Financials
04
Notes to the Financial Statements for the year ended 30 June 2015
12 PROPERTY, PLANT AND EQUIPMENT (CONTINUED) ■■ If useful lives do not reflect the actual consumption of the benefits of the assets, then Auckland Transport could be over or under estimating the annual depreciation charge recognised as an expense in the statement of comprehensive revenue and expense. To minimise this risk, asset useful lives have been determined with reference to the external industry guidance and have been adjusted for local conditions based on past experience. Asset inspection, deterioration, and condition modelling are also carried out regularly as part of asset management activities, which provides further assurance over useful life estimates. All other asset classes are measured at depreciated historical cost.
Work in progress is made up of the following asset classes:
Actual 2015 $000
Actual 2014 $000
Land
34,948
32,701
Rolling stock
27,280
118,043
Wharves
2,200
2,330
Bus stations and shelters
2,582
2,651
– CRL
88,038
54,288
– Other stations
14,310
20,508
Roading
265,732
370,333
Total work in progress
435,090
600,854
Property, plant and equipment Operational assets
Train stations
Infrastructural assets
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