netted

Gains and losses within each group would be netted to arrive at a net gain or net loss for each group.

EGADs and PINAs are adjusted separately in the ELF to prevent losses attributable to EGADs from being netted against gain from EGADs.

When payments are settled on a net basis, the parties to the payments offset the amounts they are due to pay and receive with each other (or with a central party, or clearinghouse) and maintain a running balance of the netted amounts.

If the debts are not offset or netted, however, the taxpayer could pay a whopping 4-1/2 percent differential on the interest it pays on the $100 it owes for 1986 as compared with the interest it receives on the $100 the Government owes the taxpayer for 1985 even though there is no true net debt (as of March 15, 1987) owed to the Government.

Inflows from sales and outflows from purchases are not netted and are reported as investing activities in the statement of cash flows.