2019 Annual financial report

Note 24 Other creditors and current liabilities

(in millions of euros)	December 31, 2019	December 31, 2018
Advances and deposits received	Advances and deposits received December 31, 2019 336	Advances and deposits received December 31, 2018 350
Liabilities to employees	Liabilities to employees December 31, 2019 665	Liabilities to employees December 31, 2018 614
Tax liabilities (excl. income tax)	Tax liabilities (excl. income tax) December 31, 2019 348	Tax liabilities (excl. income tax) December 31, 2018 250
Derivatives backed by current assets or liabilities	Derivatives backed by current assets or liabilities December 31, 2019 12	Derivatives backed by current assets or liabilities December 31, 2018 16
Eurobond derivatives	Eurobond derivatives December 31, 2019 199	Eurobond derivatives December 31, 2018 46
Derivatives on intercompany loans and borrowings	Derivatives on intercompany loans and borrowings December 31, 2019 67	Derivatives on intercompany loans and borrowings December 31, 2018 20
Other current liabilities	Other current liabilities December 31, 2019 96	Other current liabilities December 31, 2018 136
Total	Total December 31, 2019 1,723	Total December 31, 2018 1,432

Note 25 Contract assets and liabiities

Contract assets

Contract assets relating to work carried out but not yet invoiced. The performance obligation was satisfied at the reporting date thereby permitting revenue recognition.

Contract liabilities

(in millions of euros)	2019	2018
Total contract liabilities at January 1,	Total contract liabilities at January 1, 2019 284	Total contract liabilities at January 1, 2018 423
Amount recognized in revenue over the period	Amount recognized in revenue over the period 2019 (284)	Amount recognized in revenue over the period 2018 (423)
Amount to be recognized in subsequent periods	Amount to be recognized in subsequent periods 2019 346	Amount to be recognized in subsequent periods 2018 284
Foreign exchange	Foreign exchange 2019 7	Foreign exchange 2018 -
Total contract liabilities at December 31,	Total contract liabilities at December 31, 2019 353	Total contract liabilities at December 31, 2018 284