5.3.19Construction Work-in-progress
|
Note |
31 December 2016 |
31 December 2015 |
|
|---|---|---|---|
|
Cost incurred |
856 |
5,967 |
|
|
Instalments invoiced |
(855) |
(1,687) |
|
|
Total construction work-in-progress |
1 |
4,280 |
|
|
of which debtor WIP (cost incurred exceeding instalments) |
15 |
4,336 |
|
|
of which creditor WIP (instalments exceeding cost incurred) |
(14) |
(56) |
The cost incurred includes the amount of recognized profits and losses to date. The instalments exceeding cost incurred comprise the amounts of those individual contracts for which the total instalments exceed the total cost incurred. The instalments exceeding cost incurred are reclassified to other current liabilities. Advances received from customers are included in other current liabilities. For both aforementioned details, reference is made to Note 5.3.27 ‘Trade and other payables‘.
The decreased construction work-in-progress reflects the completion of construction activities related to FPSOs Cidade de Marica, Cidade de Saquarema and Turritella during the period.