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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 the company reported depreciation expense of $ 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. $ $ $ $ $ $
Additions
Acquisitions
Transfers from exploration and evaluation
Intersegment transfers
Changes in asset retirement obligations
Disposals and derecognition
Exchange adjustments
Dec. $ $ $ $ $ $
Accumulated depletion, depreciation, amortization, and impairment
Dec. $ $ $ $ $ $
Depletion, depreciation, amortization, and impairment
Disposals and derecognition
Exchange adjustments
Dec. $ $ $ $ $ $
Net book value
Dec. $ $ $ $ $ $
Dec.
Required
a Compute the average useful life of Husky Energys depreciable assets in Assume that land is of Refining
Note: Round your answer to one decimal place for example, enter for
Answer
years
b Estimate the percent used up of Husky Energys depreciable assets in
Note: Round percentage to one decimal place for example, enter for
Answer
c Consider the disposals and derecognition during the year. This refers to assets that were sold and removed from the balance sheet during Calculate the net book value of the total PPE disposed during the year. Assume that Husky Energy received $ 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
Answer
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