General Dynamics Corporation

GDGeneral Dynamics Corporation US flag

New York Stock Exchange

337.04

USD

-0.57

- -

91.15BMarket 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	32,677	30,992	30,930	30,852	31,781	30,561	30,973	36,193	39,350	37,925	38,469	39,407	42,272	47,716	52,550
+ Sales & Services Revenue	32,677	30,992	30,930	30,852	31,781	30,561	30,973	36,193	39,350	37,925	38,469	39,407	42,272	47,716	52,550
- Cost of Revenue	26,821	26,012	25,202	24,979	25,549	24,896	24,731	29,536	32,363	31,600	32,061	32,785	35,600	40,352	44,599
+ Cost of Goods & Services	26,821	26,012	25,202	24,979	25,549	24,896	24,731	29,536	32,363	31,600	32,061	32,785	35,600	40,352	44,599
Gross Profit	5,856	4,980	5,728	5,873	6,232	5,665	6,242	6,657	6,987	6,325	6,408	6,622	6,672	7,364	7,951
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,030	2,221	2,039	1,984	1,937	1,921	2,006	2,263	2,417	2,192	2,245	2,411	2,427	2,568	2,595
+ Selling, General & Admin	2,030	2,221	2,039	1,984	1,937	1,921	2,006	2,263	2,417	2,192	2,245	2,411	2,427	2,568	2,595
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	3,826	2,759	3,689	3,889	4,295	3,744	4,236	4,394	4,570	4,133	4,163	4,211	4,245	4,796	5,356
- Non-Operating (Income) Loss	108	2,286	78	87	76	88	159	309	368	395	290	175	261	256	253
+ Interest Expense, Net	141	156	86	86	83	91	103	356	460	477	424	364	343	324	314
+ Interest Expense	155	168	103	103	98	99	117	374	472	489	431	391	399	393	402
- Interest Income	14	12	17	17	15	8	14	18	12	12	7	27	56	69	88
+ Other Non-Op (Income) Loss	-33	2,130	-8	1	-7	-3	56	-47	-92	-82	-134	-189	-82	-68	-61
Pretax Income	3,718	473	3,611	3,802	4,219	3,656	4,077	4,085	4,202	3,738	3,873	4,036	3,984	4,540	5,103
- Income Tax Expense (Benefit)	1,166	854	1,125	1,129	1,183	977	1,165	727	718	571	616	646	669	758	893
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	2,552	-381	2,486	2,673	3,036	2,679	2,912	3,358	3,484	3,167	3,257	3,390	3,315	3,782	4,210
- Net Extraordinary Losses (Gains)	26	-49	129	140	- -	107	- -	13	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	-26	49	-129	-140	- -	-107	- -	-13	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	52	-98	258	280	- -	214	- -	26	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	2,526	-332	2,357	2,533	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782	4,210
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	2,526	-332	2,357	2,533	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782	4,210
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2,526	-332	2,357	2,533	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782	4,210
EBIT	3,826	2,759	3,689	3,889	4,295	3,744	4,236	4,394	4,570	4,133	4,163	4,211	4,245	4,796	5,356
EBITDA	4,418	3,349	4,214	4,385	4,776	4,197	4,677	5,157	5,399	5,011	5,053	5,095	5,108	5,682	6,280
EBITDA Margin (%)	13.52	10.81	13.62	14.21	15.03	13.73	15.1	14.25	13.72	13.21	13.14	12.93	12.08	11.91	11.95
EBITA	3,826	2,759	3,689	3,889	4,295	3,744	4,236	4,394	4,570	4,133	4,163	4,211	4,245	4,796	5,356
Gross Margin (%)	17.92	16.07	18.52	19.04	19.61	18.54	20.15	18.39	17.76	16.68	16.66	16.8	15.78	15.43	15.13
Operating Margin (%)	11.71	8.9	11.93	12.61	13.51	12.25	13.68	12.14	11.61	10.9	10.82	10.69	10.04	10.05	10.19
Profit Margin (%)	7.73	-1.07	7.62	8.21	9.55	8.42	9.4	9.24	8.85	8.35	8.47	8.6	7.84	7.93	8.01
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.85	2.53	1.69	2.45	2.72	2.99	3.3	3.64	4	4.32	4.69	4.97	5.23	5.58	5.92
Depreciation Expense	592	590	525	496	481	453	441	763	829	878	890	884	863	886	924
Basic Weighted Avg Shares	364	353	351	335	321	305	299	295	288	287	280	275	273	274	269
Basic EPS, GAAP	6.94	-0.94	6.72	7.56	9.45	8.44	9.73	11.33	12.08	11.04	11.62	12.31	12.14	13.81	15.64
Basic EPS from Cont Ops	7.01	-1.08	7.09	7.97	9.45	8.79	9.73	11.37	12.08	11.04	11.62	12.31	12.14	13.81	15.64
Diluted Weighted Avg Shares	368	353	354	341	327	310	305	299	291	288	282	278	276	278	272
Diluted EPS, GAAP	6.87	-0.94	6.67	7.42	9.29	8.29	9.56	11.18	11.98	11	11.55	12.19	12.02	13.63	15.46
Diluted EPS from Cont Ops	6.94	-1.08	7.03	7.83	9.29	8.63	9.56	11.22	11.98	11	11.55	12.19	12.02	13.63	15.46

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	15,368	15,744	18,162	17,407	14,571	16,534	18,328	18,189	20,288	21,543	19,987	21,063	23,615	24,386	24,248
+ Cash, Cash Equivalents & STI	2,649	3,296	5,301	4,388	2,785	2,334	2,983	963	902	2,824	1,603	1,242	1,913	1,697	2,333
+ Cash & Cash Equivalents	2,649	3,296	5,301	4,388	2,785	2,334	2,983	963	902	2,824	1,603	1,242	1,913	1,697	2,333
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	4,429	4,204	4,370	4,050	3,446	7,611	8,857	10,335	11,401	11,185	11,539	11,803	11,001	11,225	10,786
+ Accounts Receivable, Net	4,429	4,204	4,370	4,050	3,446	3,399	3,617	3,759	3,544	3,161	3,041	3,008	3,004	2,977	2,406
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	4,212	5,240	6,576	7,857	8,024	8,498	8,795	7,997	8,248	8,380
+ Inventories	7,478	7,740	7,670	7,812	7,723	5,118	5,303	5,977	6,306	5,745	5,340	6,322	8,578	9,724	9,232
+ Raw Materials	6,199	6,073	5,990	5,881	5,733	1,429	1,357	1,504	1,733	1,712	1,651	2,072	2,886	3,396	3,248
+ Work In Process	1,202	1,518	1,633	1,828	1,889	3,643	3,872	4,357	4,419	3,990	3,654	4,182	5,655	6,279	5,938
+ Finished Goods	77	149	47	103	101	46	74	116	154	43	35	68	37	49	46
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	812	504	821	1,157	617	1,471	1,185	914	1,679	1,789	1,505	1,696	2,123	1,740	1,897
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	19,515	18,565	17,332	17,930	17,426	16,638	16,718	27,219	29,061	29,765	30,086	30,522	31,195	31,494	33,001
+ Property, Plant & Equip, Net	3,284	3,403	3,359	3,329	3,466	3,477	3,517	3,978	4,475	5,100	5,417	5,900	6,198	6,467	7,525
+ Property, Plant & Equip	6,518	7,003	7,152	7,292	7,676	7,929	8,237	8,972	9,761	10,714	11,464	12,292	13,000	13,564	15,130
- Accumulated Depreciation	3,234	3,600	3,793	3,963	4,210	4,452	4,720	4,994	5,286	5,614	6,047	6,392	6,802	7,097	7,605
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	16,231	15,162	13,973	14,601	13,960	13,161	13,201	23,241	24,586	24,665	24,669	24,622	24,997	25,027	25,476
+ Total Intangible Assets	15,389	13,431	12,976	12,643	12,206	12,123	12,616	22,179	21,992	22,170	22,076	22,158	22,242	22,076	22,384
+ Goodwill	13,576	12,048	11,932	11,731	11,443	11,445	11,914	19,594	19,677	20,053	20,098	20,334	20,586	20,556	21,009
+ Other Intangible Assets	1,813	1,383	1,044	912	763	678	702	2,585	2,315	2,117	1,978	1,824	1,656	1,520	1,375
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	842	1,731	997	1,958	1,754	1,038	585	1,062	2,594	2,495	2,593	2,464	2,755	2,951	3,092
Total Assets	34,883	34,309	35,494	35,337	31,997	33,172	35,046	45,408	49,349	51,308	50,073	51,585	54,810	55,880	57,249
+ Payables & Accruals	3,740	3,304	3,017	2,775	2,612	3,231	3,993	4,131	4,103	4,275	4,520	4,861	4,648	5,059	4,210
+ Accounts Payable	2,895	2,469	2,216	2,057	1,964	2,538	3,207	3,179	3,162	2,952	3,167	3,398	3,095	3,344	2,678
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	845	835	801	718	648	693	786	952	941	1,323	1,353	1,463	1,553	1,715	1,532
+ ST Debt	23	- -	1	501	501	900	2	973	3,172	3,333	1,342	1,541	832	1,821	1,305
+ ST Borrowings	23	- -	1	501	501	900	2	973	2,920	3,003	1,005	1,253	507	1,502	1,006
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	252	330	337	288	325	319	299
+ Other ST Liabilities	7,382	8,316	9,241	10,475	9,332	9,319	9,104	9,635	9,526	8,356	8,116	8,939	10,952	10,944	11,281
+ Deferred Revenue	5,011	6,042	6,584	7,335	5,674	6,827	6,992	7,270	7,148	6,276	6,266	7,436	9,564	9,491	9,824
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	131	173	300	729	829	1,258	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2,240	2,101	2,357	2,411	2,829	1,234	2,112	2,365	2,378	2,080	1,850	1,503	1,388	1,453	1,457
Total Current Liabilities	11,145	11,620	12,259	13,751	12,445	13,450	13,099	14,739	16,801	15,964	13,978	15,341	16,432	17,824	16,796
+ LT Debt	3,907	3,908	3,908	3,392	2,898	2,988	3,980	11,444	10,261	11,399	11,833	10,573	10,251	8,855	8,484
+ LT Borrowings	3,907	3,908	3,908	3,392	2,898	2,988	3,980	11,444	9,010	9,995	10,490	9,243	8,754	7,260	7,007
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	1,251	1,404	1,343	1,330	1,497	1,595	1,477
+ Other LT Liabilities	6,599	7,391	4,826	6,365	5,916	6,433	6,532	7,493	8,309	8,284	6,621	7,103	6,828	7,138	6,347
+ Accrued Liabilities	1,302	993	812	699	581	902	1,058	1,303	1,297	872	1,250	2,175	2,576	2,996	2,649
+ Pension Liabilities	4,627	5,671	3,076	4,596	4,251	4,393	4,408	4,422	5,172	5,182	2,813	2,453	2,219	2,024	1,134
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	670	727	938	1,070	1,084	1,138	1,066	1,768	1,840	2,230	2,558	2,475	2,033	2,118	2,564
Total Noncurrent Liabilities	10,506	11,299	8,734	9,757	8,814	9,421	10,512	18,937	18,570	19,683	18,454	17,676	17,079	15,993	14,831
Total Liabilities	21,651	22,919	20,993	23,508	21,259	22,871	23,611	33,676	35,371	35,647	32,432	33,017	33,511	33,817	31,627
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	2,370	2,470	2,708	3,030	3,212	3,301	3,354	3,428	3,521	3,606	3,760	4,038	4,242	4,544	4,885
+ Common Stock	482	482	482	482	482	482	482	482	482	482	482	482	482	482	482
+ Additional Paid in Capital	1,888	1,988	2,226	2,548	2,730	2,819	2,872	2,946	3,039	3,124	3,278	3,556	3,760	4,062	4,403
- Treasury Stock	5,743	6,165	6,450	9,396	12,392	14,156	15,543	17,244	17,358	17,893	19,619	20,721	21,054	22,450	22,860
+ Retained Earnings	18,917	17,860	19,428	21,127	23,204	24,543	26,444	29,326	31,633	33,498	35,420	37,403	39,270	41,487	44,080
+ Other Equity	-2,312	-2,775	-1,185	-2,932	-3,286	-3,387	-2,820	-3,778	-3,818	-3,550	-1,920	-2,152	-1,159	-1,518	-483
Equity Before Minority Interest	13,232	11,390	14,501	11,829	10,738	10,301	11,435	11,732	13,978	15,661	17,641	18,568	21,299	22,063	25,622
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	13,232	11,390	14,501	11,829	10,738	10,301	11,435	11,732	13,978	15,661	17,641	18,568	21,299	22,063	25,622
Total Liabilities & Equity	34,883	34,309	35,494	35,337	31,997	33,172	35,046	45,408	49,349	51,308	50,073	51,585	54,810	55,880	57,249
Shares Outstanding	356	356	353	332	313	302	297	289	290	286	278	274	274	270	270
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	1,503	1,734	1,680	1,618	1,822	1,914	1,776
Net Debt	1,281	612	-1,392	-495	614	1,554	999	11,454	11,028	10,174	9,892	9,254	7,348	7,065	5,680
Net Debt to Equity	9.68	5.37	-9.6	-4.18	5.72	15.09	8.74	97.63	78.9	64.96	56.07	49.84	34.5	32.02	22.17
Tangible Common Equity Ratio	-11.06	-9.78	6.77	-3.59	-7.42	-8.66	-5.27	-44.97	-29.29	-22.34	-15.84	-12.2	-2.9	-0.04	9.29
Current Ratio	1.38	1.35	1.48	1.27	1.17	1.23	1.4	1.23	1.21	1.35	1.43	1.37	1.44	1.37	1.44
Cash Conversion Cycle	79.82	120.35	128.16	131.88	125.19	98.15	76.16	68.31	67.74	65.92	57.24	57.45	71.04	77.33	71.35

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	2,526	-332	2,357	2,533	3,036	2,572	2,912	3,345	3,484	3,167	3,257	3,390	3,315	3,782	4,210
+ Depreciation & Amortization	592	590	525	496	481	453	441	763	829	878	890	884	863	886	924
+ Non-Cash Items	33	2,124	467	190	418	108	759	-135	270	17	-512	-375	-312	294	-206
+ Stock-Based Compensation	128	114	120	128	98	95	123	140	133	128	126	165	181	183	196
+ Deferred Income Taxes	14	-144	115	136	213	184	401	-3	92	-127	-66	-178	-177	-86	256
+ Asset Impairment Charge	111	2,295	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-220	-141	232	-74	107	-171	235	-272	45	16	-572	-362	-316	197	-658
+ Chg in Non-Cash Work Cap	87	224	-238	609	-1,328	-970	-236	-825	-1,602	-204	636	680	844	-850	192
+ (Inc) Dec in Accts Receiv	-397	225	-223	330	693	-1,170	-1,182	-383	-1,127	255	-272	-210	951	-245	410
+ (Inc) Dec in Inventories	-248	-341	-23	-22	141	-377	-182	-591	-376	502	405	-980	-2,219	-1,195	450
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	17	-413	-204	-161	-89	567	657	-197	6	-254	149	-212	-303	247	-664
+ Inc (Dec) in Other	715	753	212	462	-2,073	10	471	346	-105	-707	354	2,082	2,415	343	-4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	3,238	2,606	3,111	3,828	2,607	2,163	3,876	3,148	2,981	3,858	4,271	4,579	4,710	4,112	5,120
+ 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	-1,468	-602	-740	-3,382	-3,233	-1,996	-1,558	-1,769	-231	-587	-1,828	-1,229	-434	-1,501	-637
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-1,468	-602	-740	-3,382	-3,233	-1,996	-1,558	-1,769	-231	-587	-1,828	-1,229	-434	-1,501	-637
+ Net Change in LT Investment	-49	-216	-22	-500	377	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	783	296	113	- -	500	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-832	-512	-135	-500	-123	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-1,560	-444	-1	- -	-5	-58	-399	-10,099	-19	-203	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-1,560	-444	-1	- -	-5	-58	-399	-10,099	-19	-203	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-365	18	-340	-602	-172	-333	-389	-135	-975	-771	-882	-1,489	-941	-953	-1,284
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-1,974	-642	-363	-1,102	200	-391	-788	-10,234	-994	-974	-882	-1,489	-941	-953	-1,284
+ Dividends Paid	-673	-893	-591	-822	-873	-911	-986	-1,075	-1,152	-1,240	-1,315	-1,369	-1,428	-1,529	-1,593
+ Net Cash From Debt	747	-18	- -	- -	-500	492	85	8,433	-559	1,019	-1,503	-1,000	-1,250	-500	-753
+ Cash From Debt	1,497	2,382	- -	- -	- -	992	985	8,433	291	4,380	3,494	- -	- -	- -	747
+ Repayments of Debt	-750	-2,400	- -	- -	-500	-500	-900	- -	-850	-3,361	-4,997	-1,000	-1,250	-500	-1,500
+ Other Financing Activities	193	131	606	529	239	246	60	-503	-55	-95	56	127	18	161	-207
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-1,201	-1,382	-725	-3,675	-4,367	-2,169	-2,399	5,086	-1,997	-903	-4,590	-3,471	-3,094	-3,369	-3,190
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	63	582	2,023	-949	-1,560	-397	689	-2,000	-10	1,981	-1,201	-381	675	-210	646
EBITDA	4,418	3,349	4,214	4,385	4,776	4,197	4,677	5,157	5,399	5,011	5,053	5,095	5,108	5,682	6,280
EBITDA Margin (%)	13.52	10.81	13.62	14.21	15.03	13.73	15.1	14.25	13.72	13.21	13.14	12.93	12.08	11.91	11.95
Free Cash Flow	3,238	2,606	3,111	3,828	2,607	2,163	3,876	3,148	2,981	3,858	4,271	4,579	4,710	4,112	5,120
Net Cash Paid for Acquisitions	1,560	444	1	- -	5	58	399	10,099	19	203	- -	- -	- -	- -	- -
Free Cash Flow to Firm	3,344	2,471	3,182	3,900	2,678	2,236	3,960	3,455	3,372	4,272	4,633	4,907	5,042	4,439	5,452
Free Cash Flow to Equity	3,985	2,588	3,111	3,828	2,107	2,655	3,961	11,581	2,422	4,877	2,768	3,579	3,460	3,612	4,367
Free Cash Flow per Basic Share	8.89	7.38	8.87	11.42	8.11	7.1	12.95	10.66	10.34	13.45	15.23	16.63	17.25	15.01	19.03
Price/Free Cash Flow	7.54	9.39	10.86	12.27	17.21	24.78	15.99	14.94	17.2	11.11	13.76	15.07	15.2	17.78	17.91
Cash Flow to Net Income	1.28	-7.85	1.32	1.51	0.86	0.84	1.33	0.94	0.86	1.22	1.31	1.35	1.42	1.09	1.22
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -