Trade and other receivables

Trade and other receivables

Set out below is a breakdown of trade and other receivables as at 31 December 2007 and 2006:

 Breakdown of trade and other receivables

Bad debt provisions are recognised as described in Note 2.3.7.C. Movements in trade provisions are set out below:

 Movements in trade provisions

The item "Other receivables" includes amounts arising outside the ordinary course of business in each segment, and advance payments made to suppliers.  The reduction is due mainly to the collection, in February 2007, of 1,150 million euro relating to the sale of Ferrovial Inmobiliaria to Promociones Hábitat, which was recognised within "other receivables" as at December 2006.

The item "Receivable from public authorities" includes balances receivable from public authorities other than income tax.

Group management considers that the carrying amounts of trade receivables approximate their fair values.

Set out below is a breakdown of trade receivables for sales and services by business segment, distinguishing between public authorities and private customers:

 Breakdown of trade receivables for sales and services by business segment

It may be observed from the above table that 51% of the Group's customers are public authorities. The most significant balances receivable from private customers relate to the Construction Division. In order to manage credit risk relating to private customers, the Construction Division has implemented pre- and post-contracting measures. Pre-contracting measures include the consultation of debtor registers, ratings and solvency studies, while post-contracting measures during the execution of construction work include the follow-up of contractual incidents and payment default.