Banks

Category: Industry Averages Base Ticker: CBK

Methodology: Industry metrics are calculated using the Top 100 companies by revenue within the industry. Values shown represent averages, not aggregates, and are winsorized at the 80/20 percentile to reduce the impact of extreme outliers. All financials are USD-normalized and intended to reflect the core economic structure of the industry.

Industry Enterprise Value

Metric	MRQ	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	1995
Stock Price	64.54	45.98	39.30	39.35	44.19	38.87	38.47	35.58	44.73	39.27	33.39	34.81	35.09	33.42	30.31	34.61	30.85	26.54	69.70	43.73	40.17	56.96	31.75	20.33	24.18	24.27	21.97	27.95	23.80	19.10	17.86
Market Capitalization	16,316.93M	9,114.26M	8,769.96M	8,450.09M	5,162.87M	6,584.32M	5,686.03M	6,016.44M	5,855.29M	4,744.30M	3,646.46M	4,217.07M	3,666.69M	3,491.96M	2,886.82M	3,285.34M	2,405.65M	2,528.00M	3,215.55M	3,701.07M	3,561.40M	7,997.99M	6,996.55M	5,312.22M	6,454.95M	3,846.74M	3,326.97M	4,435.28M	3,914.36M	2,894.97M	2,367.51M
(-) Cash & Equivalents	2,558.56M	5,418.18M	4,515.58M	4,992.55M	5,657.41M	5,675.70M	2,849.25M	2,251.32M	2,413.06M	2,227.86M	2,513.89M	2,307.95M	2,296.93M	2,702.91M	1,693.37M	1,687.81M	1,423.71M	1,440.05M	961.83M	845.71M	941.78M	890.25M	1,530.95M	2,605.32M	3,040.05M	958.47M	785.20M	1,010.11M	743.31M	837.55M	864.30M
(+) Total Debt	6,853.71M	10,383.08M	10,478.26M	9,091.48M	7,366.80M	9,130.89M	5,610.13M	5,059.51M	4,919.55M	4,432.85M	4,295.80M	3,709.38M	3,412.68M	2,637.43M	2,918.93M	2,875.15M	2,897.48M	5,177.02M	4,005.50M	5,451.98M	5,828.24M	4,567.66M	3,954.49M	4,902.67M	5,092.45M	4,663.79M	4,608.45M	4,039.67M	4,107.86M	3,875.77M	4,015.00M
Enterprise Value	28,806.02M	13,731.01M	12,734.93M	6,900.18M	6,815.85M	6,713.87M	7,579.28M	8,300.91M	8,072.96M	6,900.65M	5,052.96M	5,459.54M	4,592.73M	4,271.58M	4,139.91M	4,659.34M	4,317.63M	5,937.43M	6,414.47M	7,221.18M	7,795.88M	11,355.63M	9,252.82M	7,009.70M	7,228.77M	7,555.71M	7,197.45M	7,439.58M	7,359.55M	6,260.76M	5,719.55M

Industry Income Statement

Metric	TTM	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	1995
Revenue	8,323.195M	9,626.078M	5,946.248M	6,894.622M	2,174.581M	4,646.879M	1,947.277M	1,783.814M	1,759.367M	1,586.768M	1,494.462M	1,357.334M	1,293.889M	1,206.126M	1,151.444M	1,064.219M	1,223.842M	1,445.216M	1,559.728M	1,517.195M	1,352.925M	3,766.689M	4,248.880M	4,269.101M	5,275.633M	2,004.098M	1,755.563M	1,716.676M	1,505.919M	1,526.183M	1,466.667M
Cost of Revenue	670.563M	1,515.020M	570.782M	453.344M	52.875M	254.217M	184.841M	90.288M	68.281M	103.338M	55.892M	36.480M	45.096M	90.736M	159.652M	209.589M	436.725M	535.269M	437.413M	406.344M	227.878M	359.495M	334.301M	450.488M	617.655M	531.200M	432.532M	430.128M	293.400M	280.133M	235.467M
Gross Profit	7,652.631M	8,111.058M	5,375.466M	6,441.277M	2,121.706M	4,392.663M	1,762.436M	1,693.526M	1,691.086M	1,483.431M	1,438.570M	1,320.854M	1,248.792M	1,115.390M	991.793M	854.631M	787.117M	909.947M	1,122.315M	1,110.851M	1,125.048M	3,407.194M	3,914.579M	3,818.612M	4,657.979M	1,472.898M	1,323.031M	1,286.548M	1,212.519M	1,246.050M	1,231.200M
Gross Margin	91.94%	84.26%	90.40%	93.42%	97.57%	94.53%	90.51%	94.94%	96.12%	93.49%	96.26%	97.31%	96.51%	92.48%	86.13%	80.31%	64.32%	62.96%	71.96%	73.22%	83.16%	90.46%	92.13%	89.45%	88.29%	73.49%	75.36%	74.94%	80.52%	81.64%	83.95%
R&D Expenses	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	2,532.647M	1,008.948M	1,004.936M	959.894M	839.721M	1,125.039M	590.783M	565.209M	532.754M	503.386M	523.244M	498.105M	494.742M	457.115M	380.472M	333.332M	339.656M	360.706M	357.361M	343.005M	335.866M	707.033M	741.561M	1,074.624M	1,369.113M	386.023M	362.333M	346.139M	342.549M	312.767M	287.300M
Operating Expenses	2,532.647M	1,008.948M	1,004.936M	959.894M	839.721M	1,125.039M	590.783M	565.209M	532.754M	503.386M	523.244M	498.105M	494.742M	457.115M	380.472M	333.332M	339.656M	360.706M	357.361M	343.005M	335.866M	707.033M	741.561M	1,074.624M	1,369.113M	386.023M	362.333M	346.139M	342.549M	312.767M	287.300M
Operating Income	5,119.984M	7,102.110M	4,370.530M	5,481.383M	1,281.985M	3,267.623M	1,171.653M	1,128.318M	1,158.332M	980.045M	915.327M	822.749M	754.050M	658.274M	611.321M	521.299M	447.461M	549.241M	764.954M	767.846M	789.181M	2,700.161M	3,173.018M	2,743.988M	3,288.866M	1,086.875M	960.698M	940.409M	869.971M	933.283M	943.900M
Operating Margin	61.51%	73.78%	73.50%	79.50%	58.95%	70.32%	60.17%	63.25%	65.84%	61.76%	61.25%	60.62%	58.28%	54.58%	53.09%	48.98%	36.56%	38.00%	49.04%	50.61%	58.33%	71.69%	74.68%	64.28%	62.34%	54.23%	54.72%	54.78%	57.77%	61.15%	64.36%
Interest Income	1,337.283M	1,331.640M	1,268.004M	959.962M	711.699M	753.286M	715.354M	633.744M	554.587M	507.799M	501.684M	511.648M	525.714M	656.245M	708.897M	684.701M	700.563M	1,012.845M	1,054.436M	1,006.445M	890.659M	854.911M	966.500M	1,097.829M	1,344.321M	1,642.617M	1,406.793M	1,423.494M	1,188.557M	1,325.533M	1,278.067M
Interest Expense	441.645M	611.003M	543.172M	152.895M	74.823M	113.663M	195.469M	120.680M	89.349M	95.556M	97.580M	200.536M	134.018M	152.246M	249.338M	165.769M	231.200M	401.312M	469.799M	455.706M	279.010M	268.622M	596.214M	662.323M	560.246M	795.612M	627.491M	660.949M	617.906M	606.767M	630.967M
Net Interest Income	895.638M	720.637M	724.831M	807.068M	636.875M	639.623M	519.885M	513.064M	465.239M	412.243M	404.105M	311.112M	391.696M	504.000M	459.559M	518.932M	469.363M	611.533M	584.637M	550.738M	611.649M	586.289M	370.286M	435.506M	784.075M	847.005M	779.303M	762.545M	570.651M	718.767M	647.100M
Other Income / Expense	-4,486.940M	-6,710.753M	-4,048.287M	-5,559.881M	-1,193.326M	-3,617.361M	-1,013.292M	-1,017.313M	-1,047.514M	-1,102.775M	-970.533M	-777.591M	-961.763M	-902.125M	-862.104M	-889.708M	-840.159M	-1,018.080M	-989.123M	-899.241M	-924.992M	-2,372.634M	-2,907.721M	-2,868.354M	-3,702.166M	-1,518.288M	-1,326.937M	-1,320.361M	-1,080.208M	-1,330.250M	-1,289.367M
Pre-Tax Income	1,528.682M	1,111.994M	1,047.074M	728.570M	725.535M	289.886M	678.246M	624.069M	576.057M	289.513M	348.898M	356.270M	183.984M	260.149M	208.776M	150.523M	76.665M	142.694M	360.468M	419.344M	475.838M	913.817M	635.583M	311.140M	370.775M	415.591M	413.063M	382.593M	360.414M	321.800M	301.633M
Pre-Tax Margin	18.37%	11.55%	17.61%	10.57%	33.36%	6.24%	34.83%	34.99%	32.74%	18.25%	23.35%	26.25%	14.22%	21.57%	18.13%	14.14%	6.26%	9.87%	23.11%	27.64%	35.17%	24.26%	14.96%	7.29%	7.03%	20.74%	23.53%	22.29%	23.93%	21.09%	20.57%
Income Tax Expense	336.087M	215.203M	208.102M	189.034M	139.024M	62.654M	164.192M	111.277M	143.258M	127.642M	73.724M	106.643M	47.885M	59.781M	69.986M	45.236M	15.811M	37.451M	101.323M	127.469M	126.749M	259.668M	199.668M	77.485M	64.378M	141.716M	140.494M	130.415M	119.260M	105.100M	101.833M
Tax Rate	21.99%	19.35%	19.87%	25.95%	19.16%	21.61%	24.21%	17.83%	24.87%	35.00%	21.13%	29.93%	26.03%	22.98%	33.52%	30.05%	20.62%	26.25%	28.11%	30.40%	26.64%	28.42%	31.41%	24.90%	17.36%	34.10%	34.01%	34.09%	33.09%	32.66%	33.76%
Net Income	1,192.595M	896.790M	838.972M	539.537M	586.511M	227.231M	514.054M	512.792M	432.798M	161.871M	275.174M	249.627M	136.099M	200.368M	138.790M	105.287M	60.855M	105.242M	259.145M	291.875M	349.089M	654.149M	435.914M	233.656M	306.397M	273.874M	272.569M	252.178M	241.154M	216.700M	199.800M
Net Margin	14.33%	9.32%	14.11%	7.83%	26.97%	4.89%	26.40%	28.75%	24.60%	10.20%	18.41%	18.39%	10.52%	16.61%	12.05%	9.89%	4.97%	7.28%	16.61%	19.24%	25.80%	17.37%	10.26%	5.47%	5.81%	13.67%	15.53%	14.69%	16.01%	14.20%	13.62%
EBIT	5,119.984M	7,102.110M	4,370.530M	5,481.383M	1,281.985M	3,267.623M	1,171.653M	1,128.318M	1,158.332M	980.045M	915.327M	822.749M	754.050M	658.274M	611.321M	521.299M	447.461M	549.241M	764.954M	767.846M	789.181M	2,700.161M	3,173.018M	2,743.988M	3,288.866M	1,086.875M	960.698M	940.409M	869.971M	933.283M	943.900M
Depreciation & Amortization	33.014M	31.803M	15.749M	50.721M	35.963M	66.319M	70.178M	61.486M	63.417M	49.133M	35.958M	13.943M	38.220M	46.865M	62.480M	35.284M	51.740M	60.249M	51.048M	90.146M	83.142M	152.768M	59.036M	51.217M	67.306M	48.046M	49.127M	64.421M	50.198M	54.750M	51.783M
EBITDA	5,152.999M	7,133.913M	4,386.279M	5,532.105M	1,317.949M	3,333.943M	1,241.830M	1,189.804M	1,221.749M	1,029.178M	951.285M	836.693M	792.270M	705.139M	673.801M	556.583M	499.201M	609.490M	816.002M	857.993M	872.323M	2,852.929M	3,232.054M	2,795.205M	3,356.172M	1,134.921M	1,009.824M	1,004.830M	920.169M	988.033M	995.683M
EBITDA Margin	61.91%	74.11%	73.77%	80.24%	60.61%	71.75%	63.77%	66.70%	69.44%	64.86%	63.65%	61.64%	61.23%	58.46%	58.52%	52.30%	40.79%	42.17%	52.32%	56.55%	64.48%	75.74%	76.07%	65.48%	63.62%	56.63%	57.52%	58.53%	61.10%	64.74%	67.89%
NOPAT	3,994.334M	5,727.643M	3,501.904M	4,059.192M	1,036.337M	2,561.378M	888.015M	927.129M	870.269M	637.029M	721.914M	576.475M	557.797M	507.006M	406.394M	364.634M	355.181M	405.087M	549.935M	534.442M	578.967M	1,932.891M	2,176.215M	2,060.640M	2,717.819M	716.250M	633.939M	619.850M	582.099M	628.473M	625.233M
NOPAT Margin	47.99%	59.50%	58.89%	58.87%	47.66%	55.12%	45.60%	51.97%	49.46%	40.15%	48.31%	42.47%	43.11%	42.04%	35.29%	34.26%	29.02%	28.03%	35.26%	35.23%	42.79%	51.32%	51.22%	48.27%	51.52%	35.74%	36.11%	36.11%	38.65%	41.18%	42.63%
Owner's Earnings	1,225.609M	928.593M	854.721M	590.258M	622.474M	293.551M	584.231M	574.278M	496.215M	211.004M	311.133M	263.571M	174.319M	247.233M	201.270M	140.570M	112.594M	165.491M	310.193M	382.021M	432.231M	806.917M	494.951M	284.872M	373.703M	321.921M	321.696M	316.599M	291.352M	271.450M	251.583M
Owner's Earnings Margin	14.73%	9.65%	14.37%	8.56%	28.63%	6.32%	30.00%	32.19%	28.20%	13.30%	20.82%	19.42%	13.47%	20.50%	17.48%	13.21%	9.20%	11.45%	19.89%	25.18%	31.95%	21.42%	11.65%	6.67%	7.08%	16.06%	18.32%	18.44%	19.35%	17.79%	17.15%
EPS	5.89	2.00	1.77	1.14	2.53	1.06	2.36	2.25	1.89	1.03	1.68	1.55	0.84	1.33	0.99	0.77	0.49	0.74	1.74	1.90	2.12	4.24	2.57	1.26	1.58	2.91	2.84	2.52	2.52	2.14	2.01
EPS (Diluted)	5.89	2.00	1.77	1.14	2.53	1.06	2.36	2.25	1.89	1.03	1.68	1.55	0.84	1.33	0.99	0.77	0.49	0.74	1.74	1.90	2.12	4.24	2.57	1.26	1.58	2.91	2.84	2.52	2.52	2.14	2.01
Shares (Diluted)	202,306,995	447,375,225	473,993,622	473,642,343	231,834,930	214,670,861	217,660,968	228,003,193	229,417,737	157,519,413	163,930,037	160,702,936	161,453,437	150,520,823	139,903,869	137,563,772	123,974,612	141,730,556	148,507,895	153,641,846	164,645,976	154,247,193	169,725,785	185,154,772	193,533,531	94,003,250	96,137,375	99,908,978	95,590,286	101,064,333	99,504,000

Industry Balance Sheet

Metric	MRQ	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	1995
Cash & Cash Equivalents	5,004.54M	5,698.82M	4,831.46M	5,070.92M	5,805.29M	5,747.75M	2,899.40M	2,251.32M	2,413.06M	2,227.87M	2,513.89M	2,306.48M	2,296.94M	2,702.99M	1,693.69M	1,687.81M	1,328.71M	1,440.05M	961.83M	845.71M	941.78M	890.25M	1,530.95M	2,605.32M	3,440.41M	1,118.58M	915.43M	1,251.85M	884.63M	6,465.60M	6,165.40M
Short-Term Investments	2,140.24M	-77.83M	4,346.43M	4,820.58M	8,335.92M	6,255.97M	3,552.04M	4,166.20M	3,808.30M	3,336.59M	2,395.31M	1,860.17M	2,057.59M	2,127.97M	2,186.08M	1,267.09M	698.92M	1,919.14M	1,396.29M	1,196.64M	1,264.97M	0.00M	7.78M	63.20M	70.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	7,144.78M	5,620.99M	9,177.89M	9,891.49M	14,141.21M	12,003.72M	6,451.44M	6,417.52M	6,221.36M	5,564.46M	4,909.20M	4,166.65M	4,354.53M	4,830.97M	3,879.76M	2,954.89M	2,027.62M	3,359.19M	2,358.12M	2,042.35M	2,206.75M	890.25M	1,538.72M	2,668.52M	3,510.45M	1,118.58M	915.43M	1,251.85M	884.63M	6,465.60M	6,165.40M
Net Receivables	234.70M	531.56M	412.29M	624.00M	274.15M	497.03M	359.29M	151.25M	142.62M	169.87M	204.32M	185.99M	152.29M	227.42M	112.17M	310.51M	127.44M	222.94M	171.04M	99.15M	173.73M	4.13M	46.99M	15.12M	62.13M	30.76M	30.86M	114.16M	5.47M	21.22M	24.78M
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
Other Current Assets	0.00M	11.31M	0.27M	28.07M	39.54M	46.05M	59.40M	6.61M	8.87M	19.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	7,379.48M	6,163.86M	9,590.45M	10,543.56M	14,454.91M	12,546.80M	6,870.13M	6,575.38M	6,372.85M	5,754.29M	5,113.52M	4,352.64M	4,506.82M	5,058.39M	3,991.93M	3,265.40M	2,155.06M	3,582.13M	2,529.16M	2,141.50M	2,380.48M	894.39M	1,585.72M	2,683.64M	3,572.58M	1,149.34M	946.29M	1,366.01M	890.10M	6,486.82M	6,190.18M
Property, Plant & Equipment	614.51M	544.02M	538.88M	525.66M	448.47M	492.50M	434.38M	391.57M	379.04M	356.00M	328.79M	314.26M	307.87M	295.51M	250.26M	214.83M	225.54M	249.10M	238.07M	221.66M	225.26M	236.20M	224.99M	231.11M	233.04M	270.31M	270.94M	331.80M	278.18M	738.63M	638.77M
Goodwill	385.32M	341.25M	340.77M	305.83M	297.85M	368.31M	372.35M	548.11M	374.83M	361.53M	360.81M	353.00M	379.41M	373.51M	229.35M	195.48M	153.93M	128.41M	131.36M	5.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	261.16M	232.84M	266.41M	281.12M	144.57M	349.76M	128.54M	118.10M	109.34M	106.41M	103.65M	101.45M	97.82M	84.66M	62.13M	69.71M	35.24M	32.93M	46.43M	46.02M	53.93M	4.69M	3.02M	5.27M	5.50M	7.80M	5.93M	88.11M	0.00M	2.12M	2.08M
Long-Term Investments	23,980.48M	18,198.51M	17,548.33M	19,808.34M	17,617.09M	17,693.17M	13,450.39M	13,349.79M	12,502.54M	11,758.06M	10,233.35M	9,742.48M	9,504.73M	10,504.93M	13,447.31M	14,436.41M	14,817.63M	17,582.03M	17,509.24M	16,064.88M	15,952.62M	30,138.57M	23,310.05M	23,056.49M	32,005.09M	20,478.50M	17,122.80M	14,731.66M	12,318.90M	16,119.14M	14,201.02M
Tax Assets	0.07M	103.75M	57.66M	211.50M	85.63M	116.25M	207.72M	78.36M	33.32M	36.54M	10.54M	9.56M	5.82M	6.48M	0.00M	0.00M	0.00M	0.00M	0.00M	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	3,275.48M	21,946.87M	13,411.64M	3,451.36M	1,911.82M	8,035.97M	1,529.75M	9,230.75M	6,570.47M	6,145.83M	1,608.56M	6,921.09M	7,868.01M	481.24M	179.84M	-73.79M	-751.43M	-577.03M	-660.20M	-249.06M	-141.05M	-23,457.34M	531.91M	674.31M	-21,910.28M	771.71M	697.94M	766.84M	569.95M	663.48M	842.78M
Other Assets	733.20M	0.00M	413.15M	229.10M	1,354.63M	1,369.74M	1,270.14M	986.96M	1,163.66M	1,018.56M	1,130.36M	1,566.73M	1,580.97M	9,312.85M	3,207.89M	2,374.65M	2,309.78M	6,668.41M	6,364.50M	6,481.80M	6,154.11M	1,573.15M	1,639.78M	31,633.53M	37,405.47M	5.34M	1.87M	0.00M	2,104.01M	13,316.31M	11,445.51M
Total Non-Current Assets	29,250.22M	41,367.24M	32,576.84M	24,812.91M	21,860.06M	28,425.70M	17,393.28M	24,703.65M	21,133.19M	19,782.93M	13,776.06M	19,008.56M	19,744.63M	21,059.18M	17,376.77M	17,217.28M	16,790.69M	24,083.84M	23,629.40M	22,570.81M	22,244.87M	8,495.28M	25,709.76M	55,600.71M	47,738.83M	21,533.66M	18,099.48M	15,918.41M	15,271.03M	30,839.69M	27,130.16M
Total Assets	36,629.70M	47,531.10M	42,167.28M	35,356.47M	36,314.98M	40,972.50M	24,263.41M	31,279.02M	27,506.04M	25,537.22M	18,889.58M	23,361.20M	24,251.45M	26,117.57M	21,368.70M	20,482.67M	18,945.75M	27,665.97M	26,158.56M	24,712.30M	24,625.36M	9,389.66M	27,295.47M	58,284.36M	51,311.41M	22,683.00M	19,045.77M	17,284.41M	16,161.13M	37,326.51M	33,320.34M
Accounts Payable	0.79M	79.75M	62.35M	103.74M	40.21M	31.18M	13.47M	10.44M	6.77M	13.33M	8.35M	7.79M	6.68M	6.08M	4.57M	13.57M	10.43M	35.39M	99.64M	40.87M	0.47M	0.00M	0.00M	1.12M	2.35M	2.94M	2.41M	2.77M	0.00M	0.78M	0.64M
Short-Term Debt	1,316.23M	988.73M	1,074.26M	1,311.49M	393.83M	949.34M	550.67M	579.53M	348.49M	234.81M	107.80M	59.11M	108.09M	149.23M	78.42M	96.12M	126.85M	420.09M	621.24M	147.58M	251.97M	1,256.92M	663.62M	1,032.72M	872.73M	1,479.26M	1,438.81M	2,981.24M	2,121.15M	7,873.54M	6,247.21M
Tax Payables	0.00M	12.53M	15.47M	19.40M	18.95M	9.37M	9.65M	6.99M	9.29M	6.71M	5.17M	6.07M	6.16M	8.73M	2.88M	2.29M	5.28M	0.50M	12.21M	9.61M	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
Other Current Liabilities	12,203.47M	22,686.94M	18,952.79M	15,268.60M	13,465.17M	13,391.78M	10,469.73M	7,808.58M	7,251.55M	6,233.04M	6,191.80M	5,450.54M	4,890.54M	4,185.08M	6,526.91M	5,714.46M	5,681.14M	7,251.60M	7,062.74M	6,459.56M	6,372.53M	7,858.56M	6,887.81M	6,697.24M	7,515.15M	7,592.91M	7,181.73M	8,601.98M	6,749.96M	8,092.18M	7,797.50M
Total Current Liabilities	13,520.48M	23,767.95M	20,104.87M	16,703.22M	13,918.16M	14,381.67M	11,043.51M	8,405.55M	7,616.11M	6,487.89M	6,313.13M	5,523.51M	5,011.47M	4,349.12M	6,612.78M	5,826.45M	5,823.69M	7,707.58M	7,795.83M	6,657.61M	6,624.97M	9,115.48M	7,551.43M	7,731.09M	8,390.23M	9,075.11M	8,622.94M	11,585.98M	8,871.11M	15,966.50M	14,045.35M
Long-Term Debt	9,648.80M	7,386.68M	7,800.84M	6,921.16M	4,337.20M	6,744.40M	3,027.53M	3,753.52M	3,421.43M	2,643.04M	2,826.36M	2,892.17M	2,339.36M	2,794.12M	2,491.44M	2,451.00M	2,494.75M	4,231.12M	2,657.31M	3,140.43M	3,100.21M	3,314.40M	2,817.46M	2,586.90M	2,779.57M	2,732.38M	2,927.87M	2,248.19M	1,582.08M	1,763.34M	1,555.96M
Capital Lease Obligations	0.00M	0.00M	42.39M	60.27M	55.53M	85.08M	69.75M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	4.20M	4.09M	0.00M	2.10M	2.04M	4.58M	8.53M	0.22M	0.00M	0.00M	3.92M	0.00M	0.00M	0.00M	0.00M	0.00M	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	1,941.53M	21,622.25M	4,053.73M	8,367.81M	848.96M	8,624.31M	229.16M	13,048.06M	977.77M	702.48M	876.93M	496.50M	517.56M	213.84M	-230.65M	296.53M	218.74M	548.34M	430.74M	381.47M	367.84M	61.49M	-15.17M	11.96M	-1,072.17M	244.40M	226.29M	254.92M	157.17M	181.76M	144.56M
Total Non-Current Liabilities	11,590.32M	29,008.93M	11,896.97M	15,353.43M	5,245.78M	15,453.79M	3,328.54M	16,803.62M	4,403.78M	3,354.04M	3,703.51M	3,388.68M	2,856.93M	3,011.89M	2,260.79M	2,747.53M	2,713.49M	4,779.46M	3,088.04M	3,521.90M	3,468.05M	3,375.89M	2,802.30M	2,598.86M	1,707.40M	2,976.78M	3,154.16M	2,503.12M	1,739.25M	1,945.10M	1,700.52M
Total Liabilities	25,110.80M	52,776.88M	32,001.83M	32,056.66M	19,163.94M	29,835.46M	14,372.05M	25,209.17M	12,019.88M	9,841.93M	10,016.64M	8,912.18M	7,868.40M	7,361.01M	8,873.57M	8,573.98M	8,537.18M	12,487.04M	10,883.87M	10,179.51M	10,093.02M	12,491.37M	10,353.73M	10,329.95M	10,097.63M	12,051.89M	11,777.10M	14,089.10M	10,610.36M	17,911.60M	15,745.87M
Preferred Stock	100.62M	14.67M	109.01M	83.01M	57.18M	89.45M	10.75M	11.15M	11.15M	10.75M	2.54M	2.13M	2.21M	1.95M	0.00M	0.00M	0.00M	1.89M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	28.57M	28.57M	33.33M	83.33M	70.00M	20.00M
Common Stock	678.22M	644.52M	654.12M	643.51M	635.25M	820.44M	759.26M	381.85M	1,152.17M	1,192.94M	1,191.48M	1,158.07M	1,075.89M	981.35M	211.52M	212.51M	198.35M	536.31M	512.12M	566.88M	611.94M	586.65M	412.86M	440.24M	556.42M	577.91M	420.20M	477.77M	0.00M	0.00M	0.00M
Retained Earnings	11,529.66M	4,145.71M	8,491.33M	8,093.41M	3,341.80M	2,720.52M	1,621.91M	1,636.41M	1,934.29M	852.86M	764.90M	627.81M	521.41M	439.54M	364.60M	562.82M	460.01M	1,234.47M	1,568.34M	1,631.24M	1,160.15M	1,261.73M	1,025.22M	1,083.14M	1,181.69M	1,188.42M	972.40M	941.20M	796.19M	1,442.72M	1,317.33M
Accumulated OCI	-478.31M	182.29M	304.40M	-296.52M	306.32M	313.47M	248.15M	-36.81M	-10.76M	-20.76M	-1.94M	-32.21M	-41.30M	-25.11M	-10.40M	-1.97M	-6.43M	-6.51M	3.61M	-8.76M	-6.82M	47.11M	225.68M	578.10M	295.54M	29.07M	9.69M	22.78M	0.52M	-0.24M	3.94M
Minority Interest	36.71M	44.24M	12.48M	10.80M	3.82M	5.92M	2.41M	2.24M	1.39M	4.06M	7.29M	44.15M	36.75M	33.78M	12.57M	11.80M	11.07M	9.08M	6.30M	9.11M	6.34M	19.63M	19.03M	147.37M	31.11M	34.42M	37.31M	43.14M	0.00M	399.99M	210.54M
Total Shareholders’ Equity	11,830.19M	4,987.20M	9,558.85M	8,523.40M	4,340.56M	3,943.88M	2,640.08M	1,992.60M	3,086.84M	2,035.79M	1,956.98M	1,755.80M	1,558.22M	1,397.72M	565.73M	773.37M	651.93M	1,766.16M	2,084.07M	2,189.37M	1,765.27M	1,895.49M	1,663.76M	2,101.48M	2,033.64M	1,823.98M	1,430.86M	1,475.09M	880.04M	1,512.48M	1,341.27M
Total Equity	11,866.90M	5,031.44M	9,571.34M	8,534.21M	4,344.37M	3,949.81M	2,642.49M	1,994.84M	3,088.22M	2,039.85M	1,964.28M	1,799.95M	1,594.97M	1,431.50M	578.30M	785.16M	663.00M	1,775.25M	2,090.37M	2,198.48M	1,771.61M	1,915.12M	1,682.79M	2,248.85M	2,064.75M	1,858.40M	1,468.17M	1,518.22M	880.04M	1,912.47M	1,551.81M
Total Liabilities & Equity	36,977.70M	57,808.32M	41,573.17M	40,590.86M	23,508.31M	33,785.27M	17,014.54M	27,204.01M	15,108.11M	11,881.78M	11,980.92M	10,712.14M	9,463.36M	8,792.51M	9,451.87M	9,359.14M	9,200.18M	14,262.29M	12,974.24M	12,377.99M	11,864.63M	14,406.50M	12,036.52M	12,578.81M	12,162.38M	13,910.28M	13,245.27M	15,607.32M	11,490.40M	19,824.07M	17,297.68M
Tangible Assets	35,983.21M	46,957.01M	41,560.11M	34,769.52M	35,872.55M	40,254.43M	23,762.52M	30,612.82M	27,021.87M	25,069.29M	18,425.13M	22,906.75M	23,774.22M	25,659.40M	21,077.23M	20,217.49M	18,756.58M	27,504.63M	25,980.77M	24,660.78M	24,571.43M	9,384.97M	27,292.46M	58,279.08M	51,305.91M	22,675.20M	19,039.84M	17,196.30M	16,161.13M	37,324.39M	33,318.26M
Tangible Equity	11,220.41M	4,457.35M	8,964.16M	7,947.26M	3,901.95M	3,231.74M	2,141.59M	1,328.63M	2,604.06M	1,571.92M	1,499.82M	1,345.51M	1,117.74M	973.34M	286.83M	519.98M	473.83M	1,613.91M	1,912.58M	2,146.96M	1,717.68M	1,910.43M	1,679.78M	2,243.58M	2,059.25M	1,850.60M	1,462.24M	1,430.11M	880.04M	1,910.35M	1,549.73M
Tangible Book Value	11,220.41M	4,457.35M	8,964.16M	7,947.26M	3,901.95M	3,231.74M	2,141.59M	1,328.63M	2,604.06M	1,571.92M	1,499.82M	1,345.51M	1,117.74M	973.34M	286.83M	519.98M	473.83M	1,613.91M	1,912.58M	2,146.96M	1,717.68M	1,910.43M	1,679.78M	2,243.58M	2,059.25M	1,850.60M	1,462.24M	1,430.11M	880.04M	1,910.35M	1,549.73M
Total Investments	27,922.95M	20,664.37M	20,407.40M	25,092.17M	21,732.78M	22,375.75M	14,861.36M	15,190.49M	14,413.51M	13,208.02M	11,140.68M	10,333.20M	10,097.71M	11,777.51M	14,651.47M	15,456.58M	15,907.98M	19,589.33M	19,094.45M	17,172.86M	17,124.68M	30,138.57M	23,317.83M	23,119.70M	32,075.13M	20,478.50M	17,122.80M	14,731.66M	12,318.90M	16,119.14M	14,201.02M
Net Debt	5,960.49M	2,676.59M	4,043.64M	3,161.73M	-1,074.26M	1,945.98M	678.79M	2,081.73M	1,356.87M	649.97M	420.27M	644.80M	150.52M	240.36M	876.18M	859.31M	1,292.89M	3,211.16M	2,316.71M	2,442.30M	2,410.40M	3,681.06M	1,950.14M	1,014.31M	211.89M	3,093.06M	3,451.25M	3,977.58M	2,818.60M	3,171.28M	1,637.77M

Industry Capital

Metric	MRQ	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	1995
Working Capital	-15,127.43M	-17,975.10M	-12,707.44M	-8,195.91M	-1,087.83M	-5,214.52M	-2,658.55M	-8,033.36M	-6,248.03M	-5,821.95M	-4,667.73M	-3,342.97M	-3,008.48M	-2,349.81M	-5,420.03M	-5,788.98M	-6,774.46M	-8,304.30M	-8,528.31M	-8,660.39M	-7,781.76M	-15,127.08M	-10,687.47M	-11,311.51M	-6,911.41M	-9,684.59M	-8,783.74M	-15,876.31M	-13,720.10M	-10,062.80M	-8,306.77M
Total Capital	22,373.20M	16,993.18M	17,078.39M	17,737.63M	11,415.59M	19,122.83M	9,548.03M	8,876.17M	8,708.96M	8,007.28M	7,710.68M	6,960.79M	6,598.96M	5,682.77M	5,840.29M	5,602.70M	5,133.17M	8,145.65M	6,635.62M	7,852.65M	8,267.48M	9,288.87M	8,554.96M	9,772.75M	12,182.65M	7,340.91M	6,900.42M	6,665.18M	6,324.93M	11,697.67M	9,705.61M
Capital Employed	196,878.89M	163,291.93M	161,307.29M	157,372.99M	34,398.74M	150,246.44M	26,827.23M	21,501.70M	22,340.85M	21,667.08M	22,497.45M	22,717.46M	22,433.74M	22,257.73M	16,677.98M	13,545.48M	13,022.97M	14,604.62M	13,885.94M	12,505.64M	12,907.88M	62,911.06M	63,187.69M	58,799.39M	77,674.70M	12,318.00M	9,617.22M	4,465.59M	4,599.77M	21,037.87M	19,068.07M
Invested Capital	17,368.66M	11,294.36M	12,246.93M	12,666.71M	5,610.29M	13,375.08M	6,648.63M	6,624.84M	6,295.90M	5,779.41M	5,196.79M	4,654.32M	4,302.03M	2,979.78M	4,146.60M	3,914.89M	3,804.46M	6,705.60M	5,673.79M	7,006.94M	7,325.70M	8,398.62M	7,024.01M	7,167.43M	8,742.24M	6,222.33M	5,984.99M	5,413.33M	5,440.30M	5,232.06M	3,540.20M

Industry Cash Flow Statement

Metric	TTM	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	1995
Depreciation & Amortization	149.39M	61.65M	67.92M	78.91M	62.68M	126.06M	84.70M	74.18M	68.74M	49.22M	49.66M	45.00M	52.97M	69.70M	55.43M	44.39M	65.25M	46.31M	51.29M	91.43M	88.45M	162.15M	58.85M	55.39M	76.68M	56.11M	57.42M	64.42M	50.20M	54.75M	51.78M
Deferred Income Tax	2.78M	0.00M	-5.20M	-8.64M	7.66M	-16.60M	-3.59M	0.77M	6.49M	-1.79M	-6.90M	1.44M	-2.07M	2.07M	13.17M	-4.65M	-4.85M	-0.91M	-12.50M	1.39M	-0.89M	-0.92M	0.17M	-0.60M	0.37M	-0.27M	-0.08M	-0.26M	-0.26M	-0.27M	0.00M
Stock-Based Compensation	8.81M	7.74M	10.52M	17.71M	9.24M	9.91M	11.77M	9.67M	8.98M	6.70M	6.44M	5.95M	7.07M	8.56M	0.03M	0.00M	0.02M	0.00M	0.37M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-199.22M	-62.33M	-364.55M	96.64M	-88.77M	644.60M	-214.64M	78.14M	-144.48M	98.41M	58.44M	-269.67M	26.64M	276.43M	327.22M	154.39M	-296.24M	20.54M	224.42M	-188.81M	-150.04M	60.81M	-61.12M	-0.02M	-56.51M	-20.85M	34.75M	-115.56M	56.33M	-14.96M	-9.22M
Accounts Receivable	-4.59M	0.05M	-0.42M	-3.68M	0.00M	0.00M	0.00M	0.00M	-0.73M	0.00M	0.01M	0.00M	0.00M	0.00M	0.36M	2.50M	6.95M	7.31M	0.16M	-0.89M	-0.22M	-0.08M	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
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
Other Working Capital	-134.10M	-66.06M	-356.98M	289.83M	-95.62M	682.11M	-92.29M	-215.39M	-330.44M	-271.97M	100.06M	-243.17M	-230.39M	66.29M	251.81M	185.81M	-284.80M	-15.41M	209.76M	-224.26M	-284.44M	23.18M	-58.88M	-65.57M	-1.58M	-20.86M	37.51M	3.71M	60.07M	-13.80M	-1.67M
Other Non-Cash Items	492.00M	214.49M	805.45M	287.08M	-88.51M	424.50M	393.89M	-25.70M	72.64M	-50.87M	87.52M	-3.95M	40.56M	0.29M	-31.72M	78.63M	288.28M	245.75M	75.07M	308.78M	295.01M	-22.50M	202.27M	145.42M	154.44M	76.20M	65.81M	57.09M	34.37M	231.38M	56.62M
Net Cash from Operating Activities	903.70M	478.58M	330.58M	601.00M	442.55M	832.99M	400.39M	401.05M	390.32M	272.33M	421.19M	-80.36M	307.30M	351.11M	633.19M	406.81M	137.09M	461.86M	470.23M	453.01M	631.17M	669.78M	248.54M	381.92M	319.62M	235.07M	234.38M	258.65M	304.42M	504.10M	117.23M
Capital Expenditures (PPE)	-58.38M	-72.14M	-72.15M	-69.67M	-62.26M	-66.25M	-59.28M	-51.23M	-61.40M	-68.51M	-53.23M	-61.10M	-55.99M	-32.57M	-36.83M	-29.76M	-37.77M	-72.79M	-40.32M	-38.88M	-40.60M	-48.92M	-22.81M	-35.87M	-38.12M	-37.62M	-38.41M	-55.92M	-51.84M	-44.10M	-33.28M
Acquisitions (Net)	0.00M	0.00M	-2.51M	56.88M	-22.40M	18.38M	-81.39M	0.24M	0.04M	-5.84M	0.64M	-1.41M	-1.39M	-0.20M	8.51M	4.02M	11.06M	-6.83M	-21.67M	-1.21M	-12.14M	1.08M	3.62M	4.21M	12.29M	8.63M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-857.37M	-974.76M	-554.49M	-2,387.07M	-2,293.31M	-1,829.89M	-689.38M	-1,164.64M	-916.27M	-742.49M	-659.79M	-533.71M	-381.92M	-604.21M	-752.58M	-1,598.70M	-1,330.68M	-1,585.50M	-1,507.06M	-1,185.54M	-520.56M	-1,932.67M	-3,634.52M	-3,710.84M	-3,429.79M	-2,544.72M	-2,443.12M	-2,499.02M	-22,695.24M	-12,043.07M	-4,904.52M
Sales / Maturities of Investments	886.27M	1,071.15M	939.16M	3,648.69M	1,718.30M	1,566.37M	1,421.49M	1,119.25M	1,013.04M	644.65M	383.05M	507.55M	486.44M	493.72M	821.34M	705.59M	1,723.43M	1,297.00M	1,032.00M	1,050.60M	447.34M	1,863.72M	3,992.96M	10,054.11M	5,873.97M	2,515.82M	2,236.63M	3,298.48M	22,524.53M	12,468.10M	4,962.32M
Other Investing Activities	-185.41M	-611.99M	-497.22M	-1,369.10M	-104.76M	-699.44M	-202.45M	-377.80M	-271.05M	-179.01M	-290.03M	-228.77M	-275.72M	-407.85M	-70.08M	354.85M	603.62M	12.49M	46.34M	-153.49M	-738.12M	-479.30M	-256.23M	-715.14M	-854.24M	-716.20M	-868.09M	-1,112.36M	-1,192.56M	-1,134.05M	-1,079.70M
Net Cash from Investing Activities	-442.69M	-644.64M	-609.82M	-1,463.09M	-1,606.55M	-3,439.08M	-188.92M	-839.74M	-1,126.71M	-1,077.90M	-766.93M	-390.19M	-315.26M	-635.80M	-240.80M	-223.90M	971.35M	-1,130.60M	-1,485.78M	-937.22M	-1,171.39M	-1,497.21M	-818.17M	-1,273.11M	-328.89M	-1,129.56M	-1,149.55M	-1,131.09M	-1,252.40M	-646.60M	-925.05M
Net Debt Issuance	-263.13M	183.05M	-281.14M	912.17M	96.98M	44.46M	4.89M	281.43M	57.41M	107.36M	49.50M	59.78M	-124.40M	52.72M	2.43M	13.47M	-327.14M	-98.85M	200.03M	52.01M	2.09M	30.29M	530.61M	271.15M	-941.73M	94.91M	901.54M	-5.45M	351.40M	10.32M	379.00M
Long-Term Debt Issuance	-96.89M	186.14M	39.86M	132.51M	-54.76M	6.50M	52.86M	208.57M	16.29M	89.74M	30.44M	35.39M	-75.16M	59.39M	23.56M	17.21M	-180.00M	54.42M	142.87M	34.92M	-0.16M	16.14M	124.02M	-33.66M	589.50M	-164.07M	164.82M	-37.04M	103.20M	63.00M	127.88M
Short-Term Debt Issuance	-596.65M	-68.65M	-92.86M	63.06M	0.00M	0.00M	0.00M	0.00M	0.09M	0.00M	-0.60M	0.00M	0.00M	0.00M	-2.47M	36.84M	-110.36M	-230.78M	47.50M	15.70M	3.38M	21.68M	163.84M	87.34M	-640.77M	136.68M	365.07M	115.24M	110.96M	-44.42M	201.38M
Net Stock Issuance	-212.21M	-115.53M	-12.04M	-154.10M	-237.55M	-17.59M	-242.97M	-173.34M	-100.53M	-36.36M	-40.87M	1.31M	-5.40M	-1.90M	-0.85M	212.50M	18.83M	41.43M	-47.42M	0.66M	0.00M	-80.84M	-5.48M	-80.17M	-6.84M	-1.47M	-9.76M	1.86M	-39.13M	-8.02M	-5.83M
Common Stock Issuance	6.55M	3.85M	4.00M	3.34M	11.26M	2.94M	12.05M	8.02M	8.47M	17.99M	16.94M	8.85M	8.22M	3.04M	2.18M	310.65M	108.13M	5.18M	17.08M	23.79M	26.37M	4.82M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-223.11M	-240.26M	-17.44M	-288.29M	-236.36M	-59.83M	-259.79M	-189.82M	-132.59M	-52.78M	-44.11M	-7.22M	-74.55M	-61.49M	-33.28M	-3.39M	-2.54M	-7.39M	-80.93M	-24.05M	-3.55M	-86.97M	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	2.09M	0.00M	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	-395.01M	-528.13M	-496.04M	-489.52M	-151.36M	-228.87M	-202.45M	-125.06M	-160.13M	-70.77M	-61.62M	-50.18M	-60.12M	-50.74M	-39.68M	-48.67M	-47.54M	-103.69M	-114.50M	-113.10M	-118.15M	-133.71M	-52.98M	-67.61M	-37.60M	-40.17M	-36.09M	-82.64M	-68.83M	-71.65M	-63.32M
Common Dividends Paid	-393.42M	-523.76M	-495.08M	-488.52M	-146.05M	-228.55M	-202.45M	-125.06M	-160.13M	-70.77M	-61.60M	-50.15M	-60.07M	-45.69M	-39.68M	-46.67M	-29.10M	-108.04M	-118.74M	-117.40M	-118.15M	-133.71M	-52.98M	-65.76M	-37.60M	-40.17M	-36.09M	-82.64M	-68.83M	-71.65M	-63.32M
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
Other Financing Activities	772.56M	472.66M	646.66M	-707.14M	1,182.94M	3,720.40M	943.94M	740.55M	257.78M	1,035.09M	898.79M	704.91M	614.86M	964.12M	375.49M	-58.25M	-384.05M	-2.86M	684.47M	736.92M	458.83M	289.25M	125.30M	630.57M	583.37M	514.74M	43.21M	951.53M	585.03M	511.42M	425.47M
Net Cash from Financing Activities	-15.03M	366.24M	-246.02M	-92.71M	894.51M	3,498.65M	-7.69M	507.15M	828.10M	960.43M	561.33M	507.91M	33.91M	519.77M	180.29M	135.30M	-788.64M	-173.90M	659.39M	158.09M	697.82M	281.51M	681.44M	643.67M	-51.20M	1,011.60M	850.58M	1,023.52M	1,053.68M	567.38M	746.27M
Effect of FX on Cash	32.38M	2.12M	-46.71M	-0.02M	-0.03M	7.98M	-0.11M	0.00M	-0.02M	0.00M	0.01M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.03M	3.14M	-0.37M	-5.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.60M	0.00M	0.00M
Net Change in Cash	-104.94M	4.17M	-292.57M	483.05M	235.23M	1,247.45M	324.26M	79.81M	33.73M	94.43M	611.06M	-74.11M	45.62M	367.37M	426.87M	-82.73M	439.92M	67.66M	521.36M	153.30M	258.45M	22.29M	-138.09M	-10.92M	85.14M	143.67M	-11.00M	52.51M	191.12M	-150.04M	-147.82M
Cash at Beginning of Period	1,486.91M	3,292.30M	3,422.97M	3,833.53M	3,987.04M	3,455.10M	1,966.26M	2,160.91M	2,101.50M	2,127.38M	1,861.32M	1,966.72M	1,649.21M	1,401.02M	1,741.93M	1,752.78M	1,296.70M	1,157.52M	1,369.65M	999.45M	815.90M	1,007.29M	908.68M	954.18M	1,088.57M	784.50M	816.79M	1,100.32M	642.23M	756.81M	648.22M
Cash at End of Period	6,401.02M	4,807.88M	3,681.31M	3,489.66M	3,415.87M	4,532.38M	2,735.94M	2,034.11M	2,162.37M	2,035.75M	2,122.45M	1,861.46M	2,037.39M	1,963.07M	1,499.56M	2,110.37M	1,883.61M	1,250.74M	1,282.06M	1,370.33M	1,108.76M	1,022.63M	730.39M	1,013.63M	1,126.76M	957.79M	783.48M	1,261.71M	1,039.03M	1,247.07M	726.97M
Operating Cash Flow	903.84M	478.58M	548.90M	601.00M	442.55M	832.99M	400.39M	401.05M	390.32M	328.34M	421.19M	-80.36M	307.30M	351.11M	633.19M	406.81M	137.09M	461.86M	470.23M	453.01M	631.17M	669.78M	248.54M	381.92M	319.62M	235.07M	234.38M	258.65M	304.42M	504.10M	117.23M
Capital Expenditure	-55.80M	-101.45M	-104.68M	-92.02M	-69.23M	-72.81M	-64.53M	-54.01M	-61.40M	-71.45M	-48.99M	-61.10M	-75.69M	-32.66M	-36.91M	-33.11M	-37.63M	-66.36M	-45.28M	-38.28M	-40.60M	-48.38M	-20.34M	-35.87M	-38.12M	-37.62M	-38.41M	-55.92M	-51.84M	-44.10M	-33.28M
Free Cash Flow	811.95M	430.88M	227.94M	549.09M	402.35M	785.50M	357.18M	348.39M	314.04M	294.53M	387.10M	-120.60M	262.28M	329.01M	607.08M	380.81M	123.34M	399.22M	428.23M	410.17M	607.15M	614.02M	226.67M	331.13M	275.55M	190.02M	196.32M	154.73M	271.32M	468.97M	101.88M

Industry Free Cash Flow

Metric	TTM	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	1995
EBITDA	1,079.46M	440.74M	332.39M	588.00M	585.82M	283.54M	644.26M	647.81M	517.65M	326.37M	266.06M	202.29M	120.64M	319.43M	306.64M	207.87M	201.74M	160.12M	448.62M	501.11M	497.79M	1,103.23M	999.49M	724.70M	954.44M	523.73M	518.08M	491.32M	505.19M	432.25M	392.53M
(-) Tax Adjustment	237.32M	85.30M	66.06M	152.56M	112.25M	61.28M	155.97M	115.51M	128.73M	143.89M	56.22M	60.55M	31.40M	73.40M	102.79M	62.47M	41.60M	42.03M	126.10M	152.32M	132.60M	313.49M	313.99M	180.47M	165.72M	178.59M	176.21M	167.48M	167.17M	141.17M	132.52M
(-) Change In Working Capital	-199.22M	-62.33M	-364.55M	96.64M	-88.77M	644.60M	-214.64M	78.14M	-144.48M	98.41M	58.44M	-269.67M	26.64M	276.43M	327.22M	154.39M	-296.24M	20.54M	224.42M	-188.81M	-150.04M	60.81M	-61.12M	-0.02M	-56.51M	-20.85M	34.75M	-115.56M	56.33M	-14.96M	-9.22M
(-) Capital Expenditure	55.80M	101.45M	104.68M	92.02M	69.23M	72.81M	64.53M	54.01M	61.40M	71.45M	48.99M	61.10M	75.69M	32.66M	36.91M	33.11M	37.63M	66.36M	45.28M	38.28M	40.60M	48.38M	20.34M	35.87M	38.12M	37.62M	38.41M	55.92M	51.84M	44.10M	33.28M
Unlevered Free Cash Flow	985.55M	316.32M	526.20M	246.78M	493.10M	-495.16M	638.40M	400.15M	471.99M	12.62M	102.40M	350.31M	-13.09M	-63.07M	-160.28M	-42.10M	418.75M	31.20M	52.81M	499.31M	474.64M	680.55M	726.28M	508.37M	807.11M	328.37M	268.70M	383.49M	229.85M	261.93M	235.95M
(-) Net Interest Income After Taxes	698.73M	581.17M	580.77M	597.67M	514.84M	501.38M	394.03M	421.58M	349.54M	230.49M	318.72M	217.99M	289.75M	388.18M	305.51M	362.98M	372.57M	451.03M	420.30M	383.33M	448.72M	419.69M	253.96M	327.05M	647.94M	558.18M	514.24M	502.62M	381.82M	484.02M	428.63M
Net Debt Issuance	-263.13M	183.05M	-281.14M	912.17M	96.98M	44.46M	4.89M	281.43M	57.41M	107.36M	49.50M	59.78M	-124.40M	52.72M	2.43M	13.47M	-327.14M	-98.85M	200.03M	52.01M	2.09M	30.29M	530.61M	271.15M	-941.73M	94.91M	901.54M	-5.45M	351.40M	10.32M	379.00M
Levered Free Cash Flow	23.69M	-81.80M	-335.71M	561.28M	75.24M	-952.08M	249.26M	260.00M	179.86M	-110.51M	-166.81M	192.10M	-427.25M	-398.53M	-463.36M	-391.61M	-280.96M	-518.68M	-167.46M	167.99M	28.00M	291.16M	1,002.93M	452.48M	-782.56M	-134.89M	656.00M	-124.58M	199.43M	-211.77M	186.32M