DCSIMG
13 Current receivables - Annual Report 2015 - DSM

13 Current receivables

Table 1

 
2015
2014
     
Trade receivables
   
Trade accounts receivable
1,312
1,538
Deferred items
30
33
Receivables from associates
24
17
 
1,366
1,588
Adjustment for bad debts
(17)
(18)
     
Total Trade receivables
1,349
1,570
     
Other current receivables
   
Income taxes receivable
71
50
Other taxes and social security contributions
22
21
Loans
32
30
Receivables from joint venture partners
9
40
Interest
1
1
Receivables associates relating to cash facility
36
11
Other receivables
32
38
Deferred items
4
8
     
Total Other current receivables
207
199

Deferred items comprised €34 million (2014: €41 million) in prepaid expenses that will impact profit or loss in future periods.

Receivables from joint venture partners per 31 December 2014 included a deferred receivable of €40 million excluding accrued interest from Sinochem Group (the joint venture partner in DSM Sinochem Pharmaceuticals) which has been received in 2015.

With respect to trade accounts receivable that are neither impaired nor past due, there are no indications that the debtors will not meet their payment obligations. An aging overview of trade receivables related to commercial transactions amounting to €1,177 million (2014: €1,408 million) is provided below. The remaining balance reported as trade receivables amounting to €135 million (2014: €130 million) is excluded from this analysis because it principally concerns reclaimable VAT and accruals that are not related to the payment behavior of customers.

Table 2: Aging overview Trade receivables

Aging overview Trade receivables
in %
2015
2014
     
Neither past due nor impaired
87
86
1-29 days overdue
9
10
30-89 days overdue
2
1
90 days or more overdue
2
3

The changes in the allowance for doubtful accounts receivable are as follows:

Table 3

 
2015
2014
     
Balance at 1 January
(18)
(19)
     
Additions charged to income statement
(10)
(7)
Deductions
6
8
Disposals
5
-
Balance at 31 December
(17)
(18)