Mercedes 2013 Annual Report Download - page 218

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19. Trade receivables
Trade receivables are comprised as shown in table  F.44.
As of December 31, 2013, €116 million of the trade receivables
mature after more than one year (2012: €117 million).
Allowances. Table  F.45 includes changes in the allowance
account for trade receivables.
The total expenses relating to the impairment losses
of trade receivables amounted to €105 million in 2013
(2012: €129 million).
Credit risks. Table  F.46 gives an overview of credit risks
included in trade receivables.
Receivables not subject to an individual impairment
assessment are grouped and subject to collective impairment
allowances to cover credit losses.
Further information on financial risk and types of risk
is provided in Note 32.
20. Equity
See also the consolidated statement of changes in equity
 F.05.
The share capital is divided into no-par value shares. All shares
are fully paid up. Each share confers the right to one vote
at the Annual Shareholders’ Meeting of Daimler AG and, if appli-
cable, with the exception of any new shares potentially not
entitled to dividend, to an equal portion of the profits as defined
by the dividend distribution resolved at the Annual Meeting.
Each share represents a proportionate amount of approximately
€2.87 of the share capital. For the development of shares
issued or outstanding see  F.47.
Treasury shares. By resolution of the Annual Shareholders’
Meeting on April 14, 2010, the Board of Management, with
the consent of the Supervisory Board, was authorized until
April 13, 2015 to acquire treasury shares for all legal purposes
in a volume up to 10% of the share capital issued as of the
day of the resolution. The authorization applies for example
to the purchase of shares for the purpose of cancellation,
for using them for business combinations or to acquire compa-
nies, or for disposal in other ways than through the stock
exchange or by offering them to all shareholders. This authori-
zation has not been exercised in the reporting period.
Through a final verdict reached by the higher regional court
in Frankfurt am Main in November 2009, the exchange ratio
specified in the domination and profit and loss transfer agree-
ment between the former Daimler-Benz AG and the former
AEG AG from 1988 as well as the compensation payment for
unpaid AEG dividends determined in this agreement had
been increased for the benefit of those AEG shareholders.
In 2010, Daimler AG began to satisfy the claims of former
AEG shareholders.
In 2012, a further 0.005 million treasury shares worth a total of
€0.21 million were purchased and transferred to former AEG
shareholders. 0.017 million treasury shares worth a total of
€0.63 million were retransferred to Daimler AG as they could
not be transferred to the authorized AEG shareholders. These
shares were immediately sold on the stock exchange for a
total of €0.62 million; the profit from the transaction was rec-
ognized within retained earnings.
The claims resulting from this verdict by the higher regional
court in Frankfurt am Main have lapsed.
As was the case at December 31, 2012, no treasury shares
are held by Daimler AG at December 31, 2013.
Trade receivables
At December 31,
2013 2012
In millions of euros
Gross carrying amount 8,200 7,945
Allowances for doubtful accounts -397 -402
Carrying amount, net 7,803 7,543
F.4 4
Changes in the allowance account for trade receivables
2013 2012
In millions of euros
Balance at January 1 402 467
Charged to costs and expenses 66 61
Amounts written off-59 -123
Currency translation and other changes -12 -3
Balance at December 31 397 402
F.45