Gilead Sciences, Inc.

GILD

GILDGilead Sciences, Inc. US flag

NASDAQ Global Select

128.47

USD

+0.90

- -

159.50BMarket 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	8,385	9,702	11,202	24,890	32,639	30,390	26,107	22,127	22,449	24,689	27,305	27,281	27,116	28,754	29,442
+ Sales & Services Revenue	8,385	9,702	11,202	24,890	32,639	30,390	26,107	22,127	22,449	24,689	27,305	27,281	27,116	28,754	29,442
- Cost of Revenue	2,124	2,471	2,859	3,788	4,006	4,261	4,371	4,853	4,675	4,572	6,601	5,657	6,498	6,251	6,234
+ Cost of Goods & Services	2,124	2,471	2,859	3,788	4,006	4,261	4,371	4,853	4,675	4,572	6,601	5,657	6,498	6,251	6,234
Gross Profit	6,261	7,231	8,343	21,102	28,633	26,129	21,736	17,274	17,774	20,117	20,704	21,624	20,618	22,503	23,208
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,471	3,221	3,819	5,837	6,440	8,496	7,612	7,976	8,436	10,190	9,847	10,650	11,780	11,907	11,507
+ Selling, General & Admin	1,242	1,461	1,699	2,983	3,426	3,398	3,878	4,056	4,381	5,151	5,246	5,673	6,062	6,000	5,708
+ Research & Development	1,229	1,760	2,120	2,854	3,014	5,098	3,734	3,920	4,055	5,039	4,601	4,977	5,718	5,907	5,799
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	3,790	4,010	4,524	15,265	22,193	17,633	14,124	9,298	9,338	9,927	10,857	10,974	8,838	10,596	11,701
- Non-Operating (Income) Loss	139	398	316	409	534	536	595	1,499	4,178	8,258	2,579	5,160	1,979	9,906	1,905
+ Interest Expense, Net	139	361	307	412	688	964	1,118	1,077	995	984	1,001	829	568	696	675
+ Interest Expense	205	361	307	412	688	964	1,118	1,077	995	984	1,001	935	944	977	1,024
- Interest Income	67	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	106	376	281	349
+ Other Non-Op (Income) Loss	- -	37	9	-3	-154	-428	-523	422	3,183	7,274	1,578	4,331	1,411	9,210	1,230
Pretax Income	3,651	3,612	4,208	14,856	21,659	17,097	13,529	7,799	5,160	1,669	8,278	5,814	6,859	690	9,796
- Income Tax Expense (Benefit)	862	1,038	1,151	2,797	3,553	3,609	8,885	2,339	-204	1,580	2,077	1,248	1,247	211	1,286
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	2,789	2,574	3,057	12,059	18,106	13,488	4,644	5,460	5,364	89	6,201	4,566	5,612	479	8,510
- Net Extraordinary Losses (Gains)	-29	-36	-36	-84	-4	-26	32	10	-44	-68	-48	-52	-105	-1	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-29	-36	-36	-84	-4	-26	32	10	-44	-68	-48	-52	-105	-1	- -
Income (Loss) Incl. MI	2,818	2,610	3,093	12,143	18,110	13,514	4,612	5,450	5,408	157	6,249	4,618	5,717	480	8,510
- Minority Interest	15	18	18	42	2	13	-16	-5	22	34	24	26	52	- -	- -
Net Income, GAAP	2,804	2,592	3,075	12,101	18,108	13,501	4,628	5,455	5,386	123	6,225	4,592	5,665	480	8,510
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2,804	2,592	3,075	12,101	18,108	13,501	4,628	5,455	5,386	123	6,225	4,592	5,665	480	8,510
EBIT	3,790	4,010	4,524	15,265	22,193	17,633	14,124	9,298	9,338	9,927	10,857	10,974	8,838	10,596	11,701
EBITDA	4,092	4,288	4,869	16,315	23,291	18,791	15,410	10,727	10,742	11,407	12,907	13,077	11,531	13,363	14,461
EBITDA Margin (%)	48.8	44.2	43.47	65.55	71.36	61.83	59.03	48.48	47.85	46.2	47.27	47.93	42.52	46.47	49.12
EBITA	3,790	4,010	4,524	15,265	22,193	17,633	14,124	9,298	9,338	9,927	10,857	10,974	8,838	10,596	11,701
Gross Margin (%)	74.67	74.53	74.48	84.78	87.73	85.98	83.26	78.07	79.18	81.48	75.82	79.26	76.04	78.26	78.83
Operating Margin (%)	45.2	41.33	40.39	61.33	68	58.02	54.1	42.02	41.6	40.21	39.76	40.23	32.59	36.85	39.74
Profit Margin (%)	33.43	26.72	27.45	48.62	55.48	44.43	17.73	24.65	23.99	0.5	22.8	16.83	20.89	1.67	28.9
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	1.28	1.83	2.09	2.29	2.54	2.74	2.87	2.96	3.05	3.14	3.22
Depreciation Expense	302	278	345	1,050	1,098	1,158	1,286	1,429	1,404	1,480	2,050	2,103	2,693	2,767	2,760
Basic Weighted Avg Shares	1,550	1,515	1,529	1,522	1,464	1,339	1,307	1,298	1,270	1,257	1,256	1,255	1,248	1,247	1,244
Basic EPS, GAAP	1.81	1.71	2.01	7.95	12.37	10.08	3.54	4.2	4.24	0.1	4.96	3.66	4.54	0.38	6.84
Basic EPS from Cont Ops	1.8	1.7	2	7.92	12.37	10.07	3.55	4.21	4.22	0.07	4.94	3.64	4.5	0.38	6.84
Diluted Weighted Avg Shares	1,580	1,583	1,695	1,647	1,521	1,358	1,319	1,308	1,277	1,263	1,262	1,262	1,258	1,255	1,255
Diluted EPS, GAAP	1.77	1.64	1.81	7.35	11.91	9.94	3.51	4.17	4.22	0.1	4.93	3.64	4.5	0.38	6.78
Diluted EPS from Cont Ops	1.76	1.63	1.8	7.32	11.9	9.93	3.52	4.17	4.2	0.07	4.91	3.62	4.46	0.38	6.78

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	13,919	6,156	6,997	17,714	24,762	19,588	31,823	35,836	30,296	15,996	14,772	14,443	16,085	19,173	18,342
+ Cash, Cash Equivalents & STI	9,900	1,862	2,132	10,128	14,607	11,895	25,510	30,089	24,352	7,408	6,520	6,385	7,264	11,568	9,613
+ Cash & Cash Equivalents	9,884	1,804	2,113	10,027	12,851	8,229	7,588	17,940	11,631	5,997	5,338	5,412	6,085	9,991	7,564
+ ST Investments	16	59	19	101	1,756	3,666	17,922	12,149	12,721	1,411	1,182	973	1,179	1,577	2,049
+ Accounts & Notes Receiv	1,951	1,751	2,182	4,635	5,854	4,514	3,851	3,327	3,582	4,892	4,493	4,777	4,660	4,420	4,913
+ Accounts Receivable, Net	1,951	1,751	2,182	4,635	5,854	4,514	3,851	3,327	3,582	4,892	4,493	4,777	4,660	4,420	4,913
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	1,390	1,745	1,697	1,386	1,955	1,587	801	814	922	1,683	1,618	1,507	1,787	1,710	1,774
+ Raw Materials	698	827	1,049	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	466	359	413	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	226	560	593	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	-359	1,386	1,955	1,587	801	814	922	1,683	1,618	1,507	1,787	1,710	1,774
+ Other ST Assets	677	798	986	1,565	2,346	1,592	1,661	1,606	1,440	2,013	2,141	1,774	2,374	1,475	2,042
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3,384	15,083	15,582	16,950	26,954	37,389	38,460	27,839	31,331	52,411	53,180	48,727	46,040	39,823	40,681
+ Property, Plant & Equip, Net	774	1,100	1,166	1,674	2,276	2,865	3,295	4,006	4,502	4,967	5,121	5,475	5,317	5,414	5,606
+ Property, Plant & Equip	1,133	1,524	1,668	2,294	3,039	3,683	4,289	5,197	5,924	6,635	7,014	7,661	7,766	7,884	8,302
- Accumulated Depreciation	358	423	502	620	763	818	994	1,191	1,422	1,668	1,893	2,186	2,449	2,470	2,696
+ LT Investments & Receivables	64	720	439	1,598	11,601	20,485	11,184	1,423	1,488	502	1,309	1,245	1,163	- -	2,974
+ LT Investments	64	720	439	1,598	11,601	20,485	11,184	1,423	1,488	502	1,309	1,245	1,163	- -	2,974
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,546	13,263	13,977	13,678	13,077	14,039	23,981	22,410	25,341	46,942	46,750	42,007	39,560	34,409	32,101
+ Total Intangible Assets	2,067	12,797	13,069	12,245	11,419	10,143	21,259	19,855	17,903	41,234	41,787	37,207	34,768	28,262	25,292
+ Goodwill	1,004	1,061	1,169	1,172	1,172	1,172	4,159	4,117	4,117	8,108	8,332	8,314	8,314	8,314	8,314
+ Other Intangible Assets	1,063	11,736	11,900	11,073	10,247	8,971	17,100	15,738	13,786	33,126	33,455	28,893	26,454	19,948	16,978
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	479	466	908	1,433	1,658	3,896	2,722	2,555	7,438	5,708	4,963	4,800	4,792	6,147	6,809
Total Assets	17,303	21,240	22,579	34,664	51,716	56,977	70,283	63,675	61,627	68,407	67,952	63,171	62,125	58,995	59,023
+ Payables & Accruals	2,265	2,761	3,356	4,828	8,088	8,820	8,433	7,302	6,524	7,189	8,668	5,343	5,560	6,371	5,144
+ Accounts Payable	1,206	1,327	1,256	955	1,178	1,206	814	790	713	844	705	905	550	833	715
+ Accrued Taxes	41	13	11	105	65	186	713	190	287	598	539	959	1,208	1,646	92
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1,019	1,420	2,089	3,768	6,845	7,428	6,906	6,322	5,524	5,747	7,424	3,479	3,802	3,892	4,337
+ ST Debt	2	1,169	2,697	483	982	- -	2,747	2,748	2,499	2,757	1,516	2,273	1,798	1,815	2,807
+ ST Borrowings	2	1,169	2,697	483	982	- -	2,747	2,748	2,499	2,757	1,516	2,273	1,798	1,815	2,807
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	248	308	354	450	820	398	455	555	736	1,451	1,426	3,622	3,922	3,818	3,862
+ Deferred Revenue	75	103	111	134	440	202	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	173	205	243	316	380	196	455	555	736	1,451	1,426	3,622	3,922	3,818	3,862
Total Current Liabilities	2,515	4,238	6,407	5,761	9,890	9,218	11,635	10,605	9,759	11,397	11,610	11,238	11,280	12,004	11,813
+ LT Debt	7,606	7,055	3,939	11,921	21,073	26,346	30,795	24,574	22,094	28,645	25,179	22,957	23,189	24,896	22,129
+ LT Borrowings	7,606	7,055	3,939	11,921	21,073	26,346	30,795	24,574	22,094	28,645	25,179	22,957	23,189	24,896	22,129
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	315	404	488	1,163	1,640	2,050	7,352	6,962	7,124	10,144	10,099	7,767	4,907	2,849	2,463
+ Accrued Liabilities	32	31	83	51	- -	- -	- -	- -	- -	3,914	4,356	2,673	1,588	724	402
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	283	373	405	1,112	1,640	2,050	7,352	6,962	7,124	6,230	5,743	5,094	3,319	2,125	2,061
Total Noncurrent Liabilities	7,921	7,458	4,427	13,084	22,713	28,396	38,147	31,536	29,218	38,789	35,278	30,724	28,096	27,745	24,592
Total Liabilities	10,436	11,696	10,834	18,845	32,603	37,614	49,782	42,141	38,977	50,186	46,888	41,962	39,376	39,749	36,405
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	4,904	5,643	5,388	2,393	445	455	1,265	2,283	3,052	3,881	4,662	5,551	6,501	7,701	8,933
+ Common Stock	1	2	2	2	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	4,903	5,642	5,386	2,391	444	454	1,264	2,282	3,051	3,880	4,661	5,550	6,500	7,700	8,932
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	1,777	3,705	6,106	12,732	18,001	18,154	19,012	19,024	19,388	14,381	16,324	15,687	16,304	11,497	13,730
+ Other Equity	58	-46	-124	301	88	278	165	80	85	-60	83	2	28	132	39
Equity Before Minority Interest	6,739	9,303	11,370	15,426	18,534	18,887	20,442	21,387	22,525	18,202	21,069	21,240	22,833	19,330	22,702
+ Minority/Non Controlling Interest	128	241	375	393	579	476	59	147	125	19	-5	-31	-84	-84	-84
Total Equity	6,867	9,544	11,745	15,819	19,113	19,363	20,501	21,534	22,650	18,221	21,064	21,209	22,749	19,246	22,618
Total Liabilities & Equity	17,303	21,240	22,579	34,664	51,716	56,977	70,283	63,675	61,627	68,407	67,952	63,171	62,125	58,995	59,023
Shares Outstanding	1,506	1,519	1,534	1,499	1,422	1,310	1,308	1,282	1,266	1,254	1,254	1,247	1,246	1,246	1,241
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	-2,276	6,420	4,523	2,377	9,204	18,117	25,954	9,382	12,962	25,405	21,357	19,818	18,902	16,720	17,372
Net Debt to Equity	-33.15	67.27	38.51	15.03	48.16	93.57	126.6	43.57	57.23	139.43	101.39	93.44	83.09	86.88	76.81
Tangible Common Equity Ratio	31.51	-38.54	-13.92	15.94	19.09	19.69	-1.55	3.83	10.86	-84.69	-79.2	-61.62	-43.93	-29.34	-7.93
Current Ratio	5.53	1.45	1.09	3.07	2.5	2.12	2.74	3.38	3.1	1.4	1.27	1.29	1.43	1.6	1.55
Cash Conversion Cycle	141.9	137.58	116.08	82.47	125.77	102.21	55.35	59.78	66.59	113.34	110.74	109.85	116.85	118.85	114.99

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	2,789	2,574	3,057	12,059	18,106	13,488	4,644	5,460	5,364	89	6,201	4,566	5,613	480	8,510
+ Depreciation & Amortization	302	278	345	1,050	1,098	1,158	1,286	1,429	1,404	1,480	2,050	2,103	2,693	2,767	2,760
+ Non-Cash Items	336	235	265	227	551	855	860	2,450	3,174	8,237	2,644	4,166	2,003	8,461	2,697
+ Stock-Based Compensation	192	209	252	360	382	380	638	845	636	643	635	637	766	835	894
+ Deferred Income Taxes	101	74	187	248	-393	-119	-82	289	-2,098	-214	-116	-1,552	-962	-1,844	160
+ Asset Impairment Charge	27	- -	- -	- -	- -	432	- -	1,260	1,347	40	- -	2,700	50	4,180	590
+ Other Non-Cash Adj	16	-48	-174	-381	562	162	304	56	3,289	7,768	2,125	2,381	2,149	5,290	1,053
+ Chg in Non-Cash Work Cap	212	108	-562	-518	1,495	1,546	5,108	-939	-798	-1,638	489	-1,763	-2,303	-880	-3,948
+ (Inc) Dec in Accts Receiv	-376	198	-315	-2,578	-1,397	1,192	754	480	-218	-1,171	313	-406	157	139	-367
+ (Inc) Dec in Inventories	-201	-350	-343	143	-855	-488	-253	-310	-95	-195	11	-310	-842	-426	-1,036
+ (Inc) Dec in Prepaid Assets	-14	-129	-170	-371	-90	-520	358	903	-307	-214	-45	-134	39	-259	-311
+ Inc (Dec) in Accts Payable	832	366	244	2,257	3,837	1,362	4,249	-2,012	-178	-58	571	-549	111	398	-126
+ Inc (Dec) in Other	-29	23	22	31	- -	- -	- -	- -	- -	- -	-361	-364	-1,768	-732	-2,108
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	3,639	3,195	3,105	12,818	21,250	17,047	11,898	8,400	9,144	8,168	11,384	9,072	8,006	10,828	10,019
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-585	-523	-563
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-585	-523	-563
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-2,171	-201	-269	-5,018	-9,683	-10,793	-720	-2,611	-1,540	-1,327	-377	-1,087	-768	-728	-1,514
+ Increase in Capital Stock	212	466	313	331	319	208	234	289	209	256	169	309	232	422	408
+ Decrease in Capital Stock	-2,383	-667	-582	-5,349	-10,002	-11,001	-954	-2,900	-1,749	-1,583	-546	-1,396	-1,000	-1,150	-1,922
+ Net Change in LT Investment	4,310	-697	315	-1,266	-11,728	-11,237	-5,053	15,469	-2,307	11,948	-987	60	-528	1,856	-3,163
+ Dec in LT Investment	9,438	573	572	859	5,511	14,739	18,261	25,858	29,921	32,718	2,910	2,002	1,844	2,592	909
+ Inc in LT Investment	-5,128	-1,270	-257	-2,125	-17,239	-25,976	-23,314	-10,389	-32,228	-20,770	-3,897	-1,942	-2,372	-736	-4,072
+ Net Cash From Acq & Div	-589	-10,752	-379	- -	- -	- -	-10,426	- -	-4,251	-25,742	-1,584	-1,797	-1,152	-4,840	-1,070
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-589	-10,752	-379	- -	- -	- -	-10,426	- -	-4,251	-25,742	-1,584	-1,797	-1,152	-4,840	-1,070
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-132	-397	-190	-557	-747	-748	-590	-1,114	-1,259	-821	-560	-729	- -	58	3
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	3,590	-11,846	-254	-1,823	-12,475	-11,985	-16,069	14,355	-7,817	-14,615	-3,131	-2,466	-2,265	-3,449	-4,793
+ Dividends Paid	- -	- -	- -	- -	-1,874	-2,455	-2,731	-2,971	-3,222	-3,449	-3,605	-3,709	-3,809	-3,918	-4,003
+ Net Cash From Debt	4,009	519	-1,666	5,670	9,689	4,268	7,174	-6,250	-2,750	5,684	-4,750	-1,500	-270	1,494	-1,788
+ Cash From Debt	4,697	2,358	2,774	10,475	10,686	6,249	8,985	- -	- -	8,184	- -	- -	1,980	3,464	- -
+ Repayments of Debt	-688	-1,839	-4,440	-4,805	-997	-1,981	-1,811	-6,250	-2,750	-2,500	-4,750	-1,500	-2,250	-1,970	-1,788
+ Other Financing Activities	-74	245	-609	-3,677	-4,016	-745	-330	-486	-122	-138	-145	-173	-278	-281	-440
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	1,764	563	-2,544	-3,025	-5,884	-9,725	3,393	-12,318	-7,634	770	-8,877	-6,469	-5,125	-3,433	-7,745
Effect of Foreign Exchange Rates	-17	8	2	-56	-67	41	137	-85	-2	43	-35	-63	57	-40	92
Net Changes in Cash	8,992	-8,088	307	7,970	2,891	-4,663	-778	10,437	-6,307	-5,677	-624	137	616	3,946	-2,519
EBITDA	4,092	4,288	4,869	16,315	23,291	18,791	15,410	10,727	10,742	11,407	12,907	13,077	11,531	13,363	14,461
EBITDA Margin (%)	48.8	44.2	43.47	65.55	71.36	61.83	59.03	48.48	47.85	46.2	47.27	47.93	42.52	46.47	49.12
Free Cash Flow	3,639	3,195	3,105	12,818	21,250	17,047	11,898	8,400	9,144	8,168	11,384	9,072	7,421	10,305	9,456
Net Cash Paid for Acquisitions	589	10,752	379	- -	- -	- -	10,426	- -	4,251	25,742	1,584	1,797	1,152	4,840	1,070
Free Cash Flow to Firm	3,796	3,452	3,328	13,152	21,825	17,808	12,282	9,154	- -	8,220	12,134	9,806	8,193	10,983	10,346
Free Cash Flow to Equity	7,648	3,714	1,439	18,488	30,939	21,315	19,072	2,150	6,394	13,852	6,634	7,572	7,151	11,799	7,668
Free Cash Flow per Basic Share	2.35	2.11	2.03	8.42	14.52	12.73	9.1	6.47	7.2	6.5	9.06	7.23	5.95	8.26	7.6
Price/Free Cash Flow	6.35	12.99	29.27	8.65	5.23	4.22	6.04	7.65	7.4	7.64	7.12	11.05	11.4	10.21	14.56
Cash Flow to Net Income	1.3	1.23	1.01	1.06	1.17	1.26	2.57	1.54	1.7	66.41	1.83	1.98	1.41	22.56	1.18
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-585	-523	-563