Westinghouse Air Brake Technologies Corporation

WAB

WABWestinghouse Air Brake Technologies Corporation US flag

New York Stock Exchange

270.26

USD

-6.49

- -

45.86BMarket 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	1,968	2,391	2,566	3,044	3,308	2,931	3,882	4,364	8,200	7,556	7,822	8,362	9,677	10,387	11,167
+ Sales & Services Revenue	1,968	2,391	2,566	3,044	3,308	2,931	3,882	4,364	8,200	7,556	7,822	8,362	9,677	10,387	11,167
- Cost of Revenue	1,397	1,697	1,802	2,108	2,260	2,007	2,816	3,130	5,922	5,419	5,453	5,822	6,733	7,021	7,361
+ Cost of Goods & Services	1,397	1,697	1,802	2,108	2,260	2,007	2,816	3,130	5,922	5,419	5,453	5,822	6,733	7,021	7,361
Gross Profit	570	695	764	936	1,048	924	1,065	1,234	2,278	2,137	2,369	2,540	2,944	3,366	3,806
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	300	302	327	409	440	468	644	760	1,615	1,392	1,493	1,529	1,678	1,757	2,013
+ Selling, General & Admin	248	246	263	325	347	374	512	633	1,167	948	1,030	1,029	1,139	1,248	1,490
+ Research & Development	37	41	46	62	71	71	95	88	210	162	176	209	218	206	223
+ Other Operating Expense	15	15	18	22	22	23	36	40	238	282	287	291	321	303	300
Operating Income (Loss)	271	392	437	527	608	457	421	473	663	745	876	1,011	1,266	1,609	1,793
- Non-Operating (Income) Loss	15	15	16	19	22	44	69	106	216	188	139	157	174	199	201
+ Interest Expense, Net	15	14	15	18	17	50	78	112	219	199	177	186	218	201	225
+ Interest Expense	15	14	15	18	17	50	78	112	219	199	177	186	218	201	225
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	1	1	2	5	-7	-9	-6	-3	-11	-38	-29	-44	-2	-24
Pretax Income	255	377	421	508	585	413	352	368	447	557	737	854	1,092	1,410	1,592
- Income Tax Expense (Benefit)	85	126	129	156	187	99	90	76	120	145	172	213	267	343	409
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	170	252	292	352	399	313	262	292	327	412	565	641	825	1,067	1,183
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	17	- -	-6	- -	-4	14	16	20	22	26
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	17	- -	-6	- -	-4	14	16	20	22	26
Income (Loss) Incl. MI	170	252	292	352	399	296	262	298	327	416	551	625	805	1,045	1,157
- Minority Interest	- -	- -	- -	- -	- -	-9	- -	3	- -	2	-7	-8	-10	-11	-13
Net Income, GAAP	170	252	292	352	399	305	262	295	327	414	558	633	815	1,056	1,170
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	170	252	292	352	399	305	262	295	327	414	558	633	815	1,056	1,170
EBIT	271	392	437	527	608	457	421	473	663	745	876	1,011	1,266	1,609	1,793
EBITDA	316	436	489	588	672	526	524	583	982	1,130	1,317	1,437	1,743	2,068	2,250
EBITDA Margin (%)	16.04	18.25	19.03	19.33	20.32	17.96	13.51	13.35	11.98	14.96	16.84	17.18	18.01	19.91	20.15
EBITA	271	392	437	527	608	457	421	473	663	745	876	1,011	1,266	1,609	1,793
Gross Margin (%)	28.99	29.05	29.77	30.74	31.68	31.53	27.44	28.28	27.78	28.28	30.29	30.38	30.42	32.41	34.08
Operating Margin (%)	13.76	16.41	17.04	17.31	18.37	15.58	10.85	10.85	8.09	9.86	11.2	12.09	13.08	15.49	16.06
Profit Margin (%)	8.65	10.53	11.39	11.55	12.05	10.4	6.76	6.76	3.99	5.48	7.13	7.57	8.42	10.17	10.48
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	0.04	0.08	0.13	0.2	0.28	0.36	0.44	0.48	0.48	0.49	0.49	0.61	0.69	0.8	1.01
Depreciation Expense	45	44	51	61	65	70	103	109	319	385	441	426	477	459	457
Basic Weighted Avg Shares	96	95	95	96	96	90	95	96	170	190	188	182	179	174	170
Basic EPS, GAAP	1.78	2.64	3.06	3.67	4.15	3.37	2.75	3.07	1.92	2.18	2.97	3.47	4.56	6.07	6.86
Basic EPS from Cont Ops	1.78	2.64	3.06	3.67	4.15	3.47	2.75	3.04	1.92	2.17	3.01	3.52	4.61	6.13	6.94
Diluted Weighted Avg Shares	97	97	97	97	97	91	96	96	177	190	188	183	180	175	171
Diluted EPS, GAAP	1.76	2.6	3.02	3.63	4.11	3.35	2.73	3.06	1.84	2.17	2.97	3.46	4.54	6.04	6.84
Diluted EPS from Cont Ops	1.76	2.6	3.02	3.63	4.11	3.44	2.73	3.02	1.84	2.16	3	3.51	4.6	6.1	6.91

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	1,056	1,093	1,333	1,638	1,540	2,868	2,265	4,450	4,192	3,880	3,832	4,327	4,855	4,943	5,694
+ Cash, Cash Equivalents & STI	286	216	286	426	226	398	233	581	604	599	473	541	620	715	764
+ Cash & Cash Equivalents	286	216	286	426	226	398	233	581	604	599	473	541	620	715	764
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	346	390	555	631	599	943	1,167	1,147	1,664	1,412	1,477	1,519	1,684	1,702	1,897
+ Accounts Receivable, Net	346	293	349	443	495	668	801	801	1,150	969	1,085	975	1,160	1,152	1,410
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	97	205	188	104	275	366	346	514	443	392	544	524	550	487
+ Inventories	348	407	403	511	479	659	743	845	1,773	1,642	1,689	2,034	2,284	2,314	2,745
+ Raw Materials	155	186	166	222	218	331	378	466	786	670	757	878	1,062	977	- -
+ Work In Process	110	130	137	154	132	145	167	154	374	339	316	515	463	587	- -
+ Finished Goods	83	91	100	135	129	182	197	224	613	633	616	641	759	750	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2,745
+ Other ST Assets	76	80	90	70	236	868	122	1,877	151	227	193	233	267	212	288
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,103	1,259	1,489	1,666	1,690	3,713	4,315	4,200	14,752	14,574	14,622	14,189	14,133	13,759	16,375
+ Property, Plant & Equip, Net	222	244	276	339	353	518	574	564	1,656	1,601	1,497	1,429	1,485	1,447	1,616
+ Property, Plant & Equip	513	556	598	683	717	912	1,026	1,037	2,216	2,373	2,403	2,479	2,675	2,753	3,107
- Accumulated Depreciation	291	312	322	344	364	394	452	473	560	772	906	1,050	1,190	1,306	1,491
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	881	1,014	1,213	1,327	1,336	3,195	3,741	3,636	13,096	12,973	13,125	12,760	12,648	12,312	14,759
+ Total Intangible Assets	845	974	1,172	1,285	1,299	3,133	3,665	3,526	12,465	12,354	12,292	11,910	11,985	11,644	14,054
+ Goodwill	588	666	786	862	859	2,079	2,460	2,396	8,361	8,485	8,587	8,508	8,780	8,710	10,216
+ Other Intangible Assets	257	308	386	423	441	1,054	1,204	1,130	4,104	3,869	3,705	3,402	3,205	2,934	3,838
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	36	40	41	42	37	62	76	109	632	619	833	850	663	668	705
Total Assets	2,159	2,352	2,822	3,304	3,230	6,581	6,580	8,649	18,944	18,454	18,454	18,516	18,988	18,702	22,069
+ Payables & Accruals	420	417	455	555	488	915	992	1,036	2,214	1,894	1,944	2,144	2,130	2,174	2,395
+ Accounts Payable	245	249	327	400	320	530	553	589	1,158	909	1,012	1,301	1,250	1,300	1,402
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	175	168	128	155	168	385	440	446	1,057	985	932	843	880	874	993
+ ST Debt	- -	- -	- -	1	- -	130	47	64	96	447	2	251	781	500	1,250
+ ST Borrowings	- -	- -	- -	1	- -	130	47	64	96	447	2	251	781	500	1,250
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	122	136	124	183	177	402	534	547	948	885	964	1,072	1,145	1,118	1,505
+ Deferred Revenue	73	83	67	112	106	257	370	374	604	643	629	772	804	693	1,015
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	49	54	58	72	70	145	164	173	344	242	335	300	341	425	490
Total Current Liabilities	541	553	579	739	665	1,447	1,573	1,647	3,258	3,226	2,910	3,467	4,056	3,792	5,150
+ LT Debt	396	318	450	520	692	1,763	1,823	3,793	4,334	3,792	4,056	3,751	3,288	3,480	4,291
+ LT Borrowings	396	318	450	520	692	1,763	1,823	3,793	4,334	3,792	4,056	3,751	3,288	3,480	4,291
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	174	199	205	236	172	395	355	341	1,359	1,283	1,249	1,151	1,120	1,297	1,438
+ Accrued Liabilities	74	91	114	113	73	246	176	198	145	168	288	326	318	376	606
+ Pension Liabilities	64	66	50	82	56	111	104	95	113	114	77	57	62	58	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	36	41	41	42	43	38	75	47	1,101	1,001	884	768	740	863	832
Total Noncurrent Liabilities	570	516	655	757	863	2,158	2,178	4,134	5,693	5,075	5,305	4,902	4,408	4,777	5,729
Total Liabilities	1,111	1,070	1,235	1,496	1,528	3,604	3,751	5,780	8,951	8,301	8,215	8,369	8,464	8,569	10,879
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	362	383	416	450	471	871	908	916	7,879	7,883	7,918	7,955	7,979	8,025	8,070
+ Common Stock	1	1	1	1	1	1	1	1	2	2	2	2	2	2	1
+ Additional Paid in Capital	361	381	415	449	469	870	907	915	7,877	7,881	7,916	7,953	7,977	8,023	8,069
- Treasury Stock	309	349	373	392	775	839	827	816	807	1,010	1,306	1,769	2,171	3,273	190
+ Retained Earnings	1,054	1,297	1,577	1,909	2,281	2,553	2,773	3,022	3,267	3,589	4,055	4,577	5,269	6,185	3,878
+ Other Equity	-61	-54	-35	-159	-277	-380	-45	-257	-383	-339	-466	-661	-590	-846	-616
Equity Before Minority Interest	1,045	1,277	1,585	1,807	1,700	2,206	2,809	2,865	9,956	10,123	10,201	10,102	10,487	10,091	11,142
+ Minority/Non Controlling Interest	2	5	2	1	2	771	20	4	37	30	38	45	37	42	48
Total Equity	1,048	1,282	1,587	1,808	1,701	2,977	2,829	2,869	9,994	10,153	10,239	10,147	10,524	10,133	11,190
Total Liabilities & Equity	2,159	2,352	2,822	3,304	3,230	6,581	6,580	8,649	18,944	18,454	18,454	18,516	18,988	18,702	22,069
Shares Outstanding	96	95	96	96	92	95	96	97	192	189	186	181	178	171	171
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	110	102	165	95	466	1,494	1,637	3,276	3,825	3,640	3,585	3,461	3,449	3,265	4,777
Net Debt to Equity	10.52	7.97	10.39	5.27	27.39	50.2	57.88	114.18	38.28	35.85	35.01	34.11	32.77	32.22	42.69
Tangible Common Equity Ratio	15.43	22.34	25.16	25.92	20.84	-4.52	-28.67	-12.83	-38.14	-36.08	-33.32	-26.69	-20.86	-21.41	-35.73
Current Ratio	1.95	1.98	2.3	2.22	2.32	1.98	1.44	2.7	1.29	1.2	1.32	1.25	1.2	1.3	1.11
Cash Conversion Cycle	83.86	78.74	69.34	66.83	72.74	104.87	91.7	95.09	77.56	94.87	95.66	93.21	90.63	94.14	104.01

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	170	252	292	352	399	313	262	292	327	412	565	641	825	1,067	1,183
+ Depreciation & Amortization	45	44	51	61	65	70	103	109	319	385	441	426	477	459	457
+ Non-Cash Items	-1	18	35	17	32	11	-44	21	39	59	130	80	-4	121	112
+ Stock-Based Compensation	19	20	24	26	26	21	21	25	50	20	46	41	47	66	80
+ Deferred Income Taxes	-17	1	15	-7	5	-10	-67	-5	-27	29	88	36	-58	51	11
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	-3	-2	-4	-2	1	- -	2	1	16	10	-4	3	7	4	21
+ Chg in Non-Cash Work Cap	35	-77	-143	43	-44	57	-132	-107	331	-72	-63	-109	-97	187	7
+ (Inc) Dec in Accts Receiv	-69	-23	-150	-17	22	20	-69	-55	-6	315	-76	-52	-195	-34	-36
+ (Inc) Dec in Inventories	-80	-32	26	-64	20	45	-9	-109	256	181	-41	-368	-58	-117	-182
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	135	-32	-3	148	-70	-42	-63	88	-145	-303	189	277	- -	215	76
+ Inc (Dec) in Other	48	11	-16	-24	-16	33	8	-32	226	-265	-135	34	156	123	149
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	249	237	236	472	451	451	189	315	1,016	784	1,073	1,038	1,201	1,834	1,759
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	1	1	6	- -	2	- -	1	11	4	21	25	3	2	13	5
+ Disp of Fixed Prod Assets	1	1	6	- -	2	- -	1	11	4	21	25	3	2	13	5
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-38	-36	-41	-48	-49	-50	-90	-93	-186	-136	-130	-149	-186	-207	-260
+ Acq of Fixed Prod Assets	-38	-36	-41	-48	-49	-50	-90	-93	-186	-136	-130	-149	-186	-207	-260
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	-26	-47	-33	-27	-388	-212	- -	- -	- -	-207	-300	-473	-409	-1,097	-223
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	-26	-47	-33	-27	-388	-212	- -	- -	- -	-207	-300	-473	-409	-1,097	-223
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	20
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	20
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-109	-150	-223	-300	-130	-183	-945	-51	-2,996	-40	-435	-89	-308	-149	-2,512
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	19	8
+ Cash for Acq of Subs	-109	-150	-223	-300	-130	-183	-945	-51	-2,996	-40	-435	-89	-308	-168	-2,520
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	-203	- -	- -	-14	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-146	-185	-259	-348	-380	-233	-1,034	-147	-3,178	-155	-540	-235	-492	-343	-2,747
+ Dividends Paid	-4	-8	-13	-19	-27	-32	-42	-46	-82	-93	-92	-111	-123	-140	-173
+ Net Cash From Debt	-26	-78	129	70	175	772	-53	2,027	558	-199	-161	-30	42	-64	1,484
+ Cash From Debt	257	233	959	563	787	1,875	1,217	3,481	3,982	3,878	5,391	6,087	5,563	2,258	4,708
+ Repayments of Debt	-283	-311	-830	-494	-613	-1,103	-1,270	-1,454	-3,424	-4,077	-5,552	-6,117	-5,521	-2,322	-3,224
+ Other Financing Activities	9	8	9	2	-11	-5	-2	-2	-15	-120	-100	-94	-143	-70	-57
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-47	-125	93	26	-251	523	-97	1,978	461	-619	-653	-708	-633	-1,371	1,031
Effect of Foreign Exchange Rates	-7	2	- -	-10	-19	-26	32	-37	-37	-15	-6	-27	3	-25	31
Net Changes in Cash	56	-72	70	150	-181	741	-942	2,146	-1,701	10	-120	95	76	120	43
EBITDA	316	436	489	588	672	526	524	583	982	1,130	1,317	1,437	1,743	2,068	2,250
EBITDA Margin (%)	16.04	18.25	19.03	19.33	20.32	17.96	13.51	13.35	11.98	14.96	16.84	17.18	18.01	19.91	20.15
Free Cash Flow	211	201	194	425	401	400	99	221	830	648	943	889	1,015	1,627	1,499
Net Cash Paid for Acquisitions	109	150	223	300	130	183	945	51	2,996	40	435	89	308	149	2,512
Free Cash Flow to Firm	221	211	205	437	413	438	157	310	990	795	1,079	1,029	1,180	1,779	1,666
Free Cash Flow to Equity	185	124	330	495	578	1,173	48	2,259	1,392	470	807	862	1,059	1,576	2,988
Free Cash Flow per Basic Share	2.2	2.11	2.04	4.43	4.18	4.43	1.04	2.31	4.87	3.41	5.02	4.88	5.68	9.35	8.79
Price/Free Cash Flow	11.8	15.49	25.97	16.19	13.79	15.11	28.13	16.61	11.48	15.15	14.4	15.37	16.42	16.24	18.09
Cash Flow to Net Income	1.46	0.94	0.81	1.34	1.13	1.48	0.72	1.07	3.11	1.89	1.92	1.64	1.47	1.74	1.5
Capital Expenditures	-38	-36	-41	-48	-49	-50	-90	-93	-186	-136	-130	-149	-186	-207	-260