This item comprises:
| XLS |
|
|
|
€ million |
Dec. 31, 2011 |
Dec. 31, 2010 |
Receivables from affiliates |
– |
0.3 |
Receivables from associates |
– |
0.8 |
Receivables from third parties |
2,328.3 |
2,295.2 |
|
2,328.3 |
2,296.3 |
Trade accounts receivable past due are as follows:
| XLS |
|
|
|
€ million |
Dec. 31, 2011 |
Dec. 31, 2010 |
Neither past due nor impaired |
1,676.0 |
1,659.0 |
Past due, but not impaired |
|
|
up to 3 months |
196.5 |
265.7 |
up to 6 months |
29.2 |
107.4 |
up to 12 months |
17.7 |
96.4 |
over 1 year |
10.4 |
109.5 |
Impaired |
398.5 |
58.3 |
Book value |
2,328.3 |
2,296.3 |
The corresponding write-downs developed as follows:
| XLS |
|
|
|
€ million |
2011 |
2010 |
January 1 |
–58.9 |
–46.0 |
Additions (net) |
–113.8 |
–10.8 |
Utilizations |
23.6 |
5.2 |
Currency translation and other changes |
0.1 |
–7.3 |
December 31 |
–149.0 |
–58.9 |
In fiscal 2011, trade receivables in Italy and Portugal with a nominal value of € 124.1 million were sold for € 118.8 million. Sufficient write-downs were recorded for these trade receivables in previous years. The sold receivables do not involve any further rights of recovery vis-à-vis Merck.
Net additions to write-downs relate mainly to receivables from state hospitals and health care organizations in Italy, Spain, Greece and Portugal. The sharp increase compared to 2010 is attributable to the existing uncertainties in connection with the sovereign debt crisis in the eurozone. The measurement of the respective receivables takes into account country-specific risk discounts as well as the age structure.
With regard to other receivables that are neither impaired nor delayed, as of the reporting date there are no indications that the debtors will not meet their payment obligations.