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TAG overview

Results

(26) Contract assets

Operating Assets Liabilities and Contingent Liabilities

(26) Contract assets

Accounting and measurement policies

Contract assets

Contract assets represent contractual claims to receive payment from customers for whom the contractual performance obligation has already been fulfilled although an unconditional claim to payment has yet to arise.

The following table shows the change in contract assets:

€ million

 

2020

 

2019

Jan. 1

 

156

 

52

Additions due to business combinations

 

 

53

Other additions

 

420

 

311

thereof: attributable to performance obligations satisfied in prior periods

 

15

 

7

Disposals due to divestments/Reclassification to assets held for sale

 

 

Reclassification to trade accounts receivable

 

-402

 

-270

Currency effects

 

-5

 

10

Other

 

 

-1

Dec. 31

 

169

 

156

Contract assets resulted in particular from rendering services and manufacturing of customer-specific equipment in the Life Science and Performance Materials business sectors.