The carrying value of inventories, broken down by nature, is as follows:
| 31/12/2022 | 31/12/2021 | |||||
|---|---|---|---|---|---|---|
| (in millions of euros) | Gross value | Provision | Net value | Gross value | Provision | Net value |
| Nuclear fuel | 10,737 | (422) | 10,315 | 10,938 | (459) | 10,479 |
| Other fuel | 2,029 | (2) | 2,027 | 1,255 | (4) | 1,251 |
| Other supplies | 1,878 | (422) | 1,456 | 1,770 | (402) | 1,368 |
| Work-in-progress for production of goods and services | 622 | (35) | 587 | 615 | (38) | 577 |
| Other inventories | 3,326 | (50) | 3,276 | 2,540 | (18) | 2,522 |
| TOTAL INVENTORIES | 18,592 | (931) | 17,661 | 17,118 | (921) | 16,197 |
The long-term portion (more than one year) mainly concerns nuclear fuel inventories and amounts to €8,557 million at 31 December 2022 (8,576 million at 31 December 2021).
The change in inventories in 2022 is principally explained by the increase over the year in stocks of energy savings certificates, presented in “Other inventories” (see note 5.5.4), and the rise in gas prices and volumes, presented in “Other fuel”.
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 | 31/12/2022 | 31/12/2021 |
|---|---|---|---|
| Trade receivables, gross value – excluding EDF Trading |
Trade receivables, gross value – excluding EDF Trading Note
|
Trade receivables, gross value – excluding EDF Trading 31/12/202221,568 |
Trade receivables, gross value – excluding EDF Trading 31/12/202119,781 |
| contract assets | contract assetsNote13.3.3 | contract assets31/12/2022441 | contract assets31/12/2021545 |
| Trade receivables, gross value – EDF Trading |
Trade receivables, gross value – EDF Trading Note
|
Trade receivables, gross value – EDF Trading 31/12/20224,598 |
Trade receivables, gross value – EDF Trading 31/12/20213,545 |
| Impairment |
Impairment Note
|
Impairment 31/12/2022(1,322) |
Impairment 31/12/2021(1,091) |
| TRADE RECEIVABLES – NET VALUE |
TRADE RECEIVABLES – NET VALUENote
|
TRADE RECEIVABLES – NET VALUE31/12/202224,844 | TRADE RECEIVABLES – NET VALUE31/12/202122,235 |
Most trade receivables mature within one year.
Advances received from customers in France who pay in regular monthly instalments, amounting to €7,423 million at 31 December 2022 (€7,071 million at 31 December 2021), are deducted from trade receivables.
The increase in 2022 in the gross value of trade receivables excluding EDF Trading is mainly explained by changes in the prices billed to customers due to the impact of rising market prices: this mainly concerned EDF Energy (€1.5 billion). In France, the variation in this item was negative due to the tariff cap measures introduced by the government, particularly the lower rate of the TICFE.
Impairment of trade receivables increased, principally in the United Kingdom and Belgium, as the credit risk was considered higher due to the higher prices billed to customers in line with rising market prices.
| 31/12/2022 | 31/12/2021 | |||||
|---|---|---|---|---|---|---|
| (in millions of euros) | Gross value | Provision | Net value | Gross value | Provision | Net value |
| TRADE RECEIVABLES | 26,166 | (1,322) | 24,844 | 23,326 | (1,091) | 22,235 |
| overdue by up to 6 months | 2,037 | (183) | 1,854 | 1,285 | (215) | 1,070 |
| overdue by 6-12 months | 678 | (242) | 436 | 481 | (136) | 345 |
| overdue by more than 12 months | 1,117 | (551) | 566 | 978 | (551) | 427 |
| Trade receivables due | 3,832 | (976) | 2,856 | 2,744 | (902) | 1,842 |
| Trade receivables not yet due | 22,334 | (346) | 21,988 | 20,582 | (189) | 20,393 |
