Porsche 2009 Annual Report Download - page 225

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Credit rating of the gross carrying amounts of financial assets that are neither past due nor im-
paired break down as follows:
€ million Risk class 1 Risk class 2 Total
31/7/2010
Trade receivables 0 0 0
Receivables from financial services 0 0 0
Other financial receivables 4,021 0 4,021
Derivative financial instruments 311 0 311
Securities 0 0 0
Cash and cash equivalents 898 0 898
5,230 0 5,230
31/7/2009
Trade receivables 5,207 0 5,207
Receivables from financial services 50,351 7,645 57,996
Other financial receivables 3,320 1 3,321
Derivative financial instruments 4,567 0 4,567
Securities 2,253 0 2,253
Cash and cash equivalents 25,036 0 25,036
90,734 7,646 98,380
thereof continuing operations 2,941 0 2,941
The Porsche SE group performed a credit assessment of borrowers in all loan and lease
agreements in discontinued operations, using scoring systems for the high-volume business and
rating systems for corporate customers and receivables from dealer financing. The receivables
rated as good are allocated to risk class 1. Receivables from customers whose credit rating is not
good, but have not yet defaulted, are allocated to risk class 2. After deconsolidation of the discon-
tinued operations there are no such loan and lease agreements as of the reporting date. In continu-
ing operations, allocation to the risk classes is based on the borrower’s external rating or liquidity
planning, which documents their solvency. In the latter case, compliance with all existing covenants
from other loan agreements is checked as of the reporting date.
In the prior year, a credit rating was not performed for equity instruments. This does not
apply for options to equity instruments.