The J. M. Smucker Company

SJM

SJMThe J. M. Smucker Company US flag

New York Stock Exchange

101.27

USD

+0.80

- -

10.80BMarket 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	4,826	5,526	5,898	5,611	5,693	7,811	7,392	7,357	7,838	7,801	8,003	7,999	8,529	8,179	8,726
+ Sales & Services Revenue	4,826	5,526	5,898	5,611	5,693	7,811	7,392	7,357	7,838	7,801	8,003	7,999	8,529	8,179	8,726
- Cost of Revenue	3,027	3,681	3,870	3,580	3,724	4,843	4,557	4,521	4,922	4,799	4,864	5,298	5,727	5,063	5,341
+ Cost of Goods & Services	3,027	3,681	3,870	3,580	3,724	4,843	4,557	4,521	4,922	4,799	4,864	5,298	5,727	5,063	5,341
Gross Profit	1,798	1,845	2,028	2,031	1,969	2,968	2,835	2,836	2,916	3,002	3,139	2,701	2,802	3,115	3,385
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	938	978	1,068	1,086	1,139	1,687	1,583	1,570	1,718	1,710	1,753	1,528	1,621	1,666	1,730
+ Selling, General & Admin	863	893	974	989	1,031	1,510	1,380	1,363	1,509	1,474	1,523	1,360	1,455	1,446	1,529
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	74	86	94	98	108	176	203	207	209	236	230	168	166	220	201
Operating Income (Loss)	861	867	960	945	830	1,281	1,253	1,266	1,198	1,292	1,386	1,173	1,181	1,449	1,654
- Non-Operating (Income) Loss	144	166	143	95	307	303	374	405	496	265	214	329	1,190	452	2,701
+ Interest Expense, Net	65	78	93	79	80	171	163	174	208	189	177	161	152	284	358
+ Interest Expense	67	80	93	79	80	171	163	174	208	189	177	161	152	284	389
- Interest Income	3	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	30
+ Other Non-Op (Income) Loss	79	87	49	16	227	132	211	231	288	76	37	168	1,038	169	2,343
Pretax Income	717	701	817	850	523	978	878	861	702	1,027	1,172	844	-9	996	-1,047
- Income Tax Expense (Benefit)	238	242	273	284	178	289	286	-478	187	247	296	212	82	252	184
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	480	460	544	565	345	689	592	1,339	514	780	876	632	-91	744	-1,231
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	480	460	544	565	345	689	592	1,339	514	780	876	632	-91	744	-1,231
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	480	460	544	565	345	689	592	1,339	514	780	876	632	-91	744	-1,231
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	480	460	544	565	345	689	592	1,339	514	780	876	632	-91	744	-1,231
EBIT	861	867	960	945	830	1,281	1,253	1,266	1,198	1,292	1,386	1,173	1,181	1,449	1,654
EBITDA	1,047	1,075	1,211	1,201	1,097	1,711	1,672	1,679	1,644	1,738	1,838	1,632	1,612	1,880	2,157
EBITDA Margin (%)	21.7	19.46	20.53	21.41	19.27	21.91	22.61	22.83	20.98	22.29	22.97	20.4	18.9	22.98	24.72
EBITA	861	867	960	945	830	1,281	1,253	1,266	1,198	1,292	1,386	1,173	1,181	1,449	1,654
Gross Margin (%)	37.27	33.39	34.38	36.2	34.58	37.99	38.35	38.55	37.2	38.48	39.22	33.76	32.85	38.09	38.79
Operating Margin (%)	17.84	15.68	16.28	16.84	14.58	16.4	16.95	17.21	15.28	16.56	17.32	14.66	13.84	17.72	18.96
Profit Margin (%)	9.94	8.32	9.23	10.07	6.06	8.82	8.01	18.19	6.56	9.99	10.95	7.9	-1.07	9.1	-14.1
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.66	1.89	2.05	2.28	2.45	2.65	2.92	3.08	3.32	3.48	3.59	3.86	4.05	4.2	4.28
Depreciation Expense	186	208	251	256	267	430	419	413	446	446	452	459	431	431	502
Basic Weighted Avg Shares	117	113	109	104	104	119	116	114	114	114	112	108	106	104	106
Basic EPS, GAAP	4.1	4.06	5	5.42	3.33	5.77	5.11	11.78	4.52	6.84	7.8	5.84	-0.86	7.15	-11.57
Basic EPS from Cont Ops	4.1	4.06	5	5.42	3.33	5.77	5.11	11.78	4.52	6.84	7.8	5.84	-0.86	7.15	-11.57
Diluted Weighted Avg Shares	117	113	109	104	104	119	116	114	114	114	112	108	106	104	106
Diluted EPS, GAAP	4.09	4.06	5	5.42	3.33	5.76	5.1	11.78	4.52	6.84	7.8	5.83	-0.86	7.13	-11.57
Diluted EPS from Cont Ops	4.09	4.06	5	5.42	3.33	5.76	5.1	11.78	4.52	6.84	7.8	5.83	-0.86	7.13	-11.57

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	1,637	1,644	1,595	1,539	1,984	1,573	1,642	1,555	1,625	1,973	1,942	2,010	2,859	1,967	2,147
+ Cash, Cash Equivalents & STI	320	230	256	154	126	110	167	193	101	391	334	170	1,144	62	70
+ Cash & Cash Equivalents	320	230	256	154	126	110	167	193	101	391	334	170	656	62	70
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	488	- -	- -
+ Accounts & Notes Receiv	344	348	314	309	430	450	439	386	504	551	534	525	598	736	619
+ Accounts Receivable, Net	344	348	314	309	430	450	439	386	504	551	534	525	598	736	619
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	864	962	946	931	1,164	899	906	854	910	895	960	1,089	1,010	1,039	1,209
+ Raw Materials	345	318	327	360	349	339	343	312	320	332	352	385	352	400	529
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	518	644	619	572	815	560	562	542	591	564	608	704	658	639	680
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	109	105	80	145	265	114	131	122	110	135	114	226	108	130	248
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	6,688	7,472	7,437	7,521	14,822	14,411	13,998	13,746	15,086	14,998	14,342	14,045	12,133	18,307	15,417
+ Property, Plant & Equip, Net	868	1,096	1,142	1,266	1,678	1,628	1,618	1,729	1,912	2,118	2,144	2,238	2,342	3,247	3,195
+ Property, Plant & Equip	1,524	1,853	1,985	2,164	2,699	2,804	2,982	3,256	3,532	3,887	3,985	4,218	4,263	5,347	5,533
- Accumulated Depreciation	657	757	843	898	1,021	1,177	1,364	1,527	1,620	1,769	1,842	1,980	1,920	2,100	2,338
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	41	39	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	41	39	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	5,820	6,376	6,294	6,256	13,144	12,783	12,380	12,017	13,133	12,841	12,199	11,807	9,790	15,060	12,222
+ Total Intangible Assets	5,753	6,242	6,142	6,122	12,962	12,586	12,227	11,859	13,030	12,734	12,065	11,668	9,646	14,905	12,057
+ Goodwill	2,813	3,055	3,053	3,098	6,012	6,091	6,077	5,942	6,311	6,304	6,024	6,016	5,217	7,650	5,710
+ Other Intangible Assets	2,940	3,187	3,089	3,024	6,950	6,494	6,150	5,916	6,719	6,429	6,041	5,652	4,429	7,255	6,347
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	67	134	152	133	182	198	153	158	103	108	134	139	144	154	165
Total Assets	8,325	9,115	9,032	9,060	16,806	15,984	15,640	15,301	16,711	16,970	16,284	16,055	14,991	20,274	17,563
+ Payables & Accruals	348	390	399	407	584	650	668	702	830	1,050	1,332	1,492	1,687	1,663	1,592
+ Accounts Payable	235	275	286	289	403	459	477	512	591	782	1,034	1,193	1,393	1,336	1,289
+ Accrued Taxes	8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	105	115	113	118	181	190	191	190	239	268	298	299	294	327	303
+ ST Debt	- -	50	50	343	226	284	953	144	1,224	284	1,276	220	33	1,590	641
+ ST Borrowings	- -	50	50	343	226	284	953	144	1,224	248	1,235	180	- -	1,590	641
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	36	41	40	33	40	- -
+ Other ST Liabilities	135	177	148	136	212	279	211	188	287	253	259	240	267	508	419
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	135	177	148	136	212	279	211	188	287	253	259	240	267	508	419
Total Current Liabilities	483	617	597	886	1,023	1,213	1,833	1,034	2,342	1,587	2,868	1,953	1,987	3,761	2,652
+ LT Debt	1,304	2,020	1,968	1,873	5,945	5,146	4,446	4,688	4,686	5,493	3,630	4,387	4,391	6,917	7,121
+ LT Borrowings	1,304	2,020	1,968	1,873	5,945	5,146	4,446	4,688	4,686	5,373	3,517	4,311	4,314	6,774	7,037
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	120	113	76	77	144	84
+ Other LT Liabilities	1,246	1,314	1,318	1,272	2,752	2,617	2,511	1,688	1,713	1,699	1,662	1,575	1,322	1,902	1,708
+ Accrued Liabilities	1,043	993	987	1,021	2,397	2,230	2,167	1,377	1,399	1,352	1,349	1,326	1,139	1,737	1,549
+ Pension Liabilities	159	216	230	194	264	298	256	206	204	249	216	169	111	98	99
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	44	105	101	57	91	88	88	105	110	98	97	80	72	66	60
Total Noncurrent Liabilities	2,550	3,335	3,286	3,145	8,697	7,763	6,957	6,376	6,399	7,192	5,292	5,962	5,714	8,819	8,829
Total Liabilities	3,032	3,952	3,883	4,031	9,719	8,976	8,790	7,410	8,741	8,780	8,159	7,915	7,701	12,580	11,481
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	4,425	4,289	4,152	3,991	6,038	5,889	5,753	5,769	5,785	5,823	5,555	5,484	5,398	5,740	5,765
+ Common Stock	29	28	27	25	30	29	28	29	29	29	27	27	26	26	27
+ Additional Paid in Capital	4,397	4,261	4,125	3,966	6,008	5,860	5,725	5,740	5,756	5,794	5,528	5,458	5,372	5,714	5,739
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	867	961	1,076	1,091	1,159	1,268	1,240	2,239	2,368	2,747	2,848	2,893	2,132	2,188	502
+ Other Equity	4	-84	-77	-52	-110	-148	-143	-117	-182	-379	-277	-237	-239	-235	-184
Equity Before Minority Interest	5,292	5,163	5,149	5,030	7,087	7,008	6,850	7,891	7,970	8,191	8,125	8,140	7,291	7,694	6,083
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	5,292	5,163	5,149	5,030	7,087	7,008	6,850	7,891	7,970	8,191	8,125	8,140	7,291	7,694	6,083
Total Liabilities & Equity	8,325	9,115	9,032	9,060	16,806	15,984	15,640	15,301	16,711	16,970	16,284	16,055	14,991	20,274	17,563
Shares Outstanding	114	110	106	102	120	116	113	114	114	114	108	106	104	106	106
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	156	154	116	110	184	84
Net Debt	984	1,841	1,761	2,063	6,045	5,320	5,232	4,639	5,810	5,230	4,417	4,321	3,658	8,302	7,608
Net Debt to Equity	18.6	35.65	34.21	41.01	85.3	75.91	76.37	58.79	72.89	63.85	54.37	53.08	50.18	107.9	125.07
Tangible Common Equity Ratio	-17.9	-37.52	-34.38	-37.2	-152.82	-164.1	-157.55	-115.25	-137.42	-107.22	-93.38	-80.42	-44.07	-134.33	-108.5
Current Ratio	3.39	2.66	2.67	1.74	1.94	1.3	0.9	1.5	0.69	1.24	0.68	1.03	1.44	0.52	0.81
Cash Conversion Cycle	90.23	88.74	83.85	86.5	94.44	63.94	56.78	51.1	45.7	40.97	27.11	19.84	7.34	5.82	18.26

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	480	460	544	565	345	689	592	1,339	514	780	876	632	-91	744	-1,231
+ Depreciation & Amortization	186	208	251	256	267	430	419	413	446	446	452	459	431	431	502
+ Non-Cash Items	60	23	- -	37	154	-86	70	-648	63	-155	59	140	816	63	2,224
+ Stock-Based Compensation	24	22	21	23	24	35	22	15	21	27	29	22	26	24	30
+ Deferred Income Taxes	-60	-17	-16	-8	8	-95	-79	-803	-94	8	-14	-38	-191	-40	-108
+ Asset Impairment Charge	18	5	- -	- -	1	- -	133	177	205	52	4	150	- -	- -	1,982
+ Other Non-Cash Adj	78	14	-6	22	121	-25	-6	-37	-69	-242	41	6	981	80	319
+ Chg in Non-Cash Work Cap	-334	40	61	-2	-27	428	-22	114	117	184	177	-95	39	-8	-285
+ (Inc) Dec in Accts Receiv	-103	9	33	6	22	-22	9	55	-53	-49	22	8	-75	42	117
+ (Inc) Dec in Inventories	-204	-48	15	15	25	240	-10	54	-5	13	-110	-179	-135	3	-181
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	6	73	4	12	-166	48	-38	40	110	230	317	116	152	18	-122
+ Inc (Dec) in Other	-33	6	8	-36	92	162	17	-34	65	-9	-52	-40	96	-70	-100
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	392	731	856	856	739	1,461	1,059	1,218	1,141	1,255	1,565	1,136	1,194	1,229	1,210
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	6	4	3	11	3	4	- -	13	1	2	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	6	4	3	11	3	4	- -	13	1	2	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-180	-274	-206	-280	-248	-201	-192	-322	-360	-269	-307	-418	-477	-586	-394
+ Acq of Fixed Prod Assets	-180	-274	-206	-280	-248	-201	-192	-322	-360	-269	-307	-418	-477	-586	-394
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-389	-316	-364	-508	-24	-441	-438	-7	-5	-4	-678	-270	-368	-373	-3
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-389	-316	-364	-508	-24	-441	-438	-7	-5	-4	-678	-270	-368	-373	-3
+ Net Change in LT Investment	-18	19	- -	10	- -	- -	41	- -	- -	- -	- -	- -	- -	466	- -
+ Dec in LT Investment	57	19	- -	10	- -	- -	41	- -	- -	- -	- -	- -	- -	466	- -
+ Inc in LT Investment	-76	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	-764	- -	-102	-1,320	186	- -	- -	-1,534	- -	564	130	686	-3,864	326
+ Cash from Divestitures	- -	9	- -	- -	- -	202	- -	- -	370	- -	564	130	686	56	326
+ Cash for Acq of Subs	- -	-773	- -	-102	-1,320	-16	- -	- -	-1,903	- -	- -	- -	- -	-3,921	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	-20	18	-10	-30	34	-38	31	-32	-5	54	-68	47	20	-32
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-193	-1,036	-186	-370	-1,596	22	-190	-278	-1,924	-272	311	-356	256	-3,965	-100
+ Dividends Paid	-194	-214	-223	-238	-254	-317	-339	-350	-378	-397	-403	-418	-430	-438	-455
+ Net Cash From Debt	390	749	-50	198	1,166	-742	-30	-561	1,082	-102	-866	-262	-186	2,494	-650
+ Cash From Debt	400	749	- -	248	5,382	58	170	800	1,782	798	- -	895	- -	4,285	650
+ Repayments of Debt	-10	- -	-50	-50	-4,216	-800	-200	-1,360	-700	-900	-866	-1,157	-186	-1,791	-1,300
+ Other Financing Activities	23	- -	-4	-27	-31	1	1	-4	- -	-186	4	6	19	458	6
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-170	220	-641	-576	857	-1,499	-806	-922	699	-689	-1,944	-944	-965	2,142	-1,103
Effect of Foreign Exchange Rates	8	-5	-2	-13	-29	- -	-6	7	-7	-5	11	-1	- -	- -	- -
Net Changes in Cash	28	-85	29	-90	1	-16	63	18	-84	295	-68	-164	486	-594	7
EBITDA	1,047	1,075	1,211	1,201	1,097	1,711	1,672	1,679	1,644	1,738	1,838	1,632	1,612	1,880	2,157
EBITDA Margin (%)	21.7	19.46	20.53	21.41	19.27	21.91	22.61	22.83	20.98	22.29	22.97	20.4	18.9	22.98	24.72
Free Cash Flow	212	457	649	576	491	1,260	867	896	781	986	1,258	719	717	643	817
Net Cash Paid for Acquisitions	- -	764	- -	102	1,320	-186	- -	- -	1,534	- -	-564	-130	-686	3,864	-326
Free Cash Flow to Firm	256	509	711	629	544	1,380	977	- -	934	1,129	1,391	839	- -	855	- -
Free Cash Flow to Equity	607	1,209	603	786	1,660	522	837	349	1,864	886	392	457	531	3,137	167
Free Cash Flow per Basic Share	1.81	4.03	5.97	5.53	4.74	10.55	7.47	7.89	6.87	8.64	11.19	6.64	6.75	6.18	7.67
Price/Free Cash Flow	15.38	8.98	10.58	8.88	12.18	9.13	11.76	8.42	9.29	8.6	7.87	9.55	9.81	6.6	7.71
Cash Flow to Net Income	0.82	1.59	1.57	1.51	2.14	2.12	1.79	0.91	2.22	1.61	1.79	1.8	-13.08	1.65	-0.98
Capital Expenditures	-180	-274	-206	-280	-248	-201	-192	-322	-360	-269	-307	-418	-477	-586	-394