Shareholders' Letter

Analysis of maturity and allowances
The due dates of trade receivables as well as the related allowances may be analysed as follows:
31.12.2010 31.12.2009
Gross Allowance Gross Allowance
In CHF million amount amount
Not overdue 1,673 9 1,759 30
Past due up to 3 months 471 6 545 11
Past due 4 to 6 months 103 8 122 10
Past due 7 to 12 months 152 31 130 40
Past due over 1 year 258 193 227 160
Total 2,657 247 2,783 251
The table below presents the changes in allowances on trade and other receivables.
Trade Other
In CHF million receivables receivables
Balance at 31 December 2008 225 14
Additions to allowances 152 1
Write-off of irrecoverable receivables subject to allowance (110) –
Release of unused allowances (13) –
Change in scope of consolidation (2) –
Foreign currency translation adjustments (1) –
Balance at 31 December 2009 251 15
Additions to allowances 142 1
Write-off of irrecoverable receivables subject to allowance (102) –
Release of unused allowances (11) (1)
Foreign currency translation adjustments (33) –
Balance at 31 December 2010 247 15
Construction contracts
Information on uncompleted construction contracts as of the balance sheet date is as follows:
In CHF million 2010 2009
Contract costs of current projects 94 60
Recognised gains less losses 23 8
Contract costs including share of gains and losses, net 117 68
Less progress billings (78) (46)
Total net receivables from construction contracts 39 22
Thereof receivables from construction contracts 44 26
Thereof liabilities from construction contracts (5) (4)
Advance payments received 27 17
Net revenue of CHF 295 million was recorded on construction contracts in 2010 (prior year: CHF
235 million).
Consolidated financial statements 174 | 175
Notes to the consolidated financial statements