Mercedes 1998 Annual Report Download - page 91

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14. RECEIVABLES FROM FINANCIAL SERVICES
Receivables from:
Sales financing 20,635 17,015
Finance leases 9,542 8,151
30,177 25,166
Initial direct costs 96 85
Unearned income (4,245) (4,003)
Unguaranteed residual value of
leased assets 804 870
26,832 22,118
Allowance for doubtful accounts (364) (401)
26,468 21,717
Sales financing and finance lease receivables consist of retail
installment sales contracts secured by automobiles and
commercial vehicles. Contractual maturities applicable to
receivables from sales financing and finance leases maturing
in each of the years following December 31, 1998 are as
follows:
1999 12,903
2000 6,019
2001 4,599
2002 1,996
2003 1,059
thereafter 3,601
30,177
Actual cash flows will vary from contractual maturities due to
future sales of finance receivables, prepayments and charge-
offs.
As of December 31, 1998, € 14,733 of the financing receivables
mature after more than one year (1997: € 12,336).
15. OTHER RECEIVABLES
Receivables from affiliated companies 480 375
Receivables from related companies1) 804 717
Other receivables and other assets 10,740 11,490
12,024 12,582
Allowance for doubtful accounts (1,249) (1,206)
10,775 11,376
At December 31,
1998 1997
1) Related companies include entities which have a significant ownership in
DaimlerChrysler or entities in which the Group holds a significant
investment.
Other receivables and other assets includes retained interests
in sold receivables and subordinated asset backed certificates
of € 3,046 (1997: € 3,357) and, in 1997, a tax refund of
approximately € 1,500 relating to a special distribution.
As of December 31, 1998, € 4,199 of the other receivables
mature after more than one year (1997: € 4,305).
87
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
At December 31,
1998 1997