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New Zealand Gazette – 2002 – No. 124

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✨ Vector Limited Financial Statements

VECTOR LIMITED

Electricity Lines Business

FOR THE YEAR ENDED 31 MARCH 2002

SCHEDULE 1 - PART 2

FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Description/Table	Input and Calculations ($000)	Symbol (if applicable)	ROF	RGE	SOUE	RCH
Operating surplus before interest and income tax from financial statements	112,266
Operating surplus before interest and income tax adjusted pursuant to regulation 16 (OSBIT)	112,266
Interest on cash, bank balances, and short-term investments (STI)	386
OSBIT minus (STI)	111,880		111,884			111,884
Net surplus after tax from financial statements	82,688
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	82,988				82,988
Amortisation of goodwill and amortisation of other intangibles	0	add	add
Subvention payment	0	add	add
Depreciation of SFA at 3W on	263,040
Depreciation of SFA at OCW (y)	253,940				add
DCW depreciation adjustment	0	add	add
Subvention permanent tax adjustment	n/a	deduct	deduct
Interest tax shield	3,048					3,389
Revaluations	0					-1,786
Income tax	-40,044					-40,044
Numerator		OSBIT^(ADJ) = a + b + c	111,884	NSAT^(ADJ) = n + o + p + s + t	82,988	OSBIT^(RCH) = a + b + c + f + g + h - i

| | | | | | | |
| Fixed assets at end of previous financial year (FA_0) | 527,894 | | | | | |
| Fixed assets at end of current financial year (FA_1) | 506,677 | | | | | |
| Add net working capital at end of previous financial year (ANWC_0) | 3,541 | | | | | |
| Add net working capital at end of current financial year (ANWC_1) | -8,248 | | | | | |
| Average total funds employed (ATFE) | 622,338 | for regulation 33 time-weighted average | 622,338 | | | |

| Total equity at end of previous financial year (TE_0) | 744,298 | | | | | |
| Total equity at end of current financial year (TE_1) | 797,268 | | | | 797,311 | |
| Average total equity | 780,214 | for regulation 33 time-weighted average | | 736,311 | | |

| WUC at end of previous financial year (WUC_0) | 88,027 | | | | | |
| WUC at end of current financial year (WUC_1) | 1,411 | deduct | 22,816 | | 29,316 | 22,316 |
| Average total works under construction | 0 | for regulation 33 time-weighted average | | | | |

| Revaluations | -1,736 | | | | | -945 |
| Intangible assets at end of previous financial year (IA_0) | 0 | | | | | |
| Intangible assets at end of current financial year (IA_1) | 0 | | | | add | |
| Average total intangible asset | 0 | for regulation 33 time-weighted average | | | | |

| Subvention payment at end of previous financial year (S_0) | 0 | | | | | |
| Subvention payment at end of current financial year (S_1) | 0 | | | | | |
| Subvention payment tax adjustment at end of previous financial year | 0 | | | | | |
| Subvention payment tax adjustment at end of current financial year | 0 | | | | | |
| Average subvention payment & related tax adjustment | 0 | | | | | |

| System fixed assets at end of previous financial year at book value (SFA_0) | 854,293 | | | | | |
| System fixed assets at end of current financial year at book value (SFA_1) | 878,908 | | | | | |
| Average value of system fixed assets at book value | 865,600 | for regulation 35 time-weighted average | 895,610 | | 899,542 | 866,048 |

| System fixed assets at year beginning at ODV value (SF_ODV_0) | 854,293 | | | | | |
| System fixed assets at end of current financial year at ODV value (SF_ODV_1) | 878,880 | | | | | |
| Average value of system fixed assets at ODV value | 866,643 | for regulation 33 time-weighted average | 895,643 | add | 899,048 |

| Denominator | | ATFE = g + i - k | 600,088 | Ave (TE) = k + m - n + r | 710,868 | ATFE^(RCH) = c + q - s + u - v | 904,343 |

Financial Performance Measures:

| | ROF = OSBIT^(ADJ)/ATFE 100 | NSAT = NSAT^(ADJ)/ATE 100 | ROE = NSAT^(ADJ)/ATE^(RGE) 100 | RCH = OSBIT^(RCH)/ATFE^(RCH) 100 |
| | 18.6 | 11.6 | 8.0 | 7.4 |

n: maximum regulatory depreciation SFA 3W pooling to corporate entities.
y: book value.
t: average ROF = return on funds.
w: average RGE = return on equity.
o: adjustment/regulatory valuation.
u: subvention W at end of previous financial year.
ATFE = average total funds employed.

VUW Te Waharoa — NZ Gazette 2002, No 124

Gazette.govt.nz — NZ Gazette 2002, No 124

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✨ LLM interpretation of page content

🏭 Vector Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Performance, Measures, Vector Limited

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