Historical Performance and Volatility for investment

Anonymous
timer Asked: May 1st, 2017

Question description

I will give you the datas please give me back 3 hours. give me the papers. Thank you!

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands Net sales Cost of sales, including buying and occupancy costs Selling, general and administrative expenses Loss on early extinguishment of debt Pension settlement charge Interest expense, net Income before provision for income taxes Provision for income taxes Net income Basic earnings per share: Net income Weighted average common shares - basic Diluted earnings per share: Net income Weighted average common shares - diluted Cash dividends declared per share Consolidated Balance Sheets - USD ($) $ in Thousands Current assets: Cash and cash equivalents Short-term investments Accounts receivable, net Merchandise inventories Prepaid expenses and other current assets Total current assets Net property at cost Non-current deferred income taxes, net Goodwill Other assets TOTAL ASSETS Current liabilities: Accounts payable Accrued expenses and other current liabilities Federal, state and foreign income taxes payable Total current liabilities Other long-term liabilities Non-current deferred income taxes, net Long-term debt Commitments and contingencies (See Note M and Note O) TOTAL LIABILITIES SHAREHOLDERS' EQUITY Preferred stock, authorized 5,000,000 shares, par value $1, no shares issued Common stock, authorized 1,200,000,000 shares, par value $1, issued and outstanding 646,319,046 and 663,495,715, respectively Additional paid-in capital Accumulated other comprehensive income (loss) Retained earnings Total shareholders' equity TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY Consolidated Statements of Cash Flows - USD ($) $ in Thousands Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Loss on property disposals and impairment charges Deferred income tax (benefit) provision Share-based compensation Loss on early extinguishment of debt Pension settlement charge Excess tax benefits from share-based compensation Changes in assets and liabilities: (Increase) in accounts receivable Decrease (increase) in merchandise inventories (Increase) in prepaid expenses and other current assets Increase in accounts payable Increase in accrued expenses and other liabilities Increase in income taxes payable Other Net cash provided by operating activities Cash flows from investing activities: Property additions Purchases of investments Sales and maturities of investments Acquisition of Trade Secret Net cash (used in) investing activities Cash flows from financing activities: Proceeds from issuance of long-term debt Cash payments for extinguishment of debt Cash payments for debt issuance expenses Cash payments for rate lock agreement Cash payments for repurchase of common stock Proceeds from issuance of common stock Excess tax benefits from share-based compensation Cash dividends paid Net cash (used in) financing activities Effect of exchange rate changes on cash Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year TJ Maxx Business: The TJX Companies, Inc. (TJX) is the leading off-price apparel and home fashions retailer in the United States and worldwide. We have over 3,800 stores that offer a rapidly changing assortment of quality, fashionable, brand name and designer merchandise at prices generally 20% to 60% below department and specialty store regular retail prices on comparable merchandise, every day. 12 Months Ended Jan. 28, 2017 Jan. 30, 2016 $ 33.183.744 $ 30.944.938 23.565.754 22.034.523 5.768.467 5.205.715 51.773 31.173 43.534 46.400 3.723.043 3.658.300 1.424.809 1.380.642 $ 2.298.234 $ 2.277.658 Jan. 31, 2015 $ 29.078.407 20.776.522 4.695.384 16.830 39.787 3.549.884 1.334.756 $ 2.215.128 $ 3,51 655.647 $ 3,38 673.484 $ 3,20 692.691 $ 3,46 664.432 $ 1,04 $ 3,33 683.251 $ 0,84 $ 3,15 703.545 $ 0,70 Jan. 28, 2017 Jan. 30, 2016 $ 2.929.849 543.242 258.831 3.644.959 373.893 7.750.774 4.532.894 6.193 195.871 398.076 12.883.808 $ 2.095.473 352.313 238.072 3.695.113 391.589 6.772.560 4.137.575 13.831 193.911 372.554 11.490.431 2.230.904 2.320.464 206.288 4.757.656 1.073.954 314.000 2.227.599 2.203.050 2.069.659 129.521 4.402.230 881.021 285.102 1.615.003 Liquidity Current Quick Liquidity Ratio 2016 1,63 1,57 2015 1,54 1,48 Asset Management 2016 6,47 2,58 128,21 2015 5,96 2,69 129,98 Debt Management 2016 Liab/Assets 64,99% Debt/Assets 17,29% 2015 0,00% 14,06% Inv TO TA TO Rec TO PM ROA ROE 2016 6,93% 17,84% 50,95% $ 8.373.209 Growth 2015 7,36% 19,82% 52,88% 646.319 0 (694.226) 4.558.506 4.510.599 $ 12.883.808 663.496 0 (667.472) 4.311.051 4.307.075 $ 11.490.431 12 Months Ended Jan. 28, 2017 Jan. 30, 2016 $ 2.298.234 2015-16 2014-15 Sales 7,23% 6,42% Net income 0,90% 2,82% EPS 3,85% 5,62% $ 2.277.658 DPR RR 2016 29,63% 70,37% Jan. 31, 2015 $ 2.215.128 Sustainable Growth 2016 35,86% 658.796 5.207 (5.503) 102.251 51.773 31.173 (70.999) 616.696 3.383 31.204 94.107 588.975 3.897 102.070 88.014 16.830 (64.680) (95.063) (23.235) 11.862 (9.600) 48.253 389.399 146.766 (32.483) 3.601.894 (27.357) (506.633) (40.103) 216.265 284.929 68.014 (16.140) 2.937.343 (9.052) (332.271) (8.756) 285.223 20.800 144.977 (12.403) 3.008.369 (1.024.747) (716.953) 529.146 (2.324) (1.214.878) (889.380) (798.008) 681.377 (57.104) (1.063.115) (911.522) (431.152) 388.037 992.540 (425.584) (9.921) (3.150) (1.699.998) 164.190 70.999 (650.988) (1.561.912) (1.828.297) 132.033 64.680 (544.271) (2.175.855) 2015 24,85% 75,15% (954.637) 749.475 (416.357) (6.185) (7.937) (1.650.704) 143.005 95.063 (465.902) (1.559.542) 2015 39,74% 9.272 834.376 2.095.473 $ 2.929.849 (96.675) (398.302) 2.493.775 $ 2.095.473 (150.161) 344.029 2.149.746 $ 2.493.775 2014 7,62% 2014 21,88% 78,13% CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] Net income Foreign currency translation adjustment: Translation adjustment arising during the period, net of income tax Cash flow hedges: Change in fair value of derivatives, net of income tax Pension and postretirement adjustments: Net actuarial gain (loss) and foreign currency fluctuations arising during the year, net of income tax expense (benefit) of $4, $(10) and $(7) million, respectively Amortization of net actuarial gain/loss and prior service cost included in net periodic benefit costs, net of income tax expense of $4, $5, and $4 million, respectively Comprehensive income CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Current assets Cash and cash equivalents Merchandise inventories Other current assets Assets, Current, Total Property and equipment, net Deferred taxes Goodwill Other intangible assets, net Other assets Total Assets Current liabilities Accounts payable Accrued and other liabilities Current portion of capital lease obligations Liabilities, Current, Total Long-term debt and obligations under capital leases Other liabilities Total liabilities Shareholders' equity Accumulated other comprehensive loss Shareholders’ equity Liabilities and Equity, Total CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions From Operating Activities Net income Adjustments to reconcile net income to net cash provided by operating activities: Impairment charges Depreciation and amortization Deferred income taxes Share-based compensation expense Excess tax benefits on share-based compensation Gain on sale of real estate Qualified pension plan contributions Change in assets and liabilities: Merchandise inventories Accounts payable Accrued and other liabilities Pension litigation accrual Other, net Net cash provided by operating activities From Investing Activities Capital expenditures Purchase of business, net of cash acquired Proceeds from sale of real estate Sales and maturities of short-term investments Net cash used in investing activities From Financing Activities Purchase of treasury shares Dividends paid on common stock Issuance of common stock Treasury stock reissued under employee stock plan Excess tax benefits on share-based compensation Payment of revolving credit agreement costs Reduction in obligations under capital leases Net cash used in financing activities Effect of Exchange Rate Fluctuations on Cash and Cash Equivalents Net Change in Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year Cash Paid During the Year: Interest Income taxes Foot Looker Inc. Business: Foot Locker, Inc., incorporated under the laws of the State of New York in 1989, is a leading global retailer of athletically inspired shoes and apparel, operating 3,363 primarily mall-based stores, as well as stores in high-traffic urban retail areas and high streets, in the United States, Canada, Europe, Australia, and New Zealand as of January 28, 2017. There are few risks, the 3 main risks are their inability to implement their long-range strategic plan may adversely affect their future results, the second one is the retail athletic footwear and apparel business is highly competitive and last one is the industry in which we operate is dependent upon fashion trends, customer preferences, product innovations, and other and apparel business is highly competitive and last one is the industry in which we operate is dependent upon fashion trends, customer preferences, product innovations, and other fashion-related factors. 12 Months Ended Jan. 28, 2017 Jan. 30, 2016 $ 664 $ 541 Jan. 31, 2015 $ 520 (8) (44) (1) 5 (1) 4 (16) (8) 8 8 8 $ 667 $ 494 $ 387 Jan. 28, 2017 Jan. 30, 2016 $ 1.046 1.307 280 2.633 765 161 155 42 84 3.840 $ 1.021 1.285 300 2.606 661 234 156 45 73 3.775 249 363 612 127 391 1.130 279 420 1 700 129 393 1.222 (363) 2.710 $ 3.840 (366) 2.553 $ 3.775 12 Months Ended Jan. 28, 2017 Jan. 30, 2016 $ 664 (132) $ 541 Jan. 31, 2015 $ 520 6 158 (1) 22 (20) 5 148 (6) 22 (35) (36) (4) (25) (31) 27 (49) (17) 52 816 (266) 100 40 745 (228) (2) 4 139 20 24 (12) (4) (6) (81) 51 33 24 712 (190) (266) (230) 5 9 (176) (432) (147) 29 4 20 (2) (1) (529) 4 25 1.021 1.046 (419) (139) 64 5 35 (305) (127) 17 5 12 (2) (456) (5) 54 967 1.021 (3) (401) (26) 109 858 967 11 $ 341 11 $ 283 11 $ 251 CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions Income Statement [Abstract] Net Sales Cost of sales Gross Profit Marketing expenses Selling, general and administrative expenses Income from Operations Equity in earnings (losses) of affiliates Investment earnings Other income (expense), net Interest expense Income before Income Taxes Income taxes Net Income Weighted average shares outstanding - Basic Weighted average shares outstanding - Diluted Net income per share - Basic Net income per share - Diluted Cash dividends per share CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Current Assets Cash and cash equivalents Accounts receivable, less allowances of $2.1 and $1.0 Inventories Other current assets Total Current Assets Property, Plant and Equipment, Net Equity Investment in Affiliates Trade Names and Other Intangibles, Net Goodwill Other Assets Total Assets Current Liabilities Short-term borrowings Accounts payable and accrued expenses Income taxes payable Total Current Liabilities Long-term Debt Deferred Income Taxes Deferred and Other Long-term Liabilities Total Liabilities Commitments and Contingencies Stockholders' Equity Preferred Stock, $1.00 par value, Authorized 2,500,000 shares; none issued Common Stock, $1.00 par value, Authorized 300,000,000 shares; 292,855,100 shares issued Additional paid-in capital Retained earnings Accumulated other comprehensive loss Common stock in treasury, at cost: 38,892,165 shares in 2016 and 32,947,012 shares in 2015 Total Stockholders' Equity Total Liabilities and Stockholders’ Equity CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Millions Cash Flow From Operating Activities Net Income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense Amortization expense Deferred income taxes Equity in net earnings of affiliates Distributions from unconsolidated affiliates Non-cash pension settlement charge Non-cash compensation expense Asset impairment charge and other asset write-offs Other Change in assets and liabilities: Accounts receivable Inventories Other current assets Accounts payable and accrued expenses Income taxes payable Excess tax benefit on stock options exercised Other operating assets and liabilities, net Net Cash Provided By Operating Activities Cash Flow From Investing Activities Additions to property, plant and equipment Acquisitions Other Net Cash Used In Investing Activities Cash Flow From Financing Activities Long-term debt borrowings Long-term debt repayments Short-term debt borrowings (repayments) Proceeds from stock options exercised Excess tax benefit on stock options exercised Payment of cash dividends Purchase of treasury stock Deferred financing costs Other Net Cash Used In Financing Activities Effect of exchange rate changes on cash and cash equivalents Net Change In Cash and Cash Equivalents Cash and Cash Equivalents at Beginning of Period Cash and Cash Equivalents at End of Period Cash paid during the year for: Interest (net of amounts capitalized) Income taxes Supplemental disclosure of non-cash investing activities: Property, plant and equipment expenditures included in Accounts Payable Church & Dwight Co. Business: The Company, founded in 1846, develops, manufactures and markets a broad range of household, personal care and specialty products. The Company sells its consumer products under a variety of brands through a broad distribution platform that includes supermarkets, mass merchandisers, wholesale clubs, drugstores, convenience stores, home stores, dollar, pet and other specialty stores and websites, all of which sell the products to consumers. The Company also sells specialty products to industrial customers and distributors. Risk: 1. Unfavorable economic conditions could adversely affect demand for the Company’s products. 2. The Company faces intense competition in its markets, and the failure to compete effectively could have a material adverse effect on its business, financial condition and results of operations. 12 Months Ended Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 $ 3.493,1 1.902,5 1.590,6 427,2 439,2 724,2 9,2 1,7 (1,5) (27,7) 705,9 246,9 $ 459 257,6 262,1 $ 1,78 1,75 $ 0,71 $ 3.394,8 1.883 1.511,8 417,5 420,1 674,2 (5,8) 1,5 (4) (30,5) 635,4 225 $ 410,4 262,2 267,2 $ 1,57 1,54 $ 0,67 Dec. 31, 2016 Dec. 31, 2015 $ 187,8 287 258,2 23,8 756,8 588,6 8,5 1.431,8 1.444,1 124,3 4.354,1 $ 330 276,2 274 25,8 906 609,6 8,4 1.269,5 1.354,9 108,5 4.256,9 426,8 568,9 6,2 1.001,9 693,4 512,2 168,7 2.376,2 357,2 508,3 7,2 872,7 692,8 484,8 183,4 2.233,7 $ 3.297,6 1.844,7 1.452,9 416,9 394,8 641,2 11,6 2,3 (2,8) (27,4) 624,9 211 $ 413,9 270,2 275 $ 1,53 1,51 $ 0,62 Liquidity Ratio 2016 0,76 0,50 2015 1,04 0,72 Inv TO TA TO Rec TO Asset Management 2016 13,53 0,80 12,17 2015 12,39 0,80 12,29 Liab/Assets Debt/Assets Debt Management 2016 54,57% 15,93% 2015 52,47% 16,27% Liquidity Current Quick PM ROA ROE 2016 13,14% 10,54% 23,21% 2015 12,09% 9,64% 20,28% Growth 0 292,8 251,4 2.926 (63,8) (1.428,5) 1.977,9 $ 4.354,1 0 292,8 2015-16 230 2.650 (45,9) (1.103,7) 2.023,2 $ 4.256,9 2014-15 Sales Net income EPS 2,90% 11,84% 13,38% 2,95% -0,85% 2,61% DPR RR 2016 39,89% 60,11% 2015 42,68% 57,32% Sustainable Growth 2016 13,95% 12 Months Ended Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 $ 459 $ 410,4 $ 413,9 59,7 47,9 24,9 (9,2) 9 0 16 5,6 (1,8) 58,3 42,7 24 (11,6) 12 8,4 16,1 19,2 5,7 57,1 34,1 12,7 (11,6) 12,5 0 17 6,4 3,2 (12,7) 19,2 2,1 50,5 32,8 (30) (17,7) 655,3 33,5 (38,5) (2) 21,8 29,7 (15,8) (7,8) 606,1 (1,8) 1,8 (0,6) 2,4 17,5 (18,5) (5,8) 540,3 (49,8) (305,3) 0,5 (61,8) (74,9) (4,5) (70,5) (215,7) (2,2) 2015 11,63% (354,6) (141,2) (288,4) 0 0 68,9 50,5 30 (183) (400) 0 (6) (439,6) (3,3) (142,2) 330 187,8 0 (250) 211,7 28,5 15,8 (175,3) (363,1) (1,4) (1,2) (535) (22,9) (93) 423 330 299,8 0 (6,7) 32,7 18,5 (167,5) (478,8) (4,2) (0,4) (306,6) (19,2) (73,9) 496,9 423 25,6 188,4 29 174,8 25,7 181,5 $ 3,4 $ 5,3 $ 14,5 CHD's Current ratio is decrease the 0.6 during the two years, but quick ratio increased almost 1 from 2015 to 2016. 2014 12,55% 2014 40,52% 59,48% Statement of Income - USD ($) $ in Millions Income Statement [Abstract] Operating Revenue Cost of revenue Selling, administrative, and research and development expenses Amortization and impairment of intangible assets Operating Income Interest expense Other income (expense) Income from Continuing Operations Before Income Taxes Income taxes Income from Continuing Operations Income from Discontinued Operations Net Income Income Per Share from Continuing Operations: Basic (in dollars per share) Diluted (in dollars per share) Income Per Share from Discontinued Operations: Basic (in dollars per share) Diluted (in dollars per share) Net Income Per Share: Basic (in dollars per share) Diluted (in dollars per share) Dividend per share * Cash dividends paid Outstanding shares Statement of Financial Position - USD ($) $ in Millions Current Assets: Cash and equivalents Trade receivables Inventories Prepaid expenses and other current assets Total current assets Net plant and equipment Goodwill Intangible assets Deferred income taxes Other assets 12 Months Ended Dec. 31, 2016 $13.599,00 7.896,00 2.415,00 224,00 3.064,00 (237,00) 81,00 2.908,00 873,00 2.035,00 2.035,00 5,73 5,70 5,73 5,70 2,37 821,00 346,90 Dec. 31, 2016 $ 2.472 2.357 1.076 218 6.123 1.652 4.558 1.463 449 956 Total Assets Current Liabilities: Short-term debt Accounts payable Accrued expenses Cash dividends payable Income taxes payable Total current liabilities Noncurrent Liabilities: Long-term debt Deferred income taxes Other liabilities Total noncurrent liabilities Total Liabilities Stockholders’ Equity: Common stock Additional paid-in-capital Retained earnings Common stock held in treasury Accumulated other comprehensive income (loss) Noncontrolling interest Total stockholders’ equity Total liabilities and stockholders' equity Statement of Cash Flows - USD ($) $ in Millions Cash Provided by (Used for) Operating Activities: Net income Adjustments to reconcile net income to cash provided by operating activities: Depreciation Amortization and impairment of intangible assets Change in deferred income taxes Provision for uncollectible accounts (Income) loss from investments (Gain) loss on sale of plant and equipment (Gain) loss on discontinued operations (Gain) loss on sale of operations and affiliates Stock-based compensation expense Gain on dividend distribution from equity investment in Wilsonart Other non-cash items, net (Increase) decrease in— Trade receivables Inventories 15.201 652 511 1.202 226 169 2.760 7.177 134 871 8.182 10.942 6 1.188 19.505 (14.638) (1.807) 5 4.259 $ 15.201 12 Months Ended Dec. 31, 2016 $ 2.035 246 224 (263) 7 13 1 0 12 39 (54) 5 (132) 9 Prepaid expenses and other assets Increase (decrease) in— Accounts payable Accrued expenses and other liabilities Income taxes Other, net Net cash provided by operating activities Cash Provided by (Used for) Investing Activities: Acquisition of businesses (excluding cash and equivalents) and additional interest in affiliates Additions to plant and equipment Proceeds from investments Dividend distribution from equity investment in Wilsonart Proceeds from sale of plant and equipment Net proceeds from sale of discontinued operations Proceeds from sale of operations and affiliates Other, net Net cash provided by (used for) investing activities Cash Provided by (Used for) Financing Activities: Cash dividends paid Issuance of common stock Repurchases of common stock Net proceeds from (repayments of) debt with original maturities of three months or less Proceeds from debt with original maturities of more than three months Repayments of debt with original maturities of more than three months Excess tax benefits from stock-based compensation Other, net Net cash provided by (used for) financing activities Effect of Exchange Rate Changes on Cash and Equivalents Cash and Equivalents: Increase (decrease) during the year Beginning of year End of year Supplementary Cash Flow Information: Cash Paid During the Year for Interest Cash Paid During the Year for Income Taxes, Net of Refunds Liabilities Assumed from Acquisitions Illionis Tool Works Business: Illinois Tool Works Inc. (the "Company" or "ITW") was founded in 1912 and incorporated in 1915. The Company's ticker symbol is ITW. The Company is a global manufacturer of a diversified range of industrial products and equipment with 85 divisions in 57 countries. As of December 31, 2016, the Company employed approximately 50,000 persons.The Company's operations are organized and managed based on similar product offerings and end (63) (3) 40 187 (1) 2.302 (453) (273) 21 167 16 0 3 (13) (532) (821) 84 (2.000) (526) 992 (1) 29 (12) (2.255) (133) (618) 3.090 2.472 212 920 $ 150 Company employed approximately 50,000 persons.The Company's operations are organized and managed based on similar product offerings and end markets, and are reported to senior management as the following seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. Risk: The Company's results are impacted by global economic conditions. Downturns in the markets served by the Company could adversely affect its businesses, results of operations or financial condition. And another one is The global nature of the Company's operations subjects it to political and economic risks that could adversely affect its business, results of operations or financial condition. 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 $13.405,00 7.888,00 2.417,00 $14.484,00 8.673,00 2.678,00 233,00 2.867,00 (226,00) 78,00 2.719,00 820,00 1.899,00 1.899,00 245,00 2.888,00 (250,00) 61,00 2.699,00 809,00 1.890,00 1.056,00 2.946,00 5,16 5,13 4,70 4,67 - 2,63 2,61 5,16 5,13 2,04 7,33 7,28 1,86 742,00 711,00 363,71 382,94 Dec. 31, 2015 $ 3.090 2.203 1.086 341 6.720 1.577 4.439 1.560 346 1.087 Liquidity Current Quick Inv TO TA TO Rec TO Liquidity Ratio 2016 2,22 1,83 2015 2,84 2,38 Asset Management 2016 12,64 0,89 5,77 2015 12,34 0,85 6,08 Debt Management 15.729 526 449 1.136 200 57 2.368 6.896 256 981 8.133 10.501 2015 66,76% 43,84% PM ROA ROE 2016 14,96% 13,39% 47,78% 2015 14,17% 12,07% 36,32% Growth 2015-16 6 1.135 18.316 (12.729) (1.504) 4 5.228 $ 15.729 2014-15 Sales Net income EPS 1,45% 7,16% 16,01% -7,45% -35,54% 9,88% DPR RR 2016 41,30% 58,70% 2015 39,54% 60,46% Sustainable Growth 2016 28,05% 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 $ 1.899 $ 2.946 244 233 (11) 7 (4) 1 0 (16) 41 0 Liab/Assets Debt/Assets 2016 71,98% 47,21% 262 245 55 7 (8) 2 (1.718) 6 39 0 12 11 (42) 25 (70) (10) 2015 21,96% 24 (98) (30) (56) (27) (1) 2.299 (20) 5 33 (71) 1.616 (6) (45) (284) 22 0 30 0 29 (1) (210) (361) 28 0 28 3.191 18 (17) 2.842 (742) 59 (2.002) (946) (711) 148 (4.346) (239) 1.099 3.329 (2) (1.751) 20 (12) (2.526) (463) 33 (14) (3.551) (535) (900) 3.990 3.090 372 3.618 3.990 200 775 $ 1 236 1.502 $ 4 ITWs Current ratio is decrease the 0.6 during the two years, but quick ratio increased almost 1 from 2015 to 2016. ITW's with two ratios increase from 2015 to 2016. The Investment turnover increase alomost 0.3 from 2015 to 2016. The Receivable turnover decrease 0,3 from 2015 to 2016. the total turnover is increase 0.01 The Liabilities as a percentage of assets is improve. Both them are increase from 2016 to 2015. The Liabilities as a percentage of assets is improve. Both them are increase from 2016 to 2015. 2014 20,34% The profit margin is decrease during 3 years. The ROA and ROE is increase from 2015 to 2016. Sales growth, net income growth and Earning per share growth are positive.The sales growth is increase during 2016-16 period but negative growth during 20142015. Net income growth growth are positive growth between 2014-15 and negative growth during 2015-16. Earning per shares has both positive growth during 2014-2015. and 2015-2016 2014 25,33% 74,67% The retention ratio is 100% for the Home Depot Incand is zero for companies that payout their entire net income as dividends CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions Statement of Comprehensive Income [Abstract] Net income Other comprehensive income/(loss): Change in foreign currency translation, net of tax effects of $8, $201 and $50, respectively Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(7), $(441) and $(297), respectively Adjustment for net (gains)/losses realized and included in net income, net of tax expense/(benefit) of $131, $630 and $(36), respectively Total change in unrealized gains/losses on derivative instruments, net of tax Change in unrealized gains/losses on marketable securities: Change in fair value of marketable securities, net of tax benefit/(expense) of $(863), $264 and $(153), respectively Adjustment for net (gains)/losses realized and included in net income, net of tax expense/(benefit) of $(31), $(32) and $71, respectively Total change in unrealized gains/losses on marketable securities, net of tax Total other comprehensive income/(loss) Total comprehensive income CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowances of $53 and $63, respectively Inventories Vendor non-trade receivables Other current assets Total current assets Long-term marketable securities Property, plant and equipment, net Goodwill Acquired intangible assets, net Other non-current assets Total assets Current liabilities: Accounts payable Accrued expenses Deferred revenue Commercial paper Current portion of long-term debt Total current liabilities Deferred revenue, non-current Long-term debt Other non-current liabilities Total liabilities Commitments and contingencies Shareholders’ equity: Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares authorized; 5,336,166 and 5,578,753 shares issued and outstanding, respectively Retained earnings Accumulated other comprehensive income/(loss) Total shareholders’ equity Total liabilities and shareholders’ equity CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions Statement of Cash Flows [Abstract] Cash and cash equivalents, beginning of the year Operating activities: Net income Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization Share-based compensation expense Deferred income tax expense Changes in operating assets and liabilities: Accounts receivable, net Inventories Vendor non-trade receivables Other current and non-current assets Accounts payable Deferred revenue Other current and non-current liabilities Cash generated by operating activities Investing activities: Purchases of marketable securities Proceeds from maturities of marketable securities Proceeds from sales of marketable securities Payments made in connection with business acquisitions, net Payments for acquisition of property, plant and equipment Payments for acquisition of intangible assets Payments for strategic investments Other Cash used in investing activities Financing activities: Proceeds from issuance of common stock Excess tax benefits from equity awards Payments for taxes related to net share settlement of equity awards Payments for dividends and dividend equivalents Repurchases of common stock Proceeds from issuance of term debt, net Repayments of term debt Change in commercial paper, net Cash used in financing activities Increase/(Decrease) in cash and cash equivalents Cash and cash equivalents, end of the year Supplemental cash flow disclosure: Cash paid for income taxes, net Cash paid for interest Apple Business: The Company designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players, and sells a variety of related software, services, accessories, networking solutions and third-party digital content and applications. The Company’s products and services include iPhone®, iPad®, Mac®, iPod®, Apple Watch®, Apple TV®, a portfolio of consumer and professional software applications, iOS, macOS™, watchOS® and tvOS™ operating systems, iCloud®, Apple Pay® and a variety of accessory, service and support offerings. The Company sells and delivers digital content and applications through the iTunes Store®, App Store®, Mac App Store, TV App Store, iBooks Store™ and Apple Music® (collectively “Internet Services”). The Company sells its products worldwide through its retail stores, online stores and direct sales force, as well as through third-party cellular network carriers, wholesalers, retailers and value-added resellers. In addition, the Company sells a variety of thirdparty Apple compatible products, including application software and various accessories through its retail and online stores. The Company sells to consumers, small and mid-sized businesses and education, enterprise and government customers. The Company’s fiscal year is the 52 or 53-week period that ends on the last Saturday of September. The Company is a California corporation established in 1977. Risk: The business, financial condition and operating results of the Company can be affected by a number of factors, whether currently known or unknown, including but not limited to those described below, any one or more of which could, directly or indirectly, cause the Company’s actual financial condition and operating results to vary materially from past, or from anticipated future, financial condition and operating results. Any of these factors, in whole or in part, could materially and adversely affect the Company’s business, financial condition, operating results and stock price. Because of the following factors, as well as other factors affecting the Company’s financial condition and operating results, past financial performance should not be considered to be a reliable indicator of future performance, and investors should not use historical trends to anticipate results or trends in future periods. 12 Months Ended Sep. 24, 2016 Sep. 26, 2015 Sep. 27, 2014 $ 45.687 75 7 $ 53.394 (411) 2.905 $ 39.510 (137) 1.390 (741) (3.497) 149 (734) (592) 1.539 (483) 285 59 (134) 1.582 56 1.638 979 $ 46.666 (424) (1.427) $ 51.967 Sep. 24, 2016 Sep. 26, 2015 $ 20.484 46.671 15.754 2.132 13.545 8.283 106.869 170.430 27.010 5.414 3.206 8.757 321.686 $ 21.120 20.481 16.849 2.349 13.494 15.085 89.378 164.065 22.471 5.116 3.893 5.422 290.345 37.294 22.027 8.080 8.105 3.500 79.006 2.930 75.427 35.490 25.181 8.940 8.499 2.500 80.610 3.624 53.329 151 1.553 $ 41.063 36.074 193.437 33.427 170.990 31.251 27.416 96.364 634 128.249 $ 321.686 92.284 (345) 119.355 $ 290.345 12 Months Ended Sep. 24, 2016 Sep. 26, 2015 Sep. 27, 2014 $ 21.120 $ 13.844 $ 14.259 45.687 53.394 39.510 10.505 4.210 4.938 11.257 3.586 1.382 7.946 2.863 2.347 1.095 217 (51) 1.090 1.791 (1.554) (2.104) 65.824 611 (238) (3.735) (179) 5.400 1.042 8.746 81.266 (4.232) (76) (2.220) 167 5.938 1.460 6.010 59.713 (142.428) 21.258 90.536 (297) (12.734) (814) (1.388) (110) (45.977) (166.402) 14.538 107.447 (343) (11.247) (241) 0 (26) (56.274) (217.128) 18.810 189.301 (3.765) (9.571) (242) (10) 26 (22.579) 495 407 (1.570) 543 749 (1.499) 730 739 (1.158) (12.150) (29.722) 24.954 (2.500) (397) (20.483) (636) 20.484 (11.561) (35.253) 27.114 0 2.191 (17.716) 7.276 21.120 (11.126) (45.000) 11.960 0 6.306 (37.549) (415) 13.844 10.444 $ 1.316 13.252 $ 514 10.026 $ 339 Consolidated Statement of Comprehensive Income - USD ($) $ in Millions Consolidated Statement of Comprehensive Income Net income Other comprehensive income/(loss), before tax Foreign currency translation adjustments (Note L) Net changes related to available-for-sale securities (Note L) Unrealized gains/(losses) arising during the period Reclassification of (gains)/losses to net income Total net changes related to available-for-sale securities Unrealized gains/(losses) on cash flow hedges (Note L) Unrealized gains/(losses) arising during the period Reclassification of (gains)/losses to net income Total unrealized gains/(losses) on cash flow hedges Retirement-related benefit plans (Note L) Prior service costs/(credits) Net (losses)/gains arising during the period Curtailments and settlements Amortization of prior service (credits)/costs Amortization of net (gains)/losses Total retirement-related benefit plans Other comprehensive income/(loss), before tax (Note L) Income tax (expense)/benefit related to items of other comprehensive income (Note L) Other comprehensive income/(loss) (Note L) Total comprehensive income/(loss) Consolidated Statement of Financial Position - USD ($) $ in Millions Current assets Cash and cash equivalents Marketable securities (Note D) Notes and accounts receivable - trade (net of allowances of $290 in 2016 and $367 in 2015) Short-term financing receivables (net of allowances of $337 in 2016 and $490 in 2015) (Note F) Other accounts receivable (net of allowances of $48 in 2016 and $51 in 2015) Inventories (Note E) Prepaid expenses and other current assets Total current assets Property, plant and equipment (Note G) Less: Accumulated depreciation (Note G) Property, plant and equipment - net (Note G) Long-term financing receivables (net of allowances of $101 in 2016 and $118 in 2015) (Note F) Prepaid pension assets (Note S) Deferred taxes (Note N) Goodwill (Note I) Intangible assets - net (Note I) Investments and sundry assets (Note H) Total assets Current liabilities Taxes (Note N) Short-term debt (Notes D&J) Accounts payable Compensation and benefits Deferred income Other accrued expenses and liabilities Total current liabilities Long-term debt (Notes D&J) Retirement and nonpension postretirement benefit obligations (Note S) Deferred income Other liabilities (Note K) Total liabilities Contingencies and commitments (Note M) IBM stockholders' equity Common stock, par value $0.20 per share, and additional paid-in capital; Shares authorized: 4,687,500,000 (Shares issued: 2016 - 2,225,116,815; 2015 - 2,221,223,449) Retained earnings Treasury stock, at cost (shares: 2016 - 1,279,249,412; 2015 - 1,255,494,724) Accumulated other comprehensive income/(loss) Total IBM stockholders' equity Noncontrolling interests (Note A) Total equity Total liabilities and equity Consolidated Statement of Cash Flows - USD ($) $ in Millions Cash flows from operating activities Net income Adjustments to reconcile net income to cash provided by operating activities Depreciation Amortization of intangibles Stock-based compensation Deferred taxes Net (gain)/loss on asset sales and other Loss on microelectronics business disposal Change in operating assets and liabilities, net of acquisitions/divestitures Receivables (including financing receivables) Retirement related Inventories Other assets/other liabilities Accounts payable Net cash provided by operating activities Cash flows from investing activities Payments for property, plant and equipment Proceeds from disposition of property, plant and equipment Investment in software Purchases of marketable securities and other investments Proceeds from disposition of marketable securities and other investments Non-operating finance receivables - net Acquisition of businesses, net of cash acquired Divestiture of businesses, net of cash transferred Net cash used in investing activities Cash flows from financing activities Proceeds from new debt Payments to settle debt Short-term borrowings/(repayments) less than 90 days - net Common stock repurchases Common stock transactions - other Cash dividends paid Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents Net change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental data Income taxes paid - net of refunds received Interest paid on debt IBM: Business: International Business Machines Corporation (IBM or the company) was incorporated in the State of New York on June 16, 1911, as the Computing-Tabulating-Recording Co. (C-T-R), a consolidation of the Computing Scale Co. of America, the Tabulating Machine Co. and The International Time Recording Co. of New York. Since that time, IBM has focused on the intersection of business insight and technological innovation, and its operations and aims have been international in nature. This was signaled over 90 years ago, in 1924, when C-T-R changed its name to International Business Machines Corporation. And it continues today—the company creates value for clients through integrated solutions and products that leverage data, information technology, deep expertise in industries and business processes, and a broad ecosystem of partners and alliances. Risk: 1. Downturn in Economic Environment and Client Spending Budgets could impact the Company's Business. 2. The Company may not meet its Growth and Productivity Objectives under its Internal Business Transformation and Global 12 Months Ended Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014 $ 11.872 $ 13.190 $ 12.022 (20) (1.379) (1.636) (38) 34 (3) (54) 86 32 (29) 5 (24) 618 (1.072) (454) 958 (97) 861 6 (2.963) 33 (100) 3.304 279 (1.523) (208) 1 (9.799) 24 (114) 2.531 (7.357) (8.156) 1.883 (1.731) $ 11.459 (6.274) $ 5.748 243 102 345 (2.490) (16) (107) 2.764 150 472 (263) 209 $ 12.081 Dec. 31, 2016 Dec. 31, 2015 $ 7.826 701 9.182 19.006 1.057 1.553 4.564 43.888 30.133 19.303 10.830 9.021 3.034 5.224 36.199 4.688 $ 7.686 508 8.333 19.020 1.201 1.551 4.205 42.504 29.342 18.615 10.727 10.013 1.734 4.822 32.021 3.487 Liquidity Current Quick Inv TO TA TO Rec TO Liquidity Ratio 2016 1,21 1,17 2015 1,24 1,20 Asset Management 2016 7,64 0,10 1,29 2015 8,50 0,12 1,58 Debt Management 2016 2015 4.585 117.470 5.187 110.495 3.235 7.513 6.209 3.577 11.035 4.705 36.275 34.655 17.070 3.600 7.477 99.078 2.847 6.461 6.028 3.560 11.021 4.353 34.269 33.428 16.504 3.771 8.099 96.071 Liab/Assets Debt/Assets 84,34% 29,50% 86,95% 30,25% 2016 2015 PM ROA ROE Growth 2015-16 2014-15 Sales Net income EPS 2016 2015 DPR RR 53.935 152.759 (159.050) (29.398) 18.246 146 18.392 $ 117.470 Dec. 31, 2016 $ 11.872 2.837 1.544 544 (1.132) 62 712 54 53.262 146.124 (155.518) (29.607) 14.262 162 14.424 $ 110.495 Sustainable Growth 2016 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 $ 13.190 2.662 1.193 468 1.387 481 71 812 (22) $ 12.022 3.145 1.347 512 (237) (1.535) 3.381 1.270 (655) 2015 (14) 282 197 16.958 133 (3.448) 81 17.008 (39) (1.886) (456) 16.868 (3.567) 424 (583) (5.917) 5.692 (891) (5.679) (454) (10.976) (3.579) 370 (572) (3.073) 2.842 (398) (3.349) (401) (8.159) (3.740) 404 (443) (2.338) 2.493 (1.078) (656) 2.357 (3.001) 9.132 (6.395) 26 (3.502) 204 (5.256) (5.791) (51) 140 7.686 7.826 5.540 (5.622) 101 (4.609) 322 (4.897) (9.166) (473) (790) 8.476 7.686 8.180 (4.644) (1.753) (13.679) 709 (4.265) (15.452) (655) (2.240) 10.716 8.476 2.657 $ 995 5.748 $ 1.061 1.078 $ 1.158 IBM's Current ratio is decrease the 0.3 during the two years, but quick ratio increased 0.3 from 2015 to 2016. IBM's with three ratios decreasing from 2015 to 2016. The Investment turnover decrease alomost 1 from 2015 to 2016. The Receivable turnover decrease 0.02 from 2015 to 2016. The Liabilities as a percentage of assets is decrease. Both them are decrease from 2016 to 2015. The Liabilities as a percentage of assets is decrease. Both them are decrease from 2016 to 2015. 2014 2014 CONSOLIDATED BALANCE SHEETS - USD ($) ASSETS Property, plant and equipment Construction in progress Total property, plant and equipment and construction in progress Less accumulated depreciation and amortization Net property, plant and equipment Current assets Cash and cash equivalents Accounts receivable, less allowance for doubtful accounts of $13,367 in 2016 and $15,283 in 2015 Gas stored underground Other current assets Total current assets Goodwill Deferred charges and other assets Total assets Shareholders' equity Common stock, no par value (stated at $.005 per share); 200,000,000 shares authorized; issued and outstanding: 2016 — 103,930,560 shares, 2015 — 101,478,818 shares Additional paid-in capital Accumulated other comprehensive loss Retained earnings Shareholders' equity Long-term debt Total capitalization Current liabilities Accounts payable and accrued liabilities Other current liabilities Short-term debt Current maturities of long-term debt Total current liabilities Deferred income taxes Regulatory cost of removal obligation Pension and postretirement liabilities Deferred credits and other liabilities Total shareholders' equity and liabilities CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands CASH FLOWS FROM OPERATING ACTIVITIES Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Deferred income taxes Stock-based compensation Debt financing costs Other Changes in assets and liabilities: (Increase) decreased in accounts receivable Decrease in gas stored underground (Increase) decrease in other current assets (Increase) decrease in deferred charges and other assets Increase (decrease) in account payable and accrued liabilities Increase (decrease) in other current liabilities Increase (decrease) in deferred credits and other liabilities Net cash provided by operating activities CASH FLOWS USED IN INVESTING ACTIVITIES Capital expenditures Payments to Acquire Available-for-sale Securities Proceeds from Sale of Available-for-sale Securities Proceeds from Maturities, Prepayments and Calls of Available-for-sale Securities Other, net Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Net increase (decrease) in short-term debt Proceeds from issuance of long-term debt Net proceeds from equity offering Issuance of common stock through stock purchase and employee retirement plans Settlement of interest rate agreement Interest rate agreements cash collateral Repayment of long-term debt Cash dividends paid Repurchase of equity awards Other Net cash provided by (used in) financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period CASH PAID (RECEIVED) DURING THE PERIOD FOR: Interest Income taxes Atomos Energy Co Business: Atmos Energy Corporation, headquartered in Dallas, Texas, and incorporated in Texas and Virginia, is engaged primarily in the regulated natural gas distribution and pipeline businesses as well as other nonregulated natural gas businesses. We deliver natural gas through regulated sales and transportation arrangements to over three million residential, commercial, public authority and industrial customers in eight states located primarily in the South, which makes us one of the country’s largest natural-gas-only distributors based on number of customers. We also operate one of the largest intrastate pipelines in Texas based on miles of pipe. largest natural-gas-only distributors based on number of customers. We also operate one of the largest intrastate pipelines in Texas based on miles of pipe. Risk: The Company is dependent on continued access to the credit and capital markets to execute our business strategy. Sep. 30, 2016 Sep. 30, 2015 $ 9.987.078.000 184.062.000 10.171.140.000 1.890.629.000 8.280.511.000 ############## 280.398.000 9.240.100.000 1.809.520.000 7.430.580.000 47.534.000 300.007.000 28.653.000 295.160.000 233.316.000 100.829.000 681.686.000 743.407.000 305.285.000 10.010.889.000 236.603.000 65.890.000 626.306.000 742.702.000 275.484.000 9.075.072.000 520.000 507.000 2.388.027.000 (188.022.000) 1.262.534.000 3.463.059.000 2.188.779.000 5.651.838.000 259.434.000 449.036.000 829.811.000 250.000.000 1.788.281.000 1.603.056.000 424.281.000 297.743.000 245.690.000 $ 10.010.889.000 2.230.591.000 (109.330.000) 1.073.029.000 3.194.797.000 2.437.515.000 5.632.312.000 238.942.000 457.954.000 457.927.000 0 1.154.823.000 1.411.315.000 427.553.000 287.373.000 161.696.000 ############## 12 Months Ended Sep. 30, 2016 Sep. 30, 2015 $ 350.104 $ 315.075 293.096 274.796 Sep. 30, 2014 ######### 253.987 Texas and s as well as e country’s the largest 193.556 14.760 5.667 1.019 192.886 15.980 5.922 359 189.952 14.721 9.409 541 (4.847) 20.577 (18.739) (24.860) (5.195) (44.482) 14.334 794.990 48.240 33.234 (11.951) 51.614 (59.112) 896 (56.025) 811.914 (41.408) (31.996) (24.411) 28.875 60.465 2.413 (19.552) 732.813 (1.086.950) (32.551) 27.019 6.290 (963.621) (29.527) 24.889 6.235 (824.441) (32.734) 24.872 5.215 6.460 (1.079.732) 5.422 (956.602) 2.109 (824.979) 371.884 0 98.574 34.278 0 (25.670) 0 (175.126) 0 (317) 303.623 18.881 28.653 47.534 261.232 499.060 0 30.952 13.364 0 (500.000) (160.018) (7.985) (5.522) 131.083 (13.605) 42.258 28.653 (171.289) 0 390.205 4.274 0 0 0 (146.248) (8.717) 0 68.225 (23.941) 66.199 42.258 154.748 $ 7.794 151.334 $ 1.802 156.606 $ (610) the largest
Date 12/1/2016 11/1/2016 10/3/2016 9/1/2016 8/1/2016 7/1/2016 6/1/2016 5/2/2016 4/1/2016 3/1/2016 2/1/2016 1/4/2016 12/1/2015 11/2/2015 10/1/2015 9/1/2015 8/3/2015 7/1/2015 6/1/2015 5/1/2015 4/1/2015 3/2/2015 2/2/2015 1/2/2015 12/1/2014 11/3/2014 10/1/2014 9/2/2014 8/1/2014 7/1/2014 6/2/2014 5/1/2014 4/1/2014 3/3/2014 2/3/2014 1/2/2014 12/2/2013 11/1/2013 10/1/2013 9/3/2013 8/1/2013 7/1/2013 6/3/2013 5/1/2013 4/1/2013 Stock 1 TJ Maxx $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 74,87 78,07 73,23 74,26 76,90 80,89 76,45 75,35 74,80 77,30 73,10 70,06 69,74 69,43 71,77 70,04 68,96 68,27 64,70 62,95 62,90 68,27 66,90 64,10 66,67 64,32 61,39 57,36 57,79 51,50 51,36 52,62 56,06 58,44 59,22 55,13 61,26 60,44 58,29 54,07 50,55 49,76 47,87 48,40 46,50 HPR Returns -0,041 0,066 -0,014 -0,034 -0,049 0,058 0,015 0,007 -0,032 0,057 0,043 0,005 0,004 -0,033 0,025 0,016 0,010 0,055 0,028 0,001 -0,079 0,021 0,044 -0,038 0,037 0,048 0,070 -0,007 0,122 0,003 -0,024 -0,061 -0,041 -0,013 0,074 -0,100 0,014 0,037 0,078 0,070 0,016 0,040 -0,011 0,041 0,043 Stock 2 Foot Locker $ 75,84 $ 74,49 $ 75,35 $ 68,25 $ 70,31 $ 71,09 $ 66,23 $ 66,90 $ 64,84 $ 58,90 $ 53,94 $ 54,98 $ 60,41 $ 63,13 $ 61,17 $ 66,12 $ 63,45 $ 63,37 $ 66,05 $ 69,91 $ 68,76 $ 68,53 $ 64,86 $ 61,17 $ 57,54 $ 60,73 $ 54,14 $ 51,30 $ 53,94 $ 55,01 $ 53,78 $ 53,21 $ 53,65 $ 45,45 $ 48,28 $ 45,87 $ 44,30 $ 44,50 $ 39,51 $ 36,56 $ 39,06 $ 36,66 $ 32,71 $ 31,80 $ 30,17 3/1/2013 2/1/2013 1/2/2013 12/3/2012 11/1/2012 10/1/2012 9/4/2012 8/1/2012 7/2/2012 6/1/2012 5/1/2012 4/2/2012 3/1/2012 2/1/2012 1/3/2012 12/1/2011 11/1/2011 10/3/2011 9/1/2011 8/1/2011 7/1/2011 6/1/2011 5/2/2011 4/1/2011 3/1/2011 2/1/2011 1/3/2011 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 44,58 42,88 42,97 40,37 42,17 39,49 42,48 43,43 41,89 40,62 40,17 39,35 37,47 34,54 32,06 30,37 29,03 27,64 26,01 25,61 25,84 24,54 24,77 24,96 23,15 23,22 21,99 0,040 -0,002 0,064 -0,043 0,068 -0,071 -0,022 0,037 0,031 0,011 0,021 0,050 0,085 0,078 0,056 0,046 0,050 0,062 0,016 -0,009 0,053 -0,009 -0,008 0,078 -0,003 0,056 Average Return Standard Deviation Correlation of Variation $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 33,85 32,73 31,98 32,49 31,71 31,66 31,81 29,59 33,02 30,86 32,54 31,68 30,26 27,87 28,93 27,88 28,13 26,42 23,77 21,45 21,23 19,67 17,94 18,64 19,40 21,07 22,11 0,02 0,04 2,38 S2 Correlation Matrix S3 -0,01 S4 0,43 -0,02 0,36 -0,05 -0,02 St S1 Market Risk Unique Risk S2 0,01 0,00021 0,9998 0,39 0,14954 0,8505 S3 -0,03 0,00082 0,9992 HPR Returns 0,018 -0,011 0,104 -0,029 -0,011 0,073 -0,010 0,032 0,101 0,092 -0,019 -0,090 -0,043 0,032 -0,075 0,042 0,001 -0,041 -0,055 0,017 0,003 0,057 0,060 0,063 -0,052 0,122 0,055 -0,049 -0,019 0,023 0,011 -0,008 0,181 -0,059 0,053 0,035 -0,005 0,126 0,081 -0,064 0,066 0,121 0,029 0,054 -0,109 Stock 3 Illinois Tool Works HPR Returns $ 121,86 -0,017 $ 123,92 0,102 $ 112,43 -0,052 $ 118,63 0,014 $ 117,01 0,030 $ 113,62 0,108 $ 102,55 -0,012 $ 103,81 0,014 $ 102,33 0,020 $ 100,29 0,093 $ 91,77 0,046 $ 87,70 -0,028 $ 90,25 -0,008 $ 90,98 0,022 $ 89,00 0,117 $ 79,68 -0,020 $ 81,28 -0,055 $ 86,03 -0,025 $ 88,26 -0,017 $ 89,75 0,003 $ 89,51 -0,037 $ 92,92 -0,012 $ 94,09 0,062 $ 88,60 -0,017 $ 90,13 0,003 $ 89,90 0,043 $ 86,22 0,079 $ 79,94 -0,037 $ 83,06 0,071 $ 77,56 -0,059 $ 82,44 0,016 $ 81,11 0,015 $ 79,87 0,048 $ 76,22 -0,009 $ 76,91 0,046 $ 73,53 -0,062 $ 78,38 0,062 $ 73,82 0,010 $ 73,08 0,033 $ 70,74 0,073 $ 65,93 -0,008 $ 66,46 0,041 $ 63,81 -0,008 $ 64,33 0,086 $ 59,22 0,059 Stock 4 Chruch & Dwight HPR Returns $ 44,02 0,009 $ 43,62 -0,089 $ 47,88 0,007 $ 47,54 -0,036 $ 49,31 0,016 $ 48,56 -0,045 $ 50,86 0,045 $ 48,68 0,066 $ 45,65 0,006 $ 45,40 0,016 $ 44,70 0,085 $ 41,20 -0,010 $ 41,63 -0,010 $ 42,07 0,000 $ 42,06 0,026 $ 40,99 -0,028 $ 42,15 0,003 $ 42,02 0,064 $ 39,48 -0,034 $ 40,87 0,039 $ 39,34 -0,050 $ 41,40 0,003 $ 41,27 0,056 $ 39,07 0,027 $ 38,05 0,027 $ 37,03 0,064 $ 34,81 0,032 $ 33,73 0,028 $ 32,80 0,068 $ 30,71 -0,082 $ 33,47 0,010 $ 33,12 0,008 $ 32,87 -0,001 $ 32,90 0,016 $ 32,38 0,058 $ 30,61 -0,026 $ 31,42 0,016 $ 30,93 0,006 $ 30,75 0,085 $ 28,34 0,012 $ 28,01 -0,064 $ 29,93 0,032 $ 28,99 0,015 $ 28,57 -0,044 $ 29,89 -0,011 0,034 0,024 -0,016 0,025 0,001 -0,005 0,075 -0,104 0,070 -0,051 0,027 0,047 0,086 -0,037 0,038 -0,009 0,064 0,112 0,108 0,011 0,079 0,097 -0,037 -0,040 -0,079 -0,047 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 55,90 56,07 57,28 55,44 55,79 55,57 53,89 53,38 48,92 47,62 50,20 51,30 51,07 49,48 47,12 41,50 40,07 42,88 36,68 40,71 43,56 49,42 49,83 50,78 46,70 46,74 46,21 -0,003 -0,021 0,033 -0,006 0,004 0,031 0,009 0,091 0,027 -0,051 -0,021 0,005 0,032 0,050 0,135 0,036 -0,066 0,169 -0,099 -0,065 -0,118 -0,008 -0,019 0,087 -0,001 0,011 0,02 0,06 3,16 S5 S4 -0,13 0,01818 0,9818 30,23 28,98 26,91 24,94 25,21 23,52 25,02 25,37 26,58 25,59 24,56 23,33 22,59 21,92 20,73 20,91 20,22 20,11 20,12 19,82 18,28 18,37 19,06 18,61 17,90 17,02 15,45 0,043 0,077 0,079 -0,011 0,072 -0,060 -0,014 -0,046 0,039 0,042 0,053 0,033 0,030 0,058 -0,009 0,034 0,006 0,000 0,015 0,084 -0,005 -0,036 0,024 0,040 0,052 0,102 0,02 0,05 3,53 S6 0,36 0,27 0,36 0,11 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ S7 0,22 -0,07 0,49 -0,01 0,33 0,02 0,04 2,64 S8 0,34 -0,02 0,45 0,23 0,34 0,31 Stock Correlations with the Market S5 S6 -0,03 -0,05 0,00110 0,00253 0,9989 0,9975 S9 0,28 0,20 0,27 0,23 0,33 0,36 0,26 S7 0,02 0,06 -0,03 0,00 0,02 0,11 -0,21 0,10 S8 -0,06 0,00341 0,9966 -0,06 0,00386 0,9961 Stock 5 Apple $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 115,32 110,04 112,47 111,99 105,10 102,67 94,19 98,39 91,80 106,73 94,69 94,81 102,52 115,23 115,90 106,98 109,36 117,11 121,10 125,78 120,33 119,64 123,51 112,20 105,71 113,90 102,98 96,07 97,74 90,71 88,18 85,80 79,54 72,35 70,93 67,08 75,17 74,51 69,63 63,51 64,91 59,89 52,48 59,52 58,21 HPR Returns 0,048 -0,022 0,004 0,066 0,024 0,090 -0,043 0,072 -0,140 0,127 -0,001 -0,075 -0,110 -0,006 0,083 -0,022 -0,066 -0,033 -0,037 0,045 0,006 -0,031 0,101 0,061 -0,072 0,106 0,072 -0,017 0,078 0,029 0,028 0,079 0,099 0,020 0,058 -0,108 0,009 0,070 0,096 -0,021 0,084 0,141 -0,118 0,022 0,000 Stock 6 NetApp $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 34,92 36,20 33,60 35,27 34,06 25,95 24,03 24,95 23,10 26,49 24,11 21,29 25,57 29,55 32,77 28,37 30,63 29,85 30,07 31,83 34,54 33,63 36,66 35,85 39,15 40,19 40,43 40,41 39,66 36,53 34,20 34,66 33,35 34,41 37,69 39,49 38,22 38,32 36,06 39,45 38,45 38,06 34,83 34,60 32,17 HPR Returns -0,035 0,077 -0,047 0,036 0,313 0,080 -0,037 0,080 -0,128 0,099 0,133 -0,167 -0,135 -0,098 0,155 -0,074 0,026 -0,007 -0,055 -0,079 0,027 -0,083 0,022 -0,084 -0,026 -0,006 0,000 0,019 0,085 0,068 -0,013 0,039 -0,031 -0,087 -0,046 0,033 -0,003 0,063 -0,086 0,026 0,010 0,093 0,007 0,076 0,021 Stock 7 East Group Properties $ 73,21 $ 67,17 $ 66,77 $ 72,33 $ 71,51 $ 71,74 $ 67,16 $ 61,84 $ 57,70 $ 58,30 $ 51,83 $ 51,03 $ 53,15 $ 55,04 $ 53,10 $ 51,23 $ 50,48 $ 56,28 $ 52,57 $ 51,49 $ 52,94 $ 55,66 $ 57,75 $ 59,25 $ 58,04 $ 61,05 $ 62,54 $ 55,03 $ 58,35 $ 56,12 $ 57,80 $ 56,81 $ 56,44 $ 56,14 $ 54,89 $ 52,50 $ 51,25 $ 53,11 $ 55,80 $ 51,90 $ 48,81 $ 53,72 $ 48,87 $ 50,56 $ 54,26 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 58,20 58,03 59,54 69,56 76,50 77,46 86,80 86,56 79,13 75,66 74,85 75,66 77,68 70,28 59,14 52,47 49,52 52,44 49,40 49,86 50,59 43,49 45,06 45,36 45,15 45,76 43,96 0,003 -0,025 -0,144 -0,091 -0,012 -0,108 0,003 0,094 0,046 0,011 -0,011 -0,026 0,105 0,188 0,127 0,060 -0,056 0,062 -0,009 -0,014 0,163 -0,035 -0,007 0,005 -0,013 0,041 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 31,50 31,20 33,19 30,93 29,24 24,81 30,32 31,83 30,12 29,34 27,44 35,80 41,28 39,65 34,80 33,44 33,96 37,77 31,28 34,69 43,82 48,67 50,50 48,05 44,40 47,63 50,46 0,009 -0,060 0,073 0,058 0,178 -0,182 -0,048 0,057 0,027 0,069 -0,234 -0,133 0,041 0,139 0,041 -0,015 -0,101 0,207 -0,098 -0,208 -0,100 -0,036 0,051 0,082 -0,068 -0,056 0,02 0,07 4,41 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 50,07 48,43 47,77 45,87 44,12 43,93 44,90 44,80 44,70 44,55 41,00 41,61 41,54 39,45 38,88 35,59 34,40 35,24 30,82 32,23 35,51 33,90 36,96 36,29 34,64 35,42 33,91 -0,001 0,10 -157,27 S10 0,22 0,03 0,18 -0,05 0,00 -0,02 0,63 -0,06 -0,07 S9 0,22 0,05054 0,9495 S1 S2 S3 S4 S5 S6 S7 S8 S9 5,61% Average Standard Deviation Good Better Best S10 0,06 0,00308 0,9969 7,61% 5,61% 3,61% y HPR Returns 0,090 0,006 -0,077 0,011 -0,003 0,068 0,086 0,072 -0,010 0,125 0,016 -0,040 -0,034 0,037 0,037 0,015 -0,103 0,071 0,021 -0,027 -0,049 -0,036 -0,025 0,021 -0,049 -0,024 0,136 -0,057 0,040 -0,029 0,018 0,006 0,005 0,023 0,046 0,024 -0,035 -0,048 0,075 0,063 -0,091 0,099 -0,034 -0,068 0,084 Stock 8 IBM $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 164,20 160,95 151,11 156,19 156,22 156,57 147,96 149,87 140,90 146,22 126,51 119,27 131,53 133,25 132,64 137,27 140,03 152,12 152,75 159,31 159,64 149,59 150,93 141,89 148,49 150,09 151,12 174,50 176,77 175,15 165,65 168,47 178,50 174,88 168,23 159,64 169,48 162,35 161,06 166,43 163,81 174,42 170,91 186,03 180,28 HPR Returns 0,020 0,065 -0,032 0,000 -0,002 0,058 -0,013 0,064 -0,036 0,156 0,061 -0,093 -0,013 0,005 -0,034 -0,020 -0,079 -0,004 -0,041 -0,002 0,067 -0,009 0,064 -0,044 -0,011 -0,007 -0,134 -0,013 0,009 0,057 -0,017 -0,056 0,021 0,040 0,054 -0,058 0,044 0,008 -0,032 0,016 -0,061 0,021 -0,081 0,032 -0,050 Stock 9 Atmos Energy CorpHPR Returns $ 79,83 0,011 $ 78,99 0,009 $ 78,29 0,034 $ 75,74 0,027 $ 73,72 0,043 $ 70,71 -0,038 $ 73,50 -0,001 $ 73,58 0,010 $ 72,82 -0,071 $ 78,39 -0,019 $ 79,90 0,116 $ 71,62 0,011 $ 70,86 -0,023 $ 72,53 0,070 $ 67,79 0,009 $ 67,20 0,098 $ 61,20 0,012 $ 60,49 -0,004 $ 60,75 0,083 $ 56,10 0,062 $ 52,83 -0,002 $ 52,96 0,078 $ 49,11 -0,051 $ 51,74 0,008 $ 51,34 -0,024 $ 52,58 0,043 $ 50,43 -0,061 $ 53,72 0,021 $ 52,61 0,038 $ 50,69 0,021 $ 49,66 0,111 $ 44,69 -0,057 $ 47,37 0,054 $ 44,94 -0,095 $ 49,67 0,066 $ 46,60 -0,011 $ 47,12 0,083 $ 43,51 0,022 $ 42,56 -0,032 $ 43,96 0,057 $ 41,59 0,022 $ 40,70 0,012 $ 40,21 0,039 $ 38,68 0,056 $ 36,65 -0,080 0,034 0,014 0,041 0,040 0,004 -0,021 0,002 0,002 0,003 0,087 -0,015 0,002 0,053 0,015 0,092 0,035 -0,024 0,143 -0,044 -0,092 0,047 -0,083 0,018 0,048 -0,022 0,045 0,01 0,05 4,40 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 189,86 178,76 180,00 169,79 168,47 171,68 183,08 171,96 172,22 171,87 169,51 181,21 182,59 172,16 167,89 160,29 163,88 160,30 151,82 149,25 157,20 148,30 146,03 146,80 140,34 139,31 138,87 0,062 -0,007 0,060 0,008 -0,019 -0,062 0,065 -0,002 0,002 0,014 -0,065 -0,008 0,061 0,025 0,047 -0,022 0,022 0,056 0,017 -0,051 0,060 0,016 -0,005 0,046 0,007 0,003 0,0035 0,05 13,62 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 39,84 36,98 38,02 39,64 38,14 34,10 33,08 31,09 30,99 31,52 31,36 30,62 31,11 30,44 28,76 27,98 27,02 26,39 27,53 28,33 29,06 28,86 27,29 28,20 27,81 27,66 27,74 0,077 -0,027 -0,041 0,039 0,118 0,031 0,064 0,003 -0,017 0,005 0,024 -0,016 0,022 0,058 0,028 0,036 0,024 -0,041 -0,028 -0,025 0,007 0,058 -0,032 0,014 0,005 -0,003 0,02 0,05 2,86 Stock 10 IDACORP Inc. $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ HPR Returns 79,75 75,62 77,28 77,17 74,99 79,20 79,69 71,71 70,75 72,56 69,03 67,20 65,66 65,70 64,06 62,01 56,90 59,07 53,39 56,56 56,93 59,33 59,09 63,64 62,03 58,21 58,81 49,87 52,76 49,41 53,36 50,59 51,40 50,79 51,45 47,89 47,08 46,93 46,47 43,59 43,11 47,18 42,70 42,23 43,65 0,055 -0,021 0,001 0,029 -0,053 -0,006 0,111 0,014 -0,025 0,051 0,027 0,023 -0,001 0,026 0,033 0,090 -0,037 0,106 -0,056 -0,007 -0,040 0,004 -0,071 0,026 0,066 -0,010 0,179 -0,055 0,068 -0,074 0,055 -0,016 0,012 -0,013 0,074 0,017 0,003 0,010 0,066 0,011 -0,086 0,105 0,011 -0,033 0,019 Market S&P 500 Index HPR Returns $ 2.348,69 -0,005938084 $ 2.362,72 -0,000389197 $ 2.363,64 0,03719816 $ 2.278,87 0,017884358 $ 2.238,83 0,018200762 $ 2.198,81 0,034174522 $ 2.126,15 -0,019425679 $ 2.168,27 -0,001234451 $ 2.170,95 -0,001219243 $ 2.173,60 0,035609801 $ 2.098,86 0,000910921 $ 2.096,95 0,015324602 $ 2.065,30 0,002699398 $ 2.059,74 0,065991115 $ 1.932,23 -0,00412836 $ 1.940,24 -0,050735322 $ 2.043,94 -0,017530185 $ 2.080,41 0,000504869 $ 2.079,36 0,082983118 $ 1.920,03 -0,026442832 $ 1.972,18 -0,062580818 $ 2.103,84 0,01974203 $ 2.063,11 -0,021011672 $ 2.107,39 0,010491382 $ 2.085,51 0,00852082 $ 2.067,89 -0,017396107 $ 2.104,50 0,054892511 $ 1.994,99 -0,031040806 $ 2.058,90 -0,004188588 $ 2.067,56 0,024533589 $ 2.018,05 0,023201461 $ 1.972,29 -0,015513837 $ 2.003,37 0,037655295 $ 1.930,67 -0,015079831 $ 1.960,23 0,019058332 $ 1.923,57 0,02103028 $ 1.883,95 0,006200789 $ 1.872,34 0,006932166 $ 1.859,45 0,04311703 $ 1.782,59 -0,035582906 $ 1.848,36 0,023562792 $ 1.805,81 0,028049472 $ 1.756,54 0,044595753 $ 1.681,55 0,029749523 $ 1.632,97 -0,031298019 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 42,82 41,42 40,83 38,14 37,58 39,01 37,75 36,16 36,52 36,42 34,00 34,97 35,29 34,74 35,90 36,12 34,91 34,13 31,93 32,29 32,88 33,13 33,02 32,63 31,71 31,41 30,86 0,034 0,014 0,071 0,015 -0,037 0,034 0,044 -0,010 0,003 0,071 -0,028 -0,009 0,016 -0,032 -0,006 0,035 0,023 0,069 -0,011 -0,018 -0,007 0,003 0,012 0,029 0,010 0,018 0,01 0,05 3,20 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1.685,73 1.606,28 1.630,74 1.597,57 1.569,19 1.514,68 1.498,11 1.426,19 1.416,18 1.412,16 1.440,67 1.406,58 1.379,32 1.362,16 1.310,33 1.397,91 1.408,47 1.365,68 1.312,41 1.257,60 1.246,96 1.253,30 1.131,42 1.218,89 1.292,28 1.320,64 1.345,20 0,04946208 -0,014999302 0,020762812 0,018085768 0,035987724 0,011060649 0,050428097 0,00706823 0,002846717 -0,01978941 0,024236154 0,01976337 0,012597574 0,039554982 -0,062650726 -0,007497453 0,031332315 0,040589464 0,043583062 0,008532764 -0,005058715 0,107723039 -0,071761988 -0,056791107 -0,021474426 -0,018257461 0,01 0,03 3,90 Future Prices Based on Constant Growth Model TJX 2016 2017 2018 2019 2020 D0 D1 D2 D3 $ 1,25 $ 1,50 $ 1,81 $ 2,17 0,22 0,22 0,22 0,22 78,56 $ 94,42 $ 113,49 $ 136,41 $ 163,95 Projected Dividends Required Return Prices $ Projected Dividends Required Return Prices Future Prices Based on Constant Growth Model FL 2016 2017 2018 2019 2020 D0 D1 D2 D3 $ 1,24 $ 1,40 $ 1,57 $ 1,77 0,14 0,14 0,14 0,14 $ 75,84 $ 85,47 $ 96,33 $ 108,56 $ 122,35 Future Prices Based on Constant Growth Model ITW 2016 2017 2018 2019 $ 2,60 $ 2,82 $ 3,05 $ $ 0,10 $ 0,10 $ 0,10 $ 134,87 $ 146,10 $ 158,28 $ 171,46 $ 2020 3,31 0,10 185,74 Projected Dividends Required Return Prices $ Forcasted Dividends Required Return Price Forecasted Price CHD 2016 2017 2018 D0 D1 $ 0,72 $ 0,77 $ 8,67% 8,67% $ 44,16 $ 47,27 $ 50,60 $ Projected Dividends Required Return Prices Future Prices Based on Constant Growth Model AAPL 2016 2017 2018 2019 2020 D0 D1 D2 D3 $ 2,28 $ 2,74 $ 3,29 $ 3,96 0,04 0,04 0,04 0,04 $ 142,27 $ 171,00 $ 205,53 $ 247,03 $ 296,91 Forcasted Dividends Required Return Price Forecasted Price IBM 2016 2017 2018 D0 D1 $ 5,60 $ 5,70 $ 5,31% 5,31% $ 160,38 $ 163,30 $ 166,27 $ 2019 D2 2020 D3 0,82 $ 0,88 8,67% 8,67% 54,16 $ 57,98 2019 D2 2020 D3 5,81 $ 5,91 5,31% 5,31% 169,29 $ 172,37 2016 $ 2017 1,80 7,52% 84,03 Forecasted Price ATO 2018 $ 1,89 $ 7,52% $ 88,45 $ Forcasted Dividends Required Return Price $ Forcasted Dividends Required Return Price Forecasted Price IDA 2016 2017 2018 D0 D1 $ 2,20 $ 2,33 $ 8% 8% $ 85,24 $ 90,16 $ 95,36 $ 79,83 $ 2019 1,99 $ 7,52% 93,11 $ 2019 D2 2020 2,10 7,52% 98,01 2020 D3 2,46 $ 2,60 8% 8% 100,86 $ 106,68 Projected Dividends Required Return Prices $ Future Prices Based on Constant Growth Model NTAP 2016 2017 2018 2019 2020 D0 D1 D2 D3 $ 0,76 $ 0,91 $ 1,10 $ 1,32 0,08 0,08 0,08 0,08 34,92 $ 41,97 $ 50,45 $ 60,63 $ 72,88 2021 2022 D4 D5 $ 2,61 $ 3,14 0,22 $ 197,05 2021 2022 D4 D5 $ 2,00 $ 2,25 0,14 $ 137,89 $ $ $ 2021 3,58 $ 0,10 $ 201,21 Growth Rate for TJ Maxx D(2017) $ 1,25 D(2016) $ 1,04 Growth Rate 20,19% Growth Rate for FL D(2017) $ 1,24 D(2016) $ 1,10 Growth Rate 0,127 Growth Rate for ITW D(2017) $ 2,60 2022 D(2016) $ 2,40 3,88 Growth Rate 0,083 0,10 2021 2022 D4 D5 $ 0,95 $ 1,01 8,67% $ 62,06 2021 2022 D4 D5 $ 4,76 $ 4,89 0,04 $ 304,93 2021 2022 D4 D5 $ 6,02 $ 6,44 5,31% $ 184,50 Growth Rate for Church & Dwight D(2017) 0,76 D(2016) 0,71 Growth Rate 7,04% Growth Rate for AAPL D(2017) $ 2,28 D(2016) $ 2,22 Growth Rate 2,70% Growth Rate for IBM D(2017) 5,6 D(2016) 5,5 Growth Rate 1,82% First Year Dividend comes from sources such as Value Line, S&P, Dividend.com, and Yahoo Finance. Based on year end price for 2016 a required rate of return is calculated assuming the dividends grow at a constant rate. Based on that required return the forward prices are calculated. A geometric rate is calculated for growth rate(Yearly basis.) 2017 Prices are analyst predictions and forecasts for $ $ 2021 2,21 $ 7,52% 103,17 Growth Rate for IBM D(2017) 1,8 2022 D(2016) 1,71 2,33 Growth Rate 5,26% 2021 2022 D4 D5 $ 2,75 $ 2,91 8% $ 112,83 Growth Rate for IdaCorp., Inc. D(2017) 2,2 D(2016) 2,08 Growth Rate 5,77% 2021 2022 D4 D5 $ 1,59 $ 1,67 0,08 $ 76,92 Growth Rate for NTAP D(2017) $ 0,76 D(2016) $ 0,72 Growth Rate 5,56% m sources such as Value ahoo Finance. 16 a required rate of he dividends grow at a quired return the or growth rate(Yearly ions and forecasts for Optimal Weights TJ Maxx Foot Locker Illinois Tool Work Church & Dwight Apple NetApp East Group Properties IBM Atmos IdaCorp Total Portfolio Assets Total Portfolio Worth 6,39% 5,75% 11,00% 26,99% 2,59% 21,02% 18,18% 8,08% 100,00% $ 19.185.800,00 Portfolio Asset Allocations TJ Maxx Foot Locker Illinois Tool Work Church & Dwight Apple IBM Atmos IdaCorp Total $ $ $ $ $ $ $ $ $ 1.225.972,62 1.103.183,50 2.110.438,00 5.178.247,42 496.912,22 4.032.855,16 3.487.978,44 1.550.212,64 19.185.800,00 Stocks Retail Ticker TJ Maxx Foot Locker TJX FL Manufacturing Illinois Tool Works Church & Dwight ITW CHD Computer and Peripherals Apple Inc. IBM AAPL IBM Utilities Atmos IdaCorp Inc. Total portfolio allocation Total Paid for Investments Remainder Short Term Investments 1-year Synchrony Bank CDs 2-yeat Synchrony Bank CDs Money leftover from Stocks Money Market Investments 1-YR. CDs 2-YR. CDs Cash Optimal Weights TJ Maxx Foot Locker Illinois Tool Works Church & Dwight Apple IBM Atmos Inc. IdaCorp Total Company Free Cash Flow Total Portfolio Allocation Portfolio Asset Allocations TJ Maxx Foot Locker Illinois Tool Works Church & Dwight Apple ATO IDA $ $ $ 6,39% 5,75% 11,00% 26,99% 2,59% 21,02% 18,18% 8,08% 100,00% 95929000 19185800 1225972,62 1103183,5 2110438 5178247,42 496912,22 19.185.800,00 18.557.721,11 628.078,89 IBM Atmos Inc. IdaCorp Total 4032855,16 3487978,44 1550212,64 19185800 Price Paid Allocations Shares $ $ 78,56 $ 75,84 $ 1.225.972,62 1.103.183,50 15605,56 14546,20 $ $ 134,87 $ 44,16 $ 2.110.438,00 5.178.247,42 15647,94 117261,04 $ $ 142,27 $ 160,38 $ 496.912,22 4.032.855,16 3492,74 25145,62 $ $ 79,83 $ 85,24 $ 3.487.978,44 1.550.212,64 43692,58 18186,45 $ $ $ $ $ 1,25% 1,60% 628.078,89 314.039,45 235.529,58 78.509,86 314.039,45 Share Purchased Total Paid 2017 15605 $ 14546 $ 1.225.928,80 $ 1.103.168,64 $ 1.473.472,12 1.243.271,06 15647 $ 103049 $ 2.110.310,89 $ 4.550.643,84 $ 2.286.099,79 4.871.111,72 3492 $ 25145 $ 496.806,84 $ 4.032.755,10 $ 597.123,61 4.106.077,92 43692 $ 18186 $ 3.487.932,36 $ 1.550.174,64 $ 3.671.507,75 1.639.607,79 2018 2019 2020 $ $ 1.771.000,14 $ 1.401.166,48 $ 2.128.605,94 $ 1.579.114,62 $ 2.558.420,60 1.779.662,18 $ $ 2.476.531,90 $ 5.214.147,75 $ 2.682.827,01 $ 5.581.341,26 $ 2.906.306,50 5.974.393,46 $ $ 717.696,64 $ 4.180.733,88 $ 862.616,16 $ 4.256.747,23 $ 1.036.798,26 4.334.142,63 $ $ 3.864.745,00 $ 1.734.200,55 $ 4.068.152,63 $ 1.834.250,58 $ 4.282.265,92 1.940.072,73 2021 Profit or (Loss) $ $ 3.075.024,75 $ 2.005.679,28 $ 1.849.095,95 902.510,64 $ $ 3.148.401,83 $ 6.394.990,76 $ 1.038.090,94 1.844.346,92 $ $ 1.064.819,84 $ 4.639.266,27 $ 568.013,00 606.511,17 $ $ 4.507.648,34 $ 2.052.000,00 $ 1.019.715,98 501.825,36 Cumulative Profit (Loss) $ 8.330.109,96
Studypool has helped 1,244,100 students
flag Report DMCA
Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors