| Income statements – years ended 30 September2 | |||||
 |
|||||
2007 |
2006 |
2005 |
2004 |
2003 |
|
$m |
$m |
$m |
$m |
$m |
|
 |
|||||
Net interest income |
6,313 |
5,642 |
5,259 |
4,755 |
4,326 |
|
|||||
Non-interest income |
3,860 |
3,575 |
3,454 |
3,255 |
3,004 |
|
|||||
Net operating income |
10,173 |
9,217 |
8,713 |
8,010 |
7,330 |
|
|||||
Operating expenses |
(4,543) |
(4,295) |
(4,159) |
(3,940) |
(3,763) |
|
|||||
Amortisation of goodwill |
– |
– |
– |
(164) |
(163) |
|
|||||
Impairment charges |
(482) |
(375) |
(382) |
(414) |
(485) |
|
|||||
Profit from ordinary activities before income tax expense |
5,148 |
4,547 |
4,172 |
3,492 |
2,919 |
|
|||||
Income tax expense |
(1,630) |
(1,422) |
(1,223) |
(913) |
(728) |
|
|||||
Net profit attributable to minority interests |
(67) |
(54) |
(251) |
(40) |
(8) |
|
|||||
Net profit attributable to equity holders |
3,451 |
3,071 |
2,698 |
2,539 |
2,183 |
|
|||||
Goodwill amortisation |
0 |
0 |
0 |
164 |
163 |
|
|||||
Distributions on other equity instruments |
0 |
0 |
49 |
(154) |
(75) |
|
|||||
TPS revaluations |
38 |
30 |
25 |
10 |
0 |
|
|||||
Treasury Shares |
29 |
9 |
32 |
0 |
0 |
|
|||||
Sale of sub-custody business |
0 |
(72) |
0 |
0 |
0 |
|
|||||
Unrealised NZ Retail earnings hedges |
(11) |
0 |
0 |
0 |
0 |
|
|||||
Deferred tax asset write-off |
0 |
41 |
0 |
0 |
0 |
|
|||||
Cash earnings |
3,507 |
3,079 |
2,804 |
2,559 |
2,271 |
|
|||||
1 The Summary Income Statement and the Summary Balance Sheet have been extracted from the Westpac 2007 audited Annual Report.
The 2007, 2006 and 2005 results are presented on an AIFRS basis. The 2004 and 2003 results are presented on the previous AGAAP basis.
2 For more detail please refer to the 2007 Westpac Annual Report, which is available at www.westpac.com.au/investorcentre.