45
11.Trade and other receivables
The detail of trade and other receivables in the consolidated balance sheets at 31 December
2013 and 2012 is as follows:
Thousands of euros
2013
2012
Trade receivables
184,608
169,908
Receivable from associates and related companies
38,195
46,437
Total trade receivables for sales and services
222,803
216,345
Other receivables
5,792
12,650
Total other receivables
5,792
12,650
The estimated amounts are recognised in the consolidated balance sheet, net of allowances for
estimated bad and doubtful debts, on the basis of prior years' experience and of the Group's
assessment of the current economic climate.
At 31 December 2013, the allowance for doubtful debts amounted to EUR 22,541 thousand
(2012: EUR 30,632 thousand). The provision recognised in 2013 amounted to EUR 797
thousand (2012: EUR 5,429 thousand), and EUR 8,889 thousand of the allowance were used
in the year (2012: EUR 5,626 thousand).
As provided for in the measurement bases disclosed in Note 3 to these consolidated financial
statements, impairment losses are recognised or reversed as a result of valuation adjustments
of trade and other receivables based on their due dates and the equity position of the debtors.
The related write downs and amounts charged to profit or loss are recognised under “Other
Operating Expenses” in the consolidated income statement.
12.Equity
a)
Share capital
On 29 October 2012, the Parent Atresmedia Corporación de Medios de Comunicación, S.A.
increased share capital by a nominal amount of EUR 10,965 thousand through the issue of
(i) 13,438,704 shares of EUR 0.75 par value each, of the same class and series as the
shares outstanding prior to the increase but without entitlement to dividends paid out of
the profits generated prior to the date of registration of the merger at the Mercantile
Registry, irrespective of the dividend payment date, and (ii) 1,181,296 shares of EUR 0.75
par value each, of a different class and carrying the same restriction on dividend rights as
the aforementioned shares, although in this case the restriction shall continue to apply for
24 months following the date on which the merger was registered at the Mercantile
Registry.
The aforementioned capital increase, the sole purpose of which was to cater for part of the
share exchange on the merger, was approved by the shareholders at the Company's
Annual General Meeting held on 25 April 2012 on the terms and conditions included in the
draft terms of merger and was conditional upon the obtainment of the related
administrative authorisations.
The new shares were issued at EUR 3.37 each, equal to the closing market price of the
Atresmedia share on 5 October 2012, the date on which the capital increase resolution
became effective. The difference between the issue price and the par value (i.e. EUR 2.62
per share) was treated as a share premium. The total capital increase amounted to EUR
