vincent9125

亲，你的depreciation不会影响cash flow
OCF = NI + D&A + Changes in working capital + gain on sale of asset - NI from affiliate
The D&A part will always be added back.
The total cash flow is for each year and as well, total.
Capitalized Lease and Operating lease will have the same total cash flow (i.e. CFO+ CFI + CFF)
The difference is capitalized will be treated as Cash Flow from Investing while Operating lease will be treated as Cash Flow from Operations

vincent9125

回复 5# wimming275

Tax没有从NI加回去，我的理解是不用回补，不管哪项，tax都要交

vincent9125

回复 8# wimming275


   Tax is not an outflow, there is also one thing called deferred tax payment or deferred tax liability or deferred tax expense. Tax on income statement is an book value not real cash flow.