#CASH FLOW DEFINITION FREE#
Instead, we believe that EBITDA (from continuing operations) and Free Operating Cash Flow are useful performance measures which should be considered in addition to those measures reported in accordance with GAAP. Excludes Decorative Surfaces and discontinued operations** Excludes Decorative Surfaces.Invested CapitalROIC FY 2013 Free Operating Cash Flow conversion forecasted to be close to 100% of Income from Continuing Operations Group SG&A expenditure - potential payout of 30% of the maximum payout.įOCF ( Free Operating Cash Flow) is the equivalent of operating surplus as defined in par.Group Free Operating Cash Flow - potential payout of 35% of the maximum payout.Group EBITA - potential payout of 35% of the maximum payout.
#CASH FLOW DEFINITION PLUS#
We suggest that these two messages are collapsed as illustrated in Figure 9 in order to save bandwidth.įree Operating Cash Flow (FOCF)FOCF is a non-GAAP financial measure and is defined by the Company as cash provided by operations (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets.īorrower and Guarantors have requested that Lender temporarily waive the Existing Defaults and additional defaults under the provisions covered by the Existing Defaults, excluding, however, the following (the “Excluded Defaults”): (i) any additional defaults under the additional debt prohibitions in Subsection (h) of Section 7 of the Loan Agreement, and (ii) any additional defaults under the use of Free Operating Cash Flow prohibitions in Subsection (h) of Section 8 of the Loan Agreement.įor 2014, the following performance indicators were confirmed: IndustrialWidiaInfrastructure(in thousands, except percents)SalesOperating income(2)SalesOperating income(2)SalesOperating income(2) Free Operating Cash Flow (FOCF)FOCF is a non-GAAP financial measure and is defined by the Company as net cash flow provided by operating activities (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets. IndustrialWidiaInfrastructure(in thousands, except percents)SalesOperating incomeSalesOperating incomeSalesOperating income Free Operating Cash Flow (FOCF)FOCF is a non-GAAP financial measure and is defined by the Company as net cash flow provided by operating activities (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets.
#CASH FLOW DEFINITION SOFTWARE#
The following items shall be excluded from, and have no effect on, the calculation of Free Operating Cash Flow: (i) any accelerated write- offs or write- downs of intangible assets (such as software or goodwill) or fixed assets, (ii) depreciation and amortization, ( iii) expenditures which in the ordinary course of business would typically be funded through financing activities (this provision is not intended to include normal purchases of computer equipment, but is intended to include major leasehold improvements or large scale replacement of computer technology).Įxamples of Free Operating Cash Flow in a sentenceįree Operating Cash Flow (FOCF)FOCF is a non-GAAP financial measure and is defined by the Company as net cash flow provided by operating activities (which is the most directly comparable GAAP financial measure) less capital expenditures plus proceeds from disposals of fixed assets. Payments to RIN under the provisions of Article VI shall be deducted in calculating Free Operating Cash Flow to the extent such payments have been paid and have not been deducted pursuant to the preceding sentence. Free Operating Cash Flow means the cumulative total over the immediately preceding four calendar quarters of Operator's cash flows from operating activities, as determined in accordance with generally accepted accounting principles consistently applied and reported in Operator's statement of cash flows.
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