Volume I - Finance - Government of Newfoundland and Labrador

64
SUMMARY FINANCIAL STATEMENTS
PROVINCE OF NEWFOUNDLAND AND LABRADOR
Tangible Capital Assets
As at 31 March 2010
with comparative figures for 2009
Schedule 9
Original Cost
Accumulated Amortization
Category
Balance
31 March
2009
Additions
2010
Disposals
2010
Balance
31 March
2010
Balance
31 March
2009
Amort.
Net of
Disposals
2010
Balance
31 March
2010
Net Book
Value
31 March
2010
Net Book
Value
31 March
2009
($mil) ($mil) ($mil) ($mil) ($mil) ($mil) ($mil) ($mil) ($mil)
Buildings 2,443.4 117.9 21.7 2,539.6 1,216.0 46.7 1,262.7 1,276.9 1,227.4
Marine vessels &
aircraft 99.5 0.1 0.8 98.8 76.6 1.8 78.4 20.4 22.9
Equipment &
machinery 1,124.0 96.3 17.9 1,202.4 817.4 56.1 873.5 328.9 306.6
Infrastructure 3,909.6 61.7 0.7 3,970.6 3,388.6 53.4 3,442.0 528.6 521.0
Computer
software 66.3 12.2 4.2 74.3 50.4 1.6 52.0 22.3 15.9
Sub-total 7,642.8 288.2 45.3 7,885.7 5,549.0 159.6 5,708.6 2,177.1 2,093.8
Work in progress 437.3 437.3 303.3
Total 8,323.0 2,614.4 2,397.1
NOTES
1. Tangible Capital Assets
Tangible capital assets are capitalized on the Consolidated Statement of Financial Position with the cost of the assets
amortized over the estimated useful life of the assets.
2. Work In Progress
Work in progress is considered to be a tangible capital asset, however it is not amortized as it is not yet available for
use. Government currently has a number of projects under construction or development with a total for 31 March 2010
of $437.3 million (31 March 2009 - $303.3 million) having been spent on these projects to date. Upon completion,
these assets are recorded in the appropriate category in the schedule. The additions of $288.2 million include $60.2
million of work in progress assets that have been capitalized in the year. Net additions to work in progress assets
include additions of $194.4 million less disposals of $0.2 million for 2009-10.
3. Amortization Expense
Amortization net of disposals in the amount of $159.6 million as reported in the schedule consists of amortization
expense of $199.6 million less accumulated amortization on assets disposed of in the year in the amount of $39.2
million. The remaining deduction of $0.8 million is the result of adjustments by certain entities, the inclusion of
additional entities and the removal of an entity from the Government reporting entity.
Amortization net of disposals as at 31 March 2009 was $184.3 million which consisted of amortization expense of
$180.5 million less accumulated amortization on assets disposed of in the year in the amount of $27.5 million. The
remaining $31.3 million is the result of adjustments by certain entities.