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working capital is generally needed to fund future growth and, as such, the annual change in requirements represents an additional cash outflow. The DFNWC needs were based on an analysis of the Company's historical DFNWC requirements and normalized guideline company indications, as weft as discussions
data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which use historical data to predict forward-looking ERPs. Use o
working capital is generally needed to fund future growth and, as such, the annual change in requirements represents an additional cash outflow. The DFNWC needs were based on an analysis of the Company's historical DFNWC requirements and normalized guideline company indications, as weft as discussions
data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which use historical data to predict forward-looking ERPs. Use o
working capital is generally needed to fund future growth and, as such, the annual change in requirements represents an additional cash outflow. The DFNWC needs were based on an analysis of the Company's historical DFNWC requirements and normalized guideline company indications, as weft as discussions
data. The ERP used in the analysis was based on the supply-side long-horizon historical ERP as provided in Morningstar's Stocks, Bonds, Bills, and Inflation Valuation Yearbook. Long-term expected equity returns can be forecasted by use of supply-side models, which use historical data to predict forward-looking ERPs. Use o
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