Hopefully of interest around here beyond us CPA's:
https://www.amtrak.com/content/dam/proj ... FY2019.pdf
What I feared, but kept to myself, is that the "almost breaking even" loss of $30 or so M, is actually an "EBIDTA" measurement. Like the Statement of Cash Flows, EBITDA represents an expression of Household Accounting ("Cookie Jar" was the expression I used with my clients).
To arrive at the "touted number", Go the Statements of Operations, identify Loss of $893M, subtract Depreciation of $870, and there is $23, or in the league of the $30.
I'm sorry, but to me Depreciation is just as much an expense as is Locomotive Fuel, for it represents a systematic charging of funds expended for Capital projects to Expense over the estimated life of the project.
Have fun yanking the Statements apart.
https://www.amtrak.com/content/dam/proj ... FY2019.pdf
What I feared, but kept to myself, is that the "almost breaking even" loss of $30 or so M, is actually an "EBIDTA" measurement. Like the Statement of Cash Flows, EBITDA represents an expression of Household Accounting ("Cookie Jar" was the expression I used with my clients).
To arrive at the "touted number", Go the Statements of Operations, identify Loss of $893M, subtract Depreciation of $870, and there is $23, or in the league of the $30.
I'm sorry, but to me Depreciation is just as much an expense as is Locomotive Fuel, for it represents a systematic charging of funds expended for Capital projects to Expense over the estimated life of the project.
Have fun yanking the Statements apart.