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Operating expenses comprise all expenses that are incurred in carrying out a firm’s ordinary activities, including advertising, salaries, rent, research and development, office sup...
Operating activities are the main revenue producing activities of a firm. Operating cash flow (OCF) is the cash flow arising from day-to-day revenue and expense transactions due t...
What is one-line consolidation?
For tax purposes, dividends are the only revenue realized from the investee. Consequently, the investor must recognize deferred income tax expense on the investee’s undistributed...
The difference between earnings before interest and taxes (EBIT) and earnings before taxes (EBT) is an entity’s financial results. Financial results is determined by the earning o...
Mid-ticket leasing encompasses the leasing of low-volume, relatively high-price assets, such as industrial equipment and machinery, fleets of cars and commercial vehicles, computer...
What is mid-ticket equipment leasing? What is big-ticket equipment leasing?
Mid-ticket equipment includes low-volume, relatively high-price equipment with an original cost of $100,000-$500,000 according to DBRS and Fitch and $250,000-$5mn according to the...
Mezzanine debt is a private term loan with a bullet maturity whose claim to interest and principal payments ranks after senior secured debt but ahead of equity, commonly raised wit...
Mandate letters for fully underwritten deals generally contain a market flex. A market flex sets out the circumstances in which syndicate arrangers are entitled to unilaterally ad...
Margin is the difference (“spread”) between the total interest rate charged on a loan and its reference base rate (e.g., LIBOR). It reflects the borrower’s credit quality and, thu...
Tax laws generally grant depreciation rights only to the asset’s legal owner, who depreciates the cost of the asset over its economic life and claims any available investment tax c...
