International Game Technology (FRA:IGT) Accounts Receivable : €227 Mil (As of Dec. 2014)

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What is International Game Technology Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. International Game Technology's accounts receivables for the quarter that ended in Dec. 2014 was €227 Mil.

Accounts receivable can be measured by Days Sales Outstanding. International Game Technology's Days Sales Outstanding for the quarter that ended in Dec. 2014 was 56.80.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. International Game Technology's Net-Net Working Capital per share for the quarter that ended in Dec. 2014 was €-7.07.

International Game Technology Accounts Receivable Historical Data

The historical data trend for International Game Technology's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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International Game Technology Accounts Receivable Chart

International Game Technology Annual Data

Trend

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

Sep12

Sep13

Sep14

Accounts Receivable

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221.50

232.71

268.96

260.75

255.54

International Game Technology Quarterly Data
	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14
Accounts Receivable	Get a 7-Day Free Trial															246.74	230.71	217.49	255.54	227.49

International Game Technology Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

International Game Technology Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

International Game Technology's Days Sales Outstanding for the quarter that ended in Dec. 2014 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	227.485	/	365.437	*	91
=	56.80

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), International Game Technology's accounts receivable are only considered to be worth 75% of book value:

International Game Technology's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2014 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(163.498	+	0.75 * 227.485	+	0.5 * 58.392	-	2121.009
-	0	-	0)	/	248.7
=	-7.07

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

International Game Technology Accounts Receivable Related Terms

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International Game Technology (FRA:IGT) Business Description

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International Game Technology was incorporated in Nevada in December 1980. It is a gaming Company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms land-based, online real-money and social gaming. The Company manages operations in two geographic segments namely North America and International. North America consists of operations in the US and Canada and International encompasses its efforts in all other jurisdictions. The Company has two revenue streams within each business segment gaming operations and product sales. It includes the sales of gaming equipment, systems, services, licensing, and component parts in Product Sales. It provides casino games, gaming equipment and systems technology for land-based and online social gaming and wagering markets under for-sale or revenue sharing arrangements. IGT systems products include infrastructure and applications for casino management, customer relationship management, player management, and server-based gaming. Casino management solutions include integrated modules for machine accounting, patron management, cage and table accounting, ticket-in/ticket-out, bonusing, and table game automation. The Company's competitors include Ainsworth Game Technology Ltd, Aristocrat Leisure Limited, Bally Technologies, Inc., Konami Gaming Inc., Novomatic Group of Companies, and WMS Industries, Inc. At September 30, 2013, the Company held approximately 6,000 patents or patent applications and approximately 4,100 trademarks filed and registered around the world. he manufacture and distribution of casino games, gaming equipment, systems technology, and related services, as well as the operation of casinos, is subject to regulation by a variety of federal, state, international, tribal, and local agencies, with the majority of oversight provided by individual state gaming control boards.