SaskEnergy Third Quarter Report - December 31, 2023
Financial_Statements_for_Public_Release - Q3 2023-24 - att | 1 |
Table of Contents | 2 |
Financial and Operating Highlights | 3 |
Management's Discussion and Analysis | 4 |
INTRODUCTION | 4 |
OPERATING ENVIRONMENT | 4 |
Weather and Global Variables | 4 |
Saskatchewan Supply and Demand | 5 |
Saskatchewan Natural Gas Prices | 5 |
CONSOLIDATED FINANCIAL RESULTS | 6 |
Natural Gas Sales and Purchases | 6 |
Commodity Margin | 7 |
Commodity Fair Value Adjustments | 8 |
Asset Optimization Margin | 8 |
Asset Optimization Fair Value Adjustments | 9 |
Revaluation of Natural Gas in Storage | 9 |
Revenue | 9 |
Delivery Revenue | 9 |
Transportation and Storage Revenue | 9 |
Customer Capital Contributions | 10 |
Other Expenses | 10 |
Employee Benefits | 10 |
Operating and Maintenance | 11 |
Depreciation and Amortization | 11 |
(Recovery) Loss on Trade and Other Receivables | 11 |
Net Finance Expenses | 11 |
Other net losses (gains) | 11 |
Financial_Statements_for_Public_Release - Q3 2023-24 - att | 14 |
Condensed Consolidated Financial Statements (unaudited) | 14 |
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION | 15 |
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 16 |
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | 18 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | 19 |
Notes to the ConsolidatedFinancial Statements (unaudited) | 20 |
1. GENERAL INFORMATION | 20 |
2. BASIS OF PREPARATION | 20 |
a. Statement of compliance | 20 |
b. Basis of measurement | 20 |
c. Functional and presentation currency | 21 |
d. Use of estimates and judgments | 21 |
3. SUMMARY OF ACCOUNTING POLICIES | 21 |
5. FINANCIAL AND DERIVATIVE INSTRUMENTS | 22 |
6. FINANCIAL RISK MANAGEMENT | 23 |
a. Natural gas price risk | 23 |
b. Liquidity risk | 24 |
c. Credit risk | 24 |
7. ASSETS HELD FOR SALE | 25 |
8. PROPERTY, PLANT AND EQUIPMENT | 26 |
9. LEASE LIABILITY | 26 |
10. LONG-TERM DEBT | 27 |
11. COMMITMENTS AND CONTINGENCIES | 27 |
a. Commitments | 27 |
b. Contingencies | 27 |
12. UNREALIZED MARKET VALUE ADJUSTMENTS | 28 |
13. NATURAL GAS SALES AND PURCHASES | 28 |
14. DELIVERY REVENUE | 29 |
15. TRANSPORTATION AND STORAGE REVENUE | 29 |
16. NET FINANCE EXPENSE | 30 |
Back Cover | 31 |
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