New Zealand Gazette – 1997 – No. 165

Page 3916

✨ Financial Statements



3916 NEW ZEALAND GAZETTE No. 165

TRANSPOWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1997

15. RETAINED EARNINGS

1997 1996
$000 $000
Balance at the beginning of the year 74,976 30,751
Earnings after tax 92,896 96,395
Retained earnings available for appropriation 167,872 127,146
Transfer from the asset revaluation
reserve* (888) 10,488
Dividends paid or payable (64,946) (62,658)
Balance at the end of the year 102,038 74,976

Share of associate entity's retained earnings
Balance at the beginning of the year (498) -
Share of post tax deficit for the year - (498)
Balance of post tax deficit for the prior year (115) -
Balance at the end of the year (613) (498)
Total Retained Earnings at the end of the year 101,425 74,478
  • The revaluation increment/(decrement) in respect of fixed assets disposed of during the year is
    transferred from the asset revaluation reserve to retained earnings upon the assets' disposal.

16. CAPITAL COMMITMENTS

Capital commitments in respect of contracts for capital expenditure:

1997 1996
Within one year 19,965 38,304
One to two years 4,615 701
Two to five years 50 95
Total Capital Commitments 24,630 39,100

17. OPERATING LEASE COMMITMENTS

Commitments in respect of non-cancelable operating leases payable:

1997 1996
Within one year 1,842 1,662
One to two years 1,607 1,639
Two to five years 4,093 4,345
Later than five years 2,363 3,652
Total Operating Lease Commitments 9,905 11,298


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🏭 Notes to the Financial Statements (continued from previous page)

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Financial Statements, Retained Earnings, Capital Commitments, Operating Lease Commitments, Transpower New Zealand Limited