Table 25 - Reconciliation between GAAP and GFS operating balance
|
2011 Actual $m |
2012 Forecast $m |
2013 Forecast $m |
2014 Forecast $m |
2015 Forecast $m |
2016 Forecast $m |
|
|---|---|---|---|---|---|---|
| Operating balance per GAAP | (13,360) | (10,642) | (5,699) | 366 | 2,735 | 4,814 |
| Remove gains/losses and net surpluses from associates and joint ventures | (5,036) | 2,201 | (2,198) | (2,379) | (2,538) | (2,712) |
| Operating balance before gains and losses (OBEGAL) | (18,396) | (8,441) | (7,897) | (2,013) | 197 | 2,102 |
| Remove SOE portion of OBEGAL (incl. eliminations) | 81 | 173 | (126) | (128) | (260) | (232) |
| Remove ETS expenses | 838 | 668 | 237 | 248 | 449 | 618 |
| Remove impairments and write-offs on financial assets | 1,997 | 1,850 | 2,590 | 2,630 | 2,469 | 2,596 |
| Remove expenses relating to earthquake provisions | 1,121 | 160 | 1,185 | 381 | 90 | 31 |
| Tertiary institutions included on a line-by-line basis | 168 | 170 | 168 | 168 | 170 | 169 |
| Reserve Bank (equity accounted) | 255 | 124 | (125) | (62) | (181) | (269) |
| Other adjustments | 30 | 6 | 4 | 1 | (1) | 7 |
| Net operating balance per GFS | (13,906) | (5,290) | (3,964) | 1,225 | 2,933 | 5,022 |
