New Zealand Gazette – 2007 – No. 134

Page 3513

✨ Financial Performance Measures



30 NOVEMBER 2007 NEW ZEALAND GAZETTE, No. 134 3513

SCHEDULE I - PART 7

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 208,178
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) 308,178
Interest on cash, bank balances, and short-term investments (SIT) 3,295
OSBIT minus SIT 204,883 a 204,883 204,883
Net surplus after tax from financial statements 106,385
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 306,385 n 106,385
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) 101,987
Depreciation of SFA at ODV (y) 110,000
ODV depreciation adjustment 8,013 d add -8,013 add -8,013 add -8,013
Subvention payment tax adjustment 0 x* deduct
Interest tax shield 23,074 q deduct 23,074
Revaluations 0 r
Income tax 41,033 p deduct 41,033

Numerator

| | | | | 196,870 | 98,372 | 132,763 |
| | | Formula: | OSBIT^(AD) - a + d - g + s | NSAT^(A) - n - g + s - x* - d | OSBIT^(AD) - a + g - q + r |

| Fixed assets at end of previous financial year (FA_0) | 2,175,521 | |
| Fixed assets at end of current financial year (FA_1) | 2,538,962 | |
| Adjusted net working capital at end of previous financial year (ANWC_0) | -33,219 | |
| Adjusted net working capital at end of current financial year (ANWC_1) | -23,121 | |
| Average total funds employed (ATFE) | 2,228,616 | e | 2,228,616 | |
| Total equity at end of previous financial year (TE_0) | 1,138,324 | |
| Total equity at end of current financial year (TE_1) | 1,244,709 | |
| Average total equity (ATE) | 1,191,517 | k | | 1,191,517 | |
| WUC at end of previous financial year (W1_C_0) | 210,806 | |
| WUC at end of current financial year (WUC_1) | 251,421 | |
| Average total works under construction (ATWUC) | 231,114 | c | deduct 231,114 | deduct 231,114 | deduct 231,114 |
| Revaluations | 0 | r | |
| Half of revaluations | 0 | r/2 | | |
| Intangible assets at end of previous financial year (IA_0) | | |
| Intangible assets at end of current financial year (IA_1) | | |
| Average total intangible asset | 0 | m | deduct | |
| 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 | | |
| Subvention payment tax adjustment at end of current financial year | | |
| Average subvention payment & related tax adjustment | 0 | v | add | add |
| System fixed assets at end of previous financial year at book value (SF_Ξ”_0) | 1,919,000 | |
| System fixed assets at end of current financial year at book value (SF_Ξ”_1) | 2,028,000 | |
| Average value of system fixed assets at book value | 1,973,500 | f | deduct 1,973,500 | deduct 1,973,500 | deduct 1,973,500 |
| System fixed assets at year beginning at ODV value (SFA_ODV_0) | 2,031,000 | |
| System fixed assets at end of current financial year at ODV value | 2,025,000 | |
| Average value of system fixed assets at ODV value | 2,028,000 | h | add 2,028,000 | add 2,028,000 | add 2,028,000 |

Denominator

| | | | 2,052,002 | 1,914,903 | 2,052,002 |
| Formula: | | ATFE^(AD) = e - c - f + h | ATE^(A) = k - e - m | ATFE^(AD) = e - v, t_f - f + h |

Financial Performance Measure:

| | ROF = 9.6 | ROE = 9.7 | ROI = 6.5 |
| Formula: | ROF = (OSBIT^(AD) / ATFE^(AD)) x 100 | ROE = (NSAT^(A) / ATE^(A)) x 100 | ROI = (OSBIT^(AD) / ATFE^(AD)) x 100 |

  • t = maximum statutory income tax rate applying to corporate entities
  • bv = book value
  • avc = average
  • odv = optimised deprival valuation
  • subscript "0" = end of previous financial year
  • subscript "1" = end of the current financial year
  • ROF = return on funds
  • ROE = return on equity
  • ROI = return on investment


Next Page →



Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2007, No 134


Gazette.govt.nz — PDF NZ Gazette 2007, No 134




✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Lines Business Notes to the Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Subsidiaries, Holdings, Financial Statements, Transpower Group, Lines Business