Investor Presentaiton
148
43
ANNUAL INTEGRATED REPORT 2021 | AXTEL
06
CASH AND CASH EQUIVALENTS
Cash and cash equivalents presented in the consolidated statement
of financial position consist of the following:
08
TRADE AND OTHER ACCOUNTS RECEIVABLE, NET
Trade and other accounts receivable are comprised as follows:
2021
2020
2019
Current:
Cash on hand and in banks
Short-term investments
Total cash and cash equivalents
2021
$1,305,022
308,675
$1,613,697
2020
$1,747,864
1,376,091
$3,123,955
2019
$139,197
Trade accounts receivable
$2,000,084
$2,168,349
718,545
$857,742
Allowance for impairment of accounts
receivable (1)
Trade accounts receivable, net
(304,637)
1,695,447
Recoverable taxes
Notes and other accounts
receivable
Related parties
72,605
689,442
35,260
$2,492,754
$3,634,751
(373,335) (1,208,739)
1,795,014
2,426,012
56,775
34,674
1,041,257
860,528
8,202
23,460
$2,901,248 $3,344,674
07
RESTRICTED CASH
As of December 31, 2021, 2020 and 2019, the balance of restricted
cash was $0, $261,827 (US$13 million) and $0, respectively.
The balance as of December 31, 2020 is related to an escrow
originated from the sale transaction of the three data centers located
in Queretaro and Monterrey to Equinix. This balance was released on
January 8, 2021.
As of December 31, 2019, the restricted cash balance is $0 because
on February 28, 2019, a ruling was handed down in favor of Alestra
related to the disputes on the resale interconnection rates established
between Alestra and Telmex and Telefonos del Norte ("Telnor", a
subsidiary of Telmex), allowing the withdrawal of the outstanding
balance of the amounts contributed to the trust and its corresponding
returns.
(1) Movements of the allowance for impairment of accounts receivables
are as follows:
Initial balance
Write-off of doubtful accounts (2)
Allowance for doubtful accounts for
the year
Ending balance
2021
$373,335
(42,555)
(26,143)
$304,637
2020
$1,208,739
48,891
(884,295)
$ 373,335
2019
$2,172,343
45,631
(1,009,235)
$1,208,739
(2) The net variance in the allowance for doubtful accounts in 2021,
2020 and 2019 are mainly due to the increase in the probability of
default assigned to certain customers with respect to the beginning
of the year. In addition, they consider the reversals of impairment
that arise when an account receivable, which had previously been
impaired, becomes recoverable because the customer settled the
outstanding balance.
The following describes the probability of default ranges and recovery
rates allocated to the main customer segments with which the
company has balances receivable in its different businesses:
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