This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.														Estimates	Estimates	Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Q2 2024
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/
Great-West Lifeco Inc					TSX:	GWO	OTC:	GWLIF	https://www.greatwestlifeco.com/			Fiscal Yr:	Dec 31
Year	12/31/11	12/31/12	12/31/13	12/31/14	12/31/15	12/31/16	12/31/17	12/31/18	12/31/19	12/31/20	12/31/21	12/31/22	12/31/23	12/31/24	12/31/25	12/31/26		Value	Description	#Y	Item	Total G
Accounting Rules	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Split Dates
Splits																					Splits
														$1,014,502	<-12 mths	-7.38%
Assets Under Management	$364,158	$364,158	$511,119	$572,980	$652,415	$659,127	$698,792	$709,353	$771,715	$951,433	$1,007,643	$1,033,189	$1,095,374					114.31%	<-Total Growth	10	Assets Under Mge	From Td
Increase		0.00%	40.36%	12.10%	13.86%	1.03%	6.02%	1.51%	8.79%	23.29%	5.91%	2.54%	6.02%					7.92%	<-IRR #YR->	10	Assets Under Mge	114.31%
5 year Running Average					$492,966	$551,960	$618,887	$658,533	$698,280	$758,084	$827,787	$894,667	$971,871					9.08%	<-IRR #YR->	5	Assets Under Mge	54.42%
AUM per Share	$0.02	$0.03	$0.03	$0.03	$0.03	$0.04	$0.04	$0.03	$0.04	$0.03	$0.04	$0.03	$0.05					7.81%	<-IRR #YR->	6	5 year Running Average	43.54%
Assets Under Management in Millions								AUM per Sh	10 yr	$0.03	5 yr	$0.03	$0.04					8.10%	<-IRR #YR->	5	5 year Running Average	64.87%
			-$511,119	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,095,374
								-$709,353	$0	$0	$0	$0	$1,095,374
							-$618,887	$0	$0	$0	$0	$0	$971,871
								-$658,533	$0	$0	$0	$0	$971,871
														$3,138,204	<-12 mths	10.01%
Assets Under Admin	$501,965	$545,771	$758,258	$1,063,333	$1,212,517	$1,248,418	$1,349,913	$1,398,873	$1,629,681	$1,975,847	$2,279,574	$2,497,712	$2,852,540					276.20%	<-Total Growth	10	Assets Under Mge	From Td
Increase		8.73%	38.93%	40.23%	14.03%	2.96%	8.13%	3.63%	16.50%	21.24%	15.37%	9.57%	14.21%					14.17%	<-IRR #YR->	10	Assets Under Mge	276.20%
5 year Running Average					$816,369	$965,659	$1,126,488	$1,254,611	$1,367,880	$1,520,546	$1,726,778	$1,956,337	$2,247,071					15.32%	<-IRR #YR->	5	Assets Under Mge	103.92%
Price /AUM Ratio	0.000041	0.000045	0.000043	0.000032	0.000028	0.000028	0.000026	0.000020	0.000020	0.000015	0.000017	0.000013	0.000015					12.20%	<-IRR #YR->	6	5 year Running Average	-64.40%
Assets Under Admint in Millions								P/AUM	10 yr	0.00	5 yr	0.00	0.00					12.36%	<-IRR #YR->	5	5 year Running Average	-23.67%
			-$758,258	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,852,540
								-$1,398,873	$0	$0	$0	$0	$2,852,540
							-$1,126,488	$0	$0	$0	$0	$0	$2,247,071
								-$1,254,611	$0	$0	$0	$0	$2,247,071
Group Life & Heath Book Premiums													$31,762
Total Net Premiums	$17,293	$18,820	$20,236	$21,222	$24,501	$31,125	$33,902	$35,461	$24,510	$43,019	$52,813	$52,821	$31,762	-$3,353	<-12 mths			56.96%	<-Total Growth	10	Group Life & Health Bk Prem
Investment Income.	$5,538	$5,653	$5,604	$6,010	$6,271	$6,252	$6,141	$6,358	$6,161	$5,963	$6,393	$8,146	$15,353	$22,919	<-12 mths			173.97%	<-Total Growth	10	Investment Income.
Fee and other Income	$2,903	$2,945	$3,585	$4,422	$5,058	$5,101	$5,608	$5,819	$7,081	$5,902	$7,294	$7,598	$5,874	$5,474	<-12 mths			63.85%	<-Total Growth	10	Fee and other Income
Total	$25,734	$27,418	$29,425	$31,654	$35,830	$42,478	$45,651	$47,638	$37,752	$54,884	$66,500	$68,565	$52,989	$25,040	<-12 mths			80.08%	<-Total Growth	10	Total
Change	-2.39%	6.54%	7.32%	7.58%	13.19%	18.55%	7.47%	4.35%	-20.75%	45.38%	21.16%	3.11%	-22.72%	-52.74%				7.52%	<-Median->	10	Change
Net Sales Mkt Scn									$44,698	$60,583	$64,417	$44,662	$41,629
Revenue*	$29,898	$30,061	$26,446	$39,181	$33,820	$46,381	$47,008	$44,032	$44,698	$60,583	$64,417	$44,662	$41,629	$67,688	$69,896	$72,272		57.41%	<-Total Growth	10	Revenue
Increase	-0.33%	0.55%	-12.03%	48.15%	-13.68%	37.14%	1.35%	-6.33%	1.51%	35.54%	6.33%	-30.67%	-6.79%	62.60%	3.26%	3.40%		4.64%	<-IRR #YR->	10	Revenue	57.41%
5 year Running Average	$30,058	$30,886	$29,389	$31,117	$31,881	$35,178	$38,567	$42,084	$43,188	$48,540	$52,148	$51,678	$51,198	$55,796	$57,658	$59,229		-1.12%	<-IRR #YR->	5	Revenue	-5.46%
Revenue per Share	$31.48	$31.62	$26.46	$39.31	$34.05	$47.02	$47.54	$44.58	$48.20	$65.29	$69.22	$47.93	$44.65	$72.62	$74.98	$77.53		5.71%	<-IRR #YR->	10	5 yr Running Average	74.21%
Increase	-0.47%	0.46%	-16.32%	48.56%	-13.39%	38.11%	1.11%	-6.24%	8.13%	35.45%	6.01%	-30.76%	-6.85%	62.65%	3.26%	3.40%		4.00%	<-IRR #YR->	5	5 yr Running Average	21.66%
5 year Running Average	$32.08	$32.60	$30.70	$32.10	$32.58	$35.69	$38.88	$42.50	$44.28	$50.53	$54.97	$55.04	$55.06	$59.94	$61.88	$63.54		5.37%	<-IRR #YR->	10	Revenue per Share	68.72%
P/S (Price/Sales) Med	0.75	0.71	1.09	0.80	1.01	0.72	0.75	0.70	0.64	0.42	0.50	0.73	0.85	0.58	0.00	0.00		0.03%	<-IRR #YR->	5	Revenue per Share	0.15%
P/S (Price/Sales) Close	0.65	0.77	1.24	0.85	1.01	0.75	0.74	0.63	0.69	0.46	0.55	0.65	0.98	0.63	0.61	0.59		6.01%	<-IRR #YR->	10	5 yr Running Average	79.33%
*Total Revenue in M CDN $					P/S Med	20 yr	0.75	15 yr	0.73	10 yr	0.73	5 yr	0.64		-13.58%	Diff M/C		5.31%	<-IRR #YR->	5	5 yr Running Average	29.55%
			-$26,446	$0	$0	$0	$0	$0	$0	$0	$0	$0	$41,629
								-$44,032	$0	$0	$0	$0	$41,629
			-$29,389	$0	$0	$0	$0	$0	$0	$0	$0	$0	$51,198
								-$42,084	$0	$0	$0	$0	$51,198
			-$26.46	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$44.65
								-$44.58	$0.00	$0.00	$0.00	$0.00	$44.65
			-$30.70	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$55.06
								-$42.50	$0.00	$0.00	$0.00	$0.00	$55.06
														$3,937	<-12 mths	7.36%
														$4.22	<-12 mths	7.38%
Adjusted Profit CDN$	$2,239	$2,208	$2,498	$2,761	$3,011	$2,685	$2,647	$3,017	$2,704	$2,669	$3,260	$3,219	$3,667					46.80%	<-Total Growth	10	Adjusted Profit CDN$
Basic	$2.13	$1.90	$2.34	$2.55	$2.77	$2.71	$2.68	$3.05	$2.86	$2.88	$3.51	$3.46	$3.94					68.38%	<-Total Growth	10	AEPS	WebBroker
AEPS* Dilued	$2.11	$1.89	$2.30	$2.55	$2.77	$2.71	$2.67	$3.05	$2.86	$2.88	$3.50	$3.45	$3.93	$4.35	$4.53	$4.66		71.01%	<-Total Growth	10	AEPS	Estimates
Increase	20.96%	-10.51%	21.53%	10.84%	8.72%	-2.18%	-1.32%	14.16%	-6.34%	0.74%	21.68%	-1.43%	13.79%	10.74%	4.14%	2.87%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$1.88	$1.80	$1.95	$2.12	$2.32	$2.44	$2.60	$2.75	$2.81	$2.83	$2.99	$3.15	$3.32	$3.62	$3.95	$4.18		5.51%	<-IRR #YR->	10	AEPS	71.01%
AEPS Yield	10.35%	7.76%	7.01%	7.58%	8.02%	7.70%	7.61%	10.82%	8.59%	9.48%	9.23%	11.03%	8.96%	9.53%	9.92%	10.21%		5.19%	<-IRR #YR->	5	AEPS	28.78%
Payout Ratio	58.24%	65.08%	53.55%	48.31%	47.11%	51.12%	54.94%	51.01%	57.82%	60.88%	51.51%	56.78%	52.95%	51.03%	49.01%	47.64%		5.46%	<-IRR #YR->	10	5 yr Running Average	70.19%
5 year Running Average	64.77%	68.52%	63.77%	59.12%	54.46%	53.03%	51.01%	50.50%	52.40%	55.15%	55.23%	55.60%	55.99%	54.63%	52.26%	51.48%		3.87%	<-IRR #YR->	5	5 yr Running Average	20.91%
Price/AEPS Median	11.13	11.86	12.53	12.34	12.43	12.58	13.30	10.26	10.81	9.46	9.82	10.14	9.61	9.67	0.00	0.00		10.54	<-Median->	10	Price/AEPS Median
Price/AEPS High	13.15	13.23	14.51	13.30	13.55	13.68	14.13	11.64	11.97	12.27	11.31	11.98	11.19	10.42	0.00	0.00		12.12	<-Median->	10	Price/AEPS High
Price/AEPS Low	9.11	10.49	10.54	11.37	11.31	11.49	12.47	8.88	9.66	6.66	8.34	8.30	8.02	8.93	0.00	0.00		9.27	<-Median->	10	Price/AEPS Low
Price/AEPS Close	9.66	12.88	14.26	13.19	12.47	12.99	13.14	9.24	11.64	10.55	10.84	9.07	11.17	10.49	10.08	9.80		11.40	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	11.68	11.53	17.33	14.62	13.56	12.71	12.96	10.55	10.90	10.62	13.19	8.94	12.71	11.62	10.49	10.08		12.71	<-Median->	10	Trailing P/AEPS Close
Median Values		DPR	10 Yrs	52.23%	5 Yrs	56.78%	P/CF	5 Yrs	in order	9.82	11.97	8.30	10.84		6.83%	Diff M/C					DPR 75% to 95% best
* Base EPS, Base Earnings
			-$2.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.93
								-$3.05	$0.00	$0.00	$0.00	$0.00	$3.93
			-$1.95	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.32
								-$2.75	$0.00	$0.00	$0.00	$0.00	$3.32
														$3.42	<-12 mths	16.62%
pre-split 04
EPS Basic	$2.13	$1.90	$2.34	$2.55	$2.77	$2.67	$2.17	$3.00	$2.49	$3.17	$3.37	$3.46	$2.94					25.64%	<-Total Growth	10	EPS Basic
pre-split 04
EPS Diluted*	$2.11	$1.89	$2.30	$2.55	$2.77	$2.66	$2.17	$2.99	$2.49	$3.17	$3.36	$3.45	$2.93	$4.28	$4.44	$4.58		27.56%	<-Total Growth	10	EPS Diluted
Increase	20.96%	-10.51%	21.53%	10.84%	8.72%	-3.79%	-18.51%	37.97%	-16.73%	27.28%	5.89%	2.68%	-15.07%	46.21%	3.62%			10	0	10	Years of Data, EPS P or N
Earnings Yield	10.4%	7.8%	7.0%	7.6%	8.0%	7.6%	6.2%	10.6%	7.5%	10.5%	8.9%	11.0%	6.7%	9.4%	9.7%			2.46%	<-IRR #YR->	10	Earnings	27.56%
5 year Running Average	$1.88	$1.80	$1.95	$2.12	$2.32	$2.43	$2.49	$2.63	$2.62	$2.70	$2.84	$3.09	$3.08	$3.44	$3.69			-0.43%	<-IRR #YR->	5	Earnings	-2.14%
10 year Running Average	$1.79	$1.86	$1.94	$2.02	$2.10	$2.16	$2.15	$2.29	$2.37	$2.51	$2.64	$2.79	$2.85	$3.03	$3.20			4.67%	<-IRR #YR->	10	5 yr Running Average	57.78%
* Diluted ESP per share									E/P	10 Yrs	7.80%	5Yrs	8.85%					3.23%	<-IRR #YR->	5	5 yr Running Average	17.24%
			-$2.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.93
								-$2.99	$0.00	$0.00	$0.00	$0.00	$2.93
			-$1.95	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.08
								-$2.63	$0.00	$0.00	$0.00	$0.00	$3.08
Dividend*														$2.23	$2.34	$2.46					Dividend*
Increase														6.97%	5.26%	5.17%					Increase
Payout Ratio EPS														51.94%	52.76%	53.79%			Estimates		Payout Ratio EPS
Special Dividends	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends
pre-split 96
pre-split 98
pre-split 04
Dividend*	$1.230	$1.230	$1.230	$1.230	$1.304	$1.384	$1.468	$1.556	$1.652	$1.7520	$1.8040	$1.9600	$2.0800	$2.2200	$2.2200	$2.2200		69.11%	<-Total Growth	10	Dividends
Increase	0.00%	0.00%	0.00%	0.00%	6.02%	6.13%	6.07%	5.99%	6.17%	6.05%	2.97%	8.65%	6.12%	6.73%	0.00%	0.00%		25	0	35	Years of data, Count P, N
Average Increases 5 Year Running	6.00%	3.14%	0.50%	0.00%	1.20%	2.43%	3.64%	4.84%	6.08%	6.08%	5.45%	5.97%	5.99%	6.10%	4.89%	4.30%		5.15%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$1.19	$1.22	$1.23	$1.23	$1.24	$1.28	$1.32	$1.39	$1.47	$1.56	$1.65	$1.74	$1.85	$1.96	$2.06	$2.14		50.37%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	5.23%	5.49%	4.28%	3.92%	3.79%	4.06%	4.13%	4.97%	5.35%	6.43%	5.24%	5.60%	5.51%	5.28%				5.11%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	4.43%	4.92%	3.69%	3.63%	3.48%	3.74%	3.89%	4.38%	4.83%	4.96%	4.56%	4.74%	4.73%	4.90%				4.47%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	6.39%	6.21%	5.08%	4.25%	4.16%	4.45%	4.41%	5.74%	5.99%	9.14%	6.18%	6.84%	6.60%	5.72%				5.86%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	6.03%	5.05%	3.76%	3.66%	3.78%	3.94%	4.18%	5.52%	4.97%	5.77%	4.75%	6.26%	4.74%	4.86%	4.86%	4.86%		4.75%	<-Median->	10	Yield on Close Price	CFPS
Payout Ratio EPS	58.24%	65.08%	53.55%	48.31%	47.11%	51.97%	67.65%	51.97%	66.27%	55.22%	53.69%	56.81%	70.99%	51.82%	50.01%	48.48%		54.45%	<-Median->	10	DPR EPS	FCF
DPR EPS 5 Yr Running	63.18%	67.85%	62.99%	58.07%	53.60%	52.43%	53.17%	52.83%	56.27%	57.90%	58.01%	56.39%	60.03%	57.08%	55.70%	#DIV/0!		56.33%	<-Median->	10	DPR EPS 5 Yr Running
Payout Ratio CFPS	24.12%	24.76%	24.46%	22.52%	25.28%	21.83%	21.48%	23.67%	25.07%	16.92%	16.18%	25.92%	37.28%	36.88%	#VALUE!	#DIV/0!		23.10%	<-Median->	10	DPR CF
DPR CF 5 Yr Running	25.14%	25.02%	24.22%	23.06%	24.20%	23.66%	22.95%	22.86%	23.38%	21.29%	19.84%	20.66%	22.43%	24.14%	#VALUE!	#DIV/0!		22.91%	<-Median->	10	DPR CF 5 Yr Running
Payout Ratio CFPS WC	43.20%	45.39%	44.20%	36.17%	23.63%	-247.76%	114.83%	21.74%	-37.68%	-61.88%	28.22%	6.60%	-54.25%	36.88%	#VALUE!	#DIV/0!		14.17%	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running	43.04%	49.99%	72.29%	45.30%	36.07%	46.04%	53.27%	41.34%	81.75%	1184.67%	108.15%	24.21%	36.94%	27.70%	#VALUE!	#DIV/0!		45.67%	<-Median->	10	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	5.11%	4.75%	5 Yr Med	5 Yr Cl	5.51%	4.97%	5 Yr Med	Payout	56.81%	25.07%	-37.68%					5.98%	<-IRR #YR->	5	Dividends	33.68%
* Dividends per share	10 Yr Med	and Cur.	-4.78%	2.44%	5 Yr Med	and Cur.	-11.77%	-2.09%	Last Div Inc --->		$0.520	$0.555	6.73%					5.39%	<-IRR #YR->	10	Dividends	69.11%
Dividends Growth 15																		3.74%	<-IRR #YR->	15	Dividends	73.33%
Dividends Growth 20																		6.76%	<-IRR #YR->	20	Dividends	269.78%
Dividends Growth 25																		9.40%	<-IRR #YR->	25	Dividends	845.45%
Dividends Growth 30																		12.39%	<-IRR #YR->	30	Dividends	3228.00%
Dividends Growth 35																		10.53%	<-IRR #YR->	35	Dividends
Dividends Growth 5								-$1.56	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 5
Dividends Growth 10			-$1.23	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 10
Dividends Growth 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 15
Dividends Growth 20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 20
Dividends Growth 25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 25
Dividends Growth 30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 30
Dividends Growth 35	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.08								Dividends Growth 35
Historical Dividends	Historical	High Div	6.93%	Low Div	1.86%	10 Yr High	8.91%	10 Yr Low	3.49%	Med Div	3.80%	Close Div	3.64%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-29.83%		161.46%	Exp.	-45.42%		39.34%	Cheap	27.98%	Cheap	33.75%								High/Ave/Median
Future Dividend Yield					Div Yield	6.50%	earning in	5	Years	at IRR of	5.98%	Div Inc.	33.68%								Future Dividend Yield	Div Pd
Future Dividend Yield					Div Yield	8.69%	earning in	10	Years	at IRR of	5.98%	Div Inc.	78.69%								Future Dividend Yield	$2.97
Future Dividend Yield					Div Yield	11.62%	earning in	15	Years	at IRR of	5.98%	Div Inc.	138.87%								Future Dividend Yield	$3.97
																						$5.30
Future Dividend Paid					Div Paid	$2.97	earning in	5	Years	at IRR of	5.98%	Div Inc.	33.68%								Future Dividend Paid
Future Dividend Paid					Div Paid	$3.97	earning in	10	Years	at IRR of	5.98%	Div Inc.	78.69%								Future Dividend Paid
Future Dividend Paid					Div Paid	$5.30	earning in	15	Years	at IRR of	5.98%	Div Inc.	138.87%								Future Dividend Paid
Dividend Covering Cost					Total Div	$12.51	over	5	Years	at IRR of	5.98%	Div Cov.	117.39%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$26.26	over	10	Years	at IRR of	5.98%	Div Cov.	246.45%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$44.65	over	15	Years	at IRR of	5.98%	Div Cov.	418.99%								Dividend Covering Cost
Yield if held 5 years - High	3.58%	3.29%	3.49%	4.57%	4.47%	4.98%	5.87%	4.67%	4.88%	4.67%	4.87%	5.19%	5.86%	6.49%	6.29%	5.61%		4.87%	<-Median->	10	Paid High Price	Year
Yield if held 10 years - High	6.31%	7.37%	5.87%	4.61%	4.27%	4.02%	3.93%	4.41%	6.14%	6.01%	6.50%	7.84%	6.24%	6.55%	5.92%	6.00%		5.31%	<-Median->	10	Paid High Price	2017
Yield if held 15 years - High	21.50%	12.62%	9.07%	8.20%	7.05%	7.10%	8.80%	7.43%	6.19%	5.73%	5.25%	5.25%	5.89%	8.25%	7.61%	7.99%		6.62%	<-Median->	10	Paid High Price	2012
Yield if held 20 years - High	59.64%	65.04%	42.71%	38.56%	36.27%	24.20%	15.06%	11.47%	11.01%	9.47%	9.25%	11.75%	9.93%	8.32%	7.27%	6.46%		11.61%	<-Median->	10	Paid High Price	2007
Yield if held 25 years - High			72.89%	57.88%	60.48%	67.10%	77.62%	54.03%	51.79%	48.73%	31.54%	20.10%	15.33%	14.80%	12.00%	11.38%		52.91%	<-Median->	10	Paid High Price	2002
Yield if held 30 years - High								92.21%	77.74%	81.25%	87.47%	103.64%	72.22%	69.59%	61.75%	38.81%		84.36%	<-Median->	6	Paid High Price	1997
Yield if held 35 years - High													123.26%	104.47%	102.96%	107.64%		123.26%	<-Median->	1	Paid High Price	1992
Yield if held 5 years - Low	4.51%	3.78%	6.31%	8.01%	5.50%	7.19%	7.41%	6.43%	5.71%	5.60%	5.80%	5.88%	7.68%	8.05%	11.59%	7.60%		6.16%	<-Median->	10	Paid Low Price
Yield if held 10 years - Low	7.95%	7.56%	7.00%	5.53%	4.87%	5.08%	4.52%	7.98%	10.76%	7.38%	9.37%	9.89%	8.60%	7.67%	7.09%	7.14%		7.68%	<-Median->	10	Paid Low Price
Yield if held 15 years - Low	34.21%	24.65%	14.69%	13.52%	15.56%	8.94%	9.03%	8.85%	7.42%	6.54%	6.62%	6.03%	10.67%	14.46%	9.36%	11.53%		8.90%	<-Median->	10	Paid Low Price
Yield if held 20 years - Low	82.97%	75.69%	67.96%	51.14%	48.21%	38.50%	29.42%	18.58%	18.15%	20.91%	11.65%	12.05%	11.83%	9.98%	8.28%	8.15%		19.74%	<-Median->	10	Paid Low Price
Yield if held 25 years - Low			85.57%	82.00%	149.03%	93.36%	90.34%	85.97%	68.69%	64.77%	50.18%	39.28%	24.84%	24.40%	26.49%	14.34%		75.35%	<-Median->	10	Paid Low Price
Yield if held 30 years - Low								108.24%	110.13%	200.23%	121.69%	120.62%	114.92%	92.31%	82.07%	61.75%		117.77%	<-Median->	6	Paid Low Price
Yield if held 35 years - Low													144.70%	148.00%	253.71%	149.75%		144.70%	<-Median->	1	Paid High Price
Yield if held 5 years	3.99%	3.52%	4.49%	5.82%	4.93%	5.89%	6.55%	5.41%	5.26%	5.09%	5.29%	5.52%	6.64%	7.19%	8.15%	6.45%		5.46%	<-Median->	10	Paid Median Price
Yield if held 10 years	7.03%	7.47%	6.38%	5.03%	4.55%	4.49%	4.20%	5.68%	7.82%	6.62%	7.67%	8.75%	7.23%	7.07%	6.45%	6.52%		6.15%	<-Median->	10	Paid Median Price
Yield if held 15 years	26.41%	16.69%	11.21%	10.21%	9.70%	7.91%	8.91%	8.08%	6.75%	6.11%	5.85%	5.61%	7.59%	10.51%	8.39%	9.44%		7.75%	<-Median->	10	Paid Median Price
Yield if held 20 years	69.39%	69.96%	52.45%	43.97%	41.40%	29.72%	19.92%	14.18%	13.71%	13.04%	10.31%	11.90%	10.80%	9.08%	7.74%	7.20%		13.95%	<-Median->	10	Paid Median Price
Yield if held 25 years			78.72%	67.86%	86.04%	78.08%	83.50%	66.35%	59.05%	55.62%	38.73%	26.59%	18.96%	18.42%	16.52%	12.69%		62.70%	<-Median->	10	Paid Median Price
Yield if held 30 years								99.58%	91.14%	115.60%	101.78%	111.48%	88.70%	79.36%	70.48%	47.67%		100.68%	<-Median->	5	Paid Median Price
Yield if held 35 years													133.12%	122.48%	146.47%	125.25%		133.12%	<-Median->	1	Paid High Price
Cost covered if held 5 years - High	17.30%	16.38%	17.43%	22.86%	21.34%	22.97%	26.46%	20.82%	21.74%	20.82%	22.23%	23.12%	26.04%	28.70%	29.13%	27.02%		22.55%	<-Median->	10	Paid High Price	Year
Cost covered if held 10 years - High	48.24%	60.94%	51.71%	42.66%	38.86%	35.85%	34.09%	37.10%	50.24%	48.12%	52.61%	61.36%	48.56%	50.72%	48.23%	51.13%		45.39%	<-Median->	10	Paid High Price	2017
Cost coveedr if held 15 years - High	188.68%	121.41%	94.71%	92.08%	79.95%	80.95%	100.61%	84.84%	70.27%	64.43%	59.78%	57.44%	63.30%	86.73%	83.37%	91.14%		75.11%	<-Median->	10	Paid High Price	2012
Cost covered if held 20 years - High	5.69%	10.87%	8.72%	6.94%	5.41%	4.17%	3.35%	145.89%	2.35%	122.18%	123.17%	152.91%	128.99%	107.08%	98.09%	90.90%		64.56%	<-Median->	10	Paid High Price	2007
Cost covered if held 25 years - High			825.63%	710.59%	757.87%	856.39%	1008.25%	713.96%	693.23%	660.53%	444.10%	278.74%	214.06%	206.62%	177.77%	178.04%		701.91%	<-Median->	10	Paid High Price	2002
Cost covered if held 30 years - High								1237.01%	1057.13%	1120.16%	1255.52%	1469.53%	1035.07%	1000.94%	946.59%	631.16%		1178.58%	<-Median->	6	Paid Low Price	1997
Cost covered if held 35 years - High													1785.04%	1519.06%	1597.10%	1774.30%		1785.04%	<-Median->	1	Paid Low Price	1992
Cost covered if held 5 years - Low	21.83%	18.83%	31.55%	40.07%	26.23%	33.13%	33.38%	28.69%	25.44%	24.95%	26.46%	26.18%	34.13%	35.58%	53.67%	36.64%		27.57%	<-Median->	10	Paid Low Price
Cost covered if held 10 years - Low	60.77%	62.52%	61.62%	51.13%	44.30%	45.24%	39.19%	67.17%	88.04%	59.15%	75.90%	77.40%	66.90%	59.34%	57.80%	60.86%		63.02%	<-Median->	10	Paid Low Price
Cost coveedr if held 15 years - Low	300.21%	237.22%	153.40%	151.79%	176.51%	101.97%	103.20%	101.11%	84.23%	73.45%	75.45%	66.03%	114.62%	151.99%	102.49%	131.48%		101.54%	<-Median->	10	Paid Low Price
Cost covered if held 20 years - Low	761.21%	766.31%	752.49%	613.31%	589.06%	477.62%	369.81%	236.29%	232.71%	269.73%	155.15%	156.86%	153.71%	128.35%	111.82%	114.72%		253.01%	<-Median->	10	Paid Low Price
Cost covered if held 25 years - Low			969.22%	1006.67%	1867.60%	1191.43%	1173.45%	1136.02%	919.50%	877.86%	706.61%	544.64%	346.72%	340.58%	392.45%	224.27%		963.08%	<-Median->	10	Paid Low Price
Cost covered if held 30 years - Low								1452.14%	1497.60%	2760.40%	1746.71%	1710.31%	1646.96%	1327.65%	1258.04%	1004.24%		1678.63%	<-Median->	6	Paid Low Price
Cost covered if held 35 years - Low													2095.48%	2152.00%	3935.71%	2468.47%		2095.48%	<-Median->	1	Paid Low Price
Cost covered if held 5 years	19.31%	17.52%	22.45%	29.11%	23.53%	27.13%	29.52%	24.13%	23.44%	22.70%	24.16%	24.55%	29.54%	31.77%	37.77%	31.10%		24.36%	<-Median->	10	Paid Median Price
Cost covered if held 10 years	53.79%	61.72%	56.23%	46.51%	41.40%	40.00%	36.46%	47.80%	63.97%	53.07%	62.14%	68.45%	56.27%	54.70%	52.58%	55.57%		50.43%	<-Median->	10	Paid Median Price
Cost coveedr if held 15 years	231.72%	160.62%	117.11%	114.63%	110.06%	90.25%	101.89%	92.26%	76.62%	68.64%	66.71%	61.44%	81.56%	110.44%	91.95%	107.66%		85.91%	<-Median->	10	Paid Median Price
Cost covered if held 20 years	636.67%	708.28%	580.81%	527.26%	505.84%	368.66%	250.39%	180.40%	175.74%	168.18%	137.32%	154.86%	140.27%	116.75%	104.51%	101.43%		178.07%	<-Median->	10	Paid Median Price
Cost covered if held 25 years			891.68%	833.10%	1078.20%	996.50%	1084.59%	876.84%	790.49%	753.84%	545.41%	368.76%	264.70%	257.20%	244.70%	198.50%		811.80%	<-Median->	10	Paid Median Price
Cost covered if held 30 years								1335.97%	1239.39%	1593.63%	1460.93%	1580.80%	1271.22%	1141.38%	1080.32%	775.15%		1398.45%	<-Median->	6	Paid Median Price
Cost covered if held 35 years													1927.84%	1780.97%	2272.16%	2064.60%		1927.84%	<-Median->	1	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$44,032	$44,698	$60,583	$64,417	$44,662	$41,629	$0	<-12 mths	-100.00%		-5.46%	<-Total Growth	5	Revenue Growth	-5.46%
AEPS Growth								$3.05	$2.86	$2.88	$3.50	$3.45	$3.93	$4.22	<-12 mths	7.38%		28.78%	<-Total Growth	5	AEPS Growth	28.78%
Net Income Growth								$2,847	$2,359	$2,943	$3,128	$3,219	$2,738	$3,610	<-12 mths	31.85%		-3.83%	<-Total Growth	5	Net Income Growth	-3.83%
Cash Flow Growth								$6,494	$6,110	$9,610	$10,373	$7,047	$5,203	$5,612	<-12 mths	7.86%		-19.88%	<-Total Growth	5	Cash Flow Growth	-19.88%
Dividend Growth								$1.56	$1.65	$1.75	$1.80	$1.96	$2.08	$2.22	<-12 mths	6.73%		33.68%	<-Total Growth	5	Dividend Growth	33.68%
Stock Price Growth								$28.18	$33.26	$30.35	$37.96	$31.30	$43.86	$45.65	<-12 mths	4.08%		55.64%	<-Total Growth	5	Stock Price Growth	55.64%
Revenue Growth			$26,446	$39,181	$33,820	$46,381	$47,008	$44,032	$44,698	$60,583	$64,417	$44,662	$41,629	$67,688	<-this year	62.60%		57.41%	<-Total Growth	10	Revenue Growth	57.41%
AEPS Growth			$2.30	$2.55	$2.77	$2.71	$2.67	$3.05	$2.86	$2.88	$3.50	$3.45	$3.93	$4.35	<-this year	10.74%		71.01%	<-Total Growth	10	AEPS Growth	71.01%
Net Income Growth			$2,278	$2,546	$2,762	$2,326	$1,990	$2,847	$2,359	$2,943	$3,128	$3,219	$2,738	$3,983	<-this year	45.47%		20.19%	<-Total Growth	10	Net Income Growth	20.19%
Cash Flow Growth			$5,026	$5,443	$5,123	$6,254	$6,757	$6,494	$6,110	$9,610	$10,373	$7,047	$5,203	$5,612	<-this year	7.86%		3.52%	<-Total Growth	10	Cash Flow Growth	3.52%
Dividend Growth			$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$2.08	$2.23	<-this year	6.97%		69.11%	<-Total Growth	10	Dividend Growth	69.11%
Stock Price Growth			$32.75	$33.59	$34.53	$35.17	$35.10	$28.18	$33.26	$30.35	$37.96	$31.30	$43.86	$44.09	<-this year	0.52%		33.92%	<-Total Growth	10	Stock Price Growth	33.92%
Dividends on Shares	$428.04	$428.04	$428.04	$428.04	$453.79	$481.63	$510.86	$541.49	$574.90	$609.70	$627.79	$682.08	$723.84	$772.56	$772.56	$772.56		$10,373.88	No of Years	30	Total Divs	12/31/93
Paid	$7,099.20	$8,473.80	$11,397.00	$11,689.32	$12,016.44	$12,239.16	$12,214.80	$9,806.64	$11,574.48	$10,561.80	$13,210.08	$10,892.40	$15,263.28	$15,886.20	$15,886.20	$15,886.20		$15,263.28	No of Years	30	Worth	$2.88
Total																		$25,637.16			Total Return
Dividends on Shares	$60.27	$60.27	$60.27	$60.27	$63.90	$67.82	$71.93	$76.24	$80.95	$85.85	$88.40	$96.04	$101.92	$108.78	$108.78	$108.78		$1,094.66	No of Years	15	Total Divs	12/31/08
Paid	$999.60	$1,193.15	$1,604.75	$1,645.91	$1,691.97	$1,723.33	$1,719.90	$1,380.82	$1,629.74	$1,487.15	$1,860.04	$1,533.70	$2,149.14	$2,236.85	$2,236.85	$2,236.85		$2,149.14	No of Years	15	Worth	$20.70
Total																		$3,243.80			Total Return
Dividends on Shares				$38.13	$40.42	$42.90	$45.51	$48.24	$51.21	$54.31	$55.92	$60.76	$64.48	$68.82	$68.82	$68.82		$501.89	No of Years	10	Total Divs	12/31/13
Paid			$1,015.25	$1,041.29	$1,070.43	$1,090.27	$1,088.10	$873.58	$1,031.06	$940.85	$1,176.76	$970.30	$1,359.66	$1,415.15	$1,415.15	$1,415.15		$1,359.66	No of Years	10	Worth	$32.75
Total																		$1,861.55			Total Return
Graham No. AEPS	$24.48	$23.68	$28.15	$31.02	$35.36	$34.69	$34.77	$38.93	$37.20	$38.57	$42.63	$43.99	$44.44	$51.37	$52.43	$53.17		57.87%	<-Total Growth	10	Graham Price AEPS
Price/GP Ratio Med	0.96	0.95	1.02	1.01	0.97	0.98	1.02	0.80	0.83	0.71	0.81	0.80	0.85	0.82				0.84	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.13	1.06	1.18	1.09	1.06	1.07	1.09	0.91	0.92	0.92	0.93	0.94	0.99	0.88				0.96	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	0.79	0.84	0.86	0.93	0.89	0.90	0.96	0.70	0.74	0.50	0.68	0.65	0.71	0.76				0.73	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	0.83	1.03	1.16	1.08	0.98	1.01	1.01	0.72	0.89	0.79	0.89	0.71	0.99	0.89	0.87	0.86		0.94	<-Median->	10	Price/GP Ratio
Prem/Disc Close	-16.68%	2.84%	16.34%	8.29%	-2.34%	1.38%	0.94%	-27.61%	-10.59%	-21.31%	-10.96%	-28.85%	-1.31%	-11.14%	-12.93%	-14.15%		-6.47%	<-Median->	10	Graham Price
Graham No. EPS	$24.48	$23.68	$28.15	$31.02	$35.36	$34.41	$31.34	$38.57	$34.75	$40.50	$41.76	$43.98	$38.38	$50.98	$51.90	$52.71		36.35%	<-Total Growth	10	Graham Price EPS
Price/GP Ratio Med	0.96	0.95	1.02	1.01	0.97	0.99	1.13	0.81	0.89	0.67	0.82	0.80	0.98	0.83				0.93	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.13	1.06	1.18	1.09	1.06	1.08	1.20	0.92	0.98	0.87	0.95	0.94	1.15	0.89				1.02	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	0.79	0.84	0.86	0.93	0.89	0.90	1.06	0.70	0.79	0.47	0.70	0.65	0.82	0.76				0.81	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	0.83	1.03	1.16	1.08	0.98	1.02	1.12	0.73	0.96	0.75	0.91	0.71	1.14	0.90	0.88	0.87		0.97	<-Median->	10	Price/GP Ratio
Prem/Disc Close	-16.68%	2.84%	16.34%	8.29%	-2.34%	2.22%	12.01%	-26.93%	-4.29%	-25.06%	-9.10%	-28.83%	14.27%	-10.46%	-12.04%	-13.39%		-3.32%	<-Median->	10	Graham Price
pre-split 04
Price Close CDN$	$20.40	$24.35	$32.75	$33.59	$34.53	$35.17	$35.10	$28.18	$33.26	$30.35	$37.96	$31.30	$43.86	$45.65	$45.65	$45.65		33.92%	<-Total Growth	10	Stock Price
Increase	-22.73%	19.36%	34.50%	2.56%	2.80%	1.85%	-0.20%	-19.72%	18.03%	-8.75%	25.07%	-17.54%	40.13%	4.08%	0.00%	0.00%		12.90	<-Median->	10	CAPE (10 Yr P/E)
P/E	9.66	12.88	14.26	13.19	12.47	13.21	16.18	9.41	13.34	9.57	11.30	9.07	14.97	10.66	10.28	9.97		9.25%	<-IRR #YR->	5	Stock Price	55.64%
Trailing P/E	11.68	11.53	17.33	14.62	13.56	12.71	13.18	12.99	11.11	12.17	11.96	9.32	12.71	15.58	10.66	10.28		2.96%	<-IRR #YR->	10	Stock Price	33.92%
CAPE (10 Yr P/E)	14.66	14.43	14.33	14.13	13.76	13.45	13.50	12.98	12.83	12.26	12.34	11.90	12.03	11.73	11.47	#DIV/0!		14.75%	<-IRR #YR->	5	Price & Dividend	88.46%
Median 10, 5 Yrs		D.  per yr	4.25%	5.50%	% Tot Ret	58.91%	37.30%	T P/E	12.71	11.96	P/E:	12.83	11.30		-13.82%	Diff M/C		7.21%	<-IRR #YR->	10	Price & Dividend	83.36%
Price 15		D.  per yr	5.04%		% Tot Ret	49.56%						CAPE Diff	-17.42%					5.13%	<-IRR #YR->	15	Stock Price	111.88%
Price  20		D.  per yr	4.17%		% Tot Ret	55.31%												3.37%	<-IRR #YR->	20	Stock Price	93.90%
Price  25		D.  per yr	4.34%		% Tot Ret	46.56%												4.98%	<-IRR #YR->	25	Stock Price	237.38%
Price  30		D.  per yr	6.96%		% Tot Ret	42.27%												9.50%	<-IRR #YR->	30	Stock Price	1422.92%
Price  35		D.  per yr	6.54%		% Tot Ret	39.23%												10.12%	<-IRR #YR->	35	Stock Price
Price & Dividend 15																		10.18%	<-IRR #YR->	15	Price & Dividend	219.81%
Price & Dividend 20																		7.53%	<-IRR #YR->	20	Price & Dividend	213.36%
Price & Dividend 25																		9.33%	<-IRR #YR->	25	Price & Dividend	460.75%
Price & Dividend 30																		16.46%	<-IRR #YR->	30	Price & Dividend	2684.11%
Price & Dividend 35																		16.66%	<-IRR #YR->	35	Price & Dividend
Price  5								-$28.18	$0.00	$0.00	$0.00	$0.00	$43.86								Price  5
Price 10			-$32.75	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price 10
Price & Dividend 5								-$28.18	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 5
Price & Dividend 10			-$32.75	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 10
Price 15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price 15
Price  20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price  20
Price  25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price  25
Price  30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price  30
Price  35	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.86								Price  35
Price & Dividend 15	$1.23	$1.23	$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 15
Price & Dividend 20	$1.23	$1.23	$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 20
Price & Dividend 25	$1.23	$1.23	$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 25
Price & Dividend 30	$1.23	$1.23	$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 30
Price & Dividend 35	$1.23	$1.23	$1.23	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$45.94								Price & Dividend 35
Price H/L Median	$23.51	$22.41	$28.77	$31.41	$34.42	$34.07	$35.53	$31.31	$30.90	$27.23	$34.40	$35.01	$37.74	$42.08				31.16%	<-Total Growth	10	Stock Price
Increase	-11.12%	-4.68%	28.38%	9.18%	9.57%	-1.00%	4.29%	-11.89%	-1.31%	-11.86%	26.33%	1.76%	7.80%	11.51%				2.75%	<-IRR #YR->	10	Stock Price	31.16%
P/E	11.13	11.86	12.53	12.34	12.43	12.79	16.37	10.46	12.39	8.58	10.24	10.15	12.88	9.82				3.81%	<-IRR #YR->	5	Stock Price	20.54%
Trailing P/E	13.47	10.61	15.22	13.67	13.52	12.31	13.34	14.43	10.32	10.92	10.84	10.42	10.94	14.36				7.62%	<-IRR #YR->	10	Price & Dividend
P/E on Run. 5 yr Ave	12.48	12.42	14.73	14.83	14.82	14.00	14.28	11.91	11.80	10.09	12.12	11.31	12.25	12.23				9.26%	<-IRR #YR->	5	Price & Dividend
P/E on Run. 10 yr Ave	13.11	12.07	14.82	15.57	16.38	15.79	16.55	13.67	13.05	10.85	13.05	12.54	13.22	13.89				12.41	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	4.88%	5.46%	% Tot Ret	63.94%	58.90%	T P/E	11.62	10.84	P/E:	12.36	10.24						Count	35	Years of data
			-$28.77	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$37.74
								-$31.31	$0.00	$0.00	$0.00	$0.00	$37.74
			-$28.77	$1.23	$1.30	$1.38	$1.47	$1.56	$1.65	$1.75	$1.80	$1.96	$39.82
								-$31.31	$1.65	$1.75	$1.80	$1.96	$39.82
High Months	Feb	Apr	Nov	Nov	Jun	Apr	Mar	Jan	Apr	Feb	Aug	Feb	Dec	Aug
pre-split 96
pre-split 98
pre-split 04
Price High	$27.77	$25.00	$33.34	$33.87	$37.52	$37.03	$37.74	$35.51	$34.20	$35.30	$39.60	$41.35	$43.95	$45.32				31.82%	<-Total Growth	10	Stock Price
Increase	-4.80%	-9.97%	33.36%	1.59%	10.78%	-1.31%	1.92%	-5.91%	-3.69%	3.22%	12.18%	4.42%	6.29%	3.12%				2.80%	<-IRR #YR->	10	Stock Price	31.82%
P/E	13.15	13.23	14.51	13.30	13.55	13.91	17.39	11.86	13.72	11.13	11.79	11.99	15.00	10.58				4.36%	<-IRR #YR->	5	Stock Price	23.77%
Trailing P/E	15.90	11.84	17.64	14.75	14.74	13.38	14.17	16.36	11.42	14.16	12.48	12.31	12.74	15.47				13.81	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	13.77	12.48	P/E:	13.43	11.99					17.12	P/E Ratio		Historical High
			-$33.34	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.95
								-$35.51	$0.00	$0.00	$0.00	$0.00	$43.95
Low Months	Dec	Jun	Jan	May	Jan	Aug	May	Dec	Aug	Mar	Jan	Oct	Jan	Jun
pre-split 96
pre-split 98
pre-split 04
Price Low	$19.25	$19.82	$24.20	$28.95	$31.31	$31.11	$33.32	$27.10	$27.59	$19.16	$29.20	$28.66	$31.52	$38.84				30.25%	<-Total Growth	10	Stock Price
Increase	-18.88%	2.96%	22.10%	19.63%	8.15%	-0.64%	7.10%	-18.67%	1.81%	-30.55%	52.40%	-1.85%	9.98%	23.22%				2.68%	<-IRR #YR->	10	Stock Price	30.25%
P/E	9.11	10.49	10.54	11.37	11.31	11.68	15.35	9.05	11.07	6.04	8.69	8.31	10.76	9.07				3.07%	<-IRR #YR->	5	Stock Price	16.31%
Trailing P/E	11.03	9.38	12.80	12.60	12.30	11.24	12.51	12.49	9.22	7.69	9.20	8.53	9.14	13.26				10.65	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	10.23	9.14	P/E:	10.91	8.69					8.24	P/E Ratio		Historical Low
			-$24.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$31.52
								-$27.10	$0.00	$0.00	$0.00	$0.00	$31.52
														$5,894	<-12 mths	13.28%
Free Cash Flow WSJ									$6,110	$9,610	$10,373	$3,772	$5,203
Change										57.28%	7.94%	-63.64%	37.94%
Free Cash Flow MS to WSJ	$5,000	$5,000	$5,000	$5,000	$5,123	$6,254	$6,757	$6,490	$6,110	$9,610	$10,370	$3,772	$5,203	$5,894				4.06%	<-Total Growth	10	Free Cash Flow
Change	-16.67%	0.00%	0.00%	0.00%	2.46%	22.08%	8.04%	-3.95%	-5.86%	57.28%	7.91%	-63.63%	37.94%	13.28%				-4.32%	<-IRR #YR->	5	Free Cash Flow MS	-19.83%
FCF/CF from Op Ratio	1.03	1.06	0.99	0.92	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.54	1.00	1.05				0.40%	<-IRR #YR->	10	Free Cash Flow MS	4.06%
Dividends paid	$1,169	$1,168	$1,200	$1,228	$1,298	$1,369	$1,453	$1,538	$1,559	$1,626	$1,626	$1,626	$1,626	$2,069				35.50%	<-Total Growth	10	Dividends paid
Percentage paid					25.34%	21.89%	21.50%	23.70%	25.52%	16.92%	15.68%	43.11%	31.25%	35.11%				$0.24	<-Median->	9	Percentage paid
5 Year Coverage									23.48%	21.42%	19.83%	21.94%	22.99%	24.60%							5 Year Coverage
Dividend Coverage Ratio					3.95	4.57	4.65	4.22	3.92	5.91	6.38	2.32	3.20	2.85				4.22	<-Median->	9	Dividend Coverage Ratio
5 Year of Coverage									4.26	4.67	5.04	4.56	4.35	4.06							5 Year of Coverage
								-$6,490	$0	$0	$0	$0	$5,203
			-$5,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,203
Market Cap	$19,375	$23,147	$32,730	$33,479	$34,300	$34,692	$34,704	$27,834	$30,841	$28,160	$35,326	$29,167	$40,896	$42,552	$42,552	$42,552		24.95%	<-Total Growth	10	Market Cap
pre-split 04
Diluted # of Shares in Million	962.07	960.58	991.49	999.89	997.85	991.67	990.70	989.10	946.53	927.79	930.96	932.28	933.53	935.24				-5.85%	<-Total Growth	10	Diluted
Change	1.52%	-0.15%	3.22%	0.85%	-0.20%	-0.62%	-0.10%	-0.16%	-4.30%	-1.98%	0.34%	0.14%	0.13%	0.18%				-0.13%	<-Median->	10	Change
Difference Diluted/Basic	-1.3%	-1.1%	-1.8%	-0.1%	-0.2%	-0.2%	-0.2%	-0.1%	-0.1%	0.0%	-0.2%	-0.1%	-0.2%	-0.3%				-0.14%	<-Median->	10	Difference Diluted/Basic
pre-split 04
Basic # of Shares in Millions	949.32	949.91	973.58	998.61	995.61	989.99	989.19	988.59	946.00	927.68	929.46	931.68	931.65	932.62				-4.31%	<-Total Growth	10	Basic
Change	0.19%	0.06%	2.49%	2.57%	-0.30%	-0.56%	-0.08%	-0.06%	-4.31%	-1.94%	0.19%	0.24%	0.00%	0.10%				-0.07%	<-Median->	10	Change
Difference Basic/Outstanding	0.0%	0.1%	2.7%	-0.2%	-0.2%	-0.4%	0.0%	-0.1%	-2.0%	0.0%	0.1%	0.0%	0.1%	-0.1%				-0.07%	<-Median->	10	Difference Basic/Outstanding
														$5,612	<-12 mths	7.86%
pre-split 98
pre-split 04
# of Share in Millions	949.76	950.60	999.40	996.70	993.35	986.40	988.72	987.74	927.28	927.85	930.62	931.85	932.43	932.14	932.14	932.14		-0.69%	<-IRR #YR->	10	Shares	-6.70%
Change	0.14%	0.09%	5.13%	-0.27%	-0.34%	-0.70%	0.24%	-0.10%	-6.12%	0.06%	0.30%	0.13%	0.06%	-0.03%	0.00%	0.00%		-1.15%	<-IRR #YR->	5	Shares	-5.60%
Cash Flow from Operations $M	$4,844	$4,722	$5,026	$5,443	$5,123	$6,254	$6,757	$6,494	$6,110	$9,610	$10,373	$7,047	$5,203	$5,612	<-12 mths			3.52%	<-Total Growth	10	Cash Flow
Increase	-16.44%	-2.52%	6.44%	8.30%	-5.88%	22.08%	8.04%	-3.89%	-5.91%	57.28%	7.94%	-32.06%	-26.17%	7.86%	<-12 mths			SO, S. Issued	Buy Backs
5 year Running Average	$4,439	$4,637	$4,869	$5,166	$5,032	$5,314	$5,721	$6,014	$6,148	$7,045	$7,869	$7,927	$7,669	$7,569	<-12 mths			57.49%	<-Total Growth	10	CF 5 Yr Running
CFPS	$5.10	$4.97	$5.03	$5.46	$5.16	$6.34	$6.83	$6.57	$6.59	$10.36	$11.15	$7.56	$5.58	$6.02	<-12 mths			10.96%	<-Total Growth	10	Cash Flow per Share
Increase	-16.55%	-2.60%	1.24%	8.59%	-5.56%	22.94%	7.79%	-3.80%	0.22%	57.19%	7.62%	-32.15%	-26.21%	7.89%	<-12 mths			0.35%	<-IRR #YR->	10	Cash Flow	3.52%
5 year Running Average	$4.73	$4.89	$5.08	$5.33	$5.14	$5.39	$5.76	$6.07	$6.30	$7.34	$8.30	$8.45	$8.25	$8.13	<-12 mths			-4.34%	<-IRR #YR->	5	Cash Flow	-19.88%
P/CF on Med Price	4.61	4.51	5.72	5.75	6.67	5.37	5.20	4.76	4.69	2.63	3.09	4.63	6.76	6.99	<-12 mths			1.05%	<-IRR #YR->	10	Cash Flow per Share	10.96%
P/CF on Closing Price	4.00	4.90	6.51	6.15	6.70	5.55	5.14	4.29	5.05	2.93	3.41	4.14	7.86	7.58	<-12 mths			-3.23%	<-IRR #YR->	5	Cash Flow per Share	-15.13%
															52.25%	Diff M/C		4.97%	<-IRR #YR->	10	CFPS 5 yr Running	62.36%
Excl.Working Capital CF	-$2,140	-$2,146	-$2,245	-$2,054	$358	-$6,805	-$5,493	$574	-$10,176	-$12,237	-$4,423	$20,624	-$8,778	$0	<-12 mths			6.31%	<-IRR #YR->	5	CFPS 5 yr Running	35.79%
Cash Flow from Operations $M WC	$2,704	$2,576	$2,781	$3,389	$5,481	-$551	$1,264	$7,068	-$4,066	-$2,627	$5,950	$27,671	-$3,575	$5,612	<-12 mths			-228.55%	<-Total Growth	10	Cash Flow less WC
Increase	55.13%	-4.73%	7.96%	21.86%	61.73%	-110.05%	-329.40%	459.18%	-157.53%	-35.39%	-326.49%	365.06%	-112.92%	-256.97%	<-12 mths			#NUM!	<-IRR #YR->	10	Cash Flow less WC	-228.55%
5 year Running Average	$2,571	$2,320	$1,645	$2,639	$3,386	$2,735	$2,473	$3,330	$1,839	$218	$1,518	$6,799	$4,671	$6,606	<-12 mths			#NUM!	<-IRR #YR->	5	Cash Flow less WC	-150.58%
CFPS Excl. WC	$2.85	$2.71	$2.78	$3.40	$5.52	-$0.56	$1.28	$7.16	-$4.38	-$2.83	$6.39	$29.69	-$3.83	$6.02	<-12 mths			11.00%	<-IRR #YR->	10	CF less WC 5 Yr Run	183.89%
Increase	54.92%	-4.82%	2.69%	22.19%	62.27%	-110.12%	-328.86%	459.73%	-161.28%	-35.43%	-325.82%	364.44%	-112.91%	-257.02%	<-12 mths			7.00%	<-IRR #YR->	5	CF less WC 5 Yr Run	40.25%
5 year Running Average	$2.76	$2.45	$1.70	$2.72	$3.45	$2.77	$2.48	$3.36	$1.80	$0.13	$1.52	$7.21	$5.01	$7.09	<-12 mths			#NUM!	<-IRR #YR->	10	CFPS - Less WC	-237.78%
P/CF on Med Price	8.26	8.27	10.34	9.24	6.24	-60.99	27.79	4.37	-7.05	-9.62	5.38	1.18	-9.84	6.99	<-12 mths			-20.45%	<-IRR #YR->	5	CFPS - Less WC	-153.58%
P/CF on Closing Price	7.17	8.99	11.77	9.88	6.26	-62.96	27.46	3.94	-7.59	-10.72	5.94	1.05	-11.44	7.58	<-12 mths			11.40%	<-IRR #YR->	10	CFPS 5 yr Running	194.30%
*Operational Cash Flow per share			CF/-WC	P/CF Med	10 yr	4.98	5 yr	4.63	P/CF Med	10 yr	2.78	5 yr	-7.05		173.07%	Diff M/C		8.32%	<-IRR #YR->	5	CFPS 5 yr Running	49.09%
I left Excluding WC for 2009 and eariler because I think I got the values from G&M.
			-999.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	932.4								Shares
								-987.7	0.0	0.0	0.0	0.0	932.4								Shares
			-$5,026	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,203								Cash Flow
								-$6,494	$0	$0	$0	$0	$5,203								Cash Flow
			-$5.03	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.58								Cash Flow per Share
								-$6.57	$0.00	$0.00	$0.00	$0.00	$5.58								Cash Flow per Share
			-$5.08	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.25								CFPS 5 yr Running
								-$6.07	$0.00	$0.00	$0.00	$0.00	$8.25								CFPS 5 yr Running
			-$2,781	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$3,575								Cash Flow less WC
								-$7,068	$0	$0	$0	$0	-$3,575								Cash Flow less WC
			-$1,645	$0	$0	$0	$0	$0	$0	$0	$0	$0	$4,671								CF less WC 5 Yr Run
								-$3,330	$0	$0	$0	$0	$4,671								CF less WC 5 Yr Run
			-$2.78	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$3.83								CFPS - Less WC
								-$7.16	$0.00	$0.00	$0.00	$0.00	-$3.83								CFPS - Less WC
			-$1.70	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.01								CFPS 5 yr Running
								-$3.36	$0.00	$0.00	$0.00	$0.00	$5.01								CFPS 5 yr Running
														Q2 2023
Chge in Insurance & investment					-$1,088	$7,128	$4,391	-$379	$10,412	$14,476	$1,819	-$23,273
above separate Insurance													$9,316	$1,619
above separate Investment													-$4,561	-$3,066
Chge in funds held ceding insurers					$821	$505	$857	$663	$570	$467	$845	-$294		$85
Chge in funds held under reinsurance					$28	$18	$50	-$37	$81	$201	-$84	-$294		$522
above separate Liabilities													$170
above separate Assets													$5
Chge in deferred acq					$32	$42
Chge in reinsurance assets					$367	-$567	$830	$51	-$900	-$1,629	$1,915	$3,830	-$480	-$299
Change in Fair Value
Other					-$157	-$98	-$321	-$444	$248	-$911	$279	-$245	$1,497	$663
Sales, Matur and repayments Prot Inv													$38,507
Purchase of Port Investments													-$35,253
Income Taxes Paid					-$361	-$223	-$314	-$428	-$235	-$367	-$351		-$423
Sum					-$358	$6,805	$5,493	-$574	$10,176	$12,237	$4,423	-$20,276	$8,778	-$476
Google --> TD			$2,245	$2,054	$1,652	$2,902	$4,027	-$574	$10,176	$12,237	$4,423	-$20,624	$8,778
Difference					-$2,010	$3,903	$1,466	$0	$0	$0	$0	$348	$0
Google --> TD			$2,245	$2,054	$1,652	$2,902
Difference			-$2,245	-$2,054	-$2,010	$3,903
Google --> TD in 2020, 2024					-$358	$6,805	$5,493	-$574			$4,423	-$31,267	$8,778
Difference					$0	$0	$0
OPM	16.20%	15.71%	19.00%	13.89%	15.15%	13.48%	14.37%	14.75%	13.67%	15.86%	16.10%	15.78%	12.50%	8.29%				-34.23%	<-Total Growth	10	OPM
Increase	-16.16%	-3.05%	20.99%	-26.90%	9.04%	-10.98%	6.60%	2.60%	-7.32%	16.04%	1.52%	-2.01%	-20.79%	-33.67%					Should increase		or be stable.
Diff from Ave	11.3%	7.9%	30.5%	-4.6%	4.0%	-7.4%	-1.3%	1.3%	-6.1%	8.9%	10.6%	8.4%	-14.2%	-43.1%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	14.56%	5 Yrs	15.78%					should be	zero, it is a		check on calculations
Cash and Investments.	$124,551	$130,548	$142,774	$158,510	$177,093	$202,256	$167,905	$177,481	$177,501	$217,403	$244,136	$278,042	$256,105	$247,111				79.38%	<-Total Growth	10	Cash and Investments.
Debt/Investment Ratio	0.93	0.92	0.92	0.92	0.91	0.78	0.95	0.94	0.98	1.00	0.90	0.89	0.91	0.94				91.75%	<-Median->	10	Debt/Investment Ratio
Long Term Debt	$115,512	$120,658	$132,063	$146,055	$160,745	$157,949	$159,524	$166,720	$174,521	$218,047	$220,833	$247,698	$233,955	$233,083				77.15%	<-Total Growth	10	Long Term Debt	Ins. Cont.
Change		4.45%	9.45%	10.59%	10.06%	-1.74%	1.00%	4.51%	4.68%	24.94%	1.28%	12.17%	-5.55%	-0.37%				4.60%	<-Median->	10	Change
Debt/Market Cap Ratio	5.96	5.21	4.03	4.36	4.69	4.55	4.60	5.99	5.66	7.74	6.25	8.49	5.72	5.48				5.69	<-Median->	10	% of Market C.
Assets/Current Liabilities Ratio	98.62	73.14	87.61	67.10	71.24	62.16	62.48	56.88	53.07	73.34	67.88	57.79	55.12	54.18				62.32	<-Median->	10	Assets/Current Liabilities
Debt to Cash Flow (Years)	23.85	25.55	26.28	26.83	31.38	25.26	23.61	25.67	28.56	22.69	21.29	35.15	44.97	41.53							Debt to Cash Flow (Years)
Intangibles	$3,154	$3,115	$3,456	$3,625	$4,036	$3,972	$3,732	$3,976	$3,879	$4,285	$5,514	$6,209	$4,484	$4,532				29.75%	<-Total Growth	10	Intangibles
Goodwill	$5,401	$5,397	$5,812	$5,855	$5,913	$5,977	$6,179	$6,548	$6,505	$10,106	$9,081	$10,604	$11,249	$11,377				93.55%	<-Total Growth	10	Goodwill
Total	$8,555	$8,512	$9,268	$9,480	$9,949	$9,949	$9,911	$10,524	$10,384	$14,391	$14,595	$16,813	$15,733	$15,909				69.76%	<-Total Growth	10	Total
Change		-0.50%	8.88%	2.29%	4.95%	0.00%	-0.38%	6.19%	-1.33%	38.59%	1.42%	15.20%	-6.42%	1.12%				1.85%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.44	0.37	0.28	0.28	0.29	0.29	0.29	0.38	0.34	0.51	0.41	0.58	0.38	0.37				0.36	<-Median->	10	% of Market C.
Current Assets	$2,482	$4,708	$5,859	$5,554	$6,366	$7,570	$8,332	$9,588	$10,745	$14,193	$12,709	$14,606	$12,865	$11,925				119.58%	<-Total Growth	10	Current Assets
Current Liabilities	$2,421	$3,469	$3,720	$5,316	$5,614	$6,434	$6,720	$7,519	$8,502	$8,188	$9,288	$12,138	$12,940	$13,835				247.85%	<-Total Growth	10	Current Liabilities
Liquidity	1.03	1.36	1.58	1.04	1.13	1.18	1.24	1.28	1.26	1.73	1.37	1.20	0.99	0.86				1.22	<-Median->	10	Ratio
Liq. with CF aft div	2.54	2.38	2.60	1.84	1.82	1.94	2.03	1.93	1.80	2.71	2.30	1.63	1.25	1.12				1.80	<-Median->	5	Ratio
Liq. CF re  Inv+Div	1.06	1.13	1.13	1.03	1.13	1.13	1.19	1.18	1.53	1.35	1.04	1.12	1.18	1.12				1.18	<-Median->	5	Ratio
Assets	$238,768	$253,718	$325,905	$356,709	$399,935	$399,912	$419,838	$427,689	$451,167	$600,490	$630,488	$701,455	$713,230	$749,562				118.85%	<-Total Growth	10	Assets
Liabilities	$222,664	$236,132	$305,906	$334,812	$374,675	$374,904	$394,302	$400,291	$425,624	$573,475	$600,005	$669,137	$683,379	$718,692				123.40%	<-Total Growth	10	Liabilities
Debt Ratio	1.07	1.07	1.07	1.07	1.07	1.07	1.06	1.07	1.06	1.05	1.05	1.05	1.04	1.04				1.06	<-Median->	10	Ratio
Estimates BVPS														$26.34	$28.41	$29.72			Estimates		Estimates BVPS
Estimate Book Value														$24,552.6	$26,482.1	$27,703.2			Estimates		Estimate Book Value
P/B Ratio (Close)														1.73	1.61	1.54			Estimates		P/B Ratio (Close)
Difference from 10 year median															9.00%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value	$16,104	$17,586	$19,999	$21,897	$25,260	$25,008	$25,536	$27,398	$25,543	$27,015	$30,483	$32,318	$29,851	$30,870				49.26%	<-Total Growth	10	Book Value
Non-Cont. Int.	$2,230	$2,510	$2,362	$2,643	$2,806	$3,006	$2,935	$2,875	$2,866	$2,987	$3,267	$3,308	$3,015	$3,014				27.65%	<-Total Growth	10	Non-Cont. Int.
Shareholders' Equity	$13,874	$15,076	$17,637	$19,254	$22,454	$22,002	$22,601	$24,523	$22,677	$24,028	$27,216	$29,010	$26,836	$27,856				52.16%	<-Total Growth	10	Shareholders' Equity
Preferred Stock	$1,894	$2,544	$2,314	$2,514	$2,514	$2,514	$2,714	$2,714	$2,714	$2,714	$5,748	$5,791	$6,000	$2,720				159.29%	<-Total Growth	10	Preferred Stock
Book Value	$11,980	$12,532	$15,323	$16,740	$19,940	$19,488	$19,887	$21,809	$19,963	$21,314	$21,468	$23,219	$20,836	$25,136	$25,136	$25,136		35.98%	<-Total Growth	10	Book Value
Book Value per Share	$12.61	$13.18	$15.33	$16.80	$20.07	$19.76	$20.11	$22.08	$21.53	$22.97	$23.07	$24.92	$22.35	$26.97	$26.97	$26.97		45.75%	<-Total Growth	10	Book Value per Share
Change	3.82%	4.52%	16.30%	9.54%	19.52%	-1.58%	1.81%	9.77%	-2.50%	6.70%	0.42%	8.01%	-10.32%	20.67%	0.00%	0.00%		-9.78%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	1.86	1.70	1.88	1.87	1.71	1.72	1.77	1.42	1.44	1.19	1.49	1.40	1.69	1.56				1.88	P/B Ratio		Historical Median
P/B Ratio (Close)	1.62	1.85	2.14	2.00	1.72	1.78	1.75	1.28	1.54	1.32	1.65	1.26	1.96	1.69	1.69	1.69		3.84%	<-IRR #YR->	10	Book Value per Share
Change	-25.57%	14.21%	15.65%	-6.37%	-13.99%	3.49%	-1.97%	-26.86%	21.05%	-14.48%	24.55%	-23.66%	56.25%	-13.75%	0.00%	0.00%		0.24%	<-IRR #YR->	5	Book Value per Share
Leverage (A/BV)	14.83	14.43	16.30	16.29	15.83	15.99	16.44	15.61	17.66	22.23	20.68	21.70	23.89	24.28				17.05	<-Median->	10	A/BV
Debt/Equity Ratio	13.83	13.43	15.30	15.29	14.83	14.99	15.44	14.61	16.66	21.23	19.68	20.70	22.89	23.28				16.05	<-Median->	10	Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities)									P/BV	10 yr Med	1.59	5 yr Med	1.44		6.47%	Diff M/C		14.83	Historical		A/BV
			-$15.33	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$22.35
								-$22.08	$0.00	$0.00	$0.00	$0.00	$22.35
														$4,761	<-12 mths	28.75%
Comprehensive Income	$2,406	$1,829	$3,440	$2,927	$4,785	$1,249	$1,842	$3,726	$1,972	$3,105	$3,245	$3,728	$3,042					-11.57%	<-Total Growth	10	Comprehensive Income
NCI	$62	-$4	$13	-$33	$57	-$43	-$63	-$27	$30	$37	-$162	$30	$11								NCI
Shareholders	$2,344	$1,833	$3,427	$2,960	$4,728	$1,292	$1,905	$3,753	$1,942	$3,068	$3,407	$3,698	$3,698					7.91%	<-Total Growth	10	Shareholders
Increase	90.57%	-21.80%	86.96%	-13.63%	59.73%	-72.67%	47.45%	97.01%	-48.25%	57.98%	11.05%	8.54%	0.00%					8.54%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$1,493	$1,686	$1,931	$2,359	$3,058	$2,848	$2,862	$2,928	$2,724	$2,392	$2,815	$3,174	$3,163					0.76%	<-IRR #YR->	10	Comprehensive Income	7.91%
ROE	14.6%	10.4%	17.1%	13.5%	18.7%	5.2%	7.5%	13.7%	7.6%	11.4%	11.2%	11.4%	12.4%					-0.29%	<-IRR #YR->	5	Comprehensive Income	-1.47%
5Yr Median	7.9%	10.4%	10.4%	13.5%	14.6%	13.5%	13.5%	13.5%	7.6%	7.6%	11.2%	11.4%	11.4%					5.06%	<-IRR #YR->	10	5 Yr Running Average	63.76%
% Difference from NI	-13.8%	-28.0%	15.3%	-11.1%	35.1%	-56.7%	-25.4%	4.9%	-35.7%	-17.8%	-23.3%	-17.5%	-5.7%					1.56%	<-IRR #YR->	5	5 Yr Running Average	8.03%
Median Values										Diff	5, 10 yr	-17.6%	-17.8%					11.4%	<-Median->	5	Return on Equity
			-$3,427	$0	$0	$0	$0	$0	$0	$0	$0	$0	$3,698
								-$3,753	$0	$0	$0	$0	$3,698
			-$1,931	$0	$0	$0	$0	$0	$0	$0	$0	$0	$3,163
								-$2,928	$0	$0	$0	$0	$3,163
Current Liability Coverage Ratio	1.12	0.74	0.75	0.64	0.98	-0.09	0.19	0.94	-0.48	-0.32	0.64	2.28	-0.28	0.41							CFO / Current Liabilities
5 year Median	1.12	1.04	0.75	0.75	0.75	0.74	0.64	0.64	0.19	-0.09	0.19	0.64	-0.28	0.41				-0.28	<-Median->	5	Current Liability Cov Ratio
Asset Efficiency Ratio	1.13%	1.02%	0.85%	0.95%	1.37%	-0.14%	0.30%	1.65%	-0.90%	-0.44%	0.94%	3.94%	-0.50%	0.75%							CFO / Total Assets
5 year Median	1.33%	1.13%	1.02%	1.02%	1.02%	0.95%	0.85%	0.95%	0.30%	-0.14%	0.30%	0.94%	-0.44%	0.75%				-0.4%	<-Median->	5	Return on Assets
Return on Assets	0.85%	0.72%	0.70%	0.71%	0.69%	0.58%	0.47%	0.67%	0.52%	0.49%	0.50%	0.46%	0.38%	0.53%				Net	Income/Assets		ROA
5Yr Median	1.26%	1.12%	0.85%	0.72%	0.71%	0.70%	0.69%	0.67%	0.58%	0.52%	0.50%	0.50%	0.49%	0.49%				0.5%	<-Median->	5	ROA
ROE	16.88%	14.48%	14.87%	15.21%	13.85%	11.94%	10.01%	13.05%	11.82%	13.81%	14.57%	13.86%	13.14%	15.85%				Net Inc/	Shareholders' equity		ROE
5Yr Median	14.77%	14.48%	14.77%	14.87%	14.87%	14.48%	13.85%	13.05%	11.94%	11.94%	13.05%	13.81%	13.81%	13.86%				13.8%	<-Median->	5	ROE
														$3,610	<-12 mths
Net Income	$2,239	$2,208	$2,498	$2,761	$3,011	$2,641	$2,149	$2,961	$2,507	$3,154	$3,563	$3,534	$2,891					15.73%	<-Total Growth	10	Net Income
NCI	$121	$278	$90	$93	$123	$192	$30	-$19	$15	$78	$301	$185	$23								NCI
Preferred Shares	$96	$115	$130	$122	$126	$123	$129	$133	$133	$133	$134	$130	$130								Preferred Shares
Shareholders	$2,022	$1,815	$2,278	$2,546	$2,762	$2,326	$1,990	$2,847	$2,359	$2,943	$3,128	$3,219	$2,738	$3,983	$4,094	$4,212		20.19%	<-Total Growth	10	Net Income
Increase	22.03%	-10.24%	25.51%	11.76%	8.48%	-15.79%	-14.45%	43.07%	-17.14%	24.76%	6.29%	2.91%	-14.94%	45.47%	2.79%	2.88%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$1,788	$1,729	$1,894	$2,064	$2,285	$2,345	$2,380	$2,494	$2,457	$2,493	$2,653	$2,899	$2,877	$3,202	$3,432	$3,649		1.86%	<-IRR #YR->	10	Net Income	20.19%
Operating Cash Flow	$4,844	$4,722	$5,026	$5,443	$5,123	$6,254	$6,757	$6,494	$6,110	$9,610	$10,373	$7,047	$5,203					-0.78%	<-IRR #YR->	5	Net Income	-3.83%
Investment Cash Flow	-$3,407	-$3,838	-$4,813	-$4,129	-$3,424	-$4,565	-$4,778	-$4,776	-$1,539	-$8,202	-$11,212	-$5,493	-$783					4.27%	<-IRR #YR->	10	5 Yr Running Average	51.91%
Total Accruals	$585	$931	$2,065	$1,232	$1,063	$637	$11	$1,129	-$2,212	$1,535	$3,967	$1,665	-$1,682					2.90%	<-IRR #YR->	5	5 Yr Running Average	15.36%
Total Assets	$238,768	$253,718	$325,905	$356,709	$399,935	$399,912	$419,838	$427,689	$451,167	$600,490	$630,488	$701,455	$713,230						Balance Sheet		Assets
Accruals Ratio	0.25%	0.37%	0.63%	0.35%	0.27%	0.16%	0.00%	0.26%	-0.49%	0.26%	0.63%	0.24%	-0.24%					0.24%	<-Median->	5	Ratio
EPS/CF Ratio	0.74	0.70	0.83	0.75	0.50	-4.77	1.70	0.42	-0.57	-1.12	0.53	0.12	-0.76					0.27	<-Median->	10	EPS/CF Ratio
																		Should not be higher than 1.00
			-$2,278	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,738
								-$2,847	$0	$0	$0	$0	$2,738
			-$1,894	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,877
								-$2,494	$0	$0	$0	$0	$2,877
Change in Close	-22.73%	19.36%	34.50%	2.56%	2.80%	1.85%	-0.20%	-19.72%	18.03%	-8.75%	25.07%	-17.54%	40.13%	4.08%	0.00%	0.00%			Count	28	Years of data
up/down																			Count	0	0.00%
Meet Prediction?																		% right	Count	0	#DIV/0!
Financial Cash Flow	-$1,245	-$1,037	$493	-$1,685	-$1,683	-$1,045	-$1,659	-$1,267	-$3,981	$2,010	-$992	-$620	-$3,550						C F Statement		Financial Cash Flow
Total Accruals	$1,830	$1,968	$1,572	$2,917	$2,746	$1,682	$1,670	$2,396	$1,769	-$475	$4,959	$2,285	$1,868								Accruals
Accruals Ratio	0.77%	0.78%	0.48%	0.82%	0.69%	0.42%	0.40%	0.56%	0.39%	-0.08%	0.79%	0.33%	0.26%					0.33%	<-Median->	5	Ratio
Cash	$2,056	$1,895	$2,791	$2,498	$2,813	$3,259	$3,551	$4,168	$4,628	$7,946	$6,075	$7,290	$7,742	$8,582							Cash
Cash per Share	$2.16	$1.99	$2.79	$2.51	$2.83	$3.30	$3.59	$4.22	$4.99	$8.56	$6.53	$7.82	$8.30	$9.21				$7.82	<-Median->	5	Cash per Share
Percentage of Stock Price	10.61%	8.19%	8.53%	7.46%	8.20%	9.39%	10.23%	14.97%	15.01%	28.22%	17.20%	24.99%	18.93%	20.17%				18.93%	<-Median->	5	% of Stock Price
Notes:
September 10, 2024.  Last estimates were for 2023, 2024, 2024 of $67301M, $69578M, $71,975M for Revenue, $3.82, $4.04, $4.27 AEPS,
$3.18, $4.00, $4.26  EPS, $2.05, $2.14, $2.20 Dividends, $24.10, 25.90, $28.20 BVPS, $2990M, $38686M, $3869M Net Income.
May 31, 2023.  Great West Life sell Putnum Investments
https://www.greatwestlifeco.com/news-events/news/great-west-lifeco-announces-sale-of-putnam-investments-to-franklin-templeton.html
Selling Putnum great reduces the companies Revenue.
September 15, 2023.  Last estimates is 2022, 2023 and 2024 of $66900M, $78900M and $80200M for Revenue, $3.61, $3.86 and $4.84 for AEPS,
$3.39, $3.75 and $3.64 for EPS, $1.97, $2.11 and $2.46 for Dividends, and $3156M, $3518M and $3397M for Net Income.
September 17, 2021.  Last estimate is for 2021, 2022 and 2023 of $66951M and $67180M for 2021-22 for Revenue, $3.25, $3.57 and $4.03 for EPS,
$1.75, $1.83 and $1.95 for Dividends, and $3031M, $3328M and $4564M for Net Income.
September 10, 2021.  Last estimates were for 2020, 2021 and 2022 of $48082M, $54644M and $57651M for Revenue, $2.63, $3.04 and $3.33 for EPS,
$1.75, $1.82 and $2.03 for Dividends, and $2411M, $2691M and $2603M for Net Income.
September 19, 2020.  Last estimates were for 2019, 2020 and 2021 of $57746M, $57475 and $60350 for Revenue, $2.65, $3.12 and $3.39 for EPS,
$1.65, $1.64 and $1.84 for Dividends and $2507M, $2895M and $3152M for Net Income.
September 15, 2019.  Last estimates were for 2018, 2019 nd 2020 of $47705M, $49656M and $51922M for Revenue, $3.07, $3.25 and $3.50 for EPS,
$2.97 for CFPS for 2018 and $3663M, $3248M and $3587M for Net Income.
September 23, 2018.  Last estimates were for 2017, 2018 and 2019 oof $44511M, $45448M and $48093M for Revenue, $2.66, $3.05 and $3.39 for EPS,
$2.97, $3.10 for CFPS for 2017 and 2018 and $2602M, $3041M and $3487M for Net Income.
September 23, 2017.  Last estimates were for 2016, 2017 and 2018 of $44683M, $42366M and $43553M for Revenue, $2.62, $2.86 and $2.89 for EPS,
$2.47, $2.39 and $2.57 for CFPS and $2637M, $2918M and $3133M for Net Income.
September 27, 2016.  Last estimates were for 2015, 2016 and 2017 of $36305M, $39996M and $45405M for Revenue, $2.73, $2.93 and $3.17 for EPS,
$6.32, $3.43 and $3.63 for CFPS and $2764M, $2948M and $3127M for Net Income.
October 4, 2015.  Last estimates were for 2014, 2015 and 2016 of $36068M, $42467M and $43562M for Revenue, $2.50, $2.63 and $2.44 for EPS,
$2.35, $1.59 and $1.72 for CFPS and $2498M, $2758M and $3045M for Net Income.
September 26, 2014.  Last estimates were for 2013, 2014 and 2015 of $29254M, $52508M and $42305M for Revenue, $2.28, $2.54 and $2.72 for EPS.
August 30, 2013.  Last estimates were for 2012 and 2013 of $29,234M and $32,311M for Revenue, $2.08 and $2.29 (and $2.92) for EPS.
May 26, 2012.  Last estimates were for 2011 and 2012 of Revenue fo $29084M and $28170M, EPS of $1.95, 2.14 and for 2013 $2.20.
Jan 21, 2012.  Last estimates I got was for 2010 and 2011 for EPS at $1.90 and $2.23.
Nov 11, 2010.  Last time I looked, I got earnings for 2009 and 2010 of $1.85 and $2.50
2007 AR.   I can see why people like this stock.  It is basically a stable earner.
For cash flow, I do not think that there is a non-cash flow or working capital as current assets and liabilities liquidity ratio does not really apply.
Sector:
Insurance, Financial
What should this stock accomplish?
Would I buy this company and Why.
This is a good dividend growth stock. The only reason I would not personally buy it is that it is part of Power Corp and Power Financial.
I own Power Financial.
Why am I following this stock.
This stock seems to be a favorite with investors who like solid, stable, dividend paying stock. It was on Mike Higgs' list and it used to be on the dividend lists.
I have been following this stock for some time.  However, I will not buy it because I have Power Corp. (TSX-POW).  Great West Lifeco Inc. is one of the companies under Power Corp. (TSX-POW).
Dividends
Dividends are paid quarterly in Cycle 3, that is March, June, September and December.  Dividends are either declared late in one month and paid in the following month, or declared early in the month and paid in that month.
For example, the dividend declared for Shareholders of record of February 28, 2013 was paid on March 28, 2013.  However, the dividend declared for shareholders of record of December 3, 2013 was paid on December 31, 2013.
How they make their money.
Great-West Lifeco provides life insurance, health insurance, retirement products, asset management, recordkeeping services, and reinsurance products in Canada, the
United States, and Europe.  The company operates the second-largest recordkeeping business under the Empower brand in the United States.
Power Financial Corp owes 68.2% of this company as of December 2011.  In June of 2013, ownership is 69.4%.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	2016	Sep	2017	Sep 23	2018	Sep 15	2019	Sep 19	2020	Sep 9	2021	Sep 17	2022	Sep 15	2023			Sep 15	2024
Mahon, Paul	0.01%	0.142	0.01%	0.146	0.01%	0.151	0.02%	0.156	0.02%	0.193	0.02%	0.219	0.02%	0.250	0.03%			0.250	0.03%			0.00%
CEO - Shares - Amount	$4.88		$4.996		$4.116		$5.007		$4.731		$7.314		$6.852		$10.954				$11.401
Options - percentage	0.11%	1.314	0.13%	1.379	0.14%	1.919	0.21%	2.433	0.26%	2.947	0.32%	3.400	0.36%	3.918	0.42%			3.918	0.42%			0.00%
Options - amount	$38.89		$46.129		$38.847		$63.815		$73.855		$111.874		$106.432		$171.824				$178.836
Nielsen, Jon														0.000	0.00%			0.000	0.00%			#DIV/0!
CFO - Shares - Amount															$0.000				$0.003
Options - percentage														0.315	0.03%			0.503	0.05%			59.57%
Options - amount															$13.819				$22.951
MacNicholas, Garry	0.00%	0.003	0.00%	0.003	0.00%	0.003	0.00%	0.005	0.00%	0.005	0.00%	0.005	0.00%	0.005	0.00%			0.005	0.00%			0.00%
CFO - Shares - Amount	$0.09		$0.088		$0.070		$0.083		$0.156		$0.195		$0.161		$0.225				$0.235
Options - percentage	0.03%	0.346	0.04%	0.417	0.04%	0.561	0.06%	0.677	0.07%	0.792	0.09%	0.910	0.10%	1.027	0.11%			0.943	0.10%			-8.16%
Options - amount	$9.75		$12.159		$11.749		$18.646		$20.556		$30.075		$28.476		$45.028				$43.040
Bird, Graham R.	0.00%	0.002	0.00%	0.003	0.00%	0.005	0.00%	0.007	0.00%	0.009	0.00%	0.011	0.00%	0.013	0.00%						last report Mar 2024	-100.00%
Officer - Shares - Amount	$0.03		$0.074		$0.098		$0.168		$0.212		$0.353		$0.351		$0.585						Ceased insider Mar 2024
Options - percentage	0.02%	0.350	0.04%	0.445	0.05%	0.613	0.07%	0.775	0.08%	0.933	0.10%	1.142	0.12%	1.332	0.14%							-100.00%
Options - amount	$8.46		$12.277		$12.543		$20.380		$23.522		$35.432		$35.747		$58.440
Macoun, Jeffrey Frederick												0.011	0.00%	0.013	0.00%						Ceased insider Mar 2024	-100.00%
Officer - Shares - Amount													$0.335		$0.562
Options - percentage												0.878	0.09%	0.948	0.10%							-100.00%
Options - amount													$27.471		$41.567
Harney, David Martin												0.002	0.00%	0.002	0.00%			0.002	0.00%			27.46%
Officer - Shares - Amount													$0.055		$0.069				$0.091
Options - percentage												0.395	0.04%	0.507	0.05%			0.654	0.07%			29.05%
Options - amount													$12.368		$22.234				$29.863
Morin, Fabrice														0.005	0.00%			0.006	0.00%			26.69%
Officer - Shares - Amount															$0.215				$0.284
Options - percentage														0.303	0.03%			0.423	0.05%			39.83%
Options - amount															$13.283				$19.332
Kerrigan, Linda														0.011	0.00%			0.011	0.00%			3.45%
Officer - Shares - Amount															$0.481				$0.518
Options - percentage														0.121	0.01%			0.129	0.01%			6.01%
Options - amount															$5.318				$5.868
Coutu, Marcel R.	0.00%	0.010	0.00%	0.010	0.00%	0.010	0.00%	0.010	0.00%	0.010	0.00%	0.010	0.00%	0.010	0.00%			0.010	0.00%			0.00%
Director - Shares - Amount	$0.352		$0.351		$0.282		$0.333		$0.304		$0.380		$0.313		$0.439				$0.457
Options - percentage	0.00%	0.035	0.00%	0.043	0.00%	0.059	0.01%	0.077	0.01%	0.094	0.01%	0.109	0.01%	0.127	0.01%			0.146	0.02%			14.81%
Options - amount	$0.91		$1.218		$1.211		$1.958		$2.347		$3.562		$3.418		$5.571				$6.657
Desmarais, André	0.04%	0.350	0.04%	0.350	0.04%	0.350	0.04%	0.350	0.04%	0.350	0.04%	0.350	0.04%	0.350	0.04%			0.350	0.04%			0.00%
Director - Shares - Amount	$12.31		$12.285		$9.863		$11.641		$10.623		$13.286		$10.955		$15.351				$15.978
Options - percentage	0.01%	0.152	0.02%	0.161	0.02%	0.183	0.02%	0.210	0.02%	0.233	0.03%	0.256	0.03%	0.219	0.02%			0.309	0.03%			41.13%
Options - amount	$4.99		$5.328		$4.539		$6.097		$6.360		$8.848		$7.998		$9.597				$14.097
Orr, Robert Jeffrey	0.00%	0.020	0.00%	0.020	0.00%	0.020	0.00%	0.020	0.00%	0.020	0.00%	0.020	0.00%	0.020	0.00%			0.020	0.00%			0.00%
Chairman -	$0.70		$0.702		$0.564		$0.665		$0.607		$0.759		$0.626		$0.877				$0.913
Options - percentage	0.01%	0.163	0.02%	0.177	0.02%	0.191	0.02%	0.208	0.02%	0.225	0.02%	0.242	0.03%	0.261	0.03%			0.280	0.03%			7.19%
Options - amount	$5.13		$5.724		$4.979		$6.353		$6.327		$8.549		$7.559		$11.437				$12.760
Desmarais, Paul G.
Director Shares - M$
Desmarais Family Residuary Trust	71.91%	709.305	71.74%	709.305	71.81%	657.587	70.92%	657.587	70.87%	657.587	70.66%	657.587	70.57%	657.587	70.52%						Last filed in Apr 2019	-100.00%
10% Holder - Shares - Amt	$24,946.27		$24,896.62		$19,988.23		$21,871.35		$19,957.77		$24,962.01		$20,582.478		$28,841.773
Increase in O/S Shares	0.30%	1.016	0.10%	4.124	0.42%	1.144	0.12%	1.243	0.13%	0.572	0.06%	2.767	0.30%	1.233	0.13%			4.296	0.46%		Average	0.22%
due to SO	$101.201		$35.729		$144.764		$40.156		$41.334		$17.358		$105.044		$38.586				$188.425
Book Value	$99.000		$31.000		$143.000		$39.000		$39.000		$5.651		$97.000		$43.000				$158.000
Insider Buying	-$0.052		-$0.969		-$0.035		-$0.062		-$0.083		-$2.406		-$0.195		$0.000				$0.000
Insider Selling	$2.100		$2.186		$5.636		$0.000		$0.705		$2.863		$2.502		$9.076				$22.672
Net Insider Selling	$2.048		$1.217		$5.601		-$0.062		$0.622		$0.457		$2.306		$9.076				$22.672
% of Market Cap	0.01%		0.00%		0.02%		0.00%		0.00%		0.00%		0.01%		0.02%				0.05%
Directors		21		22		22		22		19		18		19				19
Women	20%	4	19%	5	23%	5	23%	6	27%	6	32%	5	28%	6	32%			6	32%
Minorities	0%	2	10%	1	5%	1	5%	1	5%	1	5%	1	6%	2	11%			1	5%
Institutions/Holdings	9.47%	214	8.41%	212	81.68%
Value of Shares Held			$2,917.54		$25,189.98
Total Shares Held	9.53%	86.000	8.70%	783.000	79.19%
Value of Shares Held			$3,018.60		$27,483.30
Increase/Decrease	-3.98%	-1.000	-1.15%	-3.000	-0.38%
Starting No. of Shares		87.000	Morningstar	786.000	Morningstar
Institutions/Holdings		3	7.00%	2	4.46%	20	4.46%			20	13.30%	20	13.30%	20	42.53%			20	11.69%		Morningstar now top 20
Total Shares Held		0.647	0.07%	0.066	0.01%	762.842	82.27%			123.638	13.29%	67.716	7.27%	396.051	42.48%			109.004	11.69%
Increase/Decrease		0.002	0.28%	0.000	0.11%	-11.460	-1.48%			5.627	4.77%	-0.520	-0.76%	18.513	4.90%			0.974	0.90%
Starting No. of Shares		0.645	Nasdaq	0.066	Reuters	774.302	Reuters			118.012	MS Top 20	68.236	MS Top 20	377.538	MS Top 20			108.030	MS Top 20
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