The resistances

and

are the physical resistances of the primary and the secondary windings.

The reactances

and

, known as leakage reactances, account for the magnetic coupling between the primary and the secondary.

is the excitation resistance.

The reactance

, known as the magnetizing reactance, allows for the current required to magnetize the core when the reluctance is not zero.

is iron core resistance with

.

is the load resistance on the secondary winding.

The reactance

is the load reactance on the secondary winding.

is the load resistance.

is the maximum magnetic flux in iron core.

is the primary current and

the secondary current.

is the no load current in the primary turns,

is the watt current, and

and is the reactive current.

is the primary voltage and

is the secondary voltage.

is the primary electromotive force and

is the secondary electromotive force.

is the primary leakage inductance electromotive force and

is the secondary leakage inductance electromotive force.

is the ratio of primary-to-secondary turns.