Note 26 Construction contracts

Recognized income not yet invoiced

Group, MSEK	2016	2015
Recognized income on incomplete contracts	29,525	27,044
Invoiced sales on incomplete contracts	-26,869	-24,851
Total	2,656	2,193

Invoiced income not yet recognized

Group, MSEK	2016	2015
Invoiced sales on incomplete contracts	39,710	37,443
Recognized income on incomplete contracts	-33,801	-33,267
Total	5,909	4,176

Recognized income from contracts in progress is reported with the application of percentage of completion method. The degree of recognition is calculated on the basis of the project costs incurred at the end of the period in relation to the project costs corresponding to the project income for the whole project.

Contract assignments are reported in the balance sheet on the basis of gross project for project, either as Recognized income not yet invoiced in current assets or as Invoiced income not yet recognized in current liabilities. Projects that have higher recognized income than amounts invoiced are reported as assets, while projects that have been invoiced for more than recognized income are reported as liabilities.