New Zealand Gazette – 2003 – No. 93

Page 2402

✨ Financial Performance Measures

2402

NEW ZEALAND GAZETTE

No. 93

Genesis Power Limited - Line Business

Derivation Table of Financial Performance Measures from Financial Statements
Pursuant to Regulation 16 of the Electricity (Information Disclosure) Regulations 1999 Schedule 1 Part 5
For the Year Ended 31 March 2001:

Derivation Table	Input and Calculations	Symbol in formula	ROF	ROE	ROI
Operating surplus before interest and income tax from financial statements	3,542
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) †	3,542
Interest on cash, bank balances, and short-term investments (STI)	0	a	3,542
OSBIT minus STI	3,542	b			3,542
Net surplus after tax from financial statements	2,816
Net surplus after tax adjusted pursuant to regulation 18 (NSAT)	2,816	c		2,816
Amortisation of goodwill and amortisation of other intangibles	0	g	add	add	add
Subvention payment	0	s	add	add	add
Depreciation of SFA at BV (x)	3,019
Depreciation of SFA at ODV (y)	3,018	d	add	add	0
ODV depreciation adjustment	0	d	deduct	deduct
Subvention payment tax adjustment	0	t
Income tax shield	109	q			109
Income tax charge	395	p		3,542	3,038
Numerator			(OSBIT^ADJ - a + g + s + td)	NSAT^ADJ = c + g + s - td	OSBIT^ADJ - a + g + r + q - t - dp^s

| Fixed assets at end of previous financial year (FAp) | 94,126 | | | | |
| Fixed assets at end of current financial year (FAc) | 102,988 | | | | |
| Adjusted net working capital at end of previous financial year (ANWCp) | 682 | | | | |
| Adjusted net working capital at end of current financial year (ANWCc) | 1,774 | | | | |
| Average total funds employed (ATFE) | 98,985 | c | | | |
| Total equity at end of previous financial year (TEp) | 84,768 | | | | |
| Total equity at end of current financial year (TEc) | 96,152 | | | | |
| Average total equity (ATE) | 91,809 | k | | 91,809 | |
| WUC at end of previous financial year (WUCp) | 228 | | | | |
| WUC at end of current financial year (WUCc) | 413 | | | | |
| Average total works under construction | 321 | e | deduct | 321 | deduct |
| Revaluations | 0 | | | | |
| Half of revaluations at end of previous financial year (FApR) | 0 | R/2 | | | |
| Intangible assets at end of previous financial year (IAp) | 0 | | | | |
| Intangible assets at end of current financial year (IAc) | 0 | | | | |
| Average total intangible asset | 0 | m | add | add | 0 |
| Subvention payment at end of previous financial year (Sp) | 0 | | | | |
| Subvention payment at end of current financial year (Sc) | 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 | v | add | 0 | |
| System fixed assets at end of previous financial year at book value (SFAbvp) | 89,721 | | | | |
| System fixed assets at end of current financial year at book value (SFAbvc) | 98,671 | | | | |
| Average value of system fixed assets at book value | 94,196 | f | deduct | 94,196 | deduct |
| System fixed assets at year beginning at ODV value (SFAodvp) | 89,721 | | | | |
| System fixed assets at end of current financial year at ODV value (SFAodvc) | 92,563 | | | | |
| Average value of system fixed assets at ODV value | 91,137 | h | add | 91,137 | add |
| Denominator | | | ATFEADJ = c-e+f+h | Ave TEADJ = k-v | ATFELADJ = c-e-lor f+h |

| Financial Performance Measure: | | ROF | ROE | ROI |
| | | 3.7 | 3.2 | 3.2 |

(† maximum statutory income tax rate applying to corporate entities; bv = book value; ave = average; odv = optimised deprival valuation; subscript p = end of the previous financial year; subscript c = end of the current financial year)

ROF = return on funds
ROE = return on equity
ROI = return on investment

Next Page →