Southern Copper Corporation (0L8B.L)

Analysis: Margins & Ratios Industry: Industrial Materials Sector: Basic Materials Live Price: $180.74

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	10,459,033,333	10,059,220,000	8,175,860,000	7,475,781,600	6,819,025,200	5,692,353,520	4,867,241,267	12,334,500,000	10,944,600,000	11,433,400,000	9,895,800,000	10,047,900,000	10,934,100,000	7,984,900,000	7,285,600,000	7,096,700,000	6,654,500,000	5,379,800,000	5,045,900,000	5,787,694,000	5,952,943,000	6,669,266,000	6,818,721,000	5,149,500,000	3,734,280,000	4,851,000,000	6,085,700,000	5,460,200,000	4,112,600,000	3,096,700,000	798,406,000	664,650,000	657,521,000	711,057,000	584,500,000	627,900,000	814,200,000	753,000,000	928,800,000
Cost of Revenue	5,603,866,667	5,258,680,000	4,596,820,000	4,089,014,200	3,639,872,700	3,047,249,120	2,596,570,933	5,785,600,000	5,699,600,000	5,748,200,000	5,576,300,000	5,487,100,000	4,743,800,000	4,738,000,000	4,400,800,000	4,112,899,999	3,952,700,000	3,721,300,000	3,487,100,000	3,360,092,000	3,318,252,000	3,142,853,000	3,088,825,000	2,456,991,000	2,170,841,000	2,546,500,000	2,490,300,000	2,317,600,000	1,937,000,000	1,542,500,000	480,746,000	450,243,000	461,109,000	449,176,000	417,300,000	447,400,000	456,500,000	394,700,000	0
Cost of Revenue Margin	53.75%	52.79%	58.00%	55.60%	53.75%	55.44%	54.57%	46.91%	52.08%	50.28%	56.35%	54.61%	43.39%	59.34%	60.40%	57.96%	59.40%	69.17%	69.11%	58.06%	55.74%	47.12%	45.30%	47.71%	58.13%	52.49%	40.92%	42.45%	47.10%	49.81%	60.21%	67.74%	70.13%	63.17%	71.39%	71.25%	56.07%	52.42%	0.00%
Gross Profit	4,855,166,667	4,800,540,000	3,579,040,000	3,386,767,400	3,179,152,500	2,645,104,400	2,270,670,333	6,548,900,000	5,245,000,000	5,685,200,000	4,319,500,000	4,560,800,000	6,190,300,000	3,246,900,000	2,884,800,000	2,983,800,000	2,701,800,000	1,658,500,000	1,558,800,000	2,427,602,000	2,634,691,000	3,526,413,000	3,729,896,000	2,692,509,000	1,563,439,000	2,304,500,000	3,595,400,000	3,142,600,000	2,175,600,000	1,554,200,000	317,660,000	214,407,000	196,412,000	261,881,000	167,200,000	180,500,000	357,700,000	358,300,000	928,800,000
Gross Profit Margin	46.25%	47.21%	42.00%	44.40%	46.25%	44.56%	45.43%	53.09%	47.92%	49.72%	43.65%	45.39%	56.61%	40.66%	39.60%	42.04%	40.60%	30.83%	30.89%	41.94%	44.26%	52.88%	54.70%	52.29%	41.87%	47.51%	59.08%	57.55%	52.90%	50.19%	39.79%	32.26%	29.87%	36.83%	28.61%	28.75%	43.93%	47.58%	100.00%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	127,566,667	126,820,000	114,800,000	109,871,067	104,817,850	91,549,760	84,314,800	132,400,000	129,000,000	130,500,000	127,200,000	125,000,000	125,200,000	126,200,000	131,800,000	102,600,000	93,100,000	87,400,000	99,000,000	103,412,000	102,579,000	101,297,000	104,473,000	88,305,000	78,291,000	102,600,000	98,000,000	88,300,000	81,100,000	71,800,000	27,247,000	27,583,000	30,904,000	34,853,000	47,500,000	49,600,000	75,600,000	68,000,000	0
SG&A Expenses Margin	1.22%	1.28%	1.46%	1.53%	1.62%	2.07%	2.87%	1.07%	1.18%	1.14%	1.29%	1.24%	1.15%	1.58%	1.81%	1.45%	1.40%	1.62%	1.96%	1.79%	1.72%	1.52%	1.53%	1.71%	2.10%	2.12%	1.61%	1.62%	1.97%	2.32%	3.41%	4.15%	4.70%	4.90%	8.13%	7.90%	9.29%	9.03%	0.00%
Operating Expenses	127,566,667	126,820,000	118,280,000	118,281,067	111,337,150	108,571,240	105,946,033	350,400,000	129,000,000	130,500,000	127,200,000	125,000,000	125,200,000	126,200,000	131,800,000	102,600,000	82,900,000	87,400,000	144,000,000	194,762,000	102,579,000	101,297,000	104,473,000	88,305,000	82,527,000	102,600,000	98,000,000	88,300,000	81,100,000	71,800,000	100,826,000	95,423,000	107,189,000	112,300,000	121,700,000	110,500,000	122,300,000	109,600,000	0
Operating Expenses Margin	1.22%	1.28%	1.54%	1.68%	1.74%	3.85%	5.47%	2.84%	1.18%	1.14%	1.29%	1.24%	1.15%	1.58%	1.81%	1.45%	1.25%	1.62%	2.85%	3.37%	1.72%	1.52%	1.53%	1.71%	2.21%	2.12%	1.61%	1.62%	1.97%	2.32%	12.63%	14.36%	16.30%	15.79%	20.82%	17.60%	15.02%	14.56%	0.00%
Operating Income (EBIT)	4,727,600,000	4,673,720,000	3,460,760,000	3,268,486,333	3,067,815,350	2,536,533,160	2,164,724,300	6,198,500,000	5,116,000,000	5,554,700,000	4,192,300,000	4,435,800,000	6,065,100,000	3,120,700,000	2,753,000,000	2,881,200,000	2,618,900,000	1,571,100,000	1,414,800,000	2,232,840,000	2,532,112,000	3,425,116,000	3,625,423,000	2,604,204,000	1,480,912,000	2,201,900,000	3,497,400,000	3,054,300,000	2,094,500,000	1,482,400,000	216,834,000	118,984,000	89,223,000	149,581,000	45,500,000	70,000,000	235,400,000	248,700,000	928,800,000
Operating Income (EBIT) Margin	45.03%	45.93%	40.46%	42.72%	44.51%	40.71%	39.95%	50.25%	46.74%	48.58%	42.36%	44.15%	55.47%	39.08%	37.79%	40.60%	39.36%	29.20%	28.04%	38.58%	42.54%	51.36%	53.17%	50.57%	39.66%	45.39%	57.47%	55.94%	50.93%	47.87%	27.16%	17.90%	13.57%	21.04%	7.78%	11.15%	28.91%	33.03%	100.00%
Interest Income	84,333,333	55,880,000	34,010,000	27,480,000	27,409,600	22,203,200	18,502,667	189,000,000	113,400,000	131,400,000	86,600,000	35,000,000	7,200,000	19,200,000	21,200,000	16,000,000	5,500,000	7,100,000	10,900,000	15,300,000	20,000,000	15,200,000	13,800,000	7,800,000	6,610,000	48,400,000	0	50,217,000	30,765,000	0	3,363,000	0	0	3,525,000	0	0	0	0	0
Interest Income Margin	0.79%	0.54%	0.36%	0.32%	0.38%	0.34%	0.29%	1.53%	1.04%	1.15%	0.88%	0.35%	0.07%	0.24%	0.29%	0.23%	0.08%	0.13%	0.22%	0.26%	0.34%	0.23%	0.20%	0.15%	0.18%	1.00%	0.00%	0.92%	0.75%	0.00%	0.42%	0.00%	0.00%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	333,633,333	344,920,000	314,990,000	266,964,133	223,334,950	185,029,160	185,364,300	364,600,000	327,800,000	334,100,000	326,700,000	340,100,000	357,100,000	366,600,000	340,700,000	277,100,000	306,000,000	290,700,000	210,800,000	138,576,000	196,605,000	172,405,000	186,489,000	160,487,000	97,637,000	99,200,000	108,500,000	85,500,000	71,400,000	95,800,000	13,165,000	18,430,000	15,757,000	15,878,000	6,400,000	0	0	0	928,800,000
Interest Expense Margin	3.20%	3.49%	4.02%	3.62%	3.21%	3.05%	5.91%	2.96%	3.00%	2.92%	3.30%	3.38%	3.27%	4.59%	4.68%	3.90%	4.60%	5.40%	4.18%	2.39%	3.30%	2.59%	2.73%	3.12%	2.61%	2.04%	1.78%	1.57%	1.74%	3.09%	1.65%	2.77%	2.40%	2.23%	1.09%	0.00%	0.00%	0.00%	100.00%
Net Interest Income	-249,300,000	-289,040,000	-280,980,000	-239,484,400	-191,799,650	-157,825,920	-131,521,600	-175,600,000	-214,400,000	-202,700,000	-240,100,000	-305,100,000	-349,900,000	-347,400,000	-319,500,000	-261,100,000	-300,500,000	-283,600,000	-199,900,000	-123,293,000	-176,620,000	-157,174,000	-172,692,000	-152,687,000	-91,027,000	-50,800,000	-26,000,000	-35,300,000	-40,600,000	-87,500,000	-9,802,000	0	0	-12,353,000	0	0	0	0	0
Net Interest Income Margin	-2.41%	-2.96%	-3.66%	-3.30%	-2.75%	-2.44%	-2.03%	-1.42%	-1.96%	-1.77%	-2.43%	-3.04%	-3.20%	-4.35%	-4.39%	-3.68%	-4.52%	-5.27%	-3.96%	-2.13%	-2.97%	-2.36%	-2.53%	-2.97%	-2.44%	-1.05%	-0.43%	-0.65%	-0.99%	-2.83%	-1.23%	0.00%	0.00%	-1.74%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	456,400,000	557,940,000	554,270,000	490,471,667	404,694,900	334,326,280	332,755,233	372,700,000	413,600,000	393,600,000	478,800,000	496,800,000	704,600,000	715,900,000	635,300,000	540,600,000	593,600,000	574,800,000	408,700,000	263,549,000	315,214,000	560,077,000	349,424,000	326,111,000	167,505,000	158,900,000	194,000,000	83,583,000	132,835,000	157,400,000	20,895,000	27,467,000	34,128,000	24,369,000	12,800,000	-10,200,000	-5,900,000	-12,000,000	1,639,800,000
Unusual Items Margin	4.41%	5.73%	7.27%	6.83%	5.90%	5.54%	10.44%	3.02%	3.78%	3.44%	4.84%	4.94%	6.44%	8.97%	8.72%	7.62%	8.92%	10.68%	8.10%	4.55%	5.30%	8.40%	5.12%	6.33%	4.49%	3.28%	3.19%	1.53%	3.23%	5.08%	2.62%	4.13%	5.19%	3.43%	2.19%	-1.62%	-0.72%	-1.59%	176.55%
EBT Excluding Unusual Items	4,064,100,000	3,846,880,000	2,633,200,000	2,527,027,133	2,454,350,900	2,030,706,560	1,666,075,467	5,628,700,000	4,503,200,000	4,970,200,000	3,474,800,000	3,747,300,000	5,005,800,000	2,036,300,000	1,801,900,000	2,061,100,000	1,732,200,000	705,100,000	797,300,000	1,829,018,000	2,078,289,000	2,462,167,000	3,099,264,000	2,104,669,000	1,236,929,000	1,934,900,000	3,217,900,000	2,922,417,000	1,869,465,000	1,263,400,000	184,846,000	82,480,000	36,724,000	113,196,000	26,300,000	90,400,000	247,200,000	272,700,000	-1,422,000,000
EBT Excluding Unusual Items Margin	38.63%	37.43%	29.59%	32.38%	35.52%	32.33%	24.69%	45.63%	41.15%	43.47%	35.11%	37.29%	45.78%	25.50%	24.73%	29.04%	26.03%	13.11%	15.80%	31.60%	34.91%	36.92%	45.45%	40.87%	33.12%	39.89%	52.88%	53.52%	45.46%	40.80%	23.15%	12.41%	5.59%	15.92%	4.50%	14.40%	30.36%	36.22%	-153.10%
Pre-Tax Income	4,520,500,000	4,404,820,000	3,187,470,000	3,017,498,800	2,859,045,800	2,365,032,840	1,998,830,700	6,001,400,000	4,916,800,000	5,363,800,000	3,953,600,000	4,244,100,000	5,710,400,000	2,752,200,000	2,437,200,000	2,601,700,000	2,325,800,000	1,279,900,000	1,206,000,000	2,092,567,000	2,393,503,000	3,022,244,000	3,448,688,000	2,430,780,000	1,404,434,000	2,093,800,000	3,411,900,000	3,006,000,000	2,002,300,000	1,420,800,000	205,741,000	109,947,000	70,852,000	137,565,000	39,100,000	80,200,000	241,300,000	260,700,000	217,800,000
Pre-Tax Income Margin	43.03%	43.16%	36.86%	39.20%	41.43%	37.88%	35.14%	48.66%	44.92%	46.91%	39.95%	42.24%	52.23%	34.47%	33.45%	36.66%	34.95%	23.79%	23.90%	36.16%	40.21%	45.32%	50.58%	47.20%	37.61%	43.16%	56.06%	55.05%	48.69%	45.88%	25.77%	16.54%	10.78%	19.35%	6.69%	12.77%	29.64%	34.62%	23.45%
Income Tax Expense	1,696,733,333	1,712,760,000	1,312,200,000	1,179,948,600	1,079,124,500	888,317,920	745,968,267	2,168,699,999	1,877,200,000	1,975,200,000	1,518,900,000	1,596,100,000	2,299,200,000	1,174,400,000	945,300,000	1,053,500,000	1,593,400,000	501,100,000	464,900,000	754,629,000	769,322,000	1,080,872,000	1,104,335,000	868,071,000	469,861,000	679,300,000	1,185,300,000	959,100,000	589,700,000	433,700,000	84,969,000	39,999,000	22,142,000	44,648,000	9,700,000	25,600,000	55,600,000	80,200,000	0
Income Tax Expense Margin	16.17%	16.85%	15.45%	15.32%	15.39%	13.92%	12.38%	17.58%	17.15%	17.28%	15.35%	15.88%	21.03%	14.71%	12.97%	14.84%	23.94%	9.31%	9.21%	13.04%	12.92%	16.21%	16.20%	16.86%	12.58%	14.00%	19.48%	17.57%	14.34%	14.01%	10.64%	6.02%	3.37%	6.28%	1.66%	4.08%	6.83%	10.65%	0.00%
Net Income	2,813,466,667	2,681,580,000	1,867,810,000	1,830,313,133	1,772,238,900	1,469,980,560	1,247,250,467	3,820,900,000	3,027,900,000	3,376,700,000	2,425,200,000	2,638,500,000	3,397,100,000	1,570,400,000	1,485,800,000	1,543,000,000	728,500,000	776,500,000	736,400,000	1,332,973,000	1,618,517,000	1,934,632,000	2,336,424,000	1,554,051,000	929,381,000	1,406,600,000	2,216,400,000	2,037,600,000	1,400,100,000	982,400,000	122,313,000	60,555,000	46,551,000	92,917,000	29,400,000	54,600,000	185,700,000	180,500,000	217,800,000
Net Income Margin	26.77%	26.21%	21.31%	23.79%	25.92%	23.79%	22.62%	30.98%	27.67%	29.53%	24.51%	26.26%	31.07%	19.67%	20.39%	21.74%	10.95%	14.43%	14.59%	23.03%	27.19%	29.01%	34.26%	30.18%	24.89%	29.00%	36.42%	37.32%	34.04%	31.72%	15.32%	9.11%	7.08%	13.07%	5.03%	8.70%	22.81%	23.97%	23.45%
Depreciation and Amortization	825,266,667	811,480,000	736,000,000	609,193,333	534,153,250	442,238,760	352,278,967	852,000,000	839,900,000	845,900,000	833,600,000	796,300,000	806,000,000	775,600,000	764,400,000	674,300,000	689,000,000	664,200,000	510,700,000	445,000,000	395,900,000	325,700,000	288,100,000	323,200,000	322,590,000	327,302,000	327,898,000	275,062,000	292,313,000	77,753,000	73,579,000	67,840,000	76,285,000	77,447,000	74,200,000	60,900,000	46,700,000	41,600,000	-711,000,000
Depreciation and Amortization Margin	7.92%	8.17%	9.36%	8.22%	7.81%	8.03%	5.26%	6.91%	7.67%	7.40%	8.42%	7.93%	7.37%	9.71%	10.49%	9.50%	10.35%	12.35%	10.12%	7.69%	6.65%	4.88%	4.23%	6.28%	8.64%	6.75%	5.39%	5.04%	7.11%	2.51%	9.22%	10.21%	11.60%	10.89%	12.69%	9.70%	5.74%	5.52%	-76.55%
EBITDA	5,679,266,667	5,557,140,000	4,229,080,000	3,882,862,533	3,607,684,950	2,989,307,240	2,549,787,567	7,207,500,000	6,068,200,000	6,537,500,000	5,116,100,000	5,384,200,000	6,859,900,000	3,888,000,000	3,531,600,000	3,540,800,000	3,297,700,000	2,210,900,000	1,924,100,000	2,665,353,000	2,973,273,000	3,475,690,000	3,923,315,000	2,914,507,000	1,824,661,000	2,520,300,000	3,848,300,000	3,366,600,000	2,350,900,000	1,709,200,000	290,413,000	186,833,000	165,508,000	227,028,000	119,746,000	131,200,000	284,000,000	297,200,000	928,800,000
EBITDA Margin	54.15%	54.78%	50.10%	50.89%	52.31%	48.92%	47.96%	58.43%	55.44%	57.18%	51.70%	53.59%	62.74%	48.69%	48.47%	49.89%	49.56%	41.10%	38.13%	46.05%	49.95%	52.12%	57.54%	56.60%	48.86%	51.95%	63.24%	61.66%	57.16%	55.19%	36.37%	28.11%	25.17%	31.93%	20.49%	20.90%	34.88%	39.47%	100.00%
NOPAT	2,952,834,686	2,854,129,209	2,032,048,021	1,987,013,301	1,905,901,279	1,580,531,045	1,362,576,511	3,958,574,825	3,162,746,827	3,509,201,764	2,581,695,875	2,767,606,418	3,623,085,794	1,789,056,195	1,685,212,826	1,714,522,751	824,697,893	955,990,843	869,409,851	1,427,625,249	1,718,238,164	2,200,161,304	2,464,494,117	1,674,200,474	985,464,871	1,487,528,680	2,282,397,151	2,079,789,311	1,477,646,057	1,029,896,565	127,283,701	75,697,316	61,339,868	101,033,095	34,212,276	47,655,860	181,159,470	172,191,600	928,800,000
NOPAT Margin	28.11%	27.97%	23.45%	25.98%	27.92%	25.70%	26.70%	32.09%	28.90%	30.69%	26.09%	27.54%	33.14%	22.41%	23.13%	24.16%	12.39%	17.77%	17.23%	24.67%	28.86%	32.99%	36.14%	32.51%	26.39%	30.66%	37.50%	38.09%	35.93%	33.26%	15.94%	11.39%	9.33%	14.21%	5.85%	7.59%	22.25%	22.87%	100.00%
Owner's Earnings	2,643,933,333	2,599,280,000	1,641,370,000	1,441,559,800	1,449,248,600	1,202,857,240	981,267,700	3,534,900,000	2,820,400,000	3,195,300,000	2,250,200,000	2,486,300,000	3,310,800,000	1,753,800,000	1,542,700,000	1,095,900,000	376,100,000	305,100,000	97,500,000	243,273,000	311,117,000	1,208,432,000	1,978,324,000	1,468,551,000	837,149,000	1,217,248,000	2,228,557,000	1,856,844,000	1,221,777,000	888,465,000	146,058,000	51,529,000	-38,212,000	38,619,000	-146,700,000	-143,200,000	48,400,000	101,300,000	-493,200,000
Owner's Earnings Margin	25.14%	25.53%	17.75%	17.51%	20.52%	18.59%	12.77%	28.66%	25.77%	27.95%	22.74%	24.74%	30.28%	21.96%	21.17%	15.44%	5.65%	5.67%	1.93%	4.20%	5.23%	18.12%	29.01%	28.52%	22.42%	25.09%	36.62%	34.01%	29.71%	28.69%	18.29%	7.75%	-5.81%	5.43%	-25.10%	-22.81%	5.94%	13.45%	-53.10%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y 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
Revenue	10,459,033,333	10,059,220,000	8,175,860,000	7,475,781,600	6,819,025,200	5,692,353,520	11,433,400,000	9,895,800,000	10,047,900,000	10,934,100,000	7,984,900,000	7,285,600,000	7,096,700,000	6,654,500,000	5,379,800,000	5,045,900,000	5,787,694,000	5,952,943,000	6,669,266,000	6,818,721,000	5,149,500,000	3,734,280,000	4,851,000,000	6,085,700,000	5,460,200,000	4,112,600,000	3,096,700,000	798,406,000	664,650,000	657,521,000	711,057,000	584,500,000	627,900,000	814,200,000	753,000,000
Cash & Cash Equivalents	2,159,766,667	2,332,980,000	1,625,990,000	1,588,973,333	1,431,584,950	1,199,307,280	3,258,100,000	1,151,500,000	2,069,700,000	3,002,000,000	2,183,600,000	1,925,100,000	844,600,000	1,004,800,000	546,000,000	274,500,000	401,700,000	1,672,700,000	2,459,500,000	848,100,000	2,192,700,000	772,306,000	716,740,000	1,409,272,000	1,022,778,000	876,003,000	546,029,000	295,472,000	147,537,000	212,857,000	149,088,000	10,600,000	175,900,000	126,500,000	173,200,000
Cash & Cash Equivalents Margin	20.24%	23.11%	18.45%	20.77%	20.51%	21.61%	28.50%	11.64%	20.60%	27.46%	27.35%	26.42%	11.90%	15.10%	10.15%	5.44%	6.94%	28.10%	36.88%	12.44%	42.58%	20.68%	14.78%	23.16%	18.73%	21.30%	17.63%	37.01%	22.20%	32.37%	20.97%	1.81%	28.01%	15.54%	23.00%
Short-Term Investments	350,966,667	390,120,000	295,040,000	281,986,667	235,651,350	190,331,760	245,300,000	599,300,000	208,300,000	486,900,000	410,800,000	80,700,000	213,800,000	50,500,000	51,300,000	603,500,000	338,600,000	208,300,000	134,300,000	522,000,000	76,200,000	22,948,000	62,376,000	117,903,000	280,000,000	0	45,267,000	0	0	0	0	0	0	0	0
Short-Term Investments Margin	3.42%	3.97%	3.77%	3.88%	3.36%	2.74%	2.15%	6.06%	2.07%	4.45%	5.14%	1.11%	3.01%	0.76%	0.95%	11.96%	5.85%	3.50%	2.01%	7.66%	1.48%	0.61%	1.29%	1.94%	5.13%	0.00%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	2,510,733,333	2,723,100,000	1,921,030,000	1,870,960,000	1,667,236,300	1,389,639,040	3,503,400,000	1,750,800,000	2,278,000,000	3,488,900,000	2,594,400,000	2,005,800,000	1,058,400,000	1,055,300,000	597,300,000	878,000,000	740,300,000	1,881,000,000	2,593,800,000	1,370,100,000	2,268,900,000	795,254,000	779,116,000	1,527,175,000	1,302,778,000	876,003,000	591,296,000	295,472,000	147,537,000	212,857,000	149,088,000	10,600,000	175,900,000	126,500,000	173,200,000
Cash & Short-Term Investments Margin	23.67%	27.08%	22.22%	24.64%	23.86%	24.36%	30.64%	17.69%	22.67%	31.91%	32.49%	27.53%	14.91%	15.86%	11.10%	17.40%	12.79%	31.60%	38.89%	20.09%	44.06%	21.30%	16.06%	25.09%	23.86%	21.30%	19.09%	37.01%	22.20%	32.37%	20.97%	1.81%	28.01%	15.54%	23.00%
Net Receivables	1,315,300,000	1,305,820,000	1,060,960,000	947,523,800	811,884,850	683,510,920	1,243,800,000	1,228,300,000	1,473,800,000	1,446,600,000	1,136,600,000	911,800,000	972,600,000	976,400,000	668,500,000	551,200,000	621,900,000	597,778,000	751,969,000	883,581,000	748,029,000	435,588,000	133,588,000	462,778,000	606,426,000	386,460,000	474,224,000	89,238,000	60,345,000	83,812,000	142,457,000	80,600,000	64,500,000	73,800,000	89,600,000
Net Receivables Margin	12.65%	13.08%	12.97%	12.61%	11.59%	12.00%	10.88%	12.41%	14.67%	13.23%	14.23%	12.52%	13.70%	14.67%	12.43%	10.92%	10.75%	10.04%	11.28%	12.96%	14.53%	11.66%	2.75%	7.60%	11.11%	9.40%	15.31%	11.18%	9.08%	12.75%	20.03%	13.79%	10.27%	9.06%	11.90%
Inventory	1,026,566,667	1,000,560,000	1,001,350,000	887,526,667	773,919,950	638,394,880	1,048,900,000	1,016,900,000	1,013,900,000	972,900,000	950,200,000	1,068,500,000	1,032,700,000	1,041,900,000	1,010,400,000	857,200,000	766,000,000	693,900,000	682,700,000	651,900,000	504,900,000	456,122,000	451,597,000	448,283,000	413,652,000	395,845,000	96,940,000	76,692,000	91,880,000	101,030,000	114,931,000	110,200,000	89,000,000	108,700,000	118,700,000
Inventory Margin	9.85%	10.07%	13.10%	12.37%	11.58%	11.59%	9.17%	10.28%	10.09%	8.90%	11.90%	14.67%	14.55%	15.66%	18.78%	16.99%	13.23%	11.66%	10.24%	9.56%	9.80%	12.21%	9.31%	7.37%	7.58%	9.63%	3.13%	9.61%	13.82%	15.37%	16.16%	18.85%	14.17%	13.35%	15.76%
Other Current Assets	38,000,000	35,340,000	38,020,000	100,591,200	107,920,150	101,612,240	31,500,000	38,100,000	44,400,000	33,500,000	29,200,000	26,200,000	93,800,000	11,000,000	40,500,000	32,000,000	101,900,000	307,919,000	342,091,000	195,653,000	181,105,000	86,803,000	189,392,000	197,273,000	120,021,000	56,046,000	330,871,000	4,972,000	4,552,000	6,137,000	35,371,000	67,700,000	80,700,000	252,600,000	21,600,000
Other Current Assets Margin	0.37%	0.35%	0.50%	1.56%	1.82%	2.18%	0.28%	0.39%	0.44%	0.31%	0.37%	0.36%	1.32%	0.17%	0.75%	0.63%	1.76%	5.17%	5.13%	2.87%	3.52%	2.32%	3.90%	3.24%	2.20%	1.36%	10.68%	0.62%	0.68%	0.93%	4.97%	11.58%	12.85%	31.02%	2.87%
Total Current Assets	5,263,833,333	5,349,260,000	4,233,180,000	3,947,620,000	3,466,943,100	2,880,309,200	6,174,300,000	4,429,500,000	5,187,700,000	6,139,600,000	4,815,200,000	4,184,700,000	3,180,800,000	3,170,100,000	2,566,100,000	2,483,800,000	2,411,700,000	3,411,100,000	4,287,900,000	3,082,700,000	3,689,100,000	1,778,129,000	1,553,693,000	2,635,509,000	2,442,877,000	1,714,354,000	1,013,553,000	475,951,000	310,872,000	426,645,000	441,847,000	269,100,000	410,100,000	561,600,000	403,100,000
Total Current Assets Margin	50.13%	53.37%	51.37%	52.92%	50.16%	50.77%	54.00%	44.76%	51.63%	56.15%	60.30%	57.44%	44.82%	47.64%	47.70%	49.22%	41.67%	57.30%	64.29%	45.21%	71.64%	47.62%	32.03%	43.31%	44.74%	41.69%	32.73%	59.61%	46.77%	64.89%	62.14%	46.04%	65.31%	68.98%	53.53%
Property, Plant & Equipment	10,543,033,333	10,489,500,000	9,839,760,000	8,398,787,133	7,209,393,550	6,091,939,040	10,622,800,000	10,558,300,000	10,448,000,000	10,380,700,000	10,437,700,000	10,417,400,000	9,403,800,000	9,099,600,000	8,766,500,000	8,262,799,999	7,436,430,000	6,476,168,000	5,156,731,000	4,419,885,000	4,094,993,000	3,969,558,000	3,803,800,000	3,568,311,000	3,538,295,000	3,326,100,000	3,068,500,000	1,118,202,000	1,248,996,000	1,376,777,000	1,298,130,000	1,250,900,000	1,088,600,000	947,500,000	855,800,000
Property, Plant & Equipment Margin	101.20%	105.85%	126.82%	115.14%	105.81%	117.41%	92.91%	106.69%	103.98%	94.94%	130.72%	142.99%	132.51%	136.74%	162.95%	163.75%	128.49%	108.79%	77.32%	64.82%	79.52%	106.30%	78.41%	58.63%	64.80%	80.88%	99.09%	140.05%	187.92%	209.39%	182.56%	214.01%	173.37%	116.37%	113.65%
Goodwill	41,900,000	41,900,000	41,850,000	33,566,667	26,025,000	20,820,000	41,900,000	41,900,000	41,900,000	41,900,000	41,900,000	41,900,000	41,900,000	41,900,000	41,900,000	41,400,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	17,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	0.40%	0.42%	0.55%	0.46%	0.37%	0.30%	0.37%	0.42%	0.42%	0.38%	0.52%	0.58%	0.59%	0.63%	0.78%	0.82%	0.29%	0.29%	0.25%	0.25%	0.33%	0.46%	0.00%	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	87,933,333	92,220,000	101,000,000	111,058,867	133,559,600	120,851,960	82,700,000	88,300,000	92,800,000	96,200,000	101,100,000	106,500,000	105,800,000	110,600,000	112,300,000	113,700,000	92,872,000	93,219,000	92,300,000	216,421,000	161,071,000	204,100,000	253,300,000	115,802,000	118,107,000	314,000,000	241,100,000	109,007,000	0	0	0	0	0	0	0
Intangible Assets Margin	0.85%	0.94%	1.36%	1.63%	2.34%	2.73%	0.72%	0.89%	0.92%	0.88%	1.27%	1.46%	1.49%	1.66%	2.09%	2.25%	1.60%	1.57%	1.38%	3.17%	3.13%	5.47%	5.22%	1.90%	2.16%	7.64%	7.79%	13.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	110,300,000	112,120,000	103,940,000	80,686,400	60,514,800	48,411,840	111,900,000	108,200,000	110,800,000	115,400,000	114,300,000	111,900,000	103,600,000	99,700,000	87,500,000	76,100,000	66,700,000	57,142,000	47,054,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	1.06%	1.13%	1.33%	1.07%	0.81%	0.64%	0.98%	1.09%	1.10%	1.06%	1.43%	1.54%	1.46%	1.50%	1.63%	1.51%	1.15%	0.96%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	268,000,000	270,040,000	324,420,000	290,706,467	225,546,100	180,436,880	310,600,000	256,100,000	237,300,000	316,200,000	230,000,000	183,900,000	203,700,000	164,900,000	727,300,000	614,200,000	540,600,000	180,707,000	205,939,000	145,251,000	43,900,000	52,670,000	83,106,000	0	14,549,000	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	2.56%	2.69%	4.70%	4.36%	3.44%	2.75%	2.72%	2.59%	2.36%	2.89%	2.88%	2.52%	2.87%	2.48%	13.52%	12.17%	9.34%	3.04%	3.09%	2.13%	0.85%	1.41%	1.71%	0.00%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	1,257,066,667	1,237,020,000	1,182,180,000	962,550,200	791,917,050	671,942,280	1,369,300,000	1,243,000,000	1,158,900,000	1,207,600,000	1,206,300,000	1,361,100,000	1,248,800,000	1,093,300,000	932,700,000	1,000,800,000	867,800,000	755,743,000	563,375,000	291,769,000	137,766,000	148,375,000	201,958,000	260,936,000	262,586,000	526,233,000	491,670,000	227,592,000	192,378,000	17,995,000	30,581,000	25,500,000	27,100,000	34,200,000	20,900,000
Other Non-Current Assets Margin	12.02%	12.44%	15.21%	13.01%	11.26%	12.22%	11.98%	12.56%	11.53%	11.04%	15.11%	18.68%	17.60%	16.43%	17.34%	19.83%	14.99%	12.70%	8.45%	4.28%	2.68%	3.97%	4.16%	4.29%	4.81%	12.80%	15.88%	28.51%	28.94%	2.74%	4.30%	4.36%	4.32%	4.20%	2.78%
Other Assets	0	0	0	4,000	3,000	2,400	0	0	0	0	0	0	0	0	0	0	0	-13,000	31,000	42,000	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%
Total Non-Current Assets	12,308,233,333	12,242,800,000	11,593,150,000	9,866,352,733	8,417,108,550	7,105,819,240	12,539,200,000	12,295,800,000	12,089,700,000	12,158,000,000	12,131,300,000	12,222,700,000	11,107,600,000	10,610,000,000	10,668,200,000	10,109,000,000	9,035,100,000	7,579,992,000	6,082,368,000	4,977,320,000	4,389,011,000	4,284,443,000	4,210,631,000	3,945,049,000	3,933,537,000	3,973,220,000	3,683,652,000	1,454,801,000	1,441,374,000	1,394,772,000	1,328,711,000	1,276,400,000	1,115,700,000	981,700,000	876,700,000
Total Non-Current Assets Margin	118.08%	123.47%	149.97%	135.51%	123.38%	135.39%	109.67%	124.25%	120.32%	111.19%	151.93%	167.77%	156.52%	159.44%	198.30%	200.34%	156.11%	127.33%	91.20%	72.99%	85.23%	114.73%	86.80%	64.82%	72.04%	96.61%	118.95%	182.21%	216.86%	212.13%	186.86%	218.37%	177.69%	120.57%	116.43%
Total Assets	17,572,066,667	17,592,060,000	15,842,690,000	13,834,786,667	11,899,662,100	9,914,613,800	18,713,500,000	16,725,300,000	17,277,400,000	18,297,600,000	16,946,500,000	16,407,400,000	14,484,800,000	13,770,600,000	13,276,600,000	12,527,200,000	11,308,800,000	11,129,800,000	10,383,700,000	8,073,800,000	8,198,800,000	6,062,572,000	5,764,324,000	6,580,558,000	6,376,414,000	5,687,574,000	2,597,130,000	1,930,752,000	1,752,246,000	1,821,417,000	1,770,558,000	1,545,500,000	1,525,800,000	1,543,300,000	1,279,800,000
Total Assets Margin	168.21%	176.84%	201.55%	188.75%	173.78%	183.64%	163.67%	169.01%	171.95%	167.34%	212.23%	225.20%	204.11%	206.94%	246.79%	248.26%	195.39%	186.96%	155.69%	118.41%	159.22%	162.35%	118.83%	108.13%	116.78%	138.30%	83.87%	241.83%	263.63%	277.01%	249.00%	264.41%	243.00%	189.55%	169.96%
Accounts Payable	641,800,000	622,380,000	627,420,000	586,114,800	514,976,400	426,133,920	615,200,000	652,600,000	657,600,000	591,900,000	594,600,000	598,300,000	673,400,000	659,800,000	584,200,000	646,600,000	546,900,000	493,263,000	475,566,000	443,132,000	558,661,000	283,344,000	413,351,000	255,070,000	271,064,000	284,977,000	142,362,000	48,322,000	39,377,000	55,602,000	68,157,000	58,400,000	48,500,000	47,900,000	33,800,000
Accounts Payable Margin	6.17%	6.28%	8.27%	8.33%	7.85%	7.67%	5.38%	6.59%	6.54%	5.41%	7.45%	8.21%	9.49%	9.92%	10.86%	12.81%	9.45%	8.29%	7.13%	6.50%	10.85%	7.59%	8.52%	4.19%	4.96%	6.93%	4.60%	6.05%	5.92%	8.46%	9.59%	9.99%	7.72%	5.88%	4.49%
Short-Term Debt	166,600,000	159,900,000	119,930,000	95,286,667	81,465,000	79,554,680	499,800,000	0	0	299,700,000	0	399,800,000	0	0	0	0	200,000,000	0	10,000,000	10,000,000	10,000,000	10,000,000	10,000,000	160,000,000	10,000,000	10,000,000	152,314,000	60,000,000	0	122,914,000	24,339,000	23,300,000	13,700,000	13,700,000	23,700,000
Short-Term Debt Margin	1.46%	1.42%	1.26%	1.10%	1.00%	2.19%	4.37%	0.00%	0.00%	2.74%	0.00%	5.49%	0.00%	0.00%	0.00%	0.00%	3.46%	0.00%	0.15%	0.15%	0.19%	0.27%	0.21%	2.63%	0.18%	0.24%	4.92%	7.51%	0.00%	18.69%	3.42%	3.99%	2.18%	1.68%	3.15%
Tax Payables	350,533,333	443,000,000	301,790,000	14,531,633,333	10,903,292,950	18,345,234,360	635,200,000	278,300,000	138,100,000	832,600,000	330,800,000	116,300,000	232,800,000	226,400,000	188,100,000	39,300,000	102,700,000	214,393,000,000	12,200,000	182,500,000	266,200,000	91,359,000	0	0	0	0	240,565,000,000	0	0	0	0	0	0	0	0
Tax Payables Margin	3.25%	4.30%	3.41%	243.02%	182.39%	456.65%	5.56%	2.81%	1.37%	7.61%	4.14%	1.60%	3.28%	3.40%	3.50%	0.78%	1.77%	3,601.46%	0.18%	2.68%	5.17%	2.45%	0.00%	0.00%	0.00%	0.00%	7,768.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
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%
Other Current Liabilities	33,333	20,000	-330,000	4,906,667	9,560,800	14,533,240	100,000	0	0	0	0	0	0	0	100,000	-3,500,000	0	-84,000	-35,000	0	77,019,000	66,670,000	0	3,870,000	40,721,000	6,355,000	109,024,000	25,192,000	0	-1,985,000	39,884,000	29,500,000	34,800,000	23,500,000	47,800,000
Other Current Liabilities Margin	0.00%	0.00%	-0.01%	0.10%	0.21%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.07%	0.00%	0.00%	0.00%	0.00%	1.50%	1.79%	0.00%	0.06%	0.75%	0.15%	3.52%	3.16%	0.00%	-0.30%	5.61%	5.05%	5.54%	2.89%	6.35%
Total Current Liabilities	1,624,100,000	1,701,420,000	1,428,400,000	1,277,093,333	1,153,934,000	967,258,040	2,248,100,000	1,388,500,000	1,235,700,000	2,250,000,000	1,384,800,000	1,476,500,000	1,216,300,000	1,168,300,000	999,100,000	916,700,000	1,178,600,000	783,500,000	857,100,000	954,700,000	1,098,500,000	602,424,000	737,463,000	927,190,000	859,571,000	795,632,000	461,447,000	187,197,000	100,794,000	220,953,000	132,380,000	111,200,000	97,000,000	85,100,000	105,300,000
Total Current Liabilities Margin	15.33%	16.78%	17.56%	17.15%	16.95%	17.79%	19.66%	14.03%	12.30%	20.58%	17.34%	20.27%	17.14%	17.56%	18.57%	18.17%	20.36%	13.16%	12.85%	14.00%	21.33%	16.13%	15.20%	15.24%	15.74%	19.35%	14.90%	23.45%	15.16%	33.60%	18.62%	19.02%	15.45%	10.45%	13.98%
Long-Term Debt	6,088,100,000	6,211,280,000	6,142,030,000	5,286,407,400	4,290,813,250	3,527,134,400	5,758,500,000	6,254,600,000	6,251,200,000	6,247,900,000	6,544,200,000	6,541,000,000	5,960,100,000	5,957,100,000	5,954,200,000	5,951,500,000	3,980,900,000	4,204,915,000	4,203,863,000	2,735,732,000	2,750,401,000	1,270,252,000	1,279,972,000	1,289,754,000	1,518,111,000	1,162,065,000	1,177,974,000	289,043,000	299,043,000	273,121,000	322,914,000	199,300,000	220,500,000	234,200,000	82,900,000
Long-Term Debt Margin	58.59%	62.98%	80.68%	73.52%	62.02%	57.86%	50.37%	63.20%	62.21%	57.14%	81.96%	89.78%	83.98%	89.52%	110.68%	117.95%	68.78%	70.64%	63.03%	40.12%	53.41%	34.02%	26.39%	21.19%	27.80%	28.26%	38.04%	36.20%	44.99%	41.54%	45.41%	34.10%	35.12%	28.76%	11.01%
Capital Lease Obligations	762,966,667	807,940,000	501,750,000	334,500,000	250,875,000	200,700,000	739,400,000	775,400,000	774,100,000	842,400,000	908,400,000	977,800,000	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	7.34%	8.22%	5.45%	3.63%	2.73%	2.18%	6.47%	7.84%	7.70%	7.70%	11.38%	13.42%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	139,300,000	139,120,000	152,870,000	153,746,667	166,256,100	152,941,840	124,500,000	132,200,000	161,200,000	118,300,000	159,400,000	178,300,000	223,100,000	55,600,000	204,800,000	171,300,000	91,200,000	164,300,000	141,400,000	174,500,000	206,100,000	176,231,000	169,342,000	219,501,000	194,759,000	259,089,000	116,277,000	110,075,000	88,566,000	88,615,000	94,891,000	79,900,000	56,700,000	44,800,000	49,400,000
Deferred Tax Liabilities Margin	1.34%	1.42%	2.07%	2.25%	2.77%	4.53%	1.09%	1.34%	1.60%	1.08%	2.00%	2.45%	3.14%	0.84%	3.81%	3.39%	1.58%	2.76%	2.12%	2.56%	4.00%	4.72%	3.49%	3.61%	3.57%	6.30%	3.75%	13.79%	13.33%	13.48%	13.35%	13.67%	9.03%	5.50%	6.56%
Other Non-Current Liabilities	722,100,000	694,240,000	552,040,000	449,957,333	380,947,200	308,594,240	686,600,000	771,400,000	708,300,000	631,200,000	673,700,000	375,600,000	498,400,000	505,300,000	247,600,000	422,300,000	287,600,000	200,835,000	392,225,000	110,600,000	237,700,000	152,733,000	182,148,000	279,308,000	123,379,000	132,016,000	30,494,000	21,121,000	14,792,000	15,252,000	14,253,000	15,200,000	26,700,000	62,200,000	4,800,000
Other Non-Current Liabilities Margin	6.95%	7.01%	6.78%	5.88%	5.31%	4.65%	6.01%	7.80%	7.05%	5.77%	8.44%	5.16%	7.02%	7.59%	4.60%	8.37%	4.97%	3.37%	5.88%	1.62%	4.62%	4.09%	3.75%	4.59%	2.26%	3.21%	0.98%	2.65%	2.23%	2.32%	2.00%	2.60%	4.25%	7.64%	0.64%
Total Non-Current Liabilities	7,659,200,000	7,820,620,000	7,300,220,000	6,206,313,333	5,075,168,000	4,141,541,840	7,227,200,000	7,855,600,000	7,894,800,000	7,839,800,000	8,285,700,000	8,072,700,000	6,655,600,000	6,452,900,000	6,406,600,000	6,311,300,000	4,293,600,000	4,784,400,000	4,737,500,000	3,082,800,000	3,194,200,000	1,599,216,000	1,631,462,000	1,788,563,000	1,836,249,000	1,553,170,000	403,500,000	420,239,000	402,401,000	376,988,000	432,058,000	294,400,000	303,900,000	341,200,000	137,100,000
Total Non-Current Liabilities Margin	73.72%	79.33%	94.24%	85.01%	72.62%	67.87%	63.21%	79.38%	78.57%	71.70%	103.77%	110.80%	93.78%	96.97%	119.09%	125.08%	74.18%	80.37%	71.03%	45.21%	62.03%	42.83%	33.63%	29.39%	33.63%	37.77%	13.03%	52.63%	60.54%	57.33%	60.76%	50.37%	48.40%	41.91%	18.21%
Total Liabilities	9,283,300,000	9,522,040,000	8,728,620,000	7,483,406,667	6,229,102,000	5,108,799,880	9,475,300,000	9,244,100,000	9,130,500,000	10,089,800,000	9,670,500,000	9,549,200,000	7,871,900,000	7,621,200,000	7,405,700,000	7,228,000,000	5,472,200,000	5,567,900,000	5,594,600,000	4,037,500,000	4,292,700,000	2,201,640,000	2,368,925,000	2,715,753,000	2,695,820,000	2,348,802,000	864,947,000	607,436,000	503,195,000	597,941,000	564,438,000	405,600,000	400,900,000	426,300,000	242,400,000
Total Liabilities Margin	89.05%	96.11%	111.80%	102.17%	89.57%	85.66%	82.87%	93.41%	90.87%	92.28%	121.11%	131.07%	110.92%	114.53%	137.66%	143.25%	94.55%	93.53%	83.89%	59.21%	83.36%	58.96%	48.83%	44.63%	49.37%	57.11%	27.93%	76.08%	75.71%	90.94%	79.38%	69.39%	63.85%	52.36%	32.19%
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
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%
Common Stock	8,800,000	8,800,000	8,800,000	8,812,267	7,862,400	6,477,200	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,800,000	8,846,000	8,846,000	8,846,000	8,846,000	8,846,000	8,846,000	2,949,000	2,949,000	1,474,000	1,474,000	802,000	802,000	802,000	802,000	800,000	800,000	0	0
Common Stock Margin	0.08%	0.09%	0.12%	0.13%	0.12%	0.12%	0.08%	0.09%	0.09%	0.08%	0.11%	0.12%	0.12%	0.13%	0.16%	0.17%	0.15%	0.15%	0.13%	0.13%	0.17%	0.24%	0.18%	0.05%	0.05%	0.04%	0.05%	0.10%	0.12%	0.12%	0.11%	0.14%	0.13%	0.00%	0.00%
Retained Earnings	7,191,800,000	7,238,300,000	6,480,760,000	5,489,827,200	4,880,668,900	4,119,335,880	6,839,600,000	7,033,500,000	7,702,300,000	7,769,700,000	6,846,400,000	6,435,600,000	6,186,900,000	5,726,200,000	5,455,300,000	4,812,100,000	4,346,818,000	3,394,827,000	2,350,126,000	3,852,054,000	3,595,983,000	3,469,930,000	2,916,517,000	3,220,857,000	3,010,307,000	2,648,359,000	1,458,941,000	1,053,528,000	979,649,000	947,830,000	930,071,000	864,400,000	847,200,000	833,600,000	749,300,000
Retained Earnings Margin	69.18%	72.87%	82.27%	74.43%	72.09%	81.73%	59.82%	71.08%	76.66%	71.06%	85.74%	88.33%	87.18%	86.05%	101.40%	95.37%	75.10%	57.03%	35.24%	56.49%	69.83%	92.92%	60.12%	52.93%	55.13%	64.40%	47.11%	131.95%	147.39%	144.15%	130.80%	147.89%	134.93%	102.38%	99.51%
Accumulated OCI	-6,400,000	-7,400,000	-5,030,000	-9,918,533	-12,364,600	-9,891,680	-2,200,000	-8,000,000	-9,000,000	-9,400,000	-8,400,000	-10,100,000	-2,400,000	500,000	-2,400,000	1,100,000	4,800,000	6,239,000	4,032,000	12,874,000	-126,423,000	-13,061,000	-23,477,000	-26,554,000	-22,332,000	-13,090,000	0	0	0	0	0	0	0	0	0
Accumulated OCI Margin	-0.06%	-0.08%	-0.06%	-0.17%	-0.23%	-0.18%	-0.02%	-0.08%	-0.09%	-0.09%	-0.11%	-0.14%	-0.03%	0.01%	-0.04%	0.02%	0.08%	0.10%	0.06%	0.19%	-2.46%	-0.35%	-0.48%	-0.44%	-0.41%	-0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	64,133,333	60,440,000	51,210,000	42,493,333	35,646,050	30,731,200	66,600,000	63,100,000	62,700,000	58,600,000	51,200,000	47,900,000	45,400,000	41,700,000	38,600,000	36,300,000	32,100,000	28,200,000	24,000,000	21,000,000	20,000,000	18,012,000	14,140,000	16,685,000	13,989,000	12,695,000	11,284,000	7,913,000	7,676,000	14,021,000	14,465,000	14,000,000	16,300,000	19,400,000	22,400,000
Minority Interest Margin	0.61%	0.60%	0.64%	0.56%	0.50%	0.67%	0.58%	0.64%	0.62%	0.54%	0.64%	0.66%	0.64%	0.63%	0.72%	0.72%	0.55%	0.47%	0.36%	0.31%	0.39%	0.48%	0.29%	0.27%	0.26%	0.31%	0.36%	0.99%	1.15%	2.13%	2.03%	2.40%	2.60%	2.38%	2.97%
Total Shareholders’ Equity	8,224,633,333	8,009,580,000	7,062,860,000	6,308,886,667	5,634,914,050	4,775,082,720	9,171,600,000	7,418,100,000	8,084,200,000	8,149,200,000	7,224,800,000	6,810,300,000	6,567,500,000	6,107,700,000	5,832,300,000	5,262,900,000	5,804,500,000	5,533,700,000	4,765,100,000	4,015,300,000	3,886,100,000	3,842,920,000	3,381,259,000	3,848,120,000	3,666,605,000	3,326,077,000	1,720,899,000	1,315,403,000	1,241,375,000	1,209,455,000	1,191,655,000	1,125,900,000	1,108,600,000	1,097,600,000	1,015,000,000
Total Shareholders’ Equity Margin	78.55%	80.13%	89.12%	86.01%	83.70%	97.31%	80.22%	74.96%	80.46%	74.53%	90.48%	93.48%	92.54%	91.78%	108.41%	104.30%	100.29%	92.96%	71.45%	58.89%	75.47%	102.91%	69.70%	63.23%	67.15%	80.88%	55.57%	164.75%	186.77%	183.94%	167.59%	192.63%	176.56%	134.81%	134.79%
Total Equity	8,288,766,667	8,070,020,000	7,114,070,000	6,351,380,000	5,670,560,100	4,805,813,920	9,238,200,000	7,481,200,000	8,146,900,000	8,207,800,000	7,276,000,000	6,858,200,000	6,612,900,000	6,149,400,000	5,870,900,000	5,299,200,000	5,836,600,000	5,561,900,000	4,789,100,000	4,036,300,000	3,906,100,000	3,860,932,000	3,395,399,000	3,864,805,000	3,680,594,000	3,338,772,000	1,732,183,000	1,323,316,000	1,249,051,000	1,223,476,000	1,206,120,000	1,139,900,000	1,124,900,000	1,117,000,000	1,037,400,000
Total Equity Margin	79.16%	80.73%	89.75%	86.58%	84.21%	97.98%	80.80%	75.60%	81.08%	75.07%	91.12%	94.13%	93.18%	92.41%	109.13%	105.02%	100.84%	93.43%	71.81%	59.19%	75.85%	103.39%	69.99%	63.51%	67.41%	81.18%	55.94%	165.74%	187.93%	186.07%	169.62%	195.02%	179.15%	137.19%	137.77%
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
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%
Total Investments	461,266,667	502,240,000	398,980,000	362,668,400	296,162,650	238,740,800	357,200,000	707,500,000	319,100,000	602,300,000	525,100,000	192,600,000	317,400,000	150,200,000	138,800,000	679,600,000	405,300,000	265,410,000	181,352,000	521,955,000	76,209,000	22,948,000	62,376,000	117,903,000	280,000,000	0	45,267,000	0	0	0	0	0	0	0	0
Total Investments Margin	4.48%	5.11%	5.10%	4.95%	4.16%	3.39%	3.12%	7.15%	3.18%	5.51%	6.58%	2.64%	4.47%	2.26%	2.58%	13.47%	7.00%	4.46%	2.72%	7.65%	1.48%	0.61%	1.29%	1.94%	5.13%	0.00%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt	4,883,666,667	4,890,500,000	5,166,760,000	4,149,095,533	3,207,974,400	2,614,619,560	3,739,600,000	5,878,500,000	5,032,900,000	4,461,900,000	5,339,600,000	6,062,100,000	5,115,500,000	4,952,300,000	5,408,200,000	5,677,000,000	3,816,900,000	2,532,220,000	1,754,375,000	1,897,614,000	567,724,000	507,946,000	573,232,000	40,482,000	505,333,000	296,062,000	619,581,000	53,571,000	151,506,000	183,178,000	198,165,000	212,000,000	58,300,000	121,400,000	-66,600,000
Net Debt Margin	47.40%	49.98%	69.26%	57.75%	45.44%	40.56%	32.71%	59.40%	50.09%	40.81%	66.87%	83.21%	72.08%	74.42%	100.53%	112.51%	65.95%	42.54%	26.31%	27.83%	11.02%	13.60%	11.82%	0.67%	9.25%	7.20%	20.01%	6.71%	22.79%	27.86%	27.87%	36.27%	9.28%	14.91%	-8.84%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y 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
Revenue	10,459,033,333	10,059,220,000	8,175,860,000	7,475,781,600	6,819,025,200	5,692,353,520	11,433,400,000	9,895,800,000	10,047,900,000	10,934,100,000	7,984,900,000	7,285,600,000	7,096,700,000	6,654,500,000	5,379,800,000	5,045,900,000	5,787,694,000	5,952,943,000	6,669,266,000	6,818,721,000	5,149,500,000	3,734,280,000	4,851,000,000	6,085,700,000	5,460,200,000	4,112,600,000	3,096,700,000	798,406,000	664,650,000	657,521,000	711,057,000	584,500,000	627,900,000	814,200,000	753,000,000
Working Capital	3,639,733,333	3,647,840,000	2,804,780,000	2,670,526,667	2,313,009,100	1,913,051,160	3,926,200,000	3,041,000,000	3,952,000,000	3,889,600,000	3,430,400,000	2,708,200,000	1,964,500,000	2,001,800,000	1,567,000,000	1,567,100,000	1,233,100,000	2,627,600,000	3,430,800,000	2,128,000,000	2,590,600,000	1,175,705,000	816,230,000	1,708,319,000	1,583,306,000	918,722,000	552,106,000	288,754,000	210,078,000	205,692,000	309,467,000	157,900,000	313,100,000	476,500,000	297,800,000
Working Capital Margin	34.80%	36.59%	33.81%	35.76%	33.21%	32.98%	34.34%	30.73%	39.33%	35.57%	42.96%	37.17%	27.68%	30.08%	29.13%	31.06%	21.31%	44.14%	51.44%	31.21%	50.31%	31.48%	16.83%	28.07%	29.00%	22.34%	17.83%	36.17%	31.61%	31.28%	43.52%	27.01%	49.86%	58.52%	39.55%
Total Capital	15,268,066,667	15,233,060,000	13,855,610,000	12,044,440,733	10,272,587,300	8,594,087,800	16,169,300,000	14,448,100,000	15,186,800,000	15,613,100,000	14,748,000,000	14,797,500,000	12,527,600,000	12,064,800,000	11,786,500,000	11,214,400,000	9,985,400,000	9,738,615,000	8,978,963,000	6,761,032,000	6,646,501,000	5,123,172,000	4,671,231,000	5,297,874,000	5,194,716,000	4,498,142,000	3,051,187,000	1,664,446,000	1,540,418,000	1,605,490,000	1,538,908,000	1,348,500,000	1,342,800,000	1,345,500,000	1,121,600,000
Total Capital Margin	146.19%	153.21%	176.83%	164.49%	149.62%	159.67%	141.42%	146.00%	151.14%	142.79%	184.70%	203.11%	176.53%	181.30%	219.09%	222.25%	172.53%	163.59%	134.63%	99.15%	129.07%	137.19%	96.29%	87.05%	95.14%	109.37%	98.53%	208.47%	231.76%	244.17%	216.43%	230.71%	213.86%	165.25%	148.95%
Capital Employed	15,947,966,667	15,890,640,000	14,414,290,000	12,557,693,333	10,745,728,100	8,947,355,760	16,465,400,000	15,336,800,000	16,041,700,000	16,047,600,000	15,561,700,000	14,930,900,000	13,268,500,000	12,602,300,000	12,277,500,000	11,610,500,000	10,130,200,000	10,346,300,000	9,526,600,000	7,119,100,000	7,100,300,000	5,460,148,000	5,026,861,000	5,653,368,000	5,516,843,000	4,891,942,000	2,135,683,000	1,743,555,000	1,651,452,000	1,600,464,000	1,638,178,000	1,434,300,000	1,428,800,000	1,458,200,000	1,174,500,000
Capital Employed Margin	152.88%	160.06%	183.99%	171.59%	156.83%	165.85%	144.01%	154.98%	159.65%	146.77%	194.89%	204.94%	186.97%	189.38%	228.21%	230.10%	175.03%	173.80%	142.84%	104.41%	137.88%	146.22%	103.63%	92.90%	101.04%	118.95%	68.97%	218.38%	248.47%	243.41%	230.39%	245.39%	227.55%	179.10%	155.98%
Invested Capital	13,108,300,000	12,900,080,000	12,229,620,000	10,455,467,400	8,841,002,350	7,394,780,520	12,911,200,000	13,296,600,000	13,117,100,000	12,611,100,000	12,564,400,000	12,872,400,000	11,683,000,000	11,060,000,000	11,240,500,000	10,939,900,000	9,583,700,000	8,065,915,000	6,519,463,000	5,912,932,000	4,453,801,000	4,350,866,000	3,954,491,000	3,888,602,000	4,171,938,000	3,622,139,000	2,505,158,000	1,368,974,000	1,392,881,000	1,392,633,000	1,389,820,000	1,337,900,000	1,166,900,000	1,219,000,000	948,400,000
Invested Capital Margin	125.95%	130.11%	158.38%	143.72%	129.11%	138.06%	112.93%	134.37%	130.55%	115.34%	157.35%	176.68%	164.63%	166.20%	208.94%	216.81%	165.59%	135.49%	97.75%	86.72%	86.49%	116.51%	81.52%	63.90%	76.41%	88.07%	80.90%	171.46%	209.57%	211.80%	195.46%	228.90%	185.84%	149.72%	125.95%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y 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
Revenue	10,459,033,333	10,059,220,000	8,175,860,000	7,475,781,600	6,819,025,200	5,692,353,520	11,433,400,000	9,895,800,000	10,047,900,000	10,934,100,000	7,984,900,000	7,285,600,000	7,096,700,000	6,654,500,000	5,379,800,000	5,045,900,000	5,787,694,000	5,952,943,000	6,669,266,000	6,818,721,000	5,149,500,000	3,734,280,000	4,851,000,000	6,085,700,000	5,460,200,000	4,112,600,000	3,096,700,000	798,406,000	664,650,000	657,521,000	711,057,000	584,500,000	627,900,000	814,200,000	753,000,000
Net Income	2,820,600,000	2,690,160,000	1,874,320,000	1,836,913,333	1,777,191,600	1,458,394,360	3,388,600,000	2,425,200,000	2,648,000,000	3,411,200,000	1,577,800,000	1,491,900,000	1,548,200,000	732,400,000	778,800,000	741,100,000	1,337,900,000	1,624,200,000	1,941,400,000	2,344,300,000	1,562,700,000	929,381,000	1,406,593,000	2,216,370,000	2,037,640,000	1,400,148,000	596,773,000	119,231,000	60,555,000	46,551,000	92,917,000	29,400,000	54,600,000	185,700,000	180,500,000
Net Income Margin	26.83%	26.29%	21.39%	23.88%	25.99%	23.33%	29.64%	24.51%	26.35%	31.20%	19.76%	20.48%	21.82%	11.01%	14.48%	14.69%	23.12%	27.28%	29.11%	34.38%	30.35%	24.89%	29.00%	36.42%	37.32%	34.05%	19.27%	14.93%	9.11%	7.08%	13.07%	5.03%	8.70%	22.81%	23.97%
Depreciation & Amortization	825,266,667	811,480,000	732,500,000	606,860,000	532,403,250	440,838,760	845,900,000	833,600,000	796,300,000	806,000,000	775,600,000	764,400,000	674,300,000	671,100,000	647,100,000	510,700,000	445,000,000	395,900,000	325,700,000	288,100,000	323,200,000	322,590,000	327,302,000	327,898,000	275,062,000	292,313,000	77,753,000	73,579,000	67,840,000	76,285,000	77,447,000	74,200,000	60,900,000	46,700,000	41,600,000
Depreciation & Amortization Margin	7.92%	8.17%	9.31%	8.19%	7.79%	8.01%	7.40%	8.42%	7.93%	7.37%	9.71%	10.49%	9.50%	10.08%	12.03%	10.12%	7.69%	6.65%	4.88%	4.23%	6.28%	8.64%	6.75%	5.39%	5.04%	7.11%	2.51%	9.22%	10.21%	11.60%	10.89%	12.69%	9.70%	5.74%	5.52%
Deferred Income Tax	2,000,000	-36,760,000	11,610,000	-21,156,867	-19,280,100	-13,601,440	-52,200,000	-59,100,000	117,300,000	-126,300,000	-63,500,000	-21,000,000	-50,400,000	641,500,000	-117,000,000	-153,200,000	-233,700,000	-97,188,000	55,807,000	-117,946,000	-40,426,000	41,231,000	-100,115,000	66,596,000	-33,693,000	-42,268,000	6,250,000	23,602,000	3,920,000	-3,253,000	15,047,000	21,800,000	14,400,000	-7,300,000	12,000,000
Deferred Income Tax Margin	0.04%	-0.37%	0.16%	-0.38%	-0.36%	-0.08%	-0.46%	-0.60%	1.17%	-1.16%	-0.80%	-0.29%	-0.71%	9.64%	-2.17%	-3.04%	-4.04%	-1.63%	0.84%	-1.73%	-0.79%	1.10%	-2.06%	1.09%	-0.62%	-1.03%	0.20%	2.96%	0.59%	-0.49%	2.12%	3.73%	2.29%	-0.90%	1.59%
Stock-Based Compensation	533,333	840,000	890,000	853,333	640,000	512,000	0	0	1,600,000	1,300,000	1,300,000	1,300,000	600,000	600,000	1,200,000	1,000,000	600,000	600,000	2,700,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	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%	0.00%
Change in Working Capital	-96,733,333	76,820,000	-64,540,000	-80,773,333	-74,490,700	-51,675,680	238,700,000	310,000,000	-838,900,000	190,700,000	483,600,000	-347,000,000	22,600,000	-101,500,000	-393,800,000	-209,800,000	-129,900,000	-59,100,000	3,200,000	-421,600,000	41,200,000	-286,404,000	61,881,000	35,728,000	-178,470,000	89,051,000	61,025,000	14,326,000	50,372,000	75,985,000	-3,786,000	-35,100,000	37,700,000	18,600,000	-56,500,000
Change in Working Capital Margin	-1.04%	0.93%	-1.28%	-1.42%	-1.41%	-0.24%	2.09%	3.13%	-8.35%	1.74%	6.06%	-4.76%	0.32%	-1.53%	-7.32%	-4.16%	-2.24%	-0.99%	0.05%	-6.18%	0.80%	-7.67%	1.28%	0.59%	-3.27%	2.17%	1.97%	1.79%	7.58%	11.56%	-0.53%	-6.01%	6.00%	2.28%	-7.50%
Accounts Receivable	56,366,667	-71,340,000	-64,930,000	-65,238,800	-63,910,650	-51,128,520	-48,500,000	253,000,000	-35,400,000	-289,800,000	-236,000,000	-10,500,000	68,300,000	-298,700,000	-143,300,000	91,600,000	-7,019,000	136,107,000	-14,739,000	-135,552,000	-308,079,000	-299,631,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	0.59%	-0.77%	-0.83%	-0.96%	-1.12%	-0.90%	-0.42%	2.56%	-0.35%	-2.65%	-2.96%	-0.14%	0.96%	-4.49%	-2.66%	1.82%	-0.12%	2.29%	-0.22%	-1.99%	-5.98%	-8.02%	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%
Inventory	-41,400,000	20,820,000	-84,550,000	-112,190,800	-89,330,400	-70,935,120	-56,100,000	-60,400,000	-7,700,000	4,700,000	223,600,000	-88,700,000	-190,800,000	-201,900,000	-207,900,000	-260,300,000	-260,063,000	-143,575,000	-180,684,000	-204,225,000	-48,815,000	-4,525,000	-3,314,000	-34,632,000	-17,807,000	-43,468,000	-20,249,000	15,188,000	9,151,000	13,900,000	-4,760,000	-21,200,000	19,700,000	10,000,000	-15,000,000
Inventory Margin	-0.39%	0.33%	-1.43%	-1.86%	-1.50%	-1.04%	-0.49%	-0.61%	-0.08%	0.04%	2.80%	-1.22%	-2.69%	-3.03%	-3.86%	-5.16%	-4.49%	-2.41%	-2.71%	-3.00%	-0.95%	-0.12%	-0.07%	-0.57%	-0.33%	-1.06%	-0.65%	1.90%	1.38%	2.11%	-0.67%	-3.63%	3.14%	1.23%	-1.99%
Accounts Payable	-60,066,667	138,340,000	112,570,000	112,049,000	79,568,700	63,654,960	385,700,000	152,100,000	-718,000,000	558,200,000	313,700,000	-184,900,000	116,700,000	500,600,000	30,500,000	-28,900,000	109,338,000	-53,911,000	164,461,000	-184,385,000	519,532,000	-89,361,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	-0.75%	1.36%	1.34%	1.62%	1.09%	0.87%	3.37%	1.54%	-7.15%	5.11%	3.93%	-2.54%	1.64%	7.52%	0.57%	-0.57%	1.89%	-0.91%	2.47%	-2.70%	10.09%	-2.39%	0.00%	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	-51,633,333	-11,000,000	-27,630,000	-15,392,733	-818,350	6,733,000	-42,400,000	-34,700,000	-77,800,000	-82,400,000	182,300,000	-62,900,000	28,400,000	-101,500,000	-73,100,000	-12,200,000	27,844,000	2,279,000	34,162,000	102,562,000	-121,438,000	107,113,000	65,195,000	70,360,000	-160,663,000	132,519,000	81,274,000	-862,000	41,221,000	62,085,000	974,000	-13,900,000	18,000,000	8,600,000	-41,500,000
Other Working Capital Margin	-0.50%	0.01%	-0.36%	-0.23%	0.11%	0.82%	-0.37%	-0.35%	-0.77%	-0.75%	2.28%	-0.86%	0.40%	-1.53%	-1.36%	-0.24%	0.48%	0.04%	0.51%	1.50%	-2.36%	2.87%	1.34%	1.16%	-2.94%	3.22%	2.62%	-0.11%	6.20%	9.44%	0.14%	-2.38%	2.87%	1.06%	-5.51%
Other Non-Cash Items	47,433,333	32,080,000	92,950,000	22,380,000	12,900,150	6,273,360	700,000	63,400,000	78,200,000	9,500,000	8,600,000	22,300,000	714,700,000	33,100,000	8,000,000	-9,000,000	-59,500,000	-94,100,000	-271,700,000	-140,600,000	-27,900,000	-2,389,000	54,569,000	-46,423,000	11,595,000	-95,049,000	-24,504,000	-39,752,000	-41,041,000	2,159,000	1,969,000	0	3,500,000	29,200,000	-17,400,000
Other Non-Cash Items Margin	0.48%	0.32%	1.25%	0.21%	0.07%	-0.40%	0.01%	0.64%	0.78%	0.09%	0.11%	0.31%	10.07%	0.50%	0.15%	-0.18%	-1.03%	-1.58%	-4.07%	-2.06%	-0.54%	-0.06%	1.12%	-0.76%	0.21%	-2.31%	-0.79%	-4.98%	-6.17%	0.33%	0.28%	0.00%	0.56%	3.59%	-2.31%
Net Cash from Operating Activities	3,599,100,000	3,574,620,000	2,579,960,000	2,332,953,333	2,204,255,300	1,820,682,080	4,421,700,000	3,573,100,000	2,802,500,000	4,292,400,000	2,783,400,000	1,911,900,000	2,235,100,000	1,976,600,000	923,100,000	879,800,000	1,359,800,000	1,866,900,000	1,998,600,000	2,070,200,000	1,899,200,000	963,178,000	1,720,594,000	2,703,456,000	2,059,383,000	1,644,195,000	717,297,000	190,986,000	141,646,000	198,423,000	183,594,000	90,300,000	181,400,000	277,600,000	158,800,000
Net Cash from Operating Activities Margin	34.22%	35.36%	29.88%	30.06%	31.71%	30.35%	38.67%	36.11%	27.89%	39.26%	34.86%	26.24%	31.49%	29.70%	17.16%	17.44%	23.49%	31.36%	29.97%	30.36%	36.88%	25.79%	35.47%	44.42%	37.72%	39.98%	23.16%	23.92%	21.31%	30.18%	25.82%	15.45%	28.89%	34.09%	21.09%
Capital Expenditures (PPE)	-994,800,000	-893,780,000	-958,940,000	-995,613,333	-855,393,550	-707,962,080	-1,027,300,000	-1,008,600,000	-948,500,000	-892,300,000	-592,200,000	-707,500,000	-1,121,400,000	-1,023,500,000	-1,118,500,000	-1,149,600,000	-1,534,700,000	-1,703,300,000	-1,051,900,000	-646,200,000	-408,700,000	-414,822,000	-516,654,000	-315,741,000	-455,818,000	-470,636,000	-171,688,000	-49,834,000	-76,866,000	-161,048,000	-131,745,000	-250,300,000	-258,700,000	-184,000,000	-120,800,000
Capital Expenditures (PPE) Margin	-9.54%	-8.84%	-12.87%	-14.47%	-13.19%	-13.20%	-8.99%	-10.19%	-9.44%	-8.16%	-7.42%	-9.71%	-15.80%	-15.38%	-20.79%	-22.78%	-26.52%	-28.61%	-15.77%	-9.48%	-7.94%	-11.11%	-10.65%	-5.19%	-8.35%	-11.44%	-5.54%	-6.24%	-11.56%	-24.49%	-18.53%	-42.82%	-41.20%	-22.60%	-16.04%
Acquisitions (Net)	0	296,900,000	228,270,000	138,399,800	103,799,850	83,039,880	0	0	0	892,300,000	592,200,000	707,500,000	0	61,300,000	129,800,000	-100,400,000	-311,229,000	0	152,441,000	-33,276,000	-14,639,000	0	0	0	0	0	0	0	0	0	0	600,000	0	49,900,000	0
Acquisitions (Net) Margin	0.00%	3.12%	2.66%	1.52%	1.14%	0.91%	0.00%	0.00%	0.00%	8.16%	7.42%	9.71%	0.00%	0.92%	2.41%	-1.99%	-5.38%	0.00%	2.29%	-0.49%	-0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.00%	6.13%	0.00%
Purchases of Investments	-635,566,667	-802,020,000	-506,100,000	-394,629,400	-320,867,200	-259,470,120	-611,800,000	-808,700,000	-486,200,000	-1,653,100,000	-450,300,000	-284,400,000	-310,600,000	-61,300,000	-129,800,000	-264,800,000	-130,300,000	-74,000,000	-152,441,000	-449,500,000	-52,200,000	0	0	-217,903,000	-280,000,000	0	-69,409,000	0	0	0	0	-55,000,000	-40,900,000	-204,600,000	0
Purchases of Investments Margin	-6.12%	-7.82%	-5.60%	-4.62%	-3.90%	-3.21%	-5.35%	-8.17%	-4.84%	-15.12%	-5.64%	-3.90%	-4.38%	-0.92%	-2.41%	-5.25%	-2.25%	-1.24%	-2.29%	-6.59%	-1.01%	0.00%	0.00%	-3.58%	-5.13%	0.00%	-2.24%	0.00%	0.00%	0.00%	0.00%	-9.41%	-6.51%	-25.13%	0.00%
Sales / Maturities of Investments	716,066,667	769,080,000	537,100,000	410,824,267	329,199,900	264,352,800	965,800,000	417,700,000	764,700,000	1,577,000,000	120,200,000	133,100,000	147,300,000	1,000,000	552,100,000	692,100,000	306,328,000	0	387,700,000	82,663,000	14,673,000	43,781,000	45,188,000	287,398,000	0	45,267,000	24,142,000	55,000	0	83,000	542,000	77,100,000	228,800,000	1,000,000	41,500,000
Sales / Maturities of Investments Margin	6.76%	7.24%	6.41%	5.11%	4.23%	3.42%	8.45%	4.22%	7.61%	14.42%	1.51%	1.83%	2.08%	0.02%	10.26%	13.72%	5.29%	0.00%	5.81%	1.21%	0.28%	1.17%	0.93%	4.72%	0.00%	1.10%	0.78%	0.01%	0.00%	0.01%	0.08%	13.19%	36.44%	0.12%	5.51%
Other Investing Activities	1,466,667	-295,620,000	-243,270,000	-162,154,667	-117,457,650	-93,957,080	0	1,200,000	3,200,000	-896,800,000	-585,700,000	-422,700,000	-11,500,000	3,500,000	114,400,000	-638,300,000	9,801,000	17,700,000	1,000,000	-36,787,000	8,666,000	11,755,000	60,613,000	267,000	10,532,000	0	0	0	226,000	0	0	100,000	100,000	100,000	-100,000
Other Investing Activities Margin	0.01%	-3.10%	-3.19%	-2.12%	-1.50%	-1.20%	0.00%	0.01%	0.03%	-8.20%	-7.34%	-5.80%	-0.16%	0.05%	2.13%	-12.65%	0.17%	0.30%	0.01%	-0.54%	0.17%	0.31%	1.25%	0.00%	0.19%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.02%	0.02%	0.01%	-0.01%
Net Cash from Investing Activities	-912,833,333	-925,440,000	-942,940,000	-1,003,173,333	-860,718,650	-713,996,600	-673,300,000	-1,398,400,000	-666,800,000	-972,900,000	-915,800,000	-574,000,000	-1,296,200,000	-1,019,000,000	-452,000,000	-1,461,000,000	-1,660,100,000	-1,759,600,000	-663,200,000	-1,083,100,000	-452,200,000	-359,286,000	-410,853,000	-245,979,000	-725,286,000	-425,369,000	-216,955,000	-49,779,000	-76,640,000	-160,965,000	-131,203,000	-227,500,000	-70,700,000	-337,600,000	-79,400,000
Net Cash from Investing Activities Margin	-8.89%	-9.40%	-12.58%	-14.58%	-13.22%	-13.29%	-5.89%	-14.13%	-6.64%	-8.90%	-11.47%	-7.88%	-18.26%	-15.31%	-8.40%	-28.95%	-28.68%	-29.56%	-9.94%	-15.88%	-8.78%	-9.62%	-8.47%	-4.04%	-13.28%	-10.34%	-7.01%	-6.23%	-11.53%	-24.48%	-18.45%	-38.92%	-11.26%	-41.46%	-10.54%
Net Debt Issuance	-100,000,000	-140,000,000	206,710,000	332,598,600	246,912,800	188,954,480	0	0	-300,000,000	0	-400,000,000	987,300,000	0	0	0	1,779,800,000	0	-10,000,000	1,467,455,000	-15,250,000	1,479,674,000	-10,000,000	-160,000,000	-78,600,000	356,100,000	-158,223,000	-340,912,000	50,000,000	-96,992,000	48,782,000	124,728,000	-11,700,000	-13,700,000	141,300,000	12,700,000
Net Debt Issuance Margin	-1.00%	-1.60%	4.08%	6.08%	4.45%	3.78%	0.00%	0.00%	-2.99%	0.00%	-5.01%	13.55%	0.00%	0.00%	0.00%	35.27%	0.00%	-0.17%	22.00%	-0.22%	28.73%	-0.27%	-3.30%	-1.29%	6.52%	-3.85%	-11.01%	6.26%	-14.59%	7.42%	17.54%	-2.00%	-2.18%	17.35%	1.69%
Long-Term Debt Issuance	-100,000,000	-140,000,000	206,710,000	332,598,600	246,911,550	188,953,960	0	0	-300,000,000	0	-400,000,000	987,300,000	0	0	0	1,779,800,000	0	-10,000,000	1,467,455,000	-15,250,000	1,479,674,000	-10,000,000	-160,025,000	-78,600,000	356,100,000	-158,223,000	-340,900,000	50,000,000	-96,992,000	48,782,000	124,728,000	-11,700,000	-13,700,000	141,300,000	12,700,000
Long-Term Debt Issuance Margin	-1.00%	-1.60%	4.08%	6.08%	4.45%	3.78%	0.00%	0.00%	-2.99%	0.00%	-5.01%	13.55%	0.00%	0.00%	0.00%	35.27%	0.00%	-0.17%	22.00%	-0.22%	28.73%	-0.27%	-3.30%	-1.29%	6.52%	-3.85%	-11.01%	6.26%	-14.59%	7.42%	17.54%	-2.00%	-2.18%	17.35%	1.69%
Short-Term Debt Issuance	0	0	0	0	1,250	520	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	25,000	0	0	0	-12,000	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%
Net Stock Issuance	0	0	-107,610,000	-164,113,133	-137,136,600	-106,457,600	0	0	0	0	0	0	0	0	-71,700,000	-1,004,400,000	-682,700,000	-281,400,000	-147,344,000	-273,690,000	-463,000	-71,903,000	-168,218,000	0	-3,200,000	-37,714,000	-1,319,000	93,719,000	-8,745,000	-851,000	-1,512,000	-3,200,000	-6,500,000	-10,600,000	-7,900,000
Net Stock Issuance Margin	0.00%	0.00%	-2.12%	-2.93%	-2.52%	-1.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.33%	-19.91%	-11.80%	-4.73%	-2.21%	-4.01%	-0.01%	-1.93%	-3.47%	0.00%	-0.06%	-0.92%	-0.04%	11.74%	-1.32%	-0.13%	-0.21%	-0.55%	-1.04%	-1.30%	-1.05%
Common Stock Issuance	0	0	0	0	0	3,748,760	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	93,719,000	0	0	0	200,000	0	0	0
Common Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	11.74%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%
Common Stock Repurchased	0	0	-107,610,000	-164,115,600	-147,800,350	-118,758,400	0	0	0	0	0	0	0	0	-71,700,000	-1,004,400,000	-682,700,000	-281,400,000	-147,344,000	-273,690,000	-500,000	-71,903,000	-384,656,000	0	0	-37,714,000	-1,319,000	-526,000	-8,745,000	-851,000	-1,512,000	-3,400,000	-6,500,000	-10,600,000	-7,900,000
Common Stock Repurchased Margin	0.00%	0.00%	-2.12%	-2.93%	-2.74%	-2.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.33%	-19.91%	-11.80%	-4.73%	-2.21%	-4.01%	-0.01%	-1.93%	-7.93%	0.00%	0.00%	-0.92%	-0.04%	-0.07%	-1.32%	-0.13%	-0.21%	-0.58%	-1.04%	-1.30%	-1.05%
Preferred Stock 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
Preferred Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-2,478,466,667	-2,213,760,000	-1,429,110,000	-1,321,820,000	-1,313,969,000	-1,063,743,120	-1,637,200,000	-3,092,400,000	-2,705,800,000	-2,473,800,000	-1,159,600,000	-1,273,400,000	-1,082,300,000	-456,100,000	-139,300,000	-271,200,000	-381,000,000	-573,800,000	-3,140,000,000	-6,900,000	-1,434,500,000	-375,969,000	-1,710,813,000	-2,002,312,000	-1,509,099,000	-853,887,000	-191,360,000	-45,352,000	-21,494,000	-28,792,000	-27,200,000	-12,200,000	-41,700,000	-103,600,000	-122,000,000
Net Dividends Paid Margin	-24.17%	-21.93%	-15.72%	-16.56%	-18.75%	-15.94%	-14.32%	-31.25%	-26.93%	-22.62%	-14.52%	-17.48%	-15.25%	-6.85%	-2.59%	-5.37%	-6.58%	-9.64%	-47.08%	-0.10%	-27.86%	-10.07%	-35.27%	-32.90%	-27.64%	-20.76%	-6.18%	-5.68%	-3.23%	-4.38%	-3.83%	-2.09%	-6.64%	-12.72%	-16.20%
Common Dividends Paid	-2,478,466,667	-2,213,760,000	-1,429,110,000	-1,459,614,800	-1,417,314,550	-1,146,421,160	-1,637,200,000	-3,092,400,000	-2,705,800,000	-2,473,800,000	-1,159,600,000	-1,273,400,000	-1,082,300,000	-456,100,000	-139,300,000	-271,200,000	-381,000,000	-573,800,000	-3,139,971,000	-2,080,353,000	-1,427,998,000	-375,969,000	-1,710,813,000	-2,002,300,000	-1,509,100,000	-853,887,000	-191,400,000	-45,352,000	-21,494,000	-28,792,000	-27,200,000	-12,200,000	-41,700,000	-103,600,000	-122,000,000
Common Dividends Paid Margin	-24.17%	-21.93%	-15.72%	-18.58%	-20.27%	-17.15%	-14.32%	-31.25%	-26.93%	-22.62%	-14.52%	-17.48%	-15.25%	-6.85%	-2.59%	-5.37%	-6.58%	-9.64%	-47.08%	-30.51%	-27.73%	-10.07%	-35.27%	-32.90%	-27.64%	-20.76%	-6.18%	-5.68%	-3.23%	-4.38%	-3.83%	-2.09%	-6.64%	-12.72%	-16.20%
Preferred Dividends Paid	0	0	0	0	650	2,120	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	13,000	0	0	0	40,000	0	0	0	0	0	0	0	0
Preferred Dividends Paid Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	-7,333,333	-6,420,000	-2,100,000	137,047,933	101,259,700	77,290,440	-8,000,000	-8,800,000	-5,200,000	-6,400,000	-3,700,000	23,900,000	-1,100,000	0	300,000	-12,000,000	-800,000	-129,000	2,097,958,000	-5,707,000	-14,603,000	-151,000	-8,982,000	-7,447,000	-8,170,000	-5,775,000	-7,018,000	-94,564,000	6,939,000	8,829,000	-7,119,000	-200,000	2,400,000	-15,300,000	-10,100,000
Other Financing Activities Margin	-0.07%	-0.06%	-0.02%	2.06%	1.51%	0.78%	-0.07%	-0.09%	-0.05%	-0.06%	-0.05%	0.33%	-0.02%	0.00%	0.01%	-0.24%	-0.01%	0.00%	31.46%	-0.08%	-0.28%	0.00%	-0.19%	-0.12%	-0.15%	-0.14%	-0.23%	-11.84%	1.04%	1.34%	-1.00%	-0.03%	0.38%	-1.88%	-1.34%
Net Cash from Financing Activities	-2,585,800,000	-2,360,140,000	-1,332,090,000	-1,153,653,333	-1,205,958,750	-975,543,240	-1,645,200,000	-3,101,200,000	-3,011,000,000	-2,480,200,000	-1,563,100,000	-262,200,000	-1,083,400,000	-456,100,000	-210,700,000	492,200,000	-1,063,400,000	-860,200,000	278,100,000	-2,375,000,000	36,600,000	-458,023,000	-2,048,036,000	-2,088,347,000	-1,164,370,000	-1,055,599,000	-258,378,000	3,803,000	-131,696,000	27,968,000	88,897,000	-27,300,000	-59,500,000	11,800,000	-127,600,000
Net Cash from Financing Activities Margin	-25.23%	-23.59%	-13.78%	-13.37%	-16.82%	-13.89%	-14.39%	-31.34%	-29.97%	-22.68%	-19.58%	-3.60%	-15.27%	-6.85%	-3.92%	9.75%	-18.37%	-14.45%	4.17%	-34.83%	0.71%	-12.27%	-42.22%	-34.32%	-21.32%	-25.67%	-8.34%	0.48%	-19.81%	4.25%	12.50%	-4.67%	-9.48%	1.45%	-16.95%
Effect of FX on Cash	-15,100,000	-22,440,000	-15,520,000	-10,400,000	-10,202,950	-7,824,960	3,400,000	8,300,000	-57,000,000	-20,900,000	-46,000,000	4,800,000	-15,700,000	-42,700,000	11,100,000	-500,000	55,000,000	-33,900,000	-2,100,000	43,400,000	-63,200,000	-90,303,000	45,763,000	17,364,000	-22,952,000	2,069,000	8,593,000	2,925,000	1,370,000	-1,657,000	-2,796,000	-900,000	-1,700,000	1,500,000	1,800,000
Effect of FX on Cash Margin	-0.15%	-0.24%	-0.18%	-0.14%	-0.18%	-0.14%	0.03%	0.08%	-0.57%	-0.19%	-0.58%	0.07%	-0.22%	-0.64%	0.21%	-0.01%	0.95%	-0.57%	-0.03%	0.64%	-1.23%	-2.42%	0.94%	0.29%	-0.42%	0.05%	0.28%	0.37%	0.21%	-0.25%	-0.39%	-0.15%	-0.27%	0.18%	0.24%
Net Change in Cash	85,366,667	266,600,000	289,410,000	165,726,667	127,374,950	123,317,280	2,106,600,000	-918,200,000	-932,300,000	818,400,000	258,500,000	1,080,500,000	-160,200,000	458,800,000	271,500,000	-89,500,000	-1,308,700,000	-786,800,000	1,611,400,000	-1,344,500,000	1,420,400,000	55,566,000	-692,532,000	386,494,000	146,775,000	165,296,000	250,557,000	147,935,000	-65,320,000	63,769,000	138,492,000	-165,300,000	49,500,000	-46,700,000	-46,400,000
Net Change in Cash Margin	-0.04%	2.12%	3.33%	1.97%	1.49%	3.03%	18.42%	-9.28%	-9.28%	7.48%	3.24%	14.83%	-2.26%	6.89%	5.05%	-1.77%	-22.61%	-13.22%	24.16%	-19.72%	27.58%	1.49%	-14.28%	6.35%	2.69%	4.02%	8.09%	18.53%	-9.83%	9.70%	19.48%	-28.28%	7.88%	-5.74%	-6.16%
Cash at Beginning of Period	2,074,400,000	2,066,380,000	1,336,580,000	1,423,246,667	1,304,210,000	1,075,990,000	1,151,500,000	2,069,700,000	3,002,000,000	2,183,600,000	1,925,100,000	844,600,000	1,004,800,000	546,000,000	274,500,000	364,000,000	1,710,400,000	2,459,500,000	848,100,000	2,192,600,000	772,300,000	716,740,000	1,409,272,000	1,022,778,000	876,003,000	710,707,000	295,472,000	147,537,000	212,857,000	149,088,000	10,596,000	175,900,000	126,500,000	173,200,000	219,600,000
Cash at Beginning of Period Margin	20.29%	20.99%	15.12%	18.80%	19.02%	18.58%	10.07%	20.91%	29.88%	19.97%	24.11%	11.59%	14.16%	8.20%	5.10%	7.21%	29.55%	41.32%	12.72%	32.16%	15.00%	19.19%	29.05%	16.81%	16.04%	17.28%	9.54%	18.48%	32.03%	22.67%	1.49%	30.09%	20.15%	21.27%	29.16%
Cash at End of Period	2,159,766,667	2,332,980,000	1,625,990,000	1,588,973,333	1,431,584,950	1,199,307,280	3,258,100,000	1,151,500,000	2,069,700,000	3,002,000,000	2,183,600,000	1,925,100,000	844,600,000	1,004,800,000	546,000,000	274,500,000	401,700,000	1,672,700,000	2,459,500,000	848,100,000	2,192,700,000	772,306,000	716,740,000	1,409,272,000	1,022,778,000	876,003,000	546,029,000	295,472,000	147,537,000	212,857,000	149,088,000	10,600,000	176,000,000	126,500,000	173,200,000
Cash at End of Period Margin	20.24%	23.11%	18.45%	20.77%	20.51%	21.61%	28.50%	11.64%	20.60%	27.46%	27.35%	26.42%	11.90%	15.10%	10.15%	5.44%	6.94%	28.10%	36.88%	12.44%	42.58%	20.68%	14.78%	23.16%	18.73%	21.30%	17.63%	37.01%	22.20%	32.37%	20.97%	1.81%	28.03%	15.54%	23.00%
Operating Cash Flow	3,599,133,333	3,574,640,000	2,579,970,000	2,332,960,000	2,204,260,300	1,820,686,080	4,421,800,000	3,573,100,000	2,802,500,000	4,292,400,000	2,783,400,000	1,911,900,000	2,235,100,000	1,976,600,000	923,100,000	879,800,000	1,359,800,000	1,866,900,000	1,998,600,000	2,070,200,000	1,899,200,000	963,178,000	1,720,594,000	2,703,456,000	2,059,383,000	1,644,195,000	717,297,000	190,986,000	141,646,000	198,423,000	183,594,000	90,300,000	181,400,000	277,600,000	158,800,000
Operating Cash Flow Margin	34.22%	35.36%	29.88%	30.06%	31.71%	30.35%	38.67%	36.11%	27.89%	39.26%	34.86%	26.24%	31.49%	29.70%	17.16%	17.44%	23.49%	31.36%	29.97%	30.36%	36.88%	25.79%	35.47%	44.42%	37.72%	39.98%	23.16%	23.92%	21.31%	30.18%	25.82%	15.45%	28.89%	34.09%	21.09%
Capital Expenditure	-994,800,000	-893,780,000	-958,940,000	-995,613,333	-855,393,550	-707,962,080	-1,027,300,000	-1,008,600,000	-948,500,000	-892,300,000	-592,200,000	-707,500,000	-1,121,400,000	-1,023,500,000	-1,118,500,000	-1,149,600,000	-1,534,700,000	-1,703,300,000	-1,051,900,000	-646,200,000	-408,700,000	-414,822,000	-516,654,000	-315,741,000	-455,818,000	-470,636,000	-171,688,000	-49,834,000	-76,866,000	-161,048,000	-131,745,000	-250,300,000	-258,700,000	-184,000,000	-120,800,000
Capital Expenditure Margin	-9.54%	-8.84%	-12.87%	-14.47%	-13.19%	-13.20%	-8.99%	-10.19%	-9.44%	-8.16%	-7.42%	-9.71%	-15.80%	-15.38%	-20.79%	-22.78%	-26.52%	-28.61%	-15.77%	-9.48%	-7.94%	-11.11%	-10.65%	-5.19%	-8.35%	-11.44%	-5.54%	-6.24%	-11.56%	-24.49%	-18.53%	-42.82%	-41.20%	-22.60%	-16.04%
Free Cash Flow	2,604,300,000	2,680,840,000	1,621,020,000	1,337,340,000	1,348,861,750	1,112,720,000	3,394,400,000	2,564,500,000	1,854,000,000	3,400,100,000	2,191,200,000	1,204,400,000	1,113,700,000	953,100,000	-195,400,000	-269,800,000	-174,900,000	163,600,000	946,700,000	1,424,000,000	1,490,500,000	548,356,000	1,203,940,000	2,387,715,000	1,603,565,000	1,173,559,000	545,609,000	141,152,000	64,780,000	37,375,000	51,849,000	-160,000,000	-77,300,000	93,600,000	38,000,000
Free Cash Flow Margin	24.69%	26.52%	17.02%	15.59%	18.53%	17.14%	29.69%	25.92%	18.45%	31.10%	27.44%	16.53%	15.69%	14.32%	-3.63%	-5.35%	-3.02%	2.75%	14.19%	20.88%	28.94%	14.68%	24.82%	39.23%	29.37%	28.54%	17.62%	17.68%	9.75%	5.68%	7.29%	-27.37%	-12.31%	11.50%	5.05%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y 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
Revenue	10,459,033,333	10,059,220,000	8,175,860,000	7,475,781,600	6,819,025,200	5,692,353,520	11,433,400,000	9,895,800,000	10,047,900,000	10,934,100,000	7,984,900,000	7,285,600,000	7,096,700,000	6,654,500,000	5,379,800,000	5,045,900,000	5,787,694,000	5,952,943,000	6,669,266,000	6,818,721,000	5,149,500,000	3,734,280,000	4,851,000,000	6,085,700,000	5,460,200,000	4,112,600,000	3,096,700,000	798,406,000	664,650,000	657,521,000	711,057,000	584,500,000	627,900,000	814,200,000	753,000,000
EBITDA	5,679,266,667	5,557,140,000	4,229,080,000	3,882,862,533	3,607,684,950	2,989,307,240	6,537,500,000	5,116,100,000	5,384,200,000	6,859,900,000	3,888,000,000	3,531,600,000	3,540,800,000	3,297,700,000	2,210,900,000	1,924,100,000	2,665,353,000	2,973,273,000	3,475,690,000	3,923,315,000	2,914,507,000	1,824,661,000	2,520,300,000	3,848,300,000	3,366,600,000	2,350,900,000	1,709,200,000	290,413,000	186,833,000	165,508,000	227,028,000	119,746,000	131,200,000	284,000,000	297,200,000
EBITDA Margin	54.15%	54.78%	50.10%	50.89%	52.31%	48.92%	57.18%	51.70%	53.59%	62.74%	48.69%	48.47%	49.89%	49.56%	41.10%	38.13%	46.05%	49.95%	52.12%	57.54%	56.60%	48.86%	51.95%	63.24%	61.66%	57.16%	55.19%	36.37%	28.11%	25.17%	31.93%	20.49%	20.90%	34.88%	39.47%
(-) Tax Adjustment	2,132,594,974	2,163,774,658	1,748,898,475	1,529,735,021	1,373,878,657	1,132,504,899	2,407,410,791	1,965,511,000	2,024,863,132	2,762,027,543	1,659,060,824	1,369,777,400	1,433,767,460	2,259,246,358	865,600,430	741,719,809	961,189,137	955,672,222	1,243,041,926	1,256,319,525	1,040,817,765	610,450,218	817,671,119	1,336,906,120	1,074,153,713	692,366,643	521,734,262	119,937,699	67,970,324	51,723,002	73,684,049	29,706,808	41,879,302	65,438,873	91,428,615
(-) Tax Adjustment Margin	20.36%	21.42%	21.09%	20.05%	19.62%	18.11%	21.06%	19.86%	20.15%	25.26%	20.78%	18.80%	20.20%	33.95%	16.09%	14.70%	16.61%	16.05%	18.64%	18.42%	20.21%	16.35%	16.86%	21.97%	19.67%	16.84%	16.85%	15.02%	10.23%	7.87%	10.36%	5.08%	6.67%	8.04%	12.14%
(-) Change In Working Capital	-96,733,333	76,820,000	-64,540,000	-80,773,333	-74,490,700	-51,675,680	238,700,000	310,000,000	-838,900,000	190,700,000	483,600,000	-347,000,000	22,600,000	-101,500,000	-393,800,000	-209,800,000	-129,900,000	-59,100,000	3,200,000	-421,600,000	41,200,000	-286,404,000	61,881,000	35,728,000	-178,470,000	89,051,000	61,025,000	14,326,000	50,372,000	75,985,000	-3,786,000	-35,100,000	37,700,000	18,600,000	-56,500,000
(-) Change In Working Capital Margin	-1.04%	0.93%	-1.28%	-1.42%	-1.41%	-0.24%	2.09%	3.13%	-8.35%	1.74%	6.06%	-4.76%	0.32%	-1.53%	-7.32%	-4.16%	-2.24%	-0.99%	0.05%	-6.18%	0.80%	-7.67%	1.28%	0.59%	-3.27%	2.17%	1.97%	1.79%	7.58%	11.56%	-0.53%	-6.01%	6.00%	2.28%	-7.50%
(-) Capital Expenditure	-994,800,000	-893,780,000	-958,940,000	-995,613,333	-855,393,550	-707,962,080	-1,027,300,000	-1,008,600,000	-948,500,000	-892,300,000	-592,200,000	-707,500,000	-1,121,400,000	-1,023,500,000	-1,118,500,000	-1,149,600,000	-1,534,700,000	-1,703,300,000	-1,051,900,000	-646,200,000	-408,700,000	-414,822,000	-516,654,000	-315,741,000	-455,818,000	-470,636,000	-171,688,000	-49,834,000	-76,866,000	-161,048,000	-131,745,000	-250,300,000	-258,700,000	-184,000,000	-120,800,000
(-) Capital Expenditure Margin	-9.54%	-8.84%	-12.87%	-14.47%	-13.19%	-13.20%	-8.99%	-10.19%	-9.44%	-8.16%	-7.42%	-9.71%	-15.80%	-15.38%	-20.79%	-22.78%	-26.52%	-28.61%	-15.77%	-9.48%	-7.94%	-11.11%	-10.65%	-5.19%	-8.35%	-11.44%	-5.54%	-6.24%	-11.56%	-24.49%	-18.53%	-42.82%	-41.20%	-22.60%	-16.04%
Unlevered Free Cash Flow	2,648,605,026	2,422,765,342	1,585,781,525	1,438,287,512	1,452,903,443	1,200,515,941	2,864,089,209	1,831,989,000	3,249,736,868	3,014,872,457	1,153,139,176	1,801,322,600	963,032,540	116,453,642	620,599,570	242,580,191	299,363,863	373,400,778	1,177,548,074	2,442,395,475	1,423,789,235	1,085,792,782	1,124,093,881	2,159,924,880	2,015,098,287	1,098,846,357	954,752,738	106,315,301	-8,375,324	-123,248,002	25,384,951	-125,160,808	-207,079,302	15,961,127	141,471,385
Unlevered Free Cash Flow Margin	25.30%	23.58%	17.43%	17.79%	20.91%	17.84%	25.05%	18.51%	32.34%	27.57%	14.44%	24.72%	13.57%	1.75%	11.54%	4.81%	5.17%	6.27%	17.66%	35.82%	27.65%	29.08%	23.17%	35.49%	36.91%	26.72%	30.83%	13.32%	-1.26%	-18.74%	3.57%	-21.41%	-32.98%	1.96%	18.79%
(-) Net Interest Income After Taxes	-155,424,663	-174,890,453	-161,543,865	-142,042,131	-117,451,206	-98,089,464	-128,056,456	-147,858,021	-190,359,511	-209,018,437	-199,159,843	-195,577,733	-155,373,417	-94,628,171	-172,566,357	-122,840,705	-78,819,768	-119,840,454	-100,982,378	-117,390,722	-98,159,994	-60,573,424	-34,318,751	-70,806,911	-24,025,540	-28,667,533	-66,556,996	-5,753,871	-11,725,119	-10,832,771	-8,343,719	-4,812,276	0	0	0
(-) Net Interest Income After Taxes Margin	-1.50%	-1.78%	-2.09%	-1.96%	-1.70%	-1.66%	-1.12%	-1.49%	-1.89%	-1.91%	-2.49%	-2.68%	-2.19%	-1.42%	-3.21%	-2.43%	-1.36%	-2.01%	-1.51%	-1.72%	-1.91%	-1.62%	-0.71%	-1.16%	-0.44%	-0.70%	-2.15%	-0.72%	-1.76%	-1.65%	-1.17%	-0.82%	0.00%	0.00%	0.00%
Net Debt Issuance	-100,000,000	-140,000,000	206,710,000	332,598,600	246,912,800	188,954,480	0	0	-300,000,000	0	-400,000,000	987,300,000	0	0	0	1,779,800,000	0	-10,000,000	1,467,455,000	-15,250,000	1,479,674,000	-10,000,000	-160,000,000	-78,600,000	356,100,000	-158,223,000	-340,912,000	50,000,000	-96,992,000	48,782,000	124,728,000	-11,700,000	-13,700,000	141,300,000	12,700,000
Net Debt Issuance Margin	-1.00%	-1.60%	4.08%	6.08%	4.45%	3.78%	0.00%	0.00%	-2.99%	0.00%	-5.01%	13.55%	0.00%	0.00%	0.00%	35.27%	0.00%	-0.17%	22.00%	-0.22%	28.73%	-0.27%	-3.30%	-1.29%	6.52%	-3.85%	-11.01%	6.26%	-14.59%	7.42%	17.54%	-2.00%	-2.18%	17.35%	1.69%
Levered Free Cash Flow	2,704,029,688	2,457,655,795	1,954,035,390	1,912,928,243	1,817,267,449	1,487,559,885	2,992,145,665	1,979,847,020	3,140,096,379	3,223,890,894	952,299,019	2,984,200,332	1,118,405,958	211,081,813	793,165,927	2,145,220,896	378,183,631	483,241,231	2,745,985,452	2,544,536,197	3,001,623,229	1,136,366,206	998,412,631	2,152,131,791	2,395,223,827	969,290,889	680,397,734	162,069,172	-93,642,205	-63,633,231	158,456,670	-132,048,532	-220,779,302	157,261,127	154,171,385
Levered Free Cash Flow Margin	25.81%	23.77%	23.60%	25.83%	27.06%	23.28%	26.17%	20.01%	31.25%	29.48%	11.93%	40.96%	15.76%	3.17%	14.74%	42.51%	6.53%	8.12%	41.17%	37.32%	58.29%	30.43%	20.58%	35.36%	43.87%	23.57%	21.97%	20.30%	-14.09%	-9.68%	22.28%	-22.59%	-35.16%	19.31%	20.47%