VeriSign, Inc.

VRSN

VRSNVeriSign, Inc. US flag

NASDAQ Global Select

288.09

USD

+4.20

- -

26.22BMarket Cap

Income Statement (USD)

API Chat

	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	772	874	965	1,010	1,059	1,142	1,165	1,215	1,232	1,265	1,328	1,425	1,493	1,557	1,657
+ Sales & Services Revenue	772	874	965	1,010	1,059	1,142	1,165	1,215	1,232	1,265	1,328	1,425	1,493	1,557	1,657
- Cost of Revenue	165	168	187	188	193	198	193	192	180	180	192	201	197	191	196
+ Cost of Goods & Services	165	168	187	188	193	198	193	192	180	180	192	201	197	191	196
Gross Profit	607	706	778	822	867	944	972	1,023	1,051	1,085	1,136	1,224	1,296	1,366	1,460
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	262	249	250	257	261	257	264	255	245	261	269	281	295	308	339
+ Selling, General & Admin	209	187	180	189	197	198	212	198	184	186	188	195	204	211	236
+ Research & Development	53	62	70	68	64	59	52	58	61	75	80	86	91	97	104
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	345	457	528	564	606	687	708	767	806	824	867	943	1,001	1,058	1,121
- Non-Operating (Income) Loss	151	45	71	81	118	105	109	38	47	74	85	63	24	36	52
+ Interest Expense, Net	142	47	73	85	103	106	115	85	64	82	83	60	29	38	50
+ Interest Expense	147	50	75	86	106	113	133	111	91	90	83	75	75	75	77
- Interest Income	5	3	2	1	2	6	18	26	27	8	1	15	46	37	26
+ Other Non-Op (Income) Loss	9	-3	-1	-4	15	-1	-6	-47	-17	-8	2	2	-5	-2	2
Pretax Income	194	413	457	483	488	581	599	730	759	750	782	880	976	1,022	1,068
- Income Tax Expense (Benefit)	55	100	-88	128	112	141	142	147	146	-65	-3	206	159	236	243
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	139	312	544	355	375	441	457	582	612	815	785	674	818	786	826
- Net Extraordinary Losses (Gains)	-4	-8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	4	8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-9	-15	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	143	320	544	355	375	441	457	582	612	815	785	674	818	786	826
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	143	320	544	355	375	441	457	582	612	815	785	674	818	786	826
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	143	320	544	355	375	441	457	582	612	815	785	674	818	786	826
EBIT	345	457	528	564	606	687	708	767	806	824	867	943	1,001	1,058	1,121
EBITDA	401	512	589	628	667	745	758	816	852	871	915	990	1,045	1,095	1,152
EBITDA Margin (%)	51.89	58.63	61.02	62.18	63	65.2	65.02	67.14	69.21	68.82	68.9	69.48	69.97	70.32	69.55
EBITA	345	457	528	564	606	687	708	767	806	824	867	943	1,001	1,058	1,121
Gross Margin (%)	78.59	80.81	80.62	81.35	81.8	82.64	83.41	84.19	85.35	85.76	85.55	85.91	86.79	87.71	88.15
Operating Margin (%)	44.68	52.35	54.73	55.88	57.2	60.11	60.74	63.16	65.45	65.15	65.29	66.19	67.01	67.95	67.67
Profit Margin (%)	18.51	36.63	56.41	35.17	35.42	38.58	39.25	47.94	49.71	64.42	59.11	47.29	54.76	50.45	49.84
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	2.8	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.3
Depreciation Expense	56	55	61	64	61	58	50	48	46	46	48	47	44	37	31
Basic Weighted Avg Shares	165	157	145	127	114	107	100	113	119	115	112	108	103	98	94
Basic EPS, GAAP	0.86	2.04	3.77	2.8	3.29	4.12	4.56	5.13	5.17	7.08	7.01	6.24	7.91	8.01	8.83
Basic EPS from Cont Ops	0.84	1.99	3.77	2.8	3.29	4.12	4.56	5.13	5.17	7.08	7.01	6.24	7.91	8.01	8.83
Diluted Weighted Avg Shares	167	164	156	141	133	129	124	123	119	115	112	108	104	98	94
Diluted EPS, GAAP	0.86	1.95	3.49	2.52	2.82	3.42	3.68	4.75	5.15	7.07	7	6.24	7.9	8	8.8
Diluted EPS from Cont Ops	0.83	1.91	3.49	2.52	2.82	3.42	3.68	4.75	5.15	7.07	7	6.24	7.9	8	8.8

Balance Sheet (USD)

API Chat

	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	1,448	1,643	1,803	1,480	1,968	1,842	2,446	1,317	1,279	1,218	1,269	1,039	988	664	652
+ Cash, Cash Equivalents & STI	1,346	1,556	1,723	1,425	1,915	1,798	2,415	1,270	1,218	1,167	1,206	980	926	600	580
+ Cash & Cash Equivalents	1,313	131	339	192	229	232	466	357	508	401	224	374	240	207	308
+ ST Investments	33	1,426	1,384	1,233	1,687	1,566	1,949	912	710	766	982	607	686	393	273
+ Accounts & Notes Receiv	24	27	54	37	36	28	11	10	17	8	13	8	14	8	15
+ Accounts Receivable, Net	15	11	14	13	13	13	5	6	2	5	5	6	6	6	8
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	9	15	40	23	23	15	6	4	16	4	8	2	7	2	7
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	77	60	26	18	17	16	20	37	43	43	50	50	48	56	57
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	408	419	858	421	390	492	495	597	575	549	715	695	761	743	673
+ Property, Plant & Equip, Net	327	334	340	319	296	266	264	254	259	257	260	239	241	234	224
+ Property, Plant & Equip	594	603	656	694	721	731	752	751	776	723	709	714	744	760	766
- Accumulated Depreciation	267	269	316	375	426	465	489	497	517	466	450	475	504	526	542
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	81	85	518	102	94	226	232	344	316	292	456	456	520	509	450
+ Total Intangible Assets	54	53	53	53	55	198	198	198	198	198	198	198	198	198	198
+ Goodwill	53	53	53	53	53	53	53	53	53	53	52	52	52	52	52
+ Other Intangible Assets	1	- -	- -	- -	2	145	145	145	145	145	145	145	145	145	145
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	27	32	465	50	40	29	34	146	118	95	258	258	323	311	252
Total Assets	1,856	2,062	2,661	1,901	2,358	2,335	2,941	1,915	1,854	1,767	1,984	1,733	1,749	1,406	1,326
+ Payables & Accruals	98	72	78	111	88	90	105	103	107	100	91	90	103	121	122
+ Accounts Payable	19	24	25	29	23	19	11	27	16	12	9	10	12	11	14
+ Accrued Taxes	28	22	20	47	17	23	13	19	30	27	27	37	50	66	64
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	50	27	34	34	48	48	81	57	61	61	55	43	41	45	45
+ ST Debt	- -	- -	624	621	634	630	628	- -	- -	- -	- -	6	5	305	6
+ ST Borrowings	- -	- -	624	621	634	630	628	- -	- -	- -	- -	- -	- -	300	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6	5	5	6
+ Other ST Liabilities	561	623	1,327	701	781	802	828	844	858	888	983	1,022	1,080	1,105	1,205
+ Deferred Revenue	521	584	616	651	729	740	777	789	808	834	925	962	1,008	1,038	1,128
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	661	478	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	40	39	50	-428	52	61	51	55	50	55	58	59	72	67	77
Total Current Liabilities	659	695	2,029	1,432	1,503	1,522	1,561	948	965	989	1,074	1,117	1,188	1,531	1,333
+ LT Debt	690	698	750	740	1,235	1,237	1,783	1,785	1,792	1,795	1,788	1,790	1,792	1,496	1,792
+ LT Borrowings	690	698	750	740	1,235	1,237	1,783	1,785	1,788	1,790	1,786	1,788	1,790	1,492	1,788
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	5	5	2	2	2	4	4
+ Other LT Liabilities	595	679	305	612	690	776	858	567	587	373	382	389	349	337	355
+ Accrued Liabilities	552	635	261	514	575	659	730	286	279	283	306	329	315	331	349
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	44	44	45	99	115	117	128	282	308	90	76	60	34	6	5
Total Noncurrent Liabilities	1,285	1,377	1,055	1,352	1,925	2,013	2,641	2,352	2,379	2,168	2,170	2,179	2,142	1,833	2,147
Total Liabilities	1,944	2,072	3,084	2,785	3,428	3,535	4,201	3,300	3,344	3,157	3,244	3,296	3,330	3,364	3,480
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	20,136	19,892	18,936	18,120	17,559	16,988	16,437	15,707	29,980	14,275	13,620	12,644	11,808	10,645	9,624
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	14,990	14,275	13,620	12,644	11,808	10,645	9,624
+ Additional Paid in Capital	20,135	19,891	18,935	18,120	17,559	16,987	16,437	15,707	14,990	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-20,221	-19,901	-19,356	-19,001	-18,626	-18,185	-17,695	-17,090	-16,477	-15,663	-14,878	-14,204	-13,386	-12,601	-11,775
+ Other Equity	-3	- -	-3	-3	-4	-3	-3	-3	-3	-3	-3	-3	-3	-2	-3
Equity Before Minority Interest	-88	-9	-424	-883	-1,070	-1,201	-1,260	-1,385	-1,490	-1,390	-1,260	-1,562	-1,581	-1,958	-2,154
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-88	-9	-424	-883	-1,070	-1,201	-1,260	-1,385	-1,490	-1,390	-1,260	-1,562	-1,581	-1,958	-2,154
Total Liabilities & Equity	1,856	2,062	2,661	1,901	2,358	2,335	2,941	1,915	1,854	1,767	1,984	1,733	1,749	1,406	1,326
Shares Outstanding	159	153	134	118	110	103	98	120	117	113	111	105	101	95	92
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	5	5	2	7	7	9	10
Net Debt	-623	567	1,035	1,169	1,641	1,635	1,944	1,428	1,279	1,389	1,562	1,414	1,550	1,586	1,480
Net Debt to Equity	707.39	-6,080.42	-244.32	-132.34	-153.3	-136.18	-154.28	-103.04	-85.86	-99.91	-123.93	-90.53	-98.05	-80.98	-68.72
Tangible Common Equity Ratio	-7.88	-3.08	-18.25	-50.63	-48.84	-65.42	-53.13	-92.2	-101.88	-101.17	-81.62	-114.57	-114.63	-178.28	-208.46
Current Ratio	2.2	2.36	0.89	1.03	1.31	1.21	1.57	1.39	1.32	1.23	1.18	0.93	0.83	0.43	0.49
Cash Conversion Cycle	-29.53	-41.08	-42.45	-47.58	-45.33	-35.25	-25.45	-34.1	-42.41	-27.72	-18.93	-15.62	-19.1	-20.63	-21.22

Cash Flow Statement (USD)

API Chat

	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	143	320	544	355	375	441	457	582	612	815	785	674	818	786	826
+ Depreciation & Amortization	56	55	61	64	61	58	50	48	46	46	48	47	44	37	31
+ Non-Cash Items	68	26	30	47	60	44	28	-6	39	39	59	55	35	44	65
+ Stock-Based Compensation	43	33	37	44	46	50	53	53	51	48	53	59	60	61	70
+ Deferred Income Taxes	25	72	-113	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	- -	-79	106	3	14	-6	-25	-58	-12	-9	6	-4	-24	-18	-5
+ Chg in Non-Cash Work Cap	70	137	-56	135	173	150	168	73	57	-170	-85	56	-43	36	170
+ (Inc) Dec in Accts Receiv	- -	3	-2	- -	1	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	8	-9	-3	12	-1	8	14	1	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	-3	-14	19	45	21	40	15	-2	- -	2	15	- -	- -	- -	- -
+ Inc (Dec) in Other	66	156	-70	78	153	103	138	74	57	-172	-100	56	-43	36	170
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	336	538	579	601	670	693	703	698	754	730	807	831	854	903	1,091
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-193	-53	-66	-39	-41	-170	-49	-37	-40	-43	-53	-27	-46	-28	-23
+ Acq of Fixed Prod Assets	-193	-53	-66	-39	-41	-27	-49	-37	-40	-43	-53	-27	-46	-28	-23
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	-143	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-500	-326	-1,036	-883	-643	-662	-621	-638	-783	-777	-723	-1,048	-901	-1,226	-882
+ Increase in Capital Stock	50	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-550	-326	-1,036	-883	-643	-662	-621	-638	-783	-777	-723	-1,048	-901	-1,226	-882
+ Net Change in LT Investment	467	-1,389	59	152	-452	127	-368	1,055	217	-50	-216	383	-52	314	132
+ Dec in LT Investment	546	1,234	3,509	3,429	2,767	3,818	4,562	4,032	2,248	2,306	2,654	1,722	1,279	1,195	704
+ Inc in LT Investment	-79	-2,623	-3,450	-3,277	-3,219	-3,691	-4,930	-2,977	-2,031	-2,355	-2,871	-1,338	-1,330	-881	-572
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	12	52	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	12	52	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-1	-1	-4	- -	-4	- -	- -	- -	-10	21	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	273	-1,442	-11	113	-497	-43	-405	1,070	167	-72	-269	356	-97	286	109
+ Dividends Paid	-463	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-215
+ Net Cash From Debt	98	- -	638	- -	492	- -	543	-1,250	- -	- -	-9	- -	- -	- -	-7
+ Cash From Debt	100	- -	738	- -	492	- -	543	- -	- -	- -	741	- -	- -	- -	493
+ Repayments of Debt	-2	- -	-100	- -	- -	- -	- -	-1,250	- -	- -	-750	- -	- -	- -	-500
+ Other Financing Activities	14	48	40	24	15	14	13	13	12	13	12	12	12	4	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-852	-278	-357	-860	-136	-649	-65	-1,875	-770	-765	-719	-1,036	-890	-1,222	-1,103
Effect of Foreign Exchange Rates	-3	- -	-3	-2	- -	-1	1	-1	- -	- -	-1	-1	- -	-1	- -
Net Changes in Cash	-243	-1,182	211	-146	37	1	232	-107	151	-107	-181	151	-133	-33	97
EBITDA	401	512	589	628	667	745	758	816	852	871	915	990	1,045	1,095	1,152
EBITDA Margin (%)	51.89	58.63	61.02	62.18	63	65.2	65.02	67.14	69.21	68.82	68.9	69.48	69.97	70.32	69.55
Free Cash Flow	143	485	514	562	629	523	653	661	714	687	754	804	808	874	1,068
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	-12	-52	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	249	523	- -	625	710	609	755	750	787	- -	- -	861	871	932	1,128
Free Cash Flow to Equity	241	485	1,152	562	1,122	666	1,196	-589	714	687	745	804	808	874	1,062
Free Cash Flow per Basic Share	0.87	3.09	3.55	4.43	5.51	4.89	6.51	5.82	6.02	5.97	6.73	7.45	7.81	8.91	11.43
Price/Free Cash Flow	11.28	10.77	14.44	12.54	16.35	11.36	18.89	24.76	28.86	32.25	33.1	25.84	23.7	21.84	20.46
Cash Flow to Net Income	2.35	1.68	1.06	1.69	1.79	1.57	1.54	1.2	1.23	0.9	1.03	1.23	1.04	1.15	1.32
Capital Expenditures	-193	-53	-66	-39	-41	-170	-49	-37	-40	-43	-53	-27	-46	-28	-23