Rush Enterprises, Inc. (RUSHA)

Analysis: Margins & Ratios Industry: Auto - Dealerships Sector: Consumer Cyclical Live Price: $61.53

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	7,610,480,000	6,538,704,400	5,791,778,800	4,879,930,267	4,116,963,550	3,467,537,400	2,970,706,333	7,671,888,000	7,824,625,000	7,804,746,000	7,925,024,000	7,101,670,000	5,126,142,000	4,735,940,000	5,809,847,000	5,506,190,000	4,713,882,000	4,214,614,000	4,979,733,000	4,727,356,000	3,384,705,000	3,090,567,000	2,580,611,000	1,497,927,000	1,239,289,000	1,654,956,000	2,030,779,000	2,350,523,000	1,864,770,000	1,094,979,000	815,332,000	757,147,000	784,278,000	897,428,000	808,355,000	612,800,000	399,400,000	343,700,000	268,500,000
Cost of Revenue	6,073,258,333	5,222,818,400	4,700,156,600	3,983,049,200	3,368,841,250	2,837,522,440	2,432,220,200	6,180,492,000	6,306,897,000	6,273,330,000	6,331,934,000	5,614,511,000	4,033,844,000	3,860,473,000	4,784,219,000	4,527,921,000	3,883,946,000	3,496,602,000	4,194,786,000	3,971,310,000	2,812,691,000	2,589,800,000	2,157,334,000	1,213,037,000	1,014,198,000	1,358,244,000	1,678,711,000	1,997,856,000	1,582,078,000	909,837,000	662,082,000	615,942,000	634,983,000	738,392,000	671,345,000	508,200,000	334,600,000	289,100,000	225,300,000
Cost of Revenue Margin	79.78%	79.91%	81.37%	81.95%	82.28%	82.18%	82.41%	80.56%	80.60%	80.38%	79.90%	79.06%	78.69%	81.51%	82.35%	82.23%	82.39%	82.96%	84.24%	84.01%	83.10%	83.80%	83.60%	80.98%	81.84%	82.07%	82.66%	85.00%	84.84%	83.09%	81.20%	81.35%	80.96%	82.28%	83.05%	82.93%	83.78%	84.11%	83.91%
Gross Profit	1,537,221,667	1,315,886,000	1,091,622,200	896,881,067	748,122,300	630,014,960	538,486,133	1,491,396,000	1,517,728,000	1,531,416,000	1,593,090,000	1,487,159,000	1,092,298,000	875,467,000	1,025,628,000	978,269,000	829,936,000	718,012,000	784,947,000	756,046,000	572,014,000	500,767,000	423,277,000	284,890,000	225,091,000	296,712,000	352,068,000	352,667,000	282,692,000	185,142,000	153,250,000	141,205,000	149,295,000	159,036,000	137,010,000	104,600,000	64,800,000	54,600,000	43,200,000
Gross Profit Margin	20.22%	20.09%	18.63%	18.05%	17.72%	17.82%	17.59%	19.44%	19.40%	19.62%	20.10%	20.94%	21.31%	18.49%	17.65%	17.77%	17.61%	17.04%	15.76%	15.99%	16.90%	16.20%	16.40%	19.02%	18.16%	17.93%	17.34%	15.00%	15.16%	16.91%	18.80%	18.65%	19.04%	17.72%	16.95%	17.07%	16.22%	15.89%	16.09%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	981,714,667	868,348,400	763,881,600	637,219,533	532,261,500	450,743,400	385,366,233	1,007,101,000	1,011,846,000	995,586,000	1,021,722,000	927,836,000	731,340,000	665,258,000	753,749,000	705,226,000	631,053,000	587,778,000	619,268,000	573,670,000	450,340,000	361,727,000	306,273,000	227,467,000	199,496,000	228,057,000	240,661,000	230,056,000	188,667,000	141,947,000	124,207,000	111,721,000	121,632,000	123,848,000	93,502,000	75,800,000	50,600,000	40,600,000	31,900,000
SG&A Expenses Margin	12.90%	13.41%	13.26%	13.12%	12.92%	13.23%	13.03%	13.13%	12.93%	12.76%	12.89%	13.07%	14.27%	14.05%	12.97%	12.81%	13.39%	13.95%	12.44%	12.14%	13.31%	11.70%	11.87%	15.19%	16.10%	13.78%	11.85%	9.79%	10.12%	12.96%	15.23%	14.76%	15.51%	13.80%	11.57%	12.37%	12.67%	11.81%	11.88%
Operating Expenses	1,042,512,000	926,618,400	820,121,600	683,428,267	570,457,500	483,374,920	413,241,833	1,077,046,000	1,042,298,000	1,063,326,000	1,080,709,000	983,501,000	784,694,000	720,862,000	809,121,000	775,715,000	681,122,000	639,039,000	663,127,000	614,456,000	480,265,000	386,743,000	325,521,000	243,223,000	216,096,000	243,935,000	255,596,000	242,945,000	199,154,000	151,066,000	133,136,000	120,315,000	133,279,000	137,427,000	101,882,000	80,600,000	53,600,000	43,000,000	33,800,000
Operating Expenses Margin	13.70%	14.33%	14.26%	14.08%	13.85%	14.21%	13.98%	14.04%	13.32%	13.62%	13.64%	13.85%	15.31%	15.22%	13.93%	14.09%	14.45%	15.16%	13.32%	13.00%	14.19%	12.51%	12.61%	16.24%	17.44%	14.74%	12.59%	10.34%	10.68%	13.80%	16.33%	15.89%	16.99%	15.31%	12.60%	13.15%	13.42%	12.51%	12.59%
Operating Income (EBIT)	495,528,000	390,045,000	272,019,400	213,792,933	177,935,900	146,856,920	125,425,033	414,350,000	475,430,000	468,090,000	512,381,000	506,113,000	309,036,000	154,605,000	216,405,000	202,851,000	148,709,000	80,728,000	121,276,000	141,741,000	91,754,000	114,200,000	97,338,000	41,667,000	9,315,000	52,777,000	96,472,000	109,722,000	83,538,000	34,076,000	20,114,000	20,890,000	16,016,000	21,609,000	35,128,000	24,000,000	11,200,000	11,600,000	9,400,000
Operating Income (EBIT) Margin	6.53%	5.78%	4.38%	3.98%	3.88%	3.62%	3.61%	5.40%	6.08%	6.00%	6.47%	7.13%	6.03%	3.26%	3.72%	3.68%	3.15%	1.92%	2.44%	3.00%	2.71%	3.70%	3.77%	2.78%	0.75%	3.19%	4.75%	4.67%	4.48%	3.11%	2.47%	2.76%	2.04%	2.41%	4.35%	3.92%	2.80%	3.38%	3.50%
Interest Income	860,667	790,400	901,000	625,067	603,300	482,640	402,200	1,166,000	0	1,166,000	777,000	639,000	657,000	713,000	1,680,000	1,376,000	891,000	621,000	490,000	239,000	0	0	0	127,000	54,000	2,636,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.01%	0.01%	0.02%	0.01%	0.02%	0.01%	0.01%	0.02%	0.00%	0.01%	0.01%	0.01%	0.01%	0.02%	0.03%	0.02%	0.02%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.01%	0.00%	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%
Interest Expense	48,493,667	31,527,000	25,124,400	19,936,133	16,478,300	13,182,640	10,985,533	54,230,000	70,603,000	72,024,000	53,694,000	19,763,000	2,427,000	9,727,000	30,487,000	21,058,000	13,201,000	14,900,000	13,963,000	11,437,000	10,693,000	13,017,000	7,161,000	5,490,000	5,749,000	9,866,000	14,909,000	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	0.63%	0.43%	0.40%	0.37%	0.37%	0.29%	0.25%	0.71%	0.90%	0.92%	0.68%	0.28%	0.05%	0.21%	0.52%	0.38%	0.28%	0.35%	0.28%	0.24%	0.32%	0.42%	0.28%	0.37%	0.46%	0.60%	0.73%	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	-47,633,000	-30,736,600	-24,223,400	-19,311,067	-15,875,000	-12,700,000	-10,583,333	-53,064,000	-70,603,000	-70,858,000	-52,917,000	-19,124,000	-1,770,000	-9,014,000	-28,807,000	-19,682,000	-12,310,000	-14,279,000	-13,473,000	-11,198,000	-10,693,000	-13,017,000	-7,161,000	-5,363,000	-5,695,000	-7,230,000	-14,909,000	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	-0.61%	-0.41%	-0.38%	-0.36%	-0.35%	-0.28%	-0.23%	-0.69%	-0.90%	-0.91%	-0.67%	-0.27%	-0.03%	-0.19%	-0.50%	-0.36%	-0.26%	-0.34%	-0.27%	-0.24%	-0.32%	-0.42%	-0.28%	-0.36%	-0.46%	-0.44%	-0.73%	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	86,760,000	53,859,800	44,447,600	35,956,000	31,184,850	26,655,160	23,185,467	107,165,000	139,993,000	141,133,000	103,237,000	15,910,000	-2,877,000	11,896,000	55,689,000	39,364,000	24,620,000	28,558,000	26,946,000	22,396,000	21,386,000	26,034,000	14,322,000	10,726,000	11,794,000	14,920,000	29,579,000	15,664,000	12,400,000	5,326,000	4,364,000	6,344,000	10,580,000	16,068,000	8,185,000	6,000,000	2,500,000	3,100,000	9,400,000
Unusual Items Margin	1.11%	0.71%	0.69%	0.68%	0.74%	0.79%	0.89%	1.40%	1.79%	1.81%	1.30%	0.22%	-0.06%	0.25%	0.96%	0.71%	0.52%	0.68%	0.54%	0.47%	0.63%	0.84%	0.55%	0.72%	0.95%	0.90%	1.46%	0.67%	0.66%	0.49%	0.54%	0.84%	1.35%	1.79%	1.01%	0.98%	0.63%	0.90%	3.50%
EBT Excluding Unusual Items	369,641,000	313,062,000	207,347,600	161,192,000	131,441,200	106,246,600	89,637,433	253,084,000	266,047,000	256,682,000	358,824,000	493,417,000	316,560,000	139,827,000	133,834,000	143,805,000	111,779,000	37,891,000	80,857,000	108,147,000	59,675,000	75,149,000	75,855,000	25,578,000	-8,578,000	30,167,000	52,223,000	78,394,000	58,738,000	23,424,000	11,386,000	8,202,000	-5,144,000	-10,527,000	18,758,000	12,000,000	6,200,000	5,400,000	-9,400,000
EBT Excluding Unusual Items Margin	4.92%	4.78%	3.37%	2.99%	2.75%	2.31%	2.06%	3.30%	3.40%	3.29%	4.53%	6.95%	6.18%	2.95%	2.30%	2.61%	2.37%	0.90%	1.62%	2.29%	1.76%	2.43%	2.94%	1.71%	-0.69%	1.82%	2.57%	3.34%	3.15%	2.14%	1.40%	1.08%	-0.66%	-1.17%	2.32%	1.96%	1.55%	1.57%	-3.50%
Pre-Tax Income	456,401,000	366,921,800	251,795,200	197,148,000	162,626,050	132,901,760	112,822,900	360,249,000	406,040,000	397,815,000	462,061,000	509,327,000	313,683,000	151,723,000	189,523,000	183,169,000	136,399,000	66,449,000	107,803,000	130,543,000	81,061,000	101,183,000	90,177,000	36,304,000	3,216,000	45,087,000	81,802,000	94,058,000	71,138,000	28,750,000	15,750,000	14,546,000	5,436,000	5,541,000	26,943,000	18,000,000	8,700,000	8,500,000	0
Pre-Tax Income Margin	6.03%	5.48%	4.06%	3.67%	3.49%	3.10%	2.95%	4.70%	5.19%	5.10%	5.83%	7.17%	6.12%	3.20%	3.26%	3.33%	2.89%	1.58%	2.16%	2.76%	2.39%	3.27%	3.49%	2.42%	0.26%	2.72%	4.03%	4.00%	3.81%	2.63%	1.93%	1.92%	0.69%	0.62%	3.33%	2.94%	2.18%	2.47%	0.00%
Income Tax Expense	108,029,000	86,638,200	55,712,500	48,332,267	41,531,650	34,348,600	29,456,400	83,627,000	98,145,000	92,845,000	114,000,000	117,242,000	72,268,000	36,836,000	47,940,000	44,107,000	-35,730,000	25,867,000	41,750,000	50,586,000	31,844,000	38,728,000	34,964,000	11,737,000	-2,668,000	16,222,000	30,310,000	35,272,000	26,513,000	11,574,000	6,300,000	5,818,000	2,174,000	2,216,000	10,777,000	7,200,000	3,300,000	2,300,000	1,400,000
Income Tax Expense Margin	1.43%	1.29%	0.88%	0.95%	0.97%	0.90%	0.90%	1.09%	1.25%	1.19%	1.44%	1.65%	1.41%	0.78%	0.83%	0.80%	-0.76%	0.61%	0.84%	1.07%	0.94%	1.25%	1.35%	0.78%	-0.22%	0.98%	1.49%	1.50%	1.42%	1.06%	0.77%	0.77%	0.28%	0.25%	1.33%	1.17%	0.83%	0.67%	0.52%
Net Income	347,530,000	279,778,400	195,830,100	149,095,000	121,303,850	98,266,600	83,441,033	274,202,000	307,448,000	304,153,000	347,055,000	391,382,000	241,415,000	114,887,000	141,583,000	139,062,000	172,129,000	40,582,000	66,053,000	79,957,000	49,217,000	62,455,000	55,213,000	31,282,000	5,884,000	28,865,000	51,492,000	58,786,000	44,625,000	16,916,000	8,829,000	-1,744,000	3,262,000	3,325,000	16,166,000	10,800,000	5,400,000	6,200,000	8,000,000
Net Income Margin	4.60%	4.18%	3.18%	2.75%	2.54%	2.16%	2.13%	3.57%	3.93%	3.90%	4.38%	5.51%	4.71%	2.43%	2.44%	2.53%	3.65%	0.96%	1.33%	1.69%	1.45%	2.02%	2.14%	2.09%	0.47%	1.74%	2.54%	2.50%	2.39%	1.54%	1.08%	-0.23%	0.42%	0.37%	2.00%	1.76%	1.35%	1.80%	2.98%
Depreciation and Amortization	218,797,000	200,647,000	182,435,400	148,029,000	119,176,150	98,422,760	82,701,633	203,610,000	189,448,000	236,101,000	221,141,000	199,149,000	169,497,000	177,347,000	175,484,000	185,122,000	157,951,000	157,627,000	144,935,000	126,452,000	93,486,000	73,289,000	56,934,000	45,920,000	40,698,000	38,508,000	35,798,000	27,074,000	21,010,000	15,923,000	15,542,000	15,846,000	16,156,000	13,579,000	8,380,000	4,800,000	3,000,000	2,400,000	1,900,000
Depreciation and Amortization Margin	2.87%	3.13%	3.21%	3.01%	2.74%	2.55%	2.26%	2.65%	2.42%	3.03%	2.79%	2.80%	3.31%	3.74%	3.02%	3.36%	3.35%	3.74%	2.91%	2.67%	2.76%	2.37%	2.21%	3.07%	3.28%	2.33%	1.76%	1.15%	1.13%	1.45%	1.91%	2.09%	2.06%	1.51%	1.04%	0.78%	0.75%	0.70%	0.71%
EBITDA	715,214,333	592,308,200	456,119,400	362,721,800	297,511,300	245,578,280	208,375,500	616,591,000	665,545,000	705,940,000	736,896,000	702,807,000	477,101,000	338,797,000	391,991,000	389,349,000	306,765,000	244,847,000	266,701,000	264,836,000	185,281,000	187,510,000	154,292,000	87,714,000	48,369,000	87,416,000	132,270,000	136,796,000	104,548,000	49,999,000	35,656,000	36,736,000	32,172,000	34,668,000	43,508,000	28,800,000	14,200,000	14,000,000	11,300,000
EBITDA Margin	9.41%	8.94%	7.62%	7.01%	6.61%	6.16%	5.87%	8.04%	8.51%	9.05%	9.30%	9.90%	9.31%	7.15%	6.75%	7.07%	6.51%	5.81%	5.36%	5.60%	5.47%	6.07%	5.98%	5.86%	3.90%	5.28%	6.51%	5.82%	5.61%	4.57%	4.37%	4.85%	4.10%	3.86%	5.38%	4.70%	3.56%	4.07%	4.21%
NOPAT	378,140,183	297,865,689	211,627,253	161,138,732	132,480,888	108,686,254	92,581,544	318,164,175	360,512,560	358,843,702	385,966,016	389,610,831	237,838,601	117,069,295	161,665,176	154,004,585	187,663,630	49,302,528	74,308,170	86,815,725	55,709,362	70,489,717	59,597,492	28,196,154	17,042,743	33,788,190	60,726,342	68,575,958	52,403,543	20,357,891	12,068,400	12,534,574	9,610,779	12,966,960	21,077,061	14,400,000	6,951,724	8,461,176	9,400,000
NOPAT Margin	4.98%	4.41%	3.43%	2.95%	2.82%	2.56%	2.56%	4.15%	4.61%	4.60%	4.87%	5.49%	4.64%	2.47%	2.78%	2.80%	3.98%	1.17%	1.49%	1.84%	1.65%	2.28%	2.31%	1.88%	1.38%	2.04%	2.99%	2.92%	2.81%	1.86%	1.48%	1.66%	1.23%	1.44%	2.61%	2.35%	1.74%	2.46%	3.50%
Owner's Earnings	217,997,667	210,752,400	112,786,500	63,057,933	46,639,500	35,954,280	28,302,600	75,588,000	154,872,000	107,207,000	199,315,000	347,471,000	243,735,000	156,034,000	23,574,000	85,924,000	120,163,000	1,244,000	-156,802,000	-54,411,000	-48,881,000	-35,207,000	-36,396,000	-7,101,000	-3,903,000	-787,000	22,022,000	-30,245,000	-166,000	-11,727,000	5,599,000	-2,424,000	-1,312,000	-24,069,000	-35,779,000	-15,900,000	-1,800,000	100,000	3,600,000
Owner's Earnings Margin	2.93%	3.37%	1.82%	0.84%	0.60%	0.34%	0.08%	0.99%	1.98%	1.37%	2.52%	4.89%	4.75%	3.29%	0.41%	1.56%	2.55%	0.03%	-3.15%	-1.15%	-1.44%	-1.14%	-1.41%	-0.47%	-0.31%	-0.05%	1.08%	-1.29%	-0.01%	-1.07%	0.69%	-0.32%	-0.17%	-2.68%	-4.43%	-2.59%	-0.45%	0.03%	1.34%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	7,610,480,000	6,538,704,400	5,791,778,800	4,879,930,267	4,116,963,550	3,467,537,400	2,970,706,333	7,804,746,000	7,925,024,000	7,101,670,000	5,126,142,000	4,735,940,000	5,809,847,000	5,506,190,000	4,713,882,000	4,214,614,000	4,979,733,000	4,727,356,000	3,384,705,000	3,090,567,000	2,580,611,000	1,497,927,000	1,239,289,000	1,654,956,000	2,030,779,000	2,350,523,000	1,864,770,000	1,094,979,000	815,332,000	757,147,000	784,278,000	897,428,000	808,355,000	612,800,000	399,400,000	343,700,000	268,500,000
Cash & Cash Equivalents	204,300,000	214,618,800	165,785,400	176,143,067	170,964,400	147,014,360	125,375,433	228,131,000	183,725,000	201,044,000	148,146,000	312,048,000	181,620,000	131,726,000	124,541,000	82,026,000	64,847,000	191,463,000	217,305,000	198,773,000	207,775,000	168,976,000	149,095,000	146,411,000	187,009,000	161,558,000	133,069,000	158,175,000	34,389,000	24,763,000	19,852,000	18,892,000	20,004,000	22,500,000	19,800,000	21,500,000	2,100,000
Cash & Cash Equivalents Margin	2.69%	3.51%	2.90%	4.35%	5.46%	5.43%	5.13%	2.92%	2.32%	2.83%	2.89%	6.59%	3.13%	2.39%	2.64%	1.95%	1.30%	4.05%	6.42%	6.43%	8.05%	11.28%	12.03%	8.85%	9.21%	6.87%	7.14%	14.45%	4.22%	3.27%	2.53%	2.11%	2.47%	3.67%	4.96%	6.26%	0.78%
Short-Term Investments	0	0	0	0	378,750	303,000	252,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,575,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Investments Margin	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	204,300,000	214,618,800	165,785,400	176,143,067	171,343,150	147,317,360	125,627,933	228,131,000	183,725,000	201,044,000	148,146,000	312,048,000	181,620,000	131,726,000	124,541,000	82,026,000	64,847,000	191,463,000	217,305,000	198,773,000	207,775,000	168,976,000	149,095,000	153,986,000	187,009,000	161,558,000	133,069,000	158,175,000	34,389,000	24,763,000	19,852,000	18,892,000	20,004,000	22,500,000	19,800,000	21,500,000	2,100,000
Cash & Short-Term Investments Margin	2.69%	3.51%	2.90%	4.35%	5.49%	5.45%	5.15%	2.92%	2.32%	2.83%	2.89%	6.59%	3.13%	2.39%	2.64%	1.95%	1.30%	4.05%	6.42%	6.43%	8.05%	11.28%	12.03%	9.30%	9.21%	6.87%	7.14%	14.45%	4.22%	3.27%	2.53%	2.11%	2.47%	3.67%	4.96%	6.26%	0.78%
Net Receivables	268,370,000	218,354,800	198,408,800	166,457,600	138,885,100	116,167,120	100,461,500	354,882,000	259,353,000	190,875,000	114,183,000	172,481,000	183,704,000	203,535,000	171,122,000	166,365,000	167,588,000	178,195,000	103,293,000	89,615,000	98,160,000	43,513,000	38,869,000	55,274,000	48,781,000	74,441,000	63,473,000	30,296,000	24,492,000	24,935,000	26,403,000	20,350,000	29,767,000	19,500,000	20,900,000	23,100,000	16,400,000
Net Receivables Margin	3.50%	3.28%	3.42%	3.37%	3.30%	3.23%	3.52%	4.55%	3.27%	2.69%	2.23%	3.64%	3.16%	3.70%	3.63%	3.95%	3.37%	3.77%	3.05%	2.90%	3.80%	2.90%	3.14%	3.34%	2.40%	3.17%	3.40%	2.77%	3.00%	3.29%	3.37%	2.27%	3.68%	3.18%	5.23%	6.72%	6.11%
Inventory	1,672,873,333	1,379,409,400	1,249,784,600	1,065,778,800	890,386,300	741,679,760	632,088,633	1,787,744,000	1,801,447,000	1,429,429,000	1,020,136,000	858,291,000	1,326,080,000	1,339,923,000	1,033,294,000	840,304,000	1,061,198,000	1,024,104,000	802,220,000	690,953,000	649,626,000	321,933,000	269,955,000	362,234,000	365,947,000	484,696,000	338,212,000	189,792,000	137,423,000	115,333,000	114,305,000	177,415,000	173,565,000	107,100,000	66,800,000	36,700,000	36,500,000
Inventory Margin	21.92%	20.76%	21.41%	21.90%	21.45%	20.51%	19.76%	22.91%	22.73%	20.13%	19.90%	18.12%	22.82%	24.33%	21.92%	19.94%	21.31%	21.66%	23.70%	22.36%	25.17%	21.49%	21.78%	21.89%	18.02%	20.62%	18.14%	17.33%	16.85%	15.23%	14.57%	19.77%	21.47%	17.48%	16.73%	10.68%	13.59%
Other Current Assets	21,504,333	21,084,400	17,696,500	16,639,733	14,771,300	13,391,480	11,274,100	18,958,000	15,779,000	29,776,000	26,003,000	14,906,000	21,147,000	2,269,000	34,172,000	13,955,000	0	5,053,000	16,277,000	14,630,000	12,286,000	24,385,000	15,064,000	6,730,000	8,727,000	9,624,000	5,685,000	2,962,000	11,687,000	21,337,000	1,508,000	1,867,000	736,000	600,000	300,000	1,500,000	300,000
Other Current Assets Margin	0.29%	0.34%	0.31%	0.42%	0.45%	0.56%	0.49%	0.24%	0.20%	0.42%	0.51%	0.31%	0.36%	0.04%	0.72%	0.33%	0.00%	0.11%	0.48%	0.47%	0.48%	1.63%	1.22%	0.41%	0.43%	0.41%	0.30%	0.27%	1.43%	2.82%	0.19%	0.21%	0.09%	0.10%	0.08%	0.44%	0.11%
Total Current Assets	2,172,587,333	1,839,988,400	1,641,356,900	1,437,159,333	1,224,659,400	1,026,217,080	875,836,633	2,389,715,000	2,260,304,000	1,867,743,000	1,324,454,000	1,357,726,000	1,712,551,000	1,687,944,000	1,375,098,000	1,111,448,000	1,326,586,000	1,445,514,000	1,153,436,000	1,006,059,000	980,005,000	558,807,000	472,983,000	581,593,000	610,464,000	730,319,000	540,439,000	381,225,000	209,113,000	188,132,000	163,312,000	220,457,000	224,072,000	149,700,000	107,800,000	82,800,000	55,300,000
Total Current Assets Margin	28.48%	27.99%	28.23%	30.32%	30.91%	29.95%	29.09%	30.62%	28.52%	26.30%	25.84%	28.67%	29.48%	30.66%	29.17%	26.37%	26.64%	30.58%	34.08%	32.55%	37.98%	37.31%	38.17%	35.14%	30.06%	31.07%	28.98%	34.82%	25.65%	24.85%	20.82%	24.57%	27.72%	24.43%	26.99%	24.09%	20.60%
Property, Plant & Equipment	1,602,190,000	1,483,616,200	1,340,748,600	1,109,195,133	904,934,350	749,308,160	632,184,333	1,727,043,000	1,608,248,000	1,471,279,000	1,347,215,000	1,264,296,000	1,337,128,000	1,184,053,000	1,159,595,000	1,135,805,000	1,172,824,000	923,080,000	739,663,000	622,112,000	499,667,000	445,919,000	354,749,000	332,147,000	299,013,000	278,690,000	196,161,000	138,953,000	114,477,000	117,859,000	132,196,000	130,532,000	103,426,000	54,400,000	34,200,000	23,200,000	17,600,000
Property, Plant & Equipment Margin	21.05%	23.22%	23.57%	23.09%	21.61%	20.23%	18.31%	22.13%	20.29%	20.72%	26.28%	26.70%	23.01%	21.50%	24.60%	26.95%	23.55%	19.53%	21.85%	20.13%	19.36%	29.77%	28.63%	20.07%	14.72%	11.86%	10.52%	12.69%	14.04%	15.57%	16.86%	14.55%	12.79%	8.88%	8.56%	6.75%	6.55%
Goodwill	421,521,333	385,407,400	337,719,300	292,603,933	245,472,600	196,378,080	163,648,400	427,493,000	420,708,000	416,363,000	370,331,000	292,142,000	292,142,000	291,391,000	291,391,000	290,191,000	285,041,000	265,145,000	215,464,000	198,257,000	182,612,000	150,388,000	140,836,000	141,904,000	120,582,000	117,071,000	0	0	0	0	0	0	0	0	0	0	0
Goodwill Margin	5.55%	6.01%	5.92%	6.31%	6.28%	5.02%	4.18%	5.48%	5.31%	5.86%	7.22%	6.17%	5.03%	5.29%	6.18%	6.89%	5.72%	5.61%	6.37%	6.41%	7.08%	10.04%	11.36%	8.57%	5.94%	4.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	12,200,000	12,940,000	29,652,100	30,083,733	22,562,800	18,050,240	15,041,867	12,000,000	12,300,000	12,300,000	14,100,000	14,000,000	15,900,000	37,962,000	57,680,000	59,372,000	60,907,000	53,618,000	52,607,000	48,510,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets Margin	0.16%	0.21%	0.59%	0.68%	0.51%	0.41%	0.34%	0.15%	0.16%	0.17%	0.28%	0.30%	0.27%	0.69%	1.22%	1.41%	1.22%	1.13%	1.55%	1.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	4,366,667	10,860,000	-7,081,400	-2,430,000	-2,506,450	-2,005,160	-1,670,967	4,700,000	8,400,000	0	0	41,200,000	34,900,000	-179,270,000	6,375,000	6,231,000	6,650,000	6,905,000	6,628,000	6,628,000	6,628,000	7,575,000	7,575,000	-6,730,000	-7,028,000	-7,496,000	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	0.06%	0.21%	-0.12%	0.01%	-0.02%	-0.01%	-0.01%	0.06%	0.11%	0.00%	0.00%	0.87%	0.60%	-3.26%	0.14%	0.15%	0.13%	0.15%	0.20%	0.21%	0.26%	0.51%	0.61%	-0.41%	-0.35%	-0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	0	0	66,293,700	48,986,533	38,566,100	31,264,480	26,053,733	0	0	0	0	0	0	141,308,000	135,311,000	197,331,000	188,987,000	18,387,000	16,277,000	14,630,000	12,286,000	10,281,000	11,414,000	6,730,000	7,028,000	7,496,000	3,856,000	1,544,000	2,863,000	4,375,000	1,508,000	0	0	0	0	0	0
Tax Assets Margin	0.00%	0.00%	1.39%	1.09%	0.93%	0.80%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.57%	2.87%	4.68%	3.80%	0.39%	0.48%	0.47%	0.48%	0.69%	0.92%	0.41%	0.35%	0.32%	0.21%	0.14%	0.35%	0.58%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	54,752,667	48,832,800	-22,479,500	-16,174,867	-7,404,850	1,990,520	4,148,700	56,596,000	54,281,000	53,381,000	63,877,000	16,029,000	14,708,000	37,962,000	-135,311,000	-197,331,000	-188,987,000	-18,387,000	-16,277,000	-14,630,000	36,503,000	-5,037,000	-10,260,000	1,146,000	1,532,000	2,330,000	99,778,000	44,211,000	40,425,000	34,144,000	41,195,000	37,885,000	38,198,000	16,600,000	13,500,000	3,200,000	3,200,000
Other Non-Current Assets Margin	0.72%	0.75%	-0.67%	-0.46%	-0.11%	0.83%	1.13%	0.73%	0.68%	0.75%	1.25%	0.34%	0.25%	0.69%	-2.87%	-4.68%	-3.80%	-0.39%	-0.48%	-0.47%	1.41%	-0.34%	-0.83%	0.07%	0.08%	0.10%	5.35%	4.04%	4.96%	4.51%	5.25%	4.22%	4.73%	2.71%	3.38%	0.93%	1.19%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	2,095,030,667	1,941,656,400	1,744,852,800	1,462,264,467	1,201,624,550	994,986,320	839,406,067	2,227,832,000	2,103,937,000	1,953,323,000	1,795,523,000	1,627,667,000	1,694,778,000	1,513,406,000	1,515,041,000	1,491,599,000	1,525,422,000	1,248,748,000	1,014,362,000	875,507,000	737,696,000	609,126,000	504,314,000	475,197,000	421,127,000	398,091,000	299,795,000	184,708,000	157,765,000	156,378,000	174,899,000	168,417,000	141,624,000	71,000,000	47,700,000	26,400,000	20,800,000
Total Non-Current Assets Margin	27.53%	30.40%	30.68%	30.72%	29.20%	27.27%	24.61%	28.54%	26.55%	27.51%	35.03%	34.37%	29.17%	27.49%	32.14%	35.39%	30.63%	26.42%	29.97%	28.33%	28.59%	40.66%	40.69%	28.71%	20.74%	16.94%	16.08%	16.87%	19.35%	20.65%	22.30%	18.77%	17.52%	11.59%	11.94%	7.68%	7.75%
Total Assets	4,267,618,000	3,781,644,800	3,386,209,700	2,899,423,800	2,426,283,950	2,021,203,400	1,715,242,700	4,617,547,000	4,364,241,000	3,821,066,000	3,119,977,000	2,985,393,000	3,407,329,000	3,201,350,000	2,890,139,000	2,603,047,000	2,852,008,000	2,694,262,000	2,167,798,000	1,881,566,000	1,717,701,000	1,167,933,000	977,297,000	1,056,790,000	1,031,591,000	1,128,410,000	840,234,000	565,933,000	366,878,000	344,510,000	338,211,000	388,874,000	365,696,000	220,700,000	155,500,000	109,200,000	76,100,000
Total Assets Margin	56.01%	58.39%	58.91%	61.04%	60.11%	57.23%	53.70%	59.16%	55.07%	53.81%	60.86%	63.04%	58.65%	58.14%	61.31%	61.76%	57.27%	56.99%	64.05%	60.88%	66.56%	77.97%	78.86%	63.86%	50.80%	48.01%	45.06%	51.68%	45.00%	45.50%	43.12%	43.33%	45.24%	36.02%	38.93%	31.77%	28.34%
Accounts Payable	192,623,000	162,177,600	139,804,100	119,031,533	97,032,900	80,732,840	68,451,033	244,018,000	162,134,000	171,717,000	122,291,000	110,728,000	133,697,000	127,451,000	107,906,000	97,844,000	120,255,000	124,555,000	100,375,000	62,270,000	62,299,000	37,933,000	22,427,000	31,530,000	40,452,000	37,449,000	23,327,000	16,970,000	16,170,000	15,082,000	15,284,000	14,157,000	9,710,000	6,900,000	5,800,000	5,200,000	7,600,000
Accounts Payable Margin	2.53%	2.46%	2.40%	2.43%	2.25%	2.16%	2.07%	3.13%	2.05%	2.42%	2.39%	2.34%	2.30%	2.31%	2.29%	2.32%	2.41%	2.63%	2.97%	2.01%	2.41%	2.53%	1.81%	1.91%	1.99%	1.59%	1.25%	1.55%	1.98%	1.99%	1.95%	1.58%	1.20%	1.13%	1.45%	1.51%	2.83%
Short-Term Debt	1,069,234,333	905,692,200	970,507,600	861,996,667	731,555,100	615,855,360	527,032,067	1,081,199,000	1,193,301,000	933,203,000	630,731,000	690,027,000	1,218,607,000	1,204,605,000	940,819,000	792,111,000	1,020,473,000	1,006,273,000	701,160,000	625,223,000	584,158,000	308,060,000	250,531,000	323,821,000	311,690,000	475,286,000	339,824,000	186,519,000	149,734,000	114,246,000	123,353,000	191,430,000	170,278,000	96,300,000	65,700,000	44,400,000	37,900,000
Short-Term Debt Margin	14.02%	13.79%	17.10%	18.43%	18.50%	18.30%	17.93%	13.85%	15.06%	13.14%	12.30%	14.57%	20.97%	21.88%	19.96%	18.79%	20.49%	21.29%	20.72%	20.23%	22.64%	20.57%	20.22%	19.57%	15.35%	20.22%	18.22%	17.03%	18.36%	15.09%	15.73%	21.33%	21.06%	15.71%	16.45%	12.92%	14.12%
Tax Payables	2,257,000	1,354,200	677,100	451,400	338,550	270,840	225,700	0	6,771,000	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
Tax Payables Margin	0.03%	0.02%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	36,583,667	21,950,200	21,414,000	21,155,867	15,866,900	13,830,080	11,525,067	109,751,000	0	0	0	0	0	36,183,000	27,350,000	18,418,000	22,438,000	44,879,000	58,319,000	0	0	0	0	0	0	0	0	0	0	28,414,000	0	0	0	0	0	0	0
Deferred Revenue Margin	0.47%	0.28%	0.35%	0.41%	0.31%	0.40%	0.33%	1.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.66%	0.58%	0.44%	0.45%	0.95%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	197,817,667	180,870,600	95,989,000	63,261,267	46,986,750	39,181,560	36,242,667	160,809,000	311,104,000	121,540,000	84,861,000	226,039,000	155,085,000	-34,462,000	-29,038,000	-11,266,000	-24,782,000	-2,971,000	-18,536,000	18,507,000	0	-7,971,000	-5,730,000	-3,454,000	0	0	0	0	0	22,395,000	0	17,409,000	41,241,000	30,800,000	18,000,000	8,500,000	9,200,000
Other Current Liabilities Margin	2.57%	2.83%	1.48%	0.95%	0.68%	0.74%	1.30%	2.06%	3.93%	1.71%	1.66%	4.77%	2.67%	-0.63%	-0.62%	-0.27%	-0.50%	-0.06%	-0.55%	0.60%	0.00%	-0.53%	-0.46%	-0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	2.96%	0.00%	1.94%	5.10%	5.03%	4.51%	2.47%	3.43%
Total Current Liabilities	1,584,034,333	1,356,480,200	1,319,545,900	1,159,567,333	975,638,500	820,622,840	702,436,667	1,650,119,000	1,673,310,000	1,428,674,000	1,003,504,000	1,026,794,000	1,507,389,000	1,493,295,000	1,172,207,000	993,130,000	1,247,037,000	1,274,610,000	929,175,000	788,446,000	790,791,000	415,029,000	313,801,000	404,476,000	412,659,000	574,022,000	414,302,000	242,984,000	195,000,000	180,137,000	161,684,000	222,996,000	221,229,000	134,000,000	89,500,000	58,100,000	54,700,000
Total Current Liabilities Margin	20.79%	20.73%	23.02%	24.56%	24.26%	24.02%	23.65%	21.14%	21.11%	20.12%	19.58%	21.68%	25.95%	27.12%	24.87%	23.56%	25.04%	26.96%	27.45%	25.51%	30.64%	27.71%	25.32%	24.44%	20.32%	24.42%	22.22%	22.19%	23.92%	23.79%	20.62%	24.85%	27.37%	21.87%	22.41%	16.90%	20.37%
Long-Term Debt	365,958,333	364,156,600	413,403,700	381,538,000	324,743,000	274,929,520	234,021,733	408,440,000	414,002,000	275,433,000	334,926,000	387,982,000	438,413,000	439,218,000	466,389,000	472,503,000	496,731,000	429,189,000	385,538,000	319,634,000	264,822,000	189,850,000	153,957,000	172,011,000	165,352,000	166,125,000	114,345,000	79,973,000	66,261,000	69,958,000	82,579,000	79,607,000	65,414,000	32,200,000	22,700,000	13,400,000	13,700,000
Long-Term Debt Margin	4.78%	5.81%	7.57%	8.63%	8.68%	8.71%	8.19%	5.23%	5.22%	3.88%	6.53%	8.19%	7.55%	7.98%	9.89%	11.21%	9.98%	9.08%	11.39%	10.34%	10.26%	12.67%	12.42%	10.39%	8.14%	7.07%	6.13%	7.30%	8.13%	9.24%	10.53%	8.87%	8.09%	5.25%	5.68%	3.90%	5.10%
Capital Lease Obligations	224,435,333	200,360,600	143,934,900	111,986,333	88,406,550	70,725,240	58,937,700	244,451,000	202,131,000	226,724,000	186,602,000	141,895,000	117,033,000	69,114,000	83,141,000	84,493,000	83,765,000	57,250,000	45,467,000	49,973,000	45,554,000	42,202,000	34,444,000	11,366,000	13,099,000	14,799,000	14,628,000	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	2.96%	3.10%	2.42%	2.20%	1.93%	1.54%	1.28%	3.13%	2.55%	3.19%	3.64%	3.00%	2.01%	1.26%	1.76%	2.00%	1.68%	1.21%	1.34%	1.62%	1.77%	2.82%	2.78%	0.69%	0.65%	0.63%	0.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	112,829,000	92,985,200	129,216,000	126,402,400	105,081,550	86,961,480	72,734,600	178,916,000	159,571,000	0	0	126,439,000	164,297,000	141,308,000	135,311,000	197,331,000	188,987,000	175,635,000	147,822,000	123,756,000	93,123,000	63,540,000	54,600,000	52,896,000	40,904,000	33,856,000	23,339,000	20,169,000	16,911,000	14,720,000	12,512,000	8,094,000	4,201,000	1,600,000	1,200,000	1,000,000	0
Deferred Tax Liabilities Margin	1.44%	1.40%	2.37%	2.91%	2.80%	2.57%	2.19%	2.29%	2.01%	0.00%	0.00%	2.67%	2.83%	2.57%	2.87%	4.68%	3.80%	3.72%	4.37%	4.00%	3.61%	4.24%	4.41%	3.20%	2.01%	1.44%	1.25%	1.84%	2.07%	1.94%	1.60%	0.90%	0.52%	0.26%	0.30%	0.29%	0.00%
Other Non-Current Liabilities	74,765,333	85,105,800	47,968,400	32,927,866	24,695,900	19,756,640	16,463,867	28,060,000	24,810,999	171,425,000	166,987,000	34,245,999	20,703,999	11,118,000	9,837,000	7,214,000	5,282,000	4,470,000	4,683,000	2,484,000	2,233,000	364,000	0	0	0	0	0	0	0	0	-2,000	0	0	0	0	0	0
Other Non-Current Liabilities Margin	1.03%	1.41%	0.81%	0.57%	0.43%	0.34%	0.28%	0.36%	0.31%	2.41%	3.26%	0.72%	0.36%	0.20%	0.21%	0.17%	0.11%	0.09%	0.14%	0.08%	0.09%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Liabilities	745,136,666	715,139,200	714,199,500	635,959,000	529,968,800	442,006,320	373,519,100	805,525,000	800,514,999	629,370,000	649,724,000	690,561,999	740,446,999	641,127,000	677,559,000	747,092,000	760,074,000	655,313,000	573,242,000	485,174,000	395,676,000	287,985,000	237,271,000	236,273,000	219,355,000	214,780,000	152,312,000	100,142,000	83,172,000	84,678,000	95,089,000	87,701,000	69,615,000	33,800,000	23,900,000	14,400,000	13,700,000
Total Non-Current Liabilities Margin	9.76%	11.31%	12.83%	13.96%	13.54%	12.93%	11.76%	10.32%	10.10%	8.86%	12.67%	14.58%	12.74%	11.64%	14.37%	17.73%	15.26%	13.86%	16.94%	15.70%	15.33%	19.23%	19.15%	14.28%	10.80%	9.14%	8.17%	9.15%	10.20%	11.18%	12.12%	9.77%	8.61%	5.52%	5.98%	4.19%	5.10%
Total Liabilities	2,329,171,000	2,071,619,400	2,033,745,400	1,795,526,333	1,505,607,300	1,262,629,160	1,075,955,767	2,455,644,000	2,473,825,000	2,058,044,000	1,653,228,000	1,717,356,000	2,247,836,000	2,134,422,000	1,849,766,000	1,740,222,000	2,007,111,000	1,929,923,000	1,502,417,000	1,273,620,000	1,186,467,000	703,014,000	551,072,000	640,749,000	632,014,000	788,802,000	566,614,000	343,126,000	278,172,000	264,815,000	256,773,000	310,697,000	290,844,000	167,800,000	113,400,000	72,500,000	68,400,000
Total Liabilities Margin	30.55%	32.03%	35.85%	38.52%	37.80%	36.95%	35.41%	31.46%	31.22%	28.98%	32.25%	36.26%	38.69%	38.76%	39.24%	41.29%	40.31%	40.82%	44.39%	41.21%	45.98%	46.93%	44.47%	38.72%	31.12%	33.56%	30.39%	31.34%	34.12%	34.98%	32.74%	34.62%	35.98%	27.38%	28.39%	21.09%	25.47%
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
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	734,000	663,200	556,100	506,133	462,350	396,240	332,533	824,000	806,000	572,000	563,000	551,000	465,000	458,000	454,000	438,000	430,000	424,000	414,000	404,000	398,000	391,000	388,000	386,000	383,000	251,000	247,000	239,000	140,000	140,000	70,000	70,000	70,000	0	0	0	0
Common Stock Margin	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.03%	0.03%	0.02%	0.02%	0.01%	0.01%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	1,508,992,000	1,278,081,600	1,045,107,900	831,496,133	673,957,100	548,643,280	459,670,300	1,698,614,000	1,450,025,000	1,378,337,000	1,031,582,000	831,850,000	1,065,553,000	942,287,000	812,557,000	640,428,000	599,846,000	533,793,000	453,836,000	404,619,000	342,164,000	286,951,000	255,669,000	249,785,000	220,920,000	169,556,000	110,770,000	66,145,000	49,229,000	40,400,000	42,214,000	38,952,000	35,627,000	19,500,000	8,700,000	3,300,000	6,900,000
Retained Earnings Margin	19.82%	19.43%	17.71%	16.49%	15.35%	13.37%	11.58%	21.76%	18.30%	19.41%	20.12%	17.56%	18.34%	17.11%	17.24%	15.20%	12.05%	11.29%	13.41%	13.09%	13.26%	19.16%	20.63%	15.09%	10.88%	7.21%	5.94%	6.04%	6.04%	5.34%	5.38%	4.34%	4.41%	3.18%	2.18%	0.96%	2.57%
Accumulated OCI	-5,195,333	-2,786,000	-110,545,800	-74,069,800	-81,554,300	-74,477,600	-63,520,700	-9,293,000	-2,163,000	-4,129,999	786,999	869,000	337,000	-576,345,000	-514,929,000	-286,000	-305,000	-460,000	-1,202,000	-1,756,000	-1,949,000	-222,000	-143,887,000	-124,597,000	-100,151,000	-80,707,000	-70,697,000	-59,352,000	-58,286,000	-47,889,000	-38,421,000	-26,906,000	-16,581,000	-10,600,000	-5,600,000	-6,600,000	-4,300,000
Accumulated OCI Margin	-0.07%	-0.03%	-2.16%	-1.45%	-2.65%	-3.19%	-2.95%	-0.12%	-0.03%	-0.06%	0.02%	0.02%	0.01%	-10.47%	-10.92%	-0.01%	-0.01%	-0.01%	-0.04%	-0.06%	-0.08%	-0.01%	-11.61%	-7.53%	-4.93%	-3.43%	-3.79%	-5.42%	-7.15%	-6.32%	-4.90%	-3.00%	-2.05%	-1.73%	-1.40%	-1.92%	-1.60%
Minority Interest	19,474,000	11,684,400	5,842,200	3,894,800	2,921,100	2,336,880	1,947,400	20,354,000	19,537,000	18,531,000	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
Minority Interest Margin	0.26%	0.15%	0.08%	0.05%	0.04%	0.03%	0.03%	0.26%	0.25%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 Shareholders’ Equity	1,918,973,000	1,698,341,000	1,346,622,100	1,100,002,667	917,755,550	756,237,360	637,339,533	2,141,549,000	1,870,879,000	1,744,491,000	1,466,749,000	1,268,037,000	1,159,493,000	1,066,928,000	1,040,373,000	862,825,000	844,897,000	764,339,000	665,381,000	607,946,000	531,234,000	464,919,000	426,225,000	416,041,000	399,577,000	339,608,000	273,620,000	222,807,000	88,706,000	79,695,000	81,438,000	78,177,000	74,852,000	52,900,000	42,100,000	36,700,000	7,700,000
Total Shareholders’ Equity Margin	25.20%	26.20%	22.98%	22.46%	22.26%	20.25%	18.27%	27.44%	23.61%	24.56%	28.61%	26.77%	19.96%	19.38%	22.07%	20.47%	16.97%	16.17%	19.66%	19.67%	20.59%	31.04%	34.39%	25.14%	19.68%	14.45%	14.67%	20.35%	10.88%	10.53%	10.38%	8.71%	9.26%	8.63%	10.54%	10.68%	2.87%
Total Equity	1,938,447,000	1,710,025,400	1,352,464,300	1,103,897,467	920,676,650	758,574,240	639,286,933	2,161,903,000	1,890,416,000	1,763,022,000	1,466,749,000	1,268,037,000	1,159,493,000	1,066,928,000	1,040,373,000	862,825,000	844,897,000	764,339,000	665,381,000	607,946,000	531,234,000	464,919,000	426,225,000	416,041,000	399,577,000	339,608,000	273,620,000	222,807,000	88,706,000	79,695,000	81,438,000	78,177,000	74,852,000	52,900,000	42,100,000	36,700,000	7,700,000
Total Equity Margin	25.46%	26.35%	23.06%	22.52%	22.30%	20.28%	18.30%	27.70%	23.85%	24.83%	28.61%	26.77%	19.96%	19.38%	22.07%	20.47%	16.97%	16.17%	19.66%	19.67%	20.59%	31.04%	34.39%	25.14%	19.68%	14.45%	14.67%	20.35%	10.88%	10.53%	10.38%	8.71%	9.26%	8.63%	10.54%	10.68%	2.87%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities & Equity Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	4,366,667	10,860,000	-7,081,400	-2,430,000	-2,127,700	-1,702,160	-1,418,467	4,700,000	8,400,000	0	0	41,200,000	34,900,000	-179,270,000	6,375,000	6,231,000	6,650,000	6,905,000	6,628,000	6,628,000	6,628,000	7,575,000	7,575,000	845,000	-7,028,000	-7,496,000	0	0	0	0	0	0	0	0	0	0	0
Total Investments Margin	0.06%	0.21%	-0.12%	0.01%	0.01%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.87%	0.60%	-3.26%	0.14%	0.15%	0.13%	0.15%	0.20%	0.21%	0.26%	0.51%	0.61%	0.05%	-0.35%	-0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt	1,455,328,000	1,255,590,600	1,356,916,700	1,173,983,867	969,580,900	811,168,280	691,843,167	1,505,959,000	1,625,709,000	1,234,316,000	1,004,113,000	907,856,000	1,592,433,000	1,561,580,000	1,348,689,000	1,267,081,000	1,521,431,000	1,290,018,000	904,592,000	796,057,000	686,759,000	363,165,000	284,107,000	364,241,000	303,132,000	494,652,000	335,728,000	108,317,000	181,606,000	159,441,000	186,080,000	252,145,000	215,688,000	106,000,000	68,600,000	36,300,000	49,500,000
Net Debt Margin	19.06%	19.19%	24.09%	24.77%	23.52%	23.02%	22.19%	19.30%	20.51%	17.38%	19.59%	19.17%	27.41%	28.36%	28.61%	30.06%	30.55%	27.29%	26.73%	25.76%	26.61%	24.24%	22.92%	22.01%	14.93%	21.04%	18.00%	9.89%	22.27%	21.06%	23.73%	28.10%	26.68%	17.30%	17.18%	10.56%	18.44%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	7,610,480,000	6,538,704,400	5,791,778,800	4,879,930,267	4,116,963,550	3,467,537,400	2,970,706,333	7,804,746,000	7,925,024,000	7,101,670,000	5,126,142,000	4,735,940,000	5,809,847,000	5,506,190,000	4,713,882,000	4,214,614,000	4,979,733,000	4,727,356,000	3,384,705,000	3,090,567,000	2,580,611,000	1,497,927,000	1,239,289,000	1,654,956,000	2,030,779,000	2,350,523,000	1,864,770,000	1,094,979,000	815,332,000	757,147,000	784,278,000	897,428,000	808,355,000	612,800,000	399,400,000	343,700,000	268,500,000
Working Capital	588,553,000	483,508,200	321,811,000	277,592,000	249,020,900	205,594,240	173,399,967	739,596,000	586,994,000	439,069,000	320,950,000	330,932,000	205,162,000	194,649,000	202,891,000	118,318,000	79,549,000	170,904,000	224,261,000	217,613,000	189,214,000	143,778,000	159,182,000	177,117,000	197,805,000	156,297,000	126,137,000	138,241,000	14,113,000	7,995,000	1,628,000	-2,539,000	2,843,000	15,700,000	18,300,000	24,700,000	600,000
Working Capital Margin	7.69%	7.26%	5.21%	5.75%	6.65%	5.93%	5.44%	9.48%	7.41%	6.18%	6.26%	6.99%	3.53%	3.54%	4.30%	2.81%	1.60%	3.62%	6.63%	7.04%	7.33%	9.60%	12.84%	10.70%	9.74%	6.65%	6.76%	12.62%	1.73%	1.06%	0.21%	-0.28%	0.35%	2.56%	4.58%	7.19%	0.22%
Total Capital	3,578,601,000	3,168,550,400	2,869,324,200	2,450,129,600	2,058,300,850	1,714,420,000	1,454,558,133	3,875,639,000	3,680,313,000	3,179,851,000	2,619,008,000	2,487,941,000	2,933,546,000	2,760,234,000	2,513,603,000	2,211,932,000	2,431,175,000	2,245,820,000	1,787,278,000	1,602,776,000	1,425,768,000	997,060,000	859,427,000	926,693,000	889,718,000	995,818,000	742,417,000	489,299,000	304,701,000	263,899,000	287,370,000	349,214,000	310,544,000	181,400,000	130,500,000	94,500,000	59,300,000
Total Capital Margin	46.96%	48.90%	49.97%	51.58%	51.25%	48.70%	45.59%	49.66%	46.44%	44.78%	51.09%	52.53%	50.49%	50.13%	53.32%	52.48%	48.82%	47.51%	52.80%	51.86%	55.25%	66.56%	69.35%	56.00%	43.81%	42.37%	39.81%	44.69%	37.37%	34.85%	36.64%	38.91%	38.42%	29.60%	32.67%	27.49%	22.09%
Capital Employed	2,683,583,667	2,425,164,600	2,066,663,800	1,739,856,467	1,450,645,450	1,200,580,560	1,012,806,033	2,967,428,000	2,690,931,000	2,392,392,000	2,116,473,000	1,958,599,000	1,899,940,000	1,708,055,000	1,717,932,000	1,609,917,000	1,604,971,000	1,419,652,000	1,238,623,000	1,093,120,000	926,910,000	752,904,000	663,496,000	652,314,000	618,932,000	554,388,000	425,932,000	322,949,000	171,878,000	164,373,000	176,527,000	165,878,000	144,467,000	86,700,000	66,000,000	51,100,000	21,400,000
Capital Employed Margin	35.22%	37.66%	35.89%	36.47%	35.85%	33.21%	30.05%	38.02%	33.95%	33.69%	41.29%	41.36%	32.70%	31.02%	36.44%	38.20%	32.23%	30.03%	36.59%	35.37%	35.92%	50.26%	53.54%	39.42%	30.48%	23.59%	22.84%	29.49%	21.08%	21.71%	22.51%	18.48%	17.87%	14.15%	16.52%	14.87%	7.97%
Invested Capital	3,374,301,000	2,953,931,600	2,703,538,800	2,273,986,533	1,887,336,450	1,567,405,640	1,329,182,700	3,647,508,000	3,496,588,000	2,978,807,000	2,470,862,000	2,175,893,000	2,751,926,000	2,628,508,000	2,389,062,000	2,129,906,000	2,366,328,000	2,054,357,000	1,569,973,000	1,404,003,000	1,217,993,000	828,084,000	710,332,000	780,282,000	702,709,000	834,260,000	609,348,000	331,124,000	270,312,000	239,136,000	267,518,000	330,322,000	290,540,000	158,900,000	110,700,000	73,000,000	57,200,000
Invested Capital Margin	44.27%	45.39%	47.08%	47.24%	45.79%	43.27%	40.46%	46.73%	44.12%	41.95%	48.20%	45.94%	47.37%	47.74%	50.68%	50.54%	47.52%	43.46%	46.38%	45.43%	47.20%	55.28%	57.32%	47.15%	34.60%	35.49%	32.68%	30.24%	33.15%	31.58%	34.11%	36.81%	35.94%	25.93%	27.72%	21.24%	21.30%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	7,610,480,000	6,538,704,400	5,791,778,800	4,879,930,267	4,116,963,550	3,467,537,400	2,970,706,333	7,804,746,000	7,925,024,000	7,101,670,000	5,126,142,000	4,735,940,000	5,809,847,000	5,506,190,000	4,713,882,000	4,214,614,000	4,979,733,000	4,727,356,000	3,384,705,000	3,090,567,000	2,580,611,000	1,497,927,000	1,239,289,000	1,654,956,000	2,030,779,000	2,350,523,000	1,864,770,000	1,094,979,000	815,332,000	757,147,000	784,278,000	897,428,000	808,355,000	612,800,000	399,400,000	343,700,000	268,500,000
Net Income	348,036,667	280,082,400	195,982,100	149,196,333	121,379,850	98,781,520	83,870,133	304,970,000	347,055,000	392,085,000	241,415,000	114,887,000	141,583,000	139,062,000	172,129,000	40,582,000	66,053,000	79,957,000	49,217,000	62,455,000	55,213,000	31,282,000	5,884,000	28,865,000	51,492,000	58,786,000	44,625,000	17,176,000	9,450,000	8,728,000	3,262,000	3,325,000	16,166,000	10,800,000	5,400,000	6,200,000	8,000,000
Net Income Margin	4.60%	4.19%	3.18%	2.75%	2.54%	2.22%	2.18%	3.91%	4.38%	5.52%	4.71%	2.43%	2.44%	2.53%	3.65%	0.96%	1.33%	1.69%	1.45%	2.02%	2.14%	2.09%	0.47%	1.74%	2.54%	2.50%	2.39%	1.57%	1.16%	1.15%	0.42%	0.37%	2.00%	1.76%	1.35%	1.80%	2.98%
Depreciation & Amortization	218,797,000	200,647,000	182,435,400	148,029,000	119,176,150	98,422,760	82,701,633	236,101,000	221,141,000	199,149,000	169,497,000	177,347,000	175,484,000	185,122,000	157,951,000	157,627,000	144,935,000	126,452,000	93,486,000	73,289,000	56,934,000	45,920,000	40,698,000	38,508,000	35,798,000	27,074,000	21,010,000	15,923,000	15,542,000	15,846,000	16,156,000	13,579,000	8,380,000	4,800,000	3,000,000	2,400,000	1,900,000
Depreciation & Amortization Margin	2.87%	3.13%	3.21%	3.01%	2.74%	2.55%	2.26%	3.03%	2.79%	2.80%	3.31%	3.74%	3.02%	3.36%	3.35%	3.74%	2.91%	2.67%	2.76%	2.37%	2.21%	3.07%	3.28%	2.33%	1.76%	1.15%	1.13%	1.45%	1.91%	2.09%	2.06%	1.51%	1.04%	0.78%	0.75%	0.70%	0.71%
Deferred Income Tax	10,557,333	1,569,600	1,460,700	8,598,400	7,580,950	6,624,600	5,662,600	19,810,000	7,601,000	4,261,000	14,034,000	-37,858,000	22,989,000	5,997,000	-62,203,000	8,331,000	31,645,000	25,229,000	22,081,000	28,164,000	28,680,000	10,215,000	-2,980,000	9,944,000	7,516,000	6,877,000	1,286,000	4,149,000	3,703,000	-659,000	2,910,000	3,893,000	2,563,000	500,000	200,000	1,000,000	0
Deferred Income Tax Margin	0.14%	-0.02%	-0.01%	0.25%	0.24%	0.26%	0.24%	0.25%	0.10%	0.06%	0.27%	-0.80%	0.40%	0.11%	-1.32%	0.20%	0.64%	0.53%	0.65%	0.91%	1.11%	0.68%	-0.24%	0.60%	0.37%	0.29%	0.07%	0.38%	0.45%	-0.09%	0.37%	0.43%	0.32%	0.08%	0.05%	0.29%	0.00%
Stock-Based Compensation	28,673,000	25,524,200	20,555,000	16,201,400	12,820,300	10,256,240	8,546,867	30,350,000	30,354,000	25,315,000	22,246,000	19,356,000	19,005,000	18,059,000	15,606,000	12,875,000	12,384,000	11,343,000	8,645,000	7,332,000	5,683,000	4,468,000	3,664,000	3,632,000	3,442,000	2,647,000	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.38%	0.39%	0.35%	0.32%	0.28%	0.22%	0.19%	0.39%	0.38%	0.36%	0.43%	0.41%	0.33%	0.33%	0.33%	0.31%	0.25%	0.24%	0.26%	0.24%	0.22%	0.30%	0.30%	0.22%	0.17%	0.11%	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	-193,633,333	-20,556,400	-3,915,800	-25,169,800	-16,400,050	-12,729,560	-13,713,833	29,128,000	-310,601,000	-299,427,000	-17,803,000	495,921,000	60,733,000	-132,579,000	-130,851,000	294,969,000	-28,648,000	-150,686,000	2,630,000	49,940,000	-225,833,000	-14,440,000	102,998,000	3,177,000	162,931,000	-99,072,000	-120,488,000	-44,593,000	-10,299,000	-8,890,000	68,294,000	5,250,000	-54,776,000	-15,300,000	1,100,000	-9,500,000	-14,700,000
Change in Working Capital Margin	-2.59%	0.47%	0.46%	-0.44%	-0.04%	0.08%	-0.51%	0.37%	-3.92%	-4.22%	-0.35%	10.47%	1.05%	-2.41%	-2.78%	7.00%	-0.58%	-3.19%	0.08%	1.62%	-8.75%	-0.96%	8.31%	0.19%	8.02%	-4.21%	-6.46%	-4.07%	-1.26%	-1.17%	8.71%	0.59%	-6.78%	-2.50%	0.28%	-2.76%	-5.47%
Accounts Receivable	-53,901,667	-23,634,000	-12,191,500	-15,730,400	-10,440,800	-8,352,640	-6,960,533	-87,098,000	0	-74,607,000	32,312,000	11,223,000	19,831,000	-7,746,000	-29,424,000	1,673,000	11,921,000	-67,664,000	-10,358,000	14,184,000	-49,986,000	-217,000	16,405,000	-4,821,000	25,689,000	-10,133,000	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	-0.72%	-0.26%	-0.14%	-0.31%	-0.14%	-0.11%	-0.09%	-1.12%	0.00%	-1.05%	0.63%	0.24%	0.34%	-0.14%	-0.62%	0.04%	0.24%	-1.43%	-0.31%	0.46%	-1.94%	-0.01%	1.32%	-0.29%	1.26%	-0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	-79,812,333	52,734,600	25,333,900	-16,662,400	-9,988,000	-8,512,880	-10,068,700	85,071,000	0	-324,508,000	-33,572,000	536,682,000	81,722,000	-255,040,000	-147,453,000	291,773,000	18,664,000	-151,911,000	-67,217,000	32,579,000	-268,178,000	-48,548,000	104,450,000	30,057,000	132,357,000	-114,380,000	-102,308,000	-49,692,000	-13,154,000	-12,741,000	65,084,000	-2,559,000	-46,739,000	-25,000,000	-6,700,000	-200,000	-10,600,000
Inventory Margin	-1.16%	1.44%	0.81%	-0.64%	-0.16%	-0.12%	-0.62%	1.09%	0.00%	-4.57%	-0.65%	11.33%	1.41%	-4.63%	-3.13%	6.92%	0.37%	-3.21%	-1.99%	1.05%	-10.39%	-3.24%	8.43%	1.82%	6.52%	-4.87%	-5.49%	-4.54%	-1.61%	-1.68%	8.30%	-0.29%	-5.78%	-4.08%	-1.68%	-0.06%	-3.95%
Accounts Payable	34,223,667	18,277,600	9,451,800	13,098,067	9,774,400	7,819,520	6,516,267	81,862,000	-10,629,000	31,438,000	12,053,000	-23,336,000	2,241,000	18,490,000	8,964,000	-22,411,000	-4,154,000	24,180,000	38,105,000	-29,000	24,366,000	15,331,000	-9,103,000	-8,922,000	3,003,000	14,039,000	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	0.45%	0.22%	0.10%	0.31%	0.21%	0.16%	0.14%	1.05%	-0.13%	0.44%	0.24%	-0.49%	0.04%	0.34%	0.19%	-0.53%	-0.08%	0.51%	1.13%	0.00%	0.94%	1.02%	-0.73%	-0.54%	0.15%	0.60%	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	-94,143,000	-67,934,600	-26,510,000	-5,875,067	-5,745,650	-3,683,560	-3,200,867	-50,707,000	-299,972,000	68,250,000	-28,596,000	-28,648,000	-43,061,000	111,717,000	37,062,000	23,934,000	-55,079,000	44,709,000	42,100,000	3,206,000	67,965,000	18,994,000	-8,754,000	-13,137,000	1,882,000	11,402,000	-18,180,000	5,099,000	2,855,000	3,851,000	3,210,000	7,809,000	-8,037,000	9,700,000	7,800,000	-9,300,000	-4,100,000
Other Working Capital Margin	-1.16%	-0.93%	-0.31%	0.21%	0.06%	0.15%	0.07%	-0.65%	-3.79%	0.96%	-0.56%	-0.60%	-0.74%	2.03%	0.79%	0.57%	-1.11%	0.95%	1.24%	0.10%	2.63%	1.27%	-0.71%	-0.79%	0.09%	0.49%	-0.97%	0.47%	0.35%	0.51%	0.41%	0.87%	-0.99%	1.58%	1.95%	-2.71%	-1.53%
Other Non-Cash Items	-9,209,667	-8,268,600	-3,239,000	-3,548,067	-2,925,100	-2,416,000	-2,048,867	-809,000	163,000	-26,983,000	-7,043,000	-6,671,000	1,478,000	-297,000	105,000	6,786,000	881,000	-3,358,000	-2,571,000	-1,844,000	-2,046,000	-11,012,000	31,000	-1,067,000	-2,478,000	-3,174,000	1,407,000	1,703,000	-2,065,000	943,000	-1,614,000	-865,000	-166,000	-200,000	-100,000	0	-600,000
Other Non-Cash Items Margin	-0.13%	-0.13%	-0.05%	-0.10%	-0.09%	-0.08%	-0.08%	-0.01%	0.00%	-0.38%	-0.14%	-0.14%	0.03%	-0.01%	0.00%	0.16%	0.02%	-0.07%	-0.08%	-0.06%	-0.08%	-0.74%	0.00%	-0.06%	-0.12%	-0.14%	0.08%	0.16%	-0.25%	0.12%	-0.21%	-0.10%	-0.02%	-0.03%	-0.03%	0.00%	-0.22%
Net Cash from Operating Activities	403,221,000	478,998,200	393,278,400	293,307,267	241,632,100	198,939,560	165,008,533	619,550,000	295,713,000	294,400,000	422,346,000	762,982,000	421,272,000	215,364,000	152,737,000	521,170,000	227,250,000	88,937,000	173,488,000	219,336,000	-81,369,000	66,433,000	150,295,000	83,059,000	258,701,000	-6,862,000	-52,160,000	-5,642,000	16,331,000	15,968,000	89,008,000	25,182,000	-27,833,000	600,000	9,300,000	100,000	-5,400,000
Net Cash from Operating Activities Margin	5.27%	8.03%	7.15%	5.79%	5.68%	5.26%	4.28%	7.94%	3.73%	4.15%	8.24%	16.11%	7.25%	3.91%	3.24%	12.37%	4.56%	1.88%	5.13%	7.10%	-3.15%	4.43%	12.13%	5.02%	12.74%	-0.29%	-2.80%	-0.52%	2.00%	2.11%	11.35%	2.81%	-3.44%	0.10%	2.33%	0.03%	-2.01%
Capital Expenditures (PPE)	-348,329,333	-269,673,000	-265,479,000	-234,066,067	-193,840,500	-160,735,080	-137,840,067	-433,047,000	-368,881,000	-243,060,000	-167,177,000	-136,200,000	-293,493,000	-238,260,000	-209,917,000	-196,965,000	-367,790,000	-260,820,000	-191,584,000	-170,951,000	-148,543,000	-84,303,000	-50,485,000	-68,160,000	-65,268,000	-116,105,000	-65,801,000	-44,566,000	-18,772,000	-16,526,000	-20,730,000	-40,973,000	-60,325,000	-31,500,000	-10,200,000	-8,500,000	-6,300,000
Capital Expenditures (PPE) Margin	-4.54%	-3.95%	-4.57%	-4.92%	-4.68%	-4.38%	-4.31%	-5.55%	-4.65%	-3.42%	-3.26%	-2.88%	-5.05%	-4.33%	-4.45%	-4.67%	-7.39%	-5.52%	-5.66%	-5.53%	-5.76%	-5.63%	-4.07%	-4.12%	-3.21%	-4.94%	-3.53%	-4.07%	-2.30%	-2.18%	-2.64%	-4.57%	-7.46%	-5.14%	-2.55%	-2.47%	-2.35%
Acquisitions (Net)	-8,558,667	-59,001,600	-40,172,900	-58,036,600	-50,896,250	-41,287,440	-35,131,400	-16,364,000	-16,050,000	6,738,000	-269,332,000	0	-32,667,000	-2,180,000	-2,180,000	-681,000	-69,013,000	-157,626,000	-72,725,000	-104,571,000	-94,630,000	-39,268,000	0	-37,397,000	-7,866,000	-36,087,000	-66,026,000	-3,500,000	-5,547,000	0	-2,646,000	-2,568,000	-21,756,000	0	0	0	0
Acquisitions (Net) Margin	-0.11%	-1.11%	-0.76%	-1.52%	-1.52%	-1.28%	-1.16%	-0.21%	-0.20%	0.09%	-5.25%	0.00%	-0.56%	-0.04%	-0.05%	-0.02%	-1.39%	-3.33%	-2.15%	-3.38%	-3.67%	-2.62%	0.00%	-2.26%	-0.39%	-1.54%	-3.54%	-0.32%	-0.68%	0.00%	-0.34%	-0.29%	-2.69%	0.00%	0.00%	0.00%	0.00%
Purchases of Investments	0	0	578,700	402,400	-17,476,950	-13,981,560	-11,651,300	0	0	0	0	0	-22,499,000	8,505,000	3,968,000	12,494,000	3,319,000	249,000	0	0	0	0	0	-355,575,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Purchases of Investments Margin	0.00%	0.00%	0.02%	0.01%	-1.06%	-0.85%	-0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.39%	0.15%	0.08%	0.30%	0.07%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	-21.49%	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%
Sales / Maturities of Investments	0	0	2,992,400	2,004,933	18,903,700	15,122,960	12,602,467	0	0	0	0	0	22,499,000	6,375,000	325,000	450,000	275,000	150,000	0	0	0	0	0	348,000,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Sales / Maturities of Investments Margin	0.00%	0.00%	0.05%	0.04%	1.08%	0.86%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.39%	0.12%	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	-957,667	1,894,800	700,300	2,847,400	3,323,500	3,861,320	2,058,200	3,834,000	-2,099,000	-4,608,000	3,604,000	8,743,000	5,704,000	-1,683,000	1,241,000	-4,708,000	-3,025,000	1,631,000	-5,359,000	1,225,000	11,347,000	26,864,000	727,000	2,089,000	5,628,000	6,997,000	8,318,000	13,232,000	7,488,000	4,875,000	1,841,000	2,627,000	-1,187,000	300,000	-35,900,000	400,000	1,600,000
Other Investing Activities Margin	-0.01%	0.04%	0.01%	0.15%	0.17%	0.27%	-0.05%	0.05%	-0.03%	-0.06%	0.07%	0.18%	0.10%	-0.03%	0.03%	-0.11%	-0.06%	0.03%	-0.16%	0.04%	0.44%	1.79%	0.06%	0.13%	0.28%	0.30%	0.45%	1.21%	0.92%	0.64%	0.23%	0.29%	-0.15%	0.05%	-8.99%	0.12%	0.60%
Net Cash from Investing Activities	-357,845,667	-326,779,800	-301,380,500	-286,847,933	-239,986,500	-197,019,800	-169,962,100	-445,577,000	-387,030,000	-240,930,000	-432,905,000	-127,457,000	-320,456,000	-227,243,000	-206,563,000	-189,410,000	-436,234,000	-416,416,000	-269,668,000	-274,297,000	-231,826,000	-96,707,000	-49,758,000	-111,043,000	-67,506,000	-145,195,000	-123,509,000	-34,834,000	-16,831,000	-11,651,000	-21,535,000	-40,914,000	-83,268,000	-31,200,000	-46,100,000	-8,100,000	-4,700,000
Net Cash from Investing Activities Margin	-4.66%	-5.02%	-5.24%	-6.23%	-6.02%	-5.38%	-5.52%	-5.71%	-4.88%	-3.39%	-8.45%	-2.69%	-5.52%	-4.13%	-4.38%	-4.49%	-8.76%	-8.81%	-7.97%	-8.88%	-8.98%	-6.46%	-4.02%	-6.71%	-3.32%	-6.18%	-6.62%	-3.18%	-2.06%	-1.54%	-2.75%	-4.56%	-10.30%	-5.09%	-11.54%	-2.36%	-1.75%
Net Debt Issuance	128,307,667	-36,688,400	-11,163,700	48,789,333	39,512,950	31,982,880	32,555,367	-73,328,000	325,262,000	132,989,000	-89,557,000	-478,808,000	18,070,000	145,028,000	107,337,000	-279,033,000	80,403,000	296,721,000	115,692,000	39,227,000	344,848,000	46,989,000	-98,313,000	3,576,000	-170,724,000	176,189,000	147,691,000	50,497,000	10,039,000	670,000	-66,513,000	14,620,000	108,589,000	33,200,000	35,100,000	-1,700,000	1,900,000
Net Debt Issuance Margin	1.68%	-1.36%	-0.66%	1.39%	1.01%	0.77%	1.57%	-0.94%	4.10%	1.87%	-1.75%	-10.11%	0.31%	2.63%	2.28%	-6.62%	1.61%	6.28%	3.42%	1.27%	13.36%	3.14%	-7.93%	0.22%	-8.41%	7.50%	7.92%	4.61%	1.23%	0.09%	-8.48%	1.63%	13.43%	5.42%	8.79%	-0.49%	0.71%
Long-Term Debt Issuance	55,094,000	-80,616,600	-11,947,600	48,288,333	52,151,350	40,314,840	39,498,667	-19,063,000	325,262,000	-140,917,000	-89,557,000	-478,808,000	18,070,000	145,028,000	107,337,000	-67,231,000	80,403,000	296,721,000	115,692,000	39,227,000	344,993,000	47,168,000	-4,867,000	-2,288,000	1,977,000	176,189,000	147,691,000	6,028,000	10,039,000	670,000	-66,513,000	14,620,000	108,589,000	33,200,000	35,100,000	-1,700,000	1,900,000
Long-Term Debt Issuance Margin	0.63%	-2.00%	-0.47%	1.52%	1.89%	1.31%	2.02%	-0.24%	4.10%	-1.98%	-1.75%	-10.11%	0.31%	2.63%	2.28%	-1.60%	1.61%	6.28%	3.42%	1.27%	13.37%	3.15%	-0.39%	-0.14%	0.10%	7.50%	7.92%	0.55%	1.23%	0.09%	-8.48%	1.63%	13.43%	5.42%	8.79%	-0.49%	0.71%
Short-Term Debt Issuance	73,213,667	43,928,200	1,182,800	21,183,867	2,873,750	4,077,760	3,398,133	-54,265,000	0	273,906,000	0	0	0	0	0	-207,813,000	0	0	0	-20,677,000	282,883,000	43,724,000	-93,446,000	5,864,000	-172,701,000	0	0	44,469,000	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	1.05%	0.63%	-0.18%	0.76%	-0.21%	-0.01%	-0.01%	-0.70%	0.00%	3.86%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.93%	0.00%	0.00%	0.00%	-0.67%	10.96%	2.92%	-7.54%	0.35%	-8.50%	0.00%	0.00%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	-109,416,667	-77,342,200	-62,829,900	-41,990,333	-31,886,900	-20,949,400	-16,411,167	-15,746,000	-218,795,000	-93,709,000	-33,596,000	-24,865,000	-49,944,000	-116,632,000	-33,800,000	-43,514,000	2,302,000	-291,000	-3,546,000	0	0	2,281,000	827,000	-16,824,000	2,796,000	2,206,000	3,112,000	113,821,000	182,000	0	0	0	0	0	0	31,400,000	0
Net Stock Issuance Margin	-1.43%	-1.09%	-1.01%	-0.67%	-0.53%	-0.01%	0.30%	-0.20%	-2.76%	-1.32%	-0.66%	-0.53%	-0.86%	-2.12%	-0.72%	-1.03%	0.05%	-0.01%	-0.10%	0.00%	0.00%	0.15%	0.07%	-1.02%	0.14%	0.09%	0.17%	10.39%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.14%	0.00%
Common Stock Issuance	0	0	1,202,600	3,078,533	2,815,700	6,812,680	6,723,900	0	0	0	0	0	0	0	0	8,260,000	3,766,000	11,962,000	9,327,000	5,064,000	5,518,000	2,281,000	827,000	1,124,000	2,796,000	2,206,000	3,183,000	113,821,000	182,000	0	0	0	0	0	0	31,400,000	0
Common Stock Issuance Margin	0.00%	0.00%	0.03%	0.09%	0.09%	0.49%	0.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%	0.08%	0.25%	0.28%	0.16%	0.21%	0.15%	0.07%	0.07%	0.14%	0.09%	0.17%	10.39%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.14%	0.00%
Common Stock Repurchased	-107,077,667	-75,938,800	-63,721,800	-44,156,267	-34,018,150	-27,214,520	-22,678,767	-15,746,000	-211,778,000	-93,709,000	-33,596,000	-24,865,000	-58,188,000	-120,558,000	-33,800,000	-43,514,000	-1,464,000	-12,253,000	-12,873,000	0	0	0	0	-17,948,000	0	0	-71,000	0	0	0	0	0	0	0	0	0	0
Common Stock Repurchased Margin	-1.40%	-1.07%	-1.03%	-0.73%	-0.60%	-0.48%	-0.40%	-0.20%	-2.67%	-1.32%	-0.66%	-0.53%	-1.00%	-2.19%	-0.72%	-1.03%	-0.03%	-0.26%	-0.38%	0.00%	0.00%	0.00%	0.00%	-1.08%	0.00%	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	-2,339,000	-1,403,400	891,900	2,013,867	1,510,400	1,206,080	1,005,067	0	-7,017,000	0	0	0	8,244,000	3,926,000	0	0	3,766,000	11,962,000	9,327,000	0	0	0	0	0	0	0	0	-56,000	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	-0.03%	-0.02%	0.02%	0.05%	0.04%	0.03%	0.02%	0.00%	-0.09%	0.00%	0.00%	0.00%	0.14%	0.07%	0.00%	0.00%	0.08%	0.25%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-50,215,333	-42,833,400	-24,181,600	-16,121,067	-12,090,800	-9,672,640	-8,520,533	-55,508,000	-50,582,000	-44,556,000	-41,060,000	-22,461,000	-18,317,000	-9,332,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-10,200,000	-3,600,000
Net Dividends Paid Margin	-0.66%	-0.65%	-0.37%	-0.25%	-0.19%	-0.15%	-0.27%	-0.71%	-0.64%	-0.63%	-0.80%	-0.47%	-0.32%	-0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.97%	-1.34%
Common Dividends Paid	-50,215,333	-42,833,400	-24,181,600	-16,121,067	-12,090,800	-9,672,640	-8,520,533	-55,508,000	-50,582,000	-44,556,000	-41,060,000	-22,461,000	-18,317,000	-9,332,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-10,200,000	-3,600,000
Common Dividends Paid Margin	-0.66%	-0.65%	-0.37%	-0.25%	-0.19%	-0.15%	-0.27%	-0.71%	-0.64%	-0.63%	-0.80%	-0.47%	-0.32%	-0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.97%	-1.34%
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
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%
Other Financing Activities	12,641,333	13,966,200	9,953,300	8,137,933	6,321,550	5,048,160	4,910,133	15,261,000	18,077,000	4,586,000	10,870,000	21,037,000	-731,000	0	22,804,000	7,966,000	-337,000	5,207,000	2,566,000	6,732,000	7,146,000	885,000	-367,000	634,000	2,184,000	2,151,000	-240,000	-56,000	-95,000	-76,000	0	0	0	100,000	0	7,900,000	13,100,000
Other Financing Activities Margin	0.16%	0.23%	0.18%	0.17%	0.14%	0.11%	0.33%	0.20%	0.23%	0.06%	0.21%	0.44%	-0.01%	0.00%	0.48%	0.19%	-0.01%	0.11%	0.08%	0.22%	0.28%	0.06%	-0.03%	0.04%	0.11%	0.09%	-0.01%	-0.01%	-0.01%	-0.01%	0.00%	0.00%	0.00%	0.02%	0.00%	2.30%	4.88%
Net Cash from Financing Activities	-18,683,000	-142,897,800	-88,221,900	-1,184,133	1,856,800	6,409,000	12,533,800	-129,321,000	73,962,000	-690,000	-153,343,000	-505,097,000	-50,922,000	19,064,000	96,341,000	-314,581,000	82,368,000	301,637,000	114,712,000	45,959,000	351,994,000	50,155,000	-97,853,000	-12,614,000	-165,744,000	180,546,000	150,563,000	164,262,000	10,126,000	594,000	-66,513,000	14,620,000	108,589,000	33,300,000	35,100,000	27,400,000	11,400,000
Net Cash from Financing Activities Margin	-0.24%	-2.88%	-1.87%	0.64%	0.42%	0.72%	1.93%	-1.66%	0.93%	-0.01%	-2.99%	-10.67%	-0.88%	0.35%	2.04%	-7.46%	1.65%	6.38%	3.39%	1.49%	13.64%	3.35%	-7.90%	-0.76%	-8.16%	7.68%	8.07%	15.00%	1.24%	0.08%	-8.48%	1.63%	13.43%	5.43%	8.79%	7.97%	4.25%
Effect of FX on Cash	-30,667	-18,400	-9,200	-6,133	-4,600	-3,680	-3,067	-246,000	36,000	118,000	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
Effect of FX on Cash Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Change in Cash	26,661,667	9,302,200	3,666,800	5,269,067	3,497,800	8,325,080	7,577,167	44,406,000	-17,319,000	52,898,000	-163,902,000	130,428,000	49,894,000	7,185,000	42,515,000	17,179,000	-126,616,000	-25,842,000	18,532,000	-9,002,000	38,799,000	19,881,000	2,684,000	-40,598,000	25,451,000	28,489,000	-25,106,000	123,786,000	9,626,000	4,911,000	960,000	-1,112,000	-2,512,000	2,700,000	-1,700,000	19,400,000	1,300,000
Net Change in Cash Margin	0.37%	0.13%	0.04%	0.20%	0.09%	0.60%	0.69%	0.57%	-0.22%	0.74%	-3.20%	2.75%	0.86%	0.13%	0.90%	0.41%	-2.54%	-0.55%	0.55%	-0.29%	1.50%	1.33%	0.22%	-2.45%	1.25%	1.21%	-1.35%	11.30%	1.18%	0.65%	0.12%	-0.12%	-0.31%	0.44%	-0.43%	5.64%	0.48%
Cash at Beginning of Period	177,638,333	205,316,600	162,118,600	170,874,000	167,466,600	138,689,280	117,801,600	183,725,000	201,044,000	148,146,000	312,048,000	181,620,000	131,726,000	124,541,000	82,026,000	64,847,000	191,463,000	217,305,000	198,773,000	207,775,000	168,976,000	149,095,000	146,411,000	187,009,000	161,558,000	133,069,000	158,175,000	34,389,000	24,763,000	19,852,000	18,892,000	20,004,000	22,516,000	19,800,000	21,500,000	2,100,000	900,000
Cash at Beginning of Period Margin	2.33%	3.38%	2.86%	4.15%	5.37%	4.84%	4.44%	2.35%	2.54%	2.09%	6.09%	3.83%	2.27%	2.26%	1.74%	1.54%	3.84%	4.60%	5.87%	6.72%	6.55%	9.95%	11.81%	11.30%	7.96%	5.66%	8.48%	3.14%	3.04%	2.62%	2.41%	2.23%	2.79%	3.23%	5.38%	0.61%	0.34%
Cash at End of Period	204,300,000	214,618,800	165,785,400	176,143,067	170,964,400	147,014,360	125,378,767	228,131,000	183,725,000	201,044,000	148,146,000	312,048,000	181,620,000	131,726,000	124,541,000	82,026,000	64,847,000	191,463,000	217,305,000	198,773,000	207,775,000	168,976,000	149,095,000	146,411,000	187,009,000	161,558,000	133,069,000	158,175,000	34,389,000	24,763,000	19,852,000	18,892,000	20,004,000	22,500,000	19,800,000	21,500,000	2,200,000
Cash at End of Period Margin	2.69%	3.51%	2.90%	4.35%	5.46%	5.43%	5.13%	2.92%	2.32%	2.83%	2.89%	6.59%	3.13%	2.39%	2.64%	1.95%	1.30%	4.05%	6.42%	6.43%	8.05%	11.28%	12.03%	8.85%	9.21%	6.87%	7.14%	14.45%	4.22%	3.27%	2.53%	2.11%	2.47%	3.67%	4.96%	6.26%	0.82%
Operating Cash Flow	403,221,000	478,998,200	393,278,400	293,307,267	241,632,100	198,939,560	165,008,533	619,550,000	295,713,000	294,400,000	422,346,000	762,982,000	421,272,000	215,364,000	152,737,000	521,170,000	227,250,000	88,937,000	173,488,000	219,336,000	-81,369,000	66,433,000	150,295,000	83,059,000	258,701,000	-6,862,000	-52,160,000	-5,642,000	16,331,000	15,968,000	89,008,000	25,182,000	-27,833,000	600,000	9,300,000	100,000	-5,400,000
Operating Cash Flow Margin	5.27%	8.03%	7.15%	5.79%	5.68%	5.26%	4.28%	7.94%	3.73%	4.15%	8.24%	16.11%	7.25%	3.91%	3.24%	12.37%	4.56%	1.88%	5.13%	7.10%	-3.15%	4.43%	12.13%	5.02%	12.74%	-0.29%	-2.80%	-0.52%	2.00%	2.11%	11.35%	2.81%	-3.44%	0.10%	2.33%	0.03%	-2.01%
Capital Expenditure	-348,329,333	-269,673,000	-265,479,000	-234,066,067	-193,840,500	-160,735,080	-137,840,067	-433,047,000	-368,881,000	-243,060,000	-167,177,000	-136,200,000	-293,493,000	-238,260,000	-209,917,000	-196,965,000	-367,790,000	-260,820,000	-191,584,000	-170,951,000	-148,543,000	-84,303,000	-50,485,000	-68,160,000	-65,268,000	-116,105,000	-65,801,000	-44,566,000	-18,772,000	-16,526,000	-20,730,000	-40,973,000	-60,325,000	-31,500,000	-10,200,000	-8,500,000	-6,300,000
Capital Expenditure Margin	-4.54%	-3.95%	-4.57%	-4.92%	-4.68%	-4.38%	-4.31%	-5.55%	-4.65%	-3.42%	-3.26%	-2.88%	-5.05%	-4.33%	-4.45%	-4.67%	-7.39%	-5.52%	-5.66%	-5.53%	-5.76%	-5.63%	-4.07%	-4.12%	-3.21%	-4.94%	-3.53%	-4.07%	-2.30%	-2.18%	-2.64%	-4.57%	-7.46%	-5.14%	-2.55%	-2.47%	-2.35%
Free Cash Flow	54,891,667	209,325,200	127,799,400	59,241,200	47,791,600	38,204,480	27,168,467	186,503,000	-73,168,000	51,340,000	255,169,000	626,782,000	127,779,000	-22,896,000	-57,180,000	324,205,000	-140,540,000	-171,883,000	-18,096,000	48,385,000	-229,912,000	-17,870,000	99,810,000	14,899,000	193,433,000	-122,967,000	-117,961,000	-50,208,000	-2,441,000	-558,000	68,278,000	-15,791,000	-88,158,000	-30,900,000	-900,000	-8,400,000	-11,700,000
Free Cash Flow Margin	0.73%	4.08%	2.58%	0.88%	1.00%	0.88%	-0.03%	2.39%	-0.92%	0.72%	4.98%	13.23%	2.20%	-0.42%	-1.21%	7.69%	-2.82%	-3.64%	-0.53%	1.57%	-8.91%	-1.19%	8.05%	0.90%	9.53%	-5.23%	-6.33%	-4.59%	-0.30%	-0.07%	8.71%	-1.76%	-10.91%	-5.04%	-0.23%	-2.44%	-4.36%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Revenue	7,610,480,000	6,538,704,400	5,791,778,800	4,879,930,267	4,116,963,550	3,467,537,400	2,970,706,333	7,804,746,000	7,925,024,000	7,101,670,000	5,126,142,000	4,735,940,000	5,809,847,000	5,506,190,000	4,713,882,000	4,214,614,000	4,979,733,000	4,727,356,000	3,384,705,000	3,090,567,000	2,580,611,000	1,497,927,000	1,239,289,000	1,654,956,000	2,030,779,000	2,350,523,000	1,864,770,000	1,094,979,000	815,332,000	757,147,000	784,278,000	897,428,000	808,355,000	612,800,000	399,400,000	343,700,000	268,500,000
EBITDA	715,214,333	592,308,200	456,119,400	362,721,800	297,511,300	245,578,280	208,375,500	705,940,000	736,896,000	702,807,000	477,101,000	338,797,000	391,991,000	389,349,000	306,765,000	244,847,000	266,701,000	264,836,000	185,281,000	187,510,000	154,292,000	87,714,000	48,369,000	87,416,000	132,270,000	136,796,000	104,548,000	49,999,000	35,656,000	36,736,000	32,172,000	34,668,000	43,508,000	28,800,000	14,200,000	14,000,000	11,300,000
EBITDA Margin	9.41%	8.94%	7.62%	7.01%	6.61%	6.16%	5.87%	9.05%	9.30%	9.90%	9.31%	7.15%	6.75%	7.07%	6.51%	5.81%	5.36%	5.60%	5.47%	6.07%	5.98%	5.86%	3.90%	5.28%	6.51%	5.82%	5.61%	4.57%	4.37%	4.85%	4.10%	3.86%	5.38%	4.70%	3.56%	4.07%	4.21%
(-) Tax Adjustment	169,448,043	140,103,187	101,166,885	89,802,028	73,881,432	62,137,754	53,051,373	164,757,486	181,807,476	161,779,168	109,917,130	82,254,677	99,154,448	93,755,037	-80,357,726	95,313,057	103,288,097	102,625,142	72,785,781	71,769,836	59,823,076	28,357,735	-40,127,019	31,451,690	49,009,849	51,298,864	38,964,845	20,128,293	14,262,400	14,693,390	12,866,433	13,864,697	17,402,877	11,520,000	5,386,207	3,788,235	0
(-) Tax Adjustment Margin	2.23%	2.11%	1.66%	1.83%	1.64%	1.66%	1.60%	2.11%	2.29%	2.28%	2.14%	1.74%	1.71%	1.70%	-1.70%	2.26%	2.07%	2.17%	2.15%	2.32%	2.32%	1.89%	-3.24%	1.90%	2.41%	2.18%	2.09%	1.84%	1.75%	1.94%	1.64%	1.54%	2.15%	1.88%	1.35%	1.10%	0.00%
(-) Change In Working Capital	-193,633,333	-20,556,400	-3,915,800	-25,169,800	-16,400,050	-12,729,560	-13,713,833	29,128,000	-310,601,000	-299,427,000	-17,803,000	495,921,000	60,733,000	-132,579,000	-130,851,000	294,969,000	-28,648,000	-150,686,000	2,630,000	49,940,000	-225,833,000	-14,440,000	102,998,000	3,177,000	162,931,000	-99,072,000	-120,488,000	-44,593,000	-10,299,000	-8,890,000	68,294,000	5,250,000	-54,776,000	-15,300,000	1,100,000	-9,500,000	-14,700,000
(-) Change In Working Capital Margin	-2.59%	0.47%	0.46%	-0.44%	-0.04%	0.08%	-0.51%	0.37%	-3.92%	-4.22%	-0.35%	10.47%	1.05%	-2.41%	-2.78%	7.00%	-0.58%	-3.19%	0.08%	1.62%	-8.75%	-0.96%	8.31%	0.19%	8.02%	-4.21%	-6.46%	-4.07%	-1.26%	-1.17%	8.71%	0.59%	-6.78%	-2.50%	0.28%	-2.76%	-5.47%
(-) Capital Expenditure	-348,329,333	-269,673,000	-265,479,000	-234,066,067	-193,840,500	-160,735,080	-137,840,067	-433,047,000	-368,881,000	-243,060,000	-167,177,000	-136,200,000	-293,493,000	-238,260,000	-209,917,000	-196,965,000	-367,790,000	-260,820,000	-191,584,000	-170,951,000	-148,543,000	-84,303,000	-50,485,000	-68,160,000	-65,268,000	-116,105,000	-65,801,000	-44,566,000	-18,772,000	-16,526,000	-20,730,000	-40,973,000	-60,325,000	-31,500,000	-10,200,000	-8,500,000	-6,300,000
(-) Capital Expenditure Margin	-4.54%	-3.95%	-4.57%	-4.92%	-4.68%	-4.38%	-4.31%	-5.55%	-4.65%	-3.42%	-3.26%	-2.88%	-5.05%	-4.33%	-4.45%	-4.67%	-7.39%	-5.52%	-5.66%	-5.53%	-5.76%	-5.63%	-4.07%	-4.12%	-3.21%	-4.94%	-3.53%	-4.07%	-2.30%	-2.18%	-2.64%	-4.57%	-7.46%	-5.14%	-2.55%	-2.47%	-2.35%
Unlevered Free Cash Flow	391,070,290	203,088,413	93,389,315	64,023,505	46,189,418	35,435,006	31,197,894	79,007,514	496,808,524	597,394,832	217,809,870	-375,578,677	-61,389,448	189,912,963	308,056,726	-342,400,057	-175,729,097	52,076,858	-81,718,781	-105,150,836	171,758,924	-10,506,735	-64,986,981	-15,372,690	-144,938,849	68,464,136	120,270,155	29,897,707	12,920,600	14,406,610	-69,718,433	-25,419,697	20,556,123	1,080,000	-2,486,207	11,211,765	19,700,000
Unlevered Free Cash Flow Margin	5.23%	2.40%	0.93%	0.70%	0.33%	0.04%	0.46%	1.01%	6.27%	8.41%	4.25%	-7.93%	-1.06%	3.45%	6.54%	-8.12%	-3.53%	1.10%	-2.41%	-3.40%	6.66%	-0.70%	-5.24%	-0.93%	-7.14%	2.91%	6.45%	2.73%	1.58%	1.90%	-8.89%	-2.83%	2.54%	0.18%	-0.62%	3.26%	7.34%
(-) Net Interest Income After Taxes	-36,301,255	-23,418,305	-18,606,468	-14,364,275	-11,994,860	-9,595,888	-7,996,573	-54,320,637	-39,861,282	-14,721,846	-1,362,218	-6,825,540	-21,520,245	-14,942,585	-15,534,630	-8,720,528	-8,255,170	-6,858,725	-6,492,362	-8,034,717	-4,384,492	-3,629,154	-10,419,583	-4,628,695	-9,384,786	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	-0.47%	-0.32%	-0.29%	-0.26%	-0.28%	-0.22%	-0.18%	-0.70%	-0.50%	-0.21%	-0.03%	-0.14%	-0.37%	-0.27%	-0.33%	-0.21%	-0.17%	-0.15%	-0.19%	-0.26%	-0.17%	-0.24%	-0.84%	-0.28%	-0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt Issuance	128,307,667	-36,688,400	-11,163,700	48,789,333	39,512,950	31,982,880	32,555,367	-73,328,000	325,262,000	132,989,000	-89,557,000	-478,808,000	18,070,000	145,028,000	107,337,000	-279,033,000	80,403,000	296,721,000	115,692,000	39,227,000	344,848,000	46,989,000	-98,313,000	3,576,000	-170,724,000	176,189,000	147,691,000	50,497,000	10,039,000	670,000	-66,513,000	14,620,000	108,589,000	33,200,000	35,100,000	-1,700,000	1,900,000
Net Debt Issuance Margin	1.68%	-1.36%	-0.66%	1.39%	1.01%	0.77%	1.57%	-0.94%	4.10%	1.87%	-1.75%	-10.11%	0.31%	2.63%	2.28%	-6.62%	1.61%	6.28%	3.42%	1.27%	13.36%	3.14%	-7.93%	0.22%	-8.41%	7.50%	7.92%	4.61%	1.23%	0.09%	-8.48%	1.63%	13.43%	5.42%	8.79%	-0.49%	0.71%
Levered Free Cash Flow	555,679,212	189,818,317	100,832,083	127,177,114	97,697,227	77,013,773	71,749,834	60,000,151	861,931,807	745,105,678	129,615,088	-847,561,136	-21,799,203	349,883,548	430,928,356	-612,712,529	-87,070,927	355,656,583	40,465,582	-57,889,119	520,991,416	40,111,419	-152,880,398	-7,167,996	-306,278,064	244,653,136	267,961,155	80,394,707	22,959,600	15,076,610	-136,231,433	-10,799,697	129,145,123	34,280,000	32,613,793	9,511,765	21,600,000
Levered Free Cash Flow Margin	7.38%	1.35%	0.56%	2.35%	1.61%	1.03%	2.21%	0.77%	10.88%	10.49%	2.53%	-17.90%	-0.38%	6.35%	9.14%	-14.54%	-1.75%	7.52%	1.20%	-1.87%	20.19%	2.68%	-12.34%	-0.43%	-15.08%	10.41%	14.37%	7.34%	2.82%	1.99%	-17.37%	-1.20%	15.98%	5.59%	8.17%	2.77%	8.04%