what is the FLEV ?

Suppo 2013 Reformulation for Multi-Year Capitalization of Operating Leases Use the information provided below for Southwest Airlines to answer the requirements. Smillions 2014 2015 Net operating assets (NOA) $ 7,559 57.034 $8,040 Net nonoperating obligations (NNO) (332) (296) 127 Total stockholders' equity 7,891 7.330 7.913 Net nonoperating expenses (NNE) 141 140 128 Net operating profit after tax (NOPAT) 895 1.276 2.309 Net income 754 1,136 2.181 Revenue 19,921 20.827 22.042 Below are the adjustments that analysts would use to account for Southwest's operating leases as if they were capitalized. Adjustments are operating leases for fiscal years 2013-2015. Balance Sheet Adjustments (millions) 2013 2014 2015 Net operating assets (NOA) +3,267 4.244 +3.188 Net nonoperating obligations (NNO) +3.267-4244 +3.188 Equity 0 0 Income Statement Adjustments (5 millions) 2013 2014 2015 Interest expense +129 +1671 +126 Net nonoperating expense. NNE 31-105-79 Net operating profit after tax NOPAT +81 +105-79 Net Income 0 0 Below are the adjustments that analysts would use to account for Southwest operatings as if they were capitaled. Adjustments are based on the present value of Scott operating leases for fiscal years 2013-2015 Balance Sheet Adjustments (5 millions 2013 2014 2015 Net operating at INOA 26 244 +1 Net operating obligation NNO) 176 1434 Fauty 0 Income Statement Adjustments (milion 2013 2014 2013 interest expense 129 1624126 Toneet NNE 10679 Net operating profiter tak. NOW Not income . 0 0 a. Compute the following ratios using the unadjusted and the adjusted numbers for each year. For simplicity only use year and balances for NOA NNO, duty . Round ROE, RNOA and NOPM to one decimal place tex 0.2345 22:54 Round NDAT and FLEV to two decimal places Use negative signs with answers, when appropriate 2013 2015 Unadjusted Adjusted Uradjusted Adjusted United Adjusted HE 155 155 213 13 11.11 10 105 NOM NOR 1.64 1 206 1.05 OX (PLEV OM OM ON