New Zealand Gazette – 2013 – No. 155

Page 4366

✨ Transpower Financial Judgements

4366 NEW ZEALAND GAZETTE, No. 155 25 NOVEMBER 2013

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

27. Significant judgements / estimates

Regulation and the NIGU project
The NIGU project is forecast to exceed its initial approved amount by approximately $70 million. The board have made the judgement that no impairment is required in the 2013 financial statements. Note 23, Contingencies contains further details on this item.

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.

Non current assets
Transpower has exercised judgement, with assistance from independent engineers, in determining the useful life of property, plant and equipment and finite life intangible assets.

Gazette.govt.nz — NZ Gazette 2013, No 155

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Lines Business Entities (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsCorporate Structure, Subsidiaries, Transpower, Finance, Disclosure

💰 Significant Judgements and Estimates

Domain💰 Finance & Revenue
KeywordsFinancial Statements, NIGU Project, Fair Values, Debt, Derivatives, Deposits, Non-Current Assets

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