Description
Excel Sheet containing Income Statement and Financial analysis of Ever Trust Bank
ASSUMPTIONS
Investment Securities Loans Receivable FHLB Stock Accrued interest receivable Prepaid Expenses and other assets Depreciation Advances from the Federal Home Loan Bank Other Liabilities Assets Growth Rate Deposit Growth Rate
Loans Receivables Loans Receivable - Interest Loans receivables interest % Investment Securities Investment Securities - Interest Investment securities interest %
Deposits Deposits - Interest Interest % Borrowings Borrowings - Interest paid Interest % Inflation rate employee growth rate Office premises and equipment(net) Occupancy and Equipment Interest % Data processing Provision For Loans Loan Service Fees Gain On Sale of securities, loans and other assets Other Other Operating Assumed Tax Rate Dividend Payout Ratio
Total Equity/Total Liabilities Total Liabilities Required Equity Equity Excl. Common Stock Common Stock Total No. Of Shares Growth Rate WACC Rf (risk free rate) Risk Premium Beta Unlevered beta beta for ever trust Cost of equity Kd WACC
ASSUMPTIONS
2001 71661 483,911.0 4,652.0 3,847.0 6,407.0 11% 80344 4270 9.80% 12.60% 129338 4036 100984 5215 2002 54858 575,271.0 5,946.0 3,638.0 6,734.0 2003 37967 604,955.0 6,334.0 3,280.0 7,294.0
483911 40173 8.30% 71661 6299 8.79%
575271 43021 7.48% 54858 4012 7.31%
604955 42798 7.07% 37967 3138 8.27%
397643 19169 4.82% 84614.0 3879 4.58% 5% 10%
449611 16219 3.61% 133374.0 5114 3.83%
508269 13581 2.67% 106199.0 5702 5.37%
growth assumed equal to deposit growth Provision of Loans Receivable in 2005 budget Growth Assumed to be equal to Loans Receivable
Average of previous 4 years
9542.0 10196.0 9074.0 2618 2925 3103 27.4365961 28.68772067 34.19660569 12.6% 0.075% 11.046% 9% 1,459.0 1,615.0 2,271.0 4,432.0 4,376.0 5,503.0 34% 41.000%
87% 13.18% 823,922.4 108,576.1 80,192.2 28,383.9 6890160 9% 5.40% 10 year treasury bond rate 2004 Assumed levered of omparable company Debt / equity - 87:13 22.90% 4.37% 5.484911881 4% 7% 1.3 0.35 2.7 921,375.6 121,418.4 88,677.2 32,741.2 1,030,655.5 135,819.2 98,033.3 37,786.0
2004 2005 69878 89000 662,642.0 707,000.0 6,650.0 7,491.2 3,301.0 3,322.0 5,400.0 5,100.8 128531 4574 107347 4680
-0.84% 11.05% 12.65% -4.97% -5.54% 7.51% 2.32%
662642 40588 6.13% 69878 2586 3.70%
7.24%
7.02%
546388 11929 2.18% 133105.0 4902 3.68%
3.32%
4.37%
7206.0 2958 41.04912573
32.84251
2,431.0 4,388.0
18.55% -0.33%
1,153,218.8 151,970.6 108,312.0 43,658.5
Income Statement
2001 Interest Income Loans Receivable Investment Securities Total Interest Income Interest Expenses Deposits Borrowings Total Interest Expenses Net Interest Income Provision for loan losses Net Interest Income After Provision Noninterest income Loan Service Fees Gain On Sale of securities, loans and other assets Other Total Noninterest income General, administrative and other expenses Employee compensation and benefits Occupancy and Equipment Data processing Other Operating Total Noninterest Expenses Income before taxes Income tax expenses Net Income(loss) No. Of Shares Outstanding Basic earnings per common share Diluted earnings per common share Cash Dividends Per Share Retained Earnings Tax Rate 40,173.0 6,299.0 46,472.0 2002 43,021.0 4,012.0 47,033.0 2003 42,798.0 3,138.0 45,936.0 2004 40,588.0 2,586.0 43,174.0
19,169.0 3,879.0 23,048.0 17,125.0 1,005.0 22,419.0
16,219.0 5,114.0 21,333.0 21,688.0 1,500.0 24,200.0
13,581.0 5,702.0 19,283.0 23,515.0 390.0 26,263.0
11,929.0 4,902.0 16,831.0 23,757.0 525.0 25,818.0
742.0 431.0 1,459.0 2,632.0
1,257.0 471.0 1,615.0 3,343.0
2,401.0 1,075.0 2,271.0 5,747.0
2,431.0 1,412.0 2,431.0 6,274.0
9,391.0 2,618.0 962.0 4,432.0 17,403.0 7,648.0 2,291.0 5,357.0 10887365 0.47 0.47
10,965.0 2,925.0 1,103.0 4,376.0 19,369.0 8,174.0 2,595.0 5,579.0 7755854 0.65 0.63
12,406.0 3,103.0 1,455.0 5,503.0 22,467.0 9,543.0 2,702.0 6,841.0 7252169 0.96 0.9
11,691.0 2,958.0 1,491.0 4,388.0 20,528.0 11,564.0 4,518.0 7,046.0 6890160 1.01 0.95
ement
2005 40,142.5 2,836.0 42,978.5 2006 56,880.1 6,193.2 63,073.3 2007 63,163.3 6,141.4 69,304.7 2008 70,140.6 6,090.0 76,230.6 2009 77,888.6 6,039.1 83,927.7
11,365.8 4,358.2 15,724.0 24,418.5 530.0 26,724.5
23,370.2 5,248.7 28,618.9 34,454.3 588.8 33,865.5
26,314.9 5,632.2 31,947.1 37,357.6 653.9 36,703.7
29,630.5 6,044.3 35,674.9 40,555.7 726.1 39,829.6
33,364.0 6,487.1 39,851.1 44,076.6 806.3 43,270.3
3,460.4 1,179.6 3,316.5 7,956.5
3,842.6 1,285.8 3,931.8 9,060.2
4,267.1 1,401.5 4,661.2 10,329.8
4,738.5 1,527.6 5,526.0 11,792.1
5,261.9 1,665.1 6,551.2 13,478.2
11,110.4 3,058.8 1,566.7 5,085.8 20,821.7 13,859.3 4,766.6 9,092.7 6890160 1.32
12,832.5 1,671.9 1,764.1 5,068.9 21,337.5 21,588.2 7,340.0 14,248.2 6890160 2.07
14,821.6 1,488.0 1,986.4 5,052.1 23,348.0 23,685.5 8,053.1 15,632.4 6890160 2.27
17,118.9 1,324.3 2,236.7 5,035.3 25,715.2 25,906.5 8,808.2 17,098.3 6890160 2.48
19,772.3 1,178.7 2,518.5 5,018.6 28,488.1 28,260.4 9,608.5 18,651.9 6890160 2.71
3728 5,364.7 0.34
5842 8,406.5 0.34
6409 9,223.1 0.34
7010 10,088.0 0.34
7647 11,004.6 0.34
Balance Sheet
2001 Assets Cash and cash equivalents Investment Securities(AFS) Investment Securities(HTM) Loans Receivable Office premises and equipment(net) FHLB Stock Accrued interest receivable Prepaid Expenses and other assets 2002 2003 22,383.0 19,166.0 37,259.0 63,299.0 49,903.0 34,167.0 8,362.0 4,955.0 3,800.0 483,911.0 575,271.0 604,955.0 9,542.0 10,196.0 9,074.0 4,652.0 5,946.0 6,334.0 3,847.0 3,638.0 3,280.0 6,407.0 6,734.0 7,294.0 Total Assets 602,403.0 675,809.0 706,163.0
Liabilities Deposits Advances from the Federal Home Loan Bank Other Liabilities
397,643.0 449,611.0 508,269.0 80,344.0 129,338.0 100,984.0 4,270.0 4,036.0 5,215.0 Total Liabilities 482,257.0 582,985.0 614,468.0
Shareholders Equity Common Stock 68,940.0 Employee Stock Ownership Plan Debt -1,188.0 Retained Earnings 55,033.0 Accumulated other comprehensive Income 395.0 Shares held in trust for stock-related compensation plan -3,034.0 Total shareholders' equity 120,146.0
37,390.0 -792.0 58,019.0 374.0 -2,167.0 92,824.0
30,613.0 -396.0 62,542.0 237.0 -1,301.0 91,695.0
Total Liabilities and shareholders' equity 602,403.0 675,809.0 706,163.0 Book Value Per Share Market Price Earnings Per Share Price To Book Value Price To Earnings
e Sheet
2004 14,995.0 67,567.0 2,311.0 662,642.0 7,206.0 6,650.0 3,301.0 5,400.0 770,072.0 2005 7,366.0 89,000.0 2006 37,640.2 88,255.7 2007 61,865.4 87,517.5 2008 89,670.3 86,785.6 2009 121,636.5 86,059.8
707,000.0 785,098.1 871,823.1 968,128.2 1,075,071.5 5,720.0 5,090.8 4,530.8 4,032.4 3,588.9 7,491.2 8,438.7 9,506.1 10,708.6 12,063.1 3,322.0 3,156.8 2,999.7 2,850.5 2,708.7 5,100.8 4,818.2 4,551.3 4,299.1 4,060.9 825,000.0 932,498.4 1,042,794.0 1,166,474.7 1,305,189.4
546,388.0 128,531.0 4,574.0 679,493.0
625,000.0 703,750.0 107,347.0 115,411.5 4,653.0 4,760.9 737,000.0 823,922.4
792,422.5 892,267.7 1,004,693.5 124,081.8 133,403.5 143,425.5 4,871.3 4,984.3 5,099.9 921,375.6 1,030,655.5 1,153,218.8
23,819.0 0.0 66,738.0 431.0 -409.0 90,579.0 770,072.0
15,469.9 28,383.9 0.0 0.0 72,102.7 80,509.2 427.4 -316.9 0.0 0.0 88,000.0 108,576.1
32,741.2 0.0 89,732.3 -1,055.1 0.0 121,418.4
37,786.0 0.0 99,820.3 -1,787.0 0.0 135,819.2
43,658.5 0.0 110,824.9 -2,512.8 0.0 151,970.6
825,000.0 932,498.4 1,042,794.0 1,166,474.8 1,305,189.4 12.8 17.9 1.32 1.4 13.56 15.8 2.07 17.6 2.27 19.7 2.48 22.1 2.71
Cash Flow Statemen
2005 Opening Balance Of Cash Cash From Operations Funds From Operations Accrued interest receivable Prepaid Expenses and other assets Deposits Total Cash From Operations Cash From Investing Activities Increase in Loans Receivable Increase in FHLB Stock Investments Purchased Total Cash From Investing Cash From Financing Activities Advances from the Federal Home Loan Bank Other Liabilities Dividends Paid Common Stock Total Cash From Financing Closing Cash Free Cash Flow To Firm Free Cash Flow To Equity N
f Years Cost Of Equity Total Equity Value Nf Shares Share Value -21,184.0 79.0 -3,728.0 -8,349.1 -33,182.1 -7,629.0 7,366.0 35,869.2 25553.12 25553.12 1 22.90% 20,791.80 121,462.33 121,462,331.45 6890160 Rs. 17.63 8,064.5 107.9 -5,841.8 12,913.9 15,244.6 30,274.2 37,640.2 8,670.3 110.4 -6,409.3 4,357.3 6,728.8 24,225.2 61,865.4 9,321.7 113.0 -7,010.3 5,044.8 7,469.1 27,804.9 89,670.3 43,881.2 20335.79 20335.79 4 22.90% 8,913.61 14,995.0 2006 7,366.0 2007 37,640.2 2008 61,865.4
10,578.7 14,877.4 16,192.4 17,596.7 -21.0 165.2 157.0 149.2 299.2 282.6 266.9 252.2 78612 78750 88672.5 99845.23 89,468.9 94,075.3 105,288.9 117,843.3
-44,358.0 -78,098.1 -86,725.1 -96,305.1 -841.2 -947.6 -1,067.4 -1,202.4 -18716.6 -63,915.8 -79,045.6 -87,792.5 -97,507.5
33,918.2 38,581.5 15029.67 17496.39 15029.67 17496.39 2 3 22.90% 22.90% 9,950.52 9,425.25
Flow Statement
2009 89,670.3 Funds From Operation Net Income Depreciation Funds From Operations 2005 2006 2007 2008 2009 9,092.7 14,248.2 15,632.4 17,098.3 18,651.9 1,486.0 629.2 560.0 498.4 443.6 10,578.7 14,877.4 16,192.4 17,596.7 19,095.4
19,095.4 141.8 238.2 112425.735 131,901.2
-106,943.3 -1,354.5 -108,297.9
10,022.0 115.6 -7,647.3 5,872.5 8,362.8 31,966.2 121,636.5 49,905.0 202948.08 23603.31 5 22.90% 8,418.09 103797.7083 179344.77 5 22.90% 63,963.07
doc_803903504.xls
Excel Sheet containing Income Statement and Financial analysis of Ever Trust Bank
ASSUMPTIONS
Investment Securities Loans Receivable FHLB Stock Accrued interest receivable Prepaid Expenses and other assets Depreciation Advances from the Federal Home Loan Bank Other Liabilities Assets Growth Rate Deposit Growth Rate
Loans Receivables Loans Receivable - Interest Loans receivables interest % Investment Securities Investment Securities - Interest Investment securities interest %
Deposits Deposits - Interest Interest % Borrowings Borrowings - Interest paid Interest % Inflation rate employee growth rate Office premises and equipment(net) Occupancy and Equipment Interest % Data processing Provision For Loans Loan Service Fees Gain On Sale of securities, loans and other assets Other Other Operating Assumed Tax Rate Dividend Payout Ratio
Total Equity/Total Liabilities Total Liabilities Required Equity Equity Excl. Common Stock Common Stock Total No. Of Shares Growth Rate WACC Rf (risk free rate) Risk Premium Beta Unlevered beta beta for ever trust Cost of equity Kd WACC
ASSUMPTIONS
2001 71661 483,911.0 4,652.0 3,847.0 6,407.0 11% 80344 4270 9.80% 12.60% 129338 4036 100984 5215 2002 54858 575,271.0 5,946.0 3,638.0 6,734.0 2003 37967 604,955.0 6,334.0 3,280.0 7,294.0
483911 40173 8.30% 71661 6299 8.79%
575271 43021 7.48% 54858 4012 7.31%
604955 42798 7.07% 37967 3138 8.27%
397643 19169 4.82% 84614.0 3879 4.58% 5% 10%
449611 16219 3.61% 133374.0 5114 3.83%
508269 13581 2.67% 106199.0 5702 5.37%
growth assumed equal to deposit growth Provision of Loans Receivable in 2005 budget Growth Assumed to be equal to Loans Receivable
Average of previous 4 years
9542.0 10196.0 9074.0 2618 2925 3103 27.4365961 28.68772067 34.19660569 12.6% 0.075% 11.046% 9% 1,459.0 1,615.0 2,271.0 4,432.0 4,376.0 5,503.0 34% 41.000%
87% 13.18% 823,922.4 108,576.1 80,192.2 28,383.9 6890160 9% 5.40% 10 year treasury bond rate 2004 Assumed levered of omparable company Debt / equity - 87:13 22.90% 4.37% 5.484911881 4% 7% 1.3 0.35 2.7 921,375.6 121,418.4 88,677.2 32,741.2 1,030,655.5 135,819.2 98,033.3 37,786.0
2004 2005 69878 89000 662,642.0 707,000.0 6,650.0 7,491.2 3,301.0 3,322.0 5,400.0 5,100.8 128531 4574 107347 4680
-0.84% 11.05% 12.65% -4.97% -5.54% 7.51% 2.32%
662642 40588 6.13% 69878 2586 3.70%
7.24%
7.02%
546388 11929 2.18% 133105.0 4902 3.68%
3.32%
4.37%
7206.0 2958 41.04912573
32.84251
2,431.0 4,388.0
18.55% -0.33%
1,153,218.8 151,970.6 108,312.0 43,658.5
Income Statement
2001 Interest Income Loans Receivable Investment Securities Total Interest Income Interest Expenses Deposits Borrowings Total Interest Expenses Net Interest Income Provision for loan losses Net Interest Income After Provision Noninterest income Loan Service Fees Gain On Sale of securities, loans and other assets Other Total Noninterest income General, administrative and other expenses Employee compensation and benefits Occupancy and Equipment Data processing Other Operating Total Noninterest Expenses Income before taxes Income tax expenses Net Income(loss) No. Of Shares Outstanding Basic earnings per common share Diluted earnings per common share Cash Dividends Per Share Retained Earnings Tax Rate 40,173.0 6,299.0 46,472.0 2002 43,021.0 4,012.0 47,033.0 2003 42,798.0 3,138.0 45,936.0 2004 40,588.0 2,586.0 43,174.0
19,169.0 3,879.0 23,048.0 17,125.0 1,005.0 22,419.0
16,219.0 5,114.0 21,333.0 21,688.0 1,500.0 24,200.0
13,581.0 5,702.0 19,283.0 23,515.0 390.0 26,263.0
11,929.0 4,902.0 16,831.0 23,757.0 525.0 25,818.0
742.0 431.0 1,459.0 2,632.0
1,257.0 471.0 1,615.0 3,343.0
2,401.0 1,075.0 2,271.0 5,747.0
2,431.0 1,412.0 2,431.0 6,274.0
9,391.0 2,618.0 962.0 4,432.0 17,403.0 7,648.0 2,291.0 5,357.0 10887365 0.47 0.47
10,965.0 2,925.0 1,103.0 4,376.0 19,369.0 8,174.0 2,595.0 5,579.0 7755854 0.65 0.63
12,406.0 3,103.0 1,455.0 5,503.0 22,467.0 9,543.0 2,702.0 6,841.0 7252169 0.96 0.9
11,691.0 2,958.0 1,491.0 4,388.0 20,528.0 11,564.0 4,518.0 7,046.0 6890160 1.01 0.95
ement
2005 40,142.5 2,836.0 42,978.5 2006 56,880.1 6,193.2 63,073.3 2007 63,163.3 6,141.4 69,304.7 2008 70,140.6 6,090.0 76,230.6 2009 77,888.6 6,039.1 83,927.7
11,365.8 4,358.2 15,724.0 24,418.5 530.0 26,724.5
23,370.2 5,248.7 28,618.9 34,454.3 588.8 33,865.5
26,314.9 5,632.2 31,947.1 37,357.6 653.9 36,703.7
29,630.5 6,044.3 35,674.9 40,555.7 726.1 39,829.6
33,364.0 6,487.1 39,851.1 44,076.6 806.3 43,270.3
3,460.4 1,179.6 3,316.5 7,956.5
3,842.6 1,285.8 3,931.8 9,060.2
4,267.1 1,401.5 4,661.2 10,329.8
4,738.5 1,527.6 5,526.0 11,792.1
5,261.9 1,665.1 6,551.2 13,478.2
11,110.4 3,058.8 1,566.7 5,085.8 20,821.7 13,859.3 4,766.6 9,092.7 6890160 1.32
12,832.5 1,671.9 1,764.1 5,068.9 21,337.5 21,588.2 7,340.0 14,248.2 6890160 2.07
14,821.6 1,488.0 1,986.4 5,052.1 23,348.0 23,685.5 8,053.1 15,632.4 6890160 2.27
17,118.9 1,324.3 2,236.7 5,035.3 25,715.2 25,906.5 8,808.2 17,098.3 6890160 2.48
19,772.3 1,178.7 2,518.5 5,018.6 28,488.1 28,260.4 9,608.5 18,651.9 6890160 2.71
3728 5,364.7 0.34
5842 8,406.5 0.34
6409 9,223.1 0.34
7010 10,088.0 0.34
7647 11,004.6 0.34
Balance Sheet
2001 Assets Cash and cash equivalents Investment Securities(AFS) Investment Securities(HTM) Loans Receivable Office premises and equipment(net) FHLB Stock Accrued interest receivable Prepaid Expenses and other assets 2002 2003 22,383.0 19,166.0 37,259.0 63,299.0 49,903.0 34,167.0 8,362.0 4,955.0 3,800.0 483,911.0 575,271.0 604,955.0 9,542.0 10,196.0 9,074.0 4,652.0 5,946.0 6,334.0 3,847.0 3,638.0 3,280.0 6,407.0 6,734.0 7,294.0 Total Assets 602,403.0 675,809.0 706,163.0
Liabilities Deposits Advances from the Federal Home Loan Bank Other Liabilities
397,643.0 449,611.0 508,269.0 80,344.0 129,338.0 100,984.0 4,270.0 4,036.0 5,215.0 Total Liabilities 482,257.0 582,985.0 614,468.0
Shareholders Equity Common Stock 68,940.0 Employee Stock Ownership Plan Debt -1,188.0 Retained Earnings 55,033.0 Accumulated other comprehensive Income 395.0 Shares held in trust for stock-related compensation plan -3,034.0 Total shareholders' equity 120,146.0
37,390.0 -792.0 58,019.0 374.0 -2,167.0 92,824.0
30,613.0 -396.0 62,542.0 237.0 -1,301.0 91,695.0
Total Liabilities and shareholders' equity 602,403.0 675,809.0 706,163.0 Book Value Per Share Market Price Earnings Per Share Price To Book Value Price To Earnings
e Sheet
2004 14,995.0 67,567.0 2,311.0 662,642.0 7,206.0 6,650.0 3,301.0 5,400.0 770,072.0 2005 7,366.0 89,000.0 2006 37,640.2 88,255.7 2007 61,865.4 87,517.5 2008 89,670.3 86,785.6 2009 121,636.5 86,059.8
707,000.0 785,098.1 871,823.1 968,128.2 1,075,071.5 5,720.0 5,090.8 4,530.8 4,032.4 3,588.9 7,491.2 8,438.7 9,506.1 10,708.6 12,063.1 3,322.0 3,156.8 2,999.7 2,850.5 2,708.7 5,100.8 4,818.2 4,551.3 4,299.1 4,060.9 825,000.0 932,498.4 1,042,794.0 1,166,474.7 1,305,189.4
546,388.0 128,531.0 4,574.0 679,493.0
625,000.0 703,750.0 107,347.0 115,411.5 4,653.0 4,760.9 737,000.0 823,922.4
792,422.5 892,267.7 1,004,693.5 124,081.8 133,403.5 143,425.5 4,871.3 4,984.3 5,099.9 921,375.6 1,030,655.5 1,153,218.8
23,819.0 0.0 66,738.0 431.0 -409.0 90,579.0 770,072.0
15,469.9 28,383.9 0.0 0.0 72,102.7 80,509.2 427.4 -316.9 0.0 0.0 88,000.0 108,576.1
32,741.2 0.0 89,732.3 -1,055.1 0.0 121,418.4
37,786.0 0.0 99,820.3 -1,787.0 0.0 135,819.2
43,658.5 0.0 110,824.9 -2,512.8 0.0 151,970.6
825,000.0 932,498.4 1,042,794.0 1,166,474.8 1,305,189.4 12.8 17.9 1.32 1.4 13.56 15.8 2.07 17.6 2.27 19.7 2.48 22.1 2.71
Cash Flow Statemen
2005 Opening Balance Of Cash Cash From Operations Funds From Operations Accrued interest receivable Prepaid Expenses and other assets Deposits Total Cash From Operations Cash From Investing Activities Increase in Loans Receivable Increase in FHLB Stock Investments Purchased Total Cash From Investing Cash From Financing Activities Advances from the Federal Home Loan Bank Other Liabilities Dividends Paid Common Stock Total Cash From Financing Closing Cash Free Cash Flow To Firm Free Cash Flow To Equity N
f Years Cost Of Equity Total Equity Value Nf Shares Share Value -21,184.0 79.0 -3,728.0 -8,349.1 -33,182.1 -7,629.0 7,366.0 35,869.2 25553.12 25553.12 1 22.90% 20,791.80 121,462.33 121,462,331.45 6890160 Rs. 17.63 8,064.5 107.9 -5,841.8 12,913.9 15,244.6 30,274.2 37,640.2 8,670.3 110.4 -6,409.3 4,357.3 6,728.8 24,225.2 61,865.4 9,321.7 113.0 -7,010.3 5,044.8 7,469.1 27,804.9 89,670.3 43,881.2 20335.79 20335.79 4 22.90% 8,913.61 14,995.0 2006 7,366.0 2007 37,640.2 2008 61,865.410,578.7 14,877.4 16,192.4 17,596.7 -21.0 165.2 157.0 149.2 299.2 282.6 266.9 252.2 78612 78750 88672.5 99845.23 89,468.9 94,075.3 105,288.9 117,843.3
-44,358.0 -78,098.1 -86,725.1 -96,305.1 -841.2 -947.6 -1,067.4 -1,202.4 -18716.6 -63,915.8 -79,045.6 -87,792.5 -97,507.5
33,918.2 38,581.5 15029.67 17496.39 15029.67 17496.39 2 3 22.90% 22.90% 9,950.52 9,425.25
Flow Statement
2009 89,670.3 Funds From Operation Net Income Depreciation Funds From Operations 2005 2006 2007 2008 2009 9,092.7 14,248.2 15,632.4 17,098.3 18,651.9 1,486.0 629.2 560.0 498.4 443.6 10,578.7 14,877.4 16,192.4 17,596.7 19,095.4
19,095.4 141.8 238.2 112425.735 131,901.2
-106,943.3 -1,354.5 -108,297.9
10,022.0 115.6 -7,647.3 5,872.5 8,362.8 31,966.2 121,636.5 49,905.0 202948.08 23603.31 5 22.90% 8,418.09 103797.7083 179344.77 5 22.90% 63,963.07
doc_803903504.xls