[26] Trade receivables
The trade receivables break down as follows: > TABLE 074
Trade receivables |
|
074 |
in € million |
2017 |
2016 |
Receivables from third parties |
958.5 |
863.6 |
thereof receivables from third parties before valuation allowances |
1,009.6 |
904.0 |
thereof valuation allowances for overdue receivables >90 days ≤180 days |
–10.0 |
–4.8 |
thereof valuation allowances for overdue receivables >180 days |
–25.8 |
–24.7 |
thereof other valuation allowances for receivables |
–15.3 |
–11.0 |
Trade receivables from non-consolidated subsidiaries |
13.2 |
13.2 |
Trade receivables from equity-accounted investments and other investments |
27.7 |
19.1 |
Construction contracts with a net credit balance due from customers |
94.7 |
103.1 |
Total trade receivables |
1,094.1 |
998.9 |
Valuation allowances of €51.1 million (31 December 2016: €40.4 million) were recognised for trade receivables.
The breakdown of construction contracts that had not been completed by the reporting date is presented in > TABLE 075.
Construction contracts |
|
075 |
in € million |
2017 |
2016 |
Contract costs incurred and |
|
|
recognised profits (less recognised losses) |
2,300.1 |
2,247.8 |
less progress billings |
–2,469.4 |
–2,445.4 |
Total |
–169.3 |
–197.6 |
thereof gross amount due from customers for contract work |
94.7 |
103.1 |
thereof gross amount due to customers for contract work |
–264.0 |
–300.7 |
Construction contracts with a net credit balance due from customers are included in trade receivables. Construction contracts with a net debit balance due to customers are reported under other current liabilities (see note [35]). Advances received in respect of construction contracts for which no work had yet been carried out amounted to €19.2 million as at 31 December 2017 (31 December 2016: €28.3 million). Customer retentions relating to construction contracts came to €0.3 million (31 December 2016: €0.6 million).