• Consolidated Financial Statements 
  • Auditor`s Report 
  • Consolidated statement of income 
  • Consolidated balance sheet 
  • Consolidated cash flow statement 
  • Consolidated Statement of Shareholders´ Equity 
  • Segment Reporting 
  • Notes 
    • General Notes 
    • Notes on the consolidated statement of income 
    • Notes on the consolidated balance sheet 
      • 13. Cash and cash equivalents 
      • 14. Trade accounts receivable 
      • 15. Inventories 
      • 16. Prepaid expenses and other current and non-current asset 
      • 17. Property, plant and equipment 
      • 18. Goodwill and other intangible assets 
      • 19. Other accrued expenses 
      • 20. Other liabilities 
      • 21. Debt and liabilities from capital lease obligations 
      • 22. Senior Notes 
      • 23. Mandatory Exchangeable Bonds 
      • 24. Pensions and similar obligations 
      • 25. Trust preferred securities 
      • 26. Minority interest 
      • 27. Shareholders’ equity 
      • 28. Other comprehensive income (loss) 
    • Other notes 
    • Notes in accordance with the german commercial code (HGB) 

Home Consolidated Financial Statements Notes Notes on the consolidated balance sheet 16. Prepaid expenses and other current and non-current asset

16. 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:

	2008		2007
in million €		thereof short-term		thereof short-term
Tax receivables	170	164	116	113
Accounts receivable resulting from German “Krankenhausfinanzierungsgesetz”	128	101	150	120
Capitalized debt financing costs	116	7	49	2
Investments and long-term loans	98	3	52	0
Derivative financial instruments	87	74	18	17
Prepaid expenses	39	13	77	16
Advances made	32	32	20	20
Re-insurance claims	27	0	29	0
Accounts receivable from management contracts in clinics	10	10	10	10
Other assets	508	378	383	312
Prepaid expenses and other assets, gross	1,215	782	904	610
less allowances	9	9	11	7
Prepaid expenses and other assets, net	1,206	773	893	603

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 € 2 million and € 5 million were recognized in the fiscal years 2008 and 2007, respectively. In 2008 as well as in 2007, there were no reclassifications to other non-current assets.