✨ Financial Statements
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NEW ZEALAND GAZETTE, No. 184
28 NOVEMBER 2011
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
14. Trade and other payables
| LINES BUSINESS | ||
|---|---|---|
| 2011 | 2010 | |
| $M | $M | |
| Trade creditors | 143.7 | 81.4 |
| Collateral held | - | 20.6 |
| Employee entitlements | 8.3 | 6.6 |
| Current portion of external finance leases | 0.2 | 0.1 |
| Total trade and other payables | 152.2 | 108.7 |
The Transpower Lines Business has Collateral Support Agreements (CSA) with certain counterparties with whom the Lines Business holds derivatives. At 30 June 2011, the Lines Business has three such agreements but no collateral was held (30 June 2010: $20.6 million of collateral held). Also, the Lines Business did not post any collateral (2010: none). Collateral is required when the counterparty\'s (or the Lines Business\'s) exposure breaches the maximum exposure threshold dictated by the CSA, based on fair values and credit ratings. The amount of collateral is calculated daily and returned / posted as required.
Refer to Note 17 Debt, financial instruments and risk management (section iv Credit risk) for more information.
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NZ Gazette 2011, No 184
✨ LLM interpretation of page content
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Impairment for Transpower New Zealand Limited
(continued from previous page)
💰 Finance & RevenueTrade payables, Collateral Support Agreements, Employee entitlements, Finance leases, Derivatives, Credit risk