Homework SourseI need help with calculating invested capital Consolidated B
| I need help with calculating invested capital! Consolidated Balance Sheets | ||
| $000 | Dec. 31, 2014 | Dec. 31, 2015 |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 105,132 | 107,590 |
| Restricted cash | 45,621 | 55,241 |
| Restricted investments | 24,510 | 23,215 |
| Accounts receivable, net | 478,999 | 422,421 |
| Equipment sales receivable | 288 | 0 |
| Income tax refund receivable | 18,455 | 11,664 |
| Inventories and supplies | 18,992 | 18,426 |
| Assets held for sale | 2,907 | 9,084 |
| Prepaid taxes, licenses, insurance and other | 51,441 | 48,149 |
| Current portion of notes receivable | 9,202 | 9,817 |
| Total current assets | 755,547 | 705,607 |
| Property and equipment, at cost: | ||
| Revenue and service equipment | 2,061,835 | 2,278,618 |
| Land | 122,835 | 131,693 |
| Facilities and improvements | 268,025 | 269,769 |
| Furniture and office equipment | 67,740 | 99,519 |
| Total property and equipment | 2,520,435 | 2,779,599 |
| Less: accumulated depreciation and amortization | (978,305) | (1,128,499) |
| Net property and equipment | 1,542,130 | 1,651,100 |
| Other assets | 41,855 | 29,353 |
| Intangible assets, net | 299,933 | 283,119 |
| Goodwill | 253,256 | 253,256 |
| Total assets | 2,892,721 | 2,922,435 |
| LIABILITIES AND SHAREHOLDERS\' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 160,186 | 121,827 |
| Accrued liabilities | 98,719 | 97,313 |
| Current portion of claims accruals | 81,251 | 84,429 |
| Current portion of long-term debt | 31,445 | 35,582 |
| Current portion of capital lease obligations | 42,902 | 59,794 |
| Fair value of interest rate swaps | 6,109 | 0 |
| Total current liabilities | 420,612 | 398,945 |
| Revolving line of credit | 57,000 | 200,000 |
| Long-term debt, less current portion | 871,615 | 645,290 |
| Capital lease obligations, less current portion | 158,104 | 222,001 |
| Claims accruals, less current portion | 143,693 | 149,281 |
| Deferred income taxes | 437,389 | 463,832 |
| Accounts receivable securitization | 334,000 | 225,000 |
| Other liabilities | 14 | 959 |
| Total liabilities | 2,422,427 | 2,305,308 |
| Commitments and contingencies (notes 13, 14 and 15) | ||
| Stockholders’ equity: | ||
| Preferred stock | 0 | 0 |
| Additional paid-in capital | 781,124 | 754,589 |
| Retained earnings: Accumulated deficit | (310,017) | (139,033) |
| Accumulated other comprehensive income (loss) | (2,336) | 81 |
| Noncontrolling interest | 102 | 102 |
| Class A Common Stock | 911 | 878 |
| Class B Common Stock | 510 | 510 |
| Total stockholders’ equity | 470,294 | 617,127 |
| Total liabilities and stockholders’ equity | 2,892,721 | 2,922,435 |
| I need help with calculating invested capital! Consolidated Balance Sheets | ||
| $000 | Dec. 31, 2014 | Dec. 31, 2015 |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 105,132 | 107,590 |
| Restricted cash | 45,621 | 55,241 |
| Restricted investments | 24,510 | 23,215 |
| Accounts receivable, net | 478,999 | 422,421 |
| Equipment sales receivable | 288 | 0 |
| Income tax refund receivable | 18,455 | 11,664 |
| Inventories and supplies | 18,992 | 18,426 |
| Assets held for sale | 2,907 | 9,084 |
| Prepaid taxes, licenses, insurance and other | 51,441 | 48,149 |
| Current portion of notes receivable | 9,202 | 9,817 |
| Total current assets | 755,547 | 705,607 |
| Property and equipment, at cost: | ||
| Revenue and service equipment | 2,061,835 | 2,278,618 |
| Land | 122,835 | 131,693 |
| Facilities and improvements | 268,025 | 269,769 |
| Furniture and office equipment | 67,740 | 99,519 |
| Total property and equipment | 2,520,435 | 2,779,599 |
| Less: accumulated depreciation and amortization | (978,305) | (1,128,499) |
| Net property and equipment | 1,542,130 | 1,651,100 |
| Other assets | 41,855 | 29,353 |
| Intangible assets, net | 299,933 | 283,119 |
| Goodwill | 253,256 | 253,256 |
| Total assets | 2,892,721 | 2,922,435 |
| LIABILITIES AND SHAREHOLDERS\' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 160,186 | 121,827 |
| Accrued liabilities | 98,719 | 97,313 |
| Current portion of claims accruals | 81,251 | 84,429 |
| Current portion of long-term debt | 31,445 | 35,582 |
| Current portion of capital lease obligations | 42,902 | 59,794 |
| Fair value of interest rate swaps | 6,109 | 0 |
| Total current liabilities | 420,612 | 398,945 |
| Revolving line of credit | 57,000 | 200,000 |
| Long-term debt, less current portion | 871,615 | 645,290 |
| Capital lease obligations, less current portion | 158,104 | 222,001 |
| Claims accruals, less current portion | 143,693 | 149,281 |
| Deferred income taxes | 437,389 | 463,832 |
| Accounts receivable securitization | 334,000 | 225,000 |
| Other liabilities | 14 | 959 |
| Total liabilities | 2,422,427 | 2,305,308 |
| Commitments and contingencies (notes 13, 14 and 15) | ||
| Stockholders’ equity: | ||
| Preferred stock | 0 | 0 |
| Additional paid-in capital | 781,124 | 754,589 |
| Retained earnings: Accumulated deficit | (310,017) | (139,033) |
| Accumulated other comprehensive income (loss) | (2,336) | 81 |
| Noncontrolling interest | 102 | 102 |
| Class A Common Stock | 911 | 878 |
| Class B Common Stock | 510 | 510 |
| Total stockholders’ equity | 470,294 | 617,127 |
| Total liabilities and stockholders’ equity | 2,892,721 | 2,922,435 |
Solution
FormuIa for invested capital= Total assets - Non interest bearing current liabilities and deferred tax liabilities(if any).
Average invested capital = (2196427+2239463)/2
=2217945.
| Particulars | 31-12-2014 | 31-12-2015 |
| Total Assets(a) | 2892721 | 2922435 |
| Minus: | ||
| Accounts payable | 160186 | 121827 |
| Accured liabilities | 98719 | 97313 |
| Deferred income tax liabilities | 437389 | 463832 |
| Total non interest bearing liabilities(2) | 696294 | 682972 |
| Invested capital(C )=(a)-(b) | 2196427 | 2239463 |
