Page 113 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Consolidated Financial Statements of the Enav Group 111

incurred by ENAV for ensuring the safety of its systems and equipment
and operating safety, as provided by article 11-septies of Law no. 248/05.
The net decrease for the year of ¤17.8 million arises from the receipt of the
portion of the 2012 grant which took place in two separate instalments in
2014.In December the amount of ¤30 million recognized in 2013 was also
received.

Amounts due from other customers consist of the receivable due from
the management company for services rendered by the Group and the
balance due from non-Italian customers for contract work in progress. The
decrease over the year arises mainly as the result of the receipt of a series
of receivables during the first few months of 2014.

The bad debts allowance amounted to ¤45,052 thousandat 31 December
2014 and underwent the following changes during the year:

Decreases

31.12.2013 Increases Utilizations Eliminations 31.12.2014
4,167 (762) (1,901) 45,052
Bad debts allowance 43,548

The increase for the year of ¤4,167 million arises from the write-down of
doubtful receivables regarding balances due for route charges from carriers
which have become insolvent or which no longer do business following
the withdrawal of their license and terminal charges, together with certain
management companies in financial difficulty. Decreases totaling ¤2,663
million refer for ¤762 million to receivables prudently written down in
previous years and then collected in 2014 and for ¤1,901 million to the
elimination of balances that are no longer considered collectible.

Utilizations are recognized in profit or loss under the item impairment
losses and reversals of impairment losses.

The current portion of the balance receivable amounting to ¤6,564 million
refers to a portion of the route balance generated in 2013 and amounting to
¤8,180 million included in determining the parent company’s 2015 charge,
stated net of the short-term portion arising from the discounting process
amounting to ¤1,616 million.

The “Balance receivable” of ¤119,499 million, which fully relates to the
parent company and is classified as non-current assets, comprises the
route and terminal balances generated in previous years, starting from
2011, for an amount of ¤77,713 million plus the route and terminal balances
recognized in 2014 for ¤49,264 million lessan amount of ¤7,478 million
arising from the process of discounting the receivable to present value.
The route balance of ¤41,128 million recognized at 31 December 2014
(¤43,557 million at 31 December 2013) consists of i) the balance for
traffic risk of ¤28,681 million (¤24,811 millionat 31 December 2013); ii)
the non-recovered portion of the n-2 balance for ¤4,446 million (¤2,566