✨ Financial Statements and Disclosures
27 NOVEMBER 2009 NEW ZEALAND GAZETTE, No. 172 4195
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
30. Subsequent events
The Directors are not aware of any matter or circumstance since the end of the financial year that
has significantly or may significantly affect the operations of the Lines Business.
31. Significant estimates or judgements
Judgements
No significant judgements were made during the year.
Estimations
A key estimate and assumption made regarding future events was in relation to
a dismantling provision. This provision has a balance at 30 June 2009 of $17.3 million.
The nature and uncertainty on this provision is discussed in Note 17 Provisions.
Transpower has followed the ‘Commerce Commission Electricity Information Disclosure
Requirements’ in preparing these financial statements. Full financial statements for the
lines business are not prepared in the ordinary course of business, being solely a
regulatory requirement. Certain judgements have been made around the underlying cost
drivers for the ACAM methodology. Generally Transpower has used F.T.E’s (full time
equivalents) as the cost allocation driver.
A significant estimate and judgement made in applying Transpower Finance’s accounting
policies was in relation to the fair market valuations of debt and derivatives. In determining the
fair market valuations, the swap curve was used to perform the discounted cash flow
calculations. Additionally, for the fair market valuations of debt and derivatives an assessment
of the credit risk valuation component was made. This credit risk component was assessed as a
$70 million gain to the income statement. Further information is contained within Note 1 and
Note 6.
32. Other items requiring specific disclosure under the
Electricity (Information Disclosure) Regulations 2004
| | LINES BUSINESS |
| :--- | :--- | :--- |
| | 2009 | 2008 |
| | $000 | $000 |
| Assets | | |
| Goodwill | - | - |
| Total intangible assets | 46,535 | 17,060 |
| Total tangible assets | 2,659,919 | 2,508,324 |
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NZ Gazette 2009, No 172
✨ LLM interpretation of page content
🏢
Reconciliation of Net Profit with Net Cash Flow
(continued from previous page)
🏢 State Enterprises & InsuranceFinancial Instruments, Depreciation, Amortisation, Deferred Tax, Working Capital, Cash Flow
💰 Subsequent Events and Significant Estimates
💰 Finance & RevenueFinancial Statements, Judgements, Estimations, Provisions, Debt Valuation, Credit Risk
💰 Other Items Requiring Specific Disclosure
💰 Finance & RevenueFinancial Disclosure, Assets, Intangible Assets, Tangible Assets, Electricity Regulations