Norfolk Southern Corporation (0K8M.L)

Analysis: Margins & Ratios Industry: General Transportation Sector: Industrials Live Price: $291.58

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,341,333,333	11,591,000,000	11,165,900,000	11,083,733,333	10,612,600,000	9,785,240,000	8,923,600,000	12,230,000,000	12,172,000,000	12,123,000,000	12,156,000,000	12,745,000,000	11,142,000,000	9,789,000,000	11,296,000,000	11,458,000,000	10,551,000,000	9,888,000,000	10,511,000,000	11,624,000,000	11,245,000,000	11,040,000,000	11,172,000,000	9,516,000,000	7,969,000,000	10,661,000,000	9,432,000,000	9,407,000,000	8,527,000,000	7,312,000,000	6,468,000,000	6,270,000,000	6,170,000,000	6,159,000,000	5,195,000,000	4,221,000,000	4,223,000,000	4,770,000,000	4,668,000,000	4,581,300,000	4,460,100,000	4,606,600,000	4,451,300,000	4,617,000,000	4,536,000,000
Cost of Revenue	8,573,000,000	7,777,600,000	7,526,900,000	7,603,466,667	7,363,800,000	6,507,440,000	5,580,023,333	8,066,000,000	8,706,000,000	8,359,000,000	9,348,000,000	8,012,000,000	6,777,000,000	6,392,000,000	7,403,000,000	7,499,000,000	7,029,000,000	6,818,000,000	7,632,000,000	8,054,000,000	7,994,000,000	7,922,000,000	7,966,000,000	6,847,000,000	6,007,000,000	7,577,000,000	6,858,000,000	6,850,000,000	5,932,000,000	5,239,000,000	2,826,000,000	2,382,000,000	2,420,000,000	2,543,000,000	1,931,000,000	269,000,000	350,000,000	1,108,200,000	1,056,500,000	1,099,900,000	1,684,600,000	1,823,300,000	3,588,700,000	3,024,100,000	2,956,500,000
Cost of Revenue Margin	69.57%	66.97%	67.40%	68.63%	69.55%	64.99%	57.42%	65.95%	71.52%	68.95%	76.90%	62.86%	60.82%	65.30%	65.54%	65.45%	66.62%	68.95%	72.61%	69.29%	71.09%	71.76%	71.30%	71.95%	75.38%	71.07%	72.71%	72.82%	69.57%	71.65%	43.69%	37.99%	39.22%	41.29%	37.17%	6.37%	8.29%	23.23%	22.63%	24.01%	37.77%	39.58%	80.62%	65.50%	65.18%
Gross Profit	3,768,333,333	3,813,400,000	3,639,000,000	3,480,266,667	3,248,800,000	3,277,800,000	3,343,576,667	4,164,000,000	3,466,000,000	3,764,000,000	2,808,000,000	4,733,000,000	4,365,000,000	3,397,000,000	3,893,000,000	3,959,000,000	3,522,000,000	3,070,000,000	2,879,000,000	3,570,000,000	3,251,000,000	3,118,000,000	3,206,000,000	2,669,000,000	1,962,000,000	3,084,000,000	2,574,000,000	2,557,000,000	2,595,000,000	2,073,000,000	3,642,000,000	3,888,000,000	3,750,000,000	3,616,000,000	3,264,000,000	3,952,000,000	3,873,000,000	3,661,800,000	3,611,500,000	3,481,400,000	2,775,500,000	2,783,300,000	862,600,000	1,592,900,000	1,579,500,000
Gross Profit Margin	30.43%	33.03%	32.60%	31.37%	30.45%	35.01%	42.58%	34.05%	28.48%	31.05%	23.10%	37.14%	39.18%	34.70%	34.46%	34.55%	33.38%	31.05%	27.39%	30.71%	28.91%	28.24%	28.70%	28.05%	24.62%	28.93%	27.29%	27.18%	30.43%	28.35%	56.31%	62.01%	60.78%	58.71%	62.83%	93.63%	91.71%	76.77%	77.37%	75.99%	62.23%	60.42%	19.38%	34.50%	34.82%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	-40,000,000	-24,000,000	-12,000,000	-8,000,000	-6,000,000	404,720,000	631,676,667	0	0	-120,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,056,000,000	2,364,000,000	2,300,000,000	2,518,000,000	2,131,000,000	1,682,000,000	1,651,000,000	1,645,500,000	1,722,800,000	1,641,300,000	1,509,600,000	1,500,200,000	369,300,000	411,800,000	407,300,000
SG&A Expenses Margin	-0.33%	-0.20%	-0.10%	-0.07%	-0.05%	6.48%	11.78%	0.00%	0.00%	-0.99%	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%	0.00%	0.00%	0.00%	0.00%	47.25%	37.70%	37.28%	40.88%	41.02%	39.85%	39.10%	34.50%	36.91%	35.83%	33.85%	32.57%	8.30%	8.92%	8.98%
Operating Expenses	0	0	0	0	21,850,000	554,800,000	958,063,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	437,000,000	371,000,000	3,694,000,000	3,072,000,000	3,029,000,000	3,267,000,000	2,822,000,000	3,090,000,000	2,829,000,000	3,059,500,000	3,071,400,000	3,009,900,000	1,915,100,000	1,896,800,000	750,600,000	784,800,000	754,300,000
Operating Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.26%	8.74%	18.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.12%	5.07%	57.11%	49.00%	49.09%	53.04%	54.32%	73.21%	66.99%	64.14%	65.80%	65.70%	42.94%	41.18%	16.86%	17.00%	16.63%
Operating Income (EBIT)	3,768,333,333	3,813,400,000	3,639,000,000	3,480,266,667	3,226,950,000	2,804,120,000	2,512,310,000	4,164,000,000	3,466,000,000	3,764,000,000	2,808,000,000	4,733,000,000	4,365,000,000	3,397,000,000	3,893,000,000	3,959,000,000	3,522,000,000	3,070,000,000	2,879,000,000	3,570,000,000	3,251,000,000	3,118,000,000	3,206,000,000	2,669,000,000	1,962,000,000	3,084,000,000	2,574,000,000	2,557,000,000	2,158,000,000	1,702,000,000	1,064,000,000	1,158,000,000	1,007,000,000	633,000,000	718,000,000	1,052,000,000	1,213,000,000	1,197,000,000	1,086,300,000	1,065,400,000	860,400,000	886,500,000	112,000,000	808,100,000	825,200,000
Operating Income (EBIT) Margin	30.43%	33.03%	32.60%	31.37%	30.20%	27.55%	26.82%	34.05%	28.48%	31.05%	23.10%	37.14%	39.18%	34.70%	34.46%	34.55%	33.38%	31.05%	27.39%	30.71%	28.91%	28.24%	28.70%	28.05%	24.62%	28.93%	27.29%	27.18%	25.31%	23.28%	16.45%	18.47%	16.32%	10.28%	13.82%	24.92%	28.72%	25.09%	23.27%	23.26%	19.29%	19.24%	2.52%	17.50%	18.19%
Interest Income	0	0	1,800,000	4,266,667	5,450,000	4,360,000	3,633,333	0	0	0	0	0	0	0	0	0	0	10,000,000	8,000,000	9,000,000	8,000,000	8,000,000	9,000,000	12,000,000	0	0	45,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.00%	0.00%	0.02%	0.04%	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%	0.10%	0.08%	0.08%	0.07%	0.07%	0.08%	0.13%	0.00%	0.00%	0.48%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	740,333,333	698,400,000	631,700,000	588,800,000	534,050,000	427,240,000	356,033,333	796,000,000	803,000,000	807,000,000	722,000,000	692,000,000	646,000,000	625,000,000	604,000,000	557,000,000	550,000,000	569,000,000	545,000,000	557,000,000	537,000,000	504,000,000	455,000,000	462,000,000	467,000,000	444,000,000	441,000,000	0	497,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	6.01%	6.04%	5.66%	5.31%	5.01%	4.01%	3.34%	6.51%	6.60%	6.66%	5.94%	5.43%	5.80%	6.38%	5.35%	4.86%	5.21%	5.75%	5.19%	4.79%	4.78%	4.57%	4.07%	4.85%	5.86%	4.16%	4.68%	0.00%	5.83%	0.00%	0.00%	0.00%	0.00%	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	-740,333,333	-698,400,000	-630,300,000	-586,066,667	-504,900,000	-403,920,000	-336,600,000	-796,000,000	-803,000,000	-807,000,000	-722,000,000	-692,000,000	-646,000,000	-625,000,000	-604,000,000	-557,000,000	-550,000,000	-559,000,000	-541,000,000	-548,000,000	-529,000,000	-496,000,000	-449,000,000	-466,000,000	-467,000,000	-444,000,000	-396,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-6.01%	-6.04%	-5.64%	-5.28%	-4.67%	-3.74%	-3.12%	-6.51%	-6.60%	-6.66%	-5.94%	-5.43%	-5.80%	-6.38%	-5.35%	-4.86%	-5.21%	-5.65%	-5.15%	-4.71%	-4.70%	-4.49%	-4.02%	-4.90%	-5.86%	-4.16%	-4.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	1,249,000,000	1,274,400,000	1,139,000,000	1,035,400,000	956,700,000	852,040,000	735,390,000	1,132,000,000	1,217,000,000	1,242,000,000	1,210,000,000	1,295,000,000	1,133,000,000	1,492,000,000	1,006,000,000	1,047,000,000	944,000,000	1,047,000,000	974,000,000	984,000,000	815,000,000	856,000,000	734,000,000	752,000,000	807,000,000	778,000,000	733,000,000	327,000,000	958,000,000	400,000,000	478,000,000	452,000,000	454,000,000	383,000,000	367,000,000	207,000,000	215,000,000	100,000	-28,400,000	16,400,000	-38,200,000	11,200,000	-31,600,000	-67,300,000	-107,500,000
Unusual Items Margin	10.12%	11.15%	10.26%	9.37%	9.02%	8.56%	7.69%	9.26%	10.00%	10.24%	9.95%	10.16%	10.17%	15.24%	8.91%	9.14%	8.95%	10.59%	9.27%	8.47%	7.25%	7.75%	6.57%	7.90%	10.13%	7.30%	7.77%	3.48%	11.23%	5.47%	7.39%	7.21%	7.36%	6.22%	7.06%	4.90%	5.09%	0.00%	-0.61%	0.36%	-0.86%	0.24%	-0.71%	-1.46%	-2.37%
EBT Excluding Unusual Items	2,010,666,667	1,963,000,000	1,990,900,000	1,994,000,000	1,842,150,000	1,522,920,000	1,393,930,000	2,696,000,000	1,835,000,000	2,087,000,000	1,110,000,000	2,835,000,000	2,745,000,000	1,038,000,000	2,485,000,000	2,422,000,000	2,184,000,000	1,535,000,000	1,468,000,000	2,150,000,000	2,150,000,000	1,902,000,000	2,184,000,000	1,615,000,000	815,000,000	1,972,000,000	1,504,000,000	1,903,000,000	739,000,000	902,000,000	108,000,000	254,000,000	99,000,000	-133,000,000	-16,000,000	638,000,000	783,000,000	1,196,800,000	1,143,100,000	1,032,600,000	936,800,000	864,100,000	175,200,000	942,700,000	1,040,200,000
EBT Excluding Unusual Items Margin	16.20%	16.77%	17.72%	17.90%	17.10%	14.38%	14.75%	22.04%	15.08%	17.22%	9.13%	22.24%	24.64%	10.60%	22.00%	21.14%	20.70%	15.52%	13.97%	18.50%	19.12%	17.23%	19.55%	16.97%	10.23%	18.50%	15.95%	20.23%	8.67%	12.34%	1.67%	4.05%	1.60%	-2.16%	-0.31%	15.11%	18.54%	25.09%	24.49%	22.54%	21.00%	18.76%	3.94%	20.42%	22.93%
Pre-Tax Income	3,259,666,667	3,237,400,000	3,129,900,000	3,029,400,000	2,798,850,000	2,374,960,000	2,129,320,000	3,828,000,000	3,052,000,000	3,329,000,000	2,320,000,000	4,130,000,000	3,878,000,000	2,530,000,000	3,491,000,000	3,469,000,000	3,128,000,000	2,582,000,000	2,442,000,000	3,134,000,000	2,965,000,000	2,758,000,000	2,918,000,000	2,367,000,000	1,622,000,000	2,750,000,000	2,237,000,000	2,230,000,000	1,697,000,000	1,302,000,000	586,000,000	706,000,000	553,000,000	250,000,000	351,000,000	845,000,000	998,000,000	1,196,900,000	1,114,700,000	1,049,000,000	898,600,000	875,300,000	143,600,000	875,400,000	932,700,000
Pre-Tax Income Margin	26.32%	27.92%	27.98%	27.27%	26.13%	22.95%	22.44%	31.30%	25.07%	27.46%	19.09%	32.40%	34.81%	25.85%	30.90%	30.28%	29.65%	26.11%	23.23%	26.96%	26.37%	24.98%	26.12%	24.87%	20.35%	25.79%	23.72%	23.71%	19.90%	17.81%	9.06%	11.26%	8.96%	4.06%	6.76%	20.02%	23.63%	25.09%	23.88%	22.90%	20.15%	19.00%	3.23%	18.96%	20.56%
Income Tax Expense	686,666,667	690,000,000	454,600,000	641,133,333	658,850,000	569,840,000	523,350,000	866,000,000	636,000,000	707,000,000	493,000,000	860,000,000	873,000,000	517,000,000	769,000,000	803,000,000	-2,276,000,000	914,000,000	886,000,000	1,134,000,000	1,055,000,000	1,009,000,000	1,002,000,000	871,000,000	588,000,000	1,034,000,000	773,000,000	749,000,000	416,000,000	379,000,000	175,000,000	246,000,000	191,000,000	78,000,000	112,000,000	215,000,000	299,000,000	426,500,000	402,000,000	381,200,000	349,900,000	317,600,000	113,900,000	319,300,000	326,500,000
Income Tax Expense Margin	5.55%	5.95%	3.97%	5.74%	6.21%	5.61%	5.74%	7.08%	5.23%	5.83%	4.06%	6.75%	7.84%	5.28%	6.81%	7.01%	-21.57%	9.24%	8.43%	9.76%	9.38%	9.14%	8.97%	9.15%	7.38%	9.70%	8.20%	7.96%	4.88%	5.18%	2.71%	3.92%	3.10%	1.27%	2.16%	5.09%	7.08%	8.94%	8.61%	8.32%	7.85%	6.89%	2.56%	6.92%	7.20%
Net Income	2,573,000,000	2,547,400,000	2,675,300,000	2,388,266,667	2,140,000,000	1,810,600,000	1,614,736,667	2,962,000,000	2,416,000,000	2,622,000,000	1,827,000,000	3,270,000,000	3,005,000,000	2,013,000,000	2,722,000,000	2,666,000,000	5,404,000,000	1,668,000,000	1,556,000,000	2,000,000,000	1,910,000,000	1,749,000,000	1,916,000,000	1,496,000,000	1,034,000,000	1,716,000,000	1,464,000,000	1,481,000,000	1,281,000,000	923,000,000	535,000,000	460,000,000	375,000,000	172,000,000	239,000,000	734,000,000	721,000,000	770,400,000	712,700,000	667,800,000	772,000,000	557,700,000	29,700,000	556,100,000	606,200,000
Net Income Margin	20.77%	21.97%	24.01%	21.53%	19.92%	17.42%	16.87%	24.22%	19.85%	21.63%	15.03%	25.66%	26.97%	20.56%	24.10%	23.27%	51.22%	16.87%	14.80%	17.21%	16.99%	15.84%	17.15%	15.72%	12.98%	16.10%	15.52%	15.74%	15.02%	12.62%	8.27%	7.34%	6.08%	2.79%	4.60%	17.39%	17.07%	16.15%	15.27%	14.58%	17.31%	12.11%	0.67%	12.04%	13.36%
Depreciation and Amortization	1,290,666,667	1,241,400,000	1,162,200,000	1,074,466,667	1,005,000,000	912,400,000	834,123,333	1,382,000,000	1,341,000,000	1,353,000,000	1,298,000,000	1,221,000,000	1,181,000,000	1,154,000,000	1,138,000,000	1,102,000,000	1,055,000,000	1,061,000,000	1,059,000,000	956,000,000	922,000,000	922,000,000	869,000,000	826,000,000	845,000,000	815,000,000	786,000,000	750,000,000	787,000,000	609,000,000	528,000,000	529,000,000	527,000,000	517,000,000	489,000,000	450,000,000	432,000,000	429,200,000	413,500,000	403,800,000	-405,500,000	-396,600,000	-381,300,000	-373,000,000	-347,000,000
Depreciation and Amortization Margin	10.47%	10.76%	10.43%	9.70%	9.47%	9.25%	9.31%	11.30%	11.02%	11.16%	10.68%	9.58%	10.60%	11.79%	10.07%	9.62%	10.00%	10.73%	10.08%	8.22%	8.20%	8.35%	7.78%	8.68%	10.60%	7.64%	8.33%	7.97%	9.23%	8.33%	8.16%	8.44%	8.54%	8.39%	9.41%	10.66%	10.23%	9.00%	8.86%	8.81%	-9.09%	-8.61%	-8.57%	-8.08%	-7.65%
EBITDA	5,290,666,667	5,177,200,000	4,928,200,000	4,696,066,667	4,366,850,000	3,729,920,000	3,340,310,000	6,006,000,000	5,196,000,000	5,489,000,000	4,340,000,000	6,043,000,000	5,705,000,000	4,309,000,000	5,233,000,000	5,128,000,000	4,733,000,000	4,212,000,000	4,090,000,000	4,647,000,000	4,424,000,000	4,175,000,000	4,242,000,000	3,671,000,000	2,939,000,000	4,009,000,000	3,491,000,000	3,473,000,000	2,984,000,000	2,417,000,000	1,064,000,000	1,158,000,000	406,000,000	866,000,000	931,000,000	1,312,000,000	1,722,000,000	1,552,800,000	1,443,500,000	1,431,200,000	1,129,100,000	1,185,300,000	362,000,000	1,035,800,000	1,014,000,000
EBITDA Margin	42.80%	44.72%	44.11%	42.32%	40.91%	36.27%	35.33%	49.11%	42.69%	45.28%	35.70%	47.41%	51.20%	44.02%	46.33%	44.75%	44.86%	42.60%	38.91%	39.98%	39.34%	37.82%	37.97%	38.58%	36.88%	37.60%	37.01%	36.92%	34.99%	33.06%	16.45%	18.47%	6.58%	14.06%	17.92%	31.08%	40.78%	32.55%	30.92%	31.24%	25.32%	25.73%	8.13%	22.43%	22.35%
NOPAT	2,974,450,746	3,001,710,232	3,098,895,866	2,742,047,020	2,465,878,761	2,124,783,731	1,890,247,060	3,221,987,461	2,743,727,392	2,964,616,401	2,211,300,000	3,747,435,835	3,382,368,489	2,702,830,435	3,035,447,150	3,042,575,382	6,084,682,864	1,983,253,292	1,834,448,812	2,278,238,673	2,094,236,088	1,977,295,867	2,105,104,866	1,686,871,145	1,250,744,760	1,924,416,000	1,684,548,949	1,698,169,058	1,628,991,161	1,206,563,748	746,252,560	754,504,249	659,193,490	435,504,000	488,894,587	784,331,361	849,586,172	770,464,366	694,542,038	678,240,343	525,374,449	564,836,113	23,164,345	513,347,510	536,331,339
NOPAT Margin	24.02%	26.00%	27.86%	24.75%	23.00%	20.72%	19.90%	26.34%	22.54%	24.45%	18.19%	29.40%	30.36%	27.61%	26.87%	26.55%	57.67%	20.06%	17.45%	19.60%	18.62%	17.91%	18.84%	17.73%	15.70%	18.05%	17.86%	18.05%	19.10%	16.50%	11.54%	12.03%	10.68%	7.07%	9.41%	18.58%	20.12%	16.15%	14.88%	14.80%	11.78%	12.26%	0.52%	11.12%	11.82%
Owner's Earnings	1,637,666,667	1,860,400,000	1,874,400,000	1,490,000,000	1,345,400,000	1,126,240,000	981,890,000	2,194,000,000	-445,000,000	1,594,000,000	776,000,000	2,543,000,000	2,716,000,000	1,673,000,000	1,842,000,000	1,819,000,000	4,740,000,000	811,000,000	230,000,000	838,000,000	861,000,000	430,000,000	625,000,000	852,000,000	580,000,000	973,000,000	909,000,000	1,053,000,000	1,043,000,000	491,000,000	343,000,000	300,000,000	156,000,000	-42,000,000	-184,000,000	228,000,000	278,000,000	511,400,000	467,300,000	358,700,000	-302,700,000	-555,000,000	-1,011,000,000	-486,600,000	-392,400,000
Owner's Earnings Margin	13.16%	16.19%	16.84%	13.45%	12.56%	10.79%	9.97%	17.94%	-3.66%	13.15%	6.38%	19.95%	24.38%	17.09%	16.31%	15.88%	44.92%	8.20%	2.19%	7.21%	7.66%	3.89%	5.59%	8.95%	7.28%	9.13%	9.64%	11.19%	12.23%	6.71%	5.30%	4.78%	2.53%	-0.68%	-3.54%	5.40%	6.58%	10.72%	10.01%	7.83%	-6.79%	-12.05%	-22.71%	-10.54%	-8.65%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,341,333,333	11,591,000,000	11,165,900,000	11,083,733,333	10,612,600,000	9,785,240,000	8,923,600,000	12,123,000,000	12,156,000,000	12,745,000,000	11,142,000,000	9,789,000,000	11,296,000,000	11,458,000,000	10,551,000,000	9,888,000,000	10,511,000,000	11,624,000,000	11,245,000,000	11,040,000,000	11,172,000,000	9,516,000,000	7,969,000,000	10,661,000,000	9,432,000,000	9,407,000,000	8,527,000,000	7,312,000,000	6,468,000,000	6,270,000,000	6,170,000,000	6,159,000,000	5,195,000,000	4,221,000,000	4,223,000,000	4,770,000,000	4,668,000,000	4,581,300,000	4,460,100,000	4,606,600,000	4,451,300,000	4,617,000,000	4,536,000,000
Cash & Cash Equivalents	1,221,666,667	1,123,800,000	930,400,000	898,400,000	805,600,000	694,520,000	590,530,000	1,641,000,000	1,568,000,000	456,000,000	839,000,000	1,115,000,000	580,000,000	358,000,000	690,000,000	956,000,000	1,101,000,000	973,000,000	1,443,000,000	653,000,000	276,000,000	827,000,000	996,000,000	618,000,000	206,000,000	527,000,000	289,000,000	579,000,000	284,000,000	184,000,000	204,000,000	0	37,000,000	5,000,000	34,000,000	209,200,000	67,700,000	57,000,000	80,500,000	111,800,000	158,200,000	389,700,000	216,300,000
Cash & Cash Equivalents Margin	10.00%	9.79%	8.39%	8.14%	7.58%	6.81%	5.92%	13.54%	12.90%	3.58%	7.53%	11.39%	5.13%	3.12%	6.54%	9.67%	10.47%	8.37%	12.83%	5.91%	2.47%	8.69%	12.50%	5.80%	2.18%	5.60%	3.39%	7.92%	4.39%	2.93%	3.31%	0.00%	0.71%	0.12%	0.81%	4.39%	1.45%	1.24%	1.80%	2.43%	3.55%	8.44%	4.77%
Short-Term Investments	0	0	0	29,400,000	94,500,000	79,280,000	87,816,667	0	0	0	0	0	0	0	0	0	0	0	118,000,000	15,000,000	25,000,000	283,000,000	90,000,000	0	0	391,000,000	968,000,000	90,000,000	0	0	0	2,000,000	14,000,000	58,000,000	125,000,000	194,200,000	261,300,000	249,700,000	0	0	0	0	0
Short-Term Investments Margin	0.00%	0.00%	0.00%	0.29%	1.05%	0.89%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.05%	0.14%	0.22%	2.97%	1.13%	0.00%	0.00%	4.16%	11.35%	1.23%	0.00%	0.00%	0.00%	0.03%	0.27%	1.37%	2.96%	4.07%	5.60%	5.45%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	1,221,666,667	1,123,800,000	930,400,000	927,800,000	900,100,000	773,800,000	678,346,667	1,641,000,000	1,568,000,000	456,000,000	839,000,000	1,115,000,000	580,000,000	358,000,000	690,000,000	956,000,000	1,101,000,000	973,000,000	1,561,000,000	668,000,000	301,000,000	1,110,000,000	1,086,000,000	618,000,000	206,000,000	918,000,000	1,257,000,000	669,000,000	284,000,000	184,000,000	204,000,000	2,000,000	51,000,000	63,000,000	159,000,000	403,400,000	329,000,000	306,700,000	80,500,000	111,800,000	158,200,000	389,700,000	216,300,000
Cash & Short-Term Investments Margin	10.00%	9.79%	8.39%	8.44%	8.63%	7.70%	7.14%	13.54%	12.90%	3.58%	7.53%	11.39%	5.13%	3.12%	6.54%	9.67%	10.47%	8.37%	13.88%	6.05%	2.69%	11.66%	13.63%	5.80%	2.18%	9.76%	14.74%	9.15%	4.39%	2.93%	3.31%	0.03%	0.98%	1.49%	3.77%	8.46%	7.05%	6.69%	1.80%	2.43%	3.55%	8.44%	4.77%
Net Receivables	1,121,333,333	1,037,600,000	996,300,000	998,666,667	974,050,000	900,480,000	856,716,667	1,069,000,000	1,147,000,000	1,148,000,000	976,000,000	848,000,000	920,000,000	1,009,000,000	955,000,000	945,000,000	946,000,000	1,055,000,000	1,024,000,000	1,109,000,000	1,022,000,000	807,000,000	766,000,000	870,000,000	942,000,000	992,000,000	931,000,000	767,000,000	695,000,000	683,000,000	475,000,000	411,000,000	857,000,000	519,000,000	552,000,000	558,000,000	703,500,000	726,600,000	907,600,000	1,014,900,000	724,900,000	852,700,000	887,800,000
Net Receivables Margin	9.09%	8.94%	8.92%	9.01%	9.22%	9.23%	9.98%	8.82%	9.44%	9.01%	8.76%	8.66%	8.14%	8.81%	9.05%	9.56%	9.00%	9.08%	9.11%	10.05%	9.15%	8.48%	9.61%	8.16%	9.99%	10.55%	10.92%	10.49%	10.75%	10.89%	7.70%	6.67%	16.50%	12.30%	13.07%	11.70%	15.07%	15.86%	20.35%	22.03%	16.29%	18.47%	19.57%
Inventory	264,666,667	246,600,000	243,400,000	232,466,667	215,200,000	191,120,000	170,656,667	277,000,000	264,000,000	253,000,000	218,000,000	221,000,000	244,000,000	207,000,000	222,000,000	257,000,000	271,000,000	236,000,000	223,000,000	216,000,000	209,000,000	169,000,000	164,000,000	194,000,000	176,000,000	151,000,000	132,000,000	104,000,000	92,000,000	97,000,000	90,000,000	91,000,000	100,000,000	59,000,000	58,000,000	63,000,000	61,700,000	61,900,000	70,300,000	80,800,000	70,300,000	80,800,000	64,600,000
Inventory Margin	2.15%	2.13%	2.19%	2.10%	2.02%	1.91%	1.84%	2.28%	2.17%	1.99%	1.96%	2.26%	2.16%	1.81%	2.10%	2.60%	2.58%	2.03%	1.98%	1.96%	1.87%	1.78%	2.06%	1.82%	1.87%	1.61%	1.55%	1.42%	1.42%	1.55%	1.46%	1.48%	1.92%	1.40%	1.37%	1.32%	1.32%	1.35%	1.58%	1.75%	1.58%	1.75%	1.42%
Other Current Assets	214,333,333	182,200,000	214,500,000	241,866,667	254,500,000	278,800,000	292,830,000	201,000,000	292,000,000	150,000,000	134,000,000	134,000,000	337,000,000	288,000,000	282,000,000	133,000,000	194,000,000	514,000,000	267,000,000	249,000,000	219,000,000	234,000,000	230,000,000	317,000,000	293,000,000	339,000,000	283,000,000	379,000,000	446,000,000	432,000,000	278,000,000	345,000,000	363,000,000	272,000,000	334,000,000	336,000,000	509,900,000	242,300,000	505,100,000	189,700,000	515,900,000	423,600,000	541,000,000
Other Current Assets Margin	1.75%	1.56%	1.92%	2.18%	2.43%	3.10%	3.90%	1.66%	2.40%	1.18%	1.20%	1.37%	2.98%	2.51%	2.67%	1.35%	1.85%	4.42%	2.37%	2.26%	1.96%	2.46%	2.89%	2.97%	3.11%	3.60%	3.32%	5.18%	6.90%	6.89%	4.51%	5.60%	6.99%	6.44%	7.91%	7.04%	10.92%	5.29%	11.32%	4.12%	11.59%	9.17%	11.93%
Total Current Assets	2,822,000,000	2,590,200,000	2,396,700,000	2,418,933,333	2,362,700,000	2,153,640,000	2,000,920,000	3,188,000,000	3,271,000,000	2,007,000,000	2,167,000,000	2,318,000,000	2,081,000,000	1,862,000,000	2,149,000,000	2,291,000,000	2,633,000,000	2,778,000,000	3,075,000,000	2,242,000,000	1,751,000,000	2,471,000,000	2,246,000,000	1,999,000,000	1,675,000,000	2,400,000,000	2,650,000,000	1,967,000,000	1,425,000,000	1,299,000,000	1,047,000,000	849,000,000	1,371,000,000	913,000,000	1,103,000,000	1,456,800,000	1,342,800,000	1,337,500,000	1,563,500,000	1,397,200,000	1,469,300,000	1,746,800,000	1,709,700,000
Total Current Assets Margin	22.98%	22.42%	21.53%	21.90%	22.49%	22.01%	22.79%	26.30%	26.91%	15.75%	19.45%	23.68%	18.42%	16.25%	20.37%	23.17%	25.05%	23.90%	27.35%	20.31%	15.67%	25.97%	28.18%	18.75%	17.76%	25.51%	31.08%	26.90%	22.03%	20.72%	16.97%	13.78%	26.39%	21.63%	26.12%	30.54%	28.77%	29.19%	35.06%	30.33%	33.01%	37.83%	37.69%
Property, Plant & Equipment	33,771,000,000	32,862,200,000	31,608,900,000	29,590,933,333	27,607,000,000	24,725,120,000	22,275,096,667	35,831,000,000	33,326,000,000	32,156,000,000	31,653,000,000	31,345,000,000	31,614,000,000	31,091,000,000	30,330,000,000	29,751,000,000	28,992,000,000	27,694,000,000	26,645,000,000	25,736,000,000	24,469,000,000	23,231,000,000	22,643,000,000	22,247,000,000	21,583,000,000	21,098,000,000	20,705,000,000	20,526,000,000	11,779,000,000	11,370,000,000	11,208,000,000	11,105,000,000	10,956,000,000	10,477,000,000	9,904,000,000	9,529,100,000	9,258,800,000	8,987,100,000	8,730,700,000	8,648,000,000	8,372,200,000	8,128,000,000	7,882,000,000
Property, Plant & Equipment Margin	274.01%	285.26%	284.17%	267.54%	260.09%	248.32%	243.33%	295.56%	274.15%	252.30%	284.09%	320.21%	279.87%	271.35%	287.46%	300.88%	275.83%	238.25%	236.95%	233.12%	219.02%	244.13%	284.14%	208.68%	228.83%	224.28%	242.82%	280.72%	182.11%	181.34%	181.65%	180.31%	210.90%	248.21%	234.53%	199.77%	198.35%	196.17%	195.75%	187.73%	188.08%	176.05%	173.77%
Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	0	-79,800,000	-228,300,000	-215,333,333	-161,500,000	-129,200,000	-107,666,667	0	0	0	0	-399,000,000	-388,000,000	-380,000,000	-366,000,000	-329,000,000	-421,000,000	-349,000,000	-316,000,000	-282,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Margin	0.00%	-0.82%	-2.16%	-2.00%	-1.50%	-1.20%	-1.00%	0.00%	0.00%	0.00%	0.00%	-4.08%	-3.43%	-3.32%	-3.47%	-3.33%	-4.01%	-3.00%	-2.81%	-2.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	3,634,333,333	3,640,000,000	3,306,700,000	2,994,133,333	2,708,700,000	3,189,240,000	3,293,346,667	3,370,000,000	3,839,000,000	3,694,000,000	3,707,000,000	3,590,000,000	3,428,000,000	3,109,000,000	2,981,000,000	2,777,000,000	2,572,000,000	2,679,000,000	2,439,000,000	2,300,000,000	2,234,000,000	2,193,000,000	2,164,000,000	1,779,000,000	1,974,000,000	1,755,000,000	1,590,000,000	805,000,000	6,259,000,000	6,178,000,000	6,161,000,000	6,154,000,000	6,132,000,000	6,210,000,000	6,221,000,000	274,700,000	231,700,000	172,800,000	0	0	0	0	0
Long-Term Investments Margin	29.45%	31.66%	29.66%	27.01%	25.36%	36.53%	44.55%	27.80%	31.58%	28.98%	33.27%	36.67%	30.35%	27.13%	28.25%	28.08%	24.47%	23.05%	21.69%	20.83%	20.00%	23.05%	27.16%	16.69%	20.93%	18.66%	18.65%	11.01%	96.77%	98.53%	99.85%	99.92%	118.04%	147.12%	147.31%	5.76%	4.96%	3.77%	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	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	1,179,000,000	1,122,200,000	-672,600,000	-361,800,000	-111,800,000	133,120,000	168,276,667	1,293,000,000	1,216,000,000	1,028,000,000	966,000,000	1,108,000,000	1,188,000,000	557,000,000	-5,707,000,000	-8,738,000,000	363,000,000	272,000,000	460,000,000	179,000,000	84,000,000	304,000,000	316,000,000	272,000,000	912,000,000	775,000,000	916,000,000	1,452,000,000	1,133,000,000	1,109,000,000	1,002,000,000	868,000,000	791,000,000	580,000,000	122,000,000	155,800,000	71,500,000	90,400,000	225,600,000	355,300,000	306,600,000	648,200,000	652,600,000
Other Non-Current Assets Margin	9.58%	9.74%	-7.49%	-4.19%	-1.39%	2.31%	3.14%	10.67%	10.00%	8.07%	8.67%	11.32%	10.52%	4.86%	-54.09%	-88.37%	3.45%	2.34%	4.09%	1.62%	0.75%	3.19%	3.97%	2.55%	9.67%	8.24%	10.74%	19.86%	17.52%	17.69%	16.24%	14.09%	15.23%	13.74%	2.89%	3.27%	1.53%	1.97%	5.06%	7.71%	6.89%	14.04%	14.39%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	38,584,333,333	37,544,600,000	35,573,200,000	33,081,200,000	30,847,350,000	28,562,240,000	26,165,686,667	40,494,000,000	38,381,000,000	36,878,000,000	36,326,000,000	35,644,000,000	35,842,000,000	34,377,000,000	33,562,000,000	32,601,000,000	31,627,000,000	30,463,000,000	29,408,000,000	28,100,000,000	26,787,000,000	25,728,000,000	25,123,000,000	24,298,000,000	24,469,000,000	23,628,000,000	23,211,000,000	22,783,000,000	19,171,000,000	18,657,000,000	18,371,000,000	18,127,000,000	17,879,000,000	17,267,000,000	16,247,000,000	9,959,600,000	9,562,000,000	9,250,300,000	8,956,300,000	9,003,300,000	8,678,800,000	8,776,200,000	8,534,600,000
Total Non-Current Assets Margin	313.04%	325.85%	319.53%	298.90%	290.48%	292.28%	295.29%	334.03%	315.74%	289.35%	326.03%	364.12%	317.30%	300.03%	318.09%	329.70%	300.89%	262.07%	261.52%	254.53%	239.77%	270.37%	315.26%	227.91%	259.43%	251.17%	272.21%	311.58%	296.40%	297.56%	297.75%	294.32%	344.16%	409.07%	384.73%	208.80%	204.84%	201.91%	200.81%	195.44%	194.97%	190.08%	188.15%
Total Assets	41,406,333,333	40,134,800,000	37,969,900,000	35,500,133,333	33,210,050,000	30,715,880,000	28,166,606,667	43,682,000,000	41,652,000,000	38,885,000,000	38,493,000,000	37,962,000,000	37,923,000,000	36,239,000,000	35,711,000,000	34,892,000,000	34,260,000,000	33,241,000,000	32,483,000,000	30,342,000,000	28,538,000,000	28,199,000,000	27,369,000,000	26,297,000,000	26,144,000,000	26,028,000,000	25,861,000,000	24,750,000,000	20,596,000,000	19,956,000,000	19,418,000,000	18,976,000,000	19,250,000,000	18,180,000,000	17,350,000,000	11,416,400,000	10,904,800,000	10,587,800,000	10,519,800,000	10,400,500,000	10,148,100,000	10,523,000,000	10,244,300,000
Total Assets Margin	336.02%	348.27%	341.06%	320.80%	312.97%	314.29%	318.08%	360.32%	342.65%	305.10%	345.48%	387.80%	335.72%	316.28%	338.46%	352.87%	325.94%	285.97%	288.87%	274.84%	255.44%	296.33%	343.44%	246.67%	277.18%	276.69%	303.28%	338.48%	318.43%	318.28%	314.72%	308.10%	370.55%	430.70%	410.85%	239.34%	233.61%	231.11%	235.86%	225.77%	227.98%	227.92%	225.84%
Accounts Payable	898,000,000	819,200,000	770,800,000	773,200,000	859,750,000	873,440,000	840,160,000	985,000,000	997,000,000	712,000,000	850,000,000	552,000,000	710,000,000	828,000,000	822,000,000	650,000,000	602,000,000	748,000,000	685,000,000	777,000,000	499,000,000	1,181,000,000	974,000,000	1,140,000,000	1,139,000,000	1,181,000,000	1,163,000,000	1,012,000,000	948,000,000	908,000,000	848,000,000	925,000,000	818,000,000	600,000,000	624,000,000	594,000,000	732,800,000	704,100,000	653,600,000	655,100,000	698,200,000	791,600,000	819,400,000
Accounts Payable Margin	7.30%	7.04%	6.88%	7.02%	8.32%	9.53%	10.37%	8.13%	8.20%	5.59%	7.63%	5.64%	6.29%	7.23%	7.79%	6.57%	5.73%	6.43%	6.09%	7.04%	4.47%	12.41%	12.22%	10.69%	12.08%	12.55%	13.64%	13.84%	14.66%	14.48%	13.74%	15.02%	15.75%	14.21%	14.78%	12.45%	15.70%	15.37%	14.65%	14.22%	15.69%	17.15%	18.06%
Short-Term Debt	420,666,667	478,800,000	534,500,000	456,666,667	449,100,000	450,560,000	407,563,333	555,000,000	4,000,000	703,000,000	553,000,000	579,000,000	316,000,000	585,000,000	700,000,000	650,000,000	700,000,000	102,000,000	545,000,000	250,000,000	150,000,000	458,000,000	474,000,000	484,000,000	369,000,000	491,000,000	314,000,000	662,000,000	360,000,000	358,000,000	605,000,000	297,000,000	503,000,000	141,000,000	88,000,000	100,000,000	130,900,000	116,900,000	263,200,000	231,200,000	408,700,000	266,700,000	97,500,000
Short-Term Debt Margin	3.38%	4.20%	4.88%	4.19%	4.31%	4.85%	4.71%	4.58%	0.03%	5.52%	4.96%	5.91%	2.80%	5.11%	6.63%	6.57%	6.66%	0.88%	4.85%	2.26%	1.34%	4.81%	5.95%	4.54%	3.91%	5.22%	3.68%	9.05%	5.57%	5.71%	9.81%	4.82%	9.68%	3.34%	2.08%	2.10%	2.80%	2.55%	5.90%	5.02%	9.18%	5.78%	2.15%
Tax Payables	303,666,667	295,800,000	262,200,000	245,066,667	234,250,000	237,040,000	225,950,000	337,000,000	262,000,000	312,000,000	305,000,000	263,000,000	229,000,000	255,000,000	211,000,000	245,000,000	203,000,000	217,000,000	225,000,000	206,000,000	207,000,000	199,000,000	109,000,000	261,000,000	203,000,000	205,000,000	231,000,000	210,000,000	199,000,000	269,000,000	312,000,000	251,000,000	163,000,000	151,000,000	169,000,000	178,700,000	190,800,000	168,500,000	0	0	0	0	0
Tax Payables Margin	2.46%	2.56%	2.35%	2.21%	2.20%	2.53%	2.73%	2.78%	2.16%	2.45%	2.74%	2.69%	2.03%	2.23%	2.00%	2.48%	1.93%	1.87%	2.00%	1.87%	1.85%	2.09%	1.37%	2.45%	2.15%	2.18%	2.71%	2.87%	3.08%	4.29%	5.06%	4.08%	3.14%	3.58%	4.00%	3.75%	4.09%	3.68%	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	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	727,333,333	584,400,000	510,800,000	477,266,667	413,850,000	394,720,000	376,270,000	1,026,000,000	760,000,000	396,000,000	365,000,000	375,000,000	429,000,000	460,000,000	438,000,000	436,000,000	423,000,000	429,000,000	445,000,000	463,000,000	470,000,000	244,000,000	232,000,000	220,000,000	237,000,000	216,000,000	213,000,000	317,000,000	294,000,000	318,000,000	248,000,000	414,000,000	440,000,000	225,000,000	212,000,000	201,000,000	342,100,000	142,300,000	281,100,000	296,200,000	233,900,000	313,500,000	289,900,000
Other Current Liabilities Margin	5.94%	4.99%	4.53%	4.26%	3.81%	4.04%	4.38%	8.46%	6.25%	3.11%	3.28%	3.83%	3.80%	4.01%	4.15%	4.41%	4.02%	3.69%	3.96%	4.19%	4.21%	2.56%	2.91%	2.06%	2.51%	2.30%	2.50%	4.34%	4.55%	5.07%	4.02%	6.72%	8.47%	5.33%	5.02%	4.21%	7.33%	3.11%	6.30%	6.43%	5.25%	6.79%	6.39%
Total Current Liabilities	2,942,000,000	2,701,400,000	2,551,300,000	2,364,133,333	2,265,900,000	2,217,840,000	2,065,870,000	3,545,000,000	2,632,000,000	2,649,000,000	2,521,000,000	2,160,000,000	2,300,000,000	2,591,000,000	2,545,000,000	2,339,000,000	2,231,000,000	1,780,000,000	2,305,000,000	2,081,000,000	1,701,000,000	2,082,000,000	1,789,000,000	2,105,000,000	1,948,000,000	2,093,000,000	1,921,000,000	2,201,000,000	1,801,000,000	1,853,000,000	2,386,000,000	1,887,000,000	1,924,000,000	1,117,000,000	1,093,000,000	1,190,300,000	1,205,800,000	1,131,800,000	1,197,900,000	1,182,500,000	1,340,800,000	1,371,800,000	1,206,800,000
Total Current Liabilities Margin	23.89%	23.27%	22.83%	21.34%	21.39%	23.38%	24.16%	29.24%	21.65%	20.78%	22.63%	22.07%	20.36%	22.61%	24.12%	23.65%	21.23%	15.31%	20.50%	18.85%	15.23%	21.88%	22.45%	19.74%	20.65%	22.25%	22.53%	30.10%	27.84%	29.55%	38.67%	30.64%	37.04%	26.46%	25.88%	24.95%	25.83%	24.70%	26.86%	25.67%	30.12%	29.71%	26.60%
Long-Term Debt	16,101,666,667	14,738,800,000	12,422,500,000	10,962,733,333	9,801,350,000	9,242,480,000	8,561,753,333	16,651,000,000	17,175,000,000	14,479,000,000	13,287,000,000	12,102,000,000	11,880,000,000	10,560,000,000	9,136,000,000	9,562,000,000	9,393,000,000	8,924,000,000	8,903,000,000	8,432,000,000	7,390,000,000	6,567,000,000	6,679,000,000	6,183,000,000	5,999,000,000	6,109,000,000	6,616,000,000	6,863,000,000	6,800,000,000	7,006,000,000	7,027,000,000	7,339,000,000	7,556,000,000	7,483,000,000	7,398,000,000	1,800,300,000	1,553,300,000	1,547,800,000	1,481,500,000	1,565,900,000	1,300,100,000	1,030,400,000	693,600,000
Long-Term Debt Margin	130.75%	127.02%	110.51%	98.17%	91.03%	94.57%	97.77%	137.35%	141.29%	113.61%	119.25%	123.63%	105.17%	92.16%	86.59%	96.70%	89.36%	76.77%	79.17%	76.38%	66.15%	69.01%	83.81%	58.00%	63.60%	64.94%	77.59%	93.86%	105.13%	111.74%	113.89%	119.16%	145.45%	177.28%	175.18%	37.74%	33.28%	33.79%	33.22%	33.99%	29.21%	22.32%	15.29%
Capital Lease Obligations	358,000,000	384,000,000	246,000,000	164,000,000	123,000,000	98,400,000	82,000,000	272,000,000	392,000,000	410,000,000	413,000,000	433,000,000	538,000,000	2,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	2.90%	3.36%	2.16%	1.44%	1.08%	0.86%	0.72%	2.24%	3.22%	3.22%	3.71%	4.42%	4.76%	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%	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	7,303,333,333	7,199,400,000	7,379,900,000	7,570,933,333	7,308,600,000	6,579,240,000	5,896,786,667	7,420,000,000	7,225,000,000	7,265,000,000	7,165,000,000	6,922,000,000	6,815,000,000	6,460,000,000	6,324,000,000	9,140,000,000	9,063,000,000	8,817,000,000	8,542,000,000	7,832,000,000	7,486,000,000	7,088,000,000	6,747,000,000	6,366,000,000	6,431,000,000	6,444,000,000	6,620,000,000	6,550,000,000	3,223,000,000	3,010,000,000	2,781,000,000	2,745,000,000	2,687,000,000	2,545,000,000	2,480,000,000	2,411,600,000	2,299,000,000	2,208,000,000	2,129,800,000	2,654,800,000	2,606,500,000	2,708,400,000	2,703,000,000
Deferred Tax Liabilities Margin	59.21%	62.53%	66.80%	68.81%	69.55%	66.72%	64.62%	61.21%	59.44%	57.00%	64.31%	70.71%	60.33%	56.38%	59.94%	92.44%	86.22%	75.85%	75.96%	70.94%	67.01%	74.49%	84.67%	59.71%	68.18%	68.50%	77.64%	89.58%	49.83%	48.01%	45.07%	44.57%	51.72%	60.29%	58.73%	50.56%	49.25%	48.20%	47.75%	57.63%	58.56%	58.66%	59.59%
Other Non-Current Liabilities	1,343,333,333	1,230,600,000	1,149,600,000	1,310,200,000	1,435,250,000	1,416,360,000	1,345,083,333	1,569,000,000	1,552,000,000	909,000,000	1,014,000,000	1,109,000,000	1,023,000,000	986,000,000	1,067,000,000	1,162,000,000	1,105,000,000	1,032,000,000	1,311,000,000	2,104,000,000	1,917,000,000	1,793,000,000	1,801,000,000	2,030,000,000	2,039,000,000	1,767,000,000	1,415,000,000	1,146,000,000	1,796,000,000	1,542,000,000	1,089,000,000	1,131,000,000	1,101,000,000	1,065,000,000	885,000,000	927,000,000	965,500,000	961,900,000	1,035,400,000	710,300,000	750,800,000	432,800,000	403,200,000
Other Non-Current Liabilities Margin	10.95%	10.65%	10.33%	11.93%	13.88%	15.26%	16.30%	12.94%	12.77%	7.13%	9.10%	11.33%	9.06%	8.61%	10.11%	11.75%	10.51%	8.88%	11.66%	19.06%	17.16%	18.84%	22.60%	19.04%	21.62%	18.78%	16.59%	15.67%	27.77%	24.59%	17.65%	18.36%	21.19%	25.23%	20.96%	19.43%	20.68%	21.00%	23.21%	15.42%	16.87%	9.37%	8.89%
Total Non-Current Liabilities	25,191,000,000	23,783,000,000	21,443,200,000	20,216,600,000	18,825,550,000	17,462,000,000	15,992,226,667	25,831,000,000	26,239,000,000	23,503,000,000	22,331,000,000	21,011,000,000	20,439,000,000	18,286,000,000	16,807,000,000	20,144,000,000	19,841,000,000	19,053,000,000	18,889,000,000	18,501,000,000	16,926,000,000	15,448,000,000	15,227,000,000	14,595,000,000	14,469,000,000	14,320,000,000	14,651,000,000	14,559,000,000	11,810,000,000	11,558,000,000	10,897,000,000	11,215,000,000	11,344,000,000	11,093,000,000	10,763,000,000	5,199,000,000	4,817,800,000	4,717,700,000	4,646,700,000	4,931,000,000	4,657,400,000	4,171,600,000	3,799,800,000
Total Non-Current Liabilities Margin	204.45%	205.68%	192.07%	182.27%	176.97%	178.57%	180.41%	213.07%	215.85%	184.41%	200.42%	214.64%	180.94%	159.59%	159.29%	203.72%	188.76%	163.91%	167.98%	167.58%	151.50%	162.34%	191.08%	136.90%	153.40%	152.23%	171.82%	199.11%	182.59%	184.34%	176.61%	182.09%	218.36%	262.81%	254.87%	108.99%	103.21%	102.98%	104.18%	107.04%	104.63%	90.35%	83.77%
Total Liabilities	28,133,000,000	26,484,400,000	23,994,500,000	22,580,733,333	21,091,450,000	19,679,840,000	18,058,096,667	29,376,000,000	28,871,000,000	26,152,000,000	24,852,000,000	23,171,000,000	22,739,000,000	20,877,000,000	19,352,000,000	22,483,000,000	22,072,000,000	20,833,000,000	21,194,000,000	20,582,000,000	18,627,000,000	17,530,000,000	17,016,000,000	16,700,000,000	16,417,000,000	16,413,000,000	16,572,000,000	16,760,000,000	13,611,000,000	13,411,000,000	13,283,000,000	13,102,000,000	13,268,000,000	12,210,000,000	11,856,000,000	6,389,300,000	6,023,600,000	5,849,500,000	5,844,600,000	6,113,500,000	5,998,200,000	5,543,400,000	5,006,600,000
Total Liabilities Margin	228.34%	228.95%	214.91%	203.61%	198.36%	201.95%	204.57%	242.32%	237.50%	205.19%	223.05%	236.70%	201.30%	182.20%	183.41%	227.38%	209.99%	179.22%	188.47%	186.43%	166.73%	184.22%	213.53%	156.65%	174.06%	174.48%	194.35%	229.21%	210.44%	213.89%	215.28%	212.73%	255.40%	289.27%	280.75%	133.95%	129.04%	127.68%	131.04%	132.71%	134.75%	120.06%	110.37%
Preferred Stock	0	0	0	0	0	2,600,000	2,166,667	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	65,000,000	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%	0.04%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.04%	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%
Common Stock	228,333,333	236,200,000	258,500,000	280,666,667	308,850,000	329,280,000	323,490,000	228,000,000	227,000,000	230,000,000	242,000,000	254,000,000	259,000,000	269,000,000	285,000,000	292,000,000	299,000,000	310,000,000	310,000,000	315,000,000	332,000,000	358,000,000	370,000,000	368,000,000	380,000,000	418,000,000	431,000,000	421,000,000	412,000,000	410,000,000	407,000,000	405,000,000	404,000,000	401,000,000	399,000,000	132,400,000	136,300,000	140,400,000	0	0	0	0	0
Common Stock Margin	1.85%	2.06%	2.35%	2.56%	3.00%	3.68%	4.15%	1.88%	1.87%	1.80%	2.17%	2.59%	2.29%	2.35%	2.70%	2.95%	2.84%	2.67%	2.76%	2.85%	2.97%	3.76%	4.64%	3.45%	4.03%	4.44%	5.05%	5.76%	6.37%	6.54%	6.60%	6.58%	7.78%	9.50%	9.45%	2.78%	2.92%	3.06%	0.00%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	11,161,666,667	11,590,800,000	11,939,300,000	11,042,666,667	10,385,550,000	9,471,920,000	8,691,636,667	12,093,000,000	10,695,000,000	10,697,000,000	11,586,000,000	12,883,000,000	13,207,000,000	13,440,000,000	14,176,000,000	10,425,000,000	10,191,000,000	10,348,000,000	9,339,000,000	8,643,000,000	8,693,000,000	9,224,000,000	9,027,000,000	8,501,000,000	8,280,000,000	8,283,000,000	7,980,000,000	6,893,000,000	6,112,000,000	5,694,000,000	5,335,000,000	5,053,000,000	5,187,000,000	5,252,000,000	4,826,000,000	4,403,700,000	4,282,400,000	4,154,600,000	4,078,500,000	3,697,800,000	3,563,000,000	4,351,200,000	4,566,500,000
Retained Earnings Margin	90.55%	101.45%	107.82%	100.22%	98.29%	96.55%	97.88%	99.75%	87.98%	83.93%	103.98%	131.61%	116.92%	117.30%	134.36%	105.43%	96.96%	89.02%	83.05%	78.29%	77.81%	96.93%	113.28%	79.74%	87.79%	88.05%	93.59%	94.27%	94.50%	90.81%	86.47%	82.04%	99.85%	124.43%	114.28%	92.32%	91.74%	90.69%	91.44%	80.27%	80.04%	94.24%	100.67%
Accumulated OCI	-311,000,000	-385,800,000	-427,100,000	-532,666,667	-532,000,000	-433,360,000	-800,433,333	-262,000,000	-320,000,000	-351,000,000	-402,000,000	-594,000,000	-491,000,000	-563,000,000	-356,000,000	-487,000,000	-445,000,000	-398,000,000	-381,000,000	-1,109,000,000	-1,026,000,000	-805,000,000	-853,000,000	-952,000,000	-399,000,000	-369,000,000	-77,000,000	-24,000,000	-44,000,000	-65,000,000	-55,000,000	-6,000,000	-11,000,000	-8,000,000	-4,435,000,000	-4,399,000,000	-4,326,000,000	-4,223,000,000	0	0	0	0	0
Accumulated OCI Margin	-2.52%	-3.44%	-3.90%	-4.90%	-5.11%	-4.21%	-13.19%	-2.16%	-2.63%	-2.75%	-3.61%	-6.07%	-4.35%	-4.91%	-3.37%	-4.93%	-4.23%	-3.42%	-3.39%	-10.05%	-9.18%	-8.46%	-10.70%	-8.93%	-4.23%	-3.92%	-0.90%	-0.33%	-0.68%	-1.04%	-0.89%	-0.10%	-0.21%	-0.19%	-105.02%	-92.22%	-92.67%	-92.18%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	0	0	0	0	0	5,960,000	13,290,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9,000,000	45,000,000	45,000,000	50,000,000	50,000,000	49,000,000	49,000,000	49,500,000	52,200,000	53,500,000	54,500,000	54,400,000	56,500,000	67,700,000	69,100,000
Minority Interest Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.14%	0.72%	0.73%	0.81%	0.96%	1.16%	1.16%	1.04%	1.12%	1.17%	1.22%	1.18%	1.27%	1.47%	1.52%
Total Shareholders’ Equity	13,273,333,333	13,650,400,000	13,975,400,000	12,919,400,000	12,118,600,000	11,030,080,000	10,095,220,000	14,306,000,000	12,781,000,000	12,733,000,000	13,641,000,000	14,791,000,000	15,184,000,000	15,362,000,000	16,359,000,000	12,409,000,000	12,188,000,000	12,408,000,000	11,289,000,000	9,760,000,000	9,911,000,000	10,669,000,000	10,353,000,000	9,597,000,000	9,727,000,000	9,615,000,000	9,289,000,000	7,990,000,000	6,976,000,000	6,500,000,000	6,090,000,000	5,824,000,000	5,932,000,000	5,921,000,000	5,445,000,000	4,977,600,000	4,829,000,000	4,684,800,000	4,620,700,000	4,232,600,000	4,093,400,000	4,911,900,000	5,168,600,000
Total Shareholders’ Equity Margin	107.68%	119.32%	126.16%	117.20%	114.61%	112.25%	113.25%	118.01%	105.14%	99.91%	122.43%	151.10%	134.42%	134.07%	155.05%	125.50%	115.95%	106.74%	100.39%	88.41%	88.71%	112.12%	129.92%	90.02%	103.13%	102.21%	108.94%	109.27%	107.85%	103.67%	98.70%	94.56%	114.19%	140.27%	128.94%	104.35%	103.45%	102.26%	103.60%	91.88%	91.96%	106.39%	113.95%
Total Equity	13,273,333,333	13,650,400,000	13,975,400,000	12,919,400,000	12,118,600,000	11,036,040,000	10,108,510,000	14,306,000,000	12,781,000,000	12,733,000,000	13,641,000,000	14,791,000,000	15,184,000,000	15,362,000,000	16,359,000,000	12,409,000,000	12,188,000,000	12,408,000,000	11,289,000,000	9,760,000,000	9,911,000,000	10,669,000,000	10,353,000,000	9,597,000,000	9,727,000,000	9,615,000,000	9,289,000,000	7,990,000,000	6,985,000,000	6,545,000,000	6,135,000,000	5,874,000,000	5,982,000,000	5,970,000,000	5,494,000,000	5,027,100,000	4,881,200,000	4,738,300,000	4,675,200,000	4,287,000,000	4,149,900,000	4,979,600,000	5,237,700,000
Total Equity Margin	107.68%	119.32%	126.16%	117.20%	114.61%	112.34%	113.51%	118.01%	105.14%	99.91%	122.43%	151.10%	134.42%	134.07%	155.05%	125.50%	115.95%	106.74%	100.39%	88.41%	88.71%	112.12%	129.92%	90.02%	103.13%	102.21%	108.94%	109.27%	107.99%	104.39%	99.43%	95.37%	115.15%	141.44%	130.10%	105.39%	104.57%	103.43%	104.82%	93.06%	93.23%	107.85%	115.47%
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	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	3,634,333,333	3,640,000,000	3,306,700,000	3,023,533,333	2,803,200,000	3,268,520,000	3,381,163,333	3,370,000,000	3,839,000,000	3,694,000,000	3,707,000,000	3,590,000,000	3,428,000,000	3,109,000,000	2,981,000,000	2,777,000,000	2,572,000,000	2,679,000,000	2,557,000,000	2,315,000,000	2,259,000,000	2,476,000,000	2,254,000,000	1,779,000,000	1,974,000,000	2,146,000,000	2,558,000,000	895,000,000	6,259,000,000	6,178,000,000	6,161,000,000	6,156,000,000	6,146,000,000	6,268,000,000	6,346,000,000	468,900,000	493,000,000	422,500,000	0	0	0	0	0
Total Investments Margin	29.45%	31.66%	29.66%	27.31%	26.42%	37.43%	45.77%	27.80%	31.58%	28.98%	33.27%	36.67%	30.35%	27.13%	28.25%	28.08%	24.47%	23.05%	22.74%	20.97%	20.22%	26.02%	28.28%	16.69%	20.93%	22.81%	30.00%	12.24%	96.77%	98.53%	99.85%	99.95%	118.31%	148.50%	150.27%	9.83%	10.56%	9.22%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt	15,658,666,667	14,477,800,000	12,272,400,000	10,684,866,667	9,567,750,000	9,096,840,000	8,460,720,000	15,837,000,000	16,003,000,000	15,136,000,000	13,414,000,000	11,999,000,000	12,154,000,000	10,787,000,000	9,146,000,000	9,256,000,000	8,992,000,000	8,053,000,000	8,005,000,000	8,029,000,000	7,264,000,000	6,198,000,000	6,157,000,000	6,049,000,000	6,162,000,000	6,073,000,000	6,641,000,000	6,946,000,000	6,876,000,000	7,180,000,000	7,428,000,000	7,636,000,000	8,022,000,000	7,619,000,000	7,452,000,000	1,691,100,000	1,616,500,000	1,607,700,000	1,664,200,000	1,685,300,000	1,550,600,000	907,400,000	574,800,000
Net Debt Margin	127.01%	124.80%	109.16%	95.66%	88.84%	93.48%	97.28%	130.64%	131.65%	118.76%	120.39%	122.58%	107.60%	94.14%	86.68%	93.61%	85.55%	69.28%	71.19%	72.73%	65.02%	65.13%	77.26%	56.74%	65.33%	64.56%	77.88%	94.99%	106.31%	114.51%	120.39%	123.98%	154.42%	180.50%	176.46%	35.45%	34.63%	35.09%	37.31%	36.58%	34.83%	19.65%	12.67%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,341,333,333	11,591,000,000	11,165,900,000	11,083,733,333	10,612,600,000	9,785,240,000	8,923,600,000	12,123,000,000	12,156,000,000	12,745,000,000	11,142,000,000	9,789,000,000	11,296,000,000	11,458,000,000	10,551,000,000	9,888,000,000	10,511,000,000	11,624,000,000	11,245,000,000	11,040,000,000	11,172,000,000	9,516,000,000	7,969,000,000	10,661,000,000	9,432,000,000	9,407,000,000	8,527,000,000	7,312,000,000	6,468,000,000	6,270,000,000	6,170,000,000	6,159,000,000	5,195,000,000	4,221,000,000	4,223,000,000	4,770,000,000	4,668,000,000	4,581,300,000	4,460,100,000	4,606,600,000	4,451,300,000	4,617,000,000	4,536,000,000
Working Capital	-120,000,000	-111,200,000	-154,600,000	54,800,000	96,800,000	-64,200,000	-64,950,000	-357,000,000	639,000,000	-642,000,000	-354,000,000	158,000,000	-219,000,000	-729,000,000	-396,000,000	-48,000,000	402,000,000	998,000,000	770,000,000	161,000,000	50,000,000	389,000,000	457,000,000	-106,000,000	-273,000,000	307,000,000	729,000,000	-234,000,000	-376,000,000	-554,000,000	-1,339,000,000	-1,038,000,000	-553,000,000	-204,000,000	10,000,000	266,500,000	137,000,000	205,700,000	365,600,000	214,700,000	128,500,000	375,000,000	502,900,000
Working Capital Margin	-0.91%	-0.86%	-1.30%	0.56%	1.10%	-1.37%	-1.37%	-2.94%	5.26%	-5.04%	-3.18%	1.61%	-1.94%	-6.36%	-3.75%	-0.49%	3.82%	8.59%	6.85%	1.46%	0.45%	4.09%	5.73%	-0.99%	-2.89%	3.26%	8.55%	-3.20%	-5.81%	-8.84%	-21.70%	-16.85%	-10.64%	-4.83%	0.24%	5.59%	2.93%	4.49%	8.20%	4.66%	2.89%	8.12%	11.09%
Total Capital	30,153,666,667	29,252,000,000	27,178,200,000	24,502,666,667	22,491,950,000	20,821,440,000	19,146,470,000	31,784,000,000	30,352,000,000	28,325,000,000	27,894,000,000	27,905,000,000	27,918,000,000	26,507,000,000	26,195,000,000	22,621,000,000	22,281,000,000	21,434,000,000	20,737,000,000	18,442,000,000	17,451,000,000	17,694,000,000	17,506,000,000	16,264,000,000	16,095,000,000	16,215,000,000	16,219,000,000	15,515,000,000	14,136,000,000	13,864,000,000	13,722,000,000	13,460,000,000	13,991,000,000	13,545,000,000	12,931,000,000	6,877,900,000	6,513,200,000	6,349,500,000	6,365,400,000	6,029,700,000	5,802,200,000	6,209,000,000	5,959,700,000
Total Capital Margin	244.70%	253.91%	243.70%	221.00%	211.02%	212.53%	216.45%	262.18%	249.69%	222.24%	250.35%	285.06%	247.15%	231.34%	248.27%	228.77%	211.98%	184.39%	184.41%	167.05%	156.20%	185.94%	219.68%	152.56%	170.64%	172.37%	190.21%	212.19%	218.55%	221.12%	222.40%	218.54%	269.32%	320.90%	306.20%	144.19%	139.53%	138.60%	142.72%	130.89%	130.35%	134.48%	131.39%
Capital Employed	38,464,333,333	37,433,400,000	35,418,600,000	33,136,000,000	30,944,150,000	28,498,040,000	26,100,736,667	40,137,000,000	39,020,000,000	36,236,000,000	35,972,000,000	35,802,000,000	35,623,000,000	33,648,000,000	33,166,000,000	32,553,000,000	32,029,000,000	31,461,000,000	30,178,000,000	28,261,000,000	26,837,000,000	26,117,000,000	25,580,000,000	24,192,000,000	24,196,000,000	23,935,000,000	23,940,000,000	22,549,000,000	18,795,000,000	18,103,000,000	17,032,000,000	17,089,000,000	17,326,000,000	17,063,000,000	16,257,000,000	10,226,100,000	9,699,000,000	9,456,000,000	9,321,900,000	9,218,000,000	8,807,300,000	9,151,200,000	9,037,500,000
Capital Employed Margin	312.13%	325.00%	318.23%	299.46%	291.58%	290.91%	293.92%	331.08%	320.99%	284.32%	322.85%	365.74%	315.36%	293.66%	314.34%	329.22%	304.72%	270.66%	268.37%	255.99%	240.22%	274.45%	320.99%	226.92%	256.53%	254.44%	280.76%	308.38%	290.58%	288.72%	276.05%	277.46%	333.51%	404.24%	384.96%	214.38%	207.78%	206.40%	209.01%	200.10%	197.86%	198.21%	199.24%
Invested Capital	28,932,000,000	28,128,200,000	26,247,800,000	23,604,266,667	21,686,350,000	20,126,920,000	18,555,940,000	30,143,000,000	28,784,000,000	27,869,000,000	27,055,000,000	26,790,000,000	27,338,000,000	26,149,000,000	25,505,000,000	21,665,000,000	21,180,000,000	20,461,000,000	19,294,000,000	17,789,000,000	17,175,000,000	16,867,000,000	16,510,000,000	15,646,000,000	15,889,000,000	15,688,000,000	15,930,000,000	14,936,000,000	13,852,000,000	13,680,000,000	13,518,000,000	13,460,000,000	13,954,000,000	13,540,000,000	12,897,000,000	6,668,700,000	6,445,500,000	6,292,500,000	6,284,900,000	5,917,900,000	5,644,000,000	5,819,300,000	5,743,400,000
Invested Capital Margin	234.70%	244.12%	235.32%	212.86%	203.44%	205.72%	210.53%	248.64%	236.79%	218.67%	242.82%	273.67%	242.01%	228.22%	241.73%	219.10%	201.50%	176.02%	171.58%	161.13%	153.73%	177.25%	207.18%	146.76%	168.46%	166.77%	186.82%	204.27%	214.16%	218.18%	219.09%	218.54%	268.60%	320.78%	305.40%	139.81%	138.08%	137.35%	140.91%	128.47%	126.79%	126.04%	126.62%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,341,333,333	11,591,000,000	11,165,900,000	11,083,733,333	10,612,600,000	9,785,240,000	8,923,600,000	12,123,000,000	12,156,000,000	12,745,000,000	11,142,000,000	9,789,000,000	11,296,000,000	11,458,000,000	10,551,000,000	9,888,000,000	10,511,000,000	11,624,000,000	11,245,000,000	11,040,000,000	11,172,000,000	9,516,000,000	7,969,000,000	10,661,000,000	9,432,000,000	9,407,000,000	8,527,000,000	7,312,000,000	6,468,000,000	6,270,000,000	6,170,000,000	6,159,000,000	5,195,000,000	4,221,000,000	4,223,000,000	4,770,000,000	4,668,000,000	4,581,300,000	4,460,100,000	4,606,600,000	4,451,300,000	4,617,000,000	4,536,000,000
Net Income	2,573,000,000	2,547,400,000	2,675,300,000	2,388,266,667	2,140,000,000	1,809,680,000	1,606,270,000	2,622,000,000	1,827,000,000	3,270,000,000	3,005,000,000	2,013,000,000	2,722,000,000	2,666,000,000	5,404,000,000	1,668,000,000	1,556,000,000	2,000,000,000	1,910,000,000	1,749,000,000	1,916,000,000	1,496,000,000	1,034,000,000	1,716,000,000	1,464,000,000	1,481,000,000	1,281,000,000	923,000,000	525,000,000	460,000,000	362,000,000	172,000,000	239,000,000	525,000,000	699,000,000	770,400,000	712,700,000	667,800,000	548,700,000	557,700,000	29,700,000	556,100,000	606,200,000
Net Income Margin	20.77%	21.97%	24.01%	21.53%	19.92%	17.40%	16.67%	21.63%	15.03%	25.66%	26.97%	20.56%	24.10%	23.27%	51.22%	16.87%	14.80%	17.21%	16.99%	15.84%	17.15%	15.72%	12.98%	16.10%	15.52%	15.74%	15.02%	12.62%	8.12%	7.34%	5.87%	2.79%	4.60%	12.44%	16.55%	16.15%	15.27%	14.58%	12.30%	12.11%	0.67%	12.04%	13.36%
Depreciation & Amortization	1,290,666,667	1,241,400,000	1,159,800,000	1,072,866,667	1,003,800,000	911,440,000	833,323,333	1,353,000,000	1,298,000,000	1,221,000,000	1,181,000,000	1,154,000,000	1,139,000,000	1,104,000,000	1,059,000,000	1,030,000,000	1,059,000,000	956,000,000	922,000,000	922,000,000	869,000,000	826,000,000	845,000,000	815,000,000	786,000,000	750,000,000	787,000,000	609,000,000	528,000,000	529,000,000	527,000,000	517,000,000	489,000,000	450,000,000	432,000,000	429,200,000	413,500,000	403,800,000	-405,500,000	-396,600,000	-381,300,000	-373,000,000	-347,000,000
Depreciation & Amortization Margin	10.47%	10.76%	10.41%	9.69%	9.45%	9.24%	9.30%	11.16%	10.68%	9.58%	10.60%	11.79%	10.08%	9.64%	10.04%	10.42%	10.08%	8.22%	8.20%	8.35%	7.78%	8.68%	10.60%	7.64%	8.33%	7.97%	9.23%	8.33%	8.16%	8.44%	8.54%	8.39%	9.41%	10.66%	10.23%	9.00%	8.86%	8.81%	-9.09%	-8.61%	-8.57%	-8.08%	-7.65%
Deferred Income Tax	70,000,000	107,200,000	-127,300,000	32,533,333	65,650,000	74,760,000	76,893,333	176,000,000	-49,000,000	83,000,000	184,000,000	142,000,000	330,000,000	173,000,000	-2,859,000,000	227,000,000	320,000,000	294,000,000	262,000,000	366,000,000	527,000,000	312,000,000	338,000,000	290,000,000	125,000,000	-8,000,000	80,000,000	200,000,000	132,000,000	178,000,000	44,000,000	2,000,000	85,000,000	114,000,000	75,000,000	97,100,000	66,700,000	112,700,000	56,200,000	64,100,000	-124,100,000	-2,800,000	100,300,000
Deferred Income Tax Margin	0.57%	0.96%	-1.25%	0.24%	0.64%	0.85%	1.02%	1.45%	-0.40%	0.65%	1.65%	1.45%	2.92%	1.51%	-27.10%	2.30%	3.04%	2.53%	2.33%	3.32%	4.72%	3.28%	4.24%	2.72%	1.33%	-0.09%	0.94%	2.74%	2.04%	2.84%	0.71%	0.03%	1.64%	2.70%	1.78%	2.04%	1.43%	2.46%	1.26%	1.39%	-2.79%	-0.06%	2.21%
Stock-Based Compensation	17,666,667	16,200,000	8,100,000	8,400,000	6,300,000	5,040,000	4,200,000	0	0	53,000,000	0	28,000,000	0	0	0	0	0	0	0	45,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.14%	0.14%	0.07%	0.07%	0.06%	0.04%	0.04%	0.00%	0.00%	0.42%	0.00%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	264,000,000	214,000,000	153,000,000	92,533,333	64,250,000	81,000,000	69,946,667	625,000,000	368,000,000	-201,000,000	147,000,000	131,000,000	-139,000,000	122,000,000	58,000,000	305,000,000	114,000,000	-251,000,000	78,000,000	5,000,000	-53,000,000	79,000,000	-200,000,000	-19,000,000	9,000,000	62,000,000	45,000,000	82,000,000	86,000,000	-84,000,000	-176,000,000	832,000,000	-48,000,000	-50,000,000	43,000,000	-17,200,000	145,600,000	18,900,000	-26,500,000	94,500,000	-60,000,000	92,200,000	102,100,000
Change in Working Capital Margin	2.20%	1.85%	1.38%	0.85%	0.57%	0.92%	0.83%	5.16%	3.03%	-1.58%	1.32%	1.34%	-1.23%	1.06%	0.55%	3.08%	1.08%	-2.16%	0.69%	0.05%	-0.47%	0.83%	-2.51%	-0.18%	0.10%	0.66%	0.53%	1.12%	1.33%	-1.34%	-2.85%	13.51%	-0.92%	-1.18%	1.02%	-0.36%	3.12%	0.41%	-0.59%	2.05%	-1.35%	2.00%	2.25%
Accounts Receivable	-29,333,333	-30,000,000	-4,200,000	-20,533,333	-5,000,000	-760,000	-10,123,333	85,000,000	-2,000,000	-171,000,000	-133,000,000	71,000,000	87,000,000	-70,000,000	-41,000,000	23,000,000	109,000,000	-31,000,000	85,000,000	-64,000,000	-215,000,000	-41,000,000	63,000,000	269,000,000	30,000,000	-60,000,000	-94,000,000	-71,000,000	-12,000,000	-208,000,000	-74,000,000	446,000,000	-322,000,000	33,000,000	-23,000,000	-800,000	28,100,000	-12,900,000	18,100,000	-23,700,000	127,800,000	35,100,000	78,200,000
Accounts Receivable Margin	-0.22%	-0.23%	-0.01%	-0.17%	-0.03%	0.04%	-0.15%	0.70%	-0.02%	-1.34%	-1.19%	0.73%	0.77%	-0.61%	-0.39%	0.23%	1.04%	-0.27%	0.76%	-0.58%	-1.92%	-0.43%	0.79%	2.52%	0.32%	-0.64%	-1.10%	-0.97%	-0.19%	-3.32%	-1.20%	7.24%	-6.20%	0.78%	-0.54%	-0.02%	0.60%	-0.28%	0.41%	-0.51%	2.87%	0.76%	1.72%
Inventory	-19,666,667	-6,600,000	-1,300,000	-5,666,667	-7,250,000	-5,960,000	-6,270,000	-13,000,000	-11,000,000	-35,000,000	3,000,000	23,000,000	-37,000,000	15,000,000	35,000,000	42,000,000	-35,000,000	-13,000,000	-7,000,000	-7,000,000	-40,000,000	-5,000,000	30,000,000	-18,000,000	-25,000,000	-19,000,000	-28,000,000	-12,000,000	5,000,000	-7,000,000	1,000,000	9,000,000	-40,000,000	-1,000,000	3,000,000	-1,300,000	200,000	8,400,000	9,800,000	-10,500,000	10,500,000	-16,100,000	1,600,000
Inventory Margin	-0.16%	-0.04%	0.00%	-0.04%	-0.06%	-0.05%	-0.07%	-0.11%	-0.09%	-0.27%	0.03%	0.23%	-0.33%	0.13%	0.33%	0.42%	-0.33%	-0.11%	-0.06%	-0.06%	-0.36%	-0.05%	0.38%	-0.17%	-0.27%	-0.20%	-0.33%	-0.16%	0.08%	-0.11%	0.02%	0.15%	-0.77%	-0.02%	0.07%	-0.03%	0.00%	0.18%	0.22%	-0.23%	0.24%	-0.35%	0.04%
Accounts Payable	126,333,333	75,800,000	37,900,000	30,733,333	29,200,000	39,920,000	37,266,667	0	379,000,000	0	0	0	0	0	0	0	0	0	0	0	82,000,000	0	0	0	21,000,000	27,000,000	75,000,000	108,000,000	-29,000,000	36,000,000	19,000,000	280,000,000	209,000,000	-89,000,000	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	1.04%	0.62%	0.31%	0.26%	0.26%	0.47%	0.45%	0.00%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.73%	0.00%	0.00%	0.00%	0.22%	0.29%	0.88%	1.48%	-0.45%	0.57%	0.31%	4.55%	4.02%	-2.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Working Capital	186,666,667	174,800,000	120,600,000	85,466,667	49,150,000	19,000,000	31,706,667	553,000,000	2,000,000	5,000,000	277,000,000	37,000,000	-189,000,000	177,000,000	64,000,000	240,000,000	40,000,000	-207,000,000	0	76,000,000	82,000,000	125,000,000	-293,000,000	-270,000,000	-17,000,000	114,000,000	167,000,000	165,000,000	122,000,000	-35,000,000	-122,000,000	-638,000,000	105,000,000	162,000,000	107,000,000	-15,100,000	117,300,000	23,400,000	-54,400,000	128,700,000	-198,300,000	73,200,000	22,300,000
Other Working Capital Margin	1.54%	1.50%	1.08%	0.78%	0.43%	-0.01%	0.34%	4.56%	0.02%	0.04%	2.49%	0.38%	-1.67%	1.54%	0.61%	2.43%	0.38%	-1.78%	0.00%	0.69%	0.73%	1.31%	-3.68%	-2.53%	-0.18%	1.21%	1.96%	2.26%	1.89%	-0.56%	-1.98%	-10.36%	2.02%	3.84%	2.53%	-0.32%	2.51%	0.51%	-1.22%	2.79%	-4.45%	1.59%	0.49%
Other Non-Cash Items	-397,666,667	-257,200,000	-246,800,000	-179,933,333	-157,650,000	-143,560,000	-134,563,333	-724,000,000	-265,000,000	-204,000,000	-262,000,000	169,000,000	-160,000,000	-339,000,000	-409,000,000	-196,000,000	-78,000,000	-84,000,000	-94,000,000	-22,000,000	-32,000,000	1,000,000	-149,000,000	-87,000,000	-51,000,000	-79,000,000	-88,000,000	-153,000,000	-217,000,000	51,000,000	-103,000,000	-14,000,000	-24,000,000	-149,000,000	-99,000,000	-74,800,000	-101,100,000	-58,900,000	478,400,000	638,500,000	1,298,100,000	722,200,000	645,600,000
Other Non-Cash Items Margin	-3.25%	-2.08%	-2.14%	-1.56%	-1.42%	-1.40%	-1.50%	-5.97%	-2.18%	-1.60%	-2.35%	1.73%	-1.42%	-2.96%	-3.88%	-1.98%	-0.74%	-0.72%	-0.84%	-0.20%	-0.29%	0.01%	-1.87%	-0.82%	-0.54%	-0.84%	-1.03%	-2.09%	-3.35%	0.81%	-1.67%	-0.23%	-0.46%	-3.53%	-2.34%	-1.57%	-2.17%	-1.29%	10.73%	13.86%	29.16%	15.64%	14.23%
Net Cash from Operating Activities	3,817,666,667	3,869,000,000	3,612,700,000	3,404,200,000	3,114,100,000	2,711,840,000	2,427,036,667	4,052,000,000	3,179,000,000	4,222,000,000	4,255,000,000	3,637,000,000	3,892,000,000	3,726,000,000	3,253,000,000	3,034,000,000	2,877,000,000	2,852,000,000	3,078,000,000	3,065,000,000	3,227,000,000	2,714,000,000	1,860,000,000	2,715,000,000	2,333,000,000	2,206,000,000	2,105,000,000	1,661,000,000	1,054,000,000	803,000,000	654,000,000	1,342,000,000	533,000,000	890,000,000	1,150,000,000	1,204,700,000	1,237,400,000	1,144,300,000	874,600,000	958,200,000	762,400,000	994,700,000	1,107,200,000
Net Cash from Operating Activities Margin	30.90%	33.61%	32.39%	30.73%	29.13%	26.67%	25.91%	33.42%	26.15%	33.13%	38.19%	37.15%	34.45%	32.52%	30.83%	30.68%	27.37%	24.54%	27.37%	27.76%	28.88%	28.52%	23.34%	25.47%	24.73%	23.45%	24.69%	22.72%	16.30%	12.81%	10.60%	21.79%	10.26%	21.09%	27.23%	25.26%	26.51%	24.98%	19.61%	20.80%	17.13%	21.54%	24.41%
Capital Expenditures (PPE)	-2,773,666,667	-2,257,000,000	-2,125,000,000	-2,080,666,667	-1,880,550,000	-1,661,520,000	-1,520,936,667	-4,024,000,000	-2,349,000,000	-1,948,000,000	-1,470,000,000	-1,494,000,000	-2,019,000,000	-1,951,000,000	-1,723,000,000	-1,887,000,000	-2,385,000,000	-2,118,000,000	-1,971,000,000	-2,241,000,000	-2,160,000,000	-1,470,000,000	-1,299,000,000	-1,558,000,000	-1,341,000,000	-1,178,000,000	-1,025,000,000	-1,041,000,000	-720,000,000	-689,000,000	-746,000,000	-731,000,000	-912,000,000	-956,000,000	-875,000,000	-688,200,000	-658,900,000	-712,900,000	-669,200,000	-716,100,000	-659,400,000	-669,700,000	-651,600,000
Capital Expenditures (PPE) Margin	-22.60%	-19.25%	-18.93%	-18.67%	-17.49%	-16.40%	-16.65%	-33.19%	-19.32%	-15.28%	-13.19%	-15.26%	-17.87%	-17.03%	-16.33%	-19.08%	-22.69%	-18.22%	-17.53%	-20.30%	-19.33%	-15.45%	-16.30%	-14.61%	-14.22%	-12.52%	-12.02%	-14.24%	-11.13%	-10.99%	-12.09%	-11.87%	-17.56%	-22.65%	-20.72%	-14.43%	-14.12%	-15.56%	-15.00%	-15.55%	-14.81%	-14.51%	-14.37%
Acquisitions (Net)	273,666,667	196,200,000	162,100,000	108,066,667	275,900,000	396,880,000	439,553,333	558,000,000	0	263,000,000	159,000,000	1,000,000	104,000,000	204,000,000	202,000,000	130,000,000	0	0	0	0	0	0	0	0	1,465,000,000	1,297,000,000	1,135,000,000	1,116,000,000	798,000,000	720,000,000	902,000,000	868,000,000	1,016,000,000	1,039,000,000	949,000,000	131,100,000	129,500,000	86,100,000	0	0	67,200,000	114,000,000	0
Acquisitions (Net) Margin	2.22%	1.62%	1.40%	0.94%	2.83%	4.98%	6.55%	4.60%	0.00%	2.06%	1.43%	0.01%	0.92%	1.78%	1.91%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.53%	13.79%	13.31%	15.26%	12.34%	11.48%	14.62%	14.09%	19.56%	24.62%	22.47%	2.75%	2.77%	1.88%	0.00%	0.00%	1.51%	2.47%	0.00%
Purchases of Investments	-151,666,667	-95,800,000	-74,600,000	-109,466,667	-312,750,000	-273,720,000	-247,480,000	-319,000,000	-124,000,000	-12,000,000	-10,000,000	-14,000,000	-122,000,000	-10,000,000	-7,000,000	-123,000,000	-5,000,000	-104,000,000	-130,000,000	-23,000,000	-135,000,000	-504,000,000	-266,000,000	-86,000,000	-635,000,000	-1,804,000,000	-1,822,000,000	-228,000,000	-106,000,000	-78,000,000	-99,000,000	-77,000,000	-123,000,000	-116,000,000	-185,000,000	-82,000,000	-75,400,000	-133,100,000	0	0	-93,600,000	-102,500,000	0
Purchases of Investments Margin	-1.25%	-0.80%	-0.65%	-1.02%	-3.33%	-3.02%	-2.95%	-2.63%	-1.02%	-0.09%	-0.09%	-0.14%	-1.08%	-0.09%	-0.07%	-1.24%	-0.05%	-0.89%	-1.16%	-0.21%	-1.21%	-5.30%	-3.34%	-0.81%	-6.73%	-19.18%	-21.37%	-3.12%	-1.64%	-1.24%	-1.60%	-1.25%	-2.37%	-2.75%	-4.38%	-1.72%	-1.62%	-2.91%	0.00%	0.00%	-2.10%	-2.22%	0.00%
Sales / Maturities of Investments	434,666,667	280,400,000	173,200,000	189,266,667	354,600,000	300,080,000	283,546,667	1,005,000,000	205,000,000	94,000,000	99,000,000	-1,000,000	-104,000,000	99,000,000	47,000,000	48,000,000	240,000,000	106,000,000	63,000,000	78,000,000	439,000,000	421,000,000	30,000,000	307,000,000	827,000,000	2,179,000,000	910,000,000	61,000,000	108,000,000	63,000,000	88,000,000	90,000,000	343,000,000	155,000,000	217,000,000	185,400,000	104,000,000	330,700,000	88,600,000	40,200,000	212,400,000	91,900,000	46,100,000
Sales / Maturities of Investments Margin	3.57%	2.32%	1.47%	1.69%	3.56%	3.10%	3.30%	8.29%	1.69%	0.74%	0.89%	-0.01%	-0.92%	0.86%	0.45%	0.49%	2.28%	0.91%	0.56%	0.71%	3.93%	4.42%	0.38%	2.88%	8.77%	23.16%	10.67%	0.83%	1.67%	1.00%	1.43%	1.46%	6.60%	3.67%	5.14%	3.89%	2.23%	7.22%	1.99%	0.87%	4.77%	1.99%	1.02%
Other Investing Activities	28,666,667	83,800,000	85,900,000	99,333,333	-93,050,000	-231,520,000	-475,236,667	0	86,000,000	0	0	333,000,000	377,000,000	0	0	0	63,000,000	114,000,000	144,000,000	192,000,000	84,000,000	97,000,000	84,000,000	109,000,000	-1,341,000,000	-1,178,000,000	-1,025,000,000	-1,041,000,000	-720,000,000	-689,000,000	-746,000,000	-731,000,000	-915,000,000	-789,000,000	-6,616,000,000	-82,000,000	-67,100,000	-58,700,000	110,500,000	800,000	-71,400,000	129,700,000	60,000,000
Other Investing Activities Margin	0.24%	0.82%	0.80%	0.92%	-1.14%	-3.33%	-9.31%	0.00%	0.71%	0.00%	0.00%	3.40%	3.34%	0.00%	0.00%	0.00%	0.60%	0.98%	1.28%	1.74%	0.75%	1.02%	1.05%	1.02%	-14.22%	-12.52%	-12.02%	-14.24%	-11.13%	-10.99%	-12.09%	-11.87%	-17.61%	-18.69%	-156.67%	-1.72%	-1.44%	-1.28%	2.48%	0.02%	-1.60%	2.81%	1.32%
Net Cash from Investing Activities	-2,188,333,333	-1,792,400,000	-1,778,400,000	-1,793,466,667	-1,655,850,000	-1,469,800,000	-1,520,553,333	-2,780,000,000	-2,182,000,000	-1,603,000,000	-1,222,000,000	-1,175,000,000	-1,764,000,000	-1,658,000,000	-1,481,000,000	-1,832,000,000	-2,087,000,000	-2,002,000,000	-1,894,000,000	-1,994,000,000	-1,772,000,000	-1,456,000,000	-1,451,000,000	-1,228,000,000	-1,025,000,000	-684,000,000	-1,827,000,000	-1,133,000,000	-640,000,000	-673,000,000	-601,000,000	-581,000,000	-591,000,000	-667,000,000	-6,510,000,000	-535,700,000	-567,900,000	-487,900,000	-470,100,000	-675,100,000	-544,800,000	-436,600,000	-545,500,000
Net Cash from Investing Activities Margin	-17.82%	-15.29%	-15.89%	-16.15%	-15.58%	-14.67%	-19.05%	-22.93%	-17.95%	-12.58%	-10.97%	-12.00%	-15.62%	-14.47%	-14.04%	-18.53%	-19.86%	-17.22%	-16.84%	-18.06%	-15.86%	-15.30%	-18.21%	-11.52%	-10.87%	-7.27%	-21.43%	-15.50%	-9.89%	-10.73%	-9.74%	-9.43%	-11.38%	-15.80%	-154.16%	-11.23%	-12.17%	-10.65%	-10.54%	-14.66%	-12.24%	-9.46%	-12.03%
Net Debt Issuance	1,078,000,000	945,800,000	777,100,000	637,066,667	460,250,000	337,200,000	429,100,000	-4,000,000	1,959,000,000	1,279,000,000	1,092,000,000	403,000,000	1,004,000,000	1,273,000,000	-412,000,000	94,000,000	1,083,000,000	-445,000,000	739,000,000	1,129,000,000	501,000,000	-139,000,000	403,000,000	280,000,000	-239,000,000	-339,000,000	-456,000,000	-253,000,000	-167,000,000	-91,000,000	230,000,000	-494,000,000	380,000,000	17,000,000	3,996,000,000	116,000,000	-66,000,000	-82,200,000	-53,700,000	87,500,000	411,800,000	428,900,000	10,700,000
Net Debt Issuance Margin	8.71%	8.01%	6.74%	5.56%	3.98%	2.71%	5.70%	-0.03%	16.12%	10.04%	9.80%	4.12%	8.89%	11.11%	-3.90%	0.95%	10.30%	-3.83%	6.57%	10.23%	4.48%	-1.46%	5.06%	2.63%	-2.53%	-3.60%	-5.35%	-3.46%	-2.58%	-1.45%	3.73%	-8.02%	7.31%	0.40%	94.62%	2.43%	-1.41%	-1.79%	-1.20%	1.90%	9.25%	9.29%	0.24%
Long-Term Debt Issuance	1,078,000,000	945,800,000	777,100,000	637,066,667	460,250,000	337,200,000	429,100,000	-4,000,000	1,959,000,000	1,279,000,000	1,092,000,000	403,000,000	1,004,000,000	1,273,000,000	-412,000,000	94,000,000	1,083,000,000	-445,000,000	739,000,000	1,129,000,000	501,000,000	-139,000,000	403,000,000	280,000,000	-239,000,000	-339,000,000	-456,000,000	-253,000,000	-167,000,000	-91,000,000	230,000,000	-494,000,000	380,000,000	17,000,000	3,996,000,000	116,000,000	-66,000,000	-82,200,000	-53,700,000	87,500,000	411,800,000	428,900,000	10,700,000
Long-Term Debt Issuance Margin	8.71%	8.01%	6.74%	5.56%	3.98%	2.71%	5.70%	-0.03%	16.12%	10.04%	9.80%	4.12%	8.89%	11.11%	-3.90%	0.95%	10.30%	-3.83%	6.57%	10.23%	4.48%	-1.46%	5.06%	2.63%	-2.53%	-3.60%	-5.35%	-3.46%	-2.58%	-1.45%	3.73%	-8.02%	7.31%	0.40%	94.62%	2.43%	-1.41%	-1.79%	-1.20%	1.90%	9.25%	9.29%	0.24%
Short-Term Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	-1,236,666,667	-1,690,600,000	-1,599,800,000	-1,372,400,000	-1,145,250,000	-906,880,000	-763,000,000	26,000,000	-622,000,000	-3,114,000,000	-3,373,000,000	-1,370,000,000	-2,072,000,000	-2,741,000,000	-923,000,000	-746,000,000	-1,063,000,000	-188,000,000	-496,000,000	-1,199,000,000	-1,931,000,000	-774,000,000	66,000,000	-899,000,000	-1,013,000,000	-667,000,000	194,000,000	162,000,000	13,000,000	42,000,000	14,000,000	2,000,000	14,000,000	34,000,000	24,000,000	29,000,000	-319,000,000	-335,000,000	-122,400,000	-162,000,000	-622,400,000	-565,300,000	-340,900,000
Net Stock Issuance Margin	-9.78%	-14.72%	-14.23%	-12.31%	-10.39%	-8.18%	-6.97%	0.21%	-5.12%	-24.43%	-30.27%	-14.00%	-18.34%	-23.92%	-8.75%	-7.54%	-10.11%	-1.62%	-4.41%	-10.86%	-17.28%	-8.13%	0.83%	-8.43%	-10.74%	-7.09%	2.28%	2.22%	0.20%	0.67%	0.23%	0.03%	0.27%	0.81%	0.57%	0.61%	-6.83%	-7.31%	-2.74%	-3.52%	-13.98%	-12.24%	-7.52%
Common Stock Issuance	8,666,667	22,400,000	33,700,000	59,733,333	93,250,000	83,920,000	86,900,000	26,000,000	0	0	17,000,000	69,000,000	27,000,000	40,000,000	89,000,000	57,000,000	12,000,000	130,000,000	131,000,000	89,000,000	120,000,000	89,000,000	66,000,000	229,000,000	183,000,000	297,000,000	194,000,000	162,000,000	13,000,000	42,000,000	14,000,000	2,000,000	14,000,000	34,000,000	24,000,000	418,000,000	19,000,000	9,800,000	15,700,000	15,200,000	12,900,000	11,000,000	22,500,000
Common Stock Issuance Margin	0.07%	0.21%	0.32%	0.55%	0.93%	0.88%	1.09%	0.21%	0.00%	0.00%	0.15%	0.70%	0.24%	0.35%	0.84%	0.58%	0.11%	1.12%	1.16%	0.81%	1.07%	0.94%	0.83%	2.15%	1.94%	3.16%	2.28%	2.22%	0.20%	0.67%	0.23%	0.03%	0.27%	0.81%	0.57%	8.76%	0.41%	0.21%	0.35%	0.33%	0.29%	0.24%	0.50%
Common Stock Repurchased	-1,244,333,333	-1,712,400,000	-1,633,200,000	-1,431,933,333	-1,238,350,000	-990,680,000	-849,800,000	0	-619,000,000	-3,114,000,000	-3,390,000,000	-1,439,000,000	-2,099,000,000	-2,781,000,000	-1,012,000,000	-803,000,000	-1,075,000,000	-318,000,000	-627,000,000	-1,288,000,000	-2,051,000,000	-863,000,000	0	-1,128,000,000	-1,196,000,000	-964,000,000	0	0	0	0	0	0	0	0	0	-389,000,000	-338,000,000	-344,800,000	-138,100,000	-177,200,000	-635,300,000	-576,300,000	-363,400,000
Common Stock Repurchased Margin	-9.84%	-14.93%	-14.54%	-12.86%	-11.32%	-9.05%	-8.06%	0.00%	-5.09%	-24.43%	-30.43%	-14.70%	-18.58%	-24.27%	-9.59%	-8.12%	-10.23%	-2.74%	-5.58%	-11.67%	-18.36%	-9.07%	0.00%	-10.58%	-12.68%	-10.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.16%	-7.24%	-7.53%	-3.10%	-3.85%	-14.27%	-12.48%	-8.01%
Preferred Stock Issuance	-1,000,000	-600,000	-300,000	4,000,000	17,850,000	14,280,000	11,900,000	0	-3,000,000	0	0	0	0	0	0	0	0	63,000,000	0	0	0	0	0	0	0	297,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	-0.01%	0.00%	0.00%	0.03%	0.18%	0.15%	0.12%	0.00%	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-1,204,333,333	-1,120,200,000	-950,500,000	-836,200,000	-717,400,000	-604,280,000	-552,406,667	-1,221,000,000	-1,225,000,000	-1,167,000,000	-1,028,000,000	-960,000,000	-949,000,000	-844,000,000	-703,000,000	-695,000,000	-713,000,000	-687,000,000	-637,000,000	-624,000,000	-576,000,000	-514,000,000	-500,000,000	-456,000,000	-377,000,000	-278,000,000	-194,000,000	-142,000,000	-117,000,000	-101,000,000	-93,000,000	-306,000,000	-304,000,000	-303,000,000	-301,000,000	-283,700,000	-273,500,000	-262,700,000	-259,700,000	-255,000,000	-238,500,000	-248,200,000	-241,900,000
Net Dividends Paid Margin	-9.77%	-9.67%	-8.46%	-7.49%	-6.61%	-5.76%	-5.86%	-10.07%	-10.08%	-9.16%	-9.23%	-9.81%	-8.40%	-7.37%	-6.66%	-7.03%	-6.78%	-5.91%	-5.66%	-5.65%	-5.16%	-5.40%	-6.27%	-4.28%	-4.00%	-2.96%	-2.28%	-1.94%	-1.81%	-1.61%	-1.51%	-4.97%	-5.85%	-7.18%	-7.13%	-5.95%	-5.86%	-5.73%	-5.82%	-5.54%	-5.36%	-5.38%	-5.33%
Common Dividends Paid	-1,204,333,333	-1,120,200,000	-950,500,000	-836,200,000	-717,400,000	-604,280,000	-552,406,667	-1,221,000,000	-1,225,000,000	-1,167,000,000	-1,028,000,000	-960,000,000	-949,000,000	-844,000,000	-703,000,000	-695,000,000	-713,000,000	-687,000,000	-637,000,000	-624,000,000	-576,000,000	-514,000,000	-500,000,000	-456,000,000	-377,000,000	-278,000,000	-194,000,000	-142,000,000	-117,000,000	-101,000,000	-93,000,000	-306,000,000	-304,000,000	-303,000,000	-301,000,000	-283,700,000	-273,500,000	-262,700,000	-259,700,000	-255,000,000	-238,500,000	-248,200,000	-241,900,000
Common Dividends Paid Margin	-9.77%	-9.67%	-8.46%	-7.49%	-6.61%	-5.76%	-5.86%	-10.07%	-10.08%	-9.16%	-9.23%	-9.81%	-8.40%	-7.37%	-6.66%	-7.03%	-6.78%	-5.91%	-5.66%	-5.65%	-5.16%	-5.40%	-6.27%	-4.28%	-4.00%	-2.96%	-2.28%	-1.94%	-1.81%	-1.61%	-1.51%	-4.97%	-5.85%	-7.18%	-7.13%	-5.95%	-5.86%	-5.73%	-5.82%	-5.54%	-5.36%	-5.38%	-5.33%
Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 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%	0.00%	0.00%	0.00%	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	1,000,000	600,000	2,600,000	1,733,333	1,300,000	-680,000	35,390,000	0	3,000,000	0	0	0	23,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-43,000,000	0	0	0	0	0	1,468,000,000	-388,800,000	-500,000	0	0	0	0	0	0
Other Financing Activities Margin	0.01%	0.00%	0.02%	0.02%	0.01%	-0.02%	0.87%	0.00%	0.02%	0.00%	0.00%	0.00%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	34.76%	-8.15%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Cash from Financing Activities	-1,362,000,000	-1,864,400,000	-1,767,500,000	-1,567,733,333	-1,399,550,000	-1,173,400,000	-849,876,667	-1,199,000,000	115,000,000	-3,002,000,000	-3,309,000,000	-1,927,000,000	-1,994,000,000	-2,312,000,000	-2,038,000,000	-1,347,000,000	-662,000,000	-1,320,000,000	-394,000,000	-694,000,000	-2,006,000,000	-1,427,000,000	-31,000,000	-1,075,000,000	-1,629,000,000	-1,284,000,000	-456,000,000	-233,000,000	-314,000,000	-150,000,000	151,000,000	-798,000,000	90,000,000	-252,000,000	5,187,000,000	-527,500,000	-658,800,000	-679,900,000	-435,800,000	-329,500,000	-449,100,000	-384,600,000	-572,100,000
Net Cash from Financing Activities Margin	-10.83%	-16.38%	-15.89%	-14.20%	-12.99%	-11.23%	-6.24%	-9.89%	0.95%	-23.55%	-29.70%	-19.69%	-17.65%	-20.18%	-19.32%	-13.62%	-6.30%	-11.36%	-3.50%	-6.29%	-17.96%	-15.00%	-0.39%	-10.08%	-17.27%	-13.65%	-5.35%	-3.19%	-4.85%	-2.39%	2.45%	-12.96%	1.73%	-5.97%	122.83%	-11.06%	-14.11%	-14.84%	-9.77%	-7.15%	-10.09%	-8.33%	-12.61%
Effect of FX on Cash	0	0	0	0	0	-32,560,000	-27,133,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-53,000,000	-761,000,000	0	0	0	0	0	0	0	0	0	-558,100,000	-561,700,000
Effect of FX on Cash Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-0.53%	-0.44%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.86%	-12.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-12.09%	-12.38%
Net Change in Cash	267,333,333	212,200,000	66,800,000	43,000,000	58,700,000	36,080,000	29,473,333	73,000,000	1,112,000,000	-383,000,000	-276,000,000	535,000,000	134,000,000	-244,000,000	-266,000,000	-145,000,000	128,000,000	-470,000,000	790,000,000	377,000,000	-551,000,000	-169,000,000	378,000,000	412,000,000	-321,000,000	238,000,000	-178,000,000	295,000,000	100,000,000	-20,000,000	151,000,000	-798,000,000	32,000,000	-29,000,000	-173,000,000	141,500,000	10,700,000	-23,500,000	-31,300,000	-46,400,000	-231,500,000	-384,600,000	-572,100,000
Net Change in Cash Margin	2.25%	1.95%	0.60%	0.38%	0.57%	0.24%	0.17%	0.60%	9.15%	-3.01%	-2.48%	5.47%	1.19%	-2.13%	-2.52%	-1.47%	1.22%	-4.04%	7.03%	3.41%	-4.93%	-1.78%	4.74%	3.86%	-3.40%	2.53%	-2.09%	4.03%	1.55%	-0.32%	2.45%	-12.96%	0.62%	-0.69%	-4.10%	2.97%	0.23%	-0.51%	-0.70%	-1.01%	-5.20%	-8.33%	-12.61%
Cash at Beginning of Period	954,333,333	911,600,000	872,400,000	861,266,667	751,300,000	631,520,000	538,623,333	1,568,000,000	456,000,000	839,000,000	1,115,000,000	580,000,000	446,000,000	690,000,000	956,000,000	1,101,000,000	973,000,000	1,443,000,000	653,000,000	276,000,000	827,000,000	996,000,000	618,000,000	206,000,000	527,000,000	289,000,000	467,000,000	284,000,000	184,000,000	204,000,000	53,000,000	37,000,000	5,000,000	34,000,000	207,000,000	67,700,000	57,000,000	80,500,000	111,800,000	158,200,000	389,700,000	216,200,000	226,700,000
Cash at Beginning of Period Margin	7.76%	7.84%	7.86%	7.81%	7.05%	6.10%	5.36%	12.93%	3.75%	6.58%	10.01%	5.93%	3.95%	6.02%	9.06%	11.13%	9.26%	12.41%	5.81%	2.50%	7.40%	10.47%	7.76%	1.93%	5.59%	3.07%	5.48%	3.88%	2.84%	3.25%	0.86%	0.60%	0.10%	0.81%	4.90%	1.42%	1.22%	1.76%	2.51%	3.43%	8.75%	4.68%	5.00%
Cash at End of Period	1,221,666,667	1,123,800,000	939,200,000	904,266,667	810,000,000	667,600,000	568,096,667	1,641,000,000	1,568,000,000	456,000,000	839,000,000	1,115,000,000	580,000,000	446,000,000	690,000,000	956,000,000	1,101,000,000	973,000,000	1,443,000,000	653,000,000	276,000,000	827,000,000	996,000,000	618,000,000	206,000,000	527,000,000	289,000,000	579,000,000	284,000,000	184,000,000	204,000,000	-761,000,000	37,000,000	5,000,000	34,000,000	209,200,000	67,700,000	57,000,000	80,500,000	111,800,000	158,200,000	-168,400,000	-345,400,000
Cash at End of Period Margin	10.00%	9.79%	8.46%	8.19%	7.62%	6.34%	5.54%	13.54%	12.90%	3.58%	7.53%	11.39%	5.13%	3.89%	6.54%	9.67%	10.47%	8.37%	12.83%	5.91%	2.47%	8.69%	12.50%	5.80%	2.18%	5.60%	3.39%	7.92%	4.39%	2.93%	3.31%	-12.36%	0.71%	0.12%	0.81%	4.39%	1.45%	1.24%	1.80%	2.43%	3.55%	-3.65%	-7.61%
Operating Cash Flow	3,817,666,667	3,869,000,000	3,612,700,000	3,404,200,000	3,114,100,000	2,711,840,000	2,427,036,667	4,052,000,000	3,179,000,000	4,222,000,000	4,255,000,000	3,637,000,000	3,892,000,000	3,726,000,000	3,253,000,000	3,034,000,000	2,877,000,000	2,852,000,000	3,078,000,000	3,065,000,000	3,227,000,000	2,714,000,000	1,860,000,000	2,715,000,000	2,333,000,000	2,206,000,000	2,105,000,000	1,661,000,000	1,054,000,000	803,000,000	654,000,000	1,342,000,000	533,000,000	890,000,000	1,150,000,000	1,204,700,000	1,237,400,000	1,144,300,000	874,600,000	958,200,000	762,400,000	994,700,000	1,107,200,000
Operating Cash Flow Margin	30.90%	33.61%	32.39%	30.73%	29.13%	26.67%	25.91%	33.42%	26.15%	33.13%	38.19%	37.15%	34.45%	32.52%	30.83%	30.68%	27.37%	24.54%	27.37%	27.76%	28.88%	28.52%	23.34%	25.47%	24.73%	23.45%	24.69%	22.72%	16.30%	12.81%	10.60%	21.79%	10.26%	21.09%	27.23%	25.26%	26.51%	24.98%	19.61%	20.80%	17.13%	21.54%	24.41%
Capital Expenditure	-2,226,000,000	-1,928,400,000	-1,960,700,000	-1,971,133,333	-1,798,400,000	-1,595,800,000	-1,466,170,000	-2,381,000,000	-2,349,000,000	-1,948,000,000	-1,470,000,000	-1,494,000,000	-2,019,000,000	-1,951,000,000	-1,723,000,000	-1,887,000,000	-2,385,000,000	-2,118,000,000	-1,971,000,000	-2,241,000,000	-2,160,000,000	-1,470,000,000	-1,299,000,000	-1,558,000,000	-1,341,000,000	-1,178,000,000	-1,025,000,000	-1,041,000,000	-720,000,000	-689,000,000	-746,000,000	-731,000,000	-912,000,000	-956,000,000	-875,000,000	-688,200,000	-658,900,000	-712,900,000	-669,200,000	-716,100,000	-659,400,000	-669,700,000	-651,600,000
Capital Expenditure Margin	-18.08%	-16.54%	-17.57%	-17.77%	-16.81%	-15.86%	-16.20%	-19.64%	-19.32%	-15.28%	-13.19%	-15.26%	-17.87%	-17.03%	-16.33%	-19.08%	-22.69%	-18.22%	-17.53%	-20.30%	-19.33%	-15.45%	-16.30%	-14.61%	-14.22%	-12.52%	-12.02%	-14.24%	-11.13%	-10.99%	-12.09%	-11.87%	-17.56%	-22.65%	-20.72%	-14.43%	-14.12%	-15.56%	-15.00%	-15.55%	-14.81%	-14.51%	-14.37%
Free Cash Flow	1,591,666,667	1,940,600,000	1,652,000,000	1,433,066,667	1,315,700,000	1,116,040,000	960,866,667	1,671,000,000	830,000,000	2,274,000,000	2,785,000,000	2,143,000,000	1,873,000,000	1,775,000,000	1,530,000,000	1,147,000,000	492,000,000	734,000,000	1,107,000,000	824,000,000	1,067,000,000	1,244,000,000	561,000,000	1,157,000,000	992,000,000	1,028,000,000	1,080,000,000	620,000,000	334,000,000	114,000,000	-92,000,000	611,000,000	-379,000,000	-66,000,000	275,000,000	516,500,000	578,500,000	431,400,000	205,400,000	242,100,000	103,000,000	325,000,000	455,600,000
Free Cash Flow Margin	12.82%	17.07%	14.82%	12.96%	12.32%	10.81%	9.71%	13.78%	6.83%	17.84%	25.00%	21.89%	16.58%	15.49%	14.50%	11.60%	4.68%	6.31%	9.84%	7.46%	9.55%	13.07%	7.04%	10.85%	10.52%	10.93%	12.67%	8.48%	5.16%	1.82%	-1.49%	9.92%	-7.30%	-1.56%	6.51%	10.83%	12.39%	9.42%	4.61%	5.26%	2.31%	7.04%	10.04%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,341,333,333	11,591,000,000	11,165,900,000	11,083,733,333	10,612,600,000	9,785,240,000	8,923,600,000	12,123,000,000	12,156,000,000	12,745,000,000	11,142,000,000	9,789,000,000	11,296,000,000	11,458,000,000	10,551,000,000	9,888,000,000	10,511,000,000	11,624,000,000	11,245,000,000	11,040,000,000	11,172,000,000	9,516,000,000	7,969,000,000	10,661,000,000	9,432,000,000	9,407,000,000	8,527,000,000	7,312,000,000	6,468,000,000	6,270,000,000	6,170,000,000	6,159,000,000	5,195,000,000	4,221,000,000	4,223,000,000	4,770,000,000	4,668,000,000	4,581,300,000	4,460,100,000	4,606,600,000	4,451,300,000	4,617,000,000	4,536,000,000
EBITDA	5,290,666,667	5,177,200,000	4,928,200,000	4,696,066,667	4,366,850,000	3,729,920,000	3,340,310,000	5,489,000,000	4,340,000,000	6,043,000,000	5,705,000,000	4,309,000,000	5,233,000,000	5,128,000,000	4,733,000,000	4,212,000,000	4,090,000,000	4,647,000,000	4,424,000,000	4,175,000,000	4,242,000,000	3,671,000,000	2,939,000,000	4,009,000,000	3,491,000,000	3,473,000,000	2,984,000,000	2,417,000,000	1,064,000,000	1,158,000,000	406,000,000	866,000,000	931,000,000	1,312,000,000	1,722,000,000	1,552,800,000	1,443,500,000	1,431,200,000	1,129,100,000	1,185,300,000	362,000,000	1,035,800,000	1,014,000,000
EBITDA Margin	42.80%	44.72%	44.11%	42.32%	40.91%	36.27%	35.33%	45.28%	35.70%	47.41%	51.20%	44.02%	46.33%	44.75%	44.86%	42.60%	38.91%	39.98%	39.34%	37.82%	37.97%	38.58%	36.88%	37.60%	37.01%	36.92%	34.99%	33.06%	16.45%	18.47%	6.58%	14.06%	17.92%	31.08%	40.78%	32.55%	30.92%	31.24%	25.32%	25.73%	8.13%	22.43%	22.35%
(-) Tax Adjustment	1,115,443,673	1,102,230,561	738,199,803	998,165,548	1,032,480,374	899,393,463	823,517,912	1,165,732,352	922,250,000	1,258,348,668	1,284,287,004	880,534,783	1,152,729,017	1,187,023,350	-3,443,832,481	1,491,002,324	1,483,923,014	1,681,460,753	1,574,138,280	1,527,402,103	1,456,642,906	1,350,841,149	1,065,432,799	1,507,384,000	1,206,322,307	1,166,491,928	731,493,223	703,566,052	317,747,440	403,495,751	140,227,848	270,192,000	297,071,225	333,822,485	515,909,820	553,320,411	520,576,837	520,089,075	439,652,893	430,082,577	287,129,526	377,805,506	354,959,794
(-) Tax Adjustment Margin	9.03%	9.52%	6.47%	8.95%	9.78%	8.93%	9.06%	9.62%	7.59%	9.87%	11.53%	9.00%	10.20%	10.36%	-32.64%	15.08%	14.12%	14.47%	14.00%	13.84%	13.04%	14.20%	13.37%	14.14%	12.79%	12.40%	8.58%	9.62%	4.91%	6.44%	2.27%	4.39%	5.72%	7.91%	12.22%	11.60%	11.15%	11.35%	9.86%	9.34%	6.45%	8.18%	7.83%
(-) Change In Working Capital	264,000,000	214,000,000	153,000,000	92,533,333	64,250,000	81,000,000	69,946,667	625,000,000	368,000,000	-201,000,000	147,000,000	131,000,000	-139,000,000	122,000,000	58,000,000	305,000,000	114,000,000	-251,000,000	78,000,000	5,000,000	-53,000,000	79,000,000	-200,000,000	-19,000,000	9,000,000	62,000,000	45,000,000	82,000,000	86,000,000	-84,000,000	-176,000,000	832,000,000	-48,000,000	-50,000,000	43,000,000	-17,200,000	145,600,000	18,900,000	-26,500,000	94,500,000	-60,000,000	92,200,000	102,100,000
(-) Change In Working Capital Margin	2.20%	1.85%	1.38%	0.85%	0.57%	0.92%	0.83%	5.16%	3.03%	-1.58%	1.32%	1.34%	-1.23%	1.06%	0.55%	3.08%	1.08%	-2.16%	0.69%	0.05%	-0.47%	0.83%	-2.51%	-0.18%	0.10%	0.66%	0.53%	1.12%	1.33%	-1.34%	-2.85%	13.51%	-0.92%	-1.18%	1.02%	-0.36%	3.12%	0.41%	-0.59%	2.05%	-1.35%	2.00%	2.25%
(-) Capital Expenditure	-2,226,000,000	-1,928,400,000	-1,960,700,000	-1,971,133,333	-1,798,400,000	-1,595,800,000	-1,466,170,000	-2,381,000,000	-2,349,000,000	-1,948,000,000	-1,470,000,000	-1,494,000,000	-2,019,000,000	-1,951,000,000	-1,723,000,000	-1,887,000,000	-2,385,000,000	-2,118,000,000	-1,971,000,000	-2,241,000,000	-2,160,000,000	-1,470,000,000	-1,299,000,000	-1,558,000,000	-1,341,000,000	-1,178,000,000	-1,025,000,000	-1,041,000,000	-720,000,000	-689,000,000	-746,000,000	-731,000,000	-912,000,000	-956,000,000	-875,000,000	-688,200,000	-658,900,000	-712,900,000	-669,200,000	-716,100,000	-659,400,000	-669,700,000	-651,600,000
(-) Capital Expenditure Margin	-18.08%	-16.54%	-17.57%	-17.77%	-16.81%	-15.86%	-16.20%	-19.64%	-19.32%	-15.28%	-13.19%	-15.26%	-17.87%	-17.03%	-16.33%	-19.08%	-22.69%	-18.22%	-17.53%	-20.30%	-19.33%	-15.45%	-16.30%	-14.61%	-14.22%	-12.52%	-12.02%	-14.24%	-11.13%	-10.99%	-12.09%	-11.87%	-17.56%	-22.65%	-20.72%	-14.43%	-14.12%	-15.56%	-15.00%	-15.55%	-14.81%	-14.51%	-14.37%
Unlevered Free Cash Flow	1,685,222,993	1,932,569,439	2,076,300,197	1,634,234,452	1,471,719,626	1,153,726,537	980,675,422	1,317,267,648	700,750,000	3,037,651,332	2,803,712,996	1,803,465,217	2,200,270,983	1,867,976,650	6,395,832,481	528,997,676	107,076,986	1,098,539,247	800,861,720	401,597,897	678,357,094	771,158,851	774,567,201	962,616,000	934,677,693	1,066,508,072	1,182,506,777	590,433,948	-59,747,440	149,504,249	-304,227,848	-967,192,000	-230,071,225	72,177,515	288,090,180	328,479,589	118,423,163	179,310,925	46,747,107	-55,382,577	-524,529,526	-103,905,506	-94,659,794
Unlevered Free Cash Flow Margin	13.49%	16.81%	18.68%	14.75%	13.75%	10.56%	9.25%	10.87%	5.76%	23.83%	25.16%	18.42%	19.48%	16.30%	60.62%	5.35%	1.02%	9.45%	7.12%	3.64%	6.07%	8.10%	9.72%	9.03%	9.91%	11.34%	13.87%	8.07%	-0.92%	2.38%	-4.93%	-15.70%	-4.43%	1.71%	6.82%	6.89%	2.54%	3.91%	1.05%	-1.20%	-11.78%	-2.25%	-2.09%
(-) Net Interest Income After Taxes	-584,030,215	-549,989,658	-530,244,399	-458,982,045	-404,690,977	-323,752,781	-269,793,984	-635,612,496	-568,575,000	-547,903,148	-500,575,039	-497,282,609	-470,950,444	-428,066,302	-950,191,816	-361,120,062	-342,167,076	-349,712,827	-340,772,344	-314,540,972	-292,849,897	-284,410,646	-297,705,302	-277,056,000	-259,161,377	0	-375,166,176	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	-4.74%	-4.76%	-4.76%	-4.14%	-3.78%	-3.02%	-2.52%	-5.24%	-4.68%	-4.30%	-4.49%	-5.08%	-4.17%	-3.74%	-9.01%	-3.65%	-3.26%	-3.01%	-3.03%	-2.85%	-2.62%	-2.99%	-3.74%	-2.60%	-2.75%	0.00%	-4.40%	0.00%	0.00%	0.00%	0.00%	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	1,078,000,000	945,800,000	777,100,000	637,066,667	460,250,000	337,200,000	429,100,000	-4,000,000	1,959,000,000	1,279,000,000	1,092,000,000	403,000,000	1,004,000,000	1,273,000,000	-412,000,000	94,000,000	1,083,000,000	-445,000,000	739,000,000	1,129,000,000	501,000,000	-139,000,000	403,000,000	280,000,000	-239,000,000	-339,000,000	-456,000,000	-253,000,000	-167,000,000	-91,000,000	230,000,000	-494,000,000	380,000,000	17,000,000	3,996,000,000	116,000,000	-66,000,000	-82,200,000	-53,700,000	87,500,000	411,800,000	428,900,000	10,700,000
Net Debt Issuance Margin	8.71%	8.01%	6.74%	5.56%	3.98%	2.71%	5.70%	-0.03%	16.12%	10.04%	9.80%	4.12%	8.89%	11.11%	-3.90%	0.95%	10.30%	-3.83%	6.57%	10.23%	4.48%	-1.46%	5.06%	2.63%	-2.53%	-3.60%	-5.35%	-3.46%	-2.58%	-1.45%	3.73%	-8.02%	7.31%	0.40%	94.62%	2.43%	-1.41%	-1.79%	-1.20%	1.90%	9.25%	9.29%	0.24%
Levered Free Cash Flow	3,347,253,208	3,428,359,097	3,383,644,596	2,730,283,164	2,336,660,603	1,814,679,318	1,679,569,406	1,948,880,144	3,228,325,000	4,864,554,479	4,396,288,035	2,703,747,826	3,675,221,427	3,569,042,952	6,934,024,297	984,117,738	1,532,244,062	1,003,252,074	1,880,634,064	1,845,138,869	1,472,206,991	916,569,497	1,475,272,503	1,519,672,000	954,839,070	727,508,072	1,101,672,952	337,433,948	-226,747,440	58,504,249	-74,227,848	-1,461,192,000	149,928,775	89,177,515	4,284,090,180	444,479,589	52,423,163	97,110,925	-6,952,893	32,117,423	-112,729,526	324,994,494	-83,959,794
Levered Free Cash Flow Margin	26.93%	29.58%	30.18%	24.45%	21.51%	16.29%	17.47%	16.08%	26.56%	38.17%	39.46%	27.62%	32.54%	31.15%	65.72%	9.95%	14.58%	8.63%	16.72%	16.71%	13.18%	9.63%	18.51%	14.25%	10.12%	7.73%	12.92%	4.61%	-3.51%	0.93%	-1.20%	-23.72%	2.89%	2.11%	101.45%	9.32%	1.12%	2.12%	-0.16%	0.70%	-2.53%	7.04%	-1.85%