ÖBB Annual Report 2023

243 Consolidated Financial Statements Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 25 Contract assets and contract liabilities Contract assets relate to the ÖBB-Personenverkehr Group’s conditional claims for consideration for the complete fulfilment of contractual services. Claims from contract assets, less amounts already charged to the customer, are also reported in the trade receivables item. The amount is charged to the customer when the Group has fulfilled its performance obligations. Contract liabilities relate to payments received prematurely, i.e. before the contractual performance obligation has been fulfilled. These are recognised as revenue as soon as the ÖBB-Personenverkehr Group has fulfilled its contractual performance obligations. In both reporting years, contract assets and contract liabilities were identified and reported under trade receivables and other liabilities, respectively. Further details are given in Notes 20 and 27. Revenue recognition ÖBB-Personenverkehr recognises revenue when it meets a performance obligation by transferring a promised good or service to a customer. An good or service is considered to be transferred when the customer obtains control of the good or service. The sales proceeds correspond to the contractually agreed transaction price. In most cases, the consideration is due when the legal title is transferred. In rare cases, deferment of payment may be agreed, but generally not to exceed twelve months. No significant financing component is therefore taken into account in the transaction price. If significant financing components exist, they are recognised in the statement of comprehensive income separately from revenues from contracts with customers if, at the inception of the contract, it is expected that the period between transfer and payment for the goods or services will be more than one year. There are no other significant variable components of the transaction price. If costs that can be capitalised arise in connection with the initiation of a contract or in connection with the fulfilment of a contract with a customer, and the contract term is more than one year, they are capitalised. The ÖBB Group does not have any contracts for which the contract term exceeds one year and for which capitalisable costs, which have not already been capitalised in accordance with IAS 16, have been incurred to a significant extent when initiating or fulfilling the contract. Accordingly, no contract initiation or fulfilment costs were capitalised. Description of the most important revenue items from contracts with customers ÖBB-Infrastruktur subgroup Infrastucture usage charge (IBE) An infrastructure charge is levied on the railway undertakings (RUs) for the use of the rail infrastructure of the ÖBB - Infrastruktur - Group. The contracts contain the orders placed by the individual RUs and are concluded by the ÖBB - Infrastructure - Group with the RUs. These orders are based on the Network Statement (SNNB), which contains a list of individual services for each working timetable period (e.g., for train paths, train movements and other services, transport stations, shunting). The charges per service and any surcharges - or discounts are published in the Network Statement. They are applied on a non-discriminatory basis to all RUs (without granting discounts). The basic provisions for calculating and setting infrastructure usage charges (route levy) and service charges are contained in Sections 67 to 69b Railways Act. The basis for the charges tariff is the definition of the services to be provided to the RU. A key service of the ÖBB-Infrastruktur subgroup is the so-called “train path” product (minimum access package). The basic access package includes the main range of services without which orderly access to the railway infrastructure would not be possible. The track access charges are published annually in the SNNB of ÖBB-Infrastruktur AG in conformity with the law. RUs have been ordering their train paths for the working timetable periods since December 2017 on the basis of the published Network Statement. The services are invoiced on a monthly basis and are based on the ACTUAL - accounting and settlement. The services ordered are charged to the customer one month in arrears. The customer receives the benefit from the company performance and uses the service while it is being provided. Any claims for reimbursement that are uncertain both in terms of reason and amount, depend on future events and may lead to an impending outflow of resources in the future are recognised in accordance with IAS 37. The amount of the possible recovery is estimated and a corresponding provision is created.