Posts by: WST Expert 1
Re: WST Macro
As silly as it sounds, this could be the case of one of your keys on your keyboard being stuck / sticky? Can you try each combination of keys separately: i.e. Ctrl+B to make sure it bolds Shift+B to make sure you get a capital B ALT + any key on the menu/ribbon Then do a Ctrl+Shift+B for our blue m... Read More
As silly as it sounds, this could be the case of one of your keys on your keyboard being stuck / sticky? Can you try each combination of keys separately: i.e. Ctrl+B to make sure it bolds Shift+B to make sure you get a capital B ALT + any key on the menu/ribbon Then do a Ctrl+Shift+B for our blue m... Read More
RE: Merger Modeling Basics: Synergies and Cash PE question
The ability to pay analysis is an extremely quick and dirty analysis that analyzes the maximum purchase price an acquiror can pay based on the funding cost of debt (as cash consideration). As a result, it works regardless of who the acquiror is since there is no stock component to the analysis. Syne... Read More
The ability to pay analysis is an extremely quick and dirty analysis that analyzes the maximum purchase price an acquiror can pay based on the funding cost of debt (as cash consideration). As a result, it works regardless of who the acquiror is since there is no stock component to the analysis. Syne... Read More
Re: Questions about total debt & preferred stock
Yes correct.
Yes correct.
RE: Merger Modeling Basics: Amortization
As this is a quick and dirty analysis, goodwill amortization (usually zero) and any tax deducts (i.e. 338(h)(10) elections) are based on purchase price of equity and as such are not included in this short analysis. Don't think too much into this analysis - the concepts are discussed in the M&A ... Read More
As this is a quick and dirty analysis, goodwill amortization (usually zero) and any tax deducts (i.e. 338(h)(10) elections) are based on purchase price of equity and as such are not included in this short analysis. Don't think too much into this analysis - the concepts are discussed in the M&A ... Read More
Re: Adv Merger Model
Similar to the Complex LBO model, we are calculating Post-Transaction Goodwill. As such, in allocating purchase price, we allocate the purchase price first to book value (hence minus Target Equity from BS) and then allocate to other items, finally with Goodwill as the final excess amount. If need be... Read More
Similar to the Complex LBO model, we are calculating Post-Transaction Goodwill. As such, in allocating purchase price, we allocate the purchase price first to book value (hence minus Target Equity from BS) and then allocate to other items, finally with Goodwill as the final excess amount. If need be... Read More
Re: Complex trading comps - Sears Holdings
This is considered a one-time item that is non-recurring. Please see the Sears video in Complex Trading Comps course for full explanation.
This is considered a one-time item that is non-recurring. Please see the Sears video in Complex Trading Comps course for full explanation.
Re: Insurance financial modeling
To those of you who have read the last three posts above, please allow us to clarify since the original row numbers referenced in the posts were not matching the completed file from the videos. Row 37 is actually row 35. Row 40 is actually row 38. That is, in our response, it should read: add one ro... Read More
To those of you who have read the last three posts above, please allow us to clarify since the original row numbers referenced in the posts were not matching the completed file from the videos. Row 37 is actually row 35. Row 40 is actually row 38. That is, in our response, it should read: add one ro... Read More
Re: Question about total Capex
Yes, correct. CapEx is usually purchases of PPE. Normally sales of PPE assets would be split in another line item of the CF statement, called Disposal (or Sale) or assets. The actual accounting can get trickier since when you sell PPE, the GROSS amount carried on the books and the accumulated dep... Read More
Yes, correct. CapEx is usually purchases of PPE. Normally sales of PPE assets would be split in another line item of the CF statement, called Disposal (or Sale) or assets. The actual accounting can get trickier since when you sell PPE, the GROSS amount carried on the books and the accumulated dep... Read More
Re: Carve-out Accounting
If the Parent Company is selling greater than 50% control of the SUB, this is considered a change of control and thus the Parent no longer consolidates and instead, is now minority interest shareholder (assuming equity accounting in which Parent retains 20%-50% stake). If that is the case, there is ... Read More
If the Parent Company is selling greater than 50% control of the SUB, this is considered a change of control and thus the Parent no longer consolidates and instead, is now minority interest shareholder (assuming equity accounting in which Parent retains 20%-50% stake). If that is the case, there is ... Read More
Nope! Unfortunately, only one output cell at a time for a two variable table. You can get fancy with a self-referencing table, but I highly advise against that as it causes circs and is massive annoying to maintain. Good news about data table is that once set up, its easy.