Pancho or anyone,
Does INVESTING normally include capital items like
plant and equipment? Should the bulk of the investing
category be amortized purchase expenses, or capital gains
in the event of a sale?
Also, if a net $16 million went into property and equipment,
would you expect to see an increase in property and equipment
assets before depreciation?
CASH FLOW
...
INVESTING: Purchases and construction of property
and equipment (27,065) (20,612) (22,469)
Proceeds from sale of property and
equipment 10,946
Reserve fund deposit refunded (paid)
pursuant to securitization facility 10,000 (20,000)
Other, net 833 353
-------- -------- --------
Cash used in investing activities (16,119) (9,779) (42,116)
DECEMBER 31,
------------------
1997 1996
-------- --------
ASSETS
...
Property and equipment, at cost:
Land 21,667 22,550
Buildings 109,613 108,361
Leasehold improvements 402,503 400,340
Equipment and furnishings 91,958 99,073
-------- --------
625,741 630,324
Accumulated depreciation and amortization 314,544 304,865
-------- --------
Net property and equipment 311,197 325,459
ps. Thank you, Pancho, for the illuminating deconstruction
of the 10K. Capitalized sales commissions must be the
work of the genius who invented goodwill for purchase accounting. |
