119
118
Bahri Annual Report
Bahri Annual Report
Consolidated Financial Statement
Consolidated Financial Statement
11. Deferred Dry-Docking Costs, Net
8. Inventories
Deferred dry-docking costs, net comprise the following at December 31:
Inventories on board of ships comprise the following at December 31:
2016
2015
2016
2015
700,999
Total dry-docking costs
503,937
186,718
Fuel
150,274
(459,533)
Accumulated amortization
(377,351)
47,676
Lubricants
47,689
241,466
126,586
6,281
Others
5,647
240,675
203,610
Movement in the dry-docking costs is as follows:
9. Accrued Bunker Subsidy, Net
2016
2015
Accrued bunker subsidy, net comprise the following at December 31:
126,586
Balance at the beginning of the year
122,166
2016
2015
197,062
Additions during the year
57,790
175,585
Accrued bunker subsidy
218,224
(82,182)
Amortization during the year
(53,370)
(97,477)
Provision for doubtful bunker subsidy
(67,812)
241,466
Balance at the end of the year
126,586
78,108
150,412
12. Intangible Assets, Net
10. Investment in an Associated Company
Intangible assets, net comprise the following at December 31:
The movement of investment in the associated company for the year ended December 31 is as follows:
2016
2015
2016
2015
849,464
Balance at the beginning of the year
903,501
1,027,941
Balance at the beginning of the year
905,758
(52,732)
Amortization during the year
(54,037)
147,044
Group’s share in results of an associated company*
184,683
(24,668)
Disposals during the year
-
(51,137)
Dividends received during the year
(62,500)
772,064
Balance at the end of the year
849,464
1,123,848
Balance at the end of the year
1,027,941
* The Company’s share in the result of Petredec Limited Company operations for the year 2016 includes unrealized gains of SR 10.78 million (2015 unrealized losses: SR 2.35 million) arising from commodity swaps.
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