For the balance sheet items, we're going to take all the current operational items, excluding any cash, financial investments, and all the current operational liabilities, excluding anything related to financing, which will include debt, but also things like dividends payable. So let's go to the 10 K filing for Keurig Dr. Pepper in 2023. I can jump to the balance sheet quite quickly by clicking on sections. And I'm gonna go up to the top and go to the consolidated balance sheets. I don't want to include cash because that's a financial item, but I do want to include trade accounts, receivable, inventories and prepaid expenses. Trade accounts receivable are often just called accounts receivable. Trade just means they're operational. So I'm going to click on the number, save it and put it into my analysis and go down and do the same with inventory and prepaid expenses.

And then no other items. So I just can keep these at zero. And then I'm going to go to the liability section of the balance sheet. And we have a accounts payable, we have accrued expenses, and then we have structured payables. Now structured payables typically will be a financing item. It's some type of perhaps structured payment that they have to make. So the word structured indicates that this is a financing item. If you are really worried about that, you can all search for the item.

So you can see here there's a breakdown of what is in structured payables and it's uh, an agreement with the supply chain payment processing intermediary factors as a virtual credit card sponsor. So this is very much in the wheelhouse of a financial item rather than an operating item. So I'm not going to include that, but I'll go back to my balance sheet and I'll just skip that. Next, we have short term borrowings, obviously not operational, so I'll exclude that. And then we have other current liabilities.

Now, usually the other accounts, the default position is because they are current or it doesn't say anything about cash or investing. If it's other current assets, then I by default would include it. So I'm going to include the 714 and that's going to be my other current liabilities.

I have nothing else left, so I'm just going to make everything zero.

And then I can calculate the operating working capital, which is a negative number. Let me go back and just update my annotations. So I'm gonna pop open my annotations and I'm gonna put 2023 accounts receivable, 2023 inventories, 2023 prepaid expenses. You don't have to do this, but this is very good practice because it's really helpful for somebody else looking at your work. So we'll do 2023 accounts.

Made a little typo here, so I'm just going to edit that. Put a capital P and then we've got 2023 accrued expenses.

And then lastly, 2023. Other current abilities.

So we've done the working capital, now we've got a few other key items here. Net PP&E, net amortizing tangibles, and capital expenditure of PP&E. The first two items come from the balance sheet, the net PP&E, we go down to the long term assets. We can see that we've got net property, PL and equipment 2,699.

Now to get the net amortizing intangibles, I want to exclude anything that doesn't amortize.

And that could be goodwill, but it also could be finite intangibles. So let me go to the 10 K and I'm going to go to my sections and I'm gonna look for the notes to intangibles and goodwill. So I'm gonna jump to this and you can see that this is the goodwill at the top. And then I talk about intangibles other than goodwill.

And at the bottom here we can see that we have the net amount of the intangibles which are being amortized. And we want the 2023 number. And so we want the net amount, which is the 1,178.

So I'm gonna paste that in. And then we've got the capital expenditure of property, plant, and equipment. And I would normally get that from the cash flow statement. And we've go up to cash estimate. Now, unfortunately here, because the mechanism uses XPRL tagging, the company has mist tagged the cash flow statement. But the good news is we get to the income statement, which is pretty close to the cash flow statement. So I'm just gonna scroll down to go to my cash flow statement. And we want the investing activities, and it doesn't say CapEx, but it says purchases of property, plant, and equipment. And that's the number I want on that 425 number. So I'm gonna pull that in and I'm gonna paste that 425 number in. So we've done the key balance sheet items and I'm going to update my annotation labels. So if you can't remember what this is and I can't, I'm gonna click on it and you can see that's the 23 PP&E. And then next you can see this is the 2023 other intangible assets.

And then we've got the amortizing intangibles. So 2023 amortizing intangibles net, and then the 425, I think that's CapEx. Yes it is. So I'm just gonna do 2023 CapEx. So it's really good to have these labels because it makes things a lot easier for you to find.

So we've done the key balance sheet items apart from debt.