2018 10pt Calculate Free Cash Flow USE 34% INC.TAX RATE EBIT EBIT X(1 - 34 tax rate) Income Statement Sales/Revenue COGS excluding D&A Gross Profit Depreciation & Amort Expense SG&A Expense EBIT Interest Expense Pretax Income Income Tax Consolidated Net Income Stock Price Basic Shares Outstanding 2018 2017 20,204 18,906 12,176 11,944 8,028 6,962 991 938 5,501 4,435 1,536 1,589 380 375 1,156 1,214 399 419 757 795 $ 71.38 $ 40.12 167 178 Free Cash Flow