United Rentals, Inc.

URI

URIUnited Rentals, Inc. US flag

New York Stock Exchange

1,067.77

USD

-16.85

- -

66.89BMarket 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	2,611	4,117	4,955	5,685	5,817	5,762	6,641	8,047	9,351	8,530	9,716	11,642	14,332	15,345	16,099
+ Sales & Services Revenue	2,611	4,117	4,955	5,685	5,817	5,762	6,641	8,047	9,351	8,530	9,716	11,642	14,332	15,345	16,099
- Cost of Revenue	1,713	2,530	2,968	3,253	3,337	3,359	3,872	4,683	5,681	5,347	5,863	6,646	8,519	9,195	9,955
+ Cost of Goods & Services	1,713	2,530	2,968	3,253	3,337	3,359	3,872	4,683	5,681	5,347	5,863	6,646	8,519	9,195	9,955
Gross Profit	898	1,587	1,987	2,432	2,480	2,403	2,769	3,364	3,670	3,183	3,853	4,996	5,813	6,150	6,144
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	464	786	888	1,031	982	974	1,162	1,346	1,499	1,366	1,571	1,764	1,958	2,082	2,170
+ Selling, General & Admin	407	588	642	758	714	719	903	1,038	1,092	979	1,199	1,400	1,527	1,645	1,732
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	57	198	246	273	268	255	259	308	407	387	372	364	431	437	438
Operating Income (Loss)	434	801	1,099	1,401	1,498	1,429	1,607	2,018	2,171	1,817	2,282	3,232	3,855	4,068	3,974
- Non-Operating (Income) Loss	270	713	494	551	535	520	559	542	657	678	436	430	644	680	636
+ Interest Expense, Net	235	516	478	555	567	511	464	481	648	669	424	445	635	691	716
+ Interest Expense	235	516	478	555	567	511	464	481	648	669	424	445	635	691	716
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	35	197	16	-4	-32	9	95	61	9	9	12	-15	9	-11	-80
Pretax Income	164	88	605	850	963	909	1,048	1,476	1,514	1,139	1,846	2,802	3,211	3,388	3,338
- Income Tax Expense (Benefit)	63	13	218	310	378	343	-298	380	340	249	460	697	787	813	844
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	101	75	387	540	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575	2,494
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	101	75	387	540	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575	2,494
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	101	75	387	540	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575	2,494
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	101	75	387	540	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575	2,494
EBIT	434	801	1,099	1,401	1,498	1,429	1,607	2,018	2,171	1,817	2,282	3,232	3,855	4,068	3,974
EBITDA	914	1,698	2,197	2,595	2,742	2,674	2,990	3,689	4,209	3,805	4,265	5,449	6,636	6,971	7,082
EBITDA Margin (%)	35.01	41.24	44.34	45.65	47.14	46.41	45.02	45.84	45.01	44.61	43.9	46.8	46.3	45.43	43.99
EBITA	434	801	1,099	1,401	1,498	1,429	1,607	2,018	2,171	1,817	2,282	3,232	3,855	4,068	3,974
Gross Margin (%)	34.39	38.55	40.1	42.78	42.63	41.7	41.7	41.8	39.25	37.32	39.66	42.91	40.56	40.08	38.16
Operating Margin (%)	16.62	19.46	22.18	24.64	25.75	24.8	24.2	25.08	23.22	21.3	23.49	27.76	26.9	26.51	24.68
Profit Margin (%)	3.87	1.82	7.81	9.5	10.06	9.82	20.27	13.62	12.55	10.43	14.27	18.08	16.91	16.78	15.49
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.93	6.54	7.2
Depreciation Expense	480	897	1,098	1,194	1,244	1,245	1,383	1,671	2,038	1,988	1,983	2,217	2,781	2,903	3,108
Basic Weighted Avg Shares	62	83	93	97	95	87	85	83	77	73	72	71	68	66	64
Basic EPS, GAAP	1.62	0.9	4.14	5.54	6.14	6.49	15.91	13.25	15.19	12.24	19.14	29.77	35.4	38.81	38.73
Basic EPS from Cont Ops	1.62	0.9	4.14	5.54	6.14	6.49	15.91	13.25	15.19	12.24	19.14	29.77	35.4	38.81	38.73
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	65
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	38.61
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	38.61

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	723	1,343	1,362	1,298	1,294	1,361	1,772	1,761	1,842	2,017	2,151	2,723	2,933	3,249	3,608
+ Cash, Cash Equivalents & STI	36	106	175	158	179	312	352	43	52	202	144	106	363	457	459
+ Cash & Cash Equivalents	36	106	175	158	179	312	352	43	52	202	144	106	363	457	459
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	464	793	804	940	930	920	1,233	1,545	1,581	1,319	1,680	2,239	2,235	2,357	2,510
+ Accounts Receivable, Net	464	793	804	940	930	920	1,233	1,545	1,530	1,315	1,677	2,004	2,230	2,357	2,510
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	51	4	3	235	5	- -	- -
+ Inventories	44	68	70	78	69	68	75	109	120	125	164	232	205	200	240
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	44	68	70	78	69	68	75	109	120	125	164	232	205	200	240
+ Other ST Assets	179	376	313	122	116	61	112	64	89	371	163	146	130	235	399
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3,420	9,683	9,869	10,831	10,789	10,627	13,258	16,372	17,128	15,851	18,141	21,460	22,656	24,914	26,258
+ Property, Plant & Equip, Net	2,983	5,394	5,795	6,446	6,631	6,619	8,291	10,214	11,060	9,997	11,956	14,935	16,003	17,302	18,598
+ Property, Plant & Equip	4,876	7,581	8,364	9,342	9,893	10,310	12,575	15,189	16,833	16,296	18,709	22,712	24,776	26,527	28,667
- Accumulated Depreciation	1,893	2,187	2,569	2,896	3,262	3,691	4,284	4,975	5,773	6,299	6,753	7,777	8,773	9,225	10,069
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	437	4,289	4,074	4,385	4,158	4,008	4,967	6,158	6,068	5,854	6,185	6,525	6,653	7,612	7,660
+ Total Intangible Assets	372	4,170	3,971	4,378	4,148	4,002	4,957	6,142	6,049	5,816	6,143	6,478	6,610	7,563	7,596
+ Goodwill	289	2,970	2,953	3,272	3,243	3,260	4,082	5,058	5,154	5,168	5,528	6,026	5,940	6,900	7,119
+ Other Intangible Assets	83	1,200	1,018	1,106	905	742	875	1,084	895	648	615	452	670	663	477
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	65	119	103	7	10	6	10	16	19	38	42	47	43	49	64
Total Assets	4,143	11,026	11,231	12,129	12,083	11,988	15,030	18,133	18,970	17,868	20,292	24,183	25,589	28,163	29,866
+ Payables & Accruals	285	451	455	589	427	385	615	855	709	728	1,079	1,524	1,369	1,179	1,208
+ Accounts Payable	220	286	292	414	275	243	409	536	454	466	816	1,139	905	748	776
+ Accrued Taxes	18	29	29	35	22	23	25	103	26	45	42	113	139	64	58
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	47	136	134	140	130	119	181	216	229	217	221	272	325	367	374
+ ST Debt	395	630	604	618	607	597	723	903	1,175	882	1,108	372	1,714	1,472	1,894
+ ST Borrowings	395	630	604	618	607	597	723	903	997	704	906	161	1,465	1,178	1,577
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	178	178	202	211	249	294	317
+ Other ST Liabilities	184	270	227	271	199	202	330	358	314	280	416	549	554	672	717
+ Deferred Revenue	18	28	32	39	38	40	46	56	55	51	83	131	138	185	175
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	166	242	195	232	161	162	284	302	259	229	333	418	416	487	542
Total Current Liabilities	864	1,351	1,286	1,478	1,233	1,184	1,668	2,116	2,198	1,890	2,603	2,445	3,637	3,323	3,819
+ LT Debt	2,647	6,734	6,569	7,344	7,555	7,193	8,717	10,844	10,964	9,527	9,400	11,851	10,948	13,317	13,776
+ LT Borrowings	2,647	6,734	6,569	7,344	7,555	7,193	8,717	10,844	10,431	8,978	8,779	11,209	10,053	12,228	12,652
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	533	549	621	642	895	1,089	1,124
+ Other LT Liabilities	529	1,367	1,528	1,509	1,819	1,963	1,539	1,770	1,978	1,906	2,298	2,825	2,874	2,901	3,303
+ Accrued Liabilities	470	1,302	1,459	1,444	1,765	1,896	1,419	1,687	1,887	1,768	2,154	2,671	2,701	2,685	3,115
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	59	65	69	65	54	67	120	83	91	138	144	154	173	216	188
Total Noncurrent Liabilities	3,176	8,101	8,097	8,853	9,374	9,156	10,256	12,614	12,942	11,433	11,698	14,676	13,822	16,218	17,079
Total Liabilities	4,040	9,452	9,383	10,331	10,607	10,340	11,924	14,730	15,140	13,323	14,301	17,121	17,459	19,541	20,898
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	488	1,998	2,055	2,169	2,198	2,289	2,357	2,409	2,441	2,483	2,568	2,627	2,651	2,692	2,770
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	487	1,997	2,054	2,168	2,197	2,288	2,356	2,408	2,440	2,482	2,567	2,626	2,650	2,691	2,769
- Treasury Stock	- -	115	209	802	1,560	2,077	2,105	2,870	3,700	3,957	3,957	4,957	5,965	7,478	9,396
+ Retained Earnings	-499	-424	-37	503	1,088	1,654	3,005	4,101	5,275	6,165	7,551	9,656	11,672	13,813	15,843
+ Other Equity	75	84	19	-74	-250	-218	-151	-237	-186	-146	-171	-264	-228	-405	-249
Equity Before Minority Interest	103	1,574	1,848	1,798	1,476	1,648	3,106	3,403	3,830	4,545	5,991	7,062	8,130	8,622	8,968
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	103	1,574	1,848	1,798	1,476	1,648	3,106	3,403	3,830	4,545	5,991	7,062	8,130	8,622	8,968
Total Liabilities & Equity	4,143	11,026	11,231	12,129	12,083	11,988	15,030	18,133	18,970	17,868	20,292	24,183	25,589	28,163	29,866
Shares Outstanding	63	93	93	98	92	84	84	80	74	72	72	69	67	65	63
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	711	727	823	853	1,144	1,383	1,441
Net Debt	3,006	7,258	6,998	7,804	7,983	7,478	9,088	11,704	11,376	9,480	9,541	11,264	11,155	12,949	13,770
Net Debt to Equity	2,918.45	461.12	378.68	434.04	540.85	453.76	292.59	343.93	297.02	208.58	159.26	159.5	137.21	150.19	153.55
Tangible Common Equity Ratio	-7.13	-37.86	-29.24	-33.29	-33.67	-29.48	-18.38	-22.84	-17.17	-10.55	-1.07	3.3	8.01	5.14	6.16
Current Ratio	0.84	0.99	1.06	0.88	1.05	1.15	1.06	0.83	0.84	1.07	0.83	1.11	0.81	0.98	0.94
Cash Conversion Cycle	30.23	27.64	31.79	24.78	28.92	37.89	35.23	33.61	35.63	37.86	25.55	15.44	19.35	29.77	35.41

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	101	75	387	540	585	566	1,346	1,096	1,174	890	1,386	2,105	2,424	2,575	2,494
+ Depreciation & Amortization	480	897	1,098	1,194	1,244	1,245	1,383	1,671	2,038	1,988	1,983	2,217	2,781	2,903	3,108
+ Non-Cash Items	48	186	77	202	258	14	-528	132	17	-217	-31	87	-674	-666	-133
+ Stock-Based Compensation	12	32	46	74	49	45	87	102	61	70	119	127	94	112	134
+ Deferred Income Taxes	39	-16	167	261	336	123	-533	257	204	-121	268	537	35	-19	405
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-3	170	-136	-133	-127	-154	-82	-227	-248	-166	-418	-577	-803	-759	-672
+ Chg in Non-Cash Work Cap	-17	-437	-11	-135	-92	116	8	-46	-205	-3	351	24	173	-266	-279
+ (Inc) Dec in Accts Receiv	-62	-86	-20	-101	-11	15	-184	-115	39	218	-300	-329	-167	-20	-120
+ (Inc) Dec in Inventories	-3	-2	-2	11	8	1	1	-20	-8	-5	9	-25	19	15	-38
+ (Inc) Dec in Prepaid Assets	-15	-18	60	-52	-38	77	-20	75	-59	-228	248	-164	281	-27	-135
+ Inc (Dec) in Accts Payable	63	-331	-49	7	-51	23	211	14	-177	12	394	542	40	-234	14
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	612	721	1,551	1,801	1,995	1,941	2,209	2,853	3,024	2,658	3,689	4,433	4,704	4,546	5,190
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	221	430	516	577	555	510	566	687	868	900	998	989	1,634	1,588	1,469
+ Disp of Fixed Prod Assets	221	430	516	577	555	510	566	687	868	900	998	989	1,634	1,588	1,469
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-810	-1,369	-1,684	-1,821	-1,636	-1,339	-1,889	-2,291	-2,350	-1,158	-3,198	-3,690	-4,070	-4,127	-4,528
+ Acq of Fixed Prod Assets	-810	-1,369	-1,684	-1,821	-1,636	-1,339	-1,889	-2,291	-2,350	-1,158	-3,198	-3,690	-4,070	-4,127	-4,528
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-7	-131	-115	-613	-789	-528	-56	-817	-870	-286	-34	-1,068	-1,070	-1,571	-1,969
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-7	-131	-115	-613	-789	-528	-56	-817	-870	-286	-34	-1,068	-1,070	-1,571	-1,969
+ Net Change in LT Investment	- -	- -	- -	- -	-3	-2	-5	-3	-3	-3	- -	-7	-4	-5	-3
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	-3	-2	-5	-3	-3	-3	- -	-7	-4	-5	-3
+ Net Cash From Acq & Div	-276	-1,165	-9	-756	-86	-28	-2,377	-2,966	-249	-2	-1,436	-2,340	-574	-1,655	-357
+ Cash from Divestitures	- -	10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-276	-1,175	-9	-756	-86	-28	-2,377	-2,966	-249	-2	-1,436	-2,340	-574	-1,655	-357
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	12	21	22	24	40	25	32	38	51	50
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-865	-2,104	-1,177	-2,000	-1,170	-847	-3,684	-4,551	-1,710	-223	-3,611	-5,016	-2,976	-4,148	-3,369
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-406	-434	-464
+ Net Cash From Debt	79	1,643	-160	787	84	-471	1,594	2,236	-418	-1,985	-98	1,644	2	1,748	653
+ Cash From Debt	1,892	6,013	3,805	7,070	8,566	8,752	11,801	12,178	9,260	9,260	8,364	9,885	8,576	11,609	11,182
+ Repayments of Debt	-1,813	-4,370	-3,965	-6,283	-8,482	-9,223	-10,207	-9,942	-9,678	-11,245	-8,462	-8,241	-8,574	-9,861	-10,529
+ Other Financing Activities	8	-59	-20	22	-70	35	-41	-22	-17	-22	-8	-24	- -	-17	-61
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	80	1,453	-295	196	-775	-964	1,497	1,397	-1,305	-2,293	-140	552	-1,474	-274	-1,841
Effect of Foreign Exchange Rates	6	- -	-10	-14	-29	3	18	-8	- -	8	4	-7	3	-30	22
Net Changes in Cash	-173	70	79	-3	50	130	22	-301	9	142	-62	-31	254	124	-20
EBITDA	914	1,698	2,197	2,595	2,742	2,674	2,990	3,689	4,209	3,805	4,265	5,449	6,636	6,971	7,082
EBITDA Margin (%)	35.01	41.24	44.34	45.65	47.14	46.41	45.02	45.84	45.01	44.61	43.9	46.8	46.3	45.43	43.99
Free Cash Flow	-198	-648	-133	-20	359	602	320	562	674	1,500	491	743	634	419	662
Net Cash Paid for Acquisitions	276	1,165	9	756	86	28	2,377	2,966	249	2	1,436	2,340	574	1,655	357
Free Cash Flow to Firm	-53	-208	173	333	703	920	- -	919	1,176	2,023	809	1,077	1,113	944	1,197
Free Cash Flow to Equity	102	1,425	223	1,344	998	641	2,480	3,485	1,124	415	1,391	3,376	2,270	3,755	2,784
Free Cash Flow per Basic Share	-3.18	-7.81	-1.42	-0.21	3.77	6.9	3.78	6.8	8.72	20.63	6.78	10.51	9.26	6.32	10.28
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.38
Cash Flow to Net Income	6.06	9.61	4.01	3.34	3.41	3.43	1.64	2.6	2.58	2.99	2.66	2.11	1.94	1.77	2.08
Capital Expenditures	-810	-1,369	-1,684	-1,821	-1,636	-1,339	-1,889	-2,291	-2,350	-1,158	-3,198	-3,690	-4,070	-4,127	-4,528