206 / 330
FINANCIAL INFORMATION
4.2 Consolidated financial statements
4
206
Registration Document 2016 — Capgemini
Accounts and notes receivable
Note 19
At December 31
(in millions of euros)
Note
2015
2016
Accounts receivable
1,924
1,996
Provisions for doubtful accounts
(15)
(27)
Accrued income
1,037
1,012
Accounts and notes receivable, excluding capitalized costs on projects
22
2,946
2,981
Capitalized costs on projects
22
109
93
ACCOUNTS AND NOTES RECEIVABLE
3,055
3,074
number of days revenue:
Total accounts receivable and accrued income net of advances from customers and billed in advance, can be analyzed as follows in
At December 31
(in millions of euros)
Note
2015
2016
Accounts and notes receivable, excluding capitalized costs on projects
22
2,946
2,981
Advances from customers and billed in advance
22
(739)
(737)
CUSTOMERS AND BILLED IN ADVANCE
TOTAL ACCOUNTS RECEIVABLE NET OF ADVANCES FROM
2,207
2,244
In number of days’ annual revenue
(1)
64
64
This ratio is adjusted to take account of the impact of entries into the scope of consolidation.
(1)
in 2015) and were therefore derecognized in the Statement of Financial Position at December 31, 2016.
In 2016, receivables totaling €66 million were assigned with transfer of credit risk as defined by IAS 39 to a financial institution (€43 million
Aged analysis of accounts receivable
The low bad debt ratio reflects the fact that most invoices are only issued after the client has validated the services provided.
At end-2016, past due balances totaled €341 million, representing 17.3% of accounts and notes receivable less provisions for doubtful
accounts. The breakdown is as follows:
in millions of euros
<30 days
<90 days
>30 days and
>90 days
Net accounts receivable
206
88
47
As a % of accounts and notes receivable, net of provisions for doubtful accounts
10.4%
4.5%
2.4%
Past due balances concern accounts receivable from clients
which are individually analyzed and monitored.
Credit risk
The Group’s 5 largest clients contribute around 11% of Group
and the sheer diversity of the other smaller clients help limit credit
revenues (stable on 2015). The top 10 clients collectively account
for 16% of Group revenues. The solvency of these major clients
from these clients. However, the Group does not consider that
any of its clients, business sectors or geographic areas present a
risk. The economic environment could impact the business
activities of the Group’s clients, as well as the amounts receivable
significant credit risk that could materially impact the financial
position of the Group as a whole.