ANNUAL REPORT 2011 - Kuehne + Nagel

2011 2010
CHF million Gross Collective Collective Gross Collective Collective
(excluding allowance allowance (excluding allowance allowance
insured per cent of insured per cent of
receivables subtotal receivables subtotal
and and
individual individual
allowance) allowance)
Not past due 658 – – 610 – –
Past due 1–30 days 194 – – 176 – –
Past due 31–90 days 65 3 5 42 3 5
Past due 91–180 days 17 2 10 14 1 10
Past due 181–360 days 15 15 100 12 12 100
More than 1 year 5 5 100 4 4 100
Total 954 25 2.6 858 20 2.3
The movement in the impairment allowance during the year was
as follows:
2011 2010
CHF million Individual Collective Total Individual Collective Total
allowance allowance allowance allowance allowance allowance
Balance as of January 1 37 20 57 52 20 72
Additions through business combinations – 3 3 – – –
Additional impairment losses recognised
Reversal of impairment losses
18 7 25 13 4 17
and write-offs –13 –5 –18 –28 –4 –32
Balance as of December 31 42 25 67 37 20 57
Trade receivables outstanding at year-end averaged 42.2 days
(2010: 37.8 days). 94.4 per cent (2010: 94.9 per cent) of
32 Other receivables
Consolidated Financial Statements 2011 _ _ _ _ _ _ Other Notes
the total trade receivables were outstanding between 1 and
90 days.
CHF million Dec. 31, 2011 Dec. 31, 2010
Receivables from tax authorities 80 57
Deposits 29 29
Other 40 43
Total 149 129
The majority of the other receivables are held in the respective
Group companies’ own functional currencies which represents
EUR 45.9 per cent (2010: 49.3 per cent), USD 19 per cent
(2010: 17.6 per cent) and GBP 0.7 per cent (2010: 0.2 per cent).
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