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Revenue jumped 12percentto to $1.62 billion, as cash flow rose 15percentto to $768 million.
Those securities were quickly sold, and the proceeds were booked as cash flow from operations.
El Paso was able to book "management fees" it collected from the off-balance-sheet vehicles as cash flow from operations; without the partnerships, the financing would have to be accounted for as cash flow from financing activities.
Citigroup supposedly provided loans that were misleadingly recorded on Enron's books as cash flow from oil-trading operations.
By next year, as cash flow grows, that ratio could shrink to about 2.4, Mr. Bourkoff said.
The company, which provides local telephone service in nine Southeastern states, said free cash flow -- defined as cash flow from operations after capital expenditures -- was $1.1 billion.
Similar(19)
Local land prices skyrocket as cash flows in from overseas workers.
As cash flowed into AHL and its numerous spin-offs, Man became a wonderful investment.
Transatlantic harmony evaporated as cash flowed out of Lehman's London operations in 2008.
What that means for a manager is a lot of trading, as cash flows in and out rapidly.
"This will eliminate the primary dampening effect on the market as cash flows into these legitimate businesses, and will leave the Caribbean-based casinos at a tremendous disadvantage".
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