Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.820

0.0%

Nov 7 9:30 AM EST

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To: Techplayer who wrote (11192)	11/18/1999 1:52:00 PM
From: Chuzzlewit	Read Replies (1) of 21876

Thread, Here is my tentative calculation of pre-tax cash flow. It is based On the balance sheets from last quarter's 10-Q and the income statement and balance sheet reported by LU for the quarter ending 9/30 The numbers do not reflect either taxes actually paid or interest paid. Operating Income as Reported* $1,229 Depreciation 171 ----- $1,400 Less <increase> decrease in A/R <952> Contracts in Process 235 Inventories 131 Other Current Assets <415> Estimated capitalized software development costs** <50> Plus increase <decrease> A/P 173 Payroll 299 Post Retirement Benefits <32> Other Current Liabilities <113> ----- Operating Cash Flow $676 Increase in Plant and Equipment <590> ----- Free cash flow before interest and taxes paid $86 ===== * Note that the company expensed $258 MM in merger connected costs How much of that was non-cash (and hence should be added back to operating earnings) is impossible to say because there is no breakdown. We must await LU's SEC filings for that information. ** A bit of a SWAG here. Last year the company averaged around $43 MM per quarter.

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