Annual Report

46
Ausgrid and Controlled Entity
Notes to financial statements
For the year ended 30 June 2015
9. DERIVATIVE FINANCIAL INSTRUMENTS
Derivative financial assets – current
Consolidated Entity & Ausgrid
Energy derivatives non‐novated – 153.5
Derivative financial liabilities – current
Energy derivatives non‐novated – (154.6)
Forward interest rate contracts – (8.9)
Ausgrid’s exposure to credit, currency and interest rate risk related to derivatives is disclosed in Note 18.
10. OTHER CURRENT ASSETS
Current
2015
$M
2014
$M
– (163.5)
Consolidated Entity & Ausgrid
Deferred costs – WIP on recoverable works 6.2 22.1
Greenhouse certificates – at cost ‐ 0.3
2015
$M
2014
$M
6.2 22.4
11. ASSETS CLASSIFIED AS HELD FOR SALE
Assets held for sale
Consolidated Entity & Ausgrid
Buildings 1.0 0.1
System assets 57.2 52.9
2015
$M
2014
$M
58.2 53.0
Throughout the year, Ausgrid’s management decided to sell excess land and buildings. There are a number of interested parties and the
sales are expected to be completed within the next financial year. An impairment loss of $22.9m on the remeasurement of assets being
disposed to the lower of its carrying amount and its fair value less costs to sell has been recognised in the asset revaluation reserves.
Assets of $31.4m which were held for sale as at 30 June 2014, have been reclassified as Property Plant & Equipment as at 30 June 2015
given the sale terms changed from a freehold sale to prepaid long term leases and are expected to settle during the financial year ended
30 June 2016.