Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
- Operating Model
($ in Millions Except Per Share and Per Unit Data)
INSTRUCTIONS:
Use the following template and assumptions to build a 3-statement projection model over 5 years for Illinois To
Please clearly note any additional assumptions or modifications you make. Assume that the company's perform
the past 3 years, except where otherwise noted in the assumptions.
If you have additional time remaining at the end, please write 1-2 sentence answers for the following case stu
1) What is the MAIN reason why the company's Cash balance changes the way it does over these 5 years?
2) What would you recommend to company management as the best financing decision over the next sever
3) Would it benefit this company more to focus on sales growth or margin improvement? What would you r
General Assumptions:
Amortization of Debt: %
Interest Expense: $M
Interest Income: $M
Operating Expenses:
(+) Selling, General & Administrative: $M 2,815.0 2,678.0
(+) Amortization of Intangible Assets: $M 250.0 242.0
(+) Impairment of Goodwill: $M 2.0 3.0
Total Operating Expenses: $M 3,067.0 2,923.0
Non-Current Assets:
Net PP&E: $M 1,709.0 1,686.0
Goodwill: $M 4,886.0 4,667.0
Other Intangible Assets: $M 1,999.0 1,799.0
Other Long-Term Assets: $M 1,556.0 1,449.0
Total Non-Current Assets: $M 10,150.0 9,601.0
Non-Current Liabilities:
Long-Term Debt: $M 6,344.0 7,419.0
Deferred Tax Liability: $M 507.0 171.0
Other Long-Term Liabilities: $M 923.0 1,002.0
Total Non-Current Liabilities: $M 7,774.0 8,592.0
ssume that the company's performance will be similar to its performance over
- - - - -
- - - - -
- - - - -
- - - - -
Historical Projected
FY15 FY16 FY17 FY18 FY19 FY20
$ 13,405.0
7,888.0
5,517.0
2,417.0
231.0
2.0
2,650.0
2,867.0
21.4%
(226.0)
78.0
(148.0)
2,719.0
(820.0)
1,899.0
$ 1,899.0
Historical Projected
FY15 FY16 FY17 FY18 FY19 FY20
$ 3,090.0
2,203.0
1,086.0
341.0
6,720.0
1,577.0
4,439.0
1,560.0
1,433.0
9,009.0
$ 15,729.0
$ 449.0
1,136.0
257.0
1,842.0
7,422.0
256.0
981.0
8,659.0
$ 10,501.0
$ 5,228.0
$ 15,729.0
OK!
Historical Projected
FY15 FY16 FY17 FY18 FY19 FY20
$ 1,899.0
244.0
2.0
231.0
(11.0)
41.0
-
(42.0)
25.0
24.0
(30.0)
(56.0)
(28.0)
2,299.0
(284.0)
74.0
(210.0)
(742.0)
(1,943.0)
151.0
8.0
(2,526.0)
(463.0)
(900.0)
3,990.0
$ 3,090.0