7.Trade Notes and Accounts Receivable, Net
Trade notes and accounts receivable as of December 31, 2017 and 2016, consisted of:
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|
2017 |
|
2016 |
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|
Non-interest bearing notes received from customers as deposits and advances mainly in connection with annual (“upfront basis”) and from time to time (“scatter basis”) prepayments (see Note 2 (o)) |
|
Ps. |
17,309,800 |
|
Ps. |
18,716,562 |
|
|
Trade accounts receivable |
|
11,074,352 |
|
10,056,382 |
|
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|
Allowance for doubtful accounts |
|
(3,657,079 |
) |
(3,866,492 |
) |
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|
|
|
|
|
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||
|
|
|
Ps. |
24,727,073 |
|
Ps. |
24,906,452 |
|
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As of December 31, 2017 and 2016, the aging analysis of the trade notes and accounts receivable that were past due is as follows:
|
|
|
2017 |
|
2016 |
|
||
|
1 to 90 days |
|
Ps. |
3,830,620 |
|
Ps. |
5,421,772 |
|
|
91 to 180 days |
|
1,019,717 |
|
1,303,596 |
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|
More than 180 days |
|
4,295,611 |
|
3,233,269 |
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The carrying amounts of the Group’s trade notes and account receivables denominated in other than peso currencies are as follows:
|
|
|
2017 |
|
2016 |
|
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|
U.S. dollar |
|
Ps. |
2,103,300 |
|
Ps. |
3,508,188 |
|
|
Other currencies |
|
210,621 |
|
325,116 |
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|
|
|
|
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At December 31 |
|
Ps. |
2,313,921 |
|
Ps. |
3,833,304 |
|
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Movements on the Group allowance for doubtful accounts of trade notes and account receivables are as follows:
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|
|
2017 |
|
2016 |
|
||
|
At January 1 |
|
Ps. |
(3,866,492 |
) |
Ps. |
(3,679,505 |
) |
|
Impairment provision |
|
(2,007,316 |
) |
(2,461,596 |
) |
||
|
Write-off of receivables |
|
1,331,319 |
|
1,440,582 |
|
||
|
Unused amounts reversed |
|
885,410 |
|
834,027 |
|
||
|
|
|
|
|
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|
At December 31 |
|
Ps. |
(3,657,079 |
) |
Ps. |
(3,866,492 |
) |
|
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|
|
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The maximum exposure to credit risk of the trade notes and accounts receivable as of December 31, 2017 and 2016 is the carrying value of each class of receivables mentioned above.