Berkshire Hills Bancorp, Inc.

BHLB

BHLBBerkshire Hills Bancorp, Inc. US flag

New York Stock Exchange

26.13

USD

-0.17

- -

1.21BMarket Cap

Income Statement (USD)

API Chat

	2010 Y	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
Sales/Revenue/Turnover	107	142	197	227	226	268	297	365	430	448	382	381	414	412	384
+ Sales & Services Revenue	107	142	197	227	226	268	297	365	430	448	382	381	414	412	384
- Cost of Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cost of Goods & Services	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Profit	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Selling, General & Admin	57	62	79	90	103	122	133	157	172	176	157	157	161	172	172
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	-57	-62	-79	-90	-103	-122	-133	-157	-172	-176	-157	-157	-161	-172	-172
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Non-Operating (Income) Loss	-16	-18	-47	-58	-46	-55	-77	-91	-138	-124	533	-149	-114	-78	-80
+ Interest Expense, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-16	-18	-47	-58	-46	-55	-77	-91	-138	-124	533	-149	-114	-78	-80
Pretax Income	16	18	47	58	46	55	77	91	138	124	-533	149	114	78	80
- Income Tax Expense (Benefit)	3	2	13	17	12	5	19	42	29	22	-20	30	21	9	19
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	14	16	34	41	34	50	59	49	109	102	-513	119	93	70	61
- Net Extraordinary Losses (Gains)	- -	-1	1	- -	- -	- -	- -	-6	3	4	20	- -	- -	- -	- -
+ Discontinued Operations	- -	1	-1	- -	- -	- -	- -	6	-3	-4	-20	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	-2	1	- -	- -	- -	- -	-12	7	8	40	- -	- -	- -	- -
Income (Loss) Incl. MI	14	17	33	41	34	50	59	55	106	97	-533	119	93	70	61
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	14	17	33	41	34	50	59	55	106	97	-533	119	93	70	61
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	14	17	33	41	34	50	59	55	105	96	-533	119	93	70	61
EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	7	9	11	12	13	12	11	13	15	17	18	16	15	13	12
EBITDA Margin (%)	6.41	6.5	5.77	5.46	5.79	4.53	3.81	3.56	3.58	3.73	4.74	4.26	3.56	3.22	3.02
EBITA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	12.99	12.19	16.81	18.13	14.9	18.47	19.75	15.14	24.59	21.76	-139.59	31.11	22.38	16.9	15.9
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.65	0.67	0.7	0.73	0.73	0.77	0.8	0.85	0.89	0.92	0.73	0.5	0.54	0.73	0.73
Depreciation Expense	7	9	11	12	13	12	11	13	15	17	18	16	15	13	12
Basic Weighted Avg Shares	14	18	22	25	25	28	31	39	46	49	50	49	46	43	43
Basic EPS, GAAP	1	0.97	1.49	1.66	1.36	1.74	1.89	1.4	2.28	1.96	-10.61	2.41	2.03	1.61	1.44
Basic EPS from Cont Ops	1	0.92	1.52	1.66	1.36	1.74	1.89	1.25	2.37	2.06	-10.21	2.41	2.03	1.61	1.44
Diluted Weighted Avg Shares	14	18	22	25	25	29	31	40	46	49	50	50	46	44	43
Diluted EPS, GAAP	1	0.97	1.49	1.65	1.36	1.73	1.88	1.39	2.27	1.95	-10.61	2.39	2.02	1.6	1.43
Diluted EPS from Cont Ops	1	0.92	1.51	1.65	1.36	1.73	1.88	1.24	2.36	2.05	-10.21	2.39	2.02	1.6	1.43

Balance Sheet (USD)

API Chat

	2010 Y	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
Total Current Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash, Cash Equivalents & STI	44	495	564	836	1,164	1,258	1,323	1,630	1,583	1,891	3,253	3,505	2,109	2,226	1,688
+ Cash & Cash Equivalents	44	75	98	76	72	104	113	249	183	580	1,558	1,628	685	1,203	1,128
+ ST Investments	- -	420	466	760	1,092	1,154	1,210	1,381	1,400	1,312	1,695	1,878	1,423	1,022	559
+ Accounts & Notes Receiv	- -	- -	28	20	22	28	45	67	61	60	88	64	81	87	86
+ Accounts Receivable, Net	- -	- -	15	15	17	21	26	34	37	36	47	34	47	53	49
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	14	5	5	7	19	33	24	24	41	31	34	34	37
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	-44	-495	-593	-856	-1,186	-1,286	-1,368	-1,697	-1,644	-1,952	-3,341	-3,570	-2,190	-2,312	-1,774
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	39	61	86	84	87	88	93	109	106	197	173	147	132	116	107
+ Property, Plant & Equip	67	94	105	109	120	129	143	169	175	276	259	235	227	214	199
- Accumulated Depreciation	29	34	19	25	32	41	49	59	68	79	87	89	95	97	92
+ LT Investments & Receivables	383	496	534	820	1,150	1,300	1,557	1,835	1,841	1,722	2,188	2,538	2,026	1,601	1,205
+ LT Investments	383	496	534	820	1,150	1,300	1,557	1,835	1,841	1,722	2,188	2,538	2,026	1,601	1,205
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	-421	-557	-621	-904	-1,237	-1,388	-1,650	-1,945	-1,948	-1,919	-2,361	-2,684	-2,158	-1,718	-1,312
+ Total Intangible Assets	173	223	277	275	280	340	434	574	575	626	51	46	38	32	27
+ Goodwill	162	202	255	257	265	324	403	519	518	554	- -	- -	- -	- -	- -
+ Other Intangible Assets	11	21	22	18	15	16	31	55	57	72	51	46	38	32	27
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-594	-780	-898	-1,179	-1,517	-1,728	-2,084	-2,519	-2,523	-2,544	-2,412	-2,730	-2,195	-1,749	-1,338
Total Assets	2,881	3,992	5,297	5,673	6,502	7,831	9,163	11,571	12,212	13,216	12,838	11,555	11,663	12,431	12,273
+ Payables & Accruals	- -	- -	- -	- -	22	- -	34	77	18	12	4	1	2	14	9
+ Accounts Payable	- -	- -	- -	- -	- -	- -	4	7	12	12	4	1	2	14	9
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	- -	- -	- -	22	- -	29	71	6	- -	- -	- -	- -	- -	- -
+ ST Debt	47	10	163	873	901	1,071	1,082	667	1,119	125	40	- -	- -	260	104
+ ST Borrowings	47	10	163	873	901	1,071	1,082	667	1,119	125	40	- -	- -	260	104
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	-47	-10	-163	-873	-923	-1,071	-1,116	-745	-1,136	-137	-44	-1	-2	-274	-113
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-47	-10	-163	-873	-923	-1,071	-1,116	-745	-1,136	-137	-44	-1	-2	-274	-113
Total Current Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Debt	213	227	298	204	164	204	244	481	416	794	606	176	189	308	391
+ LT Borrowings	213	227	285	192	151	192	232	470	399	703	532	111	126	247	335
+ LT Finance Leases	- -	- -	13	12	12	12	12	11	17	92	74	66	63	62	57
+ Other LT Liabilities	-213	-227	-298	-204	-164	-204	-244	-481	-416	-794	-606	-176	-189	-308	-391
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	-213	-227	-298	-204	-164	-204	-244	-481	-416	-794	-606	-176	-189	-308	-391
Total Noncurrent Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Liabilities	2,493	3,440	4,630	4,995	5,793	6,944	8,069	10,074	10,659	11,457	11,650	10,372	10,709	11,419	11,106
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	41	41	41	- -	- -	- -	- -	- -
+ Share Capital & APIC	338	495	586	588	586	743	899	1,243	1,245	1,423	1,428	1,424	1,425	1,424	1,431
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	1	1	1
+ Additional Paid in Capital	338	494	585	587	585	743	899	1,242	1,245	1,422	1,427	1,423	1,424	1,423	1,431
- Treasury Stock	45	43	34	37	33	29	27	24	22	70	31	90	210	225	144
+ Retained Earnings	104	108	122	142	156	184	217	239	309	361	-233	-139	-71	-33	-3
+ Other Equity	-8	-5	-3	-9	7	-3	10	4	-13	12	31	-3	-181	-143	-106
Equity Before Minority Interest	389	552	667	678	709	887	1,093	1,496	1,553	1,759	1,188	1,182	954	1,012	1,167
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	389	552	667	678	709	887	1,093	1,496	1,553	1,759	1,188	1,182	954	1,012	1,167
Total Liabilities & Equity	2,881	3,992	5,297	5,673	6,502	7,831	9,163	11,571	12,212	13,216	12,838	11,555	11,663	12,431	12,273
Shares Outstanding	14	21	25	25	25	31	36	45	45	50	51	49	44	44	46
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	13	12	12	12	12	11	17	92	74	66	63	62	57
Net Debt	216	162	350	989	981	1,160	1,201	888	1,335	248	-986	-1,517	-560	-697	-690
Net Debt to Equity	55.62	29.37	52.43	145.79	138.25	130.72	109.84	59.37	85.94	14.09	-83.03	-128.29	-58.68	-68.82	-59.13
Tangible Common Equity Ratio	7.96	8.71	7.77	7.47	6.9	7.31	7.55	8.02	8.05	8.67	8.89	9.88	7.88	7.91	9.31
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2010 Y	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
+ Net Income	14	17	33	41	34	50	59	49	109	102	-513	119	93	70	61
+ Depreciation & Amortization	7	9	11	12	13	12	11	13	15	17	18	16	15	13	12
+ Non-Cash Items	11	3	-36	51	11	20	25	33	12	36	650	-68	16	60	50
+ Stock-Based Compensation	2	1	2	3	4	5	5	5	5	5	5	4	7	7	8
+ Deferred Income Taxes	-5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	554	- -	- -	- -	- -
+ Other Non-Cash Adj	14	-1	-38	48	7	15	20	28	7	31	92	-73	8	52	41
+ Chg in Non-Cash Work Cap	9	11	20	22	-2	4	3	14	31	-23	-31	18	-12	14	3
+ (Inc) Dec in Accts Receiv	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	9	11	20	22	-2	4	3	14	31	-23	-31	18	-12	14	3
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	-31	55	-19	104	- -	- -	- -	- -
Cash from Operating Activities	41	40	29	127	56	86	98	78	222	112	228	85	111	157	125
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	1	- -	- -	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	1	- -	- -	2	2	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-5	-8	-19	-13	-8	-7	-9	-11	-9	-11	-7	-2	-1	-2	-5
+ Acq of Fixed Prod Assets	-5	-8	-19	-13	-8	-7	-9	-11	-9	-11	-7	-2	-1	-2	-5
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	1	- -	3	-12	-2	-1	- -	153	- -	-53	- -	-69	-125	-24	82
+ Increase in Capital Stock	1	- -	3	- -	- -	- -	- -	153	- -	- -	- -	- -	- -	- -	100
+ Decrease in Capital Stock	- -	- -	- -	-12	-2	-1	- -	- -	- -	-53	- -	-69	-125	-24	-18
+ Net Change in LT Investment	5	-74	73	-304	-299	-113	190	-167	-33	287	-458	-402	257	447	400
+ Dec in LT Investment	144	141	219	143	280	235	597	409	264	442	597	625	751	509	500
+ Inc in LT Investment	-139	-215	-146	-447	-579	-348	-407	-576	-297	-155	-1,055	-1,027	-494	-61	-101
+ Net Cash From Acq & Div	- -	179	- -	- -	- -	- -	- -	- -	- -	111	- -	-353	- -	- -	-315
+ Cash from Divestitures	- -	179	- -	- -	- -	- -	- -	- -	- -	111	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-353	- -	- -	-315
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-192	-132	-310	-198	-64	-337	-388	-105	-819	815	1,106	1,377	-1,516	-730	-398
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-192	-34	-256	-515	-369	-454	-208	-283	-862	1,203	641	621	-1,261	-284	-317
+ Dividends Paid	-9	-12	-16	-18	-18	-22	-25	-33	-41	-45	-37	-25	-25	-32	-31
+ Net Cash From Debt	-46	-171	94	616	-12	-54	-1	-196	381	-844	-256	-462	14	381	-69
+ Cash From Debt	260	125	560	1,488	5,432	8,566	9,365	5,978	4,768	5,385	326	- -	149	10,451	1,208
+ Repayments of Debt	-306	-296	-466	-872	-5,444	-8,620	-9,365	-6,175	-4,387	-6,229	-583	-462	-135	-10,070	-1,277
+ Other Financing Activities	218	208	168	-221	342	476	144	417	234	24	403	-81	343	320	134
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	163	26	249	365	310	400	119	340	574	-917	109	-636	208	645	117
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	12	32	22	-23	-4	32	10	136	-66	397	978	70	-942	518	-75
EBITDA	7	9	11	12	13	12	11	13	15	17	18	16	15	13	12
EBITDA Margin (%)	6.41	6.5	5.77	5.46	5.79	4.53	3.81	3.56	3.58	3.73	4.74	4.26	3.56	3.22	3.02
Free Cash Flow	36	32	10	114	47	79	89	67	213	101	220	83	109	155	121
Net Cash Paid for Acquisitions	- -	-179	- -	- -	- -	- -	- -	- -	- -	-111	- -	353	- -	- -	315
Free Cash Flow to Firm	36	32	10	114	47	79	89	67	213	101	- -	83	109	155	121
Free Cash Flow to Equity	-11	-138	104	730	38	27	89	-89	593	-744	-77	-379	123	536	52
Free Cash Flow per Basic Share	2.57	1.8	0.44	4.61	1.92	2.78	2.87	1.7	4.63	2.05	4.38	1.69	2.4	3.59	2.84
Price/Free Cash Flow	4.53	5.75	8.03	3.57	7.83	6.93	8.61	13.34	4.53	11.55	3.34	15.14	11.57	6.64	9.37
Cash Flow to Net Income	2.94	2.32	0.86	3.1	1.65	1.74	1.67	1.41	2.1	1.14	-0.43	0.71	1.2	2.26	2.05
Capital Expenditures	-5	-8	-19	-13	-8	-7	-9	-11	-9	-11	-7	-2	-1	-2	-5