2009 - Jaarverslag

The book value of the financial assets reflects the maximum exposure to credit risk. The maximum exposure canbe defined as follows:2009 2008Trade debtors and other (long-term) receivables 118.9 188.1Cash and cash equivalents 12.8 5.4Forward foreign exchange contracts and options 0.5 1.6Interest rate swaps 0.7 -Interest rate caps 0.2 0.2Balance as at 31 December 133.1 195.3The age of the trade debtors and the provision for bad debts can be analysed as follows:2009 2008Gross Provision Gross ProvisionNot due – 60 days overdue 96.5 1.3 152.5 0.660 – 120 days overdue 1.8 0.1 11.0 0.5120 – 360 days overdue 2.1 0.4 6.8 1.1Over 360 days overdue 3.9 1.7 2.8 2.0Balance as at 31 December 104.3 3.5 173.1 4.2The movements in the provision for trade debtors are as follows:2009 2008Balance as at 1 January 4.2 3.5Acquisitions – 0.1Change as a result of divested operations – 0.2 –Formed as charge against result 1.0 1.8Released to result – 1.2 – 1.0Written off during the year – 0.3 – 0.3Exchange rate differences – 0.1Balance as at 31 December 3.5 4.2Royal Ten Cate Annual Report 2009 129