ENN Energy Holdings Limited (2688.HK)

Industry: Regulated Gas Sector: Utilities Currency Used: CN Live Price: $68.20

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Stock Price	55.08	71.19	103.39	121.20	87.60	71.34	63.00	44.37	30.61	35.99	39.86	38.72	24.66	21.07	17.38	14.63
Market Capitalization	61,655.80M	80,354.66M	116,806.96M	136,937.84M	98,658.85M	80,249.08M	69,313.25M	48,009.74M	35,521.19M	38,970.82M	56,059.14M	41,937.27M	26,186.91M	22,126.77M	17,948.91M	14,775.02M
(-) Cash & Equivalents	7,882.00M	10,313.50M	9,814.50M	8,667.50M	8,284.00M	7,557.50M	7,094.50M	7,400.00M	6,283.50M	6,551.00M	8,806.00M	7,286.50M	4,887.00M	4,503.04M	2,705.17M	2,465.56M
(+) Total Debt	20,502.00M	22,979.00M	21,725.50M	19,568.50M	20,616.50M	19,689.00M	18,877.50M	19,085.00M	16,205.50M	15,797.50M	13,628.50M	12,625.50M	11,444.50M	10,255.28M	6,297.56M	5,805.52M
Enterprise Value	74,275.80M	93,020.16M	128,717.96M	147,838.84M	110,991.35M	92,380.58M	81,096.25M	59,694.74M	45,443.19M	48,217.32M	60,881.64M	47,276.27M	32,744.41M	27,879.01M	21,541.30M	18,114.98M

Income Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Revenue	225,273M	216,043M	109,853M	113,858M	110,051M	93,113M	71,617M	70,183M	60,698M	48,269M	34,103M	32,063M	29,087M	22,966M	18,027M	15,068M	11,215M	8,413M	8,266M	5,756M	3,397M	2,057M	1,440M	878M	544M	241M	122M
Cost of Revenue	198,230M	186,116M	96,448M	99,520M	94,295M	79,057M	59,285M	58,918M	51,188M	39,930M	26,753M	25,197M	23,018M	17,502M	13,183M	11,166M	8,203M	5,875M	6,019M	4,006M	2,203M	1,285M	850M	503M	290M	97M	58M
Gross Profit	27,043M	29,927M	13,405M	14,338M	15,756M	14,056M	12,332M	11,265M	9,510M	8,339M	7,350M	6,866M	6,069M	5,464M	4,844M	3,902M	3,012M	2,538M	2,247M	1,750M	1,193M	772M	590M	375M	255M	143M	64M
Gross Profit Margin	12.0%	13.9%	12.2%	12.6%	14.3%	15.1%	17.2%	16.1%	15.7%	17.3%	21.6%	21.4%	20.9%	23.8%	26.9%	25.9%	26.9%	30.2%	27.2%	30.4%	35.1%	37.5%	40.9%	42.7%	46.8%	59.5%	52.3%
R&D Expenses	974M	874M	421M	553M	819M	55M	0M	0M	0M	0M	0M	0M	0M	0M	7M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	10,519M	10,706M	1,555M	5,315M	5,441M	4,847M	4,181M	4,075M	3,441M	3,012M	2,757M	2,683M	2,417M	2,133M	1,971M	1,663M	1,382M	1,016M	1,160M	939M	605M	332M	260M	159M	89M	45M	11M
Operating Expenses	11,757M	9,624M	4,707M	5,868M	6,260M	4,902M	4,181M	2,043M	3,788M	2,967M	2,879M	2,434M	1,017M	2,209M	1,411M	1,482M	1,172M	1,044M	946M	992M	728M	358M	231M	173M	94M	33M	5M
Operating Income (EBIT)	15,286M	20,303M	8,698M	8,470M	9,496M	9,154M	8,151M	9,222M	5,722M	5,372M	4,471M	4,432M	5,052M	3,255M	3,433M	2,420M	1,840M	1,494M	1,301M	758M	465M	414M	359M	202M	161M	110M	58M
Operating Income Margin	6.8%	9.4%	7.9%	7.4%	8.6%	9.8%	11.4%	13.1%	9.4%	11.1%	13.1%	13.8%	17.4%	14.2%	19.0%	16.1%	16.4%	17.8%	15.7%	13.2%	13.7%	20.1%	24.9%	23.0%	29.5%	45.7%	47.8%
Interest Income	38M	584M	28M	189M	192M	200M	204M	0M	121M	182M	276M	405M	305M	495M	581M	46M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	176M	0M	761M	792M	654M	528M	561M	727M	637M	552M	609M	542M	430M	503M	621M	460M	311M	328M	381M	281M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-138M	584M	-733M	-603M	-462M	-328M	-357M	-727M	-516M	-370M	-333M	-137M	-125M	-8M	-40M	-414M	-311M	-328M	-381M	-281M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	2,384M	-1,168M	832M	2,138M	18M	2,567M	1,764M	346M	395M	188M	57M	-268M	-180M	-487M	-541M	321M	282M	216M	211M	338M	69M	15M	-44M	-3M	-5M	-10M	-8M
EBT Excluding Unusual Items	15,148M	20,887M	7,965M	7,867M	9,034M	8,826M	7,794M	8,495M	5,206M	5,002M	4,138M	4,295M	4,927M	3,247M	3,393M	2,006M	1,529M	1,165M	920M	477M	465M	414M	359M	202M	161M	110M	58M
Pre-Tax Income	17,532M	19,719M	8,797M	10,005M	9,052M	11,393M	9,558M	8,841M	5,601M	5,190M	4,195M	4,027M	4,747M	2,760M	2,852M	2,327M	1,811M	1,381M	1,131M	815M	534M	429M	315M	199M	156M	100M	50M
Pre-Tax Margin	7.8%	9.1%	8.0%	8.8%	8.2%	12.2%	13.3%	12.6%	9.2%	10.8%	12.3%	12.6%	16.3%	12.0%	15.8%	15.4%	16.1%	16.4%	13.7%	14.2%	15.7%	20.9%	21.9%	22.7%	28.7%	41.4%	41.2%
Income Tax Expense	3,816M	4,704M	1,921M	2,273M	2,386M	2,398M	2,227M	1,980M	1,783M	1,517M	1,307M	1,306M	1,127M	960M	859M	660M	410M	304M	260M	108M	50M	39M	9M	3M	12M	11M	7M
Net Income	11,899M	13,190M	5,987M	6,816M	5,867M	7,755M	6,278M	5,670M	2,818M	2,802M	2,151M	2,036M	2,968M	1,252M	1,482M	1,253M	1,013M	801M	631M	706M	484M	390M	252M	183M	128M	79M	37M
Net Income Margin	5.3%	6.1%	5.5%	6.0%	5.3%	8.3%	8.8%	8.1%	4.6%	5.8%	6.3%	6.3%	10.2%	5.5%	8.2%	8.3%	9.0%	9.5%	7.6%	12.3%	14.2%	19.0%	17.5%	20.9%	23.5%	33.0%	30.6%
Depreciation & Amortization	5,297M	4,789M	2,534M	2,534M	2,388M	2,082M	1,883M	1,784M	1,286M	1,118M	1,064M	1,043M	817M	708M	621M	519M	440M	380M	304M	237M	194M	111M	82M	56M	25M	0M	0M
EBITDA	20,583M	25,092M	11,232M	11,004M	11,884M	11,236M	10,034M	11,006M	7,008M	6,490M	5,535M	5,475M	5,869M	3,963M	4,054M	2,939M	2,280M	1,874M	1,605M	995M	659M	524M	441M	258M	186M	110M	58M
EBITDA Margin	9.1%	11.6%	10.2%	9.7%	10.8%	12.1%	14.0%	15.7%	11.5%	13.4%	16.2%	17.1%	20.2%	17.3%	22.5%	19.5%	20.3%	22.3%	19.4%	17.3%	19.4%	25.5%	30.6%	29.4%	34.1%	45.7%	47.8%
NOPAT	11,959M	15,460M	6,799M	6,546M	6,993M	7,227M	6,252M	7,157M	3,900M	3,802M	3,078M	2,995M	3,853M	2,123M	2,399M	1,734M	1,423M	1,164M	1,002M	657M	422M	377M	348M	199M	148M	98M	50M
NOPAT Margin	5.3%	7.2%	6.2%	5.7%	6.4%	7.8%	8.7%	10.2%	6.4%	7.9%	9.0%	9.3%	13.2%	9.2%	13.3%	11.5%	12.7%	13.8%	12.1%	11.4%	12.4%	18.3%	24.2%	22.7%	27.2%	40.6%	41.2%
Owner's Earnings	4,447M	4,958M	1,787M	2,855M	2,014M	3,584M	2,646M	182M	-1,860M	-626M	89M	535M	1,214M	-1,089M	-685M	-940M	-738M	-372M	-254M	-724M	-805M	-472M	-622M	-462M	-268M	-32M	13M
Owner's Earnings Margin	2.0%	2.3%	1.6%	2.5%	1.8%	3.8%	3.7%	0.3%	-3.1%	-1.3%	0.3%	1.7%	4.2%	-4.7%	-3.8%	-6.2%	-6.6%	-4.4%	-3.1%	-12.6%	-23.7%	-23.0%	-43.2%	-52.6%	-49.2%	-13.3%	10.8%
EPS (Basic)	10.63	11.68	5.35	6.04	5.20	6.88	5.59	5.05	2.56	2.59	1.99	1.88	2.74	1.16	1.39	1.19	0.97	0.78	0.63	0.51	0.41	0.31	0.30	0.25	0.18	0.14	0.09
EPS (Diluted)	10.63	11.67	5.35	6.04	5.19	6.86	5.57	5.04	2.56	2.59	1.85	1.88	2.55	1.16	1.38	1.18	0.95	0.77	0.61	0.70	0.49	0.44	0.29	0.25	0.18	0.14	0.09
Shares (Basic)	1,119M	1,129M	1,119M	1,128M	1,130M	1,130M	1,126M	1,125M	1,101M	1,082M	1,162M	1,083M	1,439M	1,083M	1,074M	1,050M	1,050M	1,033M	1,010M	990M	937M	887M	847M	738M	711M	554M	420M
Shares (Diluted)	1,119M	1,130M	1,119M	1,129M	1,130M	1,131M	1,126M	1,126M	1,103M	1,083M	1,162M	1,083M	1,163M	1,083M	1,074M	1,062M	1,062M	1,037M	1,027M	1,016M	981M	893M	864M	744M	711M	554M	420M

Balance Sheet

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Cash & Cash Equivalents	6,339.00M	7,693.00M	7,693.00M	9,689.00M	8,056.00M	8,684.00M	8,630.00M	7,373.00M	7,923.00M	7,972.00M	7,163.00M	7,355.00M	10,503.00M	6,822.00M	6,156.00M	3,349.00M	2,851.30M	2,712.66M	1,725.36M	1,693.46M	1,567.55M	1,621.09M	911.54M	487.13M	631.54M	182.47M	39.37M
Short-Term Investments	0.00M	0.00M	0.00M	100.00M	26.00M	152.00M	70.00M	16.00M	748.00M	803.00M	580.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.50M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	6,339.00M	7,693.00M	7,693.00M	9,789.00M	8,082.00M	8,836.00M	8,700.00M	7,389.00M	8,671.00M	8,775.00M	7,743.00M	7,355.00M	10,503.00M	6,822.00M	6,156.00M	3,349.00M	2,851.30M	2,712.66M	1,725.36M	1,693.46M	1,567.55M	1,626.60M	911.54M	487.13M	631.54M	182.47M	39.37M
Net Receivables	7,407.00M	12,608.00M	12,608.00M	6,096.00M	5,825.00M	6,855.00M	5,607.00M	5,645.00M	5,998.00M	4,213.00M	2,511.00M	1,846.00M	1,655.00M	1,630.00M	1,297.00M	1,784.00M	-0.65M	1,625.72M	2,208.41M	1,566.44M	1,324.74M	946.45M	44.31M	400.52M	164.00M	93.02M	121.76M
Inventory	1,215.00M	1,513.00M	1,513.00M	1,682.00M	2,056.00M	1,508.00M	1,285.00M	1,169.00M	1,331.00M	744.00M	515.00M	404.00M	510.00M	419.00M	311.00M	272.00M	249.02M	286.05M	254.06M	235.36M	171.22M	115.71M	106.90M	72.95M	47.02M	31.99M	12.90M
Other Current Assets	5,803.00M	370.00M	370.00M	8,543.00M	11,170.00M	10,359.00M	7,976.00M	5,312.00M	5,539.00M	3,894.00M	3,071.00M	2,252.00M	2,334.00M	2,226.00M	1,111.00M	2,819.00M	1,966.00M	118.27M	79.82M	0.00M	0.00M	1,103.64M	585.07M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	20,764.00M	22,184.00M	22,184.00M	26,110.00M	27,133.00M	27,558.00M	23,568.00M	19,515.00M	21,539.00M	17,626.00M	13,840.00M	11,857.00M	15,002.00M	11,097.00M	8,875.00M	8,224.00M	5,065.67M	4,742.69M	4,267.64M	3,495.26M	3,063.51M	3,792.40M	1,647.82M	960.60M	842.56M	307.48M	174.03M
Property, Plant & Equipment	57,236.00M	55,904.00M	55,904.00M	53,081.00M	52,703.00M	48,912.00M	43,990.00M	40,140.00M	31,073.00M	25,490.00M	22,297.00M	21,121.00M	19,441.00M	17,531.00M	15,099.00M	13,073.00M	10,800.12M	9,092.06M	7,855.39M	6,855.59M	5,277.21M	3,606.58M	2,941.59M	2,029.62M	905.26M	409.89M	261.00M
Goodwill	2,486.00M	2,504.00M	2,504.00M	2,504.00M	2,520.00M	2,520.00M	2,511.00M	2,379.00M	2,248.00M	192.00M	188.00M	752.00M	728.00M	206.00M	196.00M	196.00M	191.84M	171.86M	168.93M	153.63M	184.27M	148.00M	-4.35M	-4.12M	20.05M	5.94M	0.00M
Intangible Assets	4,339.00M	4,420.00M	4,420.00M	4,021.00M	4,408.00M	4,301.00M	4,422.00M	4,164.00M	3,012.00M	1,596.00M	1,462.00M	1,454.00M	1,265.00M	1,294.00M	1,238.00M	1,051.00M	702.35M	449.77M	464.71M	469.50M	267.39M	0.00M	94.70M	78.33M	0.00M	0.00M	0.00M
Long-Term Investments	15,081.00M	15,034.00M	15,034.00M	14,378.00M	13,042.00M	13,390.00M	12,731.00M	12,113.00M	11,626.00M	10,012.00M	9,936.00M	9,003.00M	4,432.00M	3,916.00M	3,083.00M	3,377.00M	2,724.26M	1,987.89M	0.00M	907.65M	0.00M	361.19M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.00M	1,237.00M	1,237.00M	0.00M	1,564.00M	1,212.00M	1,370.00M	1,292.00M	1,159.00M	941.00M	745.00M	582.00M	422.00M	318.00M	222.00M	176.00M	130.95M	33.68M	0.00M	227.00M	0.00M	5.50M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	3,243.00M	12.00M	12.00M	2,772.00M	988.00M	2,095.00M	1,451.00M	1,642.00M	3,257.00M	3,358.00M	2,913.00M	2,250.00M	1,745.00M	1,543.00M	-222.00M	71.00M	11.38M	214.23M	1,808.30M	432.48M	1,236.05M	549.10M	232.96M	33.50M	2.50M	0.00M	0.00M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1,590.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	82,385.00M	79,111.00M	79,111.00M	76,756.00M	75,225.00M	72,430.00M	66,475.00M	61,730.00M	52,375.00M	41,589.00M	37,541.00M	35,162.00M	28,033.00M	24,808.00M	21,206.00M	17,944.00M	14,560.90M	11,949.50M	10,297.32M	9,045.85M	6,964.91M	4,670.37M	3,264.91M	2,137.32M	927.81M	415.82M	261.00M
Total Assets	103,149.00M	101,295.00M	101,295.00M	102,866.00M	102,358.00M	99,988.00M	90,043.00M	81,245.00M	73,914.00M	59,215.00M	51,381.00M	47,019.00M	43,035.00M	35,905.00M	30,081.00M	26,168.00M	19,626.57M	16,692.19M	14,564.96M	12,541.11M	10,028.42M	8,462.77M	4,912.72M	3,097.93M	1,770.37M	723.31M	435.03M
Accounts Payable	8,277.00M	6,214.00M	6,214.00M	6,147.00M	8,292.00M	9,650.00M	7,904.00M	7,393.00M	5,872.00M	4,195.00M	2,788.00M	2,099.00M	2,484.00M	2,071.00M	1,821.00M	1,437.00M	4,903.00M	3,761.96M	3,402.78M	2,687.13M	1,996.70M	1,028.52M	612.14M	490.07M	246.07M	123.34M	240.46M
Short-Term Debt	5,864.00M	6,464.00M	6,464.00M	9,370.00M	6,581.00M	12,043.00M	7,149.00M	7,596.00M	11,881.00M	9,911.00M	6,288.00M	8,285.00M	2,214.00M	921.00M	3,935.00M	3,213.00M	2,379.35M	1,484.50M	1,869.49M	1,233.15M	665.15M	616.12M	643.44M	541.39M	202.02M	74.93M	87.39M
Tax Payables	0.00M	1,328.00M	1,328.00M	1,511.00M	1,768.00M	1,144.00M	1,174.00M	962.00M	782.00M	982.00M	732.00M	706.00M	442.00M	319.00M	292.00M	234.00M	172.29M	97.91M	75.93M	35.85M	36.09M	37.44M	6.25M	1.32M	8.75M	2.93M	6.66M
Deferred Revenue	0.00M	-4.00M	-4.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-3,935.00M	354.00M	201.40M	114.20M	151.62M	35.85M	36.09M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	16,569.00M	15,117.00M	15,117.00M	15,515.00M	18,988.00M	17,238.00M	15,975.00M	14,262.00M	13,256.00M	10,033.00M	8,159.00M	7,924.00M	7,735.00M	7,021.00M	4,612.00M	3,851.00M	34.13M	19.67M	80.08M	1.35M	1.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Liabilities	30,710.00M	29,119.00M	29,119.00M	32,543.00M	35,629.00M	40,075.00M	32,202.00M	30,213.00M	31,791.00M	25,121.00M	17,967.00M	19,014.00M	12,875.00M	10,332.00M	6,725.00M	9,089.00M	7,690.16M	5,478.23M	5,579.90M	3,993.33M	2,735.53M	1,682.08M	1,261.83M	1,032.79M	456.84M	201.20M	334.51M
Long-Term Debt	12,875.00M	13,068.00M	13,068.00M	13,156.00M	13,451.00M	8,040.00M	12,714.00M	11,650.00M	8,688.00M	9,699.00M	12,147.00M	9,026.00M	12,970.00M	11,522.00M	7,297.00M	7,459.00M	3,883.56M	4,400.01M	3,533.65M	3,821.17M	1,878.34M	1,410.02M	1,221.02M	570.54M	265.41M	48.22M	20.92M
Capital Lease Obligations	800.00M	862.00M	862.00M	803.00M	375.00M	355.00M	399.00M	550.00M	0.00M	0.00M	0.00M	0.00M	43.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	2,574.00M	2,974.00M	2,785.00M	2,562.00M	1,820.00M	1,001.00M	428.00M	397.00M	393.00M	379.00M	399.00M	346.00M	337.00M	225.03M	180.86M	150.87M	110.83M	62.12M	8.40M	24.21M	17.06M	10.62M	3.73M	0.00M
Other Non-Current Liabilities	5,803.00M	5,907.00M	5,907.00M	6.00M	322.00M	1,372.00M	1,111.00M	0.00M	6,655.00M	3,694.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	811.77M	518.78M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	19,478.00M	19,837.00M	19,837.00M	16,539.00M	17,122.00M	12,552.00M	16,786.00M	14,020.00M	16,344.00M	13,821.00M	12,544.00M	9,419.00M	13,392.00M	11,921.00M	7,643.00M	7,796.00M	4,108.60M	4,580.87M	3,684.52M	3,932.00M	2,752.22M	1,937.19M	1,245.22M	587.59M	276.03M	51.95M	20.92M
Total Liabilities	50,188.00M	48,956.00M	48,956.00M	49,082.00M	52,751.00M	52,627.00M	48,988.00M	44,233.00M	48,135.00M	38,942.00M	30,511.00M	28,433.00M	26,267.00M	22,253.00M	14,368.00M	16,885.00M	11,798.76M	10,059.11M	9,264.42M	7,925.33M	5,487.75M	3,619.28M	2,507.05M	1,620.38M	732.87M	253.14M	355.42M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	117.00M	117.00M	117.00M	117.00M	117.00M	117.00M	117.00M	116.00M	116.00M	112.00M	112.00M	113.00M	113.00M	113.00M	113.00M	110.00M	109.88M	109.88M	106.32M	106.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	45,750.00M	39,882.00M	39,882.00M	37,271.00M	38,817.00M	34,350.00M	29,422.00M	23,144.00M	18,650.00M	16,778.00M	14,736.00M	13,271.00M	11,235.00M	8,267.00M	7,014.00M	0.00M	3,259.43M	2,508.94M	1,960.88M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	-889.00M	-736.00M	0.00M	192.00M	210.00M	225.00M	56.00M	69.00M	5.00M	-10.00M	98.00M	40.00M	-19.00M	-16.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	6,057.00M	5,975.00M	5,975.00M	5,602.00M	6,522.00M	6,373.00M	5,611.00M	5,152.00M	4,169.00M	3,265.00M	2,888.00M	2,627.00M	2,443.00M	2,349.00M	2,017.00M	1,794.00M	1,508.40M	1,316.43M	1,185.87M	925.11M	811.77M	518.78M	445.96M	339.45M	98.02M	17.50M	9.78M
Total Shareholders’ Equity	44,978.00M	39,263.00M	39,999.00M	37,580.00M	39,144.00M	34,692.00M	29,595.00M	23,329.00M	18,771.00M	16,880.00M	14,946.00M	13,424.00M	11,329.00M	8,364.00M	7,127.00M	110.00M	3,369.30M	2,618.82M	2,067.20M	106.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Equity	51,035.00M	45,238.00M	45,974.00M	43,182.00M	45,666.00M	41,065.00M	35,206.00M	28,481.00M	22,940.00M	20,145.00M	17,834.00M	16,051.00M	13,772.00M	10,713.00M	9,144.00M	1,904.00M	4,877.71M	3,935.25M	3,253.07M	1,031.43M	811.77M	518.78M	445.96M	339.45M	98.02M	17.50M	9.78M
Total Liabilities & Equity	101,223.00M	94,194.00M	94,930.00M	92,264.00M	98,417.00M	93,692.00M	84,194.00M	72,714.00M	71,075.00M	59,087.00M	48,345.00M	44,484.00M	40,039.00M	32,966.00M	23,512.00M	18,789.00M	16,676.46M	13,994.36M	12,517.49M	8,956.76M	6,299.51M	4,138.05M	2,953.01M	1,959.83M	830.89M	270.64M	365.20M
Tangible Assets	96,324.00M	94,371.00M	94,371.00M	96,341.00M	95,430.00M	93,167.00M	83,110.00M	74,702.00M	68,654.00M	57,427.00M	49,731.00M	44,813.00M	41,042.00M	34,405.00M	28,647.00M	24,921.00M	18,732.38M	16,070.55M	13,931.33M	11,917.98M	9,576.77M	8,314.77M	4,822.37M	3,023.72M	1,750.31M	717.37M	435.03M
Tangible Equity	44,210.00M	38,314.00M	39,050.00M	36,657.00M	38,738.00M	34,244.00M	28,273.00M	21,938.00M	17,680.00M	18,357.00M	16,184.00M	13,845.00M	11,779.00M	9,213.00M	7,710.00M	657.00M	3,983.51M	3,313.62M	2,619.43M	408.30M	360.12M	370.78M	355.61M	265.24M	77.97M	11.57M	9.78M
Tangible Book Value	44,210.00M	38,314.00M	39,050.00M	36,657.00M	38,738.00M	34,244.00M	28,273.00M	21,938.00M	17,680.00M	18,357.00M	16,184.00M	13,845.00M	11,779.00M	9,213.00M	7,710.00M	657.00M	3,983.51M	3,313.62M	2,619.43M	408.30M	360.12M	370.78M	355.61M	265.24M	77.97M	11.57M	9.78M
Total Investments	15,081.00M	15,034.00M	15,034.00M	14,478.00M	13,068.00M	13,542.00M	12,801.00M	12,129.00M	11,639.00M	10,815.00M	10,516.00M	9,003.00M	4,432.00M	3,916.00M	3,083.00M	3,377.00M	2,724.26M	1,987.89M	1,160.29M	907.65M	708.85M	366.69M	232.96M	33.50M	2.50M	0.00M	0.00M
Net Debt	12,400.00M	11,839.00M	11,839.00M	12,837.00M	11,976.00M	11,399.00M	11,233.00M	11,873.00M	12,646.00M	11,638.00M	11,272.00M	9,956.00M	4,681.00M	5,621.00M	5,076.00M	7,323.00M	3,411.61M	3,171.85M	3,677.78M	3,360.87M	975.94M	405.04M	952.92M	624.80M	-164.11M	-59.32M	68.94M

Capital Metrics

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Working Capital	-12,056.0M	-10,318.0M	-10,318.0M	-8,548.0M	-8,949.0M	-14,021.0M	-9,665.0M	-11,773.0M	-11,478.0M	-7,979.0M	-4,501.0M	-7,551.0M	1,462.0M	228.0M	-1,927.0M	-576.0M	-2,409.8M	-610.2M	-1,151.3M	-453.2M	370.7M	1,169.6M	391.3M	-72.2M	385.7M	106.3M	-160.5M
Total Capital	64,518.0M	65,495.0M	65,495.0M	65,989.0M	59,447.0M	56,215.0M	50,734.0M	45,564.0M	41,954.0M	36,562.0M	33,401.0M	30,779.0M	27,315.0M	21,986.0M	19,885.0M	17,718.0M	12,294.4M	11,046.3M	9,658.7M	7,356.2M	5,600.1M	4,358.2M	3,829.5M	2,250.0M	1,406.9M	575.8M	178.1M
Capital Employed	70,329.0M	70,718.0M	70,718.0M	68,208.0M	66,276.0M	58,409.0M	56,810.0M	49,957.0M	40,897.0M	33,610.0M	33,040.0M	27,611.0M	29,495.0M	25,036.0M	19,279.0M	17,368.0M	12,151.1M	11,339.3M	9,146.0M	8,592.7M	7,335.6M	5,840.0M	3,656.2M	2,065.1M	1,313.5M	522.1M	100.5M
Invested Capital	58,179.0M	57,802.0M	57,802.0M	56,300.0M	51,391.0M	47,531.0M	42,104.0M	38,191.0M	34,031.0M	28,590.0M	26,238.0M	23,424.0M	16,812.0M	15,164.0M	13,729.0M	14,369.0M	9,443.1M	8,333.7M	7,933.4M	5,662.8M	4,032.6M	2,737.1M	2,918.0M	1,762.9M	775.4M	393.3M	138.8M

Cash Flow Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
Net Income	11,899.00M	13,190.00M	8,797.00M	6,816.00M	5,867.00M	7,755.00M	6,278.00M	5,670.00M	2,818.00M	2,802.00M	2,151.00M	2,036.00M	2,968.00M	1,252.00M	1,482.00M	2,327.00M	1,810.97M	1,381.11M	1,130.68M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Depreciation & Amortization	4,523.00M	5,119.00M	3,106.00M	2,840.00M	2,555.00M	2,238.00M	2,057.00M	1,766.00M	1,282.00M	1,114.00M	1,064.00M	1,043.00M	817.00M	708.00M	621.00M	519.00M	440.32M	380.41M	303.90M	237.05M	193.82M	110.56M	82.34M	56.08M	24.76M	0.00M	0.00M
Deferred Income Tax	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-1,217.00M	-791.14M	0.00M	-748.95M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	754.00M	48.00M	0.00M	9.00M	21.00M	49.00M	70.00M	74.00M	19.00M	34.00M	51.00M	3.00M	0.00M	0.00M	21.00M	46.00M	101.31M	0.00M	4.33M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	260.00M	-1,751.00M	665.00M	-403.00M	-197.00M	-1,554.00M	-1,545.00M	1,711.00M	-522.00M	-2,509.00M	-1,034.00M	223.00M	298.00M	-853.00M	-310.00M	365.00M	864.22M	783.46M	206.47M	192.55M	327.30M	-90.62M	-101.84M	-76.83M	12.80M	0.00M	0.00M
Accounts Receivable	25.00M	-1,743.00M	606.00M	-675.00M	-405.00M	-1,338.00M	-1,261.00M	1,483.00M	-1,659.00M	-2,389.00M	-977.00M	-148.00M	135.00M	-667.00M	-268.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	112.00M	-435.00M	168.00M	-56.00M	-201.00M	-234.00M	-117.00M	216.00M	-404.00M	-220.00M	-105.00M	108.00M	-52.00M	-105.00M	-42.00M	-16.00M	36.96M	-30.86M	-6.46M	-49.68M	1.01M	-5.10M	-39.54M	-12.37M	-6.93M	0.00M	0.00M
Accounts Payable	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	123.00M	427.00M	-109.00M	328.00M	409.00M	18.00M	-167.00M	12.00M	1,541.00M	100.00M	48.00M	263.00M	215.00M	-81.00M	0.00M	381.00M	827.26M	814.32M	212.92M	242.23M	326.29M	-85.53M	-62.30M	-64.46M	19.73M	0.00M	0.00M
Other Non-Cash Items	1,112.00M	3,491.00M	-2,274.00M	350.00M	1,856.00M	1,978.00M	2,836.00M	2,469.00M	4,697.00M	4,652.00M	3,134.00M	1,411.00M	1,000.00M	2,919.00M	1,765.00M	517.00M	289.37M	-338.15M	368.41M	729.56M	540.05M	379.03M	314.23M	195.58M	150.78M	82.25M	84.17M
Net Cash from Operating Activities	18,548.00M	20,097.00M	10,294.00M	9,612.00M	10,102.00M	10,466.00M	9,696.00M	11,690.00M	8,294.00M	6,093.00M	5,366.00M	4,716.00M	5,083.00M	4,026.00M	3,868.00M	2,557.00M	2,715.05M	2,206.83M	1,264.84M	1,159.16M	1,061.16M	398.96M	294.73M	174.83M	188.34M	82.25M	84.17M
Capital Expenditures (PPE)	-8,877.00M	-13,021.00M	-6,225.00M	-6,495.00M	-6,241.00M	-6,253.00M	-5,608.00M	-7,272.00M	-5,964.00M	-4,546.00M	-3,126.00M	-2,544.00M	-2,571.00M	-3,049.00M	-2,788.00M	-2,712.00M	-2,191.08M	-1,552.68M	-1,189.07M	-1,667.09M	-1,482.48M	-973.22M	-956.71M	-700.82M	-420.36M	-111.15M	-24.21M
Acquisitions (Net)	-19.00M	-664.00M	-25.00M	-519.00M	-81.00M	-726.00M	-786.00M	-1,175.00M	-488.00M	-91.00M	-49.00M	-95.00M	-1,164.00M	-46.00M	-452.00M	-927.00M	-490.73M	-167.86M	-130.67M	-193.95M	-289.10M	-40.54M	-58.29M	-56.98M	-11.53M	-31.42M	-27.87M
Purchases of Investments	0.00M	0.00M	0.00M	-11,468.00M	-16,498.00M	-12,348.00M	-10,527.00M	-20,116.00M	-22,959.00M	-14,568.00M	-9,492.00M	-4,069.00M	-11.00M	-106.00M	-126.00M	-11.00M	0.00M	113.02M	0.00M	-202.24M	-17.18M	-46.60M	-149.93M	-1.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	12,372.00M	17,126.00M	12,530.00M	10,489.00M	20,511.00M	22,965.00M	14,522.00M	8,177.00M	0.00M	0.00M	0.00M	0.00M	345.00M	0.00M	27.51M	0.00M	10.49M	-51.59M	0.00M	2.80M	-7.70M	0.00M	0.00M	0.00M
Other Investing Activities	-930.00M	1,682.00M	1,812.00M	1,261.00M	-32.00M	31.00M	-59.00M	1,356.00M	-150.00M	105.00M	-665.00M	-4,223.00M	1,003.00M	1.00M	1,921.00M	-2,344.00M	277.48M	-106.67M	-95.56M	122.20M	156.21M	-214.96M	-1.46M	-13.90M	-2.50M	-8.48M	-19.82M
Net Cash from Investing Activities	-9,826.00M	-12,003.00M	-4,438.00M	-4,849.00M	-5,726.00M	-6,766.00M	-6,491.00M	-6,696.00M	-6,602.00M	-4,532.00M	-3,840.00M	-6,862.00M	-2,732.00M	-3,094.00M	-867.00M	-5,649.00M	-2,404.33M	-1,686.68M	-1,415.30M	-1,930.59M	-1,684.14M	-1,275.33M	-1,163.59M	-780.40M	-434.39M	-151.06M	-71.90M
Net Debt Issuance	-3,113.00M	3,231.00M	-2,471.00M	1,800.00M	-1,258.00M	531.00M	1,088.00M	-2,720.00M	387.00M	1,794.00M	493.00M	926.00M	2,631.00M	1,782.00M	686.00M	4,370.00M	402.00M	498.43M	403.88M	1,067.93M	602.41M	1,848.00M	262.67M	528.70M	300.86M	11.78M	33.75M
Long-Term Debt Issuance	-3,113.00M	3,231.00M	-2,471.00M	1,800.00M	841.00M	531.00M	1,088.00M	-7,881.00M	387.00M	1,794.00M	493.00M	926.00M	2,631.00M	1,782.00M	788.00M	3,872.00M	402.00M	298.43M	203.88M	744.56M	602.41M	1,848.00M	262.67M	528.70M	300.86M	11.78M	33.75M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	-2,099.00M	0.00M	0.00M	5,161.00M	0.00M	509.00M	0.00M	529.00M	0.00M	0.00M	-102.00M	498.00M	0.00M	200.00M	200.00M	323.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-894.00M	0.00M	-665.00M	-229.00M	48.00M	90.00M	96.00M	-151.00M	-78.00M	38.00M	-29.00M	-16.00M	3.00M	0.00M	419.00M	13.00M	0.00M	236.78M	0.00M	115.87M	0.00M	53.09M	516.97M	0.00M	355.63M	252.33M	0.00M
Common Stock Issuance	0.00M	0.00M	-665.00M	20.00M	48.00M	90.00M	96.00M	0.00M	33.00M	38.00M	3.00M	0.00M	3.00M	0.00M	419.00M	13.00M	0.00M	236.78M	0.00M	115.87M	0.00M	53.09M	516.97M	0.00M	355.63M	252.33M	0.00M
Common Stock Repurchased	-894.00M	0.00M	0.00M	-229.00M	0.00M	0.00M	0.00M	0.00M	-78.00M	0.00M	-29.00M	-16.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	-20.00M	0.00M	0.00M	0.00M	-52.00M	-33.00M	0.00M	-3.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-5,992.00M	-5,484.00M	-3,015.00M	-2,977.00M	-2,657.00M	-2,827.00M	-1,719.00M	-1,176.00M	-952.00M	-775.00M	-705.00M	-709.00M	-414.00M	-362.00M	-315.00M	-297.00M	-200.16M	-309.33M	-247.34M	-177.39M	-49.22M	-21.75M	-3.58M	-10.33M	0.00M	-2.98M	-44.00M
Common Dividends Paid	-5,992.00M	-5,484.00M	-3,015.00M	-2,977.00M	-2,657.00M	-2,827.00M	-1,719.00M	-1,176.00M	-952.00M	-775.00M	-705.00M	-709.00M	-414.00M	-362.00M	-315.00M	-297.00M	-200.00M	-157.64M	-247.34M	-177.39M	-95.55M	-21.75M	-3.58M	-10.33M	0.00M	-2.98M	-44.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-3,304.00M	-3,597.00M	-1,707.00M	-1,737.00M	-1,154.00M	-1,430.00M	-1,366.00M	-1,500.00M	-1,131.00M	-1,765.00M	-1,495.00M	-1,219.00M	-883.00M	-1,643.00M	-990.00M	-490.00M	-394.00M	-395.63M	25.83M	-109.08M	62.58M	-293.42M	517.20M	-57.21M	38.63M	-34.56M	95.19M
Net Cash from Financing Activities	-13,303.00M	-5,850.00M	-7,858.00M	-3,143.00M	-5,021.00M	-3,636.00M	-1,901.00M	-5,547.00M	-1,774.00M	-708.00M	-1,736.00M	-1,018.00M	1,337.00M	-223.00M	-200.00M	3,596.00M	-172.08M	467.16M	182.37M	897.34M	569.43M	1,585.92M	1,293.26M	461.16M	695.12M	226.58M	84.94M
Effect of FX on Cash	-18.00M	43.00M	6.00M	13.00M	17.00M	-10.00M	-47.00M	3.00M	30.00M	-41.00M	18.00M	16.00M	-7.00M	-43.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-14.66M	-59.62M
Net Change in Cash	-5,223.50M	-6,062.76M	-1,996.00M	1,633.00M	-628.00M	54.00M	1,257.00M	-550.00M	-52.00M	812.00M	-192.00M	-3,148.00M	3,681.00M	666.00M	2,801.00M	504.00M	138.64M	987.30M	31.90M	125.91M	-53.54M	709.56M	424.41M	-144.41M	449.06M	143.11M	37.59M
Cash at Beginning of Period	19,009.00M	17,106.85M	9,689.00M	8,056.00M	8,684.00M	8,630.00M	7,373.00M	7,923.00M	7,975.00M	7,163.00M	7,355.00M	10,503.00M	6,822.00M	6,156.00M	3,355.00M	2,851.00M	2,712.66M	1,725.36M	1,693.46M	1,567.55M	1,621.09M	911.54M	487.13M	631.54M	182.47M	39.37M	1.78M
Cash at End of Period	13,785.50M	11,044.09M	7,693.00M	9,689.00M	8,056.00M	8,684.00M	8,630.00M	7,373.00M	7,923.00M	7,975.00M	7,163.00M	7,355.00M	10,503.00M	6,822.00M	6,156.00M	3,355.00M	2,851.30M	2,712.66M	1,725.36M	1,693.46M	1,567.55M	1,621.09M	911.54M	487.13M	631.54M	182.47M	39.37M
Operating Cash Flow	18,548.00M	20,097.00M	10,294.00M	9,612.00M	10,102.00M	10,466.00M	9,696.00M	11,690.00M	8,294.00M	6,093.00M	5,366.00M	4,716.00M	5,083.00M	4,026.00M	3,868.00M	2,557.00M	2,715.05M	2,206.83M	1,264.84M	1,159.16M	1,061.16M	398.96M	294.73M	174.83M	188.34M	82.25M	84.17M
Capital Expenditure	-12,749.00M	-13,021.00M	-6,734.00M	-6,495.00M	-6,241.00M	-6,253.00M	-5,515.00M	-7,272.00M	-5,964.00M	-4,546.00M	-3,126.00M	-2,544.00M	-2,571.00M	-3,049.00M	-2,788.00M	-2,712.00M	-2,191.08M	-1,552.68M	-1,189.07M	-1,667.09M	-1,482.48M	-973.22M	-956.71M	-700.82M	-420.36M	-111.15M	-24.21M
Free Cash Flow	5,799.00M	7,076.00M	3,560.00M	3,117.00M	3,861.00M	4,213.00M	4,181.00M	4,418.00M	2,330.00M	1,547.00M	2,240.00M	2,172.00M	2,512.00M	977.00M	1,080.00M	-155.00M	523.97M	654.14M	75.77M	-507.93M	-421.31M	-574.26M	-661.97M	-525.99M	-232.03M	-28.91M	59.96M

Free Cash Flow

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31
EBITDA	20,847.00M	23,136.00M	13,963.00M	11,004.00M	11,884.00M	11,236.00M	10,034.00M	8,974.00M	7,355.00M	6,445.00M	5,657.00M	5,226.00M	4,469.00M	4,039.00M	3,487.00M	2,758.00M	2,070.32M	1,902.24M	1,390.69M	1,048.19M	782.30M	550.08M	411.86M	272.21M	190.13M	97.91M	52.71M
(-) Tax Adjustment	4,537.54M	5,519.13M	3,049.10M	2,499.96M	3,132.48M	2,364.95M	2,337.91M	2,009.79M	2,341.36M	1,883.83M	1,762.50M	1,694.85M	1,061.00M	1,404.87M	1,050.26M	782.24M	468.49M	419.34M	319.73M	139.46M	72.97M	49.65M	12.03M	4.04M	15.01M	10.89M	7.30M
(-) Change In Working Capital	260.00M	-1,751.00M	665.00M	-403.00M	-197.00M	-1,554.00M	-1,545.00M	1,711.00M	-522.00M	-2,509.00M	-1,034.00M	223.00M	298.00M	-853.00M	-310.00M	365.00M	864.22M	783.46M	206.47M	192.55M	327.30M	-90.62M	-101.84M	-76.83M	12.80M	0.00M	0.00M
(-) Capital Expenditure	-12,749.00M	-13,021.00M	-6,734.00M	-6,495.00M	-6,241.00M	-6,253.00M	-5,515.00M	-7,272.00M	-5,964.00M	-4,546.00M	-3,126.00M	-2,544.00M	-2,571.00M	-3,049.00M	-2,788.00M	-2,712.00M	-2,191.08M	-1,552.68M	-1,189.07M	-1,667.09M	-1,482.48M	-973.22M	-956.71M	-700.82M	-420.36M	-111.15M	-24.21M
Unlevered Free Cash Flow	3,300.46M	6,346.87M	3,514.90M	2,412.04M	2,707.52M	4,172.05M	3,726.09M	-2,018.79M	-428.36M	2,524.17M	1,802.50M	764.15M	539.00M	438.13M	-41.26M	-1,101.24M	-1,453.47M	-853.24M	-324.58M	-950.90M	-1,100.44M	-382.16M	-455.05M	-355.82M	-258.04M	-24.14M	21.21M
(-) Net Interest Income After Taxes	-107.96M	444.69M	-572.93M	-466.01M	-340.22M	-258.96M	-273.82M	-564.18M	-351.74M	-261.85M	-229.25M	-92.57M	-95.32M	-5.22M	-27.95M	-296.58M	-240.51M	-256.04M	-293.44M	-243.76M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	-3,113.00M	3,231.00M	-2,471.00M	1,800.00M	-1,258.00M	531.00M	1,088.00M	-2,720.00M	387.00M	1,794.00M	493.00M	926.00M	2,631.00M	1,782.00M	686.00M	4,370.00M	402.00M	498.43M	403.88M	1,067.93M	602.41M	1,848.00M	262.67M	528.70M	300.86M	11.78M	33.75M
Levered Free Cash Flow	295.42M	9,133.18M	1,616.84M	4,678.05M	1,789.74M	4,962.01M	5,087.91M	-4,174.60M	310.38M	4,580.02M	2,524.75M	1,782.72M	3,265.32M	2,225.35M	672.70M	3,565.34M	-810.96M	-98.77M	372.73M	360.79M	-498.03M	1,465.84M	-192.38M	172.88M	42.82M	-12.36M	54.96M