Page 199 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Financial Statements of ENAV SpA 197

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 ENAV and the balance
due from non-Italian customers for contract work in progress being carried
out by the Company.

The bad debts allowance amounted to ¤44,787 thousand at 31 December
2014 and underwent the following changes during the year:

Bad debts allowance 31.12.2013 Increases Decreases Eliminations 31.12.2014
43,308 4,133 Utilizations (1,892) 44,787

(762)

The increase for the year of ¤4,133 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 ¤2,654
million refer for ¤762 million to receivables prudently written down in
previous years and then collected in 2014 and for ¤1,892 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 2015 charge, stated net of
the short-term portion arising from the discounting process amounting to
¤1,616 million.

The “Balance receivables” of ¤119,499 million, 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 less
an 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 million
at 31 December 2013); ii) the non-recovered portion of the n-2 balance for
¤4,446 million (¤2,566 million at 31 December 2013); and iii) the bonus
awarded following the achievement of the performance target connected