25. Current/Non-current assets/(liabilities) deriving from contracts with customers

 

Millions of euro

Non-current

Current

 

at Dec. 31, 2019

at Dec. 31, 2018

at Dec. 31, 2019

at Dec. 31, 2018

Assets deriving from contracts with customers

487

346

166

135

Liabilities deriving from contracts with customers

6,301

6,306

1,328

1,095

Non-current assets deriving from contracts with customers refer mainly to assets under development resulting from public-to-private service concession arrangements recognized in accordance with IFRIC 12 and which have an expiration of beyond 12 months (€479 million). These cases arise when the contract holder has not yet obtained the full right to recognize the asset from the grantor at the hypothetical conclusion of the concession arrangement in that there remains a contractual obligation to ensure that the asset becomes operational. It should also be noted that the figure at December 31, 2019 includes investments for the period in the amount of €692 million.

Current assets deriving from contracts with customers mainly concern outstanding construction contracts (€140 million), payments on which are subject to the fulfillment of a performance obligation.

The figure at December 31, 2019 for non-current liabilities deriving from contracts with customers is mainly attributable to distribution in Italy (€3,520 million), Spain (€2,364 million), and Romania (€411 million).

Current liabilities deriving from contracts with customers include the contractual liabilities related to revenue from connections to the electricity grid expiring within 12 months in the amount of €793 million recognized in Italy and Spain, as well as liabilities for construction contracts (€504 million).