Reconciliation of Net Cash Flows From Operations to Operating Balance
(for the year ended 30 June 2007)
| Forecast | Actual | |||
|---|---|---|---|---|
| Original Budget | Estimated Actual | 30 June 2007 | 30 June 2006 | |
| $m | $m | $m | $m | |
| Reconciliation Between the Net Cash Flows from Operations and the Operating Balance | ||||
| 7,683 | 11,150 | Net Cash Flows from Operations | 12,620 | 12,112 |
| Items included in the operating balance but not in net cash flows from operations | ||||
| Valuation Changes | ||||
| 17 | (323) | Decrease/(increase) in GSF pension liabilities | 920 | (279) |
| (674) | (1,742) | (Increase)/decrease in ACC liabilities | (1,020) | (1,321) |
| - | - | Decrease/(increase)/decrease NPF guarantee | 49 | (54) |
| - | - | Increase/(decrease) in commercial forests | 27 | 15 |
| (4) | (281) | Unrealised net foreign-exchange gains/(losses) | 42 | 502 |
| 548 | 525 | Other valuation changes | 516 | 1,242 |
| (113) | (1,821) | Total Valuation Changes | 534 | 105 |
|
Property, Plant and Equipment Asset Movements |
||||
| (2,918) | (3,099) | Depreciation | (3,144) | (2,708) |
| - | - | (Losses)/gains on sale of physical assets | (316) | 811 |
| (2,918) | (3,099) | Total Property, Plant and Equipment Movements | (3,460) | (1,897) |
| Other Non-Cash Items | ||||
| (167) | (817) | Student loans | (225) | (1,671) |
| (89) | (89) | Amortisation of goodwill | (99) | (75) |
| 808 | 1,060 | Other | 1,193 | 945 |
| 552 | 154 | Total Other Non-Cash Items | 869 | (801) |
| Movements in Working Capital | ||||
| 22 | (1,402) | (Decrease)/increase in taxes receivable | (1,145) | 3,225 |
| 307 | (825) | (Decrease)/increase in other receivables | (136) | 366 |
| 161 | 194 | Increase/(decrease) in inventories | 85 | (39) |
| 74 | 2,217 | (Increase)/decrease in payables | (704) | (1,598) |
| 564 | 184 | Total Movements in Working Capital | (1,900) | 1,954 |
| 5,768 | 6,568 | Operating Balance | 8,663 | 11,473 |
The accompanying notes and accounting policies are an integral part of these statements.
