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/
Capital Power Corp					TSX	CPX	OTC	CPRHF	https://www.capitalpower.com/			Fiscal Yr:	Dec 31
Year	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	12/31/28		Value	Description	#Y	Item	Total G
Accounting Rules					IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Cost of Energy & Fuel												$1,787.0	$2,101.0	$2,410.0	<-12 mths	14.71%					Cost of Energy & Fuel
Change													17.57%	14.71%	<-12 mths	-16.30%					Change
Ratio												0.49	0.58	0.57	<-12 mths	-2.43%					Ratio
Materials & Admin & Finance												$941.0	$939.0	$1,031.0	<-12 mths	9.80%					Materials & Admin & Finance	Excl Dep&Am
Change													-0.21%	9.80%	<-12 mths	4709.80%					Change
Ratio												0.26	0.26	0.24	<-12 mths	-6.61%					Ratio
Total												$2,728.0	$3,040.0	$3,441.0	<-12 mths	13.19%					Total
Change													11.44%	13.19%	<-12 mths	15.33%					Change
Ratio												0.74	0.84	0.81	<-12 mths	-3.72%					Ratio
														$4,250	<-12 mths	14.25%
Revenue*	$1,393	$1,228	$1,251	$1,214	$1,046	$1,249	$1,713	$1,791	$1,757	$2,712	$4,068	$3,677	$3,615	$3,444	$3,151			188.97%	<-Total Growth	10	Revenue
Other income					$100	$145	$250	$146	$233	$217	$214	$214	$105	$121	$136				<-Total Growth	8	Other income
Total Revenue	$1,393	$1,228	$1,251	$1,214	$1,146	$1,394	$1,963	$1,937	$1,990	$2,929	$4,282	$3,891	$3,720	$3,565	$3,287			197.36%	<-Total Growth	10	Revenue
Increase	7.90%	-11.84%	1.87%	-2.96%	-5.60%	21.64%	40.82%	-1.32%	2.74%	47.19%	46.19%	-9.13%	-4.39%	-4.17%	-7.80%			11.51%	<-IRR #YR->	10	Revenue	197.36%
5 year Running Average	$1,429	$1,473	$1,371	$1,275	$1,246	$1,247	$1,394	$1,531	$1,686	$2,043	$2,620	$3,006	$3,362	$3,677	$3,749			13.94%	<-IRR #YR->	5	Revenue	92.05%
Revenue per Share	$17.22	$14.71	$12.85	$12.63	$10.99	$13.68	$18.63	$18.24	$17.13	$25.06	$36.33	$28.00	$23.85	$22.70	$20.93			9.39%	<-IRR #YR->	10	5 yr Running Average	145.29%
Increase	-6.68%	-14.56%	-12.69%	-1.72%	-12.99%	24.56%	36.13%	-2.07%	-6.12%	46.31%	44.98%	-22.94%	-14.81%	-4.85%	-7.80%			17.04%	<-IRR #YR->	5	5 yr Running Average	119.65%
5 year Running Average	$33.50	$27.17	$18.38	$15.17	$13.68	$12.97	$13.75	$14.83	$15.73	$18.55	$23.08	$24.95	$26.07	$27.19	$26.36			6.38%	<-IRR #YR->	10	Revenue per Share	85.67%
P/S (Price/Sales) Med	1.23	1.67	1.65	1.62	2.26	1.91	1.65	1.62	2.28	1.78	1.13	1.84	2.46	2.92	0.00			5.51%	<-IRR #YR->	5	Revenue per Share	30.75%
P/S (Price/Sales) Close	1.24	1.77	1.38	1.84	2.23	1.94	1.85	1.92	2.30	1.85	1.04	2.28	2.45	2.85	3.09			3.56%	<-IRR #YR->	10	5 yr Running Average	41.84%
P/S 10 Year Median	0.85	1.04	1.23	1.24	1.26	1.44	1.63	1.63	1.65	1.66	1.66	1.72	1.81	1.87	1.81			11.94%	<-IRR #YR->	5	5 yr Running Average	75.77%
*Revenue in M CDN $					P/S Med	20 yr	1.65	15 yr	1.65	10 yr	1.81	5 yr	1.84		57.06%	Diff M/C
			-$1,251.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$3,720.0
								-$1,937.0	$0.0	$0.0	$0.0	$0.0	$3,720.0
			-$1,370.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$3,362.4
								-$1,530.8	$0.0	$0.0	$0.0	$0.0	$3,362.4
			-$12.85	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$23.85
								-$18.24	$0.00	$0.00	$0.00	$0.00	$23.85
			-$18.38	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$26.07
								-$14.83	$0.00	$0.00	$0.00	$0.00	$26.07
														$82	<-12 mths	-37.88%
														$0.57	<-12 mths	-35.42%
Normalized Earnings	$127	$59	$111	$117	$104	$115	$140	$128	$221	$424	$710	$665	$132
AEPS* Dilued	$1.74	$0.72	$1.22	$1.15	$1.03	$1.12	$1.34	$1.22	$1.97	$3.64	$6.04	$5.15	$0.88	$2.00	$3.12	$3.65		-28.26%	<-Total Growth	10	AEPS
Increase	34.88%	-58.62%	69.44%	-5.74%	-10.43%	8.74%	19.64%	-8.96%	61.48%	84.77%	66.06%	-14.87%	-82.99%	128.51%	56.00%	16.99%		10	0	10	Years of Data, EPS P or N	100.00%
AEPS Yield	8.17%	2.77%	6.87%	4.95%	4.21%	4.21%	3.90%	3.49%	4.99%	7.86%	15.97%	8.08%	1.49%	3.10%	4.83%	5.65%		-3.27%	<-IRR #YR->	10	AEPS	-28.26%
5 year Running Average	$1.25	$1.28	$1.24	$1.22	$1.17	$1.05	$1.17	$1.17	$1.34	$1.86	$2.84	$3.60	$3.54	$3.54	$3.44	$2.96		-6.43%	<-IRR #YR->	5	AEPS	-28.26%
Payout Ratio	72.41%	181.94%	115.57%	131.30%	156.80%	154.46%	138.43%	160.04%	105.84%	61.06%	38.96%	48.52%	302.39%	138.89%	90.36%	77.24%		11.03%	<-IRR #YR->	10	5 yr Running Average	184.64%
5 year Running Average	93.34%	108.73%	113.84%	119.78%	131.61%	148.02%	139.31%	148.21%	143.11%	123.97%	100.87%	82.88%	111.35%	117.96%	123.82%	131.48%		24.71%	<-IRR #YR->	5	5 yr Running Average	201.64%
Price/AEPS Median	12.17	34.21	17.34	17.77	24.08	23.29	22.95	24.25	19.85	12.26	6.77	10.02	67.12	33.18	0.00	0.00		21.40	<-Median->	10	Price/AEPS Median
Price/AEPS High	12.93	39.69	22.02	21.18	25.59	26.46	26.18	31.78	22.57	14.21	7.73	13.18	84.08	37.98	0.00	0.00		24.08	<-Median->	10	Price/AEPS High
Price/AEPS Low	11.41	28.72	12.66	14.35	22.57	20.13	19.72	16.72	17.13	10.31	5.82	6.86	50.16	28.39	0.00	0.00		16.92	<-Median->	10	Price/AEPS Low
Price/AEPS Close	12.24	36.11	14.57	20.20	23.78	23.74	25.66	28.67	20.03	12.73	6.26	12.38	66.89	32.29	20.70	17.69		21.97	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	16.51	14.94	24.68	19.04	21.30	25.82	30.71	26.10	32.34	23.52	10.40	10.54	11.38	73.78	32.29	20.70		22.41	<-Median->	10	Trailing P/AEPS Close
Median Values	Historical	in order	19.63	22.02	16.72	20.20	P/AEPS	5 Yrs	in order	12.26	14.21	10.31	12.73		163.36%	Diff M/C					DPR 75% to 95% best
* Adjusted Earnings per Share
			-$1.22	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.88
								-$1.22	$0.00	$0.00	$0.00	$0.00	$0.88
			-$1.24	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.54
								-$1.17	$0.00	$0.00	$0.00	$0.00	$3.54
														$1,095.0	<-12 mths	2.72%
														$7.04	<-12 mths	-0.56%
Adjusted Funds from Operations	$426	$362	$400	$307	$363	$397	$555	$522	$605	$848	$819	$817	$1,066
AFFO*	$5.85	$4.40	$4.15	$3.19	$3.58	$3.85	$5.32	$4.96	$5.40	$7.28	$6.99	$6.34	$7.08	$6.00	$6.29			70.62%	<-Total Growth	10	AFFO
Increase	50.39%	-24.82%	-5.65%	-23.11%	12.20%	7.54%	38.18%	-6.77%	8.87%	34.81%	-3.98%	-9.30%	11.67%	-15.25%	4.83%			10	0	10	Years of Data, AFFP, P or N	100.00%
AFFO Yield	27.47%	16.92%	23.35%	13.74%	14.62%	14.48%	15.47%	14.18%	13.68%	15.71%	18.47%	9.95%	12.09%	9.29%	9.74%			5.49%	<-IRR #YR->	10	AFFO	70.62%
5 year Running Average	$6.58	$5.89	$4.44	$4.30	$4.23	$3.83	$4.02	$4.18	$4.62	$5.36	$5.99	$6.19	$6.62	$6.74	$6.54			7.38%	<-IRR #YR->	5	AFFO	42.74%
Payout Ratio	21.54%	29.79%	33.98%	47.32%	45.11%	44.94%	34.87%	39.36%	38.61%	30.53%	33.69%	39.38%	37.38%	46.30%	44.82%			4.08%	<-IRR #YR->	10	5 yr Running Average	49.20%
5 year Running Average	21.07%	25.43%	30.02%	33.00%	35.55%	40.23%	41.24%	42.32%	40.58%	37.66%	35.41%	36.32%	35.92%	37.46%	40.31%			9.62%	<-IRR #YR->	5	5 yr Running Average	58.32%
Price/AFFO Median	3.62	5.60	5.10	6.40	6.93	6.78	5.78	5.96	7.24	6.13	5.86	8.14	8.30	11.06	0.00			6.59	<-Median->	10	P/AFFO Med
Price/AFFO High	3.85	6.50	6.47	7.63	7.36	7.70	6.59	7.82	8.24	7.10	6.68	10.70	10.39	12.66	0.00			7.67	<-Median->	10	P/AFFO High
Price/AFFO Low	3.39	4.70	3.72	5.17	6.49	5.85	4.97	4.11	6.25	5.16	5.04	5.57	6.20	9.46	0.00			5.37	<-Median->	10	P/AFFO Low
Price/AFFO Close	3.64	5.91	4.28	7.28	6.84	6.91	6.46	7.05	7.31	6.36	5.41	10.05	8.27	10.76	10.27			6.98	<-Median->	10	P/AFFO Close
Trailing P/AFFO Close	5.48	4.44	4.04	5.60	7.68	7.43	8.93	6.58	7.96	8.58	5.20	9.12	9.24	9.12	10.76			7.82	<-Median->	10	Trailing P/AFFO Close
Median Values	Historical	in order	5.98	6.96	5.16	6.46	P/AFFO	5 Yrs	in order	7.24	8.24	5.57	7.31		48.63%	Diff M/C					DPR 75% to 95% best
* Adjusted Funds From Operations
			-$4.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.08
								-$4.96	$0.00	$0.00	$0.00	$0.00	$7.08
			-$4.44	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.62
								-$4.18	$0.00	$0.00	$0.00	$0.00	$6.62
														$0.57	<-12 mths	-35.23%
EPS Basic	$2.13	$0.28	$0.70	$0.91	$1.07	$2.25	$0.73	$0.78	$0.39	$0.85	$6.07	$5.16	$0.88					25.71%	<-Total Growth	10	EPS Basic
EPS Diluted*	$2.08	$0.28	$0.70	$0.91	$1.07	$2.25	$0.72	$0.77	$0.39	$0.84	$6.04	$5.15	$0.88	$2.00	$3.12	$3.65		25.71%	<-Total Growth	10	EPS Diluted
Increase	147.62%	-86.54%	150.00%	30.00%	17.58%	110.28%	-68.00%	6.94%	-49.35%	115.38%	619.05%	-14.74%	-82.91%	127.27%	56.00%	16.99%		10	0	10	Years of Data, EPS P or N
Earnings Yield	9.77%	1.08%	3.94%	3.92%	4.37%	8.46%	2.09%	2.20%	0.99%	1.81%	15.96%	8.08%	1.50%	3.10%	4.83%	5.65%		2.31%	<-IRR #YR->	10	Earnings per Share	25.71%
5 year Running Average	$1.18	$1.06	$1.10	$0.96	$1.01	$1.04	$1.13	$1.14	$1.04	$0.99	$1.75	$2.64	$2.66	$2.98	$3.44	$2.96		2.71%	<-IRR #YR->	5	Earnings per Share	14.29%
10 year Running Average						$1.11	$1.09	$1.12	$1.00	$1.00	$1.40	$1.88	$1.90	$2.01	$2.22	$2.36		9.25%	<-IRR #YR->	10	5 yr Running Average	142.26%
* Diluted ESP per share									E/P	10 Yrs	3.06%	5Yrs	1.81%					18.38%	<-IRR #YR->	5	5 yr Running Average	132.52%
			-$0.70	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.88
								-$0.77	$0.00	$0.00	$0.00	$0.00	$0.88
			-$1.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.66
								-$1.14	$0.00	$0.00	$0.00	$0.00	$2.66
Dividend*														$2.79	$2.86				Estimates		Dividend*
Increase														5.41%	2.51%				Estimates		Increase
Payout Ratio EPS														139.50%	91.67%				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
Dividend*	$1.2600	$1.3100	$1.4100	$1.5100	$1.615	$1.730	$1.855	$1.953	$2.085	$2.223	$2.355	$2.4969	$2.6467	$2.7778	$2.8192	$2.8192		87.71%	<-Total Growth	10	Dividends
Increase	0.00%	3.97%	7.63%	7.09%	6.95%	7.12%	7.23%	5.26%	6.79%	6.59%	5.96%	6.03%	6.00%	4.95%	1.49%	0.00%		13	0	16	Years of data, Count P, N
Average Increases 5 Year Running		20.79%	2.32%	3.74%	5.13%	6.55%	7.21%	6.73%	6.67%	6.60%	6.36%	6.12%	6.27%	5.91%	4.89%	3.69%		6.46%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$1.13	$1.27	$1.30	$1.35	$1.42	$1.52	$1.62	$1.73	$1.85	$1.97	$2.09	$2.22	$2.36	$2.50	$2.62	$2.71		74.91%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	5.95%	5.32%	6.67%	7.39%	6.51%	6.63%	6.03%	6.60%	5.33%	4.98%	5.75%	4.84%	4.51%	4.19%				5.89%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	5.60%	4.58%	5.25%	6.20%	6.13%	5.84%	5.29%	5.04%	4.69%	4.30%	5.04%	3.68%	3.60%	3.66%				5.04%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	6.34%	6.33%	9.13%	9.15%	6.95%	7.68%	7.02%	9.57%	6.18%	5.92%	6.69%	7.07%	6.03%	4.89%				6.98%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	5.92%	5.04%	7.93%	6.50%	6.59%	6.51%	5.39%	5.58%	5.28%	4.80%	6.22%	3.92%	4.52%	4.30%	4.37%	4.37%		5.49%	<-Median->	10	Yield on Close Price	AFFO
Payout Ratio EPS	60.58%	467.86%	201.43%	165.93%	150.93%	76.89%	257.64%	253.57%	534.62%	264.58%	38.99%	48.48%	300.76%	138.89%	90.36%	77.24%		$1.66	<-Median->	17	DPR EPS	CFPS
DPR EPS 5 Yr Running	96.10%	120.04%	118.40%	140.33%	140.97%	145.39%	143.72%	151.44%	177.64%	198.09%	119.52%	84.24%	88.77%	83.83%	76.18%	91.62%		$1.40	<-Median->	13	DPR EPS 5 Yr Running	FCF
Payout Ratio CFPS	20.51%	27.96%	32.77%	38.72%	45.29%	39.16%	27.15%	33.93%	27.94%	27.78%	33.77%	30.33%	42.91%	30.71%	30.98%	#DIV/0!		$0.30	<-Median->	17	DPR CF
DPR CF 5 Yr Running	15.17%	18.65%	24.61%	30.01%	31.44%	36.29%	35.28%	35.40%	32.95%	30.33%	29.90%	30.51%	32.05%	32.53%	33.14%	#DIV/0!		$0.31	<-Median->	13	DPR CF 5 Yr Running
Payout Ratio CFPS WC	21.19%	25.25%	28.79%	36.48%	36.70%	31.53%	26.10%	27.75%	28.17%	30.00%	20.76%	32.83%	33.64%	30.71%	30.98%	#DIV/0!		$0.28	<-Median->	17	DPR CF WC
DPR CF WC 5 Yr Running	14.33%	17.06%	21.52%	26.25%	28.91%	31.41%	31.19%	30.75%	29.39%	28.59%	25.98%	27.24%	28.36%	28.89%	29.13%	#DIV/0!		$0.28	<-Median->	13	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	5.89%	5.49%	5 Yr Med	5 Yr Cl	4.98%	4.80%	5 Yr Med	Payout	264.58%	30.33%	30.00%					6.27%	<-IRR #YR->	5	Dividends	35.55%
* Dividends per share	10 Yr Med	and Cur.	-25.91%	-20.45%	5 Yr Med	and Cur.	-12.34%	-9.00%	Last Div Inc --->		$0.6910	$0.7048	2.00%					6.50%	<-IRR #YR->	10	Dividends	87.71%
Dividends Growth 15																		5.07%	<-IRR #YR->	15	Dividends	110.06%
Dividends Growth 20																		4.75%	<-IRR #YR->	16	Dividends
Dividends Growth 5								-$1.95	$0.00	$0.00	$0.00	$0.00	$2.65								Dividends Growth 5
Dividends Growth 10			-$1.41	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.65								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	$2.65								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	$2.65								Dividends Growth 20
Historical Dividends	Historical	High Div	9.24%	Low Div	3.43%	10 Yr High	9.53%	10 Yr Low	3.60%	Med Div	5.51%	Close Div	5.39%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-52.75%	Cheap	27.27%	Exp.	-54.19%		21.26%	Exp.	-20.77%	Exp.	-19.07%								High/Ave/Median
Future Dividend Yield					Div Yd	5.92%	earning in	5	Years	at IRR of	6.27%	Div Inc.	35.55%								Future Dividend Yield
Future Dividend Yield					Div Yd	8.02%	earning in	10	Years	at IRR of	6.27%	Div Inc.	83.75%								Future Dividend Yield
Future Dividend Yield					Div Yd	10.87%	earning in	15	Years	at IRR of	6.27%	Div Inc.	149.08%								Future Dividend Yield
					Div Paid	$3.82	earning in	5	Years	at IRR of	6.27%	Div Inc.	35.55%								Future Dividend Paid
					Div Paid	$5.18	earning in	10	Years	at IRR of	6.27%	Div Inc.	83.75%								Future Dividend Paid
					Div Paid	$7.02	earning in	15	Years	at IRR of	6.27%	Div Inc.	149.08%								Future Dividend Paid
					Total Div	$15.98	over	5	Years	at IRR of	6.27%	Div Cov.	24.74%								Dividend Covering Cost
					Total Div	$33.82	over	10	Years	at IRR of	6.27%	Div Cov.	52.37%								Dividend Covering Cost
					Total Div	$58.00	over	15	Years	at IRR of	6.27%	Div Cov.	89.81%								Dividend Covering Cost
Yield if held 5 years		6.28%	6.17%	6.20%	6.95%	8.17%	7.53%	9.23%	10.21%	8.96%	9.03%	8.12%	8.95%	7.10%	6.32%	6.88%		8.56%	<-Median->	10	Paid Median Price
Yield if held 10 years							8.89%	8.54%	8.57%	9.56%	11.12%	10.14%	12.51%	13.60%	11.37%	10.81%		9.56%	<-Median->	7	Paid Median Price
Yield if held 15 years												11.97%	11.58%	11.41%	12.13%	13.31%		11.77%	<-Median->	2	Paid Median Price
Yield if held 20 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price
Yield if held 25 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price
Cost covered if held 5 years		30.44%	28.43%	27.73%	30.56%	35.76%	32.97%	40.96%	45.22%	39.69%	40.14%	36.14%	39.91%	31.96%	29.34%	33.11%		37.91%	<-Median->	10	Paid Median Price
Cost covered if held 10 years							69.37%	66.33%	65.68%	72.90%	85.20%	78.08%	96.78%	106.39%	92.48%	92.12%		72.90%	<-Median->	7	Paid Median Price
Cost covered if held 15 years												122.64%	117.97%	117.04%	129.23%	149.22%		120.30%	<-Median->	2	Paid Median Price
Cost covered if held 20 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price
Cost covered if held 25 years																#DIV/0!		#NUM!	<-Median->	0	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$1,937	$1,990	$2,929	$4,282	$3,891	$3,720	$4,250	<-12 mths	14.25%		92.05%	<-Total Growth	5	Revenue Growth	92.05%
AEPS Growth								$1.22	$1.97	$3.64	$6.04	$5.15	$0.88	$0.57	<-12 mths	-35.42%		-28.26%	<-Total Growth	5	AEPS Growth	-28.26%
AFFO Growth								$4.96	$5.40	$7.28	$6.99	$6.34	$7.08	$7.04	<-12 mths	-0.56%		42.74%	<-Total Growth	5	AFFO Growth	42.74%
Net Income Growth								$136	$98	$138	$744	$699	$160	$113	<-12 mths	-29.38%		17.65%	<-Total Growth	5	Net Income Growth	17.65%
Cash Flow Growth								$611	$867	$935	$822	$1,144	$962	$1,135	<-12 mths	17.98%		57.45%	<-Total Growth	5	Cash Flow Growth	57.45%
Dividend Growth								$1.95	$2.09	$2.22	$2.36	$2.50	$2.65	$2.78	<-12 mths	4.95%		35.55%	<-Total Growth	5	Dividend Growth	35.55%
Stock Price Growth								$34.98	$39.46	$46.33	$37.84	$63.72	$58.55	$64.58	<-12 mths	10.30%		67.38%	<-Total Growth	5	Stock Price Growth	67.38%
Revenue Growth			$1,251	$1,214	$1,146	$1,394	$1,963	$1,937	$1,990	$2,929	$4,282	$3,891	$3,720	$3,565	<-this year	-4.17%		197.36%	<-Total Growth	10	Revenue Growth	197.36%
AEPS Growth			$1.22	$1.15	$1.03	$1.12	$1.34	$1.22	$1.97	$3.64	$6.04	$5.15	$0.88	$2.00	<-this year	128.51%		-28.26%	<-Total Growth	10	AEPS Growth	-28.26%
AFFO Growth			$4.15	$3.19	$3.58	$3.85	$5.32	$4.96	$5.40	$7.28	$6.99	$6.34	$7.08	$6.00	<-this year	-15.25%		70.62%	<-Total Growth	10	AFFO Growth	70.62%
Net Income Growth			$90	$111	$144	$274	$125	$136	$98	$138	$744	$699	$160	$205	<-this year	28.13%		77.78%	<-Total Growth	10	Net Income Growth	77.78%
Cash Flow Growth			$419	$375	$372	$450	$720	$611	$867	$935	$822	$1,144	$962	$1,421	<-this year	47.69%		129.59%	<-Total Growth	10	Cash Flow Growth	129.59%
Dividend Growth			$1.41	$1.51	$1.62	$1.73	$1.86	$1.95	$2.09	$2.22	$2.36	$2.50	$2.65	$2.79	<-this year	5.41%		87.71%	<-Total Growth	10	Dividend Growth	87.71%
Stock Price Growth			$17.77	$23.23	$24.49	$26.59	$34.39	$34.98	$39.46	$46.33	$37.84	$63.72	$58.55	$64.58	<-this year	10.30%		229.49%	<-Total Growth	10	Stock Price Growth	229.49%
Dividends on Shares				$86.07	$92.06	$98.61	$105.74	$111.29	$118.85	$126.68	$134.24	$142.32	$150.86	$158.33	$160.69	$160.69		$1,166.71	No of Years	10	Total Dividends	12/31/15
Paid			$1,012.89	$1,324.11	$1,395.93	$1,515.63	$1,960.23	$1,993.86	$2,249.22	$2,640.81	$2,156.88	$3,632.04	$3,337.35	$3,681.06	$3,681.06	$3,681.06		$3,337.35	No of Years	10	Worth	$17.77
Total																		$4,504.06			Total Value
Graham Number AEPS	$30.74	$19.64	$25.37	$24.24	$22.14	$23.69	$24.58	$22.44	$28.22	$34.52	$54.64	$58.61	$23.58	$35.04	$43.77	$47.34		-7.06%	<-Total Growth	10	Graham Number AEPS
Increase	17.33%	-36.12%	29.20%	-4.48%	-8.64%	6.99%	3.73%	-8.71%	25.80%	22.32%	58.26%	7.27%	-59.76%	48.59%	24.90%	8.16%		5.36%	<-Median->	10	Graham Price
Price/GP Ratio Med	0.69	1.25	0.83	0.84	1.12	1.10	1.25	1.32	1.39	1.29	0.75	0.88	2.49	1.89	0.00	0.00		1.19	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	0.73	1.46	1.06	1.01	1.19	1.25	1.43	1.73	1.58	1.50	0.85	1.16	3.12	2.17	0.00	0.00		1.34	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.65	1.05	0.61	0.68	1.05	0.95	1.08	0.91	1.20	1.09	0.64	0.60	1.86	1.62	0.00	0.00		1.00	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	0.69	1.32	0.70	0.96	1.11	1.12	1.40	1.56	1.40	1.34	0.69	1.09	2.48	1.84	1.48	1.36		1.23	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	-36.63%	112.30%	-7.54%	7.74%	8.51%	-20.81%	90.90%	96.26%	214.24%	179.36%	-30.72%	8.68%	147.62%	84.30%	47.56%	36.43%		49.79%	<-Median->	10	Graham Price
Based on EPS 3 yrs trailing	$23.03	$28.38	$23.73	$22.83	$17.32	$21.16	$25.21	$23.57	$22.45	$14.32	$18.14	$40.22	$50.48	$49.70	$40.54	$35.04			based on EPS		3 yrs trailing
Graham Number EPS	$33.61	$12.25	$19.22	$21.56	$22.57	$33.58	$18.01	$17.82	$12.56	$16.58	$54.62	$58.63	$23.65	$35.04	$43.77	$47.34		23.02%	<-Total Growth	10	Graham Number EPS
Increase	58.97%	-63.57%	56.94%	12.18%	4.68%	48.78%	-46.35%	-1.06%	-29.55%	32.07%	229.32%	7.35%	-59.67%	48.19%	24.90%	8.16%		6.01%	<-Median->	10	Graham Price
Price/GP Ratio Med	0.63	2.01	1.10	0.95	1.10	0.78	1.71	1.66	3.11	2.69	0.75	0.88	2.48	1.89				1.38	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	0.67	2.33	1.40	1.13	1.17	0.88	1.95	2.18	3.54	3.12	0.86	1.16	3.11	2.17				1.56	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.59	1.69	0.80	0.77	1.03	0.67	1.47	1.14	2.69	2.26	0.64	0.60	1.86	1.62				1.09	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	0.63	2.12	0.92	1.08	1.09	0.79	1.91	1.96	3.14	2.79	0.69	1.09	2.48	1.84	1.48	1.36		1.50	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	-36.63%	112.30%	-7.54%	7.74%	8.51%	-20.81%	90.90%	96.26%	214.24%	179.36%	-30.72%	8.72%	148.29%	84.30%	47.56%	36.43%		49.81%	<-Median->	10	Graham Price
Month, Year	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec	31-Dec		16.00	<Count Years>		Month, Year
Price Close	$21.30	$26.00	$17.77	$23.23	$24.49	$26.59	$34.39	$34.98	$39.46	$46.33	$37.84	$63.72	$58.55	$64.58	$64.58	$64.58		229.49%	<-Total Growth	10	Stock Price
Increase	-6.29%	22.07%	-31.65%	30.73%	5.42%	8.57%	29.33%	1.72%	12.81%	17.41%	-18.33%	68.39%	-8.11%	10.30%	0.00%	0.00%		22.34	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio	10.24	92.86	25.39	25.53	22.89	11.82	47.76	45.43	101.18	55.15	6.26	12.37	66.53	32.29	20.70	17.69		10.85%	<-IRR #YR->	5	Stock Price	67.38%
Trailing P/E Ratio	25.36	12.50	63.46	33.19	26.91	24.85	15.28	48.58	51.25	118.79	45.05	10.55	11.37	73.39	32.29	20.70		12.66%	<-IRR #YR->	10	Stock Price	229.49%
CAPE (10 Yr P/E)						20.90	22.42	22.89	27.07	29.42	22.27	18.51	20.48	21.43	21.26	21.60		16.36%	<-IRR #YR->	5	Price & Dividend	101.13%
Median 10, 5 Yrs		D.  per yr	6.91%	5.51%	% Tot Ret	35.29%	33.67%	T P/E	$30.05	$45.05	P/E:	$35.48	$55.15					19.57%	<-IRR #YR->	10	Price & Dividend	344.67%
Price 15		D.  per yr	4.83%		% Tot Ret	43.69%						CAPE Diff	44.52%					6.23%	<-IRR #YR->	15	Stock Price	147.57%
Price 20		D.  per yr	5.03%		% Tot Ret	43.61%												6.50%	<-IRR #YR->	16	Stock Price
Price & Dividend 15																		11.06%	<-IRR #YR->	15	Price & Dividend	261.60%
Price & Dividend 20																		11.53%	<-IRR #YR->	16	Price & Dividend
Price  5								-$34.98	$0.00	$0.00	$0.00	$0.00	$58.55								Price  5	TD bank
Price 10			-$17.77	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$58.55								Price 10	POW 30
Price & Dividend 5								-$34.98	$2.09	$2.22	$2.36	$2.50	$61.20								Price & Dividend 5
Price & Dividend 10			-$17.77	$1.51	$1.62	$1.73	$1.86	$1.95	$2.09	$2.22	$2.36	$2.50	$61.20								Price & Dividend 10	to year 35
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	$58.55								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	$58.55								Price 20
Price & Dividend 15	$1.26	$1.31	$1.41	$1.51	$1.62	$1.73	$1.86	$1.95	$2.09	$2.22	$2.36	$2.50	$61.20								Price & Dividend 15	Price  35
Price & Dividend 20	$1.26	$1.31	$1.41	$1.51	$1.62	$1.73	$1.86	$1.95	$2.09	$2.22	$2.36	$2.50	$61.20								Price & Dividend 20
Price H/L Median	$21.18	$24.63	$21.15	$20.43	$24.81	$26.09	$30.75	$29.59	$39.11	$44.63	$40.95	$51.58	$58.75	$66.36				177.75%	<-Total Growth	10	Stock Price
Increase	-8.90%	16.29%	-14.13%	-3.40%	21.41%	5.16%	17.88%	-3.79%	32.18%	14.13%	-8.25%	25.96%	13.89%	12.96%				14.70%	<-IRR #YR->	5	Stock Price	98.56%
P/E Ratio	10.18	87.96	30.21	22.45	23.18	11.59	42.71	38.42	100.27	53.13	6.78	10.02	66.76	33.18				10.76%	<-IRR #YR->	10	Stock Price	177.75%
Trailing P/E Ratio	25.21	11.84	75.54	29.19	27.26	24.38	13.67	41.09	50.79	114.44	48.75	8.54	11.41	75.41				20.83%	<-IRR #YR->	5	Price & Dividend	138.47%
P/E on Running 5 yr Average	17.95	23.28	19.26	21.24	24.61	25.03	27.21	25.86	37.60	44.90	23.37	19.55	22.08	22.25				16.92%	<-IRR #YR->	10	Price & Dividend	274.53%
P/E on Running 10 yr Average						23.48	28.11	26.39	39.07	44.59	29.31	27.38	30.89	33.00				27.68	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	6.13%	6.16%	% Tot Ret	29.42%	36.42%	T P/E	28.22	48.75	P/E:	30.80	53.13						Count	16	Years of data
								-$29.59	$0.00	$0.00	$0.00	$0.00	$58.75
			-$21.15	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$58.75
								-$29.59	$2.09	$2.22	$2.36	$2.50	$61.39
			-$21.15	$1.51	$1.62	$1.73	$1.86	$1.95	$2.09	$2.22	$2.36	$2.50	$61.39
High Months	May	Sep	Jan	Dec	Sep	Oct	Dec	Feb	Oct	Aug	Jan	Dec	Nov	Jul
Price High	$22.50	$28.58	$26.86	$24.36	$26.36	$29.63	$35.08	$38.77	$44.47	$51.72	$46.70	$67.85	$73.59	$75.95				173.98%	<-Total Growth	10	Stock Price
Increase	-12.38%	27.02%	-6.02%	-9.31%	8.21%	12.41%	18.39%	10.52%	14.70%	16.30%	-9.71%	45.29%	8.46%	3.21%				13.67%	<-IRR #YR->	5	Stock Price	89.81%
P/E Ratio	10.82	102.07	38.37	26.77	24.64	13.17	48.72	50.35	114.03	61.57	7.73	13.17	83.63	37.98				10.60%	<-IRR #YR->	10	Stock Price	173.98%
Trailing P/E Ratio	26.79	13.74	95.93	34.80	28.97	27.69	15.59	53.85	57.75	132.62	55.60	11.23	14.29	86.31				30.57	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	31.88	55.60	P/E:	37.75	61.57					104.46	P/E Ratio		Historical High
								-$38.77	$0.00	$0.00	$0.00	$0.00	$73.59
			-$26.86	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$73.59
Low Months	Aug	Jan	Dec	Jan	Jan	Feb	Jan	Mar	Mar	Jan	Oct	Apr	Apr	Feb
Price Low	$19.86	$20.68	$15.44	$16.50	$23.25	$22.54	$26.42	$20.40	$33.74	$37.54	$35.20	$35.31	$43.90	$56.77				184.33%	<-Total Growth	10	Stock Price
Increase	-4.61%	4.13%	-25.34%	6.87%	40.91%	-3.05%	17.21%	-22.79%	65.39%	11.26%	-6.23%	0.31%	24.33%	29.32%				16.56%	<-IRR #YR->	5	Stock Price	115.20%
P/E Ratio	9.55	73.86	22.06	18.13	21.73	10.02	36.69	26.49	86.51	44.69	5.83	6.86	49.89	28.39				11.02%	<-IRR #YR->	10	Stock Price	184.33%
Trailing P/E Ratio	23.64	9.94	55.14	23.57	25.55	21.07	11.74	28.33	43.82	96.26	41.90	5.85	8.52	64.51				22.06	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	24.56	41.90	P/E:	24.11	44.69					6.65	P/E Ratio		Historical Low
								-$20.40	$0.00	$0.00	$0.00	$0.00	$43.90
			-$15.44	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$43.90
Free Cash Flow Mkt Sc								$512	$647	$253	$99	$74	$695	$535	$324				<-Total Growth	5	Free Cash Flow Mkt Sc
Change									26.37%	-60.90%	-60.87%	-25.25%	838.92%	-23.06%	-39.36%			-25.25%	<-Median->	5	Change
														$186	<-12 mths	295.74%
Free Cash Flow WSJ							$53	$278	$214	$217	$45	$5	$47						<-Total Growth	6	Free Cash Flow WSJ
Change								424.53%	-23.02%	1.40%	-79.26%	-88.89%	840.00%					-10.81%	<-Median->	6	Change
														$212	<-12 mths	202.86%
Free Cash Flow MS old			$279	$62	$154	$95	$85	$305	$245	$253	$280										Free Cash Flow MS old
Change				-77.78%	148.39%	-38.31%	-10.53%	258.82%	-19.67%	3.27%	10.67%										Change
Free Cash Flow MS	-$444	$171	$260	$40	$190	$130	$0	$270	$140	$50	$280	-$160	$70	$956				-73.08%	<-Total Growth	10	Free Cash Flow
Change	-24.72%	138.51%	52.05%	-84.62%	375.00%	-31.58%	-100.00%	#DIV/0!	-48.15%	-64.29%	460.00%	-157.14%	143.75%	1265.71%				-23.66%	<-IRR #YR->	5	Free Cash Flow MS	-74.07%
FCF/CF from Op Ratio	-0.89	0.44	0.62	0.11	0.51	0.29	0.00	0.44	0.16	0.05	0.34	-0.14	0.07	0.67				-12.30%	<-IRR #YR->	10	Free Cash Flow MS	-73.08%
Dividends paid	$62	$68	$106	$166	$194	$217	$238	$242	$219	$296	$290	$280	$338	$436				218.87%	<-Total Growth	10	Dividends paid
Percentage paid	-13.96%	39.77%	40.77%	415.00%	102.11%	166.92%	#DIV/0!	89.63%	156.43%	592.00%	103.57%	-175.00%	482.86%	45.64%				#DIV/0!	<-Median->	9	Percentage paid
5 Year Coverage		-45.58%	-87.03%	-141.03%	274.65%	94.94%	148.55%	167.78%	152.05%	205.42%	173.65%	228.79%	374.47%	137.15%							5 Year Coverage
Dividend Coverage Ratio	-7.16	2.51	2.45	0.24	0.98	0.60	0.00	1.12	0.64	0.17	0.97	-0.57	0.21	2.19				0.42	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage		-2.19	-1.15	-0.71	0.36	1.05	0.67	0.60	0.66	0.49	0.58	0.44	0.27	0.73							5 Year of Coverage
								-$270.00	0.00	0.00	0.00	0.00	70.00
			-$260.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	70.00
Market Cap in $M	$1,723.0	$2,170.0	$1,730.4	$2,233.6	$2,554.7	$2,708.8	$3,624.1	$3,714.2	$4,585.0	$5,415.4	$4,459.9	$8,855.8	$9,131.6	$10,144.2	$10,144.2	$10,144.2		427.71%	<-Total Growth	10	Market Cap	427.71%
Diluted # of Shares in Million	98.87	82.54	96.39	96.28	101.09	103.33	105.01	105.85	112.81	117.22	117.46	129.23	150.81	155.57	155.57	155.57		56.46%	<-Total Growth	10	Diluted # of Shares in Million
Change	47.96%	-16.51%	16.78%	-0.12%	5.00%	2.22%	1.63%	0.80%	6.57%	3.91%	0.20%	10.02%	16.71%	3.15%	0.00%	0.00%		4.58%	<-IRR #YR->	10	Change
Difference Diluted/Basic	-26.3%	-0.3%	0.0%	-0.1%	-0.3%	-0.3%	-0.7%	-0.5%	-0.7%	-0.6%	-0.3%	-0.2%	-0.2%	0.6%	0.6%	0.6%		7.34%	<-IRR #YR->	5	Difference Diluted/Basic
Change in Diluted Shares per Year
			-96.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	150.8
								-105.9	0.0	0.0	0.0	0.0	150.8
Basic # of Shares in Millions	72.82	82.31	96.39	96.21	100.75	102.98	104.30	105.30	112.05	116.54	117.06	128.90	150.46	156.57	156.57	156.57		56.09%	<-Total Growth	10	Basic
Change	8.98%	13.03%	17.11%	-0.19%	4.71%	2.21%	1.28%	0.96%	6.41%	4.00%	0.45%	10.12%	16.72%	4.06%	0.00%	0.00%		3.11%	<-Median->	10	Change
Difference Basic/Outstanding	11.08%	1.40%	1.02%	-0.06%	3.54%	-1.07%	1.04%	0.83%	3.69%	0.30%	0.69%	7.82%	3.66%	0.33%	0.33%	0.33%		0.94%	<-Median->	10	Difference Basic/Outstanding
														$1,135	<-12 mths	17.98%
# of Share in Millions	80.890	83.461	97.380	96.152	104.314	101.873	105.382	106.181	116.194	116.887	117.863	138.979	155.963	157.080	157.080	157.080		4.82%	<-IRR #YR->	10	Shares	60.16%
Change	15.63%	3.18%	16.68%	-1.26%	8.49%	-2.34%	3.44%	0.76%	9.43%	0.60%	0.83%	17.92%	12.22%	0.72%	0.00%	0.00%		7.99%	<-IRR #YR->	5	Shares	46.88%
Cash Flow from Operations $M	$497	$391	$419	$375	$372	$450	$720	$611	$867	$935	$822	$1,144	$962	$1,421	$1,429			129.59%	<-Total Growth	10	Cash Flow
Increase	105.37%	-21.33%	7.16%	-10.50%	-0.80%	20.97%	60.00%	-15.14%	41.90%	7.84%	-12.09%	39.17%	-15.91%	47.69%	0.61%			SO, BuyBacks	Shares Iss		Pur of Company.
5 year Running Average	$349	$392	$402	$385	$411	$401	$467	$506	$604	$717	$791	$876	$946	$1,057	$1,156			135.32%	<-Total Growth	10	CF 5 Yr Running
CFPS	$6.14	$4.68	$4.30	$3.90	$3.57	$4.42	$6.83	$5.75	$7.46	$8.00	$6.97	$8.23	$6.17	$9.05	$9.10			43.35%	<-Total Growth	10	Cash Flow per Share
Increase	77.61%	-23.75%	-8.16%	-9.36%	-8.56%	23.87%	54.67%	-15.78%	29.67%	7.20%	-12.81%	18.03%	-25.07%	46.64%	0.61%			8.67%	<-IRR #YR->	10	Cash Flow	129.59%
5 year Running Average	$7.47	$6.81	$5.28	$4.50	$4.52	$4.17	$4.60	$4.89	$5.61	$6.49	$7.00	$7.28	$7.37	$7.68	$7.90			9.50%	<-IRR #YR->	5	Cash Flow	57.45%
P/CF on Med Price	3.45	5.26	4.92	5.24	6.96	5.91	4.50	5.14	5.24	5.58	5.87	6.27	9.52	7.34	0.00			3.67%	<-IRR #YR->	10	Cash Flow per Share	43.35%
P/CF on Closing Price	3.47	5.55	4.13	5.96	6.87	6.02	5.03	6.08	5.29	5.79	5.43	7.74	9.49	7.14	7.10			1.40%	<-IRR #YR->	5	Cash Flow per Share	7.19%
															24.70%	Diff M/C		3.38%	<-IRR #YR->	10	CFPS 5 yr Running	39.48%
														$1,403	<-12 mths	14.34%
Excl.Working Capital CF	-$16	$42	$58	$23	$87	$109	$29	$136	-$7	-$69	$515	-$87	$265	$0	$0			8.52%	<-IRR #YR->	5	CFPS 5 yr Running	50.53%
Cash Flow from Operations $M WC	$481	$433	$477	$398	$459	$559	$749	$747	$860	$866	$1,337	$1,057	$1,227	$1,421	$1,429			157.23%	<-Total Growth	10	Cash Flow less WC
Increase	23.97%	-9.98%	10.16%	-16.56%	15.33%	21.79%	33.99%	-0.27%	15.13%	0.70%	54.39%	-20.94%	16.08%	15.79%	0.61%			9.91%	<-IRR #YR->	10	Cash Flow less WC	157.23%
5 year Running Average	$382	$436	$458	$435	$450	$465	$528	$582	$675	$756	$912	$973	$1,069	$1,182	$1,294			10.43%	<-IRR #YR->	5	Cash Flow less WC	64.26%
CFPS Excl. WC	$5.95	$5.19	$4.90	$4.14	$4.40	$5.49	$7.11	$7.04	$7.40	$7.41	$11.34	$7.61	$7.87	$9.05	$9.10			8.86%	<-IRR #YR->	10	CF less WC 5 Yr Run	133.70%
Increase	7.21%	-12.75%	-5.58%	-15.50%	6.30%	24.71%	29.53%	-1.02%	5.21%	0.10%	53.11%	-32.95%	3.44%	14.97%	0.61%			12.92%	<-IRR #YR->	5	CF less WC 5 Yr Run	83.62%
5 year Running Average	$7.92	$7.44	$6.04	$5.14	$4.91	$4.82	$5.21	$5.63	$6.29	$6.89	$8.06	$8.16	$8.33	$8.65	$8.99			4.85%	<-IRR #YR->	10	CFPS - Less WC	60.61%
P/CF on Median Price	3.56	4.75	4.32	4.94	5.64	4.75	4.33	4.21	5.28	6.02	3.61	6.78	7.47	7.34	0.00			2.26%	<-IRR #YR->	5	CFPS - Less WC	11.83%
P/CF on Closing Price	3.58	5.01	3.63	5.61	5.57	4.85	4.84	4.97	5.33	6.25	3.34	8.38	7.44	7.14	7.10			3.26%	<-IRR #YR->	10	CFPS 5 yr Running	37.79%
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	5.73	5 yr	5.87	P/CF Med	10 yr	5.11	5 yr	6.02		39.74%	Diff M/C		8.12%	<-IRR #YR->	5	CFPS 5 yr Running	47.77%
			-97.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	156.0								Shares
								-106.2	0.0	0.0	0.0	0.0	156.0								Shares
			-$419.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$962.0								Cash Flow
								-$611.0	$0.0	$0.0	$0.0	$0.0	$962.0								Cash Flow
			-$4.30	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.17								Cash Flow per Share
								-$5.75	$0.00	$0.00	$0.00	$0.00	$6.17								Cash Flow per Share
			-$5.28	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.37								CFPS 5 yr Running
								-$4.89	$0.00	$0.00	$0.00	$0.00	$7.37								CFPS 5 yr Running
			-$477.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,227.0								Cash Flow less WC
								-$747.0	$0.0	$0.0	$0.0	$0.0	$1,227.0								Cash Flow less WC
			-$457.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,069.4								CF less WC 5 Yr Run
								-$582.4	$0.0	$0.0	$0.0	$0.0	$1,069.4								CF less WC 5 Yr Run
			-$4.90	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.87								CFPS - Less WC
								-$7.04	$0.00	$0.00	$0.00	$0.00	$7.87								CFPS - Less WC
			-$6.04	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$8.33								CFPS 5 yr Running
								-$5.63	$0.00	$0.00	$0.00	$0.00	$8.33								CFPS 5 yr Running
Impairmant												27
Gains on acquisition and disposal	-$76					-$159	-$24
Net finance expense (note				$86	$108	$123	$156				166	221	307
Fair value changes on commodity		-$36	$1	-$12	$41	$67	-$118	$15	$220	429	-321	-238	342
Foreign exchange losses (gains				-$4	-$28	-$10	$5	$0	$9	15	6	29	-21
Income Tax Paid				$30	-$41
Income from joint ventures				-$25	-$31	-$19	-$2		-$9	-32	-65	-76	-77
Recognition of Government Grant										-126
Tax equity attributes									-$88	-83	-71	-76	-76
Other  items		$21	-$17	-$13	-$21	$6	$21		-$30	$39	$13	$44	$34
Change in fair value of derivative instruments			$8	-$31	-$5	$21	$29		-$43	-$213	$249	$13	-$8
Distributions received from joint ventures				$24	$27	$30	$12				$36	$120	$66
Finance lease rec	$78	$17	$19
Interest paid	-$67	-$45	-$80	-$73	-$81	-$96	-$110	-$132	-$111	-$89	-$111	-$163	-$304
Income Tax Paid	$10								$7	-$37	-$214	-$38	-$20
Other cash items				-$25	-$16	-$22	-$67	-$45	-$30	-$13	$13	$15	-$21
Change in non-cash operating working capital
Trade & Other Rec	$108	$25	$11	$17	-$26	-$78	$38	-$23	-$1	-$465	$275	$194	-$26
Income Tax
Inventory	-$10	-$13	$13	$5	$4	-$37	$11	-$31	$1	-$8	-$4	$77	-$82
Prepaid Expenses
Trade and other Pay	-$31	-$6	-$5	-$7	-$14	$66	$20	$89	$86	$655	-$470	-$58	$96
Deferred Reven & other Liab		-$1	-$1			-$1	-$1	-$5	$16	-$7	-$4	-$5	$36
Provisions	$4	-$4	-$7	$5	-$4		$1	-$4	-$2	$4	-$23		-$31
Change in Working Capital	$16	-$42	-$58	-$23	-$87	-$109	-$29	-$136	$25	$69	-$525	$86	$215
TD			-$58	-$34	-$90	-$109	-$29	-$136	$7	$69	-$515	$87	-$265
Difference			$0	$11	$3	$0	$0	$0	$18	$0	-$10	-$1	$480
OPM Ratio	35.68%	31.84%	33.49%	30.89%	32.46%	32.28%	36.68%	31.54%	43.57%	31.92%	19.20%	29.40%	25.86%	39.85%				-22.79%	<-Total Growth	10	OPM
Increase	90.33%	-10.76%	5.19%	-7.77%	5.09%	-0.55%	13.62%	-14.00%	38.12%	-26.73%	-39.86%	53.16%	-12.04%	54.11%					Should increase		or be stable.
Diff from Median	12.4%	0.3%	5.5%	-2.7%	2.3%	1.7%	15.6%	-0.6%	37.3%	0.6%	-39.5%	-7.3%	-18.5%	25.6%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	31.73%	5 Yrs	29.40%					should be	zero, it is a		check on calculations
EBIT								$477	$585	$800	$881	$830	$694	$1,064	$1,175						EBIT
Change									22.64%	36.75%	10.13%	-5.79%	-16.39%	53.31%	10.43%						Change
Margin								24.30%	30.20%	40.20%	30.08%	19.38%	17.84%	28.60%	32.96%						Margin
														$1,646	<-12 mths	4.18%
Adjusted EBITDA	$509	$423	$482	$520	$551	$646	$1,029	$955	$1,124	$1,353	$1,455	$1,333	$1,580	$1,848	$1,789			227.80%	<-Total Growth	10	Debt
Change	15.42%	-16.90%	13.95%	7.88%	5.96%	17.24%	59.29%	-7.19%	17.70%	20.37%	7.54%	-8.38%	18.53%	16.96%	-3.19%			12.56%	<-Median->	10	Change
Margin	39.43%	30.37%	39.25%	41.57%	45.39%	56.37%	73.82%	48.65%	58.03%	67.99%	49.68%	31.13%	40.61%	49.68%	50.18%			49.16%	<-Median->	10	Margin
Covering Assets	$3,525	$3,701	$3,679	$3,764	$4,378	$5,356	$6,089	$6,098	$6,203	$6,360	$6,557	$8,061	$11,253	$11,541				205.87%	<-Total Growth	10	Covering Assets	Property, Plant and Equipments
Change	-2.84%	4.99%	-0.59%	2.31%	16.31%	22.34%	13.69%	0.15%	1.72%	2.53%	3.10%	22.94%	39.60%	2.56%				8.39%	<-Median->	10	Change	Type
Debt/Covering Assets Ratio	0.34	0.27	0.35	0.35	0.44	0.41	0.42	0.51	0.58	0.66	0.69	0.66	0.57	0.55				0.54	<-Median->	10	Debt/Covering Assets Ratio	Lg Term R
Long Term Debt	$1,181	$987	$1,276	$1,308	$1,907	$2,191	$2,556	$3,135	$3,586	$4,217	$4,548	$5,313	$6,383	$6,334				400.24%	<-Total Growth	10	Debt	Lg Term /A
Change	-27.99%	-16.43%	29.28%	2.51%	45.80%	14.89%	16.66%	22.65%	14.39%	17.60%	7.85%	16.82%	20.14%	-0.77%				16.74%	<-Median->	10	Change	Intang/GW
Debt/Market Cap Ratio	0.69	0.45	0.74	0.59	0.75	0.81	0.71	0.84	0.78	0.78	1.02	0.60	0.70	0.62				0.76	<-Median->	10	Debt/Market Cap Ratio	Liquidity
Assets/Current Liabilities Ratio	8.60	6.19	9.27	11.06	10.85	8.45	6.00	7.75	7.53	4.58	5.45	9.56	9.44	7.54				8.10	<-Median->	10	Assets/Current Liab Ratio	Liq. + CF
Debt to Cash Flow (Years)	2.38	2.52	3.05	3.49	5.13	4.87	3.55	5.13	4.14	4.51	5.53	4.64	6.64	4.46				4.76	<-Median->	10	Debt to Cash Flow (Years)	Debt Ratio
																						Leverage
Intangibles	$310	$350	$341	$299	$401	$473	$760	$738	$749	$782	$740	$709	$585	$568				71.55%	<-Total Growth	10	Intangibles	D/E Ratio
Goodwill	$23	$25	$30	$23	$35	$35	$35	$35	$35	$35	$35	$35	$35	$35				16.67%	<-Total Growth	10	Goodwill
Total	$333	$375	$371	$322	$436	$508	$795	$773	$784	$817	$775	$744	$620	$603				67.12%	<-Total Growth	10	Total
Change	-1.48%	12.61%	-1.07%	-13.21%	35.40%	16.51%	56.50%	-2.77%	1.42%	4.21%	-5.14%	-4.00%	-16.67%	-2.74%				-0.67%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.19	0.17	0.21	0.14	0.17	0.19	0.22	0.21	0.17	0.15	0.17	0.08	0.07	0.06				0.17	<-Median->	10	Intangible/Market Cap Ratio
Current Assets	$441	$492	$535	$554	$542	$921	$868	$1,157	$1,186	$1,686	$2,632	$1,948	$1,542	$1,661				188.22%	<-Total Growth	10	Current Assets
Current Liabilities	$607	$875	$582	$548	$636	$906	$1,439	$1,150	$1,205	$2,212	$2,047	$1,353	$1,635	$2,080				180.93%	<-Total Growth	10	Current Liabilities
Liquidity Ratio	0.73	0.56	0.92	1.01	0.85	1.02	0.60	1.01	0.98	0.76	1.29	1.44	0.94	0.80				1.00	<-Median->	10	Ratio
Liq. with CF aft div	0.62	0.50	0.74	0.80	0.67	0.85	0.97	1.30	1.42	1.06	1.49	1.82	1.22	1.22				1.42	<-Median->	5	Ratio
Liq. with CF aft div (WC)	1.32	0.94	1.41	1.37	1.25	1.37	0.99	1.40	1.42	1.03	1.71	1.79	1.36	1.23
Liq. CF re  Inv+Div	0.67	-0.86	0.15	0.38	0.20	0.70	-0.12	0.15	-1.44	0.05	1.10	0.78	-0.07	0.53				0.05	<-Median->	5	Ratio
Curr Long Term Debt	$346	$599	$339	$200	$239	$456	$857	$417	$378	$733	$733	$304	$347	$649				$378.0	<-Median->	5	Ratio
Liquidity Less CLTD	1.69	1.78	2.20	1.59	1.37	2.05	1.49	1.58	1.43	1.14	2.00	1.86	1.20	1.16				1.43	<-Median->	5	Ratio
Liq. with CF aft div	2.58	2.29	2.51	1.88	1.62	2.19	2.04	1.88	1.92	1.51	2.17	2.21	1.47	1.65				1.92	<-Median->	5	Ratio
Assets	$5,219	$5,420	$5,393	$6,062	$6,898	$7,660	$8,630	$8,911	$9,073	$10,135	$11,156	$12,930	$15,441	$15,682				186.32%	<-Total Growth	10	Assets
Liabilities	$2,215	$2,417	$2,577	$3,161	$3,836	$4,541	$5,529	$5,982	$6,214	$7,675	$7,970	$8,359	$10,592	$10,948				311.02%	<-Total Growth	10	Liabilities
Debt Ratio	2.36	2.24	2.09	1.92	1.80	1.69	1.56	1.49	1.46	1.32	1.40	1.55	1.46	1.43				1.52	<-Median->	10	Ratio
Estimates BVPS														$30.46	$31.62				Estimates		Estimates BVPS
Estimate Book Value														$4,784.7	$4,966.9				Estimates		Estimate Book Value
P/B Ratio (Close)														2.12	2.04				Estimates		P/B Ratio (Close)
Difference from 10 year median															63.33%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value	$3,004	$3,003	$2,816	$2,901	$3,062	$3,119	$3,101	$2,929	$2,859	$2,460	$3,186	$4,571	$4,849	$4,734				72.19%	<-Total Growth	10	Book Value
NCI	$587	$552	$68	$58	$48	$43	$37	$29	$18	$6	-$4	-$5	-$8	-$5				-111.76%	<-Total Growth	10	NCI
Book Value	$2,417	$2,451	$2,748	$2,843	$3,014	$3,076	$3,064	$2,900	$2,841	$2,454	$3,190	$4,576	$4,857	$4,739				76.75%	<-Total Growth	10	Book Value
Book Value per share	$29.88	$29.37	$28.22	$29.57	$28.89	$30.19	$29.08	$27.31	$24.45	$20.99	$27.07	$32.93	$31.14	$30.17				10.36%	<-Total Growth	10	Book Value per Share
P/B Ratio (Median)	0.71	0.84	0.75	0.69	0.86	0.86	1.06	1.08	1.60	2.13	1.51	1.57	1.89	2.20				1.06	<-Median->	10	10 Year P/B Ratio
									P/B Ratios	10 yr Med	1.30	5 yr Med	1.60
Preference Shares	$464	$464	$464	$660	$807	$807	$953	$953	$753	$753	$603	$453	$453	$453				-2.37%	<-Total Growth	10	Preferred Shares
Net Book Value	$1,953	$1,987	$2,284	$2,183	$2,207	$2,269	$2,111	$1,947	$2,088	$1,701	$2,587	$4,123	$4,404	$4,286	$4,286	$4,286		92.82%	<-Total Growth	10	Net Book Value
Book Value per share	$24.14	$23.81	$23.45	$22.70	$21.16	$22.27	$20.03	$18.34	$17.97	$14.55	$21.95	$29.67	$28.24	$27.29	$27.29	$27.29		20.39%	<-Total Growth	10	Book Value per Share
Increase	2.05%	-1.39%	-1.48%	-3.20%	-6.81%	5.27%	-10.06%	-8.46%	-2.00%	-19.02%	50.83%	35.16%	-4.82%	-3.37%	0.00%	0.00%		102.09%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	0.88	1.03	0.90	0.90	1.17	1.17	1.54	1.61	2.18	3.07	1.87	1.74	2.08	2.43	0.00	0.00		1.17	P/B Ratio		Historical Median
P/B Ratio (Close)	0.88	1.09	0.76	1.02	1.16	1.19	1.72	1.91	2.20	3.18	1.72	2.15	2.07	2.37	2.37	2.37		1.87%	<-IRR #YR->	10	Book Value per Share	20.39%
Change	-8.18%	23.79%	-30.63%	35.05%	13.13%	3.14%	43.80%	11.12%	15.11%	44.98%	-45.85%	24.59%	-3.46%	14.15%	0.00%	0.00%		9.02%	<-IRR #YR->	5	Book Value per Share	54.00%
Median 10 year P/B Ratio	0.98	1.00	0.98	0.96	0.98	1.00	1.02	1.03	1.10	1.17	1.35	1.57	1.68	1.80	1.80	1.80
Leverage (A/BK)	2.67	2.73	2.36	2.78	3.13	3.38	4.09	4.58	4.35	5.96	4.31	3.14	3.51	3.66	0.00	0.00		4.31	<-Median->	5	A/BV
Debt/Equity Ratio	1.13	1.22	1.13	1.45	1.74	2.00	2.62	3.07	2.98	4.51	3.08	2.03	2.41	2.55	0.00	0.00		2.98	<-Median->	5	Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities)									P/B Ratios	10 yr Med	1.68	5 yr Med	2.08		41.21%	Diff M/C		3.39	Historical		Leverage (A/BK)
			-$23.45	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$28.24
								-$18.34	$0.00	$0.00	$0.00	$0.00	$28.24
														$267.00	<-12 mths	1505.26%
Total Comprehensive Income	$186	$90	$130	$76	$19	$365	$57	$69	$60	$38	$1,016	$980	-$20
NCI	$41	$14	-$2	-$9	-$10	-$7	-$6	-$6	-$11	-$10	-$7	$2	-$1
Shareholders	$145	$76	$132	$85	$29	$372	$63	$75	$71	$48	$1,023	$978	-$19					-114.39%	<-Total Growth	10	Comprehensive Income
Increase	95.95%	-47.59%	73.68%	-35.61%	-65.88%	1182.76%	-83.06%	19.05%	-5.33%	-32.39%	2031.25%	-4.40%	-101.94%					-5.33%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$65	$76	$101	$102	$93	$139	$136	$125	$122	$126	$256	$439	$420					#NUM!	<-IRR #YR->	10	Comprehensive Income	-114.39%
ROE	7.4%	3.8%	5.8%	3.9%	1.3%	16.4%	3.0%	3.9%	3.4%	2.8%	39.5%	23.7%	0.0%					#NUM!	<-IRR #YR->	5	Comprehensive Income	-125.33%
5Yr Median	4.9%	4.5%	5.6%	4.5%	3.9%	3.9%	3.9%	3.9%	3.4%	3.4%	3.4%	3.9%	3.4%					15.30%	<-IRR #YR->	10	5 Yr Running Average	315.22%
% Difference from Net Income	-17.1%	65.2%	46.7%	-23.4%	-79.9%	35.8%	-49.6%	-44.9%	-27.6%	-65.2%	37.5%	39.9%	0.0%					27.48%	<-IRR #YR->	5	5 Yr Running Average	236.70%
Median Values										Diff	5, 10 yr	-25.5%	0.0%					3.4%	<-Median->	5	Return on Equity
			-$132.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	-$19.0
								-$75.0	$0.0	$0.0	$0.0	$0.0	-$19.0
			-$101.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$420.2
								-$124.8	$0.0	$0.0	$0.0	$0.0	$420.2
Current Liability Coverage Ratio	0.79	0.49	0.82	0.73	0.72	0.62	0.52	0.65	0.71	0.39	0.65	0.78	0.75	0.68							CFO / Current Liabilities
5 year Median	0.79	0.79	0.82	0.79	0.73	0.72	0.72	0.65	0.65	0.62	0.65	0.65	0.71	0.68				0.68	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio	9.22%	7.99%	8.84%	6.57%	6.65%	7.30%	8.68%	8.38%	9.48%	8.54%	11.98%	8.17%	7.95%	9.06%							CFO / Total Assets
5 year Median	7.56%	7.99%	8.84%	7.99%	7.99%	7.30%	7.30%	7.30%	8.38%	8.54%	8.68%	8.54%	8.54%	8.54%				8.3%	<-Median->	10	Return on Assets
Return on Assets ROA	3.35%	0.85%	1.67%	1.83%	2.09%	3.58%	1.45%	1.53%	1.08%	1.36%	6.67%	5.41%	1.04%	1.31%				Net	Income/Assets		Return on Assets
5Yr Median	1.21%	1.21%	1.62%	1.67%	1.83%	1.83%	1.83%	1.83%	1.53%	1.45%	1.45%	1.53%	1.36%	1.36%				1.7%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE	8.96%	2.32%	3.94%	5.08%	6.52%	12.08%	5.92%	6.99%	4.69%	8.11%	28.76%	16.95%	3.63%	4.78%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	4.29%	3.75%	3.94%	3.94%	5.08%	5.08%	5.92%	6.52%	6.52%	6.99%	6.99%	8.11%	8.11%	8.11%				6.8%	<-Median->	10	Return on Equity
														$82	<-12 mths	-37.88%
Shareholders Net Income	$175	$46	$90	$111	$144	$274	$125	$136	$98	$138	$744	$699	$160								Earnings per Share
Preferred Shareholders Div	20	23	23	23	36	42	49	54	54	39	34	34	28
Net for Shareholders EPS	$155	$23	$67	$88	$108	$232	$76	$82	$44	$99	$710	$665	$132	$178	$464
														$113	<-12 mths	-29.38%
Net Income	$228	$50	$86	$102	$134	$267	$119	$130	$87	$128	$737	$701	$159
NCI	$53	$4	-$4	-$9	-$10	-$7	-$6	-$6	-$11	-$10	-$7	$2	-$1
Shareholders	$175	$46	$90	$111	$144	$274	$125	$136	$98	$138	$744	$699	$160	$205	$488			77.78%	<-Total Growth	10	Net Income
Increase	182.26%	-73.71%	95.65%	23.33%	29.73%	90.28%	-54.38%	8.80%	-27.94%	40.82%	439.13%	-6.05%	-77.11%	28.13%	138.05%			EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$69.2	$74.2	$90.0	$96.8	$113.2	$133.0	$149	$158	$155	$154	$248	$363	$368	$389.2	$459.2			5.92%	<-IRR #YR->	10	Net Income	77.78%
Operating Cash Flow	$497	$391	$419	$375	$372	$450	$720	$611	$867	$935	$822	$1,144	$962					3.30%	<-IRR #YR->	5	Net Income	17.65%
Investment Cash Flow	-$348	-$230	-$136	-$253	-$1,114	-$554	-$866	-$349	-$585	-$910	-$807	-$1,916	-$3,761					15.12%	<-IRR #YR->	10	5 Yr Running Average	308.67%
Total Accruals	$26	-$115	-$193	-$11	$886	$378	$271	-$126	-$184	$113	$729	$1,471	$2,959					18.41%	<-IRR #YR->	5	5 Yr Running Average	132.78%
Total Assets	$5,219	$5,420	$5,393	$6,062	$6,898	$7,660	$8,630	$8,911	$9,073	$10,135	$11,156	$12,930	$15,441						Balance Sheet		Assets
Accruals Ratio	0.50%	-2.12%	-3.58%	-0.18%	12.84%	4.93%	3.14%	-1.41%	-2.03%	1.11%	6.53%	11.38%	19.16%					6.53%	<-Median->	5	Ratio
EPS/CF Ratio (WC)	0.35	0.05	0.14	0.22	0.24	0.41	0.10	0.11	0.05	0.11	0.53	0.68	0.11					0.17	<-Median->	10	EPS/CF Ratio
			-$90.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$160.0
								-$136.0	$0.0	$0.0	$0.0	$0.0	$160.0
			-$90.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$367.8
								-$158.0	$0.0	$0.0	$0.0	$0.0	$367.8
Change in Close	-6.29%	22.07%	-31.65%	30.73%	5.42%	8.57%	29.33%	1.72%	12.81%	17.41%	-18.33%	68.39%	-8.11%	10.30%	0.00%	0.00%			Count	17	Years of data
up/down												down	down	down					Count	3	17.65%
Meet Prediction?													yes					% right	Count	1	33.33%
Financial Cash Flow	-$101	-$191	-$280	-$102	$697	$2,363	$218	-$146	-$275	-$102	$1,103	$202	$2,077						C F Statement		Financial Cash Flow
Total Accruals	$127	$76	$87	$91	$189	-$1,985	$53	$20	$91	$215	-$374	$1,269	$882								Accruals
Accruals Ratio	2.43%	1.40%	1.61%	1.50%	2.74%	-25.91%	0.61%	0.22%	1.00%	2.12%	-3.35%	9.81%	5.71%					2.12%	<-Median->	5	Ratio
Cash	$100	$71	$80	$98	$52	$182	$248	$367	$387	$307	$1,423	$865	$119	$153							Cash
Cash per Share	$1.24	$0.85	$0.82	$1.02	$0.50	$1.79	$2.35	$3.46	$3.33	$2.63	$12.07	$6.22	$0.76	$0.97				$3.33	<-Median->	5	Cash per Share
Percentage of Stock Price	5.80%	3.27%	4.62%	4.39%	2.04%	6.72%	6.84%	9.88%	8.44%	5.67%	31.91%	9.77%	1.30%	1.51%				8.44%	<-Median->	5	% of Stock Price
Notes:
August 20, 2026.  Last estimates were for 2025, 2026. 2027 of $3280M, $4227M, $3987M Revenue, $1.96, $3.89, $3.91 AEPS, $6.16 2025 AFFO, $1.67, $3.53, $3.67 EPS, $2.68, $2.78, $2.81 Dividends,
$695M, $535M, $324M FCF, $8.56, $9.05, $9.10 CFPS, $694M, $1064M, $1175M EBOT, $7.798M EBITDA, $30.42, $30.46, $31.62 BVPS, $251M, $573M, $598M Net Income.
August 29, 2025.  Last estimates ere for 2024, 2025, 2026 of $3164M, $2546M, $2765M Revenue, $4.03, $3.15, $4.19 AEPS, $6.36, $6.16 2024/5 AFFO, $3.85, $2.73, $4.64 EPS,
$2.53, $2.67, $2.75 Dividend, $814M, $641M, $956M FCF, $7.45, $7.23, $7.51 CFPS, $1357M, $1435M, $1494M EBITDA, $26.65, $27.30, $29.13 BVPS, $503M, $360M, $618M Net Income.
August 18, 2024.  Last estimates were for $3299M, $2450M, $2569M Revenue, $5.35, $3.31, $2.59 AEPS, $7.23, $6.71 2023/4 AFFO, $5.45, $3.02, $2.17 EPS,
$2.39, $2.52, $2.65 Dividends, $8.63, $8.25, $7.69 CFPS, $1500M, $1233M 2023/4 EBITDA, $22.50, $23.20, $22.90 BVPS, $640M, $358M, $214M Net Income.
August 19, 2023.  Last estimates were for 2022, 2023 and 2024 of $2167M, $1947M and $2296M for Revenue, $3.16, $2.78 and $3.03 for AEPS, $6.25 and 6.16 for 2022/3 for AFFO,
$2.96, $2.26 and $3.44 for EPS, $2.25, $2.37 and $2.47 for Dividends, $570M, $530M and $4.85M for FCF, $9.20, $7.71 and $8.45 fpr CFPS, and $358M, $317M for 2022/3 for Net Income.
August 21, 2022.  Last estimates were for 2021, $2022 and 2023 of $1876M, $1865M and $2037M for Revenue, $1.99, $1.89 and $2.71 for EPS,
$2.11, $2.23 and $2.31 for Dividends, $558M, $446M and $523M for FCF, $6.85, $6.71 and $6.85 for CFPS, $235M and $217M for 2021-22 for Net Income.
August 21, 2021.  Last estimates were for 2020, 2021 and 2022 of $1798M $1712M and $1775M for Revenue, $1.02, $1.38 and $2.68 for EPS,
$1.98, $2.11 and $2.20 for Div., $456M, $519M and $583M for FCF, $6.10, $6.32 and $6.27 for CFPS and $106M, $147M and $282M for Net Income.
August 2020.  Started Spreadsheet
Capital Power became a company through an Initial Public Offering (IPO), and the power generating assets and business of EPCOR were moved to
Capital Power as a new, separate, independent, and publicly traded company.  Capital Power commenced trading on the TSX, and its new era as a
North American wholesale power generator, on July 9, 2009
Edmonton Power Corporation (EPCOR)
Initial Public Offering in 2009, Capital Power
Sector:
Utilities, Infrastructure
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock.
Capital power Corp is in John Heinzl's yield Hog model portfolio.
In Money Sense annual list of the 100 best dividend stocks for 2021, this stock was rated an A.
Why I bought this stock.
Dividends
Dividends are paid quarterly in Cycle 1 of January, April, July and October.  Dividends are declared in one month for shareholders of record of the following month and paid in the next month.
For example, the dividends declared on February 21, 2020 are for shareholders of record of March 31, 2020 and is payble on April 30, 2020.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers
For employees
For community
For investors
How they make their money.
Capital Power Corp is a North American power producer whose principal activities are developing, acquiring, and operating power plants. These are located
throughout Western and Central Canada and the U.S. The company generates the vast majority of its revenue from sale of electricity and natural gas.
Shares; '%, Value $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			2019	Sep 14	2020	Aug 21	2021	Aug 21	2022	Aug 19	2023	Aug 18	2024	Aug 29	2025			Aug 20	2026
Dey, Avik										0.000	0.00%	0.000	0.00%	0.000	0.00%			0.006	0.00%			#DIV/0!
CEO - Shares - Amount											$0.000		$0.000		$0.000				$0.405
Options - percentage										0.116	0.10%	0.260	0.19%	0.393	0.25%			0.519	0.33%			32.02%
Options - amount											$4.374		$16.578		$23.034				$33.542
Vaasjo, Brian Tellef		0.128	0.12%	0.128	0.12%	0.128	0.11%	0.132	0.11%
CEO - Shares - Amount			$4.409		$4.484		$5.058		$6.103
Options - percentage		1.767	1.68%	1.679	1.58%	1.427	1.23%	1.277	1.09%
Options - amount			$60.762		$58.724		$56.305		$59.159
MacIntosh, Kevin																		0.005	0.00%
CFO - Shares - Amount																			$0.296
Options - percentage																		0.035	0.02%
Options - amount																			$2.239
Haskins, Sandra Anne		0.000	0.00%	0.003	0.00%	0.005	0.00%	0.009	0.01%	0.008	0.01%	0.010	0.01%	0.010	0.01%						Ceased insider Dec 2025
CFO - Shares - Amount			$0.000		$0.090		$0.182		$0.413		$0.319		$0.643		$0.591
Options - percentage		0.000	0.00%	0.038	0.04%	0.060	0.05%	0.087	0.07%	0.119	0.10%	0.143	0.10%	0.160	0.10%
Options - amount			$0.000		$1.338		$2.370		$4.050		$4.505		$9.130		$9.383
DeNeve, Bryan		0.025	0.02%	0.036	0.03%	0.039	0.03%	0.039	0.03%	0.037	0.03%	0.012	0.01%	0.006	0.00%						used to be CFO
Officer - Shares - Amount			$0.857		$1.277		$1.557		$1.828		$1.398		$0.768		$0.342						Last report Mar 2025
Options - percentage		0.399	0.38%	0.399	0.38%	0.279	0.24%	0.175	0.15%	0.190	0.16%	0.186	0.13%	0.154	0.10%
Options - amount			$13.710		$13.961		$11.015		$8.118		$7.201		$11.826		$9.024
Comandante, Jason														0.008	0.01%			0.009	0.01%			4.62%
Officer - Shares - Amount															$0.487				$0.563
Options - percentage														0.046	0.03%			0.059	0.04%			27.53%
Options - amount															$2.710				$3.812
McLean, Pauline lwai Sheung														0.000	0.00%			0.003	0.00%			#DIV/0!
Officer - Shares - Amount															$0.000				$0.206
Options - percentage														0.035	0.02%			0.060	0.04%			73.26%
Options - amount															$2.028				$3.875
Chisholm, Burness Kathryn		0.019	0.02%	0.022	0.02%	0.025	0.02%	0.027	0.02%	0.027	0.02%										Last updated Mar 2023
Officer - Shares - Amount			$0.640		$0.779		$0.989		$1.262		$1.031
Options - percentage		0.382	0.36%	0.390	0.37%	0.316	0.27%	0.301	0.26%	0.300	0.25%
Options - amount			$13.144		$13.637		$12.464		$13.964		$11.337
Wollin, Steve												0.000	0.00%	0.135	0.09%						Ceased insider Jun 2026
Officer - Shares - Amount													$0.000		$7.917
Options - percentage												0.034	0.02%	1.349	0.86%
Options - amount													$2.180		$78.976
Peverett, Jane Leslie														0.002	0.00%			0.002	0.00%			0.00%
Director - Shares - Amount															$0.117				$0.129
Options - percentage														0.022	0.01%			0.025	0.02%			13.13%
Options - amount															$1.307				$1.631
Beneby, Doyle Nolan		0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%
Director - Shares - Amount			$0.000		$0.000		$0.000		$0.000		$0.000
Options - percentage		0.033	0.03%	0.038	0.04%	0.048	0.04%	0.056	0.05%	0.064	0.05%
Options - amount			$1.132		$1.342		$1.898		$2.599		$2.437
Perry, Barry								0.026	0.02%	0.026	0.02%	0.026	0.02%	0.026	0.02%			0.041	0.03%		Chairman 2026	56.88%
Chairman - Shares - Amt									$1.205		$0.984		$1.657		$1.522				$2.634
Options - percentage								0.002	0.00%	0.004	0.00%	0.008	0.01%	0.014	0.01%			0.018	0.01%			34.86%
Options - amount									$0.077		$0.144		$0.489		$0.794				$1.181
Graham, Carolyn Joan										0.001	0.00%	0.001	0.00%	0.001	0.00%			0.001	0.00%		not Chairman 2026	0.00%
Chairman - Shares - Amt											$0.047		$0.079		$0.073				$0.080
Options - percentage										0.000	0.00%	0.002	0.00%	0.007	0.00%			0.011	0.01%			57.67%
Options - amount											$0.000		$0.127		$0.424				$0.737
Gardiner, Jill				0.007	0.01%	0.007	0.01%	0.007	0.01%	0.006	0.00%	0.007	0.00%	0.007	0.00%			0.007	0.00%		not Chairman 2025	0.00%
Chairman - Shares - Amt					$0.235		$0.265		$0.311		$0.216		$0.427		$0.393				$0.433
Options - percentage				0.019	0.02%	0.024	0.02%	0.030	0.03%	0.036	0.03%	0.094	0.07%	0.102	0.07%			0.058	0.04%			-42.66%
Options - amount					$0.669		$0.952		$1.379		$1.370		$5.984		$5.962				$3.771
Increase in O/S Shares		0.546	0.54%	1.029	0.99%	0.749	0.71%	0.889	0.76%	0.693	0.59%	0.315	0.27%	0.828	0.60%			0.274	0.18%
Due to Stock Options			$18.767		$35.399		$26.205		$35.063		$32.105		$11.907		$52.756				$16.035
Book Value			$14.000		$25.000		$19.000		$23.000		$17.000		$9.000		$27.000				$10.000
Insider Buying			-$0.631		-$0.396		-$0.570		-$0.391		-$1.175		-$0.957		$0.000				-$2.243
Insider Selling			$9.097		$2.402		$26.282		$19.336		$3.268		$5.135		$3.172				$0.950
Net Insider Selling			$8.465		$2.007		$25.712		$18.945		$2.094		$4.179		$3.172				-$1.293
Net Selling % of Market Cap			0.23%		0.05%		0.56%		0.35%		0.05%		0.05%		0.03%				-0.01%
Directors				9		9		10		10		11		10				11
Women				4	44%	4	44%	4	40%	4	40%	4	36%	4	40%			5	45%
Minorities				1	11%	1	11%	1	10%	2	20%	2	18%	2	20%			2	18%
Institutions/Holdings						20	16.10%	20	11.62%	20	16.36%	20	16.12%	20	17.75%			20	20.50%
Total Shares Held						18.458	15.89%	13.539	11.58%	19.137	16.24%	20.952	15.08%	27.539	17.66%			32.205	20.50%
Increase/Decrease 3 Mths						-0.606	-3.18%	-0.073	-0.54%	-1.255	-6.15%	0.447	2.18%	1.425	5.46%			-2.192	-6.37%
Starting No. of Shares						19.064		13.612		20.392		20.505		26.113				34.397