Global Payments Inc.

GPN

GPNGlobal Payments Inc. US flag

New York Stock Exchange

69.78

USD

+1.93

- -

16.52BMarket 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	1,860	2,204	2,376	2,554	2,774	2,898	3,975	3,366	4,912	7,424	8,524	8,976	7,380	7,736	7,706
+ Sales & Services Revenue	1,860	2,204	2,376	2,554	2,774	2,898	3,975	3,366	4,912	7,424	8,524	8,976	7,380	7,736	7,706
- Cost of Revenue	665	785	862	952	1,022	1,148	1,928	1,095	2,074	3,651	3,774	3,779	2,068	2,033	2,113
+ Cost of Goods & Services	665	785	862	952	1,022	1,148	1,928	1,095	2,074	3,651	3,774	3,779	2,068	2,033	2,113
Gross Profit	1,195	1,419	1,514	1,602	1,752	1,751	2,047	2,271	2,838	3,773	4,750	5,197	5,311	5,702	5,592
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	863	1,112	1,157	1,197	1,295	1,326	1,488	1,534	2,047	2,879	3,391	3,525	3,859	4,001	4,121
+ Selling, General & Admin	863	1,027	1,120	1,197	1,295	1,326	1,488	1,534	2,047	2,879	3,391	3,525	3,859	4,001	4,121
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	84	37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	332	307	357	405	457	425	559	737	791	894	1,359	1,672	1,452	1,701	1,472
- Non-Operating (Income) Loss	7	7	23	28	39	64	166	175	273	300	314	1,448	671	171	212
+ Interest Expense, Net	7	7	23	28	39	64	166	175	273	300	314	416	534	444	495
+ Interest Expense	18	17	33	42	44	69	175	196	305	344	334	449	645	603	650
- Interest Income	11	10	10	14	5	5	9	21	31	44	19	34	111	159	155
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,032	137	-273	-283
Pretax Income	324	300	334	377	417	361	393	562	518	594	1,045	224	782	1,530	1,260
- Income Tax Expense (Benefit)	95	83	96	107	108	71	-101	77	62	77	169	167	187	242	252
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	229	218	239	270	309	290	494	485	469	605	988	143	663	1,359	1,129
- Net Extraordinary Losses (Gains)	39	59	45	49	62	37	51	65	77	41	45	64	-281	-138	-215
+ Discontinued Operations	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	366	285	327
+ Extraord. & Accounting Changes	40	59	45	49	62	37	51	65	77	41	45	64	-647	-423	-543
Income (Loss) Incl. MI	190	159	194	221	247	253	443	419	392	564	943	80	944	1,497	1,344
- Minority Interest	-19	-29	-23	-25	-31	-19	-26	-33	-39	-21	-22	-32	-43	-74	-56
Net Income, GAAP	209	188	216	245	278	272	468	452	431	585	965	111	986	1,570	1,400
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	209	188	216	245	278	272	468	452	431	585	965	111	986	1,570	1,400
EBIT	332	307	357	405	457	425	559	737	791	894	1,359	1,672	1,452	1,701	1,472
EBITDA	414	406	469	528	594	613	1,010	1,260	1,670	2,508	3,050	3,335	3,229	3,564	2,887
EBITDA Margin (%)	22.25	18.44	19.74	20.65	21.42	21.15	25.41	37.43	33.99	33.79	35.79	37.15	43.76	46.07	37.47
EBITA	332	307	357	405	457	425	559	737	791	894	1,359	1,672	1,452	1,701	1,472
Gross Margin (%)	64.24	64.39	63.72	62.72	63.15	60.4	51.5	67.47	57.78	50.82	55.73	57.9	71.97	73.71	72.57
Operating Margin (%)	17.83	13.95	15.03	15.88	16.46	14.66	14.06	21.89	16.11	12.04	15.94	18.63	19.68	21.99	19.1
Profit Margin (%)	11.25	8.54	9.1	9.6	10.02	9.37	11.78	13.43	8.77	7.87	11.33	1.24	13.36	20.3	18.17
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.44	0.78	0.89	1	1	0.99	0.99
Depreciation Expense	82	99	112	122	138	188	451	523	878	1,614	1,691	1,662	1,777	1,862	1,415
Basic Weighted Avg Shares	160	158	156	144	134	132	155	159	198	299	293	275	261	254	242
Basic EPS, GAAP	1.31	1.19	1.39	1.7	2.07	2.05	3.03	2.85	2.17	1.95	3.3	0.41	3.78	6.18	5.79
Basic EPS from Cont Ops	1.43	1.38	1.53	1.87	2.31	2.19	3.19	3.05	2.37	2.02	3.38	0.52	2.54	5.34	4.67
Diluted Weighted Avg Shares	161	159	156	145	135	133	156	159	199	301	294	276	262	255	242
Diluted EPS, GAAP	1.3	1.18	1.38	1.69	2.06	2.04	3.01	2.84	2.16	1.95	3.29	0.4	3.77	6.16	5.79
Diluted EPS from Cont Ops	1.42	1.37	1.53	1.86	2.29	2.18	3.18	3.04	2.36	2.01	3.36	0.52	2.53	5.33	4.67

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	1,848	1,249	1,214	1,643	3,290	2,851	4,304	3,376	4,366	4,592	4,711	6,314	8,074	6,031	12,603
+ Cash, Cash Equivalents & STI	1,354	781	680	582	651	1,045	1,336	1,211	1,678	1,946	1,979	1,998	2,089	2,356	8,336
+ Cash & Cash Equivalents	1,354	781	680	582	651	1,045	1,336	1,211	1,678	1,946	1,979	1,998	2,089	2,356	8,336
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	167	184	191	215	203	288	302	348	895	794	946	998	1,120	788	784
+ Accounts Receivable, Net	167	183	189	215	202	282	302	348	895	794	946	998	1,120	788	784
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	1	1	1	1	1	7	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	8	10	11	7	5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	8	10	11	7	5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	319	274	332	840	2,431	1,518	2,666	1,817	1,793	1,852	1,785	3,318	4,865	2,887	3,482
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,503	1,439	1,911	2,375	2,489	7,659	8,694	9,855	40,114	39,609	40,569	38,495	42,496	40,859	40,736
+ Property, Plant & Equip, Net	256	306	348	370	374	494	588	654	1,383	1,579	1,688	1,839	2,190	1,421	1,502
+ Property, Plant & Equip	404	468	505	542	554	694	903	1,157	1,998	2,479	2,884	3,207	3,990	3,058	3,510
- Accumulated Depreciation	148	162	157	172	180	201	314	504	615	900	1,197	1,368	1,800	1,637	2,008
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	1,246	1,134	1,562	2,005	2,115	7,165	8,106	9,201	38,731	38,031	38,881	36,656	40,306	39,438	39,234
+ Total Intangible Assets	1,121	1,015	1,445	1,872	2,052	7,094	7,886	8,830	36,914	35,887	36,447	32,979	36,912	21,642	21,308
+ Goodwill	780	725	1,044	1,337	1,492	4,829	5,704	6,341	23,760	23,871	24,813	23,321	26,744	17,028	17,077
+ Other Intangible Assets	342	290	401	535	560	2,265	2,182	2,489	13,155	12,016	11,634	9,658	10,168	4,614	4,231
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	125	119	117	133	63	71	220	371	1,817	2,143	2,434	3,677	3,395	17,796	17,926
Total Assets	3,351	2,688	3,125	4,019	5,779	10,510	12,998	13,231	44,480	44,202	45,280	44,809	50,570	46,890	53,338
+ Payables & Accruals	212	292	242	241	219	332	439	457	936	898	1,222	1,158	1,420	1,407	1,580
+ Accounts Payable	20	12	18	13	23	25	47	76	148	129	262	229	290	254	278
+ Accrued Taxes	8	12	19	12	14	- -	35	51	56	14	120	104	199	266	190
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	184	268	205	216	182	306	357	330	731	756	840	825	930	886	1,111
+ ST Debt	357	292	260	458	654	514	735	816	587	1,290	666	1,997	1,684	1,582	2,324
+ ST Borrowings	357	292	260	458	654	514	735	816	498	1,186	563	1,916	1,602	1,522	2,266
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	89	104	104	80	82	60	58
+ Other ST Liabilities	876	253	202	513	2,142	1,585	2,641	1,996	2,057	2,361	2,575	3,744	5,022	3,264	3,553
+ Deferred Revenue	- -	- -	- -	- -	51	274	498	602	586	864	1,004	994	1,047	1,141	798
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	876	253	202	513	2,091	1,311	2,143	1,394	1,471	1,497	1,571	2,749	3,975	2,123	2,756
Total Current Liabilities	1,444	837	704	1,212	3,015	2,431	3,816	3,269	3,579	4,549	4,463	6,899	8,126	6,253	7,457
+ LT Debt	268	237	891	1,376	1,678	4,380	4,559	5,015	9,090	8,466	11,415	12,289	15,692	15,079	19,542
+ LT Borrowings	268	237	891	1,376	1,678	4,380	4,559	5,015	9,090	8,466	11,415	12,289	15,692	15,079	19,542
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	166	169	243	298	222	822	658	761	3,755	3,699	3,532	3,081	2,965	2,542	2,561
+ Accrued Liabilities	116	107	171	209	203	745	437	585	3,146	2,948	2,793	2,428	2,242	1,584	1,606
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	50	62	72	89	19	77	221	176	610	751	739	652	723	957	955
Total Noncurrent Liabilities	434	406	1,134	1,674	1,901	5,202	5,217	5,776	12,846	12,165	14,947	15,370	18,657	17,621	22,102
Total Liabilities	1,879	1,243	1,838	2,886	4,916	7,633	9,033	9,044	16,425	16,715	19,410	22,269	26,783	23,874	29,559
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	420	359	202	183	149	1,977	2,380	2,235	25,833	24,964	22,880	19,978	19,801	18,119	17,079
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	420	359	202	183	149	1,977	2,380	2,235	25,833	24,964	22,880	19,978	19,801	18,119	17,079
- Treasury Stock	113	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	686	843	959	816	795	1,016	1,598	2,066	2,333	2,571	2,982	2,731	3,457	4,775	5,936
+ Other Equity	79	-30	-15	-2	-186	-246	-183	-310	-311	-202	-234	-406	-259	-613	-126
Equity Before Minority Interest	1,185	1,172	1,146	997	758	2,746	3,795	3,991	27,856	27,332	25,628	22,304	22,999	22,281	22,889
+ Minority/Non Controlling Interest	287	273	141	136	106	131	171	195	199	155	241	237	788	736	891
Total Equity	1,472	1,445	1,287	1,133	864	2,877	3,965	4,186	28,055	27,487	25,869	22,540	23,788	23,017	23,779
Total Liabilities & Equity	3,351	2,688	3,125	4,019	5,779	10,510	12,998	13,231	44,480	44,202	45,280	44,809	50,570	46,890	53,338
Shares Outstanding	161	157	151	138	131	154	159	158	300	298	285	263	260	249	237
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	89	104	104	80	82	60	58
Net Debt	-730	-253	470	1,252	1,682	3,849	3,959	4,620	7,910	7,707	9,998	12,208	15,205	14,245	13,471
Net Debt to Equity	-49.57	-17.5	36.57	110.52	194.77	133.77	99.84	110.36	28.2	28.04	38.65	54.16	63.92	61.89	56.65
Tangible Common Equity Ratio	15.72	25.73	-9.43	-34.46	-31.88	-123.45	-76.69	-105.52	-117.1	-101.04	-119.75	-88.24	-96.09	5.45	7.72
Current Ratio	1.28	1.49	1.72	1.36	1.09	1.17	1.13	1.03	1.22	1.01	1.06	0.92	0.99	0.96	1.69
Cash Conversion Cycle	24.28	25.62	26.63	26.18	23.13	23.64	19.92	14.65	26.47	27.69	18.37	15.8	6.52	-3.88	-8.75

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	229	218	239	270	309	290	494	485	469	605	988	143	1,029	1,644	1,456
+ Depreciation & Amortization	82	99	112	122	138	188	451	523	878	1,614	1,691	1,662	1,777	1,862	1,415
+ Non-Cash Items	52	17	68	47	125	57	-74	143	200	184	270	1,177	106	-188	132
+ Stock-Based Compensation	16	16	18	30	21	31	39	58	90	149	181	163	209	164	154
+ Deferred Income Taxes	19	-19	33	-2	81	-18	-251	-1	-108	-166	-189	-315	-500	-346	-82
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	833	- -	- -	33
+ Other Non-Cash Adj	17	20	17	19	23	44	138	87	218	201	278	496	397	-6	27
+ Chg in Non-Cash Work Cap	347	-507	-178	-245	-142	58	-359	-45	-156	-89	-168	-738	-362	-261	-347
+ (Inc) Dec in Accts Receiv	-49	-30	-17	-30	1	-15	-14	-33	-116	56	-166	-112	-79	-10	-33
+ (Inc) Dec in Inventories	2	-2	-1	5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	4	4	-23	24	5	-52	-129	-161	-159	-271	-264	-296	-290	-221	-173
+ Inc (Dec) in Accts Payable	90	90	-33	3	-70	-82	146	66	-95	- -	133	-17	6	-29	-140
+ Inc (Dec) in Other	300	-568	-104	-246	-79	206	-362	83	214	126	129	-313	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	710	-173	241	194	430	593	512	1,106	1,391	2,314	2,781	2,244	2,550	3,058	2,657
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	11	- -	38	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	11	- -	38	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-15	-100	-175	-447	-372	-136	-35	-208	-311	-631	-2,624	-2,960	-459	-1,608	-1,231
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-15	-100	-175	-447	-372	-136	-35	-208	-311	-631	-2,624	-2,960	-459	-1,608	-1,231
+ Net Change in LT Investment	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	33	42	19	9
+ Dec in LT Investment	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	33	42	19	9
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-171	-44	-434	-427	-356	-2,034	-563	-1,260	-645	-161	-1,811	-95	-3,747	475	361
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	479	962	713
+ Cash for Acq of Subs	-171	-44	-434	-427	-356	-2,034	-563	-1,260	-645	-161	-1,811	-95	-4,226	-487	-352
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-96	-107	-96	-75	-96	-93	-211	-217	-272	-278	-482	-613	-657	-668	-600
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-267	-150	-529	-502	-441	-2,127	-736	-1,476	-917	-438	-2,294	-676	-4,361	-174	-230
+ Dividends Paid	-6	-6	-6	-6	-5	-5	-7	-6	-87	-233	-260	-274	-260	-253	-239
+ Net Cash From Debt	117	-38	653	429	348	2,387	213	470	719	59	2,380	2,203	2,825	1,300	5,093
+ Cash From Debt	397	146	1,135	2,690	2,497	6,078	1,994	2,774	7,204	2,401	7,207	10,098	11,925	9,635	12,301
+ Repayments of Debt	-280	-184	-482	-2,261	-2,149	-3,692	-1,782	-2,304	-6,485	-2,342	-4,827	-7,895	-9,100	-8,335	-7,208
+ Other Financing Activities	19	-74	-288	243	166	-288	181	32	-350	-741	98	-346	-265	-1,731	108
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	114	-218	184	219	136	1,958	352	287	-29	-1,546	-405	-1,377	1,840	-2,292	3,733
Effect of Foreign Exchange Rates	27	-31	4	-10	-56	-29	44	-42	22	82	-48	-99	13	-113	222
Net Changes in Cash	557	-542	-104	-89	125	423	129	-83	446	330	82	192	29	592	6,159
EBITDA	414	406	469	528	594	613	1,010	1,260	1,670	2,508	3,050	3,335	3,229	3,564	2,887
EBITDA Margin (%)	22.25	18.44	19.74	20.65	21.42	21.15	25.41	37.43	33.99	33.79	35.79	37.15	43.76	46.07	37.47
Free Cash Flow	710	-173	241	194	430	593	512	1,106	1,391	2,314	2,781	2,244	2,550	3,058	2,657
Net Cash Paid for Acquisitions	171	44	434	427	356	2,034	563	1,260	645	161	1,811	95	3,747	-475	-361
Free Cash Flow to Firm	723	-161	264	224	463	649	- -	1,275	1,660	2,613	3,060	2,359	3,041	3,565	3,177
Free Cash Flow to Equity	826	-211	894	624	788	2,980	763	1,576	2,110	2,373	5,161	4,447	5,375	4,358	7,750
Free Cash Flow per Basic Share	4.45	-1.1	1.55	1.35	3.21	4.48	3.31	6.97	7.02	7.73	9.5	8.15	9.76	12.02	10.99
Price/Free Cash Flow	5.89	-19.45	15.6	25.68	16.38	17.45	30.43	14.85	26.13	27.97	14.28	12.2	13.03	9.34	7.05
Cash Flow to Net Income	3.39	-0.92	1.11	0.79	1.55	2.18	1.09	2.45	3.23	3.96	2.88	20.13	2.59	1.95	1.9
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -