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This excerpt taken from the PBR 6-K filed Mar 30, 2009. 6. Accounts Receivable, Net Accounts receivable, net consisted of the following:
At December 31, 2008 and 2007, long-term receivables include US$624 and US$616, respectively relating to payments made by the Company to suppliers and subcontractors on behalf of certain contractors. These contractors had been hired by the subsidiary Brasoil for the construction/conversion of vessels into FPSO (“Floating Production, Storage and Offloading”) and FSO (“Floating, Storage and Offloading”) and failed to make the payments to their suppliers and subcontractors. The Company made the payments to avoid further delays in the construction/conversion of the vessels and consequent losses to Brasoil. 43 The Company’s management has determined that these payments can be reimbursed, since they represent Brasoil’s rights with respect to the contractors, for which reason judicial action was filed with international courts to seek reimbursement. However, as a result of the uncertainties related to the realization of such receivables, the Company recorded an allowance for all credits not backed by collateral. Such allowance amounted to US$553 and US$544 as of December 31, 2008 and 2007, respectively. 44 This excerpt taken from the PBR 6-K filed Aug 13, 2008. 4 Accounts receivable, net
(*) It does not include dividends receivable of R$ 542.011 thousand as at June 30, 2008 (R$ 477.884 thousand as at March 31, 2008) and reimbursements receivables of R$ 1.532.408 thousand as at June 30, 2008 (R$ 1.433.400 thousand as at March 31, 2008).
This excerpt taken from the PBR 6-K filed Mar 18, 2008. 6. Accounts Receivable, Net Accounts receivable, net consisted of the following:
35 6. Accounts Receivable, Net (Continued) At December 31, 2007 and 2006, long-term receivables include US$616 and US$608, respectively relating to payments made by the Company to suppliers and subcontractors on behalf of certain contractors. These contractors had been hired by the subsidiary Brasoil for the construction/conversion of vessels into FPSO (“Floating Production, Storage and Offloading”) and FSO (“Floating, Storage and Offloading”) and failed to make the payments to their suppliers and subcontractors. The Company made the payments to avoid further delays in the construction/conversion of the vessels and consequent losses to Brasoil. The Company’s management has determined that these payments can be reimbursed, since they represent Brasoil’s rights with respect to the contractors, for which reason judicial action was filed with international courts to seek reimbursement. However, as a result of the uncertainties related to the realization of such receivables, the Company recorded an allowance for all credits not backed by collateral. Such allowance amounted to US$544 and US$536 as of December 31, 2007 and 2006, respectively. This excerpt taken from the PBR 6-K filed Mar 4, 2008. 5 Accounts receivable, net
(*) Includes exchange variation of allowance for doubtful accounts booked at companies abroad. This excerpt taken from the PBR 6-K filed Aug 21, 2007. 3. ACCOUNTS RECEIVABLE, NET Accounts receivable are broken down as follows:
(*) Does not include dividends receivable of R$ 119.356 thousand on June 30, 2007 (R$ 579.431 thousand on March 31, 2007) and reimbursements receivable of R$ 1.193.152 thousand on June 30, 2007 (R$ 950.794 thousand on March 31, 2007). This excerpt taken from the PBR 6-K filed Jun 8, 2007. 3. ACCOUNTS RECEIVABLE, NET Accounts receivable are broken down as follows:
(*) Does not include dividends receivable of R$ 579.431 thousand on March 31, 2007 (R$ 777.593 thousand on December 31, 2006) and reimbursements receivable of R$ 950.794 thousand on March 31, 2007 (R$ 878.168 thousand on December 31, 2006). This excerpt taken from the PBR 6-K filed Apr 10, 2007. 6. Accounts Receivable, Net Accounts receivable, net consisted of the following:
31 6. Accounts Receivable, Net (Continued) At December 31, 2006 and 2005, long-term receivables include US$608 and US$599 respectively relating to payments made by the Company to suppliers and subcontractors on behalf of certain contractors. These contractors had been hired by the subsidiary BRASOIL for the construction/conversion of vessels into FPSO (“Floating Production, Storage and Offloading”) and FSO (“Floating, Storage and Offloading”) and failed to make the payments to their suppliers and subcontractors. The Company made the payments to avoid further delays in the construction/conversion of the vessels and consequent losses to BRASOIL. Based on consultations with legal advisers, the Company’s management has determined that these payments can be reimbursed, since they represent BRASOIL’s rights with respect to the contractors, for which reason judicial action was filed with international courts to seek reimbursement. However, as a result of the uncertainties related to the realization of such receivables, the Company recorded an allowance for all credits not backed by collateral. Such allowance amounted to US$536 and US$527 as of December 31, 2006 and 2005, respectively. This excerpt taken from the PBR 6-K filed Nov 17, 2006. 3. ACCOUNTS RECEIVABLE, NET Accounts receivable are broken down as follows:
(*) Does not include dividends receivable R$ 249.191thousand on September 30, 2006 (R$ 252.684 thousand on June 30, 2006) and refunds receivable of R$ 831.809 thousand on September 30, 2006 (R$ 673.136 thousand on June 30, 2006).
(*) Includes foreign exchange variances on the provision for doubtful debts from foreign companies.
This excerpt taken from the PBR 6-K filed Aug 25, 2006. 3) ACCOUNTS RECEIVABLE, NET Accounts receivable are broken down as follows:
14 This excerpt taken from the PBR 6-K filed Jun 26, 2006. 3) Accounts receivable, net Accounts receivable are broken down as follows:
(*) Does not include Balances of dividends receivable of R$ 797.531 thousand as of March 31, 2006 (R$ 945.676 thousand as of December, 31 2005) and refunds receivable of R$ 572.861 thousand as of March 31, 2006 (R$ 469.711 thousand as of December 31, 2005). 11
(*) Includes foreign exchange variation on the provision for uncollectible accounts from companies abroad. | EXCERPTS ON THIS PAGE:
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