The Sherwin-Williams Company

SHW

SHWThe Sherwin-Williams Company US flag

New York Stock Exchange

317.30

USD

+0.41

- -

78.26BMarket 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	8,766	9,534	10,186	11,130	11,339	11,856	14,984	17,534	17,901	18,362	19,945	22,149	23,052	23,098	23,574
+ Sales & Services Revenue	8,766	9,534	10,186	11,130	11,339	11,856	14,984	17,534	17,901	18,362	19,945	22,149	23,052	23,098	23,574
- Cost of Revenue	5,021	5,328	5,569	5,965	5,780	5,934	8,265	10,116	9,865	9,679	11,402	12,824	12,294	11,903	12,059
+ Cost of Goods & Services	5,021	5,328	5,569	5,965	5,780	5,934	8,265	10,116	9,865	9,679	11,402	12,824	12,294	11,903	12,059
Gross Profit	3,745	4,206	4,617	5,164	5,560	5,921	6,719	7,419	8,036	8,683	8,543	9,325	10,758	11,195	11,516
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,970	3,266	3,465	3,859	3,945	4,209	5,020	5,528	5,611	5,828	5,878	6,324	7,152	7,433	7,719
+ Selling, General & Admin	2,961	3,260	3,468	3,823	3,886	4,140	4,798	5,034	5,275	5,478	5,882	6,332	7,071	7,434	7,704
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	9	7	-3	36	59	68	222	494	336	350	-4	-7	81	-1	15
Operating Income (Loss)	775	940	1,152	1,305	1,615	1,713	1,699	1,890	2,425	2,854	2,665	3,001	3,606	3,762	3,797
- Non-Operating (Income) Loss	33	33	66	47	66	117	230	531	444	335	416	428	496	310	458
+ Interest Expense, Net	39	40	59	61	60	149	255	362	323	337	330	383	392	405	454
+ Interest Expense	42	43	63	64	62	154	264	367	349	340	335	391	418	416	465
- Interest Income	4	3	3	3	1	5	9	5	26	4	5	8	25	11	11
+ Other Non-Op (Income) Loss	-6	-7	6	-14	5	-32	-25	169	120	-2	86	45	104	-95	5
Pretax Income	742	907	1,086	1,258	1,549	1,595	1,469	1,360	1,982	2,519	2,249	2,573	3,110	3,452	3,338
- Income Tax Expense (Benefit)	300	276	333	392	495	463	-300	251	440	489	384	553	721	770	770
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	442	631	753	866	1,054	1,133	1,770	1,109	1,541	2,030	1,864	2,020	2,389	2,681	2,568
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	42	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	-42	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	83	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	442	631	753	866	1,054	1,133	1,728	1,109	1,541	2,030	1,864	2,020	2,389	2,681	2,568
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	442	631	753	866	1,054	1,133	1,728	1,109	1,541	2,030	1,864	2,020	2,389	2,681	2,568
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	442	631	753	866	1,054	1,133	1,728	1,109	1,541	2,030	1,864	2,020	2,389	2,681	2,568
EBIT	775	940	1,152	1,305	1,615	1,713	1,699	1,890	2,425	2,854	2,665	3,001	3,606	3,762	3,797
EBITDA	956	1,119	1,339	1,504	1,813	1,910	2,191	2,487	3,000	3,436	3,237	3,582	4,229	4,386	4,474
EBITDA Margin (%)	10.9	11.74	13.15	13.52	15.99	16.11	14.62	14.18	16.76	18.71	16.23	16.17	18.35	18.99	18.98
EBITA	775	940	1,152	1,305	1,615	1,713	1,699	1,890	2,425	2,854	2,665	3,001	3,606	3,762	3,797
Gross Margin (%)	42.72	44.12	45.32	46.4	49.03	49.94	44.84	42.31	44.89	47.29	42.83	42.1	46.67	48.47	48.85
Operating Margin (%)	8.84	9.86	11.31	11.73	14.24	14.45	11.34	10.78	13.55	15.54	13.36	13.55	15.64	16.29	16.11
Profit Margin (%)	5.04	6.62	7.39	7.78	9.29	9.55	11.53	6.32	8.61	11.06	9.35	9.12	10.36	11.61	10.9
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.49	0.53	0.68	0.75	0.9	1.13	1.14	1.16	1.53	1.8	2.24	2.4	2.44	2.88	3.19
Depreciation Expense	181	179	188	199	199	197	492	596	575	581	573	581	622	624	677
Basic Weighted Avg Shares	310	305	303	289	277	276	279	279	275	271	262	258	255	251	248
Basic EPS, GAAP	1.42	2.07	2.49	3	3.81	4.11	6.2	3.97	5.6	7.48	7.1	7.83	9.35	10.68	10.37
Basic EPS from Cont Ops	1.42	2.07	2.49	3	3.81	4.11	6.35	3.97	5.6	7.48	7.1	7.83	9.35	10.68	10.37
Diluted Weighted Avg Shares	317	312	309	294	282	283	285	285	280	276	267	262	258	254	250
Diluted EPS, GAAP	1.39	2.02	2.43	2.94	3.74	4	6.07	3.89	5.5	7.36	6.98	7.72	9.25	10.55	10.26
Diluted EPS from Cont Ops	1.39	2.02	2.43	2.94	3.74	4	6.21	3.89	5.5	7.36	6.98	7.72	9.25	10.55	10.26

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	2,262	3,149	3,159	2,566	2,657	3,627	4,407	4,344	4,632	4,591	5,054	5,908	5,513	5,401	6,007
+ Cash, Cash Equivalents & STI	33	863	745	41	206	890	204	156	162	227	166	199	277	210	207
+ Cash & Cash Equivalents	33	863	745	41	206	890	204	156	162	227	166	199	277	210	207
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	990	1,033	1,098	1,131	1,114	1,231	2,105	2,019	2,089	2,078	2,352	2,564	2,468	2,389	2,791
+ Accounts Receivable, Net	990	1,033	1,098	1,131	1,114	1,231	2,105	2,019	2,089	2,078	2,352	2,564	2,468	2,389	2,791
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	927	920	971	1,034	1,019	1,068	1,742	1,815	1,890	1,804	1,927	2,626	2,330	2,288	2,318
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	196	188	192	192	178	170	386	389	380	376	548	669	519	536	534
+ Finished Goods	731	732	779	842	841	899	1,356	1,426	1,510	1,428	1,379	1,958	1,811	1,752	1,784
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	312	334	345	361	319	438	356	355	491	483	608	519	438	514	691
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,968	3,085	3,224	3,134	3,122	3,125	15,492	14,790	15,864	15,810	15,613	16,686	17,442	18,232	19,894
+ Property, Plant & Equip, Net	957	966	1,021	1,021	1,042	1,096	1,877	1,777	3,521	3,596	3,688	4,074	4,724	5,487	6,133
+ Property, Plant & Equip	2,473	2,588	2,741	2,835	2,923	3,101	3,967	4,040	6,068	6,310	6,485	7,055	7,764	8,677	9,382
- Accumulated Depreciation	1,516	1,622	1,720	1,814	1,882	2,005	2,090	2,263	2,547	2,714	2,797	2,982	3,040	3,190	3,249
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	2,011	2,120	2,202	2,113	2,080	2,029	13,615	13,013	12,344	12,215	11,925	12,612	12,717	12,745	13,762
+ Total Intangible Assets	1,414	1,504	1,492	1,447	1,399	1,382	12,817	12,158	11,739	11,520	11,136	11,585	11,506	11,113	12,003
+ Goodwill	1,108	1,156	1,179	1,158	1,143	1,127	6,814	6,957	7,005	7,049	7,135	7,583	7,626	7,580	8,037
+ Other Intangible Assets	306	348	313	289	255	255	6,002	5,202	4,734	4,471	4,002	4,002	3,880	3,533	3,966
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	597	616	710	665	681	647	799	855	604	694	789	1,027	1,211	1,632	1,759
Total Assets	5,229	6,235	6,383	5,699	5,779	6,753	19,900	19,134	20,496	20,402	20,667	22,594	22,954	23,633	25,902
+ Payables & Accruals	1,809	1,804	1,929	1,998	2,099	2,088	3,352	3,662	3,516	4,182	4,286	4,557	4,705	4,630	4,890
+ Accounts Payable	965	923	998	1,042	1,158	1,035	1,792	1,799	1,876	2,118	2,403	2,436	2,315	2,253	2,354
+ Accrued Taxes	372	367	417	447	419	475	588	585	638	936	877	982	1,060	1,017	1,027
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	472	514	513	509	522	579	973	1,277	1,001	1,128	1,006	1,138	1,330	1,360	1,509
+ ST Debt	354	73	599	683	43	741	635	636	1,006	412	1,434	1,404	1,922	2,178	2,030
+ ST Borrowings	354	73	599	683	43	741	635	636	634	25	1,024	979	1,473	1,712	1,551
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	372	387	410	425	449	467	480
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	2,163	1,876	2,529	2,681	2,142	2,829	3,987	4,298	4,522	4,594	5,720	5,961	6,627	6,809	6,920
+ LT Debt	639	1,632	1,122	1,116	1,907	1,211	9,886	8,708	9,421	9,701	10,062	11,104	9,887	9,735	10,912
+ LT Borrowings	639	1,632	1,122	1,116	1,907	1,211	9,886	8,708	8,051	8,267	8,591	9,591	8,378	8,177	9,321
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	1,371	1,434	1,471	1,513	1,510	1,558	1,592
+ Other LT Liabilities	910	934	957	906	862	834	2,379	2,398	2,430	2,495	2,448	2,427	2,724	3,038	3,471
+ Accrued Liabilities	- -	- -	- -	- -	139	74	1,420	1,131	970	846	768	682	683	608	765
+ Pension Liabilities	298	320	269	278	249	250	275	258	263	276	259	139	133	121	130
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	613	614	688	628	475	509	684	1,009	1,197	1,374	1,421	1,606	1,908	2,309	2,576
Total Noncurrent Liabilities	1,550	2,566	2,079	2,022	2,769	2,045	12,264	11,106	11,851	12,196	12,510	13,531	12,612	12,773	14,383
Total Liabilities	3,712	4,443	4,608	4,703	4,911	4,874	16,252	15,404	16,373	16,791	18,230	19,492	19,239	19,581	21,303
+ Preferred Equity and Hybrid Capital	160	101	40	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1,405	1,785	1,961	2,194	2,446	2,605	2,841	3,015	3,272	3,581	3,884	4,055	4,285	4,669	4,288
+ Common Stock	107	112	113	115	116	117	118	118	119	90	91	91	92	92	83
+ Additional Paid in Capital	1,298	1,674	1,848	2,080	2,330	2,489	2,723	2,896	3,153	3,491	3,793	3,964	4,194	4,576	4,204
- Treasury Stock	277	850	1,639	3,150	4,220	4,236	4,266	4,901	5,836	96	2,870	3,776	5,234	6,989	84
+ Retained Earnings	756	1,226	1,774	2,425	3,229	4,049	5,458	6,246	7,367	844	2,122	3,523	5,288	7,246	1,029
+ Other Equity	-368	-370	-321	-472	-587	-540	-385	-630	-680	-718	-698	-701	-624	-875	-634
Equity Before Minority Interest	1,517	1,792	1,775	996	868	1,878	3,648	3,731	4,123	3,611	2,437	3,102	3,716	4,051	4,598
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,517	1,792	1,775	996	868	1,878	3,648	3,731	4,123	3,611	2,437	3,102	3,716	4,051	4,598
Total Liabilities & Equity	5,229	6,235	6,383	5,699	5,779	6,753	19,900	19,134	20,496	20,402	20,667	22,594	22,954	23,633	25,902
Shares Outstanding	312	310	300	284	277	279	282	279	276	269	261	259	255	251	248
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	1,742	1,821	1,880	1,938	1,959	2,025	2,071
Net Debt	961	842	977	1,758	1,744	1,063	10,316	9,188	8,523	8,066	9,449	10,371	9,574	9,678	10,664
Net Debt to Equity	63.33	47.01	55.06	176.42	200.96	56.58	282.8	246.29	206.71	223.37	387.71	334.32	257.66	238.89	231.91
Tangible Common Equity Ratio	-1.5	3.96	4.95	-10.61	-12.12	9.25	-129.45	-120.81	-86.97	-89.06	-91.27	-77.06	-68.05	-56.41	-53.27
Current Ratio	1.05	1.68	1.25	0.96	1.24	1.28	1.11	1.01	1.02	1	0.88	0.99	0.83	0.79	0.87
Cash Conversion Cycle	38.72	37.23	37.74	36.08	31.29	33.42	45	42.78	42.93	35.08	28.68	40	41.13	38.89	40.26

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	442	631	753	866	1,054	1,133	1,770	1,109	1,541	2,030	1,864	2,020	2,389	2,681	2,568
+ Depreciation & Amortization	181	179	188	199	199	197	492	596	575	581	573	581	622	624	677
+ Non-Cash Items	158	102	156	113	122	207	-361	62	679	509	461	469	704	352	842
+ Stock-Based Compensation	48	54	58	65	72	72	90	83	102	96	98	100	116	138	124
+ Deferred Income Taxes	14	-10	28	-19	5	-68	-621	-143	-131	-145	-80	-145	-89	-75	153
+ Asset Impairment Charge	5	4	- -	- -	- -	11	2	- -	122	2	- -	16	58	- -	18
+ Other Non-Cash Adj	90	54	70	68	45	192	167	123	586	556	444	499	619	288	548
+ Chg in Non-Cash Work Cap	-45	-24	-13	-97	73	-228	-16	176	-474	288	-653	-1,150	-193	-504	-636
+ (Inc) Dec in Accts Receiv	-94	-67	-28	-117	-38	-115	-65	38	-121	51	-326	-153	111	-10	-179
+ (Inc) Dec in Inventories	-19	20	25	-101	-41	-53	-90	-120	-76	84	-228	-667	323	-33	132
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	69	-121	46	92	165	-121	146	253	41	326	313	8	-250	8	-60
+ Inc (Dec) in Other	-1	144	-56	30	-13	61	-7	5	-319	-174	-412	-340	-378	-469	-530
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	736	888	1,084	1,082	1,447	1,309	1,884	1,944	2,321	3,409	2,245	1,920	3,522	3,153	3,452
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-367	-558	-769	-1,489	-1,035	- -	- -	-613	-779	-2,264	-2,741	-861	-1,432	-1,739	-1,656
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	182	12	22	- -	- -	- -
+ Decrease in Capital Stock	-367	-558	-769	-1,489	-1,035	- -	- -	-613	-779	-2,446	-2,752	-883	-1,432	-1,739	-1,656
+ Net Change in LT Investment	-92	-96	-95	-111	-66	-103	-62	-39	-63	-79	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-92	-96	-95	-111	-66	-103	-62	-39	-63	-79	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-44	-99	-80	- -	- -	- -	-8,810	- -	-77	- -	-88	-1,003	-161	-79	-1,211
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	122	- -	104	- -	- -
+ Cash for Acq of Subs	-44	-99	-80	- -	- -	- -	-8,810	- -	-77	- -	-211	-1,003	-265	-79	-1,211
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-141	-147	-164	-199	-223	-201	-176	-213	-322	-243	-388	-604	-878	-1,117	-855
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-278	-342	-338	-310	-289	-304	-9,047	-252	-463	-322	-476	-1,608	-1,039	-1,196	-2,066
+ Dividends Paid	-154	-161	-205	-215	-250	-312	-319	-323	-421	-488	-587	-618	-624	-723	-790
+ Net Cash From Debt	-9	986	-10	-499	798	-66	6,373	-632	-679	-420	1,324	1,154	-434	273	1,014
+ Cash From Debt	41	1,000	- -	1	798	- -	8,275	225	1,333	999	1,759	1,421	306	1,382	2,077
+ Repayments of Debt	-50	-14	-11	-501	- -	-66	-1,902	-858	-2,012	-1,419	-434	-268	-740	-1,109	-1,064
+ Other Financing Activities	55	20	131	736	-493	70	460	-178	33	152	169	44	65	172	54
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-475	287	-853	-1,467	-980	-307	6,514	-1,747	-1,846	-3,020	-1,834	-282	-2,425	-2,017	-1,379
Effect of Foreign Exchange Rates	-9	-2	-10	-9	-13	-13	-36	6	-6	-1	5	3	20	-6	-10
Net Changes in Cash	-17	832	-108	-696	178	697	-649	-55	12	66	-66	30	58	-60	7
EBITDA	956	1,119	1,339	1,504	1,813	1,910	2,191	2,487	3,000	3,436	3,237	3,582	4,229	4,386	4,474
EBITDA Margin (%)	10.9	11.74	13.15	13.52	15.99	16.11	14.62	14.18	16.76	18.71	16.23	16.17	18.35	18.99	18.98
Free Cash Flow	736	888	1,084	1,082	1,447	1,309	1,884	1,944	2,321	3,409	2,245	1,920	3,522	3,153	3,452
Net Cash Paid for Acquisitions	44	99	80	- -	- -	- -	8,810	- -	77	- -	88	1,003	161	79	1,211
Free Cash Flow to Firm	761	918	1,127	1,126	1,490	1,418	- -	2,243	2,593	3,683	2,522	2,227	3,843	3,476	3,809
Free Cash Flow to Equity	670	1,814	1,013	542	2,245	1,243	8,257	1,311	1,642	2,988	3,569	3,074	3,088	3,426	4,465
Free Cash Flow per Basic Share	2.37	2.91	3.58	3.75	5.23	4.75	6.76	6.97	8.43	12.56	8.55	7.44	13.79	12.56	13.94
Price/Free Cash Flow	12.82	18	17.45	23.85	16.86	19.4	20.66	19.23	23.49	19.82	41.91	32.36	22.88	27.39	23.51
Cash Flow to Net Income	1.67	1.41	1.44	1.25	1.37	1.16	1.09	1.75	1.51	1.68	1.2	0.95	1.47	1.18	1.34
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -