Accounts receivable consist mainly of the currencies US dollar, euro, Japanese yen and British pound and are as follows:
| Accounts Receivable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| € in millions |
| Dec. 31 2007 |
Dec. 31 2006 |
|
| Accounts receivable, gross | 1,570 | 1,527 |
| Less: allowance for doubtful accounts | 111 | 112 |
| Accounts receivable, net | 1,459 | 1,415 |
Specific allowances on accounts receivable exist in the amount of € 38 million as at December 31, 2007.
| Movement in Allowances for Doubtful Accounts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| € in millions |
| 2007 | 2006 | |
| Allowances at January 1 |
112 |
81 |
| Additions |
78 |
62 |
| Additions – Reebok acquisition |
— |
58 |
| Reversals | (64) | (62) |
| Write-offs charged against the allowance accounts | (10) | (21) |
| Currency translation differences | (4) | (5) |
| Other changes | (1) | (1) |
| Allowances at December 31 |
111 |
112 |
| Accounts Receivable Pas t Due but not Impaired | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| € in millions |
| past due 1 – 30 days |
past due 31 – 60 days |
past due 61-90 days |
past due 91 – 180 days |
past due more than 180 days |
|
| Dec. 31, 2007 | 166 | 64 | 15 | 12 | 6 |
| Dec. 31, 2006 | 164 | 55 | 12 | 12 | 10 |
With respect to accounts receivable past due but not impaired, based on credit history and current credit ratings, there are no indications that customers will not be able to meet their obligations.
Further, no indications of default are recognizable for accounts receivable that are neither past due nor impaired.