Mohawk Industries, Inc.

MHK

MHKMohawk Industries, Inc. US flag

New York Stock Exchange

109.35

USD

+7.60

- -

6.67BMarket 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
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	5,642	5,788	7,349	7,803	8,072	8,959	9,491	9,984	9,971	9,552	11,201	11,737	11,135	10,837	10,785
+ Sales & Services Revenue	5,642	5,788	7,349	7,803	8,072	8,959	9,491	9,984	9,971	9,552	11,201	11,737	11,135	10,837	10,785
- Cost of Revenue	4,225	4,298	5,428	5,649	5,661	6,146	6,495	7,146	7,295	7,122	7,932	8,794	8,430	8,150	8,211
+ Cost of Goods & Services	4,225	4,298	5,428	5,649	5,661	6,146	6,495	7,146	7,295	7,122	7,932	8,794	8,430	8,150	8,211
Gross Profit	1,417	1,490	1,921	2,154	2,411	2,813	2,996	2,838	2,676	2,431	3,269	2,943	2,706	2,686	2,575
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,101	1,111	1,374	1,381	1,573	1,533	1,642	1,743	1,849	1,795	1,934	2,003	2,120	1,985	2,065
+ Selling, General & Admin	1,101	1,111	1,374	1,381	1,573	1,533	1,642	1,743	1,849	1,795	1,934	2,003	2,120	1,985	2,065
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	316	380	547	773	838	1,280	1,354	1,095	827	636	1,335	940	586	702	510
- Non-Operating (Income) Loss	116	75	101	109	89	39	36	46	78	52	45	756	950	59	41
+ Interest Expense, Net	102	75	92	98	71	41	31	39	41	52	57	52	78	48	18
+ Interest Expense	102	75	92	98	71	41	31	39	41	52	57	52	78	48	18
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	14	- -	9	11	18	-2	5	7	36	-1	-12	704	872	10	23
Pretax Income	200	304	446	664	749	1,241	1,318	1,049	750	584	1,290	184	-364	643	469
- Income Tax Expense (Benefit)	22	54	78	132	132	308	343	184	5	69	256	158	85	128	99
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	178	251	367	532	617	934	975	865	745	516	1,034	26	-449	515	370
- Net Extraordinary Losses (Gains)	9	1	19	1	4	6	6	14	1	- -	1	1	- -	- -	- -
+ Discontinued Operations	- -	- -	-18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	9	1	37	1	4	6	6	14	1	- -	1	1	- -	- -	- -
Income (Loss) Incl. MI	170	250	348	532	613	927	968	851	744	515	1,033	25	-449	515	370
- Minority Interest	-4	-1	-1	- -	-2	-3	-3	-7	- -	- -	- -	-1	- -	- -	- -
Net Income, GAAP	174	250	349	532	615	930	972	858	744	516	1,033	25	-449	515	370
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	174	250	349	532	615	930	972	858	744	516	1,033	25	-449	515	370
EBIT	316	380	547	773	838	1,280	1,354	1,095	827	636	1,335	940	586	702	510
EBITDA	613	660	856	1,118	1,200	1,689	1,801	1,617	1,404	1,244	1,927	1,536	1,216	1,340	1,162
EBITDA Margin (%)	10.87	11.4	11.65	14.33	14.87	18.86	18.97	16.2	14.08	13.02	17.2	13.08	10.92	12.37	10.78
EBITA	316	380	547	773	838	1,280	1,354	1,095	827	636	1,335	940	586	702	510
Gross Margin (%)	25.11	25.74	26.14	27.61	29.87	31.4	31.57	28.43	26.84	25.45	29.18	25.08	24.3	24.79	23.87
Operating Margin (%)	5.59	6.56	7.44	9.9	10.38	14.29	14.27	10.97	8.3	6.66	11.92	8.01	5.26	6.48	4.73
Profit Margin (%)	3.08	4.32	4.75	6.82	7.62	10.38	10.24	8.59	7.46	5.4	9.22	0.21	-4.03	4.75	3.43
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	298	280	309	346	363	409	447	522	576	608	592	596	630	638	653
Basic Weighted Avg Shares	69	69	72	73	74	74	74	74	72	71	69	64	64	63	62
Basic EPS, GAAP	2.53	3.63	4.86	7.3	8.37	12.55	13.07	11.53	10.34	7.24	15.01	0.39	-7.05	8.13	5.96
Basic EPS from Cont Ops	2.59	3.64	5.12	7.31	8.39	12.6	13.11	11.62	10.34	7.24	15.01	0.4	-7.05	8.13	5.96
Diluted Weighted Avg Shares	69	69	72	73	74	75	75	75	72	71	69	64	64	64	62
Diluted EPS, GAAP	2.52	3.61	4.82	7.25	8.31	12.48	12.98	11.47	10.3	7.22	14.94	0.39	-7.05	8.09	5.93
Diluted EPS from Cont Ops	2.58	3.62	5.08	7.26	8.33	12.52	13.02	11.57	10.3	7.22	14.95	0.4	-7.05	8.09	5.93

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
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	2,398	2,550	3,086	2,980	3,250	3,472	4,073	4,509	4,429	5,364	5,238	5,895	5,604	5,455	5,967
+ Cash, Cash Equivalents & STI	312	478	54	98	82	122	85	119	177	1,340	592	668	643	667	856
+ Cash & Cash Equivalents	312	478	54	98	82	122	85	119	135	769	269	510	643	667	856
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	42	572	323	158	- -	- -	- -
+ Accounts & Notes Receiv	686	679	1,063	1,082	1,258	1,376	1,558	1,606	1,527	1,709	1,840	1,905	1,875	1,762	1,924
+ Accounts Receivable, Net	697	692	1,077	1,081	1,244	1,386	1,538	1,562	1,492	1,592	1,722	1,699	1,716	1,632	1,773
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	-11	-12	-14	- -	14	-10	20	44	35	118	118	206	158	130	151
+ Inventories	1,114	1,134	1,572	1,543	1,607	1,676	1,949	2,288	2,282	1,913	2,392	2,794	2,552	2,514	2,662
+ Raw Materials	329	334	404	393	387	411	463	540	527	415	570	647	591	591	606
+ Work In Process	113	104	129	129	137	137	160	166	145	126	144	161	164	142	130
+ Finished Goods	671	696	1,039	1,021	1,083	1,128	1,326	1,582	1,611	1,372	1,678	1,986	1,797	1,781	1,926
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	286	259	396	257	304	298	481	496	443	401	415	529	535	512	525
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3,808	3,754	5,408	5,305	6,684	6,759	8,022	8,590	8,957	8,964	8,986	8,225	7,956	7,282	7,720
+ Property, Plant & Equip, Net	1,712	1,693	2,702	2,703	3,147	3,370	4,271	4,700	5,022	4,914	5,027	5,049	5,422	4,954	5,181
+ Property, Plant & Equip	3,640	3,758	4,950	5,130	5,783	6,244	7,486	8,227	8,819	9,228	9,641	10,036	10,821	10,508	11,441
- Accumulated Depreciation	1,928	2,065	2,248	2,427	2,636	2,873	3,215	3,527	3,797	4,314	4,614	4,987	5,399	5,554	6,260
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,096	2,061	2,707	2,602	3,537	3,389	3,751	3,890	3,935	4,050	3,959	3,176	2,534	2,328	2,540
+ Total Intangible Assets	1,980	1,940	2,548	2,306	3,230	3,109	3,363	3,483	3,499	3,602	3,508	2,786	2,035	1,904	2,024
+ Goodwill	1,375	1,386	1,736	1,604	2,293	2,274	2,471	2,521	2,570	2,651	2,608	1,928	1,160	1,112	1,210
+ Other Intangible Assets	605	554	812	702	937	835	892	962	929	952	900	858	875	792	813
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	116	121	159	295	307	280	388	407	436	447	451	391	499	424	516
Total Assets	6,206	6,304	8,494	8,286	9,934	10,231	12,095	13,099	13,387	14,328	14,225	14,120	13,560	12,736	13,687
+ Payables & Accruals	609	655	1,007	957	1,075	1,142	1,244	1,326	1,366	1,674	1,961	1,144	1,098	1,746	2,031
+ Accounts Payable	373	388	632	622	697	729	810	812	825	1,017	1,229	1,094	1,038	978	1,089
+ Accrued Taxes	- -	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	237	265	374	334	378	413	434	514	541	657	732	50	60	768	942
+ ST Debt	386	55	127	851	2,003	1,383	1,204	1,742	1,153	475	729	946	1,111	668	412
+ ST Borrowings	386	55	127	851	2,003	1,383	1,204	1,742	1,051	377	625	841	1,002	559	289
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	102	98	104	105	109	108	122
+ Other ST Liabilities	106	118	187	139	181	193	207	198	193	222	256	980	937	258	280
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	9	6	11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	97	112	176	139	181	193	207	198	193	222	256	980	937	258	280
Total Current Liabilities	1,101	829	1,321	1,947	3,259	2,718	2,655	3,266	2,713	2,371	2,946	3,070	3,146	2,672	2,722
+ LT Debt	1,200	1,328	2,133	1,402	1,189	1,129	1,560	1,516	1,747	2,592	1,998	2,275	2,039	1,960	2,046
+ LT Borrowings	1,200	1,328	2,133	1,402	1,189	1,129	1,560	1,516	1,518	2,357	1,700	1,979	1,702	1,677	1,741
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	228	235	297	296	338	283	304
+ Other LT Liabilities	489	428	570	514	626	600	813	877	801	824	852	758	746	589	541
+ Accrued Liabilities	356	330	446	411	388	361	328	414	474	494	496	445	392	255	185
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	133	98	124	103	237	239	484	463	327	330	357	313	354	334	356
Total Noncurrent Liabilities	1,689	1,755	2,703	1,916	1,815	1,729	2,372	2,393	2,548	3,415	2,850	3,032	2,785	2,549	2,586
Total Liabilities	2,790	2,584	4,024	3,863	5,074	4,447	5,028	5,659	5,260	5,787	5,796	6,103	5,931	5,222	5,309
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1,249	1,278	1,568	1,600	1,761	1,792	1,829	1,853	1,869	1,886	1,912	1,931	1,948	1,970	1,993
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	1,248	1,278	1,567	1,599	1,760	1,792	1,828	1,852	1,868	1,885	1,911	1,931	1,948	1,969	1,993
- Treasury Stock	324	323	239	239	216	216	216	216	216	216	216	215	215	215	215
+ Retained Earnings	2,355	2,605	2,954	3,487	4,103	5,033	6,005	6,588	7,232	7,559	7,692	7,410	6,970	7,283	7,503
+ Other Equity	136	160	179	-429	-794	-833	-559	-792	-766	-695	-967	-1,114	-1,080	-1,528	-908
Equity Before Minority Interest	3,382	3,720	4,461	4,418	4,854	5,776	7,059	7,434	8,120	8,534	8,421	8,012	7,623	7,509	8,373
+ Minority/Non Controlling Interest	34	- -	9	5	7	7	8	6	7	7	7	6	6	6	5
Total Equity	3,416	3,720	4,470	4,423	4,861	5,783	7,067	7,440	8,126	8,541	8,428	8,018	7,629	7,515	8,379
Total Liabilities & Equity	6,206	6,304	8,494	8,286	9,934	10,231	12,095	13,099	13,387	14,328	14,225	14,120	13,560	12,736	13,687
Shares Outstanding	69	69	73	73	74	74	74	72	72	70	66	64	64	63	62
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	330	333	402	401	446	392	427
Net Debt	1,274	905	2,206	2,156	3,110	2,390	2,679	3,139	2,435	1,966	2,056	2,310	2,061	1,570	1,174
Net Debt to Equity	37.31	24.34	49.35	48.74	63.99	41.32	37.9	42.19	29.97	23.01	24.39	28.8	27.01	20.89	14.02
Tangible Common Equity Ratio	33.97	40.79	32.33	35.4	24.33	37.55	42.42	41.15	46.8	46.05	45.91	46.16	48.54	51.8	54.49
Current Ratio	2.18	3.08	2.34	1.53	1	1.28	1.53	1.38	1.63	2.26	1.78	1.92	1.78	2.04	2.19
Cash Conversion Cycle	83.57	107.06	103.18	110.41	112.08	109.17	116.57	125.33	129.25	116.63	104.3	114.71	124.19	124.45	127.51

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
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	178	251	362	532	617	934	975	865	745	516	1,034	26	-449	515	370
+ Depreciation & Amortization	298	280	309	346	363	409	447	522	576	608	592	596	630	638	653
+ Non-Cash Items	27	46	27	55	40	91	2	179	68	152	37	716	871	51	5
+ Stock-Based Compensation	10	14	18	28	33	35	36	31	24	20	26	22	21	28	30
+ Deferred Income Taxes	-5	9	-63	-24	-29	-34	-76	88	-108	22	-5	-51	-110	-58	-132
+ Asset Impairment Charge	- -	- -	- -	- -	- -	48	- -	- -	60	- -	- -	696	878	8	20
+ Other Non-Cash Adj	22	23	71	51	36	42	41	59	92	110	16	48	83	74	87
+ Chg in Non-Cash Work Cap	-202	10	-172	-270	-90	-89	-230	-384	30	495	-353	-668	276	-70	29
+ (Inc) Dec in Accts Receiv	-84	11	-96	-108	-14	-159	-61	14	82	-55	-207	-84	160	-46	-17
+ (Inc) Dec in Inventories	-100	-17	-20	-67	6	-82	-153	-255	7	358	-519	-410	281	-79	-28
+ (Inc) Dec in Prepaid Assets	-12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-11	39	-24	-49	6	86	25	-70	-52	255	361	-94	-194	44	72
+ Inc (Dec) in Other	5	-23	-32	-46	-89	66	-41	-73	-7	-63	12	-80	29	11	2
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	301	588	525	662	929	1,345	1,194	1,181	1,419	1,770	1,309	669	1,329	1,134	1,056
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-276	-208	-367	-562	-504	-672	-906	-794	-545	-426	-676	-581	-613	-454	-440
+ Acq of Fixed Prod Assets	-276	-208	-367	-562	-504	-672	-906	-794	-545	-426	-676	-581	-613	-454	-440
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	4	- -	- -	- -	-12	-13	-14	-284	-100	-189	-900	-308	- -	-163	-150
+ Increase in Capital Stock	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	-12	-13	-14	-284	-100	-189	-900	-308	- -	-163	-150
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	-84	31	10	-529	243	165	158	- -	5
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	695	592	659	1,455	2,646	933	- -	5
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	-84	-664	-582	-1,188	-1,211	-2,481	-775	- -	- -
+ Net Cash From Acq & Div	-24	-7	-443	-4	-1,371	- -	-251	-569	-81	- -	-124	-210	-515	- -	-7
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-24	-7	-443	-4	-1,371	- -	-251	-569	-81	- -	-124	-210	-515	- -	-7
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-300	-215	-810	-566	-1,874	-672	-1,241	-1,332	-616	-955	-557	-625	-970	-454	-442
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	-68	-204	-138	-16	956	-630	10	512	-669	24	-318	528	-165	-441	-284
+ Cash From Debt	1,732	1,847	3,850	9,375	18,283	20,933	16,567	18,151	15,320	6,375	1,185	20,546	17,252	10,981	8,252
+ Repayments of Debt	-1,800	-2,051	-3,988	-9,391	-17,327	-21,563	-16,557	-17,639	-15,989	-6,351	-1,503	-20,018	-17,418	-11,422	-8,537
+ Other Financing Activities	31	-13	32	-9	3	1	-3	-30	-21	-24	-14	-26	-45	-26	-36
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-33	-217	-107	-26	947	-642	-7	198	-790	-188	-1,232	194	-211	-630	-470
Effect of Foreign Exchange Rates	-10	10	-32	-27	-18	8	17	-13	3	7	-20	2	-15	-26	45
Net Changes in Cash	-32	155	-392	71	2	32	-54	47	13	627	-480	238	148	50	144
EBITDA	613	660	856	1,118	1,200	1,689	1,801	1,617	1,404	1,244	1,927	1,536	1,216	1,340	1,162
EBITDA Margin (%)	10.87	11.4	11.65	14.33	14.87	18.86	18.97	16.2	14.08	13.02	17.2	13.08	10.92	12.37	10.78
Free Cash Flow	25	379	159	100	425	673	288	387	873	1,344	633	88	716	680	616
Net Cash Paid for Acquisitions	24	7	443	4	1,371	- -	251	569	81	- -	124	210	515	- -	7
Free Cash Flow to Firm	116	441	235	179	484	704	311	419	914	1,391	679	96	- -	718	630
Free Cash Flow to Equity	-42	176	20	84	1,381	43	298	899	204	1,369	315	617	551	239	332
Free Cash Flow per Basic Share	0.37	5.5	2.21	1.38	5.79	9.08	3.87	5.2	12.13	18.88	9.19	1.39	11.25	10.73	9.92
Price/Free Cash Flow	7.16	7.88	12.07	9.31	9.79	7.38	9.83	4.43	5.02	4.58	6.35	5.24	3.39	4.77	4.56
Cash Flow to Net Income	1.73	2.35	1.51	1.24	1.51	1.45	1.23	1.38	1.91	3.43	1.27	26.56	-2.96	2.2	2.86
Capital Expenditures	-276	-208	-367	-562	-504	-672	-906	-794	-545	-426	-676	-581	-613	-454	-440