Financial Statements (continued)
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget $m | Estimated Actual $m | 30 June 2006 $m | 30 June 2005 $m | |
| Reconciliation Between the Net Cash Flows from Operations and the Operating Balance | ||||
| 8,943 | 10,632 | Net Cash Flows from Operations | 12,112 | 12,189 |
| Items included in the operating balance but not in net cash flows from operations | ||||
| Valuation Changes | ||||
| 24 | (409) | (Increase)/decrease in pension liabilities | (279) | (1,410) |
| (597) | (1,187) | (Increase)/decrease in ACC liabilities | (1,321) | (2,037) |
| - | - | (Increase)/decrease NPF guarantee | (54) | (53) |
| - | - | Increase/(decrease) in commercial forests | 15 | (23) |
| - | 42 | Unrealised net foreign-exchange gains/(losses) | 502 | 4 |
| 500 | 1,352 | Other valuation changes | 1,242 | 1,020 |
| (73) | (202) | Total Valuation Changes | 105 | (2,499) |
| Property, Plant and Equipment Asset Movements | ||||
| (2,744) | (2,715) | Depreciation | (2,708) | (2,528) |
| - | 630 | Gains/(losses) on sale of physical assets | 811 | (2) |
| (2,744) | (2,085) | Total Property, Plant and Equipment Movements | (1,897) | (2,530) |
| Other Non-Cash Items | ||||
| (45) | (1,740) | Student loans | (1,671) | (188) |
| (94) | (89) | Amortisation of goodwill | (75) | (97) |
| 606 | 1,256 | Other | 945 | 133 |
| 467 | (573) | Total Other Non-Cash Items | (801) | (152) |
| Movements in Working Capital | ||||
| (82) | 50 | Increase/(decrease) in taxes receivable | 3,225 | (202) |
| 149 | (500) | Increase/(decrease) in other receivables | 366 | 498 |
| 82 | 76 | (Decrease)/increase in inventories | (39) | 58 |
| (77) | 1,088 | (Increase)/decrease in payables | (1,598) | (1,115) |
| 72 | 714 | Total Movements in Working Capital | 1,954 | (761) |
| 6,665 | 8,486 | Operating Balance | 11,473 | 6,247 |
The accompanying notes and accounting policies are an integral part of these statements.
