2007 Financial statements

Note 17 - Trade and other receivables

	Non current 2007 US$m	Current 2007 US$m	Non current 2006 US$m	Current 2006 US$m
Trade receivables	-	4,927	56	2,133
Provision for doubtful debts	-	(70)	(20)	(6)
Amounts due from equity accounted units	-	249	-	156
Other debtors	266	900	35	479
Pension surpluses (note 49)	705	31	329	31
Prepayment of tolling charges to jointly controlled entities (a)	555	-	492	-
Other prepayments and accrued income	336	442	91	145
	1,862	6,479	983	2,938


Notes	Expand
Rio Tinto Aluminium has made certain prepayments to jointly controlled entities for toll processing of bauxite and alumina. These prepayments will be charged to Group operating costs as processing takes place. There is no material element of trade and other receivables that is interest bearing. Due to their short term maturities, the fair value of trade and other receivables approximates to their carrying value.

As of 31 December 2007, trade receivables of US$70 million (2006: US$56 million) were impaired. The amount of impairment was US$70 million (2006: US$26 million). The ageing of these receivables is greater than 90 days overdue.

As of 31 December 2007, trade receivables of US$364 million (2006: US$46 million) were past due but not impaired. The ageing of these receivables is as follows:

	2007 US$m	2006 US$m
less than 30 days overdue	270	31
between 30 and 60 days overdue	62	9
between 60 and 90 days overdue	29	2
greater than 90 days	3	4

These relate to a number of customers for whom there is no recent history of default and other indicators of impairment.

With respect to trade receivables that are neither impaired nor past due, there are no indications as of the reporting date that the debtors will not meet their payment obligations.

The carrying amounts of the Group's trade receivables (net of provisions for doubtful debts) are denominated in the following currencies:

	2007 US$m	2006 US$m
United States dollar	3,329	1,713
Sterling	134	2
Australian dollar	90	101
Canadian dollar	13	43
South African rand	25	31
Euro	904	55
Japanese yen	97	118
New Zealand dollar	17	27
Other	248	73
Total	4,857	2,163

The provision for doubtful trade receivables increased by US$44 million in 2007, of which US$40 million was due to the acquisition of Alcan Inc. and US$4 million from increases in provisions charged within other external costs.