Note 14 Deferred income
€ million | 2016 | 2015 |
Carrying amount as at 1 January | 1,559 | 1,572 |
Contributions received | 99 | 85 |
Amortisation recognised as income | -66 | -64 |
Reclassification to liabilities held for sale | - | -34 |
Reclassification | 5 | - |
Carrying amount as at 31 December | 1,597 | 1,559 |
Deferred income relates to construction contributions, investment grants and subsidies received. The amortisation periods of the construction contributions, investment grants and subsidies are equal to the depreciation periods of the underlying assets (ranging from 10 to 50 years). The reclassification of liabilities held for sale in 2015 relates to the carrying amount of Endinet as at 24 March 2015.