CHIPS Pre-Application Information Collection

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Overview

Overview
Inputs >>
Control Panel
Processing >>
Assumptions Processing
Depreciation Schedule
Outputs >>
Income Statement
CashFlow
Balance Sheet
Other >>
Drop-Downs

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Sheet 1: Overview

	Introduction to the Pre-App Project Forecasting Example Tool
		Purpose:	The purpose of this document is to provide an example of the level of granularity and structure for the summary project financials for the purposes of the Pre-App. This document is an example, is not expected to be completed, and will not be collected.
	Description of contents
		Worksheet Legend:
		Worksheet		Description
		Inputs >>	Control Panel	Main tab for the user that controls assumptions and inputs
		Processing >>	Assumptions Processing	Helper worksheet to structure inputs for model outputs
			Depreciation Schedule	Helper worksheet to calculate depreciation and investment tax credit
		Outputs >>	Income Statement	Model output summarizing income statement for the project
			CashFlow	Model output summarizing a cash flow statement for the project
			Balance Sheet	Model output summarizing a balance sheet for the project
		Other >>	Drop-downs	Helper worksheet to define options in tool’s drop downs

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Sheet 2: Inputs >>

Input >>

See the following tabs (Control Panel) directly following this tab

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Sheet 3: Control Panel

Control Panel
Main tab for the user that controls assumptions and inputs
	(A) Overview									Error Checks:	Notes
						Direct input			Inputs	-	- Checks that inputs are sensible (e.g., sum to 100%, no negative cost / loans / etc)
	Enter Project/Company Name	CPO Semiconductor Manufacturing Project				Interim calculation	Text		Cash balances	-	- Checks if cash balances are positive for the entire forecast
						Cross sheet reference			Balance sheet	-	- Checks if the B/S reconciles
	(B) Project Capital Costs
			Check
	Total Initial Capital Investment	8,000,000,000	0
	Total Capital Allocated	8,000,000,000	0
	Size and timing of initial Capital Investment spend		Year
		Amount	1	2	3	4	5	Total	Check
	Land	100,000,000	100%	0%	0%	0%	0%	100%	0
	Construction	1,100,000,000	50%	50%	0%	0%	0%	100%	0
	Equipment	6,000,000,000	0%	50%	50%	0%	0%	100%	0
	Administrative Expenses directly attributable to facility construction	100,000,000	25%	25%	50%	0%	0%	100%	0
	Infrastructure Improvements	100,000,000	25%	25%	50%	0%	0%	100%	0
	Other Capital Investment	600,000,000	25%	25%	50%	0%	0%	100%	0
	Ongoing annual capital investment (after facility initiates operation)		Check
	Annual cost as a % of initial capital investment spend	4%	0
	Start year	4	0
	(C) Project Revenue
			Check
	Unit production capacity, Monthly	20,000	0
	Unit price in first year of production	16,000	0
	Annual change in unit price	-5%
		Start year	End year	# years	Check
	Unit production ramp up (% of total capacity)	2	4	3	0
	(D) Operating Costs
		Run Rate Cost	Annual change after production ramp up		Check
	Materials / Consumables / Chemicals	500,000,000	-3%		0
	Labor	400,000,000	0%		0
	Utilities	200,000,000	-2%		0
	SG&A	300,000,000	-5%		0
	R&D	150,000,000	-8%		0
	[Other Costs #1]	0	0%		0
	[Other Costs #2]	0	0%		0
	[Other Costs #3]	0	0%		0
	(E) Debt Assumptions
		Senior debt	Subordinated debt	Check
	Annual interest rate (%)	5.00%	8.00%	0
	Tenor (years)	10	8	0
	Amortization start (year)	4	4	0
	Loan structure	Amortizing	Amortizing
	Total loan amount	1,500,000,000	1,500,000,000	0
	Loan disbursement start	1	1	0
	Loan disbursement end	3	3	0
	# years	3	3
	(F) Project Financing Assumptions
	Size and timing of Equity and Grant Contributions		Year
		Amount	1	2	3	4	5	Total	Check
	Equity Contributions	5,000,000,000	33%	33%	33%	0%	0%	100%	0
	CHIPS Direct Funding Contributions	0	33%	33%	33%	0%	0%	100%	0
	State and Local Incentives	0	33%	33%	33%	0%	0%	100%	0
	(G) Tax Assumptions
			Check
	Tax Rate	21%	0
	Investment Tax Credit (ITC) rebate	25%	0
	% of Qualifying Depreciable Capex for ITC	82%	0
	(H) Depreciation Assumptions
		Years	Check
	Construction	15	0
	Equipment	6	0
	Administrative Expenses directly attributable to facility construction	6	0
	Infrastructure Improvements	6	0
	Other Capital Investment	6	0
	Ongoing annual capital investment (after facility initiates operation)	6	0
	(I) Working Capital Assumptions
			Check
	Days in Receivables	30	0
	Days Inventory	30	0
	Days in Payables	30	0
	Months Debt Service to Restricted Cash	6	0
	(J) Distributions
			Check
	Year distributions start	5	0
	Minimum cash balance	150,000,000	0
	Year	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Period Cash Balance (Pre Distribution)	1,937,916,667	2,210,353,556	3,236,610,581	4,045,177,960	4,806,144,563	813,325,771	714,016,330	534,823,622	721,622,222	770,791,986	825,192,801	755,078,984	688,585,343	625,536,266	565,764,099	502,987,333	443,174,782	392,302,290	344,109,428	298,463,720
	Period Cash Balance (Post distribution)	1,937,916,667	2,210,353,556	3,236,610,581	4,045,177,960	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000
	Distribution	0	0	0	0	4,656,144,563	663,325,771	564,016,330	384,823,622	571,622,222	620,791,986	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720
	Cash Balance Check	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

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Sheet 4: Processing >>

Processing >>

See the following tabs (Assumptions Processing, Depreciation Schedule) directly following this tab

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Sheet 5: Assumptions Processing

Assumptions Processing
Helper worksheet to structure inputs for model outputs			Year	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Project Capital Costs
	Land			100,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Construction			550,000,000	550,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Equipment			-	3,000,000,000	3,000,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Administrative Expenses directly attributable to facility construction			25,000,000	25,000,000	50,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Infrastructure Improvements			25,000,000	25,000,000	50,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Other Capital Investment			150,000,000	150,000,000	300,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Ongoing annual capital investment (after facility initiates operation)			-	-	-	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000
	Total Annual Capital Expenditures			850,000,000	3,750,000,000	3,400,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000
	Project Revenue
	Production			-	80,000	160,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000	240,000
	Price per Unit (USD)			16,000	16,000	15,200	14,440	13,718	13,032	12,380	11,761	11,173	10,615	10,084	9,580	9,101	8,646	8,213	7,803	7,413	7,042	6,690	6,355
	Net Sales			-	1,280,000,000	2,432,000,000	3,465,600,000	3,292,320,000	3,127,704,000	2,971,318,800	2,822,752,860	2,681,615,217	2,547,534,456	2,420,157,733	2,299,149,847	2,184,192,354	2,074,982,737	1,971,233,600	1,872,671,920	1,779,038,324	1,690,086,408	1,605,582,087	1,525,302,983
	Operating Costs
	Materials / Consumables / Chemicals			-	166,666,667	333,333,333	500,000,000	485,000,000	470,450,000	456,336,500	442,646,405	429,367,013	416,486,002	403,991,422	391,871,680	380,115,529	368,712,063	357,650,702	346,921,180	336,513,545	326,418,139	316,625,595	307,126,827
	Labor			-	133,333,333	266,666,667	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000
	Utilities			-	66,666,667	133,333,333	200,000,000	196,000,000	192,080,000	188,238,400	184,473,632	180,784,159	177,168,476	173,625,107	170,152,605	166,749,552	163,414,561	160,146,270	156,943,345	153,804,478	150,728,388	147,713,821	144,759,544
	SG&A			-	100,000,000	200,000,000	300,000,000	285,000,000	270,750,000	257,212,500	244,351,875	232,134,281	220,527,567	209,501,189	199,026,129	189,074,823	179,621,082	170,640,028	162,108,026	154,002,625	146,302,494	138,987,369	132,038,001
	R&D			-	50,000,000	100,000,000	150,000,000	138,000,000	126,960,000	116,803,200	107,458,944	98,862,228	90,953,250	83,676,990	76,982,831	70,824,204	65,158,268	59,945,607	55,149,958	50,737,961	46,678,925	42,944,611	39,509,042
	[Other Costs #1]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	[Other Costs #2]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	[Other Costs #3]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Total Operating Costs			-	516,666,667	1,033,333,333	1,550,000,000	1,504,000,000	1,460,240,000	1,418,590,600	1,378,930,856	1,341,147,682	1,305,135,296	1,270,794,708	1,238,033,245	1,206,764,109	1,176,905,975	1,148,382,606	1,121,122,510	1,095,058,609	1,070,127,945	1,046,271,395	1,023,433,413
	Senior Debt Assumptions and Schedule
									Anchor Date
	Outstanding Principal (Start of Year)			-	500,000,000	1,000,000,000	1,500,000,000	1,315,770,272	1,122,329,058	919,215,784	705,946,845	482,014,460	246,885,455	-	-	-	-	-	-	-	-	-	-
	Draws on Principal			500,000,000	500,000,000	500,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Senior Debt Principal Repayments			-	-	-	184,229,728	193,441,214	203,113,275	213,268,938	223,932,385	235,129,005	246,885,455	-	-	-	-	-	-	-	-	-	-
	Outstanding Principal (End of Year)			500,000,000	1,000,000,000	1,500,000,000	1,315,770,272	1,122,329,058	919,215,784	705,946,845	482,014,460	246,885,455	-	-	-	-	-	-	-	-	-	-	-
	Senior Debt Interest			12,500,000	37,500,000	62,500,000	70,394,257	60,952,483	51,038,621	40,629,066	29,699,033	18,222,498	6,172,136	-	-	-	-	-	-	-	-	-	-
	Total Senior Debt Service			-	-	-	184,229,728	193,441,214	203,113,275	213,268,938	223,932,385	235,129,005	246,885,455	-	-	-	-	-	-	-	-	-	-
	Subordinated Debt -- Assumptions and Schedule
									Anchor Date
	Outstanding Principal (Start of Year)			-	500,000,000	1,000,000,000	1,500,000,000	1,244,315,318	968,175,862	669,945,249	347,856,187	-	-	-	-	-	-	-	-	-	-	-	-
	Draws on Principal			500,000,000	500,000,000	500,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Subordinated Debt Principal Repayments			-	-	-	255,684,682	276,139,456	298,230,613	322,089,062	347,856,187	-	-	-	-	-	-	-	-	-	-	-	-
	Outstanding Principal (End of Year)			500,000,000	1,000,000,000	1,500,000,000	1,244,315,318	968,175,862	669,945,249	347,856,187	-	-	-	-	-	-	-	-	-	-	-	-	-
	Subordinated Debt Interest			20,000,000	37,500,000	62,500,000	68,607,883	55,312,279	40,953,028	25,445,036	8,696,405	-	-	-	-	-	-	-	-	-	-	-	-
	Total Subordinated Debt Service			-	-	-	255,684,682	276,139,456	298,230,613	322,089,062	347,856,187	-	-	-	-	-	-	-	-	-	-	-	-
	Grant Assumptions
	Equity Contributions			1,666,666,667	1,666,666,667	1,666,666,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	CHIPS Direct Funding Contributions			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	State and Local Incentives			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Assumptions
	Construction			29,150,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	29,150,000	-	-	-	-
	Equipment			-	397,500,000	795,000,000	795,000,000	795,000,000	795,000,000	795,000,000	397,500,000	-	-	-	-	-	-	-	-	-	-	-	-
	Administrative Expenses directly attributable to facility construction			3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Infrastructure Improvements			3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Other Capital Investment			19,875,000	39,750,000	79,500,000	79,500,000	79,500,000	79,500,000	59,625,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-
	Ongoing annual capital investment (after facility initiates operation)			-	-	-	53,333,333	106,666,667	160,000,000	213,333,333	266,666,667	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000
	Total Annual Depreciation Exp.			55,650,000	508,800,000	959,300,000	1,012,633,333	1,065,966,667	1,119,300,000	1,146,133,333	775,466,667	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	349,150,000	320,000,000	320,000,000	320,000,000	320,000,000

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Sheet 6: Depreciation Schedule

Depreciation Schedule
Helper worksheet to calculate depreciation and investment tax credit
	Year			1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Investment Tax Credit
	ITC effective rate	21%
	ITC Calcuation
	ITC from Construction			112,750,000	112,750,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	ITC from Equipment			-	615,000,000	615,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	ITC from Administrative Expenses			5,125,000	5,125,000	10,250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	ITC from Infrastructure Improvements			5,125,000	5,125,000	10,250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	ITC from Other Capital Expenses			30,750,000	30,750,000	61,500,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Total ITC			153,750,000	768,750,000	697,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Schedule: Construction
	Construction (Capex) pre ITC			550,000,000	550,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Construction (Capex) post ITC			437,250,000	437,250,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-			Capex post ITC
				Deprec. Table
				29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	-	-	-	-	-		1	437,250,000
					29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	29,150,000	-	-	-	-		2	437,250,000
						-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		3	-
							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		4	-
								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		5	-
									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		6	-
										-	-	-	-	-	-	-	-	-	-	-	-	-	-		7	-
											-	-	-	-	-	-	-	-	-	-	-	-	-		8	-
												-	-	-	-	-	-	-	-	-	-	-	-		9	-
													-	-	-	-	-	-	-	-	-	-	-		10	-
														-	-	-	-	-	-	-	-	-	-		11	-
															-	-	-	-	-	-	-	-	-		12	-
																-	-	-	-	-	-	-	-		13	-
																	-	-	-	-	-	-	-		14	-
																		-	-	-	-	-	-		15	-
																			-	-	-	-	-		16	-
																				-	-	-	-		17	-
																					-	-	-		18	-
																						-	-		19	-
																							-		20	-
				29,150,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	29,150,000	-	-	-	-
	Depreciation Schedule: Equipment
	Equipment (Capex) pre ITC			-	3,000,000,000	3,000,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Equipment (Capex) post ITC			-	2,385,000,000	2,385,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-			Capex post ITC
				Deprec. Table
				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		1	-
					397,500,000	397,500,000	397,500,000	397,500,000	397,500,000	397,500,000	-	-	-	-	-	-	-	-	-	-	-	-	-		2	2,385,000,000
						397,500,000	397,500,000	397,500,000	397,500,000	397,500,000	397,500,000	-	-	-	-	-	-	-	-	-	-	-	-		3	2,385,000,000
							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		4	-
								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		5	-
									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		6	-
										-	-	-	-	-	-	-	-	-	-	-	-	-	-		7	-
											-	-	-	-	-	-	-	-	-	-	-	-	-		8	-
												-	-	-	-	-	-	-	-	-	-	-	-		9	-
													-	-	-	-	-	-	-	-	-	-	-		10	-
														-	-	-	-	-	-	-	-	-	-		11	-
															-	-	-	-	-	-	-	-	-		12	-
																-	-	-	-	-	-	-	-		13	-
																	-	-	-	-	-	-	-		14	-
																		-	-	-	-	-	-		15	-
																			-	-	-	-	-		16	-
																				-	-	-	-		17	-
																					-	-	-		18	-
																						-	-		19	-
																							-		20	-
				-	397,500,000	795,000,000	795,000,000	795,000,000	795,000,000	795,000,000	397,500,000	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Schedule: Administrative Expenses directly attributable to facility construction
	Admin (Capex) pre ITC			25,000,000	25,000,000	50,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Admin (Capex) post ITC			19,875,000	19,875,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-			Capex post ITC
				Deprec. Table
				3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-		1	19,875,000
					3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	-	-	-	-	-	-	-	-	-	-	-	-	-		2	19,875,000
						6,625,000	6,625,000	6,625,000	6,625,000	6,625,000	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-		3	39,750,000
							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		4	-
								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		5	-
									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		6	-
										-	-	-	-	-	-	-	-	-	-	-	-	-	-		7	-
											-	-	-	-	-	-	-	-	-	-	-	-	-		8	-
												-	-	-	-	-	-	-	-	-	-	-	-		9	-
													-	-	-	-	-	-	-	-	-	-	-		10	-
														-	-	-	-	-	-	-	-	-	-		11	-
															-	-	-	-	-	-	-	-	-		12	-
																-	-	-	-	-	-	-	-		13	-
																	-	-	-	-	-	-	-		14	-
																		-	-	-	-	-	-		15	-
																			-	-	-	-	-		16	-
																				-	-	-	-		17	-
																					-	-	-		18	-
																						-	-		19	-
																							-		20	-
				3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Schedule: Infrastructure Improvements
	Infra Improvement (Capex) pre ITC			25,000,000	25,000,000	50,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Infra Improvement (CapEx) post ITC			19,875,000	19,875,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-			Capex post ITC
				Deprec. Table
				3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-		1	19,875,000
					3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	3,312,500	-	-	-	-	-	-	-	-	-	-	-	-	-		2	19,875,000
						6,625,000	6,625,000	6,625,000	6,625,000	6,625,000	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-		3	39,750,000
							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		4	-
								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		5	-
									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		6	-
										-	-	-	-	-	-	-	-	-	-	-	-	-	-		7	-
											-	-	-	-	-	-	-	-	-	-	-	-	-		8	-
												-	-	-	-	-	-	-	-	-	-	-	-		9	-
													-	-	-	-	-	-	-	-	-	-	-		10	-
														-	-	-	-	-	-	-	-	-	-		11	-
															-	-	-	-	-	-	-	-	-		12	-
																-	-	-	-	-	-	-	-		13	-
																	-	-	-	-	-	-	-		14	-
																		-	-	-	-	-	-		15	-
																			-	-	-	-	-		16	-
																				-	-	-	-		17	-
																					-	-	-		18	-
																						-	-		19	-
																							-		20	-
				3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Schedule: Other Capital Investment
	Other (Capex) pre ITC			150,000,000	150,000,000	300,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Other (Capex) post ITC			119,250,000	119,250,000	238,500,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-			Capex post ITC
				Deprec. Table
				19,875,000	19,875,000	19,875,000	19,875,000	19,875,000	19,875,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-		1	119,250,000
					19,875,000	19,875,000	19,875,000	19,875,000	19,875,000	19,875,000	-	-	-	-	-	-	-	-	-	-	-	-	-		2	119,250,000
						39,750,000	39,750,000	39,750,000	39,750,000	39,750,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-		3	238,500,000
							-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		4	-
								-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		5	-
									-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		6	-
										-	-	-	-	-	-	-	-	-	-	-	-	-	-		7	-
											-	-	-	-	-	-	-	-	-	-	-	-	-		8	-
												-	-	-	-	-	-	-	-	-	-	-	-		9	-
													-	-	-	-	-	-	-	-	-	-	-		10	-
														-	-	-	-	-	-	-	-	-	-		11	-
															-	-	-	-	-	-	-	-	-		12	-
																-	-	-	-	-	-	-	-		13	-
																	-	-	-	-	-	-	-		14	-
																		-	-	-	-	-	-		15	-
																			-	-	-	-	-		16	-
																				-	-	-	-		17	-
																					-	-	-		18	-
																						-	-		19	-
																							-		20	-
				19,875,000	39,750,000	79,500,000	79,500,000	79,500,000	79,500,000	59,625,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-
	Depreciation Schedule: Ongoing capital expenditures (after facility initiates operation)
	Ongoing Capital Expenditures (CapEx)			-	-	-	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000			Capex post ITC
				Deprec. Table
				-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		1	-
					-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		2	-
						-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-		3	-
							53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-	-	-	-	-	-		4	320,000,000
								53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-	-	-	-	-		5	320,000,000
									53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-	-	-	-		6	320,000,000
										53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-	-	-		7	320,000,000
											53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-	-		8	320,000,000
												53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-	-		9	320,000,000
													53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-	-		10	320,000,000
														53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-	-		11	320,000,000
															53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-	-		12	320,000,000
																53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-	-		13	320,000,000
																	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	-		14	320,000,000
																		53,333,333	53,333,333	53,333,333	53,333,333	53,333,333	53,333,333		15	320,000,000
																			53,333,333	53,333,333	53,333,333	53,333,333	53,333,333		16	320,000,000
																				53,333,333	53,333,333	53,333,333	53,333,333		17	320,000,000
																					53,333,333	53,333,333	53,333,333		18	320,000,000
																						53,333,333	53,333,333		19	320,000,000
																							53,333,333		20	320,000,000
				-	-	-	53,333,333	106,666,667	160,000,000	213,333,333	266,666,667	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000

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Sheet 7: Outputs >>

Outputs>>

See the following tabs (Income Statement, CashFlow, & Balance Sheet) directly following this tab

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Sheet 8: Income Statement

Income Statement
Model output summarizing income statement for the project
	Year			1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Operating Income
	Net Sales			-	1,280,000,000	2,432,000,000	3,465,600,000	3,292,320,000	3,127,704,000	2,971,318,800	2,822,752,860	2,681,615,217	2,547,534,456	2,420,157,733	2,299,149,847	2,184,192,354	2,074,982,737	1,971,233,600	1,872,671,920	1,779,038,324	1,690,086,408	1,605,582,087	1,525,302,983
	Other Operating Income			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	CHIPS Direct Funding Contributions			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	State and Local Incentives			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Total Revenue			-	1,280,000,000	2,432,000,000	3,465,600,000	3,292,320,000	3,127,704,000	2,971,318,800	2,822,752,860	2,681,615,217	2,547,534,456	2,420,157,733	2,299,149,847	2,184,192,354	2,074,982,737	1,971,233,600	1,872,671,920	1,779,038,324	1,690,086,408	1,605,582,087	1,525,302,983
	Operating Expenses
	Materials / Consumables / Chemicals			-	166,666,667	333,333,333	500,000,000	485,000,000	470,450,000	456,336,500	442,646,405	429,367,013	416,486,002	403,991,422	391,871,680	380,115,529	368,712,063	357,650,702	346,921,180	336,513,545	326,418,139	316,625,595	307,126,827
	Labor			-	133,333,333	266,666,667	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000	400,000,000
	Utilities			-	66,666,667	133,333,333	200,000,000	196,000,000	192,080,000	188,238,400	184,473,632	180,784,159	177,168,476	173,625,107	170,152,605	166,749,552	163,414,561	160,146,270	156,943,345	153,804,478	150,728,388	147,713,821	144,759,544
	SG&A			-	100,000,000	200,000,000	300,000,000	285,000,000	270,750,000	257,212,500	244,351,875	232,134,281	220,527,567	209,501,189	199,026,129	189,074,823	179,621,082	170,640,028	162,108,026	154,002,625	146,302,494	138,987,369	132,038,001
	R&D			-	50,000,000	100,000,000	150,000,000	138,000,000	126,960,000	116,803,200	107,458,944	98,862,228	90,953,250	83,676,990	76,982,831	70,824,204	65,158,268	59,945,607	55,149,958	50,737,961	46,678,925	42,944,611	39,509,042
	[Other Costs #1]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	[Other Costs #2]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	[Other Costs #3]			-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Total Operating Expenses			-	516,666,667	1,033,333,333	1,550,000,000	1,504,000,000	1,460,240,000	1,418,590,600	1,378,930,856	1,341,147,682	1,305,135,296	1,270,794,708	1,238,033,245	1,206,764,109	1,176,905,975	1,148,382,606	1,121,122,510	1,095,058,609	1,070,127,945	1,046,271,395	1,023,433,413
	Depreciation Expense
	Construction			29,150,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	58,300,000	29,150,000	-	-	-	-
	Equipment			-	397,500,000	795,000,000	795,000,000	795,000,000	795,000,000	795,000,000	397,500,000	-	-	-	-	-	-	-	-	-	-	-	-
	Administrative Expenses directly attributable to facility construction			3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Infrastructure Improvements			3,312,500	6,625,000	13,250,000	13,250,000	13,250,000	13,250,000	9,937,500	6,625,000	-	-	-	-	-	-	-	-	-	-	-	-
	Other Capital Investment			19,875,000	39,750,000	79,500,000	79,500,000	79,500,000	79,500,000	59,625,000	39,750,000	-	-	-	-	-	-	-	-	-	-	-	-
	Ongoing annual capital investment (after facility initiates operation)			-	-	-	53,333,333	106,666,667	160,000,000	213,333,333	266,666,667	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000	320,000,000
	Total Depreciation Expense			55,650,000	508,800,000	959,300,000	1,012,633,333	1,065,966,667	1,119,300,000	1,146,133,333	775,466,667	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	349,150,000	320,000,000	320,000,000	320,000,000	320,000,000
	Interest Income (Expense)
	Senior Debt Interest			(12,500,000)	(37,500,000)	(62,500,000)	(70,394,257)	(60,952,483)	(51,038,621)	(40,629,066)	(29,699,033)	(18,222,498)	(6,172,136)	-	-	-	-	-	-	-	-	-	-
	Subordinated Debt Interest			(20,000,000)	(37,500,000)	(62,500,000)	(68,607,883)	(55,312,279)	(40,953,028)	(25,445,036)	(8,696,405)	-	-	-	-	-	-	-	-	-	-	-	-
	Total Interest Income (Expense)			(32,500,000)	(75,000,000)	(125,000,000)	(139,002,140)	(116,264,763)	(91,991,649)	(66,074,102)	(38,395,437)	(18,222,498)	(6,172,136)	-	-	-	-	-	-	-	-	-	-
	Total Expenses			88,150,000	1,100,466,667	2,117,633,333	2,701,635,473	2,686,231,429	2,671,531,649	2,630,798,035	2,192,792,960	1,737,670,180	1,689,607,432	1,649,094,708	1,616,333,245	1,585,064,109	1,555,205,975	1,526,682,606	1,470,272,510	1,415,058,609	1,390,127,945	1,366,271,395	1,343,433,413
	Earnings Before Tax			(88,150,000)	179,533,333	314,366,667	763,964,527	606,088,571	456,172,351	340,520,765	629,959,900	943,945,037	857,927,024	771,063,025	682,816,602	599,128,245	519,776,762	444,550,994	402,399,410	363,979,714	299,958,462	239,310,692	181,869,570
	Taxes			-	37,702,000	66,017,000	160,432,551	127,278,600	95,796,194	71,509,361	132,291,579	198,228,458	180,164,675	161,923,235	143,391,486	125,816,931	109,153,120	93,355,709	84,503,876	76,435,740	62,991,277	50,255,245	38,192,610
	Net Income			(88,150,000)	141,831,333	248,349,667	603,531,976	478,809,971	360,376,157	269,011,404	497,668,321	745,716,579	677,762,349	609,139,790	539,425,116	473,311,314	410,623,642	351,195,285	317,895,534	287,543,974	236,967,185	189,055,447	143,676,960
	Excess Cash (available for distributions)			-	-	-	-	4,656,144,563	663,325,771	564,016,330	384,823,622	571,622,222	620,791,986	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720
	Addition to Retained Earnings			(88,150,000)	141,831,333	248,349,667	603,531,976	(4,177,334,592)	(302,949,614)	(295,004,926)	112,844,699	174,094,357	56,970,363	(66,053,011)	(65,653,869)	(65,274,030)	(64,912,624)	(64,568,814)	(35,091,799)	(5,630,808)	(5,335,104)	(5,053,981)	(4,786,760)

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Sheet 9: CashFlow

Cash Flow Statement
Model output summarizing a cash flow statement for the project
	Year		1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Operating Cash Flow
	Net Earnings		(88,150,000)	141,831,333	248,349,667	603,531,976	478,809,971	360,376,157	269,011,404	497,668,321	745,716,579	677,762,349	609,139,790	539,425,116	473,311,314	410,623,642	351,195,285	317,895,534	287,543,974	236,967,185	189,055,447	143,676,960
	+Depreciation & Amortization		55,650,000	508,800,000	959,300,000	1,012,633,333	1,065,966,667	1,119,300,000	1,146,133,333	775,466,667	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	378,300,000	349,150,000	320,000,000	320,000,000	320,000,000	320,000,000
	Change in Receivables		-	(106,666,667)	(96,000,000)	(86,133,333)	14,440,000	13,718,000	13,032,100	12,380,495	11,761,470	11,173,397	10,614,727	10,083,991	9,579,791	9,100,801	8,645,761	8,213,473	7,802,800	7,412,660	7,042,027	6,689,925
	Change in Inventory		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Change in Payables/Other Curr. Liabilities		-	43,055,556	43,055,556	43,055,556	(3,833,333)	(3,646,667)	(3,470,783)	(3,304,979)	(3,148,598)	(3,001,032)	(2,861,716)	(2,730,122)	(2,605,761)	(2,488,178)	(2,376,947)	(2,271,675)	(2,171,992)	(2,077,555)	(1,988,046)	(1,903,165)
	Cash from Operations		(32,500,000)	587,020,222	1,154,705,222	1,573,087,532	1,555,383,304	1,489,747,491	1,424,706,054	1,282,210,504	1,132,629,452	1,064,234,713	995,192,801	925,078,984	858,585,343	795,536,266	735,764,099	672,987,333	613,174,782	562,302,290	514,109,428	468,463,720
	Investing Cash Flow
	Land		(100,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Construction		(550,000,000)	(550,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Equipment		-	(3,000,000,000)	(3,000,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Administrative Expenses directly attributable to facility construction		(25,000,000)	(25,000,000)	(50,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Infrastructure Improvements		(25,000,000)	(25,000,000)	(50,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Other Capital Investment		(150,000,000)	(150,000,000)	(300,000,000)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Ongoing annual capital investment (after facility initiates operation)		-	-	-	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)
	Investments in Property & Equipment		(850,000,000)	(3,750,000,000)	(3,400,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)
	Investment tax credit		153,750,000	768,750,000	697,000,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Cash from Investing		(696,250,000)	(2,981,250,000)	(2,703,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)	(320,000,000)
	Financing Cash Flow
	Equity Inflow (Outflow)		1,666,666,667	1,666,666,667	1,666,666,667	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Draw (repayment) CHIPS loans		500,000,000	500,000,000	500,000,000	(184,229,728)	(193,441,214)	(203,113,275)	(213,268,938)	(223,932,385)	(235,129,005)	(246,885,455)	-	-	-	-	-	-	-	-	-	-
	Draw (repayment) Non-CHIPS loans		500,000,000	500,000,000	500,000,000	(255,684,682)	(276,139,456)	(298,230,613)	(322,089,062)	(347,856,187)	-	-	-	-	-	-	-	-	-	-	-	-
	Equity Payouts		-	-	-	-	(4,656,144,563)	(663,325,771)	(564,016,330)	(384,823,622)	(571,622,222)	(620,791,986)	(675,192,801)	(605,078,984)	(538,585,343)	(475,536,266)	(415,764,099)	(352,987,333)	(293,174,782)	(242,302,290)	(194,109,428)	(148,463,720)
	Cash from Financing		2,666,666,667	2,666,666,667	2,666,666,667	(439,914,410)	(5,125,725,233)	(1,164,669,659)	(1,099,374,331)	(956,612,194)	(806,751,227)	(867,677,441)	(675,192,801)	(605,078,984)	(538,585,343)	(475,536,266)	(415,764,099)	(352,987,333)	(293,174,782)	(242,302,290)	(194,109,428)	(148,463,720)
	Beginning Cash Balance		-	1,937,916,667	2,210,353,556	3,236,610,581	4,045,177,960	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000
	Net Increase (decrease) in Cash		1,937,916,667	272,436,889	1,118,371,889	813,173,122	(3,890,341,929)	5,077,832	5,331,723	5,598,310	5,878,225	(123,442,727)	-	-	-	-	-	-	-	-	-	-
	Cash (to)/from debt reserve		-	-	(92,114,864)	(4,605,743)	(4,836,030)	(5,077,832)	(5,331,723)	(5,598,310)	(5,878,225)	123,442,727	-	-	-	-	-	-	-	-	-	-
	Ending Cash Balance		1,937,916,667	2,210,353,556	3,236,610,581	4,045,177,960	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000
	Debt Service Coverage
	Total Debt Service Coverage
	Net Cash Flow		1,937,916,667	272,436,889	1,118,371,889	813,173,122	(3,890,341,929)	5,077,832	5,331,723	5,598,310	5,878,225	(123,442,727)	-	-	-	-	-	-	-	-	-	-
	+Interest & Fee Expense		32,500,000	75,000,000	125,000,000	139,002,140	116,264,763	91,991,649	66,074,102	38,395,437	18,222,498	6,172,136	-	-	-	-	-	-	-	-	-	-
	+Principal Repayment		-	-	-	439,914,410	469,580,670	501,343,888	535,358,000	571,788,572	235,129,005	246,885,455	-	-	-	-	-	-	-	-	-	-
	+Equity Payouts		-	-	-	-	4,656,144,563	663,325,771	564,016,330	384,823,622	571,622,222	620,791,986	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720
	Total CADS		1,970,416,667	347,436,889	1,243,371,889	1,392,089,672	1,351,648,067	1,261,739,140	1,170,780,156	1,000,605,941	830,851,950	750,406,850	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720
	Interest & Fee Expense		32,500,000	75,000,000	125,000,000	139,002,140	116,264,763	91,991,649	66,074,102	38,395,437	18,222,498	6,172,136	-	-	-	-	-	-	-	-	-	-
	Principal Repayment		-	-	-	439,914,410	469,580,670	501,343,888	535,358,000	571,788,572	235,129,005	246,885,455	-	-	-	-	-	-	-	-	-	-
	Total Debt Service		32,500,000	75,000,000	125,000,000	578,916,549	585,845,433	593,335,536	601,432,102	610,184,010	253,351,503	253,057,591	-	-	-	-	-	-	-	-	-	-
	Total CADS/Total Debt Service		61	5	10	2	2	2	2	2	3	3	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
	Average Debt Service Coverage		9
	Cash Flow to Equity
	Equity Investment		(1,666,666,667)	(1,666,666,667)	(1,666,666,667)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Equity Payouts		-	-	-	-	4,656,144,563	663,325,771	564,016,330	384,823,622	571,622,222	620,791,986	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720
	Net Cash Flow to Equity		(1,666,666,667)	(1,666,666,667)	(1,666,666,667)	-	4,656,144,563	663,325,771	564,016,330	384,823,622	571,622,222	620,791,986	675,192,801	605,078,984	538,585,343	475,536,266	415,764,099	352,987,333	293,174,782	242,302,290	194,109,428	148,463,720

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Sheet 10: Balance Sheet

Balance Sheet
Model output summarizing a balance sheet for the project
	Year		1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20
	Assets
	Current Assets
	Cash		1,937,916,667	2,210,353,556	3,236,610,581	4,045,177,960	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000	150,000,000
	Debt Service Reserve/Restricted Cash		-	-	92,114,864	96,720,607	101,556,637	106,634,469	111,966,193	117,564,502	123,442,727	-	-	-	-	-	-	-	-	-	-	-
	Accounts Receivable		-	106,666,667	202,666,667	288,800,000	274,360,000	260,642,000	247,609,900	235,229,405	223,467,935	212,294,538	201,679,811	191,595,821	182,016,030	172,915,228	164,269,467	156,055,993	148,253,194	140,840,534	133,798,507	127,108,582
	Inventory		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Total Current Assets		1,937,916,667	2,317,020,222	3,531,392,111	4,430,698,567	525,916,637	517,276,469	509,576,093	502,793,907	496,910,662	362,294,538	351,679,811	341,595,821	332,016,030	322,915,228	314,269,467	306,055,993	298,253,194	290,840,534	283,798,507	277,108,582
	Non-Current Assets
	Land		100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000
	Construction		550,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000	1,100,000,000
	Equipment		-	3,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000	6,000,000,000
	Administrative Expenses directly attributable to facility construction		25,000,000	50,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000
	Infrastructure Improvements		25,000,000	50,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000	100,000,000
	Other Capital Investment		150,000,000	300,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000	600,000,000
	Ongoing annual capital investment (after facility initiates operation)		-	-	-	320,000,000	640,000,000	960,000,000	1,280,000,000	1,600,000,000	1,920,000,000	2,240,000,000	2,560,000,000	2,880,000,000	3,200,000,000	3,520,000,000	3,840,000,000	4,160,000,000	4,480,000,000	4,800,000,000	5,120,000,000	5,440,000,000
	Accumulated reduction in asset value due to ITC		(153,750,000)	(922,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)	(1,619,500,000)
	Accumulated Depreciation		(55,650,000)	(564,450,000)	(1,523,750,000)	(2,536,383,333)	(3,602,350,000)	(4,721,650,000)	(5,867,783,333)	(6,643,250,000)	(7,021,550,000)	(7,399,850,000)	(7,778,150,000)	(8,156,450,000)	(8,534,750,000)	(8,913,050,000)	(9,291,350,000)	(9,640,500,000)	(9,960,500,000)	(10,280,500,000)	(10,600,500,000)	(10,920,500,000)
	Total Non-Current Assets		640,600,000	3,113,050,000	4,856,750,000	4,164,116,667	3,418,150,000	2,618,850,000	1,792,716,667	1,337,250,000	1,278,950,000	1,220,650,000	1,162,350,000	1,104,050,000	1,045,750,000	987,450,000	929,150,000	900,000,000	900,000,000	900,000,000	900,000,000	900,000,000
	Total Assets		2,578,516,667	5,430,070,222	8,388,142,111	8,594,815,233	3,944,066,637	3,136,126,469	2,302,292,759	1,840,043,907	1,775,860,662	1,582,944,538	1,514,029,811	1,445,645,821	1,377,766,030	1,310,365,228	1,243,419,467	1,206,055,993	1,198,253,194	1,190,840,534	1,183,798,507	1,177,108,582
	Liabilities and Net Worth
	Current Liabilities
	Accounts Payable		-	43,055,556	86,111,111	129,166,667	125,333,333	121,686,667	118,215,883	114,910,905	111,762,307	108,761,275	105,899,559	103,169,437	100,563,676	98,075,498	95,698,551	93,426,876	91,254,884	89,177,329	87,189,283	85,286,118
	Current Portion -- Long Term Debt		-	-	439,914,410	469,580,670	501,343,888	535,358,000	571,788,572	235,129,005	246,885,455	-	-	-	-	-	-	-	-	-	-	-
	Total Current Liabilities		-	43,055,556	526,025,521	598,747,337	626,677,221	657,044,667	690,004,456	350,039,909	358,647,762	108,761,275	105,899,559	103,169,437	100,563,676	98,075,498	95,698,551	93,426,876	91,254,884	89,177,329	87,189,283	85,286,118
	Non-Current Liabilities
	Long Term Debt-Senior		1,000,000,000	2,000,000,000	2,560,085,590	2,090,504,920	1,589,161,032	1,053,803,032	482,014,460	246,885,455	0	-	-	-	-	-	-	-	-	-	-	-
	Total Non-Current Liabilities		1,000,000,000	2,000,000,000	2,560,085,590	2,090,504,920	1,589,161,032	1,053,803,032	482,014,460	246,885,455	0	-	-	-	-	-	-	-	-	-	-	-
	Net Worth/Stockholders Equity
	Stock and Paid in Capital		1,666,666,667	3,333,333,333	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000	5,000,000,000
	Retained Earnings		(88,150,000)	53,681,333	302,031,000	905,562,976	(3,271,771,616)	(3,574,721,230)	(3,869,726,156)	(3,756,881,457)	(3,582,787,100)	(3,525,816,737)	(3,591,869,748)	(3,657,523,616)	(3,722,797,646)	(3,787,710,270)	(3,852,279,084)	(3,887,370,882)	(3,893,001,690)	(3,898,336,795)	(3,903,390,776)	(3,908,177,536)
	Total Net Worth		1,578,516,667	3,387,014,667	5,302,031,000	5,905,562,976	1,728,228,384	1,425,278,770	1,130,273,844	1,243,118,543	1,417,212,900	1,474,183,263	1,408,130,252	1,342,476,384	1,277,202,354	1,212,289,730	1,147,720,916	1,112,629,118	1,106,998,310	1,101,663,205	1,096,609,224	1,091,822,464
	Total Liabilites and Net Worth		2,578,516,667	5,430,070,222	8,388,142,111	8,594,815,233	3,944,066,637	3,136,126,469	2,302,292,759	1,840,043,907	1,775,860,662	1,582,944,538	1,514,029,811	1,445,645,821	1,377,766,030	1,310,365,228	1,243,419,467	1,206,055,993	1,198,253,194	1,190,840,534	1,183,798,507	1,177,108,582
	Reconciliation		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

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Sheet 11: Other >>

Processing >>

See the following tabs (Drop-Downs) directly following this tab

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Sheet 12: Drop-Downs

Drop-Downs
Helper worksheet to define options in tool’s drop downs
	Loan type
	Amortizing
	Bullet