Annual Report 2014 | Suomeksi |

24 Trade and other receivables

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Accounting policies + -
Trade receivables are recorded at their fair value. A provision for impairment of trade receivables is established when there is evidence that the Group will not be able to collect all amounts due according to the original terms of the receivable. Significant financial difficulties of the debtor, probability that the debtor will enter into bankruptcy or financial reorganisation, and default or delinquency in payments are considered as indicators that the receivable is impaired. The amount of the impairment charge is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows.
Trade receivables include revenue based on an estimate of electricity, heat, cooling and distribution of electricity already delivered but not yet measured and not yet invoiced.
EUR million 2014 2013
Trade receivables 549 618
Income tax receivables 132 98
Accrued interest income 6 21
Accrued income and prepaid expenses 23 20
Other receivables 116 147
Other short‑term interest‑bearing receivables 4 6
Moved to assets held for sale 0 ‑42
Total 830 869
The management considers that the carrying amount of trade and other receivables approximates their fair value.
24.1 Trade receivables
Ageing analysis of trade receivables
2014 2013
EUR million Gross Impaired Gross Impaired
Not past due 504 2 577 2
Past due 1‑90 days 44 4 37 2
Past due 91‑180 days 6 3 10 2
Past due more than 181 days 50 46 75 75
Total 604 55 699 80
Impairment losses recognised in the income statement were EUR 11 million (2013: 24), of which EUR 4 million (2013: 18) are impairment losses recognised in the OAO Fortum Group. On 31 December 2014, trade receivables of EUR 55 million (2013: 80) are impaired and provided for, of which EUR 46 million (2013: 73) refers to the OAO Fortum Group.
For information regarding impairment losses by segment, see Note 5 Segment reporting.
Trade receivables by currency (Gross)
EUR million 2014 2013
EUR 204 219
SEK 202 223
RUB 132 173
NOK 12 30
PLN 45 31
Other 9 23
Total 604 699
Trade receivables are arising from a large number of customers mainly in EUR, SEK and RUB mitigating the concentration of risk.
For further information regarding credit risk management and credit risks, see
Counterparty risks in the Operating and financial review
and Note 3.7 Credit risk.
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