The Southern Company

SOThe Southern Company US flag

New York Stock Exchange

90.51

USD

+1.48

- -

102.03BMarket 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	17,657	16,537	17,087	18,467	17,489	19,896	23,031	23,495	21,419	20,375	23,113	29,279	25,253	26,724	29,553
+ Sales & Services Revenue	17,657	16,537	17,087	18,467	17,489	19,896	23,031	23,495	21,419	20,375	23,113	29,279	25,253	26,724	29,553
- Cost of Revenue	10,808	9,373	9,817	11,031	9,811	11,366	13,116	13,879	11,816	10,478	12,866	18,652	13,477	13,361	15,229
+ Cost of Goods & Services	10,808	9,373	9,817	11,031	9,811	11,366	13,116	13,879	11,816	10,478	12,866	18,652	13,477	13,361	15,229
Gross Profit	6,849	7,164	7,270	7,436	7,678	8,530	9,915	9,616	9,603	9,897	10,247	10,627	11,776	13,363	14,324
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	2,618	2,701	4,015	3,794	3,396	4,043	7,622	5,506	4,268	5,077	6,547	5,257	5,950	6,295	7,039
+ Selling, General & Admin	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	2,618	2,701	4,015	3,794	3,396	4,043	7,622	5,506	4,268	5,077	6,547	5,257	5,950	6,295	7,039
Operating Income (Loss)	4,231	4,463	3,255	3,642	4,282	4,487	2,293	4,110	5,335	4,820	3,700	5,370	5,826	7,068	7,285
- Non-Operating (Income) Loss	744	714	696	634	653	1,007	1,225	1,361	-1,207	1,324	1,124	1,147	1,481	1,839	2,286
+ Interest Expense, Net	836	819	805	816	817	1,317	1,694	1,842	1,736	1,821	1,837	2,022	2,446	2,743	3,238
+ Interest Expense	857	859	824	835	840	1,317	1,694	1,842	1,736	1,821	1,837	2,022	2,446	2,743	3,238
- Interest Income	21	40	19	19	23	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-92	-105	-109	-182	-164	-310	-469	-481	-2,943	-497	-713	-875	-965	-904	-952
Pretax Income	3,487	3,749	2,559	3,008	3,629	3,480	1,068	2,749	6,542	3,496	2,576	4,223	4,345	5,229	4,999
- Income Tax Expense (Benefit)	1,219	1,334	849	977	1,194	951	142	449	1,798	393	267	795	496	969	828
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	2,268	2,415	1,710	2,031	2,435	2,529	926	2,300	4,744	3,103	2,309	3,428	3,849	4,260	4,171
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	28	72	92	116	-20	-62	-198	-214	-254	-282	-340
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	28	72	92	116	-20	-62	-198	-214	-254	-282	-340
Income (Loss) Incl. MI	2,268	2,415	1,710	2,031	2,407	2,457	834	2,184	4,764	3,165	2,507	3,642	4,103	4,542	4,511
- Minority Interest	- -	- -	- -	- -	-14	-36	-46	-58	10	31	99	107	127	141	170
Net Income, GAAP	2,268	2,415	1,710	2,031	2,421	2,493	880	2,242	4,754	3,134	2,408	3,535	3,976	4,401	4,341
- Preferred Dividends	65	65	66	68	54	45	38	16	15	15	15	11	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	2,203	2,350	1,644	1,963	2,367	2,448	842	2,226	4,739	3,119	2,393	3,524	3,976	4,401	4,341
EBIT	4,231	4,463	3,255	3,642	4,282	4,487	2,293	4,110	5,335	4,820	3,700	5,370	5,826	7,068	7,285
EBITDA	6,279	6,608	5,553	5,935	6,677	7,410	5,750	7,659	8,666	8,725	7,673	9,434	10,812	12,334	13,315
EBITDA Margin (%)	35.56	39.96	32.5	32.14	38.18	37.24	24.97	32.6	40.46	42.82	33.2	32.22	42.81	46.15	45.05
EBITA	4,231	4,463	3,255	3,642	4,282	4,487	2,293	4,110	5,335	4,820	3,700	5,370	5,826	7,068	7,285
Gross Margin (%)	38.79	43.32	42.55	40.27	43.9	42.87	43.05	40.93	44.83	48.57	44.33	36.3	46.63	50	48.47
Operating Margin (%)	23.96	26.99	19.05	19.72	24.48	22.55	9.96	17.49	24.91	23.66	16.01	18.34	23.07	26.45	24.65
Profit Margin (%)	12.84	14.6	10.01	11	13.84	12.53	3.82	9.54	22.2	15.38	10.42	12.07	15.74	16.47	14.69
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.94	2.03	2.06	2.05	2.15	2.12	2.28	2.35	2.44	2.54	2.62	2.7	2.78	2.7	2.73
Depreciation Expense	2,048	2,145	2,298	2,293	2,395	2,923	3,457	3,549	3,331	3,905	3,973	4,064	4,986	5,266	6,030
Basic Weighted Avg Shares	857	868	887	908	912	990	1,008	1,034	1,053	1,058	1,061	1,075	1,092	1,096	1,103
Basic EPS, GAAP	2.57	2.71	1.85	2.16	2.6	2.47	0.84	2.15	4.5	2.95	2.26	3.28	3.64	4.02	3.94
Basic EPS from Cont Ops	2.65	2.78	1.93	2.24	2.67	2.55	0.92	2.22	4.51	2.93	2.18	3.19	3.52	3.89	3.78
Diluted Weighted Avg Shares	857	868	887	908	912	990	1,008	1,034	1,053	1,058	1,061	1,081	1,098	1,103	1,109
Diluted EPS, GAAP	2.57	2.71	1.85	2.16	2.6	2.47	0.84	2.15	4.5	2.95	2.26	3.26	3.62	3.99	3.91
Diluted EPS from Cont Ops	2.65	2.78	1.93	2.24	2.67	2.55	0.92	2.22	4.51	2.93	2.18	3.17	3.51	3.86	3.76

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	6,272	6,162	5,614	5,864	6,526	9,722	10,072	9,583	9,817	8,617	8,965	10,416	10,432	10,694	10,917
+ Cash, Cash Equivalents & STI	1,315	628	659	710	1,404	1,975	2,130	1,396	1,975	1,065	1,798	1,917	748	1,070	1,639
+ Cash & Cash Equivalents	1,315	628	659	710	1,404	1,975	2,130	1,396	1,975	1,065	1,798	1,917	748	1,070	1,639
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	1,849	1,649	1,819	1,947	2,047	3,790	4,048	4,059	3,409	3,335	2,962	3,716	3,963	4,289	4,069
+ Accounts Receivable, Net	1,074	961	1,027	1,090	1,058	2,206	2,413	2,527	2,042	2,269	1,806	2,128	2,030	2,228	2,251
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	775	688	792	857	989	1,584	1,635	1,532	1,367	1,066	1,156	1,588	1,933	2,061	1,818
+ Inventories	2,270	2,819	2,298	1,969	1,929	2,782	2,627	2,394	2,388	2,488	2,355	2,677	3,352	3,369	3,333
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	2,270	2,819	2,298	1,969	1,929	2,782	2,627	2,394	2,388	2,488	2,355	2,677	3,352	3,369	3,333
+ Other ST Assets	838	1,066	838	1,238	1,146	1,175	1,267	1,734	2,045	1,729	1,850	2,106	2,369	1,966	1,876
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	52,995	56,987	58,932	64,369	71,792	99,975	100,933	107,331	108,883	114,318	118,569	124,475	128,899	134,486	144,803
+ Property, Plant & Equip, Net	45,921	49,276	52,091	55,814	62,029	79,490	80,896	81,864	86,059	90,390	93,462	96,703	101,941	106,743	116,441
+ Property, Plant & Equip	67,075	71,240	75,150	79,873	86,282	109,342	112,353	112,902	116,824	122,787	127,541	132,000	139,666	146,869	159,924
- Accumulated Depreciation	21,154	21,964	23,059	24,059	24,253	29,852	31,457	31,038	30,765	32,397	34,079	35,297	37,725	40,126	43,483
+ LT Investments & Receivables	1,207	1,303	1,465	1,546	1,518	3,155	3,345	3,301	3,339	3,665	3,824	3,588	3,792	4,037	4,265
+ LT Investments	1,207	1,303	1,465	1,546	1,518	3,155	3,345	3,301	3,339	3,665	3,824	3,588	3,792	4,037	4,265
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	5,867	6,408	5,376	7,009	8,245	17,330	16,692	22,166	19,485	20,263	21,283	24,184	23,166	23,706	24,097
+ Total Intangible Assets	- -	- -	- -	- -	319	7,221	7,141	5,928	5,816	5,767	5,725	5,567	5,529	5,493	5,461
+ Goodwill	- -	- -	- -	- -	2	6,251	6,268	5,315	5,280	5,280	5,280	5,161	5,161	5,161	5,161
+ Other Intangible Assets	- -	- -	- -	- -	317	970	873	613	536	487	445	406	368	332	300
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	5,867	6,408	5,376	7,009	7,926	10,109	9,551	16,238	13,669	14,496	15,558	18,617	17,637	18,213	18,636
Total Assets	59,267	63,149	64,546	70,233	78,318	109,697	111,005	116,914	118,700	122,935	127,534	134,891	139,331	145,180	155,720
+ Payables & Accruals	2,217	2,025	2,096	2,524	2,647	4,692	4,200	4,564	3,690	4,148	3,393	4,963	4,418	5,437	5,521
+ Accounts Payable	1,553	1,387	1,376	1,593	1,905	2,825	3,076	3,436	2,557	2,806	2,169	3,525	2,898	3,701	3,710
+ Accrued Taxes	438	401	469	636	493	860	636	656	659	829	691	824	868	1,054	1,004
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	226	237	251	295	249	1,007	488	472	474	513	533	614	652	682	807
+ ST Debt	2,576	3,160	1,951	4,132	4,050	4,828	6,331	6,113	5,273	4,357	3,847	7,091	4,973	6,256	7,139
+ ST Borrowings	2,552	3,137	1,922	4,101	4,018	4,796	6,300	6,113	5,044	4,116	3,597	6,894	4,790	6,056	6,942
+ ST Finance Leases	24	23	29	31	32	32	31	- -	229	241	250	197	183	200	197
+ Other ST Liabilities	1,784	1,829	1,478	2,305	2,432	3,397	3,063	3,609	3,583	3,574	3,681	3,670	4,076	4,300	4,228
+ Deferred Revenue	347	370	380	390	404	558	542	522	496	487	479	502	503	486	475
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	1,437	1,459	1,098	1,915	2,028	2,839	2,521	3,087	3,087	3,087	3,202	3,168	3,573	3,814	3,753
Total Current Liabilities	6,577	7,014	5,525	8,961	9,129	12,917	13,594	14,286	12,546	12,079	10,921	15,724	13,467	15,993	16,888
+ LT Debt	18,647	19,274	21,344	20,644	24,688	42,629	44,462	40,736	43,413	46,684	51,623	52,044	58,517	60,021	66,936
+ LT Borrowings	18,647	19,274	21,344	20,644	24,688	42,629	44,462	40,736	41,798	45,073	50,120	50,656	57,210	58,768	65,649
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	1,615	1,611	1,503	1,388	1,307	1,253	1,287
+ Other LT Liabilities	15,383	17,482	17,538	19,327	22,401	27,421	27,097	32,562	30,691	31,647	32,423	32,591	32,122	32,492	33,029
+ Accrued Liabilities	10,158	11,711	12,317	13,071	14,406	17,419	17,056	15,855	16,866	16,873	17,295	18,571	18,762	19,570	20,352
+ Pension Liabilities	2,442	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	2,783	5,771	5,221	6,256	7,995	10,002	10,041	16,707	13,825	14,774	15,128	14,020	13,360	12,922	12,677
Total Noncurrent Liabilities	34,030	36,756	38,882	39,971	47,089	70,050	71,559	73,298	74,104	78,331	84,046	84,635	90,639	92,513	99,965
Total Liabilities	40,607	43,770	44,407	48,932	56,218	82,967	85,153	87,584	86,650	90,410	94,967	100,359	104,106	108,506	116,853
+ Preferred Equity and Hybrid Capital	1,082	1,082	1,131	1,131	727	727	324	291	291	291	291	- -	- -	- -	- -
+ Share Capital & APIC	8,738	9,244	9,823	10,494	10,854	14,613	15,507	16,258	16,991	17,102	17,229	19,090	19,198	19,595	21,294
+ Common Stock	4,328	4,389	4,461	4,539	4,572	4,952	5,038	5,164	5,257	5,268	5,279	5,417	5,423	5,446	5,554
+ Additional Paid in Capital	4,410	4,855	5,362	5,955	6,282	9,661	10,469	11,094	11,734	11,834	11,950	13,673	13,775	14,149	15,740
- Treasury Stock	17	450	250	26	142	31	36	38	42	46	47	53	59	59	59
+ Retained Earnings	8,968	9,626	9,510	9,609	10,010	10,356	8,885	8,706	10,877	11,311	10,929	11,538	12,482	13,750	14,856
+ Other Equity	-111	-123	-75	-128	-130	-180	-189	-203	-321	-395	-237	-167	-177	-78	-75
Equity Before Minority Interest	17,953	18,672	20,139	21,080	21,319	25,485	24,491	25,014	27,796	28,263	28,165	30,408	31,444	33,208	36,016
+ Minority/Non Controlling Interest	707	707	- -	221	781	1,245	1,361	4,316	4,254	4,262	4,402	4,124	3,781	3,466	2,851
Total Equity	18,660	19,379	20,139	21,301	22,100	26,730	25,852	29,330	32,050	32,525	32,567	34,532	35,225	36,674	38,867
Total Liabilities & Equity	59,267	63,149	64,546	70,233	78,318	109,697	111,005	116,914	118,700	122,935	127,534	134,891	139,331	145,180	155,720
Shares Outstanding	865	868	887	908	912	990	1,008	1,034	1,053	1,056	1,060	1,099	1,091	1,099	1,119
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	24	23	29	31	32	32	31	- -	1,844	1,852	1,753	1,585	1,490	1,453	1,484
Net Debt	19,884	21,783	22,607	24,035	27,302	45,450	48,632	45,453	44,867	48,124	51,919	55,633	61,252	63,754	70,952
Net Debt to Equity	106.56	112.41	112.25	112.84	123.54	170.03	188.12	154.97	139.99	147.96	159.42	161.11	173.89	173.84	182.55
Tangible Common Equity Ratio	29.66	28.97	29.45	28.72	26.99	18.33	17.7	20.82	22.98	22.59	21.8	22.4	22.19	22.32	22.23
Current Ratio	0.95	0.88	1.02	0.65	0.71	0.75	0.74	0.67	0.78	0.71	0.82	0.66	0.77	0.67	0.65
Cash Conversion Cycle	50.1	67.47	62.12	40.89	29.59	34.94	28.77	17.3	20.18	31.01	29.57	18.99	28.86	30.86	18.95

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	2,268	2,415	1,710	2,031	2,435	2,529	926	2,300	4,744	3,103	2,309	3,428	3,849	4,260	4,171
+ Depreciation & Amortization	2,048	2,145	2,298	2,293	2,395	2,923	3,457	3,549	3,331	3,905	3,973	4,064	4,986	5,266	6,030
+ Non-Cash Items	1,014	789	1,937	876	1,630	-1,536	2,964	820	-2,458	77	671	-1,350	-1,147	-1,159	-798
+ Stock-Based Compensation	42	55	59	63	99	121	109	125	107	113	144	127	137	132	136
+ Deferred Income Taxes	1,240	1,224	798	709	1,404	-127	166	94	1,368	100	239	758	416	626	618
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	210	168	206	91	251	- -	- -	- -
+ Other Non-Cash Adj	-268	-490	1,080	104	127	-1,530	2,689	391	-4,101	-342	197	-2,486	-1,700	-1,917	-1,552
+ Chg in Non-Cash Work Cap	573	-451	152	615	-186	978	-953	276	164	-389	-784	160	-135	1,421	399
+ (Inc) Dec in Accts Receiv	362	234	-153	-352	-170	-544	-202	-426	630	-222	-77	-771	482	-372	-124
+ (Inc) Dec in Inventories	-122	-549	517	341	61	-48	72	-53	-17	-157	-297	-127	-713	-49	44
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	325	-160	-13	162	-1	1,757	-430	558	-576	215	-8	1,072	-798	728	-201
+ Inc (Dec) in Other	8	24	-199	464	-76	-187	-393	197	127	-225	-402	-14	894	1,114	680
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	5,903	4,898	6,097	5,815	6,274	4,894	6,394	6,945	5,781	6,696	6,169	6,302	7,553	9,788	9,802
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4,525	-4,809	-5,463	-5,246	-5,674	-7,310	-7,423	-8,001	-7,555	-7,441	-7,586	-7,923	-9,095	-8,955	-12,737
+ Acq of Fixed Prod Assets	-4,525	-4,809	-5,463	-5,246	-5,674	-7,310	-7,423	-8,001	-7,555	-7,441	-7,586	-7,923	-9,095	-8,955	-12,737
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	723	-33	675	801	141	3,758	793	1,090	844	74	73	1,808	36	143	1,623
+ Increase in Capital Stock	723	397	695	806	256	3,758	793	1,090	844	74	73	1,808	36	143	1,623
+ Decrease in Capital Stock	- -	-430	-20	-5	-115	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-5	-3	-2	-2	-6	-6	-6	-6	-6	-6	-5	-13	-21	-16	-17
+ Dec in LT Investment	2,190	1,043	984	914	1,418	1,154	805	1,111	882	871	1,593	1,112	1,121	1,535	1,685
+ Inc in LT Investment	-2,195	-1,046	-986	-916	-1,424	-1,160	-811	-1,117	-888	-877	-1,598	-1,125	-1,142	-1,551	-1,702
+ Net Cash From Acq & Div	- -	- -	- -	-731	-1,719	-12,109	-1,109	2,777	5,072	968	572	275	164	369	-634
+ Cash from Divestitures	- -	- -	- -	- -	- -	15	97	2,956	5,122	1,049	917	275	164	369	1
+ Cash for Acq of Subs	- -	- -	- -	-731	-1,719	-12,124	-1,206	-179	-50	-81	-345	- -	- -	- -	-635
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	322	-356	-277	-429	119	-622	1,348	-530	-903	-551	-334	-769	-716	-798	-571
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-4,183	-5,168	-5,742	-6,408	-7,280	-20,047	-7,190	-5,760	-3,392	-7,030	-7,353	-8,430	-9,668	-9,400	-13,959
+ Dividends Paid	-1,666	-1,758	-1,828	-1,866	-1,959	-2,104	-2,300	-2,425	-2,570	-2,685	-2,777	-2,907	-3,035	-2,954	-3,015
+ Net Cash From Debt	111	1,205	770	1,677	3,998	13,973	3,127	-2,579	13	2,268	4,765	4,137	4,371	2,969	6,792
+ Cash From Debt	3,719	4,404	3,600	3,169	7,857	17,596	7,117	5,628	6,210	8,662	9,117	7,782	10,295	6,859	12,670
+ Repayments of Debt	-3,608	-3,199	-2,830	-1,492	-3,859	-3,623	-3,990	-8,207	-6,197	-6,394	-4,352	-3,645	-5,924	-3,890	-5,878
+ Other Financing Activities	-20	169	59	32	-480	98	-669	2,101	-217	-233	-116	-702	-373	-366	-704
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-852	-417	-324	644	1,700	15,725	951	-1,813	-1,930	-576	1,945	2,336	999	-208	4,696
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	868	-687	31	51	694	572	155	-628	459	-910	761	208	-1,116	180	539
EBITDA	6,279	6,608	5,553	5,935	6,677	7,410	5,750	7,659	8,666	8,725	7,673	9,434	10,812	12,334	13,315
EBITDA Margin (%)	35.56	39.96	32.5	32.14	38.18	37.24	24.97	32.6	40.46	42.82	33.2	32.22	42.81	46.15	45.05
Free Cash Flow	1,378	89	634	569	600	-2,416	-1,029	-1,056	-1,774	-745	-1,417	-1,621	-1,542	833	-2,935
Net Cash Paid for Acquisitions	- -	- -	- -	731	1,719	12,109	1,109	-2,777	-5,072	-968	-572	-275	-164	-369	634
Free Cash Flow to Firm	1,935	642	1,185	1,133	1,164	-1,459	440	485	-515	871	230	20	625	3,068	-233
Free Cash Flow to Equity	1,824	1,229	1,387	2,178	4,140	11,512	1,657	-3,684	-1,776	1,508	3,333	2,214	2,829	3,802	3,857
Free Cash Flow per Basic Share	1.61	0.1	0.71	0.63	0.66	-2.44	-1.02	-1.02	-1.68	-0.7	-1.34	-1.51	-1.41	0.76	-2.66
Price/Free Cash Flow	3.8	3.83	3.16	4.03	3.57	3.99	3.51	3.04	5.03	4.6	5.29	5.43	4.62	4.84	4.29
Cash Flow to Net Income	2.6	2.03	3.57	2.86	2.59	1.96	7.27	3.1	1.22	2.14	2.56	1.78	1.9	2.22	2.26
Capital Expenditures	-4,525	-4,809	-5,463	-5,246	-5,674	-7,310	-7,423	-8,001	-7,555	-7,441	-7,586	-7,923	-9,095	-8,955	-12,737