The carrying value of trade and other receivables was distributed as follows.
|
|
December 31, | |
|---|---|---|
| SEK in millions | 2008 | 2007 |
| Accounts receivable |
|
|
| Invoiced receivables | 889 | 1,809 |
| Allowance for doubtful receivables | -200 | -209 |
| Total accounts receivable at amortized cost | 689 | 1,600 |
| Currency swaps and forward exchange contracts held-for-trading | 1,072 | 141 |
| Receivables from associated companies at amortized cost | 3 | 4 |
| Loans and receivables at amortized cost | 81 | 145 |
| Subtotal (see Categories – Note 21 and Credit risk – Note 22) | 1,845 | 1,890 |
| Receivables from subsidiaries | 31,827 | 34,688 |
| of which cash-pool balances | 27,104 | 26,339 |
| of which trade and other receivables | 4,723 | 8,349 |
| Other current receivables | 213 | 453 |
| Deferred expenses | 153 | 145 |
| Total trade and other receivables | 34,038 | 37,176 |
| of which interest-bearing | 27,282 | 26,635 |
| of which non-interest-bearing | 6,756 | 10,541 |
For Accounts receivable and Loans and receivables, the carrying values equal fair value as the impact of discounting is insignificant. For Accounts receivable and Loans and receivables (including receivables from associated companies), as of the balance sheet date, concentration of credit risk by geographical area and by customer segment was as follows.
|
Geographical area SEK in millions |
December 31, 2008 |
|---|---|
| Sweden | 766 |
| Other countries | 7 |
| Total carrying value | 773 |
|
Customer segment SEK in millions |
December 31, 2008 |
|---|---|
| Other operators | 576 |
| Other customers | 197 |
| Total carrying value | 773 |
For more information on financial instruments by category and exposed to credit risk, refer to Note 21 “Financial Assets and Liabilities by Category” and section “Credit risk management” in Note 22 “Financial Risk Management,” respectively. Conventional commercial terms apply for receivables from subsidiaries.
As of the balance sheet date, ageing of Accounts receivable and Loans and receivables (including receivables from associated companies) were as follows.
|
|
December 31, 2008 | |
|---|---|---|
| SEK in millions | Accounts receivable | Loans and receivables |
| Not due | 297 | 16 |
| Receivables past due but not impaired |
|
|
| Less than 30 days | 145 | – |
| 30 – 180 days | 4 | – |
| More than 180 days | 243 | 68 |
| Total past due but not impaired | 392 | 68 |
| Total carrying value | 689 | 84 |
Receivables past due as of the balance sheet date were not provided for as there had not been a significant change in credit quality and the amounts were still considered recoverable. TeliaSonera AB does not hold any significant collateral over these balances. Balances past due more than 180 days mainly referred to settlements with other operators regarding traffic passed in transit through TeliaSonera's fixed network. See also “Notes to Consolidated Financial Statements” (section “Credit risk management” in Note 28) for information on mitigation of credit risks related to accounts receivable.
Total bad debt expenses were SEK 34 million in 2008 and SEK 23 million in 2007, while there was no recovered accounts receivable in these years. The allowance for doubtful accounts receivable changed as follows.
|
|
December 31, | |
|---|---|---|
| SEK in millions | 2008 | 2007 |
| Opening balance | 209 | 181 |
| Provisions for receivables impaired | 34 | 72 |
| Unused amounts reversed | -43 | -44 |
| Closing balance | 200 | 209 |