6.3.19Construction Work-in-progress

Note

2015

2014

Cost incurred

5,967

5,588

Instalments invoiced

(1,687)

(2,193)

Total work-in-progress

4,280

3,396

of which debtor WIP (cost incurred exceeding instalments)

4,336

3,424

of which creditor WIP (instalments exceeding cost incurred)

6.3.27

(56)

(29)

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 aforementioned details, reference is made to Note 6.3.27 "Trade and other payables".

The increased work-in-progress reflects the amount of construction activities related to FPSOs Cidade de Marica, Cidade de Saquarema and Turritella during the period.