Notes to the financial statements
13. Property, plant and equipment (PPE)
LAND, BUILDINGS AND IMPROVE- MENTS $M
ELECTRICITY AND GAS METERS $M
COMPUTER AND TELCO EQUIPMENT $M
OTHER PLANT AND EQUIPMENT $M
DISTRIBUTION SYSTEMS $M
CAPITAL WORK IN PROGRESS $M
TOTAL $M
Carrying amount 30 June 2021
3,444.1
640.7
188.8 231.3
91.9
168.9 313.0
91.4 4,625.8 91.4 6,760.8
Cost
4,755.2 1,161.8
208.1
Accumulated depreciation
(1,311.1)
(521.1)
(42.5)
(116.2)
(144.1)
–
(2,135.0)
Additions Transfers Disposals
–
–
–
–
–
499.7
499.7
297.8
132.7
2.7
6.3
38.1
(477.6)
–
(6.5)
(1.7)
–
–
(0.8)
– –
(9.0)
Depreciation for the period
(135.6)
(75.8)
(3.3)
(7.7)
(12.0)
(234.4)
Carrying amount 30 June 2022
3,599.8
695.9
188.2 234.0
90.5
194.2 350.0
113.5 4,882.1 113.5 7,226.4
Cost
5,029.7 1,286.6
212.6
Accumulated depreciation
(1,429.9)
(590.7)
(45.8)
(122.1)
(155.8)
–
(2,344.3)
–
–
–
–
–
608.9
608.9
Additions Transfers Disposals
365.8
171.4
4.8
12.5
8.5
(563.0)
–
(7.5)
(0.9)
–
–
(0.2)
–
(8.6)
Sale of discontinued operations
–
(819.1)
(0.1) (3.4)
(0.8) (7.9)
(54.3) (12.7)
(7.6)
(881.9) (215.2)
(143.9)
(47.3)
–
Depreciation for the period
Carrying amount 30 June 2023
3,814.2 5,372.0 (1,557.8)
– – –
189.5 238.4
94.3
135.5 303.8
151.8 4,385.3 151.8 6,282.0
216.0
Cost
(48.9)
(121.7)
(168.3)
–
(1,896.7)
Accumulated depreciation
Policies
PPE is initially measured at cost, and subsequently stated at cost less depreciation and any impairment losses. Cost may include: — Consideration paid on acquisition — Costs to bring the asset to working condition — Materials used in construction — Direct labour attributable to the item — Interest costs attributable to the item — A proportion of directly attributable overheads incurred — If there is a future obligation to dismantle and/or remove the item, the costs of doing so Capitalisation of costs stops when the asset is ready for use. Subsequent expenditure that increases the economic benefits derived from the asset is capitalised. Uninstalled assets are stated at the lower of cost and estimated recoverable amount. Depreciation commences when an asset becomes available for use. Depreciation of PPE, other than freehold land and capital work in progress, is calculated on a straight-line basis and expensed over the useful life of the asset. Useful lives are reviewed regularly and adjusted as appropriate for the revised expectations. Estimated useful lives (years) are as follows:
Buildings
40 – 100
Distribution systems
5 – 100 Computer and telco equipment 5 – 20 Other plant and equipment
2 – 50 2 – 55
Leasehold improvements
79
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