18. Accounts Receivable, Net
Accounts receivable included costs and estimated earnings in excess of billings on uncompleted contracts of €105,525 thousand and €182,686 thousand as of December 31, 2003 and 2002, respectively.
Amounts presented in Consolidated Balance Sheets are net of allowance for bad debts of €71,011 thousand and €92,511 thousand as of December 31, 2003 and 2002 respectively. Net Accounts receivable based on due dates as of December 31 are as follows:
 |
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2003 |
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2002 |
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€(000) |
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€(000) |
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|
|
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|
|
|
|
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Due within 1 year |
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1,761,195 |
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1,952,758 |
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|
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|
|
|
|
|
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Due between 1 and 5 years |
|
9,520 |
|
14,349 |
|
|
|
 |
|
|
|
|
|
|
|
1,770,715 |
|
1,967,107 |
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|
|
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Concentrations of credit risks are limited due to the Company’s large customer base and its dispersion across many different industries and countries worldwide. No single customer accounted for 5% or more of total Revenues or net Accounts receivable in 2003, 2002, or 2001. |
