First Commonwealth Financial Corporation (FCF)

Industry: Banks - Regional Sector: Financial Services Currency Used: US Live Price: $17.47

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	17.05	16.23	16.27	15.38	13.21	13.85	14.54	9.03	13.56	14.38	13.60	10.58	9.19	8.97	7.81	6.70	5.39	6.12	6.39	11.69	11.18	13.46	13.42	14.19	13.01	12.63	12.74	9.35	11.83	13.29	11.96	9.25
Market Capitalization	1,786.07M	1,686.76M	1,686.88M	1,570.29M	1,353.99M	1,297.27M	1,387.57M	877.40M	1,333.86M	1,431.07M	1,296.79M	941.37M	818.54M	835.16M	753.60M	691.38M	564.03M	572.83M	540.02M	885.79M	814.35M	951.90M	929.59M	929.04M	767.75M	737.44M	737.56M	537.91M	719.64M	641.59M	528.11M	411.19M
(-) Cash & Equivalents	117.24M	121.05M	126.55M	303.59M	332.18M	289.91M	379.78M	332.15M	117.67M	93.68M	118.58M	92.25M	68.74M	87.01M	77.11M	90.02M	108.04M	107.46M	87.14M	94.29M	92.10M	93.72M	84.49M	82.67M	85.46M	82.31M	89.33M	86.10M	88.93M	80.98M	86.70M	78.60M
(+) Total Debt	149.56M	532.43M	340.73M	606.37M	678.07M	345.44M	313.69M	357.40M	573.58M	771.60M	916.57M	1,376.55M	1,409.65M	1,083.82M	714.57M	612.55M	387.14M	603.83M	1,311.92M	1,329.11M	823.89M	1,256.10M	1,582.73M	1,717.81M	1,205.40M	1,018.72M	994.09M	985.75M	949.60M	622.83M	257.75M	163.73M
Enterprise Value	1,818.39M	2,098.14M	1,901.05M	1,873.06M	1,699.88M	1,352.81M	1,321.48M	902.66M	1,789.78M	2,108.98M	2,094.78M	2,225.67M	2,159.46M	1,831.97M	1,391.05M	1,213.91M	843.13M	1,069.20M	1,764.81M	2,120.62M	1,546.14M	2,114.28M	2,427.83M	2,564.18M	1,887.69M	1,673.85M	1,642.31M	1,437.57M	1,580.31M	1,183.44M	699.16M	496.31M

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	716M	693M	700M	627M	429M	401M	396M	411M	381M	331M	282M	265M	263M	267M	285M	289M	318M	349M	383M	380M	377M	362M	326M	292M	314M	350M	346M	330M	312M	280M	254M	186M
Cost of Revenue	247M	236M	251M	159M	39M	14M	90M	70M	53M	27M	37M	31M	30M	41M	51M	97M	123M	187M	162M	180M	178M	147M	119M	113M	135M	179M	185M	162M	163M	135M	116M	87M
Gross Profit	469M	457M	449M	467M	390M	387M	306M	341M	328M	304M	245M	235M	233M	226M	234M	192M	194M	161M	221M	200M	200M	215M	207M	179M	179M	171M	161M	168M	148M	146M	139M	100M
Gross Profit Margin	65.5%	65.9%	64.2%	74.6%	90.9%	96.5%	77.3%	83.0%	86.2%	91.9%	86.9%	88.5%	88.7%	84.6%	82.2%	66.3%	61.2%	46.3%	57.7%	52.7%	52.9%	59.4%	63.5%	61.3%	57.0%	49.0%	46.6%	50.9%	47.6%	51.9%	54.6%	53.5%
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	91M	159M	161M	155M	134M	127M	130M	128M	122M	122M	103M	105M	103M	103M	109M	104M	104M	107M	94M	79M	73M	74M	69M	61M	58M	55M	53M	50M	49M	47M	44M	33M
Operating Expenses	290M	267M	271M	270M	230M	214M	216M	210M	196M	200M	160M	164M	171M	169M	177M	177M	171M	207M	172M	148M	138M	144M	165M	113M	126M	106M	99M	96M	102M	89M	85M	62M
Operating Income (EBIT)	180M	190M	178M	198M	160M	173M	90M	131M	133M	104M	85M	71M	62M	57M	57M	15M	23M	-46M	50M	52M	62M	71M	42M	67M	52M	65M	62M	73M	46M	57M	53M	38M
Operating Income Margin	25.1%	27.5%	25.5%	31.5%	37.4%	43.1%	22.8%	31.9%	34.9%	31.3%	30.2%	26.7%	23.6%	21.3%	19.9%	5.1%	7.3%	-13.2%	13.0%	13.7%	16.4%	19.6%	13.0%	22.8%	16.7%	18.7%	17.8%	22.0%	14.8%	20.3%	21.0%	20.2%
Interest Income	616M	592M	598M	527M	329M	293M	301M	325M	292M	251M	215M	201M	202M	206M	219M	231M	268M	293M	325M	331M	333M	312M	278M	244M	276M	309M	312M	298M	283M	255M	235M	176M
Interest Expense	211M	215M	222M	144M	18M	15M	33M	55M	40M	22M	19M	16M	19M	22M	30M	42M	62M	87M	139M	170M	166M	139M	111M	100M	123M	167M	175M	153M	148M	125M	109M	82M
Net Interest Income	405M	377M	377M	383M	311M	278M	268M	270M	252M	229M	196M	185M	184M	185M	189M	190M	207M	206M	186M	161M	167M	173M	167M	144M	153M	142M	137M	145M	135M	130M	126M	93M
Unusual Items	-405M	-377M	-377M	-383M	-311M	-278M	-268M	-270M	-252M	-229M	-196M	-185M	-184M	-185M	-189M	-190M	-207M	-206M	-186M	-161M	-167M	-173M	-167M	-144M	-153M	-142M	-137M	-145M	-135M	-130M	-126M	-93M
EBT Excluding Unusual Items	585M	567M	555M	580M	472M	451M	358M	401M	385M	333M	281M	256M	246M	241M	246M	205M	230M	160M	236M	214M	229M	245M	210M	210M	205M	207M	199M	218M	181M	187M	179M	131M
Pre-Tax Income	180M	190M	178M	198M	160M	173M	90M	131M	133M	104M	85M	71M	62M	57M	57M	15M	23M	-46M	50M	52M	62M	71M	42M	67M	52M	65M	62M	73M	46M	57M	53M	38M
Pre-Tax Margin	25.1%	27.5%	25.5%	31.5%	37.4%	43.1%	22.8%	31.9%	34.9%	31.3%	30.2%	26.7%	23.6%	21.3%	19.9%	5.1%	7.3%	-13.2%	13.0%	13.7%	16.4%	19.6%	13.0%	22.8%	16.7%	18.7%	17.8%	22.0%	14.8%	20.3%	21.0%	20.2%
Income Tax Expense	36M	39M	36M	40M	32M	35M	17M	26M	25M	49M	26M	21M	18M	15M	15M	0M	0M	-26M	7M	6M	9M	13M	4M	13M	9M	15M	14M	20M	12M	17M	16M	12M
Net Income	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	33M	40M	37M	26M
Net Income Margin	20.0%	21.9%	20.4%	25.1%	29.9%	34.5%	18.6%	25.6%	28.2%	16.7%	21.1%	18.9%	16.9%	15.6%	14.7%	5.3%	7.2%	-5.8%	11.2%	12.2%	14.0%	16.0%	11.9%	18.2%	13.9%	14.3%	13.7%	16.0%	10.7%	14.1%	14.6%	13.7%
Depreciation & Amortization	7M	5M	6M	4M	11M	11M	12M	10M	8M	9M	7M	8M	14M	11M	8M	9M	11M	10M	10M	5M	9M	11M	9M	7M	7M	8M	7M	8M	8M	7M	6M	5M
EBITDA	186M	195M	184M	202M	171M	184M	102M	141M	141M	113M	92M	79M	76M	68M	65M	24M	34M	-36M	60M	57M	71M	82M	52M	74M	60M	73M	69M	80M	54M	64M	60M	43M
EBITDA Margin	26.0%	28.2%	26.3%	32.2%	39.8%	46.0%	25.7%	34.4%	37.0%	34.1%	32.7%	29.6%	28.8%	25.5%	22.7%	8.3%	10.7%	-10.3%	15.7%	15.1%	18.7%	22.7%	15.9%	25.3%	19.1%	20.9%	20.0%	24.3%	17.4%	22.8%	23.5%	22.9%
NOPAT	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-36M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	34M	40M	37M	26M
NOPAT Margin	20.0%	21.9%	20.4%	25.1%	29.9%	34.5%	18.6%	25.6%	28.2%	16.7%	21.1%	18.9%	16.9%	15.6%	14.7%	5.3%	7.2%	-10.4%	11.2%	12.2%	14.0%	16.0%	11.9%	18.2%	13.9%	14.3%	13.7%	16.0%	10.9%	14.1%	14.6%	13.7%
Owner's Earnings	146M	142M	133M	139M	128M	139M	77M	98M	106M	53M	59M	53M	47M	43M	40M	16M	29M	-17M	41M	42M	48M	55M	36M	56M	45M	50M	47M	53M	34M	40M	36M	27M
Owner's Earnings Margin	20.4%	20.4%	19.0%	22.2%	29.7%	34.7%	19.6%	23.9%	27.8%	15.9%	21.0%	19.9%	17.9%	16.1%	13.9%	5.5%	9.1%	-4.8%	10.8%	11.0%	12.8%	15.1%	11.1%	19.0%	14.2%	14.3%	13.6%	16.1%	10.8%	14.4%	14.1%	14.2%
EPS (Basic)	1.38	1.48	1.40	1.55	1.37	1.47	0.76	1.07	1.09	0.57	0.67	0.56	0.48	0.44	0.42	0.15	0.25	-0.24	0.58	0.64	0.75	0.83	0.59	0.90	0.75	0.87	0.82	0.88	0.54	0.32	0.30	0.58
EPS (Diluted)	1.39	1.48	1.39	1.54	1.37	1.44	0.75	1.07	1.08	0.57	0.67	0.56	0.48	0.43	0.40	0.15	0.25	-0.24	0.58	0.63	0.74	0.83	0.58	0.90	0.74	0.86	0.82	0.88	0.54	0.90	0.84	0.58
Shares (Basic)	103M	102M	102M	102M	94M	94M	96M	98M	99M	97M	89M	89M	92M	95M	100M	105M	93M	85M	74M	73M	71M	70M	66M	59M	58M	58M	58M	60M	62M	44M	44M	44M
Shares (Diluted)	103M	102M	102M	102M	94M	96M	98M	99M	100M	97M	89M	89M	93M	97M	104M	105M	93M	85M	75M	73M	71M	70M	67M	59M	59M	58M	58M	61M	62M	44M	44M	44M

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	161.41M	160.17M	133.41M	146.99M	154.24M	395.37M	356.58M	121.86M	98.95M	107.29M	115.68M	69.45M	74.54M	77.44M	102.98M	78.48M	69.86M	89.56M	88.57M	102.51M	96.12M	85.03M	81.99M	87.87M	83.09M	102.38M	91.15M	93.90M	99.50M	117.40M	73.60M	75.50M
Short-Term Investments	1,001.83M	1,049.42M	1,147.62M	1,020.99M	762.66M	1,041.38M	831.22M	902.29M	909.25M	731.36M	778.61M	886.56M	1,309.82M	1,318.37M	1,171.30M	1,142.78M	0.00M	0.00M	0.00M	0.00M	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	1,163.24M	1,209.58M	1,281.03M	1,167.98M	916.91M	1,436.75M	1,187.80M	1,024.15M	1,008.19M	838.65M	894.29M	956.01M	1,384.36M	1,395.80M	1,274.29M	1,221.25M	69.86M	89.56M	88.57M	102.51M	96.12M	85.03M	81.99M	87.87M	83.09M	102.38M	91.15M	93.90M	99.50M	117.40M	73.60M	75.50M
Net Receivables	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current 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 Current Assets	1,163.24M	1,209.58M	1,281.03M	1,167.98M	916.91M	1,436.75M	1,187.80M	1,024.15M	1,008.19M	838.65M	894.29M	956.01M	1,384.36M	1,395.80M	1,274.29M	1,221.25M	69.86M	89.56M	88.57M	102.51M	96.12M	85.03M	81.99M	87.87M	83.09M	102.38M	91.15M	93.90M	99.50M	117.40M	73.60M	75.50M
Property, Plant & Equipment	116.53M	117.17M	116.11M	121.02M	115.11M	120.78M	125.52M	137.27M	80.47M	81.34M	67.53M	63.45M	64.99M	67.94M	68.97M	66.76M	66.98M	70.74M	72.64M	69.49M	68.90M	60.86M	56.97M	46.54M	45.73M	46.37M	44.67M	40.90M	41.90M	41.50M	32.60M	29.40M
Goodwill	378.21M	378.65M	363.72M	363.72M	303.33M	303.33M	303.33M	303.33M	274.20M	255.35M	186.48M	164.50M	161.43M	159.96M	159.96M	159.96M	159.96M	159.96M	159.96M	159.96M	160.37M	122.70M	123.61M	29.85M	8.13M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	22.64M	23.90M	19.64M	22.82M	9.21M	11.19M	13.49M	16.37M	13.04M	15.01M	12.01M	1.23M	1.67M	1.31M	2.38M	3.84M	5.38M	7.41M	10.23M	13.44M	16.87M	15.25M	17.51M	3.26M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	10,199.77M	10,082.79M	9,353.43M	9,350.74M	8,038.68M	7,319.44M	7,067.38M	6,507.38M	6,164.24M	5,825.86M	5,245.23M	5,085.98M	4,452.30M	4,265.05M	4,165.75M	4,035.62M	5,163.43M	5,776.91M	5,817.81M	5,301.14M	5,464.36M	5,524.51M	5,714.25M	4,860.93M	4,254.75M	4,296.19M	4,093.56M	4,058.80M	3,867.80M	3,426.20M	2,432.20M	2,218.10M
Tax Assets	0.00M	0.00M	0.00M	0.00M	0.00M	39.44M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	429.98M	425.04M	451.01M	433.22M	422.44M	353.61M	370.58M	320.28M	288.11M	292.33M	278.47M	295.72M	295.54M	324.80M	324.06M	353.70M	347.24M	341.72M	276.68M	237.09M	237.30M	217.97M	204.15M	160.75M	133.02M	138.60M	142.93M	147.20M	87.60M	83.50M	46.20M	41.30M
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	11,147.13M	11,027.57M	10,303.90M	10,291.51M	8,888.76M	8,147.78M	7,880.30M	7,284.63M	6,820.06M	6,469.89M	5,789.73M	5,610.88M	4,975.93M	4,819.06M	4,721.11M	4,619.87M	5,742.98M	6,356.73M	6,337.31M	5,781.11M	5,947.80M	5,941.29M	6,116.48M	5,101.32M	4,441.66M	4,481.15M	4,281.16M	4,246.90M	3,997.30M	3,551.20M	2,511.00M	2,288.80M
Total Assets	12,310.38M	12,237.15M	11,584.94M	11,459.49M	9,805.67M	9,584.54M	9,068.10M	8,308.77M	7,828.26M	7,308.54M	6,684.02M	6,566.89M	6,360.29M	6,214.86M	5,995.39M	5,841.12M	5,812.84M	6,446.29M	6,425.88M	5,883.62M	6,043.92M	6,026.32M	6,198.48M	5,189.20M	4,524.74M	4,583.53M	4,372.31M	4,340.80M	4,096.80M	3,668.60M	2,584.60M	2,364.30M
Accounts Payable	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt	149.56M	225.87M	80.14M	597.84M	372.69M	138.32M	117.37M	201.85M	721.82M	707.47M	867.94M	1,510.83M	1,105.88M	626.62M	356.23M	312.78M	187.86M	958.93M	1,139.74M	354.20M	500.01M	665.67M	946.47M	634.13M	469.07M	427.74M	272.17M	424.80M	140.50M	203.40M	150.30M	120.80M
Tax Payables	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	10,231.34M	10,104.58M	9,678.02M	9,192.31M	8,005.47M	7,982.50M	7,438.67M	6,677.62M	5,897.99M	5,580.71M	4,947.41M	4,195.89M	4,315.51M	4,603.86M	4,557.88M	4,504.68M	4,617.85M	4,535.79M	4,280.34M	4,347.22M	4,326.44M	3,996.55M	3,844.48M	3,288.28M	3,044.12M	3,093.15M	3,064.15M	2,948.80M	2,931.10M	2,884.40M	2,104.80M	1,962.70M
Total Current Liabilities	10,380.90M	10,330.46M	9,758.16M	9,790.14M	8,378.16M	8,120.81M	7,556.04M	6,879.47M	6,619.82M	6,288.17M	5,815.35M	5,706.72M	5,421.39M	5,230.48M	4,914.11M	4,817.46M	4,805.71M	5,494.72M	5,420.08M	4,701.42M	4,826.45M	4,662.22M	4,790.95M	3,922.40M	3,513.19M	3,520.89M	3,336.32M	3,373.60M	3,071.60M	3,087.80M	2,255.10M	2,083.50M
Long-Term Debt	258.18M	258.34M	257.86M	181.09M	175.80M	175.64M	226.87M	227.37M	177.84M	80.33M	80.92M	81.48M	161.63M	216.55M	280.22M	207.41M	204.50M	274.45M	289.24M	547.95M	593.42M	799.74M	839.57M	793.97M	579.93M	664.22M	656.86M	638.40M	630.90M	193.10M	40.90M	5.30M
Capital Lease Obligations	3.88M	4.03M	4.33M	4.89M	5.43M	5.92M	6.39M	6.82M	7.22M	7.59M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.44M	1.31M	1.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	125.59M	126.56M	158.63M	168.31M	194.21M	132.64M	210.19M	139.46M	48.00M	44.32M	37.82M	59.14M	61.13M	56.13M	55.05M	57.70M	52.85M	38.32M	63.78M	65.46M	52.68M	43.31M	35.98M	41.88M	30.23M	28.36M	44.98M	42.10M	38.90M	33.40M	27.20M	23.20M
Total Non-Current Liabilities	387.64M	388.92M	420.81M	354.30M	375.43M	314.20M	443.45M	373.64M	235.49M	133.55M	119.82M	140.63M	222.75M	272.69M	335.28M	265.12M	257.35M	312.77M	353.02M	613.41M	646.10M	843.06M	875.55M	835.85M	610.16M	692.58M	701.84M	680.50M	669.80M	226.50M	68.10M	28.50M
Total Liabilities	10,768.54M	10,719.38M	10,178.97M	10,144.45M	8,753.59M	8,435.01M	7,999.49M	7,253.11M	6,855.31M	6,421.72M	5,935.17M	5,847.34M	5,644.14M	5,503.16M	5,249.38M	5,082.58M	5,063.07M	5,807.48M	5,773.10M	5,314.83M	5,472.56M	5,505.28M	5,666.50M	4,758.25M	4,123.35M	4,213.46M	4,038.16M	4,054.10M	3,741.40M	3,314.30M	2,323.20M	2,112.00M
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	46.50M	0.00M	0.00M	0.00M	0.00M
Common Stock	126.60M	126.60M	123.60M	123.60M	113.92M	113.92M	113.92M	113.92M	113.92M	113.92M	105.56M	105.56M	105.56M	105.56M	105.56M	105.56M	105.52M	86.60M	86.60M	75.10M	75.10M	71.98M	71.98M	63.70M	62.53M	62.53M	62.53M	62.50M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	1,037.02M	1,009.79M	971.08M	881.11M	774.86M	691.26M	596.61M	577.35M	511.41M	437.42M	412.76M	378.08M	353.03M	334.75M	315.61M	294.06M	291.49M	278.89M	309.95M	319.25M	322.42M	318.57M	307.36M	312.26M	296.17M	288.22M	272.17M	257.80M	235.60M	228.20M	168.70M	157.60M
Accumulated OCI	-69.22M	-76.15M	-102.51M	-111.76M	-137.69M	-8.77M	17.23M	5.58M	-11.34M	-6.17M	-7.03M	-2.39M	-4.50M	-20.59M	1.26M	2.00M	-2.46M	-6.05M	-21.27M	-9.75M	-19.51M	-23.26M	3.83M	13.18M	22.80M	4.58M	-13.10M	-46.50M	2.20M	2.20M	1.30M	0.50M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	1,094.41M	1,060.24M	992.17M	892.96M	751.09M	796.41M	727.76M	696.84M	613.98M	545.16M	511.30M	481.26M	454.09M	419.72M	422.43M	401.62M	394.55M	359.44M	375.28M	384.60M	378.00M	367.29M	383.17M	389.14M	381.49M	355.32M	321.60M	320.30M	237.80M	230.40M	170.00M	158.10M
Total Equity	1,094.41M	1,060.24M	992.17M	892.96M	751.09M	796.41M	727.76M	696.84M	613.98M	545.16M	511.30M	481.26M	454.09M	419.72M	422.43M	401.62M	394.55M	359.44M	375.28M	384.60M	378.00M	367.29M	383.17M	389.14M	381.49M	355.32M	321.60M	320.30M	237.80M	230.40M	170.00M	158.10M
Total Liabilities & Equity	11,862.94M	11,779.62M	11,171.14M	11,037.40M	9,504.68M	9,231.42M	8,727.25M	7,949.95M	7,469.29M	6,966.88M	6,446.47M	6,328.60M	6,098.23M	5,922.89M	5,671.81M	5,484.20M	5,457.61M	6,166.92M	6,148.38M	5,699.43M	5,850.56M	5,872.57M	6,049.67M	5,147.39M	4,504.84M	4,568.79M	4,359.76M	4,374.40M	3,979.20M	3,544.70M	2,493.20M	2,270.10M
Tangible Assets	11,909.53M	11,834.59M	11,201.58M	11,072.95M	9,493.13M	9,270.02M	8,751.28M	7,989.08M	7,541.02M	7,038.18M	6,485.52M	6,401.16M	6,197.19M	6,053.59M	5,833.06M	5,677.32M	5,647.51M	6,278.93M	6,255.69M	5,710.22M	5,866.68M	5,888.37M	6,057.36M	5,156.09M	4,516.58M	4,583.53M	4,372.31M	4,340.80M	4,096.80M	3,668.60M	2,584.60M	2,364.30M
Tangible Equity	693.55M	657.68M	608.82M	506.42M	438.55M	481.89M	410.94M	377.15M	326.74M	274.80M	312.80M	315.53M	291.00M	258.46M	260.10M	237.82M	229.22M	192.08M	205.09M	211.20M	200.77M	229.34M	242.05M	356.03M	373.33M	355.32M	321.60M	320.30M	237.80M	230.40M	170.00M	158.10M
Tangible Book Value	693.55M	657.68M	608.82M	506.42M	438.55M	481.89M	410.94M	377.15M	326.74M	274.80M	312.80M	315.53M	291.00M	258.46M	260.10M	237.82M	229.22M	192.08M	205.09M	211.20M	200.77M	229.34M	242.05M	356.03M	373.33M	355.32M	321.60M	320.30M	237.80M	230.40M	170.00M	158.10M
Total Investments	11,201.60M	11,132.21M	10,501.06M	10,371.73M	8,801.34M	8,360.82M	7,898.60M	7,409.68M	7,073.48M	6,557.22M	6,023.84M	5,972.54M	5,762.12M	5,583.42M	5,337.05M	5,178.39M	5,163.43M	5,776.91M	5,817.81M	5,301.14M	5,464.36M	5,524.51M	5,714.25M	4,860.93M	4,254.75M	4,296.19M	4,093.56M	4,058.80M	3,867.80M	3,426.20M	2,432.20M	2,218.10M
Net Debt	246.33M	324.05M	204.59M	631.94M	394.25M	-81.42M	-12.34M	307.36M	800.72M	680.50M	833.18M	1,522.85M	1,192.96M	765.73M	533.47M	441.71M	322.50M	1,143.82M	1,340.41M	799.64M	997.32M	1,380.38M	1,704.05M	1,340.23M	965.91M	989.58M	837.88M	969.30M	671.90M	279.10M	117.60M	50.60M

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	-9,217.7M	-9,120.9M	-8,477.1M	-8,622.2M	-7,461.3M	-6,684.1M	-6,368.2M	-5,855.3M	-5,611.6M	-5,449.5M	-4,921.1M	-4,750.7M	-4,037.0M	-3,834.7M	-3,639.8M	-3,596.2M	-4,735.9M	-5,405.2M	-5,331.5M	-4,598.9M	-4,730.3M	-4,577.2M	-4,709.0M	-3,834.5M	-3,430.1M	-3,446.9M	-3,245.2M	-3,279.7M	-2,972.1M	-2,970.4M	-2,181.5M	-2,008.0M
Total Capital	1,953.5M	2,006.0M	1,748.3M	2,098.9M	1,606.0M	1,430.0M	1,419.2M	1,491.7M	1,882.3M	1,683.5M	1,698.8M	2,311.9M	1,983.6M	1,554.9M	1,382.5M	1,278.7M	1,142.1M	1,872.2M	2,081.8M	1,470.9M	1,664.8M	1,986.5M	2,318.0M	1,859.0M	1,450.4M	1,462.0M	1,263.2M	1,349.9M	1,126.8M	750.8M	452.6M	378.4M
Capital Employed	1,929.5M	1,906.7M	1,826.8M	1,669.3M	1,427.5M	1,424.3M	1,512.1M	1,429.3M	1,208.4M	1,020.4M	868.7M	860.2M	938.9M	984.4M	1,081.3M	1,023.7M	1,007.1M	951.6M	1,005.8M	1,182.2M	1,217.5M	1,364.1M	1,407.5M	1,266.8M	1,011.6M	1,034.2M	1,036.0M	967.2M	1,025.2M	580.8M	329.5M	280.8M
Invested Capital	1,792.0M	1,845.8M	1,614.9M	1,951.9M	1,451.7M	1,034.6M	1,062.7M	1,369.8M	1,783.3M	1,576.2M	1,583.1M	2,242.4M	1,909.1M	1,477.4M	1,279.5M	1,200.3M	1,072.3M	1,782.6M	1,993.2M	1,368.4M	1,568.7M	1,901.4M	2,236.0M	1,771.2M	1,367.3M	1,359.6M	1,172.0M	1,256.0M	1,027.3M	633.4M	379.0M	302.9M

Cash Flow Statement

Metric	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Net Income	143.28M	151.55M	142.57M	157.06M	128.18M	138.26M	73.45M	105.33M	107.50M	55.17M	59.59M	50.14M	44.45M	41.48M	41.95M	15.27M	22.98M	-20.06M	43.09M	46.25M	52.95M	57.84M	38.65M	53.30M	43.53M	50.19M	47.25M	53.00M	34.00M	39.50M	37.20M	25.50M
Depreciation & Amortization	6.88M	4.90M	5.69M	4.10M	10.55M	11.44M	11.65M	10.37M	8.05M	9.00M	7.12M	7.64M	13.72M	11.09M	7.91M	9.03M	10.71M	9.81M	10.40M	5.19M	8.58M	11.30M	9.49M	7.50M	7.36M	7.76M	7.48M	7.70M	7.90M	7.00M	6.40M	5.10M
Deferred Income Tax	2.28M	5.55M	3.41M	6.84M	-2.01M	1.43M	-8.22M	2.29M	3.47M	20.83M	5.71M	12.65M	4.86M	12.70M	2.55M	-1.19M	-4.67M	-29.11M	-7.44M	-2.47M	-2.73M	0.11M	-1.86M	-2.24M	-0.59M	-0.83M	1.53M	0.30M	-1.40M	1.30M	0.60M	0.90M
Stock-Based Compensation	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3.20M	1.40M	1.00M	0.50M	1.13M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-18.40M	16.51M	3.68M	-8.45M	-10.24M	16.14M	-12.50M	1.65M	-4.10M	0.43M	-1.44M	-0.50M	2.00M	8.34M	12.59M	-0.39M	5.21M	-32.66M	-1.82M	3.89M	3.35M	6.29M	-0.80M	1.79M	-2.17M	-12.34M	6.94M	1.40M	-3.40M	-5.90M	1.30M	0.90M
Accounts Receivable	-0.49M	-0.91M	3.28M	-8.84M	-6.85M	5.89M	-10.74M	0.42M	-2.56M	-1.31M	-0.58M	-0.04M	0.54M	0.92M	2.69M	1.28M	4.19M	3.81M	2.59M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	-17.13M	18.67M	1.22M	5.00M	1.17M	-0.41M	-0.88M	-0.26M	0.38M	0.43M	-0.27M	-0.10M	-0.40M	-1.17M	-1.28M	-1.42M	-0.97M	-2.57M	-7.26M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-0.78M	-1.24M	-0.82M	-4.61M	-4.56M	10.66M	-0.89M	1.48M	-1.93M	1.32M	-0.59M	-0.35M	1.86M	8.59M	11.18M	-0.24M	1.98M	-33.90M	2.85M	3.89M	3.35M	6.29M	-0.80M	1.79M	-2.17M	-12.34M	6.94M	1.40M	-3.40M	-5.90M	1.30M	0.90M
Other Non-Cash Items	15.26M	-18.55M	-25.89M	-8.81M	24.93M	-2.22M	41.24M	-12.01M	20.35M	0.00M	18.29M	2.81M	17.10M	12.12M	13.72M	61.40M	76.65M	129.26M	24.56M	16.89M	2.59M	1.58M	-6.26M	-3.08M	9.42M	1.54M	2.93M	-9.70M	15.80M	6.60M	0.70M	4.60M
Net Cash from Operating Activities	149.31M	159.97M	129.46M	150.76M	151.41M	165.05M	105.70M	107.63M	135.26M	88.31M	89.27M	72.75M	82.14M	85.73M	78.72M	84.12M	110.87M	57.23M	68.78M	69.75M	64.76M	76.70M	39.22M	57.28M	57.54M	46.32M	66.13M	52.70M	52.90M	48.50M	46.20M	37.00M
Capital Expenditures (PPE)	-17.70M	-14.79M	-15.55M	-22.03M	-11.21M	-10.64M	-7.62M	-17.38M	-9.60M	-11.59M	-7.49M	-4.89M	-10.98M	-9.64M	-10.18M	-8.32M	-4.89M	-6.66M	-12.09M	-9.81M	-13.29M	-14.37M	-12.04M	-5.23M	-6.38M	-7.89M	-7.74M	-7.60M	-7.70M	-6.10M	-7.80M	-4.10M
Acquisitions (Net)	0.00M	0.00M	0.00M	14.49M	0.00M	0.00M	0.00M	332.47M	0.71M	3.19M	479.47M	-3.53M	-3.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	60.34M	0.00M	-70.87M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-365.63M	-548.97M	-492.62M	-338.59M	-0.20M	-1,038.60M	-496.86M	-138.87M	-352.62M	-253.31M	-174.10M	-405.03M	-339.65M	-539.89M	-605.44M	-723.81M	-387.14M	-211.47M	-313.59M	-344.12M	-217.23M	-478.50M	-760.91M	-1,414.52M	-563.07M	-814.38M	-190.97M	-492.10M	-1,076.40M	-381.50M	-157.50M	-82.80M
Sales / Maturities of Investments	426.36M	292.34M	376.60M	173.89M	225.20M	555.14M	591.19M	244.77M	204.26M	343.46M	278.04M	470.64M	375.76M	357.34M	574.85M	557.16M	590.71M	436.04M	446.01M	433.46M	436.80M	736.36M	877.87M	1,111.05M	671.89M	717.04M	198.76M	361.20M	568.30M	275.10M	218.00M	173.80M
Other Investing Activities	-459.14M	-34.04M	9.84M	-402.03M	-802.58M	-71.21M	-569.85M	-298.05M	-190.50M	-134.54M	-82.14M	-199.63M	-186.15M	-115.09M	-130.61M	95.00M	346.52M	-308.86M	-730.98M	77.00M	41.01M	-117.03M	-163.36M	21.27M	-55.11M	-107.05M	-14.16M	-147.70M	57.20M	-235.90M	-293.60M	-106.00M
Net Cash from Investing Activities	-416.12M	-305.46M	-121.72M	-574.27M	-588.79M	-565.31M	-483.14M	122.94M	-347.75M	-52.80M	493.77M	-142.43M	-164.06M	-307.28M	-171.38M	-79.96M	542.63M	-90.94M	-610.65M	156.52M	307.63M	126.47M	-129.31M	-287.43M	47.33M	-212.27M	-14.11M	-286.20M	-458.60M	-348.40M	-240.90M	-19.10M
Net Debt Issuance	-286.44M	-56.55M	-442.03M	51.14M	233.17M	-30.21M	-85.57M	-460.01M	77.41M	-161.33M	-639.45M	329.80M	431.37M	223.72M	159.27M	67.46M	-746.01M	-127.94M	422.99M	-184.44M	-384.87M	-327.35M	93.03M	193.49M	-41.90M	164.09M	-133.25M	294.00M	369.30M	187.60M	79.60M	-82.60M
Long-Term Debt Issuance	105.33M	-51.32M	75.66M	-1.27M	-1.21M	-51.15M	-1.09M	48.96M	74.06M	-0.85M	-0.57M	-80.15M	-54.89M	-64.67M	74.52M	5.04M	-67.14M	-10.74M	-252.99M	-38.63M	-219.22M	-41.77M	-165.72M	28.43M	-83.23M	8.53M	19.41M	9.70M	432.20M	141.30M	34.50M	-1.70M
Short-Term Debt Issuance	-391.77M	-5.23M	-517.70M	52.41M	234.38M	20.94M	-84.48M	-508.97M	3.36M	-160.48M	-638.88M	409.95M	486.26M	288.39M	84.75M	62.42M	-678.87M	-117.21M	675.98M	-145.81M	-165.65M	-285.58M	258.75M	165.06M	41.33M	155.56M	-152.66M	284.30M	-62.90M	46.30M	45.10M	-80.90M
Net Stock Issuance	-20.78M	-5.21M	-12.43M	-14.72M	-15.35M	-31.08M	-20.68M	-6.05M	-25.98M	-1.23M	-0.65M	-25.19M	-30.76M	-33.26M	-35.21M	0.21M	88.15M	0.47M	113.19M	-8.15M	3.47M	5.05M	9.68M	5.92M	4.66M	2.50M	-0.55M	-49.80M	0.10M	-5.90M	-5.80M	-1.30M
Common Stock Issuance	0.24M	0.20M	0.20M	0.25M	0.25M	0.22M	0.22M	0.21M	0.21M	0.23M	0.22M	0.19M	0.19M	0.18M	1.03M	0.22M	88.16M	0.48M	113.19M	0.00M	0.00M	5.05M	9.68M	0.00M	4.66M	2.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-21.02M	-5.41M	-12.63M	-14.97M	-15.60M	-31.30M	-20.91M	-6.26M	-26.19M	-1.46M	-0.86M	-25.38M	-30.96M	-33.44M	-36.24M	-0.01M	-0.01M	-0.02M	0.00M	-9.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-54.72M	-52.14M	-52.60M	-50.81M	-44.58M	-43.61M	-42.98M	-39.39M	-34.85M	-30.51M	-24.91M	-25.09M	-26.17M	-22.34M	-18.76M	-12.56M	-5.31M	-29.68M	-49.38M	-49.55M	-48.51M	-46.19M	-41.74M	-36.63M	-35.21M	-33.81M	-32.55M	-27.80M	-25.70M	-21.70M	-19.90M	-14.30M
Common Dividends Paid	-54.72M	-52.14M	-52.60M	-50.81M	-44.58M	-43.61M	-42.98M	-39.39M	-34.85M	-30.51M	-24.91M	-25.09M	-26.17M	-22.34M	-18.76M	-12.56M	-5.31M	-29.68M	-49.38M	-49.55M	-48.51M	-46.19M	-41.74M	-36.63M	-35.21M	-33.81M	-32.55M	-27.80M	-25.70M	-21.70M	-19.90M	-14.30M
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	207.86M	504.62M	485.74M	430.66M	23.01M	543.95M	761.40M	297.78M	187.77M	149.18M	128.18M	-214.93M	-295.42M	28.07M	11.87M	-50.65M	-10.04M	191.85M	42.55M	21.54M	66.53M	171.45M	26.19M	60.91M	-49.44M	29.45M	114.80M	20.80M	47.30M	127.60M	160.80M	81.40M
Net Cash from Financing Activities	-154.09M	390.73M	-21.32M	416.26M	196.25M	439.05M	612.16M	-207.67M	204.14M	-43.89M	-536.82M	64.60M	79.02M	196.00M	117.16M	4.46M	-673.20M	34.70M	529.36M	-220.61M	-363.38M	-197.04M	87.17M	223.69M	-121.89M	162.23M	-51.55M	237.20M	391.00M	287.60M	214.70M	-16.80M
Effect of FX on Cash	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.10M	0.00M	0.00M	0.00M	-17.90M
Net Change in Cash	-420.90M	245.24M	-13.58M	-7.25M	-241.13M	38.79M	234.73M	22.91M	-8.35M	-8.39M	46.23M	-5.09M	-2.90M	-25.54M	24.50M	8.62M	-19.70M	0.99M	-12.51M	5.66M	9.00M	6.54M	-2.92M	-6.46M	-17.02M	-3.72M	0.48M	3.80M	-14.80M	-12.30M	-104.60M	-66.10M
Cash at Beginning of Period	1,017.24M	982.72M	146.99M	154.24M	395.37M	356.58M	121.86M	98.95M	107.29M	115.68M	69.45M	74.54M	77.44M	102.98M	78.48M	69.86M	89.56M	88.28M	100.79M	95.13M	86.13M	79.59M	82.51M	88.97M	98.13M	101.85M	101.37M	97.60M	112.40M	124.70M	104.60M	66.10M
Cash at End of Period	596.34M	1,227.96M	133.41M	146.99M	154.24M	395.37M	356.58M	121.86M	98.95M	107.29M	115.68M	69.45M	74.54M	77.44M	102.98M	78.48M	69.86M	89.23M	88.28M	100.79M	95.13M	86.13M	79.59M	82.51M	81.11M	98.13M	101.85M	101.40M	97.60M	112.40M	246.70M	49.30M
Operating Cash Flow	149.31M	159.97M	129.46M	150.76M	151.41M	165.05M	105.70M	107.63M	135.26M	88.31M	89.27M	72.75M	82.14M	85.73M	78.72M	84.12M	110.87M	57.23M	68.78M	69.75M	64.76M	76.70M	39.22M	57.28M	57.54M	46.32M	66.13M	52.70M	52.90M	48.50M	46.20M	37.00M
Capital Expenditure	-3.78M	-14.79M	-15.55M	-22.03M	-11.21M	-10.64M	-7.62M	-17.38M	-9.60M	-11.59M	-7.49M	-4.89M	-10.98M	-9.64M	-10.18M	-8.32M	-4.89M	-6.66M	-12.09M	-9.81M	-13.29M	-14.37M	-12.04M	-5.23M	-6.38M	-7.89M	-7.74M	-7.60M	-7.70M	-6.10M	-7.80M	-4.10M
Free Cash Flow	145.53M	145.18M	113.92M	128.73M	140.21M	154.41M	98.08M	90.25M	125.66M	76.71M	82.21M	67.86M	71.16M	76.10M	68.54M	75.80M	105.98M	50.58M	56.69M	59.94M	51.47M	62.33M	27.18M	52.05M	51.16M	38.44M	58.40M	45.10M	45.20M	42.40M	38.40M	32.90M

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	384.54M	302.84M	293.85M	316.73M	266.44M	271.10M	187.92M	222.79M	214.83M	191.32M	148.96M	137.59M	143.96M	133.33M	132.47M	96.98M	101.09M	64.73M	138.04M	126.41M	135.26M	152.82M	147.49M	125.56M	127.98M	124.57M	115.95M	126.03M	107.40M	105.50M	101.00M	71.70M
(-) Tax Adjustment	77.68M	61.67M	58.76M	64.92M	53.23M	54.21M	34.91M	43.44M	40.89M	66.96M	44.81M	40.39M	40.96M	35.89M	34.30M	0.00M	1.04M	22.65M	18.41M	14.41M	19.70M	28.50M	12.91M	25.00M	21.75M	29.04M	26.92M	34.02M	28.36M	32.13M	30.64M	22.94M
(-) Change In Working Capital	-18.40M	16.51M	3.68M	-8.45M	-10.24M	16.14M	-12.50M	1.65M	-4.10M	0.43M	-1.44M	-0.50M	2.00M	8.34M	12.59M	-0.39M	5.21M	-32.66M	-1.82M	3.89M	3.35M	6.29M	-0.80M	1.79M	-2.17M	-12.34M	6.94M	1.40M	-3.40M	-5.90M	1.30M	0.90M
(-) Capital Expenditure	-3.78M	-14.79M	-15.55M	-22.03M	-11.21M	-10.64M	-7.62M	-17.38M	-9.60M	-11.59M	-7.49M	-4.89M	-10.98M	-9.64M	-10.18M	-8.32M	-4.89M	-6.66M	-12.09M	-9.81M	-13.29M	-14.37M	-12.04M	-5.23M	-6.38M	-7.89M	-7.74M	-7.60M	-7.70M	-6.10M	-7.80M	-4.10M
Unlevered Free Cash Flow	300.69M	209.87M	215.86M	238.22M	212.24M	190.11M	157.90M	160.31M	168.44M	112.33M	98.10M	92.81M	90.02M	79.46M	75.40M	89.04M	89.96M	68.07M	109.35M	98.29M	98.91M	103.67M	123.34M	93.54M	102.02M	99.99M	74.34M	83.00M	74.74M	73.17M	61.26M	43.76M
(-) Net Interest Income After Taxes	323.50M	300.35M	301.48M	304.23M	249.14M	222.42M	217.88M	217.24M	204.21M	148.71M	137.18M	130.72M	131.41M	134.94M	140.01M	189.82M	204.56M	134.10M	161.41M	142.98M	142.64M	141.11M	152.69M	114.95M	126.91M	108.69M	105.45M	105.78M	99.42M	90.61M	87.78M	63.44M
Net Debt Issuance	-286.44M	-56.55M	-442.03M	51.14M	233.17M	-30.21M	-85.57M	-460.01M	77.41M	-161.33M	-639.45M	329.80M	431.37M	223.72M	159.27M	67.46M	-746.01M	-127.94M	422.99M	-184.44M	-384.87M	-327.35M	93.03M	193.49M	-41.90M	164.09M	-133.25M	294.00M	369.30M	187.60M	79.60M	-82.60M
Levered Free Cash Flow	-309.26M	-147.03M	-527.66M	-14.87M	196.27M	-62.52M	-145.55M	-516.93M	41.64M	-197.70M	-678.53M	291.89M	389.97M	168.23M	94.66M	-33.32M	-860.62M	-193.96M	370.93M	-229.13M	-428.60M	-364.79M	63.68M	172.08M	-66.79M	155.39M	-164.36M	271.22M	344.61M	170.15M	53.08M	-102.29M