Record cash receipts for 4th quarter, page-188

Okay, yes of course interest and tax are real expenses. I was referring to 911's fear that the company is capitalising expenses (e.g. software spend) in order to remove it from EBITDA and then they can treat this spend as an asset and then depreciate the expense over time (which would show up below EBITDA).

I agree Interest and Tax are real expenses they just fall below EBITDA by definition:

Earnings
Before
INTEREST
TAXES
and
Depreciation & Amortisation (in this case is real D&A from track, no hidden costs)

That was my point.