14 Trade accounts receivable
| 2015 | 2016 |
CHF 1,000 |
|
|
Trade accounts receivable |
|
|
Denominated in CHF | 22,121 | 27,456 |
Denominated in EUR | 20,241 | 19,533 |
Denominated in GBP | 3,199 | 1,996 |
Denominated in USD | 37,029 | 40,856 |
Denominated in JPY | 1,756 | 2,369 |
Denominated in other currencies | 5,099 | 4,988 |
Subtotal trade accounts receivable | 89,445 | 97,198 |
|
|
|
Allowance for doubtful accounts |
|
|
Individual impairment allowance account | (1,831) | (1,851) |
Collective impairment allowance account | (199) | (360) |
Subtotal allowance for doubtful accounts | (2,030) | (2,211) |
|
|
|
Construction contracts in progress |
|
|
Aggregate amount of cost incurred and recognized profits | 2,830 | 15,915 |
Allowance | – | (1,247) |
Amounts of advances received | (955) | (12,610) |
Subtotal construction contracts in progress | 1,875 | 2,058 |
|
|
|
Balance at December 31 | 89,290 | 97,045 |
|
|
|
(Decrease)/increase | (12,764) | 4,529 |
Acquisition through business combination | 6,584 | 3,180 |
Translation differences | (2,479) | 46 |
Total change compared with previous year | (8,659) | 7,755 |
|
|
|
Amount of contract revenue recognized as sales in the statement of profit or loss relating to construction contracts | 3,455 | 7,074 |
The maximum exposure to credit risk for trade accounts receivable at the reporting date by geographic region was:
| 2015 | 2016 |
CHF 1,000 |
|
|
Switzerland (domestic) | 4,157 | 3,329 |
Euro-zone countries | 26,159 | 20,744 |
Other European countries | 7,757 | 7,509 |
North America | 40,436 | 55,089 |
Asia | 8,027 | 9,153 |
Other | 2,909 | 1,374 |
|
|
|
Balance at December 31 | 89,445 | 97,198 |
The Group’s most significant customer accounts for 11.3% of the trade accounts receivable carrying amount at December 31, 2016 (December 31, 2015: 8.6%).
The movement in the allowance for impairment in respect of trade accounts receivable during the year was as follows:
| 2015 | 2016 |
CHF 1,000 |
|
|
Individual impairment allowance account |
|
|
Balance at January 1 | (1,542) | (1,831) |
Change in impairment losses | (424) | (74) |
Write-offs | 30 | 73 |
Translation differences | 105 | (19) |
|
|
|
Balance at December 31 | (1,831) | (1,851) |
|
|
|
Amount of trade accounts receivable with individual impairment (gross) | 1,928 | 1,936 |
|
|
|
Collective impairment allowance account |
|
|
Balance at January 1 | (233) | (199) |
Change in impairment losses | 15 | (163) |
Translation differences | 19 | 2 |
|
|
|
Balance at December 31 | (199) | (360) |
The due dates of trade accounts receivable that are not individually impaired were:
| 2015 | 2016 | ||
CHF 1,000 | Gross | Impairment | Gross | Impairment |
Not past due | 59,434 | (38) | 82,298 | (38) |
Past due 1 – 30 days | 22,660 | – | 11,137 | – |
Past due 31 – 90 days | 5,000 | – | 2,327 | – |
Past due 91 – 360 days | 433 | (134) | (350) | (321) |
Past due more than one year | (10) | (27) | (150) | (1) |
|
|
|
|
|
Balance at December 31 | 87,517 | (199) | 95,262 | (360) |
The Group did not experience any severe financial difficulties with its debtors in the past. The sum of all recognized final write-offs of trade accounts receivable in 2015 and 2016 represents less than 1% of sales.
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