Annual Report 2010 - SBM Offshore
Annual Report 2010 - SBM Offshore
Annual Report 2010 - SBM Offshore
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Financial Review / Financial Statements <strong>2010</strong><br />
21. Interest-bearing loans and other liabilities<br />
The breakdown is as follows:<br />
in thousands of US$ <strong>2010</strong> 2009<br />
Bank interest-bearing loans and borrowings - non current portion 1,487,454 1,217,394<br />
Deferred income 49,260 24,634<br />
Other loans - 40,440<br />
Total 1,536,714 1,282,468<br />
Bank interest-bearing loans and borrowings<br />
The movement in the bank interest bearing loans and<br />
borrowings is as follows:<br />
in thousands of US$ Note <strong>2010</strong> 2009<br />
Non-current portion 1,217,393 1,349,983<br />
Add: Current portion 322,996 255,187<br />
Remaining principal at 1 January 1,540,389 1,605,170<br />
Additions 612,539 494,443<br />
Redemptions (387,646) (559,223)<br />
Movements 224,893 (64,780)<br />
Remaining principal at 31 December 1,765,282 1,540,390<br />
Less: Current portion 25 (277,828) (322,996)<br />
Non-current portion 1,487,454 1,217,394<br />
The bank interest-bearing loans and borrowings have<br />
the following forecasted repayment schedule:<br />
in thousands of US$ <strong>2010</strong> 2009<br />
Within one year 277,828 322,996<br />
Between 1 and 2 years 381,522 425,311<br />
Between 2 and 5 years 950,762 618,948<br />
More than 5 years 155,170 173,135<br />
Remaining principal at 31 December 1,765,282 1,540,390<br />
158 <strong>SBM</strong> <strong>Offshore</strong> – <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong>