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Jotun Annual Report 2014

61 JOTUN A/S Note 11 INVENTORIES (NOK thousand) 31.12.2014 31.12.2013 Raw materials at cost 118 444 147 554 Finished goods at cost 211 627 273 669 Allowance for obsolescence -9 000 -12 480 Total 321 071 408 743 Jotun Powder Coatings (N) AS had inventory amounting net NOK 15 million per 31.12.2013. In 2014 all inventory has been sold to Jotun Sverige AB. Inventories are valued at the lowest value of cost and net realiasable value. Cost of inventories are assigned by using weighted average cost formula. Note 12 RECEIVABLES (NOK thousand) Accounts receivable external 69 439 64 090 Accounts receivable Group companies 529 330 244 811 Other receivables external 67 330 51 873 Other receivables Group companies 282 949 277 866 Total receivables 949 048 638 640 Changes in allowances for bad debt is shown in the following table: (NOK thousand) Allowances for bad debt as of 1 January 41 135 Allowances for bad debt made during the period 177 102 Realised losses for the year -168 -196 Total allowances for bad debt as of 31 December 50 41 Overdue Total Not due 61-90 days More than 91 days Less than (NOK thousand) 30 days 31-60 days 2014* 69 489 52 295 13 026 801 197 3 169 2013* 64 132 43 912 13 372 4 169 - 2 679 *) Does not include allowance for bad debt. 31.12.2014 31.12.2014 31.12.2013 31.12.2013 Jotun Powder Coatings (N) AS had NOK 17 million in external receivables, and NOK 7 million in receivables against Group companies in 2013. Jotun Powder Coatings (N) AS had other receivables against Group companies amounting 138 million in 2013, of this amount NOK 128 million was connected to cash pool receivables against Jotun A/S. See note 13 for more information. There was no allowances for bad debt in Jotun Powder Coatings (N) AS in 2013. Allowances for credit losses have been evaluated upon individual basis on the accounts receivables and other receivables. Credit risk and foreign exchange risk regarding accounts receivable is discussed in note 21. Aging of external receivables as of 31 December was as follows:


Jotun Annual Report 2014
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