Landcorp - Crown Ownership Monitoring Unit

Note 14 – Farm Working ExpensesGroup Group Parent Parent2010 2009 2010 2009$000 $000 $000 $000Pasture maintenance 20,459 28,077 17,909 24,424Shearing 4,572 4,640 4,555 4,631Cropping and feed costs 20,522 17,252 18,306 15,385Animal health 5,626 6,040 5,004 5,216Animal breeding 2,290 2,601 2,090 2,387Livestock and other freight 1,932 1,906 1,699 1,706Grazing charges 3,427 3,123 2,334 1,884Other farm working expenses 4,057 5,331 3,157 3,769Total Farm Working Expenses 62,885 68,970 55,054 59,402Landcorp experienced easing in some significant costs 2009/10, especially fertiliser, which over the previous two years had increased dramatically.In 2009/10 fertiliser prices reduced but remain above long-term average levels. Landcorp managed its fertiliser application during the year to focuson areas of highest need, resulting in lower overall fertiliser application.Note 15 – PersonnelGroup Group Parent Parent2010 2009 2010 2009$000 $000 $000 $000Staff remuneration 39,279 38,345 35,924 34,643Contributions to defined benefit superannuation schemes 826 646 774 604Restructuring and transfer costs 122 529 118 477Staff training 663 985 631 912Other 1,164 996 1,068 913Total Personnel Costs 42,054 41,501 38,515 37,549Increased superannuation scheme contributions reflect increased membership in Landcorp’s defined contribution superannuation scheme andKiwiSaver. Decreased staff training costs reflect more targeted training plus deferral of some training to 2010/11.Note 16 – Depreciation and AmortisationGroup Group Parent Parent2010 2009 2010 2009$000 $000 $000 $000Depreciation of Property, Plant and EquipmentDepreciation on buildings – freehold land 2,505 2,544 2,505 2,544– leased land 379 351 – –– protected land 126 108 – –Depreciation on plant 3,970 3,671 3,171 2,897Depreciation on motor vehicles 3,843 3,832 3,412 3,285Depreciation on furniture and equipment 600 647 545 593Depreciation on computer equipment 439 532 385 406Total Depreciation 11,862 11,685 10,018 9,725Amortisation of Intangible AssetsAmortisation of computer software 695 550 695 550Total Amortisation 695 550 695 550Total Depreciation and Amortisation 12,557 12,235 10,713 10,27569