Note 5: Revenue
AkzoNobel derives revenue from the transfer of goods and services at a point in time and over time in the major product lines and geographical regions as disclosed in the table in this Note.
For the receivables, which are included in Trade and other receivables, reference is made to Note 17.
As at December 31, 2022, and at December 31, 2021, no significant contract assets were recognized.
As at December 31, 2022, the amount of contract liabilities deferred to be recognized over time in 2023 was €4 million. These contract liabilities primarily relate to shipping, training and certain technical services, for which revenue is recognized over time. The amount of €3 million included in contract liabilities at the beginning of the period has been recognized as revenue during the year 2022 (2021: €3 million).
|
Decorative Paints |
Performance Coatings |
Other |
Total |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
In € millions |
2021 |
2022 |
2021 |
2022 |
2021 |
2022 |
2021 |
2022 |
||||
|
|
|
|
|
|
|
|
|
||||
Primary geographical markets - revenue from third parties |
|
|
|
|
|
|
|
|
||||
The Netherlands |
231 |
206 |
99 |
110 |
5 |
3 |
335 |
319 |
||||
Other EMEA countries |
2,198 |
2,199 |
2,275 |
2,515 |
— |
— |
4,473 |
4,714 |
||||
North Asia |
560 |
564 |
1,175 |
1,164 |
— |
— |
1,735 |
1,728 |
||||
South Asia Pacific |
513 |
608 |
624 |
763 |
— |
— |
1,137 |
1,371 |
||||
North America |
— |
— |
1,163 |
1,416 |
— |
— |
1,163 |
1,416 |
||||
Latin America1 |
477 |
794 |
267 |
504 |
— |
— |
744 |
1,298 |
||||
Total |
3,979 |
4,371 |
5,603 |
6,472 |
5 |
3 |
9,587 |
10,846 |
||||
|
|
|
|
|
|
|
|
|
||||
Major goods/service lines - revenue from third parties |
|
|
|
|
|
|
|
|
||||
Decorative Paints Europe, Middle East and Africa |
2,429 |
2,405 |
— |
— |
— |
— |
2,429 |
2,405 |
||||
Decorative Paints Latin America2 |
477 |
794 |
— |
— |
— |
— |
477 |
794 |
||||
Decorative Paints Asia |
1,073 |
1,172 |
— |
— |
— |
— |
1,073 |
1,172 |
||||
Powder Coatings |
— |
— |
1,315 |
1,376 |
— |
— |
1,315 |
1,376 |
||||
Marine and Protective Coatings |
— |
— |
1,164 |
1,374 |
— |
— |
1,164 |
1,374 |
||||
Automotive and Specialty Coatings |
— |
— |
1,231 |
1,390 |
— |
— |
1,231 |
1,390 |
||||
Industrial Coatings |
— |
— |
1,893 |
2,181 |
— |
— |
1,893 |
2,181 |
||||
Performance Coatings Other2 |
— |
— |
— |
151 |
— |
— |
— |
151 |
||||
Corporate and other |
— |
— |
— |
— |
5 |
3 |
5 |
3 |
||||
Total |
3,979 |
4,371 |
5,603 |
6,472 |
5 |
3 |
9,587 |
10,846 |
||||
|
|
|
|
|
|
|
|
|
||||
Timing of revenue recognition |
|
|
|
|
|
|
|
|
||||
Goods transferred at a point in time |
3,923 |
4,284 |
5,405 |
6,258 |
— |
— |
9,328 |
10,542 |
||||
Services transferred over time |
56 |
87 |
198 |
214 |
5 |
3 |
259 |
304 |
||||
Total |
3,979 |
4,371 |
5,603 |
6,472 |
5 |
3 |
9,587 |
10,846 |
||||
|
||||||||||||