CONSOLIDATED FINANCIAL STATEMENTS >
EXPLANATORY NOTES
178
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
The following table breaks down trade and other receivables according to the currency in which they are expressed:
The allowance for doubtful accounts amounts to Euro 59 million at 31 December 2013 (Euro 63 million at the end of 2012).
Movements in this allowance are shown in the following table:
Increases in and releases from the allowance for doubtful
accounts are reported in “Other expenses” in the income
statement.
Other receivables
“Prepaid finance costs”, of Euro 5 million at 31 December
2013, refer to prepaid expenses, classified as current assets,
in connection with the Revolving Credit Facilities. At 31
December 2012, prepaid finance costs comprised prepayments
of Euro 8 million for the Revolving Credit Facilities (of which
Euro 4 million classified as non-current) and Euro 1 million for
the securitization programme.
“Construction contracts” represent the value of contracts in
progress, determined as the difference between the costs
incurred plus the related profit margin, net of recognised
losses, and the amount invoiced by the Group.
(in millions of Euro)
31 December 2013 31 December 2012
Euro
806
745
US Dollar
244
265
Chinese Renminbi (Yuan)
229
226
Brazilian Real
103
147
British Pound
109
105
Qatari Riyal
4
53
Turkish Lira
51
52
Australian Dollar
22
27
Norwegian Krone
18
10
Singapore Dollar
7
17
Canadian Dollar
11
20
Argentine Peso
16
21
Swedish Krona
19
15
Romanian Leu
11
12
Other currencies
128
62
Total
1,778
1,777
(in millions of Euro)
31 December 2013
31 December 2012
Opening balance
63
67
- Business combinations
-
4
- Increases in allowance
12
4
- Releases
(2)
(4)
- Bad debt write-offs
(11)
(5)
-Currency translation differences and other movements
(3)
(3)
Total movements
(4)
(4)
Closing balance
59
63
