4.5 Receivables
|
CHF million |
31 Dec 2021 |
31 Dec 2020 |
|
Trade receivables 1 |
1,646 |
714 |
|
Prepayments to suppliers |
16 |
8 |
|
Other current receivables 2 |
1,120 |
356 |
|
Total |
2,782 |
1,078 |
1 Of which, an amount of CHF 1,033 million (previous year: CHF 446 million) stems from contracts with customers pursuant to IFRS 15.
2 Includes contract assets of CHF 0 million (previous year: CHF 12 million)
Alpiq usually grants its customers payment deadlines of no longer than 30 days. In certain cases, the payment deadline can be 60 days. Trade receivables from and trade payables to the same counterparties are offset, provided that a netting agreement has been reached with the counterparties, and payment is made on a net basis. For more information, please refer to note 3.1.
Age analysis of trade receivables
|
|
|
|
||||
|
|
31 Dec 2021 |
31 Dec 2020 |
||||
|
CHF million |
Gross |
Impairment |
Net (Balance sheet) |
Gross |
Impairment |
Net (Balance sheet) |
|
Not past due |
1,479 |
|
1,479 |
668 |
|
668 |
|
1 – 90 days past due |
296 |
– 148 |
148 |
31 |
– 1 |
30 |
|
91 – 180 days past due |
37 |
– 30 |
7 |
1 |
– 1 |
|
|
181 – 360 days past due |
1 |
– 1 |
|
|
|
|
|
Over 360 days past due |
49 |
– 37 |
12 |
57 |
– 41 |
16 |
|
Total |
1,862 |
– 216 |
1,646 |
757 |
– 43 |
714 |
Impairment of trade receivables
|
CHF million |
31 Dec 2021 |
31 Dec 2020 |
|
Carrying amount before impairment |
1,862 |
757 |
|
Of which, impaired |
– 216 |
– 43 |
|
Impairment at beginning of year |
– 43 |
– 46 |
|
Impairment charge for the year 1 |
– 79 |
– 1 |
|
Valuation adjustment of realised energy derivatives |
– 108 |
|
|
Amounts written off as uncollectible |
2 |
1 |
|
Unused amounts reversed |
3 |
2 |
|
Currency translation differences |
9 |
1 |
|
Impairment at end of year 2 |
– 216 |
– 43 |
1 Of which, an amount of CHF – 2 million (previous year: CHF – 1 million) stems from contracts with customers pursuant to IFRS 15.
2 Of which, an amount of CHF – 39 million (previous year: CHF – 43 million) stems from contracts with customers pursuant to IFRS 15.
The impairment comprises specific bad debt allowances of CHF 215 million (previous year: CHF 42 million) that were recognised for receivables with concrete indications of a default risk (e.g. insolvency). In accordance with the expected credit loss model, it also includes general bad debt allowances of CHF 1 million (CHF 1 million) due to the inherent default risk for receivables. For this, individual probabilities of default are calculated for each counterparty amounting to between 0.0 % and 20.3 % (previous year: between 0.0 % and 19.4 %), depending on the maturity of the trade receivables.
Accounting policies
The accounting policies for financial receivables are disclosed in note 3.2.