Replies to post #267235 on SwingTrade Member Forum (SWING)

[MikeDDKing]

Frank re: MUEL debt

The cashflow statement indicates that they repayed $4,119,000 of short-term borrowings and $1,990,000 of long-term debt. Therefore, short-term borrowings should be $11,586 or so. Current maturities of long-term debt can be calculated by adding the current and non-current portions at 12/2012 and subtracting the 9/2013 value of the non-current long-term debt and also subtracting the repayed amount. That gives us $14,404,000+4,063,000-$8,890,000-$1,990,000 = $7,587,000 for current maturities of long-term debt. Note that current maturities of long-term debt includes any amount due in the next 12 months. So, while they are paying down long-term debt in general, a new chunk of long-term debt becomes current debt every quarter.

Those numbers above seem to be a bit off when I foot out the other cashflow changes. It may be that interest expense is one of the reasons for the discrepancy. In any case, my numbers above should be in the ballpark. This would be easier if they provided a more detailed balance sheet for the interim periods.