Teradyne, Inc.

TER

TERTeradyne, Inc. US flag

NASDAQ Global Select

420.12

USD

-36.88

- -

65.77BMarket 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	1,429	1,657	1,428	1,648	1,640	1,753	2,137	2,101	2,295	3,121	3,703	3,155	2,676	2,820	3,190
+ Sales & Services Revenue	1,429	1,657	1,428	1,648	1,640	1,753	2,137	2,101	2,295	3,121	3,703	3,155	2,676	2,820	3,190
- Cost of Revenue	717	771	619	769	724	795	915	880	955	1,336	1,496	1,288	1,140	1,171	1,333
+ Cost of Goods & Services	717	771	619	769	724	795	915	880	955	1,336	1,496	1,288	1,140	1,171	1,333
Gross Profit	712	886	809	879	916	959	1,221	1,220	1,340	1,786	2,207	1,867	1,537	1,649	1,857
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	474	606	616	682	668	661	687	731	800	871	997	1,018	1,014	1,097	1,169
+ Selling, General & Admin	232	277	280	320	306	317	349	391	437	465	548	558	577	617	649
+ Research & Development	201	256	264	292	292	292	307	302	323	375	428	441	418	461	505
+ Other Operating Expense	40	74	72	71	69	53	31	39	40	31	21	19	19	19	15
Operating Income (Loss)	238	280	193	197	248	297	535	489	540	915	1,210	849	522	552	689
- Non-Operating (Income) Loss	24	14	-9	101	-5	352	10	21	14	14	49	9	-3	-57	35
+ Interest Expense, Net	17	20	22	1	-5	-6	4	1	5	18	15	-3	-24	-21	-9
+ Interest Expense	24	25	26	7	2	4	22	22	22	24	18	4	4	4	7
- Interest Income	7	4	4	6	7	9	18	20	17	6	3	6	27	25	16
+ Other Non-Op (Income) Loss	7	-7	-31	101	- -	358	6	20	9	-4	34	11	20	-36	44
Pretax Income	214	266	202	95	253	-55	524	468	526	901	1,161	840	526	609	653
- Income Tax Expense (Benefit)	-130	49	37	14	47	-12	267	16	58	117	146	125	77	60	79
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	344	217	165	81	206	-43	258	452	467	784	1,015	716	449	542	554
- Net Extraordinary Losses (Gains)	-26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-52	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	370	217	165	81	206	-43	258	452	467	784	1,015	716	449	542	554
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	370	217	165	81	206	-43	258	452	467	784	1,015	716	449	542	554
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	370	217	165	81	206	-43	258	452	467	784	1,015	716	449	542	554
EBIT	238	280	193	197	248	297	535	489	540	915	1,210	849	522	552	689
EBITDA	345	425	343	349	389	417	643	602	660	1,042	1,336	960	633	672	817
EBITDA Margin (%)	24.14	25.66	24.05	21.19	23.71	23.8	30.08	28.67	28.78	33.38	36.07	30.42	23.66	23.83	25.6
EBITA	238	280	193	197	248	297	535	489	540	915	1,210	849	522	552	689
Gross Margin (%)	49.81	53.48	56.64	53.33	55.85	54.68	57.17	58.09	58.38	57.21	59.59	59.18	57.42	58.48	58.22
Operating Margin (%)	16.67	16.88	13.5	11.94	15.13	16.95	25.03	23.28	23.52	29.32	32.68	26.91	19.52	19.58	21.59
Profit Margin (%)	25.88	13.1	11.55	4.93	12.59	-2.48	12.06	21.51	20.37	25.12	27.4	22.68	16.77	19.23	17.37
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	0.18	0.24	0.24	0.28	0.36	0.36	0.4	0.4	0.44	0.44	0.48	0.48
Depreciation Expense	107	146	151	153	141	120	108	113	121	127	125	111	111	120	128
Basic Weighted Avg Shares	185	187	191	203	212	203	198	188	170	166	165	158	154	159	159
Basic EPS, GAAP	2	1.16	0.86	0.4	0.98	-0.21	1.3	2.41	2.74	4.72	6.15	4.52	2.91	3.41	3.48
Basic EPS from Cont Ops	1.86	1.16	0.86	0.4	0.98	-0.21	1.3	2.41	2.74	4.72	6.15	4.52	2.91	3.41	3.48
Diluted Weighted Avg Shares	227	230	236	223	213	203	202	193	179	183	184	170	164	163	160
Diluted EPS, GAAP	1.63	0.94	0.7	0.37	0.97	-0.21	1.28	2.35	2.6	4.28	5.53	4.22	2.73	3.32	3.47
Diluted EPS from Cont Ops	1.52	0.94	0.7	0.37	0.97	-0.21	1.28	2.35	2.6	4.28	5.53	4.22	2.73	3.32	3.47

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	1,100	1,236	1,440	1,244	1,260	1,624	2,270	1,732	1,659	2,415	2,576	2,258	2,162	1,816	1,949
+ Cash, Cash Equivalents & STI	670	770	929	828	742	1,179	1,778	1,117	911	1,436	1,366	894	820	600	322
+ Cash & Cash Equivalents	574	339	342	294	265	308	430	927	774	914	1,122	855	758	553	294
+ ST Investments	97	432	587	534	478	871	1,348	190	137	522	244	40	62	46	28
+ Accounts & Notes Receiv	129	153	158	151	211	192	273	291	362	498	551	491	422	471	787
+ Accounts Receivable, Net	129	153	158	151	211	192	273	291	362	498	551	491	422	471	787
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	160	139	138	105	154	136	108	154	197	222	243	325	310	298	380
+ Raw Materials	109	- -	- -	- -	73	59	63	89	119	114	156	256	258	226	268
+ Work In Process	24	32	16	10	33	23	19	31	33	25	38	38	27	42	48
+ Finished Goods	33	18	38	24	48	54	25	33	45	83	50	31	25	31	64
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	-7	90	84	71	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	140	173	216	160	153	116	112	171	189	259	416	547	610	447	461
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,089	1,193	1,190	1,295	1,289	1,139	839	974	1,128	1,237	1,233	1,243	1,325	1,892	2,234
+ Property, Plant & Equip, Net	232	266	275	329	273	254	268	280	378	449	456	492	519	578	640
+ Property, Plant & Equip	798	856	838	897	849	849	914	961	1,107	1,239	1,308	1,398	1,418	1,532	1,689
- Accumulated Depreciation	566	591	563	568	576	595	646	682	730	790	852	906	899	954	1,049
+ LT Investments & Receivables	84	236	271	471	266	434	126	88	104	118	134	111	117	619	663
+ LT Investments	84	236	271	471	266	434	126	88	104	118	134	111	117	619	663
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	772	692	643	495	749	451	445	607	646	670	643	640	688	695	931
+ Total Intangible Assets	746	668	614	464	728	324	331	507	542	555	502	457	451	411	572
+ Goodwill	353	349	362	273	488	223	252	382	416	454	426	403	416	395	521
+ Other Intangible Assets	393	319	252	191	240	100	79	125	125	101	76	53	35	16	51
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	26	23	29	31	21	127	114	99	104	115	142	183	237	284	359
Total Assets	2,189	2,429	2,630	2,539	2,549	2,762	3,110	2,707	2,787	3,652	3,809	3,501	3,487	3,709	4,184
+ Payables & Accruals	133	128	138	118	158	177	205	215	242	292	366	317	343	293	488
+ Accounts Payable	70	58	63	48	92	95	86	101	127	134	153	140	180	135	269
+ Accrued Taxes	1	12	11	20	22	30	59	36	44	81	89	65	49	68	107
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	62	57	64	50	44	51	59	78	71	78	124	112	115	91	112
+ ST Debt	3	2	187	- -	- -	- -	- -	- -	19	54	39	69	18	19	219
+ ST Borrowings	3	2	187	- -	- -	- -	- -	- -	- -	33	19	50	- -	- -	200
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	19	21	20	19	18	19	19
+ Other ST Liabilities	238	168	151	173	215	195	250	261	278	355	400	361	299	313	408
+ Deferred Revenue	79	81	55	72	86	84	84	78	105	135	146	148	100	108	153
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	159	86	96	102	129	111	166	183	173	220	254	212	199	205	255
Total Current Liabilities	374	298	476	292	373	373	454	476	539	701	805	746	660	625	1,115
+ LT Debt	160	171	- -	- -	- -	353	366	380	441	419	145	64	65	58	64
+ LT Borrowings	160	171	- -	- -	- -	353	366	380	395	377	89	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	46	42	56	64	65	58	64
+ Other LT Liabilities	150	182	169	168	210	208	336	328	327	322	295	240	236	207	209
+ Accrued Liabilities	50	66	54	43	52	36	37	53	60	69	61	48	37	42	56
+ Pension Liabilities	77	94	92	108	104	107	120	117	134	151	151	116	132	133	145
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	24	21	23	16	54	66	179	157	133	102	83	75	66	32	8
Total Noncurrent Liabilities	310	353	169	168	210	561	702	708	768	741	440	304	301	265	273
Total Liabilities	684	651	645	460	583	934	1,156	1,184	1,307	1,442	1,245	1,050	961	889	1,388
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1,316	1,371	1,415	1,464	1,506	1,619	1,663	1,694	1,741	1,786	1,832	1,775	1,846	1,930	2,009
+ Common Stock	23	23	24	27	25	25	24	22	21	21	20	19	19	20	20
+ Additional Paid in Capital	1,293	1,348	1,391	1,437	1,481	1,594	1,638	1,672	1,720	1,765	1,812	1,756	1,827	1,910	1,990
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	184	401	566	610	468	230	272	-158	-242	387	737	726	707	971	744
+ Other Equity	5	6	4	5	-8	-20	19	-13	-19	34	-6	-50	-27	-81	42
Equity Before Minority Interest	1,505	1,778	1,985	2,079	1,966	1,829	1,954	1,522	1,480	2,211	2,564	2,451	2,526	2,819	2,796
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,505	1,778	1,985	2,079	1,966	1,829	1,954	1,522	1,480	2,211	2,564	2,451	2,526	2,819	2,796
Total Liabilities & Equity	2,189	2,429	2,630	2,539	2,549	2,762	3,110	2,707	2,787	3,652	3,809	3,501	3,487	3,709	4,184
Shares Outstanding	184	188	192	217	204	199	196	176	166	166	162	156	153	162	156
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	65	63	76	83	83	77	83
Net Debt	-411	-166	-155	-294	-265	45	-64	-547	-379	-504	-1,014	-805	-758	-553	-94
Net Debt to Equity	-27.32	-9.31	-7.81	-14.15	-13.47	2.45	-3.27	-35.92	-25.62	-22.8	-39.54	-32.83	-29.99	-19.63	-3.35
Tangible Common Equity Ratio	52.62	63.04	68.02	77.85	67.98	61.71	58.4	46.15	41.79	53.46	62.35	65.51	68.35	73.03	61.57
Current Ratio	2.94	4.15	3.03	4.27	3.38	4.36	5	3.64	3.08	3.45	3.2	3.03	3.28	2.91	1.75
Cash Conversion Cycle	73.24	70.88	85.7	64.44	72.44	64.43	50.89	66.26	77.34	72.61	73.95	101.78	112.06	103.09	112.69

Cash Flow 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

+ Net Income	344	217	165	81	206	-43	258	452	467	784	1,015	716	449	542	554
+ Depreciation & Amortization	107	146	151	153	141	120	108	113	121	127	125	111	111	120	128
+ Non-Cash Items	-90	77	-3	156	44	324	72	71	37	22	52	19	30	-20	56
+ Stock-Based Compensation	32	40	37	40	30	31	34	34	38	45	46	48	58	60	64
+ Deferred Income Taxes	-147	-3	-6	-20	-12	-69	37	28	-9	-16	-17	-39	-38	-46	-52
+ Asset Impairment Charge	- -	- -	- -	99	- -	338	- -	- -	15	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	25	40	-34	37	26	24	1	9	-6	-7	23	10	10	-33	44
+ Chg in Non-Cash Work Cap	-81	-37	-44	102	32	55	189	-159	-47	-64	-93	-267	-4	30	-64
+ (Inc) Dec in Accts Receiv	66	-24	-4	8	-57	18	-81	-18	-70	-129	-58	51	71	-53	-306
+ (Inc) Dec in Inventories	-1	18	22	52	16	34	45	-29	-27	-8	6	-81	5	9	-28
+ (Inc) Dec in Prepaid Assets	-22	-3	-50	42	3	-19	2	-58	-24	-64	-176	-141	-43	119	-7
+ Inc (Dec) in Accts Payable	-57	-13	16	-21	53	25	44	14	49	73	129	-61	47	-54	209
+ Inc (Dec) in Other	-68	-15	-29	22	17	-4	179	-67	26	65	4	-36	-84	9	68
+ Net Cash From Disc Ops	-5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	275	403	269	492	423	455	626	477	579	869	1,098	578	585	672	674
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-86	-119	-107	-169	-90	-85	-105	-114	-135	-185	-132	-163	-160	-198	-224
+ Acq of Fixed Prod Assets	-86	-119	-107	-169	-90	-85	-105	-114	-135	-185	-132	-163	-160	-198	-224
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-14	18	18	21	-280	-126	-176	-803	-471	-88	-600	-752	-397	-199	-702
+ Increase in Capital Stock	17	18	18	21	20	20	24	21	29	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-31	- -	- -	- -	-300	-146	-200	-823	-500	-88	-600	-752	-397	-199	-702
+ Net Change in LT Investment	503	-485	-161	-149	258	-560	-162	1,198	-25	-385	253	204	-15	17	25
+ Dec in LT Investment	1,189	263	1,009	1,430	1,682	1,096	1,229	2,117	718	515	927	491	146	62	58
+ Inc in LT Investment	-686	-748	-1,171	-1,579	-1,424	-1,656	-1,392	-919	-742	-900	-674	-287	-162	-46	-33
+ Net Cash From Acq & Div	-537	- -	-15	-19	-283	- -	- -	-169	-80	- -	- -	- -	- -	-442	-170
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	90	- -
+ Cash for Acq of Subs	-537	- -	-15	-19	-283	- -	- -	-169	-80	- -	- -	- -	- -	-532	-170
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	38	1	- -	4	1	5	5	9	83	1	- -	3	-5	1	- -
+ Net Cash From Disc Ops	39	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-83	-602	-283	-333	-114	-640	-263	923	-157	-570	120	44	-180	-622	-369
+ Dividends Paid	- -	- -	- -	-37	-51	-49	-55	-67	-61	-66	-66	-70	-68	-76	-76
+ Net Cash From Debt	-3	-3	-3	-191	- -	451	- -	- -	- -	- -	-343	-67	-50	- -	200
+ Cash From Debt	- -	- -	- -	- -	- -	451	- -	- -	- -	- -	- -	- -	- -	185	250
+ Repayments of Debt	-3	-3	-3	-191	- -	- -	- -	- -	- -	- -	-343	-67	-50	-185	-50
+ Other Financing Activities	- -	-51	2	1	-8	-48	-14	-34	-42	-3	- -	-4	13	23	16
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-16	-35	17	-207	-339	228	-245	-903	-574	-158	-1,009	-893	-502	-252	-562
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	3	- -	-1	-1	-2	4	-1	-2	-3
Net Changes in Cash	176	-235	3	-47	-30	43	119	496	-152	141	210	-271	-96	-202	-256
EBITDA	345	425	343	349	389	417	643	602	660	1,042	1,336	960	633	672	817
EBITDA Margin (%)	24.14	25.66	24.05	21.19	23.71	23.8	30.08	28.67	28.78	33.38	36.07	30.42	23.66	23.83	25.6
Free Cash Flow	189	284	162	323	333	370	521	363	444	684	966	415	426	474	450
Net Cash Paid for Acquisitions	537	- -	15	19	283	- -	- -	169	80	- -	- -	- -	- -	442	170
Free Cash Flow to Firm	- -	304	183	329	335	- -	532	384	464	705	981	418	429	477	456
Free Cash Flow to Equity	186	281	159	132	333	821	521	363	444	684	623	348	375	474	650
Free Cash Flow per Basic Share	1.02	1.52	0.85	1.59	1.58	1.83	2.63	1.93	2.61	4.12	5.86	2.62	2.76	2.98	2.83
Price/Free Cash Flow	8.57	7.45	11.06	6.66	8.6	9.52	11.54	10.22	17.15	20.82	24.4	20	23.94	23.63	34.41
Cash Flow to Net Income	0.74	1.86	1.63	6.05	2.05	-10.48	2.43	1.06	1.24	1.11	1.08	0.81	1.3	1.24	1.22
Capital Expenditures	-86	-119	-107	-169	-90	-85	-105	-114	-135	-185	-132	-163	-160	-198	-224