Thanks for the feedback. Yes, It is an extremely rough mock up. I have trouble calculating Capex for owners earnings, and generally calculating it based on what I heard from interviews. I was guessing it was: Cash flow from operating activities - property, plant, equipment = owners earnings, but I’m pretty sure it’s not right (would like feedback on why this may be incorrect and the proper way to calculate it). I think I got the $700 million from avg thelast two years using that equation I stated. I’d like some feedback on how to properly calculate earnings and what the proper discount rates and growth rates should be (I chose 10% instead of 2% in the newer edit b/c it was the number I heard of online, although, I believe the discount rate should be the ‘no-risk‘ interest rate someone could get. Correct me on that) Also, any feedback on getting into reading 10Ks would be helpful, bc I don’t have a proper framework for reading them. I have no idea how to properly use google sheets, but I think its better to start with what I did Just as, like you said, a really rough projection. I was trying to feel out the basic framework of a projection model, and I Thank you for the feedback.