consolidated cash of $159 million, we estimate net leverage at 4.2x. Exhibit I: Boyd Gaming ($Millions) 2015 CA) 2018(A) LTM 2017(E) 2018(E) Consolidated BUDA $527 3536 $568 $696 $828 Loss. Capital Expenditures 131 160 239 245 110 Less: Cash interest 178 197 160 165 150 Lass: Cash taxes I