Comparative Operating Cycles
For Fiscal Years Ended
Dec 31
(In Days)

1995 1996 1997 1998 1999
Sales/Receivables 31 24 21 19 19
COGS/Inventory 94 74 80 89 79
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Operating Cycle 125 98 101 108 98
 
Purchases/Payables 25 19 19 26 12
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Days to be Financed 100 79 82 82 86
 
Purchases(000's) 19,305.0 18,969.0 22,587.0 24,796.0 27,256.0
 
Working Capital Avail. 4,671.0 6,249.0 7,034.0 7,171.0 8,581.0
Working Capital Needed 5,289.0 4,105.6 5,074.3 5,570.6 6,422.0
 
Buffer/(Deficit) (618.0) 2,143.4 1,959.7 1,600.4 2,159.0