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THE NEW YORKER AFTER THE GENOCIDE When a people m.docx
- 1. THE NEW YORKER AFTER THE GENOCIDE When a people murders up to a million fellow-countrymen, what does it mean to survive？ By Philip Gourevitch Decimation means the killing of every tenth person in a population, and in the spring and early summer of 1994 a program of massacres decimated the Republic of Rwanda. Although the killing was low-tech—performed largely by machete— it was carried out at dazzling speed: of an original population of seven million seven hundred thousand, at least eight hundred thousand were killed in just a hundred days. By comparison, Pol Pot's slaughter of a million Cambodians in four years looks amateurish, and the bloodletting in the former Yugoslavia measures up as little more than a neighborhood riot. The dead of Rwanda accumulated at nearly three times the rate of Jewish dead during the Holocaust. Members of the Hutu majority group began massacring the Tutsi minority in early April, and at the end of the month dead Tutsis were easier to find in Rwanda than live Tutsis. The hunt continued until mid-July, when a rebel army conquered Rwanda and brought the massacres to a halt.
- 2. That October, a United Nations Commission of Experts found that the "concerted, planned, systematic and methodical" acts of "mass extermination perpetrated by Hutu elements against the Tutsi group"in Rwaxnda "constitute genocide." (This week, the International Tribunal for Rwanda is expected to hand down its first indictment of Rwandans charged with participation in the genocide.） Hutus in Rwanda had been massacring Tutsis on and off since the waning days of Belgian colonial rule, in the late fifties.These state-sanctioned killings were generally referred to as "work." or "clearing the bush."The current crisis was triggered in 1990. Sheet1Financial Ratio TemplateRatioFormulaSource of DataType of Financial RatioCurrent Ratio(Current Assets/Current Liabilities)Balance SheetLiquidityAcid Test (Quick) Ratio(Current Assets - Inventory)/(Current Liabilities)Balance SheetLiquidityAverage Collection Period(Accounts Receivable)/(Annual Credit Sales/365)Balance Sheet and Income StatementLiquidityAccounts Receivable Turnover(Annual Credit Sales)/(Accounts Receivable)Balance Sheet and Income StatementLiquidityInventory Turnover(Cost of Goods Sold)/(Inventory)Balance Sheet and Income StatementLiquidityFree cash flow(Operating Cash Flow) - (Capital expenditures) Cash FlowCapital StructureDebt Ratio(Total Assets)/(Total Liabilities)Balance SheetCapital StructureTimes Interest Earned(Net Operating Income or EBIT)/(Interest Expense)Income StatementCapital StructureTotal Asset Turnover(Sales)/(Total Assets)Balance Sheet and Income StatementAsset Management RatiosFixed Asset Turnover(Sales)/(Net Plant and Equipment)Balance Sheet and Income StatementAsset Management RatiosGross Profit Margin(Gross Profit)/(Sales)Income StatementProfitability
- 3. RatiosOperating Profit Margin(Net Operating Income or EBIT)/(Sales)Income StatementProfitability RatiosNet Profit Margin(Net Income)/(Sales)Income StatementProfitability RatiosOperating Return on Assets(Net Operating Income or EBIT)/(Total Assets)Balance Sheet and Income StatementProfitability RatiosReturn on equity(Net Income)/(Common Equity)Balance Sheet and Income StatementProfitability Ratios -DuPont Method = (ROE)(Net Income)/(Sales)*(Sales/Total Assets)*(1)/(1-Debt Ratio) = (Net Profit Margin)*(Total Asset Turnover)*Equity Multiplier Balance Sheet and Income StatementProfitability RatiosDebt/equity ratio(Total Liabilities)/(Stockholder's Equity)Balance SheetProfitability RatiosEarnings per share(Net Income)/(# of Share Common Stock Outstanding)Daily Market Data and Income StatementMarket Value RatiosPrice/earnings ratio (PE)(Market Price Per Share)/(Earnings Per Share) = (Current Stock Price) /(Net Income/# of Shares Common Stock Outstanding)Daily Market Data and Income StatementMarket Value Ratios 2014 Balance SheetThe Walt Disney CompanyBalance SheetPeriod EndingSeptember 27, 2014AssetsCurrent AssetsCash And Cash Equivalents3,421,000 Short Term Investments- Net Receivables8,319,000 Inventory1,574,000 Other Current Assets1,862,000 Total Current Assets 15,176,000 Long Term Investments2,696,000 Property Plant and Equipment23,332,000 Goodwill27,881,000 Intangible Assets7,434,000 Accumulated Amortization- Other Assets7,667,000 Deferred Long Term Asset Charges- Total Assets 84,186,000 LiabilitiesCurrent LiabilitiesAccounts Payable7,595,000 Short/Current Long Term Debt2,164,000 Other Current Liabilities3,533,000 Total Current Liabilities 13,292,000 Long Term Debt12,676,000 Other Liabilities5,942,000 Deferred Long Term Liability Charges4,098,000 Minority
- 4. Interest3,220,000 Negative Goodwill- Total Liabilities 39,228,000 Stockholders' EquityMisc Stocks Options Warrants- Redeemable Preferred Stock- Preferred Stock- Common Stock34,301,000 Retained Earnings53,734,000 Treasury Stock(41,109,000.00)Capital Surplus- Other Stockholder Equity(1,968,000.00)Total Stockholder Equity 44,958,000 Net Tangible Assets 9,643,000 Reference: 2014 Income StatementThe Walt Disney CompanyIncome StatementPeriod EndingSeptember 27, 2014Total Revenue 48,813,000 Cost of Revenue26,420,000 Gross Profit 22,393,000 Operating ExpensesResearch Development- Selling General and Administrative8,565,000 Non Recurring140,000 Others2,288,000 Total Operating Expenses- Operating Income or Loss 11,400,000 Income from Continuing OperationsTotal Other Income/Expenses Net(31,000.00)Earnings Before Interest And Taxes12,246,000 Interest Expense- Income Before Tax12,246,000 Income Tax Expense4,242,000 Minority Interest(503,000.00)Net Income From Continuing Ops8,355,000 Non-recurring EventsDiscontinued Operations- Extraordinary Items- Effect Of Accounting Changes- Other Items- Net Income 7,501,000 Preferred Stock And Other Adjustments- Net Income Applicable To Common Shares 7,501,000 Reference: 2014 Cash FlowThe Walt Disney CompanyCash FlowPeriod EndingSeptember 27, 2014Net Income 7,501,000 Operating Activities, Cash Flows Provided By or Used InDepreciation2,288,000 Adjustments To Net Income(240,000.00)Changes In Accounts Receivables(480,000.00)Changes In Liabilities440,000 Changes In Inventories(81,000.00)Changes In Other Operating Activities(151,000.00)Total Cash Flow From Operating Activities 9,780,000 Investing Activities, Cash Flows Provided By or Used InCapital Expenditures(3,311,000.00)Investments395,000 Other Cash
- 5. flows from Investing Activities(429,000.00)Total Cash Flows From Investing Activities (3,345,000.00)Financing Activities, Cash Flows Provided By or Used InDividends Paid(1,508,000.00)Sale Purchase of Stock(6,123,000.00)Net Borrowings633,000 Other Cash Flows from Financing Activities288,000 Total Cash Flows From Financing Activities (6,710,000.00)Effect Of Exchange Rate Changes(235,000.00)Change In Cash and Cash Equivalents (510,000.00)Reference: Stock PricesThe Walt Disney CompanyStock PricesDateAdj CloseOct 5, 2015103.85Oct 2, 2015103.00Oct 1, 2015102.67Sep 30, 2015102.20Sep 29, 201599.42Sep 28, 201598.49Sep 25, 2015100.30Rate of Return3.54Reference: FIN 320 Module Four Excel Assignment Rubric This assignment builds on the work you did for the Excel assignment in Module Three. To get started, find and open the file you submitted. From there, complete the following steps: Financial Data Using the same company you selected in Module Three, add another two years of financial statement data so that you have three years of annual data to review for historical analysis. In all, your Excel file must include the following: o Three worksheets of annual balance sheet data o Three worksheets of annual income statement data o Three worksheets of annual statement of cash flow data Important Note: Be sure to label each worksheet in Excel with the appropriate year, as you did in the Module Three assignment. Ratio Calculation
- 6. On each data tab, use formulas to calculate the following financial indicators for each year of data: · Current ratio o Debt/equity ratio o Free cash flow o Earnings per share o Price/earnings ratio o Return on equity · Net profit margin Written Responses In a separate Word document, respond to the following: · Describe how and why each of the ratios has changed over the three-year period. For example, did the current ratio increase or decrease? Why? · Describe how three of the ratios you calculated for your company compare to the general industry. Find general industry data by entering your specific company’s ticker symbol here. If you are not familiar with the Write Submission feature, see the screen shot below. Professionalism, References, and Mechanics Format the data on all worksheets so that the file has a neat and professional appearance. Include links and properly formatted citations referencing the location of the data used. Your written responses should be free of errors in organization, grammar, and style. Guidelines for Submission: Submit an Excel file that meets the criteria described in the prompt. The written responses should be done in a Word document. Citations should be formatted according to APA style. Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%)
- 7. Not Evident(0%) Value Financial Data Meets “Proficient” criteria and presents information in a wellorganized manner with clearly labeled tabs and data sections Includes three years of financial statement data (three annual balance sheets, three annual income statements, and three annual statements of cash flows) for the company selected, with minor errors or no errors Includes three years of financial statement data (three annual balance sheets, three annual income statements, and three annual statements of cash flows) for the company selected, with noticeable errors Does not include three years of financial statement data (three annual balance sheets, three annual income statements, and three annual statements of cash flows) for the company selected 20 Ratio Calculation Meets “Proficient” criteria and presents information in a clear and well-organized manner Accurately calculates the financial indicators (current ratio, debt/equity ratio, free cash flow, earnings per share, price/earnings ratio, return on equity, and net profit margin), with minor errors or no errors Calculates the financial indicators (current ratio, debt/equity ratio, free cash flow, earnings per share, price/earnings ratio, return on equity, and net profit margin), with noticeable errors Does not calculate the financial indicators (current ratio, debt/equity ratio, free cash flow, earnings per share, price/earnings ratio, return on equity, and net profit margin) 40 Written Responses: Changes in Ratios Meets “Proficient” criteria and includes supporting details and data Describes how and why each of the ratios has changed over the
- 8. three-year period in a clear and logical manner Describes how and why each of the ratios has changed over the three-year period but presents some information in an unclear or illogical manner Does not describe how and why each of the ratios has changed over the three-year period 15 Written Responses: Comparison to Industry Meets “Proficient” criteria and includes supporting details and data Describes how the selected ratios compare to the general industry in a clear and logical manner Describes how the selected ratios compare to the general industry but presents some information in an unclear or illogical manner Does not describe how the selected ratios compare to the general industry 15 Professionalism, References, and Mechanics Meets “Proficient” criteria, and the material is presented in an especially polished and easy to read format Formats data with a neat and professional appearance and includes properly formatted APA-style citations and links with minor errors or no errors; any errors related to organization, grammar, and style are minor Formats data and provides citations and links, but there are deficiencies in the appearance of the data and/or flaws in the citation formatting; there are some errors related to organization, grammar, and style Does not format data with a neat and professional appearance or include properly formatted APA-style citations and links; there are major errors related to organization, grammar, and style 10
- 9. Earned Total 100% Company A 2015 Balance SheetCompany A Name & Stock SymbolTip: F2 key let's you easily edit cell data.Exchange rate used is that of the Year End reported date See Ratios on 2017 Balance Sheet (Students: Let your instructor know where your ratios are located if it's not on the first tab.)As Reported Annual Balance Sheet Students: It's also acceptable to put three years' of data on one tab.Report Date12/31/15CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsCash & cash equivalents845,889Restricted cash & marketable securities- Restricted cash3,012Accounts receivable49,109Raw materials184,665Work in process42,500Finished goods69,324Service parts43,866Inventory340,355Prepaid expenses & other current assets27,574Total current assets1,265,939Operating lease vehicles, net382,425Machinery, equipment & office furniture322,394Tooling230,385Leasehold improvements94,763Building & building improvements67,707Land45,020Computer equipment & software42,073Construction in progress76,294Property & equipment, gross878,636Less: accumulated depreciation & amortization140,142Property & equipment, net738,494Restricted cash6,435Emission credits13,930Debt issuance costs, net7,315Other assets2,392Other assets23,637Other assets-Total assets2,416,930Accounts payable303,969Accrued warranty, current portion19,917Build to suit finance obligation, current portion-Accrued interest- Environmental liabilities, current portion2,132Other accrued expenses2,578Taxes payable38,067Accrued purchases19,023Payroll & related costs26,535Warranty & other accrued expenses-Accrued liabilities108,252Deferred revenue91,882Resale value guarantee-Capital lease obligations, current portion7,722Customer deposits163,153Convertible debt,
- 10. current portion182Long term debt & capital leases-Total current liabilities675,160Deferred revenue181,180Long term debt & capital leases-Resale value guarantee236,299Capital lease obligations, less current portion12,855Convertible debt, less current portion586,119Accrued warranty, less current portion33,265Deferred rent liability9,886Deferred tax liabilities6,821Environmental liabilities, less current portion3,364Other long-term liabilities4,861Other long-term liabilities-Other long-term liabilities-Convertible senior notes- Total liabilities1,749,810Common stock123Additional paid-in capital1,806,617Accumulated other comprehensive income (loss)-Data quality check:Retained earnings (accumulated deficit)-1,139,620Assets =Liabilities + EquityTotal stockholders' equity (deficit)667,1202,416,9302,416,930Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2016 Balance SheetCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date12/31/16CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsCash & cash equivalents1,905,713Restricted cash & marketable securities17,947Restricted cash-Accounts receivable226,604Raw materials392,292Work in process56,114Finished goods397,318Service parts107,951Inventory953,675Prepaid expenses & other current assets94,718Total current assets3,198,657Operating lease vehicles, net766,744Machinery, equipment & office furniture720,746Tooling295,906Leasehold improvements230,270Building & building improvements154,362Land49,478Computer equipment & software98,970Construction in progress572,125Property & equipment, gross2,121,857Less: accumulated depreciation & amortization292,590Property & equipment, net1,829,267Restricted cash11,374Emission credits-Debt
- 11. issuance costs, net-Other assets-Other assets-Other assets43,209Total assets5,849,251Accounts payable777,946Accrued warranty, current portion32,321Build to suit finance obligation, current portion21,030Accrued interest7,222Environmental liabilities, current portion3,573Other accrued expenses10,470Taxes payable71,229Accrued purchases68,547Payroll & related costs54,492Warranty & other accrued expenses-Accrued liabilities268,884Deferred revenue191,651Resale value guarantee-Capital lease obligations, current portion9,532Customer deposits257,587Convertible debt, current portion601,566Long term debt & capital leases-Total current liabilities2,107,166Deferred revenue292,271Long term debt & capital leases-Resale value guarantee487,879Capital lease obligations, less current portion12,267Convertible debt, less current portion1,806,518Accrued warranty, less current portion- Deferred rent liability-Deferred tax liabilities-Environmental liabilities, less current portion-Other long-term liabilities-Other long-term liabilities-Other long-term liabilities173,244Convertible senior notes58,196Total liabilities4,937,541Common stock126Additional paid-in capital2,345,266Accumulated other comprehensive income (loss)-Data quality check:Retained earnings (accumulated deficit)-1,433,682Assets =Liabilities + EquityTotal stockholders' equity (deficit)911,7105,849,2515,849,251Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2017 Balance SheetCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date12/31/17CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsCash & cash equivalents1,196,908RatiosIndustry Average (Students: include a reference for this data too)Restricted cash & marketable securities22,628201720162015Restricted cash-Accounts
- 12. receivable168,965Current Ratio0.991.521.88Raw materials528,935Debt / Equity Ratio6.435.422.62109.19Work in process163,830Free Cash Flow (000)-$2,159,349-$1,027,222- $6,230Finished goods476,512Earnings per Share$ (6.93)$ (2.36)$ (0.62)1.63Service parts108,561Price / earnings ratio- 34.62-94.20-242.7213.00Inventory1,277,838Return on Equity- 81.61%-32.25%-11.09%12.40%Prepaid expenses & other current assets125,229Net profit margin -21.96%-9.19%- 3.68%5.00%Total current assets2,791,568Stock DataOperating lease vehicles, net1,791,403Number of Shares Outstanding131,425125,688123,091Machinery, equipment & office furniture1,694,910Closing Price Last Business Day in December240.01222.41150.43Tooling550,902Leasehold improvements338,392Building & building improvements461,303Land60,234Computer equipment & software175,512Construction in progress693,207Property & equipment, gross3,974,460Less: accumulated depreciation & amortization571,126Property & equipment, net3,403,334Restricted cash31,522Emission credits-Debt issuance costs, net-Other assets-Other assets-Other assets74,633Total assets8,092,460Accounts payable916,148Accrued warranty, current portion-Build to suit finance obligation, current portion-Accrued interest- Environmental liabilities, current portion-Other accrued expenses-Taxes payable101,206Accrued purchases140,540Payroll & related costs86,859Warranty & other accrued expenses94,193Accrued liabilities422,798Deferred revenue423,961Resale value guarantee136,831Capital lease obligations, current portion- Customer deposits283,370Convertible debt, current portion- Long term debt & capital leases633,166Total current liabilities2,816,274Deferred revenue446,105Long term debt & capital leases2,040,375Resale value guarantee1,293,741Capital lease obligations, less current portion-Convertible debt, less current portion-Accrued warranty, less current portion-Deferred rent liability-Deferred tax liabilities-Environmental liabilities,
- 13. less current portion-Other long-term liabilities-Other long-term liabilities-Other long-term liabilities364,976Convertible senior notes42,045Total liabilities7,003,516Common stock131Additional paid-in capital3,414,692Accumulated other comprehensive income (loss)-3,556Data quality check:Retained earnings (accumulated deficit)-2,322,323Assets =Liabilities + EquityTotal stockholders' equity (deficit)1,088,9448,092,4608,092,460References (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here)Industry Averages. (2018). Industry: Example Only - Major. Retrieved February 11, 2018 from: (link to industry averages here) Company A 2015 Income StatementCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date12/31/15CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsDevelopment services15,710Automotive sales1,997,786Services & other revenues-Total revenues2,013,496Development services13,356Automotive sales1,543,878Services & other cost of revenues-Total cost of revenues1,557,234Gross profit (loss)456,262Research & development231,976Selling, general & administrative285,569Total operating expenses517,545Income (loss) from operations-61,283Interest income189Interest expense32,934Other income (expense), net22,602Income (loss) before income taxes - domestic- 75,279Income (loss) before income taxes - international3,853Income (loss) before income taxes- 71,426Current state income taxes (benefit)178Current foreign income taxes (benefit)2,349Current income taxes (benefit)2,527Deferred foreign income taxes (benefit)61Deferred income taxes (benefit)61Provision for income taxes (benefit)2,588Net income (loss)-74,014Weighted average shares outstanding-basic119,421Weighted average shares outstanding-diluted119,421Year end shares
- 14. outstanding123,091Net income (loss) per share - basic-1Net income (loss) per share - diluted-1Number of full time employees5,859Number of common stockholders699Foreign currency translation adjustments-Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2016 Income StatementCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date12/31/16CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsDevelopment services5,633Automotive sales3,192,723Services & other revenues-Total revenues3,198,356Development services6,674Automotive sales2,310,011Services & other cost of revenues-Total cost of revenues2,316,685Gross profit (loss)881,671Research & development464,700Selling, general & administrative603,660Total operating expenses1,068,360Income (loss) from operations- 186,689Interest income1,126Interest expense100,886Other income (expense), net1,813Income (loss) before income taxes - domestic-60,451Income (loss) before income taxes - international-224,185Income (loss) before income taxes- 284,636Current state income taxes (benefit)257Current foreign income taxes (benefit)9,203Current income taxes (benefit)9,460Deferred foreign income taxes (benefit)- 56Deferred income taxes (benefit)-56Provision for income taxes (benefit)9,404Net income (loss)-294,040Weighted average shares outstanding-basic124,539Weighted average shares outstanding-diluted124,539Year end shares outstanding125,688Net income (loss) per share - basic-2Net income (loss) per share - diluted-2Number of full time employees10,161Number of common stockholders769Foreign currency translation adjustments-Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2017 Income StatementCompany A Name & Stock
- 15. SymbolExchange rate used is that of the Year End reported date As Reported Annual Income Statement Report Date12/31/17CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsDevelopment services-Automotive sales3,740,973Services & other revenues305,052Total revenues4,046,025Development services- Automotive sales2,823,302Services & other cost of revenues299,220Total cost of revenues3,122,522Gross profit (loss)923,503Research & development717,900Selling, general & administrative922,232Total operating expenses1,640,132Income (loss) from operations- 716,629Interest income1,508Interest expense118,851Other income (expense), net-41,652Income (loss) before income taxes - domestic-415,694Income (loss) before income taxes - international-459,930Income (loss) before income taxes- 875,624Current state income taxes (benefit)525Current foreign income taxes (benefit)10,342Current income taxes (benefit)10,867Deferred foreign income taxes (benefit)2,172Deferred income taxes (benefit)2,172Provision for income taxes (benefit)13,039Net income (loss)- 888,663Weighted average shares outstanding- basic128,202Weighted average shares outstanding- diluted128,202Year end shares outstanding131,425Net income (loss) per share - basic-7Net income (loss) per share - diluted- 7Number of full time employees13,058Number of common stockholders836Foreign currency translation adjustments- 10,999Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2015 Cash FlowCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date12/31/15CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsNet income (loss)- 74,014Depreciation & amortization106,083Stock-based compensation80,737Amortization of discount on convertible
- 16. debt9,143Inventory write-downs8,918Write-off of Department of Energy (DOE) loan origination costs5,558Change in fair value of DOE warrant liability-10,692Fixed asset disposal- Other non-cash operating activities3,611Foreign currency transaction loss (gain)3,655Account receivables- 21,917Inventories & operating lease vehicles-463,270Prepaid expenses & other current assets-17,466Other assets- 342Accounts payable-243Accrued liabilities66,567Accounts payable & accrued expenses-Deferred revenue268,153Customer deposits24,243Resale value guarantee236,299Other long-term liabilities32,971Net cash flows from operating activities257,994Purchases of property & equipment excluding capital leases-264,224Withdrawals out of (transfers into) our dedicated Department of Energy account, net14,752Decrease (increase) in restricted cash55Purchase of short-term marketable securities-Maturities of short-term marketable securities- Business acquisition-Net cash flows from investing activities- 249,417Proceeds from issuance of convertible debt660,000Proceeds from issuance of convertible debt & other debt-Proceeds from issuance of common stock in public360,000Proceeds from issuance of warrants120,318Proceeds from exercise of stock options & other stock issuances95,307Proceeds from issuance of common stock in private placements55,000Principal payments on DOE loans-452,337Purchase of convertible note hedges- 177,540Common stock & convertible debt issuance costs- 16,901Principal payments on capital leases & other debt- 8,425Collateralized lease borrowings-Net cash flows from financing activities635,422Effect of exchange rate changes on cash & cash equivalents-Net increase (decrease) in cash & cash equivalents643,999Cash & cash equivalents at beginning of period201,890Cash & cash equivalents at end of period845,889Interest paid9,041Income taxes paid257Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2016 Cash FlowCompany A Name & Stock
- 17. SymbolExchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date12/31/16CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsNet income (loss)- 294,040Depreciation & amortization231,931Stock-based compensation156,496Amortization of discount on convertible debt69,734Inventory write-downs15,609Write-off of Department of Energy (DOE) loan origination costs-Change in fair value of DOE warrant liability-Fixed asset disposal14,178Other non-cash operating activities7,471Foreign currency transaction loss (gain)-1,891Account receivables- 183,658Inventories & operating lease vehicles- 1,050,264Prepaid expenses & other current assets-60,637Other assets-4,493Accounts payable252,781Accrued liabilities162,075Accounts payable & accrued expenses- Deferred revenue209,681Customer deposits106,230Resale value guarantee249,492Other long-term liabilities61,968Net cash flows from operating activities-57,337Purchases of property & equipment excluding capital leases-969,885Withdrawals out of (transfers into) our dedicated Department of Energy account, net-Decrease (increase) in restricted cash-3,849Purchase of short-term marketable securities-205,841Maturities of short- term marketable securities189,131Business acquisition-Net cash flows from investing activities-990,444Proceeds from issuance of convertible debt2,300,000Proceeds from issuance of convertible debt & other debt-Proceeds from issuance of common stock in public-Proceeds from issuance of warrants389,160Proceeds from exercise of stock options & other stock issuances100,455Proceeds from issuance of common stock in private placements-Principal payments on DOE loans- Purchase of convertible note hedges-603,428Common stock & convertible debt issuance costs-35,149Principal payments on capital leases & other debt-11,179Collateralized lease borrowings3,271Net cash flows from financing activities2,143,130Effect of exchange rate changes on cash & cash equivalents-35,525Net increase (decrease) in cash & cash
- 18. equivalents1,059,824Cash & cash equivalents at beginning of period845,889Cash & cash equivalents at end of period1,905,713Interest paid20,539Income taxes paid3,120Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A 2017 Cash FlowCompany A Name & Stock SymbolExchange rate used is that of the Year End reported date As Reported Annual Cash Flow Report Date12/31/17CurrencyUSDAudit StatusNot QualifiedConsolidatedYesScaleThousandsNet income (loss)- 888,663Depreciation & amortization422,590Stock-based compensation197,999Amortization of discount on convertible debt72,063Inventory write-downs44,940Write-off of Department of Energy (DOE) loan origination costs-Change in fair value of DOE warrant liability-Fixed asset disposal37,723Other non-cash operating activities26,373Foreign currency transaction loss (gain)55,765Account receivables46,267Inventories & operating lease vehicles- 1,573,860Prepaid expenses & other current assets-29,595Other assets-24,362Accounts payable-Accrued liabilities-Accounts payable & accrued expenses263,345Deferred revenue322,203Customer deposits36,721Resale value guarantee442,295Other long-term liabilities23,697Net cash flows from operating activities-524,499Purchases of property & equipment excluding capital leases-1,634,850Withdrawals out of (transfers into) our dedicated Department of Energy account, net-Decrease (increase) in restricted cash-26,441Purchase of short-term marketable securities-Maturities of short-term marketable securities-Business acquisition-12,260Net cash flows from investing activities-1,673,551Proceeds from issuance of convertible debt-Proceeds from issuance of convertible debt & other debt318,972Proceeds from issuance of common stock in public730,000Proceeds from issuance of warrants-Proceeds from exercise of stock options & other stock issuances106,611Proceeds from issuance of common stock in
- 19. private placements20,000Principal payments on DOE loans- Purchase of convertible note hedges-Common stock & convertible debt issuance costs-17,025Principal payments on capital leases & other debt-203,780Collateralized lease borrowings568,745Net cash flows from financing activities1,523,523Effect of exchange rate changes on cash & cash equivalents-34,278Net increase (decrease) in cash & cash equivalents-708,805Cash & cash equivalents at beginning of period1,905,713Cash & cash equivalents at end of period1,196,908Interest paid32,060Income taxes paid9,461Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here) Company A Stock HistoryCompany A Name & Stock SymbolIssue: Date: From 01/01/2015 to 12/31/2017 Frequency: daily Adjusted Prices Three Year Rate of Return590.28%Historical Pricing (prices here are for example purposes only)DateOpenHighLowCloseVolumePrice Move (%)12/29/2017238.51243.45238.37240.0127147210.8112/28/20 17236.6243.634235.671238.0936977580.3812/27/2017230.0623 7.72229.547237.1924041953.612/26/2017231.49231.98225.542 28.951900583- 0.712/22/2017230.56231.88228.28230.577102770.3812/21/2017 232.18233.45228.13229.71554845- 0.1112/20/2017234.99236.55229.63229.951961155- 1.1212/19/2017231.69235.83231.08232.5619524210.9112/18/20 17232.89235.9229.29230.463013811- 1.2612/15/2017233.94237.76229.815233.393297858- 0.4812/14/2017222.1234.88220.73234.5151039866.0712/13/201 7221.82222.22218221.0922442241.1512/12/2017217.51220.922 14.87218.5828306730.7212/11/2017225.24225.75216.64217.02 3266096- 4.4312/08/2017224.71228.49223.64227.0720715581.1412/07/20 17226.7227.5220.72224.523057438- 0.9712/06/2017227.52228.8224.2226.722685928-
- 39. 1311.9401/20/201534.7434.7833.8234.5235550740.4101/16/201 534.1634.8533.9234.3814366040.8201/15/201533.8534.2333.73 34.113781380.5901/14/201533.1134.2533.0833.916243891.920 1/13/201533.0833.3832.8533.269250181.0601/12/201534.0434. 0432.1132.911563174- 1.8501/09/201533.8733.9933.3833.53922405- 0.3301/08/201534.0134.1933.433.64697979- 0.1201/07/201534.534.533.1133.681283985- 1.9201/06/201534.834.833.934.34441909- 0.1701/05/201534.834.833.9234.4673993- 1.0601/02/201535.1835.4534.7534.77741941-1.67Reference (example)Mergent Online. (2018). Company A Retrieved January 21, 2018 from: (link to financial statement here)