Homework Answers
a. Net non operating expense and net operating profit after tax(NOPAT)
Net Non operting expense
A non eperating expense is a expense incurred from activities unrelated to core opeartions.
=interest expense - interest income
=159-121=$38million
Net operating profit after tax
NOPAT=Operating profit *(1-tax rate)
=4480*(1-22%)
=4480*0.78=$3494.4 million
b.Net non operating obligations.
Net Non operating obligations= non operating liabilities- non operating assets
Non operating obligation in 2017
=( 2725+1200)-(272+869)=$2784 million
Non operating obligation in 2018
=(3014+1314)-(860+321)=$3147 million
c.Financial leverage(FLEV)
FLEV=Earnings before interest and tax(EBIT)/Earning before tax(EBT)
=EBIT/(EBIT-interest)
4480/(4480-(159-121)-45)=
4480/4397=1.0188= 1.02 times
d.Non-controlling inerest ratio.(NCI)
Non controlling interest is the portion of equity ownership in a subsidiary not attributable to the parent company.
NCI ratio= non controlling interest/total equity
=304/13103 *100= 2.32%
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