Labcorp Holdings Inc.

LHLabcorp Holdings Inc. US flag

New York Stock Exchange

257.70

USD

+0.83

- -

21.13BMarket 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	5,542	5,671	5,808	6,012	8,680	9,553	10,308	11,333	11,555	13,978	13,136	11,864	12,162	13,009	13,952
+ Sales & Services Revenue	5,542	5,671	5,808	6,012	8,680	9,553	10,308	11,333	11,555	13,978	13,136	11,864	12,162	13,009	13,952
- Cost of Revenue	3,268	3,422	3,585	3,808	5,777	6,699	7,216	8,157	8,302	9,026	8,144	8,155	8,797	9,384	9,939
+ Cost of Goods & Services	3,268	3,422	3,585	3,808	5,777	6,699	7,216	8,157	8,302	9,026	8,144	8,155	8,797	9,384	9,939
Gross Profit	2,275	2,250	2,223	2,203	2,903	2,854	3,092	3,176	3,252	4,953	4,992	3,709	3,365	3,624	4,012
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,245	1,201	1,210	1,281	1,793	1,525	1,716	1,803	1,868	2,005	1,920	1,957	2,241	2,486	2,496
+ Selling, General & Admin	1,160	1,115	1,129	1,204	1,628	1,346	1,499	1,571	1,624	1,729	1,690	1,763	2,021	2,230	2,216
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	86	86	82	77	164	180	216	232	243	275	230	194	220	256	280
Operating Income (Loss)	1,029	1,049	1,013	922	1,111	1,329	1,376	1,374	1,385	2,948	3,073	1,752	1,124	1,138	1,516
- Non-Operating (Income) Loss	163	105	97	102	385	255	299	106	280	729	185	515	555	178	409
+ Interest Expense, Net	88	94	96	110	275	219	235	244	241	207	212	180	200	208	224
+ Interest Expense	88	94	96	110	275	219	235	244	241	207	212	180	200	208	224
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	76	10	1	-8	110	36	64	-139	39	522	-27	335	355	-30	185
Pretax Income	866	944	916	821	726	1,074	1,078	1,268	1,105	2,219	2,888	1,237	569	960	1,108
- Income Tax Expense (Benefit)	333	359	340	308	287	361	-155	384	280	662	690	234	188	212	230
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	533	585	575	513	439	713	1,233	884	825	1,557	2,198	1,004	380	747	878
- Net Extraordinary Losses (Gains)	27	3	3	3	2	2	12	- -	2	2	-178	-274	-36	2	2
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	182	277	39	- -	- -
+ Extraord. & Accounting Changes	27	3	3	3	2	2	12	- -	2	2	-359	-551	-75	2	2
Income (Loss) Incl. MI	506	581	572	510	436	711	1,221	884	823	1,555	2,375	1,278	417	745	875
- Minority Interest	-13	-2	-2	-1	-1	-1	-6	- -	-1	-1	-2	-2	-1	-1	-1
Net Income, GAAP	520	583	574	511	438	712	1,227	884	824	1,556	2,377	1,279	418	746	876
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	520	583	574	511	438	712	1,227	884	824	1,556	2,377	1,279	418	746	876
EBIT	1,029	1,049	1,013	922	1,111	1,329	1,376	1,374	1,385	2,948	3,073	1,752	1,124	1,138	1,516
EBITDA	1,261	1,279	1,243	1,168	1,568	1,828	1,909	1,926	1,962	3,573	3,650	2,289	1,701	1,782	2,197
EBITDA Margin (%)	22.75	22.54	21.4	19.42	18.07	19.14	18.52	16.99	16.98	25.56	27.78	19.3	13.99	13.69	15.75
EBITA	1,029	1,049	1,013	922	1,111	1,329	1,376	1,374	1,385	2,948	3,073	1,752	1,124	1,138	1,516
Gross Margin (%)	41.04	39.67	38.28	36.65	33.45	29.88	29.99	28.03	28.15	35.43	38.01	31.26	27.67	27.86	28.76
Operating Margin (%)	18.57	18.49	17.44	15.34	12.8	13.91	13.35	12.12	11.98	21.09	23.39	14.77	9.24	8.75	10.87
Profit Margin (%)	9.38	10.28	9.88	8.5	5.04	7.45	11.9	7.8	7.13	11.13	18.1	10.78	3.44	5.73	6.28
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.14	2.92	2.9	2.89
Depreciation Expense	231	230	230	246	458	499	533	552	577	625	577	537	577	644	681
Basic Weighted Avg Shares	98	94	86	85	99	102	102	101	98	97	97	91	87	84	83
Basic EPS, GAAP	5.31	6.24	6.7	6.03	4.43	6.94	11.98	8.71	8.41	15.99	24.58	14.04	4.8	8.89	10.53
Basic EPS from Cont Ops	5.45	6.25	6.71	6.04	4.44	6.96	12.04	8.72	8.43	16	22.73	11.02	4.37	8.9	10.55
Diluted Weighted Avg Shares	102	97	92	86	101	104	104	103	99	98	98	92	88	84	84
Diluted EPS, GAAP	5.11	5.99	6.25	5.92	4.35	6.82	11.81	8.61	8.35	15.88	24.38	13.96	4.77	8.84	10.46
Diluted EPS from Cont Ops	5.24	6	6.27	5.93	4.36	6.84	11.87	8.62	8.37	15.89	22.54	10.96	4.34	8.85	10.47

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	1,060	1,392	1,432	1,693	2,621	2,479	2,734	2,835	2,981	5,125	5,330	4,625	3,765	4,806	4,020
+ Cash, Cash Equivalents & STI	159	467	404	580	716	434	317	427	338	1,321	1,473	321	537	1,519	532
+ Cash & Cash Equivalents	159	467	404	580	716	434	317	427	338	1,321	1,473	321	537	1,519	532
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	700	718	785	816	1,374	1,519	1,848	1,862	2,025	3,017	2,978	1,997	2,099	2,097	2,261
+ Accounts Receivable, Net	700	718	785	816	1,218	1,329	1,531	1,468	1,544	2,480	2,262	1,786	1,913	1,944	2,104
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	157	190	316	394	481	537	717	212	185	153	157
+ Inventories	111	121	136	140	191	205	227	237	245	423	401	471	475	493	535
+ Raw Materials	111	121	136	140	191	205	227	237	245	423	401	471	475	493	535
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	90	86	107	158	339	321	342	309	374	365	478	1,836	655	698	693
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	5,052	5,403	5,534	5,609	11,484	11,768	13,939	13,350	15,065	14,946	15,056	15,529	12,960	13,572	14,372
+ Property, Plant & Equip, Net	578	631	707	786	1,747	1,719	1,707	1,740	2,637	2,730	2,815	2,794	2,912	3,045	3,082
+ Property, Plant & Equip	1,444	1,576	1,732	1,813	2,871	3,111	3,266	3,478	4,565	4,933	5,229	5,378	5,817	6,116	6,352
- Accumulated Depreciation	865	945	1,024	1,026	1,124	1,392	1,559	1,738	1,929	2,203	2,413	2,584	2,905	3,071	3,270
+ LT Investments & Receivables	77	78	88	93	58	58	58	60	85	74	61	66	27	16	154
+ LT Investments	77	78	88	93	58	58	58	60	85	74	61	66	27	16	154
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4,397	4,694	4,738	4,730	9,678	9,992	12,174	11,549	12,344	12,143	12,180	12,670	10,021	10,511	11,137
+ Total Intangible Assets	4,302	4,569	4,595	4,575	9,526	9,825	11,567	11,271	11,900	11,713	11,695	9,247	9,484	9,859	10,386
+ Goodwill	2,682	2,902	3,023	3,099	6,202	6,424	7,401	7,360	7,865	7,752	7,959	6,124	6,142	6,370	6,790
+ Other Intangible Assets	1,621	1,668	1,572	1,476	3,324	3,400	4,166	3,911	4,034	3,961	3,736	3,123	3,342	3,489	3,596
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	94	125	143	155	152	167	607	278	444	431	484	3,423	536	652	751
Total Assets	6,112	6,795	6,966	7,302	14,105	14,247	16,673	16,185	18,046	20,072	20,385	20,155	16,725	18,379	18,393
+ Payables & Accruals	408	371	425	425	777	756	955	1,077	1,100	1,373	1,290	1,195	1,200	1,252	1,265
+ Accounts Payable	258	237	304	282	497	508	574	635	632	639	621	852	828	876	841
+ Accrued Taxes	36	24	24	32	84	61	71	125	157	375	240	106	128	153	160
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	115	110	96	111	196	186	310	318	311	360	429	237	245	223	264
+ ST Debt	136	480	111	347	424	550	418	18	630	575	199	471	1,172	1,191	696
+ ST Borrowings	136	480	111	344	418	541	409	10	415	377	2	301	1,000	1,000	500
+ ST Finance Leases	- -	- -	- -	3	5	8	8	8	215	199	198	170	172	191	196
+ Other ST Liabilities	189	178	199	204	500	522	814	784	926	1,130	1,294	1,413	853	888	863
+ Deferred Revenue	- -	- -	- -	- -	146	176	381	356	451	506	558	311	422	392	439
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	10	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	189	178	190	199	354	346	433	428	475	623	736	1,102	431	495	424
Total Current Liabilities	733	1,028	736	976	1,700	1,828	2,186	1,879	2,656	3,078	2,783	3,078	3,225	3,330	2,824
+ LT Debt	2,086	2,175	2,889	2,683	5,940	5,300	6,345	6,042	6,478	6,181	6,144	5,775	4,782	6,082	5,830
+ LT Borrowings	2,086	2,175	2,875	2,644	5,885	5,244	6,287	5,991	5,790	5,419	5,416	5,039	4,055	5,331	5,085
+ LT Finance Leases	- -	- -	14	39	56	56	58	51	688	762	727	736	728	751	746
+ Other LT Liabilities	770	853	830	805	1,504	1,598	1,318	1,274	1,326	1,355	1,165	1,186	827	900	1,102
+ Accrued Liabilities	484	551	604	577	1,227	1,261	940	1,004	1,020	918	867	640	525	516	605
+ Pension Liabilities	53	61	61	27	20	6	7	6	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	234	241	166	201	257	332	370	263	306	437	298	546	302	385	497
Total Noncurrent Liabilities	2,856	3,028	3,720	3,487	7,444	6,898	7,662	7,316	7,804	7,536	7,308	6,961	5,609	6,982	6,932
Total Liabilities	3,588	4,057	4,455	4,464	9,145	8,726	9,848	9,195	10,459	10,614	10,091	10,040	8,835	10,312	9,756
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	12	11	10	10	1,986	2,144	2,002	1,463	36	119	8	8	46	10	8
+ Common Stock	12	11	10	10	12	12	12	12	9	9	8	8	8	8	8
+ Additional Paid in Capital	- -	- -	- -	- -	1,974	2,132	1,990	1,451	27	110	- -	- -	38	3	- -
- Treasury Stock	941	952	959	966	978	1,013	1,060	1,108	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	3,387	3,588	3,374	3,786	4,224	4,956	6,196	7,080	7,904	9,479	10,457	10,582	7,888	8,303	8,640
+ Other Equity	46	69	66	-10	-287	-581	-334	-463	-372	-162	-192	-493	-59	-262	-28
Equity Before Minority Interest	2,504	2,717	2,491	2,820	4,945	5,506	6,804	6,971	7,567	9,437	10,273	10,097	7,875	8,052	8,620
+ Minority/Non Controlling Interest	20	21	19	18	15	15	21	19	20	21	21	19	16	14	17
Total Equity	2,524	2,738	2,511	2,838	4,960	5,521	6,825	6,990	7,587	9,457	10,294	10,116	7,890	8,066	8,637
Total Liabilities & Equity	6,112	6,795	6,966	7,302	14,105	14,247	16,673	16,185	18,046	20,072	20,385	20,155	16,725	18,379	18,393
Shares Outstanding	98	94	86	85	101	103	102	99	97	98	93	88	84	83	82
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	15	42	61	65	66	59	903	961	925	906	900	941	941
Net Debt	2,062	2,188	2,582	2,407	5,587	5,351	6,379	5,574	5,868	4,475	3,945	5,020	4,518	4,813	5,052
Net Debt to Equity	81.69	79.92	102.83	84.82	112.64	96.93	93.47	79.74	77.34	47.32	38.33	49.62	57.25	59.66	58.5
Tangible Common Equity Ratio	-98.31	-82.28	-87.9	-63.71	-99.71	-97.33	-92.87	-87.12	-70.16	-26.98	-16.13	7.97	-22.01	-21.03	-21.84
Current Ratio	1.45	1.35	1.95	1.73	1.54	1.36	1.25	1.51	1.12	1.66	1.92	1.5	1.17	1.44	1.42
Cash Conversion Cycle	27.86	31.7	32.9	33.71	28.78	32.1	34.28	31.68	30.34	40.83	56.03	49.07	40.28	39.88	40.44

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	533	585	575	513	439	713	1,233	884	825	1,557	2,198	1,004	380	747	878
+ Depreciation & Amortization	231	230	230	246	458	499	533	552	577	625	577	537	577	644	681
+ Non-Cash Items	64	102	88	57	114	158	-390	-60	337	810	226	600	606	349	608
+ Stock-Based Compensation	49	41	37	46	102	110	110	92	107	112	133	117	129	117	126
+ Deferred Income Taxes	2	53	56	28	-34	55	-526	22	29	-47	-37	26	-78	-20	98
+ Asset Impairment Charge	- -	- -	- -	- -	40	- -	24	- -	- -	462	- -	262	349	5	4
+ Other Non-Cash Adj	12	8	-6	-16	7	-6	2	-174	201	284	130	196	207	247	380
+ Chg in Non-Cash Work Cap	28	-75	-74	-76	-28	-173	122	-70	-294	-857	-154	-376	-362	-154	-526
+ (Inc) Dec in Accts Receiv	-37	1	-68	-31	-89	-90	-9	-31	-123	-956	226	23	-75	-22	-122
+ (Inc) Dec in Inventories	-6	-6	-15	- -	- -	-10	-16	-19	-22	-197	3	-46	-1	-13	-30
+ (Inc) Dec in Prepaid Assets	10	7	-32	-13	62	-26	20	-58	-43	-5	-42	-244	-26	-54	-25
+ Inc (Dec) in Accts Payable	61	-76	41	-32	-7	-66	70	71	-145	253	-345	-178	-366	-40	-383
+ Inc (Dec) in Other	- -	- -	- -	- -	5	19	59	-34	38	48	4	68	106	-25	35
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	263	191	125	- -	- -
Cash from Operating Activities	856	841	819	739	982	1,197	1,498	1,305	1,445	2,135	3,110	1,956	1,328	1,586	1,640
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-2	- -	- -	- -	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	-2	- -	- -	- -	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-526	-431	-842	-154	99	27	-264	-631	-385	-44	-1,617	-1,049	-946	-250	-450
+ Increase in Capital Stock	118	86	174	115	99	71	74	69	65	56	52	51	54	- -	- -
+ Decrease in Capital Stock	-644	-516	-1,016	-269	- -	-44	-338	-700	-450	-100	-1,668	-1,100	-1,000	-250	-450
+ Net Change in LT Investment	- -	- -	8	32	8	14	-36	-4	-16	-36	-15	-9	-22	-55	-192
+ Dec in LT Investment	- -	- -	8	32	8	14	- -	18	11	4	13	8	7	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	-36	-22	-28	-40	-28	-17	-29	-55	-192
+ Net Cash From Acq & Div	-138	-361	-166	-180	-3,748	-561	-1,883	540	-874	-268	-497	-1,162	-665	-824	-575
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	658	2	- -	- -	2	7	15	7
+ Cash for Acq of Subs	-138	-361	-166	-180	-3,748	-561	-1,883	-118	-876	-268	-497	-1,164	-672	-839	-582
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-142	-171	-201	-202	-255	-248	-307	-330	-392	-340	-373	-480	-484	-488	-426
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-39	-53	-25	- -	- -
Cash from Investing Activities	-280	-534	-360	-350	-3,995	-796	-2,229	207	-1,283	-643	-885	-1,652	-1,172	-1,367	-1,194
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-195	-254	-243	-241
+ Net Cash From Debt	29	-433	-84	-20	3,049	-793	-435	-1,162	-285	-564	-375	- -	-300	1,000	-1,000
+ Cash From Debt	880	1,305	1,112	- -	4,360	140	3,342	467	2,395	152	1,000	1,575	2,488	4,464	65
+ Repayments of Debt	-851	-1,738	-1,196	-20	-1,311	-932	-3,778	-1,629	-2,680	-716	-1,375	-1,575	-2,788	-3,464	-1,065
+ Other Financing Activities	-148	863	407	-26	36	95	1,293	403	418	91	-74	-78	1,440	273	234
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-645	-1	-518	-201	3,185	-671	593	-1,390	-253	-517	-2,066	-1,322	-59	780	-1,457
Effect of Foreign Exchange Rates	-2	1	-4	-12	-36	-13	20	-12	2	9	-7	-24	10	-17	24
Net Changes in Cash	-70	306	-59	188	172	-270	-137	122	-91	975	159	-1,018	97	999	-1,010
EBITDA	1,261	1,279	1,243	1,168	1,568	1,828	1,909	1,926	1,962	3,573	3,650	2,289	1,701	1,782	2,197
EBITDA Margin (%)	22.75	22.54	21.4	19.42	18.07	19.14	18.52	16.99	16.98	25.56	27.78	19.3	13.99	13.69	15.75
Free Cash Flow	856	839	819	739	982	1,197	1,496	1,305	1,445	2,135	3,110	1,956	1,328	1,586	1,640
Net Cash Paid for Acquisitions	138	361	166	180	3,748	561	1,883	-540	874	268	497	1,162	665	824	575
Free Cash Flow to Firm	909	897	879	807	1,149	1,343	- -	1,476	1,624	2,281	3,271	2,102	1,461	1,748	1,818
Free Cash Flow to Equity	885	408	735	719	4,032	404	1,063	143	1,160	1,571	2,735	1,956	1,028	2,586	640
Free Cash Flow per Basic Share	8.75	8.97	9.55	8.71	9.94	11.68	14.61	12.87	14.76	21.95	32.16	21.47	15.24	18.9	19.72
Price/Free Cash Flow	8.79	8.59	8.8	10.84	10.88	9.61	9.49	8.53	9.92	8.03	8.46	9.47	15	12.2	12.82
Cash Flow to Net Income	1.65	1.44	1.43	1.45	2.24	1.68	1.22	1.48	1.75	1.37	1.31	1.53	3.18	2.13	1.87
Capital Expenditures	- -	-2	- -	- -	- -	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -