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€ million

 

Dec. 31, 2012

 

Dec. 31, 2011

Trade receivables from

 

 

 

 

third parties

 

8,705

 

8,989

affiliated companies

 

167

 

196

joint ventures

 

1,191

 

1,267

associates

 

33

 

25

other investees and investors

 

3

 

1

 

 

10,099

 

10,479

The fair values of the trade receivables correspond to the carrying amounts.

The trade receivables include receivables from construction contracts accounted for using the percentage of completion method. These are calculated as follows:

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€ million

 

Dec. 31, 2012

 

Dec. 31, 2011

Contract costs and proportionate contract profit/loss of construction contracts

 

1,704

 

1,351

of which billed to customers

 

–11

 

Exchange rate effects

 

–2

 

4

PoC receivables, gross

 

1,691

 

1,355

Prepayments received

 

–1,475

 

–1,157

PoC receivables, net

 

217

 

198

Other payments received on account of construction contracts in the amount of €407 million (previous year: €1 million), for which no construction costs have yet been incurred, are recognized under other liabilities.

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