Siemens 2013 Annual Report Download - page 283

253 D. Consolidated Financial Statements 357 E. Additional Information
254 D. Consolidated Statements of Income
255 D. Consolidated Statements of Comprehensive Income
256 D. Consolidated Statements of Financial Position
257 D. Consolidated Statements of Cash Flows
258 D. Consolidated Statements of Changes in Equity
260 D. Notes to Consolidated Financial Statements
348 D. Supervisory Board and Managing Board

NOTE  Trade and other receivables
September ,
(in millions of €)  
Trade receivables from the sale
of goods and services 12,932 13,310
Receivables from finance leases 1,921 1,910
14,853 15,220
Changes to the valuation allowance of current and long-term
receivables presented in NOTE ,  AND , which belong to
the class of financial assets measured at (amortized) cost are
as follows (excluding receivables from finance leases):
Year ended September ,
(in millions of €)  
Valuation allowance as
of beginning of fiscal year 1,056 1,005
Increase in valuation allowances
recorded in the Consolidated Statements
of Income in the current period 205 191
Write-offs charged against the allowance (208) (108)
Recoveries of amounts previously written-off 97
Foreign exchange translation differences (38) 14
Reclassifications to line item Assets held for
disposal and dispositions of those entities –(54)
Valuation allowance as of fiscal year-end 1,023 1,056
In fiscal  and , receivables from finance leases, cur-
rent amount to €, million and €, million, respective-
ly; the long-term portion amounts to €, million and
€, million, respectively. The valuation allowance on cur-
rent and long-term receivables from finance leases changed
as follows:
Year ended September ,
(in millions of €)  
Valuation allowance as of beginning
of fiscal year 134 142
Increase in valuation allowances
recorded in the Consolidated Statements
of Income in the current period 35 23
Write-offs charged against the allowance (47) (40)
Recoveries of amounts previously written-off 56
Foreign exchange translation differences (4) 5
Reclassifications to and from line item
Assets held for disposal and dispositions
of those entities –(2)
Valuation allowance as of fiscal year-end 124 134
Minimum future lease payments to be received are as follows:
September ,
(in millions of €)  
Within one year 2,318 2,273
After one year but not more than five years 3,406 3,240
More than five years 214 206
5,938 5,719
The following table shows a reconciliation of minimum future
lease payments to the gross and net investment in leases and
to the present value of the minimum future lease payments
receivable:
September ,
(in millions of €)  
Minimum future lease payments 5,938 5,719
Plus: Unguaranteed residual values 97 131
Gross investment in leases 6,034 5,850
Less: Unearned finance income (649) (657)
Net investment in leases 5,385 5,193
Less: Allowance for doubtful accounts (124) (134)
Less: Present value of unguaranteed
residual value (85) (117)
Present value of minimum
future lease payments receivable 5,176 4,942