Bad Debts HY2016 (period ending 31-12-2015)
Quote:
Originally Posted by
Snoopy
In the table under note 6 of AR2015, the 'impaired asset expense' has increased to $12.105m (FY2015, ended 30th June 2014) up from from $5.895m in the corresponding prior period (FY2014). The HY2015 impaired asset expense was $5.102m. By simple subtraction the bad debt expense for the period 1st January 2015 to 30th June 2015 (2HY2015) was $12.105m -$5.102m = $7.003m.
Information of the 'stressed - but not written off- loans' may be found in 'Financial Receivables', Note 11 from AR2015
Bad debts are outlined as follows:
At least 90 days past due $34.975m
Individually impaired $25.622m
Restructured assets $3.881m
Allowance for impairment ($25.412)m
PV of Future Losses Adjustment ($6.242)m
Total Stressed Loans (impairments deducted) $32.824m
Gross Financial Receivables $2,893.724m
Total Finance Receivables $2,862.070m
Stressed Loan Percentage (impairment removed)= $32.824 m/ $2,862.070m = 1.15%
In the table under note 4 of IRHY2016, the 'impaired asset expense' has increased to $5.610m (HY2016, ended 31st Dec 2015) up from from $5.102m in the corresponding prior period (HY2015). By simple subtraction the bad debt expense for the immediate period 1st January 2015 to 30th June 2015 (2HY2015) was $12.105m -$5.102m = $7.003m.
Information of the 'stressed - but not written off- loans' may be found in 'Financial Receivables', Note 6 from IRHY2016.
Bad debts are outlined as follows:
At least 90 days past due $21.207m
Individually impaired $27.179m
Restructured assets $3.235m
Allowance for impairment ($16.875)m
PV of Future Losses Adjustment ($5.599)m
Total Stressed Loans (impairments deducted) $29.147m
Gross Financial Receivables $2,951.075m
Total Finance Receivables $2,928.621m
Stressed Loan Percentage (impairment removed)= $29.147 m/ $2,928,601m = 1.00%
SNOOPY