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This excerpt taken from the ELN 6-K filed Mar 30, 2009. c Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. The maximum
exposure to credit risk is represented by the carrying amount of
each financial asset in the balance sheet, as shown in the table
in Note 25a to the Consolidated Financial Statements.
For customers, we have a credit policy in place that involves
credit evaluation and ongoing account monitoring.
Our principal sovereign risk relates to investments in
U.S. Treasuries funds; however, we consider this risk to be
remote.
At the balance sheet date, we have a significant concentration
of credit risk given that our main customers, Amerisource Bergen
Corp., Fournier Pharma Corp. and Biogen Idec, account for 64% of
our accounts receivable balance at 31 December 2008.
However, we do not believe our credit risk in relation to these
three customers is significant, as they each have an investment
grade credit rating. No other customer accounted for more than
10% of our accounts receivable balance at either
31 December 2008 or 2007.
Table of Contents
The maximum exposure to credit risk for accounts receivable at
31 December by geographic region was as follows:
At 31 December 2008, $25.9 million (2007:
$23.8 million) of our total accounts receivable balance was
past due but not impaired. The majority of this balance at
31 December 2008 was received in January 2009. At
31 December 2008, we had provisions for doubtful debts of
$0.9 million (2007: $Nil).
This excerpt taken from the ELN 20-F filed Feb 26, 2009. Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risks. Credit limits
are established commensurate with the credit rating of the
financial institution that business is being transacted with.
The maximum exposure to credit risk is represented by the
carrying amount of each financial asset, including derivative
financial instruments, in the balance sheet.
For customers, we have a credit policy in place that involves
credit evaluation and ongoing account monitoring.
Our principal sovereign risk relates to investments in
U.S. Treasuries funds; however, we consider this risk to be
remote.
At the balance sheet date, we have a significant concentration
of credit risk given that our main customers or collaborator,
AmerisourceBergen, Fournier Pharma Corp. and Biogen Idec account
for 64% of our gross accounts receivable balance at
December 31, 2008. However, we do not believe our credit
risk in relation with these three customers is significant, as
they each have an investment grade credit rating.
Table of Contents
This excerpt taken from the ELN 6-K filed Mar 31, 2008. c Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. We only
enter into contracts with parties that have at least an
investment grade credit rating. The counterparties to these
contracts are major financial institutions. The maximum exposure
to credit risk is represented by the carrying amount of each
financial asset in the balance sheet, as shown in the table in
Note 26a to the Consolidated Financial Statements. We
believe that the risk of any net loss from counterparty credit
risk is considered to be low.
For customers, we have a credit policy in place which involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our main customers, Amerisource Bergen
and Fournier Pharma Corp. account for 53% of our accounts
receivable balance at 31 December 2007. However, we do not
believe our credit risk in relation to these two customers is
significant, as they each have an investment grade credit
rating. No other customer accounted for more than 10% of our
accounts receivable balance at either 31 December 2007 or
2006.
The maximum exposure to credit risk for accounts receivable at
31 December by geographic region was as follows:
At 31 December 2007, $23.8 million (2006:
$14.5 million) of our total accounts receivable balance was
past due but not impaired. The majority of the balance at
31 December 2007 was received in January 2008. At
31 December 2007, we had provisions for doubtful debts of
$Nil (2006: $0.7 million).
This excerpt taken from the ELN 20-F filed Feb 28, 2008. Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risks. Credit limits
are established commensurate with the credit rating of the
financial institution that business is being transacted with. We
only enter into contracts with parties that have at least
investment grade credit rating. The counterparties to these
contracts are major financial institutions. The maximum exposure
to credit risk is represented by the carrying amount of each
financial asset, including derivative financial instruments, in
the balance sheet. We believe that the risk of any net loss from
counterparty risk is remote.
For customers, we have a credit policy in place that involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our main customers, AmerisourceBergen
and Fournier Pharma Corp. account for 53% of our gross accounts
receivable balance at December 31, 2007. However, we do not
believe our credit risk in relation with these two customers is
significant, as they each have an investment grade credit rating.
This excerpt taken from the ELN 6-K filed Mar 30, 2007. b Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. We only
enter into contracts with parties that have at least an
investment grade credit rating. The counterparties to these
contracts are major financial institutions. The maximum exposure
to credit risk is represented by the carrying amount of each
financial asset, including derivative financial instruments, in
the balance sheet. We believe that the risk of any net loss from
counterparty risk is remote.
For customers, we have a credit policy in place which involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our three main customers, McKesson,
Amerisource Bergen, and Cardinal Health, account for 46% of our
gross accounts receivable balance at 31 December 2006.
However, we do not believe our credit risk in relation to these
three customers is significant, as they each have an investment
grade credit rating.
120 Elan
Corporation, plc 2006 Annual Report
Table of Contents
Notes to the
Consolidated Financial Statements
This excerpt taken from the ELN 20-F filed Feb 28, 2007. Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. We only
enter into contracts with parties that have at least investment
grade credit rating. The counterparties to these contracts are
major financial institutions. The maximum exposure to credit
risk is represented by the carrying amount of each financial
asset, including derivative financial instruments, in the
balance sheet. We believe that the risk of any net loss from
counterparty risk is remote.
For customers, we have a credit policy in place which involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our three main customers, McKesson,
AmerisourceBergen, and Cardinal Health, account for 46% of our
gross accounts receivable balance at December 31, 2006.
However, we do not believe our credit risk in relation with
these three customers is significant, as they each have an
investment grade credit rating.
This excerpt taken from the ELN 6-K filed Mar 31, 2006. Credit Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. We only
enter into contracts with parties that have at least an
“A” or equivalent credit rating. The counterparties to
these contracts are major financial institutions. The maximum
exposure to credit risk is represented by the carrying amount of
each financial asset, including derivative financial
instruments, in the balance sheet. We believe that the risk of
any net loss from counterparty risk is remote.
For customers, we have a credit policy in place which involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our three main customers, McKesson,
Amerisource Bergen, and Cardinal Health, account for 44% of our
gross accounts receivable balance at 31 December 2005.
However, we do not believe our credit risk in relation to these
three customers is significant.
This excerpt taken from the ELN 20-F filed Mar 30, 2006. Credit
Risk
Our treasury function transacts business with counterparties
that are considered to be low investment risk. Credit limits are
established commensurate with the credit rating of the financial
institution that business is being transacted with. We only
enter into contracts with parties that have at least an
“A” or equivalent credit rating. The counterparties to
these contracts are major financial institutions. The maximum
exposure to credit risk is represented by the carrying amount of
each financial asset, including derivative financial
instruments, in the balance sheet. We believe that the risk of
any net loss from counterparty risk is remote.
For customers, we have a credit policy in place which involves
credit evaluation and ongoing account monitoring.
We do not currently transact significant business in countries
that are subject to major political and economic uncertainty. As
a result, we are not materially exposed to any sovereign risk or
payment difficulties.
At the balance sheet date, we have a significant concentration
of credit risk given that our three main customers, McKesson,
Amerisource Bergen, and Cardinal Health, account for 44% of our
gross accounts receivable balance at December 31, 2005.
However, we do not believe our credit risk in relation with
these three customers is significant, as they each have an
“A” credit rating.
Table of Contents
This excerpt taken from the ELN 6-K filed Apr 11, 2005. Credit Risk Our treasury function transacts business with counterparties that are considered to be low investment risk. Credit limits are established commensurate with the credit rating of the financial institution that business is being transacted with. We do not believe that we have a significant exposure to any one financial counterparty. We do not currently transact significant business in countries that are subject to major political and economic uncertainty. As a result, we are not materially exposed to any sovereign risk or payment difficulties. | EXCERPTS ON THIS PAGE:
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