Motorola Solutions, Inc. (0K3H.L)

Analysis: Margins & Ratios Industry: Communication Equipment Sector: Technology Live Price: $400.38

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	9,969,000,000	9,098,400,000	7,883,500,000	7,535,466,667	13,804,400,000	16,960,680,000	19,107,866,667	11,313,000,000	10,656,000,000	10,817,000,000	9,978,000,000	9,112,000,000	8,171,000,000	7,414,000,000	7,887,000,000	7,343,000,000	6,380,000,000	6,038,000,000	5,695,000,000	5,881,000,000	6,227,000,000	6,269,000,000	8,203,000,000	7,617,000,000	18,147,000,000	30,146,000,000	36,622,000,000	42,879,000,000	35,262,000,000	29,663,000,000	23,155,000,000	27,279,000,000	30,486,000,000	37,346,000,000	33,075,000,000	31,340,000,000	29,794,000,000	27,973,000,000	27,037,000,000	22,245,000,000	16,963,000,000	13,303,000,000	11,341,000,000	10,885,000,000	9,620,000,000
Cost of Revenue	5,065,333,333	4,626,600,000	4,045,300,000	3,837,200,000	8,618,500,000	10,972,640,000	12,361,700,000	5,549,000,000	5,237,000,000	5,305,000,000	5,008,000,000	4,883,000,000	4,131,000,000	3,806,000,000	3,956,000,000	3,863,000,000	3,356,000,000	3,169,000,000	2,976,000,000	3,050,000,000	3,118,000,000	3,075,000,000	4,057,000,000	3,805,000,000	12,406,000,000	21,751,000,000	26,670,000,000	30,152,000,000	23,833,000,000	19,698,000,000	15,652,000,000	18,307,000,000	23,121,000,000	25,168,000,000	20,631,000,000	19,396,000,000	19,993,000,000	18,982,000,000	17,533,000,000	13,760,000,000	10,351,000,000	8,479,000,000	7,245,000,000	6,882,000,000	5,905,000,000
Cost of Revenue Margin	50.94%	50.94%	51.48%	51.01%	55.82%	58.43%	59.50%	49.05%	49.15%	49.04%	50.19%	53.59%	50.56%	51.34%	50.16%	52.61%	52.60%	52.48%	52.26%	51.86%	50.07%	49.05%	49.46%	49.95%	68.36%	72.15%	72.83%	70.32%	67.59%	66.41%	67.60%	67.11%	75.84%	67.39%	62.38%	61.89%	67.10%	67.86%	64.85%	61.86%	61.02%	63.74%	63.88%	63.22%	61.38%
Gross Profit	4,903,666,667	4,471,800,000	3,838,200,000	3,698,266,667	5,185,900,000	5,988,040,000	6,746,166,667	5,764,000,000	5,419,000,000	5,512,000,000	4,970,000,000	4,229,000,000	4,040,000,000	3,608,000,000	3,931,000,000	3,480,000,000	3,024,000,000	2,869,000,000	2,719,000,000	2,831,000,000	3,109,000,000	3,194,000,000	4,146,000,000	3,812,000,000	5,741,000,000	8,395,000,000	9,952,000,000	12,727,000,000	11,429,000,000	9,965,000,000	7,503,000,000	8,972,000,000	7,365,000,000	12,178,000,000	12,444,000,000	11,944,000,000	9,801,000,000	8,991,000,000	9,504,000,000	8,485,000,000	6,612,000,000	4,824,000,000	4,096,000,000	4,003,000,000	3,715,000,000
Gross Profit Margin	49.06%	49.06%	48.52%	48.99%	44.18%	41.57%	40.50%	50.95%	50.85%	50.96%	49.81%	46.41%	49.44%	48.66%	49.84%	47.39%	47.40%	47.52%	47.74%	48.14%	49.93%	50.95%	50.54%	50.05%	31.64%	27.85%	27.17%	29.68%	32.41%	33.59%	32.40%	32.89%	24.16%	32.61%	37.62%	38.11%	32.90%	32.14%	35.15%	38.14%	38.98%	36.26%	36.12%	36.78%	38.62%
R&D Expenses	851,333,333	794,800,000	703,900,000	756,200,000	1,509,250,000	1,956,320,000	1,852,866,667	947,000,000	890,000,000	917,000,000	858,000,000	779,000,000	734,000,000	686,000,000	687,000,000	637,000,000	568,000,000	553,000,000	620,000,000	681,000,000	761,000,000	790,000,000	1,035,000,000	1,037,000,000	2,598,000,000	4,109,000,000	4,429,000,000	4,106,000,000	3,600,000,000	3,316,000,000	2,979,000,000	3,716,000,000	4,275,000,000	4,437,000,000	3,560,000,000	3,118,000,000	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	8.54%	8.77%	9.02%	10.19%	10.63%	11.05%	9.90%	8.37%	8.35%	8.48%	8.60%	8.55%	8.98%	9.25%	8.71%	8.67%	8.90%	9.16%	10.89%	11.58%	12.22%	12.60%	12.62%	13.61%	14.32%	13.63%	12.09%	9.58%	10.21%	11.18%	12.87%	13.62%	14.02%	11.88%	10.76%	9.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	1,587,666,667	1,481,800,000	1,315,600,000	1,395,200,000	2,077,000,000	2,538,280,000	2,978,533,333	1,856,000,000	1,689,000,000	1,752,000,000	1,561,000,000	1,450,000,000	1,353,000,000	1,293,000,000	1,403,000,000	1,254,000,000	1,025,000,000	1,044,000,000	1,021,000,000	1,184,000,000	1,330,000,000	1,472,000,000	1,912,000,000	1,874,000,000	3,058,000,000	4,330,000,000	5,092,000,000	4,504,000,000	3,628,000,000	3,508,000,000	3,285,000,000	4,472,000,000	4,919,000,000	5,733,000,000	5,220,000,000	5,807,000,000	5,515,000,000	4,715,000,000	4,642,000,000	4,381,000,000	3,776,000,000	2,838,000,000	2,468,000,000	2,414,000,000	2,289,000,000
SG&A Expenses Margin	15.92%	16.35%	16.79%	18.72%	17.33%	16.82%	16.91%	16.41%	15.85%	16.20%	15.64%	15.91%	16.56%	17.44%	17.79%	17.08%	16.07%	17.29%	17.93%	20.13%	21.36%	23.48%	23.31%	24.60%	16.85%	14.36%	13.90%	10.50%	10.29%	11.83%	14.19%	16.39%	16.14%	15.35%	15.78%	18.53%	18.51%	16.86%	17.17%	19.69%	22.26%	21.33%	21.76%	22.18%	23.79%
Operating Expenses	2,689,333,333	2,533,200,000	2,252,700,000	2,476,600,000	4,006,600,000	5,142,840,000	5,746,933,333	2,894,000,000	2,807,000,000	2,824,000,000	2,676,000,000	2,568,000,000	2,373,000,000	2,225,000,000	2,350,000,000	2,225,000,000	1,740,000,000	1,821,000,000	1,725,000,000	3,837,000,000	2,162,000,000	2,274,000,000	3,288,000,000	3,061,000,000	6,233,000,000	10,786,000,000	10,505,000,000	8,635,000,000	6,824,000,000	6,973,000,000	6,230,000,000	10,785,000,000	13,168,000,000	11,283,000,000	11,090,000,000	11,289,000,000	7,854,000,000	7,031,000,000	6,573,000,000	5,906,000,000	4,946,000,000	3,867,000,000	3,354,000,000	3,204,000,000	2,939,000,000
Operating Expenses Margin	27.04%	28.03%	28.80%	33.63%	32.14%	32.25%	31.72%	25.58%	26.34%	26.11%	26.82%	28.18%	29.04%	30.01%	29.80%	30.30%	27.27%	30.16%	30.29%	65.24%	34.72%	36.27%	40.08%	40.19%	34.35%	35.78%	28.68%	20.14%	19.35%	23.51%	26.91%	39.54%	43.19%	30.21%	33.53%	36.02%	26.36%	25.13%	24.31%	26.55%	29.16%	29.07%	29.57%	29.44%	30.55%
Operating Income (EBIT)	2,214,333,333	1,938,600,000	1,585,500,000	1,221,666,667	1,179,300,000	845,200,000	999,233,333	2,870,000,000	2,612,000,000	2,688,000,000	2,294,000,000	1,661,000,000	1,667,000,000	1,383,000,000	1,581,000,000	1,255,000,000	1,284,000,000	1,048,000,000	994,000,000	-1,006,000,000	947,000,000	920,000,000	858,000,000	751,000,000	-492,000,000	-2,391,000,000	-553,000,000	4,092,000,000	4,605,000,000	2,992,000,000	1,273,000,000	-1,813,000,000	-5,803,000,000	895,000,000	1,354,000,000	655,000,000	1,947,000,000	1,960,000,000	2,931,000,000	2,579,000,000	1,666,000,000	957,000,000	742,000,000	799,000,000	776,000,000
Operating Income (EBIT) Margin	22.02%	21.02%	19.72%	15.35%	12.04%	9.32%	8.79%	25.37%	24.51%	24.85%	22.99%	18.23%	20.40%	18.65%	20.05%	17.09%	20.13%	17.36%	17.45%	-17.11%	15.21%	14.68%	10.46%	9.86%	-2.71%	-7.93%	-1.51%	9.54%	13.06%	10.09%	5.50%	-6.65%	-19.03%	2.40%	4.09%	2.09%	6.53%	7.01%	10.84%	11.59%	9.82%	7.19%	6.54%	7.34%	8.07%
Interest Income	38,333,333	27,000,000	21,700,000	29,666,667	39,800,000	31,840,000	26,533,333	69,000,000	61,000,000	68,000,000	33,000,000	14,000,000	7,000,000	13,000,000	17,000,000	18,000,000	14,000,000	20,000,000	13,000,000	21,000,000	19,000,000	42,000,000	58,000,000	88,000,000	79,000,000	272,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.37%	0.27%	0.26%	0.39%	0.36%	0.29%	0.24%	0.61%	0.57%	0.63%	0.33%	0.15%	0.09%	0.18%	0.22%	0.25%	0.22%	0.33%	0.23%	0.36%	0.31%	0.67%	0.71%	1.16%	0.44%	0.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	261,333,333	246,400,000	233,500,000	204,733,333	175,300,000	140,240,000	116,866,667	317,000,000	284,000,000	295,000,000	249,000,000	240,000,000	215,000,000	233,000,000	237,000,000	240,000,000	215,000,000	225,000,000	186,000,000	147,000,000	132,000,000	108,000,000	132,000,000	217,000,000	211,000,000	224,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	2.62%	2.73%	3.03%	2.74%	2.15%	1.72%	1.43%	2.80%	2.67%	2.73%	2.50%	2.63%	2.63%	3.14%	3.00%	3.27%	3.37%	3.73%	3.27%	2.50%	2.12%	1.72%	1.61%	2.85%	1.16%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-223,000,000	-219,400,000	-211,800,000	-175,066,667	-135,500,000	-108,400,000	-90,333,333	-248,000,000	-223,000,000	-227,000,000	-216,000,000	-226,000,000	-208,000,000	-220,000,000	-220,000,000	-222,000,000	-201,000,000	-205,000,000	-173,000,000	-126,000,000	-113,000,000	-66,000,000	-74,000,000	-129,000,000	-132,000,000	48,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-2.25%	-2.45%	-2.77%	-2.35%	-1.79%	-1.43%	-1.19%	-2.19%	-2.09%	-2.10%	-2.16%	-2.48%	-2.55%	-2.97%	-2.79%	-3.02%	-3.15%	-3.40%	-3.04%	-2.14%	-1.81%	-1.05%	-0.90%	-1.69%	-0.73%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	559,666,667	486,200,000	467,400,000	376,666,667	174,950,000	131,240,000	191,733,333	378,000,000	942,000,000	943,000,000	364,000,000	372,000,000	323,000,000	429,000,000	800,000,000	375,000,000	409,000,000	409,000,000	250,000,000	281,000,000	180,000,000	105,000,000	194,000,000	216,000,000	143,000,000	194,000,000	-163,000,000	-518,000,000	-1,807,000,000	-120,000,000	-103,000,000	1,633,000,000	-292,000,000	-1,336,000,000	71,000,000	1,935,000,000	131,000,000	185,000,000	149,000,000	142,000,000	141,000,000	157,000,000	129,000,000	133,000,000	130,000,000
Unusual Items Margin	5.48%	5.24%	5.90%	4.90%	3.41%	2.75%	2.56%	3.34%	8.84%	8.72%	3.65%	4.08%	3.95%	5.79%	10.14%	5.11%	6.41%	6.77%	4.39%	4.78%	2.89%	1.67%	2.36%	2.84%	0.79%	0.64%	-0.45%	-1.21%	-5.12%	-0.40%	-0.44%	5.99%	-0.96%	-3.58%	0.21%	6.17%	0.44%	0.66%	0.55%	0.64%	0.83%	1.18%	1.14%	1.22%	1.35%
EBT Excluding Unusual Items	1,318,000,000	1,185,600,000	862,500,000	643,400,000	964,900,000	691,120,000	706,100,000	2,362,000,000	951,000,000	1,029,000,000	1,782,000,000	1,143,000,000	1,229,000,000	745,000,000	201,000,000	727,000,000	667,000,000	435,000,000	667,000,000	-1,442,000,000	700,000,000	776,000,000	544,000,000	448,000,000	-646,000,000	-2,827,000,000	-227,000,000	5,128,000,000	8,219,000,000	3,232,000,000	1,479,000,000	-5,079,000,000	-5,219,000,000	3,567,000,000	1,212,000,000	-3,215,000,000	1,685,000,000	1,590,000,000	2,633,000,000	2,295,000,000	1,384,000,000	643,000,000	484,000,000	533,000,000	516,000,000
EBT Excluding Unusual Items Margin	13.31%	13.00%	10.68%	7.90%	7.01%	5.25%	4.86%	20.88%	8.92%	9.51%	17.86%	12.54%	15.04%	10.05%	2.55%	9.90%	10.45%	7.20%	11.71%	-24.52%	11.24%	12.38%	6.63%	5.88%	-3.56%	-9.38%	-0.62%	11.96%	23.31%	10.90%	6.39%	-18.62%	-17.12%	9.55%	3.66%	-10.26%	5.66%	5.68%	9.74%	10.32%	8.16%	4.83%	4.27%	4.90%	5.36%
Pre-Tax Income	1,877,666,667	1,671,800,000	1,329,900,000	1,020,066,667	1,139,850,000	822,360,000	897,833,333	2,740,000,000	1,893,000,000	1,972,000,000	2,146,000,000	1,515,000,000	1,552,000,000	1,174,000,000	1,001,000,000	1,102,000,000	1,076,000,000	844,000,000	917,000,000	-1,161,000,000	880,000,000	881,000,000	738,000,000	664,000,000	-503,000,000	-2,633,000,000	-390,000,000	4,610,000,000	6,412,000,000	3,112,000,000	1,376,000,000	-3,446,000,000	-5,511,000,000	2,231,000,000	1,283,000,000	-1,280,000,000	1,816,000,000	1,775,000,000	2,782,000,000	2,437,000,000	1,525,000,000	800,000,000	613,000,000	666,000,000	646,000,000
Pre-Tax Income Margin	18.79%	18.24%	16.58%	12.80%	10.42%	8.00%	7.42%	24.22%	17.76%	18.23%	21.51%	16.63%	18.99%	15.83%	12.69%	15.01%	16.87%	13.98%	16.10%	-19.74%	14.13%	14.05%	9.00%	8.72%	-2.77%	-8.73%	-1.06%	10.75%	18.18%	10.49%	5.94%	-12.63%	-18.08%	5.97%	3.88%	-4.08%	6.10%	6.35%	10.29%	10.96%	8.99%	6.01%	5.41%	6.12%	6.72%
Income Tax Expense	323,333,333	298,600,000	353,900,000	241,733,333	401,550,000	314,800,000	338,233,333	617,000,000	326,000,000	390,000,000	432,000,000	148,000,000	302,000,000	221,000,000	130,000,000	133,000,000	1,227,000,000	282,000,000	274,000,000	-465,000,000	-59,000,000	211,000,000	-3,000,000	403,000,000	-159,000,000	1,607,000,000	-285,000,000	1,349,000,000	1,893,000,000	1,013,000,000	448,000,000	-961,000,000	-1,574,000,000	913,000,000	392,000,000	-373,000,000	636,000,000	621,000,000	1,001,000,000	877,000,000	503,000,000	224,000,000	159,000,000	167,000,000	148,000,000
Income Tax Expense Margin	3.19%	3.25%	4.84%	3.21%	3.02%	2.38%	2.25%	5.45%	3.06%	3.61%	4.33%	1.62%	3.70%	2.98%	1.65%	1.81%	19.23%	4.67%	4.81%	-7.91%	-0.95%	3.37%	-0.04%	5.29%	-0.88%	5.33%	-0.78%	3.15%	5.37%	3.42%	1.93%	-3.52%	-5.16%	2.44%	1.19%	-1.19%	2.13%	2.22%	3.70%	3.94%	2.97%	1.68%	1.40%	1.53%	1.54%
Net Income	1,549,666,667	1,368,600,000	969,200,000	984,133,333	932,850,000	639,120,000	664,933,333	2,116,000,000	1,562,000,000	1,577,000,000	1,709,000,000	1,363,000,000	1,245,000,000	949,000,000	868,000,000	966,000,000	-155,000,000	560,000,000	610,000,000	1,299,000,000	1,099,000,000	881,000,000	1,158,000,000	633,000,000	-51,000,000	-4,244,000,000	-49,000,000	3,661,000,000	4,578,000,000	1,532,000,000	893,000,000	-2,485,000,000	-3,937,000,000	1,318,000,000	817,000,000	-962,000,000	1,180,000,000	1,154,000,000	1,781,000,000	1,560,000,000	1,022,000,000	453,000,000	454,000,000	499,000,000	498,000,000
Net Income Margin	15.55%	14.94%	11.64%	12.84%	9.98%	7.61%	6.81%	18.70%	14.66%	14.58%	17.13%	14.96%	15.24%	12.80%	11.01%	13.16%	-2.43%	9.27%	10.71%	22.09%	17.65%	14.05%	14.12%	8.31%	-0.28%	-14.08%	-0.13%	8.54%	12.98%	5.16%	3.86%	-9.11%	-12.91%	3.53%	2.47%	-3.07%	3.96%	4.13%	6.59%	7.01%	6.02%	3.41%	4.00%	4.58%	5.18%
Depreciation and Amortization	377,333,333	395,800,000	352,100,000	314,800,000	409,800,000	670,480,000	934,633,333	381,000,000	335,000,000	336,000,000	356,000,000	440,000,000	438,000,000	409,000,000	394,000,000	360,000,000	343,000,000	295,000,000	150,000,000	173,000,000	158,000,000	151,000,000	366,000,000	353,000,000	642,000,000	831,000,000	903,000,000	558,000,000	540,000,000	566,000,000	818,000,000	2,108,000,000	2,552,000,000	2,522,000,000	2,360,000,000	2,331,000,000	2,339,000,000	2,316,000,000	1,931,000,000	1,547,000,000	1,196,000,000	1,029,000,000	886,000,000	790,000,000	650,000,000
Depreciation and Amortization Margin	3.83%	4.48%	4.52%	4.14%	3.69%	4.08%	4.66%	3.37%	3.14%	3.11%	3.57%	4.83%	5.36%	5.52%	5.00%	4.90%	5.38%	4.89%	2.63%	2.94%	2.54%	2.41%	4.46%	4.63%	3.54%	2.76%	2.47%	1.30%	1.53%	1.91%	3.53%	7.73%	8.37%	6.75%	7.14%	7.44%	7.85%	8.28%	7.14%	6.95%	7.05%	7.74%	7.81%	7.26%	6.76%
EBITDA	2,516,333,333	2,314,000,000	1,915,500,000	1,539,600,000	1,620,000,000	1,710,280,000	2,101,900,000	3,438,000,000	2,534,000,000	2,603,000,000	2,751,000,000	2,195,000,000	2,205,000,000	1,816,000,000	1,632,000,000	1,702,000,000	1,634,000,000	1,364,000,000	1,253,000,000	-841,000,000	1,170,000,000	1,140,000,000	1,236,000,000	1,234,000,000	350,000,000	-1,578,000,000	736,000,000	4,650,000,000	5,148,000,000	3,532,000,000	2,146,000,000	2,059,000,000	-1,393,000,000	4,013,000,000	3,781,000,000	3,095,000,000	4,286,000,000	4,276,000,000	4,862,000,000	4,126,000,000	2,862,000,000	1,986,000,000	1,628,000,000	1,589,000,000	1,426,000,000
EBITDA Margin	25.24%	25.44%	24.13%	19.68%	15.97%	14.17%	14.11%	30.39%	23.78%	24.06%	27.57%	24.09%	26.99%	24.49%	20.69%	23.18%	25.61%	22.59%	22.00%	-14.30%	18.79%	18.18%	15.07%	16.20%	1.93%	-5.23%	2.01%	10.84%	14.60%	11.91%	9.27%	7.55%	-4.57%	10.75%	11.43%	9.88%	14.39%	15.29%	17.98%	18.55%	16.87%	14.93%	14.35%	14.60%	14.82%
NOPAT	1,829,113,919	1,590,524,182	1,164,647,235	927,348,591	785,731,157	546,678,107	649,572,457	2,223,726,277	2,162,178,553	2,156,397,566	1,832,206,897	1,498,737,294	1,342,622,423	1,122,656,729	1,375,675,325	1,103,534,483	-180,189,591	697,838,863	696,992,366	-603,080,103	1,010,492,045	699,659,478	861,487,805	295,197,289	-336,477,137	-3,850,300,038	-148,884,615	2,894,579,610	3,245,476,450	2,018,061,697	858,534,884	-1,307,401,335	-4,145,601,706	528,735,993	940,307,093	464,128,906	1,265,121,145	1,274,276,056	1,876,387,850	1,650,898,646	1,116,493,115	689,040,000	549,539,967	598,650,150	598,216,718
NOPAT Margin	18.25%	17.26%	13.98%	11.42%	8.61%	6.63%	6.19%	19.66%	20.29%	19.94%	18.36%	16.45%	16.43%	15.14%	17.44%	15.03%	-2.82%	11.56%	12.24%	-10.25%	16.23%	11.16%	10.50%	3.88%	-1.85%	-12.77%	-0.41%	6.75%	9.20%	6.80%	3.71%	-4.79%	-13.60%	1.42%	2.84%	1.48%	4.25%	4.56%	6.94%	7.42%	6.58%	5.18%	4.85%	5.50%	6.22%
Owner's Earnings	1,671,666,667	1,519,200,000	1,086,900,000	1,093,733,333	1,070,950,000	841,600,000	667,333,333	2,248,000,000	1,671,000,000	1,656,000,000	1,812,000,000	1,547,000,000	1,440,000,000	1,141,000,000	1,014,000,000	1,129,000,000	-39,000,000	584,000,000	585,000,000	1,291,000,000	1,136,000,000	902,000,000	1,338,000,000	870,000,000	425,000,000	-3,917,000,000	327,000,000	3,570,000,000	4,608,000,000	1,697,000,000	1,905,000,000	-984,000,000	-2,706,000,000	-291,000,000	326,000,000	-1,975,000,000	645,000,000	497,000,000	-513,000,000	-213,000,000	31,000,000	96,000,000	23,000,000	33,000,000	54,000,000
Owner's Earnings Margin	16.82%	16.69%	13.10%	14.22%	11.25%	9.03%	7.41%	19.87%	15.68%	15.31%	18.16%	16.98%	17.62%	15.39%	12.86%	15.38%	-0.61%	9.67%	10.27%	21.95%	18.24%	14.39%	16.31%	11.42%	2.34%	-12.99%	0.89%	8.33%	13.07%	5.72%	8.23%	-3.61%	-8.88%	-0.78%	0.99%	-6.30%	2.16%	1.78%	-1.90%	-0.96%	0.18%	0.72%	0.20%	0.30%	0.56%

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	9,969,000,000	9,098,400,000	7,883,500,000	7,535,466,667	13,804,400,000	16,960,680,000	19,107,866,667	10,817,000,000	9,978,000,000	9,112,000,000	8,171,000,000	7,414,000,000	7,887,000,000	7,343,000,000	6,380,000,000	6,038,000,000	5,695,000,000	5,881,000,000	6,227,000,000	6,269,000,000	8,203,000,000	7,617,000,000	18,147,000,000	30,146,000,000	36,622,000,000	42,879,000,000	35,262,000,000	29,663,000,000	23,155,000,000	27,279,000,000	30,486,000,000	37,346,000,000	33,075,000,000	31,340,000,000	29,794,000,000	27,973,000,000	27,037,000,000	22,245,000,000	16,963,000,000	13,303,000,000	11,341,000,000	10,885,000,000	9,620,000,000
Cash & Cash Equivalents	1,710,666,667	1,652,000,000	1,472,200,000	1,963,866,667	2,256,450,000	3,178,080,000	2,931,100,000	2,102,000,000	1,705,000,000	1,325,000,000	1,874,000,000	1,254,000,000	1,001,000,000	1,246,000,000	1,205,000,000	1,030,000,000	1,980,000,000	3,954,000,000	3,225,000,000	1,468,000,000	1,881,000,000	4,208,000,000	2,869,000,000	3,064,000,000	2,752,000,000	3,212,000,000	3,774,000,000	10,556,000,000	7,877,000,000	6,507,000,000	6,082,000,000	3,301,000,000	3,345,000,000	1,453,000,000	1,445,000,000	1,513,000,000	725,000,000	741,000,000	886,000,000	677,000,000	302,000,000	265,000,000	231,000,000
Cash & Cash Equivalents Margin	17.02%	18.18%	19.13%	27.46%	23.18%	23.43%	20.45%	19.43%	17.09%	14.54%	22.93%	16.91%	12.69%	16.97%	18.89%	17.06%	34.77%	67.23%	51.79%	23.42%	22.93%	55.24%	15.81%	10.16%	7.51%	7.49%	10.70%	35.59%	34.02%	23.85%	19.95%	8.84%	10.11%	4.64%	4.85%	5.41%	2.68%	3.33%	5.22%	5.09%	2.66%	2.43%	2.40%
Short-Term Investments	0	0	0	666,800,000	1,968,600,000	1,606,240,000	1,400,300,000	0	0	0	0	0	0	0	0	0	0	0	2,000,000	2,135,000,000	3,210,000,000	4,655,000,000	5,094,000,000	225,000,000	612,000,000	12,428,000,000	11,011,000,000	152,000,000	139,000,000	59,000,000	80,000,000	354,000,000	699,000,000	171,000,000	335,000,000	298,000,000	350,000,000	0	358,000,000	0	0	0	0
Short-Term Investments Margin	0.00%	0.00%	0.00%	8.96%	11.25%	9.10%	7.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	34.06%	39.13%	61.11%	28.07%	0.75%	1.67%	28.98%	31.23%	0.51%	0.60%	0.22%	0.26%	0.95%	2.11%	0.55%	1.12%	1.07%	1.29%	0.00%	2.11%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	1,710,666,667	1,652,000,000	1,472,200,000	2,630,666,667	4,225,050,000	4,784,320,000	4,331,400,000	2,102,000,000	1,705,000,000	1,325,000,000	1,874,000,000	1,254,000,000	1,001,000,000	1,246,000,000	1,205,000,000	1,030,000,000	1,980,000,000	3,954,000,000	3,227,000,000	3,603,000,000	5,091,000,000	8,863,000,000	7,963,000,000	3,289,000,000	3,364,000,000	15,640,000,000	14,785,000,000	10,708,000,000	8,016,000,000	6,566,000,000	6,162,000,000	3,655,000,000	4,044,000,000	1,624,000,000	1,780,000,000	1,811,000,000	1,075,000,000	741,000,000	1,244,000,000	677,000,000	302,000,000	265,000,000	231,000,000
Cash & Short-Term Investments Margin	17.02%	18.18%	19.13%	36.42%	34.43%	32.54%	28.24%	19.43%	17.09%	14.54%	22.93%	16.91%	12.69%	16.97%	18.89%	17.06%	34.77%	67.23%	51.82%	57.47%	62.06%	116.36%	43.88%	10.91%	9.19%	36.47%	41.93%	36.10%	34.62%	24.07%	20.21%	9.79%	12.23%	5.18%	5.97%	6.47%	3.98%	3.33%	7.33%	5.09%	2.66%	2.43%	2.40%
Net Receivables	2,828,666,667	2,660,000,000	2,375,700,000	2,310,133,333	3,060,500,000	3,450,000,000	3,663,233,333	3,182,000,000	2,812,000,000	2,492,000,000	2,491,000,000	2,323,000,000	2,458,000,000	2,305,000,000	2,072,000,000	1,886,000,000	1,736,000,000	1,826,000,000	1,774,000,000	1,774,000,000	2,253,000,000	3,268,000,000	2,845,000,000	3,493,000,000	5,324,000,000	7,509,000,000	7,387,000,000	4,492,000,000	4,436,000,000	4,437,000,000	4,583,000,000	7,092,000,000	5,627,000,000	5,057,000,000	4,847,000,000	4,035,000,000	4,081,000,000	3,739,000,000	2,476,000,000	2,289,000,000	1,953,000,000	1,857,000,000	1,683,000,000
Net Receivables Margin	28.32%	29.35%	30.35%	30.78%	27.10%	25.06%	23.52%	29.42%	28.18%	27.35%	30.49%	31.33%	31.17%	31.39%	32.48%	31.24%	30.48%	31.05%	28.49%	28.30%	27.47%	42.90%	15.68%	11.59%	14.54%	17.51%	20.95%	15.14%	19.16%	16.27%	15.03%	18.99%	17.01%	16.14%	16.27%	14.42%	15.09%	16.81%	14.60%	17.21%	17.22%	17.06%	17.49%
Inventory	882,666,667	788,800,000	564,300,000	593,266,667	1,069,300,000	1,503,640,000	1,853,400,000	766,000,000	827,000,000	1,055,000,000	788,000,000	508,000,000	447,000,000	356,000,000	327,000,000	273,000,000	296,000,000	345,000,000	522,000,000	513,000,000	512,000,000	1,364,000,000	1,308,000,000	2,659,000,000	2,836,000,000	3,162,000,000	2,522,000,000	2,546,000,000	2,792,000,000	2,869,000,000	2,756,000,000	5,242,000,000	3,422,000,000	3,745,000,000	4,096,000,000	3,220,000,000	3,528,000,000	2,670,000,000	1,864,000,000	1,321,000,000	1,242,000,000	1,245,000,000	1,173,000,000
Inventory Margin	8.98%	8.69%	6.88%	7.69%	7.68%	8.32%	8.95%	7.08%	8.29%	11.58%	9.64%	6.85%	5.67%	4.85%	5.13%	4.52%	5.20%	5.87%	8.38%	8.18%	6.24%	17.91%	7.21%	8.82%	7.74%	7.37%	7.15%	8.58%	12.06%	10.52%	9.04%	14.04%	10.35%	11.95%	13.75%	11.51%	13.05%	12.00%	10.99%	9.93%	10.95%	11.44%	12.19%
Other Current Assets	397,666,667	338,800,000	313,100,000	813,666,667	2,139,450,000	2,383,760,000	2,482,000,000	429,000,000	381,000,000	383,000,000	259,000,000	242,000,000	272,000,000	354,000,000	346,000,000	296,000,000	169,000,000	754,000,000	1,674,000,000	1,688,000,000	1,299,000,000	3,659,000,000	4,127,000,000	7,922,000,000	10,698,000,000	4,664,000,000	3,173,000,000	3,336,000,000	2,663,000,000	3,262,000,000	3,648,000,000	3,896,000,000	4,015,000,000	3,276,000,000	2,848,000,000	2,551,000,000	2,176,000,000	1,775,000,000	1,129,000,000	931,000,000	990,000,000	1,085,000,000	828,000,000
Other Current Assets Margin	4.00%	3.68%	4.00%	11.37%	13.43%	13.03%	12.50%	3.97%	3.82%	4.20%	3.17%	3.26%	3.45%	4.82%	5.42%	4.90%	2.97%	12.82%	26.88%	26.93%	15.84%	48.04%	22.74%	26.28%	29.21%	10.88%	9.00%	11.25%	11.50%	11.96%	11.97%	10.43%	12.14%	10.45%	9.56%	9.12%	8.05%	7.98%	6.66%	7.00%	8.73%	9.97%	8.61%
Total Current Assets	5,819,666,667	5,439,600,000	4,761,000,000	6,322,133,333	10,464,650,000	12,098,000,000	12,251,633,333	6,479,000,000	5,725,000,000	5,255,000,000	5,412,000,000	4,327,000,000	4,178,000,000	4,272,000,000	3,950,000,000	3,430,000,000	4,582,000,000	6,879,000,000	7,020,000,000	7,401,000,000	8,768,000,000	17,154,000,000	16,032,000,000	17,363,000,000	22,222,000,000	30,975,000,000	27,869,000,000	21,082,000,000	17,907,000,000	17,134,000,000	17,149,000,000	19,885,000,000	16,503,000,000	13,531,000,000	13,236,000,000	11,319,000,000	10,510,000,000	8,925,000,000	6,713,000,000	5,218,000,000	4,487,000,000	4,452,000,000	3,915,000,000
Total Current Assets Margin	58.31%	59.91%	60.99%	85.98%	82.38%	78.73%	72.84%	59.90%	57.38%	57.67%	66.23%	58.36%	52.97%	58.18%	61.91%	56.81%	80.46%	116.97%	112.73%	118.06%	106.89%	225.21%	88.35%	57.60%	60.68%	72.24%	79.03%	71.07%	77.34%	62.81%	56.25%	53.25%	49.90%	43.17%	44.43%	40.46%	38.87%	40.12%	39.57%	39.22%	39.56%	40.90%	40.70%
Property, Plant & Equipment	1,474,000,000	1,467,200,000	1,190,900,000	1,115,466,667	1,417,300,000	2,480,640,000	3,676,366,667	1,551,000,000	1,459,000,000	1,412,000,000	1,424,000,000	1,490,000,000	1,546,000,000	895,000,000	856,000,000	789,000,000	487,000,000	549,000,000	810,000,000	839,000,000	896,000,000	1,729,000,000	2,154,000,000	2,442,000,000	2,480,000,000	2,267,000,000	2,271,000,000	2,332,000,000	5,164,000,000	6,104,000,000	8,913,000,000	11,157,000,000	9,246,000,000	10,049,000,000	9,856,000,000	9,768,000,000	9,356,000,000	7,073,000,000	5,547,000,000	4,576,000,000	4,194,000,000	3,778,000,000	3,337,000,000
Property, Plant & Equipment Margin	14.82%	16.40%	14.88%	14.54%	12.83%	14.73%	17.70%	14.34%	14.62%	15.50%	17.43%	20.10%	19.60%	12.19%	13.42%	13.07%	8.55%	9.34%	13.01%	13.38%	10.92%	22.70%	11.87%	8.10%	6.77%	5.29%	6.44%	7.86%	22.30%	22.38%	29.24%	29.87%	27.95%	32.06%	33.08%	34.92%	34.60%	31.80%	32.70%	34.40%	36.98%	34.71%	34.69%
Goodwill	3,413,000,000	3,004,600,000	2,069,000,000	1,813,133,333	1,867,800,000	1,494,240,000	1,245,200,000	3,526,000,000	3,401,000,000	3,312,000,000	2,565,000,000	2,219,000,000	2,067,000,000	1,514,000,000	938,000,000	728,000,000	420,000,000	383,000,000	361,000,000	1,510,000,000	1,428,000,000	2,825,000,000	2,823,000,000	2,837,000,000	4,499,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	34.34%	32.87%	24.53%	22.41%	18.67%	14.94%	12.45%	32.60%	34.08%	36.35%	31.39%	29.93%	26.21%	20.62%	14.70%	12.06%	7.37%	6.51%	5.80%	24.09%	17.41%	37.09%	15.56%	9.41%	12.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	1,282,000,000	1,237,000,000	1,047,300,000	752,666,667	748,350,000	598,680,000	498,900,000	1,249,000,000	1,255,000,000	1,342,000,000	1,105,000,000	1,234,000,000	1,327,000,000	1,230,000,000	861,000,000	821,000,000	49,000,000	23,000,000	6,000,000	109,000,000	0	679,000,000	0	0	1,624,000,000	0	2,053,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Margin	12.95%	13.80%	13.05%	9.45%	7.60%	6.08%	5.06%	11.55%	12.58%	14.73%	13.52%	16.64%	16.83%	16.75%	13.50%	13.60%	0.86%	0.39%	0.10%	1.74%	0.00%	8.91%	0.00%	0.00%	4.43%	0.00%	5.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	141,666,667	158,400,000	187,300,000	208,666,667	377,900,000	565,360,000	471,133,333	135,000,000	143,000,000	147,000,000	209,000,000	158,000,000	159,000,000	169,000,000	247,000,000	238,000,000	268,000,000	316,000,000	251,000,000	144,000,000	166,000,000	380,000,000	525,000,000	517,000,000	837,000,000	895,000,000	1,654,000,000	3,241,000,000	3,335,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	1.43%	1.80%	2.58%	2.97%	2.91%	3.34%	2.78%	1.25%	1.43%	1.61%	2.56%	2.13%	2.02%	2.30%	3.87%	3.94%	4.71%	5.37%	4.03%	2.30%	2.02%	4.99%	2.89%	1.71%	2.29%	2.09%	4.69%	10.93%	14.40%	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%
Tax Assets	1,126,000,000	1,052,000,000	1,270,800,000	1,556,333,333	1,654,050,000	1,721,880,000	1,434,900,000	1,280,000,000	1,062,000,000	1,036,000,000	916,000,000	966,000,000	943,000,000	985,000,000	1,023,000,000	2,219,000,000	2,278,000,000	2,151,000,000	2,076,000,000	2,416,000,000	2,375,000,000	1,619,000,000	2,284,000,000	2,428,000,000	2,454,000,000	1,325,000,000	1,245,000,000	2,353,000,000	3,349,000,000	3,112,000,000	1,152,000,000	0	0	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	11.28%	11.62%	17.62%	22.33%	18.44%	16.26%	13.55%	11.83%	10.64%	11.37%	11.21%	13.03%	11.96%	13.41%	16.03%	36.75%	40.00%	36.58%	33.34%	38.54%	28.95%	21.26%	12.59%	8.05%	6.70%	3.09%	3.53%	7.93%	14.46%	11.41%	3.78%	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	325,333,333	403,200,000	448,800,000	444,933,333	801,000,000	1,964,280,000	2,531,433,333	375,000,000	291,000,000	310,000,000	558,000,000	482,000,000	422,000,000	344,000,000	333,000,000	1,021,000,000	352,000,000	145,000,000	185,000,000	369,000,000	296,000,000	1,191,000,000	1,785,000,000	2,282,000,000	696,000,000	4,026,000,000	557,000,000	5,122,000,000	5,678,000,000	4,802,000,000	6,184,000,000	11,301,000,000	11,578,000,000	5,148,000,000	4,186,000,000	2,989,000,000	2,935,000,000	1,538,000,000	1,238,000,000	835,000,000	694,000,000	512,000,000	434,000,000
Other Non-Current Assets Margin	3.26%	4.62%	6.15%	6.14%	6.12%	9.29%	10.64%	3.47%	2.92%	3.40%	6.83%	6.50%	5.35%	4.68%	5.22%	16.91%	6.18%	2.47%	2.97%	5.89%	3.61%	15.64%	9.84%	7.57%	1.90%	9.39%	1.58%	17.27%	24.52%	17.60%	20.28%	30.26%	35.01%	16.43%	14.05%	10.69%	10.86%	6.91%	7.30%	6.28%	6.12%	4.70%	4.51%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	7,762,000,000	7,322,400,000	6,127,100,000	5,900,533,333	6,828,650,000	8,531,840,000	9,613,566,667	8,116,000,000	7,611,000,000	7,559,000,000	6,777,000,000	6,549,000,000	6,464,000,000	5,137,000,000	4,258,000,000	4,995,000,000	3,805,000,000	3,544,000,000	4,831,000,000	5,278,000,000	5,161,000,000	8,423,000,000	9,571,000,000	10,506,000,000	12,590,000,000	7,618,000,000	7,780,000,000	9,807,000,000	14,191,000,000	14,018,000,000	16,249,000,000	22,458,000,000	20,824,000,000	15,197,000,000	14,042,000,000	12,757,000,000	12,291,000,000	8,611,000,000	6,785,000,000	5,411,000,000	4,888,000,000	4,290,000,000	3,771,000,000
Total Non-Current Assets Margin	78.09%	81.11%	77.37%	77.95%	66.55%	63.61%	61.33%	75.03%	76.28%	82.96%	82.94%	88.33%	81.96%	69.96%	66.74%	82.73%	66.81%	60.26%	77.58%	84.19%	62.92%	110.58%	52.74%	34.85%	34.38%	17.77%	22.06%	33.06%	61.29%	51.39%	53.30%	60.13%	62.96%	48.49%	47.13%	45.60%	45.46%	38.71%	40.00%	40.68%	43.10%	39.41%	39.20%
Total Assets	13,581,666,667	12,762,000,000	10,888,100,000	12,222,666,667	17,293,300,000	20,629,840,000	21,865,200,000	14,595,000,000	13,336,000,000	12,814,000,000	12,189,000,000	10,876,000,000	10,642,000,000	9,409,000,000	8,208,000,000	8,425,000,000	8,387,000,000	10,423,000,000	11,851,000,000	12,679,000,000	13,929,000,000	25,577,000,000	25,603,000,000	27,869,000,000	34,812,000,000	38,593,000,000	35,649,000,000	30,889,000,000	32,098,000,000	31,152,000,000	33,398,000,000	42,343,000,000	37,327,000,000	28,728,000,000	27,278,000,000	24,076,000,000	22,801,000,000	17,536,000,000	13,498,000,000	10,629,000,000	9,375,000,000	8,742,000,000	7,686,000,000
Total Assets Margin	136.40%	141.02%	138.36%	163.93%	148.93%	142.34%	134.17%	134.93%	133.65%	140.63%	149.17%	146.70%	134.93%	128.14%	128.65%	139.53%	147.27%	177.23%	190.32%	202.25%	169.80%	335.79%	141.09%	92.45%	95.06%	90.00%	101.10%	104.13%	138.62%	114.20%	109.55%	113.38%	112.86%	91.67%	91.56%	86.07%	84.33%	78.83%	79.57%	79.90%	82.66%	80.31%	79.90%
Accounts Payable	1,088,666,667	945,800,000	776,400,000	863,133,333	1,582,550,000	1,838,560,000	1,930,633,333	1,178,000,000	881,000,000	1,207,000,000	851,000,000	612,000,000	779,000,000	592,000,000	593,000,000	553,000,000	518,000,000	540,000,000	799,000,000	705,000,000	677,000,000	2,462,000,000	1,998,000,000	3,188,000,000	4,167,000,000	5,056,000,000	4,295,000,000	3,330,000,000	2,789,000,000	2,268,000,000	2,434,000,000	3,492,000,000	3,285,000,000	2,305,000,000	2,297,000,000	2,050,000,000	2,018,000,000	1,678,000,000	1,338,000,000	1,127,000,000	897,000,000	889,000,000	789,000,000
Accounts Payable Margin	10.99%	10.33%	9.71%	11.40%	11.39%	11.07%	10.55%	10.89%	8.83%	13.25%	10.41%	8.25%	9.88%	8.06%	9.29%	9.16%	9.10%	9.18%	12.83%	11.25%	8.25%	32.32%	11.01%	10.58%	11.38%	11.79%	12.18%	11.23%	12.04%	8.31%	7.98%	9.35%	9.93%	7.35%	7.71%	7.33%	7.46%	7.54%	7.89%	8.47%	7.91%	8.17%	8.20%
Short-Term Debt	545,333,333	330,600,000	176,000,000	185,466,667	294,150,000	655,440,000	868,933,333	322,000,000	1,313,000,000	1,000,000	5,000,000	12,000,000	16,000,000	31,000,000	52,000,000	4,000,000	4,000,000	4,000,000	4,000,000	4,000,000	405,000,000	605,000,000	536,000,000	92,000,000	332,000,000	1,693,000,000	448,000,000	717,000,000	896,000,000	1,629,000,000	870,000,000	6,391,000,000	2,504,000,000	2,909,000,000	1,282,000,000	1,382,000,000	1,605,000,000	916,000,000	555,000,000	437,000,000	852,000,000	995,000,000	787,000,000
Short-Term Debt Margin	5.38%	3.27%	1.79%	2.07%	2.02%	2.91%	3.49%	2.98%	13.16%	0.01%	0.06%	0.16%	0.20%	0.42%	0.82%	0.07%	0.07%	0.07%	0.06%	0.06%	4.94%	7.94%	2.95%	0.31%	0.91%	3.95%	1.27%	2.42%	3.87%	5.97%	2.85%	17.11%	7.57%	9.28%	4.30%	4.94%	5.94%	4.12%	3.27%	3.28%	7.51%	9.14%	8.18%
Tax Payables	271,666,667	229,000,000	161,700,000	154,466,667	115,850,000	92,680,000	77,233,333	217,000,000	231,000,000	367,000,000	183,000,000	147,000,000	95,000,000	111,000,000	107,000,000	111,000,000	48,000,000	91,000,000	95,000,000	95,000,000	126,000,000	293,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Payables Margin	2.78%	2.51%	1.96%	1.97%	1.48%	1.18%	0.99%	2.01%	2.32%	4.03%	2.24%	1.98%	1.20%	1.51%	1.68%	1.84%	0.84%	1.55%	1.53%	1.52%	1.54%	3.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	1,989,333,333	1,834,400,000	1,452,500,000	1,290,866,667	1,049,250,000	839,400,000	699,500,000	2,072,000,000	2,037,000,000	1,859,000,000	1,650,000,000	1,554,000,000	1,449,000,000	1,263,000,000	1,041,000,000	873,000,000	727,000,000	713,000,000	1,073,000,000	1,207,000,000	774,000,000	1,071,000,000	0	0	1,235,000,000	0	387,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	19.99%	20.23%	18.02%	16.82%	12.84%	10.27%	8.56%	19.16%	20.41%	20.40%	20.19%	20.96%	18.37%	17.20%	16.32%	14.46%	12.77%	12.12%	17.23%	19.25%	9.44%	14.06%	0.00%	0.00%	3.37%	0.00%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	573,666,667	671,600,000	713,400,000	875,933,333	2,282,900,000	2,033,400,000	1,694,500,000	503,000,000	439,000,000	779,000,000	890,000,000	747,000,000	347,000,000	701,000,000	821,000,000	1,061,000,000	846,000,000	672,000,000	1,524,000,000	1,382,000,000	1,488,000,000	939,000,000	4,349,000,000	6,637,000,000	7,229,000,000	7,899,000,000	6,405,000,000	5,177,000,000	0	0	0	0	0	0	0	0	0	0	0	1,771,000,000	1,314,000,000	1,164,000,000	1,175,000,000
Other Current Liabilities Margin	5.87%	7.71%	9.78%	12.41%	14.43%	12.24%	10.20%	4.65%	4.40%	8.55%	10.89%	10.08%	4.40%	9.55%	12.87%	17.57%	14.86%	11.43%	24.47%	22.04%	18.14%	12.33%	23.97%	22.02%	19.74%	18.42%	18.16%	17.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13.31%	11.59%	10.69%	12.21%
Total Current Liabilities	5,117,000,000	4,580,600,000	3,719,200,000	3,901,466,667	5,890,800,000	6,943,480,000	7,409,533,333	5,055,000,000	5,736,000,000	4,560,000,000	4,063,000,000	3,489,000,000	3,439,000,000	3,096,000,000	2,931,000,000	2,630,000,000	2,193,000,000	2,250,000,000	3,220,000,000	3,335,000,000	3,815,000,000	8,710,000,000	8,261,000,000	10,620,000,000	12,500,000,000	15,425,000,000	12,488,000,000	10,573,000,000	9,433,000,000	9,810,000,000	9,698,000,000	16,257,000,000	12,416,000,000	11,440,000,000	9,055,000,000	7,995,000,000	7,793,000,000	5,917,000,000	4,389,000,000	3,335,000,000	3,063,000,000	3,048,000,000	2,751,000,000
Total Current Liabilities Margin	51.42%	50.21%	46.48%	51.26%	47.76%	45.71%	43.49%	46.73%	57.49%	50.04%	49.72%	47.06%	43.60%	42.16%	45.94%	43.56%	38.51%	38.26%	51.71%	53.20%	46.51%	114.35%	45.52%	35.23%	34.13%	35.97%	35.41%	35.64%	40.74%	35.96%	31.81%	43.53%	37.54%	36.50%	30.39%	28.58%	28.82%	26.60%	25.87%	25.07%	27.01%	28.00%	28.60%
Long-Term Debt	5,464,333,333	5,448,800,000	5,080,200,000	4,122,533,333	3,989,800,000	4,436,120,000	4,088,300,000	5,675,000,000	4,705,000,000	6,013,000,000	5,688,000,000	5,163,000,000	5,113,000,000	5,289,000,000	4,419,000,000	4,392,000,000	4,345,000,000	3,396,000,000	2,457,000,000	1,859,000,000	1,130,000,000	2,194,000,000	3,365,000,000	4,092,000,000	3,991,000,000	2,704,000,000	3,806,000,000	4,578,000,000	6,675,000,000	7,189,000,000	8,372,000,000	4,293,000,000	3,089,000,000	2,633,000,000	2,144,000,000	1,931,000,000	1,949,000,000	1,127,000,000	1,360,000,000	1,258,000,000	954,000,000	792,000,000	755,000,000
Long-Term Debt Margin	55.20%	60.97%	66.00%	55.30%	44.48%	39.97%	34.61%	52.46%	47.15%	65.99%	69.61%	69.64%	64.83%	72.03%	69.26%	72.74%	76.29%	57.75%	39.46%	29.65%	13.78%	28.80%	18.54%	13.57%	10.90%	6.31%	10.79%	15.43%	28.83%	26.35%	27.46%	11.50%	9.34%	8.40%	7.20%	6.90%	7.21%	5.07%	8.02%	9.46%	8.41%	7.28%	7.85%
Capital Lease Obligations	541,000,000	467,600,000	283,500,000	189,000,000	141,750,000	113,400,000	94,500,000	554,000,000	532,000,000	537,000,000	313,000,000	402,000,000	497,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	5.45%	5.12%	3.19%	2.13%	1.60%	1.28%	1.06%	5.12%	5.33%	5.89%	3.83%	5.42%	6.30%	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%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	71,666,667	115,600,000	108,600,000	22,733,333	17,050,000	73,800,000	337,066,667	87,000,000	55,000,000	73,000,000	183,000,000	180,000,000	184,000,000	201,000,000	115,000,000	121,000,000	-113,000,000	-139,000,000	-302,000,000	-304,000,000	0	0	0	0	0	0	0	0	0	0	0	1,504,000,000	3,481,000,000	1,188,000,000	1,522,000,000	1,108,000,000	968,000,000	509,000,000	433,000,000	230,000,000	196,000,000	203,000,000	183,000,000
Deferred Tax Liabilities Margin	0.72%	1.36%	1.37%	0.11%	0.08%	0.23%	1.09%	0.80%	0.55%	0.80%	2.24%	2.43%	2.33%	2.74%	1.80%	2.00%	-1.98%	-2.36%	-4.85%	-4.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.03%	10.52%	3.79%	5.11%	3.96%	3.58%	2.29%	2.55%	1.73%	1.73%	1.86%	1.90%
Other Non-Current Liabilities	1,220,333,333	1,444,000,000	1,712,200,000	2,164,266,667	2,454,300,000	2,402,080,000	2,212,833,333	1,136,000,000	1,270,000,000	1,255,000,000	1,659,000,000	1,900,000,000	1,818,000,000	1,885,000,000	2,301,000,000	2,119,000,000	1,779,000,000	1,872,000,000	2,183,000,000	3,891,000,000	3,710,000,000	3,686,000,000	4,094,000,000	3,650,000,000	2,874,000,000	3,322,000,000	2,682,000,000	2,407,000,000	3,301,000,000	2,914,000,000	1,152,000,000	1,192,000,000	1,513,000,000	1,245,000,000	1,285,000,000	1,247,000,000	1,043,000,000	887,000,000	907,000,000	662,000,000	532,000,000	442,000,000	194,000,000
Other Non-Current Liabilities Margin	12.33%	16.59%	23.41%	30.44%	25.72%	22.18%	19.19%	10.50%	12.73%	13.77%	20.30%	25.63%	23.05%	25.67%	36.07%	35.09%	31.24%	31.83%	35.06%	62.07%	45.23%	48.39%	22.56%	12.11%	7.85%	7.75%	7.61%	8.11%	14.26%	10.68%	3.78%	3.19%	4.57%	3.97%	4.31%	4.46%	3.86%	3.99%	5.35%	4.98%	4.69%	4.06%	2.02%
Total Non-Current Liabilities	7,601,666,667	7,776,400,000	7,439,800,000	6,768,066,667	6,805,050,000	7,187,120,000	6,867,466,667	7,821,000,000	6,861,000,000	8,123,000,000	8,149,000,000	7,928,000,000	7,886,000,000	7,589,000,000	7,004,000,000	6,747,000,000	6,290,000,000	5,407,000,000	4,942,000,000	6,054,000,000	4,840,000,000	5,880,000,000	7,459,000,000	7,742,000,000	6,865,000,000	6,026,000,000	6,488,000,000	6,985,000,000	9,976,000,000	10,103,000,000	9,524,000,000	6,989,000,000	8,083,000,000	5,066,000,000	4,951,000,000	4,286,000,000	3,960,000,000	2,523,000,000	2,700,000,000	2,150,000,000	1,682,000,000	1,437,000,000	1,132,000,000
Total Non-Current Liabilities Margin	76.74%	87.37%	97.22%	91.75%	74.71%	65.91%	57.83%	72.30%	68.76%	89.15%	99.73%	106.93%	99.99%	103.35%	109.78%	111.74%	110.45%	91.94%	79.36%	96.57%	59.00%	77.20%	41.10%	25.68%	18.75%	14.05%	18.40%	23.55%	43.08%	37.04%	31.24%	18.71%	24.44%	16.16%	16.62%	15.32%	14.65%	11.34%	15.92%	16.16%	14.83%	13.20%	11.77%
Total Liabilities	12,718,666,667	12,357,000,000	11,159,000,000	10,669,533,333	12,695,850,000	14,130,600,000	14,277,000,000	12,876,000,000	12,597,000,000	12,683,000,000	12,212,000,000	11,417,000,000	11,325,000,000	10,685,000,000	9,935,000,000	9,377,000,000	8,483,000,000	7,657,000,000	8,162,000,000	9,389,000,000	8,655,000,000	14,590,000,000	15,720,000,000	18,362,000,000	19,365,000,000	21,451,000,000	18,976,000,000	17,558,000,000	19,409,000,000	19,913,000,000	19,222,000,000	23,246,000,000	20,499,000,000	16,506,000,000	14,006,000,000	12,281,000,000	11,753,000,000	8,440,000,000	7,089,000,000	5,485,000,000	4,745,000,000	4,485,000,000	3,883,000,000
Total Liabilities Margin	128.16%	137.58%	143.70%	143.01%	122.47%	111.63%	101.32%	119.03%	126.25%	139.19%	149.46%	153.99%	143.59%	145.51%	155.72%	155.30%	148.96%	130.20%	131.07%	149.77%	105.51%	191.55%	86.63%	60.91%	52.88%	50.03%	53.81%	59.19%	83.82%	73.00%	63.05%	62.24%	61.98%	52.67%	47.01%	43.90%	43.47%	37.94%	41.79%	41.23%	41.84%	41.20%	40.36%
Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	2,000,000	2,000,000	2,000,000	2,266,667	1,419,250,000	2,521,200,000	2,162,266,667	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000	3,000,000	3,000,000	3,000,000	3,000,000	23,000,000	6,831,000,000	6,792,000,000	7,197,000,000	7,508,000,000	7,343,000,000	7,017,000,000	6,947,000,000	6,764,000,000	6,574,000,000	1,838,000,000	0	0	0	0	1,764,000,000	836,000,000	0	0	0	0
Common Stock Margin	0.02%	0.02%	0.03%	0.03%	3.99%	8.01%	6.86%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.04%	0.03%	0.05%	0.05%	0.04%	0.04%	0.13%	22.66%	18.55%	16.78%	21.29%	24.75%	30.30%	25.47%	22.19%	17.60%	5.56%	0.00%	0.00%	0.00%	0.00%	7.93%	4.93%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	1,761,000,000	1,552,000,000	1,338,100,000	1,754,466,667	2,879,200,000	3,206,080,000	4,083,133,333	2,300,000,000	1,640,000,000	1,343,000,000	1,350,000,000	1,127,000,000	1,239,000,000	1,051,000,000	467,000,000	1,148,000,000	1,716,000,000	3,410,000,000	2,425,000,000	1,625,000,000	1,016,000,000	4,460,000,000	3,827,000,000	3,878,000,000	8,579,000,000	9,086,000,000	5,897,000,000	1,722,000,000	3,103,000,000	2,582,000,000	5,434,000,000	9,727,000,000	8,780,000,000	8,254,000,000	9,504,000,000	8,343,000,000	7,461,000,000	5,917,000,000	4,534,000,000	3,634,000,000	3,287,000,000	2,933,000,000	2,534,000,000
Retained Earnings Margin	17.48%	16.83%	17.06%	24.30%	22.99%	21.29%	22.48%	21.26%	16.44%	14.74%	16.52%	15.20%	15.71%	14.31%	7.32%	19.01%	30.13%	57.98%	38.94%	25.92%	12.39%	58.55%	21.09%	12.86%	23.43%	21.19%	16.72%	5.81%	13.40%	9.47%	17.82%	26.05%	26.55%	26.34%	31.90%	29.83%	27.60%	26.60%	26.73%	27.32%	28.98%	26.95%	26.34%
Accumulated OCI	-2,538,000,000	-2,487,800,000	-2,438,900,000	-2,461,933,333	-2,259,950,000	-1,786,440,000	-2,793,666,667	-2,539,000,000	-2,540,000,000	-2,535,000,000	-2,379,000,000	-2,446,000,000	-2,440,000,000	-2,765,000,000	-2,562,000,000	-2,317,000,000	-1,866,000,000	-1,855,000,000	-2,287,000,000	-3,300,000,000	-2,876,000,000	-2,222,000,000	-2,286,000,000	-2,205,000,000	-706,000,000	-1,650,000,000	-1,423,000,000	-55,000,000	207,000,000	-523,000,000	-214,000,000	1,123,000,000	3,154,000,000	-12,839,000,000	-11,524,000,000	-9,830,000,000	-8,110,000,000	-6,657,000,000	0	0	0	0	0
Accumulated OCI Margin	-25.58%	-27.77%	-31.87%	-33.59%	-26.68%	-21.30%	-22.26%	-23.47%	-25.46%	-27.82%	-29.12%	-32.99%	-30.94%	-37.65%	-40.16%	-38.37%	-32.77%	-31.54%	-36.73%	-52.64%	-35.06%	-29.17%	-12.60%	-7.31%	-1.93%	-3.85%	-4.04%	-0.19%	0.89%	-1.92%	-0.70%	3.01%	9.54%	-40.97%	-38.68%	-35.14%	-30.00%	-29.93%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	15,333,333	16,000,000	15,100,000	26,600,000	25,350,000	59,080,000	65,366,667	16,000,000	15,000,000	15,000,000	17,000,000	17,000,000	17,000,000	17,000,000	15,000,000	12,000,000	10,000,000	31,000,000	30,000,000	25,000,000	60,000,000	102,000,000	108,000,000	0	0	0	0	0	0	0	485,000,000	485,000,000	484,000,000	0	0	0	0	0	0	0	0	0	0
Minority Interest Margin	0.15%	0.18%	0.20%	0.36%	0.30%	0.36%	0.35%	0.15%	0.15%	0.16%	0.21%	0.23%	0.22%	0.23%	0.24%	0.20%	0.18%	0.53%	0.48%	0.40%	0.73%	1.34%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.59%	1.30%	1.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Shareholders’ Equity	847,666,667	389,000,000	-286,000,000	1,526,533,333	4,572,100,000	6,440,160,000	7,522,833,333	1,703,000,000	724,000,000	116,000,000	-40,000,000	-558,000,000	-700,000,000	-1,293,000,000	-1,742,000,000	-964,000,000	-106,000,000	2,735,000,000	3,659,000,000	3,265,000,000	5,214,000,000	10,885,000,000	9,775,000,000	9,507,000,000	15,447,000,000	17,142,000,000	16,673,000,000	13,331,000,000	12,689,000,000	11,239,000,000	13,691,000,000	18,612,000,000	16,344,000,000	12,222,000,000	13,272,000,000	11,795,000,000	11,048,000,000	9,096,000,000	6,409,000,000	5,144,000,000	4,630,000,000	4,257,000,000	3,803,000,000
Total Shareholders’ Equity Margin	8.09%	3.25%	-5.54%	20.56%	26.16%	30.36%	32.50%	15.74%	7.26%	1.27%	-0.49%	-7.53%	-8.88%	-17.61%	-27.30%	-15.97%	-1.86%	46.51%	58.76%	52.08%	63.56%	142.90%	53.87%	31.54%	42.18%	39.98%	47.28%	44.94%	54.80%	41.20%	44.91%	49.84%	49.41%	39.00%	44.55%	42.17%	40.86%	40.89%	37.78%	38.67%	40.83%	39.11%	39.53%
Total Equity	863,000,000	405,000,000	-270,900,000	1,553,133,333	4,597,450,000	6,499,240,000	7,588,200,000	1,719,000,000	739,000,000	131,000,000	-23,000,000	-541,000,000	-683,000,000	-1,276,000,000	-1,727,000,000	-952,000,000	-96,000,000	2,766,000,000	3,689,000,000	3,290,000,000	5,274,000,000	10,987,000,000	9,883,000,000	9,507,000,000	15,447,000,000	17,142,000,000	16,673,000,000	13,331,000,000	12,689,000,000	11,239,000,000	14,176,000,000	19,097,000,000	16,828,000,000	12,222,000,000	13,272,000,000	11,795,000,000	11,048,000,000	9,096,000,000	6,409,000,000	5,144,000,000	4,630,000,000	4,257,000,000	3,803,000,000
Total Equity Margin	8.25%	3.43%	-5.34%	20.93%	26.47%	30.72%	32.85%	15.89%	7.41%	1.44%	-0.28%	-7.30%	-8.66%	-17.38%	-27.07%	-15.77%	-1.69%	47.03%	59.24%	52.48%	64.29%	144.24%	54.46%	31.54%	42.18%	39.98%	47.28%	44.94%	54.80%	41.20%	46.50%	51.14%	50.88%	39.00%	44.55%	42.17%	40.86%	40.89%	37.78%	38.67%	40.83%	39.11%	39.53%
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	141,666,667	158,400,000	187,300,000	875,466,667	1,803,150,000	1,736,920,000	1,509,200,000	135,000,000	143,000,000	147,000,000	209,000,000	158,000,000	159,000,000	169,000,000	247,000,000	238,000,000	268,000,000	316,000,000	253,000,000	2,279,000,000	3,376,000,000	5,035,000,000	5,619,000,000	742,000,000	1,449,000,000	13,323,000,000	1,798,000,000	3,393,000,000	3,474,000,000	59,000,000	80,000,000	354,000,000	699,000,000	171,000,000	335,000,000	298,000,000	350,000,000	0	358,000,000	0	0	0	0
Total Investments Margin	1.43%	1.80%	2.58%	11.92%	12.62%	11.21%	9.55%	1.25%	1.43%	1.61%	2.56%	2.13%	2.02%	2.30%	3.87%	3.94%	4.71%	5.37%	4.06%	36.35%	41.16%	66.10%	30.96%	2.46%	3.96%	31.07%	5.10%	11.44%	15.00%	0.22%	0.26%	0.95%	2.11%	0.55%	1.12%	1.07%	1.29%	0.00%	2.11%	0.00%	0.00%	0.00%	0.00%
Net Debt	4,840,000,000	4,645,000,000	4,107,700,000	2,559,933,333	2,189,350,000	2,042,960,000	2,134,033,333	4,449,000,000	4,845,000,000	5,226,000,000	4,256,000,000	4,449,000,000	4,747,000,000	4,063,000,000	3,266,000,000	3,366,000,000	2,410,000,000	-554,000,000	-764,000,000	395,000,000	-346,000,000	-1,409,000,000	1,032,000,000	1,120,000,000	1,571,000,000	1,185,000,000	480,000,000	-5,261,000,000	-306,000,000	2,311,000,000	3,160,000,000	7,383,000,000	2,248,000,000	4,089,000,000	1,981,000,000	1,800,000,000	2,829,000,000	1,302,000,000	1,029,000,000	1,018,000,000	1,504,000,000	1,522,000,000	1,311,000,000
Net Debt Margin	49.01%	51.83%	52.39%	32.39%	25.18%	20.93%	18.89%	41.13%	48.56%	57.35%	52.09%	60.01%	60.19%	55.33%	51.19%	55.75%	42.32%	-9.42%	-12.27%	6.30%	-4.22%	-18.50%	5.69%	3.72%	4.29%	2.76%	1.36%	-17.74%	-1.32%	8.47%	10.37%	19.77%	6.80%	13.05%	6.65%	6.43%	10.46%	5.85%	6.07%	7.65%	13.26%	13.98%	13.63%

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	9,969,000,000	9,098,400,000	7,883,500,000	7,535,466,667	13,804,400,000	16,960,680,000	19,107,866,667	10,817,000,000	9,978,000,000	9,112,000,000	8,171,000,000	7,414,000,000	7,887,000,000	7,343,000,000	6,380,000,000	6,038,000,000	5,695,000,000	5,881,000,000	6,227,000,000	6,269,000,000	8,203,000,000	7,617,000,000	18,147,000,000	30,146,000,000	36,622,000,000	42,879,000,000	35,262,000,000	29,663,000,000	23,155,000,000	27,279,000,000	30,486,000,000	37,346,000,000	33,075,000,000	31,340,000,000	29,794,000,000	27,973,000,000	27,037,000,000	22,245,000,000	16,963,000,000	13,303,000,000	11,341,000,000	10,885,000,000	9,620,000,000
Working Capital	702,666,667	859,000,000	1,041,800,000	2,420,666,667	4,573,850,000	5,154,520,000	4,842,100,000	1,424,000,000	-11,000,000	695,000,000	1,349,000,000	838,000,000	739,000,000	1,176,000,000	1,019,000,000	800,000,000	2,389,000,000	4,629,000,000	3,800,000,000	4,066,000,000	4,953,000,000	8,444,000,000	7,771,000,000	6,743,000,000	9,722,000,000	15,550,000,000	15,381,000,000	10,509,000,000	8,474,000,000	7,324,000,000	7,451,000,000	3,628,000,000	4,087,000,000	2,091,000,000	4,181,000,000	3,324,000,000	2,717,000,000	3,008,000,000	2,324,000,000	1,883,000,000	1,424,000,000	1,404,000,000	1,164,000,000
Working Capital Margin	6.89%	9.70%	14.50%	34.73%	34.63%	33.02%	29.35%	13.16%	-0.11%	7.63%	16.51%	11.30%	9.37%	16.02%	15.97%	13.25%	41.95%	78.71%	61.02%	64.86%	60.38%	110.86%	42.82%	22.37%	26.55%	36.26%	43.62%	35.43%	36.60%	26.85%	24.44%	9.71%	12.36%	6.67%	14.03%	11.88%	10.05%	13.52%	13.70%	14.15%	12.56%	12.90%	12.10%
Total Capital	7,398,333,333	6,686,000,000	5,295,000,000	6,051,066,667	9,018,450,000	11,661,640,000	12,588,333,333	8,254,000,000	7,274,000,000	6,667,000,000	6,090,000,000	5,145,000,000	5,048,000,000	4,027,000,000	2,729,000,000	3,432,000,000	4,284,000,000	6,135,000,000	6,120,000,000	5,128,000,000	6,749,000,000	13,684,000,000	13,676,000,000	13,691,000,000	19,770,000,000	21,539,000,000	20,927,000,000	18,626,000,000	20,260,000,000	20,057,000,000	22,933,000,000	29,296,000,000	21,937,000,000	17,764,000,000	16,698,000,000	15,108,000,000	14,602,000,000	11,139,000,000	8,324,000,000	6,839,000,000	6,436,000,000	6,044,000,000	5,345,000,000
Total Capital Margin	74.12%	73.26%	66.00%	80.42%	74.53%	74.73%	71.84%	76.31%	72.90%	73.17%	74.53%	69.40%	64.00%	54.84%	42.77%	56.84%	75.22%	104.32%	98.28%	81.80%	82.27%	179.65%	75.36%	45.42%	53.98%	50.23%	59.35%	62.79%	87.50%	73.53%	75.22%	78.44%	66.33%	56.68%	56.04%	54.01%	54.01%	50.07%	49.07%	51.41%	56.75%	55.53%	55.56%
Capital Employed	8,464,666,667	8,181,400,000	7,168,900,000	8,321,200,000	11,402,500,000	13,686,360,000	14,455,666,667	9,540,000,000	7,600,000,000	8,254,000,000	8,126,000,000	7,387,000,000	7,203,000,000	6,313,000,000	5,277,000,000	5,795,000,000	6,194,000,000	8,173,000,000	8,631,000,000	9,344,000,000	10,114,000,000	16,867,000,000	17,342,000,000	17,249,000,000	22,312,000,000	23,168,000,000	23,161,000,000	20,316,000,000	22,665,000,000	21,342,000,000	23,700,000,000	26,086,000,000	24,911,000,000	17,288,000,000	18,223,000,000	16,081,000,000	15,008,000,000	11,619,000,000	9,109,000,000	7,294,000,000	6,312,000,000	5,694,000,000	4,935,000,000
Capital Employed Margin	84.98%	90.81%	91.88%	112.68%	101.18%	96.63%	90.68%	88.19%	76.17%	90.58%	99.45%	99.64%	91.33%	85.97%	82.71%	95.98%	108.76%	138.97%	138.61%	149.05%	123.30%	221.44%	95.56%	57.22%	60.93%	54.03%	65.68%	68.49%	97.88%	78.24%	77.74%	69.85%	75.32%	55.16%	61.16%	57.49%	55.51%	52.23%	53.70%	54.83%	55.66%	52.31%	51.30%
Invested Capital	5,687,666,667	5,034,000,000	3,822,800,000	4,087,200,000	6,762,000,000	8,483,560,000	9,657,233,333	6,152,000,000	5,569,000,000	5,342,000,000	4,216,000,000	3,891,000,000	4,047,000,000	2,781,000,000	1,524,000,000	2,402,000,000	2,304,000,000	2,181,000,000	2,895,000,000	3,660,000,000	4,868,000,000	9,476,000,000	10,807,000,000	10,627,000,000	17,018,000,000	18,327,000,000	17,153,000,000	8,070,000,000	12,383,000,000	13,550,000,000	16,851,000,000	25,995,000,000	18,592,000,000	16,311,000,000	15,253,000,000	13,595,000,000	13,877,000,000	10,398,000,000	7,438,000,000	6,162,000,000	6,134,000,000	5,779,000,000	5,114,000,000
Invested Capital Margin	57.10%	55.08%	46.87%	52.96%	51.35%	51.29%	51.39%	56.87%	55.81%	58.63%	51.60%	52.48%	51.31%	37.87%	23.89%	39.78%	40.46%	37.09%	46.49%	58.38%	59.34%	124.41%	59.55%	35.25%	46.47%	42.74%	48.64%	27.21%	53.48%	49.67%	55.27%	69.61%	56.21%	52.05%	51.19%	48.60%	51.33%	46.74%	43.85%	46.32%	54.09%	53.09%	53.16%

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	9,969,000,000	9,098,400,000	7,883,500,000	7,535,466,667	13,804,400,000	16,960,680,000	19,107,866,667	10,817,000,000	9,978,000,000	9,112,000,000	8,171,000,000	7,414,000,000	7,887,000,000	7,343,000,000	6,380,000,000	6,038,000,000	5,695,000,000	5,881,000,000	6,227,000,000	6,269,000,000	8,203,000,000	7,617,000,000	18,147,000,000	30,146,000,000	36,622,000,000	42,879,000,000	35,262,000,000	29,663,000,000	23,155,000,000	27,279,000,000	30,486,000,000	37,346,000,000	33,075,000,000	31,340,000,000	29,794,000,000	27,973,000,000	27,037,000,000	22,245,000,000	16,963,000,000	13,303,000,000	11,341,000,000	10,885,000,000	9,620,000,000
Net Income	1,552,666,667	1,372,200,000	975,500,000	803,600,000	796,650,000	556,520,000	596,100,000	1,582,000,000	1,709,000,000	1,367,000,000	1,250,000,000	953,000,000	871,000,000	969,000,000	-151,000,000	562,000,000	643,000,000	-696,000,000	1,105,000,000	878,000,000	741,000,000	271,000,000	-88,000,000	-4,244,000,000	-49,000,000	3,661,000,000	4,599,000,000	2,191,000,000	893,000,000	-2,485,000,000	-3,937,000,000	1,318,000,000	817,000,000	-962,000,000	1,180,000,000	1,154,000,000	1,781,000,000	1,560,000,000	1,022,000,000	576,000,000	454,000,000	499,000,000	498,000,000
Net Income Margin	15.59%	14.98%	11.74%	9.99%	7.84%	5.98%	5.45%	14.63%	17.13%	15.00%	15.30%	12.85%	11.04%	13.20%	-2.37%	9.31%	11.29%	-11.83%	17.75%	14.01%	9.03%	3.56%	-0.48%	-14.08%	-0.13%	8.54%	13.04%	7.39%	3.86%	-9.11%	-12.91%	3.53%	2.47%	-3.07%	3.96%	4.13%	6.59%	7.01%	6.02%	4.33%	4.00%	4.58%	5.18%
Depreciation & Amortization	377,333,333	395,800,000	352,100,000	337,866,667	436,200,000	729,280,000	973,966,667	336,000,000	356,000,000	440,000,000	438,000,000	409,000,000	394,000,000	360,000,000	343,000,000	295,000,000	150,000,000	173,000,000	228,000,000	208,000,000	366,000,000	572,000,000	751,000,000	831,000,000	903,000,000	558,000,000	613,000,000	659,000,000	1,667,000,000	2,108,000,000	2,552,000,000	2,522,000,000	2,193,000,000	2,208,000,000	2,339,000,000	2,316,000,000	1,931,000,000	1,547,000,000	1,196,000,000	1,029,000,000	886,000,000	790,000,000	650,000,000
Depreciation & Amortization Margin	3.83%	4.48%	4.52%	4.47%	3.97%	4.47%	4.96%	3.11%	3.57%	4.83%	5.36%	5.52%	5.00%	4.90%	5.38%	4.89%	2.63%	2.94%	3.66%	3.32%	4.46%	7.51%	4.14%	2.76%	2.47%	1.30%	1.74%	2.22%	7.20%	7.73%	8.37%	6.75%	6.63%	7.05%	7.85%	8.28%	7.14%	6.95%	7.05%	7.74%	7.81%	7.26%	6.76%
Deferred Income Tax	-193,666,667	-114,400,000	82,600,000	45,933,333	176,400,000	15,240,000	-42,666,667	-215,000,000	-32,000,000	-334,000,000	34,000,000	-25,000,000	-84,000,000	9,000,000	1,100,000,000	213,000,000	160,000,000	-557,000,000	-231,000,000	242,000,000	63,000,000	346,000,000	50,000,000	1,698,000,000	-747,000,000	838,000,000	1,000,000,000	456,000,000	1,000,000	-1,570,000,000	-2,273,000,000	239,000,000	-415,000,000	-933,000,000	-98,000,000	-160,000,000	-55,000,000	-177,000,000	50,000,000	-23,000,000	-5,000,000	-62,000,000	-31,000,000
Deferred Income Tax Margin	-1.99%	-1.18%	1.67%	0.85%	1.07%	0.41%	0.17%	-1.99%	-0.32%	-3.67%	0.42%	-0.34%	-1.07%	0.12%	17.24%	3.53%	2.81%	-9.47%	-3.71%	3.86%	0.77%	4.54%	0.28%	5.63%	-2.04%	1.95%	2.84%	1.54%	0.00%	-5.76%	-7.46%	0.64%	-1.25%	-2.98%	-0.33%	-0.57%	-0.20%	-0.80%	0.29%	-0.17%	-0.04%	-0.57%	-0.32%
Stock-Based Compensation	209,000,000	177,000,000	128,800,000	144,000,000	166,350,000	133,080,000	110,900,000	243,000,000	212,000,000	172,000,000	129,000,000	129,000,000	118,000,000	73,000,000	66,000,000	68,000,000	78,000,000	94,000,000	153,000,000	184,000,000	168,000,000	273,000,000	296,000,000	280,000,000	315,000,000	276,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	2.09%	1.92%	1.56%	1.88%	1.61%	1.29%	1.08%	2.25%	2.12%	1.89%	1.58%	1.74%	1.50%	0.99%	1.03%	1.13%	1.37%	1.60%	2.46%	2.94%	2.05%	3.58%	1.63%	0.93%	0.86%	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-243,000,000	-132,200,000	-103,100,000	-247,000,000	-293,300,000	-387,840,000	-411,933,333	-156,000,000	-244,000,000	-329,000,000	-34,000,000	102,000,000	89,000,000	-370,000,000	-89,000,000	-61,000,000	61,000,000	-1,593,000,000	-259,000,000	-422,000,000	-584,000,000	184,000,000	-263,000,000	-757,000,000	256,000,000	-1,442,000,000	45,000,000	69,000,000	698,000,000	-636,000,000	1,527,000,000	-5,488,000,000	-1,526,000,000	-1,126,000,000	-709,000,000	958,000,000	-259,000,000	-369,000,000	55,000,000	372,000,000	18,000,000	55,000,000	94,000,000
Change in Working Capital Margin	-2.50%	-1.31%	-1.18%	-3.63%	-3.05%	-2.79%	-2.60%	-1.44%	-2.45%	-3.61%	-0.42%	1.38%	1.13%	-5.04%	-1.39%	-1.01%	1.07%	-27.09%	-4.16%	-6.73%	-7.12%	2.42%	-1.45%	-2.51%	0.70%	-3.36%	0.13%	0.23%	3.01%	-2.33%	5.01%	-14.70%	-4.61%	-3.59%	-2.38%	3.42%	-0.96%	-1.66%	0.32%	2.80%	0.16%	0.51%	0.98%
Accounts Receivable	-179,333,333	-89,000,000	-46,900,000	-71,800,000	51,400,000	17,400,000	14,500,000	-246,000,000	-180,000,000	-112,000,000	3,000,000	90,000,000	-79,000,000	62,000,000	-60,000,000	32,000,000	21,000,000	-62,000,000	-66,000,000	81,000,000	-250,000,000	-311,000,000	-10,000,000	1,891,000,000	2,538,000,000	-1,775,000,000	-539,000,000	-539,000,000	-54,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	-1.77%	-0.81%	-0.43%	-0.81%	-0.24%	-0.27%	-0.23%	-2.27%	-1.80%	-1.23%	0.04%	1.21%	-1.00%	0.84%	-0.94%	0.53%	0.37%	-1.05%	-1.06%	1.29%	-3.05%	-4.08%	-0.06%	6.27%	6.93%	-4.14%	-1.53%	-1.82%	-0.23%	0.00%	0.00%	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	6,666,667	-55,600,000	-30,500,000	-40,266,667	27,600,000	-14,920,000	-73,600,000	62,000,000	200,000,000	-242,000,000	-284,000,000	-14,000,000	-74,000,000	71,000,000	-46,000,000	6,000,000	16,000,000	-5,000,000	-10,000,000	-3,000,000	-14,000,000	-267,000,000	1,349,000,000	-54,000,000	556,000,000	-718,000,000	23,000,000	-433,000,000	77,000,000	-102,000,000	1,838,000,000	-2,305,000,000	-661,000,000	254,000,000	-880,000,000	308,000,000	-856,000,000	-806,000,000	-539,000,000	-77,000,000	3,000,000	-72,000,000	-29,000,000
Inventory Margin	-0.03%	-0.75%	-0.41%	-0.53%	-0.04%	-0.10%	-0.29%	0.57%	2.00%	-2.66%	-3.48%	-0.19%	-0.94%	0.97%	-0.72%	0.10%	0.28%	-0.09%	-0.16%	-0.05%	-0.17%	-3.51%	7.43%	-0.18%	1.52%	-1.67%	0.07%	-1.46%	0.33%	-0.37%	6.03%	-6.17%	-2.00%	0.81%	-2.95%	1.10%	-3.17%	-3.62%	-3.18%	-0.58%	0.03%	-0.66%	-0.30%
Accounts Payable	203,000,000	214,200,000	191,300,000	-78,200,000	-158,350,000	-35,040,000	-29,200,000	302,000,000	-144,000,000	451,000,000	578,000,000	-116,000,000	198,000,000	271,000,000	160,000,000	203,000,000	10,000,000	-120,000,000	-201,000,000	-162,000,000	-191,000,000	-2,412,000,000	-1,631,000,000	-1,631,000,000	-2,303,000,000	1,654,000,000	1,917,000,000	1,917,000,000	374,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	2.10%	2.36%	2.41%	-1.19%	-1.46%	-0.84%	-0.70%	2.79%	-1.44%	4.95%	7.07%	-1.56%	2.51%	3.69%	2.51%	3.36%	0.18%	-2.04%	-3.23%	-2.58%	-2.33%	-31.67%	-8.99%	-5.41%	-6.29%	3.86%	5.44%	6.46%	1.62%	0.00%	0.00%	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	-273,333,333	-201,800,000	-217,000,000	-56,733,333	-213,950,000	-355,280,000	-323,633,333	-274,000,000	-120,000,000	-426,000,000	-331,000,000	142,000,000	44,000,000	-774,000,000	-143,000,000	-302,000,000	14,000,000	-1,406,000,000	18,000,000	-338,000,000	-129,000,000	3,174,000,000	29,000,000	-963,000,000	-535,000,000	-603,000,000	-1,356,000,000	-876,000,000	301,000,000	-534,000,000	-311,000,000	-3,183,000,000	-865,000,000	-1,380,000,000	171,000,000	650,000,000	597,000,000	437,000,000	594,000,000	449,000,000	15,000,000	127,000,000	123,000,000
Other Working Capital Margin	-2.80%	-2.11%	-2.75%	-1.10%	-1.31%	-1.57%	-1.38%	-2.53%	-1.20%	-4.68%	-4.05%	1.92%	0.56%	-10.54%	-2.24%	-5.00%	0.25%	-23.91%	0.29%	-5.39%	-1.57%	41.67%	0.16%	-3.19%	-1.46%	-1.41%	-3.85%	-2.95%	1.30%	-1.96%	-1.02%	-8.52%	-2.62%	-4.40%	0.57%	2.32%	2.21%	1.96%	3.50%	3.38%	0.13%	1.17%	1.28%
Other Non-Cash Items	383,666,667	243,200,000	176,300,000	274,733,333	222,350,000	503,320,000	499,033,333	601,000,000	43,000,000	507,000,000	20,000,000	45,000,000	435,000,000	34,000,000	77,000,000	88,000,000	-87,000,000	1,989,000,000	-52,000,000	-20,000,000	120,000,000	321,000,000	-117,000,000	2,434,000,000	32,000,000	-392,000,000	-1,631,000,000	350,000,000	-488,000,000	3,922,000,000	4,107,000,000	245,000,000	859,000,000	1,834,000,000	-116,000,000	-78,000,000	-111,000,000	-9,000,000	-9,000,000	-12,000,000	5,000,000	26,000,000	0
Other Non-Cash Items Margin	3.85%	2.48%	1.95%	3.86%	2.99%	3.50%	3.16%	5.56%	0.43%	5.56%	0.24%	0.61%	5.52%	0.46%	1.21%	1.46%	-1.53%	33.82%	-0.84%	-0.32%	1.46%	4.21%	-0.64%	8.07%	0.09%	-0.91%	-4.63%	1.18%	-2.11%	14.38%	13.47%	0.66%	2.60%	5.85%	-0.39%	-0.28%	-0.41%	-0.04%	-0.05%	-0.09%	0.04%	0.24%	0.00%
Net Cash from Operating Activities	2,086,000,000	1,941,600,000	1,612,200,000	1,359,133,333	1,503,600,000	1,522,400,000	1,702,733,333	2,391,000,000	2,044,000,000	1,823,000,000	1,837,000,000	1,613,000,000	1,823,000,000	1,075,000,000	1,346,000,000	1,165,000,000	1,005,000,000	-590,000,000	944,000,000	1,070,000,000	874,000,000	1,967,000,000	629,000,000	242,000,000	710,000,000	3,499,000,000	4,605,000,000	3,066,000,000	2,771,000,000	1,339,000,000	1,976,000,000	-1,164,000,000	1,928,000,000	1,021,000,000	2,596,000,000	4,190,000,000	3,287,000,000	2,552,000,000	2,314,000,000	1,942,000,000	1,358,000,000	1,308,000,000	1,211,000,000
Net Cash from Operating Activities Margin	20.87%	21.37%	20.26%	17.42%	14.44%	12.77%	12.14%	22.10%	20.49%	20.01%	22.48%	21.76%	23.11%	14.64%	21.10%	19.29%	17.65%	-10.03%	15.16%	17.07%	10.65%	25.82%	3.47%	0.80%	1.94%	8.16%	13.06%	10.34%	11.97%	4.91%	6.48%	-3.12%	5.83%	3.26%	8.71%	14.98%	12.16%	11.47%	13.64%	14.60%	11.97%	12.02%	12.59%
Capital Expenditures (PPE)	-255,333,333	-245,200,000	-234,400,000	-228,266,667	-298,100,000	-526,800,000	-971,566,667	-257,000,000	-253,000,000	-256,000,000	-243,000,000	-217,000,000	-248,000,000	-197,000,000	-227,000,000	-271,000,000	-175,000,000	-181,000,000	-191,000,000	-187,000,000	-186,000,000	-335,000,000	-275,000,000	-504,000,000	-527,000,000	-649,000,000	-583,000,000	-494,000,000	-655,000,000	-607,000,000	-1,321,000,000	-4,131,000,000	-2,684,000,000	-3,221,000,000	-2,874,000,000	-2,973,000,000	-4,225,000,000	-3,320,000,000	-2,187,000,000	-1,386,000,000	-1,317,000,000	-1,256,000,000	-1,094,000,000
Capital Expenditures (PPE) Margin	-2.57%	-2.72%	-3.06%	-3.09%	-2.71%	-3.05%	-4.35%	-2.38%	-2.54%	-2.81%	-2.97%	-2.93%	-3.14%	-2.68%	-3.56%	-4.49%	-3.07%	-3.08%	-3.07%	-2.98%	-2.27%	-4.40%	-1.52%	-1.67%	-1.44%	-1.51%	-1.65%	-1.67%	-2.83%	-2.23%	-4.33%	-11.06%	-8.11%	-10.28%	-9.65%	-10.63%	-15.63%	-14.92%	-12.89%	-10.42%	-11.61%	-11.54%	-11.37%
Acquisitions (Net)	-549,000,000	-491,000,000	-679,200,000	-387,733,333	-468,250,000	-506,440,000	-422,033,333	-290,000,000	-180,000,000	-1,177,000,000	-521,000,000	-287,000,000	-709,000,000	-1,164,000,000	-404,000,000	-1,474,000,000	-586,000,000	-47,000,000	-65,000,000	-109,000,000	1,091,000,000	106,000,000	265,000,000	133,000,000	-4,568,000,000	933,000,000	-312,000,000	-476,000,000	-302,000,000	-94,000,000	-512,000,000	-1,912,000,000	0	0	0	0	0	0	0	0	0	0	0
Acquisitions (Net) Margin	-5.80%	-5.53%	-9.35%	-5.49%	-4.58%	-4.07%	-3.39%	-2.68%	-1.80%	-12.92%	-6.38%	-3.87%	-8.99%	-15.85%	-6.33%	-24.41%	-10.29%	-0.80%	-1.04%	-1.74%	13.30%	1.39%	1.46%	0.44%	-12.47%	2.18%	-0.88%	-1.60%	-1.30%	-0.34%	-1.68%	-5.12%	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	391,333,333	326,800,000	275,200,000	299,800,000	280,800,000	234,080,000	176,233,333	0	0	1,174,000,000	243,000,000	217,000,000	248,000,000	197,000,000	227,000,000	271,000,000	175,000,000	84,000,000	191,000,000	-38,000,000	1,514,000,000	-6,000,000	-922,000,000	-282,000,000	6,897,000,000	-1,417,000,000	-3,157,000,000	-13,000,000	-82,000,000	143,000,000	14,000,000	174,000,000	-496,000,000	0	-37,000,000	0	-32,000,000	0	-105,000,000	-22,000,000	0	-110,000,000	-57,000,000
Purchases of Investments Margin	4.29%	3.76%	3.57%	3.87%	2.93%	2.37%	1.92%	0.00%	0.00%	12.88%	2.97%	2.93%	3.14%	2.68%	3.56%	4.49%	3.07%	1.43%	3.07%	-0.61%	18.46%	-0.08%	-5.08%	-0.94%	18.83%	-3.30%	-8.95%	-0.04%	-0.35%	0.52%	0.05%	0.47%	-1.50%	0.00%	-0.12%	0.00%	-0.12%	0.00%	-0.62%	-0.17%	0.00%	-1.01%	-0.59%
Sales / Maturities of Investments	35,000,000	26,400,000	132,600,000	662,200,000	1,116,150,000	951,160,000	799,833,333	40,000,000	19,000,000	46,000,000	16,000,000	11,000,000	16,000,000	95,000,000	183,000,000	670,000,000	230,000,000	3,403,000,000	2,200,000,000	1,037,000,000	1,515,000,000	452,000,000	223,000,000	1,334,000,000	7,308,000,000	1,960,000,000	1,565,000,000	682,000,000	173,000,000	23,000,000	233,000,000	345,000,000	0	164,000,000	0	52,000,000	0	40,000,000	0	0	81,000,000	0	0
Sales / Maturities of Investments Margin	0.36%	0.28%	2.09%	10.34%	9.48%	7.78%	6.51%	0.37%	0.19%	0.50%	0.20%	0.15%	0.20%	1.29%	2.87%	11.10%	4.04%	57.86%	35.33%	16.54%	18.47%	5.93%	1.23%	4.43%	19.96%	4.57%	4.44%	2.30%	0.75%	0.08%	0.76%	0.92%	0.00%	0.52%	0.00%	0.19%	0.00%	0.18%	0.00%	0.00%	0.71%	0.00%	0.00%
Other Investing Activities	-391,333,333	-314,400,000	-260,700,000	-288,466,667	-633,800,000	-244,120,000	-119,333,333	0	0	-1,174,000,000	-237,000,000	-161,000,000	-241,000,000	-197,000,000	-227,000,000	-198,000,000	-172,000,000	-144,000,000	-125,000,000	94,000,000	-1,516,000,000	-29,000,000	41,000,000	113,000,000	-6,731,000,000	-1,875,000,000	103,000,000	138,000,000	843,000,000	96,000,000	4,063,000,000	1,433,000,000	2,452,000,000	92,000,000	286,000,000	15,000,000	-322,000,000	-688,000,000	-215,000,000	-86,000,000	4,000,000	-78,000,000	-92,000,000
Other Investing Activities Margin	-4.29%	-3.59%	-3.36%	-3.69%	-3.86%	-2.22%	-1.60%	0.00%	0.00%	-12.88%	-2.90%	-2.17%	-3.06%	-2.68%	-3.56%	-3.28%	-3.02%	-2.45%	-2.01%	1.50%	-18.48%	-0.38%	0.23%	0.37%	-18.38%	-4.37%	0.29%	0.47%	3.64%	0.35%	13.33%	3.84%	7.41%	0.29%	0.96%	0.05%	-1.19%	-3.09%	-1.27%	-0.65%	0.04%	-0.72%	-0.96%
Net Cash from Investing Activities	-769,333,333	-697,400,000	-766,500,000	57,533,333	-3,200,000	-92,120,000	-536,866,667	-507,000,000	-414,000,000	-1,387,000,000	-742,000,000	-437,000,000	-934,000,000	-1,266,000,000	-448,000,000	-1,002,000,000	-528,000,000	3,115,000,000	2,010,000,000	797,000,000	2,418,000,000	188,000,000	-668,000,000	794,000,000	2,379,000,000	-1,048,000,000	-2,384,000,000	-163,000,000	-23,000,000	-439,000,000	2,477,000,000	-4,091,000,000	-728,000,000	-2,965,000,000	-2,625,000,000	-2,906,000,000	-4,579,000,000	-3,968,000,000	-2,507,000,000	-1,494,000,000	-1,232,000,000	-1,444,000,000	-1,243,000,000
Net Cash from Investing Activities Margin	-8.02%	-7.81%	-10.10%	1.93%	1.26%	0.80%	-0.92%	-4.69%	-4.15%	-15.22%	-9.08%	-5.89%	-11.84%	-17.24%	-7.02%	-16.59%	-9.27%	52.97%	32.28%	12.71%	29.48%	2.47%	-3.68%	2.63%	6.50%	-2.44%	-6.76%	-0.55%	-0.10%	-1.61%	8.13%	-10.95%	-2.20%	-9.46%	-8.81%	-10.39%	-16.94%	-17.84%	-14.78%	-11.23%	-10.86%	-13.27%	-12.92%
Net Debt Issuance	-103,000,000	32,000,000	114,000,000	49,200,000	-51,700,000	-88,800,000	42,300,000	-618,000,000	-1,000,000	310,000,000	491,000,000	-22,000,000	-561,000,000	598,000,000	-11,000,000	-13,000,000	967,000,000	910,000,000	589,000,000	334,000,000	-1,219,000,000	-1,016,000,000	-218,000,000	-268,000,000	-213,000,000	48,000,000	-1,121,000,000	-2,769,000,000	-1,139,000,000	-521,000,000	-1,826,000,000	5,069,000,000	51,000,000	2,107,000,000	110,000,000	-242,000,000	1,463,000,000	359,000,000	409,000,000	-140,000,000	-8,000,000	215,000,000	138,000,000
Net Debt Issuance Margin	-0.77%	0.68%	2.10%	1.54%	0.87%	0.35%	0.68%	-5.71%	-0.01%	3.40%	6.01%	-0.30%	-7.11%	8.14%	-0.17%	-0.22%	16.98%	15.47%	9.46%	5.33%	-14.86%	-13.34%	-1.20%	-0.89%	-0.58%	0.11%	-3.18%	-9.33%	-4.92%	-1.91%	-5.99%	13.57%	0.15%	6.72%	0.37%	-0.87%	5.41%	1.61%	2.41%	-1.05%	-0.07%	1.98%	1.43%
Long-Term Debt Issuance	-103,000,000	32,000,000	114,000,000	49,533,333	-36,400,000	-75,800,000	53,133,333	-618,000,000	-1,000,000	310,000,000	491,000,000	-22,000,000	-561,000,000	598,000,000	-11,000,000	-13,000,000	967,000,000	910,000,000	589,000,000	334,000,000	-1,219,000,000	-1,011,000,000	-132,000,000	-218,000,000	29,000,000	-18,000,000	-1,132,000,000	-2,750,000,000	-1,139,000,000	-521,000,000	-1,826,000,000	5,069,000,000	51,000,000	2,107,000,000	110,000,000	-242,000,000	1,463,000,000	359,000,000	409,000,000	-140,000,000	-8,000,000	215,000,000	138,000,000
Long-Term Debt Issuance Margin	-0.77%	0.68%	2.10%	1.54%	0.93%	0.40%	0.73%	-5.71%	-0.01%	3.40%	6.01%	-0.30%	-7.11%	8.14%	-0.17%	-0.22%	16.98%	15.47%	9.46%	5.33%	-14.86%	-13.27%	-0.73%	-0.72%	0.08%	-0.04%	-3.21%	-9.27%	-4.92%	-1.91%	-5.99%	13.57%	0.15%	6.72%	0.37%	-0.87%	5.41%	1.61%	2.41%	-1.05%	-0.07%	1.98%	1.43%
Short-Term Debt Issuance	0	0	0	-333,333	-15,300,000	-13,000,000	-10,833,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-5,000,000	-86,000,000	-50,000,000	-242,000,000	66,000,000	11,000,000	-19,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	-0.06%	-0.05%	-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%	-0.07%	-0.47%	-0.17%	-0.66%	0.15%	0.03%	-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%	0.00%	0.00%	0.00%
Net Stock Issuance	-569,333,333	-569,600,000	-737,000,000	-976,933,333	-985,450,000	-669,000,000	-515,033,333	-172,000,000	-700,000,000	-836,000,000	-528,000,000	-612,000,000	-315,000,000	36,000,000	-401,000,000	-749,000,000	-3,093,000,000	-2,546,000,000	-1,694,000,000	-2,305,000,000	-918,000,000	179,000,000	116,000,000	7,000,000	-2,595,000,000	-2,908,000,000	325,000,000	1,680,000,000	158,000,000	401,000,000	362,000,000	383,000,000	1,028,000,000	53,000,000	137,000,000	7,000,000	49,000,000	1,061,000,000	113,000,000	167,000,000	19,000,000	55,000,000	29,000,000
Net Stock Issuance Margin	-5.93%	-6.50%	-10.90%	-15.01%	-11.87%	-9.09%	-7.45%	-1.59%	-7.02%	-9.17%	-6.46%	-8.25%	-3.99%	0.49%	-6.29%	-12.40%	-54.31%	-43.29%	-27.20%	-36.77%	-11.19%	2.35%	0.64%	0.02%	-7.09%	-6.78%	0.92%	5.66%	0.68%	1.47%	1.19%	1.03%	3.11%	0.17%	0.46%	0.03%	0.18%	4.77%	0.67%	1.26%	0.17%	0.51%	0.30%
Common Stock Issuance	111,666,667	109,000,000	108,600,000	126,000,000	235,400,000	307,680,000	298,866,667	75,000,000	104,000,000	156,000,000	102,000,000	108,000,000	114,000,000	168,000,000	82,000,000	93,000,000	84,000,000	135,000,000	165,000,000	133,000,000	192,000,000	179,000,000	116,000,000	145,000,000	440,000,000	918,000,000	1,199,000,000	1,680,000,000	158,000,000	401,000,000	362,000,000	383,000,000	1,028,000,000	53,000,000	137,000,000	7,000,000	49,000,000	1,061,000,000	113,000,000	167,000,000	19,000,000	55,000,000	29,000,000
Common Stock Issuance Margin	1.15%	1.23%	1.42%	1.73%	1.69%	1.75%	1.59%	0.69%	1.04%	1.71%	1.25%	1.46%	1.45%	2.29%	1.29%	1.54%	1.47%	2.30%	2.65%	2.12%	2.34%	2.35%	0.64%	0.48%	1.20%	2.14%	3.40%	5.66%	0.68%	1.47%	1.19%	1.03%	3.11%	0.17%	0.46%	0.03%	0.18%	4.77%	0.67%	1.26%	0.17%	0.51%	0.30%
Common Stock Repurchased	-629,000,000	-605,400,000	-797,600,000	-1,050,933,333	-1,181,850,000	-945,480,000	-787,900,000	-247,000,000	-804,000,000	-836,000,000	-528,000,000	-612,000,000	-315,000,000	-132,000,000	-483,000,000	-842,000,000	-3,177,000,000	-2,546,000,000	-1,694,000,000	-2,438,000,000	-1,110,000,000	0	0	-138,000,000	-3,035,000,000	-3,826,000,000	-874,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Repurchased Margin	-6.51%	-6.85%	-11.73%	-16.02%	-13.02%	-10.42%	-8.68%	-2.28%	-8.06%	-9.17%	-6.46%	-8.25%	-3.99%	-1.80%	-7.57%	-13.95%	-55.79%	-43.29%	-27.20%	-38.89%	-13.53%	0.00%	0.00%	-0.46%	-8.29%	-8.92%	-2.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	-52,000,000	-73,200,000	-48,000,000	-48,800,000	-36,600,000	-29,280,000	-24,400,000	0	0	-156,000,000	-102,000,000	-108,000,000	-114,000,000	0	0	0	0	-87,000,000	-165,000,000	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	-0.57%	-0.88%	-0.59%	-0.67%	-0.50%	-0.40%	-0.33%	0.00%	0.00%	-1.71%	-1.25%	-1.46%	-1.45%	0.00%	0.00%	0.00%	0.00%	-1.48%	-2.65%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-591,000,000	-538,200,000	-427,100,000	-355,800,000	-360,450,000	-360,480,000	-345,800,000	-654,000,000	-589,000,000	-530,000,000	-482,000,000	-436,000,000	-379,000,000	-337,000,000	-307,000,000	-280,000,000	-277,000,000	-318,000,000	-292,000,000	-270,000,000	-72,000,000	-114,000,000	-114,000,000	-453,000,000	-468,000,000	-443,000,000	-394,000,000	-378,000,000	-372,000,000	-364,000,000	-356,000,000	-333,000,000	-291,000,000	-288,000,000	-286,000,000	-261,000,000	-236,000,000	-149,000,000	-120,000,000	-100,000,000	-100,000,000	-100,000,000	-99,000,000
Net Dividends Paid Margin	-5.92%	-5.91%	-5.33%	-4.67%	-3.78%	-3.27%	-2.88%	-6.05%	-5.90%	-5.82%	-5.90%	-5.88%	-4.81%	-4.59%	-4.81%	-4.64%	-4.86%	-5.41%	-4.69%	-4.31%	-0.88%	-1.50%	-0.63%	-1.50%	-1.28%	-1.03%	-1.12%	-1.27%	-1.61%	-1.33%	-1.17%	-0.89%	-0.88%	-0.92%	-0.96%	-0.93%	-0.87%	-0.67%	-0.71%	-0.75%	-0.88%	-0.92%	-1.03%
Common Dividends Paid	-591,000,000	-538,200,000	-427,100,000	-355,800,000	-360,450,000	-360,480,000	-345,800,000	-654,000,000	-589,000,000	-530,000,000	-482,000,000	-436,000,000	-379,000,000	-337,000,000	-307,000,000	-280,000,000	-277,000,000	-318,000,000	-292,000,000	-270,000,000	-72,000,000	-114,000,000	-114,000,000	-453,000,000	-468,000,000	-443,000,000	-394,000,000	-378,000,000	-372,000,000	-364,000,000	-356,000,000	-333,000,000	-291,000,000	-288,000,000	-286,000,000	-261,000,000	-236,000,000	-149,000,000	-120,000,000	-100,000,000	-100,000,000	-100,000,000	-99,000,000
Common Dividends Paid Margin	-5.92%	-5.91%	-5.33%	-4.67%	-3.78%	-3.27%	-2.88%	-6.05%	-5.90%	-5.82%	-5.90%	-5.88%	-4.81%	-4.59%	-4.81%	-4.64%	-4.86%	-5.41%	-4.69%	-4.31%	-0.88%	-1.50%	-0.63%	-1.50%	-1.28%	-1.03%	-1.12%	-1.27%	-1.61%	-1.33%	-1.17%	-0.89%	-0.88%	-0.92%	-0.96%	-0.93%	-0.87%	-0.67%	-0.71%	-0.75%	-0.88%	-0.92%	-1.03%
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	47,000,000	67,000,000	37,100,000	-152,933,333	-90,950,000	-28,080,000	-23,400,000	-4,000,000	-5,000,000	150,000,000	90,000,000	104,000,000	111,000,000	-77,000,000	-3,000,000	0	5,000,000	98,000,000	190,000,000	-53,000,000	-3,383,000,000	483,000,000	6,000,000	69,000,000	-25,000,000	142,000,000	283,000,000	1,230,000,000	-113,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Financing Activities Margin	0.52%	0.81%	0.45%	-1.77%	-1.26%	-0.86%	-0.72%	-0.04%	-0.05%	1.65%	1.10%	1.40%	1.41%	-1.05%	-0.05%	0.00%	0.09%	1.67%	3.05%	-0.85%	-41.24%	6.34%	0.03%	0.23%	-0.07%	0.33%	0.80%	4.15%	-0.49%	0.00%	0.00%	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 Cash from Financing Activities	-1,216,333,333	-1,008,800,000	-1,011,400,000	-1,451,266,667	-1,510,050,000	-1,163,560,000	-856,833,333	-1,448,000,000	-1,295,000,000	-906,000,000	-429,000,000	-966,000,000	-1,144,000,000	220,000,000	-722,000,000	-1,042,000,000	-2,382,000,000	-1,711,000,000	-1,207,000,000	-2,294,000,000	-5,592,000,000	-851,000,000	-210,000,000	-645,000,000	-3,226,000,000	-3,161,000,000	-1,190,000,000	-237,000,000	-1,466,000,000	-484,000,000	-1,820,000,000	5,119,000,000	725,000,000	1,918,000,000	-39,000,000	-496,000,000	1,276,000,000	1,271,000,000	402,000,000	-73,000,000	-89,000,000	170,000,000	68,000,000
Net Cash from Financing Activities Margin	-12.10%	-10.92%	-13.65%	-20.06%	-16.19%	-13.00%	-10.46%	-13.39%	-12.98%	-9.94%	-5.25%	-13.03%	-14.50%	3.00%	-11.32%	-17.26%	-41.83%	-29.09%	-19.38%	-36.59%	-68.17%	-11.17%	-1.16%	-2.14%	-8.81%	-7.37%	-3.37%	-0.80%	-6.33%	-1.77%	-5.97%	13.71%	2.19%	6.12%	-0.13%	-1.77%	4.72%	5.71%	2.37%	-0.55%	-0.78%	1.56%	0.71%
Effect of FX on Cash	-24,333,333	-15,200,000	-19,500,000	-17,066,667	-8,150,000	3,280,000	2,766,667	-39,000,000	45,000,000	-79,000,000	-46,000,000	43,000,000	-1,000,000	-40,000,000	62,000,000	-71,000,000	-69,000,000	-85,000,000	10,000,000	14,000,000	-27,000,000	27,000,000	54,000,000	-79,000,000	73,000,000	148,000,000	-103,000,000	100,000,000	88,000,000	9,000,000	148,000,000	-100,000,000	-33,000,000	34,000,000	0	0	0	0	0	-448,000,000	-126,000,000	136,000,000	32,000,000
Effect of FX on Cash Margin	-0.26%	-0.15%	-0.27%	-0.25%	-0.17%	-0.10%	-0.08%	-0.36%	0.45%	-0.87%	-0.56%	0.58%	-0.01%	-0.54%	0.97%	-1.18%	-1.21%	-1.45%	0.16%	0.22%	-0.33%	0.35%	0.30%	-0.26%	0.20%	0.35%	-0.29%	0.34%	0.38%	0.03%	0.49%	-0.27%	-0.10%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.37%	-1.11%	1.25%	0.33%
Net Change in Cash	76,000,000	220,200,000	-185,200,000	-51,133,333	-17,400,000	270,320,000	312,066,667	397,000,000	380,000,000	-549,000,000	620,000,000	253,000,000	-256,000,000	-11,000,000	238,000,000	-950,000,000	-1,974,000,000	729,000,000	1,757,000,000	-413,000,000	-2,327,000,000	1,339,000,000	-195,000,000	312,000,000	-64,000,000	-562,000,000	928,000,000	2,766,000,000	1,370,000,000	425,000,000	2,781,000,000	-236,000,000	1,892,000,000	8,000,000	-68,000,000	788,000,000	-16,000,000	-145,000,000	209,000,000	-73,000,000	-89,000,000	170,000,000	68,000,000
Net Change in Cash Margin	0.48%	2.49%	-3.76%	-0.96%	-0.66%	0.48%	0.68%	3.67%	3.81%	-6.03%	7.59%	3.41%	-3.25%	-0.15%	3.73%	-15.73%	-34.66%	12.40%	28.22%	-6.59%	-28.37%	17.58%	-1.07%	1.03%	-0.17%	-1.31%	2.63%	9.32%	5.92%	1.56%	9.12%	-0.63%	5.72%	0.03%	-0.23%	2.82%	-0.06%	-0.65%	1.23%	-0.55%	-0.78%	1.56%	0.71%
Cash at Beginning of Period	1,634,666,667	1,431,800,000	1,664,800,000	2,019,933,333	2,277,550,000	2,910,720,000	2,621,500,000	1,705,000,000	1,325,000,000	1,874,000,000	1,254,000,000	1,001,000,000	1,257,000,000	1,268,000,000	1,030,000,000	1,980,000,000	3,954,000,000	3,225,000,000	1,468,000,000	1,881,000,000	4,208,000,000	2,869,000,000	3,064,000,000	2,752,000,000	2,816,000,000	3,774,000,000	2,846,000,000	7,790,000,000	6,507,000,000	6,082,000,000	3,301,000,000	3,537,000,000	1,453,000,000	1,445,000,000	1,513,000,000	725,000,000	741,000,000	886,000,000	677,000,000	302,000,000	265,000,000	231,000,000	195,000,000
Cash at Beginning of Period Margin	16.54%	15.69%	23.00%	28.49%	23.90%	23.00%	19.81%	15.76%	13.28%	20.57%	15.35%	13.50%	15.94%	17.27%	16.14%	32.79%	69.43%	54.84%	23.57%	30.00%	51.30%	37.67%	16.88%	9.13%	7.69%	8.80%	8.07%	26.26%	28.10%	22.30%	10.83%	9.47%	4.39%	4.61%	5.08%	2.59%	2.74%	3.98%	3.99%	2.27%	2.34%	2.12%	2.03%
Cash at End of Period	1,710,666,667	1,652,000,000	1,479,600,000	1,968,800,000	2,260,150,000	3,181,040,000	2,933,566,667	2,102,000,000	1,705,000,000	1,325,000,000	1,874,000,000	1,254,000,000	1,001,000,000	1,257,000,000	1,268,000,000	1,030,000,000	1,980,000,000	3,954,000,000	3,225,000,000	1,468,000,000	1,881,000,000	4,208,000,000	2,869,000,000	3,064,000,000	2,752,000,000	3,212,000,000	3,774,000,000	10,556,000,000	7,877,000,000	6,507,000,000	6,082,000,000	3,301,000,000	3,345,000,000	1,453,000,000	1,445,000,000	1,513,000,000	725,000,000	741,000,000	886,000,000	229,000,000	176,000,000	401,000,000	263,000,000
Cash at End of Period Margin	17.02%	18.18%	19.24%	27.54%	23.24%	23.48%	20.49%	19.43%	17.09%	14.54%	22.93%	16.91%	12.69%	17.12%	19.87%	17.06%	34.77%	67.23%	51.79%	23.42%	22.93%	55.24%	15.81%	10.16%	7.51%	7.49%	10.70%	35.59%	34.02%	23.85%	19.95%	8.84%	10.11%	4.64%	4.85%	5.41%	2.68%	3.33%	5.22%	1.72%	1.55%	3.68%	2.73%
Operating Cash Flow	2,086,000,000	1,941,600,000	1,612,200,000	1,359,133,333	1,503,600,000	1,522,400,000	1,702,733,333	2,391,000,000	2,044,000,000	1,823,000,000	1,837,000,000	1,613,000,000	1,823,000,000	1,075,000,000	1,346,000,000	1,165,000,000	1,005,000,000	-590,000,000	944,000,000	1,070,000,000	874,000,000	1,967,000,000	629,000,000	242,000,000	710,000,000	3,499,000,000	4,605,000,000	3,066,000,000	2,771,000,000	1,339,000,000	1,976,000,000	-1,164,000,000	1,928,000,000	1,021,000,000	2,596,000,000	4,190,000,000	3,287,000,000	2,552,000,000	2,314,000,000	1,942,000,000	1,358,000,000	1,308,000,000	1,211,000,000
Operating Cash Flow Margin	20.87%	21.37%	20.26%	17.42%	14.44%	12.77%	12.14%	22.10%	20.49%	20.01%	22.48%	21.76%	23.11%	14.64%	21.10%	19.29%	17.65%	-10.03%	15.16%	17.07%	10.65%	25.82%	3.47%	0.80%	1.94%	8.16%	13.06%	10.34%	11.97%	4.91%	6.48%	-3.12%	5.83%	3.26%	8.71%	14.98%	12.16%	11.47%	13.64%	14.60%	11.97%	12.02%	12.59%
Capital Expenditure	-255,333,333	-245,200,000	-234,400,000	-228,266,667	-298,100,000	-526,800,000	-971,566,667	-257,000,000	-253,000,000	-256,000,000	-243,000,000	-217,000,000	-248,000,000	-197,000,000	-227,000,000	-271,000,000	-175,000,000	-181,000,000	-191,000,000	-187,000,000	-186,000,000	-335,000,000	-275,000,000	-504,000,000	-527,000,000	-649,000,000	-583,000,000	-494,000,000	-655,000,000	-607,000,000	-1,321,000,000	-4,131,000,000	-2,684,000,000	-3,221,000,000	-2,874,000,000	-2,973,000,000	-4,225,000,000	-3,320,000,000	-2,187,000,000	-1,386,000,000	-1,317,000,000	-1,256,000,000	-1,094,000,000
Capital Expenditure Margin	-2.57%	-2.72%	-3.06%	-3.09%	-2.71%	-3.05%	-4.35%	-2.38%	-2.54%	-2.81%	-2.97%	-2.93%	-3.14%	-2.68%	-3.56%	-4.49%	-3.07%	-3.08%	-3.07%	-2.98%	-2.27%	-4.40%	-1.52%	-1.67%	-1.44%	-1.51%	-1.65%	-1.67%	-2.83%	-2.23%	-4.33%	-11.06%	-8.11%	-10.28%	-9.65%	-10.63%	-15.63%	-14.92%	-12.89%	-10.42%	-11.61%	-11.54%	-11.37%
Free Cash Flow	1,830,666,667	1,696,400,000	1,377,800,000	1,130,866,667	1,205,500,000	995,600,000	731,166,667	2,134,000,000	1,791,000,000	1,567,000,000	1,594,000,000	1,396,000,000	1,575,000,000	878,000,000	1,119,000,000	894,000,000	830,000,000	-771,000,000	753,000,000	883,000,000	688,000,000	1,632,000,000	354,000,000	-262,000,000	183,000,000	2,850,000,000	4,022,000,000	2,572,000,000	2,116,000,000	732,000,000	655,000,000	-5,295,000,000	-756,000,000	-2,200,000,000	-278,000,000	1,217,000,000	-938,000,000	-768,000,000	127,000,000	556,000,000	41,000,000	52,000,000	117,000,000
Free Cash Flow Margin	18.29%	18.64%	17.21%	14.33%	11.73%	9.72%	7.79%	19.73%	17.95%	17.20%	19.51%	18.83%	19.97%	11.96%	17.54%	14.81%	14.57%	-13.11%	12.09%	14.09%	8.39%	21.43%	1.95%	-0.87%	0.50%	6.65%	11.41%	8.67%	9.14%	2.68%	2.15%	-14.18%	-2.29%	-7.02%	-0.93%	4.35%	-3.47%	-3.45%	0.75%	4.18%	0.36%	0.48%	1.22%

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	9,969,000,000	9,098,400,000	7,883,500,000	7,535,466,667	13,804,400,000	16,960,680,000	19,107,866,667	10,817,000,000	9,978,000,000	9,112,000,000	8,171,000,000	7,414,000,000	7,887,000,000	7,343,000,000	6,380,000,000	6,038,000,000	5,695,000,000	5,881,000,000	6,227,000,000	6,269,000,000	8,203,000,000	7,617,000,000	18,147,000,000	30,146,000,000	36,622,000,000	42,879,000,000	35,262,000,000	29,663,000,000	23,155,000,000	27,279,000,000	30,486,000,000	37,346,000,000	33,075,000,000	31,340,000,000	29,794,000,000	27,973,000,000	27,037,000,000	22,245,000,000	16,963,000,000	13,303,000,000	11,341,000,000	10,885,000,000	9,620,000,000
EBITDA	2,516,333,333	2,314,000,000	1,915,500,000	1,539,600,000	1,620,000,000	1,710,280,000	2,101,900,000	2,603,000,000	2,751,000,000	2,195,000,000	2,205,000,000	1,816,000,000	1,632,000,000	1,702,000,000	1,634,000,000	1,364,000,000	1,253,000,000	-841,000,000	1,170,000,000	1,140,000,000	1,236,000,000	1,234,000,000	350,000,000	-1,578,000,000	736,000,000	4,650,000,000	5,148,000,000	3,532,000,000	2,146,000,000	2,059,000,000	-1,393,000,000	4,013,000,000	3,781,000,000	3,095,000,000	4,286,000,000	4,276,000,000	4,862,000,000	4,126,000,000	2,862,000,000	1,986,000,000	1,628,000,000	1,589,000,000	1,426,000,000
EBITDA Margin	25.24%	25.44%	24.13%	19.68%	15.97%	14.17%	14.11%	24.06%	27.57%	24.09%	26.99%	24.49%	20.69%	23.18%	25.61%	22.59%	22.00%	-14.30%	18.79%	18.18%	15.07%	16.20%	1.93%	-5.23%	2.01%	10.84%	14.60%	11.91%	9.27%	7.55%	-4.57%	10.75%	11.43%	9.88%	14.39%	15.29%	17.98%	18.55%	16.87%	14.93%	14.35%	14.60%	14.82%
(-) Tax Adjustment	427,670,169	410,785,944	516,473,928	429,339,052	385,451,961	440,934,434	534,104,507	514,792,089	553,789,376	214,429,043	429,065,722	341,853,492	211,948,052	205,413,793	1,863,306,691	455,744,076	374,396,947	336,834,625	-78,443,182	273,030,647	-5,024,390	748,948,795	-110,636,183	-963,101,405	-537,846,154	1,360,704,989	1,519,832,190	1,149,715,938	698,697,674	-574,201,683	397,855,562	1,642,254,146	1,155,223,694	-901,902,344	1,501,044,053	1,495,997,746	1,749,411,215	1,484,818,219	943,990,820	556,080,000	422,270,799	398,442,943	326,699,690
(-) Tax Adjustment Margin	4.22%	4.50%	7.13%	6.00%	4.61%	4.11%	4.00%	4.76%	5.55%	2.35%	5.25%	4.61%	2.69%	2.80%	29.21%	7.55%	6.57%	5.73%	-1.26%	4.36%	-0.06%	9.83%	-0.61%	-3.19%	-1.47%	3.17%	4.31%	3.88%	3.02%	-2.10%	1.31%	4.40%	3.49%	-2.88%	5.04%	5.35%	6.47%	6.67%	5.56%	4.18%	3.72%	3.66%	3.40%
(-) Change In Working Capital	-243,000,000	-132,200,000	-103,100,000	-247,000,000	-293,300,000	-387,840,000	-411,933,333	-156,000,000	-244,000,000	-329,000,000	-34,000,000	102,000,000	89,000,000	-370,000,000	-89,000,000	-61,000,000	61,000,000	-1,593,000,000	-259,000,000	-422,000,000	-584,000,000	184,000,000	-263,000,000	-757,000,000	256,000,000	-1,442,000,000	45,000,000	69,000,000	698,000,000	-636,000,000	1,527,000,000	-5,488,000,000	-1,526,000,000	-1,126,000,000	-709,000,000	958,000,000	-259,000,000	-369,000,000	55,000,000	372,000,000	18,000,000	55,000,000	94,000,000
(-) Change In Working Capital Margin	-2.50%	-1.31%	-1.18%	-3.63%	-3.05%	-2.79%	-2.60%	-1.44%	-2.45%	-3.61%	-0.42%	1.38%	1.13%	-5.04%	-1.39%	-1.01%	1.07%	-27.09%	-4.16%	-6.73%	-7.12%	2.42%	-1.45%	-2.51%	0.70%	-3.36%	0.13%	0.23%	3.01%	-2.33%	5.01%	-14.70%	-4.61%	-3.59%	-2.38%	3.42%	-0.96%	-1.66%	0.32%	2.80%	0.16%	0.51%	0.98%
(-) Capital Expenditure	-255,333,333	-245,200,000	-234,400,000	-228,266,667	-298,100,000	-526,800,000	-971,566,667	-257,000,000	-253,000,000	-256,000,000	-243,000,000	-217,000,000	-248,000,000	-197,000,000	-227,000,000	-271,000,000	-175,000,000	-181,000,000	-191,000,000	-187,000,000	-186,000,000	-335,000,000	-275,000,000	-504,000,000	-527,000,000	-649,000,000	-583,000,000	-494,000,000	-655,000,000	-607,000,000	-1,321,000,000	-4,131,000,000	-2,684,000,000	-3,221,000,000	-2,874,000,000	-2,973,000,000	-4,225,000,000	-3,320,000,000	-2,187,000,000	-1,386,000,000	-1,317,000,000	-1,256,000,000	-1,094,000,000
(-) Capital Expenditure Margin	-2.57%	-2.72%	-3.06%	-3.09%	-2.71%	-3.05%	-4.35%	-2.38%	-2.54%	-2.81%	-2.97%	-2.93%	-3.14%	-2.68%	-3.56%	-4.49%	-3.07%	-3.08%	-3.07%	-2.98%	-2.27%	-4.40%	-1.52%	-1.67%	-1.44%	-1.51%	-1.65%	-1.67%	-2.83%	-2.23%	-4.33%	-11.06%	-8.11%	-10.28%	-9.65%	-10.63%	-15.63%	-14.92%	-12.89%	-10.42%	-11.61%	-11.54%	-11.37%
Unlevered Free Cash Flow	2,076,329,831	1,790,214,056	1,267,726,072	1,128,994,282	1,229,748,039	1,130,385,566	1,008,162,159	1,987,207,911	2,188,210,624	2,053,570,957	1,566,934,278	1,155,146,508	1,083,051,948	1,669,586,207	-367,306,691	698,255,924	642,603,053	234,165,375	1,316,443,182	1,101,969,353	1,639,024,390	-33,948,795	448,636,183	-361,898,595	490,846,154	4,082,295,011	3,000,167,810	1,819,284,062	94,302,326	2,662,201,683	-4,638,855,562	3,727,745,854	1,467,776,306	1,901,902,344	619,955,947	-1,150,997,746	-853,411,215	-309,818,219	-323,990,820	-328,080,000	-129,270,799	-120,442,943	-88,699,690
Unlevered Free Cash Flow Margin	20.95%	19.52%	15.12%	14.23%	11.70%	9.80%	8.35%	18.37%	21.93%	22.54%	19.18%	15.58%	13.73%	22.74%	-5.76%	11.56%	11.28%	3.98%	21.14%	17.58%	19.98%	-0.45%	2.47%	-1.20%	1.34%	9.52%	8.51%	6.13%	0.41%	9.76%	-15.22%	9.98%	4.44%	6.07%	2.08%	-4.11%	-3.16%	-1.39%	-1.91%	-2.47%	-1.14%	-1.11%	-0.92%
(-) Net Interest Income After Taxes	-186,182,259	-180,931,716	-152,089,906	-132,876,028	-107,408,096	-85,926,477	-71,605,397	-182,106,491	-172,518,173	-203,922,112	-167,525,773	-178,586,031	-191,428,571	-195,206,897	28,207,249	-136,504,739	-121,307,525	-176,465,116	-120,576,136	-50,192,963	-74,300,813	-50,706,325	-173,725,646	18,704,140	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	-1.88%	-2.02%	-1.91%	-1.76%	-1.37%	-1.09%	-0.91%	-1.68%	-1.73%	-2.24%	-2.05%	-2.41%	-2.43%	-2.66%	0.44%	-2.26%	-2.13%	-3.00%	-1.94%	-0.80%	-0.91%	-0.67%	-0.96%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt Issuance	-103,000,000	32,000,000	114,000,000	49,200,000	-51,700,000	-88,800,000	42,300,000	-618,000,000	-1,000,000	310,000,000	491,000,000	-22,000,000	-561,000,000	598,000,000	-11,000,000	-13,000,000	967,000,000	910,000,000	589,000,000	334,000,000	-1,219,000,000	-1,016,000,000	-218,000,000	-268,000,000	-213,000,000	48,000,000	-1,121,000,000	-2,769,000,000	-1,139,000,000	-521,000,000	-1,826,000,000	5,069,000,000	51,000,000	2,107,000,000	110,000,000	-242,000,000	1,463,000,000	359,000,000	409,000,000	-140,000,000	-8,000,000	215,000,000	138,000,000
Net Debt Issuance Margin	-0.77%	0.68%	2.10%	1.54%	0.87%	0.35%	0.68%	-5.71%	-0.01%	3.40%	6.01%	-0.30%	-7.11%	8.14%	-0.17%	-0.22%	16.98%	15.47%	9.46%	5.33%	-14.86%	-13.34%	-1.20%	-0.89%	-0.58%	0.11%	-3.18%	-9.33%	-4.92%	-1.91%	-5.99%	13.57%	0.15%	6.72%	0.37%	-0.87%	5.41%	1.61%	2.41%	-1.05%	-0.07%	1.98%	1.43%
Levered Free Cash Flow	2,159,512,090	2,003,145,772	1,533,815,978	1,311,070,309	1,285,456,136	1,127,512,043	1,122,067,557	1,551,314,402	2,359,728,798	2,567,493,069	2,225,460,052	1,311,732,538	713,480,519	2,462,793,103	-406,513,941	821,760,664	1,730,910,578	1,320,630,491	2,026,019,318	1,486,162,316	494,325,203	-999,242,470	404,361,829	-648,602,735	277,846,154	4,130,295,011	1,879,167,810	-949,715,938	-1,044,697,674	2,141,201,683	-6,464,855,562	8,796,745,854	1,518,776,306	4,008,902,344	729,955,947	-1,392,997,746	609,588,785	49,181,781	85,009,180	-468,080,000	-137,270,799	94,557,057	49,300,310
Levered Free Cash Flow Margin	22.06%	22.22%	19.13%	17.53%	13.94%	11.25%	9.94%	14.34%	23.65%	28.18%	27.24%	17.69%	9.05%	33.54%	-6.37%	13.61%	30.39%	22.46%	32.54%	23.71%	6.03%	-13.12%	2.23%	-2.15%	0.76%	9.63%	5.33%	-3.20%	-4.51%	7.85%	-21.21%	23.55%	4.59%	12.79%	2.45%	-4.98%	2.25%	0.22%	0.50%	-3.52%	-1.21%	0.87%	0.51%