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Retrieving Data

Note 23: Property, Plant and Equipment

GROUP

PARENT

2014

$000

2013

$000

2014

$000

2013

$000

Generation Assets

Balance at beginning of year

Fair value

2,482,456

2,488,312

1,880,991

1,881,000

Cost

8,646

-

7,001

-

Capital work in progress

196,651

19,474

26,227

14,721

Accumulated depreciation

(49,440)

-

(15,855)

-

 

 

2,638,313

2,507,786

1,898,364

1,895,721

Additions at cost

 

308,916

188,034

10,881

18,509

Depreciation

(52,146)

(49,898)

(16,448)

(16,025)

Disposals at net book value

(331)

(9)

(331)

(9)

Foreign exchange movements

(77,615)

(7,778)

-

-

Revaluations/transfers/impairments

(3,513)

178

(3,514)

168

Balance at end of year

Fair value

2,436,085

2,482,456

1,880,991

1,880,991

Cost

255,297

8,646

13,931

7,001

Capital work in progress

220,825

196,651

26,137

26,227

Accumulated depreciation

 

(98,583)

(49,440)

(32,107)

(15,855)

 

 

2,813,624

2,638,313

1,888,952

1,898,364

Metering Equipment

Balance at beginning of year

Cost

79,791

76,642

79,791

76,642

Accumulated depreciation

(47,684)

(42,226)

(47,684)

(42,226)

 

 

32,107

34,416

32,107

34,416

Additions at cost

741

3,138

741

3,138

Depreciation

(5,707)

(5,501)

(5,707)

(5,501)

Disposals at net book value

-

-

-

-

Transfers

66

54

66

54

Balance at end of year

Cost

80,532

79,791

80,532

79,791

Accumulated depreciation

(53,325)

(47,684)

(53,325)

(47,684)

27,207

32,107

27,207

32,107

Other Freehold Buildings

Balance at beginning of year

Cost

13,931

14,011

11,220

11,326

Accumulated depreciation

(3,961)

(3,698)

(3,785)

(3,553)

 

 

9,970

10,313

7,435

7,773

Additions at cost

715

126

659

100

Depreciation

 

(287)

(266)

(256)

(235)

Disposals at net book value

-

(25)

-

(25)

Transfers

(4)

(178)

(3)

(178)

Balance at end of year

Cost

14,644

13,931

11,878

11,220

Accumulated depreciation

 

(4,250)

(3,961)

(4,043)

(3,785)

10,394

9,970

7,835

7,435

GROUP

PARENT

 

 

2014

$000

2013

$000

2014

$000

2013

$000

Other Freehold Land

Balance at beginning of year

Cost

16,709

16,710

7,554

7,555

Additions at cost

287

1

283

1

Disposals at cost

-

-

-

-

Foreign exchange movements

(5)

-

-

-

Transfers

(3)

(2)

(2)

(2)

Balance at end of year

Cost

16,988

16,709

7,835

7,554

Other Plant and Equipment

Balance at beginning of year

Cost

35,137

29,828

27,588

23,236

Accumulated depreciation

(15,648)

(14,068)

(15,029)

(13,708)

19,489

15,760

12,559

9,528

Additions at cost

3,477

6,447

2,849

5,357

Depreciation

(3,254)

(2,392)

(2,846)

(2,137)

Disposals at net book value

(184)

(159)

(184)

(147)

Foreign exchange movements

 

(860)

(115)

-

-

Transfers

(262)

(52)

(260)

(42)

Balance at end of year

Cost

36,797

35,137

29,564

27,588

Accumulated depreciation

(18,391)

(15,648)

(17,446)

(15,029)

18,406

19,489

12,118

12,559

Total

Balance at beginning of year

Fair value

2,482,456

2,488,312

1,880,991

1,881,000

Cost

154,214

137,191

133,154

118,759

Capital work in progress

196,651

19,474

26,227

14,721

Accumulated depreciation

(116,733)

(59,992)

(82,353)

(59,487)

 

2,716,588

2,584,985

1,958,019

1,954,993

Additions at cost

314,136

197,746

15,413

27,105

Depreciation

(61,394)

(58,057)

(25,257)

(23,898)

Disposals at net book value

(515)

(193)

(515)

(181)

Foreign exchange movements

(78,480)

(7,893)

-

-

Revaluations/transfers/impairments

(3,716)

-

(3,713)

-

Balance at end of year

Fair value

 

2,436,085

2,482,456

1,880,991

1,880,991

Cost

 

404,258

154,214

143,740

133,154

Capital work in progress – generation assets

 

220,825

196,651

26,137

26,227

Accumulated depreciation

 

(174,549)

(116,733)

(106,921)

(82,353)

 

 

2,886,619

2,716,588

1,943,947

1,958,019

If generation assets were stated on an historical cost basis, the amounts would be as follows:

Generation assets (at cost)

 

1,726,189

1,510,333

1,003,214

992,243

Generation assets under construction (at cost)

 

220,825

196,651

26,137

26,227

Generation assets accumulated depreciation

 

(409,891)

(359,824)

(183,776)

(167,328)

 

 

1,537,123

1,347,160

845,575

851,142

Generation assets include freehold land and buildings which are not separately identifiable from other generation assets. Generation assets were independently revalued, using a discounted cash flow methodology, as at 31 March 2012 to their estimated market value as assessed by Deloitte Corporate Finance. See note 39 for a description of the inputs used.

Included in the capital work in progress as at 31 March 2014 are capitalised borrowing costs of $8,287,000 (2013: $4,807,000).