This excerpt taken from the VE 6-K filed Apr 23, 2008.
4.7. Deferred income
Deferred income totals €31,761 thousand and mainly comprises balancing cash adjustments on derivatives of €30,595 thousand and interest received in advance on certificates of deposit of €1,102 thousand.
This excerpt taken from the VE 20-F filed Jun 30, 2005.
Deferred income includes mainly €868.9 million in investment subsidies received in connection with the management of municipal outsourcing contracts (€817.7 million at December 31, 2003) and €516.4 million in payments resulting from the securitization of future receivables (€624.6 million at December 31, 2003). To finance most of its cogeneration plants, Dalkia has sold in advance the proceeds from the sale of electricity that EDF has pledged to acquire under long-term contracts. Since January 1, 1998, these proceeds have been amortized on an actuarial basis over the duration of these loans, which range from 5 to 12 years.