Mercedes 2013 Annual Report Download - page 214
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218
14. Receivables from financial services
Table F.37 shows the components of receivables from
financial services.
Types of receivables. Retail receivables include loans and
finance leases to end users of the Group’s products who
purchased their vehicle either from a dealer or directly from
Daimler.
Wholesale receivables represent loans for floor financing
programs for vehicles sold by the Group’s automotive businesses
to dealers or loans for assets purchased by dealers from third
parties, primarily used vehicles traded in by dealers’ customer
or real estate such as dealers’ showrooms.
Other receivables mainly represent non-automotive assets
from contracts of the financial services business with third
parties.
All cash flow effects attributable to receivables from financial
services are presented within cash provided by/used for
operating activities in the consolidated statement of cash flows.
Allowances. Changes in the allowance account for receivables
from financial services are included in table F.38.
The total expense of impairment losses on receivables
from financial services amounted to €416 million in 2013
(2012: €390 million).
Receivables from financial services
At December 31, 2013 At December 31, 2012
Current Non-current Total Current Non-current Total
In millions of euros
Receivables from
Retail 13,513 26,169 39,682 13,289 25,379 38,668
Wholesale 9,781 1,723 11,504 8,995 1,687 10,682
Other 97 358 455 102 546 648
Gross carrying amount 23,391 28,250 51,641 22,386 27,612 49,998
Allowances for doubtful accounts -390 -481 -871 -388 -550 -938
Carrying amount, net 23,001 27,769 50,770 21,998 27,062 49,060
F.37
Changes in the allowance account for receivables from financial services
2013 2012
In millions of euros
Balance at January 1 938 946
Charged to costs and expenses 405 370
Amounts written off-273 -235
Reversals -137 -132
Currency translation and other changes -62 -11
Balance at December 31 871 938
F.38