Financial Review / Financial Statements 2010
The provisions with respect to subsidiaries can be specified as follows: in thousands of US$
Participation in Group Companies Amounts owed by Group Total
2010 53,164 (46,559) 6,605
2009 50,309 (50,309) -
2010 20,302 51 1,328 21,681
2009 11,209 271 5,094 16,574
This item relates to van der Giessen-de Noord N.V., XNK and Gusto subsidiaries. 6. Other current liabilities in thousands of US$
Amounts owed to Group companies Taxation and social security costs Other creditors Total
7. Commitments and contingencies The Company has issued performance guarantees for contractual obligations to complete and deliver projects in respect of several Group companies, and fulfilment of obligations with respect to F(P)SO long-term lease/ operate contracts. Furthermore, the Company has issued parent company guarantees in respect of several Group companies’ financing arrangements. The Company is head of a fiscal unity in which almost all Dutch Group companies are included. This means that these companies are jointly and severally liable in respect of the fiscal unity as a whole. Schiedam, 3 March 2011
Management Board
Supervisory Board
A.J. Mace, CEO M.A.S. Miles, CFO
H.C. Rothermund, Chairman R. van Gelder, Vice-Chairman F.J.G.M. Cremers F.G.H. Deckers T. Ehret F.R. Gugen
SBM Offshore – Annual Report 2010
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