|
in TUSD
|
31 Dec 2023
|
31 Dec 2022
|
|---|---|---|
| Receivables from the sale of rights | ||
| Due from third parties | 114,746 | 127,789 |
| Provision for bad debts | -34,922 | -9,684 |
| Total receivables from the sale of rights | 79,824 | 118,105 |
| Other receivables | ||
| Due from member associations and confederations | 33,742 | 11,669 |
| Due from third parties | 107,659 | 228,160 |
| Provision for bad debts | -279 | -84 |
| Total other receivables | 141,122 | 239,745 |
| Total receivables, net | 220,946 | 357,850 |
The majority of the open receivables from the sale of rights relate to contractual payments from broadcasters and sponsors. FIFA receives payments from customers based on a billing schedule, as established in the contracts with customers. Account receivables are unconditional, as the instalments are non-cancellable and non-refundable once received.
Provisions for bad debts
|
in TUSD
|
2023
|
2022
|
|---|---|---|
| Balance as at 1 January | 9,768 | 7,337 |
| Use/release | -8,273 | -315 |
| Additions | 33,702 | 2,762 |
| Foreign exchange effect | 4 | -16 |
| Balance as at 31 December | 35,201 | 9,768 |
Additions to bad debt provisions are related to an impairment of overdue trade receivables from contracts with customers, also refer to Note 13 – Expected credit losses of receivables and contract assets.
Ageing analysis of receivables
|
in TUSD
|
31 Dec 2023
|
31 Dec 2022
|
|---|---|---|
| Not due | 198,573 | 333,821 |
| Overdue – less than 30 days | 6,036 | 7,196 |
| Overdue – less than 60 days | 11,190 | 14,391 |
| Overdue – more than 60 days | 40,348 | 12,210 |
| Total receivables | 256,147 | 367,618 |