Equifax Inc. (EFX)

Industry: Consulting Services Sector: Industrials Currency Used: US Live Price: $219.57

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	256.53	259.37	253.15	261.47	217.15	196.42	241.71	160.27	134.04	116.71	124.52	123.88	99.66	74.05	61.27	48.02	35.76	32.67	27.65	32.27	38.86	37.22	34.84	26.26	22.60	25.05	22.82	17.86	20.30	23.79	21.88	17.20
Market Capitalization	31,578.84M	32,161.88M	31,322.17M	32,363.99M	26,690.37M	24,056.59M	29,461.56M	19,471.87M	16,205.98M	14,053.12M	14,958.00M	14,782.30M	11,833.42M	8,964.11M	7,429.68M	5,756.95M	4,356.83M	4,074.63M	3,491.68M	4,136.20M	5,126.79M	4,728.50M	4,515.50M	3,447.16M	3,038.54M	3,412.62M	3,115.94M	2,401.13M	2,783.24M	3,321.08M	3,125.71M	2,496.03M
(-) Cash & Equivalents	189.00M	189.00M	191.07M	255.25M	256.50M	237.85M	868.55M	1,234.38M	209.45M	263.43M	294.73M	108.60M	95.25M	109.10M	145.08M	182.45M	106.33M	95.55M	76.10M	71.20M	125.60M	57.03M	44.15M	34.18M	32.35M	29.60M	36.35M	108.38M	135.88M	98.58M	55.18M	51.48M
(+) Total Debt	4,813.10M	4,898.00M	4,891.73M	5,404.93M	5,796.93M	5,792.15M	4,756.55M	4,159.95M	3,045.38M	2,632.13M	2,728.08M	2,882.65M	1,383.03M	1,567.53M	1,503.53M	1,162.53M	1,011.43M	1,055.43M	1,156.80M	1,313.75M	1,114.53M	525.78M	635.68M	721.53M	886.13M	844.28M	913.71M	1,123.25M	990.60M	704.28M	361.18M	345.05M
Enterprise Value	36,202.94M	36,870.88M	36,022.84M	37,513.67M	32,230.80M	29,610.89M	33,349.56M	22,397.45M	19,041.91M	16,421.82M	17,391.35M	17,556.35M	13,121.19M	10,422.53M	8,788.13M	6,737.03M	5,261.93M	5,034.51M	4,572.38M	5,378.75M	6,115.72M	5,197.25M	5,107.03M	4,134.51M	3,892.31M	4,227.29M	3,993.31M	3,416.00M	3,637.97M	3,926.78M	3,431.71M	2,789.61M

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	5,943M	5,588M	5,681M	5,265M	5,122M	4,924M	4,128M	3,508M	3,412M	3,362M	3,145M	2,664M	2,436M	2,304M	2,073M	1,893M	1,860M	1,716M	1,936M	1,843M	1,546M	1,443M	1,273M	1,211M	1,095M	1,139M	1,189M	1,773M	1,621M	1,366M	1,223M	1,105M
Cost of Revenue	2,600M	2,485M	2,519M	2,335M	2,177M	1,981M	1,737M	1,522M	1,440M	1,211M	1,113M	887M	845M	787M	760M	704M	760M	719M	792M	752M	626M	594M	534M	500M	416M	451M	513M	907M	840M	702M	630M	588M
Gross Profit	3,344M	3,103M	3,162M	2,930M	2,945M	2,943M	2,390M	1,986M	1,972M	2,152M	2,032M	1,776M	1,592M	1,517M	1,314M	1,189M	1,100M	997M	1,144M	1,091M	920M	849M	739M	711M	679M	688M	676M	866M	781M	664M	593M	518M
Gross Profit Margin	56.3%	55.5%	55.7%	55.7%	57.5%	59.8%	57.9%	56.6%	57.8%	64.0%	64.6%	66.7%	65.3%	65.8%	63.4%	62.8%	59.1%	58.1%	59.1%	59.2%	59.5%	58.8%	58.1%	58.7%	62.0%	60.4%	56.8%	48.8%	48.2%	48.6%	48.5%	46.8%
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	0M	0M	0M	0M
SG&A Expenses	1,553M	1,472M	1,466M	1,394M	1,337M	1,362M	1,306M	1,990M	1,213M	1,032M	941M	884M	752M	716M	674M	560M	507M	470M	511M	477M	401M	345M	284M	272M	247M	268M	261M	326M	312M	263M	259M	232M
Operating Expenses	2,245M	2,104M	2,120M	1,997M	1,889M	1,805M	1,714M	2,321M	1,524M	1,320M	1,206M	1,082M	954M	905M	834M	721M	670M	615M	667M	605M	484M	427M	363M	397M	326M	434M	367M	451M	415M	340M	326M	296M
Operating Income (EBIT)	1,099M	999M	1,042M	934M	1,056M	1,138M	677M	-335M	448M	832M	825M	694M	638M	611M	480M	469M	430M	382M	477M	486M	436M	422M	376M	314M	353M	254M	309M	415M	366M	324M	267M	222M
Operating Income Margin	18.5%	17.9%	18.3%	17.7%	20.6%	23.1%	16.4%	-9.6%	13.1%	24.7%	26.2%	26.1%	26.2%	26.5%	23.2%	24.8%	23.1%	22.2%	24.7%	26.4%	28.2%	29.2%	29.5%	26.0%	32.2%	22.3%	26.0%	23.4%	22.6%	23.7%	21.8%	20.1%
Interest Income	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
Interest Expense	214M	234M	229M	241M	183M	146M	142M	112M	104M	93M	92M	64M	69M	70M	55M	55M	56M	57M	71M	59M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-214M	-234M	-229M	-241M	-183M	-146M	-142M	-112M	-104M	-93M	-92M	-64M	-69M	-70M	-55M	-55M	-56M	-57M	-71M	-59M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	3M	2M	-3M	26M	57M	-43M	150M	33M	26M	8M	-5M	7M	5M	-11M	7M	-8M	1M	6M	6M	-3M	-20M	-31M	9M	-29M	-36M	-51M	-59M	-49M	-39M	-1M	-4M	1M
EBT Excluding Unusual Items	885M	766M	813M	692M	873M	992M	535M	-447M	345M	739M	733M	630M	570M	541M	425M	414M	374M	325M	406M	428M	436M	422M	376M	314M	353M	254M	309M	415M	366M	324M	267M	222M
Pre-Tax Income	888M	768M	811M	718M	930M	949M	685M	-414M	370M	747M	728M	637M	574M	530M	431M	406M	375M	331M	412M	425M	416M	391M	385M	285M	316M	203M	249M	366M	327M	323M	263M	223M
Pre-Tax Margin	14.9%	13.7%	14.3%	13.6%	18.2%	19.3%	16.6%	-11.8%	10.9%	22.2%	23.2%	23.9%	23.6%	23.0%	20.8%	21.4%	20.2%	19.3%	21.3%	23.0%	26.9%	27.1%	30.3%	23.6%	28.9%	17.8%	21.0%	20.6%	20.2%	23.7%	21.5%	20.2%
Income Tax Expense	226M	199M	203M	166M	230M	201M	159M	-36M	53M	149M	233M	202M	200M	189M	156M	167M	132M	107M	133M	152M	141M	144M	148M	105M	124M	85M	108M	150M	134M	138M	110M	90M
Net Income	659M	563M	604M	545M	696M	744M	520M	-384M	311M	587M	489M	429M	367M	352M	272M	233M	267M	234M	273M	273M	275M	247M	235M	165M	178M	123M	228M	216M	193M	184M	178M	148M
Net Income Margin	11.1%	10.1%	10.6%	10.4%	13.6%	15.1%	12.6%	-11.0%	9.1%	17.5%	15.5%	16.1%	15.1%	15.3%	13.1%	12.3%	14.3%	13.6%	14.1%	14.8%	17.8%	17.1%	18.4%	13.6%	16.3%	10.8%	19.2%	12.2%	11.9%	13.4%	14.5%	13.4%
Depreciation & Amortization	713M	666M	681M	620M	569M	490M	399M	337M	316M	291M	269M	200M	204M	190M	163M	165M	168M	159M	155M	128M	83M	82M	79M	94M	80M	106M	106M	125M	104M	77M	68M	64M
EBITDA	1,812M	1,665M	1,723M	1,553M	1,625M	1,628M	1,076M	2M	764M	1,123M	1,094M	894M	842M	802M	643M	634M	598M	541M	633M	614M	519M	504M	455M	408M	432M	360M	415M	540M	470M	401M	334M	286M
EBITDA Margin	30.5%	29.8%	30.3%	29.5%	31.7%	33.1%	26.1%	0.1%	22.4%	33.4%	34.8%	33.6%	34.6%	34.8%	31.0%	33.5%	32.1%	31.5%	32.7%	33.3%	33.6%	34.9%	35.7%	33.7%	39.5%	31.6%	34.9%	30.5%	29.0%	29.4%	27.3%	25.8%
NOPAT	819M	740M	781M	717M	795M	897M	520M	-265M	383M	666M	561M	474M	416M	394M	306M	276M	279M	259M	323M	312M	288M	266M	232M	199M	214M	147M	175M	245M	216M	186M	156M	132M
NOPAT Margin	13.8%	13.2%	13.7%	13.6%	15.5%	18.2%	12.6%	-7.6%	11.2%	19.8%	17.8%	17.8%	17.1%	17.1%	14.8%	14.6%	15.0%	15.1%	16.7%	16.9%	18.6%	18.4%	18.2%	16.4%	19.5%	12.9%	14.7%	13.8%	13.3%	13.6%	12.7%	11.9%
Owner's Earnings	901M	690M	773M	564M	640M	765M	498M	-446M	305M	660M	591M	483M	485M	459M	370M	323M	335M	322M	318M	282M	305M	312M	297M	244M	245M	182M	297M	280M	-226M	226M	189M	180M
Owner's Earnings Margin	15.2%	12.3%	13.6%	10.7%	12.5%	15.5%	12.1%	-12.7%	8.9%	19.6%	18.8%	18.1%	19.9%	19.9%	17.8%	17.1%	18.0%	18.8%	16.4%	15.3%	19.7%	21.6%	23.3%	20.2%	22.4%	15.9%	25.0%	15.8%	-14.0%	16.6%	15.5%	16.3%
EPS (Basic)	5.31	4.54	4.88	4.44	5.69	6.11	4.28	-3.25	2.49	4.89	4.10	3.61	3.03	2.90	2.27	1.91	2.14	1.85	2.13	2.07	2.16	1.90	1.79	1.23	1.25	0.85	1.70	1.57	1.37	1.27	1.22	0.98
EPS (Diluted)	5.28	4.51	4.84	4.40	5.65	6.02	4.24	-3.18	2.56	4.83	4.04	3.55	2.97	2.84	2.22	1.88	2.11	1.83	2.09	2.02	2.12	1.86	1.76	1.21	1.30	0.90	1.68	1.55	1.34	1.24	1.19	0.96
Shares (Basic)	124M	124M	124M	123M	122M	122M	122M	121M	120M	120M	119M	119M	121M	121M	120M	122M	125M	126M	128M	132M	127M	130M	131M	135M	136M	137M	134M	138M	141M	144M	146M	151M
Shares (Diluted)	125M	125M	125M	124M	123M	124M	123M	121M	121M	122M	121M	121M	124M	124M	123M	124M	127M	128M	130M	135M	129M	132M	134M	137M	136M	137M	136M	140M	144M	148M	149M	154M

Product Segments

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
Global Consumer Solutions	—	—	—	—	—	—	—	359.90M	—	—	—	—	—	—	—	—
International	1,382.50M	1,315.80M	1,354.30M	1,229.00M	1,139.10M	1,101.80M	862.10M	920.60M	966.20M	932.30M	803.60M	568.50M	626.20M	513.50M	486.20M	492.90M
T A L X	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	404.30M
U S Consumer Information Solutions	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	792.60M
United States Consumer Information Solutions	2,014.10M	1,797.30M	1,893.00M	1,720.40M	1,657.70M	1,786.70M	1,482.50M	1,277.40M	1,247.30M	1,262.70M	1,236.50M	1,171.30M	—	—	—	—
Workforce	2,501.90M	2,352.40M	2,433.80M	2,315.80M	2,325.40M	2,035.40M	1,437.90M	949.70M	826.80M	764.20M	702.20M	577.70M	490.10M	474.10M	—	—

Geographic Segments

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
AUSTRALIA	—	—	309.10M	317.60M	325.20M	336.90M	282.60M	289.90M	321.20M	304.00M	214.30M	—	—	—	—	—
C A	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	151.30M
CANADA	35.50M	—	—	—	—	—	—	—	—	148.90M	134.30M	—	—	155.60M	153.90M	—
Other Countries	—	—	—	—	—	—	—	200.70M	—	—	—	—	—	—	—	208.10M
U S	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,440.90M
UNITED KINGDOM	—	—	302.80M	265.80M	265.50M	252.00M	285.20M	—	316.40M	311.20M	232.10M	224.10M	217.00M	144.70M	133.50M	—
UNITED STATES	—	—	4,326.80M	4,036.20M	3,983.10M	3,822.20M	3,217.10M	2,543.20M	2,405.10M	2,379.70M	2,290.90M	2,041.70M	1,810.20M	1,766.00M	1,649.40M	—

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	189.00M	189.00M	169.90M	216.80M	285.20M	224.70M	1,684.60M	401.30M	223.60M	336.40M	129.30M	93.30M	128.30M	235.90M	146.80M	127.70M	119.40M	103.10M	58.20M	81.60M	67.80M	37.50M	52.10M	39.30M	30.50M	33.20M	89.41M	136.60M	90.60M	52.30M	49.90M	26.10M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	189.00M	189.00M	169.90M	216.80M	285.20M	224.70M	1,684.60M	401.30M	223.60M	336.40M	129.30M	93.30M	128.30M	235.90M	146.80M	127.70M	119.40M	103.10M	58.20M	81.60M	67.80M	37.50M	52.10M	39.30M	30.50M	33.20M	89.41M	136.60M	90.60M	52.30M	49.90M	26.10M
Net Receivables	1,015.00M	1,038.90M	957.60M	908.20M	857.70M	727.60M	630.60M	532.10M	469.10M	444.80M	433.30M	349.80M	337.20M	309.70M	317.00M	284.40M	262.60M	258.70M	253.40M	295.80M	244.80M	216.00M	204.00M	188.70M	200.60M	266.20M	449.44M	390.68M	353.10M	270.70M	227.50M	258.30M
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	116.10M	120.20M	98.20M	88.80M	93.30M	60.20M	59.00M	187.90M	109.60M	122.90M	50.10M	79.20M	103.90M	68.30M	39.70M	15.60M	21.10M	27.40M	19.30M	21.80M	11.10M	9.00M	43.50M	57.90M	33.60M	32.20M	66.05M	82.10M	76.70M	77.90M	81.40M	82.30M
Total Current Assets	1,320.10M	1,348.10M	1,225.70M	1,213.80M	1,236.20M	1,012.50M	2,374.20M	1,121.30M	802.30M	904.10M	612.70M	522.30M	569.40M	613.90M	503.50M	427.70M	403.10M	389.20M	330.90M	399.20M	323.70M	262.50M	299.60M	285.90M	264.70M	331.60M	604.91M	609.38M	520.40M	400.90M	358.80M	366.70M
Property, Plant & Equipment	3,538.10M	1,912.80M	1,891.90M	1,834.00M	1,587.00M	1,315.90M	1,139.40M	947.60M	764.80M	567.00M	466.90M	366.80M	300.60M	288.90M	283.70M	292.90M	298.40M	319.30M	286.30M	259.50M	161.90M	137.00M	141.80M	47.00M	50.60M	55.20M	98.81M	115.50M	119.30M	94.70M	122.30M	87.80M
Goodwill	6,664.70M	6,655.20M	6,547.80M	6,829.90M	6,383.90M	6,258.10M	4,495.80M	4,308.30M	4,129.70M	4,184.00M	3,974.30M	2,571.00M	2,606.80M	2,395.10M	2,290.40M	1,961.20M	1,914.70M	1,943.20M	1,760.00M	1,834.60M	842.00M	0.00M	747.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	94.70M	1,520.30M	1,615.70M	1,953.60M	1,913.30M	1,992.90M	1,092.70M	1,139.50M	1,194.00M	1,342.00M	1,418.60M	922.60M	1,049.10M	1,068.70M	1,242.20M	645.80M	689.50M	782.50M	777.30M	860.20M	337.40M	1,149.60M	301.70M	724.30M	650.50M	516.50M	717.94M	612.60M	719.70M	365.40M	433.80M	353.60M
Long-Term Investments	0.00M	0.00M	0.00M	88.90M	74.50M	127.70M	127.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax 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
Other Non-Current Assets	71.20M	327.80M	343.40M	217.30M	218.70M	225.40M	277.90M	304.20M	162.40M	142.00M	131.30M	79.50M	114.00M	138.80M	165.10M	161.90M	101.80M	88.70M	82.90M	144.60M	104.10M	244.70M	90.50M	100.30M	520.20M	492.90M	923.63M	502.31M	469.40M	316.10M	461.70M	245.60M
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	10,368.70M	10,416.10M	10,398.80M	10,923.70M	10,177.40M	9,920.00M	7,133.50M	6,699.60M	6,250.90M	6,235.00M	5,991.10M	3,939.90M	4,070.50M	3,891.50M	3,981.40M	3,061.80M	3,004.40M	3,133.70M	2,906.50M	3,098.90M	1,445.40M	1,531.30M	1,281.50M	871.60M	1,221.30M	1,064.60M	1,740.38M	1,230.41M	1,308.40M	776.20M	1,017.80M	687.00M
Total Assets	11,688.80M	11,764.20M	11,624.50M	12,137.50M	11,413.60M	10,932.50M	9,507.70M	7,820.90M	7,053.20M	7,139.10M	6,603.80M	4,462.20M	4,639.90M	4,505.40M	4,484.90M	3,489.50M	3,407.50M	3,522.90M	3,237.40M	3,498.10M	1,769.10M	1,793.80M	1,581.10M	1,157.50M	1,486.00M	1,396.20M	2,345.29M	1,839.79M	1,828.80M	1,177.10M	1,376.60M	1,053.70M
Accounts Payable	156.20M	172.10M	138.20M	197.60M	250.80M	211.60M	159.10M	148.30M	175.70M	110.30M	81.00M	40.60M	20.30M	19.90M	25.10M	27.50M	24.60M	35.90M	29.90M	31.10M	23.50M	5.90M	9.70M	13.40M	16.50M	13.20M	16.80M	177.43M	107.30M	94.70M	71.80M	62.20M
Short-Term Debt	759.30M	847.00M	687.70M	963.40M	967.20M	824.80M	1,101.10M	3.10M	4.90M	965.30M	585.40M	49.30M	380.40M	296.50M	283.30M	47.20M	20.70M	183.20M	31.90M	222.10M	330.00M	92.30M	255.70M	160.50M	233.90M	62.00M	54.61M	79.90M	47.40M	13.00M	60.50M	20.40M
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	110.50M	112.60M	115.50M	109.50M	132.90M	121.30M	108.30M	104.00M	98.00M	108.40M	110.70M	96.80M	73.40M	61.80M	57.90M	55.80M	58.70M	69.80M	65.70M	69.90M	62.70M	49.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	413.40M	384.70M	403.20M	334.70M	296.60M	638.20M	612.50M	784.10M	204.00M	209.20M	174.40M	165.20M	161.60M	98.70M	90.60M	98.90M	153.60M	48.50M	78.70M	80.90M	62.00M	52.40M	162.70M	146.50M	146.50M	174.20M	196.11M	247.50M	264.50M	219.90M	198.30M	168.00M
Total Current Liabilities	1,439.40M	1,516.40M	1,344.60M	1,605.20M	1,647.50M	1,795.90M	1,981.00M	1,039.50M	482.60M	1,393.20M	951.50M	351.90M	635.70M	476.90M	456.90M	229.40M	257.60M	337.40M	206.20M	404.00M	478.20M	199.80M	428.10M	320.40M	396.90M	249.40M	267.52M	504.83M	419.20M	327.60M	330.60M	250.60M
Long-Term Debt	4,053.80M	4,051.00M	4,322.80M	4,747.80M	4,820.10M	4,470.10M	3,277.30M	3,379.50M	2,630.60M	1,739.00M	2,086.80M	1,138.40M	1,145.70M	1,145.50M	1,447.40M	966.00M	978.90M	990.90M	1,187.40M	1,165.20M	173.90M	463.80M	398.50M	663.00M	690.60M	693.60M	993.43M	933.71M	869.50M	339.30M	304.90M	302.70M
Capital Lease Obligations	0.00M	0.00M	157.00M	140.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	29.00M	0.00M	0.00M	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	376.40M	339.10M	351.60M	474.90M	460.30M	358.20M	332.30M	248.00M	316.20M	305.10M	325.40M	205.50M	241.50M	263.70M	227.70M	227.80M	244.20M	249.30M	215.30M	277.10M	70.80M	126.10M	38.60M	44.30M	25.90M	88.60M	90.20M	73.10M	50.10M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	342.30M	346.50M	353.90M	350.80M	279.00M	320.10M	308.80M	299.50M	223.90M	276.80M	270.90M	203.40M	229.30M	127.20M	230.30M	229.80M	182.60M	203.10M	216.10M	135.50M	125.70M	126.80M	139.60M	119.70M	141.50M	121.00M	168.88M	112.52M	123.50M	160.80M	147.90M	147.00M
Total Non-Current Liabilities	4,772.50M	4,736.60M	5,185.30M	5,714.20M	5,559.40M	5,148.40M	3,918.40M	3,927.00M	3,170.70M	2,320.90M	2,683.10M	1,547.30M	1,616.50M	1,536.40M	1,905.40M	1,423.60M	1,405.70M	1,472.30M	1,618.80M	1,577.80M	370.40M	716.70M	576.70M	827.00M	858.00M	903.20M	1,252.51M	1,119.33M	1,043.10M	500.10M	452.80M	449.70M
Total Liabilities	6,211.90M	6,253.00M	6,529.90M	7,319.40M	7,206.90M	6,944.30M	5,899.40M	4,966.50M	3,653.30M	3,714.10M	3,634.60M	1,899.20M	2,252.20M	2,013.30M	2,362.30M	1,653.00M	1,663.30M	1,809.70M	1,825.00M	1,981.80M	848.60M	916.50M	1,004.80M	1,147.40M	1,254.90M	1,152.60M	1,520.02M	1,624.16M	1,462.30M	827.70M	783.40M	700.30M
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	175.00M	119.75M	46.30M	0.00M	0.00M	0.00M	0.00M
Common Stock	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.60M	236.50M	235.60M	232.90M	231.50M	227.50M	225.50M	225.10M	223.00M	219.99M	217.80M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	6,330.30M	6,231.90M	6,018.60M	5,608.60M	5,256.00M	4,751.60M	4,185.40M	4,131.80M	4,717.80M	4,600.60M	4,153.20M	3,834.40M	3,554.80M	3,309.20M	3,064.60M	2,879.20M	2,725.70M	2,494.20M	2,281.00M	2,030.00M	1,778.60M	1,525.10M	1,298.80M	1,079.00M	925.40M	758.80M	902.48M	726.80M	562.90M	415.10M	396.30M	270.00M
Accumulated OCI	-551.30M	-559.80M	-722.70M	-431.20M	-473.70M	-295.40M	-171.40M	-631.60M	-626.30M	-412.00M	-528.90M	-484.80M	-435.40M	-312.60M	-362.00M	-391.80M	-344.50M	-318.70M	-390.60M	-228.20M	-232.20M	-220.70M	-336.20M	-370.00M	-441.80M	-287.00M	-296.46M	-217.40M	-151.00M	-124.70M	-164.60M	-148.90M
Minority Interest	137.30M	132.30M	122.70M	153.40M	16.80M	16.80M	41.90M	44.30M	47.90M	64.60M	58.60M	39.50M	34.50M	40.30M	26.00M	19.70M	17.00M	13.80M	11.10M	0.00M	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	6,015.60M	5,908.70M	5,532.50M	5,414.00M	5,018.90M	4,692.80M	4,250.60M	3,736.80M	4,328.10M	4,425.20M	3,860.90M	3,586.20M	3,356.00M	3,233.20M	2,939.20M	2,724.00M	2,617.80M	2,412.10M	2,126.90M	2,037.40M	1,779.30M	1,535.90M	1,190.10M	934.50M	708.70M	869.80M	945.76M	773.50M	411.90M	290.40M	231.70M	121.10M
Total Equity	6,152.90M	6,041.00M	5,655.20M	5,567.40M	5,035.70M	4,709.60M	4,292.50M	3,781.10M	4,376.00M	4,489.80M	3,919.50M	3,625.70M	3,390.50M	3,273.50M	2,965.20M	2,743.70M	2,634.80M	2,425.90M	2,138.00M	2,037.40M	1,779.30M	1,535.90M	1,190.10M	934.50M	708.70M	869.80M	945.76M	773.50M	411.90M	290.40M	231.70M	121.10M
Total Liabilities & Equity	12,364.80M	12,294.00M	12,185.10M	12,886.80M	12,242.60M	11,653.90M	10,191.90M	8,747.60M	8,029.30M	8,203.90M	7,554.10M	5,524.90M	5,642.70M	5,286.80M	5,327.50M	4,396.70M	4,298.10M	4,235.60M	3,963.00M	4,019.20M	2,627.90M	2,452.40M	2,194.90M	2,081.90M	1,963.60M	2,022.40M	2,465.78M	2,397.66M	1,874.20M	1,118.10M	1,015.10M	821.40M
Tangible Assets	4,929.40M	3,588.70M	3,461.00M	3,354.00M	3,116.40M	2,681.50M	3,919.20M	2,373.10M	1,729.50M	1,613.10M	1,210.90M	968.60M	984.00M	1,041.60M	952.30M	882.50M	803.30M	797.20M	700.10M	803.30M	589.70M	644.20M	531.90M	433.20M	835.50M	879.70M	1,627.35M	1,227.19M	1,109.10M	811.70M	942.80M	700.10M
Tangible Equity	-606.50M	-2,134.50M	-2,508.30M	-3,216.10M	-3,261.50M	-3,541.40M	-1,296.00M	-1,666.70M	-947.70M	-1,036.20M	-1,473.40M	132.10M	-265.40M	-190.30M	-567.40M	136.70M	30.60M	-299.80M	-399.30M	-657.40M	599.90M	386.30M	140.90M	210.20M	58.20M	353.30M	227.82M	160.90M	-307.80M	-75.00M	-202.10M	-232.50M
Tangible Book Value	-606.50M	-2,134.50M	-2,508.30M	-3,216.10M	-3,261.50M	-3,541.40M	-1,296.00M	-1,666.70M	-947.70M	-1,036.20M	-1,473.40M	132.10M	-265.40M	-190.30M	-567.40M	136.70M	30.60M	-299.80M	-399.30M	-657.40M	599.90M	386.30M	140.90M	210.20M	58.20M	353.30M	227.82M	160.90M	-307.80M	-75.00M	-202.10M	-232.50M
Total Investments	0.00M	0.00M	0.00M	88.90M	74.50M	127.70M	127.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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 Debt	4,624.10M	4,709.00M	4,840.60M	5,494.40M	5,502.10M	5,070.20M	2,693.80M	2,981.30M	2,411.90M	2,367.90M	2,542.90M	1,094.40M	1,397.80M	1,206.10M	1,583.90M	885.50M	880.20M	1,071.00M	1,161.10M	1,305.70M	436.10M	518.60M	602.10M	784.20M	894.00M	722.40M	958.62M	877.01M	826.30M	300.00M	315.50M	297.00M

Capital Metrics

Metric	MRQ	MRQ-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Working Capital	-520.4M	-443.7M	-450.9M	-662.7M	-644.7M	-1,170.4M	-4.8M	-149.7M	75.5M	-675.1M	-586.7M	-42.2M	-218.0M	-14.1M	-116.8M	87.4M	109.7M	-75.4M	35.8M	-121.9M	-236.9M	-14.1M	-157.3M	-68.9M	-142.3M	82.1M	337.8M	104.6M	101.2M	73.3M	107.3M	116.1M
Total Capital	9,751.6M	10,001.5M	9,807.4M	10,245.3M	9,743.8M	8,879.3M	7,546.8M	5,961.2M	5,743.3M	5,878.7M	5,334.9M	3,506.1M	3,726.2M	3,742.7M	3,663.9M	2,715.6M	2,691.0M	2,775.3M	2,531.7M	2,786.5M	1,342.0M	1,376.4M	1,177.8M	1,195.0M	1,145.5M	999.1M	1,431.8M	1,229.2M	1,283.4M	701.7M	791.4M	676.5M
Capital Employed	9,848.3M	9,972.4M	9,947.9M	10,261.0M	9,532.7M	8,749.6M	7,128.7M	6,549.9M	6,326.4M	5,559.9M	5,404.4M	3,905.2M	3,851.1M	3,877.4M	3,864.6M	3,143.7M	3,114.1M	3,058.3M	2,942.3M	2,977.0M	1,208.5M	1,537.0M	1,100.3M	1,198.5M	1,079.0M	1,146.7M	1,802.5M	1,335.0M	1,409.6M	849.5M	973.1M	803.1M
Invested Capital	9,562.6M	9,812.5M	9,637.5M	10,028.5M	9,458.6M	8,654.6M	5,862.2M	5,559.9M	5,519.7M	5,542.3M	5,205.6M	3,412.8M	3,597.9M	3,506.8M	3,517.1M	2,587.9M	2,571.6M	2,672.2M	2,473.5M	2,704.9M	1,274.2M	1,338.9M	1,125.7M	1,155.7M	1,115.0M	965.9M	1,342.3M	1,092.6M	1,192.8M	649.4M	741.5M	650.4M

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	661.30M	568.40M	607.30M	551.70M	700.20M	748.50M	526.20M	-378.10M	317.00M	598.00M	495.10M	434.80M	374.00M	359.90M	280.80M	241.70M	274.80M	240.50M	279.00M	272.70M	274.50M	246.50M	234.70M	164.90M	178.00M	122.50M	228.00M	215.90M	193.40M	186.90M	177.60M	147.70M
Depreciation & Amortization	714.50M	665.70M	680.60M	619.80M	568.60M	489.60M	399.30M	337.30M	315.90M	290.90M	268.70M	200.00M	204.20M	190.30M	163.40M	164.90M	167.80M	158.80M	155.40M	127.70M	82.80M	82.20M	78.70M	94.10M	79.70M	106.20M	106.20M	125.30M	103.80M	77.10M	67.50M	63.70M
Deferred Income Tax	7.90M	-47.50M	-66.90M	-70.20M	88.10M	9.30M	66.50M	-82.70M	1.30M	-44.10M	-13.00M	-28.70M	-9.60M	-9.70M	-26.50M	3.60M	0.10M	14.70M	7.70M	7.90M	-2.60M	11.80M	25.30M	15.80M	17.90M	8.20M	19.60M	20.90M	34.60M	9.70M	-22.20M	15.20M
Stock-Based Compensation	83.60M	82.40M	81.60M	71.80M	62.60M	54.90M	54.70M	49.70M	42.50M	38.30M	37.10M	38.40M	38.10M	32.20M	28.00M	24.40M	21.80M	19.60M	19.90M	17.60M	17.40M	8.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	13.20M	52.80M	21.90M	-42.50M	-625.60M	-26.30M	49.00M	387.60M	-4.50M	-67.10M	71.00M	139.80M	27.20M	12.90M	13.60M	-51.00M	-81.30M	-13.90M	-14.70M	24.40M	-1.70M	-29.00M	-6.20M	-31.80M	-46.30M	-47.30M	-83.90M	-30.20M	-42.80M	-44.50M	82.10M	-81.20M
Accounts Receivable	-64.10M	15.30M	-66.30M	-23.30M	-138.60M	-66.20M	-93.70M	-61.30M	-37.40M	-1.30M	-55.70M	-26.90M	-27.80M	-2.40M	-17.20M	-26.60M	-3.60M	12.80M	24.20M	-1.60M	-22.80M	-14.30M	-17.20M	17.80M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	77.30M	37.50M	88.20M	-19.20M	-487.00M	39.90M	142.70M	448.90M	47.20M	-65.80M	93.00M	139.70M	55.00M	12.60M	30.80M	-24.40M	-77.70M	-27.60M	-36.10M	26.00M	21.10M	-14.70M	11.00M	-52.40M	-47.50M	-47.30M	-117.01M	-30.20M	-42.80M	-44.50M	75.00M	-91.20M
Other Non-Cash Items	-10.80M	0.00M	0.00M	-13.80M	-36.80M	58.80M	-149.50M	0.00M	0.00M	0.00M	-35.90M	-15.20M	-17.70M	-16.60M	37.00M	25.10M	-30.60M	-1.30M	0.80M	-0.40M	19.10M	26.30M	-21.80M	51.50M	17.90M	221.60M	-61.40M	-7.20M	0.10M	63.60M	-100.90M	4.20M
Net Cash from Operating Activities	1,469.70M	1,321.80M	1,324.50M	1,116.80M	757.10M	1,334.80M	946.20M	313.80M	672.20M	816.00M	784.50M	742.10M	616.20M	566.30M	496.30M	408.70M	352.60M	418.40M	444.70M	449.90M	374.30M	337.80M	310.70M	293.80M	248.50M	255.10M	284.17M	324.70M	289.10M	292.80M	308.80M	159.90M
Capital Expenditures (PPE)	-470.30M	-538.30M	-511.50M	-601.30M	-624.50M	-469.00M	-421.30M	-399.60M	-321.90M	-218.20M	-167.00M	-146.20M	-86.40M	-83.30M	-66.00M	-75.00M	-99.80M	-70.70M	-110.50M	-118.50M	-52.00M	-17.20M	-16.50M	-14.60M	-12.80M	-47.10M	-37.13M	-61.20M	-523.40M	-34.60M	-56.00M	-31.70M
Acquisitions (Net)	0.00M	-7.80M	0.00M	-276.90M	-335.00M	-2,934.10M	-71.40M	-297.90M	-145.20M	-139.90M	-1,791.60M	-1.60M	-342.90M	-50.30M	-1,017.60M	-129.10M	-82.60M	-199.40M	-31.10M	-300.00M	-34.40M	-121.80M	-17.40M	-40.70M	-321.20M	-43.50M	-382.83M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-10.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-0.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	10.10M	59.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	1.60M	0.00M	0.00M	0.00M	0.00M	4.90M	0.00M	0.00M	5.60M	8.60M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.40M	0.00M	-1.00M	-43.90M	-6.90M	-50.00M	99.60M	-56.60M	-84.30M	-85.90M	-55.90M	-43.40M
Net Cash from Investing Activities	-469.50M	-546.10M	-511.50M	-878.20M	-959.50M	-3,398.20M	-492.70M	-697.50M	-461.50M	-349.50M	-1,969.40M	-147.80M	-429.30M	-133.60M	-1,083.60M	-204.10M	1.00M	-270.10M	-141.60M	-422.30M	-86.80M	-157.90M	-6.50M	-99.70M	-341.00M	-106.50M	-339.44M	-117.80M	-607.70M	-120.50M	-185.50M	-81.70M
Net Debt Issuance	-660.70M	-533.60M	-704.60M	-77.60M	491.50M	920.30M	997.60M	746.50M	-64.70M	29.90M	1,297.70M	-331.00M	89.90M	-282.30M	718.10M	7.70M	-159.80M	-70.80M	-155.30M	688.80M	-52.20M	-92.70M	-161.10M	-105.20M	148.70M	-289.60M	48.70M	97.10M	549.40M	-16.80M	32.90M	26.70M
Long-Term Debt Issuance	-748.30M	-50.10M	-795.80M	293.60M	249.30M	596.90M	998.30M	748.30M	894.50M	-222.50M	1,224.70M	0.00M	-290.00M	-15.00M	484.00M	-16.70M	-25.80M	-172.60M	29.50M	549.10M	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 Issuance	87.60M	-483.50M	91.20M	-371.20M	242.20M	323.40M	-0.70M	-1.80M	-959.20M	252.40M	73.00M	-331.00M	379.90M	-267.30M	234.10M	24.40M	-134.00M	101.80M	-184.80M	139.70M	-12.20M	92.30M	-145.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-367.80M	81.20M	78.20M	32.30M	16.90M	-69.90M	41.70M	0.00M	0.00M	-77.10M	0.00M	-196.30M	-301.60M	-11.90M	-85.10M	-142.30M	-167.50M	-23.80M	-155.70M	-718.70M	-189.10M	-81.20M	-109.90M	-75.40M	-45.60M	-5.90M	16.70M	-203.20M	-149.60M	-110.80M	-79.70M	-116.10M
Common Stock Issuance	48.70M	81.20M	78.20M	32.30M	16.90M	0.00M	41.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	31.60M	26.10M	62.80M	28.10M	19.50M	34.20M	36.40M	23.20M	7.00M	12.20M	18.30M	25.90M	16.60M
Common Stock Repurchased	-416.50M	0.00M	0.00M	0.00M	0.00M	-69.90M	0.00M	0.00M	0.00M	-77.10M	0.00M	-196.30M	-301.60M	-11.90M	-85.10M	-142.30M	-167.50M	-23.80M	-155.70M	-718.70M	-215.20M	-144.00M	-138.00M	-94.90M	-79.80M	-42.30M	-6.50M	-210.20M	-161.80M	-129.10M	-105.60M	-132.70M
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	-220.40M	-192.90M	-193.20M	-191.80M	-191.10M	-190.00M	-189.50M	-188.70M	-187.90M	-187.40M	-157.60M	-137.80M	-121.20M	-106.70M	-86.00M	-83.70M	-40.30M	-24.20M	-20.50M	-20.70M	-20.30M	-20.20M	-15.00M	-11.30M	-11.40M	-32.30M	-52.37M	-52.00M	-52.10M	-52.00M	-49.80M	-50.20M
Common Dividends Paid	-220.40M	-192.90M	-193.20M	-191.80M	-191.10M	-190.00M	-189.50M	-188.70M	-187.90M	-187.40M	-157.60M	-137.80M	-121.20M	-106.70M	-86.00M	-78.10M	-35.20M	-20.20M	-20.50M	-20.70M	-20.30M	-20.20M	-15.00M	-11.30M	-11.40M	-32.30M	-52.30M	-52.00M	-52.10M	-52.00M	-49.70M	-50.20M
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	-4.00M	0.00M	0.00M	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	-20.20M	-69.40M	-26.80M	-69.10M	-43.60M	-42.70M	-39.00M	0.10M	-58.40M	-29.10M	20.20M	26.10M	49.50M	67.80M	59.30M	16.80M	27.20M	10.50M	15.80M	33.00M	6.60M	0.60M	-3.00M	-3.40M	0.90M	2.30M	3.30M	5.10M	11.80M	11.20M	10.00M	7.00M
Net Cash from Financing Activities	-1,269.10M	-714.70M	-846.40M	-306.20M	273.70M	617.70M	810.80M	557.90M	-311.00M	-263.70M	1,160.30M	-639.00M	-283.40M	-333.10M	606.30M	-195.90M	-335.30M	-108.30M	-319.10M	-17.60M	-255.00M	-193.50M	-289.00M	-195.30M	92.60M	-325.50M	16.40M	-153.00M	359.50M	-168.40M	-86.50M	-132.60M
Effect of FX on Cash	8.80M	-5.40M	-13.50M	-0.80M	-10.80M	-14.20M	19.00M	3.50M	-12.50M	4.30M	33.40M	-17.30M	-11.10M	-10.50M	0.10M	-0.40M	-2.00M	4.90M	-10.80M	3.80M	0.00M	-1.00M	-1.20M	8.30M	-2.80M	-5.60M	-7.88M	-7.90M	-2.50M	0.20M	-1.00M	1.10M
Net Change in Cash	-260.10M	55.60M	-46.90M	-68.40M	60.50M	-1,459.90M	1,283.30M	177.70M	-112.80M	207.10M	36.00M	-35.00M	-107.60M	89.10M	19.10M	8.30M	16.30M	44.90M	-23.40M	13.80M	30.30M	-14.60M	14.00M	8.80M	-2.70M	-26.40M	-47.18M	46.00M	38.40M	4.10M	23.70M	-53.30M
Cash at Beginning of Period	1,003.20M	1,012.30M	216.80M	285.20M	224.70M	1,684.60M	401.30M	223.60M	336.40M	129.30M	93.30M	128.30M	235.90M	146.80M	127.70M	119.40M	103.10M	58.20M	81.60M	67.80M	37.50M	52.10M	38.10M	30.50M	33.20M	59.60M	136.60M	90.60M	52.30M	48.20M	26.10M	79.40M
Cash at End of Period	743.10M	1,067.90M	169.90M	216.80M	285.20M	224.70M	1,684.60M	401.30M	223.60M	336.40M	129.30M	93.30M	128.30M	235.90M	146.80M	127.70M	119.40M	103.10M	58.20M	81.60M	67.80M	37.50M	52.10M	39.30M	30.50M	33.20M	89.41M	136.60M	90.70M	52.30M	49.80M	26.10M
Operating Cash Flow	1,469.70M	1,321.80M	1,324.50M	1,116.80M	757.10M	1,334.80M	946.20M	313.80M	672.20M	816.00M	784.50M	742.10M	616.20M	566.30M	496.30M	408.70M	352.60M	418.40M	444.70M	449.90M	374.30M	337.80M	310.70M	293.80M	248.50M	255.10M	284.17M	324.70M	289.10M	292.80M	308.80M	159.90M
Capital Expenditure	-470.30M	-538.30M	-511.50M	-601.30M	-624.50M	-469.00M	-421.30M	-399.60M	-321.90M	-218.20M	-167.00M	-146.20M	-86.40M	-83.30M	-66.00M	-75.00M	-99.80M	-70.70M	-110.50M	-118.50M	-52.00M	-17.20M	-16.50M	-14.60M	-12.80M	-47.10M	-37.13M	-61.20M	-523.40M	-34.60M	-56.00M	-31.70M
Free Cash Flow	999.40M	783.50M	813.00M	515.50M	132.60M	865.80M	524.90M	-85.80M	350.30M	597.80M	617.50M	595.90M	529.80M	483.00M	430.30M	333.70M	252.80M	347.70M	334.20M	331.40M	322.30M	320.60M	294.20M	279.20M	235.70M	208.00M	247.03M	263.50M	-234.30M	258.20M	252.80M	128.20M

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	2,503.20M	2,296.50M	2,377.20M	2,156.40M	2,176.80M	2,070.40M	1,483.10M	333.00M	1,074.30M	1,410.40M	1,359.20M	1,091.90M	1,044.20M	991.10M	803.40M	794.10M	760.00M	685.80M	788.00M	741.60M	601.70M	586.40M	533.20M	533.00M	511.90M	526.60M	521.00M	665.10M	573.30M	478.10M	401.90M	349.30M
(-) Tax Adjustment	638.21M	596.11M	595.99M	499.23M	537.35M	437.77M	344.15M	28.73M	154.88M	280.72M	435.09M	346.13M	364.07M	346.89M	281.19M	277.94M	266.00M	220.86M	254.51M	259.56M	204.57M	205.24M	186.62M	186.55M	179.17M	184.31M	182.35M	232.79M	200.66M	167.34M	140.67M	122.26M
(-) Change In Working Capital	13.20M	52.80M	21.90M	-42.50M	-625.60M	-26.30M	49.00M	387.60M	-4.50M	-67.10M	71.00M	139.80M	27.20M	12.90M	13.60M	-51.00M	-81.30M	-13.90M	-14.70M	24.40M	-1.70M	-29.00M	-6.20M	-31.80M	-46.30M	-47.30M	-83.90M	-30.20M	-42.80M	-44.50M	82.10M	-81.20M
(-) Capital Expenditure	-470.30M	-538.30M	-511.50M	-601.30M	-624.50M	-469.00M	-421.30M	-399.60M	-321.90M	-218.20M	-167.00M	-146.20M	-86.40M	-83.30M	-66.00M	-75.00M	-99.80M	-70.70M	-110.50M	-118.50M	-52.00M	-17.20M	-16.50M	-14.60M	-12.80M	-47.10M	-37.13M	-61.20M	-523.40M	-34.60M	-56.00M	-31.70M
Unlevered Free Cash Flow	1,381.49M	1,109.29M	1,247.81M	1,098.37M	1,640.55M	1,189.93M	668.65M	-482.93M	602.02M	978.58M	686.11M	459.77M	566.53M	548.02M	442.61M	492.17M	475.50M	408.14M	437.69M	339.14M	346.83M	392.96M	336.28M	363.65M	366.24M	342.49M	385.42M	401.32M	-107.96M	320.67M	123.14M	276.55M
(-) Net Interest Income After Taxes	-159.36M	-172.96M	-171.66M	-185.51M	-137.83M	-114.81M	-108.74M	-102.06M	-88.58M	-74.33M	-62.62M	-43.58M	-44.68M	-45.63M	-36.01M	-35.82M	-36.47M	-38.64M	-48.27M	-38.03M	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 Debt Issuance	-660.70M	-533.60M	-704.60M	-77.60M	491.50M	920.30M	997.60M	746.50M	-64.70M	29.90M	1,297.70M	-331.00M	89.90M	-282.30M	718.10M	7.70M	-159.80M	-70.80M	-155.30M	688.80M	-52.20M	-92.70M	-161.10M	-105.20M	148.70M	-289.60M	48.70M	97.10M	549.40M	-16.80M	32.90M	26.70M
Levered Free Cash Flow	880.16M	748.65M	714.88M	1,206.29M	2,269.87M	2,225.05M	1,774.99M	365.63M	625.90M	1,082.81M	2,046.43M	172.35M	701.11M	311.35M	1,196.72M	535.68M	352.17M	375.98M	330.66M	1,065.97M	294.63M	300.26M	175.18M	258.45M	514.94M	52.89M	434.12M	498.42M	441.45M	303.87M	156.04M	303.25M