13. Property, plant and equipment
Gathering, Treatment
Vehicles, Equipment
Transmission
and
Computer Construction
(millions)
Distribution and Storage Compression and Other
Hardware
in Progress
Total
Cost Balance, January 1, 2013 $ 924
$ 972
$ 252
$ 140
$ 14
$ 41
$ 2,343
Additions Disposals
143
62
16
9
2 –
210
442
(2)
(3)
(1)
(1)
–
(7)
Classified as assets held for sale
(4)
(6)
– –
– –
– –
–
(10)
Transfers
–
–
(180)
(180)
Balance, December 31, 2013
1,061
1,025
267
148
16
71
2,588
Additions Disposals Impairment
145
150
36
10
2 – – –
293
636
(3)
(10)
(1) (3)
(5)
(3)
(22)
– –
–
– –
–
(3)
Transfers
(10)
10
(320)
(320)
Balance, December 31, 2014
1,203
1,155
309
153
18
41
2,879
Accumulated depreciation Balance, January 1, 2013
330
330
110
63
9 2 –
– – –
842
Depreciation
25
30
9 –
8
74
Disposals
(2)
(2)
(2)
(6)
Classified as assets held for sale
(2)
(2)
–
–
–
– –
(4)
Balance, December 31, 2013
351
356
119
69
11
906
Depreciation
25
31
11
8
3 –
– – –
78
Disposals
(3)
(9)
–
(5)
(17)
Balance, December 31, 2014
373
378
130
72
14
967
Carrying amounts Balance, December 31, 2013 $ 710
$ 669
$ 148
$ 79
$
5
$ 71
$ 1,682
Balance, December 31, 2014 $ 830
$ 777
$ 179
$ 81
$
4
$ 41
$ 1,912
At December 31, 2014, as a result of a decline in natural gas liquid prices, the Corporation has incurred a $3 million impairment loss on its gas gathering and processing assets. The impairment was recognized as the carrying value of the assets exceeded the recoverable amount. The recoverable amount was the value in use determined using cash flows attributed to probable production, discounted at 6.0%, and adjusted for future market prices. The impairment loss has been recognized within net income for the year. 14. Short-term debt The Corporation’s short-term debt is unsecured. At year end, short-term debt of $299 million (2013 – $380 million) was due to the Province of Saskatchewan’s General Revenue Fund with an average interest rate of 1.0% (2013 – 1.8%).
58
Consolidated Financial Statements
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