13 Current receivables

Accounting policy

Current receivables, for which the contractual cash flows are solely principal and interest, are initially recognized at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortized cost, which generally corresponds to their nominal, non-discounted value, less an adjustment for expected credit loss.

Loss allowances for trade receivables are always measured at lifetime expected credit loss – see also Note 23 Financial Instruments and risks.

 

 

2023

 

2022

Trade receivables

 

 

 

 

Trade accounts receivable

 

2,161

 

1,306

Other trade receivables

 

343

 

182

Deferred items

 

62

 

31

Receivables from associates

 

2

 

1

 

 

2,568

 

1,520

 

 

 

 

 

Expected credit loss

 

(15)

 

(12)

Total Trade receivables

 

2,553

 

1,508

 

 

 

 

 

Income tax receivable

 

107

 

36

 

 

 

 

 

Other current receivables

 

 

 

 

Other taxes and social security contributions

 

16

 

23

Employee-related receivables

 

7

 

3

Acquisition-/disposal-related receivables

 

5

 

7

Interest

 

4

 

1

Loans

 

69

 

24

Other receivables

 

81

 

8

Deferred items

 

1

 

12

Total Other current receivables

 

183

 

78

 

 

 

 

 

Total current receivables

 

2,843

 

1,622

Information about the expected credit loss that relates to trade accounts receivable resulting in a loss allowance is included under Credit risk in Note 23 Financial instruments and risks.

Deferred items comprised €63 million (2022: €43 million) in prepaid expenses that include advance payments for any expenditure that would have otherwise been made during the next 12 months.

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