4.3.19Construction Work-In-Progress
|
Note |
31 December 2017 |
31 December 2016 |
|
|---|---|---|---|
|
Cost incurred |
947 |
856 |
|
|
Instalments invoiced |
(833) |
(855) |
|
|
Total construction work-in-progress |
114 |
1 |
|
|
of which debtor WIP (cost incurred exceeding instalments) |
134 |
15 |
|
|
of which creditor WIP (instalments exceeding cost incurred) |
(21) |
(14) |
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 afore-mentioned details, reference is made to note 4.3.27 ’Trade and other payables’.
The increased construction work-in-progress mainly reflects the amount of construction activities related to FPSO Liza completed during the period.