The carrying value of inventories, broken down by nature, is as follows:
31/12/2020 | 31/12/2019 | |||||
|---|---|---|---|---|---|---|
(in millions of euros) | Gross value | Provision | Net value | Gross value | Provision | Net value |
| Nuclear fuel | Nuclear fuel 31/12/2020 10,564 | Nuclear fuel 31/12/2019 (33) | 10,531 | 10,649 | (4) | 10,645 |
| Other fuel | Other fuel 31/12/2020 770 | Other fuel 31/12/2019 (42) | 728 | 872 | (30) | 842 |
| Other supplies | Other supplies 31/12/2020 1,660 | Other supplies 31/12/2019 (398) | 1,262 | 1,624 | (360) | 1,264 |
| Work-in-progress for production of goods and services | Work-in-progress for production of goods and services 31/12/2020 469 | Work-in-progress for production of goods and services 31/12/2019 (33) | 436 | 497 | (30) | 467 |
| Other inventories | Other inventories 31/12/2020 1,804 | Other inventories 31/12/2019 (23) | 1,781 | 869 | (38) | 831 |
TOTAL INVENTORIES | TOTAL INVENTORIES 31/12/2020 15,267 | TOTAL INVENTORIES 31/12/2019 (529) | 14,738 | 14,511 | (462) | 14,049 |
The long-term portion (more than one year) mainly concerns nuclear fuel inventories amounting to €8,068 million at 31 December 2020 (€7,828 million at 31 December 2019).
The value of EDF Trading’s inventories stated at market value is recognised in “Other fuel” and “Other inventories” and stands at €300 million at 31 December 2020(€141 million at 31 December 2019).
The increase in the value of “Other inventories” over 2020 is mainly related to capacity guarantees in France, due to the increase in purchase prices observed since the June 2020 auctions (see note 5.1), and energy savings certificates inventories (see note 5.4.3).
Trade receivables are initially recognised at the fair value of the consideration received or receivable, and subsequently carried at amortised cost or at fair value through OCI.
Trade receivables also include the value of unbilled receivables for energy already supplied, which are presented net of advances received from customers who pay in regular monthly instalments.
The Group applies IFRS 9’s simplified approach to measure expected credit losses on trade receivables, using provision matrices established on the basis of credit loss histories.
Details of net trade receivables are as follows:
(in millions of euros) | Note | 31/12/2020 | 31/12/2019 |
|---|---|---|---|
| Trade receivables, gross value – excluding EDF Trading | Trade receivables, gross value – excluding EDF Trading Note
| Trade receivables, gross value – excluding EDF Trading 31/12/202014,686 | Trade receivables, gross value – excluding EDF Trading 31/12/2019 15,066 |
| contract assets | contract assets Note 13.3.3 | contract assets 31/12/2020389 | contract assets 31/12/2019 400 |
| Trade receivables, gross value – EDF Trading | Trade receivables, gross value – EDF Trading Note
| Trade receivables, gross value – EDF Trading 31/12/20201,036 | Trade receivables, gross value – EDF Trading 31/12/2019 1,583 |
| Impairment* | Impairment *Note
| Impairment *31/12/2020(1,201) | Impairment *31/12/2019 (1,043) |
TRADE RECEIVABLES – NET VALUE | TRADE RECEIVABLES – NET VALUE Note
| TRADE RECEIVABLES – NET VALUE 31/12/202014,521 | TRADE RECEIVABLES – NET VALUE 31/12/2019 15,606 |
*See note 1.4.1.3.
Advances received from customers in France who pay in regular monthly instalments, amounting to €6,782 million at 31 December 2020 (€6,719 million at 31 December 2019), are deducted from trade receivables.
