This report is for educational purposes only, and not to provide investment advice.  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.														Q1 2025	<-Estimates				https://www.annualreports.com/Company/transalta-corp
See my website on stocks or see my blog at the following sites.						https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/				3/31/25	<-Estimates
TransAlta Corp					TSX:	TA	NSYE	TAC	https://www.transalta.com			Fiscal Yr:	Dec 31
Year	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	12/31/27		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 Date																					Split Date
Split																					Split
								Carbon C
Fuel and Carbon Compliance		$948.0	$1,092.0	$1,008.0	$963.0	$1,016.0	$1,100.0	$1,086.0	$968.0	$1,232.0	$1,341.0	$1,172.0	$1,051.0					-3.75%	<-Total Growth	10	Fuel and Carbon Compliance
Change			15.19%	-7.69%	-4.46%	5.50%	8.27%	-1.27%	-10.87%	27.27%	8.85%	-12.60%	-10.32%					-2.87%	<-Median->	10	Change
Ratio		0.41	0.42	0.44	0.40	0.44	0.49	0.46	0.46	0.45	0.45	0.35	0.37					0.45	<-Median->	10	Ratio
Operations, Maintenance & Admin		$516.0	$542.0	$492.0	$489.0	$517.0	$515.0	$475.0	$472.0	$511.0	$521.0	$539.0	$655.0					20.85%	<-Total Growth	10	Operations, Maintenance & Admin
Change			5.04%	-9.23%	-0.61%	5.73%	-0.39%	-7.77%	-0.63%	8.26%	1.96%	3.45%	21.52%					0.79%	<-Median->	10	Change
Ratio		0.23	0.21	0.22	0.20	0.22	0.23	0.20	0.22	0.19	0.18	0.16	0.23					0.21	<-Median->	10	Ratio
Total		$1,464.0	$1,634.0	$1,500.0	$1,452.0	$1,533.0	$1,615.0	$1,561.0	$1,440.0	$1,743.0	$1,862.0	$1,711.0	$1,706.0					4.41%	<-Total Growth	10	Total
Change			11.61%	-8.20%	-3.20%	5.58%	5.35%	-3.34%	-7.75%	21.04%	6.83%	-8.11%	-0.29%					-1.75%	<-Median->	10	Change
Ratio		0.64	0.62	0.66	0.61	0.66	0.72	0.67	0.69	0.64	0.63	0.51	0.60					0.65	<-Median->	10	Ratio
													$3,251	<-12 mths	-3.10%				Estimates		Last 12 months from Qtr
Revenue*	$2,262.0	$2,292.0	$2,623.0	$2,267.0	$2,397.0	$2,307.0	$2,249	$2,347	$2,101	$2,721	$2,976	$3,355	$2,845	$2,473	$2,073	$2,359		8.46%	<-Total Growth	10	Revenue
Increase	-15.06%	1.33%	14.44%	-13.57%	5.73%	-3.75%	-2.51%	4.36%	-10.48%	29.51%	9.37%	12.74%	-15.20%	-13.08%	-16.17%	13.80%		0.82%	<-IRR #YR->	10	Revenue	8.46%
5 year Running Average	$2,724.8	$2,561.2	$2,531.8	$2,421.4	$2,368.2	$2,377.2	$2,369	$2,313	$2,280	$2,345	$2,478.8	$2,700.0	$2,799.6	$2,874.0	$2,744.4	$2,621.0		3.92%	<-IRR #YR->	5	Revenue	21.22%
Revenue per Share	$8.88	$8.55	$9.54	$7.98	$8.33	$8.01	$7.91	$8.47	$7.79	$10.04	$11.10	$10.87	$9.56	$8.31	$6.97	$7.93		1.01%	<-IRR #YR->	10	5 yr Running Average	10.58%
Increase	-25.43%	-3.77%	11.61%	-16.31%	4.30%	-3.75%	-1.31%	7.15%	-8.09%	28.94%	10.55%	-2.06%	-12.04%	-13.08%	-16.17%	13.80%		3.89%	<-IRR #YR->	5	5 yr Running Average	21.02%
5 year Running Average	$12.35	$10.97	$10.33	$9.37	$8.65	$8.48	$8.35	$8.14	$8.10	$8.44	$9.06	$9.65	$9.87	$9.98	$9.36	$8.73		0.03%	<-IRR #YR->	10	Revenue per Share	0.26%
P/S (Price/Sales) Med	2.00	1.74	1.30	1.03	0.68	0.95	0.84	0.92	1.07	1.21	1.16	1.11	1.51	2.06	0.00	0.00		2.45%	<-IRR #YR->	5	Revenue per Share	12.87%
P/S (Price/Sales) Close	1.70	1.58	1.10	0.62	0.89	0.93	0.71	1.10	1.24	1.40	1.09	1.01	2.13	1.66	1.98	1.74		-0.46%	<-IRR #YR->	10	5 yr Running Average	-4.47%
*Revenue in M CDN $					P/S Med	20 yr	1.40	15 yr	1.16	10 yr	1.05	5 yr	1.16		57.49%	Diff M/C		3.93%	<-IRR #YR->	5	5 yr Running Average	21.28%
			-$2,623	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,845
								-$2,347	$0	$0	$0	$0	$2,845
			-$2,532	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,800
								-$2,313	$0	$0	$0	$0	$2,800
			-$9.54	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.56
								-$8.47	$0.00	$0.00	$0.00	$0.00	$9.56
			-$10.33	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.87
								-$8.14	$0.00	$0.00	$0.00	$0.00	$9.87
AFFO*	-$0.25	$0.33	$0.94	$0.80	$1.04	$0.97	$1.83	$1.54	$1.30	$2.08	$3.55	$3.29	$1.87	$1.62	$1.67			98.94%	<-Total Growth	10	AFFO	Fr TD
Increase	-114.88%	-232.00%	184.85%	-14.89%	30.00%	-6.73%	88.66%	-15.85%	-15.58%	60.00%	70.67%	-7.32%	-43.16%	-13.37%	3.09%			10	0	10	Years of Data, AFFP, P or N	100.00%
AFFO Yield	-1.7%	2.4%	8.9%	16.3%	14.0%	13.0%	32.7%	16.6%	13.4%	14.8%	29.3%	29.9%	9.2%	11.8%	12.1%			7.12%	<-IRR #YR->	10	AFFO	98.94%
5 year Running Average				$0.70	$0.57	$0.82	$1.12	$1.24	$1.34	$1.54	$2.06	$2.35	$2.42	$2.48	$2.40			3.96%	<-IRR #YR->	5	AFFO	21.43%
Payout Ratio	-470.00%	356.06%	88.30%	90.00%	28.85%	16.49%	8.74%	10.39%	12.88%	8.53%	5.63%	6.69%	12.57%	15.43%	15.57%			14.77%	<-IRR #YR->	9	5 yr Running Average	2.81%
5 year Running Average				144.57%	146.85%	78.06%	38.89%	24.27%	14.18%	10.69%	8.40%	7.87%	8.27%	8.72%	9.71%			14.36%	<-IRR #YR->	5	5 yr Running Average	2.81%
Price/AFFO Median	-71.08	45.11	13.16	10.28	5.43	7.87	3.63	5.06	6.44	5.83	3.64	3.67	7.73	10.58	0.00			5.63	<-Median->	10	P/AFFO Med
Price/AFFO High	-85.48	51.09	15.89	15.40	7.25	8.57	4.22	6.49	8.63	6.95	4.25	4.25	10.99	12.90	0.00			7.10	<-Median->	10	P/AFFO High
Price/AFFO Low	-56.68	39.12	10.44	5.16	3.62	7.16	3.04	3.63	4.25	4.71	3.03	3.09	4.47	8.27	0.00			3.94	<-Median->	10	P/AFFO Low
Price/AFFO Close	-60.48	40.85	11.19	6.14	7.14	7.68	3.05	6.03	7.44	6.75	3.41	3.35	10.87	8.51	8.25			6.45	<-Median->	10	P/AFFO Close
Trailing P/AFFO Close	9.00	-53.92	31.88	5.22	9.29	7.16	5.76	5.07	6.28	10.81	5.82	3.10	6.18	7.37	8.51			6.00	<-Median->	10	Trailing P/AFFO Close
* Adjusted Funds From Operations (TD)		DPR	10 Yrs	11.48%	5 Yrs	8.53%	P/CF	5 Yrs	in order	5.83	6.95	4.25	6.75		45.86%	Diff M/C		51.03%	Diff M/C	10	DPR 75% to 95% best
			-$0.94	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.87
								-$1.54	$0.00	$0.00	$0.00	$0.00	$1.87
				-$0.70	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.42
								-$1.24	$0.00	$0.00	$0.00	$0.00	$2.42
FFO Amount	$788	$729	$762	$740	$736	$804	$927	$757	$685	$971	$1,346	$1,351	$810	$722	$665			6.30%	<-Total Growth	10	FFO Amount
FFO per Share Calculated	$3.35	$2.76	$2.79	$2.64	$2.56	$2.79	$3.23	$2.67	$2.49	$3.58	$4.98	$4.98	$2.69					-3.63%	<-Total Growth	10	FFO per Share Calculated
FFO*	$3.35	$2.76	$2.79	$2.64	$2.65	$2.79	$3.23	$2.67	$2.49	$3.58	$4.98	$4.98	$2.69	$2.43	$2.23			-3.58%	<-Total Growth	10	FFO
Increase	-7.97%	-17.61%	1.09%	-5.38%	0.38%	5.28%	15.77%	-17.34%	-6.74%	43.78%	39.11%	0.00%	-45.98%	-9.67%	-8.23%			10	0	10	Years of Data, AFFP, P or N	100.00%
FFO Yield	22.2%	20.5%	26.5%	53.8%	35.7%	37.4%	57.8%	28.8%	25.7%	25.5%	41.1%	45.2%	13.2%	17.6%	16.2%			-0.36%	<-IRR #YR->	10	FFO	-3.58%
5 year Running Average	$3.67	$3.39	$3.22	$3.04	$2.84	$2.73	$2.82	$2.80	$2.77	$2.95	$3.39	$3.74	$3.74	$3.73	$3.46			0.15%	<-IRR #YR->	5	FFO	0.75%
Payout Ratio	35.07%	42.57%	29.75%	27.27%	11.32%	5.73%	4.95%	5.99%	6.73%	4.96%	4.02%	4.42%	8.74%	10.29%	11.66%			1.35%	<-IRR #YR->	10	5 yr Running Average	31.92%
5 year Running Average	31.25%	34.39%	34.13%	33.33%	29.60%	23.37%	15.39%	10.73%	6.85%	5.59%	5.10%	4.95%	5.34%	5.80%	6.73%			6.01%	<-IRR #YR->	5	5 yr Running Average	33.91%
Price/FFO Median	5.30	5.39	4.44	3.12	2.13	2.73	2.06	2.92	3.36	3.39	2.60	2.42	5.37	7.06	0.00			2.83	<-Median->	10	P/FFO Med
Price/FFO High	6.38	6.11	5.35	4.67	2.85	2.98	2.39	3.74	4.51	4.04	3.03	2.81	7.64	8.60	0.00			3.39	<-Median->	10	P/FFO High
Price/FFO Low	4.23	4.68	3.52	1.56	1.42	2.49	1.72	2.09	2.22	2.74	2.16	2.04	3.10	5.51	0.00			2.13	<-Median->	10	P/FFO Low
Price/FFO Close	4.51	4.88	3.77	1.86	2.80	2.67	1.73	3.48	3.88	3.92	2.43	2.21	7.56	5.67	6.18			2.74	<-Median->	10	P/FFO Close
Trailing P/FFO Close	4.88	4.44	4.48	2.95	2.14	2.88	2.38	2.41	3.13	4.87	3.61	2.42	2.90	6.37	0.00			2.89	<-Median->	10	Trailing P/FFO Close
Median Values		DPR	10 Yrs	8.79%	5 Yrs	5.34%	P/CF	5 Yrs	in order	3.36	4.04	2.22	3.88		68.70%	Diff M/C		100.65%	Diff M/C	10	DPR 75% to 95% best
* Funds From Operations (search for)
			-$2.79	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.69
								-$2.67	$0.00	$0.00	$0.00	$0.00	$2.69
			-$3.22	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.06	$0.00	$0.00	$3.74
								-$2.80	$0.00	$0.00	$0.00	$0.00	$3.74
														$0.27	<-12 mths	-54.24%			Estimates		Last 12 months from Qtr
Difference Basic and Diluted	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	Difference Basic and Diluted
EPS Basic	-$2.61	-$0.27	$0.52	-$0.09	$0.41	-$0.66	-$0.86	$0.18	-$1.22	-$2.13	$0.01	$2.33	$0.59					13.46%	<-Total Growth	10	EPS Basic
EPS Diluted*	-$2.61	-$0.27	$0.52	-$0.09	$0.41	-$0.66	-$0.86	$0.18	-$1.22	-$2.13	$0.01	$2.33	$0.59	$0.37	$0.46	$0.32		13.46%	<-Total Growth	10	EPS Diluted
Increase	-299.24%	89.66%	292.59%	-117.31%	555.56%	-260.98%	-30.30%	120.93%	-777.78%	-74.59%	100.47%	23200.00%	-74.68%	-37.80%	25.34%	-31.52%		5	5	10	Years of Data, EPS P or N	50.00%
Earnings Yield	-17.3%	-2.0%	4.9%	-1.8%	5.5%	-8.9%	-15.4%	1.9%	-12.6%	-15.2%	0.1%	21.1%	2.9%	2.7%	3.3%	2.3%		1.27%	<-IRR #YR->	10	Earnings per Share	13.46%
5 year Running Average	$0.36	$0.07	-$0.01	-$0.23	-$0.41	-$0.02	-$0.14	-$0.20	-$0.43	-$0.94	-$0.80	-$0.17	-$0.08	$0.23	$0.75	$0.81		26.80%	<-IRR #YR->	5	Earnings per Share	227.78%
10 year Running Average	$0.67	$0.52	$0.48	$0.37	$0.39	$0.17	-$0.04	-$0.11	-$0.33	-$0.67	-$0.41	-$0.15	-$0.14	-$0.10	-$0.09	$0.00		23.72%	<-IRR #YR->	10	5 yr Running Average	-740.00%
* ESP per share (Cdn GAAP)									E/P	10 Yrs	-0.88%	5Yrs	0.08%					-16.26%	<-IRR #YR->	5	5 yr Running Average	58.82%
			-$0.52	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.59
								-$0.18	$0.00	$0.00	$0.00	$0.00	$0.59
			$0.01	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$0.08
								$0.20	$0.00	$0.00	$0.00	$0.00	-$0.08
Dividend Estimate														$0.26	$0.27	$0.28			Estimates		Dividend Estimate
Increase														10.17%	4.29%	1.85%			Estimates		Increase
Payout Ratio EPS														70.54%	58.70%	87.30%			Estimates		Payout Ratio EPS
Special Dividend	$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 Dividend
Dividend*	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$0.24	$0.25	$0.26	$0.26		-71.69%	<-Total Growth	10	Dividends
Increase	1.29%	0.00%	-29.36%	-13.25%	-58.33%	-46.67%	0.00%	0.00%	4.69%	5.97%	12.68%	10.00%	6.82%	6.38%	4.00%	0.00%		12	4	37	Years of data, Count P, N	32.43%
Average Increases 5 Year Running	3.34%	1.74%	-5.61%	-8.26%	-19.93%	-29.52%	-29.52%	-23.65%	-20.06%	-7.20%	4.67%	6.67%	8.03%	8.37%	7.98%	5.44%		-14.10%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$1.15	$1.17	$1.10	$1.01	$0.84	$0.64	$0.43	$0.30	$0.19	$0.17	$0.17	$0.19	$0.20	$0.22	$0.23	$0.25		-81.82%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	6.61%	7.89%	6.71%	8.75%	5.31%	2.10%	2.41%	2.05%	2.00%	1.46%	1.55%	1.82%	1.63%	1.46%				2.03%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	5.50%	6.97%	5.56%	5.84%	3.98%	1.93%	2.07%	1.60%	1.49%	1.23%	1.32%	1.57%	1.14%	1.20%				1.59%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	8.29%	9.10%	8.46%	17.43%	7.98%	2.30%	2.88%	2.86%	3.03%	1.81%	1.86%	2.17%	2.81%	1.87%				2.34%	<-Average	5	Yield on Low Price	AFFO
Yield on Close Price	7.77%	8.72%	7.89%	14.66%	4.04%	2.15%	2.86%	1.72%	1.73%	1.26%	1.65%	2.00%	1.16%	1.81%	1.89%	1.89%		1.86%	<-Median->	10	Yield on Close Price	FFO
Payout Ratio EPS	0.00%	0.00%	159.62%	0.00%	73.17%	0.00%	0.00%	88.89%	0.00%	0.00%	2000.00%	9.44%	39.83%	68.12%	56.52%	82.54%		4.72%	<-Median->	10	DPR EPS	CFPS
DPR EPS 5 Yr Running	322.19%	1766.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	92.76%	31.01%	30.16%		0.00%	<-Median->	10	DPR EPS 5 Yr Running	FCF 1
Payout Ratio CFPS	57.55%	41.19%	28.67%	47.33%	11.61%	7.36%	7.27%	5.22%	6.44%	4.81%	6.11%	4.64%	8.78%	11.19%	12.59%	10.08%		6.85%	<-Median->	10	DPR CF	FCF 2
DPR CF 5 Yr Running	34.46%	40.66%	37.74%	40.76%	35.31%	26.48%	19.08%	12.99%	7.50%	6.01%	5.83%	5.32%	5.89%	6.51%				10.25%	<-Median->	10	DPR CF 5 Yr Running
Payout Ratio CFPS WC	52.32%	45.61%	31.57%	30.34%	12.87%	6.22%	6.79%	6.09%	7.37%	5.82%	4.49%	5.07%	9.22%	11.19%	12.59%	10.08%		6.51%	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running	33.99%	38.01%	37.61%	37.64%	34.55%	25.52%	17.70%	12.24%	7.79%	6.41%	5.86%	5.52%	6.00%	6.51%	7.45%	8.90%		10.02%	<-Median->	10	DPR CF WC 5 Yr Running
Median 5 yrs	10 Yr Med	10 Yr Cl	2.03%	1.86%	5 Yr Med	5 Yr Cl	1.63%	1.65%	5 Yr Med	Payout	9.44%	6.11%	5.82%					7.99%	<-IRR #YR->	5	Dividends
* Dividends per share	10 Yr Med	and Cur.	-6.94%	1.21%	5 Yr Med	and Cur.	16.02%	14.25%	Last Div Inc --->		$0.0550	$0.0600	9.09%					-11.85%	<-IRR #YR->	10	Dividends
Dividends Growth 15																		-10.10%	<-IRR #YR->	15	Dividends
Dividends Growth 20																		-6.98%	<-IRR #YR->	20	Dividends
Dividends Growth 25																		-5.63%	<-IRR #YR->	25	Dividends
Dividends Growth 30																		-4.65%	<-IRR #YR->	30	Dividends
Dividends Growth 35																		-4.00%	<-IRR #YR->	35	Dividends
Dividends Growth 40																		-3.62%	<-IRR #YR->	37	Dividends
Dividends Growth 5								-$0.16	$0.00	$0.00	$0.00	$0.00	$0.24								Dividends Growth 5
Dividends Growth 10			-$0.83	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.24								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	$0.24								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	$0.24								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	$0.24								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	$0.24								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	$0.24								Dividends Growth 35
Dividends Growth 40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.24								Dividends Growth 40
Historical Dividends	Historical	High Div	8.50%	Low Div	1.48%	10 Yr High	16.49%	10 Yr Low	1.15%	Med Div	5.35%	Close Div	5.44%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-77.80%		27.49%	Exp.	-88.56%		64.07%	Exp.	-64.73%	Exp.	-65.32%								High/Ave/Median
Future Dividend Yield					Div Yd	2.77%	earning in	5	Years	at IRR of	7.99%	Div Inc.	46.87%								Future Dividend Yield
Future Dividend Yield					Div Yd	4.07%	earning in	10	Years	at IRR of	7.99%	Div Inc.	115.72%								Future Dividend Yield
Future Dividend Yield					Div Yd	5.98%	earning in	15	Years	at IRR of	7.99%	Div Inc.	216.84%								Future Dividend Yield
Future Dividend Paid					Div Paid	$0.38	earning in	5	Years	at IRR of	7.99%	Div Inc.	46.87%								Future Dividend Paid
Future Dividend Paid					Div Paid	$0.56	earning in	10	Years	at IRR of	7.99%	Div Inc.	115.72%								Future Dividend Paid
Future Dividend Paid					Div Paid	$0.82	earning in	15	Years	at IRR of	7.99%	Div Inc.	216.84%								Future Dividend Paid
Dividend Covering Cost					Total Div	$1.53	over	5	Years	at IRR of	7.99%	Div Cov.	11.07%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$3.38	over	10	Years	at IRR of	7.99%	Div Cov.	24.55%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$6.11	over	15	Years	at IRR of	7.99%	Div Cov.	44.36%								Dividend Covering Cost
I am earning GC					Div Gr	-71.74%	7/27/87	# yrs ->	37	1987	$14.49	Cap Gain	-4.90%								I am earning GC
I am earning Div					org yield	6.35%	12/31/14	Trading	Div G Yrly	-4.50%	Div start	$0.92	-6.35%	1.79%							I am earning Div
I am earning GC					Div Gr	-77.59%	2/11/09	# yrs ->	15	2009	$21.70	Cap Gain	-36.50%								I am earning GC
I am earning Div					org yield	5.35%	12/31/14	Trading	Div G Yrly	-22.43%	Div start	$1.16	-5.35%	1.20%							I am earning Div
Yield if held 5 years	4.08%	4.04%	3.83%	3.30%	1.41%	0.90%	1.07%	1.29%	2.04%	3.14%	2.62%	3.31%	3.02%	2.99%	2.14%	2.01%		2.33%	<-Median->	10	Paid Median Price
Yield if held 10 years	5.80%	6.72%	4.90%	3.25%	1.23%	0.56%	0.55%	0.74%	0.77%	0.83%	1.13%	1.48%	1.90%	3.04%	4.60%	3.41%		0.98%	<-Median->	10	Paid Median Price
Yield if held 15 years	6.21%	5.39%	4.44%	4.03%	1.22%	0.79%	0.91%	0.94%	0.76%	0.73%	0.69%	0.76%	1.08%	1.15%	1.22%	1.46%		0.85%	<-Median->	10	Paid Median Price
Yield if held 20 years	8.87%	8.35%	5.65%	5.16%	1.85%	0.85%	0.73%	0.86%	0.94%	0.72%	0.99%	1.26%	1.39%	1.13%	1.07%	0.90%		0.96%	<-Median->	10	Paid Median Price
Yield if held 25 years	8.39%	8.25%	6.51%	5.59%	2.26%	1.14%	1.09%	1.15%	1.03%	0.94%	0.92%	1.18%	1.31%	1.01%	1.28%	1.49%		1.14%	<-Median->	10	Paid Median Price
Yield if held 30 years						1.12%	1.14%	1.12%	1.31%	1.38%	1.51%	1.56%	1.60%	1.79%	1.60%	1.37%		1.35%	<-Median->	8	Paid Median Price
Yield if held 35 years											1.39%	1.57%	1.65%	1.96%	2.02%	1.96%		1.57%	<-Median->	3	Paid Median Price
Yield if held 40 years																1.81%		#NUM!	<-Median->	0	Paid Median Price
Cost covered if held 5 years	19.91%	20.03%	25.37%	23.22%	19.68%	17.92%	14.58%	12.12%	11.52%	14.60%	11.34%	13.92%	12.84%	12.93%	9.60%	9.48%		14.25%	<-Median->	10	Paid Median Price
Cost covered if held 10 years	52.96%	62.36%	63.36%	47.19%	40.16%	30.96%	27.49%	32.29%	27.56%	23.54%	22.79%	20.79%	20.20%	24.68%	35.22%	27.39%		27.53%	<-Median->	10	Paid Median Price
Cost covered if held 15 years	83.09%	72.98%	84.17%	86.49%	59.90%	68.67%	74.76%	72.21%	51.47%	43.55%	33.96%	30.66%	36.90%	32.53%	29.00%	29.68%		55.68%	<-Median->	10	Paid Median Price
Cost covered if held 20 years	155.66%	148.03%	140.71%	146.41%	121.60%	99.92%	82.94%	92.19%	91.79%	63.25%	72.94%	80.05%	78.11%	56.35%	48.34%	38.22%		87.36%	<-Median->	10	Paid Median Price
Cost covered if held 25 years	177.80%	183.71%	179.44%	198.43%	191.23%	179.70%	163.46%	150.92%	153.21%	126.69%	104.49%	87.18%	97.54%	97.85%	67.98%	78.98%		152.06%	<-Median->	10	Paid Median Price
Cost covered if held 30 years						200.00%	199.21%	189.96%	205.86%	197.63%	186.23%	170.03%	157.73%	160.98%	133.87%	110.96%		193.80%	<-Median->	8	Paid Median Price
Cost covered if held 35 years											206.03%	205.82%	196.98%	214.35%	206.68%	195.47%		205.82%	<-Median->	3	Paid Median Price
Cost covered if held 40 years																214.57%		#NUM!	<-Median->	0	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$2,347.0	$2,101.0	$2,721.0	$2,976.0	$3,355.0	$2,845.0					21.22%	<-Total Growth	5	Revenue Growth	21.22%
AFFO Growth								$1.54	$1.30	$2.08	$3.55	$3.29	$1.87					21.43%	<-Total Growth	5	FFO Growth	21.43%
Net Income Growth								$52.0	-$336.0	-$576.0	$4.0	$644.0	$177.0	$82	<-12 mths	-53.79%		240.38%	<-Total Growth	5	Net Income Growth	240.38%
Cash Flow Growth								$849.0	$702.0	$1,001.0	$877.0	$1,464.0	$796.0					-6.24%	<-Total Growth	5	Cash Flow Growth	-6.24%
Dividend Growth								$0.16	$0.17	$0.18	$0.20	$0.22	$0.24	$0.25	<-12 mths	6.38%		46.88%	<-Total Growth	5	Dividend Growth	46.88%
Stock Price Growth								$9.28	$9.67	$14.05	$12.11	$11.02	$20.33	$13.78	<-12 mths	-32.22%		119.07%	<-Total Growth	5	Stock Price Growth	119.07%
Revenue Growth			$2,623.0	$2,267.0	$2,397.0	$2,307.0	$2,249.0	$2,347.0	$2,101.0	$2,721.0	$2,976.0	$3,355.0	$2,845.0	$2,473	<-this year	-13.08%		8.46%	<-Total Growth	10	Revenue Growth	8.46%
AFFO Growth			$0.94	$0.80	$1.04	$0.97	$1.83	$1.54	$1.30	$2.08	$3.55	$3.29	$1.87	$1.62	<-this year	-13.37%		98.94%	<-Total Growth	10	FFO Growth	98.94%
Net Income Growth			$141.0	-$24.0	$117.0	-$190.0	-$228.0	$52.0	-$336.0	-$576.0	$4.0	$644.0	$177.0	$137	<-this year	-22.88%		25.53%	<-Total Growth	10	Net Income Growth	25.53%
Cash Flow Growth			$796.0	$432.0	$744.0	$626.0	$626.0	$849.0	$702.0	$1,001.0	$877.0	$1,464.0	$796.0	$665	<-this year	-16.47%		0.00%	<-Total Growth	10	Cash Flow Growth	0.00%
Dividend Growth			$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$0.24	$0.26	<-this year	10.17%		-71.69%	<-Total Growth	10	Dividend Growth	-71.69%
Stock Price Growth			$10.52	$4.91	$7.43	$7.45	$5.59	$9.28	$9.67	$14.05	$12.11	$11.02	$20.33	$13.78	<-this year	-32.22%		93.25%	<-Total Growth	10	Stock Price Growth	93.25%
Dividends on Shares				$69.12	$28.80	$15.36	$15.36	$15.36	$16.08	$17.04	$19.20	$21.12	$22.56	$24.00	$24.96	$24.96		$240.00	No of Years	10	Total Dividends	12/31/14
Paid			$1,009.92	$471.36	$713.28	$715.20	$536.64	$890.88	$928.32	$1,348.80	$1,162.56	$1,057.92	$1,951.68	$1,322.88	$1,322.88	$1,322.88		$1,951.68	No of Years	10	Worth	$10.52
Total																		$2,191.68			Total
Dividends on Shares									$18.09	$19.17	$21.60	$23.76	$25.38	$27.00	$28.08	$28.08		$108.00	No of Years	5	Total Dividends	12/31/19
Paid								$1,002.24	$1,044.36	$1,517.40	$1,307.88	$1,190.16	$2,195.64	$1,488.24	$1,488.24	$1,488.24		$2,195.64	No of Years	5	Worth	$9.28
Total																		$2,303.64			Total
Graham Price FFO	$25.68	$22.18	$23.12	$22.49	$17.13	$22.80	$22.92	$20.93	$17.11	$13.79	$8.38	$14.70	$12.79	$12.16	$11.64	$0.00		-44.19%	<-Total Growth	10	Graham Price FFO
Price/GP Ratio Med	0.69	0.67	0.54	0.37	0.33	0.33	0.29	0.37	0.49	0.88	1.54	0.82	1.13	1.41				0.43	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	0.83	0.76	0.65	0.55	0.44	0.36	0.34	0.48	0.66	1.05	1.80	0.95	1.61	1.72				0.60	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	0.55	0.58	0.42	0.18	0.22	0.30	0.24	0.27	0.32	0.71	1.28	0.69	0.65	1.10				0.31	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	0.59	0.61	0.45	0.22	0.43	0.33	0.24	0.44	0.57	1.02	1.45	0.75	1.59	1.13	1.18	#DIV/0!		0.50	<-Median->	10	Price/GP Ratio
Prem/Disc Close	-41.13%	-39.23%	-54.50%	-78.17%	-56.63%	-67.32%	-75.61%	-55.65%	-43.49%	1.87%	44.52%	-25.03%	58.96%	13.36%	18.34%	#DIV/0!		-49.57%	<-Median->	10	Graham Price
Graham Price EPS	$10.12	$9.63	$9.98	$9.98	$6.74	$8.74	$8.16	$5.43	$4.60	$3.09	$0.38	$10.05	$5.99	$4.72	$5.29	$4.38		-40.00%	<-Total Growth	10	Graham Price EPS
Price/GP Ratio Med	1.76	1.55	1.24	0.82	0.84	0.87	0.81	1.43	1.82	3.92	34.42	1.20	2.41	3.63				1.32	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	2.11	1.75	1.50	1.23	1.12	0.95	0.95	1.84	2.44	4.68	40.21	1.39	3.43	4.42				1.61	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	1.40	1.34	0.98	0.41	0.56	0.80	0.68	1.03	1.20	3.17	28.63	1.01	1.39	2.84				1.02	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	1.49	1.40	1.05	0.49	1.10	0.85	0.68	1.71	2.10	4.54	32.25	1.10	3.39	2.92	2.61	3.15		1.41	<-Median->	10	Price/GP Ratio
Prem/Disc Close	49.42%	40.01%	5.39%	-50.82%	10.27%	-14.76%	-31.53%	70.80%	110.19%	354.30%	3125.13%	9.61%	239.42%	191.70%	160.55%	214.86%		40.53%	<-Median->	10	Graham Price
Pre-split 1988
Price Close	$15.12	$13.48	$10.52	$4.91	$7.43	$7.45	$5.59	$9.28	$9.67	$14.05	$12.11	$11.02	$20.33	$13.78	$13.78	$13.78		93.25%	<-Total Growth	10	Stock Price
Increase	-28.07%	-10.85%	-21.96%	-53.33%	51.32%	0.27%	-24.97%	66.01%	4.20%	45.29%	-13.81%	-9.00%	84.48%	-32.22%	0.00%	0.00%		-27.37	<-Median->	10	CAPE (10 Yr P/E)
P/E	-5.79	-49.93	20.23	-54.56	18.12	-11.29	-6.50	51.56	-7.93	-6.60	1211.00	4.73	34.46	37.55	29.96	43.75		16.98%	<-IRR #YR->	5	Stock Price	119.07%
Trailing P/E	11.54	-5.16	-38.96	9.44	-82.56	18.17	-8.47	-10.79	53.72	-11.52	-5.69	1102.00	8.73	23.36	37.55	29.96		6.81%	<-IRR #YR->	10	Stock Price	93.25%
CAPE (10 Yr P/E)	33.99	43.11	44.77	52.57	45.04	88.08	-371.86	-108.36	-31.75	-14.49	-22.99	-60.95	-70.72	-112.62	-125.47	2,937.86		18.55%	<-IRR #YR->	5	Price & Dividend	131.57%
Median 10, 5 Yrs		D.  per yr	1.98%	1.57%	% Tot Ret	22.52%	8.47%	T P/E	$1.52	$8.73	P/E:	-$0.89	$4.73					8.79%	<-IRR #YR->	10	Price & Dividend	124.90%
Price 15		D.  per yr	2.54%		% Tot Ret	160.45%						CAPE Diff	-237.18%					-0.96%	<-IRR #YR->	15	Stock Price	-13.42%
Price  20		D.  per yr	3.99%		% Tot Ret	86.99%												0.60%	<-IRR #YR->	20	Stock Price	12.63%
Price  25		D.  per yr	5.38%		% Tot Ret	78.65%												1.46%	<-IRR #YR->	25	Stock Price	43.67%
Price  30		D.  per yr	5.55%		% Tot Ret	83.05%												1.13%	<-IRR #YR->	30	Stock Price	40.21%
Price  35		D.  per yr	5.82%		% Tot Ret	85.08%												1.02%	<-IRR #YR->	35	Stock Price	42.67%
Price  40		D.  per yr	5.83%		% Tot Ret	86.10%												0.94%	<-IRR #YR->	37	Stock Price
Price & Dividend 15																		1.58%	<-IRR #YR->	15	Price & Dividend	25.60%
Price & Dividend 20																		4.59%	<-IRR #YR->	20	Price & Dividend	91.52%
Price & Dividend 25																		6.84%	<-IRR #YR->	25	Price & Dividend	179.65%
Price & Dividend 30																		6.68%	<-IRR #YR->	30	Price & Dividend	206.76%
Price & Dividend 35																		6.84%	<-IRR #YR->	35	Price & Dividend	246.53%
Price & Dividend 40																		6.77%	<-IRR #YR->	37	Price & Dividend
Price  5								-$9.28	$0.00	$0.00	$0.00	$0.00	$20.33								Price  5
Price 10			-$10.52	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.33								Price 10
Price & Dividend 5								-$9.28	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 5
Price & Dividend 10			-$10.52	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								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	$20.33								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	$20.33								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	$20.33								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	$20.33								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	$20.33								Price  35
Price  40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.33								Price  40
Price & Dividend 15	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 15
Price & Dividend 20	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 20
Price & Dividend 25	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 25
Price & Dividend 30	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 30
Price & Dividend 35	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 35
Price & Dividend 40	$1.18	$1.18	$0.83	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$20.57								Price & Dividend 40
Price H/L Median	$17.77	$14.89	$12.38	$8.23	$5.65	$7.63	$6.65	$7.79	$8.37	$12.13	$12.93	$12.06	$14.45	$17.15				16.77%	<-Total Growth	10	Stock Price
Increase	-16.75%	-16.24%	-16.86%	-33.54%	-31.31%	35.04%	-12.91%	17.23%	7.45%	44.92%	6.55%	-6.69%	19.82%	18.65%				1.56%	<-IRR #YR->	10	Stock Price	16.77%
P/E	-6.81	-55.13	23.80	-91.39	13.78	-11.56	-7.73	43.28	-6.86	-5.69	1292.50	5.18	24.49	46.72				13.15%	<-IRR #YR->	5	Stock Price	85.49%
Trailing P/E	13.56	-5.70	-45.83	15.82	-62.78	18.61	-10.07	-9.06	46.50	-9.94	-6.07	1206.00	6.20	29.06				3.52%	<-IRR #YR->	10	Price & Dividend	43.68%
P/E on Running 5 yr Average	49.92	225.53	-1237.50	-36.07	-13.85	-423.89	-48.86	-38.19	-19.47	-12.93	-16.08	-72.65	-172.02	73.46				15.15%	<-IRR #YR->	5	Price & Dividend	100.39%
P/E on Running 10 yr Average	26.60	28.90	25.84	22.29	14.56	45.15	-189.86	-72.80	-25.44	-18.02	-31.45	-79.87	-100.35	-174.42				15.26	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	1.96%	1.99%	% Tot Ret	55.59%	13%	T P/E	0.07	6.20	P/E:	-0.26	5.18						Count	37	Years of data
			-$12.38	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$14.45
								-$7.79	$0.00	$0.00	$0.00	$0.00	$14.45
			-$12.38	$0.72	$0.30	$0.16	$0.16	$0.16	$0.17	$0.18	$0.20	$0.22	$14.69
								-$7.79	$0.17	$0.18	$0.20	$0.22	$14.69
High Month	Jan	Jan	Feb	Apr	Dec	Jul	Aug	Apr	Feb	Nov	Jul	Aug	Dec	Jan
Price High	$21.37	$16.86	$14.94	$12.32	$7.54	$8.31	$7.73	$9.99	$11.22	$14.46	$15.10	$13.97	$20.55	$20.89				37.55%	<-Total Growth	10	Stock Price
Increase	-8.05%	-21.10%	-11.39%	-17.54%	-38.80%	10.21%	-6.98%	29.24%	12.31%	28.88%	4.43%	-7.48%	47.10%	1.65%				3.24%	<-IRR #YR->	10	Stock Price	37.55%
P/E	-8.19	-62.44	28.73	-136.89	18.39	-12.59	-8.99	55.50	-9.20	-6.79	1510.00	6.00	34.83	56.92				15.52%	<-IRR #YR->	5	Stock Price	105.71%
Trailing P/E	16.31	-6.46	-55.33	23.69	-83.78	20.27	-11.71	-11.62	62.33	-11.85	-7.09	1397.00	8.82	35.41				21.19	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	0.87	8.82	P/E:	-0.40	6.00					28.06	P/E Ratio		Historical High
			-$14.94	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$20.55
								-$9.99	$0.00	$0.00	$0.00	$0.00	$20.55
Low Month	Sep	Jun	Dec	Dec	Jan	Apr	Dec	Jan	Mar	Jan	Oct	Oct	Apr	Mar
Price Low	$14.17	$12.91	$9.81	$4.13	$3.76	$6.95	$5.56	$5.59	$5.52	$9.80	$10.75	$10.15	$8.35	$13.40				-14.88%	<-Total Growth	10	Stock Price
Increase	-27.15%	-8.89%	-24.01%	-57.90%	-8.96%	84.84%	-20.00%	0.54%	-1.25%	77.54%	9.69%	-5.58%	-17.73%	60.48%				-4.26%	<-IRR #YR->	10	Stock Price	-14.88%
P/E	-5.43	-47.81	18.87	-45.89	9.17	-10.53	-6.47	31.06	-4.52	-4.60	1075.00	4.36	14.15	36.51				8.47%	<-IRR #YR->	5	Stock Price	49.37%
Trailing P/E	10.82	-4.95	-36.33	7.94	-41.78	16.95	-8.42	-6.50	30.67	-8.03	-5.05	1015.00	3.58	22.71				14.85	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	-5.77	-$5.05	P/E:	-0.08	4.36					-4.52	P/E Ratio		Historical Low
			-$12.91	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.35
								-$5.56	$0.00	$0.00	$0.00	$0.00	$8.35
Free Cash Flow old				-$70	$365	$237	$523	$418	$202	$512	-$72	$576
Change					621.43%	-35.07%	120.68%	-20.08%	-51.67%	153.47%	-114.06%	900.00%
Free Cash Flow MS	-$222	$172	$275	$280	$290	$290	$280	$280	$270	$270	$270	$310	$300	$485	$487	$703		9.09%	<-Total Growth	10	Free Cash Flow
Change					3.57%	0.00%	-3.45%	0.00%	-3.57%	0.00%	0.00%	14.81%	-3.23%	61.50%	0.52%	44.25%		1.39%	<-IRR #YR->	5	Free Cash Flow MS	7.14%
FCF/CF from Op Ratio				0.65	0.39	0.46	0.45	0.33	0.38	0.27	0.31	0.21	0.38	0.73	0.79	0.92		0.87%	<-IRR #YR->	10	Free Cash Flow MS	9.09%
Dividends paid	$104	$116	$140	$124	$69	$46	$46	$45	$47	$48	$54	$58	$71	$74	$77	$77		-49.29%	<-Total Growth	10	Dividends paid
Percentage paid				44.29%	23.79%	15.86%	16.43%	16.07%	17.41%	17.78%	20.00%	18.71%	23.67%	15.35%	15.88%	11.01%		$0.18	<-Median->	10	Percentage paid
5 Year Coverage								23.24%	17.94%	16.69%	17.52%	18.00%	19.58%	18.68%	18.08%	15.68%					5 Year Coverage
Dividend Coverage Ratio				2.26	4.20	6.30	6.09	6.22	5.74	5.63	5.00	5.34	4.23	6.51	6.30	9.08		5.48	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage								4.30	5.57	5.99	5.71	5.56	5.11	5.35	5.53	6.38					5 Year of Coverage
								-$280	$0	$0	$0	$0	$300
			-$275	$0	$0	$0	$0	$0	$0	$0	$0	$0	$300
Free Cash Flow WSJ				$44	$386	$288	$543	$432	$216	$521	-$41	$589	$485	$485	$487	$703		1002.27%	<-Total Growth	9	Free Cash Flow WSJ
Change					777.27%	-25.39%	88.54%	-20.44%	-50.00%	141.20%	-107.87%	1536.59%	-17.66%	-0.10%	0.52%	44.25%		2.34%	<-IRR #YR->	5	Free Cash Flow MS	12.27%
FCF/CF from Op Ratio				0.10	0.52	0.46	0.87	0.51	0.31	0.52	-0.05	0.40	0.61	0.73	0.79	0.92		30.56%	<-IRR #YR->	9	Free Cash Flow MS	#DIV/0!
Dividends paid				$124	$69	$46	$46	$45	$47	$48	$54	$58	$71	$74	$77	$77		#DIV/0!	<-Total Growth	9	Dividends paid
Percentage paid				281.82%	17.88%	15.97%	8.47%	10.42%	21.76%	9.21%	0.00%	9.85%	14.64%	15.35%	15.88%	11.01%		$0.13	<-Median->	10	Percentage paid
5 Year Coverage				281.82%	44.88%	33.29%	22.60%	19.49%	13.57%	11.60%	14.36%	14.68%	15.71%	14.98%	16.70%	13.03%					5 Year Coverage
Dividend Coverage Ratio				0.35	5.59	6.26	11.80	9.60	4.60	10.85	-0.76	10.16	6.83	6.51	6.30	9.08		6.55	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage				0.35	2.23	3.00	4.42	5.13	7.37	8.62	6.96	6.81	6.37	6.68	5.99	7.67					5 Year of Coverage
								-$432	$0	$0	$0	$0	$485
				-$44	$0	$0	$0	$0	$0	$0	$0	$0	$485
Free Cash Flow Mkt Sc									$358	$521	-$72	$890	$569	$485	$487	$703
Change										45.53%	-113.82%	1336.11%	-36.07%	-14.85%	0.52%	44.25%
Free Cash Flow Company (TA)	$258	$295	$796	$239	$257	$328	$524	$435	$358	$562	$961	$890	$569	$485	$487	$703		-28.52%	<-Total Growth	10	Free Cash Flow Company
Change		14.34%	169.83%	-69.97%	7.53%	27.63%	59.76%	-16.98%	-17.70%	56.98%	71.00%	-7.39%	-36.07%	-14.85%	0.52%	44.25%		74.07%	<-Total Growth	10	FCF per Share
FCF per Share	$1.10	$1.12	$1.08	$0.85	$0.89	$1.14	$1.83	$1.54	$1.30	$2.07	$3.55	$3.22	$1.88	$2.07	$2.07	$2.07		5.52%	<-IRR #YR->	5	Free Cash Flow MS	30.80%
FCF/CF from Op Ratio	0.50	0.39	1.00	0.55	0.35	0.52	0.84	0.51	0.51	0.56	1.10	0.61	0.71	0.73	0.79	0.92		-3.30%	<-IRR #YR->	10	Free Cash Flow MS	-28.52%
Dividends paid	$104	$116	$140	$124	$69	$46	$46	$45	$47	$48	$54	$58	$71	$74	$77	$77		-49.29%	<-Total Growth	10	Dividends paid
Percentage paid	40.31%	39.32%	17.59%	51.88%	26.85%	14.02%	8.78%	10.34%	13.13%	8.54%	5.62%	6.52%	12.48%	15.35%	15.88%	11.01%		$0.11	<-Median->	10	Percentage paid
5 Year Coverage	40.31%	39.78%	26.69%	30.48%	29.97%	25.85%	19.82%	18.51%	13.30%	10.51%	8.45%	7.86%	8.32%	8.81%	9.87%	11.43%					5 Year Coverage
Dividend Coverage Ratio	2.48	2.54	5.69	1.93	3.72	7.13	11.39	9.67	7.62	11.71	17.80	15.34	8.01	6.51	6.30	9.08		8.84	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage	2.48	2.51	3.75	3.28	3.34	3.87	5.04	5.40	7.52	9.51	11.83	12.72	12.01	11.35	10.13	8.75					5 Year of Coverage
								-$435	$0	$0	$0	$0	$569
			-$796	$0	$0	$0	$0	$0	$0	$0	$0	$0	$569
Market Cap	$3,851	$3,615	$2,893	$1,394	$2,139	$2,145	$1,590	$2,571	$2,609	$3,808	$3,247	$3,401	$6,048	$4,100	$4,100	$4,100		109.06%	<-Total Growth	10	Market Cap
Diluted # of Shares in Million	235	264	273	280	288	288	287	283	275	271	271	276	302	302				10.62%	<-Total Growth	10	Diluted
Change	5.86%	12.34%	3.41%	2.56%	2.86%	0.00%	-0.35%	-1.39%	-2.83%	-1.45%	0.00%	1.85%	9.42%	0.00%				0.00%	<-Median->	10	Change
Difference Diluted/Basic	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%				0.00%	<-Median->	10	Difference Diluted/Basic
Basic # of Shares in Millions	235	264	273	280	288	288	287	283	275	271	271	276	302	302				10.62%	<-Total Growth	10	Basic
Change	5.86%	12.34%	3.41%	2.56%	2.86%	0.00%	-0.35%	-1.39%	-2.83%	-1.45%	0.00%	1.85%	9.42%	0.00%				0.00%	<-Median->	10	Change
Difference Basic/Outstanding	8.4%	1.6%	0.7%	1.4%	0.0%	0.0%	-0.9%	-2.1%	-1.9%	0.0%	-1.1%	11.8%	-1.5%	-1.5%				-0.47%	<-Median->	10	Difference Basic/Outstanding
# of Share in M	254.7	268.2	275.0	284.0	287.9	287.9	284.4	277.0	269.8	271.0	268.1	308.6	297.5	297.5	297.5	297.5		0.79%	<-IRR #YR->	10	Shares	8.18%
Increase	13.91%	5.30%	2.54%	3.27%	1.37%	0.00%	-1.22%	-2.60%	-2.60%	0.44%	-1.07%	15.11%	-3.60%	0.00%	0.00%	0.00%		1.44%	<-IRR #YR->	5	Shares	7.40%
CF fr Op $M	$520.0	$765.0	$796.0	$432	$744	$626	$626	$849	$702	$1,001	$877	$1,464	$796	$664.9	$614.3	$767.6		0.00%	<-Total Growth	10	Cash Flow
Increase	-25.07%	47.12%	4.05%	-45.73%	72.22%	-15.86%	0.00%	35.62%	-17.31%	42.59%	-12.39%	66.93%	-45.63%	-16.47%	-7.61%	24.94%		SO, DRIP	Shares Issues
5 year Running Average	$728.60	$674.00	$717.20	$641	$651	$673	$645	$655	$709	$761	$811	$979	$968	$960.58	$883.25	$861.36		34.97%	<-Total Growth	10	CF 5 Yr Running
CFPS	$2.04	$2.85	$2.89	$1.52	$2.58	$2.17	$2.20	$3.06	$2.60	$3.69	$3.27	$4.74	$2.68	$2.24	$2.07	$2.58		-7.56%	<-Total Growth	10	Cash Flow per Share
Increase	-34.22%	39.71%	1.48%	-47.45%	69.89%	-15.86%	1.23%	39.25%	-15.11%	41.96%	-11.44%	45.02%	-43.60%	-16.47%	-7.61%	24.94%		0.00%	<-IRR #YR->	10	Cash Flow	0.00%
5 year Running Average	$3.33	$2.87	$2.91	$2.48	$2.38	$2.41	$2.28	$2.31	$2.53	$2.75	$2.97	$3.48	$3.40	$3.32	$3.00	$2.86		-1.28%	<-IRR #YR->	5	Cash Flow	-6.24%
P/CF on Med Price	8.70	5.22	4.28	5.41	2.19	3.51	3.02	2.54	3.22	3.28	3.95	2.54	5.40	7.67	0.00	0.00		-0.78%	<-IRR #YR->	10	Cash Flow per Share	-7.56%
P/CF on Closing Price	7.41	4.73	3.63	3.23	2.88	3.43	2.54	3.03	3.72	3.80	3.70	2.32	7.60	6.17	6.67	5.34		-2.68%	<-IRR #YR->	5	Cash Flow per Share	-12.70%
															89.69%	Diff M/C		1.54%	<-IRR #YR->	10	CFPS 5 yr Running	16.56%
Excl.Working Capital CF	$52.00	-$74.00	-$73.00	$242.00	-$73.00	$114	$44	-$121	-$89	-$174	$316	-$124	-$38	$0.00	$0.00	$0.00		8.03%	<-IRR #YR->	5	CFPS 5 yr Running	47.12%
CF fr Op $M WC	$572.0	$691.0	$723.0	$674	$671	$740	$670	$728	$613	$827	$1,193	$1,340	$758	$664.9	$614.3	$767.6		4.84%	<-Total Growth	10	Cash Flow less WC
Increase	-29.30%	20.80%	4.63%	-6.78%	-0.45%	10.28%	-9.46%	8.66%	-15.80%	34.91%	44.26%	12.32%	-43.43%	-12.28%	-7.61%	24.94%		0.47%	<-IRR #YR->	10	Cash Flow less WC	4.84%
5 year Running Average	$744.20	$716.80	$715.60	$694	$666	$700	$696	$697	$684	$716	$806	$940	$946	$956.58	$914.05	$828.96		0.81%	<-IRR #YR->	5	Cash Flow less WC	4.12%
CFPS Excl. WC	$2.25	$2.58	$2.63	$2.37	$2.33	$2.57	$2.36	$2.63	$2.27	$3.05	$4.45	$4.34	$2.55	$2.24	$2.07	$2.58		2.83%	<-IRR #YR->	10	CF less WC 5 Yr Run	32.22%
Increase	-37.93%	14.72%	2.04%	-9.73%	-1.79%	10.28%	-8.35%	11.56%	-13.55%	34.31%	45.82%	-2.42%	-41.32%	-12.28%	-7.61%	24.94%		6.32%	<-IRR #YR->	5	CF less WC 5 Yr Run	35.83%
5 year Running Average	$3.37	$3.07	$2.92	$2.69	$2.43	$2.50	$2.45	$2.45	$2.43	$2.58	$2.95	$3.35	$3.33	$3.33	$3.13	$2.75		-0.31%	<-IRR #YR->	10	CFPS - Less WC	-3.09%
P/CF on Med Price	7.91	5.78	4.71	3.47	2.42	2.97	2.82	2.96	3.68	3.97	2.90	2.78	5.67	7.67	0.00	0.00		-0.62%	<-IRR #YR->	5	CFPS - Less WC	-3.05%
P/CF on Closing Price	6.73	5.23	4.00	2.07	3.19	2.90	2.37	3.53	4.26	4.60	2.72	2.54	7.98	6.17	6.67	5.34		1.31%	<-IRR #YR->	10	CFPS 5 yr Running	13.95%
*Operational Cash Flow per share			CF/-WC	P/CF Med	10 yr	3.25	5 yr	3.28	P/CF Med	10 yr	2.97	5 yr	3.68		107.86%	Diff M/C		6.33%	<-IRR #YR->	5	CFPS 5 yr Running	35.94%
Chnge in non-Cash WC
			-275.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	297.50								Shares
								-277.00	0.00	0.00	0.00	0.00	297.50								Shares
			-$796.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$796.0								Cash Flow
								-$849.0	$0.0	$0.0	$0.0	$0.0	$796.0								Cash Flow
			-$2.89	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.68								Cash Flow per Share
								-$3.06	$0.00	$0.00	$0.00	$0.00	$2.68								Cash Flow per Share
			-$2.91	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.40								CFPS 5 yr Running
								-$2.31	$0.00	$0.00	$0.00	$0.00	$3.40								CFPS 5 yr Running
			-$723.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$758.0								Cash Flow less WC
								-$728.0	$0.0	$0.0	$0.0	$0.0	$758.0								Cash Flow less WC
			-$715.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$946.2								CF less WC 5 Yr Run
								-$696.6	$0.0	$0.0	$0.0	$0.0	$946.2								CF less WC 5 Yr Run
			-$2.63	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.55								CFPS - Less WC
								-$2.63	$0.00	$0.00	$0.00	$0.00	$2.55								CFPS - Less WC
			-$2.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.33								CFPS 5 yr Running
								-$2.45	$0.00	$0.00	$0.00	$0.00	$3.33								CFPS 5 yr Running
Account Receivalbe				-$77	-$23	-$228	$58	$261	-$79	-$28	-$869	$715	$155
Prepaid expenses				-$3	$5	-$75	$19	$0	$2	$9	$0	$0	$85
Income Taxes Receivable				$1	-$4	$8	$0	-$6	-$4	$0	-$61	$27	$22
Invesntory				-$9	$11	-$7	-$21	-$13	$6	$42	$6	-$2	$34
Accounts payable Acc liab and prov				-$152	$81	$186	-$97	-$130	$160	$153	$548	-$550	-$273
Income Tax Payable				-$2	$3	$2	-$3	$9	$4	-$2	$60	-$66	$15
Chnge in non-Cash WC		$74	$73
Sum		$74	$73	-$242	$73	-$114	-$44	$121	$89	$174	-$316	$124	$38
Morningstar		$74	$73	-$242	$73	-$114	-$44	$121	$89	$174	-$316	$124	$38
Difference		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
TD			$73	-$242	$73	-$114
Difference			$0	$0	$0	$0
OPM	22.99%	33.38%	30.35%	19.06%	31.04%	27.13%	27.83%	36.17%	33.41%	36.79%	29.47%	43.64%	27.98%	26.89%				-7.80%	<-Total Growth	10	OPM
Increase	-11.79%	45.19%	-9.08%	-37.21%	62.88%	-12.58%	2.58%	29.96%	-7.63%	10.10%	-19.89%	48.08%	-35.88%	-3.90%					Should increase		or be stable.
Diff from Ave.	-24.0%	10.3%	0.3%	-37.0%	2.6%	-10.3%	-8.0%	19.6%	10.4%	21.6%	-2.6%	44.2%	-7.5%	-11.1%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	30.25%	5 Yrs	33.41%					should be	zero, it is a		check on calculations
														$1,239	<-12 mths	-1.13%			Estimates		Last 12 months from Qtr
Adjusted EBITDA		$1,023	$1,036	$645	$1,144	$1,062	$1,161	$984	$917	$1,263	$1,634	$1,632	$1,253	$1,169	$1,045	$1,115		20.95%	<-Total Growth	10	Adjusted EBITDA
Change			1.27%	-37.74%	77.36%	-7.17%	9.32%	-15.25%	-6.81%	37.73%	29.37%	-0.12%	-23.22%	-6.70%	-10.61%	6.70%		-3.47%	<-Median->	10	Change
Margin		44.63%	39.50%	28.45%	47.73%	46.03%	51.62%	41.93%	43.65%	46.42%	54.91%	48.64%	44.04%	47.27%	50.41%	47.27%		46.23%	<-Median->	10	Margin
Long Term Debt	$3,610	$4,130	$3,305	$4,408	$3,722	$2,960	$3,119	$2,699	$3,525	$2,423	$3,475	$2,934	$3,236	$3,236				-2.09%	<-Total Growth	10	Debt	Type
Change	-2.98%	14.40%	-19.98%	33.37%	-15.56%	-20.47%	5.37%	-13.47%	30.60%	-31.26%	43.42%	-15.57%	10.29%	0.00%				-4.05%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio	0.94	1.14	1.14	3.16	1.74	1.38	1.96	1.05	1.35	0.64	1.07	0.86	0.54	0.79				1.21	<-Median->	10	Debt/Market Cap Ratio	Intang/GW
Assets/Current Liabilities Ratio	6.82	11.48	6.78	12.83	9.04	6.41	10.80	8.51	10.42	4.78	3.72	4.97	3.70	3.70				7.46	<-Median->	10	Assets/Current Liabilities Ratio	Liquidity
Debt to Cash Flow (Years)	6.94	5.40	4.15	10.20	5.00	4.73	4.98	3.18	5.02	2.42	3.96	2.00	4.07	4.87				4.40	<-Median->	10	Debt to Cash Flow (Years)	Liq. + CF
																						Debt Ratio
Intangibles	$447	$460	$462	$465	$464	$463	$464	$318	$313	$256	$252	$223	$281	$281				-39.18%	<-Total Growth	10	Intangibles	Leverage
Goodwill	$284	$323	$331	$369	$355	$364	$373	$464	$463	$463	$464	$464	$517	$517				56.19%	<-Total Growth	10	Goodwill	D/E Ratio
Total	$731	$783	$793	$834	$819	$827	$837	$782	$776	$719	$716	$687	$798	$798				0.63%	<-Total Growth	10	Total
Change	1.11%	7.11%	1.28%	5.17%	-1.80%	0.98%	1.21%	-6.57%	-0.77%	-7.35%	-0.42%	-4.05%	16.16%	0.00%				-0.59%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.19	0.22	0.27	0.60	0.38	0.39	0.53	0.30	0.30	0.19	0.22	0.20	0.13	0.19				0.30	<-Median->	10	Intangible/Market Cap Ratio
Current Assets	$938	$747	$854	$1,164	$1,554	$1,709	$1,312	$1,343	$1,902	$2,197	$3,714	$1,580	$1,773	$1,773				Liquidity ratio of 1.5 and up, best
Current Liabilities	$1,385	$852	$1,451	$853	$1,217	$1,608	$873	$1,117	$935	$1,931	$2,888	$1,742	$2,569	$2,569				1.24	<-Median->	10	Ratio
Liquidity	0.68	0.88	0.59	1.36	1.28	1.06	1.50	1.20	2.03	1.14	1.29	0.91	0.69	0.69				1.14	<-Median->	5	Ratio
Liq. with CF aft div	0.84	1.40	0.98	1.63	1.82	1.42	2.17	1.92	2.74	1.63	1.57	1.71	0.97	0.92				1.63	<-Median->	5	Ratio
Liq. CF re  Inv+Div	0.48	0.77	0.82	0.98	1.43	1.42	1.49	1.90	1.58	1.31	1.25	1.16	0.81	0.92				1.25	<-Median->	5	Ratio
Current port. Lg T. Db	$607	$209	$751	$87	$87	$747	$148	$513	$513	$844	$178	$532	$572	$513
Liquidity	1.21	1.16	1.22	1.52	1.38	1.98	1.81	2.22	4.51	2.02	1.37	1.31	0.89	0.86				1.37	<-Median->	5	Ratio
Liq. with CF aft div	1.49	1.86	2.03	1.82	1.96	2.66	2.61	3.56	6.06	2.90	1.67	2.46	1.25	1.15				2.46	<-Median->	5	Ratio
Assets	$9,451	$9,783	$9,833	$10,947	$10,996	$10,304	$9,428	$9,508	$9,747	$9,226	$10,741	$8,659	$9,499	$9,499				Debt Ratio of 1.5 and up, best
Liabilities	$6,111	$6,360	$5,955	$6,557	$7,485	$5,919	$5,294	$5,446	$6,311	$6,633	$8,752	$6,995	$7,656	$7,656				1.51	<-Median->	10	Ratio
Debt Ratio	1.55	1.54	1.65	1.67	1.47	1.74	1.78	1.75	1.54	1.39	1.23	1.24	1.24	1.24				1.24	<-Median->	5	Ratio
Estimates BVPS														$2.96	$3.04	$3.46			Estimates		Estimates BVPS
Estimate Book Value														$880.6	$904.4	$1,029.4			Estimates		Estimate Book Value
P/B Ratio (Close)														4.66	4.53	3.98			Estimates		P/B Ratio (Close)
Difference from 10 year median															250.53%	Diff M/C			Estimates		Difference from 10 yr med.
Check figures											$168	$595							Shareholders Eq		Check figures
Check figures	$9,451	$9,783	$9,833	$10,947	$10,996	$10,304	$9,428	$9,508	$9,747	$9,226	$10,741	$8,659	$9,499	$9,499							Check figures
Total Book Value	$3,340	$3,423	$3,878	$4,390	$3,511	$4,385	$4,134	$4,062	$3,436	$2,593	$1,989	$1,664	$1,843	$1,843				-52.48%	<-Total Growth	10	Total Book Value
Non-controling Int	$330	$517	$594	$1,029	$1,152	$1,059	$1,137	$1,101	$1,084	$1,011	$879	$127	$97	$97				-83.67%	<-Total Growth	10	Non-controling Int
Net Book Value	$3,010	$2,906	$3,284	$3,361	$2,359	$3,326	$2,997	$2,961	$2,352	$1,582	$1,110	$1,537	$1,746	$1,746				-46.83%	<-Total Growth	10	Net Book Value
Net Book Value per Share	$11.82	$10.84	$11.94	$11.83	$8.19	$11.55	$10.54	$10.69	$8.72	$5.84	$4.14	$4.98	$5.87	$5.87				-50.85%	<-Total Growth	10	Net Book Value per Share
P/B Ratio (Median)	1.50	1.37	1.04	0.70	0.69	0.66	0.63	0.73	0.96	2.08	3.12	2.42	2.46	2.92				0.84	<-Median->	10	P/B Ratio (Median)
									P/BV	10 yr Med	0.84	5 yr Med	2.42
Preferred shares	$781	$781	$942	$942	$942	$942	$942	$942	$942	$942	$942	$942	$942	$942							Preferred shares
Book Value	$2,229	$2,125	$2,342	$2,419	$1,417	$2,384	$2,055	$2,019	$1,410	$640	$168	$595	$804	$804	$804	$804		-65.67%	<-Total Growth	10	Book Value
Book Value per Share	$8.75	$7.92	$8.52	$8.52	$4.92	$8.28	$7.23	$7.29	$5.23	$2.36	$0.63	$1.93	$2.70	$2.70	$2.70	$2.70		-68.27%	<-Total Growth	10	Book Value per Share
Change	-27.71%	-9.46%	7.49%	0.01%	-42.22%	68.24%	-12.74%	0.87%	-28.30%	-54.81%	-73.47%	207.69%	40.17%	0.00%	0.00%	0.00%		211.76%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	2.03	1.88	1.45	0.97	1.15	0.92	0.92	1.07	1.60	5.14	20.63	6.25	5.35	6.34	0.00	0.00		1.64	P/B Ratio		Historical Median
P/B Ratio (Close)	1.73	1.70	1.24	0.58	1.51	0.90	0.77	1.27	1.85	5.95	19.33	5.72	7.52	5.10	5.10	5.10		-10.84%	<-IRR #YR->	10	Book Value per Share	-68.27%
Change	-0.49%	-1.53%	-27.39%	-53.33%	161.88%	-40.40%	-14.01%	64.57%	45.33%	221.53%	224.84%	-70.42%	31.62%	-32.22%	0.00%	0.00%		-18.00%	<-IRR #YR->	5	Book Value per Share	-62.92%
Leverage (A/BK)	2.83	2.86	2.54	2.49	3.13	2.35	2.28	2.34	2.84	3.56	5.40	5.20	5.15	5.15				2.98	<-Median->	10	Leverage
Debt/Equity Ratio	1.83	1.86	1.54	1.49	2.13	1.35	1.28	1.34	1.84	2.56	4.40	4.20	4.15	4.15				1.98	<-Median->	10	Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities)									P/BV	10 yr Med	1.37	5 yr Med	5.35		270.90%	Diff M/C
			-$8.52	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.70
								-$7.29	$0.00	$0.00	$0.00	$0.00	$2.70
Comprehensive Income	-$598	$82	$398	$375	$361	-$43	-$86	$131	-$355	-$610	-$263	$893	$444					11.56%	<-Total Growth	10	Comprehensive Income
NCI	$29	$41	$50	$103	$146	$31	$124	$77	$84	$83	$55	$76	$10								NCI
Shareholders	-$627	$41	$348	$272	$215	-$74	-$210	$54	-$439	-$693	-$318	$817	$434					24.71%	<-Total Growth	10	Comprehensive Income
Increase	-3583.33%	106.54%	748.78%	-21.84%	-20.96%	-134.42%	-183.78%	125.71%	-912.96%	-57.86%	54.11%	356.92%	-46.88%					-46.88%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$82	-$18	$3	$10	$50	$160	$110	$51	-$91	-$272	-$321	-$116	-$40					2.23%	<-IRR #YR->	10	Comprehensive Income	24.71%
ROE	-28.1%	1.9%	14.9%	11.2%	15.2%	-3.1%	-10.2%	2.7%	-31.1%	-108.3%	-189.3%	137.3%	54.0%					51.71%	<-IRR #YR->	5	Comprehensive Income	703.70%
5Yr Median	8.3%	1.9%	1.9%	1.9%	11.2%	11.2%	11.2%	2.7%	-3.1%	-10.2%	-31.1%	-31.1%	-31.1%					#NUM!	<-IRR #YR->	10	5 Yr Running Average	-1630.77%
% Difference from NI	2.1%	-157.7%	146.8%	-1233.3%	83.8%	-61.1%	-7.9%	3.8%	30.7%	20.3%	-8050.0%	26.9%	145.2%					#NUM!	<-IRR #YR->	5	5 Yr Running Average	-177.43%
Median Values										Diff	5, 10 yr	12.1%	26.9%					-31.1%	<-Median->	5	Return on Equity
			-$348	$0	$0	$0	$0	$0	$0	$0	$0	$0	$434
								-$54	$0	$0	$0	$0	$434
			-$3	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$40
								-$51	$0	$0	$0	$0	-$40
Current Liability Coverage Ratio	0.41	0.81	0.50	0.79	0.55	0.46	0.77	0.65	0.66	0.43	0.41	0.77	0.30	0.26							CFO / Current Liabilities
5 year Median	0.67	0.68	0.67	0.68	0.55	0.55	0.55	0.65	0.65	0.65	0.65	0.65	0.43	0.41				60.2%	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio	6.05%	7.06%	7.35%	6.16%	6.10%	7.18%	7.11%	7.66%	6.29%	8.96%	11.11%	15.48%	7.98%	7.00%							CFO / Total Assets
5 year Median	7.91%	7.47%	7.35%	7.06%	6.16%	7.06%	7.11%	7.11%	7.11%	7.18%	7.66%	8.96%	8.96%	8.96%				7.4%	<-Median->	10	Return on Assets
Return on Assets ROA	-6.50%	-0.73%	1.43%	-0.22%	1.06%	-1.84%	-2.42%	0.55%	-3.45%	-6.24%	0.04%	7.44%	1.86%	1.44%				Net	Income/Assets		Return on Assets
5Yr Median	2.20%	1.85%	1.43%	-0.22%	-0.22%	-0.22%	-0.22%	-0.22%	-1.84%	-2.42%	-2.42%	0.04%	0.04%	1.44%				-0.1%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE	-27.55%	-3.34%	6.02%	-0.99%	8.26%	-7.97%	-11.09%	2.58%	-23.83%	-90.00%	2.38%	108.24%	22.01%	16.98%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	7.72%	6.18%	6.02%	-0.99%	-0.99%	-0.99%	-0.99%	-0.99%	-7.97%	-11.09%	-11.09%	2.38%	2.38%	16.98%				0.7%	<-Median->	10	Return on Equity
														$82	<-12 mths	-53.79%			Estimates		Last 12 months from Qtr
Net Income	-$546	-$4	$232	$116	$276	-$118	-$90	$176	-$253	-$425	$161	$796	$239					3.02%	<-Total Growth	10	Net Income
NCI	$37	$29	$50	$94	$107	$42	$108	$94	$34	$112	$111	$101	$10					-80.00%	<-Total Growth	10	NCI
Preferred Shareholders	$31	$38	$41	$46	$52	$30	$30	$30	$49	$39	$46	$51	$52					26.83%	<-Total Growth	10	Preferred Shareholders
Shareholders	-$614	-$71	$141	-$24	$117	-$190	-$228	$52	-$336	-$576	$4	$644	$177	$137	$131	$117		25.53%	<-Total Growth	10	Net Income
Increase	-311.72%	88.44%	298.59%	-117.02%	587.50%	-262.39%	-20.00%	122.81%	-746.15%	-71.43%	100.69%	16000.00%	-72.52%	-22.88%	-3.81%	-11.27%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$62	$1	-$7	-$56	-$90	-$5	-$37	-$55	-$117	-$256	-$217	-$42	-$17	$77	$219	$241		2.30%	<-IRR #YR->	10	Net Income	25.53%
Operating Cash Flow	$520	$765	$796	$432	$744	$626	$626	$849	$702	$1,001	$877	$1,464	$796					27.76%	<-IRR #YR->	5	Net Income	240.38%
Investment Cash Flow	-$1,048	-$703	-$292	-$573	-$327	$87	-$394	-$14	-$687	-$472	-$741	-$814	-$520					9.22%	<-IRR #YR->	10	5 Yr Running Ave.	-141.67%
Total Accruals	-$86	-$133	-$363	$117	-$300	-$903	-$460	-$783	-$351	-$1,105	-$132	-$6	-$99					-20.44%	<-IRR #YR->	5	5 Yr Running Ave.	68.13%
Total Assets	$9,451	$9,783	$9,833	$10,947	$10,996	$10,304	$9,428	$9,508	$9,747	$9,226	$10,741	$8,659	$9,499						Balance Sheet		Assets
Accruals Ratio	-0.91%	-1.36%	-3.69%	1.07%	-2.73%	-8.76%	-4.88%	-8.24%	-3.60%	-11.98%	-1.23%	-0.07%	-1.04%					-1.23%	<-Median->	5	Ratio
EPS/CF Ratio	-1.16	-0.10	0.20	-0.04	0.18	-0.26	-0.37	0.07	-0.54	-0.70	0.00	0.54	0.23					-0.02	<-Median->	10	EPS/CF Ratio
			-$141	$0	$0	$0	$0	$0	$0	$0	$0	$0	$177
								-$52	$0	$0	$0	$0	$177
			$7	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$17
								$55	$0	$0	$0	$0	-$17
Change in Close	-28.07%	-10.85%	-21.96%	-53.33%	51.32%	0.27%	-24.97%	66.01%	4.20%	45.29%	-13.81%	-9.00%	84.48%	-32.22%	0.00%	0.00%			Count	32	Years of data
up/down							up		up		up								Count	6	18.75%
Meet Prediction?									Yes									% right	Count	3	50.00%
Financial Cash Flow	$504	-$47	-$503	$149	-$163	-$703	-$651	-$512	$272	-$282	$45	-$1,432	-$291						C F Statement		Financial CF
Total Accruals	-$590	-$86	$140	-$32	-$137	-$200	$191	-$271	-$623	-$823	-$177	$1,426	$192								Accruals
Accruals Ratio	-6.24%	-0.88%	1.42%	-0.29%	-1.25%	-1.94%	2.03%	-2.85%	-6.39%	-8.92%	-1.65%	16.47%	2.02%					-1.65%	<-Median->	5	Ratio
Cash	$27	$27	$43	$54	$305	$314	$89	$411	$703	$947	$1,134	$348	$337	$337							Cash
Cash per Share	$0.11	$0.10	$0.16	$0.19	$1.06	$1.09	$0.31	$1.48	$2.61	$3.49	$4.23	$1.13	$1.13	$1.13				$2.61	<-Median->	5	Cash per Share
Percentage of Stock Price	0.70%	0.75%	1.49%	3.87%	14.26%	14.64%	5.60%	15.99%	26.95%	24.87%	34.93%	10.23%	5.57%	8.22%				24.87%	<-Median->	5	% of Stock Price
Notes:
March 9, 2025.  Last estimates were for 2024,2025 of $2760M, $2424M Revenue, $1.82, $1.83 AFFO, $2.70, $2.69 FFO, $0.36, $0.18 , $0.23 2024/6 EPS,
$0.24, $0.25, $0.25 2024/6 Dividends, $505M, $624M, $781M 20249 FCF, $3.01, $2.38, $2.27 2024/6 CFPS, $1238M, $1147M EBITDA, $2.01, $2.16 BVPS, $85M, $18M for Net Income.
March 17, 2024.  Last estimates were for 2023, 2024 and 2024 or $2517M, $2235M and $2142M for Revenue, $2.37 and $1.99 for AFFO 2023/4, $0.76, $0.20 and -$0.86 for EPS, $.22, $.23 and $.24 for dividends,
$504M, $599M and $642M for FCF, $3.89, $2.77 and $2.61 for CFPS, $2.09, $2.01 and $0.16 for BVPS, $208M, -$45M and -$227M for Net Income.
March 18, 2023.  Last estimates were for 2022, 2023 and 2024 of $2223M, $2144M and $2038M for Revenue, $1.86 and $1.56 2022/2 for AFFO, $0.36, $0.09 and $0.38 for EPS,
$0.20, $0.20 and $0.21 for Dividends, $321, $508 and $508 for FCF, $3.31, $2.56 for 2022/3 for CFPS, $2.50 and $2.40 for 2022/3 BVPS, $53M, $51M and $175M for Net Income.
March 19, 2022. Last estimates were for 2021, 2022 and 2023 of $2034M, $1997M and $2030M for Revenue, $1.30 and $1.54 for AFFO 2021-22,
$0.18. $0.18 and $0.19 for Dividends, $360M, $321M and $208M for FCF, $2.51, $2.56 and $2.33 for CFPS and $3.8M, $6.8M and $72M for Net Income.
March 14, 2020.  Last estimates were for 2019, 2020 and 2021 of $2237, $2097M and $1910M for Revenue, $1.09 and 1.16 for AFFO for 2019 and 2020,
$-$0.02, $-0.02 and $0.54 for EPS, $0.16, $0.16 and $0.16 for Div, $2.64, $2.43 and $2.45 for CFPS and -$35M, $-$87M and $145M for Net Income.
March 19, 2019.  last estimates were for 2018, 2019 and 2020 of $2265M, $2384M and $2152M for Revenue, $1.19 and $1.25 for AFFO for 2018 and 2019,
-$0.03, $0.18 and $0.25 for EPS, $2.80, $3.16 and $2.84 for CFPS and -$13M, $29M and $72M for Net Income.
March 17, 2018.  Last estimates were for 2017, 2018 and 2019 of $2468M, $2514M and $2433M for Revenue, $1.19 and $1.29 AFFO for 2017 and 2018, $0.27,
$0.22 and 0.28 for EPS, $3.01, $3.06 and 2.73 for CFPS and $77M, $60M and $27M for Net Income.
March 12, 2017.  Last estimates were for 2016 of $2639M for Revenue, $0.95 and $1.16 for AFFO for 2016 and 2017, $0.36 for EPS, $2.34 for CFPS and $79M for Net Income.
March 19, 2016.  Last estimates were for 2015 and 2016 of $2551M and $2639M for Revenue, $0.96 and $0.96 forAFFO, $0.29 and $0.36 for EPS, $2.31 and $2.34 for CFPS and $72M and $79M for Net Income.
March 28, 2015.  Last estimates were for 2014 and 2015 of $2407M and $2555M for Revenue, $1.20 and $1.28 for AFFO, $0.52 and $0.59 for EPS, $2.71 and $2.89 for CFPS and $151M and $143M for Net Income.
March 2, 2014.  Last estimates were for 2013 and 2014 of $2346M and $2448M for Revenue, $.90 and $1.52 for AFFO, Br.82 and $.80 for EPS, $3.27 and $3.46 for CF.
November 5, 2013.  No one seems to be admitting it, but dividends were decreased for October 2013 dividend from $.295 to $.29.  Transalta site state dividends at $.29 continuously, but I got $.295.
However, in April 2013 the declared dividend for July 2013 in press releast was for $.29, not $.295 which I got.
March 9, 2013.  Last estimates were for 2012 and 2013 (and 2014) of $2589M and $2652M for Revenue and $1.11 and $1.17 and ($1.36) for EPS and $3.65 and $3.69 for CFPS.
Hopefully the financial results have bottomed out as some analysts feel.  Also, it is felt that the dividend is currently safe.
The information on debt can be quite confusing because they are also using hedging.  However, they do have credit facilites to handle the current portion of their long term debt.
March 30, 2012.  Last estimates I got were for 2011 and 2012 at $2681M and $2655M for Revenue, $1.12 and $1.31 for EPS and $3.36 and $3.48 for CF.
Transalta is going through some tough times. Conclusion is until the company works through its maintenance issues and power prices fully recover, we expect the dividend to provide some support for the stock.
Apr 06, 2010.  Last time I looked I got estimates for 2009 and 2010 of $.94 and $1.12 for earnings and $3.62 and $3.60 and $3.93 for cash flow.
Jan 5, 2010.  Last time I looked this estimates for 2010 and 2011 were $1.10 and $1.33.
Apr 10, 2010, In Jun I got 2009 and 2010 earnings of $1.35 and $1.65 and cash flow of $3.93 and $4.30
Jun 10, 2009.  When I last looked at this stock in Feb 2009, I got an EPS estimate of $1.54.  The estimate has been downgraded because of the move up of the maintainance for Sundance Units 3.  However, earnings for 2010 is up.
Feb 2009 AP 2008.  I have made a reasonable return on this stock.
AP 2007. I have made a reasonable return on this stock at about 9% IRR.  Dividend finally increased in 2008.  Everyone has a hold rating on this stock. Lst 5 yrs Total Growth is 20%IRR.  Keep at present.
This stock gets a D both for value and growth on the Money Sence review.
AP 2006.  TD rates a hold (up from reduced) based on what they expect to happen in 2007 and 2008, but gain only of 2%  Yield is lower than historical low, so you would expect a lower price.
Usually provides a decent rate of return for an company that has electrical producing plants.  EPS could be better.
2006  Feb. TD recommends reduce.
2005.  IRR including all dates, return is 8.34.  Unsteady except for last couple of year, then good.  Keep for now.  Doing what a utility stock should do. Get about 3% from price increase and rest from dividends.
2004.  What I do not like.  Paid more dividend than earnings; Liquity is not good; IRR's are not good. AP 2004 - IRR from 1987 to Apr 2005 is 7.95%
2003.  However, I might be better off replacing some of this with Pembina.  Not doing well.
2002.  This is a utility stock.  Usual rate of return and revenue is 8%.  It is pretty stable.  2002 as a bad year.
Increase in shares seems to be mainly due to Dividend reinvestment and share purchase plan.
Sector:
Power, Utility
What should this stock accomplish?
It should provide a moderate dividend yield and moderate dividend growth over the longer term.
Would I buy this company and Why.
Currently I will continue to hold this as I think that they are working out their problems.  I maybe wrong.
Why am I following this stock.
I am following this stock because I own it.
Why I bought this stock.
I bought this stock in 1987.  It was a utility stock and utility stocks were considered to be good investments.  I sold some in 2000 as the stock price was below what I had paid for it.
I bought some more in February 2009 because it was relatively cheap and it seemed to be recovering.  I sold more in August 2012 as this company was doing poorly again.
By September 2019, I had finally had enough and saw no hope in this stock doing better.  I noticed that MPL Communications had given up hope in 2014.
Dividends
Cycle 1 paying in January, April, July and October.  Dividends are paid at the first of the month.  Dividends are declared by the company, usually the end of 3months prior for shareholders of record two months prior.
That is they are declared at the end of October for policyholders at the end of November  for the following January.
How they make their money
TransAlta Corp is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada,
the United States, and Australia. The company has six reportable segments namely, Hydro, Wind & Solar, Energy Marketing, Gas, Energy Transition segment and Corporate
Segment. The company generates the majority of its revenue from the gas segment.
Daily Buy Sell Adviser  of 27 November 2013.
In a more evenly balanced Canadian Dividend 6-Pak the weak sister remains TransAlta Corp., which we're resolved to stick with through its massive transition from a coal to natural gas-fired electricity generation.
Under the 6-Pak discipline we’ll be needing to add more: If Mr. Buffett and Berkshire Hathaway favour TransAlta, we should like it too.
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	2017	Mar 17	2018	Mar 19	2019	Mar 14	2020	Mar 14	2021	Mar 19	2022	Mar 18	2023	Mar 18	2024			Mar 9	2025
Kousinioris, John								0.179	0.07%	0.279	0.10%	0.381	0.12%	0.502	0.17%			0.629	0.21%		Was officer in 2021	25.20%
CEO - Shares - Amount									$2.519		$3.384		$4.200		$10.208				$8.663
Options - percentage								0.960	0.35%	1.184	0.44%	1.276	0.41%	1.542	0.52%			1.474	0.50%			-4.39%
Options - amount									$13.484		$14.340		$14.060		$31.347				$20.316
Farrell, Dawn Lorraine	0.00%	0.135	0.05%	0.142	0.05%	0.447	0.17%	0.576	0.21%												Ceased insider Mar 2021
CEO - Shares - Amount	$0.00		$0.76		$1.319		$4.319		$8.090
Options - percentage	0.00%	2.081	0.73%	1.310	0.47%	2.933	1.09%	3.149	1.16%
Options - amount	$0.00		$11.63		$12.152		$0.00		$44.237
Hunter, Joel																		0.045	0.02%		Was officer in 2025	#DIV/0!
CFO - Shares - Amount																			$0.620
Options - percentage																		0.328	0.11%			#DIV/0!
Options - amount																			$4.516
Stack, Todd John				0.003	0.00%	0.027	0.01%	0.038	0.01%	0.060	0.02%	0.118	0.04%	0.170	0.06%						was officer in 2019
CFO - Shares - Amount					$0.026		$0.264		$0.538		$0.725		$1.296		$3.460						ceased insider Jun 2024
Options - percentage				0.135	0.05%	0.196	0.07%	0.296	0.11%	0.355	0.13%	0.374	0.12%	0.426	0.14%
Options - amount					$1.254		$1.894		$4.156		$4.301		$4.121		$8.663
van Melle, Blain Mitchell														0.217	0.07%			0.168	0.06%			-22.37%
Officer - Shares - Amount															$4.407				$2.319
Options - percentage														0.260	0.09%			0.259	0.09%			-0.44%
Options - amount															$5.279				$3.562
Fedoretz, Jane Nyla								0.011	0.00%	0.068	0.02%	0.097	0.03%	0.143	0.05%			0.097	0.03%			-32.08%
Officer - Shares - Amount									$0.148		$0.949		$1.074		$2.899				$1.335
Options - percentage								0.359	0.13%	0.370	0.14%	0.333	0.11%	0.407	0.14%			0.309	0.10%			-24.07%
Options - amount									$5.051		$4.477		$3.669		$8.272				$4.257
Gellner, Brett	0.00%	0.066	0.02%	0.066	0.02%	0.167	0.06%	0.116	0.04%	0.116	0.04%										Used to be CFO	#DIV/0!
Officer - Shares - Amount	$0.00		$0.369		$0.613		$1.618		$1.635		$1.409										Last updated Jan 2022
Options - percentage	0.00%	0.686	0.24%	0.871	0.31%	0.954	0.35%	1.012	0.37%	0.428	6.89%										Ceased insider Oct 2023	#DIV/0!
Options - amount	$0.00		$3.837		$8.084		$9.221		$14.215		$5.181
Ambrose, Ronalee Hope		0.002	0.00%	0.008	0.00%	0.009	0.00%	0.009	0.00%	0.009	0.00%	0.008	0.10%	0.009	0.00%						Ceased insider April 2024	-100.00%
Director - Shares - Amount			$0.010		$0.073		$0.086		$0.125		$0.108		$0.087		$0.181
Options - percentage		0.003	0.00%	0.017	0.01%	0.024	0.01%	0.045	0.02%	0.054	0.02%	0.068	0.02%	0.081	0.03%							-100.00%
Options - amount			$0.015		$0.155		$0.231		$0.626		$0.651		$0.748		$1.655
Fohrer, Alan John												0.006	0.00%	0.006	0.00%			0.006	0.00%			0.00%
Director - Shares - Amount													$0.071		$0.130				$0.088
Options - percentage												0.132	0.04%	0.141	0.05%			0.153	0.05%			8.17%
Options - amount													$1.459		$2.867				$2.102
O'Flynn, Thomas Mark														0.005	0.00%			0.005	0.00%			0.00%
Director - Shares - Amount															$0.105				$0.071
Options - percentage														0.021	0.01%			0.030	0.01%			42.33%
Options - amount															$0.435				$0.420
Dielwart, John Patrick						0.000	0.00%	0.017	0.01%	0.031	0.01%	0.043	0.01%	0.050	0.02%			0.060	0.02%			20.25%
Chairman - Shares - Amt							$0.000		$0.242		$0.372		$0.472		$1.016				$0.828
Options - percentage						0.121	0.04%	0.123	0.05%	0.128	0.05%	0.134	0.04%	0.147	0.05%			0.164	0.06%			11.98%
Options - amount							$1.167		$1.731		$1.554		$1.477		$2.986				$2.267
Giffin, Gordon D	0.00%	0.125	0.04%	0.162	0.06%	0.181	0.07%
Chairman - Shares - Amt	$0.00		$0.698		$1.50		$1.749
Options - percentage	0.00%	0.023	0.01%	0.024	0.01%	0.024	0.01%
Options - amount	$0.00		$0.130		$0.22		$0.236
Increase in O/S Shares	0.00%	0.000	0.00%	0.000	0.00%	0.100	0.04%	0.100	0.04%	1.200	0.44%	0.500	0.19%	1.500	0.49%			2.400	0.81%
due to SO	$0.000		$0.000		$0.000		$0.928		$0.967		$16.860		$6.055		$16.530				$48.792
Book Value	$1.000		$1.000		$1.000		$2.000		$3.000		$8.000		$3.000		$11.000				$21.000
Insider Buying	-$0.197		-$0.299		-$0.512		-$6.378		-$3.336		-$0.342		$0.000		-$0.094				-$0.692
Insider Selling	$6.125		$1.869		$0.000		$0.049		$2.243		$4.831		$6.914		$1.872				$8.153
Net Insider Selling	$5.928		$1.569		-$0.512		-$6.329		-$1.092		$4.489		$6.914		$1.778				$7.461
% of Market Cap	0.28%		0.10%		-0.02%		-0.24%		-0.03%		0.14%		0.20%		0.03%				0.18%
Directors		10		10		12		11		12		12		12				12
Women	33%	3	30%	3	30%	4	33%	5	45%	5	42%	5	42%	6	50%			5	42%
Minorities	11%	1	10%	1	10%	1	8%	1	9%	0	0%	1	8%	1	8%			1	8%
Institutions/Holdings												20	18.71%	20	74.80%			20	57.43%
Total Shares Held												50.175	16.26%	229.768	77.23%			170.899	57.45%
Increase/Decrease												-0.309	-0.61%	15.600	7.28%			20.388	13.55%
Starting No. of Shares												50.484	MS 20	214.168	MS 20			150.511	MS 20
Institutions/Holdings		88	53.09%	88	47.80%			88	83.79%	107	60.98%	120	64.56%	154	58.96%			207	66.79%
Total Shares Held		152.854	53.75%	136.061	49.12%			226.429	83.55%	165.402	61.69%	173.222	56.13%	180.983	60.83%			198.770	66.81%
Increase/Decrease		6.474	4.42%	-14.138	-9.41%			3.019	1.35%	2.320	1.42%	-1.565	-0.90%	5.409	3.08%			12.006	6.43%
Starting No. of Shares		146.380	Nasdaq	150.199	Nasdaq			223.409	Nasdaq	163.082	Nasdaq	174.787	Nasdaq	175.574	Nasdaq			186.764	Nasdaq
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My stock
																					Stock Price	Purchases
																		27-Jul-87	-$17,390.00	B	$14.49	1,200
																		06-Apr-00	$5,671.00	S	-$14.18
																		11-Feb-09	-$13,017.99	B	$21.70	600
																		20-Aug-12	$3,198.21	S	-$15.99
																		18-Sep-19	$10,286.01	S
																		01-Oct-19	$0.00		$16.89	1,800
																		-2.98%	XIRR
																		6.12%	Total Return
																		9.10%	Dividend Ret.
																		% from	$52,299.30		Total Value	Gain
																			-$19,155.22		Less Sale of Stock
																			$0.00		Less Stock Value
																		285.59%	$33,144.08		Dividends Paid	109.00%
																			$30,407.99		Cost of Stock
																			$8,869.21		Sale of Stock
																		-185.59%	-$21,538.78		Capital Gains/Loss	-70.83%
																		100.00%	$11,605.30		Total Return	38.17%
																		Start Date	27-Jul-87		Shares	1,200
																		End date	1-Oct-19		Dividends pd per Share	$27.62
																		Years	32.18		Div less cost	$10.73
																					Cost	$16.89
																					% paid by div	163.53%
																		bought	$30,407.99		Bought	Sold
																		sold&val	$8,869.21		-$17,390.00	$5,671.00
																		-70.83%	$21,538.78		-$13,017.99	$3,198.21
																					-$30,407.99	$8,869.21
																		27-Jul-87	-$17,390.00	B	What if I still had shares.
																		06-Apr-00	$5,671.00	S
																		11-Feb-09	-$13,017.99	B
																		20-Aug-12	$3,198.21	S
																		18-Sep-19	$10,286.01	S
																		28-Feb-21	$20,016.00
																		1.24%	XIRR
																		9.10%
																		10.34%
																		Start Date	27-Jul-87
																		End date	28-Feb-21
																		Years	33.59