Note 28 – Accounts receivable and other receivables
|Receivables from Group companies||–||–||32||51|
|Short-term financial receivables from Group companies||–||–||138||121|
|Total accounts receivable and other receivables||882||810||295||296|
Regarding credit risks and exposures, see Note 3.1.2.
Other receivables above relate to:
|Receivables from suppliers||10||6||–||–|
|Total other receivables||84||80||13||21|
|Accounts receivable neither overdue nor impaired||706||673||102||102|
|Accounts receivable overdue but not impaired||91||58||10||2|
|Impaired accounts receivable||17||23||2||3|
|Provision for bad debts||-15||-23||-2||-3|
|Total accounts receivable||798||730||112||103|
The credit risk associated with accounts receivable that are neither overdue nor impaired is not considered to be large. 37% (2016: 40%) of total accounts receivable that are neither overdue nor impaired have a rating of AA or higher. Due to the geographical spread, the history Duni possesses regarding its customers, and the improbability of all customers encountering payment difficulties at the same time, Duni sees no reason for impairment in this category. No individual account receivable exceeds 3.9% (2016: 4.3%) of the total accounts receivable that are neither overdue nor impaired.
Aging of accounts receivable overdue but not impaired:
|Less than 1 month||75||47||10||0|
|More than 6 months||1||0||–||0|
On December 31, 2017, the reserve for bad debts amounted to SEK 15 m (2016: SEK 23 m). The individually assessed receivables which are deemed to be in need of impairment relate primarily to wholesalers who have unexpectedly encountered financial difficulties. It has been assessed that some of the receivables are expected to be recoverable.
Aging of impaired accounts receivable:
|Less than 3 months||3||4||0||1|
|More than 6 months||10||15||2||1|
Specification of reserve for bad debts:
|At the beginning of year||23||18||3||1|
|Provisions for bad debts||2||10||–||2|
|Receivables written off during the year||-2||-1||–||0|
|Reversed non-utilized amount||-9||-5||-1||0|
|Exchange rate differences||0||1||–||–|
Provisions for the respective reversal of reserves for bad debts are included in the item “Selling expenses” in the income statement.
In other categories within accounts receivable and other receivables, no assets are included for which impairment is needed.
The maximum exposure to credit risks as per the balance sheet date is the fair value for each category of receivables mentioned above. The Group holds no assets pledged as security.
Reported amounts, per currency, for the Group’s accounts receivable:
*”Other currencies” refers to CZK, NZD, RUB, SGD, THB, USD, etc.