Hang Lung Group Limited (0010.HK)

Analysis: Margins & Ratios Industry: Real Estate - Diversified Sector: Real Estate Live Price: $16.24

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	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	1,443,948,863	1,393,059,552	1,403,701,836	1,322,993,565	1,229,325,185	1,114,150,994	1,039,315,430	2,871,617,260	2,842,312,420	1,511,512,800	1,414,858,240	1,405,475,550	1,405,218,490	1,228,232,680	1,214,479,970	1,287,227,950	1,541,717,350	1,770,757,810	1,257,537,520	2,308,527,330	1,306,507,450	1,026,440,580	431,989,330	734,420,420	1,616,907,400	603,628,292	1,356,389,943	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
Cost of Revenue	483,229,957	437,953,122	420,100,305	347,519,414	311,335,006	249,068,005	207,556,671	1,069,883,720	826,962,020	634,167,020	396,772,110	418,750,740	399,985,360	340,090,380	326,080,610	355,513,980	444,970,860	553,964,300	330,707,690	539,826,000	0	234,695,780	90,999,240	146,267,140	414,894,840	113,157,812	485,856,253	0	0	0	0	0	0	0	0	0	0	0	0
Cost of Revenue Margin	33.26%	31.19%	29.69%	25.61%	23.22%	18.57%	15.48%	37.26%	29.09%	41.96%	28.04%	29.79%	28.46%	27.69%	26.85%	27.62%	28.86%	31.28%	26.30%	23.38%	0.00%	22.87%	21.07%	19.92%	25.66%	18.75%	35.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Gross Profit	960,718,907	955,106,430	983,601,531	975,474,151	917,990,179	865,082,990	831,758,760	2,031,930,770	2,015,350,400	877,345,780	1,018,086,130	986,724,810	1,005,233,130	888,142,300	888,399,360	931,713,970	1,096,746,490	1,216,793,510	926,829,830	1,768,701,330	1,306,507,450	791,744,800	340,990,090	588,153,280	1,202,012,560	490,470,480	870,533,690	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
Gross Profit Margin	66.74%	68.81%	70.31%	74.39%	76.78%	81.43%	84.52%	70.76%	70.91%	58.04%	71.96%	70.21%	71.54%	72.31%	73.15%	72.38%	71.14%	68.72%	73.70%	76.62%	100.00%	77.13%	78.93%	80.08%	74.34%	81.25%	64.18%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
R&D Expenses	0	0	0	0	0	0	0	6,683,560	15,809,190	0	0	0	0	0	0	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%	0.23%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	86,757,750	82,310,612	84,662,711	81,188,117	73,778,791	63,122,625	53,187,856	171,330,490	172,744,320	86,372,160	87,400,400	86,500,690	79,431,540	71,848,270	80,074,190	90,870,710	84,315,680	86,243,630	93,569,840	90,613,650	89,713,940	89,328,350	38,559,000	62,979,700	67,606,780	57,684,264	57,851,353	42,222,105	32,389,560	22,505,603	23,353,901	16,438,987	21,143,185	19,048,146	17,570,051	0	0	0	0
SG&A Expenses Margin	6.02%	5.91%	6.10%	6.53%	6.44%	5.83%	5.02%	5.97%	6.08%	5.71%	6.18%	6.15%	5.65%	5.85%	6.59%	7.06%	5.47%	4.87%	7.44%	3.93%	6.87%	8.70%	8.93%	8.58%	4.18%	9.56%	4.27%	6.88%	5.88%	2.34%	3.33%	3.74%	5.06%	2.54%	4.84%	0.00%	0.00%	0.00%	0.00%
Operating Expenses	85,772,353	80,973,900	165,867,965	113,800,462	-43,153,948	38,810,405	-3,359,774	684,293,720	1,037,751,220	85,472,450	86,757,750	85,086,860	75,704,170	71,848,270	80,074,190	90,870,710	77,118,000	659,487,430	346,259,820	418,108,090	72,747,980	89,328,350	-112,078,160	-419,778,980	-2,717,509,790	-431,809,388	57,851,353	275,619,732	245,762,213	516,459,246	387,427,979	251,263,297	207,653,068	470,535,477	92,233,128	-171,459,020	-166,394,938	-395,576,781	-429,855,732
Operating Expenses Margin	5.95%	5.82%	11.25%	4.12%	-4.20%	7.79%	2.25%	23.83%	36.51%	5.65%	6.13%	6.05%	5.39%	5.85%	6.59%	7.06%	5.00%	37.24%	27.53%	18.11%	5.57%	8.70%	-25.94%	-57.16%	-168.07%	-71.54%	4.27%	44.88%	44.64%	53.78%	55.32%	57.14%	49.65%	62.87%	25.43%	-37.84%	-24.75%	-41.82%	-48.20%
Operating Income (EBIT)	874,989,397	873,798,352	826,190,840	918,406,831	1,015,090,096	867,006,827	789,263,743	1,559,197,430	1,842,477,550	791,873,330	930,685,730	902,409,130	927,729,540	816,294,030	20,564,800	896,496,750	1,012,045,220	1,130,549,880	833,259,990	1,678,344,740	897,910,580	1,476,938,230	453,068,250	1,007,932,260	3,919,522,350	922,279,868	849,686,124	492,758,314	341,452,798	485,624,899	328,291,326	154,017,499	189,671,721	215,763,311	203,025,988	281,634,936	505,804,109	550,275,489	462,001,085
Operating Income (EBIT) Margin	60.79%	62.97%	58.19%	73.96%	85.47%	76.64%	73.98%	54.30%	64.82%	52.39%	65.78%	64.21%	66.02%	66.46%	1.69%	69.65%	65.64%	63.85%	66.26%	72.70%	68.73%	143.89%	104.88%	137.24%	242.41%	152.79%	62.64%	80.24%	62.02%	50.56%	46.87%	35.02%	45.35%	28.83%	55.98%	62.16%	75.25%	58.18%	51.80%
Interest Income	10,068,183	9,948,222	28,135,217	35,962,694	26,972,663	21,578,131	17,981,775	17,480,080	20,179,210	7,711,800	13,110,060	9,382,690	10,539,460	8,997,100	20,564,800	83,030,380	78,403,300	34,574,570	15,038,010	50,897,880	67,992,370	95,112,200	44,085,790	0	0	12,853	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.70%	0.72%	2.00%	3.12%	2.34%	1.87%	1.56%	0.61%	0.71%	0.51%	0.93%	0.67%	0.75%	0.73%	1.69%	6.45%	5.09%	1.95%	1.20%	2.20%	5.20%	9.27%	10.21%	0.00%	0.00%	0.00%	0.00%	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	82,173,513	60,357,688	98,119,802	81,162,411	67,712,175	65,305,579	80,000,928	140,097,700	407,183,040	108,736,380	80,074,190	57,709,970	55,267,900	0	6,940,620	183,926,430	173,515,500	183,155,250	131,871,780	89,713,940	59,637,920	49,869,640	19,150,970	17,865,670	15,423,600	22,120,013	39,407,298	59,856,421	0	0	123,054,622	71,694,034	83,647,324	0	63,146,789	99,443,661	324,178,366	170,469,339	110,150,210
Interest Expense Margin	5.65%	4.18%	6.78%	5.87%	5.26%	6.37%	9.24%	4.88%	14.33%	7.19%	5.66%	4.11%	3.93%	0.00%	0.57%	14.29%	11.25%	10.34%	10.49%	3.89%	4.56%	4.86%	4.43%	2.43%	0.95%	3.66%	2.91%	9.75%	0.00%	0.00%	17.57%	16.30%	20.00%	0.00%	17.41%	21.95%	48.23%	18.02%	12.35%
Net Interest Income	-71,933,957	-50,255,230	-48,571,487	-24,343,582	-25,097,410	-20,077,928	-16,731,607	-180,070,530	-387,003,830	-100,767,520	-66,707,070	-48,327,280	-44,471,380	8,997,100	2,056,480	-91,898,950	-93,441,310	-50,512,290	-642,650	33,803,390	55,139,370	33,931,920	15,552,130	-17,865,670	-15,423,600	-22,107,160	-39,407,298	-59,856,421	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-4.94%	-3.45%	-3.32%	-1.54%	-2.01%	-1.61%	-1.34%	-6.27%	-13.62%	-6.67%	-4.71%	-3.44%	-3.16%	0.73%	0.17%	-7.14%	-6.06%	-2.85%	-0.05%	1.46%	4.22%	3.31%	3.60%	-2.43%	-0.95%	-3.66%	-2.91%	-9.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	211,131,947	319,242,814	-110,959,949	-120,406,904	-218,197,669	-196,585,093	-134,011,376	472,476,280	538,797,760	346,388,350	152,693,640	134,313,850	36,759,580	926,058,650	-2,280,250,730	-372,737,000	-279,038,630	202,434,750	23,778,050	-224,156,320	-412,195,710	-21,850,100	-36,759,580	-1,542,360	-2,827,660	21,001,802	-1,384,730,808	-741,939,425	-449,353,733	-826,872,049	123,902,920	77,465,031	80,626,869	-5,796,703	52,607,329	89,032,731	491,125,983	161,947,800	99,572,191
Unusual Items Margin	14.42%	24.26%	-10.02%	-10.15%	-22.68%	-19.43%	-11.68%	16.45%	18.96%	22.92%	10.79%	9.56%	2.62%	75.40%	-187.76%	-28.96%	-18.10%	11.43%	1.89%	-9.71%	-31.55%	-2.13%	-8.51%	-0.21%	-0.17%	3.48%	-102.09%	-120.82%	-81.61%	-86.10%	17.69%	17.62%	19.28%	-0.77%	14.50%	19.65%	73.06%	17.12%	11.16%
EBT Excluding Unusual Items	524,830,833	285,722,190	1,118,095,323	1,204,420,355	1,492,224,946	1,303,904,460	1,119,305,647	736,862,490	1,151,885,860	200,121,210	692,262,580	682,108,710	898,938,820	-1,044,820,370	4,567,442,080	1,742,866,800	1,665,234,680	874,261,060	902,537,660	2,165,473,440	1,713,947,550	1,475,395,870	501,652,590	1,028,882,650	3,940,601,270	902,383,424	3,658,555,038	2,036,493,585	1,240,160,264	2,139,368,997	203,540,108	70,781,471	112,065,307	227,356,717	160,958,119	203,013,135	-152,269,491	396,849,228	373,006,913
EBT Excluding Unusual Items Margin	36.90%	17.92%	83.02%	97.01%	133.75%	120.00%	105.01%	25.66%	40.53%	13.24%	48.93%	48.53%	63.97%	-85.07%	376.08%	135.40%	108.01%	49.37%	71.77%	93.80%	131.19%	143.74%	116.13%	140.09%	243.71%	149.49%	269.73%	331.63%	225.24%	222.76%	29.06%	16.10%	26.79%	30.38%	44.38%	44.81%	-22.65%	41.96%	41.82%
Pre-Tax Income	735,962,780	604,965,004	1,007,135,374	1,084,013,451	1,274,027,276	1,107,319,368	985,294,271	1,209,338,770	1,690,683,620	546,509,560	844,956,220	816,422,560	935,698,400	-118,761,720	2,287,191,350	1,370,129,800	1,386,196,050	1,076,695,810	926,315,710	1,941,317,120	1,301,751,840	1,453,545,770	464,893,010	1,027,340,290	3,937,773,610	923,385,226	2,273,824,230	1,294,554,160	790,806,531	1,312,496,948	327,443,028	148,246,502	192,692,176	221,560,014	213,565,448	292,045,866	338,856,492	558,797,028	472,579,104
Pre-Tax Income Margin	51.32%	42.18%	73.00%	86.86%	111.07%	100.57%	93.34%	42.11%	59.48%	36.16%	59.72%	58.09%	66.59%	-9.67%	188.33%	106.44%	89.91%	60.80%	73.66%	84.09%	99.64%	141.61%	107.62%	139.88%	243.54%	152.97%	167.64%	210.81%	143.63%	136.66%	46.75%	33.71%	46.07%	29.60%	58.88%	64.46%	50.41%	59.08%	52.99%
Income Tax Expense	198,450,320	207,807,304	244,027,058	222,759,627	255,230,375	220,289,623	190,637,838	426,205,480	448,184,110	181,998,480	213,231,270	200,121,210	281,609,230	162,076,330	694,447,590	175,314,920	185,982,910	189,196,160	156,292,480	304,359,040	201,406,510	177,242,870	74,547,400	143,568,010	827,476,140	207,653,068	389,921,461	190,211,547	147,950,883	247,972,929	78,429,006	19,600,825	17,107,343	39,522,975	27,659,656	19,549,413	49,355,520	55,910,550	59,419,419
Income Tax Expense Margin	13.78%	14.92%	18.06%	17.55%	21.77%	19.45%	17.27%	14.84%	15.77%	12.04%	15.07%	14.24%	20.04%	13.20%	57.18%	13.62%	12.06%	10.68%	12.43%	13.18%	15.42%	17.27%	17.26%	19.55%	51.18%	34.40%	28.75%	30.97%	26.87%	25.82%	11.20%	4.46%	4.09%	5.28%	7.63%	4.31%	7.34%	5.91%	6.66%
Net Income	305,987,087	210,532,140	418,095,237	465,107,227	567,221,527	514,777,559	463,096,589	442,014,670	704,472,930	207,318,890	361,297,830	349,344,540	332,764,170	-198,064,730	876,060,480	679,281,050	683,008,420	477,231,890	412,709,830	877,217,250	585,711,210	676,324,860	202,820,340	453,582,370	1,594,286,120	339,049,287	966,070,039	1,104,342,613	364,074,078	1,064,524,019	126,807,698	62,722,640	88,917,054	182,037,039	112,219,543	162,641,862	132,270,223	323,895,600	292,431,456
Net Income Margin	21.37%	14.33%	30.06%	37.20%	51.50%	48.75%	45.75%	15.39%	24.79%	13.72%	25.54%	24.86%	23.68%	-16.13%	72.13%	52.77%	44.30%	26.95%	32.82%	38.00%	44.83%	65.89%	46.95%	61.76%	98.60%	56.17%	71.22%	179.83%	66.13%	110.84%	18.11%	14.26%	21.26%	24.32%	30.94%	35.90%	19.68%	34.24%	32.79%
Depreciation and Amortization	12,124,663	10,102,458	-75,742,729	-221,551,445	-102,280,318	-79,401,721	-25,144,324	30,204,550	19,665,090	15,038,010	11,310,640	10,025,340	7,968,860	6,169,440	6,426,500	5,912,380	5,655,320	7,326,210	-833,259,990	-1,678,344,740	-897,910,580	4,884,140	2,056,480	3,470,310	3,084,720	1,953,656	1,463,545,404	-154,287,412	-36,631,050	-41,682,279	-15,320,776	34,471,746	20,911,831	62,182,814	67,426,838	171,459,020	166,394,938	395,576,781	429,855,732
Depreciation and Amortization Margin	0.84%	0.72%	-6.09%	-13.39%	-6.21%	-4.39%	2.05%	1.05%	0.69%	0.99%	0.80%	0.71%	0.57%	0.50%	0.53%	0.46%	0.37%	0.41%	-66.26%	-72.70%	-68.73%	0.48%	0.48%	0.47%	0.19%	0.32%	107.90%	-25.12%	-6.65%	-4.34%	-2.19%	7.84%	5.00%	8.31%	18.59%	37.84%	24.75%	41.82%	48.20%
EBITDA	835,273,627	852,410,960	899,838,530	951,970,298	940,689,220	806,420,870	764,695,662	1,521,666,670	1,862,142,640	670,283,950	925,287,470	910,249,460	933,770,450	822,463,470	796,243,350	695,090,240	1,062,814,570	1,227,847,090	954,335,250	1,780,011,970	975,285,640	811,409,890	665,785,400	1,048,676,270	1,143,017,290	434,688,460	2,313,231,528	338,470,902	304,821,748	437,631,797	282,598,911	188,489,245	210,583,552	227,433,835	270,452,826	-12,853	672,199,047	945,852,270	891,856,817
EBITDA Margin	58.17%	61.58%	64.16%	77.96%	79.65%	72.10%	72.57%	52.99%	65.52%	44.35%	65.40%	64.76%	66.45%	66.96%	65.56%	54.00%	68.94%	69.34%	75.89%	77.11%	74.65%	79.05%	154.12%	142.79%	70.69%	72.01%	170.54%	55.12%	55.36%	45.57%	40.35%	42.86%	50.35%	30.39%	74.57%	0.00%	100.00%	100.00%	100.00%
NOPAT	635,064,914	896,803,812	778,094,557	833,298,840	885,607,317	753,577,630	687,007,197	1,009,691,778	1,354,054,316	528,163,867	695,819,952	681,210,922	648,518,630	1,930,305,688	14,320,821	781,785,534	876,261,313	931,890,524	692,668,322	1,415,214,421	758,986,224	1,296,842,924	380,416,996	867,076,469	3,095,881,495	714,875,376	703,979,675	420,356,306	277,570,874	393,874,721	249,659,136	133,653,646	172,832,536	177,274,381	176,731,337	262,782,426	432,132,140	495,217,563	403,911,686
NOPAT Margin	44.20%	67.18%	56.24%	67.62%	74.74%	66.68%	64.52%	35.16%	47.64%	34.94%	49.18%	48.47%	46.15%	157.16%	1.18%	60.73%	56.84%	52.63%	55.08%	61.30%	58.09%	126.34%	88.06%	118.06%	191.47%	118.43%	51.90%	68.45%	50.41%	41.01%	35.65%	30.39%	41.32%	23.68%	48.73%	58.00%	64.29%	52.36%	45.29%
Owner's Earnings	188,981,943	-11,156,404	-183,720,782	-224,627,597	-25,261,286	22,162,685	27,658,799	-221,971,310	96,654,560	199,478,560	357,827,520	9,639,750	-29,176,310	-593,551,540	-700,488,500	-987,495,990	142,282,710	139,840,640	-375,564,660	202,049,160	-681,080,470	-7,711,800	-689,691,980	-355,771,040	1,123,609,260	49,599,727	779,907,187	734,947,393	176,124,659	893,977,562	67,362,573	40,628,333	33,212,152	24,112,228	-93,402,751	50,627,967	-63,982,234	270,478,532	111,975,336
Owner's Earnings Margin	13.06%	-2.25%	-15.84%	-27.37%	-6.19%	-0.02%	0.55%	-7.73%	3.40%	13.20%	25.29%	0.69%	-2.08%	-48.33%	-57.68%	-76.71%	9.23%	7.90%	-29.87%	8.75%	-52.13%	-0.75%	-159.65%	-48.44%	69.49%	8.22%	57.50%	119.68%	31.99%	93.08%	9.62%	9.24%	7.94%	3.22%	-25.75%	11.17%	-9.52%	28.60%	12.56%

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	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	1,443,948,863	1,393,059,552	1,403,701,836	1,322,993,565	1,229,325,185	1,114,150,994	1,039,315,430	1,511,512,800	1,414,858,240	1,405,475,550	1,405,218,490	1,228,232,680	1,214,479,970	1,287,227,950	1,541,717,350	1,770,757,810	1,257,537,520	2,308,527,330	1,306,507,450	1,026,440,580	431,989,330	734,420,420	1,616,907,400	603,628,292	1,356,389,943	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
Cash & Cash Equivalents	979,569,973	742,569,222	1,219,042,785	2,303,077,658	1,934,381,641	1,547,505,313	1,289,587,761	1,390,309,010	815,265,790	733,135,120	569,644,960	204,491,230	221,971,310	880,301,970	872,076,050	3,030,480,340	3,472,752,070	5,169,348,070	5,026,679,770	5,164,720,990	3,360,930,970	3,634,057,220	1,523,337,560	1,237,962,401	1,380,167,993	0	0	0	0	0	0	0	0	0	0	0	0
Cash & Cash Equivalents Margin	67.26%	51.79%	84.95%	215.61%	181.76%	145.41%	121.17%	91.98%	57.62%	52.16%	40.54%	16.65%	18.28%	68.39%	56.57%	171.14%	276.15%	223.92%	384.74%	503.17%	778.01%	494.82%	94.21%	205.09%	101.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Investments	3,470,310	256,828,646	128,414,323	85,609,549	149,557,508	204,085,589	192,920,103	0	0	10,410,930	605,119,240	668,613,060	0	0	0	0	0	0	0	0	0	0	0	0	0	911,483,348	795,523,582	479,905,314	251,841,682	217,948,321	556,110,751	605,183,505	685,463,343	0	0	0	0
Short-Term Investments Margin	0.25%	19.65%	9.82%	6.55%	19.56%	29.62%	30.98%	0.00%	0.00%	0.74%	43.06%	54.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	148.43%	144.49%	49.97%	35.96%	49.56%	132.97%	80.85%	189.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	983,040,283	999,397,868	1,347,457,108	2,388,687,207	2,083,939,149	1,751,590,902	1,482,507,863	1,390,309,010	815,265,790	743,546,050	1,174,764,200	873,104,290	221,971,310	880,301,970	872,076,050	3,030,480,340	3,472,752,070	5,169,348,070	5,026,679,770	5,164,720,990	3,360,930,970	3,634,057,220	1,523,337,560	1,237,962,401	1,380,167,993	911,483,348	795,523,582	479,905,314	251,841,682	217,948,321	556,110,751	605,183,505	685,463,343	0	0	0	0
Cash & Short-Term Investments Margin	67.50%	71.44%	94.77%	222.16%	201.32%	175.03%	152.16%	91.98%	57.62%	52.90%	83.60%	71.09%	18.28%	68.39%	56.57%	171.14%	276.15%	223.92%	384.74%	503.17%	778.01%	494.82%	94.21%	205.09%	101.75%	148.43%	144.49%	49.97%	35.96%	49.56%	132.97%	80.85%	189.00%	0.00%	0.00%	0.00%	0.00%
Net Receivables	438,758,577	445,407,862	222,703,931	155,144,279	116,358,209	93,086,567	77,572,139	412,709,830	442,271,730	461,294,170	456,924,150	453,839,430	0	0	0	0	0	0	0	0	100,124,870	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables Margin	30.46%	32.17%	16.09%	12.27%	9.20%	7.36%	6.13%	27.30%	31.26%	32.82%	32.52%	36.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.18%	0.00%	0.00%	0.00%	0.00%	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	1,689,869,597	1,497,708,678	954,309,544	827,681,788	793,050,665	907,205,355	787,135,714	1,736,440,300	1,830,781,320	1,502,387,170	1,389,537,830	1,029,396,770	727,736,860	316,569,390	210,018,020	305,130,220	495,097,560	522,860,040	0	789,045,670	789,816,850	770,408,820	0	0	880,224,852	1,252,691,939	1,312,869,685	1,382,635,769	1,554,737,439	1,472,465,386	1,282,151,015	1,127,130,982	933,937,539	0	0	0	0
Inventory Margin	117.06%	106.77%	68.86%	71.72%	79.16%	109.65%	99.95%	114.88%	129.40%	106.90%	98.88%	83.81%	59.92%	24.59%	13.62%	17.23%	39.37%	22.65%	0.00%	76.87%	182.83%	104.90%	0.00%	0.00%	64.89%	203.99%	238.45%	143.96%	221.98%	334.84%	306.56%	150.59%	257.51%	0.00%	0.00%	0.00%	0.00%
Other Current Assets	-658,030,757	-1,096,977,844	-621,262,608	-396,155,166	-168,403,862	-115,457,471	67,767,443	0	0	-1,974,092,270	-1,862,399,700	-1,648,397,250	-727,736,860	0	0	0	0	0	0	58,095,560	57,709,970	154,493,060	953,435,540	1,081,374,302	177,756,990	162,757,539	198,925,881	127,951,615	247,124,631	36,810,992	39,600,093	30,153,138	26,978,447	1,517,142,414	0	1,655,826,284	1,719,512,899
Other Current Assets Margin	-46.82%	-81.44%	-46.71%	-28.47%	-5.66%	-1.71%	22.25%	0.00%	0.00%	-140.46%	-132.53%	-134.21%	-59.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.66%	13.36%	21.04%	58.97%	179.15%	13.11%	26.50%	36.13%	13.32%	35.28%	8.37%	9.47%	4.03%	7.44%	334.84%	0.00%	175.06%	192.80%
Total Current Assets	2,453,637,700	1,845,536,564	1,770,526,456	2,867,178,691	2,743,809,599	2,571,517,704	2,360,893,451	3,539,459,140	3,088,318,840	733,135,120	1,158,826,480	707,943,240	221,971,310	880,301,970	872,076,050	3,030,480,340	3,472,752,070	5,169,348,070	5,026,679,770	6,238,846,200	4,308,582,660	4,558,959,100	2,476,773,100	2,319,336,703	2,438,149,835	2,326,932,826	2,307,319,148	1,990,492,698	2,053,703,752	1,727,224,699	1,877,861,859	1,762,467,625	1,646,379,329	1,517,142,414	0	1,655,826,284	1,719,512,899
Total Current Assets Margin	168.20%	128.94%	123.52%	271.32%	279.25%	286.51%	277.31%	234.17%	218.28%	52.16%	82.47%	57.64%	18.28%	68.39%	56.57%	171.14%	276.15%	223.92%	384.74%	607.81%	997.38%	620.76%	153.18%	384.23%	179.75%	378.92%	419.07%	207.26%	293.22%	392.77%	449.00%	235.47%	453.94%	334.84%	0.00%	175.06%	192.80%
Property, Plant & Equipment	149,223,330	103,312,414	10,864,036,809	11,891,467,070	11,214,673,718	9,866,429,107	8,991,610,055	364,768,140	42,157,840	40,744,010	36,759,580	32,132,500	25,198,435,030	22,617,552,630	21,106,682,480	19,358,031,830	19,843,104,050	19,828,837,220	18,841,341,230	32,775,150	16,152,622,160	14,876,062,200	13,383,700,370	9,980,727,237	9,241,307,000	7,274,759,441	6,040,974,265	5,363,634,018	4,426,611,759	4,005,778,833	4,164,654,766	4,406,573,932	4,401,548,409	4,083,153,893	4,547,879,814	5,343,184,895	4,711,806,976
Property, Plant & Equipment Margin	10.00%	7.05%	790.73%	1,065.08%	1,071.03%	1,004.26%	966.37%	24.13%	2.98%	2.90%	2.62%	2.62%	2,074.83%	1,757.07%	1,369.04%	1,093.21%	1,577.93%	858.94%	1,442.12%	3.19%	3,739.13%	2,025.55%	827.73%	1,653.46%	681.32%	1,184.64%	1,097.19%	558.48%	632.01%	910.92%	995.77%	588.74%	1,213.60%	901.17%	676.57%	564.91%	528.31%
Goodwill	151,922,460	151,922,460	151,922,460	131,666,132	98,749,599	78,999,679	65,833,066	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	151,922,460	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	10.53%	10.96%	10.96%	9.51%	7.13%	5.70%	4.75%	10.05%	10.74%	10.81%	10.81%	12.37%	12.51%	11.80%	9.85%	8.58%	12.08%	6.58%	11.63%	14.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	50,640,820	91,153,476	45,576,738	30,384,492	22,788,369	18,230,695	15,192,246	0	0	151,922,460	151,922,460	151,922,460	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Margin	3.60%	6.80%	3.40%	2.27%	1.70%	1.36%	1.13%	0.00%	0.00%	10.81%	10.81%	12.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	368,024,233	388,571,896	2,444,884,807	2,961,776,771	2,154,766,891	1,685,306,953	1,392,340,641	0	571,958,500	532,114,200	424,663,120	414,123,660	458,723,570	791,744,800	887,242,590	375,693,190	19,992,584,440	19,977,803,490	0	0	0	0	0	0	0	-725,886,028	-605,427,712	-300,940,142	-58,596,827	25,281,851	-310,772,687	-317,636,189	-362,454,600	0	0	0	0
Long-Term Investments Margin	26.10%	28.44%	191.01%	185.03%	127.37%	95.86%	76.56%	0.00%	40.43%	37.86%	30.22%	33.72%	37.77%	61.51%	57.55%	21.22%	1,589.82%	865.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-118.21%	-109.96%	-31.33%	-8.37%	5.75%	-74.31%	-42.44%	-99.94%	0.00%	0.00%	0.00%	0.00%
Tax Assets	18,508,320	15,603,542	8,444,421	6,760,678	6,914,914	5,531,931	4,609,943	18,379,790	18,636,850	18,508,320	10,796,520	11,696,230	514,120	385,590	257,060	2,827,660	2,442,070	2,956,190	0	2,442,070	5,783,850	5,783,850	5,141,200	7,891,742	4,344,314	9,575,485	9,935,369	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	1.28%	1.11%	0.60%	0.57%	0.69%	0.55%	0.46%	1.22%	1.32%	1.32%	0.77%	0.95%	0.04%	0.03%	0.02%	0.16%	0.19%	0.13%	0.00%	0.24%	1.34%	0.79%	0.32%	1.31%	0.32%	1.56%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	25,629,053,373	25,677,697,694	10,587,607,338	7,036,940,382	5,416,109,604	4,417,327,266	3,579,463,674	26,125,907,510	25,875,531,070	24,885,721,540	26,272,945,830	25,228,382,520	-459,237,690	-792,130,390	-887,499,650	-378,520,850	-19,995,026,510	-19,980,759,680	1,553,027,990	17,082,536,710	494,711,970	528,515,360	372,222,880	356,555,073	332,301,462	911,483,348	795,523,582	479,905,314	251,841,682	217,948,321	556,110,751	605,183,505	685,463,343	287,148,873	-4,547,879,814	272,624,983	253,371,189
Other Non-Current Assets Margin	1,775.98%	1,850.33%	748.33%	572.49%	449.35%	373.45%	298.98%	1,728.46%	1,828.84%	1,770.63%	1,869.67%	2,054.04%	-37.81%	-61.54%	-57.57%	-21.38%	-1,590.01%	-865.52%	118.87%	1,664.25%	114.52%	71.96%	23.02%	59.07%	24.50%	148.43%	144.49%	49.97%	35.96%	49.56%	132.97%	80.85%	189.00%	63.38%	-676.57%	28.82%	28.41%
Other Assets	1,883,607,150	2,044,989,418	2,006,995,950	1,421,096,229	1,065,822,172	852,657,738	908,797,071	0	3,047,831,890	2,602,989,560	2,385,645,330	2,188,480,310	1,835,279,870	1,875,895,350	3,033,950,650	1,413,572,940	1,686,313,600	1,246,483,940	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	5,947,468,690	0	0
Other Assets Margin	133.54%	149.71%	145.61%	100.68%	75.51%	60.41%	79.83%	0.00%	215.42%	185.20%	169.77%	178.18%	151.12%	145.73%	196.79%	79.83%	134.10%	53.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	884.78%	0.00%	0.00%
Total Non-Current Assets	26,367,372,537	26,428,261,482	24,102,472,573	22,058,995,525	18,914,003,095	16,071,825,631	14,049,049,625	26,660,977,900	26,660,206,720	25,780,932,990	27,049,009,970	25,990,179,830	25,350,357,490	22,769,475,090	21,258,604,940	19,509,954,290	19,995,026,510	19,980,759,680	20,546,291,680	17,269,676,390	16,653,117,980	15,410,361,410	13,761,064,450	10,345,174,052	9,577,952,776	7,469,932,246	6,241,005,504	5,542,599,190	4,619,856,614	4,249,009,005	4,409,992,830	4,694,121,248	4,724,557,152	4,370,302,766	0	5,615,809,878	4,965,178,165
Total Non-Current Assets Margin	1,827.49%	1,904.69%	1,745.04%	1,834.95%	1,657.26%	1,481.19%	1,348.25%	1,763.86%	1,884.30%	1,834.32%	1,924.90%	2,116.06%	2,087.34%	1,768.88%	1,378.89%	1,101.79%	1,590.01%	865.52%	1,572.61%	1,682.48%	3,854.98%	2,098.30%	851.07%	1,713.83%	706.14%	1,216.42%	1,133.52%	577.11%	659.60%	966.23%	1,054.43%	627.15%	1,302.66%	964.55%	0.00%	593.73%	556.72%
Total Assets	29,688,673,423	29,709,221,086	27,575,211,790	26,144,081,652	22,571,243,271	19,374,087,798	17,217,145,751	30,200,437,040	29,748,525,560	29,117,057,670	30,593,481,780	28,886,603,380	27,407,608,670	25,525,672,410	25,164,631,640	23,954,007,570	25,154,092,180	26,396,591,690	25,572,971,450	23,508,522,590	20,961,700,640	19,969,320,510	16,237,837,550	12,664,510,755	12,016,102,611	9,796,865,072	8,548,324,652	7,533,091,888	6,673,560,366	5,976,233,704	6,287,854,689	6,456,588,873	6,370,936,481	5,887,445,180	5,947,468,690	7,271,636,162	6,684,691,064
Total Assets Margin	2,057.43%	2,140.26%	1,992.63%	2,192.59%	2,001.25%	1,819.49%	1,698.21%	1,998.03%	2,102.58%	2,071.69%	2,177.13%	2,351.88%	2,256.74%	1,983.00%	1,632.25%	1,352.75%	2,000.27%	1,143.44%	1,957.35%	2,290.30%	4,852.37%	2,719.06%	1,004.25%	2,098.06%	885.89%	1,595.35%	1,552.59%	784.37%	952.82%	1,359.00%	1,503.42%	862.62%	1,756.60%	1,299.39%	884.78%	768.79%	749.53%
Accounts Payable	821,949,350	891,227,020	784,572,826	725,491,869	620,780,621	552,439,420	481,717,159	791,487,740	862,821,890	811,538,420	966,160,010	1,024,127,040	771,308,530	486,614,580	600,106,570	586,482,390	945,081,090	796,371,880	558,719,910	673,497,200	531,343,020	476,717,770	447,669,990	306,801,110	280,670,961	243,474,379	254,617,930	261,532,844	356,310,866	260,157,573	254,065,251	263,306,558	419,187,742	221,341,513	0	0	0
Accounts Payable Margin	57.03%	64.65%	57.17%	60.17%	54.38%	52.83%	49.51%	52.36%	60.98%	57.74%	68.76%	83.38%	63.51%	37.80%	38.92%	33.12%	75.15%	34.50%	42.76%	65.61%	123.00%	64.91%	27.69%	50.83%	20.69%	39.65%	46.25%	27.23%	50.87%	59.16%	60.75%	35.18%	115.58%	48.85%	0.00%	0.00%	0.00%
Short-Term Debt	792,730,197	885,443,170	651,685,659	636,737,620	523,106,818	449,112,097	398,321,753	1,200,470,200	569,902,020	607,818,370	1,038,393,870	1,010,631,390	416,565,730	431,860,800	387,775,010	0	853,439,200	1,020,142,610	212,974,210	143,053,890	694,062,000	963,975,000	408,725,400	295,619,000	128,530,000	78,197,652	0	0	0	77,259,383	39,343,033	649,063,647	721,850,186	0	0	0	0
Short-Term Debt Margin	54.32%	63.83%	48.00%	56.42%	47.14%	42.26%	41.85%	79.42%	40.28%	43.25%	73.90%	82.28%	34.30%	33.55%	25.15%	0.00%	67.87%	44.19%	16.30%	13.94%	160.67%	131.26%	25.28%	48.97%	9.48%	12.73%	0.00%	0.00%	0.00%	17.57%	9.41%	86.72%	199.03%	0.00%	0.00%	0.00%	0.00%
Tax Payables	53,554,167	63,236,760	76,578,174	83,081,792	79,606,983	75,478,471	65,898,188	40,358,420	61,565,870	58,738,210	70,820,030	84,701,270	108,864,910	74,675,930	65,678,830	126,216,460	74,161,810	206,419,180	0	57,324,380	58,481,150	158,220,430	153,079,230	114,224,611	0	29,266,281	49,342,667	80,421,221	77,555,002	47,826,013	45,036,912	43,982,966	89,983,853	0	0	0	0
Tax Payables Margin	3.73%	4.63%	5.52%	6.99%	7.35%	7.76%	7.29%	2.67%	4.35%	4.18%	5.04%	6.90%	8.96%	5.80%	4.26%	7.13%	5.90%	8.94%	0.00%	5.58%	13.54%	21.54%	9.47%	18.92%	0.00%	4.77%	8.96%	8.37%	11.07%	10.88%	10.77%	5.88%	24.81%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	20,521,957	18,868,204	11,002,168	7,334,779	5,501,084	6,160,186	5,133,488	0	0	61,565,870	24,549,230	8,225,920	8,482,980	7,197,680	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	43,982,966	0	0	0	0	0
Deferred Revenue Margin	1.46%	1.36%	0.81%	0.54%	0.40%	0.56%	0.46%	0.00%	0.00%	4.38%	1.75%	0.67%	0.70%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	5.88%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	401,570,563	392,684,856	-232,883,507	-346,988,157	-258,777,803	-204,245,995	-106,616,063	389,574,430	439,958,190	375,179,070	396,129,460	362,583,130	345,103,050	-995,978,970	-1,056,002,480	-712,698,850	-1,872,682,100	-2,022,933,670	-854,724,500	1,670,890	0	0	0	0	0	29,266,281	0	0	69,406,200	0	0	0	68,840,668	173,566,912	538,900,584	550,211,224	576,148,578
Other Current Liabilities Margin	27.85%	28.25%	-16.53%	-21.22%	-15.67%	-12.14%	-1.44%	25.77%	31.10%	26.69%	28.19%	29.52%	28.42%	-77.37%	-68.50%	-40.25%	-148.92%	-87.63%	-65.42%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	4.77%	0.00%	0.00%	9.91%	0.00%	0.00%	0.00%	18.98%	38.31%	80.17%	58.17%	64.60%
Total Current Liabilities	2,093,753,700	2,254,981,732	1,858,042,533	1,641,705,121	1,376,459,903	1,204,459,257	1,119,076,007	2,424,846,980	1,938,103,870	1,918,310,250	2,500,037,030	2,493,610,530	1,653,281,390	1,333,755,810	1,377,584,540	1,068,212,830	1,872,682,100	2,286,805,760	0	875,546,360	1,283,886,170	1,598,913,200	1,009,474,620	716,708,986	522,538,715	350,938,312	303,960,597	341,954,065	503,272,068	387,864,981	338,445,196	1,010,747,067	1,299,862,449	495,675,945	538,900,584	550,211,224	576,148,578
Total Current Liabilities Margin	144.63%	162.97%	135.32%	136.83%	119.22%	111.84%	115.56%	160.43%	136.98%	136.49%	177.91%	203.02%	136.13%	103.61%	89.35%	60.33%	148.92%	99.06%	0.00%	85.30%	297.20%	217.71%	62.43%	118.73%	38.52%	57.15%	55.21%	35.61%	71.86%	88.20%	80.92%	135.04%	358.40%	109.40%	80.17%	58.17%	64.60%
Long-Term Debt	5,823,994,203	5,260,681,488	4,448,089,122	4,231,430,385	3,461,925,988	2,990,220,117	2,491,850,097	6,227,792,620	5,945,669,270	5,298,520,720	4,858,948,120	3,972,476,710	3,582,388,160	3,507,712,230	3,216,077,660	3,926,720,030	3,944,585,700	4,133,267,740	5,573,960,510	4,695,457,960	2,865,447,820	1,722,430,530	978,113,300	1,178,157,392	1,083,842,078	1,011,968,102	1,514,983,110	822,219,263	1,454,869,629	1,625,917,353	1,613,976,916	0	0	0	0	0	0
Long-Term Debt Margin	403.08%	375.69%	319.00%	343.40%	296.32%	279.02%	232.51%	412.02%	420.23%	376.99%	345.78%	323.43%	294.97%	272.50%	208.60%	221.75%	313.68%	179.04%	426.63%	457.45%	663.31%	234.53%	60.49%	195.18%	79.91%	164.79%	275.16%	85.61%	207.72%	369.73%	385.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Capital Lease Obligations	34,574,570	36,348,284	29,870,372	20,213,485	20,611,071	16,488,857	13,740,714	33,803,390	35,731,340	34,188,980	39,201,650	38,816,060	37,659,290	38,301,940	41,001,070	0	0	0	0	0	0	4,498,550	21,593,040	36,913,816	50,512,290	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	2.40%	2.63%	2.19%	1.50%	1.68%	1.35%	1.12%	2.24%	2.53%	2.43%	2.79%	3.16%	3.10%	2.98%	2.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.61%	1.34%	6.12%	3.72%	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	1,909,784,427	1,936,690,040	1,657,137,290	1,444,094,531	1,331,360,653	1,083,734,113	903,111,761	1,891,961,600	1,921,523,500	1,915,868,180	2,053,138,220	1,900,958,700	1,784,510,520	1,271,804,350	1,307,535,690	1,220,263,820	1,303,808,320	1,378,741,310	0	1,278,102,320	1,238,643,610	1,194,557,820	1,740,039,140	1,100,461,007	955,517,726	660,862,701	508,914,535	381,721,247	84,418,504	0	0	0	0	0	0	0	0
Deferred Tax Liabilities Margin	132.43%	139.63%	120.13%	122.33%	119.77%	97.89%	81.57%	125.17%	135.81%	136.31%	146.11%	154.77%	146.94%	98.80%	84.81%	68.91%	103.68%	59.72%	0.00%	124.52%	286.73%	162.65%	107.62%	182.31%	70.45%	107.62%	92.43%	39.75%	12.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Liabilities	647,148,550	-418,133,796	-909,555,398	-698,286,353	-493,653,525	-243,850,201	3,331,926	0	3,891,502,810	-1,950,057,160	-2,092,339,870	-1,939,774,760	-1,822,169,810	-1,310,106,290	-1,348,536,760	-1,220,263,820	-1,303,808,320	-1,378,741,310	0	0	0	0	0	0	142,282,710	192,795,000	266,147,071	290,606,330	105,985,838	167,423,178	173,476,941	3,039,323,204	2,591,434,713	1,168,659,025	722,659,925	679,062,549	1,034,396,587
Other Non-Current Liabilities Margin	45.43%	-34.11%	-68.24%	-49.48%	-32.60%	-4.84%	38.23%	0.00%	275.05%	-138.75%	-148.90%	-157.93%	-150.04%	-101.78%	-87.47%	-68.91%	-103.68%	-59.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.49%	31.40%	48.34%	30.26%	15.13%	38.07%	41.48%	406.07%	714.51%	257.93%	107.51%	71.79%	115.98%
Total Non-Current Liabilities	7,116,063,450	6,035,923,036	4,835,709,896	4,737,564,388	4,128,458,790	3,693,164,568	3,284,177,567	8,150,601,420	7,899,068,210	5,298,520,720	4,858,948,120	3,972,476,710	3,582,388,160	3,507,712,230	3,216,077,660	3,926,720,030	3,944,585,700	4,133,267,740	5,573,960,510	5,973,560,280	4,104,091,430	2,921,486,900	2,739,745,480	2,315,532,215	2,232,154,804	1,928,232,766	2,290,044,716	1,494,546,840	1,645,273,971	1,793,340,531	1,787,453,857	3,039,323,204	2,591,434,713	1,168,659,025	722,659,925	679,062,549	1,034,396,587
Total Non-Current Liabilities Margin	491.51%	428.75%	345.52%	399.38%	371.91%	362.80%	344.59%	539.23%	558.29%	376.99%	345.78%	323.43%	294.97%	272.50%	208.60%	221.75%	313.68%	179.04%	426.63%	581.97%	950.04%	397.79%	169.44%	383.60%	164.57%	314.00%	415.93%	155.62%	234.91%	407.81%	427.38%	406.07%	714.51%	257.93%	107.51%	71.79%	115.98%
Total Liabilities	9,860,050,420	9,487,776,128	6,561,636,442	6,138,738,467	5,324,520,411	4,753,305,200	4,282,988,053	10,575,448,400	9,837,172,080	9,167,530,780	9,451,967,670	8,406,761,710	3,582,388,160	3,507,712,230	3,216,077,660	3,926,720,030	3,944,585,700	4,133,267,740	5,573,960,510	6,849,106,640	5,387,977,600	4,520,400,100	3,749,220,100	3,032,241,201	2,754,693,519	2,279,171,078	2,594,005,313	1,836,500,905	2,148,546,039	2,181,205,512	2,125,899,053	4,050,070,271	3,891,297,162	1,664,334,970	1,261,560,509	1,229,273,773	1,610,545,165
Total Liabilities Margin	682.40%	680.86%	471.58%	523.43%	481.55%	466.98%	453.76%	699.66%	695.28%	652.27%	672.63%	684.46%	294.97%	272.50%	208.60%	221.75%	313.68%	179.04%	426.63%	667.27%	1,247.25%	615.51%	231.88%	502.34%	203.09%	371.15%	471.14%	191.22%	306.76%	496.01%	508.30%	541.10%	1,072.91%	367.33%	187.68%	129.96%	180.58%
Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock 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%
Common Stock	522,474,450	522,474,450	520,263,734	426,436,834	337,007,588	269,606,070	224,671,725	522,474,450	522,474,450	522,474,450	522,474,450	522,474,450	522,474,450	522,474,450	522,474,450	522,474,450	500,367,290	500,367,290	173,515,500	173,515,500	173,258,440	173,258,440	172,101,670	171,497,579	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Margin	36.22%	37.68%	37.52%	32.72%	26.49%	21.19%	17.66%	34.57%	36.93%	37.17%	37.18%	42.54%	43.02%	40.59%	33.89%	29.51%	39.79%	21.67%	13.28%	16.90%	40.11%	23.59%	10.64%	28.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	10,990,343,240	10,801,198,492	10,209,716,285	8,310,347,073	6,598,320,832	5,278,656,666	4,398,880,555	11,109,876,140	11,043,554,660	10,817,598,920	10,617,863,300	10,417,099,440	10,825,310,720	10,086,520,280	9,542,452,790	8,988,488,490	8,648,398,110	8,373,729,500	7,631,597,280	0	6,552,716,460	0	0	0	4,085,120,402	3,226,090,147	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings Margin	761.74%	777.79%	737.82%	656.13%	533.42%	426.74%	355.61%	735.02%	780.54%	769.68%	755.60%	848.14%	891.35%	783.58%	618.95%	507.61%	687.72%	362.73%	584.12%	0.00%	1,516.87%	0.00%	0.00%	0.00%	301.18%	525.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accumulated OCI	609,917,693	781,333,870	632,174,805	544,598,747	408,449,061	326,759,248	272,299,374	677,738,690	562,061,690	589,952,700	1,178,234,510	898,681,760	421,578,400	537,383,930	656,017,120	248,705,550	551,393,700	897,524,990	949,708,170	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated OCI Margin	42.18%	56.71%	46.05%	38.14%	28.60%	22.88%	19.07%	44.84%	39.73%	41.98%	83.85%	73.17%	34.71%	41.75%	42.55%	14.05%	43.85%	38.88%	72.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	7,705,887,620	8,116,438,146	8,234,518,657	8,238,335,998	7,266,290,599	6,143,315,506	5,408,349,177	7,314,899,360	7,783,262,680	8,019,500,820	8,822,941,850	8,641,586,020	8,615,751,490	8,263,065,170	8,536,834,070	8,014,488,150	8,332,856,960	8,826,155,100	8,461,901,080	8,276,175,230	7,796,372,740	7,869,249,250	6,032,555,550	4,666,898,594	4,533,870,044	3,778,062,232	2,739,385,596	2,761,145,725	2,063,176,413	1,604,889,845	1,827,863,689	0	0	1,820,845,951	2,003,705,582	2,688,359,186	2,154,676,920
Minority Interest Margin	534.88%	587.22%	595.64%	711.26%	663.11%	585.85%	529.07%	483.95%	550.11%	570.59%	627.87%	703.58%	709.42%	641.93%	553.72%	452.60%	662.63%	382.33%	647.67%	806.30%	1,804.76%	1,071.49%	373.09%	773.14%	334.26%	615.23%	497.54%	287.50%	294.57%	364.95%	437.04%	0.00%	0.00%	401.87%	298.08%	284.23%	241.59%
Total Shareholders’ Equity	12,122,735,383	12,105,006,812	11,348,016,524	10,404,177,891	8,958,310,289	7,659,769,514	6,844,393,873	12,310,089,280	12,128,090,800	11,930,026,070	12,318,572,260	11,838,255,650	11,734,017,820	11,111,032,910	10,685,598,610	9,724,322,740	9,700,159,100	9,771,621,780	9,070,619,160	8,383,240,720	7,777,350,300	7,579,671,160	6,456,061,900	4,965,370,960	4,727,539,048	3,739,631,762	3,214,933,743	2,935,445,258	2,461,837,914	2,190,138,347	2,334,091,947	2,406,518,602	2,479,639,319	2,402,264,259	2,682,202,599	3,354,003,203	2,919,468,979
Total Shareholders’ Equity Margin	840.15%	872.18%	820.39%	864.71%	786.69%	710.75%	668.78%	814.42%	857.19%	848.82%	876.63%	963.84%	966.18%	863.18%	693.10%	549.16%	771.36%	423.28%	694.26%	816.73%	1,800.36%	1,032.06%	399.28%	822.59%	348.54%	608.97%	583.91%	305.65%	351.49%	498.04%	558.08%	321.52%	683.69%	530.19%	399.02%	354.60%	327.35%
Total Equity	19,828,623,003	20,221,444,958	19,582,535,181	18,642,513,889	16,224,600,888	13,803,085,020	12,252,743,050	19,624,988,640	19,911,353,480	19,949,526,890	21,141,514,110	20,479,841,670	20,349,769,310	19,374,098,080	19,222,432,680	17,738,810,890	18,033,016,060	18,597,776,880	17,532,520,240	16,659,415,950	15,573,723,040	15,448,920,410	12,488,617,450	9,632,269,554	9,261,409,092	7,517,693,994	5,954,319,339	5,696,590,983	4,525,014,327	3,795,028,192	4,161,955,636	2,406,518,602	2,479,639,319	4,223,110,210	4,685,908,181	6,042,362,389	5,074,145,899
Total Equity Margin	1,375.03%	1,459.40%	1,416.03%	1,575.97%	1,449.80%	1,296.60%	1,197.85%	1,298.37%	1,407.30%	1,419.41%	1,504.50%	1,667.42%	1,675.60%	1,505.10%	1,246.82%	1,001.76%	1,433.99%	805.61%	1,341.94%	1,623.03%	3,605.12%	2,103.55%	772.38%	1,595.73%	682.80%	1,224.20%	1,081.46%	593.15%	646.06%	862.99%	995.12%	321.52%	683.69%	932.06%	697.10%	638.83%	568.94%
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	371,494,543	645,400,542	2,573,299,130	3,102,714,200	2,365,914,690	1,938,664,775	1,644,541,350	0	571,958,500	542,525,130	1,029,782,360	1,082,736,720	458,723,570	791,744,800	887,242,590	375,693,190	19,992,584,440	19,977,803,490	0	298,575,190	276,596,560	254,746,460	209,118,310	192,769,294	0	185,597,320	190,095,870	178,965,172	193,244,855	243,230,172	245,338,064	287,547,316	323,008,743	40,229,890	308,651,942	0	197,730,552
Total Investments Margin	26.34%	48.09%	200.83%	200.10%	155.56%	132.39%	115.86%	0.00%	40.43%	38.60%	73.28%	88.15%	37.77%	61.51%	57.55%	21.22%	1,589.82%	865.39%	0.00%	29.09%	64.03%	34.69%	12.93%	31.94%	0.00%	30.22%	34.53%	18.63%	27.59%	55.31%	58.66%	38.42%	89.06%	8.88%	45.92%	0.00%	22.17%
Net Debt	5,672,885,767	5,442,063,024	3,873,482,904	2,546,359,242	2,039,528,178	1,882,928,512	1,569,107,093	6,071,757,200	5,736,036,840	5,210,863,260	5,370,883,110	4,820,774,710	3,817,598,060	3,100,400,660	2,385,002,680	896,239,690	1,325,272,830	-15,937,720	547,280,740	-326,209,140	198,578,850	-943,153,140	-114,905,820	272,727,807	-167,795,915	1,090,165,754	1,514,983,110	822,219,263	1,454,869,629	1,703,176,736	1,653,319,949	649,063,647	0	0	0	0	0
Net Debt Margin	392.62%	390.52%	281.85%	183.03%	161.19%	175.46%	146.22%	401.70%	405.41%	370.75%	382.21%	392.50%	314.34%	240.86%	154.70%	50.61%	105.39%	-0.69%	41.89%	-31.78%	45.97%	-128.42%	-7.11%	45.18%	-12.37%	177.53%	275.16%	85.61%	207.72%	387.30%	395.31%	86.72%	0.00%	0.00%	0.00%	0.00%	0.00%

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	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	1,443,948,863	1,393,059,552	1,403,701,836	1,322,993,565	1,229,325,185	1,114,150,994	1,039,315,430	1,511,512,800	1,414,858,240	1,405,475,550	1,405,218,490	1,228,232,680	1,214,479,970	1,287,227,950	1,541,717,350	1,770,757,810	1,257,537,520	2,308,527,330	1,306,507,450	1,026,440,580	431,989,330	734,420,420	1,616,907,400	603,628,292	1,356,389,943	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
Working Capital	359,884,000	-409,445,168	-87,516,077	1,225,473,569	1,367,349,696	1,367,058,447	1,241,817,444	1,114,612,160	1,150,214,970	-1,185,175,130	-1,341,210,550	-1,785,667,290	-1,431,310,080	-453,453,840	-505,508,490	1,962,267,510	1,600,069,970	2,882,542,310	5,026,679,770	5,363,299,840	3,024,696,490	2,960,045,900	1,467,298,480	1,602,627,717	1,915,611,120	1,975,994,514	2,003,358,551	1,648,538,633	1,550,431,684	1,339,359,718	1,539,416,663	751,720,558	346,516,880	1,021,466,469	-538,900,584	1,105,615,060	1,143,364,321
Working Capital Margin	23.57%	-34.02%	-11.79%	134.49%	160.03%	174.66%	161.75%	73.74%	81.30%	-84.33%	-95.44%	-145.39%	-117.85%	-35.23%	-32.79%	110.82%	127.24%	124.86%	384.74%	522.51%	700.18%	403.05%	90.75%	265.50%	141.23%	321.78%	363.86%	171.65%	221.36%	304.57%	368.07%	100.43%	95.54%	225.44%	-80.17%	116.89%	128.20%
Total Capital	18,775,191,123	18,289,639,058	16,440,542,213	15,253,614,791	12,932,220,108	11,090,203,338	9,727,150,400	19,772,155,490	18,679,393,430	17,874,024,450	18,259,100,330	16,863,521,590	15,773,587,190	15,091,735,540	13,942,677,340	13,651,042,770	14,498,184,000	14,925,032,130	14,644,579,670	13,221,752,570	11,336,860,120	10,270,575,240	7,864,493,640	6,476,061,168	5,939,911,126	4,829,797,516	4,729,916,853	3,757,664,521	3,916,707,543	3,893,315,083	3,987,411,896	3,055,582,249	3,201,489,505	2,402,264,259	2,682,202,599	3,354,003,203	2,919,468,979
Total Capital Margin	1,300.03%	1,314.49%	1,187.18%	1,263.34%	1,129.65%	1,031.61%	942.81%	1,308.10%	1,320.23%	1,271.74%	1,299.38%	1,372.99%	1,298.79%	1,172.42%	904.36%	770.92%	1,152.90%	646.52%	1,120.90%	1,288.12%	2,624.34%	1,398.46%	486.39%	1,072.86%	437.92%	786.50%	859.07%	391.26%	559.21%	885.34%	953.39%	408.24%	882.72%	530.19%	399.02%	354.60%	327.35%
Capital Employed	27,594,919,723	27,454,239,354	25,717,169,257	24,502,376,531	21,194,783,369	18,169,628,541	16,098,069,744	27,775,590,060	27,810,421,690	27,198,747,420	28,093,444,750	26,392,992,850	25,754,327,280	24,191,916,600	23,787,047,100	22,885,794,740	23,281,410,080	24,109,785,930	25,572,971,450	22,632,976,230	19,677,814,470	18,370,407,310	15,228,362,930	11,947,801,769	11,493,563,896	9,445,926,760	8,244,364,055	7,191,137,823	6,170,288,298	5,588,368,723	5,949,409,493	5,445,841,806	5,071,074,032	5,391,769,235	5,408,568,106	6,721,424,938	6,108,542,486
Capital Employed Margin	1,912.80%	1,977.30%	1,857.31%	2,055.76%	1,882.02%	1,707.64%	1,582.65%	1,837.60%	1,965.60%	1,935.20%	1,999.22%	2,148.86%	2,120.61%	1,879.38%	1,542.89%	1,292.43%	1,851.35%	1,044.38%	1,957.35%	2,205.00%	4,555.16%	2,501.35%	941.82%	1,979.33%	847.36%	1,538.20%	1,497.39%	748.76%	880.97%	1,270.80%	1,422.50%	727.59%	1,398.20%	1,189.99%	804.61%	710.62%	684.92%
Invested Capital	17,795,621,150	17,547,069,836	15,221,499,428	12,950,537,133	10,997,838,467	9,542,698,025	8,437,562,639	18,381,846,480	17,864,127,640	17,140,889,330	17,689,455,370	16,659,030,360	15,551,615,880	14,211,433,570	13,070,601,290	10,620,562,430	11,025,431,930	9,755,684,060	9,617,899,900	8,057,031,580	7,975,929,150	6,636,518,020	6,341,156,080	5,238,098,767	4,559,743,133	4,829,797,516	4,729,916,853	3,757,664,521	3,916,707,543	3,893,315,083	3,987,411,896	3,055,582,249	3,201,489,505	2,402,264,259	2,682,202,599	3,354,003,203	2,919,468,979
Invested Capital Margin	1,232.77%	1,262.70%	1,102.24%	1,047.73%	947.89%	886.21%	821.63%	1,216.12%	1,262.61%	1,219.58%	1,258.84%	1,356.34%	1,280.52%	1,104.03%	847.79%	599.77%	876.75%	422.59%	736.15%	784.95%	1,846.33%	903.64%	392.18%	867.77%	336.17%	786.50%	859.07%	391.26%	559.21%	885.34%	953.39%	408.24%	882.72%	530.19%	399.02%	354.60%	327.35%

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	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	1,443,948,863	1,393,059,552	1,403,701,836	1,322,993,565	1,229,325,185	1,114,150,994	1,039,315,430	1,511,512,800	1,414,858,240	1,405,475,550	1,405,218,490	1,228,232,680	1,214,479,970	1,287,227,950	1,541,717,350	1,770,757,810	1,257,537,520	2,308,527,330	1,306,507,450	1,026,440,580	431,989,330	734,420,420	1,616,907,400	603,628,292	1,356,389,943	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
Net Income	419,050,643	278,370,274	452,014,304	595,256,705	871,055,522	768,836,641	696,162,180	546,509,560	361,297,830	349,344,540	332,764,170	-198,064,730	876,060,480	679,281,050	683,008,420	477,231,890	412,709,830	877,217,250	585,711,210	1,453,545,770	464,893,010	1,027,340,290	3,937,773,610	923,385,226	1,883,902,769	1,104,342,613	642,855,648	1,064,524,019	249,014,022	128,645,677	175,584,833	182,037,039	185,905,792	272,496,453	289,500,972	502,886,478	413,159,685
Net Income Margin	28.85%	18.82%	32.31%	53.00%	81.35%	74.76%	70.76%	36.16%	25.54%	24.86%	23.68%	-16.13%	72.13%	52.77%	44.30%	26.95%	32.82%	38.00%	44.83%	141.61%	107.62%	139.88%	243.54%	152.97%	138.89%	179.83%	116.76%	110.84%	35.55%	29.25%	41.98%	24.32%	51.26%	60.14%	43.07%	53.17%	46.33%
Depreciation & Amortization	12,124,663	10,102,458	8,290,185	7,009,169	5,508,796	4,407,037	3,672,531	15,038,010	11,310,640	10,025,340	7,968,860	6,169,440	6,426,500	5,912,380	5,655,320	7,326,210	7,069,150	6,683,560	5,141,200	4,884,140	2,056,480	3,470,310	3,084,720	1,953,656	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation & Amortization Margin	0.84%	0.72%	0.59%	0.53%	0.43%	0.34%	0.28%	0.99%	0.80%	0.71%	0.57%	0.50%	0.53%	0.46%	0.37%	0.41%	0.56%	0.29%	0.39%	0.48%	0.48%	0.47%	0.19%	0.32%	0.00%	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 Income Tax	-65,507,457	-157,140,778	-118,067,658	-205,562,313	-154,171,735	-123,337,388	-102,781,157	0	0	-196,522,370	-406,540,390	-182,641,130	10,025,340	-54,753,780	-360,398,120	151,151,280	-140,997,410	-330,322,100	157,963,370	-838,529,720	-312,584,960	-579,284,710	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Income Tax Margin	-4.66%	-11.56%	-8.73%	-21.49%	-16.12%	-12.90%	-10.75%	0.00%	0.00%	-13.98%	-28.93%	-14.87%	0.83%	-4.25%	-23.38%	8.54%	-11.21%	-14.31%	12.09%	-81.69%	-72.36%	-78.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	10,496,617	9,408,396	10,732,255	13,778,416	12,052,901	9,642,321	8,035,267	9,511,220	10,667,990	11,310,640	8,482,980	7,069,150	8,611,510	9,125,630	10,025,340	13,238,590	19,279,500	20,179,210	21,078,920	29,947,490	13,624,180	14,523,890	17,223,020	17,158,755	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.73%	0.67%	0.77%	1.22%	1.11%	0.89%	0.74%	0.63%	0.75%	0.80%	0.60%	0.58%	0.71%	0.71%	0.65%	0.75%	1.53%	0.87%	1.61%	2.92%	3.15%	1.98%	1.07%	2.84%	0.00%	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	-136,027,583	-184,646,198	-58,853,887	-10,873,638	3,799,347	3,039,477	2,532,898	-1,156,770	-243,692,880	-163,233,100	-355,771,040	-159,377,200	-18,636,850	45,628,150	350,372,780	-164,389,870	121,717,910	310,142,890	-84,187,150	48,327,280	-24,420,700	175,571,980	182,255,540	56,835,966	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Working Capital Margin	-9.64%	-13.44%	-4.21%	-0.81%	0.43%	0.34%	0.29%	-0.08%	-17.22%	-11.61%	-25.32%	-12.98%	-1.53%	3.54%	22.73%	-9.28%	9.68%	13.43%	-6.44%	4.71%	-5.65%	23.91%	11.27%	9.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accounts Receivable	1,413,830	-37,479,348	-22,467,044	-24,206,483	-18,154,863	-14,523,890	-12,103,242	28,790,720	7,454,740	-32,003,970	-33,803,390	-157,834,840	-29,304,840	-2,056,480	255,389,110	-361,169,300	99,867,810	93,055,720	-231,482,530	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	0.05%	-3.02%	-1.36%	-1.82%	-1.36%	-1.09%	-0.91%	1.90%	0.53%	-2.28%	-2.41%	-12.85%	-2.41%	-0.16%	16.57%	-20.40%	7.94%	4.03%	-17.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-146,995,477	-183,977,842	-54,792,339	-19,416,599	-14,562,449	-11,649,959	-9,708,299	20,436,270	-330,707,690	-130,715,010	-438,030,240	-40,872,540	10,667,990	47,684,630	94,983,670	196,779,430	21,850,100	217,087,170	52,440,240	2,570,600	-15,423,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Margin	-10.44%	-13.16%	-4.22%	-2.14%	-1.61%	-1.29%	-1.07%	1.35%	-23.37%	-9.30%	-31.17%	-3.33%	0.88%	3.70%	6.16%	11.11%	1.74%	9.40%	4.01%	0.25%	-3.57%	0.00%	0.00%	0.00%	0.00%	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	7,069,150	29,279,134	23,392,460	15,594,973	11,696,230	9,356,984	7,797,487	-53,982,600	77,632,120	-2,442,070	89,713,940	35,474,280	28,019,540	8,997,100	-14,009,770	64,522,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	0.58%	2.20%	1.68%	1.12%	0.84%	0.67%	0.56%	-3.57%	5.49%	-0.17%	6.38%	2.89%	2.31%	0.70%	-0.91%	3.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Working Capital	10,368,087	37,299,406	20,333,446	33,897,645	25,423,234	20,338,587	16,948,823	-50,383,760	79,560,070	1,927,950	116,062,590	39,330,180	-28,019,540	-8,997,100	14,009,770	-64,522,060	104,366,360	173,515,500	94,855,140	45,756,680	-8,997,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Working Capital Margin	0.81%	2.78%	1.64%	2.24%	1.68%	1.34%	1.12%	-3.33%	5.62%	0.14%	8.26%	3.20%	-2.31%	-0.70%	0.91%	-3.64%	8.30%	7.52%	7.26%	4.46%	-2.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Cash Items	345,959,917	570,467,552	366,850,326	301,497,105	-47,741,826	-84,356,810	-67,608,922	100,381,930	377,364,080	560,133,740	804,212,210	1,010,245,800	-150,123,040	99,353,690	86,757,750	569,902,020	210,275,080	772,079,710	137,012,980	-36,245,460	-7,711,800	-11,182,110	-2,954,133,520	-555,673,749	-857,320,806	-725,898,881	-384,266,141	-388,469,072	-157,089,366	-134,892,235	-112,810,781	-360,822,269	33,597,742	-347,699,356	-36,798,139	29,896,078	401,656,250
Other Non-Cash Items Margin	24.39%	42.53%	26.25%	19.98%	-11.32%	-15.80%	-13.99%	6.64%	26.67%	39.85%	57.23%	82.25%	-12.36%	7.72%	5.63%	32.18%	16.72%	33.44%	10.49%	-3.53%	-1.79%	-1.52%	-182.70%	-92.06%	-63.21%	-118.21%	-69.79%	-40.45%	-22.43%	-30.67%	-26.97%	-48.21%	9.26%	-76.74%	-5.47%	3.16%	45.04%
Net Cash from Operating Activities	586,096,800	526,561,704	695,989,950	735,945,643	716,633,153	599,135,397	557,432,896	670,283,950	516,947,660	571,058,790	391,116,790	483,401,330	732,363,940	784,547,120	1,135,819,610	903,308,840	771,051,470	1,986,302,620	664,757,160	661,929,500	135,856,210	630,439,650	1,186,203,370	443,659,854	1,026,581,963	378,443,732	258,589,507	676,054,947	91,924,656	-6,246,558	62,774,052	-178,785,230	219,503,534	-75,202,903	252,702,833	532,782,556	814,815,935
Net Cash from Operating Activities Margin	40.50%	37.74%	49.60%	54.31%	57.29%	48.76%	48.27%	44.35%	36.54%	40.63%	27.83%	39.36%	60.30%	60.95%	73.67%	51.01%	61.31%	86.04%	50.88%	64.49%	31.45%	85.84%	73.36%	73.50%	75.68%	61.63%	46.97%	70.39%	13.12%	-1.42%	15.01%	-23.89%	60.52%	-16.60%	37.59%	56.33%	91.36%
Capital Expenditures (PPE)	-124,202,823	-228,834,812	-608,628,109	-695,758,596	-597,252,561	-496,430,673	-438,617,622	-22,878,340	0	-349,730,130	-369,909,340	-401,656,250	-1,582,975,480	-1,672,689,420	-546,381,030	-344,717,460	-795,343,640	-681,851,650	-1,271,932,880	-688,920,800	-894,568,800	-812,823,720	-473,761,580	-291,403,216	-186,162,852	-369,395,220	-187,949,419	-170,546,457	-59,445,125	-22,094,307	-55,704,902	-157,924,811	-205,622,294	-112,013,895	-196,252,457	-53,417,068	-180,456,120
Capital Expenditures (PPE) Margin	-8.80%	-17.08%	-46.39%	-65.04%	-58.06%	-49.08%	-45.45%	-1.51%	0.00%	-24.88%	-26.32%	-32.70%	-130.34%	-129.95%	-35.44%	-19.47%	-63.25%	-29.54%	-97.35%	-67.12%	-207.08%	-110.68%	-29.30%	-48.28%	-13.72%	-60.15%	-34.14%	-17.76%	-8.49%	-5.02%	-13.32%	-21.10%	-56.69%	-24.72%	-29.20%	-5.65%	-20.23%
Acquisitions (Net)	-36,973,797	-32,543,796	-38,006,321	-24,129,365	-17,412,602	-8,582,205	-5,390,977	0	0	-110,921,390	-31,232,790	-20,564,800	147,809,500	-318,882,930	13,624,180	-67,478,250	7,583,270	0	0	18,122,730	0	0	-1,927,950	0	0	0	15,616,395	0	110,175,916	23,520,990	0	0	0	1,182,476	0	47,504,688	4,138,666
Acquisitions (Net) Margin	-2.63%	-2.36%	-2.67%	-1.66%	-1.11%	-0.05%	0.15%	0.00%	0.00%	-7.89%	-2.22%	-1.67%	12.17%	-24.77%	0.88%	-3.81%	0.60%	0.00%	0.00%	1.77%	0.00%	0.00%	-0.12%	0.00%	0.00%	0.00%	2.84%	0.00%	15.73%	5.35%	0.00%	0.00%	0.00%	0.26%	0.00%	5.02%	0.46%
Purchases of Investments	-38,687,530	33,546,330	-63,133,936	-140,988,841	-106,086,091	-91,082,013	-76,211,864	-3,084,720	0	-112,977,870	0	283,794,240	1,186,588,960	-128,530	-1,422,570,040	-1,413,830	-561,547,570	0	0	-414,252,190	-1,670,890	-1,067,570,180	0	0	0	0	-6,889,208	-1,516,654	-100,086,311	-30,320,227	0	-23,405,313	-2,043,627	-12,853	0	0	-7,249,092
Purchases of Investments Margin	-2.75%	2.97%	-2.44%	-14.04%	-10.59%	-9.45%	-7.92%	-0.20%	0.00%	-8.04%	0.00%	23.11%	97.70%	-0.01%	-92.27%	-0.08%	-44.65%	0.00%	0.00%	-40.36%	-0.39%	-145.36%	0.00%	0.00%	0.00%	0.00%	-1.25%	-0.16%	-14.29%	-6.89%	0.00%	-3.13%	-0.56%	0.00%	0.00%	0.00%	-0.81%
Sales / Maturities of Investments	1,756,577	49,689,698	197,704,846	164,706,911	128,848,112	105,030,603	89,286,364	0	0	5,269,730	151,151,280	92,027,480	248,577,020	1,016,029,650	7,968,860	440,729,370	15,295,070	62,594,110	0	69,534,730	361,426,360	0	128,530	90,138,089	10,488,048	0	5,603,908	218,501	31,168,525	437,002	16,978,813	0	0	1,452,389	47,594,659	0	3,778,782
Sales / Maturities of Investments Margin	0.12%	3.72%	14.46%	15.85%	12.73%	10.53%	9.03%	0.00%	0.00%	0.37%	10.76%	7.49%	20.47%	78.93%	0.52%	24.89%	1.22%	2.71%	0.00%	6.77%	83.67%	0.00%	0.01%	14.93%	0.77%	0.00%	1.02%	0.02%	4.45%	0.10%	4.06%	0.00%	0.00%	0.32%	7.08%	0.00%	0.42%
Other Investing Activities	-192,623,627	-150,071,628	-106,975,519	76,209,721	67,971,163	61,199,817	55,021,551	-368,881,100	-365,667,850	156,678,070	64,907,650	-237,394,910	-1,126,693,980	326,209,140	133,414,140	188,553,510	159,120,140	142,154,180	1,233,888,000	760,254,950	34,960,160	41,643,720	22,492,750	32,877,974	59,406,566	63,519,526	37,980,615	-56,051,933	20,050,680	26,348,650	65,717,389	114,507,377	-21,901,512	-25,911,648	5,938,086	-16,233,339	178,759,524
Other Investing Activities Margin	-13.03%	-10.76%	-8.93%	6.61%	6.38%	6.47%	5.64%	-24.40%	-25.84%	11.15%	4.62%	-19.33%	-92.77%	25.34%	8.65%	10.65%	12.65%	6.16%	94.44%	74.07%	8.09%	5.67%	1.39%	5.45%	4.38%	10.34%	6.90%	-5.84%	2.86%	5.99%	15.71%	15.30%	-6.04%	-5.72%	0.88%	-1.72%	20.04%
Net Cash from Investing Activities	-390,731,200	-328,214,208	-619,039,039	-619,960,171	-523,931,980	-429,864,472	-375,912,548	-394,844,160	-365,667,850	-411,681,590	-185,083,200	-283,794,240	-1,126,693,980	-649,462,090	-1,813,943,890	215,673,340	-1,174,892,730	-477,103,360	-38,044,880	-255,260,580	-499,853,170	-1,838,750,180	-453,068,250	-168,387,153	-116,268,238	-305,875,694	-135,637,709	-227,896,543	1,863,685	-2,107,892	26,991,300	-66,822,747	-229,567,433	-135,303,531	-142,719,712	-22,145,719	-1,028,240
Net Cash from Investing Activities Margin	-27.09%	-23.51%	-45.97%	-58.28%	-50.66%	-41.58%	-38.55%	-26.12%	-25.84%	-29.29%	-13.17%	-23.11%	-92.77%	-50.45%	-117.66%	12.18%	-93.43%	-20.67%	-2.91%	-24.87%	-115.71%	-250.37%	-28.02%	-27.90%	-8.57%	-49.81%	-24.64%	-23.73%	0.27%	-0.48%	6.45%	-8.93%	-63.30%	-29.86%	-21.23%	-2.34%	-0.12%
Net Debt Issuance	573,029,583	690,823,044	243,063,083	411,587,335	325,945,011	263,530,714	228,132,181	948,294,340	624,398,740	146,395,670	853,696,260	881,330,210	92,156,010	412,709,830	-525,045,050	-713,084,440	-290,220,740	-634,038,490	922,845,400	1,302,523,020	853,182,140	1,298,667,120	-85,472,450	108,247,966	59,008,123	-427,233,720	690,540,278	-631,493,596	193,771,828	47,543,247	69,200,552	390,345,610	17,929,935	439,289,834	114,545,936	-493,542,347	177,474,224
Net Debt Issuance Margin	39.10%	49.96%	19.20%	49.10%	40.46%	34.03%	31.25%	62.74%	44.13%	10.42%	60.75%	71.76%	7.59%	32.06%	-34.06%	-40.27%	-23.08%	-27.47%	70.63%	126.90%	197.50%	176.83%	-5.29%	17.93%	4.35%	-69.57%	125.42%	-65.75%	27.67%	10.81%	16.55%	52.15%	4.94%	96.95%	17.04%	-52.18%	19.90%
Long-Term Debt Issuance	573,029,583	690,823,044	243,063,083	457,815,291	361,751,541	292,481,840	252,258,119	948,294,340	624,398,740	146,395,670	853,696,260	881,330,210	92,156,010	412,709,830	-525,045,050	-713,084,440	-290,220,740	-634,038,490	922,845,400	1,302,523,020	1,546,601,490	1,298,667,120	-85,472,450	120,304,080	69,663,260	-427,233,720	690,540,278	-631,493,596	201,419,363	47,543,247	69,200,552	390,345,610	17,929,935	439,289,834	114,545,936	-493,542,347	177,474,224
Long-Term Debt Issuance Margin	39.10%	49.96%	19.20%	59.80%	48.63%	40.60%	36.73%	62.74%	44.13%	10.42%	60.75%	71.76%	7.59%	32.06%	-34.06%	-40.27%	-23.08%	-27.47%	70.63%	126.90%	358.02%	176.83%	-5.29%	19.93%	5.14%	-69.57%	125.42%	-65.75%	28.76%	10.81%	16.55%	52.15%	4.94%	96.95%	17.04%	-52.18%	19.90%
Short-Term Debt Issuance	0	0	0	-46,227,957	-35,806,530	-28,951,125	-24,125,938	0	0	0	0	0	0	0	0	0	0	0	0	0	-693,419,350	0	0	-12,056,114	-10,655,137	0	0	0	-7,647,535	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.00%	0.00%	0.00%	-10.70%	-8.17%	-6.58%	-5.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-160.52%	0.00%	0.00%	-2.00%	-0.79%	0.00%	0.00%	0.00%	-1.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	0	0	1,760,861	96,200,421	72,392,595	57,829,760	47,149,902	0	0	0	0	0	0	0	0	17,608,610	0	6,169,440	257,060	2,185,010	642,650	1,416,143,540	3,984,430	257,060	604,091	0	0	0	0	0	0	-2,107,892	-2,814,807	0	-18,893,910	-9,615,329	77,118
Net Stock Issuance Margin	0.00%	0.00%	0.10%	12.96%	9.74%	7.78%	6.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%	0.00%	0.27%	0.02%	0.21%	0.15%	192.82%	0.25%	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.28%	-0.78%	0.00%	-2.81%	-1.02%	0.01%
Common Stock Issuance	0	0	1,760,861	96,294,676	73,343,717	58,674,973	48,904,808	0	0	0	0	0	0	0	0	17,608,610	0	6,169,440	257,060	2,185,010	642,650	1,417,557,370	21,593,040	257,060	604,091	0	0	0	0	0	0	0	0	0	89,971	102,824	77,118
Common Stock Issuance Margin	0.00%	0.00%	0.10%	12.98%	9.80%	7.84%	6.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%	0.00%	0.27%	0.02%	0.21%	0.15%	193.02%	1.34%	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%
Common Stock Repurchased	0	0	0	-17,300,138	-12,975,104	-10,464,398	-9,770,893	0	0	0	0	0	0	0	0	0	0	0	0	0	-258,088,240	-1,413,830	0	0	0	0	0	0	0	0	0	-2,107,892	-2,814,807	0	-18,983,881	-9,718,153	0
Common Stock Repurchased Margin	0.00%	0.00%	0.00%	-4.00%	-3.00%	-2.41%	-2.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-59.74%	-0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.28%	-0.78%	0.00%	-2.82%	-1.03%	0.00%
Preferred Stock Issuance	0	0	0	0	-880,431	-704,344	-586,954	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-17,608,610	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	-0.05%	-0.04%	-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%	0.00%	0.00%	0.00%	-1.09%	0.00%	0.00%	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	-150,508,630	-157,500,662	-148,799,181	-139,566,443	-158,795,602	-157,552,074	-158,901,639	-150,508,630	-150,508,630	-150,508,630	-147,038,320	-188,939,100	-139,969,170	-139,969,170	-139,969,170	-139,455,050	-141,125,940	-139,326,520	-137,012,980	-98,839,570	-98,839,570	-131,486,190	-125,445,280	-288,845,469	-259,283,569	-208,848,397	-199,992,680	-186,522,736	-141,305,882	-137,938,396	-144,005,012	-153,117,789	-61,488,752	-124,584,129	-217,022,905	-226,328,477	-198,823,057
Net Dividends Paid Margin	-10.43%	-11.43%	-10.77%	-11.64%	-15.99%	-17.82%	-18.95%	-9.96%	-10.64%	-10.71%	-10.46%	-15.38%	-11.53%	-10.87%	-9.08%	-7.88%	-11.22%	-6.04%	-10.49%	-9.63%	-22.88%	-17.90%	-7.76%	-47.85%	-19.12%	-34.01%	-36.32%	-19.42%	-20.18%	-31.37%	-34.43%	-20.46%	-16.95%	-27.50%	-32.29%	-23.93%	-22.29%
Common Dividends Paid	-150,508,630	-157,500,662	-148,799,181	-141,760,021	-152,045,849	-152,152,272	-153,128,071	-150,508,630	-150,508,630	-150,508,630	-147,038,320	-188,939,100	-139,969,170	-139,969,170	-139,969,170	-139,455,050	-141,125,940	-139,326,520	-137,012,980	-98,839,570	-131,743,250	-131,486,190	-125,445,280	-120,946,730	-259,283,569	-208,848,397	-199,992,680	-186,522,736	-141,305,882	-137,938,396	-144,005,012	-153,117,789	-115,419,940	-32,440,972	-217,022,905	-226,328,477	-198,823,057
Common Dividends Paid Margin	-10.43%	-11.43%	-10.77%	-12.15%	-14.98%	-17.01%	-18.10%	-9.96%	-10.64%	-10.71%	-10.46%	-15.38%	-11.53%	-10.87%	-9.08%	-7.88%	-11.22%	-6.04%	-10.49%	-9.63%	-30.50%	-17.90%	-7.76%	-20.04%	-19.12%	-34.01%	-36.32%	-19.42%	-20.18%	-31.37%	-34.43%	-20.46%	-31.82%	-7.16%	-32.29%	-23.93%	-22.29%
Preferred Dividends Paid	0	0	0	0	-17,160,683	-13,728,546	-11,440,455	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-175,314,920	-167,898,739	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Dividends Paid Margin	0.00%	0.00%	0.00%	0.00%	-1.93%	-1.55%	-1.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-10.84%	-27.81%	0.00%	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	-526,673,097	-495,997,270	-506,639,554	-440,403,761	-324,969,468	-241,226,132	-155,388,443	-491,241,660	-546,638,090	-542,139,540	-472,861,870	-427,105,190	-446,513,220	-589,567,110	-448,312,640	-485,329,280	-616,686,940	-496,896,980	-651,647,100	-160,662,500	93,312,780	-323,767,070	-23,392,460	-147,231,115	-182,551,159	757,722,909	-297,881,128	546,676,649	-110,792,860	-62,067,137	-93,826,900	188,746,305	203,000,282	49,149,872	220,583,186	675,066,551	221,200,130
Other Financing Activities Margin	-36.57%	-35.63%	-36.62%	-31.72%	-22.29%	-16.64%	-7.34%	-32.50%	-38.64%	-38.57%	-33.65%	-34.77%	-36.77%	-45.80%	-29.08%	-27.41%	-49.04%	-21.52%	-49.88%	-15.65%	21.60%	-44.08%	-1.45%	-24.39%	-13.46%	123.39%	-54.10%	56.92%	-15.82%	-14.11%	-22.43%	25.22%	55.97%	10.85%	32.82%	71.37%	24.80%
Net Cash from Financing Activities	-104,152,143	37,325,112	-410,614,791	-116,191,120	-136,352,336	-114,878,058	-68,951,204	306,544,050	-72,747,980	-546,252,500	233,796,070	265,285,920	-494,326,380	-316,826,450	-1,113,326,860	-1,320,260,160	-1,048,033,620	-1,264,092,550	134,442,380	920,403,330	312,970,550	2,259,557,400	-447,798,520	-327,571,558	-444,868,036	43,391,728	192,666,470	-310,001,507	-58,326,914	-246,597,658	46,155,123	423,866,234	102,695,470	455,998,734	99,212,307	-54,419,602	199,928,415
Net Cash from Financing Activities Margin	-7.91%	2.90%	-28.09%	9.63%	3.58%	1.71%	6.77%	20.28%	-5.14%	-38.87%	16.64%	21.60%	-40.70%	-24.61%	-72.21%	-74.56%	-83.34%	-54.76%	10.29%	89.67%	72.45%	307.67%	-27.69%	-54.27%	-32.80%	7.07%	34.99%	-32.28%	-8.33%	-56.08%	11.04%	56.63%	28.32%	100.64%	14.76%	-5.75%	22.42%
Effect of FX on Cash	-18,551,163	-4,704,198	-45,589,591	-9,562,632	-7,010,026	-25,826,818	-70,785,755	-10,025,340	-6,812,090	-38,816,060	11,053,580	21,078,920	-7,840,330	-48,070,220	109,250,500	-240,993,750	-244,721,120	-102,438,410	143,310,950	57,067,320	116,191,120	98,325,450	0	0	3,238,956	0	0	0	0	0	-202,190,543	-303,279,388	-193,694,710	-144,249,219	-277,483,417	-311,441,043	-551,033,816
Effect of FX on Cash Margin	-1.30%	-0.28%	-3.18%	1.37%	1.04%	-2.72%	-9.64%	-0.66%	-0.48%	-2.76%	0.79%	1.72%	-0.65%	-3.73%	7.09%	-13.61%	-19.46%	-4.44%	10.97%	5.56%	26.90%	13.39%	0.00%	0.00%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	-48.34%	-40.52%	-53.41%	-31.84%	-41.28%	-32.93%	-61.79%
Net Change in Cash	72,662,293	230,968,410	-379,253,471	-9,768,280	49,338,811	28,566,050	41,783,389	571,958,500	71,719,740	-425,691,360	450,883,240	485,971,930	-896,496,750	-229,811,640	-1,682,200,640	-442,271,730	-1,696,596,000	142,668,300	904,465,610	1,384,139,570	65,164,710	1,149,572,320	285,336,600	-52,298,857	468,684,645	115,959,766	315,618,268	138,156,897	35,461,427	-254,952,108	-66,270,068	-125,021,131	-101,063,139	101,243,081	-68,287,989	144,776,192	462,682,294
Net Change in Cash Margin	4.21%	16.85%	-27.64%	7.03%	11.26%	6.17%	6.85%	37.84%	5.07%	-30.29%	32.09%	39.57%	-73.82%	-17.85%	-109.11%	-24.98%	-134.91%	6.18%	69.23%	134.85%	15.08%	156.53%	17.65%	-8.66%	34.55%	18.88%	57.32%	14.39%	5.06%	-57.98%	-15.85%	-16.70%	-27.87%	22.34%	-10.16%	15.31%	51.88%
Cash at Beginning of Period	702,544,980	556,509,194	1,692,187,421	2,200,339,345	1,872,527,221	1,583,612,989	1,415,213,840	804,854,860	733,135,120	569,644,960	204,491,230	470,419,800	1,118,468,060	1,348,279,700	3,030,480,340	3,472,752,070	5,169,348,070	5,026,679,770	4,122,214,160	2,738,074,590	2,672,909,880	1,523,337,560	1,238,000,960	1,290,261,258	821,576,613	705,616,847	389,998,579	251,841,682	216,380,255	471,332,363	537,602,431	662,623,562	763,686,701	662,443,620	730,731,609	585,955,417	123,273,123
Cash at Beginning of Period Margin	48.53%	39.69%	119.90%	188.35%	168.09%	149.73%	142.82%	53.25%	51.82%	40.53%	14.55%	38.30%	92.09%	104.74%	196.57%	196.12%	411.07%	217.74%	315.51%	266.75%	618.74%	207.42%	76.57%	213.75%	60.57%	114.90%	70.83%	26.22%	30.89%	107.18%	128.54%	88.53%	210.56%	146.20%	108.71%	61.95%	13.82%
Cash at End of Period	971,601,113	737,787,906	1,288,089,101	2,174,007,832	1,909,443,608	1,602,241,099	1,448,715,613	1,376,813,360	804,854,860	733,135,120	569,644,960	204,491,230	221,971,310	1,118,468,060	1,348,279,700	3,030,480,340	3,472,752,070	5,169,348,070	5,026,679,770	4,122,214,160	2,738,074,590	2,672,909,880	1,523,337,560	1,237,962,401	1,290,261,258	821,576,613	705,616,847	389,998,579	251,841,682	216,380,255	471,332,363	537,602,431	662,623,562	763,686,701	662,443,620	730,731,609	585,955,417
Cash at End of Period Margin	66.71%	51.46%	89.72%	193.69%	178.08%	154.88%	148.82%	91.09%	56.89%	52.16%	40.54%	16.65%	18.28%	86.89%	87.45%	171.14%	276.15%	223.92%	384.74%	401.60%	633.83%	363.95%	94.21%	205.09%	95.12%	133.79%	128.16%	40.61%	35.96%	49.21%	112.70%	71.83%	182.70%	168.55%	98.55%	77.26%	65.70%
Operating Cash Flow	528,515,360	428,210,548	646,814,372	703,161,924	692,045,364	579,465,166	541,041,037	670,283,950	516,947,660	398,314,470	224,027,790	331,478,870	732,363,940	784,547,120	1,135,819,610	903,308,840	771,051,470	1,986,302,620	664,757,160	661,929,500	135,856,210	630,439,650	1,186,203,370	443,659,854	1,026,581,963	378,443,732	258,589,507	676,054,947	91,924,656	-6,246,558	62,774,052	-178,785,230	219,503,534	-75,202,903	252,702,833	532,782,556	814,815,935
Operating Cash Flow Margin	36.41%	30.43%	45.94%	51.87%	55.46%	47.30%	47.06%	44.35%	36.54%	28.34%	15.94%	26.99%	60.30%	60.95%	73.67%	51.01%	61.31%	86.04%	50.88%	64.49%	31.45%	85.84%	73.36%	73.50%	75.68%	61.63%	46.97%	70.39%	13.12%	-1.42%	15.01%	-23.89%	60.52%	-16.60%	37.59%	56.33%	91.36%
Capital Expenditure	-129,129,807	-231,791,002	-610,106,204	-696,743,993	-597,991,609	-497,021,911	-439,110,320	-22,878,340	-14,780,950	-349,730,130	-369,909,340	-401,656,250	-1,582,975,480	-1,672,689,420	-546,381,030	-344,717,460	-795,343,640	-681,851,650	-1,271,932,880	-688,920,800	-894,568,800	-812,823,720	-473,761,580	-291,403,216	-186,162,852	-369,395,220	-187,949,419	-170,546,457	-59,445,125	-22,094,307	-55,704,902	-157,924,811	-205,622,294	-112,013,895	-196,252,457	-53,417,068	-180,456,120
Capital Expenditure Margin	-9.15%	-17.29%	-46.49%	-65.11%	-58.11%	-49.12%	-45.48%	-1.51%	-1.04%	-24.88%	-26.32%	-32.70%	-130.34%	-129.95%	-35.44%	-19.47%	-63.25%	-29.54%	-97.35%	-67.12%	-207.08%	-110.68%	-29.30%	-48.28%	-13.72%	-60.15%	-34.14%	-17.76%	-8.49%	-5.02%	-13.32%	-21.10%	-56.69%	-24.72%	-29.20%	-5.65%	-20.23%
Free Cash Flow	399,385,553	196,419,546	36,708,168	6,417,931	94,053,755	82,443,255	101,930,717	647,405,610	502,166,710	48,584,340	-145,881,550	-70,177,380	-850,611,540	-888,142,300	589,438,580	558,591,380	-24,292,170	1,304,450,970	-607,175,720	-26,991,300	-758,712,590	-182,384,070	712,441,790	152,256,638	840,419,111	9,048,512	70,640,088	505,508,490	32,479,531	-28,340,865	7,069,150	-336,710,041	13,881,240	-187,216,798	56,450,376	479,365,488	634,359,815
Free Cash Flow Margin	27.26%	13.14%	-0.55%	-13.24%	-2.65%	-1.82%	1.57%	42.83%	35.49%	3.46%	-10.38%	-5.71%	-70.04%	-69.00%	38.23%	31.55%	-1.93%	56.51%	-46.47%	-2.63%	-175.63%	-24.83%	44.06%	25.22%	61.96%	1.47%	12.83%	52.64%	4.64%	-6.44%	1.69%	-44.99%	3.83%	-41.32%	8.40%	50.68%	71.13%

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	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	1,443,948,863	1,393,059,552	1,403,701,836	1,322,993,565	1,229,325,185	1,114,150,994	1,039,315,430	1,511,512,800	1,414,858,240	1,405,475,550	1,405,218,490	1,228,232,680	1,214,479,970	1,287,227,950	1,541,717,350	1,770,757,810	1,257,537,520	2,308,527,330	1,306,507,450	1,026,440,580	431,989,330	734,420,420	1,616,907,400	603,628,292	1,356,389,943	614,090,634	550,583,961	960,401,866	700,398,529	439,752,542	418,236,620	748,481,602	362,685,954	453,093,956	672,199,047	945,852,270	891,856,817
EBITDA	835,273,627	852,410,960	899,838,530	951,970,298	940,689,220	806,420,870	764,695,662	670,283,950	925,287,470	910,249,460	933,770,450	822,463,470	796,243,350	695,090,240	1,062,814,570	1,227,847,090	954,335,250	1,780,011,970	975,285,640	811,409,890	665,785,400	1,048,676,270	1,143,017,290	434,688,460	2,313,231,528	338,470,902	304,821,748	437,631,797	282,598,911	188,489,245	210,583,552	227,433,835	270,452,826	-12,853	672,199,047	945,852,270	891,856,817
EBITDA Margin	58.17%	61.58%	64.16%	77.96%	79.65%	72.10%	72.57%	44.35%	65.40%	64.76%	66.45%	66.96%	65.56%	54.00%	68.94%	69.34%	75.89%	77.11%	74.65%	79.05%	154.12%	142.79%	70.69%	72.01%	170.54%	55.12%	55.36%	45.57%	40.35%	42.86%	50.35%	30.39%	74.57%	0.00%	100.00%	100.00%	100.00%
(-) Tax Adjustment	226,613,770	416,660,302	293,337,278	247,706,073	227,848,818	191,661,409	171,041,470	223,217,797	233,503,485	223,120,027	281,028,991	1,122,431,207	241,759,080	88,940,252	142,595,520	215,756,347	161,020,073	279,069,673	150,895,794	98,941,926	106,761,275	146,549,655	240,191,445	97,753,776	396,679,130	49,732,237	57,028,673	82,682,736	67,687,963	24,921,632	18,695,752	40,570,776	35,027,352	-860	97,907,918	94,637,441	112,137,023
(-) Tax Adjustment Margin	15.72%	31.71%	21.96%	19.84%	18.81%	16.40%	15.23%	14.77%	16.50%	15.88%	20.00%	91.39%	19.91%	6.91%	9.25%	12.18%	12.80%	12.09%	11.55%	9.64%	24.71%	19.95%	14.85%	16.19%	29.25%	8.10%	10.36%	8.61%	9.66%	5.67%	4.47%	5.42%	9.66%	0.00%	14.57%	10.01%	12.57%
(-) Change In Working Capital	-136,027,583	-184,646,198	-58,853,887	-10,873,638	3,799,347	3,039,477	2,532,898	-1,156,770	-243,692,880	-163,233,100	-355,771,040	-159,377,200	-18,636,850	45,628,150	350,372,780	-164,389,870	121,717,910	310,142,890	-84,187,150	48,327,280	-24,420,700	175,571,980	182,255,540	56,835,966	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Change In Working Capital Margin	-9.64%	-13.44%	-4.21%	-0.81%	0.43%	0.34%	0.29%	-0.08%	-17.22%	-11.61%	-25.32%	-12.98%	-1.53%	3.54%	22.73%	-9.28%	9.68%	13.43%	-6.44%	4.71%	-5.65%	23.91%	11.27%	9.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
(-) Capital Expenditure	-129,129,807	-231,791,002	-610,106,204	-696,743,993	-597,991,609	-497,021,911	-439,110,320	-22,878,340	-14,780,950	-349,730,130	-369,909,340	-401,656,250	-1,582,975,480	-1,672,689,420	-546,381,030	-344,717,460	-795,343,640	-681,851,650	-1,271,932,880	-688,920,800	-894,568,800	-812,823,720	-473,761,580	-291,403,216	-186,162,852	-369,395,220	-187,949,419	-170,546,457	-59,445,125	-22,094,307	-55,704,902	-157,924,811	-205,622,294	-112,013,895	-196,252,457	-53,417,068	-180,456,120
(-) Capital Expenditure Margin	-9.15%	-17.29%	-46.49%	-65.11%	-58.11%	-49.12%	-45.48%	-1.51%	-1.04%	-24.88%	-26.32%	-32.70%	-130.34%	-129.95%	-35.44%	-19.47%	-63.25%	-29.54%	-97.35%	-67.12%	-207.08%	-110.68%	-29.30%	-48.28%	-13.72%	-60.15%	-34.14%	-17.76%	-8.49%	-5.02%	-13.32%	-21.10%	-56.69%	-24.72%	-29.20%	-5.65%	-20.23%
Unlevered Free Cash Flow	615,557,634	388,605,854	55,248,935	18,393,870	111,049,446	114,698,072	152,010,973	425,344,583	920,695,915	500,632,403	638,603,159	-542,246,787	-1,009,854,360	-1,112,167,582	23,465,240	831,763,153	-123,746,373	508,947,757	-363,355,884	-24,780,116	-311,123,975	-86,269,085	246,808,725	-11,304,498	1,730,389,546	-80,656,555	59,843,656	184,402,604	155,465,823	141,473,306	136,182,898	28,938,248	29,803,180	-112,025,888	378,038,672	797,797,761	599,263,674
Unlevered Free Cash Flow Margin	42.94%	26.03%	-0.08%	-6.18%	2.30%	6.24%	11.58%	28.14%	65.07%	35.62%	45.45%	-44.15%	-83.15%	-86.40%	1.52%	46.97%	-9.84%	22.05%	-27.81%	-2.41%	-72.02%	-11.75%	15.26%	-1.87%	127.57%	-13.13%	10.87%	19.20%	22.20%	32.17%	32.56%	3.87%	8.22%	-24.72%	56.24%	84.35%	67.19%
(-) Net Interest Income After Taxes	-51,309,308	-37,695,247	-56,891,900	-36,619,630	-33,116,191	-35,773,613	-52,292,333	-67,381,399	-50,065,211	-36,481,314	-31,266,900	-3,281,410	9,487,544	-87,985,899	-82,351,203	-122,472,197	-97,121,010	-32,730,491	7,061,853	39,725,760	20,936,425	-15,368,991	-12,182,514	-17,135,649	-32,649,629	-51,061,592	0	0	-93,580,635	-62,214,807	-76,221,057	0	-54,968,413	-92,786,949	-276,960,761	-153,412,995	-96,300,547
(-) Net Interest Income After Taxes Margin	-3.53%	-2.62%	-3.91%	-2.22%	-2.38%	-3.74%	-6.58%	-4.46%	-3.54%	-2.60%	-2.23%	-0.27%	0.78%	-6.84%	-5.34%	-6.92%	-7.72%	-1.42%	0.54%	3.87%	4.85%	-2.09%	-0.75%	-2.84%	-2.41%	-8.31%	0.00%	0.00%	-13.36%	-14.15%	-18.22%	0.00%	-15.16%	-20.48%	-41.20%	-16.22%	-10.80%
Net Debt Issuance	573,029,583	690,823,044	243,063,083	411,587,335	325,945,011	263,530,714	228,132,181	948,294,340	624,398,740	146,395,670	853,696,260	881,330,210	92,156,010	412,709,830	-525,045,050	-713,084,440	-290,220,740	-634,038,490	922,845,400	1,302,523,020	853,182,140	1,298,667,120	-85,472,450	108,247,966	59,008,123	-427,233,720	690,540,278	-631,493,596	193,771,828	47,543,247	69,200,552	390,345,610	17,929,935	439,289,834	114,545,936	-493,542,347	177,474,224
Net Debt Issuance Margin	39.10%	49.96%	19.20%	49.10%	40.46%	34.03%	31.25%	62.74%	44.13%	10.42%	60.75%	71.76%	7.59%	32.06%	-34.06%	-40.27%	-23.08%	-27.47%	70.63%	126.90%	197.50%	176.83%	-5.29%	17.93%	4.35%	-69.57%	125.42%	-65.75%	27.67%	10.81%	16.55%	52.15%	4.94%	96.95%	17.04%	-52.18%	19.90%
Levered Free Cash Flow	1,239,896,525	1,117,124,145	355,203,918	466,600,834	470,110,648	414,002,400	432,435,488	1,441,020,322	1,595,159,866	683,509,388	1,523,566,319	342,364,832	-927,185,893	-611,471,853	-419,228,607	241,150,910	-316,846,103	-92,360,242	552,427,663	1,238,017,144	521,121,740	1,227,767,026	173,518,789	114,079,117	1,822,047,298	-456,828,683	750,383,934	-447,090,992	442,818,285	251,231,361	281,604,508	419,283,858	102,701,528	420,050,895	769,545,370	457,668,409	873,038,445
Levered Free Cash Flow Margin	85.57%	78.60%	23.04%	45.14%	45.15%	44.00%	49.40%	95.34%	112.74%	48.63%	108.42%	27.87%	-76.34%	-47.50%	-27.19%	13.62%	-25.20%	-4.00%	42.28%	120.61%	120.63%	167.17%	10.73%	18.90%	134.33%	-74.39%	136.29%	-46.55%	63.22%	57.13%	67.33%	56.02%	28.32%	92.71%	114.48%	48.39%	97.89%