Accounting 101: you only depreciate an asset that is in service.
So again - back to my cracking a filing comment a few posts before - you'd note that GE2 doesn't go into service until 2013. At which point, you'd start depreciating the asset. Until then, it's capitalize away.
That's true, but what about all the hundreds of millions they spent on capex in the previous years? Also, they are capitalizing interest, boosting their EPS. The company has not generated any cash in the last 5 years, maybe longer. This looks like a Ponzi scheme.