Anglo American Annual Report 2012

21. TRADE AND OTHER RECEIVABLESDue withinone yearDue afterone year2012 2011Due withinone yearDue afterone yearUS$ millionTotalTotalTrade receivables 2,520 204 2,724 2,704 168 2,872Other receivables 570 318 888 744 236 980Prepayments and accrued income 185 50 235 226 33 2593,275 572 3,847 3,674 437 4,111The historical level of customer default is minimal and as a result the credit quality of year end trade receivables which are not past due is considered to behigh. Of the year end trade receivables balance the following were past due at 31 December (stated after associated impairment provision):US$ million 2012 2011Less than one month 29 137Greater than one month, less than two months 7 16Greater than two months, less than three months 2 7Greater than three months 4 1942 179The overdue debtor ageing profile above is typical of the industry in which certain of the Group’s businesses operate. Given this, the existing insurance cover(including letters of credit from financial institutions) and the nature of the related counterparties, these amounts are considered recoverable.Total trade receivables are stated net of the following impairment provision:US$ million 2012 2011At 1 January 54 53Charge for the year – 6Unused amounts reversed (6) –Disposals and transfer to assets held for sale (25) (3)Currency movements – (2)At 31 December 23 5422. TRADE AND OTHER PAYABLESUS$ million 2012 2011Trade payables 2,701 3,001Tax and social security 105 177Other payables 707 939Accruals and deferred income (1) 1,041 9814,554 5,098(1)Includes $18 million (2011: nil) of deferred income recorded within non-current liabilities.Financial statements23. FINANCIAL ASSETSThe carrying amounts and fair values of financial assets are as follows:Estimatedfair value2012 2011CarryingvalueEstimatedfair valueUS$ millionAt fair value through profit and lossTrade and other receivables (1) 581 581 596 596Derivative financial assets (2) 848 848 840 840Loans and receivablesCash and cash equivalents 9,094 9,094 11,732 11,732Trade and other receivables (1) 3,031 3,031 3,256 3,256Financial asset investments 1,286 1,316 1,647 1,690Available for sale investmentsFinancial asset investments 1,064 1,064 1,206 1,206Total financial assets 15,904 15,934 19,277 19,320(1)Trade and other receivables exclude prepayments and accrued income.(2)Derivative instruments are analysed between those which are ‘Held for trading’ and those designated into hedge relationships in note 25.CarryingvalueFor financial assets which are traded on an active market, such as listed investments, fair value is determined by reference to market value. For non-tradedfinancial assets, fair value is calculated using discounted cash flows, considered to be reasonable and consistent with those that would be used by a marketparticipant, unless carrying value is considered to approximate fair value.Anglo American plc Annual Report 2012 165