A quick way to find operating cash flow... is earnings before interest and taxes (EBIT) plus depreciation and minus taxes. is the same as net income with depreciation added back in. is reported directly on the cash flow statement. It's clear we want to work with cash, not profits, when evaluating potential capital projects. But not all cash counts. We should ensure projections of future cash flows are only... incremental cash flows. cash flows from financing activities. cash flows from investing activities.