| |
4. Receivables
A summary of receivables at December 31 is as follows:
| |
2003 |
2002 |
|
| Trade accounts |
$344,371 |
$247,694 |
| Notes and contracts |
63,984 |
44,565 |
| Notes from sale of trade receivables (see Note 5) |
155,191 |
194,476 |
| Other |
96,152 |
99,104 |
|
| |
659,698 |
585,839 |
| Less allowances for doubtful accounts |
19,552 |
18,255 |
|
| Total receivables, net |
$640,146 |
$567,584 |
|
| |
A substantial portion of Land O’Lakes receivables is concentrated
in agriculture, as well as in the wholesale and retail food industries.
Collections of these receivables may be dependent upon economic
returns in these industries. The Company’s credit risks are
continually reviewed, and management believes that adequate provisions
have been made for doubtful accounts.
|
