Porsche 2007 Annual Report Download - page 177
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174
To our shareholders
The Company
The new Panamera
Financials
Test of credit standing of the gross carrying amounts of financial assets that are
neither overdue nor impaired:
Invoicing in the retail business is mainly done against prepayment or direct debit. Moreover, pay-
ment terms are only agreed if the resulting receivable can be ranked as "good". In the Porsche
Group, the credit standing of the borrower is examined for every loan and lease agreement. If the
credit standing is not ranked “good”, additional collateral is obtained.
Analysis of the maturity of the gross carrying values of financial assets that are past due
and not impaired:
Hedge transactions of EUR 36.6 million satisfied the IFRS recognition criteria in the reporting year
(prior year: EUR 59.8 million). Most of these transactions related to vehicles.
EUR000
Good
credit rating
Secured Total
31/7/2008
Receivables from financial services 1,612,739 126,001 1,738,740
Trade receivables 198,347 472 198,819
Other financial receivables 1,455,643 01,455,643
3,266,729 126,473 3,393,202
31/7/2007
Receivables from financial services 1,625,776 128,200 1,753,976
Trade receivables 203,277 0203,277
Other financial receivables 125,372 0125,372
1,954,425 128,200 2,082,625
Past due by
EUR000
Up to 30
days
30 to
90 days
More than
90 days
Total
31/7/2008
Receivables from financial services 24,777 3,260 516 28,553
Trade receivables 18,778 10,856 8,709 38,343
Other financial receivables 04 27 31
43,555 14,120 9,252 66,927
31/7/2007
Receivables from financial services 20,619 1,775 536 22,930
Trade receivables 23,060 5,849 6,422 35,331
Other financial receivables 00 0 0
43,679 7,624 6,958 58,261