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noteS TO THE CONSolidated FINANCIAL StatementS
conSolidated FINANCIAL StatementS FOR THE Year ENDED 31 DECEMBER 2011
(34) TRADE RECEIVABLES
Trade receivables are as follows:
EUR thousand 31 Dec 2011 31 Dec 2010
Receivables from contract manufacturing 1,287 1,536
Invoiced receivables 119,588 108,975
Total 120,875 110,511
Manufacturing orders according to the percentage-of-completion method are shown below:
EUR thousand 31 Dec 2011 31 Dec 2010
Costs incurred for contract manufacturing 597 710
Plus accrued profits 690 826
Receivables from contract manufacturing 1,287 1,536
Based on experience, allowances for doubtful debts of EUR 5,503 thousand (previous year: EUR 6,972 thousand)
were made to take into account insolvency risks. These allowances are the following:
Specific bad-debt allowances
Standardized bad-debt allowances
EUR thousand 2011 2010 2011 2010
As at 1 Jan 3,891 4,840 3,081 2,922
Change in scope
of consolidation 4 0 97 1,013
Allocation 93 1,049 231 568
Use (232) (244) (248) (181)
Reversal (470) (2,067) (874) (222)
Reclassifications 25 198 (25) (199)
Foreign currency
translation (83) 115 13 (820)
As at 31 Dec 3,228 3,891 2,275 3,081
(35) OTHER CURRENT ASSetS
Other current assets are shown in the following table:
EUR thousand 31 Dec 2011 31 Dec 2010
Derivative financial instruments 99 359
Receivables relating to social security and other taxes 5,622 4,243
Other receivables 4,596 3,110
Deferred expenses 2,753 2,143
Securities 13 38
Total 13,083 9,893
palfinger Annual Report 2011
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