Atlantic American Corporation (AAME)

Analysis: Margins & Ratios Industry: Insurance - Life Sector: Financial Services Live Price: $2.90

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	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	187,623,667	191,554,600	185,463,300	170,091,467	156,206,200	153,880,600	144,311,933	208,218,000	185,929,000	188,227,000	186,793,000	187,851,000	199,554,000	195,348,000	198,179,000	185,553,000	181,114,000	166,077,000	165,937,000	166,321,000	165,369,000	139,828,000	118,332,000	106,889,000	102,710,000	99,731,000	122,972,000	125,358,000	121,981,000	125,778,000	111,302,000	170,245,000	163,308,000	152,258,000	124,321,000	106,066,000	101,215,000	99,071,000	51,670,000
Cost of Revenue	170,884,667	171,706,200	166,847,900	155,929,000	140,919,700	139,525,440	129,640,400	133,739,000	162,717,000	173,861,000	168,624,000	170,169,000	179,190,000	166,687,000	184,702,000	171,692,000	160,961,000	147,994,000	144,599,000	147,118,000	140,928,000	154,771,000	132,686,000	94,953,000	89,163,000	87,646,000	91,364,000	101,864,000	109,422,000	126,711,000	111,647,000	152,866,000	144,213,000	134,305,000	107,875,000	88,005,000	84,018,000	81,240,000	39,938,000
Cost of Revenue Margin	91.08%	89.67%	89.92%	92.30%	90.22%	90.87%	89.46%	64.23%	87.52%	92.37%	90.27%	90.59%	89.80%	85.33%	93.20%	92.53%	88.87%	89.11%	87.14%	88.45%	85.22%	110.69%	112.13%	88.83%	86.81%	87.88%	74.30%	81.26%	89.70%	100.74%	100.31%	89.79%	88.31%	88.21%	86.77%	82.97%	83.01%	82.00%	77.29%
Gross Profit	16,739,000	19,848,400	18,615,400	14,162,467	15,286,500	14,355,160	14,671,533	74,479,000	23,212,000	14,366,000	18,169,000	17,682,000	20,364,000	28,661,000	13,477,000	13,861,000	20,153,000	18,083,000	21,338,000	19,203,000	24,441,000	-14,943,000	-14,354,000	11,936,000	13,547,000	12,085,000	31,608,000	23,494,000	12,559,000	-933,000	-345,000	17,379,000	19,095,000	17,953,000	16,446,000	18,061,000	17,197,000	17,831,000	11,732,000
Gross Profit Margin	8.92%	10.33%	10.08%	7.70%	9.78%	9.13%	10.54%	35.77%	12.48%	7.63%	9.73%	9.41%	10.20%	14.67%	6.80%	7.47%	11.13%	10.89%	12.86%	11.55%	14.78%	-10.69%	-12.13%	11.17%	13.19%	12.12%	25.70%	18.74%	10.30%	-0.74%	-0.31%	10.21%	11.69%	11.79%	13.23%	17.03%	16.99%	18.00%	22.71%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
SG&A Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses	17,983,333	16,434,000	15,587,200	10,468,467	11,092,700	9,967,160	7,720,233	14,923,000	31,268,000	19,630,000	18,734,000	15,586,000	15,062,000	13,158,000	13,884,000	14,832,000	14,797,000	14,559,000	15,630,000	14,299,000	13,235,000	-20,025,000	-17,669,000	11,315,000	12,197,000	13,077,000	12,510,000	13,870,000	13,173,000	-8,623,000	-6,367,000	14,276,000	14,842,000	13,197,000	12,524,000	9,358,000	-58,118,000	10,016,000	8,648,000
Operating Expenses Margin	9.59%	8.61%	8.44%	5.49%	6.97%	6.12%	4.71%	7.17%	16.82%	10.43%	10.03%	8.30%	7.55%	6.74%	7.01%	7.99%	8.17%	8.77%	9.42%	8.60%	8.00%	-14.32%	-14.93%	10.59%	11.88%	13.11%	10.17%	11.06%	10.80%	-6.86%	-5.72%	8.39%	9.09%	8.67%	10.07%	8.82%	-57.42%	10.11%	16.74%
Operating Income (EBIT)	-1,244,333	3,414,400	3,028,200	3,694,000	4,193,800	4,388,000	6,951,300	59,556,000	-8,056,000	-5,264,000	-565,000	2,096,000	5,302,000	15,503,000	-407,000	-971,000	5,356,000	3,524,000	5,708,000	4,904,000	11,206,000	5,082,000	3,315,000	621,000	1,350,000	-992,000	19,098,000	9,624,000	-614,000	7,690,000	6,022,000	3,103,000	4,253,000	4,756,000	3,922,000	8,703,000	75,315,000	7,815,000	3,084,000
Operating Income (EBIT) Margin	-0.66%	1.72%	1.64%	2.21%	2.81%	3.01%	5.83%	28.60%	-4.33%	-2.80%	-0.30%	1.12%	2.66%	7.94%	-0.21%	-0.52%	2.96%	2.12%	3.44%	2.95%	6.78%	3.63%	2.80%	0.58%	1.31%	-0.99%	15.53%	7.68%	-0.50%	6.11%	5.41%	1.82%	2.60%	3.12%	3.15%	8.21%	74.41%	7.89%	5.97%
Interest Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	2,880,000	2,327,400	2,051,800	2,124,400	2,514,800	2,667,640	2,676,867	3,154,000	3,453,000	3,419,000	3,269,000	1,952,000	1,387,000	1,610,000	2,130,000	2,037,000	1,723,000	1,562,000	1,429,000	1,607,000	1,898,000	2,632,000	2,599,000	2,612,000	2,756,000	3,298,000	4,160,000	4,605,000	3,611,000	3,071,000	3,120,000	2,562,000	3,234,000	4,408,000	2,819,000	2,146,000	2,900,000	3,292,000	2,458,000
Interest Expense Margin	1.54%	1.22%	1.11%	1.31%	1.78%	1.89%	2.09%	1.51%	1.86%	1.82%	1.75%	1.04%	0.70%	0.82%	1.07%	1.10%	0.95%	0.94%	0.86%	0.97%	1.15%	1.88%	2.20%	2.44%	2.68%	3.31%	3.38%	3.67%	2.96%	2.44%	2.80%	1.50%	1.98%	2.90%	2.27%	2.02%	2.87%	3.32%	4.76%
Net Interest Income	-2,880,000	-2,327,400	-2,051,800	-2,124,400	-2,514,800	-2,667,640	-2,676,867	-3,154,000	-3,453,000	-3,419,000	-3,269,000	-1,952,000	-1,387,000	-1,610,000	-2,130,000	-2,037,000	-1,723,000	-1,562,000	-1,429,000	-1,607,000	-1,898,000	-2,632,000	-2,599,000	-2,612,000	-2,756,000	-3,298,000	-4,160,000	-4,605,000	-3,611,000	-3,071,000	-3,120,000	-2,562,000	-3,234,000	-4,408,000	-2,819,000	-2,146,000	-2,900,000	-3,292,000	-2,458,000
Net Interest Income Margin	-1.54%	-1.22%	-1.11%	-1.31%	-1.78%	-1.89%	-2.09%	-1.51%	-1.86%	-1.82%	-1.75%	-1.04%	-0.70%	-0.82%	-1.07%	-1.10%	-0.95%	-0.94%	-0.86%	-0.97%	-1.15%	-1.88%	-2.20%	-2.44%	-2.68%	-3.31%	-3.38%	-3.67%	-2.96%	-2.44%	-2.80%	-1.50%	-1.98%	-2.90%	-2.27%	-2.02%	-2.87%	-3.32%	-4.76%
Unusual Items	2,880,000	2,327,400	2,051,800	2,124,400	2,514,800	2,667,640	4,917,367	56,145,000	4,308,000	3,419,000	3,269,000	1,952,000	1,387,000	1,610,000	2,130,000	2,037,000	1,723,000	1,562,000	1,429,000	1,607,000	1,898,000	2,632,000	2,599,000	2,612,000	2,756,000	3,298,000	4,160,000	4,605,000	3,611,000	3,071,000	3,120,000	2,562,000	3,234,000	4,408,000	2,819,000	2,146,000	70,115,000	3,292,000	2,458,000
Unusual Items Margin	1.54%	1.22%	1.11%	1.31%	1.78%	1.89%	4.30%	26.96%	2.32%	1.82%	1.75%	1.04%	0.70%	0.82%	1.07%	1.10%	0.95%	0.94%	0.86%	0.97%	1.15%	1.88%	2.20%	2.44%	2.68%	3.31%	3.38%	3.67%	2.96%	2.44%	2.80%	1.50%	1.98%	2.90%	2.27%	2.02%	69.27%	3.32%	4.76%
EBT Excluding Unusual Items	-4,124,333	1,087,000	976,400	1,569,600	1,679,000	1,720,360	-206,567	-49,580,000	-13,219,000	-8,683,000	-3,834,000	144,000	3,915,000	13,893,000	-2,537,000	-3,008,000	3,633,000	1,962,000	4,279,000	3,297,000	9,308,000	2,450,000	716,000	-1,991,000	-1,406,000	-4,290,000	14,938,000	5,019,000	-4,225,000	4,619,000	2,902,000	541,000	1,019,000	348,000	1,103,000	6,557,000	-62,015,000	4,523,000	626,000
EBT Excluding Unusual Items Margin	-2.20%	0.50%	0.53%	0.90%	1.02%	1.12%	-0.68%	-23.81%	-7.11%	-4.61%	-2.05%	0.08%	1.96%	7.11%	-1.28%	-1.62%	2.01%	1.18%	2.58%	1.98%	5.63%	1.75%	0.61%	-1.86%	-1.37%	-4.30%	12.15%	4.00%	-3.46%	3.67%	2.61%	0.32%	0.62%	0.23%	0.89%	6.18%	-61.27%	4.57%	1.21%
Pre-Tax Income	-1,244,333	3,414,400	3,028,200	3,694,000	4,193,800	4,388,000	4,710,800	6,565,000	-8,911,000	-5,264,000	-565,000	2,096,000	5,302,000	15,503,000	-407,000	-971,000	5,356,000	3,524,000	5,708,000	4,904,000	11,206,000	5,082,000	3,315,000	621,000	1,350,000	-992,000	19,098,000	9,624,000	-614,000	7,690,000	6,022,000	3,103,000	4,253,000	4,756,000	3,922,000	8,703,000	8,100,000	7,815,000	3,084,000
Pre-Tax Income Margin	-0.66%	1.72%	1.64%	2.21%	2.81%	3.01%	3.62%	3.15%	-4.79%	-2.80%	-0.30%	1.12%	2.66%	7.94%	-0.21%	-0.52%	2.96%	2.12%	3.44%	2.95%	6.78%	3.63%	2.80%	0.58%	1.31%	-0.99%	15.53%	7.68%	-0.50%	6.11%	5.41%	1.82%	2.60%	3.12%	3.15%	8.21%	8.00%	7.89%	5.97%
Income Tax Expense	-273,000	707,200	628,400	482,933	875,000	727,160	386,867	1,458,000	-2,003,000	-996,000	-394,000	571,000	1,021,000	3,334,000	-21,000	-267,000	828,000	888,000	1,320,000	474,000	184,000	646,000	25,000	-369,000	2,557,000	-526,000	7,513,000	2,458,000	-1,746,000	-149,000	-454,000	-498,000	656,000	1,124,000	-6,988,000	145,000	100,000	204,000	-34,000
Income Tax Expense Margin	-0.15%	0.36%	0.34%	0.26%	0.63%	0.51%	0.25%	0.70%	-1.08%	-0.53%	-0.21%	0.30%	0.51%	1.71%	-0.01%	-0.14%	0.46%	0.53%	0.80%	0.28%	0.11%	0.46%	0.02%	-0.35%	2.49%	-0.53%	6.11%	1.96%	-1.43%	-0.12%	-0.41%	-0.29%	0.40%	0.74%	-5.62%	0.14%	0.10%	0.21%	-0.07%
Net Income	-971,333	2,707,200	2,399,800	3,211,067	2,804,450	2,518,560	2,887,333	5,107,000	-6,908,000	-4,268,000	-171,000	1,525,000	4,281,000	12,169,000	-386,000	-704,000	4,528,000	2,636,000	4,388,000	4,430,000	11,022,000	4,436,000	3,290,000	990,000	-1,207,000	-3,883,000	7,252,000	8,936,000	-3,175,000	5,017,000	6,844,000	-12,215,000	3,597,000	3,632,000	10,910,000	8,558,000	8,000,000	3,164,000	-6,976,000
Net Income Margin	-0.52%	1.37%	1.30%	1.95%	1.73%	1.68%	1.88%	2.45%	-3.72%	-2.27%	-0.09%	0.81%	2.15%	6.23%	-0.19%	-0.38%	2.50%	1.59%	2.64%	2.66%	6.67%	3.17%	2.78%	0.93%	-1.18%	-3.89%	5.90%	7.13%	-2.60%	3.99%	6.15%	-7.17%	2.20%	2.39%	8.78%	8.07%	7.90%	3.19%	-13.50%
Depreciation and Amortization	636,000	778,200	963,400	1,478,467	2,288,950	2,772,480	2,818,800	346,000	428,000	366,000	652,000	890,000	1,003,000	980,000	996,000	987,000	1,438,000	1,205,000	1,117,000	932,000	600,000	469,000	388,000	10,154,000	323,000	10,232,000	11,227,000	871,000	949,000	1,361,000	1,138,000	17,610,000	1,680,000	1,744,000	1,435,000	1,368,000	10,800,000	1,102,000	547,000
Depreciation and Amortization Margin	0.34%	0.40%	0.52%	1.09%	1.88%	2.09%	2.25%	0.17%	0.23%	0.19%	0.35%	0.47%	0.50%	0.50%	0.50%	0.53%	0.79%	0.73%	0.67%	0.56%	0.36%	0.34%	0.33%	9.50%	0.31%	10.26%	9.13%	0.69%	0.78%	1.08%	1.02%	10.34%	1.03%	1.15%	1.15%	1.29%	10.67%	1.11%	1.06%
EBITDA	2,271,667	6,520,000	6,043,400	7,296,867	8,997,550	9,713,480	9,840,933	8,517,000	-5,030,000	-1,479,000	3,356,000	4,938,000	7,692,000	18,093,000	2,719,000	2,053,000	8,517,000	6,291,000	8,254,000	7,443,000	13,704,000	8,183,000	6,302,000	13,387,000	4,429,000	12,538,000	34,485,000	15,100,000	3,946,000	8,753,000	10,783,000	23,275,000	9,167,000	10,908,000	8,176,000	12,217,000	13,700,000	12,209,000	6,089,000
EBITDA Margin	1.21%	3.35%	3.27%	4.61%	6.47%	6.90%	7.61%	4.09%	-2.71%	-0.79%	1.80%	2.63%	3.85%	9.26%	1.37%	1.11%	4.70%	3.79%	4.97%	4.48%	8.29%	5.85%	5.33%	12.52%	4.31%	12.57%	28.04%	12.05%	3.23%	6.96%	9.69%	13.67%	5.61%	7.16%	6.58%	11.52%	13.54%	12.32%	11.78%
NOPAT	-971,333	2,707,200	2,399,800	3,211,067	3,318,800	3,660,840	6,536,773	46,329,397	-6,245,186	-4,268,000	-171,000	1,525,000	4,281,000	12,169,000	-386,000	-704,000	4,528,000	2,636,000	4,388,000	4,430,000	11,022,000	4,436,000	3,290,000	990,000	-1,207,000	-466,000	11,585,000	7,166,000	1,132,000	7,839,000	6,476,000	3,601,000	3,597,000	3,632,000	10,910,000	8,558,000	74,385,185	7,611,000	3,118,000
NOPAT Margin	-0.52%	1.37%	1.30%	1.95%	2.18%	2.49%	5.55%	22.25%	-3.36%	-2.27%	-0.09%	0.81%	2.15%	6.23%	-0.19%	-0.38%	2.50%	1.59%	2.64%	2.66%	6.67%	3.17%	2.78%	0.93%	-1.18%	-0.47%	9.42%	5.72%	0.93%	6.23%	5.82%	2.12%	2.20%	2.39%	8.78%	8.07%	73.49%	7.68%	6.03%
Owner's Earnings	-479,000	3,331,200	3,169,000	4,224,067	5,911,600	5,158,120	5,116,767	4,194,000	-6,611,000	-4,127,000	401,000	2,289,000	5,177,000	12,916,000	541,000	2,000	5,863,000	3,445,000	5,183,000	1,235,000	10,284,000	4,736,000	14,097,000	1,319,000	8,673,000	6,199,000	6,914,000	9,592,000	23,493,000	5,803,000	7,557,000	-11,743,000	4,347,000	4,757,000	11,516,000	9,532,000	8,388,000	2,650,000	-7,536,000
Owner's Earnings Margin	-0.25%	1.69%	1.72%	2.71%	4.39%	3.93%	3.76%	2.01%	-3.56%	-2.19%	0.21%	1.22%	2.59%	6.61%	0.27%	0.00%	3.24%	2.07%	3.12%	0.74%	6.22%	3.39%	11.91%	1.23%	8.44%	6.22%	5.62%	7.65%	19.26%	4.61%	6.79%	-6.90%	2.66%	3.12%	9.26%	8.99%	8.29%	2.67%	-14.58%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	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	187,623,667	191,554,600	185,463,300	170,091,467	156,206,200	153,880,600	144,311,933	188,227,000	186,793,000	187,851,000	199,554,000	195,348,000	198,179,000	185,553,000	181,114,000	166,077,000	165,937,000	166,321,000	165,369,000	139,828,000	118,332,000	106,889,000	102,710,000	99,731,000	122,972,000	125,358,000	121,981,000	125,778,000	111,302,000	170,245,000	163,308,000	152,258,000	124,321,000	106,066,000	101,215,000	99,071,000	51,670,000
Cash & Cash Equivalents	30,911,333	27,361,200	94,582,300	86,943,067	73,379,800	67,403,840	62,113,600	35,570,000	28,301,000	28,863,000	24,753,000	19,319,000	12,893,000	12,630,000	272,058,000	257,429,000	254,007,000	256,660,000	33,102,000	18,951,000	21,285,000	28,325,000	20,129,000	37,321,000	36,900,000	27,300,000	41,800,000	41,000,000	34,200,000	41,600,000	68,800,000	31,900,000	34,300,000	32,400,000	51,044,000	45,499,000	15,069,000
Cash & Cash Equivalents Margin	16.47%	14.34%	54.33%	51.71%	45.94%	42.78%	41.78%	18.90%	15.15%	15.36%	12.40%	9.89%	6.51%	6.81%	150.21%	155.01%	153.07%	154.32%	20.02%	13.55%	17.99%	26.50%	19.60%	37.42%	30.01%	21.78%	34.27%	32.60%	30.73%	24.44%	42.13%	20.95%	27.59%	30.55%	50.43%	45.93%	29.16%
Short-Term Investments	82,024,000	152,232,800	120,402,200	80,268,133	60,201,100	48,160,880	40,134,067	0	37,343,000	208,729,000	260,986,000	254,106,000	232,472,000	210,386,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Investments Margin	43.70%	78.39%	62.27%	41.51%	31.13%	24.91%	20.76%	0.00%	19.99%	111.11%	130.78%	130.08%	117.30%	113.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	112,935,333	179,594,000	214,984,500	167,211,200	133,580,900	115,564,720	102,247,667	35,570,000	65,644,000	237,592,000	285,739,000	273,425,000	245,365,000	223,016,000	272,058,000	257,429,000	254,007,000	256,660,000	33,102,000	18,951,000	21,285,000	28,325,000	20,129,000	37,321,000	36,900,000	27,300,000	41,800,000	41,000,000	34,200,000	41,600,000	68,800,000	31,900,000	34,300,000	32,400,000	51,044,000	45,499,000	15,069,000
Cash & Short-Term Investments Margin	60.17%	92.74%	116.60%	93.22%	77.07%	67.69%	62.53%	18.90%	35.14%	126.48%	143.19%	139.97%	123.81%	120.19%	150.21%	155.01%	153.07%	154.32%	20.02%	13.55%	17.99%	26.50%	19.60%	37.42%	30.01%	21.78%	34.27%	32.60%	30.73%	24.44%	42.13%	20.95%	27.59%	30.55%	50.43%	45.93%	29.16%
Net Receivables	45,497,333	47,093,000	28,073,400	18,715,600	14,337,850	14,524,240	19,979,267	50,400,000	44,793,000	41,299,000	42,375,000	56,598,000	45,269,000	0	0	0	0	0	0	0	0	0	6,023,000	0	0	0	0	0	0	0	0	76,349,000	67,765,000	41,684,000	42,634,000	43,155,000	41,034,000
Net Receivables Margin	24.25%	24.59%	14.58%	9.72%	7.58%	8.07%	15.36%	26.78%	23.98%	21.98%	21.23%	28.97%	22.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	50.14%	54.51%	39.30%	42.12%	43.56%	79.42%
Inventory	-16,008,333	-17,894,200	-84,557,100	-72,390,400	-54,292,800	-43,434,240	-36,195,200	0	0	-48,025,000	-41,446,000	0	-26,027,000	0	-247,511,000	-244,177,000	-238,385,000	-240,285,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Margin	-8.52%	-9.27%	-48.68%	-42.09%	-31.56%	-25.25%	-21.04%	0.00%	0.00%	-25.57%	-20.77%	0.00%	-13.13%	0.00%	-136.66%	-147.03%	-143.66%	-144.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Assets	-120,946,667	-130,283,400	-62,539,000	-41,692,667	-19,579,200	-15,663,360	-13,052,800	-50,400,000	-110,437,000	-202,003,000	41,446,000	-330,023,000	26,027,000	0	0	0	0	0	0	0	0	0	233,806,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Assets Margin	-64.48%	-68.32%	-32.85%	-21.90%	-5.04%	-4.03%	-3.36%	-26.78%	-59.12%	-107.53%	20.77%	-168.94%	13.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	227.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Current Assets	21,477,667	78,509,400	74,923,200	57,818,000	63,526,400	62,578,280	65,968,033	35,570,000	0	28,863,000	328,114,000	0	290,634,000	12,630,000	24,547,000	13,252,000	15,622,000	16,375,000	33,102,000	18,951,000	21,285,000	28,325,000	259,958,000	37,321,000	36,909,000	27,294,000	41,776,000	40,958,000	34,238,000	41,638,000	68,846,000	108,249,000	102,065,000	74,084,000	93,678,000	88,654,000	56,103,000
Total Current Assets Margin	11.42%	39.74%	38.31%	31.40%	42.38%	41.94%	49.70%	18.90%	0.00%	15.36%	164.42%	0.00%	146.65%	6.81%	13.55%	7.98%	9.41%	9.85%	20.02%	13.55%	17.99%	26.50%	253.10%	37.42%	30.01%	21.77%	34.25%	32.56%	30.76%	24.46%	42.16%	71.10%	82.10%	69.85%	92.55%	89.49%	108.58%
Property, Plant & Equipment	2,876,667	58,153,400	54,386,300	35,662,733	26,747,050	21,397,640	17,831,367	5,225,000	0	3,405,000	282,137,000	0	258,862,000	-4,184,000	-593,000	-160,000	-829,000	-1,395,000	-363,000	-7,164,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property, Plant & Equipment Margin	1.53%	29.19%	27.34%	17.82%	13.36%	10.69%	8.91%	2.78%	0.00%	1.81%	141.38%	0.00%	130.62%	-2.25%	-0.33%	-0.10%	-0.50%	-0.84%	-0.22%	-5.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Goodwill	0	0	0	425,600	952,200	2,655,600	3,338,200	0	0	0	0	0	0	0	0	0	0	0	0	2,128,000	2,128,000	2,128,000	2,128,000	2,128,000	2,388,000	3,008,000	3,008,000	3,008,000	3,008,000	3,008,000	18,824,000	19,498,000	20,461,000	4,339,000	4,606,000	2,100,000	2,250,000
Goodwill Margin	0.00%	0.00%	0.00%	0.35%	0.82%	1.90%	2.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.52%	1.80%	1.99%	2.07%	2.13%	1.94%	2.40%	2.47%	2.39%	2.70%	1.77%	11.53%	12.81%	16.46%	4.09%	4.55%	2.12%	4.35%
Intangible Assets	1,696,000	1,526,400	2,035,200	1,696,000	1,272,000	1,017,600	848,000	2,544,000	0	2,544,000	2,544,000	0	2,544,000	2,544,000	2,544,000	2,544,000	2,544,000	2,544,000	2,544,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Margin	0.90%	0.80%	1.11%	0.94%	0.71%	0.57%	0.47%	1.35%	0.00%	1.35%	1.27%	0.00%	1.28%	1.37%	1.40%	1.53%	1.53%	1.53%	1.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	224,049,667	245,511,400	241,813,000	208,104,133	156,078,100	124,862,480	104,052,067	221,750,000	228,870,000	221,529,000	281,348,000	274,060,000	256,632,000	232,382,000	239,701,000	232,165,000	229,693,000	235,050,000	224,431,000	243,951,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	119.42%	127.91%	130.48%	117.09%	87.82%	70.25%	58.54%	117.81%	122.53%	117.93%	140.99%	140.29%	129.50%	125.24%	132.35%	139.79%	138.42%	141.32%	135.72%	174.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	11,457,667	7,225,600	4,220,800	3,844,933	4,553,750	3,818,160	3,181,800	20,210,000	0	14,163,000	1,755,000	0	314,000	4,184,000	593,000	160,000	829,000	1,395,000	363,000	7,164,000	3,316,000	3,228,000	6,041,000	10,577,000	3,929,000	5,755,000	7,099,000	476,000	942,000	667,000	2,294,000	0	0	0	0	0	0
Tax Assets Margin	6.09%	3.83%	2.25%	2.30%	3.23%	2.70%	2.25%	10.74%	0.00%	7.54%	0.88%	0.00%	0.16%	2.25%	0.33%	0.10%	0.50%	0.84%	0.22%	5.12%	2.80%	3.02%	5.88%	10.61%	3.20%	4.59%	5.82%	0.38%	0.85%	0.39%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	-234,511,000	-252,805,800	-218,465,900	-177,636,000	-134,897,050	-108,872,720	-91,852,467	-247,185,000	-231,414,000	-224,934,000	-283,892,000	-276,604,000	-259,176,000	-145,211,000	-171,064,000	-173,538,000	-171,641,000	-177,246,000	-169,657,000	-175,361,000	45,611,000	-3,228,000	-6,041,000	-10,577,000	-3,929,000	-5,755,000	-7,099,000	-476,000	-942,000	-667,000	-2,294,000	-19,498,000	-20,461,000	-4,339,000	-4,606,000	-2,100,000	-2,250,000
Other Non-Current Assets Margin	-124.98%	-131.76%	-117.02%	-97.95%	-74.97%	-60.61%	-51.56%	-131.32%	-123.89%	-119.74%	-142.26%	-141.60%	-130.78%	-78.26%	-94.45%	-104.49%	-103.44%	-106.57%	-102.59%	-125.41%	38.54%	-3.02%	-5.88%	-10.61%	-3.20%	-4.59%	-5.82%	-0.38%	-0.85%	-0.39%	-1.40%	-12.81%	-16.46%	-4.09%	-4.55%	-2.12%	-4.35%
Other Assets	352,691,000	250,708,000	205,335,800	215,334,000	236,004,500	260,166,680	248,307,167	355,314,000	381,265,000	321,494,000	-209,720,000	405,187,000	-172,184,000	241,929,000	247,511,000	244,177,000	238,385,000	240,285,000	228,961,000	230,508,000	229,785,000	247,113,000	0	227,160,000	418,957,000	428,330,000	415,633,000	426,545,000	406,306,000	378,847,000	324,349,000	248,030,000	228,618,000	194,426,000	173,576,000	162,240,000	186,188,000
Other Assets Margin	188.01%	133.27%	113.72%	134.02%	163.06%	181.98%	187.07%	188.77%	204.11%	171.14%	-105.09%	207.42%	-86.88%	130.38%	136.66%	147.03%	143.66%	144.47%	138.45%	164.85%	194.19%	231.19%	0.00%	227.77%	340.69%	341.69%	340.74%	339.13%	365.05%	222.53%	198.61%	162.90%	183.89%	183.31%	171.49%	163.76%	360.34%
Total Non-Current Assets	6,417,000	60,628,600	84,498,200	72,436,600	54,960,450	45,862,200	39,343,700	2,544,000	0	16,707,000	283,892,000	0	259,176,000	89,715,000	71,181,000	61,171,000	60,596,000	60,348,000	57,318,000	70,718,000	51,055,000	2,128,000	2,128,000	2,128,000	2,388,000	3,008,000	3,008,000	3,008,000	3,008,000	3,008,000	18,824,000	19,498,000	20,461,000	4,339,000	4,606,000	2,100,000	2,250,000
Total Non-Current Assets Margin	3.42%	30.50%	44.43%	40.73%	31.10%	26.13%	22.82%	1.35%	0.00%	8.89%	142.26%	0.00%	130.78%	48.35%	39.30%	36.83%	36.52%	36.28%	34.66%	50.57%	43.15%	1.99%	2.07%	2.13%	1.94%	2.40%	2.47%	2.39%	2.70%	1.77%	11.53%	12.81%	16.46%	4.09%	4.55%	2.12%	4.35%
Total Assets	380,585,667	389,846,000	364,757,200	345,588,600	354,491,350	368,607,160	353,618,900	393,428,000	381,265,000	367,064,000	402,286,000	405,187,000	377,626,000	344,274,000	343,239,000	318,600,000	314,603,000	317,008,000	319,381,000	320,177,000	302,125,000	277,566,000	262,086,000	266,609,000	458,254,000	458,632,000	460,417,000	470,511,000	443,552,000	423,493,000	412,019,000	375,777,000	351,144,000	272,849,000	271,860,000	252,994,000	244,541,000
Total Assets Margin	202.84%	203.51%	196.46%	206.15%	236.54%	250.05%	259.60%	209.02%	204.11%	195.40%	201.59%	207.42%	190.55%	185.54%	189.52%	191.84%	189.59%	190.60%	193.13%	228.98%	255.32%	259.68%	255.17%	267.33%	372.65%	365.86%	377.45%	374.08%	398.51%	248.76%	252.30%	246.80%	282.45%	257.24%	268.60%	255.37%	473.27%
Accounts Payable	8,824,333	10,387,600	7,552,600	7,730,000	5,797,500	4,638,000	3,865,000	0	0	26,473,000	25,465,000	0	23,588,000	0	0	0	0	0	14,843,000	11,481,000	14,100,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	4.70%	5.37%	3.88%	4.52%	3.39%	2.71%	2.26%	0.00%	0.00%	14.09%	12.76%	0.00%	11.90%	0.00%	0.00%	0.00%	0.00%	0.00%	8.98%	8.21%	11.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt	2,696,667	1,824,200	912,100	608,067	456,050	364,840	304,033	4,023,000	3,019,000	1,048,000	1,030,999	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Margin	1.44%	0.97%	0.48%	0.32%	0.24%	0.19%	0.16%	2.14%	1.62%	0.56%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Payables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Payables Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	-8,154,667	-4,892,800	-2,415,000	-1,610,000	-1,207,500	-966,000	-805,000	0	0	-24,464,000	0	0	314,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	-4.34%	-2.60%	-1.29%	-0.86%	-0.64%	-0.51%	-0.43%	0.00%	0.00%	-13.02%	0.00%	0.00%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	-1,355,667	-5,761,600	-7,756,000	902,467	21,646,400	17,317,120	14,430,933	0	-3,019,000	-1,048,000	-24,740,999	0	25,411,000	-20,116,000	-22,342,000	-16,677,000	-15,028,000	0	-14,843,000	-11,481,000	117,421,000	0	0	0	0	206,899,000	212,492,000	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities Margin	-0.72%	-2.91%	-4.40%	2.53%	18.86%	15.09%	12.58%	0.00%	-1.62%	-0.56%	-12.40%	0.00%	12.82%	-10.84%	-12.34%	-10.04%	-9.06%	0.00%	-8.98%	-8.21%	99.23%	0.00%	0.00%	0.00%	0.00%	165.05%	174.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Current Liabilities	2,010,667	1,557,400	82,051,100	111,225,733	145,859,300	174,723,440	174,349,533	4,023,000	0	2,009,000	1,755,000	0	49,313,000	209,164,000	196,518,000	179,356,000	178,373,000	179,075,000	177,300,000	173,200,000	164,600,000	153,700,000	143,400,000	150,000,000	316,500,000	310,400,000	328,500,000	328,400,000	300,500,000	295,500,000	280,500,000	246,000,000	221,200,000	164,600,000	165,100,000	158,300,000	153,200,000
Total Current Liabilities Margin	1.07%	0.82%	46.57%	72.49%	107.58%	127.59%	138.07%	2.14%	0.00%	1.07%	0.88%	0.00%	24.88%	112.72%	108.51%	108.00%	107.49%	107.67%	107.21%	123.87%	139.10%	143.79%	139.62%	150.40%	257.38%	247.61%	269.30%	261.09%	269.99%	173.57%	171.76%	161.57%	177.93%	155.19%	163.12%	159.78%	296.50%
Long-Term Debt	35,266,000	34,654,800	34,196,400	36,043,600	39,129,700	41,304,480	40,624,800	33,738,000	33,738,000	38,322,000	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	41,238,000	41,238,000	41,238,000	41,238,000	41,238,000	41,238,000	53,988,000	53,988,000	51,488,000	53,238,000	56,238,000	50,042,000	44,000,000	46,500,000	51,000,000	26,000,000	28,600,000	35,611,000	44,921,000
Long-Term Debt Margin	18.80%	18.11%	18.50%	22.21%	27.19%	28.94%	31.34%	17.92%	18.06%	20.40%	16.91%	17.27%	17.02%	18.18%	18.63%	20.31%	20.33%	20.28%	24.94%	29.49%	34.85%	38.58%	40.15%	41.35%	43.90%	43.07%	42.21%	42.33%	50.53%	29.39%	26.94%	30.54%	41.02%	24.51%	28.26%	35.94%	86.94%
Capital Lease Obligations	858,333	515,000	257,500	171,667	128,750	103,000	85,833	0	0	2,575,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	0.46%	0.27%	0.14%	0.09%	0.07%	0.05%	0.05%	0.00%	0.00%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	306,333	2,115,800	453,200	872,733	654,550	561,320	467,767	0	0	919,000	8,359,000	1,301,000	6,690,000	875,000	593,000	-6,965,000	-7,240,000	1,395,000	0	7,164,000	0	0	0	0	0	0	0	0	942,000	0	0	0	0	0	0	0	0
Deferred Tax Liabilities Margin	0.16%	1.07%	0.10%	0.46%	0.35%	0.31%	0.26%	0.00%	0.00%	0.49%	4.19%	0.67%	3.38%	0.47%	0.33%	-4.19%	-4.36%	0.84%	0.00%	5.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Liabilities	150,480,000	76,532,600	59,668,100	58,030,533	39,799,500	28,866,880	17,851,333	256,054,000	-33,738,000	229,124,000	-33,738,000	-35,039,000	0	0	196,518,000	9,712,000	7,788,000	179,075,000	177,216,000	-38,000	-41,238,000	-41,238,000	-41,238,000	-41,238,000	-53,988,000	-53,988,000	115,984,000	123,404,000	-57,180,000	-50,042,000	-44,000,000	-46,500,000	-51,000,000	-26,000,000	-28,600,000	-35,611,000	-44,921,000
Other Non-Current Liabilities Margin	79.98%	41.02%	32.41%	31.03%	19.61%	14.08%	4.51%	136.03%	-18.06%	121.97%	-16.91%	-17.94%	0.00%	0.00%	108.51%	5.85%	4.69%	107.67%	107.16%	-0.03%	-34.85%	-38.58%	-40.15%	-41.35%	-43.90%	-43.07%	95.08%	98.11%	-51.37%	-29.39%	-26.94%	-30.54%	-41.02%	-24.51%	-28.26%	-35.94%	-86.94%
Total Non-Current Liabilities	107,843,333	71,453,600	52,595,800	48,299,733	48,319,800	48,631,840	46,729,867	289,792,000	0	33,738,000	33,738,000	0	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	33,738,000	41,200,000	41,200,000	41,200,000	41,200,000	41,200,000	41,200,000	54,000,000	54,000,000	51,500,000	53,200,000	56,200,000	49,500,000	44,000,000	46,500,000	51,000,000	26,000,000	28,600,000	35,600,000	44,900,000
Total Non-Current Liabilities Margin	57.31%	37.77%	28.33%	28.76%	32.10%	32.85%	34.60%	153.96%	0.00%	17.96%	16.91%	0.00%	17.02%	18.18%	18.63%	20.31%	20.33%	20.28%	24.91%	29.46%	34.82%	38.54%	40.11%	41.31%	43.91%	43.08%	42.22%	42.30%	50.49%	29.08%	26.94%	30.54%	41.02%	24.51%	28.26%	35.93%	86.90%
Total Liabilities	277,558,667	270,760,600	251,139,800	237,188,467	252,425,300	269,947,960	259,861,333	293,815,000	273,990,000	264,871,000	261,000,000	260,127,000	259,232,000	242,902,000	230,256,000	213,094,000	212,111,000	212,813,000	218,454,000	214,441,000	205,848,000	194,873,000	184,616,000	191,195,000	370,460,000	364,444,000	379,964,000	381,551,000	356,659,000	344,953,000	324,493,000	292,537,000	272,196,000	190,632,000	193,677,000	193,858,000	196,778,000
Total Liabilities Margin	147.93%	141.55%	135.27%	141.49%	169.87%	184.58%	192.70%	156.10%	146.68%	141.00%	130.79%	133.16%	130.81%	130.91%	127.13%	128.31%	127.83%	127.95%	132.10%	153.36%	173.96%	182.31%	179.74%	191.71%	301.26%	290.72%	311.49%	303.35%	320.44%	202.62%	198.70%	192.13%	218.95%	179.73%	191.35%	195.68%	380.84%
Preferred Stock	55,000	55,000	55,000	58,667	78,100	92,480	102,400	55,000	55,000	55,000	55,000	55,000	55,000	55,000	55,000	55,000	55,000	55,000	65,000	70,000	70,000	70,000	70,000	70,000	204,000	204,000	134,000	134,000	139,000	159,000	159,000	159,000	134,000	134,000	164,000	164,000	164,000
Preferred Stock Margin	0.03%	0.03%	0.03%	0.04%	0.06%	0.07%	0.08%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.04%	0.05%	0.06%	0.07%	0.07%	0.07%	0.17%	0.16%	0.11%	0.11%	0.12%	0.09%	0.10%	0.10%	0.11%	0.13%	0.16%	0.17%	0.32%
Common Stock	22,401,000	22,401,000	22,401,000	22,399,200	22,272,450	22,100,360	21,655,733	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,401,000	22,374,000	22,374,000	22,374,000	21,817,000	21,484,000	21,412,000	21,412,000	21,412,000	21,412,000	21,412,000	21,412,000	21,412,000	19,406,000	18,921,000	18,712,000	18,712,000
Common Stock Margin	11.94%	11.70%	12.12%	13.61%	15.04%	15.07%	16.20%	11.90%	11.99%	11.92%	11.23%	11.47%	11.30%	12.07%	12.37%	13.49%	13.50%	13.47%	13.55%	16.02%	18.93%	20.93%	21.78%	22.43%	17.74%	17.14%	17.55%	17.02%	19.24%	12.58%	13.11%	14.06%	17.22%	18.30%	18.69%	18.89%	36.21%
Retained Earnings	49,588,333	49,563,800	40,475,500	31,036,533	24,339,500	18,854,960	12,069,267	45,854,000	50,929,000	51,982,000	51,264,000	47,790,000	36,020,000	37,208,000	30,993,000	27,272,000	25,443,000	21,866,000	18,738,000	8,621,000	6,179,000	5,389,000	3,404,000	5,119,000	10,530,000	4,969,000	-2,780,000	462,000	-4,457,000	-11,270,000	1,097,000	-1,248,000	-4,558,000	-15,213,000	-23,653,000	-31,426,000	-34,446,000
Retained Earnings Margin	26.43%	25.89%	21.65%	17.16%	13.81%	10.63%	4.20%	24.36%	27.26%	27.67%	25.69%	24.46%	18.18%	20.05%	17.11%	16.42%	15.33%	13.15%	11.33%	6.17%	5.22%	5.04%	3.31%	5.13%	8.56%	3.96%	-2.28%	0.37%	-4.00%	-6.62%	0.67%	-0.82%	-3.67%	-14.34%	-23.37%	-31.72%	-66.67%
Accumulated OCI	-18,994,000	-2,858,800	879,500	3,599,067	3,138,150	5,078,960	7,546,533	-18,712,000	-16,121,000	-22,149,000	17,688,000	25,000,000	10,459,000	-7,535,000	9,751,000	5,830,000	4,584,000	9,279,000	6,204,000	19,571,000	12,244,000	-2,107,000	-5,405,000	-9,200,000	-1,171,000	11,707,000	12,846,000	17,207,000	18,293,000	13,143,000	8,748,000	6,820,000	7,836,000	28,786,000	29,498,000	17,713,000	15,589,000
Accumulated OCI Margin	-10.12%	-1.74%	0.42%	2.39%	2.02%	3.52%	6.62%	-9.94%	-8.63%	-11.79%	8.86%	12.80%	5.28%	-4.06%	5.38%	3.51%	2.76%	5.58%	3.75%	14.00%	10.35%	-1.97%	-5.26%	-9.22%	-0.95%	9.34%	10.53%	13.68%	16.44%	7.72%	5.36%	4.48%	6.30%	27.14%	29.14%	17.88%	30.17%
Minority Interest	0	0	0	0	0	0	42,833	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,285,000
Minority Interest Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.49%
Total Shareholders’ Equity	103,027,000	119,085,400	113,617,400	108,400,133	102,066,050	98,659,200	93,714,733	99,613,000	107,275,000	102,193,000	141,286,000	145,060,000	118,394,000	101,372,000	112,983,000	105,506,000	102,492,000	104,195,000	100,927,000	105,736,000	96,277,000	82,693,000	77,470,000	75,414,000	87,794,000	94,188,000	80,453,000	88,960,000	86,893,000	78,540,000	87,526,000	83,240,000	78,948,000	82,217,000	78,183,000	59,136,000	46,478,000
Total Shareholders’ Equity Margin	54.92%	61.96%	61.19%	64.66%	66.67%	65.46%	66.82%	52.92%	57.43%	54.40%	70.80%	74.26%	59.74%	54.63%	62.38%	63.53%	61.77%	62.65%	61.03%	75.62%	81.36%	77.36%	75.43%	75.62%	71.39%	75.14%	65.96%	70.73%	78.07%	46.13%	53.60%	54.67%	63.50%	77.51%	77.24%	59.69%	89.95%
Total Equity	103,027,000	119,085,400	113,617,400	108,400,133	102,066,050	98,659,200	93,757,567	99,613,000	107,275,000	102,193,000	141,286,000	145,060,000	118,394,000	101,372,000	112,983,000	105,506,000	102,492,000	104,195,000	100,927,000	105,736,000	96,277,000	82,693,000	77,470,000	75,414,000	87,794,000	94,188,000	80,453,000	88,960,000	86,893,000	78,540,000	87,526,000	83,240,000	78,948,000	82,217,000	78,183,000	59,136,000	47,763,000
Total Equity Margin	54.92%	61.96%	61.19%	64.66%	66.67%	65.46%	66.90%	52.92%	57.43%	54.40%	70.80%	74.26%	59.74%	54.63%	62.38%	63.53%	61.77%	62.65%	61.03%	75.62%	81.36%	77.36%	75.43%	75.62%	71.39%	75.14%	65.96%	70.73%	78.07%	46.13%	53.60%	54.67%	63.50%	77.51%	77.24%	59.69%	92.44%
Total Liabilities & Equity	380,585,667	389,846,000	364,757,200	345,588,600	354,491,350	368,607,160	353,618,900	393,428,000	381,265,000	367,064,000	402,286,000	405,187,000	377,626,000	344,274,000	343,239,000	318,600,000	314,603,000	317,008,000	319,381,000	320,177,000	302,125,000	277,566,000	262,086,000	266,609,000	458,254,000	458,632,000	460,417,000	470,511,000	443,552,000	423,493,000	412,019,000	375,777,000	351,144,000	272,849,000	271,860,000	252,994,000	244,541,000
Total Liabilities & Equity Margin	202.84%	203.51%	196.46%	206.15%	236.54%	250.05%	259.60%	209.02%	204.11%	195.40%	201.59%	207.42%	190.55%	185.54%	189.52%	191.84%	189.59%	190.60%	193.13%	228.98%	255.32%	259.68%	255.17%	267.33%	372.65%	365.86%	377.45%	374.08%	398.51%	248.76%	252.30%	246.80%	282.45%	257.24%	268.60%	255.37%	473.27%
Total Investments	296,358,333	342,144,000	314,331,200	284,077,133	231,582,050	185,265,640	155,421,367	221,750,000	237,067,000	430,258,000	542,334,000	279,311,000	489,104,000	241,929,000	239,701,000	232,165,000	229,693,000	235,050,000	224,431,000	243,951,000	229,785,000	184,628,000	195,410,000	173,116,000	1,958,000	0	0	0	0	0	0	0	0	8,100,000	9,500,000	13,400,000	0
Total Investments Margin	157.92%	177.70%	167.63%	166.31%	143.01%	114.40%	96.36%	117.81%	126.91%	229.04%	271.77%	142.98%	246.80%	130.38%	132.35%	139.79%	138.42%	141.32%	135.72%	174.47%	194.19%	172.73%	190.25%	173.58%	1.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.64%	9.39%	13.53%	0.00%
Net Debt	5,843,667	8,187,000	-59,939,200	-50,601,667	-34,026,750	-25,942,360	-21,357,967	2,191,000	8,456,000	6,884,000	8,985,000	14,419,000	20,845,000	21,108,000	-238,320,000	-223,691,000	-220,269,000	-222,922,000	8,136,000	22,287,000	19,953,000	12,913,000	21,109,000	3,917,000	17,088,000	26,688,000	9,688,000	12,238,000	22,038,000	7,900,000	-24,800,000	14,600,000	16,700,000	-6,400,000	-22,444,000	-9,888,000	29,852,000
Net Debt Margin	3.12%	4.25%	-35.59%	-29.34%	-18.63%	-13.76%	-10.36%	1.16%	4.53%	3.66%	4.50%	7.38%	10.52%	11.38%	-131.59%	-134.69%	-132.74%	-134.03%	4.92%	15.94%	16.86%	12.08%	20.55%	3.93%	13.90%	21.29%	7.94%	9.73%	19.80%	4.64%	-15.19%	9.59%	13.43%	-6.03%	-22.17%	-9.98%	57.77%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	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	187,623,667	191,554,600	185,463,300	170,091,467	156,206,200	153,880,600	144,311,933	188,227,000	186,793,000	187,851,000	199,554,000	195,348,000	198,179,000	185,553,000	181,114,000	166,077,000	165,937,000	166,321,000	165,369,000	139,828,000	118,332,000	106,889,000	102,710,000	99,731,000	122,972,000	125,358,000	121,981,000	125,778,000	111,302,000	170,245,000	163,308,000	152,258,000	124,321,000	106,066,000	101,215,000	99,071,000	51,670,000
Working Capital	19,467,000	76,952,000	-7,127,900	-53,407,733	-82,332,900	-112,145,160	-108,381,500	31,547,000	0	26,854,000	326,359,000	0	241,321,000	-196,534,000	-171,971,000	-166,104,000	-162,751,000	-162,700,000	-144,198,000	-154,249,000	-143,315,000	-125,375,000	116,558,000	-112,679,000	-279,591,000	-283,106,000	-286,724,000	-287,442,000	-266,262,000	-253,862,000	-211,654,000	-137,751,000	-119,135,000	-90,516,000	-71,422,000	-69,646,000	-97,097,000
Working Capital Margin	10.35%	38.92%	-8.26%	-41.09%	-65.20%	-85.64%	-88.37%	16.76%	0.00%	14.30%	163.54%	0.00%	121.77%	-105.92%	-94.95%	-100.02%	-98.08%	-97.82%	-87.20%	-110.31%	-121.11%	-117.29%	113.48%	-112.98%	-227.36%	-225.84%	-235.06%	-228.53%	-239.22%	-149.12%	-129.60%	-90.47%	-95.83%	-85.34%	-70.56%	-70.30%	-187.92%
Total Capital	139,782,000	154,633,600	148,260,500	144,741,533	141,419,100	140,120,680	134,470,367	137,374,000	144,032,000	137,940,000	175,024,000	178,798,000	152,132,000	135,110,000	146,721,000	139,244,000	136,230,000	137,933,000	142,165,000	146,974,000	137,515,000	123,931,000	118,708,000	116,652,000	141,782,000	148,176,000	131,941,000	142,198,000	143,131,000	128,040,000	131,526,000	129,740,000	129,948,000	108,217,000	106,783,000	94,747,000	91,399,000
Total Capital Margin	74.51%	80.55%	79.93%	87.03%	93.98%	94.49%	98.23%	72.98%	77.11%	73.43%	87.71%	91.53%	76.76%	72.81%	81.01%	83.84%	82.10%	82.93%	85.97%	105.11%	116.21%	115.94%	115.58%	116.97%	115.30%	118.20%	108.17%	113.05%	128.60%	75.21%	80.54%	85.21%	104.53%	102.03%	105.50%	95.64%	176.89%
Capital Employed	378,575,000	388,288,600	282,706,100	234,362,867	208,632,050	193,883,720	179,269,367	389,405,000	381,265,000	365,055,000	400,531,000	405,187,000	328,313,000	135,110,000	146,721,000	139,244,000	136,230,000	137,933,000	142,081,000	146,977,000	137,525,000	123,866,000	118,686,000	116,609,000	141,754,000	148,232,000	131,917,000	142,111,000	143,052,000	127,993,000	131,519,000	129,777,000	129,944,000	108,249,000	106,760,000	94,694,000	91,341,000
Capital Employed Margin	201.77%	202.69%	149.89%	133.66%	128.95%	122.46%	121.53%	206.88%	204.11%	194.33%	200.71%	207.42%	165.66%	72.81%	81.01%	83.84%	82.10%	82.93%	85.92%	105.11%	116.22%	115.88%	115.55%	116.92%	115.27%	118.25%	108.15%	112.99%	128.53%	75.18%	80.53%	85.23%	104.52%	102.06%	105.48%	95.58%	176.78%
Invested Capital	108,870,667	127,272,400	53,678,200	57,798,467	68,039,300	72,716,840	72,356,767	101,804,000	115,731,000	109,077,000	150,271,000	159,479,000	139,239,000	122,480,000	-125,337,000	-118,185,000	-117,777,000	-118,727,000	109,063,000	128,023,000	116,230,000	95,606,000	98,579,000	79,331,000	104,882,000	120,876,000	90,141,000	101,198,000	108,931,000	86,440,000	62,726,000	97,840,000	95,648,000	75,817,000	55,739,000	49,248,000	76,330,000
Invested Capital Margin	58.04%	66.21%	25.60%	35.32%	48.05%	51.71%	56.45%	54.09%	61.96%	58.07%	75.30%	81.64%	70.26%	66.01%	-69.20%	-71.16%	-70.98%	-71.38%	65.95%	91.56%	98.22%	89.44%	95.98%	79.54%	85.29%	96.42%	73.90%	80.46%	97.87%	50.77%	38.41%	64.26%	76.94%	71.48%	55.07%	49.71%	147.73%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	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	187,623,667	191,554,600	185,463,300	170,091,467	156,206,200	153,880,600	144,311,933	188,227,000	186,793,000	187,851,000	199,554,000	195,348,000	198,179,000	185,553,000	181,114,000	166,077,000	165,937,000	166,321,000	165,369,000	139,828,000	118,332,000	106,889,000	102,710,000	99,731,000	122,972,000	125,358,000	121,981,000	125,778,000	111,302,000	170,245,000	163,308,000	152,258,000	124,321,000	106,066,000	101,215,000	99,071,000	51,670,000
Net Income	-971,333	2,707,200	2,399,800	3,311,267	3,119,000	2,770,200	3,098,133	-4,268,000	-171,000	1,525,000	4,281,000	12,169,000	-386,000	-704,000	4,528,000	2,636,000	4,388,000	4,430,000	11,022,000	4,436,000	3,290,000	2,493,000	-1,207,000	-466,000	32,364,000	8,936,000	-26,916,000	5,017,000	6,844,000	-12,215,000	3,597,000	3,632,000	10,910,000	8,558,000	8,033,000	3,164,000	-6,976,000
Net Income Margin	-0.52%	1.37%	1.30%	2.04%	2.02%	1.92%	2.08%	-2.27%	-0.09%	0.81%	2.15%	6.23%	-0.19%	-0.38%	2.50%	1.59%	2.64%	2.66%	6.67%	3.17%	2.78%	2.33%	-1.18%	-0.47%	26.32%	7.13%	-22.07%	3.99%	6.15%	-7.17%	2.20%	2.39%	8.78%	8.07%	7.94%	3.19%	-13.50%
Depreciation & Amortization	636,000	778,200	963,400	1,525,133	3,574,700	3,133,640	2,797,133	366,000	652,000	890,000	1,003,000	980,000	996,000	987,000	1,438,000	1,205,000	1,117,000	932,000	600,000	469,000	10,863,000	379,000	9,979,000	10,232,000	108,000	955,000	27,343,000	1,361,000	1,138,000	924,000	1,680,000	1,744,000	1,435,000	1,368,000	1,121,000	1,102,000	547,000
Depreciation & Amortization Margin	0.34%	0.40%	0.52%	1.07%	2.96%	2.56%	2.33%	0.19%	0.35%	0.47%	0.50%	0.50%	0.50%	0.53%	0.79%	0.73%	0.67%	0.56%	0.36%	0.34%	9.18%	0.35%	9.72%	10.26%	0.09%	0.76%	22.42%	1.08%	1.02%	0.54%	1.03%	1.15%	1.15%	1.29%	1.11%	1.11%	1.06%
Deferred Income Tax	-2,229,000	-2,009,800	-1,425,400	-927,667	-628,300	-546,800	-688,900	-1,747,000	-3,121,000	-1,819,000	-1,112,000	-2,250,000	-913,000	-2,236,000	-1,358,000	-2,000	304,000	102,000	-329,000	-97,000	-374,000	1,037,000	2,493,000	-2,537,000	3,711,000	1,957,000	-4,275,000	-834,000	-1,163,000	-621,000	507,000	1,007,000	-6,997,000	0	0	0	0
Deferred Income Tax Margin	-1.19%	-1.06%	-0.75%	-0.47%	-0.31%	-0.29%	-0.43%	-0.93%	-1.67%	-0.97%	-0.56%	-1.15%	-0.46%	-1.21%	-0.75%	0.00%	0.18%	0.06%	-0.20%	-0.07%	-0.32%	0.97%	2.43%	-2.54%	3.02%	1.56%	-3.50%	-0.66%	-1.04%	-0.36%	0.31%	0.66%	-5.63%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	88,000	182,400	295,500	250,533	202,450	180,000	150,000	11,000	119,000	134,000	211,000	437,000	353,000	244,000	495,000	586,000	365,000	584,000	219,000	0	0	0	22,000	66,000	68,000	70,000	65,000	203,000	126,000	77,000	45,000	0	0	0	0	0	0
Stock-Based Compensation Margin	0.05%	0.09%	0.16%	0.14%	0.12%	0.11%	0.09%	0.01%	0.06%	0.07%	0.11%	0.22%	0.18%	0.13%	0.27%	0.35%	0.22%	0.35%	0.13%	0.00%	0.00%	0.00%	0.02%	0.07%	0.06%	0.06%	0.05%	0.16%	0.11%	0.05%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	6,401,000	4,673,000	5,098,600	4,153,200	896,500	-5,903,600	-7,128,800	10,384,000	5,881,000	2,938,000	3,719,000	443,000	11,621,000	3,018,000	10,384,000	576,000	2,022,000	255,000	11,555,000	4,848,000	-917,000	-4,429,000	-1,833,000	-3,588,000	4,037,000	-32,699,000	-10,285,000	-74,528,000	-21,186,000	-23,451,000	-17,617,000	-28,738,000	-30,665,000	-8,550,000	-8,786,000	-17,670,000	-603,000
Change in Working Capital Margin	3.41%	2.46%	2.71%	2.19%	-0.19%	-5.02%	-6.20%	5.52%	3.15%	1.56%	1.86%	0.23%	5.86%	1.63%	5.73%	0.35%	1.22%	0.15%	6.99%	3.47%	-0.77%	-4.14%	-1.78%	-3.60%	3.28%	-26.08%	-8.43%	-59.25%	-19.03%	-13.77%	-10.79%	-18.87%	-24.67%	-8.06%	-8.68%	-17.84%	-1.17%
Accounts Receivable	-814,667	90,000	-1,974,300	-1,390,267	344,800	-1,543,240	-1,592,833	0	-3,520,000	1,076,000	1,545,000	1,349,000	-4,709,000	-10,221,000	-6,185,000	-407,000	1,329,000	-1,419,000	1,448,000	-1,140,000	0	0	0	0	5,687,000	7,131,000	14,932,000	-26,024,000	5,759,000	-4,226,000	-12,402,000	-8,584,000	-8,404,000	1,000,000	1,100,000	-3,900,000	1,000,000
Accounts Receivable Margin	-0.44%	0.03%	-1.06%	-0.76%	0.56%	-0.80%	-0.89%	0.00%	-1.88%	0.57%	0.77%	0.69%	-2.38%	-5.51%	-3.41%	-0.25%	0.80%	-0.85%	0.88%	-0.82%	0.00%	0.00%	0.00%	0.00%	4.62%	5.69%	12.24%	-20.69%	5.17%	-2.48%	-7.59%	-5.64%	-6.76%	0.94%	1.09%	-3.94%	1.94%
Inventory	620,667	-206,400	-103,200	-68,800	40,091,750	77,340,000	86,124,767	0	0	1,862,000	-1,545,000	-1,349,000	0	0	0	0	0	0	0	0	0	0	0	0	276,434,000	256,722,000	269,711,000	237,574,000	245,393,000	232,711,000	193,758,000	222,229,000	198,866,000	154,750,000	0	145,230,000	151,397,000
Inventory Margin	0.33%	-0.09%	-0.05%	-0.03%	32.51%	58.43%	73.54%	0.00%	0.00%	0.99%	-0.77%	-0.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	224.79%	204.79%	221.11%	188.88%	220.47%	136.69%	118.65%	145.96%	159.96%	145.90%	0.00%	146.59%	293.01%
Accounts Payable	336,000	679,000	339,500	226,333	-837,400	-129,440	-112,100	0	0	1,008,000	63,000	2,324,000	0	0	0	0	0	0	0	0	0	0	0	0	1,507,000	-13,446,000	-8,204,000	1,364,000	-6,076,000	1,926,000	12,681,000	3,617,000	73,000	300,000	0	-700,000	200,000
Accounts Payable Margin	0.18%	0.35%	0.18%	0.12%	-0.72%	-0.30%	-0.25%	0.00%	0.00%	0.54%	0.03%	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%	-10.73%	-6.73%	1.08%	-5.46%	1.13%	7.77%	2.38%	0.06%	0.28%	0.00%	-0.71%	0.39%
Other Working Capital	6,259,000	4,110,400	6,928,800	5,373,333	-38,712,100	-81,578,480	-91,554,933	10,384,000	9,401,000	-1,008,000	3,656,000	-1,881,000	16,330,000	13,239,000	16,569,000	576,000	2,022,000	255,000	11,555,000	4,848,000	-917,000	-4,429,000	-1,833,000	-3,588,000	-279,591,000	-283,106,000	-286,724,000	-287,442,000	-266,262,000	-253,862,000	-211,654,000	-246,000,000	-221,200,000	-164,600,000	-9,886,000	-158,300,000	-153,200,000
Other Working Capital Margin	3.34%	2.18%	3.70%	2.84%	-32.55%	-62.36%	-78.61%	5.52%	5.03%	-0.54%	1.83%	-0.96%	8.24%	7.13%	9.15%	0.35%	1.22%	0.15%	6.99%	3.47%	-0.77%	-4.14%	-1.78%	-3.60%	-227.36%	-225.84%	-235.06%	-228.53%	-239.22%	-149.12%	-129.60%	-161.57%	-177.93%	-155.19%	-9.77%	-159.78%	-296.50%
Other Non-Cash Items	700,333	-1,544,200	-4,057,300	-4,767,933	-4,264,400	5,337,360	6,451,400	54,000	-738,000	2,785,000	-7,014,000	-2,808,000	-13,478,000	3,151,000	-12,853,000	-3,685,000	-5,987,000	-1,850,000	-10,047,000	-12,558,000	-3,707,000	-2,784,000	-10,222,000	-9,856,000	-40,303,000	21,277,000	25,335,000	74,807,000	28,156,000	49,063,000	27,635,000	39,061,000	30,715,000	4,099,000	8,249,000	15,945,000	1,100,000
Other Non-Cash Items Margin	0.37%	-0.77%	-2.19%	-2.92%	-2.93%	3.90%	5.08%	0.03%	-0.40%	1.48%	-3.51%	-1.44%	-6.80%	1.70%	-7.10%	-2.22%	-3.61%	-1.11%	-6.08%	-8.98%	-3.13%	-2.60%	-9.95%	-9.88%	-32.77%	16.97%	20.77%	59.48%	25.30%	28.82%	16.92%	25.65%	24.71%	3.86%	8.15%	16.09%	2.13%
Net Cash from Operating Activities	4,625,000	4,786,800	3,274,600	4,690,800	3,759,650	5,658,560	5,252,100	4,800,000	2,622,000	6,453,000	1,088,000	8,971,000	-1,807,000	4,460,000	2,634,000	1,316,000	2,209,000	4,453,000	13,020,000	6,115,000	9,128,000	4,900,000	-768,000	-6,149,000	-15,000	496,000	11,267,000	6,026,000	13,915,000	13,777,000	15,847,000	16,706,000	5,398,000	5,475,000	8,617,000	2,541,000	-5,932,000
Net Cash from Operating Activities Margin	2.46%	2.51%	1.76%	2.99%	2.38%	3.74%	3.42%	2.55%	1.40%	3.44%	0.55%	4.59%	-0.91%	2.40%	1.45%	0.79%	1.33%	2.68%	7.87%	4.37%	7.71%	4.58%	-0.75%	-6.17%	-0.01%	0.40%	9.24%	4.79%	12.50%	8.09%	9.70%	10.97%	4.34%	5.16%	8.51%	2.56%	-11.48%
Capital Expenditures (PPE)	-143,667	-154,200	-194,200	-512,133	-467,550	-494,080	-567,700	-225,000	-80,000	-126,000	-107,000	-233,000	-69,000	-281,000	-103,000	-396,000	-322,000	-4,127,000	-1,338,000	-169,000	-56,000	-50,000	-99,000	-150,000	-446,000	-299,000	-675,000	-575,000	-425,000	-452,000	-930,000	-619,000	-829,000	-394,000	-733,000	-1,616,000	-1,107,000
Capital Expenditures (PPE) Margin	-0.08%	-0.08%	-0.11%	-0.31%	-0.30%	-0.32%	-0.45%	-0.12%	-0.04%	-0.07%	-0.05%	-0.12%	-0.03%	-0.15%	-0.06%	-0.24%	-0.19%	-2.48%	-0.81%	-0.12%	-0.05%	-0.05%	-0.10%	-0.15%	-0.36%	-0.24%	-0.55%	-0.46%	-0.38%	-0.27%	-0.57%	-0.41%	-0.67%	-0.37%	-0.72%	-1.63%	-2.14%
Acquisitions (Net)	1,100,667	-54,800	671,600	1,635,067	5,787,000	7,358,760	4,958,433	0	0	3,302,000	-5,407,000	1,831,000	0	14,506,000	-10,231,000	1,836,000	879,000	4,729,000	-2,540,000	5,469,000	14,066,000	-3,914,000	15,771,000	43,392,000	0	24,125,000	7,926,000	0	23,200,000	45,251,000	-128,000	-94,000	-18,403,000	-483,000	-845,000	2,800,000	-18,285,000
Acquisitions (Net) Margin	0.59%	0.00%	0.38%	1.15%	5.09%	5.96%	3.35%	0.00%	0.00%	1.76%	-2.71%	0.94%	0.00%	7.82%	-5.65%	1.11%	0.53%	2.84%	-1.54%	3.91%	11.89%	-3.66%	15.35%	43.51%	0.00%	19.24%	6.50%	0.00%	20.84%	26.58%	-0.08%	-0.06%	-14.80%	-0.46%	-0.83%	2.83%	-35.39%
Purchases of Investments	-10,286,667	-18,728,200	-51,852,100	-60,408,133	-70,335,550	-75,682,800	-72,311,567	-13,850,000	0	-17,010,000	-35,292,000	-27,489,000	-124,029,000	-49,552,000	-84,552,000	-75,071,000	-91,676,000	-82,836,000	-112,466,000	-44,403,000	-65,494,000	-82,402,000	-128,066,000	-88,669,000	-78,988,000	-95,556,000	-109,310,000	-100,645,000	-136,804,000	-107,371,000	-109,249,000	-31,290,000	-53,211,000	-82,981,000	-53,544,000	-54,632,000	-32,909,000
Purchases of Investments Margin	-5.47%	-9.63%	-28.46%	-37.77%	-50.51%	-54.55%	-55.22%	-7.36%	0.00%	-9.06%	-17.69%	-14.07%	-62.58%	-26.71%	-46.68%	-45.20%	-55.25%	-49.80%	-68.01%	-31.76%	-55.35%	-77.09%	-124.69%	-88.91%	-64.23%	-76.23%	-89.61%	-80.02%	-122.91%	-63.07%	-66.90%	-20.55%	-42.80%	-78.24%	-52.90%	-55.14%	-63.69%
Sales / Maturities of Investments	10,022,000	19,284,600	51,739,100	59,439,000	67,266,350	70,966,560	68,859,800	16,358,000	0	13,708,000	40,699,000	25,658,000	127,107,000	35,046,000	94,783,000	73,235,000	90,797,000	77,357,000	120,159,000	38,934,000	51,428,000	86,316,000	112,295,000	76,441,000	92,191,000	71,431,000	101,384,000	104,569,000	113,604,000	62,120,000	133,220,000	15,324,000	44,076,000	64,388,000	59,822,000	85,313,000	38,031,000
Sales / Maturities of Investments Margin	5.33%	9.90%	28.37%	36.99%	47.80%	50.77%	52.81%	8.69%	0.00%	7.30%	20.39%	13.13%	64.14%	18.89%	52.33%	44.10%	54.72%	46.51%	72.66%	27.84%	43.46%	80.75%	109.33%	76.65%	74.97%	56.98%	83.11%	83.14%	102.07%	36.49%	81.58%	10.06%	35.45%	60.71%	59.10%	86.11%	73.60%
Other Investing Activities	-2,195,667	-602,200	-1,000,100	-1,510,533	-3,508,750	-4,528,280	-3,838,133	0	-3,285,000	-3,302,000	5,407,000	-1,831,000	0	-14,506,000	10,231,000	-1,836,000	-879,000	-4,729,000	7,693,000	-5,469,000	-14,066,000	3,914,000	-15,771,000	-11,996,000	12,301,000	-24,125,000	-7,926,000	1,448,000	-23,200,000	-45,251,000	23,971,000	0	396,000	608,000	50,000	-440,000	-2,551,000
Other Investing Activities Margin	-1.17%	-0.35%	-0.55%	-1.06%	-2.95%	-3.62%	-3.17%	0.00%	-1.76%	-1.76%	2.71%	-0.94%	0.00%	-7.82%	5.65%	-1.11%	-0.53%	-2.84%	4.65%	-3.91%	-11.89%	3.66%	-15.35%	-12.03%	10.00%	-19.24%	-6.50%	1.15%	-20.84%	-26.58%	14.68%	0.00%	0.32%	0.57%	0.05%	-0.44%	-4.94%
Net Cash from Investing Activities	-1,503,333	-254,800	-635,700	-1,869,600	-1,643,150	-3,646,400	-3,954,633	2,283,000	-3,365,000	-3,428,000	5,300,000	-2,064,000	3,009,000	-14,787,000	10,128,000	-2,232,000	-1,201,000	-9,606,000	3,815,000	-5,638,000	-14,122,000	3,864,000	-15,870,000	19,018,000	25,058,000	-24,424,000	-8,601,000	4,797,000	-23,625,000	-45,703,000	22,913,000	-16,679,000	-27,971,000	-18,862,000	4,750,000	31,425,000	-16,821,000
Net Cash from Investing Activities Margin	-0.80%	-0.16%	-0.37%	-1.30%	-1.11%	-2.53%	-3.32%	1.21%	-1.80%	-1.82%	2.66%	-1.06%	1.52%	-7.97%	5.59%	-1.34%	-0.72%	-5.78%	2.31%	-4.03%	-11.93%	3.61%	-15.45%	19.07%	20.38%	-19.48%	-7.05%	3.81%	-21.23%	-26.85%	14.03%	-10.95%	-22.50%	-17.78%	4.69%	31.72%	-32.55%
Net Debt Issuance	1,333,333	800,000	400,000	-183,333	-737,500	-598,080	436,833	1,000,000	1,000,000	2,000,000	0	0	0	0	0	0	0	-6,750,000	0	0	0	0	0	-12,750,000	0	2,500,000	-1,750,000	-3,000,000	4,824,000	4,974,000	-2,500,000	-4,500,000	25,000,000	-2,600,000	-7,000,000	-9,310,000	21,967,000
Net Debt Issuance Margin	0.71%	0.43%	0.21%	-0.13%	-0.71%	-0.55%	1.00%	0.53%	0.54%	1.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.78%	0.00%	1.99%	-1.43%	-2.39%	4.33%	2.92%	-1.53%	-2.96%	20.11%	-2.45%	-6.92%	-9.40%	42.51%
Long-Term Debt Issuance	1,333,333	800,000	400,000	-183,333	-737,500	-598,080	436,833	1,000,000	1,000,000	2,000,000	0	0	0	0	0	0	0	-6,750,000	0	0	0	0	0	-12,750,000	0	2,500,000	-1,750,000	-3,000,000	4,824,000	4,974,000	-2,500,000	-4,500,000	25,000,000	-2,600,000	-7,000,000	-9,310,000	21,967,000
Long-Term Debt Issuance Margin	0.71%	0.43%	0.21%	-0.13%	-0.71%	-0.55%	1.00%	0.53%	0.54%	1.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.78%	0.00%	1.99%	-1.43%	-2.39%	4.33%	2.92%	-1.53%	-2.96%	20.11%	-2.45%	-6.92%	-9.40%	42.51%
Short-Term Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	-42,333	-71,200	-363,400	-709,533	-866,000	-733,480	-717,567	-7,000	-12,000	-108,000	-147,000	-82,000	-71,000	-820,000	-692,000	-698,000	-997,000	-2,603,000	-1,916,000	-607,000	-1,823,000	-60,000	-46,000	-13,456,000	-23,000	6,946,000	-98,000	-1,593,000	-2,371,000	-31,000	897,000	2,081,000	-506,000	-2,357,000	-500,000	-253,000	426,000
Net Stock Issuance Margin	-0.02%	-0.04%	-0.21%	-0.45%	-0.75%	-0.66%	-0.63%	0.00%	-0.01%	-0.06%	-0.07%	-0.04%	-0.04%	-0.44%	-0.38%	-0.42%	-0.60%	-1.57%	-1.16%	-0.43%	-1.54%	-0.06%	-0.04%	-13.49%	-0.02%	5.54%	-0.08%	-1.27%	-2.13%	-0.02%	0.55%	1.37%	-0.41%	-2.22%	-0.49%	-0.26%	0.82%
Common Stock Issuance	0	3,000	18,100	61,467	399,550	1,028,480	894,067	0	0	0	6,000	9,000	0	36,000	32,000	51,000	47,000	84,000	138,000	297,000	222,000	0	0	0	19,000	7,016,000	34,000	154,000	25,000	16,974,000	158,000	410,000	273,000	90,000	62,000	85,000	600,000
Common Stock Issuance Margin	0.00%	0.00%	0.01%	0.04%	0.31%	0.67%	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.03%	0.03%	0.05%	0.08%	0.21%	0.19%	0.00%	0.00%	0.00%	0.02%	5.60%	0.03%	0.12%	0.02%	9.97%	0.10%	0.27%	0.22%	0.08%	0.06%	0.09%	1.16%
Common Stock Repurchased	-42,333	-74,200	-364,900	-777,200	-1,269,250	-1,070,640	-1,036,800	-7,000	-12,000	-108,000	-153,000	-91,000	-71,000	-820,000	-692,000	-698,000	-997,000	-3,603,000	-1,916,000	-607,000	-1,823,000	-60,000	-46,000	-13,456,000	-23,000	-70,000	-132,000	-1,247,000	0	-44,000	-11,000	-79,000	-779,000	-2,447,000	-600,000	-338,000	-174,000
Common Stock Repurchased Margin	-0.02%	-0.04%	-0.21%	-0.50%	-1.06%	-0.89%	-0.88%	0.00%	-0.01%	-0.06%	-0.08%	-0.05%	-0.04%	-0.44%	-0.38%	-0.42%	-0.60%	-2.17%	-1.16%	-0.43%	-1.54%	-0.06%	-0.04%	-13.49%	-0.02%	-0.06%	-0.11%	-0.99%	0.00%	-0.03%	-0.01%	-0.05%	-0.63%	-2.31%	-0.59%	-0.34%	-0.34%
Preferred Stock Issuance	0	0	-22,300	-114,867	-756,150	-604,920	-537,433	0	0	0	0	0	0	-223,000	0	0	0	-1,000,000	-500,000	0	0	0	0	-13,400,000	0	0	0	-500,000	-2,000,000	0	750,000	1,750,000	0	-1,000,000	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	-0.01%	-0.07%	-0.72%	-0.60%	-0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.12%	0.00%	0.00%	0.00%	-0.60%	-0.30%	0.00%	0.00%	0.00%	0.00%	-13.44%	0.00%	0.00%	0.00%	-0.40%	-1.80%	0.00%	0.46%	1.15%	0.00%	-0.94%	0.00%	0.00%	0.00%
Net Dividends Paid	-807,000	-725,400	-766,000	-888,333	-775,400	-644,440	-579,033	-807,000	-807,000	-807,000	-807,000	-399,000	-802,000	-806,000	-807,000	-807,000	-811,000	-1,305,000	-906,000	-2,501,000	-445,000	-508,000	-508,000	-1,675,000	0	0	0	-10,000	-143,000	-225,000	-225,000	0	0	-315,000	-315,000	-315,000	-315,000
Net Dividends Paid Margin	-0.43%	-0.38%	-0.42%	-0.54%	-0.52%	-0.43%	-0.41%	-0.43%	-0.43%	-0.43%	-0.40%	-0.20%	-0.40%	-0.43%	-0.45%	-0.49%	-0.49%	-0.78%	-0.55%	-1.79%	-0.38%	-0.48%	-0.49%	-1.68%	0.00%	0.00%	0.00%	-0.01%	-0.13%	-0.13%	-0.14%	0.00%	0.00%	-0.30%	-0.31%	-0.32%	-0.61%
Common Dividends Paid	-408,000	-326,400	-367,000	-457,200	-342,900	-274,320	-228,600	-408,000	-408,000	-408,000	-408,000	0	-403,000	-407,000	-408,000	-408,000	-412,000	-834,000	-423,000	-1,486,000	-445,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Dividends Paid Margin	-0.22%	-0.17%	-0.20%	-0.28%	-0.21%	-0.17%	-0.14%	-0.22%	-0.22%	-0.22%	-0.20%	0.00%	-0.20%	-0.22%	-0.23%	-0.25%	-0.25%	-0.50%	-0.26%	-1.06%	-0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Dividends Paid	-399,000	-399,000	-399,000	-431,133	-432,500	-370,120	-350,433	-399,000	-399,000	-399,000	-399,000	-399,000	-399,000	-399,000	-399,000	-399,000	-399,000	-471,000	-483,000	-1,015,000	0	-508,000	-508,000	-1,675,000	0	0	0	-10,000	-143,000	-225,000	-225,000	0	0	-315,000	-315,000	-315,000	-315,000
Preferred Dividends Paid Margin	-0.21%	-0.21%	-0.22%	-0.26%	-0.31%	-0.26%	-0.27%	-0.21%	-0.21%	-0.21%	-0.20%	-0.20%	-0.20%	-0.22%	-0.22%	-0.24%	-0.24%	-0.28%	-0.29%	-0.73%	0.00%	-0.48%	-0.49%	-1.68%	0.00%	0.00%	0.00%	-0.01%	-0.13%	-0.13%	-0.14%	0.00%	0.00%	-0.30%	-0.31%	-0.32%	-0.61%
Other Financing Activities	0	0	10,000	-10,600	-7,000	14,400	534,667	0	0	0	0	0	-66,000	36,000	32,000	51,000	47,000	-916,000	138,000	297,000	222,000	0	0	0	19,000	0	0	500,000	0	0	0	0	0	0	-7,000	6,342,000	9,345,000
Other Financing Activities Margin	0.00%	0.00%	0.01%	0.00%	0.00%	0.02%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.03%	0.02%	0.02%	0.03%	0.03%	-0.55%	0.08%	0.21%	0.19%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	6.40%	18.09%
Net Cash from Financing Activities	484,000	3,400	-719,400	-1,791,800	-2,385,900	-1,961,600	-325,100	186,000	181,000	1,085,000	-954,000	-481,000	-939,000	-1,590,000	-1,467,000	-1,454,000	-1,761,000	-11,574,000	-2,684,000	-2,811,000	-2,046,000	-568,000	-554,000	-27,881,000	-4,000	9,446,000	-1,848,000	-4,103,000	2,310,000	4,718,000	-1,828,000	-2,419,000	24,494,000	-5,272,000	-7,822,000	-3,536,000	31,423,000
Net Cash from Financing Activities Margin	0.26%	0.01%	-0.40%	-1.13%	-1.97%	-1.62%	0.79%	0.10%	0.10%	0.58%	-0.48%	-0.25%	-0.47%	-0.86%	-0.81%	-0.88%	-1.06%	-6.96%	-1.62%	-2.01%	-1.73%	-0.53%	-0.54%	-27.96%	0.00%	7.54%	-1.51%	-3.26%	2.08%	2.77%	-1.12%	-1.59%	19.70%	-4.97%	-7.73%	-3.57%	60.81%
Effect of FX on Cash	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Effect of FX on Cash Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Change in Cash	3,605,667	4,535,400	1,919,500	1,029,400	-269,400	50,560	972,367	7,269,000	-562,000	4,110,000	5,434,000	6,426,000	263,000	-11,917,000	11,295,000	-2,370,000	-753,000	-16,727,000	14,151,000	-2,334,000	-7,040,000	8,196,000	-17,192,000	-15,012,000	25,039,000	-14,482,000	818,000	6,720,000	-7,400,000	-27,208,000	36,932,000	-2,392,000	1,921,000	-18,659,000	5,545,000	30,430,000	8,670,000
Net Change in Cash Margin	1.92%	2.35%	0.98%	0.56%	-0.70%	-0.41%	0.89%	3.86%	-0.30%	2.19%	2.72%	3.29%	0.13%	-6.42%	6.24%	-1.43%	-0.45%	-10.06%	8.56%	-1.67%	-5.95%	7.67%	-16.74%	-15.05%	20.36%	-11.55%	0.67%	5.34%	-6.65%	-15.98%	22.61%	-1.57%	1.55%	-17.59%	5.48%	30.72%	16.78%
Cash at Beginning of Period	27,305,667	22,825,800	19,655,500	21,223,133	25,901,450	29,158,840	29,312,233	28,301,000	28,863,000	24,753,000	19,319,000	12,893,000	12,630,000	24,547,000	13,252,000	15,622,000	16,375,000	33,102,000	18,951,000	21,285,000	28,325,000	20,129,000	37,321,000	52,333,000	27,294,000	41,776,000	40,958,000	34,238,000	41,638,000	68,846,000	31,914,000	34,306,000	32,385,000	51,044,000	45,499,000	15,069,000	6,399,000
Cash at Beginning of Period Margin	14.55%	11.99%	10.61%	13.03%	18.67%	20.82%	22.24%	15.04%	15.45%	13.18%	9.68%	6.60%	6.37%	13.23%	7.32%	9.41%	9.87%	19.90%	11.46%	15.22%	23.94%	18.83%	36.34%	52.47%	22.20%	33.33%	33.58%	27.22%	37.41%	40.44%	19.54%	22.53%	26.05%	48.12%	44.95%	15.21%	12.38%
Cash at End of Period	30,911,333	27,361,200	21,575,000	22,252,533	25,632,050	29,209,400	30,284,600	35,570,000	28,301,000	28,863,000	24,753,000	19,319,000	12,893,000	12,630,000	24,547,000	13,252,000	15,622,000	16,375,000	33,102,000	18,951,000	21,285,000	28,325,000	20,129,000	37,321,000	52,333,000	27,294,000	41,776,000	40,958,000	34,238,000	41,638,000	68,846,000	31,914,000	34,306,000	32,385,000	51,044,000	45,499,000	15,069,000
Cash at End of Period Margin	16.47%	14.34%	11.60%	13.59%	17.97%	20.41%	23.13%	18.90%	15.15%	15.36%	12.40%	9.89%	6.51%	6.81%	13.55%	7.98%	9.41%	9.85%	20.02%	13.55%	17.99%	26.50%	19.60%	37.42%	42.56%	21.77%	34.25%	32.56%	30.76%	24.46%	42.16%	20.96%	27.59%	30.53%	50.43%	45.93%	29.16%
Operating Cash Flow	4,625,000	4,786,800	3,274,600	4,690,800	3,759,650	5,658,560	5,252,100	4,800,000	2,622,000	6,453,000	1,088,000	8,971,000	-1,807,000	4,460,000	2,634,000	1,316,000	2,209,000	4,453,000	13,020,000	6,115,000	9,128,000	4,900,000	-768,000	-6,149,000	-15,000	496,000	11,267,000	6,026,000	13,915,000	13,777,000	15,847,000	16,706,000	5,398,000	5,475,000	8,617,000	2,541,000	-5,932,000
Operating Cash Flow Margin	2.46%	2.51%	1.76%	2.99%	2.38%	3.74%	3.42%	2.55%	1.40%	3.44%	0.55%	4.59%	-0.91%	2.40%	1.45%	0.79%	1.33%	2.68%	7.87%	4.37%	7.71%	4.58%	-0.75%	-6.17%	-0.01%	0.40%	9.24%	4.79%	12.50%	8.09%	9.70%	10.97%	4.34%	5.16%	8.51%	2.56%	-11.48%
Capital Expenditure	-143,667	-154,200	-194,200	-512,133	-467,550	-494,080	-567,700	-225,000	-80,000	-126,000	-107,000	-233,000	-69,000	-281,000	-103,000	-396,000	-322,000	-4,127,000	-1,338,000	-169,000	-56,000	-50,000	-99,000	-150,000	-446,000	-299,000	-675,000	-575,000	-425,000	-452,000	-930,000	-619,000	-829,000	-394,000	-733,000	-1,616,000	-1,107,000
Capital Expenditure Margin	-0.08%	-0.08%	-0.11%	-0.31%	-0.30%	-0.32%	-0.45%	-0.12%	-0.04%	-0.07%	-0.05%	-0.12%	-0.03%	-0.15%	-0.06%	-0.24%	-0.19%	-2.48%	-0.81%	-0.12%	-0.05%	-0.05%	-0.10%	-0.15%	-0.36%	-0.24%	-0.55%	-0.46%	-0.38%	-0.27%	-0.57%	-0.41%	-0.67%	-0.37%	-0.72%	-1.63%	-2.14%
Free Cash Flow	4,481,333	4,632,600	3,080,400	4,178,667	3,292,100	5,164,480	4,684,400	4,575,000	2,542,000	6,327,000	981,000	8,738,000	-1,876,000	4,179,000	2,531,000	920,000	1,887,000	326,000	11,682,000	5,946,000	9,072,000	4,850,000	-867,000	-6,299,000	-461,000	197,000	10,592,000	5,451,000	13,490,000	13,325,000	14,917,000	16,087,000	4,569,000	5,081,000	7,884,000	925,000	-7,039,000
Free Cash Flow Margin	2.39%	2.42%	1.65%	2.68%	2.08%	3.42%	2.97%	2.43%	1.36%	3.37%	0.49%	4.47%	-0.95%	2.25%	1.40%	0.55%	1.14%	0.20%	7.06%	4.25%	7.67%	4.54%	-0.84%	-6.32%	-0.37%	0.16%	8.68%	4.33%	12.12%	7.83%	9.13%	10.57%	3.68%	4.79%	7.79%	0.93%	-13.62%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	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	187,623,667	191,554,600	185,463,300	170,091,467	156,206,200	153,880,600	144,311,933	188,227,000	186,793,000	187,851,000	199,554,000	195,348,000	198,179,000	185,553,000	181,114,000	166,077,000	165,937,000	166,321,000	165,369,000	139,828,000	118,332,000	106,889,000	102,710,000	99,731,000	122,972,000	125,358,000	121,981,000	125,778,000	111,302,000	170,245,000	163,308,000	152,258,000	124,321,000	106,066,000	101,215,000	99,071,000	51,670,000
EBITDA	2,271,667	6,520,000	6,043,400	7,296,867	8,997,550	9,713,480	9,840,933	-1,479,000	3,356,000	4,938,000	7,692,000	18,093,000	2,719,000	2,053,000	8,517,000	6,291,000	8,254,000	7,443,000	13,704,000	8,183,000	6,302,000	13,387,000	4,429,000	12,538,000	34,485,000	15,100,000	3,946,000	8,753,000	10,783,000	23,275,000	9,167,000	10,908,000	8,176,000	12,217,000	13,700,000	12,209,000	6,089,000
EBITDA Margin	1.21%	3.35%	3.27%	4.61%	6.47%	6.90%	7.61%	-0.79%	1.80%	2.63%	3.85%	9.26%	1.37%	1.11%	4.70%	3.79%	4.97%	4.48%	8.29%	5.85%	5.33%	12.52%	4.31%	12.57%	28.04%	12.05%	3.23%	6.96%	9.69%	13.67%	5.61%	7.16%	6.58%	11.52%	13.54%	12.32%	11.78%
(-) Tax Adjustment	-238,407	931,402	876,289	189,362	705,591	535,431	-18,584	279,841	-2,340,290	1,345,228	1,481,240	3,890,993	-140,292	-564,522	1,316,668	1,585,246	1,908,774	719,409	225,017	1,040,185	47,526	-7,954,594	8,388,854	-6,648,173	13,566,122	3,856,588	-7,892,000	-169,596	-812,933	-3,735,401	1,413,955	2,577,921	-14,567,539	203,546	169,136	318,699	-67,129
(-) Tax Adjustment Margin	-0.13%	0.47%	0.48%	-0.09%	0.39%	0.29%	-0.13%	0.15%	-1.25%	0.72%	0.74%	1.99%	-0.07%	-0.30%	0.73%	0.95%	1.15%	0.43%	0.14%	0.74%	0.04%	-7.44%	8.17%	-6.67%	11.03%	3.08%	-6.47%	-0.13%	-0.73%	-2.19%	0.87%	1.69%	-11.72%	0.19%	0.17%	0.32%	-0.13%
(-) Change In Working Capital	6,401,000	4,673,000	5,098,600	4,153,200	896,500	-5,903,600	-7,128,800	10,384,000	5,881,000	2,938,000	3,719,000	443,000	11,621,000	3,018,000	10,384,000	576,000	2,022,000	255,000	11,555,000	4,848,000	-917,000	-4,429,000	-1,833,000	-3,588,000	4,037,000	-32,699,000	-10,285,000	-74,528,000	-21,186,000	-23,451,000	-17,617,000	-28,738,000	-30,665,000	-8,550,000	-8,786,000	-17,670,000	-603,000
(-) Change In Working Capital Margin	3.41%	2.46%	2.71%	2.19%	-0.19%	-5.02%	-6.20%	5.52%	3.15%	1.56%	1.86%	0.23%	5.86%	1.63%	5.73%	0.35%	1.22%	0.15%	6.99%	3.47%	-0.77%	-4.14%	-1.78%	-3.60%	3.28%	-26.08%	-8.43%	-59.25%	-19.03%	-13.77%	-10.79%	-18.87%	-24.67%	-8.06%	-8.68%	-17.84%	-1.17%
(-) Capital Expenditure	-143,667	-154,200	-194,200	-512,133	-467,550	-494,080	-567,700	-225,000	-80,000	-126,000	-107,000	-233,000	-69,000	-281,000	-103,000	-396,000	-322,000	-4,127,000	-1,338,000	-169,000	-56,000	-50,000	-99,000	-150,000	-446,000	-299,000	-675,000	-575,000	-425,000	-452,000	-930,000	-619,000	-829,000	-394,000	-733,000	-1,616,000	-1,107,000
(-) Capital Expenditure Margin	-0.08%	-0.08%	-0.11%	-0.31%	-0.30%	-0.32%	-0.45%	-0.12%	-0.04%	-0.07%	-0.05%	-0.12%	-0.03%	-0.15%	-0.06%	-0.24%	-0.19%	-2.48%	-0.81%	-0.12%	-0.05%	-0.05%	-0.10%	-0.15%	-0.36%	-0.24%	-0.55%	-0.46%	-0.38%	-0.27%	-0.57%	-0.41%	-0.67%	-0.37%	-0.72%	-1.63%	-2.14%
Unlevered Free Cash Flow	-4,034,593	761,398	-125,689	2,442,171	6,927,909	14,587,569	16,420,617	-12,367,841	-264,710	528,772	2,384,760	13,526,007	-8,830,708	-681,478	-3,286,668	3,733,754	4,001,226	2,341,591	585,983	2,125,815	7,115,474	25,720,594	-2,225,854	22,624,173	16,435,878	43,643,412	21,448,000	82,875,596	32,356,933	50,009,401	24,440,045	36,449,079	52,579,539	20,169,454	21,583,864	27,944,301	5,652,129
Unlevered Free Cash Flow Margin	-2.14%	0.34%	-0.03%	2.20%	5.97%	11.30%	13.48%	-6.57%	-0.14%	0.28%	1.20%	6.92%	-4.46%	-0.37%	-1.81%	2.25%	2.41%	1.41%	0.35%	1.52%	6.01%	24.06%	-2.17%	22.69%	13.37%	34.82%	17.58%	65.89%	29.07%	29.37%	14.97%	23.94%	42.29%	19.02%	21.32%	28.21%	10.94%
(-) Net Interest Income After Taxes	-3,678,253	-2,683,685	-2,197,902	-2,289,228	-2,685,322	-2,770,671	-2,925,804	-4,065,908	-5,548,621	-1,420,229	-1,119,907	-1,263,761	-2,239,902	-2,597,123	-1,456,636	-1,168,397	-1,098,537	-1,451,674	-1,866,835	-2,297,433	-2,579,400	-4,164,058	2,464,068	-5,046,738	-2,523,489	-3,428,868	-10,833,000	-3,130,503	-3,355,218	-2,973,175	-2,735,175	-3,366,244	-7,841,736	-2,110,246	-2,864,198	-3,206,067	-2,485,099
(-) Net Interest Income After Taxes Margin	-1.96%	-1.42%	-1.18%	-1.43%	-1.89%	-1.96%	-2.27%	-2.16%	-2.97%	-0.76%	-0.56%	-0.65%	-1.13%	-1.40%	-0.80%	-0.70%	-0.66%	-0.87%	-1.13%	-1.64%	-2.18%	-3.90%	2.40%	-5.06%	-2.05%	-2.74%	-8.88%	-2.49%	-3.01%	-1.75%	-1.67%	-2.21%	-6.31%	-1.99%	-2.83%	-3.24%	-4.81%
Net Debt Issuance	1,333,333	800,000	400,000	-183,333	-737,500	-598,080	436,833	1,000,000	1,000,000	2,000,000	0	0	0	0	0	0	0	-6,750,000	0	0	0	0	0	-12,750,000	0	2,500,000	-1,750,000	-3,000,000	4,824,000	4,974,000	-2,500,000	-4,500,000	25,000,000	-2,600,000	-7,000,000	-9,310,000	21,967,000
Net Debt Issuance Margin	0.71%	0.43%	0.21%	-0.13%	-0.71%	-0.55%	1.00%	0.53%	0.54%	1.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.78%	0.00%	1.99%	-1.43%	-2.39%	4.33%	2.92%	-1.53%	-2.96%	20.11%	-2.45%	-6.92%	-9.40%	42.51%
Levered Free Cash Flow	976,993	4,245,083	2,472,214	4,548,066	8,875,732	16,760,160	19,783,254	-7,301,933	6,283,912	3,949,001	3,504,667	14,789,768	-6,590,806	1,915,645	-1,830,032	4,902,151	5,099,764	-2,956,735	2,452,819	4,423,248	9,694,873	29,884,652	-4,689,922	14,920,911	18,959,367	49,572,281	30,531,000	83,006,100	40,536,150	57,956,576	24,675,219	35,315,323	85,421,275	19,679,699	17,448,062	21,840,367	30,104,228
Levered Free Cash Flow Margin	0.53%	2.18%	1.36%	3.51%	7.15%	12.71%	16.75%	-3.88%	3.36%	2.10%	1.76%	7.57%	-3.33%	1.03%	-1.01%	2.95%	3.07%	-1.78%	1.48%	3.16%	8.19%	27.96%	-4.57%	14.96%	15.42%	39.54%	25.03%	65.99%	36.42%	34.04%	15.11%	23.19%	68.71%	18.55%	17.24%	22.05%	58.26%