Bread Financial Holdings, Inc.

BFH

BFHBread Financial Holdings, Inc. US flag

New York Stock Exchange

88.36

USD

-3.19

- -

3.57BMarket Cap

Income Statement (USD)

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	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
Sales/Revenue/Turnover	3,173	3,641	4,319	5,303	6,440	7,138	5,475	5,667	3,348	3,298	3,270	3,870	4,295	3,838	3,845
+ Sales & Services Revenue	3,173	3,641	4,319	5,303	6,440	7,138	5,475	5,667	3,348	3,298	3,270	3,870	4,295	3,838	3,845
- Cost of Revenue	2,110	2,398	2,855	3,479	4,145	4,705	2,925	3,080	3,257	2,571	1,593	- -	- -	- -	- -
+ Cost of Goods & Services	2,110	2,398	2,855	3,479	4,145	4,705	2,925	3,080	3,257	2,571	1,593	- -	- -	- -	- -
Gross Profit	1,063	1,243	1,464	1,824	2,295	2,433	2,550	2,587	2,324	1,950	2,062	- -	- -	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	549	560	671	986	1,299	1,596	1,487	1,372	1,514	1,556	1,018	- -	- -	- -	- -
+ Selling, General & Admin	95	108	109	142	138	143	159	162	926	752	831	959	1,028	1,044	1,030
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	453	452	562	844	1,160	1,453	1,328	1,210	588	804	187	-959	-1,028	-1,044	-1,030
Operating Income (Loss)	514	683	793	838	996	837	1,062	1,215	810	394	1,044	- -	- -	- -	- -
- Non-Operating (Income) Loss	- -	- -	- -	- -	65	- -	- -	- -	148	94	- -	-300	-968	-381	-615
+ Interest Expense, Net	149	173	181	132	180	218	174	156	130	108	- -	- -	- -	- -	- -
+ Interest Expense	149	173	181	132	180	218	174	156	130	108	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-149	-173	-181	-132	-115	-218	-174	-156	18	-15	- -	-300	-968	-381	-615
Pretax Income	514	683	793	838	932	837	1,062	1,215	662	301	1,044	300	968	381	615
- Income Tax Expense (Benefit)	199	261	297	322	326	319	293	270	156	93	247	76	231	102	94
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	315	422	496	516	605	518	769	946	506	208	797	224	737	279	521
- Net Extraordinary Losses (Gains)	- -	- -	- -	20	18	4	-20	-18	228	-6	-4	1	19	2	3
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	20	18	-228	6	4	-1	-19	-2	-3
+ Extraord. & Accounting Changes	- -	- -	- -	20	18	4	-39	-35	456	-12	-8	2	38	4	6
Income (Loss) Incl. MI	315	422	496	496	588	514	789	963	278	214	801	223	718	277	518
- Minority Interest	- -	- -	- -	-10	-9	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	315	422	496	506	596	516	789	963	278	214	801	223	718	277	518
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	3	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	315	422	496	506	596	516	789	963	275	214	801	223	718	277	518
EBIT	514	683	793	838	996	837	1,062	1,215	810	394	1,044	- -	- -	- -	- -
EBITDA	667	850	1,010	1,151	1,488	1,349	1,560	1,702	1,059	578	1,167	113	116	90	80
EBITDA Margin (%)	21.03	23.34	23.37	21.71	23.11	18.9	28.5	30.04	31.64	17.54	35.69	2.92	2.7	2.34	2.08
EBITA	514	683	793	838	996	837	1,062	1,215	810	394	1,044	- -	- -	- -	- -
Gross Margin (%)	33.49	34.14	33.91	34.39	35.64	34.08	46.57	45.66	2.72	22.04	51.28	100	100	100	100
Operating Margin (%)	16.2	18.75	18.37	15.8	15.47	11.73	19.41	21.44	24.2	11.96	31.93	- -	- -	- -	- -
Profit Margin (%)	9.94	11.6	11.49	9.55	9.26	7.23	14.41	17	8.3	6.49	24.5	5.76	16.72	7.22	13.47
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	0.51	2.07	2.28	2.54	1.28	0.85	0.86	0.84	0.87	0.9
Depreciation Expense	153	167	216	313	492	512	498	487	249	184	123	113	116	90	80
Basic Weighted Avg Shares	51	50	49	56	62	59	56	55	50	48	50	50	50	50	47
Basic EPS, GAAP	6.22	8.45	10.08	8.98	9.64	8.8	14.16	17.54	5.5	4.48	16.12	4.47	14.42	5.58	11.07
Basic EPS from Cont Ops	6.22	8.45	10.08	9.15	9.78	8.83	13.81	17.22	10.12	4.35	16.04	4.49	14.8	5.62	11.13
Diluted Weighted Avg Shares	58	64	67	62	62	59	56	55	51	48	50	50	50	50	48
Diluted EPS, GAAP	5.45	6.59	7.42	8.11	9.57	8.76	14.11	17.48	5.41	4.47	16.02	4.46	14.36	5.5	10.88
Diluted EPS from Cont Ops	5.45	6.59	7.42	8.27	9.72	8.79	13.76	17.16	9.94	4.34	15.94	4.48	14.74	5.54	10.95

Balance Sheet (USD)

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	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
Total Current Assets	6,607	9,132	10,401	13,815	16,250	19,589	24,706	24,712	24,113	20,679	19,857	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	216	893	970	1,077	1,168	1,859	4,190	3,817	3,874	3,021	3,221	3,891	3,590	3,679	3,604
+ Cash & Cash Equivalents	216	893	970	1,077	1,168	1,859	4,190	3,817	3,874	2,796	3,046	3,891	3,590	3,679	3,604
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	225	175	- -	- -	- -	- -
+ Accounts & Notes Receiv	5,499	7,338	8,465	11,417	13,764	16,393	18,317	17,221	18,743	114	151	164	144	145	148
+ Accounts Receivable, Net	301	370	395	743	706	797	822	404	451	114	151	164	144	145	148
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	4,941	6,676	7,726	10,251	23,047	26,243	30,880	29,250	31,381	14,776	15,567	- -	- -	- -	- -
+ Other Receivable, Net	257	291	344	423	-9,989	-10,647	-13,385	-12,433	-13,089	-14,776	-15,567	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	228	271	234	248	218	164	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	228	271	234	248	218	164	- -	- -	- -	- -	- -
+ Other ST Assets	892	901	966	1,321	1,090	1,066	1,965	3,426	1,277	17,380	16,485	-4,055	-3,734	-3,824	-3,752
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,373	2,868	2,843	6,449	6,100	5,925	5,979	5,676	2,382	1,868	1,889	- -	- -	- -	- -
+ Property, Plant & Equip, Net	195	253	299	560	577	586	614	288	547	332	312	283	-78	229	180
+ Property, Plant & Equip	598	678	793	1,017	1,159	1,304	1,478	649	928	603	568	570	265	229	180
- Accumulated Depreciation	403	425	494	457	582	718	864	361	381	271	256	287	343	- -	- -
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	225	289	227	253	266	284
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	225	289	227	253	266	284
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,178	2,615	2,544	5,890	5,523	5,339	5,365	5,388	1,836	1,311	1,288	-510	-175	-495	-464
+ Total Intangible Assets	1,833	2,334	2,196	5,381	5,018	4,804	4,681	1,172	1,108	711	687	799	762	746	716
+ Goodwill	1,449	1,751	1,736	3,865	3,814	3,801	3,880	955	955	634	634	634	634	634	634
+ Other Intangible Assets	384	583	460	1,516	1,204	1,003	801	217	153	77	53	165	128	112	82
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	345	281	348	508	505	535	685	4,216	727	600	601	-1,309	-937	-1,241	-1,180
Total Assets	8,980	12,000	13,244	20,264	22,350	25,514	30,685	30,388	26,495	22,547	21,746	25,407	23,141	22,891	22,663
+ Payables & Accruals	356	490	472	913	1,009	915	1,094	808	629	1,085	918	1,010	981	871	768
+ Accounts Payable	150	215	210	456	442	568	651	486	301	354	291	398	422	326	289
+ Accrued Taxes	30	48	18	34	103	25	65	23	18	347	313	306	286	250	189
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	176	226	244	423	464	322	378	300	310	384	314	306	273	295	290
+ ST Debt	20	2,277	1,389	1,267	1,419	2,454	1,471	2,856	23	- -	- -	- -	- -	- -	- -
+ ST Borrowings	20	2,277	1,389	1,267	1,419	2,454	1,471	2,856	3,132	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	23	24	- -	- -	- -	- -	- -
+ Other ST Liabilities	3,479	2,265	2,651	4,125	3,976	5,861	7,582	7,819	11,221	10,905	10,850	-1,010	-981	-871	-768
+ Deferred Revenue	1,036	1,055	966	846	699	788	847	766	808	898	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2,443	1,210	1,684	3,278	3,275	5,073	6,735	7,053	10,413	10,006	10,850	-1,010	-981	-871	-768
Total Current Liabilities	3,855	5,033	4,512	6,305	6,403	9,230	10,147	11,484	11,872	11,990	11,768	- -	- -	- -	- -
+ LT Debt	2,164	4,708	6,003	8,134	10,081	10,103	13,416	10,521	7,293	8,676	7,579	8,133	5,440	5,685	4,393
+ LT Borrowings	2,164	4,708	6,003	8,134	10,081	10,103	13,416	10,521	7,002	8,504	7,439	8,007	5,292	5,557	4,308
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	292	172	140	126	148	128	85
+ Other LT Liabilities	2,785	1,730	1,873	3,192	3,688	4,523	5,267	6,051	5,741	359	313	-8,133	-5,440	-5,685	-4,393
+ Accrued Liabilities	342	471	447	857	777	478	332	366	194	347	313	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2,444	1,259	1,427	2,335	2,911	4,045	4,936	5,685	5,547	12	- -	-8,133	-5,440	-5,685	-4,393
Total Noncurrent Liabilities	4,949	6,439	7,876	11,327	13,769	14,626	18,683	16,572	13,034	9,035	7,892	- -	- -	- -	- -
Total Liabilities	8,804	11,472	12,388	17,632	20,172	23,856	28,830	28,056	24,906	21,025	19,660	23,142	20,223	19,840	19,336
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1,389	1,455	1,514	2,907	2,982	3,047	3,101	3,174	3,259	3,428	2,175	2,193	2,170	2,074	1,868
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	- -
+ Additional Paid in Capital	1,388	1,454	1,513	2,906	2,981	3,046	3,100	3,172	3,258	3,427	2,174	2,192	2,169	2,073	1,868
- Treasury Stock	2,321	2,458	2,689	2,976	3,927	4,733	5,272	5,716	6,734	6,733	- -	- -	- -	- -	- -
+ Retained Earnings	1,131	1,553	2,049	2,541	3,092	3,495	4,167	5,012	5,163	4,832	-87	93	767	999	1,475
+ Other Equity	-23	-22	-18	-75	-137	-151	-140	-138	-100	-5	-2	-21	-19	-22	-16
Equity Before Minority Interest	176	528	856	2,396	2,010	1,658	1,855	2,332	1,588	1,522	2,086	2,265	2,918	3,051	3,327
+ Minority/Non Controlling Interest	- -	- -	- -	236	167	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	176	528	856	2,632	2,177	1,658	1,855	2,332	1,588	1,522	2,086	2,265	2,918	3,051	3,327
Total Liabilities & Equity	8,980	12,000	13,244	20,264	22,350	25,514	30,685	30,388	26,495	22,547	21,746	25,407	23,141	22,891	22,663
Shares Outstanding	50	50	52	64	61	57	55	53	48	50	50	50	49	49	44
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	314	196	140	126	148	128	85
Net Debt	1,967	6,092	6,422	8,324	10,332	10,698	10,697	9,560	6,260	5,708	4,393	4,116	1,702	1,878	704
Net Debt to Equity	1,117.98	1,152.81	750.49	316.27	474.52	645.13	576.56	409.92	394.1	375.03	210.59	181.72	58.33	61.55	21.16
Tangible Common Equity Ratio	-23.18	-18.68	-12.13	-18.47	-16.39	-15.19	-10.87	3.97	1.89	3.71	6.64	5.96	9.63	10.41	11.9
Current Ratio	1.71	1.81	2.3	2.19	2.54	2.12	2.43	2.15	2.03	1.72	1.69	- -	- -	- -	- -
Cash Conversion Cycle	8.82	5.83	5.12	4.25	13.64	18.97	8.45	0.96	28.21	10.94	-48.78	- -	- -	- -	- -

Cash Flow Statement (USD)

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	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
+ Net Income	315	422	496	516	605	518	789	963	278	214	801	223	718	277	518
+ Depreciation & Amortization	153	167	216	313	492	512	498	487	249	184	123	113	116	90	80
+ Non-Cash Items	439	507	468	612	714	1,445	1,228	1,489	953	1,202	660	1,559	1,125	1,559	1,533
+ Stock-Based Compensation	43	50	59	72	91	76	75	81	55	21	29	33	44	54	56
+ Deferred Income Taxes	47	102	43	-13	-121	-31	-114	16	-186	-223	-15	-245	-68	-85	90
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	52	64	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	348	354	366	553	744	1,399	1,267	1,392	1,032	1,340	646	1,771	1,149	1,590	1,387
+ Chg in Non-Cash Work Cap	104	38	-177	-97	-52	-348	84	-184	-262	283	-41	-47	28	-67	-39
+ (Inc) Dec in Accts Receiv	-32	-49	-33	-156	8	-96	-10	-93	4	65	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	54	115	-28	126	121	-10	167	-94	-255	62	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	83	-28	-115	-67	-182	-242	-73	2	-11	156	-41	-47	28	-67	-39
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	1,011	1,134	1,003	1,344	1,760	2,127	2,599	2,755	1,218	1,883	1,543	1,848	1,987	1,859	2,092
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-211	-105	-217	-270	-934	-780	-535	-426	-964	3	4	-12	-35	-55	-313
+ Increase in Capital Stock	29	21	14	17	18	18	18	18	12	3	4	- -	- -	- -	- -
+ Decrease in Capital Stock	-241	-126	-231	-287	-952	-799	-554	-443	-976	- -	- -	-12	-35	-55	-313
+ Net Change in LT Investment	-33	-18	-32	-118	-27	21	-59	-42	40	37	-20	-13	-36	-17	-2
+ Dec in LT Investment	- -	16	3	7	12	39	42	47	60	77	73	30	14	14	20
+ Inc in LT Investment	-33	-34	-35	-126	-39	-18	-101	-90	-20	-40	-93	-43	-50	-31	-22
+ Net Cash From Acq & Div	-359	-464	- -	-1,196	-18	- -	-946	- -	4,403	-240	-75	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	27	- -	- -	- -	4,410	27	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-359	-464	- -	-1,196	-45	- -	-946	- -	-7	-267	-75	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-649	-2,189	-1,587	-3,423	-3,317	-4,312	-3,264	-1,830	-1,582	1,977	-1,596	-5,098	824	-1,152	-1,369
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-1,041	-2,671	-1,619	-4,737	-3,363	-4,292	-4,268	-1,872	2,861	1,774	-1,691	-5,111	788	-1,169	-1,371
+ Dividends Paid	- -	- -	- -	- -	- -	-30	-116	-125	-127	-61	-42	-43	-42	-43	-42
+ Net Cash From Debt	-556	1,460	341	1,851	2,160	1,075	2,208	-610	-3,238	-1,721	-434	560	-2,696	69	-1,317
+ Cash From Debt	7,616	3,639	5,310	7,621	7,762	8,228	12,869	9,154	7,963	3,695	4,968	4,466	3,993	2,690	1,825
+ Repayments of Debt	-8,172	-2,179	-4,969	-5,770	-5,602	-7,153	-10,662	-9,764	-11,201	-5,416	-5,402	-3,906	-6,689	-2,621	-3,142
+ Other Financing Activities	877	855	580	1,935	492	2,372	2,448	-57	237	-2,388	1,080	2,762	-313	-563	865
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	109	2,209	704	3,516	1,719	2,637	4,005	-1,218	-4,092	-4,167	608	3,267	-3,086	-592	-807
Effect of Foreign Exchange Rates	-3	5	-12	-16	-25	14	10	-12	3	15	- -	- -	- -	- -	- -
Net Changes in Cash	80	672	88	123	116	473	2,336	-335	-13	-510	460	4	-311	98	-86
EBITDA	667	850	1,010	1,151	1,488	1,349	1,560	1,702	1,059	578	1,167	113	116	90	80
EBITDA Margin (%)	21.03	23.34	23.37	21.71	23.11	18.9	28.5	30.04	31.64	17.54	35.69	2.92	2.7	2.34	2.08
Free Cash Flow	1,011	1,134	1,003	1,344	1,760	2,127	2,599	2,755	1,218	1,883	1,543	1,848	1,987	1,859	2,092
Net Cash Paid for Acquisitions	359	464	- -	1,196	18	- -	946	- -	-4,403	240	75	- -	- -	- -	- -
Free Cash Flow to Firm	1,103	1,241	1,117	1,425	1,876	2,262	2,725	2,877	1,317	1,958	1,543	1,848	1,987	1,859	2,092
Free Cash Flow to Equity	455	2,594	1,344	3,195	3,920	3,202	4,807	2,145	-2,023	162	1,109	2,408	-709	1,928	775
Free Cash Flow per Basic Share	19.95	22.68	20.4	23.83	28.43	36.3	46.66	50.18	24.36	39.39	31.05	37.03	39.9	37.48	44.7
Price/Free Cash Flow	4.73	6.53	13.98	10.59	7.81	5.05	4.35	2.39	3.74	1.5	2.16	1.02	0.83	1.66	1.68
Cash Flow to Net Income	3.21	2.69	2.02	2.65	2.95	4.12	3.3	2.86	4.38	8.8	1.93	8.29	2.77	6.71	4.04
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -