Meridian Annual Report - Meridian Energy

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Meridian Energy Limited — Notes to the Financial Statements (continued)
17. Property, Plant and Equipment
group
Generation
Structures
& Plant
at Fair Value
$’000
Freehold
Land
at Cost
$’000
Freehold
Buildings
at Cost
$’000
Resource
Consents
at Cost
$’000
Other
Plant and
Equipment
at Cost
$’000
Capital
Work in
Progress
at Cost
$’000
Total
$’000
Cost or Fair Value
Balance at 1 July 2006 4,609,256 35,013 9,806 7,851 75,910 94,869 4,832,705
Additions - 3,090 405 - 611 175,290 179,396
Transfers from Capital Work in Progress 166,222 - 366 - 15,698 (185,734) (3,448)
Disposals (771) (1,749) (81) - (3,563) - (6,164)
Reclassification (735) - - 735 - - -
Revaluation Increments 1,444,493 - - - - 10,507 1,455,000
Offset of Accumulated Depreciation on Revalued Assets (98,003) - - - - - (98,003)
Effect of Acquisition of Controlled Entities - - - - 4,783 - 4,783
Balance at 30 June 2007 6,120,462 36,354 10,496 8,586 93,439 94,932 6,364,269
Balance at 1 July 2007 6,120,462 36,354 10,496 8,586 93,439 94,932 6,364,269
Additions - - - - 617 268,594 269,211
Transfers from Capital Work in Progress 16,301 7,890 2,351 - 30,913 (53,937) 3,518
Transfers to Assets Classified as Held For Sale - (6,656) (917) - (668) - (8,241)
Disposals (1,656) (3,844) (1,041) - (6,222) - (12,763)
Reclassification 108 - (7) - (101) - -
Balance at 30 June 2008 6,135,215 33,744 10,882 8,586 117,978 309,589 6,615,994
Accumulated Depreciation and Impairment
Balance at 1 July 2006 - - (1,229) (1,151) (38,349) - (40,729)
Depreciation Expense (98,003) - (260) (170) (8,699) - (107,132)
Disposals - - 5 - 3,413 - 3,418
Offset of Accumulated Depreciation on Revalued Assets 98,003 - - - - - 98,003
Effect of Acquisition of Controlled Entities - - - - (2,756) - (2,756)
Balance at 30 June 2007 - - (1,484) (1,321) (46,391) - (49,196)
Balance at 1 July 2007 - - (1,484) (1,321) (46,391) - (49,196)
Depreciation Expense (129,267) - (352) (180) (9,757) - (139,556)
Disposals 11 - 144 - 4,936 - 5,091
Transfer to Assets Classified as Held For Sale - - 92 - 165 - 257
Balance at 30 June 2008 (129,256) - (1,600) (1,501) (51,047) - (183,404)
Net Book Value
Net Book Value 30 June 2006 4,609,256 35,013 8,577 6,700 37,561 94,869 4,791,976
Net Book Value 30 June 2007 6,120,462 36,354 9,012 7,265 47,048 94,932 6,315,073
Net Book Value 30 June 2008 6,005,959 33,744 9,282 7,085 66,931 309,589 6,432,590