FCFE Calculation with Debt Ratio

Hi all. Need help to understand FCFE formula with debt ratio. So, if debt ratio is used to calculate FCFE, then the following forma is used:

FCFE = NI - (1 - DR) (Capex - Depr) - (1 - DR) (WC)

I understand that the DR adjusts for net borrowings, which increases with the DR used for CAPEX and WC. However, why is there an adjustment for Depr with the DR? Shouldn’t depreciation expense on income statement be the same regardless of DR?