Reliance Steel & Aluminum Co. (RS)

Industry: Steel Sector: Basic Materials Currency Used: US Live Price: $324.03

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	280.83	313.90	294.49	292.90	267.56	182.52	151.96	101.08	101.76	82.62	78.70	74.42	58.37	68.51	71.16	55.16	47.53	44.50	37.63	48.72	54.05	39.99	23.89	19.27	11.40	12.57	12.19	10.92	11.21	11.47	8.64	7.25
Market Capitalization	14,738.52M	16,586.79M	15,550.24M	16,353.04M	15,603.31M	11,043.51M	9,604.25M	6,493.10M	6,804.60M	5,931.23M	5,744.71M	5,395.76M	4,333.94M	5,313.01M	5,464.06M	4,155.73M	3,553.25M	3,302.08M	2,763.99M	3,558.10M	4,060.86M	2,907.50M	1,574.47M	1,251.62M	727.21M	796.44M	690.24M	588.93M	624.58M	649.88M	423.54M	337.27M
(-) Cash & Equivalents	261.20M	239.50M	259.50M	479.60M	922.40M	717.40M	606.70M	417.48M	153.85M	127.50M	151.23M	125.78M	107.98M	108.50M	97.35M	95.45M	86.13M	89.77M	85.98M	70.56M	71.64M	31.02M	18.66M	7.25M	11.15M	6.23M	7.94M	4.46M	6.58M	2.80M	9.73M	4.08M
(+) Total Debt	1,688.60M	1,732.30M	1,726.97M	1,430.48M	1,370.63M	1,865.60M	1,854.95M	1,855.63M	2,051.80M	2,089.83M	1,992.33M	2,084.65M	2,148.58M	2,224.60M	1,936.53M	1,384.33M	1,252.28M	1,016.45M	1,185.26M	1,583.62M	1,237.47M	957.68M	387.71M	491.33M	408.62M	344.40M	407.88M	386.54M	348.48M	268.45M	154.55M	54.30M
Enterprise Value	16,165.92M	18,079.59M	17,017.71M	17,303.92M	16,051.53M	12,191.71M	10,852.50M	7,931.25M	8,702.55M	7,893.55M	7,585.81M	7,354.63M	6,374.54M	7,429.11M	7,303.23M	5,444.61M	4,719.40M	4,228.76M	3,863.27M	5,071.16M	5,226.69M	3,834.15M	1,943.51M	1,735.69M	1,124.69M	1,134.61M	1,090.17M	971.01M	966.48M	915.53M	568.36M	387.50M

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	13,922M	14,046M	13,835M	14,806M	17,025M	14,093M	8,812M	10,974M	11,535M	9,721M	8,613M	9,351M	10,452M	9,224M	8,442M	8,135M	6,313M	5,318M	8,719M	7,266M	5,748M	3,371M	2,947M	1,883M	1,748M	1,657M	1,727M	1,511M	1,353M	962M	654M	561M
Cost of Revenue	10,092M	10,065M	9,997M	10,504M	12,014M	9,833M	6,226M	7,864M	8,468M	7,152M	6,232M	7,022M	8,044M	7,019M	6,384M	6,282M	4,848M	4,037M	6,655M	5,498M	4,294M	2,496M	2,155M	1,372M	1,268M	1,195M	1,257M	1,097M	1,024M	738M	492M	432M
Gross Profit	3,830M	3,981M	3,838M	4,302M	5,011M	4,260M	2,586M	3,110M	3,066M	2,569M	2,381M	2,328M	2,407M	2,205M	2,058M	1,853M	1,464M	1,281M	2,064M	1,768M	1,455M	875M	792M	511M	480M	462M	470M	414M	329M	224M	162M	129M
Gross Profit Margin	27.5%	28.3%	27.7%	29.1%	29.4%	30.2%	29.3%	28.3%	26.6%	26.4%	27.6%	24.9%	23.0%	23.9%	24.4%	22.8%	23.2%	24.1%	23.7%	24.3%	25.3%	26.0%	26.9%	27.1%	27.5%	27.9%	27.2%	27.4%	24.3%	23.3%	24.7%	23.0%
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	2,761M	2,633M	2,662M	2,562M	2,503M	2,306M	1,862M	2,096M	2,108M	1,903M	1,804M	1,737M	1,767M	1,627M	1,396M	1,280M	1,104M	1,030M	1,211M	1,034M	821M	508M	484M	396M	379M	347M	319M	279M	220M	151M	110M	89M
Operating Expenses	2,831M	2,633M	2,662M	2,562M	2,503M	2,306M	1,862M	2,096M	2,108M	1,903M	1,804M	1,737M	1,767M	1,627M	1,396M	1,280M	1,104M	1,030M	1,211M	1,034M	821M	508M	484M	433M	408M	380M	347M	304M	240M	165M	118M	95M
Operating Income (EBIT)	999M	1,348M	1,176M	1,740M	2,508M	1,954M	724M	1,014M	958M	667M	577M	591M	641M	578M	662M	573M	361M	250M	853M	733M	633M	367M	308M	78M	72M	83M	123M	110M	89M	59M	44M	35M
Operating Income Margin	7.2%	9.6%	8.5%	11.7%	14.7%	13.9%	8.2%	9.2%	8.3%	6.9%	6.7%	6.3%	6.1%	6.3%	7.8%	7.0%	5.7%	4.7%	9.8%	10.1%	11.0%	10.9%	10.4%	4.1%	4.1%	5.0%	7.1%	7.2%	6.6%	6.2%	6.7%	6.2%
Interest Income	0M	0M	21M	35M	9M	0M	0M	0M	0M	0M	1M	1M	1M	1M	1M	40M	29M	41M	31M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	50M	40M	40M	40M	62M	148M	142M	159M	156M	140M	147M	142M	134M	125M	103M	100M	94M	99M	117M	79M	62M	25M	29M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-50M	-40M	-20M	-5M	-53M	-148M	-142M	-159M	-156M	-140M	-146M	-141M	-133M	-124M	-101M	-60M	-65M	-58M	-86M	-79M	-62M	-25M	-29M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	-1M	31M	-16M	6M	-25M	78M	-103M	74M	49M	58M	-2M	8M	39M	24M	49M	-1M	1M	3M	-1M	0M	0M	-9M	-9M	-23M	-22M	-23M	-20M	-13M	-9M	-1M	6M	4M
EBT Excluding Unusual Items	949M	1,308M	1,156M	1,735M	2,455M	1,806M	581M	855M	802M	526M	432M	451M	508M	454M	561M	513M	296M	192M	767M	655M	571M	342M	279M	78M	72M	83M	123M	110M	89M	59M	44M	35M
Pre-Tax Income	948M	1,340M	1,140M	1,741M	2,430M	1,883M	478M	929M	851M	584M	429M	459M	546M	478M	609M	512M	296M	195M	766M	654M	571M	333M	270M	55M	50M	60M	103M	96M	80M	58M	50M	39M
Pre-Tax Margin	6.8%	9.5%	8.2%	11.8%	14.3%	13.4%	5.4%	8.5%	7.4%	6.0%	5.0%	4.9%	5.2%	5.2%	7.2%	6.3%	4.7%	3.7%	8.8%	9.0%	9.9%	9.9%	9.2%	2.9%	2.8%	3.6%	5.9%	6.4%	5.9%	6.0%	7.6%	6.9%
Income Tax Expense	217M	294M	262M	401M	586M	466M	106M	223M	209M	-37M	120M	143M	170M	154M	201M	162M	99M	46M	283M	246M	217M	128M	100M	21M	20M	24M	40M	39M	33M	24M	20M	16M
Net Income	728M	1,043M	875M	1,336M	1,840M	1,413M	369M	702M	634M	613M	304M	312M	372M	322M	404M	344M	194M	148M	483M	408M	355M	205M	170M	34M	30M	36M	62M	58M	48M	34M	30M	23M
Net Income Margin	5.2%	7.4%	6.3%	9.0%	10.8%	10.0%	4.2%	6.4%	5.5%	6.3%	3.5%	3.3%	3.6%	3.5%	4.8%	4.2%	3.1%	2.8%	5.5%	5.6%	6.2%	6.1%	5.8%	1.8%	1.7%	2.2%	3.6%	3.8%	3.5%	3.6%	4.6%	4.0%
Depreciation & Amortization	280M	261M	269M	245M	240M	230M	227M	219M	215M	218M	222M	219M	214M	192M	149M	133M	121M	119M	98M	80M	62M	47M	45M	37M	29M	32M	28M	26M	19M	13M	9M	5M
EBITDA	1,278M	1,609M	1,445M	1,985M	2,749M	2,184M	951M	1,233M	1,173M	885M	799M	810M	854M	771M	811M	706M	481M	369M	951M	813M	696M	414M	352M	115M	101M	115M	151M	135M	108M	73M	52M	40M
EBITDA Margin	9.2%	11.5%	10.4%	13.4%	16.1%	15.5%	10.8%	11.2%	10.2%	9.1%	9.3%	8.7%	8.2%	8.4%	9.6%	8.7%	7.6%	6.9%	10.9%	11.2%	12.1%	12.3%	12.0%	6.1%	5.8%	6.9%	8.7%	8.9%	8.0%	7.6%	8.0%	7.1%
NOPAT	770M	1,052M	906M	1,339M	1,903M	1,471M	564M	770M	723M	709M	416M	408M	441M	393M	443M	391M	241M	191M	538M	457M	393M	226M	194M	48M	44M	50M	75M	65M	53M	35M	26M	20M
NOPAT Margin	5.5%	7.5%	6.5%	9.0%	11.2%	10.4%	6.4%	7.0%	6.3%	7.3%	4.8%	4.4%	4.2%	4.3%	5.3%	4.8%	3.8%	3.6%	6.2%	6.3%	6.8%	6.7%	6.6%	2.6%	2.5%	3.0%	4.3%	4.3%	3.9%	3.6%	4.0%	3.6%
Owner's Earnings	641M	874M	713M	1,113M	1,739M	1,407M	424M	679M	609M	670M	371M	358M	395M	346M	339M	321M	204M	197M	429M	364M	308M	198M	178M	50M	40M	44M	60M	-29M	-109M	-60M	17M	20M
Owner's Earnings Margin	4.6%	6.2%	5.2%	7.5%	10.2%	10.0%	4.8%	6.2%	5.3%	6.9%	4.3%	3.8%	3.8%	3.8%	4.0%	3.9%	3.2%	3.7%	4.9%	5.0%	5.4%	5.9%	6.1%	2.7%	2.3%	2.7%	3.5%	-1.9%	-8.1%	-6.2%	2.6%	3.6%
EPS (Basic)	13.76	18.38	15.70	22.90	30.39	22.35	5.74	10.49	8.85	8.42	4.21	4.20	4.78	4.19	5.36	4.60	2.62	2.02	6.60	5.39	4.85	3.12	2.62	0.54	0.48	0.64	1.15	1.04	0.85	0.73	0.65	0.49
EPS (Diluted)	13.62	18.25	15.56	22.64	29.92	21.97	5.66	10.34	8.75	8.34	4.16	4.16	4.73	4.14	5.33	4.58	2.61	2.01	6.56	5.36	4.82	3.10	2.60	0.53	0.47	0.64	1.14	1.03	0.84	0.71	0.64	0.48
Shares (Basic)	53M	57M	56M	58M	61M	63M	64M	67M	72M	73M	72M	74M	78M	77M	75M	75M	74M	73M	73M	76M	73M	66M	65M	64M	63M	57M	54M	55M	56M	47M	46M	47M
Shares (Diluted)	53M	57M	56M	59M	61M	64M	65M	68M	72M	74M	73M	75M	79M	78M	76M	75M	74M	74M	74M	76M	74M	66M	65M	64M	64M	57M	55M	56M	57M	48M	47M	47M

Product Segments

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
Alloy Steel	—	—	—	—	—	—	436.50M	652.10M	680.70M
Alloy steel	—	—	—	—	—	547.50M	—	—	—
Aluminum	2,381.20M	2,906.70M	2,294.40M	2,456.40M	2,658.70M	2,050.90M	1,687.60M	2,151.90M	2,210.90M
Carbon Steel	—	—	—	—	—	—	4,647.40M	5,792.90M	6,285.80M
Carbon steel	7,661.70M	9,696.90M	7,575.60M	8,071.80M	9,487.70M	8,532.00M	—	—	—
Other Products Or Services	—	—	—	—	—	—	217.30M	348.20M	305.70M
Other and eliminations	302.40M	410.60M	323.60M	320.90M	369.30M	—	—	—	—
Other.	—	—	—	—	—	225.20M	—	—	—
Stainless Steel	—	—	—	—	—	—	1,435.60M	1,578.00M	1,636.10M
Stainless steel	1,955.50M	2,671.00M	2,068.80M	2,336.70M	2,877.40M	2,267.00M	—	—	—
Toll Processing	—	—	—	—	—	—	387.50M	450.70M	415.30M
Toll processing	—	—	—	—	—	470.70M	—	—	—

Geographic Segments

Metric	TTM	TTM-1	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
Foreign Countries	—	—	1,019.10M	1,046.40M	721.60M	—	—	—	—	—	—	650.60M	541.60M	—	—
Non Us	—	—	—	—	—	631.20M	874.60M	896.10M	873.70M	746.10M	732.80M	—	—	—	—
Segment, Geographical, Groups of Countries, Group One	—	—	—	—	—	—	—	—	—	—	—	—	—	581.00M	487.30M
U	—	—	—	—	—	8,180.70M	10,099.20M	10,638.40M	8,847.30M	7,867.30M	8,617.70M	9,801.00M	—	—	—
UNITED STATES	—	—	—	—	—	—	—	—	—	—	—	—	8,682.20M	7,861.30M	7,647.40M
United States	—	—	13,786.80M	15,978.60M	13,371.70M	—	—	—	—	—	—	—	—	—	—

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	261.20M	239.50M	318.10M	1,080.20M	1,173.40M	300.50M	683.50M	174.30M	128.20M	154.40M	122.80M	104.30M	106.20M	83.60M	97.60M	84.60M	72.92M	43.00M	52.00M	77.02M	57.48M	35.02M	11.66M	2.17M	9.31M	9.93M	3.11M	9.90M	6.50M	34.00M	0.80M	18.00M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	261.20M	239.50M	318.10M	1,080.20M	1,173.40M	300.50M	683.50M	174.30M	128.20M	154.40M	122.80M	104.30M	106.20M	83.60M	97.60M	84.60M	72.92M	43.00M	52.00M	77.02M	57.48M	35.02M	11.66M	2.17M	9.31M	9.93M	3.11M	9.90M	6.50M	34.00M	0.80M	18.00M
Net Receivables	1,674.10M	1,672.10M	1,402.40M	1,508.00M	1,602.30M	1,683.00M	928.40M	1,105.00M	1,258.20M	1,090.20M	960.20M	953.10M	1,144.60M	1,017.40M	836.10M	896.20M	725.33M	587.89M	861.19M	709.04M	691.42M	369.93M	329.99M	221.79M	190.19M	172.60M	193.11M	167.70M	156.20M	117.70M	73.10M	68.90M
Inventory	2,307.90M	2,254.80M	2,026.80M	2,043.20M	1,995.30M	2,065.00M	1,420.40M	1,645.70M	1,817.10M	1,726.00M	1,532.60M	1,436.00M	1,752.10M	1,540.00M	1,272.30M	1,212.80M	860.22M	719.92M	1,284.47M	911.32M	904.32M	387.39M	349.78M	288.08M	307.39M	308.09M	271.55M	232.90M	240.70M	158.70M	122.80M	72.00M
Other Current Assets	112.50M	126.70M	148.20M	140.40M	115.60M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	46.40M	38.90M	30.50M	33.30M	0.00M	2.24M	70.93M	0.00M	0.00M	36.00M	24.58M	17.95M	15.30M	18.46M	23.63M	18.40M	16.90M	11.70M	14.20M	8.00M
Total Current Assets	4,355.70M	4,293.10M	3,895.50M	4,771.80M	4,886.60M	4,048.50M	3,032.30M	2,925.00M	3,203.50M	2,970.60M	2,615.60M	2,493.40M	3,049.30M	2,679.90M	2,236.50M	2,226.90M	1,658.46M	1,353.05M	2,268.59M	1,697.38M	1,653.21M	828.34M	716.01M	529.99M	522.18M	509.09M	491.40M	428.90M	420.30M	322.10M	210.90M	166.90M
Property, Plant & Equipment	2,927.60M	2,909.40M	2,820.10M	2,480.00M	2,191.00M	2,061.40M	1,996.20M	1,996.70M	1,729.90M	1,656.30M	1,662.20M	1,635.50M	1,656.40M	1,603.90M	1,240.70M	1,105.50M	1,025.31M	981.26M	998.71M	824.64M	742.67M	479.72M	458.81M	466.87M	306.19M	290.35M	245.35M	227.40M	213.10M	161.00M	133.60M	66.30M
Goodwill	2,168.60M	2,170.40M	2,161.80M	2,111.10M	2,105.90M	2,107.60M	1,935.20M	2,003.80M	1,870.80M	1,842.60M	1,827.40M	1,724.80M	1,736.40M	1,691.60M	1,314.60M	1,244.30M	1,109.60M	1,081.32M	1,065.53M	886.15M	784.87M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	977.60M	988.70M	1,007.20M	981.10M	1,019.60M	1,077.70M	947.10M	1,031.10M	1,072.00M	1,112.10M	1,151.30M	1,125.40M	1,241.60M	1,213.80M	936.50M	895.90M	755.77M	726.26M	741.68M	464.29M	354.20M	384.73M	341.78M	325.31M	284.28M	250.10M	232.05M	215.20M	176.90M	67.30M	0.00M	0.00M
Long-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.40M	14.10M	15.50M	16.20M	18.27M	20.88M	20.61M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax 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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	120.20M	128.40M	137.20M	136.30M	126.80M	129.20M	115.50M	89.30M	87.20M	88.70M	81.90M	81.70M	29.30M	39.80M	42.50M	36.00M	49.49M	103.91M	87.20M	87.00M	57.05M	57.27M	29.51M	32.66M	16.24M	23.84M	28.45M	28.50M	31.10M	33.50M	46.70M	27.30M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	6,194.00M	6,196.90M	6,126.30M	5,708.50M	5,443.30M	5,375.90M	4,994.00M	5,120.90M	4,759.90M	4,699.70M	4,722.80M	4,567.40M	4,669.10M	4,563.20M	3,549.80M	3,297.90M	2,958.43M	2,913.63M	2,913.72M	2,262.07M	1,938.78M	921.72M	830.10M	824.84M	606.70M	564.30M	505.85M	471.10M	421.10M	261.80M	180.30M	93.60M
Total Assets	10,549.70M	10,490.00M	10,021.80M	10,480.30M	10,329.90M	9,424.40M	8,026.30M	8,045.90M	7,963.40M	7,670.30M	7,338.40M	7,060.80M	7,718.40M	7,243.10M	5,786.30M	5,524.80M	4,616.89M	4,266.68M	5,182.31M	3,959.45M	3,591.99M	1,750.06M	1,546.12M	1,354.83M	1,128.88M	1,073.39M	997.24M	900.00M	841.40M	583.90M	391.20M	260.50M
Accounts Payable	507.80M	516.60M	361.90M	410.30M	412.40M	453.90M	259.30M	275.00M	338.80M	346.70M	302.20M	247.00M	286.50M	280.30M	255.60M	335.20M	244.99M	169.11M	248.31M	333.99M	340.36M	188.58M	140.32M	98.44M	77.44M	69.87M	82.62M	104.00M	91.60M	82.90M	50.30M	46.80M
Short-Term Debt	64.80M	400.20M	399.70M	0.30M	508.20M	5.00M	6.00M	64.90M	65.20M	92.00M	82.50M	500.80M	93.90M	36.50M	83.60M	12.20M	86.23M	86.38M	93.88M	71.82M	22.82M	50.06M	46.40M	22.40M	20.16M	10.33M	0.15M	0.20M	0.10M	0.10M	2.50M	2.90M
Tax Payables	9.60M	0.00M	0.00M	0.00M	0.00M	64.30M	0.00M	0.00M	0.00M	0.00M	6.20M	0.00M	9.20M	0.00M	0.00M	21.90M	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	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	3.53M	82.95M	2.15M	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	401.80M	179.50M	195.20M	213.90M	240.00M	294.00M	165.80M	172.10M	174.80M	139.30M	140.80M	118.70M	128.40M	119.50M	112.80M	111.00M	9.56M	-4.20M	0.00M	23.14M	23.71M	0.21M	0.14M	28.72M	4.36M	24.99M	60.97M	51.70M	37.40M	25.80M	21.30M	16.50M
Total Current Liabilities	984.00M	1,096.30M	956.80M	624.50M	1,160.60M	817.20M	431.10M	512.00M	578.80M	578.00M	531.70M	866.50M	518.00M	436.30M	452.00M	480.30M	340.78M	254.83M	425.14M	431.09M	386.88M	238.86M	186.86M	149.56M	101.96M	105.18M	143.74M	155.90M	129.10M	108.80M	74.10M	66.20M
Long-Term Debt	1,381.50M	1,025.50M	742.80M	1,141.90M	1,139.40M	1,642.00M	1,638.90M	1,523.60M	2,138.50M	1,809.40M	1,846.70M	1,427.90M	2,208.10M	2,072.50M	1,123.80M	1,319.00M	855.09M	849.38M	1,671.73M	1,008.77M	1,083.10M	301.28M	380.85M	469.25M	344.08M	331.98M	421.83M	318.10M	343.30M	143.40M	107.50M	30.40M
Capital Lease Obligations	306.80M	306.60M	275.60M	235.10M	217.70M	221.10M	205.10M	202.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3.85M	4.47M	4.50M	4.96M	5.52M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	537.00M	537.70M	537.50M	494.00M	476.60M	484.80M	455.60M	469.30M	440.10M	440.80M	626.90M	627.10M	692.90M	690.80M	466.30M	439.80M	372.56M	335.90M	340.33M	200.18M	181.63M	65.81M	55.61M	40.35M	31.67M	28.43M	28.64M	25.70M	23.20M	18.50M	16.90M	0.00M
Other Non-Current Liabilities	89.10M	92.00M	83.70M	89.10M	77.50M	88.00M	122.50M	99.30M	87.70M	97.20M	102.60M	134.20M	130.70M	119.90M	122.00M	118.70M	102.54M	92.63M	94.36M	62.22M	46.11M	15.66M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.10M	0.00M
Total Non-Current Liabilities	2,314.40M	1,961.80M	1,639.60M	1,960.10M	1,911.20M	2,435.90M	2,422.10M	2,294.20M	2,666.30M	2,347.40M	2,576.20M	2,189.20M	3,031.70M	2,883.20M	1,712.10M	1,877.50M	1,330.18M	1,281.75M	2,110.89M	1,275.67M	1,315.79M	388.26M	436.46M	509.60M	375.75M	360.41M	450.47M	343.80M	366.50M	161.90M	124.50M	30.40M
Total Liabilities	3,298.40M	3,058.10M	2,596.40M	2,584.60M	3,071.80M	3,253.10M	2,853.20M	2,806.20M	3,245.10M	2,925.40M	3,107.90M	3,055.70M	3,549.70M	3,319.50M	2,164.10M	2,357.80M	1,670.97M	1,536.58M	2,536.03M	1,706.75M	1,702.67M	627.12M	623.32M	659.16M	477.71M	465.59M	594.20M	499.70M	495.60M	270.70M	198.60M	96.60M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	99.70M	0.00M	0.00M	1.50M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.10M	0.10M	0.10M	0.10M	0.10M	0.10M	0.10M	122.20M	136.40M	594.60M	590.30M	533.80M	819.40M	818.30M	722.20M	657.10M	0.00M	0.00M	0.00M	0.00M	0.00M	325.01M	313.95M	303.59M	294.50M	290.80M	139.23M	153.10M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	7,400.20M	7,320.20M	7,334.70M	7,798.90M	7,173.60M	6,155.30M	5,193.20M	5,189.50M	4,637.90M	4,144.10M	3,663.20M	3,480.00M	3,328.50M	3,063.00M	2,837.70M	2,495.60M	2,188.73M	2,020.34M	1,900.36M	1,439.60M	1,046.34M	704.53M	508.15M	344.96M	317.19M	294.09M	264.12M	247.20M	193.90M	158.40M	131.50M	103.60M
Accumulated OCI	-95.00M	-86.20M	-115.20M	-76.70M	-86.30M	-68.90M	-77.90M	-105.10M	-102.70M	-71.60M	-104.70M	-99.70M	-48.90M	-6.70M	-1.50M	-8.80M	10.28M	-1.52M	-32.02M	20.25M	-1.63M	0.33M	0.45M	-0.93M	-1.84M	-1.01M	-0.31M	-95.80M	-81.00M	-64.90M	-56.70M	0.00M
Minority Interest	10.50M	10.00M	11.00M	10.50M	8.50M	7.20M	7.30M	7.50M	7.90M	32.80M	30.30M	28.60M	28.90M	9.80M	9.00M	8.10M	6.38M	1.69M	3.63M	1.70M	1.25M	17.13M	15.54M	9.38M	10.72M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	7,305.30M	7,234.10M	7,219.60M	7,722.30M	7,087.40M	6,086.50M	5,115.40M	5,206.60M	4,671.60M	4,667.10M	4,148.80M	4,013.80M	4,099.00M	3,874.60M	3,559.90M	3,143.90M	2,199.00M	2,018.82M	1,868.34M	1,459.84M	1,044.71M	1,029.87M	822.55M	647.62M	609.85M	583.88M	403.04M	304.50M	112.90M	93.50M	74.80M	103.60M
Total Equity	7,315.80M	7,244.10M	7,230.60M	7,732.80M	7,095.90M	6,093.70M	5,122.70M	5,214.10M	4,679.50M	4,699.90M	4,179.10M	4,042.40M	4,127.90M	3,884.40M	3,568.90M	3,152.00M	2,205.38M	2,020.51M	1,871.98M	1,461.54M	1,045.95M	1,046.99M	838.09M	657.00M	620.57M	583.88M	403.04M	304.50M	112.90M	93.50M	74.80M	103.60M
Total Liabilities & Equity	10,614.20M	10,302.20M	9,827.00M	10,317.40M	10,167.70M	9,346.80M	7,975.90M	8,020.30M	7,924.60M	7,625.30M	7,287.00M	7,098.10M	7,677.60M	7,203.90M	5,733.00M	5,509.80M	3,876.35M	3,557.09M	4,408.00M	3,168.30M	2,748.62M	1,674.11M	1,461.41M	1,316.16M	1,098.28M	1,049.47M	997.24M	804.20M	608.50M	364.20M	273.40M	200.20M
Tangible Assets	7,403.50M	7,330.90M	6,852.80M	7,388.10M	7,204.40M	6,239.10M	5,144.00M	5,011.00M	5,020.60M	4,715.60M	4,359.70M	4,210.60M	4,740.40M	4,337.70M	3,535.20M	3,384.60M	2,751.52M	2,459.10M	3,375.10M	2,609.01M	2,452.93M	1,365.33M	1,204.34M	1,029.53M	844.61M	823.29M	765.20M	684.80M	664.50M	516.60M	391.20M	260.50M
Tangible Equity	4,169.60M	4,085.00M	4,061.60M	4,640.60M	3,970.40M	2,908.40M	2,240.40M	2,179.20M	1,736.70M	1,745.20M	1,200.40M	1,192.20M	1,149.90M	979.00M	1,317.80M	1,011.80M	340.01M	212.93M	64.77M	111.10M	-93.11M	662.26M	496.31M	331.70M	336.30M	333.78M	170.99M	89.30M	-64.00M	26.20M	74.80M	103.60M
Tangible Book Value	4,169.60M	4,085.00M	4,061.60M	4,640.60M	3,970.40M	2,908.40M	2,240.40M	2,179.20M	1,736.70M	1,745.20M	1,200.40M	1,192.20M	1,149.90M	979.00M	1,317.80M	1,011.80M	340.01M	212.93M	64.77M	111.10M	-93.11M	662.26M	496.31M	331.70M	336.30M	333.78M	170.99M	89.30M	-64.00M	26.20M	74.80M	103.60M
Total Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.40M	14.10M	15.50M	16.20M	18.27M	20.88M	20.61M	0.00M	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 Debt	1,185.10M	1,186.20M	824.40M	62.00M	474.20M	1,346.50M	961.40M	1,414.20M	2,075.50M	1,747.00M	1,806.40M	1,824.40M	2,195.80M	2,025.40M	1,109.80M	1,246.60M	868.40M	892.76M	1,713.61M	1,003.56M	1,048.44M	316.31M	415.59M	489.48M	354.94M	332.37M	418.87M	308.40M	336.90M	109.50M	109.20M	15.30M

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	3,371.7M	2,945.0M	2,682.5M	3,928.2M	3,511.3M	3,095.1M	2,499.8M	2,334.9M	2,585.9M	2,347.6M	2,032.5M	1,564.5M	2,458.3M	2,165.5M	1,699.2M	1,698.3M	1,192.3M	973.3M	1,652.2M	1,121.5M	1,124.7M	513.5M	444.4M	341.8M	389.6M	380.0M	347.7M	273.0M	291.2M	213.3M	136.8M	100.7M
Total Capital	8,993.9M	8,966.4M	8,637.7M	9,099.6M	8,952.7M	7,954.6M	6,965.4M	6,997.1M	6,875.3M	6,568.5M	6,078.0M	5,842.8M	6,415.2M	5,983.6M	4,765.8M	4,475.1M	3,765.0M	3,546.0M	4,201.5M	3,192.0M	2,857.3M	1,386.7M	1,249.8M	1,139.3M	954.3M	926.2M	825.0M	718.6M	689.2M	456.7M	302.6M	197.2M
Capital Employed	9,565.7M	9,141.9M	8,808.8M	9,636.7M	8,954.6M	8,471.0M	7,493.8M	7,455.8M	7,345.8M	7,047.3M	6,755.3M	6,131.9M	7,173.8M	6,767.6M	5,279.5M	5,029.5M	4,160.3M	3,889.2M	4,545.3M	3,383.6M	3,063.4M	1,435.3M	1,274.6M	1,166.6M	996.3M	944.3M	853.5M	744.1M	712.3M	475.1M	317.1M	194.3M
Invested Capital	8,732.7M	8,726.9M	8,319.6M	8,019.4M	7,779.3M	7,654.1M	6,281.9M	6,822.8M	6,747.1M	6,414.1M	5,955.2M	5,738.5M	6,309.0M	5,900.0M	4,668.2M	4,390.5M	3,692.1M	3,503.0M	4,149.5M	3,114.9M	2,799.8M	1,351.7M	1,238.1M	1,137.1M	945.0M	916.3M	821.9M	708.7M	682.7M	422.7M	301.8M	179.2M

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	730.00M	1,044.70M	878.00M	1,335.90M	1,844.20M	1,417.40M	372.40M	706.10M	641.80M	621.00M	309.10M	316.20M	376.30M	324.70M	408.30M	349.20M	197.85M	149.18M	482.78M	407.96M	354.51M	205.44M	169.73M	34.01M	30.17M	36.34M	62.32M	57.60M	47.70M	34.20M	29.80M	22.70M
Depreciation & Amortization	279.50M	261.00M	268.70M	245.40M	240.20M	230.20M	227.30M	219.30M	215.20M	218.40M	222.00M	218.50M	213.80M	192.40M	151.50M	133.10M	120.60M	118.88M	97.92M	79.87M	60.33M	46.63M	44.63M	36.87M	28.55M	32.34M	28.09M	25.60M	19.40M	13.20M	8.50M	5.20M
Deferred Income Tax	0.00M	16.20M	36.40M	16.20M	-6.70M	-23.80M	-13.70M	32.50M	-9.10M	-192.60M	-0.50M	-17.10M	-18.20M	3.10M	2.80M	-27.20M	42.72M	58.02M	22.72M	12.04M	7.30M	-1.06M	2.73M	8.12M	3.58M	-2.14M	0.23M	-0.20M	-0.20M	1.30M	1.50M	-1.80M
Stock-Based Compensation	57.00M	59.60M	56.80M	65.00M	65.30M	70.80M	42.20M	51.20M	45.50M	33.40M	24.40M	21.30M	22.80M	26.00M	23.00M	21.30M	17.33M	15.53M	13.19M	10.12M	6.06M	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	-84.90M	99.70M	165.90M	1.90M	-55.00M	-909.70M	400.30M	279.30M	-266.70M	-283.60M	12.60M	425.20M	-220.90M	70.30M	14.10M	-246.50M	-165.35M	613.54M	50.44M	139.10M	-230.51M	8.98M	-105.74M	29.05M	29.06M	36.97M	-63.97M	54.30M	-30.70M	-2.50M	2.40M	7.00M
Accounts Receivable	-111.70M	145.70M	167.40M	95.60M	105.70M	-656.10M	136.80M	178.10M	-153.30M	-119.70M	-31.20M	222.50M	-97.20M	25.40M	123.10M	-145.90M	-146.74M	322.16M	166.03M	61.27M	-50.57M	-108.20M	-108.20M	-5.95M	-5.95M	57.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-106.30M	19.70M	116.80M	-41.50M	58.90M	-505.90M	227.50M	211.80M	-88.80M	-186.60M	-30.40M	306.80M	-131.00M	111.90M	-1.30M	-231.00M	-121.86M	569.94M	191.47M	129.58M	-89.41M	-11.35M	-61.70M	20.00M	30.15M	21.47M	-25.17M	35.00M	-3.30M	0.50M	-6.70M	-12.20M
Accounts Payable	57.20M	-117.60M	-145.50M	-89.50M	-237.00M	226.10M	-43.40M	-142.50M	-10.60M	34.20M	47.50M	-78.90M	-24.20M	-49.70M	-88.80M	107.60M	79.39M	-222.13M	-297.93M	-62.83M	-97.10M	67.74M	67.74M	7.88M	7.88M	-38.23M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	75.90M	51.90M	27.20M	37.30M	17.40M	26.20M	79.40M	31.90M	-14.00M	-11.50M	26.70M	-25.20M	31.50M	-17.30M	-18.90M	22.80M	23.87M	-56.44M	-9.12M	11.09M	6.57M	60.78M	-3.58M	7.13M	-3.02M	-3.32M	-38.81M	19.30M	-27.40M	-3.00M	9.10M	19.20M
Other Non-Cash Items	47.00M	0.90M	24.00M	6.90M	30.60M	14.50M	144.50M	13.10M	37.90M	2.40M	58.90M	60.90M	-17.80M	16.80M	2.20M	4.90M	0.92M	-12.15M	-2.37M	-10.13M	-6.71M	12.23M	10.43M	-1.64M	-0.60M	0.09M	-2.21M	0.10M	-5.30M	-6.40M	-5.80M	0.10M
Net Cash from Operating Activities	1,028.60M	1,482.10M	1,429.80M	1,671.30M	2,118.60M	799.40M	1,173.00M	1,301.50M	664.60M	399.00M	626.50M	1,025.00M	356.00M	633.30M	601.90M	234.80M	214.09M	943.00M	664.68M	638.96M	190.96M	272.22M	121.77M	106.41M	90.74M	103.59M	24.46M	131.40M	30.90M	39.80M	36.40M	39.40M
Capital Expenditures (PPE)	-366.60M	-429.90M	-430.60M	-468.80M	-341.80M	-236.60M	-172.00M	-242.20M	-239.90M	-161.60M	-154.90M	-172.20M	-190.40M	-168.00M	-214.00M	-156.40M	-111.36M	-69.90M	-151.89M	-124.13M	-108.74M	-53.74M	-35.98M	-20.91M	-18.66M	-24.54M	-30.38M	-112.50M	-176.10M	-107.10M	-21.40M	-7.90M
Acquisitions (Net)	0.20M	-365.40M	-364.60M	-24.00M	10.90M	-439.30M	-6.90M	-177.80M	-77.60M	-37.80M	-348.70M	-0.40M	-182.00M	-821.10M	-166.90M	-313.30M	-100.33M	-5.29M	-330.25M	-269.96M	-542.60M	-94.38M	0.00M	-245.85M	-53.32M	-129.68M	-41.15M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-8.50M	0.00M	-31.54M	12.59M	0.00M	-3.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3.60M	46.74M	6.58M	6.52M	0.00M	3.49M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	3.40M	5.80M	-8.50M	8.90M	-17.60M	23.60M	-9.50M	0.90M	36.50M	20.00M	-1.50M	2.70M	7.40M	10.10M	-0.80M	-9.00M	3.16M	6.58M	5.37M	-25.72M	0.52M	1.49M	-13.67M	3.02M	3.74M	8.51M	3.28M	18.50M	3.70M	8.60M	-93.40M	-13.50M
Net Cash from Investing Activities	-363.00M	-789.50M	-803.70M	-483.90M	-348.50M	-652.30M	-188.40M	-419.10M	-281.00M	-179.40M	-505.10M	-169.90M	-365.00M	-979.00M	-381.70M	-474.60M	-161.78M	-93.59M	-457.65M	-419.81M	-650.43M	-146.63M	-49.65M	-263.74M	-68.24M	-145.70M	-68.25M	-94.00M	-172.40M	-98.50M	-114.80M	-21.40M
Net Debt Issuance	112.70M	124.60M	-0.30M	-508.30M	-2.50M	-1.50M	58.80M	-617.60M	278.10M	-31.90M	-7.80M	-376.60M	168.50M	370.40M	-185.20M	283.70M	-18.42M	-831.17M	-114.22M	-119.75M	483.66M	-93.51M	-64.40M	147.25M	-17.64M	-95.57M	96.33M	-30.90M	129.00M	5.60M	62.30M	0.50M
Long-Term Debt Issuance	112.70M	124.60M	-0.30M	-506.10M	-0.30M	-0.70M	58.10M	-617.60M	326.50M	-40.30M	11.60M	-389.30M	166.80M	843.40M	-122.00M	388.40M	-21.58M	-831.30M	-110.91M	-119.75M	483.66M	-93.51M	-64.40M	147.25M	-17.64M	-95.57M	96.33M	-30.90M	129.00M	5.60M	62.30M	0.50M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	-2.20M	-2.20M	-0.80M	0.70M	-0.30M	-48.40M	8.40M	-12.60M	12.70M	1.70M	-473.00M	-63.20M	-104.70M	3.20M	0.13M	-3.31M	0.00M	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 Stock Issuance	-536.40M	-1,215.50M	-1,093.70M	-479.50M	-630.30M	-323.50M	-337.30M	-50.00M	-484.90M	-19.80M	0.00M	-355.50M	-50.00M	0.00M	0.00M	0.00M	0.00M	0.26M	-114.49M	-65.40M	7.34M	11.06M	10.37M	10.49M	3.71M	151.57M	-54.33M	1.90M	-10.60M	88.90M	0.80M	-7.20M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	37.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.26M	0.28M	0.28M	7.34M	11.06M	10.37M	10.49M	3.71M	151.57M	1.95M	1.90M	0.70M	96.30M	0.80M	0.40M
Common Stock Repurchased	-536.40M	-1,215.50M	-1,093.70M	-479.50M	-630.30M	-323.50M	-337.30M	-50.00M	-484.90M	-25.00M	0.00M	-355.50M	-50.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-114.77M	-82.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-56.28M	0.00M	-11.30M	-7.40M	0.00M	-7.60M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	16.48M	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	-252.40M	-247.30M	-249.70M	-238.10M	-217.10M	-177.00M	-164.10M	-151.30M	-145.30M	-132.00M	-120.40M	-120.10M	-108.70M	-96.90M	-60.20M	-35.90M	-29.69M	-29.38M	-29.23M	-24.21M	-16.15M	-12.53M	-10.16M	-8.02M	-7.61M	-6.81M	-6.00M	-4.90M	-4.50M	-2.60M	-1.90M	-1.60M
Common Dividends Paid	-252.40M	-247.30M	-249.70M	-238.10M	-217.10M	-177.00M	-164.10M	-151.30M	-145.30M	-132.00M	-120.40M	-120.10M	-108.70M	-96.90M	-60.20M	-35.90M	-29.69M	-29.38M	-29.23M	-24.21M	-16.15M	-12.53M	-8.45M	-8.02M	-0.44M	-6.81M	-6.00M	-4.90M	-4.50M	-2.60M	-1.90M	-1.60M
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	-1.71M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-38.80M	-22.10M	-32.70M	-56.40M	-44.90M	-27.70M	-40.40M	-21.70M	-51.80M	-14.40M	28.00M	3.70M	23.20M	58.60M	37.80M	-0.20M	23.65M	0.46M	26.46M	9.51M	6.90M	-7.16M	0.00M	0.00M	-8.88M	0.45M	1.03M	-0.10M	0.00M	0.10M	0.00M	0.10M
Net Cash from Financing Activities	-714.90M	-1,360.30M	-1,376.40M	-1,282.30M	-892.60M	-528.90M	-483.00M	-840.60M	-403.90M	-198.10M	-100.20M	-848.50M	33.00M	332.10M	-207.60M	247.60M	-24.46M	-859.83M	-231.49M	-199.85M	481.76M	-102.14M	-64.19M	149.71M	-23.26M	49.64M	37.03M	-34.00M	113.90M	92.00M	61.20M	-8.20M
Effect of FX on Cash	-4.10M	5.40M	-11.80M	1.70M	-4.60M	-1.20M	7.60M	4.30M	-5.90M	10.10M	-2.70M	-8.50M	-1.40M	-0.40M	0.40M	3.90M	2.07M	1.43M	-0.57M	0.24M	0.17M	-0.08M	1.57M	0.47M	0.12M	-0.70M	0.00M	0.00M	141.50M	58.70M	78.40M	-18.00M
Net Change in Cash	-53.40M	-662.30M	-762.10M	-93.20M	872.90M	-383.00M	509.20M	46.10M	-26.20M	31.60M	18.50M	-1.90M	22.60M	-14.00M	13.00M	11.70M	29.91M	-8.99M	-25.03M	19.55M	22.45M	23.36M	9.49M	-7.14M	-0.63M	6.82M	-6.76M	3.40M	113.90M	92.00M	61.20M	-8.20M
Cash at Beginning of Period	1,150.00M	3,342.80M	1,080.20M	1,173.40M	300.50M	683.50M	174.30M	128.20M	154.40M	122.80M	104.30M	106.20M	83.60M	97.60M	84.60M	72.90M	43.00M	52.00M	77.02M	57.48M	35.02M	11.66M	2.17M	9.31M	9.93M	3.11M	9.86M	6.50M	34.00M	0.80M	18.00M	8.30M
Cash at End of Period	1,096.60M	2,680.50M	318.10M	1,080.20M	1,173.40M	300.50M	683.50M	174.30M	128.20M	154.40M	122.80M	104.30M	106.20M	83.60M	97.60M	84.60M	72.92M	43.00M	52.00M	77.02M	57.48M	35.02M	11.66M	2.17M	9.31M	9.93M	3.11M	9.90M	147.90M	92.80M	79.20M	0.10M
Operating Cash Flow	1,028.60M	1,482.10M	1,429.80M	1,671.30M	2,118.60M	799.40M	1,173.00M	1,301.50M	664.60M	399.00M	626.50M	1,025.00M	356.00M	633.30M	601.90M	234.80M	214.09M	943.00M	664.68M	638.96M	190.96M	272.22M	121.77M	106.41M	90.74M	103.59M	24.46M	131.40M	30.90M	39.80M	36.40M	39.40M
Capital Expenditure	-366.60M	-429.90M	-430.60M	-468.80M	-341.80M	-236.60M	-172.00M	-242.20M	-239.90M	-161.60M	-154.90M	-172.20M	-190.40M	-168.00M	-214.00M	-156.40M	-111.36M	-69.90M	-151.89M	-124.13M	-108.74M	-53.74M	-35.98M	-20.91M	-18.66M	-24.54M	-30.38M	-112.50M	-176.10M	-107.10M	-21.40M	-7.90M
Free Cash Flow	662.00M	1,052.20M	999.20M	1,202.50M	1,776.80M	562.80M	1,001.00M	1,059.30M	424.70M	237.40M	471.60M	852.80M	165.60M	465.30M	387.90M	78.40M	102.73M	873.10M	512.79M	514.84M	82.22M	218.48M	85.79M	85.51M	72.09M	79.05M	-5.92M	18.90M	-145.20M	-67.30M	15.00M	31.50M

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	1,348.90M	1,609.40M	1,444.50M	1,984.90M	2,748.50M	2,183.90M	950.90M	1,233.10M	1,173.10M	884.90M	799.20M	809.80M	854.40M	770.60M	810.70M	705.70M	481.32M	369.28M	950.90M	813.31M	695.60M	413.82M	352.47M	151.57M	129.28M	147.49M	179.12M	160.70M	127.80M	85.80M	60.70M	45.00M
(-) Tax Adjustment	309.08M	353.55M	331.88M	456.80M	662.92M	540.09M	210.38M	296.17M	287.97M	0.00M	223.63M	251.57M	265.88M	247.47M	267.53M	224.01M	160.07M	87.49M	332.81M	284.66M	243.46M	144.84M	123.36M	53.05M	45.25M	51.62M	62.69M	56.25M	44.73M	30.03M	21.25M	15.75M
(-) Change In Working Capital	-84.90M	99.70M	165.90M	1.90M	-55.00M	-909.70M	400.30M	279.30M	-266.70M	-283.60M	12.60M	425.20M	-220.90M	70.30M	14.10M	-246.50M	-165.35M	613.54M	50.44M	139.10M	-230.51M	8.98M	-105.74M	29.05M	29.06M	36.97M	-63.97M	54.30M	-30.70M	-2.50M	2.40M	7.00M
(-) Capital Expenditure	-366.60M	-429.90M	-430.60M	-468.80M	-341.80M	-236.60M	-172.00M	-242.20M	-239.90M	-161.60M	-154.90M	-172.20M	-190.40M	-168.00M	-214.00M	-156.40M	-111.36M	-69.90M	-151.89M	-124.13M	-108.74M	-53.74M	-35.98M	-20.91M	-18.66M	-24.54M	-30.38M	-112.50M	-176.10M	-107.10M	-21.40M	-7.90M
Unlevered Free Cash Flow	758.12M	726.25M	516.12M	1,057.40M	1,798.78M	2,316.91M	168.22M	415.43M	911.93M	1,006.90M	408.07M	-39.17M	619.02M	284.83M	315.07M	571.79M	375.25M	-401.66M	415.75M	265.42M	573.91M	206.26M	298.86M	48.56M	36.32M	34.36M	150.02M	-62.35M	-62.33M	-48.83M	15.66M	14.35M
(-) Net Interest Income After Taxes	-38.70M	-31.29M	-15.10M	-3.77M	-40.22M	-111.55M	-110.82M	-120.74M	-117.93M	-140.40M	-104.93M	-96.99M	-91.61M	-84.38M	-67.80M	-41.02M	-43.35M	-44.20M	-55.83M	-51.16M	-40.10M	-16.39M	-18.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	112.70M	124.60M	-0.30M	-508.30M	-2.50M	-1.50M	58.80M	-617.60M	278.10M	-31.90M	-7.80M	-376.60M	168.50M	370.40M	-185.20M	283.70M	-18.42M	-831.17M	-114.22M	-119.75M	483.66M	-93.51M	-64.40M	147.25M	-17.64M	-95.57M	96.33M	-30.90M	129.00M	5.60M	62.30M	0.50M
Levered Free Cash Flow	909.51M	882.14M	530.91M	552.87M	1,836.49M	2,426.96M	337.83M	-81.43M	1,307.97M	1,115.40M	505.20M	-318.78M	879.14M	739.61M	197.68M	896.51M	400.17M	-1,188.62M	357.35M	196.84M	1,097.67M	129.14M	253.11M	195.80M	18.68M	-61.21M	246.35M	-93.25M	66.67M	-43.23M	77.96M	14.85M