The Bank of New York Mellon Corporation (BK)

Category: Company Returns Sector: Financial Services Industry: Asset Management Live Price: $121.33

Income Returns

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
Net Income	3,463M	3,553M	3,727M	3,294M	2,810M	2,499M	2,281M	5,243M	3,580M	4,530M	3,302M	2,556M	3,759M	3,617M	4,441M	4,266M	4,090M	3,547M	3,158M	2,567M	2,104M	2,437M	2,516M	2,518M	-1,084M	1,419M	2,039M	2,847M	1,571M	1,440M	1,157M	902M	1,343M	1,429M	1,739M	1,192M	1,104M	1,020M	914M
Revenue	31,048M	25,122M	21,144M	18,980M	16,954M	14,881M	13,384M	40,407M	38,749M	39,553M	33,791M	19,800M	15,860M	16,604M	20,448M	18,807M	16,198M	15,269M	15,113M	14,782M	14,929M	14,723M	14,820M	14,006M	7,823M	15,721M	14,397M	9,062M	7,367M	6,216M	6,336M	5,756M	7,160M	7,486M	6,966M	5,793M	5,697M	5,713M	5,327M
Return on Revenue	11.38%	15.92%	19.34%	18.42%	16.92%	17.34%	17.78%	12.98%	9.24%	11.45%	9.77%	12.91%	23.70%	21.78%	21.72%	22.68%	25.25%	23.23%	20.90%	17.37%	14.09%	16.55%	16.98%	17.98%	-13.86%	9.03%	14.16%	31.42%	21.32%	23.17%	18.26%	15.67%	18.76%	19.09%	24.96%	20.58%	19.38%	17.85%	17.16%
Cost of Revenue	13,813M	8,581M	5,199M	3,614M	3,243M	2,921M	2,772M	21,008M	21,018M	21,365M	16,422M	3,653M	-4M	1,468M	4,335M	2,810M	1,050M	426M	460M	306M	308M	454M	605M	556M	925M	2,769M	3,414M	2,221M	1,322M	726M	876M	1,633M	2,314M	2,612M	1,907M	1,879M	1,985M	2,222M	2,132M
Return on Cost of Revenue	37.09%	-18,723.47%	-9,145.44%	-5,901.79%	-4,414.30%	-3,511.51%	-2,916.29%	24.96%	17.03%	21.20%	20.11%	69.97%	-93,975.00%	246.39%	102.45%	151.81%	389.52%	832.63%	686.52%	838.89%	683.12%	536.78%	415.87%	452.88%	-117.19%	51.25%	59.72%	128.19%	118.84%	198.35%	132.08%	55.24%	58.04%	54.71%	91.19%	63.44%	55.62%	45.90%	42.87%
Gross Profit	17,235M	16,541M	15,946M	15,366M	13,710M	11,960M	10,612M	19,399M	17,731M	18,188M	17,369M	16,147M	15,864M	15,136M	16,113M	15,997M	15,148M	14,843M	14,653M	14,476M	14,621M	14,269M	14,215M	13,450M	6,898M	12,952M	10,983M	6,841M	6,045M	5,490M	5,460M	4,123M	4,846M	4,874M	5,059M	3,914M	3,712M	3,491M	3,195M
Return on Gross Profit	19.92%	21.47%	23.40%	21.31%	20.05%	21.10%	22.66%	27.03%	20.19%	24.91%	19.01%	15.83%	23.70%	23.90%	27.56%	26.67%	27.00%	23.90%	21.55%	17.73%	14.39%	17.08%	17.70%	18.72%	-15.71%	10.96%	18.57%	41.62%	25.99%	26.23%	21.19%	21.88%	27.71%	29.32%	34.37%	30.45%	29.74%	29.22%	28.61%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on R&D Expenses	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	6,839M	6,564M	6,271M	6,085M	5,512M	4,760M	4,147M	6,913M	6,839M	6,890M	6,828M	6,800M	6,337M	5,966M	6,063M	6,145M	6,033M	5,809M	5,837M	5,845M	6,019M	5,761M	5,726M	5,215M	4,700M	5,189M	4,126M	2,640M	2,310M	2,094M	2,002M	1,581M	1,588M	1,488M	1,251M	1,178M	1,066M	1,014M	913M
Return on SG&A Expenses	50.57%	54.33%	59.73%	54.04%	52.01%	56.18%	64.96%	75.84%	52.35%	65.75%	48.36%	37.59%	59.32%	60.63%	73.25%	69.42%	67.79%	61.06%	54.10%	43.92%	34.96%	42.30%	43.94%	48.28%	-23.06%	27.35%	49.42%	107.84%	68.01%	68.77%	57.79%	57.05%	84.57%	96.03%	139.01%	101.19%	103.56%	100.59%	100.11%
Operating Expenses	12,698M	11,995M	11,238M	11,027M	10,101M	8,701M	7,575M	12,714M	13,123M	12,340M	13,086M	12,667M	11,216M	10,668M	10,526M	10,805M	10,538M	10,118M	10,418M	10,913M	10,844M	10,912M	10,598M	9,756M	9,106M	11,006M	7,768M	4,671M	4,067M	3,650M	3,698M	2,751M	2,788M	2,623M	2,219M	2,023M	1,939M	1,837M	1,713M
Return on Operating Expenses	27.37%	29.91%	33.54%	30.01%	28.85%	31.33%	36.21%	41.24%	27.28%	36.71%	25.23%	20.18%	33.51%	33.91%	42.19%	39.48%	38.81%	35.06%	30.31%	23.52%	19.40%	22.33%	23.74%	25.81%	-11.90%	12.89%	26.25%	60.95%	38.63%	39.45%	31.29%	32.79%	48.17%	54.48%	78.37%	58.92%	56.94%	55.53%	53.36%
Operating Income (EBIT)	4,537M	4,545M	4,708M	4,339M	3,609M	3,259M	3,037M	6,685M	4,608M	5,848M	4,283M	3,480M	4,648M	4,468M	5,587M	5,192M	4,610M	4,725M	4,235M	3,563M	3,777M	3,357M	3,617M	3,694M	-2,208M	1,946M	3,215M	2,170M	1,978M	1,840M	1,762M	1,372M	2,058M	2,251M	2,840M	1,891M	1,773M	1,654M	1,482M
Return on Operating Income (EBIT)	76.00%	77.97%	78.98%	75.19%	76.20%	74.50%	72.41%	78.43%	77.69%	77.46%	77.10%	73.45%	80.87%	80.95%	79.49%	82.16%	88.72%	75.07%	74.57%	72.05%	55.71%	72.59%	69.56%	68.16%	49.09%	72.92%	63.42%	131.20%	79.42%	78.26%	65.66%	65.74%	65.26%	63.48%	61.23%	63.04%	62.27%	61.67%	61.67%
Interest Income	17,791M	12,065M	8,559M	6,849M	6,193M	5,547M	5,221M	25,786M	25,103M	25,607M	20,648M	7,118M	2,845M	4,109M	7,548M	6,432M	4,382M	3,575M	3,326M	3,234M	3,352M	3,507M	3,588M	3,470M	3,508M	5,524M	5,670M	3,740M	2,669M	1,887M	2,330M	2,613M	3,620M	4,377M	3,473M	3,510M	3,560M	3,583M	3,831M
Return on Interest Income	23.20%	57.95%	70.24%	70.45%	61.12%	58.11%	54.00%	20.33%	14.26%	17.69%	15.99%	35.91%	132.13%	88.03%	58.84%	66.32%	93.34%	99.22%	94.95%	79.38%	62.77%	69.49%	70.12%	72.56%	-30.90%	25.69%	35.96%	76.12%	58.86%	76.31%	49.66%	34.52%	37.10%	32.65%	50.07%	33.96%	31.01%	28.47%	23.86%
Interest Expense	13,737M	8,514M	5,156M	3,596M	3,210M	2,842M	2,660M	20,994M	20,884M	21,295M	16,303M	3,614M	227M	1,132M	4,360M	2,821M	1,074M	437M	300M	354M	343M	534M	604M	545M	593M	2,665M	3,425M	2,241M	1,329M	730M	721M	948M	1,939M	2,507M	1,772M	1,859M	1,705M	1,622M	1,802M
Return on Interest Expense	37.42%	417.54%	458.60%	483.96%	371.73%	320.55%	278.48%	24.97%	17.14%	21.27%	20.25%	70.72%	1,655.95%	319.52%	101.86%	151.22%	380.82%	811.67%	1,052.67%	725.14%	613.41%	456.37%	416.56%	462.02%	-182.80%	53.25%	59.53%	127.04%	118.21%	197.26%	160.47%	95.15%	69.26%	57.00%	98.14%	64.12%	64.75%	62.89%	50.72%
Net Interest Income	4,054M	3,551M	3,403M	3,253M	2,983M	2,706M	2,561M	4,792M	4,219M	4,312M	4,345M	3,504M	2,618M	2,977M	3,188M	3,611M	3,308M	3,138M	3,026M	2,880M	3,009M	2,973M	2,984M	2,925M	2,915M	2,859M	2,245M	1,499M	1,340M	1,157M	1,609M	1,665M	1,681M	1,870M	1,701M	1,651M	1,855M	1,961M	2,029M
Return on Net Interest Income	84.67%	103.82%	111.76%	101.93%	96.97%	93.85%	89.24%	109.41%	84.85%	105.06%	76.00%	72.95%	143.58%	121.50%	139.30%	118.14%	123.64%	113.03%	104.36%	89.13%	69.92%	81.97%	84.32%	86.09%	-37.19%	49.63%	90.82%	189.93%	117.24%	124.46%	71.91%	54.17%	79.89%	76.42%	102.23%	72.20%	59.51%	52.01%	45.05%
Unusual Items	-4,054M	-3,551M	-3,403M	-3,253M	-2,983M	-2,706M	-2,561M	-4,792M	-4,219M	-4,312M	-4,345M	-3,504M	-2,618M	-2,977M	-3,188M	-3,611M	-3,308M	-3,138M	-3,026M	-2,880M	-3,009M	-2,973M	-2,984M	-2,925M	-2,915M	-2,859M	-2,245M	-1,499M	-1,340M	-1,157M	-1,609M	-1,665M	-1,681M	-1,870M	-1,701M	-1,651M	-1,855M	-1,961M	-2,029M
Return on Unusual Items	-84.67%	-103.82%	-111.76%	-101.93%	-96.97%	-93.85%	-89.24%	-109.41%	-84.85%	-105.06%	-76.00%	-72.95%	-143.58%	-121.50%	-139.30%	-118.14%	-123.64%	-113.03%	-104.36%	-89.13%	-69.92%	-81.97%	-84.32%	-86.09%	37.19%	-49.63%	-90.82%	-189.93%	-117.24%	-124.46%	-71.91%	-54.17%	-79.89%	-76.42%	-102.23%	-72.20%	-59.51%	-52.01%	-45.05%
EBT Excluding Unusual Items	8,591M	8,097M	8,110M	7,592M	6,592M	5,964M	5,598M	11,477M	8,827M	10,160M	8,628M	6,984M	7,266M	7,445M	8,775M	8,803M	7,918M	7,863M	7,261M	6,443M	6,786M	6,330M	6,601M	6,619M	707M	4,805M	5,460M	3,669M	3,318M	2,997M	3,371M	3,037M	3,739M	4,121M	4,541M	3,542M	3,628M	3,615M	3,511M
Return on EBT Excluding Unusual Items	39.82%	43.95%	45.91%	42.97%	34.15%	34.63%	34.08%	45.68%	40.56%	44.59%	38.27%	36.60%	51.73%	48.58%	50.61%	48.46%	51.65%	45.11%	43.49%	39.84%	31.01%	38.50%	38.12%	38.04%	-153.32%	29.53%	37.34%	77.60%	47.35%	48.05%	34.32%	29.70%	35.92%	34.68%	38.30%	33.65%	30.43%	28.22%	26.03%
Pre-Tax Income	4,537M	4,545M	4,708M	4,339M	3,609M	3,259M	3,037M	6,685M	4,608M	5,848M	4,283M	3,480M	4,648M	4,468M	5,587M	5,192M	4,610M	4,725M	4,235M	3,563M	3,777M	3,357M	3,617M	3,694M	-2,208M	1,946M	3,215M	2,170M	1,978M	1,840M	1,762M	1,372M	2,058M	2,251M	2,840M	1,891M	1,773M	1,654M	1,482M
Return on Pre-Tax Income	76.00%	77.97%	78.98%	75.19%	76.20%	74.50%	72.41%	78.43%	77.69%	77.46%	77.10%	73.45%	80.87%	80.95%	79.49%	82.16%	88.72%	75.07%	74.57%	72.05%	55.71%	72.59%	69.56%	68.16%	49.09%	72.92%	63.42%	131.20%	79.42%	78.26%	65.66%	65.74%	65.26%	63.48%	61.23%	63.04%	62.27%	61.67%	61.67%
Income Tax Expense	1,074M	988M	968M	1,008M	827M	789M	780M	1,414M	1,019M	1,305M	979M	937M	877M	842M	1,120M	938M	496M	1,177M	1,013M	912M	1,592M	842M	1,048M	1,047M	-1,395M	491M	987M	694M	635M	587M	605M	470M	715M	822M	1,101M	699M	669M	634M	568M
Return on Income Tax Expense	319.06%	363.08%	410.44%	352.54%	325.95%	300.36%	277.48%	370.79%	351.32%	347.13%	337.28%	272.79%	428.62%	429.57%	396.52%	454.80%	824.60%	301.36%	311.75%	281.47%	132.16%	289.43%	240.08%	240.50%	77.71%	289.00%	206.59%	410.23%	247.40%	245.32%	191.24%	191.91%	187.83%	173.84%	157.95%	170.53%	165.02%	160.88%	160.92%
Depreciation and Amortization	1,823M	1,793M	1,605M	1,426M	1,240M	1,059M	917M	1,728M	2,001M	1,803M	1,887M	1,778M	1,867M	1,630M	1,315M	1,339M	1,474M	1,502M	1,457M	1,292M	1,389M	1,246M	776M	629M	711M	878M	820M	490M	526M	480M	430M	232M	284M	247M	215M	187M	200M	237M	198M
Return on Depreciation and Amortization	190.00%	198.65%	237.99%	243.35%	239.39%	271.88%	322.91%	303.41%	178.91%	251.25%	174.99%	143.76%	201.34%	221.90%	337.72%	318.60%	277.48%	236.15%	216.75%	198.68%	151.48%	195.59%	324.23%	400.32%	-152.46%	161.62%	248.66%	581.02%	298.67%	300.00%	269.07%	388.79%	472.89%	578.54%	808.84%	637.43%	552.00%	430.38%	461.62%
EBITDA	6,360M	6,338M	6,313M	5,765M	4,850M	4,318M	3,954M	8,413M	6,609M	7,651M	6,170M	5,258M	6,515M	6,098M	6,902M	6,531M	6,084M	6,227M	5,692M	4,855M	5,166M	4,603M	4,393M	4,323M	-1,497M	2,824M	4,035M	2,660M	2,504M	2,320M	2,192M	1,604M	2,342M	2,498M	3,055M	2,078M	1,973M	1,891M	1,680M
Return on EBITDA	53.78%	55.67%	58.77%	56.65%	59.64%	59.13%	58.56%	62.32%	54.17%	59.21%	53.52%	48.61%	57.70%	59.31%	64.34%	65.32%	67.23%	56.96%	55.48%	52.87%	40.73%	52.94%	57.27%	58.25%	72.41%	50.25%	50.53%	107.03%	62.74%	62.07%	52.78%	56.23%	57.34%	57.21%	56.92%	57.36%	55.96%	53.94%	54.40%
NOPAT	3,463M	3,557M	3,739M	3,331M	2,782M	2,469M	2,257M	5,271M	3,589M	4,543M	3,304M	2,543M	3,771M	3,626M	4,467M	4,254M	4,114M	3,548M	3,222M	2,651M	2,185M	2,515M	2,569M	2,647M	-813M	1,455M	2,228M	1,476M	1,343M	1,253M	1,157M	902M	1,343M	1,429M	1,739M	1,192M	1,104M	1,020M	914M
Return on NOPAT	100.05%	99.92%	99.67%	98.65%	105.60%	105.08%	104.23%	99.47%	99.75%	99.71%	99.94%	100.51%	99.68%	99.75%	99.42%	100.28%	99.42%	99.97%	98.01%	96.83%	96.29%	96.90%	97.94%	95.13%	133.33%	97.53%	91.52%	192.89%	116.98%	114.92%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Owner's Earnings	3,893M	4,023M	4,176M	3,754M	3,262M	2,893M	2,617M	5,441M	4,291M	4,864M	3,969M	2,846M	4,411M	4,025M	4,546M	4,497M	4,367M	4,224M	4,014M	3,068M	2,876M	3,031M	2,650M	2,917M	-691M	1,994M	2,552M	3,120M	1,966M	1,658M	1,458M	926M	1,462M	1,570M	1,367M	1,291M	1,259M	1,210M	1,058M
Return on Owner's Earnings	88.71%	88.24%	89.01%	87.24%	89.38%	89.37%	90.40%	96.36%	83.43%	93.13%	83.19%	89.81%	85.22%	89.86%	97.69%	94.86%	93.66%	83.97%	78.67%	83.67%	73.16%	80.40%	94.94%	86.32%	156.87%	71.16%	79.90%	91.25%	79.91%	86.85%	79.36%	97.41%	91.86%	91.02%	127.21%	92.33%	87.69%	84.30%	86.39%

Balance Sheet Returns

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
Net Income	3,463M	3,553M	3,727M	3,294M	2,810M	2,499M	2,281M	4,530M	3,302M	2,556M	3,759M	3,617M	4,441M	4,266M	4,090M	3,547M	3,158M	2,567M	2,104M	2,437M	2,516M	2,518M	-1,084M	1,419M	2,039M	2,847M	1,571M	1,440M	1,157M	902M	1,343M	1,429M	1,739M	1,192M	1,104M	1,020M	914M
Cash & Cash Equivalents	111,494M	123,596M	114,237M	116,903M	99,441M	81,647M	69,361M	101,937M	125,191M	107,355M	121,336M	162,160M	114,683M	88,000M	108,871M	77,949M	134,886M	123,147M	146,119M	138,747M	130,739M	72,424M	67,396M	98,560M	41,458M	16,336M	11,526M	12,078M	12,129M	9,852M	9,841M	8,462M	10,126M	8,503M	7,895M	7,419M	5,693M
Return on Cash & Cash Equivalents	3.15%	2.96%	3.42%	2.99%	4.03%	5.67%	7.23%	4.44%	2.64%	2.38%	3.10%	2.23%	3.87%	4.85%	3.76%	4.55%	2.34%	2.08%	1.44%	1.76%	1.92%	3.48%	-1.61%	1.44%	4.92%	17.43%	13.63%	11.92%	9.54%	9.16%	13.65%	16.89%	17.17%	14.02%	13.98%	13.75%	16.05%
Short-Term Investments	110,204M	125,374M	121,074M	116,380M	97,217M	80,180M	67,759M	98,673M	113,736M	118,202M	145,409M	150,848M	129,082M	137,113M	110,932M	101,876M	104,867M	131,731M	107,765M	115,249M	95,931M	84,282M	56,606M	41,593M	62,046M	30,035M	8,355M	10,335M	10,235M	8,694M	13,065M	17,841M	14,098M	4,918M	5,436M	2,109M	1,698M
Return on Short-Term Investments	3.22%	2.93%	3.14%	2.87%	3.80%	5.20%	9.63%	4.59%	2.90%	2.16%	2.59%	2.40%	3.44%	3.11%	3.69%	3.48%	3.01%	1.95%	1.95%	2.11%	2.62%	2.99%	-1.91%	3.41%	3.29%	9.48%	18.80%	13.93%	11.30%	10.37%	10.28%	8.01%	12.34%	24.24%	20.31%	48.36%	53.83%
Cash & Short-Term Investments	221,698M	248,969M	235,311M	233,283M	196,658M	161,827M	137,119M	200,610M	238,927M	225,557M	266,745M	313,008M	243,765M	225,113M	219,803M	179,825M	239,753M	254,878M	253,884M	253,996M	226,670M	156,706M	124,002M	140,153M	103,504M	46,371M	19,881M	22,413M	22,364M	18,546M	22,906M	26,303M	24,224M	13,421M	13,331M	9,528M	7,391M
Return on Cash & Short-Term Investments	1.59%	1.47%	1.62%	1.45%	1.89%	2.63%	3.77%	2.26%	1.38%	1.13%	1.41%	1.16%	1.82%	1.90%	1.86%	1.97%	1.32%	1.01%	0.83%	0.96%	1.11%	1.61%	-0.87%	1.01%	1.97%	6.14%	7.90%	6.42%	5.17%	4.86%	5.86%	5.43%	7.18%	8.88%	8.28%	10.71%	12.37%
Net Receivables	7,529M	6,841M	6,991M	7,872M	7,974M	6,431M	5,413M	7,082M	8,585M	6,919M	5,903M	5,716M	5,924M	6,741M	8,032M	7,512M	7,493M	9,054M	8,866M	10,301M	10,050M	9,900M	9,553M	11,518M	10,595M	9,363M	363M	285M	214M	204M	236M	354M	319M	355M	356M	315M	270M
Return on Net Receivables	46.46%	53.27%	54.49%	44.74%	57.72%	144.61%	182.29%	63.96%	38.46%	36.94%	63.68%	63.28%	74.97%	63.28%	50.92%	47.22%	42.15%	28.35%	23.73%	23.66%	25.03%	25.43%	-11.35%	12.32%	19.24%	30.41%	432.78%	505.26%	540.65%	442.16%	569.07%	403.67%	545.14%	335.77%	310.11%	323.81%	338.52%
Inventory	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Inventory	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Current Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 Current Assets	231,807M	258,250M	244,318M	242,915M	206,224M	169,532M	143,594M	210,463M	250,067M	234,891M	275,070M	320,757M	251,644M	233,596M	229,646M	188,611M	248,437M	265,091M	264,410M	265,224M	237,648M	168,172M	135,358M	152,464M	116,085M	56,592M	20,244M	22,698M	22,578M	18,750M	23,142M	26,657M	24,543M	13,776M	13,687M	9,843M	7,661M
Return on Total Current Assets	1.52%	1.41%	1.56%	1.39%	1.77%	2.52%	3.63%	2.15%	1.32%	1.09%	1.37%	1.13%	1.76%	1.83%	1.78%	1.88%	1.27%	0.97%	0.80%	0.92%	1.06%	1.50%	-0.80%	0.93%	1.76%	5.03%	7.76%	6.34%	5.12%	4.81%	5.80%	5.36%	7.09%	8.65%	8.07%	10.36%	11.93%
Property, Plant & Equipment	3,228M	3,344M	2,649M	2,305M	2,082M	1,890M	1,720M	3,266M	3,163M	3,256M	3,431M	3,602M	3,625M	1,832M	1,634M	1,303M	1,379M	1,394M	1,655M	1,659M	1,681M	1,693M	1,602M	1,686M	1,731M	1,050M	1,004M	1,097M	1,398M	1,192M	992M	924M	893M	856M	835M	875M	902M
Return on Property, Plant & Equipment	107.20%	106.31%	163.85%	159.67%	147.85%	141.47%	140.69%	138.70%	104.39%	78.50%	109.56%	100.42%	122.51%	232.86%	250.31%	272.22%	229.01%	184.15%	127.13%	146.90%	149.67%	148.73%	-67.67%	84.16%	117.79%	271.14%	156.47%	131.27%	82.76%	75.67%	135.38%	154.65%	194.74%	139.25%	132.22%	116.57%	101.33%
Goodwill	16,336M	16,803M	17,125M	17,414M	15,911M	12,867M	10,723M	16,598M	16,261M	16,150M	17,512M	17,496M	17,386M	17,350M	17,564M	17,316M	17,618M	17,869M	18,073M	18,075M	17,904M	18,042M	16,249M	15,898M	16,331M	5,008M	3,510M	3,477M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Goodwill	21.14%	21.11%	21.74%	18.99%	20.06%	17.71%	14.76%	27.29%	20.31%	15.83%	21.47%	20.67%	25.54%	24.59%	23.29%	20.48%	17.92%	14.37%	11.64%	13.48%	14.05%	13.96%	-6.67%	8.93%	12.49%	56.85%	44.76%	41.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	5,324M	5,191M	5,068M	5,367M	5,154M	4,181M	3,484M	5,527M	5,284M	5,161M	5,087M	4,896M	4,697M	4,872M	4,910M	5,049M	5,197M	5,459M	5,703M	5,926M	6,138M	6,592M	6,183M	6,463M	6,921M	1,841M	1,166M	793M	214M	204M	236M	0M	0M	0M	0M	0M	0M
Return on Intangible Assets	64.66%	68.35%	73.82%	62.83%	63.28%	119.97%	99.97%	81.96%	62.49%	49.53%	73.89%	73.88%	94.55%	87.56%	83.30%	70.25%	60.77%	47.02%	36.89%	41.12%	40.99%	38.20%	-17.53%	21.96%	29.46%	154.64%	134.73%	181.59%	540.65%	442.16%	569.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	140,533M	132,882M	118,878M	101,183M	88,467M	81,161M	74,821M	170,268M	122,691M	128,639M	131,129M	111,684M	95,080M	95,894M	108,355M	112,392M	112,647M	88,096M	77,847M	60,955M	55,422M	46,651M	47,615M	58,382M	50,544M	34,899M	60,145M	59,583M	58,186M	49,640M	48,609M	43,662M	44,446M	44,801M	41,755M	42,059M	42,557M
Return on Long-Term Investments	2.45%	2.69%	3.23%	3.46%	3.34%	3.16%	3.10%	2.66%	2.69%	1.99%	2.87%	3.24%	4.67%	4.45%	3.77%	3.16%	2.80%	2.91%	2.70%	4.00%	4.54%	5.40%	-2.28%	2.43%	4.03%	8.16%	2.61%	2.42%	1.99%	1.82%	2.76%	3.27%	3.91%	2.66%	2.64%	2.43%	2.15%
Tax Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Tax Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	13,346M	12,689M	10,880M	9,517M	8,825M	8,287M	7,513M	9,942M	12,411M	17,686M	12,209M	11,198M	9,076M	9,329M	9,649M	8,798M	8,502M	7,394M	6,828M	7,151M	6,473M	6,109M	5,217M	2,619M	6,044M	3,816M	16,049M	6,881M	6,143M	5,583M	6,198M	5,871M	4,874M	4,070M	3,684M	2,988M	2,600M
Return on Other Non-Current Assets	28.87%	29.94%	36.42%	36.26%	34.77%	31.90%	32.05%	45.56%	26.61%	14.45%	30.79%	32.30%	48.93%	45.73%	42.39%	40.32%	37.14%	34.72%	30.81%	34.08%	38.87%	41.22%	-20.78%	54.18%	33.74%	74.61%	9.79%	20.93%	18.83%	16.16%	21.67%	24.34%	35.68%	29.29%	29.97%	34.14%	35.15%
Other Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	178,768M	170,909M	154,600M	135,786M	120,438M	108,710M	98,531M	205,601M	159,810M	170,892M	169,368M	148,876M	129,864M	129,277M	142,112M	144,858M	145,343M	120,212M	110,106M	93,766M	87,618M	79,087M	76,866M	85,048M	81,571M	46,614M	81,874M	71,831M	69,819M	58,990M	57,883M	50,457M	50,213M	49,727M	46,274M	45,922M	46,059M
Return on Total Non-Current Assets	1.92%	2.08%	2.46%	2.49%	2.41%	2.34%	2.36%	2.20%	2.07%	1.50%	2.22%	2.43%	3.42%	3.30%	2.88%	2.45%	2.17%	2.14%	1.91%	2.60%	2.87%	3.18%	-1.41%	1.67%	2.50%	6.11%	1.92%	2.00%	1.66%	1.53%	2.32%	2.83%	3.46%	2.40%	2.39%	2.22%	1.98%
Total Assets	410,575M	429,159M	398,918M	378,701M	326,662M	278,242M	242,125M	416,064M	409,877M	405,783M	444,438M	469,633M	381,508M	362,873M	371,758M	333,469M	393,780M	385,303M	374,516M	358,990M	325,266M	247,259M	212,224M	237,512M	197,656M	103,206M	102,118M	94,529M	92,397M	77,740M	81,025M	77,114M	74,756M	63,503M	59,961M	55,765M	53,720M
Return on Total Assets	0.84%	0.83%	0.94%	0.88%	0.93%	1.04%	1.19%	1.09%	0.81%	0.63%	0.85%	0.77%	1.16%	1.18%	1.10%	1.06%	0.80%	0.67%	0.56%	0.68%	0.77%	1.02%	-0.51%	0.60%	1.03%	2.76%	1.54%	1.52%	1.25%	1.16%	1.66%	1.85%	2.33%	1.88%	1.84%	1.83%	1.70%
Accounts Payable	20,634M	22,428M	21,370M	19,288M	16,216M	12,993M	10,856M	20,073M	18,395M	23,435M	25,150M	25,085M	18,758M	19,731M	20,184M	20,987M	21,900M	21,181M	15,707M	16,095M	12,671M	9,962M	10,721M	9,274M	7,578M	7,266M	163M	113M	82M	101M	92M	127M	131M	188M	182M	167M	190M
Return on Accounts Payable	17.14%	16.16%	17.77%	17.56%	64.93%	298.48%	370.73%	22.57%	17.95%	10.91%	14.95%	14.42%	23.68%	21.62%	20.26%	16.90%	14.42%	12.12%	13.40%	15.14%	19.86%	25.28%	-10.11%	15.30%	26.91%	39.18%	963.80%	1,274.34%	1,410.98%	893.07%	1,459.78%	1,125.20%	1,327.48%	634.04%	606.59%	610.78%	481.05%
Short-Term Debt	13,736M	12,816M	14,013M	12,119M	9,781M	8,291M	7,968M	14,365M	14,507M	12,335M	11,566M	11,305M	15,360M	16,182M	18,238M	10,743M	15,525M	12,255M	9,744M	7,765M	6,277M	5,612M	3,360M	1,510M	6,272M	1,014M	1,694M	1,738M	1,873M	1,111M	4,119M	2,795M	5,143M	6,107M	7,002M	5,881M	7,639M
Return on Short-Term Debt	25.01%	27.90%	27.06%	28.63%	44.86%	48.27%	43.50%	31.53%	22.76%	20.72%	32.50%	31.99%	28.91%	26.36%	22.43%	33.02%	20.34%	20.95%	21.59%	31.38%	40.08%	44.87%	-32.26%	93.97%	32.51%	280.77%	92.74%	82.85%	61.77%	81.19%	32.61%	51.13%	33.81%	19.52%	15.77%	17.34%	11.96%
Tax Payables	5,416M	5,542M	5,710M	6,007M	5,786M	5,422M	4,836M	5,270M	5,567M	5,410M	5,767M	5,696M	5,642M	5,669M	6,225M	5,867M	5,986M	6,305M	6,985M	7,316M	6,235M	6,164M	4,484M	3,779M	8,101M	5,129M	4,124M	4,452M	4,256M	4,066M	3,766M	3,283M	2,644M	2,183M	1,910M	1,417M	1,378M
Return on Tax Payables	64.17%	64.24%	65.41%	55.96%	48.58%	45.30%	48.30%	85.96%	59.31%	47.25%	65.18%	63.50%	78.71%	75.25%	65.70%	60.46%	52.76%	40.71%	30.12%	33.31%	40.35%	40.85%	-24.17%	37.55%	25.17%	55.51%	38.09%	32.35%	27.19%	22.18%	35.66%	43.53%	65.77%	54.60%	57.80%	71.98%	66.33%
Deferred Revenue	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	286,426M	305,078M	277,479M	264,704M	225,222M	191,481M	166,801M	291,525M	286,212M	281,541M	322,232M	343,878M	261,123M	239,977M	245,530M	222,357M	280,413M	274,190M	272,829M	258,027M	230,102M	160,626M	136,244M	160,482M	122,702M	64,653M	49,787M	58,721M	56,406M	55,387M	55,711M	56,376M	55,751M	44,632M	41,357M	39,343M	35,918M
Return on Other Current Liabilities	1.21%	1.17%	1.37%	1.27%	1.42%	1.58%	1.77%	1.55%	1.15%	0.91%	1.17%	1.05%	1.70%	1.78%	1.67%	1.60%	1.13%	0.94%	0.77%	0.94%	1.09%	1.57%	-0.80%	0.88%	1.66%	4.40%	3.16%	2.45%	2.05%	1.63%	2.41%	2.53%	3.12%	2.67%	2.67%	2.59%	2.54%
Total Current Liabilities	320,796M	340,321M	312,861M	296,937M	252,063M	213,440M	186,188M	325,963M	319,114M	317,311M	358,948M	380,268M	295,241M	275,890M	283,952M	254,087M	317,838M	307,626M	298,280M	281,887M	255,285M	182,364M	154,809M	171,266M	136,552M	72,933M	51,644M	60,572M	58,361M	56,599M	59,922M	59,298M	61,025M	50,927M	48,541M	45,391M	43,747M
Return on Total Current Liabilities	1.08%	1.05%	1.21%	1.13%	1.27%	1.44%	1.60%	1.39%	1.03%	0.81%	1.05%	0.95%	1.50%	1.55%	1.44%	1.40%	0.99%	0.83%	0.71%	0.86%	0.99%	1.38%	-0.70%	0.83%	1.49%	3.90%	3.04%	2.38%	1.98%	1.59%	2.24%	2.41%	2.85%	2.34%	2.27%	2.25%	2.09%
Long-Term Debt	31,223M	29,337M	28,547M	25,896M	23,019M	19,443M	16,548M	31,079M	31,736M	30,855M	26,680M	26,334M	28,100M	32,390M	31,007M	25,217M	22,070M	21,050M	20,527M	19,910M	22,107M	19,375M	17,711M	16,620M	18,713M	10,174M	8,721M	6,121M	6,121M	5,440M	4,976M	3,036M	2,811M	2,086M	1,809M	1,816M	1,848M
Return on Long-Term Debt	11.09%	12.22%	13.16%	12.71%	12.50%	15.32%	22.29%	14.58%	10.40%	8.28%	14.09%	13.74%	15.80%	13.17%	13.19%	14.07%	14.31%	12.19%	10.25%	12.24%	11.38%	13.00%	-6.12%	8.54%	10.90%	27.98%	18.01%	23.53%	18.90%	16.58%	26.99%	47.07%	61.86%	57.14%	61.03%	56.17%	49.46%
Capital Lease Obligations	765M	1,006M	652M	435M	326M	261M	217M	0M	1,160M	1,134M	1,315M	1,422M	1,488M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Capital Lease Obligations	170.02%	210.05%	134.87%	89.91%	67.44%	53.95%	44.96%	0.00%	284.66%	225.40%	285.86%	254.36%	298.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Tax Liabilities	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 Liabilities	17,382M	16,895M	15,918M	16,006M	16,293M	15,594M	13,573M	17,258M	18,122M	16,767M	15,419M	16,911M	16,439M	13,725M	15,053M	14,585M	14,897M	17,924M	17,199M	19,751M	13,673M	12,363M	10,701M	21,537M	12,988M	8,670M	31,877M	18,546M	19,487M	9,017M	9,810M	7,128M	4,277M	3,742M	3,609M	2,831M	2,893M
Return on Other Non-Current Liabilities	19.90%	21.10%	23.63%	20.93%	18.19%	16.85%	19.73%	26.25%	18.22%	15.24%	24.38%	21.39%	27.02%	31.08%	27.17%	24.32%	21.20%	14.32%	12.23%	12.34%	18.40%	20.37%	-10.13%	6.59%	15.70%	32.84%	4.93%	7.76%	5.94%	10.00%	13.69%	20.05%	40.66%	31.85%	30.59%	36.03%	31.59%
Total Non-Current Liabilities	48,606M	46,232M	44,464M	41,902M	39,312M	35,037M	30,121M	48,337M	49,858M	47,622M	42,099M	43,245M	44,539M	46,115M	46,060M	39,802M	36,967M	38,974M	37,726M	39,661M	35,780M	31,738M	28,412M	38,157M	31,701M	18,844M	40,598M	24,667M	25,608M	14,457M	14,786M	10,164M	7,088M	5,828M	5,418M	4,647M	4,741M
Return on Total Non-Current Liabilities	7.12%	7.73%	8.42%	7.83%	7.14%	7.30%	9.64%	9.37%	6.62%	5.37%	8.93%	8.36%	9.97%	9.25%	8.88%	8.91%	8.54%	6.59%	5.58%	6.14%	7.03%	7.93%	-3.82%	3.72%	6.43%	15.11%	3.87%	5.84%	4.52%	6.24%	9.08%	14.06%	24.53%	20.45%	20.38%	21.95%	19.28%
Total Liabilities	369,402M	386,553M	357,326M	338,838M	291,375M	248,477M	216,309M	374,300M	368,972M	364,933M	401,047M	423,513M	339,780M	322,005M	330,012M	293,889M	354,805M	346,600M	336,006M	321,548M	291,065M	214,102M	183,221M	209,423M	168,253M	91,777M	92,242M	85,239M	83,969M	71,056M	74,708M	69,462M	68,113M	56,755M	53,959M	50,038M	48,488M
Return on Total Liabilities	0.94%	0.92%	1.06%	0.98%	1.04%	1.16%	1.32%	1.21%	0.89%	0.70%	0.94%	0.85%	1.31%	1.32%	1.24%	1.21%	0.89%	0.74%	0.63%	0.76%	0.86%	1.18%	-0.59%	0.68%	1.21%	3.10%	1.70%	1.69%	1.38%	1.27%	1.80%	2.06%	2.55%	2.10%	2.05%	2.04%	1.89%
Preferred Stock	4,508M	4,581M	3,962M	2,921M	2,330M	1,864M	1,561M	4,343M	4,343M	4,838M	4,838M	4,541M	3,542M	3,542M	3,542M	3,542M	2,552M	1,562M	1,562M	1,068M	0M	0M	0M	2,786M	0M	0M	0M	0M	0M	0M	0M	1M	1M	1M	1M	112M	113M
Return on Preferred Stock	77.72%	78.10%	97.57%	100.19%	77.69%	5,778.15%	18,322.45%	104.31%	76.03%	52.83%	77.70%	79.65%	125.38%	120.44%	115.47%	100.14%	123.75%	164.34%	134.70%	228.18%	0.00%	0.00%	0.00%	50.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	142,900.00%	173,900.00%	119,200.00%	110,400.00%	910.71%	808.85%
Common Stock	14M	14M	14M	13M	404M	1,840M	1,778M	14M	14M	14M	14M	14M	14M	14M	14M	13M	13M	13M	13M	13M	12M	12M	12M	11M	11M	10M	7,838M	7,836M	7,800M	7,453M	7,431M	7,391M	7,335M	0M	0M	0M	0M
Return on Common Stock	24,733.33%	25,377.14%	26,986.98%	24,433.11%	20,869.49%	16,698.90%	13,916.54%	32,357.14%	23,585.71%	18,257.14%	26,850.00%	25,835.71%	31,721.43%	30,471.43%	29,214.29%	27,284.62%	24,292.31%	19,746.15%	16,184.62%	18,746.15%	20,966.67%	20,983.33%	-9,033.33%	12,900.00%	18,536.36%	28,470.00%	20.04%	18.38%	14.83%	12.10%	18.07%	19.33%	23.71%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	39,983M	38,172M	31,963M	26,107M	21,856M	18,452M	15,807M	42,537M	39,549M	37,864M	36,667M	34,241M	31,894M	28,652M	25,635M	22,621M	19,974M	17,683M	15,952M	14,622M	12,812M	10,898M	8,912M	10,225M	10,015M	9,280M	7,089M	6,162M	5,330M	4,736M	4,383M	3,566M	2,620M	1,318M	3,493M	2,798M	2,689M
Return on Retained Earnings	8.58%	9.31%	12.28%	14.00%	14.24%	16.79%	22.62%	10.65%	8.35%	6.75%	10.25%	10.56%	13.92%	14.89%	15.95%	15.68%	15.81%	14.52%	13.19%	16.67%	19.64%	23.11%	-12.16%	13.88%	20.36%	30.68%	22.16%	23.37%	21.71%	19.05%	30.64%	40.07%	66.37%	90.44%	31.61%	36.45%	33.99%
Accumulated OCI	-5,172M	-3,743M	-3,324M	-2,626M	-2,383M	-1,888M	-1,562M	-4,656M	-4,893M	-5,966M	-2,213M	-985M	-2,638M	-3,171M	-2,357M	-3,765M	-2,600M	-1,634M	-892M	-643M	-1,627M	-1,355M	-1,835M	-5,401M	-574M	-317M	-141M	-6M	71M	131M	74M	199M	20M	312M	0M	0M	0M
Return on Accumulated OCI	-69.21%	-148.94%	-143.68%	-169.95%	-244.20%	-961.31%	-498.53%	-97.29%	-67.48%	-42.84%	-169.86%	-367.21%	-168.35%	-134.53%	-173.53%	-94.21%	-121.46%	-157.10%	-235.87%	-379.00%	-154.64%	-185.83%	59.07%	-26.27%	-355.23%	-898.11%	-1,114.18%	-24,000.00%	1,629.58%	688.55%	1,814.86%	718.09%	8,695.00%	382.05%	0.00%	0.00%	0.00%
Minority Interest	232M	275M	405M	595M	449M	420M	496M	446M	135M	116M	357M	319M	245M	230M	495M	769M	938M	1,262M	1,013M	1,011M	784M	803M	26M	39M	0M	0M	0M	0M	0M	0M	0M	1,500M	1,500M	1,300M	1,000M	600M	0M
Return on Minority Interest	1,888.36%	1,570.37%	1,314.35%	962.01%	694.97%	559.79%	482.76%	1,015.70%	2,445.93%	2,203.45%	1,052.94%	1,133.86%	1,812.65%	1,854.78%	826.26%	461.25%	336.67%	203.41%	207.70%	241.05%	320.92%	313.57%	-4,169.23%	3,638.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	95.27%	115.93%	91.69%	110.40%	170.00%	0.00%
Total Shareholders’ Equity	40,941M	42,331M	41,188M	39,268M	34,838M	29,345M	25,319M	41,318M	40,770M	40,734M	43,034M	45,801M	41,483M	40,638M	41,251M	38,811M	38,037M	37,441M	37,497M	36,431M	33,417M	32,354M	28,977M	28,050M	29,403M	11,429M	9,876M	9,290M	8,428M	6,684M	6,317M	6,152M	5,143M	5,448M	5,002M	5,127M	5,232M
Return on Total Shareholders’ Equity	8.45%	8.39%	9.05%	8.33%	8.70%	10.45%	12.55%	10.96%	8.10%	6.27%	8.73%	7.90%	10.71%	10.50%	9.91%	9.14%	8.30%	6.86%	5.61%	6.69%	7.53%	7.78%	-3.74%	5.06%	6.93%	24.91%	15.91%	15.50%	13.73%	13.49%	21.26%	23.23%	33.81%	21.88%	22.07%	19.89%	17.47%
Total Equity	41,173M	42,606M	41,593M	39,863M	35,287M	29,764M	25,815M	41,764M	40,905M	40,850M	43,391M	46,120M	41,728M	40,868M	41,746M	39,580M	38,975M	38,703M	38,510M	37,442M	34,201M	33,157M	29,003M	28,089M	29,403M	11,429M	9,876M	9,290M	8,428M	6,684M	6,317M	7,652M	6,643M	6,748M	6,002M	5,727M	5,232M
Return on Total Equity	8.39%	8.34%	8.96%	8.21%	8.61%	10.20%	11.75%	10.85%	8.07%	6.26%	8.66%	7.84%	10.64%	10.44%	9.80%	8.96%	8.10%	6.63%	5.46%	6.51%	7.36%	7.59%	-3.74%	5.05%	6.93%	24.91%	15.91%	15.50%	13.73%	13.49%	21.26%	18.67%	26.18%	17.66%	18.39%	17.81%	17.47%
Total Liabilities & Equity	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Total Liabilities & Equity	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	250,736M	258,256M	239,952M	217,563M	185,683M	161,341M	142,580M	268,941M	236,427M	246,841M	276,538M	262,532M	224,162M	233,007M	219,287M	214,268M	217,514M	219,827M	185,612M	176,204M	151,353M	130,933M	104,221M	99,975M	112,590M	64,934M	68,500M	69,918M	68,421M	58,334M	61,674M	61,503M	58,544M	49,719M	47,191M	44,168M	44,255M
Return on Total Investments	1.37%	1.37%	1.56%	1.53%	1.59%	1.66%	1.79%	1.68%	1.40%	1.04%	1.36%	1.38%	1.98%	1.83%	1.87%	1.66%	1.45%	1.17%	1.13%	1.38%	1.66%	1.92%	-1.04%	1.42%	1.81%	4.38%	2.29%	2.06%	1.69%	1.55%	2.18%	2.32%	2.97%	2.40%	2.34%	2.31%	2.07%
Net Debt	-66,535M	-81,443M	-71,677M	-78,889M	-66,641M	-53,914M	-44,845M	-56,493M	-78,948M	-64,165M	-83,090M	-124,521M	-71,223M	-39,428M	-59,626M	-41,989M	-97,291M	-89,842M	-115,848M	-111,072M	-102,355M	-47,437M	-46,325M	-80,430M	-16,473M	-5,148M	-1,111M	-4,219M	-4,135M	-3,301M	-746M	-2,631M	-2,172M	-310M	916M	278M	3,794M
Return on Net Debt	-5.39%	-4.72%	-5.92%	-4.92%	-14.12%	-24.25%	-18.64%	-8.02%	-4.18%	-3.98%	-4.52%	-2.90%	-6.24%	-10.82%	-6.86%	-8.45%	-3.25%	-2.86%	-1.82%	-2.19%	-2.46%	-5.31%	2.34%	-1.76%	-12.38%	-55.30%	-141.40%	-34.13%	-27.98%	-27.33%	-180.03%	-54.31%	-80.06%	-384.52%	120.52%	366.91%	24.09%

Capital Returns

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
Net Income	3,463M	3,553M	3,727M	3,294M	2,810M	2,499M	2,281M	4,530M	3,302M	2,556M	3,759M	3,617M	4,441M	4,266M	4,090M	3,547M	3,158M	2,567M	2,104M	2,437M	2,516M	2,518M	-1,084M	1,419M	2,039M	2,847M	1,571M	1,440M	1,157M	902M	1,343M	1,429M	1,739M	1,192M	1,104M	1,020M	914M
Working Capital	-88,989M	-82,071M	-68,543M	-54,022M	-45,839M	-43,909M	-42,595M	-115,500M	-69,047M	-82,420M	-83,878M	-59,511M	-43,597M	-42,294M	-54,306M	-65,476M	-69,401M	-42,535M	-33,870M	-16,663M	-17,637M	-14,192M	-19,451M	-18,802M	-20,467M	-16,341M	-31,400M	-37,874M	-35,783M	-37,849M	-36,780M	-32,641M	-36,482M	-37,151M	-34,854M	-35,548M	-36,086M
Return on Working Capital	-3.94%	-4.47%	-6.01%	-7.93%	-7.67%	-6.83%	-6.25%	-3.92%	-4.78%	-3.10%	-4.48%	-6.08%	-10.19%	-10.09%	-7.53%	-5.42%	-4.55%	-6.04%	-6.21%	-14.63%	-14.27%	-17.74%	5.57%	-7.55%	-9.96%	-17.42%	-5.00%	-3.80%	-3.23%	-2.38%	-3.65%	-4.38%	-4.77%	-3.21%	-3.17%	-2.87%	-2.53%
Total Capital	85,900M	84,484M	83,747M	77,282M	67,638M	57,078M	49,835M	86,762M	87,013M	83,924M	81,280M	83,440M	84,943M	89,210M	90,496M	74,771M	75,632M	70,746M	67,768M	64,106M	61,801M	57,341M	50,048M	46,180M	54,388M	22,617M	20,291M	17,149M	16,422M	13,235M	15,412M	11,983M	13,097M	13,641M	13,813M	12,824M	14,719M
Return on Total Capital	4.02%	4.20%	4.45%	4.23%	4.42%	5.25%	5.85%	5.22%	3.79%	3.05%	4.62%	4.33%	5.23%	4.78%	4.52%	4.74%	4.18%	3.63%	3.10%	3.80%	4.07%	4.39%	-2.17%	3.07%	3.75%	12.59%	7.74%	8.40%	7.05%	6.82%	8.71%	11.93%	13.28%	8.74%	7.99%	7.95%	6.21%
Capital Employed	89,779M	88,838M	86,057M	81,764M	74,599M	64,801M	55,937M	90,101M	90,763M	88,472M	85,490M	89,365M	86,267M	86,983M	87,806M	79,382M	75,942M	77,677M	76,236M	77,103M	69,981M	64,895M	57,415M	66,246M	61,104M	30,273M	50,474M	33,957M	34,036M	21,141M	21,103M	17,816M	13,731M	12,576M	11,420M	10,374M	9,973M
Return on Capital Employed	3.85%	4.00%	4.33%	4.00%	3.81%	4.10%	5.11%	5.03%	3.64%	2.89%	4.40%	4.05%	5.15%	4.90%	4.66%	4.47%	4.16%	3.30%	2.76%	3.16%	3.60%	3.88%	-1.89%	2.14%	3.34%	9.40%	3.11%	4.24%	3.40%	4.27%	6.36%	8.02%	12.66%	9.48%	9.67%	9.83%	9.16%
Invested Capital	-25,595M	-39,112M	-30,490M	-39,621M	-31,803M	-24,569M	-19,526M	-15,175M	-38,178M	-23,431M	-40,056M	-78,720M	-29,740M	1,210M	-18,375M	-3,178M	-59,254M	-52,401M	-78,351M	-74,641M	-68,938M	-15,083M	-17,348M	-52,380M	12,930M	6,281M	8,765M	5,071M	4,293M	3,383M	5,571M	3,521M	2,971M	5,138M	5,918M	5,405M	9,026M
Return on Invested Capital	-16.47%	-12.68%	13.50%	6.92%	9.32%	13.32%	15.42%	-29.85%	-8.65%	-10.91%	-9.38%	-4.59%	-14.93%	352.56%	-22.26%	-111.61%	-5.33%	-4.90%	-2.69%	-3.26%	-3.65%	-16.69%	6.25%	-2.71%	15.77%	45.33%	17.92%	28.40%	26.95%	26.66%	24.11%	40.59%	58.53%	23.20%	18.65%	18.87%	10.13%

Cash Flow Returns

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
Net Income	3,463M	3,553M	3,727M	3,294M	2,810M	2,499M	2,281M	5,243M	3,580M	4,530M	3,302M	2,556M	3,759M	3,617M	4,441M	4,266M	4,090M	3,547M	3,158M	2,567M	2,104M	2,437M	2,516M	2,518M	-1,084M	1,419M	2,039M	2,847M	1,571M	1,440M	1,157M	902M	1,343M	1,429M	1,739M	1,192M	1,104M	1,020M	914M
Depreciation & Amortization	1,775M	1,765M	1,591M	1,416M	1,233M	1,054M	913M	1,728M	2,036M	1,803M	1,887M	1,636M	1,867M	1,630M	1,315M	1,339M	1,474M	1,502M	1,457M	1,292M	1,381M	1,246M	776M	629M	711M	878M	826M	494M	526M	480M	430M	232M	284M	247M	215M	187M	200M	237M	198M
Return on Depreciation & Amortization	194.16%	201.14%	239.24%	244.24%	239.73%	272.15%	323.14%	303.41%	175.83%	251.25%	174.99%	156.23%	201.34%	221.90%	337.72%	318.60%	277.48%	236.15%	216.75%	198.68%	152.35%	195.59%	324.23%	400.32%	-152.46%	161.62%	246.85%	576.32%	298.67%	300.00%	269.07%	388.79%	472.89%	578.54%	808.84%	637.43%	552.00%	430.38%	461.62%
Deferred Income Tax	-191M	-102M	-105M	-4M	-38M	45M	81M	-117M	-514M	-345M	-383M	155M	257M	-193M	-69M	-525M	133M	-126M	47M	-853M	526M	252M	12M	1,047M	-1,395M	497M	-146M	398M	-55M	383M	428M	96M	453M	530M	454M	260M	257M	100M	237M
Return on Deferred Income Tax	-175.38%	-187.52%	-120.71%	1,404.41%	894.59%	801.75%	757.35%	-4,481.20%	-696.50%	-1,313.04%	-862.14%	1,649.03%	1,462.65%	-1,874.09%	-6,436.23%	-812.57%	3,075.19%	-2,815.08%	6,719.15%	-300.94%	400.00%	967.06%	20,966.67%	240.50%	77.71%	285.51%	-1,396.58%	715.33%	-2,856.36%	375.98%	270.33%	939.58%	296.47%	269.62%	383.04%	458.46%	429.57%	1,020.00%	385.65%
Stock-Based Compensation	122M	184M	159M	106M	80M	64M	53M	0M	0M	0M	0M	365M	324M	231M	306M	0M	0M	364M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	233.42%	685.25%	585.20%	390.13%	292.60%	234.08%	195.07%	0.00%	0.00%	0.00%	0.00%	700.27%	1,160.19%	1,565.80%	1,451.31%	0.00%	0.00%	974.45%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	1,674M	385M	-269M	-552M	-454M	-235M	-295M	-3,884M	-8,256M	-5,451M	925M	9,549M	-2,803M	-294M	-5,539M	934M	-889M	1,036M	-160M	1,695M	-4,425M	-1,623M	-958M	-270M	1,192M	145M	1,022M	-67M	-3,101M	1,068M	1,677M	1,124M	3,663M	-4,331M	-2,432M	0M	-714M	0M	177M
Return on Change in Working Capital	100.21%	-212.75%	-277.86%	-268.01%	-361.64%	-277.80%	-221.83%	-134.99%	-43.36%	-83.10%	356.97%	26.77%	-134.11%	-1,230.27%	-80.18%	456.75%	-460.07%	342.37%	-1,973.75%	151.45%	-47.55%	-150.15%	-262.63%	-932.59%	-90.94%	978.62%	199.51%	-4,249.25%	-50.66%	134.83%	68.99%	80.25%	36.66%	-32.99%	-71.50%	0.00%	-154.62%	0.00%	516.38%
Accounts Receivable	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Receivable	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Inventory	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accounts Payable	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Payable	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	1,674M	385M	-269M	-552M	-541M	-304M	-353M	-3,884M	-8,256M	-5,451M	925M	9,549M	-2,803M	-294M	-5,539M	934M	-889M	1,036M	-160M	1,695M	-4,425M	-1,623M	-958M	-270M	1,192M	430M	-992M	-67M	-3,101M	1,068M	1,677M	1,124M	3,663M	-4,331M	-2,432M	0M	-714M	0M	177M
Return on Other Working Capital	100.21%	-212.75%	-277.86%	-268.01%	-414.32%	-319.95%	-256.95%	-134.99%	-43.36%	-83.10%	356.97%	26.77%	-134.11%	-1,230.27%	-80.18%	456.75%	-460.07%	342.37%	-1,973.75%	151.45%	-47.55%	-150.15%	-262.63%	-932.59%	-90.94%	330.00%	-205.54%	-4,249.25%	-50.66%	134.83%	68.99%	80.25%	36.66%	-32.99%	-71.50%	0.00%	-154.62%	0.00%	516.38%
Other Non-Cash Items	379M	124M	-35M	-101M	37M	72M	68M	125M	126M	150M	197M	790M	-566M	47M	-358M	-18M	-141M	-77M	-375M	-217M	-235M	-691M	-99M	83M	2,831M	-25M	41M	-553M	-53M	-24M	120M	803M	223M	-41M	451M	-73M	-21M	-445M	301M
Return on Other Non-Cash Items	1,673.23%	2,410.26%	-2,123.85%	-1,545.14%	-1,369.86%	-1,408.16%	-1,387.80%	4,194.40%	2,841.27%	3,020.00%	1,676.14%	323.54%	-664.13%	7,695.74%	-1,240.50%	-23,700.00%	-2,900.71%	-4,606.49%	-842.13%	-1,182.95%	-895.32%	-352.68%	-2,541.41%	3,033.73%	-38.29%	-5,676.00%	4,973.17%	-514.83%	-2,964.15%	-6,000.00%	964.17%	112.33%	602.24%	-3,485.37%	385.59%	-1,632.88%	-5,257.14%	-229.21%	303.65%
Net Cash from Operating Activities	7,222M	5,909M	5,068M	4,160M	3,762M	3,574M	3,117M	3,095M	-2,931M	687M	5,912M	15,068M	2,838M	5,038M	96M	5,996M	4,667M	6,246M	4,127M	4,484M	-642M	1,629M	2,211M	4,050M	3,781M	2,914M	3,970M	3,283M	-1,112M	3,347M	3,812M	3,157M	5,966M	-2,166M	-984M	1,566M	826M	912M	1,827M
Return on Net Cash from Operating Activities	244.07%	187.29%	585.46%	393.98%	296.33%	239.40%	206.00%	169.40%	-122.14%	659.39%	55.85%	16.96%	132.45%	71.79%	4,626.04%	71.15%	87.64%	56.79%	76.52%	57.25%	-327.73%	149.60%	113.79%	62.17%	-28.67%	48.70%	51.36%	86.72%	-141.28%	43.02%	30.35%	28.57%	22.51%	-65.97%	-176.73%	76.12%	133.66%	111.84%	50.03%
Capital Expenditures (PPE)	-1,345M	-1,294M	-1,141M	-956M	-781M	-660M	-577M	-1,530M	-1,325M	-1,469M	-1,220M	-1,346M	-1,215M	-1,222M	-1,210M	-1,108M	-1,197M	-825M	-601M	-791M	-609M	-652M	-642M	-230M	-318M	-303M	-313M	-221M	-131M	-262M	-129M	-208M	-165M	-106M	-587M	-88M	-45M	-47M	-54M
Return on Capital Expenditures (PPE)	-256.31%	-274.86%	-342.34%	-396.93%	-461.01%	-530.50%	-707.65%	-342.68%	-270.19%	-308.37%	-270.66%	-189.90%	-309.38%	-295.99%	-367.02%	-385.02%	-341.69%	-429.94%	-525.46%	-324.53%	-345.48%	-373.77%	-391.90%	-1,094.78%	340.88%	-468.32%	-651.44%	-1,288.24%	-1,199.24%	-549.62%	-896.90%	-433.65%	-813.94%	-1,348.11%	-296.25%	-1,354.55%	-2,453.33%	-2,170.21%	-1,692.59%
Acquisitions (Net)	149M	-9,186M	-8,029M	-5,530M	-4,124M	-3,435M	-2,844M	0M	-1,163M	0M	0M	446M	-162M	-46,214M	-9,485M	84M	-24,931M	-37M	8M	36M	65M	-29M	-64M	-2,660M	-364M	-201M	1,431M	-140M	-265M	-137M	-1,844M	-511M	-614M	-286M	587M	-166M	45M	47M	54M
Return on Acquisitions (Net)	191.03%	-351.02%	3,314.88%	2,072.46%	1,409.74%	1,047.44%	1,069.35%	0.00%	-307.82%	0.00%	0.00%	573.09%	-2,320.37%	-7.83%	-46.82%	5,078.57%	-16.41%	-9,586.49%	39,475.00%	7,130.56%	3,236.92%	-8,403.45%	-3,931.25%	-94.66%	297.80%	-705.97%	142.49%	-2,033.57%	-592.83%	-1,051.09%	-62.74%	-176.52%	-218.73%	-499.65%	296.25%	-718.07%	2,453.33%	2,170.21%	1,692.59%
Purchases of Investments	-35,581M	-53,597M	-47,935M	-46,824M	-40,180M	-35,462M	-30,128M	-42,898M	-48,576M	-48,146M	-23,763M	-34,833M	-63,160M	-98,081M	-55,257M	-37,400M	-34,604M	-34,257M	-49,845M	-72,852M	-35,533M	-47,265M	-43,593M	-23,764M	-28,787M	-11,647M	-30,398M	-11,894M	-18,513M	-16,717M	-28,061M	-21,155M	-12,876M	-4,156M	-5,516M	-3,573M	-5,126M	-1,661M	-1,416M
Return on Purchases of Investments	-10.21%	-8.06%	-8.82%	-7.95%	-8.34%	-9.14%	-14.70%	-12.22%	-7.37%	-9.41%	-13.90%	-7.34%	-5.95%	-3.69%	-8.04%	-11.41%	-11.82%	-10.35%	-6.34%	-3.52%	-5.92%	-5.16%	-5.77%	-10.60%	3.77%	-12.18%	-6.71%	-23.94%	-8.49%	-8.61%	-4.12%	-4.26%	-10.43%	-34.38%	-31.53%	-33.36%	-21.54%	-61.41%	-64.55%
Sales / Maturities of Investments	40,245M	49,090M	44,984M	40,804M	34,778M	30,684M	26,014M	39,339M	33,196M	38,799M	41,316M	40,620M	56,923M	67,790M	54,728M	35,689M	29,889M	36,398M	47,688M	51,506M	34,575M	30,238M	28,746M	17,162M	13,260M	11,329M	24,082M	16,965M	17,863M	14,732M	24,054M	19,163M	8,176M	5,399M	2,361M	3,430M	1,773M	1,920M	3,860M
Return on Sales / Maturities of Investments	8.65%	7.58%	8.80%	8.70%	8.45%	9.25%	15.95%	13.33%	10.78%	11.68%	7.99%	6.29%	6.60%	5.34%	8.11%	11.95%	13.68%	9.75%	6.62%	4.98%	6.09%	8.06%	8.75%	14.67%	-8.17%	12.53%	8.47%	16.78%	8.79%	9.77%	4.81%	4.71%	16.43%	26.47%	73.66%	34.75%	62.27%	53.13%	23.68%
Other Investing Activities	-1,940M	4,148M	6,013M	-1,526M	-3,638M	-2,718M	-2,516M	-16,800M	5,412M	1,337M	-22,143M	14,987M	27,286M	-728M	676M	6,034M	-207M	49,924M	-17,037M	10,426M	-11,698M	-11,679M	-64,625M	-5,445M	39,297M	-55,153M	-16,376M	-11,062M	-6,576M	-150M	-523M	5,903M	-987M	559M	2,089M	-4,777M	202M	-192M	-4,848M
Return on Other Investing Activities	113.65%	-28.42%	-140.17%	-97.74%	-76.68%	-103.20%	-84.17%	-31.21%	66.15%	338.82%	-14.91%	17.05%	13.78%	-496.84%	656.95%	70.70%	-1,975.85%	7.10%	-18.54%	24.62%	-17.99%	-20.87%	-3.89%	-46.24%	-2.76%	-2.57%	-12.45%	-25.74%	-23.89%	-960.00%	-221.22%	15.28%	-136.07%	255.64%	83.25%	-24.95%	546.53%	-531.25%	-18.85%
Net Cash from Investing Activities	1,528M	-10,840M	-6,108M	-14,031M	-13,945M	-11,592M	-10,051M	-21,889M	-12,456M	-9,479M	-5,810M	19,874M	19,672M	-78,455M	-10,548M	3,299M	-31,050M	51,203M	-19,787M	-11,675M	-13,200M	-29,387M	-80,178M	-14,937M	23,088M	-55,975M	-21,574M	-6,352M	-7,622M	-2,534M	-6,503M	3,192M	-6,466M	1,410M	-1,066M	-5,174M	-3,151M	67M	-2,404M
Return on Net Cash from Investing Activities	-30.59%	-15.45%	-1.23%	-5.23%	-8.03%	-5.05%	37.89%	-23.95%	-28.74%	-47.79%	-56.83%	12.86%	19.11%	-4.61%	-42.10%	129.31%	-13.17%	6.93%	-15.96%	-21.99%	-15.94%	-8.29%	-3.14%	-16.86%	-4.70%	-2.54%	-9.45%	-44.82%	-20.61%	-56.83%	-17.79%	28.26%	-20.77%	101.35%	-163.13%	-23.04%	-35.04%	1,522.39%	-38.02%
Net Debt Issuance	1,973M	95M	241M	648M	702M	539M	452M	859M	2,444M	-167M	501M	5,585M	1,351M	-6,797M	-5,710M	521M	8,619M	-2,423M	933M	349M	943M	2,714M	2,582M	719M	-1,773M	220M	2,419M	1,687M	1,772M	-505M	1,401M	-2,679M	1,718M	-505M	659M	-510M	828M	-2,488M	1,607M
Return on Net Debt Issuance	-669.24%	-356.54%	-80.21%	46.26%	87.09%	52.03%	49.34%	610.36%	146.48%	-2,712.57%	659.08%	45.77%	278.24%	-53.21%	-77.78%	818.81%	47.45%	-146.39%	338.48%	735.53%	223.12%	89.79%	97.44%	350.21%	61.14%	645.00%	84.29%	168.76%	88.66%	-285.15%	82.58%	-33.67%	78.17%	-282.97%	263.88%	-233.73%	133.33%	-41.00%	56.88%
Long-Term Debt Issuance	2,044M	892M	1,160M	867M	965M	824M	704M	-1,073M	2,876M	-226M	428M	5,929M	536M	-2,207M	-2,257M	1,493M	3,692M	3,276M	933M	310M	1,185M	-1,402M	2,582M	-1,267M	1,468M	-1,435M	3,486M	960M	1,818M	-267M	742M	225M	395M	212M	710M	571M	-23M	84M	-824M
Return on Long-Term Debt Issuance	-396.61%	-130.48%	-0.59%	48.31%	49.67%	81.00%	-40.60%	-488.63%	124.48%	-2,004.42%	771.50%	43.11%	701.31%	-163.89%	-196.77%	285.73%	110.78%	108.27%	338.48%	828.06%	177.55%	-173.82%	97.44%	-198.74%	-73.84%	-98.89%	58.49%	296.56%	86.41%	-539.33%	155.93%	400.89%	340.00%	674.06%	244.93%	208.76%	-4,800.00%	1,214.29%	-110.92%
Short-Term Debt Issuance	-71M	-797M	-918M	-219M	-263M	-285M	-252M	1,932M	-432M	59M	73M	-344M	815M	-4,590M	-3,453M	-972M	4,927M	-5,699M	0M	39M	-242M	4,116M	0M	1,986M	-3,241M	1,655M	-1,067M	727M	-46M	-238M	659M	-2,904M	1,323M	-717M	-51M	-1,081M	851M	-2,572M	2,431M
Return on Short-Term Debt Issuance	3,819.41%	2,368.13%	1,129.39%	1,146.17%	704.85%	541.55%	338.21%	271.38%	-828.70%	7,677.97%	4,523.29%	-743.02%	461.23%	-78.80%	-128.61%	-438.89%	83.01%	-62.24%	0.00%	6,582.05%	-869.42%	59.21%	0.00%	126.79%	33.45%	85.74%	-191.10%	391.61%	-3,415.22%	-605.04%	175.57%	-31.06%	101.51%	-199.30%	-3,409.80%	-110.27%	129.73%	-39.66%	37.60%
Net Stock Issuance	-2,086M	-2,104M	-2,216M	-1,621M	-1,222M	-952M	-919M	-2,739M	-3,255M	-3,047M	-3,088M	-124M	-4,267M	7M	-3,327M	-3,229M	-2,686M	-1,381M	-1,013M	-1,669M	-244M	-55M	-848M	656M	-1,657M	2,511M	-93M	-709M	-174M	108M	1,212M	-40M	-526M	-113M	-1,325M	-370M	-1,061M	-922M	-93M
Return on Net Stock Issuance	-772.30%	9,853.29%	4,828.00%	2,861.34%	1,977.26%	1,487.96%	1,184.94%	-191.42%	-109.98%	-148.67%	-106.93%	-2,061.29%	-88.09%	51,671.43%	-133.48%	-132.12%	-152.27%	-256.84%	-311.75%	-153.80%	-862.30%	-4,430.91%	-296.70%	383.84%	65.42%	56.51%	-2,192.47%	-401.55%	-902.87%	1,333.33%	95.46%	-2,255.00%	-255.32%	-1,264.60%	-131.25%	-322.16%	-104.05%	-110.63%	-982.80%
Common Stock Issuance	16M	14M	22M	68M	143M	124M	103M	18M	17M	17M	16M	14M	13M	12M	21M	40M	34M	27M	26M	26M	25M	25M	25M	697M	1,371M	40M	20M	174M	243M	227M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Issuance	21,847.23%	24,919.75%	19,372.40%	15,479.09%	12,406.62%	9,950.67%	8,292.23%	29,127.78%	21,058.82%	26,647.06%	20,637.50%	18,257.14%	28,915.38%	30,141.67%	21,147.62%	10,665.00%	12,029.41%	13,137.04%	12,146.15%	9,873.08%	8,416.00%	9,748.00%	10,064.00%	361.26%	-79.07%	3,547.50%	10,195.00%	1,636.21%	646.50%	634.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Repurchased	-2,097M	-2,370M	-2,588M	-2,043M	-1,619M	-1,300M	-1,084M	-3,240M	-3,264M	-3,064M	-3,104M	-124M	-4,567M	-989M	-3,327M	-3,269M	-2,686M	-2,398M	-2,355M	-1,669M	-1,026M	-1,148M	-873M	-41M	-28M	-308M	-113M	-883M	-417M	-119M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Repurchased	-771.84%	-552.71%	-346.18%	-697.51%	-477.78%	-430.62%	-358.85%	-161.82%	-109.68%	-147.85%	-106.38%	-2,061.29%	-82.31%	-365.72%	-133.48%	-130.50%	-152.27%	-147.91%	-134.10%	-153.80%	-205.07%	-212.28%	-288.20%	-6,141.46%	3,871.43%	-460.71%	-1,804.42%	-322.42%	-376.74%	-1,210.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	-5M	251M	219M	216M	151M	121M	100M	483M	-8M	0M	0M	-14M	287M	984M	-21M	0M	-34M	990M	0M	-26M	0M	1,068M	0M	0M	-3,000M	2,779M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock Issuance	-6,085.71%	-3,315.96%	-4,939.86%	-3,936.23%	-2,947.81%	-2,358.25%	-1,965.21%	1,085.51%	-44,750.00%	0.00%	0.00%	-18,257.14%	1,309.76%	367.58%	-21,147.62%	0.00%	-12,029.41%	358.28%	0.00%	-9,873.08%	0.00%	228.18%	0.00%	0.00%	36.13%	51.06%	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%
Net Dividends Paid	-1,468M	-1,405M	-1,238M	-1,042M	-981M	-894M	-806M	-1,643M	-1,532M	-1,542M	-1,487M	-1,376M	-1,323M	-1,296M	-1,289M	-1,221M	-1,076M	-900M	-865M	-833M	-744M	-641M	-593M	-440M	-672M	-1,129M	-884M	-656M	-644M	-608M	-563M	-549M	-526M	-484M	-435M	-403M	-383M	-338M	-272M
Return on Net Dividends Paid	-233.86%	-252.96%	-309.80%	-337.72%	-296.94%	-283.84%	-290.58%	-319.11%	-233.68%	-293.77%	-222.06%	-185.76%	-284.13%	-279.09%	-344.53%	-349.39%	-380.11%	-394.11%	-365.09%	-308.16%	-282.80%	-380.19%	-424.28%	-572.27%	161.31%	-125.69%	-230.66%	-433.99%	-243.94%	-236.84%	-205.51%	-164.30%	-255.32%	-295.25%	-399.77%	-295.78%	-288.25%	-301.78%	-336.03%
Common Dividends Paid	-1,258M	-1,204M	-1,063M	-915M	-881M	-814M	-739M	-1,419M	-1,327M	-1,348M	-1,262M	-1,165M	-1,126M	-1,117M	-1,120M	-1,052M	-901M	-778M	-760M	-760M	-680M	-623M	-593M	-440M	-599M	-1,107M	-884M	-656M	-644M	-608M	-563M	-549M	-526M	-484M	-435M	-403M	-383M	-338M	-272M
Return on Common Dividends Paid	-272.37%	-294.95%	-360.22%	-375.80%	-324.64%	-306.00%	-309.06%	-369.49%	-269.78%	-336.05%	-261.65%	-219.40%	-333.84%	-323.81%	-396.52%	-405.51%	-453.94%	-455.91%	-415.53%	-337.76%	-309.41%	-391.17%	-424.28%	-572.27%	180.97%	-128.18%	-230.66%	-433.99%	-243.94%	-236.84%	-205.51%	-164.30%	-255.32%	-295.25%	-399.77%	-295.78%	-288.25%	-301.78%	-336.03%
Preferred Dividends Paid	-210M	-201M	-175M	-127M	-100M	-80M	-67M	-224M	-205M	-194M	-225M	-211M	-197M	-179M	-169M	-169M	-175M	-122M	-105M	-73M	-64M	-18M	0M	0M	-73M	-22M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Dividends Paid	-1,671.33%	-1,788.55%	-2,234.70%	-2,845.99%	-2,382.74%	-1,906.20%	-1,588.50%	-2,340.63%	-1,746.34%	-2,335.05%	-1,467.56%	-1,211.37%	-1,908.12%	-2,020.67%	-2,627.81%	-2,524.26%	-2,337.14%	-2,907.38%	-3,007.62%	-3,516.44%	-3,287.50%	-13,538.89%	0.00%	0.00%	1,484.93%	-6,450.00%	0.00%	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	-8,697M	7,937M	3,901M	11,894M	11,698M	9,372M	8,260M	22,106M	17,680M	11,094M	555M	-37,739M	-17,773M	83,548M	19,785M	-4,169M	21,923M	-54,346M	16,130M	9,982M	15,666M	26,270M	77,624M	9,855M	-23,871M	50,151M	20,026M	2,157M	7,100M	500M	-201M	-1,462M	-244M	1,750M	2,415M	3,199M	2,604M	4,122M	1,148M
Return on Other Financing Activities	209.67%	122.44%	56.40%	42.75%	40.65%	-0.21%	8.36%	23.72%	20.25%	40.83%	594.95%	-6.77%	-21.15%	4.33%	22.45%	-102.33%	18.66%	-6.53%	19.58%	25.72%	13.43%	9.28%	3.24%	25.55%	4.54%	2.83%	10.18%	131.99%	22.13%	288.00%	-575.62%	-61.70%	-550.41%	81.66%	72.01%	37.26%	42.40%	24.75%	79.62%
Net Cash from Financing Activities	-10,278M	4,542M	699M	9,885M	10,203M	8,070M	6,991M	18,583M	15,337M	6,338M	-3,519M	-33,654M	-21,962M	75,508M	9,459M	-8,098M	26,780M	-59,050M	15,185M	7,829M	15,621M	28,288M	78,765M	10,790M	-27,973M	51,753M	21,468M	2,479M	8,054M	-505M	1,849M	-4,730M	422M	648M	1,314M	1,916M	1,988M	374M	2,390M
Return on Net Cash from Financing Activities	-9.98%	-8.46%	-1.79%	4.23%	10.70%	20.44%	35.74%	28.21%	23.34%	71.47%	-93.83%	-7.59%	-17.12%	4.79%	46.95%	-52.68%	15.27%	-6.01%	20.80%	32.79%	13.47%	8.61%	3.19%	23.34%	3.88%	2.74%	9.50%	114.84%	19.51%	-285.15%	62.57%	-19.07%	318.25%	220.52%	132.34%	62.21%	55.53%	272.73%	38.24%
Effect of FX on Cash	92M	51M	30M	-7M	-22M	-29M	-25M	12M	-95M	-311M	230M	358M	-84M	61M	2M	-72M	189M	-114M	42M	-128M	-46M	22M	-298M	40M	-53M	-438M	-69M	-85M	309M	-265M	-63M	-93M	175M	-43M	13M	-78M	74M	-32M	-5M
Return on Effect of FX on Cash	231.01%	429.51%	22,484.42%	15,652.85%	11,535.90%	8,992.50%	7,222.85%	43,691.67%	-3,768.42%	-1,456.59%	1,435.65%	713.97%	-4,475.00%	5,929.51%	222,050.00%	-5,925.00%	2,164.02%	-3,111.40%	7,519.05%	-2,005.47%	-4,573.91%	11,077.27%	-844.30%	6,295.00%	2,045.28%	-323.97%	-2,955.07%	-3,349.41%	508.41%	-543.40%	-1,836.51%	-969.89%	767.43%	-3,323.26%	13,376.92%	-1,528.21%	1,491.89%	-3,187.50%	-18,280.00%
Net Change in Cash	-1,435M	-338M	-314M	6M	-3M	22M	31M	-199M	-145M	-2,765M	-3,187M	1,646M	464M	2,152M	-991M	1,125M	560M	-1,715M	-433M	510M	1,733M	552M	500M	-57M	-1,157M	-1,746M	3,795M	-675M	-371M	43M	-905M	1,526M	97M	-151M	-723M	-1,770M	-263M	1,321M	1,808M
Return on Net Change in Cash	-37.39%	173.21%	59.13%	-150.45%	-151.79%	27.30%	2.75%	-2,634.67%	-2,468.97%	-163.83%	-103.61%	155.29%	810.13%	168.08%	-448.13%	379.20%	730.36%	-206.82%	-729.33%	503.33%	121.41%	441.49%	503.20%	-4,417.54%	93.69%	-81.27%	53.73%	-421.78%	-423.45%	3,348.84%	-127.85%	59.11%	1,384.54%	-946.36%	-240.53%	-67.34%	-419.77%	77.21%	50.55%
Cash at Beginning of Period	9,918M	9,288M	8,016M	6,862M	6,235M	5,716M	5,544M	30,145M	30,879M	8,342M	11,529M	9,883M	9,419M	7,267M	8,258M	7,133M	4,822M	6,537M	6,970M	6,460M	4,727M	4,175M	3,675M	3,732M	4,889M	6,635M	2,840M	3,515M	3,886M	3,843M	4,748M	3,222M	3,125M	3,276M	3,999M	5,769M	6,032M	4,711M	2,903M
Return on Cash at Beginning of Period	36.27%	39.70%	49.65%	51.67%	48.37%	45.76%	42.65%	17.39%	11.59%	54.30%	28.64%	25.86%	39.91%	49.77%	53.78%	59.81%	84.82%	54.26%	45.31%	39.74%	44.51%	58.37%	68.46%	67.47%	-22.17%	21.39%	71.80%	81.00%	40.43%	37.47%	24.37%	28.00%	42.98%	43.62%	43.49%	20.66%	18.30%	21.65%	31.48%
Cash at End of Period	8,483M	8,950M	7,702M	6,868M	6,232M	5,738M	5,575M	29,946M	30,734M	5,577M	8,342M	11,529M	9,883M	9,419M	7,267M	8,258M	5,382M	4,822M	6,537M	6,970M	6,460M	4,727M	4,175M	3,675M	3,732M	4,889M	6,635M	2,840M	3,515M	3,886M	3,843M	4,748M	3,222M	3,125M	3,276M	3,999M	5,769M	6,032M	4,711M
Return on Cash at End of Period	47.66%	43.88%	53.00%	51.99%	47.77%	45.16%	42.24%	17.51%	11.65%	81.23%	39.58%	22.17%	38.04%	38.40%	61.11%	51.66%	75.99%	73.56%	48.31%	36.83%	32.57%	51.55%	60.26%	68.52%	-29.05%	29.02%	30.73%	100.25%	44.69%	37.06%	30.11%	19.00%	41.68%	45.73%	53.08%	29.81%	19.14%	16.91%	19.40%
Operating Cash Flow	7,222M	5,909M	5,065M	4,159M	3,761M	3,573M	3,116M	3,095M	-2,931M	687M	5,912M	15,068M	2,838M	5,038M	96M	5,996M	4,641M	6,246M	4,127M	4,484M	-642M	1,629M	2,211M	4,050M	3,781M	2,914M	3,970M	3,283M	-1,112M	3,347M	3,812M	3,157M	5,966M	-2,166M	-984M	1,566M	826M	912M	1,827M
Return on Operating Cash Flow	244.07%	187.29%	585.51%	394.01%	296.35%	239.42%	206.01%	169.40%	-122.14%	659.39%	55.85%	16.96%	132.45%	71.79%	4,626.04%	71.15%	88.13%	56.79%	76.52%	57.25%	-327.73%	149.60%	113.79%	62.17%	-28.67%	48.70%	51.36%	86.72%	-141.28%	43.02%	30.35%	28.57%	22.51%	-65.97%	-176.73%	76.12%	133.66%	111.84%	50.03%
Capital Expenditure	-1,345M	-1,294M	-1,141M	-956M	-781M	-660M	-577M	-1,530M	-1,325M	-1,469M	-1,220M	-1,346M	-1,215M	-1,222M	-1,210M	-1,108M	-1,197M	-825M	-601M	-791M	-609M	-652M	-642M	-230M	-318M	-303M	-313M	-221M	-131M	-262M	-129M	-208M	-165M	-106M	-587M	-88M	-45M	-47M	-54M
Return on Capital Expenditure	-256.31%	-274.86%	-342.34%	-396.93%	-461.01%	-530.50%	-707.65%	-342.68%	-270.19%	-308.37%	-270.66%	-189.90%	-309.38%	-295.99%	-367.02%	-385.02%	-341.69%	-429.94%	-525.46%	-324.53%	-345.48%	-373.77%	-391.90%	-1,094.78%	340.88%	-468.32%	-651.44%	-1,288.24%	-1,199.24%	-549.62%	-896.90%	-433.65%	-813.94%	-1,348.11%	-296.25%	-1,354.55%	-2,453.33%	-2,170.21%	-1,692.59%
Free Cash Flow	5,877M	4,614M	3,924M	3,203M	2,980M	2,914M	2,539M	1,565M	-4,256M	-782M	4,692M	13,722M	1,623M	3,816M	-1,114M	4,888M	3,444M	5,421M	3,526M	3,693M	-1,251M	977M	1,569M	3,820M	3,463M	2,611M	3,657M	3,062M	-1,243M	3,085M	3,683M	2,949M	5,801M	-2,272M	-1,571M	1,478M	781M	865M	1,773M
Return on Free Cash Flow	-163.43%	-32.78%	-20.15%	11.70%	11.05%	11.59%	19.02%	335.02%	-84.12%	-579.28%	70.38%	18.63%	231.61%	94.79%	-398.65%	87.27%	118.76%	65.43%	89.56%	69.51%	-168.19%	249.44%	160.36%	65.92%	-31.30%	54.35%	55.76%	92.98%	-126.39%	46.68%	31.41%	30.59%	23.15%	-62.90%	-110.69%	80.65%	141.36%	117.92%	51.55%

Free Cash Flow Returns

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
Net Income	3,463M	3,553M	3,727M	3,295M	2,905M	2,575M	2,298M	5,243M	3,677M	4,530M	3,286M	2,573M	3,759M	3,617M	4,441M	4,266M	4,090M	3,547M	3,158M	2,567M	2,111M	2,445M	2,480M	2,561M	442M	1,419M	2,227M	3,011M	1,571M	1,440M	1,157M	902M	1,343M	1,429M	328M	1,192M	1,104M	1,020M	914M
EBITDA	6,360M	6,338M	6,313M	5,765M	4,850M	4,318M	3,954M	8,413M	6,609M	7,651M	6,170M	5,258M	6,515M	6,098M	6,902M	6,531M	6,084M	6,227M	5,692M	4,855M	5,166M	4,603M	4,393M	4,323M	-1,497M	2,824M	4,035M	2,660M	2,504M	2,320M	2,192M	1,604M	2,342M	2,498M	3,055M	2,078M	1,973M	1,891M	1,680M
Return on EBITDA	53.80%	55.68%	58.77%	56.69%	55.11%	55.51%	54.01%	62.32%	55.64%	59.21%	53.26%	48.93%	57.70%	59.31%	64.34%	65.32%	67.23%	56.96%	55.48%	52.87%	40.86%	53.12%	56.45%	59.24%	-29.53%	50.25%	55.19%	113.20%	62.74%	62.07%	52.78%	56.23%	57.34%	57.21%	10.74%	57.36%	55.96%	53.94%	54.40%
(-) Tax Adjustment	1,511M	1,382M	1,304M	1,341M	1,233M	1,137M	1,083M	1,780M	1,461M	1,707M	1,410M	1,416M	1,229M	1,149M	1,384M	1,180M	655M	1,551M	1,362M	1,243M	2,177M	1,155M	1,273M	1,225M	946M	713M	1,239M	851M	804M	740M	753M	549M	814M	912M	1,184M	768M	744M	725M	644M
Return on (-) Tax Adjustment	226.69%	260.12%	306.86%	265.85%	248.14%	231.88%	213.69%	294.63%	251.59%	265.32%	233.00%	181.74%	305.79%	314.75%	320.97%	361.55%	624.82%	228.67%	231.95%	206.57%	96.95%	211.78%	194.84%	209.01%	46.73%	199.15%	179.78%	353.94%	195.43%	194.56%	153.72%	164.16%	165.05%	156.65%	27.69%	155.18%	148.29%	140.72%	141.95%
(-) Change In Working Capital	1,674M	385M	-269M	-552M	-454M	-235M	-295M	-3,884M	-8,256M	-5,451M	925M	9,549M	-2,803M	-294M	-5,539M	934M	-889M	1,036M	-160M	1,695M	-4,425M	-1,623M	-958M	-270M	1,192M	145M	1,022M	-67M	-3,101M	1,068M	1,677M	1,124M	3,663M	-4,331M	-2,432M	0M	-714M	0M	177M
Return on (-) Change In Working Capital	99.69%	-213.06%	-278.02%	-268.96%	-367.28%	-282.31%	-223.65%	-134.99%	-44.54%	-83.10%	355.24%	26.95%	-134.11%	-1,230.27%	-80.18%	456.75%	-460.07%	342.37%	-1,973.75%	151.45%	-47.71%	-150.65%	-258.87%	-948.52%	37.08%	978.62%	217.91%	-4,494.03%	-50.66%	134.83%	68.99%	80.25%	36.66%	-32.99%	-13.49%	0.00%	-154.62%	0.00%	516.38%
(-) Capital Expenditure	-1,345M	-1,294M	-1,141M	-956M	-781M	-660M	-577M	-1,530M	-1,325M	-1,469M	-1,220M	-1,346M	-1,215M	-1,222M	-1,210M	-1,108M	-1,197M	-825M	-601M	-791M	-609M	-652M	-642M	-230M	-318M	-303M	-313M	-221M	-131M	-262M	-129M	-208M	-165M	-106M	-587M	-88M	-45M	-47M	-54M
Return on (-) Capital Expenditure	-256.29%	-274.85%	-342.34%	-397.95%	-492.49%	-555.68%	-720.62%	-342.68%	-277.51%	-308.37%	-269.34%	-191.16%	-309.38%	-295.99%	-367.02%	-385.02%	-341.69%	-429.94%	-525.46%	-324.53%	-346.63%	-375.00%	-386.29%	-1,113.48%	-138.99%	-468.32%	-711.50%	-1,362.44%	-1,199.24%	-549.62%	-896.90%	-433.65%	-813.94%	-1,348.11%	-55.88%	-1,354.55%	-2,453.33%	-2,170.21%	-1,692.59%
Unlevered Free Cash Flow	1,829M	3,276M	4,136M	4,019M	3,289M	2,756M	2,589M	8,987M	12,079M	9,926M	2,615M	-7,053M	6,874M	4,021M	9,847M	3,309M	5,121M	2,815M	3,889M	1,126M	6,805M	4,419M	3,436M	3,138M	-3,953M	1,663M	1,461M	1,655M	4,670M	250M	-367M	-277M	-2,300M	5,811M	3,716M	1,222M	1,898M	1,119M	805M
Return on Unlevered Free Cash Flow	44.94%	55.90%	74.06%	80.57%	82.53%	62.10%	64.06%	58.34%	30.44%	45.64%	125.68%	-36.48%	54.69%	89.96%	45.10%	128.92%	79.86%	126.01%	81.19%	227.92%	31.02%	55.32%	72.17%	81.62%	-11.18%	85.30%	152.40%	181.90%	33.64%	576.30%	-315.56%	-325.07%	-58.40%	24.59%	8.83%	97.55%	58.18%	91.14%	113.52%
(-) Net Interest Income After Taxes	3,087M	2,760M	2,692M	2,483M	2,381M	2,114M	1,952M	3,778M	3,286M	3,350M	3,352M	2,561M	2,124M	2,416M	2,549M	2,959M	2,952M	2,356M	2,302M	2,143M	1,741M	2,227M	2,119M	2,096M	4,757M	2,138M	1,556M	1,020M	910M	788M	1,057M	1,095M	1,097M	1,187M	1,042M	1,041M	1,155M	1,209M	1,251M
Return on (-) Net Interest Income After Taxes	111.25%	132.09%	140.51%	133.01%	134.10%	131.98%	123.28%	138.76%	111.90%	135.23%	98.04%	100.49%	176.98%	149.71%	174.23%	144.19%	138.55%	150.53%	137.17%	119.80%	121.27%	109.77%	117.01%	122.19%	9.29%	66.38%	143.14%	295.31%	172.67%	182.77%	109.51%	82.40%	122.43%	120.37%	31.49%	114.54%	95.58%	84.34%	73.04%
Net Debt Issuance	1,973M	95M	241M	648M	702M	539M	452M	859M	2,444M	-167M	501M	5,585M	1,351M	-6,797M	-5,710M	521M	8,619M	-2,423M	933M	349M	943M	2,714M	2,582M	719M	-1,773M	220M	2,419M	1,687M	1,772M	-505M	1,401M	-2,679M	1,718M	-505M	659M	-510M	828M	-2,488M	1,607M
Return on Net Debt Issuance	-670.21%	-357.12%	-80.50%	46.45%	83.80%	49.40%	40.01%	610.36%	150.45%	-2,712.57%	655.89%	46.07%	278.24%	-53.21%	-77.78%	818.81%	47.45%	-146.39%	338.48%	735.53%	223.86%	90.09%	96.05%	356.19%	-24.93%	645.00%	92.06%	178.48%	88.66%	-285.15%	82.58%	-33.67%	78.17%	-282.97%	49.77%	-233.73%	133.33%	-41.00%	56.88%
Levered Free Cash Flow	715M	611M	1,686M	2,184M	1,610M	1,181M	1,090M	6,068M	11,236M	6,409M	-236M	-4,028M	6,101M	-5,192M	1,588M	871M	10,788M	-1,964M	2,520M	-668M	6,007M	4,906M	3,899M	1,761M	-10,482M	-254M	2,324M	2,323M	5,532M	-1,043M	-22M	-4,051M	-1,679M	4,119M	3,333M	-329M	1,570M	-2,578M	1,161M
Return on Levered Free Cash Flow	-461.55%	-278.54%	-64.09%	-48.76%	-52.01%	-258.50%	-223.52%	86.40%	32.72%	70.68%	-1,391.46%	-63.87%	61.62%	-69.66%	279.58%	489.52%	37.91%	-180.56%	125.30%	-384.55%	35.14%	49.84%	63.61%	145.45%	-4.22%	-558.29%	95.81%	129.63%	28.40%	-138.06%	-5,216.70%	-22.27%	-80.00%	34.70%	9.84%	-362.49%	70.30%	-39.56%	78.74%