A. In YEARS what is the average useful life of Husky Energy's 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). B. Estimate the percent used up of Husky Energy's depreciable assets in 2018.Note: Round percentage to one decimal place (for example, enter 6.7% for 6.6555%).C. Is there a gain or loss? 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 $4 million cash proceeds for the year. Determine the gain or loss on the disposal.Note: Do not use any negative signs with your answers.

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Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal 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 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 $2,591 million. The property and equipment footnote follows. Cost Dec. 31, 2017 Additions Property, Plant and Equipment (in C$ millions) Oil and Gas Properties Processing, Transportation and Storage Retail and Upgrading Refining Other Total $43,488 2,465 $89 $2,703 $9,559 $3,047 $58,886 12 12 662 744 151 3,434 64 79 3 67 - - 79 Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations 43 2 Disposals and derecognition (632) - Exchange adjustments 362 1 = (5) 5 (2) (5) 7 45 (10) (1) (643) 773 3 1,139 - Dec. 31, 2018 $45,869 $104 $2,763 $11,059 $3,212 $63,007 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 586 - Exchange adjustments (138) (1) = 10 (264) (1) 596 (404) $(27,379) $(50) $(1,585) $(3,933) $(1,995) $(34,942) Dec. 31, 2018 Net book value Dec. 31, 2017 Dec. 31, 2018 $17,472 18,490 $42 54 $1,241 $6,383 $1,205 $26,343 1,178 7,126 1,217 28,065 Estimating Useful Life, Percent Used Up, and Gain or Loss on Disposal 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 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 $2,591 million. The property and equipment footnote follows. Cost Dec. 31, 2017 Additions Property, Plant and Equipment (in C$ millions) Oil and Gas Properties Processing, Transportation and Storage Retail and Upgrading Refining Other Total $43,488 2,465 $89 $2,703 $9,559 $3,047 $58,886 12 12 662 744 151 3,434 64 79 3 67 - - 79 Acquisitions Transfers from exploration and evaluation Intersegment transfers Changes in asset retirement obligations 43 2 Disposals and derecognition (632) - Exchange adjustments 362 1 = (5) 5 (2) (5) 7 45 (10) (1) (643) 773 3 1,139 - Dec. 31, 2018 $45,869 $104 $2,763 $11,059 $3,212 $63,007 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 586 - Exchange adjustments (138) (1) = 10 (264) (1) 596 (404) $(27,379) $(50) $(1,585) $(3,933) $(1,995) $(34,942) Dec. 31, 2018 Net book value Dec. 31, 2017 Dec. 31, 2018 $17,472 18,490 $42 54 $1,241 $6,383 $1,205 $26,343 1,178 7,126 1,217 28,065

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A Average Useful Life of Depreciable Assets To calculate the average useful life of Husky Energys de... View the full answer