16. Receivables
As at 31-12-2022 | As at 31-12-2021 | |
Trade receivables | 211.8 | 164.4 |
Impairment provision | -1.3 | -1.2 |
Total trade receivables | 210.5 | 163.2 |
Other receivables | 30.2 | 39.4 |
Derivatives | 3.7 | 10.1 |
Prepayments and accrued income | 12.0 | 8.7 |
Total other receivables | 45.9 | 58.2 |
Total receivables | 256.4 | 221.4 |
Trade receivables are not interest-bearing and generally have an average term of credit of 30-90 days. The group applies the IFRS 9 simplified approach to measuring expected credit losses, which uses a lifetime expected loss allowance for all trade receivables.
Breakdown of expired credit terms trade receivables (net of impairment provision)
Total | < 30 days | 30-60 days | 60-90 days | > 90 days | |
Sustainable Food Solutions | 22.9 | 15.7 | 3.2 | 1.6 | 2.4 |
Lactic Acid & Specialties | 9.3 | 6.4 | 1.3 | 0.6 | 1.0 |
Algae Ingredients | 1.7 | 1.2 | 0.2 | 0.1 | 0.2 |
Incubator | |||||
Total | 33.9 | 23.3 | 4.7 | 2.3 | 3.6 |
Movements in trade receivables impairment provision
2022 | 2021 | |
As at 1 January | -1.2 | -1.4 |
Additions/releases | -0.9 | -0.5 |
Use | 0.8 | 0.8 |
Exchange rate differences | -0.1 | |
As at 31 December | -1.3 | -1.2 |
The additions to / releases from the trade receivables impairment provision are recognized as selling expenses.