| | Historical Cash Flows |
| | In Millions |
| | Year | 2011 | 2012 | 2013 | 2014 |
| | Net Revenue | $230.42 | $353.63 | $513.40 | $653.65 |
| | Operating Margin | 67.83% | 34.11% | 36.37% | 44.54% |
| | EBIT | $156.30 | $120.63 | $186.73 | $291.12 |
| | Taxes |
| | Provision for Taxes | $2.97 | -$4.34 | -$19.89 | -$5.44 |
| | Earnings (Loss) before taxes | $32.45 | $43.28 | $64.01 | $17.39 |
| | Tax Rate | -9.17% | 10.02% | 31.07% | 31.29% |
| | Implied Taxes | -$14.33 | $12.09 | $58.02 | $91.10 |
| | NOPAT | $170.62 | $108.53 | $128.71 | $200.02 |
| | Fixed Capital |
| | New Equipment/Property/Plant | -$2.87 | -$3.22 | -$6.97 | -$22.73 |
| | Acquisitions | -$92.68 | -$183.70 | -$162.32 | -$345.36 |
| | Depreciation and Amortization | $11.09 | $21.23 | $30.44 | $55.19 |
| | Change in Fixed Capital | -$84.45 | -$165.70 | -$138.85 | -$312.90 |
| | Working Capital |
| | Accounts Recievable | $51.20 | $79.87 | $132.12 | $168.44 |
| | Inventory | $25.28 | $41.82 | $75.15 | $96.65 |
| | Prepaids | $2.24 | $4.01 | $7.20 | $15.77 |
| | Accounts Payable | -$25.91 | -$32.10 | -$51.73 | -$64.38 |
| | Accruels | -$16.82 | -$24.79 | -$28.43 | -$44.22 |
| | Change in Working Capital | $35.99 | $68.82 | $134.31 | $172.26 |
| | Fixed + WC Inv. | -$48.46 | -$96.88 | -$4.53 | -$140.64 |
| | FCF | $122.16 | $11.65 | $124.18 | $59.38 |
hazem28
3d_sytems.xlsx
