4.5 Receivables and other current assets
|
CHF million |
31 Dec 2022 |
31 Dec 2021 |
|
Trade receivables 1 |
2,153 |
1,646 |
|
Prepayments to suppliers |
12 |
16 |
|
Other current receivables |
1,716 |
1,120 |
|
Total |
3,881 |
2,782 |
1 Of which, an amount of CHF 1,187 million (previous year: CHF 1,033 million) stems from contracts with customers pursuant to IFRS 15.
Alpiq usually grants its customers a payment term of no longer than 30 days. In certain cases, the payment term 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
|
|
|
|
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|
|
31 Dec 2022 |
31 Dec 2021 |
||||
|
CHF million |
Gross |
Allowance for ECL |
Net (balance sheet) |
Gross |
Allowance for ECL |
Net (balance sheet) |
|
Not past due |
2,032 |
– 5 |
2,027 |
1,479 |
|
1,479 |
|
1 – 90 days past due |
186 |
– 74 |
112 |
296 |
– 148 |
148 |
|
91 – 180 days past due |
8 |
|
8 |
37 |
– 30 |
7 |
|
181 – 360 days past due |
20 |
– 18 |
2 |
1 |
– 1 |
|
|
Over 360 days past due |
141 |
– 137 |
4 |
49 |
– 37 |
12 |
|
Total |
2,387 |
– 234 |
2,153 |
1,862 |
– 216 |
1,646 |
Allowance for expected credit loss (ECL) on trade receivables
|
CHF million |
31 Dec 2022 |
31 Dec 2021 |
|
Carrying amount before impairment |
2,387 |
1,862 |
|
Of which, impaired |
– 234 |
– 216 |
|
Impairment at beginning of year |
– 216 |
– 43 |
|
Impairment charge for the year 1 |
– 65 |
– 79 |
|
Valuation adjustment of realised energy derivatives |
|
– 108 |
|
Amounts written off as uncollectible |
27 |
2 |
|
Unused amounts reversed |
10 |
3 |
|
Currency translation differences |
10 |
9 |
|
Impairment at end of year 2 |
– 234 |
– 216 |
1 Of which, an amount of CHF – 2 million (previous year: CHF – 2 million) stems from contracts with customers pursuant to IFRS 15.
2 Of which, an amount of CHF – 29 million (previous year: CHF – 39 million) stems from contracts with customers pursuant to IFRS 15.
The impairment comprises specific bad debt allowances of CHF 233 million (previous year: CHF 215 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 19.0 % (previous year: between 0.0 % and 20.3 %), depending on the maturity of the trade receivables.
Accounting policies
The accounting policies for financial receivables are disclosed in note 3.2.