Investor Presentaiton
11. Trade receivables
Accounting policy
Trade receivables correspond to the amounts referring to the sale of
goods or provision of services in the normal course of the activities of the
Company and its subsidiaries.
They are initially recognized at fair value and subsequently measured at
amortized cost using the effective interest rate method less the estimated
loss on allowance for loan losses. Accounts receivable from customers in
the foreign market are updated based on the exchange rates in effect on
the balance sheet date.
(a) Breakdown
U.S. dollar
Euro
Colombian peso
(b) Breakdown by currency
2021
2020
Brazilian real
1,581
1,334
1,489
1,213
181
309
131
97
71
66
62
61
83
55
54
101
3,679
3,209
Turkish lira
Uruguayan peso
Moroccan dirham
Argentine peso
Other
(c) Changes in estimated loss for doubtful accounts
Opening balance
Additions, net
Receivables written off as uncollectible (i)
2021
2020
Effect of subsidiaries excluded from consolidation
Trade receivables - Brazil
1,445
1,475
Trade receivables - foreign customers
Foreign exchange variations
2,349
1,892
Related parties
Closing balance
39
64
3,833
3,431
2021
2020
(222)
(191)
(44)
69
21
(5)
(2)
(6)
(154)
(222)
(i) (i) The debits on the estimated loss account with doubtful accounts are generally writ-
ten off when there is no expectation of recovery of funds.
Allowance for doubtful accounts
(154)
(222)
3,679
3,209
(d) Aging of trade receivables
144
Current
Up to three months past due
Three to six months past due
Over six months past due
2021
2020
3,473
2,945
137
166
20
14
203
306
3,833
3,431
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