✨ Financial Performance Measures
4908 NEW ZEALAND GAZETTE, No. 186 28 NOVEMBER 2008
SCHEDULE 1 - 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 | 220,060 | ||||
| Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIT) | 220,060 | ||||
| Interest on cash, bank balances, and short-term investments (ISTI) | 0 | ||||
| OSBIT minus ISTI | 220,060 | a | 220,060 | 220,060 | |
| Net surplus after tax from financial statements | 80,205 | ||||
| Net surplus after tax adjusted pursuant to regulation 18 (NSAT) | 80,205 | n | 80,205 | ||
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add 0 | add 0 | add 0 |
| Subvention payment | 0 | s | add 0 | add 0 | add 0 |
| Depreciation of SFA at BV (x) | 0 | ||||
| Depreciation of SFA at ODV (y) | 0 | ||||
| ODV depreciation adjustment | 0 | d | add 0 | add 0 | add 0 |
| Subvention payment tax adjustment | 0 | s*t | deduct | deduct | |
| Interest tax shield | 25,089 | q | deduct 25,089 | ||
| Revaluations | 0 | r | add 0 | ||
| Income tax | 37,153 | p | deduct | deduct 37,153 | |
| Numerator | 220,060 | 80,205 | 157,818 | ||
| OSBIT^ADJ = a - g + s + d | NSAT^ADJ = n + g - s - s*t + q - p | OSBIT^ADJ = a - g + s + d - q + r + p + s*t |
| Fixed assets at end of previous financial year (FA_p) | 2,332,976 | ||||
| Fixed assets at end of current financial year (FA_c) | 2,523,384 | ||||
| Adjusted net working capital at end of previous financial year (ANWC_p) | -37,701 | ||||
| Adjusted net working capital at end of current financial year (ANWC_c) | -101,554 | ||||
| Average total funds employed (ATFE) (or regulation 33 time-weighted average) | 2,359,553 | c | 2,359,553 | 2,359,553 | |
| Total equity at end of previous financial year (TE_p) | 1,153,414 | ||||
| Total equity at end of current financial year (TE_c) | 1,233,016 | ||||
| Average total equity (or regulation 33 time-weighted average) | 1,193,215 | k | 1,193,215 | ||
| WUC at end of previous financial year (WUC_p) | 251,421 | ||||
| WUC at end of current financial year (WUC_c) | 316,765 | ||||
| Average total works under construction (or regulation 33 time-weighted average) | 284,093 | e | deduct 284,093 | deduct 284,093 | deduct 284,093 |
| Revaluations | 0 | r | |||
| Half of revaluations | 0 | r/2 | deduct 0 | ||
| Intangible assets at end of previous financial year (IA_p) | 0 | ||||
| Intangible assets at end of current financial year (IA_c) | 0 | ||||
| Average total intangible asset (or regulation 33 time-weighted average) | 0 | m | deduct 0 | ||
| Subvention payment at end of previous financial year (S_p) | 0 | ||||
| Subvention payment at end of current financial year (S_c) | 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 (SFA_bv0) | 0 | ||||
| System fixed assets at end of current financial year at book value (SFA_bv1) | 0 | f | deduct 0 | deduct 0 | deduct 0 |
| Average value of system fixed assets at book value (or regulation 33 time-weighted average) | 0 | ||||
| System Fixed assets at year beginning at ODV value (SFA_odv0) | 0 | ||||
| System Fixed assets at end of current financial year at ODV value (SFA_odv1) | 0 | ||||
| Average value of system fixed assets at ODV value (or regulation 33 time-weighted average) | 0 | h | add 0 | add 0 | add 0 |
| Denominator | 2,075,460 | 909,122 | 2,075,460 | ||
| ATFE^ADJ = c - e - f + h | Ave TE^ADJ = k - e - m + v | ATFE^ADJ = c - e - f + h |
| Financial Performance Measure: | 10.6 | 8.8 | 7.6 |
|---|
ROF = OSBIT^ADJ / ATFE^ADJ x 100
ROE = NSAT^ADJ / ATFE^ADJ x 100
ROI = OSBIT^ADJ / ATFE^ADJ x 100
t = maximum statutory income tax rate applying to corporate entities
bv = book value
ave = average
odv = optimised deprival valuation (Transpower does not perform an ODV)
subscript '0' = end of financial year
subscript '1' = end of the current financial year
ROF = return on funds
Transpower has included intangible assets with property, plant and equipment in the calculation of these ratios reflecting the nature of the intangible assets.
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NZ Gazette 2008, No 186
✨ LLM interpretation of page content
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Restated Financial Information under NZ IFRS for Transpower New Zealand Limited Lines Business
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