Other non-current assets

12 Months Ended

Dec. 31, 2012

Other non-current assets [Abstract]

Other non-current assets

Note 21 –  Other non-current assets

(In US$ millions)	December 31, 2012		December 31, 2011
Other non-current assets consists of:
Deferred charges – long-term portion		74		65
Deferred tax effect of internal transfer of assets		140		149
Favorable contracts		-		2
Deferred mobilization costs – long-term portion		118		-
Other		70		18
Total other non-current assets		402		234

Deferred charges represent debt arrangement fees that are capitalized and amortized to interest expense over the life of the debt instrument.

(In US$ millions)	December 31, 2012			December 31, 2011
Debt arrangement fees		241			204
Accumulated amortization		(143	)		(113	)
Total book value		98			91
Less: Short-term portion		(24	)		(26	)
Long-term portion		74			65
Amortization for the period		30			31