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Finance receivables
 12 Months Ended
Dec. 31, 2012
Account/Finance receivables [Abstract]  
Finance receivables

6. Finance receivables

Finance receivables consist of the net investment in sales-type leases. The following table lists the components of the finance receivables as of December 31, 2012 and 2011:

 

                 

 

As of December 31

(in thousands)

  

2012

EUR

    

2011

EUR

  

 

  
     

Finance receivables, gross

     309,616       78,853  

Unearned interest

     (5,828)       -  

 

  
     

Finance receivables, net

                         303,788                           78,853  

Current portion of finance receivables, gross

     268,617       78,853  

Current portion of unearned interest

     (3,450)       -  

 

  
     

Non-current portion of finance receivables, net

 

     38,621       -  

The increase in finance receivables as of December 31, 2012 compared to December 31, 2011 is caused by an increased number of sales-type leases. At December 31, 2012, the finance receivables due for payment in each of the next five years and thereafter are as follows:

 

         

 

(in thousands)

   EUR  

2013

     268,617  

2014

     7,501  

2015

     7,516  

2016

     13,681  

2017

     12,301  

Thereafter

     -  

 

  
   

Finance receivables, gross

 

                     309,616  

ASML performs ongoing credit evaluations on its customers’ financial condition. ASML periodically reviews whether an allowance for credit losses is needed by considering factors such as historical payment experience, credit quality, aging finance receivable balances, and current economic conditions that may affect a customer’s ability to pay. In 2012 and 2011, we did not record any expected credit losses from finance receivables. As of December 31, 2012 the finance receivables were neither past due nor impaired.