18. Non-current and current other receivables
|
|
CARRYING AMOUNT |
|
CARRYING AMOUNT |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Current |
|
Non-current |
|
Dec. 31, 2024 |
|
Current |
|
Non-current |
|
Dec. 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other recoverable income taxes |
|
6,139 |
|
1,375 |
|
7,514 |
|
5,431 |
|
1,240 |
|
6,671 |
Miscellaneous receivables |
|
4,078 |
|
1,493 |
|
5,570 |
|
3,367 |
|
1,462 |
|
4,829 |
|
|
10,217 |
|
2,868 |
|
13,085 |
|
8,798 |
|
2,702 |
|
11,499 |
Miscellaneous receivables include assets to fund post-employment benefits in the amount of €198 million (previous year: €127 million). This item also includes assets from reinsurance contracts held in an amount of €29 million (previous year: €35 million).
Current other receivables are predominantly non-interest-bearing.
Other receivables include contingent receivables from long-term construction contracts recognized in accordance with project progress. They correspond to the contract assets recognized under contracts with customers and changed as follows:
€ million |
|
2024 |
|
2023 |
|---|---|---|---|---|
|
|
|
|
|
Contingent construction contract receivables at Jan. 1 |
|
347 |
|
212 |
Additions and disposals |
|
291 |
|
136 |
Change in valuation allowances |
|
−3 |
|
−1 |
Foreign exchange differences |
|
0 |
|
0 |
Contingent construction contract receivables at Dec. 31 |
|
635 |
|
347 |
The Volkswagen Group capitalizes costs to obtain a contract and amortizes them on a straight-line basis over the life of the contract only if they are material, the underlying contract has a term of at least one year, and these costs would not have been incurred, if the corresponding contract had not been entered into. As of December 31, 2024, costs of €14 million to obtain contracts were recognized as assets (previous year: €– million). In fiscal year 2024, amortization charges of €4 million on capitalized costs to obtain contracts were incurred (previous year: €– million).