23 Trade and other payables
|
(€ million) |
December 31, 2012 |
December 31, 2013 |
|
Trade payables |
14,993 |
15,529 |
|
Down payments and advances |
2,247 |
2,450 |
|
Other payables: |
|
|
|
- related to capital expenditures |
2,103 |
2,046 |
|
- others |
4,238 |
3,573 |
|
|
6,341 |
5,619 |
|
|
23,581 |
23,598 |
The increase in trade receivables amounting to €536 million primarily related to the increase in the Gas & Power segment (€613 million) and in the Exploration & Production segment (€279 million), partially offset by the decrease in the Refining & Marketing segment (€253 million).
Down payments and advances21 for €2,450 million (€2,247 million at December 31, 2012) related to contract work in progress in the Engineering & Construction segment for €1,223 million and €822 million (€814 million and €865 million at December 31, 2012, respectively).
Other payables were as follows:
|
(€ million) |
December 31, 2012 |
December 31, 2013 |
|
Payables related to capital expenditures due to |
|
|
|
- suppliers in relation to investing activities |
1,626 |
1,480 |
|
- joint venture operators in exploration and production activities |
440 |
479 |
|
- other |
37 |
87 |
|
|
2,103 |
2,046 |
|
Other payables |
|
|
|
- joint venture operators in exploration and production activities |
2,375 |
2,160 |
|
- employees |
372 |
391 |
|
- social security entities |
223 |
179 |
|
- non-financial government entities |
243 |
229 |
|
- other |
1,025 |
614 |
|
|
4,238 |
3,573 |
|
|
6,341 |
5,619 |
The decrease in other payables of €665 million included the amounts paid to the Company’s gas suppliers relating to the triggering of the take-or-pay clause of the relevant long-term supply contracts (€542 million). For further information see Note 21 – Other non-current receivables.
The fair value of trade and other payables matched their respective carrying amounts considering the short-term maturity of trade payables.
Payables to related parties are described in Note 43 – Transactions with related parties.
(21) Down payments received for long-term contracts in progress correspond to the amounts invoiced to customers in excess of the work accrued at the end of the reporting period based on the percentage of completion. Advances on long-term contracts in progress include advanced payments made by customers and contractually agreed; these advanced payments are used during the contract execution in connection with the invoicing of the works performed.
