The Kroger Co.

KRThe Kroger Co. US flag

New York Stock Exchange

61.23

USD

-0.33

- -

37.75BMarket Cap

Income Statement (USD)

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	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	2026 Y
Sales/Revenue/Turnover	90,269	96,619	98,375	108,465	109,830	115,337	123,280	121,852	122,286	132,498	137,888	148,258	150,039	147,123	147,642
+ Sales & Services Revenue	90,269	96,619	98,375	108,465	109,830	115,337	123,280	121,852	122,286	132,498	137,888	148,258	150,039	147,123	147,642
- Cost of Revenue	71,389	76,726	78,138	85,512	85,496	89,502	95,811	95,103	95,294	101,597	107,539	116,480	116,675	113,720	113,240
+ Cost of Goods & Services	71,389	76,726	78,138	85,512	85,496	89,502	95,811	95,103	95,294	101,597	107,539	116,480	116,675	113,720	113,240
Gross Profit	18,880	19,893	20,237	22,953	24,334	25,835	27,469	26,749	26,992	30,901	30,349	31,778	33,364	33,403	34,402
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	17,602	17,129	17,512	19,816	20,758	22,383	24,857	24,135	24,741	28,121	26,872	27,652	30,268	29,554	32,512
+ Selling, General & Admin	619	628	613	707	723	881	911	884	884	874	845	839	891	877	872
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	16,983	16,501	16,899	19,109	20,035	21,502	23,946	23,251	23,857	27,247	26,027	26,813	29,377	28,677	31,640
Operating Income (Loss)	1,278	2,764	2,725	3,137	3,576	3,452	2,612	2,614	2,251	2,780	3,477	4,126	3,096	3,849	1,890
- Non-Operating (Income) Loss	435	462	443	488	482	538	1,128	-1,364	270	-590	1,426	1,224	260	507	690
+ Interest Expense, Net	435	462	443	488	482	522	601	620	603	544	571	535	441	450	639
+ Interest Expense	435	462	443	488	482	522	601	620	603	544	571	535	441	450	639
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	16	527	-1,984	-333	-1,134	855	689	-181	57	51
Pretax Income	843	2,302	2,282	2,649	3,094	2,914	1,484	3,978	1,981	3,370	2,051	2,902	2,836	3,342	1,200
- Income Tax Expense (Benefit)	247	794	751	902	1,045	957	-405	900	469	782	385	653	667	670	176
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	596	1,508	1,531	1,747	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672	1,024
- Net Extraordinary Losses (Gains)	-12	22	24	38	20	-36	-36	-64	-294	6	22	10	10	14	16
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-12	22	24	38	20	-36	-36	-64	-294	6	22	10	10	14	16
Income (Loss) Incl. MI	608	1,486	1,507	1,709	2,029	1,993	1,925	3,142	1,806	2,582	1,644	2,239	2,159	2,658	1,008
- Minority Interest	6	-11	-12	-19	-10	18	18	32	147	-3	-11	-5	-5	-7	-8
Net Income, GAAP	602	1,497	1,519	1,728	2,039	1,975	1,907	3,110	1,659	2,585	1,655	2,244	2,164	2,665	1,016
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	602	1,497	1,519	1,728	2,039	1,975	1,907	3,110	1,659	2,585	1,655	2,244	2,164	2,665	1,016
EBIT	1,278	2,764	2,725	3,137	3,576	3,452	2,612	2,614	2,251	2,780	3,477	4,126	3,096	3,849	1,890
EBITDA	2,916	4,416	4,428	5,085	5,665	5,792	5,048	5,079	5,540	6,153	6,906	7,705	6,846	7,698	5,810
EBITDA Margin (%)	3.23	4.57	4.5	4.69	5.16	5.02	4.09	4.17	4.53	4.64	5.01	5.2	4.56	5.23	3.94
EBITA	1,278	2,764	2,725	3,137	3,576	3,452	2,612	2,614	2,251	2,780	3,477	4,126	3,096	3,849	1,890
Gross Margin (%)	20.92	20.59	20.57	21.16	22.16	22.4	22.28	21.95	22.07	23.32	22.01	21.43	22.24	22.7	23.3
Operating Margin (%)	1.42	2.86	2.77	2.89	3.26	2.99	2.12	2.15	1.84	2.1	2.52	2.78	2.06	2.62	1.28
Profit Margin (%)	0.67	1.55	1.54	1.59	1.86	1.71	1.55	2.55	1.36	1.95	1.2	1.51	1.44	1.81	0.69
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.22	0.25	0.31	0.34	0.4	0.46	0.49	0.54	0.61	0.69	0.79	0.95	1.11	1.23	1.36
Depreciation Expense	1,638	1,652	1,703	1,948	2,089	2,340	2,436	2,465	3,289	3,373	3,429	3,579	3,750	3,849	3,920
Basic Weighted Avg Shares	1,179	1,067	1,028	980	966	942	895	810	799	773	744	718	718	715	652
Basic EPS, GAAP	0.51	1.4	1.48	1.76	2.11	2.1	2.13	3.84	2.08	3.34	2.22	3.13	3.01	3.73	1.56
Basic EPS from Cont Ops	0.51	1.41	1.49	1.78	2.12	2.08	2.11	3.8	1.89	3.35	2.24	3.13	3.02	3.74	1.57
Diluted Weighted Avg Shares	1,186	1,073	1,040	994	980	958	904	818	805	781	754	727	725	720	655
Diluted EPS, GAAP	0.51	1.39	1.46	1.74	2.08	2.06	2.11	3.8	2.06	3.31	2.19	3.09	2.98	3.7	1.55
Diluted EPS from Cont Ops	0.5	1.41	1.47	1.76	2.09	2.04	2.09	3.76	1.88	3.31	2.21	3.09	2.99	3.71	1.56

Balance Sheet (USD)

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	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	2026 Y
Total Current Assets	7,325	7,959	8,830	8,911	9,892	10,340	11,117	10,803	10,890	12,503	12,174	12,670	12,948	15,273	14,505
+ Cash, Cash Equivalents & STI	974	1,193	1,359	1,256	1,200	1,232	1,508	1,610	1,578	2,783	2,903	2,142	3,098	5,271	4,578
+ Cash & Cash Equivalents	188	238	401	268	277	322	347	429	399	1,687	1,821	1,015	1,883	3,959	3,334
+ ST Investments	786	955	958	988	923	910	1,161	1,181	1,179	1,096	1,082	1,127	1,215	1,312	1,244
+ Accounts & Notes Receiv	949	1,051	1,116	1,266	1,734	1,649	1,637	1,589	1,706	1,781	1,828	2,234	2,136	2,195	2,192
+ Accounts Receivable, Net	949	1,051	1,116	1,266	1,734	1,649	1,637	1,589	1,706	1,781	1,828	2,234	2,136	2,195	2,192
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	5,114	5,146	5,651	5,688	6,168	6,561	6,533	6,846	7,084	7,063	6,783	7,560	7,105	7,038	6,892
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	-1,043	-1,098	-1,150	-1,245	-1,272	-1,291	-1,248	-1,277	-1,380	-1,373	-1,570	-2,196	-2,309	-2,404	-2,553
+ Other Inventory	6,157	6,244	6,801	6,933	7,440	7,852	7,781	8,123	8,464	8,436	8,353	9,756	9,414	9,442	9,445
+ Other ST Assets	288	569	704	701	790	898	1,439	758	522	876	660	734	609	769	843
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	16,151	16,675	20,451	21,586	24,005	26,165	26,080	27,315	34,366	36,159	36,912	36,953	37,557	37,343	35,448
+ Property, Plant & Equip, Net	14,464	14,848	16,893	17,912	19,619	21,016	21,071	21,635	28,685	29,182	30,484	31,388	31,922	32,542	30,942
+ Property, Plant & Equip	28,071	29,343	32,379	34,540	37,667	40,588	41,731	43,864	52,661	52,819	56,582	60,030	63,385	66,911	66,705
- Accumulated Depreciation	13,607	14,495	15,486	16,628	18,048	19,572	20,660	22,229	23,976	23,637	26,098	28,642	31,463	34,369	35,763
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	1,687	1,827	3,558	3,674	4,386	5,149	5,009	5,680	5,681	6,977	6,428	5,565	5,635	4,801	4,506
+ Total Intangible Assets	1,138	1,364	2,837	3,061	3,777	4,184	4,025	4,345	4,142	4,073	4,018	3,815	3,815	3,508	3,403
+ Goodwill	1,138	1,234	2,135	2,304	2,724	3,031	2,925	3,087	3,076	3,076	3,076	2,916	2,916	2,674	2,595
+ Other Intangible Assets	- -	130	702	757	1,053	1,153	1,100	1,258	1,066	997	942	899	899	834	808
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	549	463	721	613	609	965	984	1,335	1,539	2,904	2,410	1,750	1,820	1,293	1,103
Total Assets	23,476	24,634	29,281	30,497	33,897	36,505	37,197	38,118	45,256	48,662	49,086	49,623	50,505	52,616	49,953
+ Payables & Accruals	5,385	5,501	6,031	6,343	7,154	7,052	6,957	7,286	7,517	8,092	8,853	11,925	11,704	11,454	11,755
+ Accounts Payable	4,329	4,484	4,881	5,052	5,728	5,818	5,858	6,059	6,349	6,679	7,117	10,179	10,381	10,124	10,488
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1,056	1,017	1,150	1,291	1,426	1,234	1,099	1,227	1,168	1,413	1,736	1,746	1,323	1,330	1,267
+ ST Debt	1,315	2,734	1,657	1,874	2,370	2,252	3,560	3,157	2,562	1,578	1,205	1,972	868	871	2,467
+ ST Borrowings	1,275	2,700	1,616	1,844	2,318	2,197	3,509	3,103	1,926	844	451	1,153	25	104	1,366
+ ST Finance Leases	40	34	41	30	52	55	51	54	636	734	754	819	843	767	1,101
+ Other ST Liabilities	2,405	2,826	3,017	3,175	3,447	3,556	3,680	3,831	4,164	5,696	6,265	3,341	3,486	3,615	3,886
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	190	288	248	287	221	251	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	2,215	2,538	2,769	2,888	3,226	3,305	3,680	3,831	4,164	5,696	6,265	3,341	3,486	3,615	3,886
Total Current Liabilities	9,105	11,061	10,705	11,392	12,971	12,860	14,197	14,274	14,243	15,366	16,323	17,238	16,058	15,940	18,108
+ LT Debt	6,850	6,145	9,653	9,723	9,709	11,825	12,029	12,072	18,616	19,009	19,235	18,440	18,379	24,211	22,225
+ LT Borrowings	6,468	5,776	9,164	9,182	9,078	11,118	11,278	11,248	11,330	11,566	11,294	10,139	10,162	15,805	14,509
+ LT Finance Leases	382	369	489	541	631	707	751	824	7,286	7,443	7,941	8,301	8,217	8,406	7,716
+ Other LT Liabilities	3,555	3,214	3,528	3,940	4,419	5,110	4,066	3,937	3,824	4,737	4,099	3,931	4,467	4,184	3,684
+ Accrued Liabilities	647	796	1,381	1,209	1,752	1,927	1,568	1,562	1,466	1,542	1,562	1,672	1,579	1,417	1,094
+ Pension Liabilities	1,393	1,291	901	1,463	1,380	1,524	792	494	608	535	478	436	385	387	421
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	1,515	1,127	1,246	1,268	1,287	1,659	1,706	1,881	1,750	2,660	2,059	1,823	2,503	2,380	2,169
Total Noncurrent Liabilities	10,405	9,359	13,181	13,663	14,128	16,935	16,095	16,009	22,440	23,746	23,334	22,371	22,846	28,395	25,909
Total Liabilities	19,510	20,420	23,886	25,055	27,099	29,795	30,292	30,283	36,683	39,112	39,657	39,609	38,904	44,335	44,017
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	4,386	4,410	4,508	4,666	4,898	4,988	5,079	5,163	5,255	5,379	5,575	5,723	5,840	5,005	5,825
+ Common Stock	959	959	959	1,918	1,918	1,918	1,918	1,918	1,918	1,918	1,918	1,918	1,918	1,918	1,918
+ Additional Paid in Capital	3,427	3,451	3,549	2,748	2,980	3,070	3,161	3,245	3,337	3,461	3,657	3,805	3,922	3,087	3,907
- Treasury Stock	8,132	9,237	9,641	10,809	11,409	13,118	14,684	16,612	16,991	18,191	19,722	20,650	20,682	24,823	28,113
+ Retained Earnings	8,571	9,787	10,981	12,367	14,011	15,543	17,007	19,681	20,978	23,018	24,066	25,601	26,946	28,724	28,850
+ Other Equity	-844	-753	-464	-812	-680	-715	-471	-346	-640	-630	-467	-632	-489	-621	-635
Equity Before Minority Interest	3,981	4,207	5,384	5,412	6,820	6,698	6,931	7,886	8,602	9,576	9,452	10,042	11,615	8,285	5,927
+ Minority/Non Controlling Interest	-15	7	11	30	-22	12	-26	-51	-29	-26	-23	-28	-14	-4	9
Total Equity	3,966	4,214	5,395	5,442	6,798	6,710	6,905	7,835	8,573	9,550	9,429	10,014	11,601	8,281	5,936
Total Liabilities & Equity	23,476	24,634	29,281	30,497	33,897	36,505	37,197	38,118	45,256	48,662	49,086	49,623	50,505	52,616	49,953
Shares Outstanding	1,122	1,028	1,016	974	967	924	870	798	788	758	727	716	720	660	615
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	422	403	530	571	683	762	802	878	7,922	8,177	8,695	9,120	9,060	9,173	8,817
Net Debt	7,555	8,238	10,379	10,758	11,119	12,993	14,440	13,922	12,857	10,723	9,924	10,277	8,304	11,950	12,541
Net Debt to Equity	190.49	195.49	192.38	197.68	163.56	193.64	209.12	177.69	149.97	112.28	105.25	102.63	71.58	144.31	211.27
Tangible Common Equity Ratio	12.66	12.25	9.67	8.68	10.03	7.82	8.68	10.33	10.78	12.28	12.01	13.53	16.68	9.72	5.44
Current Ratio	0.8	0.72	0.82	0.78	0.76	0.8	0.78	0.76	0.76	0.81	0.75	0.74	0.81	0.96	0.8
Cash Conversion Cycle	7.57	7.23	7.51	7.02	7.41	7.87	7.56	7.71	7.89	6.81	4.8	0.55	-4.03	-4.86	-5.39

Cash Flow Statement (USD)

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	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	2026 Y
+ Net Income	596	1,508	1,531	1,747	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672	1,024
+ Depreciation & Amortization	1,638	1,652	1,703	1,948	2,089	2,340	2,436	2,465	3,289	3,373	3,429	3,579	3,750	3,849	3,920
+ Non-Cash Items	386	372	291	539	708	453	-771	-1,865	470	-687	1,324	1,863	61	285	2,697
+ Stock-Based Compensation	81	82	107	155	165	141	151	154	155	185	203	190	172	175	157
+ Deferred Income Taxes	31	176	72	73	317	201	-694	-45	-56	73	-31	161	-155	-102	-330
+ Asset Impairment Charge	37	18	39	37	46	- -	181	56	120	70	64	232	69	98	2,684
+ Other Non-Cash Adj	237	96	73	274	180	111	-409	-2,030	251	-1,015	1,088	1,280	-25	114	186
+ Chg in Non-Cash Work Cap	38	-578	48	-19	71	-478	-141	486	-607	1,541	-229	-3,193	808	-1,012	-330
+ (Inc) Dec in Accts Receiv	-63	-126	-8	-141	-59	-110	61	-208	-36	-90	-61	-222	14	-288	113
+ (Inc) Dec in Inventories	-361	-78	-131	-147	-184	-382	-23	-354	-351	7	80	-1,370	342	-144	-86
+ (Inc) Dec in Prepaid Assets	-68	-426	-24	-25	67	-159	-224	224	-30	-259	245	-81	-16	-263	76
+ Inc (Dec) in Accts Payable	298	255	273	384	715	-102	118	629	644	1,712	769	-123	323	360	553
+ Inc (Dec) in Other	232	-203	-62	-90	-468	275	-73	195	-834	171	-1,262	-1,397	145	-677	-986
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	2,658	2,954	3,573	4,215	4,917	4,272	3,413	4,164	4,664	6,815	6,190	4,498	6,788	5,794	7,311
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1,898	-2,062	-2,330	-2,831	-3,349	-3,699	-2,809	-2,967	-3,128	-2,865	-2,614	-3,078	-3,904	-4,017	-3,855
+ Acq of Fixed Prod Assets	-1,898	-2,062	-2,330	-2,831	-3,349	-3,699	-2,809	-2,967	-3,128	-2,865	-2,614	-3,078	-3,904	-4,017	-3,855
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-1,429	-1,151	-413	-1,173	-583	-1,698	-1,582	-1,945	-410	-1,197	-1,475	-859	-12	-5,029	-2,517
+ Increase in Capital Stock	118	110	196	110	120	68	51	65	55	127	172	134	50	127	182
+ Decrease in Capital Stock	-1,547	-1,261	-609	-1,283	-703	-1,766	-1,633	-2,010	-465	-1,324	-1,647	-993	-62	-5,156	-2,699
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	-157	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	235	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	-392	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-51	-122	-2,344	-252	-168	-401	-16	1,928	327	- -	- -	- -	- -	464	52
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	2,169	327	- -	- -	- -	- -	464	52
+ Cash for Acq of Subs	-51	-122	-2,344	-252	-168	-401	-16	-241	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	41	1	-97	23	-53	225	118	10	190	51	3	63	154	325	-111
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-1,908	-2,183	-4,771	-3,060	-3,570	-3,875	-2,707	-1,186	-2,611	-2,814	-2,611	-3,015	-3,750	-3,228	-3,914
+ Dividends Paid	-257	-267	-319	-338	-385	-429	-443	-437	-486	-534	-589	-682	-796	-883	-885
+ Net Cash From Debt	276	693	2,093	226	-349	1,861	1,431	864	-1,491	302	-1,386	-552	-1,286	5,619	-497
+ Cash From Debt	823	2,138	3,548	601	1,181	3,216	2,219	2,236	813	1,049	56	- -	15	10,502	43
+ Repayments of Debt	-547	-1,445	-1,455	-375	-1,530	-1,355	-788	-1,372	-2,304	-747	-1,442	-552	-1,301	-4,883	-540
+ Other Financing Activities	23	4	- -	-3	-21	-86	-87	-1,378	304	-1,284	5	-196	-76	-197	-123
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-1,387	-721	1,361	-1,288	-1,338	-352	-681	-2,896	-2,083	-2,713	-3,445	-2,289	-2,170	-490	-4,022
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-637	50	163	-133	9	45	25	82	-30	1,288	134	-806	868	2,076	-625
EBITDA	2,916	4,416	4,428	5,085	5,665	5,792	5,048	5,079	5,540	6,153	6,906	7,705	6,846	7,698	5,810
EBITDA Margin (%)	3.23	4.57	4.5	4.69	5.16	5.02	4.09	4.17	4.53	4.64	5.01	5.2	4.56	5.23	3.94
Free Cash Flow	760	892	1,243	1,384	1,568	573	604	1,197	1,536	3,950	3,576	1,420	2,884	1,777	3,456
Net Cash Paid for Acquisitions	51	122	2,344	252	168	401	16	-1,928	-327	- -	- -	- -	- -	-464	-52
Free Cash Flow to Firm	1,068	1,195	1,540	1,706	1,887	924	- -	1,677	1,996	4,368	4,040	1,835	3,221	2,137	4,001
Free Cash Flow to Equity	1,036	1,585	3,336	1,610	1,219	2,434	2,035	2,061	45	4,252	2,190	868	1,598	7,396	2,959
Free Cash Flow per Basic Share	0.64	0.84	1.21	1.41	1.62	0.61	0.67	1.48	1.92	5.11	4.81	1.98	4.02	2.49	5.3
Price/Free Cash Flow	3.09	2.96	3.18	4.87	4.6	4.08	4.41	3.25	2.77	2.78	3.73	4.28	3.13	4.52	3.69
Cash Flow to Net Income	4.42	1.97	2.35	2.44	2.41	2.16	1.79	1.34	2.81	2.64	3.74	2	3.14	2.17	7.2
Capital Expenditures	-1,898	-2,062	-2,330	-2,831	-3,349	-3,699	-2,809	-2,967	-3,128	-2,865	-2,614	-3,078	-3,904	-4,017	-3,855