# Lease cash comparison kit

This package separates current-period cash, noncash lease-asset additions and future payments. It is an analytical aid for researchers and agents, not an accounting opinion or an issuer forecast.

## Contents

- `evidence.json`: Microsoft FY26 consolidated observations, original labels, source links, periods and assumptions.
- `row-template.json`: an empty issuer-period template. Unknown values stay null.
- `compare.mjs`: two cash subtotals and a fixed-economics classification illustration.
- `results.json`: precomputed results for readers who do not run code.
- `render-figures.mjs`: SVG generation; optional PNG rendering with Sharp.

Run `node compare.mjs` to check the calculations. Add `--write` to refresh results. Run `node render-figures.mjs` for SVGs; `--png` also writes PNGs when Sharp is available. `AIC_SHARP_MODULE` may point to an installed Sharp module. Node.js 22 or later is sufficient for the calculation.

## Calculation scope

`cashView` uses positive magnitudes for cash PP&E and finance-lease principal. Operating cash can be negative. Explicit null principal produces a null supplemental residual; missing principal does not silently become zero. The residual excludes all other investing and financing, and is neither ending cash nor unrestricted liquidity.

`classificationExample` holds economic cash payments, taxes and timing fixed for one period. It contrasts U.S. GAAP cash-flow classifications, not freely selectable labels or an actual change to a legal lease. It is not a Microsoft counterfactual.

The actual Microsoft example is its full fiscal year ended June 30, 2026. Management's calendar-year guidance and future contractual amounts have different time bases. Do not sum the three ledgers, mix cash payments with new ROU assets, or subtract lease cash already included in OCF a second time.

P1 remains the original September-quarter operating-cash-minus-cash-PP&E forecast. The FY26 annual example and supplemental residual do not replace its observations, definition or score.

Reuse figures with attribution to AI Infra Credit and a link to the report. Preserve scope, dates, units, assumptions and source notes.