I must create a pro-forma income statement forecasting 2017, 2018, and 2019 numbers for JcPenny in the following format

ForIncome Statement

Sales

COGS

Gross Profit

G&A

Depreciation

EBIT

Interest Expense

EBT

Income Tax

Net Income

Fiscal year is FebruaryJanuary. All values USD millions. 2012 2013 2014 2015 2016 Sales/Revenue Cost of Goods Sold (COGS) incl. D&A 17260 12990 11860 12260 12630 11560 9460 8970 8630 8690 COGS excluding D&A 11040 8920 8370 8000 8070 518 543 601 631 616 Depreciation 0 0 0 0 0 Amortization of Intangibles 0 0 0 0 0 5700 2012 5230 3520 2013 4860 2890 2014 4250 3630 2015 3950 3940 2016 3940 0 0 0 0 0 5230 4860 4250 3950 3940 7 4 Unusual Expense 509 384 356 151 164 EBIT after Unusual Expense -46 -1728 -1716 -151 -158 1 403 176 125 8 1 5 38 11 6 53 41 Interest Expense 221 231 352 406 395 Gross Interest Expense 221 231 352 406 395 -229 -77 -1540 -551 -1890 -498 -694 23 -504 9 16 79 -8 8 6 60 -95 -16 12 5 -23 -70 -46 -6 -1 Income Tax - Deferred Foreign -130 -465 -428 9 -1 Consolidated Net Income -152 -985 -1390 -717 -513 Depreciation & Amortization Expense Gross Income SG&A Expense Research & Development Other SG&A Other Operating Expense Non Operating Income/Expense Non-Operating Interest Income Equity in Affiliates (Pretax) Pretax Income Income Tax Income Tax - Current Domestic Income Tax - Current Foreign Income Tax - Deferred Domestic -8 Net Income Net Income After Extraordinaries Net Income Available to Common EPS (Basic) Basic Shares Outstanding EPS (Diluted) Diluted Shares Outstanding EBITDA -152 -985 -1390 -717 -513 -152 -985 -1390 -717 -513 -152 -985 -1390 -717 -513 -0.7 -4.49 -5.57 -2.35 -1.68 217.4 219.2 249.3 305.2 305.9 -0.7 -4.49 -5.57 -2.35 -1.68 217.4 219.2 249.3 305.2 305.9 981 -797 -759 316 622 Step 2: Represent the data in percentage terms on Sales, to get the common size statement Fiscal year is FebruaryJanuary. All values USD millions. 2012 2013 2014 2015 2016 17260 12990 11860 12260 12630 67% 73% 76% 70% 69% 64% 69% 71% 65% 64% 3% 4% 5% 5% 5% Depreciation 0 0 0 0 0 Amortization of Intangibles 0 0 0 0 0 33% 2012 30% 27% 2013 37% 24% 2014 36% 30% 2015 32% 31% 2016 31% 0 0 0 0 0 30% 37% 36% 32% 31% 0.04% 0.03% 0.00% 3% 3% 3% Sales/Revenue Cost of Goods Sold (COGS) incl. D&A COGS excluding D&A Depreciation & Amortization Expense Gross Income SG&A Expense Research & Development Other SG&A Other Operating Expense Unusual Expense EBIT after Unusual Expense Non Operating Income/Expense Non-Operating Interest Income -0.30% 0.00% -0.06% 1% 1% -13.30% -14.50% -1.20% -1.30% 0.00% 3.10% 1.50% 1.00% 0.10% 0.01% 0.04% 0.00% 0.00% 0.00% Equity in Affiliates (Pretax) 38 11 6 53 41 Interest Expense 1.30% 1.80% 3.00% 3.30% 3.10% Gross Interest Expense 1.30% 1.80% 3.00% 3.30% 3.10% Pretax Income Income Tax Income Tax - Current Domestic Income Tax - Current Foreign Income Tax - Deferred Domestic Income Tax - Deferred Foreign -1.30% -77 -11.90% -15.90% -5.70% -4.00% -551 -498 23 9 16 79 -8 8 6 60 -95 -16 12 5 -23 -70 -46 -6 -1 -130 -465 -428 9 -1 Consolidated Net Income -0.90% -7.60% -11.70% -5.80% -4.10% Net Income Net Income After Extraordinaries Net Income Available to Common EPS (Basic) -0.90% -7.60% -11.70% -5.80% -4.10% -0.90% -7.60% -11.70% -5.80% -4.10% -0.90% -7.60% -11.70% -5.80% -4.10% Basic Shares Outstanding EPS (Diluted) Diluted Shares Outstanding EBITDA -0.7 -4.49 -5.57 -2.35 -1.68 217.4 219.2 249.3 305.2 305.9 -0.7 -4.49 -5.57 -2.35 -1.68 217.4 219.2 249.3 305.2 305.9 -6.10% -6.40% 2.60% 4.90% 5.70% 2006 19, 903 2007 19,860 2008 18,486 2009 17,556 2010 2011 17,759 17, 260 2012 12,985 2013 12,990 2014 11,860 2015 12,260 2016 12,630 %age Revenu Average (Cost/Sa ### ### ### Total e (Total/3) les x Sales 100) Quantit 12630 12260 11860 36750 12250 S $ y ales $ $ $ $ price 999.60 999.76 999.92 999.76 Total $ per unit 999.76 Revenu ### ### ### ### 12,247, 100% Cost of $ e 000.00 Revenu ### ### ### ### 8,145,6 66.51% $ e 66.67 Gross Selling ### ### ### ### 4,101,3 33.49% Profit General $ 33.33 and ### ### ### ### 3,885,0 31.72% $ Non $ Adminis 00.00 Recurrin 84,000 87,000 215,000 386,000 1.05% trative $ 128,666 $ g .00 .67 Total Others 616,000 631,000 601,000 1,848,0 5.03% 616,000 Operati $ 00.00 .00 ng ### ### ### ### 4,629,6 37.80% Operati $ Expens 66.67 ng -89,000 ### ### ### (528,33 -4.31% es Income 3.33) Income or Loss from Continuing Total $ Operations Other $ Earning Income/ -10,000 -34,000 ### (158,00 -0.43% (52,666. s Before $ Expens 0.00) 67) Interest -99,000 ### ### ### (581,00 -4.74% es Net $ Interest $ and 0.00) Expens 405,000 406,000 352,000 1,163,0 3.17% Taxes 387,666 Income $ e 00.00 .67 Before ### ### ### ### (968,66 -7.91% Income $ $ Tax 6.67) Tax Net 9,000 23,000 ### (398,00 (132,66 -1.08% Expens Income $ 0.00) 6.67) e From ### ### ### ### (888,66 -7.26% Net $ Continui 6.67) Net Income ### ### ### ### (836,00 -6.83% ng Ops Income Applica $ 0.00) ble To ### ### ### ### (836,00 -6.83% Commo 0.00) n Shares Period ### ### ### Total Average %age Ending Current Cash $ Assets And $ Cash 119,000 119,000 113,000 351,000 0.96% Short 117,000 $ $ Equival .00 Term .00 781,000 ### ### 3,382,0 1,127,3 9.20% ents $ Investm Net $ 00.00 33.33 ents Receiva 231,000 172,000 193,000 596,000 1.62% 198,666 bles .00 .67 $ $ Inventor ### ### ### 8,308,0 2,769,3 22.61% $ y Other $ 00.00 33.33 Current 166,000 189,000 190,000 545,000 1.48% 181,666 Total $ Assets .00 .67 Current ### ### ### ### 4,394,0 35.88% Long Assets 00.00 Term Property Investm Plant $ ents and ### ### ### ### 5,194,3 42.41% $ $ Equipm 33.33 Other 608,000 830,000 ### 2,787,0 7.59% ent Assets 929,000 $ 00.00 Total .00 ### ### ### ### 10,517, 85.88% Assets Current $ $ 333.33 Liabilitie Account $ $ s - - Short/C s ### ### ### 6,531,0 2,177,0 17.78% $ urrent $ Payable 00.00 00.00 Long 127,000 56,000 700,000 883,000 2.40% Other 294,333 Term .00 Current .33 Debt Total Liabilitie $ $ Current s ### ### ### 7,414,0 2,471,3 20.18% Liabilitie Long $ 00.00 33.33 s Term ### ### ### ### 4,948,0 40.40% $ Other $ Debt 00.00 Deferre Liabilitie 618,000 611,000 632,000 1,861,0 5.07% $ 620,333 d $ s Long 00.00 .33 Term 425,000 363,000 335,000 1,123,0 3.06% 374,333 Total $ Liability 00.00 .33 Liabilitie ### ### ### ### 8,414,0 68.70% Charges $ $ s 00.00 Commo 153,000 152,000 152,000 457,000 1.24% Retaine n Stock 152,333 $ .00 d .33 ### ### ### ### (2,169,6 -17.72% Earning 66.67) Treasury s Stock $ Capital ### ### ### ### 4,610,3 37.64% Other Surplus $ 33.33 Stockho ### ### ### ### (489,66 -4.00% Total lder $ $ 6.67) Stockho Equity ### ### ### 6,310,0 2,103,3 17.17% lder Net $ $ 00.00 33.33 Equity Tangible ### ### ### 6,310,0 2,103,3 17.17% Assets 00.00 33.33 10 year Sales Year Budgete d units Revenu e Cost of Revenu e Gross Selling Profit General and Non Adminis Recurrin trative g Total Others Operati ng Operati Expens ng Total es Income Other or Loss Earning Income/ s Before Expens Interest es Net Interest and Expens Taxes Income e Before Income Tax Tax Net Expens Income e From Net Continui Net Income ng Ops Income Applica ble To Commo n Shares 2016 2015 2014 2013 2012 2011 2010 2009 12,630. 12,260. 11,860. 17,260. 17,759. 17,556. 12,990. $ $ 00 00 00 12,985. 00 00 00 00 100% ### ### ### 12,986, 00 ### ### ### $ 12,981, $ $ $ $ 818.78 820.00 66.51% 8,398,3 8,152,3 7,886,3 8,637,7 ### ### ### $ 8,634,4 $ $ $ $ $ $ $ 48.57 16.19 35.24 31.43 06.67 33.49% 4,228,5 4,104,6 3,970,7 4,349,0 5,778,6 5,945,7 5,877,7 $ 4,347,4 $ $ $ $ $ $ $ 58.37 81.36 60.27 87.35 94.97 61.52 96.57 13.33 31.72% 4,005,5 3,888,1 3,761,3 4,119,6 $ 5,473,8 5,632,1 5,567,7 $ 4,118,1 $ $ $ $ $ $ 14.29 71.43 14.29 85.71 85.71 40.00 60.00 00.00 $ 1.05% 132,657 128,771 124,570 181,288 186,529 184,397 $ 136,439 $ $ $ $ $ .96 .70 .34 136,386 $ .71 .90 .71 .18 5.03% 635,108 616,502 596,388 .67 867,931 893,024 882,816 653,211 $ $ $ $ $ 652,960 $ $ $ .57 .86 .57 .43 .00 .00 .43 37.80% 4,773,2 4,633,4 4,482,2 4,909,3 .00 6,523,1 6,711,6 6,634,9 $ 4,907,4 $ $ $ $ $ $ $ 80.82 45.99 73.20 36.33 05.85 93.90 73.71 46.67 -4.31% (544,72 (528,76 (511,51 (560,24 $ (744,41 (765,93 (757,17 $ (560,03 $ $ $ $ $ $ 2.45) 4.63) 2.93) 8.98) 0.88) 2.38) 7.14) 3.33) -0.43% (54,300. (52,709. (50,989. (74,206. (76,351. (75,478. (55,848. $ $ $ $ $ (55,826. $ $ $ 41) 66) 93) 26) 62) 86) 16) -4.74% (599,02 (581,47 (562,50 (616,09 $ (818,61 (842,28 (832,65 67) $ (615,86 $ $ $ $ $ $ 2.86) 4.29) 2.86) 7.14) 7.14) 4.00) 6.00) 0.00) 3.17% 399,692 387,983 375,324 546,214 562,005 555,581 411,084 $ $ $ $ $ .24 .13 .63 410,926 .42 .90 .71 .90 -7.91% (998,71 (969,45 (937,82 (1,027,1 .67 ### ### ### $ (1,026,7 $ $ $ $ $ $ $ 5.10) 7.41) 7.48) 82.04) 86.67) -1.08% (136,78 (132,77 (128,44 (140,68 (186,92 (192,32 (190,13 $ (140,62 $ $ $ $ 2.04) 4.97) 2.99) 0.82) 4.63) 8.76) 0.29) 6.67) -7.26% (916,23 (889,39 (860,37 (942,34 ### ### ### $ (941,98 $ $ $ $ 3.47) 2.11) 4.42) 9.39) 6.67) -6.83% (861,93 (836,68 (809,38 (886,50 ### ### ### $ (886,16 $ $ $ $ 3.06) 2.45) 4.49) 1.22) 0.00) -6.83% (861,93 (836,68 (809,38 (886,50 ### ### ### (886,16 3.06) 2.45) 4.49) 1.22) 0.00) %age Period %age ### ### ### ### ### ### ### ### Ending Current Cash $ $ Assets And $ $ $ $ $ $ Cash 0.96% 120,629 117,095 113,275 164,850 169,616 167,677 Short 124,067 $ $ $ $ $ 124,020 $ $ $ Equival .39 .51 .10 .61 .57 .71 Term .76 9.20% 1,162,3 1,128,2 1,091,4 1,195,4 $ 1,588,3 1,634,3 1,615,6 ents .00 $ 1,194,9 Investm Net $ $ $ $ $ $ 03.67 53.61 42.72 33.47 89.66 11.24 29.71 ents 73.33 Receiva 1.62% 204,829 198,828 192,341 279,917 288,009 284,717 210,667 $ $ $ $ $ 210,586 $ $ $ bles .39 .84 .77 .28 .90 .71 Inventor .76 22.61% 2,855,2 2,771,5 2,681,1 2,936,6 .67 3,901,9 4,014,7 3,968,8 y 2,935,4 39.18 94.01 66.80 23.67 34.15 42.10 50.29 93.33 $ $ Other $ $ $ $ $ $ Current 1.48% 187,302 181,814 175,882 255,964 263,364 260,354 192,640 $ Total $ $ $ $ 192,566 $ $ $ Assets .04 .97 .99 .63 .76 .29 .82 Current 35.88% 4,530,3 4,397,5 4,254,1 4,659,4 .67 6,191,0 6,370,0 6,297,2 Long 4,657,6 Assets 03.67 86.94 09.39 33.47 56.33 44.57 29.71 Term 40.00 Property $ Investm Plant $ $ $ $ $ $ $ ents and 42.41% 5,355,4 5,198,5 5,028,9 5,508,1 $ 7,318,7 7,530,2 7,444,2 $ 5,505,9 $ $ $ $ $ $ Equipm 63.67 73.61 62.72 13.47 09.66 99.24 21.71 Other 93.33 7.59% 957,817 929,758 899,423 1,308,9 1,346,7 1,331,3 ent Assets 985,119 $ $ .96 .37 .67 984,740 42.04 84.57 89.71 Total .18 85.88% ### ### ### 11,152, .00 ### ### ### Assets 11,148, Current 666.12 373.33 Liabilitie $ Account $ $ $ $ $ $ $ s Short/C s 17.78% 2,244,5 2,178,7 2,107,6 2,308,5 $ 3,067,3 3,156,0 3,119,9 $ 2,307,6 urrent $ $ $ $ $ $ Payable 31.43 77.14 91.43 08.57 48.57 28.00 52.00 20.00 Long 2.40% 303,463 294,573 284,962 414,709 426,699 421,821 Other 312,113 Term .67 .61 .72 311,993 .66 .24 .71 Current .47 Debt .33 Total $ Liabilitie $ $ $ $ $ $ $ Current s 20.18% 2,547,9 2,473,3 2,392,6 2,620,6 3,482,0 3,582,7 3,541,7 $ Liabilitie 2,619,6 Long $ $ $ $ $ $ $ 95.10 50.75 54.15 22.04 58.23 27.24 73.71 s 13.33 Term 40.40% 5,101,4 4,952,0 4,790,4 5,246,8 $ 6,971,6 7,173,1 7,091,1 $ 5,244,8 Other $ $ $ $ $ $ Debt 88.98 39.18 71.84 99.59 31.02 86.29 90.86 80.00 Deferre $ Liabilitie 5.07% 639,576 620,839 600,583 874,037 899,306 889,026 $ 657,806 d $ $ $ $ $ s Long .33 .73 .95 657,553 $ .01 .10 .29 .53 Term 3.06% 385,945 374,638 362,415 .33 527,428 542,676 536,473 396,946 $ Total $ $ $ $ 396,793 .03 Liability .31 .91 .78 .38 .14 .12 Liabilitie 68.70% 8,675,0 8,420,8 8,146,1 8,922,2 ### ### ### Charges .33 8,918,8 Stockho s 05.71 68.57 25.71 74.29 40.00 $ lders' $ $ $ $ $ $ $ Equity Commo 1.24% 157,058 152,457 147,483 214,634 220,839 218,315 Retaine n Stock 161,535 $ $ .78 .69 .54 161,473 .56 .81 .43 d .51 -17.72% ### ### ### (2,300,7 .33 ### ### ### Earning (2,299,8 32.24) Treasury s 46.67) $ Stock $ $ $ $ $ $ $ Capital 37.64% 4,753,3 4,614,0 4,463,5 4,888,8 6,495,8 6,683,6 6,607,2 Other $ Surplus 4,886,9 $ $ $ $ $ $ $ 47.76 96.87 55.37 35.10 65.58 66.10 66.29 Stockho 53.33 -4.00% (504,85 (490,06 (474,07 (519,24 (689,93 (709,87 (701,76 lders $ lder (519,04 $ 6.33) 6.39) 7.28) 6.53) 0.34) 6.76) 2.29) Equity 6.67) ### ### ### 11,152, ### ### ### and 11,148, 666.12 liabilitie 373.33 s Comment 2008 2007 2006 18,486. 19,860. 19,903. 00 00 00 ### ### ### ### ### ### $ $ $ 6,189,1 6,649,1 6,663,5 $ $ $ 63.10 82.04 78.56 5,862,7 6,298,4 6,312,0 $ $ $ 02.86 57.14 94.29 194,165 208,597 209,049 $ $ $ .88 .55 .20 929,581 998,674 1,000,8 $ $ $ .71 .29 36.57 6,986,4 7,505,7 7,521,9 $ $ $ 50.45 28.98 80.05 (797,28 (856,54 (858,40 $ $ $ 7.35) 6.94) 1.50) (79,477. (85,384. (85,569. $ $ $ 22) 49) 36) (876,76 (941,93 (943,97 $ $ $ 4.57) 1.43) 0.86) 585,012 628,494 629,855 .73 .69 .48 ### ### ### $ $ $ (200,20 (215,08 (215,54 2.12) 2.45) 8.14) ### ### ### ### ### ### ### ### ### ### ### ### $ $ $ 176,560 189,683 190,093 $ $ $ .16 .27 .96 1,701,2 1,827,6 1,831,6 $ $ $ 15.02 60.41 17.58 299,800 322,083 322,780 $ $ $ .16 .27 .63 4,179,0 4,489,7 4,499,4 93.55 11.02 31.95 $ $ $ 274,146 294,522 295,160 $ $ $ .12 .45 .14 6,630,8 7,123,6 7,139,0 15.02 60.41 84.24 $ $ $ 7,838,5 8,421,1 8,439,4 $ $ $ 67.02 80.41 13.58 1,401,9 1,506,1 1,509,3 17.88 17.55 78.53 ### ### ### $ $ $ 3,285,2 3,529,4 3,537,0 $ $ $ 26.29 05.71 47.43 444,167 477,180 478,213 .02 .41 .58 $ $ $ 3,729,3 4,006,5 4,015,2 $ $ $ 93.31 86.12 61.01 7,466,8 8,021,8 8,039,1 $ $ $ 34.94 18.78 87.27 936,120 1,005,6 1,007,8 $ $ $ .98 99.59 77.09 564,891 606,878 608,192 .92 .37 .35 ### ### ### $ $ $ 229,880 246,966 247,501 .33 .53 .25 ### ### ### $ $ $ 6,957,2 7,474,3 7,490,5 $ $ $ 75.27 85.31 68.52 (738,93 (793,85 (795,57 6.98) 9.59) 8.42) ### ### ### Assets Fiscal year is FebruaryJanuary. All values USD millions. 2012 Cash & Short Term Investments 2013 2014 2015 1.51B 930M 1.52B 1.32B Cash Only 175M 121M 113M 1.32B Short-Term Investments 1.33B 809M 1.4B - Total Accounts Receivable 413M 57M 4M - Inventories 2.92B 2.34B 2.94B 2.65B 2.92B 2.34B 2.94B 2.65B - - - - 245M 355M 379M 361M 245M 355M 379M 361M 5.08B 3.68B 4.83B 4.33B Finished Goods Raw Materials Other Current Assets Miscellaneous Current Assets Total Current Assets 2012 Net Property, Plant & Equipment Property, Plant & Equipment - Gross Buildings Land & Improvemen Other ts Property, Plant & Equipment Accumulated Depreciation Total Investments and Advances Other Long-Term Investments Intangible Assets Net Other Intangibles Other Assets Tangible Other Assets Total Assets 2013 2014 2015 5.18B 5.35B 5.62B 5.15B 8.14B 8.23B 8.93B 8.77B 4.55B 4.64B 4.95B 4.9B 312M 310M 309M 274M 3.28B 3.28B 3.67B 3.48B 2.97B 2.88B 3.32B 3.62B 500M 69M - 26M 464M 33M - 26M 565M 587M 535M 498M 565M 587M 535M 498M 102M 89M 814M 306M 80M 69M 59M 37M 11.42B 9.78B 11.8B 10.31B Liabilities & Shareholders' Equity 2012 ST Debt & Current Portion LT Debt 2013 231M 2014 26M 2015 700M 56M Short Term Debt - - 650M - 231M 26M 50M 56M 1.02B 1.16B 948M 997M - - - 5M 1.5B 1.4B 1.2B 1.1B 43M - - - Accrued Payroll 427M 338M 314M 229M Miscellaneous Current Liabilities 1.03B 1.06B 884M 869M Total Current Liabilites 2.76B 2.58B 2.85B 2.16B Long-Term Debt 2.87B 2.96B 4.9B 5.27B 2.87B 2.87B 4.84B 5.23B 2.87B 2.87B 4.84B 5.23B - - - - Capitalized Lease Obligations 4M 88M 62M 38M Provision for Risks & Charges 491M 347M 255M 193M Deferred Taxes 888M 388M 335M 363M 888M 388M 335M 363M 408M 336M 377M 418M Other Liabilities (excl. Deferred Income) 273M 208M 261M 226M Deferred Income 135M 128M 116M 192M 7.41B 6.61B 8.71B 8.4B - - - - 4.01B 3.17B 3.09B 1.91B 108M 110M 152M 152M 1.41B 380M (1.01B) (2.49B) - - - (2M) 165M 17M - - - - - - 4.01B 3.17B 3.09B 1.91B Current Portion of Long Term Debt Accounts Payable Income Tax Payable Other Current Liabilities Dividends Payable Long-Term Debt excl. Capitalized LeasesNonConvertible Debt Convertible Debt Deferred Taxes Credit Other Liabilities Total Liabilites Non-Redeemable Preferred Stock Common Equity (Total) Common Stock Par/Carry Value Retained Earnings Cumulative Translation Adjustment/Unreal Unrealized ized For. Exch. Gain/Loss Gain Marketable Securities Revaluation Reserves Total Shareholders' Equity Total Equity Liabilities & Shareholders' Equity 4.01B 3.17B 3.09B 1.91B 11.42B 9.78B 11.8B 10.31B 5-year trend 2016 900M 900M 2.72B 2.72B 397M 397M 4.02B 2016 5-year trend 4.82B 8.57B 4.88B 272M 3.31B 3.76B 31M 31M 500M 500M 77M 35M 9.44B 2016 127M 5-year trend 127M 925M 3M 1.36B 372M 985M 2.41B 4.68B 4.67B 4.67B 10M 182M 425M 425M 436M 232M 204M 8.13B 1.31B 153M (3.01B) (2M) 1.31B 1.31B 9.44B Operating Activities Fiscal year is February-January. All values USD millions. Net Income before Extraordinaries 2012 2013 2014 2015 5-year trend 2016 (152M) (985M) (1.39B) (717M) (513M) Depreciation, Depletion & Amortization 518M 543M 601M 631M 616M Deferred Taxes & Investment Tax Credit (153M) (467M) (164M) 3M - (153M) (467M) (164M) 3M - - - - - - Other Funds 466M 151M (78M) (57M) 198M Funds from Operations 679M (758M) (1.03B) (140M) 301M - - - - - 141M 748M (785M) 379M 139M - - - - - (111M) 140M (214M) 49M (72M) (67M) (5M) 74M (1M) 19M 820M (10M) (1.81B) 239M 440M Deferred Taxes Investment Tax Credit Extraordinaries Changes in Working Capital Receivables Accounts Payable Other Assets/Liabilities Net Operatng Cash Flow Investing Activities 2012 Capital Expenditures 2013 2014 2015 5-year trend 2016 (634M) (810M) (951M) (252M) (320M) (634M) (810M) (951M) (252M) (320M) (268M) (9M) - - - Sale of Fixed Assets & Businesses 15M - 19M 105M 24M Purchase/Sale of Investments 17M - - 5M - (36M) - - - - 53M - - 5M - Capital Expenditures (Fixed Assets) Net Assets from Acquisitions Purchase of Investments Sale/Maturity of Investments Other Uses - - - - - Other Sources - 526M 143M - - (870M) (293M) (789M) (142M) (296M) 2012 2013 2014 2015 2016 Net Investng Cash Flow Financing Activities Cash Dividends Paid - Total 5-year trend (178M) (86M) - - - Common Dividends (178M) (86M) - - - Preferred Dividends - - - - - (832M) 71M 793M - - (900M) - - - - 68M 71M 793M - - Proceeds from Stock Options - - 786M - - Other Proceeds from Sale of Stock 68M 71M 7M - - (20M) (254M) 2.4B (260M) (557M) - - 650M (650M) - (20M) (254M) 1.75B 390M (557M) (20M) (4M) 2.15B 828M (4M) - (250M) (395M) (438M) (553M) (35M) (5M) (9M) (34M) (5M) (45M) (17M) (9M) (34M) (5M) 10M 12M - - - (1.07B) (274M) 3.19B (294M) (562M) Exchange Rate Effect - - - - - Miscellaneous Funds - - - - - Change in Capital Stock Repurchase of Common & Preferred Stk. Sale of Common & Preferred Stock Issuance/Reduction of Debt, Net Change in Current Debt Change in Long-Term Debt Issuance of Long-Term Debt Reduction in Long-Term Debt Other Funds Other Uses Other Sources Net Financing Cash Flow Net Change in Cash Free Cash Flow (1.12B) (577M) 585M (197M) (418M) 186M (820M) (2.77B) (13M) 120M Fiscal year is FebruaryJanuary. All values USD millions. 2012 2013 Net Income before Extraordinaries (152M) 2014 2015 5-year trend 2016 (985M) (1.39B) (717M) (513M) 518M 543M 601M 631M 616M (153M) (467M) (164M) 3M - (153M) (467M) (164M) 3M - - - - - - Other Funds 466M 151M (78M) (57M) 198M Funds from Operations 679M (758M) (1.03B) (140M) 301M - - - - - 141M 748M (785M) 379M 139M - - - - - (111M) 140M (214M) 49M (72M) Other Assets/Liabili ties (67M) (5M) 74M (1M) 19M Net Operatng Cash Flow 820M (10M) (1.81B) 239M 440M Depreciation, Depletion & Amortization Deferred Taxes & Investment Tax Credit Deferred Taxes Investment Tax Credit Extraordinaries Changes in Working Capital Receivables Accounts Payable Investing Activities 2012 Capital Expenditures 2013 2014 2015 5-year trend 2016 (634M) (810M) (951M) (252M) (320M) (634M) (810M) (951M) (252M) (320M) - - - - - (268M) (9M) - - - Sale of Fixed Assets & Businesses 15M - 19M 105M 24M Purchase/Sale of Investments 17M - - 5M - (36M) - - - - 53M - - 5M - Capital Expenditures (Fixed Capital Assets) Expenditures (Other Assets) Net Assets from Acquisitions Purchase of Investments Sale/Maturity of Investments Other Uses - - - - - Other Sources - 526M 143M - - (870M) (293M) (789M) (142M) (296M) 2013 2014 2015 2016 Net Investng Cash Flow Financing Activities 2012 5-year trend Cash Dividends Paid Total (178M) (86M) - - - Common Dividends (178M) (86M) - - - Preferred Dividends - - - - - (832M) 71M 793M - - (900M) - - - - 68M 71M 793M - - - - 786M - - 68M 71M 7M - - (20M) (254M) 2.4B (260M) (557M) - - 650M (650M) - (20M) (254M) 1.75B 390M (557M) (20M) (4M) 2.15B 828M (4M) - (250M) (395M) (438M) (553M) (35M) (5M) (9M) (34M) (5M) (45M) (17M) (9M) (34M) (5M) 10M 12M - - - (1.07B) (274M) 3.19B (294M) (562M) Exchange Rate Effect - - - - - Miscellaneous Funds - - - - - Change in Capital Stock Repurchase of Common & Preferred Sale of Stk. Common & Preferred Stock Procee ds from Stock Other Options Procee ds from Sale of Stock Issuance/Reduction of Debt, Net Change in Current Debt Change in Long-Term Debt Issuanc e of LongReducti Term on in Debt LongTerm Debt Other Funds Other Uses Other Sources Net Financing Cash Flow Net Change in Cash Free Cash Flow (1.12B) (577M) 585M (197M) (418M) 186M (820M) (2.77B) (13M) 120M