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I understood how the balance sheet works.
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He's not claiming with his typical adamantine force that the balance sheets work out.
Tim Geithner: They're going to have to work down their balance sheets, work down that debt.
"On balance-sheet work, so much has to be seen through including what appears a delayed Dunnhumby sale, a purported Korean disposal and further work on property and pensions".
"You're going to see us put our balance sheet to work, you're going to see us put more cash to work on the M.&A.
"Previously it was much about balance sheet and working only for the three or four top-tier banks," Mr. Buck said.
"But without them the company just doesn't appear to have the balance sheet and working capital to compete against far more capable competitors at a time when bricks-and-mortar retail is contracting at an unprecedented rate".
Although some analyst say the deal slightly overvalues Pride, Mr. Ellis said it "makes a lot of sense for Ensco too, as it puts the nearly $650 million in net cash on that firm's balance sheet to work in an accretive and fairly attractive deal".
"I truly believe if Enron had kept all this stuff on the balance sheet and worked it into its maturity schedule just like any other debt, even if it meant carrying a $3 billion higher debt load," she said, "it may not have been a strong triple-B credit but it might still be a going concern today".
The delay would give Spotify more time to build up a better balance sheet and work on shifting its business model to improve its margins, one source said.
Third-quarter earnings for the period ended Oct. 28 show a strong balance sheet and working capital accounts that track sales growth.
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