Step 3 says we have to build the cash flow available for debt service To calculate cash flow available for debt repayment we're going to start with EBITDA We'll then take off all of our interest items apart from interest income which we'll add Then take off tax expense and any other cash flows regarding any balance sheet operating items So we start with EBITDA, press equals, go up and I find my adjusted EBITDA 126.5 The next items are interest and unfortunately we haven't calculated these yet They're not in our debt schedule, they're not in the income statement So we will fill these in later on Tax expense, we do have that, that's up in our income statement 38.2 And I can now calculate cash flow available for debt repayment which is the sum of all the items above Coming to 50.9 So at the moment (excluding all of the interest of course), we've got 50.9 that we could use to start paying down debt Let's copy all of those figures to the right so we can see how much we've got if we're really paying in all of the other years So in year 10 we've got 90.4 of cash that we can use to repay debt