ARTA Annual Report 2009 - Auckland Transport

Details of net assets acquired and discount on acquisition are as follows:
2009 2008
$000 $000
Purchase consideration nil nil
Fair value of assets acquired nil 77,957
Deferred tax liability nil (5,128)
Discount on acquisition nil 72,829
The assets and liabilities as of 1 October arising from the acquisition are as follows:
2009 2009 2008 2008
Fair Acquiree’s Acquiree’s
Value Carrying Amount Fair value Carrying Amount
$000 $000 $000 $000
Land subject to finance lease nil nil 15,050 nil
(see note 7)
Property, plant and equipment nil nil 40,385 nil
(see note 7)
Operating lease for rail station land nil nil 22,522 nil
(see note 8)
Deferred tax liabilities nil nil (5,128) nil
(see note 20)
Net assets acquired nil nil 72,829 nil
Cash outflow on acquisition nil nil
19 Inventory
Inventory of $5,126,000 (2008: $3,096,000) comprises spare parts for ARTA’s rolling stock; it is held and
managed by KiwiRail on ARTA’s behalf.
The carrying amount of inventories is measured at the lower of cost and net realisable value.
No inventories are pledged as security for liabilities.
The cost of inventories recognised as an expense during the financial year is $3,454,000.
There have been no write-downs of inventory to NRV. There have been no reversals of write-downs.
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