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{"sheet":"Steps in Analysis","index":0,"n_rows":8,"n_cols":8,"rows_kept":8,"cut":false,"hidden":false,"merged":[]}
[]
[null,"1. Compile the financial statements",null,null,null,null,null,"Viedo"]
[null,"2. Define the capacity quantity",null,null,null,null,null,"How to copy and paste special with operations"]
[null,"3. Work through prices and quantity",null,null,null,null,null,"Graph key assumptions by using TRUE"]
[null,"4. Develop drivers of operating expense",null,null,null,null,null,"Forecasting Method"]
[null,null,null,null,null,null,null,"Conditional Formatting"]
[]
[null,null,null,null,null,null,null,"Working with existing depreciation"]

{"sheet":"Summary","index":1,"n_rows":17,"n_cols":4,"rows_kept":17,"cut":false,"hidden":false,"merged":[]}
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[]
[]
[]
["Custom Scenario Inputs"]
[{"$f":"'Scenario Analysis'!C41","v":"Planes Grounded"}]
[{"$f":"'Scenario Analysis'!C42","v":"Price Increase"}]
[{"$f":"'Scenario Analysis'!C43","v":"Other Revenues"},null,null,{"$f":"'Scenario Analysis'!$F$28","v":39000}]
[{"$f":"'Scenario Analysis'!C44","v":"Flight Expense per Hour"}]
[{"$f":"'Scenario Analysis'!C45","v":"Maint  per Hour"}]
[{"$f":"'Scenario Analysis'!C46","v":"Fuel Expense per Hour"}]
[{"$f":"'Scenario Analysis'!C47","v":"SG&A per Revenue"}]
[{"$f":"'Scenario Analysis'!C48","v":"Bad Debt Expense"},null,null,{"$f":"'Scenario Analysis'!K29","v":5.0000000000000001E-3}]
[{"$f":"'Scenario Analysis'!C49","v":"Cap Exp - Maintenance"}]
[{"$f":"'Scenario Analysis'!C50","v":"A/R to Revenues"},null,null,{"$f":"'Scenario Analysis'!M29","v":0.15}]
[{"$f":"'Scenario Analysis'!C51","v":"A/P to Expenses"},null,null,{"$f":"'Scenario Analysis'!N29","v":0.12}]
[{"$f":"'Scenario Analysis'!C52","v":"Interest Rate"},null,null,{"$f":"'Scenario Analysis'!O29","v":8.5000000000000006E-2}]

{"sheet":"Scenario Analysis","index":2,"n_rows":52,"n_cols":24,"rows_kept":52,"cut":false,"hidden":false,"merged":[]}
["Comparison",null,null,1,{"$f":"INDEX(C10:C13,D1)","v":"Company Case"},null,null,null,null,null,null,null,null,null,null,null,null,null,null,"col input",{"$f":"COLUMN(P12)","v":16}]
["Sensitivity",null,null,3,{"$f":"INDEX(C10:C13,D2)","v":"Low Case"},null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Row input",{"$f":"ROW(Q9)","v":9}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Start row",{"$f":"ROW(Q10)","v":10}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"End row",{"$f":"ROW(C25)","v":25}]
[null,null,null,null,"Code Number",null,18,null,null,null,null,null,null,null,null,null,null,null,null,"start col",{"$f":"COLUMN(Q10)","v":17}]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,"end col",{"$f":"COLUMN(X9)","v":24}]
[null,null,null,1,{"$f":"D7+1","v":2},{"$f":"E7+1","v":3},4,5,6,7,8,9,10,11,12,null,1998,{"$f":"Q7+1","v":1999},{"$f":"R7+1","v":2000},2001,2002,2003,2004,2005]
[null,null,null,"Planes Grounded","Price Increase","Other Revenues","Flight Expense per Hour","Maint  per Hour","Fuel Expense per Hour","SG&A per Revenue","Bad Debt Expense","Cap Exp - Maintenance","A/R to Revenues","A/P to Expenses","Interest Rate",null,{"$f":"'Financial Model'!$K$380 &\" \" &Q7","v":"Balance of New Debt 1998"},{"$f":"'Financial Model'!$K$380 &\" \" &R7","v":"Balance of New Debt 1999"},{"$f":"'Financial Model'!$K$380 &\" \" &S7","v":"Balance of New Debt 2000"},{"$f":"'Financial Model'!$K$380 &\" \" &T7","v":"Balance of New Debt 2001"},{"$f":"'Financial Model'!$K$380 &\" \" &U7","v":"Balance of New Debt 2002"},{"$f":"'Financial Model'!$K$380 &\" \" &V7","v":"Balance of New Debt 2003"},{"$f":"'Financial Model'!$K$380 &\" \" &W7","v":"Balance of New Debt 2004"},{"$f":"'Financial Model'!$K$380 &\" \" &X7","v":"Balance of New Debt 2005"}]
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[null,null,"Company Case",1,1,50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,1,1.5904964654233242,2.429958828444656,3.1578330957196559,3.6089621077374345,3.9921974396584337,false,false,false]
[null,null,"Base Case",2,2,48000,2,2,2,2,5.4999999999999997E-3,2,0.16,0.11,9.5000000000000001E-2,{"$f":"P10+1","v":2},0.80319123073088605,1.1704738641265908,1.4762571828704758,1.6142477338093904,1.804644947399382,false,false,false]
[null,null,"Low Case",3,3,45000,3,3,3,3,6.0000000000000001E-3,3,0.17,0.1,0.1,{"$f":"P11+1","v":3},0.19799288450077079,0.26452651383770415,1.7722764059971752E-2,0.16614790603573698,5.0662428548443703E-2,0.39146668568701304,0.64745020695327382,0.66411750705281003]
[null,null,"Worst Case",4,3,40000,4,4,4,4,6.1999999999999998E-3,4,0.18,0.09,0.11,4,-0.1490029687288365,-0.30896676536509005,-0.4595633658299369,-0.27953618773892097,-0.32335816342899437,-0.27788506534252633,-7.3824180316650084E-2,-2.1809016007829893E-2]
[null,1,{"$f":"TRANSPOSE(D8:O8)&\" \"&$E$2&\" \"&\" vs \"&E1","v":"Planes Grounded Low Case  vs Company Case"},{"$f":"IF(D$7=$B14,OFFSET(D$10,$D$2-1,0),OFFSET(D$10,$D$1-1,0))","v":3},1,50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,5,1.497190725336186,2.2710101686065327,2.9620349068829777,3.3918369422847072,3.7528095368994552,false,false,false]
[null,{"$f":"B14+1","v":2},"Price Increase Low Case  vs Company Case",1,3,50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,6,1.347409026982793,1.660100214634155,1.7191855264775933,1.9619851068867096,2.0767040921995363,false,false,false]
[null,{"$f":"B15+1","v":3},"Other Revenues Low Case  vs Company Case",1,1,45000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,7,1.5139678073710487,2.3245009397898504,3.0581696666607052,3.4991899594453622,3.8705157651407007,false,false,false]
[null,4,"Flight Expense per Hour Low Case  vs Company Case",1,1,50000,3,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,8,1.2720644112652437,1.9322448152503076,2.6387706993091822,3.1121881811322529,3.4834243065353392,false,false,false]
[null,5,"Maint  per Hour Low Case  vs Company Case",1,1,50000,1,3,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,9,1.1128483841862045,1.8204647065067989,2.2858075503751003,2.8141238251691445,3.1781604266614818,false,false,false]
[null,6,"Fuel Expense per Hour Low Case  vs Company Case",1,1,50000,1,1,3,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,10,1.5904964654233242,2.429958828444656,3.1578330957196559,3.6089621077374345,3.9921974396584337,false,false,false]
[null,7,"SG&A per Revenue Low Case  vs Company Case",1,1,50000,1,1,1,3,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,11,1.5552892415785193,2.3505845001137189,3.0323723517216483,3.477008939101748,3.8536785299033411,false,false,false]
[null,8,"Bad Debt Expense Low Case  vs Company Case",1,1,50000,1,1,1,1,6.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2,12,1.5833364154976934,2.419966596285311,3.148891987370384,3.5995583090653955,3.9823257256778199,false,false,false]
[null,9,"Cap Exp - Maintenance Low Case  vs Company Case",1,1,50000,1,1,1,1,5.0000000000000001E-3,3,0.15,0.12,9.5000000000000001E-2,13,1.3699766746466218,2.1367042119139423,2.8776774536963097,3.4072814354685272,3.553841275274872,false,false,false]
[null,10,"A/R to Revenues Low Case  vs Company Case",1,1,50000,1,1,1,1,5.0000000000000001E-3,1,0.17,0.12,9.5000000000000001E-2,14,1.5696800497843801,2.3877621178015649,3.1578330957196559,3.6089621077374345,3.9921974396584337,false,false,false]
[null,11,"A/P to Expenses Low Case  vs Company Case",1,1,50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.1,9.5000000000000001E-2,15,1.5904964654233242,2.429958828444656,3.1578330957196559,3.6089621077374345,3.9921974396584337,false,false,false]
[null,12,"Interest Rate Low Case  vs Company Case",1,1,50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,0.1,16,1.5558930848846177,2.3788278917841836,3.1213965599998139,3.5788874235062895,3.9740510876599862,false,false,false]
[null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,17,false,false,false,false,false,false,false,false]
[null,null,"Custom Scenario",{"$f":"D34*D31","v":1},{"$f":"E34*E31","v":2},{"$f":"F34*F31","v":39000},1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,8.5000000000000006E-2,18,127994.51078836032,128358.4935852536,111567.60094326379,73417.494064429047,33447.729038388054,0,0,0]
[null,null,null,null,null,{"$f":"F34*F31","v":39000},null,null,null,null,{"$f":"K34*K31","v":5.0000000000000001E-3},null,{"$f":"M34*M31","v":0.15},{"$f":"N34*N31","v":0.12},{"$f":"O34*O31","v":8.5000000000000006E-2},19,false,false,false,false,false,false,false,false]
[null,null,{"$f":"INDEX(C10:C28,$G$5)","v":"Custom Scenario"},{"$f":"INDEX(D10:D28,$G$5)","v":1},2,39000,1,1,2,1,5.0000000000000001E-3,1,0.15,0.12,8.5000000000000006E-2,20,false,false,false,false,false,false,false,false]
[]
[null,null,"Multiplier",1,1,1000,1,1,1,1,1E-4,1,1E-3,1E-3,1E-3]
[null,null,"Copied Case",{"$f":"D10","v":1},{"$f":"E10","v":1},50000,1,1,1,1,5.0000000000000001E-3,1,0.15,0.12,9.5000000000000001E-2]
[null,null,"Adjusted",{"$f":"D32","v":1},{"$f":"E32","v":1},{"$f":"F32/F31","v":50},{"$f":"G32","v":1},{"$f":"H32","v":1},1,1,{"$f":"K32/K31","v":50},2,{"$f":"M32/M31","v":150},{"$f":"N32/N31","v":120},{"$f":"O32/O31","v":95}]
[null,null,"Fixed ",1,2,39,1,1,1,1,50,1,150,120,85]
[]
[]
[]
[]
[]
[null,null,null,{"$f":"E1&\" vs \"&E2","v":"Company Case vs Low Case"}]
[null,null,{"$f":"TRANSPOSE(D8:O8)","v":"Planes Grounded"},{"$f":"AVERAGE(Q14:X14)-AVERAGE(OFFSET($Q$9,$D$1,0,1,8))","v":-0.1809131313947292}]
[null,null,"Price Increase",{"$f":"AVERAGE(Q15:X15)-AVERAGE(OFFSET($Q$9,$D$1,0,1,8))","v":-1.2028127939605437}]
[null,null,"Other Revenues",-0.10262075971516804]
[null,null,"Flight Expense per Hour",-0.46815110469823606]
[null,null,"Maint  per Hour",-0.71360860881695531]
[null,null,"Fuel Expense per Hour",0]
[null,null,"SG&A per Revenue",-0.10210287491290604]
[null,null,"Bad Debt Expense",-9.0737806173804003E-3]
[null,null,"Cap Exp - Maintenance",-0.28679337719664666]
[null,null,"A/R to Revenues",-1.2602625256407318E-2]
[null,null,"A/P to Expenses",0]
[null,null,"Interest Rate",-3.4078377829723117E-2]

{"sheet":"Assumptions","index":3,"n_rows":274,"n_cols":27,"rows_kept":274,"cut":false,"hidden":false,"merged":[]}
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[null,null,null,null,"Method","Last Value","Average","Input","Value Applied","Graph","Graph No","Index Code",true,true,true,true,true,true,false,false,false,false,false,false,false,false,false]
[null,"Capacity ",null,null,null,null,null,null,null,null,0]
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[null,null,"Capacity per 747",null,null,null,null,null,null,null,{"$f":"K6+J7","v":0},null,null,null,null,null,null,{"$f":"S7","v":229000},{"$f":"'Airline Fleet'!K9","v":229000},{"$f":"S7","v":229000},{"$f":"T7","v":229000},229000,229000,229000,229000,229000,229000]
[null,null,"Planes Grounded",null,null,null,null,null,null,null,0]
[null,null,null,"Company Base",null,null,null,null,null,null,0,null,null,null,null,null,null,4,4,1,0,0,0,0,0,0,0]
[null,null,null,"Base Case",null,null,null,null,null,null,0,null,null,null,null,null,null,4,4,2,1,1,1,1,1,1,1]
[null,null,null,"Downside Case",null,null,null,null,null,null,0,null,null,null,null,null,null,4,4,3,2,2,2,2,2,2,2]
[null,null,null,"Worst Case",null,null,null,null,null,null,0,null,null,null,null,null,null,6,6,6,6,6,6,6,6,6,6]
[null,null,null,{"$f":"INDEX(D9:D12,$L$13)","v":"Company Base"},null,null,null,null,null,null,0,{"$f":"'Scenario Analysis'!D29","v":1},null,null,null,null,null,{"$f":"INDEX(R9:R12,$L$13)","v":4},4,1,0,0,0,0,0,0,0]
[null,null,null,"Capacity Not Operable",null,null,null,null,null,null,0,null,null,null,null,null,null,{"$f":"R13*R7","v":916000},916000,229000,0,0,0,0,0,0,0]
[null,null,null,"Capacity Before Retirements",null,null,null,null,null,null,0,null,null,null,null,null,null,{"$f":"R6-R14","v":5222986.666666667},5222986.666666667,5909986.666666667,6138986.666666667,6138986.666666667,6138986.666666667,6138986.666666667,6138986.666666667,6138986.666666667,6138986.666666667]
[null,null,null,"Retirement Rate",null,null,null,null,null,null,0,null,null,null,null,null,null,null,null,{"$f":"Depreciation!F13","v":3.3311710750748923E-2},{"$f":"Depreciation!G13","v":3.6642881825823821E-2},{"$f":"Depreciation!H13","v":4.030717000840621E-2},{"$f":"Depreciation!I13","v":4.4337887009246832E-2},{"$f":"Depreciation!J13","v":4.8771675710171519E-2},{"$f":"Depreciation!K13","v":5.3648843281188678E-2},{"$f":"Depreciation!L13","v":5.9013727609307551E-2},{"$f":"Depreciation!M13","v":6.4915100370238316E-2}]
[null,null,null,"Retirements ",null,null,null,null,null,null,0,null,null,null,null,null,null,{"$f":"R8-R16","v":0},{"$f":"S15*S16","v":0},{"$f":"T15*T16+S17","v":196871.76638078279},{"$f":"U15*U16+T17","v":421821.92933775752},669267.10859042988,941456.80576836946,1240865.4726641029,1570215.0062494099,1932499.4931932474,2331012.4288314688]
[null,null,null,"Net Capacity",null,null,null,null,null,true,1,null,null,null,null,null,null,{"$f":"R15-R17","v":5222986.666666667},{"$f":"S15-S17","v":5222986.666666667},{"$f":"T15-T17","v":5713114.9002858838},5717164.7373289093,5469719.5580762373,5197529.8608982973,4898121.1940025641,4568771.6604172569,4206487.1734734196,3807974.2378351982]
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[null,null,"Flight Hours",null,null,null,null,null,null,true,2,null,{"$f":"'Financial Model'!I106","v":39404},{"$f":"'Financial Model'!J106","v":55220},{"$f":"'Financial Model'!K106","v":76346},{"$f":"'Financial Model'!L106","v":84058},{"$f":"'Financial Model'!M106","v":91690},{"$f":"'Financial Model'!N106","v":70721},{"$f":"R20/R$2*S$2","v":28288.399999999998},{"$f":"(R20+S20)*T$18/S$18","v":108300.50208980656},{"$f":"T20*U18/T18","v":108377.27271192719},{"$f":"U20*V18/U18","v":103686.58512372104},98526.828776694267,92851.096794964833,86607.791615062451,79740.155917169832,72185.756649487957]
[null,null,"Planes",null,null,null,null,null,null,null,2,null,{"$f":"'Financial Model'!I105","v":59},{"$f":"'Financial Model'!J105","v":65},{"$f":"'Financial Model'!K105","v":86},{"$f":"'Financial Model'!L105","v":95},{"$f":"'Financial Model'!M105","v":97},{"$f":"'Financial Model'!N105","v":86},{"$f":"R21","v":86},{"$f":"S21","v":86},86,86,86,86,86,86,86]
[null,null,null,null,null,null,null,null,null,null,2]
[null,"Growth Rate",null,null,0.25,null,null,null,null,null,2]
[null,"Life",null,null,15,null,null,null,null,null,2]
[null,"Number",null,null,1,null,null,null,null,null,2]
[null,"Initial",null,null,{"$f":"find_initial(E23,E25,E24)","v":9.116874999999993E-3},null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,2]
[null,null,null,null,null,null,null,null,null,null,2]
[null,"Price Increase per Capacity",null,null,null,null,null,null,null,null,2]
[null,null,"Freight Revenues",null,null,null,null,null,null,true,3,null,{"$f":"'Financial Model'!I61","v":95144},{"$f":"'Financial Model'!J61","v":194525},{"$f":"'Financial Model'!K61","v":298081},{"$f":"'Financial Model'!L61","v":359404},{"$f":"'Financial Model'!M61","v":388193},{"$f":"'Financial Model'!N61","v":302345},{"$f":"'Financial Model'!O61","v":0},{"$f":"'Financial Model'!P61","v":0},{"$f":"'Financial Model'!Q61","v":0},{"$f":"'Financial Model'!R61","v":0},{"$f":"'Financial Model'!S61","v":0},{"$f":"'Financial Model'!T61","v":0},{"$f":"'Financial Model'!U61","v":0},{"$f":"'Financial Model'!V61","v":0},{"$f":"'Financial Model'!W61","v":0}]
[null,null,"Revenues per Flight Hour",null,null,null,null,null,null,null,3,null,{"$f":"IF(M4,M31/M20)","v":2.4145772002842349},{"$f":"IF(N4,N31/N20)","v":3.5227272727272729},3.9043433840672725,4.2756668014942063,4.2337550441705751,4.2751799324104578,false,false,false,false,false,false,false,false,false]
[null,null,"Base Price",null,null,null,null,null,null,null,3,null,null,null,null,null,null,{"$f":"R31/(R18*R2)*1000","v":81.042328271946573},{"$f":"R33","v":81.042328271946573},{"$f":"S33","v":81.042328271946573},81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573]
[null,null,"Price Increase",null,null,null,null,null,null,null,3]
[null,null,null,"2.5% Increase",null,null,null,null,null,null,3,null,null,null,null,null,null,null,0.01,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2]
[null,null,null,"Flat Case",null,null,null,null,null,null,3,null,null,null,null,null,null,null,0,0,0,0,0,0,0,0,0]
[null,null,null,"10% Decline Case",null,null,null,null,null,null,3,null,null,null,null,null,null,null,0,-0.01,-0.04,-0.05,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,3]
[null,null,null,{"$f":"INDEX(D35:D37,L39)","v":"Flat Case"},null,null,null,null,null,null,3,{"$f":"'Scenario Analysis'!E29","v":2},{"$f":"INDEX(M35:M37,$L$39)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Index",null,null,null,null,null,null,3,null,null,null,null,null,null,1,{"$f":"R40*(1+S39)^S2","v":1},{"$f":"S40*(1+T39)^T2","v":1},1,1,1,1,1,1,1]
[null,null,null,null,null,null,null,null,null,null,3]
[null,null,null,"Price per lb Applied",null,null,null,null,null,true,4,null,null,null,null,null,null,{"$f":"R40*R33","v":81.042328271946573},{"$f":"S40*S33","v":81.042328271946573},81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573]
[null,null,null,"Revenues ",null,null,null,null,null,true,5,null,{"$f":"IF(M4,M31,M42*M18/1000*M2)","v":95144},{"$f":"IF(N4,N31,N42*N18/1000*N2)","v":194525},298081,359404,388193,302345,120938,463004.13320431794,463332.34142740665,443278.80798110098,421219.92119016463,396955.14572013466,370263.89270310174,340903.51438436558,308607.09823375574]
[null,null,null,"Revenues per Flight Hour",null,null,null,null,null,true,6,null,{"$f":"M43/M20","v":2.4145772002842349},{"$f":"N43/N20","v":3.5227272727272729},3.9043433840672725,4.2756668014942063,4.2337550441705751,4.2751799324104578,4.2751799324104587,4.2751799324104587,4.2751799324104578,4.2751799324104587,4.2751799324104587,4.2751799324104578,4.2751799324104578,4.2751799324104587,4.2751799324104587]
[null,null,null,null,null,null,null,null,null,null,6]
[null,"Other Revenues",null,null,null,null,null,null,null,null,6]
[null,null,null,{"$f":"'Financial Model'!D62","v":"Maintenance and other(1)                              "},null,null,null,null,null,null,6,null,{"$f":"IF(M4,'Financial Model'!I62,$I$46)","v":2606},{"$f":"IF(N4,'Financial Model'!J62,$I$46)","v":5584},{"$f":"IF(O4,'Financial Model'!K62,$I$46)","v":7449},{"$f":"IF(P4,'Financial Model'!L62,$I$46)","v":14279},{"$f":"IF(Q4,'Financial Model'!M62,$I$46)","v":36348},{"$f":"IF(R4,'Financial Model'!N62,$I$46)","v":23299},{"$f":"IF(S4,'Financial Model'!O62,$I$46)","v":0},{"$f":"IF(T4,'Financial Model'!P62,$I$46)","v":0},{"$f":"IF(U4,'Financial Model'!Q62,$I$46)","v":0},{"$f":"IF(V4,'Financial Model'!R62,$I$46)","v":0},{"$f":"IF(W4,'Financial Model'!S62,$I$46)","v":0},{"$f":"IF(X4,'Financial Model'!T62,$I$46)","v":0},{"$f":"IF(Y4,'Financial Model'!U62,$I$46)","v":0},{"$f":"IF(Z4,'Financial Model'!V62,$I$46)","v":0},{"$f":"IF(AA4,'Financial Model'!W62,$I$46)","v":0}]
[null,null,null,"Annualized",3,{"$f":"SUMIF(3:3,TRUE,48:48)","v":32618.6},{"$f":"AVERAGEIF(4:4,TRUE,48:48)","v":16480.766666666666},{"$f":"'Scenario Analysis'!F29","v":39000},{"$f":"CHOOSE(E48,F48,G48,H48)","v":39000},null,6,null,{"$f":"IF(M4,M47/M2,$I$48)","v":2606},{"$f":"IF(N4,N47/N2,$I$48)","v":5584},7449,14279,36348,32618.6,39000,39000,39000,39000,39000,39000,39000,39000,39000]
[null,null,null,"Escalation",null,null,null,null,0.02,null,6,null,{"$f":"IF(M4,1,L49*((1+$I$49)^M2))","v":1},{"$f":"IF(N4,1,M49*((1+$I$49)^N2))","v":1},1,1,1,1,{"$f":"IF(S4,1,R49*((1+$I$49)^S2))","v":1.0056739296219646},1.0257874082144038,1.046303156378692,1.0672292195062658,1.0885738038963912,1.1103452799743192,1.1325521855738057,1.1552032292852819,1.1783072938709875]
[null,null,null,"Escalated Revenues",null,null,null,null,null,true,7,null,{"$f":"PRODUCT(M48:M49)*M2","v":2606},{"$f":"PRODUCT(N48:N49)*N2","v":5584},7449,14279,36348,23299,11206.080930073318,40005.708920361751,40805.823098768989,41621.939560744366,42454.378351959262,43303.465918998452,44169.535237378419,45052.925942125992,45953.984460968517]
[null,null,null,null,null,null,null,null,null,null,7]
["Operating Expense",null,null,null,null,null,null,null,null,null,7]
[null,"Flight Expense",null,null,null,null,null,null,null,null,7,null,{"$f":"'Financial Model'!I65","v":37259},{"$f":"'Financial Model'!J65","v":62877},{"$f":"'Financial Model'!K65","v":115614},{"$f":"'Financial Model'!L65","v":168775},{"$f":"'Financial Model'!M65","v":150256},{"$f":"'Financial Model'!N65","v":126208}]
[null,null,"Per Plane",null,null,null,null,null,null,null,7,null,{"$f":"IF(M4,M53/M21)","v":631.50847457627117},{"$f":"N53/'Financial Model'!J105","v":967.3384615384615},{"$f":"O53/'Financial Model'!K105","v":1344.3488372093022},{"$f":"P53/'Financial Model'!L105","v":1776.578947368421},{"$f":"Q53/'Financial Model'!M105","v":1549.0309278350514},{"$f":"R53/'Financial Model'!N105","v":1467.5348837209303}]
[null,null,null,"Flight per Hour - Company Case",null,null,null,null,null,null,7,null,{"$f":"M53/M20","v":0.94556390214191455},{"$f":"N53/N20","v":1.1386635277073525},1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,{"$f":"R55","v":1.7845901500261592},1.4,1.25,1.25,1.25,1.25,1.25,1.25,1.25]
[null,null,null,"Flight per Hour - Base Case",null,null,null,null,null,null,7,null,{"$f":"M55","v":0.94556390214191455},{"$f":"N55","v":1.1386635277073525},1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,{"$f":"S55","v":1.7845901500261592},1.6,1.5,1.4,1.4,1.4,1.4,1.4,1.4]
[null,null,null,"Flight per Hour - Low Case",null,null,null,null,null,null,7,null,{"$f":"M56","v":0.94556390214191455},{"$f":"N56","v":1.1386635277073525},1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,1.7845901500261592,1.6,1.5,1.5,1.5,1.5,1.5,1.5,1.5]
[null,null,null,"Flight per Hour - Worst Case",null,null,null,null,null,null,7,null,{"$f":"M57","v":0.94556390214191455},1.1386635277073525,1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,1.7845901500261592,{"$f":"S58","v":1.7845901500261592},{"$f":"T58","v":1.7845901500261592},1.7845901500261592,1.7845901500261592,1.7845901500261592,1.7845901500261592,1.7845901500261592,1.7845901500261592]
[null,null,null,null,null,null,null,null,null,null,7]
[null,null,null,{"$f":"INDEX(D55:D58,$L$60)","v":"Flight per Hour - Company Case"},null,null,null,null,null,true,8,{"$f":"'Scenario Analysis'!G29","v":1},{"$f":"INDEX(M55:M58,$L$60)","v":0.94556390214191455},{"$f":"INDEX(N55:N58,$L$60)","v":1.1386635277073525},1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,1.7845901500261592,1.4,1.25,1.25,1.25,1.25,1.25,1.25,1.25]
[null,null,null,null,null,null,null,null,null,null,8]
[null,"Maintenance Expense",null,null,null,null,null,null,null,null,8,null,{"$f":"IF(M4,'Financial Model'!I66)","v":22114},{"$f":"IF(N4,'Financial Model'!J66)","v":51933},{"$f":"IF(O4,'Financial Model'!K66)","v":64722},{"$f":"IF(P4,'Financial Model'!L66)","v":103389},{"$f":"IF(Q4,'Financial Model'!M66)","v":115082},{"$f":"IF(R4,'Financial Model'!N66)","v":107432},{"$f":"IF(S4,'Financial Model'!O66)","v":false},{"$f":"IF(T4,'Financial Model'!P66)","v":false},{"$f":"IF(U4,'Financial Model'!Q66)","v":false},{"$f":"IF(V4,'Financial Model'!R66)","v":false},{"$f":"IF(W4,'Financial Model'!S66)","v":false},{"$f":"IF(X4,'Financial Model'!T66)","v":false},{"$f":"IF(Y4,'Financial Model'!U66)","v":false},{"$f":"IF(Z4,'Financial Model'!V66)","v":false},{"$f":"IF(AA4,'Financial Model'!W66)","v":false}]
[null,null,"Per Plane",null,null,null,null,null,null,null,8,null,{"$f":"M62/M21","v":374.81355932203388},{"$f":"N62/N21","v":798.96923076923076},752.58139534883719,1088.3052631578948,1186.4123711340205,1249.2093023255813]
[null,null,"Per Hour",null,null,null,null,null,null,null,8,null,{"$f":"M62/M20","v":0.5612120596893716},{"$f":"N62/N20","v":0.94047446577327054},0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032]
[null,null,null,"Maint per Hour  - Company",null,null,null,null,null,null,8,null,{"$f":"M64","v":0.5612120596893716},{"$f":"N64","v":0.94047446577327054},0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,{"$f":"R65","v":1.5190961666266032},1.2,1.1000000000000001,1,1,1,1,1,1]
[null,null,null,"Maint per Hour  - Base Case",null,null,null,null,null,null,8,null,{"$f":"M65","v":0.5612120596893716},0.94047446577327054,0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,{"$f":"R66","v":1.5190961666266032},1.25,1.1499999999999999,1.1499999999999999,1.1499999999999999,1.1499999999999999,1.1499999999999999,1.1499999999999999,1.1499999999999999]
[null,null,null,"Maint per Hour  - Low Case",null,null,null,null,null,null,8,null,{"$f":"M66","v":0.5612120596893716},0.94047446577327054,0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,1.5190961666266032,1.5,1.4,{"$f":"U67","v":1.4},1.4,1.4,1.4,1.4,1.4]
[null,null,null,"Maint per Hour  - Worst Case",null,null,null,null,null,null,8,null,{"$f":"M67","v":0.5612120596893716},0.94047446577327054,0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,{"$f":"R68","v":1.5190961666266032},{"$f":"S68","v":1.5190961666266032},1.5190961666266032,1.5190961666266032,1.5190961666266032,1.5190961666266032,1.5190961666266032,1.5190961666266032,1.5190961666266032]
[null,null,null,null,null,null,null,null,null,null,8]
[null,null,null,{"$f":"INDEX(D65:D68,$L$70)","v":"Maint per Hour  - Company"},null,null,null,null,null,true,9,{"$f":"'Scenario Analysis'!H29","v":1},{"$f":"INDEX(M65:M68,$L$70)","v":0.5612120596893716},{"$f":"INDEX(N65:N68,$L$70)","v":0.94047446577327054},0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,1.5190961666266032,1.2,1.1000000000000001,1,1,1,1,1,1]
[null,null,null,null,null,null,null,null,null,null,{"$f":"K70+J71","v":9}]
[null,"Fuel Expense",null,null,null,null,null,null,null,null,9,null,{"$f":"'Financial Model'!I67","v":16508},{"$f":"'Financial Model'!J67","v":38554},{"$f":"'Financial Model'!K67","v":57362},{"$f":"'Financial Model'!L67","v":54538},{"$f":"'Financial Model'!M67","v":82717},{"$f":"'Financial Model'!N67","v":55095},{"$f":"'Financial Model'!O67","v":0},{"$f":"'Financial Model'!P67","v":0},{"$f":"'Financial Model'!Q67","v":0},{"$f":"'Financial Model'!R67","v":0},{"$f":"'Financial Model'!S67","v":0},{"$f":"'Financial Model'!T67","v":0},{"$f":"'Financial Model'!U67","v":0},{"$f":"'Financial Model'!V67","v":0},{"$f":"'Financial Model'!W67","v":0}]
[null,null,"Per Plane",null,null,null,null,null,null,null,9,null,{"$f":"IF(M4,M72/M21)","v":279.79661016949154},{"$f":"IF(N4,N72/N21)","v":593.13846153846157},667,574.08421052631581,852.75257731958766,640.6395348837209,false,false,false,false,false,false,false,false,false]
[null,null,"Per Hour",null,null,null,null,null,null,null,9,null,{"$f":"IF(M4,M72/M20)","v":0.41894223936656177},{"$f":"IF(N4,N72/N20)","v":0.69818906193408181},0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,false,false,false,false,false,false,false,false,false]
[null,null,null,"Fuel per Hour - Company",null,null,null,null,null,null,9,null,{"$f":"M74","v":0.41894223936656177},{"$f":"N74","v":0.69818906193408181},0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,{"$f":"R75","v":0.7790472419790444},{"$f":"S75","v":0.7790472419790444},{"$f":"T75","v":0.7790472419790444},0.7790472419790444,0.7790472419790444,0.7790472419790444,0.7790472419790444,0.7790472419790444,0.7790472419790444]
[null,null,null,"Fuel per Hour - Base Case",null,null,null,null,null,null,9,null,{"$f":"M75","v":0.41894223936656177},0.69818906193408181,0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,0.7790472419790444,{"$f":"S76*1.02","v":0.79462818681862535},{"$f":"T76*1.02","v":0.81052075055499784},0.82673116556609783,0.84326578887741976,0.86013110465496823,0.87733372674806764,0.89488040128302904,0.91277800930868969]
[null,null,null,"Fuel per Hour - Low Case",null,null,null,null,null,null,9,null,0.41894223936656177,0.69818906193408181,0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,0.7790472419790444,{"$f":"S77*1.03","v":0.80241865923841571},{"$f":"T77*1.03","v":0.82649121901556821},0.85128595558603526,0.87682453425361639,0.90312927028122492,{"$f":"X77","v":0.90312927028122492},{"$f":"Y77","v":0.90312927028122492},0.90312927028122492]
[null,null,null,"Fuel per Hour - Worst Case",null,null,null,null,null,null,9,null,0.41894223936656177,0.69818906193408181,0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,0.7790472419790444,0.80241865923841571,0.82649121901556821,0.85128595558603526,0.87682453425361639,0.90312927028122492,0.90312927028122492,0.90312927028122492,0.90312927028122492]
[null,null,null,null,null,null,null,null,null,null,9]
[null,null,null,{"$f":"INDEX(D75:D78,$L$80)","v":"Fuel per Hour - Base Case"},null,null,null,null,null,true,10,{"$f":"'Scenario Analysis'!I29","v":2},{"$f":"INDEX(M75:M78,$L$80)","v":0.41894223936656177},{"$f":"INDEX(N75:N78,$L$80)","v":0.69818906193408181},0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,0.7790472419790444,0.79462818681862535,0.81052075055499784,0.82673116556609783,0.84326578887741976,0.86013110465496823,0.87733372674806764,0.89488040128302904,0.91277800930868969]
[null,null,null,null,null,null,null,null,null,null,10]
[null,"Selling and Admininstrative",null,null,null,null,null,null,null,null,10,null,{"$f":"IF(M4,'Financial Model'!I69)","v":4232},{"$f":"IF(N4,'Financial Model'!J69)","v":9554},{"$f":"IF(O4,'Financial Model'!K69)","v":13273},{"$f":"IF(P4,'Financial Model'!L69)","v":21676},{"$f":"IF(Q4,'Financial Model'!M69)","v":21889},{"$f":"IF(R4,'Financial Model'!N69)","v":17848},{"$f":"IF(S4,'Financial Model'!O69)","v":false},{"$f":"IF(T4,'Financial Model'!P69)","v":false},{"$f":"IF(U4,'Financial Model'!Q69)","v":false},{"$f":"IF(V4,'Financial Model'!R69)","v":false},{"$f":"IF(W4,'Financial Model'!S69)","v":false},{"$f":"IF(X4,'Financial Model'!T69)","v":false},{"$f":"IF(Y4,'Financial Model'!U69)","v":false},{"$f":"IF(Z4,'Financial Model'!V69)","v":false},{"$f":"IF(AA4,'Financial Model'!W69)","v":false}]
[null,null,"Per Revenue",null,null,null,null,null,null,null,10,null,{"$f":"IF(M31,M82/M31)","v":4.447994618683259E-2},{"$f":"IF(N31,N82/N31)","v":4.9114509703122991E-2},4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,false,false,false,false,false,false,false,false,false]
[null,null,"Increase",null,null,null,null,null,null,null,10,null,null,{"$f":"IF(N4,N82/M82-1)","v":1.2575614366729679},{"$f":"IF(O4,O82/N82-1)","v":0.38926104249529003},0.63308973103292399,9.8265362613028095E-3,-0.18461327607474076,false,false,false,false,false,false,false,false,false]
[null,null,null,"SG&A per Revenue - Company",null,null,null,null,null,null,10,null,{"$f":"M83","v":4.447994618683259E-2},{"$f":"N83","v":4.9114509703122991E-2},4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,{"$f":"R85","v":5.9031900643304831E-2},5.3999999999999999E-2,0.05,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2]
[null,null,null,"SG&A per Revenue - Base Case",null,null,null,null,null,null,10,null,{"$f":"M85","v":4.447994618683259E-2},{"$f":"N85","v":4.9114509703122991E-2},4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.3999999999999999E-2,5.1999999999999998E-2,{"$f":"U86","v":5.1999999999999998E-2},{"$f":"V86","v":5.1999999999999998E-2},5.1999999999999998E-2,5.1999999999999998E-2,5.1999999999999998E-2,5.1999999999999998E-2]
[null,null,null,"SG&A per Revenue - Low Case",null,null,null,null,null,null,10,null,{"$f":"M85","v":4.447994618683259E-2},4.9114509703122991E-2,4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,{"$f":"R87","v":5.9031900643304831E-2},{"$f":"S87","v":5.9031900643304831E-2},{"$f":"T87","v":5.9031900643304831E-2},5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2]
[null,null,null,"SG&A per Revenue - Worst Case",null,null,null,null,null,null,10,null,{"$f":"M86","v":4.447994618683259E-2},4.9114509703122991E-2,4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,5.9031900643304831E-2,{"$f":"S88","v":5.9031900643304831E-2},{"$f":"T88","v":5.9031900643304831E-2},5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.9031900643304831E-2]
[null,null,null,null,null,null,null,null,null,null,10]
[null,null,null,{"$f":"INDEX(D85:D88,$L$90)","v":"SG&A per Revenue - Company"},null,null,null,null,null,true,11,{"$f":"'Scenario Analysis'!J29","v":1},{"$f":"INDEX(M85:M88,$L$90)","v":4.447994618683259E-2},{"$f":"INDEX(N85:N88,$L$90)","v":4.9114509703122991E-2},4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.3999999999999999E-2,0.05,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2]
[null,null,null,null,null,null,null,null,null,null,11]
[null,"Bad Debt Expenses",null,null,null,null,null,null,null,null,11,null,{"$f":"IF(M4,'Financial Model'!I70)","v":1557},{"$f":"IF(N4,'Financial Model'!J70)","v":1547},{"$f":"IF(O4,'Financial Model'!K70)","v":2231},{"$f":"IF(P4,'Financial Model'!L70)","v":1862},{"$f":"IF(Q4,'Financial Model'!M70)","v":1011},{"$f":"IF(R4,'Financial Model'!N70)","v":1633},{"$f":"IF(S4,'Financial Model'!O70)","v":false},{"$f":"IF(T4,'Financial Model'!P70)","v":false},{"$f":"IF(U4,'Financial Model'!Q70)","v":false},{"$f":"IF(V4,'Financial Model'!R70)","v":false},{"$f":"IF(W4,'Financial Model'!S70)","v":false},{"$f":"IF(X4,'Financial Model'!T70)","v":false},{"$f":"IF(Y4,'Financial Model'!U70)","v":false},{"$f":"IF(Z4,'Financial Model'!V70)","v":false},{"$f":"IF(AA4,'Financial Model'!W70)","v":false}]
[null,null,"Per Revenue",null,3,{"$f":"SUMIF(3:3,TRUE,93:93)","v":5.4011146207147464E-3},{"$f":"AVERAGEIF(4:4,TRUE,93:93)","v":7.4980341607095184E-3},{"$f":"'Scenario Analysis'!K29","v":5.0000000000000001E-3},{"$f":"CHOOSE(E93,F93,G93,H93)","v":5.0000000000000001E-3},true,12,null,{"$f":"IF(M4,M92/M43,$I$93)","v":1.6364668292272764E-2},{"$f":"IF(N4,N92/N43,$I$93)","v":7.9527053078010546E-3},7.4845427920598763E-3,5.1807993233241702E-3,2.6043746280844837E-3,5.4011146207147464E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3]
[null,null,null,null,null,null,null,null,null,null,12]
["Captial Expenditures",null,null,null,null,null,null,null,null,null,12]
[null,"Historic",null,null,null,null,null,null,null,null,12,null,{"$f":"IF(M4,'Financial Model'!I87)","v":55863},{"$f":"IF(N4,'Financial Model'!J87)","v":20468},{"$f":"IF(O4,'Financial Model'!K87)","v":77832},{"$f":"IF(P4,'Financial Model'!L87)","v":153719},{"$f":"IF(Q4,'Financial Model'!M87)","v":53413},{"$f":"IF(R4,'Financial Model'!N87)","v":54509},{"$f":"IF(S4,'Financial Model'!O87)","v":false},{"$f":"IF(T4,'Financial Model'!P87)","v":false},{"$f":"IF(U4,'Financial Model'!Q87)","v":false},{"$f":"IF(V4,'Financial Model'!R87)","v":false},{"$f":"IF(W4,'Financial Model'!S87)","v":false},{"$f":"IF(X4,'Financial Model'!T87)","v":false},{"$f":"IF(Y4,'Financial Model'!U87)","v":false},{"$f":"IF(Z4,'Financial Model'!V87)","v":false},{"$f":"IF(AA4,'Financial Model'!W87)","v":false}]
[null,"Aircraft Owned",null,null,null,null,null,null,null,null,12,null,{"$f":"IF(M4,'Financial Model'!I104)","v":52},{"$f":"IF(N4,'Financial Model'!J104)","v":57},{"$f":"IF(O4,'Financial Model'!K104)","v":82},{"$f":"IF(P4,'Financial Model'!L104)","v":91},{"$f":"IF(Q4,'Financial Model'!M104)","v":95},{"$f":"IF(R4,'Financial Model'!N104)","v":84},{"$f":"IF(S4,'Financial Model'!O104)","v":false},{"$f":"IF(T4,'Financial Model'!P104)","v":false},{"$f":"IF(U4,'Financial Model'!Q104)","v":false},{"$f":"IF(V4,'Financial Model'!R104)","v":false},{"$f":"IF(W4,'Financial Model'!S104)","v":false},{"$f":"IF(X4,'Financial Model'!T104)","v":false},{"$f":"IF(Y4,'Financial Model'!U104)","v":false},{"$f":"IF(Z4,'Financial Model'!V104)","v":false},{"$f":"IF(AA4,'Financial Model'!W104)","v":false}]
[null,"Change in Aircraft",null,null,null,null,null,null,null,null,12,null,null,{"$f":"N97-M97","v":5},{"$f":"O97-N97","v":25},9,4,-11,-84,0,0,0,0,0,0,0,0]
[null,null,"Company Case Maintenance Expenditures",null,null,null,null,null,null,null,12,null,null,null,null,null,null,null,{"$f":"R96/R2*S2","v":21803.599999999995},25000,25000,25000,20000,20000,20000,20000,20000]
[null,null,"Base Case Maintenance Expenditures",null,null,null,null,null,null,null,12,null,null,null,null,null,null,null,{"$f":"S99","v":21803.599999999995},35000,35000,30000,30000,30000,30000,{"$f":"Z99","v":20000},{"$f":"AA99","v":20000}]
[null,null,"Downside Case Maintenance Expenditures",null,null,null,null,null,null,null,12,null,null,null,null,null,null,null,{"$f":"S100","v":21803.599999999995},40000,40000,40000,{"$f":"W100","v":30000},40000,{"$f":"Y100","v":30000},{"$f":"Z100","v":20000},{"$f":"AA100","v":20000}]
[null,null,"Worst Case Maintenance Expenditures",null,null,null,null,null,null,null,12,null,null,null,null,null,null,null,{"$f":"S101","v":21803.599999999995},{"$f":"T101","v":40000},{"$f":"U101","v":40000},40000,30000,40000,30000,20000,20000]
[null,null,null,null,null,null,null,null,null,null,12]
[null,null,{"$f":"INDEX(C99:C102,$L$104)","v":"Company Case Maintenance Expenditures"},null,null,null,null,null,null,true,13,{"$f":"'Scenario Analysis'!L29","v":1},{"$f":"INDEX(M99:M102,$L$104)","v":0},{"$f":"INDEX(N99:N102,$L$104)","v":0},0,0,0,0,21803.599999999995,25000,25000,25000,20000,20000,20000,20000,20000]
[null,null,null,null,null,null,null,null,null,null,13]
[null,null,"Capital Expenditures for New 747",null,null,null,null,null,null,null,null,null,null,null,null,null,null,56000]
[]
["Depreciation Expense",null,null,null,null,null,null,null,null,null,{"$f":"K105+J108","v":13}]
[null,"Historic Depreciation",null,null,null,null,null,null,null,null,13,null,{"$f":"IF(M4,'Financial Model'!I68/M2)","v":8999},{"$f":"IF(N4,'Financial Model'!J68/N2)","v":12422},{"$f":"IF(O4,'Financial Model'!K68/O2)","v":13809},{"$f":"IF(P4,'Financial Model'!L68/P2)","v":20972},{"$f":"IF(Q4,'Financial Model'!M68/Q2)","v":32091},{"$f":"IF(R4,'Financial Model'!N68/R2)","v":37055.199999999997},{"$f":"IF(S4,'Financial Model'!O68/S2)","v":false},{"$f":"IF(T4,'Financial Model'!P68/T2)","v":false},{"$f":"IF(U4,'Financial Model'!Q68/U2)","v":false},{"$f":"IF(V4,'Financial Model'!R68/V2)","v":false},{"$f":"IF(W4,'Financial Model'!S68/W2)","v":false},{"$f":"IF(X4,'Financial Model'!T68/X2)","v":false},{"$f":"IF(Y4,'Financial Model'!U68/Y2)","v":false},{"$f":"IF(Z4,'Financial Model'!V68/Z2)","v":false},{"$f":"IF(AA4,'Financial Model'!W68/AA2)","v":false}]
[null,"Historic Net Plant",null,null,null,null,null,null,null,null,13,null,{"$f":"IF(M4,'Financial Model'!I27)","v":117295},{"$f":"IF(N4,'Financial Model'!J27)","v":127098},{"$f":"IF(O4,'Financial Model'!K27)","v":226541},{"$f":"IF(P4,'Financial Model'!L27)","v":226841.734},{"$f":"IF(Q4,'Financial Model'!M27)","v":264006.68800000002},{"$f":"IF(R4,'Financial Model'!N27)","v":248466.245},{"$f":"IF(S4,'Financial Model'!O27)","v":false},{"$f":"IF(T4,'Financial Model'!P27)","v":false},{"$f":"IF(U4,'Financial Model'!Q27)","v":false},{"$f":"IF(V4,'Financial Model'!R27)","v":false},{"$f":"IF(W4,'Financial Model'!S27)","v":false},{"$f":"IF(X4,'Financial Model'!T27)","v":false},{"$f":"IF(Y4,'Financial Model'!U27)","v":false},{"$f":"IF(Z4,'Financial Model'!V27)","v":false},{"$f":"IF(AA4,'Financial Model'!W27)","v":false}]
[null,"Historic Gross Plant",null,null,null,null,null,null,null,null,13,null,{"$f":"IF(M4,'Financial Model'!I25)","v":117295},{"$f":"IF(N4,'Financial Model'!J25)","v":127098},{"$f":"IF(O4,'Financial Model'!K25)","v":226541},{"$f":"IF(P4,'Financial Model'!L25)","v":308088.61499999999},{"$f":"IF(Q4,'Financial Model'!M25)","v":373714.2},{"$f":"IF(R4,'Financial Model'!N25)","v":362349.80499999999},{"$f":"IF(S4,'Financial Model'!O25)","v":false},{"$f":"IF(T4,'Financial Model'!P25)","v":false},{"$f":"IF(U4,'Financial Model'!Q25)","v":false},{"$f":"IF(V4,'Financial Model'!R25)","v":false},{"$f":"IF(W4,'Financial Model'!S25)","v":false},{"$f":"IF(X4,'Financial Model'!T25)","v":false},{"$f":"IF(Y4,'Financial Model'!U25)","v":false},{"$f":"IF(Z4,'Financial Model'!V25)","v":false},{"$f":"IF(AA4,'Financial Model'!W25)","v":false}]
[null,null,null,null,null,null,null,null,null,null,13]
[null,"Net Plant Depreciation Rate",null,null,null,null,null,null,null,null,13,null,{"$f":"IF(M110,M109/M110)","v":7.6721087855407308E-2},{"$f":"IF(N110,N109/N110)","v":9.7735605595682076E-2},6.0955853465818548E-2,9.2452123470366354E-2,0.12155373882043471,0.14913575081395863,false,false,false,false,false,false,false,false,false]
[null,"Gross Plant Depreciation Rate",null,null,1,{"$f":"AVERAGEIF(3:3,TRUE,114:114)","v":0.10226361236761256},{"$f":"AVERAGEIF(4:4,TRUE,114:114)","v":8.1936319340517497E-2},{"$f":"1/13","v":7.6923076923076927E-2},{"$f":"CHOOSE(E114,F114,G114,H114)","v":0.10226361236761256},true,14,null,{"$f":"IF(AND(M111,M4),M109/M111,$I$114)","v":7.6721087855407308E-2},9.7735605595682076E-2,6.0955853465818548E-2,6.8071324219494453E-2,8.5870432539090033E-2,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256]
[null,"Implied Life of Assets",null,null,1,null,null,null,null,null,14,null,{"$f":"IF(M114,1/M114)","v":13.034226025113901},{"$f":"IF(N114,1/N114)","v":10.231685718885847},16.405315374031428,14.690473726873925,11.645451995886697,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452,9.7786492853904452]
[null,null,null,null,null,null,null,null,null,null,14]
[null,"Retirement Rate",null,null,null,null,null,null,null,null,14,null,{"$f":"LOOKUP(M1,Depreciation!2:2,Depreciation!13:13)","v":{"$error":"#N/A"}},{"$f":"LOOKUP(N1,Depreciation!2:2,Depreciation!13:13)","v":{"$error":"#N/A"}},{"$f":"LOOKUP(O1,Depreciation!2:2,Depreciation!13:13)","v":{"$error":"#N/A"}},{"$f":"LOOKUP(P1,Depreciation!2:2,Depreciation!13:13)","v":{"$error":"#N/A"}},{"$f":"LOOKUP(Q1,Depreciation!2:2,Depreciation!13:13)","v":{"$error":"#N/A"}},{"$f":"LOOKUP(R1,Depreciation!2:2,Depreciation!13:13)","v":0},{"$f":"LOOKUP(S1,Depreciation!2:2,Depreciation!13:13)","v":0},{"$f":"LOOKUP(T1,Depreciation!2:2,Depreciation!13:13)","v":3.3311710750748923E-2},{"$f":"LOOKUP(U1,Depreciation!2:2,Depreciation!13:13)","v":3.6642881825823821E-2},{"$f":"LOOKUP(V1,Depreciation!2:2,Depreciation!13:13)","v":4.030717000840621E-2},{"$f":"LOOKUP(W1,Depreciation!2:2,Depreciation!13:13)","v":4.4337887009246832E-2},{"$f":"LOOKUP(X1,Depreciation!2:2,Depreciation!13:13)","v":4.8771675710171519E-2},{"$f":"LOOKUP(Y1,Depreciation!2:2,Depreciation!13:13)","v":5.3648843281188678E-2},{"$f":"LOOKUP(Z1,Depreciation!2:2,Depreciation!13:13)","v":5.9013727609307551E-2},{"$f":"LOOKUP(AA1,Depreciation!2:2,Depreciation!13:13)","v":6.4915100370238316E-2}]
[null,null,null,null,null,null,null,null,null,null,14]
[null,"Depreciation Life on Maintenance Expenditures",null,null,null,null,null,null,null,null,14,13,{"$f":"IF(M4,L119,L119-1)","v":13},13,13,13,13,13,12,11,10,9,8,7,6,5,4]
[null,"Depreciation Rate on Maintenance Expenditures",null,null,null,null,null,null,null,null,14,null,{"$f":"1/M119","v":7.6923076923076927E-2},{"$f":"1/N119","v":7.6923076923076927E-2},7.6923076923076927E-2,7.6923076923076927E-2,7.6923076923076927E-2,7.6923076923076927E-2,8.3333333333333329E-2,9.0909090909090912E-2,0.1,0.1111111111111111,0.125,0.14285714285714285,0.16666666666666666,0.2,0.25]
[null,null,null,null,null,null,null,null,null,null,14]
["Working Capital",null,null,null,null,null,null,null,null,null,14]
[null,"Accounts Receivable",null,null,null,null,null,null,null,null,14,null,{"$f":"'Financial Model'!I11+'Financial Model'!I12","v":5478},{"$f":"'Financial Model'!J11+'Financial Model'!J12","v":35827},{"$f":"'Financial Model'!K11+'Financial Model'!K12","v":44920},{"$f":"'Financial Model'!L11+'Financial Model'!L12","v":92664.084000000003},{"$f":"'Financial Model'!M11+'Financial Model'!M12","v":70041.903000000006},{"$f":"'Financial Model'!N11+'Financial Model'!N12","v":66163.482000000004},{"$f":"'Financial Model'!O11+'Financial Model'!O12","v":0},{"$f":"'Financial Model'!P11+'Financial Model'!P12","v":0},{"$f":"'Financial Model'!Q11+'Financial Model'!Q12","v":0},{"$f":"'Financial Model'!R11+'Financial Model'!R12","v":0},{"$f":"'Financial Model'!S11+'Financial Model'!S12","v":0},{"$f":"'Financial Model'!T11+'Financial Model'!T12","v":0},{"$f":"'Financial Model'!U11+'Financial Model'!U12","v":0},{"$f":"'Financial Model'!V11+'Financial Model'!V12","v":0},{"$f":"'Financial Model'!W11+'Financial Model'!W12","v":0}]
[null,"Total Revenues",null,null,null,null,null,null,null,null,14,null,{"$f":"'Financial Model'!I63/M2","v":97750},{"$f":"'Financial Model'!J63/N2","v":200109},{"$f":"'Financial Model'!K63/O2","v":305530},{"$f":"'Financial Model'!L63/P2","v":373683},{"$f":"'Financial Model'!M63/Q2","v":424541},{"$f":"'Financial Model'!N63/R2","v":455901.6},{"$f":"'Financial Model'!O63/S2","v":0},{"$f":"'Financial Model'!P63/T2","v":0},{"$f":"'Financial Model'!Q63/U2","v":0},{"$f":"'Financial Model'!R63/V2","v":0},{"$f":"'Financial Model'!S63/W2","v":0},{"$f":"'Financial Model'!T63/X2","v":0},{"$f":"'Financial Model'!U63/Y2","v":0},{"$f":"'Financial Model'!V63/Z2","v":0},{"$f":"'Financial Model'!W63/AA2","v":0}]
[null,"A/R Percent",null,null,3,{"$f":"SUMIF($3:$3,TRUE,125:125)","v":0.14512667207134172},{"$f":"AVERAGEIF($4:$4,TRUE,125:125)","v":0.15669766574706087},{"$f":"'Scenario Analysis'!M29","v":0.15},{"$f":"CHOOSE(E125,F125,G125,H125)","v":0.15},true,15,null,{"$f":"IF(M$4,M123/M124,$I$125)","v":5.6040920716112531E-2},0.17903742460359104,0.14702320557719373,0.24797511259543517,0.16498265891869102,0.14512667207134172,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15]
[null,null,null,null,null,null,null,null,null,null,15]
[null,"Inventories",null,null,null,null,null,null,null,null,15,null,{"$f":"'Financial Model'!I13","v":0},{"$f":"'Financial Model'!J13","v":0},{"$f":"'Financial Model'!K13","v":0},{"$f":"'Financial Model'!L13","v":12330.853999999999},{"$f":"'Financial Model'!M13","v":20742.14},{"$f":"'Financial Model'!N13","v":24624.353999999999},{"$f":"'Financial Model'!O13","v":0},{"$f":"'Financial Model'!P13","v":0},{"$f":"'Financial Model'!Q13","v":0},{"$f":"'Financial Model'!R13","v":0},{"$f":"'Financial Model'!S13","v":0},{"$f":"'Financial Model'!T13","v":0},{"$f":"'Financial Model'!U13","v":0},{"$f":"'Financial Model'!V13","v":0},{"$f":"'Financial Model'!W13","v":0}]
[null,"Total Operating Costs",null,null,null,null,null,null,null,null,15,null,{"$f":"'Financial Model'!I132/M2","v":81670},{"$f":"'Financial Model'!J132/N2","v":164465},{"$f":"'Financial Model'!K132/O2","v":253202},{"$f":"'Financial Model'!L132/P2","v":350240},{"$f":"'Financial Model'!M132/Q2","v":370955},{"$f":"'Financial Model'!N132/R2","v":431502.39999999997},{"$f":"'Financial Model'!O132/S2","v":431332.61500000005},{"$f":"'Financial Model'!P132/T2","v":394957.18089972145},{"$f":"'Financial Model'!Q132/U2","v":368011.8980731112},{"$f":"'Financial Model'!R132/V2","v":341179.68830032973},{"$f":"'Financial Model'!S132/W2","v":325830.66480103991},{"$f":"'Financial Model'!T132/X2","v":308626.84152935614},{"$f":"'Financial Model'!U132/Y2","v":289364.6623521084},{"$f":"'Financial Model'!V132/Z2","v":267818.42925837863},{"$f":"'Financial Model'!W132/AA2","v":243737.87862799683}]
[null,"Inventory Percent of Total Expense",null,null,1,{"$f":"SUMIF($3:$3,TRUE,129:129)","v":5.7066551657650108E-2},{"$f":"AVERAGEIF($4:$4,TRUE,129:129)","v":2.4698156098634062E-2},0.05,{"$f":"CHOOSE(E129,F129,G129,H129)","v":5.7066551657650108E-2},true,16,null,{"$f":"IF(M$4,M127/M128,$I129)","v":0},{"$f":"IF(N$4,N127/N128,$I129)","v":0},0,3.5206869575148465E-2,5.591551535900581E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2]
[null,null,null,null,null,null,null,null,null,null,16]
[null,"Pre-paid and Other",null,null,null,null,null,null,null,null,16,null,{"$f":"'Financial Model'!I15+'Financial Model'!I16","v":0},{"$f":"'Financial Model'!J15+'Financial Model'!J16","v":0},{"$f":"'Financial Model'!K15+'Financial Model'!K16","v":0},{"$f":"'Financial Model'!L15+'Financial Model'!L16","v":8994.4290000000001},{"$f":"'Financial Model'!M15+'Financial Model'!M16","v":13846.32},{"$f":"'Financial Model'!N15+'Financial Model'!N16","v":14325.573},{"$f":"'Financial Model'!O15+'Financial Model'!O16","v":0},{"$f":"'Financial Model'!P15+'Financial Model'!P16","v":0},{"$f":"'Financial Model'!Q15+'Financial Model'!Q16","v":0},{"$f":"'Financial Model'!R15+'Financial Model'!R16","v":0},{"$f":"'Financial Model'!S15+'Financial Model'!S16","v":0},{"$f":"'Financial Model'!T15+'Financial Model'!T16","v":0},{"$f":"'Financial Model'!U15+'Financial Model'!U16","v":0},{"$f":"'Financial Model'!V15+'Financial Model'!V16","v":0},{"$f":"'Financial Model'!W15+'Financial Model'!W16","v":0}]
[null,"Total Revenues",null,null,null,null,null,null,null,null,16,null,{"$f":"M124","v":97750},{"$f":"N124","v":200109},305530,373683,424541,455901.6,0,0,0,0,0,0,0,0,0]
[null,"Pre-Paid Pct of Revenue",null,null,1,{"$f":"SUMIF($3:$3,TRUE,133:133)","v":3.1422510910249057E-2},{"$f":"AVERAGEIF($4:$4,TRUE,133:133)","v":1.4684498011652549E-2},0.03,{"$f":"CHOOSE(E133,F133,G133,H133)","v":3.1422510910249057E-2},true,17,null,{"$f":"IF(M$4,M131/M132,$I133)","v":0},{"$f":"IF(N$4,N131/N132,$I133)","v":0},{"$f":"IF(O$4,O131/O132,$I133)","v":0},{"$f":"IF(P$4,P131/P132,$I133)","v":2.4069676704586509E-2},{"$f":"IF(Q$4,Q131/Q132,$I133)","v":3.2614800455079723E-2},{"$f":"IF(R$4,R131/R132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(S$4,S131/S132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(T$4,T131/T132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(U$4,U131/U132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(V$4,V131/V132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(W$4,W131/W132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(X$4,X131/X132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(Y$4,Y131/Y132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(Z$4,Z131/Z132,$I133)","v":3.1422510910249057E-2},{"$f":"IF(AA$4,AA131/AA132,$I133)","v":3.1422510910249057E-2}]
[null,null,null,null,null,null,null,null,null,null,17]
[null,"Accounts Payable",null,null,null,null,null,null,null,null,17,null,{"$f":"'Financial Model'!I38+'Financial Model'!I39","v":0},{"$f":"'Financial Model'!J38+'Financial Model'!J39","v":0},{"$f":"'Financial Model'!K38+'Financial Model'!K39","v":0},{"$f":"'Financial Model'!L38+'Financial Model'!L39","v":66546.370999999999},{"$f":"'Financial Model'!M38+'Financial Model'!M39","v":46147.68},{"$f":"'Financial Model'!N38+'Financial Model'!N39","v":49898.925999999999},{"$f":"'Financial Model'!O38+'Financial Model'!O39","v":0},{"$f":"'Financial Model'!P38+'Financial Model'!P39","v":0},{"$f":"'Financial Model'!Q38+'Financial Model'!Q39","v":0},{"$f":"'Financial Model'!R38+'Financial Model'!R39","v":0},{"$f":"'Financial Model'!S38+'Financial Model'!S39","v":0},{"$f":"'Financial Model'!T38+'Financial Model'!T39","v":0},{"$f":"'Financial Model'!U38+'Financial Model'!U39","v":0},{"$f":"'Financial Model'!V38+'Financial Model'!V39","v":0},{"$f":"'Financial Model'!W38+'Financial Model'!W39","v":0}]
[null,"Total Operating Cost",null,null,null,null,null,null,null,null,17,null,{"$f":"M128","v":81670},{"$f":"N128","v":164465},253202,350240,370955,431502.39999999997,431332.61500000005,394957.18089972145,368011.8980731112,341179.68830032973,325830.66480103991,308626.84152935614,289364.6623521084,267818.42925837863,243737.87862799683]
[null,"Accounts Payable Percent of Op Cost",null,null,1,{"$f":"SUMIF($3:$3,TRUE,137:137)","v":0.11563997326550213},{"$f":"AVERAGEIF($4:$4,TRUE,137:137)","v":7.1674090246175798E-2},{"$f":"'Scenario Analysis'!N29","v":0.12},{"$f":"CHOOSE(E137,F137,G137,H137)","v":0.11563997326550213},true,{"$f":"K136+J137","v":18},null,{"$f":"IF(M$4,M135/M136,$I137)","v":0},{"$f":"IF(N$4,N135/N136,$I137)","v":0},{"$f":"IF(O$4,O135/O136,$I137)","v":0},{"$f":"IF(P$4,P135/P136,$I137)","v":0.19000220134764734},{"$f":"IF(Q$4,Q135/Q136,$I137)","v":0.12440236686390532},{"$f":"IF(R$4,R135/R136,$I137)","v":0.11563997326550213},{"$f":"IF(S$4,S135/S136,$I137)","v":0.11563997326550213},{"$f":"IF(T$4,T135/T136,$I137)","v":0.11563997326550213},{"$f":"IF(U$4,U135/U136,$I137)","v":0.11563997326550213},{"$f":"IF(V$4,V135/V136,$I137)","v":0.11563997326550213},{"$f":"IF(W$4,W135/W136,$I137)","v":0.11563997326550213},{"$f":"IF(X$4,X135/X136,$I137)","v":0.11563997326550213},{"$f":"IF(Y$4,Y135/Y136,$I137)","v":0.11563997326550213},{"$f":"IF(Z$4,Z135/Z136,$I137)","v":0.11563997326550213},{"$f":"IF(AA$4,AA135/AA136,$I137)","v":0.11563997326550213}]
[null,null,null,null,null,null,null,null,null,null,18]
[null,"Accrued Expenses",null,null,null,null,null,null,null,null,18,null,{"$f":"'Financial Model'!I40","v":12720},{"$f":"'Financial Model'!J40","v":32528},{"$f":"'Financial Model'!K40","v":57957},{"$f":"'Financial Model'!L40","v":20342.988000000001},{"$f":"'Financial Model'!M40","v":24172.883000000002},{"$f":"'Financial Model'!N40","v":22969.507000000001},{"$f":"'Financial Model'!O40","v":0},{"$f":"'Financial Model'!P40","v":0},{"$f":"'Financial Model'!Q40","v":0},{"$f":"'Financial Model'!R40","v":0},{"$f":"'Financial Model'!S40","v":0},{"$f":"'Financial Model'!T40","v":0},{"$f":"'Financial Model'!U40","v":0},{"$f":"'Financial Model'!V40","v":0},{"$f":"'Financial Model'!W40","v":0}]
[null,"Total Operating Cost",null,null,null,null,null,null,null,null,18,null,{"$f":"M136","v":81670},{"$f":"N136","v":164465},253202,350240,370955,431502.39999999997,431332.61500000005,394957.18089972145,368011.8980731112,341179.68830032973,325830.66480103991,308626.84152935614,289364.6623521084,267818.42925837863,243737.87862799683]
[null,"Accrued Expenses Percent of Op Cost",null,null,1,{"$f":"SUMIF($3:$3,TRUE,141:141)","v":5.3231469859727321E-2},{"$f":"AVERAGEIF($4:$4,TRUE,141:141)","v":0.12648401853876368},0.05,{"$f":"CHOOSE(E141,F141,G141,H141)","v":5.3231469859727321E-2},true,19,null,{"$f":"IF(M$4,M139/M140,$I141)","v":0.15574874494918575},{"$f":"IF(N$4,N139/N140,$I141)","v":0.1977806828200529},{"$f":"IF(O$4,O139/O140,$I141)","v":0.22889629623778643},{"$f":"IF(P$4,P139/P140,$I141)","v":5.8082994518044773E-2},{"$f":"IF(Q$4,Q139/Q140,$I141)","v":6.5163922847784772E-2},{"$f":"IF(R$4,R139/R140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(S$4,S139/S140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(T$4,T139/T140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(U$4,U139/U140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(V$4,V139/V140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(W$4,W139/W140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(X$4,X139/X140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(Y$4,Y139/Y140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(Z$4,Z139/Z140,$I141)","v":5.3231469859727321E-2},{"$f":"IF(AA$4,AA139/AA140,$I141)","v":5.3231469859727321E-2}]
[null,null,null,null,null,null,null,null,null,null,19]
[null,"Deferred Revenue",null,null,null,null,null,null,null,null,19,null,{"$f":"'Financial Model'!I42","v":0},{"$f":"'Financial Model'!J42","v":0},{"$f":"'Financial Model'!K42","v":0},{"$f":"'Financial Model'!L42","v":0},{"$f":"'Financial Model'!M42","v":795.03},{"$f":"'Financial Model'!N42","v":3036.924},{"$f":"'Financial Model'!O42","v":0},{"$f":"'Financial Model'!P42","v":0},{"$f":"'Financial Model'!Q42","v":0},{"$f":"'Financial Model'!R42","v":0},{"$f":"'Financial Model'!S42","v":0},{"$f":"'Financial Model'!T42","v":0},{"$f":"'Financial Model'!U42","v":0},{"$f":"'Financial Model'!V42","v":0},{"$f":"'Financial Model'!W42","v":0}]
[null,"Total Revenues",null,null,null,null,null,null,null,null,19,null,{"$f":"M124","v":97750},{"$f":"N124","v":200109},305530,373683,424541,455901.6,0,0,0,0,0,0,0,0,0]
[null,"Deferred Revenue Percent",null,null,1,{"$f":"SUMIF($3:$3,TRUE,145:145)","v":6.6613585036771096E-3},{"$f":"AVERAGEIF($4:$4,TRUE,145:145)","v":1.4223399705052375E-3},0.01,{"$f":"CHOOSE(E145,F145,G145,H145)","v":6.6613585036771096E-3},true,20,null,{"$f":"IF(M$4,M143/M144,$I145)","v":0},{"$f":"IF(N$4,N143/N144,$I145)","v":0},{"$f":"IF(O$4,O143/O144,$I145)","v":0},{"$f":"IF(P$4,P143/P144,$I145)","v":0},{"$f":"IF(Q$4,Q143/Q144,$I145)","v":1.8726813193543144E-3},{"$f":"IF(R$4,R143/R144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(S$4,S143/S144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(T$4,T143/T144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(U$4,U143/U144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(V$4,V143/V144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(W$4,W143/W144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(X$4,X143/X144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(Y$4,Y143/Y144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(Z$4,Z143/Z144,$I145)","v":6.6613585036771096E-3},{"$f":"IF(AA$4,AA143/AA144,$I145)","v":6.6613585036771096E-3}]
[null,null,null,null,null,null,null,null,null,null,20]
["Other Assets and Liabilities",null,null,null,null,null,null,null,null,null,20]
[null,"Aircraft Held for Sale",null,null,null,null,null,null,null,null,20,null,{"$f":"IF(M4,'Financial Model'!I14,L148)","v":0},{"$f":"IF(N4,'Financial Model'!J14,M148)","v":0},{"$f":"IF(O4,'Financial Model'!K14,N148)","v":0},{"$f":"IF(P4,'Financial Model'!L14,O148)","v":6593.0690000000004},{"$f":"IF(Q4,'Financial Model'!M14,P148)","v":6117.2659999999996},{"$f":"IF(R4,'Financial Model'!N14,Q148)","v":5346.4530000000004},{"$f":"IF(S4,'Financial Model'!O14,R148)","v":5346.4530000000004},{"$f":"IF(T4,'Financial Model'!P14,S148)","v":5346.4530000000004},{"$f":"IF(U4,'Financial Model'!Q14,T148)","v":5346.4530000000004},{"$f":"IF(V4,'Financial Model'!R14,U148)","v":5346.4530000000004},{"$f":"IF(W4,'Financial Model'!S14,V148)","v":5346.4530000000004},{"$f":"IF(X4,'Financial Model'!T14,W148)","v":5346.4530000000004},{"$f":"IF(Y4,'Financial Model'!U14,X148)","v":5346.4530000000004},{"$f":"IF(Z4,'Financial Model'!V14,Y148)","v":5346.4530000000004},{"$f":"IF(AA4,'Financial Model'!W14,Z148)","v":5346.4530000000004}]
[null,"Notes Receivable",null,null,null,null,null,null,null,null,20,null,{"$f":"IF(M4,'Financial Model'!I17+'Financial Model'!I31+'Financial Model'!I32,L149)","v":0},{"$f":"IF(N4,'Financial Model'!J17+'Financial Model'!J31+'Financial Model'!J32,M149)","v":0},{"$f":"IF(O4,'Financial Model'!K17+'Financial Model'!K31+'Financial Model'!K32,N149)","v":0},{"$f":"IF(P4,'Financial Model'!L17+'Financial Model'!L31+'Financial Model'!L32,O149)","v":371.053},{"$f":"IF(Q4,'Financial Model'!M17+'Financial Model'!M31+'Financial Model'!M32,P149)","v":317.89},{"$f":"IF(R4,'Financial Model'!N17+'Financial Model'!N31+'Financial Model'!N32,Q149)","v":878.08799999999997},{"$f":"IF(S4,'Financial Model'!O17+'Financial Model'!O31+'Financial Model'!O32,R149)","v":878.08799999999997},{"$f":"IF(T4,'Financial Model'!P17+'Financial Model'!P31+'Financial Model'!P32,S149)","v":878.08799999999997},{"$f":"IF(U4,'Financial Model'!Q17+'Financial Model'!Q31+'Financial Model'!Q32,T149)","v":878.08799999999997},{"$f":"IF(V4,'Financial Model'!R17+'Financial Model'!R31+'Financial Model'!R32,U149)","v":878.08799999999997},{"$f":"IF(W4,'Financial Model'!S17+'Financial Model'!S31+'Financial Model'!S32,V149)","v":878.08799999999997},{"$f":"IF(X4,'Financial Model'!T17+'Financial Model'!T31+'Financial Model'!T32,W149)","v":878.08799999999997},{"$f":"IF(Y4,'Financial Model'!U17+'Financial Model'!U31+'Financial Model'!U32,X149)","v":878.08799999999997},{"$f":"IF(Z4,'Financial Model'!V17+'Financial Model'!V31+'Financial Model'!V32,Y149)","v":878.08799999999997},{"$f":"IF(AA4,'Financial Model'!W17+'Financial Model'!W31+'Financial Model'!W32,Z149)","v":878.08799999999997}]
[null,null,"Total Other Assets",null,null,null,null,null,null,null,20,null,{"$f":"IF(M4,SUM(M148:M149))","v":0},{"$f":"SUM(N148:N149)","v":0},0,6964.1220000000003,6435.1559999999999,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002,6224.5410000000002]
[null,null,null,null,null,null,null,null,null,null,20]
[null,"Deferred Gain on Sale",null,null,null,null,null,null,null,null,20,null,{"$f":"IF(M4,'Financial Model'!I41,L152)","v":0},{"$f":"IF(N4,'Financial Model'!J41,M152)","v":0},{"$f":"IF(O4,'Financial Model'!K41,N152)","v":0},{"$f":"IF(P4,'Financial Model'!L41,O152)","v":0},{"$f":"IF(Q4,'Financial Model'!M41,P152)","v":0},{"$f":"IF(R4,'Financial Model'!N41,Q152)","v":30255.291000000001},{"$f":"IF(S4,'Financial Model'!O41,R152)","v":30255.291000000001},{"$f":"IF(T4,'Financial Model'!P41,S152)","v":30255.291000000001},{"$f":"IF(U4,'Financial Model'!Q41,T152)","v":30255.291000000001},{"$f":"IF(V4,'Financial Model'!R41,U152)","v":30255.291000000001},{"$f":"IF(W4,'Financial Model'!S41,V152)","v":30255.291000000001},{"$f":"IF(X4,'Financial Model'!T41,W152)","v":30255.291000000001},{"$f":"IF(Y4,'Financial Model'!U41,X152)","v":30255.291000000001},{"$f":"IF(Z4,'Financial Model'!V41,Y152)","v":30255.291000000001},{"$f":"IF(AA4,'Financial Model'!W41,Z152)","v":30255.291000000001}]
[null,null,null,null,null,null,null,null,null,null,20]
[null,"Restricted Cash",null,null,1,{"$f":"SUMIF($3:$3,TRUE,154:154)","v":14036.924000000001},{"$f":"AVERAGEIF($4:$4,TRUE,154:154)","v":2471.9923333333336},0,{"$f":"CHOOSE(E154,F154,G154,H154)","v":14036.924000000001},true,21,null,{"$f":"IF(M4,'Financial Model'!I10,$I$154)","v":0},{"$f":"IF(N4,'Financial Model'!J10,$I$154)","v":0},{"$f":"IF(O4,'Financial Model'!K10,$I$154)","v":0},{"$f":"IF(P4,'Financial Model'!L10,$I$154)","v":0},{"$f":"IF(Q4,'Financial Model'!M10,$I$154)","v":795.03},{"$f":"IF(R4,'Financial Model'!N10,$I$154)","v":14036.924000000001},{"$f":"IF(S4,'Financial Model'!O10,$I$154)","v":14036.924000000001},{"$f":"IF(T4,'Financial Model'!P10,$I$154)","v":14036.924000000001},{"$f":"IF(U4,'Financial Model'!Q10,$I$154)","v":14036.924000000001},{"$f":"IF(V4,'Financial Model'!R10,$I$154)","v":14036.924000000001},{"$f":"IF(W4,'Financial Model'!S10,$I$154)","v":14036.924000000001},{"$f":"IF(X4,'Financial Model'!T10,$I$154)","v":14036.924000000001},{"$f":"IF(Y4,'Financial Model'!U10,$I$154)","v":14036.924000000001},{"$f":"IF(Z4,'Financial Model'!V10,$I$154)","v":14036.924000000001},{"$f":"IF(AA4,'Financial Model'!W10,$I$154)","v":14036.924000000001}]
[null,null,null,null,null,null,null,null,null,null,21]
[null,"Other Income",null,null,3,{"$f":"SUMIF($3:$3,TRUE,156:156)","v":-103},{"$f":"AVERAGEIF($4:$4,TRUE,156:156)","v":4714},0,{"$f":"CHOOSE(E156,F156,G156,H156)","v":0},true,22,null,{"$f":"IF(M4,SUM('Financial Model'!I76:I79),$I$156)","v":2900},{"$f":"IF(N4,SUM('Financial Model'!J76:J79),$I$156)","v":1524},{"$f":"IF(O4,SUM('Financial Model'!K76:K79),$I$156)","v":2840},{"$f":"IF(P4,SUM('Financial Model'!L76:L79),$I$156)","v":19856},{"$f":"IF(Q4,SUM('Financial Model'!M76:M79),$I$156)","v":1267},{"$f":"IF(R4,SUM('Financial Model'!N76:N79),$I$156)","v":-103},{"$f":"IF(S4,SUM('Financial Model'!O76:O79),$I$156)","v":0},{"$f":"IF(T4,SUM('Financial Model'!P76:P79),$I$156)","v":0},{"$f":"IF(U4,SUM('Financial Model'!Q76:Q79),$I$156)","v":0},{"$f":"IF(V4,SUM('Financial Model'!R76:R79),$I$156)","v":0},{"$f":"IF(W4,SUM('Financial Model'!S76:S79),$I$156)","v":0},{"$f":"IF(X4,SUM('Financial Model'!T76:T79),$I$156)","v":0},{"$f":"IF(Y4,SUM('Financial Model'!U76:U79),$I$156)","v":0},{"$f":"IF(Z4,SUM('Financial Model'!V76:V79),$I$156)","v":0},{"$f":"IF(AA4,SUM('Financial Model'!W76:W79),$I$156)","v":0}]
[null,null,null,null,null,null,null,null,null,null,22]
["Cash, Debt and Minority Interest",null,null,null,null,null,null,null,null,null,22]
[null,"Cash Balance",null,null,null,null,null,null,null,null,22,null,{"$f":"'Financial Model'!I9","v":1000},{"$f":"'Financial Model'!J9","v":1000},{"$f":"'Financial Model'!K9","v":1000},{"$f":"'Financial Model'!L9","v":1091.96},{"$f":"'Financial Model'!M9","v":2324.3530000000001},{"$f":"'Financial Model'!N9","v":3282.1419999999998},{"$f":"'Financial Model'!O9","v":0},{"$f":"'Financial Model'!P9","v":0},{"$f":"'Financial Model'!Q9","v":0},{"$f":"'Financial Model'!R9","v":0},{"$f":"'Financial Model'!S9","v":0},{"$f":"'Financial Model'!T9","v":0},{"$f":"'Financial Model'!U9","v":0},{"$f":"'Financial Model'!V9","v":0},{"$f":"'Financial Model'!W9","v":0}]
[null,"Restricted Cash",null,null,null,null,null,null,null,null,22,null,{"$f":"'Financial Model'!I10","v":0},{"$f":"'Financial Model'!J10","v":0},{"$f":"'Financial Model'!K10","v":0},{"$f":"'Financial Model'!L10","v":0},{"$f":"'Financial Model'!M10","v":795.03},{"$f":"'Financial Model'!N10","v":14036.924000000001},{"$f":"'Financial Model'!O10","v":0},{"$f":"'Financial Model'!P10","v":0},{"$f":"'Financial Model'!Q10","v":0},{"$f":"'Financial Model'!R10","v":0},{"$f":"'Financial Model'!S10","v":0},{"$f":"'Financial Model'!T10","v":0},{"$f":"'Financial Model'!U10","v":0},{"$f":"'Financial Model'!V10","v":0},{"$f":"'Financial Model'!W10","v":0}]
[null,"Total",null,null,null,null,null,null,null,null,22,null,{"$f":"SUM(M159:M160)","v":1000},{"$f":"SUM(N159:N160)","v":1000},1000,1091.96,3119.3829999999998,17319.065999999999,0,0,0,0,0,0,0,0,0]
[null,"Average",null,null,null,null,null,null,null,null,22,null,{"$f":"AVERAGE(L161:M161)","v":1000},{"$f":"AVERAGE(M161:N161)","v":1000},1000,1045.98,2105.6714999999999,10219.2245,8659.5329999999994,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,22]
[null,"Interest Income",null,null,null,null,null,null,null,null,22,null,{"$f":"'Financial Model'!I75","v":0},{"$f":"'Financial Model'!J75","v":36},{"$f":"'Financial Model'!K75","v":113},{"$f":"'Financial Model'!L75","v":315},{"$f":"'Financial Model'!M75","v":379},{"$f":"'Financial Model'!N75","v":349},{"$f":"'Financial Model'!O75","v":0},{"$f":"'Financial Model'!P75","v":0},{"$f":"'Financial Model'!Q75","v":0},{"$f":"'Financial Model'!R75","v":0},{"$f":"'Financial Model'!S75","v":0},{"$f":"'Financial Model'!T75","v":0},{"$f":"'Financial Model'!U75","v":0},{"$f":"'Financial Model'!V75","v":0},{"$f":"'Financial Model'!W75","v":0}]
[null,"Interest Income Rate",null,null,3,{"$f":"SUMIF($3:$3,TRUE,165:165)","v":4.781184717098641E-2},{"$f":"AVERAGEIF($4:$4,TRUE,165:165)","v":0.11299248692669274},9.5000000000000001E-2,0.03,true,23,null,{"$f":"IF(M$4,M164/M162,$I$165)","v":0},{"$f":"IF(N$4,N164/N162,$I$165)","v":3.5999999999999997E-2},{"$f":"IF(O$4,O164/O162,$I$165)","v":0.113},{"$f":"IF(P$4,P164/P162,$I$165)","v":0.30115298571674409},{"$f":"IF(Q$4,Q164/Q162,$I$165)","v":0.17999008867242589},{"$f":"IF(R$4,R164/R162/R2,$I$165)","v":4.781184717098641E-2},{"$f":"IF(S$4,S164/S162,$I$165)","v":0.03},0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03]
[null,null,null,null,null,null,null,null,null,null,23]
[null,"Total Debt",null,null,null,null,null,null,null,null,23,null,{"$f":"'Financial Model'!I56","v":80010},{"$f":"'Financial Model'!J56","v":84936},{"$f":"'Financial Model'!K56","v":137405},{"$f":"'Financial Model'!L56","v":220471.59299999999},{"$f":"'Financial Model'!M56","v":238350.842},{"$f":"'Financial Model'!N56","v":255092.98099999997},{"$f":"'Financial Model'!O56","v":0},{"$f":"'Financial Model'!P56","v":0},{"$f":"'Financial Model'!Q56","v":0},{"$f":"'Financial Model'!R56","v":0},{"$f":"'Financial Model'!S56","v":0},{"$f":"'Financial Model'!T56","v":0},{"$f":"'Financial Model'!U56","v":0},{"$f":"'Financial Model'!V56","v":0},{"$f":"'Financial Model'!W56","v":0}]
[null,"Average",null,null,null,null,null,null,null,null,23,null,{"$f":"AVERAGE(L167:M167)","v":80010},{"$f":"AVERAGE(M167:N167)","v":82473},111170.5,178938.2965,229411.2175,246721.91149999999,127546.49049999999,0,0,0,0,0,0,0,0]
[null,null,null,null,null,null,null,null,null,null,23]
[null,"Interest Expense",null,null,null,null,null,null,null,null,23,null,{"$f":"-'Financial Model'!I74","v":4396},{"$f":"-'Financial Model'!J74","v":6781},{"$f":"-'Financial Model'!K74","v":8121},{"$f":"-'Financial Model'!L74","v":15064},{"$f":"-'Financial Model'!M74","v":22012},{"$f":"-'Financial Model'!N74","v":20089},{"$f":"-'Financial Model'!O74","v":0},{"$f":"-'Financial Model'!P74","v":0},{"$f":"-'Financial Model'!Q74","v":0},{"$f":"-'Financial Model'!R74","v":0},{"$f":"-'Financial Model'!S74","v":0},{"$f":"-'Financial Model'!T74","v":0},{"$f":"-'Financial Model'!U74","v":0},{"$f":"-'Financial Model'!V74","v":0},{"$f":"-'Financial Model'!W74","v":0}]
[null,"Interest Expense Rate",null,null,3,{"$f":"SUMIF($3:$3,TRUE,171:171)","v":0.11399311811833138},{"$f":"AVERAGEIF($4:$4,TRUE,171:171)","v":8.4057078309078839E-2},{"$f":"'Scenario Analysis'!O29","v":8.5000000000000006E-2},{"$f":"CHOOSE(E171,F171,G171,H171)","v":8.5000000000000006E-2},true,24,null,{"$f":"IF(M$4,M170/M168,$I$171)","v":5.4943132108486441E-2},{"$f":"IF(N$4,N170/N168,$I$171)","v":8.2220848035114522E-2},{"$f":"IF(O$4,O170/O168,$I$171)","v":7.304995479915985E-2},{"$f":"IF(P$4,P170/P168,$I$171)","v":8.4185444338350457E-2},{"$f":"IF(Q$4,Q170/Q168,$I$171)","v":9.5949972455030452E-2},{"$f":"IF(R$4,R170/R168/R2,$I$171)","v":0.11399311811833138},{"$f":"IF(S$4,S170/S168,$I$171)","v":8.5000000000000006E-2},8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2]
[null,null,null,null,null,null,null,null,null,null,24]
[null,"Minority Interest Balance",null,null,null,null,null,null,null,null,24,null,{"$f":"'Financial Model'!I52","v":0},{"$f":"'Financial Model'!J52","v":0},{"$f":"'Financial Model'!K52","v":0},{"$f":"'Financial Model'!L52","v":3944.07},{"$f":"'Financial Model'!M52","v":3551.7350000000001},{"$f":"'Financial Model'!N52","v":3572.4369999999999},{"$f":"'Financial Model'!O52","v":0},{"$f":"'Financial Model'!P52","v":0},{"$f":"'Financial Model'!Q52","v":0},{"$f":"'Financial Model'!R52","v":0},{"$f":"'Financial Model'!S52","v":0},{"$f":"'Financial Model'!T52","v":0},{"$f":"'Financial Model'!U52","v":0},{"$f":"'Financial Model'!V52","v":0},{"$f":"'Financial Model'!W52","v":0}]
[null,"Minority Interest Income",null,null,null,null,null,null,null,null,24,null,{"$f":"-'Financial Model'!I82","v":424},{"$f":"-'Financial Model'!J82","v":1458},{"$f":"-'Financial Model'!K82","v":2758},{"$f":"-'Financial Model'!L82","v":3092},{"$f":"-'Financial Model'!M82","v":1146},{"$f":"-'Financial Model'!N82","v":1859},{"$f":"-'Financial Model'!O82","v":0},{"$f":"-'Financial Model'!P82","v":0},{"$f":"-'Financial Model'!Q82","v":0},{"$f":"-'Financial Model'!R82","v":0},{"$f":"-'Financial Model'!S82","v":0},{"$f":"-'Financial Model'!T82","v":0},{"$f":"-'Financial Model'!U82","v":0},{"$f":"-'Financial Model'!V82","v":0},{"$f":"-'Financial Model'!W82","v":0}]
[null,null,null,null,null,null,null,null,null,null,24]
[null,"Income Before Minority Interest",null,null,null,null,null,null,null,null,24,null,{"$f":"'Financial Model'!I81","v":5585},{"$f":"'Financial Model'!J81","v":18001},{"$f":"'Financial Model'!K81","v":33351},{"$f":"'Financial Model'!L81","v":7578},{"$f":"'Financial Model'!M81","v":1129},{"$f":"'Financial Model'!N81","v":-28883},{"$f":"'Financial Model'!O81","v":0},{"$f":"'Financial Model'!P81","v":0},{"$f":"'Financial Model'!Q81","v":0},{"$f":"'Financial Model'!R81","v":0},{"$f":"'Financial Model'!S81","v":0},{"$f":"'Financial Model'!T81","v":0},{"$f":"'Financial Model'!U81","v":0},{"$f":"'Financial Model'!V81","v":0},{"$f":"'Financial Model'!W81","v":0}]
[null,"Minority Interest Rate",null,null,3,{"$f":"SUMIF($3:$3,TRUE,177:177)","v":-6.4363120174497107E-2},{"$f":"AVERAGEIF($4:$4,TRUE,177:177)","v":0.26638783097168878},7.0000000000000007E-2,{"$f":"CHOOSE(E177,F177,G177,H177)","v":7.0000000000000007E-2},true,25,null,{"$f":"IF(M4,M174/M176,$I$177)","v":7.5917636526410023E-2},8.0995500249986113E-2,8.2696171029354448E-2,0.40802322512536288,1.0150575730735163,-6.4363120174497107E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2]
[null,null,null,null,null,null,null,null,null,null,25]
[null,"Cash as Percent of Revenues",null,null,3,{"$f":"SUMIF($3:$3,TRUE,179:179)","v":7.1992333433354913E-3},{"$f":"AVERAGEIF($4:$4,TRUE,179:179)","v":5.6828041124913813E-3},5.0000000000000001E-3,{"$f":"CHOOSE(E179,F179,G179,H179)","v":5.0000000000000001E-3},true,26,null,{"$f":"IF(M4,M159/M124,$I$179)","v":1.0230179028132993E-2},4.9972764843160475E-3,3.2730010146303145E-3,2.9221559450122165E-3,5.4749788595212243E-3,7.1992333433354913E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3]
[]
["Existing Debt Financing"]
[null,"Initial Debt",null,null,250000]
[null,"Repayment Years",null,null,6]
[null,"Repayment Amount",null,null,{"$f":"E182/E183","v":41666.666666666664}]
[null,"Interest Rate",null,null,{"$f":"'Scenario Analysis'!O29","v":8.5000000000000006E-2}]
[null,"Date of Issue",null,null,1997]
[]
[]
[]
[]
[]
[]
[]
[]
[]
["Graph Data",null,null,null,"Number","Row"]
[null,null,null,{"$f":"INDEX(B:B,F197)&INDEX(C:C,F197)&INDEX(D:D,F197)","v":"Net Capacity"},1,{"$f":"MATCH(E197,K:K,0)","v":18},null,null,null,null,null,null,{"$f":"INDEX(M:M,$F197)","v":0},0,0,0,0,5222986.666666667,5222986.666666667,5713114.9002858838,5717164.7373289093,5469719.5580762373,5197529.8608982973,4898121.1940025641,4568771.6604172569,4206487.1734734196,3807974.2378351982]
[null,null,null,"Flight Hours",2,20,null,null,null,null,null,null,39404,55220,76346,84058,91690,70721,28288.399999999998,108300.50208980656,108377.27271192719,103686.58512372104,98526.828776694267,92851.096794964833,86607.791615062451,79740.155917169832,72185.756649487957]
[null,null,null,"Freight Revenues",3,31,null,null,null,null,null,null,95144,194525,298081,359404,388193,302345,0,0,0,0,0,0,0,0,0]
[null,null,null,"Price per lb Applied",4,42,null,null,null,null,null,null,0,0,0,0,0,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573,81.042328271946573]
[null,null,null,"Revenues ",5,43,null,null,null,null,null,null,95144,194525,298081,359404,388193,302345,120938,463004.13320431794,463332.34142740665,443278.80798110098,421219.92119016463,396955.14572013466,370263.89270310174,340903.51438436558,308607.09823375574]
[null,null,null,"Revenues per Flight Hour",6,44,null,null,null,null,null,null,2.4145772002842349,3.5227272727272729,3.9043433840672725,4.2756668014942063,4.2337550441705751,4.2751799324104578,4.2751799324104587,4.2751799324104587,4.2751799324104578,4.2751799324104587,4.2751799324104587,4.2751799324104578,4.2751799324104578,4.2751799324104587,4.2751799324104587]
[null,null,null,"Escalated Revenues",7,50,null,null,null,null,null,null,2606,5584,7449,14279,36348,23299,11206.080930073318,40005.708920361751,40805.823098768989,41621.939560744366,42454.378351959262,43303.465918998452,44169.535237378419,45052.925942125992,45953.984460968517]
[null,null,null,"Flight per Hour - Company Case",8,60,null,null,null,null,null,null,0.94556390214191455,1.1386635277073525,1.5143425981714824,2.0078398248828191,1.6387392300141783,1.7845901500261592,1.7845901500261592,1.4,1.25,1.25,1.25,1.25,1.25,1.25,1.25]
[null,null,null,"Maint per Hour  - Company",9,70,null,null,null,null,null,null,0.5612120596893716,0.94047446577327054,0.8477457889083907,1.2299721620785649,1.2551205147780564,1.5190961666266032,1.5190961666266032,1.2,1.1000000000000001,1,1,1,1,1,1]
[null,null,null,"Fuel per Hour - Base Case",10,80,null,null,null,null,null,null,0.41894223936656177,0.69818906193408181,0.75134257197495613,0.64881391420209855,0.90213763769222377,0.7790472419790444,0.7790472419790444,0.79462818681862535,0.81052075055499784,0.82673116556609783,0.84326578887741976,0.86013110465496823,0.87733372674806764,0.89488040128302904,0.91277800930868969]
[null,null,null,"SG&A per Revenue - Company",11,90,null,null,null,null,null,null,{"$f":"INDEX(M:M,$F207)","v":4.447994618683259E-2},4.9114509703122991E-2,4.4528165163160348E-2,6.0310959254766226E-2,5.6386900330505703E-2,5.9031900643304831E-2,5.9031900643304831E-2,5.3999999999999999E-2,0.05,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2,4.4999999999999998E-2]
[null,null,null,"Per Revenue",12,93,null,null,null,null,null,null,1.6364668292272764E-2,7.9527053078010546E-3,7.4845427920598763E-3,5.1807993233241702E-3,2.6043746280844837E-3,5.4011146207147464E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3]
[null,null,null,"Company Case Maintenance Expenditures",13,104,null,null,null,null,null,null,0,0,0,0,0,0,21803.599999999995,25000,25000,25000,20000,20000,20000,20000,20000]
[null,null,null,"Gross Plant Depreciation Rate",14,114,null,null,null,null,null,null,7.6721087855407308E-2,9.7735605595682076E-2,6.0955853465818548E-2,6.8071324219494453E-2,8.5870432539090033E-2,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256,0.10226361236761256]
[null,null,null,"A/R Percent",15,125,null,null,null,null,null,null,5.6040920716112531E-2,0.17903742460359104,0.14702320557719373,0.24797511259543517,0.16498265891869102,0.14512667207134172,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15,0.15]
[null,null,null,"Inventory Percent of Total Expense",16,129,null,null,null,null,null,null,0,0,0,3.5206869575148465E-2,5.591551535900581E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2,5.7066551657650108E-2]
[null,null,null,"Pre-Paid Pct of Revenue",17,133,null,null,null,null,null,null,0,0,0,2.4069676704586509E-2,3.2614800455079723E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2,3.1422510910249057E-2]
[null,null,null,"Accounts Payable Percent of Op Cost",18,137,null,null,null,null,null,null,0,0,0,0.19000220134764734,0.12440236686390532,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213,0.11563997326550213]
[null,null,null,"Accrued Expenses Percent of Op Cost",19,141,null,null,null,null,null,null,0.15574874494918575,0.1977806828200529,0.22889629623778643,5.8082994518044773E-2,6.5163922847784772E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2,5.3231469859727321E-2]
[null,null,null,"Deferred Revenue Percent",20,145,null,null,null,null,null,null,0,0,0,0,1.8726813193543144E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3,6.6613585036771096E-3]
[null,null,null,"Restricted Cash",21,154,null,null,null,null,null,null,{"$f":"INDEX(M:M,$F217)","v":0},0,0,0,795.03,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001]
[null,null,null,"Other Income",22,156,null,null,null,null,null,null,2900,1524,2840,19856,1267,-103,0,0,0,0,0,0,0,0,0]
[null,null,null,"Interest Income Rate",23,165,null,null,null,null,null,null,0,3.5999999999999997E-2,0.113,0.30115298571674409,0.17999008867242589,4.781184717098641E-2,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03,0.03]
[null,null,null,"Interest Expense Rate",24,171,null,null,null,null,null,null,5.4943132108486441E-2,8.2220848035114522E-2,7.304995479915985E-2,8.4185444338350457E-2,9.5949972455030452E-2,0.11399311811833138,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2,8.5000000000000006E-2]
[null,null,null,"Minority Interest Rate",25,177,null,null,null,null,null,null,7.5917636526410023E-2,8.0995500249986113E-2,8.2696171029354448E-2,0.40802322512536288,1.0150575730735163,-6.4363120174497107E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2]
[null,null,null,"Cash as Percent of Revenues",26,179,null,null,null,null,null,null,1.0230179028132993E-2,4.9972764843160475E-3,3.2730010146303145E-3,2.9221559450122165E-3,5.4749788595212243E-3,7.1992333433354913E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3,5.0000000000000001E-3]
[null,null,null,{"$error":"#N/A"},27,{"$error":"#N/A"},null,null,null,null,null,null,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,{"$error":"#N/A"},28,{"$error":"#N/A"},null,null,null,null,null,null,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,{"$error":"#N/A"},29,{"$error":"#N/A"},null,null,null,null,null,null,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,{"$error":"#N/A"},30,{"$error":"#N/A"},null,null,null,null,null,null,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[]
[]
[null,"Code Number",null,null,5]
[]
[null,null,null,{"$f":"INDEX(D197:D226,$E$229)","v":"Revenues "},null,null,null,null,null,null,null,null,{"$f":"INDEX(M197:M226,$E$229)","v":95144},{"$f":"INDEX(N197:N226,$E$229)","v":194525},298081,359404,388193,302345,120938,463004.13320431794,463332.34142740665,443278.80798110098,421219.92119016463,396955.14572013466,370263.89270310174,340903.51438436558,308607.09823375574]
[null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"M1","v":1992},1993,1994,1995,1996,1997,1997,1998,1999,2000,2001,2002,2003,2004,2005]
[null,null,null,"History",null,null,null,null,null,null,null,null,{"$f":"IF(M4,M231)","v":95144},194525,298081,359404,388193,302345,false,false,false,false,false,false,false,false,false]
[null,null,null,"Forecast",null,null,null,null,null,null,null,null,{"$f":"IF(NOT(M4),M231)","v":false},false,false,false,false,false,120938,463004.13320431794,463332.34142740665,443278.80798110098,421219.92119016463,396955.14572013466,370263.89270310174,340903.51438436558,308607.09823375574]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
["     The pro forma results have not been adjusted to eliminate abnormally high"]
["engine overhaul expenses associated with responding to certain Directives, costs"]
["incurred to add and maintain flight crews in anticipation of increased air"]
["freight carrier business which has not yet materialized in part due to delays in"]
["acquiring aircraft and start-up costs associated with establishing the Kalitta"]
["Companies' wide-body passenger charter business. In addition, although"]
[]
["     The Kalitta Companies' operations constitute a majority of the combined"]
["operations of the Company. For 1996 and the first nine months of 1997, the"]
["financial operating results of the Kalitta Companies have shown a significant"]
["negative trend. In 1996, the Kalitta Companies reported a small net loss. For"]
["the first nine months of 1997, the Kalitta Companies sustained an operating loss"]
["of $9 million and a net loss of $30.7 million and for the first six months of"]
["1997, the Kalitta Companies sustained a negative gross profit of $7.5 million."]
["In addition, based on preliminary unaudited financial information, during the"]
["period October 1, 1997 through November 18, 1997 (the day immediately preceeding"]
["the consummation of the Merger), the Kalitta Companies posted net losses of $9.1"]
["million. The Kalitta Companies' management believes that the recent negative"]
["financial performance can be attributed to a number of factors, including (i)"]
["the incurrence of abnormally high jet engine overhaul expenses resulting from"]
["the Kalitta Companies compliance with a series of Directives issued in early"]
["1996, (ii) beginning in January 1996, the loss of revenues resulting from the"]
["effective grounding of two Boeing 747s pursuant to a series of Directives, (iii)"]
["the incurrence principally in 1997 of start-up costs associated with"]
["establishing the Kalitta Companies' large aircraft passenger charter business,"]
["(iv) the incurrence of costs to add and maintain flight crews in anticipation of"]
["increased air carrier business which has not yet materialized in part due to"]
["delays in acquiring aircraft and (v) a decline in revenues from the U.S."]
["Military resulting from a decrease in the air freight-only charter requirements"]
["of the U.S. Military and an increase in competition for that business. See"]

{"sheet":"Financial Model","index":4,"n_rows":386,"n_cols":23,"rows_kept":386,"cut":false,"hidden":false,"merged":[]}
["Timing"]
[null,"Year",null,null,null,null,null,null,1992,1993,1994,1995,1996,1997,{"$f":"N2","v":1997},{"$f":"O2+1","v":1998},{"$f":"P2+1","v":1999},2000,2001,2002,2003,2004,2005]
[null,"Months",null,null,null,null,null,null,12,12,12,12,12,9,3,12,12,12,12,12,12,12,12]
[null,"Annualisation Factor",null,null,null,null,null,null,1,1,1,1,1,{"$f":"1/1.4","v":0.7142857142857143},{"$f":"1-N4","v":0.2857142857142857},1,1,1,1,1,1,1,1]
[null,"Historic Switch",null,null,"Debt ","IC Cap","IC Dir","Test",true,true,true,true,true,true,false,false,false,false,false,false,false,false,false]
["Historic Financial Statements"]
[null,"Balance Sheet"]
[null,null," CURRENT ASSETS:                                "]
[null,null,null,"  Cash                                ",null,null,null,null,1000,1000,1000,1091.96,2324.3530000000001,3282.1419999999998]
[null,null,null,"  Restricted cash                               ",null,null,null,null,null,null,null,0,795.03,14036.924000000001]
[null,null,null,"  Accounts receivable, net (Notes 1 and 3)                          ",null,null,null,null,5478,35827,44920,88273.823000000004,67081.125,64908.684000000001]
[null,null,null,"  Accounts receivable 0 related parties                            ",null,null,null,null,null,null,null,4390.2610000000004,2960.7779999999998,1254.798]
[null,null,null,"  Expendable parts and supplies                             ",null,null,null,null,null,null,null,12330.853999999999,20742.14,24624.353999999999]
[null,null,null,"  Aircraft held for resale (Note 4)                           ",null,null,null,null,null,null,null,6593.0690000000004,6117.2659999999996,5346.4530000000004]
[null,null,null,"  Deposits, prepaid expenses and other assets                           ",null,null,null,null,null,null,null,4914.0559999999996,8018.2730000000001,7326.0079999999998]
[null,null,null,"  Prepaid fuel                               ",null,null,null,null,null,null,null,4080.373,5828.0469999999996,6999.5649999999996]
[null,null,null,"  Notes receivable, current                              ",null,null,null,null,null,null,null,186.08500000000001,186.08500000000001,100.804]
[null,null,null,"  Total current assets                              ",null,null,null,null,null,null,null,121860.48100000003,114053.09700000002,127879.732]
[null,null,null," PROPERTY AND EQUIPMENT:                               ",null,null,null,null,null,null,null,0,0,0]
[null,null,null,"  Land and improvements                              ",null,null,null,null,null,null,null,228.678,228.678,228.678]
[null,null,null,"  Building and leasehold improvements (Note 4)                           ",null,null,null,null,null,null,null,9347.8250000000007,12752.356,14363.227999999999]
[null,null,null,"  Rotable parts (Note 3)                             ",null,null,null,null,null,null,null,14560.287,16779.385999999999,17661.392]
[null,null,null,"  Equipment (Note 3)                              ",null,null,null,null,null,null,null,19685.441999999999,23677.64,26317.511999999999]
[null,null,null,"  Aircraft (Note 3)                              ",null,null,null,null,null,null,null,264266.38299999997,320276.14,303778.995]
[null,null,null,"  Total                                ",null,null,null,null,117295,127098,226541,308088.61499999999,373714.2,362349.80499999999]
[null,null,null,"  Less accumulated depreciation                              ",null,null,null,null,null,null,null,81246.880999999994,109707.512,113883.56]
[null,null,null,"  Net                                ",null,null,null,null,117295,127098,226541,226841.734,264006.68800000002,248466.245]
[null,null,null,"  Aircraft in modification (Note 3)                            ",null,null,null,null,null,null,null,25557.078000000001,988.54100000000005,21925.585999999999]
[null,null,null,"  Construction in progress                              ",null,null,null,null,null,null,null,3152.56,923.15,1427.3610000000001]
[null,null,null,"  Total property and equipment, net                            ",null,null,null,null,null,null,null,255551.372,265918.37900000007,271819.19199999998]
[null,null,null," NOTES RECEIVABLE, LESS CURRENT PORTION                             ",null,null,null,null,null,null,null,184.96799999999999,131.80500000000001,0]
[null,null,null," RECEIVABLE FROM AFFILIATED COMPANY                              ",null,null,null,null,null,null,null,0,0,777.28399999999999]
[null,null,null," TOTAL ASSETS (Notes 3 and 4)                            ",null,null,null,null,123773,163925,272461,377596.821,380103.28100000008,400476.20799999998]
[null,null,null,"                                  "]
[null,"LIABILITIES AND STOCKHOLDER'S EQUITY                             ",null,null,null,null,null,null,null,null,null,6779.1540000000005,6303.3509999999997,6224.5410000000002]
[null,null," CURRENT LIABILITIES:                                "]
[null,null,null,"  Accounts payable:                               "]
[null,null,null,"  Trade (Note 1)                              ",null,null,null,null,null,null,null,62125.228000000003,46070.23,49898.805]
[null,null,null,"  Related parties                               ",null,null,null,null,null,null,null,4421.143,77.45,0.121]
[null,null,null,"  Accrued liabilities                               ",null,null,null,null,12720,32528,57957,20342.988000000001,24172.883000000002,22969.507000000001]
[null,null,null,"  Deferred gain on sale of aircraft (Note 12)                         ",null,null,null,null,null,null,null,0,0,30255.291000000001]
[null,null,null,"  Deferred revenue                               ",null,null,null,null,null,null,null,0,795.03,3036.924]
[null,null,null,"  Notes payable to bank, reclassified as current (Note 3)                        ",1,null,null,null,null,null,null,0,47105.413,55434.351000000002]
[null,null,null,"  Long term debt, reclassified as current (Note 4)                         ",1,null,null,null,null,null,null,0,155910.954,104623.81200000001]
[null,null,null,"  Notes payable to bank (Note 3)                           ",1,null,null,null,null,null,null,12226.495999999999,1024.0350000000001,2994.8490000000002]
[null,null,null,"  Current maturities of long-term debt (Note 4)                          ",1,null,null,null,null,null,null,42444.612000000001,34310.44,91739.506999999998]
[null,null,null,"  Total current liabilities                              ",0,null,null,null,null,null,null,141560.467,309466.435,360953.16700000002]
[null,null,null," NOTES PAYABLE, NONCURRENT (Note 3)                             ",1,null,null,null,null,null,null,34983,0,0]
[null,null,null," LONG-TERM DEBT, LESS CURRENT PORTION (Note 4)                           ",1,null,null,null,80010,84936,137405,130717.485,0,0]
[null,null,null," NOTE PAYABLE TO STOCKHOLDER (Note 8)                            ",1,null,null,null,null,null,null,100,0,300.46199999999999]
[null,null,null,"  Total liabilities                               ",null,null,null,null,null,null,null,307360.95199999999,309466.435,361253.62900000002]
[null,null,null," MINORITY INTEREST IN AMERICAN INTERNATIONAL CARGO                            ",null,null,null,null,null,null,null,3944.07,3551.7350000000001,3572.4369999999999]
[null,null,null,"  Total stockholder's equity                              ",null,null,null,null,31043,46461,77099,66291.798999999999,67085.111000000004,35650.142]
[null,null,null," TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY                             ",null,null,null,null,123773,163925,272461,377596.821,380103.28100000002,400476.20799999998]
[]
[null,null,null,"Total Debt",null,null,null,null,{"$f":"SUMPRODUCT(I37:I50,$E$37:$E$50)","v":80010},{"$f":"SUMPRODUCT(J37:J50,$E$37:$E$50)","v":84936},137405,220471.59299999999,238350.842,255092.98099999997]
[null,null,null,"Historic Test",null,null,null,null,true,true,true,true,true,true]
[]
[null,"Income Statement"]
[null,null,"Revenue"]
[null,null,null,"Air freight carrier services                             ",null,null,null,null,95144,194525,298081,359404,388193,302345]
[null,null,null,"Maintenance and other(1)                              ",null,null,null,null,2606,5584,7449,14279,36348,23299]
[null,null,null," Total revenues                                ",null,null,null,null,97750,200109,305530,373683,424541,325644]
[null,null,"Operating Costs"]
[null,null,null,"  Flight                                ",null,null,null,null,37259,62877,115614,168775,150256,126208]
[null,null,null,"  Maintenance                                ",null,null,null,null,22114,51933,64722,103389,115082,107432]
[null,null,null,"  Fuel                                ",null,null,null,null,16508,38554,57362,54538,82717,55095]
[null,null,null,"  Depreciation                                ",null,null,null,null,8999,12422,13809,20972,32091,26468]
[null,null,null,"  Selling, general and administrative                             ",null,null,null,null,4232,9554,13273,21676,21889,17848]
[null,null,null,"  Provision for doubtful accounts                             ",null,null,null,null,1557,1547,2231,1862,1011,1633]
[null,null,null,"  Total operating costs and expenses                            ",null,null,null,null,90669,176887,267011,371212,403046,334684]
[null,null,null,"  Income (loss) from operations                             ",null,null,null,null,7081,23222,38519,2471,21495,-9040]
[null,null,"Other Income (Expense)"]
[null,null,null,"  Interest expense                               ",null,null,null,null,-4396,-6781,-8121,-15064,-22012,-20089]
[null,null,null,"  Interest income                               ",null,null,null,null,0,36,113,315,379,349]
[null,null,null,"  Gain on disposition of aircraft held for resale                         ",null,null,null,null,3018,1945,3390,11708,131,624]
[null,null,null,"  Gain on contract termination                             ",null,null,null,null,0,0,0,0,1123,0]
[null,null,null,"  Gain on insurance settlement(3)                             ",null,null,null,null,0,0,0,8148,0,542]
[null,null,null,"  Miscellaneous                                ",null,null,null,null,-118,-421,-550,0,13,-1269]
[null,null,null," Total other income (expense)                              ",null,null,null,null,-1496,-5221,-5168,5107,-20365,-19843]
[null,null,null," Income (loss) before minority interest                             ",null,null,null,null,5585,18001,33351,7578,1129,-28883]
[null,null,null," Minority interest(4)                                ",null,null,null,null,-424,-1458,-2758,-3092,-1146,-1859]
[null,null,null," Net income (loss)(5)                               ",null,null,null,null,5161,16543,30593,4486,-17,-30742]
[]
[null,null,null," Unaudited pro forma net income (loss)(6)                            ",null,null,null,null,3200,10257,18968,2781,-17,-30742]
[null,null,null," OTHER FINANCIAL DATA:                               "]
[null,null,null," Capital expenditures                                ",null,null,null,null,55863,20468,77832,153719,53413,54509]
[null,null,null," Adjusted EBITDA(7)                                ",null,null,null,null,16080,35645,52328,23443,53586,16159]
[null,null,null," Ratio of adjusted EBITDA to total interest                           "]
[null,null,null,"  epense(8)                                ",null,null,null,null,3.7,5.3,6.4,1.6,2.4]
[null,null,null," Ratio of earnings to fied charges(9)                            ",null,null,null,null,2,2.4,3.3,1.2,1]
[null,"Other Data"]
[null,null,null," Working capital (deficit)(10)                               ",null,null,null,null,-6242,4299,-12037,-19700,-195413,-233073]
[null,null,null,"Current Liabilities",null,null,null,null,12720,32528,57957,20342.988000000001,24172.883000000002,22969.507000000001]
[null,null,null,"Current Assets",null,null,null,null,6478,36827,45920,642.98800000000119,-171240.117,-210103.49299999999]
[null,null,null,"Cash Assumed",null,null,null,null,1000,1000,1000,1091.96,2324.3530000000001,3282.1419999999998]
[null,null,null,"Remaining Current Assets",null,null,null,null,5478,35827,44920]
[null,null,null," Total assets                                ",null,null,null,null,123773,163925,272461,377597,380103,400476]
[null,null,null," Total debt                                ",null,null,null,null,80010,84936,137405,220471,238350,255093]
[null,null,null," Stockholder's equity                                ",null,null,null,null,31043,46461,77099,66292,67085,35650]
[]
[null,null," OPERATING DATA:                                "]
[null,null,null," Aircraft under operating leases                              ",null,null,null,null,7,8,4,4,2,2]
[null,null,null," Aircraft owned                                ",null,null,null,null,52,57,82,91,95,84]
[null,null,null," Total aircraft                                ",null,null,null,null,59,65,86,95,97,86]
[null,null,null,"Flight hours(11)                                ",null,null,null,null,39404,55220,76346,84058,91690,70721]
[null,null,null,"                                  "]
["Operating Analysis"]
[null,"Airfreight"]
[null,null,"Capacity of Planes",null,null,null,null,null,null,null,null,null,null,{"$f":"Assumptions!R15*N4","v":3730704.7619047621},{"$f":"Assumptions!S18*'Financial Model'!O4","v":1492281.9047619049},{"$f":"Assumptions!T18*'Financial Model'!P4","v":5713114.9002858838},{"$f":"Assumptions!U18*'Financial Model'!Q4","v":5717164.7373289093},{"$f":"Assumptions!V18*'Financial Model'!R4","v":5469719.5580762373},{"$f":"Assumptions!W18*'Financial Model'!S4","v":5197529.8608982973},{"$f":"Assumptions!X18*'Financial Model'!T4","v":4898121.1940025641},{"$f":"Assumptions!Y18*'Financial Model'!U4","v":4568771.6604172569},{"$f":"Assumptions!Z18*'Financial Model'!V4","v":4206487.1734734196},{"$f":"Assumptions!AA18*'Financial Model'!W4","v":3807974.2378351982}]
[null,null,"Flight Hours",null,null,null,null,null,{"$f":"Assumptions!M20","v":39404},{"$f":"Assumptions!N20","v":55220},{"$f":"Assumptions!O20","v":76346},{"$f":"Assumptions!P20","v":84058},{"$f":"Assumptions!Q20","v":91690},{"$f":"Assumptions!R20","v":70721},{"$f":"Assumptions!S20","v":28288.399999999998},{"$f":"Assumptions!T20","v":108300.50208980656},{"$f":"Assumptions!U20","v":108377.27271192719},{"$f":"Assumptions!V20","v":103686.58512372104},{"$f":"Assumptions!W20","v":98526.828776694267},{"$f":"Assumptions!X20","v":92851.096794964833},{"$f":"Assumptions!Y20","v":86607.791615062451},{"$f":"Assumptions!Z20","v":79740.155917169832},{"$f":"Assumptions!AA20","v":72185.756649487957}]
[]
[null,"Price per Pound",null,null,null,null,null,null,null,null,null,null,null,{"$f":"Assumptions!R42","v":81.042328271946573},{"$f":"Assumptions!S42","v":81.042328271946573},{"$f":"Assumptions!T42","v":81.042328271946573},{"$f":"Assumptions!U42","v":81.042328271946573},{"$f":"Assumptions!V42","v":81.042328271946573},{"$f":"Assumptions!W42","v":81.042328271946573},{"$f":"Assumptions!X42","v":81.042328271946573},{"$f":"Assumptions!Y42","v":81.042328271946573},{"$f":"Assumptions!Z42","v":81.042328271946573},{"$f":"Assumptions!AA42","v":81.042328271946573}]
[]
[null,"Air Transport Revenues",null,null,null,null,null,null,{"$f":"IF(I5,I61,I110*I113/1000)","v":95144},194525,298081,359404,388193,302345,120938,463004.13320431794,463332.34142740665,443278.80798110098,421219.92119016463,396955.14572013466,370263.89270310174,340903.51438436558,308607.09823375574]
[null,"Maintenance Revenues",null,null,null,null,null,null,{"$f":"Assumptions!M50","v":2606},{"$f":"Assumptions!N50","v":5584},{"$f":"Assumptions!O50","v":7449},{"$f":"Assumptions!P50","v":14279},{"$f":"Assumptions!Q50","v":36348},{"$f":"Assumptions!R50","v":23299},{"$f":"Assumptions!S50","v":11206.080930073318},{"$f":"Assumptions!T50","v":40005.708920361751},{"$f":"Assumptions!U50","v":40805.823098768989},{"$f":"Assumptions!V50","v":41621.939560744366},{"$f":"Assumptions!W50","v":42454.378351959262},{"$f":"Assumptions!X50","v":43303.465918998452},{"$f":"Assumptions!Y50","v":44169.535237378419},{"$f":"Assumptions!Z50","v":45052.925942125992},{"$f":"Assumptions!AA50","v":45953.984460968517}]
[null,null,"Total Revenues",null,null,null,null,null,{"$f":"SUM(I115:I116)","v":97750},{"$f":"SUM(J115:J116)","v":200109},305530,373683,424541,325644,132144.08093007331,503009.84212467971,504138.16452617565,484900.74754184537,463674.29954212392,440258.61163913313,414433.42794048018,385956.4403264916,354561.08269472426]
[]
[null,"Operating Expense"]
[null,null,"Flight Hours",null,null,null,null,null,{"$f":"Assumptions!M20","v":39404},{"$f":"Assumptions!N20","v":55220},{"$f":"Assumptions!O20","v":76346},{"$f":"Assumptions!P20","v":84058},{"$f":"Assumptions!Q20","v":91690},{"$f":"Assumptions!R20","v":70721},{"$f":"Assumptions!S20","v":28288.399999999998},{"$f":"Assumptions!T20","v":108300.50208980656},{"$f":"Assumptions!U20","v":108377.27271192719},{"$f":"Assumptions!V20","v":103686.58512372104},{"$f":"Assumptions!W20","v":98526.828776694267},{"$f":"Assumptions!X20","v":92851.096794964833},{"$f":"Assumptions!Y20","v":86607.791615062451},{"$f":"Assumptions!Z20","v":79740.155917169832},{"$f":"Assumptions!AA20","v":72185.756649487957}]
[null,null,"Flight Expense per Hour",null,null,null,null,null,{"$f":"Assumptions!M60","v":0.94556390214191455},{"$f":"Assumptions!N60","v":1.1386635277073525},{"$f":"Assumptions!O60","v":1.5143425981714824},{"$f":"Assumptions!P60","v":2.0078398248828191},{"$f":"Assumptions!Q60","v":1.6387392300141783},{"$f":"Assumptions!R60","v":1.7845901500261592},{"$f":"Assumptions!S60","v":1.7845901500261592},{"$f":"Assumptions!T60","v":1.4},{"$f":"Assumptions!U60","v":1.25},{"$f":"Assumptions!V60","v":1.25},{"$f":"Assumptions!W60","v":1.25},{"$f":"Assumptions!X60","v":1.25},{"$f":"Assumptions!Y60","v":1.25},{"$f":"Assumptions!Z60","v":1.25},{"$f":"Assumptions!AA60","v":1.25}]
[null,null,"Maintenance Expense per Hour",null,null,null,null,null,{"$f":"Assumptions!M70","v":0.5612120596893716},{"$f":"Assumptions!N70","v":0.94047446577327054},{"$f":"Assumptions!O70","v":0.8477457889083907},{"$f":"Assumptions!P70","v":1.2299721620785649},{"$f":"Assumptions!Q70","v":1.2551205147780564},{"$f":"Assumptions!R70","v":1.5190961666266032},{"$f":"Assumptions!S70","v":1.5190961666266032},{"$f":"Assumptions!T70","v":1.2},{"$f":"Assumptions!U70","v":1.1000000000000001},{"$f":"Assumptions!V70","v":1},{"$f":"Assumptions!W70","v":1},{"$f":"Assumptions!X70","v":1},{"$f":"Assumptions!Y70","v":1},{"$f":"Assumptions!Z70","v":1},{"$f":"Assumptions!AA70","v":1}]
[null,null,"Fuel Expense per Hour",null,null,null,null,null,{"$f":"Assumptions!M80","v":0.41894223936656177},{"$f":"Assumptions!N80","v":0.69818906193408181},{"$f":"Assumptions!O80","v":0.75134257197495613},{"$f":"Assumptions!P80","v":0.64881391420209855},{"$f":"Assumptions!Q80","v":0.90213763769222377},{"$f":"Assumptions!R80","v":0.7790472419790444},{"$f":"Assumptions!S80","v":0.7790472419790444},{"$f":"Assumptions!T80","v":0.79462818681862535},{"$f":"Assumptions!U80","v":0.81052075055499784},{"$f":"Assumptions!V80","v":0.82673116556609783},{"$f":"Assumptions!W80","v":0.84326578887741976},{"$f":"Assumptions!X80","v":0.86013110465496823},{"$f":"Assumptions!Y80","v":0.87733372674806764},{"$f":"Assumptions!Z80","v":0.89488040128302904},{"$f":"Assumptions!AA80","v":0.91277800930868969}]
[null,null,"SG&A Expense per Revenue",null,null,null,null,null,{"$f":"Assumptions!M90","v":4.447994618683259E-2},{"$f":"Assumptions!N90","v":4.9114509703122991E-2},{"$f":"Assumptions!O90","v":4.4528165163160348E-2},{"$f":"Assumptions!P90","v":6.0310959254766226E-2},{"$f":"Assumptions!Q90","v":5.6386900330505703E-2},{"$f":"Assumptions!R90","v":5.9031900643304831E-2},{"$f":"Assumptions!S90","v":5.9031900643304831E-2},{"$f":"Assumptions!T90","v":5.3999999999999999E-2},{"$f":"Assumptions!U90","v":0.05},{"$f":"Assumptions!V90","v":4.4999999999999998E-2},{"$f":"Assumptions!W90","v":4.4999999999999998E-2},{"$f":"Assumptions!X90","v":4.4999999999999998E-2},{"$f":"Assumptions!Y90","v":4.4999999999999998E-2},{"$f":"Assumptions!Z90","v":4.4999999999999998E-2},{"$f":"Assumptions!AA90","v":4.4999999999999998E-2}]
[null,null,"Bad Debt Expense per Revenue",null,null,null,null,null,{"$f":"Assumptions!M93","v":1.6364668292272764E-2},{"$f":"Assumptions!N93","v":7.9527053078010546E-3},{"$f":"Assumptions!O93","v":7.4845427920598763E-3},{"$f":"Assumptions!P93","v":5.1807993233241702E-3},{"$f":"Assumptions!Q93","v":2.6043746280844837E-3},{"$f":"Assumptions!R93","v":5.4011146207147464E-3},{"$f":"Assumptions!S93","v":5.0000000000000001E-3},{"$f":"Assumptions!T93","v":5.0000000000000001E-3},{"$f":"Assumptions!U93","v":5.0000000000000001E-3},{"$f":"Assumptions!V93","v":5.0000000000000001E-3},{"$f":"Assumptions!W93","v":5.0000000000000001E-3},{"$f":"Assumptions!X93","v":5.0000000000000001E-3},{"$f":"Assumptions!Y93","v":5.0000000000000001E-3},{"$f":"Assumptions!Z93","v":5.0000000000000001E-3},{"$f":"Assumptions!AA93","v":5.0000000000000001E-3}]
[]
[null,null,"Flight Expense",null,null,null,null,null,{"$f":"I121*I120","v":37259},{"$f":"J121*J120","v":62877},115614,168775,150256,126208,50483.199999999997,151620.70292572916,135471.59088990898,129608.23140465131,123158.53597086783,116063.87099370605,108259.73951882806,99675.194896462286,90232.195811859943]
[null,null,"Maintenance Expense",null,null,null,null,null,{"$f":"I120*I122","v":22114},{"$f":"J120*J122","v":51933},64721.999999999993,103389,115082,107432,42972.799999999996,129960.60250776786,119214.99998311991,103686.58512372104,98526.828776694267,92851.096794964833,86607.791615062451,79740.155917169832,72185.756649487957]
[null,null,"Fuel Expense",null,null,null,null,null,{"$f":"I123*I120","v":16508},{"$f":"J123*J120","v":38554},57362,54538,82717,55095,22037.999999999996,86058.631607169722,87842.028421574912,85720.931372902312,83084.303993969559,79864.116454678486,75983.936583062779,71357.902725528242,65889.571254961134]
[null,null,"SG&A Expense",null,null,null,null,null,{"$f":"I124*I115","v":4232},{"$f":"J124*J115","v":9554},13273,21676,21889,17848,7139.2,25002.223193033169,23166.617071370332,19947.546359149543,18954.896453557409,17862.981557406059,16661.875171639578,15340.65814729645,13887.319420519008]
[null,null,"Bad Debt Expense",null,null,null,null,null,{"$f":"I125*I115","v":1556.9999999999998},{"$f":"J125*J115","v":1547.0000000000002},2231,1862,1011,1633,604.69000000000005,2315.0206660215899,2316.6617071370333,2216.394039905505,2106.0996059508234,1984.7757286006733,1851.3194635155087,1704.517571921828,1543.0354911687787]
[null,null,null,"Total Operating Expense",null,null,null,null,{"$f":"SUM(I127:I131)","v":81670},164465,253202,350240,370955,308216,123237.89,394957.18089972145,368011.8980731112,341179.68830032973,325830.66480103991,308626.84152935614,289364.6623521084,267818.42925837863,243737.87862799683]
[]
[null,null,"Historic EBITDA",null,null,null,null,null,{"$f":"I117-I132","v":16080},{"$f":"J117-J132","v":35644},52328,23443,53586,17428,8906.1909300733096,108052.66122495825,136126.26645306445,143721.05924151564,137843.63474108401,131631.77010977699,125068.76558837178,118138.01106811297,110823.20406672743]
[null,null,"Computed EBITDA",null,null,null,null,null,{"$f":"I72+I68","v":16080},{"$f":"J72+J68","v":35644},52328,23443,53586,17428,0,0,0,0,0,0,0,0,0]
[null,null,"Difference",null,null,null,null,null,{"$f":"I134-I135","v":0},{"$f":"J134-J135","v":0},0,0,0,0,8906.1909300733096,108052.66122495825,136126.26645306445,143721.05924151564,137843.63474108401,131631.77010977699,125068.76558837178,118138.01106811297,110823.20406672743]
[null,null,"Check",null,null,null,null,{"$f":"AND(I137:W137)","v":true},{"$f":"IF(I5,I136=0,TRUE)","v":true},{"$f":"IF(J5,J136=0,TRUE)","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true]
[]
[null,null,"Total Capital Expenditures",null,null,null,null,null,{"$f":"Assumptions!M104*I4+Assumptions!M106","v":0},{"$f":"Assumptions!N104*J4+Assumptions!N106","v":0},{"$f":"Assumptions!O104*K4+Assumptions!O106","v":0},{"$f":"Assumptions!P104*L4+Assumptions!P106","v":0},{"$f":"Assumptions!Q104*M4+Assumptions!Q106","v":0},{"$f":"Assumptions!R104*N4+Assumptions!R106","v":56000},{"$f":"Assumptions!S104*O4+Assumptions!S106","v":6229.5999999999985},{"$f":"Assumptions!T104*P4+Assumptions!T106","v":25000},{"$f":"Assumptions!U104*Q4+Assumptions!U106","v":25000},{"$f":"Assumptions!V104*R4+Assumptions!V106","v":25000},{"$f":"Assumptions!W104*S4+Assumptions!W106","v":20000},{"$f":"Assumptions!X104*T4+Assumptions!X106","v":20000},{"$f":"Assumptions!Y104*U4+Assumptions!Y106","v":20000},{"$f":"Assumptions!Z104*V4+Assumptions!Z106","v":20000},{"$f":"Assumptions!AA104*W4+Assumptions!AA106","v":20000}]
[]
["Depreciation"]
[null,"Depreciation Rate",null,null,null,null,null,null,{"$f":"Assumptions!M114","v":7.6721087855407308E-2},{"$f":"Assumptions!N114","v":9.7735605595682076E-2},{"$f":"Assumptions!O114","v":6.0955853465818548E-2},{"$f":"Assumptions!P114","v":6.8071324219494453E-2},{"$f":"Assumptions!Q114","v":8.5870432539090033E-2},{"$f":"Assumptions!R114","v":0.10226361236761256},{"$f":"Assumptions!S114","v":0.10226361236761256},{"$f":"Assumptions!T114","v":0.10226361236761256},{"$f":"Assumptions!U114","v":0.10226361236761256},{"$f":"Assumptions!V114","v":0.10226361236761256},{"$f":"Assumptions!W114","v":0.10226361236761256},{"$f":"Assumptions!X114","v":0.10226361236761256},{"$f":"Assumptions!Y114","v":0.10226361236761256},{"$f":"Assumptions!Z114","v":0.10226361236761256},{"$f":"Assumptions!AA114","v":0.10226361236761256}]
[null,"Retirement Rate",null,null,null,null,null,null,{"$f":"Assumptions!M117","v":{"$error":"#N/A"}},{"$f":"Assumptions!N117","v":{"$error":"#N/A"}},{"$f":"Assumptions!O117","v":{"$error":"#N/A"}},{"$f":"Assumptions!P117","v":{"$error":"#N/A"}},{"$f":"Assumptions!Q117","v":{"$error":"#N/A"}},{"$f":"Assumptions!R117","v":0},{"$f":"Assumptions!S117","v":0},{"$f":"Assumptions!T117","v":3.3311710750748923E-2},{"$f":"Assumptions!U117","v":3.6642881825823821E-2},{"$f":"Assumptions!V117","v":4.030717000840621E-2},{"$f":"Assumptions!W117","v":4.4337887009246832E-2},{"$f":"Assumptions!X117","v":4.8771675710171519E-2},{"$f":"Assumptions!Y117","v":5.3648843281188678E-2},{"$f":"Assumptions!Z117","v":5.9013727609307551E-2},{"$f":"Assumptions!AA117","v":6.4915100370238316E-2}]
[null,"Plant Balance",null,null,null,null,null,null,{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998},{"$f":"Depreciation!$E$8","v":385702.75199999998}]
[]
[null,"Existing Plant"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H149","v":0},{"$f":"I149","v":117295},127098,226541,336798.25299999997,375625.89100000006,385702.75199999998,385702.75199999998,372854.33348960814,358721.07312817709,343174.48673060292,326073.24169327138,307261.87215220666,286569.36565703549,263807.60851234721]
[null,null,"Less: Retirements",null,null,null,null,null,{"$f":"IFERROR(I144*I143,0)","v":0},{"$f":"IFERROR(J144*J143,0)","v":0},0,0,0,0,0,12848.418510391844,14133.260361431032,15546.586397574138,17101.245037331551,18811.369541064709,20692.506495171183,22761.757144688301,25037.932859157136]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I25+I28+I29,I147-I148)","v":117295},{"$f":"IF(J5,J25+J28+J29,J147-J148)","v":127098},226541,336798.25299999997,375625.89100000006,385702.75199999998,385702.75199999998,372854.33348960814,358721.07312817709,343174.48673060292,326073.24169327138,307261.87215220666,286569.36565703549,263807.60851234721,238769.67565319009]
[null,null,"Depreciation",null,null,null,null,null,{"$f":"IF(I5,I68,I147*I142*I4)","v":8999},{"$f":"IF(J5,J68,J147*J142*J4)","v":12422},13809,20972,32091,26468,11269.530491328398,39443.356719649397,38129.431029565829,36684.112770473897,35094.262685472779,33345.427591971544,31421.70898912019,29305.6185259837,26977.91901653356]
[]
[null,"Accumulated Depreciation"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H156","v":0},{"$f":"I156","v":0},0,0,81246.880999999994,109707.512,113883.56,125153.09049132839,151748.02870058594,175744.19936872076,196881.72574162052,214874.74338976177,229408.80144066858,240138.00393461762,246681.86531591302]
[null,null,"Add: Depreciation",null,null,null,null,null,{"$f":"I150","v":8999},{"$f":"J150","v":12422},13809,20972,32091,26468,11269.530491328398,39443.356719649397,38129.431029565829,36684.112770473897,35094.262685472779,33345.427591971544,31421.70898912019,29305.6185259837,26977.91901653356]
[null,null,"Less: Retirements",null,null,null,null,null,{"$f":"I148","v":0},{"$f":"J148","v":0},0,0,0,0,0,12848.418510391844,14133.260361431032,15546.586397574138,17101.245037331551,18811.369541064709,20692.506495171183,22761.757144688301,25037.932859157136]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I26,I153+I154-I155)","v":0},{"$f":"IF(J5,J26,J153+J154-J155)","v":0},0,81246.880999999994,109707.512,113883.56,125153.09049132839,151748.02870058594,175744.19936872076,196881.72574162052,214874.74338976177,229408.80144066858,240138.00393461762,246681.86531591302,248621.85147328945]
[]
[null,"New Plant for Maintenance Cap Exp"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H161","v":0},{"$f":"I161","v":0},0,0,0,0,56000,62229.599999999999,87229.6,112229.6,137229.6,157229.6,177229.6,197229.6,217229.6]
[null,null,"Add: New Expenditures",null,null,null,null,null,{"$f":"I139","v":0},{"$f":"J139","v":0},0,0,0,56000,6229.5999999999985,25000,25000,25000,20000,20000,20000,20000,20000]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"SUM(I159:I160)","v":0},{"$f":"SUM(J159:J160)","v":0},0,0,0,56000,62229.599999999999,87229.6,112229.6,137229.6,157229.6,177229.6,197229.6,217229.6,237229.6]
[null,null,"Depreciation Rate",null,null,null,null,null,{"$f":"Assumptions!M120","v":7.6923076923076927E-2},{"$f":"Assumptions!N120","v":7.6923076923076927E-2},{"$f":"Assumptions!O120","v":7.6923076923076927E-2},{"$f":"Assumptions!P120","v":7.6923076923076927E-2},{"$f":"Assumptions!Q120","v":7.6923076923076927E-2},{"$f":"Assumptions!R120","v":7.6923076923076927E-2},{"$f":"Assumptions!S120","v":8.3333333333333329E-2},{"$f":"Assumptions!T120","v":9.0909090909090912E-2},{"$f":"Assumptions!U120","v":0.1},{"$f":"Assumptions!V120","v":0.1111111111111111},{"$f":"Assumptions!W120","v":0.125},{"$f":"Assumptions!X120","v":0.14285714285714285},{"$f":"Assumptions!Y120","v":0.16666666666666666},{"$f":"Assumptions!Z120","v":0.2},{"$f":"Assumptions!AA120","v":0.25}]
[null,null,"Depreciation Expense",null,null,null,null,null,{"$f":"I162*I159","v":0},{"$f":"J162*J159","v":0},0,0,0,0,4666.6666666666661,5657.2363636363634,8722.9600000000009,12469.955555555556,17153.7,22461.371428571427,29538.266666666666,39445.920000000006,54307.4]
[null,null,"Accumulated Deprecaiton",null,null,null,null,null,{"$f":"H164+I163","v":0},{"$f":"I164+J163","v":0},0,0,0,0,4666.6666666666661,10323.90303030303,19046.86303030303,31516.818585858586,48670.51858585859,71131.890014430013,100670.15668109668,140116.07668109669,194423.47668109668]
[]
[null,"Total Depreciation Expenditure",null,null,null,null,null,null,{"$f":"I163+I150","v":8999},{"$f":"J163+J150","v":12422},13809,20972,32091,26468,15936.197157995064,45100.593083285763,46852.391029565828,49154.068326029454,52247.962685472783,55806.799020542967,60959.975655786853,68751.538525983706,81285.319016533555]
[]
["Working Capital"]
[null,"A/R as Pct of Revenue",null,null,null,null,null,null,{"$f":"Assumptions!M125","v":5.6040920716112531E-2},{"$f":"Assumptions!N125","v":0.17903742460359104},{"$f":"Assumptions!O125","v":0.14702320557719373},{"$f":"Assumptions!P125","v":0.24797511259543517},{"$f":"Assumptions!Q125","v":0.16498265891869102},{"$f":"Assumptions!R125","v":0.14512667207134172},{"$f":"Assumptions!S125","v":0.15},{"$f":"Assumptions!T125","v":0.15},{"$f":"Assumptions!U125","v":0.15},{"$f":"Assumptions!V125","v":0.15},{"$f":"Assumptions!W125","v":0.15},{"$f":"Assumptions!X125","v":0.15},{"$f":"Assumptions!Y125","v":0.15},{"$f":"Assumptions!Z125","v":0.15},{"$f":"Assumptions!AA125","v":0.15}]
[null,"A/R Amount",null,null,null,null,null,null,{"$f":"I169*I117/I4","v":5478},{"$f":"J169*J117/J4","v":35827},44920,92664.084000000003,70041.903000000006,66163.482000000004,69375.642488288489,75451.476318701956,75620.724678926344,72735.112131276808,69551.144931318588,66038.791745869967,62165.014191072027,57893.466048973736,53184.162404208641]
[]
[null,"Inventory Percent of Total Expense",null,null,null,null,null,null,{"$f":"Assumptions!M129","v":0},{"$f":"Assumptions!N129","v":0},{"$f":"Assumptions!O129","v":0},{"$f":"Assumptions!P129","v":3.5206869575148465E-2},{"$f":"Assumptions!Q129","v":5.591551535900581E-2},{"$f":"Assumptions!R129","v":5.7066551657650108E-2},{"$f":"Assumptions!S129","v":5.7066551657650108E-2},{"$f":"Assumptions!T129","v":5.7066551657650108E-2},{"$f":"Assumptions!U129","v":5.7066551657650108E-2},{"$f":"Assumptions!V129","v":5.7066551657650108E-2},{"$f":"Assumptions!W129","v":5.7066551657650108E-2},{"$f":"Assumptions!X129","v":5.7066551657650108E-2},{"$f":"Assumptions!Y129","v":5.7066551657650108E-2},{"$f":"Assumptions!Z129","v":5.7066551657650108E-2},{"$f":"Assumptions!AA129","v":5.7066551657650108E-2}]
[null,"Total Inventory",null,null,null,null,null,null,{"$f":"I172*I132/I4","v":0},{"$f":"J172*J132/J4","v":0},0,12330.853999999999,20742.14,24624.353999999999,24614.664955526809,22538.844366373814,21001.169992019066,19469.948306931728,18594.032464515021,17612.269595072397,16513.043452015074,15283.474228143976,13909.280241650633]
[]
[null,"Pre-Paid Pct of Revenue",null,null,null,null,null,null,{"$f":"Assumptions!M133","v":0},{"$f":"Assumptions!N133","v":0},{"$f":"Assumptions!O133","v":0},{"$f":"Assumptions!P133","v":2.4069676704586509E-2},{"$f":"Assumptions!Q133","v":3.2614800455079723E-2},{"$f":"Assumptions!R133","v":3.1422510910249057E-2},{"$f":"Assumptions!S133","v":3.1422510910249057E-2},{"$f":"Assumptions!T133","v":3.1422510910249057E-2},{"$f":"Assumptions!U133","v":3.1422510910249057E-2},{"$f":"Assumptions!V133","v":3.1422510910249057E-2},{"$f":"Assumptions!W133","v":3.1422510910249057E-2},{"$f":"Assumptions!X133","v":3.1422510910249057E-2},{"$f":"Assumptions!Y133","v":3.1422510910249057E-2},{"$f":"Assumptions!Z133","v":3.1422510910249057E-2},{"$f":"Assumptions!AA133","v":3.1422510910249057E-2}]
[null,"Total Prepaid",null,null,null,null,null,null,{"$f":"I175*I117/I4","v":0},{"$f":"J175*J117/J4","v":0},0,8994.4290000000001,13846.320000000002,14325.573000000002,14533.045886625219,15805.832252125405,15841.286975096689,15236.799030021561,14569.810736164478,13834.031027561763,13022.538911031656,12127.720457040072,11141.199489324692]
[]
[null,"Accounts Payable Percent of Op Cost",null,null,null,null,null,null,{"$f":"Assumptions!M137","v":0},{"$f":"Assumptions!N137","v":0},{"$f":"Assumptions!O137","v":0},{"$f":"Assumptions!P137","v":0.19000220134764734},{"$f":"Assumptions!Q137","v":0.12440236686390532},{"$f":"Assumptions!R137","v":0.11563997326550213},{"$f":"Assumptions!S137","v":0.11563997326550213},{"$f":"Assumptions!T137","v":0.11563997326550213},{"$f":"Assumptions!U137","v":0.11563997326550213},{"$f":"Assumptions!V137","v":0.11563997326550213},{"$f":"Assumptions!W137","v":0.11563997326550213},{"$f":"Assumptions!X137","v":0.11563997326550213},{"$f":"Assumptions!Y137","v":0.11563997326550213},{"$f":"Assumptions!Z137","v":0.11563997326550213},{"$f":"Assumptions!AA137","v":0.11563997326550213}]
[null,"Accounts Payable ",null,null,null,null,null,null,{"$f":"I178*I132/I4","v":0},{"$f":"J178*J132/J4","v":0},0,66546.370999999999,46147.68,49898.926000000007,49879.292067139126,45672.837840261876,42556.88605456127,39454.010033782477,37679.04936667304,35689.599703471104,33462.121818378866,30970.515999447678,28185.841768331757]
[]
[null,"Accrued Expenses Percent of Op Cost",null,null,null,null,null,null,{"$f":"Assumptions!M141","v":0.15574874494918575},{"$f":"Assumptions!N141","v":0.1977806828200529},{"$f":"Assumptions!O141","v":0.22889629623778643},{"$f":"Assumptions!P141","v":5.8082994518044773E-2},{"$f":"Assumptions!Q141","v":6.5163922847784772E-2},{"$f":"Assumptions!R141","v":5.3231469859727321E-2},{"$f":"Assumptions!S141","v":5.3231469859727321E-2},{"$f":"Assumptions!T141","v":5.3231469859727321E-2},{"$f":"Assumptions!U141","v":5.3231469859727321E-2},{"$f":"Assumptions!V141","v":5.3231469859727321E-2},{"$f":"Assumptions!W141","v":5.3231469859727321E-2},{"$f":"Assumptions!X141","v":5.3231469859727321E-2},{"$f":"Assumptions!Y141","v":5.3231469859727321E-2},{"$f":"Assumptions!Z141","v":5.3231469859727321E-2},{"$f":"Assumptions!AA141","v":5.3231469859727321E-2}]
[null,"Accrued Expenses",null,null,null,null,null,null,{"$f":"I181*I132/I4","v":12720},{"$f":"J181*J132/J4","v":32528},57957,20342.988000000001,24172.883000000002,22969.507000000001,22960.469094889871,21024.151270946393,19589.81426029986,18161.496294510165,17344.445212731473,16428.660412772762,15403.306302466432,14256.368644946895,12974.525539860089]
[]
[null,"Deferred Revenue Percent",null,null,null,null,null,null,{"$f":"Assumptions!M145","v":0},{"$f":"Assumptions!N145","v":0},{"$f":"Assumptions!O145","v":0},{"$f":"Assumptions!P145","v":0},{"$f":"Assumptions!Q145","v":1.8726813193543144E-3},{"$f":"Assumptions!R145","v":6.6613585036771096E-3},{"$f":"Assumptions!S145","v":6.6613585036771096E-3},{"$f":"Assumptions!T145","v":6.6613585036771096E-3},{"$f":"Assumptions!U145","v":6.6613585036771096E-3},{"$f":"Assumptions!V145","v":6.6613585036771096E-3},{"$f":"Assumptions!W145","v":6.6613585036771096E-3},{"$f":"Assumptions!X145","v":6.6613585036771096E-3},{"$f":"Assumptions!Y145","v":6.6613585036771096E-3},{"$f":"Assumptions!Z145","v":6.6613585036771096E-3},{"$f":"Assumptions!AA145","v":6.6613585036771096E-3}]
[null,"Deferred Revenues ",null,null,null,null,null,null,{"$f":"I184*I117/I4","v":0},{"$f":"J184*J117/J4","v":0},0,0,795.03,3036.924,3080.90684024949,3350.7288892705155,3358.24504929461,3230.0977180772588,3088.7007381914545,2932.7204464594174,2760.6896394193723,2570.9942158178219,2361.8584832814645]
[]
[null,"Total Working Capital",null,null,null,null,null,null,{"$f":"I170+I173+I176-I179-I182-I185","v":-7242},{"$f":"J170+J173+J176-J179-J182-J185","v":3299},-13037,27100.007999999998,33514.770000000011,29208.052000000007,32602.685328162028,43748.434936722391,46958.236281886377,46596.255421860194,44602.792814402128,42434.111805800851,40074.47879385409,37506.78187394538,34712.416343710662]
[null,null,"Change in Working Capital",null,null,null,null,null,{"$f":"I187-H187","v":-7242},{"$f":"J187-I187","v":10541},-16336,40137.008000000002,6414.7620000000134,-4306.7180000000044,3394.6333281620209,11145.749608560363,3209.8013451639854,-361.9808600261822,-1993.4626074580665,-2168.6810086012774,-2359.6330119467602,-2567.6969199087107,-2794.3655302347179]
[]
["Other Assets and Liabilities"]
[null,"Total Other Assets",null,null,null,null,null,null,{"$f":"Assumptions!M150","v":0},{"$f":"Assumptions!N150","v":0},{"$f":"Assumptions!O150","v":0},{"$f":"Assumptions!P150","v":6964.1220000000003},{"$f":"Assumptions!Q150","v":6435.1559999999999},{"$f":"Assumptions!R150","v":6224.5410000000002},{"$f":"Assumptions!S150","v":6224.5410000000002},{"$f":"Assumptions!T150","v":6224.5410000000002},{"$f":"Assumptions!U150","v":6224.5410000000002},{"$f":"Assumptions!V150","v":6224.5410000000002},{"$f":"Assumptions!W150","v":6224.5410000000002},{"$f":"Assumptions!X150","v":6224.5410000000002},{"$f":"Assumptions!Y150","v":6224.5410000000002},{"$f":"Assumptions!Z150","v":6224.5410000000002},{"$f":"Assumptions!AA150","v":6224.5410000000002}]
[null,"Total Other Liabilities",null,null,null,null,null,null,{"$f":"Assumptions!M152","v":0},{"$f":"Assumptions!N152","v":0},{"$f":"Assumptions!O152","v":0},{"$f":"Assumptions!P152","v":0},{"$f":"Assumptions!Q152","v":0},{"$f":"Assumptions!R152","v":30255.291000000001},{"$f":"Assumptions!S152","v":30255.291000000001},{"$f":"Assumptions!T152","v":30255.291000000001},{"$f":"Assumptions!U152","v":30255.291000000001},{"$f":"Assumptions!V152","v":30255.291000000001},{"$f":"Assumptions!W152","v":30255.291000000001},{"$f":"Assumptions!X152","v":30255.291000000001},{"$f":"Assumptions!Y152","v":30255.291000000001},{"$f":"Assumptions!Z152","v":30255.291000000001},{"$f":"Assumptions!AA152","v":30255.291000000001}]
[null,"Restricted Cash",null,null,null,null,null,null,{"$f":"Assumptions!M154","v":0},{"$f":"Assumptions!N154","v":0},{"$f":"Assumptions!O154","v":0},{"$f":"Assumptions!P154","v":0},{"$f":"Assumptions!Q154","v":795.03},{"$f":"Assumptions!R154","v":14036.924000000001},{"$f":"Assumptions!S154","v":14036.924000000001},{"$f":"Assumptions!T154","v":14036.924000000001},{"$f":"Assumptions!U154","v":14036.924000000001},{"$f":"Assumptions!V154","v":14036.924000000001},{"$f":"Assumptions!W154","v":14036.924000000001},{"$f":"Assumptions!X154","v":14036.924000000001},{"$f":"Assumptions!Y154","v":14036.924000000001},{"$f":"Assumptions!Z154","v":14036.924000000001},{"$f":"Assumptions!AA154","v":14036.924000000001}]
[]
[null,"Other Income",null,null,null,null,null,null,{"$f":"Assumptions!M156","v":2900},{"$f":"Assumptions!N156","v":1524},{"$f":"Assumptions!O156","v":2840},{"$f":"Assumptions!P156","v":19856},{"$f":"Assumptions!Q156","v":1267},{"$f":"Assumptions!R156","v":-103},{"$f":"Assumptions!S156","v":0},{"$f":"Assumptions!T156","v":0},{"$f":"Assumptions!U156","v":0},{"$f":"Assumptions!V156","v":0},{"$f":"Assumptions!W156","v":0},{"$f":"Assumptions!X156","v":0},{"$f":"Assumptions!Y156","v":0},{"$f":"Assumptions!Z156","v":0},{"$f":"Assumptions!AA156","v":0}]
[]
["Financing"]
[null,"Cash Balance"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H202","v":0},{"$f":"I202","v":1000},1000,1000,1091.96,2324.3530000000001,3282.1419999999998,2312.5214162762827,2515.0492106233987,2520.6908226308783,53901.060861226142,126605.19003560499,198995.46352171805,312393.72602768813,422471.24579654046]
[null,null,"Add: Cash increase from Positive Cash Flow",null,null,null,null,null,{"$f":"I263","v":20826},{"$f":"J263","v":0},0,0,0,0,0,0,0,51380.370038595262,72704.129174378846,72390.273486113059,113398.26250597008,110077.51976885233,106291.70697085836]
[null,null,"Less: Cash reduction with Negative Cash Flow",null,null,null,null,null,{"$f":"I260","v":-1000.0000000000001},{"$f":"J260","v":0},0,-91.960000000000036,-1232.393,-957.78899999999976,969.62058372371712,-202.52779434711601,-5.6416120074795799,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I9,I199+I200-I201)","v":1000},{"$f":"IF(J5,J9,J199+J200-J201)","v":1000},1000,1091.96,2324.3530000000001,3282.1419999999998,2312.5214162762827,2515.0492106233987,2520.6908226308783,53901.060861226142,126605.19003560499,198995.46352171805,312393.72602768813,422471.24579654046,528762.95276739879]
[]
[null,null,"Interest Income Rate",null,null,null,null,null,{"$f":"Assumptions!M165*'Financial Model'!I4","v":0},{"$f":"Assumptions!N165*'Financial Model'!J4","v":3.5999999999999997E-2},{"$f":"Assumptions!O165*'Financial Model'!K4","v":0.113},{"$f":"Assumptions!P165*'Financial Model'!L4","v":0.30115298571674409},{"$f":"Assumptions!Q165*'Financial Model'!M4","v":0.17999008867242589},{"$f":"Assumptions!R165*'Financial Model'!N4","v":3.4151319407847436E-2},{"$f":"Assumptions!S165*'Financial Model'!O4","v":8.5714285714285701E-3},{"$f":"Assumptions!T165*'Financial Model'!P4","v":0.03},{"$f":"Assumptions!U165*'Financial Model'!Q4","v":0.03},{"$f":"Assumptions!V165*'Financial Model'!R4","v":0.03},{"$f":"Assumptions!W165*'Financial Model'!S4","v":0.03},{"$f":"Assumptions!X165*'Financial Model'!T4","v":0.03},{"$f":"Assumptions!Y165*'Financial Model'!U4","v":0.03},{"$f":"Assumptions!Z165*'Financial Model'!V4","v":0.03},{"$f":"Assumptions!AA165*'Financial Model'!W4","v":0.03}]
[null,null,"Interest Income  ",null,null,null,null,null,{"$f":"IF(I5,I75,I204*I199)","v":0},{"$f":"IF(J5,J75,J204*J199)","v":36},113,315,379,349,28.132645714285708,69.375642488288477,75.451476318701964,75.620724678926351,1617.0318258367843,3798.1557010681495,5969.8639056515412,9371.8117808306433,12674.137373896214]
[]
[null,null,"Minimum Cash Balance as Pct of Revenue",null,null,null,null,null,{"$f":"Assumptions!M179","v":1.0230179028132993E-2},{"$f":"Assumptions!N179","v":4.9972764843160475E-3},{"$f":"Assumptions!O179","v":3.2730010146303145E-3},{"$f":"Assumptions!P179","v":2.9221559450122165E-3},{"$f":"Assumptions!Q179","v":5.4749788595212243E-3},{"$f":"Assumptions!R179","v":7.1992333433354913E-3},{"$f":"Assumptions!S179","v":5.0000000000000001E-3},{"$f":"Assumptions!T179","v":5.0000000000000001E-3},{"$f":"Assumptions!U179","v":5.0000000000000001E-3},{"$f":"Assumptions!V179","v":5.0000000000000001E-3},{"$f":"Assumptions!W179","v":5.0000000000000001E-3},{"$f":"Assumptions!X179","v":5.0000000000000001E-3},{"$f":"Assumptions!Y179","v":5.0000000000000001E-3},{"$f":"Assumptions!Z179","v":5.0000000000000001E-3},{"$f":"Assumptions!AA179","v":5.0000000000000001E-3}]
[null,null,"Minimum Cash Balance  ",null,null,null,null,null,{"$f":"I207*I117","v":1000.0000000000001},{"$f":"J207*J117/J4","v":1000},1000,1091.96,2324.3530000000001,3282.1419999999998,2312.5214162762827,{"$f":"P207*P117/P4","v":2515.0492106233987},2520.6908226308783,2424.5037377092267,2318.3714977106197,2201.2930581956657,2072.1671397024011,1929.7822016324581,1772.8054134736212]
[]
[null,null,"Test for Cash Balance",null,null,null,null,null,{"$f":"I199-I208","v":-1000.0000000000001},{"$f":"J199-J208","v":0},0,-91.960000000000036,-1232.393,-957.78899999999976,969.62058372371712,-202.52779434711601,-5.6416120074795799,96.187084921651604,51582.689363515521,124403.89697740933,196923.29638201566,310463.94382605568,420698.44038306683]
[]
[null,"Existing Debt Balance"]
[null,null,"Base Amount",null,null,null,null,null,{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000},{"$f":"Assumptions!$E$182","v":250000}]
[]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H218","v":0},{"$f":"I218","v":0},0,0,0,0,250000,208333.33333333334,166666.66666666669,125000.00000000003,83333.333333333372,41666.666666666708,0,0,0]
[null,null,"Add: New Debt Issued",null,null,null,null,null,{"$f":"(I2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(J2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(K2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(L2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(M2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(N2=Assumptions!$E$186)*Assumptions!$E$182","v":250000},null,{"$f":"(P2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(Q2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(R2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(S2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(T2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(U2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(V2=Assumptions!$E$186)*Assumptions!$E$182","v":0},{"$f":"(W2=Assumptions!$E$186)*Assumptions!$E$182","v":0}]
[null,null,"Less: Scheduled Debt Repaid",null,null,null,null,null,{"$f":"NOT(I5)*Assumptions!$E$184","v":0},{"$f":"NOT(J5)*Assumptions!$E$184","v":0},{"$f":"NOT(K5)*Assumptions!$E$184","v":0},{"$f":"NOT(L5)*Assumptions!$E$184","v":0},{"$f":"NOT(M5)*Assumptions!$E$184","v":0},{"$f":"NOT(N5)*Assumptions!$E$184","v":0},{"$f":"MIN(NOT(O5)*Assumptions!$E$184,O215)","v":41666.666666666664},{"$f":"MIN(NOT(P5)*Assumptions!$E$184,P215)","v":41666.666666666664},{"$f":"MIN(NOT(Q5)*Assumptions!$E$184,Q215)","v":41666.666666666664},{"$f":"MIN(NOT(R5)*Assumptions!$E$184,R215)","v":41666.666666666664},{"$f":"MIN(NOT(S5)*Assumptions!$E$184,S215)","v":41666.666666666664},{"$f":"MIN(NOT(T5)*Assumptions!$E$184,T215)","v":41666.666666666664},{"$f":"MIN(NOT(U5)*Assumptions!$E$184,U215)","v":0},{"$f":"MIN(NOT(V5)*Assumptions!$E$184,V215)","v":0},{"$f":"MIN(NOT(W5)*Assumptions!$E$184,W215)","v":0}]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"I215+I216-I217","v":0},{"$f":"J215+J216-J217","v":0},0,0,0,250000,208333.33333333334,166666.66666666669,125000.00000000003,83333.333333333372,41666.666666666708,0,0,0,0]
[null,null,"Interest Expense",null,null,null,null,null,{"$f":"Assumptions!$E$185*I215","v":0},{"$f":"Assumptions!$E$185*J215","v":0},{"$f":"Assumptions!$E$185*K215","v":0},{"$f":"Assumptions!$E$185*L215","v":0},{"$f":"Assumptions!$E$185*M215","v":0},{"$f":"Assumptions!$E$185*N215","v":0},{"$f":"Assumptions!$E$185*O215","v":21250},{"$f":"Assumptions!$E$185*P215","v":17708.333333333336},{"$f":"Assumptions!$E$185*Q215","v":14166.66666666667},{"$f":"Assumptions!$E$185*R215","v":10625.000000000004},{"$f":"Assumptions!$E$185*S215","v":7083.3333333333376},{"$f":"Assumptions!$E$185*T215","v":3541.6666666666706},{"$f":"Assumptions!$E$185*U215","v":0},{"$f":"Assumptions!$E$185*V215","v":0},{"$f":"Assumptions!$E$185*W215","v":0}]
[]
[null,"Remaining Debt Balance"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H225","v":0},{"$f":"I225","v":80010},84936,137405,220471.59299999999,238350.842,5092.9809999999707,67853.623516745924,61222.422051130263,14273.386286597983,0,0,0,0,0]
[null,null,"Less: Reduction in Debt from Positive Cash",null,null,null,null,null,{"$f":"I261","v":0},{"$f":"J261","v":19882},63496,0,26805.237999999983,0,0,6833.7292599627763,46954.677376539759,14273.386286597983,0,0,0,0,0]
[null,null,"Add: New Debt from Negative Cash Flow",null,null,null,null,null,{"$f":"I264","v":0},{"$f":"J264","v":0},0,11678.968000000001,1232.393,55066.070999999989,62760.642516745946,202.52779434711556,5.6416120074791252,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I56-I218,I222-I223+I224)","v":80010},{"$f":"IF(J5,J56-J218,J222-J223+J224)","v":84936},137405,220471.59299999999,238350.842,5092.9809999999707,67853.623516745924,61222.422051130263,14273.386286597983,0,0,0,0,0,0]
[]
[null,null,"Interest Expense Rate",null,null,null,null,null,{"$f":"Assumptions!M171*I4","v":5.4943132108486441E-2},{"$f":"Assumptions!N171*J4","v":8.2220848035114522E-2},{"$f":"Assumptions!O171*K4","v":7.304995479915985E-2},{"$f":"Assumptions!P171*L4","v":8.4185444338350457E-2},{"$f":"Assumptions!Q171*M4","v":9.5949972455030452E-2},{"$f":"Assumptions!R171*N4","v":8.1423655798808128E-2},{"$f":"Assumptions!S171*O4","v":2.4285714285714285E-2},{"$f":"Assumptions!T171*P4","v":8.5000000000000006E-2},{"$f":"Assumptions!U171*Q4","v":8.5000000000000006E-2},{"$f":"Assumptions!V171*R4","v":8.5000000000000006E-2},{"$f":"Assumptions!W171*S4","v":8.5000000000000006E-2},{"$f":"Assumptions!X171*T4","v":8.5000000000000006E-2},{"$f":"Assumptions!Y171*U4","v":8.5000000000000006E-2},{"$f":"Assumptions!Z171*V4","v":8.5000000000000006E-2},{"$f":"Assumptions!AA171*W4","v":8.5000000000000006E-2}]
[null,null,"Total Interest Expense  ",null,null,null,null,null,{"$f":"IF(I5,-I74,I227*I222)+I219","v":4396},{"$f":"IF(J5,-J74,J227*J222)+J219","v":6781},8121,15064,22012,20089,21373.686681428571,23475.891332256739,19370.572541012742,11838.237834360832,7083.3333333333376,3541.6666666666706,0,0,0]
[]
[null,null,"Minority Interest Percent of Income",null,null,null,null,null,{"$f":"Assumptions!M177","v":7.5917636526410023E-2},{"$f":"Assumptions!N177","v":8.0995500249986113E-2},{"$f":"Assumptions!O177","v":8.2696171029354448E-2},{"$f":"Assumptions!P177","v":0.40802322512536288},{"$f":"Assumptions!Q177","v":1.0150575730735163},{"$f":"Assumptions!R177","v":-6.4363120174497107E-2},{"$f":"Assumptions!S177","v":7.0000000000000007E-2},{"$f":"Assumptions!T177","v":7.0000000000000007E-2},{"$f":"Assumptions!U177","v":7.0000000000000007E-2},{"$f":"Assumptions!V177","v":7.0000000000000007E-2},{"$f":"Assumptions!W177","v":7.0000000000000007E-2},{"$f":"Assumptions!X177","v":7.0000000000000007E-2},{"$f":"Assumptions!Y177","v":7.0000000000000007E-2},{"$f":"Assumptions!Z177","v":7.0000000000000007E-2},{"$f":"Assumptions!AA177","v":7.0000000000000007E-2}]
[]
["Profit and Loss"]
[null,null,"Revenues",null,null,null,null,null,{"$f":"I117","v":97750},200109,305530,373683,424541,325644,132144.08093007331,503009.84212467971,504138.16452617565,484900.74754184537,463674.29954212392,440258.61163913313,414433.42794048018,385956.4403264916,354561.08269472426]
[null,null,"Less: Cash Operating Cost",null,null,null,null,null,{"$f":"I132","v":81670},164465,253202,350240,370955,308216,123237.89,394957.18089972145,368011.8980731112,341179.68830032973,325830.66480103991,308626.84152935614,289364.6623521084,267818.42925837863,243737.87862799683]
[null,null,null,"EBITDA",null,null,null,null,{"$f":"I233-I234","v":16080},{"$f":"J233-J234","v":35644},52328,23443,53586,17428,8906.1909300733096,108052.66122495825,136126.26645306445,143721.05924151564,137843.63474108401,131631.77010977699,125068.76558837178,118138.01106811297,110823.20406672743]
[null,null,"Less: Depreciation",null,null,null,null,null,{"$f":"I166","v":8999},12422,13809,20972,32091,26468,15936.197157995064,45100.593083285763,46852.391029565828,49154.068326029454,52247.962685472783,55806.799020542967,60959.975655786853,68751.538525983706,81285.319016533555]
[null,null,null,"EBIT ",null,null,null,null,{"$f":"I235-I236","v":7081},{"$f":"J235-J236","v":23222},38519,2471,21495,-9040,-7030.0062279217545,62952.068141672491,89273.875423498626,94566.990915486182,85595.672055611227,75824.971089234023,64108.789932584928,49386.472542129268,29537.885050193872]
[null,null,"Less: Interest Expense",null,null,null,null,null,{"$f":"I228","v":4396},{"$f":"J228","v":6781},8121,15064,22012,20089,21373.686681428571,23475.891332256739,19370.572541012742,11838.237834360832,7083.3333333333376,3541.6666666666706,0,0,0]
[null,null,"Add: Interest Income",null,null,null,null,null,{"$f":"I205","v":0},36,113,315,379,349,28.132645714285708,69.375642488288477,75.451476318701964,75.620724678926351,1617.0318258367843,3798.1557010681495,5969.8639056515412,9371.8117808306433,12674.137373896214]
[null,null,"Add: Other Income",null,null,null,null,null,{"$f":"I195","v":2900},1524,2840,19856,1267,-103,0,0,0,0,0,0,0,0,0]
[null,null,null,"Earnings before Minority Interest",null,null,null,null,{"$f":"I237-I238+I239+I240","v":5585},{"$f":"J237-J238+J239+J240","v":18001},33351,7578,1129,-28883,-28375.560263636042,39545.552451904041,69978.754358804581,82804.37380580428,80129.370548114675,76081.460123635494,70078.653838236467,58758.284322959909,42212.022424090086]
[null,null,"Less: Minority Interest",null,null,null,null,null,{"$f":"I230*I241","v":424},{"$f":"J230*J241","v":1458},2758,3092,1146,1859,-1986.2892184545231,2768.1886716332833,4898.512805116321,5796.3061664062998,5609.0559383680275,5325.7022086544848,4905.5057686765531,4113.0799026071936,2954.8415696863062]
[null,null,null,"Net Income after Minority Interest",null,null,null,null,{"$f":"I241-I242","v":5161},{"$f":"J241-J242","v":16543},30593,4486,-17,-30742,-26389.271045181518,36777.36378027076,65080.241553688262,77008.067639397981,74520.314609746652,70755.757914981004,65173.148069559917,54645.204420352718,39257.180854403778]
[]
[null,null,null,"Actual Net Income",null,null,null,null,{"$f":"I83","v":5161},16543,30593,4486,-17,-30742,0,0,0,0,0,0,0,0,0]
[null,null,null,"Test",null,null,null,{"$f":"SUMIF(5:5,TRUE,246:246)=0","v":true},{"$f":"I245-I243","v":0},{"$f":"J245-J243","v":0},0,0,0,0,26389.271045181518,-36777.36378027076,-65080.241553688262,-77008.067639397981,-74520.314609746652,-70755.757914981004,-65173.148069559917,-54645.204420352718,-39257.180854403778]
[]
["Cash Flow"]
[null,null,"EBITDA",null,null,null,null,null,{"$f":"I235","v":16080},{"$f":"J235","v":35644},52328,23443,53586,17428,8906.1909300733096,108052.66122495825,136126.26645306445,143721.05924151564,137843.63474108401,131631.77010977699,125068.76558837178,118138.01106811297,110823.20406672743]
[null,null,"Less: Working Capital Change",null,null,null,null,null,{"$f":"I188","v":-7242},10541,-16336,40137.008000000002,6414.7620000000134,-4306.7180000000044,3394.6333281620209,11145.749608560363,3209.8013451639854,-361.9808600261822,-1993.4626074580665,-2168.6810086012774,-2359.6330119467602,-2567.6969199087107,-2794.3655302347179]
[null,null,null,"Net Operating Cash Flow",null,null,null,null,{"$f":"I249-I250","v":23322},{"$f":"J249-J250","v":25103},68664,-16694.008000000002,47171.237999999983,21734.718000000004,5511.5576019112887,96906.911616397891,132916.46510790047,144083.04010154182,139837.09734854207,133800.45111837826,127428.39860031854,120705.70798802169,113617.56959696214]
[null,null,"Less: Capital Expenditures",null,null,null,null,null,{"$f":"I139","v":0},0,0,0,0,56000,6229.5999999999985,25000,25000,25000,20000,20000,20000,20000,20000]
[null,null,null,"Cash Flow Before Financing",null,null,null,null,{"$f":"I251-I252","v":23322},{"$f":"J251-J252","v":25103},68664,-16694.008000000002,47171.237999999983,-34265.281999999992,-718.04239808870989,71906.911616397891,107916.46510790047,119083.04010154182,119837.09734854207,113800.45111837826,107428.39860031854,100705.70798802169,93617.569596962145]
[null,null,"Less: Interest Expense",null,null,null,null,null,{"$f":"I238","v":4396},{"$f":"J238","v":6781},8121,15064,22012,20089,21373.686681428571,23475.891332256739,19370.572541012742,11838.237834360832,7083.3333333333376,3541.6666666666706,0,0,0]
[null,null,"Add: Interest Income",null,null,null,null,null,{"$f":"I239","v":0},{"$f":"J239","v":36},113,315,379,349,28.132645714285708,69.375642488288477,75.451476318701964,75.620724678926351,1617.0318258367843,3798.1557010681495,5969.8639056515412,9371.8117808306433,12674.137373896214]
[null,null,"Add: Other Income",null,null,null,null,null,{"$f":"I240","v":2900},{"$f":"J240","v":1524},2840,19856,1267,-103,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Dividends"]
[null,null,"Less: Repayments of Existing Debt",null,null,null,null,null,{"$f":"I217","v":0},{"$f":"J217","v":0},0,0,0,0,41666.666666666664,41666.666666666664,41666.666666666664,41666.666666666664,41666.666666666664,41666.666666666664,0,0,0]
[null,null,null,"Net Cash Flow",null,null,null,null,{"$f":"I253-I254+I255+I256-I257-I258","v":21826},{"$f":"J253-J254+J255+J256-J257-J258","v":19882},63496,-11587.008000000002,26805.237999999983,-54108.281999999992,-63730.26310046966,6833.7292599627763,46954.677376539759,65653.756325193244,72704.129174378846,72390.273486113059,113398.26250597008,110077.51976885233,106291.70697085836]
[null,null,"Add: Reduction in Cash ",null,null,null,null,null,{"$f":"MIN(MAX(-I259,0),I199,I210)","v":-1000.0000000000001},0,0,-91.960000000000036,-1232.393,-957.78899999999976,969.62058372371712,-202.52779434711601,-5.6416120074795799,0,0,0,0,0,0]
[null,null,"Less: Reduction in Debt",null,null,null,null,null,{"$f":"MIN(I222,MAX(I259,0))","v":0},{"$f":"MIN(J222,MAX(J259,0))","v":19882},63496,0,26805.237999999983,0,0,6833.7292599627763,46954.677376539759,14273.386286597983,0,0,0,0,0]
[null,null,null,"Remaining Cash Flow",null,null,null,null,{"$f":"I259+I260-I261","v":20826},{"$f":"J259+J260-J261","v":0},0,-11678.968000000001,-1232.393,-55066.070999999989,-62760.642516745946,-202.52779434711556,-5.6416120074791252,51380.370038595262,72704.129174378846,72390.273486113059,113398.26250597008,110077.51976885233,106291.70697085836]
[null,null,"Add: Increase in Cash",null,null,null,null,null,{"$f":"MAX(I262,0)","v":20826},{"$f":"MAX(J262,0)","v":0},0,0,0,0,0,0,0,51380.370038595262,72704.129174378846,72390.273486113059,113398.26250597008,110077.51976885233,106291.70697085836]
[null,null,"Less: Increase in Debt",null,null,null,null,null,{"$f":"MAX(-I262,0)","v":0},{"$f":"MAX(-J262,0)","v":0},0,11678.968000000001,1232.393,55066.070999999989,62760.642516745946,202.52779434711556,5.6416120074791252,0,0,0,0,0,0]
[]
["Balance Sheet"]
[null,"Common Equity"]
[null,null,"Open Balance",null,null,null,null,null,{"$f":"H271","v":0},{"$f":"I271","v":31043},46461,77099,66291.798999999999,67085.111000000004,35650.142,9260.8709548184816,46038.234735089238,111118.4762887775,188126.54392817547,262646.85853792215,333402.61645290314,398575.76452246308,453220.96894281579]
[null,null,"Add: Net Income",null,null,null,null,null,{"$f":"I243","v":5161},{"$f":"J243","v":16543},30593,4486,-17,-30742,-26389.271045181518,36777.36378027076,65080.241553688262,77008.067639397981,74520.314609746652,70755.757914981004,65173.148069559917,54645.204420352718,39257.180854403778]
[null,null,"Less: Dividends"]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I53,I268+I269-I270)","v":31043},46461,77099,66291.798999999999,67085.111000000004,35650.142,9260.8709548184816,46038.234735089238,111118.4762887775,188126.54392817547,262646.85853792215,333402.61645290314,398575.76452246308,453220.96894281579,492478.14979721955]
[]
[null,"Minority Interest"]
[null,null,"Opening Balance",null,null,null,null,null,{"$f":"H277","v":0},{"$f":"I277","v":0},0,0,3944.07,3551.7350000000001,3572.4369999999999,1586.1477815454768,4354.3364531787602,9252.8492582950821,15049.155424701381,20658.211363069408,25983.913571723893,30889.419340400447,35002.499243007638]
[null,null,"Add: Minority Income",null,null,null,null,null,{"$f":"I242","v":424},{"$f":"J242","v":1458},2758,3092,1146,1859,-1986.2892184545231,2768.1886716332833,4898.512805116321,5796.3061664062998,5609.0559383680275,5325.7022086544848,4905.5057686765531,4113.0799026071936,2954.8415696863062]
[null,null,"Less: Minority Dividends"]
[null,null,"Closing Balance",null,null,null,null,null,{"$f":"IF(I5,I52,I274+I275-I276)","v":0},0,0,3944.07,3551.7350000000001,3572.4369999999999,1586.1477815454768,4354.3364531787602,9252.8492582950821,15049.155424701381,20658.211363069408,25983.913571723893,30889.419340400447,35002.499243007638,37957.340812693947]
[]
[null,"Assets"]
[null,null,"Cash Balance",null,null,-1,null,null,{"$f":"I202","v":1000},1000,1000,1091.96,2324.3530000000001,3282.1419999999998,2312.5214162762827,2515.0492106233987,2520.6908226308783,53901.060861226142,126605.19003560499,198995.46352171805,312393.72602768813,422471.24579654046,528762.95276739879]
[null,null,"Restricted Cash",null,null,-1,null,null,{"$f":"I193","v":0},0,0,0,795.03,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001,14036.924000000001]
[null,null,"Accounts Receivable",null,null,null,1,null,{"$f":"I170","v":5478},35827,44920,92664.084000000003,70041.903000000006,66163.482000000004,69375.642488288489,75451.476318701956,75620.724678926344,72735.112131276808,69551.144931318588,66038.791745869967,62165.014191072027,57893.466048973736,53184.162404208641]
[null,null,"Inventories",null,null,null,1,null,{"$f":"I173","v":0},0,0,12330.853999999999,20742.14,24624.353999999999,24614.664955526809,22538.844366373814,21001.169992019066,19469.948306931728,18594.032464515021,17612.269595072397,16513.043452015074,15283.474228143976,13909.280241650633]
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[null,null,null,"EBITDA less Maintenance Cap Exp Debt Service Coverage",15,346,null,null,3.6578707916287536,5.2564518507594746,6.4435414357837706,1.5562267657992566,2.4343994184990008,-1.9200557519040271,4.2458374484256989E-2,1.2749370576809533,1.820630616580756,2.2188818081010826,2.4173053280222363,2.4692741775434541,0,0,0]
[null,null,null,"Debt to Capital",16,348,null,null,0.72046680413856445,0.64640745222493667,0.64057080520642973,0.75839674524763312,0.77139268409943906,0.7859392801727596,0.87045792573268166,0.73861198163969188,0.48041871309158207,0.26307676433879018,0.11729587962934682,0,0,0,0]
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[null,null,null,"New Debt Required",18,352,null,null,0,0,0,11678.968000000001,1232.393,55066.070999999989,62760.642516745946,202.52779434711556,5.6416120074791252,0,0,0,0,0,0]
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[]
[]
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[null,null,null,{"$f":"INDEX(D358:D377,$E$380)","v":"Balance of New Debt"},null,null,null,null,{"$f":"INDEX(I358:I377,$E$380)","v":80010},{"$f":"INDEX(J358:J377,$E$380)","v":84936},137405,220471.59299999999,238350.842,5092.9809999999707,67853.623516745924,61222.422051130263,14273.386286597983,0,0,0,0,0,0]
[]
[null,null,null,null,null,null,null,null,{"$f":"I2","v":1992},{"$f":"J2","v":1993},1994,1995,1996,1997,1997,1998,1999,2000,2001,2002,2003,2004,2005]
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[null,null,null,"Forecast",null,null,null,null,{"$f":"IF(NOT(I5),I382)","v":false},{"$f":"IF(NOT(J5),J382)","v":false},false,false,false,false,67853.623516745924,61222.422051130263,14273.386286597983,0,0,0,0,0,0]

{"sheet":"Depreciation","index":5,"n_rows":27,"n_cols":18,"rows_kept":27,"cut":false,"hidden":false,"merged":[]}
[]
[null,null,null,null,1997,{"$f":"E2+1","v":1998},{"$f":"F2+1","v":1999},{"$f":"G2+1","v":2000},2001,2002,2003,2004,2005,2006,2007,2008,2009,2010]
[]
[null,null,null,"Plane Life",13]
[null,null,null,"Historic Growth",0.1]
[null,null,null,"Units",1]
[]
[null,null,null,"Plant in Service",{"$f":"'Financial Model'!N25+'Financial Model'!N29+'Financial Model'!N28","v":385702.75199999998}]
[null,null,null,"Accum Depreciation",{"$f":"'Financial Model'!N26","v":113883.56}]
[null,null,null,"Net",{"$f":"E8-E9","v":271819.19199999998},{"$f":"E10/E8","v":0.70473749692094501}]
[]
[null,null,null,"Retirement",1]
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[]
[null,null,null,"Plant In Service"]
[null,null,null,"Opening Balance",null,{"$f":"E18","v":385702.75199999998},{"$f":"F18","v":372854.33348960814},358721.07312817709,343174.48673060292,326073.24169327138,307261.87215220666,286569.36565703549,263807.60851234721,238769.67565319009,211227.94950811725,180932.05074853712,{"$f":"P18","v":147606.56211299897},110948.52461390701]
[null,null,null,"Less: Retirements",null,{"$f":"$E$8*F13","v":12848.418510391844},{"$f":"$E$8*G13","v":14133.260361431032},15546.586397574138,17101.245037331551,18811.369541064709,20692.506495171183,22761.757144688301,25037.932859157136,27541.726145072851,30295.898759580137,33325.488635538153,36658.037499091974,40323.841249001176]
[null,null,null,"Closing Balance",{"$f":"E8","v":385702.75199999998},{"$f":"F16-F17","v":372854.33348960814},{"$f":"G16-G17","v":358721.07312817709},343174.48673060292,326073.24169327138,307261.87215220666,286569.36565703549,263807.60851234721,238769.67565319009,211227.94950811725,180932.05074853712,147606.56211299897,{"$f":"Q16-Q17","v":110948.52461390701},{"$f":"R16-R17","v":70624.683364905824}]
[null,null,null,"Depreciation",{"$f":"1/$E$4","v":7.6923076923076927E-2},{"$f":"$E$19*F16","v":29669.442461538463},{"$f":"$E$19*G16","v":28681.102576123703},27593.928702167468,26398.037440815609,25082.557053328568,23635.528627092823,22043.7973582335,20292.892962488248,18366.898127168468,16248.303808316712,13917.850057579779,{"$f":"$E$19*Q16","v":11354.350931769153},8534.5018933774627]
[]
[null,null,null,"Accumulated Depreciation"]
[null,null,null,"Opening Balance",null,{"$f":"E25","v":113883.56},{"$f":"F25","v":130704.58395114663},145252.42616583931,157299.76847043264,166596.56087391672,172867.74838618058,175810.77051810222,175092.81073164742,170347.77083497855,161172.94281707419,147125.34786581076,127717.7092878524,102414.02272052958]
[null,null,null,"Add: Depreciation",null,{"$f":"F19","v":29669.442461538463},{"$f":"G19","v":28681.102576123703},27593.928702167468,26398.037440815609,25082.557053328568,23635.528627092823,22043.7973582335,20292.892962488248,18366.898127168468,16248.303808316712,13917.850057579779,11354.350931769153,8534.5018933774627]
[null,null,null,"Less: Retirements",null,{"$f":"F17","v":12848.418510391844},{"$f":"G17","v":14133.260361431032},15546.586397574138,17101.245037331551,18811.369541064709,20692.506495171183,22761.757144688301,25037.932859157136,27541.726145072851,30295.898759580137,33325.488635538153,36658.037499091974,40323.841249001176]
[null,null,null,"Closing Balance",{"$f":"E9","v":113883.56},{"$f":"F22+F23-F24","v":130704.58395114663},{"$f":"G22+G23-G24","v":145252.42616583931},157299.76847043264,166596.56087391672,172867.74838618058,175810.77051810222,175092.81073164742,170347.77083497855,161172.94281707419,147125.34786581076,127717.7092878524,102414.02272052958,70624.683364905854]
[]
[null,null,null,"Net Plant",null,{"$f":"F18-F25","v":242149.7495384615},{"$f":"G18-G25","v":213468.64696233778},185874.71826017028,159476.68081935466,134394.12376602608,110758.59513893328,88714.797780699795,68421.904818211537,50055.006691043061,33806.702882726357,19888.852825146576,8534.5018933774263,0]

{"sheet":"Airline Fleet","index":6,"n_rows":34,"n_cols":14,"rows_kept":34,"cut":false,"hidden":false,"merged":[]}
[" NUMBER NUMBER OPERATED"]
[" OWNED BY LEASED BY IN"]
[" MANUFACTURER THE THE REVENUE MAXIMUM NUMBER STAGE III"]
[" AND MODEL SERIES(1) COMPANY COMPANY SERVICE CONFIGURATION PAYLOAD(2) COMPLIANT(3)"]
[]
[null,null,"Company",null,null,"In Revenue","Out of",null,null,null,null,null,"Noise","Not "]
[null,"Model","Owned","Leased","Total","Service","Service",null,"Min","Max","Average",null,"Complaint","Compliant"]
[]
["Boeing 747............",200,6,0,{"$f":"C9+D9","v":6},2,{"$f":"C9+D9-F9","v":4},"Freight",213000,245000,{"$f":"AVERAGE(I9:J9)","v":229000},null,6,{"$f":"C9+D9-M9","v":0}]
["Boeing 747............",100,3,0,{"$f":"C10+D10","v":3},2,{"$f":"C10+D10-F10","v":1},"Freight",218000,218000,{"$f":"AVERAGE(I10:J10)","v":218000},null,3,{"$f":"C10+D10-M10","v":0}]
["Boeing 747............",100,2,0,2,2,0,"Passenger",476,476,476,null,2,0]
["Lockheed L-1011.......",200,6,0,6,6,0,"Freight",125000,125000,125000,null,6,0]
["Lockheed L-1011.......",200,2,0,2,2,0,"Passenger",354,354,354,null,2,0]
["Douglas DC-8..........",60,11,0,11,11,0,"Freight",80000,112000,null,null,6,5]
["Douglas DC-8..........",50,9,0,9,8,1,"Freight",58500,97300,77900,null,0,9]
["Boeing 727............",200,24,4,28,28,0,"Freight",44000,63000,53500,null,10,18]
["Boeing 727............",200,4,0,4,0,4,"Passenger",160,160,160,null,1,3]
["Boeing 727............",100,1,1,2,2,0,"Freight",40000,54500,47250,null,0,2]
["Douglas DC-9..........",15,5,0,5,5,0,"Freight",22000,24000,23000,null,3,2]
[null,0,0,0,0,0,0]
[" Total.........",null,{"$f":"SUM(C9:C20)","v":73},{"$f":"SUM(D9:D20)","v":5},{"$f":"SUM(E9:E20)","v":78},{"$f":"SUM(F9:F20)","v":68},{"$f":"SUM(G9:G20)","v":10},null,null,null,null,null,{"$f":"SUM(M9:M20)","v":39},{"$f":"SUM(N9:N20)","v":39}]
[]
[null,null,null,null,null,null,null,"Concentration of Fleet After Merger measured in Capacity"]
["Total 747",null,null,null,{"$f":"SUM(E9:E11)","v":11}]
[null,null,null,null,6,null,null,null,747,727,"L-1011","DC","Total"]
[null,null,null,null,{"$f":"E24*E25","v":66},null,null,"Average Capacity",{"$f":"SUMPRODUCT(K9:K10*E9:E10)/SUM(E9:E10)","v":225333.33333333334},{"$f":"K16","v":53500},{"$f":"K12","v":125000},{"$f":"SUMPRODUCT(K14:K15,E14:E15)/SUM(E14:E15)","v":35055},{"$f":"SUM(I26:L26)","v":438888.33333333337}]
[null,null,null,null,null,null,null,"Total Planes",{"$f":"SUM(E9:E11)","v":11},{"$f":"SUM(E16:E18)","v":34},{"$f":"SUM(E12:E13)","v":8},{"$f":"F19+F14+F15","v":24},{"$f":"SUM(I27:L27)","v":77}]
["Total 727",null,null,null,{"$f":"SUM(E16:E18)","v":34},null,null,"Before Merger",null,9,null,5,14]
[null,null,null,null,null,null,null,"Kalitta",{"$f":"I27-I28","v":11},{"$f":"J27-J28","v":25},8,19,63]
[]
[null,null,null,null,null,null,null,null,{"$f":"I25","v":747},{"$f":"J25","v":727},{"$f":"K25","v":"L-1011"},{"$f":"L25","v":"DC"},"Total"]
[null,null,null,null,null,null,null,"After Merger",{"$f":"I26*I27","v":2478666.666666667},{"$f":"J26*J27","v":1819000},{"$f":"K26*K27","v":1000000},{"$f":"L26*L27","v":841320},{"$f":"SUM(I32:L32)","v":6138986.666666667}]
[null,null,null,null,null,null,null,"Before Merger",null,425250,0,65000,{"$f":"SUM(I33:L33)","v":490250}]
[null,null,null,null,null,null,null,"Kalitta",{"$f":"I32","v":2478666.666666667},{"$f":"J32","v":1819000},1000000,841320,6138986.666666667]