✨ Financial Statements
VECTOR LIMITED
ELECTRICITY LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2007
14. OTHER LIABILITIES
| 2007 | 2006 | |
|---|---|---|
| $000 | $000 | |
| Current | 238 | 832 |
| Non-current | 73 | 315 |
| Total | 311 | 1,147 |
15. BORROWINGS
Borrowings are a notional apportionment of the Vector group debt facilities including bank loans, a working capital facility, medium term notes - floating rate A$, capital bonds, fixed interest rate bonds, private placement senior notes and NZ floating rate notes. All borrowings are unsecured with all bank loans and medium term notes being subject to negative pledge arrangements.
The interest cost on the borrowings has been calculated using a weighted average interest rate of 7.47% applicable to the Vector group.
Borrowings are classified between current and non-current dependent on expected repayment dates. Borrowings are subject to various lending covenants. These have all been met for the years ended 31 March 2007 and 31 March 2006.
A detailed disclosure of the Vector group’s borrowings is available under Note 29 of the Vector group’s annual report for the year ended 30 June 2007.
16. COMMITMENTS
The following amounts have been committed to but are not recognised in the financial statements.
| 2007 | 2006 | |
|---|---|---|
| $000 | $000 |
Capital expenditure commitments
Estimated capital expenditure contracted for at balance date but not provided
| | 37,677 | 47,085 |
Operating lease commitments
Within one year | 2,615 | 1,889 |
One to two years | 2,367 | 1,784 |
Two to five years | 4,509 | 4,934 |
Beyond five years | 845 | 1,117 |
| Total | 10,336 | 9,724 |
The majority of the operating lease commitments relate to premises leases. These, in the main, give the lessee the right to renew the lease.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 39
Gazette.govt.nz —
NZ Gazette 2008, No 39
✨ LLM interpretation of page content
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Notes to the Financial Statements for Vector Limited
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Statements, Liabilities, Borrowings, Commitments, Vector Limited