133 / 143
PARENT COMPANY FINANCIAL STATEMENTS • 131
TRADE RECEIVABLES
DKK million
2016
2015
Analysis of trade receivables at 31 December
Not past due
25
26
Up to 30 days
1
-
Between 30 and 60 days
-
-
Between 60 and 90 days
-
-
Over 90 days
-
1
Total past due, not impaired
1
1
Total trade receivables at 31 December
26
27
Analysis of movements in bad debt write-downs
Write-downs at 1 January
1
4
Additions
-
1
Utilised
-
-4
Write-downs at 31 December
1
1
Historically, PANDORA A/S has not suffered any significant bad debt losses.
PROVISIONS
3.5
3.6
Sales return
Other
DKK million
provisions
provisions
Total
2016
Provisions at 1 January
438
33
471
Made in the year
601
-
601
Utilised in the year
-364
-13
-377
Unused provisions reversed
-29
-20
-49
Provisions at 31 December
646
-
646
Provisions are recognised in the balance sheet as follows:
Current
646
-
646
Non-current
-
-
-
Total provisions at 31 December
646
-
646
2015
Provisions at 1 January
141
15
156
Made in the year
438
18
456
Utilised in the year
-139
-
-139
Unused provisions reversed
-2
-
-2
Provisions at 31 December
438
33
471
Provisions are recognised in the balance sheet as follows:
Current
438
3
441
Non-current
-
30
30
Total provisions at 31 December
438
33
471
NOTES FOR THE
PARENT COMPANY
Sales return provisions
According to the distribution agreements, a provision
is made for expected sales returns from customers and
subsidiaries. The provision is based on historical experience
and is measured at the gross margin on expected sales
returns, including write-downs related to remelting of
returns that are not expected to be sold.