17 Contract liabilities Following the transition to IFRS 15, a remeasurement effect totaling EUR 0.6 billion was recognized directly in equity as of January 1, 2018. This related to the initial recognition of contract liabilities that would have resulted in the later recognition of revenue under IFRS 15. In addition, a total of EUR 1.9 billion was reclassified as contract liabilities as of January 1, 2018 in connection with IFRS 15. These reclassifications mainly comprise deferred revenue that was recognized under other liabilities as of December 31, 2017. The carrying amount for current and non-current contract liabilities was remeasured at EUR 2.3 billion as of the end of the 2018 financial year. For further information on the new accounting standards, please refer to the section “Initial application of standards, interpretations, and amendments in the financial year”. Of the total of contract liabilities, EUR 1,720 million (January 1, 2018: EUR 1,911 million) is due within one year. Revenue of EUR 1,619 million from contract liabilities that were still outstanding at the start of the 2018 financial year was realized during the reporting year. In addition, contract liabilities decreased by EUR 20 million due to a refund of already paid customer activation fees.