Yes you are correct about double counting the interest. Can you tell me how FCF was calculated to be 1220M.
As you stated free cash flow (FCF) = operating cash flow (OCF) - capital expenditures (CE).
From the FY17 report OCF is 837M so for FCF to be 1220M then capital expenditures would need to be -383M. This to me does not make much sense. Generally FCF will be less than OCF.
Clearly I am missing something. Would be great if you can fill me in.
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