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€ million

 

Dec. 31, 2011

 

Dec. 31, 2010

Trade receivables from

 

 

 

 

third parties

 

8,989

 

5,850

affiliated companies

 

196

 

118

joint ventures

 

1,267

 

908

associates

 

25

 

6

other investees and investors

 

1

 

1

 

 

10,479

 

6,883

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, 2011

 

Dec. 31, 2010

Contract costs and proportionate contract profit/loss of construction contracts

 

1,351

 

Exchange rate effects

 

4

 

PoC receivables, gross

 

1,355

 

Prepayments received

 

–1,157

 

PoC receivables, net

 

198

 

Other payments received on account of construction contracts in the amount of €1 million (previous year: €7 million), for which no construction costs have yet been incurred, are recognized under other liabilities.

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