Avery Dennison Corporation

AVY

AVYAvery Dennison Corporation US flag

New York Stock Exchange

160.71

USD

+1.64

- -

12.29BMarket Cap

Income Statement (USD)

API ChatGPT

	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	5,845	5,864	6,140	6,330	5,967	6,086	6,614	7,159	7,070	6,972	8,408	9,039	8,364	8,756	8,856
+ Sales & Services Revenue	5,845	5,864	6,140	6,330	5,967	6,086	6,614	7,159	7,070	6,972	8,408	9,039	8,364	8,756	8,856
- Cost of Revenue	4,370	4,335	4,502	4,679	4,321	4,387	4,802	5,244	5,166	5,048	6,096	6,635	6,087	6,225	6,309
+ Cost of Goods & Services	4,370	4,335	4,502	4,679	4,321	4,387	4,802	5,244	5,166	5,048	6,096	6,635	6,087	6,225	6,309
Gross Profit	1,475	1,528	1,638	1,651	1,646	1,700	1,812	1,916	1,904	1,923	2,313	2,404	2,278	2,531	2,546
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,139	1,149	1,174	1,159	1,108	1,086	1,105	1,128	1,080	1,060	1,248	1,331	1,314	1,415	1,422
+ Selling, General & Admin	1,139	1,149	1,174	1,159	1,108	1,086	1,105	1,128	1,080	1,060	1,112	1,195	1,178	1,278	1,286
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	137	136	136	138	137
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	336	379	464	492	538	614	707	788	824	863	1,064	1,073	964	1,115	1,124
- Non-Operating (Income) Loss	123	142	98	132	129	137	118	233	574	126	72	74	269	162	199
+ Interest Expense, Net	71	73	61	63	60	60	63	58	76	70	70	84	119	117	135
+ Interest Expense	71	73	61	63	60	60	63	58	76	70	70	84	119	117	135
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	52	69	37	68	68	77	54	175	498	56	2	-10	150	45	63
Pretax Income	213	238	366	361	409	477	590	555	250	737	993	999	695	954	925
- Income Tax Expense (Benefit)	72	80	124	114	134	156	308	85	-57	178	249	242	192	249	237
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	142	158	242	247	274	321	282	467	304	556	740	757	503	705	688
- Net Extraordinary Losses (Gains)	-48	-58	28	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	48	58	-28	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-97	-116	57	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	190	215	213	245	274	321	282	467	304	556	740	757	503	705	688
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	190	215	213	245	274	321	282	467	304	556	740	757	503	705	688
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	190	215	213	245	274	321	282	467	304	556	740	757	503	705	688
EBIT	336	379	464	492	538	614	707	788	824	863	1,064	1,073	964	1,115	1,124
EBITDA	582	600	668	694	726	794	886	969	1,003	1,068	1,308	1,364	1,262	1,428	1,452
EBITDA Margin (%)	9.96	10.23	10.88	10.96	12.17	13.05	13.39	13.54	14.18	15.32	15.56	15.09	15.09	16.3	16.4
EBITA	336	379	464	492	538	614	707	788	824	863	1,064	1,073	964	1,115	1,124
Gross Margin (%)	25.24	26.06	26.67	26.08	27.58	27.93	27.4	26.76	26.93	27.59	27.51	26.6	27.23	28.9	28.75
Operating Margin (%)	5.75	6.47	7.55	7.78	9.01	10.09	10.69	11.01	11.65	12.38	12.66	11.87	11.52	12.74	12.69
Profit Margin (%)	3.25	3.67	3.47	3.87	4.6	5.27	4.26	6.53	4.29	7.97	8.8	8.38	6.01	8.05	7.77
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1	1.1	1.16	1.38	1.48	1.61	1.77	2.07	2.28	2.37	2.67	2.96	3.19	3.48	3.75
Depreciation Expense	246	221	205	202	188	180	179	181	179	205	244	291	298	312	328
Basic Weighted Avg Shares	107	100	96	90	90	88	88	85	83	83	83	81	80	80	77
Basic EPS, GAAP	1.78	2.16	2.22	2.71	3.05	3.63	3.2	5.52	3.64	6.69	8.96	9.37	6.25	8.83	8.95
Basic EPS from Cont Ops	1.33	1.58	2.51	2.73	3.05	3.63	3.2	5.52	3.64	6.69	8.96	9.37	6.25	8.83	8.95
Diluted Weighted Avg Shares	107	104	100	96	93	91	90	89	85	84	84	82	81	81	78
Diluted EPS, GAAP	1.78	2.08	2.13	2.56	2.95	3.54	3.13	5.28	3.57	6.61	8.83	9.21	6.2	8.73	8.79
Diluted EPS from Cont Ops	1.33	1.52	2.41	2.58	2.95	3.54	3.13	5.28	3.57	6.61	8.83	9.21	6.2	8.73	8.79

Balance Sheet (USD)

API ChatGPT

	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	2,219	2,412	2,092	1,921	1,775	1,905	2,238	2,298	2,341	2,416	2,735	2,782	2,796	3,079	2,990
+ Cash, Cash Equivalents & STI	178	235	352	207	159	195	224	232	254	252	163	167	215	329	203
+ Cash & Cash Equivalents	178	235	352	207	159	195	224	232	254	252	163	167	215	329	203
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	877	973	1,016	958	996	1,031	1,209	1,190	1,212	1,235	1,424	1,374	1,415	1,466	1,504
+ Accounts Receivable, Net	877	973	1,016	958	965	1,001	1,180	1,190	1,212	1,235	1,424	1,374	1,415	1,466	1,504
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	31	30	29	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	475	473	494	492	479	519	610	651	663	717	907	1,010	921	978	976
+ Raw Materials	194	184	196	184	180	185	215	236	232	269	394	458	415	435	388
+ Work In Process	126	139	149	150	143	157	180	197	201	210	233	255	238	225	242
+ Finished Goods	155	150	149	158	155	177	215	218	230	238	280	297	267	318	346
+ Inventory Adjustments	-55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	689	730	230	264	142	159	195	225	212	212	240	230	245	305	308
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,754	2,694	2,519	2,436	2,358	2,492	2,899	2,880	3,148	3,668	5,237	5,168	5,414	5,326	5,811
+ Property, Plant & Equip, Net	1,079	1,016	922	875	848	915	1,098	1,137	1,211	1,344	1,478	1,540	1,626	1,587	1,608
+ Property, Plant & Equip	2,868	2,871	2,703	2,654	2,600	2,661	3,001	3,054	3,172	3,476	3,626	3,748	3,970	3,994	4,272
- Accumulated Depreciation	1,789	1,856	1,780	1,779	1,752	1,746	1,903	1,916	1,961	2,133	2,148	2,208	2,345	2,407	2,664
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	1,674	1,678	1,596	1,560	1,510	1,576	1,801	1,742	1,938	2,324	3,759	3,628	3,788	3,739	4,204
+ Total Intangible Assets	920	889	847	789	732	860	1,151	1,086	1,057	1,361	2,793	2,703	2,863	2,732	3,100
+ Goodwill	759	764	751	722	686	794	985	942	931	1,136	1,882	1,862	2,014	1,976	2,272
+ Other Intangible Assets	161	125	96	67	46	67	166	144	126	225	911	840	849	755	828
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	754	789	749	771	778	716	650	656	880	963	966	926	925	1,007	1,104
Total Assets	4,973	5,105	4,611	4,357	4,134	4,396	5,137	5,178	5,489	6,084	7,972	7,950	8,210	8,404	8,802
+ Payables & Accruals	1,184	1,329	1,193	1,062	1,364	1,425	1,706	1,436	1,490	1,516	1,849	1,818	1,690	1,862	1,750
+ Accounts Payable	736	804	890	798	815	842	1,007	1,030	1,066	1,051	1,299	1,339	1,277	1,341	1,262
+ Accrued Taxes	- -	- -	- -	- -	45	38	49	58	71	86	75	76	58	75	86
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	447	524	304	264	504	545	650	348	353	379	475	402	356	447	402
+ ST Debt	227	520	77	204	95	579	265	195	440	65	319	599	622	592	523
+ ST Borrowings	227	520	77	204	95	579	265	195	440	65	319	599	622	592	523
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	236	226	284	327	- -	- -	- -	363	323	345	380	383	387	408	380
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	82	65	49	60	45	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	154	160	235	267	-45	- -	- -	363	323	345	380	383	387	408	380
Total Current Liabilities	1,647	2,074	1,554	1,593	1,459	2,004	1,972	1,994	2,254	1,926	2,548	2,800	2,700	2,863	2,654
+ LT Debt	954	702	951	940	964	713	1,316	1,772	1,499	2,052	2,786	2,504	2,622	2,560	3,210
+ LT Borrowings	954	702	951	940	964	713	1,316	1,772	1,499	2,052	2,786	2,504	2,622	2,560	3,210
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	713	748	614	776	745	753	803	457	532	621	713	615	760	669	696
+ Accrued Liabilities	126	140	137	128	108	92	173	122	110	117	238	248	260	235	264
+ Pension Liabilities	587	607	476	648	637	661	629	335	421	504	475	367	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	500	435	432
Total Noncurrent Liabilities	1,667	1,450	1,564	1,716	1,709	1,467	2,119	2,228	2,031	2,673	3,499	3,118	3,382	3,229	3,906
Total Liabilities	3,314	3,524	3,118	3,309	3,168	3,471	4,091	4,222	4,285	4,599	6,047	5,918	6,082	6,092	6,560
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	903	926	936	948	958	976	987	996	998	986	986	1,003	979	965	958
+ Common Stock	124	124	124	124	124	124	124	124	124	124	124	124	124	124	124
+ Additional Paid in Capital	779	802	812	824	834	852	863	872	874	862	862	879	854	841	834
- Treasury Stock	792	978	1,172	1,471	1,587	1,772	1,857	2,224	2,425	2,501	2,660	3,022	3,134	3,348	3,904
+ Retained Earnings	1,810	1,911	2,009	2,116	2,278	2,473	2,597	2,865	2,979	3,349	3,881	4,415	4,692	5,151	5,598
+ Other Equity	-263	-278	-281	-546	-683	-752	-680	-682	-348	-350	-283	-364	-408	-456	-410
Equity Before Minority Interest	1,658	1,581	1,492	1,048	966	926	1,046	955	1,204	1,485	1,924	2,032	2,128	2,312	2,242
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,658	1,581	1,492	1,048	966	926	1,046	955	1,204	1,485	1,924	2,032	2,128	2,312	2,242
Total Liabilities & Equity	4,973	5,105	4,611	4,357	4,134	4,396	5,137	5,178	5,489	6,084	7,972	7,950	8,210	8,404	8,802
Shares Outstanding	106	100	96	90	90	88	88	85	83	83	83	81	80	80	77
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	1,003	987	676	937	900	1,097	1,357	1,734	1,686	1,864	2,942	2,935	3,029	2,823	3,530
Net Debt to Equity	60.49	62.43	45.3	89.45	93.21	118.57	129.74	181.57	140.02	125.56	152.88	144.42	142.36	122.09	157.45
Tangible Common Equity Ratio	18.21	16.4	17.14	7.25	6.87	1.84	-2.64	-3.19	3.31	2.62	-16.77	-12.78	-13.74	-7.39	-15.05
Current Ratio	1.35	1.16	1.35	1.21	1.22	0.95	1.13	1.15	1.04	1.25	1.07	0.99	1.04	1.08	1.13
Cash Conversion Cycle	37.39	32.61	30	29.54	31.49	32.17	34.11	33.94	34.53	38.24	38.14	37.78	39.13	39.67	42.42

Cash Flow Statement (USD)

API ChatGPT

	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	190	215	213	245	274	321	282	467	304	556	740	757	503	705	688
+ Depreciation & Amortization	246	221	205	202	188	180	179	181	179	205	244	291	298	312	328
+ Non-Cash Items	103	119	59	134	135	221	273	201	349	143	87	139	85	125	108
+ Stock-Based Compensation	40	39	34	28	26	27	30	34	34	24	37	47	22	29	28
+ Deferred Income Taxes	- -	- -	- -	- -	- -	52	152	-33	-217	9	3	18	-24	-18	-20
+ Asset Impairment Charge	- -	7	- -	3	- -	-1	- -	7	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	64	73	25	103	109	142	92	193	531	109	47	74	87	115	100
+ Chg in Non-Cash Work Cap	-117	-42	-157	-226	-124	-140	-88	-392	-85	-153	-25	-226	-60	-203	-243
+ (Inc) Dec in Accts Receiv	-44	-107	-136	-65	-136	-88	-141	-62	-42	15	-113	-22	-17	-107	44
+ (Inc) Dec in Inventories	-22	-1	-76	-33	-34	-20	-15	-70	-18	-6	-183	-141	112	-91	53
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-64	142	89	-81	72	64	83	44	46	-68	255	68	-88	107	-144
+ Inc (Dec) in Other	12	-76	-34	-47	-26	-96	-15	-302	-71	-93	16	-132	-68	-112	-196
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	423	513	320	355	474	582	646	458	746	751	1,047	961	826	939	881
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	5	4	39	4	8	8	6	9	8	9	1	2	1	1	23
+ Disp of Fixed Prod Assets	5	4	39	4	8	8	6	9	8	9	1	2	1	1	23
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-136	-158	-181	-175	-152	-207	-226	-257	-257	-219	-272	-298	-285	-240	-200
+ Acq of Fixed Prod Assets	-110	-99	-129	-148	-136	-177	-190	-227	-219	-201	-255	-278	-265	-209	-169
+ Acq of Intangible Assets	-26	-59	-52	-27	-16	-30	-36	-30	-38	-17	-17	-20	-20	-31	-31
+ Cash (Repurchase) of Equity	-14	-235	-284	-356	-232	-262	-130	-393	-238	-104	-181	-380	-138	-248	-572
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-14	-235	-284	-356	-232	-262	-130	-393	-238	-104	-181	-380	-138	-248	-572
+ Net Change in LT Investment	- -	-7	- -	- -	- -	3	-8	18	- -	- -	- -	- -	- -	-10	-20
+ Dec in LT Investment	- -	- -	- -	- -	- -	3	- -	18	- -	- -	- -	- -	- -	24	6
+ Inc in LT Investment	- -	-7	- -	- -	- -	- -	-8	- -	- -	- -	- -	- -	- -	-34	-26
+ Net Cash From Acq & Div	22	1	481	- -	- -	-237	-319	-4	-6	-350	-1,470	-38	-225	-4	-402
+ Cash from Divestitures	22	1	481	- -	- -	- -	- -	- -	- -	- -	8	1	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	-237	-319	-4	-6	-350	-1,478	-40	-225	-4	-402
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	5	- -	1	- -	2	- -	4	- -	5	6	3	2	50	10	4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-104	-160	339	-170	-143	-432	-543	-232	-251	-554	-1,738	-333	-459	-243	-596
+ Dividends Paid	-106	-110	-112	-125	-133	-142	-156	-175	-190	-197	-221	-239	-257	-278	-288
+ Net Cash From Debt	-148	40	-187	125	-106	232	200	409	-24	113	1,038	28	139	231	17
+ Cash From Debt	- -	42	250	126	- -	235	543	493	- -	994	1,051	35	395	539	576
+ Repayments of Debt	-148	-2	-437	-2	-106	-3	-343	-84	-24	-881	-13	-6	-256	-308	-559
+ Other Financing Activities	-4	8	36	32	104	66	1	-50	-19	-20	-32	-25	-62	-282	429
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-272	-298	-546	-324	-367	-106	-84	-208	-470	-208	604	-615	-317	-576	-415
Effect of Foreign Exchange Rates	4	2	3	-5	-12	-7	11	-10	-4	9	-3	-9	-2	-6	3
Net Changes in Cash	47	56	113	-139	-36	44	18	17	25	-11	-87	13	50	120	-130
EBITDA	582	600	668	694	726	794	886	969	1,003	1,068	1,308	1,364	1,262	1,428	1,452
EBITDA Margin (%)	9.96	10.23	10.88	10.96	12.17	13.05	13.39	13.54	14.18	15.32	15.56	15.09	15.09	16.3	16.4
Free Cash Flow	287	355	138	180	322	376	420	201	489	533	775	662	541	699	681
Net Cash Paid for Acquisitions	-22	-1	-481	- -	- -	237	319	4	6	350	1,470	38	225	4	402
Free Cash Flow to Firm	334	403	178	223	363	416	450	251	- -	586	827	726	627	785	782
Free Cash Flow to Equity	170	459	42	336	240	646	661	650	511	672	1,830	714	701	962	752
Free Cash Flow per Basic Share	2.69	3.55	1.44	1.99	3.58	4.25	4.77	2.38	5.87	6.41	9.38	8.2	6.72	8.76	8.86
Price/Free Cash Flow	5.49	5.38	10.03	9.37	9.31	8.08	11.87	11.14	11.08	13.45	13.76	11.81	14.76	12.81	13.16
Cash Flow to Net Income	2.22	2.38	1.5	1.45	1.73	1.82	2.29	0.98	2.46	1.35	1.41	1.27	1.64	1.33	1.28
Capital Expenditures	-136	-158	-181	-175	-152	-207	-226	-257	-257	-219	-272	-298	-285	-240	-200