We're about to put a lot of flexibility into this model. We want to be able to see the old debt and then replace it with the new debt via the recapitalization. We're going to use a recapitalization switch in order to do that. Any items that involve the recapitalization, we'll multiply by that, switch that one there to turn it on or off.

However, we need to be able to see the old debt all of the time because we need to pay it off in order to work out how much dividends we can then pay out. But when we replace that old debt with the new debt, we're not gonna have access to those numbers anymore. So we need a way to see both the old debt and the new debt at the same time. We're gonna do that at the bottom of the base case recap tab. We're going to use data tables to do that.

At the bottom here, we've got our first data table here and we've got a 0 and a 1. What we'll do is we'll create a data table and we'll put that 0 and 1 into the recap switch. That means we'll be able to turn off the recap, grab the senior debt numbers, and turn it on using the 1, grab the senior debt numbers, and we'll be able to see both at the same time. So let's do this first one. So our ending senior debt balance, I need to link up to that ending senior debt balance. We've got that up in row 68. There it is. You might notice the number says ending senior debt balance post recap. But remember, if we turn the switch off, that number will just be the pre recap number.

I'll copy that to the right, and I'll now do my data table. I'll select all of the numbers.

I'm gonna go to the data table dialogue box, and the shortcut for that is alt A to go to the data ribbon and then W to go to what if. And then T for data table, it asks me if I have any column input cells. Yes, I do that 0 and 1 will be the column input cell. So I click into there, scroll up to the top of this tab, and it's the recap switch there, and it's in C6.

I'll press okay, let's go back down to the bottom. And we can see our data table has updated.

Now at the moment with the recap switch off, we can see that we've got the ending senior debt balance of 1125.2. But when the recap switch is on, we've got exactly the same amount of debt for every year. That's okay, because we haven't put any recap adjustments in yet. So those numbers will change later.

Let's do the same for the unsecured notes. That's up in row 77.

And for the cash scroll up again, that's in row 84.

I'm going to copy them both to the right at the same time. And now I'll do my data table, so Alt AWT, and I'll just type it in. It was dollar C dollar 6. I.e. cell C6, and then I just lather, rinse, repeat for the cash dollar C dollar 6.

Our next step will be to calculate the old debt, then work out how much of our new debt we use to pay it off, and then we can work out the dividends. So we'll be using these numbers for that process.