Gross Replacement Cost definition

Gross Replacement Cost or “GRC” means the cost of replacing an existing tangible fixed asset with an identical or substantially similar new asset having a similar production or service capacity;
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Gross Replacement Cost means the manufacturer's published price to the wholesaler or the wholesaler's price to the retailer for the same merchandise as the merchandise whose cost is in question, before any deduction for allowances, whether manufacturer promotional allowances or otherwise, or for discounts of any kind.
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Examples of Gross Replacement Cost in a sentence

  • This is generally derived from the asset’s Gross Replacement Cost (GRC) and is the current purchase price of an identical new asset or the modern equivalent asset (MEA) with the same service potential.

  • This will only increase the gross replacement cost of the organisation’s assets if the modern equivalent exceeds the original cost.See also new works, which creates a new asset and does increase the gross replacement cost of the organisation’s assets.See also upgrade, which increases the performance or capacity of an asset and does increase the Gross Replacement Cost of the organisation’s assets.

  • Also included is the summary information for the asset valuation together with financial details of the Gross Replacement Cost (GRC) of assets.

  • The Gross Replacement Cost is the sum of the replacement costs of each of the components if it is replicated with modern equivalent asset and recognises the use of modern materials, standards and installation techniques to replicate the existing system.

  • The lack of clarity about how Medicare’s All-Inclusive Population Based Payment (AIPBP) interfaces with Critical Access Hospital’s cost reporting coupled with a lack of modeling data and financial limitations make decisions related to participating in the Medicare program particularly challenging for Vermont’s Critical Access Hospitals.

  • With a total asset under CIPFA guidance valued at £12.26 billion (Gross Replacement Cost) of which carriageways alone are valued at £10.2 billion, the highway network maintained and managed by Devon County Council is our County’s most valuable and important public asset.

  • WGA provides details of the asset valuation in terms of: • Gross Replacement Cost (GRC).

  • The Gross Replacement Cost (GRC) of highway assets is £2.2bn based on Whole of Government Accounting (WGA) principles.

  • This is generally derived from the asset’s Gross Replacement Cost (GRC) which is the current purchase price of an identical new asset or the cost of a modern equivalent asset (MEA) with the same service potential, except where we are directed by Ofcom to apply a different valuation methodology.In line with the FCM concept, the effect of the asset revaluation on the income statement is to increase the historical cost profit by any holding gains arising in the year and to decrease it by unrealised losses.

  • The current cost of the asset has been valued at £12.26 billion (Gross Replacement Cost) under CIPFA guidance (excluding land costs) and includes all highway assets such as carriageways, footways, bridges and street lighting.

Related to Gross Replacement Cost

  • Replacement Cost means the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of Applicable Requirements, and without deduction for depreciation.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Patient cost means the cost of a medically necessary health care service that is incurred as a result

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Estimated Project Cost means Benchmark cost of MNRE which is Rs 8.00 Crore/MWp as per MNRE letter no. 03/20/2014-15/GCRT/11.12.14 at the time of Bid Due date.

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Total Development Cost means the total of all costs incurred in the completion of a Development, all of which shall be subject to the review and approval by the Credit Underwriter and the Corporation pursuant to this rule chapter, and as further described in Rule 67-48.0075, F.A.C.

  • Settlement Costs means all costs incurred by the Settlement Class and their attorneys, including but not limited to Plaintiffs’ attorneys’ fees, their costs of suit, Plaintiffs’ expert or consultant fees, any incentive payments paid to the Class Representatives, notice costs, costs of Claims Administration, and all other costs of administering the settlement.

  • Independent expenditure means an expenditure by a person: