Financial Information Act Return - BC Hydro

Notes to Consolidated Financial Statements
For the Years Ended March 31, 2003 and 2002
Note 4: Taxes
(in millions) 2003 2002
School taxes and grants $142 $ 140
Corporation capital taxes and other 3 26
$145 $ 166
School taxes and grants and corporation capital taxes are paid to the Province unless otherwise noted.
School taxes of $35 million (2002 – $35 million) and grants of $39 million (2002 – $38 million) were
paid to municipalities and regional districts. All school taxes paid to municipalities and regional districts
are remitted to the Province. As a Crown corporation, BC Hydro is exempt from Canadian federal and
provincial income tax.
Note 5: Finance Charges
(in millions) 2003 2002
Interest on debt securities – bonds, notes and debentures $ 536 $ 568
– revolving borrowings 5 3
Amortization of deferred debt costs and other expenses 26 65
567 636
Less:
Sinking fund income (60) (58)
Other income (26) (18)
Finance charges capitalized to unfinished construction (24) (16)
(110) (92)
$ 457 $ 544
Included in interest on debt securities is $520 million (2002 – $557 million) in interest paid to the
Province.
Note 6: Capital Assets
(dollar amounts in millions) 2003 2002
Capital Composite Capital Composite
Assets in Accumulated Unfinished Depreciation Assets in Accumulated Unfinished Depreciation
Service Depreciation Construction Rate Service Depreciation Construction Rate
Generation
Hydraulic $ 5,193 $1,638 $ 207 1.5% $ 5,142 $1,570 $ 110 1.5%
Thermal 425 207 133 3.6 399 193 77 3.4
5,618 1,845 340
5,541 1,763 187
Distribution 3,395 1,135 90 2.5 3,258 1,073 101 2.6
Transmission lines 2,789 1,256 27 2.1 2,740 1,206 28 2.1
Substations 1,917 963 73 3.2 1,885 958 59 3.1
Other
Land and buildings 424 130 4 2.4 432 117 13 2.4
Equipment 644 399 125 10.2 607 357 71 9.3
Service vehicles 124 76 – 8.7 117 71 – 9.2
Sundry 29 12 10 3.3 28 12 – 3.3
1,221 617 139 1,184 557 84