my revised nta calc arrives at 1.711, page-93

CT

That $143m would actually be booked as a profit but would lose out on the further potential profit they could have made as that $143m of derivative assets would be settled at a zero sum game for both parties. At 30 June 2008, the $143m would be a liability and as this now gets settled at a zero sum game, there is a write up of this amount

So instead of realising a massive writeup in derivative assets for the HY 31 Dec 08 including the $143m, they would need to write down the value of their derivative assets by the write up they have foregone.

Overall though they will still have a write up. It just wont be as big as initially planned.

Hope that makes sense

Cheers