Free Cash Flows Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) | 2013 | | 2012 | Sales | $6,600.0 | | $5,500.0 | Operating costs excluding depreciation | 4,950.0 | | 4,675.0 | Depreciation and amortization | 157.0 | | 121.0 | Earnings before interest and taxes | $1,493.0 | | $704.0 | Less: Interest | 142.0 | | 118.0 | Pre-tax income | $1,351.0 | | $586.0 | Taxes (40%) | 540.4 | | 234.4 | Net income available to common stockholders | $810.6 | | $351.6 | Common dividends | $730.0 | | $281.0 | Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) | 2013 | | 2012 | Assets | Cash | $73.0 | | $61.0 | Short-term investments | 34.0 | | 28.0 | Accounts receivable | 1,031.0 | | 825.0 | Inventories | 1,444.0 | | 1,155.0 | Total current assets | $2,582.0 | | $2,069.0 | Net plant and equipment | 1,573.0 | | 1,210.0 | Total assets | $4,155.0 | | $3,279.0 | Liabilities and Equity | Accounts payable | $396.0 | | $330.0 | Accruals | 550.0 | | 440.0 | Notes payable | 132.0 | | 110.0 | Total current liabilities | $1,078.0 | | $880.0 | Long-term bonds | 1,320.0 | | 1,100.0 | Total liabilities | $2,398.0 | | $1,980.0 | Common stock | 1,570.4 | | 1,193.0 | Retained earnings | 186.6 | | 106.0 | Total common equity | $1,757.0 | | $1,299.0 | Total liabilities and equity | $4,155.0 | | $3,279.0 | Using Rhodes Corporation's financial statements (shown above), answer the following questions. - What is the net operating profit after taxes (NOPAT) for 2013? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to one decimal place. $ million
- What are the amounts of net operating working capital for both years? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place. 2013 $ million 2012 $ million
- What are the amounts of total net operating capital for both years? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place. 2013 $ million 2012 $ million
- What is the free cash flow for 2013? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to one decimal place. $ million
- What is the ROIC for 2013? Round your answer to two decimal places. %
- How much of the FCF did Rhodes use for each of the following purposes: after-tax interest, net debt repayments, dividends, net stock repurchases, and net purchases of short-term investments? (Hint: Remember that a net use can be negative.) Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to one decimal place.
After-tax interest payment | $ million | Reduction (increase) in debt | $ million | Payment of dividends | $ million | Repurchase (Issue) stock | $ million | Purchase (Sale) of short-term investments | $ million | |