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Husky Energy is one of Canada s largest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The

Husky Energy is one of Canadas largest integrated energy companies. Based in Calgary, Alberta, Husky is publicly traded on the Toronto Stock Exchange. The Company operates in Western and Atlantic Canada, the United States and the Asia Pacific Region with upstream and downstream business segments. The company uses IFRS to prepare its financial statements. During 2018, the company reported depreciation expense of $2,591 million. The property and equipment footnote follows.
Oil and Processing, Retail
Gas Transportation and
Property, Plant and Equipment (in C$ millions) Properties and Storage Upgrading Refining Other Total
Cost
Dec. 31,2017 $58,541 $120 $3,639 $12,867 $4,102 $79,269
Additions 2,46512627441513,434
Acquisitions 64367
Transfers from exploration and evaluation 7979
Intersegment transfers (5)5-
Changes in asset retirement obligations 432(2)(5)745
Disposals and derecognition (632)(10)(1)(643)
Exchange adjustments 362177331,139
Dec. 31,2018 $60,922 $135 $3,699 $14,367 $4,267 $83,390
Accumulated depletion, depreciation, amortization, and impairment
Dec. 31,2017 $(26,016) $(47) $(1,462) $(3,176) $(1,842) $(32,543)
Depletion, depreciation, amortization, and impairment (1,811)(2)(123)(503)(152)(2,591)
Disposals and derecognition 58610596
Exchange adjustments (138)(1)(264)(1)(404)
Dec. 31,2018 $(27,379) $(50) $(1,585) $(3,933) $(1,995) $(34,942)
Net book value
Dec. 31,2017 $32,525 $73 $2,177 $9,691 $2,260 $46,726
Dec. 31,201833,543852,11410,4342,27248,448
Required
a. Compute the average useful life of Husky Energys depreciable assets in 2018. Assume that land is 10% of Refining.
Note: Round your answer to one decimal place (for example, enter 6.8 for 6.77555).
Answer
0
years
b. Estimate the percent used up of Husky Energys depreciable assets in 2018.
Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%).
Answer
0
%
c. Consider the disposals and derecognition during the year. This refers to assets that were sold and removed from the balance sheet during 2018. Calculate the net book value of the total PPE disposed during the year. Assume that Husky Energy received $6 million cash proceeds for the year. Determine the gain or loss on the disposal.
Note: Do not use any negative signs with your answers.
$Answer
0
Answer

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