Hancock Whitney Corporation - 6 (HWCPZ)

Industry: Banks - Regional Sector: Financial Services Currency Used: US Live Price: $23.97

Enterprise Value

Metric	MRQ	MRQ-1	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Stock Price	62.61	57.40	57.49	49.52	40.09	47.67	45.90	23.39	40.95	44.97	48.13	31.15	28.50	33.68	32.31	32.21	30.65	35.03	36.29	44.44	40.30	52.23	34.71	31.32	24.22	21.11	14.10	11.17	14.14	17.40	16.63	11.54
Market Capitalization	5,350.21M	4,948.05M	4,944.40M	4,281.12M	3,480.44M	4,157.46M	4,065.57M	2,026.25M	3,540.28M	3,904.58M	4,167.68M	2,478.43M	2,285.58M	2,818.16M	2,682.22M	2,729.89M	1,976.61M	1,291.86M	1,195.25M	1,399.72M	1,289.97M	1,698.76M	1,123.00M	1,011.52M	754.09M	663.55M	452.19M	363.02M	459.90M	558.50M	540.75M	355.33M
(-) Cash & Equivalents	514.58M	1,116.74M	994.24M	1,203.46M	1,666.47M	1,764.65M	3,343.46M	1,442.55M	524.27M	428.79M	448.22M	453.99M	788.19M	878.98M	776.14M	1,271.93M	1,217.97M	657.39M	352.85M	195.21M	185.46M	223.79M	199.15M	168.53M	179.71M	167.08M	151.64M	145.82M	145.71M	132.03M	127.55M	140.05M
(+) Total Debt	2,106.57M	1,383.30M	1,452.51M	1,332.91M	2,294.91M	1,774.80M	2,051.95M	2,477.90M	2,326.96M	2,159.85M	2,235.88M	1,584.13M	1,580.95M	1,401.37M	1,133.23M	1,124.07M	1,093.82M	500.74M	538.05M	571.84M	250.46M	285.24M	276.28M	261.27M	233.67M	222.34M	188.49M	164.35M	197.40M	156.70M	124.43M	85.30M
Enterprise Value	6,942.20M	5,214.62M	5,402.66M	4,410.58M	4,108.89M	4,167.62M	2,774.07M	3,061.60M	5,342.97M	5,635.64M	5,955.34M	3,608.57M	3,078.33M	3,340.55M	3,039.31M	2,582.03M	1,852.46M	1,135.22M	1,380.44M	1,776.35M	1,354.97M	1,760.21M	1,200.13M	1,104.26M	808.05M	718.82M	489.04M	381.55M	511.59M	583.18M	537.62M	300.58M

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	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	2,008M	1,991M	2,049M	1,890M	1,465M	1,345M	1,382M	1,442M	1,289M	1,161M	981M	923M	933M	971M	1,011M	782M	485M	481M	463M	464M	448M	362M	317M	293M	302M	289M	269M	253M	226M	214M	198M	186M
Cost of Revenue	571M	685M	663M	582M	59M	-28M	718M	278M	216M	167M	184M	128M	72M	74M	106M	110M	148M	150M	163M	148M	99M	117M	74M	73M	91M	110M	106M	92M	88M	78M	71M	66M
Gross Profit	1,437M	1,306M	1,386M	1,308M	1,407M	1,374M	664M	1,163M	1,073M	994M	797M	795M	861M	896M	905M	672M	336M	331M	300M	316M	349M	244M	243M	220M	212M	179M	164M	162M	138M	136M	127M	120M
Gross Profit Margin	71.6%	65.6%	67.6%	69.2%	96.0%	102.1%	48.0%	80.7%	83.3%	85.6%	81.3%	86.2%	92.3%	92.4%	89.5%	86.0%	69.4%	68.8%	64.9%	68.1%	77.9%	67.5%	76.7%	75.0%	70.1%	61.8%	60.7%	63.9%	61.1%	63.4%	64.1%	64.7%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	462M	518M	489M	511M	460M	482M	471M	552M	515M	496M	444M	438M	425M	457M	478M	390M	199M	121M	110M	114M	110M	99M	86M	81M	77M	68M	59M	62M	51M	47M	42M	41M
Operating Expenses	832M	821M	812M	817M	748M	806M	789M	771M	691M	685M	610M	625M	619M	681M	708M	577M	274M	233M	213M	214M	201M	172M	155M	140M	138M	122M	110M	115M	94M	88M	80M	80M
Operating Income (EBIT)	605M	486M	574M	490M	659M	568M	-125M	393M	382M	308M	187M	170M	242M	216M	197M	95M	62M	98M	87M	102M	148M	73M	88M	80M	74M	57M	54M	46M	44M	48M	47M	40M
Operating Income Margin	30.1%	24.4%	28.0%	25.9%	45.0%	42.2%	-9.0%	27.2%	29.7%	26.6%	19.1%	18.4%	26.0%	22.2%	19.5%	12.1%	12.8%	20.3%	18.8%	21.9%	33.1%	20.1%	27.8%	27.2%	24.3%	19.7%	19.9%	18.3%	19.6%	22.5%	23.7%	21.6%
Interest Income	1,494M	1,705M	1,693M	1,620M	1,137M	982M	1,058M	1,126M	1,028M	901M	732M	680M	693M	722M	763M	592M	353M	324M	335M	346M	344M	264M	227M	218M	231M	235M	217M	208M	194M	182M	169M	162M
Interest Expense	523M	628M	611M	523M	87M	49M	115M	231M	179M	108M	73M	54M	38M	41M	52M	71M	82M	95M	126M	140M	120M	75M	57M	58M	72M	101M	94M	84M	82M	72M	65M	61M
Net Interest Income	971M	1,078M	1,082M	1,098M	1,050M	933M	943M	895M	849M	792M	659M	625M	655M	681M	711M	521M	270M	228M	209M	206M	224M	189M	170M	160M	159M	134M	123M	124M	112M	110M	105M	100M
Unusual Items	-971M	-1,078M	-1,082M	-1,098M	-1,050M	-933M	-943M	-895M	-849M	-792M	-659M	-625M	-655M	-681M	-711M	-521M	-270M	-228M	-209M	-206M	-224M	-189M	-170M	-160M	-159M	-134M	-123M	-124M	-112M	-110M	-105M	-100M
EBT Excluding Unusual Items	1,576M	1,564M	1,656M	1,588M	1,709M	1,501M	818M	1,288M	1,231M	1,101M	846M	795M	897M	897M	908M	616M	332M	326M	296M	307M	373M	262M	258M	240M	232M	191M	176M	170M	156M	158M	151M	141M
Pre-Tax Income	605M	486M	574M	490M	659M	568M	-125M	393M	382M	308M	187M	170M	242M	216M	197M	95M	62M	98M	87M	102M	148M	73M	88M	80M	74M	57M	54M	46M	44M	48M	47M	40M
Pre-Tax Margin	30.1%	24.4%	28.0%	25.9%	45.0%	42.2%	-9.0%	27.2%	29.7%	26.6%	19.1%	18.4%	26.0%	22.2%	19.5%	12.1%	12.8%	20.3%	18.8%	21.9%	33.1%	20.1%	27.8%	27.2%	24.3%	19.7%	19.9%	18.3%	19.6%	22.5%	23.7%	21.6%
Income Tax Expense	122M	96M	113M	98M	135M	105M	-80M	65M	58M	93M	38M	38M	66M	53M	46M	18M	10M	23M	22M	28M	47M	19M	27M	25M	23M	18M	17M	15M	14M	17M	15M	13M
Net Income	483M	389M	461M	393M	524M	463M	-45M	327M	324M	216M	149M	131M	176M	163M	152M	77M	52M	75M	65M	74M	102M	54M	62M	55M	51M	39M	37M	32M	31M	31M	32M	27M
Net Income Margin	24.0%	19.6%	22.5%	20.8%	35.8%	34.4%	-3.3%	22.7%	25.1%	18.6%	15.2%	14.2%	18.8%	16.8%	15.0%	9.8%	10.8%	15.5%	14.1%	15.9%	22.7%	14.9%	19.5%	18.8%	16.9%	13.6%	13.7%	12.5%	13.7%	14.3%	16.0%	14.5%
Depreciation & Amortization	38M	43M	42M	46M	46M	46M	50M	52M	49M	51M	48M	53M	57M	62M	65M	41M	16M	17M	17M	16M	2M	12M	17M	22M	10M	13M	12M	8M	8M	7M	7M	7M
EBITDA	642M	529M	616M	536M	705M	614M	-75M	444M	431M	359M	235M	223M	299M	278M	262M	136M	78M	115M	104M	118M	150M	85M	105M	102M	83M	70M	66M	54M	52M	55M	54M	47M
EBITDA Margin	32.0%	26.6%	30.0%	28.4%	48.1%	45.6%	-5.4%	30.8%	33.4%	30.9%	24.0%	24.1%	32.1%	28.6%	25.9%	17.4%	16.1%	23.9%	22.5%	25.4%	33.5%	23.4%	33.1%	34.8%	27.5%	24.2%	24.4%	21.3%	22.9%	25.7%	27.2%	25.3%
NOPAT	483M	389M	461M	393M	524M	463M	-99M	327M	324M	216M	149M	131M	176M	163M	152M	77M	52M	75M	65M	74M	102M	54M	62M	55M	51M	39M	37M	32M	30M	31M	32M	27M
NOPAT Margin	24.0%	19.6%	22.5%	20.8%	35.8%	34.4%	-7.1%	22.7%	25.1%	18.6%	15.2%	14.2%	18.8%	16.8%	15.0%	9.8%	10.8%	15.5%	14.1%	15.9%	22.7%	14.9%	19.5%	18.8%	16.9%	13.6%	13.7%	12.5%	13.2%	14.3%	16.0%	14.5%
Owner's Earnings	506M	424M	492M	414M	541M	485M	-33M	336M	322M	246M	178M	161M	212M	193M	174M	45M	47M	80M	59M	20M	33M	51M	69M	68M	50M	40M	44M	31M	26M	32M	34M	30M
Owner's Earnings Margin	25.2%	21.3%	24.0%	21.9%	36.9%	36.1%	-2.4%	23.3%	25.0%	21.2%	18.2%	17.4%	22.8%	19.9%	17.2%	5.7%	9.6%	16.5%	12.7%	4.3%	7.3%	14.0%	21.8%	23.3%	16.4%	13.7%	16.2%	12.1%	11.5%	15.2%	17.0%	16.3%
EPS (Basic)	5.60	4.47	5.30	4.51	6.00	5.23	-0.54	3.72	3.72	2.49	1.87	1.64	2.10	1.93	1.77	1.16	1.41	2.28	2.07	2.31	3.13	1.67	1.91	1.71	1.54	1.18	1.13	0.97	0.97	0.94	1.03	0.88
EPS (Diluted)	5.60	4.49	5.32	4.54	6.00	5.23	-0.52	3.78	3.79	2.49	1.87	1.64	2.10	1.96	1.77	1.16	1.41	2.27	2.05	2.27	3.06	1.64	1.87	1.73	1.58	1.22	1.13	0.97	0.96	0.94	1.03	0.88
Shares (Basic)	86M	86M	86M	86M	87M	89M	87M	86M	85M	87M	80M	80M	84M	83M	85M	66M	37M	33M	31M	32M	33M	32M	32M	31M	32M	32M	33M	33M	32M	33M	31M	31M
Shares (Diluted)	86M	87M	87M	86M	87M	89M	87M	87M	86M	87M	80M	80M	84M	83M	86M	66M	37M	33M	32M	33M	33M	33M	33M	32M	32M	32M	33M	33M	32M	33M	31M	31M

Product Segments

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31
Credit And Debit Card	—	64.20M	—	—	84.59M	79.07M	68.13M	66.98M
Credit and Debit Card	128.03M	62.26M	85.49M	82.97M	—	—	—	—
Deposit Account	135.02M	107.09M	91.11M	86.02M	87.66M	81.03M	76.66M	86.36M
Fiduciary And Trust	—	49.85M	—	—	65.13M	62.90M	58.19M	61.61M
Fiduciary and Trust	107.05M	50.72M	71.73M	67.57M	—	—	—	—
Investment Advisory Management And Administrative Service	—	21.33M	—	—	28.75M	29.50M	24.33M	26.57M
Investment Advisory, Management and Administrative Service	64.30M	25.63M	43.42M	36.71M	—	—	—	—
Mortgage Banking	18.00M	11.57M	12.37M	9.16M	11.52M	36.69M	40.24M	19.85M

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	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Cash & Cash Equivalents	514.58M	1,116.74M	1,514.22M	1,187.85M	887.79M	4,231.38M	1,859.66M	542.07M	493.95M	479.11M	449.92M	868.55M	1,158.03M	615.68M	1,947.48M	1,622.17M	503.75M	786.80M	211.13M	191.18M	200.31M	278.36M	163.92M	183.64M	192.06M	173.24M	134.26M	156.84M	161.40M	115.20M	122.40M	125.90M
Short-Term Investments	5,793.67M	5,636.68M	5,161.49M	4,915.20M	5,556.04M	6,986.70M	5,999.33M	4,675.30M	2,691.04M	2,910.87M	2,516.91M	2,093.40M	1,660.17M	1,421.77M	2,048.44M	4,496.90M	274.97M	214.77M	362.90M	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
Cash & Short-Term Investments	6,308.25M	6,753.41M	6,675.71M	6,103.04M	6,443.83M	11,218.08M	7,858.99M	5,217.37M	3,184.99M	3,389.97M	2,966.83M	2,961.95M	2,818.20M	2,037.45M	3,995.92M	6,119.07M	778.73M	1,001.57M	574.03M	191.18M	200.31M	278.36M	163.92M	183.64M	192.06M	173.24M	134.26M	156.84M	161.40M	115.20M	122.40M	125.90M
Net Receivables	142.03M	142.65M	162.44M	214.94M	166.89M	225.03M	205.57M	123.22M	86.68M	82.19M	82.11M	83.94M	107.77M	156.81M	223.46M	285.06M	359.29M	361.07M	33.07M	69.94M	71.03M	84.50M	80.54M	23.13M	25.48M	27.86M	25.59M	23.81M	23.80M	21.00M	20.20M	19.40M
Inventory	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	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	-5,538.96M	0.00M	0.00M	0.00M	-44.63M	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
Total Current Assets	911.31M	6,896.06M	6,838.15M	6,317.98M	6,566.09M	11,443.11M	8,064.55M	5,340.59M	3,271.67M	3,472.17M	3,048.94M	3,045.89M	2,925.97M	2,194.26M	4,219.38M	6,404.13M	1,138.02M	1,362.64M	607.09M	261.12M	271.34M	362.86M	244.46M	206.76M	217.54M	201.10M	159.84M	180.64M	185.20M	136.20M	142.60M	145.30M
Property, Plant & Equipment	0.00M	371.43M	378.59M	407.44M	425.49M	452.55M	491.21M	490.23M	353.67M	333.66M	361.61M	377.02M	398.38M	432.35M	477.86M	505.39M	209.92M	203.13M	205.91M	200.57M	140.55M	79.39M	79.85M	73.33M	71.36M	66.27M	53.13M	55.01M	46.80M	45.20M	40.40M	38.70M
Goodwill	925.40M	855.45M	855.45M	855.45M	855.45M	855.45M	855.45M	855.45M	790.97M	745.52M	621.19M	621.19M	621.19M	625.68M	628.88M	651.16M	61.63M	62.28M	62.28M	62.28M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	69.69M	142.34M	35.22M	44.64M	56.19M	70.23M	86.89M	106.81M	96.15M	90.64M	87.76M	107.54M	132.81M	159.77M	189.41M	211.08M	13.50M	16.55M	6.36M	8.30M	71.03M	84.50M	80.54M	23.13M	25.48M	27.86M	25.59M	23.81M	23.80M	21.00M	0.00M	0.00M
Long-Term Investments	7,991.28M	25,410.66M	25,599.12M	26,505.89M	25,885.55M	22,609.70M	23,063.11M	22,781.33M	22,839.59M	21,804.23M	19,057.02M	17,912.96M	15,953.06M	14,827.06M	13,160.25M	11,124.52M	5,505.79M	5,659.21M	5,889.61M	5,048.59M	5,123.47M	4,873.89M	4,010.25M	3,689.94M	3,557.05M	3,228.42M	2,665.33M	2,664.53M	2,528.20M	2,279.60M	2,055.80M	1,865.90M
Tax Assets	0.00M	88.41M	146.57M	153.38M	211.42M	0.00M	0.00M	0.00M	22.97M	53.98M	104.44M	75.83M	74.34M	89.71M	128.39M	145.76M	6.54M	0.00M	5.82M	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 Non-Current Assets	-7,991.28M	1,386.88M	1,182.92M	1,248.55M	1,094.37M	1,061.38M	1,035.95M	986.17M	825.84M	807.87M	676.31M	675.63M	613.24M	615.21M	604.96M	663.00M	1,202.93M	1,393.28M	390.18M	475.13M	356.57M	561.85M	259.98M	123.09M	73.96M	130.15M	94.37M	47.18M	28.09M	48.40M	50.80M	184.40M
Other Assets	33,860.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	34,855.09M	28,255.16M	28,197.87M	29,215.36M	28,528.47M	25,049.31M	25,532.61M	25,219.99M	24,929.19M	23,835.91M	20,908.33M	19,770.16M	17,793.02M	16,749.77M	15,189.75M	13,300.91M	7,000.31M	7,334.44M	6,560.16M	5,794.86M	5,691.62M	5,599.63M	4,430.61M	3,909.49M	3,727.85M	3,452.69M	2,838.42M	2,790.52M	2,626.89M	2,394.20M	2,147.00M	2,089.00M
Total Assets	35,766.41M	35,151.22M	35,036.02M	35,533.34M	35,094.56M	36,492.41M	33,597.16M	30,560.58M	28,200.86M	27,308.07M	23,957.26M	22,816.05M	20,718.99M	18,944.03M	19,409.13M	19,705.03M	8,138.33M	8,697.08M	7,167.25M	6,055.98M	5,962.96M	5,962.49M	4,675.07M	4,116.25M	3,945.38M	3,653.80M	2,998.26M	2,971.17M	2,812.09M	2,530.40M	2,289.60M	2,234.30M
Accounts Payable	0.00M	17.31M	20.15M	45.00M	9.94M	3.10M	4.32M	10.20M	12.27M	8.68M	9.57M	6.61M	4.20M	4.35M	4.81M	8.28M	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
Short-Term Debt	1,891.52M	1,044.93M	639.02M	1,154.83M	1,871.27M	1,665.06M	1,667.51M	2,714.87M	1,589.13M	1,703.89M	1,225.41M	1,423.64M	1,151.57M	657.96M	639.13M	1,044.45M	364.68M	484.71M	505.93M	375.70M	222.39M	252.28M	196.28M	159.50M	161.06M	161.33M	144.56M	263.77M	140.20M	170.50M	87.60M	66.60M
Tax Payables	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	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	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	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	0.00M	-17.31M	29,492.85M	29,690.06M	29,070.35M	30,465.90M	27,697.88M	23,803.58M	23,150.19M	22,253.20M	19,424.27M	18,348.91M	16,572.83M	15,360.52M	15,744.19M	15,713.58M	6,775.72M	7,195.81M	5,930.94M	5,009.53M	5,030.99M	4,989.82M	3,797.95M	3,447.85M	3,301.50M	3,039.73M	2,503.79M	2,397.65M	2,374.60M	2,062.60M	1,926.60M	1,927.60M
Total Current Liabilities	1,891.52M	1,044.93M	30,152.01M	30,889.89M	30,951.56M	32,134.06M	29,369.71M	26,528.65M	24,751.58M	23,965.77M	20,659.25M	19,779.17M	17,728.61M	16,022.83M	16,388.14M	16,766.32M	7,140.40M	7,680.52M	6,436.87M	5,385.24M	5,253.38M	5,242.10M	3,994.22M	3,607.34M	3,462.56M	3,201.07M	2,648.35M	2,661.43M	2,514.80M	2,233.10M	2,014.20M	1,994.20M
Long-Term Debt	210.66M	210.62M	210.54M	236.32M	242.08M	244.22M	378.32M	233.46M	224.99M	305.51M	436.28M	490.15M	374.37M	385.83M	396.59M	353.89M	10.55M	31.48M	0.64M	0.79M	0.26M	50.27M	50.27M	50.43M	51.02M	51.61M	2.18M	2.71M	0.00M	1.30M	1.10M	2.00M
Capital Lease Obligations	0.00M	127.76M	117.82M	125.62M	116.42M	122.08M	130.63M	127.70M	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
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	19.43M	49.41M	37.72M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	7.12M	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 Non-Current Liabilities	29,189.75M	29,591.69M	473.77M	523.09M	531.14M	341.06M	271.52M	205.54M	177.99M	179.85M	160.01M	151.15M	171.89M	175.53M	226.48M	286.73M	130.84M	140.31M	120.25M	115.76M	152.52M	180.40M	155.65M	57.71M	34.99M	22.56M	21.51M	17.31M	13.09M	15.00M	12.40M	13.90M
Total Non-Current Liabilities	29,400.41M	29,930.06M	802.14M	885.02M	889.64M	726.79M	829.87M	604.43M	402.99M	485.37M	596.29M	641.30M	546.26M	561.35M	623.07M	640.62M	141.38M	178.90M	120.89M	116.55M	152.77M	230.67M	205.92M	108.13M	86.01M	74.16M	23.69M	20.02M	13.09M	16.30M	13.50M	15.90M
Total Liabilities	31,291.93M	30,974.99M	30,954.15M	31,774.91M	31,841.20M	32,860.85M	30,199.58M	27,133.07M	25,154.57M	24,451.14M	21,255.53M	20,420.46M	18,274.86M	16,584.18M	17,011.21M	17,406.93M	7,281.78M	7,859.42M	6,557.76M	5,501.79M	5,406.16M	5,472.77M	4,200.14M	3,715.48M	3,548.57M	3,275.23M	2,672.04M	2,681.45M	2,527.89M	2,249.40M	2,027.70M	2,010.10M
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	37.07M	37.07M	37.07M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	1,943.19M	309.51M	309.51M	309.51M	309.51M	309.51M	309.51M	309.51M	292.72M	292.72M	291.36M	291.35M	267.82M	273.85M	282.54M	282.07M	122.86M	122.68M	105.79M	104.21M	108.78M	107.56M	108.02M	55.31M	55.31M	36.87M	36.87M	36.87M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	2,947.75M	2,859.04M	2,704.61M	2,375.60M	2,088.41M	1,659.07M	1,291.51M	1,476.23M	1,243.59M	1,008.52M	850.69M	777.94M	723.50M	628.17M	546.02M	476.97M	470.83M	454.34M	411.58M	377.48M	334.55M	265.04M	234.42M	247.00M	176.77M	141.10M	115.37M	92.15M	71.50M	51.40M	31.80M	63.80M
Accumulated OCI	-416.46M	-469.83M	-606.09M	-621.13M	-772.18M	-53.94M	80.07M	-54.72M	-180.71M	-134.40M	-120.53M	-80.60M	-50.07M	-35.38M	-22.93M	-26.51M	-0.62M	3.00M	-9.08M	-14.63M	-24.01M	-24.41M	-12.77M	-7.26M	9.50M	4.31M	-2.31M	-14.57M	0.20M	0.10M	-0.60M	0.30M
Minority Interest	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	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	4,474.48M	2,698.72M	2,408.03M	2,063.99M	1,625.74M	1,914.65M	1,681.09M	1,731.02M	1,355.60M	1,166.83M	1,021.52M	988.70M	941.24M	866.64M	805.64M	732.53M	593.06M	580.02M	508.29M	467.07M	419.31M	348.19M	329.68M	332.11M	278.64M	219.35M	149.93M	114.45M	71.70M	51.50M	31.20M	64.10M
Total Equity	4,474.48M	2,698.72M	2,408.03M	2,063.99M	1,625.74M	1,914.65M	1,681.09M	1,731.02M	1,355.60M	1,166.83M	1,021.52M	988.70M	941.24M	866.64M	805.64M	732.53M	593.06M	580.02M	508.29M	467.07M	419.31M	348.19M	329.68M	332.11M	278.64M	219.35M	149.93M	114.45M	71.70M	51.50M	31.20M	64.10M
Total Liabilities & Equity	35,766.41M	33,673.71M	33,362.18M	33,838.90M	33,466.94M	34,775.50M	31,880.67M	28,864.09M	26,510.17M	25,617.97M	22,277.05M	21,409.16M	19,216.11M	17,450.82M	17,816.85M	18,139.46M	7,874.84M	8,439.44M	7,066.04M	5,968.86M	5,825.47M	5,820.97M	4,529.82M	4,047.59M	3,827.21M	3,494.58M	2,821.97M	2,795.90M	2,599.59M	2,300.90M	2,058.90M	2,074.20M
Tangible Assets	34,771.31M	34,153.43M	34,145.35M	34,633.25M	34,182.92M	35,566.73M	32,654.81M	29,598.32M	27,313.74M	26,471.91M	23,248.31M	22,087.31M	19,964.99M	18,158.58M	18,590.84M	18,842.80M	8,063.20M	8,618.26M	7,098.61M	5,985.40M	5,891.93M	5,877.99M	4,594.53M	4,093.13M	3,919.90M	3,625.94M	2,972.67M	2,947.36M	2,788.29M	2,509.40M	2,289.60M	2,234.30M
Tangible Equity	3,479.38M	1,700.93M	1,517.35M	1,163.90M	714.10M	988.97M	738.74M	768.76M	468.48M	330.67M	312.57M	259.96M	187.24M	81.19M	-12.65M	-129.71M	517.94M	501.20M	439.65M	396.49M	348.29M	263.70M	249.14M	308.99M	253.16M	191.49M	124.35M	90.65M	47.90M	30.50M	31.20M	64.10M
Tangible Book Value	3,479.38M	1,700.93M	1,517.35M	1,163.90M	714.10M	988.97M	738.74M	768.76M	468.48M	330.67M	312.57M	259.96M	187.24M	81.19M	-12.65M	-129.71M	517.94M	501.20M	439.65M	396.49M	348.29M	263.70M	249.14M	308.99M	253.16M	191.49M	124.35M	90.65M	47.90M	30.50M	31.20M	64.10M
Total Investments	13,784.95M	31,047.33M	30,760.61M	31,421.09M	31,441.59M	29,596.40M	29,062.43M	27,456.63M	25,530.63M	24,715.10M	21,573.93M	20,006.36M	17,613.22M	16,248.83M	15,208.70M	15,621.42M	5,780.77M	5,873.98M	6,252.51M	5,048.59M	5,123.47M	4,873.89M	4,010.25M	3,689.94M	3,557.05M	3,228.42M	2,665.33M	2,664.53M	2,528.20M	2,279.60M	2,055.80M	1,865.90M
Net Debt	1,587.60M	138.81M	-664.66M	203.30M	1,225.56M	-2,322.10M	186.18M	2,406.27M	1,320.17M	1,530.30M	1,211.76M	1,045.24M	367.91M	428.11M	-911.75M	-223.83M	-128.53M	-270.61M	295.44M	185.32M	22.34M	24.19M	82.63M	26.29M	20.02M	39.70M	12.48M	109.65M	-21.20M	56.60M	-33.70M	-57.30M

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	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Working Capital	-980.2M	5,912.6M	-23,268.1M	-24,526.7M	-24,340.8M	-20,652.2M	-21,263.7M	-21,147.9M	-21,444.9M	-20,465.6M	-17,592.3M	-16,715.7M	-14,774.4M	-13,763.4M	-12,113.4M	-10,293.1M	-6,002.4M	-6,317.9M	-5,829.8M	-5,124.1M	-4,982.0M	-4,879.2M	-3,749.8M	-3,400.6M	-3,245.0M	-3,021.9M	-2,510.2M	-2,497.4M	-2,342.8M	-2,111.8M	-1,884.4M	-1,862.7M
Total Capital	6,581.0M	5,748.7M	5,095.0M	5,320.4M	5,572.4M	5,701.7M	5,615.5M	6,543.7M	4,895.5M	4,894.4M	4,381.5M	4,332.8M	3,998.3M	3,468.9M	3,489.0M	3,765.5M	1,231.8M	1,353.8M	1,116.1M	930.7M	781.1M	780.0M	711.1M	644.8M	636.7M	617.6M	488.1M	576.9M	426.8M	460.4M	350.6M	292.8M
Capital Employed	33,874.9M	34,167.7M	4,929.8M	4,688.7M	4,232.3M	4,397.1M	4,268.9M	4,072.1M	3,484.3M	3,370.3M	3,316.1M	3,060.3M	3,018.7M	2,986.4M	3,076.4M	3,007.8M	997.9M	1,016.6M	730.4M	670.7M	711.2M	708.1M	670.5M	543.0M	510.6M	456.8M	343.4M	313.9M	286.7M	290.0M	262.6M	226.3M
Invested Capital	6,066.5M	4,632.0M	3,580.8M	4,132.6M	4,684.6M	1,470.3M	3,755.8M	6,001.7M	4,401.5M	4,415.2M	3,931.5M	3,464.2M	2,840.3M	2,853.2M	1,541.5M	2,143.3M	728.0M	567.1M	904.9M	739.5M	580.7M	501.6M	547.2M	461.2M	444.6M	444.3M	353.9M	420.1M	265.4M	345.2M	228.2M	166.9M

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	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Net Income	481.91M	388.90M	460.82M	392.60M	524.09M	463.22M	-45.17M	327.38M	323.77M	215.63M	149.30M	131.46M	175.72M	163.36M	151.74M	76.76M	52.21M	74.78M	65.37M	73.89M	101.80M	54.03M	61.70M	54.96M	51.04M	39.26M	36.82M	31.71M	29.80M	30.60M	31.60M	27.00M
Depreciation & Amortization	37.64M	42.95M	41.71M	46.28M	45.62M	45.78M	50.04M	51.75M	48.58M	50.56M	48.14M	52.95M	57.11M	61.70M	64.92M	41.16M	16.41M	17.14M	17.19M	16.04M	1.82M	11.64M	16.65M	22.40M	9.54M	12.79M	12.03M	7.69M	7.60M	7.00M	7.00M	6.80M
Deferred Income Tax	29.37M	15.36M	4.30M	13.99M	-22.17M	10.38M	-20.72M	47.10M	45.21M	49.83M	-7.84M	16.69M	23.54M	40.92M	32.47M	8.70M	-11.60M	-6.95M	-5.01M	7.56M	24.60M	-18.40M	-3.53M	0.15M	1.63M	1.46M	-0.28M	-2.04M	-0.40M	-0.40M	-0.80M	-0.80M
Stock-Based Compensation	23.94M	23.15M	22.70M	24.65M	23.49M	22.44M	21.11M	20.90M	19.79M	17.63M	14.27M	12.94M	13.96M	13.08M	11.02M	7.20M	4.08M	3.25M	2.81M	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
Change in Working Capital	-71.40M	-51.49M	40.05M	-96.11M	302.08M	80.14M	-283.49M	-68.24M	-19.07M	-10.56M	5.80M	-103.21M	7.34M	37.59M	-42.23M	-115.26M	62.28M	-83.77M	-13.86M	-48.68M	-34.08M	-2.92M	70.84M	1.05M	-1.29M	-1.89M	1.25M	5.10M	-2.00M	-0.30M	-0.30M	0.80M
Accounts Receivable	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	8.61M	5.67M	6.41M	5.72M	-9.12M	-45.28M	-65.50M	-5.28M	5.99M	10.11M	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
Inventory	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	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	-74.60M	21.29M	-16.83M	48.71M	6.84M	20.87M	4.69M	19.57M	-8.37M	2.31M	10.32M	-4.72M	-15.24M	29.55M	-58.29M	-99.99M	-12.41M	-3.28M	-2.79M	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	3.20M	-72.78M	56.88M	-144.82M	295.24M	59.27M	-288.17M	-87.81M	-10.70M	-21.48M	-10.18M	-104.89M	16.85M	17.16M	61.34M	50.23M	79.96M	-86.49M	-21.18M	-48.68M	-34.08M	-2.92M	70.84M	1.05M	-1.29M	-1.89M	1.25M	5.10M	-2.00M	-0.30M	-0.30M	0.80M
Other Non-Cash Items	78.88M	108.16M	56.16M	113.84M	-31.09M	-36.26M	633.42M	-26.94M	30.90M	87.99M	134.25M	124.04M	74.07M	156.89M	225.53M	254.49M	71.59M	13.70M	27.87M	5.41M	-19.22M	26.15M	7.51M	7.48M	23.38M	2.15M	10.27M	3.79M	-1.60M	7.30M	5.50M	5.30M
Net Cash from Operating Activities	580.33M	527.03M	625.74M	495.25M	842.02M	585.69M	355.19M	351.95M	449.18M	411.09M	340.74M	235.73M	352.43M	473.53M	443.03M	273.05M	194.80M	18.14M	94.37M	54.22M	74.92M	70.50M	153.18M	86.04M	84.29M	53.75M	60.09M	46.25M	33.40M	44.20M	43.00M	39.10M
Capital Expenditures (PPE)	-14.32M	-7.95M	-10.24M	-25.03M	-29.15M	-23.54M	-37.87M	-42.72M	-50.66M	-20.30M	-19.27M	-23.80M	-20.45M	-32.03M	-42.98M	-72.98M	-21.90M	-12.31M	-23.62M	-69.77M	-71.10M	-14.90M	-9.25M	-9.17M	-10.86M	-12.45M	-5.13M	-8.69M	-12.70M	-5.20M	-5.00M	-3.50M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	26.95M	219.42M	476.61M	0.00M	0.00M	0.00M	0.00M	0.00M	-189.38M	0.00M	378.37M	0.00M	0.00M	0.00M	-3.92M	-29.38M	0.00M	0.00M	-0.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-1,070.78M	-1,538.71M	-1,076.63M	-1,356.95M	-1,520.02M	-5,362.21M	-3,616.40M	-1,194.43M	-1,024.46M	-1,605.74M	-1,635.53M	-2,072.96M	-1,047.23M	-1,556.26M	-846.15M	-1,732.76M	-489.84M	-2,007.99M	-1,503.80M	-1,038.18M	-1,169.59M	-1,623.43M	-891.87M	-1,246.44M	-804.45M	-805.04M	-175.51M	-410.21M	-475.10M	-475.20M	-409.30M	-460.30M
Sales / Maturities of Investments	1,203.71M	2,083.88M	693.09M	1,972.87M	4,321.17M	1,388.35M	1,431.84M	1,261.87M	1,184.47M	1,276.90M	1,494.36M	1,627.57M	728.00M	2,327.33M	1,561.86M	1,341.59M	603.10M	2,249.27M	1,152.75M	1,375.89M	1,434.10M	707.50M	734.13M	1,458.76M	757.52M	588.31M	293.07M	562.02M	344.10M	292.90M	544.60M	402.80M
Other Investing Activities	-792.39M	619.02M	668.53M	-886.11M	-2,109.65M	772.82M	-955.05M	-510.69M	-1,175.67M	-1,022.79M	-1,160.59M	-1,807.25M	-1,570.78M	-743.54M	-690.47M	352.50M	243.01M	-353.65M	-736.43M	-373.40M	-291.02M	-237.02M	-315.47M	-375.95M	-228.16M	13.79M	-166.68M	-110.97M	-88.20M	-9.40M	-106.80M	-30.90M
Net Cash from Investing Activities	-673.78M	1,156.23M	274.76M	-295.21M	662.36M	-3,224.58M	-3,177.47M	-459.02M	-846.90M	-895.32M	-1,321.03M	-2,276.43M	-1,910.46M	-4.50M	-17.73M	-301.02M	334.38M	253.70M	-1,111.10M	-105.46M	-97.62M	-1,171.77M	-511.84M	-172.80M	-285.95M	-215.44M	-54.26M	32.15M	-231.90M	-196.90M	23.50M	-91.90M
Net Debt Issuance	625.58M	-159.98M	-515.81M	-716.44M	211.36M	-133.51M	-881.24M	1,065.37M	-184.37M	-322.10M	-212.67M	387.70M	479.25M	8.06M	-364.69M	247.03M	-140.33M	-85.67M	-0.16M	153.85M	-50.01M	56.00M	36.63M	-2.15M	-0.86M	-3.80M	-119.75M	123.10M	-31.60M	81.80M	20.00M	-0.90M
Long-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	5.15M	-131.06M	166.12M	6.62M	-69.61M	-203.95M	-14.43M	115.63M	-14.36M	-10.76M	40.63M	133.68M	-0.30M	-0.17M	-0.16M	0.54M	-50.01M	-0.01M	-0.16M	-0.59M	-0.59M	-20.57M	-0.54M	-0.47M	-1.30M	-1.10M	-1.00M	-0.90M
Short-Term Debt Issuance	625.58M	-159.98M	-515.81M	-716.44M	206.21M	-2.45M	-1,047.36M	1,058.75M	-114.76M	-118.15M	-198.24M	272.07M	493.61M	18.83M	-405.32M	113.35M	-140.03M	-85.50M	0.00M	153.31M	0.00M	56.00M	36.78M	-1.56M	-0.28M	16.77M	-119.21M	123.57M	-30.30M	82.90M	21.00M	0.00M
Net Stock Issuance	-103.74M	-25.76M	-33.57M	3.82M	-55.09M	-17.43M	-0.61M	-180.84M	-3.63M	15.31M	261.45M	-95.27M	-45.13M	-112.27M	2.01M	215.02M	1.62M	169.59M	8.35M	-58.04M	6.25M	-7.88M	-8.92M	-11.69M	-20.89M	-6.19M	-4.95M	-11.48M	-22.90M	0.00M	0.00M	0.00M
Common Stock Issuance	4.38M	4.05M	4.12M	3.82M	3.80M	4.36M	12.11M	4.16M	4.64M	15.31M	261.45M	0.35M	2.49M	2.73M	2.01M	215.02M	1.62M	169.59M	8.61M	2.40M	8.00M	1.67M	2.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-108.12M	-29.81M	-37.69M	0.00M	-58.89M	-21.80M	-12.72M	-185.00M	-8.27M	0.00M	0.00M	-95.61M	-47.62M	-115.00M	0.00M	0.00M	0.00M	0.00M	-0.26M	-60.45M	-1.75M	-9.55M	-10.97M	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	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	0.00M	0.00M
Net Dividends Paid	-151.28M	-122.32M	-130.84M	-104.70M	-94.46M	-95.93M	-95.61M	-94.87M	-88.84M	-83.27M	-76.55M	-77.01M	-80.39M	-81.21M	-82.69M	-70.62M	-35.72M	-32.01M	-30.45M	-30.96M	-29.31M	-23.42M	-18.98M	-16.21M	-15.38M	-13.52M	-13.61M	-11.06M	-10.90M	-11.00M	-9.20M	-8.70M
Common Dividends Paid	-151.28M	-122.32M	-130.84M	-104.70M	-94.46M	-95.93M	-95.61M	-94.87M	-88.84M	-83.27M	-76.55M	-77.01M	-80.39M	-81.21M	-82.69M	-70.62M	-35.72M	-32.01M	-30.45M	-30.96M	-29.31M	-23.42M	-18.98M	-16.21M	-15.38M	-13.52M	-13.61M	-11.06M	-10.90M	-11.00M	-9.20M	-8.70M
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	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-332.39M	-1,346.67M	-206.57M	614.03M	-1,402.93M	2,760.66M	3,893.94M	-633.85M	670.97M	888.55M	1,075.37M	1,776.08M	1,212.32M	-383.67M	30.61M	-65.19M	-419.77M	-297.58M	925.92M	-21.11M	44.66M	1,191.88M	327.64M	107.11M	261.77M	219.63M	106.13M	-183.52M	312.00M	75.50M	-82.00M	66.20M
Net Cash from Financing Activities	38.16M	-1,654.73M	-886.79M	-203.30M	-1,341.12M	2,513.79M	2,916.48M	155.81M	394.14M	498.50M	1,047.59M	1,991.51M	1,566.05M	-569.09M	-414.76M	326.24M	-594.20M	-266.90M	1,033.89M	43.74M	-58.29M	1,216.58M	336.37M	77.06M	224.64M	196.11M	-32.18M	-82.95M	246.60M	146.30M	-71.20M	56.60M
Effect of FX on Cash	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	0.00M	0.00M	0.00M	-54.60M	0.00M
Net Change in Cash	-55.29M	28.53M	13.71M	-3.26M	163.26M	-125.11M	94.20M	48.73M	-3.58M	14.26M	68.82M	-52.58M	8.02M	-100.05M	10.54M	298.26M	-65.03M	4.94M	17.16M	-7.50M	-80.99M	115.31M	-22.29M	-9.70M	22.98M	34.43M	-26.35M	-4.56M	48.20M	-6.38M	-124.30M	-120.50M
Cash at Beginning of Period	2,167.64M	2,017.66M	561.20M	564.46M	401.20M	526.31M	432.10M	383.37M	386.95M	372.69M	303.87M	356.46M	348.44M	448.49M	437.95M	139.69M	204.71M	199.78M	182.62M	190.11M	271.10M	155.80M	178.08M	187.79M	164.81M	130.38M	156.74M	161.29M	113.10M	119.50M	124.30M	120.50M
Cash at End of Period	2,112.34M	2,046.19M	574.91M	561.20M	564.46M	401.20M	526.31M	432.10M	383.37M	386.95M	372.69M	303.87M	356.46M	348.44M	448.49M	437.95M	139.69M	204.71M	199.78M	182.62M	190.11M	271.10M	155.80M	178.08M	187.79M	164.81M	130.38M	156.74M	161.30M	113.13M	64.90M	177.10M
Operating Cash Flow	580.33M	527.03M	625.74M	495.25M	842.02M	585.69M	355.19M	351.95M	449.18M	411.09M	343.92M	235.73M	352.43M	473.53M	443.03M	273.05M	194.80M	18.14M	94.37M	54.22M	74.92M	70.50M	153.18M	86.04M	84.29M	53.75M	60.09M	46.25M	33.40M	44.20M	43.00M	39.10M
Capital Expenditure	-14.32M	-7.95M	-10.24M	-25.03M	-29.15M	-23.54M	-37.87M	-42.72M	-50.66M	-20.30M	-19.27M	-23.80M	-20.45M	-32.03M	-42.98M	-72.98M	-21.90M	-12.31M	-23.62M	-69.77M	-71.10M	-14.90M	-9.25M	-9.17M	-10.86M	-12.45M	-5.13M	-8.69M	-12.70M	-5.20M	-5.00M	-3.50M
Free Cash Flow	566.02M	519.08M	615.51M	470.22M	812.88M	562.15M	317.32M	309.23M	398.52M	390.79M	324.64M	211.93M	331.98M	441.50M	400.05M	200.07M	172.90M	5.84M	70.75M	-15.55M	3.82M	55.60M	143.93M	76.87M	73.43M	41.30M	54.95M	37.56M	20.70M	39.00M	38.00M	35.60M

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	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
EBITDA	1,012.21M	831.50M	939.01M	843.10M	992.79M	936.92M	243.35M	663.32M	606.51M	548.24M	401.19M	410.17M	493.23M	501.12M	492.83M	323.01M	153.05M	226.86M	207.85M	218.21M	240.48M	156.70M	173.50M	160.78M	144.07M	123.94M	116.46M	107.84M	94.80M	96.07M	91.40M	85.50M
(-) Tax Adjustment	204.30M	165.04M	185.12M	167.76M	203.48M	172.92M	85.17M	110.39M	92.61M	164.95M	80.76M	92.55M	135.36M	121.90M	113.90M	61.53M	23.99M	53.22M	51.66M	59.84M	75.45M	40.56M	52.25M	49.75M	44.11M	38.76M	36.63M	33.98M	30.89M	33.62M	29.69M	27.93M
(-) Change In Working Capital	-71.40M	-51.49M	40.05M	-96.11M	302.08M	80.14M	-283.49M	-68.24M	-19.07M	-10.56M	5.80M	-103.21M	7.34M	37.59M	-42.23M	-115.26M	62.28M	-83.77M	-13.86M	-48.68M	-34.08M	-2.92M	70.84M	1.05M	-1.29M	-1.89M	1.25M	5.10M	-2.00M	-0.30M	-0.30M	0.80M
(-) Capital Expenditure	-14.32M	-7.95M	-10.24M	-25.03M	-29.15M	-23.54M	-37.87M	-42.72M	-50.66M	-20.30M	-19.27M	-23.80M	-20.45M	-32.03M	-42.98M	-72.98M	-21.90M	-12.31M	-23.62M	-69.77M	-71.10M	-14.90M	-9.25M	-9.17M	-10.86M	-12.45M	-5.13M	-8.69M	-12.70M	-5.20M	-5.00M	-3.50M
Unlevered Free Cash Flow	864.99M	709.99M	703.60M	746.42M	458.09M	660.32M	403.79M	578.46M	482.31M	373.55M	295.36M	397.03M	330.08M	309.60M	378.18M	303.76M	44.89M	245.10M	146.43M	137.28M	128.01M	104.16M	41.15M	100.80M	90.39M	74.62M	73.45M	60.07M	53.21M	57.54M	57.01M	53.27M
(-) Net Interest Income After Taxes	775.31M	863.89M	868.62M	879.20M	834.80M	761.00M	612.64M	746.24M	719.23M	553.92M	526.44M	484.12M	475.02M	515.14M	546.57M	421.94M	227.86M	174.84M	157.38M	149.24M	154.04M	139.94M	118.45M	110.62M	110.13M	91.75M	84.11M	84.73M	75.44M	71.37M	70.63M	67.60M
Net Debt Issuance	625.58M	-159.98M	-515.81M	-716.44M	211.36M	-133.51M	-881.24M	1,065.37M	-184.37M	-322.10M	-212.67M	387.70M	479.25M	8.06M	-364.69M	247.03M	-140.33M	-85.67M	-0.16M	153.85M	-50.01M	56.00M	36.63M	-2.15M	-0.86M	-3.80M	-119.75M	123.10M	-31.60M	81.80M	20.00M	-0.90M
Levered Free Cash Flow	715.26M	-313.88M	-680.84M	-849.22M	-165.35M	-234.18M	-1,090.09M	897.59M	-421.29M	-502.47M	-443.75M	300.62M	334.31M	-197.47M	-533.08M	128.85M	-323.29M	-15.40M	-11.11M	141.88M	-76.04M	20.22M	-40.68M	-11.97M	-20.60M	-20.94M	-130.41M	98.44M	-53.83M	67.97M	6.39M	-15.23M