Arthur J. Gallagher & Co.

AJG

AJGArthur J. Gallagher & Co. US flag

New York Stock Exchange

218.69

USD

-2.21

- -

56.19BMarket Cap

Income Statement (USD)

MCP API Chat

	2011 Y	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	2,135	2,520	3,180	4,626	5,392	5,680	6,246	6,924	7,120	7,009	8,209	8,551	10,072	11,555	13,942
+ Sales & Services Revenue	2,135	2,520	3,180	4,626	5,392	5,680	6,246	6,924	7,120	7,009	8,209	8,551	10,072	11,555	13,942
- Cost of Revenue	1,358	1,605	2,122	3,226	3,780	4,078	4,519	4,984	4,831	4,500	5,234	4,953	5,826	6,676	8,006
+ Cost of Goods & Services	1,358	1,605	2,122	3,226	3,780	4,078	4,519	4,984	4,831	4,500	5,234	4,953	5,826	6,676	8,006
Gross Profit	777	915	1,057	1,400	1,612	1,603	1,726	1,940	2,289	2,509	2,976	3,597	4,246	4,879	5,936
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	534	624	714	1,002	1,175	1,127	1,215	1,323	1,543	1,469	1,639	1,930	2,386	2,597	3,380
+ Selling, General & Admin	419	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	115	624	714	1,002	1,175	1,127	1,215	1,323	1,543	1,469	1,639	1,930	2,386	2,597	3,380
Operating Income (Loss)	242	292	343	398	437	476	511	617	746	1,040	1,337	1,667	1,860	2,282	2,556
- Non-Operating (Income) Loss	35	46	52	106	144	142	152	138	120	169	362	340	675	407	685
+ Interest Expense, Net	41	43	50	89	103	110	124	138	180	196	226	257	297	381	639
+ Interest Expense	41	43	50	89	103	110	124	138	180	196	226	257	297	381	639
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-6	3	2	18	41	32	28	-1	-60	-27	136	83	378	26	46
Pretax Income	208	245	291	292	294	334	360	479	626	871	975	1,327	1,185	1,875	1,871
- Income Tax Expense (Benefit)	64	50	6	-36	-96	-97	-157	-196	-90	13	20	211	219	404	368
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	144	195	285	328	389	430	517	676	716	858	955	1,116	966	1,471	1,503
- Net Extraordinary Losses (Gains)	- -	- -	32	48	65	67	71	85	94	79	96	4	-8	16	18
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	32	48	65	67	71	85	94	79	96	4	-8	16	18
Income (Loss) Incl. MI	144	195	253	279	324	363	446	591	622	780	859	1,112	974	1,455	1,485
- Minority Interest	- -	- -	-16	-24	-32	-34	-36	-42	-47	-39	-48	-2	4	-8	-9
Net Income, GAAP	144	195	269	303	357	397	481	634	669	819	907	1,114	970	1,463	1,494
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	144	195	269	303	357	397	481	634	669	819	907	1,114	970	1,463	1,494
EBIT	242	292	343	398	437	476	511	617	746	1,040	1,337	1,667	1,860	2,282	2,556
EBITDA	358	432	521	657	771	826	897	1,036	1,220	1,603	1,903	2,266	2,557	3,125	3,678
EBITDA Margin (%)	16.75	17.14	16.4	14.2	14.3	14.55	14.37	14.97	17.14	22.86	23.18	26.51	25.39	27.04	26.38
EBITA	242	292	343	398	437	476	511	617	746	1,040	1,337	1,667	1,860	2,282	2,556
Gross Margin (%)	36.38	36.32	33.25	30.26	29.89	28.21	27.64	28.02	32.15	35.8	36.25	42.07	42.16	42.22	42.58
Operating Margin (%)	11.36	11.57	10.78	8.6	8.11	8.37	8.19	8.91	10.48	14.84	16.29	19.49	18.47	19.75	18.33
Profit Margin (%)	6.75	7.74	8.45	6.56	6.62	6.99	7.71	9.15	9.39	11.68	11.05	13.03	9.63	12.66	10.72
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.31	1.69	1.42	1.46	1.5	1.53	1.57	1.65	1.73	1.82	1.93	2.04	2.21	2.38	2.6
Depreciation Expense	115	140	179	259	334	351	386	419	474	562	566	600	697	843	1,122
Basic Weighted Avg Shares	112	121	129	153	172	178	180	183	186	191	203	210	215	221	256
Basic EPS, GAAP	1.29	1.61	2.08	1.98	2.07	2.23	2.67	3.47	3.6	4.29	4.47	5.3	4.51	6.63	5.83
Basic EPS from Cont Ops	1.29	1.61	2.21	2.14	2.26	2.42	2.87	3.7	3.85	4.49	4.71	5.31	4.49	6.67	5.87
Diluted Weighted Avg Shares	112	122	130	154	173	178	182	186	190	195	207	215	219	225	260
Diluted EPS, GAAP	1.28	1.59	2.06	1.97	2.06	2.22	2.64	3.4	3.52	4.2	4.37	5.19	4.42	6.5	5.74
Diluted EPS from Cont Ops	1.28	1.59	2.18	2.12	2.25	2.41	2.84	3.63	3.76	4.4	4.61	5.2	4.4	6.54	5.78

Balance Sheet (USD)

MCP API Chat

	2011 Y	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	2,199	2,430	2,876	3,811	4,214	4,416	7,269	8,119	9,118	11,124	17,670	22,285	32,116	44,113	34,356
+ Cash, Cash Equivalents & STI	291	302	298	314	480	546	681	607	605	665	403	738	972	14,987	1,396
+ Cash & Cash Equivalents	291	302	298	314	480	546	681	607	605	665	403	738	972	14,987	1,396
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	1,027	1,096	1,414	1,722	2,023	2,159	4,484	5,366	5,892	6,893	12,393	2,911	3,787	3,896	5,175
+ Accounts Receivable, Net	1,027	1,096	1,289	1,462	1,734	1,845	4,083	4,858	5,419	6,436	11,753	2,911	3,787	3,896	5,175
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	2	233	220	241	306	316	388	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	123	27	69	73	96	192	84	457	640	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	881	1,031	1,163	1,774	1,710	1,712	2,104	2,146	2,621	3,566	4,875	18,636	27,358	25,230	27,785
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,284	2,923	3,985	6,199	6,697	7,074	7,640	8,215	10,517	11,207	15,675	16,073	19,500	20,142	36,309
+ Property, Plant & Equip, Net	91	105	160	195	249	378	412	437	861	825	859	923	1,127	1,028	1,387
+ Property, Plant & Equip	336	364	446	549	648	789	881	942	1,453	1,554	1,668	1,809	2,151	2,184	2,869
- Accumulated Depreciation	245	258	285	353	399	412	468	505	592	729	808	886	1,024	1,156	1,482
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,193	2,817	3,824	6,003	6,448	6,696	7,228	7,778	9,656	10,383	14,815	15,150	18,373	19,114	34,922
+ Total Intangible Assets	1,717	2,282	3,224	5,226	5,362	5,395	5,809	6,399	7,937	8,527	12,620	12,862	16,109	16,800	33,277
+ Goodwill	1,155	1,473	2,145	3,450	3,663	3,768	4,165	4,626	5,618	6,127	8,666	9,489	11,476	12,270	22,593
+ Other Intangible Assets	562	810	1,079	1,776	1,699	1,627	1,645	1,773	2,319	2,400	3,954	3,372	4,633	4,530	10,684
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	476	535	600	778	1,086	1,301	1,419	1,380	1,719	1,856	2,195	2,289	2,264	2,314	1,645
Total Assets	4,484	5,352	6,860	10,010	10,910	11,490	14,910	16,334	19,635	22,331	33,345	38,358	51,616	64,255	70,665
+ Payables & Accruals	1,622	1,820	2,155	2,623	2,877	2,996	4,986	5,740	6,348	7,785	13,846	18,698	- -	- -	- -
+ Accounts Payable	1,622	1,820	2,155	2,623	2,877	2,996	4,986	5,740	6,348	7,785	13,846	18,698	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	10	129	630	268	382	704	441	519	791	279	473	552	959	425	866
+ ST Borrowings	10	129	630	268	382	704	441	519	791	279	473	552	959	425	866
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	442	414	500	752	928	912	1,303	1,434	1,782	2,072	2,416	2,088	30,106	28,835	31,653
+ Deferred Revenue	70	71	84	66	61	69	355	379	434	476	521	547	645	537	737
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	372	344	415	685	867	843	948	1,055	1,348	1,596	1,895	1,542	29,461	28,298	30,916
Total Current Liabilities	2,074	2,363	3,285	3,643	4,187	4,612	6,730	7,694	8,921	10,135	16,735	21,339	31,065	29,260	32,519
+ LT Debt	675	725	825	2,125	2,072	2,145	2,692	3,091	4,157	4,587	6,120	5,863	7,358	13,060	12,619
+ LT Borrowings	675	725	825	2,125	2,072	2,145	2,692	3,091	3,816	4,266	5,810	5,563	7,006	12,732	12,104
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	341	321	309	300	352	328	515
+ Other LT Liabilities	491	606	665	937	964	1,078	1,188	979	1,341	1,377	1,930	1,966	2,378	1,755	2,180
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	75	78	70	66	59	63	62	67	155
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	491	606	665	937	964	1,078	1,113	901	1,272	1,311	1,872	1,904	2,316	1,688	2,025
Total Noncurrent Liabilities	1,166	1,331	1,490	3,062	3,035	3,222	3,880	4,071	5,498	5,964	8,050	7,830	9,736	14,815	14,799
Total Liabilities	3,240	3,694	4,775	6,705	7,222	7,834	10,610	11,764	14,419	16,099	24,785	29,168	40,800	44,075	47,318
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	808	1,181	1,492	2,814	3,386	3,444	3,569	3,726	4,014	4,458	6,352	6,722	7,514	16,319	18,040
+ Common Stock	115	126	134	165	177	178	181	184	188	194	208	212	217	250	257
+ Additional Paid in Capital	693	1,055	1,358	2,649	3,209	3,266	3,388	3,542	3,826	4,264	6,144	6,510	7,298	16,069	17,783
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	483	510	596	676	774	916	1,222	1,559	1,901	2,372	2,882	3,562	4,053	4,986	5,806
+ Other Equity	-47	-33	-3	-261	-522	-764	-555	-786	-760	-644	-726	-1,140	-792	-1,151	-525
Equity Before Minority Interest	1,244	1,659	2,086	3,229	3,638	3,597	4,236	4,499	5,156	6,186	8,508	9,144	10,775	20,154	23,321
+ Minority/Non Controlling Interest	- -	- -	- -	76	50	59	64	71	60	46	52	47	40	26	26
Total Equity	1,244	1,659	2,086	3,305	3,688	3,656	4,300	4,570	5,216	6,233	8,560	9,190	10,815	20,180	23,347
Total Liabilities & Equity	4,484	5,352	6,860	10,010	10,910	11,490	14,910	16,334	19,635	22,331	33,345	38,358	51,616	64,255	70,665
Shares Outstanding	115	126	134	165	177	178	181	184	188	194	208	212	217	250	257
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	341	321	309	300	352	328	515
Net Debt	394	552	1,157	2,078	1,973	2,303	2,452	3,003	4,002	3,880	5,881	5,376	6,994	-1,830	11,574
Net Debt to Equity	31.67	33.28	55.5	62.89	53.5	62.99	57.02	65.72	76.73	62.25	68.7	58.5	64.66	-9.07	49.57
Tangible Common Equity Ratio	-17.1	-20.32	-31.31	-40.14	-30.16	-28.54	-16.59	-18.41	-23.27	-16.62	-19.59	-14.4	-14.91	7.12	-26.56
Current Ratio	1.06	1.03	0.88	1.05	1.01	0.96	1.08	1.06	1.02	1.1	1.06	1.04	1.03	1.51	1.06
Cash Conversion Cycle	-298.15	-237.59	-204.88	-161.73	-157.35	-147.87	-149.13	-157.12	-193.26	-264.47	-349.89	-886.09	-464.36	121.34	118.74

Cash Flow Statement (USD)

MCP API Chat

	2011 Y	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	144	195	269	328	389	430	517	676	716	858	955	1,116	966	1,471	1,503
+ Depreciation & Amortization	115	140	179	259	334	351	386	419	474	562	566	600	697	843	1,122
+ Non-Cash Items	10	17	37	-114	56	41	28	-11	-177	-126	-17	-143	491	228	-156
+ Stock-Based Compensation	14	8	8	11	11	15	17	14	14	14	13	24	31	42	49
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	-171	-162	-184	-209	43	109	61
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-5	10	29	-125	44	26	10	-25	-19	23	154	42	417	77	-266
+ Chg in Non-Cash Work Cap	15	-10	-111	-36	-93	-172	-76	-319	178	512	-112	-183	-122	41	-539
+ (Inc) Dec in Accts Receiv	52	12	-85	95	-209	-777	-48	-783	-435	-796	-172	-320	-504	-65	-278
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-53	66	161	256	452	829	238	819	574	1,298	94	169	385	321	52
+ Inc (Dec) in Other	16	-88	-187	-388	-335	-224	-267	-354	38	11	-33	-32	-3	-215	-313
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	284	343	372	437	686	650	854	765	1,191	1,807	1,392	1,390	2,032	2,583	1,930
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-46	-51	-94	-82	-99	-218	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	-46	-51	-94	-82	-99	-218	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	73	81	76	997	203	-55	43	71	101	112	1,547	123	120	8,507	1,499
+ Increase in Capital Stock	74	82	76	997	203	46	60	82	101	112	1,547	123	120	8,507	1,499
+ Decrease in Capital Stock	-1	-2	- -	- -	- -	-101	-18	-11	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-251	-333	-722	-1,910	-240	-236	-373	-770	-1,186	-316	-3,235	-754	-3,032	-1,442	-15,749
+ Cash from Divestitures	14	11	6	8	9	8	3	14	81	8	16	11	10	20	17
+ Cash for Acq of Subs	-265	-344	-728	-1,918	-250	-243	-376	-785	-1,267	-324	-3,251	-765	-3,042	-1,462	-15,766
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-14	2	-36	-20	-30	-32	-138	-140	-263	-155	-196	-251	-261	-145	-127
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-311	-382	-852	-2,012	-369	-485	-511	-910	-1,448	-471	-3,432	-1,005	-3,293	-1,587	-15,876
+ Dividends Paid	-146	-204	-183	-223	-258	-272	-283	-302	-321	-347	-392	-430	-474	-525	-667
+ Net Cash From Debt	135	169	602	817	79	347	-39	508	999	-79	1,759	-2,716	-1,749	5,267	-212
+ Cash From Debt	276	353	1,090	2,417	873	3,066	3,992	3,508	5,059	3,071	2,994	2,595	5,471	7,215	2,546
+ Repayments of Debt	-141	-184	-489	-1,600	-794	-2,719	-4,031	-3,000	-4,060	-3,150	-1,235	-5,312	-7,220	-1,948	-2,758
+ Other Financing Activities	4	- -	-15	-27	-56	-31	232	-115	-141	-190	82	3,235	4,977	-197	1,093
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	66	46	480	1,564	-32	-12	-48	162	638	-505	2,996	213	2,874	13,052	1,713
Effect of Foreign Exchange Rates	3	4	-5	28	-75	-108	72	-85	6	120	-64	-100	-34	-123	303
Net Changes in Cash	38	7	1	-12	286	153	295	17	381	831	956	598	1,613	14,048	-12,233
EBITDA	358	432	521	657	771	826	897	1,036	1,220	1,603	1,903	2,266	2,557	3,125	3,678
EBITDA Margin (%)	16.75	17.14	16.4	14.2	14.3	14.55	14.37	14.97	17.14	22.86	23.18	26.51	25.39	27.04	26.38
Free Cash Flow	238	292	279	355	587	432	854	765	1,191	1,807	1,392	1,390	2,032	2,583	1,930
Net Cash Paid for Acquisitions	251	333	722	1,910	240	236	373	770	1,186	316	3,235	754	3,032	1,442	15,749
Free Cash Flow to Firm	266	326	328	- -	- -	- -	- -	- -	- -	2,001	1,614	1,606	2,274	2,882	2,443
Free Cash Flow to Equity	373	461	880	1,172	666	779	815	1,273	2,190	1,728	3,151	-1,326	283	7,850	1,718
Free Cash Flow per Basic Share	2.13	2.41	2.16	2.32	3.41	2.43	4.74	4.19	6.4	9.46	6.87	6.61	9.45	11.71	7.53
Price/Free Cash Flow	11.4	10.77	13.14	14.02	9.03	10.69	13.49	17.93	15.2	13.35	25.27	29.12	24.28	24.72	34.88
Cash Flow to Net Income	1.97	1.76	1.39	1.44	1.92	1.64	1.77	1.21	1.78	2.21	1.54	1.25	2.09	1.77	1.29
Capital Expenditures	-46	-51	-94	-82	-99	-218	- -	- -	- -	- -	- -	- -	- -	- -	- -