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).