finmodeling 0.1 → 0.2

data/lib/finmodeling/reformulated_cash_flow_statement.rb

@@ -2,41 +2,6 @@ module FinModeling
   class ReformulatedCashFlowStatement
     attr_accessor :period
 
-    class FakeCashChangeSummary
-      def initialize(re_cfs1, re_cfs2)
-        @re_cfs1 = re_cfs1
-        @re_cfs2 = re_cfs2
-      end
-      def filter_by_type(key)
-        case key
-          when :c
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Cash from Operations"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @re_cfs1.cash_from_operations.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@re_cfs2.cash_from_operations.total] ) ]
-            return @cs
-          when :i
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Cash Investments in Operations"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @re_cfs1.cash_investments_in_operations.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@re_cfs2.cash_investments_in_operations.total] ) ]
-            return @cs
-          when :d
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Payments to Debtholders"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @re_cfs1.payments_to_debtholders.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@re_cfs2.payments_to_debtholders.total] ) ]
-            return @cs
-          when :f
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Payments to Stockholders"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @re_cfs1.payments_to_stockholders.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@re_cfs2.payments_to_stockholders.total] ) ]
-            return @cs
-        end
-      end
-    end
-
     def initialize(period, cash_change_summary)
       @period   = period
 
@@ -50,7 +15,7 @@ module FinModeling
       @d.title = "Payments to debtholders"
       @f.title = "Payments to stockholders"
 
-      if cash_change_summary.class != FakeCashChangeSummary
+      if !(cash_change_summary.is_a? CashChangeSummaryFromDifferences)
         @d.rows << CalculationRow.new(:key => "Investment in Cash and Equivalents",
                                                         :type => :d,
                                                         :vals => [-cash_change_summary.total])
@@ -58,7 +23,7 @@ module FinModeling
     end
 
     def -(re_cfs2)
-      summary = FakeCashChangeSummary.new(self, re_cfs2)
+      summary = CashChangeSummaryFromDifferences.new(self, re_cfs2)
       return ReformulatedCashFlowStatement.new(@period, summary)
     end
 
@@ -105,10 +70,10 @@ module FinModeling
       analysis.header_row = CalculationHeader.new(:key => "", :vals =>  ["Unknown..."])
   
       analysis.rows = []
-      analysis.rows << CalculationRow.new(:key => "C ($MM)",   :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "I ($MM)",   :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "d ($MM)",   :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "F ($MM)",   :vals => [nil])
+      analysis.rows << CalculationRow.new(:key => "C   ($MM)", :vals => [nil])
+      analysis.rows << CalculationRow.new(:key => "I   ($MM)", :vals => [nil])
+      analysis.rows << CalculationRow.new(:key => "d   ($MM)", :vals => [nil])
+      analysis.rows << CalculationRow.new(:key => "F   ($MM)", :vals => [nil])
       analysis.rows << CalculationRow.new(:key => "FCF ($MM)", :vals => [nil])
       analysis.rows << CalculationRow.new(:key => "NI / C",    :vals => [nil])
  
@@ -136,5 +101,17 @@ module FinModeling
       return analysis
     end
 
+    ALLOWED_IMBALANCE = 1.0
+    def flows_are_balanced?
+      (free_cash_flow.total - financing_flows.total) < ALLOWED_IMBALANCE
+    end
+
+    def flows_are_plausible?
+      return [ payments_to_debtholders,
+               payments_to_stockholders,
+               cash_from_operations,
+               cash_investments_in_operations ].all?{ |x| x.total.abs > 1.0 }
+    end
+
   end
 end

data/lib/finmodeling/reformulated_income_statement.rb

@@ -1,86 +1,45 @@
 module FinModeling
   class ReformulatedIncomeStatement
     attr_accessor :period
+    attr_accessor :operating_revenues, :cost_of_revenues, :operating_expenses
 
-    class FakeNetIncomeSummary
-      def initialize(ris1, ris2)
-        @ris1 = ris1
-        @ris2 = ris2
-      end
-      def filter_by_type(key)
-        case key
-          when :or
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Operating Revenues"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.operating_revenues.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.operating_revenues.total] ) ]
-            return @cs
-          when :cogs
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Cost of Revenues"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.cost_of_revenues.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.cost_of_revenues.total] ) ]
-            return @cs
-          when :oe
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Operating Expenses"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.operating_expenses.total] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.operating_expenses.total] ) ]
-            return @cs
-          when :oibt
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Operating Income from Sales, Before taxes"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.operating_income_after_tax.rows[1].vals.first] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.operating_income_after_tax.rows[1].vals.first] ) ]
-            return @cs
-          when :fibt
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Financing Income, Before Taxes"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.net_financing_income.rows[0].vals.first] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.net_financing_income.rows[0].vals.first] ) ]
-            return @cs
-          when :tax
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Taxes"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.income_from_sales_after_tax.rows[1].vals.first] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.income_from_sales_after_tax.rows[1].vals.first] ) ]
-            return @cs
-          when :ooiat
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Other Operating Income, After Taxes"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.operating_income_after_tax.rows[3].vals.first] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.operating_income_after_tax.rows[3].vals.first] ) ]
-            return @cs
-          when :fiat
-            @cs = FinModeling::CalculationSummary.new
-            @cs.title = "Financing Income, After Taxes"
-            @cs.rows = [ CalculationRow.new(:key => "First  Row", :vals => [ @ris1.net_financing_income.rows[2].vals.first] ),
-                         CalculationRow.new(:key => "Second Row", :vals => [-@ris2.net_financing_income.rows[2].vals.first] ) ]
-            return @cs
-        end
-      end
-    end
-
-    def initialize(period, net_income_summary, tax_rate=0.35)
+    def initialize(period, net_income_summary, comprehensive_income_summary, tax_rate=0.35) # FIXME: clarify naming. This is effective tax rate? marginal? statutory?
       @period   = period
       @tax_rate = tax_rate
-
-      @orev  = net_income_summary.filter_by_type(:or   )
-      @cogs  = net_income_summary.filter_by_type(:cogs )
-      @oe    = net_income_summary.filter_by_type(:oe   )
-      @oibt  = net_income_summary.filter_by_type(:oibt )
-      @fibt  = net_income_summary.filter_by_type(:fibt )
-      @tax   = net_income_summary.filter_by_type(:tax  )
-      @ooiat = net_income_summary.filter_by_type(:ooiat)
-      @fiat  = net_income_summary.filter_by_type(:fiat )
+     
+      @operating_revenues = net_income_summary.filter_by_type(:or  )
+      @cost_of_revenues   = net_income_summary.filter_by_type(:cogs)
+      @operating_expenses = net_income_summary.filter_by_type(:oe  )
+      @oibt      = net_income_summary.filter_by_type(:oibt     )
+      @fibt      = net_income_summary.filter_by_type(:fibt     )
+      @tax       = net_income_summary.filter_by_type(:tax      )
+      @ooiat     = net_income_summary.filter_by_type(:ooiat    )
+      @ooiat_nci = net_income_summary.filter_by_type(:ooiat_nci)
+      @fiat      = net_income_summary.filter_by_type(:fiat     )
+
+      # If there is a CI statement:
+      #   Strip O-NCI-OCI out of the NI calculation (***)
+      #   Double-check that the NI portion of the CI calculation matches (NI minus O-NCI-OCI)
+      #   Add OOCI + 1/2 of the UNKOCI in as an OOIAT
+      #   Add FOCI + 1/2 of the UNKOCI in as a FIAT
+      if comprehensive_income_summary
+        @ooiat.rows += comprehensive_income_summary.filter_by_type(:ooci).rows
+        @ooiat.rows += comprehensive_income_summary.filter_by_type(:ooci_nci).rows
+        @fiat.rows  += comprehensive_income_summary.filter_by_type(:foci).rows
+        comprehensive_income_summary.filter_by_type(:unkoci).rows.each do |row|
+          row.vals = row.vals.map{ |val| val / 2.0 }
+          @ooiat.rows << row
+          @fiat.rows << row
+        end
+      end
     
       @fibt_tax_effect = (@fibt.total * @tax_rate).round.to_f
       @nfi = @fibt.total + -@fibt_tax_effect + @fiat.total
     
       @oibt_tax_effect = (@oibt.total * @tax_rate).round.to_f
     
-      @gm = @orev.total + @cogs.total
-      @oisbt = @gm + @oe.total
+      @gm = @operating_revenues.total + @cost_of_revenues.total
+      @oisbt = @gm + @operating_expenses.total
     
       @oisat = @oisbt + @tax.total + @fibt_tax_effect + @oibt_tax_effect
     
@@ -90,35 +49,23 @@ module FinModeling
     end
 
     def -(ris2)
-      net_income_summary = FakeNetIncomeSummary.new(self, ris2)
-      return ReformulatedIncomeStatement.new(@period, net_income_summary, @tax_rate)
-    end
-
-    def operating_revenues
-      @orev
-    end
-
-    def cost_of_revenues
-      @cogs
+      net_income_summary = NetIncomeSummaryFromDifferences.new(self, ris2)
+      return ReformulatedIncomeStatement.new(@period, net_income_summary, nil, @tax_rate)
     end
 
     def gross_revenue
       cs = FinModeling::CalculationSummary.new
       cs.title = "Gross Revenue"
-      cs.rows = [ CalculationRow.new(:key => "Operating Revenues (OR)",   :vals => [@orev.total] ),
-                  CalculationRow.new(:key => "Cost of Goods Sold (COGS)", :vals => [@cogs.total] ) ]
+      cs.rows = [ CalculationRow.new(:key => "Operating Revenues (OR)",   :vals => [@operating_revenues.total] ),
+                  CalculationRow.new(:key => "Cost of Goods Sold (COGS)", :vals => [@cost_of_revenues.total] ) ]
       return cs
     end
 
-    def operating_expenses
-      @oe
-    end
-
     def income_from_sales_before_tax
       cs = FinModeling::CalculationSummary.new
       cs.title = "Operating Income from sales, before tax (OISBT)"
       cs.rows = [ CalculationRow.new(:key => "Gross Margin (GM)", :vals => [@gm] ),
-                  CalculationRow.new(:key => "Operating Expense (OE)", :vals => [@oe.total] ) ]
+                  CalculationRow.new(:key => "Operating Expense (OE)", :vals => [@operating_expenses.total] ) ]
       return cs
     end
 
@@ -204,7 +151,7 @@ module FinModeling
       return annualize_rate(prev, rate)
     end
 
-    def re_oi(prev_bal_sheet, expected_rate_of_return=0.10)
+    def re_oi(prev_bal_sheet, expected_rate_of_return)
       e_ror = deannualize_rate(prev_bal_sheet, expected_rate_of_return)
       return (operating_income_after_tax.total - (e_ror * prev_bal_sheet.net_operating_assets.total))
     end
@@ -242,7 +189,7 @@ module FinModeling
       return analysis
     end
 
-    def analysis(re_bs, prev_re_is, prev_re_bs)
+    def analysis(re_bs, prev_re_is, prev_re_bs, expected_rate_of_return)
       analysis = CalculationSummary.new
       analysis.title = ""
       analysis.rows = []
@@ -253,11 +200,11 @@ module FinModeling
         analysis.header_row = CalculationHeader.new(:key => "",   :vals => [re_bs.period.to_pretty_s])
       end
   
-      analysis.rows << CalculationRow.new(:key => "Revenue ($MM)",   :vals => [operating_revenues.total.to_nearest_million])
+      analysis.rows << CalculationRow.new(:key => "Revenue ($MM)",   :vals => [@operating_revenues.total.to_nearest_million])
       if Config.income_detail_enabled?
-        analysis.rows << CalculationRow.new(:key => "COGS ($MM)",    :vals => [@cogs.total.to_nearest_million])
+        analysis.rows << CalculationRow.new(:key => "COGS ($MM)",    :vals => [@cost_of_revenues.total.to_nearest_million])
         analysis.rows << CalculationRow.new(:key => "GM ($MM)",      :vals => [@gm.to_nearest_million])
-        analysis.rows << CalculationRow.new(:key => "OE ($MM)",      :vals => [@oe.total.to_nearest_million])
+        analysis.rows << CalculationRow.new(:key => "OE ($MM)",      :vals => [@operating_expenses.total.to_nearest_million])
         analysis.rows << CalculationRow.new(:key => "OISBT ($MM)",   :vals => [income_from_sales_before_tax.total.to_nearest_million])
       end
       analysis.rows << CalculationRow.new(:key => "Core OI ($MM)",   :vals => [income_from_sales_after_tax.total.to_nearest_million])
@@ -276,7 +223,7 @@ module FinModeling
         analysis.rows << CalculationRow.new(:key => "Revenue Growth",:vals => [revenue_growth(prev_re_is)])
         analysis.rows << CalculationRow.new(:key => "Core OI Growth",:vals => [core_oi_growth(prev_re_is)])
         analysis.rows << CalculationRow.new(:key => "OI Growth",     :vals => [oi_growth(     prev_re_is)])
-        analysis.rows << CalculationRow.new(:key => "ReOI ($MM)",    :vals => [re_oi(         prev_re_bs).to_nearest_million])
+        analysis.rows << CalculationRow.new(:key => "ReOI ($MM)",    :vals => [re_oi(prev_re_bs, expected_rate_of_return).to_nearest_million])
       else
         analysis.rows << CalculationRow.new(:key => "Sales / NOA",   :vals => [nil])
         analysis.rows << CalculationRow.new(:key => "FI / NFA",      :vals => [nil])
@@ -290,10 +237,9 @@ module FinModeling
     end
 
     def self.forecast_next(period, policy, last_re_bs, last_re_is)
-      operating_revenues = last_re_is.operating_revenues.total * (1.0 + Rate.new(policy.revenue_growth).yearly_to_quarterly)
-      income_from_sales_after_tax = operating_revenues * policy.sales_pm
-      net_financing_income = last_re_bs.net_financial_assets.total * Ratio.new(policy.fi_over_nfa).yearly_to_quarterly
-
+      operating_revenues = policy.revenue_on(period.value["end_date"])
+      income_from_sales_after_tax = operating_revenues * policy.sales_pm_on(period.value["end_date"])
+      net_financing_income = last_re_bs.net_financial_assets.total * Ratio.new(policy.fi_over_nfa_on(period.value["end_date"])).yearly_to_quarterly
       comprehensive_income = income_from_sales_after_tax + net_financing_income
 
       ForecastedReformulatedIncomeStatement.new(period, operating_revenues, 
@@ -325,112 +271,4 @@ module FinModeling
 
   end
 
-  class ForecastedReformulatedIncomeStatement < ReformulatedIncomeStatement
-    def initialize(period, operating_revenues, income_from_sales_after_tax, net_financing_income, comprehensive_income)
-      @period = period
-      @orev = operating_revenues
-      @income_from_sales_after_tax = income_from_sales_after_tax
-      @net_financing_income = net_financing_income
-      @comprehensive_income = comprehensive_income
-    end
-
-    def -(ris2)
-      raise RuntimeError.new("not implmeneted")
-    end
-
-    def operating_revenues
-      cs = FinModeling::CalculationSummary.new
-      cs.title = "Operating Revenues"
-      cs.rows = [ CalculationRow.new(:key => "Operating Revenues (OR)", :vals => [@orev] ) ]
-      return cs
-    end
-
-    def cost_of_revenues
-      nil
-    end
-
-    def gross_revenue
-      nil
-    end
-
-    def operating_expenses
-      nil
-    end
-
-    def income_from_sales_before_tax
-      nil
-    end
-
-    def income_from_sales_after_tax
-      cs = FinModeling::CalculationSummary.new
-      cs.title = "Operating Income from sales, after tax (OISAT)"
-      cs.rows = [ CalculationRow.new(:key => "Operating income from sales (after tax)", :vals => [@income_from_sales_after_tax] ) ]
-      return cs
-    end
-
-    def operating_income_after_tax
-      income_from_sales_after_tax # this simplified version assumes no non-sales operating income
-    end
-
-    def net_financing_income
-      cs = FinModeling::CalculationSummary.new
-      cs.title = "Net financing income, after tax (NFI)"
-      cs.rows = [ CalculationRow.new(:key => "Net financing income", :vals => [@net_financing_income] ) ]
-      return cs
-    end
-
-    def comprehensive_income
-      cs = FinModeling::CalculationSummary.new
-      cs.title = "Comprehensive Income (CI)"
-      cs.rows = [ CalculationRow.new(:key => "Comprehensive income", :vals => [@comprehensive_income] ) ]
-      return cs
-    end
-
-    def analysis(re_bs, prev_re_is, prev_re_bs)
-      analysis = CalculationSummary.new
-      analysis.title = ""
-      analysis.rows = []
-  
-      if re_bs.nil?
-        analysis.header_row = CalculationHeader.new(:key => "",   :vals => ["Unknown..."])
-      else
-        analysis.header_row = CalculationHeader.new(:key => "",   :vals => [re_bs.period.to_pretty_s + "E"])
-      end
-  
-      analysis.rows << CalculationRow.new(:key => "Revenue ($MM)",   :vals => [operating_revenues.total.to_nearest_million])
-      if Config.income_detail_enabled?
-        analysis.rows << CalculationRow.new(:key => "COGS ($MM)",    :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "GM ($MM)",      :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "OE ($MM)",      :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "OISBT ($MM)",   :vals => [nil])
-      end
-      analysis.rows << CalculationRow.new(:key => "Core OI ($MM)",   :vals => [income_from_sales_after_tax.total.to_nearest_million])
-      analysis.rows << CalculationRow.new(:key => "OI ($MM)",        :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "FI ($MM)",        :vals => [net_financing_income.total.to_nearest_million])
-      analysis.rows << CalculationRow.new(:key => "NI ($MM)",        :vals => [comprehensive_income.total.to_nearest_million])
-      analysis.rows << CalculationRow.new(:key => "Gross Margin",    :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "Sales PM",        :vals => [sales_profit_margin])
-      analysis.rows << CalculationRow.new(:key => "Operating PM",    :vals => [nil])
-      analysis.rows << CalculationRow.new(:key => "FI / Sales",      :vals => [fi_over_sales])
-      analysis.rows << CalculationRow.new(:key => "NI / Sales",      :vals => [ni_over_sales])
-
-      if !prev_re_bs.nil? && !prev_re_is.nil?
-        analysis.rows << CalculationRow.new(:key => "Sales / NOA",   :vals => [sales_over_noa(prev_re_bs)])
-        analysis.rows << CalculationRow.new(:key => "FI / NFA",      :vals => [fi_over_nfa(   prev_re_bs)])
-        analysis.rows << CalculationRow.new(:key => "Revenue Growth",:vals => [revenue_growth(prev_re_is)])
-        analysis.rows << CalculationRow.new(:key => "Core OI Growth",:vals => [core_oi_growth(prev_re_is)])
-        analysis.rows << CalculationRow.new(:key => "OI Growth",     :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "ReOI ($MM)",    :vals => [re_oi(         prev_re_bs).to_nearest_million])
-      else
-        analysis.rows << CalculationRow.new(:key => "Sales / NOA",   :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "FI / NFA",      :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "Revenue Growth",:vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "Core OI Growth",:vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "OI Growth",     :vals => [nil])
-        analysis.rows << CalculationRow.new(:key => "ReOI ($MM)",    :vals => [nil])
-      end
-  
-      return analysis
-    end
-  end
 end

data/lib/finmodeling/reformulated_shareholder_equity_statement.rb

@@ -0,0 +1,50 @@
+module FinModeling
+  class ReformulatedShareholderEquityStatement
+    attr_accessor :period
+
+    def initialize(period, equity_change_summary)
+      @period                = period
+
+      @share_issue   = equity_change_summary.filter_by_type(:share_issue  )
+      @minority_int  = equity_change_summary.filter_by_type(:minority_int )
+      @share_repurch = equity_change_summary.filter_by_type(:share_repurch)
+      @common_div    = equity_change_summary.filter_by_type(:common_div   )
+      @net_income    = equity_change_summary.filter_by_type(:net_income   )
+      @oci           = equity_change_summary.filter_by_type(:oci          )
+      @preferred_div = equity_change_summary.filter_by_type(:preferred_div)
+    end
+
+    def transactions_with_shareholders
+      cs = FinModeling::CalculationSummary.new
+      cs.title = "Transactions with Shareholders"
+      cs.rows = [ CalculationRow.new(:key => "Share Issues",      :vals => [@share_issue  .total] ),
+                  CalculationRow.new(:key => "Minority Interest", :vals => [@minority_int .total] ),
+                  CalculationRow.new(:key => "Share Repurchases", :vals => [@share_repurch.total] ),
+                  CalculationRow.new(:key => "Common Dividends",  :vals => [@common_div   .total] ) ]
+      return cs
+    end
+
+    def comprehensive_income
+      cs = FinModeling::CalculationSummary.new
+      cs.title = "Comprehensive Income"
+      cs.rows = [ CalculationRow.new(:key => "Net Income",                 :vals => [@net_income   .total] ),
+                  CalculationRow.new(:key => "Other Comprehensive Income", :vals => [@oci          .total] ),
+                  CalculationRow.new(:key => "Preferred Dividends",        :vals => [@preferred_div.total] ) ]
+      return cs
+    end
+ 
+    def analysis
+      analysis = CalculationSummary.new
+  
+      analysis.title = ""
+      analysis.header_row = CalculationHeader.new(:key => "", :vals => [@period.value["end_date"].to_s])
+  
+      analysis.rows = []
+      analysis.rows << CalculationRow.new(:key => "Tx w Shareholders ($MM)", :vals => [transactions_with_shareholders.total.to_nearest_million])
+      analysis.rows << CalculationRow.new(:key => "CI ($MM)",                :vals => [comprehensive_income.total.to_nearest_million])
+ 
+      return analysis
+    end
+
+  end
+end

data/lib/finmodeling/reoi_valuation.rb

@@ -0,0 +1,104 @@
+module FinModeling
+  class ReOIValuation
+    def initialize(filings, forecasts, cost_of_capital, num_shares)
+      @filings, @forecasts, @cost_of_capital, @num_shares = [filings, forecasts, cost_of_capital, num_shares]
+      @discount_rate  = FinModeling::DiscountRate.new(@cost_of_capital.value + 1.0)
+    end
+
+    def summary
+      s = CalculationSummary.new
+      s.title = "ReOI Valuation"
+      s.totals_row_enabled = false
+
+      s.header_row = CalculationHeader.new(:key => "", :vals => periods.map{ |x| x.to_pretty_s + ((x.value > Date.today) ? "E" : "") })
+
+      s.rows = [ ]
+
+      s.rows << CalculationRow.new(:key => "ReOI ($MM)", :vals => reoi_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "PV(ReOI) ($MM)", :vals => pv_reoi_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "CV ($MM)", :vals => cv_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "PV(CV) ($MM)", :vals => pv_cv_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "Book Value of Common Equity ($MM)", :vals => bv_cse_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "Enterprise Value ($MM)", :vals => ev_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "NFA ($MM)", :vals => bv_nfa_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "Value of Common Equity ($MM)", :vals => cse_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "# Shares (MM)", :vals => num_shares_vals.map{ |x| x ? x.to_nearest_million : nil })
+      s.rows << CalculationRow.new(:key => "Value / Share ($)", :vals => val_per_shares_vals.map{ |x| x ? x.to_nearest_dollar(num_decimals=2) : nil })
+
+      return s
+    end
+
+    def periods
+      @periods ||= [ @filings.re_bs_arr.last.period ] +
+                   @forecasts.reformulated_balance_sheets.map{ |x| x.period }
+    end
+
+  private
+
+    def reoi_vals
+      prev_re_bses = [@filings.re_bs_arr.last] + @forecasts.reformulated_balance_sheets[0..-2]
+      re_ises =  @forecasts.reformulated_income_statements
+      re_ois = [nil] + re_ises.zip(prev_re_bses).map{ |pair| pair[0].re_oi(pair[1], @cost_of_capital.value) }
+    end
+
+    def pv_reoi_vals
+      reoi_vals[0..-2].each_with_index.map do |reoi, idx|
+        days_from_now = periods[idx].value - Date.today
+        d = @discount_rate.annualize(from_days=365, to_days=days_from_now)
+        reoi ? (reoi / d) : nil
+      end + [nil]
+    end
+
+    def cv_vals
+      vals = [nil]*periods.length
+      d = @cost_of_capital.annualize(from_days=365, @forecasts.reformulated_income_statements.last.period.days)
+      vals[-2] = reoi_vals.last / d
+      vals
+    end
+
+    def pv_cv_vals
+      cv_vals[0..-2].each_with_index.map do |cv, idx|
+        days_from_now = periods[idx].value - Date.today
+        d = @discount_rate.annualize(from_days=365, to_days=days_from_now)
+        cv ? (cv / d) : nil
+      end + [nil]
+    end
+
+    def bv_cse_vals
+      vals = [nil]*periods.length
+      vals[0] = @filings.re_bs_arr.last.common_shareholders_equity.total
+      vals
+    end
+
+    def ev_vals
+      vals = [nil]*periods.length
+      vals[0] = (pv_reoi_vals[1..-2] + pv_cv_vals[-2..-2] + bv_cse_vals[0..0]).inject(:+)
+      vals
+    end
+
+    def bv_nfa_vals
+      vals = [nil]*periods.length
+      vals[0] = @filings.re_bs_arr.last.net_financial_assets.total
+      vals
+    end
+
+    def cse_vals
+      vals = [nil]*periods.length
+      vals[0] = ev_vals[0] + bv_nfa_vals[0]
+      vals
+    end
+
+    def num_shares_vals
+      vals = [nil]*periods.length
+      vals[0] = @num_shares
+      vals
+    end
+
+    def val_per_shares_vals
+      vals = [nil]*periods.length
+      vals[0] = cse_vals[0] / @num_shares
+      vals
+    end
+
+  end
+end

data/lib/finmodeling/shareholder_equity_statement_calculation.rb

@@ -0,0 +1,34 @@
+module FinModeling
+  class ShareholderEquityStatementCalculation < CompanyFilingCalculation
+    #include CanChooseSuccessivePeriods
+
+    EC_GOAL        = "change in shareholder equity"
+    EC_LABELS      = [ /^stockholders equity period increase decrease$/ ]
+    EC_ANTI_LABELS = [ ]
+    EC_IDS         = [ /^(|Locator_|loc_)(|us-gaap_)StockholdersEquityPeriodIncreaseDecrease[_a-z0-9]+/ ]
+    def equity_change_calculation
+      begin
+        @ec ||= EquityChangeCalculation.new(find_calculation_arc(EC_GOAL, EC_LABELS, EC_ANTI_LABELS, EC_IDS))
+      rescue FinModeling::InvalidFilingError => e
+        pre_msg = "calculation tree:\n" + self.calculation.sprint_tree
+        raise e, pre_msg+e.message, e.backtrace
+      end
+    end
+
+    def is_valid?
+      return true
+    end
+
+    def reformulated(period)
+      return ReformulatedShareholderEquityStatement.new(period, 
+                                                        equity_change_calculation.summary(:period=>period))
+    end
+
+    def write_constructor(file, item_name)
+      item_calc_name = item_name + "_calc"
+      @calculation.write_constructor(file, item_calc_name)
+      file.puts "#{item_name} = FinModeling::ShareholderEquityStatementCalculation.new(#{item_calc_name})"
+    end
+
+  end
+end

data/lib/finmodeling/string_helpers.rb

@@ -20,7 +20,24 @@ class String
     self.gsub(r, '\1')
   end
 
-  def matches_regexes?(regexes)
+  def matches_any_regex?(regexes)
     return regexes.inject(false){ |matches, regex| matches or regex =~ self }
   end
+
+  def split_into_lines_shorter_than(max_line_width)
+    lines = []
+    cur_line = []
+  
+    split(' ').each do |word|
+      if (cur_line + [word]).join(' ').length > max_line_width
+        lines << cur_line.join(' ')
+        cur_line = []
+      end
+  
+      cur_line << word
+    end
+  
+    lines << cur_line.join(' ') if !cur_line.empty?
+    lines
+  end
 end

data/lib/finmodeling/time_series_estimator.rb

@@ -0,0 +1,25 @@
+module FinModeling
+  class TimeSeriesEstimator
+    attr_reader :a, :b
+
+    def initialize(a, b)
+      @a, @b = a, b
+    end
+
+    def estimate_on(date)
+      x = (date - Date.today)
+      a + (b*x)
+    end
+
+    def self.from_time_series(dates, ys)
+      xs = dates.map{ |date| date - Date.today }
+
+      simple_regression = Statsample::Regression.simple(xs.to_scale, ys.to_scale)
+      TimeSeriesEstimator.new(simple_regression.a, simple_regression.b)
+    end
+
+    def self.from_const(y)
+      TimeSeriesEstimator.new(a=y, b=0.0)
+    end
+  end
+end