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18-chapter8-summaries

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					Sheet   Name                                Juisdiction
ARTC    Australian Rail Track Corporation   AG
QR      Queensland Rail                     QLD
RC      Rail Corporation NSW                NSW
RIC     Rail Infrastructure Corporation     NSW
VLPC    V/line Passenger Corporation        VIC
VT      VicTrack                            VIC
Rail Infrastructure Corporation
NSW
                                                            Pre-AIFRS    AIFRS
Source Data                                         Unit      2004-05   2004-05    2005-06   2006-07
INCOME STATEMENT
Total Income (R1)                                   $'000     545 620    526 145   477 473   191 584
 Revenue before movements in fair value (R2)        $'000     545 620    545 441   464 513   236 294
   Operating revenue (R2.1)                         $'000     469 607    469 215   190 038   159 887
      CSO revenue (R2.1.1)                          $'000     133 000    133 000   121 500   130 000
      Other operating revenue (R2.1.2)              $'000     336 607    336 215    68 538    29 887
   Non-operating revenue (R2.2)                     $'000      76 013     76 226   274 475    76 407
      Grants (R2.2.1)                               $'000      77 898     78 290   271 100    59 500
      Investment income (R2.2.2)                    $'000       1 912      1 912     3 832    12 886
      Other non-operating revenue (R2.2.3)          $'000      -3 797     -3 976     - 457     4 021
 Net income from movements in fair value (R3)       $'000           –    -19 296    12 960   -44 710

Total expense (excl. tax) (E1)                      $'000     691 410    668 996   455 568   341 768
 Financing costs (E1.1)                             $'000       2 551      4 948     5 580         –
 Other expenses (operating expenses) (E1.2)         $'000     688 859    664 048   449 988   341 768
Total tax expense (T1)                              $'000           –          –         –         –
 Tax on profit before fair value movements (T1.1)   $'000           –          –         –         –
 Tax on movements in fair value movements (T1.2)    $'000           –          –         –         –
BALANCE SHEET
Total assets (A1)                                   $'000    2378 624   2380 038 2341 749 2303 327
Current assets (A1.1)                               $'000      50 267     50 295 157 208    88 756
 Operating (A1.1.1)                                 $'000      49 693     50 295 157 208    88 756
 Non-operating (A1.1.2)                             $'000         574          –        –        –
Non-current assets (A1.2)                           $'000    2328 357   2329 743 2184 541 2214 571
 Operating (A1.2.1)                                 $'000    2328 357   2329 743 2184 541 2214 571
 Non-operating (A1.2.2)                             $'000           –          –        –        –

Total liabilities (L1)                              $'000     273 175    304 171   294 767   291 192
Current liabilities (L1.1)                          $'000     119 447    154 799   183 314   153 466
 Operating (L1.1.1)                                 $'000     118 831    154 799   183 314   153 466
   Debt (L1.1.1.1)                                  $'000      12 900     12 900         –         –
   Other operating liabilities (L1.1.1.2)           $'000     105 931    141 899   183 314   153 466
 Non-operating (L1.1.2)                             $'000         616          –         –         –
Non-current liabilities (L1.2)                      $'000     153 728    149 372   111 453   137 726
 Operating (L1.2.1)                                 $'000     153 728    149 372   111 453   137 726
   Debt (L1.2.1.1)                                  $'000      21 288     21 288         –         –
   Other operating liabilities (L1.2.1.2)           $'000     132 440    128 084   111 453   137 726
 Non-operating (L1.2.2)                             $'000           –          –         –         –

OTHER
Dividends                                           $'000           –         –         –         –
Intemediate Data                         Unit    2004-05      2004-05      2005-06    2006-07
 Operating assets                        $'000   2378 050     2380 038     2341 749   2303 327
 Operating liabilities                   $'000    272 559      304 171      294 767    291 192
 Operating equity                        $'000   2105 491     2075 867     2046 982   2012 135
 Total equity                            $'000   2105 449     2075 867     2046 982   2012 135
 Profit before tax                       $'000   -145 790     -123 555        8 945   -105 474
 EBIT                                    $'000   -143 239     -118 607       14 525   -105 474
 EBIT from operations                    $'000   -219 252     -194 833     -259 950   -181 881
 Operating profit after tax              $'000   -219 252     -194 833     -259 950   -181 881
Indicators                               Unit    2004-05      2004-05      2005-06    2006-07
Size
  Total Assets                             $m       2 379        2 380        2 342      2 303
  Total Income                             $m         546          526          477        192
Profitability indicators
  Profit before tax                      $'000   -145 790     -123 555         8 945 -105 474
  Operating profit margin                   %       - 46.7       - 41.5      - 136.8   - 113.8
  Cost recovery                             %         68.2         70.7          42.2     46.8
  Return on average operating assets        %         - 6.0        - 5.0          0.6     - 4.5
  Return on average total equity            %       - 10.4         - 9.4       - 12.6     - 9.0
  Return on average operating equity        %       - 10.4         - 9.4       - 12.6     - 9.0
Financial management indicators
  Debt to equity                            %          1.6          1.6           –          –
  Debt to average operating assets          %          1.4          1.4           –          –
  Liabilities to total equity               %         13.0         14.7        14.4       14.5
  Liabilities to operating equity           %         12.9         14.7        14.4       14.5
  Interest cover                         times      - 56.2       - 24.0         2.6         na
  Current ratio                             %         41.8         32.5        85.8       57.8
  Leverage ratio                            %       112.9        114.7        114.4      114.5
Transactions with government
 Dividends                               $'000          –            –            –          –
 Dividends to average operating equity      %           –            –            –          –
 Dividend payout ratio                      %           –            –            –          –
 Income tax expense                      $'000          –            –            –          –
 Grant revenue ratio                        %        14.3         14.4         58.4       25.2
 CSO funding                             $'000    133 000      133 000      121 500    130 000
Rail Corporation NSW
NSW
                                                             Pre-AIFRS     AIFRS
Source Data                                          Unit      2004-05     2004-05   2005-06    2006-07
INCOME STATEMENT
Total Income (R1)                                    $'000    2339 334    2280 667   2642 240   2945 903
  Revenue before movements in fair value (R2)        $'000    2339 334    2341 050   2543 248   2843 531
    Operating revenue (R2.1)                         $'000    1725 868    1902 312   2039 639   2251 914
       CSO revenue (R2.1.1)                          $'000    1041 505    1216 305   1314 927   1481 269
       Other operating revenue (R2.1.2)              $'000     684 363     686 007    724 712    770 645
    Non-operating revenue (R2.2)                     $'000     613 466     438 738    503 609    591 617
       Grants (R2.2.1)                               $'000     599 550     424 822    474 170    555 584
       Investment income (R2.2.2)                    $'000      34 602      34 602     46 578     54 761
       Other non-operating revenue (R2.2.3)          $'000     -20 686     -20 686    -17 139    -18 728
  Net income from movements in fair value (R3)       $'000           –     -60 383     98 992    102 372

Total expense (excl. tax) (E1)                       $'000    2246 753    2260 392   2399 085   2474 555
  Financing costs (E1.1)                             $'000           –         251      2 324      3 632
  Other expenses (operating expenses) (E1.2)         $'000    2246 753    2260 141   2396 761   2470 923
Total tax expense (T1)                               $'000           –           –          –          –
  Tax on profit before fair value movements (T1.1)   $'000           –           –          –          –
  Tax on movements in fair value movements (T1.2)    $'000           –           –          –          –
BALANCE SHEET
Total assets (A1)                                    $'000 12187 655     12125 165 12547 165 13313 179
Current assets (A1.1)                                $'000   466 682       499 757   468 927   541 911
  Operating (A1.1.1)                                 $'000   444 757       499 757   466 749   541 152
  Non-operating (A1.1.2)                             $'000    21 925             –     2 178       759
Non-current assets (A1.2)                            $'000 11720 973     11625 408 12078 238 12771 268
  Operating (A1.2.1)                                 $'000 11720 973     11568 118 12020 939 12700 866
  Non-operating (A1.2.2)                             $'000         –        57 290    57 299    70 402

Total liabilities (L1)                               $'000     729 646     823 742    829 484    951 920
Current liabilities (L1.1)                           $'000     548 037     696 571    704 977    816 489
  Operating (L1.1.1)                                 $'000     534 936     696 571    704 902    815 325
    Debt (L1.1.1.1)                                  $'000           –           –      5 785     10 128
    Other operating liabilities (L1.1.1.2)           $'000     534 936     696 571    699 117    805 197
  Non-operating (L1.1.2)                             $'000      13 101           –         75      1 164
Non-current liabilities (L1.2)                       $'000     181 609     127 171    124 507    135 431
  Operating (L1.2.1)                                 $'000     174 246     127 171    124 507    135 431
    Debt (L1.2.1.1)                                  $'000           –           –     10 311      5 789
    Other operating liabilities (L1.2.1.2)           $'000     174 246     127 171    114 196    129 642
  Non-operating (L1.2.2)                             $'000       7 363           –          –          –

OTHER
Dividends                                            $'000           –          –          –          –
Intemediate Data                          Unit    2004-05        2004-05     2005-06      2006-07
  Operating assets                        $'000 12165 730      12067 875 12487 688 13242 018
  Operating liabilities                   $'000   709 182        823 742   829 409   950 756
  Operating equity                        $'000 11456 548      11244 133 11658 279 12291 262
  Total equity                            $'000 11458 009      11301 423 11717 681 12361 259
  Profit before tax                       $'000    92 581         80 658   144 163   368 976
  EBIT                                    $'000    92 581         80 909   146 487   372 608
  EBIT from operations                    $'000 -520 885        -357 829 -357 122 -219 009
  Operating profit after tax              $'000 -520 885        -357 829 -357 122 -219 009
Indicators                                Unit    2004-05        2004-05     2005-06      2006-07
Size
  Total Assets                              $m      12 188        12 125       12 547       13 313
  Total Income                              $m       2 339         2 281        2 642        2 946
Profitability indicators
  Profit before tax                       $'000     92 581        80 658      144 163      368 976
  Operating profit margin                    %       - 30.2        - 18.8       - 17.5        - 9.7
  Cost recovery                              %         76.8          84.2         85.1        91.1
  Return on average operating assets         %           0.8           0.7          1.2         2.9
  Return on average total equity             %         - 4.5         - 3.2        - 3.1       - 1.8
  Return on average operating equity         %         - 4.5         - 3.2        - 3.1       - 1.8
Financial management indicators
  Debt to equity                             %           –             –          0.1          0.1
  Debt to average operating assets           %           –             –          0.1          0.1
  Liabilities to total equity                %         6.4           7.3          7.1          7.7
  Liabilities to operating equity            %         6.2           7.3          7.1          7.7
  Interest cover                          times         na         322.3         63.0        102.6
  Current ratio                              %        83.1          71.7         66.2         66.4
  Leverage ratio                             %       106.2         107.3        107.1        107.7
Transactions with government
  Dividends                               $'000          –             –            –            –
  Dividends to average operating equity      %           –             –            –            –
  Dividend payout ratio                      %           –             –            –            –
  Income tax expense                      $'000          –             –            –            –
  Grant revenue ratio                        %        25.6          18.1         18.6         19.5
  CSO funding                             $'000   1041 505      1216 305     1314 927     1481 269
V/line Passenger Corporation
VIC
                                                            Pre-AIFRS    AIFRS
Source Data                                         Unit      2004-05   2004-05   2005-06   2006-07
INCOME STATEMENT
Total Income (R1)                                   $'000     214 890   214 890   246 697   318 941
 Revenue before movements in fair value (R2)        $'000     214 890   214 890   246 697   318 941
   Operating revenue (R2.1)                         $'000      51 127    51 127    54 336    62 478
      CSO revenue (R2.1.1)                          $'000           –         –         –         –
      Other operating revenue (R2.1.2)              $'000      51 127    51 127    54 336    62 478
   Non-operating revenue (R2.2)                     $'000     163 763   163 763   192 361   256 463
      Grants (R2.2.1)                               $'000     155 538   155 538   191 653   255 872
      Investment income (R2.2.2)                    $'000         544       544       708       591
      Other non-operating revenue (R2.2.3)          $'000       7 681     7 681         –         –
 Net income from movements in fair value (R3)       $'000           –         –         –         –

Total expense (excl. tax) (E1)                      $'000     215 540   215 540   250 758   342 314
 Financing costs (E1.1)                             $'000           –         –         –         –
 Other expenses (operating expenses) (E1.2)         $'000     215 540   215 540   250 758   342 314
Total tax expense (T1)                              $'000           –         –         –         –
 Tax on profit before fair value movements (T1.1)   $'000           –         –         –         –
 Tax on movements in fair value movements (T1.2)    $'000           –         –         –         –
BALANCE SHEET
Total assets (A1)                                   $'000     183 482   183 482   185 145   182 977
Current assets (A1.1)                               $'000      11 458    11 458    15 059    18 224
 Operating (A1.1.1)                                 $'000      11 458    11 458    15 059    18 224
 Non-operating (A1.1.2)                             $'000           –         –         –         –
Non-current assets (A1.2)                           $'000     172 024   172 024   170 086   164 753
 Operating (A1.2.1)                                 $'000     172 024   172 024   170 086   164 753
 Non-operating (A1.2.2)                             $'000           –         –         –         –

Total liabilities (L1)                              $'000      57 995    57 995    64 089    85 294
Current liabilities (L1.1)                          $'000      31 668    57 197    62 824    83 652
 Operating (L1.1.1)                                 $'000      31 668    57 197    62 824    83 652
   Debt (L1.1.1.1)                                  $'000           –         –         –         –
   Other operating liabilities (L1.1.1.2)           $'000      31 668    57 197    62 824    83 652
 Non-operating (L1.1.2)                             $'000           –         –         –         –
Non-current liabilities (L1.2)                      $'000      26 327       798     1 265     1 642
 Operating (L1.2.1)                                 $'000      26 327       798     1 265     1 642
   Debt (L1.2.1.1)                                  $'000           –         –         –         –
   Other operating liabilities (L1.2.1.2)           $'000      26 327       798     1 265     1 642
 Non-operating (L1.2.2)                             $'000           –         –         –         –

OTHER
Dividends                                           $'000           –        –         –         –
Intemediate Data                         Unit    2004-05     2004-05     2005-06     2006-07
 Operating assets                        $'000    183 482     183 482 185 145 182 977
 Operating liabilities                   $'000     57 995      57 995   64 089   85 294
 Operating equity                        $'000    125 487     125 487 121 056    97 683
 Total equity                            $'000    125 487     125 487 121 056    97 683
 Profit before tax                       $'000      - 650       - 650   -4 061 -23 373
 EBIT                                    $'000      - 650       - 650   -4 061 -23 373
 EBIT from operations                    $'000   -164 413    -164 413 -196 422 -279 836
 Operating profit after tax              $'000   -164 413    -164 413 -196 422 -279 836
Indicators                               Unit    2004-05     2004-05     2005-06     2006-07
Size
  Total Assets                             $m        183         183         185         183
  Total Income                             $m        215         215         247         319
Profitability indicators
  Profit before tax                      $'000      - 650       - 650      -4 061    -23 373
  Operating profit margin                   %     - 321.6     - 321.6     - 361.5     - 447.9
  Cost recovery                             %        23.7        23.7        21.7         18.3
  Return on average operating assets        %        - 0.4       - 0.4       - 2.2      - 12.7
  Return on average total equity            %     - 131.0     - 131.0     - 159.3     - 255.9
  Return on average operating equity        %     - 131.0     - 131.0     - 159.3     - 255.9
Financial management indicators
  Debt to equity                            %          –           –           –           –
  Debt to average operating assets          %          –           –           –           –
  Liabilities to total equity               %       46.2        46.2        52.9        87.3
  Liabilities to operating equity           %       46.2        46.2        52.9        87.3
  Interest cover                         times        na          na          na          na
  Current ratio                             %       36.2        20.0        24.0        21.8
  Leverage ratio                            %      146.2       146.2       152.9       187.3
Transactions with government
 Dividends                               $'000          –           –           –          –
 Dividends to average operating equity      %           –           –           –          –
 Dividend payout ratio                      %           –           –           –          –
 Income tax expense                      $'000          –           –           –          –
 Grant revenue ratio                        %        72.4        72.4        77.7       80.2
 CSO funding                             $'000          –           –           –          –
VicTrack
VIC
                                                            Pre-AIFRS    AIFRS
Source Data                                         Unit      2004-05   2004-05    2005-06    2006-07
INCOME STATEMENT
Total Income (R1)                                   $'000     860 950    856 126 1094 722 1244 405
 Revenue before movements in fair value (R2)        $'000     860 950    856 126 1094 722 1244 405
   Operating revenue (R2.1)                         $'000     628 418    628 418 829 303 913 024
      CSO revenue (R2.1.1)                          $'000           –          –        –        –
      Other operating revenue (R2.1.2)              $'000     628 418    628 418 829 303 913 024
   Non-operating revenue (R2.2)                     $'000     232 532    227 708 265 419 331 381
      Grants (R2.2.1)                               $'000     145 192    140 368 162 604 226 142
      Investment income (R2.2.2)                    $'000       3 217      3 217    3 347    3 237
      Other non-operating revenue (R2.2.3)          $'000      84 123     84 123   99 468 102 002
 Net income from movements in fair value (R3)       $'000           –          –        –        –

Total expense (excl. tax) (E1)                      $'000     900 148    893 220 1098 015 1193 061
 Financing costs (E1.1)                             $'000      72 935     94 392 102 664 101 486
 Other expenses (operating expenses) (E1.2)         $'000     827 213    798 828 995 351 1091 575
Total tax expense (T1)                              $'000           –     -8 053    2 761   18 601
 Tax on profit before fair value movements (T1.1)   $'000           –     -8 053    2 761   18 601
 Tax on movements in fair value movements (T1.2)    $'000           –          –        –        –
BALANCE SHEET
Total assets (A1)                                   $'000    6314 915   6583 412 6834 001 7169 614
Current assets (A1.1)                               $'000     158 677    158 677   75 141   63 510
 Operating (A1.1.1)                                 $'000     158 677    158 677   75 141   63 510
 Non-operating (A1.1.2)                             $'000           –          –        –        –
Non-current assets (A1.2)                           $'000    6156 238   6424 735 6758 860 7106 104
 Operating (A1.2.1)                                 $'000    6096 158   6361 318 6695 443 7042 687
 Non-operating (A1.2.2)                             $'000      60 080     63 417   63 417   63 417

Total liabilities (L1)                              $'000    1005 280   1467 714   1443 247   1415 039
Current liabilities (L1.1)                          $'000      46 337     69 124     89 956     99 812
 Operating (L1.1.1)                                 $'000      46 337     69 124     89 956     99 812
   Debt (L1.1.1.1)                                  $'000      29 400     52 187     70 099     73 584
   Other operating liabilities (L1.1.1.2)           $'000      16 937     16 937     19 857     26 228
 Non-operating (L1.1.2)                             $'000           –          –          –          –
Non-current liabilities (L1.2)                      $'000     958 943   1398 590   1353 291   1315 227
 Operating (L1.2.1)                                 $'000     958 943   1223 607   1176 657   1119 992
   Debt (L1.2.1.1)                                  $'000     953 643   1218 307   1171 670   1115 082
   Other operating liabilities (L1.2.1.2)           $'000       5 300      5 300      4 987      4 910
 Non-operating (L1.2.2)                             $'000           –    174 983    176 634    195 235

OTHER
Dividends                                           $'000       5 000      5 000      5 000         –
Intemediate Data                                    Unit      2004-05   2004-05    2005-06    2006-07
 Operating assets                        $'000   6254 835     6519 995     6770 584     7106 197
 Operating liabilities                   $'000   1005 280     1292 731     1266 613     1219 804
 Operating equity                        $'000   5249 555     5227 264     5503 971     5886 393
 Total equity                            $'000   5309 635     5115 698     5390 754     5754 575
 Profit before tax                       $'000    -39 198      -37 094       -3 293       51 344
 EBIT                                    $'000     33 737       57 298       99 371      152 830
 EBIT from operations                    $'000   -198 795     -170 410     -166 048     -178 551
 Operating profit after tax              $'000   -198 795     -162 357     -168 809     -197 152
Indicators                               Unit    2004-05      2004-05      2005-06      2006-07
Size
  Total Assets                             $m       6 315        6 583        6 834        7 170
  Total Income                             $m         861          856        1 095        1 244
Profitability indicators
  Profit before tax                      $'000    -39 198      -37 094       -3 293       51 344
  Operating profit margin                   %       - 31.6       - 27.1       - 20.0       - 19.6
  Cost recovery                             %         76.0         78.7         83.3         83.6
  Return on average operating assets        %           0.5          0.9          1.5          2.2
  Return on average total equity            %         - 3.7        - 3.2        - 3.2        - 3.5
  Return on average operating equity        %         - 3.8        - 3.1        - 3.1        - 3.5
Financial management indicators
  Debt to equity                            %        18.7         24.3         22.6         20.2
  Debt to average operating assets          %        15.7         19.5         18.7         17.1
  Liabilities to total equity               %        18.9         28.7         26.8         24.6
  Liabilities to operating equity           %        19.1         24.7         23.0         20.7
  Interest cover                         times        0.5          0.6          1.0          1.5
  Current ratio                             %       342.4        229.6         83.5         63.6
  Leverage ratio                            %       119.1        124.7        123.0        120.7
Transactions with government
 Dividends                               $'000      5 000        5 000        5 000            –
 Dividends to average operating equity      %          0.1          0.1          0.1           –
 Dividend payout ratio                      %        - 2.5        - 3.1        - 3.0           –
 Income tax expense                      $'000           –      -8 053        2 761       18 601
 Grant revenue ratio                        %        16.9         16.4         14.9         18.2
 CSO funding                             $'000           –            –            –           –
Queensland Rail
QLD
                                                            Pre-AIFRS    AIFRS
Source Data                                         Unit      2004-05   2004-05    2005-06    2006-07
INCOME STATEMENT
Total Income (R1)                                   $'000    2489 355   2548 741   2576 382   3212 650
 Revenue before movements in fair value (R2)        $'000    2489 355   2548 741   2576 382   3212 650
   Operating revenue (R2.1)                         $'000    2487 067   2479 687   2465 274   3116 484
      CSO revenue (R2.1.1)                          $'000     853 614    853 600    828 100    963 700
      Other operating revenue (R2.1.2)              $'000    1633 453   1626 087   1637 174   2152 784
   Non-operating revenue (R2.2)                     $'000       2 288     69 054    111 108     96 166
      Grants (R2.2.1)                               $'000           –     58 689     66 260     90 034
      Investment income (R2.2.2)                    $'000      15 608     15 256     13 813     13 538
      Other non-operating revenue (R2.2.3)          $'000     -13 320     -4 891     31 035     -7 406
 Net income from movements in fair value (R3)       $'000           –          –          –          –

Total expense (excl. tax) (E1)                      $'000    2201 997   2300 750 2486 643 2950 596
 Financing costs (E1.1)                             $'000     265 426    265 427 278 824 307 511
 Other expenses (operating expenses) (E1.2)         $'000    1936 571   2035 323 2207 819 2643 085
Total tax expense (T1)                              $'000      60 238     74 721    7 535   78 830
 Tax on profit before fair value movements (T1.1)   $'000      60 238     74 721    7 535   78 830
 Tax on movements in fair value movements (T1.2)    $'000           –          –        –        –
BALANCE SHEET
Total assets (A1)                                   $'000    8556 865   8298 903 9302 204 9998 969
Current assets (A1.1)                               $'000     532 512    514 557 788 568 618 195
 Operating (A1.1.1)                                 $'000     532 512    514 557 751 507 602 319
 Non-operating (A1.1.2)                             $'000           –          –   37 061   15 876
Non-current assets (A1.2)                           $'000    8024 353   7784 346 8513 636 9380 774
 Operating (A1.2.1)                                 $'000    7699 470   7363 006 8047 378 8997 007
 Non-operating (A1.2.2)                             $'000     324 883    421 340 466 258 383 767

Total liabilities (L1)                              $'000    5645 133   5713 471   6556 062   6917 689
Current liabilities (L1.1)                          $'000     830 467    768 666   1154 417   1079 579
 Operating (L1.1.1)                                 $'000     830 467    768 666   1149 908   1053 944
   Debt (L1.1.1.1)                                  $'000     207 756    207 757    418 924    321 785
   Other operating liabilities (L1.1.1.2)           $'000     622 711    560 909    730 984    732 159
 Non-operating (L1.1.2)                             $'000           –          –      4 509     25 635
Non-current liabilities (L1.2)                      $'000    4814 666   4944 805   5401 645   5838 110
 Operating (L1.2.1)                                 $'000    4021 771   4023 058   4487 759   4893 223
   Debt (L1.2.1.1)                                  $'000    3608 180   3608 184   4083 836   4243 770
   Other operating liabilities (L1.2.1.2)           $'000     413 591    414 874    403 923    649 453
 Non-operating (L1.2.2)                             $'000     792 895    921 747    913 886    944 887

OTHER
Dividends                                           $'000     193 100    193 100     68 530    151 493
Intemediate Data                         Unit    2004-05     2004-05     2005-06     2006-07
 Operating assets                        $'000   8231 982    7877 563    8798 885    9599 326
 Operating liabilities                   $'000   4852 238    4791 724    5637 667    5947 167
 Operating equity                        $'000   3379 744    3085 839    3161 218    3652 159
 Total equity                            $'000   2911 732    2585 432    2746 142    3081 280
 Profit before tax                       $'000    287 358     247 991      89 739     262 054
 EBIT                                    $'000    552 784     513 418     368 563     569 565
 EBIT from operations                    $'000    550 496     444 364     257 455     473 399
 Operating profit after tax              $'000    490 258     369 643     249 920     394 569
Indicators                               Unit    2004-05     2004-05     2005-06     2006-07
Size
  Total Assets                             $m       8 557       8 299       9 302       9 999
  Total Income                             $m       2 489       2 549       2 576       3 213
Profitability indicators
  Profit before tax                      $'000    287 358     247 991      89 739     262 054
  Operating profit margin                   %        22.1        17.9        10.4        15.2
  Cost recovery                             %       128.4       121.8       111.7       117.9
  Return on average operating assets        %          6.7         6.5         4.4         6.2
  Return on average total equity            %        16.8        14.3          9.4       13.5
  Return on average operating equity        %        14.5        12.0          8.0       11.6
Financial management indicators
  Debt to equity                            %       112.9       123.7       142.4       125.0
  Debt to average operating assets          %        46.4        48.4        54.0        49.6
  Liabilities to total equity               %       193.9       221.0       238.7       224.5
  Liabilities to operating equity           %       143.6       155.3       178.3       162.8
  Interest cover                         times        2.1         1.9         1.3         1.9
  Current ratio                             %        64.1        66.9        65.4        57.1
  Leverage ratio                            %       243.6       255.3       278.3       262.8
Transactions with government
 Dividends                               $'000    193 100     193 100      68 530     151 493
 Dividends to average operating equity      %          5.7         6.3         2.2         4.4
 Dividend payout ratio                      %        39.4        52.2        27.4        38.4
 Income tax expense                      $'000     60 238      74 721       7 535      78 830
 Grant revenue ratio                        %            –         2.3         2.6         2.8
 CSO funding                             $'000    853 614     853 600     828 100     963 700
Australian Rail Track Corporation
AG
                                                            Pre-AIFRS    AIFRS
Source Data                                         Unit      2004-05   2004-05    2005-06   2006-07
INCOME STATEMENT
Total Income (R1)                                   $'000     489 898    486 362   767 604    535 367
 Revenue before movements in fair value (R2)        $'000     489 898    486 362   766 582    534 274
    Operating revenue (R2.1)                        $'000     331 103    331 971   452 106    467 276
      CSO revenue (R2.1.1)                          $'000           –          –         –          –
      Other operating revenue (R2.1.2)              $'000     331 103    331 971   452 106    467 276
    Non-operating revenue (R2.2)                    $'000     158 795    154 391   314 476     66 998
      Grants (R2.2.1)                               $'000     120 527    116 991   270 000     12 383
      Investment income (R2.2.2)                    $'000      38 268     37 400    44 476     54 615
      Other non-operating revenue (R2.2.3)          $'000           –          –         –          –
 Net income from movements in fair value (R3)       $'000           –          –     1 022      1 093

Total expense (excl. tax) (E1)                      $'000     342 048    342 048   438 440    795 844
 Financing costs (E1.1)                             $'000           –          –         –          –
 Other expenses (operating expenses) (E1.2)         $'000     342 048    342 048   438 440    795 844
Total tax expense (T1)                              $'000           –    -29 718   -19 427    -50 303
 Tax on profit before fair value movements (T1.1)   $'000           –    -29 718   -19 427    -50 303
 Tax on movements in fair value movements (T1.2)    $'000           –          –         –          –
BALANCE SHEET
Total assets (A1)                                   $'000    1215 537   1217 557 1616 295    1441 677
Current assets (A1.1)                               $'000     899 576    901 596 1112 668     833 856
 Operating (A1.1.1)                                 $'000     899 576    901 596 1112 668     833 856
 Non-operating (A1.1.2)                             $'000           –          –        –           –
Non-current assets (A1.2)                           $'000     315 961    315 961 503 627      607 821
 Operating (A1.2.1)                                 $'000     315 961    315 304 483 611      534 319
 Non-operating (A1.2.2)                             $'000           –        657   20 016      73 502

Total liabilities (L1)                              $'000     125 509    132 721   180 582    213 645
Current liabilities (L1.1)                          $'000     122 529    113 080   147 820    176 139
 Operating (L1.1.1)                                 $'000     122 529    113 080   147 820    175 380
    Debt (L1.1.1.1)                                 $'000           –          –         –          –
    Other operating liabilities (L1.1.1.2)          $'000     122 529    113 080   147 820    175 380
 Non-operating (L1.1.2)                             $'000           –          –         –        759
Non-current liabilities (L1.2)                      $'000       2 980     19 641    32 762     37 506
 Operating (L1.2.1)                                 $'000       2 980     19 641    32 762     37 506
    Debt (L1.2.1.1)                                 $'000           –          –         –          –
    Other operating liabilities (L1.2.1.2)          $'000       2 980     19 641    32 762     37 506
 Non-operating (L1.2.2)                             $'000           –          –         –          –

OTHER
Dividends                                           $'000           –         –         –          –
Intemediate Data                         Unit    2004-05     2004-05     2005-06   2006-07
 Operating assets                        $'000   1215 537    1216 900 1596 279     1368 175
 Operating liabilities                   $'000    125 509     132 721 180 582       212 886
 Operating equity                        $'000   1090 028    1084 179 1415 697     1155 289
 Total equity                            $'000   1090 028    1084 836 1435 713     1228 032
 Profit before tax                       $'000    147 850     144 314 328 142      -261 570
 EBIT                                    $'000    147 850     144 314 328 142      -261 570
 EBIT from operations                    $'000    -10 945     -10 077   13 666     -328 568
 Operating profit after tax              $'000    -10 945      19 641   33 093     -278 265
Indicators                               Unit    2004-05     2004-05     2005-06   2006-07
Size
  Total Assets                             $m       1 216       1 218      1 616      1 442
  Total Income                             $m         490         486        768        535
Profitability indicators
  Profit before tax                      $'000    147 850     144 314    328 142   -261 570
  Operating profit margin                   %        - 3.3       - 3.0       3.0      - 70.3
  Cost recovery                             %        96.8        97.1      103.1        58.7
  Return on average operating assets        %        12.2        11.9       23.3      - 17.6
  Return on average total equity            %        - 1.0         1.8       2.6      - 20.9
  Return on average operating equity        %        - 1.0         1.8       2.6      - 21.6
Financial management indicators
  Debt to equity                            %           –           –          –          –
  Debt to average operating assets          %           –           –          –          –
  Liabilities to total equity               %        11.5        12.2       12.6       17.4
  Liabilities to operating equity           %        11.5        12.2       12.8       18.4
  Interest cover                         times         na          na         na         na
  Current ratio                             %       734.2       797.3      752.7      475.5
  Leverage ratio                            %       111.5       112.2      112.8      118.4
Transactions with government
 Dividends                               $'000          –           –          –           –
 Dividends to average operating equity      %           –           –          –           –
 Dividend payout ratio                      %           –           –          –           –
 Income tax expense                      $'000          –     -29 718    -19 427    -50 303
 Grant revenue ratio                        %        24.6        24.1       35.2         2.3
 CSO funding                             $'000          –           –          –           –

				
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