Genesis Energy (Genesis) advises that a new segment note structure has been adopted.
This reflects enhanced internal business segment reporting, and includes the following key updates: Intersegment revenues and expenses are shown separately by segment (previously disclosed in total by product); Emissions revenue and expenses are shown separately (previously disclosed within the product it related to i.e. electricity, gas or petroleum); Petroleum revenue and expenses has been split into LPG and oil; Other revenue has been allocated to products where possible; Electricity purchases and electricity network, transmission, levies and meters are shown separately (previously disclosed together); Gas purchases and gas network, transmission, levies and meters are shown separately (previously disclosed together); Other operating expenses have been split into two lines (other costs, nested within gross margin, and other operating expenses) and electricity and gas metering costs, marketing fees & levies have been presented in their respective product lines
In addition to changes in the structure of the segment note, FY19 information has been restated to reflect: Adoption of the new accounting standard NZ IFRS 16: Leases; Realignment of
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