However, Tullow's generating 2.0 B
of cash from operations, so it has ample flexibility to deal with its debt / debt servicing — no (negative) debt adjustment's required here.
What assumptions would be reasonable to make over the next several years regarding key revenue and cost drivers, investments in overhead, working capital and capital expenditures, and other sources / uses
of cash from operations?
Future acquisitions could require substantial additional capital in excess
of cash from operations.
Not exact matches
Net
cash flow
from portfolio management
operations was a negative $ 165 million following the acquisition
of XL Brands in early January.
Important factors that could cause actual results to differ materially
from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting
from cancellations, deferrals, or reduced orders by their customers or
from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our
operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover
from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition
from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our
cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Cash flow
from operations — a key metric
of financial health in the oil industry — came in at $ 7.4 billion for the quarter, matching the year - earlier period.
Genmab has morphed
from a
cash - burning
operation into a profitable business especially due to the success
of blood cancer drug Darzalex, on which it is paid a royalty
of 12 to 20 percent on sales
of the drug.
Repeat business over time equals profits, and if the business is generating some type
of cash flow (or even slightly negative
cash flow)
from repeat customers, there's a good chance the business could generate consistent
cash flow and profits with a few tweaks to its current
operations.
We refer to the net amount
of cash generated
from operating activities and investing activities (excluding changes in restricted
cash and acquisitions)
from continuing
operations as «free
cash flow».
The following tables provide reconciliations
of adjusted
cash flows
from operations, adjusted net income (loss) and adjusted EBITDAX to their most comparable U.S. GAAP measures (in millions, except per share data):
Adjusted
cash flows
from operations, a non-GAAP financial measure defined below, were $ 174.9 million in the first quarter
of 2018, compared to $ 113.7 million in the comparable 2017 period.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel, financial condition
of commercial airlines, the impact
of weather conditions and natural disasters and the financial condition
of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services
from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal
from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their
operation of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
It would be naïve to think that people won't still attempt unlicensed grow
operations in the hopes
of profiting
from a
cash crop.
«We improved our costs and earnings to emerge as a financially stronger business, with
cash from continuing
operations of $ 1.5 billion and free
cash flow
of $ 341 million,» president and CEO Gary J. Goldberg said in the company's 2014 annual report.
He has an outperform rating on the stock because
of «its attractive earnings and free
cash flow growth profile, driven by existing
operations and contributions
from recent acquisitions.»
It also counted 180,000 barrels
of upgraded oil per day
from the oilsands
operations it bought for about $ 11.1 billion in
cash and shares
from Royal Dutch Shell last spring.
We would expect to finance the capital required for acquisitions through a combination
of additional issuances
of equity, corporate indebtedness, asset - backed acquisition financing and / or
cash from operations.
If we do not generate sufficient
cash flow
from operations to satisfy the debt service obligations, we may have to undertake alternative financing plans, such as refinancing or restructuring our indebtedness, selling
of assets, reducing or delaying capital investments or seeking to raise additional capital.
The adoption
of ASU 2014 - 09 had no impact to shareholders» net income, adjusted income
from operations or
cash flows, however the adoption resulted in certain reclassifications in the Consolidated and Global Health Care Segment income statements.
Ron Norris
of Automotive Caliper Exchange told us he started with and maintained positive
cash flow
from operations in spite
of rapid growth.
The metric
of «
cash flow
from operations as a percentage
of revenue» has been used for more than five years as a financial metric in HP's long - term incentive programs, and HP believes that it continues to be a key metric that both drives and demonstrates improved financial performance within the company.
The
cash Cisco spent on stock repurchases over the past five years amounted to 46 percent
of its
cash flow
from operations.
To date, we have financed our
operations primarily through private placements
of preferred stock and
cash flow
from operations.
The amounts ultimately paid on resolution
of an audit could be materially different
from the amounts previously included in the provision for indirect taxes, and therefore, the resolution
of one or more
of these uncertainties in any particular period could have a material impact on our financial position, results
of operations or
cash flows.
The announcement came as the company said it spent $ 656 million on capital expenditures in the first quarter, and its negative
cash flows
from its
operations reached nearly $ 400 million during the period, causing Tesla to burn through over $ 1 billion
of cash.
Apple's
cash flow statements show it has spent nearly $ 200 billion on stock repurchases over the past five years, which works out at 57 percent
of its
cash flow
from operations for the period.
Answer:
Cash flow
from operations; asset sales; plus outside sources
of investment capital.
Therefore, our results
of operations and
cash flows are minimally subject to fluctuations
from changes in foreign currency rates.
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially
from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact
of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign
operations, including risks related to recent political and economic developments in Venezuela and the impact
of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits
of its CORE program; BlackBerry's ability to maintain or increase its
cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry (R) World (TM); risks related to the collection, storage, transmission, use and disclosure
of confidential and personal information;
And so James and I had looked at it in many different ways, and we believe, as our target, that we'll be able to get to
cash flow neutral
from operations probably towards the end
of the coming fiscal year, FY15.
Therefore, while
cash generated
from operations is our primary source
of operating liquidity and we believe that internally generated
cash flows are sufficient to support day - to - day business
operations, we use a variety
of capital sources to fund our needs for less predictable investment decisions such as acquisitions.
Many factors could cause BlackBerry's actual results, performance or achievements to differ materially
from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact
of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign
operations, including risks related to recent political and economic developments in Venezuela and the impact
of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits
of its CORE program; BlackBerry's ability to maintain or increase its
cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure
of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers
of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising
from BlackBerry's practice
of providing forward - looking guidance; potential charges relating to the impairment
of intangible assets recorded on BlackBerry's balance sheet; risks as a result
of actions
of activist shareholders; government regulation
of wireless spectrum and radio frequencies; risks related to economic and geopolitical conditions; risks associated with acquisitions; foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.
We have audited the accompanying balance sheet
of The Crypto Company (the «Company») as
of June 7, 2017, and the related statements
of operations, changes in stockholders» equity, and
cash flows for the period
from March 9, 2017 («Inception») through June 7, 2017.
In fiscal 2012, we generated $ 762 million in
cash flow
from operations in what was a challenging economic environment, and we anticipate generating even stronger
cash flows
from operations in fiscal 2013, driven by the combination
of continuing same - restaurant sales growth, accelerating new unit growth and an improvement in our operating margins.
Net debt declined by $ 37.7 - million
from December 31, to $ 585.4 - million at the end
of the quarter, as a result
of cash flow
from Hudbay's
operations.
Meanwhile, MRC Global is using its
cash flow to pay down debt, with the company paying back $ 140.1 million
of debt last quarter after generating $ 209.3 million in
cash from operations.
The actual level
of the
cash rate, which results
from the Reserve Bank's market
operations, as well as the target rate are shown in Graph 3.
* Change in operating
cash flow is replaced with: (i) tangible book value per share growth for companies in the Banks, Diversified Financials and Insurance sectors; and (ii) growth in funds
from operations for REITs, with the exception
of Mortgage and Specialized REITs.
During the first quarter, for example, the company generated 1.3 billion Canadian dollars ($ 1 billion)
of cash flow
from operations, which was up
from just CA$ 373 million ($ 288 million) in the year - ago period.
As with our pay - for - performance model, operating
cash flow is replaced with: (i) tangible book value for companies in the Banks, Diversified Financials and Insurance sectors; and (ii) funds
from operations for REITs, with the exception
of Mortgage and Specialized REITs.
Cash Flow From Operations (CFO) is the cash inflows and outflows of a company's core business operati
Cash Flow
From Operations (CFO) is the
cash inflows and outflows of a company's core business operati
cash inflows and outflows
of a company's core business
operations.
Indeed, these deals were special for all involved: (a) Levy enjoyed Madoff's inflated return rates
of up to 40 % on the money he invested with Madoff; (b) Madoff enjoyed the benefits
of large amounts
of cash to perpetuate his fraud without being subject to JPMC's due diligence processes; and (c) JPMC earned fees on the loan amounts and watched the «special deals»
from afar, escaping responsibility for any due diligence on Madoff's
operation.»
This saw the
cash rate move above its target
of 5 per cent for a time, and the yield on Treasury Notes, which are eligible for purchase by the Reserve Bank in the course
of its market
operations, move to 50 basis points below that for bank bills (
from normally about 10 basis points below).
For starters, the variations between earnings and
cash flow not only arise in working capital changes over time (their influence on a firm's
cash flow
from operations), but also in the timing
of the cost
of replacing those assets that generate earnings (capital expenditures versus depreciation).
Barrick said it does not intend to sell any further assets for purposes
of debt reduction, and will use
cash on hand and
cash flow
from operations for future debt repayments.
Assembling profits, slowly Using the same ranges as a proxy for
cash contribution, it seems possible a $ 1.12 billion box office performance by The Avengers would account for somewhere between $ 250 million and $ 340 million in
cash from operations during the current fiscal year and much more than that in succeeding years thanks to Blu - ray, DVD, and digital sales via the likes
of Apple's (Nasdaq: AAPL) iTunes, which already sells digital DVD equivalents packed with bonus features.
The sale
of the EU sugar
operations is intended to achieve in a more focused, less volatile business, and a solid platform to deliver sustainable long - term growth in Tate & Lyle's speciality food ingredients business, supported by
cash generated
from its bulk ingredients activities.
Successfully exited
from unprofitable
operations in Brazil and completed the sale
of its Healthy Natural contract manufacturing business for $ 18.3 million in
cash to focus on proprietary ingredient business.
As for their salaries, the «
operation of the program» is funded through (a) federal reimbursement, which is derived
from taxpayer dollars and (b)
cash payments
from district parents who can afford to pay for all or a portion
of their children's meals.
Cash flows
from operations were strong, driven by our cost savings programmes but lower prices and a higher tax rate led to a reduction in underlying earnings to $ 4.2 billion in the first half
of 2013.