Hexagon Annual Report 2019

NOTE 13 INVENTORIES (NOK 1 000) 2019 2018 Raw materials and consumables 546 555 146 765 Work in progress 55 688 54 565 Finished goods 181 426 93 877 Total inventories 783 669 295 207 Recognized cost of obsolete inventory 23 209 7 143 Provision for obsolete inventory in balance sheet -28 738 -35 740 Carrying amount of holdings used as pledged assets 0 0 (NOK 1 000) 2019 2018 Trade receivables 453 136 154 227 Provisions for loss -14 574 -5 524 Trade receivables after provision for losses 438 562 148 703 Carrying amount of trade receivables used as pledged assets 0 0 NOTE 14 TRADE RECEIVABLES Losses on trade receivables are classified as other operating expenses in the income statement. Provision for losses are made on the basis of the individual assessments of each claim. In the assessment, consideration is made to guaranteed and insured amounts (see note 24 concerning credit risk). (NOK 1 000) 2019 2018 Opening balance 1 January 5 524 6 443 Additions from purchase of companies 8 609 0 Provision for losses for the year 1 885 1 439 Actual losses during the year -1 357 -2 607 Translation differences - 87 249 Closing balance 31 December 14 574 5 524 CHANGES IN THE PROVISION FOR LOSSES ARE AS FOLLOWS Credit risk and currency risk regarding trade receivables are described in more detail in note 24. TOTAL NOT DUE <30 DAYS 30-60 DAYS 60-90 DAYS >90DAYS 2019 438 562 282 146 87 316 25 548 16 668 26 883 2018 154 227 84 369 33 809 7 904 5 198 22 949 AS OF 31 DECEMBER THE COMPANY HAD THE FOLLOWING AGEING OF TRADE RECEIVABLES 38 124 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS