Main page / Economic review / The structure of receivables and payables

The structure of receivables and payables

Overall receivables of the Company at the beginning of the year totaled RURRussian ruble 9,271 mnMillion falling down to RURRussian ruble 8,828 mnMillion by 31.12.2014. Receivables minus bad debt reserve as of 31.12.2014 totaled RURRussian ruble 7,662 mnMillion decreasing to RURRussian ruble 6,525 mnMillion by 31.12.2013. As of 31.12.2014 we formed a RURRussian ruble 1,167 mnMillion bad debt reserve, as of 31.12.2013 it totaled RURRussian ruble 2,746 mnMillion (shown in the balance sheet as receivables decrease) as well as RURRussian ruble 0.02 mnMillion reserve on advances for fixed asset acquisition (shown in the balance sheet as non-current assets and decrease of advance debts). We work closely with contractors on reconciliation (both pre-trial cooperation and litigation). We have also written off unlikely-to-be-collected receivables equaling RURRussian ruble 51.8 mnMillion, including RURRussian ruble 46.5 mnMillion bad debt reserve and RURRussian ruble 5.3 mnMillion for financial result.

 As of 31.12.2014As of 31.12.2013As of 31.12.2012
Receivables, including: 7,662 6,525 4,115
Payments due within over 12 months after the reported date 71 82 92
- purchasers and contractors 41 52 51
- bills receivable 0 0 0
- advances given 0 0 0
- other receivables 30 30 41
Payments due within 12 months after the reported date 7,591 6,442 4,023
- purchasers and contractors 6,989 5,759 3,214
- bills receivable 0 0 0
- dividend debt of SACSubsidiary and associated companys 0 0 0
- charter capital debts of founders 0 0 0

Overall payables in 2014 grew by RURRussian ruble 1,082 mnMillion in comparison to 2013 and as of 31.12.2014 it totaled RURRussian ruble 7,820 mnMillion. Debts on a Suppliers and Contractors line got higher by RURRussian ruble 51 mnMillion influenced by increased debt for energy transmission (RURRussian ruble 76 mnMillion), debt to construction companies (RURRussian ruble 254 mnMillion); decreased debt to repair companies (by RURRussian ruble 36 mnMillion), other suppliers and contractors (RURRussian ruble 97 mnMillion), other suppliers of electric and thermal energy (RURRussian ruble 146 mnMillion). The amount of advances obtained grew by RURRussian ruble 596 mnMillion, 71% of debt being connection advances. Debt related to salaries and wages grew by RURRussian ruble 30 mnMillion. Liabilities related to taxes and levies increased by RURRussian ruble 409 mnMillion. The Company had no overdue payables in 2014.

 As of 31.12.2014As of 31.12.2013As of 31.12.2012
Payables, including: 7,820 6,738 5,851
- suppliers and contractors 4,069 4,018 3,450
- bills payable 0 0 0
- debt related to salary and wages 349 319 207
- debt to state non-budgetary funds 139 115 113
- debt related to taxes and levies 705 296 103
- advances received 2,484 1,888 1,917
- debt related to payments to founders 5 0 0
- other payables 69 102 61
Up