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Praxair Inc. Message Board

  • shortofaname_99 shortofaname_99 Apr 29, 2009 7:52 AM Flag

    Does PX cheat on depreciation?

    Capital expenditures are regularly twice the depreciation charge. How can this be for a company that is not growing? Depreciation this quarter was down YoY that enabled PX to meet analyst EPS estimates, even after a massive capital spending binge over the last year. Something fishy here. Aggressive accounting or maybe even borderline fraud.

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    • When a company like PX reports lower sales due to a weaker dollar, they also have to have lower reported depreciation in US dollars from their overseas businesses as well because of currency impacts on depreciation (and all other cost items) as well.
      "Cheating" - you've got to be kidding!

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