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1.) KCI records Foreign Currency Losses and Gains. Do I just include these in expenses or do I need to re-calculate taxes? Right now, I determine the effective tax rate (taxes/total revenue), add or subtract the Foreign Currency loss/gain to net revenue, and recalculate the income taxes.

I look at FX but exclude from both alternate income statement, as it is nonoperating. Also, one day the dollar is weak, the next it is strong.

2.) Do I include the current installment of LT Debt and Current installment of Capital Lease obligations in the calculation of working capital investment? If not, can someone give me some idea why not?

No. It is debt, not a WC liability.

3.) What about unusual charges or revenue, like Initial public offering expenses, recapitalization expenses, or Litigation settlements?

You need to use some judgment here. If the charge is one-time, then I would exclude. But if these expenses seem to appear on the IS with metronomic regularity, include.

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