15. TRADE RECEIVABLES

Trade receivables may be broken down as follows:

(in thousands of euro)  
  12/31/2011 12/31/2010
  Total NON-CURRENT CURRENT Total NON-CURRENT CURRENT
Customers 813,173 - 813,173 739,855 - 739,855
Receivable for
contract work
207 - 207 207 - 207
 
813,380 - 813,380 740,062 - 740,062
Provision for bad
debts
(68,142) - (68,142) (63,381)   (63,381)
  
745,238 - 745,238 676,681 - 676,681

 

Gross trade receivables totalled euro 813,380 thousand (euro 740,062 thousand at December 31, 2010), and of these euro 119,089 thousand were past due (euro 102,075 thousand at December 31, 2010).

Receivables past due and not yet due were impaired in accordance with the Group accounting policies described in the section on adopted accounting standards.

Impaired receivables include both significant single positions subject to individual impairment and positions sharing similar credit risk characteristics that have been grouped together and impaired on a collective basis.

The change in the provision for bad debts is shown below:

(in thousands of euro)
    
12/31/2011 12/31/2010
Opening balance 63,381 77,874
Discontinued operations   (18,361)
Translation differences (1,403) 2,101
Accruals 20,667 12,995
Utilisation / releases (14,581) (11,322)
Other 78 94
Closing balance 68,142 63,381

 

Accruals to the provision for bad debts are recognised in the income statement at the item “Other costs” (note 34).

For trade receivables, the carrying amount is considered approximate to the fair value.