Mondelez International, Inc.

MDLZ

MDLZMondelez International, Inc. US flag

NASDAQ Global Select

61.60

USD

-0.44

- -

79.07BMarket 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	35,810	35,015	35,299	34,244	29,636	25,923	25,896	25,938	25,868	26,581	28,720	31,496	36,016	36,441	38,537
+ Sales & Services Revenue	35,810	35,015	35,299	34,244	29,636	25,923	25,896	25,938	25,868	26,581	28,720	31,496	36,016	36,441	38,537
- Cost of Revenue	22,710	21,939	22,189	21,647	18,124	15,819	15,862	15,586	15,531	16,135	17,466	20,184	22,252	22,184	27,602
+ Cost of Goods & Services	22,710	21,939	22,189	21,647	18,124	15,819	15,862	15,586	15,531	16,135	17,466	20,184	22,252	22,184	27,602
Gross Profit	13,100	13,076	13,110	12,597	11,512	10,104	10,034	10,352	10,337	10,446	11,254	11,312	13,764	14,257	10,935
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	9,607	9,393	8,896	8,663	7,758	6,722	6,116	6,651	6,310	6,292	6,397	7,516	8,153	7,592	7,315
+ Selling, General & Admin	9,382	9,176	8,679	8,457	7,577	6,546	5,938	6,475	6,136	6,098	6,263	7,384	8,002	7,439	7,173
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	225	217	217	206	181	176	178	176	174	194	134	132	151	153	142
Operating Income (Loss)	3,493	3,683	4,214	3,934	3,754	3,382	3,918	3,701	4,027	4,154	4,857	3,796	5,611	6,665	3,620
- Non-Operating (Income) Loss	1,613	1,909	1,822	1,380	-4,130	1,928	794	859	580	771	488	568	-269	404	606
+ Interest Expense, Net	1,383	1,177	1,017	778	609	515	396	462	484	423	310	294	309	180	282
+ Interest Expense	1,383	1,177	1,017	778	609	515	396	462	484	423	365	428	550	508	599
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	55	134	241	328	317
+ Other Non-Op (Income) Loss	230	732	805	602	-4,739	1,413	398	397	96	348	178	274	-578	224	324
Pretax Income	1,880	1,774	2,392	2,554	7,884	1,454	3,124	2,842	3,447	3,383	4,369	3,228	5,880	6,261	3,014
- Income Tax Expense (Benefit)	116	168	60	353	593	114	666	773	2	1,224	1,190	865	1,537	1,469	782
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	1,764	1,606	2,332	2,201	7,291	1,645	2,842	3,331	3,944	3,569	4,314	2,726	4,968	4,623	2,466
- Net Extraordinary Losses (Gains)	-1,770	-1,434	-1,563	34	48	20	28	28	30	28	28	18	18	24	30
+ Discontinued Operations	1,810	1,488	1,603	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-3,580	-2,922	-3,166	34	48	20	28	28	30	28	28	18	18	24	30
Income (Loss) Incl. MI	3,534	3,040	3,895	2,167	7,243	1,625	2,814	3,303	3,914	3,541	4,286	2,708	4,950	4,599	2,436
- Minority Interest	-20	-27	-20	-17	-24	-10	-14	-14	-15	-14	-14	-9	-9	-12	-15
Net Income, GAAP	3,554	3,067	3,915	2,184	7,267	1,635	2,828	3,317	3,929	3,555	4,300	2,717	4,959	4,611	2,451
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	3,554	3,067	3,915	2,184	7,267	1,635	2,828	3,317	3,929	3,555	4,300	2,717	4,959	4,611	2,451
EBIT	3,493	3,683	4,214	3,934	3,754	3,382	3,918	3,701	4,027	4,154	4,857	3,796	5,611	6,665	3,620
EBITDA	4,978	5,028	5,291	4,993	4,648	4,205	4,734	4,512	5,074	5,270	5,970	4,903	6,826	7,967	4,978
EBITDA Margin (%)	13.9	14.36	14.99	14.58	15.68	16.22	18.28	17.4	19.61	19.83	20.79	15.57	18.95	21.86	12.92
EBITA	3,493	3,683	4,214	3,934	3,754	3,382	3,918	3,701	4,027	4,154	4,857	3,796	5,611	6,665	3,620
Gross Margin (%)	36.58	37.34	37.14	36.79	38.84	38.98	38.75	39.91	39.96	39.3	39.19	35.92	38.22	39.12	28.38
Operating Margin (%)	9.75	10.52	11.94	11.49	12.67	13.05	15.13	14.27	15.57	15.63	16.91	12.05	15.58	18.29	9.39
Profit Margin (%)	9.92	8.76	11.09	6.38	24.52	6.31	10.92	12.79	15.19	13.37	14.97	8.63	13.77	12.65	6.36
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.16	1.16	0.53	0.57	0.62	0.7	0.79	0.92	1.07	1.17	1.3	1.44	1.58	1.75	1.92
Depreciation Expense	1,485	1,345	1,077	1,059	894	823	816	811	1,047	1,116	1,113	1,107	1,215	1,302	1,358
Basic Weighted Avg Shares	1,765	1,777	1,774	1,691	1,618	1,556	1,513	1,472	1,445	1,431	1,403	1,378	1,363	1,341	1,294
Basic EPS, GAAP	2.01	1.73	2.21	1.29	4.49	1.05	1.87	2.25	2.72	2.48	3.06	1.97	3.64	3.44	1.89
Basic EPS from Cont Ops	1	0.9	1.31	1.3	4.51	1.06	1.88	2.26	2.73	2.49	3.07	1.98	3.64	3.45	1.91
Diluted Weighted Avg Shares	1,772	1,789	1,789	1,709	1,637	1,573	1,531	1,486	1,458	1,441	1,413	1,385	1,370	1,347	1,298
Diluted EPS, GAAP	2.01	1.71	2.19	1.28	4.44	1.04	1.85	2.23	2.69	2.47	3.04	1.96	3.62	3.42	1.89
Diluted EPS from Cont Ops	1	0.9	1.3	1.29	4.45	1.05	1.86	2.24	2.71	2.48	3.05	1.97	3.63	3.43	1.9

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	16,202	15,673	13,174	11,750	8,958	8,480	7,520	7,604	7,630	9,979	10,342	10,091	11,703	13,242	12,951
+ Cash, Cash Equivalents & STI	1,974	4,475	2,622	1,631	1,870	1,741	761	1,100	1,291	3,619	3,546	1,923	1,810	1,351	2,125
+ Cash & Cash Equivalents	1,974	4,475	2,622	1,631	1,870	1,741	761	1,100	1,291	3,619	3,546	1,923	1,810	1,351	2,125
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	6,361	6,129	5,403	4,751	3,846	3,470	3,526	3,006	2,927	2,954	3,188	3,907	4,512	4,811	4,858
+ Accounts Receivable, Net	6,361	6,129	4,463	3,802	2,634	2,611	2,691	2,262	2,212	2,297	2,337	3,088	3,634	3,874	3,903
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	940	949	1,212	859	835	744	715	657	851	819	878	937	955
+ Inventories	5,706	3,741	3,743	3,480	2,609	2,469	2,557	2,592	2,546	2,647	2,708	3,381	3,615	3,827	4,419
+ Raw Materials	1,800	1,213	1,165	1,215	782	722	711	726	707	718	770	1,031	973	958	1,015
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	3,906	2,528	2,578	2,434	1,930	1,865	1,975	1,987	1,953	2,059	2,054	2,501	2,790	2,869	3,404
+ Inventory Adjustments	- -	- -	- -	-169	-103	-118	-129	-121	-114	-130	-116	-151	-148	-171	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	171	- -
+ Other ST Assets	2,161	1,328	1,406	1,888	633	800	676	906	866	759	900	880	1,766	3,253	1,549
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	77,635	59,804	59,341	55,021	53,885	53,058	55,437	55,125	56,885	57,831	56,750	61,070	59,688	55,255	58,536
+ Property, Plant & Equip, Net	13,813	10,010	10,247	9,827	8,362	8,229	8,677	8,482	9,301	9,664	9,271	9,680	10,377	10,248	11,398
+ Property, Plant & Equip	23,932	16,856	17,614	16,912	14,554	14,687	15,680	15,245	16,105	16,993	16,705	16,891	18,373	18,383	20,793
- Accumulated Depreciation	10,119	6,846	7,367	7,085	6,192	6,458	7,003	6,763	6,804	7,329	7,434	7,211	7,996	8,135	9,395
+ LT Investments & Receivables	- -	- -	- -	662	5,387	5,585	6,193	7,123	7,178	6,036	5,289	4,879	3,242	635	667
+ LT Investments	- -	- -	- -	662	5,387	5,585	6,193	7,123	7,178	6,036	5,289	4,879	3,242	635	667
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	63,822	49,794	49,094	44,532	40,136	39,244	40,567	39,520	40,406	42,131	42,190	46,511	46,069	44,372	46,471
+ Total Intangible Assets	62,483	48,292	47,591	43,724	39,432	38,377	39,724	38,727	38,805	40,377	40,269	43,160	43,732	41,865	43,964
+ Goodwill	37,297	25,740	25,597	23,389	20,664	20,276	21,085	20,725	20,848	21,895	21,978	23,450	23,896	23,017	24,336
+ Other Intangible Assets	25,186	22,552	21,994	20,335	18,768	18,101	18,639	18,002	17,957	18,482	18,291	19,710	19,836	18,848	19,628
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	1,339	1,502	1,503	808	704	867	843	793	1,601	1,754	1,921	3,351	2,337	2,507	2,507
Total Assets	93,837	75,477	72,515	66,771	62,843	61,538	62,957	62,729	64,515	67,810	67,092	71,161	71,391	68,497	71,487
+ Payables & Accruals	8,388	7,126	7,663	7,346	6,524	7,063	7,433	7,550	7,689	8,339	8,827	9,932	11,004	11,991	12,926
+ Accounts Payable	5,525	4,642	5,345	5,299	4,890	5,318	5,705	5,794	5,853	6,209	6,730	7,562	8,321	9,433	10,139
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	2,863	2,484	2,318	2,047	1,634	1,745	1,728	1,756	1,836	2,130	2,097	2,370	2,683	2,558	2,787
+ ST Debt	3,836	3,851	2,597	2,835	841	3,982	4,680	5,840	4,219	2,770	1,962	2,682	2,521	2,085	3,983
+ ST Borrowings	3,836	3,851	2,597	2,835	841	3,982	4,680	5,840	4,187	2,696	1,880	2,682	2,521	2,085	3,983
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	32	74	82	95	- -	- -	- -
+ Other ST Liabilities	6,221	3,893	4,094	3,826	3,557	3,372	3,680	3,347	3,414	4,050	3,219	4,117	5,488	5,473	4,955
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	6,221	3,893	4,094	3,826	3,557	3,372	3,680	3,347	3,414	4,050	3,219	4,117	5,488	5,473	4,955
Total Current Liabilities	18,445	14,870	14,354	14,007	10,922	14,417	15,793	16,737	15,322	15,159	14,008	16,731	19,013	19,549	21,864
+ LT Debt	23,095	15,574	14,482	13,821	14,557	13,217	12,972	12,532	14,610	17,746	18,009	20,765	17,424	16,287	17,821
+ LT Borrowings	23,095	15,574	14,482	13,821	14,557	13,217	12,972	12,532	14,116	17,094	17,393	20,251	16,887	15,664	17,222
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	494	652	616	514	537	623	599
+ Other LT Liabilities	16,969	12,617	11,147	11,090	9,264	8,689	8,118	7,747	7,266	7,251	6,752	6,745	6,588	5,703	5,911
+ Accrued Liabilities	6,738	6,235	6,282	5,512	4,750	4,721	3,341	3,552	3,338	3,346	3,444	3,437	3,292	3,425	3,530
+ Pension Liabilities	6,835	3,336	2,374	3,438	2,682	2,396	2,088	1,572	1,577	1,603	982	620	561	489	496
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	3,396	3,046	2,491	2,140	1,832	1,572	2,689	2,623	2,351	2,302	2,326	2,688	2,735	1,789	1,885
Total Noncurrent Liabilities	40,064	28,191	25,629	24,911	23,821	21,906	21,090	20,279	21,876	24,997	24,761	27,510	24,012	21,990	23,732
Total Liabilities	58,509	43,061	39,983	38,918	34,743	36,323	36,883	37,016	37,198	40,156	38,769	44,241	43,025	41,539	45,596
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	31,318	31,548	31,396	31,651	31,760	31,847	31,915	31,961	32,019	32,070	32,097	32,143	32,216	32,276	32,322
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	31,318	31,548	31,396	31,651	31,760	31,847	31,915	31,961	32,019	32,070	32,097	32,143	32,216	32,276	32,322
- Treasury Stock	7,476	7,157	9,553	11,112	14,462	16,713	18,555	20,185	21,139	22,204	24,010	25,794	27,174	29,349	31,533
+ Retained Earnings	18,012	10,551	13,419	14,529	20,700	21,149	22,631	24,491	26,615	28,402	30,806	31,481	34,236	36,476	36,413
+ Other Equity	-6,637	-2,666	-2,889	-7,318	-9,986	-11,122	-9,997	-10,630	-10,254	-10,690	-10,624	-10,947	-10,946	-12,471	-11,364
Equity Before Minority Interest	35,217	32,276	32,373	27,750	28,012	25,161	25,994	25,637	27,241	27,578	28,269	26,883	28,332	26,932	25,838
+ Minority/Non Controlling Interest	111	140	159	103	88	54	80	76	76	76	54	37	34	26	53
Total Equity	35,328	32,416	32,532	27,853	28,100	25,215	26,074	25,713	27,317	27,654	28,323	26,920	28,366	26,958	25,891
Total Liabilities & Equity	93,837	75,477	72,515	66,771	62,843	61,538	62,957	62,729	64,515	67,810	67,092	71,161	71,391	68,497	71,487
Shares Outstanding	1,768	1,778	1,705	1,664	1,580	1,528	1,488	1,451	1,435	1,419	1,392	1,366	1,348	1,318	1,282
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	526	726	698	609	537	623	599
Net Debt	24,957	14,950	14,457	15,025	13,528	15,458	16,891	17,272	17,012	16,171	15,727	21,010	17,598	16,398	19,080
Net Debt to Equity	70.64	46.12	44.44	53.94	48.14	61.3	64.78	67.17	62.28	58.48	55.53	78.05	62.04	60.83	73.69
Tangible Common Equity Ratio	-86.61	-58.4	-60.42	-68.86	-48.4	-56.83	-58.75	-54.22	-44.68	-46.38	-44.54	-58	-55.56	-55.97	-65.67
Current Ratio	0.88	1.05	0.92	0.84	0.82	0.59	0.48	0.45	0.5	0.66	0.74	0.6	0.62	0.68	0.59
Cash Conversion Cycle	67.91	50.79	34.18	14.1	-6.83	-23.31	-30.93	-39.2	-45.33	-45.89	-49.33	-38.57	-37.47	-45.85	-35.34

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	3,574	3,094	3,935	2,201	7,291	1,645	2,842	3,331	3,944	3,569	4,314	2,726	4,968	4,623	2,466
+ Depreciation & Amortization	1,485	1,345	1,077	1,059	894	823	816	811	1,047	1,116	1,113	1,107	1,215	1,302	1,358
+ Non-Cash Items	-88	594	335	-124	-5,080	576	-72	-97	-578	-544	-637	588	-960	-46	1,664
+ Stock-Based Compensation	181	162	128	141	136	140	137	128	135	126	121	120	146	147	114
+ Deferred Income Taxes	-351	369	-64	-186	-30	-156	89	195	-626	-70	205	-42	-37	257	16
+ Asset Impairment Charge	- -	126	97	240	345	446	334	141	109	136	128	233	128	267	85
+ Other Non-Cash Adj	82	-63	174	-319	-5,531	146	-632	-561	-196	-736	-1,091	277	-1,197	-717	1,449
+ Chg in Non-Cash Work Cap	-451	-1,110	1,063	426	623	-206	-993	-97	-448	-177	-649	-513	-509	-969	-974
+ (Inc) Dec in Accts Receiv	-115	-599	492	184	44	31	-24	257	124	59	-197	-719	-628	-519	433
+ (Inc) Dec in Inventories	-556	-129	-116	-188	-49	62	-18	-204	31	-24	-170	-635	-193	-458	-253
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	300	505	793	387	659	409	5	236	4	436	702	715	264	1,682	-145
+ Inc (Dec) in Other	-80	-887	-106	43	-31	-708	-956	-386	-607	-648	-984	126	48	-1,674	-1,009
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	4,520	3,923	6,410	3,562	3,728	2,838	2,593	3,948	3,965	3,964	4,141	3,908	4,714	4,910	4,514
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	43	133	143	7	60	138	109	398	82	10	214	45	19	16	9
+ Disp of Fixed Prod Assets	43	133	143	7	60	138	109	398	82	10	214	45	19	16	9
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	-2,900	-1,700	-3,622	-2,601	-2,174	-2,020	-1,480	-1,390	-2,110	-2,017	-1,547	-2,334	-2,385
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	-2,900	-1,700	-3,622	-2,601	-2,174	-2,020	-1,480	-1,390	-2,110	-2,017	-1,547	-2,334	-2,385
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	19	658	-213	-157	-38
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	10	105	768	177	320	127
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-86	-110	-390	-477	-165
+ Net Cash From Acq & Div	- -	200	-59	-7	3,597	57	604	-527	-117	1,353	706	-4,685	3,809	2,054	112
+ Cash from Divestitures	- -	200	60	- -	4,124	303	604	1	167	2,489	1,539	601	4,118	2,294	127
+ Cash for Acq of Subs	- -	- -	-119	-7	-527	-246	- -	-528	-284	-1,136	-833	-5,286	-309	-240	-15
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-1,771	-2,020	-1,567	-1,642	-1,008	-1,224	-1,014	-1,095	-925	-873	-965	-906	-803	-1,387	-1,279
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-1,728	-1,687	-1,483	-1,642	2,649	-1,029	-301	-1,224	-960	500	-26	-4,888	2,812	526	-1,196
+ Dividends Paid	-2,043	-2,058	-943	-964	-1,008	-1,094	-1,198	-1,359	-1,542	-1,678	-1,826	-1,985	-2,160	-2,349	-2,487
+ Net Cash From Debt	-1,643	2,278	-3,589	-616	-1,379	-37	-1,223	2,252	-78	722	-132	3,372	-4,024	-1,226	2,126
+ Cash From Debt	1,161	8,354	4,577	5,114	5,237	7,180	2,158	6,929	4,966	7,890	6,115	6,404	344	1,671	4,203
+ Repayments of Debt	-2,804	-6,076	-8,166	-5,730	-6,616	-7,217	-3,381	-4,677	-5,044	-7,168	-6,247	-3,032	-4,368	-2,897	-2,077
+ Other Financing Activities	511	-16	745	592	126	1,870	1,234	-1,202	313	131	-1	174	173	129	-13
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-3,175	204	-6,687	-2,688	-5,883	-1,862	-3,361	-2,329	-2,787	-2,215	-4,069	-456	-7,558	-5,780	-2,759
Effect of Foreign Exchange Rates	-124	61	-93	-223	-255	-76	89	-56	10	73	-143	-169	-32	-140	236
Net Changes in Cash	-383	2,440	-1,760	-768	494	-53	-1,069	395	218	2,249	46	-1,436	-32	-344	559
EBITDA	4,978	5,028	5,291	4,993	4,648	4,205	4,734	4,512	5,074	5,270	5,970	4,903	6,826	7,967	4,978
EBITDA Margin (%)	13.9	14.36	14.99	14.58	15.68	16.22	18.28	17.4	19.61	19.83	20.79	15.57	18.95	21.86	12.92
Free Cash Flow	4,520	3,923	6,410	3,562	3,728	2,838	2,593	3,948	3,965	3,964	4,141	3,908	4,714	4,910	4,514
Net Cash Paid for Acquisitions	- -	-200	59	7	-3,597	-57	-604	527	117	-1,353	-706	4,685	-3,809	-2,054	-112
Free Cash Flow to Firm	5,818	4,989	7,401	4,232	4,291	3,313	2,905	4,284	4,449	4,234	4,407	4,221	5,120	5,299	4,958
Free Cash Flow to Equity	2,920	6,334	2,964	2,953	2,409	2,939	1,479	6,598	3,969	4,696	4,223	7,325	709	3,700	6,649
Free Cash Flow per Basic Share	2.56	2.21	3.61	2.11	2.3	1.82	1.71	2.68	2.74	2.77	2.95	2.84	3.46	3.66	3.49
Price/Free Cash Flow	9.58	11.61	9.85	17.43	19.69	24.57	25.27	15.07	20.25	21.26	22.63	23.62	21.05	16.39	15.48
Cash Flow to Net Income	1.27	1.28	1.64	1.63	0.51	1.74	0.92	1.19	1.01	1.12	0.96	1.44	0.95	1.06	1.84
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -