ONE ROOF

Notes to the Consolidated Financial Statements
178 Annual Report 2009
erned by a HOCHTIEF directive. Among other things, this covers
the contractual drafting, implementation and management of
all agreements. The detailed rules vary according to the country
and applicable case law. In the case of credit risk, HOCHTIEF
examines the credit rating of the party providing the collateral
for all guarantees accepted. HOCHTIEF uses external specialists
(for example, rating agencies) to assess credit ratings
where possible. The fair values of accepted collateral are not
disclosed as they often cannot be measured reliably.
The following table shows unimpaired financial assets that are
past due:
(EUR thousand) Dec. 31, 2009 Dec. 31, 2008
Up to 30
days
31 to 60
days
61 to 90
days
The age structure of financial assets that are past due is
shaped by industry-specific factors. Receipt of payment depends
on acceptance (inspection) and invoice checking, which
can often take a relatively long time, especially for large-scale
Over 90
days
Up to 30
days
31 to 60
days
61 to 90
days
Over 90
days
Trade receivables 95,356 24,215 21,633 94,724 124,587 27,149 24,446 67,997
Financial receivables 3 – – – 13 77 102 557
Other receivables and
other financial assets 134 – 1 25 186 – – 65
95,493 24,215 21,634 94,749 124,786 27,226 24,548 68,619
projects. Most of the unimpaired financial assets that are past
due are from public-sector clients and industrial companies
with top credit ratings. Individually impaired financial assets
are shown below:
(EUR thousand) Dec. 31, 2009 Dec. 31, 2008
Gross
carrying
amount
Impairment Net carrying
amount
Gross
carrying
amount
Impairment Net carrying
amount
Trade receivables 118,136 73,825 44,311 120,468 74,553 45,915
Financial receivables
Non-current 1 1 – – – –
Current
Other current receivables and
6,415 6,123 292 5,447 5,447 –
other current financial assets 1,197 1,197 – 32,038 30,338 1,700
125,749 81,146 44,603 157,953 110,338 47,615