21 Trade receivables
(XLS:)  Download |
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€ million |
Dec. 31, 2015 |
Dec. 31, 2014 |
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|---|---|---|---|---|
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Trade receivables from |
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|
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third parties |
8,570 |
9,142 |
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affiliated companies |
265 |
230 |
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joint ventures |
2,253 |
2,037 |
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associates |
40 |
58 |
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other investees and investors |
5 |
4 |
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|
11,132 |
11,472 |
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The fair values of the trade receivables correspond to the carrying amounts.
The trade receivables include receivables from construction contracts accounted for using the percentage of completion (PoC) method. These are calculated as follows:
| (XLS:) Download |
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€ million |
Dec. 31, 2015 |
Dec. 31, 2014 |
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|---|---|---|---|---|
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Contract costs and proportionate contract profit/loss of construction contracts |
1,236 |
1,327 |
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Progress billings |
−41 |
−66 |
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Exchange rate effects |
−4 |
6 |
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PoC receivables, gross |
1,191 |
1,267 |
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Prepayments received |
−969 |
−1,065 |
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PoC receivables, net |
222 |
202 |
Other payments received on account of construction contracts in the amount of €344 million (previous year: €375 million), for which no construction costs have yet been incurred, are recognized under other liabilities.