Chapter 2 - Ball Corporation(NYSE BLL Chapter 2 Financial...

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05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 1 Chapter 2 Financial Statements, Taxes and Cash Flow Balance Sheet Income Statement Taxes Cash flow
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05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 2 Balance Sheet Current Assets Long Term (Fixed) Assets Current Liabilities Long Term Liabilities Equity/Net Worth Ball Corporation (NYSE: BLL)
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05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 3 Balance Sheet Net Working Capital Current assets less current liabilities Book Value of Equity Assets less liabilities Market Value of Equity Market price times shares outstanding
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05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 4 Income Statement Accrual versus Cash Accounting Revenue Expenses Depreciation Taxes Net Income EPS/DPS
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Unformatted text preview: Ball Corporation (NYSE: BLL) 05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 5 Taxes Progressive Tax System Marginal Tax Rate Average Tax Rate 05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 6 Cash flow Operating Cash Flow OCF = EBIT + Dep – Tax Capital Spending CapX = FA 1 – FA + Dep 05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 7 Cash flow Change in Net Working Capital ΔNWC = NWC 1 – NWC CF from Assets (Free Cash Flow) FCF = OCF – CapX – ΔNWC -or- FCF = CF to creditors + CF to SH 05/07/09 Chapter 2: Financial Statements, Taxes, and Cash Flow 8 Suggested Chapter-end Problems Chapter 2 Problems 1, 3, 5, 7, 9, 11, 13...
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