Saint Gobain - Registration document 2016

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9 FINANCIAL AND ACCOUNTING INFORMATION
1. 2016 Consolidated Financial Statements
220 SAINT-GOBAIN - REGISTRATION DOCUMENT 2016
At December 31, 2016 and 2015, inventories were as follows:
(in € millions) Dec. 31, 2016 Dec. 31, 2015
Gross value
Raw materials 1,327 1,282
Work in progress 318 284
Finished goods 4,678 4,610
GROSS INVENTORIES 6,323 6,176
Provision for impairment
Raw materials (143) (149)
Work in progress (11) (13)
Finished goods (294) (299)
TOTAL PROVISION FOR IMPAIRMENT (448) (461)
NET VALUE 5,875 5,715
The net value of inventories was €5,875 million at
December 31, 2016 compared with €5,715 million at
December 31, 2015.
Impairment losses on inventories recorded in the 2016 income
statement totaled €176 million (€208 million in 2015).
€152 million in 2016 (€125 million in 2015).
Reversals of impairment losses on inventories amounted to
Operating and non-operating receivables 3.5.2
and payables
and payables are stated at their carrying amount which
approximates their fair value as they generally have maturities
of less than three months. Provisions for impairment are
booked to cover the risk of total or partial non-recovery.
Trade accounts receivable and payable and other receivables
provisions are set aside when appropriate.
credit risk is limited due to its diversified business line-up,
broad customer base and global presence. Past-due trade
receivables are regularly monitored and analyzed, and
The Group deems that its exposure to concentrations of
not transferred in substance to the financing institutions, they
remain on the balance sheet and a corresponding liability is
recognized in short-term debt (further information is
For trade receivables transferred under securitization
programs, the contracts concerned are analyzed and if
substantially all the risks associated with the receivables are
provided in Note 8.3.8).
Trade and other accounts receivable a)
follows:
Trade and other accounts receivable can be analyzed as
(in € millions) Dec. 31, 2016 Dec. 31, 2015
Gross value 5,361 5,201
Provision for impairment (426) (450)
TRADE ACCOUNTS RECEIVABLE 4,935 4,751
Discounts and advances to suppliers 567 504
Prepaid payroll taxes 24 16
Other prepaid and recoverable taxes
(other than income tax) 348 323
Miscellaneous operating receivables 248 252
Other non-operating receivables
and provisions 339 326
Provision for impairment of other
operating receivables (11) (16)
OTHER RECEIVABLES 1,515 1,405
€69 million (€69 million in 2015).
receivable in 2016 primarily reflect €84 million in additions
(€99 million in 2015) and €98 million in reversals (€103 million
in 2015), resulting from recoveries as well as write-offs. Bad
debt write-offs are also reported under this caption for
Change in impairment provisions for trade accounts
Net past-due trade receivables amounted to €904 million at
December 31, 2016 and €902 million at December 31, 2015,
including €187 million over three months past due
(€177 million at December 31, 2015).
Trade and other accounts payable b)
be analyzed as follows:
Trade and other accounts payable and accrued expenses can
(in € millions) Dec. 31, 2016 Dec. 31, 2015
TRADE ACCOUNTS PAYABLE 5,805 5,716
Customer deposits 1,056 927
Payables to suppliers of non-current assets 277 250
Grants received 88 97
Accrued personnel expenses 1,178 1,107
Accrued taxes other than on income 416 394
Other operating payables 521 566
Other non-operating payables 100 107
OTHER PAYABLES 3,636 3,448