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€ million |
2012 |
2011 | ||||||||||||
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Total |
Of which noncurrent |
Of which current |
Total |
Of which noncurrent |
Of which current | ||||||||
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Trade receivables |
600.2 |
– |
600.2 |
566.1 |
– |
566.1 | ||||||||
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Other receivables from associated companies |
0.5 |
– |
0.5 |
0.6 |
– |
0.6 | ||||||||
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Advance payments to associated companies |
– |
– |
– |
16.4 |
– |
16.4 | ||||||||
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Loan and interest receivables |
3.4 |
– |
3.4 |
2.0 |
– |
2.0 | ||||||||
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Derivative financial instruments |
11.4 |
2.9 |
8.5 |
17.9 |
1.0 |
16.9 | ||||||||
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Prepaid expenses and deferred charges |
7.8 |
1.3 |
6.5 |
7.2 |
– |
7.2 | ||||||||
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Investment fund shares1 |
2.9 |
2.9 |
– |
4.4 |
4.4 |
– | ||||||||
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Claims arising from investment grants |
10.9 |
– |
10.9 |
38.1 |
– |
38.1 | ||||||||
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Claims against suppliers |
6.4 |
0.2 |
6.2 |
4.3 |
0.1 |
4.2 | ||||||||
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Assets from excess pension-plan coverage |
5.8 |
5.8 |
– |
7.6 |
7.6 |
– | ||||||||
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Deposits |
19.1 |
– |
19.1 |
1.5 |
– |
1.5 | ||||||||
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Restricted cash and cash equivalents |
9.5 |
– |
9.5 |
– |
– |
– | ||||||||
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Sundry assets |
53.9 |
– |
53.9 |
46.1 |
0.2 |
45.9 | ||||||||
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Other assets |
131.6 |
13.1 |
118.5 |
146.1 |
13.3 |
132.8 | ||||||||
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Of which noncurrent, falling due > 5 years |
– |
5.8 |
– |
– |
7.7 |
– | ||||||||
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Tax receivables |
115.3 |
24.5 |
90.8 |
128.2 |
10.9 |
117.3 | ||||||||
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Of which noncurrent, falling due > 5 years |
– |
– |
– |
– |
2.3 |
– | ||||||||
The other assets mainly comprise advance payments to the pension fund.
Receivables are shown at amortized cost, which corresponds to their market values. If not covered by insurance, default risks are taken into account with adequate valuation allowances.
Valuation allowances and overdue debts have developed as follows:
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2012 | ||||||||||||
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€ million |
Carrying amount |
Of which: neither im- |
Of which: not impaired, yet overdue as per the reporting date |
Of which: impaired as per the reporting date | ||||||||
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overdue up to 30 days |
overdue 31 to 45 days |
overdue over 45 days |
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Trade receivables |
600.2 |
465.4 |
103.9 |
22.9 |
1.2 |
6.8 | ||||||
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Other assets |
131.6 |
130.2 |
0.6 |
0.2 |
0.6 |
– | ||||||
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Total |
731.8 |
595.6 |
104.5 |
23.1 |
1.8 |
6.8 | ||||||
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2011 | ||||||||||||
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€ million |
Carrying amount |
Of which: neither im- |
Of which: not impaired, yet overdue as per the reporting date |
Of which: impaired as per the reporting date | ||||||||
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overdue up to 30 days |
overdue 31 to 45 days |
overdue over 45 days |
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Trade receivables |
566.1 |
431.1 |
107.9 |
14.3 |
11.5 |
1.3 | ||||||
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Other assets |
146.1 |
145.4 |
0.4 |
– |
0.3 |
– | ||||||
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Total |
712.2 |
576.5 |
108.3 |
14.3 |
11.8 |
1.3 | ||||||
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Development of Valuation Allowances | ||||||||||||
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€ million |
2012 |
2011 | ||||||||||
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Trade receivables |
Other assets |
Total |
Trade receivables |
Other assets |
Total | ||||||
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Valuation allowances |
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Balance as of Jan. 1 |
5.6 |
0.9 |
6.5 |
12.3 |
0.9 |
13.2 | ||||||
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Utilization |
-0.7 |
– |
-0.7 |
-2.0 |
– |
-2.0 | ||||||
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Additions/reversals |
12.5 |
-0.1 |
12.4 |
-4.5 |
– |
-4.5 | ||||||
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Exchange-rate differences |
-0.7 |
– |
-0.7 |
-0.2 |
– |
-0.2 | ||||||
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Balance as of Dec. 31 |
16.7 |
0.8 |
17.5 |
5.6 |
0.9 |
6.5 | ||||||
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. 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 impairment. 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 year mainly relate to companies in the Siltronic Group and to Wacker Chemie AG.