Note 9 - Receivables

Parent company

Consolidated

12/31/2016

12/31/2015

(Amounts in USD 1,000)

12/31/2016

12/31/2015

Long-term receivables

4,136

3,997

Employee loans, see Note 19

4,136

3,997

55,732

21,870

Intercompany receivables

-

-

-

-

Loan to Group of Parent Company

-

17,069

-

-

Other long term receivables

12,924

1,462

-

-

Convertible loan to Customer (1)

14,107

29,070

59,868

25,867

Total long-term receivables

31,168

51,598

12/31/2016

12/31/2015

Other short-term receivables

12/31/2016

12/31/2015

278

4

Prepaid expenses

51,060

18,387

-

-

Unbilled revenue

55,439

11,549

-

-

Outstanding insurance claims (2)

3,489

7,438

-

-

Prepaid income taxes and other taxes

2,397

2,571

-

-

VAT

91

565

-50

-1,620

Intercompany receivables

-

-

6,348

5,786

Other short-term receivables

8,500

20,148

6,298

4,169

Total other short-term receivables

120,977

60,657

(1) The sale of “Siem Daya 1” was partly financed by a Seller’s credit from Siem Offshore Inc. in the form of a Convertible Bond with four years duration. Following an impairment test of the Convertible Bond, an impairment at USD 14.0 million was recorded.

(2) Outstanding insurance claims refer to breakdown expenses qualifying for insurance cover. The amount is less own deduction.

Board Of Directors

Financial Statements

Notes