Dealing with Operating Leases in Valuation Aswath Damodaran Stern School of Business 44 West Fourth Street New York‚ NY 10012 adamodar@stern.nyu.edu Abstract Most firm valuation models start with the after-tax operating income as a measure of the operating income on a firm and reduce it by the reinvestment rate to arrive at the free cash flow to the firm. Implicitly‚ we assume that the operating expenses do not include any financing expenses (such as interest expense on debt). While this assumption
Premium Expense Generally Accepted Accounting Principles Depreciation
Southwest Airlines. Southwest leases some of its planes. Suppose the leases can be structured either as operating leases or as capital leases. Which type of lease would you prefer for Southwest? Why? Consider what would happen to Southwest s debt ratio if its operating leases in footnote 8 were capitalized‚ and the related liabilities recognized. Computing Southwests debt ratio two ways (operating leases versus reclassifying them as capital leases) will make your decision clear (using Southwest s actual
Premium Pension Retirement Asset
The Benihana simulation allows you to become the ultimate decision maker with many of the large aspects of the restaurant. The simulation forces you to think about the size of the bar and seating area‚ whether or not you will batch the patrons‚ how quickly you would like to get your patrons in and out of the restaurant‚ how much money you should spend on advertising and how to spend that money. I think this simulation was a great way to help one focus on how to optimize the factors involved in
Premium Time Term Revenue
Behihana of Tokyo‚ Inc. v. Benihana‚ Inc.‚ 906 A.2d 114 (Del. 2006) Facts: Rocky Aoki founded Benihana of Tokyo‚ Inc. (BOT)‚ and its subsidiary‚ Benihana‚ which own and operate Benihana restaurants in the United States and other countries. Aoki transferred his 100% ownership of BOT to Benihana Protective Trust in 1998 in order to avoid licensing problems stemming from his conviction on insider trading charges. Benihana‚ a Delaware corporation‚ had two classes of common stock. There were 6 million
Premium Stock Corporation Fiduciary
Authors Prof. Harsh Bhor (K.J.S.I.E.I.T SION MUMBAI) Prof. Uday Rote (K.J.S.I.E.I.T SION MUMBAI) Prof. Umesh Shinde (K.J.S.I.E.I.T SION MUMBAI) Operating System CHAPTER 1 CHAPTER 2 CHAPTER 3 CHAPTER 4 CHAPTER 5 CHAPTER 6 CHAPTER 7 CHAPTER 8 CHAPTER 9 CHAPTER 10 CHAPTER 11 CHAPTER 12 CHAPTER 13 CHAPTER 14 CHAPTER 15 SYSTEM SOFTWARE FUNDAMENTAL OF OPERATING SYSTEM PROCESS MANAGEMENT THREAD MANAGEMENT CONCURRENCY CONTROL DEADLOCK MEMORY MANAGEMENT VIRTUAL MEMORY I/O HARDWARE I/O SOFTWARE SECONDARY STORADE
Premium Operating system Computer program Central processing unit
OPERATING ROOM OBSERVATION. Patient: J.D. Age: 39 year-old. Gender: Female. Marital status: Married. Chief complaint: Left tendoachilles pain for 5 years. Patient rates pain to 10/10. Patient said she had a Platelet-Rich Plasma (PRP) injection 2 years ago as a treatment intervention for this condition and had some relief but over time‚ the pain came back and got worse. Name of surgical procedure: Endoscopic Gastrocnemius Recession. Surgery: Left leg Gastrocnemius Recession. This procedure
Premium Anesthesia Surgery
TWC: Operating Systems and Software Applications University of Phoenix BIS/320 January 14‚ 2013 Dr. Kathryn J. Moland‚ PMP TWC: Operating Systems and Software Applications Time Warner Cable (TWC) is one of the nation’s largest cable companies and being such has a large network of hardware and software at its disposal. According to "Time Warner Cable" (2013)‚ its mission statement is to connect people and businesses with information‚ entertainment‚ and to give customers controls that are
Free Operating system Microsoft Application software
Software Systems CA History and development of Operating Systems Table of contents Page 1 : Contents Page 2 : Introduction Page 2-3 : History of Operating Systems Page 3 : Timesharing and Multiprogramming 1960s Page 4 : The personal computer era Page 4-5 : The Significant types of Operating Systems Page 5-6 : The Functions of Operating Systems Page 7 : Why OS is so critical Page 7 : Conclusion Page 8 : Bibliography Introduction "Operating Systems have earned the reputation for being the
Premium Operating system
MIT ICAT Operating Costs and Productivity Measures Dr. Peter P. Belobaba 16.75J/1.234J Airline Management February 15‚ 2006 MIT ICAT DOT Form 41 • Form 41 contains traffic‚ financial‚ and operating cost data reported to the DOT by US Major airlines – Data is reported and published quarterly for most tables – Detail of reporting differs for different expense categories • Aircraft operating expenses by aircraft type and region of operation • Other expenses more difficult to allocate
Premium Expense Operating expense Airline
| Certificate | Subject: | Information Technology | Unit number + Title | 2. Computer Systems | Assignment number + Title: | 1. Decoding the Jargon | Assessment Criteria: | P1 P2 M1 | Purpose / Aims (learning outcomes) | LO1 Understand the components of computer systemsP1 Explain the function of computer hardware componentsP2 Explain the purpose of operating systemsM1 Compare the features and functions of different operating systems | Introduction (Scenario)
Premium Operating system