|
EURm |
|
2017 |
|
2016 |
|
2015 |
|
Continuing operations |
|
|
|
|
|
|
|
Revenue from sale of products and licensing |
|
14 216 |
|
14 543 |
|
7 080 |
|
Revenue from services(1) |
|
8 150 |
|
8 166 |
|
5 421 |
|
Contract revenue recognized under percentage of completion accounting(2) |
|
781 |
|
932 |
|
59 |
|
Total |
|
23 147 |
|
23 641 |
|
12 560 |
|
(1) |
Excludes services performed as part of contracts under percentage of completion accounting. |
|
(2) |
In 2017 and 2016, contract revenue includes submarine projects, which account for the majority of the revenue. |
Revenue recognition-related positions for construction contracts in progress as of December 31:
|
|
|
2017 |
|
2016 |
||||
|
EURm |
|
Assets |
|
Liabilities |
|
Assets |
|
Liabilities |
|
Contract revenues recorded prior to billings(1) |
|
132 |
|
|
|
129 |
|
|
|
Billings in excess of costs incurred |
|
|
|
151 |
|
|
|
164 |
|
Work in progress on construction contracts |
|
28 |
|
|
|
57 |
|
|
|
Advances received |
|
|
|
45 |
|
|
|
113 |
|
Retentions |
|
– |
|
|
|
1 |
|
|
|
(1) |
Contract revenues recorded prior to billings in 2016 have been revised to include non-invoiced receivables from submarine projects. |
Work in progress is included in inventories, other assets are included in accounts receivable, and liabilities are included in accrued expenses in the consolidated statement of financial position.
The aggregate amount of costs incurred and profits recognized, net of recognized losses, for construction contracts in progress since inception are EUR 1 179 million as of December 31, 2017 (EUR 970 million in 2016).