fix: use net PP&E in capex formula to prevent depreciation double-count (#354)#540
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AlexFiliakov merged 1 commit intodevelopfrom Feb 8, 2026
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…nt (#354) The cash flow statement's capex calculation used gross PP&E, which is not reduced by depreciation. The formula Capex = ΔPP&E + Depreciation is only correct with **net** PP&E. With gross PP&E the depreciation was added back in operating activities *and* subtracted again as investing capex, making cash flow from investing too negative by the full depreciation amount. Switch _calculate_capex to read net_ppe instead of gross_ppe and update all affected test fixtures (cash balances, expected capex, comments).
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Summary
_calculate_capexusedgross_ppe(not reduced by depreciation), so adding depreciation back double-counted it — cash flow from investing was too negative by the full depreciation amount each periodnet_ppe(gross_ppe − accumulated_depreciation) which is reduced by depreciation, makingCapex = Δ(Net PP&E) + Depreciationcorrectnet_ppevalues and recalculated expected cash/capex amountsCloses #354
Test plan
test_cash_flow_statement.py— 18 tests pass (capex, investing CF, reconciliation)test_cash_reconciliation.py— 9 tests pass (all reconciliation scenarios)test_financial_statements.py— 37 tests pass (generator, balance sheet, income statement, cash flow)test_financial_statements_coverage.py— 41 tests pass (coverage edge cases including capex missing-dep error)test_depreciation_tracking.py,test_balance_sheet_classification.py,test_working_capital_changes.py,test_dividend_phantom_payments.py— 59 tests pass (no regressions)test_manufacturer_methods.py,test_manufacturer_coverage.py,test_roe_insurance.py,test_excel_reporter.py— 94 tests pass (no regressions)