Becton, Dickinson and Company (BDX)

Analysis: Margins & Ratios Industry: Medical - Instruments & Supplies Sector: Healthcare Live Price: $207.11

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	20,463,000,000	19,878,000,000	17,331,300,000	14,359,133,333	12,433,538,700	10,847,934,800	9,564,410,133	21,839,000,000	20,178,000,000	21,839,000,000	20,178,000,000	19,372,000,000	18,870,000,000	19,131,000,000	16,074,000,000	17,290,000,000	15,983,000,000	12,093,000,000	12,483,000,000	10,282,000,000	8,446,000,000	8,054,000,000	7,708,000,000	7,584,000,000	7,124,385,000	6,986,722,000	7,074,942,000	6,359,708,000	5,738,017,000	5,414,681,000	4,934,745,000	4,463,509,000	3,960,359,000	3,754,302,000	3,618,334,000	3,418,400,000	3,116,900,000	2,810,500,000	2,769,800,000
Cost of Revenue	11,390,000,000	11,012,600,000	9,467,500,000	7,711,333,333	6,586,100,400	5,725,752,120	4,996,706,000	11,915,000,000	11,025,000,000	11,915,000,000	11,053,000,000	11,202,000,000	10,393,000,000	10,500,000,000	9,276,000,000	9,002,000,000	8,714,000,000	6,128,000,000	6,492,000,000	5,587,000,000	4,145,000,000	3,883,000,000	3,755,000,000	3,625,000,000	3,428,308,000	3,311,676,000	3,446,838,000	3,071,921,000	2,793,265,000	2,662,029,000	2,500,362,000	2,296,637,000	2,049,475,000	1,913,292,000	1,560,077,000	1,452,800,000	1,312,300,000	1,203,500,000	1,228,700,000
Cost of Revenue Margin	55.72%	55.42%	54.41%	52.82%	51.67%	51.50%	50.08%	54.56%	54.64%	54.56%	54.78%	57.83%	55.08%	54.88%	57.71%	52.06%	54.52%	50.67%	52.01%	54.34%	49.08%	48.21%	48.72%	47.80%	48.12%	47.40%	48.72%	48.30%	48.68%	49.16%	50.67%	51.45%	51.75%	50.96%	43.12%	42.50%	42.10%	42.82%	44.36%
Gross Profit	9,073,000,000	8,865,400,000	7,863,800,000	6,647,800,000	5,847,438,300	5,122,182,680	4,567,704,133	9,924,000,000	9,153,000,000	9,924,000,000	9,125,000,000	8,170,000,000	8,477,000,000	8,631,000,000	6,798,000,000	8,288,000,000	7,269,000,000	5,965,000,000	5,991,000,000	4,695,000,000	4,301,000,000	4,171,000,000	3,953,000,000	3,959,000,000	3,696,077,000	3,675,046,000	3,628,104,000	3,287,787,000	2,944,752,000	2,752,652,000	2,434,383,000	2,166,872,000	1,910,884,000	1,841,010,000	2,058,257,000	1,965,600,000	1,804,600,000	1,607,000,000	1,541,100,000
Gross Profit Margin	44.28%	44.58%	45.59%	47.18%	48.33%	48.50%	49.92%	45.44%	45.36%	45.44%	45.22%	42.17%	44.92%	45.12%	42.29%	47.94%	45.48%	49.33%	47.99%	45.66%	50.92%	51.79%	51.28%	52.20%	51.88%	52.60%	51.28%	51.70%	51.32%	50.84%	49.33%	48.55%	48.25%	49.04%	56.88%	57.50%	57.90%	57.18%	55.64%
R&D Expenses	1,230,333,333	1,245,200,000	1,092,900,000	903,133,333	771,594,350	663,297,480	581,957,300	1,264,000,000	1,190,000,000	1,264,000,000	1,190,000,000	1,237,000,000	1,256,000,000	1,279,000,000	1,039,000,000	1,062,000,000	1,004,000,000	770,000,000	828,000,000	632,000,000	550,000,000	494,000,000	472,000,000	470,000,000	422,767,000	404,567,000	395,631,000	360,050,000	301,872,000	271,626,000	235,649,000	224,237,000	207,204,000	211,834,000	223,782,000	254,000,000	217,900,000	180,600,000	0
R&D Expenses Margin	6.02%	6.28%	6.33%	6.29%	6.13%	5.93%	5.85%	5.79%	5.90%	5.79%	5.90%	6.39%	6.66%	6.69%	6.46%	6.14%	6.28%	6.37%	6.63%	6.15%	6.51%	6.13%	6.12%	6.20%	5.93%	5.79%	5.59%	5.66%	5.26%	5.02%	4.78%	5.02%	5.23%	5.64%	6.18%	7.43%	6.99%	6.43%	0.00%
SG&A Expenses	4,951,000,000	4,856,200,000	4,272,800,000	3,573,666,667	3,086,145,450	2,706,265,080	2,403,314,300	5,277,000,000	4,858,000,000	5,277,000,000	4,857,000,000	4,719,000,000	4,709,000,000	4,719,000,000	4,185,000,000	4,332,000,000	4,016,000,000	2,909,000,000	3,005,000,000	2,563,000,000	2,145,000,000	2,422,000,000	1,923,000,000	1,824,000,000	1,690,932,000	1,680,797,000	1,695,610,000	1,602,404,000	1,448,166,000	1,449,856,000	1,311,467,000	1,181,403,000	1,007,696,000	983,296,000	973,902,000	931,900,000	861,600,000	766,100,000	909,300,000
SG&A Expenses Margin	24.20%	24.44%	24.66%	25.06%	24.91%	25.18%	25.72%	24.16%	24.08%	24.16%	24.07%	24.36%	24.95%	24.67%	26.04%	25.05%	25.13%	24.06%	24.07%	24.93%	25.40%	30.07%	24.95%	24.05%	23.73%	24.06%	23.97%	25.20%	25.24%	26.78%	26.58%	26.47%	25.44%	26.19%	26.92%	27.26%	27.64%	27.26%	32.83%
Operating Expenses	6,711,333,333	6,542,000,000	5,988,800,000	4,920,600,000	4,199,361,450	3,647,760,200	3,256,641,467	7,347,000,000	6,558,000,000	7,347,000,000	6,728,000,000	6,059,000,000	6,195,000,000	6,381,000,000	5,886,000,000	6,528,000,000	5,760,000,000	4,443,000,000	4,561,000,000	3,621,000,000	2,695,000,000	2,917,000,000	2,395,000,000	2,293,000,000	2,113,699,000	2,085,364,000	2,091,241,000	2,084,587,000	1,803,338,000	1,722,482,000	1,647,116,000	1,405,640,000	1,236,408,000	1,195,130,000	1,485,939,000	1,444,800,000	1,308,200,000	1,156,500,000	1,109,800,000
Operating Expenses Margin	32.75%	32.89%	34.81%	34.19%	33.30%	33.03%	34.41%	33.64%	32.50%	33.64%	33.34%	31.28%	32.83%	33.35%	36.62%	37.76%	36.04%	36.74%	36.54%	35.22%	31.91%	36.22%	31.07%	30.23%	29.67%	29.85%	29.56%	32.78%	31.43%	31.81%	33.38%	31.49%	31.22%	31.83%	41.07%	42.27%	41.97%	41.15%	40.07%
Operating Income (EBIT)	2,362,000,000	2,323,600,000	1,875,100,000	1,727,266,667	1,648,126,850	1,474,462,480	1,311,096,000	2,578,000,000	2,595,000,000	2,578,000,000	2,397,000,000	2,111,000,000	2,282,000,000	2,250,000,000	912,000,000	1,760,000,000	1,509,000,000	1,522,000,000	1,430,000,000	1,074,000,000	1,606,000,000	1,254,000,000	1,558,000,000	1,666,000,000	1,582,378,000	1,589,682,000	1,536,863,000	1,203,200,000	1,141,414,000	1,030,170,000	787,267,000	761,232,000	674,476,000	645,880,000	572,318,000	520,800,000	496,400,000	450,500,000	431,300,000
Operating Income (EBIT) Margin	11.53%	11.69%	10.78%	13.00%	15.02%	15.47%	15.51%	11.80%	12.86%	11.80%	11.88%	10.90%	12.09%	11.76%	5.67%	10.18%	9.44%	12.59%	11.46%	10.45%	19.01%	15.57%	20.21%	21.97%	22.21%	22.75%	21.72%	18.92%	19.89%	19.03%	15.95%	17.05%	17.03%	17.20%	15.82%	15.24%	15.93%	16.03%	15.57%
Interest Income	83,333,333	55,000,000	45,600,000	43,369,467	37,909,350	30,327,480	25,272,900	38,000,000	163,000,000	38,000,000	163,000,000	49,000,000	16,000,000	9,000,000	7,000,000	12,000,000	65,000,000	76,000,000	21,000,000	15,000,000	46,000,000	40,000,000	50,333,000	43,209,000	35,129,000	33,148,000	39,368,000	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.41%	0.27%	0.27%	0.34%	0.33%	0.26%	0.22%	0.17%	0.81%	0.17%	0.81%	0.25%	0.08%	0.05%	0.04%	0.07%	0.41%	0.63%	0.17%	0.15%	0.54%	0.50%	0.65%	0.57%	0.49%	0.47%	0.56%	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	531,000,000	492,000,000	524,200,000	407,000,000	311,649,750	249,319,800	207,766,500	613,000,000	528,000,000	613,000,000	528,000,000	452,000,000	398,000,000	469,000,000	528,000,000	639,000,000	706,000,000	521,000,000	388,000,000	371,000,000	135,000,000	138,000,000	135,000,000	84,000,000	51,263,000	40,389,000	36,343,000	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	2.59%	2.46%	3.11%	2.73%	2.14%	1.71%	1.42%	2.81%	2.62%	2.81%	2.62%	2.33%	2.11%	2.45%	3.28%	3.70%	4.42%	4.31%	3.11%	3.61%	1.60%	1.71%	1.75%	1.11%	0.72%	0.58%	0.51%	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 Interest Income	-447,666,667	-437,000,000	-478,600,000	-363,666,667	-273,767,500	-219,014,000	-182,511,667	-575,000,000	-365,000,000	-575,000,000	-365,000,000	-403,000,000	-382,000,000	-460,000,000	-521,000,000	-627,000,000	-641,000,000	-445,000,000	-367,000,000	-356,000,000	-89,000,000	-98,000,000	-85,000,000	-41,000,000	-16,134,000	-7,241,000	3,025,000	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-2.17%	-2.19%	-2.84%	-2.39%	-1.81%	-1.44%	-1.20%	-2.63%	-1.81%	-2.63%	-1.81%	-2.08%	-2.02%	-2.40%	-3.24%	-3.63%	-4.01%	-3.68%	-2.94%	-3.46%	-1.05%	-1.22%	-1.10%	-0.54%	-0.23%	-0.10%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	960,000,000	955,800,000	970,000,000	734,030,533	553,538,100	451,435,600	390,242,467	1,271,000,000	926,000,000	1,271,000,000	757,000,000	852,000,000	881,000,000	1,018,000,000	1,019,000,000	1,211,000,000	977,000,000	991,000,000	723,000,000	691,000,000	173,000,000	187,000,000	170,667,000	88,791,000	31,771,000	18,332,000	-4,566,000	-745,000	15,512,000	25,316,000	34,399,000	39,274,000	47,009,000	69,130,000	52,384,000	148,200,000	155,500,000	27,800,000	37,500,000
Unusual Items Margin	4.66%	4.79%	5.74%	4.79%	3.64%	3.11%	3.03%	5.82%	4.59%	5.82%	3.75%	4.40%	4.67%	5.32%	6.34%	7.00%	6.11%	8.19%	5.79%	6.72%	2.05%	2.32%	2.21%	1.17%	0.45%	0.26%	-0.06%	-0.01%	0.27%	0.47%	0.70%	0.88%	1.19%	1.84%	1.45%	4.34%	4.99%	0.99%	1.35%
EBT Excluding Unusual Items	889,666,667	849,000,000	413,700,000	622,836,133	814,791,050	790,583,600	713,104,667	611,000,000	1,108,000,000	611,000,000	1,248,000,000	810,000,000	902,000,000	674,000,000	-605,000,000	-35,000,000	196,000,000	-15,000,000	351,000,000	48,000,000	1,349,000,000	978,000,000	1,301,333,000	1,529,209,000	1,534,970,000	1,560,259,000	1,542,970,000	1,204,690,000	1,110,390,000	979,538,000	718,469,000	682,684,000	580,458,000	507,620,000	467,550,000	224,400,000	185,400,000	394,900,000	356,300,000
EBT Excluding Unusual Items Margin	4.39%	4.29%	2.14%	5.80%	9.55%	10.69%	10.65%	2.80%	5.49%	2.80%	6.18%	4.18%	4.78%	3.52%	-3.76%	-0.20%	1.23%	-0.12%	2.81%	0.47%	15.97%	12.14%	16.88%	20.16%	21.55%	22.33%	21.81%	18.94%	19.35%	18.09%	14.56%	15.29%	14.66%	13.52%	12.92%	6.56%	5.95%	14.05%	12.86%
Pre-Tax Income	1,849,666,667	1,804,800,000	1,383,700,000	1,356,866,667	1,368,329,150	1,242,019,200	1,103,347,133	1,882,000,000	2,034,000,000	1,882,000,000	2,005,000,000	1,662,000,000	1,783,000,000	1,692,000,000	414,000,000	1,176,000,000	1,173,000,000	976,000,000	1,074,000,000	739,000,000	1,522,000,000	1,165,000,000	1,472,000,000	1,618,000,000	1,566,741,000	1,578,591,000	1,538,404,000	1,203,945,000	1,125,902,000	1,004,854,000	752,868,000	721,958,000	627,467,000	576,750,000	519,934,000	372,600,000	340,900,000	422,700,000	393,800,000
Pre-Tax Income Margin	9.04%	9.09%	7.88%	10.59%	13.19%	13.80%	13.68%	8.62%	10.08%	8.62%	9.94%	8.58%	9.45%	8.84%	2.58%	6.80%	7.34%	8.07%	8.60%	7.19%	18.02%	14.46%	19.10%	21.33%	21.99%	22.59%	21.74%	18.93%	19.62%	18.56%	15.26%	16.17%	15.84%	15.36%	14.37%	10.90%	10.94%	15.04%	14.22%
Income Tax Expense	212,000,000	174,400,000	171,200,000	207,266,667	252,662,500	239,587,040	218,357,100	204,000,000	307,000,000	204,000,000	300,000,000	132,000,000	148,000,000	88,000,000	62,000,000	-57,000,000	862,000,000	-124,000,000	97,000,000	44,000,000	337,000,000	236,000,000	363,000,000	417,000,000	451,897,000	411,246,000	422,537,000	347,778,000	310,792,000	312,571,000	170,364,000	167,028,000	148,115,000	138,348,000	127,037,000	96,900,000	104,300,000	122,600,000	110,200,000
Income Tax Expense Margin	1.03%	0.87%	0.95%	1.81%	2.81%	3.06%	3.15%	0.93%	1.52%	0.93%	1.49%	0.68%	0.78%	0.46%	0.39%	-0.33%	5.39%	-1.03%	0.78%	0.43%	3.99%	2.93%	4.71%	5.50%	6.34%	5.89%	5.97%	5.47%	5.42%	5.77%	3.45%	3.74%	3.74%	3.69%	3.51%	2.83%	3.35%	4.36%	3.98%
Net Income	1,622,333,333	1,747,600,000	1,323,200,000	1,256,400,000	1,208,226,100	1,071,315,080	942,392,467	1,678,000,000	1,726,000,000	1,678,000,000	1,705,000,000	1,484,000,000	1,779,000,000	2,092,000,000	874,000,000	1,233,000,000	311,000,000	1,100,000,000	976,000,000	695,000,000	1,185,000,000	1,293,000,000	1,170,000,000	1,271,000,000	1,317,610,000	1,231,603,000	1,126,996,000	890,033,000	752,280,000	722,263,000	467,402,000	547,056,000	479,982,000	401,652,000	392,897,000	275,700,000	236,600,000	300,100,000	283,600,000
Net Income Margin	7.93%	8.83%	7.56%	9.62%	11.18%	11.26%	10.96%	7.68%	8.55%	7.68%	8.45%	7.66%	9.43%	10.94%	5.44%	7.13%	1.95%	9.10%	7.82%	6.76%	14.03%	16.05%	15.18%	16.76%	18.49%	17.63%	15.93%	13.99%	13.11%	13.34%	9.47%	12.26%	12.12%	10.70%	10.86%	8.07%	7.59%	10.68%	10.24%
Depreciation and Amortization	2,345,333,333	2,299,000,000	2,004,300,000	1,536,466,667	1,266,190,850	1,080,262,880	939,757,567	2,462,000,000	2,144,000,000	2,462,000,000	2,286,000,000	2,288,000,000	2,229,000,000	2,230,000,000	2,115,000,000	2,253,000,000	1,978,000,000	1,088,000,000	1,114,000,000	891,000,000	562,000,000	546,000,000	511,000,000	494,000,000	491,416,000	464,604,000	477,124,000	441,341,000	402,332,000	387,496,000	357,224,000	335,759,000	296,576,000	305,700,000	288,255,000	258,900,000	228,700,000	209,800,000	200,500,000
Depreciation and Amortization Margin	11.47%	11.58%	11.44%	9.97%	9.19%	8.86%	8.63%	11.27%	10.63%	11.27%	11.33%	11.81%	11.81%	11.66%	13.16%	13.03%	12.38%	9.00%	8.92%	8.67%	6.65%	6.78%	6.63%	6.51%	6.90%	6.65%	6.74%	6.94%	7.01%	7.16%	7.24%	7.52%	7.49%	8.14%	7.97%	7.57%	7.34%	7.46%	7.24%
EBITDA	4,726,000,000	4,595,800,000	3,912,200,000	3,300,333,333	2,955,679,750	2,587,815,000	2,278,428,267	4,957,000,000	4,706,000,000	4,957,000,000	4,819,000,000	4,402,000,000	4,410,000,000	4,391,000,000	3,057,000,000	4,068,000,000	3,857,000,000	2,585,000,000	2,576,000,000	2,001,000,000	2,219,000,000	1,849,000,000	2,118,000,000	2,196,000,000	2,109,420,000	2,083,584,000	2,051,871,000	1,766,674,000	1,597,046,000	1,417,666,000	1,144,491,000	1,096,991,000	971,052,000	951,580,000	860,573,000	779,700,000	725,100,000	660,300,000	631,800,000
EBITDA Margin	23.10%	23.13%	22.43%	23.30%	24.67%	24.69%	24.45%	22.70%	23.32%	22.70%	23.88%	22.72%	23.37%	22.95%	19.02%	23.53%	24.13%	21.38%	20.64%	19.46%	26.27%	22.96%	27.48%	28.96%	29.61%	29.82%	29.00%	27.78%	27.83%	26.18%	23.19%	24.58%	24.52%	25.35%	23.78%	22.81%	23.26%	23.49%	22.81%
NOPAT	2,093,414,279	2,101,160,297	1,654,282,845	1,480,911,698	1,365,595,973	1,208,883,770	1,067,163,385	2,298,556,854	2,203,325,959	2,298,556,854	2,038,346,633	1,943,339,350	2,092,579,921	2,132,978,723	775,420,290	1,845,306,122	400,084,399	1,715,368,852	1,300,847,300	1,010,054,127	1,250,400,788	999,970,815	1,173,792,120	1,236,629,172	1,125,970,801	1,175,546,633	1,114,749,250	855,637,205	826,340,095	709,724,177	609,118,965	585,117,796	515,264,420	490,949,430	432,481,864	385,358,454	344,524,025	319,836,882	310,606,094
NOPAT Margin	10.22%	10.58%	9.55%	10.94%	12.02%	12.20%	12.06%	10.53%	10.92%	10.53%	10.10%	10.03%	11.09%	11.15%	4.82%	10.67%	2.50%	14.18%	10.42%	9.82%	14.80%	12.42%	15.23%	16.31%	15.80%	16.83%	15.76%	13.45%	14.40%	13.11%	12.34%	13.11%	13.01%	13.08%	11.95%	11.27%	11.05%	11.38%	11.21%
Owner's Earnings	3,181,333,333	3,142,600,000	2,468,700,000	2,018,808,400	1,742,577,000	1,507,791,600	1,268,542,333	3,380,000,000	3,145,000,000	3,380,000,000	3,266,000,000	2,898,000,000	3,035,000,000	3,134,000,000	2,218,000,000	2,529,000,000	1,394,000,000	1,461,000,000	1,372,000,000	953,000,000	1,094,000,000	1,251,000,000	1,127,294,000	1,169,832,000	1,187,258,000	1,001,105,000	953,131,000	752,646,000	675,274,000	792,131,000	558,908,000	630,469,000	525,144,000	336,598,000	304,780,000	-151,200,000	-252,600,000	138,800,000	321,700,000
Owner's Earnings Margin	15.54%	15.82%	13.93%	13.81%	13.76%	13.50%	11.66%	15.48%	15.59%	15.48%	16.19%	14.96%	16.08%	16.38%	13.80%	14.63%	8.72%	12.08%	10.99%	9.27%	12.95%	15.53%	14.62%	15.43%	16.66%	14.33%	13.47%	11.83%	11.77%	14.63%	11.33%	14.12%	13.26%	8.97%	8.42%	-4.42%	-8.10%	4.94%	11.61%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	20,463,000,000	19,878,000,000	17,331,300,000	14,359,133,333	12,433,538,700	10,847,934,800	9,564,410,133	21,839,000,000	20,178,000,000	19,372,000,000	18,870,000,000	19,131,000,000	16,074,000,000	17,290,000,000	15,983,000,000	12,093,000,000	12,483,000,000	10,282,000,000	8,446,000,000	8,054,000,000	7,708,000,000	7,584,000,000	7,124,385,000	6,986,722,000	7,074,942,000	6,359,708,000	5,738,017,000	5,414,681,000	4,934,745,000	4,463,509,000	3,960,359,000	3,754,302,000	3,618,334,000	3,418,400,000	3,116,900,000	2,810,500,000	2,769,800,000
Cash & Cash Equivalents	1,328,000,000	1,454,600,000	2,749,400,000	2,367,696,467	2,023,396,400	1,723,013,040	1,450,517,400	851,000,000	1,717,000,000	1,416,000,000	1,006,000,000	2,283,000,000	2,825,000,000	536,000,000	1,140,000,000	14,179,000,000	1,541,000,000	1,424,000,000	1,861,000,000	1,890,000,000	1,671,165,000	1,175,282,000	1,215,989,000	1,394,244,000	830,477,000	511,482,000	1,000,289,000	1,042,890,000	719,378,000	519,886,000	243,115,000	82,129,000	49,196,000	59,900,000	83,300,000	112,600,000	135,200,000
Cash & Cash Equivalents Margin	6.57%	7.40%	19.44%	19.39%	18.26%	16.76%	14.45%	3.90%	8.51%	7.31%	5.33%	11.93%	17.57%	3.10%	7.13%	117.25%	12.34%	13.85%	22.03%	23.47%	21.68%	15.50%	17.07%	19.96%	11.74%	8.04%	17.43%	19.26%	14.58%	11.65%	6.14%	2.19%	1.36%	1.75%	2.67%	4.01%	4.88%
Short-Term Investments	153,666,667	96,200,000	95,100,000	236,373,133	254,486,600	208,603,200	174,178,033	8,000,000	445,000,000	8,000,000	8,000,000	12,000,000	20,000,000	30,000,000	17,000,000	37,000,000	366,000,000	95,000,000	884,000,000	718,000,000	509,566,000	388,031,000	528,206,000	551,561,000	199,942,000	158,040,000	106,386,000	86,808,000	32,119,000	0	1,850,000	4,571,000	5,561,000	4,700,000	0	0	0
Short-Term Investments Margin	0.76%	0.48%	0.60%	2.54%	3.03%	2.52%	2.11%	0.04%	2.21%	0.04%	0.04%	0.06%	0.12%	0.17%	0.11%	0.31%	2.93%	0.92%	10.47%	8.91%	6.61%	5.12%	7.41%	7.89%	2.83%	2.49%	1.85%	1.60%	0.65%	0.00%	0.05%	0.12%	0.15%	0.14%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	1,481,666,667	1,550,800,000	2,844,500,000	2,604,069,600	2,277,883,000	1,931,616,240	1,624,695,433	859,000,000	2,162,000,000	1,424,000,000	1,014,000,000	2,295,000,000	2,845,000,000	566,000,000	1,157,000,000	14,216,000,000	1,907,000,000	1,519,000,000	2,745,000,000	2,608,000,000	2,180,731,000	1,563,313,000	1,744,195,000	1,945,805,000	1,030,419,000	669,522,000	1,106,675,000	1,129,698,000	751,497,000	519,886,000	244,965,000	86,700,000	54,757,000	64,600,000	83,300,000	112,600,000	135,200,000
Cash & Short-Term Investments Margin	7.33%	7.87%	20.04%	21.93%	21.28%	19.28%	16.56%	3.93%	10.71%	7.35%	5.37%	12.00%	17.70%	3.27%	7.24%	117.56%	15.28%	14.77%	32.50%	32.38%	28.29%	20.61%	24.48%	27.85%	14.56%	10.53%	19.29%	20.86%	15.23%	11.65%	6.19%	2.31%	1.51%	1.89%	2.67%	4.01%	4.88%
Net Receivables	2,853,666,667	2,620,400,000	2,352,600,000	2,008,309,133	1,777,331,350	1,579,317,000	1,431,658,167	2,994,000,000	3,033,000,000	2,534,000,000	2,191,000,000	2,350,000,000	2,398,000,000	2,345,000,000	2,319,000,000	1,744,000,000	1,618,000,000	1,693,000,000	1,187,000,000	1,240,000,000	1,250,000,000	1,228,637,000	1,205,377,000	1,168,662,000	1,079,051,000	1,083,152,000	885,748,000	842,806,000	807,380,000	772,067,000	745,998,000	768,047,000	751,720,000	812,500,000	726,600,000	595,700,000	580,300,000
Net Receivables Margin	13.94%	13.14%	13.61%	14.29%	14.79%	15.37%	16.48%	13.71%	15.03%	13.08%	11.61%	12.28%	14.92%	13.56%	14.51%	14.42%	12.96%	16.47%	14.05%	15.40%	16.22%	16.20%	16.92%	16.73%	15.25%	17.03%	15.44%	15.57%	16.36%	17.30%	18.84%	20.46%	20.78%	23.77%	23.31%	21.20%	20.95%
Inventory	3,670,000,000	3,395,400,000	2,828,700,000	2,375,243,400	2,046,943,650	1,786,162,160	1,578,427,667	3,894,000,000	3,843,000,000	3,273,000,000	3,224,000,000	2,743,000,000	2,743,000,000	2,579,000,000	2,451,000,000	1,818,000,000	1,719,000,000	1,959,000,000	1,495,000,000	1,402,000,000	1,240,679,000	1,244,972,000	1,145,337,000	1,156,762,000	1,080,426,000	1,051,959,000	875,738,000	775,949,000	738,778,000	795,014,000	697,696,000	707,744,000	678,676,000	642,500,000	536,800,000	438,300,000	402,500,000
Inventory Margin	17.92%	17.04%	16.13%	16.53%	16.38%	16.45%	16.54%	17.83%	19.05%	16.90%	17.09%	14.34%	17.06%	14.92%	15.34%	15.03%	13.77%	19.05%	17.70%	17.41%	16.10%	16.42%	16.08%	16.56%	15.27%	16.54%	15.26%	14.33%	14.97%	17.81%	17.62%	18.85%	18.76%	18.80%	17.22%	15.60%	14.53%
Other Current Assets	1,461,000,000	987,600,000	596,100,000	406,466,667	304,850,000	254,239,880	240,550,700	1,508,000,000	1,430,000,000	1,445,000,000	153,000,000	402,000,000	92,000,000	55,000,000	233,000,000	0	643,000,000	0	1,000,000	0	135,000,000	0	0	0	0	0	0	0	63,694,000	195,303,000	0	0	175,524,000	164,100,000	196,100,000	166,000,000	158,800,000
Other Current Assets Margin	7.15%	4.87%	3.19%	2.24%	1.68%	1.57%	2.23%	6.91%	7.09%	7.46%	0.81%	2.10%	0.57%	0.32%	1.46%	0.00%	5.15%	0.00%	0.01%	0.00%	1.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.29%	4.38%	0.00%	0.00%	4.85%	4.80%	6.29%	5.91%	5.73%
Total Current Assets	9,466,333,333	9,075,600,000	9,340,200,000	8,096,093,467	7,026,205,000	6,086,838,640	5,321,584,767	9,255,000,000	10,468,000,000	8,676,000,000	8,141,000,000	8,838,000,000	8,969,000,000	6,644,000,000	7,411,000,000	18,633,000,000	6,367,000,000	6,045,000,000	6,131,000,000	5,873,000,000	5,322,071,000	4,668,331,000	4,505,250,000	4,646,954,000	3,614,675,000	3,130,566,000	3,185,253,000	2,975,314,000	2,641,334,000	2,338,569,000	1,928,707,000	1,762,942,000	1,660,677,000	1,683,700,000	1,542,800,000	1,312,600,000	1,276,800,000
Total Current Assets Margin	46.35%	45.68%	57.41%	60.60%	59.73%	58.04%	56.28%	42.38%	51.88%	44.79%	43.14%	46.20%	55.80%	38.43%	46.37%	154.08%	51.01%	58.79%	72.59%	72.92%	69.05%	61.55%	63.24%	66.51%	51.09%	49.22%	55.51%	54.95%	53.53%	52.39%	48.70%	46.96%	45.90%	49.25%	49.50%	46.70%	46.10%
Property, Plant & Equipment	6,791,666,667	6,478,000,000	5,788,600,000	5,036,141,667	4,449,230,300	3,925,033,800	3,497,683,433	6,997,000,000	6,821,000,000	6,557,000,000	6,012,000,000	6,003,000,000	5,923,000,000	5,659,000,000	5,375,000,000	4,638,000,000	3,901,000,000	4,060,000,000	3,605,000,000	3,476,000,000	3,303,928,000	3,211,197,000	3,100,492,000	2,966,629,000	2,744,474,000	2,497,338,000	2,133,548,000	1,933,718,000	1,880,997,000	1,844,771,000	1,765,730,000	1,716,023,000	1,576,058,000	1,431,100,000	1,302,700,000	1,250,700,000	1,244,100,000
Property, Plant & Equipment Margin	33.23%	32.59%	33.57%	36.42%	37.37%	38.12%	38.99%	32.04%	33.80%	33.85%	31.86%	31.38%	36.85%	32.73%	33.63%	38.35%	31.25%	39.49%	42.68%	43.16%	42.86%	42.34%	43.52%	42.46%	38.79%	39.27%	37.18%	35.71%	38.12%	41.33%	44.59%	45.71%	43.56%	41.86%	41.79%	44.50%	44.92%
Goodwill	28,003,333,333	26,503,400,000	21,809,500,000	15,326,546,533	11,654,817,950	9,341,112,440	7,784,260,367	33,023,000,000	26,465,000,000	24,522,000,000	24,621,000,000	23,886,000,000	23,620,000,000	23,376,000,000	23,600,000,000	7,563,000,000	7,419,000,000	7,537,000,000	1,090,000,000	1,109,000,000	1,076,077,000	991,121,000	763,961,000	621,872,000	625,768,000	621,414,000	565,146,000	0	0	0	0	431,452,000	0	0	0	0	0
Goodwill Margin	136.32%	132.86%	121.61%	89.54%	69.56%	56.11%	46.75%	151.21%	131.16%	126.58%	130.48%	124.85%	146.95%	135.20%	147.66%	62.54%	59.43%	73.30%	12.91%	13.77%	13.96%	13.07%	10.72%	8.90%	8.84%	9.77%	9.85%	0.00%	0.00%	0.00%	0.00%	11.49%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	8,286,000,000	9,990,200,000	10,742,600,000	7,961,269,000	6,126,356,150	5,034,961,240	4,293,396,467	2,994,000,000	10,917,000,000	10,947,000,000	12,309,000,000	12,784,000,000	13,813,000,000	14,977,000,000	16,441,000,000	5,893,000,000	6,351,000,000	7,387,000,000	1,126,000,000	1,206,000,000	1,158,866,000	1,115,169,000	793,401,000	603,873,000	571,692,000	613,455,000	525,667,000	571,607,000	755,218,000	648,501,000	902,251,000	469,331,000	639,063,000	1,034,700,000	746,300,000	331,900,000	175,900,000
Intangible Assets Margin	41.44%	51.28%	63.14%	50.75%	40.40%	35.35%	32.46%	13.71%	54.10%	56.51%	65.23%	66.82%	85.93%	86.62%	102.87%	48.73%	50.88%	71.84%	13.33%	14.97%	15.03%	14.70%	11.14%	8.64%	8.08%	9.65%	9.16%	10.56%	15.30%	14.53%	22.78%	12.50%	17.66%	30.27%	23.94%	11.81%	6.35%
Long-Term Investments	0	0	83,400,000	130,733,333	98,050,000	78,440,000	65,366,667	0	0	0	0	0	0	0	0	38,000,000	796,000,000	1,118,000,000	9,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	0.00%	0.00%	0.67%	1.18%	0.88%	0.71%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.31%	6.38%	10.87%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	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	2,583,000,000	2,393,000,000	1,761,100,000	1,349,840,667	1,121,916,650	981,281,080	869,370,833	3,056,000,000	2,615,000,000	2,078,000,000	1,848,000,000	2,368,000,000	1,687,000,000	1,088,000,000	1,078,000,000	969,000,000	824,000,000	717,000,000	488,000,000	487,000,000	500,000,000	444,610,000	487,590,000	465,296,000	356,334,000	466,592,000	414,911,000	256,980,000	475,030,000	495,373,000	443,772,000	422,539,000	629,298,000	287,500,000	254,200,000	185,100,000	193,000,000
Other Non-Current Assets Margin	12.56%	11.97%	9.80%	8.61%	8.11%	8.41%	8.59%	13.99%	12.96%	10.73%	9.79%	12.38%	10.50%	6.29%	6.74%	8.01%	6.60%	6.97%	5.78%	6.05%	6.49%	5.86%	6.84%	6.66%	5.04%	7.34%	7.23%	4.75%	9.63%	11.10%	11.21%	11.25%	17.39%	8.41%	8.16%	6.59%	6.97%
Other Assets	0	800,000	400,000	0	0	0	0	0	0	0	3,000,000	1,000,000	0	1,000,000	-1,000,000	1,000,000	-1,000,000	0	-2,000,000	-2,000,000	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%	0.02%	0.01%	0.00%	0.01%	-0.01%	0.01%	-0.01%	0.00%	-0.02%	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	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	45,664,000,000	45,364,600,000	40,178,200,000	29,799,939,800	23,446,927,500	19,377,086,640	16,523,626,167	46,070,000,000	46,818,000,000	44,104,000,000	44,790,000,000	45,041,000,000	45,043,000,000	45,100,000,000	46,494,000,000	19,101,000,000	19,221,000,000	20,819,000,000	6,319,000,000	6,278,000,000	6,039,000,000	5,762,097,000	5,145,444,000	4,657,670,000	4,298,268,000	4,198,799,000	3,639,272,000	3,157,479,000	3,111,245,000	3,068,794,000	3,111,753,000	3,039,345,000	2,844,419,000	2,753,300,000	2,303,200,000	1,767,700,000	1,613,000,000
Total Non-Current Assets Margin	223.55%	228.69%	228.73%	186.46%	156.30%	139.03%	127.66%	210.95%	232.02%	227.67%	237.36%	235.43%	280.22%	260.84%	290.90%	157.95%	153.98%	202.48%	74.82%	77.95%	78.35%	75.98%	72.22%	66.66%	60.75%	66.02%	63.42%	58.31%	63.05%	68.75%	78.57%	80.96%	78.61%	80.54%	73.89%	62.90%	58.24%
Total Assets	55,130,333,333	54,441,000,000	49,528,300,000	37,899,355,800	30,475,624,400	25,470,081,440	21,850,341,067	55,325,000,000	57,286,000,000	52,780,000,000	52,934,000,000	53,880,000,000	54,012,000,000	51,842,000,000	53,904,000,000	37,734,000,000	25,586,000,000	26,820,000,000	12,447,000,000	12,149,000,000	11,360,909,000	10,430,428,000	9,650,694,000	9,304,624,000	7,912,943,000	7,329,365,000	6,824,525,000	6,071,969,000	5,752,579,000	5,572,253,000	5,040,460,000	4,802,287,000	4,505,096,000	4,437,000,000	3,846,000,000	3,080,300,000	2,889,800,000
Total Assets Margin	269.90%	274.37%	286.20%	247.06%	216.03%	197.17%	184.03%	253.33%	283.90%	272.46%	280.52%	281.64%	336.02%	299.84%	337.26%	312.03%	204.97%	260.84%	147.37%	150.84%	147.39%	137.53%	135.46%	133.18%	111.84%	115.25%	118.94%	112.14%	116.57%	124.84%	127.27%	127.91%	124.51%	129.80%	123.39%	109.60%	104.33%
Accounts Payable	1,179,000,000	1,395,000,000	1,199,000,000	933,989,067	768,544,800	692,874,240	606,007,433	0	1,896,000,000	1,641,000,000	1,699,000,000	1,739,000,000	1,355,000,000	1,092,000,000	1,106,000,000	797,000,000	665,000,000	631,000,000	401,000,000	333,000,000	350,000,000	304,836,000	325,402,000	264,181,000	260,882,000	266,993,000	243,602,000	1,092,866,000	206,941,000	221,462,000	224,645,000	205,046,000	183,967,000	209,400,000	208,500,000	128,500,000	128,000,000
Accounts Payable Margin	5.96%	7.19%	6.95%	6.21%	5.68%	6.16%	6.04%	0.00%	9.40%	8.47%	9.00%	9.09%	8.43%	6.32%	6.92%	6.59%	5.33%	6.14%	4.75%	4.13%	4.54%	4.02%	4.57%	3.78%	3.69%	4.20%	4.25%	20.18%	4.19%	4.96%	5.67%	5.46%	5.08%	6.13%	6.69%	4.57%	4.62%
Short-Term Debt	1,623,666,667	1,510,000,000	1,337,000,000	1,058,128,800	865,690,950	743,207,640	686,474,200	1,560,000,000	2,170,000,000	1,141,000,000	2,179,000,000	500,000,000	706,000,000	1,309,000,000	2,601,000,000	203,000,000	1,001,000,000	1,452,000,000	203,000,000	207,000,000	405,000,000	234,932,000	202,758,000	402,965,000	201,312,000	207,634,000	427,218,000	206,509,000	49,289,000	121,920,000	434,642,000	454,012,000	637,735,000	631,300,000	385,200,000	132,400,000	227,400,000
Short-Term Debt Margin	7.93%	7.59%	7.59%	6.89%	6.27%	6.24%	7.25%	7.14%	10.75%	5.89%	11.55%	2.61%	4.39%	7.57%	16.27%	1.68%	8.02%	14.12%	2.40%	2.57%	5.25%	3.10%	2.85%	5.77%	2.85%	3.26%	7.45%	3.81%	1.00%	2.73%	10.97%	12.09%	17.63%	18.47%	12.36%	4.71%	8.21%
Tax Payables	102,333,333	128,400,000	171,900,000	120,794,667	92,219,050	73,775,240	61,479,367	0	168,000,000	139,000,000	157,000,000	178,000,000	144,000,000	140,000,000	343,000,000	176,000,000	274,000,000	33,000,000	26,000,000	19,000,000	3,882,000	11,038,000	28,796,000	3,665,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Payables Margin	0.52%	0.66%	1.08%	0.79%	0.62%	0.49%	0.41%	0.00%	0.83%	0.72%	0.83%	0.93%	0.90%	0.81%	2.15%	1.46%	2.19%	0.32%	0.31%	0.24%	0.05%	0.15%	0.40%	0.05%	0.00%	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	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	2,251,333,333	1,382,000,000	710,000,000	473,333,333	422,210,800	363,337,000	381,002,033	6,753,000,000	0	1,000,000	0	156,000,000	0	0	1,000,000	0	189,000,000	-1,000,000	1,000,000	0	0	0	0	0	406,379,000	522,753,000	415,084,000	-439,894,000	408,916,000	337,130,000	282,928,000	50,129,000	531,836,000	488,600,000	498,200,000	417,300,000	410,700,000
Other Current Liabilities Margin	10.31%	6.35%	3.33%	2.22%	2.72%	2.83%	4.84%	30.92%	0.00%	0.01%	0.00%	0.82%	0.00%	0.00%	0.01%	0.00%	1.51%	-0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	5.74%	8.22%	7.23%	-8.12%	8.29%	7.55%	7.14%	1.34%	14.70%	14.29%	15.98%	14.85%	14.83%
Total Current Liabilities	7,970,000,000	7,669,400,000	6,479,600,000	5,156,215,200	4,263,185,550	3,646,946,840	3,213,090,300	8,313,000,000	8,956,000,000	6,641,000,000	7,811,000,000	6,626,000,000	5,836,000,000	5,655,000,000	7,216,000,000	3,342,000,000	4,400,000,000	4,381,000,000	2,235,000,000	2,130,000,000	1,978,000,000	1,823,228,000	1,671,673,000	1,777,093,000	1,416,579,000	1,478,809,000	1,576,329,000	1,299,375,000	1,050,082,000	1,043,374,000	1,252,453,000	1,264,676,000	1,353,538,000	1,329,300,000	1,091,900,000	678,200,000	766,100,000
Total Current Liabilities Margin	38.91%	38.55%	36.98%	34.33%	31.73%	30.75%	31.06%	38.06%	44.38%	34.28%	41.39%	34.63%	36.31%	32.71%	45.15%	27.64%	35.25%	42.61%	26.46%	26.45%	25.66%	24.04%	23.46%	25.44%	20.02%	23.25%	27.47%	24.00%	21.28%	23.38%	31.62%	33.69%	37.41%	38.89%	35.03%	24.13%	27.66%
Long-Term Debt	16,766,333,333	16,259,000,000	16,471,100,000	12,657,185,133	9,785,375,200	8,028,393,480	6,811,413,533	17,621,000,000	17,940,000,000	14,738,000,000	13,886,000,000	17,110,000,000	17,224,000,000	18,081,000,000	18,894,000,000	18,667,000,000	10,550,000,000	11,370,000,000	3,768,000,000	3,763,000,000	3,761,112,000	2,484,665,000	1,495,357,000	1,488,460,000	953,226,000	955,713,000	956,971,000	1,060,833,000	1,171,506,000	1,184,031,000	802,967,000	782,996,000	779,569,000	954,200,000	765,200,000	665,400,000	468,200,000
Long-Term Debt Margin	81.89%	81.74%	97.75%	84.07%	67.42%	58.38%	52.47%	80.69%	88.91%	76.08%	73.59%	89.44%	107.15%	104.57%	118.21%	154.36%	84.51%	110.58%	44.61%	46.72%	48.79%	32.76%	20.99%	21.30%	13.47%	15.03%	16.68%	19.59%	23.74%	26.53%	20.28%	20.86%	21.54%	27.91%	24.55%	23.68%	16.90%
Capital Lease Obligations	341,000,000	204,600,000	610,500,000	71,639,200,000	137,786,550,000	110,229,240,000	91,857,700,000	0	0	1,023,000,000	0	0	1,435,000,000	1,272,000,000	1,056,000,000	0	1,319,000,000	0	0	0	0	1,068,483,000,000	899,109,000,000	782,034,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	1.76%	1.06%	3.87%	941.83%	1,897.03%	1,517.63%	1,264.69%	0.00%	0.00%	5.28%	0.00%	0.00%	8.93%	7.36%	6.61%	0.00%	10.57%	0.00%	0.00%	0.00%	0.00%	14,088.65%	12,620.16%	11,193.15%	0.00%	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	2,052,200,000	3,072,600,000	2,295,658,467	1,755,715,150	1,426,622,680	1,197,368,700	0	0	0	5,052,000,000	5,209,000,000	5,753,000,000	5,676,000,000	5,743,000,000	1,609,000,000	1,684,000,000	2,430,000,000	383,000,000	408,000,000	262,000,000	225,877,000	149,975,000	114,325,000	142,588,000	88,012,000	184,526,000	147,695,000	88,906,000	119,087,000	105,459,000	90,117,000	86,494,000	40,700,000	48,500,000	44,700,000	35,100,000
Deferred Tax Liabilities Margin	0.00%	10.80%	18.53%	15.00%	11.77%	9.90%	8.52%	0.00%	0.00%	0.00%	26.77%	27.23%	35.79%	32.83%	35.93%	13.31%	13.49%	23.63%	4.53%	5.07%	3.40%	2.98%	2.11%	1.64%	2.02%	1.38%	3.22%	2.73%	1.80%	2.67%	2.66%	2.40%	2.39%	1.19%	1.56%	1.59%	1.27%
Other Non-Current Liabilities	4,702,333,333	3,253,600,000	2,251,600,000	1,850,298,867	1,530,798,850	1,295,491,280	1,132,975,967	4,002,000,000	4,501,000,000	5,604,000,000	903,000,000	1,258,000,000	1,434,000,000	1,271,000,000	1,057,000,000	1,168,000,000	1,318,000,000	1,132,000,000	1,008,000,000	806,000,000	1,224,000,000	1,068,483,000	899,109,000	782,034,000	464,982,000	444,874,000	270,495,000	340,938,000	374,222,000	328,807,000	391,607,000	335,731,000	329,497,000	344,100,000	326,600,000	306,600,000	295,200,000
Other Non-Current Liabilities Margin	23.19%	16.18%	12.40%	12.46%	11.45%	10.76%	10.68%	18.33%	22.31%	28.93%	4.79%	6.58%	8.92%	7.35%	6.61%	9.66%	10.56%	11.01%	11.93%	10.01%	15.88%	14.09%	12.62%	11.19%	6.57%	7.00%	4.71%	6.30%	7.58%	7.37%	9.89%	8.94%	9.11%	10.07%	10.48%	10.91%	10.66%
Total Non-Current Liabilities	21,468,666,667	21,564,800,000	21,795,300,000	16,803,135,000	13,071,883,600	10,750,502,960	9,141,754,467	21,623,000,000	22,441,000,000	20,342,000,000	19,841,000,000	23,577,000,000	24,411,000,000	25,028,000,000	25,694,000,000	21,444,000,000	13,552,000,000	14,932,000,000	5,159,000,000	4,977,000,000	5,247,000,000	3,779,025,000	2,544,441,000	2,384,819,000	1,560,796,000	1,488,599,000	1,411,992,000	1,549,466,000	1,634,634,000	1,631,925,000	1,300,033,000	1,208,844,000	1,195,560,000	1,339,000,000	1,140,300,000	1,016,700,000	798,500,000
Total Non-Current Liabilities Margin	105.08%	108.72%	128.69%	111.53%	90.64%	79.05%	71.66%	99.01%	111.22%	105.01%	105.15%	123.24%	151.87%	144.75%	160.76%	177.33%	108.56%	145.22%	61.08%	61.80%	68.07%	49.83%	35.71%	34.13%	22.06%	23.41%	24.61%	28.62%	33.12%	36.56%	32.83%	32.20%	33.04%	39.17%	36.58%	36.18%	28.83%
Total Liabilities	29,438,666,667	29,234,200,000	28,274,900,000	21,959,350,200	17,335,069,150	14,397,449,800	12,354,844,767	29,936,000,000	31,397,000,000	26,983,000,000	27,652,000,000	30,203,000,000	30,247,000,000	30,683,000,000	32,910,000,000	24,786,000,000	17,952,000,000	19,313,000,000	7,394,000,000	7,107,000,000	7,225,000,000	5,602,253,000	4,216,114,000	4,161,912,000	2,977,375,000	2,967,408,000	2,988,321,000	2,848,841,000	2,684,716,000	2,675,299,000	2,552,486,000	2,473,520,000	2,549,098,000	2,668,300,000	2,232,200,000	1,694,900,000	1,564,600,000
Total Liabilities Margin	143.99%	147.28%	165.67%	145.86%	122.37%	109.79%	102.72%	137.08%	155.60%	139.29%	146.54%	157.87%	188.17%	177.46%	205.91%	204.96%	143.81%	187.83%	87.54%	88.24%	93.73%	73.87%	59.18%	59.57%	42.08%	46.66%	52.08%	52.61%	54.40%	59.94%	64.45%	65.88%	70.45%	78.06%	71.62%	60.31%	56.49%
Preferred Stock	0	800,000	1,200,000	800,000	600,000	6,242,520	13,311,100	0	0	0	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	0	0	0	0	0	0	0	0	0	0	0	0	31,142,000	34,448,000	37,945,000	40,528,000	43,570,000	46,700,000	49,000,000	51,100,000	52,900,000
Preferred Stock Margin	0.00%	0.00%	0.01%	0.00%	0.00%	0.14%	0.38%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.63%	0.77%	0.96%	1.08%	1.20%	1.37%	1.57%	1.82%	1.91%
Common Stock	371,000,000	368,600,000	358,200,000	349,754,933	345,481,700	342,917,760	307,943,533	371,000,000	371,000,000	371,000,000	365,000,000	365,000,000	365,000,000	347,000,000	347,000,000	347,000,000	333,000,000	333,000,000	333,000,000	333,000,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,662,000	332,700,000	0	0	0
Common Stock Margin	1.82%	1.86%	2.13%	2.75%	3.32%	4.16%	4.10%	1.70%	1.84%	1.92%	1.93%	1.91%	2.27%	2.01%	2.17%	2.87%	2.67%	3.24%	3.94%	4.13%	4.32%	4.39%	4.67%	4.76%	4.70%	5.23%	5.80%	6.14%	6.74%	7.45%	8.40%	8.86%	9.19%	9.73%	0.00%	0.00%	0.00%
Retained Earnings	16,098,666,667	15,455,800,000	14,141,200,000	13,149,464,133	11,594,954,700	10,062,883,400	8,790,253,100	16,622,000,000	16,139,000,000	15,535,000,000	15,157,000,000	13,826,000,000	12,791,000,000	12,912,000,000	12,594,000,000	13,109,000,000	12,727,000,000	12,314,000,000	12,105,000,000	11,342,000,000	10,435,378,000	9,633,584,000	8,724,228,000	7,752,831,000	6,838,589,000	5,995,787,000	5,345,697,000	4,805,852,000	4,264,778,000	3,950,592,000	3,514,465,000	3,137,304,000	2,835,908,000	2,539,000,000	2,350,800,000	2,249,500,000	2,160,300,000
Retained Earnings Margin	78.76%	77.78%	83.23%	99.91%	100.81%	98.08%	94.61%	76.11%	79.98%	80.19%	80.32%	72.27%	79.58%	74.68%	78.80%	108.40%	101.95%	119.76%	143.32%	140.82%	135.38%	127.03%	122.46%	110.97%	96.66%	94.28%	93.16%	88.76%	86.42%	88.51%	88.74%	83.57%	78.38%	74.27%	75.42%	80.04%	77.99%
Accumulated OCI	-1,716,666,667	-1,745,200,000	-1,911,800,000	-1,589,666,667	-1,237,836,100	-1,046,534,840	-890,380,833	-1,870,000,000	-1,732,000,000	-1,548,000,000	-1,488,000,000	-2,088,000,000	-2,548,000,000	-2,283,000,000	-1,909,000,000	-1,723,000,000	-1,929,000,000	-1,738,000,000	-1,001,000,000	-516,000,000	-802,000,000	-670,000,000	-457,909,000	-372,662,000	-77,510,000	14,033,000	-17,674,000	-172,915,000	-158,478,000	-237,992,000	-444,637,000	-392,627,000	-351,054,000	-197,000,000	0	0	0
Accumulated OCI Margin	-8.38%	-8.79%	-11.46%	-11.27%	-9.10%	-8.62%	-7.70%	-8.56%	-8.58%	-7.99%	-7.89%	-10.91%	-15.85%	-13.20%	-11.94%	-14.25%	-15.45%	-16.90%	-11.85%	-6.41%	-10.40%	-8.83%	-6.43%	-5.33%	-1.10%	0.22%	-0.31%	-3.19%	-3.21%	-5.33%	-11.23%	-10.46%	-9.70%	-5.76%	0.00%	0.00%	0.00%
Minority Interest	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
Minority Interest 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 Shareholders’ Equity	25,692,000,000	25,207,000,000	21,245,800,000	15,912,145,000	13,119,659,800	11,058,348,240	9,483,593,467	25,390,000,000	25,889,000,000	25,797,000,000	25,282,000,000	23,677,000,000	23,765,000,000	21,082,000,000	20,994,000,000	12,948,000,000	7,634,000,000	7,165,000,000	5,053,000,000	5,042,000,000	4,136,000,000	4,828,175,000	5,434,580,000	5,142,712,000	4,935,568,000	4,361,957,000	3,836,204,000	3,283,952,000	3,067,863,000	2,896,954,000	2,487,974,000	2,328,767,000	1,955,998,000	1,768,700,000	1,613,800,000	1,385,400,000	1,325,200,000
Total Shareholders’ Equity Margin	125.91%	127.09%	120.48%	100.95%	93.47%	87.28%	81.22%	116.26%	128.30%	133.17%	133.98%	123.76%	147.85%	121.93%	131.35%	107.07%	61.16%	69.68%	59.83%	62.60%	53.66%	63.66%	76.28%	73.61%	69.76%	68.59%	66.86%	60.65%	62.17%	64.90%	62.82%	62.03%	54.06%	51.74%	51.78%	49.29%	47.84%
Total Equity	25,692,000,000	25,207,000,000	21,245,800,000	15,912,145,000	13,119,659,800	11,058,348,240	9,483,593,467	25,390,000,000	25,889,000,000	25,797,000,000	25,282,000,000	23,677,000,000	23,765,000,000	21,082,000,000	20,994,000,000	12,948,000,000	7,634,000,000	7,165,000,000	5,053,000,000	5,042,000,000	4,136,000,000	4,828,175,000	5,434,580,000	5,142,712,000	4,935,568,000	4,361,957,000	3,836,204,000	3,283,952,000	3,067,863,000	2,896,954,000	2,487,974,000	2,328,767,000	1,955,998,000	1,768,700,000	1,613,800,000	1,385,400,000	1,325,200,000
Total Equity Margin	125.91%	127.09%	120.48%	100.95%	93.47%	87.28%	81.22%	116.26%	128.30%	133.17%	133.98%	123.76%	147.85%	121.93%	131.35%	107.07%	61.16%	69.68%	59.83%	62.60%	53.66%	63.66%	76.28%	73.61%	69.76%	68.59%	66.86%	60.65%	62.17%	64.90%	62.82%	62.03%	54.06%	51.74%	51.78%	49.29%	47.84%
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	153,666,667	96,200,000	178,500,000	367,106,467	352,536,600	287,043,200	239,544,700	8,000,000	445,000,000	8,000,000	8,000,000	12,000,000	20,000,000	30,000,000	17,000,000	75,000,000	1,162,000,000	1,213,000,000	893,000,000	718,000,000	509,566,000	388,031,000	528,206,000	551,561,000	199,942,000	158,040,000	106,386,000	86,808,000	32,119,000	0	1,850,000	4,571,000	5,561,000	4,700,000	0	0	0
Total Investments Margin	0.76%	0.48%	1.27%	3.72%	3.91%	3.23%	2.70%	0.04%	2.21%	0.04%	0.04%	0.06%	0.12%	0.17%	0.11%	0.62%	9.31%	11.80%	10.57%	8.91%	6.61%	5.12%	7.41%	7.89%	2.83%	2.49%	1.85%	1.60%	0.65%	0.00%	0.05%	0.12%	0.15%	0.14%	0.00%	0.00%	0.00%
Net Debt	17,062,000,000	16,314,400,000	15,058,700,000	11,347,626,933	8,627,676,850	7,048,593,760	6,047,375,067	18,330,000,000	18,393,000,000	14,463,000,000	15,059,000,000	15,327,000,000	15,105,000,000	18,854,000,000	20,355,000,000	4,691,000,000	10,010,000,000	11,398,000,000	2,110,000,000	2,080,000,000	2,495,089,000	1,544,315,000	482,126,000	497,181,000	324,061,000	651,865,000	383,900,000	224,452,000	501,417,000	786,065,000	994,494,000	1,154,879,000	1,368,108,000	1,525,600,000	1,067,100,000	685,200,000	560,400,000
Net Debt Margin	83.25%	81.93%	85.90%	71.56%	55.44%	47.86%	45.26%	83.93%	91.15%	74.66%	79.80%	80.12%	93.97%	109.05%	127.35%	38.79%	80.19%	110.85%	24.98%	25.83%	32.37%	20.36%	6.77%	7.12%	4.58%	10.25%	6.69%	4.15%	10.16%	17.61%	25.11%	30.76%	37.81%	44.63%	34.24%	24.38%	20.23%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	20,463,000,000	19,878,000,000	17,331,300,000	14,359,133,333	12,433,538,700	10,847,934,800	9,564,410,133	21,839,000,000	20,178,000,000	19,372,000,000	18,870,000,000	19,131,000,000	16,074,000,000	17,290,000,000	15,983,000,000	12,093,000,000	12,483,000,000	10,282,000,000	8,446,000,000	8,054,000,000	7,708,000,000	7,584,000,000	7,124,385,000	6,986,722,000	7,074,942,000	6,359,708,000	5,738,017,000	5,414,681,000	4,934,745,000	4,463,509,000	3,960,359,000	3,754,302,000	3,618,334,000	3,418,400,000	3,116,900,000	2,810,500,000	2,769,800,000
Working Capital	1,496,333,333	1,406,200,000	2,860,600,000	2,939,878,267	2,763,019,450	2,439,891,800	2,108,494,467	942,000,000	1,512,000,000	2,035,000,000	330,000,000	2,212,000,000	3,133,000,000	989,000,000	195,000,000	15,291,000,000	1,967,000,000	1,664,000,000	3,896,000,000	3,743,000,000	3,344,071,000	2,845,103,000	2,833,577,000	2,869,861,000	2,198,096,000	1,651,757,000	1,608,924,000	1,675,939,000	1,591,252,000	1,295,195,000	676,254,000	498,266,000	307,139,000	354,400,000	450,900,000	634,400,000	510,700,000
Working Capital Margin	7.44%	7.12%	20.43%	26.26%	27.99%	27.30%	25.23%	4.31%	7.49%	10.50%	1.75%	11.56%	19.49%	5.72%	1.22%	126.45%	15.76%	16.18%	46.13%	46.47%	43.38%	37.51%	39.77%	41.08%	31.07%	25.97%	28.04%	30.95%	32.25%	29.02%	17.08%	13.27%	8.49%	10.37%	14.47%	22.57%	18.44%
Total Capital	44,082,000,000	42,976,000,000	39,053,900,000	29,627,451,467	23,770,720,350	19,829,944,880	16,981,477,467	44,571,000,000	45,999,000,000	41,676,000,000	41,347,000,000	41,287,000,000	41,695,000,000	40,472,000,000	42,489,000,000	31,818,000,000	19,185,000,000	19,987,000,000	9,024,000,000	9,012,000,000	8,302,000,000	7,547,772,000	7,132,695,000	7,034,137,000	6,090,106,000	5,525,304,000	5,220,393,000	4,551,294,000	4,288,658,000	4,202,905,000	3,725,583,000	3,565,775,000	3,373,302,000	3,354,200,000	2,764,200,000	2,183,200,000	2,020,800,000
Total Capital Margin	215.73%	216.42%	225.82%	191.91%	167.17%	151.90%	140.94%	204.09%	227.97%	215.14%	219.11%	215.81%	259.39%	234.08%	265.84%	263.11%	153.69%	194.39%	106.84%	111.89%	107.71%	99.52%	100.12%	100.68%	86.08%	86.88%	90.98%	84.05%	86.91%	94.16%	94.07%	94.98%	93.23%	98.12%	88.68%	77.68%	72.96%
Capital Employed	47,160,333,333	46,771,600,000	43,048,700,000	32,743,140,600	26,212,438,850	21,823,134,600	18,637,250,767	47,012,000,000	48,330,000,000	46,139,000,000	45,123,000,000	47,254,000,000	48,176,000,000	46,187,000,000	46,688,000,000	34,392,000,000	21,186,000,000	22,439,000,000	10,212,000,000	10,019,000,000	9,382,909,000	8,607,200,000	7,979,021,000	7,527,531,000	6,496,364,000	5,850,556,000	5,248,196,000	4,772,594,000	4,702,497,000	4,528,879,000	3,788,007,000	3,537,611,000	3,151,558,000	3,107,700,000	2,754,100,000	2,402,100,000	2,123,700,000
Capital Employed Margin	230.99%	235.82%	249.22%	212.73%	184.30%	166.43%	152.97%	215.27%	239.52%	238.17%	239.13%	247.00%	299.71%	267.13%	292.11%	284.40%	169.72%	218.24%	120.91%	124.40%	121.73%	113.49%	112.00%	107.74%	91.82%	91.99%	91.46%	88.14%	95.29%	101.46%	95.65%	94.23%	87.10%	90.91%	88.36%	85.47%	76.67%
Invested Capital	42,754,000,000	41,521,400,000	36,304,500,000	27,259,755,000	21,747,323,950	18,106,931,840	15,530,960,067	43,720,000,000	44,282,000,000	40,260,000,000	40,341,000,000	39,004,000,000	38,870,000,000	39,936,000,000	41,349,000,000	17,639,000,000	17,644,000,000	18,563,000,000	7,163,000,000	7,122,000,000	6,630,835,000	6,372,490,000	5,916,706,000	5,639,893,000	5,259,629,000	5,013,822,000	4,220,104,000	3,508,404,000	3,569,280,000	3,683,019,000	3,482,468,000	3,483,646,000	3,324,106,000	3,294,300,000	2,680,900,000	2,070,600,000	1,885,600,000
Invested Capital Margin	209.16%	209.03%	206.38%	172.51%	148.91%	135.14%	126.48%	200.19%	219.46%	207.83%	213.78%	203.88%	241.82%	230.98%	258.71%	145.86%	141.34%	180.54%	84.81%	88.43%	86.03%	84.03%	83.05%	80.72%	74.34%	78.84%	73.55%	64.79%	72.33%	82.51%	87.93%	92.79%	91.87%	96.37%	86.01%	73.67%	68.08%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	20,463,000,000	19,878,000,000	17,331,300,000	14,359,133,333	12,433,538,700	10,847,934,800	9,564,410,133	21,839,000,000	20,178,000,000	19,372,000,000	18,870,000,000	19,131,000,000	16,074,000,000	17,290,000,000	15,983,000,000	12,093,000,000	12,483,000,000	10,282,000,000	8,446,000,000	8,054,000,000	7,708,000,000	7,584,000,000	7,124,385,000	6,986,722,000	7,074,942,000	6,359,708,000	5,738,017,000	5,414,681,000	4,934,745,000	4,463,509,000	3,960,359,000	3,754,302,000	3,618,334,000	3,418,400,000	3,116,900,000	2,810,500,000	2,769,800,000
Net Income	1,637,666,667	1,756,800,000	1,326,500,000	1,229,892,000	1,183,495,650	1,054,935,600	928,742,900	1,678,000,000	1,705,000,000	1,530,000,000	1,779,000,000	2,092,000,000	874,000,000	1,220,000,000	311,000,000	1,100,000,000	976,000,000	695,000,000	1,185,000,000	929,000,000	1,109,528,000	1,264,852,000	1,176,340,000	1,213,054,000	1,126,996,000	890,033,000	815,110,000	692,283,000	582,504,000	547,056,000	479,982,000	401,652,000	392,897,000	275,700,000	236,600,000	300,100,000	283,600,000
Net Income Margin	8.01%	8.88%	7.57%	9.28%	10.86%	11.07%	10.81%	7.68%	8.45%	7.90%	9.43%	10.94%	5.44%	7.06%	1.95%	9.10%	7.82%	6.76%	14.03%	11.53%	14.39%	16.68%	16.51%	17.36%	15.93%	13.99%	14.21%	12.79%	11.80%	12.26%	12.12%	10.70%	10.86%	8.07%	7.59%	10.68%	10.24%
Depreciation & Amortization	2,345,333,333	2,307,600,000	2,012,500,000	1,542,601,800	1,271,759,550	1,085,397,280	944,036,233	2,462,000,000	2,286,000,000	2,288,000,000	2,229,000,000	2,273,000,000	2,154,000,000	2,253,000,000	1,978,000,000	1,088,000,000	1,114,000,000	891,000,000	562,000,000	546,000,000	510,938,000	504,089,000	502,113,000	470,193,000	477,422,000	441,341,000	405,095,000	387,496,000	357,224,000	344,456,000	304,865,000	305,700,000	288,255,000	258,900,000	228,700,000	209,800,000	200,500,000
Depreciation & Amortization Margin	11.47%	11.62%	11.48%	10.01%	9.24%	8.91%	8.68%	11.27%	11.33%	11.81%	11.81%	11.88%	13.40%	13.03%	12.38%	9.00%	8.92%	8.67%	6.65%	6.78%	6.63%	6.65%	7.05%	6.73%	6.75%	6.94%	7.06%	7.16%	7.24%	7.72%	7.70%	8.14%	7.97%	7.57%	7.34%	7.46%	7.24%
Deferred Income Tax	-435,666,667	-346,200,000	-331,600,000	-239,720,400	-182,569,800	-141,037,560	-118,653,100	-474,000,000	-211,000,000	-622,000,000	-120,000,000	-304,000,000	-302,000,000	-381,000,000	-240,000,000	-236,000,000	-426,000,000	-336,000,000	-32,000,000	36,000,000	22,147,000	30,047,000	28,055,000	60,041,000	80,088,000	-115,489,000	-108,285,000	63,229,000	-31,345,000	-1,029,000	57,202,000	37,400,000	37,246,000	4,600,000	-32,300,000	-29,700,000	-13,500,000
Deferred Income Tax Margin	-2.14%	-1.73%	-1.96%	-1.47%	-1.17%	-0.82%	-0.73%	-2.17%	-1.05%	-3.21%	-0.64%	-1.59%	-1.88%	-2.20%	-1.50%	-1.95%	-3.41%	-3.27%	-0.38%	0.45%	0.29%	0.40%	0.39%	0.86%	1.13%	-1.82%	-1.89%	1.17%	-0.64%	-0.02%	1.44%	1.00%	1.03%	0.13%	-1.04%	-1.06%	-0.49%
Stock-Based Compensation	254,666,667	245,200,000	241,500,000	197,093,867	161,147,050	128,917,640	107,431,367	258,000,000	247,000,000	259,000,000	233,000,000	229,000,000	236,000,000	261,000,000	322,000,000	174,000,000	196,000,000	166,000,000	113,000,000	100,000,000	89,045,000	73,363,000	79,374,000	86,574,000	100,585,000	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	1.25%	1.23%	1.42%	1.37%	1.21%	0.97%	0.81%	1.18%	1.22%	1.34%	1.23%	1.20%	1.47%	1.51%	2.01%	1.44%	1.57%	1.61%	1.34%	1.24%	1.16%	0.97%	1.11%	1.24%	1.42%	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	-445,000,000	-489,400,000	-115,300,000	-72,849,733	-82,959,950	-56,195,800	-59,717,667	-800,000,000	293,000,000	-828,000,000	-1,394,000,000	282,000,000	512,000,000	-143,000,000	897,000,000	-371,000,000	399,000,000	274,000,000	-117,000,000	160,000,000	-3,477,000	-253,269,000	-68,750,000	-89,739,000	-87,287,000	-165,880,000	-154,797,000	10,722,000	111,223,000	80,963,000	68,882,000	-17,486,000	-31,235,000	-233,500,000	-40,600,000	-57,600,000	-23,700,000
Change in Working Capital Margin	-2.16%	-2.48%	-0.43%	-0.29%	-0.66%	-0.31%	-0.65%	-3.66%	1.45%	-4.27%	-7.39%	1.47%	3.19%	-0.83%	5.61%	-3.07%	3.20%	2.66%	-1.39%	1.99%	-0.05%	-3.34%	-0.96%	-1.28%	-1.23%	-2.61%	-2.70%	0.20%	2.25%	1.81%	1.74%	-0.47%	-0.86%	-6.83%	-1.30%	-2.05%	-0.86%
Accounts Receivable	-224,000,000	-147,000,000	-122,500,000	-86,105,600	-78,268,500	-62,614,800	-52,179,000	71,000,000	-453,000,000	-290,000,000	32,000,000	-95,000,000	-48,000,000	-51,000,000	-170,000,000	-93,000,000	-128,000,000	-2,000,000	-7,000,000	-1,000,000	-30,069,000	-26,515,000	-73,933,000	-82,805,000	0	-117,048,000	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	-1.14%	-0.75%	-0.72%	-0.54%	-0.61%	-0.48%	-0.40%	0.33%	-2.25%	-1.50%	0.17%	-0.50%	-0.30%	-0.29%	-1.06%	-0.77%	-1.03%	-0.02%	-0.08%	-0.01%	-0.39%	-0.35%	-1.04%	-1.19%	0.00%	-1.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	-109,000,000	-212,400,000	-106,700,000	-94,063,467	-95,008,650	-78,776,760	-75,132,733	-410,000,000	98,000,000	-15,000,000	-631,000,000	-104,000,000	-125,000,000	-149,000,000	246,000,000	-46,000,000	69,000,000	200,000,000	-189,000,000	-145,000,000	-92,413,000	-117,539,000	-116,500,000	-98,344,000	-43,617,000	-126,863,000	-103,897,000	-44,346,000	30,096,000	-43,818,000	21,112,000	-32,290,000	-64,663,000	-131,600,000	-54,100,000	-24,100,000	-10,100,000
Inventory Margin	-0.49%	-1.07%	-0.53%	-0.68%	-0.88%	-0.76%	-0.92%	-1.88%	0.49%	-0.08%	-3.34%	-0.54%	-0.78%	-0.86%	1.54%	-0.38%	0.55%	1.95%	-2.24%	-1.80%	-1.20%	-1.55%	-1.64%	-1.41%	-0.62%	-1.99%	-1.81%	-0.82%	0.61%	-0.98%	0.53%	-0.86%	-1.79%	-3.85%	-1.74%	-0.86%	-0.36%
Accounts Payable	-25,666,667	27,400,000	124,100,000	131,209,467	98,407,100	78,725,680	65,604,733	-185,000,000	625,000,000	-517,000,000	-473,000,000	687,000,000	205,000,000	-470,000,000	867,000,000	134,000,000	368,000,000	145,000,000	199,000,000	366,000,000	17,142,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	-0.14%	0.13%	0.87%	1.15%	0.86%	0.69%	0.57%	-0.85%	3.10%	-2.67%	-2.51%	3.59%	1.28%	-2.72%	5.42%	1.11%	2.95%	1.41%	2.36%	4.54%	0.22%	0.00%	0.00%	0.00%	0.00%	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	-86,333,333	-157,400,000	-10,200,000	-23,890,133	-7,993,550	7,191,000	9,653,833	-276,000,000	23,000,000	-6,000,000	-322,000,000	-206,000,000	480,000,000	527,000,000	-46,000,000	-366,000,000	90,000,000	-69,000,000	-120,000,000	-60,000,000	101,863,000	-109,215,000	121,683,000	91,410,000	-41,743,000	78,031,000	-50,900,000	120,694,000	-2,466,000	124,781,000	47,770,000	48,867,000	21,740,000	-7,500,000	91,100,000	-3,500,000	8,000,000
Other Working Capital Margin	-0.39%	-0.79%	-0.05%	-0.23%	-0.04%	0.27%	0.34%	-1.26%	0.11%	-0.03%	-1.71%	-1.08%	2.99%	3.05%	-0.29%	-3.03%	0.72%	-0.67%	-1.42%	-0.74%	1.32%	-1.44%	1.71%	1.31%	-0.59%	1.23%	-0.89%	2.23%	-0.05%	2.80%	1.21%	1.30%	0.60%	-0.22%	2.92%	-0.12%	0.29%
Other Non-Cash Items	49,000,000	25,600,000	100,500,000	76,931,000	75,600,200	62,924,440	58,984,700	307,000,000	-522,000,000	362,000,000	-94,000,000	75,000,000	65,000,000	120,000,000	-403,000,000	795,000,000	300,000,000	39,000,000	33,000,000	-52,000,000	32,047,000	96,918,000	27,136,000	-23,307,000	44,502,000	190,431,000	119,277,000	72,444,000	77,928,000	-65,746,000	-74,898,000	51,379,000	-71,670,000	126,100,000	108,400,000	20,100,000	13,500,000
Other Non-Cash Items Margin	0.23%	0.12%	0.81%	0.66%	0.79%	0.66%	0.77%	1.41%	-2.59%	1.87%	-0.50%	0.39%	0.40%	0.69%	-2.52%	6.57%	2.40%	0.38%	0.39%	-0.65%	0.42%	1.28%	0.38%	-0.33%	0.63%	2.99%	2.08%	1.34%	1.58%	-1.47%	-1.89%	1.37%	-1.98%	3.69%	3.48%	0.72%	0.49%
Net Cash from Operating Activities	3,405,666,667	3,499,400,000	3,234,000,000	2,719,748,533	2,413,062,350	2,124,213,320	1,851,884,200	3,430,000,000	3,798,000,000	2,989,000,000	2,633,000,000	4,647,000,000	3,539,000,000	3,330,000,000	2,865,000,000	2,550,000,000	2,559,000,000	1,729,000,000	1,744,000,000	1,507,000,000	1,760,228,000	1,716,000,000	1,744,268,000	1,716,816,000	1,687,099,000	1,240,436,000	1,076,400,000	1,226,174,000	1,097,534,000	905,700,000	836,033,000	778,645,000	615,493,000	431,800,000	500,800,000	442,700,000	460,400,000
Net Cash from Operating Activities Margin	16.65%	17.64%	18.90%	19.38%	20.09%	20.35%	19.56%	15.71%	18.82%	15.43%	13.95%	24.29%	22.02%	19.26%	17.93%	21.09%	20.50%	16.82%	20.65%	18.71%	22.84%	22.63%	24.48%	24.57%	23.85%	19.50%	18.76%	22.65%	22.24%	20.29%	21.11%	20.74%	17.01%	12.63%	16.07%	15.75%	16.62%
Capital Expenditures (PPE)	-786,333,333	-912,600,000	-867,000,000	-780,193,400	-737,408,650	-648,920,760	-617,886,367	-760,000,000	-725,000,000	-874,000,000	-973,000,000	-1,231,000,000	-810,000,000	-957,000,000	-895,000,000	-727,000,000	-718,000,000	-633,000,000	-653,000,000	-588,000,000	-553,644,000	-605,257,000	-632,465,000	-700,691,000	-651,287,000	-578,728,000	-482,101,000	-317,628,000	-265,718,000	-261,043,000	-259,703,000	-370,754,000	-376,372,000	-685,800,000	-717,900,000	-371,100,000	-162,400,000
Capital Expenditures (PPE) Margin	-3.86%	-4.64%	-5.11%	-5.83%	-6.65%	-6.66%	-7.97%	-3.48%	-3.59%	-4.51%	-5.16%	-6.43%	-5.04%	-5.53%	-5.60%	-6.01%	-5.75%	-6.16%	-7.73%	-7.30%	-7.18%	-7.98%	-8.88%	-10.03%	-9.21%	-9.10%	-8.40%	-5.87%	-5.38%	-5.85%	-6.56%	-9.88%	-10.40%	-20.06%	-23.03%	-13.20%	-5.86%
Acquisitions (Net)	-1,128,000,000	-1,192,400,000	-2,024,700,000	-1,913,100,333	-1,463,955,550	-1,173,372,600	-978,519,567	0	-3,924,000,000	540,000,000	-2,070,000,000	-508,000,000	-164,000,000	477,000,000	-14,747,000,000	-9,000,000	158,000,000	-8,414,000,000	-40,000,000	600,000,000	-103,424,000	-492,081,000	-21,377,000	51,022,000	-41,259,000	-339,528,000	-231,464,000	0	-24,251,000	0	0	-30,953,000	-21,272,000	0	0	0	0
Acquisitions (Net) Margin	-5.55%	-6.06%	-11.96%	-13.49%	-10.59%	-8.53%	-7.12%	0.00%	-19.45%	2.79%	-10.97%	-2.66%	-1.02%	2.76%	-92.27%	-0.07%	1.27%	-81.83%	-0.47%	7.45%	-1.34%	-6.49%	-0.30%	0.73%	-0.58%	-5.34%	-4.03%	0.00%	-0.49%	0.00%	0.00%	-0.82%	-0.59%	0.00%	0.00%	0.00%	0.00%
Purchases of Investments	-140,333,333	-84,200,000	120,000,000	34,405,247,667	25,829,457,350	20,658,779,600	17,215,233,900	0	-421,000,000	0	0	0	0	0	895,000,000	727,000,000	-1,000,000	633,000,000	-171,000,000	-225,000,000	-137,855,000	514,779,570,000	963,000,000	-338,228,000	-51,987,000	-34,048,000	-28,305,000	-44,946,000	-41,447,000	-4,399,000	-3,397,000	-25,468,000	-9,273,000	0	-3,200,000	0	0
Purchases of Investments Margin	-0.70%	-0.42%	0.95%	453.12%	340.18%	272.05%	226.69%	0.00%	-2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	5.60%	6.01%	-0.01%	6.16%	-2.02%	-2.79%	-1.79%	6,787.71%	13.52%	-4.84%	-0.73%	-0.54%	-0.49%	-0.83%	-0.84%	-0.10%	-0.09%	-0.68%	-0.26%	0.00%	-0.10%	0.00%	0.00%
Sales / Maturities of Investments	140,666,667	84,400,000	116,400,000	32,643,264,133	51,270,508,000	41,017,096,760	34,184,722,300	422,000,000	0	0	0	0	0	0	11,000,000	13,000,000	718,000,000	840,000,000	653,000,000	0	486,870,373,000	121,589,000	535,740,387,000	840,000	0	19,971,000	0	0	0	1,975,000	7,652,000	7,632,000	103,050,000	3,500,000	0	2,500,000	5,200,000
Sales / Maturities of Investments Margin	0.64%	0.39%	0.79%	422.79%	693.10%	554.49%	462.19%	1.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.11%	5.75%	8.17%	7.73%	0.00%	6,316.43%	1.60%	7,519.81%	0.01%	0.00%	0.31%	0.00%	0.00%	0.00%	0.04%	0.19%	0.20%	2.85%	0.10%	0.00%	0.09%	0.19%
Other Investing Activities	-435,333,333	-327,000,000	-496,000,000	-67,237,992,867	-77,279,001,950	-61,839,089,640	-51,540,239,100	-480,000,000	-444,000,000	-382,000,000	-188,000,000	-141,000,000	-258,000,000	-261,000,000	-1,093,000,000	-887,000,000	-826,000,000	-744,000,000	-737,000,000	-310,000,000	-486,975,562,000	-514,843,331,000	-536,755,171,000	-85,906,000	-38,491,000	-85,922,000	-44,656,000	-19,437,000	-63,818,000	-85,888,000	-105,673,000	-122,386,000	-99,532,000	-133,500,000	-48,700,000	4,500,000	47,300,000
Other Investing Activities Margin	-2.12%	-1.62%	-3.20%	-877.21%	-1,034.81%	-828.22%	-690.40%	-2.20%	-2.20%	-1.97%	-1.00%	-0.74%	-1.61%	-1.51%	-6.84%	-7.33%	-6.62%	-7.24%	-8.73%	-3.85%	-6,317.79%	-6,788.55%	-7,534.06%	-1.23%	-0.54%	-1.35%	-0.78%	-0.36%	-1.29%	-1.92%	-2.67%	-3.26%	-2.75%	-3.91%	-1.56%	0.16%	1.71%
Net Cash from Investing Activities	-2,349,333,333	-2,431,800,000	-3,151,300,000	-2,882,774,800	-2,380,400,800	-1,985,506,640	-1,736,688,833	-818,000,000	-5,514,000,000	-716,000,000	-3,231,000,000	-1,880,000,000	-1,232,000,000	-741,000,000	-15,829,000,000	-883,000,000	-669,000,000	-8,318,000,000	-948,000,000	-523,000,000	-900,112,000	-1,039,510,000	-705,626,000	-1,072,963,000	-783,024,000	-1,018,255,000	-786,526,000	-382,011,000	-395,234,000	-349,355,000	-361,121,000	-541,929,000	-403,399,000	-815,800,000	-769,800,000	-364,100,000	-109,900,000
Net Cash from Investing Activities Margin	-11.59%	-12.34%	-18.54%	-20.62%	-18.77%	-16.87%	-16.62%	-3.75%	-27.33%	-3.70%	-17.12%	-9.83%	-7.66%	-4.29%	-99.04%	-7.30%	-5.36%	-80.90%	-11.22%	-6.49%	-11.68%	-13.71%	-9.90%	-15.36%	-11.07%	-16.01%	-13.71%	-7.06%	-8.01%	-7.83%	-9.12%	-14.43%	-11.15%	-23.86%	-24.70%	-12.95%	-3.97%
Net Debt Issuance	573,000,000	279,600,000	472,300,000	909,867,667	703,982,700	557,021,760	484,825,767	-1,334,000,000	3,775,000,000	-722,000,000	-78,000,000	-243,000,000	-1,760,000,000	-2,035,000,000	1,090,000,000	7,282,000,000	-1,252,000,000	6,655,000,000	-4,000,000	-199,000,000	1,447,534,000	1,025,481,000	-200,269,000	740,117,000	-7,052,000	-221,892,000	120,735,000	52,581,000	-78,191,000	78,689,000	-24,472,000	-182,717,000	-158,471,000	426,000,000	315,400,000	95,800,000	-59,500,000
Net Debt Issuance Margin	2.96%	1.44%	4.15%	9.07%	7.11%	5.52%	5.25%	-6.11%	18.71%	-3.73%	-0.41%	-1.27%	-10.95%	-11.77%	6.82%	60.22%	-10.03%	64.72%	-0.05%	-2.47%	18.78%	13.52%	-2.81%	10.59%	-0.10%	-3.49%	2.10%	0.97%	-1.58%	1.76%	-0.62%	-4.87%	-4.38%	12.46%	10.12%	3.41%	-2.15%
Long-Term Debt Issuance	364,333,333	108,400,000	436,700,000	864,133,333	679,905,650	533,736,360	465,421,267	-1,789,000,000	3,375,000,000	-493,000,000	-308,000,000	-243,000,000	-1,275,000,000	-2,520,000,000	1,090,000,000	7,282,000,000	-752,000,000	6,158,000,000	0	0	1,446,000,000	991,000,000	-76,000	738,921,000	-1,114,000	-100,790,000	-828,000	-104,522,000	-21,682,000	78,689,000	-24,472,000	-182,717,000	-158,471,000	426,000,000	315,400,000	95,800,000	-59,500,000
Long-Term Debt Issuance Margin	2.00%	0.62%	4.16%	8.89%	7.11%	5.45%	5.19%	-8.19%	16.73%	-2.54%	-1.63%	-1.27%	-7.93%	-14.57%	6.82%	60.22%	-6.02%	59.89%	0.00%	0.00%	18.76%	13.07%	0.00%	10.58%	-0.02%	-1.58%	-0.01%	-1.93%	-0.44%	1.76%	-0.62%	-4.87%	-4.38%	12.46%	10.12%	3.41%	-2.15%
Short-Term Debt Issuance	208,333,333	171,000,000	35,500,000	45,666,667	24,026,300	23,244,800	19,370,667	455,000,000	400,000,000	-230,000,000	230,000,000	0	-485,000,000	485,000,000	0	0	-500,000,000	497,000,000	-4,000,000	-199,000,000	2,000,000	34,000,000	-200,193,000	1,196,000	-5,938,000	-121,102,000	121,563,000	157,103,000	-56,509,000	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.96%	0.82%	-0.01%	0.18%	0.00%	0.07%	0.06%	2.08%	1.98%	-1.19%	1.22%	0.00%	-3.02%	2.81%	0.00%	0.00%	-4.01%	4.83%	-0.05%	-2.47%	0.03%	0.45%	-2.81%	0.02%	-0.08%	-1.90%	2.12%	2.90%	-1.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	-500,000,000	-750,000,000	374,200,000	3,079,867	-107,822,400	-128,926,320	-119,041,133	-1,000,000,000	-500,000,000	0	-500,000,000	-1,750,000,000	2,917,000,000	0	0	4,607,000,000	-32,000,000	0	-409,000,000	-406,000,000	-1,464,949,000	-1,415,853,000	-699,907,000	-517,603,000	-364,605,000	-319,445,000	-301,086,000	-426,505,000	-273,858,000	-263,380,000	-185,892,000	82,925,000	34,724,000	26,800,000	1,500,000	-120,600,000	-290,500,000
Net Stock Issuance Margin	-2.35%	-3.77%	3.71%	-0.69%	-2.15%	-2.60%	-2.60%	-4.58%	-2.48%	0.00%	-2.65%	-9.15%	18.15%	0.00%	0.00%	38.10%	-0.26%	0.00%	-4.84%	-5.04%	-19.01%	-18.67%	-9.82%	-7.41%	-5.15%	-5.02%	-5.25%	-7.88%	-5.55%	-5.90%	-4.69%	2.21%	0.96%	0.78%	0.05%	-4.29%	-10.49%
Common Stock Issuance	0	0	774,400,000	526,546,600	417,228,300	353,971,120	300,720,067	0	0	0	0	0	2,917,000,000	0	0	4,827,000,000	0	0	-9,000,000	44,000,000	35,051,000	84,148,000	50,093,000	32,403,000	85,396,000	130,679,000	147,796,000	123,494,000	173,606,000	86,618,000	38,069,000	82,925,000	34,724,000	26,800,000	46,000,000	29,400,000	35,400,000
Common Stock Issuance Margin	0.00%	0.00%	5.81%	4.00%	3.35%	3.12%	2.78%	0.00%	0.00%	0.00%	0.00%	0.00%	18.15%	0.00%	0.00%	39.92%	0.00%	0.00%	-0.11%	0.55%	0.45%	1.11%	0.70%	0.46%	1.21%	2.05%	2.58%	2.28%	3.52%	1.94%	0.96%	2.21%	0.96%	0.78%	1.48%	1.05%	1.28%
Common Stock Repurchased	-500,000,000	-750,000,000	-400,200,000	-523,466,733	-525,050,700	-482,996,080	-419,843,400	-1,000,000,000	-500,000,000	0	-500,000,000	-1,750,000,000	0	0	0	-220,000,000	-32,000,000	0	-400,000,000	-450,000,000	-1,500,000,000	-1,500,001,000	-750,000,000	-550,006,000	-450,001,000	-450,124,000	-448,882,000	-549,999,000	-449,930,000	-349,998,000	-223,961,000	0	0	0	-44,500,000	-150,000,000	-325,900,000
Common Stock Repurchased Margin	-2.35%	-3.77%	-2.09%	-4.70%	-5.51%	-5.72%	-5.38%	-4.58%	-2.48%	0.00%	-2.65%	-9.15%	0.00%	0.00%	0.00%	-1.82%	-0.26%	0.00%	-4.74%	-5.59%	-19.46%	-19.78%	-10.53%	-7.87%	-6.36%	-7.08%	-7.82%	-10.16%	-9.12%	-7.84%	-5.66%	0.00%	0.00%	0.00%	-1.43%	-5.34%	-11.77%
Preferred Stock Issuance	0	0	0	0	0	98,640	82,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,466,000	0	0	0	0	0	0	0	0
Preferred Stock 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%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-1,136,666,667	-1,108,000,000	-971,600,000	-782,454,000	-656,507,350	-550,907,800	-472,024,800	-1,196,000,000	-1,100,000,000	-1,114,000,000	-1,082,000,000	-1,048,000,000	-1,026,000,000	-984,000,000	-927,000,000	-677,000,000	-562,000,000	-485,000,000	-421,000,000	-386,000,000	-367,611,000	-361,199,000	-345,713,000	-316,877,000	-278,506,000	-239,810,000	-212,431,000	-182,236,000	-152,376,000	-104,148,000	-102,459,000	-101,329,000	-95,749,000	-88,100,000	-75,300,000	-67,200,000	-61,700,000
Net Dividends Paid Margin	-5.56%	-5.58%	-5.59%	-5.33%	-5.03%	-4.59%	-4.23%	-5.48%	-5.45%	-5.75%	-5.73%	-5.48%	-6.38%	-5.69%	-5.80%	-5.60%	-4.50%	-4.72%	-4.98%	-4.79%	-4.77%	-4.76%	-4.85%	-4.54%	-3.94%	-3.77%	-3.70%	-3.37%	-3.09%	-2.33%	-2.59%	-2.70%	-2.65%	-2.58%	-2.42%	-2.39%	-2.23%
Common Dividends Paid	-1,136,666,667	-1,108,000,000	-971,600,000	-782,454,000	-656,507,350	-550,823,200	-471,954,300	-1,196,000,000	-1,100,000,000	-1,114,000,000	-1,082,000,000	-1,048,000,000	-1,026,000,000	-984,000,000	-927,000,000	-677,000,000	-562,000,000	-485,000,000	-421,000,000	-386,000,000	-367,611,000	-361,199,000	-345,713,000	-316,877,000	-278,506,000	-239,810,000	-212,431,000	-182,236,000	-150,261,000	-104,148,000	-102,459,000	-101,329,000	-95,749,000	-88,100,000	-75,300,000	-67,200,000	-61,700,000
Common Dividends Paid Margin	-5.56%	-5.58%	-5.59%	-5.33%	-5.03%	-4.59%	-4.23%	-5.48%	-5.45%	-5.75%	-5.73%	-5.48%	-6.38%	-5.69%	-5.80%	-5.60%	-4.50%	-4.72%	-4.98%	-4.79%	-4.77%	-4.76%	-4.85%	-4.54%	-3.94%	-3.77%	-3.70%	-3.37%	-3.04%	-2.33%	-2.59%	-2.70%	-2.65%	-2.58%	-2.42%	-2.39%	-2.23%
Preferred Dividends Paid	0	0	0	0	0	-84,600	-70,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,115,000	0	0	0	0	0	0	0	0
Preferred Dividends Paid 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%	-0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	-98,333,333	101,800,000	-17,300,000	-3,397,133	7,848,700	7,866,040	6,558,367	-87,000,000	-88,000,000	-120,000,000	1,069,000,000	-265,000,000	-109,000,000	-204,000,000	-220,000,000	-234,000,000	85,000,000	20,000,000	27,000,000	23,000,000	14,854,000	37,189,000	23,202,000	14,667,000	64,335,000	55,118,000	50,609,000	40,594,000	0	0	-917,000	0	0	0	100,000	0	0
Other Financing Activities Margin	-0.48%	0.57%	-0.17%	-0.01%	0.15%	0.15%	0.12%	-0.40%	-0.44%	-0.62%	5.67%	-1.39%	-0.68%	-1.18%	-1.38%	-1.94%	0.68%	0.19%	0.32%	0.29%	0.19%	0.49%	0.33%	0.21%	0.91%	0.87%	0.88%	0.75%	0.00%	0.00%	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Cash from Financing Activities	-1,162,333,333	-1,476,800,000	-142,600,000	127,029,733	-52,548,350	-115,457,000	-100,107,367	-3,617,000,000	2,087,000,000	-1,957,000,000	-591,000,000	-3,306,000,000	22,000,000	-3,224,000,000	-57,000,000	10,978,000,000	-1,761,000,000	6,191,000,000	-807,000,000	-968,000,000	-370,172,000	-714,382,000	-1,222,687,000	-79,696,000	-585,828,000	-726,029,000	-342,173,000	-524,507,000	-504,425,000	-291,665,000	-313,740,000	-201,121,000	-219,496,000	364,700,000	241,700,000	-92,000,000	-411,700,000
Net Cash from Financing Activities Margin	-5.44%	-7.35%	2.11%	3.03%	0.08%	-1.53%	-1.47%	-16.56%	10.34%	-10.10%	-3.13%	-17.28%	0.14%	-18.65%	-0.36%	90.78%	-14.11%	60.21%	-9.55%	-12.02%	-4.80%	-9.42%	-17.16%	-1.14%	-8.28%	-11.42%	-5.96%	-9.69%	-10.22%	-6.53%	-7.92%	-5.36%	-6.07%	10.67%	7.75%	-3.27%	-14.86%
Effect of FX on Cash	3,000,000	-4,200,000	-7,100,000	-8,858,400	-5,099,450	-3,490,920	-3,606,900	0	4,000,000	5,000,000	-45,000,000	15,000,000	-3,000,000	-12,000,000	-17,000,000	-6,000,000	-12,000,000	-38,000,000	-20,000,000	-7,000,000	5,939,000	-2,815,000	5,790,000	-390,000	748,000	15,041,000	9,698,000	3,856,000	1,617,000	12,091,000	-186,000	-2,662,000	-3,334,000	-4,000,000	-2,100,000	-9,200,000	-2,300,000
Effect of FX on Cash Margin	0.02%	-0.02%	-0.05%	-0.07%	-0.03%	-0.01%	-0.03%	0.00%	0.02%	0.03%	-0.24%	0.08%	-0.02%	-0.07%	-0.11%	-0.05%	-0.10%	-0.37%	-0.24%	-0.09%	0.08%	-0.04%	0.08%	-0.01%	0.01%	0.24%	0.17%	0.07%	0.03%	0.27%	0.00%	-0.07%	-0.09%	-0.12%	-0.07%	-0.33%	-0.08%
Net Change in Cash	-102,666,667	-413,200,000	-66,900,000	-30,721,600	-14,386,250	28,238,760	18,547,767	-1,005,000,000	375,000,000	322,000,000	-1,233,000,000	-525,000,000	2,327,000,000	-646,000,000	-13,039,000,000	12,638,000,000	117,000,000	-437,000,000	-29,000,000	219,000,000	495,883,000	-40,707,000	-178,255,000	563,767,000	318,995,000	-488,807,000	-42,601,000	323,512,000	199,492,000	276,771,000	160,986,000	32,933,000	-10,736,000	-23,400,000	-29,300,000	-22,600,000	-63,500,000
Net Change in Cash Margin	-0.36%	-2.07%	2.42%	1.88%	1.50%	2.04%	1.54%	-4.60%	1.86%	1.66%	-6.53%	-2.74%	14.48%	-3.74%	-81.58%	104.51%	0.94%	-4.25%	-0.34%	2.72%	6.43%	-0.54%	-2.50%	8.07%	4.51%	-7.69%	-0.74%	5.97%	4.04%	6.20%	4.06%	0.88%	-0.30%	-0.68%	-0.94%	-0.80%	-2.29%
Cash at Beginning of Period	1,498,666,667	1,961,000,000	2,877,500,000	2,439,218,067	2,068,382,650	1,719,254,280	1,452,362,967	1,856,000,000	1,481,000,000	1,159,000,000	2,392,000,000	2,917,000,000	590,000,000	1,236,000,000	14,179,000,000	1,541,000,000	1,424,000,000	1,861,000,000	1,890,000,000	1,671,000,000	1,175,282,000	1,215,989,000	1,394,244,000	830,477,000	511,482,000	1,000,289,000	1,042,890,000	719,378,000	519,886,000	243,115,000	82,129,000	49,196,000	59,932,000	83,300,000	112,600,000	135,200,000	198,500,000
Cash at Beginning of Period Margin	7.27%	9.95%	17.34%	17.73%	16.93%	14.85%	13.03%	8.50%	7.34%	5.98%	12.68%	15.25%	3.67%	7.15%	88.71%	12.74%	11.41%	18.10%	22.38%	20.75%	15.25%	16.03%	19.57%	11.89%	7.23%	15.73%	18.18%	13.29%	10.54%	5.45%	2.07%	1.31%	1.66%	2.44%	3.61%	4.81%	7.17%
Cash at End of Period	1,396,000,000	1,547,800,000	2,810,600,000	2,408,496,467	2,053,996,400	1,747,493,040	1,470,910,733	851,000,000	1,856,000,000	1,481,000,000	1,159,000,000	2,392,000,000	2,917,000,000	590,000,000	1,140,000,000	14,179,000,000	1,541,000,000	1,424,000,000	1,861,000,000	1,890,000,000	1,671,165,000	1,175,282,000	1,215,989,000	1,394,244,000	830,477,000	511,482,000	1,000,289,000	1,042,890,000	719,378,000	519,886,000	243,115,000	82,129,000	49,196,000	59,900,000	83,300,000	112,600,000	135,000,000
Cash at End of Period Margin	6.91%	7.88%	19.77%	19.61%	18.42%	16.89%	14.56%	3.90%	9.20%	7.65%	6.14%	12.50%	18.15%	3.41%	7.13%	117.25%	12.34%	13.85%	22.03%	23.47%	21.68%	15.50%	17.07%	19.96%	11.74%	8.04%	17.43%	19.26%	14.58%	11.65%	6.14%	2.19%	1.36%	1.75%	2.67%	4.01%	4.87%
Operating Cash Flow	3,405,666,667	3,499,400,000	3,234,000,000	2,719,748,533	2,413,062,350	2,124,213,320	1,851,884,200	3,430,000,000	3,798,000,000	2,989,000,000	2,633,000,000	4,647,000,000	3,539,000,000	3,330,000,000	2,865,000,000	2,550,000,000	2,559,000,000	1,729,000,000	1,744,000,000	1,507,000,000	1,760,228,000	1,716,000,000	1,744,268,000	1,716,816,000	1,687,099,000	1,240,436,000	1,076,400,000	1,226,174,000	1,097,534,000	905,700,000	836,033,000	778,645,000	615,493,000	431,800,000	500,800,000	442,700,000	460,400,000
Operating Cash Flow Margin	16.65%	17.64%	18.90%	19.38%	20.09%	20.35%	19.56%	15.71%	18.82%	15.43%	13.95%	24.29%	22.02%	19.26%	17.93%	21.09%	20.50%	16.82%	20.65%	18.71%	22.84%	22.63%	24.48%	24.57%	23.85%	19.50%	18.76%	22.65%	22.24%	20.29%	21.11%	20.74%	17.01%	12.63%	16.07%	15.75%	16.62%
Capital Expenditure	-786,333,333	-912,600,000	-867,000,000	-780,193,400	-737,408,650	-648,920,760	-617,886,367	-760,000,000	-725,000,000	-874,000,000	-973,000,000	-1,231,000,000	-810,000,000	-957,000,000	-895,000,000	-727,000,000	-718,000,000	-633,000,000	-653,000,000	-588,000,000	-553,644,000	-605,257,000	-632,465,000	-700,691,000	-651,287,000	-578,728,000	-482,101,000	-317,628,000	-265,718,000	-261,043,000	-259,703,000	-370,754,000	-376,372,000	-685,800,000	-717,900,000	-371,100,000	-162,400,000
Capital Expenditure Margin	-3.86%	-4.64%	-5.11%	-5.83%	-6.65%	-6.66%	-7.97%	-3.48%	-3.59%	-4.51%	-5.16%	-6.43%	-5.04%	-5.53%	-5.60%	-6.01%	-5.75%	-6.16%	-7.73%	-7.30%	-7.18%	-7.98%	-8.88%	-10.03%	-9.21%	-9.10%	-8.40%	-5.87%	-5.38%	-5.85%	-6.56%	-9.88%	-10.40%	-20.06%	-23.03%	-13.20%	-5.86%
Free Cash Flow	2,619,000,000	2,586,600,000	2,366,900,000	1,939,488,467	1,675,603,700	1,475,252,560	1,233,964,500	2,670,000,000	3,072,000,000	2,115,000,000	1,660,000,000	3,416,000,000	2,729,000,000	2,373,000,000	1,970,000,000	1,823,000,000	1,841,000,000	1,096,000,000	1,091,000,000	919,000,000	1,206,584,000	1,110,743,000	1,111,803,000	1,016,125,000	1,035,812,000	661,708,000	594,299,000	908,546,000	831,816,000	644,657,000	576,330,000	407,891,000	239,121,000	-254,000,000	-217,100,000	71,600,000	298,000,000
Free Cash Flow Margin	12.79%	13.00%	13.79%	13.54%	13.44%	13.69%	11.59%	12.23%	15.22%	10.92%	8.80%	17.86%	16.98%	13.72%	12.33%	15.07%	14.75%	10.66%	12.92%	11.41%	15.65%	14.65%	15.61%	14.54%	14.64%	10.40%	10.36%	16.78%	16.86%	14.44%	14.55%	10.86%	6.61%	-7.43%	-6.97%	2.55%	10.76%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	20,463,000,000	19,878,000,000	17,331,300,000	14,359,133,333	12,433,538,700	10,847,934,800	9,564,410,133	21,839,000,000	20,178,000,000	19,372,000,000	18,870,000,000	19,131,000,000	16,074,000,000	17,290,000,000	15,983,000,000	12,093,000,000	12,483,000,000	10,282,000,000	8,446,000,000	8,054,000,000	7,708,000,000	7,584,000,000	7,124,385,000	6,986,722,000	7,074,942,000	6,359,708,000	5,738,017,000	5,414,681,000	4,934,745,000	4,463,509,000	3,960,359,000	3,754,302,000	3,618,334,000	3,418,400,000	3,116,900,000	2,810,500,000	2,769,800,000
EBITDA	4,726,000,000	4,595,800,000	3,912,200,000	3,300,333,333	2,955,679,750	2,587,815,000	2,278,428,267	4,957,000,000	4,819,000,000	4,402,000,000	4,410,000,000	4,391,000,000	3,057,000,000	4,068,000,000	3,857,000,000	2,585,000,000	2,576,000,000	2,001,000,000	2,219,000,000	1,849,000,000	2,118,000,000	2,196,000,000	2,109,420,000	2,083,584,000	2,051,871,000	1,766,674,000	1,597,046,000	1,417,666,000	1,144,491,000	1,096,991,000	971,052,000	951,580,000	860,573,000	779,700,000	725,100,000	660,300,000	631,800,000
EBITDA Margin	23.10%	23.13%	22.43%	23.30%	24.67%	24.69%	24.45%	22.70%	23.88%	22.72%	23.37%	22.95%	19.02%	23.53%	24.13%	21.38%	20.64%	19.46%	26.27%	22.96%	27.48%	28.96%	29.61%	29.82%	29.00%	27.78%	27.83%	26.18%	23.19%	24.58%	24.52%	25.35%	23.78%	22.81%	23.26%	23.49%	22.81%
(-) Tax Adjustment	535,993,444	440,482,212	520,166,789	484,997,927	497,046,884	454,086,975	411,845,855	537,315,622	721,047,382	349,617,329	366,057,207	228,373,522	457,811,594	-197,173,469	2,834,385,337	-328,422,131	232,655,493	119,139,378	491,329,172	374,561,373	522,305,707	565,965,389	608,422,560	542,804,048	563,565,498	510,330,912	440,845,758	440,980,759	258,983,068	253,793,452	229,219,014	228,260,407	210,266,326	202,772,222	221,847,844	191,513,556	176,801,320
(-) Tax Adjustment Margin	2.61%	2.19%	2.96%	3.70%	4.77%	5.05%	5.28%	2.46%	3.57%	1.80%	1.94%	1.19%	2.85%	-1.14%	17.73%	-2.72%	1.86%	1.16%	5.82%	4.65%	6.78%	7.46%	8.54%	7.77%	7.97%	8.02%	7.68%	8.14%	5.25%	5.69%	5.79%	6.08%	5.81%	5.93%	7.12%	6.81%	6.38%
(-) Change In Working Capital	-445,000,000	-489,400,000	-115,300,000	-72,849,733	-82,959,950	-56,195,800	-59,717,667	-800,000,000	293,000,000	-828,000,000	-1,394,000,000	282,000,000	512,000,000	-143,000,000	897,000,000	-371,000,000	399,000,000	274,000,000	-117,000,000	160,000,000	-3,477,000	-253,269,000	-68,750,000	-89,739,000	-87,287,000	-165,880,000	-154,797,000	10,722,000	111,223,000	80,963,000	68,882,000	-17,486,000	-31,235,000	-233,500,000	-40,600,000	-57,600,000	-23,700,000
(-) Change In Working Capital Margin	-2.16%	-2.48%	-0.43%	-0.29%	-0.66%	-0.31%	-0.65%	-3.66%	1.45%	-4.27%	-7.39%	1.47%	3.19%	-0.83%	5.61%	-3.07%	3.20%	2.66%	-1.39%	1.99%	-0.05%	-3.34%	-0.96%	-1.28%	-1.23%	-2.61%	-2.70%	0.20%	2.25%	1.81%	1.74%	-0.47%	-0.86%	-6.83%	-1.30%	-2.05%	-0.86%
(-) Capital Expenditure	-786,333,333	-912,600,000	-867,000,000	-780,193,400	-737,408,650	-648,920,760	-617,886,367	-760,000,000	-725,000,000	-874,000,000	-973,000,000	-1,231,000,000	-810,000,000	-957,000,000	-895,000,000	-727,000,000	-718,000,000	-633,000,000	-653,000,000	-588,000,000	-553,644,000	-605,257,000	-632,465,000	-700,691,000	-651,287,000	-578,728,000	-482,101,000	-317,628,000	-265,718,000	-261,043,000	-259,703,000	-370,754,000	-376,372,000	-685,800,000	-717,900,000	-371,100,000	-162,400,000
(-) Capital Expenditure Margin	-3.86%	-4.64%	-5.11%	-5.83%	-6.65%	-6.66%	-7.97%	-3.48%	-3.59%	-4.51%	-5.16%	-6.43%	-5.04%	-5.53%	-5.60%	-6.01%	-5.75%	-6.16%	-7.73%	-7.30%	-7.18%	-7.98%	-8.88%	-10.03%	-9.21%	-9.10%	-8.40%	-5.87%	-5.38%	-5.85%	-6.56%	-9.88%	-10.40%	-20.06%	-23.03%	-13.20%	-5.86%
Unlevered Free Cash Flow	3,848,673,223	3,732,117,788	2,640,333,211	2,107,991,740	1,804,184,166	1,541,003,065	1,308,413,712	4,459,684,378	3,079,952,618	4,006,382,671	4,464,942,793	2,649,626,478	1,277,188,406	3,451,173,469	-769,385,337	2,557,422,131	1,226,344,507	974,860,622	1,191,670,828	726,438,627	1,045,527,293	1,278,046,611	937,282,440	929,827,952	924,305,502	843,495,088	828,896,242	648,335,241	508,566,932	501,191,548	413,247,986	370,051,593	305,169,674	124,627,778	-174,047,844	155,286,444	316,298,680
Unlevered Free Cash Flow Margin	18.79%	18.78%	14.79%	14.06%	13.91%	13.28%	11.85%	20.42%	15.26%	20.68%	23.66%	13.85%	7.95%	19.96%	-4.81%	21.15%	9.82%	9.48%	14.11%	9.02%	13.56%	16.85%	13.16%	13.31%	13.06%	13.26%	14.45%	11.97%	10.31%	11.23%	10.43%	9.86%	8.43%	3.65%	-5.58%	5.53%	11.42%
(-) Net Interest Income After Taxes	-398,017,334	-396,083,859	-408,612,585	-310,829,129	-233,853,892	-187,083,114	-155,902,595	-512,672,689	-310,386,534	-370,992,780	-350,291,643	-436,075,650	-442,975,845	-657,390,306	-169,949,702	-501,536,885	-333,853,818	-334,803,789	-69,293,693	-78,147,639	-63,787,842	-30,278,116	-11,480,451	-5,354,614	2,194,156	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	-1.93%	-1.99%	-2.44%	-2.04%	-1.54%	-1.23%	-1.03%	-2.35%	-1.54%	-1.92%	-1.86%	-2.28%	-2.76%	-3.80%	-1.06%	-4.15%	-2.67%	-3.26%	-0.82%	-0.97%	-0.83%	-0.40%	-0.16%	-0.08%	0.03%	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 Debt Issuance	573,000,000	279,600,000	472,300,000	909,867,667	703,982,700	557,021,760	484,825,767	-1,334,000,000	3,775,000,000	-722,000,000	-78,000,000	-243,000,000	-1,760,000,000	-2,035,000,000	1,090,000,000	7,282,000,000	-1,252,000,000	6,655,000,000	-4,000,000	-199,000,000	1,447,534,000	1,025,481,000	-200,269,000	740,117,000	-7,052,000	-221,892,000	120,735,000	52,581,000	-78,191,000	78,689,000	-24,472,000	-182,717,000	-158,471,000	426,000,000	315,400,000	95,800,000	-59,500,000
Net Debt Issuance Margin	2.96%	1.44%	4.15%	9.07%	7.11%	5.52%	5.25%	-6.11%	18.71%	-3.73%	-0.41%	-1.27%	-10.95%	-11.77%	6.82%	60.22%	-10.03%	64.72%	-0.05%	-2.47%	18.78%	13.52%	-2.81%	10.59%	-0.10%	-3.49%	2.10%	0.97%	-1.58%	1.76%	-0.62%	-4.87%	-4.38%	12.46%	10.12%	3.41%	-2.15%
Levered Free Cash Flow	4,819,690,557	4,407,801,647	3,521,245,797	3,328,688,535	2,742,020,758	2,285,107,938	1,949,142,073	3,638,357,067	7,165,339,152	3,655,375,451	4,737,234,436	2,842,702,128	-39,835,749	2,073,563,776	490,564,365	10,340,959,016	308,198,324	7,964,664,411	1,256,964,520	605,586,266	2,556,849,135	2,333,805,726	748,493,891	1,675,299,565	915,059,346	621,603,088	949,631,242	700,916,241	430,375,932	579,880,548	388,775,986	187,334,593	146,698,674	550,627,778	141,352,156	251,086,444	256,798,680
Levered Free Cash Flow Margin	23.68%	22.20%	21.38%	25.17%	22.57%	20.03%	18.12%	16.66%	35.51%	18.87%	25.10%	14.86%	-0.25%	11.99%	3.07%	85.51%	2.47%	77.46%	14.88%	7.52%	33.17%	30.77%	10.51%	23.98%	12.93%	9.77%	16.55%	12.94%	8.72%	12.99%	9.82%	4.99%	4.05%	16.11%	4.54%	8.93%	9.27%