APC 2007 Annual Report Download - page 124
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8.3 - Current financial assets
Dec. 31, 2007 Dec. 31, 2006
Short-term investments 51.9 48.2
Pension assets 32.0 25.3
Total current
financial assets 83.9 73.5
Note 9 - Inventories
and work in process
Inventories and work in process changed as follows:
Dec. 31, 2007 Dec. 31, 2006
Cost:
Raw materials 994.4 830.6
Work in process 340.4 341.8
Semi-finished
and finished products 1,307.1 973.4
Goods 102.0 109.8
Inventories and work
in process at cost 2,743.9 2,255.6
Impairment:
Raw materials (105.5) (91.3)
Work in process (15.2) (15.7)
Semi-finished
and finished products (131.8) (81.1)
Goods (10.6) (11.6)
Impairment loss (263.1) (199.7)
Net:
Raw materials 888.9 739.3
Work in process 325.3 326.1
Semi-finished
and finished products 1,175.3 892.3
Goods 91.3 98.2
Inventories and work
in process, net 2,480.8 2,055.9
Note 10 - Trade
accounts receivable
Dec. 31, 2007 Dec. 31, 2006
Accounts receivable 3,049.1 2,509.2
Notes receivable 422.0 386.7
Advances to suppliers 84.6 85.9
Accounts
receivable at cost 3,555.7 2,981.8
Impairment (92.5) (99.0)
Accounts
receivable, net 3,463.2 2,882.8
Of which:
On time 2,663.5 2,531.4
Less than one month
past due 463.1 191.9
One to three months
past due 154.4 75.8
Three to six months
past due 57.2 30.2
Six to nine months
past due 49.7 20.5
More than one year
past due 75.3 33.0
Accounts
receivable, net 3,463.2 2,882.8
Substantially all pension assets concern plans in the
United States, which had a surplus at December 31, 2007
(note 15).
The Group’s accounts receivable are generated from sales
to customers operating in a wide range of businesses and
geographic regions. Consequently, the Group believes that
there is no significant concentration of credit risk.
In addition, the Group takes out substantial credit insur-
ance and uses other types of guarantees to limit the risk of
losses on trade accounts receivable.
Changes in provisions for impairment of short and long-
term trade accounts receivable were as follows:
Dec. 31, 2007 Dec. 31, 2006
Provisions for
impairment on Jan. 1 (99.0) (106.6)
Additions (27.7) (22.1)
Utilizations 19.7 24.7
Reversals of
surplus provisions 6.5 6.3
Translation adjustment 4.8 5.6
Other 3.2 (6.9)
Provisions for
impairment on Dec. 31 (92.5) (99.0)
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