Notes to the Consolidated Financial Statements
24. SASKATCHEWAN TAXES
(millions)
2021
2020
$
12
Corporate capital tax Property taxes and other
$
12
4
4
$
16
$
16
25. NET FINANCE EXPENSES
(millions)
2021
2020
$ $
4 4
Debt retirement funds earnings
$ $
4 4
Finance income
(1)
Interest expense on short-term debt Interest expense on long-term debt Unwinding of discount on provisions
(4)
(56)
(53)
(4)
(5)
2
Borrowing costs capitalized to qualifying assets
3
(59)
Finance expenses
(59) (55)
$
(55) $
Net finance expenses
Borrowing costs were capitalized to qualifying assets using the weighted average cost of debt of 3.4 per cent during the period (2020 - 3.8 per cent). 26. OTHER LOSSES
(millions)
2021
2020
$
(4) $
Net loss on disposal of assets Net loss on impairment of assets
(1 6)
-
(5)
1
Other net gains
-
$
(3) $
(21)
Discontinued projects of $4 million were recognized as losses on disposal of assets. Other net gains of $1 million consist of a $2 million gain recognized through decommissioning liability adjustments implemented based on a third party consultant review, offset by a $1 million permanent impairment loss on natural gas inventory. It was determined that deliverability at one of the Corporation’s storage facilities was not able to produce all of the natural gas inventory from the facility. 27. RELATED PARTY TRANSACTIONS Balances and transactions between SaskEnergy and its wholly owned subsidiaries, which are related parties of SaskEnergy, have been eliminated upon consolidation and are not disclosed in this note. Details of transactions between the Corporation and other related parties are disclosed below.
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