Which of the following is NOT a component of cash flow from assets?

Cash flow from assets, often referred to in corporate finance as free cash flow, generally includes three key components: operating cash flow, changes in net working capital, and net capital expenditures. Each of these components plays a crucial role in understanding the overall cash flow generated by a company from its operational activities and investments in assets.

Operating cash flow is the cash generated from the normal operations of the business and reflects the company’s ability to generate cash through its core activities. Changes in net working capital account for the adjustments in current assets and liabilities necessary for day-to-day operations. Net capital expenditures relate to the investments made by the company in long-term assets, such as property, plant, and equipment, minus any depreciation.

Investment income, however, relates to revenues generated from financial investments, such as interest income or dividends received from investments in other companies. While this is a source of cash, it is typically classified separately from cash flow from assets since it does not arise directly from the company’s operational activities or asset management. Thus, it does not belong to the three core components that define cash flow from assets.

Understanding this distinction is paramount for deeper analysis in corporate finance, especially for evaluating the true performance of a company's operations without the influence of financing or investment activities