RusHydro Group
Notes to the Consolidated Financial Statements as at and for the year ended
31 December 2015
(in millions of Russian Rubles unless noted otherwise)
47
Cash and cash equivalents are deposited in several institutions as follows:
Rating*
Rating agency
31 December
2015
31 December
2014
Cash at banks
PJSC Sberbank
BBB-
Fitch Ratings
4,630
5,354
Bank GPB (JSC)
BB+
Fitch Ratings
3,573
5,996
Peresvet Bank
B+
Fitch Ratings
1,405
1,228
PJSC Bank VTB
BB+
Standard & Poor’s
719
83
JSC Alfa-Bank
Ba2
Moody’s
364
12
PJSC VTB24
Ba1
Moody’s
230
200
CJSC ARDSHINBANK
B+
Fitch Ratings
170
8
PJSC Bank Vozrozhdenie
BB-
Standard & Poor’s
135
68
PJSC ROSBANK
BBB-
Fitch Ratings
124
158
UBS AG
А
Fitch Ratings
105
526
LLC Creditinvestbank
-
-
-
262
JSC Bank Severny Morskoy Put
-
-
-
187
PJSC Kamchatkomargoprombank
-
-
-
170
JSC InvestCapitalBank
-
-
-
159
Other
-
-
402
549
Total cash at banks
11,857
14,960
Bank deposits
PJSC Sberbank
BBB-
Fitch Ratings
8,992
5,613
PJSC Bank FK Otkritie
BB-
Standard & Poor’s
7,753
65
Peresvet Bank
B+
Fitch Ratings
6,280
7,319
PJSC Bank VTB
BB+
Standard & Poor’s
4,832
65
Sviaz-Bank
BB-
Standard & Poor’s
2,724
-
Bank GPB (JSC)
BB+
Fitch Ratings
2,084
2,892
JSC Bank Severny Morskoy Put
-
-
1,875
-
GLOBEXBANK
BB-
Fitch Ratings
1,000
-
JSC Rosselkhozbank
BB+
Fitch Ratings
519
39
PJSC ROSBANK
BBB-
Fitch Ratings
22
507
JSC UniCredit Bank
-
-
-
2,347
PJSC Asian-Pacific Bank
-
-
-
278
PJSC Promsvyazbank
-
-
-
103
Other
-
-
56
189
Total cash equivalents
36,137
19,417
RusHydro Group
Notes to the Consolidated Financial Statements as at and for the year ended
31 December 2015
(in millions of Russian Rubles unless noted otherwise)
48
Note 12.
Accounts receivable and prepayments
31 December 2015
31 December 2014
Trade receivables
55,075
50,931
Provision for impairment of trade receivables
(20,158)
(18,643)
Trade receivables, net
34,917
32,288
VAT recoverable
8,156
8,683
Advances to suppliers and other prepayments
3,540
3,957
Provision for impairment of advances to suppliers and other
prepayments
(1,021)
(670)
Advances to suppliers and other prepayments, net
2,519
3,287
Other receivables
7,248
6,637
Provision for impairment of other receivables
(3,194)
(2,883)
Other receivables, net
4,054
3,754
Total accounts receivable and prepayments
49,646
48,012
The provision for impairment of accounts receivable has been determined based on specific customer
identification, customer payment trends, subsequent receipts and settlements and the analysis of expected
future cash flows (Note 2). The Group believes that the Group’s subsidiaries will be able to realise the net
receivable amount through direct collections and other non-cash settlements, and the carrying value
approximates their fair value.
Movements in the impairment provision for accounts receivables and prepayments are as follows:
Year ended
31 December 2015
Year ended
31 December 2014
As at 1 January
21,526
17,779
Charge for the year
6,650
8,534
Reversal of impairment
(3,808)
(3,230)
Trade receivables written-off as uncollectible
(1,016)
(1,557)
As at 31 December
23,352
21,526
The ageing analysis of trade and other finance accounts receivable is as follows:
31 December 2015
Provision as at
31 December 2015
31 December 2014
Provision as at
31 December 2014
Not past due
29,622
(2,426)
26,143
(967)
Past due for less than 3 months
6,655
(1,260)
6,229
(953)
Past due for 3 months to 1 year
7,499
(2,834)
8,139
(3,838)
Past due for more than 1 year
17,959
(16,832)
16,127
(15,768)
Total
61,735
(23,352)
56,638
(21,526)
The majority of trade debtors which are neither past due nor impaired could be aggregated in several
groups based on similarities in their credit quality: large industrial consumers – participants of the wholesale
and retail electricity and capacity market as well as public sector entities and population.
The Group does not hold any accounts receivable pledged as collateral.
Note 13.
Inventories
31 December 2015 31 December 2014
Fuel
14,291
13,229
Materials and supplies
6,555
6,383
Spare parts
2,782
2,085
Other materials
606
645
Total inventories before provision for impairment
24,234
22,342
Provision for impairment of inventories
(235)
(209)
Total inventories
23,999
22,133
There are no inventories pledged as collateral for borrowings as at 31 December 2015 and as at 31 December 2014.
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