AECON GROUP INC 47 9 UNBILLED REVENUE AND DEFERRED REVENUE Costs incurred and estimated earnings ie earned revenue net of billings on uncompleted contracts are presented in the consolidated balance sheets under the following captions December 31 December 31 2012 2011 Earned revenue on projects to date 7218998 5457960 Less Billings on projects to date 7029050 5316499 Net balance sheet position 189948 141461 Reported as Unbilled revenue 331547 249557 Deferred revenue 141599 108096 189948 141461 10 INVENTORIES December 31 December 31 2012 2011 Raw materials and supplies 8340 8365 Finished goods 22678 22134 31018 30499 11 LONGTERM FINANCIAL ASSETS December 31 December 31 2012 2011 Note Longterm receivables 1321 15 Income tax deposit 17c 5414 Commitment fees 1951 1648 Other 1534 1427 4806 8504 12 CONSTRUCTION PROJECTS ACCOUNTED FOR USING THE EQUITY METHOD The Company performs some construction projects through nonconsolidated entities The Companys participation in construction project entities where the Company exercises signifcant infuence ie associates but does not control or jointly control the entity is accounted for using the equity method The Companys share of assets liabilities revenue and expenses of construction project entities accounted for using the equity method is as follows December 31 December 31 2012 2011 Assets 35231 25337 Liabilities 7860 7406 Net investment in construction projects accounted for using the equity method 27371 17931 Revenue and expenses for the year ended were as follows December 31 December 31 2012 2011 Revenue 100063 84253 Expenses 85623 70195 Share of profts before income taxes 14440 14058