Receivables, excluding trade receivables, are recognised initially at a fair value and subsequently, at amortised cost using the effective interest rate including expected credit loss. On initial recognition, the Group measures trade receivables that do not have a significant financing component at their transaction price.

The Group applies simplified methods of valuation of receivables measured at amortized cost if it does not distort information included in the statement of financial position, in particular when the period until the repayment date is not long.

Receivables accounted at amortised cost, where the Group applies simplifications, are accounted at the initial recognition in the amount due, and later, including at the end of the reporting period, in the amount of the payment due less impairment allowances.


Impairment of trade and other receivables
As default the Group considers the event when the customer does not meet obligations after 90 days from maturity of receivables.

For the purpose of estimating the expected credit loss, the Group uses the provision matrix, which was estimated based on historical levels of repayment and recoveries from receivables from customers.

The Group includes information on the future in parameters used in the expected loss estimation model, through the management adjustment of the basic default probability rates.

The Group does not monitor changes in the credit risk during life of instrument. The Group estimates the expected credit loss until maturity of instrument. The expected credit loss is calculated when the receivables are recognised in the statement of financial position and is updated on each subsequent day ending the reporting period.





Trade receivables from contracts with customers 








Financial assets 




Excise tax and fuel charge 




Other taxation, duties, social security and other benefits 




Advances for non-current non-financial assets 








Advances for deliveries 












Non-financial assets 




Receivables, net 




Expected credit loss 



Receivables, gross 




Division of financial assets denominated in foreign currencies is presented in note 16.5.2. Division of receivables from related parties is presented in note 17.6.2.

The Group expects that the trade and other receivables by contractors will be realized no later than twelve months after the end of the reporting period.

ORLEN Group Integrated Report

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