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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