Shout for help - from those who have read 6.e Valuation: Measuring and Managing the value of Companies
Hello everyone,
I started reading a valuation book recommended by many of you here recently, "Valuation: Measuring and Managing the value of Companies", and have been stuck on Chapter 9 for the past few days with an unsolved question - already started losing sleep on it! I was hoping some of you might be able to help out here:
In Chapter 9 of the 6th Edition, Reorganizing the financial statements, the authors were able to strip out UPS's amortization of capitalized software from the company's reported amortization of intangibles of the year (which also includes things like patent, customer lists and etc.) in Exhibits 9.9, pg 186. Unfortunately the book never mentioned how it was done and I've been scratching my head for days and still couldn't really figure it out. If any of you could shed any light on it, it'd be greatly appreciated!
Many thanks in advance!
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