Right. What I mean is if Shell reports $32 billion in net income for 2023 and a capital budget of $22 billion in 2024, that $32 billion is not inclusive of the $22 billion in planned capital expense. Their profit is not $54 billion in net revenue minus the $22 billion in capital expenditure. The $32 billion in net revenue goes into the bank or under the mattress or where ever, and the $22 billion has to come from either that cash on hand or they have to borrow it. My point being that oil companies have to continually invest in new inventory, and that investment is not reflected in the net revenue, except as it relates to debt interest, amortization, and depreciation. It’s not dollar for dollar off the the top of the income statement. They are two different things.
Do the cash equivalents include those sweet, sweet racing cars?
Mrs Hawk just asked “is that what you guys talk about on your baseball site?” Only on off days, baby.
Reminds me, you’ve probably already figured this out but the other two Mescaleros records are must haves as well.
They are on the list.
I also now have all but one of Be-Bop Deluxe’s releases. Sunburst Finish is missing in my collection. I have the digital variety, and I really like it , so that’s also on the list. Bill Nelson might be the single most under appreciated guitarist of the last 50 years.
I basically set my CPA license on fire, but this is still preferable to what the team calls “baseball” lately.
It’s known, of course, as The Travelling Horseshit Show '24.
Perhaps inspiration for a musical sequel?
Eighth shutout for the White Sox in first 22 games, which sets a new record for futility.
On a separate note, I really dislike these alternate Twins caps, which make it look like the Marlins equipment guy snuck into the Twins’ clubhouse and punked them.
Framber TIME
Framber TIME
A two (actually even one) - seater with range for a 50 mile round trip commute was all I was looking for when we got the Leaf. Now, with hybrid work and another dozen years closer to retirement, I am more intrigued by the possibility of 1000 mile roadtrips without charging for a couple of empty nesters. Still not so sure about driving what is technically (I think) a motorcycle. Will have to keep an eye on how they’re doing.
It will be crash tested as an automobile, and doesn’t require a motorcycle license.
Apparently I missed the debate as to what “profit” means, so I’ll skip to the proof that is in the pudding.
Shell kept its dividend unchanged at $0.2875 per share and also kept the rate of its share repurchase programme stable at $4 billion over the next three months, even as its cash generation fell in the quarter to $14.15 billion from $22.4 billion in the previous quarter.
Shell is so concerned about future R&D costs that it spent almost half its quarter’s profit on buying back shares.
What is its towing capacity? Cause if you are going 1,000 miles and camping off the grid you will need something to haul your gear in.
The Cybertruck can cover that. If by 1000 you mean 10, and by gear you mean a small squirrel.
What’s the power consumption of a replicator? Because if we have one of those we can just shovel up some dirt when we get to our destination and spit out what we need.
Because paying back investors when times are good is the tool of the debil? What would you rather they do with the money? And R&D is peanuts.
You can’t argue it both ways that oil companies have to make massive profits in order to pay for E&P costs, and then say it doesn’t matter if they have money left over to buy back shares.
Shares are a liability on the balance sheet, but they aren’t costing Shell interest; they aren’t costing Shell anything. Buying them back is what companies do when they have a surplus of cash, which doesn’t track with a company who cannot fund its E&P efforts.
I didn’t. I said historically the vast majority of profit has been re-invested as capital, but in recent years more has gone to repay debt and pay investors. Those two things are not mutually exclusive.
Who says they can’t fund their E&P?
And again…what do you suggest they do with the money?
Make less.
