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Budget 2010 Home Page 2010 Investment Statement of the Government of New Zealand

Historic and Forecast Balance Sheet Information

June Years 2003
Actual 		2004
 Actual 		2005
 Actual 		2006
 Actual 		2007
 Actual 		2008
 Actual		 2009
Actual		 2010
Actual		 2011
Forecast 		2012
Forecast		 2013
Forecast		 2014
Forecast		 2015
Forecast
$ millions OLD GAAP1 NZ IFRS
Nominal GDP ($ million) 134,318 144,902 154,069 161,591 171,650 182,478 184,546 189,295 202,398 213,495 225,232 236,656 247,667

Assets
Cash and cash equivalents 2,732 3,450 3,710 4,168 4,162 3,804 6,268 7,774 9,687 9,624 9,597 9,938 10,201
Receivables 10,143 10,587 10,883 14,474 12,057 14,158 14,619 13,884 14,970 14,026 13,563 13,530 13,886
Marketable securities, deposits and derivatives in gain 16,572 16,190 22,166 28,126 33,190 41,189 45,708 43,687 42,375 38,641 34,382 38,970 35,504
Share investments 4,734 8,446 10,896 15,394 13,581 12,964 11,160 12,179 13,704 16,945 19,627 22,379 25,346
Advances 6,300 7,445 8,536 8,758 10,728 12,948 15,604 18,447 19,642 23,354 24,181 24,407 24,600
Inventory 840 888 946 907 826 964 1,082 1,160 1,245 1,293 1,338 1,369 1,421
Other assets 576 510 453 898 1,527 1,663 1,630 1,661 1,705 1,703 1,709 1,705 1,703
Property, plant & equipment 52,667 57,940 67,494 79,441 95,598 103,329 110,135 113,330 117,328 120,491 123,140 125,865 127,749
Equity accounted investments 4,212 4,367 5,010 5,475 7,001 8,065 8,777 9,049 9,345 9,554 9,773 9,976 10,173
Intangible assets and goodwill 1,075 849 737 630 1,677 1,751 2,168 2,184 2,369 2,464 2,429 2,371 2,308
Forecast for new capital spending ..  ..  ..  ..  ..  ..  ..  ..  292 1,024 1,731 2,712 3,882
Top-down capital adjustment ..  ..  ..  ..  ..  ..  ..  ..  (350) (500) (500) (500) (500)
Total assets 99,851 110,672 130,831 158,271 180,347 200,835 217,151 223,355 232,312 238,619 240,970 252,722 256,273

Liabilities

  
Issued currency 2,895 3,009 3,197 3,362 3,444 3,530 4,005 4,020 4,137 4,344 4,561 4,789 5,028
Payables 9,208 9,848 11,371 12,469 8,077 10,895 9,139 9,931 9,562 10,092 10,226 10,705 11,117
Deferred revenue ..  ..  ..  ..  966 1,292 1,426 1,628 1,436 1,360 1,320 1,298 1,298
Borrowings 38,285 36,825 36,864 39,427 41,898 46,110 61,953 69,733 85,876 95,189 97,949 107,278 106,651
Insurance liabilities 9,155 9,347 11,384 12,715 17,418 20,484 26,567 27,131 29,604 30,464 32,001 33,685 35,557
Retirement plan liabilities 13,857 13,542 14,952 15,231 7,161 8,257 8,993 9,940 9,436 9,113 8,832 8,580 8,352
Provisions 2,670 2,638 3,080 3,664 4,556 4,753 5,553 5,984 6,452 6,353 6,620 6,003 5,146
Total liabilities 76,070 75,209 80,848 86,868 83,520 95,321 117,636 128,367 146,503 156,915 161,509 172,338 173,149
Net Worth 23,781 35,463 49,983 71,403 96,827 105,514 99,515 94,988 85,809 81,704 79,461 80,384 83,124



June Years
% GDP		 2003
 Actual 		2004
 Actual 		2005
 Actual 		2006
 Actual 		2007
 Actual 		2008
 Actual 		2009
Actual		 2010
Actual		 2011
Forecast 		2012
Forecast		 2013
Forecast		 2014
Forecast		 2015
Forecast
$ millions OLD GAAP1 NZ IFRS
Nominal GDP ($ million) 134,318 144,902 154,069 161,591 171,650 182,478 184,546 189,295 202,398 213,495 225,232 236,656 247,667

Assets

  
Cash and cash equivalents 2.0 2.4 2.4 2.6 2.4 2.1 3.4 4.1 4.8 4.5 4.3 4.2 4.1
Receivables 7.6 7.3 7.1 9.0 7.0 7.8 7.9 7.3 7.4 6.6 6.0 5.7 5.6
Marketable securities, deposits and derivatives in gain 12.3 11.2 14.4 17.4 19.3 22.6 24.8 23.1 20.9 18.1 15.3 16.5 14.3
Share investments 3.5 5.8 7.1 9.5 7.9 7.1 6.0 6.4 6.8 7.9 8.7 9.5 10.2
Advances 4.7 5.1 5.5 5.4 6.2 7.1 8.5 9.7 9.7 10.9 10.7 10.3 9.9
Inventory 0.6 0.6 0.6 0.6 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Other assets 0.4 0.4 0.3 0.6 0.9 0.9 0.9 0.9 0.8 0.8 0.8 0.7 0.7
Property, plant & equipment 39.2 40.0 43.8 49.2 55.7 56.6 59.7 59.9 58.0 56.4 54.7 53.2 51.6
Equity accounted investments 3.1 3.0 3.3 3.4 4.1 4.4 4.8 4.8 4.6 4.5 4.3 4.2 4.1
Intangible assets and goodwill 0.8 0.6 0.5 0.4 1.0 1.0 1.2 1.2 1.2 1.2 1.1 1.0 0.9
Forecast for new capital spending ..  ..  ..  ..  ..  ..  ..   ..  0.1 0.5 0.8 1.1 1.6
Top-down capital adjustment ..  ..  ..  ..  ..  ..  ..  ..  (0.2) (0.2) (0.2) (0.2) (0.2)
Total assets 74.3 76.4 84.9 97.9 105.1 110.1 117.7 118.0 114.8 111.8 107.0 106.8 103.5

Liabilities

  
Issued currency 2.2 2.1 2.1 2.1 2.0 1.9 2.2 2.1 2.0 2.0 2.0 2.0 2.0
Payables 6.9 6.8 7.4 7.7 4.7 6.0 5.0 5.2 4.7 4.7 4.5 4.5 4.5
Deferred revenue ..  ..  ..  ..  0.6 0.7 0.8 0.9 0.7 0.6 0.6 0.5 0.5
Borrowings 28.5 25.4 23.9 24.4 24.4 25.3 33.6 36.8 42.4 44.6 43.5 45.3 43.1
Insurance liabilities 6.8 6.5 7.4 7.9 10.1 11.2 14.4 14.3 14.6 14.3 14.2 14.2 14.4
Retirement plan liabilities 10.3 9.3 9.7 9.4 4.2 4.5 4.9 5.3 4.7 4.3 3.9 3.6 3.4
Provisions 2.0 1.8 2.0 2.3 2.7 2.6 3.0 3.2 3.2 3.0 2.9 2.5 2.1
Total liabilities 56.6 51.9 52.5 53.8 48.7 52.2 63.7 67.8 72.4 73.5 71.7 72.8 69.9
Net Worth 17.7 24.5 32.4 44.2 56.4 57.8 53.9 50.2 42.4 38.3 35.3 34.0 33.6

1 These numbers are based on the published Financial Statements of the Government as at 30 June and may differ to other numbers used in the Investment Statement which may be restated on a NZ IFRS basis.

Source: The Treasury

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