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Trade Payables and Other
 6 Months Ended
Jun. 30, 2019
Text block [abstract]  
Trade Payables and Other

NOTE 17 - TRADE PAYABLES AND OTHER

 

     At June 30, 2019      At December 31, 2018  

(in millions of Euros)

    Non-current      Current      Non-current      Current  

Trade payables

      —          838        —          685  

Fixed asset payables

      —          29        —          30  

Employees’ entitlements

      —          162        —          160  

Taxes payable other than income tax

      —          25        —          16  

Contract liabilities

      11        59        9        68  

Other payables

      17        7        18        9  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Other

      28        282        27        283  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Trade payables and Other

      28        1,120        27        968  
  

 

 

     

 

 

     

 

 

     

 

 

  

Contract liabilities

 

     At June 30, 2019      At December 31, 2018  

(in millions of Euros)

    Non-current      Current      Non-current      Current  

Deferred tooling revenue

      5        —          —          —    

Advance payment from customers

      4        6        7        9  

Unrecognized variable consideration (A)

      2        52        2        57  

Prepayment

      —          1        —          2  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Contract liabilities

      11        59        9        68  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(A)

Unrecognized variable consideration consists of expected volume rebates, discounts, incentives, refunds penalties and price concessions.

For the six months ended June 30, 2019, €25 million was recognized in Revenue that related to contract liabilities as of December 31, 2018. Revenue of €30 million generated in the six months ended June 30, 2019 was deferred.