New Zealand Gazette – 2006 – No. 139

Page 4044

✨ Financial Performance Measures



4044

NEW ZEALAND GAZETTE, No. 139

17 NOVEMBER 2006

FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS

Derivation Table Input and Calculations Symbol in formula ROF ROE ROI
Operating surplus before interest and income tax from financial statements 3,173
Operating surplus before interest and income tax adjusted pursuant to requirement 18 (OSBIT) 3,173
Interest on cash, bank balances, and short-term investments (ISTI) 29
OSBIT minus ISTI 3,144 a 3,144 3,144
Net surplus after tax from financial statements 1,970
Net surplus after tax adjusted pursuant to requirement 18 (NSAT) 1,970 n 1,970
Amortisation of goodwill and amortisation of other intangibles - g add add add
Subvention payment 940 s add add add
Depreciation of SFA at BV (x) x
Depreciation of SFA at CDV (y) 668 y
ODV depreciation adjustment 272 d add / deduct 272 add / deduct
Subvention payment tax adjustment s^t
Interest tax shield 16 q deduct deduct 16
Revaluations r add
Income tax 1,127 p
Numerator OSBIt(^{AD}) = a + g + s + d 3,416 NSAT(^{AD}) = n + g + s + d - q + r - p 2,242

| | | | | | |
| Fixed assets at end of previous financial year (FA(_0)) | 24,057 | | | | |
| Fixed assets at end of current financial year (FA(_1)) | 24,575 | | | | |
| Adjusted net working capital at end of previous financial year (ANWC(_0)) | 192 | | | | |
| Adjusted net working capital at end of current financial year (ANWC(_1)) | 214 | | | | |
| Average total funds employed (ATFE) | 24,519 | c | 24,519 | | |
| (or requirement 32 time-weighted average) | | | | | |

| Total equity at end of previous financial year (TE(_0)) | 23,236 | | | | |
| Total equity at end of current financial year (TE(_1)) | 21,406 | | | | |
| Average total equity | 22,321 | k | | 22,321 | |
| (or requirement 32 time-weighted average) | | | | | |

| WUC at end of previous financial year (WUC(_0)) | 512 | | | | |
| WUC at end of current financial year (WUC(_1)) | | | | | |
| Average total works under construction | 256 | e | deduct | 256 | deduct | 256 |
| (or requirement 32 time-weighted average) | | | | | |

| Revaluations | | r | | | |
| Half of revaluations | | r/2 | | | deduct | 0 |

| Intangible assets at end of previous financial year (IA(_0)) | | | | | |
| Intangible assets at end of current financial year (IA(_1)) | | | | | |
| Average total intangible asset | | m | | deduct | 0 |
| (or requirement 32 time-weighted average) | | | | | |

| Subvention payment at end of previous financial year (S(_0)) | - | | | | |
| Subvention payment at end of current financial year (S(_1)) | - | | | | |
| Subvention payment tax adjustment at end of previous financial year | - | | | | |
| Subvention payment tax adjustment at end of current financial year | - | | | | |
| Average subvention payment & related tax adjustment | | v | | add | 0 |

| System fixed assets at end of previous financial year at book value (SFA({BV0})) | 22,243 | | | | |
| System fixed assets at end of current financial year at book value (SFA({BV1})) | 23,263 | | | | |
| Average value of system fixed assets at book value | 22,753 | f | | 22,753 | deduct | 22,753 |
| (or requirement 32 time-weighted average) | | | | | |

| System Fixed assets at year beginning at ODV value (SFA({ODV0})) | 19,522 | | | | |
| System Fixed assets at end of current financial year at ODV value (SFA({ODV1})) | 20,290 | | | | |
| Average value of system fixed assets at ODV value | 19,906 | h | add | 19,906 | add | 19,906 |
| (or requirement 32 time-weighted average) | | | | | |

| Denominator | | ATFE(^{AD}) = c = p - e + (l + h) | 24,519 | TE(^{AD}) = k - e - m + v | 21,416 | AIFE(^{AD}) = p - e - f + h | 21,416 |

| Financial Performance Measure: | | ROF = OSBI(^{AD})/ATFE(^{AD}) x 100 | 16.01 | ROE = NSAT(^{AD})/TE(^{AD}) x 100 | 10.5 | ROI = OSBI(^{AD})/AIFE(^{AD}) x 100 | 10.6 |

t = maximum statutory income tax rate applying to corporate entities the previous financial year
bv = book value
ave = average
odv = optimised deprival valuation
subscript '0' = end of the previous financial year
subscript '1' = end of the current financial year
ROF = return on funds
ROE = return on equity
ROI = return on investment



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 139


Gazette.govt.nz — PDF NZ Gazette 2006, No 139




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Nelson Electricity Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Operating Expenditure, Revenue, Expenses, Nelson Electricity Limited