10.3 Trade receivables and other assets
| Note | Dec 31 2021 | Dec 31 2020 | |
|---|---|---|---|
| Non-current financial assets: | 168.8 | 169.6 | |
| Security deposits receivable | 33.9 | 24.7 | |
| Finance lease receivables | 10.3.2 | 7.1 | 7.6 |
| Oil and Gas Extraction Facility Decommissioning Fund (1) | 47.3 | 43.8 | |
| Cash pledged as security for contractual obligations related to future asset decommissioning | 70.4 | 67.8 | |
| Settlements with ICE exchange – margin | – | 15.4 | |
| Security deposits related to licensed activities and other | 10.1 | 10.3 | |
| Current financial assets: | 2,690.8 | 1,732.9 | |
| Trade receivables | 2,648.5 | 1,693.9 | |
| – including from related entities | 10.2 | 30.4 | 6.7 |
| Security deposits receivable | 13.5 | 13.2 | |
| Investment receivables | 0.2 | 6.1 | |
| Security deposits related to the use of gas fuel distribution and transmission system and other | 0.4 | 1.9 | |
| Damages receivable | 1.9 | 1.5 | |
| Receivables under payment cards (service stations) | 8.8 | 5.8 | |
| Finance lease receivables | 10.3.2 | 4.1 | 5.1 |
| Other receivables | 13.4 | 5.4 | |
| Financial assets | 2,859.6 | 1,902.5 | |
| Non-current non-financial assets | 2.0 | 8.5 | |
| Property and other insurance | 0.1 | 3.9 | |
| Borrowing costs | 0.3 | 3.5 | |
| Other | 1.6 | 1.1 | |
| Current non-financial assets: | 456.0 | 275.3 | |
| Value-added tax receivable | 138.6 | 86.5 | |
| Other receivables from the state budget other than corporate income tax | 1.5 | 3.6 | |
| Property and other insurance | 26.4 | 73.3 | |
| Settlements under joint operations (Norwegian fields) (2) | 220.6 | 51.9 | |
| Excise duty on inter-warehouse transfers | 37.3 | 34.3 | |
| Prepaid deliveries | 12.2 | 13.9 | |
| Prepaid bonuses | 0.1 | 0.1 | |
| Prepayments for IT services | 9.1 | 6.9 | |
| Other | 10.2 | 4.8 | |
| Non-financial assets | 458.0 | 283.8 | |
| Total | 3,317.6 | 2,186.3 | |
| including: | |||
| long-term portion | 170.8 | 178.1 | |
| current: | 3,146.8 | 2,008.2 | |
| -trade receivables | 2,648.5 | 1,693.9 | |
| – other | 498.3 | 314.3 |
(2) Receivables of LOTOS Exploration and Production Norge AS (LOTOS Upstream Group, the Exploration & Production segment) under mutual settlements between the operator and consortium members concerning specific Norwegian fields.
As at December 31st 2021, the Group’s receivables were not assigned (pledged) as security. As at December 31st 2020, receivables for a total amount of PLN 16.1m were assigned (pledged) as security.
As at December 31st 2021, cash of PLN 15.1m deposited in the bank account of the Extraction Facility Decommissioning Fund was pledged as security for repayment of the Group’s liabilities (December 31st 2020: PLN 11.9m).
The collection period for trade receivables in the ordinary course of business is 7−35 days.
For description of financial instruments, see Note 11.1..
For description of the objectives and policies of financial risk management, see Note 11.2.
For currency risk sensitivity analysis of financial assets, see Note 11.2.3.1.
For interest rate risk sensitivity analysis of financial assets, see Note 11.2.4.1. For maximum credit risk exposure of financial assets, see Note 11.2.6.