Posts by: WST Expert 1
Re: Goodwill and Minority Interest for less than 100%
Who owns the remaining 20%? Is it still publicly traded? Assuming that Co. B is a subsidiary of Co. A, then Minority Interest is generally calculated as 20% (the percentage A does NOT own of B) of Co. B's book value. You would show 100% of the Goodwill created (since you have to consolidate everythi... Read More
Who owns the remaining 20%? Is it still publicly traded? Assuming that Co. B is a subsidiary of Co. A, then Minority Interest is generally calculated as 20% (the percentage A does NOT own of B) of Co. B's book value. You would show 100% of the Goodwill created (since you have to consolidate everythi... Read More
RE: How do I shade every 3rd row instead of alternate rows?
Fairly straight forward - the trick to all of this is simply figuring out the mathematical equation. Instead of this formula as instructed in class: =ROW()-EVEN(ROW()) Try this formula instead =MOD(ROW(),3)=0 MOD provides the remainder of a division equation and you are looking for every ... Read More
Fairly straight forward - the trick to all of this is simply figuring out the mathematical equation. Instead of this formula as instructed in class: =ROW()-EVEN(ROW()) Try this formula instead =MOD(ROW(),3)=0 MOD provides the remainder of a division equation and you are looking for every ... Read More
RE: AFM Core Model: Current Portion of LT Debt
Correct, the way you would adjust in the model is to remove CP changes from mandatory payments in row 11 or better yet, when calculating current portion of LTD, you would exclude CP and in changes to Debt, you would add a new CP change just like revolver. Keep in mind, we decided to treat CP like an... Read More
Correct, the way you would adjust in the model is to remove CP changes from mandatory payments in row 11 or better yet, when calculating current portion of LTD, you would exclude CP and in changes to Debt, you would add a new CP change just like revolver. Keep in mind, we decided to treat CP like an... Read More
Re: Why use average (industry) beta?
Our suggestion is to build three DCF's: 1) standalone ACQUIROR DCF as is 2) standalone DCF of the TARGET company WITHOUT synergies 3) then, as you mentioned, do a DCF of the COMBINED company WITH synergies For each, you would use an applicable WACC. 1) ACQUIROR standalone WACC 2) TARGET standalone... Read More
Our suggestion is to build three DCF's: 1) standalone ACQUIROR DCF as is 2) standalone DCF of the TARGET company WITHOUT synergies 3) then, as you mentioned, do a DCF of the COMBINED company WITH synergies For each, you would use an applicable WACC. 1) ACQUIROR standalone WACC 2) TARGET standalone... Read More
Re: Total debt when calculating enterprise value
If short-term obligations is short term debt (notes payable, commercial paper, etc), then yes, part of debt.
you need to check the footnote for the components.
for other liabilities, almost definitely not included as debt.
If short-term obligations is short term debt (notes payable, commercial paper, etc), then yes, part of debt.
you need to check the footnote for the components.
for other liabilities, almost definitely not included as debt.
Re: Historical Cash Flow statement
NEVER use historical BS and IS for historical CF statement creation. You MUST input directly from actual figures. If you look at most CF statements, i.e. Inventory changes in Working Capital section, you'll see that the CF number rarely matches the change in corresponding periods on the BS. This is ... Read More
NEVER use historical BS and IS for historical CF statement creation. You MUST input directly from actual figures. If you look at most CF statements, i.e. Inventory changes in Working Capital section, you'll see that the CF number rarely matches the change in corresponding periods on the BS. This is ... Read More
RE: What is the keyboard command for the right mouse click?
To right click, you can click on the right context menu button which usually is next to the right ALT key on a standard keyboard. It has a drop down menu with an arrow on it. Many laptops also have this key but may not be next to the right ALT key all the time. (IBM Thinkpads don't have this key). ... Read More
To right click, you can click on the right context menu button which usually is next to the right ALT key on a standard keyboard. It has a drop down menu with an arrow on it. Many laptops also have this key but may not be next to the right ALT key all the time. (IBM Thinkpads don't have this key). ... Read More
Re: Goodwill and Minority Interest for less than 100%
To be honest, we aren't sure. If you are only buying 80% - who owns the other 20%? If another investor is coming in, then there is 100% GW adjustment b/c the entire company is being bought. We are still questioning why there is Minority Interest created to begin with if this is an LBO. If this is ... Read More
To be honest, we aren't sure. If you are only buying 80% - who owns the other 20%? If another investor is coming in, then there is 100% GW adjustment b/c the entire company is being bought. We are still questioning why there is Minority Interest created to begin with if this is an LBO. If this is ... Read More
Re: Financial Modeling - Enchancements Part 2
If there is an existing NOL, it would most definitely be disclosed in the tax footnotes of the 10K filing! If no mention, you can assume zero.
If there is an existing NOL, it would most definitely be disclosed in the tax footnotes of the 10K filing! If no mention, you can assume zero.
Install our free macros add-in in our FREE RESOURCES section. Under WST => Borders menu, Ctrl + Shift + A, but you must have pre-formatted the cell using our custom formatting first!