Financial Statements - Entel

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EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Translation Purposes Only12/31/2012 12/31/2011Th. CLP$Th. CLP$CurrentNon-hedge derivatives 358,164 4,509,615Debtors for financial leasing 919,617 897,605Current subtotal 1,277,781 5,407,220NoncurrentNon-hedge derivatives 552,113 -Debtors for financial leasing 3,453,512 3,926,820Term deposits 1,971,655 1,873,733Noncurrent subtotal 5,977,280 5,800,553Total other financial assets 7,255,061 11,207,773The derivatives category records all contracts with positive balances for the Group companies.Those with negative values are recorded under Other <strong>Financial</strong> Liabilities (Note 15).Debtors for <strong>Financial</strong> Leasing records balances related to the current contract with Telmex S.A. andcorresponds to capital installments to be received in more than one year’s time for the long-termlease of telecommunications infrastructure.The contract comprises 19 equal annual payments of UF 40,262.12, the last of which is due onJanuary 10, 2017, and a final installment (the purchase option) of UF 30,196.59, due on January 10,2018.This value is shown net of non-accrued interest determined on the basis of the interest rate includedin the contract, equivalent to an annual rate of 8.7%.The expiry profile of this contract is as follows.Minimum leasing payments Gross Interest12/31/2012 12/31/2011PresentvalueGrossInterestPresentvalueLess than one year 1,220,072 ( 300,455 ) 919,617 1,240,990 ( 343,385 ) 897,605Between one and five years 4,368,180 ( 914,668 ) 3,453,512 3,957,639 ( 685,289 ) 3,272,350More than five years - - - 860,205 ( 205,735 ) 654,470Total 5,588,252 ( 1,215,123 ) 4,373,129 6,058,834 ( 1,234,409 ) 4,824,425–18–
EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Translation Purposes Only7. OTHER NON-FINANCIAL ASSETSThis item mainly corresponds to prepaid expenses, detailed in the table below.CurrentNoncurrent12/31/2012 12/31/2011 12/31/2012 12/31/2011Th. CLP$ Th. CLP$ Th. CLP$ Th. CLP$Prepaid ExpensesLeasing (land, property) 11,038,439 9,910,532 1,762,615 1,844,952Maintenance, support 3,357,643 1,063,907 886,539 66,182Marketing 136,347 1,045,807 - 1,836,256Insurance 918,128 1,921,027 918,128 -Capacity leases 39,430 484,867 - 926,686Other services 319,118 2,176,588 - -Deferred costs for customer installations 84,749 151,669 13,935 35,337Other - - 9,476 9,265Total 15,893,854 16,754,397 3,590,693 4,718,6788. TRADE DEBTORS AND OTHER ACCOUNTS RECEIVABLEThe breakdown of these balances is as follows.12/31/2012 12/31/2011Th. CLP$Th. CLP$Trade debtors and other accounts receivable, netTrade debtors, net, current 268,546,280 246,720,094Accounts receivable for staff, net, current 1,585,009 1,156,766Other accounts receivable, net, current 6,637,669 3,352,780Accounts receivable for staff, net, noncurrent 1,874,845 3,987,177Other accounts receivable, net, noncurrent 1,849,771 1,337,057Total 280,493,574 256,553,874Trade debtors and other accounts receivable, grossTrade debtors, gross, current 360,064,548 319,406,050Accounts receivable for staff, gross, current 1,585,009 1,156,766Other accounts receivable, gross, current 6,702,317 3,417,428Accounts receivable for staff, gross, noncurrent 1,874,845 3,987,177Other accounts receivable, gross, noncurrent 1,849,771 1,337,057Total 372,076,490 329,304,478These balances include values with an expire date over greater than one year (noncurrent), withnet values of Th. CLP $3,724,616 and Th. CLP $5,324,234 for each period, recorded under RightsReceivable for Noncurrent Assets.There are no securitized items within the portfolio of trade debtors.Trade debtors are listed net of provisions for impairment (unrecoverable debts) of Th.CLP $91,518,268 and Th. CLP $72,685,956 at the close of each periods. The breakdown of the grossvalues of Th. CLP $360,064,548 and Th. CLP $319,406,050 is as follows.–19–
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