CDW Corporation

CDW

CDWCDW Corporation US flag

NASDAQ Global Select

132.19

USD

+3.06

- -

16.89BMarket 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	9,602	10,128	10,769	12,074	12,989	13,673	14,833	16,240	18,032	18,468	20,821	23,749	21,376	20,999	22,424
+ Sales & Services Revenue	9,602	10,128	10,769	12,074	12,989	13,673	14,833	16,240	18,032	18,468	20,821	23,749	21,376	20,999	22,424
- Cost of Revenue	8,019	8,459	9,008	10,153	10,873	11,344	12,383	13,534	14,992	15,257	17,252	19,062	16,724	16,396	17,551
+ Cost of Goods & Services	8,019	8,459	9,008	10,153	10,873	11,344	12,383	13,534	14,992	15,257	17,252	19,062	16,724	16,396	17,551
Gross Profit	1,584	1,670	1,760	1,921	2,116	2,328	2,450	2,707	3,040	3,210	3,568	4,687	4,652	4,602	4,873
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,113	1,159	1,252	1,248	1,374	1,508	1,584	1,720	1,906	2,031	2,150	2,951	2,972	2,951	3,218
+ Selling, General & Admin	1,113	1,159	1,252	1,248	1,374	1,508	1,584	1,720	1,906	2,031	2,150	2,951	2,972	2,951	3,218
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	471	511	509	673	742	820	866	987	1,134	1,179	1,419	1,735	1,681	1,651	1,656
- Non-Operating (Income) Loss	442	324	313	285	95	147	206	147	184	177	121	247	231	216	228
+ Interest Expense, Net	324	307	250	197	160	146	150	149	159	155	151	236	227	214	227
+ Interest Expense	324	307	250	197	160	146	150	149	159	155	151	236	227	214	227
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	118	17	63	88	-64	- -	55	-2	24	22	-30	12	4	1	1
Pretax Income	28	186	196	388	647	673	661	840	950	1,002	1,298	1,488	1,450	1,435	1,427
- Income Tax Expense (Benefit)	11	67	63	143	244	248	138	198	213	214	309	373	346	358	361
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	17	119	133	245	403	425	523	643	737	788	989	1,114	1,104	1,078	1,067
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	17	119	133	245	403	425	523	643	737	788	989	1,114	1,104	1,078	1,067
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	17	119	133	245	403	425	523	643	737	788	989	1,114	1,104	1,078	1,067
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	17	119	133	245	403	425	523	643	737	788	989	1,114	1,104	1,078	1,067
EBIT	471	511	509	673	742	820	866	987	1,134	1,179	1,419	1,735	1,681	1,651	1,656
EBITDA	676	721	717	881	969	1,074	1,127	1,253	1,401	1,605	1,610	2,026	1,952	1,927	1,951
EBITDA Margin (%)	7.04	7.12	6.66	7.3	7.46	7.86	7.6	7.71	7.77	8.69	7.73	8.53	9.13	9.17	8.7
EBITA	471	511	509	673	742	820	866	987	1,134	1,179	1,419	1,735	1,681	1,651	1,656
Gross Margin (%)	16.49	16.48	16.35	15.91	16.29	17.03	16.52	16.67	16.86	17.38	17.14	19.73	21.76	21.92	21.73
Operating Margin (%)	4.9	5.04	4.72	5.57	5.71	6	5.84	6.08	6.29	6.39	6.82	7.31	7.86	7.86	7.38
Profit Margin (%)	0.18	1.17	1.23	2.03	3.1	3.11	3.53	3.96	4.09	4.27	4.75	4.69	5.17	5.13	4.76
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	0.05	0.2	0.31	0.48	0.69	0.92	1.26	1.54	1.7	2.09	2.39	2.48	2.5
Depreciation Expense	205	210	208	208	227	254	261	266	267	426	191	291	271	275	296
Basic Weighted Avg Shares	145	145	157	171	170	164	155	151	145	143	138	135	135	134	131
Basic EPS, GAAP	0.12	0.82	0.85	1.44	2.37	2.6	3.37	4.26	5.08	5.53	7.14	8.24	8.2	8.06	8.12
Basic EPS from Cont Ops	0.12	0.82	0.85	1.44	2.37	2.6	3.37	4.26	5.08	5.53	7.14	8.24	8.2	8.06	8.12
Diluted Weighted Avg Shares	145	146	159	173	172	166	158	154	148	145	140	137	136	135	132
Diluted EPS, GAAP	0.12	0.82	0.84	1.42	2.35	2.56	3.31	4.19	4.99	5.45	7.04	8.14	8.1	7.97	8.07
Diluted EPS from Cont Ops	0.12	0.82	0.84	1.42	2.35	2.56	3.31	4.19	4.99	5.45	7.04	8.14	8.1	7.97	8.07

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	1,898	1,835	2,214	2,453	2,791	3,238	3,396	3,797	4,334	5,954	6,478	6,564	6,705	7,373	8,500
+ Cash, Cash Equivalents & STI	100	38	188	344	38	264	144	206	154	1,410	258	315	589	718	619
+ Cash & Cash Equivalents	100	38	188	344	38	264	144	206	154	1,410	258	315	589	504	619
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	214	- -
+ Accounts & Notes Receiv	1,417	1,434	1,597	1,717	2,216	2,404	2,672	2,988	3,397	3,592	4,935	4,950	5,038	5,646	6,866
+ Accounts Receivable, Net	1,273	1,285	1,451	1,561	2,017	2,169	2,329	2,671	3,002	3,213	4,499	4,461	4,568	5,136	6,312
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	144	148	146	156	198	235	343	316	395	380	436	489	470	510	554
+ Inventories	322	315	382	338	393	452	412	454	611	760	928	800	668	605	563
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	322	315	382	338	393	452	412	454	611	760	928	800	668	605	563
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	59	49	46	55	144	119	168	149	172	191	358	498	410	404	452
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	4,070	3,885	3,711	3,622	3,964	3,710	3,570	3,371	3,665	3,391	6,721	6,568	6,580	7,305	7,528
+ Property, Plant & Equip, Net	154	143	131	137	175	164	161	156	495	306	351	338	324	312	308
+ Property, Plant & Equip	294	303	310	310	374	348	363	372	752	550	617	648	633	633	612
- Accumulated Depreciation	140	160	179	172	199	184	202	216	257	244	266	310	309	320	303
+ LT Investments & Receivables	- -	- -	- -	87	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	87	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	3,916	3,743	3,580	3,399	3,789	3,547	3,409	3,215	3,170	3,085	6,370	6,230	6,255	6,993	7,220
+ Total Intangible Assets	3,844	3,688	3,548	3,386	3,777	3,511	3,377	3,175	3,147	3,041	6,011	5,833	5,783	5,977	5,849
+ Goodwill	2,208	2,209	2,220	2,218	2,500	2,455	2,480	2,463	2,553	2,596	4,383	4,343	4,413	4,620	4,662
+ Other Intangible Assets	1,636	1,478	1,328	1,169	1,276	1,056	897	712	594	445	1,628	1,491	1,370	1,357	1,186
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	72	55	32	12	12	36	33	40	23	44	359	396	472	1,016	1,371
Total Assets	5,968	5,720	5,925	6,076	6,755	6,948	6,967	7,168	7,999	9,345	13,199	13,132	13,285	14,678	16,028
+ Payables & Accruals	913	875	1,020	1,127	1,422	1,775	1,965	2,181	2,122	2,400	3,464	3,544	3,484	3,936	4,832
+ Accounts Payable	518	519	663	704	866	1,073	1,318	1,577	1,835	2,088	3,114	2,821	2,881	3,381	4,220
+ Accrued Taxes	23	23	36	29	38	41	60	56	89	104	66	74	52	62	83
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	372	334	322	394	517	661	587	548	199	208	284	650	551	493	529
+ ST Debt	201	40	45	15	27	18	26	25	413	541	413	56	613	236	1,008
+ ST Borrowings	201	40	45	15	27	18	26	25	413	541	413	56	613	236	1,008
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	245	253	337	325	438	487	532	597	956	957	1,219	1,346	1,345	1,303	1,387
+ Deferred Revenue	46	58	95	81	152	173	159	178	252	244	403	486	487	491	534
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	199	195	242	244	287	315	373	418	704	713	816	861	857	812	853
Total Current Liabilities	1,359	1,168	1,403	1,468	1,887	2,281	2,522	2,803	3,491	3,898	5,096	4,947	5,442	5,474	7,226
+ LT Debt	3,865	3,731	3,206	3,151	3,232	3,216	3,210	3,183	3,414	4,025	6,940	6,042	5,196	5,756	4,780
+ LT Borrowings	3,865	3,731	3,206	3,151	3,232	3,216	3,210	3,183	3,283	3,856	6,756	5,866	5,032	5,607	4,622
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	131	169	184	175	164	149	158
+ Other LT Liabilities	751	684	604	521	540	406	249	206	133	124	458	540	604	1,095	1,416
+ Accrued Liabilities	692	624	564	475	470	369	196	142	62	55	222	203	171	167	172
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	59	60	41	46	70	37	53	64	71	69	235	336	433	928	1,244
Total Noncurrent Liabilities	4,616	4,415	3,810	3,671	3,772	3,622	3,459	3,389	3,548	4,149	7,398	6,581	5,800	6,851	6,196
Total Liabilities	5,975	5,584	5,213	5,139	5,659	5,903	5,981	6,192	7,039	8,048	12,494	11,528	11,242	12,326	13,422
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	2,186	2,209	2,690	2,714	2,809	2,859	2,913	2,998	3,097	3,206	3,371	3,520	3,693	3,836	3,980
+ Common Stock	1	1	2	2	2	2	2	2	1	1	1	1	1	1	1
+ Additional Paid in Capital	2,185	2,208	2,688	2,712	2,807	2,857	2,912	2,997	3,095	3,205	3,370	3,518	3,691	3,834	3,978
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-2,191	-2,073	-1,972	-1,760	-1,652	-1,674	-1,832	-1,893	-2,019	-1,813	-2,571	-1,764	-1,526	-1,323	-1,274
+ Other Equity	-2	- -	-6	-17	-61	-140	-96	-131	-118	-96	-94	-152	-125	-160	-100
Equity Before Minority Interest	-7	136	712	936	1,096	1,046	986	975	960	1,297	706	1,603	2,042	2,353	2,606
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-7	136	712	936	1,096	1,046	986	975	960	1,297	706	1,603	2,042	2,353	2,606
Total Liabilities & Equity	5,968	5,720	5,925	6,076	6,755	6,948	6,967	7,168	7,999	9,345	13,199	13,132	13,285	14,678	16,028
Shares Outstanding	- -	145	172	172	168	160	153	148	143	142	135	136	134	133	129
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	131	169	184	175	164	149	158
Net Debt	3,966	3,733	3,063	2,822	3,222	2,971	3,091	3,003	3,542	2,987	6,910	5,608	5,056	5,339	5,011
Net Debt to Equity	-54,330.14	2,734.87	430.39	301.28	294.01	284.14	313.65	307.92	368.88	230.29	979.24	349.75	247.55	226.94	192.28
Tangible Common Equity Ratio	-181.4	-174.75	-119.37	-91.09	-90.01	-71.71	-66.6	-55.1	-45.07	-27.66	-73.8	-57.96	-49.86	-41.65	-31.85
Current Ratio	1.4	1.57	1.58	1.67	1.48	1.42	1.35	1.35	1.24	1.53	1.27	1.33	1.23	1.35	1.18
Cash Conversion Cycle	35	37.44	36.72	33.78	36.32	38.43	32.72	28.95	29.28	31.34	30.94	28.19	30.38	28.53	26.09

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	17	119	133	245	403	425	523	643	737	788	989	1,114	1,104	1,078	1,067
+ Depreciation & Amortization	205	210	208	208	227	254	261	266	267	426	191	291	271	275	296
+ Non-Cash Items	151	-2	72	24	-77	-52	-67	-4	-10	95	36	97	105	87	129
+ Stock-Based Compensation	20	22	47	16	31	39	44	41	48	42	73	91	94	65	84
+ Deferred Income Taxes	-10	-56	-49	-89	-54	-97	-173	-56	-88	-20	-7	-18	-33	-14	1
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	142	32	74	97	-54	6	62	11	29	73	-30	24	44	36	44
+ Chg in Non-Cash Work Cap	-158	-9	-47	-42	-276	-24	60	2	34	5	-432	-167	119	-163	-286
+ (Inc) Dec in Accts Receiv	-183	-10	-171	-118	-343	-179	-137	-365	-245	-226	-617	-35	-54	-559	-1,166
+ (Inc) Dec in Inventories	-29	7	-68	44	-32	-68	17	-47	-153	-71	-151	112	139	61	48
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-20	1	146	44	100	225	232	271	194	254	374	-260	-55	444	815
+ Inc (Dec) in Other	74	-7	45	-12	-2	-2	-51	142	237	49	-38	16	90	-108	17
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	215	317	366	435	278	604	778	906	1,027	1,314	785	1,336	1,599	1,277	1,205
+ 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	- -	-1	424	- -	-241	-367	-534	-522	-657	-341	-1,500	- -	-500	-500	-653
+ Increase in Capital Stock	- -	- -	425	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	-1	- -	- -	-241	-367	-534	-522	-657	-341	-1,500	- -	-500	-500	-653
+ Net Change in LT Investment	-10	- -	- -	-2	- -	-2	- -	- -	- -	- -	- -	- -	- -	-211	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-10	- -	- -	-2	- -	-2	- -	- -	- -	- -	- -	- -	- -	-211	- -
+ Net Cash From Acq & Div	- -	- -	- -	-87	-264	- -	- -	- -	-95	-43	-2,670	-37	-76	-324	-22
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	36	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	-87	-264	- -	- -	- -	-95	-43	-2,706	-37	-76	-324	-22
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-46	-41	-47	-76	-90	-64	-81	-86	-236	-158	-100	-128	-153	-124	92
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-56	-42	-47	-165	-354	-66	-81	-86	-331	-201	-2,770	-164	-230	-659	70
+ Dividends Paid	- -	- -	-7	-34	-53	-79	-107	-139	-183	-220	-235	-283	-322	-332	-329
+ Net Cash From Debt	-1,803	-598	-626	-139	-348	-367	-1,614	-687	-2,282	-470	1,456	-3,396	-356	235	-1
+ Cash From Debt	2,470	425	1,598	1,175	840	1,822	3,644	687	3,046	2,324	5,537	2,301	208	1,492	3,197
+ Repayments of Debt	-4,273	-1,022	-2,224	-1,314	-1,187	-2,189	-5,258	-1,373	-5,328	-2,794	-4,081	-5,698	-564	-1,257	-3,198
+ Other Financing Activities	1,708	260	41	61	415	508	1,436	594	2,373	1,169	1,112	2,577	79	-90	-202
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-95	-338	-168	-112	-226	-305	-819	-755	-750	139	833	-1,102	-1,099	-687	-1,184
Effect of Foreign Exchange Rates	- -	- -	-1	-2	-4	-7	3	-3	2	4	- -	-12	3	-12	20
Net Changes in Cash	63	-62	151	158	-303	234	-122	65	-54	1,252	-1,152	69	270	-69	91
EBITDA	676	721	717	881	969	1,074	1,127	1,253	1,401	1,605	1,610	2,026	1,952	1,927	1,951
EBITDA Margin (%)	7.04	7.12	6.66	7.3	7.46	7.86	7.6	7.71	7.77	8.69	7.73	8.53	9.13	9.17	8.7
Free Cash Flow	215	317	366	435	278	604	778	906	1,027	1,314	785	1,336	1,599	1,277	1,205
Net Cash Paid for Acquisitions	- -	- -	- -	87	264	- -	- -	- -	95	43	2,670	37	76	324	22
Free Cash Flow to Firm	411	514	536	560	377	697	897	1,020	1,151	1,436	900	1,512	1,771	1,438	1,375
Free Cash Flow to Equity	-1,589	-280	-260	296	-70	237	-836	219	-1,255	844	2,240	-2,061	1,242	1,513	1,204
Free Cash Flow per Basic Share	1.48	2.19	2.34	2.55	1.63	3.69	5	6	7.08	9.22	5.66	9.88	11.88	9.55	9.18
Price/Free Cash Flow	- -	- -	10.12	13.97	26.03	14.32	14.14	13.74	20.55	14.52	36.67	18.31	19.38	18.42	14.93
Cash Flow to Net Income	12.56	2.67	2.76	1.78	0.69	1.42	1.49	1.41	1.39	1.67	0.79	1.2	1.45	1.19	1.13
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -