Bunge Limited (0U6R.L)

Industry: Agricultural Farm Products Sector: Consumer Defensive Currency Used: US Live Price: $106.62

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
Stock Price	80.28	76.42	78.35	96.00	99.77	95.96	83.03	48.36	55.82	66.18	72.60	61.82	77.94	82.57	75.83	67.90	64.19	58.88	60.84	77.38	97.87	59.11	56.63	44.04	28.55	22.67	18.07
Market Capitalization	10,918.08M	10,244.99M	10,581.53M	13,547.02M	14,841.51M	14,543.02M	11,714.14M	6,797.24M	7,899.21M	9,204.98M	10,189.08M	8,644.18M	11,188.97M	12,051.19M	11,163.65M	9,888.17M	9,408.72M	8,405.97M	7,765.59M	9,402.55M	11,808.47M	7,067.81M	6,392.86M	4,704.74M	2,846.70M	2,179.07M	1,332.81M
(-) Cash & Equivalents	6,790.00M	3,245.00M	5,017.50M	2,561.75M	2,289.25M	816.00M	656.25M	278.25M	328.25M	291.00M	560.25M	575.50M	380.00M	468.50M	937.75M	744.00M	793.00M	1,274.50M	660.25M	1,080.25M	694.25M	302.75M	358.25M	522.25M	456.75M	306.00M	236.25M
(+) Total Debt	12,213.00M	7,661.00M	9,937.00M	6,520.25M	6,054.00M	6,668.50M	7,499.75M	6,982.00M	6,798.00M	6,930.75M	5,416.75M	5,481.00M	4,516.00M	7,501.50M	10,557.00M	7,241.50M	5,193.75M	4,065.50M	4,206.50M	4,653.75M	4,541.00M	3,602.00M	3,555.00M	3,505.00M	3,117.50M	2,143.25M	2,119.50M
Enterprise Value	16,341.08M	14,660.99M	15,501.03M	17,505.52M	18,606.26M	20,395.52M	18,557.64M	13,500.99M	14,368.96M	15,844.73M	15,045.58M	13,549.68M	15,324.97M	19,084.19M	20,782.90M	16,385.67M	13,809.47M	11,196.97M	11,311.84M	12,976.05M	15,655.22M	10,367.06M	9,589.61M	7,687.49M	5,507.45M	4,016.32M	3,216.06M

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
Revenue	60,109M	54,502M	53,108M	59,540M	67,232M	59,152M	41,404M	41,140M	45,743M	45,794M	42,679M	43,455M	57,161M	61,347M	60,991M	56,097M	43,953M	41,926M	52,574M	37,842M	26,274M	24,377M	25,168M	22,165M	13,882M	11,302M	9,667M	7,950M
Cost of Revenue	56,630M	50,936M	49,715M	54,695M	63,550M	55,789M	38,619M	40,598M	43,477M	44,029M	40,269M	40,762M	54,540M	58,587M	58,418M	53,470M	41,640M	40,722M	48,538M	35,327M	24,703M	22,806M	23,282M	20,860M	12,544M	10,331M	8,935M	7,332M
Gross Profit	3,479M	3,566M	3,393M	4,845M	3,682M	3,363M	2,785M	542M	2,266M	1,765M	2,410M	2,693M	2,621M	2,760M	2,573M	2,627M	2,313M	1,204M	4,036M	2,515M	1,571M	1,571M	1,886M	1,305M	1,338M	971M	732M	618M
Gross Profit Margin	5.8%	6.5%	6.4%	8.1%	5.5%	5.7%	6.7%	1.3%	5.0%	3.9%	5.6%	6.2%	4.6%	4.5%	4.2%	4.7%	5.3%	2.9%	7.7%	6.6%	6.0%	6.4%	7.5%	5.9%	9.6%	8.6%	7.6%	7.8%
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
SG&A Expenses	1,927M	1,820M	1,776M	1,715M	1,369M	1,234M	1,358M	1,351M	1,423M	1,437M	1,284M	1,435M	1,691M	1,559M	1,563M	1,436M	1,455M	1,342M	1,613M	1,359M	978M	956M	871M	691M	579M	423M	387M	321M
Operating Expenses	1,927M	1,820M	1,776M	1,715M	1,369M	1,234M	1,358M	1,351M	1,423M	1,437M	1,284M	1,435M	1,691M	1,559M	1,563M	1,436M	1,455M	1,342M	1,613M	1,359M	978M	956M	982M	582M	857M	707M	687M	321M
Operating Income (EBIT)	1,552M	1,746M	1,617M	3,130M	2,313M	2,129M	1,427M	-809M	843M	328M	1,126M	1,258M	930M	1,201M	1,010M	1,191M	858M	-138M	2,423M	1,156M	593M	615M	904M	723M	481M	264M	45M	297M
Operating Income Margin	2.6%	3.2%	3.0%	5.3%	3.4%	3.6%	3.4%	-2.0%	1.8%	0.7%	2.6%	2.9%	1.6%	2.0%	1.7%	2.1%	2.0%	-0.3%	4.6%	3.1%	2.3%	2.5%	3.6%	3.3%	3.5%	2.3%	0.5%	3.7%
Interest Income	213M	139M	163M	148M	71M	48M	22M	31M	31M	38M	51M	43M	87M	76M	53M	96M	67M	122M	214M	166M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	525M	500M	471M	516M	403M	243M	265M	339M	339M	263M	234M	258M	347M	363M	294M	295M	294M	283M	361M	353M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-312M	-361M	-308M	-368M	-332M	-195M	-243M	-308M	-308M	-225M	-183M	-215M	-260M	-287M	-241M	-199M	-227M	-161M	-147M	-187M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	538M	288M	215M	289M	85M	631M	229M	-88M	-79M	127M	53M	8M	64M	100M	-397M	28M	2,418M	524M	-705M	232M	-108M	-167M	-146M	-104M	-102M	-72M	-11M	-318M
EBT Excluding Unusual Items	1,240M	1,385M	1,309M	2,762M	1,981M	1,934M	1,184M	-1,117M	535M	103M	943M	1,043M	670M	914M	769M	992M	631M	-299M	2,276M	969M	593M	615M	904M	723M	481M	264M	45M	297M
Pre-Tax Income	1,778M	1,673M	1,524M	3,051M	2,066M	2,565M	1,413M	-1,205M	456M	230M	996M	1,051M	734M	1,014M	372M	1,020M	3,049M	225M	1,571M	1,201M	485M	448M	758M	619M	379M	192M	34M	-21M
Pre-Tax Margin	3.0%	3.1%	2.9%	5.1%	3.1%	4.3%	3.4%	-2.9%	1.0%	0.5%	2.3%	2.4%	1.3%	1.7%	0.6%	1.8%	6.9%	0.5%	3.0%	3.2%	1.8%	1.8%	3.0%	2.8%	2.7%	1.7%	0.4%	-0.3%
Income Tax Expense	390M	455M	336M	714M	388M	398M	248M	86M	179M	56M	220M	296M	249M	904M	-6M	55M	699M	-110M	245M	310M	-36M	-82M	289M	201M	104M	68M	12M	-27M
Net Income	1,323M	1,151M	1,137M	2,243M	1,610M	2,078M	1,145M	-1,280M	267M	160M	745M	791M	515M	306M	64M	942M	2,354M	361M	1,064M	778M	521M	530M	469M	411M	255M	134M	12M	-5M
Net Income Margin	2.2%	2.1%	2.1%	3.8%	2.4%	3.5%	2.8%	-3.1%	0.6%	0.3%	1.7%	1.8%	0.9%	0.5%	0.1%	1.7%	5.4%	0.9%	2.0%	2.1%	2.0%	2.2%	1.9%	1.9%	1.8%	1.2%	0.1%	-0.1%
Depreciation & Amortization	600M	479M	468M	451M	408M	424M	435M	548M	622M	609M	547M	545M	607M	568M	570M	526M	443M	443M	439M	385M	324M	278M	212M	184M	168M	163M	149M	0M
EBITDA	2,152M	2,225M	2,085M	3,581M	2,721M	2,553M	1,862M	-261M	1,465M	937M	1,673M	1,803M	1,537M	1,769M	1,580M	1,717M	1,301M	305M	2,862M	1,541M	917M	893M	1,116M	907M	649M	427M	194M	297M
EBITDA Margin	3.6%	4.1%	3.9%	6.0%	4.0%	4.3%	4.5%	-0.6%	3.2%	2.0%	3.9%	4.1%	2.7%	2.9%	2.6%	3.1%	3.0%	0.7%	5.4%	4.1%	3.5%	3.7%	4.4%	4.1%	4.7%	3.8%	2.0%	3.7%
NOPAT	1,212M	1,271M	1,260M	2,398M	1,879M	1,799M	1,177M	-639M	512M	248M	877M	904M	615M	130M	1,026M	1,127M	661M	-205M	2,045M	858M	637M	728M	559M	488M	349M	171M	29M	235M
NOPAT Margin	2.0%	2.3%	2.4%	4.0%	2.8%	3.0%	2.8%	-1.6%	1.1%	0.5%	2.1%	2.1%	1.1%	0.2%	1.7%	2.0%	1.5%	-0.5%	3.9%	2.3%	2.4%	3.0%	2.2%	2.2%	2.5%	1.5%	0.3%	3.0%
Owner's Earnings	1,434M	426M	229M	1,572M	1,463M	2,103M	1,215M	-1,256M	396M	107M	508M	687M	283M	-168M	-461M	343M	1,725M	-114M	607M	505M	342M	286M	244M	291M	181M	67M	-23M	-5M
Owner's Earnings Margin	2.4%	0.8%	0.4%	2.6%	2.2%	3.6%	2.9%	-3.1%	0.9%	0.2%	1.2%	1.6%	0.5%	-0.3%	-0.8%	0.6%	3.9%	-0.3%	1.2%	1.3%	1.3%	1.2%	1.0%	1.3%	1.3%	0.6%	-0.2%	-0.1%
EPS (Basic)	9.46	8.00	8.09	15.07	10.74	14.49	8.02	-9.32	1.65	0.90	5.07	5.18	4.19	1.57	0.19	6.07	16.20	2.11	8.11	6.11	4.32	4.73	4.42	4.12	2.66	1.87	0.19	-0.08
EPS (Diluted)	9.67	7.97	8.01	14.88	10.51	13.64	7.65	-9.05	1.88	1.13	5.03	5.20	3.50	2.06	0.44	6.07	15.06	2.83	7.73	5.95	4.28	4.43	4.10	3.83	2.63	1.86	0.19	-0.08
Shares (Basic)	136M	143M	140M	149M	149M	141M	141M	141M	141M	140M	140M	142M	146M	147M	146M	155M	141M	124M	122M	121M	121M	112M	106M	100M	96M	72M	64M	63M
Shares (Diluted)	137M	144M	142M	151M	153M	152M	150M	141M	142M	141M	148M	152M	147M	148M	147M	155M	156M	128M	138M	131M	122M	120M	114M	107M	97M	72M	64M	63M

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
Cash & Cash Equivalents	1,325.00M	6,790.00M	3,311.00M	2,602.00M	1,104.00M	902.00M	352.00M	320.00M	389.00M	601.00M	934.00M	411.00M	362.00M	742.00M	569.00M	835.00M	1,504.00M	553.00M	1,004.00M	981.00M	365.00M	354.00M	432.00M	489.00M	470.00M	199.00M	423.00M	363.00M
Short-Term Investments	2,394.00M	347.00M	484.00M	105.00M	119.00M	520.00M	346.00M	393.00M	162.00M	213.00M	158.00M	559.00M	1,573.00M	4,632.00M	3,153.00M	1,996.00M	39.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	13.00M	12.00M	6.00M	61.00M	0.00M
Cash & Short-Term Investments	3,719.00M	7,137.00M	3,795.00M	2,707.00M	1,223.00M	1,422.00M	698.00M	713.00M	551.00M	814.00M	1,092.00M	970.00M	1,935.00M	5,374.00M	3,722.00M	2,831.00M	1,543.00M	553.00M	1,004.00M	981.00M	365.00M	354.00M	432.00M	502.00M	482.00M	205.00M	484.00M	363.00M
Net Receivables	4,500.00M	2,786.00M	2,737.00M	3,024.00M	3,296.00M	2,506.00M	2,129.00M	2,218.00M	2,239.00M	2,181.00M	2,324.00M	1,971.00M	2,189.00M	2,586.00M	2,936.00M	2,987.00M	3,401.00M	2,363.00M	2,868.00M	2,909.00M	1,879.00M	1,702.00M	1,928.00M	1,495.00M	1,168.00M	881.00M	873.00M	0.00M
Inventory	13,688.00M	8,014.00M	6,491.00M	7,105.00M	8,408.00M	8,431.00M	7,172.00M	5,038.00M	5,871.00M	5,074.00M	4,773.00M	4,466.00M	5,554.00M	5,796.00M	6,590.00M	5,733.00M	6,635.00M	4,862.00M	5,653.00M	5,924.00M	3,684.00M	2,769.00M	2,636.00M	2,867.00M	2,407.00M	1,368.00M	1,311.00M	923.00M
Other Current Assets	3,647.00M	2,499.00M	2,316.00M	2,386.00M	2,836.00M	3,160.00M	5,397.00M	1,559.00M	1,732.00M	1,515.00M	1,881.00M	2,569.00M	2,547.00M	2,980.00M	3,013.00M	2,599.00M	3,724.00M	4,005.00M	3,536.00M	4,275.00M	2,465.00M	1,739.00M	1,635.00M	1,307.00M	1,392.00M	830.00M	759.00M	-1,286.00M
Total Current Assets	25,554.00M	20,436.00M	15,339.00M	15,222.00M	15,763.00M	15,519.00M	15,396.00M	9,528.00M	10,393.00M	9,584.00M	10,070.00M	9,976.00M	12,225.00M	16,736.00M	16,261.00M	14,150.00M	15,303.00M	11,783.00M	13,061.00M	14,089.00M	8,393.00M	6,564.00M	6,631.00M	6,171.00M	5,449.00M	3,284.00M	3,427.00M	0.00M
Property, Plant & Equipment	13,297.00M	6,830.00M	6,186.00M	5,467.00M	4,641.00M	4,411.00M	4,643.00M	4,928.00M	4,538.00M	4,601.00M	4,486.00M	4,282.00M	5,057.00M	5,574.00M	5,408.00M	5,134.00M	5,312.00M	5,244.00M	3,969.00M	4,216.00M	3,446.00M	2,900.00M	2,536.00M	2,090.00M	1,965.00M	1,669.00M	1,859.00M	0.00M
Goodwill	2,769.00M	460.00M	453.00M	489.00M	470.00M	484.00M	586.00M	611.00M	727.00M	515.00M	373.00M	418.00M	349.00M	392.00M	351.00M	893.00M	934.00M	427.00M	325.00M	354.00M	236.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	328.00M	316.00M	321.00M	398.00M	360.00M	431.00M	529.00M	583.00M	697.00M	323.00M	336.00M	326.00M	256.00M	326.00M	295.00M	220.00M	186.00M	170.00M	107.00M	139.00M	99.00M	308.00M	323.00M	240.00M	345.00M	166.00M	200.00M	0.00M
Long-Term Investments	1,947.00M	1,034.00M	953.00M	1,422.00M	1,175.00M	960.00M	767.00M	910.00M	542.00M	842.00M	891.00M	378.00M	557.00M	537.00M	687.00M	637.00M	609.00M	622.00M	761.00M	706.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	789.00M	646.00M	645.00M	773.00M	712.00M	550.00M	339.00M	442.00M	458.00M	516.00M	524.00M	417.00M	565.00M	564.00M	1,213.00M	1,211.00M	1,200.00M	979.00M	864.00M	903.00M	714.00M	462.00M	273.00M	233.00M	256.00M	100.00M	169.00M	0.00M
Other Non-Current Assets	449.00M	423.00M	383.00M	473.00M	464.00M	523.00M	610.00M	595.00M	1,395.00M	1,671.00M	1,486.00M	1,177.00M	1,567.00M	1,616.00M	2,062.00M	2,052.00M	1,945.00M	2,061.00M	1,028.00M	1,155.00M	1,459.00M	1,212.00M	1,107.00M	903.00M	334.00M	224.00M	199.00M	0.00M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	4,611.00M
Total Non-Current Assets	19,579.00M	9,709.00M	8,941.00M	9,022.00M	7,822.00M	7,359.00M	7,474.00M	8,069.00M	8,357.00M	8,468.00M	8,096.00M	6,998.00M	8,351.00M	9,009.00M	10,016.00M	10,147.00M	10,186.00M	9,503.00M	7,054.00M	7,473.00M	5,954.00M	4,882.00M	4,239.00M	3,466.00M	2,900.00M	2,159.00M	2,427.00M	4,611.00M
Total Assets	45,133.00M	30,145.00M	24,280.00M	24,244.00M	23,585.00M	22,878.00M	22,870.00M	17,597.00M	18,750.00M	18,052.00M	18,166.00M	16,974.00M	20,576.00M	25,745.00M	26,277.00M	24,297.00M	25,489.00M	21,286.00M	20,115.00M	21,562.00M	14,347.00M	11,446.00M	10,870.00M	9,637.00M	8,349.00M	5,443.00M	5,854.00M	4,611.00M
Accounts Payable	4,780.00M	2,894.00M	2,777.00M	3,664.00M	4,386.00M	4,250.00M	2,636.00M	2,842.00M	3,501.00M	3,395.00M	3,485.00M	2,675.00M	3,248.00M	3,522.00M	3,319.00M	3,173.00M	3,637.00M	3,275.00M	4,158.00M	4,061.00M	2,328.00M	1,803.00M	1,898.00M	1,678.00M	1,271.00M	775.00M	839.00M	0.00M
Short-Term Debt	6,817.00M	4,225.00M	1,544.00M	802.00M	1,392.00M	1,177.00M	2,836.00M	1,278.00M	1,169.00M	634.00M	1,723.00M	1,842.00M	2,345.00M	5,935.00M	5,365.00M	2,679.00M	2,330.00M	197.00M	551.00M	1,112.00M	610.00M	589.00M	681.00M	1,017.00M	1,499.00M	983.00M	1,522.00M	0.00M
Tax Payables	0.00M	0.00M	80.00M	238.00M	156.00M	168.00M	57.00M	0.00M	0.00M	0.00M	0.00M	60.00M	0.00M	0.00M	0.00M	0.00M	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	561.00M	400.00M	501.00M	463.00M	601.00M	437.00M	406.00M	411.00M	405.00M	406.00M	395.00M	371.00M	392.00M	330.00M	223.00M	283.00M	323.00M	253.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	3,713.00M	1,428.00M	1,316.00M	1,251.00M	1,885.00M	2,253.00M	4,014.00M	1,139.00M	1,479.00M	1,174.00M	1,533.00M	1,764.00M	1,950.00M	1,956.00M	1,686.00M	1,579.00M	2,446.00M	100.00M	3,365.00M	2,590.00M	1,577.00M	1,225.00M	594.00M	634.00M	568.00M	588.00M	385.00M	0.00M
Total Current Liabilities	15,871.00M	8,947.00M	6,218.00M	6,418.00M	8,420.00M	8,285.00M	9,949.00M	5,670.00M	6,554.00M	5,609.00M	7,136.00M	6,712.00M	7,935.00M	11,743.00M	10,593.00M	7,714.00M	8,736.00M	3,825.00M	8,074.00M	7,763.00M	4,515.00M	3,617.00M	3,173.00M	3,329.00M	3,338.00M	2,346.00M	2,746.00M	0.00M
Long-Term Debt	9,809.00M	7,044.00M	4,694.00M	4,080.00M	3,259.00M	4,787.00M	4,452.00M	3,716.00M	4,203.00M	4,160.00M	3,069.00M	2,926.00M	2,855.00M	3,179.00M	3,532.00M	3,348.00M	2,551.00M	3,618.00M	3,032.00M	3,435.00M	2,874.00M	2,557.00M	2,600.00M	2,377.00M	1,904.00M	830.00M	1,003.00M	793.00M
Capital Lease Obligations	0.00M	662.00M	881.00M	874.00M	972.00M	856.00M	816.00M	755.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	925.00M	347.00M	379.00M	400.00M	365.00M	338.00M	360.00M	329.00M	356.00M	223.00M	239.00M	209.00M	177.00M	185.00M	84.00M	134.00M	84.00M	183.00M	132.00M	149.00M	180.00M	145.00M	232.00M	206.00M	253.00M	126.00M	141.00M	0.00M
Other Non-Current Liabilities	1,024.00M	761.00M	847.00M	824.00M	849.00M	658.00M	657.00M	711.00M	892.00M	916.00M	853.00M	787.00M	969.00M	757.00M	848.00M	771.00M	808.00M	913.00M	1,556.00M	1,628.00M	700.00M	576.00M	518.00M	433.00M	431.00M	272.00M	282.00M	-793.00M
Total Non-Current Liabilities	11,758.00M	8,814.00M	6,801.00M	6,178.00M	5,445.00M	6,639.00M	6,285.00M	5,511.00M	5,451.00M	5,299.00M	4,161.00M	3,922.00M	4,001.00M	4,121.00M	4,464.00M	4,253.00M	3,443.00M	4,714.00M	4,720.00M	5,212.00M	3,754.00M	3,278.00M	3,350.00M	3,016.00M	2,588.00M	1,228.00M	1,426.00M	0.00M
Total Liabilities	27,629.00M	17,761.00M	13,019.00M	12,596.00M	13,865.00M	14,924.00M	16,234.00M	11,181.00M	12,005.00M	10,908.00M	11,297.00M	10,634.00M	11,936.00M	15,864.00M	15,057.00M	11,967.00M	12,179.00M	8,539.00M	12,794.00M	12,975.00M	8,269.00M	6,895.00M	6,523.00M	6,345.00M	5,926.00M	3,574.00M	4,172.00M	0.00M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	690.00M	1,553.00M	1,553.00M	1,553.00M	690.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	2.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1.00M	1,429.00M	0.00M
Retained Earnings	13,053.00M	13,011.00M	12,838.00M	12,077.00M	10,222.00M	8,979.00M	7,236.00M	6,437.00M	8,059.00M	8,081.00M	8,208.00M	7,725.00M	7,180.00M	6,891.00M	6,792.00M	6,917.00M	6,153.00M	3,996.00M	3,844.00M	2,962.00M	2,350.00M	1,907.00M	1,440.00M	1,022.00M	653.00M	435.00M	309.00M	0.00M
Accumulated OCI	-6,107.00M	-6,123.00M	-6,702.00M	-6,054.00M	-6,371.00M	-6,471.00M	-6,246.00M	-5,624.00M	-6,935.00M	-5,930.00M	-5,978.00M	-6,360.00M	-4,058.00M	-2,572.00M	-1,410.00M	-610.00M	583.00M	319.00M	-811.00M	669.00M	-63.00M	-312.00M	-427.00M	-656.00M	-1,181.00M	-766.00M	-599.00M	0.00M
Minority Interest	1,523.00M	1,073.00M	1,036.00M	964.00M	736.00M	537.00M	551.00M	514.00M	629.00M	209.00M	199.00M	211.00M	281.00M	268.00M	393.00M	368.00M	334.00M	871.00M	0.00M	752.00M	410.00M	325.00M	280.00M	554.00M	495.00M	493.00M	543.00M	0.00M
Total Shareholders’ Equity	6,948.00M	6,889.00M	6,137.00M	6,024.00M	3,852.00M	3,199.00M	1,681.00M	1,504.00M	1,815.00M	2,842.00M	2,921.00M	2,056.00M	3,813.00M	5,010.00M	6,073.00M	6,998.00M	7,427.00M	5,869.00M	4,587.00M	5,185.00M	2,978.00M	1,596.00M	1,014.00M	367.00M	-527.00M	-330.00M	1,139.00M	0.00M
Total Equity	8,471.00M	7,962.00M	7,173.00M	6,988.00M	4,588.00M	3,736.00M	2,232.00M	2,018.00M	2,444.00M	3,051.00M	3,120.00M	2,267.00M	4,094.00M	5,278.00M	6,466.00M	7,366.00M	7,761.00M	6,740.00M	4,587.00M	5,937.00M	3,388.00M	1,921.00M	1,294.00M	921.00M	-32.00M	163.00M	1,682.00M	0.00M
Total Liabilities & Equity	36,100.00M	25,723.00M	20,192.00M	19,584.00M	18,453.00M	18,660.00M	18,466.00M	13,199.00M	14,449.00M	13,959.00M	14,417.00M	12,901.00M	16,030.00M	21,142.00M	21,523.00M	19,333.00M	19,940.00M	15,279.00M	17,381.00M	18,912.00M	11,657.00M	8,816.00M	7,817.00M	7,266.00M	5,894.00M	3,737.00M	5,854.00M	0.00M
Tangible Assets	42,036.00M	29,369.00M	23,506.00M	23,357.00M	22,755.00M	21,963.00M	21,755.00M	16,403.00M	17,326.00M	17,214.00M	17,457.00M	16,230.00M	19,971.00M	25,027.00M	25,631.00M	23,184.00M	24,369.00M	20,689.00M	19,683.00M	21,069.00M	14,012.00M	11,138.00M	10,547.00M	9,397.00M	8,004.00M	5,277.00M	5,654.00M	4,611.00M
Tangible Equity	5,374.00M	7,186.00M	6,399.00M	6,101.00M	3,758.00M	2,821.00M	1,117.00M	824.00M	1,020.00M	2,213.00M	2,411.00M	1,523.00M	3,489.00M	4,560.00M	5,820.00M	6,253.00M	6,641.00M	6,143.00M	4,155.00M	5,444.00M	3,053.00M	1,613.00M	971.00M	681.00M	-377.00M	-3.00M	1,482.00M	0.00M
Tangible Book Value	5,374.00M	7,186.00M	6,399.00M	6,101.00M	3,758.00M	2,821.00M	1,117.00M	824.00M	1,020.00M	2,213.00M	2,411.00M	1,523.00M	3,489.00M	4,560.00M	5,820.00M	6,253.00M	6,641.00M	6,143.00M	4,155.00M	5,444.00M	3,053.00M	1,613.00M	971.00M	681.00M	-377.00M	-3.00M	1,482.00M	0.00M
Total Investments	4,341.00M	1,381.00M	1,437.00M	1,527.00M	1,294.00M	1,480.00M	1,113.00M	1,303.00M	704.00M	1,055.00M	1,049.00M	937.00M	2,130.00M	5,169.00M	3,840.00M	2,633.00M	648.00M	622.00M	761.00M	706.00M	0.00M	0.00M	0.00M	13.00M	12.00M	6.00M	61.00M	0.00M
Net Debt	15,301.00M	4,479.00M	2,927.00M	2,280.00M	3,547.00M	5,062.00M	6,936.00M	4,674.00M	4,983.00M	4,193.00M	3,858.00M	4,357.00M	4,838.00M	8,372.00M	8,328.00M	5,192.00M	3,377.00M	3,262.00M	2,579.00M	3,566.00M	3,119.00M	2,792.00M	2,849.00M	2,905.00M	2,933.00M	1,614.00M	2,102.00M	430.00M

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
Working Capital	10,622.0M	11,061.0M	8,523.0M	8,663.0M	7,158.0M	7,136.0M	5,196.0M	3,653.0M	3,896.0M	4,188.0M	3,408.0M	3,576.0M	4,377.0M	5,237.0M	5,703.0M	6,181.0M	5,811.0M	5,576.0M	5,102.0M	5,684.0M	3,878.0M	2,947.0M	2,766.0M	2,481.0M	1,655.0M	938.0M	681.0M	0.0M
Total Capital	33,546.0M	23,096.0M	17,032.0M	16,607.0M	14,847.0M	14,489.0M	14,173.0M	11,662.0M	11,545.0M	11,942.0M	11,936.0M	11,209.0M	13,646.0M	18,971.0M	19,759.0M	17,734.0M	17,101.0M	13,309.0M	11,019.0M	12,492.0M	9,152.0M	7,372.0M	6,656.0M	5,771.0M	4,875.0M	3,189.0M	3,664.0M	1,990.0M
Capital Employed	30,201.0M	20,770.0M	17,464.0M	17,685.0M	14,980.0M	14,495.0M	12,670.0M	11,722.0M	12,253.0M	12,656.0M	11,504.0M	10,574.0M	12,728.0M	14,246.0M	15,719.0M	16,328.0M	15,997.0M	15,079.0M	12,156.0M	13,157.0M	9,832.0M	7,829.0M	7,005.0M	5,947.0M	4,555.0M	3,097.0M	3,108.0M	4,611.0M
Invested Capital	32,221.0M	16,306.0M	13,721.0M	14,005.0M	13,743.0M	13,587.0M	13,821.0M	11,342.0M	11,156.0M	11,341.0M	11,002.0M	10,798.0M	13,284.0M	18,229.0M	19,190.0M	16,899.0M	15,597.0M	12,756.0M	10,015.0M	11,511.0M	8,787.0M	7,018.0M	6,224.0M	5,282.0M	4,405.0M	2,990.0M	3,241.0M	1,627.0M

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
Net Income	1,385.00M	1,218.00M	1,188.00M	2,337.00M	1,678.00M	2,167.00M	1,165.00M	-1,291.00M	287.00M	174.00M	767.00M	790.00M	517.00M	207.00M	36.00M	940.00M	2,388.00M	335.00M	1,326.00M	778.00M	521.00M	530.00M	469.00M	411.00M	255.00M	134.00M	12.00M	0.00M
Depreciation & Amortization	600.00M	367.00M	468.00M	451.00M	408.00M	424.00M	435.00M	548.00M	622.00M	609.00M	547.00M	545.00M	607.00M	568.00M	570.00M	526.00M	443.00M	443.00M	439.00M	385.00M	324.00M	278.00M	212.00M	184.00M	168.00M	163.00M	149.00M	0.00M
Deferred Income Tax	-55.00M	-159.00M	-10.00M	-1.00M	-119.00M	-272.00M	71.00M	-24.00M	6.00M	-23.00M	126.00M	16.00M	-45.00M	460.00M	-32.00M	-217.00M	160.00M	-204.00M	-251.00M	-62.00M	-191.00M	-238.00M	-56.00M	-17.00M	-4.00M	-11.00M	-17.00M	0.00M
Stock-Based Compensation	70.00M	67.00M	65.00M	69.00M	65.00M	61.00M	71.00M	39.00M	46.00M	29.00M	44.00M	46.00M	49.00M	53.00M	44.00M	49.00M	60.00M	17.00M	66.00M	48.00M	19.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	319.00M	619.00M	95.00M	673.00M	-7,627.00M	-5,007.00M	-5,097.00M	-2,003.00M	-2,492.00M	-2,880.00M	-1,111.00M	-593.00M	447.00M	1,072.00M	-1,568.00M	1,219.00M	-3,215.00M	-416.00M	461.00M	-1,563.00M	-854.00M	-195.00M	38.00M	-523.00M	-580.00M	-332.00M	-732.00M	0.00M
Accounts Receivable	-248.00M	332.00M	169.00M	256.00M	-7,146.00M	-530.00M	-255.00M	-257.00M	-110.00M	95.00M	-131.00M	-97.00M	108.00M	148.00M	-373.00M	267.00M	-1,560.00M	-229.00M	-766.00M	-319.00M	-69.00M	270.00M	-398.00M	-129.00M	-116.00M	-127.00M	-336.00M	0.00M
Inventory	-146.00M	28.00M	96.00M	1,518.00M	-269.00M	-1,301.00M	-2,298.00M	504.00M	-1,107.00M	-130.00M	-269.00M	314.00M	-161.00M	238.00M	-1,567.00M	530.00M	-1,894.00M	1,636.00M	-905.00M	-1,743.00M	-729.00M	-11.00M	328.00M	-249.00M	-728.00M	-303.00M	-311.00M	0.00M
Accounts Payable	-48.00M	0.00M	0.00M	0.00M	0.00M	1,594.00M	97.00M	-498.00M	335.00M	25.00M	708.00M	-88.00M	-100.00M	436.00M	554.00M	-295.00M	1,305.00M	-1,427.00M	1,161.00M	1,231.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	761.00M	259.00M	-170.00M	-1,101.00M	-212.00M	-4,770.00M	-2,641.00M	-1,752.00M	-1,610.00M	-2,870.00M	-1,419.00M	-722.00M	600.00M	250.00M	-182.00M	717.00M	-1,066.00M	-396.00M	971.00M	-732.00M	-56.00M	-454.00M	108.00M	-145.00M	264.00M	98.00M	-85.00M	0.00M
Other Non-Cash Items	-1,769.00M	183.00M	94.00M	-221.00M	46.00M	-267.00M	-181.00M	1,923.00M	267.00M	116.00M	73.00M	-194.00M	-131.00M	-135.00M	496.00M	95.00M	-2,274.00M	-543.00M	502.00M	3.00M	-89.00M	7.00M	139.00M	-96.00M	289.00M	251.00M	67.00M	37.00M
Net Cash from Operating Activities	550.00M	2,295.00M	1,900.00M	3,308.00M	-5,549.00M	-2,894.00M	-3,536.00M	-808.00M	-1,264.00M	-1,975.00M	446.00M	610.00M	1,399.00M	2,225.00M	-457.00M	2,614.00M	-2,435.00M	-368.00M	2,543.00M	-411.00M	-289.00M	382.00M	802.00M	-41.00M	128.00M	205.00M	-521.00M	37.00M
Capital Expenditures (PPE)	-489.00M	-1,204.00M	-1,376.00M	-1,122.00M	-555.00M	-399.00M	-365.00M	-524.00M	-493.00M	-662.00M	-784.00M	-649.00M	-839.00M	-1,042.00M	-1,095.00M	-1,125.00M	-1,072.00M	-918.00M	-896.00M	-658.00M	-503.00M	-522.00M	-437.00M	-304.00M	-242.00M	-230.00M	-184.00M	0.00M
Acquisitions (Net)	-3,527.00M	91.00M	675.00M	34.00M	453.00M	601.00M	180.00M	709.00M	-984.00M	-479.00M	-74.00M	-426.00M	-96.00M	402.00M	60.00M	-236.00M	-254.00M	-144.00M	-202.00M	-192.00M	-74.00M	-64.00M	-355.00M	-196.00M	-856.00M	-13.00M	-78.00M	0.00M
Purchases of Investments	-409.00M	-926.00M	-1,285.00M	-133.00M	-456.00M	-342.00M	-337.00M	-449.00M	-1,184.00M	-944.00M	-553.00M	-235.00M	-196.00M	-68.00M	-83.00M	-55.00M	0.00M	0.00M	-94.00M	-39.00M	-91.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	164.00M	767.00M	958.00M	49.00M	326.00M	171.00M	370.00M	449.00M	1,164.00M	941.00M	427.00M	498.00M	282.00M	134.00M	108.00M	95.00M	50.00M	0.00M	0.00M	23.00M	11.00M	0.00M	0.00M	0.00M	16.00M	0.00M	0.00M	0.00M
Other Investing Activities	-1,420.00M	-48.00M	-86.00M	163.00M	6,731.00M	5,082.00M	1,965.00M	1,318.00M	1,907.00M	2,963.00M	1,518.00M	10.00M	164.00M	145.00M	43.00M	101.00M	3,785.00M	110.00M	86.00M	72.00M	46.00M	106.00M	-49.00M	601.00M	9.00M	64.00M	171.00M	-108.00M
Net Cash from Investing Activities	-5,681.00M	-1,320.00M	-1,114.00M	-1,009.00M	6,499.00M	5,113.00M	1,813.00M	1,483.00M	410.00M	-1,162.00M	-926.00M	-802.00M	-685.00M	-429.00M	-967.00M	-1,220.00M	2,509.00M	-952.00M	-1,106.00M	-794.00M	-611.00M	-480.00M	-841.00M	60.00M	-1,073.00M	-179.00M	-91.00M	-108.00M
Net Debt Issuance	4,824.00M	966.00M	1,416.00M	230.00M	-705.00M	-1,097.00M	2,202.00M	-438.00M	956.00M	86.00M	61.00M	882.00M	-591.00M	-1,318.00M	1,368.00M	-824.00M	480.00M	166.00M	-858.00M	922.00M	299.00M	128.00M	-166.00M	-59.00M	1,046.00M	-518.00M	554.00M	0.00M
Long-Term Debt Issuance	2,243.00M	829.00M	1,292.00M	-168.00M	-729.00M	997.00M	287.00M	-454.00M	470.00M	62.00M	110.00M	695.00M	-653.00M	-362.00M	1,179.00M	195.00M	-119.00M	532.00M	-171.00M	827.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt Issuance	2,581.00M	137.00M	124.00M	398.00M	24.00M	-2,094.00M	1,915.00M	16.00M	486.00M	24.00M	-49.00M	187.00M	62.00M	-956.00M	189.00M	-1,019.00M	599.00M	-366.00M	-687.00M	95.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-1,045.00M	-734.00M	-1,100.00M	-600.00M	-200.00M	-100.00M	-100.00M	0.00M	0.00M	0.00M	-200.00M	-300.00M	-226.00M	43.00M	23.00M	-97.00M	-348.00M	763.00M	7.00M	877.00M	693.00M	13.00M	178.00M	7.00M	293.00M	278.00M	163.00M	0.00M
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	25.00M	74.00M	43.00M	23.00M	23.00M	6.00M	763.00M	7.00M	32.00M	693.00M	13.00M	348.00M	7.00M	293.00M	278.00M	163.00M	0.00M
Common Stock Repurchased	-1,045.00M	-734.00M	-1,100.00M	-600.00M	-200.00M	-100.00M	-100.00M	0.00M	0.00M	0.00M	-200.00M	-300.00M	-300.00M	0.00M	0.00M	-120.00M	-354.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-170.00M	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	845.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-415.00M	-383.00M	-378.00M	-383.00M	-349.00M	-323.00M	-316.00M	-317.00M	-305.00M	-297.00M	-282.00M	-249.00M	-221.00M	-201.00M	-192.00M	-186.00M	-211.00M	-198.00M	-168.00M	-114.00M	-74.00M	-120.00M	-86.00M	-105.00M	-65.00M	-34.00M	-18.00M	0.00M
Common Dividends Paid	-415.00M	-383.00M	-378.00M	-383.00M	-349.00M	-289.00M	-282.00M	-283.00M	-271.00M	-247.00M	-223.00M	-207.00M	-187.00M	-167.00M	-151.00M	-140.00M	-124.00M	-103.00M	-87.00M	-80.00M	-74.00M	-63.00M	-51.00M	-42.00M	-65.00M	-34.00M	-18.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-34.00M	-78.00M	-78.00M	-81.00M	-34.00M	0.00M	-57.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	191.00M	-116.00M	-28.00M	-103.00M	485.00M	-112.00M	-23.00M	-16.00M	-20.00M	15.00M	-92.00M	19.00M	-20.00M	-89.00M	0.00M	35.00M	40.00M	26.00M	-127.00M	95.00M	-27.00M	0.00M	0.00M	55.00M	21.00M	50.00M	10.00M	-253.00M
Net Cash from Financing Activities	3,555.00M	-267.00M	-90.00M	-856.00M	-769.00M	-1,632.00M	1,763.00M	-771.00M	631.00M	-180.00M	-488.00M	360.00M	-1,058.00M	-1,565.00M	1,206.00M	-1,060.00M	-30.00M	774.00M	-1,146.00M	1,762.00M	891.00M	21.00M	-74.00M	-102.00M	1,295.00M	-224.00M	709.00M	-253.00M
Effect of FX on Cash	12.00M	-12.00M	9.00M	28.00M	66.00M	-63.00M	19.00M	5.00M	11.00M	3.00M	33.00M	-119.00M	-36.00M	-60.00M	-46.00M	-77.00M	-19.00M	95.00M	-268.00M	59.00M	20.00M	-1.00M	56.00M	61.00M	-81.00M	-30.00M	-37.00M	0.00M
Net Change in Cash	-1,564.00M	696.00M	705.00M	1,471.00M	247.00M	524.00M	59.00M	-71.00M	-212.00M	-333.00M	523.00M	49.00M	-380.00M	173.00M	-264.00M	257.00M	25.00M	-451.00M	23.00M	616.00M	11.00M	-78.00M	-57.00M	19.00M	271.00M	-224.00M	60.00M	-324.00M
Cash at Beginning of Period	16,278.00M	8,970.00M	2,623.00M	1,152.00M	905.00M	381.00M	322.00M	393.00M	605.00M	934.00M	411.00M	362.00M	742.00M	569.00M	835.00M	578.00M	553.00M	1,004.00M	981.00M	365.00M	354.00M	432.00M	489.00M	470.00M	199.00M	423.00M	363.00M	0.00M
Cash at End of Period	14,714.00M	9,666.00M	3,328.00M	2,623.00M	1,152.00M	905.00M	381.00M	322.00M	393.00M	601.00M	934.00M	411.00M	362.00M	742.00M	571.00M	835.00M	578.00M	553.00M	1,004.00M	981.00M	365.00M	354.00M	432.00M	489.00M	470.00M	199.00M	423.00M	-324.00M
Operating Cash Flow	550.00M	2,295.00M	1,900.00M	3,308.00M	-5,549.00M	-2,894.00M	-3,536.00M	-814.00M	-1,264.00M	1,006.00M	1,904.00M	610.00M	1,399.00M	2,225.00M	-455.00M	2,614.00M	-2,435.00M	-368.00M	2,543.00M	-411.00M	-289.00M	382.00M	802.00M	-41.00M	130.00M	209.00M	-521.00M	37.00M
Capital Expenditure	-489.00M	-1,204.00M	-1,376.00M	-1,122.00M	-555.00M	-399.00M	-365.00M	-524.00M	-493.00M	-662.00M	-784.00M	-649.00M	-839.00M	-1,042.00M	-1,095.00M	-1,125.00M	-1,072.00M	-918.00M	-896.00M	-658.00M	-503.00M	-522.00M	-437.00M	-304.00M	-242.00M	-230.00M	-184.00M	0.00M
Free Cash Flow	61.00M	1,091.00M	524.00M	2,186.00M	-6,104.00M	-3,293.00M	-3,901.00M	-1,332.00M	-1,757.00M	-2,637.00M	-338.00M	-39.00M	560.00M	1,183.00M	-1,552.00M	1,489.00M	-3,507.00M	-1,286.00M	1,647.00M	-1,069.00M	-792.00M	-140.00M	365.00M	-345.00M	-112.00M	-21.00M	-705.00M	37.00M

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
EBITDA	2,152.00M	2,225.00M	2,085.00M	3,581.00M	2,721.00M	2,553.00M	1,862.00M	-261.00M	1,465.00M	937.00M	1,673.00M	1,803.00M	1,537.00M	1,769.00M	1,580.00M	1,717.00M	1,301.00M	305.00M	2,862.00M	1,541.00M	917.00M	893.00M	1,227.00M	798.00M	927.00M	711.00M	494.00M	297.00M
(-) Tax Adjustment	472.04M	605.13M	459.69M	838.03M	511.01M	396.14M	326.81M	0.00M	512.75M	228.14M	369.54M	507.79M	521.41M	619.15M	0.00M	92.58M	298.26M	0.00M	446.33M	397.76M	0.00M	0.00M	429.45M	259.12M	254.37M	248.85M	172.90M	103.95M
(-) Change In Working Capital	319.00M	619.00M	95.00M	673.00M	-7,627.00M	-5,007.00M	-5,097.00M	-2,003.00M	-2,492.00M	-2,880.00M	-1,111.00M	-593.00M	447.00M	1,072.00M	-1,568.00M	1,219.00M	-3,215.00M	-416.00M	461.00M	-1,563.00M	-854.00M	-195.00M	38.00M	-523.00M	-580.00M	-332.00M	-732.00M	0.00M
(-) Capital Expenditure	-489.00M	-1,204.00M	-1,376.00M	-1,122.00M	-555.00M	-399.00M	-365.00M	-524.00M	-493.00M	-662.00M	-784.00M	-649.00M	-839.00M	-1,042.00M	-1,095.00M	-1,125.00M	-1,072.00M	-918.00M	-896.00M	-658.00M	-503.00M	-522.00M	-437.00M	-304.00M	-242.00M	-230.00M	-184.00M	0.00M
Unlevered Free Cash Flow	-560.04M	-203.13M	154.31M	947.97M	9,281.99M	6,764.86M	6,267.19M	1,218.00M	2,951.25M	2,926.86M	1,630.46M	1,239.21M	-270.41M	-964.15M	2,053.00M	-719.58M	3,145.74M	-197.00M	1,058.67M	2,048.24M	1,268.00M	566.00M	322.55M	757.88M	1,010.63M	564.15M	869.10M	193.05M
(-) Net Interest Income After Taxes	-243.56M	-262.82M	-240.09M	-281.88M	-269.65M	-164.74M	-200.35M	-308.00M	-200.20M	-170.22M	-142.58M	-154.45M	-171.80M	-186.55M	-241.00M	-188.27M	-174.96M	-161.00M	-124.08M	-138.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	4,824.00M	966.00M	1,416.00M	230.00M	-705.00M	-1,097.00M	2,202.00M	-438.00M	956.00M	86.00M	61.00M	882.00M	-591.00M	-1,318.00M	1,368.00M	-824.00M	480.00M	166.00M	-858.00M	922.00M	299.00M	128.00M	-166.00M	-59.00M	1,046.00M	-518.00M	554.00M	0.00M
Levered Free Cash Flow	4,507.53M	1,025.69M	1,810.41M	1,459.85M	8,846.64M	5,832.60M	8,669.54M	1,088.00M	4,107.45M	3,183.08M	1,834.04M	2,275.66M	-689.61M	-2,095.60M	3,662.00M	-1,355.31M	3,800.70M	130.00M	324.74M	3,108.97M	1,567.00M	694.00M	156.55M	698.88M	2,056.63M	46.15M	1,423.10M	193.05M