CMS Energy Corporation

CMS-PC

CMS-PCCMS Energy Corporation US flag

New York Stock Exchange

16.95

USD

-0.05

- -

5.13BMarket Cap

Income Statement (USD)

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
Sales/Revenue/Turnover	6,503	6,253	6,566	7,179	6,456	6,399	6,583	6,873	6,624	6,418	7,329	8,596	7,462	7,515	8,539
+ Sales & Services Revenue	6,503	6,253	6,566	7,179	6,456	6,399	6,583	6,873	6,624	6,418	7,329	8,596	7,462	7,515	8,539
- Cost of Revenue	4,749	4,423	4,562	5,090	4,266	4,051	4,080	4,475	4,189	3,788	4,680	5,834	4,600	4,306	4,993
+ Cost of Goods & Services	4,749	4,423	4,562	5,090	4,266	4,051	4,080	4,475	4,189	3,788	4,680	5,834	4,600	4,306	4,993
Gross Profit	1,754	1,830	2,004	2,089	2,190	2,348	2,503	2,398	2,435	2,630	2,649	2,762	2,862	3,209	3,546
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	751	827	862	937	1,012	1,092	1,165	1,236	1,320	1,400	1,503	1,538	1,627	1,722	1,819
+ Selling, General & Admin	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	751	827	862	937	1,012	1,092	1,165	1,236	1,320	1,400	1,503	1,538	1,627	1,722	1,819
Operating Income (Loss)	1,003	1,003	1,142	1,152	1,178	1,256	1,338	1,162	1,115	1,230	1,146	1,224	1,235	1,487	1,727
- Non-Operating (Income) Loss	397	381	386	423	382	430	452	388	351	421	323	322	281	364	479
+ Interest Expense, Net	406	384	395	402	384	429	426	447	453	494	497	519	605	658	751
+ Interest Expense	415	389	398	407	396	435	438	458	460	505	500	519	643	708	798
- Interest Income	9	5	3	5	12	6	12	11	7	11	3	- -	38	50	47
+ Other Non-Op (Income) Loss	-9	-3	-9	21	-2	1	26	-59	-102	-73	-174	-197	-324	-294	-272
Pretax Income	606	622	756	729	796	826	886	774	764	809	823	902	954	1,123	1,248
- Income Tax Expense (Benefit)	191	245	302	250	271	273	424	115	131	115	95	93	147	176	246
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	415	377	454	479	525	553	462	659	633	694	728	809	807	947	1,002
- Net Extraordinary Losses (Gains)	2	-3	4	4	4	4	4	4	-45	-64	-648	-52	-159	-112	-138
+ Discontinued Operations	2	7	- -	- -	- -	- -	- -	- -	49	58	602	4	1	- -	- -
+ Extraord. & Accounting Changes	- -	-10	4	4	4	4	4	4	-94	-122	-1,250	-56	-160	-112	-138
Income (Loss) Incl. MI	413	380	450	475	521	549	458	655	678	758	1,376	861	966	1,059	1,140
- Minority Interest	-2	-2	-2	-2	-2	-2	-2	-2	-2	3	23	24	79	56	69
Net Income, GAAP	415	382	452	477	523	551	460	657	680	755	1,353	837	887	1,003	1,071
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	2	2	2	5	10	10	10	10
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	415	382	452	477	523	551	460	655	678	753	1,348	827	877	993	1,061
EBIT	1,003	1,003	1,142	1,152	1,178	1,256	1,338	1,162	1,115	1,230	1,146	1,224	1,235	1,487	1,727
EBITDA	1,549	1,601	1,770	1,837	1,928	2,067	2,219	2,095	2,104	2,273	2,260	2,350	2,415	2,727	3,033
EBITDA Margin (%)	23.82	25.6	26.96	25.59	29.86	32.3	33.71	30.48	31.76	35.42	30.84	27.34	32.36	36.29	35.52
EBITA	1,003	1,003	1,142	1,152	1,178	1,256	1,338	1,162	1,115	1,230	1,146	1,224	1,235	1,487	1,727
Gross Margin (%)	26.97	29.27	30.52	29.1	33.92	36.69	38.02	34.89	36.76	40.98	36.14	32.13	38.35	42.7	41.53
Operating Margin (%)	15.42	16.04	17.39	16.05	18.25	19.63	20.33	16.91	16.83	19.16	15.64	14.24	16.55	19.79	20.22
Profit Margin (%)	6.38	6.11	6.88	6.64	8.1	8.61	6.99	9.56	10.27	11.76	18.46	9.74	11.89	13.35	12.54
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	546	598	628	685	750	811	881	933	989	1,043	1,114	1,126	1,180	1,240	1,306
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Balance Sheet (USD)

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
Total Current Assets	2,565	2,422	2,526	2,597	2,320	2,280	2,475	2,468	2,331	2,404	2,627	3,433	2,839	2,790	3,472
+ Cash, Cash Equivalents & STI	161	93	172	207	266	235	182	153	140	32	452	164	227	103	509
+ Cash & Cash Equivalents	161	93	172	207	266	235	182	153	140	32	452	164	227	103	509
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	928	938	987	1,017	913	1,013	1,242	1,227	1,145	872	943	1,580	944	1,063	1,323
+ Accounts Receivable, Net	879	865	924	892	785	821	1,044	978	903	872	931	1,564	933	1,049	1,306
+ Notes Receivable, Net	49	41	63	98	128	180	198	233	242	275	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	32	- -	27	- -	12	- -	16	- -	-275	12	16	11	14	17
+ Inventories	1,187	1,084	881	918	778	626	672	650	605	576	667	1,117	938	769	791
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	1,187	1,084	881	918	778	626	672	650	605	576	667	1,117	938	769	791
+ Other ST Assets	289	307	486	455	363	406	379	438	441	924	565	572	730	855	849
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	13,887	14,709	14,890	16,588	17,979	19,342	20,575	22,061	24,506	27,262	26,126	27,920	30,678	33,130	36,469
+ Property, Plant & Equip, Net	10,633	11,551	12,246	13,412	14,705	15,715	16,761	18,126	18,926	21,017	22,352	22,713	25,072	27,461	30,680
+ Property, Plant & Equip	15,534	16,672	17,333	18,827	20,452	21,771	23,271	25,163	26,286	28,955	30,854	31,673	34,079	37,030	40,815
- Accumulated Depreciation	4,901	5,121	5,087	5,415	5,747	6,056	6,510	7,037	7,360	7,938	8,502	8,960	9,007	9,569	10,135
+ LT Investments & Receivables	50	57	59	61	64	65	64	69	71	70	71	71	76	69	61
+ LT Investments	50	57	59	61	64	65	64	69	71	70	71	71	76	69	61
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	3,204	3,101	2,585	3,115	3,210	3,562	3,750	3,866	5,509	6,175	3,703	5,136	5,530	5,600	5,728
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	3,204	3,101	2,585	3,115	3,210	3,562	3,750	3,866	5,509	6,175	3,703	5,136	5,530	5,600	5,728
Total Assets	16,452	17,131	17,416	19,185	20,299	21,622	23,050	24,529	26,837	29,666	28,753	31,353	33,517	35,920	39,941
+ Payables & Accruals	997	901	1,000	1,118	1,123	1,077	1,236	1,229	1,211	1,246	1,520	1,596	1,617	1,941	2,322
+ Accounts Payable	584	521	595	688	642	598	740	733	635	668	875	928	802	1,085	1,395
+ Accrued Taxes	282	279	297	316	349	348	360	398	437	454	515	538	612	654	708
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	131	101	108	114	132	131	136	98	139	124	130	130	203	202	219
+ ST Debt	1,057	651	732	600	955	1,284	1,273	1,093	1,220	591	382	1,119	1,073	1,260	956
+ ST Borrowings	1,057	651	732	600	955	1,284	1,273	1,093	1,220	591	382	1,119	1,073	1,260	956
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	284	245	213	230	224	294	275	302	273	1,237	302	270	205	320	270
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	68	- -	66	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	284	177	213	164	224	294	275	302	273	1,237	302	270	205	320	270
Total Current Liabilities	2,338	1,797	1,945	1,948	2,302	2,655	2,784	2,624	2,704	3,074	2,204	2,985	2,895	3,521	3,548
+ LT Debt	6,207	6,863	7,239	8,139	8,518	8,750	9,214	10,684	12,027	11,800	12,092	13,190	14,570	15,306	17,942
+ LT Borrowings	6,040	6,710	7,101	8,016	8,400	8,640	9,123	10,615	11,951	11,744	12,046	13,122	14,508	15,194	17,807
+ LT Finance Leases	167	153	138	123	118	110	91	69	76	56	46	68	62	112	135
+ Other LT Liabilities	4,835	5,233	4,741	5,391	5,504	5,927	6,574	6,429	7,051	8,715	7,269	7,583	7,927	8,345	8,740
+ Accrued Liabilities	1,081	1,058	1,656	1,785	2,073	2,360	1,356	1,586	1,775	1,978	2,322	2,536	2,741	3,047	3,370
+ Pension Liabilities	1,289	1,451	239	872	591	789	766	436	674	152	142	108	106	96	95
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2,465	2,724	2,846	2,734	2,840	2,778	4,452	4,407	4,602	6,585	4,805	4,939	5,080	5,202	5,275
Total Noncurrent Liabilities	11,042	12,096	11,980	13,530	14,022	14,677	15,788	17,113	19,078	20,515	19,361	20,773	22,497	23,651	26,682
Total Liabilities	13,380	13,893	13,925	15,478	16,324	17,332	18,572	19,737	21,782	23,589	21,565	23,758	25,392	27,172	30,230
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	224	224	224	224	224
+ Share Capital & APIC	4,630	4,672	4,718	4,777	4,840	4,919	5,022	5,091	5,116	5,368	5,409	5,493	5,708	6,012	6,513
+ Common Stock	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3
+ Additional Paid in Capital	4,627	4,669	4,715	4,774	4,837	4,916	5,019	5,088	5,113	5,365	5,406	5,490	5,705	6,009	6,510
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-1,553	-1,423	-1,242	-1,058	-855	-616	-531	-271	-25	214	1,057	1,350	1,658	2,035	2,443
+ Other Equity	-49	-55	-22	-49	-47	-50	-50	-65	-73	-86	-59	-52	-46	-41	-36
Equity Before Minority Interest	3,028	3,194	3,454	3,670	3,938	4,253	4,441	4,755	5,018	5,496	6,631	7,015	7,544	8,230	9,144
+ Minority/Non Controlling Interest	44	44	37	37	37	37	37	37	37	581	557	580	581	518	567
Total Equity	3,072	3,238	3,491	3,707	3,975	4,290	4,478	4,792	5,055	6,077	7,188	7,595	8,125	8,748	9,711
Total Liabilities & Equity	16,452	17,131	17,416	19,185	20,299	21,622	23,050	24,529	26,837	29,666	28,753	31,353	33,517	35,920	39,941
Shares Outstanding	254	264	266	275	277	279	282	283	284	289	290	291	294	299	306
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	167	153	138	123	118	110	91	69	76	56	46	68	62	112	135
Net Debt	6,936	7,268	7,661	8,409	9,089	9,689	10,214	11,555	13,031	12,303	11,976	14,077	15,354	16,351	18,254
Net Debt to Equity	225.78	224.46	219.45	226.84	228.65	225.85	228.09	241.13	257.78	202.45	166.61	185.35	188.97	186.91	187.97
Tangible Common Equity Ratio	18.67	18.9	20.04	19.32	19.58	19.84	19.43	19.54	18.84	20.48	24.22	23.51	23.57	23.73	23.75
Current Ratio	1.1	1.35	1.3	1.33	1.01	0.86	0.89	0.94	0.86	0.78	1.19	1.15	0.98	0.79	0.98
Cash Conversion Cycle	101.72	97.92	81.61	65	61.13	51.01	50.58	47.24	46.25	44.11	34.35	56.42	71.18	37.24	17.1

Cash Flow Statement (USD)

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
+ Net Income	417	384	454	479	525	553	462	659	682	752	1,330	813	808	947	1,002
+ Depreciation & Amortization	546	598	628	685	750	811	881	933	989	1,043	1,114	1,126	1,180	1,240	1,306
+ Non-Cash Items	112	415	341	333	143	258	536	6	115	-527	-468	29	-95	-79	-12
+ Stock-Based Compensation	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Income Taxes	167	227	268	227	247	264	417	182	150	170	249	89	157	142	202
+ Asset Impairment Charge	74	57	67	80	58	50	49	54	30	30	22	50	34	33	40
+ Other Non-Cash Adj	-129	131	6	26	-162	-56	70	-230	-65	-727	-739	-110	-286	-254	-254
+ Chg in Non-Cash Work Cap	94	-156	-2	-16	222	7	-174	105	-35	-25	-46	-1,113	416	262	-61
+ (Inc) Dec in Accts Receiv	119	-147	-120	-31	120	-155	-66	15	48	-5	-103	-677	241	-155	-251
+ (Inc) Dec in Inventories	-14	104	202	-36	147	146	-46	14	44	28	-93	-450	185	164	-28
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-4	-35	4	50	-26	59	49	22	-71	56	153	4	-136	15	196
+ Inc (Dec) in Other	-7	-78	-88	1	-19	-43	-111	54	-56	-104	-3	10	126	238	22
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	39	33	-111	- -	- -	- -	- -
Cash from Operating Activities	1,169	1,241	1,421	1,481	1,640	1,629	1,705	1,703	1,790	1,276	1,819	855	2,309	2,370	2,235
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	97	58	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	97	58	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-54	-49	-56	-66	-115	-107	-115	-146	-127	-129	-133	-107	-979	-160	-214
+ Acq of Fixed Prod Assets	-54	-49	-56	-66	-115	-107	-115	-146	-127	-129	-133	-107	-979	-160	-214
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	29	30	36	43	43	72	83	41	12	253	26	69	192	286	525
+ Increase in Capital Stock	29	30	36	43	43	72	83	41	12	253	26	69	192	286	525
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	146	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	146	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	-154	- -	- -	- -	- -	- -	898	5	-812	124	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	898	5	- -	124	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	-154	- -	- -	- -	- -	- -	- -	- -	-812	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-1,004	-1,301	-1,476	-1,832	-1,795	-1,808	-1,753	-2,606	-2,786	-2,796	-1,998	-2,374	-1,595	-3,018	-3,824
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	-689	-485	78	- -	- -	- -	- -
Cash from Investing Activities	-1,058	-1,350	-1,532	-1,898	-2,064	-1,915	-1,868	-2,606	-2,816	-2,867	-1,233	-2,476	-3,386	-3,054	-4,038
+ Dividends Paid	-211	-252	-273	-295	-322	-347	-377	-407	-436	-467	-508	-544	-579	-626	-663
+ Net Cash From Debt	26	263	427	750	931	548	472	1,264	859	989	100	1,813	1,492	1,010	2,459
+ Cash From Debt	473	1,825	1,210	1,551	1,191	1,298	1,680	3,207	2,151	3,089	335	1,919	3,624	1,962	3,609
+ Repayments of Debt	-447	-1,562	-783	-801	-260	-750	-1,208	-1,943	-1,292	-2,100	-235	-106	-2,132	-952	-1,150
+ Other Financing Activities	-43	- -	- -	-36	-189	-18	-68	-24	573	844	87	-11	38	-56	-81
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-199	41	190	462	463	255	110	874	1,008	1,619	-295	1,327	1,143	614	2,240
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-88	-68	79	45	39	-31	-53	-29	-18	28	291	-294	66	-70	437
EBITDA	1,549	1,601	1,770	1,837	1,928	2,067	2,219	2,095	2,104	2,273	2,260	2,350	2,415	2,727	3,033
EBITDA Margin (%)	23.82	25.6	26.96	25.59	29.86	32.3	33.71	30.48	31.76	35.42	30.84	27.34	32.36	36.29	35.52
Free Cash Flow	1,115	1,192	1,365	1,415	1,525	1,522	1,590	1,557	1,663	1,147	1,686	748	1,330	2,210	2,021
Net Cash Paid for Acquisitions	- -	- -	- -	- -	154	- -	- -	- -	- -	- -	-898	-5	812	-124	- -
Free Cash Flow to Firm	1,399	1,428	1,604	1,682	1,786	1,813	1,818	1,947	2,044	1,580	2,128	1,213	1,874	2,807	2,662
Free Cash Flow to Equity	1,141	1,455	1,792	2,165	2,456	2,070	2,062	2,819	2,617	2,192	2,005	2,551	2,812	3,210	4,470
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow to Net Income	2.82	3.25	3.14	3.1	3.14	2.96	3.71	2.59	2.63	1.69	1.34	1.02	2.6	2.36	2.09
Capital Expenditures	-54	-49	-56	-66	-115	-107	-115	-146	-127	-129	-133	-107	-979	-160	-214