|
€ million |
|
2016 |
|
2015 |
|
|
Total |
|
Of which noncurrent |
|
Of which current |
|
Total |
|
Of which noncurrent |
|
Of which current |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade receivables |
|
775.7 |
|
– |
|
775.7 |
|
679.4 |
|
– |
|
679.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
11.1 |
|
11.1 |
|
– |
|
11.1 |
|
11.1 |
|
– |
Loans |
|
96.4 |
|
96.4 |
|
– |
|
99.9 |
|
99.9 |
|
– |
Receivables from associated companies |
|
0.9 |
|
– |
|
0.9 |
|
1.0 |
|
– |
|
1.0 |
Loan and interest receivables |
|
1.4 |
|
– |
|
1.4 |
|
0.2 |
|
– |
|
0.2 |
Derivative financial instruments |
|
6.1 |
|
2.0 |
|
4.1 |
|
12.6 |
|
0.2 |
|
12.4 |
Receivables from suppliers |
|
6.2 |
|
– |
|
6.2 |
|
6.6 |
|
– |
|
6.6 |
Deposits |
|
2.9 |
|
1.4 |
|
1.5 |
|
1.4 |
|
0.1 |
|
1.3 |
Restricted cash and cash equivalents |
|
0.4 |
|
– |
|
0.4 |
|
3.8 |
|
– |
|
3.8 |
Sundry financial assets |
|
51.2 |
|
0.6 |
|
50.6 |
|
24.7 |
|
0.1 |
|
24.6 |
Other financial assets |
|
176.6 |
|
111.5 |
|
65.1 |
|
161.3 |
|
111.4 |
|
49.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accruals and deferrals |
|
10.1 |
|
1.7 |
|
8.4 |
|
10.1 |
|
1.0 |
|
9.1 |
Plan assets |
|
0.4 |
|
– |
|
0.4 |
|
0.4 |
|
– |
|
0.4 |
Other tax receivables |
|
46.1 |
|
0.7 |
|
45.4 |
|
44.2 |
|
2.7 |
|
41.5 |
Sundry non-financial assets |
|
14.3 |
|
1.3 |
|
13.0 |
|
8.0 |
|
0.6 |
|
7.4 |
Other non-financial assets |
|
70.9 |
|
3.7 |
|
67.2 |
|
62.7 |
|
4.3 |
|
58.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax receivables |
|
18.5 |
|
– |
|
18.5 |
|
19.1 |
|
0.1 |
|
19.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Receivables are shown at amortized cost, which corresponds to their market value. Adequate valuation allowances are set up to cover default risks, to the extent that these are not covered by insurance, bank guarantees or advance payments received.
Valuation allowances and past-due debts developed as follows:
Changes in valuation allowances for trade receivables
|
|
|
|
|
€ million |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
As of Jan. 1 |
|
5.6 |
|
5.1 |
Utilization |
|
-2.2 |
|
-2.7 |
(+) Additions / (–) reversals |
|
0.2 |
|
2.8 |
Exchange-rate differences |
|
0.1 |
|
0.4 |
As of Dec. 31 |
|
3.7 |
|
5.6 |
|
|
|
|
|
Changes in Past-Due Trade Receivables
|
|
|
|
|
€ million |
|
2016 |
|
2015 |
|
|
|
|
|
|
|
|
|
|
Receivables that are neither past due nor written down |
|
634.5 |
|
551.3 |
|
|
|
|
|
Receivables that are past due but not written down: |
|
|
|
|
up to 30 days past due |
|
134.0 |
|
121.9 |
31 to 45 days past due |
|
3.3 |
|
2.2 |
over 45 days past due |
|
3.5 |
|
3.5 |
Total |
|
140.8 |
|
127.6 |
|
|
|
|
|
Written-down receivables |
|
0.4 |
|
0.5 |
|
|
|
|
|
Carrying amount |
|
775.7 |
|
679.4 |
|
|
|
|
|
No valuation allowances were recognized for other financial assets in either the period under review or the prior year. There was no significant credit risk as of December 31, 2016.
Valuation allowances are set up for identifiable credit risks and exchange-rate fluctuations. We continuously monitor the creditworthiness of our debtors to assess the intrinsic value of the corresponding receivables and, where appropriate, we take out credit default insurance. In addition, customers make advance payments and provide bank guarantees. The maximum default risk is equal to the carrying amount of the uninsured receivables. No loans or receivables were renegotiated to prevent an overdue debt or possible valuation allowances. Based on past experience and on the conditions prevailing as of the reporting date, there are no restrictions with regard to credit quality. The additions and reversals in the valuation allowances for receivables in the reporting period mainly relate to Wacker Chemie AG.