Reference no: EM132865272
Question - A company's balance sheet for its just-ended fiscal year is presented below (amounts in millions of dollars). The company's operating income for the year is $245.80 million, and its operating expenses include $22.35 million in stock-based compensation and $95.27 million in depreciation. Its net operating capital at the end of the preceding year was $1,165.25 million. What is the company's free cash flow for the year if its tax rate is 25%? Assume "other long-term liabilities" are operating liabilities. Do not round numbers in intermediate steps. Report your final answer in millions of dollars and round to two decimal places.
Assets
Cash 159.00
Marketable securities 79.20
Accounts receivable 195.00
Inventories 225.90
Deferred income taxes 78.00
Prepaid expenses 90.30
Total current assets 827.40
Net plant and equipment 694.44
Intangible assets 242.76
Total assets 1,764.60
Liabilities and Equity
Accounts payable 126.00
Notes payable 294.00
Accruals 96.30
Total current liabilities 516.30
Long-term debt 324.00
Post-employment obligations 268.80
Deferred income taxes 96.00
Other long-term liabilities 144.90
Total liabilities 1,350.00
Common stock 330.60
Retained earnings 84.00
Total equity 414.60
Total liabilities and equity 1,764.60