Financial Statements - Entel

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EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Translation Purposes Only12/31/2012Non-renegotiated portfolioRenegotiated portfolioTotal portfolioPortfolio structure No. of customers Gross balances No. of customers Gross balances grossTh. CLP$ Th. CLP$ Th. CLP$Non due 994,412 215,975,037 11,296 8,631,395 224,606,4321–30 days 389,962 32,504,958 2,124 365,474 32,870,43231–60 days 185,851 12,630,217 690 115,542 12,745,75961–90 days 165,574 6,887,977 558 140,985 7,028,96291–120 days 124,274 5,889,507 546 86,272 5,975,779121–150 days 131,849 4,938,851 645 94,157 5,033,008151–180 days 161,863 4,864,049 694 107,198 4,971,247181–210 days 169,889 6,849,595 941 125,564 6,975,159211–250 days 161,689 5,200,948 681 116,059 5,317,007250+ days 1,089,870 50,049,859 10,790 4,490,904 54,540,763Total 3,575,233 345,790,998 28,965 14,273,550 360,064,54812/31/2011Non-renegotiated portfolioRenegotiated portfolioTotal portfolioPortfolio structure No. of customers Gross balances No. of customers Gross balances grossTh. CLP$ Th. CLP$ Th. CLP$Non due 856,878 208,600,388 9,357 4,221,370 212,821,7581–30 days 371,961 24,391,305 895 109,749 24,501,05431–60 days 177,729 8,417,271 885 165,311 8,582,58261–90 days 165,874 6,353,676 745 195,301 6,548,97791–120 days 147,654 4,650,188 673 120,669 4,770,857121–150 days 121,853 3,845,051 710 143,341 3,988,392151–180 days 116,654 4,705,974 654 119,004 4,824,978181–210 days 152,728 2,900,165 946 92,014 2,992,179211–250 days 127,621 9,324,141 863 172,339 9,496,480250+ days 1,098,275 37,021,433 8,021 3,857,360 40,878,793Total 3,337,227 310,209,592 23,749 9,196,458 319,406,050The portfolio structure for trade debtors includes the following values for rejected documents ornon-securitized legal collection for each period.12/31/2012 12/31/2011No. customers Gross balances No. customers Gross balancesTh. CLP$Th. CLP$Documents receivable (rejected) 8,642 5,685,647 6,950 3,722,754Documents receivable (in legal collection) 442 1,065,550 337 1,036,480Total 9,084 6,751,197 7,287 4,759,234–20–
EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)For Translation Purposes OnlyVariation in provision for impairment.12/31/2012 12/31/2011Th. CLP$ Th. CLP$Initial balance 72,685,956 65,870,619Increase for impairment recorded under income 45,955,470 31,630,145Withdrawal of impaired financial assets (26,980,999) (25,078,979)Increase (decrease) in foreign currency translation (142,159) 264,171Total 91,518,268 72,685,956The value of services provided but not invoiced is included under Trade Debtors and is Th.CLP $82,726,519 and Th. CLP $73,677,483 for the periods.The due date for accounts receivable is determined by the due date of individual invoices.Debt write offs follow the procedures detailed below for each customer segment:- Consumers – Overdue balances are progressively allocated against expenses in line withtheir age until reaching 100% of the outstanding balance after a period of 120 days for theexpiry of mobile services and 300 days for wireline services.- Small Medium Enterprise (SME) – For this segment, 100% of the debt is recorded after 120days for mobile services and 180 days for wireline services.- Corporate – For the corporate segment, 100% of the debt is recorded after 360 days formobile and wireline services.- Wholesale – For the wholesale segment, 100% of the debt is recorded after 120 days formobile and wireline services, subject to the evaluation of debtor solvency.Guarantees – Real guarantees are requested or credit insurance is contracted for customers orsegments with a high risk of having to write off debt. At present, for intermediaries for electronicpayments of mobile service usage rights (indirect channel), these risks are mitigated by therequirement for guarantee letters and credit insurance contracts with accredited insurancecompanies.Compliance Incentive (Improving Credit) – In the SME segment, the motivation of customers tomeet payment terms is influenced by whether they will appear on public or private registers foroverdue payment practices (DICOM, Transunion – formerly Databusiness, and SIISA).Additionally, there are differentiated service cut-offs for all segments (Consumers and SME),telephone and in-person collection activities being undertaken prior to prohibiting contractrenewal.Information on Debtors and Other Accounts Receivable by SegmentThe main items from the perspective of collection management, considering the combinations ofbusiness segment and product, are for mobile services for the consumers segment.The following tables, in addition to detailing the breakdown for mobile services for the consumersegment, include information for all other segments by service area.–21–
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Financial Statements - Entel

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