β¨ Financial Statements
28 NOVEMBER 2011 NEW ZEALAND GAZETTE, No. 184 5317
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
3. Deferred income
| LINES BUSINESS | 2011 | 2010 |
|---|---|---|
| $M | $M | |
| New investment agreements | -12.1 | 13.3 |
| Transmission realignment | 21.5 | 19.5 |
| Other | 15.4 | 1.6 |
| Total deferred income | 24.8 | 34.4 |
New investment agreements
New investment agreements (or customer investment contracts) are contracts entered into with customers to build grid connection assets. Where the customer pays the cost to build the asset upfront, the revenue is recognised over the contract period. Related imputed interest expense is based on the rate of return in the year the payment was received.
Transmission realignment
The Transpower Lines Business has carried out some work on transmission line assets consisting of undergrounding and realignment in respect of a property development. The revenue received is being recognised over the life of the related transmission assets.
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β¨ LLM interpretation of page content
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Deferred Income for Transpower New Zealand Limited
(continued from previous page)
π° Finance & RevenueDeferred Income, Financial Statements, Transpower, Lines Business
NZ Gazette 2011, No 184