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- 4.1 Financial Review
- FINANCIAL STATEMENTS
- 4.2 Consolidated Financial Statements
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4.3 Notes to the Consolidated Financial Statements
- 4.3.1 Financial Highlights
- 4.3.2 Operating Segments and Directional Reporting
- 4.3.3 Revenue
- 4.3.4 Other Operating Income and Expense
- 4.3.5 Expenses by Nature
- 4.3.6 Employee Benefit Expenses
- 4.3.7 Research and Development Expenses
- 4.3.8 Net Impairment Gains/(Losses) on Financial and Contract Assets
- 4.3.9 Net Financing Costs
- 4.3.10 Income Tax Expense
- 4.3.11 Earnings/(Loss) Per Share
- 4.3.12 Dividends Paid and Proposed
- 4.3.13 Property, Plant and Equipment
- 4.3.14 Intangible Assets
- 4.3.15 Finance Lease Receivables
- 4.3.16 Other Financial Assets
- 4.3.17 Deferred Tax Assets and Liabilities
- 4.3.18 Inventories
- 4.3.19 Trade and Other Receivables
- 4.3.20 Construction Work-In-Progress
- 4.3.21 Derivative Financial Instruments
- 4.3.22 Net Cash and Cash Equivalent
- 4.3.23 Equity Attributable to Shareholders
- 4.3.24 Borrowings and Lease Liabilities
- 4.3.25 Deferred Income
- 4.3.26 Provisions
- 4.3.27 Trade and Other Payables
- 4.3.28 Commitments and Contingencies
- 4.3.29 Financial Instruments − Fair Values and Risk Management
- 4.3.30 List of Group Companies
- 4.3.31 Investment in Associates and Joint Ventures
- 4.3.32 Information on Non-controlling Interests
- 4.3.33 Related Party Transactions
- 4.3.34 Independent Auditor’s Fees and Services
- 4.3.35 Events After End of Reporting Period
- 4.4 Company Financial Statements
- 4.5 Notes to the Company Financial Statements
- 4.6 Other information
- 4.7 Key Figures
- NON-FINANCIAL INFORMATION
- 4.8 Scope of Non-Financial Information
- 4.9 Reporting Boundaries
- 4.10 Non-Financial Indicators
- 4.11 GRI Content Index
- 4.12 Certification and Classification Tables
- 4.13 Assurance Report of the Independent Auditor
4.3.7Research and Development Expenses
Research and development expenses amounted to US$(24) million (2019: US$(24) million) and mainly relate to the internal projects ’Digital FPSO’ and Renewables development costs.
The amortization of development costs recognized in the statement of financial position is allocated to cost of sales when the developed technology is used through one or several projects. Otherwise, it is allocated to research and development expenses.