6 OCTOBER NEW ZEALAND GAZETTE 3751

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Expenditure (Schedule 1, Part 2)

12 Operating expenditure

(a) Payment for transmission charges
Transfer payments to the "Other" business for:

(b) (i) Asset maintenance: 0 0
(ii) Consumer disconnection/reconnection services: 0 0
(iii) Meter data: 0 0
(iv) Consumer-based load control services 0 0
(v) Royalty and patent expenses: 0 0
(vi) Avoided transmission charges on account of own generation 0 0
(vii) Other goods and services not listed in (i) to (vi) above 0 0
(viii) Total transfer payment to the "Other" business 0 0

(c) Expense to entities that are not related parties for:
(i) Asset maintenance: 560 311
(ii) Consumer disconnection/reconnection services: 0 0
(iii) Meter data: 0 0
(iv) Consumer-based load control services 0 0
(v) Royalty and patent expenses: 0 0
Total of specified expenses to non-related parties (sum of (i) to (v)) 560 311

(d) Employee salaries, wages and redundancies: 266 272

(e) Consumer billing and information system expense 0 0

(f) Depreciation on:
(i) System fixed assets: 552 566
(ii) Other assets not listed in (i) 23 40
(iii) Total depreciation 575 606

(g) Amortisation of:
(i) Goodwill: 0 0
(ii) Other intangibles: 0 611
(iii) Total amortisation of intangibles 0 611

(h) Corporate and administration: 424 -146

(i) Human resource expenses: 0 0

(j) Marketing/advertising: 0 0

(k) Merger and acquisition expenses: 0 0

(l) Takeover defence expenses: 0 0

(m) Research and development expenses: 0 0

(n) Consultancy and legal expenses: 85 60

(o) Donations: 0 0

(p) Directors' fees: 52 45

(q) Auditors' fees:
(i) Audit fees paid to principal auditors: 13 6
(ii) Audit fees paid to other auditors: 0 0
(iii) Fees paid for other services provided by principal and other auditors: 4 4
(iv) Total auditors' fees: 17 10

(r) Costs of offering credit:
(i) Bad debts written off: 0 0
(ii) Increase in estimated doubtful debts: 0 0
(iii) Total cost of offering credit: 0 0

(s) Local authority rates expense 9 12

(t) AC loss-rentals (distribution to retailers/customers) expense: 0 0

(u) Rebates to consumers due to ownership interest: 0 0

(v) Subvention payments: 0 0

(w) Unusual expenses: 0 0

(x) Other expenditure not listed in (a) to (w) 0 0

13 Total operating expenditure 3,785 3,757

14 Operating surplus before interest and income tax 3,122 3,669

15 Interest expense

(a) Interest expense on borrowings 65 63

(b) Financing charges related to finance leases 0 0

(c) Other interest expense 0 0

(d) Total interest expense 65 63

16 Operating surplus before income tax 3,057 3,606

17 Income tax 1,180 1,522

18 Net surplus after tax 1,877 2,084

Transfer payments for the "Other" business for 2002, column 1 $1,797 and column 2 $1,684.