Annual Report 2010 - SBM Offshore

12. Other financial assets
in thousands of US$ 2010 2009
Non-current portion of finance lease receivables 72,060 146,345
Other financial assets 166,637 230,889
Total 238,697 377,234
Non-current portion of finance lease receivables
Non-current portion of finance lease receivables relate
to the finance leases of the FPSO Mondo and FPSO
Saxi Batuque. The FPSOs were taken into production
during the course of 2008. The reconciliation between
the total gross investment in the lease and the net
investment in the lease at the balance sheet date is as
follows:
in thousands of US$ Note 2010 2009
Gross receivable 180,247 261,300
Less: Unearned finance income (31,760) (46,083)
Total 148,487 215,217
Of which
Current portion 15 76,427 68,872
Non-current portion 72,060 146,345
Included in the gross receivable is an amount related
to unguaranteed residual values. No allowances for
expected uncollectible minimum lease payments are
deducted.
Gross receivables are expected to be invoiced to the
lessee within the following periods:
in thousands of US$ 2010 2009
within 1 year 86,185 83,804
between 1 and 5 years 65,298 141,501
after 5 years 28,764 35,995
Total Gross receivable 180,247 261,300
The table above does not include the amounts to
be invoiced on the finance lease contracts that were
awarded during the course of 2010 which, at the end of
2010, are included under 'Construction contracts'.
Financial Review / Financial Statements 2010
SBM Offshore – Annual Report 2010 149