Dumb financial modeling question

I work as an actuary but am learning some basic financial modeling since I figure it's a good skill set to have, and I'm branching out into some non-traditional actuarial work that is more finance heavy. I say this just as some background - I have Excel/math knowledge but don't work often with financial statements.

I downloaded the free Excel discounted cash flow modeling spreadsheet here: https://corporatefinanceinstitute.com/resources/k…

Why when they calculate the intrinsic enterprise value as the net present value of cash flows, do they discount to June 30, 2018 instead of to December 31, 2017? Aren't the cash and debt in this example valued as of Dec 31?

I am not sure if I'm missing something about how the calculation is supposed to work, or if the spreadsheet does this wrong as a matter of simplification.

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