Insurance Recoveries (Tables)

6 Months Ended

Jun. 30, 2017

Allocation Of The Total Insurance Proceeds To The Various Risks and Bases


Covered Risks	Basis for Allocation (Dollars in thousands)		Commentary	% Allocation	Allocation of Insurance Proceeds (Dollars in thousands)
Property damage	NZ$	44,808	Estimated replacement cost for Courtenay Central parking building, as determined by an independent construction cost consultant.	81%	NZ$	29,093
Demolition costs		7,276	Actual costs incurred and best estimates of remaining costs to complete the demolition activities of Courtenay Central parking building	13%		4,724
Business interruption		3,415	Estimated lost profits during the closure period relating to our various revenue-generating components within Courtenay Central ETC (including our cinema and property operations)	6%		2,217
Total	NZ$	55,499		100%	NZ$	36,034

Schedule Of Net Impact In Current Earnings

	Recoverable Components
	Non-Operating Income						Operating Income
(Dollars in thousands)	Property Damage(1)		Demolition Costs(1)		Total		Business Interruption(2)		Grand Total
Insurance Proceed Allocation	NZ$	29,093	NZ$	4,724	NZ$	33,817	NZ$	2,217	NZ$	36,034

Less: Recorded values of Recoverable Components, June 30, 2017
Recorded as of December 31, 2016		13,451		7,276		20,727		--		20,727
Changes in estimates and others		347		--		347		111		458
		13,798		7,276		21,074		111		21,185
Net Impact in Current Earnings (in NZ$)	NZ$	15,295	NZ$	(2,552)	NZ$	12,743	NZ$	2,106	NZ$	14,849
Net Impact in Current Earnings (in US$)	$	11,063	$	(1,846)	$	9,217	$	1,523	$	10,741

(1) The net impact to current earnings of $9.2 million (NZ$12.7 million) is recorded as “Gain on Insurance Recoveries” in our Consolidated Statement of Income.

(2) The impact to current earnings of $1.5 million (NZ$2.1 million) is recorded as part of the applicable segment revenues in our Consolidated Statement of Income.