Crown Holdings, Inc. (0I4X.L)

Analysis: Margins & Ratios Industry: Packaging & Containers Sector: Consumer Cyclical Live Price: $105.14

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,251,333,333	11,508,000,000	10,399,400,000	9,786,800,000	9,233,100,000	8,790,360,000	8,589,043,333	12,141,000,000	11,756,000,000	11,801,000,000	12,010,000,000	12,943,000,000	11,394,000,000	9,392,000,000	9,559,000,000	11,151,000,000	8,698,000,000	8,284,000,000	8,762,000,000	9,097,000,000	8,656,000,000	8,470,000,000	8,644,000,000	7,941,000,000	7,938,000,000	8,305,000,000	7,727,000,000	6,982,000,000	6,908,000,000	7,199,000,000	6,630,000,000	6,792,000,000	7,187,000,000	7,289,000,000	7,732,000,000	8,300,000,000	8,494,600,000	8,331,900,000	5,053,800,000	4,452,200,000	4,162,600,000	3,780,700,000	3,807,400,000	3,072,100,000	1,909,800,000
Cost of Revenue	9,817,000,000	9,167,800,000	8,318,700,000	7,926,133,333	7,542,950,000	7,201,840,000	7,012,806,667	9,545,000,000	9,254,000,000	9,262,000,000	9,546,000,000	10,643,000,000	9,029,000,000	7,359,000,000	7,575,000,000	9,028,000,000	7,006,000,000	6,623,000,000	7,116,000,000	7,525,000,000	7,180,000,000	7,013,000,000	7,296,000,000	6,691,000,000	6,551,000,000	6,867,000,000	6,700,000,000	6,090,000,000	5,759,000,000	5,984,000,000	5,539,000,000	5,619,000,000	6,063,000,000	5,982,000,000	6,060,000,000	6,527,000,000	6,707,700,000	6,732,500,000	4,311,000,000	3,814,100,000	3,474,000,000	3,197,400,000	3,298,200,000	2,653,900,000	1,651,100,000
Cost of Revenue Margin	80.07%	79.56%	79.97%	81.12%	81.97%	82.21%	81.91%	78.62%	78.72%	78.48%	79.48%	82.23%	79.24%	78.35%	79.24%	80.96%	80.55%	79.95%	81.21%	82.72%	82.95%	82.80%	84.41%	84.26%	82.53%	82.69%	86.71%	87.22%	83.37%	83.12%	83.54%	82.73%	84.36%	82.07%	78.38%	78.64%	78.96%	80.80%	85.30%	85.67%	83.46%	84.57%	86.63%	86.39%	86.45%
Gross Profit	2,434,333,333	2,340,200,000	2,080,700,000	1,860,666,667	1,690,150,000	1,588,520,000	1,576,236,667	2,596,000,000	2,502,000,000	2,539,000,000	2,464,000,000	2,300,000,000	2,365,000,000	2,033,000,000	1,984,000,000	2,123,000,000	1,692,000,000	1,661,000,000	1,646,000,000	1,572,000,000	1,476,000,000	1,457,000,000	1,348,000,000	1,250,000,000	1,387,000,000	1,438,000,000	1,027,000,000	892,000,000	1,149,000,000	1,215,000,000	1,091,000,000	1,173,000,000	1,124,000,000	1,307,000,000	1,672,000,000	1,773,000,000	1,786,900,000	1,599,400,000	742,800,000	638,100,000	688,600,000	583,300,000	509,200,000	418,200,000	258,700,000
Gross Profit Margin	19.93%	20.44%	20.03%	18.88%	18.03%	17.79%	18.09%	21.38%	21.28%	21.52%	20.52%	17.77%	20.76%	21.65%	20.76%	19.04%	19.45%	20.05%	18.79%	17.28%	17.05%	17.20%	15.59%	15.74%	17.47%	17.31%	13.29%	12.78%	16.63%	16.88%	16.46%	17.27%	15.64%	17.93%	21.62%	21.36%	21.04%	19.20%	14.70%	14.33%	16.54%	15.43%	13.37%	13.61%	13.55%
R&D Expenses	33,000,000	38,800,000	41,400,000	35,466,667	26,600,000	21,280,000	17,733,333	32,000,000	33,000,000	32,000,000	33,000,000	34,000,000	47,000,000	48,000,000	50,000,000	51,000,000	39,000,000	41,000,000	39,000,000	39,000,000	36,000,000	43,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.27%	0.35%	0.41%	0.36%	0.27%	0.22%	0.18%	0.26%	0.28%	0.27%	0.27%	0.26%	0.41%	0.51%	0.52%	0.46%	0.45%	0.49%	0.45%	0.43%	0.42%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	598,333,333	893,800,000	661,400,000	570,600,000	521,250,000	482,640,000	475,340,000	622,000,000	632,000,000	630,000,000	625,000,000	540,000,000	2,098,000,000	576,000,000	566,000,000	533,000,000	314,000,000	342,000,000	390,000,000	398,000,000	425,000,000	339,000,000	423,000,000	360,000,000	381,000,000	396,000,000	414,000,000	326,000,000	349,000,000	363,000,000	337,000,000	317,000,000	310,000,000	314,000,000	348,000,000	697,000,000	480,200,000	427,000,000	242,000,000	135,400,000	126,600,000	112,100,000	105,400,000	86,200,000	53,200,000
SG&A Expenses Margin	4.90%	7.85%	6.22%	5.66%	5.48%	5.32%	5.38%	5.12%	5.38%	5.34%	5.20%	4.17%	18.41%	6.13%	5.92%	4.78%	3.61%	4.13%	4.45%	4.38%	4.91%	4.00%	4.89%	4.53%	4.80%	4.77%	5.36%	4.67%	5.05%	5.04%	5.08%	4.67%	4.31%	4.31%	4.50%	8.40%	5.65%	5.12%	4.79%	3.04%	3.04%	2.97%	2.77%	2.81%	2.79%
Operating Expenses	1,093,000,000	1,053,200,000	930,100,000	804,600,000	725,250,000	725,960,000	756,346,667	1,036,000,000	1,175,000,000	1,120,000,000	1,195,000,000	964,000,000	1,002,000,000	985,000,000	957,000,000	1,027,000,000	668,000,000	664,000,000	719,000,000	757,000,000	625,000,000	591,000,000	423,000,000	372,000,000	630,000,000	468,000,000	414,000,000	326,000,000	598,000,000	671,000,000	663,000,000	692,000,000	809,000,000	809,000,000	870,000,000	1,230,000,000	1,020,200,000	922,900,000	498,300,000	353,700,000	318,300,000	254,500,000	233,800,000	188,200,000	115,000,000
Operating Expenses Margin	8.96%	9.23%	8.93%	8.09%	7.68%	8.22%	8.82%	8.53%	9.99%	9.49%	9.95%	7.45%	8.79%	10.49%	10.01%	9.21%	7.68%	8.02%	8.21%	8.32%	7.22%	6.98%	4.89%	4.68%	7.94%	5.64%	5.36%	4.67%	8.66%	9.32%	10.00%	10.19%	11.26%	11.10%	11.25%	14.82%	12.01%	11.08%	9.86%	7.94%	7.65%	6.73%	6.14%	6.13%	6.02%
Operating Income (EBIT)	1,341,333,333	1,287,000,000	1,150,600,000	1,056,266,667	933,750,000	821,600,000	785,756,667	1,560,000,000	1,327,000,000	1,419,000,000	1,269,000,000	1,336,000,000	1,363,000,000	1,048,000,000	1,027,000,000	1,096,000,000	1,024,000,000	997,000,000	927,000,000	815,000,000	851,000,000	895,000,000	936,000,000	841,000,000	743,000,000	658,000,000	593,000,000	551,000,000	286,000,000	229,000,000	409,000,000	462,000,000	267,000,000	498,000,000	802,000,000	543,000,000	766,700,000	676,500,000	244,500,000	284,400,000	370,300,000	328,800,000	275,400,000	230,000,000	143,700,000
Operating Income (EBIT) Margin	10.97%	11.21%	11.10%	10.78%	9.94%	9.02%	8.81%	12.85%	11.29%	12.02%	10.57%	10.32%	11.96%	11.16%	10.74%	9.83%	11.77%	12.04%	10.58%	8.96%	9.83%	10.57%	10.83%	10.59%	9.36%	7.92%	7.67%	7.89%	4.14%	3.18%	6.17%	6.80%	3.72%	6.83%	10.37%	6.54%	9.03%	8.12%	4.84%	6.39%	8.90%	8.70%	7.23%	7.49%	7.52%
Interest Income	50,000,000	33,400,000	24,100,000	18,666,667	14,850,000	11,880,000	9,900,000	62,000,000	79,000,000	82,000,000	53,000,000	15,000,000	9,000,000	8,000,000	15,000,000	21,000,000	15,000,000	12,000,000	11,000,000	7,000,000	5,000,000	7,000,000	11,000,000	9,000,000	6,000,000	11,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.42%	0.28%	0.22%	0.18%	0.14%	0.11%	0.10%	0.51%	0.67%	0.69%	0.44%	0.12%	0.08%	0.09%	0.16%	0.19%	0.17%	0.14%	0.13%	0.08%	0.06%	0.08%	0.13%	0.11%	0.08%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	390,666,667	343,000,000	323,100,000	292,066,667	361,350,000	483,120,000	456,256,667	411,000,000	457,000,000	452,000,000	436,000,000	284,000,000	253,000,000	290,000,000	367,000,000	384,000,000	252,000,000	243,000,000	270,000,000	253,000,000	236,000,000	226,000,000	232,000,000	203,000,000	247,000,000	302,000,000	593,000,000	276,000,000	1,428,000,000	441,000,000	306,000,000	1,951,000,000	1,081,000,000	1,072,000,000	667,000,000	319,000,000	294,800,000	197,800,000	131,100,000	100,700,000	174,500,000	67,400,000	53,500,000	43,300,000	0
Interest Expense Margin	3.22%	2.99%	3.12%	2.97%	4.18%	6.11%	5.79%	3.39%	3.89%	3.83%	3.63%	2.19%	2.22%	3.09%	3.84%	3.44%	2.90%	2.93%	3.08%	2.78%	2.73%	2.67%	2.68%	2.56%	3.11%	3.64%	7.67%	3.95%	20.67%	6.13%	4.62%	28.72%	15.04%	14.71%	8.63%	3.84%	3.47%	2.37%	2.59%	2.26%	4.19%	1.78%	1.41%	1.41%	0.00%
Net Interest Income	-340,666,667	-309,600,000	-299,000,000	-273,400,000	-231,650,000	-185,320,000	-154,433,333	-349,000,000	-378,000,000	-370,000,000	-383,000,000	-269,000,000	-244,000,000	-282,000,000	-352,000,000	-363,000,000	-237,000,000	-231,000,000	-259,000,000	-246,000,000	-231,000,000	-219,000,000	-221,000,000	-194,000,000	-241,000,000	-291,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-2.80%	-2.71%	-2.90%	-2.79%	-2.42%	-1.94%	-1.62%	-2.87%	-3.22%	-3.14%	-3.19%	-2.08%	-2.14%	-3.00%	-3.68%	-3.26%	-2.72%	-2.79%	-2.96%	-2.70%	-2.67%	-2.59%	-2.56%	-2.44%	-3.04%	-3.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	798,666,667	1,003,600,000	791,400,000	694,533,333	747,750,000	892,640,000	850,863,333	499,000,000	1,345,000,000	1,046,000,000	843,000,000	507,000,000	2,023,000,000	599,000,000	743,000,000	715,000,000	432,000,000	459,000,000	547,000,000	540,000,000	506,000,000	467,000,000	570,000,000	421,000,000	525,000,000	507,000,000	985,000,000	492,000,000	2,028,000,000	537,000,000	652,000,000	2,574,000,000	1,796,000,000	1,802,000,000	1,183,000,000	683,000,000	612,200,000	455,900,000	275,800,000	198,500,000	266,500,000	139,800,000	117,000,000	94,900,000	-4,400,000
Unusual Items Margin	6.60%	8.79%	7.49%	6.94%	8.30%	10.83%	10.42%	4.11%	11.44%	8.86%	7.02%	3.92%	17.75%	6.38%	7.77%	6.41%	4.97%	5.54%	6.24%	5.94%	5.85%	5.51%	6.59%	5.30%	6.61%	6.10%	12.75%	7.05%	29.36%	7.46%	9.83%	37.90%	24.99%	24.72%	15.30%	8.23%	7.21%	5.47%	5.46%	4.46%	6.40%	3.70%	3.07%	3.09%	-0.23%
EBT Excluding Unusual Items	84,666,667	-410,600,000	-133,200,000	-59,400,000	-215,250,000	-492,440,000	-469,613,333	911,000,000	-985,000,000	-303,000,000	-34,000,000	591,000,000	-2,439,000,000	132,000,000	-107,000,000	29,000,000	397,000,000	310,000,000	92,000,000	-19,000,000	70,000,000	180,000,000	17,000,000	193,000,000	-66,000,000	-65,000,000	-784,000,000	-157,000,000	-2,342,000,000	-404,000,000	-589,000,000	-2,735,000,000	-2,244,000,000	-2,034,000,000	-897,000,000	-504,000,000	-162,900,000	-37,500,000	-176,000,000	-11,900,000	11,800,000	116,600,000	94,900,000	83,500,000	152,500,000
EBT Excluding Unusual Items Margin	0.57%	-3.66%	-0.98%	-0.30%	-2.62%	-6.65%	-6.33%	7.50%	-8.38%	-2.57%	-0.28%	4.57%	-21.41%	1.41%	-1.12%	0.26%	4.56%	3.74%	1.05%	-0.21%	0.81%	2.13%	0.20%	2.43%	-0.83%	-0.78%	-10.15%	-2.25%	-33.90%	-5.61%	-8.88%	-40.27%	-31.22%	-27.91%	-11.60%	-6.07%	-1.92%	-0.45%	-3.48%	-0.27%	0.28%	3.08%	2.49%	2.72%	7.99%
Pre-Tax Income	883,333,333	593,000,000	658,200,000	635,133,333	532,500,000	400,200,000	381,250,000	1,410,000,000	360,000,000	743,000,000	809,000,000	1,098,000,000	-416,000,000	731,000,000	636,000,000	744,000,000	829,000,000	769,000,000	639,000,000	521,000,000	576,000,000	647,000,000	587,000,000	614,000,000	459,000,000	442,000,000	201,000,000	335,000,000	-314,000,000	133,000,000	63,000,000	-161,000,000	-448,000,000	-232,000,000	286,000,000	179,000,000	449,300,000	418,400,000	99,800,000	186,600,000	278,300,000	256,400,000	211,900,000	178,400,000	148,100,000
Pre-Tax Income Margin	7.17%	5.13%	6.51%	6.64%	5.68%	4.18%	4.09%	11.61%	3.06%	6.30%	6.74%	8.48%	-3.65%	7.78%	6.65%	6.67%	9.53%	9.28%	7.29%	5.73%	6.65%	7.64%	6.79%	7.73%	5.78%	5.32%	2.60%	4.80%	-4.55%	1.85%	0.95%	-2.37%	-6.23%	-3.18%	3.70%	2.16%	5.29%	5.02%	1.97%	4.19%	6.69%	6.78%	5.57%	5.81%	7.75%
Income Tax Expense	216,000,000	158,000,000	190,700,000	164,933,333	106,450,000	112,240,000	109,733,333	336,000,000	114,000,000	183,000,000	222,000,000	243,000,000	-57,000,000	199,000,000	136,000,000	216,000,000	401,000,000	186,000,000	178,000,000	43,000,000	148,000,000	17,000,000	194,000,000	165,000,000	7,000,000	112,000,000	-400,000,000	-62,000,000	-2,000,000	82,000,000	95,000,000	30,000,000	528,000,000	-58,000,000	105,000,000	74,000,000	147,700,000	134,400,000	24,900,000	55,600,000	97,400,000	101,000,000	83,800,000	71,300,000	53,900,000
Income Tax Expense Margin	1.76%	1.38%	1.91%	1.72%	1.06%	1.23%	1.23%	2.77%	0.97%	1.55%	1.85%	1.88%	-0.50%	2.12%	1.42%	1.94%	4.61%	2.25%	2.03%	0.47%	1.71%	0.20%	2.24%	2.08%	0.09%	1.35%	-5.18%	-0.89%	-0.03%	1.14%	1.43%	0.44%	7.35%	-0.80%	1.36%	0.89%	1.74%	1.61%	0.49%	1.25%	2.34%	2.67%	2.20%	2.32%	2.82%
Net Income	533,666,667	324,000,000	378,100,000	377,333,333	334,750,000	174,520,000	176,730,000	946,000,000	98,000,000	424,000,000	450,000,000	727,000,000	-560,000,000	579,000,000	510,000,000	439,000,000	323,000,000	496,000,000	393,000,000	390,000,000	324,000,000	559,000,000	282,000,000	324,000,000	334,000,000	226,000,000	528,000,000	309,000,000	-362,000,000	51,000,000	-32,000,000	-1,205,000,000	-972,000,000	-174,000,000	181,000,000	105,000,000	294,000,000	284,000,000	74,900,000	131,000,000	99,100,000	155,400,000	128,100,000	107,100,000	94,200,000
Net Income Margin	4.32%	2.84%	3.77%	3.98%	3.63%	1.57%	1.70%	7.79%	0.83%	3.59%	3.75%	5.62%	-4.91%	6.16%	5.34%	3.94%	3.71%	5.99%	4.49%	4.29%	3.74%	6.60%	3.26%	4.08%	4.21%	2.72%	6.83%	4.43%	-5.24%	0.71%	-0.48%	-17.74%	-13.52%	-2.39%	2.34%	1.27%	3.46%	3.41%	1.48%	2.94%	2.38%	4.11%	3.36%	3.49%	4.93%
Depreciation and Amortization	469,000,000	455,200,000	392,200,000	318,266,667	296,250,000	317,120,000	342,506,667	444,000,000	471,000,000	448,000,000	499,000,000	460,000,000	447,000,000	422,000,000	490,000,000	425,000,000	247,000,000	247,000,000	237,000,000	190,000,000	134,000,000	180,000,000	176,000,000	172,000,000	194,000,000	216,000,000	229,000,000	230,000,000	282,000,000	308,000,000	326,000,000	375,000,000	499,000,000	495,000,000	522,000,000	533,000,000	540,000,000	495,900,000	256,300,000	218,300,000	191,700,000	142,400,000	128,400,000	102,000,000	61,800,000
Depreciation and Amortization Margin	3.84%	3.98%	3.74%	3.16%	3.14%	3.65%	4.06%	3.66%	4.01%	3.80%	4.15%	3.55%	3.92%	4.49%	5.13%	3.81%	2.84%	2.98%	2.70%	2.09%	1.55%	2.13%	2.04%	2.17%	2.44%	2.60%	2.96%	3.29%	4.08%	4.28%	4.92%	5.52%	6.94%	6.79%	6.75%	6.42%	6.36%	5.95%	5.07%	4.90%	4.61%	3.77%	3.37%	3.32%	3.24%
EBITDA	1,821,333,333	1,438,200,000	1,419,800,000	1,298,800,000	1,155,650,000	1,091,720,000	1,101,910,000	2,054,000,000	1,851,000,000	1,898,000,000	1,820,000,000	1,746,000,000	279,000,000	1,448,000,000	1,475,000,000	1,586,000,000	1,378,000,000	1,318,000,000	1,250,000,000	1,174,000,000	1,051,000,000	1,075,000,000	995,000,000	989,000,000	797,000,000	960,000,000	748,000,000	753,000,000	373,000,000	830,000,000	687,000,000	856,000,000	814,000,000	993,000,000	1,324,000,000	1,394,000,000	1,373,000,000	1,172,500,000	500,800,000	502,700,000	562,000,000	471,200,000	403,800,000	332,000,000	205,500,000
EBITDA Margin	14.91%	12.52%	13.83%	13.33%	12.37%	12.28%	12.70%	16.92%	15.75%	16.08%	15.15%	13.49%	2.45%	15.42%	15.43%	14.22%	15.84%	15.91%	14.27%	12.91%	12.14%	12.69%	11.51%	12.45%	10.04%	11.56%	9.68%	10.78%	5.40%	11.53%	10.36%	12.60%	11.33%	13.62%	17.12%	16.80%	16.16%	14.07%	9.91%	11.29%	13.50%	12.46%	10.61%	10.81%	10.76%
NOPAT	1,010,199,991	993,909,182	850,804,551	800,084,043	796,722,521	692,711,278	643,373,685	1,188,255,319	906,783,333	1,069,502,019	920,770,087	1,040,327,869	1,176,242,788	762,703,146	807,389,937	777,806,452	528,675,513	755,853,056	668,774,648	747,735,125	632,340,278	871,483,771	626,657,581	614,998,371	731,668,845	491,266,968	1,773,099,502	652,976,119	284,178,344	87,812,030	-207,746,032	548,086,957	581,678,571	373,500,000	507,559,441	318,519,553	514,659,960	459,192,161	183,497,495	199,659,164	240,701,653	199,280,499	166,487,683	138,077,354	91,401,350
NOPAT Margin	8.26%	8.64%	8.15%	8.15%	8.69%	7.73%	7.29%	9.79%	7.71%	9.06%	7.67%	8.04%	10.32%	8.12%	8.45%	6.98%	6.08%	9.12%	7.63%	8.22%	7.31%	10.29%	7.25%	7.74%	9.22%	5.92%	22.95%	9.35%	4.11%	1.22%	-3.13%	8.07%	8.09%	5.12%	6.56%	3.84%	6.06%	5.51%	3.63%	4.48%	5.78%	5.27%	4.37%	4.49%	4.79%
Owner's Earnings	324,333,333	106,600,000	212,100,000	213,600,000	224,850,000	134,000,000	140,320,000	1,060,000,000	136,000,000	469,000,000	156,000,000	348,000,000	-913,000,000	473,000,000	568,000,000	402,000,000	72,000,000	270,000,000	276,000,000	252,000,000	183,000,000	415,000,000	57,000,000	176,000,000	348,000,000	268,000,000	601,000,000	348,000,000	-272,000,000	221,000,000	159,000,000	-945,000,000	-641,000,000	59,000,000	374,000,000	120,000,000	319,200,000	148,700,000	-102,300,000	-90,500,000	19,500,000	147,200,000	164,300,000	81,100,000	67,400,000
Owner's Earnings Margin	2.65%	1.00%	2.18%	2.30%	2.54%	1.37%	1.47%	8.73%	1.16%	3.97%	1.30%	2.69%	-8.01%	5.04%	5.94%	3.61%	0.83%	3.26%	3.15%	2.77%	2.11%	4.90%	0.66%	2.22%	4.38%	3.23%	7.78%	4.98%	-3.94%	3.07%	2.40%	-13.91%	-8.92%	0.81%	4.84%	1.45%	3.76%	1.78%	-2.02%	-2.03%	0.47%	3.89%	4.32%	2.64%	3.53%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,251,333,333	11,508,000,000	10,399,400,000	9,786,800,000	9,233,100,000	8,790,360,000	8,589,043,333	11,801,000,000	12,010,000,000	12,943,000,000	11,394,000,000	9,392,000,000	9,559,000,000	11,151,000,000	8,698,000,000	8,284,000,000	8,762,000,000	9,097,000,000	8,656,000,000	8,470,000,000	8,644,000,000	7,941,000,000	7,938,000,000	8,305,000,000	7,727,000,000	6,982,000,000	6,908,000,000	7,199,000,000	6,630,000,000	6,792,000,000	7,187,000,000	7,289,000,000	7,732,000,000	8,300,000,000	8,494,600,000	8,331,900,000	5,053,800,000	4,452,200,000	4,162,600,000	3,780,700,000	3,807,400,000	3,072,100,000	1,909,800,000
Cash & Cash Equivalents	1,018,333,333	976,800,000	789,500,000	713,600,000	645,850,000	600,000,000	532,836,667	1,016,000,000	1,400,000,000	639,000,000	592,000,000	1,237,000,000	657,000,000	652,000,000	426,000,000	559,000,000	717,000,000	965,000,000	689,000,000	350,000,000	342,000,000	463,000,000	459,000,000	596,000,000	457,000,000	407,000,000	294,000,000	481,000,000	401,000,000	363,000,000	456,000,000	382,000,000	267,000,000	284,000,000	205,600,000	160,400,000	68,100,000	43,500,000	54,200,000	26,900,000	20,200,000	21,800,000	14,400,000
Cash & Cash Equivalents Margin	8.40%	8.71%	7.61%	7.24%	6.88%	6.69%	5.99%	8.61%	11.66%	4.94%	5.20%	13.17%	6.87%	5.85%	4.90%	6.75%	8.18%	10.61%	7.96%	4.13%	3.96%	5.83%	5.78%	7.18%	5.91%	5.83%	4.26%	6.68%	6.05%	5.34%	6.34%	5.24%	3.45%	3.42%	2.42%	1.93%	1.35%	0.98%	1.30%	0.71%	0.53%	0.71%	0.75%
Short-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Investments Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	1,018,333,333	976,800,000	789,500,000	713,600,000	645,850,000	600,000,000	532,836,667	1,016,000,000	1,400,000,000	639,000,000	592,000,000	1,237,000,000	657,000,000	652,000,000	426,000,000	559,000,000	717,000,000	965,000,000	689,000,000	350,000,000	342,000,000	463,000,000	459,000,000	596,000,000	457,000,000	407,000,000	294,000,000	481,000,000	401,000,000	363,000,000	456,000,000	382,000,000	267,000,000	284,000,000	205,600,000	160,400,000	68,100,000	43,500,000	54,200,000	26,900,000	20,200,000	21,800,000	14,400,000
Cash & Short-Term Investments Margin	8.40%	8.71%	7.61%	7.24%	6.88%	6.69%	5.99%	8.61%	11.66%	4.94%	5.20%	13.17%	6.87%	5.85%	4.90%	6.75%	8.18%	10.61%	7.96%	4.13%	3.96%	5.83%	5.78%	7.18%	5.91%	5.83%	4.26%	6.68%	6.05%	5.34%	6.34%	5.24%	3.45%	3.42%	2.42%	1.93%	1.35%	0.98%	1.30%	0.71%	0.53%	0.71%	0.75%
Net Receivables	1,751,000,000	1,741,400,000	1,472,700,000	1,317,533,333	1,163,650,000	1,115,920,000	1,129,003,333	1,665,000,000	1,727,000,000	1,861,000,000	1,912,000,000	1,542,000,000	1,558,000,000	1,618,000,000	1,067,000,000	865,000,000	912,000,000	1,031,000,000	1,064,000,000	1,057,000,000	948,000,000	936,000,000	728,000,000	734,000,000	673,000,000	689,000,000	686,000,000	900,000,000	794,000,000	782,000,000	996,000,000	1,153,000,000	1,166,000,000	1,359,000,000	1,353,500,000	1,349,300,000	744,300,000	738,000,000	532,900,000	583,800,000	617,600,000	478,400,000	313,100,000
Net Receivables Margin	14.29%	15.21%	14.00%	13.26%	12.27%	12.44%	12.98%	14.11%	14.38%	14.38%	16.78%	16.42%	16.30%	14.51%	12.27%	10.44%	10.41%	11.33%	12.29%	12.48%	10.97%	11.79%	9.17%	8.84%	8.71%	9.87%	9.93%	12.50%	11.98%	11.51%	13.86%	15.82%	15.08%	16.37%	15.93%	16.19%	14.73%	16.58%	12.80%	15.44%	16.22%	15.57%	16.39%
Inventory	1,689,000,000	1,613,000,000	1,522,400,000	1,409,000,000	1,291,000,000	1,218,320,000	1,227,140,000	1,440,000,000	1,613,000,000	2,014,000,000	1,735,000,000	1,263,000,000	1,626,000,000	1,690,000,000	1,385,000,000	1,245,000,000	1,213,000,000	1,324,000,000	1,213,000,000	1,166,000,000	1,148,000,000	1,060,000,000	960,000,000	979,000,000	1,030,000,000	906,000,000	810,000,000	894,000,000	815,000,000	779,000,000	862,000,000	1,288,000,000	1,312,000,000	1,421,000,000	1,387,500,000	1,423,800,000	811,900,000	767,500,000	699,700,000	659,900,000	489,000,000	466,300,000	301,900,000
Inventory Margin	13.73%	13.97%	14.68%	14.39%	13.89%	13.74%	14.24%	12.20%	13.43%	15.56%	15.23%	13.45%	17.01%	15.16%	15.92%	15.03%	13.84%	14.55%	14.01%	13.77%	13.28%	13.35%	12.09%	11.79%	13.33%	12.98%	11.73%	12.42%	12.29%	11.47%	11.99%	17.67%	16.97%	17.12%	16.33%	17.09%	16.07%	17.24%	16.81%	17.45%	12.84%	15.18%	15.81%
Other Current Assets	109,333,333	289,000,000	230,000,000	223,333,333	178,200,000	151,080,000	154,020,000	90,000,000	93,000,000	145,000,000	256,000,000	861,000,000	161,000,000	119,000,000	196,000,000	172,000,000	207,000,000	304,000,000	214,000,000	177,000,000	165,000,000	190,000,000	95,000,000	29,000,000	18,000,000	60,000,000	12,000,000	15,000,000	0	0	108,000,000	90,000,000	96,000,000	104,000,000	200,600,000	358,400,000	84,600,000	56,600,000	37,700,000	31,300,000	22,100,000	16,300,000	26,100,000
Other Current Assets Margin	0.89%	2.81%	2.35%	2.38%	1.93%	1.66%	1.74%	0.76%	0.77%	1.12%	2.25%	9.17%	1.68%	1.07%	2.25%	2.08%	2.36%	3.34%	2.47%	2.09%	1.91%	2.39%	1.20%	0.35%	0.23%	0.86%	0.17%	0.21%	0.00%	0.00%	1.50%	1.23%	1.24%	1.25%	2.36%	4.30%	1.67%	1.27%	0.91%	0.83%	0.58%	0.53%	1.37%
Total Current Assets	4,567,666,667	4,620,200,000	4,014,600,000	3,663,466,667	3,289,600,000	3,104,640,000	3,059,100,000	4,211,000,000	4,833,000,000	4,659,000,000	4,495,000,000	4,903,000,000	4,002,000,000	4,079,000,000	3,074,000,000	2,841,000,000	3,049,000,000	3,624,000,000	3,180,000,000	2,750,000,000	2,603,000,000	2,649,000,000	2,242,000,000	2,457,000,000	2,234,000,000	2,062,000,000	1,845,000,000	2,343,000,000	2,122,000,000	2,024,000,000	2,422,000,000	2,913,000,000	2,841,000,000	3,168,000,000	3,147,200,000	3,291,900,000	1,708,900,000	1,605,600,000	1,324,500,000	1,301,900,000	1,148,900,000	982,800,000	655,500,000
Total Current Assets Margin	37.31%	40.72%	38.65%	37.26%	35.10%	34.80%	35.18%	35.68%	40.24%	36.00%	39.45%	52.20%	41.87%	36.58%	35.34%	34.30%	34.80%	39.84%	36.74%	32.47%	30.11%	33.36%	28.24%	29.58%	28.91%	29.53%	26.71%	32.55%	32.01%	29.80%	33.70%	39.96%	36.74%	38.17%	37.05%	39.51%	33.81%	36.06%	31.82%	34.44%	30.18%	31.99%	34.32%
Property, Plant & Equipment	5,054,000,000	4,642,400,000	3,980,600,000	3,316,733,333	2,877,600,000	2,778,600,000	2,861,670,000	5,128,000,000	5,273,000,000	4,761,000,000	4,227,000,000	3,823,000,000	4,091,000,000	3,745,000,000	3,239,000,000	2,820,000,000	2,699,000,000	2,437,000,000	2,152,000,000	1,995,000,000	1,751,000,000	1,610,000,000	1,509,000,000	1,473,000,000	1,604,000,000	1,608,000,000	1,607,000,000	2,002,000,000	2,112,000,000	2,212,000,000	2,618,000,000	2,969,000,000	3,255,000,000	3,743,000,000	3,663,900,000	3,717,300,000	2,005,900,000	1,816,500,000	1,593,500,000	1,373,300,000	1,229,300,000	1,184,600,000	763,700,000
Property, Plant & Equipment Margin	41.38%	40.39%	38.04%	33.08%	30.00%	30.77%	32.80%	43.45%	43.91%	36.78%	37.10%	40.70%	42.80%	33.58%	37.24%	34.04%	30.80%	26.79%	24.86%	23.55%	20.26%	20.27%	19.01%	17.74%	20.76%	23.03%	23.26%	27.81%	31.86%	32.57%	36.43%	40.73%	42.10%	45.10%	43.13%	44.62%	39.69%	40.80%	38.28%	36.32%	32.29%	38.56%	39.99%
Goodwill	3,007,333,333	3,035,000,000	3,288,700,000	2,900,533,333	2,695,550,000	2,260,120,000	1,883,433,333	2,954,000,000	3,117,000,000	2,951,000,000	3,007,000,000	3,146,000,000	4,430,000,000	4,442,000,000	3,046,000,000	2,791,000,000	3,003,000,000	2,671,000,000	2,016,000,000	1,998,000,000	1,952,000,000	1,984,000,000	2,050,000,000	1,956,000,000	2,199,000,000	2,185,000,000	2,013,000,000	2,592,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	24.60%	26.73%	32.28%	29.78%	29.25%	24.84%	20.70%	25.03%	25.95%	22.80%	26.39%	33.50%	46.34%	39.83%	35.02%	33.69%	34.27%	29.36%	23.29%	23.59%	22.58%	24.98%	25.83%	23.55%	28.46%	31.29%	29.14%	36.01%	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%
Intangible Assets	1,220,000,000	1,388,000,000	1,266,900,000	861,600,000	647,050,000	1,007,880,000	1,484,026,667	1,044,000,000	1,258,000,000	1,358,000,000	1,525,000,000	1,755,000,000	2,015,000,000	2,193,000,000	472,000,000	472,000,000	577,000,000	255,000,000	0	0	0	0	0	0	0	0	17,000,000	0	2,442,000,000	2,269,000,000	3,625,000,000	3,920,000,000	4,228,000,000	4,565,000,000	4,625,200,000	4,809,900,000	1,095,700,000	1,122,400,000	1,119,100,000	994,100,000	501,600,000	362,500,000	186,800,000
Intangible Assets Margin	9.94%	12.38%	12.03%	8.21%	6.17%	11.91%	18.05%	8.85%	10.47%	10.49%	13.38%	18.69%	21.08%	19.67%	5.43%	5.70%	6.59%	2.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	36.83%	33.41%	50.44%	53.78%	54.68%	55.00%	54.45%	57.73%	21.68%	25.21%	26.88%	26.29%	13.17%	11.80%	9.78%
Long-Term Investments	203,000,000	171,600,000	101,500,000	75,666,667	68,000,000	66,240,000	55,200,000	160,000,000	200,000,000	249,000,000	213,000,000	36,000,000	80,000,000	46,000,000	22,000,000	4,000,000	5,000,000	5,000,000	20,000,000	31,000,000	25,000,000	39,000,000	41,000,000	22,000,000	37,000,000	79,000,000	46,000,000	102,000,000	83,000,000	111,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	1.65%	1.44%	0.88%	0.68%	0.66%	0.70%	0.59%	1.36%	1.67%	1.92%	1.87%	0.38%	0.84%	0.41%	0.25%	0.05%	0.06%	0.05%	0.23%	0.37%	0.29%	0.49%	0.52%	0.26%	0.48%	1.13%	0.67%	1.42%	1.25%	1.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	126,333,333	152,800,000	293,200,000	369,600,000	360,150,000	281,560,000	234,633,333	134,000,000	132,000,000	113,000,000	150,000,000	235,000,000	278,000,000	272,000,000	399,000,000	593,000,000	626,000,000	565,000,000	488,000,000	577,000,000	452,000,000	530,000,000	601,000,000	550,000,000	419,000,000	30,000,000	59,000,000	30,000,000	-83,000,000	-111,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	1.04%	1.39%	3.12%	4.12%	4.13%	3.21%	2.67%	1.14%	1.10%	0.87%	1.32%	2.50%	2.91%	2.44%	4.59%	7.16%	7.14%	6.21%	5.64%	6.81%	5.23%	6.67%	7.57%	6.62%	5.42%	0.43%	0.85%	0.42%	-1.25%	-1.63%	0.00%	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	216,000,000	736,400,000	535,600,000	399,466,667	384,250,000	526,000,000	574,856,667	217,000,000	221,000,000	210,000,000	241,000,000	2,793,000,000	609,000,000	485,000,000	411,000,000	78,000,000	91,000,000	151,000,000	174,000,000	139,000,000	85,000,000	87,000,000	89,000,000	-234,000,000	486,000,000	394,000,000	958,000,000	1,056,000,000	1,097,000,000	1,000,000,000	955,000,000	1,357,000,000	1,221,000,000	993,000,000	869,400,000	771,100,000	241,200,000	236,800,000	179,800,000	155,800,000	102,700,000	66,600,000	49,100,000
Other Non-Current Assets Margin	1.77%	7.43%	5.46%	4.13%	4.30%	6.56%	7.20%	1.84%	1.84%	1.62%	2.12%	29.74%	6.37%	4.35%	4.73%	0.94%	1.04%	1.66%	2.01%	1.64%	0.98%	1.10%	1.12%	-2.82%	6.29%	5.64%	13.87%	14.67%	16.55%	14.72%	13.29%	18.62%	15.79%	11.96%	10.23%	9.25%	4.77%	5.32%	4.32%	4.12%	2.70%	2.17%	2.57%
Other Assets	0	0	-326,400,000	-217,600,000	-163,200,000	-130,560,000	-108,800,000	0	0	0	0	0	0	0	0	-3,264,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	-3.94%	-2.63%	-1.97%	-1.58%	-1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-39.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	9,826,666,667	10,126,200,000	9,466,500,000	7,923,600,000	7,032,600,000	6,920,400,000	7,093,820,000	9,637,000,000	10,201,000,000	9,642,000,000	9,363,000,000	11,788,000,000	11,503,000,000	11,183,000,000	7,589,000,000	6,758,000,000	7,001,000,000	6,084,000,000	4,850,000,000	4,740,000,000	4,265,000,000	4,250,000,000	4,290,000,000	3,767,000,000	4,745,000,000	4,296,000,000	4,700,000,000	5,782,000,000	5,651,000,000	5,481,000,000	7,198,000,000	8,246,000,000	8,704,000,000	9,301,000,000	9,158,500,000	9,298,300,000	3,342,800,000	3,175,700,000	2,892,400,000	2,523,200,000	1,833,600,000	1,613,700,000	999,600,000
Total Non-Current Assets Margin	80.37%	89.76%	91.81%	79.99%	74.51%	77.99%	82.00%	81.66%	84.94%	74.50%	82.17%	125.51%	120.34%	100.29%	87.25%	81.58%	79.90%	66.88%	56.03%	55.96%	49.34%	53.52%	54.04%	45.36%	61.41%	61.53%	68.04%	80.32%	85.23%	80.70%	100.15%	113.13%	112.57%	112.06%	107.82%	111.60%	66.14%	71.33%	69.49%	66.74%	48.16%	52.53%	52.34%
Total Assets	14,394,333,333	14,746,400,000	13,481,100,000	11,587,066,667	10,322,200,000	10,025,040,000	10,152,920,000	13,848,000,000	15,034,000,000	14,301,000,000	13,858,000,000	16,691,000,000	15,505,000,000	15,262,000,000	10,663,000,000	9,599,000,000	10,050,000,000	9,708,000,000	8,030,000,000	7,490,000,000	6,868,000,000	6,899,000,000	6,532,000,000	6,224,000,000	6,979,000,000	6,358,000,000	6,545,000,000	8,125,000,000	7,773,000,000	7,505,000,000	9,620,000,000	11,159,000,000	11,545,000,000	12,469,000,000	12,305,700,000	12,590,200,000	5,051,700,000	4,781,300,000	4,216,900,000	3,825,100,000	2,982,500,000	2,596,500,000	1,655,100,000
Total Assets Margin	117.67%	130.47%	130.46%	117.26%	109.61%	112.79%	117.17%	117.35%	125.18%	110.49%	121.63%	177.72%	162.20%	136.87%	122.59%	115.87%	114.70%	106.72%	92.77%	88.43%	79.45%	86.88%	82.29%	74.94%	90.32%	91.06%	94.75%	112.86%	117.24%	110.50%	133.85%	153.09%	149.31%	150.23%	144.86%	151.11%	99.96%	107.39%	101.30%	101.17%	78.33%	84.52%	86.66%
Accounts Payable	2,552,333,333	2,539,800,000	2,423,300,000	2,136,266,667	1,905,000,000	1,752,000,000	1,720,260,000	2,425,000,000	2,459,000,000	2,773,000,000	2,901,000,000	2,141,000,000	2,646,000,000	2,732,000,000	2,367,000,000	1,951,000,000	1,838,000,000	1,881,000,000	1,768,000,000	1,469,000,000	1,393,000,000	1,300,000,000	1,163,000,000	1,266,000,000	1,328,000,000	1,224,000,000	1,075,000,000	1,186,000,000	955,000,000	820,000,000	836,000,000	1,903,000,000	1,127,000,000	1,315,000,000	2,236,700,000	2,460,900,000	668,200,000	737,100,000	795,300,000	738,400,000	535,900,000	595,300,000	405,500,000
Accounts Payable Margin	20.82%	22.14%	23.46%	21.70%	20.29%	19.46%	19.53%	20.55%	20.47%	21.42%	25.46%	22.80%	27.68%	24.50%	27.21%	23.55%	20.98%	20.68%	20.43%	17.34%	16.12%	16.37%	14.65%	15.24%	17.19%	17.53%	15.56%	16.47%	14.40%	12.07%	11.63%	26.11%	14.58%	15.84%	26.33%	29.54%	13.22%	16.56%	19.11%	19.53%	14.08%	19.38%	21.23%
Short-Term Debt	415,333,333	343,200,000	266,400,000	283,933,333	241,150,000	277,600,000	482,803,333	194,000,000	821,000,000	231,000,000	254,000,000	216,000,000	190,000,000	175,000,000	126,000,000	194,000,000	263,000,000	252,000,000	373,000,000	376,000,000	195,000,000	399,000,000	59,000,000	90,000,000	83,000,000	121,000,000	211,000,000	76,000,000	230,000,000	666,000,000	845,000,000	300,000,000	1,531,000,000	2,466,000,000	1,784,700,000	1,154,300,000	608,100,000	735,800,000	474,800,000	379,400,000	184,400,000	128,400,000	157,600,000
Short-Term Debt Margin	3.42%	2.96%	2.51%	2.93%	2.58%	3.27%	5.94%	1.64%	6.84%	1.78%	2.23%	2.30%	1.99%	1.57%	1.45%	2.34%	3.00%	2.77%	4.31%	4.44%	2.26%	5.02%	0.74%	1.08%	1.07%	1.73%	3.05%	1.06%	3.47%	9.81%	11.76%	4.12%	19.80%	29.71%	21.01%	13.85%	12.03%	16.53%	11.41%	10.04%	4.84%	4.18%	8.25%
Tax Payables	166,666,667	191,200,000	176,600,000	147,133,333	115,400,000	97,320,000	81,100,000	192,000,000	119,000,000	189,000,000	205,000,000	251,000,000	206,000,000	171,000,000	143,000,000	141,000,000	149,000,000	132,000,000	137,000,000	129,000,000	13,000,000	30,000,000	25,000,000	18,000,000	0	0	58,000,000	0	62,000,000	63,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Payables Margin	1.36%	1.71%	1.73%	1.49%	1.19%	1.02%	0.85%	1.63%	0.99%	1.46%	1.80%	2.67%	2.16%	1.53%	1.64%	1.70%	1.70%	1.45%	1.58%	1.52%	0.15%	0.38%	0.31%	0.22%	0.00%	0.00%	0.84%	0.00%	0.94%	0.93%	0.00%	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 Revenue	0	0	800,000	533,333	400,000	41,280,000	34,400,000	0	0	0	0	0	5,000,000	3,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	123,000,000	144,000,000	757,000,000	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	0.00%	0.00%	0.01%	0.01%	0.00%	0.58%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.86%	2.12%	10.53%	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	605,000,000	827,800,000	737,500,000	664,000,000	602,850,000	560,760,000	526,063,333	528,000,000	604,000,000	683,000,000	683,000,000	1,641,000,000	786,000,000	746,000,000	572,000,000	555,000,000	577,000,000	589,000,000	566,000,000	481,000,000	510,000,000	439,000,000	472,000,000	494,000,000	410,000,000	385,000,000	336,000,000	391,000,000	750,000,000	695,000,000	68,000,000	58,000,000	756,000,000	929,000,000	27,900,000	47,300,000	2,700,000	10,100,000	10,600,000	17,600,000	41,100,000	12,600,000	31,400,000
Other Current Liabilities Margin	4.93%	7.65%	7.30%	6.88%	6.54%	6.38%	6.05%	4.47%	5.03%	5.28%	5.99%	17.47%	8.22%	6.69%	6.58%	6.70%	6.59%	6.47%	6.54%	5.68%	5.90%	5.53%	5.95%	5.95%	5.31%	5.51%	4.86%	5.43%	11.31%	10.23%	0.95%	0.80%	9.78%	11.19%	0.33%	0.57%	0.05%	0.23%	0.25%	0.47%	1.08%	0.41%	1.64%
Total Current Liabilities	3,866,000,000	4,002,600,000	3,687,900,000	3,327,000,000	2,994,200,000	2,841,480,000	2,938,393,333	3,465,000,000	4,201,000,000	3,932,000,000	4,133,000,000	4,282,000,000	3,899,000,000	3,913,000,000	3,250,000,000	2,896,000,000	2,908,000,000	2,926,000,000	2,920,000,000	2,518,000,000	2,285,000,000	2,377,000,000	1,925,000,000	2,072,000,000	2,083,000,000	1,956,000,000	1,943,000,000	2,080,000,000	2,036,000,000	2,270,000,000	2,506,000,000	2,261,000,000	3,414,000,000	4,710,000,000	4,049,300,000	3,662,500,000	1,279,000,000	1,483,000,000	1,280,700,000	1,135,400,000	761,400,000	736,300,000	594,500,000
Total Current Liabilities Margin	31.57%	35.32%	35.80%	34.00%	32.11%	32.05%	33.97%	29.36%	34.98%	30.38%	36.27%	45.59%	40.79%	35.09%	37.36%	34.96%	33.19%	32.16%	33.73%	29.73%	26.43%	29.93%	24.25%	24.95%	26.96%	28.01%	28.13%	28.89%	30.71%	33.42%	34.87%	31.02%	44.15%	56.75%	47.67%	43.96%	25.31%	33.31%	30.77%	30.03%	20.00%	23.97%	31.13%
Long-Term Debt	6,516,333,333	6,724,800,000	6,514,800,000	5,526,600,000	4,942,550,000	4,770,640,000	4,491,400,000	6,058,000,000	6,699,000,000	6,792,000,000	6,052,000,000	8,023,000,000	7,818,000,000	8,517,000,000	5,217,000,000	4,717,000,000	5,255,000,000	5,007,000,000	3,469,000,000	3,289,000,000	3,337,000,000	2,649,000,000	2,739,000,000	3,247,000,000	3,354,000,000	3,420,000,000	3,192,000,000	3,794,000,000	3,709,000,000	3,388,000,000	4,475,000,000	5,049,000,000	3,573,000,000	3,188,000,000	3,301,400,000	3,923,500,000	1,490,100,000	1,089,500,000	891,500,000	939,900,000	585,000,000	484,300,000	118,100,000
Long-Term Debt Margin	53.20%	59.63%	63.32%	55.94%	52.56%	53.65%	51.38%	51.33%	55.78%	52.48%	53.12%	85.42%	81.79%	76.38%	59.98%	56.94%	59.97%	55.04%	40.08%	38.83%	38.60%	33.36%	34.50%	39.10%	43.41%	48.98%	46.21%	52.70%	55.94%	49.88%	62.27%	69.27%	46.21%	38.41%	38.86%	47.09%	29.48%	24.47%	21.42%	24.86%	15.36%	15.76%	6.18%
Capital Lease Obligations	224,000,000	220,200,000	137,700,000	91,800,000	68,850,000	55,080,000	45,900,000	214,000,000	225,000,000	233,000,000	200,000,000	229,000,000	218,000,000	29,000,000	29,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	1.83%	1.94%	1.26%	0.84%	0.63%	0.50%	0.42%	1.81%	1.87%	1.80%	1.76%	2.44%	2.28%	0.26%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	350,000,000	347,200,000	316,800,000	225,600,000	199,850,000	229,280,000	224,046,667	338,000,000	338,000,000	374,000,000	336,000,000	350,000,000	405,000,000	399,000,000	202,000,000	203,000,000	223,000,000	96,000,000	31,000,000	23,000,000	27,000,000	39,000,000	30,000,000	98,000,000	81,000,000	106,000,000	298,000,000	342,000,000	317,000,000	370,000,000	352,000,000	354,000,000	381,000,000	0	304,400,000	304,000,000	0	0	19,600,000	196,400,000	179,400,000	125,300,000	131,000,000
Deferred Tax Liabilities Margin	2.86%	3.05%	3.04%	2.19%	2.07%	2.64%	2.61%	2.86%	2.81%	2.89%	2.95%	3.73%	4.24%	3.58%	2.32%	2.45%	2.55%	1.06%	0.36%	0.27%	0.31%	0.49%	0.38%	1.18%	1.05%	1.52%	4.31%	4.75%	4.78%	5.45%	4.90%	4.86%	4.93%	0.00%	3.58%	3.65%	0.00%	0.00%	0.47%	5.19%	4.71%	4.08%	6.86%
Other Non-Current Liabilities	689,333,333	841,400,000	994,300,000	1,143,733,333	1,107,400,000	1,151,680,000	1,117,783,333	589,000,000	752,000,000	727,000,000	849,000,000	1,290,000,000	1,124,000,000	1,147,000,000	1,071,000,000	1,115,000,000	1,279,000,000	1,292,000,000	1,321,000,000	1,537,000,000	1,458,000,000	1,605,000,000	854,000,000	771,000,000	1,123,000,000	1,142,000,000	1,102,000,000	1,429,000,000	1,374,000,000	1,368,000,000	1,282,000,000	1,191,000,000	991,000,000	1,316,000,000	838,600,000	893,100,000	702,800,000	768,200,000	719,600,000	364,200,000	358,100,000	298,600,000	0
Other Non-Current Liabilities Margin	5.62%	7.61%	10.05%	12.34%	12.60%	13.88%	13.67%	4.99%	6.26%	5.62%	7.45%	13.74%	11.76%	10.29%	12.31%	13.46%	14.60%	14.20%	15.26%	18.15%	16.87%	20.21%	10.76%	9.28%	14.53%	16.36%	15.95%	19.85%	20.72%	20.14%	17.84%	16.34%	12.82%	15.86%	9.87%	10.72%	13.91%	17.25%	17.29%	9.63%	9.41%	9.72%	0.00%
Total Non-Current Liabilities	7,735,333,333	8,081,200,000	7,926,500,000	6,963,000,000	6,300,100,000	6,191,920,000	5,866,830,000	7,155,000,000	7,969,000,000	8,082,000,000	7,395,000,000	9,805,000,000	9,514,000,000	10,063,000,000	6,490,000,000	6,035,000,000	6,757,000,000	6,395,000,000	4,821,000,000	4,849,000,000	4,822,000,000	4,293,000,000	3,623,000,000	4,116,000,000	4,558,000,000	4,668,000,000	4,592,000,000	5,567,000,000	5,400,000,000	5,126,000,000	6,109,000,000	6,594,000,000	4,945,000,000	4,504,000,000	4,444,400,000	5,120,600,000	2,192,900,000	1,857,700,000	1,630,700,000	1,500,500,000	1,122,500,000	908,200,000	249,100,000
Total Non-Current Liabilities Margin	63.14%	71.75%	77.31%	71.08%	67.68%	70.54%	67.96%	60.63%	66.35%	62.44%	64.90%	104.40%	99.53%	90.24%	74.61%	72.85%	77.12%	70.30%	55.70%	57.25%	55.78%	54.06%	45.64%	49.56%	58.99%	66.86%	66.47%	77.33%	81.45%	75.47%	85.00%	90.47%	63.95%	54.27%	52.32%	61.46%	43.39%	41.73%	39.18%	39.69%	29.48%	29.56%	13.04%
Total Liabilities	11,601,333,333	12,083,800,000	11,614,400,000	10,290,000,000	9,294,300,000	9,033,400,000	8,805,223,333	10,620,000,000	12,170,000,000	12,014,000,000	11,528,000,000	14,087,000,000	13,413,000,000	13,976,000,000	9,740,000,000	8,931,000,000	9,665,000,000	9,321,000,000	7,741,000,000	7,367,000,000	7,107,000,000	6,670,000,000	5,548,000,000	6,188,000,000	6,641,000,000	6,624,000,000	6,535,000,000	7,647,000,000	7,436,000,000	7,396,000,000	8,615,000,000	8,855,000,000	8,359,000,000	9,214,000,000	8,493,700,000	8,783,100,000	3,471,900,000	3,340,700,000	2,911,400,000	2,635,900,000	1,883,900,000	1,644,500,000	843,600,000
Total Liabilities Margin	94.72%	107.06%	113.11%	105.08%	99.80%	102.58%	101.93%	89.99%	101.33%	92.82%	101.18%	149.99%	140.32%	125.33%	111.98%	107.81%	110.31%	102.46%	89.43%	86.98%	82.22%	83.99%	69.89%	74.51%	85.95%	94.87%	94.60%	106.22%	112.16%	108.89%	119.87%	121.48%	108.11%	111.01%	99.99%	105.42%	68.70%	75.03%	69.94%	69.72%	49.48%	53.53%	44.17%
Preferred Stock	0	0	0	0	0	0	58,053,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	349,000,000	351,000,000	520,800,000	520,800,000	0	0	0	0	0	0	0
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.51%	4.23%	6.13%	6.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	599,333,333	731,200,000	830,100,000	863,066,667	879,550,000	876,440,000	756,333,333	594,000,000	604,000,000	600,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	929,000,000	902,000,000	780,000,000	780,000,000	779,000,000	0	0	0	0	0	0	0	0	0	0
Common Stock Margin	4.90%	6.55%	8.33%	9.18%	9.97%	10.44%	9.04%	5.03%	5.03%	4.64%	8.15%	9.89%	9.72%	8.33%	10.68%	11.21%	10.60%	10.21%	10.73%	10.97%	10.75%	11.70%	11.70%	11.19%	12.02%	13.31%	13.45%	12.90%	14.01%	13.28%	10.85%	10.70%	10.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	3,413,666,667	3,591,800,000	3,311,700,000	2,540,333,333	1,709,300,000	1,265,600,000	1,258,206,667	3,624,000,000	3,476,000,000	3,141,000,000	3,180,000,000	4,538,000,000	3,959,000,000	3,449,000,000	3,004,000,000	2,621,000,000	2,125,000,000	1,782,000,000	1,395,000,000	1,069,000,000	512,000,000	230,000,000	-94,000,000	-428,000,000	-654,000,000	-1,217,000,000	-1,526,000,000	-1,164,000,000	-1,215,000,000	-1,183,000,000	22,000,000	994,000,000	1,295,000,000	1,250,000,000	1,327,200,000	1,185,000,000	1,049,000,000	974,100,000	843,100,000	744,200,000	880,100,000	867,900,000	760,300,000
Retained Earnings Margin	27.97%	32.03%	32.29%	25.34%	16.29%	11.51%	12.34%	30.71%	28.94%	24.27%	27.91%	48.32%	41.42%	30.93%	34.54%	31.64%	24.25%	19.59%	16.12%	12.62%	5.92%	2.90%	-1.18%	-5.15%	-8.46%	-17.43%	-22.09%	-16.17%	-18.33%	-17.42%	0.31%	13.64%	16.75%	15.06%	15.62%	14.22%	20.76%	21.88%	20.25%	19.68%	23.12%	28.25%	39.81%
Accumulated OCI	-1,680,333,333	-2,026,400,000	-2,643,200,000	-2,616,466,667	-2,414,900,000	-2,179,920,000	-2,067,523,333	-1,462,000,000	-1,687,000,000	-1,892,000,000	-1,898,000,000	-3,193,000,000	-3,131,000,000	-3,374,000,000	-3,241,000,000	-3,400,000,000	-3,154,000,000	-2,765,000,000	-2,513,000,000	-2,614,000,000	-2,590,000,000	-2,333,000,000	-2,255,000,000	-2,195,000,000	-1,646,000,000	-1,731,000,000	-1,224,000,000	-1,087,000,000	-1,170,000,000	-1,386,000,000	-1,447,000,000	-1,110,000,000	-676,000,000	-2,153,000,000	-1,921,000,000	-1,537,900,000	-1,239,800,000	-1,049,100,000	-889,100,000	-742,600,000	-668,500,000	-618,900,000	-524,200,000
Accumulated OCI Margin	-13.68%	-18.34%	-26.90%	-27.91%	-26.87%	-25.03%	-24.20%	-12.39%	-14.05%	-14.62%	-16.66%	-34.00%	-32.75%	-30.26%	-37.26%	-41.04%	-36.00%	-30.39%	-29.03%	-30.86%	-29.96%	-29.38%	-28.41%	-26.43%	-21.30%	-24.79%	-17.72%	-15.10%	-17.65%	-20.41%	-20.13%	-15.23%	-8.74%	-25.94%	-22.61%	-18.46%	-24.53%	-23.56%	-21.36%	-19.64%	-17.56%	-20.15%	-27.45%
Minority Interest	454,666,667	437,600,000	383,100,000	348,533,333	340,900,000	312,320,000	300,940,000	472,000,000	454,000,000	438,000,000	418,000,000	406,000,000	379,000,000	349,000,000	322,000,000	302,000,000	291,000,000	268,000,000	285,000,000	285,000,000	234,000,000	325,000,000	389,000,000	353,000,000	323,000,000	279,000,000	246,000,000	201,000,000	197,000,000	196,000,000	201,000,000	195,000,000	295,000,000	280,000,000	282,800,000	243,800,000	118,600,000	75,400,000	53,700,000	45,600,000	14,200,000	1,200,000	900,000
Minority Interest Margin	3.72%	3.83%	3.69%	3.55%	3.71%	3.53%	3.47%	4.00%	3.78%	3.38%	3.67%	4.32%	3.96%	3.13%	3.70%	3.65%	3.32%	2.95%	3.29%	3.36%	2.71%	4.09%	4.90%	4.25%	4.18%	4.00%	3.56%	2.79%	2.97%	2.89%	2.80%	2.68%	3.82%	3.37%	3.33%	2.93%	2.35%	1.69%	1.29%	1.21%	0.37%	0.04%	0.05%
Total Shareholders’ Equity	2,338,333,333	2,225,000,000	1,483,600,000	948,533,333	656,950,000	655,280,000	1,026,723,333	2,756,000,000	2,410,000,000	1,849,000,000	1,912,000,000	2,198,000,000	1,713,000,000	937,000,000	601,000,000	366,000,000	94,000,000	119,000,000	4,000,000	-162,000,000	-473,000,000	-96,000,000	-6,000,000	-317,000,000	15,000,000	-545,000,000	-236,000,000	277,000,000	140,000,000	-87,000,000	804,000,000	2,109,000,000	2,891,000,000	2,975,000,000	3,529,200,000	3,563,300,000	1,461,200,000	1,365,200,000	1,251,800,000	1,143,600,000	1,084,400,000	950,800,000	810,600,000
Total Shareholders’ Equity Margin	19.24%	19.58%	13.66%	8.62%	5.72%	6.37%	11.52%	23.35%	20.07%	14.29%	16.78%	23.40%	17.92%	8.40%	6.91%	4.42%	1.07%	1.31%	0.05%	-1.91%	-5.47%	-1.21%	-0.08%	-3.82%	0.19%	-7.81%	-3.42%	3.85%	2.11%	-1.28%	11.19%	28.93%	37.39%	35.84%	41.55%	42.77%	28.91%	30.66%	30.07%	30.25%	28.48%	30.95%	42.44%
Total Equity	2,793,000,000	2,662,600,000	1,866,700,000	1,297,066,667	997,850,000	967,600,000	1,327,663,333	3,228,000,000	2,864,000,000	2,287,000,000	2,330,000,000	2,604,000,000	2,092,000,000	1,286,000,000	923,000,000	668,000,000	385,000,000	387,000,000	289,000,000	123,000,000	-239,000,000	229,000,000	383,000,000	36,000,000	338,000,000	-266,000,000	10,000,000	478,000,000	337,000,000	109,000,000	1,005,000,000	2,304,000,000	3,186,000,000	3,255,000,000	3,812,000,000	3,807,100,000	1,579,800,000	1,440,600,000	1,305,500,000	1,189,200,000	1,098,600,000	952,000,000	811,500,000
Total Equity Margin	22.96%	23.41%	17.35%	12.18%	9.43%	9.90%	14.99%	27.35%	23.85%	17.67%	20.45%	27.73%	21.89%	11.53%	10.61%	8.06%	4.39%	4.25%	3.34%	1.45%	-2.76%	2.88%	4.82%	0.43%	4.37%	-3.81%	0.14%	6.64%	5.08%	1.60%	13.98%	31.61%	41.21%	39.22%	44.88%	45.69%	31.26%	32.36%	31.36%	31.45%	28.85%	30.99%	42.49%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities & Equity Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	203,000,000	171,600,000	101,500,000	75,666,667	68,000,000	66,240,000	55,200,000	160,000,000	200,000,000	249,000,000	213,000,000	36,000,000	80,000,000	46,000,000	22,000,000	4,000,000	5,000,000	5,000,000	20,000,000	31,000,000	25,000,000	39,000,000	41,000,000	22,000,000	37,000,000	79,000,000	46,000,000	102,000,000	83,000,000	111,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Investments Margin	1.65%	1.44%	0.88%	0.68%	0.66%	0.70%	0.59%	1.36%	1.67%	1.92%	1.87%	0.38%	0.84%	0.41%	0.25%	0.05%	0.06%	0.05%	0.23%	0.37%	0.29%	0.49%	0.52%	0.26%	0.48%	1.13%	0.67%	1.42%	1.25%	1.63%	0.00%	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	6,093,000,000	6,259,000,000	6,092,300,000	5,164,000,000	4,588,150,000	4,488,560,000	4,474,966,667	5,406,000,000	6,300,000,000	6,573,000,000	5,872,000,000	7,144,000,000	7,518,000,000	8,040,000,000	4,917,000,000	4,352,000,000	4,801,000,000	4,294,000,000	3,153,000,000	3,315,000,000	3,190,000,000	2,585,000,000	2,339,000,000	2,741,000,000	2,980,000,000	3,134,000,000	3,109,000,000	3,391,000,000	3,538,000,000	3,691,000,000	4,864,000,000	4,967,000,000	4,837,000,000	5,370,000,000	4,880,500,000	4,917,400,000	2,030,100,000	1,781,800,000	1,312,100,000	1,292,400,000	749,200,000	590,900,000	261,300,000
Net Debt Margin	49.68%	55.33%	59.13%	52.23%	48.72%	50.60%	51.63%	45.81%	52.46%	50.78%	51.54%	76.06%	78.65%	72.10%	56.53%	52.54%	54.79%	47.20%	36.43%	39.14%	36.90%	32.55%	29.47%	33.00%	38.57%	44.89%	45.01%	47.10%	53.36%	54.34%	67.68%	68.14%	62.56%	64.70%	57.45%	59.02%	40.17%	40.02%	31.52%	34.18%	19.68%	19.23%	13.68%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,251,333,333	11,508,000,000	10,399,400,000	9,786,800,000	9,233,100,000	8,790,360,000	8,589,043,333	11,801,000,000	12,010,000,000	12,943,000,000	11,394,000,000	9,392,000,000	9,559,000,000	11,151,000,000	8,698,000,000	8,284,000,000	8,762,000,000	9,097,000,000	8,656,000,000	8,470,000,000	8,644,000,000	7,941,000,000	7,938,000,000	8,305,000,000	7,727,000,000	6,982,000,000	6,908,000,000	7,199,000,000	6,630,000,000	6,792,000,000	7,187,000,000	7,289,000,000	7,732,000,000	8,300,000,000	8,494,600,000	8,331,900,000	5,053,800,000	4,452,200,000	4,162,600,000	3,780,700,000	3,807,400,000	3,072,100,000	1,909,800,000
Working Capital	701,666,667	617,600,000	326,700,000	336,466,667	295,400,000	263,160,000	120,706,667	746,000,000	632,000,000	727,000,000	362,000,000	621,000,000	103,000,000	166,000,000	-176,000,000	-55,000,000	141,000,000	698,000,000	260,000,000	232,000,000	318,000,000	272,000,000	317,000,000	385,000,000	151,000,000	106,000,000	-98,000,000	263,000,000	86,000,000	-246,000,000	-84,000,000	652,000,000	-573,000,000	-1,542,000,000	-902,100,000	-370,600,000	429,900,000	122,600,000	43,800,000	166,500,000	387,500,000	246,500,000	61,000,000
Working Capital Margin	5.73%	5.40%	2.85%	3.27%	2.98%	2.75%	1.21%	6.32%	5.26%	5.62%	3.18%	6.61%	1.08%	1.49%	-2.02%	-0.66%	1.61%	7.67%	3.00%	2.74%	3.68%	3.43%	3.99%	4.64%	1.95%	1.52%	-1.42%	3.65%	1.30%	-3.62%	-1.17%	8.94%	-7.41%	-18.58%	-10.62%	-4.45%	8.51%	2.75%	1.05%	4.40%	10.18%	8.02%	3.19%
Total Capital	9,449,666,667	9,460,800,000	8,365,400,000	6,826,133,333	5,890,950,000	5,743,840,000	6,034,526,667	9,178,000,000	10,110,000,000	9,061,000,000	8,376,000,000	10,579,000,000	9,888,000,000	9,629,000,000	5,944,000,000	5,277,000,000	5,612,000,000	5,378,000,000	3,846,000,000	3,503,000,000	3,059,000,000	2,952,000,000	2,792,000,000	3,020,000,000	3,452,000,000	2,996,000,000	3,167,000,000	4,149,000,000	4,079,000,000	3,967,000,000	6,124,000,000	7,458,000,000	7,995,000,000	8,629,000,000	8,615,300,000	8,641,100,000	3,559,400,000	3,190,500,000	2,618,100,000	2,462,900,000	1,853,800,000	1,563,500,000	1,086,300,000
Total Capital Margin	77.32%	83.62%	80.40%	68.10%	61.32%	63.66%	69.15%	77.77%	84.18%	70.01%	73.51%	112.64%	103.44%	86.35%	68.34%	63.70%	64.05%	59.12%	44.43%	41.36%	35.39%	37.17%	35.17%	36.36%	44.67%	42.91%	45.85%	57.63%	61.52%	58.41%	85.21%	102.32%	103.40%	103.96%	101.42%	103.71%	70.43%	71.66%	62.90%	65.14%	48.69%	50.89%	56.88%
Capital Employed	10,528,333,333	10,743,800,000	9,793,200,000	8,260,066,667	7,328,000,000	7,183,560,000	7,214,526,667	10,383,000,000	10,833,000,000	10,369,000,000	9,725,000,000	12,409,000,000	11,606,000,000	11,349,000,000	7,413,000,000	6,703,000,000	7,142,000,000	6,782,000,000	5,110,000,000	4,972,000,000	4,583,000,000	4,522,000,000	4,607,000,000	4,152,000,000	4,896,000,000	4,402,000,000	4,602,000,000	6,045,000,000	5,737,000,000	5,235,000,000	7,114,000,000	8,898,000,000	8,131,000,000	7,759,000,000	8,256,400,000	8,927,700,000	3,772,700,000	3,298,300,000	2,936,200,000	2,689,700,000	2,221,100,000	1,860,200,000	1,060,600,000
Capital Employed Margin	86.10%	95.15%	94.66%	83.26%	77.50%	80.74%	83.21%	87.98%	90.20%	80.11%	85.35%	132.12%	121.41%	101.78%	85.23%	80.92%	81.51%	74.55%	59.03%	58.70%	53.02%	56.94%	58.04%	49.99%	63.36%	63.05%	66.62%	83.97%	86.53%	77.08%	98.98%	122.07%	105.16%	93.48%	97.20%	107.15%	74.65%	74.08%	70.54%	71.14%	58.34%	60.55%	55.53%
Invested Capital	8,431,333,333	8,484,000,000	7,575,900,000	6,112,533,333	5,245,100,000	5,143,840,000	5,501,690,000	8,162,000,000	8,710,000,000	8,422,000,000	7,784,000,000	9,342,000,000	9,231,000,000	8,977,000,000	5,518,000,000	4,718,000,000	4,895,000,000	4,413,000,000	3,157,000,000	3,153,000,000	2,717,000,000	2,489,000,000	2,333,000,000	2,424,000,000	2,995,000,000	2,589,000,000	2,873,000,000	3,668,000,000	3,678,000,000	3,604,000,000	5,668,000,000	7,076,000,000	7,728,000,000	8,345,000,000	8,409,700,000	8,480,700,000	3,491,300,000	3,147,000,000	2,563,900,000	2,436,000,000	1,833,600,000	1,541,700,000	1,071,900,000
Invested Capital Margin	68.92%	74.91%	72.79%	60.86%	54.44%	56.97%	63.16%	69.16%	72.52%	65.07%	68.32%	99.47%	96.57%	80.50%	63.44%	56.95%	55.87%	48.51%	36.47%	37.23%	31.43%	31.34%	29.39%	29.19%	38.76%	37.08%	41.59%	50.95%	55.48%	53.06%	78.86%	97.08%	99.95%	100.54%	99.00%	101.79%	69.08%	70.68%	61.59%	64.43%	48.16%	50.18%	56.13%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,251,333,333	11,508,000,000	10,399,400,000	9,786,800,000	9,233,100,000	8,790,360,000	8,589,043,333	11,801,000,000	12,010,000,000	12,943,000,000	11,394,000,000	9,392,000,000	9,559,000,000	11,151,000,000	8,698,000,000	8,284,000,000	8,762,000,000	9,097,000,000	8,656,000,000	8,470,000,000	8,644,000,000	7,941,000,000	7,938,000,000	8,305,000,000	7,727,000,000	6,982,000,000	6,908,000,000	7,199,000,000	6,630,000,000	6,792,000,000	7,187,000,000	7,289,000,000	7,732,000,000	8,300,000,000	8,494,600,000	8,331,900,000	5,053,800,000	4,452,200,000	4,162,600,000	3,780,700,000	3,807,400,000	3,072,100,000	1,909,800,000
Net Income	621,666,667	428,400,000	476,700,000	478,400,000	416,350,000	239,800,000	231,383,333	560,000,000	450,000,000	855,000,000	-411,000,000	688,000,000	625,000,000	528,000,000	428,000,000	583,000,000	461,000,000	475,000,000	428,000,000	658,000,000	396,000,000	452,000,000	450,000,000	226,000,000	528,000,000	309,000,000	-362,000,000	51,000,000	-32,000,000	-1,205,000,000	-972,000,000	-174,000,000	181,000,000	105,000,000	301,600,000	284,000,000	74,900,000	131,000,000	180,900,000	155,400,000	128,100,000	107,100,000	94,200,000
Net Income Margin	5.03%	3.76%	4.73%	5.03%	4.50%	2.26%	2.28%	4.75%	3.75%	6.61%	-3.61%	7.33%	6.54%	4.74%	4.92%	7.04%	5.26%	5.22%	4.94%	7.77%	4.58%	5.69%	5.67%	2.72%	6.83%	4.43%	-5.24%	0.71%	-0.48%	-17.74%	-13.52%	-2.39%	2.34%	1.27%	3.55%	3.41%	1.48%	2.94%	4.35%	4.11%	3.36%	3.49%	4.93%
Depreciation & Amortization	469,000,000	470,200,000	399,700,000	323,266,667	300,000,000	320,120,000	345,006,667	448,000,000	499,000,000	460,000,000	463,000,000	481,000,000	490,000,000	425,000,000	247,000,000	247,000,000	237,000,000	190,000,000	134,000,000	180,000,000	176,000,000	172,000,000	194,000,000	216,000,000	229,000,000	230,000,000	282,000,000	308,000,000	326,000,000	375,000,000	499,000,000	495,000,000	522,000,000	533,000,000	540,000,000	495,900,000	256,300,000	218,300,000	191,700,000	142,400,000	128,400,000	102,000,000	61,800,000
Depreciation & Amortization Margin	3.84%	4.14%	3.82%	3.21%	3.18%	3.68%	4.08%	3.80%	4.15%	3.55%	4.06%	5.12%	5.13%	3.81%	2.84%	2.98%	2.70%	2.09%	1.55%	2.13%	2.04%	2.17%	2.44%	2.60%	2.96%	3.29%	4.08%	4.28%	4.92%	5.52%	6.94%	6.79%	6.75%	6.42%	6.36%	5.95%	5.07%	4.90%	4.61%	3.77%	3.37%	3.32%	3.24%
Deferred Income Tax	-64,333,333	-81,600,000	-10,200,000	-5,066,667	-38,250,000	-11,400,000	3,180,000	-168,000,000	-53,000,000	28,000,000	-248,000,000	33,000,000	-35,000,000	35,000,000	247,000,000	16,000,000	43,000,000	-83,000,000	127,000,000	-138,000,000	68,000,000	52,000,000	-81,000,000	23,000,000	-486,000,000	-110,000,000	-35,000,000	12,000,000	6,000,000	-31,000,000	482,000,000	11,000,000	86,000,000	113,000,000	92,900,000	91,700,000	-3,200,000	-23,300,000	45,500,000	39,400,000	-12,500,000	-3,000,000	9,400,000
Deferred Income Tax Margin	-0.55%	-0.69%	0.00%	0.02%	-0.44%	-0.08%	0.08%	-1.42%	-0.44%	0.22%	-2.18%	0.35%	-0.37%	0.31%	2.84%	0.19%	0.49%	-0.91%	1.47%	-1.63%	0.79%	0.65%	-1.02%	0.28%	-6.29%	-1.58%	-0.51%	0.17%	0.09%	-0.46%	6.71%	0.15%	1.11%	1.36%	1.09%	1.10%	-0.06%	-0.52%	1.09%	1.04%	-0.33%	-0.10%	0.49%
Stock-Based Compensation	34,000,000	33,400,000	29,300,000	26,133,333	21,300,000	17,040,000	14,200,000	42,000,000	31,000,000	29,000,000	33,000,000	32,000,000	29,000,000	27,000,000	23,000,000	20,000,000	27,000,000	22,000,000	21,000,000	18,000,000	18,000,000	20,000,000	18,000,000	16,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.28%	0.29%	0.28%	0.27%	0.22%	0.18%	0.15%	0.36%	0.26%	0.22%	0.29%	0.34%	0.30%	0.24%	0.26%	0.24%	0.31%	0.24%	0.24%	0.21%	0.21%	0.25%	0.23%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-82,000,000	-163,400,000	-207,100,000	-141,066,667	-99,000,000	-71,880,000	-90,563,333	79,000,000	240,000,000	-565,000,000	-586,000,000	15,000,000	-23,000,000	-513,000,000	-966,000,000	95,000,000	153,000,000	121,000,000	150,000,000	-98,000,000	-55,000,000	-163,000,000	66,000,000	-95,000,000	118,000,000	-18,000,000	65,000,000	42,000,000	200,000,000	108,000,000	118,000,000	-285,000,000	-53,000,000	-284,000,000	-404,300,000	73,700,000	-252,300,000	-376,800,000	-65,800,000	-110,800,000	-91,200,000	60,100,000	-61,800,000
Change in Working Capital Margin	-0.57%	-1.34%	-1.97%	-1.37%	-0.93%	-0.63%	-0.96%	0.67%	2.00%	-4.37%	-5.14%	0.16%	-0.24%	-4.60%	-11.11%	1.15%	1.75%	1.33%	1.73%	-1.16%	-0.64%	-2.05%	0.83%	-1.14%	1.53%	-0.26%	0.94%	0.58%	3.02%	1.59%	1.64%	-3.91%	-0.69%	-3.42%	-4.76%	0.88%	-4.99%	-8.46%	-1.58%	-2.93%	-2.40%	1.96%	-3.24%
Accounts Receivable	64,000,000	-116,800,000	-209,700,000	-147,733,333	-116,300,000	-93,040,000	-77,533,333	65,000,000	98,000,000	29,000,000	-590,000,000	-186,000,000	60,000,000	-493,000,000	-1,143,000,000	29,000,000	34,000,000	45,000,000	-51,000,000	-113,000,000	0	0	0	-110,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	0.53%	-1.11%	-2.18%	-1.55%	-1.23%	-0.98%	-0.82%	0.55%	0.82%	0.22%	-5.18%	-1.98%	0.63%	-4.42%	-13.14%	0.35%	0.39%	0.49%	-0.59%	-1.33%	0.00%	0.00%	0.00%	-1.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	88,666,667	-69,000,000	-57,500,000	-59,933,333	-49,250,000	-24,560,000	-23,820,000	102,000,000	463,000,000	-299,000,000	-609,000,000	-2,000,000	61,000,000	-201,000,000	-65,000,000	-85,000,000	60,000,000	-62,000,000	-45,000,000	21,000,000	-119,000,000	-119,000,000	50,000,000	-23,000,000	-19,000,000	-66,000,000	-28,000,000	-37,000,000	37,000,000	20,000,000	377,000,000	-26,000,000	28,000,000	-24,000,000	-69,800,000	20,300,000	-55,100,000	-37,800,000	5,200,000	-108,400,000	26,800,000	28,500,000	7,700,000
Inventory Margin	0.80%	-0.59%	-0.52%	-0.60%	-0.51%	-0.20%	-0.22%	0.86%	3.86%	-2.31%	-5.34%	-0.02%	0.64%	-1.80%	-0.75%	-1.03%	0.68%	-0.68%	-0.52%	0.25%	-1.38%	-1.50%	0.63%	-0.28%	-0.25%	-0.95%	-0.41%	-0.51%	0.56%	0.29%	5.25%	-0.36%	0.36%	-0.29%	-0.82%	0.24%	-1.09%	-0.85%	0.12%	-2.87%	0.70%	0.93%	0.40%
Accounts Payable	-79,666,667	151,000,000	135,200,000	120,733,333	93,250,000	74,600,000	62,166,667	-90,000,000	0	-149,000,000	873,000,000	121,000,000	-87,000,000	209,000,000	253,000,000	163,000,000	59,000,000	219,000,000	246,000,000	-6,000,000	0	0	0	54,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	-0.64%	1.41%	1.36%	1.25%	0.97%	0.78%	0.65%	-0.76%	0.00%	-1.15%	7.66%	1.29%	-0.91%	1.87%	2.91%	1.97%	0.67%	2.41%	2.84%	-0.07%	0.00%	0.00%	0.00%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-155,000,000	-128,600,000	-73,300,000	-53,466,667	-26,200,000	-28,480,000	-51,043,333	2,000,000	-321,000,000	-146,000,000	-260,000,000	82,000,000	-57,000,000	-28,000,000	-11,000,000	-12,000,000	18,000,000	-81,000,000	36,000,000	-44,000,000	64,000,000	-44,000,000	16,000,000	-16,000,000	137,000,000	48,000,000	93,000,000	79,000,000	163,000,000	88,000,000	-259,000,000	-259,000,000	-81,000,000	-260,000,000	-334,500,000	53,400,000	-197,200,000	-339,000,000	-71,000,000	-2,400,000	-118,000,000	31,600,000	-69,500,000
Other Working Capital Margin	-1.26%	-1.04%	-0.61%	-0.46%	-0.15%	-0.22%	-0.56%	0.02%	-2.67%	-1.13%	-2.28%	0.87%	-0.60%	-0.25%	-0.13%	-0.14%	0.21%	-0.89%	0.42%	-0.52%	0.74%	-0.55%	0.20%	-0.19%	1.77%	0.69%	1.35%	1.10%	2.46%	1.30%	-3.60%	-3.55%	-1.05%	-3.13%	-3.94%	0.64%	-3.90%	-7.61%	-1.71%	-0.06%	-3.10%	1.03%	-3.64%
Other Non-Cash Items	171,000,000	446,600,000	215,300,000	146,600,000	113,950,000	150,480,000	129,990,000	231,000,000	286,000,000	-4,000,000	1,654,000,000	66,000,000	77,000,000	69,000,000	-230,000,000	-31,000,000	35,000,000	187,000,000	25,000,000	1,000,000	-224,000,000	57,000,000	109,000,000	36,000,000	124,000,000	-117,000,000	-72,000,000	-25,000,000	-66,000,000	1,168,000,000	183,000,000	223,000,000	91,000,000	205,000,000	-143,900,000	-21,200,000	6,800,000	-18,700,000	200,000	-12,400,000	21,900,000	-100,000	13,600,000
Other Non-Cash Items Margin	1.44%	3.91%	1.83%	1.25%	0.98%	1.64%	1.43%	1.96%	2.38%	-0.03%	14.52%	0.70%	0.81%	0.62%	-2.64%	-0.37%	0.40%	2.06%	0.29%	0.01%	-2.59%	0.72%	1.37%	0.43%	1.60%	-1.68%	-1.04%	-0.35%	-1.00%	17.20%	2.55%	3.06%	1.18%	2.47%	-1.69%	-0.25%	0.13%	-0.42%	0.00%	-0.33%	0.58%	0.00%	0.71%
Net Cash from Operating Activities	1,149,333,333	1,133,600,000	903,700,000	828,266,667	717,200,000	647,080,000	638,463,333	1,192,000,000	1,453,000,000	803,000,000	905,000,000	1,315,000,000	1,163,000,000	571,000,000	-251,000,000	930,000,000	956,000,000	912,000,000	885,000,000	621,000,000	379,000,000	590,000,000	756,000,000	422,000,000	509,000,000	355,000,000	-122,000,000	404,000,000	434,000,000	415,000,000	310,000,000	270,000,000	827,000,000	672,000,000	402,100,000	911,200,000	164,600,000	6,800,000	352,500,000	213,000,000	175,600,000	118,500,000	117,200,000
Net Cash from Operating Activities Margin	9.47%	10.07%	8.69%	8.42%	7.54%	7.08%	7.16%	10.10%	12.10%	6.20%	7.94%	14.00%	12.17%	5.12%	-2.89%	11.23%	10.91%	10.03%	10.22%	7.33%	4.38%	7.43%	9.52%	5.08%	6.59%	5.08%	-1.77%	5.61%	6.55%	6.11%	4.31%	3.70%	10.70%	8.10%	4.73%	10.94%	3.26%	0.15%	8.47%	5.63%	4.61%	3.86%	6.14%
Capital Expenditures (PPE)	-678,333,333	-687,600,000	-565,700,000	-487,000,000	-409,900,000	-360,640,000	-381,416,667	-403,000,000	-793,000,000	-839,000,000	-816,000,000	-587,000,000	-432,000,000	-462,000,000	-498,000,000	-473,000,000	-354,000,000	-328,000,000	-275,000,000	-324,000,000	-401,000,000	-320,000,000	-180,000,000	-174,000,000	-156,000,000	-191,000,000	-192,000,000	-138,000,000	-135,000,000	-115,000,000	-168,000,000	-262,000,000	-329,000,000	-518,000,000	-514,800,000	-631,200,000	-433,500,000	-439,800,000	-271,300,000	-150,600,000	-92,200,000	-128,000,000	-88,600,000
Capital Expenditures (PPE) Margin	-5.50%	-5.98%	-5.40%	-4.89%	-4.26%	-3.87%	-4.32%	-3.41%	-6.60%	-6.48%	-7.16%	-6.25%	-4.52%	-4.14%	-5.73%	-5.71%	-4.04%	-3.61%	-3.18%	-3.83%	-4.64%	-4.03%	-2.27%	-2.10%	-2.02%	-2.74%	-2.78%	-1.92%	-2.04%	-1.69%	-2.34%	-3.59%	-4.26%	-6.24%	-6.06%	-7.58%	-8.58%	-9.88%	-6.52%	-3.98%	-2.42%	-4.17%	-4.64%
Acquisitions (Net)	13,333,333	462,600,000	-275,500,000	-235,533,333	-177,050,000	-142,080,000	-118,400,000	0	-126,000,000	166,000,000	2,255,000,000	18,000,000	-11,000,000	-3,912,000,000	8,000,000	14,000,000	-1,167,000,000	-695,000,000	-16,000,000	-78,000,000	4,000,000	7,000,000	-22,000,000	0	7,000,000	7,000,000	0	0	0	0	0	-11,000,000	0	0	0	0	0	0	0	0	0	0	0
Acquisitions (Net) Margin	0.08%	4.04%	-2.80%	-2.44%	-1.84%	-1.48%	-1.23%	0.00%	-1.05%	1.28%	19.79%	0.19%	-0.12%	-35.08%	0.09%	0.17%	-13.32%	-7.64%	-0.18%	-0.92%	0.05%	0.09%	-0.28%	0.00%	0.09%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Purchases of Investments	0	-14,200,000	-7,100,000	-1,933,333	-1,450,000	-1,160,000	-966,667	0	0	0	-25,000,000	-46,000,000	0	0	0	0	0	0	39,000,000	3,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Purchases of Investments Margin	0.00%	-0.14%	-0.07%	-0.01%	-0.01%	-0.01%	-0.01%	0.00%	0.00%	0.00%	-0.22%	-0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.45%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	-91,666,667	-44,400,000	-19,900,000	-9,533,333	-7,150,000	-5,720,000	-4,766,667	-275,000,000	0	0	25,000,000	28,000,000	23,000,000	0	0	0	0	0	8,000,000	48,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Sales / Maturities of Investments Margin	-0.78%	-0.36%	-0.16%	-0.06%	-0.05%	-0.04%	-0.03%	-2.33%	0.00%	0.00%	0.22%	0.30%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.09%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	270,666,667	186,400,000	351,500,000	237,400,000	216,750,000	205,480,000	134,796,667	666,000,000	115,000,000	31,000,000	68,000,000	52,000,000	1,000,000	531,000,000	986,000,000	1,092,000,000	-27,000,000	2,000,000	-2,000,000	-11,000,000	25,000,000	32,000,000	2,000,000	-12,000,000	55,000,000	73,000,000	656,000,000	31,000,000	35,000,000	706,000,000	5,000,000	25,000,000	132,000,000	66,000,000	116,900,000	-1,403,500,000	-4,500,000	-59,500,000	34,700,000	-499,900,000	-202,100,000	-329,000,000	-331,200,000
Other Investing Activities Margin	2.28%	1.60%	3.70%	2.50%	2.43%	2.42%	1.58%	5.64%	0.96%	0.24%	0.60%	0.55%	0.01%	4.76%	11.34%	13.18%	-0.31%	0.02%	-0.02%	-0.13%	0.29%	0.40%	0.03%	-0.14%	0.71%	1.05%	9.50%	0.43%	0.53%	10.39%	0.07%	0.34%	1.71%	0.80%	1.38%	-16.84%	-0.09%	-1.34%	0.83%	-13.22%	-5.31%	-10.71%	-17.34%
Net Cash from Investing Activities	-486,000,000	-97,200,000	-619,700,000	-565,266,667	-430,300,000	-345,320,000	-405,086,667	-12,000,000	-804,000,000	-642,000,000	1,507,000,000	-535,000,000	-374,000,000	-3,843,000,000	496,000,000	-442,000,000	-1,548,000,000	-1,021,000,000	-246,000,000	-362,000,000	-372,000,000	-281,000,000	-200,000,000	-186,000,000	-94,000,000	-111,000,000	464,000,000	-107,000,000	-100,000,000	591,000,000	-163,000,000	-248,000,000	-197,000,000	-452,000,000	-397,900,000	-2,034,700,000	-438,000,000	-499,300,000	-236,600,000	-650,500,000	-294,300,000	-457,000,000	-419,800,000
Net Cash from Investing Activities Margin	-3.92%	-0.85%	-5.99%	-5.74%	-4.35%	-3.48%	-4.42%	-0.10%	-6.69%	-4.96%	13.23%	-5.70%	-3.91%	-34.46%	5.70%	-5.34%	-17.67%	-11.22%	-2.84%	-4.27%	-4.30%	-3.54%	-2.52%	-2.24%	-1.22%	-1.59%	6.72%	-1.49%	-1.51%	8.70%	-2.27%	-3.40%	-2.55%	-5.45%	-4.68%	-24.42%	-8.67%	-11.21%	-5.68%	-17.21%	-7.73%	-14.88%	-21.98%
Net Debt Issuance	91,000,000	-307,600,000	144,000,000	202,533,333	88,900,000	26,400,000	83,256,667	-1,056,000,000	386,000,000	943,000,000	-1,678,000,000	-133,000,000	-654,000,000	3,680,000,000	12,000,000	-588,000,000	528,000,000	671,000,000	79,000,000	72,000,000	487,000,000	289,000,000	-562,000,000	-52,000,000	-224,000,000	8,000,000	-430,000,000	-177,000,000	-157,000,000	-1,101,000,000	-72,000,000	389,000,000	-439,000,000	457,000,000	215,000,000	1,348,500,000	256,200,000	463,900,000	-30,200,000	498,400,000	121,100,000	360,800,000	246,700,000
Net Debt Issuance Margin	0.52%	-2.92%	1.06%	1.94%	0.62%	-0.17%	0.64%	-8.95%	3.21%	7.29%	-14.73%	-1.42%	-6.84%	33.00%	0.14%	-7.10%	6.03%	7.38%	0.91%	0.85%	5.63%	3.64%	-7.08%	-0.63%	-2.90%	0.11%	-6.22%	-2.46%	-2.37%	-16.21%	-1.00%	5.34%	-5.68%	5.51%	2.53%	16.18%	5.07%	10.42%	-0.73%	13.18%	3.18%	11.74%	12.92%
Long-Term Debt Issuance	115,333,333	-298,800,000	152,000,000	220,666,667	100,150,000	35,120,000	90,523,333	-1,113,000,000	784,000,000	675,000,000	-1,678,000,000	-162,000,000	-654,000,000	3,680,000,000	12,000,000	-552,000,000	528,000,000	671,000,000	79,000,000	72,000,000	679,000,000	289,000,000	-644,000,000	-67,000,000	-7,000,000	89,000,000	-678,000,000	-184,000,000	-157,000,000	-1,101,000,000	-72,000,000	389,000,000	-439,000,000	457,000,000	215,000,000	1,348,500,000	256,200,000	463,900,000	-30,200,000	498,400,000	121,100,000	360,800,000	246,700,000
Long-Term Debt Issuance Margin	0.77%	-2.83%	1.15%	2.14%	0.73%	-0.09%	0.71%	-9.43%	6.53%	5.22%	-14.73%	-1.72%	-6.84%	33.00%	0.14%	-6.66%	6.03%	7.38%	0.91%	0.85%	7.86%	3.64%	-8.11%	-0.81%	-0.09%	1.27%	-9.81%	-2.56%	-2.37%	-16.21%	-1.00%	5.34%	-5.68%	5.51%	2.53%	16.18%	5.07%	10.42%	-0.73%	13.18%	3.18%	11.74%	12.92%
Short-Term Debt Issuance	-24,333,333	-8,800,000	-8,000,000	400,000	2,650,000	1,160,000	966,667	57,000,000	-398,000,000	268,000,000	0	29,000,000	0	0	0	-36,000,000	0	0	0	0	-192,000,000	278,000,000	82,000,000	15,000,000	-217,000,000	-81,000,000	248,000,000	-24,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	-0.25%	-0.09%	-0.09%	0.03%	0.06%	0.04%	0.03%	0.48%	-3.31%	2.07%	0.00%	0.31%	0.00%	0.00%	0.00%	-0.43%	0.00%	0.00%	0.00%	0.00%	-2.22%	3.50%	1.03%	0.18%	-2.81%	-1.16%	3.59%	-0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	-317,000,000	-393,400,000	-231,900,000	-226,133,333	-182,050,000	-147,200,000	-138,170,000	-217,000,000	-12,000,000	-722,000,000	-950,000,000	-66,000,000	-3,000,000	-3,000,000	-339,000,000	2,000,000	-9,000,000	12,000,000	-300,000,000	-242,000,000	-301,000,000	-242,000,000	19,000,000	-25,000,000	-104,000,000	-117,000,000	-22,000,000	3,000,000	2,000,000	3,000,000	0	-47,000,000	-30,000,000	-461,000,000	-6,000,000	11,000,000	20,900,000	3,600,000	-56,500,000	-44,300,000	6,500,000	1,100,000	69,500,000
Net Stock Issuance Margin	-2.51%	-3.31%	-2.06%	-2.22%	-1.84%	-1.49%	-1.42%	-1.84%	-0.10%	-5.58%	-8.34%	-0.70%	-0.03%	-0.03%	-3.90%	0.02%	-0.10%	0.13%	-3.47%	-2.86%	-3.48%	-3.05%	0.24%	-0.30%	-1.35%	-1.68%	-0.32%	0.04%	0.03%	0.04%	0.00%	-0.64%	-0.39%	-5.55%	-0.07%	0.13%	0.41%	0.08%	-1.36%	-1.17%	0.17%	0.04%	3.64%
Common Stock Issuance	0	400,000	3,200,000	7,066,667	9,350,000	7,880,000	8,206,667	0	0	0	2,000,000	0	4,000,000	1,000,000	9,000,000	10,000,000	6,000,000	14,000,000	21,000,000	15,000,000	11,000,000	13,000,000	23,000,000	10,000,000	14,000,000	18,000,000	16,000,000	3,000,000	2,000,000	3,000,000	0	2,000,000	0	6,000,000	11,000,000	11,000,000	21,200,000	16,300,000	30,000,000	17,100,000	75,600,000	6,200,000	136,200,000
Common Stock Issuance Margin	0.00%	0.00%	0.04%	0.08%	0.12%	0.10%	0.11%	0.00%	0.00%	0.00%	0.02%	0.00%	0.04%	0.01%	0.10%	0.12%	0.07%	0.15%	0.24%	0.18%	0.13%	0.16%	0.29%	0.12%	0.18%	0.26%	0.23%	0.04%	0.03%	0.04%	0.00%	0.03%	0.00%	0.07%	0.13%	0.13%	0.42%	0.37%	0.72%	0.45%	1.99%	0.20%	7.13%
Common Stock Repurchased	-317,000,000	-393,400,000	-233,400,000	-230,666,667	-189,500,000	-153,560,000	-145,110,000	-217,000,000	-12,000,000	-722,000,000	-950,000,000	-66,000,000	-7,000,000	-4,000,000	-339,000,000	-8,000,000	-9,000,000	-2,000,000	-300,000,000	-257,000,000	-312,000,000	-255,000,000	-4,000,000	-35,000,000	-118,000,000	-135,000,000	-38,000,000	0	0	0	0	-49,000,000	-30,000,000	-467,000,000	-17,000,000	0	-300,000	-12,700,000	-86,500,000	-61,400,000	-69,100,000	-5,100,000	-66,700,000
Common Stock Repurchased Margin	-2.51%	-3.31%	-2.08%	-2.27%	-1.93%	-1.57%	-1.52%	-1.84%	-0.10%	-5.58%	-8.34%	-0.70%	-0.07%	-0.04%	-3.90%	-0.10%	-0.10%	-0.02%	-3.47%	-3.03%	-3.61%	-3.21%	-0.05%	-0.42%	-1.53%	-1.93%	-0.55%	0.00%	0.00%	0.00%	0.00%	-0.67%	-0.39%	-5.63%	-0.20%	0.00%	-0.01%	-0.29%	-2.08%	-1.62%	-1.81%	-0.17%	-3.49%
Preferred Stock Issuance	0	0	-1,500,000	-2,400,000	-1,800,000	-1,440,000	-1,200,000	0	0	0	0	0	0	0	-9,000,000	0	-6,000,000	0	-21,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	-0.02%	-0.03%	-0.02%	-0.02%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.10%	0.00%	-0.07%	0.00%	-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%	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	-113,333,333	-89,000,000	-44,500,000	-37,133,333	-39,600,000	-39,360,000	-52,790,000	-119,000,000	-115,000,000	-106,000,000	-105,000,000	0	0	0	0	0	0	0	0	0	0	-112,000,000	-87,000,000	-65,000,000	-38,000,000	0	-45,000,000	-41,000,000	-24,000,000	0	0	-127,000,000	-138,000,000	-143,000,000	-151,800,000	-145,400,000	-21,500,000	-9,000,000	0	0	0	0	0
Net Dividends Paid Margin	-0.93%	-0.74%	-0.37%	-0.34%	-0.41%	-0.43%	-0.61%	-1.01%	-0.96%	-0.82%	-0.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.41%	-1.10%	-0.78%	-0.49%	0.00%	-0.65%	-0.57%	-0.36%	0.00%	0.00%	-1.74%	-1.78%	-1.72%	-1.79%	-1.75%	-0.43%	-0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Dividends Paid	-113,333,333	-89,000,000	-44,500,000	-37,133,333	-39,600,000	-37,720,000	-51,423,333	-119,000,000	-115,000,000	-106,000,000	-105,000,000	0	0	0	0	0	0	0	0	0	0	-112,000,000	-87,000,000	-65,000,000	-38,000,000	0	-45,000,000	0	-24,000,000	0	0	-127,000,000	-138,000,000	-143,000,000	-151,800,000	-145,400,000	-21,500,000	-9,000,000	0	0	0	0	0
Common Dividends Paid Margin	-0.93%	-0.74%	-0.37%	-0.34%	-0.41%	-0.41%	-0.59%	-1.01%	-0.96%	-0.82%	-0.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.41%	-1.10%	-0.78%	-0.49%	0.00%	-0.65%	0.00%	-0.36%	0.00%	0.00%	-1.74%	-1.78%	-1.72%	-1.79%	-1.75%	-0.43%	-0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Dividends Paid Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	-139,000,000	-133,600,000	-117,900,000	-142,333,333	-111,000,000	-102,000,000	-85,043,333	-134,000,000	-143,000,000	-140,000,000	-211,000,000	-40,000,000	-129,000,000	-144,000,000	-73,000,000	-52,000,000	-113,000,000	-238,000,000	-85,000,000	-84,000,000	-315,000,000	-234,000,000	-71,000,000	65,000,000	-30,000,000	-49,000,000	0	-72,000,000	-149,000,000	-30,000,000	9,000,000	-88,000,000	-10,000,000	-5,000,000	10,000,000	3,700,000	0	0	0	0	0	0	0
Other Financing Activities Margin	-1.14%	-1.14%	-1.11%	-1.48%	-1.17%	-1.13%	-0.94%	-1.14%	-1.19%	-1.08%	-1.85%	-0.43%	-1.35%	-1.29%	-0.84%	-0.63%	-1.29%	-2.62%	-0.98%	-0.99%	-3.64%	-2.95%	-0.89%	0.78%	-0.39%	-0.70%	0.00%	-1.00%	-2.25%	-0.44%	0.13%	-1.21%	-0.13%	-0.06%	0.12%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Cash from Financing Activities	-478,333,333	-923,600,000	-248,100,000	-201,600,000	-242,650,000	-259,640,000	-189,213,333	-1,526,000,000	116,000,000	-25,000,000	-2,944,000,000	-239,000,000	-786,000,000	3,533,000,000	-400,000,000	-616,000,000	406,000,000	445,000,000	-306,000,000	-254,000,000	-129,000,000	-299,000,000	-701,000,000	-77,000,000	-396,000,000	-158,000,000	-497,000,000	-246,000,000	-328,000,000	-1,128,000,000	-63,000,000	127,000,000	-617,000,000	-152,000,000	67,200,000	1,217,800,000	298,600,000	476,500,000	-86,700,000	454,100,000	127,600,000	361,900,000	316,200,000
Net Cash from Financing Activities Margin	-4.05%	-8.11%	-2.45%	-2.09%	-2.79%	-3.19%	-2.28%	-12.93%	0.97%	-0.19%	-25.84%	-2.54%	-8.22%	31.68%	-4.60%	-7.44%	4.63%	4.89%	-3.54%	-3.00%	-1.49%	-3.77%	-8.83%	-0.93%	-5.12%	-2.26%	-7.19%	-3.42%	-4.95%	-16.61%	-0.88%	1.74%	-7.98%	-1.83%	0.79%	14.62%	5.91%	10.70%	-2.08%	12.01%	3.35%	11.78%	16.56%
Effect of FX on Cash	-44,000,000	-42,200,000	-32,500,000	-25,400,000	-17,850,000	-12,840,000	-12,326,667	-38,000,000	-4,000,000	-90,000,000	-113,000,000	34,000,000	1,000,000	-37,000,000	14,000,000	-30,000,000	-62,000,000	-60,000,000	6,000,000	3,000,000	1,000,000	-6,000,000	8,000,000	-20,000,000	31,000,000	27,000,000	-22,000,000	19,000,000	32,000,000	29,000,000	-10,000,000	-34,000,000	-30,000,000	10,000,000	-26,200,000	-2,000,000	-600,000	5,300,000	-1,900,000	-9,900,000	-10,500,000	-16,100,000	-17,200,000
Effect of FX on Cash Margin	-0.35%	-0.34%	-0.29%	-0.24%	-0.16%	-0.11%	-0.11%	-0.32%	-0.03%	-0.70%	-0.99%	0.36%	0.01%	-0.33%	0.16%	-0.36%	-0.71%	-0.66%	0.07%	0.04%	0.01%	-0.08%	0.10%	-0.24%	0.40%	0.39%	-0.32%	0.26%	0.48%	0.43%	-0.14%	-0.47%	-0.39%	0.12%	-0.31%	-0.02%	-0.01%	0.12%	-0.05%	-0.26%	-0.28%	-0.52%	-0.90%
Net Change in Cash	141,000,000	70,600,000	3,400,000	36,000,000	26,400,000	29,280,000	31,836,667	-384,000,000	761,000,000	46,000,000	-645,000,000	575,000,000	4,000,000	224,000,000	-141,000,000	-158,000,000	-248,000,000	276,000,000	339,000,000	8,000,000	-121,000,000	4,000,000	-137,000,000	139,000,000	50,000,000	113,000,000	-177,000,000	70,000,000	38,000,000	-93,000,000	74,000,000	115,000,000	-17,000,000	78,000,000	45,200,000	92,300,000	24,600,000	-10,700,000	27,300,000	6,700,000	-1,600,000	7,300,000	-3,600,000
Net Change in Cash Margin	1.15%	0.78%	-0.04%	0.35%	0.25%	0.31%	0.35%	-3.25%	6.34%	0.36%	-5.66%	6.12%	0.04%	2.01%	-1.62%	-1.91%	-2.83%	3.03%	3.92%	0.09%	-1.40%	0.05%	-1.73%	1.67%	0.65%	1.62%	-2.56%	0.97%	0.57%	-1.37%	1.03%	1.58%	-0.22%	0.94%	0.53%	1.11%	0.49%	-0.24%	0.66%	0.18%	-0.04%	0.24%	-0.19%
Cash at Beginning of Period	877,333,333	906,600,000	788,500,000	679,200,000	620,650,000	571,280,000	501,466,667	1,400,000,000	639,000,000	593,000,000	1,238,000,000	663,000,000	659,000,000	435,000,000	576,000,000	717,000,000	965,000,000	689,000,000	350,000,000	342,000,000	463,000,000	459,000,000	596,000,000	457,000,000	407,000,000	294,000,000	471,000,000	401,000,000	363,000,000	456,000,000	382,000,000	267,000,000	284,000,000	206,000,000	160,400,000	68,100,000	43,500,000	54,200,000	26,900,000	20,200,000	21,800,000	14,400,000	18,000,000
Cash at Beginning of Period Margin	7.26%	7.94%	7.68%	6.90%	6.64%	6.38%	5.64%	11.86%	5.32%	4.58%	10.87%	7.06%	6.89%	3.90%	6.62%	8.66%	11.01%	7.57%	4.04%	4.04%	5.36%	5.78%	7.51%	5.50%	5.27%	4.21%	6.82%	5.57%	5.48%	6.71%	5.32%	3.66%	3.67%	2.48%	1.89%	0.82%	0.86%	1.22%	0.65%	0.53%	0.57%	0.47%	0.94%
Cash at End of Period	1,018,333,333	977,200,000	791,900,000	715,200,000	647,050,000	600,560,000	533,303,333	1,016,000,000	1,400,000,000	639,000,000	593,000,000	1,238,000,000	663,000,000	659,000,000	435,000,000	559,000,000	717,000,000	965,000,000	689,000,000	350,000,000	342,000,000	463,000,000	459,000,000	596,000,000	457,000,000	407,000,000	294,000,000	471,000,000	401,000,000	363,000,000	456,000,000	382,000,000	267,000,000	284,000,000	205,600,000	160,400,000	68,100,000	43,500,000	54,200,000	26,900,000	20,200,000	21,700,000	14,400,000
Cash at End of Period Margin	8.40%	8.72%	7.64%	7.26%	6.89%	6.69%	6.00%	8.61%	11.66%	4.94%	5.20%	13.18%	6.94%	5.91%	5.00%	6.75%	8.18%	10.61%	7.96%	4.13%	3.96%	5.83%	5.78%	7.18%	5.91%	5.83%	4.26%	6.54%	6.05%	5.34%	6.34%	5.24%	3.45%	3.42%	2.42%	1.93%	1.35%	0.98%	1.30%	0.71%	0.53%	0.71%	0.75%
Operating Cash Flow	1,149,333,333	1,133,600,000	903,700,000	828,266,667	717,200,000	647,080,000	638,463,333	1,192,000,000	1,453,000,000	803,000,000	905,000,000	1,315,000,000	1,163,000,000	571,000,000	-251,000,000	930,000,000	956,000,000	912,000,000	885,000,000	621,000,000	379,000,000	590,000,000	756,000,000	422,000,000	509,000,000	355,000,000	-122,000,000	404,000,000	434,000,000	415,000,000	310,000,000	270,000,000	827,000,000	672,000,000	402,100,000	911,200,000	164,600,000	6,800,000	352,500,000	213,000,000	175,600,000	118,500,000	117,200,000
Operating Cash Flow Margin	9.47%	10.07%	8.69%	8.42%	7.54%	7.08%	7.16%	10.10%	12.10%	6.20%	7.94%	14.00%	12.17%	5.12%	-2.89%	11.23%	10.91%	10.03%	10.22%	7.33%	4.38%	7.43%	9.52%	5.08%	6.59%	5.08%	-1.77%	5.61%	6.55%	6.11%	4.31%	3.70%	10.70%	8.10%	4.73%	10.94%	3.26%	0.15%	8.47%	5.63%	4.61%	3.86%	6.14%
Capital Expenditure	-678,333,333	-687,600,000	-565,700,000	-487,000,000	-409,900,000	-360,640,000	-381,416,667	-403,000,000	-793,000,000	-839,000,000	-816,000,000	-587,000,000	-432,000,000	-462,000,000	-498,000,000	-473,000,000	-354,000,000	-328,000,000	-275,000,000	-324,000,000	-401,000,000	-320,000,000	-180,000,000	-174,000,000	-156,000,000	-191,000,000	-192,000,000	-138,000,000	-135,000,000	-115,000,000	-168,000,000	-262,000,000	-329,000,000	-518,000,000	-514,800,000	-631,200,000	-433,500,000	-439,800,000	-271,300,000	-150,600,000	-92,200,000	-128,000,000	-88,600,000
Capital Expenditure Margin	-5.50%	-5.98%	-5.40%	-4.89%	-4.26%	-3.87%	-4.32%	-3.41%	-6.60%	-6.48%	-7.16%	-6.25%	-4.52%	-4.14%	-5.73%	-5.71%	-4.04%	-3.61%	-3.18%	-3.83%	-4.64%	-4.03%	-2.27%	-2.10%	-2.02%	-2.74%	-2.78%	-1.92%	-2.04%	-1.69%	-2.34%	-3.59%	-4.26%	-6.24%	-6.06%	-7.58%	-8.58%	-9.88%	-6.52%	-3.98%	-2.42%	-4.17%	-4.64%
Free Cash Flow	471,000,000	446,000,000	338,000,000	341,266,667	307,300,000	286,440,000	257,046,667	789,000,000	660,000,000	-36,000,000	89,000,000	728,000,000	731,000,000	109,000,000	-749,000,000	457,000,000	602,000,000	584,000,000	610,000,000	297,000,000	-22,000,000	270,000,000	576,000,000	248,000,000	353,000,000	164,000,000	-314,000,000	266,000,000	299,000,000	300,000,000	142,000,000	8,000,000	498,000,000	154,000,000	-112,700,000	280,000,000	-268,900,000	-433,000,000	81,200,000	62,400,000	83,400,000	-9,500,000	28,600,000
Free Cash Flow Margin	3.97%	4.09%	3.28%	3.53%	3.28%	3.21%	2.84%	6.69%	5.50%	-0.28%	0.78%	7.75%	7.65%	0.98%	-8.61%	5.52%	6.87%	6.42%	7.05%	3.51%	-0.25%	3.40%	7.26%	2.99%	4.57%	2.35%	-4.55%	3.69%	4.51%	4.42%	1.98%	0.11%	6.44%	1.86%	-1.33%	3.36%	-5.32%	-9.73%	1.95%	1.65%	2.19%	-0.31%	1.50%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31	1994-12-31	1993-12-31	1992-12-31	1991-12-31	1990-12-31	1989-12-31
Revenue	12,251,333,333	11,508,000,000	10,399,400,000	9,786,800,000	9,233,100,000	8,790,360,000	8,589,043,333	11,801,000,000	12,010,000,000	12,943,000,000	11,394,000,000	9,392,000,000	9,559,000,000	11,151,000,000	8,698,000,000	8,284,000,000	8,762,000,000	9,097,000,000	8,656,000,000	8,470,000,000	8,644,000,000	7,941,000,000	7,938,000,000	8,305,000,000	7,727,000,000	6,982,000,000	6,908,000,000	7,199,000,000	6,630,000,000	6,792,000,000	7,187,000,000	7,289,000,000	7,732,000,000	8,300,000,000	8,494,600,000	8,331,900,000	5,053,800,000	4,452,200,000	4,162,600,000	3,780,700,000	3,807,400,000	3,072,100,000	1,909,800,000
EBITDA	1,821,333,333	1,438,200,000	1,419,800,000	1,298,800,000	1,155,650,000	1,091,720,000	1,101,910,000	1,898,000,000	1,820,000,000	1,746,000,000	279,000,000	1,448,000,000	1,475,000,000	1,586,000,000	1,378,000,000	1,318,000,000	1,250,000,000	1,174,000,000	1,051,000,000	1,075,000,000	995,000,000	989,000,000	797,000,000	960,000,000	748,000,000	753,000,000	373,000,000	830,000,000	687,000,000	856,000,000	814,000,000	993,000,000	1,324,000,000	1,394,000,000	1,373,000,000	1,172,500,000	500,800,000	502,700,000	562,000,000	471,200,000	403,800,000	332,000,000	205,500,000
EBITDA Margin	14.91%	12.52%	13.83%	13.33%	12.37%	12.28%	12.70%	16.08%	15.15%	13.49%	2.45%	15.42%	15.43%	14.22%	15.84%	15.91%	14.27%	12.91%	12.14%	12.69%	11.51%	12.45%	10.04%	11.56%	9.68%	10.78%	5.40%	11.53%	10.36%	12.60%	11.33%	13.62%	17.12%	16.80%	16.16%	14.07%	9.91%	11.29%	13.50%	12.46%	10.61%	10.81%	10.76%
(-) Tax Adjustment	451,105,445	341,855,350	381,868,523	320,565,947	171,680,380	234,075,982	262,240,303	467,475,101	499,431,397	386,409,836	-38,228,365	394,188,782	315,408,805	460,451,613	666,559,710	318,788,036	348,200,313	96,894,434	270,048,611	28,245,750	328,841,567	265,773,616	12,154,684	243,257,919	-1,488,557,214	-139,361,194	-2,375,796	511,729,323	1,035,952,381	159,503,106	959,357,143	-248,250,000	486,083,916	576,290,503	451,351,213	376,634,799	124,949,098	149,786,281	196,689,903	185,613,105	159,690,609	132,688,341	74,790,344
(-) Tax Adjustment Margin	3.70%	2.99%	3.79%	3.30%	1.57%	2.65%	3.06%	3.96%	4.16%	2.99%	-0.34%	4.20%	3.30%	4.13%	7.66%	3.85%	3.97%	1.07%	3.12%	0.33%	3.80%	3.35%	0.15%	2.93%	-19.26%	-2.00%	-0.03%	7.11%	15.63%	2.35%	13.35%	-3.41%	6.29%	6.94%	5.31%	4.52%	2.47%	3.36%	4.73%	4.91%	4.19%	4.32%	3.92%
(-) Change In Working Capital	-82,000,000	-163,400,000	-207,100,000	-141,066,667	-99,000,000	-71,880,000	-90,563,333	79,000,000	240,000,000	-565,000,000	-586,000,000	15,000,000	-23,000,000	-513,000,000	-966,000,000	95,000,000	153,000,000	121,000,000	150,000,000	-98,000,000	-55,000,000	-163,000,000	66,000,000	-95,000,000	118,000,000	-18,000,000	65,000,000	42,000,000	200,000,000	108,000,000	118,000,000	-285,000,000	-53,000,000	-284,000,000	-404,300,000	73,700,000	-252,300,000	-376,800,000	-65,800,000	-110,800,000	-91,200,000	60,100,000	-61,800,000
(-) Change In Working Capital Margin	-0.57%	-1.34%	-1.97%	-1.37%	-0.93%	-0.63%	-0.96%	0.67%	2.00%	-4.37%	-5.14%	0.16%	-0.24%	-4.60%	-11.11%	1.15%	1.75%	1.33%	1.73%	-1.16%	-0.64%	-2.05%	0.83%	-1.14%	1.53%	-0.26%	0.94%	0.58%	3.02%	1.59%	1.64%	-3.91%	-0.69%	-3.42%	-4.76%	0.88%	-4.99%	-8.46%	-1.58%	-2.93%	-2.40%	1.96%	-3.24%
(-) Capital Expenditure	-678,333,333	-687,600,000	-565,700,000	-487,000,000	-409,900,000	-360,640,000	-381,416,667	-403,000,000	-793,000,000	-839,000,000	-816,000,000	-587,000,000	-432,000,000	-462,000,000	-498,000,000	-473,000,000	-354,000,000	-328,000,000	-275,000,000	-324,000,000	-401,000,000	-320,000,000	-180,000,000	-174,000,000	-156,000,000	-191,000,000	-192,000,000	-138,000,000	-135,000,000	-115,000,000	-168,000,000	-262,000,000	-329,000,000	-518,000,000	-514,800,000	-631,200,000	-433,500,000	-439,800,000	-271,300,000	-150,600,000	-92,200,000	-128,000,000	-88,600,000
(-) Capital Expenditure Margin	-5.50%	-5.98%	-5.40%	-4.89%	-4.26%	-3.87%	-4.32%	-3.41%	-6.60%	-6.48%	-7.16%	-6.25%	-4.52%	-4.14%	-5.73%	-5.71%	-4.04%	-3.61%	-3.18%	-3.83%	-4.64%	-4.03%	-2.27%	-2.10%	-2.02%	-2.74%	-2.78%	-1.92%	-2.04%	-1.69%	-2.34%	-3.59%	-4.26%	-6.24%	-6.06%	-7.58%	-8.58%	-9.88%	-6.52%	-3.98%	-2.42%	-4.17%	-4.64%
Unlevered Free Cash Flow	773,894,555	572,144,650	679,331,477	632,300,720	673,069,620	568,884,018	548,816,364	948,524,899	287,568,603	1,085,590,164	87,228,365	451,811,218	750,591,195	1,176,548,387	1,179,440,290	431,211,964	394,799,687	628,105,566	355,951,389	820,754,250	320,158,433	566,226,384	538,845,316	637,742,081	1,962,557,214	719,361,194	118,375,796	138,270,677	-683,952,381	473,496,894	-431,357,143	1,264,250,000	561,916,084	583,709,497	811,148,787	90,965,201	194,650,902	289,913,719	159,810,097	245,786,895	243,109,391	11,211,659	103,909,656
Unlevered Free Cash Flow Margin	6.27%	4.88%	6.61%	6.51%	7.47%	6.38%	6.27%	8.04%	2.39%	8.39%	0.77%	4.81%	7.85%	10.55%	13.56%	5.21%	4.51%	6.90%	4.11%	9.69%	3.70%	7.13%	6.79%	7.68%	25.40%	10.30%	1.71%	1.92%	-10.32%	6.97%	-6.00%	17.34%	7.27%	7.03%	9.55%	1.09%	3.85%	6.51%	3.84%	6.50%	6.39%	0.36%	5.44%
(-) Net Interest Income After Taxes	-255,412,179	-249,780,084	-226,758,269	-211,199,885	-357,993,049	-396,318,463	-364,924,961	-278,869,448	-277,899,876	-209,467,213	-277,432,692	-205,231,190	-276,729,560	-257,612,903	-122,359,469	-175,127,438	-186,852,895	-225,696,737	-171,645,833	-213,245,750	-147,960,818	-141,866,450	-237,324,619	-217,262,443	-1,773,099,502	-327,080,597	-1,437,095,541	-169,105,263	155,428,571	-1,587,459,627	193,035,714	-1,340,000,000	-422,122,378	-187,122,905	-197,889,339	-134,261,950	-98,390,681	-70,695,070	-113,428,135	-40,850,078	-32,342,378	-25,994,563	0
(-) Net Interest Income After Taxes Margin	-2.10%	-2.18%	-2.18%	-2.15%	-4.31%	-5.01%	-4.63%	-2.36%	-2.31%	-1.62%	-2.43%	-2.19%	-2.89%	-2.31%	-1.41%	-2.11%	-2.13%	-2.48%	-1.98%	-2.52%	-1.71%	-1.79%	-2.99%	-2.62%	-22.95%	-4.68%	-20.80%	-2.35%	2.34%	-23.37%	2.69%	-18.38%	-5.46%	-2.25%	-2.33%	-1.61%	-1.95%	-1.59%	-2.72%	-1.08%	-0.85%	-0.85%	0.00%
Net Debt Issuance	91,000,000	-307,600,000	144,000,000	202,533,333	88,900,000	26,400,000	83,256,667	-1,056,000,000	386,000,000	943,000,000	-1,678,000,000	-133,000,000	-654,000,000	3,680,000,000	12,000,000	-588,000,000	528,000,000	671,000,000	79,000,000	72,000,000	487,000,000	289,000,000	-562,000,000	-52,000,000	-224,000,000	8,000,000	-430,000,000	-177,000,000	-157,000,000	-1,101,000,000	-72,000,000	389,000,000	-439,000,000	457,000,000	215,000,000	1,348,500,000	256,200,000	463,900,000	-30,200,000	498,400,000	121,100,000	360,800,000	246,700,000
Net Debt Issuance Margin	0.52%	-2.92%	1.06%	1.94%	0.62%	-0.17%	0.64%	-8.95%	3.21%	7.29%	-14.73%	-1.42%	-6.84%	33.00%	0.14%	-7.10%	6.03%	7.38%	0.91%	0.85%	5.63%	3.64%	-7.08%	-0.63%	-2.90%	0.11%	-6.22%	-2.46%	-2.37%	-16.21%	-1.00%	5.34%	-5.68%	5.51%	2.53%	16.18%	5.07%	10.42%	-0.73%	13.18%	3.18%	11.74%	12.92%
Levered Free Cash Flow	1,120,306,735	514,324,734	1,050,089,746	1,046,033,938	1,119,962,669	991,602,481	996,997,992	171,394,347	951,468,480	2,238,057,377	-1,313,338,942	524,042,408	373,320,755	5,114,161,290	1,313,799,759	18,339,402	1,109,652,582	1,524,802,303	606,597,222	1,106,000,000	955,119,250	997,092,834	214,169,935	803,004,525	3,511,656,716	1,054,441,791	1,125,471,338	130,375,940	-996,380,952	959,956,522	-696,392,857	2,993,250,000	545,038,462	1,227,832,402	1,224,038,126	1,573,727,151	549,241,583	824,508,789	243,038,232	785,036,973	396,551,770	398,006,222	350,609,656
Levered Free Cash Flow Margin	8.89%	4.14%	9.85%	10.59%	12.41%	11.22%	11.55%	1.45%	7.92%	17.29%	-11.53%	5.58%	3.91%	45.86%	15.10%	0.22%	12.66%	16.76%	7.01%	13.06%	11.05%	12.56%	2.70%	9.67%	45.45%	15.10%	16.29%	1.81%	-15.03%	14.13%	-9.69%	41.07%	7.05%	14.79%	14.41%	18.89%	10.87%	18.52%	5.84%	20.76%	10.42%	12.96%	18.36%