SCH2017_DRF_EN_Livre.indb

5

Consolidated financial statements at December 31, 2017 Notes to the consolidated financial statements

Accounts receivable result from sales to end-customers, who are widely spread both geographically and economically. Consequently, the Group believes that there is no significant concentration of credit risk.

In addition, the Group takes out substantial credit insurance 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:

Full year 2017

Full year 2016

Provisions for impairment on January 1*

(531)

(473)

Additions Utilizations

(89)

(35)

52 44 43

32 28

Reversals of surplus provisions

Translation adjustments

2

Other

3

38

PROVISIONS FOR IMPAIRMENT ON DECEMBER 31

(478)

(408)

* The 2017 opening balance has been restated from the IFRS 9 opening impact (note 1.1).

Other receivables and prepaid expenses

NOTE 19

Dec. 31, 2017

Dec. 31, 2016

Other receivables Other tax credits

386 922 135 250

342 806

Derivative instruments

74

Prepaid expenses

285

TOTAL

1,693

1,507

Cash and cash equivalents

NOTE 20

Dec. 31, 2017

Dec. 31, 2016

Marketable securities

1,393

899 422

Negotiable debt securities and short-term deposits

107

Cash and cash equivalents

1,545

1,474

Total cash and cash equivalents

3,045 (278) 2,767

2,795 (265) 2,530

Bank overdrafts

NET CASH AND CASH EQUIVALENTS

Non-recourse factoring of trade receivables were realized during the second semester of 2017 for a total amount of EUR103 million, compared with EUR103 million during the second semester of 2016.

2017 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC

256