TransDigm Group Incorporated

TDG

TDGTransDigm Group Incorporated US flag

New York Stock Exchange

1,212.36

USD

-44.88

- -

67.81BMarket 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	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Sales/Revenue/Turnover	1,206	1,700	1,924	2,373	2,707	3,171	3,504	3,811	5,223	5,103	4,798	5,429	6,585	7,940	8,831
+ Sales & Services Revenue	1,206	1,700	1,924	2,373	2,707	3,171	3,504	3,811	5,223	5,103	4,798	5,429	6,585	7,940	8,831
- Cost of Revenue	545	754	875	1,105	1,257	1,443	1,520	1,634	2,414	2,456	2,285	2,330	2,743	3,268	3,520
+ Cost of Goods & Services	545	754	875	1,105	1,257	1,443	1,520	1,634	2,414	2,456	2,285	2,330	2,743	3,268	3,520
Gross Profit	661	946	1,050	1,268	1,450	1,728	1,985	2,177	2,809	2,647	2,513	3,099	3,842	4,672	5,311
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	171	247	292	335	357	434	502	522	883	896	822	884	919	1,095	1,122
+ Selling, General & Admin	130	202	246	272	303	357	413	450	748	727	685	748	780	934	921
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	40	44	46	64	54	77	89	72	135	169	137	136	139	161	201
Operating Income (Loss)	490	699	758	932	1,093	1,294	1,483	1,655	1,926	1,751	1,691	2,215	2,923	3,577	4,189
- Non-Operating (Income) Loss	261	211	309	484	456	526	645	669	863	1,011	976	1,088	1,207	1,362	1,560
+ Interest Expense, Net	185	212	271	348	419	484	603	663	859	1,029	1,059	1,076	1,164	1,286	1,572
+ Interest Expense	185	212	271	348	419	484	603	663	859	1,029	1,059	1,076	1,164	1,286	1,572
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	76	-1	38	136	37	42	43	6	4	-18	-83	12	43	76	-12
Pretax Income	229	488	448	449	637	768	837	986	1,063	740	715	1,127	1,716	2,215	2,629
- Income Tax Expense (Benefit)	77	163	146	142	190	182	209	24	222	87	34	261	417	500	555
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	152	325	303	307	447	586	629	962	841	653	681	866	1,299	1,715	2,074
- Net Extraordinary Losses (Gains)	-20	- -	- -	- -	- -	- -	32	5	-47	-45	2	1	2	2	- -
+ Discontinued Operations	20	- -	- -	- -	- -	- -	-32	-5	51	47	- -	1	- -	- -	- -
+ Extraord. & Accounting Changes	-40	- -	- -	- -	- -	- -	63	10	-98	-92	2	- -	2	2	- -
Income (Loss) Incl. MI	172	325	303	307	447	586	597	957	888	698	679	865	1,297	1,713	2,074
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	-2	-1	-1	-1	-1	-1	- -
Net Income, GAAP	172	325	303	307	447	586	597	957	890	699	680	866	1,298	1,714	2,074
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	172	325	303	307	447	586	597	957	890	699	680	866	1,298	1,714	2,074
EBIT	490	699	758	932	1,093	1,294	1,483	1,655	1,926	1,751	1,691	2,215	2,923	3,577	4,189
EBITDA	551	767	831	1,029	1,186	1,415	1,624	1,784	2,152	2,034	1,944	2,468	3,191	3,889	4,556
EBITDA Margin (%)	45.68	45.13	43.18	43.36	43.82	44.63	46.34	46.81	41.2	39.86	40.52	45.46	48.46	48.98	51.59
EBITA	490	699	758	932	1,093	1,294	1,483	1,655	1,926	1,751	1,691	2,215	2,923	3,577	4,189
Gross Margin (%)	54.82	55.62	54.54	53.43	53.56	54.49	56.63	57.12	53.78	51.87	52.38	57.08	58.34	58.84	60.14
Operating Margin (%)	40.67	41.12	39.36	39.3	40.36	40.79	42.32	43.43	36.88	34.31	35.24	40.8	44.39	45.05	47.44
Profit Margin (%)	14.27	19.11	15.73	12.93	16.52	18.49	17.03	25.11	17.04	13.7	14.17	15.95	19.71	21.59	23.49
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.05	0.06	36.15	25.47	0.06	0.05	46.49	1.01	30.43	33.65	1.25	18.75	0.66	35.26	165.45
Depreciation Expense	60	68	74	96	94	122	141	129	226	283	253	253	268	312	367
Basic Weighted Avg Shares	53	54	55	57	57	56	56	56	56	57	58	58	57	58	58
Basic EPS, GAAP	3.23	6.03	5.5	5.39	7.9	10.44	10.75	17.21	15.82	12.2	11.64	14.88	22.69	29.65	35.64
Basic EPS from Cont Ops	2.85	6.03	5.5	5.39	7.9	10.44	11.32	17.3	14.95	11.4	11.66	14.88	22.71	29.67	35.64
Diluted Weighted Avg Shares	53	54	55	57	57	56	56	56	56	57	58	58	57	58	58
Diluted EPS, GAAP	3.23	6.03	5.5	5.39	7.9	10.44	10.75	17.21	15.81	12.2	11.64	14.88	22.69	29.65	35.64
Diluted EPS from Cont Ops	2.85	6.03	5.5	5.39	7.9	10.44	11.32	17.3	14.94	11.4	11.66	14.88	22.71	29.67	35.64

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	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Total Current Assets	870	1,051	1,320	1,690	1,787	2,931	2,134	3,657	4,865	6,960	7,030	5,649	6,738	10,029	7,012
+ Cash, Cash Equivalents & STI	376	441	565	820	714	1,587	651	2,073	1,467	4,717	4,787	3,001	3,472	6,261	2,808
+ Cash & Cash Equivalents	376	441	565	820	714	1,587	651	2,073	1,467	4,717	4,787	3,001	3,472	6,261	2,808
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	189	236	290	351	444	576	636	704	1,068	720	791	967	1,230	1,381	1,617
+ Accounts Receivable, Net	189	236	290	351	444	576	636	704	1,068	720	791	967	1,230	1,381	1,617
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	265	321	414	459	591	724	731	805	1,233	1,283	1,185	1,332	1,616	1,876	2,095
+ Raw Materials	160	204	275	298	371	464	497	540	805	881	850	959	1,144	1,314	1,522
+ Work In Process	86	103	125	147	165	188	187	237	360	358	322	359	455	508	555
+ Finished Goods	43	48	58	70	123	153	132	127	192	222	207	210	226	290	288
+ Inventory Adjustments	-24	-34	-44	-56	-67	-82	-85	-99	-124	-178	-194	-196	-209	-236	-270
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	39	54	52	60	37	43	116	75	1,097	240	267	349	420	511	492
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3,643	4,409	4,828	5,067	6,517	7,796	7,842	8,540	11,390	11,435	12,285	12,458	13,232	15,557	15,897
+ Property, Plant & Equip, Net	151	173	209	212	261	311	325	388	757	752	770	807	1,255	1,488	1,579
+ Property, Plant & Equip	245	296	362	396	480	566	617	728	1,184	1,292	1,405	1,587	2,125	2,505	2,770
- Accumulated Depreciation	94	123	153	183	219	255	292	340	427	540	635	780	870	1,017	1,191
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	3,493	4,236	4,619	4,855	6,257	7,485	7,517	8,152	10,633	10,683	11,515	11,651	11,977	14,069	14,318
+ Total Intangible Assets	3,424	4,159	4,533	4,742	6,226	7,444	7,463	8,012	10,564	10,499	11,359	11,391	11,735	13,865	14,066
+ Goodwill	2,596	3,036	3,344	3,525	4,686	5,679	5,745	6,223	7,820	7,889	8,568	8,641	8,988	10,419	10,612
+ Other Intangible Assets	828	1,124	1,189	1,217	1,540	1,764	1,718	1,788	2,744	2,610	2,791	2,750	2,747	3,446	3,454
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	68	77	86	113	31	41	54	140	69	184	156	260	242	204	252
Total Assets	4,514	5,460	6,149	6,757	8,304	10,726	9,976	12,197	16,255	18,395	19,315	18,107	19,970	25,586	22,909
+ Payables & Accruals	117	122	182	200	229	317	310	325	511	500	493	525	615	5,048	712
+ Accounts Payable	62	74	107	116	143	156	149	174	276	218	227	279	305	323	368
+ Accrued Taxes	9	- -	- -	- -	- -	- -	- -	9	44	19	- -	11	138	108	40
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	46	48	75	84	86	161	162	142	191	263	266	235	172	4,617	304
+ ST Debt	16	20	31	239	243	252	369	375	430	647	646	444	436	603	863
+ ST Borrowings	16	20	31	239	243	252	369	375	430	625	626	426	420	584	848
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	22	20	18	16	19	15
+ Other ST Liabilities	75	92	110	147	186	183	191	200	597	469	524	457	528	688	607
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	18	25	45	79	168	143
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	75	92	110	147	186	183	191	200	597	451	499	412	449	520	464
Total Current Liabilities	207	234	322	586	658	753	871	900	1,538	1,616	1,663	1,426	1,579	6,339	2,182
+ LT Debt	3,123	3,599	5,700	7,234	8,106	9,943	11,394	12,502	16,469	19,384	19,372	19,369	19,330	24,296	29,167
+ LT Borrowings	3,123	3,599	5,700	7,234	8,106	9,943	11,394	12,502	16,469	19,384	19,372	19,369	19,330	24,296	29,167
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	373	408	463	493	578	682	662	604	1,132	1,363	1,190	1,078	1,039	1,234	1,239
+ Accrued Liabilities	310	357	384	402	405	492	501	399	441	430	485	596	627	766	759
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	63	51	78	91	173	190	161	204	691	933	705	482	412	468	480
Total Noncurrent Liabilities	3,496	4,007	6,163	7,727	8,685	10,625	12,056	13,106	17,601	20,747	20,562	20,447	20,369	25,530	30,406
Total Liabilities	3,703	4,241	6,485	8,313	9,342	11,378	12,927	14,006	19,139	22,363	22,225	21,873	21,948	31,869	32,588
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	465	554	690	795	951	1,030	1,096	1,209	1,380	1,582	1,831	2,114	2,441	2,820	3,136
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	465	553	690	795	950	1,029	1,095	1,209	1,379	1,581	1,830	2,113	2,440	2,819	3,135
- Treasury Stock	15	16	16	176	176	384	775	775	775	794	794	1,706	1,706	1,706	2,206
+ Retained Earnings	364	689	-1,004	-2,150	-1,717	-1,147	-3,187	-2,247	-3,120	-4,359	-3,705	-3,914	-2,621	-7,362	-10,606
+ Other Equity	-3	-8	-7	-25	-96	-150	-85	4	-379	-401	-248	-267	-98	-42	-10
Equity Before Minority Interest	811	1,219	-336	-1,556	-1,038	-651	-2,951	-1,808	-2,894	-3,972	-2,916	-3,773	-1,984	-6,290	-9,686
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	10	4	6	7	6	7	7
Total Equity	811	1,219	-336	-1,556	-1,038	-651	-2,951	-1,808	-2,884	-3,968	-2,910	-3,766	-1,978	-6,283	-9,679
Total Liabilities & Equity	4,514	5,460	6,149	6,757	8,304	10,726	9,976	12,197	16,255	18,395	19,315	18,107	19,970	25,586	22,909
Shares Outstanding	50	52	53	52	54	53	52	53	53	54	55	54	55	56	56
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	22	20	18	16	19	15
Net Debt	2,762	3,179	5,166	6,654	7,636	8,609	11,112	10,804	15,432	15,292	15,211	16,794	16,278	18,619	27,207
Net Debt to Equity	340.61	260.79	-1,535.91	-427.58	-735.39	-1,321.37	-376.53	-597.43	-535.09	-385.38	-522.71	-445.94	-822.95	-296.34	-281.09
Tangible Common Equity Ratio	-239.84	-226.09	-301.44	-312.63	-349.61	-246.62	-414.51	-234.61	-236.3	-183.22	-179.35	-225.68	-166.52	-171.9	-268.52
Current Ratio	4.21	4.49	4.09	2.88	2.72	3.89	2.45	4.06	3.16	4.31	4.23	3.96	4.27	1.58	3.21
Cash Conversion Cycle	169.84	156.61	168.93	158.19	172.14	190.43	201.39	201.31	187.15	214.93	217.46	218.96	221.82	222.54	234.11

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	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

+ Net Income	172	325	303	307	447	586	597	957	892	700	681	867	1,299	1,715	2,074
+ Depreciation & Amortization	60	68	74	96	94	122	141	129	226	283	253	253	268	312	367
+ Non-Cash Items	60	9	22	110	4	86	154	-63	107	117	103	119	239	320	155
+ Stock-Based Compensation	13	22	49	26	32	48	46	58	93	93	129	184	157	217	157
+ Deferred Income Taxes	9	25	-3	-9	1	6	-1	-151	- -	24	34	-22	3	10	-10
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	39	-38	-24	93	-28	32	110	30	14	- -	-60	-43	79	93	8
+ Chg in Non-Cash Work Cap	-33	12	72	28	-24	-111	-103	-1	-210	113	-124	-291	-431	-302	-558
+ (Inc) Dec in Accts Receiv	-15	-2	-25	-24	-25	-80	-55	-44	-85	352	-78	-190	-212	-84	-212
+ (Inc) Dec in Inventories	-10	- -	-15	-8	-26	-2	5	-18	-36	-62	79	-134	-261	-104	-156
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	17	-9	45	10	-26	-12	-62	30	-62	-17	-29	31	-82	8	-41
+ Inc (Dec) in Other	-25	24	67	51	53	-17	8	31	-27	-160	-96	2	124	-122	-149
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	260	414	470	541	521	683	789	1,022	1,015	1,213	913	948	1,375	2,045	2,038
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	16	- -	- -	- -	- -	- -	- -	24	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	16	- -	- -	- -	- -	- -	- -	24	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	-18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	-1	- -	-160	- -	-208	-390	- -	- -	-19	- -	-912	- -	- -	-500
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	-1	- -	-160	- -	-208	-390	- -	- -	-19	- -	-912	- -	- -	-500
+ Net Change in LT Investment	- -	- -	16	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	16	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-1,650	-851	-483	-312	-1,624	-1,399	-216	-668	-3,787	904	-704	-434	-761	-2,347	-419
+ Cash from Divestitures	- -	18	- -	- -	- -	- -	- -	- -	189	904	259	3	1	- -	- -
+ Cash for Acq of Subs	-1,650	-869	-483	-312	-1,624	-1,399	-216	-668	-3,976	- -	-963	-437	-762	-2,347	-419
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	271	-25	-36	-34	-55	-44	-71	-16	-102	-105	-105	-119	-139	-94	-176
+ Net Cash From Disc Ops	271	- -	- -	- -	- -	- -	- -	57	189	904	- -	- -	- -	- -	- -
Cash from Investing Activities	-1,397	-876	-502	-330	-1,679	-1,443	-287	-684	-3,889	799	-785	-553	-900	-2,441	-595
+ Dividends Paid	-3	-3	-1,991	-1,451	-3	-3	-2,582	-56	-1,712	-1,928	-73	-1,091	-38	-2,038	-9,629
+ Net Cash From Debt	1,237	465	2,060	1,577	936	1,817	1,524	1,095	3,902	3,072	-325	-475	-173	4,972	5,073
+ Cash From Debt	3,082	484	4,248	3,331	1,961	2,651	3,338	13,269	4,529	4,314	2,132	- -	9,742	14,325	11,345
+ Repayments of Debt	-1,845	-19	-2,188	-1,754	-1,025	-834	-1,814	-12,174	-627	-1,242	-2,457	-475	-9,915	-9,353	-6,272
+ Other Financing Activities	44	66	88	78	122	27	4	47	81	105	328	330	195	237	156
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	1,279	527	156	44	1,055	1,632	-1,444	1,086	2,271	1,230	-70	-2,148	-16	3,171	-4,900
Effect of Foreign Exchange Rates	- -	- -	- -	-1	-2	- -	6	-2	-3	8	12	-33	12	14	4
Net Changes in Cash	142	65	124	256	-103	873	-942	1,424	-603	3,242	58	-1,753	459	2,775	-3,457
EBITDA	551	767	831	1,029	1,186	1,415	1,624	1,784	2,152	2,034	1,944	2,468	3,191	3,889	4,556
EBITDA Margin (%)	45.68	45.13	43.18	43.36	43.82	44.63	46.34	46.81	41.2	39.86	40.52	45.46	48.46	48.98	51.59
Free Cash Flow	242	414	470	541	521	683	789	1,022	1,015	1,213	913	948	1,375	2,045	2,038
Net Cash Paid for Acquisitions	1,650	851	483	312	1,624	1,399	216	668	3,787	-904	704	434	761	2,347	419
Free Cash Flow to Firm	365	555	653	779	815	1,053	1,241	1,669	1,695	2,121	1,922	1,775	2,256	3,041	3,278
Free Cash Flow to Equity	1,479	879	2,530	2,134	1,457	2,500	2,313	2,117	4,917	4,285	612	473	1,202	7,017	7,111
Free Cash Flow per Basic Share	4.54	7.68	8.54	9.5	9.2	12.17	14.2	18.38	18.04	21.17	15.63	16.29	24.04	35.38	35.02
Price/Free Cash Flow	15.64	18.47	16.25	19.41	23.08	23.76	18	20.25	28.88	22.44	39.95	32.22	35.07	40.34	37.64
Cash Flow to Net Income	1.51	1.27	1.55	1.76	1.16	1.17	1.32	1.07	1.14	1.74	1.34	1.09	1.06	1.19	0.98
Capital Expenditures	-18	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -