✨ Financial Disclosure
28 NOVEMBER 2011 NEW ZEALAND GAZETTE, No. 184 5349
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
27. Significant judgements / estimates
Valuation of NIGUP property
A valuation and subsequent impairment of $19.7 million was made on Transpower’s property assets. The impairment was based on a desktop valuation by Crighton Stone, registered valuers. The properties relate to those on the North Island Grid Upgrade (NIGU) route between Whakamaru and south Auckland purchased for the purposes of establishing easements and then on-selling. Some of these properties are classified as held for sale based on Transpower’s judgement that they expect a sale within 12 months. Refer to Note 13 Non current assets for more information.
Dismantling provision
An estimate and assumption made regarding future events was in relation to a dismantling provision. This provision has a balance at 30 June 2011 of $13.6 million (30 June 2010: $15.2 million). The nature and uncertainty of this provision is discussed in Note 15 Provisions.
Fair values of debt, derivatives and deposits.
A key estimate is in relation to the fair values of debt, derivatives and deposits. Fair values are determined upon discounting cash flows based upon the relevant yield curve. The yield curve is adjusted to reflect the credit spread of the counterparty to the transaction. These valuations are considered level two in the NZ IFRS three level valuation hierarchy.
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NZ Gazette 2011, No 184
✨ LLM interpretation of page content
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Related parties and key personnel compensation for Transpower New Zealand Limited
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💰 Finance & RevenueRelated parties, Key personnel, Compensation, Directors' fees, Management personnel, Defined contribution schemes, Termination payments, Financial disclosure, Electricity regulations