US stock · Technology sector · Software—Infrastructure
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Microsoft Corporation

MSFTNASDAQ

259.62

USD
-1.03
(-0.40%)
After Hours Market
27.10P/E
24Forward P/E
1.05P/E to S&P500
1.942TMarket CAP
0.93%Div Yield
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Currency: USD, in millions
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Income Statement
Revenue
198
346
591
804
1,183
1,843
2,759
3,753
4,649
5,937
8,671
11,358
14,484
19,747
22,956
25,296
28,365
32,187
36,835
39,788
44,282
51,122
60,420
58,437
62,484
69,943
73,723
77,849
86,833
93,580
85,320
89,950
110,360
125,843
143,015
168,088
COGS
35
66
132
180
206
287
354
482
526
608
708
528
173
1,804
2,254
3,455
5,191
5,686
6,716
6,200
7,650
10,693
11,598
12,155
12,395
15,577
17,530
20,249
26,934
33,038
32,780
34,261
38,353
42,910
46,078
52,232
Gross Profit
162
280
459
624
977
1,557
2,405
3,271
4,123
5,329
7,963
10,830
14,311
17,943
20,702
21,841
23,174
26,501
30,119
33,588
36,632
40,429
48,822
46,282
50,089
54,366
56,193
57,600
59,899
60,542
52,540
55,689
72,007
82,933
96,937
115,856
Gross Profit Ratio
82.23%
80.83%
77.66%
77.60%
82.56%
84.44%
87.16%
87.16%
88.69%
89.76%
91.83%
95.35%
98.81%
90.86%
90.18%
86.34%
81.70%
82.33%
81.77%
84.42%
82.72%
79.08%
80.80%
79.20%
80.16%
77.73%
76.22%
73.99%
68.98%
64.70%
61.58%
61.91%
65.25%
65.90%
67.78%
68.93%
Operating Expenses
102
153
271
381
584
907
1,409
1,945
2,397
3,291
4,885
5,700
7,371
7,900
9,673
10,121
11,264
13,284
21,085
19,027
20,160
21,905
26,330
25,919
25,932
27,205
28,237
30,836
32,013
32,370
31,248
33,057
36,949
39,974
43,978
45,940
R&D Expenses
- -
- -
- -
- -
- -
- -
- -
- -
610
860
1,432
1,925
2,502
2,970
3,775
4,379
4,307
4,659
7,779
6,184
6,584
7,121
8,164
9,010
8,714
9,043
9,811
10,411
11,381
12,046
11,988
13,037
14,726
16,876
19,269
20,716
Selling, G&A Exp.
96
145
255
357
538
831
1,296
1,794
1,550
2,162
2,973
3,218
3,845
3,920
5,150
5,742
6,957
8,625
13,306
12,843
13,576
14,784
18,166
16,909
17,218
18,162
18,426
20,425
20,632
20,324
19,260
20,020
22,223
23,098
24,709
25,224
General and Admin. Exp.
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5,127
4,030
4,004
4,222
4,569
5,149
4,821
4,611
4,563
4,481
4,754
4,885
5,111
5,107
Selling and Marketing Exp.
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
13,039
12,879
13,214
13,940
13,857
15,276
15,811
15,713
14,697
15,539
17,469
18,213
19,598
20,117
Other Expenses
6
8
16
24
46
76
112
151
237
269
480
557
1,024
1,010
748
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
COGS and Expenses
137
219
403
561
790
1,194
1,763
2,427
2,923
3,899
5,593
6,228
7,544
9,704
11,927
13,576
16,455
18,970
27,801
25,227
27,810
32,598
37,928
38,074
38,327
42,782
45,767
51,085
58,947
65,408
64,028
67,318
75,302
82,884
90,056
98,172
Interest Income
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
888
706
843
900
- -
- -
- -
- -
- -
- -
- -
2,762
2,680
2,131
Interest Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
151
295
380
429
597
781
1,243
2,222
2,733
2,686
2,591
2,346
Depreciation and Amortization
6
8
16
24
46
76
112
151
237
269
480
557
1,024
1,010
748
1,536
1,084
1,439
1,186
855
903
1,440
2,056
2,562
2,673
2,766
2,967
3,755
5,212
5,957
6,622
8,778
10,261
11,682
12,796
11,686
EBITDA
72
129
200
275
457
746
1,154
1,552
1,959
2,436
3,859
5,871
8,141
12,901
15,023
12,686
12,597
16,165
13,382
17,483
19,165
21,541
25,870
22,383
27,837
31,132
25,614
31,236
33,629
25,245
27,616
34,149
49,468
58,056
68,423
85,134
EBITDA ratio
36.35%
37.29%
33.80%
34.23%
38.61%
40.49%
41.82%
41.35%
42.14%
41.03%
44.50%
51.69%
56.21%
65.33%
65.44%
50.15%
44.41%
50.22%
36.33%
43.94%
43.28%
42.14%
42.82%
38.30%
44.55%
44.51%
34.74%
40.12%
38.73%
26.98%
32.37%
37.96%
44.82%
46.13%
47.84%
50.65%
Operating Income
61
127
187
242
393
650
996
1,326
1,726
2,038
3,078
5,130
6,940
10,043
11,029
11,720
11,910
13,217
9,034
14,561
16,472
18,524
22,492
20,363
24,098
27,161
21,763
26,764
27,759
18,161
20,182
22,326
35,058
42,959
52,959
69,916
Operating Income ratio
30.84%
36.69%
31.72%
30.14%
33.23%
35.25%
36.10%
35.33%
37.13%
34.33%
35.50%
45.17%
47.91%
50.86%
48.04%
46.33%
41.99%
41.06%
24.53%
36.60%
37.20%
36.23%
37.23%
34.85%
38.57%
38.83%
29.52%
34.38%
31.97%
19.41%
23.65%
24.82%
31.77%
34.14%
37.03%
41.59%
Total Other Income Exp.(Gains)
5
(6)
(4)
9
17
21
45
75
(4)
129
301
184
177
1,848
3,246
(195)
(397)
1,509
3,162
2,067
1,790
1,577
1,322
(542)
915
910
504
288
61
346
(431)
823
1,416
729
77
1,186
Income Before Tax
66
121
184
251
411
671
1,041
1,401
1,722
2,167
3,379
5,314
7,117
11,891
14,275
11,525
11,513
14,726
12,196
16,628
18,262
20,101
23,814
19,821
25,013
28,071
22,267
27,052
27,820
18,507
19,751
23,149
36,474
43,688
53,036
71,102
Income Before Tax ratio
33.42%
35.10%
31.09%
31.21%
34.70%
36.38%
37.75%
37.33%
37.04%
36.50%
38.97%
46.79%
49.14%
60.22%
62.18%
45.56%
40.59%
45.75%
33.11%
41.79%
41.24%
39.32%
39.41%
33.92%
40.03%
40.13%
30.20%
34.75%
32.04%
19.78%
23.15%
25.74%
33.05%
34.72%
37.08%
42.30%
Income Tax Expense (Gain)
27
50
60
80
131
208
333
448
576
714
1,184
1,860
2,627
4,106
4,854
3,804
3,684
4,733
4,028
4,374
5,663
6,036
6,133
5,252
6,253
4,921
5,289
5,189
5,746
6,314
2,953
1,945
19,903
4,448
8,755
9,831
Net Income
39
72
124
171
279
463
708
953
1,146
1,453
2,195
3,454
4,490
7,785
9,421
7,346
7,829
9,993
8,168
12,254
12,599
14,065
17,681
14,569
18,760
23,150
16,978
21,863
22,074
12,193
16,798
21,204
16,571
39,240
44,281
61,271
Net Income Ratio
19.90%
20.79%
20.97%
21.22%
23.59%
25.10%
25.67%
25.39%
24.65%
24.47%
25.31%
30.41%
31.00%
39.42%
41.04%
29.04%
27.60%
31.05%
22.17%
30.80%
28.45%
27.51%
29.26%
24.93%
30.02%
33.10%
23.03%
28.08%
25.42%
13.03%
19.69%
23.57%
15.02%
31.18%
30.96%
36.45%
EPS
0.01
0.01
0.02
0.03
0.04
0.06
0.08
0.10
0.12
0.14
0.21
0.33
0.46
0.77
0.91
0.69
0.72
0.93
0.76
1.13
1.21
1.44
1.90
1.63
2.13
2.73
2.02
2.61
2.66
1.49
2.12
2.74
2.15
5.11
5.82
8.12
EPS Diluted
0.01
0.01
0.02
0.03
0.04
0.06
0.08
0.10
0.12
0.14
0.21
0.33
0.42
0.71
0.85
0.66
0.70
0.92
0.75
1.12
1.20
1.42
1.87
1.62
2.10
2.69
2.00
2.58
2.63
1.48
2.10
2.71
2.13
5.06
5.76
8.05
Weighted Avg. Shares Outs.
7,342
7,190
6,195
6,820
7,977
8,413
8,851
9,530
9,760
10,032
10,240
10,496
9,728
10,056
10,378
10,682
10,812
10,723
10,803
10,839
10,438
9,742
9,328
8,945
8,813
8,490
8,396
8,375
8,299
8,177
7,925
7,746
7,700
7,673
7,610
7,547
Weighted Avg. Shares Outs. Dil.
7,342
7,190
6,195
6,820
7,977
8,413
8,851
9,530
9,760
10,032
10,240
10,496
10,724
10,964
11,072
11,148
11,106
10,882
10,894
10,906
10,531
9,886
9,470
8,996
8,927
8,593
8,506
8,470
8,399
8,254
8,013
7,832
7,794
7,753
7,683
7,608
Balance Sheet
Cash and Cash Equivalents
103
133
183
192
246
417
791
1,013
1,477
1,962
2,601
3,706
3,839
4,975
4,846
3,922
3,016
6,438
15,982
4,851
6,714
6,111
10,339
6,076
5,505
9,610
6,938
3,804
8,669
5,595
6,510
7,663
11,946
11,356
13,576
11,748
Short-Term Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
12,261
18,952
27,678
35,636
42,610
44,610
32,900
27,447
17,300
13,323
25,371
31,283
43,162
56,102
73,218
77,040
90,931
106,730
125,318
121,822
122,463
122,951
118,586
Cash & Short-Term Investments
103
133
183
192
246
417
791
1,013
1,477
1,962
2,601
3,706
3,839
17,236
23,798
31,600
38,652
49,048
60,592
37,751
34,161
23,411
23,662
31,447
36,788
52,772
63,040
77,022
85,709
96,526
113,240
132,981
133,768
133,819
136,527
130,334
Net Receivables
35
55
94
111
181
243
824
338
475
581
639
980
1,460
2,245
3,250
3,671
5,129
5,196
5,890
7,180
9,316
11,338
13,589
11,192
13,014
14,987
15,780
17,486
19,544
17,908
18,277
19,792
26,481
29,524
32,011
38,043
Inventory
8
17
54
38
56
47
86
127
102
88
- -
- -
- -
- -
- -
- -
673
640
421
491
1,478
1,127
985
717
740
1,372
1,137
1,938
2,660
2,902
2,251
2,181
2,662
2,063
1,895
2,636
Other Current Assets
3
9
15
128
237
321
69
1,372
2,258
2,989
4,599
5,687
10,590
752
3,260
4,366
4,122
4,089
3,663
3,315
4,055
4,292
5,006
5,924
5,134
5,787
5,127
5,020
6,333
7,376
5,892
4,897
6,751
10,146
11,482
13,393
Total Current Assets
148
213
345
469
720
1,029
1,770
2,850
4,312
5,620
7,839
10,373
15,889
20,233
30,308
39,637
48,576
58,973
70,566
48,737
49,010
40,168
43,242
49,280
55,676
74,918
85,084
101,466
114,246
124,712
139,660
159,851
169,662
175,552
181,915
184,406
PP&E
20
70
130
199
325
530
767
867
930
1,192
1,326
1,465
1,505
1,611
1,903
2,309
2,268
2,223
2,326
2,346
3,044
4,350
6,242
7,535
7,630
8,162
8,269
9,991
13,011
14,731
18,356
23,734
36,146
43,856
52,904
70,803
Goodwill
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3,866
4,760
12,108
12,503
12,394
12,581
13,452
14,655
20,127
16,939
17,872
35,122
35,683
42,026
43,351
49,711
Intangible Assets
- -
- -
8
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,669
3,512
3,684
3,808
539
878
1,973
1,759
1,158
744
3,170
3,083
6,981
4,835
3,733
10,106
8,053
7,750
7,038
7,800
Goodwill and Intangible Assets
- -
- -
8
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,669
3,512
3,684
3,808
4,405
5,638
14,081
14,262
13,552
13,325
16,622
17,738
27,108
21,774
21,605
45,228
43,736
49,776
50,389
57,511
Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
6,588
4,933
7,754
10,865
9,776
10,844
14,597
12,053
10,431
6,023
1,862
2,649
2,965
5,984
Tax Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,829
3,621
2,611
1,389
949
279
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Other Non-Current Assets
3
5
10
53
60
86
104
88
121
398
928
2,549
4,963
15,312
19,939
17,311
15,133
14,863
13,984
12,303
10,527
11,626
1,691
1,599
1,501
1,434
1,520
2,392
3,422
2,953
3,642
6,250
7,442
14,723
13,138
15,075
Total Non-Current Assets
23
75
148
252
385
616
870
955
1,051
1,590
2,254
4,014
6,468
16,923
21,842
19,620
19,070
20,598
21,823
22,078
20,587
23,003
29,551
28,608
30,437
33,786
36,187
40,965
58,138
51,511
54,034
81,235
89,186
111,004
119,396
149,373
Other Assets
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Assets
171
288
493
721
1,105
1,644
2,640
3,805
5,363
7,210
10,093
14,387
22,357
37,156
52,150
59,257
67,646
79,571
92,389
70,815
69,597
63,171
72,793
77,888
86,113
108,704
121,271
142,431
172,384
176,223
193,694
241,086
258,848
286,556
301,311
333,779
Accounts Payable
- -
- -
- -
42
51
86
188
239
324
563
808
721
759
874
1,083
1,188
1,208
1,573
1,717
2,086
2,909
3,247
4,034
3,324
4,025
4,197
4,175
4,828
7,432
6,591
6,898
7,390
8,617
9,382
12,530
15,163
Short-Term Debt
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
2,000
1,000
- -
1,231
2,999
2,000
7,484
12,904
10,121
3,998
5,516
3,749
8,072
Tax Payable
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3,248
725
1,074
580
789
592
782
606
580
718
2,121
5,665
2,130
2,174
Deferred Revenue
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5,614
5,920
7,225
6,514
7,502
9,138
10,779
13,397
13,003
13,652
15,722
18,653
20,639
23,150
23,223
27,468
34,102
28,905
32,676
36,000
41,525
Other Current Liabilities
30
47
118
117
136
208
259
324
589
784
1,617
2,889
4,971
7,844
8,672
4,330
5,616
5,176
6,738
7,289
10,395
9,728
12,455
8,707
7,470
8,855
8,629
8,951
13,043
12,560
12,087
12,914
16,968
21,846
20,031
23,897
Total Current Liabilities
30
47
118
159
187
293
447
563
913
1,347
2,425
3,610
5,730
8,718
9,755
11,132
12,744
13,974
14,969
16,877
22,442
23,754
29,886
27,034
26,147
28,774
32,688
37,417
45,625
49,858
59,357
64,527
58,488
69,420
72,310
88,657
Long-Term Debt
2
2
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3,746
4,939
11,921
10,713
12,601
20,645
27,808
40,783
76,073
77,810
72,850
67,249
59,703
Deferred Revenue
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,900
1,281
1,178
1,398
1,406
1,760
2,008
2,095
6,441
10,377
3,815
4,530
3,180
2,616
Deferred Tax Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,027
836
398
1,731
- -
- -
- -
- -
- -
- -
229
1,456
1,893
1,709
2,728
2,835
1,476
531
541
233
204
198
Other Non-Current Liabilities
- -
0
(0)
- -
(0)
- -
- -
- -
- -
405
635
- -
- -
1,385
- -
- -
2,324
2,846
2,595
5,823
7,051
8,320
4,721
6,269
7,445
8,072
8,208
10,000
11,594
13,544
13,640
17,184
35,476
37,193
40,064
40,617
Total Non-Current Liabilities
2
2
(0)
- -
(0)
- -
- -
- -
- -
405
635
- -
- -
1,385
1,027
836
2,722
4,577
2,595
5,823
7,051
8,320
6,621
11,296
13,791
22,847
22,220
26,070
36,975
46,282
62,340
104,165
117,642
114,806
110,697
103,134
Other Liabilities
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Capital Lease Obligations
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
5,568
6,188
7,671
9,629
Total Liabilities
31
49
118
159
187
293
447
563
913
1,752
3,060
3,610
5,730
8,718
10,782
11,968
15,466
18,551
17,564
22,700
29,493
32,074
36,507
38,330
39,938
51,621
54,908
63,487
82,600
96,140
121,697
168,692
176,130
184,226
183,007
191,791
Preferred Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Common Stock
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
13,844
23,195
28,390
31,647
35,344
56,396
60,413
59,005
60,557
62,849
62,382
62,856
63,415
65,797
67,306
68,366
68,465
68,178
69,315
71,223
78,520
80,552
83,111
Retained Earnings
89
161
285
456
689
956
1,536
2,156
2,950
3,328
3,984
5,288
7,622
13,614
18,173
18,899
20,533
25,676
18,429
(13,724)
(20,130)
(31,114)
(27,703)
(23,793)
(16,681)
(8,195)
566
9,895
17,710
9,096
2,282
2,648
13,682
24,150
34,566
57,055
Other Compreh. Income(Loss)
(11)
(19)
(30)
(50)
(74)
(119)
(211)
(314)
(515)
(715)
(1,020)
(1,312)
(1,547)
(1,905)
(2,411)
(2,966)
(3,623)
(3,855)
(4,163)
1,426
1,229
1,654
1,140
969
(8,629)
1,863
1,422
1,743
3,708
2,522
1,537
431
(2,187)
(340)
3,186
1,822
Other Total Stockhold. Equity
61
97
121
156
304
513
868
1,400
2,015
2,720
3,944
6,801
10,552
2,885
2,411
2,966
3,623
3,855
4,163
- -
- -
- -
- -
- -
8,629
- -
(1,422)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Stockholders Equity
139
239
376
562
919
1,351
2,193
3,242
4,450
5,333
6,908
10,777
16,627
28,438
41,368
47,289
52,180
61,020
74,825
48,115
40,104
31,097
36,286
39,558
46,175
57,083
66,363
78,944
89,784
80,083
71,997
72,394
82,718
102,330
118,304
141,988
Total Liab.&Stockhold. Equity
171
288
493
721
1,105
1,644
2,640
3,805
5,363
7,085
9,968
14,387
22,357
37,156
52,150
59,257
67,646
79,571
92,389
70,815
69,597
63,171
72,793
77,888
86,113
108,704
121,271
142,431
172,384
176,223
193,694
241,086
258,848
286,556
301,311
333,779
Minority Interest
- -
- -
- -
- -
- -
- -
- -
- -
- -
125
125
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Total Liabilities & Equity
171
288
493
721
1,105
1,644
2,640
3,805
5,363
7,210
10,093
14,387
22,357
37,156
52,150
59,257
67,646
79,571
92,389
70,815
69,597
63,171
72,793
77,888
86,113
108,704
121,271
142,431
172,384
176,223
193,694
241,086
258,848
286,556
301,311
333,779
Cash Flow Statement
Net Income
- -
- -
- -
171
279
463
708
953
1,146
1,453
2,195
3,454
4,490
7,785
9,421
7,346
7,829
9,993
8,168
12,254
12,599
14,065
17,681
14,569
18,760
23,150
16,978
21,863
22,074
12,193
16,798
21,204
16,571
39,240
44,281
61,271
Depreciation and Amortization
- -
- -
- -
24
46
76
112
151
237
269
480
557
1,024
1,010
748
1,536
1,084
1,439
1,186
855
903
1,440
2,056
2,562
2,673
2,766
2,967
3,755
5,212
5,957
6,622
8,778
10,261
11,682
12,796
11,686
Deferred Income Tax
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(420)
(416)
336
(1,479)
(179)
219
421
935
762
(220)
2
954
(19)
(331)
224
332
(3,296)
13,040
(3,534)
(3,620)
(150)
Stock Based Compensation
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1,479
1,708
1,891
2,166
2,244
2,406
2,446
2,574
2,668
3,266
3,940
4,652
5,289
6,118
Change in Working Capital
- -
- -
- -
28
(47)
19
87
(30)
210
268
1,044
678
1,070
1,395
(1,587)
298
1,992
2,273
1,963
(1,092)
(2,397)
(961)
(2,435)
(178)
30,035
(3,003)
35,930
42,878
44,949
46,585
54,996
69,363
2,284
937
2,148
(936)
Accounts Receivable
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(1,569)
2,215
(2,238)
(1,451)
(1,156)
(1,807)
(1,120)
1,456
(530)
(925)
(3,862)
(2,812)
(2,577)
(6,481)
Inventory
- -
- -
- -
15
(16)
8
(40)
(51)
23
15
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(561)
184
(802)
(161)
(272)
600
50
(465)
597
168
(737)
Accounts Payable
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
58
(31)
537
473
(1,054)
88
81
1,148
232
3,018
2,798
Other Working Capital
- -
- -
- -
310
533
735
1,323
2,287
3,399
4,273
5,414
6,763
10,159
11,515
20,553
271
2,430
1,639
109
31,860
1,224
1,123
(271)
1,400
29,374
1,356
36,104
44,253
44,325
45,072
57,072
67,711
5,922
4,462
2,212
2,324
Other Non-Cash Items
- -
- -
- -
- -
- -
0
- -
- -
- -
- -
- -
- -
296
(160)
5,379
4,662
4,020
1,756
4,788
4,767
3,080
2,831
1,896
(386)
(29,066)
1,913
(27,447)
(42,050)
(42,119)
(38,453)
(48,091)
(59,808)
(2,212)
(792)
(219)
(1,249)
Cash Provided by Operating Activities
- -
- -
- -
223
278
558
907
1,074
1,593
1,990
3,719
4,689
6,880
10,030
13,961
13,422
14,509
15,797
14,626
16,605
14,404
17,796
21,612
19,037
24,073
26,994
31,626
28,833
32,231
29,080
33,325
39,507
43,884
52,185
60,675
76,740
CAPEX
- -
- -
- -
(89)
(158)
(264)
(317)
(236)
(278)
(495)
(494)
(499)
(656)
(583)
(879)
(1,103)
(770)
(891)
(1,109)
(812)
(1,578)
(2,264)
(3,182)
(3,119)
(1,977)
(2,355)
(2,305)
(4,257)
(5,485)
(5,944)
(8,343)
(8,129)
(11,632)
(13,925)
(15,441)
(20,622)
Acquisitions Net
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(190)
- -
- -
- -
- -
(1,063)
(4)
(207)
(649)
(1,150)
(8,053)
(868)
(245)
(71)
(10,112)
(1,584)
(5,937)
(3,723)
(1,393)
(25,944)
(888)
(2,388)
(2,521)
(8,909)
Purchases of Investments
- -
- -
- -
(16)
(95)
(77)
(284)
(723)
(860)
(651)
(1,551)
(921)
(4,828)
(36,441)
(43,158)
(66,346)
(89,386)
(89,621)
(92,495)
(68,045)
(51,117)
(36,308)
(20,954)
(36,850)
(30,168)
(35,993)
(57,250)
(75,396)
(72,690)
(98,729)
(129,758)
(176,905)
(137,380)
(57,697)
(77,190)
(62,924)
Sales/Maturities of Investments
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
25,754
32,110
58,715
79,311
84,362
90,863
84,091
58,230
46,187
27,729
25,997
22,578
23,803
45,275
57,594
65,366
85,861
115,341
164,394
143,937
58,237
84,170
65,800
Other Investing Activities
- -
- -
- -
(40)
(18)
(40)
(41)
(17)
(64)
(230)
(625)
(1,669)
(1,598)
79
- -
- -
- -
- -
- -
- -
3,117
(376)
(127)
(930)
(1,502)
- -
(394)
(168)
(87)
(466)
203
(197)
(98)
- -
(1,241)
(922)
Cash Used for Investing Activities
- -
- -
- -
(145)
(271)
(381)
(642)
(976)
(1,202)
(1,376)
(2,670)
(3,089)
(7,272)
(11,191)
(11,927)
(8,734)
(10,845)
(7,213)
(2,745)
15,027
8,003
6,089
(4,587)
(15,770)
(11,314)
(14,616)
(24,786)
(23,811)
(18,833)
(23,001)
(23,950)
(46,781)
(6,061)
(15,773)
(12,223)
(27,577)
Debt Repayment
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(228)
(2,986)
(814)
- -
(1,346)
(3,888)
(1,500)
(2,796)
(7,922)
(10,060)
(4,000)
(5,518)
(3,750)
Common Stock Issued
- -
- -
- -
6
110
180
265
436
431
332
504
1,724
959
2,116
2,717
1,620
1,497
2,120
2,748
3,109
2,101
6,782
3,494
579
2,311
2,422
1,913
931
607
634
668
772
1,002
1,142
1,343
1,693
Common Stock Repurchased
- -
- -
- -
- -
(47)
(197)
(135)
(250)
(348)
(649)
(1,261)
(3,101)
(2,468)
(2,950)
(4,896)
(7,441)
(6,069)
(6,486)
(3,383)
(8,057)
(19,207)
(27,575)
(12,533)
(9,353)
(11,269)
(11,555)
(5,029)
(5,360)
(7,316)
(14,443)
(15,969)
(11,788)
(10,721)
(19,543)
(22,968)
(27,385)
Dividends Paid
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
(15)
(28)
(28)
(13)
- -
- -
(857)
(1,729)
(36,112)
(3,545)
(3,805)
(4,015)
(4,468)
(4,578)
(5,180)
(6,385)
(7,455)
(8,879)
(9,882)
(11,006)
(11,845)
(12,699)
(13,811)
(15,137)
(16,521)
Other Financing Activities
- -
- -
- -
19
(20)
13
(11)
- -
- -
179
352
891
2,091
3,107
- -
235
- -
- -
- -
(18)
89
54
120
6,007
3,231
6,751
93
5,082
11,082
16,111
20,710
39,191
(1,112)
(675)
(3,751)
(2,523)
Cash Used/Provided by Financing Activities
- -
- -
- -
26
44
(4)
119
186
83
(138)
(405)
(501)
554
2,245
(2,192)
(5,586)
(4,572)
(5,223)
(2,364)
(41,078)
(20,562)
(24,544)
(12,934)
(7,463)
(13,291)
(8,376)
(9,408)
(8,148)
(8,394)
(9,080)
(8,393)
8,408
(33,590)
(36,887)
(46,031)
(48,486)
Effect of Forex Changes on Cash
- -
- -
- -
(1)
3
(2)
(10)
(62)
(10)
9
(5)
6
(29)
52
29
(26)
2
61
27
(7)
18
56
137
(67)
(39)
103
(104)
(8)
(139)
(73)
(67)
19
50
(115)
(201)
(29)
Net Change In Cash
- -
- -
- -
26
44
(4)
119
186
83
(138)
(405)
(501)
133
1,136
(129)
(924)
(906)
3,422
9,544
(9,453)
1,863
(603)
4,228
(4,263)
(571)
4,105
(2,672)
(3,134)
4,865
(3,074)
915
1,153
4,283
(590)
2,220
648
Cash at the End of Period
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
3,839
4,975
4,846
3,922
3,016
6,438
15,982
4,851
6,714
6,111
10,339
6,076
5,505
9,610
6,938
3,804
8,669
5,595
6,510
7,663
11,946
11,356
13,576
14,224
Cash at the Beginning of Period
- -
- -
- -
91
192
246
417
791
1,013
1,477
1,962
2,601
3,706
3,839
4,975
4,846
3,922
3,016
6,438
14,304
4,851
6,714
6,111
10,339
6,076
5,505
9,610
6,938
3,804
8,669
5,595
6,510
7,663
11,946
11,356
13,576
Free Cash Flow
- -
- -
- -
133
120
294
590
838
1,315
1,495
3,225
4,190
6,224
9,447
13,082
12,319
13,739
14,906
13,517
15,793
12,826
15,532
18,430
15,918
22,096
24,639
29,321
24,576
26,746
23,136
24,982
31,378
32,252
38,260
45,234
56,118
Forex Rate
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -