17. Other Receivables
Other receivables consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
Dec. 31, 2022 |
|
Dec. 31, 2023 |
||||
|---|---|---|---|---|---|---|---|---|
|
|
Total |
|
Of which current |
|
Total |
|
Of which current |
|
|
€ million |
|
€ million |
|
€ million |
|
€ million |
Other tax receivables |
|
245 |
|
244 |
|
224 |
|
222 |
Accruals and deferrals |
|
84 |
|
79 |
|
95 |
|
92 |
Net defined benefit asset |
|
56 |
|
– |
|
66 |
|
– |
Contract assets |
|
64 |
|
62 |
|
65 |
|
64 |
Reimbursement claims |
|
2 |
|
2 |
|
23 |
|
23 |
Receivables from employees |
|
7 |
|
7 |
|
1 |
|
1 |
Miscellaneous receivables |
|
83 |
|
52 |
|
136 |
|
94 |
Total |
|
541 |
|
446 |
|
610 |
|
496 |
In fiscal 2023, Covestro was entitled to receive government grants of €64 million (previous year: €38 million) on the basis of the guideline entitled “Subsidies for indirect CO2 costs” published by the German Federal Ministry for Economic Affairs and Climate Action on September 1, 2022; these subsidies are subject to specific measures to improve energy efficiency being carried out in accordance with section 4.2.1a of this guideline. These requirements must be met by no later than December 31, 2024, and Covestro expects to be able to meet these requirements, as in the previous years. There were receivables of €57 million at the reporting date (previous year: €37 million) related to these grants, which are reported as miscellaneous receivables.
To enhance the clarity of presentation, miscellaneous financial assets, which were previously reported as part of other receivables, are shown as other financial assets for the first time in these consolidated financial statements. The prior-year figures were adjusted accordingly.