Cash Flows$$

This part will ask you to perform a detailed analysis of Take$-$Two$$s cash flows for the year$$ ended March $31,2024$ and a summary analysis of Take$-$Two$$s cash flows for the five$-$year period ended March $31,2024.$

$$ For the year ended March $31,2024$ identify material differences between reported$$ operating cash flow and sustainable operating cash flow, if any. Also, in your team's$$ opinion, how strong is Take$-$Two$$s sustainable cash flow from operations and its sustainable$$ free cash flow?$$

$[$Note: Operating cash flow is affected by income from operations and the adjustments for$$ non$-$cash revenue and expense, but operating cash flow is also affected by the change in$$ operating assets and liabilities $($e$.$g$.,$ accounts receivable, inventory, accounts payable,$$ etc.$).$ Cash may be increased, for example, by the collection of accounts receivable $-$ in$$ excess of current year sales $-$ or by not paying accounts payable.$$

If$,$ for example, the cash generated from not paying accounts payable is considered$$ excessive, or not normal or not sustainable $($i$.$e$.,$ the company must pay accounts payable eventually and the current year adjustment is far in excess of what could be considered$$ normal$),$ you will need to adjust operating cash flow to remove the excess amount related$$ to accounts payable in order to understand the sufficiency of operating cash flow. The$$ adjusted operating cash flow is sustainable operating cash flow.$]$

$$ Develop an overall summary of the key elements of Take$-$Two$$s investing and financing$$ cash flows for the year ended March $31,2024.$ This is less about calculating the numbers$$ and more about analyzing and evaluating what the numbers tell you, and the conclusions$$ you can reach from the financial statements.$$

$$ Discuss the overall trends in Take$-$Two$$s cash flows for the five years ended March $31,2024.$