Note 14 Deferred income

€ million

2017

2016

Carrying amount as at 1 January

1,597

1,559

   

Contributions received

103

99

Amortisation recognised as income

-71

-66

Reclassification

-

5

   

Carrying amount as at 31 December

1,629

1,597

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).