International Business Machines Corporation

IBM

IBMInternational Business Machines Corporation US flag

New York Stock Exchange

264.94

USD

+12.72

- -

249.01BMarket Cap

Income Statement (USD)

API ChatGPT

	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	106,916	102,874	98,368	92,793	81,742	79,920	79,139	79,591	57,714	55,179	57,351	60,530	61,860	62,753	67,536
+ Sales & Services Revenue	106,916	102,874	98,368	92,793	81,742	79,920	79,139	79,591	57,714	55,179	57,351	60,530	61,860	62,753	67,536
- Cost of Revenue	56,778	52,513	49,683	46,386	41,057	41,403	42,196	42,655	26,181	24,314	25,865	27,842	27,560	27,201	28,239
+ Cost of Goods & Services	56,778	52,513	49,683	46,386	41,057	41,403	42,196	42,655	26,181	24,314	25,865	27,842	27,560	27,201	28,239
Gross Profit	50,138	50,361	48,684	46,407	40,684	38,516	36,943	36,936	31,533	30,865	31,486	32,687	34,300	35,551	39,297
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	28,216	27,371	27,184	26,069	24,176	23,839	23,804	23,719	23,995	26,203	24,621	24,513	24,918	25,477	26,805
+ Selling, General & Admin	22,777	22,301	21,893	21,000	19,307	19,241	19,680	19,366	18,724	20,561	18,745	18,609	19,003	17,910	18,141
+ Research & Development	6,258	5,816	5,743	5,437	5,247	5,726	5,590	5,379	5,910	6,262	6,488	6,567	6,775	7,479	8,316
+ Other Operating Expense	-819	-746	-452	-368	-378	-1,128	-1,466	-1,026	-639	-620	-612	-663	-860	88	348
Operating Income (Loss)	21,922	22,990	21,500	20,338	16,508	14,677	13,139	13,217	7,538	4,662	6,865	8,174	9,382	10,074	12,492
- Non-Operating (Income) Loss	919	450	1,256	352	563	2,347	1,739	1,875	332	2,090	2,028	7,018	692	4,277	2,164
+ Interest Expense, Net	275	350	328	394	360	522	471	459	995	1,183	1,103	1,054	937	965	1,290
+ Interest Expense	411	459	402	484	468	630	615	723	1,344	1,288	1,155	1,216	1,607	1,712	1,935
- Interest Income	136	109	74	90	108	108	144	264	349	105	52	162	670	747	645
+ Other Non-Op (Income) Loss	644	100	928	-42	203	1,825	1,268	1,416	-663	907	925	5,964	-245	3,312	874
Pretax Income	21,003	22,540	20,244	19,986	15,945	12,330	11,400	11,342	7,206	2,572	4,837	1,156	8,690	5,797	10,328
- Income Tax Expense (Benefit)	5,148	5,541	3,363	4,234	2,581	449	5,642	2,619	60	-1,360	124	-626	1,176	-218	-242
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	15,855	16,999	16,881	15,751	13,364	11,881	5,758	8,723	7,146	3,932	4,712	1,783	7,514	6,015	10,571
- Net Extraordinary Losses (Gains)	- -	395	398	3,729	174	9	5	-5	-2,285	-1,658	-1,030	143	12	-8	-22
+ Discontinued Operations	- -	-395	-398	-3,729	-174	-9	-5	5	2,285	1,658	1,030	-143	-12	8	22
+ Extraord. & Accounting Changes	- -	790	796	7,458	348	18	10	-10	-4,570	-3,316	-2,060	286	24	-16	-44
Income (Loss) Incl. MI	15,855	16,604	16,483	12,022	13,190	11,872	5,753	8,728	9,431	5,590	5,742	1,640	7,502	6,023	10,593
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	15,855	16,604	16,483	12,022	13,190	11,872	5,753	8,728	9,431	5,590	5,742	1,640	7,502	6,023	10,593
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	15,855	16,604	16,483	12,022	13,190	11,872	5,753	8,728	9,431	5,590	5,742	1,640	7,502	6,023	10,593
EBIT	21,922	22,990	21,500	20,338	16,508	14,677	13,139	13,217	7,538	4,662	6,865	8,174	9,382	10,074	12,492
EBITDA	26,737	27,666	26,178	24,830	20,363	19,058	17,680	17,697	13,597	11,357	13,282	12,976	13,778	14,741	17,513
EBITDA Margin (%)	25.01	26.89	26.61	26.76	24.91	23.85	22.34	22.23	23.56	20.58	23.16	21.44	22.27	23.49	25.93
EBITA	21,922	22,990	21,500	20,338	16,508	14,677	13,139	13,217	7,538	4,662	6,865	8,174	9,382	10,074	12,492
Gross Margin (%)	46.89	48.95	49.49	50.01	49.77	48.19	46.68	46.41	54.64	55.94	54.9	54	55.45	56.65	58.19
Operating Margin (%)	20.5	22.35	21.86	21.92	20.2	18.36	16.6	16.61	13.06	8.45	11.97	13.5	15.17	16.05	18.5
Profit Margin (%)	14.83	16.14	16.76	12.96	16.14	14.85	7.27	10.97	16.34	10.13	10.01	2.71	12.13	9.6	15.68
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	2.9	3.3	3.71	4.25	5	5.5	5.9	6.21	6.43	6.51	6.55	6.59	6.63	6.67	6.71
Depreciation Expense	4,815	4,676	4,678	4,492	3,855	4,381	4,541	4,480	6,059	6,695	6,417	4,802	4,396	4,667	5,021
Basic Weighted Avg Shares	1,197	1,142	1,094	1,004	979	955	933	912	887	890	896	903	911	922	932
Basic EPS, GAAP	13.25	14.53	15.06	11.97	13.48	12.43	6.17	9.57	10.63	6.28	6.41	1.82	8.23	6.53	11.36
Basic EPS from Cont Ops	13.25	14.88	15.42	15.68	13.65	12.44	6.17	9.56	8.05	4.42	5.26	1.98	8.25	6.53	11.34
Diluted Weighted Avg Shares	1,214	1,155	1,103	1,010	983	959	937	916	893	897	905	912	922	937	949
Diluted EPS, GAAP	13.06	14.37	14.94	11.9	13.42	12.38	6.14	9.53	10.56	6.23	6.35	1.8	8.14	6.43	11.17
Diluted EPS from Cont Ops	13.06	14.71	15.3	15.6	13.6	12.39	6.14	9.52	8	4.39	5.21	1.95	8.15	6.42	11.14

Balance Sheet (USD)

API ChatGPT

	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	50,928	49,433	51,350	47,377	42,504	43,888	49,735	49,146	38,420	39,165	29,539	29,118	32,908	34,482	36,944
+ Cash, Cash Equivalents & STI	11,922	11,129	11,066	8,476	8,194	8,527	12,580	11,997	8,868	13,788	7,250	8,738	13,441	14,591	14,417
+ Cash & Cash Equivalents	11,922	10,412	10,716	8,476	7,686	7,826	11,972	11,379	8,172	13,188	6,650	7,886	13,068	13,947	13,587
+ ST Investments	- -	717	350	- -	508	701	608	618	696	600	600	852	373	644	830
+ Accounts & Notes Receiv	29,561	30,578	31,836	31,831	28,554	29,245	31,630	30,563	23,795	16,994	14,977	14,209	13,956	14,010	16,508
+ Accounts Receivable, Net	11,179	10,667	10,465	9,090	8,333	9,182	8,928	7,432	7,870	5,790	6,754	6,541	7,214	6,804	8,112
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	17,212	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	1,170	19,911	21,371	22,741	20,221	20,063	22,702	23,131	15,925	11,204	8,223	7,668	6,742	7,206	8,396
+ Inventories	2,595	2,287	2,310	2,103	1,551	1,553	1,583	1,682	1,619	1,812	1,649	1,552	1,161	1,289	1,220
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	2,007	1,812	1,866	1,674	1,199	1,195	1,250	1,415	1,399	1,649	1,442	1,394	1,083	1,155	990
+ Finished Goods	589	475	444	430	352	358	333	266	220	163	208	158	78	134	230
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	-1	- -	- -	-1	- -	- -	- -	1	- -	- -	-1	- -	- -	- -	- -
+ Other ST Assets	6,850	5,439	6,138	4,967	4,205	4,563	3,942	4,904	4,138	6,571	5,663	4,619	4,350	4,592	4,799
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	65,507	69,783	74,873	69,897	67,987	73,584	75,619	74,237	113,766	116,806	102,462	98,126	102,332	102,694	114,934
+ Property, Plant & Equip, Net	13,883	13,997	13,821	10,772	10,725	10,831	11,116	10,793	15,005	9,770	8,916	8,212	8,722	8,929	9,028
+ Property, Plant & Equip	40,124	40,502	40,475	39,035	29,341	30,134	32,331	32,461	37,023	23,666	23,306	21,573	21,343	20,888	21,003
- Accumulated Depreciation	26,241	26,505	26,654	28,263	18,616	19,303	21,215	21,668	22,018	13,896	14,390	13,361	12,621	11,959	11,975
+ LT Investments & Receivables	258	346	310	594	475	104	122	226	222	216	1,823	1,617	- -	- -	- -
+ LT Investments	258	346	310	594	475	104	122	226	222	216	1,823	1,617	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	51,366	55,440	60,742	58,531	56,787	62,649	64,381	63,218	98,539	106,820	91,723	88,297	93,610	93,765	105,906
+ Total Intangible Assets	29,607	33,034	35,055	33,659	35,507	40,888	40,529	39,353	73,458	67,504	68,154	67,133	71,214	71,367	79,107
+ Goodwill	26,213	29,247	31,184	30,556	32,021	36,199	36,788	36,265	58,222	53,765	55,643	55,949	60,178	60,706	67,717
+ Other Intangible Assets	3,394	3,787	3,871	3,103	3,486	4,689	3,741	3,088	15,236	13,739	12,511	11,184	11,036	10,661	11,390
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	21,759	22,406	25,687	24,872	21,280	21,761	23,852	23,865	25,081	39,316	23,569	21,164	22,396	22,398	26,799
Total Assets	116,433	119,213	126,223	117,271	110,495	117,470	125,356	123,382	152,186	155,971	132,001	127,243	135,241	137,175	151,880
+ Payables & Accruals	16,365	17,747	16,842	17,942	13,228	14,149	15,180	13,545	12,092	12,863	10,136	10,358	9,923	9,774	11,219
+ Accounts Payable	8,517	7,952	7,461	6,864	6,028	6,209	6,451	6,558	4,896	4,033	3,955	4,051	4,132	4,032	4,756
+ Accrued Taxes	3,313	4,948	4,633	5,084	2,847	3,235	4,219	3,046	2,839	3,198	2,289	2,196	2,270	2,033	2,347
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	4,535	4,847	4,748	5,994	4,353	4,705	4,510	3,941	4,357	5,632	3,892	4,111	3,521	3,709	4,116
+ ST Debt	8,465	9,182	6,863	5,731	6,461	7,513	6,986	10,207	10,177	8,151	7,760	5,634	7,246	5,857	7,224
+ ST Borrowings	8,465	9,182	6,863	5,731	6,461	7,513	6,986	10,207	8,797	7,116	6,786	4,760	6,426	5,089	6,424
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	1,380	1,035	974	874	820	768	800
+ Other ST Liabilities	17,293	16,696	16,449	15,908	14,580	14,613	15,197	14,475	15,432	18,855	15,723	15,513	16,953	17,511	20,215
+ Deferred Revenue	12,197	11,952	12,557	11,877	11,021	11,035	11,552	11,165	12,026	11,980	12,518	12,032	13,451	13,907	16,101
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	5,096	4,744	3,892	4,031	3,559	3,578	3,645	3,310	3,406	6,875	3,205	3,481	3,502	3,604	4,114
Total Current Liabilities	42,123	43,625	40,154	39,581	34,269	36,275	37,363	38,227	37,701	39,869	33,619	31,505	34,122	33,142	38,658
+ LT Debt	22,857	24,088	32,856	34,991	33,428	34,655	39,837	35,605	57,981	56,937	47,379	48,379	52,689	52,539	57,383
+ LT Borrowings	22,857	24,088	32,856	34,991	33,428	34,655	39,837	35,605	54,102	54,217	44,917	46,189	50,121	49,884	54,836
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	3,879	2,720	2,462	2,190	2,568	2,655	2,547
+ Other LT Liabilities	31,218	32,516	30,284	30,685	28,374	28,148	30,431	32,620	35,519	38,439	32,007	25,338	25,817	24,101	23,098
+ Accrued Liabilities	4,396	4,939	5,849	3,820	4,024	4,024	4,291	7,141	9,081	8,716	7,533	5,791	4,679	4,437	5,052
+ Pension Liabilities	18,374	21,919	17,915	19,919	17,949	18,564	18,303	18,382	18,663	18,819	16,121	10,903	12,245	10,877	10,563
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	8,448	5,658	6,520	6,946	6,401	5,560	7,837	7,097	7,775	10,904	8,353	8,644	8,893	8,787	7,483
Total Noncurrent Liabilities	54,075	56,604	63,140	65,676	61,802	62,803	70,268	68,225	93,500	95,376	79,386	73,717	78,506	76,640	80,481
Total Liabilities	96,198	100,229	103,294	105,257	96,071	99,078	107,631	106,452	131,201	135,245	113,005	105,222	112,628	109,782	119,139
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	48,129	50,110	51,594	52,666	53,262	53,935	54,566	55,151	55,895	56,556	57,319	58,343	59,643	61,380	63,318
+ Common Stock	48,129	50,110	51,594	52,666	53,262	53,935	54,566	55,151	55,895	56,556	57,319	58,343	59,643	61,380	63,318
+ Additional Paid in Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	110,963	123,131	137,242	150,715	155,518	159,050	163,507	168,071	169,413	169,339	169,392	169,484	169,624	169,968	170,605
+ Retained Earnings	104,857	117,641	130,042	137,793	146,124	152,759	153,126	159,206	162,954	162,717	154,209	149,825	151,276	151,163	155,648
+ Other Equity	-21,885	-25,759	-21,602	-27,875	-29,607	-29,398	-26,592	-29,490	-28,597	-29,337	-23,234	-16,740	-18,761	-15,269	-15,713
Equity Before Minority Interest	20,138	18,860	22,792	11,868	14,262	18,246	17,594	16,796	20,841	20,597	18,901	21,944	22,533	27,307	32,648
+ Minority/Non Controlling Interest	97	124	137	146	162	146	131	134	144	129	95	77	80	86	93
Total Equity	20,235	18,984	22,929	12,014	14,424	18,392	17,725	16,930	20,985	20,726	18,996	22,021	22,613	27,393	32,741
Total Liabilities & Equity	116,433	119,213	126,223	117,271	110,495	117,470	125,356	123,382	152,186	155,971	132,001	127,243	135,241	137,175	151,880
Shares Outstanding	1,163	1,117	1,054	991	966	946	922	892	887	893	898	906	915	926	937
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	5,259	3,755	3,436	3,064	3,388	3,423	3,347
Net Debt	19,400	22,858	29,003	32,246	32,203	34,342	34,851	34,433	54,727	48,145	45,053	43,063	43,479	41,026	47,673
Net Debt to Equity	95.87	120.41	126.49	268.4	223.26	186.72	196.62	203.38	260.79	232.29	237.17	195.55	192.27	149.77	145.61
Tangible Common Equity Ratio	-10.79	-16.3	-13.3	-25.89	-28.12	-29.38	-26.88	-26.68	-66.65	-52.88	-76.99	-75.05	-75.91	-66.82	-63.71
Current Ratio	1.21	1.13	1.28	1.2	1.24	1.21	1.33	1.29	1.02	0.98	0.88	0.92	0.96	1.04	0.96
Cash Conversion Cycle	3.4	-1.85	-0.5	-0.79	-2.95	-0.26	0.61	-4.05	-8.64	4.44	7.62	8.41	3.58	2.69	-0.41

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
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	15,855	16,604	16,483	12,022	13,190	11,872	5,753	8,728	9,431	5,590	5,743	1,639	7,502	6,023	10,593
+ Depreciation & Amortization	4,815	4,676	4,678	4,492	3,855	4,381	4,541	4,480	6,059	6,695	6,417	4,802	4,396	4,667	5,021
+ Non-Cash Items	1,566	755	-1,230	2,120	2,406	-526	-383	1,485	-1,945	-2,337	-1,155	3,792	-151	1,442	718
+ Stock-Based Compensation	697	688	614	512	468	544	534	510	679	937	982	987	1,133	1,311	1,715
+ Deferred Income Taxes	1,212	797	-1,610	-237	1,387	-1,132	-931	853	-1,527	-3,203	-2,001	-2,726	-1,114	-2,330	-957
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-343	-730	-234	1,845	551	62	14	122	-1,097	-71	-136	5,531	-170	2,461	-40
+ Chg in Non-Cash Work Cap	-2,390	-2,449	-2,446	-1,766	-2,196	1,357	6,813	554	1,225	8,249	1,791	202	2,184	1,313	-3,139
+ (Inc) Dec in Accts Receiv	-1,279	-2,230	-1,407	1,270	812	712	1,297	1,006	502	5,297	1,372	-539	725	-374	-4,278
+ (Inc) Dec in Inventories	-163	280	-57	-39	133	-14	18	-127	67	-209	138	71	390	-166	70
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	451	-224	-529	-456	81	197	47	126	-503	138	85	213	65	-13	624
+ Inc (Dec) in Other	-1,399	-275	-453	-2,541	-3,222	462	5,451	-451	1,159	3,023	196	457	1,004	1,866	445
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	19,846	19,586	17,485	16,868	17,255	17,084	16,724	15,247	14,770	18,197	12,796	10,435	13,931	13,445	13,193
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	608	410	372	404	370	424	460	248	537	188	387	111	321	557	121
+ Disp of Fixed Prod Assets	608	410	372	404	370	424	460	248	537	188	387	111	321	557	121
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4,667	-4,717	-4,140	-4,183	-4,151	-4,150	-3,773	-3,964	-2,907	-3,230	-2,768	-1,972	-1,810	-1,685	-1,738
+ Acq of Fixed Prod Assets	-4,108	-4,082	-3,623	-3,740	-3,579	-3,567	-3,229	-3,395	-2,286	-2,618	-2,062	-1,346	-1,245	-1,048	-1,091
+ Acq of Intangible Assets	-559	-635	-517	-443	-572	-583	-544	-569	-621	-612	-706	-626	-565	-637	-647
+ Cash (Repurchase) of Equity	-12,593	-10,455	-12,785	-12,970	-4,535	-3,424	-4,358	-4,614	-1,633	-302	-319	-128	12	94	-308
+ Increase in Capital Stock	2,453	1,540	1,074	709	322	204	175	- -	- -	- -	- -	279	414	745	710
+ Decrease in Capital Stock	-15,046	-11,995	-13,859	-13,679	-4,857	-3,628	-4,533	-4,614	-1,633	-302	-319	-407	-402	-651	-1,018
+ Net Change in LT Investment	1,751	-967	265	155	-231	-161	-1,039	-554	268	-628	-414	-1,265	-496	-1,218	-391
+ Dec in LT Investment	3,345	3,142	4,873	2,493	2,842	5,692	3,910	6,487	3,961	5,618	3,147	4,665	10,647	6,544	9,704
+ Inc in LT Investment	-1,594	-4,109	-4,608	-2,338	-3,073	-5,853	-4,949	-7,041	-3,693	-6,246	-3,561	-5,930	-11,143	-7,762	-10,095
+ Net Cash From Acq & Div	-1,797	-3,123	-2,759	1,701	-3,750	-6,150	-701	-139	-31,554	167	-3,179	-1,076	-5,086	-2,591	-8,295
+ Cash from Divestitures	14	599	297	2,357	- -	- -	- -	- -	1,076	503	114	1,272	- -	698	- -
+ Cash for Acq of Subs	-1,811	-3,722	-3,056	-656	-3,750	-6,150	-701	-139	-32,630	-336	-3,293	-2,348	-5,086	-3,289	-8,295
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-291	-607	-1,064	-1,078	-397	-891	-2,028	-504	6,720	475	-1	- -	1	- -	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-4,396	-9,004	-7,326	-3,001	-8,159	-10,928	-7,081	-4,913	-26,936	-3,028	-5,975	-4,202	-7,070	-4,937	-10,302
+ Dividends Paid	-3,473	-3,773	-4,058	-4,265	-4,897	-5,256	-5,506	-5,666	-5,707	-5,797	-5,869	-5,948	-6,040	-6,147	-6,255
+ Net Cash From Debt	1,049	2,693	6,340	3,536	-82	2,737	2,827	-1,642	18,881	-2,861	-8,075	1,004	4,504	-910	2,902
+ Cash From Debt	9,996	12,242	16,353	8,180	5,540	9,132	9,643	6,891	31,825	10,504	522	7,804	9,586	5,705	8,391
+ Repayments of Debt	-8,947	-9,549	-10,013	-4,644	-5,622	-6,395	-6,816	-8,533	-12,944	-13,365	-8,597	-6,800	-5,082	-6,615	-5,489
+ Other Financing Activities	1,321	-441	620	-1,753	101	26	619	1,453	-2,499	-761	909	114	-245	-116	-168
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-13,696	-11,976	-9,883	-15,452	-9,413	-5,917	-6,418	-10,469	9,042	-9,721	-13,354	-4,958	-1,769	-7,079	-3,829
Effect of Foreign Exchange Rates	-493	-116	28	-655	-473	-51	937	-495	-167	-87	-185	-244	9	-359	418
Net Changes in Cash	1,754	-1,394	276	-1,585	-317	239	3,225	-135	-3,124	5,448	-6,533	1,275	5,092	1,429	-938
EBITDA	26,737	27,666	26,178	24,830	20,363	19,058	17,680	17,697	13,597	11,357	13,282	12,976	13,778	14,741	17,513
EBITDA Margin (%)	25.01	26.89	26.61	26.76	24.91	23.85	22.34	22.23	23.56	20.58	23.16	21.44	22.27	23.49	25.93
Free Cash Flow	15,179	14,869	13,345	12,685	13,104	12,934	12,951	11,283	11,863	14,967	10,028	8,463	12,121	11,760	11,455
Net Cash Paid for Acquisitions	1,797	3,123	2,759	-1,701	3,750	6,150	701	139	31,554	-167	3,179	1,076	5,086	2,591	8,295
Free Cash Flow to Firm	15,489	15,215	13,680	13,066	13,496	13,541	13,262	11,839	13,196	- -	11,153	- -	13,511	- -	- -
Free Cash Flow to Equity	17,395	18,607	20,574	17,068	13,964	16,678	16,782	10,458	31,902	12,906	3,046	10,204	17,511	12,044	15,125
Free Cash Flow per Basic Share	12.68	13.01	12.19	12.63	13.39	13.54	13.88	12.37	13.37	16.81	11.19	9.38	13.3	12.76	12.29
Price/Free Cash Flow	8.7	8.71	9.15	7.36	6.04	7.16	6.71	5.18	6.47	5.04	7.77	10.36	9.58	13.62	18.82
Cash Flow to Net Income	1.25	1.18	1.06	1.4	1.31	1.44	2.91	1.75	1.57	3.26	2.23	6.36	1.86	2.23	1.25
Capital Expenditures	-4,667	-4,717	-4,140	-4,183	-4,151	-4,150	-3,773	-3,964	-2,907	-3,230	-2,768	-1,972	-1,810	-1,685	-1,738