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C6 Trade and other payables

NBN Co Group

30 June 2019

30 June 2018

$m

$m

Current

Trade and other payables

192

236

Contract liabilities

119

89

Accruals

2,440

2,036

Total

2,751

2,361

NBN Co Group

30 June 2019

30 June 2018

$m

$m

Non-current

Trade and other payables

1

2

Contract liabilities

4

1

Total

5

3

The accruals balance includes $1,147 million (2018: $985 million) relating to property, plant and equipment and intangible assets under construction, based on an assessment of the estimated cost to complete and percentage of completion of assets at the reporting date.

Recognition and measurement
Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the reporting date and which are unpaid. The amounts are unsecured. Trade and other payables are initially recognised at their fair value and subsequently carried at amortised cost using the effective interest method.