Estados Financieros, (Inglés, Español) - Túnel San Cristóbal

16. OPERATING INCOME AND OPERATING
AND MAINTENANCE COSTS
In accordance with what is set forth in letter a) number
1.8.6.2 of the Bidding Terms and Conditions, which form
17. LEASES
a) Financial leases
Leases are classified as financial leases when the risks and
benefits of ownership of the leased assets are transferred to
the lessee, which normally has the option of acquiring the
asset at the end of the lease under the conditions agreed to
when the transaction was formalized.
The assets acquired under finance leases are classified in
Property, Plant and Equipment, according to the nature of
the asset, and recorded as a counterpart to a liability for the
same amount, at the lesser of the fair value or the current
value of the amount to be paid to the lessor included in
the price of the purchase option. These are amortized using
part of the Concession Contract for the Public Works called
“Concesión Variante Vespucio - El Salto - Kennedy”, the
current operating income and operating and maintenance
costs for the years ended December 31, 2011 and 2010 are
broken down as follows:
ACCUMULATED
Concepts
01/01/11 01/01/10
12/31/11 12/31/10
ThCh$ ThCh$
Income from Operation 4,512,164 5,481,644
Income from collection of tariff 4,102,605 3,592,745
Indemnity Payment from MOP under Ad Ref Agreement 3 - 1,823,722
Other charges authorized by the MOP 409,559 65,177
Operation and Maintenance Costs (3,280,313) (3,340,995)
Depreciation (467,980) (433,747)
Works maintenance expenses (312,143) (323,230)
Bad debt provision (163,258) (112,632)
Other operating costs and expenses (2,336,645) (2,471,386)
similar criteria to those applied to the set of the same kind
of assets.
At the closing of these financial statements the Company
had not entered into any contracts of this type.
b) Operating leases
Operating leases are those in which the implicit risks and
benefits of ownership of the asset are not transferred by the
lessor.
Operating lease charges are charged systematically to
income for the period in which they are incurred; payments
made for lease of vehicles are included under this concept.
ACCUMULATED
Information to disclose on operating leases as a
01/01/11 01/01/10
lessor 12/31/11 12/31/10
ThCh$ ThCh$
Operating lease installments 28,860 26,056
175