✨ Financial Statements Notes
4048 NEW ZEALAND GAZETTE No. 170
Electricity Corporation of New Zealand Limited
Notes to the Financial Statements
9. Fixed assets
| 1999 | 1998 | |
|---|---|---|
| $M | $M |
Generation plant (including land and buildings)
Cost | 3,198 | 3,252 |
Less: Accumulated depreciation | 304 | 262 |
Book value | 2,894 | 2,990 |
Other freehold land
Cost | 14 | 15 |
Other freehold buildings
Cost | 15 | 15 |
Less: Accumulated depreciation | 4 | 3 |
Book value | 11 | 12 |
Capital work in progress
Cost | 223 | 215 |
Other plant and equipment
Cost | 83 | 82 |
Less: Accumulated depreciation | 54 | 51 |
Book value | 29 | 31 |
Total fixed assets
Cost | 3,533 | 3,579 |
Less: Accumulated depreciation | 362 | 316 |
Total book value | 3,171 | 3,263 |
The aggregate of the latest available Government valuations of other freehold land is $17 million (1998 $35 million). Separate valuations of buildings are not available, but the aggregate valuation shown above would not differ materially from net current values.
10. Current liabilities
| 1999 | 1998 | |
|---|---|---|
| $M | $M |
Accounts payable | 161 | 116 |
Taxation payable | 54 | 15 |
Accrued personnel costs | 9 | 7 |
Loans repayable within one year | 108 | 134 |
Other current liabilities | 60 | 76 |
Total current liabilities | 392 | 348 |
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VUW Te Waharoa —
NZ Gazette 1999, No 170
NZLII —
NZ Gazette 1999, No 170
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Electricity Corporation of New Zealand Limited Financial Notes
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🏗️ Infrastructure & Public WorksFixed assets, Depreciation, Financial statements, Comparative figures