Singapore Telecommunications Limited (Z74.SI)

Analysis: Margins & Ratios Industry: Telecommunications Services Sector: Communication Services Live Price: $4.49

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	11,073,546,727	11,442,852,530	12,292,651,344	12,797,672,500	12,431,239,757	21,803,745,873	22,720,647,313	10,954,881,301	10,940,477,275	11,325,281,604	11,878,752,431	12,114,870,040	12,810,522,543	13,452,818,197	13,372,511,880	12,941,475,274	13,134,922,892	13,337,585,989	13,047,337,121	14,081,097,030	14,578,500,573	13,994,053,346	13,064,993,669	11,565,348,704	11,495,651,804	10,359,205,129	10,174,508,344	9,770,730,970	9,288,815,627	7,944,439,867	5,629,341,172
Cost of Revenue	5,814,709,112	7,398,418,864	8,317,504,140	6,641,939,037	6,960,157,013	16,625,111,321	17,648,494,136	0	8,313,910,878	9,130,216,459	9,688,178,864	9,859,788,120	9,814,097,930	9,799,461,581	9,440,987,192	8,714,668,053	8,413,732,327	1,662,890,593	1,366,291,563	1,590,096,053	1,704,321,528	10,130,444,415	9,385,074,790	8,205,106,273	8,048,055,925	7,133,942,361	6,801,875,353	6,203,566,187	6,015,849,203	5,081,833,302	3,294,340,140
Cost of Revenue Margin	52.20%	63.91%	67.10%	52.62%	56.89%	76.25%	77.68%	0.00%	75.99%	80.62%	81.56%	81.39%	76.61%	72.84%	70.60%	67.34%	64.06%	12.47%	10.47%	11.29%	11.69%	72.39%	71.83%	70.95%	70.01%	68.87%	66.85%	63.49%	64.76%	63.97%	58.52%
Gross Profit	5,258,837,614	4,044,433,666	3,975,147,203	6,155,733,463	5,471,082,744	5,178,634,552	5,072,153,177	10,954,881,301	2,626,566,397	2,195,065,145	2,190,573,567	2,255,081,920	2,996,424,613	3,653,356,616	3,931,524,688	4,226,807,221	4,721,190,565	11,674,695,396	11,681,045,558	12,491,000,977	12,874,179,045	3,863,608,931	3,679,918,879	3,360,242,431	3,447,595,879	3,225,262,768	3,372,632,991	3,567,164,783	3,272,966,424	2,862,606,565	2,335,001,032
Gross Profit Margin	47.80%	36.09%	32.90%	47.38%	43.11%	23.75%	22.32%	100.00%	24.01%	19.38%	18.44%	18.61%	23.39%	27.16%	29.40%	32.66%	35.94%	87.53%	89.53%	88.71%	88.31%	27.61%	28.17%	29.05%	29.99%	31.13%	33.15%	36.51%	35.24%	36.03%	41.48%
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
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%
SG&A Expenses	1,454,677,558	1,485,349,356	1,780,562,193	2,070,715,550	1,553,036,662	2,178,028,125	2,211,714,960	1,415,001,952	1,463,867,223	1,485,163,498	1,503,207,251	1,559,506,858	1,616,193,670	1,914,806,166	1,964,368,406	2,262,748,579	2,620,758,322	2,911,007,190	3,060,778,084	3,546,875,241	3,736,450,809	0	0	0	0	0	0	0	0	0	0
SG&A Expenses Margin	13.14%	12.99%	14.39%	16.00%	12.00%	9.99%	9.73%	12.92%	13.38%	13.11%	12.65%	12.87%	12.62%	14.23%	14.69%	17.48%	19.95%	21.83%	23.46%	25.19%	25.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses	4,436,543,263	3,274,468,779	2,675,121,904	5,189,749,917	4,234,419,671	4,333,443,478	1,790,823,125	9,122,472,359	2,701,993,931	1,485,163,498	1,503,207,251	1,559,506,858	1,616,193,670	1,914,806,166	1,964,368,406	2,262,748,579	2,620,758,322	9,470,879,418	9,380,583,212	10,165,447,747	10,423,093,954	11,655,025,382	1,381,005,353	1,270,497,046	1,400,597,926	1,345,692,257	1,444,352,091	1,486,479,995	1,842,476,272	1,759,924,166	1,011,844,106
Operating Expenses Margin	40.36%	29.32%	22.56%	39.70%	32.82%	19.87%	7.88%	83.27%	24.70%	13.11%	12.65%	12.87%	12.62%	14.23%	14.69%	17.48%	19.95%	71.01%	71.90%	72.19%	71.50%	83.29%	10.57%	10.99%	12.18%	12.99%	14.20%	15.21%	19.84%	22.15%	17.97%
Operating Income (EBIT)	1,088,433,255	929,648,229	1,379,866,970	1,722,360,118	1,857,898,647	845,191,074	1,643,994,989	1,832,408,942	722,989,176	709,901,647	687,366,316	695,575,062	1,380,230,943	1,738,550,450	1,967,156,282	1,964,058,642	2,100,432,243	2,279,940,481	2,429,091,847	2,348,243,443	2,496,465,517	2,482,990,783	2,302,553,253	1,907,216,948	2,008,200,012	2,283,812,531	2,820,788,425	2,198,704,872	3,659,009,809	568,029,735	1,536,971,527
Operating Income (EBIT) Margin	9.87%	8.23%	11.07%	13.20%	14.97%	3.88%	7.24%	16.73%	6.61%	6.27%	5.79%	5.74%	10.77%	12.92%	14.71%	15.18%	15.99%	17.09%	18.62%	16.68%	17.12%	17.74%	17.62%	16.49%	17.47%	22.05%	27.72%	22.50%	39.39%	7.15%	27.30%
Interest Income	69,696,900	42,886,826	30,782,798	31,941,831	42,890,698	157,127,789	93,935,933	76,434,267	85,494,864	47,161,569	2,710,435	2,632,994	5,962,957	6,427,603	12,855,206	28,962,934	39,185,146	35,777,742	38,100,972	36,242,388	35,003,332	26,175,058	0	37,558,885	167,427,442	67,605,993	106,094,170	69,542,018	240,996,392	5,730,634	145,898,844
Interest Income Margin	0.63%	0.39%	0.27%	0.26%	0.37%	0.72%	0.41%	0.70%	0.78%	0.42%	0.02%	0.02%	0.05%	0.05%	0.10%	0.22%	0.30%	0.27%	0.29%	0.26%	0.24%	0.19%	0.00%	0.32%	1.46%	0.65%	1.04%	0.71%	2.59%	0.07%	2.59%
Interest Expense	332,221,890	329,573,408	317,833,352	303,419,001	304,850,369	718,575,039	669,322,563	329,046,809	329,124,250	338,494,611	330,053,542	321,147,827	355,609,072	304,188,248	302,174,782	286,764,023	281,730,358	239,060,367	226,205,161	260,124,319	332,686,536	314,875,106	258,885,263	279,329,687	304,265,689	326,336,374	376,905,347	378,299,285	368,928,924	413,844,704	210,252,315
Interest Expense Margin	3.00%	2.89%	2.61%	2.40%	2.49%	3.30%	2.95%	3.00%	3.01%	2.99%	2.78%	2.65%	2.78%	2.26%	2.26%	2.22%	2.14%	1.79%	1.73%	1.85%	2.28%	2.25%	1.98%	2.42%	2.65%	3.15%	3.70%	3.87%	3.97%	5.21%	3.73%
Net Interest Income	-261,595,698	-285,881,196	-286,438,771	-271,069,314	-261,653,779	-535,736,838	-575,386,630	-252,612,542	-243,629,386	-288,545,166	-326,413,815	-318,205,069	-349,646,115	-295,669,738	-289,319,576	-257,801,089	-242,545,212	-203,282,625	-188,104,189	-223,881,931	-297,683,204	-288,700,048	-258,885,263	-241,770,802	-136,838,247	-258,730,381	-270,811,177	-308,757,267	-127,932,532	-408,114,070	-64,353,471
Net Interest Income Margin	-2.36%	-2.49%	-2.34%	-2.14%	-2.12%	-2.46%	-2.53%	-2.31%	-2.23%	-2.55%	-2.75%	-2.63%	-2.73%	-2.20%	-2.16%	-1.99%	-1.85%	-1.52%	-1.44%	-1.59%	-2.04%	-2.06%	-1.98%	-2.09%	-1.19%	-2.50%	-2.66%	-3.16%	-1.38%	-5.14%	-1.14%
Unusual Items	-335,732,549	115,557,460	197,861,755	-106,001,241	-290,717,386	-4,001,453,911	-2,045,681,456	-1,472,075,969	222,255,670	242,622,653	165,956,063	1,419,028,884	1,507,543,947	345,619,183	-1,112,904,611	320,141,094	340,430,636	-972,968,724	-749,861,203	-627,194,659	-546,965,783	-671,645,793	-924,258,335	-907,376,197	-1,326,641,771	-673,349,495	-392,703,311	-114,457,798	-541,854,677	76,976,354	-42,360,227
Unusual Items Margin	-3.09%	0.77%	1.49%	-0.74%	-2.40%	-18.35%	-9.00%	-13.44%	2.03%	2.14%	1.40%	11.71%	11.77%	2.57%	-8.32%	2.47%	2.59%	-7.29%	-5.75%	-4.45%	-3.75%	-4.80%	-7.07%	-7.85%	-11.54%	-6.50%	-3.86%	-1.17%	-5.83%	0.97%	-0.75%
EBT Excluding Unusual Items	2,022,423,342	985,219,890	1,271,194,015	2,205,839,769	2,701,293,090	9,409,546,146	6,310,744,531	5,029,173,422	522,107,222	515,989,383	682,797,297	-1,823,967,873	-1,285,210,836	1,345,072,729	4,482,285,080	1,581,577,543	1,662,116,183	4,429,160,554	4,116,918,442	3,826,514,692	3,888,080,287	4,114,982,417	4,409,955,186	3,963,740,144	4,798,321,801	3,889,241,902	3,877,006,224	2,736,377,735	4,870,651,695	822,191,097	1,686,045,452
EBT Excluding Unusual Items Margin	18.41%	9.19%	10.43%	16.82%	21.89%	43.16%	27.78%	45.91%	4.77%	4.56%	5.75%	-15.06%	-10.03%	10.00%	33.52%	12.22%	12.65%	33.21%	31.55%	27.17%	26.67%	29.41%	33.75%	34.27%	41.74%	37.54%	38.11%	28.01%	52.44%	10.35%	29.95%
Pre-Tax Income	1,686,690,794	1,100,777,350	1,469,055,770	2,099,838,529	2,410,575,704	5,408,092,235	4,265,063,075	3,557,097,453	744,362,892	758,612,036	848,753,360	-404,938,989	222,333,111	1,690,691,912	3,369,380,469	1,901,718,637	2,002,546,819	3,456,191,830	3,367,057,239	3,199,320,033	3,341,114,504	3,443,336,624	3,485,696,851	3,056,363,947	3,471,680,030	3,215,892,407	3,484,302,913	2,621,919,937	4,328,797,018	899,167,451	1,643,685,225
Pre-Tax Income Margin	15.32%	9.96%	11.92%	16.08%	19.49%	24.80%	18.77%	32.47%	6.80%	6.70%	7.15%	-3.34%	1.74%	12.57%	25.20%	14.69%	15.25%	25.91%	25.81%	22.72%	22.92%	24.61%	26.68%	26.43%	30.20%	31.04%	34.25%	26.83%	46.60%	11.32%	29.20%
Income Tax Expense	280,723,625	301,013,167	405,899,257	422,321,912	406,797,573	683,571,707	786,878,001	437,464,209	122,124,457	282,582,209	512,581,979	150,312,981	397,427,212	522,571,868	544,410,230	530,006,204	559,511,225	525,437,185	535,117,310	480,676,287	251,605,809	482,999,517	460,464,186	385,268,975	404,474,343	289,164,694	261,750,580	90,683,411	753,423,489	42,127,904	385,656,180
Income Tax Expense Margin	2.53%	2.63%	3.26%	3.28%	3.25%	3.14%	3.46%	3.99%	1.12%	2.50%	4.32%	1.24%	3.10%	3.88%	4.07%	4.10%	4.26%	3.94%	4.10%	3.41%	1.73%	3.45%	3.52%	3.33%	3.52%	2.79%	2.57%	0.93%	8.11%	0.53%	6.85%
Net Income	1,816,636,792	1,477,527,815	2,083,573,337	2,357,360,830	2,513,700,012	4,708,103,036	4,147,739,960	3,111,114,734	615,655,950	1,723,139,691	1,508,937,885	428,790,817	832,180,986	2,396,411,745	4,238,345,930	2,983,569,407	2,997,586,228	2,928,431,415	2,828,145,320	2,716,862,603	3,088,889,167	2,962,350,573	3,025,852,193	2,670,475,444	3,066,818,482	2,926,340,508	3,224,101,153	2,531,081,644	3,473,073,968	1,084,561,205	1,263,295,033
Net Income Margin	16.41%	13.10%	16.74%	18.18%	20.28%	21.59%	18.26%	28.40%	5.63%	15.21%	12.70%	3.54%	6.50%	17.81%	31.69%	23.05%	22.82%	21.96%	21.68%	19.29%	21.19%	21.17%	23.16%	23.09%	26.68%	28.25%	31.69%	25.90%	37.39%	13.65%	22.44%
Depreciation and Amortization	1,917,619,856	1,988,065,352	1,881,220,004	1,790,647,592	1,704,205,367	3,334,532,019	3,503,508,281	1,866,792,746	1,892,658,040	1,993,408,781	2,108,331,225	2,079,135,968	1,998,210,123	1,720,893,902	1,743,584,115	1,739,479,742	1,669,705,401	1,673,809,774	1,651,584,207	1,647,479,834	1,550,059,056	1,524,580,967	1,454,341,980	1,341,820,207	1,461,234,229	1,436,220,786	1,530,776,247	1,529,459,750	1,959,721,946	1,855,486,360	1,075,345,726
Depreciation and Amortization Margin	17.31%	17.37%	15.44%	14.19%	13.86%	15.29%	15.42%	17.04%	17.30%	17.60%	17.75%	17.16%	15.60%	12.79%	13.04%	13.44%	12.71%	12.55%	12.66%	11.70%	10.63%	10.89%	11.13%	11.60%	12.71%	13.86%	15.05%	15.65%	21.10%	23.36%	19.10%
EBITDA	3,590,061,505	3,210,285,679	3,502,594,477	4,009,951,770	4,237,041,049	7,223,851,362	5,186,301,211	5,770,670,997	1,911,785,967	3,087,727,552	3,286,208,835	1,995,035,042	3,553,070,521	3,626,716,912	3,916,036,488	3,927,962,402	3,950,730,056	5,369,061,971	5,244,846,607	5,112,112,733	4,114,517,771	5,282,792,697	5,198,924,094	4,677,513,841	5,237,179,948	4,978,449,567	4,499,476,982	4,529,678,972	4,428,928,231	3,168,498,515	2,929,283,266
EBITDA Margin	32.47%	28.31%	28.60%	31.25%	34.34%	33.13%	22.83%	52.68%	17.47%	27.26%	27.66%	16.47%	27.74%	26.96%	29.28%	30.35%	30.08%	40.26%	40.20%	36.30%	28.22%	37.75%	39.79%	40.44%	45.56%	48.06%	44.22%	46.36%	47.68%	39.88%	52.04%
NOPAT	885,629,448	776,581,994	857,668,386	1,266,110,340	1,455,920,699	738,360,665	1,340,687,988	1,607,052,921	604,371,414	445,464,008	272,249,742	953,771,887	-1,086,973,933	1,201,186,102	1,649,311,499	1,416,678,370	1,513,571,848	1,933,326,182	2,043,042,843	1,995,435,682	2,308,466,804	2,134,699,727	1,998,383,569	1,666,803,329	1,774,231,048	2,078,458,039	2,608,882,909	2,122,659,050	3,022,162,222	541,416,336	1,176,353,473
NOPAT Margin	8.04%	6.86%	6.95%	9.66%	11.79%	3.39%	5.90%	14.67%	5.52%	3.93%	2.29%	7.87%	-8.49%	8.93%	12.33%	10.95%	11.52%	14.50%	15.66%	14.17%	15.83%	15.25%	15.30%	14.41%	15.43%	20.06%	25.64%	21.72%	32.54%	6.82%	20.90%
Owner's Earnings	1,436,891,941	1,324,690,258	1,923,270,467	2,154,919,731	2,358,481,143	5,048,998,318	4,635,695,701	1,681,553,874	678,770,365	1,950,351,585	1,685,425,924	627,349,541	982,184,203	2,523,647,308	3,292,094,351	2,772,852,446	3,038,475,076	2,121,341,313	2,638,259,988	2,641,125,305	2,798,253,094	2,892,111,586	2,896,138,518	2,523,879,631	3,070,535,650	2,974,276,487	3,380,996,619	2,948,875,839	4,418,473,696	1,647,944,480	-121,504,929
Owner's Earnings Margin	12.93%	11.63%	15.37%	16.57%	19.06%	23.16%	20.40%	15.35%	6.20%	17.22%	14.19%	5.18%	7.67%	18.76%	24.62%	21.43%	23.13%	15.90%	20.22%	18.76%	19.19%	20.67%	22.17%	21.82%	26.71%	28.71%	33.23%	30.18%	47.57%	20.74%	-2.16%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	11,073,546,727	11,442,852,530	12,292,651,344	12,797,672,500	12,431,239,757	10,954,881,301	10,940,477,275	11,325,281,604	11,878,752,431	12,114,870,040	12,810,522,543	13,452,818,197	13,372,511,880	12,941,475,274	13,134,922,892	13,337,585,989	13,047,337,121	14,081,097,030	14,578,500,573	13,994,053,346	13,064,993,669	11,565,348,704	11,495,651,804	10,359,205,129	10,174,508,344	9,770,730,970	9,288,815,627	7,944,439,867	5,629,341,172
Cash & Cash Equivalents	2,335,181,728	1,847,912,630	1,158,819,380	1,091,639,312	1,137,089,435	2,147,593,812	3,566,312,932	1,291,638,439	1,649,570,741	584,447,227	774,100,236	397,040,007	406,487,809	413,380,058	357,622,538	435,837,948	482,070,225	705,487,510	1,042,665,624	2,120,334,580	1,249,587,976	833,265,160	1,062,490,520	1,076,507,341	2,145,348,023	2,557,798,789	2,448,606,979	735,224,854	1,338,877,449
Cash & Cash Equivalents Margin	21.20%	16.46%	10.03%	8.97%	9.60%	19.60%	32.60%	11.40%	13.89%	4.82%	6.04%	2.95%	3.04%	3.19%	2.72%	3.27%	3.69%	5.01%	7.15%	15.15%	9.56%	7.20%	9.24%	10.39%	21.09%	26.18%	26.36%	9.25%	23.78%
Short-Term Investments	5,627,379	3,376,428	11,352,851	7,568,567	53,054,829	0	16,882,138	0	0	0	0	0	0	83,094,193	13,552,175	0	0	0	0	0	0	8,363,628	8,518,510	264,461,015	666,224,923	727,867,959	356,770,687	83,558,839	398,433,945
Short-Term Investments Margin	0.05%	0.03%	0.09%	0.06%	0.51%	0.00%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.64%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.07%	2.55%	6.55%	7.45%	3.84%	1.05%	7.08%
Cash & Short-Term Investments	2,340,809,107	1,851,289,058	1,170,172,231	1,099,207,879	1,190,144,264	2,147,593,812	3,583,195,070	1,291,638,439	1,649,570,741	584,447,227	774,100,236	397,040,007	406,487,809	496,474,251	371,174,713	435,837,948	482,070,225	705,487,510	1,042,665,624	2,120,334,580	1,249,587,976	841,628,788	1,071,009,030	1,340,968,356	2,811,572,946	3,285,666,748	2,805,377,666	818,783,693	1,737,311,394
Cash & Short-Term Investments Margin	21.25%	16.49%	10.12%	9.03%	10.11%	19.60%	32.75%	11.40%	13.89%	4.82%	6.04%	2.95%	3.04%	3.84%	2.83%	3.27%	3.69%	5.01%	7.15%	15.15%	9.56%	7.28%	9.32%	12.94%	27.63%	33.63%	30.20%	10.31%	30.86%
Net Receivables	3,459,082,961	3,383,614,125	3,278,278,877	2,791,877,118	2,392,241,547	3,917,740,190	3,420,491,529	3,039,017,163	3,187,549,001	3,353,272,741	3,398,265,962	3,641,972,789	3,563,602,497	2,799,492,150	2,461,384,744	2,149,994,483	1,967,698,369	2,225,809,222	2,751,865,935	0	2,288,768,755	1,840,385,365	1,837,520,048	0	0	1,462,705,608	0	0	0
Net Receivables Margin	31.29%	29.67%	26.90%	22.33%	19.21%	35.76%	31.26%	26.83%	26.83%	27.68%	26.53%	27.07%	26.65%	21.63%	18.74%	16.12%	15.08%	15.81%	18.88%	0.00%	17.52%	15.91%	15.98%	0.00%	0.00%	14.97%	0.00%	0.00%	0.00%
Inventory	242,984,044	229,628,053	251,613,553	228,688,436	207,235,988	227,444,217	233,407,174	268,100,742	208,858,377	210,329,756	216,525,036	323,393,616	307,750,534	272,747,202	247,578,877	224,424,018	131,339,936	165,491,417	161,154,721	231,780,913	267,790,978	134,282,694	95,717,076	72,329,894	144,272,583	146,673,254	131,030,172	296,908,794	348,097,295
Inventory Margin	2.19%	2.01%	2.05%	1.81%	1.66%	2.08%	2.13%	2.37%	1.76%	1.74%	1.69%	2.40%	2.30%	2.11%	1.88%	1.68%	1.01%	1.18%	1.11%	1.66%	2.05%	1.16%	0.83%	0.70%	1.42%	1.50%	1.41%	3.74%	6.18%
Other Current Assets	283,821,265	408,470,299	514,727,095	473,732,411	533,700,140	50,723,855	346,780,798	453,959,142	752,803,961	438,083,737	745,447,066	588,474,159	528,379,943	678,615,483	564,002,803	577,245,214	497,868,189	624,871,429	258,730,381	0	0	0	0	1,904,506,513	1,663,510,121	6,582,485	3,303,942,824	1,753,883,768	1,931,223,658
Other Current Assets Margin	2.55%	3.52%	4.13%	3.71%	4.52%	0.46%	3.17%	4.01%	6.34%	3.62%	5.82%	4.37%	3.95%	5.24%	4.29%	4.33%	3.82%	4.44%	1.77%	0.00%	0.00%	0.00%	0.00%	18.38%	16.35%	0.07%	35.57%	22.08%	34.31%
Total Current Assets	7,004,357,754	6,473,587,466	5,722,293,604	5,172,578,666	4,779,190,002	6,343,502,074	8,022,965,041	6,646,606,148	6,296,263,064	5,058,601,002	5,557,011,278	5,481,351,421	5,233,927,426	4,582,571,175	4,000,137,414	3,692,077,116	3,369,690,233	3,721,659,578	4,505,904,585	5,076,412,432	3,983,797,363	2,937,801,776	3,136,360,500	3,317,804,763	4,619,355,650	4,969,001,765	6,240,350,662	2,869,576,255	4,016,632,347
Total Current Assets Margin	63.31%	56.94%	47.38%	41.40%	39.08%	57.91%	73.33%	58.69%	53.00%	41.76%	43.38%	40.75%	39.14%	35.41%	30.45%	27.68%	25.83%	26.43%	30.91%	36.28%	30.49%	25.40%	27.28%	32.03%	45.40%	50.86%	67.18%	36.12%	71.35%
Property, Plant & Equipment	10,128,430,949	10,389,004,426	9,684,198,397	9,357,428,353	8,922,782,996	10,052,848,533	9,967,198,787	10,365,245,527	11,035,652,264	10,524,077,018	9,621,502,163	8,557,540,264	8,870,169,581	9,209,980,689	8,637,769,140	8,273,176,912	8,593,085,683	9,079,879,809	8,967,667,800	8,605,631,125	8,325,062,382	7,064,632,666	7,840,281,722	7,534,699,536	7,329,558,327	9,032,331,035	9,399,711,139	9,854,522,132	10,406,366,698
Property, Plant & Equipment Margin	91.46%	90.83%	79.61%	74.10%	72.47%	91.77%	91.10%	91.52%	92.90%	86.87%	75.11%	63.61%	66.33%	71.17%	65.76%	62.03%	65.86%	64.48%	61.51%	61.49%	63.72%	61.08%	68.20%	72.73%	72.04%	92.44%	101.19%	124.04%	184.86%
Goodwill	5,636,052,725	6,545,545,643	7,655,569,449	7,625,248,716	6,465,258,686	4,956,456,323	4,965,052,274	6,986,649,579	7,481,342,687	8,338,227,352	8,851,428,859	8,935,374,903	8,806,745,402	8,645,977,886	8,588,439,223	7,839,352,430	7,514,564,876	7,511,157,472	7,479,329,221	7,478,632,252	7,476,618,786	7,449,824,200	0	0	0	7,368,201,386	7,539,810,642	7,972,473,509	8,553,203,568
Goodwill Margin	50.77%	56.82%	61.77%	59.48%	50.69%	45.24%	45.38%	61.69%	62.98%	68.83%	69.09%	66.42%	65.86%	66.81%	65.39%	58.78%	57.59%	53.34%	51.30%	53.44%	57.23%	64.42%	0.00%	0.00%	0.00%	75.41%	81.17%	100.35%	151.94%
Intangible Assets	4,121,719,784	6,361,545,827	8,428,399,652	5,874,436,774	5,988,377,008	2,448,761,861	1,406,018,796	8,510,378,695	9,275,263,452	10,167,306,331	10,637,218,319	10,854,672,647	10,817,810,731	10,123,707,048	10,042,858,644	1,413,762,896	802,366,201	782,308,982	399,595,560	434,521,451	7,899,136,882	315,494,634	7,787,854,165	7,814,881,074	7,833,621,796	7,831,066,243	459,147,689	403,777,374	406,642,691
Intangible Assets Margin	36.78%	54.47%	67.17%	46.65%	49.16%	22.35%	12.85%	75.14%	78.08%	83.92%	83.04%	80.69%	80.90%	78.23%	76.46%	10.60%	6.15%	5.56%	2.74%	3.11%	60.46%	2.73%	67.75%	75.44%	76.99%	80.15%	4.94%	5.08%	7.22%
Long-Term Investments	10,539,771,727	10,644,234,474	11,233,436,578	9,126,205,015	8,021,590,463	11,365,008,837	10,348,285,948	9,906,020,397	10,801,083,475	10,800,773,711	11,566,510,319	12,438,418,538	12,024,573,834	12,712,327,355	10,371,363,366	8,607,179,945	8,068,964,995	7,882,564,508	0	0	0	6,880,400,527	6,877,922,415	5,321,977,843	4,458,433,252	3,543,003,191	3,624,393,682	4,122,416,753	3,238,505,179
Long-Term Investments Margin	95.27%	93.18%	91.57%	73.21%	65.63%	103.74%	94.59%	87.47%	90.93%	89.15%	90.29%	92.46%	89.92%	98.23%	78.96%	64.53%	61.84%	55.98%	0.00%	0.00%	0.00%	59.49%	59.83%	51.37%	43.82%	36.26%	39.02%	51.89%	57.53%
Tax Assets	410,411,486	340,957,235	341,925,247	450,180,021	528,860,077	530,006,204	464,723,441	236,504,814	239,602,454	233,949,261	181,366,822	214,201,806	273,366,730	509,406,898	536,124,043	622,470,758	641,598,685	731,972,332	745,756,830	591,649,240	689,457,223	624,484,224	838,686,030	811,349,357	860,524,392	946,948,548	692,167,658	738,322,494	303,723,602
Tax Assets Margin	3.72%	3.02%	2.82%	3.49%	4.33%	4.84%	4.25%	2.09%	2.02%	1.93%	1.42%	1.59%	2.04%	3.94%	4.08%	4.67%	4.92%	5.20%	5.12%	4.23%	5.28%	5.40%	7.30%	7.83%	8.46%	9.69%	7.45%	9.29%	5.40%
Other Non-Current Assets	-1,827,633,414	-4,103,412,732	-6,291,701,789	-2,709,278,548	-1,492,532,009	532,871,521	602,336,098	-6,618,107,860	-7,081,669,686	-7,952,493,731	-8,503,873,651	-8,601,449,311	-8,471,193,549	-8,384,459,629	-8,438,978,093	2,128,930,531	1,459,530,527	1,254,079,554	9,201,539,620	8,233,759,443	8,492,567,265	480,134,200	401,996,231	490,356,412	923,483,925	1,040,110,071	587,002,780	113,683,388	450,164,533
Other Non-Current Assets Margin	-16.02%	-34.67%	-49.60%	-22.53%	-12.58%	4.86%	5.51%	-58.44%	-59.62%	-65.64%	-66.38%	-63.94%	-63.35%	-64.79%	-64.25%	15.96%	11.19%	8.91%	63.12%	58.84%	65.00%	4.15%	3.50%	4.73%	9.08%	10.65%	6.32%	1.43%	8.00%
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
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%
Total Non-Current Assets	29,008,753,258	30,177,874,873	31,051,827,534	29,724,220,332	28,060,506,283	29,885,953,279	27,753,615,344	29,386,691,152	31,751,274,646	32,111,839,942	32,354,152,831	32,398,758,847	32,321,472,729	32,816,940,247	29,737,576,323	28,884,873,472	27,080,110,967	27,241,962,657	26,793,889,031	25,344,193,511	25,406,223,752	22,814,970,451	23,746,740,563	21,973,264,222	21,405,621,692	22,393,459,088	22,302,233,590	23,205,195,650	23,358,606,271
Total Non-Current Assets Margin	261.99%	263.66%	253.34%	234.39%	226.83%	272.81%	253.68%	259.48%	267.29%	265.06%	252.56%	240.83%	241.70%	253.58%	226.40%	216.57%	207.55%	193.46%	183.79%	181.11%	194.46%	197.27%	206.57%	212.11%	210.38%	229.19%	240.10%	292.09%	414.94%
Total Assets	36,013,111,013	36,651,462,338	36,774,121,138	34,896,798,998	32,839,696,285	36,229,455,353	35,776,580,385	36,033,297,300	38,047,537,710	37,170,440,944	37,911,164,109	37,880,110,268	37,555,400,155	37,399,511,422	33,737,713,737	32,576,950,588	30,449,801,200	30,963,622,235	31,299,793,616	30,420,605,943	29,390,021,115	25,752,772,227	26,883,101,063	25,291,068,985	26,024,977,342	27,362,460,853	28,542,584,252	26,074,771,905	27,375,238,618
Total Assets Margin	325.30%	320.60%	300.72%	275.79%	265.91%	330.72%	327.01%	318.17%	320.30%	306.82%	295.94%	281.58%	280.84%	288.99%	256.86%	244.25%	233.38%	219.89%	214.70%	217.38%	224.95%	222.67%	233.85%	244.14%	255.79%	280.05%	307.28%	328.21%	486.30%
Accounts Payable	3,439,180,624	3,485,665,875	3,292,783,576	2,982,629,790	2,915,626,546	4,012,837,738	3,177,791,435	3,126,912,698	3,424,750,784	3,686,036,718	3,430,946,064	3,487,090,789	3,117,000,250	2,802,280,026	2,662,189,257	2,580,024,356	2,166,411,975	2,356,219,866	2,532,630,464	2,176,324,423	3,600,851,618	2,530,384,675	2,602,095,041	2,374,805,706	2,464,947,030	2,676,128,637	2,647,475,467	2,675,276,786	2,752,795,227
Accounts Payable Margin	31.10%	30.51%	27.05%	23.74%	23.77%	36.63%	29.05%	27.61%	28.83%	30.43%	26.78%	25.92%	23.31%	21.65%	20.27%	19.34%	16.60%	16.73%	17.37%	15.55%	27.56%	21.88%	22.64%	22.92%	24.23%	27.39%	28.50%	33.67%	48.90%
Short-Term Debt	647,793,965	804,395,155	1,254,675,850	1,045,696,148	1,036,993,071	1,137,375,967	441,181,377	364,824,551	830,012,638	1,248,581,243	2,789,579,702	1,429,715,742	1,394,325,205	2,403,923,522	507,238,550	116,161,500	599,857,986	271,043,500	81,932,578	2,069,688,166	1,183,298,480	1,110,349,058	1,451,708,986	152,481,329	1,156,581,335	1,647,170,070	892,507,525	594,901,762	304,188,248
Short-Term Debt Margin	5.88%	6.99%	10.02%	8.20%	8.35%	10.38%	4.03%	3.22%	6.99%	10.31%	21.78%	10.63%	10.43%	18.58%	3.86%	0.87%	4.60%	1.92%	0.56%	14.79%	9.06%	9.60%	12.63%	1.47%	11.37%	16.86%	9.61%	7.49%	5.40%
Tax Payables	653,679,481	552,773,858	389,946,411	358,314,344	335,656,398	708,043,063	686,901,670	566,093,710	595,443,849	207,386,998	154,417,354	197,474,550	272,050,233	229,457,683	282,195,004	324,787,554	283,434,060	332,221,890	231,471,149	303,336,397	262,447,549	263,454,282	267,790,978	265,932,394	278,787,600	291,333,042	403,777,374	370,090,539	464,413,677
Tax Payables Margin	5.91%	4.89%	3.31%	2.92%	2.79%	6.46%	6.28%	5.00%	5.01%	1.71%	1.21%	1.47%	2.03%	1.77%	2.15%	2.44%	2.17%	2.36%	1.59%	2.17%	2.01%	2.28%	2.33%	2.57%	2.74%	2.98%	4.35%	4.66%	8.25%
Deferred Revenue	222,952,639	414,108,003	506,309,258	266,309,274	199,731,955	0	0	668,857,917	697,046,441	704,635,659	661,733,345	773,713,031	765,814,049	724,460,555	66,831,583	-135,057,104	-629,982,535	-303,413,838	0	0	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	1.97%	3.52%	4.03%	2.16%	1.62%	0.00%	0.00%	5.91%	5.87%	5.82%	5.17%	5.75%	5.73%	5.60%	0.51%	-1.01%	-4.83%	-2.15%	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	1,128,341,184	932,265,734	840,064,480	978,616,754	760,083,415	630,602,063	1,617,897,372	1,136,524,116	904,743,203	371,561,918	291,720,247	337,410,437	446,834,570	1,951,590,641	711,760,231	951,207,803	893,049,612	1,228,446,583	1,366,369,004	1,839,533,514	246,339,821	47,239,010	135,676,632	22,457,890	70,703,633	13,629,616	14,094,262	14,326,585	14,016,821
Other Current Liabilities Margin	10.19%	8.25%	6.99%	7.67%	5.97%	5.76%	14.79%	10.04%	7.62%	3.07%	2.28%	2.51%	3.34%	15.08%	5.42%	7.13%	6.84%	8.72%	9.37%	13.15%	1.89%	0.41%	1.18%	0.22%	0.69%	0.14%	0.15%	0.18%	0.25%
Total Current Liabilities	6,279,845,572	6,585,505,199	6,670,303,094	6,063,568,347	5,572,092,913	6,488,858,831	5,923,771,854	6,426,906,031	7,012,359,991	7,075,629,288	8,192,096,185	6,810,471,304	6,527,811,654	7,180,561,843	5,064,563,959	4,458,123,488	4,406,392,900	4,485,227,838	4,286,669,114	6,614,080,928	5,292,937,468	3,951,427,025	4,457,271,637	2,815,677,319	3,971,019,598	4,628,261,365	4,092,059,881	3,654,595,672	3,535,413,973
Total Current Liabilities Margin	56.71%	57.51%	54.50%	48.05%	45.02%	59.23%	54.15%	56.75%	59.03%	58.40%	63.95%	50.62%	48.82%	55.48%	38.56%	33.43%	33.77%	31.85%	29.40%	47.26%	40.51%	34.17%	38.77%	27.18%	39.03%	47.37%	44.05%	46.00%	62.80%
Long-Term Debt	6,991,192,784	6,867,870,573	6,737,034,004	6,350,704,087	5,895,958,919	7,901,305,230	6,756,959,573	6,315,313,550	6,363,249,529	7,002,524,984	6,492,653,440	6,764,006,704	6,649,161,701	6,105,061,235	7,020,104,091	6,678,279,517	5,457,189,829	5,676,192,977	6,559,562,464	3,518,996,481	4,143,945,351	4,693,853,892	4,389,510,762	4,856,712,315	4,574,594,752	5,737,913,454	6,768,265,959	7,669,911,522	8,892,782,353
Long-Term Debt Margin	63.22%	60.20%	55.23%	50.31%	47.85%	72.13%	61.76%	55.76%	53.57%	57.80%	50.68%	50.28%	49.72%	47.17%	53.45%	50.07%	41.83%	40.31%	44.99%	25.15%	31.72%	40.59%	38.18%	46.88%	44.96%	58.73%	72.86%	96.54%	157.97%
Capital Lease Obligations	1,637,980,405	1,731,379,413	1,041,929,935	744,140,894	558,105,671	365,986,166	2,404,233,286	2,143,721,762	2,362,027,941	1,380,927,912	1,407,954,821	38,333,295	38,333,295	130,720,408	147,060,459	158,831,491	169,286,026	192,828,090	168,511,616	53,356,849	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	14.75%	15.11%	8.92%	6.31%	4.73%	3.34%	21.98%	18.93%	19.88%	11.40%	10.99%	0.28%	0.29%	1.01%	1.12%	1.19%	1.30%	1.37%	1.16%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	410,927,760	401,082,427	412,427,534	368,144,189	338,959,257	394,716,777	417,949,077	420,117,425	386,275,708	386,353,149	406,952,455	398,898,591	414,773,996	444,975,986	453,262,173	404,009,697	344,535,009	231,858,354	188,801,158	228,683,273	228,296,068	238,440,839	255,168,095	244,248,914	290,868,396	328,969,368	371,407,036	466,969,230	549,676,218
Deferred Tax Liabilities Margin	3.71%	3.51%	3.37%	2.93%	2.76%	3.60%	3.82%	3.71%	3.25%	3.19%	3.18%	2.97%	3.10%	3.44%	3.45%	3.03%	2.64%	1.65%	1.30%	1.63%	1.75%	2.06%	2.22%	2.36%	2.86%	3.37%	4.00%	5.88%	9.76%
Other Non-Current Liabilities	693,174,391	609,971,781	524,229,105	651,500,808	788,008,640	639,507,778	671,568,352	768,447,043	574,999,425	395,336,305	210,019,992	340,198,313	467,821,081	508,632,488	665,760,277	651,820,897	698,982,466	905,362,731	1,122,817,059	1,151,237,906	1,480,284,715	966,928,326	1,485,705,585	1,215,359,054	839,382,999	1,444,739,296	1,405,399,268	1,083,244,708	1,378,449,800
Other Non-Current Liabilities Margin	6.25%	5.37%	4.35%	5.08%	6.44%	5.84%	6.14%	6.79%	4.84%	3.26%	1.64%	2.53%	3.50%	3.93%	5.07%	4.89%	5.36%	6.43%	7.70%	8.23%	11.33%	8.36%	12.92%	11.73%	8.25%	14.79%	15.13%	13.64%	24.49%
Total Non-Current Liabilities	10,134,806,925	10,003,952,286	9,265,823,394	8,722,830,334	8,043,188,758	9,639,700,798	10,519,895,204	10,244,824,772	10,051,222,272	9,564,118,382	8,954,038,184	7,984,709,187	8,018,705,786	8,370,055,603	9,310,963,753	8,938,317,661	7,540,739,934	7,900,918,025	8,854,836,263	4,949,409,192	5,886,058,087	5,925,707,879	6,161,438,283	6,328,943,166	5,719,172,732	7,801,483,781	9,115,967,315	10,324,743,884	12,198,893,525
Total Non-Current Liabilities Margin	91.54%	87.63%	76.29%	69.33%	65.36%	87.99%	96.16%	90.46%	84.62%	78.95%	69.90%	59.35%	59.96%	64.68%	70.89%	67.02%	57.80%	56.11%	60.74%	35.37%	45.05%	51.24%	53.60%	61.09%	56.21%	79.85%	98.14%	129.96%	216.70%
Total Liabilities	16,414,652,497	16,589,457,485	15,936,126,488	14,786,398,682	13,615,281,671	16,128,559,629	16,443,667,058	16,671,730,803	17,063,582,263	16,639,747,670	17,146,134,369	14,795,180,491	14,546,517,440	15,550,617,446	14,375,527,712	13,396,441,149	11,947,132,834	12,386,145,863	13,141,505,377	11,563,490,120	11,178,995,555	9,877,134,904	10,618,709,920	9,144,620,485	9,690,192,330	12,429,745,146	13,208,027,196	13,979,339,556	15,734,307,498
Total Liabilities Margin	148.25%	145.15%	130.79%	117.38%	110.38%	147.23%	150.30%	147.21%	143.65%	137.35%	133.84%	109.98%	108.78%	120.16%	109.45%	100.44%	91.57%	87.96%	90.14%	82.63%	85.56%	85.40%	92.37%	88.28%	95.24%	127.21%	142.19%	175.96%	279.51%
Preferred Stock	1,138,563,396	683,138,037	341,569,019	975,193,862	731,395,397	0	3,415,690,187	0	0	0	0	0	0	0	0	4,129,618,766	3,944,612,217	3,137,986,761	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Margin	10.41%	6.24%	3.12%	7.65%	5.74%	0.00%	31.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	30.96%	30.23%	22.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	3,541,454,371	3,541,516,324	3,253,226,713	2,848,078,633	2,237,363,419	3,541,454,371	3,541,454,371	3,541,454,371	3,541,454,371	3,541,764,135	3,196,222,393	3,196,222,393	3,196,222,393	3,196,222,393	2,039,795,940	2,039,795,940	2,039,795,940	2,039,795,940	2,038,402,002	2,031,122,548	2,026,088,883	0	0	0	0	0	0	0	0
Common Stock Margin	31.99%	31.00%	26.79%	22.78%	17.86%	32.33%	32.37%	31.27%	29.81%	29.23%	24.95%	23.76%	23.90%	24.70%	15.53%	15.29%	15.63%	14.49%	13.98%	14.51%	15.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	19,007,867,636	19,044,662,437	20,223,244,760	20,103,203,466	15,077,402,599	19,354,829,130	18,419,264,409	19,249,509,370	19,418,717,955	18,780,991,320	19,707,418,003	21,306,342,330	21,117,696,054	22,840,371,099	22,037,307,929	21,273,894,551	20,418,481,265	19,689,219,368	18,922,243,704	19,011,765,500	0	0	0	0	0	0	0	0	0
Retained Earnings Margin	171.67%	166.70%	164.79%	157.96%	118.47%	176.68%	168.36%	169.97%	163.47%	155.02%	153.84%	158.38%	157.92%	176.49%	167.78%	159.50%	156.50%	139.83%	129.80%	135.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accumulated OCI	-1,139,105,483	-1,436,220,786	-446,586,759	-1,045,205,689	-783,904,267	0	0	-3,417,316,448	-1,969,324,630	-1,794,462,852	-2,133,809,314	-1,371,325,228	15,119,116,194	-4,179,877,975	-4,718,867,335	-4,129,618,766	-3,944,612,217	-3,137,986,761	0	0	0	0	0	0	0	0	0	0	0
Accumulated OCI Margin	-10.06%	-12.31%	-4.36%	-8.47%	-6.35%	0.00%	0.00%	-30.17%	-16.58%	-14.81%	-16.66%	-10.19%	113.06%	-32.30%	-35.93%	-30.96%	-30.23%	-22.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	30,511,754	24,843,073	16,417,492	17,450,039	15,236,517	50,336,650	28,653,170	12,545,442	12,855,206	19,824,896	19,205,368	-21,760,921	-2,478,112	17,346,784	27,646,437	26,794,586	18,895,604	19,050,486	15,797,964	17,037,020	17,966,312	18,663,281	2,168,348	2,168,348	2,013,466	8,905,715	38,255,854	115,309,649	350,807,730
Minority Interest Margin	0.28%	0.22%	0.14%	0.14%	0.12%	0.46%	0.26%	0.11%	0.11%	0.16%	0.15%	-0.16%	-0.02%	0.13%	0.21%	0.20%	0.14%	0.14%	0.11%	0.12%	0.14%	0.16%	0.02%	0.02%	0.02%	0.09%	0.41%	1.45%	6.23%
Total Shareholders’ Equity	19,567,946,762	20,037,161,781	20,821,577,158	20,092,950,277	19,209,178,097	20,050,559,074	19,304,260,157	19,349,021,055	20,971,100,241	20,510,868,378	20,745,824,372	23,106,690,698	23,011,360,827	21,831,547,192	19,334,539,588	19,153,714,853	18,483,772,762	18,558,425,886	18,142,490,275	18,840,078,803	18,193,059,248	15,856,974,042	16,262,222,795	16,144,280,152	16,332,771,546	14,923,809,992	15,296,301,202	11,980,122,700	11,290,123,390
Total Shareholders’ Equity Margin	176.77%	175.23%	169.78%	158.27%	155.41%	183.03%	176.45%	170.85%	176.54%	169.30%	161.94%	171.76%	172.08%	168.69%	147.20%	143.61%	141.67%	131.80%	124.45%	134.63%	139.25%	137.11%	141.46%	155.84%	160.53%	152.74%	164.67%	150.80%	200.56%
Total Equity	19,598,458,516	20,062,004,854	20,837,994,650	20,110,400,316	19,224,414,614	20,100,895,724	19,332,913,327	19,361,566,497	20,983,955,447	20,530,693,274	20,765,029,740	23,084,929,777	23,008,882,715	21,848,893,976	19,362,186,025	19,180,509,439	18,502,668,366	18,577,476,372	18,158,288,239	18,857,115,823	18,211,025,560	15,875,637,323	16,264,391,143	16,146,448,500	16,334,785,012	14,932,715,707	15,334,557,056	12,095,432,349	11,640,931,120
Total Equity Margin	177.05%	175.45%	169.93%	158.41%	155.53%	183.49%	176.71%	170.96%	176.65%	169.47%	162.09%	171.60%	172.06%	168.83%	147.41%	143.81%	141.81%	131.93%	124.56%	134.75%	139.39%	137.27%	141.48%	155.87%	160.55%	152.83%	165.09%	152.25%	206.79%
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
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%
Total Investments	10,539,771,727	10,644,234,474	11,243,101,215	10,208,313,922	9,293,593,737	11,365,008,837	10,348,285,948	9,906,020,397	10,801,083,475	10,800,773,711	11,566,510,319	12,438,418,538	12,024,573,834	12,795,421,548	10,384,915,541	8,607,179,945	8,068,964,995	7,882,564,508	7,999,035,772	8,135,951,460	8,260,863,793	6,888,764,155	6,886,440,925	5,586,438,858	5,124,658,175	4,270,871,150	3,981,164,369	4,205,975,592	3,636,939,124
Total Investments Margin	95.27%	93.18%	91.65%	80.79%	74.94%	103.74%	94.59%	87.47%	90.93%	89.15%	90.29%	92.46%	89.92%	98.87%	79.06%	64.53%	61.84%	55.98%	54.87%	58.14%	63.23%	59.56%	59.90%	53.93%	50.37%	43.71%	42.86%	52.94%	64.61%
Net Debt	6,822,784,423	7,633,638,158	7,953,848,949	7,101,587,511	6,393,482,495	6,891,087,385	5,648,856,304	7,928,409,580	8,325,759,351	9,374,078,168	10,201,302,930	7,861,345,674	7,718,002,383	8,249,092,761	7,340,554,949	6,517,434,560	5,744,263,616	5,434,577,057	5,767,341,034	3,521,706,916	4,077,655,855	4,970,937,790	4,778,729,228	3,932,686,303	3,585,828,064	4,827,284,735	5,212,166,505	7,529,588,430	7,858,093,152
Net Debt Margin	61.51%	66.40%	64.74%	56.24%	51.63%	62.90%	51.63%	70.01%	70.09%	77.38%	79.63%	58.44%	57.72%	63.74%	55.89%	48.87%	44.03%	38.59%	39.56%	25.17%	31.21%	42.98%	41.57%	37.96%	35.24%	49.41%	56.11%	94.78%	139.59%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	11,073,546,727	11,442,852,530	12,292,651,344	12,797,672,500	12,431,239,757	10,954,881,301	10,940,477,275	11,325,281,604	11,878,752,431	12,114,870,040	12,810,522,543	13,452,818,197	13,372,511,880	12,941,475,274	13,134,922,892	13,337,585,989	13,047,337,121	14,081,097,030	14,578,500,573	13,994,053,346	13,064,993,669	11,565,348,704	11,495,651,804	10,359,205,129	10,174,508,344	9,770,730,970	9,288,815,627	7,944,439,867	5,629,341,172
Working Capital	724,512,182	-111,917,733	-948,009,490	-890,989,681	-792,902,911	-145,356,757	2,099,193,187	219,700,117	-716,096,927	-2,017,028,286	-2,635,084,907	-1,329,119,883	-1,293,884,228	-2,597,990,668	-1,064,426,545	-766,046,372	-1,036,702,667	-763,568,260	219,235,471	-1,537,668,496	-1,309,140,105	-1,013,625,249	-1,320,911,137	502,127,444	648,336,052	340,740,400	2,148,290,781	-785,019,417	481,218,374
Working Capital Margin	6.60%	-0.58%	-7.12%	-6.65%	-5.94%	-1.33%	19.19%	1.94%	-6.03%	-16.65%	-20.57%	-9.88%	-9.68%	-20.07%	-8.10%	-5.74%	-7.95%	-5.42%	1.50%	-10.99%	-10.02%	-8.76%	-11.49%	4.85%	6.37%	3.49%	23.13%	-9.88%	8.55%
Total Capital	28,725,912,913	29,518,712,569	29,934,245,487	28,286,177,101	26,739,750,028	29,089,240,271	28,519,429,393	28,569,069,074	30,946,430,333	30,469,393,773	31,721,227,538	31,365,076,379	31,135,851,019	30,494,020,011	27,032,717,075	26,106,987,361	24,710,106,603	24,698,490,453	24,952,496,933	24,482,120,299	23,520,303,079	21,661,176,992	22,103,442,543	21,153,473,796	22,063,947,633	22,308,893,516	22,957,074,686	20,244,935,984	20,487,093,991
Total Capital Margin	259.49%	258.10%	244.55%	223.48%	216.64%	265.54%	260.68%	252.26%	260.52%	251.50%	247.62%	233.15%	232.83%	235.63%	205.81%	195.74%	189.39%	175.40%	171.16%	174.95%	180.03%	187.29%	192.28%	204.20%	216.86%	228.32%	247.15%	254.83%	363.93%
Capital Employed	29,733,265,441	30,065,957,139	30,103,818,044	28,833,230,650	27,267,603,372	29,740,596,522	29,852,808,531	29,606,391,269	31,035,177,719	30,094,811,656	29,719,067,924	31,069,638,964	31,027,588,501	30,218,949,579	28,673,149,778	28,118,827,100	26,043,408,300	26,478,394,397	27,013,124,502	23,806,525,015	24,097,083,647	21,801,345,202	22,425,829,426	22,475,391,666	22,053,957,744	22,734,199,488	24,450,524,371	22,420,176,233	23,839,824,645
Capital Employed Margin	268.59%	263.09%	246.22%	227.74%	220.89%	271.48%	272.87%	261.42%	261.27%	248.41%	231.99%	230.95%	232.03%	233.50%	218.30%	210.82%	199.61%	188.04%	185.29%	170.12%	184.44%	188.51%	195.08%	216.96%	216.76%	232.68%	263.23%	282.21%	423.49%
Invested Capital	26,390,731,185	27,670,799,939	28,775,426,107	27,194,537,789	25,602,660,593	26,941,646,459	24,953,116,461	27,277,430,635	29,296,859,592	29,884,946,546	30,947,127,302	30,968,036,372	30,729,363,210	30,080,639,953	26,675,094,537	25,671,149,413	24,228,036,378	23,993,002,943	23,909,831,309	22,361,785,719	22,270,715,103	20,827,911,832	21,040,952,023	20,076,966,455	19,918,599,610	19,751,094,727	20,508,467,707	19,509,711,130	19,148,216,542
Invested Capital Margin	238.29%	241.64%	234.53%	214.51%	207.04%	245.93%	228.08%	240.85%	246.63%	246.68%	241.58%	230.20%	229.79%	232.44%	203.09%	192.47%	185.69%	170.39%	164.01%	159.79%	170.46%	180.09%	183.03%	193.81%	195.77%	202.15%	220.79%	245.58%	340.15%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	11,073,546,727	11,442,852,530	12,292,651,344	12,797,672,500	12,431,239,757	10,954,881,301	10,940,477,275	11,325,281,604	11,878,752,431	12,114,870,040	12,810,522,543	13,452,818,197	13,372,511,880	12,941,475,274	13,134,922,892	13,337,585,989	13,047,337,121	14,081,097,030	14,578,500,573	13,994,053,346	13,064,993,669	11,565,348,704	11,495,651,804	10,359,205,129	10,174,508,344	9,770,730,970	9,288,815,627	7,944,439,867	5,629,341,172
Net Income	2,008,200,012	1,592,465,748	2,141,042,303	2,547,829,551	2,746,568,971	3,557,097,453	744,362,892	1,723,139,691	1,508,937,885	428,790,817	832,180,986	2,396,411,745	4,238,345,930	2,983,569,407	2,997,586,228	3,456,191,830	3,367,057,239	3,199,320,033	3,341,114,504	3,443,336,624	3,485,696,851	3,056,363,947	3,471,680,030	3,215,892,407	3,484,302,913	2,621,919,937	4,328,797,018	899,167,451	1,643,685,225
Net Income Margin	18.16%	14.15%	17.26%	19.64%	22.16%	32.47%	6.80%	15.21%	12.70%	3.54%	6.50%	17.81%	31.69%	23.05%	22.82%	25.91%	25.81%	22.72%	22.92%	24.61%	26.68%	26.43%	30.20%	31.04%	34.25%	26.83%	46.60%	11.32%	29.20%
Depreciation & Amortization	1,917,619,856	1,988,065,352	1,881,220,004	1,790,647,592	1,704,205,367	1,866,792,746	1,892,658,040	1,993,408,781	2,108,331,225	2,079,135,968	1,998,210,123	1,720,893,902	1,743,584,115	1,739,479,742	1,669,705,401	1,673,809,774	1,651,584,207	1,647,479,834	1,550,059,056	1,524,580,967	1,454,341,980	1,341,820,207	1,461,234,229	1,436,220,786	1,530,776,247	1,529,459,750	1,959,721,946	1,855,486,360	1,075,345,726
Depreciation & Amortization Margin	17.31%	17.37%	15.44%	14.19%	13.86%	17.04%	17.30%	17.60%	17.75%	17.16%	15.60%	12.79%	13.04%	13.44%	12.71%	12.55%	12.66%	11.70%	10.63%	10.89%	11.13%	11.60%	12.71%	13.86%	15.05%	15.65%	21.10%	23.36%	19.10%
Deferred Income Tax	-1,356,301,674	-2,368,502,009	-2,708,367,325	-1,950,046,984	-1,462,535,238	0	0	-4,068,905,022	-4,036,147,479	-3,737,457,542	0	-3,571,656,361	-3,621,915,570	-3,887,693,082	-4,159,898,197	-894,598,432	-724,537,996	-547,895,075	0	0	0	0	0	0	0	0	0	0	0
Deferred Income Tax Margin	-11.98%	-20.15%	-21.61%	-15.48%	-11.61%	0.00%	0.00%	-35.93%	-33.98%	-30.85%	0.00%	-26.55%	-27.08%	-30.04%	-31.67%	-6.71%	-5.55%	-3.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	9,215,479	17,517,154	19,592,573	19,809,408	14,857,056	0	0	27,646,437	28,653,170	31,286,164	0	31,983,133	26,794,586	27,801,319	21,760,921	40,811,407	25,632,971	34,771,009	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.08%	0.15%	0.16%	0.15%	0.12%	0.00%	0.00%	0.24%	0.24%	0.26%	0.00%	0.24%	0.20%	0.21%	0.17%	0.31%	0.20%	0.25%	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	-20,780,002	119,739,274	-51,676,379	-50,765,157	-52,388,837	-73,336,627	65,592,527	-54,595,905	208,935,818	452,100,558	281,343,153	-97,962,865	-108,649,723	-381,164,602	-809,026,127	53,666,613	-235,807,845	-68,999,931	7,356,895	-929,292	-105,242,319	-21,760,921	80,616,081	-60,171,657	-179,740,561	-166,265,827	23,851,828	169,982,995	265,157,984
Change in Working Capital Margin	-0.18%	0.99%	-0.35%	-0.36%	-0.40%	-0.67%	0.60%	-0.48%	1.76%	3.73%	2.20%	-0.73%	-0.81%	-2.95%	-6.16%	0.40%	-1.81%	-0.49%	0.05%	-0.01%	-0.81%	-0.19%	0.70%	-0.58%	-1.77%	-1.70%	0.26%	2.14%	4.71%
Accounts Receivable	-128,861,824	17,563,619	-111,553,761	-99,862,751	-74,897,063	-396,497,920	22,612,772	-12,700,324	57,848,427	416,555,139	145,976,285	-334,235,356	-107,720,431	-434,986,097	-472,390,100	-484,470,896	-105,474,642	207,541,880	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	-1.17%	0.08%	-0.87%	-0.78%	-0.58%	-3.62%	0.21%	-0.11%	0.49%	3.44%	1.14%	-2.48%	-0.81%	-3.36%	-3.60%	-3.63%	-0.81%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	-16,907,952	-4,166,326	-4,073,397	-851,851	-5,006,561	-387,205	27,878,760	-78,215,410	774,410	29,117,816	92,541,995	-26,020,176	-45,767,631	-18,276,076	-22,380,449	-82,939,311	20,909,070	-5,343,429	70,858,515	24,471,356	-49,252,476	-32,215,456	-23,929,269	36,319,829	-18,276,076	-19,282,809	8,673,392	13,629,616	59,397,247
Inventory Margin	-0.15%	-0.04%	-0.03%	-0.01%	-0.04%	0.00%	0.25%	-0.69%	0.01%	0.24%	0.72%	-0.19%	-0.34%	-0.14%	-0.17%	-0.62%	0.16%	-0.04%	0.49%	0.17%	-0.38%	-0.28%	-0.21%	0.35%	-0.18%	-0.20%	0.09%	0.17%	1.06%
Accounts Payable	17,191,902	41,709,723	32,804,008	21,869,338	16,402,004	0	15,100,995	36,474,711	150,545,304	6,427,603	43,212,078	262,370,108	45,535,308	72,329,894	-303,955,925	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	0.15%	0.36%	0.27%	0.18%	0.13%	0.00%	0.14%	0.32%	1.27%	0.05%	0.34%	1.95%	0.34%	0.56%	-2.31%	0.00%	0.00%	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	107,797,872	64,632,259	31,146,770	28,080,107	11,112,784	323,548,498	0	-154,882	-232,323	0	-387,205	-77,441	-696,969	-232,323	-10,299,653	621,076,820	-151,242,273	-271,198,382	-63,501,620	-25,400,648	-55,989,843	10,454,535	104,545,350	-96,491,486	-161,464,485	-146,983,018	15,178,436	156,353,379	205,760,737
Other Working Capital Margin	0.98%	0.59%	0.29%	0.25%	0.09%	2.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	0.00%	-0.08%	4.66%	-1.16%	-1.93%	-0.44%	-0.18%	-0.43%	0.09%	0.91%	-0.93%	-1.59%	-1.50%	0.16%	1.97%	3.66%
Other Non-Cash Items	986,856,477	2,347,252,198	1,734,755,841	991,208,661	529,406,036	-1,781,143,000	951,052,921	3,790,659,509	3,978,066,729	4,797,624,832	1,154,103,223	3,384,481,464	2,053,502,997	-494,151,021	-486,639,244	-743,278,718	-665,140,749	-307,440,770	-476,339,591	-287,228,669	-708,120,504	-378,144,403	-790,130,523	-1,041,504,009	-1,362,109,749	-508,322,724	-2,754,189,165	-4,259,255	-637,029,666
Other Non-Cash Items Margin	8.63%	19.80%	14.10%	8.19%	4.19%	-16.26%	8.69%	33.47%	33.49%	39.60%	9.01%	25.16%	15.36%	-3.82%	-3.70%	-5.57%	-5.10%	-2.18%	-3.27%	-2.05%	-5.42%	-3.27%	-6.87%	-10.05%	-13.39%	-5.20%	-29.65%	-0.05%	-11.32%
Net Cash from Operating Activities	3,544,810,148	3,696,537,718	3,821,326,145	4,029,657,923	3,990,844,494	3,569,410,572	3,653,666,380	3,411,353,491	3,796,777,348	4,051,480,797	4,265,837,485	3,864,151,018	4,331,662,335	3,875,534,845	3,393,387,179	4,481,200,906	4,143,325,823	4,505,130,175	4,422,190,864	4,679,759,630	4,126,676,008	3,998,278,830	4,223,399,817	3,550,437,527	3,473,228,850	3,476,791,136	3,558,181,627	2,920,377,551	2,347,159,269
Net Cash from Operating Activities Margin	32.03%	32.30%	31.17%	31.52%	32.21%	32.58%	33.40%	30.12%	31.96%	33.44%	33.30%	28.72%	32.39%	29.95%	25.83%	33.60%	31.76%	31.99%	30.33%	33.44%	31.59%	34.57%	36.74%	34.27%	34.14%	35.58%	38.31%	36.76%	41.70%
Capital Expenditures (PPE)	-1,775,257,484	-1,827,638,576	-1,884,890,708	-1,888,667,247	-1,781,108,152	-1,894,981,270	-1,664,594,295	-1,766,196,887	-1,931,843,186	-1,880,577,244	-1,848,206,906	-1,593,658,339	-2,689,835,694	-1,950,196,703	-1,628,816,553	-2,480,899,876	-1,841,469,539	-1,723,217,132	-1,840,695,129	-1,594,819,954	-1,584,055,655	-1,488,416,020	-1,457,517,061	-1,388,284,807	-1,373,880,781	-1,111,665,555	-1,014,322,218	-1,292,103,085	-2,460,145,688
Capital Expenditures (PPE) Margin	-16.04%	-15.98%	-15.38%	-14.85%	-14.37%	-17.30%	-15.22%	-15.60%	-16.26%	-15.52%	-14.43%	-11.85%	-20.11%	-15.07%	-12.40%	-18.60%	-14.11%	-12.24%	-12.63%	-11.40%	-12.12%	-12.87%	-12.68%	-13.40%	-13.50%	-11.38%	-10.92%	-16.26%	-43.70%
Acquisitions (Net)	177,055,940	361,355,194	111,662,178	-83,099,356	-142,216,524	273,056,966	499,804,214	-241,693,361	1,453,567,570	-177,959,418	107,333,226	119,568,904	-150,158,099	32,680,102	-799,578,325	-346,780,798	-319,289,243	-479,437,231	-699,059,907	-518,544,936	-69,851,782	-351,040,053	-786,335,914	64,430,912	-455,043,316	1,495,463,151	222,333,111	-589,326,010	-6,939,178,246
Acquisitions (Net) Margin	1.64%	3.14%	1.05%	-0.43%	-1.04%	2.49%	4.57%	-2.13%	12.24%	-1.47%	0.84%	0.89%	-1.12%	0.25%	-6.09%	-2.60%	-2.45%	-3.40%	-4.80%	-3.71%	-0.53%	-3.04%	-6.84%	0.62%	-4.47%	15.31%	2.39%	-7.42%	-123.27%
Purchases of Investments	-627,426,982	-422,580,049	-571,142,863	-392,889,169	-294,887,584	-498,100,512	-802,443,642	-581,736,792	-211,568,812	-19,050,486	-655,925,270	-340,120,872	-464,800,882	-1,940,981,224	-196,700,140	-17,888,871	-38,410,736	-43,366,960	-66,754,142	-15,488,200	-154,882	-696,969	-851,851	-774,410	-1,936,025	-368,619,160	-258,033,412	-7,279,454	-36,474,711
Purchases of Investments Margin	-5.67%	-3.79%	-4.66%	-3.19%	-2.40%	-4.55%	-7.33%	-5.14%	-1.78%	-0.16%	-5.12%	-2.53%	-3.48%	-15.00%	-1.50%	-0.13%	-0.29%	-0.31%	-0.46%	-0.11%	0.00%	-0.01%	-0.01%	-0.01%	-0.02%	-3.77%	-2.78%	-0.09%	-0.65%
Sales / Maturities of Investments	1,467,945,782	913,215,248	699,408,392	488,275,830	407,161,546	357,854,861	2,059,620,836	1,986,361,650	149,616,012	12,622,883	29,195,257	22,922,536	1,800,193,486	105,706,965	469,989,429	58,080,750	9,912,448	261,285,934	154,882	619,528	24,703,679	2,013,466	268,023,301	411,986,120	112,366,891	118,562,171	222,565,434	479,127,467	1,835,661,464
Sales / Maturities of Investments Margin	13.21%	8.20%	5.93%	4.11%	3.46%	3.27%	18.83%	17.54%	1.26%	0.10%	0.23%	0.17%	13.46%	0.82%	3.58%	0.44%	0.08%	1.86%	0.00%	0.00%	0.19%	0.02%	2.33%	3.98%	1.10%	1.21%	2.40%	6.03%	32.61%
Other Investing Activities	-407,417,101	-243,428,039	-131,076,637	-135,614,679	-90,989,303	-101,989,797	99,124,480	-1,219,385,986	16,649,815	-11,538,709	-13,939,380	-17,579,107	-20,134,660	-21,141,393	-20,831,629	-715,090,194	-194,067,146	-124,292,805	339,269,021	-29,272,698	-153,100,857	-16,030,287	-153,952,708	400,834,616	136,683,365	308,602,385	219,622,676	20,521,865	-76,124,503
Other Investing Activities Margin	-3.60%	-2.15%	-1.15%	-1.14%	-0.73%	-0.93%	0.91%	-10.77%	0.14%	-0.10%	-0.11%	-0.13%	-0.15%	-0.16%	-0.16%	-5.36%	-1.49%	-0.88%	2.33%	-0.21%	-1.17%	-0.14%	-1.34%	3.87%	1.34%	3.16%	2.36%	0.26%	-1.35%
Net Cash from Investing Activities	-1,165,099,845	-1,219,076,222	-1,776,039,638	-1,931,745,094	-1,834,387,560	-1,864,159,752	191,511,593	-1,822,651,376	-523,578,601	-2,076,502,974	-2,381,543,073	-1,808,866,878	-1,524,735,849	-3,773,932,253	-2,175,937,218	-2,754,498,929	-2,169,277,292	-1,980,011,488	-2,175,317,690	-2,136,674,631	-1,687,594,272	-1,851,304,546	-2,128,233,562	-509,561,780	-1,534,880,620	448,073,626	-600,400,073	-1,388,594,571	-7,538,803,909
Net Cash from Investing Activities Margin	-10.45%	-10.58%	-14.21%	-14.91%	-14.55%	-17.02%	1.75%	-16.09%	-4.41%	-17.14%	-18.59%	-13.45%	-11.40%	-29.16%	-16.57%	-20.65%	-16.63%	-14.06%	-14.92%	-15.27%	-12.92%	-16.01%	-18.51%	-4.92%	-15.09%	4.59%	-6.46%	-17.48%	-133.92%
Net Debt Issuance	115,283,835	-549,149,619	-48,323,184	82,872,195	11,755,544	-12,545,442	512,736,861	-154,339,913	-1,780,678,354	-1,310,921,248	562,376,542	164,562,125	-241,538,479	915,662,384	861,453,684	580,962,382	185,626,077	-623,709,814	935,177,516	648,258,611	-158,289,404	-466,814,348	903,581,588	-551,612,243	-734,837,649	-338,107,406	-185,316,313	-1,022,453,523	4,078,197,942
Net Debt Issuance Margin	1.07%	-4.52%	-0.52%	0.48%	-0.13%	-0.11%	4.69%	-1.36%	-14.99%	-10.82%	4.39%	1.22%	-1.81%	7.08%	6.56%	4.36%	1.42%	-4.43%	6.41%	4.63%	-1.21%	-4.04%	7.86%	-5.32%	-7.22%	-3.46%	-2.00%	-12.87%	72.45%
Long-Term Debt Issuance	113,141,301	-483,944,297	17,749,477	125,278,887	48,141,198	-12,545,442	512,736,861	-160,767,516	-1,780,678,354	-978,467,035	875,160,741	164,562,125	-219,622,676	915,662,384	861,453,684	580,962,382	185,626,077	-648,336,052	935,177,516	648,258,611	-150,235,540	-465,652,733	903,581,588	-551,612,243	-652,440,425	-295,514,856	-185,316,313	-1,022,453,523	4,078,197,942
Long-Term Debt Issuance Margin	1.05%	-3.98%	0.01%	0.82%	0.16%	-0.11%	4.69%	-1.42%	-14.99%	-8.08%	6.83%	1.22%	-1.64%	7.08%	6.56%	4.36%	1.42%	-4.60%	6.41%	4.63%	-1.15%	-4.03%	7.86%	-5.32%	-6.41%	-3.02%	-2.00%	-12.87%	72.45%
Short-Term Debt Issuance	2,142,534	-65,205,322	-66,072,661	-42,406,692	-36,323,701	0	0	6,427,603	0	-332,454,213	-312,784,199	0	-21,915,803	0	0	0	0	24,626,238	0	0	-8,053,864	77,441	0	0	-82,397,224	-42,592,550	0	0	0
Short-Term Debt Issuance Margin	0.02%	-0.54%	-0.53%	-0.34%	-0.30%	0.00%	0.00%	0.06%	0.00%	-2.74%	-2.44%	0.00%	-0.16%	0.00%	0.00%	0.00%	0.00%	0.17%	0.00%	0.00%	-0.06%	0.00%	0.00%	0.00%	-0.81%	-0.44%	0.00%	0.00%	0.00%
Net Stock Issuance	-30,331,058	-24,254,521	100,742,997	58,395,677	-46,015,442	-37,404,003	-25,323,207	-28,265,965	-18,121,194	-12,158,237	-17,811,430	-19,824,896	-19,360,250	1,219,850,632	-34,151,481	-42,360,227	-28,343,406	-27,104,350	-8,208,746	-25,478,089	-41,585,817	-39,649,792	-23,929,269	-1,753,341,681	62,262,564	-2,258,489,324	28,575,729	0	0
Net Stock Issuance Margin	-0.27%	-0.22%	0.77%	0.45%	-0.52%	-0.34%	-0.23%	-0.25%	-0.15%	-0.10%	-0.14%	-0.15%	-0.14%	9.43%	-0.26%	-0.32%	-0.22%	-0.19%	-0.06%	-0.18%	-0.32%	-0.34%	-0.21%	-16.93%	0.61%	-23.11%	0.31%	0.00%	0.00%
Common Stock Issuance	-12,468,001	-7,480,801	120,351,058	81,147,843	69,154,813	-37,404,003	0	0	0	0	0	0	0	1,240,914,584	0	0	0	1,393,938	7,279,454	5,033,665	8,286,187	9,215,479	24,471,356	45,690,190	78,215,410	88,979,709	28,575,729	0	0
Common Stock Issuance Margin	-0.11%	-0.07%	0.92%	0.62%	0.55%	-0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.59%	0.00%	0.00%	0.00%	0.01%	0.05%	0.04%	0.06%	0.08%	0.21%	0.44%	0.77%	0.91%	0.31%	0.00%	0.00%
Common Stock Repurchased	-17,863,057	-16,773,721	-19,608,061	-22,752,166	-115,170,255	0	-25,323,207	-28,265,965	-18,121,194	-12,158,237	-17,811,430	-19,824,896	-19,360,250	-21,063,952	-34,151,481	-42,360,227	-28,343,406	-28,498,288	-15,488,200	-30,511,754	-49,872,004	-48,865,271	-48,400,625	-1,799,031,871	-15,952,846	-2,347,469,033	0	0	0
Common Stock Repurchased Margin	-0.16%	-0.15%	-0.16%	-0.18%	-1.07%	0.00%	-0.23%	-0.25%	-0.15%	-0.10%	-0.14%	-0.15%	-0.14%	-0.16%	-0.26%	-0.32%	-0.22%	-0.20%	-0.11%	-0.22%	-0.38%	-0.42%	-0.42%	-17.37%	-0.16%	-24.03%	0.00%	0.00%	0.00%
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
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%
Net Dividends Paid	-1,777,167,695	-1,439,876,001	-1,855,556,057	-1,977,424,959	-1,858,204,539	-2,148,368,222	-1,661,961,301	-1,521,173,563	-882,130,431	-985,746,489	-2,212,257,047	-2,212,179,606	-2,591,408,183	-2,180,351,355	-2,159,984,372	-2,073,482,775	-2,073,715,098	-1,949,732,057	-3,183,909,274	-1,824,974,606	-1,613,870,440	-1,540,611,254	-1,970,641,127	-1,034,921,524	-1,342,672,058	-708,740,032	-592,268,768	-592,191,327	-540,073,534
Net Dividends Paid Margin	-16.08%	-12.76%	-15.02%	-15.36%	-14.82%	-19.61%	-15.19%	-13.43%	-7.43%	-8.14%	-17.27%	-16.44%	-19.38%	-16.85%	-16.44%	-15.55%	-15.89%	-13.85%	-21.84%	-13.04%	-12.35%	-13.32%	-17.14%	-9.99%	-13.20%	-7.25%	-6.38%	-7.45%	-9.59%
Common Dividends Paid	-1,581,138,711	-1,322,258,610	-1,796,747,362	-1,938,219,162	-1,885,920,673	-2,148,368,222	-1,367,840,383	-1,227,207,527	-882,130,431	-985,746,489	-2,212,257,047	-2,212,179,606	-2,591,408,183	-2,180,351,355	-2,159,984,372	-2,073,482,775	-2,073,715,098	-1,949,732,057	-3,183,909,274	-1,824,974,606	-1,613,870,440	-1,540,611,254	-2,660,408,114	-1,487,564,169	-1,342,672,058	-708,740,032	-592,268,768	-592,191,327	-540,073,534
Common Dividends Paid Margin	-14.32%	-11.70%	-14.49%	-15.00%	-15.07%	-19.61%	-12.50%	-10.84%	-7.43%	-8.14%	-17.27%	-16.44%	-19.38%	-16.85%	-16.44%	-15.55%	-15.89%	-13.85%	-21.84%	-13.04%	-12.35%	-13.32%	-23.14%	-14.36%	-13.20%	-7.25%	-6.38%	-7.45%	-9.59%
Preferred Dividends Paid	-196,028,985	-117,617,391	-58,808,695	-39,205,797	-29,404,348	0	-294,120,918	-293,966,036	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	-1.76%	-1.06%	-0.53%	-0.35%	-0.26%	0.00%	-2.69%	-2.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-511,988,265	-182,342,579	-73,901,946	-202,141,661	-226,119,976	-920,696,049	-368,619,160	-246,649,585	481,837,902	142,413,999	131,649,700	-542,087	41,740,699	-10,222,212	10,067,330	-254,471,126	-270,966,059	-266,551,922	-1,045,298,618	-455,817,726	-226,360,043	-289,939,104	-318,979,479	-319,599,007	-335,396,971	-177,494,772	-495,390,077	-520,790,725	-179,121,033
Other Financing Activities Margin	-4.65%	-1.74%	-0.74%	-1.58%	-1.85%	-8.40%	-3.37%	-2.18%	4.06%	1.18%	1.03%	0.00%	0.31%	-0.08%	0.08%	-1.91%	-2.08%	-1.89%	-7.17%	-3.26%	-1.73%	-2.51%	-2.77%	-3.09%	-3.30%	-1.82%	-5.33%	-6.56%	-3.18%
Net Cash from Financing Activities	-2,204,203,183	-2,195,622,720	-1,877,038,190	-2,038,298,747	-2,175,704,895	-3,119,013,716	-1,543,166,807	-1,950,429,026	-2,199,092,077	-2,166,411,975	-1,536,042,235	-2,067,984,464	-2,810,566,213	-55,060,551	-1,322,614,839	-1,789,351,746	-2,187,398,486	-2,867,098,143	-3,302,239,122	-1,658,011,810	-2,040,105,704	-2,337,014,498	-2,099,735,274	-4,112,117,100	-2,350,644,114	-3,817,144,331	-1,244,399,429	-2,135,435,575	3,359,003,375
Net Cash from Financing Activities Margin	-19.93%	-19.24%	-15.51%	-16.01%	-17.85%	-28.47%	-14.11%	-17.22%	-18.51%	-17.88%	-11.99%	-15.37%	-21.02%	-0.43%	-10.07%	-13.42%	-16.77%	-20.36%	-22.65%	-11.85%	-15.62%	-20.21%	-18.27%	-39.70%	-23.10%	-39.07%	-13.40%	-26.88%	59.67%
Effect of FX on Cash	-16,210,983	-6,768,343	3,113,128	382,042	-1,169,359	-2,865,317	-16,804,697	-28,962,934	16,417,492	-1,626,261	28,808,052	3,252,522	-3,252,522	9,215,479	26,949,468	16,417,492	-10,067,330	4,801,342	-22,303,008	-14,249,144	17,424,225	-39,262,587	-9,447,802	2,323,230	-154,882	1,471,379	0	0	0
Effect of FX on Cash Margin	-0.15%	-0.06%	0.02%	0.00%	-0.01%	-0.03%	-0.15%	-0.26%	0.14%	-0.01%	0.22%	0.02%	-0.02%	0.07%	0.21%	0.12%	-0.08%	0.03%	-0.15%	-0.10%	0.13%	-0.34%	-0.08%	0.02%	0.00%	0.02%	0.00%	0.00%	0.00%
Net Change in Cash	170,215,318	277,223,292	172,437,875	60,713,744	-19,879,105	-1,416,628,213	2,285,206,469	-357,932,302	1,065,123,514	-189,653,009	377,060,229	-9,447,802	-6,892,249	55,757,520	-78,215,410	-46,232,277	-223,417,285	-337,178,114	-1,077,668,956	870,824,045	416,400,257	-229,302,801	-14,016,821	-1,068,918,123	-412,450,766	109,191,810	1,713,382,125	-603,652,595	-1,832,641,265
Net Change in Cash Margin	1.60%	2.44%	1.49%	0.62%	-0.20%	-12.93%	20.89%	-3.16%	8.97%	-1.57%	2.94%	-0.07%	-0.05%	0.43%	-0.60%	-0.35%	-1.71%	-2.39%	-7.39%	6.22%	3.19%	-1.98%	-0.12%	-10.32%	-4.05%	1.12%	18.45%	-7.60%	-32.56%
Cash at Beginning of Period	2,160,449,018	1,567,978,903	985,026,288	1,030,022,090	1,156,271,571	3,558,491,391	1,273,284,922	1,649,570,741	584,447,227	774,100,236	397,040,007	406,487,809	413,380,058	357,622,538	435,837,948	482,070,225	705,487,510	1,042,665,624	2,120,334,580	1,249,510,535	833,110,278	1,062,413,079	1,076,429,900	2,145,348,023	2,557,798,789	2,448,606,979	735,224,854	1,338,877,449	3,171,518,714
Cash at Beginning of Period Margin	19.56%	14.00%	8.53%	8.35%	9.80%	32.48%	11.64%	14.57%	4.92%	6.39%	3.10%	3.02%	3.09%	2.76%	3.32%	3.61%	5.41%	7.40%	14.54%	8.93%	6.38%	9.19%	9.36%	20.71%	25.14%	25.06%	7.92%	16.85%	56.34%
Cash at End of Period	2,330,664,336	1,845,202,195	1,157,464,162	1,090,735,834	1,136,392,466	2,141,863,178	3,558,491,391	1,291,638,439	1,649,570,741	584,447,227	774,100,236	397,040,007	406,487,809	413,380,058	357,622,538	435,837,948	482,070,225	705,487,510	1,042,665,624	2,120,334,580	1,249,510,535	833,110,278	1,062,413,079	1,076,429,900	2,145,348,023	2,557,798,789	2,448,606,979	735,224,854	1,338,877,449
Cash at End of Period Margin	21.16%	16.44%	10.01%	8.96%	9.60%	19.55%	32.53%	11.40%	13.89%	4.82%	6.04%	2.95%	3.04%	3.19%	2.72%	3.27%	3.69%	5.01%	7.15%	15.15%	9.56%	7.20%	9.24%	10.39%	21.09%	26.18%	26.36%	9.25%	23.78%
Operating Cash Flow	3,544,810,148	3,696,537,718	3,821,326,145	4,029,657,923	3,990,844,494	3,569,410,572	3,653,666,380	3,411,353,491	3,796,777,348	4,051,480,797	4,265,837,485	3,864,151,018	4,331,662,335	3,875,534,845	3,393,387,179	4,481,200,906	4,143,325,823	4,505,130,175	4,422,190,864	4,679,759,630	4,126,676,008	3,998,278,830	4,223,399,817	3,550,437,527	3,473,228,850	3,476,791,136	3,558,181,627	2,920,377,551	2,347,159,269
Operating Cash Flow Margin	32.03%	32.30%	31.17%	31.52%	32.21%	32.58%	33.40%	30.12%	31.96%	33.44%	33.30%	28.72%	32.39%	29.95%	25.83%	33.60%	31.76%	31.99%	30.33%	33.44%	31.59%	34.57%	36.74%	34.27%	34.14%	35.58%	38.31%	36.76%	41.70%
Capital Expenditure	-2,297,364,706	-2,140,902,910	-2,041,522,874	-1,993,088,692	-1,859,424,235	-3,296,353,606	-1,829,543,625	-1,766,196,887	-1,931,843,186	-1,880,577,244	-1,848,206,906	-1,593,658,339	-2,689,835,694	-1,950,196,703	-1,628,816,553	-2,480,899,876	-1,841,469,539	-1,723,217,132	-1,840,695,129	-1,594,819,954	-1,584,055,655	-1,488,416,020	-1,457,517,061	-1,388,284,807	-1,373,880,781	-1,111,665,555	-1,014,322,218	-1,292,103,085	-2,460,145,688
Capital Expenditure Margin	-20.80%	-18.84%	-16.81%	-15.80%	-15.08%	-30.09%	-16.72%	-15.60%	-16.26%	-15.52%	-14.43%	-11.85%	-20.11%	-15.07%	-12.40%	-18.60%	-14.11%	-12.24%	-12.63%	-11.40%	-12.12%	-12.87%	-12.68%	-13.40%	-13.50%	-11.38%	-10.92%	-16.26%	-43.70%
Free Cash Flow	1,247,445,442	1,555,634,808	1,779,803,271	2,036,569,232	2,131,420,259	273,056,966	1,824,122,755	1,645,156,604	1,864,934,162	2,170,903,553	2,417,630,579	2,270,492,679	1,641,826,641	1,925,338,142	1,764,570,626	2,000,301,030	2,301,856,284	2,781,913,043	2,581,495,735	3,084,939,676	2,542,620,353	2,509,862,810	2,765,882,756	2,162,152,720	2,099,348,069	2,365,125,581	2,543,859,409	1,628,274,466	-112,986,419
Free Cash Flow Margin	11.23%	13.46%	14.36%	15.72%	17.13%	2.49%	16.67%	14.53%	15.70%	17.92%	18.87%	16.88%	12.28%	14.88%	13.43%	15.00%	17.64%	19.76%	17.71%	22.04%	19.46%	21.70%	24.06%	20.87%	20.63%	24.21%	27.39%	20.50%	-2.01%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	11,073,546,727	11,442,852,530	12,292,651,344	12,797,672,500	12,431,239,757	10,954,881,301	10,940,477,275	11,325,281,604	11,878,752,431	12,114,870,040	12,810,522,543	13,452,818,197	13,372,511,880	12,941,475,274	13,134,922,892	13,337,585,989	13,047,337,121	14,081,097,030	14,578,500,573	13,994,053,346	13,064,993,669	11,565,348,704	11,495,651,804	10,359,205,129	10,174,508,344	9,770,730,970	9,288,815,627	7,944,439,867	5,629,341,172
EBITDA	3,590,061,505	3,210,285,679	3,502,594,477	4,009,951,770	4,237,041,049	5,770,670,997	1,911,785,967	3,087,727,552	3,286,208,835	1,995,035,042	3,553,070,521	3,626,716,912	3,916,036,488	3,927,962,402	3,950,730,056	5,369,061,971	5,244,846,607	5,112,112,733	4,114,517,771	5,282,792,697	5,198,924,094	4,677,513,841	5,237,179,948	4,978,449,567	4,499,476,982	4,529,678,972	4,428,928,231	3,168,498,515	2,929,283,266
EBITDA Margin	32.47%	28.31%	28.60%	31.25%	34.34%	52.68%	17.47%	27.26%	27.66%	16.47%	27.74%	26.96%	29.28%	30.35%	30.08%	40.26%	40.20%	36.30%	28.22%	37.75%	39.79%	40.44%	45.56%	48.06%	44.22%	46.36%	47.68%	39.88%	52.04%
(-) Tax Adjustment	724,510,380	979,740,918	1,520,218,683	1,244,727,491	1,067,157,390	709,697,178	313,658,601	1,150,175,361	1,984,618,274	740,555,176	6,351,221,844	1,120,973,146	632,736,595	1,094,717,379	1,103,833,275	816,246,594	833,549,301	768,060,507	309,847,678	741,021,457	686,783,290	589,622,504	610,167,095	447,649,257	338,013,295	156,666,393	770,851,243	148,450,882	687,294,731
(-) Tax Adjustment Margin	6.50%	8.46%	12.18%	9.81%	8.53%	6.48%	2.87%	10.16%	16.71%	6.11%	49.58%	8.33%	4.73%	8.46%	8.40%	6.12%	6.39%	5.45%	2.13%	5.30%	5.26%	5.10%	5.31%	4.32%	3.32%	1.60%	8.30%	1.87%	12.21%
(-) Change In Working Capital	-20,780,002	119,739,274	-51,676,379	-50,765,157	-52,388,837	-73,336,627	65,592,527	-54,595,905	208,935,818	452,100,558	281,343,153	-97,962,865	-108,649,723	-381,164,602	-809,026,127	53,666,613	-235,807,845	-68,999,931	7,356,895	-929,292	-105,242,319	-21,760,921	80,616,081	-60,171,657	-179,740,561	-166,265,827	23,851,828	169,982,995	265,157,984
(-) Change In Working Capital Margin	-0.18%	0.99%	-0.35%	-0.36%	-0.40%	-0.67%	0.60%	-0.48%	1.76%	3.73%	2.20%	-0.73%	-0.81%	-2.95%	-6.16%	0.40%	-1.81%	-0.49%	0.05%	-0.01%	-0.81%	-0.19%	0.70%	-0.58%	-1.77%	-1.70%	0.26%	2.14%	4.71%
(-) Capital Expenditure	-2,297,364,706	-2,140,902,910	-2,041,522,874	-1,993,088,692	-1,859,424,235	-3,296,353,606	-1,829,543,625	-1,766,196,887	-1,931,843,186	-1,880,577,244	-1,848,206,906	-1,593,658,339	-2,689,835,694	-1,950,196,703	-1,628,816,553	-2,480,899,876	-1,841,469,539	-1,723,217,132	-1,840,695,129	-1,594,819,954	-1,584,055,655	-1,488,416,020	-1,457,517,061	-1,388,284,807	-1,373,880,781	-1,111,665,555	-1,014,322,218	-1,292,103,085	-2,460,145,688
(-) Capital Expenditure Margin	-20.80%	-18.84%	-16.81%	-15.80%	-15.08%	-30.09%	-16.72%	-15.60%	-16.26%	-15.52%	-14.43%	-11.85%	-20.11%	-15.07%	-12.40%	-18.60%	-14.11%	-12.24%	-12.63%	-11.40%	-12.12%	-12.87%	-12.68%	-13.40%	-13.50%	-11.38%	-10.92%	-16.26%	-43.70%
Unlevered Free Cash Flow	588,966,421	-30,097,423	-7,470,701	822,900,744	1,362,848,261	1,837,956,840	-297,008,786	225,951,209	-839,188,443	-1,078,197,936	-4,927,701,382	1,010,048,292	702,113,922	1,264,212,922	2,027,106,355	2,018,248,888	2,805,635,612	2,689,835,025	1,956,618,069	2,947,880,578	3,033,327,468	2,621,236,238	3,088,879,711	3,202,687,160	2,967,323,467	3,427,612,851	2,619,902,942	1,557,961,553	-483,315,137
Unlevered Free Cash Flow Margin	5.35%	0.02%	-0.04%	5.99%	11.13%	16.78%	-2.71%	2.00%	-7.06%	-8.90%	-38.47%	7.51%	5.25%	9.77%	15.43%	15.13%	21.50%	19.10%	13.42%	21.07%	23.22%	22.66%	26.87%	30.92%	29.16%	35.08%	28.20%	19.61%	-8.59%
(-) Net Interest Income After Taxes	-202,671,768	-187,590,136	-147,162,321	-167,728,364	-177,936,746	-221,545,374	-203,658,148	-182,811,781	-129,652,959	-200,282,419	275,356,972	-205,726,528	-242,572,544	-185,952,302	-174,778,123	-172,378,018	-158,209,298	-190,245,179	-275,265,887	-248,203,867	-224,686,250	-211,294,461	-120,895,660	-235,466,017	-250,467,084	-298,078,389	-105,665,982	-388,993,059	-49,254,282
(-) Net Interest Income After Taxes Margin	-1.83%	-1.65%	-1.22%	-1.31%	-1.45%	-2.02%	-1.86%	-1.61%	-1.09%	-1.65%	2.15%	-1.53%	-1.81%	-1.44%	-1.33%	-1.29%	-1.21%	-1.35%	-1.89%	-1.77%	-1.72%	-1.83%	-1.05%	-2.27%	-2.46%	-3.05%	-1.14%	-4.90%	-0.87%
Net Debt Issuance	115,283,835	-549,149,619	-48,323,184	82,872,195	11,755,544	-12,545,442	512,736,861	-154,339,913	-1,780,678,354	-1,310,921,248	562,376,542	164,562,125	-241,538,479	915,662,384	861,453,684	580,962,382	185,626,077	-623,709,814	935,177,516	648,258,611	-158,289,404	-466,814,348	903,581,588	-551,612,243	-734,837,649	-338,107,406	-185,316,313	-1,022,453,523	4,078,197,942
Net Debt Issuance Margin	1.07%	-4.52%	-0.52%	0.48%	-0.13%	-0.11%	4.69%	-1.36%	-14.99%	-10.82%	4.39%	1.22%	-1.81%	7.08%	6.56%	4.36%	1.42%	-4.43%	6.41%	4.63%	-1.21%	-4.04%	7.86%	-5.32%	-7.22%	-3.46%	-2.00%	-12.87%	72.45%
Levered Free Cash Flow	906,922,024	-391,656,906	91,368,436	1,073,501,304	1,552,540,551	2,046,956,772	419,386,223	254,423,077	-2,490,213,838	-2,188,836,765	-4,640,681,812	1,380,336,946	703,147,987	2,365,827,608	3,063,338,162	2,771,589,288	3,149,470,988	2,256,370,390	3,167,061,471	3,844,343,056	3,099,724,314	2,365,716,351	4,113,356,959	2,886,540,934	2,482,952,902	3,387,583,834	2,540,252,612	924,501,089	3,644,137,087
Levered Free Cash Flow Margin	8.26%	-2.85%	0.66%	7.78%	12.45%	18.69%	3.83%	2.25%	-20.96%	-18.07%	-36.23%	10.26%	5.26%	18.28%	23.32%	20.78%	24.14%	16.02%	21.72%	27.47%	23.73%	20.46%	35.78%	27.86%	24.40%	34.67%	27.35%	11.64%	64.73%