Vector Annual Report 2023

10. Interest costs (net)

2023 $M

2022 $M

NOTE

152.9

Interest expense

114.0

9.4

Amortisation of finance costs

8.3

(7.1) (5.8) (6.0)

Capitalised interest

(5.1) (3.8) (6.5)

Interest income

Unwinding of discount of contingent consideration

6

1.6

Interest on leases

14.3

1.3

Unwinding of discount of decommissioning provisions Impact of change in discount rate on decommissioning provisions

0.7

19

0.7

19

(4.2)

Total

145.7

104.7

Policies

Interest costs (net) include interest expense on borrowings and interest income on funds invested which are recognised using the effective interest rate method.

Capitalised interest

Vector has capitalised interest to PPE and software intangibles while under construction at an average rate of 4.2% per annum (2022: 3.4%).

11. Trade and other receivables

2023 $M

2022 $M

NOTE

Current Trade receivables Interest receivable

91.5 15.6

60.9 10.5 12.3

9.0 1.5 2.0 4.7

Prepayments

Deferred consideration

Other taxes and duties receivable

3.3 2.4

Other

Balance at 30 June

124.3

89.4

Non-current Deferred consideration Other contract receivables

2.9 1.6 4.5

67.4 67.4

Balance at 30 June

74

Vector Annual Report 2023

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