FINANCIAL STATEMENTS - KPN

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[13] Trade and other receivables (non-current) Amounts in millions of EUR 2012 2011 Balance as of January 1 261 242 Current portion of non-current receivables 4 -6 Gross 265 236 Additions 127 44 Redemptions -16 -15 Impairment -1 – Total gross at December 31 375 265 Current portion of non-current receivables -84 -4 Balance as of December 31 291 261 Additions comprised among others EUR 80 million of accrued income previously reported as deferred income, mainly classified as current portion of non-current receivables. The balance as of December 31 included the following: Amounts in millions of EUR 2012 2011 Accrued income and prepayments 130 107 Receivables from financial leases 2 3 Pension assets [22] 137 134 Other loans 22 17 Total 291 261 [..] Bracketed numbers refer to the related notes. Accrued income and prepayments mainly consist of prepaid rent recognized at net present value. The gross amount with respect to receivables from financial leases amounts to EUR 3 million (2011: EUR 5 million), which fully matures within five years. The short-term portion of the financial leases amounting to EUR 1 million (2011: EUR 2 million) is classified as current trade and other receivables. In 2012, an amount of EUR 137 million (2011: EUR 134 million) relates to a surplus of plan assets in excess of benefit obligations in pension plans. Reference is made to Note 22. [14] Inventories Amounts in millions of EUR December 31, 2012 December 31, 2011 Resources, parts, tools and measuring instruments 65 68 Finished goods 70 81 Total inventories, gross 135 149 Provision for obsolescence -24 -26 Total inventories, net 111 123 The fair value of the inventories does not materially differ from the amount as recorded as at December 31, 2012. During the year 2012 a net amount of EUR 6 million (2011: EUR 13 million) was added to the provision for obsolete stock through ‘cost of materials’ in the Consolidated Statement of Income. The transition expenses relating to fixed-price contracts involving managed ICT services are included under finished goods and amount to EUR 10 million at the end of 2012 (2011: EUR 14 million). KPN | Annual Report 2012 117
Consolidated Financial Statements Notes to the Consolidated Statement of Financial Position continued [15] Trade and other receivables Amounts in millions of EUR December 31, 2012 December 31, 2011 Trade receivables 1,045 1,022 Social security and other taxes 36 35 Other receivables 157 51 Accrued income 318 391 Prepayments 140 108 Total 1,696 1,607 Amounts in millions of EUR December 31, 2012 December 31, 2011 Trade receivables – gross 1,195 1,183 Provision for doubtful trade receivables -150 -161 Total 1,045 1,022 The carrying amounts of trade and other receivables approximate their fair value. Trade and other receivables are non-interest bearing. The movements in the provision for doubtful trade receivables are as follows: Amounts in millions of EUR 2012 2011 Balance as of January 1 161 148 Addition through income statement 48 20 Usage -49 -14 Other movements -3 9 Transfer to assets held for sale -7 -2 Balance as of December 31 150 161 The maximum exposure to credit risk on trade receivables is limited to their gross amount. The concentration of KPN’s trade receivables over the different segments as at December 31 can be summarized as follows: December 31, 2012 December 31, 2011 Amounts in millions of EUR Gross Provision Gross Provision Consumer Mobile 47 11 54 8 Consumer Residential 49 11 27 8 Business Segment 183 12 140 8 Corporate Market 175 8 194 7 NetCo Segment 123 18 119 44 iBasis Segment 212 4 193 4 Germany Segment 285 64 325 57 Belgium Segment 101 16 100 21 Other 20 6 31 4 Total 1,195 150 1,183 161 For a discussion of KPN’s policies to reduce credit risk on trade receivables as well as concentration of the credit risk, reference is made to Note 29 ‘Capital and Financial Risk Management’. Postpaid mobile services are considered to have the highest credit risks within the business of KPN (Germany, Belgium, part of Business and Consumer Mobile Segment). Overall, concentrations of credit risk with respect to trade receivables are limited due to the Group’s large and unrelated customer base. The provision for doubtful trade receivables is predominantly collectively determined based on ageing and is reviewed periodically. The concentration of credit risk in the integrated, outsourced and managed ICT solutions businesses is somewhat larger. The gross amount due from trade receivables in these businesses at December 31, 2012, was EUR 175 million (2011: EUR 194 million) for which a provision of EUR 8 million (2011: EUR 7 million) was recorded. The provision for doubtful receivables in these businesses has been determined on an individual basis. The ageing of the gross trade receivables at the reporting date was as follows: December 31, 2012 December 31, 2011 Amounts in millions of EUR Gross Provision Gross Provision Amounts undue 646 2 595 1 Past due 0-30 days 161 5 184 13 Past due 31-60 days 48 6 39 4 Past due 61-90 days 33 3 42 3 Past due 91-180 days 138 13 119 15 Past due 181-270 days 21 13 23 10 Past due 271-360 days 18 10 15 7 More than one year 130 98 166 108 Total 1,195 150 1,183 161 118 KPN | Annual Report 2012
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FINANCIAL STATEMENTS - KPN

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