Statement of Comprehensive Revenue and Expense

2014 Actual $000

Notes

2015 Actual $000

2015 Budget (unaudited) $000

2015 Supplementary estimates (unaudited) $000

2016 Forecast* (unaudited) $000

Revenue

1,174,817

Crown

1,196,843

1,153,604

1,196,843

1,241,616

364

Departmental revenue

215

–

300

–

41,370

Other revenue

2

46,777

31,885

43,148

32,180

139

Dividend revenue

362

–

–

–

1,216,690

Total operating revenue

1,244,197

1,185,489

1,240,291

1,273,796

Expenses

539,484

Personnel costs

3

544,058

543,065

553,069

539,916

342,534

Operating costs

4

346,787

312,942

339,156

346,123

122,401

Depreciation and amortisation

134,142

145,638

137,310

157,700

183,588

Capital charge

5

201,107

183,844

201,156

196,057

–

Finance costs

10

4,067

–

4,100

34,000

1,118

Earthquake related

–

–

–

–

1,189,125

Total operating expenses

1,230,161

1,185,489

1,234,791

1,273,796

27,565

Net operating surplus

14,036**

–

5,500

–

Remeasurements

(4,480)

Unrealised decrease/(increase) in fair value of biological assets

12

1,193

–

–

–

–

Realised decrease/(increase) in fair value of biological assets

12

7,714

–

–

–

1,719

Unrealised decrease/(increase) in fair value of shares

1,084

–

–

–

–

Unrealised change in discount rates for retiring and long service leave

2,071

–

–

–

(2,761)

Total remeasurements

12,062

–

–

–

30,326

Net surplus

1,974

–

5,500⁺

–

Other comprehensive revenue and expense

218,644

Revaluation (losses)/gains on land and buildings

(422)

–

–

–

218,644

Total other comprehensive revenue and expense

(422)

–

–

–

248,970

Total comprehensive revenue and expense

1,552

–

5,500

–