W.W. Grainger, Inc.

GWW

GWWW.W. Grainger, Inc. US flag

New York Stock Exchange

1,356.43

USD

-13.73

- -

64.04BMarket Cap

Income Statement (USD)

API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	8,078	8,950	9,438	9,965	9,973	10,137	10,425	11,221	11,486	11,797	13,022	15,228	16,478	17,168	17,942
+ Sales & Services Revenue	8,078	8,950	9,438	9,965	9,973	10,137	10,425	11,221	11,486	11,797	13,022	15,228	16,478	17,168	17,942
- Cost of Revenue	4,567	5,034	5,301	5,651	5,742	6,022	6,327	6,873	7,089	7,559	8,302	9,379	9,982	10,410	10,933
+ Cost of Goods & Services	4,567	5,034	5,301	5,651	5,742	6,022	6,327	6,873	7,089	7,559	8,302	9,379	9,982	10,410	10,933
Gross Profit	3,511	3,916	4,136	4,314	4,231	4,115	4,098	4,348	4,397	4,238	4,720	5,849	6,496	6,758	7,009
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,458	2,785	2,840	2,967	2,931	3,002	3,063	3,190	3,135	3,219	3,173	3,634	3,931	4,121	4,514
+ Selling, General & Admin	2,458	2,785	2,840	2,967	2,931	3,002	3,063	3,190	3,135	3,219	3,173	3,634	3,931	4,121	4,514
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	1,052	1,131	1,297	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637	2,495
- Non-Operating (Income) Loss	1	13	9	13	50	94	99	77	53	72	62	69	65	53	65
+ Interest Expense, Net	7	13	10	8	32	75	83	76	79	93	87	93	93	77	81
+ Interest Expense	9	16	13	10	34	76	86	82	79	93	87	93	93	77	81
- Interest Income	2	3	3	2	1	1	3	6	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-6	- -	-1	5	17	19	16	1	-26	-21	-25	-24	-28	-24	-16
Pretax Income	1,052	1,118	1,288	1,334	1,251	1,019	936	1,081	1,209	947	1,485	2,146	2,500	2,584	2,430
- Income Tax Expense (Benefit)	385	419	480	522	466	386	313	258	314	192	371	533	597	595	622
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	666	699	808	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989	1,808
- Net Extraordinary Losses (Gains)	16	18	21	21	32	54	74	82	92	120	142	132	148	160	204
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	16	18	21	21	32	54	74	82	92	120	142	132	148	160	204
Income (Loss) Incl. MI	650	681	786	791	753	579	549	741	803	635	972	1,481	1,755	1,829	1,604
- Minority Interest	-8	-9	-11	-11	-16	-27	-37	-41	-46	-60	-71	-66	-74	-80	-102
Net Income, GAAP	658	690	797	802	769	606	586	782	849	695	1,043	1,547	1,829	1,909	1,706
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	658	690	797	802	769	606	586	782	849	695	1,043	1,547	1,829	1,909	1,706
EBIT	1,052	1,131	1,297	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637	2,495
EBITDA	1,202	1,290	1,477	1,555	1,528	1,362	1,299	1,415	1,491	1,201	1,734	2,420	2,779	2,874	2,749
EBITDA Margin (%)	14.87	14.42	15.65	15.61	15.32	13.44	12.46	12.61	12.98	10.18	13.32	15.89	16.86	16.74	15.32
EBITA	1,052	1,131	1,297	1,347	1,300	1,113	1,035	1,158	1,262	1,019	1,547	2,215	2,565	2,637	2,495
Gross Margin (%)	43.46	43.76	43.83	43.29	42.43	40.59	39.31	38.75	38.28	35.92	36.25	38.41	39.42	39.36	39.06
Operating Margin (%)	13.03	12.64	13.74	13.52	13.04	10.98	9.93	10.32	10.99	8.64	11.88	14.55	15.57	15.36	13.91
Profit Margin (%)	8.15	7.71	8.45	8.05	7.71	5.98	5.62	6.97	7.39	5.89	8.01	10.16	11.1	11.12	9.51
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	2.59	3.15	3.68	4.26	4.7	5.01	5.27	5.63	6	6.32	6.88	7.27	7.86	8.61	9.75
Depreciation Expense	149	159	181	208	228	249	264	257	229	182	187	205	214	237	254
Basic Weighted Avg Shares	70	70	69	68	65	60	58	56	55	54	52	51	50	49	48
Basic EPS, GAAP	9.45	9.88	11.48	11.73	11.8	10.03	10.16	13.93	15.52	12.99	20.1	30.39	36.65	39.04	35.62
Basic EPS from Cont Ops	9.56	10.01	11.63	11.89	12.05	10.47	10.8	14.66	16.36	14.11	21.46	31.69	38.14	40.67	37.75
Diluted Weighted Avg Shares	71	71	71	69	66	61	58	57	55	54	52	51	50	49	48
Diluted EPS, GAAP	9.25	9.69	11.29	11.58	11.69	9.96	10.11	13.83	15.46	12.94	19.98	30.27	36.51	38.96	35.54
Diluted EPS from Cont Ops	9.36	9.82	11.45	11.74	11.94	10.4	10.74	14.56	16.3	14.06	21.34	31.57	37.98	40.59	37.67

Balance Sheet (USD)

API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	2,695	2,901	3,044	2,968	3,049	3,020	3,206	3,557	3,555	3,919	4,011	4,977	5,274	5,737	5,484
+ Cash, Cash Equivalents & STI	335	452	431	227	290	274	327	538	360	585	241	325	660	1,036	585
+ Cash & Cash Equivalents	335	452	431	227	290	274	327	538	360	585	241	325	660	1,036	585
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	889	940	1,102	1,173	1,210	1,223	1,325	1,385	1,425	1,474	1,754	2,133	2,192	2,232	2,329
+ Accounts Receivable, Net	889	940	1,102	1,173	1,210	1,223	1,325	1,385	1,425	1,474	1,754	2,133	2,192	2,232	2,329
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	1,269	1,302	1,306	1,356	1,414	1,406	1,429	1,541	1,655	1,733	1,870	2,253	2,266	2,306	2,394
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	1,269	1,302	1,306	1,356	1,414	1,406	1,429	1,541	1,655	1,733	1,870	2,253	2,266	2,306	2,394
+ Other ST Assets	202	207	206	212	135	117	125	93	115	127	146	266	156	163	176
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,021	2,114	2,222	2,316	2,809	2,674	2,598	2,316	2,450	2,376	2,581	2,611	2,873	3,092	3,478
+ Property, Plant & Equip, Net	1,060	1,145	1,209	1,324	1,431	1,421	1,392	1,352	1,400	1,605	1,817	1,828	2,087	2,298	2,613
+ Property, Plant & Equip	2,565	2,760	2,941	3,115	3,370	3,412	3,445	3,441	3,493	3,747	3,720	3,810	4,147	4,454	4,845
- Accumulated Depreciation	1,505	1,616	1,733	1,791	1,939	1,991	2,053	2,089	2,093	2,142	1,903	1,982	2,060	2,156	2,232
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	961	969	1,013	991	1,378	1,253	1,206	964	1,050	771	764	783	786	794	865
+ Total Intangible Assets	757	786	829	771	1,230	1,113	1,113	884	733	619	622	603	604	598	625
+ Goodwill	509	544	525	507	582	527	544	424	429	391	384	371	370	355	360
+ Other Intangible Assets	247	243	303	264	648	586	569	460	304	228	238	232	234	243	265
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	204	183	185	220	148	140	93	80	317	152	142	180	182	196	240
Total Assets	4,716	5,015	5,266	5,283	5,858	5,694	5,804	5,873	6,005	6,295	6,592	7,588	8,147	8,829	8,962
+ Payables & Accruals	679	647	736	812	867	955	1,065	976	1,064	1,069	1,143	1,573	1,399	1,404	1,398
+ Accounts Payable	478	429	511	554	583	650	731	678	719	779	816	1,047	954	952	963
+ Accrued Taxes	23	13	6	12	17	15	20	29	27	42	37	52	48	45	49
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	179	205	219	245	267	290	314	269	318	248	290	474	397	407	386
+ ST Debt	342	98	97	80	600	406	95	130	301	65	66	103	105	577	199
+ ST Borrowings	342	98	97	80	600	406	95	130	301	8	- -	35	34	499	126
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	57	66	68	71	78	73
+ Other ST Liabilities	367	336	363	370	321	267	347	395	313	307	319	334	327	324	343
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	367	336	363	370	321	267	347	395	313	307	319	334	327	324	343
Total Current Liabilities	1,388	1,080	1,196	1,262	1,789	1,629	1,507	1,501	1,678	1,441	1,528	2,010	1,831	2,305	1,940
+ LT Debt	175	467	446	403	1,388	1,841	2,248	2,090	1,914	2,551	2,696	2,602	2,647	2,606	2,663
+ LT Borrowings	175	467	446	403	1,388	1,841	2,248	2,090	1,914	2,389	2,362	2,284	2,266	2,279	2,362
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	162	334	318	381	327	301
+ Other LT Liabilities	429	350	298	334	328	319	221	189	353	210	208	241	228	215	218
+ Accrued Liabilities	100	119	114	95	154	126	111	103	106	110	121	121	104	101	121
+ Pension Liabilities	322	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	6	231	185	238	174	193	110	86	247	100	87	120	124	114	97
Total Noncurrent Liabilities	604	817	744	737	1,717	2,160	2,469	2,279	2,267	2,761	2,904	2,843	2,875	2,821	2,881
Total Liabilities	1,992	1,897	1,939	1,999	3,505	3,789	3,976	3,780	3,945	4,202	4,432	4,853	4,706	5,126	4,821
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	756	867	948	1,003	1,055	1,085	1,096	1,189	1,237	1,294	1,325	1,365	1,410	1,454	1,501
+ Common Stock	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55
+ Additional Paid in Capital	701	813	893	948	1,000	1,030	1,041	1,134	1,182	1,239	1,270	1,310	1,355	1,399	1,446
- Treasury Stock	2,904	3,176	3,549	4,033	5,370	6,128	6,676	6,966	7,633	8,184	8,855	9,445	10,285	11,499	12,558
+ Retained Earnings	4,806	5,279	5,823	6,336	6,802	7,114	7,405	7,869	8,405	8,779	9,500	10,700	12,162	13,677	14,958
+ Other Equity	-29	54	29	-97	-221	-272	-135	-171	-154	-61	-96	-180	-172	-274	-165
Equity Before Minority Interest	2,629	3,024	3,250	3,210	2,267	1,798	1,690	1,921	1,855	1,828	1,874	2,440	3,115	3,358	3,736
+ Minority/Non Controlling Interest	95	93	76	74	86	108	138	172	205	265	286	295	326	345	405
Total Equity	2,724	3,117	3,327	3,284	2,353	1,906	1,828	2,093	2,060	2,093	2,160	2,735	3,441	3,703	4,141
Total Liabilities & Equity	4,716	5,015	5,266	5,283	5,858	5,694	5,804	5,873	6,005	6,295	6,592	7,588	8,147	8,829	8,962
Shares Outstanding	70	69	69	67	62	59	56	56	54	53	51	50	49	48	47
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	219	400	386	452	405	374
Net Debt	181	113	112	257	1,699	1,973	2,016	1,682	1,855	1,812	2,121	1,994	1,640	1,742	1,903
Net Debt to Equity	6.65	3.61	3.37	7.83	72.2	103.52	110.28	80.36	90.05	86.57	98.19	72.91	47.66	47.04	45.96
Tangible Common Equity Ratio	49.7	55.13	56.29	55.7	24.25	17.3	15.24	24.23	25.17	25.97	25.76	30.52	37.61	37.72	42.17
Current Ratio	1.94	2.69	2.55	2.35	1.7	1.85	2.13	2.37	2.12	2.72	2.62	2.48	2.88	2.49	2.83
Cash Conversion Cycle	96.66	97.84	96.93	93.55	95.86	91.85	86.7	86.13	91.53	90.85	89.95	91.98	93.98	93.89	93.14

Cash Flow Statement (USD)

API ChatGPT

	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
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	666	699	808	812	785	633	623	823	895	755	1,114	1,613	1,903	1,989	1,808
+ Depreciation & Amortization	149	159	181	208	228	249	264	257	229	182	187	205	214	237	254
+ Non-Cash Items	60	87	56	105	70	100	100	211	173	356	131	131	169	161	381
+ Stock-Based Compensation	54	56	56	49	47	36	33	47	40	46	42	48	62	62	64
+ Deferred Income Taxes	2	12	-9	-14	4	-6	-5	7	4	-5	27	8	-9	-8	16
+ Asset Impairment Charge	- -	5	26	17	- -	52	28	156	123	187	- -	7	- -	- -	- -
+ Other Non-Cash Adj	4	15	-17	53	19	18	44	1	6	128	62	68	116	107	301
+ Chg in Non-Cash Work Cap	-129	-129	-58	-165	-47	42	70	-234	-255	-170	-495	-616	-255	-276	-428
+ (Inc) Dec in Accts Receiv	-85	-46	-126	-123	-3	-46	-103	-79	-42	-121	-324	-436	-98	-110	-190
+ (Inc) Dec in Inventories	-220	-15	-24	-92	-38	-4	-5	-129	-106	-158	-152	-412	-16	-77	-147
+ (Inc) Dec in Prepaid Assets	-24	8	17	-25	16	19	-5	-2	-33	-23	-15	-158	101	-36	-73
+ Inc (Dec) in Accts Payable	103	-64	66	31	30	65	185	-33	-52	95	113	443	-156	40	81
+ Inc (Dec) in Other	96	-13	9	44	-52	8	-2	9	-22	37	-117	-53	-86	-93	-99
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	746	816	986	960	1,036	1,024	1,057	1,057	1,042	1,123	937	1,333	2,031	2,111	2,015
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	7	9	27	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	7	9	27	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-197	-250	-272	-387	-374	-284	-237	-239	-221	-197	-255	-256	- -	- -	- -
+ Acq of Fixed Prod Assets	-197	-250	-272	-387	-374	-284	-237	-239	-221	-197	-255	-256	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-151	-341	-438	-525	-1,400	-790	-605	-425	-700	-601	-695	-603	-850	-1,201	-1,045
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-151	-341	-438	-525	-1,400	-790	-605	-425	-700	-601	-695	-603	-850	-1,201	-1,045
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-359	-65	-154	-31	-485	-34	-35	73	2	20	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	86	2	20	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-359	-65	-154	-31	-485	-34	-35	-13	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	14	- -	- -	34	15	56	126	- -	17	-2	29	-7	-422	-520	-645
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-535	-306	-399	-384	-843	-262	-146	-166	-202	-179	-226	-263	-422	-520	-645
+ Dividends Paid	-181	-220	-255	-291	-306	-303	-304	-316	-328	-338	-357	-370	-392	-421	-467
+ Net Cash From Debt	18	36	-26	-24	1,556	292	23	-101	-37	161	-8	2	-30	464	-290
+ Cash From Debt	391	461	145	264	1,687	592	475	26	20	1,596	- -	32	7	503	216
+ Repayments of Debt	-374	-425	-171	-288	-131	-300	-452	-127	-57	-1,435	-8	-30	-37	-39	-506
+ Other Financing Activities	136	130	129	82	42	25	19	172	42	52	21	-1	-6	-22	-23
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-177	-394	-591	-758	-109	-776	-867	-670	-1,023	-726	-1,039	-972	-1,278	-1,180	-1,825
Effect of Foreign Exchange Rates	-12	- -	-18	-22	-21	-2	9	-10	5	7	-16	-14	4	-35	4
Net Changes in Cash	34	116	-4	-182	84	-14	44	221	-183	218	-328	98	331	411	-455
EBITDA	1,202	1,290	1,477	1,555	1,528	1,362	1,299	1,415	1,491	1,201	1,734	2,420	2,779	2,874	2,749
EBITDA Margin (%)	14.87	14.42	15.65	15.61	15.32	13.44	12.46	12.61	12.98	10.18	13.32	15.89	16.86	16.74	15.32
Free Cash Flow	549	566	714	572	662	740	820	818	821	926	682	1,077	2,031	2,111	2,015
Net Cash Paid for Acquisitions	359	65	154	31	485	34	35	-73	-2	-20	- -	- -	- -	- -	- -
Free Cash Flow to Firm	555	576	723	579	683	787	877	880	879	1,000	747	1,147	2,102	2,170	2,075
Free Cash Flow to Equity	574	611	715	548	2,218	1,032	843	717	784	1,087	674	1,079	2,001	2,575	1,725
Free Cash Flow per Basic Share	7.88	8.11	10.28	8.38	10.16	12.25	14.22	14.57	15.01	17.31	13.14	21.16	40.7	43.17	42.07
Price/Free Cash Flow	14.13	13.51	14.32	13.09	9.45	10.8	10.59	12.32	14.71	16.61	22.69	17.89	20.44	24.47	24.04
Cash Flow to Net Income	1.13	1.18	1.24	1.2	1.35	1.69	1.8	1.35	1.23	1.62	0.9	0.86	1.11	1.11	1.18
Capital Expenditures	-197	-250	-272	-387	-374	-284	-237	-239	-221	-197	-255	-256	- -	- -	- -