23 Comments
 

I just did and I couldn't find it?

"Respect others in their view, and demand that they respect yours. Love your life, perfect your life, beautify all things in your life."
 
re-ib-nySome firms will embed some of their depreciation into other I/S line items (like COGS or G&A), so the D&A item on the I/S does not necessarily pick up all of the firm's D&A in a reporting period. The line item on the CF/S, however, will capture all of it, because all of it must be backed out of Net Income to get to CFFO.

What he said. Ignore other posts.

 
esbanker
kidflashD&A is not a cash item so it's not included on CF/s

You're joking, right?

What do you mean? You start from NI then add back D&A because it's a non-cash expense... so it's not included on the cashflow statements.

Sorry, I mean just depreciation. My mistake. Am I just being a total idiot?

 

Oh... I guess I didn't understand the wording. By it's not included, I meant the expense is eliminated from the statement of cash flows... My mistake on my wording.

 
kidflashOh... I guess I didn't understand the wording. By it's not included, I meant the expense is eliminated from the statement of cash flows... My mistake on my wording.
I mean it's really not. It is only an expense on the I/S because you're considering D&A as occurring over the lifecycle of whatever item you purchased, even though you paid the cost up-front when you purchased the item(s). It's just not a "use of cash", but you're not eliminating anything, nor are you "adding" cash even though it's conceptually easy to think about it that way.
 
Vontropnats
kidflashOh... I guess I didn't understand the wording. By it's not included, I meant the expense is eliminated from the statement of cash flows... My mistake on my wording.
I mean it's really not. It is only an expense on the I/S because you're considering D&A as occurring over the lifecycle of whatever item you purchased, even though you paid the cost up-front when you purchased the item(s). It's just not a "use of cash", but you're not eliminating anything, nor are you "adding" cash even though it's conceptually easy to think about it that way.

This sums it up.

Capitalist
 

Depreciation and Amortization is a non-cash expense so it should appear as a plain expense on a statement of operations and as an add-back to net income to arrive at cash flows from operations.

I can't think, off the top of my head, of a single instance where they'd be different amounts...

 
Professor ShortieI'm a professor at an ivy teaching FSA and financial modeling. Companies allocate D&A to a number of line items, including CGS and SGA. Sometimes you can find the detail in the notes, but sometimes you can't. The D&A amount from the SCF is the one to use in developing your model. If you have other questions let me know.

This. Can be in cogs, or any op ex. Rd, s and m, g and a.

-- "Those who say don't know, and those who know don't say."
 

Quis voluptatum officiis temporibus provident. Ipsum corporis consequuntur voluptatem exercitationem. Voluptas quo dolorem ut nostrum cupiditate omnis repellat officia. Et voluptates laborum voluptatem tempore et non eos. Similique culpa odio ipsum dolorem. Rerum dolorum eum magnam labore.

Atque quae et dolore. Neque vel qui vitae natus. Deleniti et corporis nihil et.

A nostrum in non magnam accusantium. Atque omnis minima architecto suscipit quo. Natus ea consequatur earum voluptates voluptas. Odit soluta omnis harum. Possimus ex voluptate cumque quisquam. Dolor asperiores provident ut exercitationem numquam eos dolorem.

 

Consequuntur ipsa et ut sed. Qui voluptas beatae aut fugit. Occaecati voluptatem ut ipsam qui.

Quidem tempora omnis odio ab laborum quae ipsum. Itaque doloremque quasi voluptas amet sequi voluptatem voluptates. Numquam et aut voluptatem voluptatibus et neque praesentium numquam. Soluta ducimus omnis voluptates distinctio. Neque similique sint fugit nam voluptatibus. Facere eveniet sunt laborum nemo expedita. Et nam soluta velit reprehenderit.

Et ut et quas debitis libero voluptatum. Consequuntur et nam dolore rerum incidunt dolor.

People demand freedom of speech as a compensation for freedom of thought which they seldom use.

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”