VECTOR ANNUAL REPORT 2021 /
Notes to the Financial Statements
10. Trade and other receivables continued Expected credit losses
In assessing credit losses for trade receivables, the group applies the simplif ied approach and records lifetime expected credit losses (“ECLs”) on trade receivables. The group considers both quantitative and qualitative inputs. Quantitative data includes past collection rates, industry statistics, ageing of receivables, and trading outlook. Qualitative inputs include past trading history with the group. Lifetime ECLs result from all possible default events over the expected life of a trade receivable. The group considers the probability of default upon initial recognition of the trade receivable, based on reasonable and available information on the group’s customers and groups of customers. The group’s trade receivables are monitored in two groups: business customers, and mass market residential customers. The group’s customer acceptance process includes a check on credit history, prof itability, and the customer’s external credit rating if available. Different levels of sale limits are also imposed on customer accounts by nature.
11. Intangible assets
CAPITAL WORK IN PROGRESS $M
CUSTOMER INTANGIBLES $M
TRADE NAMES $M
EASEMENTS $M
SOFTWARE $M
GOODWILL $M
TOTAL $M
NOTE
Carrying amount 30 June 2019
24.1 49.9
17.3 17.3
65.2
14.0 1,234.3 16.8 1,341.0
18.3 1,373.2 18.3 1,742.3
Cost
299.0
Accumulated amortisation Accumulated impairment
(21.9)
– – –
(233.8)
(2.8)
–
– –
(258.5) (110.6)
(3.9)
– –
– – – – –
(106.7)
Additions Transfers
– – – –
– –
49.0
49.0
0.5
45.3
(45.8)
–
Sale of Kapuni gas interests
– – – –
–
(65.8)
– – – –
(65.8)
Disposals
(0.2)
–
(0.2)
Impairment
11.1
(15.4)
–
(12.2)
(4.4)
(32.0) (40.8)
Amortisation for the period Carrying amount 30 June 2020
(4.5)
(34.5)
(1.8)
–
4.2
17.8 17.8
75.8
–
1,164.1
21.5 1,283.4 21.5 1,724.4
Cost
49.9
343.2
16.8 1,275.2
Accumulated amortisation Accumulated impairment
(26.4) (19.3)
– – –
(267.4)
(4.6)
–
– –
(298.4) (142.6)
– –
(12.2)
(111.1)
– – –
– – – – – – – –
– – – –
50.5
50.5
Additions Transfers Disposals
0.4
40.0
(40.4)
–
– –
(0.2)
– –
(0.2)
(1.6)
(39.8)
(41.4)
Amortisation for the period Carrying amount 30 June 2021
2.6
18.2 18.2
75.8
1,164.1 1,275.2
31.6 1,292.3 31.6 1,710.1
13.1
372.0
Cost
(10.5)
– –
(296.2)
–
– –
(306.7) (111.1)
Accumulated amortisation Accumulated impairment
–
–
(111.1)
64
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