Singapore Telecommunications Limited (Z74.SI)

Category: Company Returns Sector: Communication Services Industry: Telecommunications Services Live Price: $4.49

Income Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Net Income	1,817M	1,478M	2,084M	2,357M	2,514M	4,708M	4,148M	3,111M	616M	1,723M	1,509M	429M	832M	2,396M	4,238M	2,984M	2,998M	2,928M	2,828M	2,717M	3,089M	2,962M	3,026M	2,670M	3,067M	2,926M	3,224M	2,531M	3,473M	1,085M	1,263M
Revenue	11,074M	11,443M	12,293M	12,798M	12,431M	21,804M	22,721M	10,955M	10,940M	11,325M	11,879M	12,115M	12,811M	13,453M	13,373M	12,941M	13,135M	13,338M	13,047M	14,081M	14,579M	13,994M	13,065M	11,565M	11,496M	10,359M	10,175M	9,771M	9,289M	7,944M	5,629M
Return on Revenue	16.41%	13.10%	16.74%	18.18%	20.28%	21.59%	18.26%	28.40%	5.63%	15.21%	12.70%	3.54%	6.50%	17.81%	31.69%	23.05%	22.82%	21.96%	21.68%	19.29%	21.19%	21.17%	23.16%	23.09%	26.68%	28.25%	31.69%	25.90%	37.39%	13.65%	22.44%
Cost of Revenue	5,815M	7,398M	8,318M	6,642M	6,960M	16,625M	17,648M	0M	8,314M	9,130M	9,688M	9,860M	9,814M	9,799M	9,441M	8,715M	8,414M	1,663M	1,366M	1,590M	1,704M	10,130M	9,385M	8,205M	8,048M	7,134M	6,802M	6,204M	6,016M	5,082M	3,294M
Return on Cost of Revenue	8.76%	9.24%	19.39%	63.89%	57.48%	28.32%	23.50%	0.00%	7.41%	18.87%	15.58%	4.35%	8.48%	24.45%	44.89%	34.24%	35.63%	176.10%	206.99%	170.86%	181.24%	29.24%	32.24%	32.55%	38.11%	41.02%	47.40%	40.80%	57.73%	21.34%	38.35%
Gross Profit	5,259M	4,044M	3,975M	6,156M	5,471M	5,179M	5,072M	10,955M	2,627M	2,195M	2,191M	2,255M	2,996M	3,653M	3,932M	4,227M	4,721M	11,675M	11,681M	12,491M	12,874M	3,864M	3,680M	3,360M	3,448M	3,225M	3,373M	3,567M	3,273M	2,863M	2,335M
Return on Gross Profit	43.45%	43.65%	55.35%	48.35%	58.11%	90.91%	81.77%	28.40%	23.44%	78.50%	68.88%	19.01%	27.77%	65.59%	107.80%	70.59%	63.49%	25.08%	24.21%	21.75%	23.99%	76.67%	82.23%	79.47%	88.96%	90.73%	95.60%	70.95%	106.11%	37.89%	54.10%
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
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%
SG&A Expenses	1,455M	1,485M	1,781M	2,071M	1,553M	2,178M	2,212M	1,415M	1,464M	1,485M	1,503M	1,560M	1,616M	1,915M	1,964M	2,263M	2,621M	2,911M	3,061M	3,547M	3,736M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on SG&A Expenses	125.98%	101.16%	114.45%	99.78%	74.84%	216.16%	187.54%	219.87%	42.06%	116.02%	100.38%	27.50%	51.49%	125.15%	215.76%	131.86%	114.38%	100.60%	92.40%	76.60%	82.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses	4,437M	3,274M	2,675M	5,190M	4,234M	4,333M	1,791M	9,122M	2,702M	1,485M	1,503M	1,560M	1,616M	1,915M	1,964M	2,263M	2,621M	9,471M	9,381M	10,165M	10,423M	11,655M	1,381M	1,270M	1,401M	1,346M	1,444M	1,486M	1,842M	1,760M	1,012M
Return on Operating Expenses	57.64%	60.16%	93.94%	72.15%	108.56%	108.65%	231.61%	34.10%	22.79%	116.02%	100.38%	27.50%	51.49%	125.15%	215.76%	131.86%	114.38%	30.92%	30.15%	26.73%	29.64%	25.42%	219.11%	210.19%	218.96%	217.46%	223.22%	170.27%	188.50%	61.63%	124.85%
Operating Income (EBIT)	1,088M	930M	1,380M	1,722M	1,858M	845M	1,644M	1,832M	723M	710M	687M	696M	1,380M	1,739M	1,967M	1,964M	2,100M	2,280M	2,429M	2,348M	2,496M	2,483M	2,303M	1,907M	2,008M	2,284M	2,821M	2,199M	3,659M	568M	1,537M
Return on Operating Income (EBIT)	165.89%	155.77%	148.70%	139.38%	137.86%	557.05%	252.30%	169.78%	85.15%	242.73%	219.52%	61.65%	60.29%	137.84%	215.46%	151.91%	142.71%	128.44%	116.43%	115.70%	123.73%	119.31%	131.41%	140.02%	152.71%	128.13%	114.30%	115.12%	94.92%	190.93%	82.19%
Interest Income	70M	43M	31M	32M	43M	157M	94M	76M	85M	47M	3M	3M	6M	6M	13M	29M	39M	36M	38M	36M	35M	26M	0M	38M	167M	68M	106M	70M	241M	6M	146M
Return on Interest Income	2,814.71%	16,080.17%	18,256.08%	15,053.80%	12,105.82%	2,996.35%	4,415.50%	4,070.31%	720.11%	3,653.69%	55,671.43%	16,285.29%	13,955.84%	37,283.13%	32,969.88%	10,301.34%	7,649.80%	8,185.06%	7,422.76%	7,496.37%	8,824.56%	11,317.46%	0.00%	7,110.10%	1,831.73%	4,328.52%	3,038.91%	3,639.64%	1,441.13%	18,925.68%	865.87%
Interest Expense	332M	330M	318M	303M	305M	719M	669M	329M	329M	338M	330M	321M	356M	304M	302M	287M	282M	239M	226M	260M	333M	315M	259M	279M	304M	326M	377M	378M	369M	414M	210M
Return on Interest Expense	547.20%	446.46%	676.12%	810.01%	851.75%	655.20%	619.69%	945.49%	187.06%	509.06%	457.18%	133.52%	234.02%	787.81%	1,402.61%	1,040.43%	1,063.99%	1,224.98%	1,250.26%	1,044.45%	928.47%	940.80%	1,168.80%	956.03%	1,007.94%	896.73%	855.41%	669.07%	941.39%	262.07%	600.85%
Net Interest Income	-262M	-286M	-286M	-271M	-262M	-536M	-575M	-253M	-244M	-289M	-326M	-318M	-350M	-296M	-289M	-258M	-243M	-203M	-188M	-224M	-298M	-289M	-259M	-242M	-137M	-259M	-271M	-309M	-128M	-408M	-64M
Return on Net Interest Income	-693.82%	-535.70%	-758.51%	-920.43%	-1,032.13%	-878.81%	-720.86%	-1,231.58%	-252.70%	-597.18%	-462.28%	-134.75%	-238.01%	-810.50%	-1,464.94%	-1,157.31%	-1,235.89%	-1,440.57%	-1,503.50%	-1,213.52%	-1,037.64%	-1,026.10%	-1,168.80%	-1,104.55%	-2,241.20%	-1,131.04%	-1,190.53%	-819.76%	-2,714.77%	-265.75%	-1,963.06%
Unusual Items	-336M	116M	198M	-106M	-291M	-4,001M	-2,046M	-1,472M	222M	243M	166M	1,419M	1,508M	346M	-1,113M	320M	340M	-973M	-750M	-627M	-547M	-672M	-924M	-907M	-1,327M	-673M	-393M	-114M	-542M	77M	-42M
Return on Unusual Items	258.63%	343.07%	389.55%	118.56%	-16.50%	-117.66%	-202.76%	-211.34%	277.00%	710.21%	909.24%	30.22%	55.20%	693.37%	-380.84%	931.95%	880.53%	-300.98%	-377.16%	-433.18%	-564.73%	-441.06%	-327.38%	-294.31%	-231.17%	-434.59%	-821.00%	-2,211.37%	-640.96%	1,408.95%	-2,982.27%
EBT Excluding Unusual Items	2,022M	985M	1,271M	2,206M	2,701M	9,410M	6,311M	5,029M	522M	516M	683M	-1,824M	-1,285M	1,345M	4,482M	1,582M	1,662M	4,429M	4,117M	3,827M	3,888M	4,115M	4,410M	3,964M	4,798M	3,889M	3,877M	2,736M	4,871M	822M	1,686M
Return on EBT Excluding Unusual Items	171.24%	142.24%	128.82%	109.69%	100.19%	50.04%	65.73%	61.86%	117.92%	333.95%	220.99%	-23.51%	-64.75%	178.16%	94.56%	188.65%	180.35%	66.12%	68.70%	71.00%	79.45%	71.99%	68.61%	67.37%	63.91%	75.24%	83.16%	92.50%	71.31%	131.91%	74.93%
Pre-Tax Income	1,687M	1,101M	1,469M	2,100M	2,411M	5,408M	4,265M	3,557M	744M	759M	849M	-405M	222M	1,691M	3,369M	1,902M	2,003M	3,456M	3,367M	3,199M	3,341M	3,443M	3,486M	3,056M	3,472M	3,216M	3,484M	2,622M	4,329M	899M	1,644M
Return on Pre-Tax Income	132.44%	93.84%	141.76%	123.32%	114.79%	87.06%	97.25%	87.46%	82.71%	227.14%	177.78%	-105.89%	374.29%	141.74%	125.79%	156.89%	149.69%	84.73%	83.99%	84.92%	92.45%	86.03%	86.81%	87.37%	88.34%	91.00%	92.53%	96.54%	80.23%	120.62%	76.86%
Income Tax Expense	281M	301M	406M	422M	407M	684M	787M	437M	122M	283M	513M	150M	397M	523M	544M	530M	560M	525M	535M	481M	252M	483M	460M	385M	404M	289M	262M	91M	753M	42M	386M
Return on Income Tax Expense	608.36%	480.94%	494.99%	562.80%	639.71%	688.75%	527.11%	711.17%	504.12%	609.78%	294.38%	285.27%	209.39%	458.58%	778.52%	562.93%	535.75%	557.33%	528.51%	565.22%	1,227.67%	613.32%	657.13%	693.15%	758.22%	1,012.00%	1,231.75%	2,791.12%	460.97%	2,574.45%	327.57%
Depreciation and Amortization	1,918M	1,988M	1,881M	1,791M	1,704M	3,335M	3,504M	1,867M	1,893M	1,993M	2,108M	2,079M	1,998M	1,721M	1,744M	1,739M	1,670M	1,674M	1,652M	1,647M	1,550M	1,525M	1,454M	1,342M	1,461M	1,436M	1,531M	1,529M	1,960M	1,855M	1,075M
Return on Depreciation and Amortization	95.21%	75.56%	115.29%	137.17%	154.44%	141.19%	118.39%	166.66%	32.53%	86.44%	71.57%	20.62%	41.65%	139.25%	243.08%	171.52%	179.53%	174.96%	171.24%	164.91%	199.28%	194.31%	208.06%	199.02%	209.88%	203.75%	210.62%	165.49%	177.22%	58.45%	117.48%
EBITDA	3,590M	3,210M	3,503M	4,010M	4,237M	7,224M	5,186M	5,771M	1,912M	3,088M	3,286M	1,995M	3,553M	3,627M	3,916M	3,928M	3,951M	5,369M	5,245M	5,112M	4,115M	5,283M	5,199M	4,678M	5,237M	4,978M	4,499M	4,530M	4,429M	3,168M	2,929M
Return on EBITDA	47.31%	41.87%	55.89%	56.78%	57.80%	65.17%	79.97%	53.91%	32.20%	55.81%	45.92%	21.49%	23.42%	66.08%	108.23%	75.96%	75.87%	54.54%	53.92%	53.15%	75.07%	56.08%	58.20%	57.09%	58.56%	58.78%	71.66%	55.88%	78.42%	34.23%	43.13%
NOPAT	886M	777M	858M	1,266M	1,456M	738M	1,341M	1,607M	604M	445M	272M	954M	-1,087M	1,201M	1,649M	1,417M	1,514M	1,933M	2,043M	1,995M	2,308M	2,135M	1,998M	1,667M	1,774M	2,078M	2,609M	2,123M	3,022M	541M	1,176M
Return on NOPAT	227.43%	256.30%	207.01%	184.58%	175.88%	637.64%	309.37%	193.59%	101.87%	386.82%	554.25%	44.96%	-76.56%	199.50%	256.98%	210.60%	198.05%	151.47%	138.43%	136.15%	133.81%	138.77%	151.41%	160.22%	172.85%	140.79%	123.58%	119.24%	114.92%	200.32%	107.39%
Owner's Earnings	1,437M	1,325M	1,923M	2,155M	2,358M	5,049M	4,636M	1,682M	679M	1,950M	1,685M	627M	982M	2,524M	3,292M	2,773M	3,038M	2,121M	2,638M	2,641M	2,798M	2,892M	2,896M	2,524M	3,071M	2,974M	3,381M	2,949M	4,418M	1,648M	-122M
Return on Owner's Earnings	121.36%	104.39%	103.66%	106.50%	105.07%	93.25%	89.47%	185.01%	90.70%	88.35%	89.53%	68.35%	84.73%	94.96%	128.74%	107.60%	98.65%	138.05%	107.20%	102.87%	110.39%	102.43%	104.48%	105.81%	99.88%	98.39%	95.36%	85.83%	78.60%	65.81%	-1,039.71%

Balance Sheet Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Net Income	1,817M	1,478M	2,084M	2,357M	2,514M	3,111M	616M	1,723M	1,509M	429M	832M	2,396M	4,238M	2,984M	2,998M	2,928M	2,828M	2,717M	3,089M	2,962M	3,026M	2,670M	3,067M	2,926M	3,224M	2,531M	3,473M	1,085M	1,263M
Cash & Cash Equivalents	2,335M	1,848M	1,159M	1,092M	1,137M	2,148M	3,566M	1,292M	1,650M	584M	774M	397M	406M	413M	358M	436M	482M	705M	1,043M	2,120M	1,250M	833M	1,062M	1,077M	2,145M	2,558M	2,449M	735M	1,339M
Return on Cash & Cash Equivalents	98.51%	92.08%	377.41%	390.25%	356.36%	144.87%	17.26%	133.41%	91.47%	73.37%	107.50%	603.57%	1,042.67%	721.75%	838.20%	671.91%	586.67%	385.10%	296.25%	139.71%	242.15%	320.48%	288.64%	271.84%	150.28%	98.96%	141.84%	147.51%	94.35%
Short-Term Investments	6M	3M	11M	8M	53M	0M	17M	0M	0M	0M	0M	0M	0M	83M	14M	0M	0M	0M	0M	0M	0M	8M	9M	264M	666M	728M	357M	84M	398M
Return on Short-Term Investments	1,215.60%	729.36%	2,935.62%	1,957.08%	4,943.91%	0.00%	3,646.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3,590.59%	22,118.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	31,929.63%	36,001.82%	1,106.53%	483.94%	347.74%	973.48%	1,297.96%	317.07%
Cash & Short-Term Investments	2,341M	1,851M	1,170M	1,099M	1,190M	2,148M	3,583M	1,292M	1,650M	584M	774M	397M	406M	496M	371M	436M	482M	705M	1,043M	2,120M	1,250M	842M	1,071M	1,341M	2,812M	3,286M	2,805M	819M	1,737M
Return on Cash & Short-Term Investments	98.48%	92.06%	362.26%	380.15%	344.05%	144.87%	17.18%	133.41%	91.47%	73.37%	107.50%	603.57%	1,042.67%	600.95%	807.59%	671.91%	586.67%	385.10%	296.25%	139.71%	242.15%	317.30%	286.35%	218.23%	114.67%	77.03%	123.80%	132.46%	72.72%
Net Receivables	3,459M	3,384M	3,278M	2,792M	2,392M	3,918M	3,420M	3,039M	3,188M	3,353M	3,398M	3,642M	3,564M	2,799M	2,461M	2,150M	1,968M	2,226M	2,752M	0M	2,289M	1,840M	1,838M	0M	0M	1,463M	0M	0M	0M
Return on Net Receivables	51.37%	42.85%	65.18%	77.74%	80.51%	79.41%	18.00%	56.70%	47.34%	12.79%	24.49%	65.80%	118.93%	106.58%	121.78%	136.21%	143.73%	122.06%	112.25%	0.00%	132.20%	145.10%	166.90%	0.00%	0.00%	173.04%	0.00%	0.00%	0.00%
Inventory	243M	230M	252M	229M	207M	227M	233M	268M	209M	210M	217M	323M	308M	273M	248M	224M	131M	165M	161M	232M	268M	134M	96M	72M	144M	147M	131M	297M	348M
Return on Inventory	758.12%	640.14%	800.79%	1,086.84%	1,445.29%	1,367.86%	263.77%	642.72%	722.47%	203.87%	384.33%	741.02%	1,377.20%	1,093.90%	1,210.76%	1,304.87%	2,153.30%	1,641.69%	1,916.72%	1,278.08%	1,129.93%	1,988.70%	3,204.05%	4,045.82%	2,234.73%	1,725.66%	2,650.59%	365.28%	362.91%
Other Current Assets	284M	408M	515M	474M	534M	51M	347M	454M	753M	438M	745M	588M	528M	679M	564M	577M	498M	625M	259M	0M	0M	0M	0M	1,905M	1,664M	7M	3,304M	1,754M	1,931M
Return on Other Current Assets	2,230.18%	1,397.77%	928.10%	799.00%	616.62%	6,133.44%	177.53%	379.58%	200.44%	97.88%	111.64%	407.22%	802.14%	439.66%	531.48%	507.31%	568.05%	434.79%	1,193.86%	0.00%	0.00%	0.00%	0.00%	153.65%	193.81%	38,451.76%	105.12%	61.84%	65.41%
Total Current Assets	7,004M	6,474M	5,722M	5,173M	4,779M	6,344M	8,023M	6,647M	6,296M	5,059M	5,557M	5,481M	5,234M	4,583M	4,000M	3,692M	3,370M	3,722M	4,506M	5,076M	3,984M	2,938M	3,136M	3,318M	4,619M	4,969M	6,240M	2,870M	4,017M
Return on Total Current Assets	27.55%	23.02%	39.48%	50.53%	59.03%	49.04%	7.67%	25.93%	23.97%	8.48%	14.98%	43.72%	80.98%	65.11%	74.94%	79.32%	83.93%	73.00%	68.55%	58.36%	75.95%	90.90%	97.78%	88.20%	69.80%	50.94%	55.66%	37.80%	31.45%
Property, Plant & Equipment	10,128M	10,389M	9,684M	9,357M	8,923M	10,053M	9,967M	10,365M	11,036M	10,524M	9,622M	8,558M	8,870M	9,210M	8,638M	8,273M	8,593M	9,080M	8,968M	8,606M	8,325M	7,065M	7,840M	7,535M	7,330M	9,032M	9,400M	9,855M	10,406M
Return on Property, Plant & Equipment	17.92%	14.30%	22.30%	26.01%	29.31%	30.95%	6.18%	16.62%	13.67%	4.07%	8.65%	28.00%	47.78%	32.39%	34.70%	35.40%	32.91%	29.92%	34.44%	34.42%	36.35%	37.80%	39.12%	38.84%	43.99%	28.02%	36.95%	11.01%	12.14%
Goodwill	5,636M	6,546M	7,656M	7,625M	6,465M	4,956M	4,965M	6,987M	7,481M	8,338M	8,851M	8,935M	8,807M	8,646M	8,588M	7,839M	7,515M	7,511M	7,479M	7,479M	7,477M	7,450M	0M	0M	0M	7,368M	7,540M	7,972M	8,553M
Return on Goodwill	33.28%	25.03%	27.89%	31.40%	27.36%	62.77%	12.40%	24.66%	20.17%	5.14%	9.40%	26.82%	48.13%	34.51%	34.90%	37.36%	37.64%	36.17%	41.30%	39.61%	40.47%	35.85%	0.00%	0.00%	0.00%	34.35%	46.06%	13.60%	14.77%
Intangible Assets	4,122M	6,362M	8,428M	5,874M	5,988M	2,449M	1,406M	8,510M	9,275M	10,167M	10,637M	10,855M	10,818M	10,124M	10,043M	1,414M	802M	782M	400M	435M	7,899M	315M	7,788M	7,815M	7,834M	7,831M	459M	404M	407M
Return on Intangible Assets	63.69%	42.31%	34.00%	180.11%	185.22%	127.05%	43.79%	20.25%	16.27%	4.22%	7.82%	22.08%	39.18%	29.47%	29.85%	207.14%	352.48%	347.29%	773.00%	681.75%	38.31%	846.44%	39.38%	37.45%	41.16%	32.32%	756.42%	268.60%	310.66%
Long-Term Investments	10,540M	10,644M	11,233M	9,126M	8,022M	11,365M	10,348M	9,906M	10,801M	10,801M	11,567M	12,438M	12,025M	12,712M	10,371M	8,607M	8,069M	7,883M	0M	0M	0M	6,880M	6,878M	5,322M	4,458M	3,543M	3,624M	4,122M	3,239M
Return on Long-Term Investments	16.91%	13.73%	18.27%	19.09%	24.85%	27.37%	5.95%	17.39%	13.97%	3.97%	7.19%	19.27%	35.25%	23.47%	28.90%	34.02%	35.05%	34.47%	0.00%	0.00%	0.00%	38.81%	44.59%	54.99%	72.31%	71.44%	95.82%	26.31%	39.01%
Tax Assets	410M	341M	342M	450M	529M	530M	465M	237M	240M	234M	181M	214M	273M	509M	536M	622M	642M	732M	746M	592M	689M	624M	839M	811M	861M	947M	692M	738M	304M
Return on Tax Assets	482.69%	452.22%	653.40%	582.08%	534.94%	587.00%	132.48%	728.59%	629.77%	183.28%	458.84%	1,118.76%	1,550.42%	585.69%	559.12%	470.45%	440.80%	371.17%	414.20%	500.69%	438.87%	427.63%	365.67%	360.68%	374.67%	267.29%	501.77%	146.90%	415.94%
Other Non-Current Assets	-1,828M	-4,103M	-6,292M	-2,709M	-1,493M	533M	602M	-6,618M	-7,082M	-7,952M	-8,504M	-8,601M	-8,471M	-8,384M	-8,439M	2,129M	1,460M	1,254M	9,202M	8,234M	8,493M	480M	402M	490M	923M	1,040M	587M	114M	450M
Return on Other Non-Current Assets	220.00%	126.66%	47.45%	72.80%	169.63%	583.84%	102.21%	-26.04%	-21.31%	-5.39%	-9.79%	-27.86%	-50.03%	-35.58%	-35.52%	137.55%	193.77%	216.64%	33.57%	35.98%	35.63%	556.19%	762.90%	596.78%	349.12%	243.35%	591.66%	954.02%	280.63%
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
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%
Total Non-Current Assets	29,009M	30,178M	31,052M	29,724M	28,061M	29,886M	27,754M	29,387M	31,751M	32,112M	32,354M	32,399M	32,321M	32,817M	29,738M	28,885M	27,080M	27,242M	26,794M	25,344M	25,406M	22,815M	23,747M	21,973M	21,406M	22,393M	22,302M	23,205M	23,359M
Return on Total Non-Current Assets	6.16%	4.92%	6.68%	8.04%	9.28%	10.41%	2.22%	5.86%	4.75%	1.34%	2.57%	7.40%	13.11%	9.09%	10.08%	10.14%	10.44%	9.97%	11.53%	11.69%	11.91%	11.70%	12.91%	13.32%	15.06%	11.30%	15.57%	4.67%	5.41%
Total Assets	36,013M	36,651M	36,774M	34,897M	32,840M	36,229M	35,777M	36,033M	38,048M	37,170M	37,911M	37,880M	37,555M	37,400M	33,738M	32,577M	30,450M	30,964M	31,300M	30,421M	29,390M	25,753M	26,883M	25,291M	26,025M	27,362M	28,543M	26,075M	27,375M
Return on Total Assets	5.03%	4.04%	5.69%	6.90%	7.98%	8.59%	1.72%	4.78%	3.97%	1.15%	2.20%	6.33%	11.29%	7.98%	8.88%	8.99%	9.29%	8.77%	9.87%	9.74%	10.30%	10.37%	11.41%	11.57%	12.39%	9.25%	12.17%	4.16%	4.61%
Accounts Payable	3,439M	3,486M	3,293M	2,983M	2,916M	4,013M	3,178M	3,127M	3,425M	3,686M	3,431M	3,487M	3,117M	2,802M	2,662M	2,580M	2,166M	2,356M	2,533M	2,176M	3,601M	2,530M	2,602M	2,375M	2,465M	2,676M	2,647M	2,675M	2,753M
Return on Accounts Payable	50.67%	41.54%	65.57%	84.88%	91.73%	77.53%	19.37%	55.11%	44.06%	11.63%	24.26%	68.72%	135.98%	106.47%	112.60%	113.50%	130.55%	115.31%	121.96%	136.12%	84.03%	105.54%	117.86%	123.22%	130.80%	94.58%	131.18%	40.54%	45.89%
Short-Term Debt	648M	804M	1,255M	1,046M	1,037M	1,137M	441M	365M	830M	1,249M	2,790M	1,430M	1,394M	2,404M	507M	116M	600M	271M	82M	2,070M	1,183M	1,110M	1,452M	152M	1,157M	1,647M	893M	595M	304M
Return on Short-Term Debt	295.13%	220.31%	231.80%	681.74%	656.57%	273.53%	139.55%	472.32%	181.80%	34.34%	29.83%	167.61%	303.97%	124.11%	590.96%	2,521.00%	471.47%	1,002.37%	3,770.04%	143.13%	255.71%	240.51%	211.26%	1,919.15%	278.76%	153.66%	389.14%	182.31%	415.30%
Tax Payables	654M	553M	390M	358M	336M	708M	687M	566M	595M	207M	154M	197M	272M	229M	282M	325M	283M	332M	231M	303M	262M	263M	268M	266M	279M	291M	404M	370M	464M
Return on Tax Payables	277.81%	258.72%	696.65%	799.65%	878.17%	439.40%	89.63%	304.39%	253.41%	206.76%	538.92%	1,213.53%	1,557.93%	1,300.27%	1,062.24%	901.65%	997.81%	817.79%	1,334.46%	976.59%	1,152.94%	1,013.64%	1,145.23%	1,100.41%	1,156.47%	868.79%	860.15%	293.05%	272.02%
Deferred Revenue	223M	414M	506M	266M	200M	0M	0M	669M	697M	705M	662M	774M	766M	724M	67M	-135M	-630M	-303M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Revenue	85.87%	106.99%	642.10%	193.89%	145.42%	0.00%	0.00%	257.62%	216.48%	60.85%	125.76%	309.73%	553.44%	411.83%	4,485.28%	-2,168.29%	-448.92%	-895.43%	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	1,128M	932M	840M	979M	760M	631M	1,618M	1,137M	905M	372M	292M	337M	447M	1,952M	712M	951M	893M	1,228M	1,366M	1,840M	246M	47M	136M	22M	71M	14M	14M	14M	14M
Return on Other Current Liabilities	227.67%	193.04%	348.33%	314.41%	1,572.41%	493.36%	38.05%	151.61%	166.78%	115.40%	285.27%	710.24%	948.53%	152.88%	421.15%	307.86%	316.68%	221.16%	226.07%	161.04%	1,228.32%	5,653.11%	2,260.39%	13,030.34%	4,560.02%	18,570.45%	24,641.76%	7,570.27%	9,012.71%
Total Current Liabilities	6,280M	6,586M	6,670M	6,064M	5,572M	6,489M	5,924M	6,427M	7,012M	7,076M	8,192M	6,810M	6,528M	7,181M	5,065M	4,458M	4,406M	4,485M	4,287M	6,614M	5,293M	3,951M	4,457M	2,816M	3,971M	4,628M	4,092M	3,655M	3,535M
Return on Total Current Liabilities	28.38%	22.55%	32.37%	42.07%	50.49%	47.95%	10.39%	26.81%	21.52%	6.06%	10.16%	35.19%	64.93%	41.55%	59.19%	65.69%	64.18%	60.57%	72.06%	44.79%	57.17%	67.58%	68.80%	103.93%	81.19%	54.69%	84.87%	29.68%	35.73%
Long-Term Debt	6,991M	6,868M	6,737M	6,351M	5,896M	7,901M	6,757M	6,315M	6,363M	7,003M	6,493M	6,764M	6,649M	6,105M	7,020M	6,678M	5,457M	5,676M	6,560M	3,519M	4,144M	4,694M	4,390M	4,857M	4,575M	5,738M	6,768M	7,670M	8,893M
Return on Long-Term Debt	25.26%	21.12%	30.92%	38.93%	45.72%	39.37%	9.11%	27.29%	23.71%	6.12%	12.82%	35.43%	63.74%	48.87%	42.70%	43.85%	51.82%	47.86%	47.09%	84.18%	73.02%	56.89%	69.87%	60.25%	70.48%	44.11%	51.31%	14.14%	14.21%
Capital Lease Obligations	1,638M	1,731M	1,042M	744M	558M	366M	2,404M	2,144M	2,362M	1,381M	1,408M	38M	38M	131M	147M	159M	169M	193M	169M	53M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Capital Lease Obligations	318.68%	210.20%	2,273.89%	2,336.48%	1,752.36%	850.06%	25.61%	80.38%	63.88%	31.05%	59.11%	6,251.52%	11,056.57%	2,282.41%	2,038.34%	1,843.73%	1,670.63%	1,408.96%	1,833.04%	5,551.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	411M	401M	412M	368M	339M	395M	418M	420M	386M	386M	407M	399M	415M	445M	453M	404M	345M	232M	189M	229M	228M	238M	255M	244M	291M	329M	371M	467M	550M
Return on Deferred Tax Liabilities	448.55%	369.45%	500.62%	710.34%	830.45%	788.19%	147.30%	410.16%	390.64%	110.98%	204.49%	600.76%	1,021.84%	670.50%	661.34%	724.84%	820.86%	1,171.78%	1,636.05%	1,295.39%	1,325.41%	1,119.97%	1,201.88%	1,198.10%	1,108.44%	769.40%	935.11%	232.26%	229.83%
Other Non-Current Liabilities	693M	610M	524M	652M	788M	640M	672M	768M	575M	395M	210M	340M	468M	509M	666M	652M	699M	905M	1,123M	1,151M	1,480M	967M	1,486M	1,215M	839M	1,445M	1,405M	1,083M	1,378M
Return on Other Non-Current Liabilities	267.47%	234.66%	421.68%	393.54%	360.75%	486.49%	91.67%	224.24%	262.42%	108.46%	396.24%	704.42%	905.98%	586.59%	450.25%	449.27%	404.61%	300.09%	275.10%	257.32%	204.41%	276.18%	206.42%	240.78%	384.10%	175.19%	247.12%	100.12%	91.65%
Total Non-Current Liabilities	10,135M	10,004M	9,266M	8,723M	8,043M	9,640M	10,520M	10,245M	10,051M	9,564M	8,954M	7,985M	8,019M	8,370M	9,311M	8,938M	7,541M	7,901M	8,855M	4,949M	5,886M	5,926M	6,161M	6,329M	5,719M	7,801M	9,116M	10,325M	12,199M
Return on Total Non-Current Liabilities	18.32%	14.89%	23.44%	28.92%	34.13%	32.27%	5.85%	16.82%	15.01%	4.48%	9.29%	30.01%	52.86%	35.65%	32.19%	32.76%	37.50%	34.39%	34.88%	59.85%	51.41%	45.07%	49.77%	46.24%	56.37%	32.44%	38.10%	10.50%	10.36%
Total Liabilities	16,415M	16,589M	15,936M	14,786M	13,615M	16,129M	16,444M	16,672M	17,064M	16,640M	17,146M	14,795M	14,547M	15,551M	14,376M	13,396M	11,947M	12,386M	13,142M	11,563M	11,179M	9,877M	10,619M	9,145M	9,690M	12,430M	13,208M	13,979M	15,734M
Return on Total Liabilities	11.12%	8.96%	13.50%	16.77%	19.99%	19.29%	3.74%	10.34%	8.84%	2.58%	4.85%	16.20%	29.14%	19.19%	20.85%	21.86%	23.67%	21.93%	23.50%	25.62%	27.07%	27.04%	28.88%	32.00%	33.27%	20.36%	26.30%	7.76%	8.03%
Preferred Stock	1,139M	683M	342M	975M	731M	0M	3,416M	0M	0M	0M	0M	0M	0M	0M	0M	4,130M	3,945M	3,138M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock	6.01%	3.60%	1.80%	16.48%	12.36%	0.00%	18.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	70.91%	71.70%	86.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	3,541M	3,542M	3,253M	2,848M	2,237M	3,541M	3,541M	3,541M	3,541M	3,542M	3,196M	3,196M	3,196M	3,196M	2,040M	2,040M	2,040M	2,040M	2,038M	2,031M	2,026M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock	51.30%	41.72%	68.25%	93.02%	77.23%	87.85%	17.38%	48.66%	42.61%	12.11%	26.04%	74.98%	132.60%	93.35%	146.96%	143.56%	138.65%	133.19%	151.53%	145.85%	149.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	19,008M	19,045M	20,223M	20,103M	15,077M	19,355M	18,419M	19,250M	19,419M	18,781M	19,707M	21,306M	21,118M	22,840M	22,037M	21,274M	20,418M	19,689M	18,922M	19,012M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Retained Earnings	9.46%	7.68%	10.06%	11.60%	8.70%	16.07%	3.34%	8.95%	7.77%	2.28%	4.22%	11.25%	20.07%	13.06%	13.60%	13.77%	13.85%	13.80%	16.32%	15.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accumulated OCI	-1,139M	-1,436M	-447M	-1,045M	-784M	0M	0M	-3,417M	-1,969M	-1,794M	-2,134M	-1,371M	15,119M	-4,180M	-4,719M	-4,130M	-3,945M	-3,138M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accumulated OCI	-16.81%	-30.19%	-47.16%	-46.72%	-35.04%	0.00%	0.00%	-50.42%	-76.62%	-23.90%	-39.00%	-174.75%	28.03%	-71.38%	-63.52%	-70.91%	-71.70%	-86.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	31M	25M	16M	17M	15M	50M	29M	13M	13M	20M	19M	-22M	-2M	17M	28M	27M	19M	19M	16M	17M	18M	19M	2M	2M	2M	9M	38M	115M	351M
Return on Minority Interest	7,354.82%	7,193.06%	-11,370.32%	-2,440.35%	21,553.25%	6,180.62%	2,148.65%	13,735.19%	11,737.95%	2,162.89%	4,333.06%	-11,012.46%	-171,031.25%	17,199.55%	10,842.58%	10,929.19%	14,967.21%	14,261.38%	19,552.45%	17,387.73%	16,841.81%	14,308.71%	141,435.71%	134,957.14%	160,126.92%	28,420.87%	9,078.54%	940.56%	360.11%
Total Shareholders’ Equity	19,568M	20,037M	20,822M	20,093M	19,209M	20,051M	19,304M	19,349M	20,971M	20,511M	20,746M	23,107M	23,011M	21,832M	19,335M	19,154M	18,484M	18,558M	18,142M	18,840M	18,193M	15,857M	16,262M	16,144M	16,333M	14,924M	15,296M	11,980M	11,290M
Return on Total Shareholders’ Equity	9.20%	7.38%	9.89%	11.79%	13.35%	15.52%	3.19%	8.91%	7.20%	2.09%	4.01%	10.37%	18.42%	13.67%	15.50%	15.29%	15.30%	14.64%	17.03%	15.72%	16.63%	16.84%	18.86%	18.13%	19.74%	16.96%	22.71%	9.05%	11.19%
Total Equity	19,598M	20,062M	20,838M	20,110M	19,224M	20,101M	19,333M	19,362M	20,984M	20,531M	20,765M	23,085M	23,009M	21,849M	19,362M	19,181M	18,503M	18,577M	18,158M	18,857M	18,211M	15,876M	16,264M	16,146M	16,335M	14,933M	15,335M	12,095M	11,641M
Return on Total Equity	9.19%	7.37%	9.88%	11.78%	13.34%	15.48%	3.18%	8.90%	7.19%	2.09%	4.01%	10.38%	18.42%	13.66%	15.48%	15.27%	15.29%	14.62%	17.01%	15.71%	16.62%	16.82%	18.86%	18.12%	19.74%	16.95%	22.65%	8.97%	10.85%
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
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%
Total Investments	10,540M	10,644M	11,243M	10,208M	9,294M	11,365M	10,348M	9,906M	10,801M	10,801M	11,567M	12,438M	12,025M	12,795M	10,385M	8,607M	8,069M	7,883M	7,999M	8,136M	8,261M	6,889M	6,886M	5,586M	5,125M	4,271M	3,981M	4,206M	3,637M
Return on Total Investments	16.91%	13.73%	18.25%	24.07%	29.82%	27.37%	5.95%	17.39%	13.97%	3.97%	7.19%	19.27%	35.25%	23.32%	28.86%	34.02%	35.05%	34.47%	38.62%	36.41%	36.63%	38.77%	44.53%	52.38%	62.91%	59.26%	87.24%	25.79%	34.74%
Net Debt	6,823M	7,634M	7,954M	7,102M	6,393M	6,891M	5,649M	7,928M	8,326M	9,374M	10,201M	7,861M	7,718M	8,249M	7,341M	6,517M	5,744M	5,435M	5,767M	3,522M	4,078M	4,971M	4,779M	3,933M	3,586M	4,827M	5,212M	7,530M	7,858M
Return on Net Debt	25.93%	20.10%	27.10%	36.86%	45.46%	45.15%	10.90%	21.73%	18.12%	4.57%	8.16%	30.48%	54.92%	36.17%	40.84%	44.93%	49.23%	49.99%	53.56%	84.12%	74.21%	53.72%	64.18%	74.41%	89.91%	52.43%	66.63%	14.40%	16.08%

Capital Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Net Income	1,817M	1,478M	2,084M	2,357M	2,514M	3,111M	616M	1,723M	1,509M	429M	832M	2,396M	4,238M	2,984M	2,998M	2,928M	2,828M	2,717M	3,089M	2,962M	3,026M	2,670M	3,067M	2,926M	3,224M	2,531M	3,473M	1,085M	1,263M
Working Capital	725M	-112M	-948M	-891M	-793M	-145M	2,099M	220M	-716M	-2,017M	-2,635M	-1,329M	-1,294M	-2,598M	-1,064M	-766M	-1,037M	-764M	219M	-1,538M	-1,309M	-1,014M	-1,321M	502M	648M	341M	2,148M	-785M	481M
Return on Working Capital	-442.23%	-311.73%	-249.46%	-152.61%	-96.79%	-2,140.33%	29.33%	784.31%	-210.72%	-21.26%	-31.58%	-180.30%	-327.57%	-114.84%	-281.62%	-382.28%	-272.80%	-355.81%	1,408.94%	-192.65%	-231.13%	-263.46%	-232.17%	582.79%	497.29%	742.82%	161.67%	-138.16%	262.52%
Total Capital	28,726M	29,519M	29,934M	28,286M	26,740M	29,089M	28,519M	28,569M	30,946M	30,469M	31,721M	31,365M	31,136M	30,494M	27,033M	26,107M	24,710M	24,698M	24,952M	24,482M	23,520M	21,661M	22,103M	21,153M	22,064M	22,309M	22,957M	20,245M	20,487M
Return on Total Capital	6.30%	5.03%	6.99%	8.54%	9.78%	10.70%	2.16%	6.03%	4.88%	1.41%	2.62%	7.64%	13.61%	9.78%	11.09%	11.22%	11.45%	11.00%	12.38%	12.10%	12.86%	12.33%	13.87%	13.83%	14.61%	11.35%	15.13%	5.36%	6.17%
Capital Employed	29,733M	30,066M	30,104M	28,833M	27,268M	29,741M	29,853M	29,606M	31,035M	30,095M	29,719M	31,070M	31,028M	30,219M	28,673M	28,119M	26,043M	26,478M	27,013M	23,807M	24,097M	21,801M	22,426M	22,475M	22,054M	22,734M	24,451M	22,420M	23,840M
Return on Capital Employed	6.11%	4.93%	6.91%	8.30%	9.53%	10.46%	2.06%	5.82%	4.86%	1.42%	2.80%	7.71%	13.66%	9.87%	10.45%	10.41%	10.86%	10.26%	11.43%	12.44%	12.56%	12.25%	13.68%	13.02%	14.62%	11.13%	14.20%	4.84%	5.30%
Invested Capital	26,391M	27,671M	28,775M	27,195M	25,603M	26,942M	24,953M	27,277M	29,297M	29,885M	30,947M	30,968M	30,729M	30,081M	26,675M	25,671M	24,228M	23,993M	23,910M	22,362M	22,271M	20,828M	21,041M	20,077M	19,919M	19,751M	20,508M	19,510M	19,148M
Return on Invested Capital	6.78%	5.38%	7.23%	8.86%	10.23%	11.55%	2.47%	6.32%	5.15%	1.43%	2.69%	7.74%	13.79%	9.92%	11.24%	11.41%	11.67%	11.32%	12.92%	13.25%	13.59%	12.82%	14.58%	14.58%	16.19%	12.81%	16.93%	5.56%	6.60%

Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Net Income	1,817M	1,478M	2,084M	2,357M	2,514M	4,708M	4,148M	3,111M	616M	1,723M	1,509M	429M	832M	2,396M	4,238M	2,984M	2,998M	2,928M	2,828M	2,717M	3,089M	2,962M	3,026M	2,670M	3,067M	2,926M	3,224M	2,531M	3,473M	1,085M	1,263M
Depreciation & Amortization	1,918M	1,988M	1,881M	1,791M	1,704M	3,813M	3,987M	1,867M	1,893M	1,993M	2,108M	2,079M	1,998M	1,721M	1,744M	1,739M	1,670M	1,674M	1,652M	1,647M	1,550M	1,525M	1,454M	1,342M	1,461M	1,436M	1,531M	1,529M	1,960M	1,855M	1,075M
Return on Depreciation & Amortization	95.21%	75.56%	115.29%	137.17%	154.44%	123.47%	104.04%	166.66%	32.53%	86.44%	71.57%	20.62%	41.65%	139.25%	243.08%	171.52%	179.53%	174.96%	171.24%	164.91%	199.28%	194.31%	208.06%	199.02%	209.88%	203.75%	210.62%	165.49%	177.22%	58.45%	117.48%
Deferred Income Tax	-1,356M	-2,369M	-2,708M	-1,950M	-1,463M	0M	-5,949M	0M	0M	-4,069M	-4,036M	-3,737M	0M	-3,572M	-3,622M	-3,888M	-4,160M	-895M	-725M	-548M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Income Tax	-14.12%	-18.24%	-42.41%	-109.18%	-81.88%	0.00%	-69.72%	0.00%	0.00%	-42.35%	-37.39%	-11.47%	0.00%	-67.10%	-117.02%	-76.74%	-72.06%	-327.35%	-390.34%	-495.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	9M	18M	20M	20M	15M	28M	57M	0M	0M	28M	29M	31M	0M	32M	27M	28M	22M	41M	26M	35M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	2,077.59%	2,573.91%	6,068.70%	5,780.62%	4,335.47%	16,702.20%	7,336.99%	0.00%	0.00%	6,232.77%	5,266.22%	1,370.54%	0.00%	7,492.74%	15,817.92%	10,731.75%	13,775.09%	7,175.52%	11,033.23%	7,813.59%	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	-21M	120M	-52M	-51M	-52M	-415M	102M	-73M	66M	-55M	209M	452M	281M	-98M	-109M	-381M	-809M	54M	-236M	-69M	7M	-1M	-105M	-22M	81M	-60M	-180M	-166M	24M	170M	265M
Return on Change in Working Capital	-2,153.27%	-1,128.55%	-1,284.74%	-19,287.75%	-15,365.80%	-1,135.31%	4,082.32%	-4,242.24%	938.61%	-3,156.17%	722.20%	94.84%	295.79%	-2,446.25%	-3,900.93%	-782.75%	-370.52%	5,456.71%	-1,199.34%	-3,937.49%	41,986.32%	-318,775.00%	-2,875.13%	-12,271.89%	3,804.23%	-4,863.32%	-1,793.75%	-1,522.31%	14,561.04%	638.04%	476.43%
Accounts Receivable	-129M	18M	-112M	-100M	-75M	-227M	-56M	-396M	23M	-13M	58M	417M	146M	-334M	-108M	-435M	-472M	-484M	-105M	208M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Receivable	-3,876.58%	-1,783.67%	-1,432.03%	-1,086.47%	-814.85%	-2,071.41%	-7,418.28%	-784.65%	2,722.60%	-13,567.68%	2,608.43%	102.94%	570.08%	-716.98%	-3,934.58%	-685.90%	-634.56%	-604.46%	-2,681.35%	1,309.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	-17M	-4M	-4M	-1M	-5M	-32M	-20M	0M	28M	-78M	1M	29M	93M	-26M	-46M	-18M	-22M	-83M	21M	-5M	71M	24M	-49M	-32M	-24M	36M	-18M	-19M	9M	14M	59M
Return on Inventory	-267,824.91%	-121,430.43%	-65,444.21%	-45,255.15%	-35,783.02%	-14,756.31%	-20,679.54%	-803,480.00%	2,208.33%	-2,203.07%	194,850.00%	1,472.61%	899.25%	-9,209.82%	-9,260.58%	-16,325.00%	-13,393.77%	-3,530.81%	13,525.93%	-50,844.93%	4,359.23%	12,105.38%	-6,143.55%	-8,289.42%	-12,816.18%	8,057.14%	-17,641.10%	-13,126.10%	40,042.86%	7,957.39%	2,126.86%
Accounts Payable	17M	42M	33M	22M	16M	236M	-162M	0M	15M	36M	151M	6M	43M	262M	46M	72M	-304M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Payable	2,933.71%	3,294.91%	3,176.03%	2,117.35%	1,588.01%	1,993.97%	-2,567.59%	0.00%	4,076.92%	4,724.20%	1,002.31%	6,671.08%	1,925.81%	913.37%	9,307.82%	4,124.95%	-986.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Working Capital	108M	65M	31M	28M	11M	-392M	0M	324M	0M	0M	0M	0M	0M	0M	-1M	0M	-10M	621M	-151M	-271M	-64M	-25M	-56M	10M	105M	-96M	-161M	-147M	15M	156M	206M
Return on Other Working Capital	-370,529.48%	-352,217.69%	-699,195.66%	-467,392.24%	-349,642.01%	-1,202.21%	-2,678,000.00%	961.56%	0.00%	-1,112,550.00%	-649,500.00%	0.00%	-214,920.00%	-3,094,500.00%	-608,111.11%	-1,284,233.33%	-29,103.76%	471.51%	-1,869.94%	-1,001.80%	-4,864.27%	-11,662.50%	-5,404.29%	25,543.70%	2,933.48%	-3,032.74%	-1,996.79%	-1,722.02%	22,881.63%	693.66%	613.96%
Other Non-Cash Items	987M	2,347M	1,735M	991M	529M	-707M	758M	-1,781M	951M	3,791M	3,978M	4,798M	1,154M	3,384M	2,054M	-494M	-487M	-743M	-665M	-307M	-476M	-287M	-708M	-378M	-790M	-1,042M	-1,362M	-508M	-2,754M	-4M	-637M
Return on Other Non-Cash Items	-21.49%	-3.52%	-88.81%	-284.72%	-315.50%	-665.60%	547.37%	-174.67%	64.73%	45.46%	37.93%	8.94%	72.11%	70.81%	206.40%	-603.78%	-615.98%	-393.99%	-425.20%	-883.70%	-648.46%	-1,031.36%	-427.31%	-706.21%	-388.14%	-280.97%	-236.70%	-497.93%	-126.10%	-25,463.64%	-198.31%
Net Cash from Operating Activities	3,545M	3,697M	3,821M	4,030M	3,991M	7,427M	7,170M	3,569M	3,654M	3,411M	3,797M	4,051M	4,266M	3,864M	4,332M	3,876M	3,393M	4,481M	4,143M	4,505M	4,422M	4,680M	4,127M	3,998M	4,223M	3,550M	3,473M	3,477M	3,558M	2,920M	2,347M
Return on Net Cash from Operating Activities	51.51%	40.97%	54.95%	58.44%	63.23%	63.39%	57.85%	87.16%	16.85%	50.51%	39.74%	10.58%	19.51%	62.02%	97.85%	76.98%	88.34%	65.35%	68.26%	60.31%	69.85%	63.30%	73.32%	66.79%	72.61%	82.42%	92.83%	72.80%	97.61%	37.14%	53.82%
Capital Expenditures (PPE)	-1,775M	-1,828M	-1,885M	-1,889M	-1,781M	-3,535M	-3,499M	-1,895M	-1,665M	-1,766M	-1,932M	-1,881M	-1,848M	-1,594M	-2,690M	-1,950M	-1,629M	-2,481M	-1,841M	-1,723M	-1,841M	-1,595M	-1,584M	-1,488M	-1,458M	-1,388M	-1,374M	-1,112M	-1,014M	-1,292M	-2,460M
Return on Capital Expenditures (PPE)	-99.57%	-79.93%	-108.96%	-124.83%	-144.94%	-133.18%	-118.56%	-164.18%	-36.99%	-97.56%	-78.11%	-22.80%	-45.03%	-150.37%	-157.57%	-152.99%	-184.03%	-118.04%	-153.58%	-157.66%	-167.81%	-185.75%	-191.02%	-179.42%	-210.41%	-210.79%	-234.67%	-227.68%	-342.40%	-83.94%	-51.35%
Acquisitions (Net)	177M	361M	112M	-83M	-142M	255M	1,002M	273M	500M	-242M	1,454M	-178M	107M	120M	-150M	33M	-800M	-347M	-319M	-479M	-699M	-519M	-70M	-351M	-786M	64M	-455M	1,495M	222M	-589M	-6,939M
Return on Acquisitions (Net)	183.20%	82.49%	912.41%	387.61%	208.24%	1,845.66%	413.88%	1,139.36%	123.18%	-712.94%	103.81%	-240.95%	775.32%	2,004.21%	-2,822.59%	9,129.62%	-374.90%	-844.46%	-885.76%	-566.68%	-441.86%	-571.28%	-4,331.82%	-760.73%	-390.01%	4,541.83%	-708.53%	169.25%	1,562.10%	-184.03%	-18.21%
Purchases of Investments	-627M	-423M	-571M	-393M	-295M	-637M	-1,712M	-498M	-802M	-582M	-212M	-19M	-656M	-340M	-465M	-1,941M	-197M	-18M	-38M	-43M	-67M	-15M	0M	-1M	-1M	-1M	-2M	-369M	-258M	-7M	-36M
Return on Purchases of Investments	-332.51%	-792.31%	-738.25%	-4,075.61%	-165,118.49%	-738.71%	-242.28%	-624.60%	-76.72%	-296.21%	-713.21%	-2,250.81%	-126.87%	-704.58%	-911.86%	-153.71%	-1,523.94%	-16,370.13%	-7,362.90%	-6,264.82%	-4,627.26%	-19,126.50%	-1,953,650.00%	-383,155.56%	-360,018.18%	-377,880.00%	-166,532.00%	-686.64%	-1,345.98%	-14,898.94%	-3,463.48%
Sales / Maturities of Investments	1,468M	913M	699M	488M	407M	1,566M	3,455M	358M	2,060M	1,986M	150M	13M	29M	23M	1,800M	106M	470M	58M	10M	261M	0M	1M	25M	2M	268M	412M	112M	119M	223M	479M	1,836M
Return on Sales / Maturities of Investments	328.67%	1,078.30%	2,239.20%	168,634.50%	133,956.04%	300.60%	120.05%	869.38%	29.89%	86.75%	1,008.54%	3,396.93%	2,850.40%	10,454.39%	235.44%	2,822.49%	637.80%	5,042.00%	28,531.25%	1,039.80%	1,994,350.00%	478,162.50%	12,248.59%	132,630.77%	1,144.24%	710.30%	2,869.26%	2,134.81%	1,560.47%	226.36%	68.82%
Other Investing Activities	-407M	-243M	-131M	-136M	-91M	1,345M	672M	-102M	99M	-1,219M	17M	-12M	-14M	-18M	-20M	-21M	-21M	-715M	-194M	-124M	339M	-29M	-153M	-16M	-154M	401M	137M	309M	220M	21M	-76M
Return on Other Investing Activities	-856.88%	555.21%	-6,637.82%	-5,309.35%	-4,858.94%	350.13%	616.98%	-3,050.42%	621.09%	-141.31%	9,062.79%	-3,716.11%	-5,970.00%	-13,632.16%	-21,050.00%	-14,112.45%	-14,389.59%	-409.52%	-1,457.30%	-2,185.86%	910.45%	-10,119.84%	-1,976.38%	-16,658.94%	-1,992.05%	730.06%	2,358.81%	820.18%	1,581.38%	5,284.91%	-1,659.51%
Net Cash from Investing Activities	-1,165M	-1,219M	-1,776M	-1,932M	-1,834M	-1,007M	-1,854M	-1,864M	192M	-1,823M	-524M	-2,077M	-2,382M	-1,809M	-1,525M	-3,774M	-2,176M	-2,754M	-2,169M	-1,980M	-2,175M	-2,137M	-1,688M	-1,851M	-2,128M	-510M	-1,535M	448M	-600M	-1,389M	-7,539M
Return on Net Cash from Investing Activities	20.01%	-49.76%	-91.10%	-104.37%	-140.88%	-467.73%	-223.69%	-166.89%	321.47%	-94.54%	-288.20%	-20.65%	-34.94%	-132.48%	-277.97%	-79.06%	-137.76%	-106.31%	-130.37%	-137.21%	-142.00%	-138.64%	-179.30%	-144.25%	-144.10%	-574.29%	-210.06%	564.88%	-578.46%	-78.10%	-16.76%
Net Debt Issuance	115M	-549M	-48M	83M	12M	-327M	-468M	-13M	513M	-154M	-1,781M	-1,311M	562M	165M	-242M	916M	861M	581M	186M	-624M	935M	648M	-158M	-467M	904M	-552M	-735M	-338M	-185M	-1,022M	4,078M
Return on Net Debt Issuance	-8,598.38%	-5,182.52%	-2,538.93%	-1,534.00%	-1,306.18%	-1,439.64%	-885.58%	-24,798.77%	120.07%	-1,116.46%	-84.74%	-32.71%	147.98%	1,456.24%	-1,754.73%	325.84%	347.97%	504.07%	1,523.57%	-435.60%	330.30%	456.97%	-1,911.59%	-572.06%	339.41%	-530.51%	-438.75%	-748.60%	-1,874.13%	-106.07%	30.98%
Long-Term Debt Issuance	113M	-484M	18M	125M	48M	-194M	-468M	-13M	513M	-161M	-1,781M	-978M	875M	165M	-220M	916M	861M	581M	186M	-648M	935M	648M	-150M	-466M	904M	-552M	-652M	-296M	-185M	-1,022M	4,078M
Return on Long-Term Debt Issuance	-8,583.50%	-5,175.82%	-2,558.38%	-1,545.86%	-1,323.04%	-2,427.96%	-885.58%	-24,798.77%	120.07%	-1,071.82%	-84.74%	-43.82%	95.09%	1,456.24%	-1,929.83%	325.84%	347.97%	504.07%	1,523.57%	-419.05%	330.30%	456.97%	-2,014.07%	-573.49%	339.41%	-530.51%	-494.16%	-856.50%	-1,874.13%	-106.07%	30.98%
Short-Term Debt Issuance	2M	-65M	-66M	-42M	-36M	-133M	0M	0M	0M	6M	0M	-332M	-313M	0M	-22M	0M	0M	0M	0M	25M	0M	0M	-8M	0M	0M	0M	-82M	-43M	0M	0M	0M
Return on Short-Term Debt Issuance	8,936.14%	5,335.89%	707.42%	1,207.10%	171,251.17%	-3,536.71%	0.00%	0.00%	0.00%	26,808.43%	0.00%	-128.98%	-266.06%	0.00%	-19,339.22%	0.00%	0.00%	0.00%	0.00%	11,032.39%	0.00%	0.00%	-37,570.19%	3,448,400.00%	0.00%	0.00%	-3,912.88%	-5,942.55%	0.00%	0.00%	0.00%
Net Stock Issuance	-30M	-24M	101M	58M	-46M	-65M	-47M	-37M	-25M	-28M	-18M	-12M	-18M	-20M	-19M	1,220M	-34M	-42M	-28M	-27M	-8M	-25M	-42M	-40M	-24M	-1,753M	62M	-2,258M	29M	0M	0M
Return on Net Stock Issuance	-5,614.99%	-5,739.73%	-7,588.34%	-10,136.98%	-8,693.55%	-7,272.25%	-8,737.36%	-8,317.60%	-2,431.19%	-6,096.16%	-8,326.92%	-3,526.75%	-4,672.17%	-12,087.89%	-21,892.00%	244.58%	-8,777.32%	-6,913.16%	-9,978.14%	-10,023.71%	-37,629.25%	-11,627.05%	-7,276.16%	-6,735.16%	-12,816.18%	-166.90%	5,178.23%	-112.07%	12,153.93%	0.00%	0.00%
Common Stock Issuance	-12M	-7M	120M	81M	69M	0M	-669M	-37M	0M	0M	0M	0M	0M	0M	0M	1,241M	0M	0M	0M	1M	7M	5M	8M	9M	24M	46M	78M	89M	29M	0M	0M
Return on Common Stock Issuance	-2,772.53%	-1,663.52%	-807.72%	19,207.48%	18,833.31%	0.00%	-620.41%	-8,317.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	240.43%	0.00%	0.00%	0.00%	194,905.56%	42,432.98%	58,850.77%	36,516.82%	28,978.15%	12,532.28%	6,404.75%	4,122.08%	2,844.56%	12,153.93%	0.00%	0.00%
Common Stock Repurchased	-18M	-17M	-20M	-23M	-115M	-65M	-47M	0M	-25M	-28M	-18M	-12M	-18M	-20M	-19M	-21M	-34M	-42M	-28M	-28M	-15M	-31M	-50M	-49M	-48M	-1,799M	-16M	-2,347M	0M	0M	0M
Return on Common Stock Repurchased	-2,842.45%	-4,076.21%	-8,197.48%	-9,203.46%	-8,814.66%	-7,272.25%	-8,737.36%	0.00%	-2,431.19%	-6,096.16%	-8,326.92%	-3,526.75%	-4,672.17%	-12,087.89%	-21,892.00%	-14,164.34%	-8,777.32%	-6,913.16%	-9,978.14%	-9,533.42%	-19,943.50%	-9,708.88%	-6,067.24%	-5,464.98%	-6,336.32%	-162.66%	-20,210.19%	-107.82%	0.00%	0.00%	0.00%
Preferred Stock Issuance	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 Preferred Stock Issuance	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-1,777M	-1,440M	-1,856M	-1,977M	-1,858M	-4,130M	-3,132M	-2,148M	-1,662M	-1,521M	-882M	-986M	-2,212M	-2,212M	-2,591M	-2,180M	-2,160M	-2,073M	-2,074M	-1,950M	-3,184M	-1,825M	-1,614M	-1,541M	-1,971M	-1,035M	-1,343M	-709M	-592M	-592M	-540M
Return on Net Dividends Paid	-98.38%	-101.94%	-109.48%	-118.07%	-140.52%	-113.99%	-132.43%	-144.81%	-37.04%	-113.28%	-171.06%	-43.50%	-37.62%	-108.33%	-163.55%	-136.84%	-138.78%	-141.23%	-136.38%	-139.35%	-97.02%	-162.32%	-187.49%	-173.34%	-155.63%	-282.76%	-240.13%	-357.12%	-586.40%	-183.14%	-233.91%
Common Dividends Paid	-1,581M	-1,322M	-1,797M	-1,938M	-1,886M	-4,130M	-2,506M	-2,148M	-1,368M	-1,227M	-882M	-986M	-2,212M	-2,212M	-2,591M	-2,180M	-2,160M	-2,073M	-2,074M	-1,950M	-3,184M	-1,825M	-1,614M	-1,541M	-2,660M	-1,488M	-1,343M	-709M	-592M	-592M	-540M
Return on Common Dividends Paid	-110.08%	-108.96%	-112.99%	-120.41%	-135.96%	-113.99%	-165.53%	-144.81%	-45.01%	-140.41%	-171.06%	-43.50%	-37.62%	-108.33%	-163.55%	-136.84%	-138.78%	-141.23%	-136.38%	-139.35%	-97.02%	-162.32%	-187.49%	-173.34%	-115.28%	-196.72%	-240.13%	-357.12%	-586.40%	-183.14%	-233.91%
Preferred Dividends Paid	-196M	-118M	-59M	-39M	-29M	0M	-626M	0M	-294M	-294M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Dividends Paid	-265.16%	-159.10%	-79.55%	-53.03%	-39.77%	0.00%	-662.22%	0.00%	-209.32%	-586.17%	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%
Other Financing Activities	-512M	-182M	-74M	-202M	-226M	-683M	-829M	-921M	-369M	-247M	482M	142M	132M	-1M	42M	-10M	10M	-254M	-271M	-267M	-1,045M	-456M	-226M	-290M	-319M	-320M	-335M	-177M	-495M	-521M	-179M
Return on Other Financing Activities	-401.18%	-117.86%	-43,128.64%	-29,029.70%	-22,027.08%	-689.45%	-500.47%	-337.91%	-167.02%	-698.62%	313.16%	301.09%	632.12%	-442,071.43%	10,153.99%	-29,187.12%	29,775.38%	-1,150.79%	-1,043.73%	-1,019.26%	-295.50%	-649.90%	-1,336.74%	-921.05%	-961.45%	-915.63%	-961.28%	-1,426.00%	-701.08%	-208.25%	-705.27%
Net Cash from Financing Activities	-2,204M	-2,196M	-1,877M	-2,038M	-2,176M	-5,205M	-4,477M	-3,119M	-1,543M	-1,950M	-2,199M	-2,166M	-1,536M	-2,068M	-2,811M	-55M	-1,323M	-1,789M	-2,187M	-2,867M	-3,302M	-1,658M	-2,040M	-2,337M	-2,100M	-4,112M	-2,351M	-3,817M	-1,244M	-2,135M	3,359M
Return on Net Cash from Financing Activities	-76.00%	-63.28%	-628.26%	-462.83%	-377.97%	-90.46%	-92.65%	-99.75%	-39.90%	-88.35%	-68.62%	-19.79%	-54.18%	-115.88%	-150.80%	-5,418.71%	-226.64%	-163.66%	-129.29%	-94.76%	-93.54%	-178.67%	-148.32%	-114.27%	-146.06%	-71.16%	-137.16%	-66.31%	-279.10%	-50.79%	37.61%
Effect of FX on Cash	-16M	-7M	3M	0M	-1M	-24M	-16M	-3M	-17M	-29M	16M	-2M	29M	3M	-3M	9M	27M	16M	-10M	5M	-22M	-14M	17M	-39M	-9M	2M	0M	1M	0M	0M	0M
Return on Effect of FX on Cash	-39,397.15%	-27,073.41%	-14,561.07%	-8,927.97%	-105,575.30%	-19,867.97%	-25,145.54%	-108,578.38%	-3,663.59%	-5,949.47%	9,191.04%	-26,366.67%	2,888.71%	73,678.57%	-130,309.52%	32,375.63%	11,122.99%	17,837.26%	-28,092.31%	56,585.48%	-13,849.65%	-20,789.67%	17,365.78%	-6,801.58%	-32,460.66%	125,960.00%	-2,081,650.00%	172,021.05%	0.00%	0.00%	0.00%
Net Change in Cash	170M	277M	172M	61M	-20M	1,200M	811M	-1,417M	2,285M	-358M	1,065M	-190M	377M	-9M	-7M	56M	-78M	-46M	-223M	-337M	-1,078M	871M	416M	-229M	-14M	-1,069M	-412M	109M	1,713M	-604M	-1,833M
Return on Net Change in Cash	-224.70%	-151.70%	-8,587.84%	-6,282.05%	-5,880.18%	392.28%	511.31%	-219.61%	26.94%	-481.41%	141.67%	-226.09%	220.70%	-25,364.75%	-61,494.38%	5,350.97%	-3,832.48%	-6,334.17%	-1,265.86%	-805.76%	-286.63%	340.18%	726.67%	-1,164.61%	-21,879.56%	-273.77%	-781.69%	2,318.01%	202.70%	-179.67%	-68.93%
Cash at Beginning of Period	2,160M	1,568M	985M	1,030M	1,156M	5,565M	6,245M	3,558M	1,273M	1,650M	584M	774M	397M	406M	413M	358M	436M	482M	705M	1,043M	2,120M	1,250M	833M	1,062M	1,076M	2,145M	2,558M	2,449M	735M	1,339M	3,172M
Return on Cash at Beginning of Period	80.08%	110.76%	390.03%	370.13%	335.69%	84.60%	66.41%	87.43%	48.35%	104.46%	258.18%	55.39%	209.60%	589.54%	1,025.29%	834.28%	687.78%	607.47%	400.88%	260.57%	145.68%	237.08%	363.20%	251.36%	284.91%	136.40%	126.05%	103.37%	472.38%	81.01%	39.83%
Cash at End of Period	2,331M	1,845M	1,157M	1,091M	1,136M	10,331M	7,057M	2,142M	3,558M	1,292M	1,650M	584M	774M	397M	406M	413M	358M	436M	482M	705M	1,043M	2,120M	1,250M	833M	1,062M	1,076M	2,145M	2,558M	2,449M	735M	1,339M
Return on Cash at End of Period	98.65%	92.16%	377.45%	390.28%	356.38%	45.57%	58.78%	145.25%	17.30%	133.41%	91.47%	73.37%	107.50%	603.57%	1,042.67%	721.75%	838.20%	671.91%	586.67%	385.10%	296.25%	139.71%	242.16%	320.54%	288.67%	271.86%	150.28%	98.96%	141.84%	147.51%	94.35%
Operating Cash Flow	3,545M	3,697M	3,821M	4,030M	3,991M	7,427M	7,170M	3,569M	3,654M	3,411M	3,797M	4,051M	4,266M	3,864M	4,332M	3,876M	3,393M	4,481M	4,143M	4,505M	4,422M	4,680M	4,127M	3,998M	4,223M	3,550M	3,473M	3,477M	3,558M	2,920M	2,347M
Return on Operating Cash Flow	51.51%	40.97%	54.95%	58.44%	63.23%	63.39%	57.85%	87.16%	16.85%	50.51%	39.74%	10.58%	19.51%	62.02%	97.85%	76.98%	88.34%	65.35%	68.26%	60.31%	69.85%	63.30%	73.32%	66.79%	72.61%	82.42%	92.83%	72.80%	97.61%	37.14%	53.82%
Capital Expenditure	-2,297M	-2,141M	-2,042M	-1,993M	-1,859M	-3,472M	-3,499M	-3,296M	-1,830M	-1,766M	-1,932M	-1,881M	-1,848M	-1,594M	-2,690M	-1,950M	-1,629M	-2,481M	-1,841M	-1,723M	-1,841M	-1,595M	-1,584M	-1,488M	-1,458M	-1,388M	-1,374M	-1,112M	-1,014M	-1,292M	-2,460M
Return on Capital Expenditure	-75.20%	-65.30%	-101.65%	-119.96%	-141.28%	-135.59%	-118.56%	-94.38%	-33.65%	-97.56%	-78.11%	-22.80%	-45.03%	-150.37%	-157.57%	-152.99%	-184.03%	-118.04%	-153.58%	-157.66%	-167.81%	-185.75%	-191.02%	-179.42%	-210.41%	-210.79%	-234.67%	-227.68%	-342.40%	-83.94%	-51.35%
Free Cash Flow	1,247M	1,556M	1,780M	2,037M	2,131M	3,955M	3,671M	273M	1,824M	1,645M	1,865M	2,171M	2,418M	2,270M	1,642M	1,925M	1,765M	2,000M	2,302M	2,782M	2,581M	3,085M	2,543M	2,510M	2,766M	2,162M	2,099M	2,365M	2,544M	1,628M	-113M
Return on Free Cash Flow	425.95%	275.70%	210.15%	178.94%	165.46%	119.04%	112.97%	1,139.36%	33.75%	104.74%	80.91%	19.75%	34.42%	105.55%	258.15%	154.96%	169.88%	146.40%	122.86%	97.66%	119.66%	96.03%	119.01%	106.40%	110.88%	135.34%	153.58%	107.02%	136.53%	66.61%	-1,118.09%

Free Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Net Income	2,008M	1,592M	2,141M	2,548M	2,747M	4,708M	4,148M	3,557M	744M	1,723M	1,509M	429M	832M	2,396M	4,238M	2,984M	2,998M	3,456M	3,367M	3,199M	3,341M	3,443M	3,486M	3,056M	3,472M	3,216M	3,484M	2,622M	4,329M	899M	1,644M
EBITDA	3,590M	3,210M	3,503M	4,010M	4,237M	7,224M	5,186M	5,771M	1,912M	3,088M	3,286M	1,995M	3,553M	3,627M	3,916M	3,928M	3,951M	5,369M	5,245M	5,112M	4,115M	5,283M	5,199M	4,678M	5,237M	4,978M	4,499M	4,530M	4,429M	3,168M	2,929M
Return on EBITDA	52.13%	44.76%	57.34%	60.73%	62.58%	65.17%	79.97%	61.64%	38.94%	55.81%	45.92%	21.49%	23.42%	66.08%	108.23%	75.96%	75.87%	64.37%	64.20%	62.58%	81.20%	65.18%	67.05%	65.34%	66.29%	64.60%	77.44%	57.88%	97.74%	28.38%	56.11%
(-) Tax Adjustment	725M	980M	1,520M	1,245M	1,067M	913M	957M	710M	314M	1,150M	1,985M	741M	6,351M	1,121M	633M	1,095M	1,104M	816M	834M	768M	310M	741M	687M	590M	610M	448M	338M	157M	771M	148M	687M
Return on (-) Tax Adjustment	296.12%	204.46%	246.31%	350.00%	429.70%	515.63%	433.48%	501.21%	237.32%	149.82%	76.03%	57.90%	13.10%	213.78%	669.84%	272.54%	271.56%	423.42%	403.94%	416.55%	1,078.31%	464.67%	507.54%	518.36%	568.97%	718.40%	1,030.82%	1,673.57%	561.56%	605.70%	239.15%
(-) Change In Working Capital	-21M	120M	-52M	-51M	-52M	-415M	102M	-73M	66M	-55M	209M	452M	281M	-98M	-109M	-381M	-809M	54M	-236M	-69M	7M	-1M	-105M	-22M	81M	-60M	-180M	-166M	24M	170M	265M
Return on (-) Change In Working Capital	-2,290.57%	-1,210.93%	-1,325.93%	-22,533.49%	-17,916.81%	-1,135.31%	4,082.32%	-4,850.37%	1,134.83%	-3,156.17%	722.20%	94.84%	295.79%	-2,446.25%	-3,900.93%	-782.75%	-370.52%	6,440.12%	-1,427.88%	-4,636.70%	45,414.74%	-370,533.33%	-3,312.07%	-14,045.20%	4,306.44%	-5,344.53%	-1,938.52%	-1,576.94%	18,148.70%	528.97%	619.89%
(-) Capital Expenditure	-2,297M	-2,141M	-2,042M	-1,993M	-1,859M	-3,472M	-3,499M	-3,296M	-1,830M	-1,766M	-1,932M	-1,881M	-1,848M	-1,594M	-2,690M	-1,950M	-1,629M	-2,481M	-1,841M	-1,723M	-1,841M	-1,595M	-1,584M	-1,488M	-1,458M	-1,388M	-1,374M	-1,112M	-1,014M	-1,292M	-2,460M
Return on (-) Capital Expenditure	-82.05%	-69.41%	-103.71%	-129.49%	-154.56%	-135.59%	-118.56%	-107.91%	-40.69%	-97.56%	-78.11%	-22.80%	-45.03%	-150.37%	-157.57%	-152.99%	-184.03%	-139.31%	-182.85%	-185.66%	-181.51%	-215.91%	-220.05%	-205.34%	-238.19%	-231.65%	-253.61%	-235.86%	-426.77%	-69.59%	-66.81%
Unlevered Free Cash Flow	589M	-30M	-7M	823M	1,363M	3,253M	629M	1,838M	-297M	226M	-839M	-1,078M	-4,928M	1,010M	702M	1,264M	2,027M	2,018M	2,806M	2,690M	1,957M	2,948M	3,033M	2,621M	3,089M	3,203M	2,967M	3,428M	2,620M	1,558M	-483M
Return on Unlevered Free Cash Flow	235.18%	97.19%	169.39%	159.44%	147.67%	144.72%	659.10%	193.54%	-250.62%	762.62%	-179.81%	-39.77%	-16.89%	237.26%	603.66%	236.00%	147.88%	171.25%	120.01%	118.94%	170.76%	116.81%	114.91%	116.60%	112.39%	100.41%	117.42%	76.49%	165.23%	57.71%	-340.09%
(-) Net Interest Income After Taxes	-203M	-188M	-147M	-168M	-178M	-490M	-469M	-222M	-204M	-183M	-130M	-200M	275M	-206M	-243M	-186M	-175M	-172M	-158M	-190M	-275M	-248M	-225M	-211M	-121M	-235M	-250M	-298M	-106M	-389M	-49M
Return on (-) Net Interest Income After Taxes	-971.22%	-858.32%	-1,022.10%	-1,242.47%	-1,363.17%	-959.89%	-883.94%	-1,605.58%	-365.50%	-942.58%	-1,163.83%	-214.09%	302.22%	-1,164.85%	-1,747.25%	-1,604.48%	-1,715.08%	-2,005.01%	-2,128.23%	-1,681.68%	-1,213.78%	-1,387.30%	-1,551.36%	-1,446.50%	-2,871.63%	-1,365.76%	-1,391.12%	-879.61%	-4,096.68%	-231.15%	-3,337.14%
Net Debt Issuance	115M	-549M	-48M	83M	12M	-327M	-468M	-13M	513M	-154M	-1,781M	-1,311M	562M	165M	-242M	916M	861M	581M	186M	-624M	935M	648M	-158M	-467M	904M	-552M	-735M	-338M	-185M	-1,022M	4,078M
Return on Net Debt Issuance	-9,775.00%	-5,888.49%	-2,891.91%	-1,742.32%	-1,483.23%	-1,439.64%	-885.58%	-28,353.70%	145.17%	-1,116.46%	-84.74%	-32.71%	147.98%	1,456.24%	-1,754.73%	325.84%	347.97%	594.91%	1,813.89%	-512.95%	357.27%	531.17%	-2,202.10%	-654.73%	384.21%	-583.00%	-474.16%	-775.47%	-2,335.90%	-87.94%	40.30%
Levered Free Cash Flow	907M	-392M	91M	1,074M	1,553M	3,417M	630M	2,047M	419M	254M	-2,490M	-2,189M	-4,641M	1,380M	703M	2,366M	3,063M	2,772M	3,149M	2,256M	3,167M	3,844M	3,100M	2,366M	4,113M	2,887M	2,483M	3,388M	2,540M	925M	3,644M
Return on Levered Free Cash Flow	342.85%	189.67%	193.08%	166.62%	153.85%	137.80%	658.19%	173.77%	177.49%	677.27%	-60.59%	-19.59%	-17.93%	173.61%	602.77%	126.11%	97.85%	124.70%	106.91%	141.79%	105.50%	89.57%	112.45%	129.19%	84.40%	111.41%	140.33%	77.40%	170.41%	97.26%	45.10%