AAK Annual Report 2017

61 Disclosure of financial liabilities by maturity date, December 31, 2016 Total amount Less than 1 year Between 1 and 2 years Between 2 and 5 years More than 5 years Non-current liabilities Financial liabilities Liabilities to banks and credit institutions 2,857 478 - 1,888 491 Other non-current liabilities 250 - - - 250 Total non-current liabilities 3,107 478 - 1,888 741 Interest on liabilities to banks and credit institutions 483 16 - 416 51 Total non-current liabilities and interest 3,590 494 - 2,304 792 Current liabilities Financial liabilities Liabilities to banks and credit institutions 217 217 - - - Accounts payables 3,258 3,258 - - - Derivative financial instruments 724 724 - - - Accrued expenses 899 899 - - - Other current liabilities 200 200 - - - Total current liabilities 5,298 5,298 - - - Interest on liabilities to banks and credit institutions 1 1 - - - Total current liabilities and interest 5,299 5,299 - - - Unused credit facilities available to the Group at the 2016 year-end Total amount Less than 1 year Between 1 and 2 years Between 2 and 5 years More than 5 years Unused credit facilities 3,665 277 - 3,388 - The Group’s cash and cash equivalents of SEK 480 million, available credit facilities of SEK 4,209 million and future cash generated by the business are together deemed sufficient for the Group to meet its financial commitments. Credit risk The Company is exposed to credit risk primarily in relation to accounts receivables and customer contracts. Risk in the latter case is represented by customers’ failure to meet their commitments due to changes in market prices. Generally, AAK’s credit risks are significantly limited due to the stable, long-term business relationships we have with our customers and suppliers. The customer structure for the Group is such that its single-largest customer is responsible for less than 5 percent of its total sales, and the average customer corresponds to less than 1 percent. Nearly a quarter of the Group’s sales occur in countries where the political and commercial risks are deemed to be higher WKDQ LQ :HVWHUQ HFRQRPLHV +RZHYHU ZH H[SHULHQFH RQO\ D OLPLWHG QHHG IRU LPSDLUPHQWV HYHQ LQ WKHVH FRXQWULHV 7KLV LV ODUJHO\ due to the fact that a significant portion of our business in these countries is with large multinational companies that also do business worldwide. The partners with whom we do business are also primarily companies with which we have stable, long-term relationships. Each business segment is responsible for managing its customer credit risks, while our large production facilities are responsible for managing their counterparty risk in relation to raw material procurement. Provisions for doubtful accounts receivables 2017 2016 Provisions at January 1 32 25 Provisions for potential losses 14 9 Reversed amount that is not recoverable. -2 - Unused amount reversed -1 -2 Exchange differences -2 0 Provisions at December 31 41 32 Provisions for impairments are entirely related to accounts receivables. Total accounts receivables excluding provisions were SEK 3.251 million (3.059). Past due assets not considered impaired SEK million 2017 2016 1–30 days 437 398 31–120 days 97 68 121–360 days 12 17 Over 360 days 2 0 548 483