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(Trade) accounts receivable: 1,241 million (2009: 1,136)

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At 31 December 2010   2009
Trade accounts receivable – total 1,149   1,024
Allowance for doubtful debt (74)   (71)
Trade accounts receivable 1,075   953
 
Vat receivable 15   24
Accounts receivable from associates 1   (1)
Other accounts receivable 150   160
Accounts receivable 166   183
(in € millions)

The fair value of the accounts receivable approximates its carrying value. Other accounts receivables mainly include receivables from insurance companies, deposits and various other items. The balance of accounts receivable that is expected to be recovered after 12 months is €4 million (2009: 3). The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivables mentioned above. Express does not hold collateral as security for the outstanding balances. The concentration of the accounts receivable per customer is limited. The top ten trade receivables of Express account for 3% of the outstanding trade receivables as per 31 December 2010 (2009: 5%). The concentration of the trade accounts receivable portfolio over the different regions can be summarised as follows: Europe & MEA €714 million (2009: 671), ASPAC €219 million (2009: 176) and Americas €93 million (2009: 71). For the non-trade accounts receivables no allowance for doubtful debt is required.

As of 31 December 2010, the total trade accounts receivable amounted to €1,149 million (2009: 1,024), of which €407 million (2009: 351) was past due date but not individually impaired. The standard payment term for Express is around seven days. The total allowance for doubtful debt amounts to €74 million (2009: 71) of which €34 million (2009: 35) relates to trade accounts receivable that were individually impaired for the notional amount. The remainder of the allowance relates to a collective loss component established for groups of similar trade accounts receivable balances in respect to losses that have been incurred but not yet identified as such for trade accounts receivable. This collective loss component is largely based on the ageing of the trade receivables and reviewed periodically.

The ageing analysis of the trade accounts receivable past due but not individually impaired is presented below:

At 31 December 2010   2009
Up to 1 month 284   246
2-3 months 84   74
3-6 months 23   21
Over 6 months 16   10
Total 407   351
(in € millions)

The movements in the allowance for doubtful debt of trade accounts receivables are as follows:

  2010   2009
Balance at 1 January 71   63
Provided for during financial year 34   35
Receivables written off during year as uncollectable (25)   (26)
Unused amounts reversed (6)   (1)
Balance at 31 December 74   71
(in € millions)