16. Trade and other payables
2019 $M
2018 $M
Current Trade payables
154.6
158.6
18.0
Employee benefits Finance leases Interest payable Balance at 30 June
15.6
–
0.3
27.5
39.6
200.1
214.1
Non-current Finance leases
–
0.2
1.8 1.8
Other non-current payables
–
Balance at 30 June
0.2
Other payables
Vector accrues employee benefits which remain unused at balance date, and amounts expected to be paid under short-term cash bonus plans.
17. Provisions
PROVISION FOR DISTRIBUTION TO CUSTOMERS $M
DECOM MISSIONING PROVISIONS $M
OTHER $M
TOTAL $M
Balance 1 July 2018
16.6
22.6
7.8 6.5
47.0 18.1
8.8
2.8 2.0
Additions
–
–
2.0
Unwinding of discount
(16.6)
– –
(4.3) (1.4)
(20.9)
Payments
–
(1.4)
Reversed to profit or loss Balance at 30 June 2019
8.8
27.4
8.6
44.8
Comprising: Current Non-current
8.8
–
8.6
17.4 27.4
–
27.4
–
Policies
A provision is recognised where the likelihood of a resultant liability is more probable than not, and the amount required to settle the liability can be reliably estimated.
Decommissioning
The decommissioning provisions represent the present value of the future expected costs for dismantling the group’s gas treatment and cogeneration plants situated at Kapuni and depot assets situated at various regions in New Zealand. Timing of economic outflows represents management’s best estimate of the end of the useful life of the plant and associated assets. These provisions comprise amounts that may be required to be utilised within one year or a longer period dependent on ongoing negotiations with third parties involved. There are currently no foreseeable uncertainties which would be reasonably expected to lead to material changes in the amounts provided.
Other provisions
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