medium · Corporate Credit Analysis
A firm's GAAP EBITDA is $500 million. Management adds back $50 million for 'unrealized synergies' and $25 million for 'non-cash rent expense'.
If Cash Interest is $100 million and Cash Taxes are $50 million, what is the FFO (Funds From Operations) using management's adjustments?
- 425 million
- 400 million
- 575 million
- 350 million
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