16. Accounts receivable

Million CHF

2015

20141

1

Restated due to changes in accounting policies, see note 2.

Trade accounts receivable – associates and joint ventures

93

84

Trade accounts receivable – third parties

3,315

2,096

Other receivables – associates and joint ventures

73

83

Other receivables – third parties

741

386

Total

4,222

2,648

Of which pledged/restricted

16

59

As a result of the merger with Lafarge, LafargeHolcim acquired multi-year securitization agreements with respect to trade receivables. Under these agreements, some of the French and North American subsidiaries sell trade accounts receivables, without maintaining control over the assets sold and without having an entitlement or obligation to repurchase the sold receivables. In these agreements, the purchaser of the receivables, in order to secure his risks, only finances a part of the acquired receivables as it is usually the case for similar commercial transactions. As risks and benefits cannot be considered as being all transferred, the trade accounts receivables sold remain on the statement of financial position and amounted to CHF 368 million as of December 31, 2015. The financing generated by these securitization programs, classified as current financial liabilities, amounts to CHF 288 million as of December 31, 2015. The French securitization agreement is guaranteed by subordinated deposits and units totaling CHF 80 million as of December 31, 2015.

Due to the local nature of the business, specific terms and conditions for accounts receivable trade exist for local Group companies and as such Group guidelines are not required.

Allowance for doubtful accounts

Million CHF

2015

20141

1

Restated due to changes in accounting policies, see note 2.

January 1

(182)

(163)

Disposal of Group companies

17

(3)

Allowance recognized

(79)

(24)

Amounts used

15

15

Unused amounts reversed

6

2

Currency translation effects

17

(9)

December 31

(206)

(182)