Alliant Energy Corporation (0HCT.L)

Industry: General Utilities Sector: Utilities Currency Used: US Live Price: $67.42

Enterprise Value

Metric	MRQ	MRQ-1	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Stock Price	67.23	60.25	63.71	55.31	51.08	57.83	57.19	49.26	51.02	41.85	32.20	32.20	32.20	32.20	32.20
Market Capitalization	17,278.11M	15,478.22M	16,366.36M	14,184.35M	12,920.96M	14,508.36M	14,310.76M	12,287.35M	12,191.70M	9,816.67M	7,396.35M	7,312.63M	7,256.29M	7,135.53M	7,135.53M
(-) Cash & Equivalents	503.00M	329.00M	285.67M	258.00M	109.50M	112.50M	22.00M	126.58M	97.50M	71.18M	13.20M	26.05M	74.35M	24.65M	23.10M
(+) Total Debt	11,921.00M	11,307.00M	11,285.67M	10,179.75M	9,282.25M	8,396.50M	7,428.75M	6,852.20M	6,449.08M	5,686.28M	4,869.68M	4,276.50M	3,916.58M	3,690.55M	3,434.75M
Enterprise Value	28,696.11M	26,456.22M	27,366.36M	24,106.10M	22,093.71M	22,792.36M	21,717.51M	19,012.97M	18,543.27M	15,431.77M	12,252.82M	11,563.08M	11,098.51M	10,801.43M	10,547.18M

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
Revenue	4,275M	3,967M	3,981M	4,027M	4,205M	3,669M	3,416M	3,648M	3,535M	3,382M	3,320M	3,254M	3,350M	3,277M	3,095M
Cost of Revenue	2,693M	2,754M	2,884M	2,969M	3,167M	2,770M	2,568M	2,759M	2,736M	2,623M	2,594M	2,573M	2,318M	2,272M	2,144M
Gross Profit	1,582M	1,213M	1,097M	1,058M	1,038M	899M	848M	889M	799M	759M	726M	681M	1,033M	1,004M	950M
Gross Profit Margin	37.0%	30.6%	27.6%	26.3%	24.7%	24.5%	24.8%	24.4%	22.6%	22.4%	21.9%	20.9%	30.8%	30.7%	30.7%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	0M	26M	0M	26M	27M	9M	24M	32M	17M	30M	29M	0M	0M	0M	0M
Operating Expenses	504M	365M	122M	115M	110M	104M	108M	111M	104M	106M	102M	104M	414M	396M	367M
Operating Income (EBIT)	1,078M	848M	975M	943M	928M	795M	740M	778M	694M	653M	623M	577M	619M	608M	583M
Operating Income Margin	25.2%	21.4%	24.5%	23.4%	22.1%	21.7%	21.7%	21.3%	19.6%	19.3%	18.8%	17.7%	18.5%	18.6%	18.8%
Interest Income	0M	0M	0M	0M	325M	292M	285M	283M	257M	226M	206M	197M	189M	190M	169M
Interest Expense	491M	434M	428M	368M	325M	277M	275M	273M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-491M	-434M	-428M	-368M	0M	15M	10M	10M	257M	226M	206M	197M	189M	190M	169M
Unusual Items	113M	143M	29M	132M	-220M	-210M	-183M	-152M	-381M	-346M	-386M	-312M	-378M	-381M	-337M
EBT Excluding Unusual Items	587M	414M	547M	575M	928M	810M	750M	788M	951M	879M	830M	774M	808M	799M	752M
Pre-Tax Income	700M	557M	576M	707M	708M	600M	567M	636M	570M	533M	443M	461M	430M	418M	414M
Pre-Tax Margin	16.4%	14.0%	14.5%	17.6%	16.8%	16.4%	16.6%	17.4%	16.1%	15.8%	13.4%	14.2%	12.8%	12.8%	13.4%
Income Tax Expense	-118M	-104M	-114M	4M	22M	-74M	-57M	69M	48M	67M	59M	70M	44M	54M	89M
Net Income	818M	661M	690M	703M	686M	674M	624M	567M	522M	468M	382M	388M	386M	364M	325M
Net Income Margin	19.1%	16.7%	17.3%	17.5%	16.3%	18.4%	18.3%	15.6%	14.8%	13.8%	11.5%	11.9%	11.5%	11.1%	10.5%
Depreciation & Amortization	831M	745M	792M	676M	671M	657M	615M	567M	518M	484M	407M	414M	442M	411M	388M
EBITDA	1,909M	1,593M	1,767M	1,619M	1,599M	1,452M	1,355M	1,345M	1,212M	1,137M	1,030M	991M	1,061M	1,020M	971M
EBITDA Margin	44.7%	40.2%	44.4%	40.2%	38.0%	39.6%	39.7%	36.9%	34.3%	33.6%	31.0%	30.4%	31.7%	31.1%	31.4%
NOPAT	1,260M	1,006M	1,168M	938M	899M	893M	814M	694M	636M	572M	540M	489M	555M	530M	457M
NOPAT Margin	29.5%	25.4%	29.3%	23.3%	21.4%	24.3%	23.8%	19.0%	18.0%	16.9%	16.3%	15.0%	16.6%	16.2%	14.8%
Owner's Earnings	834M	-589M	-767M	-475M	-127M	162M	-127M	-506M	-594M	-516M	-408M	-232M	-75M	-23M	-445M
Owner's Earnings Margin	19.5%	-14.8%	-19.3%	-11.8%	-3.0%	4.4%	-3.7%	-13.9%	-16.8%	-15.3%	-12.3%	-7.1%	-2.2%	-0.7%	-14.4%
EPS (Basic)	3.18	2.58	2.69	2.78	2.73	2.63	2.47	2.34	2.24	2.04	1.68	1.72	1.74	1.64	1.47
EPS (Diluted)	3.18	2.58	2.69	2.78	2.73	2.69	2.51	2.38	2.24	2.04	1.68	1.72	1.74	1.64	1.47
Shares (Basic)	257M	256M	257M	253M	251M	250M	248M	239M	234M	230M	227M	225M	222M	222M	222M
Shares (Diluted)	257M	257M	257M	253M	251M	251M	249M	239M	234M	230M	227M	225M	222M	222M	222M

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
Cash & Cash Equivalents	503.00M	329.00M	81.00M	62.00M	20.00M	39.00M	54.00M	16.30M	20.90M	27.90M	8.20M	5.80M	56.90M	9.80M	21.20M
Short-Term Investments	250.00M	0.00M	0.00M	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	753.00M	329.00M	81.00M	62.00M	20.00M	39.00M	54.00M	16.30M	20.90M	27.90M	8.20M	5.80M	56.90M	9.80M	21.20M
Net Receivables	485.00M	518.00M	427.00M	475.00M	516.00M	440.00M	412.00M	355.00M	350.40M	482.80M	493.30M	397.60M	345.70M	377.60M	430.90M
Inventory	281.00M	278.00M	295.00M	343.00M	325.00M	246.00M	217.00M	227.30M	211.80M	222.40M	222.30M	223.50M	223.80M	211.80M	203.90M
Other Current Assets	325.00M	349.00M	381.00M	392.00M	389.00M	344.00M	204.00M	235.20M	159.80M	172.00M	153.30M	199.90M	416.70M	275.50M	297.90M
Total Current Assets	1,844.00M	1,474.00M	1,184.00M	1,272.00M	1,250.00M	1,069.00M	887.00M	833.80M	742.90M	905.10M	877.10M	826.80M	1,043.10M	874.70M	953.90M
Property, Plant & Equipment	19,813.00M	19,376.00M	18,701.00M	17,157.00M	16,247.00M	14,987.00M	14,336.00M	13,527.10M	12,462.40M	11,234.50M	10,279.20M	9,519.10M	8,938.40M	8,326.50M	7,838.00M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	689.00M	696.00M	673.00M	603.00M	685.00M	580.00M	495.00M	478.80M	435.00M	400.10M	349.60M	349.60M	344.90M	329.60M	319.00M
Tax Assets	0.00M	0.00M	721.00M	0.00M	779.00M	696.00M	635.00M	503.40M	555.30M	536.60M	597.20M	677.10M	0.00M	0.00M	0.00M
Other Non-Current Assets	2,281.00M	2,204.00M	2,156.00M	2,205.00M	1,981.00M	1,917.00M	1,992.00M	1,819.30M	1,743.50M	1,648.10M	1,867.90M	1,799.70M	1,737.10M	1,445.10M	-8,157.00M
Other Assets	0.00M	0.00M	0.00M	751.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1,634.20M
Total Non-Current Assets	22,783.00M	22,276.00M	22,251.00M	20,716.00M	19,692.00M	18,180.00M	17,458.00M	16,328.60M	15,196.20M	13,819.30M	13,093.90M	12,345.50M	11,020.40M	10,101.20M	1,634.20M
Total Assets	24,627.00M	23,750.00M	23,435.00M	21,988.00M	20,942.00M	19,249.00M	18,345.00M	17,162.40M	15,939.10M	14,724.40M	13,971.00M	13,172.30M	12,063.50M	10,975.90M	2,588.10M
Accounts Payable	550.00M	497.00M	532.00M	611.00M	756.00M	436.00M	377.00M	422.30M	543.30M	477.30M	445.30M	402.40M	427.90M	365.00M	339.30M
Short-Term Debt	1,266.00M	1,665.00M	1,731.00M	1,284.00M	1,058.00M	1,151.00M	408.00M	996.60M	697.70M	1,270.90M	248.70M	473.20M	324.30M	637.90M	0.00M
Tax Payables	0.00M	0.00M	0.00M	0.00M	0.00M	58.00M	67.00M	0.00M	0.00M	0.00M	59.50M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	58.00M	67.00M	0.00M	0.00M	0.00M	59.50M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	418.00M	417.00M	452.00M	409.00M	549.00M	409.00M	445.00M	635.20M	403.10M	400.80M	408.50M	483.70M	462.50M	430.40M	680.70M
Total Current Liabilities	2,234.00M	2,579.00M	2,715.00M	2,304.00M	2,363.00M	2,112.00M	1,364.00M	2,054.10M	1,644.10M	2,149.00M	1,221.50M	1,359.30M	1,214.70M	1,433.30M	1,020.00M
Long-Term Debt	10,655.00M	9,642.00M	8,677.00M	8,225.00M	7,668.00M	6,735.00M	6,769.00M	5,533.00M	5,246.30M	4,010.60M	4,315.60M	3,522.20M	3,584.30M	2,977.80M	3,196.60M
Capital Lease Obligations	0.00M	0.00M	211.00M	195.00M	144.00M	12.00M	55.00M	14.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	2,187.00M	2,198.00M	2,909.00M	2,793.00M	2,722.00M	2,623.00M	2,449.00M	2,217.40M	2,158.40M	2,015.00M	3,167.40M	3,058.30M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	2,244.00M	2,186.00M	1,921.00M	1,696.00M	1,769.00M	1,835.00M	1,887.00M	1,980.50M	2,146.80M	2,167.60M	1,264.00M	1,308.40M	3,624.00M	3,218.10M	-3,196.60M
Total Non-Current Liabilities	15,086.00M	14,026.00M	13,718.00M	12,909.00M	12,303.00M	11,205.00M	11,160.00M	9,744.90M	9,551.50M	8,193.20M	8,747.00M	7,888.90M	7,208.30M	6,195.90M	0.00M
Total Liabilities	17,320.00M	16,605.00M	16,433.00M	15,213.00M	14,666.00M	13,317.00M	12,524.00M	11,799.00M	11,195.60M	10,342.20M	9,968.50M	9,248.20M	8,423.00M	7,629.20M	1,020.00M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	10.00M	9.00M	200.00M	200.00M	200.00M	200.00M	200.00M	200.00M	0.00M	0.00M	0.00M
Common Stock	3.00M	3.00M	3.00M	3.00M	3.00M	3.00M	2.00M	2.50M	2.40M	2.30M	2.30M	1.10M	1.10M	1.10M	1.10M
Retained Earnings	4,231.00M	4,080.00M	3,954.00M	3,756.00M	3,509.00M	3,250.00M	2,994.00M	2,765.40M	2,545.90M	2,346.00M	2,177.00M	2,068.90M	1,938.00M	1,780.70M	1,630.70M
Accumulated OCI	0.00M	0.00M	1.00M	-12.00M	-13.00M	-12.00M	-1.00M	1.30M	1.70M	-11.60M	-10.40M	-8.90M	-9.50M	-8.20M	0.00M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	200.00M	200.00M	200.00M	200.00M	200.00M	200.00M	201.80M	201.80M	146.90M
Total Shareholders’ Equity	4,234.00M	4,083.00M	3,958.00M	3,747.00M	3,509.00M	3,250.00M	3,195.00M	2,969.20M	2,750.00M	2,536.70M	2,368.90M	2,261.10M	1,929.60M	1,773.60M	1,631.80M
Total Equity	4,234.00M	4,083.00M	3,958.00M	3,747.00M	3,509.00M	3,250.00M	3,395.00M	3,169.20M	2,950.00M	2,736.70M	2,568.90M	2,461.10M	2,131.40M	1,975.40M	1,778.70M
Total Liabilities & Equity	21,554.00M	20,688.00M	20,391.00M	18,960.00M	18,175.00M	16,567.00M	15,919.00M	14,968.20M	14,145.60M	13,078.90M	12,537.40M	11,709.30M	10,554.40M	9,604.60M	2,798.70M
Tangible Assets	24,627.00M	23,750.00M	23,435.00M	21,988.00M	20,942.00M	19,249.00M	18,345.00M	17,162.40M	15,939.10M	14,724.40M	13,971.00M	13,172.30M	12,063.50M	10,975.90M	2,588.10M
Tangible Equity	4,234.00M	4,083.00M	3,958.00M	3,747.00M	3,509.00M	3,250.00M	3,395.00M	3,169.20M	2,950.00M	2,736.70M	2,568.90M	2,461.10M	2,131.40M	1,975.40M	1,778.70M
Tangible Book Value	4,234.00M	4,083.00M	3,958.00M	3,747.00M	3,509.00M	3,250.00M	3,395.00M	3,169.20M	2,950.00M	2,736.70M	2,568.90M	2,461.10M	2,131.40M	1,975.40M	1,778.70M
Total Investments	939.00M	696.00M	673.00M	603.00M	685.00M	580.00M	495.00M	478.80M	435.00M	400.10M	349.60M	349.60M	344.90M	329.60M	319.00M
Net Debt	11,418.00M	10,978.00M	10,327.00M	9,447.00M	8,706.00M	7,847.00M	7,123.00M	6,513.30M	5,923.10M	5,253.60M	4,556.10M	3,989.60M	3,851.70M	3,605.90M	3,175.40M

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
Working Capital	-390.0M	-1,105.0M	-1,531.0M	-1,032.0M	-1,113.0M	-985.0M	-410.0M	-1,178.6M	-859.0M	-1,243.9M	-284.9M	-532.5M	-171.6M	-422.1M	-25.7M
Total Capital	19,228.0M	18,452.0M	17,621.0M	16,479.0M	15,146.0M	13,888.0M	13,120.0M	11,948.7M	10,729.7M	9,663.7M	8,626.3M	7,919.5M	7,347.3M	6,897.1M	3,134.9M
Capital Employed	22,393.0M	21,171.0M	20,720.0M	19,684.0M	18,579.0M	17,195.0M	17,048.0M	15,150.0M	14,337.2M	12,575.4M	12,809.0M	11,813.0M	10,848.8M	9,679.1M	9,765.5M
Invested Capital	18,725.0M	18,123.0M	17,540.0M	16,417.0M	15,126.0M	13,849.0M	13,066.0M	11,932.4M	10,708.8M	9,635.8M	8,618.1M	7,913.7M	7,290.4M	6,887.3M	3,113.7M

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
Net Income	818.00M	661.00M	690.00M	703.00M	686.00M	674.00M	614.00M	567.40M	522.30M	466.10M	384.00M	390.90M	383.10M	358.30M	319.80M
Depreciation & Amortization	831.00M	745.00M	792.00M	676.00M	671.00M	657.00M	615.00M	567.20M	517.50M	483.50M	406.80M	413.70M	442.30M	411.10M	387.90M
Deferred Income Tax	74.00M	217.00M	142.00M	98.00M	17.00M	115.00M	105.00M	109.40M	122.90M	221.30M	187.00M	94.60M	-57.00M	138.20M	-58.20M
Stock-Based Compensation	4.00M	25.00M	0.00M	12.00M	13.00M	14.00M	16.00M	26.00M	17.00M	15.10M	18.00M	10.70M	15.30M	12.00M	6.90M
Change in Working Capital	-381.00M	767.00M	-475.00M	-449.00M	-870.00M	-881.00M	-841.00M	-538.00M	-580.70M	-155.30M	-149.50M	-127.80M	-112.50M	-234.20M	51.30M
Accounts Receivable	-559.00M	-530.00M	-547.00M	-414.00M	-672.00M	-530.00M	-468.00M	-471.70M	-475.40M	20.60M	-121.40M	36.80M	41.70M	-150.20M	51.30M
Inventory	39.00M	21.00M	0.00M	-62.00M	0.00M	-13.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	37.00M	28.00M	96.00M	-122.00M	78.00M	13.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	96.00M	1,248.00M	-24.00M	149.00M	-276.00M	-351.00M	-373.00M	-66.30M	-105.30M	-175.90M	-28.10M	-164.60M	-154.20M	-84.00M	0.00M
Other Non-Cash Items	-192.00M	-1,257.00M	18.00M	-173.00M	-31.00M	3.00M	-8.00M	-71.60M	1,456.10M	914.20M	966.30M	890.40M	163.40M	183.80M	133.40M
Net Cash from Operating Activities	1,154.00M	1,158.00M	1,167.00M	867.00M	486.00M	582.00M	501.00M	660.40M	527.70M	983.40M	859.60M	871.20M	891.60M	731.00M	841.10M
Capital Expenditures (PPE)	-815.00M	-1,995.00M	-2,249.00M	-1,854.00M	-1,484.00M	-1,169.00M	-1,366.00M	-1,640.10M	-1,633.90M	-1,466.90M	-1,196.80M	-1,034.30M	-902.80M	-798.30M	-1,158.10M
Acquisitions (Net)	0.00M	246.00M	0.00M	0.00M	29.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	139.90M	0.00M	0.00M	0.00M
Purchases of Investments	-250.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	123.00M	123.00M	120.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	-1,147.00M	237.00M	579.00M	333.00M	551.00M	441.00M	415.00M	352.80M	567.10M	-29.40M	10.30M	-24.80M	-14.90M	43.60M	2.60M
Net Cash from Investing Activities	-2,212.00M	-1,389.00M	-1,547.00M	-1,401.00M	-904.00M	-728.00M	-951.00M	-1,287.30M	-1,066.80M	-1,496.30M	-1,186.50M	-919.20M	-917.70M	-754.70M	-1,155.50M
Net Debt Issuance	1,232.00M	1,330.00M	887.00M	780.00M	832.00M	718.00M	645.00M	589.70M	670.30M	716.50M	570.90M	86.20M	0.00M	261.90M	0.00M
Long-Term Debt Issuance	1,370.00M	1,501.00M	804.00M	947.00M	705.00M	592.00M	593.00M	589.70M	670.30M	716.50M	570.90M	86.20M	0.00M	261.90M	0.00M
Short-Term Debt Issuance	-138.00M	-171.00M	83.00M	-167.00M	127.00M	126.00M	52.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	5.00M	63.00M	23.00M	246.00M	25.00M	-172.00M	247.00M	390.30M	196.60M	149.60M	26.60M	151.20M	0.00M	-11.00M	0.00M
Common Stock Issuance	5.00M	63.00M	23.00M	246.00M	25.00M	28.00M	247.00M	390.30M	196.60M	149.60M	26.60M	151.20M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	-200.00M	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
Net Dividends Paid	-514.00M	-484.00M	-492.00M	-456.00M	-428.00M	-403.00M	-377.00M	-337.70M	-312.20M	-288.30M	-266.50M	-247.30M	-225.80M	-208.30M	-199.30M
Common Dividends Paid	-514.00M	-484.00M	-492.00M	-456.00M	-428.00M	-403.00M	-377.00M	-337.70M	-312.20M	-288.30M	-266.50M	-247.30M	-225.80M	-208.30M	-199.30M
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	-10.20M	-11.40M	-15.90M
Other Financing Activities	8.00M	-57.00M	-20.00M	3.00M	-27.00M	-13.00M	-27.00M	-23.20M	-23.70M	-45.20M	-1.70M	6.80M	299.00M	-30.30M	523.50M
Net Cash from Financing Activities	731.00M	852.00M	398.00M	573.00M	402.00M	130.00M	488.00M	619.10M	530.70M	532.60M	329.30M	-3.10M	73.20M	12.30M	324.20M
Effect of FX on Cash	3.00M	0.00M	1.00M	0.00M	-3.00M	1.00M	-0.30M	-0.20M	0.10M	0.00M	5.40M	0.00M	0.00M	0.00M	11.40M
Net Change in Cash	-324.00M	621.00M	18.00M	39.00M	-19.00M	-15.00M	37.70M	-4.60M	-7.00M	19.70M	2.40M	-51.10M	47.10M	-11.40M	21.20M
Cash at Beginning of Period	1,262.00M	392.00M	63.00M	24.00M	39.00M	54.00M	16.30M	20.90M	27.90M	8.20M	5.80M	56.90M	9.80M	21.20M	0.00M
Cash at End of Period	938.00M	1,013.00M	81.00M	63.00M	20.00M	39.00M	54.00M	16.30M	20.90M	27.90M	8.20M	5.80M	56.90M	9.80M	21.20M
Operating Cash Flow	1,154.00M	1,158.00M	1,167.00M	867.00M	486.00M	582.00M	501.00M	660.40M	527.70M	983.40M	859.60M	871.20M	891.60M	731.00M	841.10M
Capital Expenditure	-815.00M	-1,995.00M	-2,249.00M	-1,854.00M	-1,484.00M	-1,169.00M	-1,366.00M	-1,640.10M	-1,633.90M	-1,466.90M	-1,196.80M	-1,034.30M	-902.80M	-798.30M	-1,158.10M
Free Cash Flow	339.00M	-837.00M	-1,082.00M	-987.00M	-998.00M	-587.00M	-865.00M	-979.70M	-1,106.20M	-483.50M	-337.20M	-163.10M	-11.20M	-67.30M	-317.00M

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
EBITDA	2,413.00M	1,932.00M	1,889.00M	1,708.00M	1,682.00M	1,547.00M	1,439.00M	1,423.70M	1,299.30M	1,212.80M	1,104.00M	1,094.40M	1,475.10M	1,415.50M	1,338.20M
(-) Tax Adjustment	0.00M	0.00M	0.00M	9.66M	52.27M	0.00M	0.00M	153.76M	108.73M	151.83M	147.90M	167.02M	152.04M	182.48M	288.76M
(-) Change In Working Capital	-381.00M	767.00M	-475.00M	-449.00M	-870.00M	-881.00M	-841.00M	-538.00M	-580.70M	-155.30M	-149.50M	-127.80M	-112.50M	-234.20M	51.30M
(-) Capital Expenditure	-815.00M	-1,995.00M	-2,249.00M	-1,854.00M	-1,484.00M	-1,169.00M	-1,366.00M	-1,640.10M	-1,633.90M	-1,466.90M	-1,196.80M	-1,034.30M	-902.80M	-798.30M	-1,158.10M
Unlevered Free Cash Flow	-151.00M	-830.00M	115.00M	293.34M	1,015.73M	1,259.00M	914.00M	167.84M	137.37M	-250.63M	-91.20M	20.88M	532.76M	668.92M	-159.96M
(-) Net Interest Income After Taxes	-491.00M	-434.00M	-428.00M	-365.92M	0.00M	15.00M	10.00M	9.01M	235.49M	197.53M	178.75M	166.60M	169.52M	165.77M	132.22M
Net Debt Issuance	1,232.00M	1,330.00M	887.00M	780.00M	832.00M	718.00M	645.00M	589.70M	670.30M	716.50M	570.90M	86.20M	0.00M	261.90M	0.00M
Levered Free Cash Flow	1,572.00M	934.00M	1,430.00M	1,439.25M	1,847.73M	1,962.00M	1,549.00M	748.53M	572.18M	268.34M	300.95M	-59.52M	363.24M	765.05M	-292.18M