Parker-Hannifin Corporation

PHParker-Hannifin Corporation US flag

New York Stock Exchange

836.32

USD

+13.02

- -

105.45BMarket 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	12,346	13,146	13,016	13,216	12,712	11,361	12,029	14,302	14,320	13,696	14,348	15,862	19,065	19,930	19,850
+ Sales & Services Revenue	12,346	13,146	13,016	13,216	12,712	11,361	12,029	14,302	14,320	13,696	14,348	15,862	19,065	19,930	19,850
- Cost of Revenue	9,387	9,958	10,087	10,188	9,655	8,823	9,119	10,738	10,689	10,292	9,605	10,550	12,636	12,802	12,535
+ Cost of Goods & Services	9,387	9,958	10,087	10,188	9,655	8,823	9,119	10,738	10,689	10,292	9,605	10,550	12,636	12,802	12,535
Gross Profit	2,958	3,188	2,929	3,028	3,056	2,537	2,910	3,565	3,631	3,403	4,743	5,311	6,429	7,128	7,315
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,468	1,519	1,555	1,634	1,545	1,359	1,413	1,640	1,544	1,657	2,383	2,504	3,354	3,315	3,255
+ Selling, General & Admin	1,468	1,519	1,555	1,634	1,545	1,359	1,413	1,640	1,544	1,657	2,383	2,504	3,354	3,315	3,255
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	1,491	1,668	1,374	1,394	1,512	1,178	1,497	1,925	2,087	1,747	2,360	2,807	3,075	3,813	4,060
- Non-Operating (Income) Loss	77	92	63	-163	80	63	169	222	138	240	113	1,193	395	218	-47
+ Interest Expense, Net	100	93	92	83	118	137	162	214	172	277	243	245	528	491	398
+ Interest Expense	100	93	92	83	118	137	162	214	190	308	250	255	574	506	409
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	18	31	7	10	46	15	11
+ Other Non-Op (Income) Loss	-23	-1	-28	-246	-39	-73	6	9	-34	-37	-130	948	-133	-273	-445
Pretax Income	1,414	1,577	1,311	1,557	1,432	1,115	1,329	1,702	1,949	1,507	2,247	1,614	2,680	3,595	4,107
- Income Tax Expense (Benefit)	357	421	362	515	420	308	345	641	424	305	500	298	596	750	575
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	1,057	1,155	949	1,041	1,013	807	984	1,061	1,525	1,202	1,747	1,316	2,084	2,845	3,532
- Net Extraordinary Losses (Gains)	16	7	1	1	1	1	1	1	1	1	2	1	2	2	2
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	16	7	1	1	1	1	1	1	1	1	2	1	2	2	2
Income (Loss) Incl. MI	1,041	1,148	948	1,041	1,012	806	983	1,060	1,524	1,202	1,745	1,315	2,082	2,843	3,530
- Minority Interest	-8	-4	- -	- -	- -	- -	- -	-1	-1	- -	-1	-1	-1	-1	-1
Net Income, GAAP	1,049	1,152	948	1,041	1,012	807	983	1,061	1,525	1,202	1,746	1,316	2,083	2,844	3,531
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	1,049	1,152	948	1,041	1,012	807	983	1,061	1,525	1,202	1,746	1,316	2,083	2,844	3,531
EBIT	1,491	1,668	1,374	1,394	1,512	1,178	1,497	1,925	2,087	1,747	2,360	2,807	3,075	3,813	4,060
EBITDA	1,830	1,990	1,710	1,730	1,829	1,485	1,853	2,391	2,524	2,284	2,955	3,379	3,893	4,740	4,967
EBITDA Margin (%)	14.83	15.14	13.14	13.09	14.39	13.07	15.4	16.72	17.62	16.68	20.6	21.3	20.42	23.78	25.02
EBITA	1,491	1,668	1,374	1,394	1,512	1,178	1,497	1,925	2,087	1,747	2,360	2,807	3,075	3,813	4,060
Gross Margin (%)	23.96	24.25	22.5	22.91	24.04	22.33	24.19	24.92	25.36	24.85	33.06	33.49	33.72	35.77	36.85
Operating Margin (%)	12.07	12.69	10.56	10.55	11.89	10.37	12.45	13.46	14.58	12.75	16.45	17.7	16.13	19.13	20.45
Profit Margin (%)	8.5	8.76	7.29	7.88	7.96	7.1	8.18	7.42	10.65	8.78	12.17	8.29	10.93	14.27	17.79
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.28	1.59	1.71	1.87	2.38	2.53	2.59	2.75	3.17	3.53	3.68	4.43	5.48	6.09	6.71
Depreciation Expense	340	322	336	337	317	307	355	466	436	538	595	572	818	927	907
Basic Weighted Avg Shares	161	151	149	149	143	135	133	133	130	128	129	129	128	129	128
Basic EPS, GAAP	6.51	7.62	6.36	6.98	7.08	5.96	7.37	7.98	11.73	9.36	13.54	10.24	16.23	22.13	27.52
Basic EPS from Cont Ops	6.56	7.64	6.36	6.98	7.08	5.96	7.38	7.98	11.73	9.36	13.54	10.24	16.23	22.14	27.53
Diluted Weighted Avg Shares	165	155	152	151	145	137	136	135	132	130	131	130	130	130	130
Diluted EPS, GAAP	6.37	7.45	6.26	6.87	6.97	5.89	7.25	7.83	11.57	9.26	13.35	10.09	16.05	21.84	27.12
Diluted EPS from Cont Ops	6.41	7.47	6.26	6.88	6.98	5.9	7.26	7.84	11.57	9.26	13.35	10.1	16.05	21.84	27.13

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	4,305	4,498	5,531	6,072	5,441	5,208	4,780	5,085	7,673	5,035	5,617	12,047	6,834	6,799	6,950
+ Cash, Cash Equivalents & STI	657	838	1,781	2,187	1,914	2,104	924	855	3,371	756	772	564	484	422	467
+ Cash & Cash Equivalents	657	838	1,781	1,614	1,181	1,222	885	822	3,220	686	733	536	475	422	467
+ ST Investments	- -	- -	- -	574	733	882	39	33	151	71	39	28	8	- -	- -
+ Accounts & Notes Receiv	1,978	1,992	2,063	2,247	1,985	1,826	2,186	2,474	2,442	2,099	2,510	2,885	3,136	3,197	3,228
+ Accounts Receivable, Net	1,770	1,782	1,841	1,858	1,620	1,594	1,931	2,146	2,131	1,854	2,184	2,342	2,827	2,866	2,910
+ Notes Receivable, Net	133	125	112	117	90	102	118	149	148	97	144	104	102	93	84
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	76	85	110	271	274	130	137	179	163	148	182	440	207	238	234
+ Inventories	1,412	1,401	1,377	1,372	1,300	1,173	1,549	1,621	1,678	1,964	2,091	2,215	2,908	2,787	2,839
+ Raw Materials	157	132	112	106	85	75	184	182	164	272	267	274	625	588	576
+ Work In Process	671	692	733	732	689	640	723	766	851	989	1,090	1,129	1,489	1,421	1,485
+ Finished Goods	585	576	532	533	527	459	643	673	663	704	734	812	794	778	778
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	258	267	310	266	242	104	120	135	182	215	244	6,383	306	393	416
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	6,582	6,672	7,010	7,203	6,838	6,826	10,710	10,235	9,904	14,853	14,724	13,897	23,130	22,499	22,544
+ Property, Plant & Equip, Net	1,797	1,720	1,808	1,824	1,664	1,568	1,937	1,856	1,768	2,293	2,266	2,123	2,865	2,876	2,937
+ Property, Plant & Equip	4,945	4,849	4,999	5,153	4,863	4,737	5,187	5,215	5,187	5,811	6,040	5,898	6,866	7,075	7,417
- Accumulated Depreciation	3,148	3,129	3,191	3,328	3,199	3,169	3,249	3,359	3,418	3,518	3,774	3,775	4,001	4,199	4,480
+ LT Investments & Receivables	598	931	687	1,019	812	827	842	801	748	765	774	788	1,105	- -	- -
+ LT Investments	598	931	687	1,019	812	827	842	801	748	765	774	788	1,105	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4,187	4,021	4,514	4,360	4,362	4,431	7,930	7,578	7,388	11,796	11,684	10,986	19,161	19,623	19,607
+ Total Intangible Assets	4,187	4,021	4,514	4,360	3,956	3,826	7,894	7,520	7,237	11,669	11,579	10,876	19,079	18,323	18,068
+ Goodwill	3,009	2,926	3,224	3,171	2,943	2,903	5,587	5,504	5,454	7,870	8,060	7,740	10,629	10,507	10,694
+ Other Intangible Assets	1,178	1,095	1,290	1,188	1,013	923	2,307	2,016	1,783	3,799	3,520	3,136	8,451	7,816	7,374
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	- -	406	605	36	58	150	127	104	111	81	1,300	1,539
Total Assets	10,887	11,170	12,541	13,274	12,279	12,034	15,490	15,320	17,577	19,888	20,341	25,944	29,964	29,298	29,494
+ Payables & Accruals	1,849	2,260	2,186	2,436	2,126	2,004	2,387	2,559	2,565	2,339	3,094	4,135	3,972	3,910	4,028
+ Accounts Payable	1,174	1,195	1,156	1,252	1,092	1,035	1,300	1,430	1,413	1,112	1,668	1,732	2,051	1,992	2,126
+ Accrued Taxes	- -	154	136	224	139	128	153	199	167	195	236	250	375	355	382
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	675	912	894	961	895	842	934	930	984	1,032	1,189	2,153	1,547	1,563	1,520
+ ST Debt	75	226	1,334	817	223	362	1,008	638	587	810	3	1,724	3,763	3,403	1,791
+ ST Borrowings	75	226	1,334	817	223	362	1,008	638	587	810	3	1,724	3,763	3,403	1,791
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	467	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	467	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	2,391	2,486	3,520	3,253	2,349	2,366	3,396	3,197	3,152	3,148	3,097	5,859	7,735	7,313	5,819
+ LT Debt	1,691	1,504	1,496	1,508	2,724	2,652	4,862	4,319	6,521	7,652	6,582	9,756	8,796	7,157	7,494
+ LT Borrowings	1,691	1,504	1,496	1,508	2,724	2,652	4,862	4,319	6,521	7,652	6,582	9,756	8,796	7,157	7,494
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	1,316	2,275	1,783	1,851	2,099	2,437	1,965	1,939	1,936	2,845	2,249	1,469	3,095	2,747	2,490
+ Accrued Liabilities	160	88	103	95	63	54	222	235	193	419	554	307	1,650	1,584	1,490
+ Pension Liabilities	863	1,910	1,372	1,346	1,699	2,076	1,406	1,178	1,304	1,887	1,056	640	552	437	267
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	293	277	308	410	336	307	337	526	438	539	639	522	893	726	733
Total Noncurrent Liabilities	3,007	3,779	3,279	3,359	4,823	5,090	6,827	6,257	8,457	10,498	8,831	11,225	11,891	9,904	9,984
Total Liabilities	5,398	6,265	6,799	6,612	7,172	7,455	10,223	9,455	11,609	13,646	11,928	17,084	19,626	17,217	15,803
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	759	731	699	686	713	719	634	587	553	507	420	418	396	355	285
+ Common Stock	91	91	91	91	91	91	91	91	91	91	91	91	91	91	91
+ Additional Paid in Capital	668	640	609	595	623	628	544	497	462	417	330	327	306	264	194
- Treasury Stock	1,815	2,206	2,274	2,377	3,712	4,219	4,379	4,590	5,309	5,365	5,371	5,688	5,818	5,950	7,495
+ Retained Earnings	6,891	7,787	8,421	9,174	9,842	10,303	10,930	11,626	12,778	13,644	14,915	15,662	17,042	19,105	21,775
+ Other Equity	-451	-1,416	-1,108	-823	-1,739	-2,228	-1,924	-1,763	-2,059	-2,559	-1,567	-1,543	-1,293	-1,438	-883
Equity Before Minority Interest	5,384	4,897	5,738	6,659	5,104	4,575	5,262	5,860	5,962	6,227	8,398	8,848	10,327	12,072	13,682
+ Minority/Non Controlling Interest	104	9	3	3	3	3	6	6	6	15	15	12	11	9	9
Total Equity	5,488	4,906	5,741	6,663	5,108	4,579	5,267	5,865	5,968	6,242	8,414	8,860	10,338	12,081	13,691
Total Liabilities & Equity	10,887	11,170	12,541	13,274	12,279	12,034	15,490	15,320	17,577	19,888	20,341	25,944	29,964	29,298	29,494
Shares Outstanding	155	150	149	149	139	134	133	132	128	129	129	128	128	129	127
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	1,109	891	1,048	711	1,767	1,793	4,985	4,135	3,888	7,776	5,852	10,944	12,084	10,138	8,818
Net Debt to Equity	20.2	18.17	18.26	10.67	34.59	39.15	94.65	70.5	65.15	124.58	69.55	123.53	116.89	83.92	64.41
Tangible Common Equity Ratio	19.43	12.37	15.29	25.83	13.83	9.17	-34.59	-21.21	-12.27	-66.03	-36.13	-13.38	-80.3	-56.87	-38.31
Current Ratio	1.8	1.81	1.57	1.87	2.32	2.2	1.41	1.59	2.43	1.6	1.81	2.06	0.88	0.93	1.19
Cash Conversion Cycle	58.62	57.41	58.44	57.16	55.81	58.17	63.08	59.8	62.54	74.13	76.28	68.41	71.67	75.13	75.31

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	1,057	1,155	949	1,041	1,013	807	984	1,061	1,525	1,202	1,747	1,316	2,084	2,845	3,532
+ Depreciation & Amortization	340	322	336	337	317	307	355	466	436	538	595	572	818	927	907
+ Non-Cash Items	97	26	91	-186	50	17	85	121	148	127	-60	-190	-63	157	-358
+ Stock-Based Compensation	73	81	85	103	96	71	80	119	104	111	121	137	143	155	159
+ Deferred Income Taxes	21	-56	-1	-74	19	-66	37	-41	36	12	-52	-351	92	32	-304
+ Asset Impairment Charge	- -	- -	- -	189	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	3	2	8	-404	-65	12	-33	44	8	3	-130	24	-298	-30	-213
+ Chg in Non-Cash Work Cap	-327	27	-185	196	-16	79	-123	-52	-379	204	293	743	141	-545	-305
+ (Inc) Dec in Accts Receiv	-260	-91	-21	-99	143	18	-95	-302	2	579	-299	-179	-17	-85	6
+ (Inc) Dec in Inventories	-139	-28	99	-4	-70	120	-74	-92	-68	207	-86	-212	53	101	-94
+ (Inc) Dec in Prepaid Assets	6	-27	-47	58	-117	136	2	-16	-33	-9	-26	38	32	-49	-9
+ Inc (Dec) in Accts Payable	329	39	-192	177	-152	-113	139	160	-24	-551	647	1,148	394	-154	-70
+ Inc (Dec) in Other	-264	134	-23	64	179	-81	-96	199	-256	-21	55	-51	-321	-358	-138
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	1,167	1,530	1,191	1,388	1,363	1,211	1,301	1,597	1,730	2,071	2,575	2,442	2,980	3,384	3,776
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	32	20	- -	- -	20	19	15	82	47	26	141	39	13	9	32
+ Disp of Fixed Prod Assets	32	20	- -	- -	20	19	15	82	47	26	141	39	13	9	32
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-693	-457	-258	-204	-1,436	-587	-338	-381	-860	-216	-219	-460	-297	-332	-1,766
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-693	-457	-258	-204	-1,436	-587	-338	-381	-860	-216	-219	-460	-297	-332	-1,766
+ Net Change in LT Investment	- -	- -	- -	-625	-356	-51	814	3	-107	81	45	4	-1,348	24	- -
+ Dec in LT Investment	- -	- -	- -	- -	1,391	1,301	1,279	84	75	275	79	32	57	24	- -
+ Inc in LT Investment	- -	- -	- -	-625	-1,747	-1,351	-466	-81	-182	-195	-35	-28	-1,405	- -	- -
+ Net Cash From Acq & Div	-60	-156	-548	185	19	-43	-3,984	178	18	-5,076	- -	3	-6,673	78	623
+ Cash from Divestitures	- -	- -	74	202	37	24	86	178	20	- -	- -	3	473	78	623
+ Cash for Acq of Subs	-60	-156	-621	-18	-19	-68	-4,069	- -	-2	-5,076	- -	- -	-7,146	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-217	-240	-262	-206	-262	-189	-208	-239	-176	-55	-185	-465	-169	-409	-431
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-245	-376	-810	-646	-579	-265	-3,363	24	-219	-5,024	- -	-419	-8,177	-298	224
+ Dividends Paid	-206	-241	-255	-278	-340	-342	-345	-365	-412	-454	-475	-570	-704	-782	-861
+ Net Cash From Debt	-85	-5	992	-518	667	86	2,464	-939	2,172	1,118	-1,934	5,001	40	-2,002	-1,354
+ Cash From Debt	292	74	1,323	1	1,483	306	2,845	5	2,386	1,858	1	5,020	2,381	383	751
+ Repayments of Debt	-377	-79	-331	-518	-816	-220	-381	-945	-213	-740	-1,935	-19	-2,341	-2,385	-2,105
+ Other Financing Activities	69	-121	97	42	3	- -	2	4	2	1	5	-56	-10	1	4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-916	-824	576	-958	-1,106	-843	1,783	-1,682	902	449	-2,623	3,916	-971	-3,115	-3,977
Effect of Foreign Exchange Rates	76	-150	-14	49	-111	-62	-57	-1	-16	-31	96	-24	-5	-24	22
Net Changes in Cash	6	331	957	-217	-322	103	-280	-62	2,414	-2,504	-48	5,939	-6,168	-29	23
EBITDA	1,830	1,990	1,710	1,730	1,829	1,485	1,853	2,391	2,524	2,284	2,955	3,379	3,893	4,740	4,967
EBITDA Margin (%)	14.83	15.14	13.14	13.09	14.39	13.07	15.4	16.72	17.62	16.68	20.6	21.3	20.42	23.78	25.02
Free Cash Flow	1,167	1,530	1,191	1,388	1,363	1,211	1,301	1,597	1,730	2,071	2,575	2,442	2,980	3,384	3,776
Net Cash Paid for Acquisitions	60	156	548	-185	-19	43	3,984	-178	-18	5,076	- -	-3	6,673	-78	-623
Free Cash Flow to Firm	1,241	1,598	1,257	1,443	1,447	1,310	1,421	1,730	1,879	2,317	2,769	2,650	3,426	3,784	4,128
Free Cash Flow to Equity	1,114	1,546	2,183	870	2,050	1,315	3,779	739	3,949	3,215	782	7,482	3,033	1,391	2,454
Free Cash Flow per Basic Share	7.24	10.12	7.98	9.31	9.54	8.95	9.75	12	13.31	16.13	19.96	19	23.21	26.33	29.43
Price/Free Cash Flow	12.67	7.77	12.14	13.72	12.38	12.22	16.66	13.22	12.95	11.49	15.6	13.14	16.99	19.47	24.08
Cash Flow to Net Income	1.11	1.33	1.26	1.33	1.35	1.5	1.32	1.51	1.13	1.72	1.47	1.86	1.43	1.19	1.07
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -