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  3. free cash flows are calculated by, subtracting in

Free cash flows are calculated by, Subtracting investments in net operating capital from net...

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Finance

  1. Free cash flows are calculated by,
    1. Subtracting investments in net operating capital from net operating profit after taxes;
    2. Subtracting investments in gross operating capital from operating cash flows after taxes;
    3. Summing interest paid to debt holders, debt principal payoff, dividends, stock repurchase, changes in short-term investments or non-operating assets;
    4. All of the above

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