Originally Posted by
Gunfighter
Can you back up that claim with an accounting reference?
My reading of the PWA and understanding of GAAP leads to a different conclusion.
PTIX = Pre-tax income based on GAAP -PWA Section 2 216
Principle payments do not lower taxable income according to GAAP.
This exactly.
Debt paydown is a balance sheet and cashflow statement exercise. It does not affect GAAP income or PTIX negatively.
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