CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

NOTE 23. TRADE AND OTHER RECEIVABLESDecember 31,2010 2009Trade and other receivables ............................................................................................. 4,683 3,696Reserve for doubtful receivables ..................................................................................... (16) (22)Total................................................................................................................................. 4,667 3,674December 31,2010 2009Fair value of Trade and other receivables........................................................................ 4,667 3,674As a rule there is not considered to be any impairment needed for trade and other receivables that have been duefor payment for less than three months. As of December 31, 2010 trade and other receivables totaling SEK 90 million(183) were due without any need for impairment being considered to exist. These relate to a number of independentcustomers that have not previously had any payment problems. The age analysis of these trade and other receivables isshown below:December 31,2010 2009Less than 10 days............................................................................................................ 72 148Between 10 and 20 days ................................................................................................. 7 11Between 21 and 30 days ................................................................................................. 2 7More than 30 days .......................................................................................................... 9 17Total................................................................................................................................ 90 183The reserve for doubtful trade and other receivables totaled SEK 16 million (22) on December 31, 2010.Receivables are recognized as doubtful receivables when objective information exists, e.g., in the form of cancelledpayments or receivables not being settled after being due for 3 months.Receivables in the reserve for doubtful trade and other receivables are as follows:December 31,2010 2009At the beginning of the period........................................................................................ 22 29This year’s reserve for doubtful receivables / reversed unutilized amounts................... 10 6Confirmed losses during the year................................................................................... (16) (13)At the end of the period.................................................................................................. 16 22Provisions for and reversals of reserves for doubtful trade and other receivables are included in the functions towhich they relate in the consolidated comprehensive income statement. Amounts recorded in the impairment account areusually written off when the Group is not expected to recover any additional cash or cash equivalents.Other categories within trade and other receivables and other receivables do not include any assets for which animpairment need exists.The maximum exposure for credit risk on the balance sheet date is the fair value for each category of receivablesmentioned above.NOTE 24. CASH AND CASH EQUIVALENTSCash and cash equivalents in the balance sheet and the cash flow statement include the following with amaturity date less than three months after acquisition.December 31,2010 2009Current investments......................................................................................................... 139 539Cash and bank balances ................................................................................................... 464 269603 809F-33