✨ Financial Statement
4342 NEW ZEALAND GAZETTE, No. 155 25 NOVEMBER 2013
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
12. Other financial assets
| LINES BUSINESS | ||
|---|---|---|
| 2013 | 2012 | |
| $M | $M |
Non current
Property loan assets | 3.9 | 3.9 |
Fonterra shares | 1.5 | 3.8 |
Total non current financial assets | 5.4 | 7.7 |
Property loan assets
The Transpower Lines Business has a property portfolio as a result of the North Island Grid Upgrade (NIGU) project. Properties were purchased between Whakamaru and South Auckland for the purposes of establishing easements and then on-selling. As part of the selling programme, the Transpower Lines Business has two vendor finance loan assets. These loan assets are carried at amortised cost. No impairment is expected.
Fonterra shares
As a result of the NIGU property portfolio, the Transpower Lines Business holds Fonterra shares. When dairy farms are purchased, Fonterra shares are often purchased to enable the continued operation of the dairy farm. These shares are classified as available for sale because they do not fall into any other financial instruments category.
Next Page →
NZ Gazette 2013, No 155
✨ LLM interpretation of page content
🏭
Transpower New Zealand Limited Statement of Accounting Policies
(continued from previous page)
🏭 Trade, Customs & IndustryInventories, Financial Statement, Substations, Transmission Lines, Communications