{"product_id":"leveraged-buyouts-website-9781118674543","title":"Leveraged Buyouts  Website","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eA comprehensive look at the world of leveraged buyouts    The private equity industry has grown dramatically over the past twenty years. Such investing requires a strong technical know-how in order to turn private investments into successful enterprises.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTrade Review\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e“Pignataro’s step-by-step approach is ideal for anyone trying to learn or hone the analytical skills necessary to model the basic viability of an LBO, from the point of view of the company as well as the investor. He explains valuational concepts and how to capture them in Excel spreadsheets, the latter described down to the level of individual keystrokes…. \u003ci\u003eLeveraged Buyouts\u003c\/i\u003e is a self-contained course in rudimentary financial modeling (and a crash course in Excel as well). It’s a perfect read for anyone wanting to enter the world of investment banking or private equity.”\u003cbr\u003e —\u003cb\u003eInvesting.com\u003c\/b\u003e\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eThe Heinz Case Study xii\u003c\/p\u003e \u003cp\u003eHow This Book Is Structured xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Leveraged Buyout Overview 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Leveraged Buyout Theory 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Availability, Interest, and Debt Pay-Down 3\u003c\/p\u003e \u003cp\u003eOperation Improvements 4\u003c\/p\u003e \u003cp\u003eMultiple Expansion 4\u003c\/p\u003e \u003cp\u003eWhat Makes Good Leveraged Buyout? 4\u003c\/p\u003e \u003cp\u003eExit Opportunities 5\u003c\/p\u003e \u003cp\u003eIs Heinz a Leveraged Buyout? 5\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 What Is Value? 7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBook Value 7\u003c\/p\u003e \u003cp\u003eMarket Value 7\u003c\/p\u003e \u003cp\u003eEnterprise Value 8\u003c\/p\u003e \u003cp\u003eMultiples 12\u003c\/p\u003e \u003cp\u003eThree Core Methods of Valuation 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Leveraged Buyout Analysis 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurchase Price 19\u003c\/p\u003e \u003cp\u003eSources and Uses of Funds 22\u003c\/p\u003e \u003cp\u003eIRR Analysis 33\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Leveraged Buyout Full-Scale Model 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Assumptions 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurchase Price 57\u003c\/p\u003e \u003cp\u003eSources of Funds 63\u003c\/p\u003e \u003cp\u003eUses of Funds 69\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Income Statement 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRevenue 76\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 76\u003c\/p\u003e \u003cp\u003eOperating Expenses 77\u003c\/p\u003e \u003cp\u003eOther Income 78\u003c\/p\u003e \u003cp\u003eDepreciation and Amortization 80\u003c\/p\u003e \u003cp\u003eInterest 80\u003c\/p\u003e \u003cp\u003eTaxes 81\u003c\/p\u003e \u003cp\u003eNonrecurring and Extraordinary Items 82\u003c\/p\u003e \u003cp\u003eDistributions 82\u003c\/p\u003e \u003cp\u003eShares 83\u003c\/p\u003e \u003cp\u003eHeinz Income Statement 84\u003c\/p\u003e \u003cp\u003eLast Twelve Months (LTM) 108\u003c\/p\u003e \u003cp\u003eIncome Statement—Projections 116\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 The Cash Flow Statement 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Flow from Operating Activities 133\u003c\/p\u003e \u003cp\u003eCash Flow from Investing Activities 137\u003c\/p\u003e \u003cp\u003eCash Flow from Financing Activities 137\u003c\/p\u003e \u003cp\u003eFinancial Statement Flows Example 138\u003c\/p\u003e \u003cp\u003eHeinz Cash Flow Statement 144\u003c\/p\u003e \u003cp\u003eHeinz Last Twelve Months (LTM) Cash Flow 154\u003c\/p\u003e \u003cp\u003eCash Flow Statement Projections 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Balance Sheet 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAssets 179\u003c\/p\u003e \u003cp\u003eLiabilities 182\u003c\/p\u003e \u003cp\u003eHeinz Balance Sheet 184\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Balance Sheet Adjustments 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGoodwill 200\u003c\/p\u003e \u003cp\u003eHeinz Balance Sheet Adjustments 208\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Depreciation Schedule 221\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStraight-Line Depreciation 222\u003c\/p\u003e \u003cp\u003eAccelerated Depreciation 222\u003c\/p\u003e \u003cp\u003eDeferred Taxes 227\u003c\/p\u003e \u003cp\u003eProjecting Depreciation 231\u003c\/p\u003e \u003cp\u003eProjecting Amortization 241\u003c\/p\u003e \u003cp\u003eProjecting Deferred Taxes 244\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Working Capital 247\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset 247\u003c\/p\u003e \u003cp\u003eLiability 247\u003c\/p\u003e \u003cp\u003eOperating Working Capital 248\u003c\/p\u003e \u003cp\u003eHeinz’s Operating Working Capital 251\u003c\/p\u003e \u003cp\u003eProjecting Operating Working Capital 262\u003c\/p\u003e \u003cp\u003eOperating Working Capital and the Cash Flow Statement 271\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Balance Sheet Projections 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash Flow Drives Balance Sheet versus Balance\u003c\/p\u003e \u003cp\u003eSheet Drives Cash Flow 283\u003c\/p\u003e \u003cp\u003eBalancing an Unbalanced Balance Sheet 301\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Debt Schedule and Circular References 309\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDebt Schedule Structure 309\u003c\/p\u003e \u003cp\u003eModeling the Debt Schedule 310\u003c\/p\u003e \u003cp\u003eCircular References 329\u003c\/p\u003e \u003cp\u003eAutomatic Debt Pay-Downs 337\u003c\/p\u003e \u003cp\u003eBasic Switches 339\u003c\/p\u003e \u003cp\u003eFinalizing the Model 339\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Leveraged Buyout Returns 351\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExit Value 351\u003c\/p\u003e \u003cp\u003eReturns to 3G Capital 355\u003c\/p\u003e \u003cp\u003eMultiple Expansion 361\u003c\/p\u003e \u003cp\u003eDebt Pay-Down 364\u003c\/p\u003e \u003cp\u003eConclusion 364\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Advanced Leveraged Buyout Techniques 365\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Accelerated Depreciation 367\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMACRS 367\u003c\/p\u003e \u003cp\u003eAccelerated versus Straight-Line Depreciation 372\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Preferred Securities, Dividends, and Returns to Berkshire Hathaway 377\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePreferred Securities 377\u003c\/p\u003e \u003cp\u003ePreferred Dividends 378\u003c\/p\u003e \u003cp\u003eReturns to Berkshire Hathaway 388\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Debt Covenant Ratios, and Debt Fee Amortization 395\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCoverage Ratios 395\u003c\/p\u003e \u003cp\u003eLeverage Ratios 397\u003c\/p\u003e \u003cp\u003eDebt Fee Capitalization and Amortization 399\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Paid-in-Kind Securities 409\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eApendixes\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAppendix 1: Model Quick Steps 417\u003c\/p\u003e \u003cp\u003eAppendix 2: Financial Statement Flows 419\u003c\/p\u003e \u003cp\u003eIncome Statement to Cash Flow 419\u003c\/p\u003e \u003cp\u003eCash Flow to Balance Sheet 420\u003c\/p\u003e \u003cp\u003eAppendix 3: Excel Hot Keys 421\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 423\u003c\/p\u003e \u003cp\u003eAbout the Author 425\u003c\/p\u003e \u003cp\u003eIndex 427\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48866375434583,"sku":"9781118674543","price":66.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781118674543.jpg?v=1722278351","url":"https:\/\/bookcurl.com\/products\/leveraged-buyouts-website-9781118674543","provider":"Book Curl","version":"1.0","type":"link"}