BRITISH COLUMBIA HYDRO AND POWER AUTHORITY

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2016 <strong>AND</strong> 2015 British Columbia Hydro and Power Authority The Company recognizes government grants when there is reasonable assurance that any conditions attached to the grant will be met and the grant will be received. Government grants related to assets are deducted from the carrying amount of the related asset and recognized in profit or loss over the life of the related asset. Unfinished construction consists of the cost of property, plant and equipment that is under construction or not ready for service. Costs are transferred to property, plant and equipment in service when the constructed asset is capable of operation in a manner intended by management. (ii) Subsequent Costs The cost of replacing a component of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied within the component will flow to the Company, and its cost can be measured reliably. The carrying amount of the replaced component is derecognized. The costs of property, plant and equipment maintenance are recognized in the statement of comprehensive income as incurred. (iii) Depreciation Property, plant and equipment in service are depreciated over the expected useful lives of the assets, using the straight-line method. When major components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment. The expected useful lives, in years, of the Company’s main classes of property, plant and equipment are: Generation 15 – 100 Transmission 20 – 65 Distribution 20 – 60 Buildings 5 – 60 Equipment & Other 3 – 35 The expected useful lives and residual values of items of property, plant and equipment are reviewed annually. Depreciation of an item of property, plant and equipment commences when the asset is available for use and ceases at the earlier of the date the asset is classified as held for sale and the date the asset is derecognized. (f) Intangible Assets Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses. Land rights associated with statutory rights of way acquired from the Province that have indefinite useful lives and are not subject to amortization. Other intangible assets include California carbon allowances which are not amortized because they are used to settle obligations arising from carbon emissions regulations. Intangible assets with finite useful lives are amortized over their expected useful lives on a straight line basis. These assets are tested for impairment annually or more
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED MARCH 31, 2016 <strong>AND</strong> 2015 British Columbia Hydro and Power Authority frequently if events or changes in circumstances indicate that the asset value may not be fully recoverable. The expected useful lives, in years, are as follows: Software 2 – 10 Other 10 – 20 Amortization of intangible assets commences when the asset is available for use and ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized. (g) Asset Impairment (i) Financial Assets Financial assets, other than those measured at fair value, are assessed at each reporting date to determine whether there is impairment. A financial asset is impaired if evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. An impairment loss in respect of a financial asset measured at amortized cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. An impairment loss in respect of an available-for-sale financial asset is calculated by reference to its fair value. Individually significant financial assets are tested for impairment on an individual basis. The remaining financial assets are assessed collectively in groups that share similar credit risk characteristics. All impairment losses are recognized in net income. Any cumulative loss in respect of an availablefor-sale financial asset previously recognized in other comprehensive income and presented in unrealized gains/losses on available-for-sale financial assets in equity is transferred to net income. An impairment loss is reversed if the reversal can be related to an event occurring after the impairment loss was recognized. For financial assets measured at amortized cost and available-forsale financial assets that are debt securities, the reversal is recognized in net income. (ii) Non-Financial Assets The carrying amounts of the Company’s non-financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. For intangible assets that have indefinite useful lives or that are not yet available for use, the recoverable amount is estimated annually. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of identifiable assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the cash-generating unit, or CGU). The recoverable amount of an asset or CGU is the greater of its value in use and its
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Report ID: FI307 Accenture Inc. Acc
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COLUMBIA HYDRO CONSTRUCTORS LTD. Re
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Report ID: FI307 Workers' Compensat
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POWEREX CORP. Report ID: FI308 Sche
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POWEREX CORP. Report ID: FI308 Sche
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POWEREX CORP. Report ID: FI307 1672
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POWEREX CORP. Report ID: FI307 Prog
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POWERTECH LABS INC. SCHEDULE OF REM
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POWERTECH LABS INC. Report ID: FI30
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POWERTECH LABS INC. Report ID: FI30
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NOTE A reconciliation of amounts re
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BRITISH COLUMBIA HYDRO AND POWER AUTHORITY

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