The Bank of New York Mellon Corporation (BK)

Analysis: Margins & Ratios Industry: Asset Management Sector: Financial Services Live Price: $121.33

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	31,048,000,000	25,121,600,000	21,144,300,000	18,980,200,000	16,953,650,000	14,881,080,000	13,384,100,000	40,407,000,000	38,749,000,000	39,553,000,000	33,791,000,000	19,800,000,000	15,860,000,000	16,604,000,000	20,448,000,000	18,807,000,000	16,198,000,000	15,269,000,000	15,113,000,000	14,782,000,000	14,929,000,000	14,723,000,000	14,820,000,000	14,006,000,000	7,823,000,000	15,721,000,000	14,397,000,000	9,062,000,000	7,367,000,000	6,216,000,000	6,336,000,000	5,756,000,000	7,160,000,000	7,486,000,000	6,966,000,000	5,793,000,000	5,697,000,000	5,713,000,000	5,327,000,000
Cost of Revenue	13,813,333,333	8,580,800,000	5,198,500,000	3,614,266,667	3,243,250,000	2,921,040,000	2,771,700,000	21,008,000,000	21,018,000,000	21,365,000,000	16,422,000,000	3,653,000,000	-4,000,000	1,468,000,000	4,335,000,000	2,810,000,000	1,050,000,000	426,000,000	460,000,000	306,000,000	308,000,000	454,000,000	605,000,000	556,000,000	925,000,000	2,769,000,000	3,414,000,000	2,221,000,000	1,322,000,000	726,000,000	876,000,000	1,633,000,000	2,314,000,000	2,612,000,000	1,907,000,000	1,879,000,000	1,985,000,000	2,222,000,000	2,132,000,000
Cost of Revenue Margin	40.35%	25.98%	17.83%	12.91%	14.46%	16.41%	19.46%	51.99%	54.24%	54.02%	48.60%	18.45%	-0.03%	8.84%	21.20%	14.94%	6.48%	2.79%	3.04%	2.07%	2.06%	3.08%	4.08%	3.97%	11.82%	17.61%	23.71%	24.51%	17.94%	11.68%	13.83%	28.37%	32.32%	34.89%	27.38%	32.44%	34.84%	38.89%	40.02%
Gross Profit	17,234,666,667	16,540,800,000	15,945,800,000	15,365,933,333	13,710,400,000	11,960,040,000	10,612,400,000	19,399,000,000	17,731,000,000	18,188,000,000	17,369,000,000	16,147,000,000	15,864,000,000	15,136,000,000	16,113,000,000	15,997,000,000	15,148,000,000	14,843,000,000	14,653,000,000	14,476,000,000	14,621,000,000	14,269,000,000	14,215,000,000	13,450,000,000	6,898,000,000	12,952,000,000	10,983,000,000	6,841,000,000	6,045,000,000	5,490,000,000	5,460,000,000	4,123,000,000	4,846,000,000	4,874,000,000	5,059,000,000	3,914,000,000	3,712,000,000	3,491,000,000	3,195,000,000
Gross Profit Margin	59.65%	74.02%	82.17%	87.09%	85.54%	83.59%	80.54%	48.01%	45.76%	45.98%	51.40%	81.55%	100.03%	91.16%	78.80%	85.06%	93.52%	97.21%	96.96%	97.93%	97.94%	96.92%	95.92%	96.03%	88.18%	82.39%	76.29%	75.49%	82.06%	88.32%	86.17%	71.63%	67.68%	65.11%	72.62%	67.56%	65.16%	61.11%	59.98%
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	6,839,333,333	6,564,200,000	6,270,800,000	6,084,933,333	5,511,950,000	4,759,680,000	4,147,133,333	6,913,000,000	6,839,000,000	6,890,000,000	6,828,000,000	6,800,000,000	6,337,000,000	5,966,000,000	6,063,000,000	6,145,000,000	6,033,000,000	5,809,000,000	5,837,000,000	5,845,000,000	6,019,000,000	5,761,000,000	5,726,000,000	5,215,000,000	4,700,000,000	5,189,000,000	4,126,000,000	2,640,000,000	2,310,000,000	2,094,000,000	2,002,000,000	1,581,000,000	1,588,000,000	1,488,000,000	1,251,000,000	1,178,000,000	1,066,000,000	1,014,000,000	913,000,000
SG&A Expenses Margin	23.99%	29.57%	32.41%	34.60%	35.06%	33.44%	30.93%	17.11%	17.65%	17.42%	20.21%	34.34%	39.96%	35.93%	29.65%	32.67%	37.25%	38.04%	38.62%	39.54%	40.32%	39.13%	38.64%	37.23%	60.08%	33.01%	28.66%	29.13%	31.36%	33.69%	31.60%	27.47%	22.18%	19.88%	17.96%	20.33%	18.71%	17.75%	17.14%
Operating Expenses	12,697,666,667	11,995,400,000	11,238,200,000	11,027,000,000	10,101,150,000	8,701,320,000	7,575,466,667	12,714,000,000	13,123,000,000	12,340,000,000	13,086,000,000	12,667,000,000	11,216,000,000	10,668,000,000	10,526,000,000	10,805,000,000	10,538,000,000	10,118,000,000	10,418,000,000	10,913,000,000	10,844,000,000	10,912,000,000	10,598,000,000	9,756,000,000	9,106,000,000	11,006,000,000	7,768,000,000	4,671,000,000	4,067,000,000	3,650,000,000	3,698,000,000	2,751,000,000	2,788,000,000	2,623,000,000	2,219,000,000	2,023,000,000	1,939,000,000	1,837,000,000	1,713,000,000
Operating Expenses Margin	44.63%	53.77%	57.81%	62.65%	64.35%	61.03%	56.36%	31.46%	33.87%	31.20%	38.73%	63.97%	70.72%	64.25%	51.48%	57.45%	65.06%	66.26%	68.93%	73.83%	72.64%	74.12%	71.51%	69.66%	116.40%	70.01%	53.96%	51.54%	55.21%	58.72%	58.36%	47.79%	38.94%	35.04%	31.85%	34.92%	34.04%	32.15%	32.16%
Operating Income (EBIT)	4,537,000,000	4,545,400,000	4,707,600,000	4,338,933,333	3,609,250,000	3,258,720,000	3,036,933,333	6,685,000,000	4,608,000,000	5,848,000,000	4,283,000,000	3,480,000,000	4,648,000,000	4,468,000,000	5,587,000,000	5,192,000,000	4,610,000,000	4,725,000,000	4,235,000,000	3,563,000,000	3,777,000,000	3,357,000,000	3,617,000,000	3,694,000,000	-2,208,000,000	1,946,000,000	3,215,000,000	2,170,000,000	1,978,000,000	1,840,000,000	1,762,000,000	1,372,000,000	2,058,000,000	2,251,000,000	2,840,000,000	1,891,000,000	1,773,000,000	1,654,000,000	1,482,000,000
Operating Income (EBIT) Margin	15.01%	20.25%	24.36%	24.44%	21.19%	22.56%	24.17%	16.54%	11.89%	14.79%	12.67%	17.58%	29.31%	26.91%	27.32%	27.61%	28.46%	30.95%	28.02%	24.10%	25.30%	22.80%	24.41%	26.37%	-28.22%	12.38%	22.33%	23.95%	26.85%	29.60%	27.81%	23.84%	28.74%	30.07%	40.77%	32.64%	31.12%	28.95%	27.82%
Interest Income	17,791,000,000	12,065,400,000	8,559,000,000	6,849,400,000	6,192,600,000	5,547,160,000	5,221,200,000	25,786,000,000	25,103,000,000	25,607,000,000	20,648,000,000	7,118,000,000	2,845,000,000	4,109,000,000	7,548,000,000	6,432,000,000	4,382,000,000	3,575,000,000	3,326,000,000	3,234,000,000	3,352,000,000	3,507,000,000	3,588,000,000	3,470,000,000	3,508,000,000	5,524,000,000	5,670,000,000	3,740,000,000	2,669,000,000	1,887,000,000	2,330,000,000	2,613,000,000	3,620,000,000	4,377,000,000	3,473,000,000	3,510,000,000	3,560,000,000	3,583,000,000	3,831,000,000
Interest Income Margin	53.93%	40.90%	34.81%	31.01%	33.10%	35.34%	39.71%	63.82%	64.78%	64.74%	61.11%	35.95%	17.94%	24.75%	36.91%	34.20%	27.05%	23.41%	22.01%	21.88%	22.45%	23.82%	24.21%	24.78%	44.84%	35.14%	39.38%	41.27%	36.23%	30.36%	36.77%	45.40%	50.56%	58.47%	49.86%	60.59%	62.49%	62.72%	71.92%
Interest Expense	13,737,333,333	8,514,200,000	5,156,300,000	3,596,200,000	3,209,800,000	2,841,640,000	2,660,033,333	20,994,000,000	20,884,000,000	21,295,000,000	16,303,000,000	3,614,000,000	227,000,000	1,132,000,000	4,360,000,000	2,821,000,000	1,074,000,000	437,000,000	300,000,000	354,000,000	343,000,000	534,000,000	604,000,000	545,000,000	593,000,000	2,665,000,000	3,425,000,000	2,241,000,000	1,329,000,000	730,000,000	721,000,000	948,000,000	1,939,000,000	2,507,000,000	1,772,000,000	1,859,000,000	1,705,000,000	1,622,000,000	1,802,000,000
Interest Expense Margin	40.11%	25.72%	17.64%	12.84%	14.19%	15.36%	17.79%	51.96%	53.90%	53.84%	48.25%	18.25%	1.43%	6.82%	21.32%	15.00%	6.63%	2.86%	1.99%	2.39%	2.30%	3.63%	4.08%	3.89%	7.58%	16.95%	23.79%	24.73%	18.04%	11.74%	11.38%	16.47%	27.08%	33.49%	25.44%	32.09%	29.93%	28.39%	33.83%
Net Interest Income	4,053,666,667	3,551,200,000	3,402,700,000	3,253,200,000	2,982,800,000	2,705,520,000	2,561,166,667	4,792,000,000	4,219,000,000	4,312,000,000	4,345,000,000	3,504,000,000	2,618,000,000	2,977,000,000	3,188,000,000	3,611,000,000	3,308,000,000	3,138,000,000	3,026,000,000	2,880,000,000	3,009,000,000	2,973,000,000	2,984,000,000	2,925,000,000	2,915,000,000	2,859,000,000	2,245,000,000	1,499,000,000	1,340,000,000	1,157,000,000	1,609,000,000	1,665,000,000	1,681,000,000	1,870,000,000	1,701,000,000	1,651,000,000	1,855,000,000	1,961,000,000	2,029,000,000
Net Interest Income Margin	13.82%	15.18%	17.17%	18.17%	18.92%	19.99%	21.92%	11.86%	10.89%	10.90%	12.86%	17.70%	16.51%	17.93%	15.59%	19.20%	20.42%	20.55%	20.02%	19.48%	20.16%	20.19%	20.13%	20.88%	37.26%	18.19%	15.59%	16.54%	18.19%	18.61%	25.39%	28.93%	23.48%	24.98%	24.42%	28.50%	32.56%	34.33%	38.09%
Unusual Items	-4,053,666,667	-3,551,200,000	-3,402,700,000	-3,253,200,000	-2,982,800,000	-2,705,520,000	-2,561,166,667	-4,792,000,000	-4,219,000,000	-4,312,000,000	-4,345,000,000	-3,504,000,000	-2,618,000,000	-2,977,000,000	-3,188,000,000	-3,611,000,000	-3,308,000,000	-3,138,000,000	-3,026,000,000	-2,880,000,000	-3,009,000,000	-2,973,000,000	-2,984,000,000	-2,925,000,000	-2,915,000,000	-2,859,000,000	-2,245,000,000	-1,499,000,000	-1,340,000,000	-1,157,000,000	-1,609,000,000	-1,665,000,000	-1,681,000,000	-1,870,000,000	-1,701,000,000	-1,651,000,000	-1,855,000,000	-1,961,000,000	-2,029,000,000
Unusual Items Margin	-13.82%	-15.18%	-17.17%	-18.17%	-18.92%	-19.99%	-21.92%	-11.86%	-10.89%	-10.90%	-12.86%	-17.70%	-16.51%	-17.93%	-15.59%	-19.20%	-20.42%	-20.55%	-20.02%	-19.48%	-20.16%	-20.19%	-20.13%	-20.88%	-37.26%	-18.19%	-15.59%	-16.54%	-18.19%	-18.61%	-25.39%	-28.93%	-23.48%	-24.98%	-24.42%	-28.50%	-32.56%	-34.33%	-38.09%
EBT Excluding Unusual Items	8,590,666,667	8,096,600,000	8,110,300,000	7,592,133,333	6,592,050,000	5,964,240,000	5,598,100,000	11,477,000,000	8,827,000,000	10,160,000,000	8,628,000,000	6,984,000,000	7,266,000,000	7,445,000,000	8,775,000,000	8,803,000,000	7,918,000,000	7,863,000,000	7,261,000,000	6,443,000,000	6,786,000,000	6,330,000,000	6,601,000,000	6,619,000,000	707,000,000	4,805,000,000	5,460,000,000	3,669,000,000	3,318,000,000	2,997,000,000	3,371,000,000	3,037,000,000	3,739,000,000	4,121,000,000	4,541,000,000	3,542,000,000	3,628,000,000	3,615,000,000	3,511,000,000
EBT Excluding Unusual Items Margin	28.83%	35.43%	41.53%	42.61%	40.11%	42.55%	46.09%	28.40%	22.78%	25.69%	25.53%	35.27%	45.81%	44.84%	42.91%	46.81%	48.88%	51.50%	48.04%	43.59%	45.46%	42.99%	44.54%	47.26%	9.04%	30.56%	37.92%	40.49%	45.04%	48.21%	53.20%	52.76%	52.22%	55.05%	65.19%	61.14%	63.68%	63.28%	65.91%
Pre-Tax Income	4,537,000,000	4,545,400,000	4,707,600,000	4,338,933,333	3,609,250,000	3,258,720,000	3,036,933,333	6,685,000,000	4,608,000,000	5,848,000,000	4,283,000,000	3,480,000,000	4,648,000,000	4,468,000,000	5,587,000,000	5,192,000,000	4,610,000,000	4,725,000,000	4,235,000,000	3,563,000,000	3,777,000,000	3,357,000,000	3,617,000,000	3,694,000,000	-2,208,000,000	1,946,000,000	3,215,000,000	2,170,000,000	1,978,000,000	1,840,000,000	1,762,000,000	1,372,000,000	2,058,000,000	2,251,000,000	2,840,000,000	1,891,000,000	1,773,000,000	1,654,000,000	1,482,000,000
Pre-Tax Income Margin	15.01%	20.25%	24.36%	24.44%	21.19%	22.56%	24.17%	16.54%	11.89%	14.79%	12.67%	17.58%	29.31%	26.91%	27.32%	27.61%	28.46%	30.95%	28.02%	24.10%	25.30%	22.80%	24.41%	26.37%	-28.22%	12.38%	22.33%	23.95%	26.85%	29.60%	27.81%	23.84%	28.74%	30.07%	40.77%	32.64%	31.12%	28.95%	27.82%
Income Tax Expense	1,073,666,667	988,000,000	968,400,000	1,008,333,333	826,850,000	789,440,000	780,233,333	1,414,000,000	1,019,000,000	1,305,000,000	979,000,000	937,000,000	877,000,000	842,000,000	1,120,000,000	938,000,000	496,000,000	1,177,000,000	1,013,000,000	912,000,000	1,592,000,000	842,000,000	1,048,000,000	1,047,000,000	-1,395,000,000	491,000,000	987,000,000	694,000,000	635,000,000	587,000,000	605,000,000	470,000,000	715,000,000	822,000,000	1,101,000,000	699,000,000	669,000,000	634,000,000	568,000,000
Income Tax Expense Margin	3.64%	4.31%	4.95%	5.77%	4.75%	5.72%	6.82%	3.50%	2.63%	3.30%	2.90%	4.73%	5.53%	5.07%	5.48%	4.99%	3.06%	7.71%	6.70%	6.17%	10.66%	5.72%	7.07%	7.48%	-17.83%	3.12%	6.86%	7.66%	8.62%	9.44%	9.55%	8.17%	9.99%	10.98%	15.81%	12.07%	11.74%	11.10%	10.66%
Net Income	3,462,666,667	3,552,800,000	3,726,600,000	3,293,866,667	2,810,000,000	2,498,840,000	2,281,333,333	5,243,000,000	3,580,000,000	4,530,000,000	3,302,000,000	2,556,000,000	3,759,000,000	3,617,000,000	4,441,000,000	4,266,000,000	4,090,000,000	3,547,000,000	3,158,000,000	2,567,000,000	2,104,000,000	2,437,000,000	2,516,000,000	2,518,000,000	-1,084,000,000	1,419,000,000	2,039,000,000	2,847,000,000	1,571,000,000	1,440,000,000	1,157,000,000	902,000,000	1,343,000,000	1,429,000,000	1,739,000,000	1,192,000,000	1,104,000,000	1,020,000,000	914,000,000
Net Income Margin	11.38%	15.92%	19.34%	18.42%	16.92%	17.34%	17.78%	12.98%	9.24%	11.45%	9.77%	12.91%	23.70%	21.78%	21.72%	22.68%	25.25%	23.23%	20.90%	17.37%	14.09%	16.55%	16.98%	17.98%	-13.86%	9.03%	14.16%	31.42%	21.32%	23.17%	18.26%	15.67%	18.76%	19.09%	24.96%	20.58%	19.38%	17.85%	17.16%
Depreciation and Amortization	1,822,666,667	1,793,000,000	1,605,200,000	1,425,600,000	1,240,450,000	1,059,280,000	917,300,000	1,728,000,000	2,001,000,000	1,803,000,000	1,887,000,000	1,778,000,000	1,867,000,000	1,630,000,000	1,315,000,000	1,339,000,000	1,474,000,000	1,502,000,000	1,457,000,000	1,292,000,000	1,389,000,000	1,246,000,000	776,000,000	629,000,000	711,000,000	878,000,000	820,000,000	490,000,000	526,000,000	480,000,000	430,000,000	232,000,000	284,000,000	247,000,000	215,000,000	187,000,000	200,000,000	237,000,000	198,000,000
Depreciation and Amortization Margin	6.37%	8.14%	8.28%	7.94%	7.60%	7.11%	6.52%	4.28%	5.16%	4.56%	5.58%	8.98%	11.77%	9.82%	6.43%	7.12%	9.10%	9.84%	9.64%	8.74%	9.30%	8.46%	5.24%	4.49%	9.09%	5.58%	5.70%	5.41%	7.14%	7.72%	6.79%	4.03%	3.97%	3.30%	3.09%	3.23%	3.51%	4.15%	3.72%
EBITDA	6,359,666,667	6,338,400,000	6,312,800,000	5,764,533,333	4,849,700,000	4,318,000,000	3,954,233,333	8,413,000,000	6,609,000,000	7,651,000,000	6,170,000,000	5,258,000,000	6,515,000,000	6,098,000,000	6,902,000,000	6,531,000,000	6,084,000,000	6,227,000,000	5,692,000,000	4,855,000,000	5,166,000,000	4,603,000,000	4,393,000,000	4,323,000,000	-1,497,000,000	2,824,000,000	4,035,000,000	2,660,000,000	2,504,000,000	2,320,000,000	2,192,000,000	1,604,000,000	2,342,000,000	2,498,000,000	3,055,000,000	2,078,000,000	1,973,000,000	1,891,000,000	1,680,000,000
EBITDA Margin	21.39%	28.39%	32.64%	32.38%	28.79%	29.67%	30.69%	20.82%	17.06%	19.34%	18.26%	26.56%	41.08%	36.73%	33.75%	34.73%	37.56%	40.78%	37.66%	32.84%	34.60%	31.26%	29.64%	30.87%	-19.14%	17.96%	28.03%	29.35%	33.99%	37.32%	34.60%	27.87%	32.71%	33.37%	43.86%	35.87%	34.63%	33.10%	31.54%
NOPAT	3,463,333,333	3,557,400,000	3,739,200,000	3,330,600,000	2,782,400,000	2,469,280,000	2,256,700,000	5,271,000,000	3,589,000,000	4,543,000,000	3,304,000,000	2,543,000,000	3,771,000,000	3,626,000,000	4,467,000,000	4,254,000,000	4,114,000,000	3,548,000,000	3,222,000,000	2,651,000,000	2,185,000,000	2,515,000,000	2,569,000,000	2,647,000,000	-813,000,000	1,455,000,000	2,228,000,000	1,476,000,000	1,343,000,000	1,253,000,000	1,157,000,000	902,000,000	1,343,000,000	1,429,000,000	1,739,000,000	1,192,000,000	1,104,000,000	1,020,000,000	914,000,000
NOPAT Margin	11.37%	15.94%	19.41%	18.67%	16.44%	16.83%	17.36%	13.04%	9.26%	11.49%	9.78%	12.84%	23.78%	21.84%	21.85%	22.62%	25.40%	23.24%	21.32%	17.93%	14.64%	17.08%	17.33%	18.90%	-10.39%	9.26%	15.48%	16.29%	18.23%	20.16%	18.26%	15.67%	18.76%	19.09%	24.96%	20.58%	19.38%	17.85%	17.16%
Owner's Earnings	3,893,000,000	4,023,000,000	4,176,300,000	3,753,666,667	3,262,300,000	2,892,800,000	2,616,833,333	5,441,000,000	4,291,000,000	4,864,000,000	3,969,000,000	2,846,000,000	4,411,000,000	4,025,000,000	4,546,000,000	4,497,000,000	4,367,000,000	4,224,000,000	4,014,000,000	3,068,000,000	2,876,000,000	3,031,000,000	2,650,000,000	2,917,000,000	-691,000,000	1,994,000,000	2,552,000,000	3,120,000,000	1,966,000,000	1,658,000,000	1,458,000,000	926,000,000	1,462,000,000	1,570,000,000	1,367,000,000	1,291,000,000	1,259,000,000	1,210,000,000	1,058,000,000
Owner's Earnings Margin	12.81%	18.09%	21.78%	21.14%	19.99%	20.28%	20.40%	13.47%	11.07%	12.30%	11.75%	14.37%	27.81%	24.24%	22.23%	23.91%	26.96%	27.66%	26.56%	20.75%	19.26%	20.59%	17.88%	20.83%	-8.83%	12.68%	17.73%	34.43%	26.69%	26.67%	23.01%	16.09%	20.42%	20.97%	19.62%	22.29%	22.10%	21.18%	19.86%

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	31,048,000,000	25,121,600,000	21,144,300,000	18,980,200,000	16,953,650,000	14,881,080,000	13,384,100,000	39,553,000,000	33,791,000,000	19,800,000,000	15,860,000,000	16,604,000,000	20,448,000,000	18,807,000,000	16,198,000,000	15,269,000,000	15,113,000,000	14,782,000,000	14,929,000,000	14,723,000,000	14,820,000,000	14,006,000,000	7,823,000,000	15,721,000,000	14,397,000,000	9,062,000,000	7,367,000,000	6,216,000,000	6,336,000,000	5,756,000,000	7,160,000,000	7,486,000,000	6,966,000,000	5,793,000,000	5,697,000,000	5,713,000,000	5,327,000,000
Cash & Cash Equivalents	111,494,333,333	123,595,800,000	114,236,800,000	116,902,933,333	99,441,000,000	81,647,280,000	69,360,600,000	101,937,000,000	125,191,000,000	107,355,000,000	121,336,000,000	162,160,000,000	114,683,000,000	88,000,000,000	108,871,000,000	77,949,000,000	134,886,000,000	123,147,000,000	146,119,000,000	138,747,000,000	130,739,000,000	72,424,000,000	67,396,000,000	98,560,000,000	41,458,000,000	16,336,000,000	11,526,000,000	12,078,000,000	12,129,000,000	9,852,000,000	9,841,000,000	8,462,000,000	10,126,000,000	8,503,000,000	7,895,000,000	7,419,000,000	5,693,000,000
Cash & Cash Equivalents Margin	390.14%	582.42%	601.60%	677.97%	614.13%	523.60%	458.58%	257.72%	370.49%	542.20%	765.04%	976.63%	560.85%	467.91%	672.13%	510.50%	892.52%	833.09%	978.76%	942.38%	882.18%	517.09%	861.51%	626.93%	287.96%	180.27%	156.45%	194.31%	191.43%	171.16%	137.44%	113.04%	145.36%	146.78%	138.58%	129.86%	106.87%
Short-Term Investments	110,203,666,667	125,373,600,000	121,073,800,000	116,379,733,333	97,216,550,000	80,180,040,000	67,758,666,667	98,673,000,000	113,736,000,000	118,202,000,000	145,409,000,000	150,848,000,000	129,082,000,000	137,113,000,000	110,932,000,000	101,876,000,000	104,867,000,000	131,731,000,000	107,765,000,000	115,249,000,000	95,931,000,000	84,282,000,000	56,606,000,000	41,593,000,000	62,046,000,000	30,035,000,000	8,355,000,000	10,335,000,000	10,235,000,000	8,694,000,000	13,065,000,000	17,841,000,000	14,098,000,000	4,918,000,000	5,436,000,000	2,109,000,000	1,698,000,000
Short-Term Investments Margin	394.35%	601.67%	641.46%	670.63%	596.17%	512.92%	442.49%	249.47%	336.59%	596.98%	916.83%	908.50%	631.27%	729.05%	684.85%	667.21%	693.89%	891.16%	721.85%	782.78%	647.31%	601.76%	723.58%	264.57%	430.96%	331.44%	113.41%	166.26%	161.54%	151.04%	182.47%	238.32%	202.38%	84.90%	95.42%	36.92%	31.88%
Cash & Short-Term Investments	221,698,000,000	248,969,400,000	235,310,600,000	233,282,666,667	196,657,550,000	161,827,320,000	137,119,266,667	200,610,000,000	238,927,000,000	225,557,000,000	266,745,000,000	313,008,000,000	243,765,000,000	225,113,000,000	219,803,000,000	179,825,000,000	239,753,000,000	254,878,000,000	253,884,000,000	253,996,000,000	226,670,000,000	156,706,000,000	124,002,000,000	140,153,000,000	103,504,000,000	46,371,000,000	19,881,000,000	22,413,000,000	22,364,000,000	18,546,000,000	22,906,000,000	26,303,000,000	24,224,000,000	13,421,000,000	13,331,000,000	9,528,000,000	7,391,000,000
Cash & Short-Term Investments Margin	784.48%	1,184.09%	1,243.06%	1,348.60%	1,210.30%	1,036.52%	901.07%	507.19%	707.07%	1,139.18%	1,681.87%	1,885.14%	1,192.12%	1,196.96%	1,356.98%	1,177.71%	1,586.40%	1,724.25%	1,700.61%	1,725.16%	1,529.49%	1,118.85%	1,585.10%	891.50%	718.93%	511.71%	269.87%	360.57%	352.97%	322.20%	319.92%	351.36%	347.75%	231.68%	234.00%	166.78%	138.75%
Net Receivables	7,528,666,667	6,841,000,000	6,990,700,000	7,871,866,667	7,973,500,000	6,430,520,000	5,412,600,000	7,082,000,000	8,585,000,000	6,919,000,000	5,903,000,000	5,716,000,000	5,924,000,000	6,741,000,000	8,032,000,000	7,512,000,000	7,493,000,000	9,054,000,000	8,866,000,000	10,301,000,000	10,050,000,000	9,900,000,000	9,553,000,000	11,518,000,000	10,595,000,000	9,363,000,000	363,000,000	285,000,000	214,000,000	204,000,000	236,000,000	354,000,000	319,000,000	355,000,000	356,000,000	315,000,000	270,000,000
Net Receivables Margin	26.09%	29.98%	36.31%	46.15%	53.47%	43.56%	37.22%	17.91%	25.41%	34.94%	37.22%	34.43%	28.97%	35.84%	49.59%	49.20%	49.58%	61.25%	59.39%	69.97%	67.81%	70.68%	122.11%	73.27%	73.59%	103.32%	4.93%	4.58%	3.38%	3.54%	3.30%	4.73%	4.58%	6.13%	6.25%	5.51%	5.07%
Inventory	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
Inventory 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%
Other Current Assets	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
Other Current Assets 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%
Total Current Assets	231,807,000,000	258,249,600,000	244,318,200,000	242,915,133,333	206,223,500,000	169,531,800,000	143,593,500,000	210,463,000,000	250,067,000,000	234,891,000,000	275,070,000,000	320,757,000,000	251,644,000,000	233,596,000,000	229,646,000,000	188,611,000,000	248,437,000,000	265,091,000,000	264,410,000,000	265,224,000,000	237,648,000,000	168,172,000,000	135,358,000,000	152,464,000,000	116,085,000,000	56,592,000,000	20,244,000,000	22,698,000,000	22,578,000,000	18,750,000,000	23,142,000,000	26,657,000,000	24,543,000,000	13,776,000,000	13,687,000,000	9,843,000,000	7,661,000,000
Total Current Assets Margin	819.49%	1,224.93%	1,289.42%	1,404.29%	1,273.50%	1,087.86%	944.77%	532.10%	740.04%	1,186.32%	1,734.36%	1,931.81%	1,230.65%	1,242.07%	1,417.74%	1,235.25%	1,643.86%	1,793.34%	1,771.12%	1,801.43%	1,603.56%	1,200.71%	1,730.26%	969.81%	806.31%	624.50%	274.79%	365.15%	356.34%	325.75%	323.21%	356.09%	352.33%	237.80%	240.25%	172.29%	143.81%
Property, Plant & Equipment	3,228,333,333	3,343,600,000	2,649,100,000	2,304,866,667	2,082,300,000	1,889,960,000	1,720,333,333	3,266,000,000	3,163,000,000	3,256,000,000	3,431,000,000	3,602,000,000	3,625,000,000	1,832,000,000	1,634,000,000	1,303,000,000	1,379,000,000	1,394,000,000	1,655,000,000	1,659,000,000	1,681,000,000	1,693,000,000	1,602,000,000	1,686,000,000	1,731,000,000	1,050,000,000	1,004,000,000	1,097,000,000	1,398,000,000	1,192,000,000	992,000,000	924,000,000	893,000,000	856,000,000	835,000,000	875,000,000	902,000,000
Property, Plant & Equipment Margin	11.35%	15.48%	13.26%	12.52%	12.81%	13.72%	13.91%	8.26%	9.36%	16.44%	21.63%	21.69%	17.73%	9.74%	10.09%	8.53%	9.12%	9.43%	11.09%	11.27%	11.34%	12.09%	20.48%	10.72%	12.02%	11.59%	13.63%	17.65%	22.06%	20.71%	13.85%	12.34%	12.82%	14.78%	14.66%	15.32%	16.93%
Goodwill	16,336,333,333	16,803,400,000	17,125,100,000	17,414,266,667	15,910,500,000	12,867,480,000	10,722,900,000	16,598,000,000	16,261,000,000	16,150,000,000	17,512,000,000	17,496,000,000	17,386,000,000	17,350,000,000	17,564,000,000	17,316,000,000	17,618,000,000	17,869,000,000	18,073,000,000	18,075,000,000	17,904,000,000	18,042,000,000	16,249,000,000	15,898,000,000	16,331,000,000	5,008,000,000	3,510,000,000	3,477,000,000	0	0	0	0	0	0	0	0	0
Goodwill Margin	57.22%	77.49%	90.31%	101.16%	102.13%	83.94%	69.95%	41.96%	48.12%	81.57%	110.42%	105.37%	85.03%	92.25%	108.43%	113.41%	116.58%	120.88%	121.06%	122.77%	120.81%	128.82%	207.71%	101.13%	113.43%	55.26%	47.64%	55.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	5,324,000,000	5,191,000,000	5,068,000,000	5,366,533,333	5,153,600,000	4,180,760,000	3,483,966,667	5,527,000,000	5,284,000,000	5,161,000,000	5,087,000,000	4,896,000,000	4,697,000,000	4,872,000,000	4,910,000,000	5,049,000,000	5,197,000,000	5,459,000,000	5,703,000,000	5,926,000,000	6,138,000,000	6,592,000,000	6,183,000,000	6,463,000,000	6,921,000,000	1,841,000,000	1,166,000,000	793,000,000	214,000,000	204,000,000	236,000,000	0	0	0	0	0	0
Intangible Assets Margin	18.56%	23.45%	26.39%	31.18%	33.61%	27.80%	23.17%	13.97%	15.64%	26.07%	32.07%	29.49%	22.97%	25.91%	30.31%	33.07%	34.39%	36.93%	38.20%	40.25%	41.42%	47.07%	79.04%	41.11%	48.07%	20.32%	15.83%	12.76%	3.38%	3.54%	3.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	140,532,666,667	132,882,200,000	118,877,900,000	101,183,333,333	88,466,750,000	81,160,600,000	74,821,100,000	170,268,000,000	122,691,000,000	128,639,000,000	131,129,000,000	111,684,000,000	95,080,000,000	95,894,000,000	108,355,000,000	112,392,000,000	112,647,000,000	88,096,000,000	77,847,000,000	60,955,000,000	55,422,000,000	46,651,000,000	47,615,000,000	58,382,000,000	50,544,000,000	34,899,000,000	60,145,000,000	59,583,000,000	58,186,000,000	49,640,000,000	48,609,000,000	43,662,000,000	44,446,000,000	44,801,000,000	41,755,000,000	42,059,000,000	42,557,000,000
Long-Term Investments Margin	481.09%	588.54%	606.79%	553.76%	541.95%	593.62%	617.33%	430.48%	363.09%	649.69%	826.79%	672.63%	464.98%	509.88%	668.94%	736.08%	745.36%	595.97%	521.45%	414.01%	373.97%	333.08%	608.65%	371.36%	351.07%	385.11%	816.41%	958.54%	918.34%	862.40%	678.90%	583.25%	638.04%	773.36%	732.93%	736.20%	798.89%
Tax Assets	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 Assets 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%
Other Non-Current Assets	13,346,333,333	12,689,200,000	10,880,000,000	9,517,000,000	8,825,000,000	8,287,040,000	7,513,066,667	9,942,000,000	12,411,000,000	17,686,000,000	12,209,000,000	11,198,000,000	9,076,000,000	9,329,000,000	9,649,000,000	8,798,000,000	8,502,000,000	7,394,000,000	6,828,000,000	7,151,000,000	6,473,000,000	6,109,000,000	5,217,000,000	2,619,000,000	6,044,000,000	3,816,000,000	16,049,000,000	6,881,000,000	6,143,000,000	5,583,000,000	6,198,000,000	5,871,000,000	4,874,000,000	4,070,000,000	3,684,000,000	2,988,000,000	2,600,000,000
Other Non-Current Assets Margin	50.40%	59.12%	56.30%	52.98%	59.00%	65.98%	65.19%	25.14%	36.73%	89.32%	76.98%	67.44%	44.39%	49.60%	59.57%	57.62%	56.26%	50.02%	45.74%	48.57%	43.68%	43.62%	66.69%	16.66%	41.98%	42.11%	217.85%	110.70%	96.95%	96.99%	86.56%	78.43%	69.97%	70.26%	64.67%	52.30%	48.81%
Other Assets	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
Other Assets 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%
Total Non-Current Assets	178,767,666,667	170,909,400,000	154,600,100,000	135,786,000,000	120,438,150,000	108,709,720,000	98,531,266,667	205,601,000,000	159,810,000,000	170,892,000,000	169,368,000,000	148,876,000,000	129,864,000,000	129,277,000,000	142,112,000,000	144,858,000,000	145,343,000,000	120,212,000,000	110,106,000,000	93,766,000,000	87,618,000,000	79,087,000,000	76,866,000,000	85,048,000,000	81,571,000,000	46,614,000,000	81,874,000,000	71,831,000,000	69,819,000,000	58,990,000,000	57,883,000,000	50,457,000,000	50,213,000,000	49,727,000,000	46,274,000,000	45,922,000,000	46,059,000,000
Total Non-Current Assets Margin	618.61%	764.07%	793.06%	751.61%	749.50%	790.19%	793.82%	519.81%	472.94%	863.09%	1,067.89%	896.63%	635.09%	687.39%	877.34%	948.71%	961.71%	813.23%	737.53%	636.87%	591.21%	564.67%	982.56%	540.98%	566.58%	514.39%	1,111.36%	1,155.58%	1,101.94%	1,024.84%	808.42%	674.02%	720.83%	858.40%	812.25%	803.82%	864.63%
Total Assets	410,574,666,667	429,159,000,000	398,918,300,000	378,701,133,333	326,661,650,000	278,241,520,000	242,124,766,667	416,064,000,000	409,877,000,000	405,783,000,000	444,438,000,000	469,633,000,000	381,508,000,000	362,873,000,000	371,758,000,000	333,469,000,000	393,780,000,000	385,303,000,000	374,516,000,000	358,990,000,000	325,266,000,000	247,259,000,000	212,224,000,000	237,512,000,000	197,656,000,000	103,206,000,000	102,118,000,000	94,529,000,000	92,397,000,000	77,740,000,000	81,025,000,000	77,114,000,000	74,756,000,000	63,503,000,000	59,961,000,000	55,765,000,000	53,720,000,000
Total Assets Margin	1,438.10%	1,989.00%	2,082.48%	2,155.90%	2,023.00%	1,878.06%	1,738.59%	1,051.92%	1,212.98%	2,049.41%	2,802.26%	2,828.43%	1,865.75%	1,929.46%	2,295.09%	2,183.96%	2,605.57%	2,606.57%	2,508.65%	2,438.29%	2,194.78%	1,765.38%	2,712.82%	1,510.79%	1,372.90%	1,138.89%	1,386.15%	1,520.74%	1,458.29%	1,350.59%	1,131.63%	1,030.11%	1,073.16%	1,096.20%	1,052.50%	976.11%	1,008.45%
Accounts Payable	20,634,333,333	22,427,600,000	21,369,800,000	19,287,600,000	16,215,800,000	12,993,240,000	10,856,300,000	20,073,000,000	18,395,000,000	23,435,000,000	25,150,000,000	25,085,000,000	18,758,000,000	19,731,000,000	20,184,000,000	20,987,000,000	21,900,000,000	21,181,000,000	15,707,000,000	16,095,000,000	12,671,000,000	9,962,000,000	10,721,000,000	9,274,000,000	7,578,000,000	7,266,000,000	163,000,000	113,000,000	82,000,000	101,000,000	92,000,000	127,000,000	131,000,000	188,000,000	182,000,000	167,000,000	190,000,000
Accounts Payable Margin	74.52%	106.64%	113.68%	110.08%	99.12%	79.61%	66.83%	50.75%	54.44%	118.36%	158.58%	151.08%	91.74%	104.91%	124.61%	137.45%	144.91%	143.29%	105.21%	109.32%	85.50%	71.13%	137.04%	58.99%	52.64%	80.18%	2.21%	1.82%	1.29%	1.75%	1.28%	1.70%	1.88%	3.25%	3.19%	2.92%	3.57%
Short-Term Debt	13,735,666,667	12,815,600,000	14,012,600,000	12,118,600,000	9,781,450,000	8,290,600,000	7,967,900,000	14,365,000,000	14,507,000,000	12,335,000,000	11,566,000,000	11,305,000,000	15,360,000,000	16,182,000,000	18,238,000,000	10,743,000,000	15,525,000,000	12,255,000,000	9,744,000,000	7,765,000,000	6,277,000,000	5,612,000,000	3,360,000,000	1,510,000,000	6,272,000,000	1,014,000,000	1,694,000,000	1,738,000,000	1,873,000,000	1,111,000,000	4,119,000,000	2,795,000,000	5,143,000,000	6,107,000,000	7,002,000,000	5,881,000,000	7,639,000,000
Short-Term Debt Margin	47.18%	56.51%	72.94%	67.52%	57.15%	52.59%	62.11%	36.32%	42.93%	62.30%	72.93%	68.09%	75.12%	86.04%	112.59%	70.36%	102.73%	82.90%	65.27%	52.74%	42.35%	40.07%	42.95%	9.60%	43.56%	11.19%	22.99%	27.96%	29.56%	19.30%	57.53%	37.34%	73.83%	105.42%	122.91%	102.94%	143.40%
Tax Payables	5,415,666,667	5,542,000,000	5,709,900,000	6,006,933,333	5,786,050,000	5,421,760,000	4,835,866,667	5,270,000,000	5,567,000,000	5,410,000,000	5,767,000,000	5,696,000,000	5,642,000,000	5,669,000,000	6,225,000,000	5,867,000,000	5,986,000,000	6,305,000,000	6,985,000,000	7,316,000,000	6,235,000,000	6,164,000,000	4,484,000,000	3,779,000,000	8,101,000,000	5,129,000,000	4,124,000,000	4,452,000,000	4,256,000,000	4,066,000,000	3,766,000,000	3,283,000,000	2,644,000,000	2,183,000,000	1,910,000,000	1,417,000,000	1,378,000,000
Tax Payables Margin	19.04%	25.56%	30.20%	35.15%	38.87%	43.33%	41.44%	13.32%	16.47%	27.32%	36.36%	34.30%	27.59%	30.14%	38.43%	38.42%	39.61%	42.65%	46.79%	49.69%	42.07%	44.01%	57.32%	24.04%	56.27%	56.60%	55.98%	71.62%	67.17%	70.64%	52.60%	43.86%	37.96%	37.68%	33.53%	24.80%	25.87%
Deferred Revenue	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
Deferred Revenue 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%
Other Current Liabilities	286,426,000,000	305,077,600,000	277,478,800,000	264,704,133,333	225,221,500,000	191,481,240,000	166,801,066,667	291,525,000,000	286,212,000,000	281,541,000,000	322,232,000,000	343,878,000,000	261,123,000,000	239,977,000,000	245,530,000,000	222,357,000,000	280,413,000,000	274,190,000,000	272,829,000,000	258,027,000,000	230,102,000,000	160,626,000,000	136,244,000,000	160,482,000,000	122,702,000,000	64,653,000,000	49,787,000,000	58,721,000,000	56,406,000,000	55,387,000,000	55,711,000,000	56,376,000,000	55,751,000,000	44,632,000,000	41,357,000,000	39,343,000,000	35,918,000,000
Other Current Liabilities Margin	1,001.99%	1,421.75%	1,448.93%	1,508.25%	1,381.38%	1,278.24%	1,187.19%	737.05%	847.01%	1,421.92%	2,031.73%	2,071.06%	1,277.01%	1,276.00%	1,515.80%	1,456.26%	1,855.44%	1,854.89%	1,827.51%	1,752.54%	1,552.65%	1,146.84%	1,741.58%	1,020.81%	852.27%	713.45%	675.81%	944.68%	890.25%	962.25%	778.09%	753.09%	800.33%	770.45%	725.94%	688.66%	674.26%
Total Current Liabilities	320,796,000,000	340,320,800,000	312,861,200,000	296,936,933,333	252,062,900,000	213,440,400,000	186,188,033,333	325,963,000,000	319,114,000,000	317,311,000,000	358,948,000,000	380,268,000,000	295,241,000,000	275,890,000,000	283,952,000,000	254,087,000,000	317,838,000,000	307,626,000,000	298,280,000,000	281,887,000,000	255,285,000,000	182,364,000,000	154,809,000,000	171,266,000,000	136,552,000,000	72,933,000,000	51,644,000,000	60,572,000,000	58,361,000,000	56,599,000,000	59,922,000,000	59,298,000,000	61,025,000,000	50,927,000,000	48,541,000,000	45,391,000,000	43,747,000,000
Total Current Liabilities Margin	1,123.69%	1,584.90%	1,635.55%	1,691.59%	1,544.82%	1,416.17%	1,320.91%	824.12%	944.38%	1,602.58%	2,263.23%	2,290.22%	1,443.86%	1,466.95%	1,753.01%	1,664.07%	2,103.08%	2,081.09%	1,997.99%	1,914.60%	1,722.57%	1,302.04%	1,978.90%	1,089.41%	948.48%	804.82%	701.02%	974.45%	921.10%	983.30%	836.90%	792.12%	876.04%	879.11%	852.04%	794.52%	821.23%
Long-Term Debt	31,223,333,333	29,336,800,000	28,546,800,000	25,895,800,000	23,018,800,000	19,442,800,000	16,548,000,000	31,079,000,000	31,736,000,000	30,855,000,000	26,680,000,000	26,334,000,000	28,100,000,000	32,390,000,000	31,007,000,000	25,217,000,000	22,070,000,000	21,050,000,000	20,527,000,000	19,910,000,000	22,107,000,000	19,375,000,000	17,711,000,000	16,620,000,000	18,713,000,000	10,174,000,000	8,721,000,000	6,121,000,000	6,121,000,000	5,440,000,000	4,976,000,000	3,036,000,000	2,811,000,000	2,086,000,000	1,809,000,000	1,816,000,000	1,848,000,000
Long-Term Debt Margin	109.44%	131.03%	146.74%	144.67%	143.14%	130.50%	114.57%	78.58%	93.92%	155.83%	168.22%	158.60%	137.42%	172.22%	191.42%	165.15%	146.03%	142.40%	137.50%	135.23%	149.17%	138.33%	226.40%	105.72%	129.98%	112.27%	118.38%	98.47%	96.61%	94.51%	69.50%	40.56%	40.35%	36.01%	31.75%	31.79%	34.69%
Capital Lease Obligations	764,666,667	1,006,200,000	651,900,000	434,600,000	325,950,000	260,760,000	217,300,000	0	1,160,000,000	1,134,000,000	1,315,000,000	1,422,000,000	1,488,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	3.05%	5.20%	3.33%	2.22%	1.66%	1.33%	1.11%	0.00%	3.43%	5.73%	8.29%	8.56%	7.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	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
Deferred Tax Liabilities 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%
Other Non-Current Liabilities	17,382,333,333	16,895,400,000	15,917,600,000	16,005,733,333	16,292,950,000	15,593,880,000	13,573,300,000	17,258,000,000	18,122,000,000	16,767,000,000	15,419,000,000	16,911,000,000	16,439,000,000	13,725,000,000	15,053,000,000	14,585,000,000	14,897,000,000	17,924,000,000	17,199,000,000	19,751,000,000	13,673,000,000	12,363,000,000	10,701,000,000	21,537,000,000	12,988,000,000	8,670,000,000	31,877,000,000	18,546,000,000	19,487,000,000	9,017,000,000	9,810,000,000	7,128,000,000	4,277,000,000	3,742,000,000	3,609,000,000	2,831,000,000	2,893,000,000
Other Non-Current Liabilities Margin	60.65%	76.20%	82.14%	91.50%	113.25%	130.39%	118.43%	43.63%	53.63%	84.68%	97.22%	101.85%	80.39%	72.98%	92.93%	95.52%	98.57%	121.26%	115.21%	134.15%	92.26%	88.27%	136.79%	137.00%	90.21%	95.67%	432.70%	298.36%	307.56%	156.65%	137.01%	95.22%	61.40%	64.60%	63.35%	49.55%	54.31%
Total Non-Current Liabilities	48,605,666,667	46,232,200,000	44,464,400,000	41,901,533,333	39,311,750,000	35,036,680,000	30,121,300,000	48,337,000,000	49,858,000,000	47,622,000,000	42,099,000,000	43,245,000,000	44,539,000,000	46,115,000,000	46,060,000,000	39,802,000,000	36,967,000,000	38,974,000,000	37,726,000,000	39,661,000,000	35,780,000,000	31,738,000,000	28,412,000,000	38,157,000,000	31,701,000,000	18,844,000,000	40,598,000,000	24,667,000,000	25,608,000,000	14,457,000,000	14,786,000,000	10,164,000,000	7,088,000,000	5,828,000,000	5,418,000,000	4,647,000,000	4,741,000,000
Total Non-Current Liabilities Margin	170.09%	207.23%	228.88%	236.17%	256.39%	260.89%	233.00%	122.21%	147.55%	240.52%	265.44%	260.45%	217.82%	245.20%	284.36%	260.67%	244.60%	263.66%	252.70%	269.38%	241.43%	226.60%	363.19%	242.71%	220.19%	207.95%	551.08%	396.83%	404.17%	251.16%	206.51%	135.77%	101.75%	100.60%	95.10%	81.34%	89.00%
Total Liabilities	369,401,666,667	386,553,000,000	357,325,600,000	338,838,466,667	291,374,650,000	248,477,080,000	216,309,333,333	374,300,000,000	368,972,000,000	364,933,000,000	401,047,000,000	423,513,000,000	339,780,000,000	322,005,000,000	330,012,000,000	293,889,000,000	354,805,000,000	346,600,000,000	336,006,000,000	321,548,000,000	291,065,000,000	214,102,000,000	183,221,000,000	209,423,000,000	168,253,000,000	91,777,000,000	92,242,000,000	85,239,000,000	83,969,000,000	71,056,000,000	74,708,000,000	69,462,000,000	68,113,000,000	56,755,000,000	53,959,000,000	50,038,000,000	48,488,000,000
Total Liabilities Margin	1,293.78%	1,792.14%	1,864.43%	1,927.76%	1,801.21%	1,677.06%	1,553.91%	946.33%	1,091.92%	1,843.10%	2,528.67%	2,550.67%	1,661.68%	1,712.16%	2,037.36%	1,924.74%	2,347.68%	2,344.74%	2,250.69%	2,183.98%	1,964.00%	1,528.64%	2,342.08%	1,332.12%	1,168.67%	1,012.77%	1,252.10%	1,371.28%	1,325.27%	1,234.47%	1,043.41%	927.89%	977.79%	979.72%	947.15%	875.86%	910.23%
Preferred Stock	4,508,000,000	4,580,600,000	3,962,300,000	2,921,000,000	2,330,050,000	1,864,080,000	1,561,000,000	4,343,000,000	4,343,000,000	4,838,000,000	4,838,000,000	4,541,000,000	3,542,000,000	3,542,000,000	3,542,000,000	3,542,000,000	2,552,000,000	1,562,000,000	1,562,000,000	1,068,000,000	0	0	0	2,786,000,000	0	0	0	0	0	0	0	1,000,000	1,000,000	1,000,000	1,000,000	112,000,000	113,000,000
Preferred Stock Margin	16.09%	21.22%	20.42%	15.50%	12.51%	10.01%	8.48%	10.98%	12.85%	24.43%	30.50%	27.35%	17.32%	18.83%	21.87%	23.20%	16.89%	10.57%	10.46%	7.25%	0.00%	0.00%	0.00%	17.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.02%	0.02%	1.96%	2.12%
Common Stock	14,000,000	14,000,000	13,800,000	13,400,000	404,150,000	1,839,760,000	1,777,633,333	14,000,000	14,000,000	14,000,000	14,000,000	14,000,000	14,000,000	14,000,000	14,000,000	13,000,000	13,000,000	13,000,000	13,000,000	13,000,000	12,000,000	12,000,000	12,000,000	11,000,000	11,000,000	10,000,000	7,838,000,000	7,836,000,000	7,800,000,000	7,453,000,000	7,431,000,000	7,391,000,000	7,335,000,000	0	0	0	0
Common Stock Margin	0.05%	0.06%	0.07%	0.08%	5.40%	27.56%	26.48%	0.04%	0.04%	0.07%	0.09%	0.08%	0.07%	0.07%	0.09%	0.09%	0.09%	0.09%	0.09%	0.09%	0.08%	0.09%	0.15%	0.07%	0.08%	0.11%	106.39%	126.06%	123.11%	129.48%	103.78%	98.73%	105.30%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	39,983,333,333	38,171,600,000	31,963,400,000	26,106,733,333	21,856,100,000	18,451,960,000	15,807,233,333	42,537,000,000	39,549,000,000	37,864,000,000	36,667,000,000	34,241,000,000	31,894,000,000	28,652,000,000	25,635,000,000	22,621,000,000	19,974,000,000	17,683,000,000	15,952,000,000	14,622,000,000	12,812,000,000	10,898,000,000	8,912,000,000	10,225,000,000	10,015,000,000	9,280,000,000	7,089,000,000	6,162,000,000	5,330,000,000	4,736,000,000	4,383,000,000	3,566,000,000	2,620,000,000	1,318,000,000	3,493,000,000	2,798,000,000	2,689,000,000
Retained Earnings Margin	138.61%	170.65%	160.01%	139.35%	126.87%	116.47%	104.43%	107.54%	117.04%	191.23%	231.19%	206.22%	155.98%	152.35%	158.26%	148.15%	132.16%	119.63%	106.85%	99.31%	86.45%	77.81%	113.92%	65.04%	69.56%	102.41%	96.23%	99.13%	84.12%	82.28%	61.22%	47.64%	37.61%	22.75%	61.31%	48.98%	50.48%
Accumulated OCI	-5,171,666,667	-3,742,600,000	-3,324,400,000	-2,626,333,333	-2,383,150,000	-1,887,760,000	-1,562,066,667	-4,656,000,000	-4,893,000,000	-5,966,000,000	-2,213,000,000	-985,000,000	-2,638,000,000	-3,171,000,000	-2,357,000,000	-3,765,000,000	-2,600,000,000	-1,634,000,000	-892,000,000	-643,000,000	-1,627,000,000	-1,355,000,000	-1,835,000,000	-5,401,000,000	-574,000,000	-317,000,000	-141,000,000	-6,000,000	71,000,000	131,000,000	74,000,000	199,000,000	20,000,000	312,000,000	0	0	0
Accumulated OCI Margin	-18.79%	-15.25%	-16.24%	-13.63%	-13.59%	-10.59%	-8.63%	-11.77%	-14.48%	-30.13%	-13.95%	-5.93%	-12.90%	-16.86%	-14.55%	-24.66%	-17.20%	-11.05%	-5.97%	-4.37%	-10.98%	-9.67%	-23.46%	-34.36%	-3.99%	-3.50%	-1.91%	-0.10%	1.12%	2.28%	1.03%	2.66%	0.29%	5.39%	0.00%	0.00%	0.00%
Minority Interest	232,333,333	274,600,000	405,000,000	594,866,667	449,400,000	419,520,000	496,266,667	446,000,000	135,000,000	116,000,000	357,000,000	319,000,000	245,000,000	230,000,000	495,000,000	769,000,000	938,000,000	1,262,000,000	1,013,000,000	1,011,000,000	784,000,000	803,000,000	26,000,000	39,000,000	0	0	0	0	0	0	0	1,500,000,000	1,500,000,000	1,300,000,000	1,000,000,000	600,000,000	0
Minority Interest Margin	0.70%	1.26%	2.30%	3.75%	2.84%	3.07%	4.96%	1.13%	0.40%	0.59%	2.25%	1.92%	1.20%	1.22%	3.06%	5.04%	6.21%	8.54%	6.79%	6.87%	5.29%	5.73%	0.33%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.04%	21.53%	22.44%	17.55%	10.50%	0.00%
Total Shareholders’ Equity	40,940,666,667	42,331,400,000	41,187,700,000	39,267,800,000	34,837,600,000	29,344,920,000	25,319,166,667	41,318,000,000	40,770,000,000	40,734,000,000	43,034,000,000	45,801,000,000	41,483,000,000	40,638,000,000	41,251,000,000	38,811,000,000	38,037,000,000	37,441,000,000	37,497,000,000	36,431,000,000	33,417,000,000	32,354,000,000	28,977,000,000	28,050,000,000	29,403,000,000	11,429,000,000	9,876,000,000	9,290,000,000	8,428,000,000	6,684,000,000	6,317,000,000	6,152,000,000	5,143,000,000	5,448,000,000	5,002,000,000	5,127,000,000	5,232,000,000
Total Shareholders’ Equity Margin	143.61%	195.60%	215.75%	224.39%	218.96%	197.93%	179.73%	104.46%	120.65%	205.73%	271.34%	275.84%	202.87%	216.08%	254.67%	254.18%	251.68%	253.29%	251.17%	247.44%	225.49%	231.00%	370.41%	178.42%	204.23%	126.12%	134.06%	149.45%	133.02%	116.12%	88.23%	82.18%	73.83%	94.04%	87.80%	89.74%	98.22%
Total Equity	41,173,000,000	42,606,000,000	41,592,700,000	39,862,666,667	35,287,000,000	29,764,440,000	25,815,433,333	41,764,000,000	40,905,000,000	40,850,000,000	43,391,000,000	46,120,000,000	41,728,000,000	40,868,000,000	41,746,000,000	39,580,000,000	38,975,000,000	38,703,000,000	38,510,000,000	37,442,000,000	34,201,000,000	33,157,000,000	29,003,000,000	28,089,000,000	29,403,000,000	11,429,000,000	9,876,000,000	9,290,000,000	8,428,000,000	6,684,000,000	6,317,000,000	7,652,000,000	6,643,000,000	6,748,000,000	6,002,000,000	5,727,000,000	5,232,000,000
Total Equity Margin	144.32%	196.86%	218.05%	228.14%	221.80%	201.00%	184.69%	105.59%	121.05%	206.31%	273.59%	277.76%	204.07%	217.30%	257.72%	259.22%	257.89%	261.83%	257.95%	254.31%	230.78%	236.73%	370.74%	178.67%	204.23%	126.12%	134.06%	149.45%	133.02%	116.12%	88.23%	102.22%	95.36%	116.49%	105.35%	100.25%	98.22%
Total Liabilities & Equity	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
Total Liabilities & Equity 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%
Total Investments	250,736,333,333	258,255,800,000	239,951,700,000	217,563,066,667	185,683,300,000	161,340,640,000	142,579,766,667	268,941,000,000	236,427,000,000	246,841,000,000	276,538,000,000	262,532,000,000	224,162,000,000	233,007,000,000	219,287,000,000	214,268,000,000	217,514,000,000	219,827,000,000	185,612,000,000	176,204,000,000	151,353,000,000	130,933,000,000	104,221,000,000	99,975,000,000	112,590,000,000	64,934,000,000	68,500,000,000	69,918,000,000	68,421,000,000	58,334,000,000	61,674,000,000	61,503,000,000	58,544,000,000	49,719,000,000	47,191,000,000	44,168,000,000	44,255,000,000
Total Investments Margin	875.43%	1,190.21%	1,248.26%	1,224.39%	1,138.12%	1,106.54%	1,059.82%	679.95%	699.67%	1,246.67%	1,743.62%	1,581.14%	1,096.25%	1,238.94%	1,353.79%	1,403.29%	1,439.25%	1,487.13%	1,243.30%	1,196.79%	1,021.28%	934.84%	1,332.24%	635.93%	782.04%	716.55%	929.82%	1,124.81%	1,079.88%	1,013.45%	861.37%	821.57%	840.42%	858.26%	828.35%	773.11%	830.77%
Net Debt	-66,535,333,333	-81,443,400,000	-71,677,400,000	-78,888,533,333	-66,640,750,000	-53,913,880,000	-44,844,700,000	-56,493,000,000	-78,948,000,000	-64,165,000,000	-83,090,000,000	-124,521,000,000	-71,223,000,000	-39,428,000,000	-59,626,000,000	-41,989,000,000	-97,291,000,000	-89,842,000,000	-115,848,000,000	-111,072,000,000	-102,355,000,000	-47,437,000,000	-46,325,000,000	-80,430,000,000	-16,473,000,000	-5,148,000,000	-1,111,000,000	-4,219,000,000	-4,135,000,000	-3,301,000,000	-746,000,000	-2,631,000,000	-2,172,000,000	-310,000,000	916,000,000	278,000,000	3,794,000,000
Net Debt Margin	-233.51%	-394.87%	-381.92%	-465.78%	-413.84%	-340.51%	-281.91%	-142.83%	-233.64%	-324.07%	-523.90%	-749.95%	-348.31%	-209.65%	-368.11%	-275.00%	-643.76%	-607.78%	-775.99%	-754.41%	-690.65%	-338.69%	-592.16%	-511.61%	-114.42%	-56.81%	-15.08%	-67.87%	-65.26%	-57.35%	-10.42%	-35.15%	-31.18%	-5.35%	16.08%	4.87%	71.22%

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	31,048,000,000	25,121,600,000	21,144,300,000	18,980,200,000	16,953,650,000	14,881,080,000	13,384,100,000	39,553,000,000	33,791,000,000	19,800,000,000	15,860,000,000	16,604,000,000	20,448,000,000	18,807,000,000	16,198,000,000	15,269,000,000	15,113,000,000	14,782,000,000	14,929,000,000	14,723,000,000	14,820,000,000	14,006,000,000	7,823,000,000	15,721,000,000	14,397,000,000	9,062,000,000	7,367,000,000	6,216,000,000	6,336,000,000	5,756,000,000	7,160,000,000	7,486,000,000	6,966,000,000	5,793,000,000	5,697,000,000	5,713,000,000	5,327,000,000
Working Capital	-88,989,000,000	-82,071,200,000	-68,543,000,000	-54,021,800,000	-45,839,400,000	-43,908,600,000	-42,594,533,333	-115,500,000,000	-69,047,000,000	-82,420,000,000	-83,878,000,000	-59,511,000,000	-43,597,000,000	-42,294,000,000	-54,306,000,000	-65,476,000,000	-69,401,000,000	-42,535,000,000	-33,870,000,000	-16,663,000,000	-17,637,000,000	-14,192,000,000	-19,451,000,000	-18,802,000,000	-20,467,000,000	-16,341,000,000	-31,400,000,000	-37,874,000,000	-35,783,000,000	-37,849,000,000	-36,780,000,000	-32,641,000,000	-36,482,000,000	-37,151,000,000	-34,854,000,000	-35,548,000,000	-36,086,000,000
Working Capital Margin	-304.20%	-359.98%	-346.13%	-287.29%	-271.32%	-328.31%	-376.14%	-292.01%	-204.34%	-416.26%	-528.87%	-358.41%	-213.21%	-224.88%	-335.26%	-428.82%	-459.21%	-287.75%	-226.87%	-113.18%	-119.01%	-101.33%	-248.64%	-119.60%	-142.16%	-180.32%	-426.23%	-609.30%	-564.76%	-657.56%	-513.69%	-436.03%	-523.72%	-641.31%	-611.80%	-622.23%	-677.42%
Total Capital	85,899,666,667	84,483,800,000	83,747,100,000	77,282,200,000	67,637,850,000	57,078,320,000	49,835,066,667	86,762,000,000	87,013,000,000	83,924,000,000	81,280,000,000	83,440,000,000	84,943,000,000	89,210,000,000	90,496,000,000	74,771,000,000	75,632,000,000	70,746,000,000	67,768,000,000	64,106,000,000	61,801,000,000	57,341,000,000	50,048,000,000	46,180,000,000	54,388,000,000	22,617,000,000	20,291,000,000	17,149,000,000	16,422,000,000	13,235,000,000	15,412,000,000	11,983,000,000	13,097,000,000	13,641,000,000	13,813,000,000	12,824,000,000	14,719,000,000
Total Capital Margin	300.24%	383.15%	435.43%	436.58%	419.25%	381.01%	356.40%	219.36%	257.50%	423.86%	512.48%	502.53%	415.41%	474.34%	558.69%	489.69%	500.44%	478.60%	453.94%	435.41%	417.01%	409.40%	639.75%	293.75%	377.77%	249.58%	275.43%	275.88%	259.19%	229.93%	215.25%	160.07%	188.01%	235.47%	242.46%	224.47%	276.31%
Capital Employed	89,778,666,667	88,838,200,000	86,057,100,000	81,764,200,000	74,598,750,000	64,801,120,000	55,936,733,333	90,101,000,000	90,763,000,000	88,472,000,000	85,490,000,000	89,365,000,000	86,267,000,000	86,983,000,000	87,806,000,000	79,382,000,000	75,942,000,000	77,677,000,000	76,236,000,000	77,103,000,000	69,981,000,000	64,895,000,000	57,415,000,000	66,246,000,000	61,104,000,000	30,273,000,000	50,474,000,000	33,957,000,000	34,036,000,000	21,141,000,000	21,103,000,000	17,816,000,000	13,731,000,000	12,576,000,000	11,420,000,000	10,374,000,000	9,973,000,000
Capital Employed Margin	314.41%	404.09%	446.93%	464.31%	478.18%	461.88%	417.69%	227.80%	268.60%	446.83%	539.03%	538.21%	421.88%	462.50%	542.08%	519.89%	502.49%	525.48%	510.66%	523.69%	472.21%	463.34%	733.93%	421.39%	424.42%	334.07%	685.14%	546.28%	537.18%	367.29%	294.73%	237.99%	197.11%	217.09%	200.46%	181.59%	187.22%
Invested Capital	-25,594,666,667	-39,112,000,000	-30,489,700,000	-39,620,733,333	-31,803,150,000	-24,568,960,000	-19,525,533,333	-15,175,000,000	-38,178,000,000	-23,431,000,000	-40,056,000,000	-78,720,000,000	-29,740,000,000	1,210,000,000	-18,375,000,000	-3,178,000,000	-59,254,000,000	-52,401,000,000	-78,351,000,000	-74,641,000,000	-68,938,000,000	-15,083,000,000	-17,348,000,000	-52,380,000,000	12,930,000,000	6,281,000,000	8,765,000,000	5,071,000,000	4,293,000,000	3,383,000,000	5,571,000,000	3,521,000,000	2,971,000,000	5,138,000,000	5,918,000,000	5,405,000,000	9,026,000,000
Invested Capital Margin	-89.90%	-199.27%	-166.17%	-241.39%	-194.88%	-142.59%	-102.18%	-38.37%	-112.98%	-118.34%	-252.56%	-474.10%	-145.44%	6.43%	-113.44%	-20.81%	-392.07%	-354.49%	-524.82%	-506.97%	-465.17%	-107.69%	-221.76%	-333.18%	89.81%	69.31%	118.98%	81.58%	67.76%	58.77%	77.81%	47.03%	42.65%	88.69%	103.88%	94.61%	169.44%

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	31,048,000,000	25,121,600,000	21,144,300,000	18,980,200,000	16,953,650,000	14,881,080,000	13,384,100,000	39,553,000,000	33,791,000,000	19,800,000,000	15,860,000,000	16,604,000,000	20,448,000,000	18,807,000,000	16,198,000,000	15,269,000,000	15,113,000,000	14,782,000,000	14,929,000,000	14,723,000,000	14,820,000,000	14,006,000,000	7,823,000,000	15,721,000,000	14,397,000,000	9,062,000,000	7,367,000,000	6,216,000,000	6,336,000,000	5,756,000,000	7,160,000,000	7,486,000,000	6,966,000,000	5,793,000,000	5,697,000,000	5,713,000,000	5,327,000,000
Net Income	3,463,000,000	3,553,000,000	3,726,700,000	3,295,400,000	2,905,050,000	2,574,880,000	2,297,666,667	4,530,000,000	3,286,000,000	2,573,000,000	3,759,000,000	3,617,000,000	4,441,000,000	4,266,000,000	4,090,000,000	3,547,000,000	3,158,000,000	2,567,000,000	2,111,000,000	2,445,000,000	2,480,000,000	2,561,000,000	442,000,000	1,419,000,000	2,227,000,000	3,011,000,000	1,571,000,000	1,440,000,000	1,157,000,000	902,000,000	1,343,000,000	1,429,000,000	328,000,000	1,192,000,000	1,104,000,000	1,020,000,000	914,000,000
Net Income Margin	11.39%	15.93%	19.34%	18.44%	18.06%	18.25%	17.86%	11.45%	9.72%	12.99%	23.70%	21.78%	21.72%	22.68%	25.25%	23.23%	20.90%	17.37%	14.14%	16.61%	16.73%	18.29%	5.65%	9.03%	15.47%	33.23%	21.32%	23.17%	18.26%	15.67%	18.76%	19.09%	4.71%	20.58%	19.38%	17.85%	17.16%
Depreciation & Amortization	1,775,333,333	1,764,600,000	1,591,000,000	1,415,600,000	1,233,450,000	1,053,680,000	912,633,333	1,803,000,000	1,887,000,000	1,636,000,000	1,867,000,000	1,630,000,000	1,315,000,000	1,339,000,000	1,474,000,000	1,502,000,000	1,457,000,000	1,292,000,000	1,381,000,000	1,246,000,000	776,000,000	629,000,000	711,000,000	878,000,000	826,000,000	494,000,000	526,000,000	480,000,000	430,000,000	232,000,000	284,000,000	247,000,000	215,000,000	187,000,000	200,000,000	237,000,000	198,000,000
Depreciation & Amortization Margin	6.14%	8.00%	8.21%	7.89%	7.57%	7.08%	6.49%	4.56%	5.58%	8.26%	11.77%	9.82%	6.43%	7.12%	9.10%	9.84%	9.64%	8.74%	9.25%	8.46%	5.24%	4.49%	9.09%	5.58%	5.74%	5.45%	7.14%	7.72%	6.79%	4.03%	3.97%	3.30%	3.09%	3.23%	3.51%	4.15%	3.72%
Deferred Income Tax	-191,000,000	-101,800,000	-104,900,000	-4,333,333	-38,300,000	44,960,000	81,066,667	-345,000,000	-383,000,000	155,000,000	257,000,000	-193,000,000	-69,000,000	-525,000,000	133,000,000	-126,000,000	47,000,000	-853,000,000	526,000,000	252,000,000	12,000,000	1,047,000,000	-1,395,000,000	497,000,000	-146,000,000	398,000,000	-55,000,000	383,000,000	428,000,000	96,000,000	453,000,000	530,000,000	454,000,000	260,000,000	257,000,000	100,000,000	237,000,000
Deferred Income Tax Margin	-0.41%	-0.15%	-0.36%	0.23%	-0.43%	0.78%	1.37%	-0.87%	-1.13%	0.78%	1.62%	-1.16%	-0.34%	-2.79%	0.82%	-0.83%	0.31%	-5.77%	3.52%	1.71%	0.08%	7.48%	-17.83%	3.16%	-1.01%	4.39%	-0.75%	6.16%	6.76%	1.67%	6.33%	7.08%	6.52%	4.49%	4.51%	1.75%	4.45%
Stock-Based Compensation	121,666,667	184,000,000	159,000,000	106,000,000	79,500,000	63,600,000	53,000,000	0	0	365,000,000	324,000,000	231,000,000	306,000,000	0	0	364,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.61%	1.06%	0.92%	0.61%	0.46%	0.37%	0.31%	0.00%	0.00%	1.84%	2.04%	1.39%	1.50%	0.00%	0.00%	2.38%	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%
Change in Working Capital	1,674,333,333	385,200,000	-269,200,000	-551,533,333	-454,100,000	-235,240,000	-295,000,000	-5,451,000,000	925,000,000	9,549,000,000	-2,803,000,000	-294,000,000	-5,539,000,000	934,000,000	-889,000,000	1,036,000,000	-160,000,000	1,695,000,000	-4,425,000,000	-1,623,000,000	-958,000,000	-270,000,000	1,192,000,000	145,000,000	1,022,000,000	-67,000,000	-3,101,000,000	1,068,000,000	1,677,000,000	1,124,000,000	3,663,000,000	-4,331,000,000	-2,432,000,000	0	-714,000,000	0	177,000,000
Change in Working Capital Margin	12.39%	3.55%	-0.41%	-2.78%	-3.07%	-0.19%	-1.63%	-13.78%	2.74%	48.23%	-17.67%	-1.77%	-27.09%	4.97%	-5.49%	6.78%	-1.06%	11.47%	-29.64%	-11.02%	-6.46%	-1.93%	15.24%	0.92%	7.10%	-0.74%	-42.09%	17.18%	26.47%	19.53%	51.16%	-57.85%	-34.91%	0.00%	-12.53%	0.00%	3.32%
Accounts Receivable	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
Accounts Receivable 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%
Inventory	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
Inventory 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%
Accounts Payable	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
Accounts Payable 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%
Other Working Capital	1,674,333,333	385,200,000	-269,200,000	-551,533,333	-540,550,000	-304,400,000	-352,633,333	-5,451,000,000	925,000,000	9,549,000,000	-2,803,000,000	-294,000,000	-5,539,000,000	934,000,000	-889,000,000	1,036,000,000	-160,000,000	1,695,000,000	-4,425,000,000	-1,623,000,000	-958,000,000	-270,000,000	1,192,000,000	430,000,000	-992,000,000	-67,000,000	-3,101,000,000	1,068,000,000	1,677,000,000	1,124,000,000	3,663,000,000	-4,331,000,000	-2,432,000,000	0	-714,000,000	0	177,000,000
Other Working Capital Margin	12.39%	3.55%	-0.41%	-2.78%	-3.67%	-0.68%	-2.04%	-13.78%	2.74%	48.23%	-17.67%	-1.77%	-27.09%	4.97%	-5.49%	6.78%	-1.06%	11.47%	-29.64%	-11.02%	-6.46%	-1.93%	15.24%	2.74%	-6.89%	-0.74%	-42.09%	17.18%	26.47%	19.53%	51.16%	-57.85%	-34.91%	0.00%	-12.53%	0.00%	3.32%
Other Non-Cash Items	379,000,000	123,600,000	-35,100,000	-100,666,667	36,550,000	72,480,000	67,500,000	150,000,000	197,000,000	790,000,000	-566,000,000	47,000,000	-358,000,000	-18,000,000	-141,000,000	-77,000,000	-375,000,000	-217,000,000	-235,000,000	-691,000,000	-99,000,000	83,000,000	2,831,000,000	-25,000,000	41,000,000	-553,000,000	-53,000,000	-24,000,000	120,000,000	803,000,000	223,000,000	-41,000,000	451,000,000	-73,000,000	-21,000,000	-445,000,000	301,000,000
Other Non-Cash Items Margin	1.65%	0.33%	-0.40%	-0.79%	0.88%	1.43%	1.28%	0.38%	0.58%	3.99%	-3.57%	0.28%	-1.75%	-0.10%	-0.87%	-0.50%	-2.48%	-1.47%	-1.57%	-4.69%	-0.67%	0.59%	36.19%	-0.16%	0.28%	-6.10%	-0.72%	-0.39%	1.89%	13.95%	3.11%	-0.55%	6.47%	-1.26%	-0.37%	-7.79%	5.65%
Net Cash from Operating Activities	7,222,333,333	5,908,600,000	5,067,500,000	4,160,466,667	3,762,150,000	3,574,360,000	3,116,866,667	687,000,000	5,912,000,000	15,068,000,000	2,838,000,000	5,038,000,000	96,000,000	5,996,000,000	4,667,000,000	6,246,000,000	4,127,000,000	4,484,000,000	-642,000,000	1,629,000,000	2,211,000,000	4,050,000,000	3,781,000,000	2,914,000,000	3,970,000,000	3,283,000,000	-1,112,000,000	3,347,000,000	3,812,000,000	3,157,000,000	5,966,000,000	-2,166,000,000	-984,000,000	1,566,000,000	826,000,000	912,000,000	1,827,000,000
Net Cash from Operating Activities Margin	31.78%	28.71%	27.29%	23.59%	23.47%	27.71%	25.68%	1.74%	17.50%	76.10%	17.89%	30.34%	0.47%	31.88%	28.81%	40.91%	27.31%	30.33%	-4.30%	11.06%	14.92%	28.92%	48.33%	18.54%	27.58%	36.23%	-15.09%	53.84%	60.16%	54.85%	83.32%	-28.93%	-14.13%	27.03%	14.50%	15.96%	34.30%
Capital Expenditures (PPE)	-1,345,000,000	-1,294,400,000	-1,141,300,000	-955,800,000	-781,150,000	-659,720,000	-577,133,333	-1,469,000,000	-1,220,000,000	-1,346,000,000	-1,215,000,000	-1,222,000,000	-1,210,000,000	-1,108,000,000	-1,197,000,000	-825,000,000	-601,000,000	-791,000,000	-609,000,000	-652,000,000	-642,000,000	-230,000,000	-318,000,000	-303,000,000	-313,000,000	-221,000,000	-131,000,000	-262,000,000	-129,000,000	-208,000,000	-165,000,000	-106,000,000	-587,000,000	-88,000,000	-45,000,000	-47,000,000	-54,000,000
Capital Expenditures (PPE) Margin	-4.71%	-5.83%	-5.77%	-5.17%	-4.50%	-4.14%	-3.87%	-3.71%	-3.61%	-6.80%	-7.66%	-7.36%	-5.92%	-5.89%	-7.39%	-5.40%	-3.98%	-5.35%	-4.08%	-4.43%	-4.33%	-1.64%	-4.06%	-1.93%	-2.17%	-2.44%	-1.78%	-4.21%	-2.04%	-3.61%	-2.30%	-1.42%	-8.43%	-1.52%	-0.79%	-0.82%	-1.01%
Acquisitions (Net)	148,666,667	-9,186,000,000	-8,029,100,000	-5,529,533,333	-4,124,100,000	-3,434,960,000	-2,843,566,667	0	0	446,000,000	-162,000,000	-46,214,000,000	-9,485,000,000	84,000,000	-24,931,000,000	-37,000,000	8,000,000	36,000,000	65,000,000	-29,000,000	-64,000,000	-2,660,000,000	-364,000,000	-201,000,000	1,431,000,000	-140,000,000	-265,000,000	-137,000,000	-1,844,000,000	-511,000,000	-614,000,000	-286,000,000	587,000,000	-166,000,000	45,000,000	47,000,000	54,000,000
Acquisitions (Net) Margin	0.75%	-55.42%	-47.71%	-33.07%	-24.86%	-21.99%	-18.05%	0.00%	0.00%	2.25%	-1.02%	-278.33%	-46.39%	0.45%	-153.91%	-0.24%	0.05%	0.24%	0.44%	-0.20%	-0.43%	-18.99%	-4.65%	-1.28%	9.94%	-1.54%	-3.60%	-2.20%	-29.10%	-8.88%	-8.58%	-3.82%	8.43%	-2.87%	0.79%	0.82%	1.01%
Purchases of Investments	-35,580,666,667	-53,596,600,000	-47,934,600,000	-46,823,533,333	-40,179,600,000	-35,462,280,000	-30,128,300,000	-48,146,000,000	-23,763,000,000	-34,833,000,000	-63,160,000,000	-98,081,000,000	-55,257,000,000	-37,400,000,000	-34,604,000,000	-34,257,000,000	-49,845,000,000	-72,852,000,000	-35,533,000,000	-47,265,000,000	-43,593,000,000	-23,764,000,000	-28,787,000,000	-11,647,000,000	-30,398,000,000	-11,894,000,000	-18,513,000,000	-16,717,000,000	-28,061,000,000	-21,155,000,000	-12,876,000,000	-4,156,000,000	-5,516,000,000	-3,573,000,000	-5,126,000,000	-1,661,000,000	-1,416,000,000
Purchases of Investments Margin	-122.66%	-271.38%	-259.38%	-273.97%	-257.26%	-258.40%	-224.88%	-121.73%	-70.32%	-175.92%	-398.23%	-590.71%	-270.23%	-198.86%	-213.63%	-224.36%	-329.82%	-492.84%	-238.01%	-321.03%	-294.15%	-169.67%	-367.98%	-74.09%	-211.14%	-131.25%	-251.30%	-268.94%	-442.88%	-367.53%	-179.83%	-55.52%	-79.18%	-61.68%	-89.98%	-29.07%	-26.58%
Sales / Maturities of Investments	40,245,000,000	49,089,600,000	44,984,000,000	40,804,466,667	34,778,300,000	30,683,600,000	26,014,466,667	38,799,000,000	41,316,000,000	40,620,000,000	56,923,000,000	67,790,000,000	54,728,000,000	35,689,000,000	29,889,000,000	36,398,000,000	47,688,000,000	51,506,000,000	34,575,000,000	30,238,000,000	28,746,000,000	17,162,000,000	13,260,000,000	11,329,000,000	24,082,000,000	16,965,000,000	17,863,000,000	14,732,000,000	24,054,000,000	19,163,000,000	8,176,000,000	5,399,000,000	2,361,000,000	3,430,000,000	1,773,000,000	1,920,000,000	3,860,000,000
Sales / Maturities of Investments Margin	141.84%	238.54%	238.86%	232.70%	216.45%	218.59%	189.84%	98.09%	122.27%	205.15%	358.91%	408.28%	267.64%	189.76%	184.52%	238.38%	315.54%	348.44%	231.60%	205.38%	193.97%	122.53%	169.50%	72.06%	167.27%	187.21%	242.47%	237.00%	379.64%	332.92%	114.19%	72.12%	33.89%	59.21%	31.12%	33.61%	72.46%
Other Investing Activities	-1,939,666,667	4,147,800,000	6,012,900,000	-1,526,133,333	-3,638,100,000	-2,718,400,000	-2,516,200,000	1,337,000,000	-22,143,000,000	14,987,000,000	27,286,000,000	-728,000,000	676,000,000	6,034,000,000	-207,000,000	49,924,000,000	-17,037,000,000	10,426,000,000	-11,698,000,000	-11,679,000,000	-64,625,000,000	-5,445,000,000	39,297,000,000	-55,153,000,000	-16,376,000,000	-11,062,000,000	-6,576,000,000	-150,000,000	-523,000,000	5,903,000,000	-987,000,000	559,000,000	2,089,000,000	-4,777,000,000	202,000,000	-192,000,000	-4,848,000,000
Other Investing Activities Margin	4.51%	36.24%	42.95%	-8.84%	-15.31%	-8.82%	-12.13%	3.38%	-65.53%	75.69%	172.04%	-4.38%	3.31%	32.08%	-1.28%	326.96%	-112.73%	70.53%	-78.36%	-79.32%	-436.07%	-38.88%	502.33%	-350.82%	-113.75%	-122.07%	-89.26%	-2.41%	-8.25%	102.55%	-13.78%	7.47%	29.99%	-82.46%	3.55%	-3.36%	-91.01%
Net Cash from Investing Activities	1,528,333,333	-10,839,600,000	-6,108,100,000	-14,030,533,333	-13,944,650,000	-11,591,760,000	-10,050,733,333	-9,479,000,000	-5,810,000,000	19,874,000,000	19,672,000,000	-78,455,000,000	-10,548,000,000	3,299,000,000	-31,050,000,000	51,203,000,000	-19,787,000,000	-11,675,000,000	-13,200,000,000	-29,387,000,000	-80,178,000,000	-14,937,000,000	23,088,000,000	-55,975,000,000	-21,574,000,000	-6,352,000,000	-7,622,000,000	-2,534,000,000	-6,503,000,000	3,192,000,000	-6,466,000,000	1,410,000,000	-1,066,000,000	-5,174,000,000	-3,151,000,000	67,000,000	-2,404,000,000
Net Cash from Investing Activities Margin	19.74%	-57.85%	-31.06%	-88.35%	-85.48%	-74.76%	-69.10%	-23.97%	-17.19%	100.37%	124.04%	-472.51%	-51.58%	17.54%	-191.69%	335.34%	-130.93%	-78.98%	-88.42%	-199.60%	-541.01%	-106.65%	295.13%	-356.05%	-149.85%	-70.09%	-103.46%	-40.77%	-102.64%	55.46%	-90.31%	18.84%	-15.30%	-89.31%	-55.31%	1.17%	-45.13%
Net Debt Issuance	1,973,000,000	94,600,000	241,300,000	648,000,000	702,250,000	539,000,000	452,366,667	-167,000,000	501,000,000	5,585,000,000	1,351,000,000	-6,797,000,000	-5,710,000,000	521,000,000	8,619,000,000	-2,423,000,000	933,000,000	349,000,000	943,000,000	2,714,000,000	2,582,000,000	719,000,000	-1,773,000,000	220,000,000	2,419,000,000	1,687,000,000	1,772,000,000	-505,000,000	1,401,000,000	-2,679,000,000	1,718,000,000	-505,000,000	659,000,000	-510,000,000	828,000,000	-2,488,000,000	1,607,000,000
Net Debt Issuance Margin	9.76%	-0.63%	1.52%	4.33%	5.15%	3.51%	2.99%	-0.42%	1.48%	28.21%	8.52%	-40.94%	-27.92%	2.77%	53.21%	-15.87%	6.17%	2.36%	6.32%	18.43%	17.42%	5.13%	-22.66%	1.40%	16.80%	18.62%	24.05%	-8.12%	22.11%	-46.54%	23.99%	-6.75%	9.46%	-8.80%	14.53%	-43.55%	30.17%
Long-Term Debt Issuance	2,043,666,667	892,000,000	1,159,700,000	867,000,000	965,100,000	824,360,000	704,233,333	-226,000,000	428,000,000	5,929,000,000	536,000,000	-2,207,000,000	-2,257,000,000	1,493,000,000	3,692,000,000	3,276,000,000	933,000,000	310,000,000	1,185,000,000	-1,402,000,000	2,582,000,000	-1,267,000,000	1,468,000,000	-1,435,000,000	3,486,000,000	960,000,000	1,818,000,000	-267,000,000	742,000,000	225,000,000	395,000,000	212,000,000	710,000,000	571,000,000	-23,000,000	84,000,000	-824,000,000
Long-Term Debt Issuance Margin	10.21%	4.15%	6.80%	5.13%	7.30%	6.63%	5.71%	-0.57%	1.27%	29.94%	3.38%	-13.29%	-11.04%	7.94%	22.79%	21.46%	6.17%	2.10%	7.94%	-9.52%	17.42%	-9.05%	18.77%	-9.13%	24.21%	10.59%	24.68%	-4.30%	11.71%	3.91%	5.52%	2.83%	10.19%	9.86%	-0.40%	1.47%	-15.47%
Short-Term Debt Issuance	-70,666,667	-797,400,000	-918,400,000	-219,000,000	-262,850,000	-285,360,000	-251,866,667	59,000,000	73,000,000	-344,000,000	815,000,000	-4,590,000,000	-3,453,000,000	-972,000,000	4,927,000,000	-5,699,000,000	0	39,000,000	-242,000,000	4,116,000,000	0	1,986,000,000	-3,241,000,000	1,655,000,000	-1,067,000,000	727,000,000	-46,000,000	-238,000,000	659,000,000	-2,904,000,000	1,323,000,000	-717,000,000	-51,000,000	-1,081,000,000	851,000,000	-2,572,000,000	2,431,000,000
Short-Term Debt Issuance Margin	-0.46%	-4.78%	-5.28%	-0.80%	-2.15%	-3.12%	-2.73%	0.15%	0.22%	-1.74%	5.14%	-27.64%	-16.89%	-5.17%	30.42%	-37.32%	0.00%	0.26%	-1.62%	27.96%	0.00%	14.18%	-41.43%	10.53%	-7.41%	8.02%	-0.62%	-3.83%	10.40%	-50.45%	18.48%	-9.58%	-0.73%	-18.66%	14.94%	-45.02%	45.64%
Net Stock Issuance	-2,086,333,333	-2,103,800,000	-2,215,500,000	-1,621,000,000	-1,221,850,000	-951,840,000	-918,900,000	-3,047,000,000	-3,088,000,000	-124,000,000	-4,267,000,000	7,000,000	-3,327,000,000	-3,229,000,000	-2,686,000,000	-1,381,000,000	-1,013,000,000	-1,669,000,000	-244,000,000	-55,000,000	-848,000,000	656,000,000	-1,657,000,000	2,511,000,000	-93,000,000	-709,000,000	-174,000,000	108,000,000	1,212,000,000	-40,000,000	-526,000,000	-113,000,000	-1,325,000,000	-370,000,000	-1,061,000,000	-922,000,000	-93,000,000
Net Stock Issuance Margin	-5.82%	-8.87%	-11.01%	-8.30%	-7.02%	-5.17%	-6.37%	-7.70%	-9.14%	-0.63%	-26.90%	0.04%	-16.27%	-17.17%	-16.58%	-9.04%	-6.70%	-11.29%	-1.63%	-0.37%	-5.72%	4.68%	-21.18%	15.97%	-0.65%	-7.82%	-2.36%	1.74%	19.13%	-0.69%	-7.35%	-1.51%	-19.02%	-6.39%	-18.62%	-16.14%	-1.75%
Common Stock Issuance	15,666,667	14,400,000	22,000,000	67,866,667	143,300,000	123,720,000	103,100,000	17,000,000	16,000,000	14,000,000	13,000,000	12,000,000	21,000,000	40,000,000	34,000,000	27,000,000	26,000,000	26,000,000	25,000,000	25,000,000	25,000,000	697,000,000	1,371,000,000	40,000,000	20,000,000	174,000,000	243,000,000	227,000,000	0	0	0	0	0	0	0	0	0
Common Stock Issuance Margin	0.05%	0.06%	0.12%	0.46%	1.50%	1.35%	1.12%	0.04%	0.05%	0.07%	0.08%	0.07%	0.10%	0.21%	0.21%	0.18%	0.17%	0.18%	0.17%	0.17%	0.17%	4.98%	17.53%	0.25%	0.14%	1.92%	3.30%	3.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Repurchased	-2,097,333,333	-2,369,600,000	-2,588,300,000	-2,042,666,667	-1,619,450,000	-1,300,320,000	-1,083,600,000	-3,064,000,000	-3,104,000,000	-124,000,000	-4,567,000,000	-989,000,000	-3,327,000,000	-3,269,000,000	-2,686,000,000	-2,398,000,000	-2,355,000,000	-1,669,000,000	-1,026,000,000	-1,148,000,000	-873,000,000	-41,000,000	-28,000,000	-308,000,000	-113,000,000	-883,000,000	-417,000,000	-119,000,000	0	0	0	0	0	0	0	0	0
Common Stock Repurchased Margin	-5.85%	-10.46%	-13.38%	-11.07%	-9.22%	-7.46%	-6.21%	-7.75%	-9.19%	-0.63%	-28.80%	-5.96%	-16.27%	-17.38%	-16.58%	-15.71%	-15.58%	-11.29%	-6.87%	-7.80%	-5.89%	-0.29%	-0.36%	-1.96%	-0.78%	-9.74%	-5.66%	-1.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	-4,666,667	251,400,000	219,200,000	215,600,000	150,650,000	120,520,000	100,433,333	0	0	-14,000,000	287,000,000	984,000,000	-21,000,000	0	-34,000,000	990,000,000	0	-26,000,000	0	1,068,000,000	0	0	-3,000,000,000	2,779,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	-0.02%	1.53%	1.38%	1.39%	0.01%	0.01%	0.01%	0.00%	0.00%	-0.07%	1.81%	5.93%	-0.10%	0.00%	-0.21%	6.48%	0.00%	-0.18%	0.00%	7.25%	0.00%	0.00%	-38.35%	17.68%	0.00%	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 Dividends Paid	-1,468,333,333	-1,404,800,000	-1,237,500,000	-1,041,733,333	-980,550,000	-893,640,000	-805,733,333	-1,542,000,000	-1,487,000,000	-1,376,000,000	-1,323,000,000	-1,296,000,000	-1,289,000,000	-1,221,000,000	-1,076,000,000	-900,000,000	-865,000,000	-833,000,000	-744,000,000	-641,000,000	-593,000,000	-440,000,000	-672,000,000	-1,129,000,000	-884,000,000	-656,000,000	-644,000,000	-608,000,000	-563,000,000	-549,000,000	-526,000,000	-484,000,000	-435,000,000	-403,000,000	-383,000,000	-338,000,000	-272,000,000
Net Dividends Paid Margin	-5.08%	-6.28%	-6.25%	-5.64%	-6.12%	-6.58%	-6.51%	-3.90%	-4.40%	-6.95%	-8.34%	-7.81%	-6.30%	-6.49%	-6.64%	-5.89%	-5.72%	-5.64%	-4.98%	-4.35%	-4.00%	-3.14%	-8.59%	-7.18%	-6.14%	-7.24%	-8.74%	-9.78%	-8.89%	-9.54%	-7.35%	-6.47%	-6.24%	-6.96%	-6.72%	-5.92%	-5.11%
Common Dividends Paid	-1,258,333,333	-1,203,600,000	-1,062,900,000	-915,000,000	-880,750,000	-813,800,000	-739,200,000	-1,348,000,000	-1,262,000,000	-1,165,000,000	-1,126,000,000	-1,117,000,000	-1,120,000,000	-1,052,000,000	-901,000,000	-778,000,000	-760,000,000	-760,000,000	-680,000,000	-623,000,000	-593,000,000	-440,000,000	-599,000,000	-1,107,000,000	-884,000,000	-656,000,000	-644,000,000	-608,000,000	-563,000,000	-549,000,000	-526,000,000	-484,000,000	-435,000,000	-403,000,000	-383,000,000	-338,000,000	-272,000,000
Common Dividends Paid Margin	-4.34%	-5.37%	-5.36%	-4.98%	-5.58%	-6.14%	-6.15%	-3.41%	-3.73%	-5.88%	-7.10%	-6.73%	-5.48%	-5.59%	-5.56%	-5.10%	-5.03%	-5.14%	-4.55%	-4.23%	-4.00%	-3.14%	-7.66%	-7.04%	-6.14%	-7.24%	-8.74%	-9.78%	-8.89%	-9.54%	-7.35%	-6.47%	-6.24%	-6.96%	-6.72%	-5.92%	-5.11%
Preferred Dividends Paid	-210,000,000	-201,200,000	-174,600,000	-126,733,333	-99,800,000	-79,840,000	-66,533,333	-194,000,000	-225,000,000	-211,000,000	-197,000,000	-179,000,000	-169,000,000	-169,000,000	-175,000,000	-122,000,000	-105,000,000	-73,000,000	-64,000,000	-18,000,000	0	0	-73,000,000	-22,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Dividends Paid Margin	-0.74%	-0.91%	-0.88%	-0.66%	-0.55%	-0.44%	-0.37%	-0.49%	-0.67%	-1.07%	-1.24%	-1.08%	-0.83%	-0.90%	-1.08%	-0.80%	-0.69%	-0.49%	-0.43%	-0.12%	0.00%	0.00%	-0.93%	-0.14%	0.00%	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 Financing Activities	-8,696,666,667	7,937,000,000	3,900,800,000	11,893,666,667	11,698,400,000	9,372,440,000	8,259,966,667	11,094,000,000	555,000,000	-37,739,000,000	-17,773,000,000	83,548,000,000	19,785,000,000	-4,169,000,000	21,923,000,000	-54,346,000,000	16,130,000,000	9,982,000,000	15,666,000,000	26,270,000,000	77,624,000,000	9,855,000,000	-23,871,000,000	50,151,000,000	20,026,000,000	2,157,000,000	7,100,000,000	500,000,000	-201,000,000	-1,462,000,000	-244,000,000	1,750,000,000	2,415,000,000	3,199,000,000	2,604,000,000	4,122,000,000	1,148,000,000
Other Financing Activities Margin	-53.64%	46.04%	19.09%	75.73%	70.46%	56.34%	54.60%	28.05%	1.64%	-190.60%	-112.06%	503.18%	96.76%	-22.17%	135.34%	-355.92%	106.73%	67.53%	104.94%	178.43%	523.78%	70.36%	-305.14%	319.01%	139.10%	23.80%	96.38%	8.04%	-3.17%	-25.40%	-3.41%	23.38%	34.67%	55.22%	45.71%	72.15%	21.55%
Net Cash from Financing Activities	-10,278,333,333	4,542,200,000	698,700,000	9,885,333,333	10,203,050,000	8,069,800,000	6,990,900,000	6,338,000,000	-3,519,000,000	-33,654,000,000	-21,962,000,000	75,508,000,000	9,459,000,000	-8,098,000,000	26,780,000,000	-59,050,000,000	15,185,000,000	7,829,000,000	15,621,000,000	28,288,000,000	78,765,000,000	10,790,000,000	-27,973,000,000	51,753,000,000	21,468,000,000	2,479,000,000	8,054,000,000	-505,000,000	1,849,000,000	-4,730,000,000	422,000,000	648,000,000	1,314,000,000	1,916,000,000	1,988,000,000	374,000,000	2,390,000,000
Net Cash from Financing Activities Margin	-54.79%	30.38%	3.42%	66.16%	62.49%	48.13%	44.72%	16.02%	-10.41%	-169.97%	-138.47%	454.76%	46.26%	-43.06%	165.33%	-386.73%	100.48%	52.96%	104.64%	192.13%	531.48%	77.04%	-357.57%	329.20%	149.11%	27.36%	109.33%	-8.12%	29.18%	-82.18%	5.89%	8.66%	18.86%	33.07%	34.90%	6.55%	44.87%
Effect of FX on Cash	92,333,333	50,800,000	30,100,000	-7,266,667	-22,250,000	-29,360,000	-25,400,000	-311,000,000	230,000,000	358,000,000	-84,000,000	61,000,000	2,000,000	-72,000,000	189,000,000	-114,000,000	42,000,000	-128,000,000	-46,000,000	22,000,000	-298,000,000	40,000,000	-53,000,000	-438,000,000	-69,000,000	-85,000,000	309,000,000	-265,000,000	-63,000,000	-93,000,000	175,000,000	-43,000,000	13,000,000	-78,000,000	74,000,000	-32,000,000	-5,000,000
Effect of FX on Cash Margin	0.57%	0.31%	0.19%	-0.06%	-0.08%	-0.26%	-0.24%	-0.79%	0.68%	1.81%	-0.53%	0.37%	0.01%	-0.38%	1.17%	-0.75%	0.28%	-0.87%	-0.31%	0.15%	-2.01%	0.29%	-0.68%	-2.79%	-0.48%	-0.94%	4.19%	-4.26%	-0.99%	-1.62%	2.44%	-0.57%	0.19%	-1.35%	1.30%	-0.56%	-0.09%
Net Change in Cash	-1,435,333,333	-338,000,000	-314,400,000	6,266,667	-3,000,000	22,000,000	30,766,667	-2,765,000,000	-3,187,000,000	1,646,000,000	464,000,000	2,152,000,000	-991,000,000	1,125,000,000	560,000,000	-1,715,000,000	-433,000,000	510,000,000	1,733,000,000	552,000,000	500,000,000	-57,000,000	-1,157,000,000	-1,746,000,000	3,795,000,000	-675,000,000	-371,000,000	43,000,000	-905,000,000	1,526,000,000	97,000,000	-151,000,000	-723,000,000	-1,770,000,000	-263,000,000	1,321,000,000	1,808,000,000
Net Change in Cash Margin	-2.70%	1.56%	-0.17%	1.34%	0.40%	0.81%	1.06%	-6.99%	-9.43%	8.31%	2.93%	12.96%	-4.85%	5.98%	3.46%	-11.23%	-2.87%	3.45%	11.61%	3.75%	3.37%	-0.41%	-14.79%	-11.11%	26.36%	-7.45%	-5.04%	0.69%	-14.28%	26.51%	1.35%	-2.02%	-10.38%	-30.55%	-4.62%	23.12%	33.94%
Cash at Beginning of Period	9,918,000,000	9,288,000,000	8,016,000,000	6,861,933,333	6,234,700,000	5,716,320,000	5,544,066,667	8,342,000,000	11,529,000,000	9,883,000,000	9,419,000,000	7,267,000,000	8,258,000,000	7,133,000,000	4,822,000,000	6,537,000,000	6,970,000,000	6,460,000,000	4,727,000,000	4,175,000,000	3,675,000,000	3,732,000,000	4,889,000,000	6,635,000,000	2,840,000,000	3,515,000,000	3,886,000,000	3,843,000,000	4,748,000,000	3,222,000,000	3,125,000,000	3,276,000,000	3,999,000,000	5,769,000,000	6,032,000,000	4,711,000,000	2,903,000,000
Cash at Beginning of Period Margin	35.04%	41.66%	40.53%	37.36%	38.82%	42.26%	48.55%	21.09%	34.12%	49.91%	59.39%	43.77%	40.39%	37.93%	29.77%	42.81%	46.12%	43.70%	31.66%	28.36%	24.80%	26.65%	62.50%	42.20%	19.73%	38.79%	52.75%	61.82%	74.94%	55.98%	43.65%	43.76%	57.41%	99.59%	105.88%	82.46%	54.50%
Cash at End of Period	8,482,666,667	8,950,000,000	7,701,600,000	6,868,200,000	6,231,700,000	5,738,320,000	5,574,833,333	5,577,000,000	8,342,000,000	11,529,000,000	9,883,000,000	9,419,000,000	7,267,000,000	8,258,000,000	5,382,000,000	4,822,000,000	6,537,000,000	6,970,000,000	6,460,000,000	4,727,000,000	4,175,000,000	3,675,000,000	3,732,000,000	4,889,000,000	6,635,000,000	2,840,000,000	3,515,000,000	3,886,000,000	3,843,000,000	4,748,000,000	3,222,000,000	3,125,000,000	3,276,000,000	3,999,000,000	5,769,000,000	6,032,000,000	4,711,000,000
Cash at End of Period Margin	32.34%	43.21%	40.36%	38.70%	39.22%	43.07%	49.61%	14.10%	24.69%	58.23%	62.31%	56.73%	35.54%	43.91%	33.23%	31.58%	43.25%	47.15%	43.27%	32.11%	28.17%	26.24%	47.71%	31.10%	46.09%	31.34%	47.71%	62.52%	60.65%	82.49%	45.00%	41.74%	47.03%	69.03%	101.26%	105.58%	88.44%
Operating Cash Flow	7,222,333,333	5,908,600,000	5,064,900,000	4,158,733,333	3,760,850,000	3,573,320,000	3,116,000,000	687,000,000	5,912,000,000	15,068,000,000	2,838,000,000	5,038,000,000	96,000,000	5,996,000,000	4,641,000,000	6,246,000,000	4,127,000,000	4,484,000,000	-642,000,000	1,629,000,000	2,211,000,000	4,050,000,000	3,781,000,000	2,914,000,000	3,970,000,000	3,283,000,000	-1,112,000,000	3,347,000,000	3,812,000,000	3,157,000,000	5,966,000,000	-2,166,000,000	-984,000,000	1,566,000,000	826,000,000	912,000,000	1,827,000,000
Operating Cash Flow Margin	31.78%	28.71%	27.28%	23.58%	23.46%	27.70%	25.67%	1.74%	17.50%	76.10%	17.89%	30.34%	0.47%	31.88%	28.65%	40.91%	27.31%	30.33%	-4.30%	11.06%	14.92%	28.92%	48.33%	18.54%	27.58%	36.23%	-15.09%	53.84%	60.16%	54.85%	83.32%	-28.93%	-14.13%	27.03%	14.50%	15.96%	34.30%
Capital Expenditure	-1,345,000,000	-1,294,400,000	-1,141,300,000	-955,800,000	-781,150,000	-659,720,000	-577,133,333	-1,469,000,000	-1,220,000,000	-1,346,000,000	-1,215,000,000	-1,222,000,000	-1,210,000,000	-1,108,000,000	-1,197,000,000	-825,000,000	-601,000,000	-791,000,000	-609,000,000	-652,000,000	-642,000,000	-230,000,000	-318,000,000	-303,000,000	-313,000,000	-221,000,000	-131,000,000	-262,000,000	-129,000,000	-208,000,000	-165,000,000	-106,000,000	-587,000,000	-88,000,000	-45,000,000	-47,000,000	-54,000,000
Capital Expenditure Margin	-4.71%	-5.83%	-5.77%	-5.17%	-4.50%	-4.14%	-3.87%	-3.71%	-3.61%	-6.80%	-7.66%	-7.36%	-5.92%	-5.89%	-7.39%	-5.40%	-3.98%	-5.35%	-4.08%	-4.43%	-4.33%	-1.64%	-4.06%	-1.93%	-2.17%	-2.44%	-1.78%	-4.21%	-2.04%	-3.61%	-2.30%	-1.42%	-8.43%	-1.52%	-0.79%	-0.82%	-1.01%
Free Cash Flow	5,877,333,333	4,614,200,000	3,923,600,000	3,202,933,333	2,979,700,000	2,913,600,000	2,538,866,667	-782,000,000	4,692,000,000	13,722,000,000	1,623,000,000	3,816,000,000	-1,114,000,000	4,888,000,000	3,444,000,000	5,421,000,000	3,526,000,000	3,693,000,000	-1,251,000,000	977,000,000	1,569,000,000	3,820,000,000	3,463,000,000	2,611,000,000	3,657,000,000	3,062,000,000	-1,243,000,000	3,085,000,000	3,683,000,000	2,949,000,000	5,801,000,000	-2,272,000,000	-1,571,000,000	1,478,000,000	781,000,000	865,000,000	1,773,000,000
Free Cash Flow Margin	27.07%	22.89%	21.51%	18.41%	18.97%	23.56%	21.80%	-1.98%	13.89%	69.30%	10.23%	22.98%	-5.45%	25.99%	21.26%	35.50%	23.33%	24.98%	-8.38%	6.64%	10.59%	27.27%	44.27%	16.61%	25.40%	33.79%	-16.87%	49.63%	58.13%	51.23%	81.02%	-30.35%	-22.55%	25.51%	13.71%	15.14%	33.28%

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	31,048,000,000	25,121,600,000	21,144,300,000	18,980,200,000	16,953,650,000	14,881,080,000	13,384,100,000	39,553,000,000	33,791,000,000	19,800,000,000	15,860,000,000	16,604,000,000	20,448,000,000	18,807,000,000	16,198,000,000	15,269,000,000	15,113,000,000	14,782,000,000	14,929,000,000	14,723,000,000	14,820,000,000	14,006,000,000	7,823,000,000	15,721,000,000	14,397,000,000	9,062,000,000	7,367,000,000	6,216,000,000	6,336,000,000	5,756,000,000	7,160,000,000	7,486,000,000	6,966,000,000	5,793,000,000	5,697,000,000	5,713,000,000	5,327,000,000
EBITDA	6,359,666,667	6,338,400,000	6,312,800,000	5,764,533,333	4,849,700,000	4,318,000,000	3,954,233,333	7,651,000,000	6,170,000,000	5,258,000,000	6,515,000,000	6,098,000,000	6,902,000,000	6,531,000,000	6,084,000,000	6,227,000,000	5,692,000,000	4,855,000,000	5,166,000,000	4,603,000,000	4,393,000,000	4,323,000,000	-1,497,000,000	2,824,000,000	4,035,000,000	2,660,000,000	2,504,000,000	2,320,000,000	2,192,000,000	1,604,000,000	2,342,000,000	2,498,000,000	3,055,000,000	2,078,000,000	1,973,000,000	1,891,000,000	1,680,000,000
EBITDA Margin	21.39%	28.39%	32.64%	32.38%	28.79%	29.67%	30.69%	19.34%	18.26%	26.56%	41.08%	36.73%	33.75%	34.73%	37.56%	40.78%	37.66%	32.84%	34.60%	31.26%	29.64%	30.87%	-19.14%	17.96%	28.03%	29.35%	33.99%	37.32%	34.60%	27.87%	32.71%	33.37%	43.86%	35.87%	34.63%	33.10%	31.54%
(-) Tax Adjustment	1,511,134,576	1,382,370,186	1,304,262,021	1,341,028,503	1,233,353,180	1,137,407,193	1,083,361,703	1,707,345,246	1,410,326,874	1,415,731,609	1,229,271,730	1,149,175,470	1,383,611,956	1,179,907,165	654,590,889	1,551,148,995	1,361,510,272	1,242,705,585	2,177,461,477	1,154,520,703	1,272,840,476	1,225,279,101	945,794,837	712,530,319	1,238,738,725	850,709,677	803,862,487	740,130,435	752,644,722	549,475,219	813,668,610	912,197,246	1,184,350,352	768,123,744	744,465,313	724,845,224	643,886,640
(-) Tax Adjustment Margin	5.21%	6.06%	6.66%	7.65%	8.01%	8.69%	9.51%	4.32%	4.17%	7.15%	7.75%	6.92%	6.77%	6.27%	4.04%	10.16%	9.01%	8.41%	14.59%	7.84%	8.59%	8.75%	12.09%	4.53%	8.60%	9.39%	10.91%	11.91%	11.88%	9.55%	11.36%	12.19%	17.00%	13.26%	13.07%	12.69%	12.09%
(-) Change In Working Capital	1,674,333,333	385,200,000	-269,200,000	-551,533,333	-454,100,000	-235,240,000	-295,000,000	-5,451,000,000	925,000,000	9,549,000,000	-2,803,000,000	-294,000,000	-5,539,000,000	934,000,000	-889,000,000	1,036,000,000	-160,000,000	1,695,000,000	-4,425,000,000	-1,623,000,000	-958,000,000	-270,000,000	1,192,000,000	145,000,000	1,022,000,000	-67,000,000	-3,101,000,000	1,068,000,000	1,677,000,000	1,124,000,000	3,663,000,000	-4,331,000,000	-2,432,000,000	0	-714,000,000	0	177,000,000
(-) Change In Working Capital Margin	12.39%	3.55%	-0.41%	-2.78%	-3.07%	-0.19%	-1.63%	-13.78%	2.74%	48.23%	-17.67%	-1.77%	-27.09%	4.97%	-5.49%	6.78%	-1.06%	11.47%	-29.64%	-11.02%	-6.46%	-1.93%	15.24%	0.92%	7.10%	-0.74%	-42.09%	17.18%	26.47%	19.53%	51.16%	-57.85%	-34.91%	0.00%	-12.53%	0.00%	3.32%
(-) Capital Expenditure	-1,345,000,000	-1,294,400,000	-1,141,300,000	-955,800,000	-781,150,000	-659,720,000	-577,133,333	-1,469,000,000	-1,220,000,000	-1,346,000,000	-1,215,000,000	-1,222,000,000	-1,210,000,000	-1,108,000,000	-1,197,000,000	-825,000,000	-601,000,000	-791,000,000	-609,000,000	-652,000,000	-642,000,000	-230,000,000	-318,000,000	-303,000,000	-313,000,000	-221,000,000	-131,000,000	-262,000,000	-129,000,000	-208,000,000	-165,000,000	-106,000,000	-587,000,000	-88,000,000	-45,000,000	-47,000,000	-54,000,000
(-) Capital Expenditure Margin	-4.71%	-5.83%	-5.77%	-5.17%	-4.50%	-4.14%	-3.87%	-3.71%	-3.61%	-6.80%	-7.66%	-7.36%	-5.92%	-5.89%	-7.39%	-5.40%	-3.98%	-5.35%	-4.08%	-4.43%	-4.33%	-1.64%	-4.06%	-1.93%	-2.17%	-2.44%	-1.78%	-4.21%	-2.04%	-3.61%	-2.30%	-1.42%	-8.43%	-1.52%	-0.79%	-0.82%	-1.01%
Unlevered Free Cash Flow	1,829,198,757	3,276,429,814	4,136,437,979	4,019,238,163	3,289,296,820	2,756,112,807	2,588,738,297	9,925,654,754	2,614,673,126	-7,052,731,609	6,873,728,270	4,020,824,530	9,847,388,044	3,309,092,835	5,121,409,111	2,814,851,005	3,889,489,728	1,126,294,415	6,804,538,523	4,419,479,297	3,436,159,524	3,137,720,899	-3,952,794,837	1,663,469,681	1,461,261,275	1,655,290,323	4,670,137,513	249,869,565	-366,644,722	-277,475,219	-2,299,668,610	5,810,802,754	3,715,649,648	1,221,876,256	1,897,534,687	1,119,154,776	805,113,360
Unlevered Free Cash Flow Margin	-0.93%	12.95%	20.63%	22.34%	19.35%	17.04%	18.94%	25.09%	7.74%	-35.62%	43.34%	24.22%	48.16%	17.60%	31.62%	18.44%	25.74%	7.62%	45.58%	30.02%	23.19%	22.40%	-50.53%	10.58%	10.15%	18.27%	63.39%	4.02%	-5.79%	-4.82%	-32.12%	77.62%	53.34%	21.09%	33.31%	19.59%	15.11%
(-) Net Interest Income After Taxes	3,087,376,476	2,760,427,457	2,692,027,815	2,483,099,598	2,381,300,675	2,113,967,078	1,951,573,020	3,349,763,338	3,351,828,158	2,560,537,931	2,124,027,108	2,415,980,752	2,548,916,413	2,958,627,504	2,952,085,033	2,356,322,540	2,302,189,374	2,142,823,463	1,740,710,882	2,227,314,567	2,119,407,244	2,095,959,664	4,756,677,989	2,137,638,746	1,555,788,491	1,019,596,313	909,817,998	787,891,848	1,056,534,052	1,094,628,280	1,096,979,106	1,187,130,164	1,041,563,028	1,040,714,966	1,155,059,222	1,209,322,854	1,251,353,576
(-) Net Interest Income After Taxes Margin	10.44%	11.85%	13.64%	13.79%	15.79%	15.81%	16.44%	8.47%	9.92%	12.93%	13.39%	14.55%	12.47%	15.73%	18.22%	15.43%	15.23%	14.50%	11.66%	15.13%	14.30%	14.96%	60.80%	13.60%	10.81%	11.25%	12.35%	12.68%	16.68%	19.02%	15.32%	15.86%	14.95%	17.97%	20.27%	21.17%	23.49%
Net Debt Issuance	1,973,000,000	94,600,000	241,300,000	648,000,000	702,250,000	539,000,000	452,366,667	-167,000,000	501,000,000	5,585,000,000	1,351,000,000	-6,797,000,000	-5,710,000,000	521,000,000	8,619,000,000	-2,423,000,000	933,000,000	349,000,000	943,000,000	2,714,000,000	2,582,000,000	719,000,000	-1,773,000,000	220,000,000	2,419,000,000	1,687,000,000	1,772,000,000	-505,000,000	1,401,000,000	-2,679,000,000	1,718,000,000	-505,000,000	659,000,000	-510,000,000	828,000,000	-2,488,000,000	1,607,000,000
Net Debt Issuance Margin	9.76%	-0.63%	1.52%	4.33%	5.15%	3.51%	2.99%	-0.42%	1.48%	28.21%	8.52%	-40.94%	-27.92%	2.77%	53.21%	-15.87%	6.17%	2.36%	6.32%	18.43%	17.42%	5.13%	-22.66%	1.40%	16.80%	18.62%	24.05%	-8.12%	22.11%	-46.54%	23.99%	-6.75%	9.46%	-8.80%	14.53%	-43.55%	30.17%
Levered Free Cash Flow	714,822,281	610,602,357	1,685,710,164	2,184,138,565	1,610,246,145	1,181,145,729	1,089,531,943	6,408,891,416	-236,155,032	-4,028,269,540	6,100,701,162	-5,192,156,222	1,588,471,631	871,465,331	10,788,324,078	-1,964,471,534	2,520,300,354	-667,529,049	6,006,827,641	4,906,164,730	3,898,752,281	1,760,761,234	-10,482,472,826	-254,169,065	2,324,472,784	2,322,694,009	5,532,319,515	-1,043,022,283	-22,178,774	-4,051,103,499	-1,678,647,716	4,118,672,590	3,333,086,620	-328,838,710	1,570,475,465	-2,578,168,077	1,160,759,784
Levered Free Cash Flow Margin	-1.61%	0.47%	8.52%	12.87%	8.72%	4.74%	5.49%	16.20%	-0.70%	-20.34%	38.47%	-31.27%	7.77%	4.63%	66.60%	-12.87%	16.68%	-4.52%	40.24%	33.32%	26.31%	12.57%	-134.00%	-1.62%	16.15%	25.63%	75.10%	-16.78%	-0.35%	-70.38%	-23.44%	55.02%	47.85%	-5.68%	27.57%	-45.13%	21.79%