Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Property, Plant and Equipment

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Property, Plant and Equipment
 12 Months Ended
Mar. 31, 2011
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
7. PROPERTY, PLANT AND EQUIPMENT
 
Property, plant and equipment consist of the following components:
 
                                         
                Machinery
              
                and
     Construction
        
(Millions of US dollars)   Land     Buildings     Equipment     In Progress1     Total  
   
Balance at 31 March 2009:
                                       
Cost
    18.0       201.6       826.2       51.6       1,097.4  
Accumulated depreciation
    –       (47.3 )     (349.3 )     –       (396.6 )
 
 
Net book value
  $ 18.0     $ 154.3     $ 476.9     $ 51.6     $ 700.8  
                                         
Changes in net book value:
                                       
Capital expenditures
    0.1       3.6       30.0       16.8       50.5  
Depreciation
    –       (9.7 )     (52.0 )     –       (61.7 )
Other movements
    –       –       20.7       (20.7 )     –  
Foreign currency translation adjustments
    –       –       21.0       –       21.0  
 
 
Total changes
    0.1       (6.1 )     19.7       (3.9 )     9.8  
                                         
Balance at 31 March 2010:
                                       
Cost
  $ 18.1     $ 205.2     $ 897.9     $ 47.7     $ 1,168.9  
Accumulated depreciation
    –       (57.0 )     (401.3 )     –       (458.3 )
 
 
Net book value
    18.1       148.2       496.6       47.7       710.6  
                                         
Changes in net book value:
                                       
Capital expenditures
    0.2       4.4       58.9       (13.2 )     50.3  
Retirements and sales
    –       –       (0.7 )     –       (0.7 )
Depreciation
    –       (9.5 )     (53.4 )     –       (62.9 )
Foreign currency translation adjustments
    –       –       10.4       –       10.4  
 
 
Total changes
    0.2       (5.1 )     15.2       (13.2 )     (2.9 )
                                         
Balance at 31 March 2011:
                                       
Cost
    18.3       209.6       966.5       34.5       1,228.9  
Accumulated depreciation
    –       (66.5 )     (454.7 )     –       (521.2 )
 
 
Net book value
  $   18.3     $   143.1     $   511.8     $   34.5     $   707.7  
                                         
 
1 Construction in progress consists of plant expansions and upgrades.
 
Depreciation expense for the year ended 31 March 2011 was US$62.9 million. Included in property, plant and equipment are restricted assets of the AICF with a net book value of US$2.4 million and US$2.3 million as of 31 March 2011 and 2010.