Sirius XM Holdings Inc.

SIRI

SIRISirius XM Holdings Inc. US flag

NASDAQ Global Select

27.59

USD

-0.02

- -

9.29BMarket 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	3,015	3,402	3,799	4,181	4,570	5,017	5,425	5,771	7,794	8,040	8,696	9,003	8,953	8,699	8,558
+ Sales & Services Revenue	3,015	3,402	3,799	4,181	4,570	5,017	5,425	5,771	7,794	8,040	8,696	9,003	8,953	8,699	8,558
- Cost of Revenue	1,556	1,704	1,890	2,102	2,376	2,506	2,600	2,779	3,854	3,941	4,293	4,482	4,568	4,498	4,532
+ Cost of Goods & Services	1,556	1,704	1,890	2,102	2,376	2,506	2,600	2,779	3,854	3,941	4,293	4,482	4,568	4,498	4,532
Gross Profit	1,459	1,698	1,909	2,079	2,194	2,511	2,825	2,992	3,940	4,099	4,403	4,521	4,385	4,201	4,026
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	783	826	864	960	1,016	1,079	1,184	1,262	2,209	2,237	2,368	2,534	2,485	2,265	2,119
+ Selling, General & Admin	462	511	553	630	679	728	773	838	1,461	1,468	1,570	1,638	1,539	1,391	1,309
+ Research & Development	53	49	58	63	64	82	112	123	280	263	265	285	322	296	263
+ Other Operating Expense	268	266	253	266	272	269	299	301	468	506	533	611	624	578	547
Operating Income (Loss)	676	872	1,045	1,120	1,179	1,432	1,641	1,730	1,731	1,862	2,035	1,987	1,900	1,936	1,907
- Non-Operating (Income) Loss	235	398	407	289	287	340	377	309	534	1,432	509	501	690	3,801	851
+ Interest Expense, Net	231	265	198	254	299	331	346	342	377	394	415	503	534	496	459
+ Interest Expense	305	265	205	269	299	331	346	350	390	394	415	503	534	496	459
- Interest Income	74	1	7	15	- -	- -	- -	8	13	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	4	133	210	35	-12	9	31	-33	157	1,038	94	-2	156	3,305	392
Pretax Income	441	474	637	831	892	1,092	1,264	1,421	1,197	430	1,526	1,486	1,210	-1,865	1,056
- Income Tax Expense (Benefit)	14	-2,998	260	338	382	346	616	245	283	299	212	368	222	210	251
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	427	3,473	377	493	510	746	648	1,176	914	131	1,314	1,118	988	-2,075	805
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	420	404	-820	- -
+ Discontinued Operations	239	252	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-239	-252	- -	- -	- -	- -	- -	- -	- -	- -	- -	420	404	-820	- -
Income (Loss) Incl. MI	427	3,473	377	493	510	746	648	1,176	914	131	1,314	698	584	-1,255	805
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-210	-202	410	- -
Net Income, GAAP	427	3,473	377	493	510	746	648	1,176	914	131	1,314	908	786	-1,665	805
- Preferred Dividends	174	1,150	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	253	2,323	373	493	510	746	648	1,176	914	131	1,314	908	786	-1,665	805
EBIT	676	872	1,045	1,120	1,179	1,432	1,641	1,730	1,731	1,862	2,035	1,987	1,900	1,936	1,907
EBITDA	676	872	1,045	1,120	1,179	1,432	1,940	2,031	2,255	1,862	2,035	2,647	2,569	1,936	1,907
EBITDA Margin (%)	22.43	25.63	27.49	26.78	25.79	28.54	35.76	35.19	28.93	23.16	23.4	29.4	28.69	22.26	22.28
EBITA	408	606	791	853	906	1,163	1,641	1,730	1,731	1,300	1,452	1,987	1,900	1,314	1,318
Gross Margin (%)	48.4	49.91	50.25	49.73	48.01	50.05	52.07	51.85	50.55	50.98	50.63	50.22	48.98	48.29	47.04
Operating Margin (%)	22.43	25.63	27.49	26.78	25.79	28.54	30.25	29.98	22.21	23.16	23.4	22.07	21.22	22.26	22.28
Profit Margin (%)	14.16	102.08	9.93	11.8	11.15	14.87	11.94	20.38	11.73	1.63	15.11	10.09	8.78	-19.14	9.41
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	0.41	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	268	266	253	266	272	269	299	301	524	562	583	660	669	622	589
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	464	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	1.4	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	1.4	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Weighted Avg Shares	650	687	638	586	544	496	472	456	462	443	414	399	389	338	357
Diluted EPS, GAAP	0.39	3.38	0.58	0.84	0.94	1.5	1.37	2.58	1.98	0.3	3.17	2.28	2.02	-4.93	2.25
Diluted EPS from Cont Ops	0.66	5.05	0.59	0.84	0.94	1.5	1.37	2.58	1.98	0.3	3.17	2.8	2.54	-6.14	2.25

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	1,277	1,828	1,419	1,550	562	643	471	478	1,003	967	1,180	1,038	1,361	1,149	1,098
+ Cash, Cash Equivalents & STI	774	521	135	148	112	214	69	54	106	71	191	57	306	162	94
+ Cash & Cash Equivalents	774	521	135	148	112	214	69	54	106	71	191	57	306	162	94
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	187	211	193	221	235	223	242	233	670	672	722	655	709	676	761
+ Accounts Receivable, Net	102	106	86	94	93	97	91	98	532	559	626	574	616	596	671
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	85	104	106	127	142	126	151	135	138	113	96	81	93	80	90
+ Inventories	37	25	14	19	22	20	20	22	11	10	- -	- -	- -	- -	- -
+ Raw Materials	24	18	12	12	11	10	6	5	3	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	28	24	16	18	21	20	21	23	13	13	- -	- -	- -	- -	- -
+ Inventory Adjustments	-15	-16	-14	-11	-10	-9	-8	-6	-5	-3	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	280	1,071	1,077	1,162	193	185	140	169	216	214	267	326	346	311	243
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	6,219	7,227	7,426	6,819	7,485	7,361	7,858	7,695	10,146	9,366	9,094	8,984	28,695	26,372	26,139
+ Property, Plant & Equip, Net	1,674	1,572	1,595	1,510	1,415	1,399	1,463	1,513	2,092	2,056	1,808	1,814	1,791	2,109	2,260
+ Property, Plant & Equip	2,936	3,042	3,252	3,360	3,449	2,824	3,071	3,364	4,263	4,501	4,568	4,908	4,941	5,733	6,075
- Accumulated Depreciation	1,262	1,470	1,657	1,850	2,034	1,425	1,609	1,851	2,171	2,445	2,760	3,094	3,150	3,624	3,815
+ LT Investments & Receivables	4	4	6	6	- -	9	962	960	321	332	334	412	715	1,043	941
+ LT Investments	4	4	6	6	- -	9	962	960	321	332	334	412	715	1,043	941
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4,541	5,651	5,825	5,303	6,069	5,953	5,434	5,222	7,733	6,978	6,952	6,758	26,189	23,220	22,938
+ Total Intangible Assets	4,408	4,335	4,905	4,850	4,798	4,750	4,809	4,791	7,310	6,462	6,337	6,299	25,519	22,579	22,455
+ Goodwill	1,835	1,815	2,205	2,205	2,205	2,205	2,287	2,290	3,843	3,122	3,151	3,249	15,209	12,390	12,390
+ Other Intangible Assets	2,574	2,520	2,700	2,645	2,593	2,545	2,523	2,501	3,467	3,340	3,186	3,050	10,310	10,189	10,065
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	133	1,316	921	453	1,271	1,203	624	431	423	516	615	459	670	641	483
Total Assets	7,496	9,055	8,845	8,369	8,047	8,004	8,329	8,173	11,149	10,333	10,274	10,022	30,056	27,521	27,237
+ Payables & Accruals	614	622	620	668	717	828	932	864	1,311	1,397	1,472	1,413	1,477	1,456	1,461
+ Accounts Payable	543	588	578	588	625	713	794	736	1,151	1,223	1,299	1,248	1,303	1,284	1,290
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	70	34	42	80	92	115	137	128	160	174	173	165	174	172	171
+ ST Debt	2	4	508	7	5	5	5	3	48	49	49	246	1,079	61	1,058
+ ST Borrowings	2	4	508	7	5	5	5	3	2	1	- -	196	1,079	61	1,058
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	46	48	49	50	46	- -	- -
+ Other ST Liabilities	1,632	1,689	1,611	1,638	1,775	1,835	1,885	1,936	1,934	1,721	1,459	1,322	1,395	1,214	1,134
+ Deferred Revenue	1,334	1,474	1,587	1,632	1,772	1,833	1,882	1,932	1,930	1,721	1,454	1,322	1,195	1,050	976
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	298	215	24	6	3	3	3	4	4	- -	5	- -	200	164	158
Total Current Liabilities	2,248	2,315	2,739	2,314	2,496	2,669	2,822	2,803	3,293	3,167	2,980	2,981	3,951	2,731	3,653
+ LT Debt	3,012	2,431	3,094	4,487	5,444	5,843	6,741	6,885	8,298	8,918	9,194	9,576	10,073	10,314	8,648
+ LT Borrowings	3,012	2,431	3,094	4,487	5,444	5,843	6,741	6,885	7,842	8,499	8,832	9,256	10,073	10,314	8,648
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	456	419	362	320	292	- -	- -
+ Other LT Liabilities	1,532	270	266	258	273	284	290	302	294	533	725	816	2,930	3,402	3,373
+ Accrued Liabilities	1,427	165	150	152	164	183	183	196	200	384	575	646	2,502	2,302	2,330
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	104	105	116	106	109	102	108	106	94	149	150	170	428	1,100	1,043
Total Noncurrent Liabilities	4,544	2,701	3,360	4,745	5,717	6,127	7,032	7,187	8,592	9,451	9,919	10,392	13,003	13,716	12,021
Total Liabilities	6,792	5,015	6,099	7,059	8,213	8,796	9,853	9,990	11,885	12,618	12,899	13,373	16,954	16,447	15,674
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	10,488	10,351	8,680	6,777	4,789	3,122	1,718	246	399	4	4	4	- -	- -	- -
+ Common Stock	4	5	6	6	5	5	5	4	4	4	4	4	- -	- -	- -
+ Additional Paid in Capital	10,484	10,346	8,674	6,772	4,784	3,118	1,714	242	395	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	26	24	23	17	- -	- -	19	8	- -	- -	1	1
+ Retained Earnings	-9,784	-6,311	-5,934	-5,441	-4,931	-3,891	-3,243	-2,057	-1,143	-2,285	-2,636	-3,351	15,353	11,121	11,614
+ Other Equity	- -	- -	- -	- -	-1	- -	18	-6	8	15	15	-4	7	-46	-50
Equity Before Minority Interest	704	4,040	2,746	1,310	-166	-792	-1,524	-1,817	-736	-2,285	-2,625	-3,351	10,076	11,074	11,563
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3,026	- -	- -
Total Equity	704	4,040	2,746	1,310	-166	-792	-1,524	-1,817	-736	-2,285	-2,625	-3,351	13,102	11,074	11,563
Total Liabilities & Equity	7,496	9,055	8,845	8,369	8,047	8,004	8,329	8,173	11,149	10,333	10,274	10,022	30,056	27,521	27,237
Shares Outstanding	375	526	610	565	515	474	453	435	441	417	397	389	384	339	335
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	502	467	411	370	338	- -	- -
Net Debt	2,240	1,914	3,467	4,347	5,337	5,634	6,677	6,834	7,738	8,429	8,641	9,395	10,846	10,213	9,612
Net Debt to Equity	318.11	47.39	126.26	331.89	-3,205.3	-711.39	-438.18	-376.11	-1,051.36	-368.88	-329.18	-280.36	82.78	92.23	83.13
Tangible Common Equity Ratio	-119.98	-6.26	-54.79	-100.61	-152.85	-170.33	-179.93	-195.39	-209.59	-225.96	-227.64	-259.2	-273.68	-232.8	-227.77
Current Ratio	0.57	0.79	0.52	0.67	0.23	0.24	0.17	0.17	0.3	0.31	0.4	0.35	0.34	0.42	0.3
Cash Conversion Cycle	-111.66	-104.13	-100.23	-90.23	-82.42	-87.53	-96.64	-91.69	-73.3	-84.23	-82.17	-79.38	-77.66	-79.54	-76.63

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	427	3,473	377	493	510	746	648	1,176	914	131	1,314	1,118	988	-2,075	805
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	299	301	524	- -	- -	660	669	- -	- -
+ Non-Cash Items	-287	-3,023	659	777	795	795	813	417	653	2,155	1,095	543	341	4,075	1,182
+ Stock-Based Compensation	53	64	69	78	84	109	124	133	250	223	202	209	203	200	179
+ Deferred Income Taxes	8	-3,002	260	327	365	324	584	257	259	238	131	240	-40	-161	29
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,000	24	65	26	3,355	228
+ Other Non-Cash Adj	-348	-85	331	372	345	363	105	27	144	694	738	29	152	681	746
+ Chg in Non-Cash Work Cap	50	92	66	-17	-61	179	96	-14	-74	-268	-411	-340	-169	-259	-89
+ (Inc) Dec in Accts Receiv	-30	-59	-15	-73	-61	-44	-74	-42	-137	-36	-108	-28	-148	-128	-84
+ (Inc) Dec in Inventories	-15	11	11	-6	-3	2	2	-2	11	-2	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	9	1	17	-1	-67	7	50	-20	21	12	-47	-38	-26	- -	- -
+ Inc (Dec) in Accts Payable	-34	10	-36	21	64	102	64	-29	141	55	103	-163	98	19	59
+ Inc (Dec) in Other	120	129	89	41	7	112	54	79	-110	-297	-359	-111	-93	-150	-64
+ Net Cash From Disc Ops	354	265	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	544	807	1,103	1,253	1,244	1,719	1,856	1,880	2,017	2,018	1,998	1,981	1,829	1,741	1,898
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-137	-97	-174	-122	-135	-206	-288	-355	-363	-350	-388	-426	-650	-728	-653
+ Acq of Fixed Prod Assets	-137	-97	-174	-122	-135	-206	-288	-355	-363	-350	-388	-426	-650	-728	-653
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	-1,762	-2,497	-2,018	-1,674	-1,409	-1,314	-2,159	-1,555	-1,523	-647	-274	-6	-136
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	-1,762	-2,497	-2,018	-1,674	-1,409	-1,314	-2,159	-1,555	-1,523	-647	-274	-6	-136
+ Net Change in LT Investment	-1	- -	-2	24	-4	-4	-8	-8	66	-8	-4	66	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	24	- -	- -	- -	- -	73	- -	- -	66	- -	- -	- -
+ Inc in LT Investment	-1	- -	-2	- -	-4	-4	-8	-8	-7	-8	-4	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	-525	1	- -	- -	-720	-19	294	-394	-35	-136	-39	- -	- -
+ Cash from Divestitures	- -	- -	- -	1	- -	- -	- -	- -	313	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	-525	- -	- -	- -	-720	-19	-19	-394	-35	-136	-39	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	10	- -	- -	- -	- -	- -	-131	3	- -	11	227	3	-7	-242	-94
+ Net Cash From Disc Ops	-4	-10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-128	-97	-701	-96	-139	-210	-1,147	-379	-3	-741	-200	-493	-696	-970	-747
+ Dividends Paid	- -	-327	- -	- -	- -	-48	-190	-201	-226	-237	-268	-249	-65	-143	-365
+ Net Cash From Debt	-240	-759	998	1,390	931	357	837	120	565	592	-429	341	-1,181	-709	-679
+ Cash From Debt	- -	384	3,156	2,406	984	1,037	2,383	136	2,715	2,130	6,796	5,200	4,351	5,310	1,462
+ Repayments of Debt	-240	-1,142	-2,158	-1,016	-52	-680	-1,546	-16	-2,150	-1,538	-7,225	-4,859	-5,532	-6,019	-2,141
+ Other Financing Activities	12	123	-24	-37	-54	-42	-92	-120	-139	-114	538	-1,169	332	-58	-39
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-228	-962	-788	-1,144	-1,141	-1,407	-854	-1,515	-1,959	-1,314	-1,682	-1,724	-1,188	-916	-1,219
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	187	-253	-386	13	-36	102	-145	-14	55	-37	116	-236	-55	-145	-68
EBITDA	676	872	1,045	1,120	1,179	1,432	1,940	2,031	2,255	1,862	2,035	2,647	2,569	1,936	1,907
EBITDA Margin (%)	22.43	25.63	27.49	26.78	25.79	28.54	35.76	35.19	28.93	23.16	23.4	29.4	28.69	22.26	22.28
Free Cash Flow	406	709	929	1,132	1,109	1,513	1,568	1,525	1,654	1,668	1,610	1,555	1,179	1,013	1,245
Net Cash Paid for Acquisitions	- -	- -	525	-1	- -	- -	720	19	-294	394	35	136	39	- -	- -
Free Cash Flow to Firm	701	210	1,050	1,291	1,280	1,740	1,745	1,815	1,952	1,788	1,967	1,933	1,615	- -	1,595
Free Cash Flow to Equity	-8	-1,199	1,924	2,521	2,041	1,870	2,405	1,645	2,219	2,260	1,181	1,896	-2	304	566
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	3.38	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow	17.37	21.97	17.46	14.92	16.04	11.48	11.81	11.65	13.87	11.91	11.03	9.68	8.58	3.12	2.8
Cash Flow to Net Income	1.27	0.23	2.92	2.54	2.44	2.3	2.86	1.6	2.21	15.4	1.52	2.18	2.33	-1.05	2.36
Capital Expenditures	-137	-97	-174	-122	-135	-206	-288	-355	-363	-350	-388	-426	-650	-728	-653