Investor Presentaiton
NON-GAAP Reconciliations: Free Cash Flow
FREE CASH-FLOW (FCF)
(in thousands)
Net Cash Provided by Operating Activities
Exclude: Changes in Working Capital and Other Items
(1)
Less: Capital Expenditures
Less: Series A Preferred Dividends
Free Cash Flow
(1) Capital Expenditures are calculated as follows:
Cash Paid for Capital Expenditures
Less: Non-Budgeted Acquisitions
1Q22
2Q22
3Q22
$ 154,034 $ 210,239 $ 276,766 $
80,985
(86,020)
(3,016)
41,948
(135,055)
(2,810)
(7,505)
(156,095)
(2,610)
4Q22
1Q23
2Q23
287,379 $ 269,308 $ 307,786 $
(53,029)
(145,890)
(1,367)
26,864
(212,235)
(27,410)
(232,801)
3Q23
263,865
83,131
(219,234)
$ 145,983 $ 114,322 $ 110,556 $
87,094 $ 83,937 $ 47,575 $ 127,762
$ 417,482 $ 106,740 $ 301,240 $
(344,264)
Plus: Change in Accrued Capital Expenditures and Other
Capital Expenditures
3,288
25,027
(151,303)
6,158
$
12,802
86,020 $ 135,055 $ 156,095 $ 145,890 $212,235 $ 232,801 $ 219,234
529,735 $ 460,982 $ 409,895 $ 612,762
(388,656) (271,606) (211,319) (442,866)
4,811
22,859
34,225
49,338
Investor Presentation November 2023 | 38 NOGView entire presentation