Send us Feedback

Petrobras (PBR)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

PBR » Topics » 22.1 Provision for judicial actions

This excerpt taken from the PBR 6-K filed Mar 4, 2008.

22.1 Provision for judicial actions

Petrobras and its subsidiaries are involved in several legal actions for civil, tax, labor and environmental issues arising in the normal course of business. Based on the advice of its internal legal counsel and management’s best judgment, the Company has recorded provisions in amounts sufficient to cover losses that are considered probable. As of December 31, 2007 and 2006 these provisions are presented as follows, according to the nature of the lawsuits:

    Consolidated    Parent Company 
     
    2007    2006     2007     2006 
         
 
Social security contingencies    54.000    54.000    54.000    54.000 
         
 
Labor claims    90.022    85.813    11.905    10.409 
Tax proceedings    205.039    100.918    9.948    13.048 
Civil proceedings ( * )   248.544    204.405    186.562    167.214 
Other contingencies    70.364    122.744         
         
 
Total non-current liabilities    613.969    513.880    208.415    190.671 
         
 
Total contingencies    667.969    567.880    262.415    244.671 
         

(*) Net of Judicial Deposit - according to CVM Resolution 489/05.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki