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Statement of Financial Position (as at 30 June 2005)

Forecast Actual
Original Budget $m Estimated Actual $m Note 30 June 2005 $m 30 June 2004 $m
Assets
2,121 3,281 Cash and bank 8 3,710 3,450
23,296 31,612 Marketable securities, deposits & equity investments 8 33,062 24,636
8,921 8,859 Advances 9 8,536 7,445
9,952 10,102 Receivables 10 10,883 10,587
958 938 Inventories 946 888
253 221 Other investments 11 221 259
56,194 60,602 Property, plant and equipment 12 67,494 57,940
291 232 Commercial forests 232 251
4,610 4,518 Investment in TEIs 13 5,010 4,367
1,010 718 Intangible assets (including goodwill) 14 737 849
228 - Forecast for new capital spending - -
107,834 121,083 Total Assets 130,831 110,672
Liabilities
10,127 13,333 Payables and provisions 15 14,451 12,486
3,072 3,197 Currency issued 3,197 3,009
26,620 28,383 Borrowings - sovereign guaranteed 28,645 29,958
8,237 7,983 Borrowing - non-sovereign guaranteed 8,219 6,867
14,014 14,946 GSF Pension liability 16 14,952 13,542
10,361 11,384 ACC claims liability 17 11,384 9,347
72,431 79,226 Total Liabilities 80,848 75,209
35,403 41,857 Total Assets less Total Liabilities 49,983 35,463
Net Worth
19,721 21,399 Taxpayer funds 21,780 15,486
15,682 20,458 Revaluation reserve 18 27,988 19,838
- - Minority interest 215 139
35,403 41,857 Net Worth 49,983 35,463

The accompanying notes and accounting policies are an integral part of these statements.

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