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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (10567)	10/17/2002 4:08:18 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 19428

For someone who hangs out in the CFZ I'm very surprised at how badly you've mangled the meaning of those figures. - For starters, that's annual data, not the quarters that end in March. - "Cash from operations" does not "come from" depreciation and amortization. You add it (among other items) to net income in order to determine cash flow. - "Cashflow-investing" includes capital expenditures. U-Haul routinely plows most of its profits into cap-ex. Much of that is replacing older vehicles with new ones ("practically being given away"), some of it may be expansion. This is why that figure is such a large negative, and why "free" cash flow (FCF) is negligible. While I'm at it, could you supply previous years' numbers on obligations so that we can tell whether the debt situation is deteriorating? Not trying to bull UHAL, just disappointed at such a sloppy bear case.