Cash flow Agricultural Bank of China Limited

Equities

1288

CNE100000Q43

Banks

Market Closed - Hong Kong S.E. Other stock markets 04:08:35 2025-07-18 EDT			5-day change	1st Jan Change
5.350 ^HKD	-0.56%		-3.08%	+20.77%

07-03	Huadian Power International Issues 1 Billion Yuan Medium-Term Bonds	MT
06-27	Agricultural Bank of China Limited Approves Election of Ms. Wong Pui Sze Priscilla as an Independent Non-Executive Director	CI

45ef31c55e5199.TVlJ3IQGx7dQ1yY6JNgU9u2ZvhRdIfgWChnl82FC8mE.AAhxtMNt8dMI4k4OfbVapYPp5kAKQ5FyaS2nwA03y1EMFSCktzOR0DOQdw

Published financial data: AGRICULTURAL BANK OF CHINA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	931B	1,008B	1,109B	1,224B	1,276B
Interest Income, Total	931B	1,008B	1,109B	1,224B	1,276B
Interest On Deposits	386B	430B	519B	652B	695B
Interest Expense, Total	386B	430B	519B	652B	695B
Net Interest Income	545B	578B	590B	572B	581B
Income From Trading Activities	16.4B	14.24B	5.52B	23.12B	-
Gain (Loss) on Sale of Assets	1.17B	1.03B	900M	1.04B	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-7.31B	15.05B	6.07B	17.8B	11.72B
Income (Loss) on Equity Invest. (Income Block)	-	-	-	-	72M
Total Other Non Interest Income	104B	113B	123B	81.76B	118B
Non Interest Income, Total	114B	144B	136B	124B	130B
Revenues Before Provison For Loan Losses	659B	722B	725B	695B	711B
Provision For Loan Losses	165B	166B	145B	136B	131B
Total Revenues	495B	556B	580B	560B	580B
Salaries And Other Employee Benefits	123B	138B	147B	152B	160B
Occupancy Expense	19.55B	19.8B	20.86B	21.62B	22.87B
Selling General & Admin Expenses, Total	49.45B	61.56B	61.86B	62.05B	-
(Income) Loss on Equity Invest.	-518M	-409M	-66M	-189M	-
Total Other Non Interest Expense	37.75B	41.08B	44.81B	17.24B	76.6B
Non Operating (Income) Expenses	-	-	-	-	580M
Non Interest Expense, Total	230B	260B	274B	252B	261B
EBT, Excl. Unusual Items	265B	296B	306B	307B	319B
Restructuring Charges	-5M	-15M	-38M	-13M	-13M
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	265B	296B	306B	307B	319B
Income Tax Expense	48.65B	53.94B	47.53B	37.6B	36.53B
Earnings From Continuing Operations	216B	242B	259B	270B	283B
Net Income to Company	216B	242B	259B	270B	283B
Minority Interest	-475M	-753M	452M	-464M	-588M
Net Income - (IS)	216B	241B	259B	269B	282B
Preferred Dividend and Other Adjustments	9.53B	13.8B	17.24B	16.06B	19.28B
Net Income to Common Incl Extra Items	206B	227B	242B	253B	263B
Net Income to Common Excl. Extra Items	206B	227B	242B	253B	263B
Per Share Items
Net EPS - Basic	0.59	0.65	0.69	0.72	0.75
Basic EPS - Continuing Operations	0.59	0.65	0.69	0.72	0.75
Basic Weighted Average Shares Outstanding	350B	350B	350B	350B	350B
Net EPS - Diluted	0.59	0.65	0.69	0.72	0.75
Diluted EPS - Continuing Operations	0.59	0.65	0.69	0.72	0.75
Diluted Weighted Average Shares Outstanding	350B	350B	350B	350B	350B
Normalized Basic EPS	0.47	0.53	0.55	0.55	0.57
Normalized Diluted EPS	0.47	0.53	0.55	0.55	0.57
Dividend Per Share	0.19	0.21	0.22	0.23	0.24
Payout Ratio	33.9	32.58	33.83	35.55	35.53
American Depositary Receipts Ratio (ADR)	25	25	25	25	25
Supplemental Items
Effective Tax Rate - (Ratio)	18.36	18.23	15.52	12.23	11.44
Total Current Taxes	58.86B	66.04B	55.39B	49.62B	35.92B
Total Deferred Taxes	-10.21B	-12.1B	-7.87B	-12.02B	606M
Normalized Net Income	165B	184B	192B	192B	199B
Non-Cash Pension Expense	5M	15M	38M	13M	13M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	361B	190B	555B	709B	493B
Investment Securities, Total	9,338B	9,725B	11,510B	14,266B	15,541B
Trading Asset Securities, Total	286B	181B	187B	223B	242B
Total investments	9,624B	9,907B	11,697B	14,489B	15,784B
Gross Loans	15,136B	17,136B	19,723B	22,564B	25,201B
Allowance For Loan Losses	-618B	-721B	-783B	-883B	-931B
Net Loans	14,518B	16,415B	18,940B	21,681B	24,270B
Gross Property Plant And Equipment	291B	300B	309B	323B	331B
Accumulated Depreciation	-130B	-136B	-145B	-155B	-165B
Net Property Plant And Equipment	161B	163B	163B	168B	166B
Goodwill	1.38B	1.38B	1.38B	1.38B	1.38B
Other Intangibles, Total	23.49B	26.57B	27.87B	26.8B	29.1B
Investment in Real Estate	2.53B	2.02B	2.19B	2.21B	2.25B
Accrued Interest Receivable	54.15B	56.21B	63.47B	72.76B	81.08B
Other Receivables	99.47B	75.84B	72.97B	131B	248B
Restricted Cash	2,126B	1,973B	2,154B	2,359B	1,887B
Other Current Assets, Total	87.36B	96.5B	83.39B	54.36B	115B
Deferred Tax Assets Long-Term (Collected)	133B	143B	150B	161B	148B
Other Real Estate Owned And Foreclosed	716M	899M	1.08B	1.4B	1.21B
Deferred Charges Long-Term	2.23B	2.72B	3B	5.16B	3.21B
Other Long-Term Assets, Total	9.59B	15.57B	14.46B	10.75B	9.94B
Total Assets	27,205B	29,069B	33,928B	39,873B	43,238B
Liabilities
Accrued Expenses, Total	147B	173B	202B	235B	282B
Interest Bearing Deposits	20,565B	22,103B	25,497B	29,728B	31,945B
Non-Interest Bearing Deposits	931B	1,106B	1,683B	2,347B	2,481B
Total Deposits	21,496B	23,209B	27,181B	32,075B	34,426B
Short-Term Borrowings	66.64B	24.09B	1,112B	1,401B	1,672B
Current Portion of Long-Term Debt	2,155B	2,142B	1,581B	1,913B	2,199B
Current Portion of Leases	-	-	-	-	3.92B
Long-Term Debt	452B	436B	486B	620B	693B
Long-Term Leases	9.82B	10.07B	10.92B	11.7B	6.89B
Current Income Taxes Payable	54.34B	61.64B	47.72B	39.52B	5.76B
Accrued Interest Payable	271B	321B	399B	477B	547B
Other Current Liabilities - (Bank / Utility Template)	183B	188B	152B	134B	234B
Pension & Other Post Retirement Benefits	9.43B	2.47B	2.65B	2.47B	2.22B
Deferred Tax Liability Non-Current	334M	655M	9M	14M	309M
Other Non Current Liabilities	149B	81.66B	77.92B	68.11B	69.26B
Total Liabilities	24,994B	26,648B	31,253B	36,976B	40,141B
Preferred Stock Convertible	79.9B	79.9B	80B	80B	80B
Total Preferred Equity	79.9B	79.9B	80B	80B	80B
Common Stock, Total	350B	350B	350B	350B	350B
Additional Paid In Capital	174B	174B	-	-	-
Retained Earnings	1,336B	1,498B	1,668B	1,844B	1,986B
Comprehensive Income and Other	266B	313B	571B	615B	675B
Total Common Equity	2,125B	2,335B	2,588B	2,809B	3,011B
Minority Interest	5.96B	6.75B	6.04B	7.62B	6.46B
Total Equity	2,211B	2,421B	2,674B	2,897B	3,097B
Total Liabilities And Equity	27,205B	29,069B	33,928B	39,873B	43,238B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	350B	350B	350B	350B	350B
ECS Total Common Shares Outstanding	350B	350B	350B	350B	350B
Book Value / Share	5.39	5.87	6.37	6.88	7.4
Tangible Book Value	2,100B	2,307B	2,559B	2,781B	2,980B
Tangible Book Value Per Share	5.31	5.79	6.28	6.8	7.32
Average Assets	25,863B	28,057B	31,728B	36,645B	41,917B
Average Loans	14,420B	16,397B	18,616B	21,348B	23,926B
Total Debt	2,684B	2,611B	3,190B	3,945B	4,575B
Deposits at Interest - Cash	1,099B	1,050B	1,638B	2,442B	1,779B
Net Debt	263B	580B	306B	-245B	1,956B
Equity Method Investments, Total	8.86B	8.3B	8.09B	8.39B	10.33B
Full Time Employees	459K	455K	452K	451K	455K
Number Of Offices	22.95K	22.82K	22.8K	22.86K	22.89K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	216B	241B	259B	269B	282B
Depreciation, Depletion & Amortization	19.55B	19.8B	21.38B	22.3B	19.66B
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	746M
Total Depreciation, Depletion & Amortization	19.55B	19.8B	21.38B	22.3B	20.41B
Amortization of Deferred Charges, Total	-	-	-	-	3.3B
(Gain) Loss On Sale of Asset - (CF)	-1B	-921M	-797M	-1.02B	-
(Gain) Loss on Sale of Investments - (CF)	-3.72B	2.73B	-6.49B	-5.7B	-7.99B
Total Asset Writedown	204M	114M	59M	226M	267M
Provision for Credit Losses	165B	166B	145B	136B	131B
(Income) Loss On Equity Investments - (CF)	-518M	-409M	-66M	-189M	-
Change In Deferred Taxes	-	-	-	-	606M
Change in Other Net Operating Assets (Collected)	-1,640B	-1,701B	-2,811B	-3,215B	1,221B
Other Operating Activities	-191B	-201B	-257B	-274B	-298B
Cash from Operations	-1,436B	-1,473B	-2,650B	-3,068B	1,353B
Capital Expenditure	-22.84B	-26.03B	-22.09B	-28.83B	-24.22B
Sale of Property, Plant, and Equipment	8.35B	5.79B	5.86B	4.57B	7.06B
Cash Acquisitions	-	-	-37M	-	-
Investment in Marketable and Equity Securities, Total	-683B	-558B	-1,302B	-1,607B	-2,584B
Other Investing Activities, Total	229B	247B	267B	300B	358B
Cash from Investing	-469B	-331B	-1,052B	-1,331B	-2,244B
Long-Term Debt Issued, Total	1,731B	1,635B	2,036B	3,342B	3,603B
Total Debt Issued	1,731B	1,635B	2,036B	3,342B	3,603B
Long-Term Debt Repaid, Total	-1,473B	-1,502B	-1,662B	-2,891B	-3,187B
Total Debt Repaid	-1,473B	-1,502B	-1,662B	-2,891B	-3,187B
Issuance of Common Stock	120B	40B	80B	42B	140B
Repurchase of Common Stock	-	-	-	-	-120B
Issuance of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-68.86B	-74.52B	-83.62B	-93.83B	-
Preferred Dividends Paid	-4.33B	-4.06B	-4.06B	-1.94B	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-100B
Common & Preferred Stock Dividends Paid	-73.19B	-78.58B	-87.68B	-95.76B	-100B
Net Increase (Decrease) in Deposit Accounts - (CF)	1,375B	1,713B	3,972B	4,894B	-
Other Financing Activities, Total	-35.04B	-40.53B	-68.1B	-89.88B	-110B
Cash from Financing	1,645B	1,767B	4,270B	5,201B	226B
Foreign Exchange Rate Adjustments	-19.04B	-12.77B	12.64B	5.58B	-1.25B
Net Change in Cash	-279B	-50.39B	581B	807B	-666B
Supplemental Items
Cash Interest Paid	350B	383B	458B	600B	110B
Cash Income Tax Paid (Refund)	63.8B	58.75B	69.32B	57.76B	-
Net Debt Issued / Repaid	258B	133B	374B	451B	416B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	0.83	0.86	0.82	0.73	0.68
Return On Equity %	10.39	10.45	10.15	9.69	9.43
Return on Common Equity	10.34	10.2	9.83	9.39	9.03
Shareholders Value Added	-23.67B	-26.38B	-36.22B	-54.47B	-66.37B
Margin Analysis
SG&A Margin	44.52	45.03	45.5	43.13	32.71
Net Interest Income / Total Revenues %	110.2	103.98	101.68	102.14	100.17
EBT Excl. Non-Recurring Items Margin %	53.59	53.23	52.78	54.92	55.06
Income From Continuing Operations Margin %	43.75	43.52	44.58	48.2	48.76
Net Income Margin %	43.65	43.39	44.66	48.12	48.66
Net Avail. For Common Margin %	41.73	40.91	41.69	45.25	45.33
Normalized Net Income Margin	33.4	33.13	33.07	34.24	34.31
Asset quality
Nonperforming Loans / Total Loans %	1.57	1.43	1.37	1.33	1.28
Nonperforming Loans / Total Assets %	0.87	0.85	0.8	0.75	0.74
Nonperforming Assets / Total Assets %	0.87	0.85	0.8	0.76	0.75
NPAs / Loans and OREO	1.57	1.44	1.38	1.34	1.28
NPAs / Equity	10.76	10.19	10.18	10.43	10.44
Allowance for Credit Losses / Net Charge-offs %	-	-	-	-	-
Allowance for Credit Losses / Nonperforming Loans %	260.64	293.17	288.81	293.54	288.99
Allowance for Credit Losses / Total Loans %	4.08	4.2	3.97	3.91	3.69
Net Charge-offs / Total Average Loans %	-	-	-	-	-
Provision for Loan Losses / Net Charge-offs %	-	-	-	-	-
Earning Assets / IBL	110.22	110.38	110.02	107.98	108.73
Interest Income / Average Assets	3.6	3.59	3.49	3.34	3.04
Interest Expense / Average Assets	1.49	1.53	1.63	1.78	1.66
Net Interest Income / Average Assets	2.11	2.06	1.86	1.56	1.39
Non Interest Income / Average Assets	0.44	0.51	0.43	0.34	0.31
Non Interest Expense / Average Asset	0.89	0.93	0.86	0.69	0.62
Capital And Funding
Total Average Common Equity / Total Average Assets %	7.67	7.92	7.81	7.31	7
Total Average Equity / Total Average Assets %	8	8.23	8.09	7.55	7.21
Total Equity + Allowance for Loan Losses / Total Loans %	18.65	18.3	17.5	16.72	15.96
Gross Loans / Total Deposits %	70.41	73.83	72.56	70.35	73.2
Net Loans / Total Deposits %	67.54	70.73	69.68	67.6	70.5
Tier 1 Capital Ratio %	12.92	13.46	13.37	12.87	13.63
Total Capital Ratio %	16.59	17.13	17.2	17.14	18.19
Core Tier 1 Capital Ratio	11.04	11.44	11.15	10.72	11.42
Tier 2 Capital Ratio	3.66	3.67	3.83	4.27	4.56
Coverage Ratio	260.64	293.17	288.81	293.54	288.99
Interbank Ratio	94.88	77.1	81.2	82.34	34.42
Fixed Charges Coverage
EBT + Interest Expense / Interest Expense	1.69	1.69	1.59	1.47	1.46
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	8.83	6.04	2.07	-3.07	1.56
Non Interest Income, 1 Yr. Growth %	-11.07	25.83	-5.72	17.38	5.51
Provision For Loan Losses, 1 Yr. Growth %	18.83	0.72	-12.43	-6.58	-3.59
Total Revenues, 1 Yr. Growth %	0.79	12.38	4.38	1.77	3.68
Earnings From Cont. Operations, 1 Yr. Growth %	1.63	11.8	6.92	4.23	4.76
Net Income, 1 Yr. Growth %	1.8	11.7	7.45	3.91	4.72
Normalized Net Income, 1 Yr. Growth %	-0.38	11.5	4.17	-0.13	3.78
Diluted EPS Before Extra, 1 Yr. Growth %	-0.05	10.17	6.2	4.35	4.17
Dividend Per Share, 1 Yr. Growth %	1.76	11.72	7.45	3.92	4.76
Gross Loans, 1 Yr. Growth %	13.55	13.21	15.1	14.42	9.85
Allowance For Loan Losses, 1 Yr. Growth %	14.32	16.6	8.64	12.77	5.08
Net Loans, 1 Yr. Growth %	13.52	13.07	15.38	14.49	10.04
Non Performing Loans, 1 Yr. Growth %	26.66	3.66	10.29	10.96	7.12
Non Performing Assets, 1 Yr. Growth %	26.64	3.72	10.32	11.03	7.02
Total Assets, 1 Yr. Growth %	9.36	6.85	16.71	17.53	8.44
Total Deposits, 1 Yr Growth %	6.85	7.97	17.11	18	7.33
Tangible Book Value, 1 Yr. Growth %	13.89	9.84	10.95	8.63	7.24
Average Interest Earning Assets, 1 Yr. Growth %	10.56	9.69	13.86	15.58	14.2
Average Interest Bearing Liabilities, 1 Yr. Growth %	8.64	9.54	14.23	17.76	13.41
Common Equity, 1 Yr. Growth %	13.72	9.87	10.87	8.55	7.17
Total Equity, 1 Yr. Growth %	13.15	9.53	10.45	8.34	6.92
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	6.81	7.42	4.04	-0.54	-0.78
Non Interest Income, 2 Yr. CAGR %	-4.32	5.78	8.92	-7.23	11
Provision For Loan Losses, 2 Yr. CAGR %	9.79	9.4	-6.08	-9.55	-5.1
Total Revenues, 2 Yr. CAGR %	3.04	6.43	8.31	0.35	2.66
Earnings From Cont. Operations, 2 Yr. CAGR %	3.34	6.6	9.34	5.61	4.5
Net Income, 2 Yr. CAGR %	3.19	6.64	9.55	5.68	4.31
Normalized Net Income, 2 Yr. CAGR %	2.38	5.39	7.77	2.02	1.81
Diluted EPS Before Extra, 2 Yr. CAGR %	0.2	4.94	8.17	5.27	4.26
Dividend Per Share, 2 Yr. CAGR %	3.17	6.62	9.56	5.67	4.34
Gross Loans, 2 Yr. CAGR %	12.72	13.38	14.15	14.75	13.04
Allowance For Loan Losses, 2 Yr. CAGR %	13.57	15.45	12.55	10.69	9.05
Net Loans, 2 Yr. CAGR %	12.68	13.29	14.22	14.93	13.2
Non Performing Loans, 2 Yr. CAGR %	11.71	14.58	6.92	10.62	9.02
Non Performing Assets, 2 Yr. CAGR %	11.68	14.61	6.97	10.68	9.01
Total Assets, 2 Yr. CAGR %	9.69	8.1	11.67	17.12	12.89
Total Deposits, 2 Yr CAGR %	8.48	7.41	12.45	17.56	12.54
Tangible Book Value, 2 Yr. CAGR %	15.82	11.85	10.39	9.8	7.89
Average Interest Earning Assets, 2 Yr. CAGR %	9.95	10.12	11.75	14.71	14.89
Average Interest Bearing Liabilities, 2 Yr. CAGR %	8.99	9.09	11.86	15.98	15.57
Common Equity, 2 Yr. CAGR %	15.59	11.78	10.37	9.7	7.86
Total Equity, 2 Yr. CAGR %	14.89	11.32	9.99	9.38	7.63
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	7.24	6.55	5.61	1.61	0.16
Non Interest Income, 3 Yr. CAGR %	4.21	4.83	1.8	2.69	-3.33
Provision For Loan Losses, 3 Yr. CAGR %	18.87	6.68	1.58	-6.25	-7.61
Total Revenues, 3 Yr. CAGR %	3.6	6.06	5.74	4.21	1.41
Earnings From Cont. Operations, 3 Yr. CAGR %	3.86	6.09	6.7	7.63	5.32
Net Income, 3 Yr. CAGR %	3.82	5.95	6.91	7.65	5.36
Normalized Net Income, 3 Yr. CAGR %	3.36	5.33	4.98	5.08	2.6
Diluted EPS Before Extra, 3 Yr. CAGR %	0.56	3.42	5.36	6.88	4.9
Dividend Per Share, 3 Yr. CAGR %	1.26	5.95	6.9	7.65	5.36
Gross Loans, 3 Yr. CAGR %	12.18	12.88	13.95	14.24	13.72
Allowance For Loan Losses, 3 Yr. CAGR %	15.19	14.57	13.14	12.62	8.92
Net Loans, 3 Yr. CAGR %	12.06	12.81	13.98	14.3	13.92
Non Performing Loans, 3 Yr. CAGR %	6.91	8.96	13.13	8.25	9.44
Non Performing Assets, 3 Yr. CAGR %	6.53	8.96	13.16	8.31	9.44
Total Assets, 3 Yr. CAGR %	8.92	8.74	10.9	13.59	14.15
Total Deposits, 3 Yr CAGR %	7.77	8.31	10.55	14.27	14.04
Tangible Book Value, 3 Yr. CAGR %	16.72	13.79	11.54	9.82	8.92
Average Interest Earning Assets, 3 Yr. CAGR %	8.63	9.86	11.35	13.01	14.54
Average Interest Bearing Liabilities, 3 Yr. CAGR %	8.23	9.18	10.77	13.79	15.12
Common Equity, 3 Yr. CAGR %	16.42	13.65	11.48	9.75	8.85
Total Equity, 3 Yr. CAGR %	15.65	13.08	11.03	9.43	8.55
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	4.56	7.74	5.95	3.66	3
Non Interest Income, 5 Yr. CAGR %	1.76	5.12	6.06	-0.17	0.21
Provision For Loan Losses, 5 Yr. CAGR %	14.37	13.92	8.18	-0.14	-1.15
Total Revenues, 5 Yr. CAGR %	1.61	5.58	5.46	3.74	3.39
Earnings From Cont. Operations, 5 Yr. CAGR %	3.66	5.62	6.02	5.89	5.83
Net Income, 5 Yr. CAGR %	3.64	5.57	6.07	5.84	5.87
Normalized Net Income, 5 Yr. CAGR %	2.65	5.43	5.1	3.99	3.71
Diluted EPS Before Extra, 5 Yr. CAGR %	1.46	3.39	3.54	4.16	4.92
Dividend Per Share, 5 Yr. CAGR %	2.1	4	4.5	5.83	5.87
Gross Loans, 5 Yr. CAGR %	11.18	12.01	12.97	13.63	13.58
Allowance For Loan Losses, 5 Yr. CAGR %	8.91	12.48	14.13	13	11.49
Net Loans, 5 Yr. CAGR %	11.28	11.99	12.92	13.65	13.67
Non Performing Loans, 5 Yr. CAGR %	2.18	1.26	6.92	9.62	11.47
Non Performing Assets, 5 Yr. CAGR %	2.08	1.17	6.71	9.65	11.48
Total Assets, 5 Yr. CAGR %	8.86	8.24	10.01	12.02	11.69
Total Deposits, 5 Yr CAGR %	7.81	7.46	9.62	11.92	11.34
Tangible Book Value, 5 Yr. CAGR %	13.74	13.74	14.15	12.18	10.08
Average Interest Earning Assets, 5 Yr. CAGR %	8.67	9.02	9.87	11.78	12.75
Average Interest Bearing Liabilities, 5 Yr. CAGR %	8.56	8.92	9.67	11.85	12.67
Common Equity, 5 Yr. CAGR %	13.46	13.52	13.96	12.05	10.01
Total Equity, 5 Yr. CAGR %	12.78	12.87	13.35	11.58	9.65