In calculating CFADS, we need to decide where to get our figures from. I'm gonna be starting in the short period to 31st of December, 18. Now luckily, that short period's numbers have already been calculated. We've found them in two places. One on the deal date tab, down in the cash flow statement there. That is just for the three month period. But we've also got it in the deal model tab. And seeing as we want to copy it to the right, I want to grab it from the deal model tab. So there it is in the deal model tab. And you might notice that figure is much smaller than that in the next column, because we're just looking at the three month period.

I then want to grab the remaining items. So again, I go back to the deal model tab, go to the cash flow statements, grab the tax expense. The next few items I can get by just copying that down. Let's just check that 2.5 is coming from the right place. There it is, other current liabilities. Next I'll need Capex, and that calculates my CFADS. And we'll start spending it on interest. Now these items we're not going to calculate yet, but we are going to have them on this tab. So I'm gonna start linking down to those cells and then later on when we fill those cells in, the numbers will then populate these cells up here. So interest on the revolving credit facility, we've got that all the way down in row 75, there it is. Then the refinance facility is just a little bit further down below row 75 in row 88, so refinance facility, interest expense. And let's do the others. So Capex, so there's our Capex facility and scroll down a little bit more in row 170 and we do exactly the same for the others.

And that gets us our gross cash interest expense. You might notice that doesn't include all of the interest items on all of the debt items. That's because some of that interest is not going to be cash interest. So CFADS has been used to pay off interest but we might add on any interest income we've got. I'd like to come back and do this later on. It's quite a tricky calculation. So we'll leave this one for now. We'll do it when we actually calculate interest later. But I'll color it gray, just remind me that it needs to be done. So CFADS has been used to pay off interest. Let's now use it to pay off mandatory repayments on debt. Again, we're not gonna calculate them just yet, and I can't just link up to the assumptions. We may find later on that we don't actually need to make those mandatory repayments, because the debt's already been paid off. So let's link down to the actual payments that we'll make. The mandatory repayment of the Capex facility. We can find that all the way down. There's our Capex facility and I want to link to the actual repayment being made in row 158, and then do exactly the same thing for term loan B. I can find that in row 112. Same for the second lien. That's in row 126.

And the high yields, in 138.

And lastly, the mezzanine all the way down in row 148.

So I want to work out how much cash I've got left over after spending lots on interest and mandatory repayments. So I started off with the cash I had from CFADS, cash available for debt service. I then spent lots of it on interest expense but then got some interest income. So I take the net of those two and I spent a lot of it on mandatory repayments. So if I add those three together, at the moment I've still got 30.3. But I may find I've got some beginning cash that I can add onto that. I'll have to go to the deal model tab to find that. And if I scroll down to the bottom of the cash flow statement, I can see that at the beginning of the three months that ended December 18, I had 30. That gives me 60 available. However, I know that some of it has to be put aside as minimum required cash. I can find that on the input tab. On the input tab, the minimum cash balance is 30, and I want to make that a negative 'cause I want to subtract it away. So I had 30.3 of cash flow from this year. I added on 30 beginning cash, but then coincidentally I need to subtract off the 30 of minimum required cash.