14. PREPAID EXPENSES AND OTHER CURRENT AND NON-CURRENT ASSETS

As of December 31, prepaid expenses and other current and non-current assets comprised the following:

in million €		2007 thereof short-term		2006 thereof short-term
Accounts receivable resulting from German "Krankenhausfinanzierungsgesetz”	150	120	220	160
Tax receivables	116	113	126	124
Investments and long-term loans	52	0	51	0
Derivative financial instruments	18	17	64	10
Advances made	20	20	17	17
Prepaid expenses	77	16	74	13
Re-insurance claims	29	0	23	0
Accounts receivable from management contracts in clinics	10	10	10	10
Other assets	432	314	531	403
Prepaid expenses and other assets, gross	904	610	1,116	737
less allowances	11	7	8	7
Prepaid expenses and other assets, net	893	603	1,108	730

The receivables resulting from the German “Krankenhausfinanzierungsgesetz” primarily contain approved but not yet received earmarked subsidies of the Fresenius Helios operations. The approval is evidenced in a letter written by the granting authorities that Fresenius Helios has already received.

Depreciations on other non-current assets in an amount of € 5 million and € 6 million were recognized in the fiscal years 2007 and 2006, respectively. In 2007 as well as in 2006, there were no reclassifications to other non-current assets.