Notes to the Consolidated Financial Statements (unaudited)
16.
NET FINANCE EXPENSE
For the Three Months Ended December 31,
For the Nine Months Ended December 31,
2022
2023
2022
2023
(millions)
$
- -
$
1 1
$
Debt retirement funds earnings
$
1 1
1 1
Finance income
(3)
(8)
Interest expense on short-term debt Interest expense on long-term debt
(3)
(5)
(49)
(16)
(16)
(46)
-
1
Bank interest
-
-
(2)
(5)
Unwinding of discount on provisions
(1)
(4)
-
1
Borrowing costs capitalized to qualifying assets
-
-
(21) (21)
(60) (59)
Finance expenses
(20) (19)
(55) (54)
$
$
Net finance expenses
$
$
Borrowing costs were capitalized to qualifying assets using the weighted average cost of debt of 3.9 per cent during the period (December 31, 2022 – 3.6 per cent).
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