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{"sheet":"Corporate Model","index":0,"n_rows":117,"n_cols":12,"rows_kept":117,"cut":false,"hidden":false,"merged":[]}
[]
["Period",null,null,null,2016,{"$f":"E2+1","v":2017},{"$f":"F2+1","v":2018},2019,2020,2021,2022,2023]
["Historic Switch",null,null,null,true,false,false,false,false,false,false,false]
[]
["Historic Balance"]
[null,"Assets"]
[null,null,"Cash Balance",null,150]
[null,null,"Gross Assets",null,1000]
[null,null,"Acccumulated Depreciation",null,450]
[null,null,"Net Plant",null,{"$f":"E8-E9","v":550}]
[null,null,null,"Total Assets",{"$f":"E10+E7","v":700}]
[]
[null,null,"Debt",null,400]
[null,null,"Equity",null,{"$f":"E11-E13","v":300}]
[null,null,null,"Total",{"$f":"SUM(E13:E14)","v":700}]
[]
["Operating Analysis and Assumptions"]
[null,"EBITDA",null,null,150,100,280,{"$f":"G18*1.03","v":288.40000000000003},297.05200000000002,305.96356000000003,315.14246680000002,324.59674080400004]
[null,"Cap Exp",null,null,80,400,200,80,80,80,80,80]
[]
["Depreciation"]
[null,"Historic Growth",null,null,9.2058045142561329E-2]
[null,"Life",null,null,7]
[]
[null,"Gross Plant - Existing Plant"]
[null,null,"Opening Balance",null,null,{"$f":"E28","v":1000},{"$f":"F28","v":891.99340280982312},774.04392941981848,645.23625808393547,504.57080432550549,350.95596387498313,183.19964150769917]
[null,null,"Less Retirement",null,98.901883165081458,{"$f":"E27*(1+$E$22)","v":108.00659719017686},{"$f":"F27*(1+$E$22)","v":117.94947339000461},128.80767133588301,140.66545375842995,153.61484045052239,167.75632236728396,183.19964146472148]
[null,null,"Closing Balance",null,{"$f":"IF(E3,E8,E26-E27)","v":1000},{"$f":"IF(F3,F8,F26-F27)","v":891.99340280982312},774.04392941981848,645.23625808393547,504.57080432550549,350.95596387498313,183.19964150769917,4.2977688963219407E-8]
[]
[null,null,"Depreciation",null,{"$f":"1/E23","v":0.14285714285714285},{"$f":"AVERAGE(F28,F26)*$E$30","v":135.14238591498736},{"$f":"AVERAGE(G28,G26)*$E$30","v":119.00266658783154},101.37715625026813,82.129075886388634,61.109054871463471,38.153971813048734,13.085688682191204]
[]
[null,"Accumulated Depreciation"]
[null,null,"Opening Balance",null,null,{"$f":"E36","v":450},{"$f":"F36","v":477.13578872481048},478.18898192263737,450.75846683702252,392.22208896498114,299.71630338592217,170.11395283168693]
[null,null,"Add: Depreciation",null,null,{"$f":"F30","v":135.14238591498736},{"$f":"G30","v":119.00266658783154},101.37715625026813,82.129075886388634,61.109054871463471,38.153971813048734,13.085688682191204]
[null,null,"Less: Retirements",null,null,{"$f":"F27","v":108.00659719017686},{"$f":"G27","v":117.94947339000461},128.80767133588301,140.66545375842995,153.61484045052239,167.75632236728396,183.19964146472148]
[null,null,"Closing Balance",null,{"$f":"IF(E3,E9,E33+E34-E35)","v":450},{"$f":"IF(F3,F9,F33+F34-F35)","v":477.13578872481048},478.18898192263737,450.75846683702252,392.22208896498114,299.71630338592217,170.11395283168693,4.9156653858517529E-8]
[]
[null,null,"Net Plant",null,{"$f":"E28-E36","v":550},{"$f":"F28-F36","v":414.85761408501264},{"$f":"G28-G36","v":295.85494749718112},194.47779124691294,112.34871536052435,51.239660489060952,13.085688676012239,-6.1789648952981224E-9]
[]
[null,"New Gross Plant"]
[null,null,"Opening Balance",null,null,{"$f":"E43","v":0},{"$f":"F43","v":400},600,680,760,840,920]
[null,null,"Add: Cap Exp",null,null,{"$f":"F19","v":400},{"$f":"G19","v":200},80,80,80,80,80]
[null,null,"Closing Balance",null,null,{"$f":"SUM(F41:F42)","v":400},{"$f":"SUM(G41:G42)","v":600},680,760,840,920,1000]
[]
[null,null,"Depreciation Expense",null,{"$f":"E30","v":0.14285714285714285},{"$f":"AVERAGE(F43,F41)*$E$45","v":28.571428571428569},{"$f":"AVERAGE(G43,G41)*$E$45","v":71.428571428571431},91.428571428571416,102.85714285714285,114.28571428571428,125.71428571428571,137.14285714285714]
[]
[null,null,"Accumulated Depreciation",null,null,{"$f":"E47+F45","v":28.571428571428569},{"$f":"F47+G45","v":100},191.42857142857142,294.28571428571428,408.57142857142856,534.28571428571422,671.42857142857133]
[]
[null,null,"Total Net Plant",null,{"$f":"E38+E43-E47","v":550},{"$f":"F38+F43-F47","v":786.28618551358409},795.85494749718112,683.0492198183415,578.06300107481002,482.6682319176324,398.79997439029808,328.57142856524968]
[]
[]
["Financing"]
[null,"Cash Balance"]
[null,null,"Opening Balance",null,null,{"$f":"E57","v":150},{"$f":"F57","v":40},112,115.36000000000001,118.82080000000002,122.38542400000001,126.05698672000001]
[null,null,"Add: New Surplus Cash",null,null,{"$f":"F95","v":0},{"$f":"G95","v":0},0,0,0,0,117.48035358085036]
[null,null,"Less: Cash Use for Deficit",null,null,{"$f":"F92","v":110},{"$f":"G92","v":-72},-3.3600000000000136,-3.4608000000000061,-3.5646239999999949,-3.6715627199999972,-3.7817096016000136]
[null,null,"Closing Balance",null,{"$f":"IF(E3,E7,E54+E55)","v":150},{"$f":"IF(F3,F7,F54+F55-F56)","v":40},{"$f":"IF(G3,G7,G54+G55-G56)","v":112},115.36000000000001,118.82080000000002,122.38542400000001,126.05698672000001,247.31904990245039]
[null,null,"Interest Income",null,0.02]
[]
[null,null,"Minimum Cash Balance",null,0.4,{"$f":"$E$60*F18","v":40},{"$f":"$E$60*G18","v":112},115.36000000000001,118.82080000000002,122.38542400000001,126.05698672000001,129.83869632160003]
[null,null,"Minimum Test",null,null,{"$f":"F54-F60","v":110},{"$f":"G54-G60","v":-72},-3.3600000000000136,-3.4608000000000061,-3.5646239999999949,-3.6715627199999972,-3.7817096016000136]
[]
[null,"Debt Balance"]
[null,null,"Opening Balance",null,null,{"$f":"E67","v":400},{"$f":"F67","v":551.77171130815043},597.51296849830862,449.82953189100488,303.47780064488597,159.4201391505793,18.713760634178641]
[null,null,"Add: New Debt Issued",null,null,{"$f":"F96","v":151.77171130815043},{"$f":"G96","v":72},3.3600000000000136,3.4608000000000061,3.5646239999999807,3.6715627199999972,0]
[null,null,"Less: Debt Repaid",null,null,{"$f":"F93","v":0},{"$f":"G93","v":26.258742809841785},151.04343660730376,149.81253124611891,147.62228549430665,144.37794123640066,18.713760634178641]
[null,null,"Closing Debt Balance",null,{"$f":"IF(E3,E13,E64+E65-E66)","v":400},{"$f":"IF(F3,F13,F64+F65-F66)","v":551.77171130815043},{"$f":"IF(G3,G13,G64+G65-G66)","v":597.51296849830862},{"$f":"IF(H3,H13,H64+H65-H66)","v":449.82953189100488},{"$f":"IF(I3,I13,I64+I65-I66)","v":303.47780064488597},{"$f":"IF(J3,J13,J64+J65-J66)","v":159.4201391505793},{"$f":"IF(K3,K13,K64+K65-K66)","v":18.713760634178641},{"$f":"IF(L3,L13,L64+L65-L66)","v":0}]
[null,null,"Interest Expense",null,0.05]
[]
["Profit and Loss"]
[null,null,"EBITDA",null,null,{"$f":"F18","v":100},280,288.40000000000003,297.05200000000002,305.96356000000003,315.14246680000002,324.59674080400004]
[null,null,"Less: Depreciation",null,null,{"$f":"F45+F30","v":163.71381448641591},190.43123801640297,192.80572767883956,184.98621874353148,175.39476915717773,163.86825752733444,150.22854582504834]
[null,null,"EBIT",null,null,{"$f":"F71-F72","v":-63.713814486415913},{"$f":"G71-G72","v":89.568761983597028},95.594272321160474,112.06578125646854,130.5687908428223,151.27420927266559,174.36819497895169]
[null,null,"Less: Interest Expense",null,null,{"$f":"F68","v":0},{"$f":"G68","v":0},0,0,0,0,0]
[null,null,"Add: Interest Income",null,null,{"$f":"F58","v":0},{"$f":"G58","v":0},0,0,0,0,0]
[null,null,"EBT",null,null,{"$f":"F73-F74+F75","v":-63.713814486415913},{"$f":"G73-G74+G75","v":89.568761983597028},95.594272321160474,112.06578125646854,130.5687908428223,151.27420927266559,174.36819497895169]
[null,null,"Less: Taxes Paid",null,0.3,0,0,0,0,0,0,0]
[null,null,"Earnings",null,null,{"$f":"F76-F77","v":-63.713814486415913},89.568761983597028,95.594272321160474,112.06578125646854,130.5687908428223,151.27420927266559,174.36819497895169]
[]
["Cash Flow Statement"]
[null,null,"EBITDA",null,null,{"$f":"F71","v":100},280,288.40000000000003,297.05200000000002,305.96356000000003,315.14246680000002,324.59674080400004]
[null,null,"Less: Taxes Paid",null,null,{"$f":"F77","v":0},{"$f":"G77","v":0},0,0,0,0,0]
[null,null,"Less: WC Changes"]
[null,null,null,"Net Operating Cash Flow",null,{"$f":"F81-F82-F83","v":100},{"$f":"G81-G82-G83","v":280},288.40000000000003,297.05200000000002,305.96356000000003,315.14246680000002,324.59674080400004]
[null,null,"Less: Capital Expenditures",null,null,{"$f":"F19","v":400},200,80,80,80,80,80]
[null,null,null,"Cash Before Financing",null,{"$f":"F84-F85","v":-300},{"$f":"G84-G85","v":80},208.40000000000003,217.05200000000002,225.96356000000003,235.14246680000002,244.59674080400004]
[null,null,"Less: Interest Expense",null,null,{"$f":"F74","v":0},0,0,0,0,0,0]
[null,null,"Add: Income",null,null,0,0,0,0,0,0,0]
[null,null,"Less: Dividends",null,0.6,{"$f":"$E$89*F78","v":-38.228288691849549},{"$f":"$E$89*G78","v":53.741257190158215},57.35656339269628,67.239468753881127,78.341274505693377,90.764525563599349,104.62091698737102]
[null,null,"Add: Equity Issues/Buybacks"]
[null,null,"Net Cash Flow",null,null,{"$f":"F86-F87+F88-F89+F90","v":-261.77171130815043},{"$f":"G86-G87+G88-G89+G90","v":26.258742809841785},151.04343660730376,149.81253124611891,147.62228549430665,144.37794123640066,139.97582381662903]
[null,null,null,"Add: Cash Use if Negative",null,{"$f":"MIN(F61,MAX(-F91,0))","v":110},-72,-3.3600000000000136,-3.4608000000000061,-3.5646239999999949,-3.6715627199999972,-3.7817096016000136]
[null,null,null,"Less: Debt Repaid if Positive",null,{"$f":"MIN(MAX(F91,0),F64)","v":0},26.258742809841785,151.04343660730376,149.81253124611891,147.62228549430665,144.37794123640066,18.713760634178641]
[null,null,"Cash Flow Sub-total",null,null,{"$f":"F91+F92-F93","v":-151.77171130815043},{"$f":"G91+G92-G93","v":-72},-3.3600000000000136,-3.4608000000000061,-3.5646239999999807,-3.6715627199999972,117.48035358085036]
[null,null,null,"Surplus Cash",null,{"$f":"MAX(F94,0)","v":0},{"$f":"MAX(G94,0)","v":0},0,0,0,0,117.48035358085036]
[null,null,null,"Added Debt",null,{"$f":"MAX(-F94,0)","v":151.77171130815043},{"$f":"MAX(-G94,0)","v":72},3.3600000000000136,3.4608000000000061,3.5646239999999807,3.6715627199999972,0]
[]
[]
["Balance Sheet"]
[null,"Equity Balance"]
[null,null,"Opening Balance",null,null,{"$f":"E105","v":300},{"$f":"F105","v":274.51447420543366},310.34197899887249,348.57968792733669,393.40600042992412,445.63351676705304,506.14320047611932]
[null,null,"Add: Net Income",null,null,{"$f":"F78","v":-63.713814486415913},89.568761983597028,95.594272321160474,112.06578125646854,130.5687908428223,151.27420927266559,174.36819497895169]
[null,null,"Less: Dividends",null,null,{"$f":"F89","v":-38.228288691849549},53.741257190158215,57.35656339269628,67.239468753881127,78.341274505693377,90.764525563599349,104.62091698737102]
[null,null,"Add: Equity Issues",null,null,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,{"$f":"IF(E3,E14,E101+E102-E103+E104)","v":300},274.51447420543366,310.34197899887249,348.57968792733669,393.40600042992412,445.63351676705304,506.14320047611932,575.89047846769995]
[]
[null,"Assets"]
[null,null,"Cash Balance",null,{"$f":"E57","v":150},40,112,115.36000000000001,118.82080000000002,122.38542400000001,126.05698672000001,247.31904990245039]
[null,null,"Net Plant",null,{"$f":"E49","v":550},786.28618551358409,795.85494749718112,683.0492198183415,578.06300107481002,482.6682319176324,398.79997439029808,328.57142856524968]
[null,null,null,"Total",{"$f":"SUM(E108:E109)","v":700},{"$f":"SUM(F108:F109)","v":826.28618551358409},907.85494749718112,798.40921981834151,696.88380107480998,605.05365591763245,524.85696111029813,575.89047846770006]
[]
[null,null,"Debt",null,{"$f":"E67","v":400},551.77171130815043,597.51296849830862,449.82953189100488,303.47780064488597,159.4201391505793,18.713760634178641,0]
[null,null,"Equity",null,{"$f":"E105","v":300},{"$f":"F105","v":274.51447420543366},310.34197899887249,348.57968792733669,393.40600042992412,445.63351676705304,506.14320047611932,575.89047846769995]
[null,null,null,"Total",{"$f":"SUM(E112:E113)","v":700},{"$f":"SUM(F112:F113)","v":826.28618551358409},907.85494749718112,798.40921981834163,696.88380107481009,605.05365591763234,524.85696111029802,575.89047846769995]
[]
[null,null,"Difference",null,{"$f":"E114-E110","v":0},{"$f":"F114-F110","v":0},0,0,0,0,0,0]
[null,null,"Test",null,{"$f":"ROUND(E116,3)=0","v":true},{"$f":"ROUND(F116,3)=0","v":true},true,true,true,true,true,true]

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