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Unformatted text preview: 2005 Add back: Operating lease payments for 2005 = $1,092m# Less: Interest (based on 2004 lease capitalised* x 11.59%*) = $6,385.65 x 11.59% =$740m Amortisation expense* $6,385.65/25 =$255.43m Cash flow effects (if interest treated as cash flow from operations) CFO add back $1,092# subtract $740 m (net adjustment = $352m) CFF subtract principal payment $352m # if available, the actual payment in 2005 disclosed in income statement. Otherwise obtain it from footnotes disclosure for income statement...
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- Three '11