Annual Report 2010 - SBM Offshore

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Consolidated statement of comprehensive income Financial Review / Financial Statements 2010 in thousands of US$ Note 2010 2009 Profit for the period 276,011 229,981 Cash flow hedges, net of tax 20 64,306 133,913 Currency translation differences, net of tax (10,642) 13,646 Other comprehensive income for the period, net of tax 53,664 147,559 Total comprehensive income for the period 329,675 377,540 2010 2009 TOTAL COMPREHENSIVE INCOME: Attributable to shareholders of the parent company 293,593 368,332 Attributable to non-controlling interests 36,082 9,208 329,675 377,540 SBM Offshore – Annual Report 2010 111
Financial Review / Financial Statements 2010 Consolidated statement of financial position at 31 December (before appropriation of profit) in thousands of US$ ASSETS Notes 2010 2009 Property, plant and equipment 10 2,941,810 2,830,302 Intangible assets 11 67,924 61,421 Investment in associates 42 46 Other financial assets 12 238,697 377,234 Deferred tax assets 13 15,717 13,087 Total non-current assets 3,264,190 3,282,090 Inventories 14 29,280 25,763 Trade and other receivables 15 723,560 681,562 Income tax receivable 16 2,932 3,014 Construction work in progress 17 833,808 458,234 Derivative financial instruments 18 126,569 61,106 Cash and cash equivalents 19 110,648 146,712 Total current assets 1,826,797 1,376,391 TOTAL ASSETS 5,090,987 4,658,481 EQUITY AND LIABILITIES Equity attributable to shareholders of the parent company Issued share capital 56,420 58,963 Share premium reserve 658,532 632,963 Retained earnings 1,406,301 1,216,343 Other reserves (48,083) (105,652) Equity attributable to shareholders of the parent company 2,073,170 1,802,617 Non-controlling interests 50,235 14,215 Total Equity 20 2,123,405 1,816,832 Interest-bearing loans and other liabilities 21 1,536,714 1,282,468 Provisions 22 43,188 43,924 Deferred tax liabilities 23 978 1,048 Total non-current liabilities 1,580,880 1,327,440 Trade and other payables 24 893,554 1,005,421 Income tax payable 11,617 8,431 Interest-bearing loans and other liabilities 25 285,056 328,237 Derivative financial instruments 18/26 196,475 172,120 Total current liabilities 1,386,702 1,514,209 TOTAL EQUITY AND LIABILITIES 5,090,987 4,658,481 112 SBM Offshore – Annual Report 2010
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Annual Report 2010
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Financial Review / Financial Statem
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1 2 Overview 11 Message from the CE
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Semi-Submersible Drilling Rig Tensi
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Deck view of the FPSO Espirito Sant
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I am pleased to report that the Com
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In addition to these main centres,
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Highlights 2010 Financial • Turno
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Shareholders As the shares are bein
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Corporate Strategy In line with the
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Lease and Operate The lease and ope
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World Map of SBM Offshore Project E
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Report of Board of Management Repor
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Report of Board of Management Compo
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Report of Board of Management requi
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Report of Board of Management In co
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Report of Board of Management Remun
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Report of Board of Management Secti
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Report of Board of Management was a
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Report of Board of Management Actua
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Report of Board of Management With
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Report of Board of Management Infor
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Disconnectable Turret of the FPSO O
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Introduction The relatively high oi
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Turnkey Systems A major highlight o
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Top: Deep Panuke Production Field C
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Report of the Board of Management 0
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At the start of 2010, the Company o
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SBM Offshore employees on board an
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Annual Report 2010 - SBM Offshore

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