Automatic Data Processing, Inc.

ADP

ADPAutomatic Data Processing, Inc. US flag

NASDAQ Global Select

272.96

USD

-3.27

- -

109.11BMarket Cap

Income Statement (USD)

API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Sales/Revenue/Turnover	10,595	9,442	10,226	10,938	11,668	12,372	13,274	14,110	14,590	15,005	16,498	18,012	19,203	20,561	21,947
+ Sales & Services Revenue	10,595	9,442	10,226	10,938	11,668	12,372	13,274	14,110	14,590	15,005	16,498	18,012	19,203	20,561	21,947
- Cost of Revenue	6,204	5,574	6,041	6,428	6,840	7,244	7,757	8,022	8,445	8,640	9,462	9,953	10,477	11,097	11,760
+ Cost of Goods & Services	6,204	5,574	6,041	6,428	6,840	7,244	7,757	8,022	8,445	8,640	9,462	9,953	10,477	11,097	11,760
Gross Profit	4,392	3,868	4,185	4,511	4,828	5,128	5,517	6,089	6,145	6,365	7,036	8,059	8,726	9,464	10,187
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,453	2,200	2,370	2,497	2,637	2,774	2,959	3,064	3,003	3,040	3,233	3,551	3,779	4,052	4,408
+ Selling, General & Admin	2,453	2,200	2,370	2,497	2,637	2,774	2,959	3,064	3,003	3,040	3,233	3,551	3,779	4,052	4,408
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	1,939	1,668	1,815	2,014	2,190	2,354	2,557	3,024	3,142	3,325	3,803	4,507	4,947	5,412	5,779
- Non-Operating (Income) Loss	-163	-43	-64	-57	-44	-263	275	19	-41	-37	-1	70	75	102	49
+ Interest Expense, Net	-78	-55	-48	-50	-6	3	19	32	23	23	41	104	120	136	88
+ Interest Expense	8	9	6	6	56	80	103	130	107	60	82	253	361	456	459
- Interest Income	85	64	54	57	62	77	84	98	84	36	41	150	241	320	371
+ Other Non-Op (Income) Loss	-86	13	-16	-6	-38	-266	256	-14	-64	-60	-42	-34	-45	-35	-40
Pretax Income	2,102	1,710	1,879	2,071	2,235	2,617	2,283	3,006	3,183	3,361	3,804	4,438	4,872	5,310	5,730
- Income Tax Expense (Benefit)	726	588	637	694	741	829	398	713	716	763	855	1,026	1,120	1,230	1,317
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	1,375	1,122	1,243	1,376	1,493	1,788	1,885	2,293	2,466	2,598	2,949	3,412	3,752	4,080	4,414
- Net Extraordinary Losses (Gains)	-13	-284	-273	-76	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	13	284	273	76	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-27	-567	-547	-152	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	1,388	1,406	1,516	1,452	1,492	1,788	1,885	2,293	2,466	2,598	2,949	3,412	3,752	4,080	4,414
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	1,388	1,406	1,516	1,452	1,492	1,788	1,885	2,293	2,466	2,598	2,949	3,412	3,752	4,080	4,414
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	1,388	1,406	1,516	1,452	1,492	1,788	1,885	2,293	2,466	2,598	2,949	3,412	3,752	4,080	4,414
EBIT	1,939	1,668	1,815	2,014	2,190	2,354	2,557	3,024	3,142	3,325	3,803	4,507	4,947	5,412	5,779
EBITDA	2,258	1,919	2,082	2,292	2,479	2,670	2,935	3,433	3,622	3,835	4,318	5,057	5,509	5,994	6,365
EBITDA Margin (%)	21.31	20.32	20.36	20.95	21.25	21.58	22.11	24.33	24.82	25.56	26.17	28.07	28.69	29.15	29
EBITA	1,939	1,668	1,815	2,014	2,190	2,354	2,557	3,024	3,142	3,325	3,803	4,507	4,947	5,412	5,779
Gross Margin (%)	41.45	40.96	40.93	41.24	41.37	41.44	41.56	43.15	42.12	42.42	42.65	44.74	45.44	46.03	46.42
Operating Margin (%)	18.3	17.66	17.75	18.41	18.77	19.02	19.27	21.43	21.53	22.16	23.05	25.02	25.76	26.32	26.33
Profit Margin (%)	13.1	14.89	14.82	13.28	12.79	14.45	14.2	16.25	16.91	17.32	17.87	18.94	19.54	19.84	20.11
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.52	1.67	1.84	1.96	2.06	2.22	2.41	2.97	3.41	3.7	3.96	4.6	5.32	5.89	- -
Depreciation Expense	319	251	267	278	289	316	378	409	480	511	515	549	562	582	586
Basic Weighted Avg Shares	487	483	479	473	457	448	441	435	431	426	419	414	411	407	- -
Basic EPS, GAAP	2.85	2.91	3.17	3.07	3.27	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10.02	- -
Basic EPS from Cont Ops	2.82	2.32	2.59	2.91	3.27	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10.02	- -
Diluted Weighted Avg Shares	492	487	483	476	459	450	443	438	433	428	421	416	412	409	- -
Diluted EPS, GAAP	2.82	2.89	3.14	3.05	3.25	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98	- -
Diluted EPS from Cont Ops	2.79	2.3	2.57	2.89	3.25	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98	- -

Balance Sheet (USD)

API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

Total Current Assets	25,273	26,214	27,493	28,809	39,500	32,659	31,823	34,342	31,564	40,742	54,805	42,171	45,542	43,252	52,561
+ Cash, Cash Equivalents & STI	1,578	1,727	3,616	1,666	3,215	2,780	2,170	1,960	1,908	2,575	1,483	2,098	3,297	7,847	4,230
+ Cash & Cash Equivalents	1,548	1,699	1,584	1,639	3,191	2,780	2,170	1,949	1,908	2,575	1,436	2,084	2,913	3,348	4,230
+ ST Investments	30	28	2,032	27	24	- -	- -	10	- -	- -	47	15	384	4,499	- -
+ Accounts & Notes Receiv	1,392	1,595	1,499	1,547	1,743	1,704	1,984	2,439	2,441	2,727	3,171	3,010	3,428	3,579	3,521
+ Accounts Receivable, Net	1,315	1,516	1,415	1,547	1,743	1,704	1,984	2,439	2,441	2,727	3,171	3,010	3,428	3,579	3,521
+ Notes Receivable, Net	77	79	84	17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	-17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	22,302	22,892	22,378	25,596	34,543	28,175	27,669	29,943	27,214	35,439	50,151	37,063	38,817	31,826	44,810
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	5,545	6,054	4,567	4,301	4,170	4,521	7,026	7,545	7,601	8,031	8,263	8,800	8,820	10,117	10,632
+ Property, Plant & Equip, Net	706	729	667	673	685	780	794	764	1,198	1,147	1,104	1,084	1,056	1,030	1,030
+ Property, Plant & Equip	1,956	2,041	1,719	1,776	1,841	2,031	2,136	2,182	2,722	2,707	2,733	2,841	2,874	2,952	3,073
- Accumulated Depreciation	1,250	1,312	1,052	1,104	1,156	1,252	1,343	1,418	1,525	1,560	1,629	1,758	1,818	1,922	2,043
+ LT Investments & Receivables	87	314	54	29	8	- -	- -	- -	- -	- -	122	105	- -	- -	- -
+ LT Investments	87	314	54	29	8	- -	- -	- -	- -	- -	122	105	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4,752	5,011	3,846	3,600	3,477	3,741	6,232	6,781	6,404	6,884	7,038	7,612	7,764	9,088	9,602
+ Total Intangible Assets	3,750	3,682	2,374	2,297	2,216	2,361	3,130	3,394	3,525	3,548	3,634	3,683	3,690	4,876	4,938
+ Goodwill	3,062	3,039	1,884	1,794	1,682	1,741	2,244	2,323	2,309	2,338	2,300	2,339	2,354	3,274	3,284
+ Other Intangible Assets	688	643	491	503	534	620	886	1,072	1,216	1,210	1,333	1,344	1,336	1,603	1,653
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1,001	1,329	1,471	1,303	1,261	1,380	3,102	3,387	2,879	3,336	3,404	3,929	4,074	4,211	4,665
Total Assets	30,817	32,268	32,060	33,110	43,670	37,180	38,849	41,888	39,166	48,772	63,068	50,971	54,363	53,369	63,193
+ Payables & Accruals	2,055	2,212	2,193	2,235	2,282	2,394	2,694	3,000	3,067	3,464	3,549	3,935	4,991	4,864	5,203
+ Accounts Payable	167	156	152	194	152	150	135	126	102	141	110	97	101	169	162
+ Accrued Taxes	39	39	20	27	28	49	44	55	40	58	38	44	15	9	110
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1,848	2,016	2,021	2,013	2,102	2,195	2,514	2,820	2,925	3,264	3,400	3,794	4,875	4,686	4,930
+ ST Debt	- -	246	2,173	- -	- -	- -	- -	262	1,002	24	136	105	385	4,770	- -
+ ST Borrowings	- -	246	2,173	- -	- -	- -	- -	262	1,002	24	136	105	385	4,770	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	21,198	22,275	19,802	24,879	33,565	27,422	27,719	29,365	26,058	34,608	51,474	38,727	39,704	31,644	44,822
+ Deferred Revenue	313	315	237	229	233	233	226	221	212	204	188	189	200	263	268
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	20,885	21,960	19,565	24,650	33,332	27,189	27,494	29,144	25,845	34,404	51,286	38,539	39,504	31,382	44,555
Total Current Liabilities	23,253	24,733	24,168	27,114	35,847	29,816	30,413	32,628	30,127	38,095	55,159	42,768	45,080	41,278	50,025
+ LT Debt	17	15	12	9	2,008	2,002	2,002	2,002	1,347	3,328	3,358	3,339	3,320	4,296	5,271
+ LT Borrowings	17	15	12	9	2,008	2,002	2,002	2,002	1,003	2,985	2,987	2,989	2,991	3,975	4,964
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	344	343	371	350	329	321	307
+ Other LT Liabilities	1,434	1,331	1,210	1,179	1,333	1,385	1,698	1,858	1,940	1,679	1,326	1,355	1,415	1,607	1,866
+ Accrued Liabilities	848	728	591	535	632	554	970	1,059	1,102	845	402	422	424	549	725
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	586	603	619	644	701	830	728	799	837	834	924	934	991	1,058	1,141
Total Noncurrent Liabilities	1,451	1,345	1,222	1,188	3,341	3,387	3,700	3,860	3,287	5,008	4,684	4,694	4,735	5,903	7,137
Total Liabilities	24,703	26,078	25,390	28,302	39,188	33,203	34,113	36,488	33,413	43,102	59,843	47,462	49,815	47,181	57,162
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	550	521	609	727	832	932	1,079	1,247	1,398	1,595	1,858	2,166	2,471	2,852	3,132
+ Common Stock	64	64	64	64	64	64	64	64	64	64	64	64	64	64	64
+ Additional Paid in Capital	486	457	545	663	768	868	1,015	1,183	1,334	1,531	1,794	2,102	2,407	2,788	3,068
- Treasury Stock	7,105	7,367	7,750	9,118	10,139	11,304	12,210	13,090	14,067	15,387	17,335	18,469	19,737	21,021	23,166
+ Retained Earnings	12,438	13,020	13,633	13,460	14,003	14,728	16,547	17,501	18,436	19,451	20,696	22,118	23,622	25,241	26,967
+ Other Equity	230	15	178	-261	-215	-379	-680	-257	-15	11	-1,994	-2,306	-1,808	-883	-902
Equity Before Minority Interest	6,114	6,190	6,670	4,808	4,482	3,977	4,736	5,400	5,752	5,670	3,225	3,509	4,548	6,188	6,031
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	6,114	6,190	6,670	4,808	4,482	3,977	4,736	5,400	5,752	5,670	3,225	3,509	4,548	6,188	6,031
Total Liabilities & Equity	30,817	32,268	32,060	33,110	43,670	37,180	38,849	41,888	39,166	48,772	63,068	50,971	54,363	53,369	63,193
Shares Outstanding	484	483	480	466	456	445	439	434	430	424	416	412	408	405	398
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	344	343	371	350	329	321	307
Net Debt	-1,531	-1,438	600	-1,630	-1,183	-778	-168	315	96	433	1,687	1,011	463	5,396	734
Net Debt to Equity	-25.05	-23.24	9	-33.9	-26.41	-19.56	-3.54	5.83	1.67	7.64	52.31	28.81	10.19	87.21	12.17
Tangible Common Equity Ratio	8.73	8.77	14.47	8.15	5.46	4.64	4.5	5.21	6.25	4.69	-0.69	-0.37	1.69	2.7	1.88
Current Ratio	1.09	1.06	1.14	1.06	1.1	1.1	1.05	1.05	1.05	1.07	0.99	0.99	1.01	1.05	1.05
Cash Conversion Cycle	35.41	44.12	42.98	39.57	42.2	43.23	43.99	51.28	56.13	57.73	60.4	58.82	57.75	57.76	53.89

Cash Flow Statement (USD)

API ChatGPT

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
As of date	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025	06/30/2026

+ Net Income	1,388	1,369	1,516	1,452	1,492	1,788	1,885	2,293	2,466	2,598	2,949	3,412	3,752	4,080	4,414
+ Depreciation & Amortization	319	251	267	278	289	316	378	409	480	511	515	549	562	582	586
+ Non-Cash Items	159	240	138	396	245	994	1,294	1,192	1,200	922	1,274	1,185	1,261	1,423	1,548
+ Stock-Based Compensation	94	82	117	143	138	139	175	167	131	175	202	220	244	266	243
+ Deferred Income Taxes	36	34	-38	-15	1	41	-152	9	26	-251	37	-80	-37	37	156
+ Asset Impairment Charge	8	43	- -	- -	- -	- -	- -	12	30	20	3	44	55	53	48
+ Other Non-Cash Adj	21	82	59	268	107	814	1,271	1,004	1,013	977	1,033	1,001	1,000	1,067	1,101
+ Chg in Non-Cash Work Cap	31	-353	-144	-149	-129	-972	-1,042	-1,206	-1,120	-937	-1,638	-939	-1,417	-1,146	-1,106
+ (Inc) Dec in Accts Receiv	-42	-184	-171	-175	-225	23	-292	-474	-114	-340	-486	129	-484	-147	1
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	145	105	273	135	205	144	109	255	-96	432	107	290	495	351	406
+ Inc (Dec) in Other	-72	-274	-246	-109	-109	-1,139	-858	-987	-910	-1,029	-1,258	-1,357	-1,428	-1,350	-1,512
+ Net Cash From Disc Ops	12	70	44	-3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	1,910	1,577	1,821	1,974	1,897	2,126	2,515	2,688	3,026	3,093	3,100	4,208	4,158	4,940	5,441
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	72	10	- -	24	16	- -	- -	8	29	19	34	- -	28	11	- -
+ Disp of Fixed Prod Assets	72	10	- -	24	16	- -	- -	8	29	19	34	- -	28	11	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-110	-105	-144	-177	-218	-230	-265	-404	-444	-327	-379	-365	-355	-378	-468
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	-110	-105	-144	-177	-218	-230	-265	-404	-444	-327	-379	-365	-355	-378	-468
+ Cash (Repurchase) of Equity	-741	-647	-667	-1,557	-1,156	-1,260	-989	-938	-1,006	-1,372	-1,969	-1,121	-1,232	-1,280	-2,083
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-741	-647	-667	-1,557	-1,156	-1,260	-989	-938	-1,006	-1,372	-1,969	-1,121	-1,232	-1,280	-2,083
+ Net Change in LT Investment	-1,151	-1,264	-1,355	-1,207	-661	-789	-1,422	-1,514	3,743	-3,028	-6,484	-1,913	-796	-1,319	-4,015
+ Dec in LT Investment	3,962	3,639	2,060	3,841	5,215	3,594	3,455	2,909	7,648	6,238	4,250	4,706	6,040	6,539	8,345
+ Inc in LT Investment	-5,114	-4,903	-3,415	-5,048	-5,876	-4,383	-4,877	-4,423	-3,905	-9,266	-10,733	-6,619	-6,835	-7,858	-12,360
+ Net Cash From Acq & Div	-266	119	24	90	162	147	-612	-126	- -	- -	-12	-32	-34	-1,165	-23
+ Cash from Divestitures	- -	161	24	99	162	234	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-266	-42	- -	-8	- -	-87	-612	-126	- -	- -	-12	-32	-34	-1,165	-23
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	4,698	-339	2,288	-2,491	-168	-240	-206	-162	-173	-179	-174	-206	-233	-184	-208
+ Net Cash From Disc Ops	- -	-48	-90	-17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	3,244	-1,578	813	-3,760	-869	-1,113	-2,505	-2,198	3,156	-3,515	-7,014	-2,517	-1,389	-3,035	-4,714
+ Dividends Paid	-740	-806	-883	-928	-944	-995	-1,064	-1,293	-1,470	-1,576	-1,659	-1,904	-2,183	-2,399	-2,626
+ Net Cash From Debt	-2	-18	2,170	-2,175	1,997	-2	-7	-2	-2	980	-1	-1	-1	5,749	985
+ Cash From Debt	- -	- -	2,173	- -	1,998	- -	- -	- -	- -	1,982	- -	- -	- -	6,750	986
+ Repayments of Debt	-2	-18	-3	-2,175	-2	-2	-7	-2	-2	-1,002	-1	-1	-1	-1,001	-1
+ Other Financing Activities	-3,471	1,621	-2,978	6,208	8,855	-6,025	404	2,025	-3,412	8,406	17,283	-12,655	1,984	-9,043	8,606
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-4,954	151	-2,358	1,548	8,753	-8,282	-1,656	-208	-5,891	6,438	13,653	-15,681	-1,432	-6,973	4,881
Effect of Foreign Exchange Rates	-41	1	8	-106	-9	-8	6	-29	-34	74	-99	-21	-22	37	-38
Net Changes in Cash	200	150	276	-238	9,781	-7,269	-1,645	283	292	6,016	9,738	-13,990	1,337	-5,069	5,608
EBITDA	2,258	1,919	2,082	2,292	2,479	2,670	2,935	3,433	3,622	3,835	4,318	5,057	5,509	5,994	6,365
EBITDA Margin (%)	21.31	20.32	20.36	20.95	21.25	21.58	22.11	24.33	24.82	25.56	26.17	28.07	28.69	29.15	29
Free Cash Flow	1,801	1,472	1,678	1,797	1,680	1,896	2,250	2,284	2,582	2,766	2,720	3,842	3,803	4,561	4,973
Net Cash Paid for Acquisitions	266	-119	-24	-90	-162	-147	612	126	- -	- -	12	32	34	1,165	23
Free Cash Flow to Firm	1,806	1,478	1,682	1,802	1,717	1,950	2,335	2,383	2,666	2,812	2,784	4,037	4,081	4,912	5,326
Free Cash Flow to Equity	1,980	1,570	3,992	-178	3,910	2,124	2,508	2,694	3,053	4,092	3,133	4,207	4,185	10,699	6,426
Free Cash Flow per Basic Share	3.7	3.05	3.5	3.8	3.68	4.23	5.11	5.25	5.99	6.49	6.5	9.29	9.26	11.2	- -
Price/Free Cash Flow	11.9	17.49	17.1	17.75	19.94	19.58	21.39	23.39	18.57	24.86	25.43	19.98	21.8	23.7	- -
Cash Flow to Net Income	1.38	1.12	1.2	1.36	1.27	1.19	1.33	1.17	1.23	1.19	1.05	1.23	1.11	1.21	1.23
Capital Expenditures	-110	-105	-144	-177	-218	-230	-265	-404	-444	-327	-379	-365	-355	-378	-468