Notes to the Consolidated Financial Statements
23. SASKATCHEWAN TAXES
(millions)
2020
2019
$
12
Corporate capital tax Property taxes and other
$
11
4
4
$
16
$
15
24. NET FINANCE EXPENSES
(millions)
2020
2019
$ $
4 4
Debt retirement funds earnings
$ $
3 3
Finance income
(4)
Interest expense on short-term debt Interest expense on long-term debt Unwinding of discount on provisions
(3)
(53)
(50)
(5)
(4)
3
Borrowing costs capitalized to qualifying assets
2
(59)
Finance expenses
(55) (52)
$
(55) $
Net finance expenses
Borrowing costs were capitalized to qualifying assets using the weighted average cost of debt of 3.8 per cent during the period (2019 - 4.2 per cent). 25. OTHER GAINS AND LOSSES
(millions)
2020
2019
$
(16) $
Net (loss) gain on disposal of assets Net (loss) gain on impairment of assets
6
(5)
12
-
Other net losses
(7)
$
(21) $
11
Geological information on the Corporation’s storage expansion plans near Regina did not meet expectation and a loss relating to seismic and test hole activity was realized in 2020. In addition, a permanent impairment loss was realized on natural gas inventory when it was determined that deliverability at one of the Corporation’s storage facilities was not able to produce all the gas from the facility before the sites planned decommissioning date. 26. RELATED PARTY TRANSACTIONS Balances and transactions between SaskEnergy and its wholly owned subsidiaries, which are related parties of SaskEnergy, have been eliminated upon consolidation and are not disclosed in this note. Details of transactions between the Corporation and other related parties are disclosed below. a. Transactions with key management personnel Key management personnel include directors and executive officers. The compensation paid to key management for employee services is as follows:
(millions)
2020
2019
$
3
$
Short-term benefits
3
p.81
Made with FlippingBook Ebook Creator