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| Subject: ERG acquired economic benefits settlement of the ERG Motorola Alliance/ expensed | |
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Author: anonymous |
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Date Posted: 03:37:56 11/18/02 Mon Project contract costs include engineering and project management costs on contracts of significant value and duration. ------------------------------------------------------------ During the previous year, ERG acquired economic benefits arising from the settlement of the ERG Motorola Alliance. Both ERG and Motorola agreed to restructure the nature of the Alliance so that ERG assumed responsibility for the transit business. The settlement payment amounted to $46,360,000 of which $35,127,000 has been included in project contract costs and identified as costs which will be recovered against project revenue streams. The amortisation of these costs will be expensed over the period of the operating contracts (refer to note 48). ----------------------------------------------------------- [ Next Thread | Previous Thread | Next Message | Previous Message ] |