BCO » Topics » Reconciliation of Net Debt to GAAP measures

This excerpt taken from the BCO 10-Q filed Aug 2, 2007.

Reconciliation of Net Debt to GAAP measures

 

     June 30,     December 31,  

(In millions)

   2007     2006  

Short-term debt

   $ 10.0     33.4  

Long-term debt

     129.9     136.8  
              

Debt

     139.9     170.2  

Less cash and cash equivalents

     (143.9 )   (137.2 )
              

Net Debt (Cash) (a)

   $ (4.0 )   33.0  
              

(a) Net Debt is a non-GAAP measure. Net Debt is equal to short-term debt plus the current and noncurrent portion of long-term debt (“Debt” in the tables), less cash and cash equivalents. The Company’s Net Debt was a negative amount at June 30, 2007, because its cash and cash equivalents balance exceeded its debt balance.

The supplemental Net Debt information is non-GAAP financial information that management believes is an important measure to evaluate the Company’s financial leverage. This supplemental non-GAAP information does not affect any reported amounts, and should be viewed in conjunction with the Company’s consolidated balance sheets. The Company’s Net Debt position at June 30, 2007, as compared to December 31, 2006, improved primarily due to cash generated from operating activities.

This excerpt taken from the BCO 10-Q filed May 3, 2007.

Reconciliation of Net Debt to GAAP measures

 

(In millions)

   March 31,
2007
    December 31,
2006
 

Short-term debt

   $ 26.7     33.4  

Long-term debt

     117.7     136.8  
              

Debt

     144.4     170.2  

Less cash and cash equivalents

     (139.6 )   (137.2 )
              

Net Debt (a)

   $ 4.8     33.0  
              

(a) Net Debt is a non-GAAP measure. Net Debt is equal to short-term debt plus the current and noncurrent portion of long-term debt (“Debt” in the tables), less cash and cash equivalents.

The supplemental Net Debt information is non-GAAP financial information that management believes is an important measure to evaluate the Company’s financial leverage. This supplemental non-GAAP information does not affect any reported amounts, and should be viewed in conjunction with the Company’s consolidated balance sheets. The Company’s Net Debt position at March 31, 2007, as compared to December 31, 2006, improved primarily due to the repayment of long-term debt with the increased cash generated from operating activities.

 

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EXCERPTS ON THIS PAGE:

10-Q
Aug 2, 2007
10-Q
May 3, 2007

RELATED TOPICS for BCO:

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