Millions of euro
at Dec. 31, 2019
at Dec. 31, 2018
Payables due to customers
Payables due to institutional market operators
Payables due to employees
Other tax payables
Payables due to social security institutions
Payables for put options granted to minority shareholders
Current accrued expenses and deferred income
Payables for dividends
Payables due to customers include €880 million (€936 million at December 31, 2018) in security deposits related to amounts received from customers in Italy as part of electricity and gas supply contracts. Following the finalization of the contract, deposits for electricity sales, the use of which is not restricted in any way, are classified as current liabilities given that the Company does not have an unconditional right to defer repayment beyond 12 months.
Payables due to institutional market operators include payables arising from the application of equalization mechanisms to electricity purchases on the Italian market amounting to €3,064 million (€2,546 million at December 31, 2018) and on the Spanish market amounting to €1,267 million (€1,131 million at December 31, 2018), and on the Latin American market amounting to €176 million (€268 million at December 31, 2018).
The change in payables for dividends mainly refers the recognition of the interim dividend of Enel SpA, which under the rules is settled in January of the following year. In 2019, the total interim dividend amounted to €1,627 million, compared with €1,423 million the previous year. The increase in other payables mainly reflects the settlement of a dispute between Enel Distribuição São Paulo and Eletrobras, which includes €73 million under current items but also includes a non-current portion (readers are invited to consult the appropriate note for more on that item). It also reflects the recognition of the liability connected with the acquisition through financial intermediaries (using share swaps) of additional equity stakes in Enel Américas and Enel Chile. The overall amount of that debt at December 31, 2019 was €358 million.