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décalage

English translation: shift, postponement

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13:53 Feb 19, 2012
French to English translations [PRO]
Law/Patents - Finance (general) / Annual report
French term or phrase: décalage
Hello All,

Working on an annual report and came across the following sentence. The meaning of the word in this financial context is eluding me. As always, thanks in advance for all suggestions.

"Le Free Cash Flow cumulé est supérieur au budget, avec une variation positive du BFR d’exploitation et un décalage de certains investissements."
Joy Lewis
Local time: 06:30
English translation:shift, postponement
Explanation:
investments will be carried out at a later date
Selected response from:

ann huwaert
Local time: 12:30
Grading comment
Thanks
3 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3offset
Just Opera
4 +1lagrkillings
4shift, postponementann huwaert
3putting off or discrepancyAlison Sparks


  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
shift, postponement


Explanation:
investments will be carried out at a later date

ann huwaert
Local time: 12:30
Specializes in field
Native speaker of: Native in DutchDutch
PRO pts in category: 3
Grading comment
Thanks
Login to enter a peer comment (or grade)

8 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
putting off or discrepancy


Explanation:
Needs a bit more context?

Alison Sparks
Local time: 12:30
Specializes in field
Native speaker of: English
PRO pts in category: 7
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19 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
offset


Explanation:
dictionary definition, standard financial term



--------------------------------------------------
Note added at 19 mins (2012-02-19 14:13:25 GMT)
--------------------------------------------------

http://financial-dictionary.thefreedictionary.com/offset

Just Opera
Belgium
Local time: 12:30
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans
26 mins

agree  Gallagy: yep
1 hr

agree  rokotas
5 hrs
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19 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
lag


Explanation:
With a lag in certain investment outlays.

All that décalage really says is that the investments didn't occur quite when they were expected to occur in the budget, and they were not ahead of schedule either. No need to get into active verbs like "delayed" or "postponed" that imply an agent. And in *this* context, the reader is (very) unlikely to understand "offset" to mean an offset in time.

rkillings
United States
Local time: 03:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1140

Peer comments on this answer (and responses from the answerer)
agree  Kevin SC: yes, lagged investments
5 hrs
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