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The article didn't mention this you are using the current quarter's invested capital as opposed to the average invested capital over the last four quarters. Usually you take the average when you calculate metrics like return on invested capital, but the article used current quarter's number only.

The reason why your number are off is because the article neglected to mention that they backed out Cisco's long term investments (~$14 billion on 6/30/00). My own calculation for Cisco's IC is ~$7.2 billion and a TTM average of ~$4.3 billion.

Marv
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