Best way to set grey background for Mac
Hi, I'm using Microsoft Office 2011 in Mac to build a DCF model with WST template. However, the figures in previous years (fonts in white) cannot be shown properly because of the default white background. What is the best way to set grey background in spreadsheet with Mac? Thanks. Best Reg... Hi,

I'm using Microsoft Office 2011 in Mac to build a DCF model with WST template. However, the figures in previous years (fonts in white) cannot be shown properly because of the default white background. What is the best way to set grey background in spreadsheet with Mac? Thanks.

Best Regards,
Ryan Read More

AFM Core Model: Forecasting Minority Interest
How would you forecast Minority Interest for a projected period on the Income Statement (Well also the balance sheet but that's another question) for, say, 5 years? The problem is, of the consolidated subisidiaries, there are no financial statements for the subisiary operating companies (nor any ... How would you forecast Minority Interest for a projected period on the Income Statement (Well also the balance sheet but that's another question) for, say, 5 years?

The problem is, of the consolidated subisidiaries, there are no financial statements for the subisiary operating companies (nor any breakdowns of the assets and liabilities) You are only given segment break downs for revenues, EBITDA, SG&A, COGs, Other Op-ex.

My initial guess was to forecast out each segment. After forecasting each segment, you would take the % of each segment's earnings (i.e. Revs-COGS-SG&A-Other) that are NOT owned by the parent and take that as the charge on the income statement (or an add back if the segments are reporting a loss). Am I on the right track? Read More

Re: Historical Cash Flow statement
Thanks.

So if i wanted to rearrange/reclassify the historical CF statement to better reflect what I would consider CFO for example, as some companies might not classify some line items correctly, you suggest just plugging in the numbers from the CF statement and aggregate accordingly?

Debt Extinguishment - Equity offered
In addition to the 2010 debt extinguishment, approximately $225.8 million aggregate principal amount of the 11% Senior Subordinated Notes held by certain affiliates of the Company’s controlling stockholder were transferred to the Company’s indirect stockholders and ultimately to XYZ Holdings, th... In addition to the 2010 debt extinguishment, approximately $225.8 million aggregate principal amount of the 11% Senior Subordinated Notes held by certain affiliates of the Company’s controlling stockholder were transferred
to the Company’s indirect stockholders and ultimately to XYZ Holdings, the Company’s indirect parent company. Such notes were then transferred to XYZ Holdings and then to XYZ Industries as a capital contribution and cancelled on February 12, 2010.

Here is a sample 10-K text. How do I handle this $225.8 MM in the core model IS, BS and CFS? It is non-cash as the shareholder owning the debt was simply issued stock in exchange for these bonds. So this should just be a increase in APIC with a corresponding decrease in debt to offset correct? There would be no entry on the CFS correct? Read More

Re: Goodwill and Minority Interest for less than 100%
So maybe I'm a bit confused here. As per I could understand, we don't have LBO deals buying less than 100%, is that right? Because I assume that when we have it (less than 100%), what actually happens is that the remaining portion that the primary PE sponsor didn't buy out is either bought out by ot... So maybe I'm a bit confused here. As per I could understand, we don't have LBO deals buying less than 100%, is that right? Because I assume that when we have it (less than 100%), what actually happens is that the remaining portion that the primary PE sponsor didn't buy out is either bought out by other PE fund(s) or is roll-over equity, right?

If it is right, then I would agree with you that LBO does not create minority interest, and does not create 'partial' goodwill as well, because at the end of the day the entire company (100%) is being bought out, but with various equity sources.

Now, if this is a merger, my question is still open: don't you guys think that calculating the post-transaction GW for a 80% acquisition with the tangible book value would creat a difference in the model? So, in this case, can I calculate the transaction GW ONLY and them sum it to any existing GW on target's BS when consolidating? Are you guys sure that we are oblied to/must blow out the target's existing GW? Which FASB pronouncement says that? Read More