2012-13 Government Mid-year Financial Projections Statement

Appendix 1PUBLIC NON-FINANCIAL CORPORATIONSBalance Sheet at 30 JuneTable 1.5Note 2012 2013 2013 2014 2015 2016Budget Mid-year Mid-year Mid-year Mid-yearActual Estimate Revision Revision Revision Revision$m $m $m $m $m $mASSETSFinancial assetsCash and deposits 1,090 903 1,162 1,190 1,355 1,402Advances paid - - - - - -Investments, loans and placements 4,009 5,469 5,499 5,488 5,485 5,704Receivables 1,278 1,201 1,181 1,237 1,372 1,481Investment property 27 21 27 27 27 27Shares and other equityInvestments in other public sector entities - equity method - - - - - -Investments in other public sector entities - direct injections - - - - - -Investments in other entities 19 28 8 - - -Other financial assets 1,028 1,003 1,003 947 912 866Total financial assets 7,450 8,625 8,880 8,890 9,150 9,478Non-financial assetsLand 14,152 14,822 16,189 17,221 17,942 17,510Property, plant and equipment 45,828 46,609 47,419 48,791 49,857 50,935Biological assets 333 341 329 326 320 314InventoriesLand inventories 1,736 1,933 2,013 2,122 2,175 2,059Other inventories 3,379 3,843 3,498 3,516 3,522 3,611Intangibles 418 264 374 365 349 324Non-current assets held for sale 19 28 19 19 19 19Other 172 117 109 103 103 116Total non-financial assets 66,037 67,957 69,950 72,464 74,288 74,887TOTAL ASSETS 73,488 76,582 78,830 81,354 83,438 84,365LIABILITIESDeposits held 3 - 3 3 3 3Advances received 454 440 439 424 408 393Borrow ings 18,609 20,598 21,152 21,939 22,695 23,297Unfunded superannuation 150 82 115 78 40 2Other employee benefits 397 369 397 400 404 406Payables 4,258 4,610 4,280 4,373 4,439 4,530Other liabilities 1,972 1,510 2,057 1,999 1,970 1,958TOTAL LIABILITIES 25,841 27,610 28,442 29,215 29,960 30,588NET ASSETS 47,647 48,972 50,388 52,139 53,478 53,777Of which:Contributed equity 5,544 6,077 6,056 6,465 6,790 7,130Accumulated surplus 18,961 18,749 18,213 17,957 17,750 17,573Other reserves 23,142 24,146 26,120 27,717 28,937 29,074NET WORTH 6 47,647 48,972 50,388 52,139 53,478 53,777MEMORANDUM ITEMSNet financial worth -66,037 -67,957 -69,950 -72,464 -74,288 -74,887Net debtGross debt liabilities 19,065 21,038 21,594 22,365 23,107 23,692less : liquid financial assets 5,099 6,372 6,662 6,678 6,839 7,105less: convergence differences impacting net debt - - - - - -Net debt 13,966 14,666 14,932 15,687 16,268 16,587Note: Columns may not add due to rounding.77