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Financial statements

6. Subcontracted work and other external costs

The costs of subcontracted work are the costs relating to the execution of assignments by third parties that are not covered by the other items in this category.

7. Infrastructure levies and franchise fees

The infrastructure levies and franchise fees for the railways in the United Kingdom include an amount of €18 million (2018: €41 million) relating to the mechanism of Central London Employment (CLE), as included in the Greater Anglia franchise

8. Other operating expenses

‘Other operating expenses’ include insurance, accommodation costs, costs of fixtures and fittings, auditor’s fees, marketing costs, maintenance costs for operating assets and additions to provisions.

9. Income tax

Corporation tax is calculated based on the applicable tax rates in the Netherlands, the United Kingdom, Ireland and Germany, taking into account the tax rules that give rise to permanent differences between the determination of the profit for

10. Deferred income tax

The changes in deferred tax assets and liabilities are as follows.

11. Property, plant and equipment

In 2018, equipment with a carrying amount of €185 million was sold to a third party and this equipment has been leased from that moment on (Traxxen). The result of this transaction is not material.

12. Investment property

In view of the nature, diversity and locations (station areas), the fair value of the investment property portfolio is not determined on a regular basis, unless impairment applies.

13. Intangible assets

The remaining goodwill concerns our operations in the United Kingdom and Germany.

14. Impairments of non-current assets or reversals of such impairments

The cash flows that were used for determining the impairments are based on the business plans drawn up by the business unit concerned for a period of at least five years.

15. Investments accounted for using the equity method

The investments that are accounted for using the equity method have a carrying amount of €19 million (2018: €17 million). The financial information for these investments is as follows.

16. Inventories

The inventories of maintenance materials consist of raw materials and other materials for the production and maintenance of finished and semi-finished products for the maintenance centres.

17. Trade and other receivables

Trade and other receivables includes an amount of €3 million (2018: €8 million) relating to ProRail and the Dutch central government.

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