Consolidation Model

Notes
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© Corporate Finance Institute®. All rights reserved.
Consolidation Model

Summary Dashboard
Monthly Corporate Earnings (CAD million)
$2.50 $0.90
$0.80
$2.00 $0.70
$0.60
$1.50 $0.50
$1.00 $0.40
$0.30
$0.50 $0.20
$0.10
$- $-
ry ry ch ri l ay ne ly st
be
r er be
r
be
r
nu
a ua ar Ap M Ju Ju
ug
u
to
b
Ja br M A em Oc ve
m
ce
m
Fe pt
Se No De

Revenue Tota l Cost Profit

Yearly Project Earnings (CAD million)

$9.00 $3.50
$8.00 $3.00
$7.00
$2.50
$6.00
$5.00 $2.00
$4.00 $1.50
$3.00
$1.00
$2.00
$1.00 $0.50
$- $-
AC01 AC02 AC03 AC04 AC05
Annual Revenue Tota l Cost Profit

This file is for educational purposes only. E&OE

Corporate Finance Institute®

https://corporatefinanceinstitute.com/
Monthly Corporate Earnings
CAD million January February March April May June July August
Revenue $ 2.21 $ 2.09 $ 2.06 $ 2.22 $ 2.15 $ 2.21 $ 2.11 $ 2.27
Total Cost $ 1.50 $ 1.47 $ 1.42 $ 1.44 $ 1.46 $ 1.49 $ 1.47 $ 1.47
Profit $ 0.71 $ 0.62 $ 0.64 $ 0.78 $ 0.70 $ 0.72 $ 0.64 $ 0.80

Yearly Project Earnings

CAD million AC01 AC02 AC03 AC04 AC05 Total
Annual Revenue $ 4.79 $ 5.38 $ 3.63 $ 4.20 $ 8.10 $ 26.11 Yearly Project
Total Cost $ 3.33 $ 3.71 $ 2.61 $ 2.99 $ 4.95 $ 17.59 40.0%
Profit $ 1.46 $ 1.67 $ 1.02 $ 1.22 $ 3.15 $ 8.52

36.0%
Yearly Project Profit Margin
CAD million AC01 AC02 AC03 AC04 AC05 Total
32.0%
Profit Margin $ 1.46 $ 1.67 $ 1.02 $ 1.22 $ 3.15 $ 8.52
Profit Margin% 30.5% 31.1% 28.1% 28.9% 38.9% 32.6%
28.0%
Adjusted Margin% 30.7% 31.4% 28.4% 28.9% 39.3% 31.3%

Employee Productivity Rate 24.0%

In thousands AC01 AC02 AC03 AC04 AC05 Total

Total Work Hours 849 902 664 843 1,457 4,715 20.0%
AC01 AC02 A
Billable Hours 766 802 530 766 1,357 4,220
Profit Margi n%
Non-Billble Hours 83 100 135 78 99 495
Productivity Rate 90.2% 88.9% 79.7% 90.8% 93.2% 89.5%
 September October November December FY
$ 2.21 $ 2.24 $ 2.09 $ 2.24 $ 26.11
$ 1.46 $ 1.46 $ 1.45 $ 1.50 $ 17.59
$ 0.75 $ 0.78 $ 0.64 $ 0.74 $ 8.52

Yearly Project Profit Margin

0%

0%

0%

0%

0%

0%
AC01 AC02 AC03 AC04 AC05
Profit Margi n% Adjusted Margi n%
© Corporate Finance Institute®. All rights reserved.

Consolidation Model
Project AC01
CAD$ January February March April May
Revenue $ 391,381 $ 368,043 $ 376,297 $ 424,556 $ 442,703

Total Cost $ 293,625 $ 278,368 $ 257,899 $ 275,599 $ 273,188

Project expenses $ 113,125 $ 109,672 $ 94,435 $ 104,718 $ 87,121
Salaries and benefits $ 62,997 $ 66,174 $ 68,787 $ 69,244 $ 68,246
Equipment expense $ 11,742 $ 14,209 $ 13,607 $ 11,864 $ 12,433
Overhead expenses $ 34,615 $ 21,215 $ 13,025 $ 14,076 $ 26,306
Social expenses $ 1,192 $ 1,693 $ 1,537 $ 1,563 $ 1,458
Interest expense $ 3,352 $ 3,989 $ 3,806 $ 3,630 $ 4,990
Miscellanous expenses $ 7,895 $ 6,210 $ 6,257 $ 6,821 $ 6,229
Tax (15%) $ 58,707 $ 55,206 $ 56,445 $ 63,683 $ 66,405

Profit Margin $ 97,756 $ 89,675 $ 118,398 $ 148,957 $ 169,515

Profit Margin% 24.98% 24.37% 31.46% 35.09% 38.29%
Adjustment for inflation 0.00% 0.50% 1.50% 2.00% 1.50%
Adjusted Margin% 24.98% 24.49% 31.94% 35.79% 38.87%

Total Work Hours 69,117 70,366 73,329 71,176 71,527

Billable Hours 62,110 63,522 66,224 64,064 64,495
Non-Billble Hours 7,007 6,844 7,105 7,112 7,032
Productivity Rate 89.86% 90.27% 90.31% 90.01% 90.17%
Project AC01
June July August September October November December
$ 390,710 $ 351,411 $ 447,309 $ 395,764 $ 420,159 $ 358,216 $ 421,183

$ 282,661 $ 277,260 $ 301,195 $ 274,108 $ 271,900 $ 268,337 $ 275,500

$ 103,872 $ 113,652 $ 116,874 $ 105,600 $ 102,499 $ 98,458 $ 105,816
$ 60,268 $ 68,279 $ 60,677 $ 66,603 $ 62,499 $ 63,132 $ 68,180
$ 12,438 $ 12,334 $ 12,818 $ 13,357 $ 11,998 $ 12,755 $ 11,888
$ 33,301 $ 16,543 $ 32,831 $ 17,152 $ 19,690 $ 27,888 $ 13,928
$ 1,638 $ 1,201 $ 1,547 $ 1,783 $ 1,110 $ 1,858 $ 1,334
$ 4,978 $ 4,885 $ 3,263 $ 4,198 $ 3,415 $ 3,717 $ 3,869
$ 7,559 $ 7,654 $ 6,089 $ 6,050 $ 7,665 $ 6,797 $ 7,308
$ 58,607 $ 52,712 $ 67,096 $ 59,365 $ 63,024 $ 53,732 $ 63,177

$ 108,050 $ 74,151 $ 146,114 $ 121,656 $ 148,259 $ 89,879 $ 145,683

27.65% 21.10% 32.67% 30.74% 35.29% 25.09% 34.59%
1.00% -0.50% -1.00% 1.00% 1.00% 1.50% 0.50%
27.93% 21.00% 32.34% 31.05% 35.64% 25.47% 34.76%

69,106 71,528 69,703 68,413 74,065 72,515 67,773

62,563 64,399 62,954 61,490 67,215 65,458 61,110
6,543 7,129 6,749 6,923 6,850 7,057 6,663
90.53% 90.03% 90.32% 89.88% 90.75% 90.27% 90.17%
 FY
$ 4,787,732

$ 3,329,641
$ 1,255,842
$ 785,086
$ 151,443
$ 270,570
$ 17,914
$ 48,092
$ 82,534
$ 718,160

$ 1,458,091
30.45%
0.75%
30.68%

848,618
765,604
83,014
90.22%
© Corporate Finance Institute®. All rights reserved.

Consolidation Model
Project AC02
CAD$ January February March April May
Revenue $ 464,925 $ 426,299 $ 416,981 $ 470,009 $ 446,025

Total Cost $ 322,611 $ 310,903 $ 290,341 $ 302,818 $ 300,621

Project expenses $ 133,568 $ 109,547 $ 103,157 $ 122,379 $ 103,666
Salaries and benefits $ 67,914 $ 71,841 $ 69,761 $ 66,791 $ 67,532
Equipment expense $ 14,328 $ 17,808 $ 17,026 $ 15,033 $ 16,041
Overhead expenses $ 23,725 $ 36,092 $ 26,133 $ 15,597 $ 33,164
Social expenses $ 1,594 $ 1,353 $ 1,390 $ 1,774 $ 1,538
Interest expense $ 4,178 $ 3,629 $ 3,772 $ 3,524 $ 3,983
Miscellanous expenses $ 7,565 $ 6,688 $ 6,555 $ 7,219 $ 7,793
Tax (15%) $ 69,739 $ 63,945 $ 62,547 $ 70,501 $ 66,904

Profit Margin $ 142,314 $ 115,396 $ 126,640 $ 167,191 $ 145,404

Profit Margin% 30.61% 27.07% 30.37% 35.57% 32.60%
Adjustment for inflation -1.00% 1.50% 2.00% 1.00% 0.50%
Adjusted Margin% 30.30% 27.48% 30.98% 35.93% 32.76%

Total Work Hours 73,333 75,205 73,398 73,651 77,854

Billable Hours 65,245 66,766 65,118 65,442 69,378
Non-Billble Hours 8,088 8,439 8,280 8,209 8,476
Productivity Rate 88.97% 88.78% 88.72% 88.85% 89.11%
Project AC02
June July August September October November December
$ 421,170 $ 427,452 $ 495,101 $ 474,762 $ 451,667 $ 457,448 $ 429,409

$ 336,068 $ 289,927 $ 299,670 $ 317,139 $ 289,547 $ 329,831 $ 320,242

$ 147,316 $ 100,535 $ 107,507 $ 116,565 $ 106,277 $ 136,682 $ 135,861
$ 68,184 $ 72,356 $ 71,112 $ 69,791 $ 70,269 $ 66,853 $ 65,968
$ 17,449 $ 16,453 $ 15,261 $ 17,847 $ 13,957 $ 13,926 $ 17,059
$ 26,694 $ 23,707 $ 19,271 $ 29,675 $ 18,579 $ 30,149 $ 23,882
$ 1,369 $ 1,431 $ 1,563 $ 1,622 $ 1,464 $ 1,443 $ 1,624
$ 3,999 $ 3,969 $ 3,672 $ 3,799 $ 4,371 $ 4,303 $ 3,687
$ 7,881 $ 7,358 $ 7,019 $ 6,626 $ 6,880 $ 7,858 $ 7,750
$ 63,176 $ 64,118 $ 74,265 $ 71,214 $ 67,750 $ 68,617 $ 64,411

$ 85,103 $ 137,525 $ 195,431 $ 157,623 $ 162,120 $ 127,617 $ 109,167

20.21% 32.17% 39.47% 33.20% 35.89% 27.90% 25.42%
0.00% 1.50% 1.00% 1.00% 0.50% 2.00% 1.50%
20.21% 32.66% 39.87% 33.53% 36.07% 28.46% 25.80%

77,505 74,692 74,248 74,633 76,813 74,051 76,699

69,173 66,394 65,571 66,550 68,175 65,514 68,608
8,332 8,298 8,677 8,083 8,638 8,537 8,091
89.25% 88.89% 88.31% 89.17% 88.75% 88.47% 89.45%
 FY
$ 5,381,248

$ 3,709,718
$ 1,423,060
$ 828,372
$ 192,188
$ 306,668
$ 18,165
$ 46,886
$ 87,192
$ 807,187

$ 1,671,530
31.06%
0.96%
31.36%

902,082
801,934
100,148
88.90%
© Corporate Finance Institute®. All rights reserved.

Consolidation Model
Project AC03
CAD$ January February March April May
Revenue $ 299,506 $ 297,890 $ 313,430 $ 302,427 $ 304,176

Total Cost $ 216,571 $ 212,600 $ 229,595 $ 207,447 $ 234,745

Project expenses $ 79,421 $ 82,315 $ 85,607 $ 70,178 $ 97,321
Salaries and benefits $ 58,385 $ 55,591 $ 62,682 $ 63,895 $ 57,978
Equipment expense $ 8,895 $ 9,706 $ 8,615 $ 7,811 $ 8,380
Overhead expenses $ 16,023 $ 11,281 $ 16,567 $ 11,991 $ 16,723
Social expenses $ 911 $ 1,167 $ 1,253 $ 824 $ 980
Interest expense $ 3,161 $ 3,311 $ 2,534 $ 2,974 $ 2,511
Miscellanous expenses $ 4,849 $ 4,545 $ 5,322 $ 4,410 $ 5,226
Tax (15%) $ 44,926 $ 44,684 $ 47,015 $ 45,364 $ 45,626

Profit Margin $ 82,935 $ 85,291 $ 83,836 $ 94,980 $ 69,431

Profit Margin% 27.69% 28.63% 26.75% 31.41% 22.83%
Adjustment for inflation 1.00% 2.00% 2.00% 1.50% 0.50%
Adjusted Margin% 27.97% 29.20% 27.28% 31.88% 22.94%

Total Work Hours 54,506 58,890 58,212 56,532 59,749

Billable Hours 42,594 47,334 47,258 46,298 48,261
Non-Billble Hours 11,912 11,556 10,954 10,234 11,488
Productivity Rate 78.15% 80.38% 81.18% 81.90% 80.77%
Project AC03
June July August September October November December
$ 303,692 $ 309,592 $ 292,196 $ 306,966 $ 307,254 $ 291,356 $ 305,797

$ 215,399 $ 234,600 $ 209,066 $ 217,090 $ 218,184 $ 204,884 $ 214,110

$ 80,759 $ 97,750 $ 73,871 $ 80,071 $ 78,475 $ 70,804 $ 80,713
$ 59,317 $ 61,166 $ 59,623 $ 55,458 $ 60,999 $ 63,254 $ 60,243
$ 7,670 $ 8,990 $ 8,806 $ 7,361 $ 8,378 $ 8,509 $ 7,596
$ 13,079 $ 10,786 $ 12,952 $ 18,591 $ 15,181 $ 10,025 $ 11,884
$ 858 $ 1,500 $ 1,291 $ 852 $ 1,413 $ 1,121 $ 840
$ 3,441 $ 3,155 $ 3,484 $ 3,465 $ 2,939 $ 2,905 $ 2,644
$ 4,721 $ 4,814 $ 5,210 $ 5,247 $ 4,711 $ 4,563 $ 4,320
$ 45,554 $ 46,439 $ 43,829 $ 46,045 $ 46,088 $ 43,703 $ 45,870

$ 88,293 $ 74,992 $ 83,130 $ 89,876 $ 89,070 $ 86,472 $ 91,687

29.07% 24.22% 28.45% 29.28% 28.99% 29.68% 29.98%
0.00% 1.00% 2.00% 1.50% 0.50% 1.50% 2.00%
29.07% 24.47% 29.02% 29.72% 29.13% 30.12% 30.58%

52,768 51,623 56,333 50,607 52,672 58,597 54,002

41,622 40,749 44,437 40,023 41,754 47,012 42,227
11,146 10,874 11,896 10,584 10,918 11,585 11,775
78.88% 78.94% 78.88% 79.09% 79.27% 80.23% 78.20%
 FY
$ 3,634,282

$ 2,614,290
$ 977,285
$ 718,591
$ 100,717
$ 165,083
$ 13,010
$ 36,524
$ 57,938
$ 545,142

$ 1,019,992
28.07%
1.29%
28.43%

664,491
529,569
134,922
79.70%
© Corporate Finance Institute®. All rights reserved.

Consolidation Model
Project AC04
CAD$ January February March April May
Revenue $ 357,433 $ 330,303 $ 345,452 $ 347,982 $ 353,660

Total Cost $ 253,630 $ 241,495 $ 241,474 $ 251,004 $ 243,721

Project expenses $ 96,792 $ 93,220 $ 81,935 $ 87,615 $ 84,074
Salaries and benefits $ 58,560 $ 56,273 $ 57,613 $ 63,082 $ 59,863
Equipment expense $ 11,850 $ 10,466 $ 10,586 $ 9,994 $ 12,593
Overhead expenses $ 20,779 $ 20,470 $ 27,058 $ 25,218 $ 21,914
Social expenses $ 1,310 $ 1,001 $ 1,267 $ 1,132 $ 1,387
Interest expense $ 4,262 $ 4,344 $ 4,174 $ 4,277 $ 4,156
Miscellanous expenses $ 6,462 $ 6,176 $ 7,023 $ 7,489 $ 6,685
Tax (15%) $ 53,615 $ 49,545 $ 51,818 $ 52,197 $ 53,049

Profit Margin $ 103,803 $ 88,808 $ 103,978 $ 96,978 $ 109,939

Profit Margin% 29.04% 26.89% 30.10% 27.87% 31.09%
Adjustment for inflation -1.50% -1.00% 0.00% 1.00% 1.50%
Adjusted Margin% 28.61% 26.62% 30.10% 28.15% 31.55%

Total Work Hours 68,692 70,094 72,439 70,475 70,892

Billable Hours 62,110 63,522 66,224 64,064 64,495
Non-Billble Hours 6,582 6,572 6,215 6,411 6,397
Productivity Rate 90.42% 90.62% 91.42% 90.90% 90.98%
Project AC04
June July August September October November December
$ 366,949 $ 366,785 $ 327,271 $ 367,518 $ 337,995 $ 341,655 $ 360,085

$ 250,169 $ 253,862 $ 244,719 $ 253,667 $ 256,365 $ 238,598 $ 258,772

$ 90,343 $ 91,224 $ 87,982 $ 92,069 $ 96,811 $ 87,163 $ 98,288
$ 56,167 $ 57,649 $ 59,068 $ 62,539 $ 57,645 $ 55,046 $ 58,629
$ 9,153 $ 12,295 $ 12,105 $ 9,406 $ 12,746 $ 11,999 $ 10,508
$ 26,491 $ 25,987 $ 23,701 $ 23,410 $ 26,533 $ 20,775 $ 25,673
$ 1,299 $ 1,086 $ 1,190 $ 1,303 $ 1,297 $ 1,304 $ 1,143
$ 4,452 $ 4,328 $ 4,496 $ 3,623 $ 3,728 $ 4,011 $ 3,758
$ 7,222 $ 6,275 $ 7,086 $ 6,189 $ 6,906 $ 7,052 $ 6,760
$ 55,042 $ 55,018 $ 49,091 $ 55,128 $ 50,699 $ 51,248 $ 54,013

$ 116,780 $ 112,923 $ 82,552 $ 113,851 $ 81,630 $ 103,057 $ 101,313

31.82% 30.79% 25.22% 30.98% 24.15% 30.16% 28.14%
0.00% -0.50% -1.00% -1.00% -0.50% 0.00% 0.50%
31.82% 30.63% 24.97% 30.67% 24.03% 30.16% 28.28%

68,962 70,631 69,351 68,045 73,923 72,043 67,687

62,563 64,399 62,954 61,490 67,215 65,458 61,110
6,399 6,232 6,397 6,555 6,708 6,585 6,577
90.72% 91.18% 90.78% 90.37% 90.93% 90.86% 90.28%
 FY
$ 4,203,088

$ 2,987,476
$ 1,087,516
$ 702,134
$ 133,701
$ 288,009
$ 14,719
$ 49,609
$ 81,325
$ 630,463

$ 1,215,612
28.92%
-0.21%
28.86%

843,234
765,604
77,630
90.79%
© Corporate Finance Institute®. All rights reserved.

Consolidation Model
Project AC05
CAD$ January February March April May
Revenue $ 698,233 $ 667,957 $ 606,298 $ 675,396 $ 606,969

Total Cost $ 416,664 $ 424,258 $ 397,515 $ 406,451 $ 405,918

Project expenses $ 179,433 $ 188,338 $ 170,883 $ 171,828 $ 179,579
Salaries and benefits $ 72,867 $ 72,989 $ 74,819 $ 71,431 $ 71,809
Equipment expense $ 18,696 $ 19,972 $ 19,194 $ 15,696 $ 16,933
Overhead expenses $ 25,453 $ 28,037 $ 27,712 $ 30,618 $ 31,412
Social expenses $ 2,839 $ 3,066 $ 2,166 $ 2,574 $ 2,996
Interest expense $ 5,212 $ 4,252 $ 4,430 $ 5,141 $ 4,996
Miscellanous expenses $ 7,429 $ 7,410 $ 7,366 $ 7,854 $ 7,148
Tax (15%) $ 104,735 $ 100,194 $ 90,945 $ 101,309 $ 91,045

Profit Margin $ 281,569 $ 243,699 $ 208,783 $ 268,945 $ 201,051

Profit Margin% 40.33% 36.48% 34.44% 39.82% 33.12%
Adjustment for inflation -1.00% 1.50% 2.00% 1.00% 0.50%
Adjusted Margin% 39.92% 37.03% 35.12% 40.22% 33.29%

Total Work Hours 114,977 131,260 118,776 124,124 108,724

Billable Hours 106,713 122,939 110,519 115,876 100,552
Non-Billble Hours 8,264 8,321 8,257 8,248 8,172
Productivity Rate 92.81% 93.66% 93.05% 93.36% 92.48%
Project AC05
June July August September October November December
$ 727,529 $ 651,327 $ 708,977 $ 665,760 $ 726,157 $ 644,356 $ 723,295

$ 409,952 $ 415,192 $ 414,601 $ 402,761 $ 423,332 $ 406,848 $ 428,308

$ 170,448 $ 183,790 $ 173,867 $ 171,415 $ 185,611 $ 178,150 $ 186,537
$ 71,203 $ 70,132 $ 71,844 $ 71,966 $ 70,680 $ 71,582 $ 73,723
$ 18,784 $ 18,411 $ 17,749 $ 19,330 $ 16,310 $ 19,304 $ 15,500
$ 25,682 $ 31,892 $ 29,505 $ 25,274 $ 26,952 $ 26,425 $ 29,286
$ 2,655 $ 2,016 $ 2,334 $ 2,256 $ 2,546 $ 2,083 $ 2,875
$ 4,064 $ 4,072 $ 5,077 $ 4,856 $ 4,611 $ 4,842 $ 4,791
$ 7,987 $ 7,180 $ 7,878 $ 7,800 $ 7,698 $ 7,809 $ 7,102
$ 109,129 $ 97,699 $ 106,347 $ 99,864 $ 108,924 $ 96,653 $ 108,494

$ 317,577 $ 236,135 $ 294,376 $ 262,999 $ 302,825 $ 237,508 $ 294,987

43.65% 36.25% 41.52% 39.50% 41.70% 36.86% 40.78%
0.00% 1.50% 1.00% 1.00% 0.50% 2.00% 1.50%
43.65% 36.80% 41.94% 39.90% 41.91% 37.60% 41.40%

108,523 121,755 121,048 112,028 133,737 136,355 125,375

100,302 113,492 112,840 103,838 125,340 127,949 117,129
8,221 8,263 8,208 8,190 8,397 8,406 8,246
92.42% 93.21% 93.22% 92.69% 93.72% 93.84% 93.42%
 FY
$ 8,102,254

$ 4,951,800
$ 2,139,879
$ 865,045
$ 215,879
$ 338,248
$ 30,406
$ 56,344
$ 90,661
$ 1,215,338

$ 3,150,454
38.88%
0.96%
39.26%

1,456,682
1,357,489
99,193
93.19%