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,公司名称：,,,,,,,,,,,,,
,（单位：万元),,,,,,,,,,,,,
,一般情景,,,,,,,,,,,,,
,"自由现金流、利息税收抵减额、超常利润FreeCashFlow,ITSandAbnormalEarnings",,,,,,,,,,,,,
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,,,,,,,,,,,,,,,
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,1、从EBIT计算FCF,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,EBIT,,,"205,414","240,306","275,836","298,549","318,025","351,553","388,548","424,541","458,556","489,392"
,,所得税税率,,,15%,15%,15%,15%,15%,15%,15%,15%,15%,15%
,,,,,,,,,,,,,,,
,,EBIT*(1-所得税税率),,,"174,602","204,260","234,460","253,767","270,321","298,820","330,266","360,860","389,772","415,984"
,,折旧与摊销,,,0,0,0,0,0,0,0,0,0,0
,,营运资金的净变动,,,0,0,0,0,0,0,0,0,0,0
,,资本性投资,,,0,0,0,0,0,0,0,0,0,0
,,坏帐准备,,,0,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,,FCF,,,"174,602","204,260","234,460","253,767","270,321","298,820","330,266","360,860","389,772","415,984"
,,,,,,,,,,,,,,,
,2、从EBITDA计算FCF,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,EBITDA,,,"288,472","333,115","374,394","402,358","428,084","466,611","508,606","549,350","587,864","623,201"
,,所得税税率,,,15.0%,15.0%,15.0%,15.0%,15.0%,15.0%,15.0%,15.0%,15.0%,15.0%
,,,,,,,,,,,,,,,
,,EBITDA*(1-所得税税率),,,"245,201","283,148","318,235","342,004","363,871","396,620","432,315","466,947","499,685","529,721"
,,折旧与摊销*所得税税率,,,0,0,0,0,0,0,0,0,0,0
,,营运资金的净变动,,,0,0,0,0,0,0,0,0,0,0
,,资本性投资,,,0,0,0,0,0,0,0,0,0,0
,,坏帐准备,,,0,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,,FCF,,,"245,201","283,148","318,235","342,004","363,871","396,620","432,315","466,947","499,685","529,721"
,3、从税后利润计算FCF,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,利息费用,,,0,0,0,0,0,0,0,0,0,0
,,利息收入,,,0,0,0,0,0,0,0,0,0,0
,,所得税税率,,,15%,15%,15%,15%,15%,15%,15%,15%,15%,15%
,,,,,,,,,,,,,,,
,,税后利润,,,"178,306","207,945","238,124","257,418","273,961","302,440","333,865","364,439","393,332","419,525"
,,(利息费用－利息收入)*(1-所得税税率）,,,0,0,0,0,0,0,0,0,0,0
,,非经常性损益*（1-所得税率）,,,"(3,825)","(3,825)","(3,825)","(3,825)","(3,825)","(3,825)","(3,825)","(3,825)","(3,825)","(3,825)"
,,折旧与摊销,,,0,0,0,0,0,0,0,0,0,0
,,营运资金的净变动,,,0,0,0,0,0,0,0,0,0,0
,,资本性投资,,,0,0,0,0,0,0,0,0,0,0
,,坏帐准备,,,0,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,,FCF,,,"174,481","204,120","234,299","253,593","270,136","298,615","330,040","360,614","389,507","415,700"
,,,,,,,,,,,,,,,
,,FCF*（包括少数股东权益）,,,"174,602","204,260","234,460","253,767","270,321","298,820","330,266","360,860","389,772","415,984"
,,,,,,,,,,,,,,,
,4、从现金流量表计算FCF,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,经营活动产生的现金流量,,,0,0,0,0,0,0,0,0,0,0
,,投资活动产生的现金流量（不含短期投资的变动）,,,0,0,0,0,0,0,0,0,0,0
,,(利息费用－利息收入)*(1-所得税税率）,,,0,0,0,0,0,0,0,0,0,0
,,非经常性损益*（1-所得税率）,,,-3825,-3825,-3825,-3825,-3825,-3825,-3825,-3825,-3825,-3825
,,,,,,,,,,,,,,,
,,FCF,,,-3825,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,,少数股东权益*对少数股东的派现比例,,,96,112,129,139,148,164,181,197,213,227
,,,,,,,,,,,,,,,
,,FCF*（包括少数股东权益）,,,-3729,112,129,139,148,164,181,197,213,227
,,,,,,,,,,,,,,,
,5、FCFE,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,FCF,,,174602,204260,234460,253767,270321,298820,330266,360860,389772,415984
,,(利息费用－利息收入)*(1-所得税税率),,,0,0,0,0,0,0,0,0,0,0
,,长期贷款的增加/(减少),,,0,0,0,0,0,0,0,0,0,0
,,循环贷款的增加(减少),,,0,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,,FCFE,,,174602,204260,234460,253767,270321,298820,330266,360860,389772,415984
,,,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,6、ITS,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,利息费用*所得税税率,,,0,0,0,0,0,0,0,0,0,0
,,,,,,,,,,,,,,,
,7、AE,,,,,,,,,,,,,
,,,,,,,,,,,,,,,
,会计年度截止日：12/31,,,,2004,2005,2006,2007,2008,2009,2010,2011,2012,2013
,,,,,,,,,,,,,,,
,,税后利润,,,178306,207945,238124,257418,273961,302440,333865,364439,393332,419525
,,期初净资产,,,713116,802269,906241,1001491,110445
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