Notes to the consolidated financial statements
97
16 Inventories
17 Receivables
Ahold at a glance
Business review
Governance
Financials
Ahold
Annual Report 2014
millior
December 28,
2014
December 29,
2013
Finished products and merchandise inventories
1,543
1,410
Raw materials, packaging materials, technical supplies and other
46
40
Total inventories
1,589
1,450
In 2014, €664 million has been recognized as a write-off of inventories in the income statement (2013: €644 million). The write-off of inventories is Ahold's best estimate based on significant assumptions applied to certain
products measured using the retail method.
December 28,
December 29,
million
2014
2013
Trade receivables
390
358
Vendor allowance receivables
203
191
Other receivables
155
135
748
684
Provision for impairment
(20)
(19)
Total receivables 728 665
The receivable balances are presented net of accounts payable subject to an enforceable netting arrangement between the Company and the counterparty. The total effect of netting as of December 28, 2014 is €136 million
(December 29, 2013: €136 million, adjusted from last year's disclosure of €114 million).
At December 28, 2014, the aging analysis of receivables was as follows:
Past due
million
Total
Not past
due
0-3
months
3-6
months
6-12
months
12
months
Trade receivables
390
288
60
11
14
17
Vendor allowance receivables
203
173
25
3
1
1
Other receivables
155
94
41
13
1
6
748
555
126
27
16
24
Provision for impairment
(20)
(2)
(1)
(2)
(15)
Total receivables
728
555
124
26
14
9
Receivables that were past due but not impaired relate to a number of independent customers for whom there is no recent history of default.