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2 Trade receivables

At EUR 16.4 billion, trade receivables increased by EUR 0.3 billion against the 2023 year-end level, mainly as a result of exchange rate effects, primarily from the translation of U.S. dollars to euros. Excluding exchange rate effects, receivables in the United States operating segment declined. This is due to a lower number of new contracts with equipment installment plans, as well as lower receivables due to the termination of government assistance programs and from wholesale partners.

Of the total of trade receivables, EUR 13.9 billion (December 31, 2023: EUR 13.9 billion) is due within one year. As of the reporting date, trade receivables with a carrying amount of EUR 1,777 million (December 31, 2023: EUR 889 million) in connection with asset-backed securities issued by T‑Mobile US and with a carrying amount of EUR 446 million (December 31, 2023: EUR 0 million) in connection with factoring agreements concluded by T‑Mobile US, were pledged as collateral.

For information on allowances, credit ratings, and write-offs of receivables as well as on factoring agreements, please refer to Note 43 “Financial instruments and risk management.”

Wholesale
Refers to the business of selling services to telecommunications companies which sell them to their own retail customers either directly or after further processing.
Glossary