Holy crap I agree! I wasn't going to bother reading it, the...

Holy crap I agree! I wasn't going to bother reading it, the announcement seems so casual, but on reading it a couple of times I get this:

CPB were pursuing $1.15bn in contract assets. At the end of the day, they were only awarded $78m, less $35m counterclaim, so approx $43m net. So a loss of over $1bn! They then casually say this will be offset by a $675m provision (was this provision specifically for this claim, I hope so!), and gains on the Thiess sale. If we assume best case scenario that the entire $675m provision was for this, which I'm not sure that it is, since it says "is expected to be offset by some of the existing $675m provision", it is still a $400m loss on this asset just announced! Unless I'm missing something. Wow.