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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
8. TRADE AND OTHER RECEIVABLES
CONTINUED
December 2016
$m
December 2015
$m
Additional information on contract debtors
Amounts due from customers
- contract debtors
2,607.9
2,145.0
Amounts due to customers
- trade and other payables
(1,223.3)
(645.8)
Net contract debtors
1,384.6
1,499.2
Net contract debtors excluding retentions
1,131.8
1,268.0
Retentions
252.8
231.2
Net contract debtors
1,384.6
1,499.2
Cash received to date
71,055.8
71,502.6
Total progressive value of all contracts in progress at reporting date
72,440.4
73,001.8
12 months to
December 2016
$m
12 months to
December 2015
$m
Contract debtors provision
Balance at beginning of reporting period
(675.0)
(675.0)
Net provision (made) / used
-
-
Balance at reporting date
1
(675.0)
(675.0)
1
The Group maintains a contract debtors provision to cover the risk on a portfolio basis of unrecoverable contract debtors.
9. CURRENT TAX ASSETS
The current tax asset of $28.0 million (31 December 2015: $26.6 million) represents the amount of income taxes recoverable from the
payment of tax in excess of the amounts due to the relevant tax authority.
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