SparrowHawk
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- Nov 30, 2009
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Don't take clubbie seriously - I think the Warren Buffet he "plays" with is the dishwasher at the local greasy spoon. Just look at the latest P&L, balance sheet, and cash flows in the latest annual report. I don't think you find a line item called "misc" in them. Even assuming that clubbie really means "other", his comment that "Over a third of the "costs" are reported as "Misc", something that should be a giant red-flag to anyone" is patently false.
Operating expenses: total $12,629 million, other $1,235 million [fuel is $3,400 million, labor is $2,272 million]
Nonoperating income (expense): total ($326) million, other ($12) million [interest expense is ($327) million]
So I ask you, is either of those "Misc" costs over 1/3 the total? Clubbie has a history of making it up as he goes...
Jim
If the "other" is that minute then that's a really a tight balance sheet.