Mercedes 2013 Annual Report Download - page 215

219
F | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
Credit risks. Table  F.39 gives an overview of credit risks
included in receivables from financial services.
Receivables not subject to an individual impairment
assessment are grouped and subject to collective impairment
allowances to cover credit losses.
Further information on financial risks and nature of risks
is provided in Note 32.
Finance leases. Finance leases consist of leasing contracts
for which all substantial risks and rewards incidental to the
leasing objects are transferred to the lessee.
Maturities of the finance lease contracts are shown
in table  F.40.
As of December 31, 2013, receivables from financial services
with a carrying amount of €3,007 million (2012: €3,056 million)
were pledged as collateral for liabilities from ABS transactions
(see also Note 24).
Within the context of the ongoing concentration on the auto-
motive business, Daimler Financial Services sold non-automotive
assets that were subject to leveraged leases in 2013. This
resulted in a total cash inflow of €48 million in 2013. There was
no significant impact on the consolidated statement of income.
Furthermore, Daimler Financial Services sold in February 2014
additional non-automotive assets that were subject to leveraged
lease contracts with a net book value of US$32 million for
a purchase price of US$94 million. The resulting pre-tax income
is allocated to the Daimler Financial Services segment in the
first quarter of 2014. On the grounds of materiality, there has
been no separate presentation as “non-current assets held
for sale” in the consolidated statement of financial position.
Credit risks included in receivables from financial services
At December 31,
2013 2012
In millions of euros
Receivables, neither past due nor impaired
individually
47,264
45,411
Receivables past due, not impaired individually
less than 30 days 1,479 1,478
30 to 59 days 266 293
60 to 89 days 59 78
90 to 119 days 38 56
120 days or more 173 158
Total 2,015 2,063
Receivables impaired individually 1,491 1,586
Carrying amount, net 50,770 49,060
F.39
Maturities of the finance lease contracts
< 1 year
1 year up to
5 years
At December 31, 2013
< 1 year
1 year up to
5 years
At December 31, 2012
> 5 years Total
> 5 years Total
In millions of euros
Contractual future lease payments 4,667 7,568 482 12,717 4,307 6,798 425 11,530
Unguaranteed residual values 367 1,796 56 2,219 485 1,665 71 2,221
Gross investment 5,034 9,364 538 14,936 4,792 8,463 496 13,751
Unearned finance income -489 -889 -85 -1,463 -468 -861 -59 -1,388
Gross carrying amount 4,545 8,475 453 13,473 4,324 7,602 437 12,363
Allowances for doubtful accounts -150 -213 -15 -378 -163 -205 -27 -395
Carrying amount, net 4,395 8,262 438 13,095 4,161 7,397 410 11,968
F.40