Federal Agricultural Mortgage Corporation (AGM-PC)

Industry: Financial - Credit Services Sector: Financial Services Currency Used: US Live Price: $348.71

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	167.98	194.28	183.26	189.24	155.61	104.50	108.02	64.39	78.09	76.56	68.31	42.33	28.69	31.70	31.77	26.86	19.57	13.13	5.51	14.62	29.74	27.68	23.45	23.91	25.78	33.36	32.36	18.22	19.98	15.40	13.73	6.00
Market Capitalization	1,836.69M	2,124.06M	2,001.29M	2,057.15M	1,685.33M	1,127.56M	1,162.14M	690.80M	835.32M	814.94M	724.34M	443.81M	313.91M	345.57M	344.41M	282.95M	202.33M	135.05M	55.84M	145.29M	306.34M	301.47M	265.81M	287.54M	305.50M	400.29M	370.11M	202.09M	247.97M	212.21M	173.96M	52.33M
(-) Cash & Equivalents	901.02M	1,017.49M	988.88M	883.53M	852.43M	882.18M	912.20M	1,000.93M	491.26M	446.37M	325.61M	1,018.25M	1,491.51M	810.44M	736.28M	845.77M	797.46M	481.68M	394.09M	310.36M	517.02M	611.22M	427.63M	462.01M	610.87M	541.31M	427.49M	428.99M	476.00M	384.43M	250.10M	53.43M
(+) Total Debt	29,196.78M	31,001.29M	30,022.73M	27,786.12M	25,873.14M	23,620.96M	22,086.96M	21,712.14M	19,508.51M	17,546.61M	16,323.51M	15,286.60M	14,282.04M	13,311.76M	12,163.79M	11,363.24M	10,131.83M	7,392.52M	4,969.86M	4,929.16M	5,819.49M	4,369.73M	3,722.36M	3,552.95M	3,873.77M	3,637.23M	3,036.83M	2,744.72M	2,358.85M	1,580.10M	1,267.30M	530.63M
Enterprise Value	30,132.45M	32,107.87M	31,035.14M	28,959.74M	26,706.05M	23,866.34M	22,336.90M	21,402.01M	19,852.57M	17,915.18M	16,722.24M	14,712.16M	13,104.45M	12,846.89M	11,771.91M	10,800.42M	9,536.70M	7,045.89M	4,631.61M	4,764.09M	5,608.81M	4,059.97M	3,560.54M	3,378.48M	3,568.40M	3,496.20M	2,979.46M	2,517.83M	2,130.82M	1,407.89M	1,191.16M	529.53M

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	1,614M	1,575M	1,625M	1,416M	755M	448M	520M	666M	556M	418M	332M	285M	274M	300M	268M	227M	244M	279M	147M	285M	277M	226M	174M	186M	185M	196M	207M	148M	109M	85M	40M	38M
Cost of Revenue	1,233M	1,223M	1,261M	1,066M	447M	202M	321M	475M	370M	245M	173M	139M	168M	138M	145M	151M	145M	93M	182M	254M	209M	142M	97M	131M	134M	154M	182M	129M	93M	73M	35M	35M
Gross Profit	382M	352M	364M	350M	308M	246M	199M	191M	186M	173M	160M	146M	107M	162M	124M	76M	99M	186M	-34M	31M	68M	84M	77M	55M	51M	42M	25M	19M	16M	12M	6M	3M
Gross Profit Margin	23.6%	22.3%	22.4%	24.7%	40.8%	54.9%	38.2%	28.6%	33.4%	41.5%	48.1%	51.1%	38.9%	54.0%	46.1%	33.6%	40.7%	66.5%	-23.4%	10.9%	24.5%	37.2%	44.3%	29.5%	27.7%	21.5%	12.1%	12.8%	14.6%	14.5%	13.7%	8.0%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	114M	99M	102M	94M	79M	70M	58M	49M	47M	40M	38M	35M	31M	29M	30M	28M	26M	27M	27M	9M	21M	9M	14M	6M	5M	6M	8M	8M	5M	5M	3M	2M
Operating Expenses	118M	102M	106M	97M	83M	73M	61M	52M	50M	43M	40M	38M	34M	31M	33M	32M	33M	34M	139M	27M	23M	12M	16M	15M	19M	17M	9M	8M	9M	8M	6M	3M
Operating Income (EBIT)	264M	250M	258M	253M	226M	172M	137M	139M	136M	131M	119M	108M	73M	131M	91M	45M	66M	152M	-173M	4M	45M	72M	61M	40M	33M	25M	16M	11M	7M	5M	0M	0M
Operating Income Margin	16.3%	15.9%	15.9%	17.9%	29.9%	38.5%	26.4%	20.8%	24.5%	31.3%	35.9%	37.9%	26.6%	43.8%	33.9%	19.6%	27.3%	54.5%	-117.7%	1.5%	16.1%	32.1%	35.0%	21.3%	17.6%	13.0%	7.8%	7.2%	6.0%	5.5%	0.0%	0.0%
Interest Income	1,592M	1,559M	1,604M	1,392M	717M	426M	504M	645M	544M	401M	312M	265M	241M	247M	265M	275M	239M	176M	256M	298M	250M	193M	163M	162M	172M	182M	195M	140M	104M	80M	37M	36M
Interest Expense	1,212M	1,216M	1,250M	1,065M	446M	204M	313M	472M	370M	243M	172M	139M	171M	137M	143M	153M	143M	91M	167M	253M	212M	142M	96M	124M	133M	153M	178M	125M	93M	73M	35M	35M
Net Interest Income	380M	343M	354M	328M	271M	222M	191M	173M	174M	158M	140M	126M	70M	109M	122M	121M	96M	86M	89M	44M	38M	51M	67M	37M	39M	29M	18M	15M	11M	7M	3M	2M
Unusual Items	-380M	-343M	-354M	-328M	-271M	-222M	-191M	-173M	-174M	-158M	-140M	-126M	-70M	-109M	-122M	-121M	-96M	-86M	-89M	-44M	-38M	-51M	-67M	-37M	-39M	-29M	-18M	-15M	-11M	-7M	-3M	-2M
EBT Excluding Unusual Items	643M	593M	612M	581M	497M	394M	328M	312M	310M	288M	260M	234M	143M	241M	213M	166M	163M	238M	-85M	49M	83M	123M	128M	77M	72M	55M	34M	26M	17M	12M	3M	2M
Pre-Tax Income	264M	250M	258M	253M	226M	172M	137M	139M	136M	131M	119M	108M	73M	131M	91M	45M	66M	152M	-173M	4M	45M	72M	61M	40M	33M	25M	16M	11M	7M	5M	0M	0M
Pre-Tax Margin	16.3%	15.9%	15.9%	17.9%	29.9%	38.5%	26.4%	20.8%	24.5%	31.3%	35.9%	37.9%	26.6%	43.8%	33.9%	19.6%	27.3%	54.5%	-117.7%	1.5%	16.1%	32.1%	35.0%	21.3%	17.6%	13.0%	7.8%	7.2%	6.0%	5.5%	0.0%	0.0%
Income Tax Expense	48M	52M	51M	53M	48M	36M	29M	29M	28M	46M	42M	34M	3M	34M	22M	6M	14M	53M	-23M	0M	13M	23M	20M	12M	10M	8M	6M	4M	1M	0M	0M	0M
Net Income	216M	198M	207M	200M	178M	136M	109M	110M	108M	84M	77M	69M	48M	75M	47M	17M	32M	100M	-150M	7M	32M	49M	41M	27M	23M	16M	10M	7M	6M	5M	1M	-1M
Net Income Margin	13.4%	12.6%	12.8%	14.1%	23.6%	30.4%	20.9%	16.4%	19.4%	20.2%	23.3%	24.1%	17.5%	25.1%	17.4%	7.3%	13.1%	35.7%	-102.2%	2.3%	11.6%	21.8%	23.6%	14.7%	12.3%	8.3%	5.0%	4.7%	5.2%	5.4%	2.0%	-1.6%
Depreciation & Amortization	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	79M	131M	127M	69M	35M	36M	49M	82M	128M	92M	72M	50M	14M	15M
EBITDA	264M	250M	258M	253M	226M	173M	137M	139M	136M	131M	119M	108M	73M	131M	91M	45M	66M	152M	-94M	136M	172M	141M	96M	75M	81M	107M	144M	103M	78M	55M	14M	15M
EBITDA Margin	16.3%	15.9%	15.9%	17.9%	29.9%	38.5%	26.4%	20.8%	24.5%	31.3%	35.9%	37.9%	26.6%	43.8%	33.9%	19.6%	27.3%	54.5%	-63.8%	47.6%	62.2%	62.4%	54.9%	40.5%	43.8%	54.7%	69.5%	69.5%	71.9%	63.9%	35.6%	38.5%
NOPAT	216M	198M	207M	200M	178M	136M	109M	110M	108M	84M	77M	74M	70M	98M	69M	39M	53M	100M	-137M	4M	32M	49M	41M	27M	23M	17M	10M	7M	6M	5M	0M	0M
NOPAT Margin	13.4%	12.6%	12.8%	14.1%	23.6%	30.4%	20.9%	16.4%	19.4%	20.2%	23.3%	25.9%	25.6%	32.5%	25.7%	17.1%	21.6%	35.7%	-93.0%	1.6%	11.6%	21.8%	23.6%	14.7%	12.3%	8.7%	5.0%	4.7%	5.2%	5.4%	0.0%	0.0%
Owner's Earnings	216M	193M	202M	200M	178M	136M	109M	110M	108M	84M	77M	69M	48M	75M	47M	17M	32M	100M	-71M	138M	159M	118M	76M	63M	71M	98M	138M	99M	78M	54M	15M	14M
Owner's Earnings Margin	13.4%	12.3%	12.4%	14.1%	23.6%	30.4%	20.9%	16.4%	19.4%	20.2%	23.3%	24.1%	17.5%	25.1%	17.4%	7.3%	13.1%	35.7%	-48.2%	48.4%	57.6%	52.2%	43.6%	33.8%	38.5%	50.0%	66.7%	67.0%	71.2%	63.7%	37.6%	36.9%
EPS (Basic)	17.66	15.70	16.59	15.96	13.99	10.36	8.31	8.76	8.91	6.73	6.12	4.33	3.50	6.64	4.19	1.33	2.16	8.12	-15.40	0.43	2.74	4.14	3.24	2.13	-1.98	1.44	0.94	0.64	0.53	0.48	0.14	-0.09
EPS (Diluted)	19.69	18.09	18.88	18.29	16.37	12.55	10.07	10.16	10.06	7.82	7.20	6.08	4.24	6.72	4.24	1.54	3.01	9.73	-15.03	0.63	2.88	4.28	3.38	2.27	1.89	1.38	0.92	0.62	0.41	0.37	0.09	-0.09
Shares (Basic)	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	10M	11M	11M	11M	10M	10M	10M	10M	10M	10M	11M	11M	12M	12M	12M	11M	11M	11M	14M	13M	8M	7M
Shares (Diluted)	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	10M	10M	11M	11M	11M	12M	12M	12M	12M	11M	11M	14M	13M	8M	7M

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	884.44M	1,017.49M	1,007.82M	883.60M	861.00M	908.79M	1,033.94M	604.38M	425.26M	302.02M	265.23M	1,210.08M	1,363.39M	749.31M	785.56M	817.05M	729.92M	654.79M	278.41M	101.45M	877.71M	458.85M	430.50M	623.67M	723.80M	437.83M	537.87M	336.30M	540.60M	177.60M	68.90M	8.30M
Short-Term Investments	1,631.71M	1,597.80M	11,467.56M	10,451.41M	12,186.79M	10,164.95M	10,801.39M	10,102.87M	8,192.35M	7,687.32M	7,369.54M	8,815.97M	7,329.00M	0.00M	0.00M	2,184.49M	1,763.33M	1,131.90M	1,072.10M	0.00M	0.00M	1,621.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	2,516.15M	2,615.29M	12,475.38M	11,335.01M	13,047.79M	11,073.74M	11,835.33M	10,707.25M	8,617.61M	7,989.34M	7,634.77M	10,026.06M	8,692.39M	749.31M	785.56M	3,001.54M	2,493.25M	1,786.69M	1,350.51M	101.45M	877.71M	2,080.79M	430.50M	623.67M	723.80M	437.83M	537.87M	336.30M	540.60M	177.60M	68.90M	8.30M
Net Receivables	335.56M	363.09M	361.09M	336.96M	276.21M	211.14M	223.54M	237.64M	220.45M	195.17M	161.65M	152.89M	146.34M	151.11M	145.20M	141.72M	125.05M	122.19M	134.17M	149.74M	114.29M	89.68M	78.00M	75.31M	71.21M	62.26M	61.18M	47.30M	26.60M	21.40M	18.00M	21.10M
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	2,153.11M	0.00M	0.00M	0.00M	-259.37M	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	2,851.71M	2,978.39M	12,836.47M	11,671.97M	13,324.00M	11,284.88M	12,058.88M	10,944.89M	8,838.05M	8,184.51M	7,796.42M	10,178.95M	8,838.73M	900.42M	930.77M	5,296.37M	2,618.30M	1,908.88M	1,484.68M	-8.18M	992.00M	2,170.47M	508.51M	698.98M	795.01M	500.09M	599.05M	383.60M	567.20M	199.00M	86.90M	29.40M
Property, Plant & Equipment	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-13.06M	-15.71M	-12.29M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.61M	0.59M	2.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.10M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	13.06M	15.71M	12.29M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	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	30,377.93M	29,879.22M	18,340.94M	17,704.64M	13,722.57M	13,770.53M	12,247.06M	10,716.60M	12,510.17M	11,989.99M	10,548.38M	0.00M	0.00M	9,187.69M	8,856.67M	5,988.04M	5,988.04M	4,530.89M	3,687.10M	2,047.86M	3,936.74M	3,752.43M	3,315.86M	3,556.54M	3,402.38M	2,900.14M	2,516.75M	2,153.40M	1,363.90M	1,099.00M	515.30M	482.80M
Tax Assets	3.23M	3.71M	1.54M	8.47M	18.00M	15.87M	18.32M	16.51M	6.37M	2.05M	12.29M	42.92M	33.39M	44.05M	3.12M	0.00M	14.53M	24.15M	87.79M	30.24M	6.89M	2.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	146.69M	134.59M	145.79M	139.31M	4.61M	4.40M	6.70M	8.91M	3,309.57M	3,082.50M	2,141.49M	1,279.68M	1,682.68M	789.46M	373.80M	2,783.60M	-5,988.04M	-4,530.89M	-3,687.71M	-1,400.86M	-3,163.42M	-2,952.92M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-2,403.59M	6,881.84M	4,260.80M	3,595.95M	2,129.62M	2,164.62M	2,189.92M	0.00M	0.00M	0.00M	0.00M	45.10M	53.40M	172.30M	50.10M	0.60M	0.20M
Total Non-Current Assets	30,527.85M	30,017.52M	18,488.27M	17,852.42M	13,745.18M	13,790.80M	12,272.08M	10,742.03M	15,826.11M	15,074.54M	12,702.16M	1,322.60M	1,716.08M	10,021.19M	9,233.59M	6,368.04M	6,896.37M	4,284.95M	3,683.74M	2,807.45M	2,946.93M	2,991.83M	3,315.86M	3,556.54M	3,402.38M	2,900.14M	2,561.85M	2,206.80M	1,536.20M	1,149.10M	515.90M	483.10M
Total Assets	33,379.56M	32,995.91M	31,324.74M	29,524.38M	27,069.18M	25,075.68M	24,330.96M	21,686.91M	24,664.16M	23,259.05M	20,498.58M	11,501.55M	10,554.80M	10,921.61M	10,164.36M	11,664.40M	9,514.67M	6,193.83M	5,168.42M	2,799.27M	3,938.93M	5,162.31M	3,824.37M	4,255.52M	4,197.39M	3,400.23M	3,160.90M	2,590.40M	2,103.40M	1,348.10M	602.80M	512.50M
Accounts Payable	327.49M	347.52M	407.64M	258.50M	186.75M	130.73M	121.62M	129.04M	108.63M	89.50M	59.12M	76.71M	129.61M	63.76M	65.49M	239.56M	57.13M	39.56M	40.47M	50.00M	36.13M	29.25M	25.51M	26.34M	29.76M	26.36M	20.85M	18.50M	9.10M	9.80M	7.20M	8.40M
Short-Term Debt	10,146.58M	10,283.71M	10,437.62M	8,087.17M	8,034.18M	6,986.80M	0.00M	10,019.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	6,567.37M	6,087.88M	4,509.42M	3,662.90M	3,757.10M	3,829.70M	3,298.10M	2,587.70M	2,620.17M	2,799.38M	2,895.75M	2,233.27M	2,201.69M	1,722.10M	1,473.70M	856.00M	261.10M	207.40M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-7,865.68M	-8,179.32M	-8,499.24M	-9,188.17M	-7,483.56M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	94.70M	111.05M	37.34M	0.00M	6.70M	3.30M	1.40M	0.00M	0.50M
Total Current Liabilities	10,474.07M	10,631.22M	10,845.26M	8,345.67M	8,220.93M	7,117.53M	121.62M	10,148.12M	-7,757.05M	-8,089.83M	-8,440.12M	-9,111.46M	-7,353.95M	63.76M	6,632.86M	6,327.44M	4,566.55M	3,702.46M	3,797.57M	3,879.70M	3,334.22M	2,616.95M	2,645.68M	2,920.43M	3,036.55M	2,296.96M	2,222.54M	1,747.30M	1,486.10M	867.20M	268.30M	216.30M
Long-Term Debt	21,139.25M	20,717.59M	18,863.18M	19,600.44M	17,616.89M	16,708.35M	23,172.70M	20,715.15M	10,015.60M	8,837.74M	6,365.68M	5,680.57M	5,895.40M	5,262.93M	5,202.36M	4,806.47M	4,258.07M	1,957.24M	888.00M	4,626.48M	1,296.69M	1,406.53M	862.20M	1,136.11M	985.32M	968.46M	767.49M	750.30M	365.50M	402.80M	287.10M	284.10M
Capital Lease Obligations	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	204.76M	204.76M	204.76M	0.00M	0.00M	0.00M	0.00M	30.31M	30.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.25M	0.00M	0.00M	0.00M	0.00M	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	79.16M	102.79M	127.27M	166.41M	223.34M	81.43M	68.70M	-9,953.18M	60.48M	67.07M	97.45M	117.89M	127.03M	121.84M	194.02M	0.00M	124.00M	259.48M	330.91M	-3,752.16M	74.27M	71.94M	102.08M	-0.11M	-0.32M	54.68M	-0.49M	-0.30M	-0.50M	4.40M	2.40M	0.90M
Total Non-Current Liabilities	21,218.41M	20,820.38M	18,990.45M	19,766.85M	17,840.23M	16,789.78M	23,241.41M	10,761.98M	10,280.85M	9,109.56M	6,667.89M	5,798.46M	6,022.43M	5,384.77M	5,396.38M	4,837.02M	4,412.37M	2,216.72M	1,218.90M	874.32M	1,370.96M	1,478.46M	964.28M	1,136.00M	985.00M	1,023.15M	767.00M	750.00M	365.00M	407.20M	289.50M	285.00M
Total Liabilities	31,692.48M	31,451.60M	29,835.72M	28,112.52M	26,061.15M	23,907.31M	23,363.02M	20,910.10M	2,523.80M	1,019.74M	-1,772.23M	-3,313.00M	-1,331.52M	5,448.53M	12,029.24M	11,164.46M	8,978.92M	5,919.18M	5,016.47M	4,754.02M	4,705.18M	4,095.42M	3,609.97M	4,056.43M	4,021.55M	3,320.11M	2,989.54M	2,497.30M	1,851.10M	1,274.40M	557.80M	501.30M
Preferred Stock	508.04M	411.15M	411.15M	484.53M	484.53M	484.53M	363.20M	228.37M	204.76M	204.76M	204.76M	204.76M	204.76M	58.33M	57.58M	57.58M	57.58M	57.58M	9.20M	35.00M	35.00M	35.00M	35.00M	35.00M	35.00M	0.00M	0.00M	1.70M	0.00M	0.00M	0.00M	0.00M
Common Stock	10.93M	10.93M	10.89M	10.84M	10.80M	10.77M	10.74M	10.71M	10.67M	10.62M	10.54M	10.69M	10.94M	10.89M	10.70M	10.28M	10.28M	10.14M	10.13M	9.90M	10.61M	11.09M	11.82M	12.05M	11.64M	11.56M	11.15M	10.90M	10.80M	0.00M	0.00M	0.00M
Retained Earnings	1,035.94M	1,003.64M	943.24M	823.72M	698.53M	588.56M	509.56M	457.05M	393.35M	322.70M	275.71M	231.23M	201.01M	168.88M	102.24M	50.84M	50.84M	28.13M	-52.14M	94.36M	112.58M	101.63M	103.14M	79.84M	54.81M	33.52M	17.24M	6.80M	-0.10M	-5.90M	-9.30M	-10.10M
Accumulated OCI	-5.43M	-17.67M	-12.15M	-40.15M	-50.84M	3.85M	-13.92M	-16.16M	24.96M	51.09M	33.76M	-11.02M	15.53M	-16.20M	73.97M	18.28M	18.28M	3.25M	-47.41M	-2.79M	4.96M	15.25M	-0.88M	-2.30M	-0.41M	8.40M	31.50M	-1.70M	0.20M	1.20M	0.30M	0.10M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.22M	0.20M	236.03M	241.85M	241.85M	241.85M	241.85M	0.00M	0.00M	0.00M	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	1,549.48M	1,408.06M	1,353.13M	1,278.94M	1,143.02M	1,087.71M	869.58M	679.97M	633.74M	589.17M	524.77M	435.66M	432.24M	221.89M	244.49M	136.97M	136.97M	99.10M	-80.22M	136.46M	163.14M	162.97M	149.08M	124.60M	101.04M	53.48M	59.89M	17.70M	10.90M	-4.70M	-9.00M	-10.00M
Total Equity	1,549.48M	1,408.06M	1,353.13M	1,278.94M	1,143.02M	1,087.71M	869.58M	679.97M	633.74M	589.17M	524.99M	435.86M	668.27M	463.75M	486.35M	378.83M	378.83M	99.10M	-80.22M	136.46M	163.14M	162.97M	149.08M	124.60M	101.04M	53.48M	59.89M	17.70M	10.90M	-4.70M	-9.00M	-10.00M
Total Liabilities & Equity	33,241.96M	32,859.66M	31,188.85M	29,391.46M	27,204.17M	24,995.02M	24,232.60M	21,590.07M	3,157.53M	1,608.90M	-1,247.24M	-2,877.14M	-663.25M	5,912.28M	12,515.58M	11,543.29M	9,357.75M	6,018.28M	4,936.25M	4,890.48M	4,868.32M	4,258.39M	3,759.04M	4,181.03M	4,122.59M	3,373.59M	3,049.43M	2,515.00M	1,862.00M	1,269.70M	548.80M	491.30M
Tangible Assets	33,379.56M	32,995.91M	31,324.74M	29,524.38M	27,069.18M	25,075.68M	24,330.96M	21,686.91M	24,651.10M	23,243.34M	20,486.29M	11,501.55M	10,554.80M	10,921.61M	10,164.36M	11,664.40M	9,514.67M	6,193.83M	5,168.42M	2,799.27M	3,938.93M	5,162.31M	3,824.37M	4,255.52M	4,197.39M	3,400.23M	3,160.90M	2,590.40M	2,103.40M	1,348.10M	602.80M	512.50M
Tangible Equity	1,549.48M	1,408.06M	1,353.13M	1,278.94M	1,143.02M	1,087.71M	869.58M	679.97M	620.67M	573.46M	512.70M	435.86M	668.27M	463.75M	486.35M	378.83M	378.83M	99.10M	-80.22M	136.46M	163.14M	162.97M	149.08M	124.60M	101.04M	53.48M	59.89M	17.70M	10.90M	-4.70M	-9.00M	-10.00M
Tangible Book Value	1,549.48M	1,408.06M	1,353.13M	1,278.94M	1,143.02M	1,087.71M	869.58M	679.97M	620.67M	573.46M	512.70M	435.86M	668.27M	463.75M	486.35M	378.83M	378.83M	99.10M	-80.22M	136.46M	163.14M	162.97M	149.08M	124.60M	101.04M	53.48M	59.89M	17.70M	10.90M	-4.70M	-9.00M	-10.00M
Total Investments	32,009.64M	31,477.03M	29,808.50M	28,156.05M	25,909.36M	23,935.48M	23,048.46M	20,819.47M	20,702.52M	19,677.31M	17,917.92M	19,615.76M	17,100.07M	9,187.69M	8,856.67M	8,172.53M	7,751.37M	4,335.55M	3,385.46M	2,047.86M	3,936.74M	3,752.43M	3,315.86M	3,556.54M	3,402.38M	2,900.14M	2,516.75M	2,153.40M	1,363.90M	1,099.00M	515.30M	482.80M
Net Debt	30,401.38M	29,983.80M	28,292.99M	26,804.02M	24,790.06M	22,786.37M	22,138.76M	30,129.85M	9,590.35M	8,535.71M	6,100.45M	4,470.49M	4,532.01M	4,513.62M	10,984.16M	10,077.30M	8,037.57M	4,965.34M	4,366.69M	8,354.73M	3,717.07M	3,535.38M	3,051.87M	3,311.82M	3,157.26M	2,763.90M	2,431.31M	2,136.10M	1,298.60M	1,081.20M	479.30M	483.20M

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	-7,622.4M	-7,652.8M	1,991.2M	3,326.3M	5,367.0M	4,212.7M	11,961.8M	819.2M	2,868.2M	2,717.7M	2,903.9M	4,098.3M	3,407.1M	3,286.8M	-3,244.2M	-3,653.1M	-2,401.5M	-1,872.0M	-2,394.5M	-1,062.0M	-552.1M	-468.7M	-2,137.2M	-2,251.0M	-2,259.0M	-1,814.9M	-1,662.0M	-1,369.4M	-921.8M	-671.0M	-179.5M	-187.6M
Total Capital	32,972.9M	32,545.6M	30,789.8M	29,099.5M	26,923.0M	24,908.9M	24,165.2M	31,533.5M	18,525.2M	17,635.7M	15,449.2M	15,345.6M	13,795.2M	12,934.3M	12,120.8M	11,158.8M	9,034.8M	5,816.3M	4,660.4M	4,797.9M	4,843.3M	4,239.4M	3,719.2M	4,148.7M	4,064.6M	3,336.2M	3,101.8M	2,559.5M	1,920.1M	1,333.9M	593.5M	503.2M
Capital Employed	22,905.5M	22,364.7M	20,479.5M	21,178.7M	19,112.2M	18,003.5M	24,233.9M	11,561.3M	18,694.3M	17,792.3M	15,606.0M	15,540.4M	14,287.8M	13,308.0M	5,989.3M	2,714.9M	4,494.9M	2,412.9M	1,289.2M	1,097.9M	1,619.5M	1,723.7M	1,201.1M	1,349.7M	1,168.9M	1,102.2M	899.9M	837.4M	446.3M	478.1M	336.4M	295.5M
Invested Capital	32,088.5M	31,528.1M	29,782.0M	28,215.9M	26,062.0M	24,000.1M	23,131.2M	30,929.1M	18,100.0M	17,333.7M	15,184.0M	14,135.5M	12,431.8M	12,185.0M	11,335.3M	10,341.8M	8,304.9M	5,161.5M	4,382.0M	4,696.5M	3,965.6M	3,780.6M	3,288.7M	3,525.1M	3,340.8M	2,898.3M	2,564.0M	2,223.2M	1,379.5M	1,156.3M	524.6M	494.9M

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	216.01M	198.30M	207.19M	200.00M	178.14M	132.26M	108.65M	109.55M	108.08M	84.32M	77.30M	73.84M	70.28M	97.52M	68.96M	38.85M	52.70M	99.60M	-150.36M	6.66M	32.01M	29.51M	30.47M	27.27M	22.75M	16.28M	10.44M	6.90M	5.70M	4.60M	0.40M	-0.60M
Depreciation & Amortization	-16.58M	-271.11M	0.00M	-17.03M	0.72M	219.17M	-219.19M	-176.48M	-1.10M	1.74M	1.83M	2.89M	18.46M	26.22M	19.64M	11.85M	11.92M	4.08M	79.40M	128.75M	127.48M	69.63M	34.46M	35.61M	48.71M	81.71M	127.92M	92.20M	71.80M	49.90M	14.30M	14.50M
Deferred Income Tax	-2.70M	-3.38M	0.00M	6.69M	12.41M	-1.96M	-2.41M	0.79M	2.63M	3.22M	4.10M	3.99M	-6.98M	6.67M	-1.98M	-18.94M	-0.52M	35.62M	-40.38M	-17.09M	2.17M	1.82M	2.37M	-0.22M	-2.96M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	8.19M	8.63M	8.09M	6.80M	4.62M	4.31M	4.13M	2.26M	2.52M	2.70M	3.34M	3.27M	2.86M	2.97M	2.43M	2.93M	2.77M	2.69M	2.76M	3.68M	2.44M	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	40.12M	144.79M	144.57M	43.62M	-130.50M	39.09M	-0.49M	-10.25M	-11.90M	-0.15M	32.05M	1.00M	-43.81M	48.14M	-50.72M	-29.41M	15.70M	78.43M	-106.27M	-1.22M	5.92M	-27.91M	-11.87M	-6.04M	-4.87M	6.49M	-8.82M	-17.20M	-7.30M	-38.60M	-10.50M	-4.70M
Accounts Receivable	-59.24M	-29.30M	-31.79M	-65.64M	-62.73M	4.41M	11.22M	-19.14M	-26.05M	-32.37M	-8.60M	-6.55M	4.78M	-5.95M	-3.47M	0.00M	0.00M	0.00M	0.00M	0.00M	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	5,050.77M	5,535.18M	5,731.63M	5,216.25M	4,396.33M	4,477.51M	3,642.21M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-19.53M	51.22M	13.27M	63.95M	58.88M	0.00M	-14.22M	10.22M	21.34M	25.70M	2.08M	-0.73M	-5.42M	1.99M	-9.08M	3.72M	17.57M	0.00M	0.00M	0.00M	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	118.89M	122.87M	163.08M	45.31M	-126.65M	34.68M	2.52M	-1.32M	-5,057.95M	-5,528.66M	-5,693.05M	-5,207.97M	-4,439.50M	-4,425.41M	-3,680.39M	-33.14M	-1.87M	78.43M	-106.27M	-1.22M	5.92M	-27.91M	-11.87M	-6.04M	-4.87M	6.49M	-8.82M	-17.20M	-7.30M	-38.60M	-10.50M	-4.70M
Other Non-Cash Items	99.15M	1.05M	252.80M	135.71M	743.87M	43.54M	14.76M	54.43M	99.81M	83.18M	89.97M	99.37M	114.23M	132.48M	-5.02M	21.55M	-566.77M	-189.31M	195.82M	-13.10M	-53.93M	-80.10M	33.08M	11.99M	-20.56M	-15.19M	4.74M	3.40M	1.80M	0.90M	0.40M	0.00M
Net Cash from Operating Activities	344.18M	78.27M	612.65M	375.80M	809.27M	436.41M	-94.55M	-19.70M	200.03M	175.01M	208.59M	184.36M	155.05M	313.99M	33.30M	26.82M	-484.20M	31.11M	-19.02M	107.68M	116.08M	-6.97M	87.62M	68.61M	43.08M	132.72M	134.28M	85.30M	72.00M	16.80M	4.60M	9.20M
Capital Expenditures (PPE)	0.00M	-5.27M	-5.27M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.13M	-0.16M	-0.07M	0.00M	0.00M	0.00M	-0.10M	0.00M	0.00M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.13M	0.16M	0.07M	0.00M	0.00M	0.00M	0.10M	0.00M	0.00M
Purchases of Investments	-4,067.98M	-4,063.85M	-4,035.34M	-6,030.14M	-7,750.23M	-6,387.04M	-4,927.36M	-4,857.48M	-4,692.22M	-3,938.22M	-4,333.40M	-3,584.48M	-3,100.93M	-3,338.48M	-3,357.41M	-3,904.40M	-3,086.84M	-2,373.83M	-1,943.71M	-4,501.55M	-4,224.80M	-2,453.32M	-824.45M	-1,258.16M	-379.73M	-854.32M	-719.85M	-1,489.70M	-900.40M	-638.50M	-51.60M	-78.90M
Sales / Maturities of Investments	1,498.61M	5,044.62M	4,571.65M	4,875.22M	5,969.21M	6,138.43M	4,644.91M	3,949.89M	4,438.28M	2,919.39M	4,355.83M	2,876.90M	3,427.68M	2,992.74M	2,318.50M	1,368.85M	1,198.23M	1,775.01M	2,089.05M	3,798.05M	4,010.04M	1,933.18M	872.93M	1,082.98M	642.69M	790.02M	700.01M	1,050.20M	678.20M	68.40M	31.60M	33.50M
Other Investing Activities	-124.25M	-2,550.00M	-2,213.52M	-800.47M	-1,261.94M	-847.58M	-1,453.64M	-1,476.99M	-345.27M	-829.45M	-615.84M	-542.95M	-410.41M	-649.36M	-289.90M	530.74M	197.75M	1.36M	-58.28M	-2.37M	68.29M	132.96M	164.72M	-18.27M	-684.69M	-276.70M	-285.16M	-395.90M	-0.10M	-26.20M	-2.50M	-54.00M
Net Cash from Investing Activities	-2,693.62M	-1,574.50M	-1,682.47M	-1,955.38M	-3,042.96M	-1,096.20M	-1,736.09M	-2,384.59M	-599.21M	-1,848.28M	-593.41M	-1,250.53M	-83.66M	-995.09M	-1,328.81M	-2,004.81M	-1,690.86M	-597.46M	87.05M	-705.87M	-146.48M	-387.18M	213.20M	-193.45M	-421.74M	-379.19M	-305.01M	-835.40M	-222.30M	-596.30M	-22.50M	-99.40M
Net Debt Issuance	2,403.44M	1,720.03M	1,371.24M	1,684.89M	2,255.72M	475.80M	2,178.42M	2,607.38M	562.94M	1,735.12M	-446.51M	1,190.71M	437.98M	671.19M	1,288.25M	2,091.99M	2,184.22M	913.64M	-7.03M	-151.25M	471.17M	444.12M	-484.38M	20.41M	624.39M	137.83M	370.39M	544.70M	512.20M	665.80M	43.90M	25.30M
Long-Term Debt Issuance	2,403.44M	1,720.03M	1,371.24M	1,684.89M	2,255.72M	475.80M	2,178.42M	2,607.38M	555.19M	1,735.12M	-446.51M	1,190.71M	437.98M	671.19M	1,288.25M	929.30M	680.68M	748.86M	158.82M	205.45M	471.17M	444.12M	397.02M	20.41M	624.39M	137.83M	370.39M	544.70M	512.20M	665.80M	43.90M	25.30M
Short-Term Debt 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	1,394.69M	1,310.92M	1,503.54M	164.78M	-165.85M	-356.70M	0.00M	0.00M	-881.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	97.19M	-75.84M	-74.71M	0.23M	0.19M	121.44M	132.98M	21.70M	0.01M	0.24M	-13.39M	-252.63M	140.67M	2.67M	2.94M	0.02M	97.81M	48.42M	-20.90M	-21.09M	-16.56M	-15.69M	-4.86M	6.54M	36.64M	8.60M	1.93M	1.20M	1.10M	22.40M	34.50M	0.00M
Common Stock Issuance	97.19M	0.27M	0.29M	0.23M	0.19M	121.44M	193.22M	0.04M	0.01M	0.24M	0.55M	1.69M	0.24M	1.91M	2.94M	0.02M	0.17M	0.04M	5.73M	7.88M	5.38M	1.23M	1.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-60.24M	0.00M	0.00M	0.00M	-9.29M	-254.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.83M	-28.97M	-21.94M	-16.91M	-6.24M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	-76.11M	-75.00M	0.00M	0.00M	0.00M	0.00M	21.66M	0.00M	0.00M	-4.66M	-244.00M	140.43M	0.76M	0.00M	0.00M	97.64M	48.38M	-25.80M	0.00M	0.00M	0.00M	0.00M	0.00M	34.67M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-86.16M	-84.77M	-86.05M	-74.82M	-68.17M	-61.32M	-50.65M	-43.89M	-37.91M	-28.44M	-24.07M	-20.18M	-14.00M	-7.98M	-7.08M	-4.95M	-26.82M	-19.33M	-7.73M	-6.36M	-6.57M	-6.76M	-3.42M	-2.24M	-1.46M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Dividends Paid	-86.16M	-84.77M	-86.05M	-74.82M	-68.17M	-61.32M	-50.65M	-43.89M	-37.91M	-28.44M	-24.07M	-20.18M	-14.00M	-7.98M	-7.08M	-4.95M	-6.18M	-19.33M	-7.73M	-6.36M	-6.57M	-6.76M	-3.42M	-2.24M	-1.46M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
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	-20.64M	0.00M	0.00M	0.00M	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	-6.07M	-3.44M	-5.35M	-3.01M	-1.84M	-1.31M	-0.56M	-1.78M	-2.63M	3.13M	-76.07M	-5.02M	-21.97M	-18.36M	-20.07M	-21.94M	-25.67M	0.00M	144.60M	0.62M	1.22M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.10M	-0.10M	0.00M	0.10M	0.10M
Net Cash from Financing Activities	2,408.40M	1,555.98M	1,205.13M	1,607.29M	2,185.91M	534.63M	2,260.20M	2,583.41M	522.41M	1,710.06M	-560.03M	912.88M	542.68M	644.85M	1,264.03M	2,065.12M	2,250.19M	942.73M	108.94M	-178.09M	449.26M	422.50M	-493.98M	24.71M	664.63M	146.43M	372.32M	545.80M	513.20M	688.20M	78.50M	25.40M
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	0.00M	0.10M	0.00M	0.00M	0.00M
Net Change in Cash	58.97M	59.74M	135.30M	27.71M	-47.78M	-125.16M	429.56M	179.13M	123.23M	36.79M	-944.86M	-153.30M	614.07M	-36.25M	-31.48M	87.13M	75.13M	376.38M	176.97M	-776.27M	418.86M	28.35M	-193.17M	-100.13M	285.97M	-100.04M	201.59M	-204.30M	363.00M	108.70M	60.60M	-64.80M
Cash at Beginning of Period	3,944.53M	3,339.09M	888.71M	861.00M	908.79M	1,033.94M	604.38M	425.26M	302.02M	265.23M	1,210.08M	1,363.39M	749.31M	785.56M	817.05M	729.92M	654.79M	278.41M	101.45M	877.71M	458.85M	430.50M	623.67M	723.80M	437.83M	537.87M	336.28M	540.60M	177.60M	68.90M	8.30M	73.10M
Cash at End of Period	4,003.49M	3,398.83M	1,024.01M	888.71M	861.00M	908.79M	1,033.94M	604.38M	425.26M	302.02M	265.23M	1,210.08M	1,363.39M	749.31M	785.56M	817.05M	729.92M	654.79M	278.41M	101.45M	877.71M	458.85M	430.50M	623.67M	723.80M	437.83M	537.87M	336.30M	540.60M	177.60M	68.90M	8.30M
Operating Cash Flow	344.18M	78.27M	612.65M	375.80M	809.27M	436.41M	-94.55M	-19.70M	200.03M	175.01M	208.59M	184.36M	155.05M	313.99M	33.30M	26.82M	-484.20M	31.11M	-19.02M	107.68M	116.08M	-6.97M	87.62M	68.61M	43.08M	89.28M	134.28M	85.30M	72.00M	16.80M	4.60M	9.20M
Capital Expenditure	0.00M	-5.27M	-5.27M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.13M	-0.16M	-0.07M	0.00M	0.00M	0.00M	-0.10M	0.00M	0.00M
Free Cash Flow	344.18M	72.99M	607.37M	375.80M	809.27M	436.41M	-94.55M	-19.70M	200.03M	175.01M	208.59M	184.36M	155.05M	313.99M	33.30M	26.82M	-484.20M	31.11M	-19.02M	107.68M	116.08M	-6.97M	87.62M	68.48M	42.92M	89.21M	134.28M	85.30M	72.00M	16.70M	4.60M	9.20M

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	267.64M	253.22M	261.47M	256.32M	229.77M	175.65M	140.36M	141.50M	138.60M	133.21M	121.86M	110.58M	75.60M	132.60M	93.53M	48.65M	73.33M	158.85M	17.89M	153.70M	174.61M	143.20M	98.17M	84.25M	94.90M	118.15M	144.69M	103.29M	82.50M	57.70M	16.80M	15.20M
(-) Tax Adjustment	48.35M	52.47M	51.57M	53.77M	48.40M	37.04M	29.40M	29.70M	28.47M	46.62M	42.65M	35.03M	2.92M	34.10M	22.74M	6.32M	15.21M	54.84M	2.36M	0.00M	49.57M	45.69M	31.79M	26.20M	28.59M	39.12M	50.64M	35.79M	10.15M	1.23M	0.00M	0.00M
(-) Change In Working Capital	40.12M	144.79M	144.57M	43.62M	-130.50M	39.09M	-0.49M	-10.25M	-11.90M	-0.15M	32.05M	1.00M	-43.81M	48.14M	-50.72M	-29.41M	15.70M	78.43M	-106.27M	-1.22M	5.92M	-27.91M	-11.87M	-6.04M	-4.87M	6.49M	-8.82M	-17.20M	-7.30M	-38.60M	-10.50M	-4.70M
(-) Capital Expenditure	0.00M	-5.27M	-5.27M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.13M	-0.16M	-0.07M	0.00M	0.00M	0.00M	-0.10M	0.00M	0.00M
Unlevered Free Cash Flow	179.17M	50.69M	60.06M	158.93M	311.87M	99.51M	111.45M	122.05M	122.02M	86.74M	47.16M	74.55M	116.48M	50.36M	121.51M	71.74M	42.41M	25.58M	121.80M	154.92M	119.13M	125.41M	78.25M	63.96M	71.02M	72.46M	102.87M	84.70M	79.65M	94.97M	27.30M	19.90M
(-) Net Interest Income After Taxes	311.00M	271.67M	284.07M	258.83M	213.87M	175.14M	150.67M	136.79M	138.60M	102.47M	91.18M	85.95M	67.63M	81.31M	92.32M	105.55M	76.12M	56.25M	77.01M	44.45M	27.42M	34.48M	45.54M	25.67M	27.32M	19.58M	11.50M	9.77M	9.30M	7.05M	2.70M	1.70M
Net Debt Issuance	2,403.44M	1,720.03M	1,371.24M	1,684.89M	2,255.72M	475.80M	2,178.42M	2,607.38M	562.94M	1,735.12M	-446.51M	1,190.71M	437.98M	671.19M	1,288.25M	2,091.99M	2,184.22M	913.64M	-7.03M	-151.25M	471.17M	444.12M	-484.38M	20.41M	624.39M	137.83M	370.39M	544.70M	512.20M	665.80M	43.90M	25.30M
Levered Free Cash Flow	2,271.60M	1,499.05M	1,147.24M	1,584.98M	2,353.71M	400.18M	2,139.20M	2,592.63M	546.36M	1,719.39M	-490.52M	1,179.30M	486.83M	640.24M	1,317.44M	2,058.18M	2,150.52M	882.97M	37.76M	-40.79M	562.87M	535.05M	-451.67M	58.70M	668.08M	190.72M	461.76M	619.63M	582.55M	753.73M	68.50M	43.50M