05 » Accounts Receivable
Accounts receivable consist mainly of the currencies euro, US dollar, and Chinese renminbi and are as follows:
|
|
Collective loss allowance |
|
Individual loss allowance |
|
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Not yet due |
|
Past due 1 – 90 days |
|
Past due > 90 days |
|
|
|
|
||
|
|
Not credit-impaired |
|
Not credit-impaired |
|
Not credit-impaired |
|
Credit-impaired |
|
Credit-impaired |
|
|
Dec. 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, gross |
|
2,390 |
|
233 |
|
36 |
|
25 |
|
96 |
|
2,780 |
Weighted average loss rate |
|
0.9% |
|
4.6% |
|
26.6% |
|
32.3% |
|
99.9% |
|
5.2% |
Loss allowance |
|
(21) |
|
(11) |
|
(10) |
|
(8) |
|
(96) |
|
(145) |
Accounts receivable, net |
|
2,369 |
|
222 |
|
27 |
|
17 |
|
0 |
|
2,634 |
Dec. 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, gross |
|
2,139 |
|
235 |
|
50 |
|
44 |
|
125 |
|
2,593 |
Weighted average loss rate |
|
1.2% |
|
5.6% |
|
21.9% |
|
23.0% |
|
95.6% |
|
6.9% |
Loss allowance |
|
(26) |
|
(13) |
|
(11) |
|
(10) |
|
(120) |
|
(180) |
Accounts receivable, net |
|
2,113 |
|
222 |
|
39 |
|
34 |
|
6 |
|
2,413 |
|
|
2025 |
|
2024 |
|---|---|---|---|---|
Loss allowances at January 1 |
|
180 |
|
229 |
Net remeasurement of loss allowances |
|
(1) |
|
(30) |
Write-offs charged against the loss allowance accounts |
|
(30) |
|
(22) |
Currency translation differences |
|
(8) |
|
0 |
Other changes |
|
3 |
|
2 |
Loss allowances at December 31 |
|
145 |
|
180 |
As at December 31, 2025, the loss allowance for not-credit-impaired accounts receivable in the amount of € 464 million and credit-impaired accounts receivable in the amount of € 5 million was not recognized, as adidas holds credit enhancement instruments, mainly in the form of credit insurance and bank guarantees, which mitigate the credit risk of those financial assets.
There are no material balances of accounts receivable written off but subject to enforcement activity.
Accounts receivable are derecognized when substantially all the risks and rewards incidental to the financial asset are transferred to a third party under factoring arrangements. As of December 31, 2025, there were no factoring agreements and therefore no receivables were derecognized in this context (2024: € 21 million).
Further information about credit risks is contained in these Notes. SEE NOTE 28