3M Company (MMM)

Industry: Conglomerates Sector: Industrials Currency Used: US Live Price: $167.80

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	155.18	152.24	151.43	115.11	85.31	106.33	155.58	131.15	152.01	171.18	176.58	145.59	127.85	122.26	99.21	76.28	71.46	70.14	55.66	57.40	71.54	64.55	64.56	69.80	59.28	49.74	45.26	39.99	36.75	33.23	37.77	30.38
Market Capitalization	83,548.91M	82,300.94M	81,904.11M	63,334.82M	47,251.57M	60,225.33M	90,095.49M	75,758.18M	87,715.90M	100,774.18M	105,510.35M	88,035.34M	80,034.59M	79,296.95M	67,549.75M	52,929.87M	50,569.77M	50,004.69M	39,051.23M	40,164.94M	51,283.29M	48,154.47M	49,335.26M	54,406.36M	46,380.62M	38,788.24M	35,648.71M	31,643.71M	29,487.27M	26,819.33M	31,157.77M	25,394.49M
(-) Cash & Equivalents	4,671.00M	3,712.00M	4,903.00M	8,161.00M	4,739.25M	3,257.00M	4,693.25M	4,306.75M	3,967.75M	3,082.50M	2,677.75M	1,932.75M	2,044.25M	1,976.25M	2,697.75M	2,888.00M	2,929.50M	3,428.25M	2,626.75M	2,090.75M	1,654.00M	1,086.25M	1,838.50M	2,272.25M	1,162.50M	673.50M	549.00M	314.75M	300.00M	203.50M	325.00M	581.75M
(+) Total Debt	13,535.00M	13,726.00M	13,776.00M	15,827.75M	16,799.75M	17,008.50M	18,874.75M	21,291.75M	18,842.50M	14,930.50M	12,171.00M	11,736.00M	9,301.00M	6,941.00M	5,931.50M	5,977.75M	5,655.75M	5,689.75M	6,014.00M	6,500.50M	4,813.75M	3,190.75M	2,606.75M	2,759.50M	3,085.00M	2,959.25M	3,122.25M	2,804.50M	2,455.25M	2,993.25M	2,086.00M	1,919.75M
Enterprise Value	92,412.91M	92,314.94M	90,777.11M	71,001.57M	59,312.07M	73,976.83M	104,276.99M	92,743.18M	102,590.65M	112,622.18M	115,003.60M	97,838.59M	87,291.34M	84,261.70M	70,783.50M	56,019.62M	53,296.02M	52,266.19M	42,438.48M	44,574.69M	54,443.04M	50,258.97M	50,103.51M	54,893.61M	48,303.12M	41,073.99M	38,221.96M	34,133.46M	31,642.52M	29,609.08M	32,918.77M	26,732.49M

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	24,825M	24,567M	24,575M	24,610M	34,229M	35,355M	32,184M	32,136M	32,765M	31,657M	30,109M	30,274M	31,821M	30,871M	29,904M	29,611M	26,662M	23,123M	25,269M	24,462M	22,923M	21,167M	20,011M	18,232M	16,332M	16,079M	16,724M	15,659M	15,021M	15,070M	14,236M	13,460M
Cost of Revenue	14,743M	14,540M	14,495M	15,037M	19,263M	18,743M	16,581M	16,830M	16,575M	15,995M	15,133M	15,532M	16,463M	16,112M	15,692M	15,613M	13,760M	12,036M	13,235M	12,664M	11,586M	10,408M	9,958M	9,285M	8,496M	8,749M	8,787M	8,852M	8,705M	8,580M	8,099M	7,720M
Gross Profit	10,082M	10,027M	10,080M	9,573M	14,966M	16,612M	15,603M	15,306M	16,190M	15,662M	14,976M	14,742M	15,358M	14,759M	14,212M	13,998M	12,902M	11,087M	12,034M	11,798M	11,337M	10,759M	10,053M	8,947M	7,836M	7,330M	7,937M	6,807M	6,316M	6,490M	6,137M	5,740M
Gross Profit Margin	40.6%	40.8%	41.0%	38.9%	43.7%	47.0%	48.5%	47.6%	49.4%	49.5%	49.7%	48.7%	48.3%	47.8%	47.5%	47.3%	48.4%	47.9%	47.6%	48.2%	49.5%	50.8%	50.2%	49.1%	48.0%	45.6%	47.5%	43.5%	42.0%	43.1%	43.1%	42.6%
R&D Expenses	1,151M	1,075M	1,070M	1,123M	1,856M	1,977M	1,862M	1,874M	1,816M	1,862M	1,735M	1,751M	1,770M	1,715M	1,634M	1,570M	1,434M	1,285M	1,391M	1,372M	1,352M	1,274M	1,143M	1,102M	1,070M	1,084M	1,101M	0M	0M	0M	0M	0M
SG&A Expenses	3,910M	-74M	4,079M	4,403M	9,037M	7,109M	6,784M	6,458M	6,600M	6,574M	6,222M	6,120M	6,468M	6,384M	6,102M	6,170M	5,479M	4,816M	5,134M	5,041M	4,828M	4,601M	4,332M	4,039M	3,720M	4,061M	3,963M	3,879M	3,784M	3,815M	3,646M	3,440M
Operating Expenses	5,222M	1,001M	5,149M	5,526M	10,893M	9,086M	8,646M	8,332M	8,416M	8,436M	7,957M	7,871M	8,238M	8,099M	7,736M	7,740M	6,913M	6,101M	6,525M	6,413M	6,180M	5,875M	5,475M	5,141M	4,790M	5,057M	4,879M	3,879M	3,784M	3,815M	3,646M	3,440M
Operating Income (EBIT)	4,860M	9,026M	4,931M	4,047M	4,073M	7,526M	6,957M	6,974M	7,774M	7,226M	7,019M	6,871M	7,120M	6,660M	6,476M	6,258M	5,989M	4,986M	5,509M	5,385M	5,157M	4,884M	4,578M	3,806M	3,046M	2,273M	3,058M	2,928M	2,532M	2,675M	2,491M	2,300M
Operating Income Margin	19.6%	36.7%	20.1%	16.4%	11.9%	21.3%	21.6%	21.7%	23.7%	22.8%	23.3%	22.7%	22.4%	21.6%	21.7%	21.1%	22.5%	21.6%	21.8%	22.0%	22.5%	23.1%	22.9%	20.9%	18.7%	14.1%	18.3%	18.7%	16.9%	17.8%	17.5%	17.1%
Interest Income	267M	450M	452M	250M	67M	26M	29M	80M	70M	50M	29M	26M	33M	41M	39M	39M	38M	37M	105M	132M	51M	56M	46M	28M	39M	37M	0M	0M	0M	0M	0M	0M
Interest Expense	969M	1,296M	1,182M	932M	498M	457M	553M	431M	240M	84M	207M	229M	101M	0M	221M	154M	215M	157M	215M	210M	122M	82M	69M	84M	80M	124M	0M	0M	0M	0M	0M	0M
Net Interest Income	-702M	-846M	-730M	-682M	-431M	-431M	-524M	-351M	-170M	-34M	-178M	-203M	-68M	41M	-182M	-115M	-177M	-120M	-110M	-78M	-71M	-26M	-23M	-56M	-41M	-87M	0M	0M	0M	0M	0M	0M
Unusual Items	109M	-3,451M	627M	-14,618M	2,761M	119M	357M	-911M	-604M	356M	212M	155M	-26M	-139M	57M	-112M	-57M	-234M	-291M	808M	539M	-30M	0M	-93M	0M	0M	-84M	-48M	-580M	765M	-89M	-209M
EBT Excluding Unusual Items	4,158M	8,180M	4,201M	3,365M	3,642M	7,095M	6,433M	6,623M	7,604M	7,192M	6,841M	6,668M	7,052M	6,701M	6,294M	6,143M	5,812M	4,866M	5,399M	5,307M	5,086M	4,858M	4,555M	3,750M	3,005M	2,186M	3,058M	2,928M	2,532M	2,675M	2,491M	2,300M
Pre-Tax Income	4,267M	4,729M	4,828M	-11,253M	6,403M	7,214M	6,790M	5,712M	7,000M	7,548M	7,053M	6,823M	7,026M	6,562M	6,351M	6,031M	5,755M	4,632M	5,108M	6,115M	5,625M	4,828M	4,555M	3,657M	3,005M	2,186M	2,974M	2,880M	1,952M	3,440M	2,402M	2,091M
Pre-Tax Margin	17.2%	19.2%	19.6%	-45.7%	18.7%	20.4%	21.1%	17.8%	21.4%	23.8%	23.4%	22.5%	22.1%	21.3%	21.2%	20.4%	21.6%	20.0%	20.2%	25.0%	24.5%	22.8%	22.8%	20.1%	18.4%	13.6%	17.8%	18.4%	13.0%	22.8%	16.9%	15.5%
Income Tax Expense	851M	797M	804M	-2,867M	612M	1,285M	1,337M	1,130M	1,637M	2,679M	1,995M	1,982M	2,028M	1,841M	1,840M	1,674M	1,592M	1,388M	1,588M	1,964M	1,723M	1,627M	1,503M	1,202M	966M	702M	1,025M	1,032M	685M	1,241M	886M	785M
Net Income	3,401M	4,390M	4,173M	-6,995M	5,777M	5,921M	5,449M	4,570M	5,349M	4,858M	5,050M	4,833M	4,956M	4,659M	4,444M	4,283M	4,085M	3,193M	3,460M	4,096M	3,851M	3,146M	2,990M	2,403M	1,974M	1,430M	1,782M	1,763M	1,175M	2,121M	1,526M	976M
Net Income Margin	13.7%	17.9%	17.0%	-28.4%	16.9%	16.7%	16.9%	14.2%	16.3%	15.3%	16.8%	16.0%	15.6%	15.1%	14.9%	14.5%	15.3%	13.8%	13.7%	16.7%	16.8%	14.9%	14.9%	13.2%	12.1%	8.9%	10.7%	11.3%	7.8%	14.1%	10.7%	7.3%
Depreciation & Amortization	1,200M	1,440M	1,224M	1,433M	1,831M	1,915M	1,911M	1,593M	1,488M	1,544M	1,474M	1,435M	1,408M	1,371M	1,288M	1,236M	1,120M	1,157M	1,153M	1,072M	1,079M	986M	999M	964M	954M	1,089M	1,025M	900M	866M	870M	883M	859M
EBITDA	6,060M	10,466M	6,155M	5,480M	5,904M	9,441M	8,868M	8,567M	9,262M	8,770M	8,493M	8,306M	8,528M	8,031M	7,764M	7,494M	7,109M	6,143M	6,662M	6,457M	6,236M	5,870M	5,577M	4,770M	4,000M	3,362M	4,083M	3,828M	3,398M	3,545M	3,374M	3,159M
EBITDA Margin	24.4%	42.6%	25.0%	22.3%	17.2%	26.7%	27.6%	26.7%	28.3%	27.7%	28.2%	27.4%	26.8%	26.0%	26.0%	25.3%	26.7%	26.6%	26.4%	26.4%	27.2%	27.7%	27.9%	26.2%	24.5%	20.9%	24.4%	24.4%	22.6%	23.5%	23.7%	23.5%
NOPAT	3,891M	7,505M	4,110M	3,197M	3,684M	6,185M	5,587M	5,594M	5,956M	4,661M	5,034M	4,875M	5,065M	4,792M	4,600M	4,521M	4,332M	3,492M	3,796M	3,655M	3,577M	3,238M	3,067M	2,555M	2,067M	1,543M	2,004M	1,879M	1,643M	1,710M	1,572M	1,437M
NOPAT Margin	15.7%	30.5%	16.7%	13.0%	10.8%	17.5%	17.4%	17.4%	18.2%	14.7%	16.7%	16.1%	15.9%	15.5%	15.4%	15.3%	16.2%	15.1%	15.0%	14.9%	15.6%	15.3%	15.3%	14.0%	12.7%	9.6%	12.0%	12.0%	10.9%	11.3%	11.0%	10.7%
Owner's Earnings	3,204M	4,582M	4,216M	-7,177M	5,859M	6,233M	5,859M	4,464M	5,260M	5,029M	5,104M	4,807M	4,871M	4,365M	4,248M	4,140M	4,114M	3,447M	3,142M	3,746M	3,762M	3,189M	3,052M	2,690M	2,165M	1,539M	1,692M	1,624M	611M	1,585M	1,300M	747M
Owner's Earnings Margin	12.9%	18.7%	17.2%	-29.2%	17.1%	17.6%	18.2%	13.9%	16.1%	15.9%	17.0%	15.9%	15.3%	14.1%	14.2%	14.0%	15.4%	14.9%	12.4%	15.3%	16.4%	15.1%	15.3%	14.8%	13.3%	9.6%	10.1%	10.4%	4.1%	10.5%	9.1%	5.5%
EPS (Basic)	6.30	7.93	7.58	-12.63	10.21	10.23	9.43	7.92	9.09	8.13	8.35	7.73	7.63	6.83	6.40	6.05	5.72	4.56	4.95	5.70	5.15	4.18	3.83	3.07	2.53	1.81	2.25	2.19	1.46	2.57	1.82	1.16
EPS (Diluted)	6.24	7.91	7.55	-12.63	10.18	10.12	9.36	7.81	8.89	7.93	8.16	7.58	7.49	6.72	6.32	5.96	5.63	4.52	4.89	5.60	5.06	4.05	3.75	3.02	2.50	1.79	2.23	2.17	1.44	2.53	1.79	1.15
Shares (Basic)	542M	554M	551M	554M	566M	579M	578M	577M	589M	598M	605M	626M	649M	682M	694M	709M	714M	701M	699M	718M	748M	765M	781M	783M	780M	789M	791M	805M	807M	825M	836M	840M
Shares (Diluted)	545M	555M	552M	554M	568M	585M	582M	585M	602M	613M	619M	637M	662M	694M	703M	719M	726M	707M	707M	732M	761M	777M	797M	795M	791M	800M	800M	813M	816M	838M	852M	848M

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	4,671.00M	3,712.00M	5,600.00M	5,735.00M	3,655.00M	4,564.00M	4,634.00M	2,353.00M	2,853.00M	3,053.00M	2,398.00M	1,798.00M	1,897.00M	2,581.00M	2,883.00M	2,219.00M	3,377.00M	3,040.00M	1,849.00M	1,896.00M	1,447.00M	1,072.00M	2,757.00M	1,836.00M	618.00M	616.00M	302.00M	387.00M	211.00M	230.00M	583.00M	485.00M
Short-Term Investments	517.00M	502.00M	2,128.00M	50.00M	238.00M	201.00M	404.00M	98.00M	380.00M	1,076.00M	280.00M	118.00M	626.00M	756.00M	1,648.00M	1,461.00M	1,101.00M	744.00M	373.00M	579.00M	471.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	54.00M	237.00M	247.00M	161.00M	287.00M
Cash & Short-Term Investments	5,188.00M	4,214.00M	7,728.00M	5,785.00M	3,893.00M	4,765.00M	5,038.00M	2,451.00M	3,233.00M	4,129.00M	2,678.00M	1,916.00M	2,523.00M	3,337.00M	4,531.00M	3,680.00M	4,478.00M	3,784.00M	2,222.00M	2,475.00M	1,918.00M	1,072.00M	2,757.00M	1,836.00M	618.00M	616.00M	302.00M	441.00M	448.00M	477.00M	744.00M	772.00M
Net Receivables	3,777.00M	3,760.00M	3,272.00M	3,710.00M	4,635.00M	4,770.00M	4,830.00M	4,963.00M	5,123.00M	4,982.00M	4,501.00M	4,260.00M	4,315.00M	4,352.00M	4,186.00M	3,976.00M	3,707.00M	3,360.00M	3,325.00M	3,582.00M	3,357.00M	3,121.00M	3,335.00M	3,162.00M	2,840.00M	2,786.00M	2,891.00M	2,778.00M	2,666.00M	2,434.00M	2,504.00M	2,398.00M
Inventory	3,893.00M	4,077.00M	3,698.00M	3,944.00M	5,372.00M	4,985.00M	4,239.00M	4,134.00M	4,366.00M	4,034.00M	3,385.00M	3,518.00M	3,706.00M	3,864.00M	3,837.00M	3,416.00M	3,155.00M	2,639.00M	3,013.00M	2,852.00M	2,601.00M	2,162.00M	1,897.00M	1,816.00M	1,931.00M	2,091.00M	2,312.00M	2,030.00M	2,219.00M	2,399.00M	2,264.00M	2,206.00M
Other Current Assets	3,231.00M	1,376.00M	1,186.00M	2,940.00M	788.00M	883.00M	875.00M	1,423.00M	987.00M	1,132.00M	1,162.00M	1,292.00M	946.00M	1,180.00M	1,076.00M	1,168.00M	875.00M	1,012.00M	1,038.00M	929.00M	1,070.00M	760.00M	731.00M	906.00M	670.00M	803.00M	874.00M	871.00M	985.00M	858.00M	974.00M	1,019.00M
Total Current Assets	16,089.00M	13,427.00M	15,884.00M	16,379.00M	14,688.00M	15,403.00M	14,982.00M	12,971.00M	13,709.00M	14,277.00M	11,726.00M	10,986.00M	11,490.00M	12,733.00M	13,630.00M	12,240.00M	12,215.00M	10,795.00M	9,598.00M	9,838.00M	8,946.00M	7,115.00M	8,720.00M	7,720.00M	6,059.00M	6,296.00M	6,379.00M	6,120.00M	6,318.00M	6,168.00M	6,486.00M	6,395.00M
Property, Plant & Equipment	7,784.00M	7,966.00M	7,953.00M	8,347.00M	10,007.00M	10,287.00M	10,285.00M	10,191.00M	8,738.00M	8,866.00M	8,516.00M	8,515.00M	8,489.00M	8,652.00M	8,378.00M	7,666.00M	7,279.00M	7,000.00M	6,886.00M	6,582.00M	5,907.00M	5,593.00M	5,711.00M	5,609.00M	5,621.00M	5,615.00M	5,823.00M	5,656.00M	5,566.00M	5,034.00M	4,844.00M	4,638.00M
Goodwill	6,416.00M	6,433.00M	6,281.00M	6,382.00M	12,790.00M	13,486.00M	13,802.00M	13,444.00M	10,051.00M	10,513.00M	9,166.00M	9,249.00M	7,050.00M	7,345.00M	7,385.00M	7,047.00M	6,820.00M	5,832.00M	5,753.00M	4,589.00M	4,082.00M	3,473.00M	2,655.00M	2,419.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	1,127.00M	1,162.00M	1,210.00M	1,323.00M	4,699.00M	5,288.00M	5,835.00M	6,379.00M	2,657.00M	2,936.00M	2,320.00M	2,601.00M	1,435.00M	1,688.00M	1,925.00M	1,916.00M	1,820.00M	1,342.00M	1,398.00M	801.00M	708.00M	486.00M	277.00M	274.00M	2,167.00M	1,213.00M	852.00M	657.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	0.00M	0.00M	2,505.00M	210.00M	967.00M	262.00M	214.00M	196.00M	188.00M	150.00M	128.00M	126.00M	117.00M	1,575.00M	1,325.00M	1,051.00M	686.00M	928.00M	463.00M	778.00M	480.00M	272.00M	227.00M	218.00M	238.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.00M	0.00M	4,146.00M	4,779.00M	959.00M	581.00M	871.00M	521.00M	365.00M	511.00M	422.00M	675.00M	1,130.00M	360.00M	578.00M	1,018.00M	648.00M	625.00M	1,053.00M	176.00M	253.00M	138.00M	132.00M	183.00M	210.00M	152.00M	143.00M	88.00M	88.00M	167.00M	132.00M	105.00M
Other Non-Current Assets	6,195.00M	9,001.00M	1,889.00M	13,160.00M	2,345.00M	1,765.00M	1,355.00M	957.00M	792.00M	734.00M	611.00M	731.00M	711.00M	1,197.00M	655.00M	678.00M	688.00M	728.00M	467.00M	1,930.00M	918.00M	3,464.00M	2,986.00M	1,177.00M	1,482.00M	1,330.00M	1,325.00M	1,429.00M	2,181.00M	1,869.00M	1,902.00M	3,045.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	21,522.00M	24,562.00M	23,984.00M	34,201.00M	31,767.00M	31,669.00M	32,362.00M	31,688.00M	22,791.00M	23,710.00M	21,163.00M	21,897.00M	18,932.00M	20,817.00M	20,246.00M	19,376.00M	17,941.00M	16,455.00M	16,020.00M	14,856.00M	12,348.00M	13,426.00M	11,988.00M	9,880.00M	9,718.00M	8,310.00M	8,143.00M	7,830.00M	7,835.00M	7,070.00M	6,878.00M	7,788.00M
Total Assets	37,611.00M	37,989.00M	39,868.00M	50,580.00M	46,455.00M	47,072.00M	47,344.00M	44,659.00M	36,500.00M	37,987.00M	32,889.00M	32,883.00M	30,422.00M	33,550.00M	33,876.00M	31,616.00M	30,156.00M	27,250.00M	25,618.00M	24,694.00M	21,294.00M	20,541.00M	20,708.00M	17,600.00M	15,777.00M	14,606.00M	14,522.00M	13,950.00M	14,153.00M	13,238.00M	13,364.00M	14,183.00M
Accounts Payable	2,735.00M	2,840.00M	2,660.00M	2,776.00M	3,183.00M	2,994.00M	2,561.00M	2,228.00M	2,266.00M	1,945.00M	1,798.00M	1,694.00M	1,807.00M	1,799.00M	1,762.00M	1,643.00M	1,662.00M	1,453.00M	1,301.00M	1,505.00M	1,402.00M	1,256.00M	1,168.00M	1,087.00M	945.00M	753.00M	1,081.00M	1,008.00M	868.00M	898.00M	895.00M	762.00M
Short-Term Debt	923.00M	849.00M	2,082.00M	3,139.00M	2,199.00M	1,570.00M	1,062.00M	3,042.00M	1,211.00M	1,853.00M	972.00M	1,389.00M	106.00M	1,683.00M	527.00M	95.00M	1,269.00M	613.00M	1,552.00M	901.00M	2,506.00M	1,072.00M	2,094.00M	1,202.00M	1,237.00M	1,373.00M	1,866.00M	1,130.00M	1,492.00M	1,499.00M	1,117.00M	822.00M
Tax Payables	324.00M	315.00M	0.00M	582.00M	259.00M	260.00M	300.00M	194.00M	243.00M	310.00M	299.00M	332.00M	435.00M	417.00M	371.00M	355.00M	554.00M	450.00M	491.00M	712.00M	1,310.00M	1,187.00M	1,041.00M	1,051.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	15.00M	23.00M	538.00M	529.00M	498.00M	430.00M	617.00M	513.00M	551.00M	518.00M	541.00M	521.00M	471.00M	389.00M	369.00M	316.00M	322.00M	323.00M	299.00M	237.00M	226.00M	196.00M	198.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	4,751.00M	3,804.00M	6,499.00M	8,777.00M	3,344.00M	3,682.00M	3,527.00M	3,328.00M	2,907.00M	2,550.00M	2,114.00M	2,738.00M	2,070.00M	3,078.00M	2,744.00M	2,585.00M	2,235.00M	2,065.00M	2,462.00M	1,921.00M	1,806.00M	1,999.00M	1,542.00M	1,546.00M	2,077.00M	2,383.00M	1,807.00M	1,681.00M	1,862.00M	1,586.00M	1,777.00M	2,140.00M
Total Current Liabilities	8,733.00M	7,808.00M	11,256.00M	15,297.00M	9,523.00M	9,035.00M	7,948.00M	9,222.00M	7,244.00M	7,171.00M	5,734.00M	6,671.00M	4,959.00M	7,498.00M	5,875.00M	5,067.00M	6,089.00M	4,897.00M	6,128.00M	5,362.00M	7,323.00M	5,751.00M	6,071.00M	5,082.00M	4,457.00M	4,509.00M	4,754.00M	3,819.00M	4,222.00M	3,983.00M	3,789.00M	3,724.00M
Long-Term Debt	12,612.00M	12,877.00M	11,577.00M	13,612.00M	14,656.00M	16,740.00M	18,691.00M	18,236.00M	13,486.00M	12,156.00M	10,723.00M	8,799.00M	6,790.00M	4,384.00M	4,987.00M	4,563.00M	4,277.00M	5,204.00M	5,224.00M	4,088.00M	1,112.00M	1,368.00M	798.00M	1,805.00M	2,142.00M	1,520.00M	971.00M	1,480.00M	1,614.00M	1,015.00M	851.00M	1,203.00M
Capital Lease Obligations	553.00M	580.00M	615.00M	716.00M	916.00M	947.00M	958.00M	965.00M	75.00M	60.00M	45.00M	-609.00M	59.00M	58.00M	-487.00M	-508.00M	94.00M	107.00M	58.00M	69.00M	65.00M	59.00M	71.00M	70.00M	2.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	354.00M	315.00M	559.00M	458.00M	333.00M	301.00M	279.00M	235.00M	145.00M	551.00M	141.00M	538.00M	167.00M	251.00M	198.00M	91.00M	21.00M	355.00M	84.00M	1,609.00M	1,284.00M	426.00M	0.00M	469.00M	362.00M	332.00M	193.00M	89.00M	97.00M	90.00M
Other Non-Current Liabilities	1,211.00M	12,953.00M	12,787.00M	16,488.00M	6,947.00M	5,722.00M	7,441.00M	6,774.00M	5,643.00M	6,250.00M	5,461.00M	4,928.00M	5,177.00M	3,163.00M	4,453.00M	5,480.00M	3,557.00M	3,733.00M	4,383.00M	3,106.00M	2,766.00M	2,153.00M	2,122.00M	2,330.00M	2,279.00M	1,495.00M	1,558.00M	1,605.00M	1,798.00M	1,864.00M	1,970.00M	1,799.00M
Total Non-Current Liabilities	14,376.00M	26,410.00M	25,333.00M	31,131.00M	23,078.00M	23,867.00M	27,423.00M	26,276.00M	19,483.00M	18,701.00M	16,374.00M	13,669.00M	12,167.00M	8,143.00M	9,120.00M	9,786.00M	8,126.00M	9,135.00M	9,686.00M	7,618.00M	4,027.00M	5,189.00M	4,275.00M	4,631.00M	4,423.00M	3,484.00M	2,891.00M	3,417.00M	3,605.00M	2,968.00M	2,918.00M	3,092.00M
Total Liabilities	23,109.00M	34,218.00M	36,589.00M	46,428.00M	32,601.00M	32,902.00M	35,371.00M	35,498.00M	26,727.00M	25,872.00M	22,108.00M	20,340.00M	17,126.00M	15,641.00M	14,995.00M	14,853.00M	14,215.00M	14,032.00M	15,814.00M	12,980.00M	11,350.00M	10,940.00M	10,346.00M	9,713.00M	8,880.00M	7,993.00M	7,645.00M	7,236.00M	7,827.00M	6,951.00M	6,707.00M	6,816.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	9.00M	5.00M	5.00M	5.00M	236.00M	236.00M	236.00M	296.00M	296.00M
Retained Earnings	38,103.00M	37,693.00M	36,797.00M	37,479.00M	47,950.00M	45,821.00M	43,761.00M	42,135.00M	40,636.00M	39,115.00M	37,907.00M	36,575.00M	34,317.00M	32,416.00M	30,679.00M	28,348.00M	25,995.00M	23,753.00M	22,248.00M	20,316.00M	17,933.00M	17,358.00M	15,649.00M	14,010.00M	12,748.00M	11,914.00M	11,517.00M	10,741.00M	9,980.00M	9,848.00M	8,756.00M	9,164.00M
Accumulated OCI	-5,122.00M	-5,215.00M	-5,731.00M	-6,778.00M	-6,673.00M	-6,750.00M	-7,661.00M	-8,139.00M	-6,866.00M	-7,026.00M	-7,245.00M	-6,359.00M	-6,289.00M	-3,913.00M	-4,750.00M	-5,025.00M	-3,543.00M	-3,754.00M	-3,646.00M	-747.00M	-1,873.00M	-411.00M	132.00M	-1,554.00M	-2,284.00M	-1,491.00M	-1,217.00M	-915.00M	-858.00M	-918.00M	-575.00M	-523.00M
Minority Interest	47.00M	61.00M	52.00M	61.00M	48.00M	71.00M	64.00M	63.00M	52.00M	59.00M	45.00M	39.00M	33.00M	446.00M	465.00M	442.00M	354.00M	538.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	527.00M	346.00M	371.00M	390.00M	361.00M	373.00M	483.00M
Total Shareholders’ Equity	32,990.00M	32,487.00M	31,075.00M	30,710.00M	41,286.00M	39,080.00M	36,109.00M	34,005.00M	33,779.00M	32,098.00M	30,671.00M	30,225.00M	28,037.00M	28,512.00M	25,938.00M	23,332.00M	22,461.00M	20,008.00M	18,611.00M	19,578.00M	16,069.00M	16,956.00M	15,790.00M	12,465.00M	10,469.00M	10,428.00M	10,305.00M	10,062.00M	9,358.00M	9,166.00M	8,477.00M	8,937.00M
Total Equity	33,037.00M	32,548.00M	31,127.00M	30,771.00M	41,334.00M	39,151.00M	36,173.00M	34,068.00M	33,831.00M	32,157.00M	30,716.00M	30,264.00M	28,070.00M	28,958.00M	26,403.00M	23,774.00M	22,815.00M	20,546.00M	18,611.00M	19,578.00M	16,069.00M	16,956.00M	15,790.00M	12,465.00M	10,469.00M	10,955.00M	10,651.00M	10,433.00M	9,748.00M	9,527.00M	8,850.00M	9,420.00M
Total Liabilities & Equity	56,146.00M	66,766.00M	67,716.00M	77,199.00M	73,935.00M	72,053.00M	71,544.00M	69,566.00M	60,558.00M	58,029.00M	52,824.00M	50,604.00M	45,196.00M	44,599.00M	41,398.00M	38,627.00M	37,030.00M	34,578.00M	34,425.00M	32,558.00M	27,419.00M	27,896.00M	26,136.00M	22,178.00M	19,349.00M	18,948.00M	18,296.00M	17,669.00M	17,575.00M	16,478.00M	15,557.00M	16,236.00M
Tangible Assets	30,068.00M	30,394.00M	32,377.00M	42,875.00M	28,966.00M	28,298.00M	27,707.00M	24,836.00M	23,792.00M	24,538.00M	21,403.00M	21,033.00M	21,937.00M	24,517.00M	24,566.00M	22,653.00M	21,516.00M	20,076.00M	18,467.00M	19,304.00M	16,504.00M	16,582.00M	17,776.00M	14,907.00M	13,610.00M	13,393.00M	13,670.00M	13,293.00M	14,153.00M	13,238.00M	13,364.00M	14,183.00M
Tangible Equity	25,494.00M	24,953.00M	23,636.00M	23,066.00M	23,845.00M	20,377.00M	16,536.00M	14,245.00M	21,123.00M	18,708.00M	19,230.00M	18,414.00M	19,585.00M	19,925.00M	17,093.00M	14,811.00M	14,175.00M	13,372.00M	11,460.00M	14,188.00M	11,279.00M	12,997.00M	12,858.00M	9,772.00M	8,302.00M	9,742.00M	9,799.00M	9,776.00M	9,748.00M	9,527.00M	8,850.00M	9,420.00M
Tangible Book Value	25,494.00M	24,953.00M	23,636.00M	23,066.00M	23,845.00M	20,377.00M	16,536.00M	14,245.00M	21,123.00M	18,708.00M	19,230.00M	18,414.00M	19,585.00M	19,925.00M	17,093.00M	14,811.00M	14,175.00M	13,372.00M	11,460.00M	14,188.00M	11,279.00M	12,997.00M	12,858.00M	9,772.00M	8,302.00M	9,742.00M	9,799.00M	9,776.00M	9,748.00M	9,527.00M	8,850.00M	9,420.00M
Total Investments	517.00M	502.00M	4,633.00M	260.00M	1,205.00M	463.00M	618.00M	294.00M	568.00M	1,226.00M	408.00M	244.00M	1,556.00M	2,331.00M	2,973.00M	2,512.00M	1,787.00M	1,672.00M	836.00M	1,357.00M	951.00M	272.00M	227.00M	218.00M	238.00M	0.00M	0.00M	54.00M	237.00M	247.00M	161.00M	287.00M
Net Debt	8,864.00M	10,014.00M	8,059.00M	11,016.00M	13,200.00M	13,746.00M	15,119.00M	18,925.00M	11,844.00M	10,956.00M	9,297.00M	8,390.00M	4,999.00M	3,486.00M	2,631.00M	2,439.00M	2,169.00M	2,777.00M	4,927.00M	3,093.00M	2,171.00M	1,368.00M	135.00M	1,171.00M	2,761.00M	2,277.00M	2,535.00M	2,223.00M	2,895.00M	2,284.00M	1,385.00M	1,540.00M

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	7,356.0M	5,619.0M	4,628.0M	1,082.0M	5,165.0M	6,368.0M	7,034.0M	3,749.0M	6,465.0M	6,590.0M	5,507.0M	3,868.0M	5,767.0M	5,235.0M	7,430.0M	6,799.0M	6,126.0M	5,898.0M	3,759.0M	4,476.0M	1,623.0M	1,877.0M	2,649.0M	2,638.0M	1,602.0M	1,787.0M	1,625.0M	2,247.0M	1,932.0M	2,185.0M	2,697.0M	2,671.0M
Total Capital	18,163.0M	18,016.0M	17,501.0M	21,558.0M	31,577.0M	33,356.0M	32,620.0M	31,341.0M	24,493.0M	25,572.0M	21,993.0M	22,272.0M	19,979.0M	23,569.0M	23,647.0M	20,665.0M	21,209.0M	18,581.0M	16,656.0M	16,736.0M	13,577.0M	12,835.0M	13,270.0M	10,892.0M	9,372.0M	8,979.0M	9,368.0M	8,899.0M	9,042.0M	8,440.0M	8,252.0M	8,909.0M
Capital Employed	28,878.0M	30,181.0M	28,612.0M	35,283.0M	36,932.0M	38,037.0M	39,396.0M	35,437.0M	29,256.0M	30,300.0M	26,687.0M	25,600.0M	25,271.0M	26,052.0M	27,676.0M	26,175.0M	24,067.0M	22,353.0M	19,708.0M	19,332.0M	13,971.0M	15,275.0M	14,637.0M	12,518.0M	10,872.0M	10,097.0M	9,768.0M	10,077.0M	9,767.0M	9,255.0M	9,575.0M	10,459.0M
Invested Capital	13,492.0M	14,304.0M	11,901.0M	15,823.0M	27,922.0M	28,792.0M	27,986.0M	28,988.0M	21,640.0M	22,519.0M	19,595.0M	20,474.0M	18,082.0M	20,988.0M	20,764.0M	18,446.0M	17,832.0M	15,541.0M	14,807.0M	14,840.0M	12,130.0M	11,763.0M	10,513.0M	9,056.0M	8,754.0M	8,363.0M	9,066.0M	8,512.0M	8,831.0M	8,210.0M	7,669.0M	8,424.0M

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	5,263.00M	4,407.00M	4,188.00M	-6,995.00M	5,791.00M	5,929.00M	5,388.00M	4,582.00M	5,363.00M	4,869.00M	5,058.00M	4,841.00M	4,998.00M	4,721.00M	4,511.00M	4,357.00M	4,163.00M	3,193.00M	3,460.00M	4,096.00M	3,851.00M	3,199.00M	2,990.00M	2,403.00M	1,974.00M	1,430.00M	1,782.00M	1,763.00M	1,175.00M	2,121.00M	1,526.00M	976.00M
Depreciation & Amortization	1,780.00M	1,578.00M	1,363.00M	1,987.00M	1,831.00M	1,915.00M	1,911.00M	1,593.00M	1,488.00M	1,544.00M	1,474.00M	1,435.00M	1,408.00M	1,371.00M	1,288.00M	1,156.00M	771.00M	0.00M	786.00M	0.00M	0.00M	0.00M	0.00M	905.00M	954.00M	1,089.00M	1,025.00M	900.00M	866.00M	870.00M	883.00M	859.00M
Deferred Income Tax	543.00M	-94.00M	321.00M	-3,855.00M	-663.00M	-166.00M	-165.00M	-273.00M	-57.00M	107.00M	7.00M	395.00M	-146.00M	-167.00M	33.00M	177.00M	-170.00M	701.00M	118.00M	11.00M	-316.00M	0.00M	0.00M	115.00M	579.00M	1.00M	89.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	358.00M	294.00M	289.00M	274.00M	263.00M	274.00M	262.00M	278.00M	302.00M	324.00M	298.00M	276.00M	280.00M	240.00M	223.00M	253.00M	274.00M	217.00M	202.00M	228.00M	200.00M	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	-630.00M	-5,169.00M	-5,223.00M	317.00M	-670.00M	-751.00M	458.00M	803.00M	-272.00M	359.00M	-7.00M	-790.00M	-100.00M	-160.00M	-254.00M	-520.00M	-143.00M	534.00M	-163.00M	20.00M	-148.00M	27.00M	585.00M	1,006.00M	497.00M	488.00M	-695.00M	313.00M	416.00M	-405.00M	-83.00M	-230.00M
Accounts Receivable	-669.00M	114.00M	114.00M	0.00M	-105.00M	-122.00M	165.00M	345.00M	-305.00M	-245.00M	-313.00M	-58.00M	-268.00M	-337.00M	-133.00M	-205.00M	-189.00M	55.00M	197.00M	-35.00M	-103.00M	-184.00M	56.00M	38.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-119.00M	159.00M	41.00M	567.00M	-629.00M	-903.00M	-91.00M	370.00M	-509.00M	-387.00M	57.00M	3.00M	-113.00M	-86.00M	-251.00M	-196.00M	-404.00M	453.00M	-127.00M	-54.00M	-309.00M	-294.00M	7.00M	281.00M	279.00M	194.00M	-261.00M	96.00M	195.00M	-295.00M	-75.00M	-51.00M
Accounts Payable	287.00M	28.00M	46.00M	138.00M	111.00M	518.00M	252.00M	-117.00M	408.00M	24.00M	148.00M	9.00M	75.00M	16.00M	72.00M	-83.00M	146.00M	109.00M	-224.00M	-4.00M	68.00M	113.00M	35.00M	112.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-129.00M	-5,470.00M	-5,424.00M	-388.00M	-47.00M	-244.00M	132.00M	205.00M	134.00M	967.00M	101.00M	-744.00M	206.00M	247.00M	58.00M	-36.00M	304.00M	-83.00M	-9.00M	113.00M	196.00M	392.00M	487.00M	575.00M	218.00M	294.00M	-434.00M	217.00M	221.00M	-110.00M	-8.00M	-179.00M
Other Non-Cash Items	-5,806.00M	971.00M	881.00M	14,952.00M	-961.00M	253.00M	259.00M	87.00M	-385.00M	-963.00M	-168.00M	263.00M	186.00M	-188.00M	-501.00M	-139.00M	279.00M	296.00M	130.00M	-80.00M	252.00M	1,032.00M	707.00M	34.00M	74.00M	70.00M	28.00M	62.00M	-83.00M	-880.00M	-115.00M	655.00M
Net Cash from Operating Activities	1,508.00M	1,987.00M	1,819.00M	6,680.00M	5,591.00M	7,454.00M	8,113.00M	7,070.00M	6,439.00M	6,240.00M	6,662.00M	6,420.00M	6,626.00M	5,817.00M	5,300.00M	5,284.00M	5,174.00M	4,941.00M	4,533.00M	4,275.00M	3,839.00M	4,258.00M	4,282.00M	3,773.00M	2,992.00M	3,078.00M	2,326.00M	3,038.00M	2,374.00M	1,706.00M	2,211.00M	2,260.00M
Capital Expenditures (PPE)	-1,397.00M	-1,248.00M	-1,181.00M	-1,615.00M	-1,749.00M	-1,603.00M	-1,501.00M	-1,699.00M	-1,577.00M	-1,373.00M	-1,420.00M	-1,461.00M	-1,493.00M	-1,665.00M	-1,484.00M	-1,379.00M	-1,091.00M	-903.00M	-1,471.00M	-1,422.00M	-1,168.00M	-943.00M	-937.00M	-677.00M	-763.00M	-980.00M	-1,115.00M	-1,039.00M	-1,430.00M	-1,406.00M	-1,109.00M	-1,088.00M
Acquisitions (Net)	-50.00M	60.00M	0.00M	60.00M	491.00M	51.00M	551.00M	-4,748.00M	859.00M	-958.00M	-16.00M	-2,914.00M	-94.00M	8.00M	-1,046.00M	-649.00M	-1,830.00M	-69.00M	-1,306.00M	358.00M	321.00M	-1,293.00M	-73.00M	-439.00M	-1,258.00M	-218.00M	-472.00M	-374.00M	-265.00M	-40.00M	-263.00M	-49.00M
Purchases of Investments	-3,191.00M	-2,543.00M	-4,153.00M	-1,466.00M	-1,250.00M	-2,202.00M	-1,579.00M	-1,635.00M	-1,828.00M	-798.00M	-163.00M	-652.00M	-1,280.00M	-4,040.00M	-211.00M	-4,162.00M	-3,287.00M	-2,240.00M	-2,211.00M	-8,194.00M	-3,253.00M	-1,627.00M	-10.00M	-16.00M	-7.00M	-12.00M	-12.00M	-67.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	6,367.00M	1,390.00M	2,074.00M	1,660.00M	1,261.00M	2,406.00M	1,811.00M	1,443.00M	669.00M	1,354.00M	1,247.00M	1,300.00M	754.00M	627.00M	5,281.00M	3,417.00M	273.00M	1,401.00M	2,502.00M	6,902.00M	2,591.00M	1,581.00M	13.00M	34.00M	18.00M	47.00M	121.00M	9.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	170.00M	-20.00M	54.00M	154.00M	201.00M	31.00M	138.00M	195.00M	2,099.00M	-1,311.00M	-1,051.00M	910.00M	1,517.00M	4,214.00M	-5,226.00M	55.00M	3,246.00M	79.00M	87.00M	989.00M	49.00M	41.00M	69.00M	129.00M	83.00M	113.00M	105.00M	357.00M	123.00M	1,089.00M	111.00M	-71.00M
Net Cash from Investing Activities	1,899.00M	-2,361.00M	-3,206.00M	-1,207.00M	-1,046.00M	-1,317.00M	-580.00M	-6,444.00M	222.00M	-3,086.00M	-1,403.00M	-2,817.00M	-596.00M	-856.00M	-2,686.00M	-2,718.00M	-2,689.00M	-1,732.00M	-2,399.00M	-1,367.00M	-1,460.00M	-2,241.00M	-938.00M	-969.00M	-1,927.00M	-1,050.00M	-1,373.00M	-1,114.00M	-1,572.00M	-357.00M	-1,261.00M	-1,208.00M
Net Debt Issuance	-859.00M	5,401.00M	5,506.00M	-46.00M	-838.00M	-1,145.00M	-1,875.00M	3,249.00M	933.00M	1,603.00M	1,043.00M	3,482.00M	1,010.00M	-37.00M	722.00M	-307.00M	-472.00M	-1,014.00M	1,037.00M	1,222.00M	1,135.00M	-485.00M	-111.00M	-440.00M	445.00M	109.00M	236.00M	-341.00M	571.00M	477.00M	82.00M	26.00M
Long-Term Debt Issuance	-859.00M	5,886.00M	5,711.00M	-251.00M	-1,178.00M	-1,143.00M	-1,732.00M	3,565.00M	1,217.00M	1,025.00M	1,840.00M	2,622.00M	983.00M	-35.00M	758.00M	-318.00M	-448.00M	-478.00M	676.00M	2,444.00M	253.00M	-227.00M	-510.00M	-225.00M	649.00M	129.00M	236.00M	-341.00M	571.00M	477.00M	82.00M	26.00M
Short-Term Debt Issuance	0.00M	-485.00M	-205.00M	205.00M	340.00M	-2.00M	-143.00M	-316.00M	-284.00M	578.00M	-797.00M	860.00M	27.00M	-2.00M	-36.00M	11.00M	-24.00M	-536.00M	361.00M	-1,222.00M	882.00M	-258.00M	399.00M	-215.00M	-204.00M	-20.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-5,631.00M	-1,080.00M	-1,801.00M	-33.00M	-1,464.00M	-1,560.00M	61.00M	-1,407.00M	-4,870.00M	-2,068.00M	-3,753.00M	-5,238.00M	-5,652.00M	-5,212.00M	-2,204.00M	-1,799.00M	-188.00M	414.00M	-1,342.00M	-2,443.00M	-1,828.00M	-1,832.00M	-1,283.00M	-130.00M	-420.00M	-860.00M	-389.00M	-478.00M	-369.00M	-1,338.00M	-264.00M	-137.00M
Common 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	902.00M	666.00M	431.00M	289.00M	796.00M	523.00M	545.00M	508.00M	555.00M	522.00M	462.00M	425.00M	347.00M	249.00M	355.00M	268.00M	214.00M
Common Stock Repurchased	-5,631.00M	-1,098.00M	-1,801.00M	-33.00M	-1,464.00M	-2,199.00M	-368.00M	-1,407.00M	-4,870.00M	-2,068.00M	-3,753.00M	-5,238.00M	-5,652.00M	-5,212.00M	-2,204.00M	-2,701.00M	-854.00M	-17.00M	-1,631.00M	-3,239.00M	-2,351.00M	-2,377.00M	-1,791.00M	-685.00M	-942.00M	-1,322.00M	-814.00M	-825.00M	-618.00M	-1,693.00M	-532.00M	-351.00M
Preferred Stock Issuance	0.00M	18.00M	0.00M	0.00M	0.00M	639.00M	429.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	902.00M	666.00M	0.00M	0.00M	0.00M	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	-2,339.00M	-2,432.00M	-1,982.00M	-3,311.00M	-3,369.00M	-3,420.00M	-3,388.00M	-3,316.00M	-3,193.00M	-2,803.00M	-2,678.00M	-2,561.00M	-2,216.00M	-1,730.00M	-1,635.00M	-1,555.00M	-1,500.00M	-1,431.00M	-1,398.00M	-1,380.00M	-1,376.00M	-1,286.00M	-1,125.00M	-1,034.00M	-968.00M	-948.00M	-918.00M	-901.00M	-887.00M	-876.00M	-803.00M	-790.00M
Common Dividends Paid	-2,339.00M	-2,432.00M	-1,982.00M	-3,311.00M	-3,369.00M	-3,420.00M	-3,388.00M	-3,316.00M	-3,193.00M	-2,803.00M	-2,678.00M	-2,561.00M	-2,216.00M	-1,730.00M	-1,635.00M	-1,555.00M	-1,500.00M	-1,431.00M	-1,398.00M	-1,380.00M	-1,376.00M	-1,286.00M	-1,125.00M	-1,034.00M	-968.00M	-948.00M	-918.00M	-901.00M	-887.00M	-876.00M	-803.00M	-790.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	2,159.00M	-635.00M	-625.00M	243.00M	321.00M	-20.00M	-98.00M	350.00M	429.00M	613.00M	762.00M	669.00M	255.00M	1,733.00M	1,059.00M	-14.00M	39.00M	17.00M	-63.00M	54.00M	8.00M	-22.00M	-15.00M	-23.00M	-78.00M	-17.00M	-60.00M	-51.00M	-53.00M	-22.00M	79.00M	0.00M
Net Cash from Financing Activities	-6,670.00M	1,254.00M	1,098.00M	-3,147.00M	-5,350.00M	-6,145.00M	-5,300.00M	-1,124.00M	-6,701.00M	-2,655.00M	-4,626.00M	-3,648.00M	-6,603.00M	-5,246.00M	-2,058.00M	-3,675.00M	-2,121.00M	-2,014.00M	-1,766.00M	-2,547.00M	-2,061.00M	-3,679.00M	-2,534.00M	-1,627.00M	-1,021.00M	-1,716.00M	-1,131.00M	-1,728.00M	-738.00M	-1,759.00M	-906.00M	-901.00M
Effect of FX on Cash	-4.00M	30.00M	-44.00M	-48.00M	-104.00M	-62.00M	48.00M	-2.00M	-160.00M	156.00M	-33.00M	-54.00M	-111.00M	-17.00M	108.00M	-49.00M	-27.00M	-4.00M	-415.00M	88.00M	57.00M	-23.00M	111.00M	41.00M	-42.00M	2.00M	93.00M	-20.00M	-83.00M	57.00M	54.00M	37.00M
Net Change in Cash	-3,267.00M	910.00M	-333.00M	2,278.00M	-909.00M	-70.00M	2,281.00M	-500.00M	-200.00M	655.00M	600.00M	-99.00M	-684.00M	-302.00M	664.00M	-1,158.00M	337.00M	1,191.00M	-47.00M	449.00M	375.00M	-1,685.00M	921.00M	1,218.00M	2.00M	314.00M	-85.00M	176.00M	-19.00M	-353.00M	98.00M	188.00M
Cash at Beginning of Period	23,576.00M	32,067.00M	5,933.00M	3,655.00M	4,564.00M	4,634.00M	2,353.00M	2,853.00M	3,053.00M	2,398.00M	1,798.00M	1,897.00M	2,581.00M	2,883.00M	2,219.00M	3,377.00M	3,040.00M	1,849.00M	1,896.00M	1,447.00M	1,072.00M	2,757.00M	1,836.00M	618.00M	616.00M	302.00M	387.00M	211.00M	230.00M	583.00M	485.00M	297.00M
Cash at End of Period	20,309.00M	32,977.00M	5,600.00M	5,933.00M	3,655.00M	4,564.00M	4,634.00M	2,353.00M	2,853.00M	3,053.00M	2,398.00M	1,798.00M	1,897.00M	2,581.00M	2,883.00M	2,219.00M	3,377.00M	3,040.00M	1,849.00M	1,896.00M	1,447.00M	1,072.00M	2,757.00M	1,836.00M	618.00M	616.00M	302.00M	387.00M	211.00M	230.00M	583.00M	485.00M
Operating Cash Flow	1,508.00M	1,987.00M	1,819.00M	6,680.00M	5,591.00M	7,454.00M	8,113.00M	7,070.00M	6,439.00M	6,240.00M	6,662.00M	6,420.00M	6,626.00M	5,817.00M	5,300.00M	5,284.00M	5,174.00M	4,941.00M	4,533.00M	4,275.00M	3,839.00M	4,258.00M	4,282.00M	3,773.00M	2,992.00M	3,078.00M	2,326.00M	3,038.00M	2,374.00M	1,706.00M	2,211.00M	2,260.00M
Capital Expenditure	-1,397.00M	-1,248.00M	-1,181.00M	-1,615.00M	-1,749.00M	-1,603.00M	-1,501.00M	-1,699.00M	-1,577.00M	-1,373.00M	-1,420.00M	-1,461.00M	-1,493.00M	-1,665.00M	-1,484.00M	-1,379.00M	-1,091.00M	-903.00M	-1,471.00M	-1,422.00M	-1,168.00M	-943.00M	-937.00M	-677.00M	-763.00M	-980.00M	-1,115.00M	-1,039.00M	-1,430.00M	-1,406.00M	-1,109.00M	-1,088.00M
Free Cash Flow	111.00M	739.00M	638.00M	5,065.00M	3,842.00M	5,851.00M	6,612.00M	5,371.00M	4,862.00M	4,867.00M	5,242.00M	4,959.00M	5,133.00M	4,152.00M	3,816.00M	3,905.00M	4,083.00M	4,038.00M	3,062.00M	2,853.00M	2,671.00M	3,315.00M	3,345.00M	3,096.00M	2,229.00M	2,098.00M	1,211.00M	1,999.00M	944.00M	300.00M	1,102.00M	1,172.00M

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	6,221.00M	10,466.00M	6,155.00M	5,480.00M	5,904.00M	9,441.00M	8,868.00M	8,567.00M	9,262.00M	8,770.00M	8,493.00M	8,306.00M	8,528.00M	8,031.00M	7,764.00M	7,494.00M	7,109.00M	6,143.00M	6,662.00M	6,457.00M	6,236.00M	5,870.00M	5,577.00M	4,770.00M	4,000.00M	3,274.00M	3,898.00M	3,828.00M	3,398.00M	3,545.00M	3,374.00M	3,159.00M
(-) Tax Adjustment	1,240.70M	1,763.88M	1,024.98M	1,396.18M	564.31M	1,681.69M	1,746.17M	1,694.80M	2,165.98M	3,069.50M	2,402.32M	2,412.79M	2,461.54M	2,253.13M	2,249.37M	2,080.08M	1,966.56M	1,840.78M	2,071.12M	2,073.84M	1,910.16M	1,978.15M	1,840.23M	1,567.83M	1,285.86M	1,051.39M	1,343.46M	1,339.80M	1,189.30M	1,240.75M	1,180.90M	1,105.65M
(-) Change In Working Capital	-630.00M	-5,169.00M	-5,223.00M	317.00M	-670.00M	-751.00M	458.00M	803.00M	-272.00M	359.00M	-7.00M	-790.00M	-100.00M	-160.00M	-254.00M	-520.00M	-143.00M	534.00M	-163.00M	20.00M	-148.00M	27.00M	585.00M	1,006.00M	497.00M	488.00M	-695.00M	313.00M	416.00M	-405.00M	-83.00M	-230.00M
(-) Capital Expenditure	-1,397.00M	-1,248.00M	-1,181.00M	-1,615.00M	-1,749.00M	-1,603.00M	-1,501.00M	-1,699.00M	-1,577.00M	-1,373.00M	-1,420.00M	-1,461.00M	-1,493.00M	-1,665.00M	-1,484.00M	-1,379.00M	-1,091.00M	-903.00M	-1,471.00M	-1,422.00M	-1,168.00M	-943.00M	-937.00M	-677.00M	-763.00M	-980.00M	-1,115.00M	-1,039.00M	-1,430.00M	-1,406.00M	-1,109.00M	-1,088.00M
Unlevered Free Cash Flow	4,213.30M	12,623.12M	9,172.02M	2,151.82M	4,260.69M	6,907.31M	5,162.83M	4,370.20M	5,791.02M	3,968.50M	4,677.68M	5,222.21M	4,673.46M	4,272.87M	4,284.63M	4,554.92M	4,194.44M	2,865.22M	3,282.88M	2,941.16M	3,305.84M	2,921.85M	2,214.77M	1,519.17M	1,454.14M	754.61M	2,134.54M	1,136.20M	362.70M	1,303.25M	1,167.10M	1,195.35M
(-) Net Interest Income After Taxes	-561.99M	-703.42M	-608.43M	-508.24M	-389.80M	-354.23M	-420.82M	-281.56M	-130.24M	-22.10M	-127.65M	-144.03M	-48.37M	29.50M	-129.27M	-83.08M	-128.04M	-84.04M	-75.80M	-52.95M	-49.25M	-17.24M	-15.41M	-37.59M	-27.82M	-59.06M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	-859.00M	5,401.00M	5,506.00M	-46.00M	-838.00M	-1,145.00M	-1,875.00M	3,249.00M	933.00M	1,603.00M	1,043.00M	3,482.00M	1,010.00M	-37.00M	722.00M	-307.00M	-472.00M	-1,014.00M	1,037.00M	1,222.00M	1,135.00M	-485.00M	-111.00M	-440.00M	445.00M	109.00M	236.00M	-341.00M	571.00M	477.00M	82.00M	26.00M
Levered Free Cash Flow	3,916.29M	18,727.54M	15,286.45M	2,614.07M	3,812.50M	6,116.54M	3,708.65M	7,900.76M	6,854.26M	5,593.60M	5,848.34M	8,848.24M	5,731.83M	4,206.37M	5,135.90M	4,331.00M	3,850.48M	1,935.26M	4,395.69M	4,216.11M	4,490.10M	2,454.09M	2,119.18M	1,116.77M	1,926.96M	922.67M	2,370.54M	795.20M	933.70M	1,780.25M	1,249.10M	1,221.35M