We're looking to calculate our cashflow statement for the nine months to deal date, which means we're working in column F. We start with EBITDA and we'll find that up in our income statement. So scroll up, up, up and there it is. But there are many other cash flows. Because this is an LBO model, that means there'll be lots of interest items. So if I go up to the income statement again, I want to start with a historical net finance charge. There it is of zero. Now you might notice the next item down is amortization of original issuer discounts. That's not a cash flow, so you won't include that. But the interest on revolving credit facility, I do need to get that. There it is and I can actually copy that down all the way down to interest on high yield. Next up is the interest income.

When we fill in interest later on in the income statements and turn all the switches on, then any interest that does occur will then flow through. Next, the tax expense.

And that's all of the items from the income statement. But I now need to find operational cash flows from the balance sheet and we start with other long-term assets. So I scroll up, I find the other long-term assets and I want to take the difference between last year and this year.

I then want to do something similar for my other long-term liabilities, except it'll be the other way around. I want to take this year minus the previous year.

We then go through our current assets. So receivables is next. Last year minus this year and other current assets was directly below that. So I can just copy it down. I can do something similar with accounts payable. I go up, I find this year minus the year before and then I can copy that down to find other current liabilities. That's cash flow from operations. Next onto CapEx. That's near the top. It's in the base analysis calculations. There's CapEx but I do need to make sure I make it a negative. That's my cash flow from investing activities. Now I move on to financing. I'm gonna start off with an increase or decrease in the revolving credit facility. So up to our balance sheet. And I want to take this year minus the previous year. I need to do exactly the same for my historical long-term debts. Again, up to the balance sheet, this year minus last year. You might notice at the deal date nothing's happened just yet.

I can copy that down all the way down to the issuance or repayment of the mezzanine. And the last one I need there is dividends. I'll find that at the bottom of the income statement.

If I sum them up, that's my cash flow from financing and I'm almost able to get to my ending cash. I start with last year's ending cash. I find that in the balance sheets.

That becomes this year's beginning. And my net cash flow is the sum of cash flow from operations, investing and financing.

Add them all up and I get an ending cash of 269.7. Now, it's a perfect opportunity here for us to go and balance the balance sheet. So I go up to my balance sheet, find cash and I press equals, link down to the bottom of the cashflow statement.

And now cash has gone in. I just want to check that my balance sheet balances and at the bottom of the balance sheet, I find I've got the word okay. So I've now got my income statement, balance sheet and cashflow statement at deal date. The only thing that's missing is interest. We'll get to that when we get to the end of the model, we hook all of interest up and we then turn the interest switch on.