《伊顿：我们如何部署现金盈余》.docVIP

伊顿：我们如何部署现金盈余 How One CFO Deploys Excess Cash 来源：天和网 核心提示：很多企业股东都呼吁处理资产负债表上的现金盈余，CFO们正努力探索有逻辑且清晰的部署方案。 Eaton Corp.’s Rick Fearon tells why capex and dividends top his list. 【据消息】 伊顿公司(Eaton Corp,一家电力企业)的CFO里克?费伦在本文中讲述了为什么资本性支出和股息位列他部署现金盈余的首要选择。 What should I do with all that cash? With shareholders clamoring for action by the abundance of companies with currently overstuffed balance sheets, many CFOs are laboring to arrive at a logical and articulate answer to that question. 我该怎么处理所有的现金盈余？大量的企业股东们呼吁处理目前资产负债表上的盈余的现金，许多CFO正在努力得出有逻辑而且清晰的答案。 In that context, having a well-established ranking of company priorities for disbursing excess cash can be a big help – especially when times change. Thus, while Eaton Corp., a multinational power-management company based in Cleveland, has a set percentage of cash it likes to deploy in capital expenditures, it had to pull back on capex to maintain liquidity during the financial crisis, according to its CFO and chief strategist, Rick Fearon. 在此环境下，企业拥有非常确实的使用现金盈余的优先次序会有很大的帮助 - 尤其是当时间改变时。根据伊顿公司CFO和首席策略师里克?费伦所讲，尽管该公司（一家总部设在克利夫兰的跨国电力管理公司）有一套愿意在资本支出上部署现金的比例，但它不得不拉回资本性支出，以维持金融危机期间的流动性。 Now that the economy appears for now to have moved out of that crisis stage, Eaton will spend more on its plants and equipment in order to get back to its prior average spending levels, the finance chief says. In a recent interview, Fearon told CFO why Eaton values capex as the top way to deploy capital and outlined the company’s views on the wisdom of outlays for dividends, acquisitions, and share buybacks. 现在的经济似乎现在已经摆脱了那场危机期，伊顿公司财务负责人说，伊顿公司将在厂房及设备支出更多资金，以恢复其之前的平均支出水平。在最近的一次采访中，费伦告诉CFO网为什么伊顿将资本性支出视为首要的部署资本方法，并概括了该公司对如何理智地分配股息、并购以及股份回购支出的观点。 What’s the order of your priorities in terms of spending excess cash? 支出盈余现金时，你的优先规则是什么？ Our guidance for operating cash flow after pension contributions this year is $1.6 billion to $1.7 billion. On average, we invest about 3% of sales into capital expenditures. If we were spending exactly on average,