✨ Financial Performance Measures
29 NOVEMBER 2010 NEW ZEALAND GAZETTE, No. 159 4039
TRANSPOWER NEW ZEALAND LIMITED (LINE BUSINESS)
SCHEDULE 1: PART 7
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
| Description Table | Input and Calculations | Symbol in formula | ROF | ROE | RCH |
|---|---|---|---|---|---|
| Operating surplus before interest and income tax from financial statements | |||||
| Operating surplus before interest and income tax as adjusted pursuant to regulation 18 (OSBIF) | 274,993 | ||||
| Interest on cash, bank balances, and short-term investments (SIT) | 0 | ||||
| OSBIF minus SIT | 274,993 | a | 274,991 | ||
| Net surplus after tax from financial statements | 29,745 | ||||
| Net surplus after tax as adjusted pursuant to regulation 18 (NSAT) | n | 29,745 | |||
| Amortisation of goodwill and amortisation of other intangibles | 0 | g | add | add | add |
| Subvention payment | 0 | ||||
| Depreciation of SFA at BV (X) | |||||
| Depreciation of SFA at ODV (y) | |||||
| Depreciation adjustment | 0 | d | add | add | add |
| Subvention payment tax adjustment | 0 | q' | |||
| Interest tax shield | 30,630 | q | deduct | 30,630 | |
| Revaluations | 0 | r | |||
| Income tax | 27,155 | p | 27,155 | ||
| Numerator | OSBIF^(ADJ) = a + g + d | NSAT^(ADJ) = n + g + s + d + e | RCH^(ADJ) = a + p | ||
| 274,993 | 29,745 | 274,990 |
| Fixed assets at end of previous financial year (FA) | 2,706,454 | | | | |
| Fixed assets at end of current financial year (IFA) | 3,070,074 | | | | |
| Adjusted networking capital at end of previous financial year (ANWC) | -65,531 | | | | |
| Adjusted networking capital at end of current financial year (ANWC) | -81,832 | | | | |
| Average total funds employed (ATFE) | 2,823,933 | c | | 2,823,933 | |
| (per regulation 33 time-weighted average) | | | | | |
| Total equity at end of previous financial year (TE) | 1,313,381 | | | | |
| Total equity at end of current financial year (TE) | 1,344,426 | | | | |
| Average total equity | 1,328,954 | k | | 1,328,954 | |
| (per regulation 33 time-weighted average) | | | | | |
| WUC at end of previous financial year (WUC) | 439,816 | | | | |
| WUC at end of current financial year (WUCI) | 474,561 | | | | |
| Average total works under construction | 457,189 | e | deduct | 457,189 | deduct |
| (per regulation 33 time-weighted average) | | | | | |
| Revaluations | 0 | r/2 | | | |
| Half of revaluations | | | | | |
| Intangible assets at end of previous financial year (IA) | 46,535 | | | | |
| Intangible assets at end of current financial year (IA) | 120,804 | | | | |
| Average both intangible asset | 33,720 | m | | deduct | 33,720 |
| (per regulation 33 time-weighted average) | | | | | |
| Subvention payment at end of previous financial year (S) | 0 | | | | |
| Subvention payment at end of current financial year | 0 | | | | |
| Subvention payment tax adjustment at end of previous financial year | 0 | | | | |
| Subvention payment tax adjustment at end of current financial year | 0 | v | | | |
| Average subvention payment & related tax adjustment | | add | | |
| System fixed assets at end of previous financial year at book value (SFA) | | f | deduct | |
| Average value of system fixed assets at book value | | | deduct |
| (per regulation 33 time-weighted average) | | | | | |
| System fixed assets at year beginning to ODV value (SFAd) | | | deduct | | |
| System Fixed assets at end of current financial year at ODV value (SFAi) | | | add | add | |
| Average value of system fixed assets at ODV value | | h | | | |
| (per regulation 33 time-weighted average) | | | | | |
| Denominator | | | ATFE^(ADJ) = c - e + f + h | ATE^(ADJ) = k - e - m + f + h | ATFE^(ADJ) = c - e - ½*r + h |
| | | | 2,366,744 | 767,346 | 2,360,744 |
Financial Performance Measure:
| ROF = OSBIF^(ADJ)/ATFE^(ADJ) x 100 | ROE = NSAT^(ADJ)/ATE^(ADJ) x 100 | ROI = OSBIF^(ADJ)/ATFE^(ADJ) x 100 | |
|---|---|---|---|
| 11.6 | 3.9 | 9.2 |
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 “u” = end of financial year. Subscript “t” = 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 2010, No 159
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Transpower New Zealand Limited Contingencies
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