Hi, please kindly help me with the assignment. Please follow the instructions of questions in the document and provide precise answers. Thanks.

\fYou can see that the Balance Sheet and Profit and Loss statement have been 'reformulated' to separate out operating, investment and financing items. [See Rows 32 and below for the income statement and Rows 43 and below for the Balance Sheet]. 1. Examine the way in which the reformulation has been done (ie look at the cell references to determine what is operating, financing etc). Identify at least two (2) items in the Balance Sheet that could have been reclassified in a different way. Explain why the alternative classification would be plausible or valid. 2. Analyse Qantas' profitability in the past three years.by calculating the following ratios (do not use the ratios from the "Ratio Analysis" tab - they will give you the wrong numbers. You can submit this as an excel spreadsheet. Do each of the ratios below on a new row. a. Return on equity (use average shareholders' equity as the denominator) b. Net operating profit after tax c. Operating asset turnover [from b. and c. you can, and should, then calculate Return on operating assets] d. Return on (average) investment assets f. Return on business assets (hint: it's the 'weighted' average of the return on operating and investment assets) e. Spread [net interest expense after tax - return on business assets] g. Financial leverage h. Financial leverage gain i. Calculate ROE as Return on Business Assets + Financial leverage gain to ensure your calculations are correct. This serves as a useful checking mechanism 3. Create a chart in Excel that shows ROE, Net operating profit margin, operating asset turnover for 2013-2015 using the ratios you have calculated above. Use a separate vertical axis for the operating asset turnover to the ROE and Net operating profit margin. [There is a ton of material out on the googlemachine about creating excel charts.] 4. a) Briefly describe Qantas' performance by making references to the ratios you have just calculated. b) Discuss in particular how you would interpret the 2014 profit margin and therefore Return on Operating Assets. Identify the main concern you have with the 2014 results. Qantas Airways Limited Item Operating Revenue Other Revenue Total Revenue Excluding Interest Operating Expenses EBITDA Depreciation Amortisation Depreciation and Amortisation EBIT Interest Revenue Interest Expense Net Interest Expense PreTax Profit Tax Expense Net Profit after Tax Before Abnormals Abnormals Abnormals Tax Net Abnormals Reported NPAT After Abnormals Outside Equity Interests Shares Outstanding at Period End Weighted Average Number of Shares EPS Adjusted (cents/share) EPS After Abnormals (cents/share) 06/05 06/06 06/07 12,563,900,000 13,643,400,000 15,165,700,000 330,600,000 3,300,000 0 12,894,500,000 13,646,700,000 15,165,700,000 -10,672,800,000 -11,594,000,000 -12,689,700,000 2,221,700,000 2,052,700,000 2,476,000,000 -847,700,000 -1,249,800,000 -1,362,700,000 -252,300,000 0 0 -1,100,000,000 -1,249,800,000 -1,362,700,000 1,121,700,000 802,900,000 1,113,300,000 117,000,000 163,300,000 244,000,000 -211,500,000 -217,900,000 -258,900,000 -94,500,000 -54,600,000 -14,900,000 1,027,200,000 748,300,000 1,098,400,000 -314,900,000 -191,200,000 -312,500,000 712,300,000 557,100,000 785,900,000 0 -77,100,000 -66,300,000 52,100,000 0 0 52,100,000 -77,100,000 -66,300,000 764,400,000 480,000,000 719,600,000 -800,000 -500,000 -200,000 1,897,648,748 1,955,035,444 1,984,990,348 1,869,200,000 1,927,710,843 1,976,800,000 37.92 28.79 39.75 40.70 24.80 36.39 NOTE: Everything above this row was downloaded directly from Morningstar's DatAnalysis Premium database Effective tax rate Recast income statement Sales 30.7% 25.6% 28.5% 12,894,500,000 13,646,700,000 15,165,700,000 Net operating profit after tax + net investing income after tax - Interest expense after tax = Net income 829,929,936 81,132,301 146,662,237 764,400,000 520,649,018 121,574,810 162,223,827 480,000,000 730,260,879 174,580,845 185,241,724 719,600,000 Investing income after tax Interest income * (1-tax rate) Net investment profit after tax 117,000,000 69.3% 81,132,301 163,300,000 74.4% 121,574,810 244,000,000 71.5% 174,580,845 Interest expense after tax Interest expense 211,500,000 217,900,000 258,900,000 * (1 - tax rate) = Net interest expense after tax 69.3% 146,662,237 74.4% 162,223,827 71.5% 185,241,724 06/08 06/09 06/10 06/11 06/12 06/13 15,748,800,000 14,552,000,000 13,312,000,000 14,367,000,000 14,913,000,000 15,902,000,000 443,100,000 0 460,000,000 527,000,000 811,000,000 0 16,191,900,000 14,552,000,000 13,772,000,000 14,894,000,000 15,724,000,000 15,902,000,000 -13,587,600,000 -12,933,000,000 -12,261,000,000 -13,197,000,000 -14,069,000,000 -14,031,000,000 2,604,300,000 1,619,000,000 1,511,000,000 1,697,000,000 1,655,000,000 1,871,000,000 -1,469,300,000 -1,390,000,000 -1,199,000,000 -1,249,000,000 -1,325,000,000 -1,450,000,000 0 0 0 0 -59,000,000 0 -1,469,300,000 -1,390,000,000 -1,199,000,000 -1,249,000,000 -1,384,000,000 -1,450,000,000 1,135,000,000 229,000,000 312,000,000 448,000,000 271,000,000 421,000,000 284,700,000 207,000,000 181,000,000 192,000,000 181,000,000 109,000,000 -239,100,000 -229,000,000 -256,000,000 -305,000,000 -357,000,000 -296,000,000 45,600,000 -22,000,000 -75,000,000 -113,000,000 -176,000,000 -187,000,000 1,180,600,000 207,000,000 237,000,000 335,000,000 95,000,000 234,000,000 -437,900,000 -58,000,000 -62,000,000 -74,000,000 105,000,000 -11,000,000 742,700,000 149,000,000 175,000,000 261,000,000 200,000,000 223,000,000 227,000,000 -26,000,000 -59,000,000 -12,000,000 -444,000,000 -217,000,000 0 0 0 0 0 0 227,000,000 -26,000,000 -59,000,000 -12,000,000 -444,000,000 -217,000,000 969,700,000 123,000,000 116,000,000 249,000,000 -244,000,000 6,000,000 -700,000 -6,000,000 -4,000,000 1,000,000 -1,000,000 -1,000,000 1,894,444,009 2,265,123,620 2,265,123,620 2,265,123,620 2,265,123,620 2,265,123,620 1,929,100,000 2,080,000,000 2,265,123,620 2,265,123,620 2,265,123,620 2,265,123,620 38.46 6.88 7.55 11.57 8.79 9.80 50.23 5.63 4.94 11.04 -10.82 0.22 alysis Premium database 37.1% 28.0% 26.2% 22.1% -110.5% 4.7% 16,191,900,000 14,552,000,000 13,772,000,000 14,894,000,000 15,724,000,000 15,902,000,000 941,013,637 179,101,042 150,414,679 969,700,000 138,835,749 149,000,000 164,835,749 123,000,000 171,379,747 133,649,789 189,029,536 116,000,000 337,038,806 149,588,060 237,626,866 249,000,000 126,526,316 381,052,632 751,578,947 -244,000,000 184,209,402 103,876,068 282,085,470 6,000,000 284,700,000 62.9% 179,101,042 207,000,000 72.0% 149,000,000 181,000,000 73.8% 133,649,789 192,000,000 77.9% 149,588,060 181,000,000 210.5% 381,052,632 109,000,000 95.3% 103,876,068 239,100,000 229,000,000 256,000,000 305,000,000 357,000,000 296,000,000 62.9% 150,414,679 72.0% 164,835,749 73.8% 189,029,536 77.9% 237,626,866 210.5% 751,578,947 95.3% 282,085,470 06/14 06/15 15,155,000,000 15,532,000,000 197,000,000 284,000,000 15,352,000,000 15,816,000,000 -14,372,000,000 -13,525,000,000 980,000,000 2,291,000,000 -1,351,000,000 -1,014,000,000 -71,000,000 -82,000,000 -1,422,000,000 -1,096,000,000 -442,000,000 1,195,000,000 82,000,000 90,000,000 -286,000,000 -349,000,000 -204,000,000 -259,000,000 -646,000,000 936,000,000 1,133,000,000 -229,000,000 487,000,000 707,000,000 -3,330,000,000 -147,000,000 0 0 -3,330,000,000 -147,000,000 -2,843,000,000 560,000,000 0 -3,000,000 2,196,330,250 2,196,330,250 2,196,330,250 2,192,913,386 22.17 32.10 -129.44 25.40 175.4% 24.5% 15,352,000,000 15,816,000,000 - 2,996,789,474 61,817,337 - 215,606,811 -2,843,000,000 755,633,547 67,980,769 263,614,316 560,000,000 82,000,000 -75.4% 61,817,337 90,000,000 75.5% 67,980,769 286,000,000 349,000,000 - - -75.4% 215,606,811 75.5% 263,614,316 Qantas Airways Limited Item CA - Cash CA - Receivables CA - Prepaid Expenses CA - Inventories CA - Investments CA - NCA Held Sale CA - Other Total Current Assets NCA - Receivables NCA - Inventories NCA - Investments NCA - PP&E NCA - Intangibles(ExGW) NCA - Goodwill NCA - Future Tax Benefit NCA - Other Total NCA Total Assets CL - Account Payable CL - Short-Term Debt CL - Provisions CL - NCL Held Sale CL - Other Total Curr. Liabilities NCL - Account Payable NCL - Long-Term Debt NCL - Provisions NCL - Other Total NCL Total Liabilities Share Capital Reserves Retained Earnings Other Equity Convertible Equity SE Held Sale Outside Equity Total Equity Recast Balance Sheet Operating Working Capital Long-term operating assets Net Operating assets 06/05 206,300,000 3,012,900,000 82,100,000 332,600,000 0 0 76,000,000 3,709,900,000 1,141,400,000 0 443,600,000 12,612,500,000 45,300,000 96,700,000 200,000 84,800,000 14,424,500,000 18,134,400,000 2,254,000,000 315,000,000 486,100,000 0 1,579,900,000 4,635,000,000 450,000,000 5,234,700,000 1,246,900,000 140,900,000 7,072,500,000 11,707,500,000 4,173,400,000 56,200,000 2,193,100,000 0 0 0 4,200,000 6,426,900,000 06/06 2,902,000,000 1,228,700,000 86,400,000 334,800,000 476,700,000 0 24,200,000 5,052,800,000 237,600,000 0 1,193,400,000 12,375,000,000 199,700,000 112,000,000 2,900,000 9,900,000 14,130,500,000 19,183,300,000 1,988,000,000 440,800,000 680,600,000 0 2,320,300,000 5,429,700,000 0 5,334,800,000 1,530,400,000 807,300,000 7,672,500,000 13,102,200,000 4,358,400,000 329,300,000 1,388,500,000 0 0 0 4,900,000 6,081,100,000 06/07 3,362,900,000 1,376,800,000 0 180,300,000 604,800,000 0 109,200,000 5,634,000,000 372,700,000 0 913,400,000 12,308,300,000 233,100,000 132,800,000 300,000 11,100,000 13,971,700,000 19,605,700,000 2,005,700,000 863,700,000 1,071,700,000 0 2,562,900,000 6,504,000,000 0 4,210,900,000 1,925,300,000 770,500,000 6,906,700,000 13,410,700,000 4,448,600,000 148,200,000 1,592,300,000 0 0 0 5,900,000 6,195,000,000 2005 -125,000,000 11,451,700,000 11,326,700,000 2006 2007 -3,077,200,000 -3,601,300,000 10,361,800,000 9,989,800,000 7,284,600,000 6,388,500,000 Investment assetsa 649,900,000 4,572,100,000 4,881,100,000 Business Assets 11,976,600,000 11,856,700,000 11,269,600,000 Shareholders' Equity Debt Total Capital 6,426,900,000 5,549,700,000 11,976,600,000 6,081,100,000 6,195,000,000 5,775,600,000 5,074,600,000 11,856,700,000 11,269,600,000 Average Net Operating Assets Ave Inv assets Ave bus assets Ave debt Ave equity Ave capial 9305650000 2611000000 11916650000 5662650000 6254000000 11916650000 6836550000 4726600000 11563150000 5425100000 6138050000 11563150000 a Note that Investment assets includes cash and marketable securities. At this stage all of the cash has been allocated to investment assets, whereas it is likely that some of the cash would form part of the working capital required for operations. You should change the allocation of cash between operating working capital and cash if you believe that is more appropriate. 06/08 2,599,000,000 1,434,900,000 0 215,700,000 1,076,000,000 0 290,600,000 5,616,200,000 531,800,000 0 753,700,000 12,341,000,000 301,900,000 146,500,000 600,000 8,400,000 14,083,900,000 19,700,100,000 2,173,900,000 587,200,000 1,547,800,000 0 3,295,000,000 7,603,900,000 0 3,572,800,000 1,656,000,000 1,132,500,000 6,361,300,000 13,965,200,000 3,914,500,000 454,300,000 1,362,400,000 0 0 0 3,700,000 5,734,900,000 06/09 3,617,000,000 1,054,000,000 0 250,000,000 561,000,000 26,000,000 458,000,000 5,966,000,000 522,000,000 0 734,000,000 12,155,000,000 427,000,000 237,000,000 0 8,000,000 14,083,000,000 20,049,000,000 1,833,000,000 608,000,000 507,000,000 0 3,766,000,000 6,714,000,000 0 4,895,000,000 1,140,000,000 1,535,000,000 7,570,000,000 14,284,000,000 4,671,000,000 7,000,000 1,043,000,000 0 0 0 44,000,000 5,765,000,000 06/10 3,704,000,000 1,088,000,000 138,000,000 319,000,000 233,000,000 91,000,000 259,000,000 5,832,000,000 407,000,000 0 483,000,000 12,516,000,000 449,000,000 219,000,000 0 4,000,000 14,078,000,000 19,910,000,000 1,750,000,000 619,000,000 448,000,000 4,000,000 3,420,000,000 6,241,000,000 0 5,099,000,000 1,275,000,000 1,314,000,000 7,688,000,000 13,929,000,000 4,675,000,000 109,000,000 1,155,000,000 0 0 0 42,000,000 5,981,000,000 06/11 3,496,000,000 1,027,000,000 148,000,000 372,000,000 318,000,000 20,000,000 260,000,000 5,641,000,000 423,000,000 0 546,000,000 13,652,000,000 429,000,000 164,000,000 0 3,000,000 15,217,000,000 20,858,000,000 1,738,000,000 577,000,000 456,000,000 0 3,464,000,000 6,235,000,000 0 5,454,000,000 1,414,000,000 1,604,000,000 8,472,000,000 14,707,000,000 4,657,000,000 85,000,000 1,405,000,000 0 0 0 4,000,000 6,151,000,000 06/12 3,398,000,000 1,111,000,000 107,000,000 376,000,000 88,000,000 73,000,000 307,000,000 5,460,000,000 472,000,000 0 474,000,000 14,139,000,000 464,000,000 146,000,000 0 23,000,000 15,718,000,000 21,178,000,000 1,876,000,000 1,119,000,000 939,000,000 12,000,000 3,172,000,000 7,118,000,000 0 5,430,000,000 1,605,000,000 1,136,000,000 8,171,000,000 15,289,000,000 4,687,000,000 36,000,000 1,162,000,000 0 0 0 4,000,000 5,889,000,000 06/13 2,829,000,000 1,436,000,000 102,000,000 364,000,000 180,000,000 42,000,000 292,000,000 5,245,000,000 174,000,000 0 217,000,000 13,827,000,000 517,000,000 197,000,000 0 23,000,000 14,955,000,000 20,200,000,000 1,859,000,000 835,000,000 644,000,000 0 3,032,000,000 6,370,000,000 0 5,245,000,000 1,445,000,000 1,186,000,000 7,876,000,000 14,246,000,000 4,650,000,000 128,000,000 1,171,000,000 0 0 0 5,000,000 5,954,000,000 2008 2009 2010 2011 2012 2013 -4,543,700,000 -3,796,000,000 -3,320,000,000 -3,408,000,000 -3,553,000,000 -3,125,000,000 10,009,900,000 10,152,000,000 10,599,000,000 11,230,000,000 12,031,000,000 11,933,000,000 5,466,200,000 6,356,000,000 7,279,000,000 7,822,000,000 8,478,000,000 8,808,000,000 4,428,700,000 4,912,000,000 4,420,000,000 4,360,000,000 3,960,000,000 3,226,000,000 9,894,900,000 11,268,000,000 11,699,000,000 12,182,000,000 12,438,000,000 12,034,000,000 5,734,900,000 5,765,000,000 5,981,000,000 6,151,000,000 5,889,000,000 5,954,000,000 4,160,000,000 5,503,000,000 5,718,000,000 6,031,000,000 6,549,000,000 6,080,000,000 9,894,900,000 11,268,000,000 11,699,000,000 12,182,000,000 12,438,000,000 12,034,000,000 5927350000 4654900000 10582250000 4617300000 5964950000 10582250000 5911100000 4670350000 10581450000 4831500000 5749950000 10581450000 6817500000 4666000000 11483500000 5610500000 5873000000 11483500000 7550500000 4390000000 11940500000 5874500000 6066000000 11940500000 8150000000 4160000000 12310000000 6290000000 6020000000 12310000000 8643000000 3593000000 12236000000 6314500000 5921500000 12236000000 06/14 3,001,000,000 1,196,000,000 0 317,000,000 172,000,000 134,000,000 112,000,000 4,932,000,000 158,000,000 0 177,000,000 10,500,000,000 546,000,000 195,000,000 548,000,000 262,000,000 12,386,000,000 17,318,000,000 1,851,000,000 1,210,000,000 876,000,000 0 3,588,000,000 7,525,000,000 0 5,273,000,000 405,000,000 1,249,000,000 6,927,000,000 14,452,000,000 4,614,000,000 -81,000,000 -1,671,000,000 0 0 0 4,000,000 2,866,000,000 06/15 2,908,000,000 959,000,000 109,000,000 322,000,000 613,000,000 136,000,000 2,000,000 5,049,000,000 134,000,000 0 183,000,000 10,715,000,000 597,000,000 206,000,000 333,000,000 313,000,000 12,481,000,000 17,530,000,000 1,881,000,000 771,000,000 1,234,000,000 0 3,584,000,000 7,470,000,000 0 4,791,000,000 463,000,000 1,359,000,000 6,613,000,000 14,083,000,000 4,623,000,000 -66,000,000 -1,115,000,000 0 0 0 5,000,000 3,447,000,000 2014 2015 -4,398,000,000 -5,037,000,000 10,397,000,000 10,342,000,000 5,999,000,000 5,305,000,000 3,350,000,000 3,704,000,000 9,349,000,000 9,009,000,000 2,866,000,000 6,483,000,000 9,349,000,000 3,447,000,000 5,562,000,000 9,009,000,000 7403500000 3288000000 10691500000 6281500000 4410000000 10691500000 5652000000 3527000000 9179000000 6022500000 3156500000 9179000000 1 Examine the way in which the reformulation has been done (ie look at the cell references to determine w least two (2) items in the Balance Sheet that could have been reclassified in a different way. Explain wh plausible or valid. Answer: Cash can be included in the operating activities as it is used by the business for managing their day to da included in the investment assets because it is an investment for the company. It will generate higher ret 2 Analyse Qantas' profitability in the past three years.by calculating the following ratios (do not use the ra give you the wrong numbers. You can submit this as an excel spreadsheet. Do each of the ratios below o a) Return on equity (use average shareholders' equity as the denominator) Answer: 2005 2006 ROE 11.89% 7.68% b) 2007 11.72% Net operating profit after tax Answer: Net operating profit after tax Net operating profit margin 2005 829,929,935.75 6.44% 2006 520,649,017.77 3.82% 2007 730,260,879.46 4.82% c) Operating asset turnover [from b. and c. you can, and should, then calculate Return on operating assets] Answer: 2005 2006 2007 Operating asset turnover 1.138 1.873 2.374 Return on operating asset 7.33% 7.15% 11.43% d) Return on (average) investment assets Answer: 2005 ROA 29.28% f) g) 2007 15.46% 2006 6.49% 2007 10.40% Return on business assets Answer: Return on business assets e) 2006 10.16% 2005 10.75% Spread [net interest expense after tax - return on business assets] Answer: 2005 2006 Spread 65,529,935.75 40,649,017.77 2007 10,660,879.46 Financial leverage Answer: 2005 2006 2007 Financial leverage h) 1.864 1.950 1.819 2005 1.14% 2006 1.19% 2007 1.22% Financial leverage gain Answer: Financial leverage gain i) Calculate ROE as Return on Business Assets + Financial leverage gain to ensure your calculations are c Answer: 2005 2006 2007 ROE 11.89% 7.68% 11.62% 3 Create a chart in Excel that shows ROE, Net operating profit margin, operating asset turnover for 2013using the ratios you have calculated above. Use a separate vertical axis for the operating asset turnover ROE and Net operating profit margin. Answer: 30.00% 3.500 20.00% 3.000 10.00% 0.00% 2013 -10.00% 2.500 2014 2015 2.000 -20.00% -30.00% -40.00% 1.500 Net operating profit margin ROE Operating asset turnover 1.000 -50.00% -60.00% -70.00% 4. a) 0.500 0.000 Briefly describe Qantas' performance by making references to the ratios you have just calculated. Answer: The performance of the company is declining, ROE, ROA and the profitability is negative with time indicating about the poor performance. b) Discuss in particular how you would interpret the 2014 profit margin and therefore Return on Operating concern you have with the 2014 results. Answer: Operating profit is negative and it is the main concern. It indicates about the poor performance of the company and decreasing revenue with increasing operating expenses. It is creating more concern as it challenges the business operations and its sustainability in the future. eferences to determine what is operating, financing etc). Identify at fferent way. Explain why the alternative classification would be managing their day to day business operations. Next PPE can be t will generate higher return. g ratios (do not use the ratios from the "Ratio Analysis" tab - they will ach of the ratios below on a new row. 2008 16.26% 2008 941,013,637.13 5.81% 2009 2.14% 2009 138,835,748.79 0.95% 2010 1.98% 2010 171,379,746.84 1.24% 2011 4.10% 2011 337,038,805.97 2.26% 2012 -4.05% 2012 126,526,315.79 0.80% urn on operating assets] - 2008 2.962 17.22% 2009 2.289 2.18% 2010 1.892 2.35% 2011 1.904 4.31% 2012 1.855 1.49% 2008 20.76% 2009 2.64% 2010 2.64% 2011 5.99% 2012 -6.79% 2008 15.33% 2009 1.00% 2010 0.61% 2011 2.45% 2012 -8.83% 2008 28,686,362.87 2008 2009 15,835,748.79 2009 2010 55,379,746.84 2010 2011 88,038,805.97 2011 2012 370,526,315.79 2012 1.725 1.955 1.956 1.980 2.112 2008 0.93% 2009 1.13% 2010 1.37% 2011 1.60% 2012 4.78% 2009 2.13% 2010 1.98% 2011 4.05% 2012 -4.05% e your calculations are correct. 2008 16.26% asset turnover for 2013-2015 operating asset turnover to the ve just calculated. ore Return on Operating Assets. Identify the main 2013 0.10% 2013 184,209,401.71 1.16% 2014 -64.47% 2014 2,996,789,473.68 -19.52% 2015 17.74% 2015 755,633,547.01 4.78% 2013 1.805 2.09% 2014 2.559 -49.95% 2015 2.981 14.24% 2013 0.18% 2014 -80.61% 2015 15.12% 2013 -1.67% 2014 -63.07% 2015 14.58% 2013 178,209,401.71 - 2013 2014 153,789,473.68 2014 2015 195,633,547.01 2015 2.021 3.262 2.614 2013 1.77% 2014 -1.40% 2015 1.67% 2013 0.10% 2014 -64.47% 2015 16.25% ASX Code QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Company Name Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Item Receipts from Customers Payments to Suppliers and Employees Dividends Received Interest Received Interest Paid Tax Paid Other Operating Cashflows Net Operating Cashflows Payment for Purchase of PPE Proceeds From Sale of PPE Investments Purchased Proceeds From Sale of Investments Payments for Purchase of Subsidiaries Proceeds from Sale of Subsidiaries Loans Granted Loans Repaid Other Investing Cashflows Net Investing Cashflows Proceeds from Issues Proceeds from Borrowings Repayment of Borrowings Dividends Paid Other Financing Cashflows Net Financing Cashflows Net Increase in Cash Cash at Beginning of Period Exchange Rate Adj Other Cash Adjustments Cash at End of Period 06/05 13,211,000,000.00 -11,015,900,000.00 28,100,000.00 116,900,000.00 -287,200,000.00 -102,900,000.00 0.00 1,950,000,000.00 -1,682,900,000.00 329,400,000.00 -44,600,000.00 0.00 0.00 0.00 1,900,000.00 0.00 0.00 -1,396,200,000.00 0.00 1,302,900,000.00 -1,144,500,000.00 -175,000,000.00 1,300,000.00 -15,300,000.00 538,500,000.00 1,365,300,000.00 0.00 0.00 1,903,800,000.00 06/06 14,396,100,000.00 -12,086,800,000.00 37,000,000.00 165,300,000.00 -322,900,000.00 -162,700,000.00 0.00 2,026,000,000.00 -1,527,100,000.00 675,200,000.00 -37,300,000.00 0.00 0.00 0.00 -400,000.00 0.00 0.00 -889,600,000.00 0.00 632,200,000.00 -563,300,000.00 -212,100,000.00 5,000,000.00 -138,200,000.00 998,200,000.00 1,903,800,000.00 0.00 0.00 2,902,000,000.00 06/07 15,707,300,000.00 -13,027,000,000.00 34,400,000.00 230,200,000.00 -425,100,000.00 -166,400,000.00 0.00 2,353,400,000.00 -1,235,900,000.00 47,300,000.00 -2,200,000.00 3,200,000.00 -32,100,000.00 0.00 -500,000.00 0.00 0.00 -1,220,200,000.00 0.00 96,200,000.00 -356,200,000.00 -414,700,000.00 2,400,000.00 -672,300,000.00 460,900,000.00 2,902,000,000.00 0.00 0.00 3,362,900,000.00 06/08 16,628,300,000.00 -14,077,700,000.00 22,300,000.00 264,600,000.00 -419,300,000.00 -289,800,000.00 0.00 2,128,400,000.00 -1,424,000,000.00 43,700,000.00 -35,300,000.00 106,200,000.00 -13,200,000.00 0.00 0.00 0.00 0.00 -1,322,600,000.00 0.00 342,300,000.00 -784,900,000.00 -638,000,000.00 -489,100,000.00 -1,569,700,000.00 -763,900,000.00 3,362,900,000.00 0.00 0.00 2,599,000,000.00 06/09 15,462,000,000.00 -13,891,000,000.00 22,000,000.00 191,000,000.00 -381,000,000.00 -274,000,000.00 0.00 1,129,000,000.00 -1,530,000,000.00 375,000,000.00 -23,000,000.00 0.00 10,000,000.00 5,000,000.00 0.00 0.00 0.00 -1,163,000,000.00 514,000,000.00 1,468,000,000.00 -653,000,000.00 -218,000,000.00 -59,000,000.00 1,052,000,000.00 1,018,000,000.00 2,599,000,000.00 0.00 0.00 3,617,000,000.00 06/10 14,376,000,000.00 -13,125,000,000.00 16,000,000.00 149,000,000.00 -238,000,000.00 129,000,000.00 0.00 1,307,000,000.00 -1,688,000,000.00 101,000,000.00 -14,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 -1,601,000,000.00 -16,000,000.00 1,352,000,000.00 -974,000,000.00 -4,000,000.00 23,000,000.00 381,000,000.00 87,000,000.00 3,617,000,000.00 0.00 0.00 3,704,000,000.00 06/11 15,545,000,000.00 -13,727,000,000.00 21,000,000.00 180,000,000.00 -239,000,000.00 2,000,000.00 0.00 1,782,000,000.00 -2,407,000,000.00 116,000,000.00 0.00 0.00 -21,000,000.00 24,000,000.00 0.00 0.00 -190,000,000.00 -2,478,000,000.00 -65,000,000.00 1,359,000,000.00 -784,000,000.00 -1,000,000.00 -1,000,000.00 508,000,000.00 -188,000,000.00 3,704,000,000.00 -20,000,000.00 0.00 3,496,000,000.00 06/12 16,699,000,000.00 -14,795,000,000.00 22,000,000.00 170,000,000.00 -285,000,000.00 -1,000,000.00 0.00 1,810,000,000.00 -2,221,000,000.00 66,000,000.00 -33,000,000.00 0.00 -11,000,000.00 0.00 0.00 0.00 -83,000,000.00 -2,282,000,000.00 0.00 688,000,000.00 -566,000,000.00 -1,000,000.00 249,000,000.00 370,000,000.00 -102,000,000.00 3,496,000,000.00 4,000,000.00 0.00 3,398,000,000.00 06/13 16,582,000,000.00 -15,185,000,000.00 142,000,000.00 110,000,000.00 -229,000,000.00 -3,000,000.00 0.00 1,417,000,000.00 -1,247,000,000.00 50,000,000.00 -85,000,000.00 322,000,000.00 -24,000,000.00 0.00 0.00 0.00 -61,000,000.00 -1,045,000,000.00 0.00 846,000,000.00 -1,494,000,000.00 0.00 -305,000,000.00 -953,000,000.00 -581,000,000.00 3,398,000,000.00 12,000,000.00 0.00 2,829,000,000.00 06/14 16,720,000,000.00 -15,473,000,000.00 4,000,000.00 74,000,000.00 -254,000,000.00 -2,000,000.00 0.00 1,069,000,000.00 -1,161,000,000.00 141,000,000.00 -93,000,000.00 8,000,000.00 0.00 70,000,000.00 0.00 0.00 -34,000,000.00 -1,069,000,000.00 0.00 717,000,000.00 -1,027,000,000.00 -1,000,000.00 484,000,000.00 173,000,000.00 173,000,000.00 2,829,000,000.00 -1,000,000.00 0.00 3,001,000,000.00 06/15 17,239,000,000.00 -14,998,000,000.00 5,000,000.00 85,000,000.00 -281,000,000.00 -2,000,000.00 0.00 2,048,000,000.00 -1,359,000,000.00 194,000,000.00 -49,000,000.00 266,000,000.00 -7,000,000.00 28,000,000.00 0.00 0.00 -17,000,000.00 -944,000,000.00 0.00 796,000,000.00 -2,276,000,000.00 -4,000,000.00 266,000,000.00 -1,218,000,000.00 -114,000,000.00 3,001,000,000.00 21,000,000.00 0.00 2,908,000,000.00 Here is a worked example of how to capitalise operating lease commitments This example works through the Aircraft and Engines for Qantas 1. Determine value of leased asset and lease liabilitity. To do so, go to the lease Accounting Standard. We require the present value of the minimum lease payments. Assumed discount rate: Period 7% PV of lease Payment PV factor Payment 1 469 0.935 438.3 2 200.5 0.873 175.1 3 200.5 0.816 163.7 4 200.5 0.763 153.0 5 200.5 0.713 143.0 6 88 0.666 58.6 Total PV of lease payments $ 1,131.66 Accounting entry to capitalise the lease asset and liability: Dr Leased Asset $ 1,131.66 CR Lease Liability $ 1,131.66 We now can determine what impact this would have on the 2016 profit and loss statements. Effect on profit Operating lease payment no longer an expense Depreciation of leased assets (assume useful life is the same as the number of lease payments) Interest cost (ie the financing cost of the lease liability) Effect on pre-tax profit 469 189 79.2 201.2 Lease liability amortisation schedu Period 1 2 3 4 5 6 Lease liability amortisation schedule Opening Reduction Closing Balance Payment Interest in principle Balance 1131.7 469.0 79.2 389.8 741.9 741.9 200.5 51.9 148.6 593.3 593.3 200.5 41.5 159.0 434.3 434.3 200.5 30.4 170.1 264.2 264.2 200.5 18.5 182.0 82.2 82.2 88.0 5.8 82.2 0.0 ASX Code QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Company Name Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Item Shares Outstand. (EOP) Weighted Avg. Shares EPS Bef. Abs EPS Aft. Abs. Dilution Factor Cumulative Reportd EPS Bef. Abs.Adj DPS - Adj Ex. Special DPS - Adj. Interim Div - Ordinary Interim Franking - Ord (%) Gross Interim Div - Ord Final Dividend - Ordinary Final Franking - Ordinary (%) Gross Final Div - Ord Special Dividend - Ord Special Franking - Ord (%) Gross Special Div - Ord Total Div - Ex. Special Total Div - Inc. Special Total Franking - Ex. Spec Total Franking - Inc. Spec (%) Total Gross Div- Ex.Spec Total Gross Div- Inc.Spec Tax Rate (%) Corporate Tax Rate (%) Payout Ratio Ex. Special (%) Payout Ratio (%) Dividend Yield (%) Dividend Yield Ex. Spec (%) Dividend Cover (%) Gross Div. Yield (%) Gross Div. Yield Ex. Spec (%) 06/05 1,897,648,748.00 1,869,200,000.00 44.32 40.70 -1.00 37.92 20.00 20.00 10.00 100.00 14.29 10.00 100.00 14.29 0.00 -0.00 20.00 20.00 100.00 100.00 28.57 28.57 30.66 30.00 52.74 52.74 5.93 5.93 189.60 8.48 8.48 06/06 1,955,035,444.00 1,927,710,843.00 28.42 24.80 -1.00 28.79 22.00 22.00 11.00 100.00 15.71 11.00 100.00 15.71 0.00 -0.00 22.00 22.00 100.00 100.00 31.43 31.43 25.55 30.00 76.42 76.42 7.43 7.43 130.86 10.62 10.62 06/07 1,984,990,348.00 1,976,800,000.00 32.18 36.40 -1.00 39.75 15.00 30.00 0.00 -0.00 15.00 100.00 21.43 15.00 100.00 21.43 15.00 30.00 100.00 100.00 21.43 42.86 28.45 30.00 37.74 75.47 5.36 2.68 265.00 7.65 3.83 06/08 1,894,444,009.00 1,929,100,000.00 55.45 50.20 -1.00 38.46 35.00 35.00 18.00 100.00 25.71 17.00 100.00 24.29 0.00 -0.00 35.00 35.00 100.00 100.00 50.00 50.00 37.09 30.00 91.00 91.00 11.51 11.51 109.89 16.45 16.45 06/09 2,265,123,620.00 2,080,000,000.00 9.62 5.60 -1.00 6.88 6.00 6.00 6.00 100.00 8.57 0.00 -0.00 0.00 -0.00 6.00 6.00 100.00 100.00 8.57 8.57 28.02 30.00 87.21 87.21 2.99 2.99 114.67 4.26 4.26 06/10 2,265,123,620.00 2,265,123,620.00 6.89 4.90 -1.00 7.55 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 26.16 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 06/11 2,265,123,620.00 2,265,123,620.00 11.04 11.00 -1.00 11.57 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 22.09 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 06/12 2,265,123,620.00 2,265,123,620.00 -10.82 -10.80 -1.00 8.79 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 -110.53 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 06/13 2,265,123,620.00 2,265,123,620.00 2.91 0.22 -1.00 9.80 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 4.70 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 06/14 2,196,330,250.00 2,196,330,250.00 -129.44 -128.50 -1.00 22.17 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 175.39 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 06/15 2,196,330,250.00 2,192,913,386.00 25.40 25.40 -1.00 32.10 0.00 0.00 0.00 -0.00 0.00 -0.00 --0.00 ----0.00 0.00 24.47 30.00 0.00 0.00 0.00 0.00 -0.00 0.00 ASX Code QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Company Name Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Year 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2015 06/2014 06/2014 06/2014 06/2014 Data Set Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Revenue Revenue Revenue Revenue QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2014 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 Revenue Revenue Revenue Revenue Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Revenue Revenue Revenue Revenue Revenue Revenue QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2013 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 Revenue Revenue Revenue Revenue Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Revenue Revenue Revenue Revenue Revenue Revenue QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Non Recurring Non Recurring QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited 06/2012 06/2012 06/2012 06/2012 06/2012 06/2012 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Revenue Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense Expense QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 06/2011 Expense Expense Expense Non Recurring Non Recurring Non Recurring Non Recurring Non Recurring Items Item BreakDown Operating Revenue (sales) Net passenger revenue Operating Revenue (sales) Net freight revenue Other Operating Revenue Frequent Flyer marketing revenue, member Other Operating Revenue Frequent Flyer store and other redemption Other Operating Revenue Retailing, advertising and other property v Other Operating Revenue Contract work revenue Gross Interest Income Finance income Other Non-Operating Revenue (ordinary acti Other revenue Impairment of tangible assets Impairment of specific assets Loss/(Gain) in value of derivatives Ineffective and non-designated derivatives Loss/(Gain) on sales of non current assets Net gain on sale of controlled entity and re Restructuring costs Redundancies Cost of Goods Sold Fuel Cost of Goods Sold Aircraft operating variable Sales and marketing expenses Marketing and advertising Staff and Employee Expenses Manpower and staff related Staff and Employee Expenses Employee benefit discount rate and other Occupancy Expenses Capacity hire Occupancy Expenses Property Operating lease expense Non-aircraft operating lease rentals Operating lease expense Non-cancellable operating lease rentals Fees & Commissions Commissions and other selling costs Directors' Remuneration Directors' Remuneration Audit Fee Paid by Consolidated Entity to MaKPMG - Audit and review of Financial Repo Audit Fee for Non-audit Paid by ConsolidateKPMG - Other regulatory audit services Audit Fee for Non-audit Paid by ConsolidateKPMG - In relation to other assurance, taxa Audit Fee for Non-audit Paid by ConsolidateKPMG - Other non-audit services Other Operating Expenses Contract Work Material Other Operating Expenses Other expense Other Operating Expenses Computer and communication Depreciation Depreciation expense Other Amortisation Amortisation expense Other Expenses (outside ordinary activitiesDefined benefit curtailment expenses Other Expenses (outside ordinary activitiesInventory write-off Fleet restructuring costs Net gain on sale of controlled entity and related assets Net impairment of investments Net impairment of other intangible assets Other Redundancies, restructuring and other transformation costs Write-off of Jetstar Hong Kong Business Operating Revenue (sales) Net passenger revenue Operating Revenue (sales) Net freight revenue Operating Revenue (sales) Frequent Flyer marketing revenue, member Operating Revenue (sales) Frequent Flyer store and other redemption Values 13,667,000,000.00 936,000,000.00 348,000,000.00 286,000,000.00 154,000,000.00 141,000,000.00 90,000,000.00 284,000,000.00 -28,000,000.00 -13,000,000.00 11,000,000.00 -55,000,000.00 -3,937,000,000.00 -3,206,000,000.00 -103,000,000.00 -3,604,000,000.00 8,000,000.00 -292,000,000.00 -244,000,000.00 -235,000,000.00 -495,000,000.00 -544,000,000.00 -9,041,000.00 -3,219,000.00 -23,000.00 -1,588,000.00 -570,000.00 -16,000,000.00 -464,000,000.00 -400,000,000.00 -1,014,000,000.00 -82,000,000.00 -5,000,000.00 -10,000,000.00 -4,000,000.00 11,000,000.00 -19,000,000.00 -7,000,000.00 -27,000,000.00 -80,000,000.00 -21,000,000.00 13,242,000,000.00 955,000,000.00 300,000,000.00 275,000,000.00 Operating Revenue (sales) Contract work revenue Other Operating Revenue Retailing, advertising and other property v Gross Interest Income Finance income Other Non-Operating Revenue (ordinary acti Other revenue Impairment of tangible assets Net impairment of property, plant and eq Impairment of tangible assets Impairment of investments Impariment of intangible assets Net impairment of goodwill and intangible Loss/(Gain) in value of derivatives Ineffective and non-designated derivatives Loss/(Gain) on sales of non current assets Net gain on sale of controlled entity and re Loss/(Gain) on sales of PPE Impairment of property, plant and equipm Restructuring costs Redundancies Cost of Goods Sold Fuel Cost of Goods Sold Aircraft operating variable Sales and marketing expenses Selling and marketing Staff and Employee Expenses Manpower and staff related Occupancy Expenses Property Occupancy Expenses Capacity hire Operating lease expense Non-aircraft operating lease rentals Operating lease expense Non-cancellable operating lease rentals Directors' Remuneration Directors' Remuneration Audit Fee Paid by Consolidated Entity to MaAudit and review of Financial Report - KP Audit Fee for Non-audit Paid by ConsolidateOther regulatory audit services - KPMG Audit Fee for Non-audit Paid by ConsolidateIn relation to other assurance, taxation an Audit Fee for Non-audit Paid by ConsolidateOther non-audit services - KPMG Other Operating Expenses Airport Security Charges Other Operating Expenses Other expense Other Operating Expenses Computer and communication Other Operating Expenses Contract Work Material Depreciation Depreciation expenses Other Amortisation Amortisation expenses Writedown in Value of Assets Inventory write-off B787-8 introduction costs Fleet restructuring Impairment of goodwill and other intangibles Impairment of Qantas International CGU Ineffectiveness and non-designated derivatives relating to other reporting periods Net impairment of investment Net profit on disposal of investments Other Redundancies, restructuring and other transformation costs Operating Revenue (sales) Contract work revenue Operating Revenue (sales) Frequent Flyer marketing revenue, member Operating Revenue (sales) Frequent Flyer store and other redemption Operating Revenue (sales) Net passenger revenue Operating Revenue (sales) Net freight revenue Other Operating Revenue Other revenue 227,000,000.00 156,000,000.00 82,000,000.00 197,000,000.00 -328,000,000.00 -50,000,000.00 -9,000,000.00 8,000,000.00 62,000,000.00 -2,560,000,000.00 -370,000,000.00 -4,461,000,000.00 -3,142,000,000.00 -636,000,000.00 -3,717,000,000.00 -245,000,000.00 -331,000,000.00 -238,000,000.00 -520,000,000.00 -2,441,000.00 -3,202,000.00 -44,000.00 -778,000.00 -34,000.00 -161,000,000.00 -426,000,000.00 -394,000,000.00 -57,000,000.00 -1,351,000,000.00 -71,000,000.00 -61,000,000.00 -14,000,000.00 -394,000,000.00 -9,000,000.00 -2,560,000,000.00 72,000,000.00 -50,000,000.00 62,000,000.00 -9,000,000.00 -428,000,000.00 296,000,000.00 268,000,000.00 257,000,000.00 13,673,000,000.00 935,000,000.00 325,000,000.00 Other Operating Revenue Retailing, advertising and other property v Gross Interest Income Interest income on financial assets measur Gross Interest Income Interest income from jointly controlled enti Gross Interest Income Unwind of discount on receivables Impairment of tangible assets Net impairment of property, plant and eq Impairment of tangible assets Impairment of investments Impariment of intangible assets Net impairment of goodwill and intangible Loss/(Gain) in value of derivatives Ineffective and non-designated derivatives Loss/(Gain) on sales of non current assets Net gain on sale of jointly controlled entity Restructuring costs Redundancies and restructuring Capitalised Interest Capitalised interest Cost of Goods Sold Aircraft operating variable Cost of Goods Sold Fuel Sales and marketing expenses Selling and marketing Staff and Employee Expenses Manpower and staff related Occupancy Expenses Property Occupancy Expenses Capacity hire Operating lease expense Non-cancellable operating lease rentals Directors' Remuneration Directors' remuneration Audit Fee Paid by Consolidated Entity to MaKPMG - Audit and review of Financial Repor Audit Fee Paid by Consolidated Entity to MaOverseas KPMG firms - Audit and review of Audit Fee for Non-audit Paid by ConsolidateKPMG - Other audit related services Audit Fee for Non-audit Paid by ConsolidateKPMG - Taxation services Audit Fee for Non-audit Paid by ConsolidateOverseas KPMG firms - Taxation services Audit Fee for Non-audit Paid by ConsolidateKPMG - Other non-audit services Audit Fee for Non-audit Paid by ConsolidateOverseas KPMG firms - Other non-audit ser Audit Fee for Non-audit Paid by ConsolidateKPMG - Other regulatory audit services Other Operating Expenses Contract Work Material Other Operating Expenses Airport Security Charges Other Operating Expenses Computer and communication Other Operating Expenses Other expense Depreciation Depreciation and amortisation Adjusted for ineffectiveness and non-designated derivatives relating to other reportin Impairment of goodwill and other intangible assets Net impairment of investments Net impairment of property, plant and equipment Net profit on disposal of investment in jointly controlled entity Other items not included in Underlying PBT Redundancies and restructuring Write down of inventory Operating Revenue (sales) Charter revenue Operating Revenue (sales) Tours and travel revenue Operating Revenue (sales) Net passenger revenue Operating Revenue (sales) Net freight revenue Operating Revenue (sales) Contract work revenue Operating Revenue (sales) Ancillary passenger revenue 148,000,000.00 99,000,000.00 5,000,000.00 5,000,000.00 -93,000,000.00 2,000,000.00 -24,000,000.00 -76,000,000.00 30,000,000.00 -122,000,000.00 -61,000,000.00 -3,066,000,000.00 -4,154,000,000.00 -598,000,000.00 -3,825,000,000.00 -482,000,000.00 -311,000,000.00 -525,000,000.00 -2,714,000.00 -2,926,000.00 -287,000.00 -973,000.00 -265,000.00 -163,000.00 -329,000.00 -17,000.00 -12,000.00 -65,000,000.00 -145,000,000.00 -418,000,000.00 -337,000,000.00 -1,450,000,000.00 -32,000,000.00 -24,000,000.00 2,000,000.00 -86,000,000.00 30,000,000.00 7,000,000.00 -118,000,000.00 4,000,000.00 89,000,000.00 48,000,000.00 12,494,000,000.00 784,000,000.00 380,000,000.00 346,000,000.00 Operating Revenue (sales) Frequent Flyer store and other redemption Operating Revenue (sales) Frequent Flyer marketing revenue Other Operating Revenue Other revenue Other Operating Revenue Retailing, advertising and other property v Rental Income Lease revenue Commissions & Fees Earned Passenger service fees Commissions & Fees Earned Frequent Flyer membership fees and other Commissions & Fees Earned Qantas Club Membership Fees Commissions & Fees Earned Freight Terminal Fee Revenue Gross Interest Income Finance income Other Non-Operating Revenue (ordinary acti Liquidated damages Impairment of tangible assets Net impairment of property, plant and eq Impairment of tangible assets Impairment of investments Impariment of intangible assets Net impairment of goodwill and intangible Loss/(Gain) in value of derivatives Ineffective and non-designated derivatives Restructuring costs Redundancies and restructuring Cost of Goods Sold Aircraft operating variable Cost of Goods Sold Fuel Sales and marketing expenses Selling and marketing Staff and Employee Expenses Manpower and staff related Occupancy Expenses Property Occupancy Expenses Capacity hire Operating lease expense Non-cancellable operating lease rentals Directors' Remuneration Directors' Remuneration Audit Fee Paid by Consolidated Entity to MaKPMG Australia - Audit and review of Finan Audit Fee Paid by Consolidated Entity to MaOverseas KPMG firms - Audit and review of Audit Fee for Non-audit Paid by ConsolidateOverseas KPMG firms - Taxation services Audit Fee for Non-audit Paid by ConsolidateOverseas KPMG firms - Other non-audit ser Audit Fee for Non-audit Paid by ConsolidateKPMG Australia - Other regulatory audit se Audit Fee for Non-audit Paid by ConsolidateKPMG Australia - Due diligence service Audit Fee for Non-audit Paid by ConsolidateKPMG Australia - Other audit related servic Audit Fee for Non-audit Paid by ConsolidateKPMG Australia - Taxation services Audit Fee for Non-audit Paid by ConsolidateKPMG Australia - Other non-audit services Other Operating Expenses Other expense Other Operating Expenses Computer and communication Other Operating Expenses Airport Security Charges Other Operating Expenses Contract Work Material Depreciation Depreciation - Buildings Depreciation Depreciation - Leasehold improvements Depreciation Depreciation - Plant and equipment Depreciation Depreciation - Aircraft and engines Depreciation Depreciation - Aircraft spare parts Other Amortisation Amortisation of Software Other Amortisation Amortisation of Customer contracts/relatio Adjusted for ineffectiveness and non-designated derivatives relating to other reportin Impairment of Goodwill 245,000,000.00 226,000,000.00 247,000,000.00 54,000,000.00 215,000,000.00 397,000,000.00 9,000,000.00 85,000,000.00 77,000,000.00 181,000,000.00 28,000,000.00 -157,000,000.00 -19,000,000.00 -20,000,000.00 -165,000,000.00 -206,000,000.00 -2,980,000,000.00 -4,220,000,000.00 -635,000,000.00 -3,774,000,000.00 -429,000,000.00 -266,000,000.00 -549,000,000.00 -2,981,000.00 -2,952,000.00 -325,000.00 -201,000.00 -36,000.00 -36,000.00 -61,000.00 -1,196,000.00 -410,000.00 -435,000.00 -449,000,000.00 -437,000,000.00 -131,000,000.00 -79,000,000.00 -13,000,000.00 -53,000,000.00 -82,000,000.00 -1,123,000,000.00 -54,000,000.00 -57,000,000.00 -2,000,000.00 -46,000,000.00 -18,000,000.00 Impairment of investments Impairment of property, plant and equipment Legal provisions Other redundancies and restructuring Qantas International Transformation - Redundancies and restructuring Write down of inventory Operating Revenue (sales) Net passenger revenue Operating Revenue (sales) Net freight revenue Operating Revenue (sales) Contract work revenue Operating Revenue (sales) Frequent Flyer store and other redemption Operating Revenue (sales) Frequent Flyer marketing revenue Operating Revenue (sales) Ancillary passenger revenue Operating Revenue (sales) Tours and travel revenue Operating Revenue (sales) Qantas Club Membership Fees Operating Revenue (sales) Freight Terminal Fee Revenue Operating Revenue (sales) Frequent Flyer membership feees and othe Other Operating Revenue Retailing, advertising and other property v Other Operating Revenue Other Other Operating Revenue Rolls-Royce Settlement Revenue Rental Income Lease revenue Commissions & Fees Earned Passenger service fees Gross Interest Income Interest income on financial assets measur Gross Interest Income Interest income from jointly controlled enti Gross Interest Income Unwind of discount on receivables Impairment of tangible assets Net impairment of property, plant and eq Loss/(Gain) in value of derivatives Ineffective portion of cash flow hedges Loss/(Gain) in value of derivatives Components of derivatives not hedge accou Cost of Goods Sold Fuel Cost of Goods Sold Aircraft operating variable Sales and marketing expenses Selling and marketing Staff and Employee Expenses Manpower and staff related Occupancy Expenses Property Occupancy Expenses Capacity hire Administration Expenses Airport Security Charges Operating lease expense Non-cancellable operating lease rentals Directors' Remuneration Directors' remuneration Audit Fee Paid by Consolidated Entity to MaAudit and review of Financial Report - Qan Audit Fee Paid by Consolidated Entity to MaAudit and review of Financial Report - KP Audit Fee for Non-audit Paid by ConsolidateDue diligence services - Qantas Group (exc Audit Fee for Non-audit Paid by ConsolidateOther audit related services - Qantas Group Audit Fee for Non-audit Paid by ConsolidateTaxation services - Qantas Group (excludin Audit Fee for Non-audit Paid by ConsolidateTaxation services - KPMG Audit Fee for Non-audit Paid by ConsolidateOther non-audit services - Qantas Group (e Audit Fee for Non-audit Paid by ConsolidateOther non-audit services - KPMG Audit Fee for Non-audit Paid by ConsolidateOther regulatory audit services - Qantas G Other Operating Expenses Other -19,000,000.00 -147,000,000.00 2,000,000.00 -5,000,000.00 -198,000,000.00 -13,000,000.00 12,042,000,000.00 842,000,000.00 347,000,000.00 204,000,000.00 193,000,000.00 90,000,000.00 84,000,000.00 84,000,000.00 73,000,000.00 10,000,000.00 54,000,000.00 249,000,000.00 95,000,000.00 186,000,000.00 341,000,000.00 166,000,000.00 10,000,000.00 16,000,000.00 -44,000,000.00 25,000,000.00 -145,000,000.00 -3,627,000,000.00 -2,749,000,000.00 -626,000,000.00 -3,739,000,000.00 -398,000,000.00 -258,000,000.00 -135,000,000.00 -566,000,000.00 -2,841,000.00 -2,787,000.00 -310,000.00 -180,000.00 -705,000.00 -318,000.00 -166,000.00 -165,000.00 -10,000.00 -27,000.00 -449,000,000.00 Other Operating Expenses Computer and communication Other Operating Expenses Contract Work Material Depreciation Depreciation and amortisation Legal provisions Net impairment of property, plant and equipment Net loss on disposal of investments and related transaction costs Redundancies, restructuring and other provisions Rolls-Royce Settlement Revenue -409,000,000.00 -111,000,000.00 -1,249,000,000.00 -25,000,000.00 -34,000,000.00 -20,000,000.00 -28,000,000.00 95,000,000.00 Tax Notes 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -- 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -- 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -- 0.00 -0.00 -- 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -- 0.00 -0.00 -0.00 -0.00 -0.00 -- ASX Code QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Company Name Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Item Operating Current Assets Non Int Bearing CL Operating Wkg Capital Net PP&E Intangibles Ex.Goodwill Net Oth Operating Assets Operating Invested Capital Ex-Goodwill Goodwill Operating Invested Capital Incl. Goodwill Cash Non Current Investments Total Investor Funds Total Equity Gross Borrowings Total Investor Funds EBIT Corp Tax Rate (%) Tax on EBIT Amortisation NOPLAT Tax Expense Tax Shield Tax on EBIT NOPLAT Depreciation Gross Cash Flow Gross Investment Free Cash Flow Total Current Debtors Prepayments Current Inventory Current Investments Oth Current Assets Creditors CL Provisions CL Other Curr Liab Working Capital Increase Debtors Increase Prepay Increase Inventory CA Increase Curr Invest Increase Oth CA Increase Creditors CL Increase Provisions CL Increase Other CL QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN QAN Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Qantas Airways Limited Increase Wkg Capital Capex Increase Capex Increase Wkg Capital Capex Gross Investment Funds from Operations Dividends Received Interest Received Interest Paid Other Operating Cash Purchase of PPE Surplus Funds - Post Capex Proceeds from PPE Surplus Funds - Post PPE Dividends Paid Surplus Funds - Post Div. Purchase of Investments Surplus Funds - Post Acquis. S/T Debt L/T Debt Total Gross Debt Increase S/T Debt Increase L/T Debt Change Gross Debt Cash Increase Cash Net Debt Increase Net Debt Capital Reserves Ex-SPR Share Prem Reserve Retained Profits Other Equity Convertible Equity Outside Equity Total Equity Increase in Capital Incr Reserves Ex-SPR Incr. Share Prem Res Increase Retain Profits Increase Other Equity Increase Convert Equity Increase Outside Equity Increase Total Equity Total Gross Debt QAN QAN Qantas Airways Limited Qantas Airways Limited Total Equity Total Capital Invested 06/05 3,503,600,000.00 -4,320,000,000.00 -816,400,000.00 12,612,500,000.00 45,300,000.00 -611,400,000.00 11,230,000,000.00 96,700,000.00 11,326,700,000.00 206,300,000.00 443,600,000.00 11,976,600,000.00 6,426,900,000.00 5,549,700,000.00 11,976,600,000.00 1,121,700,000.00 30.00 -343,250,000.00 252,300,000.00 1,030,750,000.00 -314,900,000.00 28,350,000.00 -343,250,000.00 1,030,750,000.00 847,700,000.00 1,885,190,000.00 -2,258,100,000.00 -372,910,000.00 3,012,900,000.00 82,100,000.00 332,600,000.00 0.00 76,000,000.00 2,254,000,000.00 486,100,000.00 1,579,900,000.00 -816,400,000.00 603,900,000.00 -51,500,000.00 -41,700,000.00 0.00 16,200,000.00 86,500,000.00 74,400,000.00 -209,200,000.00 06/06 2,150,800,000.00 -4,988,900,000.00 -2,838,100,000.00 12,375,000,000.00 199,700,000.00 -2,087,300,000.00 7,649,300,000.00 112,000,000.00 7,761,300,000.00 2,902,000,000.00 1,193,400,000.00 11,856,700,000.00 6,081,100,000.00 5,775,600,000.00 11,856,700,000.00 802,900,000.00 30.00 -207,580,000.00 0.00 595,320,000.00 -191,200,000.00 16,380,000.00 -207,580,000.00 595,320,000.00 1,249,800,000.00 1,811,830,000.00 494,600,000.00 2,306,430,000.00 1,228,700,000.00 86,400,000.00 334,800,000.00 476,700,000.00 24,200,000.00 1,988,000,000.00 680,600,000.00 2,320,300,000.00 -2,838,100,000.00 -1,784,200,000.00 4,300,000.00 2,200,000.00 476,700,000.00 -51,800,000.00 -266,000,000.00 194,500,000.00 740,400,000.00 06/07 2,271,100,000.00 -5,640,300,000.00 -3,369,200,000.00 12,308,300,000.00 233,100,000.00 -2,311,700,000.00 6,860,500,000.00 132,800,000.00 6,993,300,000.00 3,362,900,000.00 913,400,000.00 11,269,600,000.00 6,195,000,000.00 5,074,600,000.00 11,269,600,000.00 1,113,300,000.00 30.00 -316,970,000.00 0.00 796,330,000.00 -312,500,000.00 4,470,000.00 -316,970,000.00 796,330,000.00 1,362,700,000.00 2,142,010,000.00 -704,800,000.00 1,437,210,000.00 1,376,800,000.00 0.00 180,300,000.00 604,800,000.00 109,200,000.00 2,005,700,000.00 1,071,700,000.00 2,562,900,000.00 -3,369,200,000.00 148,100,000.00 -86,400,000.00 -154,500,000.00 128,100,000.00 85,000,000.00 17,700,000.00 391,100,000.00 242,600,000.00 06/08 3,017,200,000.00 -7,016,700,000.00 -3,999,500,000.00 12,341,000,000.00 301,900,000.00 -2,247,700,000.00 6,395,700,000.00 146,500,000.00 6,542,200,000.00 2,599,000,000.00 753,700,000.00 9,894,900,000.00 5,734,900,000.00 4,160,000,000.00 9,894,900,000.00 1,135,000,000.00 30.00 -424,220,000.00 0.00 710,780,000.00 -437,900,000.00 -13,680,000.00 -424,220,000.00 710,780,000.00 1,469,300,000.00 2,263,800,000.00 -793,700,000.00 1,470,100,000.00 1,434,900,000.00 0.00 215,700,000.00 1,076,000,000.00 290,600,000.00 2,173,900,000.00 1,547,800,000.00 3,295,000,000.00 -3,999,500,000.00 58,100,000.00 0.00 35,400,000.00 471,200,000.00 181,400,000.00 168,200,000.00 476,100,000.00 732,100,000.00 575,200,000.00 -1,682,900,000.00 308,300,000.00 575,200,000.00 -1,682,900,000.00 -2,258,100,00