Marriott International, Inc.

MAR

MARMarriott International, Inc. US flag

NASDAQ Global Select

399.10

USD

-1.53

- -

105.24BMarket Cap

Income Statement (USD)

MCP API Chat

	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	12,317	11,814	12,784	13,796	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100	26,186
+ Sales & Services Revenue	12,317	11,814	12,784	13,796	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100	26,186
- Cost of Revenue	11,039	10,190	11,020	11,830	12,363	12,735	16,639	17,084	17,755	9,112	11,056	16,215	18,733	20,128	20,964
+ Cost of Goods & Services	11,039	10,190	11,020	11,830	12,363	12,735	16,639	17,084	17,755	9,112	11,056	16,215	18,733	20,128	20,964
Gross Profit	1,278	1,624	1,764	1,966	2,123	2,672	3,813	3,674	3,217	1,459	2,801	4,558	4,980	4,972	5,222
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	752	684	776	807	773	862	1,150	1,153	1,279	1,108	1,043	1,084	1,056	1,128	1,083
+ Selling, General & Admin	752	582	649	659	634	743	921	927	938	762	823	891	867	945	870
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	102	127	148	139	119	229	226	341	346	220	193	189	183	213
Operating Income (Loss)	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139
- Non-Operating (Income) Loss	170	91	91	71	95	571	-319	176	339	817	578	360	546	693	745
+ Interest Expense, Net	150	120	97	85	138	199	250	318	368	418	392	377	535	655	767
+ Interest Expense	164	137	120	115	167	234	288	340	394	445	420	403	565	695	809
- Interest Income	14	17	23	30	29	35	38	22	26	27	28	26	30	40	42
+ Other Non-Op (Income) Loss	20	-29	-6	-14	-43	372	-569	-142	-29	399	186	-17	11	38	-22
Pretax Income	356	849	897	1,088	1,255	1,239	2,982	2,345	1,599	-466	1,180	3,114	3,378	3,151	3,394
- Income Tax Expense (Benefit)	158	278	271	335	396	431	1,523	438	326	-199	81	756	295	776	793
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	198	571	626	753	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375	2,601
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	198	571	626	753	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375	2,601
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	198	571	626	753	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375	2,601
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	198	571	626	753	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375	2,601
EBIT	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139
EBITDA	670	1,042	1,115	1,307	1,489	1,969	2,942	2,805	2,341	829	2,053	3,874	4,360	4,336	4,738
EBITDA Margin (%)	5.44	8.82	8.72	9.47	10.28	12.78	14.38	13.51	11.16	7.84	14.82	18.65	18.39	17.27	18.09
EBITA	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139
Gross Margin (%)	10.38	13.75	13.8	14.25	14.66	17.34	18.64	17.7	15.34	13.8	20.21	21.94	21	19.81	19.94
Operating Margin (%)	4.27	7.96	7.73	8.4	9.32	11.75	13.02	12.14	9.24	3.32	12.69	16.72	16.55	15.31	15.81
Profit Margin (%)	1.61	4.83	4.9	5.46	5.93	5.24	7.13	9.19	6.07	-2.53	7.93	11.35	13	9.46	9.93
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.38	0.59	0.64	0.77	0.95	1.29	1.28	1.55	1.84	0.48	- -	0.99	1.95	2.4	2.63
Depreciation Expense	144	102	127	148	139	159	279	284	403	478	295	400	436	492	599
Basic Weighted Avg Shares	350	323	305	290	267	291	375	350	333	326	327	324	302	284	273
Basic EPS, GAAP	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Basic EPS from Cont Ops	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Diluted Weighted Avg Shares	362	333	305	297	273	296	380	354	336	326	329	326	303	285	274
Diluted EPS, GAAP	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51
Diluted EPS from Cont Ops	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51

Balance Sheet (USD)

MCP API Chat

	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	1,324	1,475	1,903	1,610	1,384	3,371	2,740	2,706	3,127	2,825	3,626	3,313	3,311	3,485	3,584
+ Cash, Cash Equivalents & STI	102	88	126	104	96	858	383	316	225	877	1,393	507	338	396	358
+ Cash & Cash Equivalents	102	88	126	104	96	858	383	316	225	877	1,393	507	338	396	358
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	875	1,028	1,081	1,100	1,103	1,695	1,973	2,133	2,395	1,768	1,982	2,571	2,712	2,795	2,909
+ Accounts Receivable, Net	875	1,028	1,081	1,100	1,103	1,695	1,973	2,133	2,395	1,768	1,982	2,571	2,712	2,795	2,909
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	336	337	696	406	185	818	384	257	507	180	251	235	261	294	317
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	4,586	4,867	4,891	5,223	4,698	20,769	21,106	20,990	21,924	21,876	21,927	21,502	22,363	22,697	23,956
+ Property, Plant & Equip, Net	1,168	1,539	1,543	1,460	1,029	2,335	1,793	1,956	2,792	2,266	2,565	2,572	2,510	2,678	2,895
+ Property, Plant & Equip	2,095	2,530	2,448	2,378	1,926	3,320	2,890	3,473	4,093	3,154	3,415	3,446	3,400	3,559	3,842
- Accumulated Depreciation	927	991	905	918	897	985	1,097	1,517	1,301	888	850	874	890	881	947
+ LT Investments & Receivables	265	216	222	224	165	728	734	732	577	422	387	335	308	298	298
+ LT Investments	265	216	222	224	165	728	734	732	577	422	387	335	308	298	298
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	3,153	3,112	3,126	3,539	3,504	17,706	18,579	18,302	18,555	19,188	18,975	18,595	19,545	19,721	20,763
+ Total Intangible Assets	1,721	1,989	2,005	2,245	2,394	16,868	17,751	17,419	17,689	18,164	17,999	17,619	18,076	18,219	19,243
+ Goodwill	875	874	874	894	943	7,598	9,207	9,039	9,048	9,175	9,073	8,872	8,886	8,731	8,907
+ Other Intangible Assets	846	1,115	1,131	1,351	1,451	9,270	8,544	8,380	8,641	8,989	8,926	8,747	9,190	9,488	10,336
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1,432	1,123	1,121	1,294	1,110	838	828	883	866	1,024	976	976	1,469	1,502	1,520
Total Assets	5,910	6,342	6,794	6,833	6,082	24,140	23,846	23,696	25,051	24,701	25,553	24,815	25,674	26,182	27,540
+ Payables & Accruals	548	1,314	2,003	2,037	1,981	2,972	3,288	3,075	3,442	2,810	3,080	3,341	3,881	3,853	3,692
+ Accounts Payable	548	569	557	605	593	687	783	767	720	527	726	746	738	763	814
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	745	1,446	1,432	1,388	2,285	2,505	2,308	2,722	2,283	2,354	2,595	3,143	3,090	2,878
+ ST Debt	355	407	6	324	300	309	398	833	977	1,173	805	684	553	1,309	1,209
+ ST Borrowings	355	407	6	324	300	309	398	833	977	1,173	805	684	553	1,309	1,209
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	1,655	1,052	666	677	952	1,866	2,121	2,529	2,258	1,769	2,522	3,314	3,328	3,487	3,497
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	1,655	1,052	666	677	952	1,866	2,121	2,529	2,258	1,769	2,522	3,314	3,328	3,487	3,497
Total Current Liabilities	2,558	2,773	2,675	3,038	3,233	5,147	5,807	6,437	6,677	5,752	6,407	7,339	7,762	8,649	8,398
+ LT Debt	1,816	2,528	3,147	3,447	3,807	8,197	7,840	8,514	10,845	10,026	10,431	10,414	12,207	13,932	15,874
+ LT Borrowings	1,816	2,528	3,147	3,447	3,807	8,197	7,840	8,514	9,963	9,203	9,333	9,380	11,320	13,138	14,995
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	882	823	1,098	1,034	887	794	879
+ Other LT Liabilities	2,317	2,326	2,387	2,548	2,632	5,439	6,617	6,520	6,826	8,493	7,301	6,494	6,387	6,593	7,039
+ Accrued Liabilities	- -	- -	- -	- -	16	1,020	1,188	1,216	1,130	1,625	1,350	1,372	1,227	1,184	1,279
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2,317	2,326	2,387	2,548	2,616	4,419	5,429	5,304	5,696	6,868	5,951	5,122	5,160	5,409	5,760
Total Noncurrent Liabilities	4,133	4,854	5,534	5,995	6,439	13,636	14,457	15,034	17,671	18,519	17,732	16,908	18,594	20,525	22,913
Total Liabilities	6,691	7,627	8,209	9,033	9,672	18,783	20,264	21,471	24,348	24,271	24,139	24,247	26,356	29,174	31,311
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	2,518	2,590	2,721	2,807	2,826	5,813	5,775	5,819	5,805	5,856	5,897	5,970	6,056	6,184	6,357
+ Common Stock	5	5	5	5	5	5	5	5	5	5	5	5	5	5	5
+ Additional Paid in Capital	2,513	2,585	2,716	2,802	2,821	5,808	5,770	5,814	5,800	5,851	5,892	5,965	6,051	6,179	6,352
- Treasury Stock	6,463	7,340	7,929	9,223	11,098	6,460	9,418	12,185	14,385	14,497	14,446	17,015	20,929	24,644	27,900
+ Retained Earnings	3,212	3,509	3,837	4,286	4,878	6,501	7,242	8,982	9,644	9,206	10,305	12,342	14,838	16,531	18,414
+ Other Equity	-48	-44	-44	-70	-196	-497	-17	-391	-361	-135	-342	-729	-647	-1,063	-642
Equity Before Minority Interest	-781	-1,285	-1,415	-2,200	-3,590	5,357	3,582	2,225	703	430	1,414	568	-682	-2,992	-3,771
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-781	-1,285	-1,415	-2,200	-3,590	5,357	3,582	2,225	703	430	1,414	568	-682	-2,992	-3,771
Total Liabilities & Equity	5,910	6,342	6,794	6,833	6,082	24,140	23,846	23,696	25,051	24,701	25,553	24,815	25,674	26,182	27,540
Shares Outstanding	331	311	298	276	256	381	355	334	324	324	327	311	291	277	266
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	882	823	1,098	1,034	887	794	879
Net Debt	2,069	2,847	3,027	3,667	4,011	7,648	7,855	9,031	10,715	9,499	8,745	9,557	11,535	14,051	15,846
Net Debt to Equity	-264.92	-221.56	-213.92	-166.68	-111.73	142.77	219.29	405.89	1,524.18	2,209.07	618.46	1,682.57	-1,691.35	-469.62	-420.21
Tangible Common Equity Ratio	-59.73	-75.21	-71.41	-96.88	-162.26	-158.29	-232.47	-242.06	-230.73	-271.29	-219.55	-236.95	-246.88	-266.37	-277.38
Current Ratio	0.52	0.53	0.71	0.53	0.43	0.65	0.47	0.42	0.47	0.49	0.57	0.45	0.43	0.4	0.43
Cash Conversion Cycle	15.2	10	11.79	10.93	10.07	14.8	16.61	19.54	24.12	46.9	28.71	23.43	26.2	26.43	26.02

Cash Flow Statement (USD)

MCP API Chat

	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	198	571	626	753	859	808	1,459	1,907	1,273	-267	1,099	2,358	3,083	2,375	2,601
+ Depreciation & Amortization	144	102	127	148	139	159	279	284	403	478	295	400	436	492	599
+ Non-Cash Items	685	453	337	443	558	758	519	242	282	1,456	-327	147	-418	-36	159
+ Stock-Based Compensation	- -	94	116	109	113	212	181	184	187	201	182	192	205	237	236
+ Deferred Income Taxes	113	224	73	71	143	103	887	-239	-200	-478	-281	280	-612	-172	-277
+ Asset Impairment Charge	324	19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	248	116	148	263	302	443	-549	297	295	1,733	-228	-325	-11	-101	200
+ Chg in Non-Cash Work Cap	62	-137	50	-120	-41	-106	-30	-76	-273	-28	110	-542	69	-82	-147
+ (Inc) Dec in Accts Receiv	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Other	62	-137	50	-120	-41	-106	-30	-76	-273	-28	110	-542	69	-82	-147
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	1,089	989	1,140	1,224	1,515	1,619	2,227	2,357	1,685	1,639	1,177	2,363	3,170	2,749	3,212
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	20	65	- -	435	673	211	1,418	479	395	260	12	1	71	16	9
+ Disp of Fixed Prod Assets	20	65	- -	435	673	211	1,418	479	395	260	12	1	71	16	9
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-74	-253	-61	-65	-121	-80	-189	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	-74	-253	-61	-65	-121	-80	-189	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-1,301	-966	-635	-1,332	-1,877	-534	-3,007	-2,846	-2,253	-150	2	-2,566	-3,924	-3,689	-3,208
+ Increase in Capital Stock	124	179	199	178	40	34	6	4	7	- -	2	- -	29	73	92
+ Decrease in Capital Stock	-1,425	-1,145	-834	-1,510	-1,917	-568	-3,013	-2,850	-2,260	-150	- -	-2,566	-3,953	-3,762	-3,300
+ Net Change in LT Investment	- -	155	-65	- -	114	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	155	- -	- -	121	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	-65	- -	-7	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-137	-221	-189	186	415	-2,181	1,229	479	395	260	- -	- -	-101	- -	- -
+ Cash from Divestitures	20	65	- -	435	673	211	1,418	479	395	260	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-157	-286	-189	-249	-258	-2,392	-189	- -	- -	- -	- -	- -	-101	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-56	-331	-204	-869	-714	-296	-1,247	-1,010	-1,074	-485	-199	-298	-435	-750	-957
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-247	-585	-519	-313	367	-2,346	1,211	-52	-284	35	-187	-297	-465	-734	-948
+ Dividends Paid	-134	-191	-196	-223	-253	-374	-482	-543	-612	-156	- -	-321	-587	-682	-718
+ Net Cash From Debt	179	750	249	622	325	2,529	-250	1,120	562	1,674	-381	179	1,234	2,390	2,127
+ Cash From Debt	443	1,120	656	629	650	2,855	60	1,646	1,397	3,561	1,793	983	1,918	2,948	3,436
+ Repayments of Debt	-264	-370	-407	-7	-325	-326	-310	-526	-835	-1,887	-2,174	-804	-684	-558	-1,309
+ Other Financing Activities	11	-11	-1	- -	-85	-124	-157	-105	795	-2,401	-84	-254	413	25	-519
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-1,245	-418	-583	-933	-1,890	1,497	-3,896	-2,374	-1,508	-1,033	-463	-2,962	-2,864	-1,956	-2,318
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-403	-14	38	-22	-8	770	-458	-69	-107	641	527	-896	-159	59	-54
EBITDA	670	1,042	1,115	1,307	1,489	1,969	2,942	2,805	2,341	829	2,053	3,874	4,360	4,336	4,738
EBITDA Margin (%)	5.44	8.82	8.72	9.47	10.28	12.78	14.38	13.51	11.16	7.84	14.82	18.65	18.39	17.27	18.09
Free Cash Flow	1,015	736	1,079	1,159	1,394	1,539	2,038	2,357	1,685	1,639	1,177	2,363	3,170	2,749	3,212
Net Cash Paid for Acquisitions	137	221	189	-186	-415	2,181	-1,229	-479	-395	-260	- -	- -	101	- -	- -
Free Cash Flow to Firm	1,106	828	1,163	1,239	1,508	1,692	2,179	2,633	1,999	- -	1,568	2,668	3,686	3,273	3,832
Free Cash Flow to Equity	1,288	1,804	1,389	2,281	2,513	4,359	3,395	3,956	2,642	3,573	808	2,543	4,475	5,155	5,348
Free Cash Flow per Basic Share	2.9	2.28	3.54	4	5.22	5.29	5.43	6.73	5.06	5.03	3.6	7.28	10.51	9.67	11.77
Price/Free Cash Flow	9.09	9.99	12.53	17.97	11.18	14.39	21.34	16.31	30.15	26.22	46.23	20.53	21.55	28.94	26.43
Cash Flow to Net Income	5.5	1.73	1.82	1.63	1.76	2	1.53	1.24	1.32	-6.14	1.07	1	1.03	1.16	1.23
Capital Expenditures	-74	-253	-61	-65	-121	-80	-189	- -	- -	- -	- -	- -	- -	- -	- -