22. Deferred income
|
31 December |
|||
(thousands of €) |
2018 |
2017 |
||
|
||||
Deferred income related to contracts |
|
|
||
Gilead collaboration agreement for filgotinib |
131,270 |
187,449 |
||
Gilead collaboration agreement for filgotinib(1) |
14,528 |
26,532 |
||
AbbVie collaboration for CF |
3,223 |
– |
||
Servier collaboration agreement for osteoarthritis |
– |
5,362 |
||
Deferred income related to contracts in our fee-for-service segment |
471 |
248 |
||
Other deferred income (grants) |
309 |
301 |
||
Total deferred income (long term & current) |
149,801 |
219,892 |
||
Deferred income (long term and short term) amounted to €149.8 million at 31 December 2018 and decreased by €70.1 million compared to €219.9 million as at 31 December 2017. The adoption of IFRS 15 resulted in a timing difference of revenue recognition between IAS 18 and IFRS 15 which negatively impacted the accumulated losses and increased the amount of deferred income (contract liabilities) by an amount of €83.2 million, as shown in the table in note 5 ‘Total revenues and other income’ (column “Deferred income reclassified from equity following adoption of IFRS 15”).
The outstanding deferred income balance at 31 December 2018 is all short term and included €145.8 million deferred income related to the collaboration agreement with Gilead for filgotinib, €3.2 million deferred income related to the collaboration agreement with AbbVie for CF, €0.5 million related to our fee-for-service segment and €0.3 million of deferred grant income.