a.

Net Operating Assets

Net Financial Obligations

Shareholder's Equity

ii

2007
12,045.20

2007
-6,113.70

2007
18,158.90

Change in net operating assets

1,176.20

FCF

1,563.90

iii

b.

c.
1
2

Net Operating Asset

Net Operating Asset

d.
Comprehensive Income
Net Payment

d.

$
$

2,593.00
-572.30

2006
$ 10,869.00

2006
$ -4,124.60
2006
$ 14,993.60

$
$

1,176.20
1,176.20

Operating Assets
Operating Liabilities
Financial Assets
Financial Obligations

$
$
$
$

2007
18,057.00
6,011.80
382.70
6,496.40

Operating Income
Net Financial Expense

$
$

2,740.10
147.10

$
$
$
$

2006
16,796.20
5,927.20
270.80
4,395.40

a.

b.

Balance, 31/2011
Net Income

2,400.00
1,083.00

Beginning book value of common equity

+ Net effect of transaction with common shareholders
+ Share issues
Share repurchases
Dividends
+ effect of operations and non-equity financing
+ Net income
+ Other comprehensive income
Preferred dividends
Closing book value of common equity

2,400.00

Comprehensive Income

1,057.00

155
-132
1,083.00
4
-30
3,480.00

Balance, December 31, 2011

Net Income
Common Dividends
Preferred Dividends
Issue of common stock
Unrealized gain on securities held for sale
Foreign currency translation loss
Balance, December 31, 2012

?
?
-132
-30
155
13
-9
3,480.00

Equity (Mkt Value) Dec 31, 11 (million)

Equity (Mkt Value) Dec 31, 12 (million)
Premium

4,500.00
5,580.00
2,100.00