ArcBest Corporation (ARCB)

Analysis: Margins & Ratios Industry: Trucking Sector: Industrials Live Price: $90.55

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	4,545,156,667	4,068,363,600	3,461,749,700	3,010,747,400	2,702,290,550	2,476,899,480	2,328,485,867	4,039,115,000	4,266,909,000	4,179,019,000	4,427,443,000	5,029,008,000	3,766,185,000	2,940,163,000	2,988,310,000	3,093,788,000	2,826,457,000	2,700,219,000	2,666,905,000	2,612,693,000	2,299,549,000	2,065,999,000	1,907,609,000	1,657,864,000	1,472,901,000	1,833,052,000	1,836,878,000	1,881,500,000	1,860,269,000	1,715,763,000	1,441,043,000	1,329,642,000	1,550,661,000	1,839,567,000	1,721,586,000	1,607,403,000	1,593,200,000	1,604,300,000	1,405,600,000
Cost of Revenue	4,111,171,000	3,681,080,800	3,164,667,400	2,737,992,400	2,315,243,400	2,010,106,520	1,896,057,133	2,768,601,000	3,883,929,000	3,829,019,000	4,049,010,000	4,455,484,000	3,359,856,000	2,712,035,000	2,771,880,000	2,821,115,000	2,638,002,000	2,537,451,000	2,472,822,000	2,425,336,000	2,175,065,000	1,981,604,000	1,440,461,000	1,400,746,000	1,288,369,000	1,507,499,000	1,481,031,000	202,417,000	755,666,000	690,468,000	485,589,000	556,701,000	1,450,272,000	764,765,000	738,551,000	1,486,600,000	1,475,600,000	1,557,600,000	1,370,700,000
Cost of Revenue Margin	90.56%	90.63%	91.71%	90.70%	83.11%	76.52%	77.86%	68.54%	91.02%	91.62%	91.45%	88.60%	89.21%	92.24%	92.76%	91.19%	93.33%	93.97%	92.72%	92.83%	94.59%	95.92%	75.51%	84.49%	87.47%	82.24%	80.63%	10.76%	40.62%	40.24%	33.70%	41.87%	93.53%	41.57%	42.90%	92.48%	92.62%	97.09%	97.52%
Gross Profit	433,985,667	387,282,800	297,082,300	272,755,000	385,996,000	469,409,240	434,608,967	1,270,514,000	382,980,000	350,000,000	378,433,000	573,524,000	406,329,000	228,128,000	216,430,000	272,673,000	188,455,000	162,768,000	194,083,000	187,357,000	124,484,000	84,395,000	467,148,000	257,118,000	184,532,000	325,553,000	355,847,000	1,658,060,000	1,104,603,000	1,025,295,000	1,041,884,000	772,941,000	100,389,000	1,074,802,000	983,035,000	120,803,000	117,600,000	46,700,000	34,900,000
Gross Profit Margin	9.44%	9.37%	8.29%	9.30%	16.84%	23.67%	22.31%	31.46%	8.98%	8.38%	8.55%	11.40%	10.79%	7.76%	7.24%	8.81%	6.67%	6.03%	7.28%	7.17%	5.41%	4.08%	24.49%	15.51%	12.53%	17.76%	19.37%	88.12%	59.38%	59.76%	72.30%	58.13%	6.47%	58.43%	57.10%	7.52%	7.38%	2.91%	2.48%
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	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	49,441,667	192,058,400	138,858,000	120,572,800	127,018,650	129,192,320	126,646,767	0	0	0	73,736,000	74,589,000	452,242,000	359,725,000	357,864,000	36,697,000	33,727,000	0	0	0	0	0	386,579,000	33,433,000	34,749,000	36,472,000	37,564,000	451,767,000	171,229,000	175,377,000	16,144,000	137,867,000	134,982,000	225,065,000	232,795,000	50,900,000	101,400,000	103,200,000	81,300,000
SG&A Expenses Margin	1.05%	5.48%	4.17%	4.27%	5.18%	5.85%	6.05%	0.00%	0.00%	0.00%	1.67%	1.48%	12.01%	12.23%	11.98%	1.19%	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%	20.27%	2.02%	2.36%	1.99%	2.04%	24.01%	9.20%	10.22%	1.12%	10.37%	8.70%	12.23%	13.52%	3.17%	6.36%	6.43%	5.78%
Operating Expenses	163,459,333	149,915,800	144,021,100	168,783,867	296,892,500	374,776,880	349,188,500	1,133,787,000	112,454,000	105,566,000	205,814,000	178,998,000	129,351,000	129,850,000	152,660,000	163,575,000	127,107,000	128,703,000	118,587,000	118,118,000	105,414,000	98,963,000	457,389,000	311,663,000	353,238,000	277,029,000	271,003,000	1,554,404,000	950,418,000	900,996,000	869,151,000	702,320,000	24,455,000	934,650,000	873,328,000	50,826,000	54,692,000	69,028,000	58,359,000
Operating Expenses Margin	3.58%	3.72%	4.27%	6.62%	14.35%	20.20%	19.02%	28.07%	2.64%	2.53%	4.65%	3.56%	3.43%	4.42%	5.11%	5.29%	4.50%	4.77%	4.45%	4.52%	4.58%	4.79%	23.98%	18.80%	23.98%	15.11%	14.75%	82.62%	51.09%	52.51%	60.31%	52.82%	1.58%	50.81%	50.73%	3.16%	3.43%	4.30%	4.15%
Operating Income (EBIT)	270,526,333	237,367,000	153,061,200	103,971,133	90,154,650	92,016,080	83,240,233	136,727,000	270,526,000	244,434,000	172,619,000	394,526,000	276,978,000	98,278,000	63,770,000	109,098,000	61,348,000	34,065,000	75,496,000	69,239,000	19,070,000	-14,568,000	9,759,000	-54,545,000	-168,706,000	48,524,000	84,844,000	124,679,000	154,185,000	124,299,000	86,303,000	70,621,000	75,934,000	140,152,000	109,707,000	69,977,000	62,908,000	-22,328,000	-23,459,000
Operating Income (EBIT) Margin	5.86%	5.66%	4.02%	2.68%	2.55%	3.28%	3.12%	3.39%	6.34%	5.85%	3.90%	7.85%	7.35%	3.34%	2.13%	3.53%	2.17%	1.26%	2.83%	2.65%	0.83%	-0.71%	0.51%	-3.29%	-11.45%	2.65%	4.62%	6.63%	8.29%	7.24%	5.99%	5.31%	4.90%	7.62%	6.37%	4.35%	3.95%	-1.39%	-1.67%
Interest Income	10,073,000	7,012,200	4,952,800	3,608,733	3,429,600	2,743,680	2,286,400	5,487,000	13,810,000	11,618,000	14,728,000	3,873,000	1,226,000	3,616,000	6,453,000	3,914,000	1,293,000	1,523,000	1,284,000	851,000	681,000	808,000	1,069,000	1,194,000	2,853,000	5,937,000	5,671,000	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.23%	0.17%	0.13%	0.10%	0.12%	0.10%	0.08%	0.14%	0.32%	0.28%	0.33%	0.08%	0.03%	0.12%	0.22%	0.13%	0.05%	0.06%	0.05%	0.03%	0.03%	0.04%	0.06%	0.07%	0.19%	0.32%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	8,600,000	9,282,200	8,323,800	6,845,933	5,372,400	4,297,920	3,581,600	11,438,000	8,913,000	8,980,000	9,094,000	7,726,000	8,914,000	11,697,000	11,467,000	9,468,000	6,342,000	5,150,000	4,400,000	3,190,000	4,183,000	5,273,000	3,953,000	2,852,000	2,389,000	1,181,000	1,189,000	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	0.19%	0.24%	0.25%	0.23%	0.19%	0.15%	0.12%	0.28%	0.21%	0.21%	0.21%	0.15%	0.24%	0.40%	0.38%	0.31%	0.22%	0.19%	0.16%	0.12%	0.18%	0.26%	0.21%	0.17%	0.16%	0.06%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Interest Income	1,473,000	-2,270,000	-3,371,000	-3,237,200	-1,942,800	-1,554,240	-1,295,200	-5,951,000	4,897,000	2,638,000	5,634,000	-3,853,000	-7,688,000	-8,081,000	-5,014,000	-5,554,000	-5,049,000	-3,627,000	-3,116,000	-2,339,000	-3,502,000	-4,465,000	-2,884,000	-1,658,000	464,000	4,756,000	4,482,000	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	0.04%	-0.07%	-0.11%	-0.12%	-0.07%	-0.05%	-0.04%	-0.15%	0.11%	0.06%	0.13%	-0.08%	-0.20%	-0.27%	-0.17%	-0.18%	-0.18%	-0.13%	-0.12%	-0.09%	-0.15%	-0.22%	-0.15%	-0.10%	0.03%	0.26%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	4,409,333	7,734,000	11,635,300	8,758,600	4,349,550	4,891,880	7,714,067	11,568,000	16,569,000	23,082,000	-19,930,000	10,076,000	11,579,000	13,863,000	17,313,000	30,266,000	14,821,000	9,405,000	5,878,000	966,000	3,111,000	6,889,000	3,150,000	910,000	-3,652,000	-6,142,000	-10,429,000	-6,840,000	-17,325,000	-1,674,000	13,521,000	3,215,000	9,215,000	11,029,000	22,070,000	15,534,000	20,608,000	30,672,000	20,241,000
Unusual Items Margin	0.10%	0.22%	0.37%	0.30%	0.10%	0.17%	0.37%	0.29%	0.39%	0.55%	-0.45%	0.20%	0.31%	0.47%	0.58%	0.98%	0.52%	0.35%	0.22%	0.04%	0.14%	0.33%	0.17%	0.05%	-0.25%	-0.34%	-0.57%	-0.36%	-0.93%	-0.10%	0.94%	0.24%	0.59%	0.60%	1.28%	0.97%	1.29%	1.91%	1.44%
EBT Excluding Unusual Items	260,234,667	224,169,000	133,161,600	89,691,133	83,398,350	83,786,560	69,107,300	119,542,000	232,491,000	195,632,000	206,845,000	378,227,000	261,508,000	78,633,000	34,158,000	54,120,000	36,755,000	18,882,000	66,856,000	69,646,000	16,350,000	-23,881,000	6,343,000	-54,707,000	-161,866,000	56,052,000	101,220,000	138,359,000	188,835,000	127,647,000	59,261,000	64,191,000	57,504,000	118,094,000	65,567,000	38,909,000	21,692,000	-83,672,000	-63,941,000
EBT Excluding Unusual Items Margin	5.62%	5.30%	3.39%	2.21%	2.41%	2.99%	2.42%	2.96%	5.45%	4.68%	4.67%	7.52%	6.94%	2.67%	1.14%	1.75%	1.30%	0.70%	2.51%	2.67%	0.71%	-1.16%	0.33%	-3.30%	-10.99%	3.06%	5.51%	7.35%	10.15%	7.44%	4.11%	4.83%	3.71%	6.42%	3.81%	2.42%	1.36%	-5.22%	-4.55%
Pre-Tax Income	264,644,000	231,903,000	144,796,900	98,449,733	87,747,900	88,678,440	76,821,367	131,110,000	249,060,000	218,714,000	186,915,000	388,303,000	273,087,000	92,496,000	51,471,000	84,386,000	51,576,000	28,287,000	72,734,000	70,612,000	19,461,000	-16,992,000	9,493,000	-53,797,000	-165,518,000	49,910,000	90,791,000	131,519,000	171,510,000	125,973,000	72,782,000	67,406,000	66,719,000	129,123,000	87,637,000	54,443,000	42,300,000	-53,000,000	-43,700,000
Pre-Tax Income Margin	5.73%	5.51%	3.76%	2.51%	2.51%	3.16%	2.79%	3.25%	5.84%	5.23%	4.22%	7.72%	7.25%	3.15%	1.72%	2.73%	1.82%	1.05%	2.73%	2.70%	0.85%	-0.82%	0.50%	-3.24%	-11.24%	2.72%	4.94%	6.99%	9.22%	7.34%	5.05%	5.07%	4.30%	7.02%	5.09%	3.39%	2.66%	-3.30%	-3.11%
Income Tax Expense	61,253,000	53,556,600	32,575,800	21,757,800	23,049,050	25,823,120	23,120,833	33,861,000	55,944,000	45,353,000	44,751,000	93,655,000	62,628,000	21,396,000	11,486,000	17,124,000	-8,150,000	9,635,000	27,880,000	24,435,000	3,650,000	-9,260,000	3,160,000	-21,376,000	-37,996,000	20,742,000	33,966,000	51,018,000	66,884,000	50,444,000	27,994,000	27,876,000	25,315,000	52,968,000	36,455,000	23,192,000	20,100,000	-18,800,000	-12,900,000
Income Tax Expense Margin	1.32%	1.27%	0.84%	0.53%	0.73%	1.04%	0.96%	0.84%	1.31%	1.09%	1.01%	1.86%	1.66%	0.73%	0.38%	0.55%	-0.29%	0.36%	1.05%	0.94%	0.16%	-0.45%	0.17%	-1.29%	-2.58%	1.13%	1.85%	2.71%	3.60%	2.94%	1.94%	2.10%	1.63%	2.88%	2.12%	1.44%	1.26%	-1.17%	-0.92%
Net Income	222,534,333	190,444,800	118,270,300	80,724,733	67,884,750	64,684,960	54,739,833	97,249,000	193,716,000	173,961,000	195,433,000	298,209,000	213,521,000	71,100,000	39,985,000	67,262,000	59,726,000	18,652,000	44,854,000	46,177,000	15,811,000	-7,732,000	6,333,000	-32,421,000	-127,889,000	29,168,000	56,825,000	84,094,000	104,626,000	75,529,000	46,110,000	16,820,000	44,815,000	76,155,000	50,396,000	28,675,000	15,400,000	-36,600,000	-32,800,000
Net Income Margin	4.84%	4.52%	3.06%	2.07%	1.86%	2.12%	1.80%	2.41%	4.54%	4.16%	4.41%	5.93%	5.67%	2.42%	1.34%	2.17%	2.11%	0.69%	1.68%	1.77%	0.69%	-0.37%	0.33%	-1.96%	-8.68%	1.59%	3.09%	4.47%	5.62%	4.40%	3.20%	1.27%	2.89%	4.14%	2.93%	1.78%	0.97%	-2.28%	-2.33%
Depreciation and Amortization	144,951,667	135,493,400	119,773,100	107,026,867	98,323,700	89,360,160	83,399,133	155,057,000	147,107,000	149,087,000	145,729,000	140,039,000	124,221,000	118,391,000	112,466,000	108,635,000	103,068,000	103,053,000	93,042,000	86,222,000	88,389,000	87,754,000	73,742,000	71,565,000	76,504,000	77,165,000	77,579,000	67,727,000	62,096,000	55,052,000	52,257,000	49,219,000	54,548,000	56,454,000	49,761,000	47,609,000	53,100,000	64,700,000	52,800,000
Depreciation and Amortization Margin	3.21%	3.39%	3.52%	3.65%	3.77%	3.70%	3.65%	3.84%	3.45%	3.57%	3.29%	2.78%	3.30%	4.03%	3.76%	3.51%	3.65%	3.82%	3.49%	3.30%	3.84%	4.25%	3.87%	4.32%	5.19%	4.21%	4.22%	3.60%	3.34%	3.21%	3.63%	3.70%	3.52%	3.07%	2.89%	2.96%	3.33%	4.03%	3.76%
EBITDA	418,195,667	376,678,600	272,893,800	212,322,533	144,930,650	26,805,760	-187,932,133	297,605,000	405,080,000	376,781,000	341,738,000	536,068,000	406,222,000	222,584,000	175,404,000	202,489,000	160,986,000	136,490,000	170,176,000	160,024,000	112,033,000	76,035,000	87,188,000	20,620,000	-86,625,000	128,256,000	169,559,000	192,406,000	-689,821,000	-664,669,000	138,560,000	392,273,000	-1,378,980,000	-715,653,000	-725,294,000	-1,378,114,000	-1,358,000,000	-1,510,900,000	-1,335,800,000
EBITDA Margin	9.13%	9.15%	7.53%	6.39%	3.96%	-1.93%	-15.02%	7.37%	9.49%	9.02%	7.72%	10.66%	10.79%	7.57%	5.87%	6.55%	5.70%	5.05%	6.38%	6.12%	4.87%	3.68%	4.57%	1.24%	-5.88%	7.00%	9.23%	10.23%	-37.08%	-38.74%	9.62%	29.50%	-88.93%	-38.90%	-42.13%	-85.74%	-85.24%	-94.18%	-95.03%
NOPAT	208,136,150	182,682,127	118,997,075	81,183,526	66,980,357	65,537,547	58,158,381	101,415,331	209,760,295	193,747,646	131,290,734	299,370,071	213,457,663	75,544,519	49,539,419	86,959,326	71,042,164	22,461,922	46,557,285	45,279,121	15,493,334	-6,628,989	6,510,455	-32,871,786	-129,978,169	28,358,005	53,102,844	76,314,329	94,057,255	74,525,328	53,108,444	41,415,425	47,122,579	82,659,755	64,071,382	40,167,721	33,015,546	-14,407,879	-16,534,032
NOPAT Margin	4.52%	4.36%	3.14%	2.12%	1.83%	2.21%	2.05%	2.51%	4.92%	4.64%	2.97%	5.95%	5.67%	2.57%	1.66%	2.81%	2.51%	0.83%	1.75%	1.73%	0.67%	-0.32%	0.34%	-1.98%	-8.82%	1.55%	2.89%	4.06%	5.06%	4.34%	3.69%	3.11%	3.04%	4.49%	3.72%	2.50%	2.07%	-0.90%	-1.18%
Owner's Earnings	154,985,000	171,245,200	120,914,800	96,583,667	73,452,500	64,179,200	48,665,567	97,221,000	65,752,000	83,048,000	109,164,000	272,743,000	259,269,000	132,002,000	50,020,000	121,808,000	87,173,000	42,962,000	50,959,000	88,498,000	70,163,000	35,526,000	21,786,000	23,634,000	-104,605,000	47,311,000	32,874,000	241,000	44,474,000	35,138,000	29,864,000	10,371,000	24,693,000	35,364,000	47,567,000	15,418,000	56,839,000	-129,047,000	-135,290,000
Owner's Earnings Margin	3.29%	4.25%	3.34%	2.94%	2.19%	2.09%	1.40%	2.41%	1.54%	1.99%	2.47%	5.42%	6.88%	4.49%	1.67%	3.94%	3.08%	1.59%	1.91%	3.39%	3.05%	1.72%	1.14%	1.43%	-7.10%	2.58%	1.79%	0.01%	2.39%	2.05%	2.07%	0.78%	1.59%	1.92%	2.76%	0.96%	3.57%	-8.04%	-9.63%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	4,545,156,667	4,068,363,600	3,461,749,700	3,010,747,400	2,702,290,550	2,476,899,480	2,328,485,867	4,179,019,000	4,427,443,000	5,029,008,000	3,766,185,000	2,940,163,000	2,988,310,000	3,093,788,000	2,826,457,000	2,700,219,000	2,666,905,000	2,612,693,000	2,299,549,000	2,065,999,000	1,907,609,000	1,657,864,000	1,472,901,000	1,833,052,000	1,836,878,000	1,881,500,000	1,860,269,000	1,715,763,000	1,441,043,000	1,329,642,000	1,550,661,000	1,839,567,000	1,721,586,000	1,607,403,000	1,593,200,000	1,604,300,000	1,405,600,000
Cash & Cash Equivalents	182,644,667	185,701,600	172,062,800	154,506,600	128,119,600	109,190,480	92,170,800	127,444,000	262,226,000	158,264,000	76,620,000	303,954,000	201,909,000	190,186,000	120,772,000	114,280,000	164,973,000	157,042,000	105,354,000	90,702,000	141,295,000	102,578,000	39,332,000	100,880,000	93,805,000	5,009,000	5,767,000	70,873,000	5,251,000	39,644,000	14,860,000	36,742,000	4,319,000	4,543,000	7,200,000	2,400,000	16,900,000
Cash & Cash Equivalents Margin	4.04%	4.90%	5.21%	5.38%	4.73%	4.20%	3.58%	3.05%	5.92%	3.15%	2.03%	10.34%	6.76%	6.15%	4.27%	4.23%	6.19%	6.01%	4.58%	4.39%	7.41%	6.19%	2.67%	5.50%	5.11%	0.27%	0.31%	4.13%	0.36%	2.98%	0.96%	2.00%	0.25%	0.28%	0.45%	0.15%	1.20%
Short-Term Investments	88,421,000	75,802,000	77,723,100	64,089,867	75,449,650	60,359,720	50,299,767	29,759,000	67,842,000	167,662,000	48,339,000	65,408,000	116,579,000	106,806,000	56,401,000	56,838,000	61,597,000	45,909,000	35,906,000	29,054,000	33,960,000	39,288,000	93,861,000	117,855,000	79,373,000	135,317,000	121,239,000	0	0	0	0	0	0	0	0	0	0
Short-Term Investments Margin	1.86%	1.82%	2.28%	2.11%	3.13%	2.50%	2.09%	0.71%	1.53%	3.33%	1.28%	2.22%	3.90%	3.45%	2.00%	2.10%	2.31%	1.76%	1.56%	1.41%	1.78%	2.37%	6.37%	6.43%	4.32%	7.19%	6.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	271,065,667	261,503,600	249,785,900	218,596,467	203,569,250	169,550,200	142,470,567	157,203,000	330,068,000	325,926,000	124,959,000	369,362,000	318,488,000	296,992,000	177,173,000	171,118,000	226,570,000	202,951,000	141,260,000	119,756,000	175,255,000	141,866,000	133,193,000	218,735,000	173,178,000	140,326,000	127,006,000	70,873,000	5,251,000	39,644,000	14,860,000	36,742,000	4,319,000	4,543,000	7,200,000	2,400,000	16,900,000
Cash & Short-Term Investments Margin	5.90%	6.72%	7.49%	7.49%	7.85%	6.70%	5.66%	3.76%	7.46%	6.48%	3.32%	12.56%	10.66%	9.60%	6.27%	6.34%	8.50%	7.77%	6.14%	5.80%	9.19%	8.56%	9.04%	11.93%	9.43%	7.46%	6.83%	4.13%	0.36%	2.98%	0.96%	2.00%	0.25%	0.28%	0.45%	0.15%	1.20%
Net Receivables	504,616,000	493,110,000	395,866,800	328,376,067	281,703,900	253,515,760	241,731,700	459,534,000	506,565,000	547,749,000	605,092,000	346,610,000	310,792,000	317,923,000	310,861,000	292,593,000	260,949,000	244,558,000	211,873,000	192,851,000	164,108,000	153,583,000	122,208,000	118,063,000	150,528,000	152,128,000	165,510,000	150,812,000	132,320,000	130,769,000	116,430,000	173,485,000	187,837,000	166,520,000	175,700,000	178,800,000	205,200,000
Net Receivables Margin	11.11%	12.24%	11.35%	10.62%	9.96%	9.76%	10.07%	11.00%	11.44%	10.89%	16.07%	11.79%	10.40%	10.28%	11.00%	10.84%	9.78%	9.36%	9.21%	9.33%	8.60%	9.26%	8.30%	6.44%	8.19%	8.09%	8.90%	8.79%	9.18%	9.83%	7.51%	9.43%	10.91%	10.36%	11.03%	11.15%	14.60%
Inventory	0	0	0	0	0	117,120	5,684,267	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,928,000	33,050,000	33,150,000	30,700,000	33,800,000	36,900,000
Inventory Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	1.92%	2.06%	1.93%	2.11%	2.63%
Other Current Assets	32,928,333	21,821,000	18,401,400	34,492,733	39,410,800	37,073,120	34,290,133	11,045,000	11,116,000	76,624,000	5,898,000	4,422,000	4,745,000	9,007,000	12,132,000	5,262,000	43,763,000	46,574,000	46,336,000	56,088,000	94,360,000	90,019,000	94,225,000	43,061,000	43,769,000	43,744,000	46,026,000	36,194,000	30,406,000	30,172,000	28,867,000	12,973,000	10,465,000	9,887,000	8,844,000	23,107,000	49,573,000
Other Current Assets Margin	0.68%	0.47%	0.51%	1.46%	1.89%	1.88%	1.79%	0.26%	0.25%	1.52%	0.16%	0.15%	0.16%	0.29%	0.43%	0.19%	1.64%	1.78%	2.02%	2.71%	4.95%	5.43%	6.40%	2.35%	2.38%	2.32%	2.47%	2.11%	2.11%	2.27%	1.86%	0.71%	0.61%	0.62%	0.56%	1.44%	3.53%
Total Current Assets	850,069,333	816,885,800	696,358,600	608,525,333	550,336,350	482,670,840	444,925,100	675,642,000	884,783,000	989,783,000	776,053,000	758,168,000	664,402,000	649,226,000	522,349,000	491,097,000	552,083,000	514,989,000	418,485,000	386,050,000	445,086,000	399,684,000	384,742,000	408,190,000	382,417,000	350,957,000	352,541,000	273,682,000	176,577,000	208,372,000	166,960,000	234,453,000	243,099,000	226,800,000	236,896,000	251,700,000	322,487,000
Total Current Assets Margin	18.61%	20.45%	20.28%	20.46%	20.68%	19.24%	18.76%	16.17%	19.98%	19.68%	20.61%	25.79%	22.23%	20.98%	18.48%	18.19%	20.70%	19.71%	18.20%	18.69%	23.33%	24.11%	26.12%	22.27%	20.82%	18.65%	18.95%	15.95%	12.25%	15.67%	10.77%	12.75%	14.12%	14.11%	14.87%	15.69%	22.94%
Property, Plant & Equipment	1,103,435,667	981,359,800	789,678,600	664,515,000	608,396,600	556,186,280	520,371,200	1,258,799,000	1,084,823,000	966,685,000	802,607,000	793,885,000	752,062,000	631,188,000	591,164,000	532,526,000	483,047,000	409,850,000	394,397,000	444,028,000	415,418,000	407,246,000	428,852,000	449,575,000	466,138,000	461,883,000	393,759,000	369,998,000	347,128,000	339,403,000	334,177,000	346,019,000	337,094,000	320,102,000	285,400,000	356,600,000	407,283,000
Property, Plant & Equipment Margin	24.62%	24.43%	22.65%	21.81%	22.59%	22.54%	22.40%	30.12%	24.50%	19.22%	21.31%	27.00%	25.17%	20.40%	20.92%	19.72%	18.11%	15.69%	17.15%	21.49%	21.78%	24.56%	29.12%	24.53%	25.38%	24.55%	21.17%	21.56%	24.09%	25.53%	21.55%	18.81%	19.58%	19.91%	17.91%	22.23%	28.98%
Goodwill	304,753,000	260,583,200	181,321,600	136,239,400	115,148,600	108,052,200	102,213,733	304,753,000	304,753,000	304,753,000	300,337,000	88,320,000	88,320,000	108,320,000	108,320,000	108,875,000	96,465,000	77,078,000	76,448,000	73,189,000	3,660,000	0	3,660,000	63,897,000	63,991,000	63,917,000	63,916,000	63,902,000	63,878,000	63,811,000	101,324,000	105,418,000	109,385,000	124,975,000	130,747,000	0	0
Goodwill Margin	6.75%	6.24%	4.92%	3.94%	3.66%	3.94%	4.03%	7.29%	6.88%	6.06%	7.97%	3.00%	2.96%	3.50%	3.83%	4.03%	3.62%	2.95%	3.32%	3.54%	0.19%	0.00%	0.25%	3.49%	3.48%	3.40%	3.44%	3.72%	4.43%	4.80%	6.53%	5.73%	6.35%	7.77%	8.21%	0.00%	0.00%
Intangible Assets	101,166,000	97,011,800	84,360,300	71,612,133	53,709,100	42,967,280	45,662,733	88,615,000	101,150,000	113,733,000	126,580,000	54,981,000	58,832,000	68,949,000	73,469,000	80,507,000	76,787,000	72,809,000	75,387,000	79,561,000	2,822,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	150,200,000	145,500,000
Intangible Assets Margin	2.22%	2.38%	2.46%	2.31%	1.73%	1.38%	1.81%	2.12%	2.28%	2.26%	3.36%	1.87%	1.97%	2.23%	2.60%	2.98%	2.88%	2.79%	3.28%	3.85%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.36%	10.35%
Long-Term Investments	0	0	0	0	0	7,716,480	8,354,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	8,183,000	62,544,000	61,743,000	60,442,000	3,197,000	2,084,000	3,342,000	9,148,000	39,937,000
Long-Term Investments Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.50%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.57%	4.70%	3.98%	3.29%	0.19%	0.13%	0.21%	0.57%	2.84%
Tax Assets	8,006,000	7,129,200	5,978,200	3,985,467	2,989,100	2,391,280	1,992,733	9,536,000	8,140,000	6,342,000	5,470,000	6,158,000	7,725,000	7,468,000	5,965,000	2,978,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	0.18%	0.18%	0.17%	0.11%	0.09%	0.07%	0.06%	0.23%	0.18%	0.13%	0.15%	0.21%	0.26%	0.24%	0.21%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	102,273,667	97,189,200	82,488,800	72,352,133	71,357,900	73,048,640	69,068,033	92,386,000	101,445,000	112,990,000	101,629,000	77,496,000	79,866,000	74,080,000	64,374,000	66,095,000	54,527,000	52,896,000	52,609,000	51,634,000	49,234,000	54,021,000	52,292,000	50,636,000	70,803,000	61,959,000	106,186,000	99,163,000	107,912,000	82,242,000	58,949,000	50,792,000	39,154,000	33,598,000	41,958,000	60,552,000	70,563,000
Other Non-Current Assets Margin	2.25%	2.42%	2.39%	2.44%	2.79%	3.27%	3.25%	2.21%	2.29%	2.25%	2.70%	2.64%	2.67%	2.39%	2.28%	2.45%	2.04%	2.02%	2.29%	2.50%	2.58%	3.26%	3.55%	2.76%	3.85%	3.29%	5.71%	5.78%	7.49%	6.19%	3.80%	2.76%	2.27%	2.09%	2.63%	3.77%	5.02%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	1,619,634,333	1,443,273,200	1,143,827,500	948,704,133	851,601,300	790,362,160	747,653,800	1,754,089,000	1,600,311,000	1,504,503,000	1,336,623,000	1,020,840,000	986,805,000	890,005,000	843,292,000	790,981,000	710,826,000	612,633,000	598,841,000	648,412,000	471,134,000	461,267,000	484,804,000	564,108,000	600,932,000	587,759,000	563,861,000	533,063,000	527,101,000	548,000,000	556,193,000	562,671,000	488,830,000	480,530,000	461,400,000	576,500,000	663,300,000
Total Non-Current Assets Margin	36.01%	35.65%	32.58%	30.61%	30.86%	31.70%	32.10%	41.97%	36.15%	29.92%	35.49%	34.72%	33.02%	28.77%	29.84%	29.29%	26.65%	23.45%	26.04%	31.38%	24.70%	27.82%	32.91%	30.77%	32.71%	31.24%	30.31%	31.07%	36.58%	41.21%	35.87%	30.59%	28.39%	29.89%	28.96%	35.93%	47.19%
Total Assets	2,469,703,667	2,260,159,000	1,840,186,100	1,557,229,467	1,401,937,650	1,273,033,000	1,192,579,467	2,429,731,000	2,485,094,000	2,494,286,000	2,112,676,000	1,779,008,000	1,651,207,000	1,539,231,000	1,365,641,000	1,282,078,000	1,262,909,000	1,127,622,000	1,017,326,000	1,034,462,000	916,220,000	860,951,000	869,546,000	972,298,000	983,349,000	938,716,000	916,402,000	806,745,000	703,678,000	756,372,000	723,153,000	797,124,000	731,929,000	707,330,000	698,300,000	828,200,000	985,800,000
Total Assets Margin	54.62%	56.09%	52.86%	51.07%	51.54%	50.94%	50.85%	58.14%	56.13%	49.60%	56.10%	60.51%	55.26%	49.75%	48.32%	47.48%	47.35%	43.16%	44.24%	50.07%	48.03%	51.93%	59.04%	53.04%	53.53%	49.89%	49.26%	47.02%	48.83%	56.89%	46.64%	43.33%	42.51%	44.00%	43.83%	51.62%	70.13%
Accounts Payable	218,873,667	227,784,000	181,034,800	148,847,133	126,520,700	112,710,760	106,468,300	172,763,000	214,004,000	269,854,000	311,401,000	170,898,000	134,374,000	143,785,000	129,099,000	133,301,000	130,869,000	120,325,000	89,091,000	84,292,000	66,517,000	62,134,000	59,386,000	51,646,000	60,341,000	63,477,000	62,857,000	62,784,000	55,764,000	58,442,000	50,366,000	59,999,000	76,597,000	69,983,000	77,400,000	77,300,000	75,000,000
Accounts Payable Margin	4.78%	5.68%	5.20%	4.78%	4.43%	4.28%	4.36%	4.13%	4.83%	5.37%	8.27%	5.81%	4.50%	4.65%	4.57%	4.94%	4.91%	4.61%	3.87%	4.08%	3.49%	3.75%	4.03%	2.82%	3.28%	3.37%	3.38%	3.66%	3.87%	4.40%	3.25%	3.26%	4.45%	4.35%	4.86%	4.82%	5.34%
Short-Term Debt	65,726,000	62,979,600	59,726,100	53,096,667	41,144,500	34,509,640	32,699,900	63,978,000	66,948,000	66,252,000	50,615,000	67,105,000	57,305,000	54,075,000	61,930,000	64,143,000	44,910,000	25,256,000	45,122,000	56,689,000	45,098,000	27,024,000	25,544,000	159,000	171,000	249,000	317,000	388,000	353,000	328,000	14,834,000	23,948,000	20,452,000	17,504,000	16,500,000	37,200,000	26,600,000
Short-Term Debt Margin	1.45%	1.60%	1.79%	1.84%	1.47%	1.27%	1.31%	1.53%	1.51%	1.32%	1.34%	2.28%	1.92%	1.75%	2.19%	2.38%	1.68%	0.97%	1.96%	2.74%	2.36%	1.63%	1.73%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.96%	1.30%	1.19%	1.09%	1.04%	2.32%	1.89%
Tax Payables	12,321,333	9,873,400	5,976,600	4,166,600	4,236,400	4,002,160	3,927,567	9,924,000	10,410,000	16,630,000	12,087,000	316,000	12,000	1,688,000	324,000	8,284,000	91,000	527,000	1,782,000	59,000	169,000	196,000	826,000	758,000	2,414,000	5,833,000	12,398,000	2,941,000	2,816,000	5,442,000	0	4,127,000	8,434,000	8,117,000	1,222,000	0	0
Tax Payables Margin	0.27%	0.23%	0.15%	0.11%	0.14%	0.15%	0.16%	0.24%	0.24%	0.33%	0.32%	0.01%	0.00%	0.05%	0.01%	0.31%	0.00%	0.02%	0.08%	0.00%	0.01%	0.01%	0.06%	0.04%	0.13%	0.31%	0.67%	0.17%	0.20%	0.41%	0.00%	0.22%	0.49%	0.50%	0.08%	0.00%	0.00%
Deferred Revenue	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	291,827,667	254,872,200	200,979,100	163,736,267	122,802,200	98,884,200	83,322,133	293,061,000	277,799,000	304,623,000	227,290,000	171,588,000	159,869,000	183,121,000	136,440,000	132,317,000	123,683,000	131,488,000	114,900,000	102,810,000	97,055,000	0	0	0	0	0	0	0	1,738,000	7,808,000	6,515,000	0	0	0	16,178,000	-1,611,000	12,992,000
Other Current Liabilities Margin	6.45%	6.24%	5.68%	5.13%	3.85%	3.12%	2.66%	7.01%	6.27%	6.06%	6.04%	5.84%	5.35%	5.92%	4.83%	4.90%	4.64%	5.03%	5.00%	4.98%	5.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%	0.59%	0.42%	0.00%	0.00%	0.00%	1.02%	-0.10%	0.92%
Total Current Liabilities	712,006,000	669,051,800	540,421,600	456,792,733	403,566,450	366,587,800	352,455,400	665,985,000	701,563,000	768,470,000	702,694,000	506,547,000	444,277,000	451,318,000	402,590,000	396,175,000	364,597,000	340,782,000	309,617,000	299,708,000	263,671,000	233,897,000	236,555,000	215,292,000	244,805,000	258,414,000	264,372,000	230,606,000	192,942,000	195,314,000	193,138,000	281,366,000	282,139,000	260,928,000	267,700,000	294,900,000	303,300,000
Total Current Liabilities Margin	15.69%	16.59%	15.50%	14.93%	14.65%	14.49%	15.06%	15.94%	15.85%	15.28%	18.66%	17.23%	14.87%	14.59%	14.24%	14.67%	13.67%	13.04%	13.46%	14.51%	13.82%	14.11%	16.06%	11.75%	13.33%	13.73%	14.21%	13.44%	13.39%	14.69%	12.46%	15.30%	16.39%	16.23%	16.80%	18.38%	21.58%
Long-Term Debt	161,839,000	175,510,600	193,548,500	154,775,933	117,024,300	108,955,720	133,775,800	125,156,000	161,990,000	198,371,000	174,917,000	217,119,000	266,214,000	237,600,000	206,989,000	179,530,000	167,599,000	102,474,000	81,332,000	112,941,000	46,750,000	42,657,000	13,373,000	1,457,000	1,400,000	1,184,000	1,433,000	1,430,000	1,826,000	112,151,000	115,003,000	152,997,000	173,702,000	196,079,000	202,600,000	317,900,000	399,100,000
Long-Term Debt Margin	3.53%	4.53%	5.95%	5.16%	3.93%	4.12%	6.21%	2.99%	3.66%	3.94%	4.64%	7.38%	8.91%	7.68%	7.32%	6.65%	6.28%	3.92%	3.54%	5.47%	2.45%	2.57%	0.91%	0.08%	0.08%	0.06%	0.08%	0.08%	0.13%	8.43%	7.42%	8.32%	10.09%	12.20%	12.72%	19.82%	28.39%
Capital Lease Obligations	202,396,000	167,616,800	91,065,200	60,710,133	45,532,600	36,426,080	30,355,067	224,342,000	208,793,000	174,053,000	111,575,000	119,321,000	72,542,000	26,000	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	4.52%	4.11%	2.30%	1.53%	1.15%	0.92%	0.77%	5.37%	4.72%	3.46%	2.96%	4.06%	2.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	64,976,000	66,445,600	63,677,100	56,651,067	49,615,750	46,168,080	43,240,400	78,649,000	55,785,000	60,494,000	64,893,000	72,407,000	66,210,000	56,441,000	49,157,000	54,680,000	78,055,000	64,398,000	64,028,000	45,309,000	19,855,000	19,405,000	31,023,000	24,017,000	30,806,000	19,452,000	37,251,000	37,870,000	29,106,000	23,656,000	31,736,000	39,519,000	25,191,000	22,319,000	24,400,000	22,500,000	48,600,000
Deferred Tax Liabilities Margin	1.45%	1.71%	1.93%	1.93%	1.85%	1.89%	1.88%	1.88%	1.26%	1.20%	1.72%	2.46%	2.22%	1.82%	1.74%	2.03%	2.93%	2.46%	2.78%	2.19%	1.04%	1.17%	2.11%	1.31%	1.68%	1.03%	2.00%	2.21%	2.02%	1.78%	2.05%	2.15%	1.46%	1.39%	1.53%	1.40%	3.46%
Other Non-Current Liabilities	123,365,000	115,773,600	88,625,500	87,354,000	85,914,150	80,484,680	70,817,967	55,601,000	146,772,000	167,722,000	152,270,000	56,503,000	59,186,000	76,190,000	55,443,000	52,638,000	63,930,000	59,085,000	41,888,000	117,505,000	120,329,000	85,248,000	87,699,000	106,786,000	73,952,000	80,271,000	59,265,000	68,444,000	79,067,000	69,791,000	45,480,000	31,052,000	29,845,000	20,577,000	21,900,000	21,500,000	18,600,000
Other Non-Current Liabilities Margin	2.66%	2.79%	2.47%	3.06%	3.46%	3.54%	3.19%	1.33%	3.32%	3.34%	4.04%	1.92%	1.98%	2.46%	1.96%	1.95%	2.40%	2.26%	1.82%	5.69%	6.31%	5.14%	5.95%	5.83%	4.03%	4.27%	3.19%	3.99%	5.49%	5.25%	2.93%	1.69%	1.73%	1.28%	1.37%	1.34%	1.32%
Total Non-Current Liabilities	521,655,667	497,950,000	421,188,900	349,006,200	290,223,100	265,743,600	272,946,767	449,384,000	541,168,000	574,415,000	480,915,000	443,868,000	443,887,000	370,231,000	311,589,000	286,848,000	309,584,000	225,957,000	187,248,000	275,755,000	186,934,000	147,310,000	132,095,000	132,260,000	106,158,000	100,907,000	97,949,000	107,744,000	109,999,000	205,598,000	192,219,000	223,568,000	228,738,000	238,975,000	248,900,000	361,900,000	466,300,000
Total Non-Current Liabilities Margin	11.47%	12.45%	12.23%	11.41%	10.19%	10.31%	11.91%	10.75%	12.22%	11.42%	12.77%	15.10%	14.85%	11.97%	11.02%	10.62%	11.61%	8.65%	8.14%	13.35%	9.80%	8.89%	8.97%	7.22%	5.78%	5.36%	5.27%	6.28%	7.63%	15.46%	12.40%	12.15%	13.29%	14.87%	15.62%	22.56%	33.17%
Total Liabilities	1,233,661,667	1,167,001,800	961,610,500	805,798,933	693,789,550	632,331,400	625,402,167	1,115,369,000	1,242,731,000	1,342,885,000	1,183,609,000	950,415,000	888,164,000	821,549,000	714,179,000	683,023,000	674,181,000	566,739,000	496,865,000	575,463,000	450,605,000	381,207,000	368,650,000	347,552,000	350,963,000	359,321,000	362,321,000	338,350,000	302,941,000	400,912,000	385,357,000	504,934,000	510,877,000	499,903,000	516,600,000	656,800,000	769,600,000
Total Liabilities Margin	27.15%	29.04%	27.73%	26.34%	24.84%	24.80%	26.96%	26.69%	28.07%	26.70%	31.43%	32.33%	29.72%	26.55%	25.27%	25.30%	25.28%	21.69%	21.61%	27.85%	23.62%	22.99%	25.03%	18.96%	19.11%	19.10%	19.48%	19.72%	21.02%	30.15%	24.85%	27.45%	29.67%	31.10%	32.43%	40.94%	54.75%
Preferred Stock	0	0	0	0	0	560	2,967	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	14,000	15,000	15,000	15,000	15,000	15,000
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	300,667	297,200	290,700	284,800	279,900	272,240	259,967	304,000	300,000	298,000	294,000	290,000	288,000	287,000	285,000	282,000	279,000	277,000	275,000	273,000	271,000	269,000	267,000	267,000	265,000	264,000	263,000	258,000	253,000	250,000	245,000	202,000	197,000	196,000	200,000	200,000	200,000
Common Stock Margin	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Retained Earnings	1,265,509,000	1,038,754,600	743,047,200	595,827,400	547,859,100	471,869,160	389,666,700	1,435,250,000	1,272,584,000	1,088,693,000	801,314,000	595,932,000	533,187,000	501,389,000	438,379,000	386,917,000	376,827,000	338,810,000	296,735,000	284,157,000	295,108,000	292,129,000	327,948,000	471,360,000	457,536,000	415,876,000	347,051,000	256,129,000	192,610,000	154,455,000	137,635,000	98,718,000	26,685,000	-19,413,000	-44,100,000	-55,100,000	-14,800,000
Retained Earnings Margin	28.25%	25.26%	20.43%	18.47%	19.53%	17.79%	14.60%	34.34%	28.74%	21.65%	21.28%	20.27%	17.84%	16.21%	15.51%	14.33%	14.13%	12.97%	12.90%	13.75%	15.47%	17.62%	22.27%	25.71%	24.91%	22.10%	18.66%	14.93%	13.37%	11.62%	8.88%	5.37%	1.55%	-1.21%	-2.77%	-3.43%	-1.05%
Accumulated OCI	3,899,667	3,317,600	-6,893,400	-17,276,800	-21,345,550	-17,951,160	-14,959,300	272,000	4,324,000	7,103,000	3,699,000	1,190,000	203,000	-14,238,000	-20,574,000	-23,417,000	-27,496,000	-23,479,000	-14,912,000	-57,372,000	-58,402,000	-36,053,000	-44,212,000	-57,507,000	-26,523,000	-34,389,000	-5,128,000	-4,319,000	-4,100,000	-9,857,000	-3,592,000	0	0	0	0	0	0
Accumulated OCI Margin	0.08%	0.08%	-0.27%	-0.82%	-1.10%	-0.94%	-0.78%	0.01%	0.10%	0.14%	0.10%	0.04%	0.01%	-0.46%	-0.73%	-0.87%	-1.03%	-0.90%	-0.65%	-2.78%	-3.06%	-2.17%	-3.00%	-3.14%	-1.44%	-1.83%	-0.28%	-0.25%	-0.28%	-0.74%	-0.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	0	0	0	0	0	0	4,613,733	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	33,512,000	32,600,000	34,000,000	38,300,000
Minority Interest Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.08%	2.05%	2.12%	2.72%
Total Shareholders’ Equity	1,236,042,000	1,093,157,200	878,575,600	751,430,533	708,148,100	640,701,600	562,563,567	1,314,362,000	1,242,363,000	1,151,401,000	929,067,000	828,593,000	763,043,000	717,682,000	651,462,000	599,055,000	588,728,000	560,883,000	520,461,000	458,999,000	465,615,000	479,744,000	500,896,000	624,746,000	632,386,000	579,395,000	554,081,000	468,395,000	400,737,000	355,460,000	337,796,000	292,190,000	221,052,000	173,915,000	149,100,000	137,400,000	177,900,000
Total Shareholders’ Equity Margin	27.47%	27.05%	25.13%	24.73%	26.70%	26.14%	23.59%	31.45%	28.06%	22.90%	24.67%	28.18%	25.53%	23.20%	23.05%	22.19%	22.08%	21.47%	22.63%	22.22%	24.41%	28.94%	34.01%	34.08%	34.43%	30.79%	29.78%	27.30%	27.81%	26.73%	21.78%	15.88%	12.84%	10.82%	9.36%	8.56%	12.66%
Total Equity	1,236,042,000	1,093,157,200	878,575,600	751,430,533	708,148,100	640,701,600	567,177,300	1,314,362,000	1,242,363,000	1,151,401,000	929,067,000	828,593,000	763,043,000	717,682,000	651,462,000	599,055,000	588,728,000	560,883,000	520,461,000	458,999,000	465,615,000	479,744,000	500,896,000	624,746,000	632,386,000	579,395,000	554,081,000	468,395,000	400,737,000	355,460,000	337,796,000	292,190,000	221,052,000	207,427,000	181,700,000	171,400,000	216,200,000
Total Equity Margin	27.47%	27.05%	25.13%	24.73%	26.70%	26.14%	23.89%	31.45%	28.06%	22.90%	24.67%	28.18%	25.53%	23.20%	23.05%	22.19%	22.08%	21.47%	22.63%	22.22%	24.41%	28.94%	34.01%	34.08%	34.43%	30.79%	29.78%	27.30%	27.81%	26.73%	21.78%	15.88%	12.84%	12.90%	11.40%	10.68%	15.38%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities & Equity Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	88,421,000	75,802,000	77,723,100	64,089,867	75,449,650	68,076,200	58,653,767	29,759,000	67,842,000	167,662,000	48,339,000	65,408,000	116,579,000	106,806,000	56,401,000	56,838,000	61,597,000	45,909,000	35,906,000	29,054,000	33,960,000	39,288,000	93,861,000	117,855,000	79,373,000	135,317,000	121,239,000	0	8,183,000	62,544,000	61,743,000	60,442,000	3,197,000	2,084,000	3,342,000	9,148,000	39,937,000
Total Investments Margin	1.86%	1.82%	2.28%	2.11%	3.13%	3.00%	2.63%	0.71%	1.53%	3.33%	1.28%	2.22%	3.90%	3.45%	2.00%	2.10%	2.31%	1.76%	1.56%	1.41%	1.78%	2.37%	6.37%	6.43%	4.32%	7.19%	6.52%	0.00%	0.57%	4.70%	3.98%	3.29%	0.19%	0.13%	0.21%	0.57%	2.84%
Net Debt	247,316,333	220,405,400	172,274,400	114,074,400	75,580,500	70,699,920	104,659,100	286,032,000	175,505,000	280,412,000	260,487,000	99,591,000	194,152,000	101,489,000	148,147,000	129,393,000	47,536,000	-29,312,000	21,100,000	78,928,000	-49,447,000	-32,897,000	-415,000	-99,264,000	-92,234,000	-3,576,000	-4,017,000	-69,055,000	-3,072,000	72,835,000	114,977,000	140,203,000	189,835,000	209,040,000	211,900,000	352,700,000	408,800,000
Net Debt Margin	5.46%	5.34%	4.83%	3.15%	1.82%	2.11%	4.70%	6.84%	3.96%	5.58%	6.92%	3.39%	6.50%	3.28%	5.24%	4.79%	1.78%	-1.12%	0.92%	3.82%	-2.59%	-1.98%	-0.03%	-5.42%	-5.02%	-0.19%	-0.22%	-4.02%	-0.21%	5.48%	7.41%	7.62%	11.03%	13.00%	13.30%	21.98%	29.08%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	4,545,156,667	4,068,363,600	3,461,749,700	3,010,747,400	2,702,290,550	2,476,899,480	2,328,485,867	4,179,019,000	4,427,443,000	5,029,008,000	3,766,185,000	2,940,163,000	2,988,310,000	3,093,788,000	2,826,457,000	2,700,219,000	2,666,905,000	2,612,693,000	2,299,549,000	2,065,999,000	1,907,609,000	1,657,864,000	1,472,901,000	1,833,052,000	1,836,878,000	1,881,500,000	1,860,269,000	1,715,763,000	1,441,043,000	1,329,642,000	1,550,661,000	1,839,567,000	1,721,586,000	1,607,403,000	1,593,200,000	1,604,300,000	1,405,600,000
Working Capital	138,063,333	147,834,000	155,937,000	151,732,600	146,769,900	116,083,040	92,469,700	9,657,000	183,220,000	221,313,000	73,359,000	251,621,000	220,125,000	197,908,000	119,759,000	94,922,000	187,486,000	174,207,000	108,868,000	86,342,000	181,415,000	165,787,000	148,187,000	192,898,000	137,612,000	92,543,000	88,169,000	43,076,000	-16,365,000	13,058,000	-26,178,000	-46,913,000	-39,040,000	-34,128,000	-30,804,000	-43,200,000	19,187,000
Working Capital Margin	2.92%	3.86%	4.78%	5.53%	6.03%	4.75%	3.70%	0.23%	4.14%	4.40%	1.95%	8.56%	7.37%	6.40%	4.24%	3.52%	7.03%	6.67%	4.73%	4.18%	9.51%	10.00%	10.06%	10.52%	7.49%	4.92%	4.74%	2.51%	-1.14%	0.98%	-1.69%	-2.55%	-2.27%	-2.12%	-1.93%	-2.69%	1.37%
Total Capital	1,666,003,000	1,499,264,200	1,222,912,800	1,020,011,533	911,848,200	820,592,000	759,393,467	1,727,838,000	1,680,094,000	1,590,077,000	1,266,174,000	1,232,138,000	1,159,104,000	1,009,357,000	920,381,000	842,728,000	801,237,000	688,613,000	646,915,000	628,629,000	557,463,000	549,425,000	539,813,000	626,362,000	633,957,000	580,828,000	555,831,000	470,213,000	402,916,000	467,939,000	467,633,000	469,135,000	415,206,000	387,498,000	368,200,000	492,500,000	603,600,000
Total Capital Margin	36.97%	37.29%	35.17%	33.26%	33.25%	32.45%	31.87%	41.35%	37.95%	31.62%	33.62%	41.91%	38.79%	32.63%	32.56%	31.21%	30.04%	26.36%	28.13%	30.43%	29.22%	33.14%	36.65%	34.17%	34.51%	30.87%	29.88%	27.41%	27.96%	35.19%	30.16%	25.50%	24.12%	24.11%	23.11%	30.70%	42.94%
Capital Employed	1,757,697,667	1,591,107,200	1,299,764,500	1,100,436,733	998,371,200	906,445,200	840,124,067	1,763,746,000	1,783,531,000	1,725,816,000	1,409,982,000	1,272,461,000	1,206,930,000	1,087,913,000	963,051,000	885,903,000	898,312,000	786,840,000	707,709,000	734,754,000	652,549,000	627,054,000	632,991,000	757,006,000	738,544,000	680,302,000	652,030,000	576,139,000	510,736,000	561,058,000	530,015,000	515,758,000	449,790,000	446,402,000	430,600,000	533,300,000	682,500,000
Capital Employed Margin	38.94%	39.50%	37.36%	36.14%	36.89%	36.45%	35.80%	42.20%	40.28%	34.32%	37.44%	43.28%	40.39%	35.16%	34.07%	32.81%	33.68%	30.12%	30.78%	35.56%	34.21%	37.82%	42.98%	41.30%	40.21%	36.16%	35.05%	33.58%	35.44%	42.20%	34.18%	28.04%	26.13%	27.77%	27.03%	33.24%	48.56%
Invested Capital	1,483,358,333	1,313,562,600	1,050,850,000	865,504,933	783,728,600	711,401,520	667,222,667	1,600,394,000	1,417,868,000	1,431,813,000	1,189,554,000	928,184,000	957,195,000	819,171,000	799,609,000	728,448,000	636,264,000	531,571,000	541,561,000	537,927,000	416,168,000	446,847,000	500,481,000	525,482,000	540,152,000	575,819,000	550,064,000	399,340,000	397,665,000	428,295,000	452,773,000	432,393,000	410,887,000	382,955,000	361,000,000	490,100,000	586,700,000
Invested Capital Margin	32.93%	32.39%	29.96%	27.89%	28.53%	28.25%	28.30%	38.30%	32.02%	28.47%	31.59%	31.57%	32.03%	26.48%	28.29%	26.98%	23.86%	20.35%	23.55%	26.04%	21.82%	26.95%	33.98%	28.67%	29.41%	30.60%	29.57%	23.27%	27.60%	32.21%	29.20%	23.51%	23.87%	23.82%	22.66%	30.55%	41.74%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	4,545,156,667	4,068,363,600	3,461,749,700	3,010,747,400	2,702,290,550	2,476,899,480	2,328,485,867	4,179,019,000	4,427,443,000	5,029,008,000	3,766,185,000	2,940,163,000	2,988,310,000	3,093,788,000	2,826,457,000	2,700,219,000	2,666,905,000	2,612,693,000	2,299,549,000	2,065,999,000	1,907,609,000	1,657,864,000	1,472,901,000	1,833,052,000	1,836,878,000	1,881,500,000	1,860,269,000	1,715,763,000	1,441,043,000	1,329,642,000	1,550,661,000	1,839,567,000	1,721,586,000	1,607,403,000	1,593,200,000	1,604,300,000	1,405,600,000
Net Income	222,334,333	190,324,800	118,210,300	80,684,733	67,873,100	64,539,200	54,619,333	173,361,000	195,433,000	298,209,000	213,521,000	71,100,000	39,985,000	67,262,000	59,726,000	18,652,000	44,854,000	46,177,000	15,811,000	-7,732,000	6,333,000	-32,421,000	-127,522,000	29,168,000	56,825,000	84,094,000	104,626,000	75,529,000	46,110,000	16,820,000	41,404,000	76,155,000	50,400,000	28,700,000	15,400,000	-36,600,000	-32,800,000
Net Income Margin	4.83%	4.52%	3.06%	2.07%	1.86%	2.11%	1.80%	4.15%	4.41%	5.93%	5.67%	2.42%	1.34%	2.17%	2.11%	0.69%	1.68%	1.77%	0.69%	-0.37%	0.33%	-1.96%	-8.66%	1.59%	3.09%	4.47%	5.62%	4.40%	3.20%	1.27%	2.67%	4.14%	2.93%	1.79%	0.97%	-2.28%	-2.33%
Depreciation & Amortization	144,951,667	135,493,400	119,773,100	107,060,200	98,321,000	89,344,720	75,552,400	149,087,000	145,729,000	140,039,000	124,221,000	118,391,000	112,466,000	108,635,000	103,068,000	103,053,000	93,042,000	86,222,000	88,389,000	87,754,000	73,975,000	71,832,000	76,504,000	76,872,000	77,318,000	67,727,000	62,096,000	55,052,000	51,925,000	49,219,000	54,548,000	56,454,000	49,761,000	47,609,000	53,084,000	-64,700,000	-52,800,000
Depreciation & Amortization Margin	3.21%	3.39%	3.52%	3.65%	3.77%	3.70%	3.13%	3.57%	3.29%	2.78%	3.30%	4.03%	3.76%	3.51%	3.65%	3.82%	3.49%	3.30%	3.84%	4.25%	3.88%	4.33%	5.19%	4.19%	4.21%	3.60%	3.34%	3.21%	3.60%	3.70%	3.52%	3.07%	2.89%	2.96%	3.33%	-4.03%	-3.76%
Deferred Income Tax	3,540,333	2,149,400	3,377,400	622,600	905,450	1,858,720	1,838,933	22,437,000	-5,566,000	-6,250,000	-7,589,000	7,715,000	5,411,000	1,872,000	-10,213,000	9,522,000	16,435,000	4,692,000	-10,367,000	-10,359,000	3,056,000	-11,457,000	-4,942,000	12,571,000	6,160,000	351,000	-5,370,000	7,313,000	2,569,000	8,412,000	-52,000	10,117,000	3,128,000	1,962,000	16,310,000	-3,700,000	-9,000,000
Deferred Income Tax Margin	0.10%	0.07%	0.12%	-0.01%	0.02%	0.08%	0.08%	0.54%	-0.13%	-0.12%	-0.20%	0.26%	0.18%	0.06%	-0.36%	0.35%	0.62%	0.18%	-0.45%	-0.50%	0.16%	-0.69%	-0.34%	0.69%	0.34%	0.02%	-0.29%	0.43%	0.18%	0.63%	0.00%	0.55%	0.18%	0.12%	1.02%	-0.23%	-0.64%
Stock-Based Compensation	11,856,000	11,494,400	9,798,300	8,578,867	7,292,850	5,834,280	4,861,900	11,355,000	11,438,000	12,775,000	11,426,000	10,478,000	9,523,000	8,413,000	6,958,000	7,588,000	8,029,000	6,998,000	5,494,000	6,068,000	6,450,000	5,690,000	6,157,000	6,106,000	4,911,000	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.26%	0.29%	0.29%	0.29%	0.27%	0.21%	0.18%	0.27%	0.26%	0.25%	0.30%	0.36%	0.32%	0.27%	0.25%	0.28%	0.30%	0.27%	0.24%	0.29%	0.34%	0.34%	0.42%	0.33%	0.27%	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	15,897,333	8,427,800	-25,700	-468,733	-1,188,100	-3,329,560	-5,603,300	-13,035,000	29,584,000	31,143,000	-4,087,000	-1,466,000	-28,016,000	55,908,000	-15,634,000	-36,338,000	-18,316,000	-7,399,000	-9,846,000	8,014,000	9,879,000	-7,422,000	-8,131,000	-18,424,000	-29,000	8,470,000	1,383,000	5,734,000	-19,476,000	-8,156,000	-27,055,000	-10,524,000	10,179,000	-9,260,000	-5,579,000	1,400,000	-81,600,000
Change in Working Capital Margin	0.33%	0.16%	-0.09%	-0.08%	-0.11%	-0.25%	-0.41%	-0.31%	0.67%	0.62%	-0.11%	-0.05%	-0.94%	1.81%	-0.55%	-1.35%	-0.69%	-0.28%	-0.43%	0.39%	0.52%	-0.45%	-0.55%	-1.01%	0.00%	0.45%	0.07%	0.33%	-1.35%	-0.61%	-1.74%	-0.57%	0.59%	-0.58%	-0.35%	0.09%	-5.81%
Accounts Receivable	31,214,333	-4,962,400	-1,453,100	-2,655,533	-1,159,850	-1,580,560	-2,820,467	45,499,000	41,189,000	6,955,000	-122,782,000	4,327,000	1,223,000	2,336,000	4,081,000	1,643,000	998,000	1,942,000	2,065,000	508,000	2,394,000	-32,211,000	-3,735,000	30,568,000	533,000	6,108,000	-16,838,000	-19,946,000	-3,125,000	-15,914,000	35,236,000	-12,568,000	-24,300,000	-2,900,000	-7,600,000	13,500,000	-23,800,000
Accounts Receivable Margin	0.72%	-0.19%	-0.06%	-0.15%	-0.07%	-0.09%	-0.18%	1.09%	0.93%	0.14%	-3.26%	0.15%	0.04%	0.08%	0.14%	0.06%	0.04%	0.07%	0.09%	0.02%	0.13%	-1.94%	-0.25%	1.67%	0.03%	0.32%	-0.91%	-1.16%	-0.22%	-1.20%	2.27%	-0.68%	-1.41%	-0.18%	-0.48%	0.84%	-1.69%
Inventory	0	-865,400	-9,499,800	-10,924,867	-7,758,450	-8,720,920	-7,215,633	0	0	0	0	-4,327,000	-1,223,000	-33,219,000	-27,964,000	-32,961,000	4,696,000	-29,833,000	-28,950,000	250,000	-10,342,000	0	0	0	982,000	4,116,000	3,606,000	-14,094,000	-21,899,000	-14,595,000	-11,164,000	-1,102,000	5,500,000	-1,800,000	-8,846,000	3,200,000	3,500,000
Inventory Margin	0.00%	-0.03%	-0.33%	-0.42%	-0.29%	-0.40%	-0.33%	0.00%	0.00%	0.00%	0.00%	-0.15%	-0.04%	-1.07%	-0.99%	-1.22%	0.18%	-1.14%	-1.26%	0.01%	-0.54%	0.00%	0.00%	0.00%	0.05%	0.22%	0.19%	-0.82%	-1.52%	-1.10%	-0.72%	-0.06%	0.32%	-0.11%	-0.56%	0.20%	0.25%
Accounts Payable	5,210,667	32,473,200	17,139,200	15,979,733	9,085,150	8,004,480	5,350,400	-21,039,000	-10,261,000	46,932,000	106,064,000	40,670,000	-27,039,000	52,020,000	10,393,000	-11,256,000	-15,092,000	32,464,000	8,571,000	3,610,000	18,462,000	5,197,000	-5,615,000	-60,652,000	-377,000	-18,327,000	26,978,000	32,570,000	4,735,000	21,371,000	-51,263,000	10,996,000	32,000,000	-10,500,000	10,900,000	-24,500,000	-47,500,000
Accounts Payable Margin	0.07%	0.88%	0.46%	0.51%	0.22%	0.22%	0.08%	-0.50%	-0.23%	0.93%	2.82%	1.38%	-0.90%	1.68%	0.37%	-0.42%	-0.57%	1.24%	0.37%	0.17%	0.97%	0.31%	-0.38%	-3.31%	-0.02%	-0.97%	1.45%	1.90%	0.33%	1.61%	-3.31%	0.60%	1.86%	-0.65%	0.68%	-1.53%	-3.38%
Other Working Capital	-20,527,667	-18,217,600	-6,212,000	-2,851,400	-1,136,650	-857,920	-772,067	-37,495,000	-1,344,000	-22,744,000	12,631,000	-42,136,000	-977,000	34,771,000	-2,144,000	6,236,000	-8,918,000	-11,972,000	8,468,000	3,896,000	-635,000	19,592,000	1,219,000	11,660,000	-1,167,000	20,689,000	-12,363,000	7,204,000	813,000	982,000	136,000	-7,850,000	-3,021,000	5,940,000	-33,000	9,200,000	-13,800,000
Other Working Capital Margin	-0.46%	-0.50%	-0.16%	-0.02%	0.04%	0.04%	0.02%	-0.90%	-0.03%	-0.45%	0.34%	-1.43%	-0.03%	1.12%	-0.08%	0.23%	-0.33%	-0.46%	0.37%	0.19%	-0.03%	1.18%	0.08%	0.64%	-0.06%	1.10%	-0.66%	0.42%	0.06%	0.07%	0.01%	-0.43%	-0.18%	0.37%	0.00%	0.57%	-0.98%
Other Non-Cash Items	-38,969,000	-26,222,600	-6,909,500	-3,732,200	167,950	152,720	8,293,167	-57,359,000	-54,451,000	-5,097,000	-13,977,000	-229,000	30,995,000	13,257,000	8,010,000	7,781,000	1,975,000	7,076,000	4,023,000	789,000	1,159,000	65,000	69,724,000	-956,000	-2,052,000	7,814,000	-15,188,000	-6,656,000	-6,796,000	22,373,000	-3,998,000	-4,464,000	932,000	3,261,000	-3,016,000	133,800,000	110,000,000
Other Non-Cash Items Margin	-0.90%	-0.62%	-0.10%	-0.03%	0.19%	0.16%	0.68%	-1.37%	-1.23%	-0.10%	-0.37%	-0.01%	1.04%	0.43%	0.28%	0.29%	0.07%	0.27%	0.17%	0.04%	0.06%	0.00%	4.73%	-0.05%	-0.11%	0.42%	-0.82%	-0.39%	-0.47%	1.68%	-0.26%	-0.24%	0.05%	0.20%	-0.19%	8.34%	7.83%
Net Cash from Operating Activities	359,610,667	321,667,200	244,223,900	192,745,467	173,372,250	158,400,080	139,562,300	285,846,000	322,167,000	470,819,000	323,515,000	205,989,000	170,364,000	255,347,000	151,915,000	110,258,000	146,019,000	143,766,000	93,504,000	84,534,000	100,852,000	26,287,000	11,790,000	105,337,000	143,133,000	168,456,000	147,547,000	136,972,000	74,332,000	88,668,000	64,847,000	127,738,000	114,400,000	72,272,000	76,199,000	30,196,000	-66,200,000
Net Cash from Operating Activities Margin	7.83%	7.81%	6.80%	5.90%	5.99%	6.03%	5.46%	6.84%	7.28%	9.36%	8.59%	7.01%	5.70%	8.25%	5.37%	4.08%	5.48%	5.50%	4.07%	4.09%	5.29%	1.59%	0.80%	5.75%	7.79%	8.95%	7.93%	7.98%	5.16%	6.67%	4.18%	6.94%	6.65%	4.50%	4.78%	1.88%	-4.71%
Capital Expenditures (PPE)	-202,543,000	-148,718,200	-114,141,200	-89,209,667	-91,259,550	-88,655,520	-80,630,867	-223,103,000	-219,021,000	-165,505,000	-78,473,000	-57,489,000	-102,431,000	-54,089,000	-75,621,000	-78,743,000	-86,937,000	-43,901,000	-34,037,000	-44,496,000	-58,522,000	-15,777,000	-53,220,000	-58,729,000	-101,269,000	-151,580,000	-122,248,000	-95,443,000	-68,171,000	-55,668,000	-74,670,000	-97,245,000	-52,590,000	-60,866,000	-11,645,000	-27,747,000	-49,690,000
Capital Expenditures (PPE) Margin	-4.53%	-3.52%	-3.16%	-2.73%	-3.40%	-3.70%	-3.51%	-5.34%	-4.95%	-3.29%	-2.08%	-1.96%	-3.43%	-1.75%	-2.68%	-2.92%	-3.26%	-1.68%	-1.48%	-2.15%	-3.07%	-0.95%	-3.61%	-3.20%	-5.51%	-8.06%	-6.57%	-5.56%	-4.73%	-4.19%	-4.82%	-5.29%	-3.05%	-3.79%	-0.73%	-1.73%	-3.54%
Acquisitions (Net)	918,000	-42,674,400	-24,653,900	-28,828,733	-19,772,050	-14,199,440	-10,531,833	0	0	2,754,000	-230,367,000	14,241,000	11,476,000	4,680,000	2,490,000	-22,000,000	-29,813,000	-2,647,000	-4,146,000	-180,039,000	5,295,000	-4,355,000	-4,873,000	0	-4,599,000	17,333,000	29,129,000	0	0	0	40,455,000	0	0	0	39,031,000	0	0
Acquisitions (Net) Margin	0.02%	-1.12%	-0.69%	-1.06%	-0.70%	-0.45%	-0.30%	0.00%	0.00%	0.05%	-6.12%	0.48%	0.38%	0.15%	0.09%	-0.81%	-1.12%	-0.10%	-0.18%	-8.71%	0.28%	-0.26%	-0.33%	0.00%	-0.25%	0.92%	1.57%	0.00%	0.00%	0.00%	2.61%	0.00%	0.00%	0.00%	2.45%	0.00%	0.00%
Purchases of Investments	-102,708,333	-110,923,800	-99,704,500	-84,215,200	-128,827,800	-103,062,240	-85,885,200	-29,236,000	-96,537,000	-182,352,000	-81,361,000	-165,133,000	-129,709,000	-108,495,000	-73,459,000	-69,400,000	-61,363,000	-45,831,000	-39,605,000	-55,858,000	-59,718,000	-65,171,000	-109,806,000	-146,655,000	-292,064,000	-386,358,000	-378,445,000	0	0	0	0	0	0	0	0	0	0
Purchases of Investments Margin	-2.17%	-2.86%	-2.96%	-2.86%	-5.75%	-4.60%	-3.84%	-0.70%	-2.18%	-3.63%	-2.16%	-5.62%	-4.34%	-3.51%	-2.60%	-2.57%	-2.30%	-1.75%	-1.72%	-2.70%	-3.13%	-3.93%	-7.46%	-8.00%	-15.90%	-20.53%	-20.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	109,677,667	123,790,000	99,189,700	87,062,467	128,155,450	102,524,360	85,436,967	66,584,000	198,120,000	64,329,000	73,182,000	216,735,000	120,409,000	58,698,000	73,842,000	74,167,000	45,831,000	35,853,000	32,718,000	60,730,000	64,995,000	119,744,000	133,800,000	107,404,000	348,008,000	372,280,000	295,680,000	0	0	0	0	0	0	0	0	0	0
Sales / Maturities of Investments Margin	2.45%	3.33%	2.97%	3.07%	5.78%	4.62%	3.85%	1.59%	4.47%	1.28%	1.94%	7.37%	4.03%	1.90%	2.61%	2.75%	1.72%	1.37%	1.42%	2.94%	3.41%	7.22%	9.08%	5.86%	18.95%	19.79%	15.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	37,967,333	25,364,800	15,281,600	11,889,067	12,639,800	15,331,720	14,206,933	-1,524,000	95,735,000	19,691,000	13,815,000	-893,000	2,014,000	4,256,000	4,279,000	8,804,000	6,639,000	4,928,000	2,194,000	6,397,000	1,767,000	10,234,000	4,913,000	11,748,000	16,666,000	16,030,000	25,103,000	27,847,000	77,897,000	7,493,000	7,315,000	9,945,000	-9,203,000	15,283,000	37,340,000	65,313,000	-65,818,000
Other Investing Activities Margin	0.84%	0.57%	0.38%	0.34%	0.46%	0.71%	0.66%	-0.04%	2.16%	0.39%	0.37%	-0.03%	0.07%	0.14%	0.15%	0.33%	0.25%	0.19%	0.10%	0.31%	0.09%	0.62%	0.33%	0.64%	0.91%	0.85%	1.35%	1.62%	5.41%	0.56%	0.47%	0.54%	-0.53%	0.95%	2.34%	4.07%	-4.68%
Net Cash from Investing Activities	-156,688,333	-153,161,600	-124,028,300	-103,302,067	-99,064,150	-88,061,120	-77,404,000	-187,279,000	-21,703,000	-261,083,000	-303,204,000	7,461,000	-98,241,000	-94,950,000	-68,469,000	-87,172,000	-125,643,000	-51,598,000	-42,876,000	-213,266,000	-46,183,000	44,675,000	-29,186,000	-86,232,000	-33,258,000	-132,295,000	-150,781,000	-67,596,000	9,726,000	-48,175,000	-26,900,000	-87,300,000	-61,793,000	-45,583,000	64,726,000	37,566,000	-115,508,000
Net Cash from Investing Activities Margin	-3.39%	-3.59%	-3.47%	-3.24%	-3.61%	-3.42%	-3.13%	-4.48%	-0.49%	-5.19%	-8.05%	0.25%	-3.29%	-3.07%	-2.42%	-3.23%	-4.71%	-1.97%	-1.86%	-10.32%	-2.42%	2.69%	-1.98%	-4.70%	-1.81%	-7.03%	-8.11%	-3.94%	0.67%	-3.62%	-1.73%	-4.75%	-3.59%	-2.84%	4.06%	2.34%	-8.22%
Net Debt Issuance	-82,377,667	-93,387,400	-68,510,100	-49,515,400	-36,533,200	-37,262,840	-33,566,467	-120,518,000	-83,281,000	-43,334,000	-118,706,000	-101,098,000	-39,090,000	-71,260,000	-58,924,000	-52,202,000	3,312,000	-40,440,000	-43,176,000	39,810,000	-8,245,000	-5,579,000	20,277,000	-354,000	-3,535,000	-2,367,000	-1,954,000	-362,000	-109,518,000	-18,795,000	-64,573,000	-7,659,000	-40,898,000	-29,125,000	-142,100,000	-74,500,000	211,200,000
Net Debt Issuance Margin	-1.88%	-2.44%	-1.97%	-1.47%	-1.05%	-1.39%	-1.25%	-2.88%	-1.88%	-0.86%	-3.15%	-3.44%	-1.31%	-2.30%	-2.08%	-1.93%	0.12%	-1.55%	-1.88%	1.93%	-0.43%	-0.34%	1.38%	-0.02%	-0.19%	-0.13%	-0.11%	-0.02%	-7.60%	-1.41%	-4.16%	-0.42%	-2.38%	-1.81%	-8.92%	-4.64%	15.03%
Long-Term Debt Issuance	-77,677,333	-90,567,200	-66,572,000	-47,670,200	-35,272,700	-32,202,440	3,991,367	-120,518,000	-69,180,000	-43,334,000	-118,706,000	-101,098,000	-38,528,000	-71,260,000	-58,924,000	-52,202,000	8,030,000	-40,440,000	-43,176,000	47,000,000	-16,056,000	3,339,000	13,525,000	-295,000	-1,360,000	-317,000	-1,954,000	-362,000	-109,518,000	-18,795,000	-64,573,000	93,641,000	407,402,000	522,800,000	-142,100,000	-74,500,000	211,200,000
Long-Term Debt Issuance Margin	-1.77%	-2.38%	-1.92%	-1.40%	-1.01%	-1.14%	0.98%	-2.88%	-1.56%	-0.86%	-3.15%	-3.44%	-1.29%	-2.30%	-2.08%	-1.93%	0.30%	-1.55%	-1.88%	2.27%	-0.84%	0.20%	0.92%	-0.02%	-0.07%	-0.02%	-0.11%	-0.02%	-7.60%	-1.41%	-4.16%	5.09%	23.66%	32.52%	-8.92%	-4.64%	15.03%
Short-Term Debt Issuance	-4,700,333	-2,820,200	-1,938,100	-1,847,667	-1,262,350	-5,061,880	-37,559,067	0	-14,101,000	0	0	0	-562,000	0	0	0	-4,718,000	0	-37,000	-7,190,000	7,811,000	-8,918,000	6,752,000	-59,000	-2,175,000	-2,050,000	0	0	0	0	0	-101,300,000	-448,300,000	-551,925,000	0	0	0
Short-Term Debt Issuance Margin	-0.11%	-0.06%	-0.05%	-0.07%	-0.04%	-0.25%	-2.22%	0.00%	-0.32%	0.00%	0.00%	0.00%	-0.02%	0.00%	0.00%	0.00%	-0.18%	0.00%	0.00%	-0.35%	0.41%	-0.54%	0.46%	0.00%	-0.12%	-0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	-5.51%	-26.04%	-34.34%	0.00%	0.00%	0.00%
Net Stock Issuance	-77,255,333	-64,292,200	-36,826,900	-24,117,133	-19,439,700	-15,890,920	-13,235,767	-75,233,000	-91,531,000	-65,002,000	-83,100,000	-6,595,000	-9,110,000	-9,404,000	-6,019,000	-9,510,000	-12,765,000	1,136,000	2,785,000	0	763,000	1,828,000	469,000	2,976,000	-2,262,000	-20,993,000	-7,227,000	1,125,000	-4,852,000	0	-828,000	-3,924,000	0	0	0	0	200,000
Net Stock Issuance Margin	-1.72%	-1.52%	-0.92%	-0.60%	-0.52%	-0.44%	-0.36%	-1.80%	-2.07%	-1.29%	-2.21%	-0.22%	-0.30%	-0.30%	-0.21%	-0.35%	-0.48%	0.04%	0.12%	0.00%	0.04%	0.11%	0.03%	0.16%	-0.12%	-1.12%	-0.39%	0.07%	-0.34%	0.00%	-0.05%	-0.21%	0.00%	0.00%	0.00%	0.00%	0.01%
Common Stock Issuance	0	0	0	434,133	1,195,550	5,702,520	4,758,767	0	0	0	0	0	0	0	0	0	0	1,136,000	2,785,000	0	763,000	1,828,000	469,000	2,976,000	2,683,000	5,877,000	5,394,000	8,652,000	0	0	0	110,000,000	0	0	0	0	200,000
Common Stock Issuance Margin	0.00%	0.00%	0.00%	0.02%	0.06%	0.31%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.12%	0.00%	0.04%	0.11%	0.03%	0.16%	0.15%	0.31%	0.29%	0.50%	0.00%	0.00%	0.00%	5.98%	0.00%	0.00%	0.00%	0.00%	0.01%
Common Stock Repurchased	-77,255,333	-64,292,200	-36,826,900	-24,551,267	-20,635,250	-17,193,440	-14,327,867	-75,233,000	-91,531,000	-65,002,000	-83,100,000	-6,595,000	-9,110,000	-9,404,000	-6,019,000	-9,510,000	-12,765,000	0	0	0	0	0	0	0	-4,945,000	-26,870,000	-12,621,000	-7,527,000	-4,852,000	0	-828,000	-3,924,000	0	0	0	0	0
Common Stock Repurchased Margin	-1.72%	-1.52%	-0.92%	-0.62%	-0.58%	-0.51%	-0.42%	-1.80%	-2.07%	-1.29%	-2.21%	-0.22%	-0.30%	-0.30%	-0.21%	-0.35%	-0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.27%	-1.43%	-0.68%	-0.44%	-0.34%	0.00%	-0.05%	-0.21%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0	0	0	0	0	-173,520	-144,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-414,000	-3,924,000	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.03%	-0.21%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-11,222,333	-9,992,600	-8,981,300	-7,111,533	-9,083,900	-8,330,080	-7,690,600	-11,295,000	-11,542,000	-10,830,000	-8,139,000	-8,157,000	-8,187,000	-8,244,000	-8,264,000	-8,318,000	-6,837,000	-4,102,000	-3,233,000	-3,219,000	-3,180,000	-3,126,000	-15,523,000	-15,344,000	-15,165,000	-15,269,000	-13,704,000	-12,010,000	-7,955,000	0	-2,487,000	-4,122,000	-4,298,000	-4,298,000	-4,298,000	-4,493,000	-5,079,000
Net Dividends Paid Margin	-0.25%	-0.25%	-0.26%	-0.23%	-0.39%	-0.37%	-0.36%	-0.27%	-0.26%	-0.22%	-0.22%	-0.28%	-0.27%	-0.27%	-0.29%	-0.31%	-0.26%	-0.16%	-0.14%	-0.16%	-0.17%	-0.19%	-1.05%	-0.84%	-0.83%	-0.81%	-0.74%	-0.70%	-0.55%	0.00%	-0.16%	-0.22%	-0.25%	-0.27%	-0.27%	-0.28%	-0.36%
Common Dividends Paid	-11,222,333	-9,992,600	-8,981,300	-7,111,533	-9,083,900	-8,065,720	-7,337,100	-11,295,000	-11,542,000	-10,830,000	-8,139,000	-8,157,000	-8,187,000	-8,244,000	-8,264,000	-8,318,000	-6,837,000	-4,102,000	-3,233,000	-3,219,000	-3,180,000	-3,126,000	-15,523,000	-15,344,000	-15,165,000	-15,269,000	-13,704,000	-12,010,000	-7,955,000	0	0	0	0	-4,298,000	-4,600,000	-4,493,000	-5,079,000
Common Dividends Paid Margin	-0.25%	-0.25%	-0.26%	-0.23%	-0.39%	-0.36%	-0.34%	-0.27%	-0.26%	-0.22%	-0.22%	-0.28%	-0.27%	-0.27%	-0.29%	-0.31%	-0.26%	-0.16%	-0.14%	-0.16%	-0.17%	-0.19%	-1.05%	-0.84%	-0.83%	-0.81%	-0.74%	-0.70%	-0.55%	0.00%	0.00%	0.00%	0.00%	-0.27%	-0.29%	-0.28%	-0.36%
Preferred Dividends Paid	0	0	0	0	0	-264,360	-363,567	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,487,000	-4,122,000	-4,298,000	0	0	0	0
Preferred Dividends Paid Margin	0.00%	0.00%	0.00%	0.00%	0.00%	-0.02%	-0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.16%	-0.22%	-0.25%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	-15,125,667	-15,726,400	-8,933,300	-2,889,333	-4,545,150	-2,428,040	-2,290,700	-26,303,000	-10,256,000	-8,818,000	-37,700,000	4,445,000	-4,013,000	-2,075,000	-4,709,000	-3,749,000	3,845,000	2,926,000	7,648,000	41,548,000	-5,290,000	-839,000	-49,375,000	692,000	-117,000	1,710,000	-473,000	7,493,000	3,874,000	3,086,000	8,059,000	7,690,000	-7,635,000	4,074,000	10,551,000	-3,908,000	-11,102,000
Other Financing Activities Margin	-0.35%	-0.38%	-0.22%	-0.01%	-0.17%	-0.06%	-0.07%	-0.63%	-0.23%	-0.18%	-1.00%	0.15%	-0.13%	-0.07%	-0.17%	-0.14%	0.14%	0.11%	0.33%	2.01%	-0.28%	-0.05%	-3.35%	0.04%	-0.01%	0.09%	-0.03%	0.44%	0.27%	0.23%	0.52%	0.42%	-0.44%	0.25%	0.66%	-0.24%	-0.79%
Net Cash from Financing Activities	-185,981,000	-183,398,600	-123,251,600	-83,633,400	-69,601,950	-63,911,880	-56,793,600	-233,349,000	-196,610,000	-127,984,000	-247,645,000	-111,405,000	-60,400,000	-90,983,000	-77,916,000	-73,779,000	-12,445,000	-40,480,000	-35,976,000	78,139,000	-15,952,000	-7,716,000	-44,152,000	-12,030,000	-21,079,000	-36,919,000	-23,358,000	-3,754,000	-118,451,000	-15,709,000	-59,829,000	-8,015,000	-52,831,000	-29,349,000	-136,149,000	-82,901,000	195,219,000
Net Cash from Financing Activities Margin	-4.19%	-4.59%	-3.39%	-2.30%	-2.13%	-2.26%	-2.04%	-5.58%	-4.44%	-2.54%	-6.58%	-3.79%	-2.02%	-2.94%	-2.76%	-2.73%	-0.47%	-1.55%	-1.56%	3.78%	-0.84%	-0.47%	-3.00%	-0.66%	-1.15%	-1.96%	-1.26%	-0.22%	-8.22%	-1.18%	-3.86%	-0.44%	-3.07%	-1.83%	-8.55%	-5.17%	13.89%
Effect of FX on Cash	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Effect of FX on Cash 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%
Net Change in Cash	16,941,333	-14,893,000	-3,056,000	5,810,000	4,706,150	6,427,080	5,363,900	-134,782,000	103,854,000	81,752,000	-227,334,000	102,045,000	11,723,000	69,414,000	5,530,000	-50,693,000	7,931,000	51,688,000	14,652,000	-50,593,000	38,717,000	63,246,000	-61,548,000	7,075,000	88,796,000	-758,000	-26,592,000	65,622,000	-34,393,000	24,784,000	-21,882,000	32,423,000	-224,000	-2,660,000	4,776,000	-15,139,000	13,487,000
Net Change in Cash Margin	0.25%	-0.36%	-0.06%	0.36%	0.25%	0.35%	0.29%	-3.23%	2.35%	1.63%	-6.04%	3.47%	0.39%	2.24%	0.20%	-1.88%	0.30%	1.98%	0.64%	-2.45%	2.03%	3.81%	-4.18%	0.39%	4.83%	-0.04%	-1.43%	3.82%	-2.39%	1.86%	-1.41%	1.76%	-0.01%	-0.17%	0.30%	-0.94%	0.96%
Cash at Beginning of Period	165,739,333	200,616,200	175,129,600	148,703,800	123,418,850	102,767,720	86,792,300	262,226,000	158,372,000	76,620,000	303,954,000	201,909,000	190,186,000	120,772,000	115,242,000	164,973,000	157,042,000	105,354,000	90,702,000	141,295,000	102,578,000	39,332,000	100,880,000	93,805,000	5,009,000	5,767,000	32,359,000	5,251,000	39,644,000	14,860,000	36,742,000	4,319,000	4,543,000	7,203,000	2,427,000	16,945,000	3,458,000
Cash at Beginning of Period Margin	3.79%	5.26%	5.27%	5.01%	4.48%	3.85%	3.28%	6.27%	3.58%	1.52%	8.07%	6.87%	6.36%	3.90%	4.08%	6.11%	5.89%	4.03%	3.94%	6.84%	5.38%	2.37%	6.85%	5.12%	0.27%	0.31%	1.74%	0.31%	2.75%	1.12%	2.37%	0.23%	0.26%	0.45%	0.15%	1.06%	0.25%
Cash at End of Period	182,680,667	185,723,200	172,073,600	154,513,800	128,125,000	109,194,800	92,156,200	127,444,000	262,226,000	158,372,000	76,620,000	303,954,000	201,909,000	190,186,000	120,772,000	114,280,000	164,973,000	157,042,000	105,354,000	90,702,000	141,295,000	102,578,000	39,332,000	100,880,000	93,805,000	5,009,000	5,767,000	70,873,000	5,251,000	39,644,000	14,860,000	36,742,000	4,319,000	4,543,000	7,203,000	1,806,000	16,945,000
Cash at End of Period Margin	4.04%	4.90%	5.21%	5.38%	4.73%	4.20%	3.58%	3.05%	5.92%	3.15%	2.03%	10.34%	6.76%	6.15%	4.27%	4.23%	6.19%	6.01%	4.58%	4.39%	7.41%	6.19%	2.67%	5.50%	5.11%	0.27%	0.31%	4.13%	0.36%	2.98%	0.96%	2.00%	0.25%	0.28%	0.45%	0.11%	1.21%
Operating Cash Flow	359,610,667	321,667,200	244,223,900	192,745,467	173,372,250	158,400,080	139,561,500	285,846,000	322,167,000	470,819,000	323,515,000	205,989,000	170,364,000	255,347,000	151,915,000	110,258,000	146,019,000	143,766,000	93,504,000	84,534,000	100,852,000	26,287,000	11,790,000	105,337,000	143,133,000	168,456,000	147,547,000	136,972,000	74,332,000	88,668,000	64,847,000	127,738,000	114,400,000	72,272,000	76,199,000	30,196,000	-66,224,000
Operating Cash Flow Margin	7.83%	7.81%	6.80%	5.90%	5.99%	6.03%	5.46%	6.84%	7.28%	9.36%	8.59%	7.01%	5.70%	8.25%	5.37%	4.08%	5.48%	5.50%	4.07%	4.09%	5.29%	1.59%	0.80%	5.75%	7.79%	8.95%	7.93%	7.98%	5.16%	6.67%	4.18%	6.94%	6.65%	4.50%	4.78%	1.88%	-4.71%
Capital Expenditure	-212,501,000	-154,693,000	-117,128,600	-91,201,267	-92,753,250	-89,850,480	-81,626,667	-240,000,000	-231,998,000	-165,505,000	-78,473,000	-57,489,000	-102,431,000	-54,089,000	-75,621,000	-78,743,000	-86,937,000	-43,901,000	-34,037,000	-44,496,000	-58,522,000	-15,777,000	-53,220,000	-58,729,000	-101,269,000	-151,580,000	-122,248,000	-95,443,000	-68,171,000	-55,668,000	-74,670,000	-97,245,000	-52,590,000	-60,866,000	-11,645,000	-27,747,000	-49,690,000
Capital Expenditure Margin	-4.76%	-3.66%	-3.23%	-2.78%	-3.43%	-3.73%	-3.54%	-5.74%	-5.24%	-3.29%	-2.08%	-1.96%	-3.43%	-1.75%	-2.68%	-2.92%	-3.26%	-1.68%	-1.48%	-2.15%	-3.07%	-0.95%	-3.61%	-3.20%	-5.51%	-8.06%	-6.57%	-5.56%	-4.73%	-4.19%	-4.82%	-5.29%	-3.05%	-3.79%	-0.73%	-1.73%	-3.54%
Free Cash Flow	147,109,667	166,974,200	127,095,300	101,544,200	80,619,000	68,549,600	57,934,833	45,846,000	90,169,000	305,314,000	245,042,000	148,500,000	67,933,000	201,258,000	76,294,000	31,515,000	59,082,000	99,865,000	59,467,000	40,038,000	42,330,000	10,510,000	-41,430,000	46,608,000	41,864,000	16,876,000	25,299,000	41,529,000	6,161,000	33,000,000	-9,823,000	30,493,000	61,810,000	11,406,000	64,554,000	2,449,000	-115,914,000
Free Cash Flow Margin	3.07%	4.15%	3.56%	3.12%	2.55%	2.30%	1.92%	1.10%	2.04%	6.07%	6.51%	5.05%	2.27%	6.51%	2.70%	1.17%	2.22%	3.82%	2.59%	1.94%	2.22%	0.63%	-2.81%	2.54%	2.28%	0.90%	1.36%	2.42%	0.43%	2.48%	-0.63%	1.66%	3.59%	0.71%	4.05%	0.15%	-8.25%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	4,545,156,667	4,068,363,600	3,461,749,700	3,010,747,400	2,702,290,550	2,476,899,480	2,328,485,867	4,179,019,000	4,427,443,000	5,029,008,000	3,766,185,000	2,940,163,000	2,988,310,000	3,093,788,000	2,826,457,000	2,700,219,000	2,666,905,000	2,612,693,000	2,299,549,000	2,065,999,000	1,907,609,000	1,657,864,000	1,472,901,000	1,833,052,000	1,836,878,000	1,881,500,000	1,860,269,000	1,715,763,000	1,441,043,000	1,329,642,000	1,550,661,000	1,839,567,000	1,721,586,000	1,607,403,000	1,593,200,000	1,604,300,000	1,405,600,000
EBITDA	418,195,667	376,678,600	272,893,800	212,322,533	144,930,650	26,805,760	-187,932,133	376,781,000	341,738,000	536,068,000	406,222,000	222,584,000	175,404,000	202,489,000	160,986,000	136,490,000	170,176,000	160,024,000	112,033,000	76,035,000	87,188,000	20,620,000	-86,625,000	128,256,000	169,559,000	192,406,000	-689,821,000	-664,669,000	138,560,000	392,273,000	-1,378,980,000	-715,653,000	-725,294,000	-1,378,114,000	-1,358,000,000	-1,510,900,000	-1,335,800,000
EBITDA Margin	9.13%	9.15%	7.53%	6.39%	3.96%	-1.93%	-15.02%	9.02%	7.72%	10.66%	10.79%	7.57%	5.87%	6.55%	5.70%	5.05%	6.38%	6.12%	4.87%	3.68%	4.57%	1.24%	-5.88%	7.00%	9.23%	10.23%	-37.08%	-38.74%	9.62%	29.50%	-88.93%	-38.90%	-42.13%	-85.74%	-85.24%	-94.18%	-95.03%
(-) Tax Adjustment	96,414,397	86,778,244	60,040,618	43,745,836	29,921,757	-10,759,783	-29,092,895	78,130,109	81,818,566	129,294,516	93,160,317	51,487,710	39,142,242	41,090,011	-25,438,884	46,490,655	65,230,936	55,375,665	21,012,304	-41,436,211	29,022,867	-8,193,266	19,885,472	53,301,662	63,434,052	74,636,891	-269,010,482	-266,156,740	53,294,065	162,225,946	-523,222,451	-293,570,534	-301,705,818	-587,058,389	-645,290,780	535,941,887	394,320,824
(-) Tax Adjustment Margin	2.10%	2.10%	1.64%	1.23%	0.78%	-1.34%	-2.22%	1.87%	1.85%	2.57%	2.47%	1.75%	1.31%	1.33%	-0.90%	1.72%	2.45%	2.12%	0.91%	-2.01%	1.52%	-0.49%	1.35%	2.91%	3.45%	3.97%	-14.46%	-15.51%	3.70%	12.20%	-33.74%	-15.96%	-17.52%	-36.52%	-40.50%	33.41%	28.05%
(-) Change In Working Capital	15,897,333	8,427,800	-25,700	-468,733	-1,188,100	-3,329,560	-5,603,300	-13,035,000	29,584,000	31,143,000	-4,087,000	-1,466,000	-28,016,000	55,908,000	-15,634,000	-36,338,000	-18,316,000	-7,399,000	-9,846,000	8,014,000	9,879,000	-7,422,000	-8,131,000	-18,424,000	-29,000	8,470,000	1,383,000	5,734,000	-19,476,000	-8,156,000	-27,055,000	-10,524,000	10,179,000	-9,260,000	-5,579,000	1,400,000	-81,600,000
(-) Change In Working Capital Margin	0.33%	0.16%	-0.09%	-0.08%	-0.11%	-0.25%	-0.41%	-0.31%	0.67%	0.62%	-0.11%	-0.05%	-0.94%	1.81%	-0.55%	-1.35%	-0.69%	-0.28%	-0.43%	0.39%	0.52%	-0.45%	-0.55%	-1.01%	0.00%	0.45%	0.07%	0.33%	-1.35%	-0.61%	-1.74%	-0.57%	0.59%	-0.58%	-0.35%	0.09%	-5.81%
(-) Capital Expenditure	-212,501,000	-154,693,000	-117,128,600	-91,201,267	-92,753,250	-89,850,480	-81,626,667	-240,000,000	-231,998,000	-165,505,000	-78,473,000	-57,489,000	-102,431,000	-54,089,000	-75,621,000	-78,743,000	-86,937,000	-43,901,000	-34,037,000	-44,496,000	-58,522,000	-15,777,000	-53,220,000	-58,729,000	-101,269,000	-151,580,000	-122,248,000	-95,443,000	-68,171,000	-55,668,000	-74,670,000	-97,245,000	-52,590,000	-60,866,000	-11,645,000	-27,747,000	-49,690,000
(-) Capital Expenditure Margin	-4.76%	-3.66%	-3.23%	-2.78%	-3.43%	-3.73%	-3.54%	-5.74%	-5.24%	-3.29%	-2.08%	-1.96%	-3.43%	-1.75%	-2.68%	-2.92%	-3.26%	-1.68%	-1.48%	-2.15%	-3.07%	-0.95%	-3.61%	-3.20%	-5.51%	-8.06%	-6.57%	-5.56%	-4.73%	-4.19%	-4.82%	-5.29%	-3.05%	-3.79%	-0.73%	-1.73%	-3.54%
Unlevered Free Cash Flow	93,382,936	126,779,556	95,750,282	77,844,164	23,443,743	-48,955,377	-234,862,605	71,685,891	-1,662,566	210,125,484	238,675,683	115,073,290	61,846,758	51,401,989	126,437,884	47,594,345	36,324,064	68,146,335	66,829,696	64,961,211	-10,235,867	20,458,266	-151,599,472	34,649,338	4,884,948	-42,280,891	-544,441,518	-499,689,260	36,570,935	182,535,054	-903,372,549	-508,803,466	-486,357,182	-842,661,611	-718,775,220	-2,075,988,887	-1,698,210,824
Unlevered Free Cash Flow Margin	1.95%	3.22%	2.74%	2.45%	-0.14%	-4.07%	-15.92%	1.72%	-0.04%	4.18%	6.34%	3.91%	2.07%	1.66%	4.47%	1.76%	1.36%	2.61%	2.91%	3.14%	-0.54%	1.23%	-10.29%	1.89%	0.27%	-2.25%	-29.27%	-29.12%	2.54%	13.73%	-58.26%	-27.66%	-28.25%	-52.42%	-45.12%	-129.40%	-120.82%
(-) Net Interest Income After Taxes	1,150,800	-1,736,841	-2,716,628	-2,845,340	-1,826,245	-1,460,996	-1,217,496	2,090,979	4,285,113	-2,923,693	-5,924,884	-6,211,718	-3,895,102	-4,426,956	-5,846,839	-2,391,586	-1,921,592	-1,529,598	-2,845,184	-6,898,257	-1,923,983	-2,316,799	570,515	2,779,463	2,805,230	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	0.03%	-0.06%	-0.09%	-0.11%	-0.07%	-0.05%	-0.04%	0.05%	0.10%	-0.06%	-0.16%	-0.21%	-0.13%	-0.14%	-0.21%	-0.09%	-0.07%	-0.06%	-0.12%	-0.33%	-0.10%	-0.14%	0.04%	0.15%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt Issuance	-82,377,667	-93,387,400	-68,510,100	-49,515,400	-36,533,200	-37,262,840	-33,566,467	-120,518,000	-83,281,000	-43,334,000	-118,706,000	-101,098,000	-39,090,000	-71,260,000	-58,924,000	-52,202,000	3,312,000	-40,440,000	-43,176,000	39,810,000	-8,245,000	-5,579,000	20,277,000	-354,000	-3,535,000	-2,367,000	-1,954,000	-362,000	-109,518,000	-18,795,000	-64,573,000	-7,659,000	-40,898,000	-29,125,000	-142,100,000	-74,500,000	211,200,000
Net Debt Issuance Margin	-1.88%	-2.44%	-1.97%	-1.47%	-1.05%	-1.39%	-1.25%	-2.88%	-1.88%	-0.86%	-3.15%	-3.44%	-1.31%	-2.30%	-2.08%	-1.93%	0.12%	-1.55%	-1.88%	1.93%	-0.43%	-0.34%	1.38%	-0.02%	-0.19%	-0.13%	-0.11%	-0.02%	-7.60%	-1.41%	-4.16%	-0.42%	-2.38%	-1.81%	-8.92%	-4.64%	15.03%
Levered Free Cash Flow	9,854,470	35,128,997	29,956,810	31,174,104	-11,263,212	-84,757,221	-267,211,575	-50,923,088	-89,228,679	169,715,177	125,894,567	20,187,008	26,651,860	-15,431,054	73,360,723	-2,216,068	41,557,656	29,235,934	26,498,880	111,669,468	-16,556,884	17,196,065	-131,892,987	31,515,875	-1,455,282	-44,647,891	-546,395,518	-500,051,260	-72,947,065	163,740,054	-967,945,549	-516,462,466	-527,255,182	-871,786,611	-860,875,220	-2,150,488,887	-1,487,010,824
Levered Free Cash Flow Margin	0.05%	0.83%	0.86%	1.10%	-1.13%	-5.40%	-17.12%	-1.22%	-2.02%	3.37%	3.34%	0.69%	0.89%	-0.50%	2.60%	-0.08%	1.56%	1.12%	1.15%	5.41%	-0.87%	1.04%	-8.95%	1.72%	-0.08%	-2.37%	-29.37%	-29.14%	-5.06%	12.31%	-62.42%	-28.08%	-30.63%	-54.24%	-54.03%	-134.05%	-105.79%