BIC_Registration_Document_2017
FINANCIAL STATEMENTS Consolidated financial statements
Credit risk 22-5 The Group’s credit risk is primarily attributable to its trade and other receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. The Group has no significant concentration of credit risk, with exposure spread over a large number of customers. Trade and other receivables comprise: gross amounts receivable for the sale of goods as well as other ● receivables, mainly related to VAT credits. These trade and other receivables are short-term assets, with maturity dates within 12 months;
an allowance for estimated unrecoverable amounts from the sale ● of goods. This allowance has been determined by reference to past default experience and based on the current economic environment. It is booked in a separate account. The BIC Group considers that the carrying amount of trade and other receivables is close to their fair value. Receivables past due but not impaired are not significant at Group level as of December 31, 2017. Maximum exposure to credit risk corresponds to the carrying amount value of financial assets in the balance sheet, including derivatives with positive market values (see table below):
Note
Dec. 31, 2016
Dec. 31, 2017
(in thousand euros)
Gross receivables Not yet due or past due for less than 60 days
437,704
425,462
Past due for 60 to 90 days
5,622 3,323 6,244
5,609 6,086 8,162
Past due for 90 to 120 days
Past due for more than 120 days
Total gross receivables
452,892
445,319
Doubtful receivables
12,022
12,447
TOTAL BEFORE ALLOWANCES
464,914 (16,932) (3,856) 38,972 483,099
457,766 (15,809) (3,226) 38,015 476,745
Allowance on specific trade receivables
Allowance on statistically calculated trade receivables
Other receivables
TRADE AND OTHER RECEIVABLES – NET
14
205
BIC GROUP - 2017 REGISTRATION DOCUMENT
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