Annual Report 2011 - Analist.be

11. InventoriesIn EUR million 2011 2010 2009Raw materials, consumables and parts 293.3 4.6 -Work in process 66.0 1.1 -Finished goods and goods for resale 387.8 6.9 -Other 3.4 0.1 -Gross total (before write-offs) 750.5 12.7 -Write-offs on inventory, of which: (53.3) - -Raw materials, consumables and parts (16.1) - -Works in process (0.5) - -Finished goods and goods for resale (36.7) - -Total 697.2 12.7 -Of which: Holding - - -Imerys 645.9 - -Private equity 51.3 - -12. Trade receivablesIn EUR million 2011 2010 2009Trade receivables 617.6 23.1 -Write-offs on doubtful debts (32.8) (0.3) -Total 584.8 22.8 -Of which: Holding - - -Imerys 526.9 - -Private equity 57.9 - -Accounts at 31 December 2011Trade receivables essentially concern Imerys. The carrying amount of trade receivables is representative of their fair value.Imerys implemented a factoring contract in 2009 in the framework of its cost-cutting and financial structure optimisation plan.On 31 December 2011, EUR 74 million in receiveable were transferred and taken out of consolidation. The risks and benefitsassociated with the receivables were transferred to the factoring bank.The following table shows the evolution of write-offs over the last three years:In EUR million 2011 2010 2009Write-offs on receivables at 1 January (0.3) - -Write-offs during the year (8.9) - -Reversals of write-offs 4.4 - -Group structure changes/Business combinations (27.0) - -Currency translation adjustments and other (1.0) (0.3) -Write-offs on receivables at 31 December (32.8) (0.3) -Trade receivables do not bear interest and generally have a 30- to 90-day deadline. After the income statement date, certaintrade receivables detailed below may fall due without being impaired, for example when covered by a credit insurance contractor a guarantee.In EUR million 2011 2010 2009Delay of no more than 1 month 51.7 - -Delay of 1 to 3 months 14.4 - -Delay of more than 3 months 8.7 - -Total trade receivables due and not written-off 74.8 - -Trade receivables not due and trade receivables due and written-off 510.0 22.8 -Net total of trade receivables 584.8 22.8 -Annual Report 2011 99