CF Industries Holdings, Inc.

CFCF Industries Holdings, Inc. US flag

New York Stock Exchange

116.59

USD

+3.11

- -

17.91BMarket 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	6,098	6,104	5,475	4,743	4,308	3,685	4,130	4,429	4,590	4,124	6,538	11,186	6,631	5,936	7,084
+ Sales & Services Revenue	6,098	6,104	5,475	4,743	4,308	3,685	4,130	4,429	4,590	4,124	6,538	11,186	6,631	5,936	7,084
- Cost of Revenue	3,202	2,991	2,954	2,965	2,761	2,842	3,696	3,512	3,416	3,323	4,151	5,325	4,086	3,880	4,360
+ Cost of Goods & Services	3,202	2,991	2,954	2,965	2,761	2,842	3,696	3,512	3,416	3,323	4,151	5,325	4,086	3,880	4,360
Gross Profit	2,896	3,113	2,520	1,778	1,547	843	434	917	1,174	801	2,387	5,861	2,545	2,056	2,724
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	130	174	177	182	227	255	200	195	240	203	203	290	293	345	349
+ Selling, General & Admin	130	152	166	152	170	173	191	214	239	206	223	290	289	320	364
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	22	11	30	57	82	9	-19	1	-3	-20	- -	4	25	-15
Operating Income (Loss)	2,766	2,940	2,343	1,596	1,320	588	234	722	934	598	2,184	5,571	2,252	1,711	2,375
- Non-Operating (Income) Loss	120	110	134	-591	262	814	359	175	162	135	641	476	4	-51	136
+ Interest Expense, Net	105	99	132	166	114	136	287	215	204	153	174	271	-16	-11	64
+ Interest Expense	107	103	137	167	116	141	299	228	224	185	175	336	144	139	145
- Interest Income	2	4	5	1	2	5	12	13	20	32	1	65	160	150	81
+ Other Non-Op (Income) Loss	15	11	2	-757	148	678	72	-40	-42	-18	467	205	20	-40	72
Pretax Income	2,646	2,830	2,210	2,187	1,058	-226	-125	547	772	463	1,543	5,095	2,248	1,762	2,239
- Income Tax Expense (Benefit)	926	964	686	773	396	-68	-575	119	126	31	283	1,158	410	285	441
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	1,761	1,923	1,533	1,437	734	-158	450	428	646	432	1,260	3,937	1,838	1,477	1,798
- Net Extraordinary Losses (Gains)	444	149	136	94	68	238	184	276	306	230	686	1,182	626	518	686
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	444	149	136	94	68	238	184	276	306	230	686	1,182	626	518	686
Income (Loss) Incl. MI	1,317	1,774	1,396	1,343	666	-396	266	152	340	202	574	2,755	1,212	959	1,112
- Minority Interest	-222	-75	-68	-47	-34	-119	-92	-138	-153	-115	-343	-591	-313	-259	-343
Net Income, GAAP	1,539	1,849	1,465	1,390	700	-277	358	290	493	317	917	3,346	1,525	1,218	1,455
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	1,539	1,849	1,465	1,390	700	-277	358	290	493	317	917	3,346	1,525	1,218	1,455
EBIT	2,766	2,940	2,343	1,596	1,320	588	234	722	934	598	2,184	5,571	2,252	1,711	2,375
EBITDA	3,182	3,359	2,754	1,989	1,800	1,266	1,117	1,610	1,809	1,490	3,072	6,421	3,121	2,636	3,273
EBITDA Margin (%)	52.18	55.04	50.3	41.94	41.78	34.36	27.05	36.35	39.41	36.13	46.99	57.4	47.07	44.41	46.2
EBITA	2,766	2,940	2,343	1,596	1,320	588	234	722	934	598	2,184	5,571	2,252	1,711	2,375
Gross Margin (%)	47.49	51	46.03	37.49	35.91	22.88	10.51	20.7	25.58	19.42	36.51	52.4	38.38	34.64	38.45
Operating Margin (%)	45.35	48.16	42.8	33.65	30.64	15.96	5.67	16.3	20.35	14.5	33.4	49.8	33.96	28.82	33.53
Profit Margin (%)	25.24	30.29	26.75	29.31	16.25	-7.52	8.67	6.55	10.74	7.69	14.03	29.91	23	20.52	20.54
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.2	0.32	0.44	1	1.2	1.2	1.2	1.2	1.2	1.2	1.21	1.51	1.61	2.02	2.01
Depreciation Expense	416	420	411	393	480	678	883	888	875	892	888	850	869	925	898
Basic Weighted Avg Shares	347	320	294	256	235	233	234	233	220	215	215	203	193	180	162
Basic EPS, GAAP	4.44	5.79	4.97	5.43	2.97	-1.19	1.53	1.25	2.24	1.48	4.27	16.46	7.89	6.75	8.98
Basic EPS from Cont Ops	5.07	6.02	5.2	5.61	3.12	-0.68	1.93	1.84	2.93	2.01	5.86	19.37	9.51	8.19	11.09
Diluted Weighted Avg Shares	350	324	296	256	236	233	234	234	222	215	216	204	194	181	162
Diluted EPS, GAAP	4.4	5.71	4.95	5.42	2.96	-1.19	1.53	1.24	2.22	1.47	4.24	16.39	7.87	6.74	8.97
Diluted EPS from Cont Ops	5.03	5.95	5.18	5.6	3.11	-0.68	1.92	1.83	2.92	2.01	5.83	19.28	9.48	8.17	11.09

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	1,799	2,808	2,630	2,530	1,127	2,655	1,465	1,274	974	1,367	2,593	3,673	3,050	2,520	2,985
+ Cash, Cash Equivalents & STI	1,207	2,275	1,711	1,997	286	1,164	835	682	287	683	1,628	2,323	2,032	1,614	1,982
+ Cash & Cash Equivalents	1,207	2,275	1,711	1,997	286	1,164	835	682	287	683	1,628	2,323	2,032	1,614	1,982
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	269	217	231	192	267	236	307	235	242	265	497	582	505	404	488
+ Accounts Receivable, Net	267	213	225	186	210	227	297	226	229	256	464	542	459	378	444
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	2	4	6	6	57	9	10	9	13	9	33	40	46	26	44
+ Inventories	304	278	274	203	321	339	275	309	351	287	408	474	299	314	383
+ Raw Materials	59	66	23	23	35	60	42	37	40	41	50	37	43	51	51
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	245	212	251	180	286	279	233	272	311	246	358	437	256	263	332
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	18	37	414	140	253	916	48	48	94	132	60	294	214	188	132
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	7,176	7,359	8,048	8,724	11,556	12,476	11,998	11,387	11,198	10,656	9,782	9,640	11,326	10,946	11,103
+ Property, Plant & Equip, Net	3,736	3,900	4,102	5,526	8,539	9,652	9,175	8,623	8,450	7,891	7,324	6,691	7,400	7,001	7,125
+ Property, Plant & Equip	6,184	6,658	6,343	8,037	11,313	12,891	13,246	13,307	13,815	14,036	14,131	14,117	15,503	15,674	16,228
- Accumulated Depreciation	2,448	2,757	2,242	2,511	2,774	3,239	4,071	4,684	5,365	6,145	6,807	7,426	8,103	8,673	9,103
+ LT Investments & Receivables	1,000	962	926	862	298	139	108	93	88	80	82	74	26	29	32
+ LT Investments	1,000	962	926	862	298	139	108	93	88	80	82	74	26	29	32
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,440	2,497	3,020	2,336	2,719	2,685	2,715	2,671	2,660	2,685	2,376	2,875	3,900	3,916	3,946
+ Total Intangible Assets	2,118	2,114	2,142	2,135	2,546	2,473	2,500	2,468	2,475	2,478	2,136	2,104	3,033	2,999	2,966
+ Goodwill	2,064	2,064	2,096	2,093	2,390	2,345	2,371	2,353	2,365	2,374	2,091	2,089	2,495	2,492	2,493
+ Other Intangible Assets	53	50	46	42	156	128	129	115	110	104	45	15	538	507	473
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	322	383	879	202	173	212	215	203	185	207	240	771	867	917	980
Total Assets	8,974	10,167	10,678	11,254	12,683	15,131	13,463	12,661	12,172	12,023	12,375	13,313	14,376	13,466	14,088
+ Payables & Accruals	592	547	637	606	923	639	474	550	438	424	589	578	532	605	681
+ Accounts Payable	100	117	169	66	97	81	99	101	78	85	110	63	114	125	148
+ Accrued Taxes	128	187	73	16	5	1	2	5	1	- -	24	3	12	2	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	364	242	395	524	821	557	373	444	359	339	455	512	406	478	533
+ ST Debt	- -	5	- -	- -	- -	- -	- -	- -	90	337	89	93	96	86	110
+ ST Borrowings	- -	5	- -	- -	- -	- -	- -	- -	- -	249	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	90	88	89	93	96	86	110
+ Other ST Liabilities	439	399	191	374	292	47	106	155	137	145	754	324	172	127	96
+ Deferred Revenue	257	381	164	325	162	42	89	149	119	130	700	229	130	118	77
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	90	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	92	18	27	48	130	5	17	6	18	15	54	95	42	9	19
Total Current Liabilities	1,031	950	828	980	1,215	686	580	705	665	906	1,432	995	800	818	887
+ LT Debt	1,618	1,600	3,098	4,592	5,537	5,778	4,692	4,698	4,150	3,886	3,627	3,132	3,136	3,160	3,526
+ LT Borrowings	1,618	1,600	3,098	4,592	5,537	5,778	4,692	4,698	3,957	3,712	3,465	2,965	2,968	2,971	3,215
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	193	174	162	167	168	189	311
+ Other LT Liabilities	1,393	1,334	1,313	1,110	1,544	2,175	1,507	1,527	1,720	1,628	1,280	1,333	2,067	1,896	1,900
+ Accrued Liabilities	960	939	833	735	916	1,630	1,047	1,117	1,246	1,184	1,029	958	1,753	1,595	1,563
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	433	396	480	375	628	545	460	410	474	444	251	375	314	301	337
Total Noncurrent Liabilities	3,010	2,934	4,411	5,702	7,081	7,953	6,199	6,225	5,870	5,514	4,907	4,465	5,203	5,056	5,426
Total Liabilities	4,042	3,885	5,240	6,682	8,296	8,639	6,779	6,930	6,535	6,420	6,339	5,460	6,003	5,874	6,313
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	2,806	2,493	1,595	1,416	1,380	1,382	1,399	1,370	1,305	1,319	1,377	1,414	1,391	1,286	1,199
+ Common Stock	1	1	1	2	2	2	2	2	2	2	2	2	2	2	2
+ Additional Paid in Capital	2,805	2,492	1,594	1,414	1,378	1,380	1,397	1,368	1,303	1,317	1,375	1,412	1,389	1,284	1,197
- Treasury Stock	1,000	2	202	222	153	1	- -	504	- -	4	2	- -	- -	30	- -
+ Retained Earnings	2,841	3,461	3,726	3,175	3,058	2,365	2,443	2,463	1,958	1,927	2,088	3,867	4,535	4,009	3,874
+ Other Equity	-99	-50	-43	-160	-250	-398	-263	-371	-366	-320	-257	-230	-209	-280	-235
Equity Before Minority Interest	4,547	5,902	5,076	4,210	4,035	3,348	3,579	2,958	2,897	2,922	3,206	5,051	5,717	4,985	4,838
+ Minority/Non Controlling Interest	386	380	362	363	352	3,144	3,105	2,773	2,740	2,681	2,830	2,802	2,656	2,607	2,937
Total Equity	4,933	6,282	5,438	4,572	4,387	6,492	6,684	5,731	5,637	5,603	6,036	7,853	8,373	7,592	7,775
Total Liabilities & Equity	8,974	10,167	10,678	11,254	12,683	15,131	13,463	12,661	12,172	12,023	12,375	13,313	14,376	13,466	14,088
Shares Outstanding	327	315	279	242	233	233	233	223	216	214	208	196	188	170	154
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	283	262	251	260	264	275	421
Net Debt	411	-670	1,387	2,596	5,251	4,614	3,857	4,016	3,670	3,278	1,837	642	936	1,357	1,233
Net Debt to Equity	8.33	-10.66	25.51	56.77	119.69	71.07	57.7	70.08	65.11	58.5	30.43	8.18	11.18	17.87	15.86
Tangible Common Equity Ratio	41.06	51.76	38.62	26.73	18.16	31.75	38.16	32.01	32.61	32.74	38.09	51.29	47.08	43.88	43.24
Current Ratio	1.74	2.95	3.18	2.58	0.93	3.87	2.53	1.81	1.46	1.51	1.81	3.69	3.81	3.08	3.37
Cash Conversion Cycle	-0.18	36.53	31.01	30.37	41.07	52.67	44.43	41.6	43.9	47.37	42.32	40.78	53.82	43.37	39.1

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	1,761	1,923	1,533	1,437	734	-158	450	428	646	432	1,260	3,937	1,838	1,477	1,798
+ Depreciation & Amortization	416	420	411	393	480	678	883	888	875	892	888	850	869	925	898
+ Non-Cash Items	42	-264	-33	-607	338	900	-541	54	96	-105	277	-32	30	-214	173
+ Stock-Based Compensation	11	12	13	17	17	19	17	22	28	25	30	41	37	36	45
+ Deferred Income Taxes	-33	-138	-34	18	78	739	-601	78	149	-74	-196	-107	81	-115	6
+ Asset Impairment Charge	- -	- -	- -	- -	62	134	- -	- -	- -	- -	521	239	43	- -	76
+ Other Non-Cash Adj	64	-137	-11	-642	181	8	43	-46	-81	-56	-78	-205	-131	-135	46
+ Chg in Non-Cash Work Cap	-140	296	-444	198	-345	-803	839	127	-112	12	448	-900	20	83	-117
+ (Inc) Dec in Accts Receiv	-36	53	- -	39	-4	18	-57	68	-6	-19	-235	-110	100	77	-98
+ (Inc) Dec in Inventories	-38	35	-80	64	-71	-7	40	-52	-26	27	-123	-93	152	-28	-88
+ (Inc) Dec in Prepaid Assets	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	107	84	-104	-110	-106	-694	808	44	-72	-15	142	1	-88	44	72
+ Inc (Dec) in Other	-174	123	-260	205	-164	-120	48	67	-8	19	664	-698	-144	-10	-3
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	2,079	2,376	1,467	1,421	1,207	617	1,631	1,497	1,505	1,231	2,873	3,855	2,757	2,271	2,752
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	55	17	13	11	12	14	20	26	70	2	1	1	1	5	6
+ Disp of Fixed Prod Assets	55	17	13	11	12	14	20	26	70	2	1	1	1	5	6
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-247	-524	-824	-1,809	-2,469	-2,211	-473	-422	-404	-309	-524	-462	-1,724	-521	-951
+ Acq of Fixed Prod Assets	-247	-524	-824	-1,809	-2,469	-2,211	-473	-422	-404	-309	-514	-453	-1,722	-518	-950
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-10	-9	-2	-3	-1
+ Cash (Repurchase) of Equity	-1,000	-500	-1,409	-1,935	-556	- -	- -	-467	-374	-110	-539	-1,370	-602	-1,535	-1,379
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-1,000	-500	-1,409	-1,935	-556	- -	- -	-467	-374	-110	-539	-1,370	-602	-1,535	-1,379
+ Net Change in LT Investment	38	48	14	5	- -	- -	9	- -	- -	- -	-1	- -	- -	- -	- -
+ Dec in LT Investment	38	48	14	5	- -	- -	9	- -	- -	- -	12	1	1	2	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-13	-1	-1	-2	- -
+ Net Cash From Acq & Div	- -	- -	-72	1,372	-539	- -	16	- -	- -	- -	- -	- -	-1,223	- -	4
+ Cash from Divestitures	- -	- -	- -	1,372	13	- -	16	- -	- -	- -	- -	- -	- -	- -	4
+ Cash for Acq of Subs	- -	- -	-72	- -	-552	- -	- -	- -	- -	- -	- -	- -	-1,223	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-19	-55	-149	77	20	2	15	21	15	8	58	21	1,267	47	8
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-174	-514	-1,019	-344	-2,976	-2,195	-413	-375	-319	-299	-466	-440	-1,679	-469	-933
+ Dividends Paid	-69	-103	-129	-256	-282	-280	-280	-280	-265	-258	-260	-306	-311	-364	-326
+ Net Cash From Debt	-346	-13	1,498	1,494	1,000	74	-1,148	- -	-769	- -	-518	-507	- -	- -	245
+ Cash From Debt	- -	- -	1,498	1,494	1,367	1,394	- -	- -	- -	500	- -	- -	- -	- -	999
+ Repayments of Debt	-346	-13	- -	- -	-367	-1,320	-1,148	- -	-769	-500	-518	-507	- -	- -	-754
+ Other Financing Activities	-84	-181	-940	-90	-85	2,645	-136	-523	-175	-174	-146	-517	-459	-306	-24
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-1,499	-797	-980	-787	77	2,439	-1,564	-1,270	-1,583	-542	-1,463	-2,700	-1,372	-2,205	-1,484
Effect of Foreign Exchange Rates	4	3	-31	-4	-19	-1	12	-5	2	6	1	-20	3	-15	33
Net Changes in Cash	406	1,065	-533	290	-1,692	861	-346	-148	-397	390	944	715	-294	-403	335
EBITDA	3,182	3,359	2,754	1,989	1,800	1,266	1,117	1,610	1,809	1,490	3,072	6,421	3,121	2,636	3,273
EBITDA Margin (%)	52.18	55.04	50.3	41.94	41.78	34.36	27.05	36.35	39.41	36.13	46.99	57.4	47.07	44.41	46.2
Free Cash Flow	1,832	1,852	643	-388	-1,262	-1,594	1,158	1,075	1,101	922	2,349	3,393	1,033	1,750	1,801
Net Cash Paid for Acquisitions	- -	- -	72	-1,372	539	- -	-16	- -	- -	- -	- -	- -	1,223	- -	-4
Free Cash Flow to Firm	1,901	1,920	737	-280	-1,189	- -	- -	1,253	1,288	1,095	2,492	3,653	1,151	1,867	1,917
Free Cash Flow to Equity	1,540	1,856	2,154	1,117	-250	-1,506	30	1,101	402	924	1,842	2,896	1,036	1,758	2,053
Free Cash Flow per Basic Share	5.28	5.8	2.18	-1.52	-5.36	-6.84	4.96	4.62	5	4.29	10.93	16.69	5.34	9.7	11.11
Price/Free Cash Flow	3.16	3.32	4.45	3.26	2.02	2.09	3.96	4.56	4.9	4.97	4.23	3.85	3.35	5.52	3.39
Cash Flow to Net Income	1.35	1.29	1	1.02	1.72	-2.23	4.56	5.16	3.05	3.88	3.13	1.15	1.81	1.86	1.89
Capital Expenditures	-247	-524	-824	-1,809	-2,469	-2,211	-473	-422	-404	-309	-524	-462	-1,724	-521	-951