7 Other current and non-current assets
Other current assets of €67 million (€108 million at 31 December 2014) and other non-current assets of €170 million (€167 million at 31 December 2014) break down as follows:
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31.12.2014 |
30.06.2015 |
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(€ million) |
Current |
Non- current |
Total |
Current |
Non- current |
Total |
|
Regulated assets |
47 |
97 |
144 |
28 |
105 |
133 |
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Market value of derivative financial instruments |
1 |
5 |
6 |
1 |
|
1 |
|
Other assets: |
60 |
65 |
125 |
38 |
65 |
103 |
|
- Prepayments |
13 |
25 |
38 |
15 |
25 |
40 |
|
- Security deposits |
|
15 |
15 |
|
16 |
16 |
|
- Other |
47 |
25 |
72 |
23 |
24 |
47 |
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|
108 |
167 |
275 |
67 |
170 |
237 |
Regulated assets (€133 million; €144 million at 31 December 2014) related to the natural gas transportation service and mainly concerned the amounts invoiced below the restriction established by the Regulator (€131 million, of which €28 million related to the current portion and €103 million related to the non-current portion).
The market value of the derivatives in place at 30 June 2015 is analysed in Note 13 “Other current and non-current liabilities”.
Other assets (€103 million; €125 million at 31 December 2014) relate mainly to:
- prepayments (€40 million, including a current portion of €15 million and a non-current portion of €25 million) relating mainly to upfront fees and to the substitute tax on revolving credit lines7;
- security deposits (€16 million), relating mainly to the natural gas transportation segment;
- other assets (€47 million, including a current portion of €23 million and a non-current portion of €24 million), recorded mainly in relation to lower quantities of fuel gas allocated by users of the transportation services in previous years pursuant to Resolution ARG/gas 184/09 than the quantities actually used in said years, which will be equalised in the coming years by increasing the quantities to be allocated by said users (€46 million, including a current portion of €23 million and a non-current portion of €23 million).
7 Upfront fees and the substitute tax are to be considered as “Transaction costs” pursuant to IAS 39 – “Financial instruments: Recognition and Measurement”; the relevant charges are spread over the expected lifetime of the financial instrument.