Note 4: Revenue
AkzoNobel derives revenue from the transfer of goods and services over time and at a point in time in the major product lines and geographical regions as disclosed in the table below:
In € millions |
Decorative Paints |
Performance Coatings |
Other |
Total |
|
|
|
|
|
Primary geographical markets – revenue from third parties |
|
|
|
|
The Netherlands |
202 |
91 |
25 |
318 |
Other European countries |
1,684 |
2,042 |
– |
3,726 |
North America |
– |
1,134 |
– |
1,134 |
South America |
461 |
353 |
1 |
815 |
Asia |
1,136 |
1,568 |
– |
2,704 |
Other regions |
184 |
375 |
– |
559 |
Total |
3,667 |
5,563 |
26 |
9,256 |
|
|
|
|
|
Major goods/service lines – group revenue |
|
|
|
|
Decorative Paints Europe, Middle East and Africa |
2,093 |
– |
– |
2,093 |
Decorative Paints South America |
468 |
– |
– |
468 |
Decorative Paints Asia |
1,144 |
– |
– |
1,144 |
Powder Coatings |
– |
1,218 |
– |
1,218 |
Marine and Protective Coatings |
– |
1,291 |
– |
1,291 |
Automotive and Specialty Coatings |
– |
1,392 |
– |
1,392 |
Industrial Coatings |
– |
1,738 |
– |
1,738 |
Other |
(6) |
(52) |
(30) |
(88) |
Total |
3,699 |
5,587 |
(30) |
9,256 |
|
|
|
|
|
Timing of revenue recognition |
|
|
|
|
Goods transferred at a point in time |
3,638 |
5,374 |
– |
9,012 |
Services transferred over time |
29 |
189 |
26 |
244 |
Total |
3,667 |
5,563 |
26 |
9,256 |
For the receivables, which are included in Trade and other receivables, reference is made to Note 15. For the receivables, which are included in Assets held for sale, reference is made to Note 2.
As at December 31, 2018, no contract assets were recognized.
As at December 31, 2018, the amount of contract liabilities deferred to be recognized over time in 2019 is €3 million.
These contract liabilities primarily relate to shipping, training and certain technical services, for which revenue is recognized over time.
The amount of €3 million included in contract liabilities at the beginning of the period has been recognized as revenue during the year 2018.