A 1 2 3 Operating Revenues 4 Operating Expenses: 5 Salaries, wages and benefits 6 Aircraft fuel and taxes 7 Landing fees and other rents 8 Depreciation/amortization 9 Maintenance and repairs 10 Other operating expenses 11 Total Operating Expenses 12 Operating Income 13 Other income/(expense) 14 Income before taxes 15 Income tax expense 16 Net Income 17 18 19 20 Days Receivable 21 Days Inventory 22 Operating Cycle 23 Days Payable 24 Cash Cycle 25 B Jan. 2,433 689 560 132 123 111 55 1,670 763 (11) 752 160 592 Key Ratios Jan. C in K$ Feb. 2,519 691 562 139 125 112 56 1,685 834 (38) 796 171 625 Feb. D Mar. 2,525 699 564 138 127 114 58 1,700 825 (22) 803 164 639 Mar. E F Cash and equivalents Accounts receivable Fuel inventory Parts and supplies inventory Prepaid expenses Total Current Assets Property, Plant & Equipment Allowance for depreciation Net PP&E Goodwill Other assets Total Assets G Jan. 1,322 1,009 92 100 44 H in K$ Feb. 1,351 1,031 94 102 45 2,567 2,623 4,158 4,249 2,234 2,283 1,924 1,966 198 202 322 329 5,011 5,121 I Mar. 1,381 1,054 96 104 46 2,681 4,343 2,333 2,010 207 336 5,234 J K Accounts Payable Air traffic liability Accrued liabilities Curr. maturities of LTD Other current liabilities Total Current Liabilities LTD and lease obligations Pension obligations Deferred revenue Non-current operating lease Other long term liabilities Stockholder's equity Total Liab. and equity L Jan. 301 413 92 98 32 936 200 113 202 340 104 M in K$ Feb. 308 422 94 100 33 957 204 115 206 347 106 N Mar. 314 431 96 102 33 978 209 118 211 355 109 3,116 3,185 3,255 5,011 5,121 5,234 B a) Effective Annual Rate (EAR) A 1 2 3 Notional purchase 4 Discount (%) 5 Days difference 6 7 Discount ($) 8 Rate (%) 9 Days difference in 1 year 10 11 EAR 12 13 14 15 16 17 1,000.00 0.20% 8 C D b) Average Collection Period Gross revenue Avg. receivables before new policy % paying early Avg. receivables after new policy Change in receivables Cost of capital Projected savings in capital costs minus: discounts Projected savings net of discounts Gross margin Gross revenues must rise by: - in dollars - in percent E 2,525,000 55.0% 6.5% 22.0% FL G H Use the March days receivable I Mix of March days and days difference If positive, gross revenues can fall A 1 2 3 Operating Revenues 4 Operating Expenses: 5 Salaries, wages and benefits 6 Aircraft fuel and taxes 7 Landing fees and other rents 8 Depreciation/amortization 9 Maintenance and repairs 10 Other operating expenses 11 Total Operating Expenses 12 Operating Income 13 Other income/(expense) 14 Income before taxes 15 Income tax expense 16 Net Income 17 18 19 20 Days Receivable 21 Days Inventory 22 Operating Cycle 23 Days Payable 24 Cash Cycle 25 B Jan. 2,433 689 560 132 123 111 55 1,670 763 (11) 752 160 592 Key Ratios Jan. C in K$ Feb. 2,519 691 562 139 125 112 56 1,685 834 (38) 796 171 625 Feb. D Mar. 2,525 699 564 138 127 114 58 1,700 825 (22) 803 164 639 Mar. E F Cash and equivalents Accounts receivable Fuel inventory Parts and supplies inventory Prepaid expenses Total Current Assets Property, Plant & Equipment Allowance for depreciation Net PP&E Goodwill Other assets Total Assets G Jan. 1,322 1,009 92 100 44 H in K$ Feb. 1,351 1,031 94 102 45 2,567 2,623 4,158 4,249 2,234 2,283 1,924 1,966 198 202 322 329 5,011 5,121 I Mar. 1,381 1,054 96 104 46 2,681 4,343 2,333 2,010 207 336 5,234 J K Accounts Payable Air traffic liability Accrued liabilities Curr. maturities of LTD Other current liabilities Total Current Liabilities LTD and lease obligations Pension obligations Deferred revenue Non-current operating lease Other long term liabilities Stockholder's equity Total Liab. and equity L Jan. 301 413 92 98 32 936 200 113 202 340 104 M in K$ Feb. 308 422 94 100 33 957 204 115 206 347 106 N Mar. 314 431 96 102 33 978 209 118 211 355 109 3,116 3,185 3,255 5,011 5,121 5,234 B a) Effective Annual Rate (EAR) A 1 2 3 Notional purchase 4 Discount (%) 5 Days difference 6 7 Discount ($) 8 Rate (%) 9 Days difference in 1 year 10 11 EAR 12 13 14 15 16 17 1,000.00 0.20% 8 C D b) Average Collection Period Gross revenue Avg. receivables before new policy % paying early Avg. receivables after new policy Change in receivables Cost of capital Projected savings in capital costs minus: discounts Projected savings net of discounts Gross margin Gross revenues must rise by: - in dollars - in percent E 2,525,000 55.0% 6.5% 22.0% FL G H Use the March days receivable I Mix of March days and days difference If positive, gross revenues can fall
