The cash available to a business generated from its operations. A positive cash flow means that the net operating income is sufficient to cover expenses. A negative cash flow shows that expenses exceed revenues. A corporation issues a statement of cash flow with its quarterly and yearly earnings report. The statement shows where the company received its funds from and where they were spent. A popular measurement of cash flow, especially among Wall Street analysts, is free cash flow, which is cash flow left after expenses, capital expenditures, dividends, and debt service has been paid, although some companies may slightly vary what comprises free cash flow. The concept of free cash flow gained followers after the bear market that started in 2000 brought into question the quality of companies’ financial statements.