Table 1
Descriptive statistics of CFCF and competing versions of FCF, 1988–2009. The table shows the median and mean of the three versions of
Free Cash Flows (FCF):with full offset of Current Liabilities against Current Assets (FOCF),with partial offset of Current Liabilities excluding
Short-Term Debt against Current Assets (POCF), and without offset of Current Liabilities against Current Assets, CFCF, or Corrected Free
Cash Flow. CA = total Current Assets, CL = total Current Liabilities, DCL = short-term Debt in Current Liabilities, CV = Coefficient of
Variation. The Relative Difference between flows is calculated as the ratio of the difference between the means of either FOCF and CFCF,
or POCF and CFCF, divided by the absolute value of CFCF. All non-percentage values are in millions of dollars