First Commonwealth Financial Corporation (FCF)

Category: Company Returns Sector: Financial Services Industry: Banks - Regional Live Price: $17.47

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	143M	128M	102M	79M	68M	64M	59M	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	33M	40M	37M	26M
Revenue	585M	510M	422M	376M	375M	365M	349M	716M	693M	700M	627M	429M	401M	396M	411M	381M	331M	282M	265M	263M	267M	285M	289M	318M	349M	383M	380M	377M	362M	326M	292M	314M	350M	346M	330M	312M	280M	254M	186M
Return on Revenue	25.11%	25.68%	23.90%	19.91%	17.32%	16.73%	16.25%	20.01%	21.87%	20.38%	25.07%	29.90%	34.51%	18.56%	25.64%	28.22%	16.67%	21.12%	18.89%	16.90%	15.56%	14.75%	5.28%	7.24%	-5.75%	11.24%	12.17%	14.03%	15.96%	11.87%	18.24%	13.88%	14.34%	13.67%	16.04%	10.72%	14.09%	14.63%	13.70%
Cost of Revenue	150M	110M	77M	74M	98M	108M	112M	247M	236M	251M	159M	39M	14M	90M	70M	53M	27M	37M	31M	30M	41M	51M	97M	123M	187M	162M	180M	178M	147M	119M	113M	135M	179M	185M	162M	163M	135M	116M	87M
Return on Cost of Revenue	161.87%	312.13%	244.62%	187.62%	146.25%	123.63%	107.83%	58.01%	64.22%	56.86%	98.70%	330.04%	993.15%	81.92%	150.62%	204.50%	205.40%	160.80%	164.17%	149.69%	101.34%	82.77%	15.67%	18.66%	-10.71%	26.58%	25.73%	29.81%	39.28%	32.55%	47.16%	32.27%	28.09%	25.60%	32.68%	20.45%	29.32%	32.21%	29.48%
Gross Profit	435M	400M	345M	302M	276M	257M	238M	469M	457M	449M	467M	390M	387M	306M	341M	328M	304M	246M	235M	233M	226M	234M	192M	194M	161M	221M	200M	200M	215M	207M	179M	179M	171M	161M	168M	148M	146M	139M	100M
Return on Gross Profit	32.75%	31.60%	28.54%	24.04%	22.20%	23.02%	23.64%	30.54%	33.17%	31.76%	33.60%	32.88%	35.76%	24.00%	30.91%	32.74%	18.14%	24.24%	21.35%	19.05%	18.39%	17.94%	7.97%	11.82%	-12.43%	19.47%	23.10%	26.52%	26.89%	18.68%	29.74%	24.35%	29.29%	29.35%	31.52%	22.54%	27.13%	26.82%	25.60%
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	150M	141M	129M	121M	112M	101M	92M	91M	159M	161M	155M	134M	127M	130M	128M	122M	122M	103M	105M	103M	103M	109M	104M	104M	107M	94M	79M	73M	74M	69M	61M	58M	55M	53M	50M	49M	47M	44M	33M
Return on SG&A Expenses	95.27%	90.25%	77.25%	62.07%	58.39%	62.72%	66.28%	156.63%	95.37%	88.67%	101.43%	95.71%	108.85%	56.60%	82.04%	88.44%	45.33%	57.68%	47.80%	43.11%	40.14%	38.40%	14.72%	22.08%	-18.83%	45.98%	58.55%	72.55%	78.66%	56.09%	87.17%	74.85%	92.05%	89.94%	106.43%	68.58%	83.86%	84.35%	77.27%
Operating Expenses	257M	240M	213M	200M	190M	176M	162M	290M	267M	271M	270M	230M	214M	216M	210M	196M	200M	160M	164M	171M	169M	177M	177M	171M	207M	172M	148M	138M	144M	165M	113M	126M	106M	99M	96M	102M	89M	85M	62M
Return on Operating Expenses	55.56%	53.07%	46.59%	37.48%	34.37%	35.50%	36.83%	49.48%	56.86%	52.66%	58.19%	55.82%	64.65%	34.03%	50.17%	54.97%	27.54%	37.26%	30.60%	25.96%	24.57%	23.68%	8.64%	13.42%	-9.68%	25.11%	31.25%	38.46%	40.18%	23.49%	47.31%	34.45%	47.40%	47.50%	55.48%	32.75%	44.48%	43.61%	41.06%
Operating Income (EBIT)	179M	160M	132M	102M	86M	81M	76M	180M	190M	178M	198M	160M	173M	90M	131M	133M	104M	85M	71M	62M	57M	57M	15M	23M	-46M	50M	52M	62M	71M	42M	67M	52M	65M	62M	73M	46M	57M	53M	38M
Return on Operating Income (EBIT)	79.84%	80.19%	75.62%	78.43%	78.11%	78.80%	77.42%	79.80%	79.64%	80.00%	79.50%	80.02%	80.00%	81.42%	80.50%	80.96%	53.18%	69.92%	70.64%	71.54%	73.08%	74.11%	102.55%	98.97%	43.73%	86.66%	88.60%	85.43%	81.35%	91.25%	80.09%	83.01%	76.69%	76.78%	73.00%	72.29%	69.54%	69.66%	68.00%
Interest Income	485M	410M	333M	297M	303M	299M	291M	616M	592M	598M	527M	329M	293M	301M	325M	292M	251M	215M	201M	202M	206M	219M	231M	268M	293M	325M	331M	333M	312M	278M	244M	276M	309M	312M	298M	283M	255M	235M	176M
Return on Interest Income	30.86%	32.83%	30.81%	25.63%	21.96%	20.89%	19.92%	23.25%	25.59%	23.83%	29.80%	38.95%	47.14%	24.44%	32.38%	36.78%	22.02%	27.74%	24.99%	21.99%	20.10%	19.15%	6.60%	8.56%	-6.85%	13.25%	13.97%	15.90%	18.53%	13.90%	21.86%	15.80%	16.25%	15.15%	17.81%	11.79%	15.50%	15.82%	14.51%
Interest Expense	128M	86M	58M	50M	73M	85M	92M	211M	215M	222M	144M	18M	15M	33M	55M	40M	22M	19M	16M	19M	22M	30M	42M	62M	87M	139M	170M	166M	139M	111M	100M	123M	167M	175M	153M	148M	125M	109M	82M
Return on Interest Expense	298.68%	404.57%	337.72%	268.11%	206.52%	172.44%	148.83%	67.97%	70.43%	64.35%	108.83%	722.88%	903.82%	222.99%	190.12%	268.51%	253.40%	320.74%	321.53%	240.27%	191.10%	139.17%	36.65%	37.30%	-23.12%	31.00%	27.25%	31.88%	41.72%	34.92%	53.17%	35.48%	30.02%	27.07%	34.71%	22.52%	31.73%	34.07%	30.95%
Net Interest Income	357M	323M	274M	246M	229M	213M	199M	405M	377M	377M	383M	311M	278M	268M	268M	250M	227M	196M	185M	182M	184M	189M	190M	207M	206M	186M	161M	167M	173M	167M	144M	153M	142M	137M	143M	134M	130M	126M	93M
Return on Net Interest Income	40.02%	39.45%	36.12%	29.97%	27.83%	28.61%	28.81%	35.34%	40.18%	37.83%	41.04%	41.17%	49.73%	27.45%	39.27%	42.94%	24.29%	30.37%	27.10%	24.45%	22.50%	22.22%	8.05%	11.12%	-9.73%	23.13%	28.66%	31.72%	33.34%	23.10%	37.13%	28.47%	35.41%	34.40%	36.96%	24.96%	30.31%	29.52%	27.33%
Unusual Items	-357M	-323M	-275M	-247M	-230M	-214M	-199M	-405M	-377M	-377M	-383M	-311M	-278M	-268M	-270M	-252M	-229M	-196M	-185M	-184M	-185M	-189M	-190M	-207M	-206M	-186M	-161M	-167M	-173M	-167M	-144M	-153M	-142M	-137M	-145M	-135M	-130M	-126M	-93M
Return on Unusual Items	-40.02%	-39.45%	-36.05%	-29.90%	-27.78%	-28.57%	-28.75%	-35.34%	-40.18%	-37.83%	-41.04%	-41.17%	-49.73%	-27.45%	-39.03%	-42.62%	-24.11%	-30.37%	-27.10%	-24.20%	-22.47%	-22.21%	-8.05%	-11.12%	9.73%	-23.13%	-28.66%	-31.72%	-33.34%	-23.10%	-37.13%	-28.47%	-35.41%	-34.40%	-36.58%	-24.72%	-30.31%	-29.52%	-27.33%
EBT Excluding Unusual Items	536M	483M	407M	349M	316M	294M	275M	585M	567M	555M	580M	472M	451M	358M	401M	385M	333M	281M	256M	246M	241M	246M	205M	230M	160M	236M	214M	229M	245M	210M	210M	205M	207M	199M	218M	181M	187M	179M	131M
Return on EBT Excluding Unusual Items	26.65%	26.23%	24.27%	20.83%	19.33%	19.99%	20.13%	24.49%	26.71%	25.69%	27.07%	27.18%	30.67%	20.53%	26.29%	27.92%	16.59%	21.17%	19.59%	18.08%	17.18%	17.09%	7.46%	9.99%	-12.51%	18.26%	21.65%	23.13%	23.65%	18.43%	25.37%	21.20%	24.23%	23.76%	24.37%	18.42%	21.11%	20.74%	19.50%
Pre-Tax Income	179M	160M	132M	102M	86M	81M	76M	180M	190M	178M	198M	160M	173M	90M	131M	133M	104M	85M	71M	62M	57M	57M	15M	23M	-46M	50M	52M	62M	71M	42M	67M	52M	65M	62M	73M	46M	57M	53M	38M
Return on Pre-Tax Income	79.84%	80.19%	75.62%	78.43%	78.11%	78.80%	77.42%	79.80%	79.64%	80.00%	79.50%	80.02%	80.00%	81.42%	80.50%	80.96%	53.18%	69.92%	70.64%	71.54%	73.08%	74.11%	102.55%	98.97%	43.73%	86.66%	88.60%	85.43%	81.35%	91.25%	80.09%	83.01%	76.69%	76.78%	73.00%	72.29%	69.54%	69.66%	68.00%
Income Tax Expense	36M	32M	31M	24M	18M	17M	16M	36M	39M	36M	40M	32M	35M	17M	26M	25M	49M	26M	21M	18M	15M	15M	0M	0M	-26M	7M	6M	9M	13M	4M	13M	9M	15M	14M	20M	12M	17M	16M	12M
Return on Income Tax Expense	396.16%	405.37%	345.17%	657.04%	619.13%	599.03%	539.68%	395.03%	391.05%	400.08%	387.89%	400.52%	400.05%	438.33%	412.81%	425.33%	113.60%	232.42%	240.66%	251.43%	271.46%	286.22%	-4,019.47%	9,614.23%	77.70%	649.68%	776.92%	586.49%	436.27%	1,042.68%	402.23%	488.45%	329.02%	330.65%	270.41%	273.77%	228.32%	229.63%	212.50%
Depreciation and Amortization	7M	9M	9M	9M	9M	9M	9M	7M	5M	6M	4M	11M	11M	12M	10M	8M	9M	7M	8M	14M	11M	8M	9M	11M	10M	10M	5M	9M	11M	9M	7M	7M	8M	7M	8M	8M	7M	6M	5M
Return on Depreciation and Amortization	2,516.12%	1,877.40%	1,384.56%	1,030.52%	884.34%	827.00%	781.05%	2,081.28%	3,091.60%	2,506.54%	3,827.07%	1,214.76%	1,208.33%	630.28%	1,015.75%	1,336.04%	613.15%	837.41%	656.32%	323.98%	374.05%	530.26%	169.22%	214.61%	-204.61%	414.38%	890.45%	616.96%	511.91%	407.38%	710.86%	591.39%	646.77%	631.63%	688.31%	422.78%	564.29%	581.25%	500.00%
EBITDA	185M	169M	141M	112M	95M	89M	85M	186M	195M	184M	202M	171M	184M	102M	141M	141M	113M	92M	79M	76M	68M	65M	24M	34M	-36M	60M	57M	71M	82M	52M	74M	60M	73M	69M	80M	54M	64M	60M	43M
Return on EBITDA	76.81%	75.52%	70.56%	68.10%	68.73%	69.24%	68.09%	76.85%	77.64%	77.48%	77.89%	75.08%	75.03%	72.11%	74.59%	76.34%	48.94%	64.53%	63.65%	58.52%	60.80%	65.02%	63.85%	67.73%	55.61%	71.67%	80.58%	75.04%	70.20%	74.55%	71.98%	72.79%	68.56%	68.46%	66.00%	61.74%	61.91%	62.21%	59.86%
NOPAT	143M	128M	102M	79M	68M	64M	60M	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	34M	40M	37M	26M
Return on NOPAT	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.94%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	98.24%	100.00%	100.00%	100.00%
Owner's Earnings	133M	123M	98M	77M	66M	62M	58M	146M	142M	133M	139M	128M	139M	77M	98M	106M	53M	59M	53M	47M	43M	40M	16M	29M	-17M	41M	42M	48M	55M	36M	56M	45M	50M	47M	53M	34M	40M	36M	27M
Return on Owner's Earnings	106.94%	103.01%	102.40%	99.73%	102.25%	101.87%	101.46%	97.88%	106.98%	107.43%	112.89%	100.51%	99.42%	94.79%	107.13%	101.47%	104.93%	100.63%	94.80%	94.19%	96.61%	105.72%	95.58%	79.79%	118.63%	104.10%	111.09%	109.75%	105.61%	107.07%	95.91%	97.80%	100.25%	100.54%	99.81%	99.40%	97.77%	103.91%	96.23%

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	143M	128M	102M	79M	68M	64M	59M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	33M	40M	37M	26M
Cash & Cash Equivalents	145M	237M	170M	140M	128M	120M	116M	133M	147M	154M	395M	357M	122M	99M	107M	116M	69M	75M	77M	103M	78M	70M	90M	89M	103M	96M	85M	82M	88M	83M	102M	91M	94M	100M	117M	74M	76M
Return on Cash & Cash Equivalents	98.94%	70.48%	72.26%	61.93%	56.17%	55.38%	53.08%	106.87%	106.85%	83.10%	34.97%	20.60%	86.44%	108.64%	51.42%	51.51%	72.20%	59.64%	53.57%	40.74%	19.46%	32.89%	-22.40%	48.65%	45.12%	55.09%	68.02%	47.14%	60.66%	52.39%	49.02%	51.83%	56.44%	33.57%	33.65%	50.54%	33.77%
Short-Term Investments	977M	961M	901M	930M	698M	558M	465M	1,148M	1,021M	763M	1,041M	831M	902M	909M	731M	779M	887M	1,310M	1,318M	1,171M	1,143M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Investments	14.87%	13.35%	11.11%	8.17%	6.13%	4.90%	4.08%	12.42%	15.38%	16.81%	13.28%	8.84%	11.67%	11.82%	7.54%	7.65%	5.66%	3.39%	3.15%	3.58%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	1,122M	1,198M	1,071M	1,070M	826M	679M	581M	1,281M	1,168M	917M	1,437M	1,188M	1,024M	1,008M	839M	894M	956M	1,384M	1,396M	1,274M	1,221M	70M	90M	89M	103M	96M	85M	82M	88M	83M	102M	91M	94M	100M	117M	74M	76M
Return on Cash & Short-Term Investments	12.85%	10.87%	9.38%	9.16%	16.59%	23.72%	26.70%	11.13%	13.45%	13.98%	9.62%	6.18%	10.28%	10.66%	6.58%	6.66%	5.25%	3.21%	2.97%	3.29%	1.25%	32.89%	-22.40%	48.65%	45.12%	55.09%	68.02%	47.14%	60.66%	52.39%	49.02%	51.83%	56.44%	33.57%	33.65%	50.54%	33.77%
Net Receivables	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 Net Receivables	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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
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	1,122M	1,198M	1,071M	1,070M	826M	679M	581M	1,281M	1,168M	917M	1,437M	1,188M	1,024M	1,008M	839M	894M	956M	1,384M	1,396M	1,274M	1,221M	70M	90M	89M	103M	96M	85M	82M	88M	83M	102M	91M	94M	100M	117M	74M	76M
Return on Total Current Assets	12.85%	10.87%	9.38%	9.16%	16.59%	23.72%	26.70%	11.13%	13.45%	13.98%	9.62%	6.18%	10.28%	10.66%	6.58%	6.66%	5.25%	3.21%	2.97%	3.29%	1.25%	32.89%	-22.40%	48.65%	45.12%	55.09%	68.02%	47.14%	60.66%	52.39%	49.02%	51.83%	56.44%	33.57%	33.65%	50.54%	33.77%
Property, Plant & Equipment	117M	120M	103M	91M	85M	78M	71M	116M	121M	115M	121M	126M	137M	80M	81M	68M	63M	65M	68M	69M	67M	67M	71M	73M	69M	69M	61M	57M	47M	46M	46M	45M	41M	42M	42M	33M	29M
Return on Property, Plant & Equipment	121.31%	107.39%	98.23%	81.99%	74.96%	79.63%	83.20%	122.79%	129.79%	111.36%	114.47%	58.52%	76.74%	133.58%	67.82%	88.24%	79.02%	68.40%	61.06%	60.83%	22.88%	34.31%	-28.36%	59.32%	66.56%	76.86%	95.03%	67.85%	114.53%	95.18%	108.25%	105.76%	129.58%	79.71%	95.18%	114.11%	86.73%
Goodwill	344M	327M	282M	242M	219M	182M	152M	364M	364M	303M	303M	303M	303M	274M	255M	186M	165M	161M	160M	160M	160M	160M	160M	160M	160M	160M	123M	124M	30M	8M	0M	0M	0M	0M	0M	0M	0M
Return on Goodwill	41.55%	38.89%	35.24%	30.40%	28.97%	52.98%	44.15%	39.20%	43.18%	42.26%	45.58%	24.21%	34.73%	39.20%	21.60%	31.95%	30.48%	27.54%	25.93%	26.23%	9.55%	14.37%	-12.54%	26.94%	28.91%	33.02%	47.14%	31.27%	178.54%	535.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	17M	15M	13M	10M	11M	9M	8M	20M	23M	9M	11M	13M	16M	13M	15M	12M	1M	2M	1M	2M	4M	5M	7M	10M	13M	17M	15M	18M	3M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Intangible Assets	935.61%	917.39%	1,099.21%	1,294.49%	1,030.24%	6,902.09%	5,751.74%	726.04%	688.27%	1,392.51%	1,235.76%	544.37%	643.61%	824.50%	367.60%	496.05%	4,073.35%	2,669.85%	3,164.15%	1,766.48%	397.45%	427.42%	-270.88%	421.06%	344.10%	313.91%	379.23%	220.70%	1,636.98%	150,089.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	8,914M	8,226M	6,996M	6,136M	5,996M	5,726M	5,305M	9,353M	9,351M	8,039M	7,319M	7,067M	6,507M	6,164M	5,826M	5,245M	5,086M	4,452M	4,265M	4,166M	4,036M	5,163M	5,777M	5,818M	5,301M	5,464M	5,525M	5,714M	4,861M	4,255M	4,296M	4,094M	4,059M	3,868M	3,426M	2,432M	2,218M
Return on Long-Term Investments	1.60%	1.55%	1.42%	1.20%	1.06%	1.05%	1.08%	1.52%	1.68%	1.59%	1.89%	1.04%	1.62%	1.74%	0.95%	1.14%	0.99%	1.00%	0.97%	1.01%	0.38%	0.45%	-0.35%	0.74%	0.87%	0.97%	1.05%	0.68%	1.10%	1.02%	1.17%	1.15%	1.31%	0.86%	1.15%	1.53%	1.15%
Tax Assets	0M	8M	4M	3M	2M	2M	1M	0M	0M	0M	39M	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%	70.10%	35.05%	23.37%	17.53%	14.02%	11.68%	0.00%	0.00%	0.00%	350.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	436M	406M	351M	343M	323M	290M	255M	451M	433M	422M	354M	371M	320M	288M	292M	278M	296M	296M	325M	324M	354M	347M	342M	277M	237M	237M	218M	204M	161M	133M	139M	143M	147M	88M	84M	46M	41M
Return on Other Non-Current Assets	32.74%	31.43%	28.46%	22.42%	20.72%	22.74%	27.74%	31.61%	36.26%	30.34%	39.10%	19.82%	32.89%	37.31%	18.87%	21.40%	16.96%	15.04%	12.77%	12.95%	4.32%	6.62%	-5.87%	15.57%	19.51%	22.32%	26.53%	18.93%	33.16%	32.72%	36.21%	33.06%	36.01%	38.13%	47.31%	80.52%	61.74%
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	9,828M	9,095M	7,745M	6,822M	6,635M	6,285M	5,790M	10,304M	10,292M	8,889M	8,108M	7,880M	7,285M	6,820M	6,470M	5,790M	5,611M	4,976M	4,819M	4,721M	4,620M	5,743M	6,357M	6,337M	5,781M	5,948M	5,941M	6,116M	5,101M	4,442M	4,481M	4,281M	4,247M	3,997M	3,551M	2,511M	2,289M
Return on Total Non-Current Assets	1.45%	1.40%	1.28%	1.08%	0.96%	0.96%	1.00%	1.38%	1.53%	1.44%	1.71%	0.93%	1.45%	1.58%	0.85%	1.03%	0.89%	0.89%	0.86%	0.89%	0.33%	0.40%	-0.32%	0.68%	0.80%	0.89%	0.97%	0.63%	1.04%	0.98%	1.12%	1.10%	1.25%	0.84%	1.11%	1.48%	1.11%
Total Assets	10,950M	10,293M	8,816M	7,892M	7,461M	6,963M	6,371M	11,585M	11,459M	9,806M	9,545M	9,068M	8,309M	7,828M	7,309M	6,684M	6,567M	6,360M	6,215M	5,995M	5,841M	5,813M	6,446M	6,426M	5,884M	6,044M	6,026M	6,198M	5,189M	4,525M	4,584M	4,372M	4,341M	4,097M	3,669M	2,585M	2,364M
Return on Total Assets	1.30%	1.23%	1.12%	0.93%	0.85%	0.87%	0.91%	1.23%	1.37%	1.31%	1.45%	0.81%	1.27%	1.37%	0.75%	0.89%	0.76%	0.70%	0.67%	0.70%	0.26%	0.40%	-0.31%	0.67%	0.79%	0.88%	0.96%	0.62%	1.03%	0.96%	1.09%	1.08%	1.22%	0.82%	1.08%	1.44%	1.08%
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
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%
Short-Term Debt	350M	261M	532M	527M	576M	571M	510M	80M	598M	373M	138M	117M	202M	722M	707M	868M	1,511M	1,106M	627M	356M	313M	188M	959M	1,140M	354M	500M	666M	946M	634M	469M	428M	272M	425M	141M	203M	150M	121M
Return on Short-Term Debt	79.52%	80.22%	48.62%	35.05%	27.99%	24.42%	23.74%	177.91%	26.27%	34.39%	99.96%	62.58%	52.18%	14.89%	7.80%	6.87%	3.32%	4.02%	6.62%	11.78%	4.88%	12.23%	-2.09%	3.78%	13.06%	10.59%	8.69%	4.08%	8.41%	9.28%	11.73%	17.36%	12.48%	23.77%	19.42%	24.75%	21.11%
Tax Payables	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 Payables	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	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	8,959M	8,459M	6,960M	6,146M	5,684M	5,201M	4,762M	9,678M	9,192M	8,005M	7,982M	7,439M	6,678M	5,898M	5,581M	4,947M	4,196M	4,316M	4,604M	4,558M	4,505M	4,618M	4,536M	4,280M	4,347M	4,326M	3,997M	3,844M	3,288M	3,044M	3,093M	3,064M	2,949M	2,931M	2,884M	2,105M	1,963M
Return on Other Current Liabilities	1.59%	1.50%	1.43%	1.20%	1.11%	1.18%	1.23%	1.47%	1.71%	1.60%	1.73%	0.99%	1.58%	1.82%	0.99%	1.20%	1.20%	1.03%	0.90%	0.92%	0.34%	0.50%	-0.44%	1.01%	1.06%	1.22%	1.45%	1.01%	1.62%	1.43%	1.62%	1.54%	1.80%	1.14%	1.37%	1.77%	1.30%
Total Current Liabilities	9,309M	8,721M	7,491M	6,673M	6,260M	5,773M	5,273M	9,758M	9,790M	8,378M	8,121M	7,556M	6,879M	6,620M	6,288M	5,815M	5,707M	5,421M	5,230M	4,914M	4,817M	4,806M	5,495M	5,420M	4,701M	4,826M	4,662M	4,791M	3,922M	3,513M	3,549M	3,336M	3,374M	3,072M	3,088M	2,255M	2,084M
Return on Total Current Liabilities	1.53%	1.45%	1.32%	1.10%	1.01%	1.06%	1.11%	1.46%	1.60%	1.53%	1.70%	0.97%	1.53%	1.62%	0.88%	1.02%	0.88%	0.82%	0.79%	0.85%	0.32%	0.48%	-0.37%	0.79%	0.98%	1.10%	1.24%	0.81%	1.36%	1.24%	1.41%	1.42%	1.57%	1.09%	1.28%	1.65%	1.22%
Long-Term Debt	205M	203M	167M	182M	262M	351M	343M	258M	181M	176M	176M	227M	227M	178M	80M	81M	81M	162M	217M	280M	207M	204M	274M	289M	548M	593M	800M	840M	794M	580M	664M	657M	638M	631M	193M	41M	5M
Return on Long-Term Debt	71.64%	65.21%	63.67%	47.79%	37.45%	31.31%	46.29%	55.29%	86.73%	72.91%	78.72%	32.37%	46.33%	60.45%	68.67%	73.64%	61.54%	27.50%	19.16%	14.97%	7.36%	11.24%	-7.31%	14.90%	8.44%	8.92%	7.23%	4.60%	6.71%	7.51%	7.56%	7.19%	8.30%	5.29%	20.46%	90.95%	481.13%
Capital Lease Obligations	5M	5M	5M	3M	2M	2M	2M	4M	5M	5M	6M	6M	7M	7M	8M	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	2,955.67%	2,470.47%	1,611.43%	1,074.29%	805.71%	644.57%	537.14%	3,294.94%	3,209.30%	2,362.78%	2,335.03%	1,150.31%	1,545.61%	1,489.51%	726.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	2M	1M	1M	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%	1,414.68%	943.12%	707.34%	565.87%	471.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4,402.05%	4,227.20%	5,517.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	174M	173M	119M	98M	87M	77M	70M	159M	168M	194M	133M	210M	139M	48M	44M	38M	59M	61M	56M	55M	58M	53M	38M	64M	65M	53M	43M	36M	42M	30M	28M	45M	42M	39M	33M	27M	23M
Return on Other Non-Current Liabilities	83.07%	77.68%	105.47%	89.83%	83.37%	93.12%	96.82%	89.88%	93.32%	66.00%	104.24%	34.94%	75.53%	223.98%	124.46%	157.55%	84.78%	72.72%	73.90%	76.21%	26.47%	43.47%	-52.36%	67.56%	70.65%	100.52%	133.53%	107.44%	127.28%	143.98%	176.98%	105.03%	125.89%	85.86%	118.26%	136.76%	109.91%
Total Non-Current Liabilities	384M	382M	291M	284M	352M	430M	414M	422M	355M	375M	315M	443M	374M	233M	132M	119M	141M	223M	273M	335M	265M	257M	313M	353M	613M	646M	843M	876M	836M	610M	693M	702M	681M	670M	227M	68M	29M
Return on Total Non-Current Liabilities	37.40%	34.53%	37.45%	29.13%	23.26%	19.89%	22.38%	33.82%	44.23%	34.14%	43.90%	16.56%	28.19%	46.13%	41.72%	50.19%	35.66%	19.96%	15.21%	12.51%	5.76%	8.93%	-6.42%	12.21%	7.54%	8.20%	6.86%	4.41%	6.38%	7.13%	7.25%	6.73%	7.79%	4.99%	17.44%	54.63%	89.47%
Total Liabilities	9,693M	9,103M	7,782M	6,958M	6,612M	6,201M	5,686M	10,180M	10,145M	8,754M	8,436M	7,999M	7,253M	6,853M	6,420M	5,934M	5,847M	5,644M	5,503M	5,249M	5,083M	5,063M	5,807M	5,773M	5,315M	5,473M	5,505M	5,667M	4,758M	4,123M	4,213M	4,038M	4,054M	3,741M	3,314M	2,323M	2,112M
Return on Total Liabilities	1.47%	1.39%	1.27%	1.05%	0.95%	0.97%	1.02%	1.40%	1.55%	1.46%	1.64%	0.92%	1.45%	1.57%	0.86%	1.00%	0.86%	0.79%	0.75%	0.80%	0.30%	0.45%	-0.35%	0.75%	0.87%	0.97%	1.05%	0.68%	1.12%	1.06%	1.19%	1.17%	1.31%	0.89%	1.19%	1.60%	1.21%
Preferred Stock	0M	0M	0M	0M	0M	0M	2M	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	47M	0M	0M	0M	0M
Return on Preferred Stock	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	113.98%	0.00%	0.00%	0.00%	0.00%
Common Stock	120M	118M	114M	111M	103M	96M	82M	124M	124M	114M	114M	114M	114M	114M	114M	106M	106M	106M	106M	106M	106M	106M	87M	87M	75M	75M	72M	72M	64M	63M	63M	63M	63M	0M	0M	0M	0M
Return on Common Stock	118.31%	108.16%	88.00%	69.16%	63.82%	65.57%	57.47%	115.35%	127.07%	112.52%	121.37%	64.48%	92.47%	94.37%	48.43%	56.45%	47.50%	42.11%	39.30%	39.74%	14.47%	21.78%	-23.17%	49.75%	61.58%	70.51%	80.35%	53.70%	83.67%	69.61%	80.27%	75.56%	84.80%	0.00%	0.00%	0.00%	0.00%
Retained Earnings	876M	783M	623M	521M	468M	434M	396M	971M	881M	775M	691M	597M	577M	511M	437M	413M	378M	353M	335M	316M	294M	291M	279M	310M	319M	322M	319M	307M	312M	296M	288M	272M	258M	236M	228M	169M	158M
Return on Retained Earnings	16.35%	16.27%	16.09%	14.15%	13.40%	13.89%	14.58%	14.68%	17.83%	16.54%	20.00%	12.31%	18.24%	21.02%	12.61%	14.44%	13.26%	12.59%	12.39%	13.29%	5.19%	7.88%	-7.19%	13.90%	14.49%	16.42%	18.15%	12.58%	17.07%	14.70%	17.41%	17.36%	20.56%	14.18%	17.31%	22.05%	16.18%
Accumulated OCI	-117M	-69M	-36M	-26M	-23M	-18M	-16M	-103M	-112M	-138M	-9M	17M	6M	-11M	-6M	-7M	-2M	-4M	-21M	1M	2M	-2M	-6M	-21M	-10M	-20M	-23M	4M	13M	23M	5M	-13M	-47M	2M	2M	1M	1M
Return on Accumulated OCI	-124.24%	-304.67%	-442.64%	-163.68%	-166.02%	-39.17%	339.40%	-139.08%	-140.54%	-93.09%	-1,576.84%	426.20%	1,888.03%	-947.87%	-893.65%	-848.01%	-2,101.55%	-988.06%	-201.49%	3,332.33%	763.32%	-934.83%	331.91%	-202.58%	-474.50%	-271.36%	-248.70%	1,009.98%	404.43%	190.94%	1,096.55%	-360.79%	-113.98%	1,518.18%	1,795.45%	2,861.54%	5,100.00%
Minority Interest	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 Minority Interest	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Shareholders’ Equity	1,257M	1,190M	1,034M	935M	849M	762M	685M	1,405M	1,314M	1,052M	1,109M	1,069M	1,056M	975M	888M	750M	720M	716M	712M	746M	759M	750M	639M	653M	569M	571M	521M	532M	431M	401M	370M	334M	287M	355M	354M	261M	252M
Return on Total Shareholders’ Equity	11.43%	10.72%	9.57%	7.90%	7.52%	8.34%	9.07%	10.15%	11.95%	12.18%	12.46%	6.87%	9.98%	11.02%	6.21%	7.95%	6.97%	6.21%	5.83%	5.62%	2.01%	3.06%	-3.14%	6.60%	8.13%	9.27%	11.10%	7.27%	12.37%	10.84%	13.56%	14.14%	18.49%	9.40%	11.15%	14.23%	10.11%
Total Equity	1,257M	1,190M	1,034M	935M	849M	762M	685M	1,405M	1,314M	1,052M	1,109M	1,069M	1,056M	975M	888M	750M	720M	716M	712M	746M	759M	750M	639M	653M	569M	571M	521M	532M	431M	401M	370M	334M	287M	355M	354M	261M	252M
Return on Total Equity	11.43%	10.72%	9.57%	7.90%	7.52%	8.34%	9.07%	10.15%	11.95%	12.18%	12.46%	6.87%	9.98%	11.02%	6.21%	7.95%	6.97%	6.21%	5.83%	5.62%	2.01%	3.06%	-3.14%	6.60%	8.13%	9.27%	11.10%	7.27%	12.37%	10.84%	13.56%	14.14%	18.49%	9.40%	11.15%	14.23%	10.11%
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	9,891M	9,187M	7,897M	7,066M	6,694M	6,284M	5,770M	10,501M	10,372M	8,801M	8,361M	7,899M	7,410M	7,073M	6,557M	6,024M	5,973M	5,762M	5,583M	5,337M	5,178M	5,163M	5,777M	5,818M	5,301M	5,464M	5,525M	5,714M	4,861M	4,255M	4,296M	4,094M	4,059M	3,868M	3,426M	2,432M	2,218M
Return on Total Investments	1.44%	1.38%	1.25%	1.04%	0.94%	0.96%	1.00%	1.36%	1.51%	1.46%	1.65%	0.93%	1.42%	1.52%	0.84%	0.99%	0.84%	0.77%	0.74%	0.79%	0.29%	0.45%	-0.35%	0.74%	0.87%	0.97%	1.05%	0.68%	1.10%	1.02%	1.17%	1.15%	1.31%	0.86%	1.15%	1.53%	1.15%
Net Debt	416M	233M	533M	573M	713M	804M	739M	210M	638M	400M	-75M	-6M	314M	808M	688M	833M	1,523M	1,193M	766M	533M	442M	323M	1,144M	1,340M	800M	997M	1,380M	1,704M	1,340M	966M	990M	838M	969M	672M	279M	118M	51M
Return on Net Debt	41.56%	-258.79%	-122.87%	-80.07%	-59.22%	-46.51%	-35.21%	67.98%	24.63%	32.07%	-184.87%	-1,233.78%	33.53%	13.31%	8.02%	7.15%	3.29%	3.73%	5.42%	7.86%	3.46%	7.12%	-1.75%	3.21%	5.78%	5.31%	4.19%	2.27%	3.98%	4.51%	5.07%	5.64%	5.47%	4.97%	14.15%	31.63%	50.40%

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	143M	128M	102M	79M	68M	64M	59M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	33M	40M	37M	26M
Working Capital	-8,187M	-7,523M	-6,420M	-5,603M	-5,434M	-5,094M	-4,692M	-8,477M	-8,622M	-7,461M	-6,684M	-6,368M	-5,855M	-5,612M	-5,450M	-4,921M	-4,751M	-4,037M	-3,835M	-3,640M	-3,596M	-4,736M	-5,405M	-5,332M	-4,599M	-4,730M	-4,577M	-4,709M	-3,835M	-3,430M	-3,447M	-3,245M	-3,280M	-2,972M	-2,970M	-2,182M	-2,008M
Return on Working Capital	-1.74%	-1.69%	-1.54%	-1.31%	-1.18%	-1.20%	-1.23%	-1.68%	-1.82%	-1.72%	-2.07%	-1.15%	-1.80%	-1.92%	-1.01%	-1.21%	-1.06%	-1.10%	-1.08%	-1.15%	-0.42%	-0.49%	0.37%	-0.81%	-1.01%	-1.12%	-1.26%	-0.82%	-1.39%	-1.27%	-1.46%	-1.46%	-1.62%	-1.12%	-1.33%	-1.71%	-1.27%
Total Capital	1,818M	1,660M	1,737M	1,647M	1,689M	1,686M	1,540M	1,748M	2,099M	1,606M	1,430M	1,419M	1,492M	1,882M	1,684M	1,699M	2,312M	1,984M	1,555M	1,382M	1,279M	1,142M	1,872M	2,082M	1,471M	1,665M	1,986M	2,318M	1,859M	1,450M	1,462M	1,263M	1,350M	1,127M	751M	453M	378M
Return on Total Capital	7.87%	7.69%	6.02%	4.76%	4.08%	3.85%	4.11%	8.15%	7.48%	7.98%	9.67%	5.18%	7.06%	5.71%	3.28%	3.51%	2.17%	2.24%	2.67%	3.03%	1.19%	2.01%	-1.07%	2.07%	3.14%	3.18%	2.91%	1.67%	2.87%	3.00%	3.43%	3.74%	3.93%	2.96%	5.26%	8.22%	6.74%
Capital Employed	1,641M	1,572M	1,325M	1,219M	1,200M	1,190M	1,098M	1,827M	1,669M	1,428M	1,424M	1,512M	1,429M	1,208M	1,020M	869M	860M	939M	984M	1,081M	1,024M	1,007M	952M	1,006M	1,182M	1,217M	1,364M	1,408M	1,267M	1,012M	1,034M	1,036M	967M	1,025M	581M	330M	281M
Return on Capital Employed	8.73%	8.15%	7.51%	6.11%	5.32%	5.08%	5.43%	7.80%	9.41%	8.98%	9.71%	4.86%	7.37%	8.90%	5.41%	6.86%	5.83%	4.73%	4.21%	3.88%	1.49%	2.28%	-2.11%	4.28%	3.91%	4.35%	4.24%	2.75%	4.21%	4.30%	4.85%	4.56%	5.48%	3.26%	6.80%	11.29%	9.08%
Invested Capital	1,673M	1,423M	1,567M	1,507M	1,561M	1,565M	1,424M	1,615M	1,952M	1,452M	1,035M	1,063M	1,370M	1,783M	1,576M	1,583M	2,242M	1,909M	1,477M	1,279M	1,200M	1,072M	1,783M	1,993M	1,368M	1,569M	1,901M	2,236M	1,771M	1,367M	1,360M	1,172M	1,256M	1,027M	633M	379M	303M
Return on Invested Capital	8.57%	9.20%	6.92%	5.40%	4.59%	4.30%	4.65%	8.83%	8.05%	8.83%	13.36%	6.91%	7.69%	6.03%	3.50%	3.76%	2.24%	2.33%	2.81%	3.28%	1.27%	2.14%	-1.13%	2.16%	3.38%	3.38%	3.04%	1.73%	3.01%	3.18%	3.69%	4.03%	4.22%	3.25%	6.24%	9.82%	8.42%

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	143M	128M	102M	79M	68M	64M	59M	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	33M	40M	37M	26M
Depreciation & Amortization	7M	9M	9M	9M	9M	9M	9M	7M	5M	6M	4M	11M	11M	12M	10M	8M	9M	7M	8M	14M	11M	8M	9M	11M	10M	10M	5M	9M	11M	9M	7M	7M	8M	7M	8M	8M	7M	6M	5M
Return on Depreciation & Amortization	2,516.12%	1,877.40%	1,384.56%	1,030.52%	884.34%	827.00%	781.05%	2,081.28%	3,091.60%	2,506.54%	3,827.07%	1,214.76%	1,208.33%	630.28%	1,015.75%	1,336.04%	613.15%	837.41%	656.32%	323.98%	374.05%	530.26%	169.22%	214.61%	-204.61%	414.38%	890.45%	616.96%	511.91%	407.38%	710.86%	591.39%	646.77%	631.63%	688.31%	422.78%	564.29%	581.25%	500.00%
Deferred Income Tax	3M	0M	5M	4M	1M	1M	1M	2M	6M	3M	7M	-2M	1M	-8M	2M	3M	21M	6M	13M	5M	13M	3M	-1M	-5M	-29M	-7M	-2M	-3M	0M	-2M	-2M	-1M	-1M	2M	0M	-1M	1M	1M	1M
Return on Deferred Income Tax	32.45%	1,771.66%	1,825.35%	1,291.04%	3,454.77%	2,173.80%	2,723.26%	6,272.99%	2,729.65%	4,176.10%	2,295.24%	-6,373.99%	9,654.82%	-893.84%	4,595.68%	3,095.25%	264.90%	1,043.06%	396.29%	914.29%	326.53%	1,644.61%	-1,281.38%	-491.93%	68.93%	-579.44%	-1,869.44%	-1,942.55%	54,052.34%	-2,080.30%	-2,384.79%	-7,327.61%	-6,039.59%	3,081.93%	17,666.67%	-2,385.71%	3,038.46%	6,200.00%	2,833.33%
Stock-Based Compensation	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	3M	1M	1M	1M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	0.00%	0.00%	544.38%	1,459.23%	1,094.42%	875.54%	729.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,862.19%	3,581.64%	4,445.30%	8,296.40%	3,702.91%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-5M	-2M	-2M	1M	0M	-1M	-1M	-18M	17M	4M	-8M	-10M	16M	-13M	2M	-4M	0M	-1M	0M	2M	8M	13M	0M	5M	-33M	-2M	4M	3M	6M	-1M	2M	-2M	-12M	7M	1M	-3M	-6M	1M	1M
Return on Change in Working Capital	253.73%	206.09%	340.73%	195.81%	216.06%	30.21%	286.13%	-778.80%	917.87%	3,873.19%	-1,859.61%	-1,252.38%	856.77%	-587.53%	6,379.95%	-2,619.35%	12,829.07%	-4,143.95%	-10,068.88%	2,224.87%	497.45%	333.34%	-3,967.27%	441.46%	61.44%	-2,364.82%	1,188.95%	1,578.83%	919.64%	-4,813.45%	2,975.99%	-2,002.12%	-406.82%	680.48%	3,785.71%	-982.35%	-669.49%	2,861.54%	2,833.33%
Accounts Receivable	-4M	-3M	-2M	-1M	0M	0M	0M	0M	-1M	3M	-9M	-7M	6M	-11M	0M	-3M	-1M	-1M	0M	1M	1M	3M	1M	4M	4M	3M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Receivable	230.64%	471.41%	-11,376.48%	-6,516.88%	-4,830.77%	-3,864.61%	-3,220.51%	-29,541.24%	-16,635.57%	4,341.41%	-1,777.13%	-1,872.35%	2,349.31%	-684.18%	24,901.42%	-4,197.50%	-4,198.25%	-10,327.56%	-122,300.00%	8,201.66%	4,504.02%	1,560.21%	1,197.02%	548.66%	-526.34%	1,664.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	2M	1M	1M	0M	0M	0M	0M	-17M	19M	1M	5M	1M	0M	-1M	0M	0M	0M	0M	0M	0M	-1M	-1M	-1M	-1M	-3M	-7M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Payable	8,603.97%	-3,220.27%	-8,682.08%	-7,206.21%	-5,395.25%	-4,316.20%	-3,596.83%	-836.25%	811.95%	11,734.32%	3,140.63%	10,936.95%	-33,557.52%	-8,355.75%	-41,145.70%	28,067.36%	12,949.53%	-21,908.09%	-48,682.52%	-11,003.22%	-3,539.42%	-3,277.66%	-1,073.37%	-2,378.67%	781.31%	-593.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Working Capital	-3M	0M	0M	2M	0M	0M	0M	-1M	-1M	-1M	-5M	-5M	11M	-1M	1M	-2M	1M	-1M	0M	2M	9M	11M	0M	2M	-34M	3M	4M	3M	6M	-1M	2M	-2M	-12M	7M	1M	-3M	-6M	1M	1M
Return on Other Working Capital	-7,882.49%	-6,126.27%	-4,921.12%	-3,414.79%	-2,298.25%	-1,981.24%	-1,390.07%	-18,392.17%	-12,192.28%	-17,429.34%	-3,407.75%	-2,810.37%	1,296.48%	-8,280.38%	7,097.91%	-5,581.41%	4,185.51%	-10,117.15%	-14,164.69%	2,389.95%	482.91%	375.36%	-6,417.65%	1,158.75%	59.18%	1,510.23%	1,188.95%	1,578.83%	919.64%	-4,813.45%	2,975.99%	-2,002.12%	-406.82%	680.48%	3,785.71%	-982.35%	-669.49%	2,861.54%	2,833.33%
Other Non-Cash Items	-3M	6M	6M	16M	21M	17M	15M	15M	-19M	-26M	-9M	25M	-2M	41M	-12M	20M	0M	18M	3M	17M	12M	14M	61M	77M	129M	25M	17M	3M	2M	-6M	-3M	9M	2M	3M	-10M	16M	7M	1M	5M
Return on Other Non-Cash Items	-606.73%	-1,572.86%	-610.45%	-342.78%	49.32%	158.56%	336.54%	938.95%	-817.11%	-550.64%	-1,783.79%	514.25%	-6,222.19%	178.09%	-876.75%	528.25%	0.00%	325.77%	1,782.55%	259.91%	342.29%	305.76%	24.88%	29.98%	-15.52%	175.47%	273.90%	2,042.98%	3,651.26%	-617.84%	-1,731.08%	461.96%	3,252.69%	1,611.94%	-546.39%	211.39%	598.48%	5,314.29%	554.35%
Net Cash from Operating Activities	144M	140M	120M	109M	99M	90M	83M	149M	160M	129M	151M	151M	165M	106M	108M	135M	88M	89M	73M	82M	86M	79M	84M	111M	57M	69M	70M	65M	77M	39M	57M	58M	46M	66M	53M	53M	49M	46M	37M
Return on Net Cash from Operating Activities	99.65%	90.44%	82.77%	68.16%	63.67%	68.82%	70.50%	95.96%	94.74%	110.13%	104.18%	84.66%	83.77%	69.49%	97.86%	79.47%	62.47%	66.75%	68.92%	54.12%	48.38%	53.29%	18.16%	20.73%	-35.06%	62.64%	66.31%	81.77%	75.41%	98.54%	93.06%	75.64%	108.34%	71.44%	100.57%	63.14%	81.44%	80.52%	68.92%
Capital Expenditures (PPE)	-16M	-13M	-12M	-11M	-11M	-10M	-10M	-18M	-15M	-16M	-22M	-11M	-11M	-8M	-17M	-10M	-12M	-7M	-5M	-11M	-10M	-10M	-8M	-5M	-7M	-12M	-10M	-13M	-14M	-12M	-5M	-6M	-8M	-8M	-8M	-8M	-6M	-8M	-4M
Return on Capital Expenditures (PPE)	-924.56%	-1,007.54%	-906.11%	-730.83%	-614.48%	-622.38%	-614.57%	-809.37%	-1,025.03%	-917.10%	-712.82%	-1,143.76%	-1,299.53%	-964.50%	-606.06%	-1,119.89%	-475.93%	-795.49%	-1,026.05%	-404.85%	-430.53%	-412.04%	-183.58%	-470.28%	301.49%	-356.27%	-471.46%	-398.48%	-402.45%	-321.00%	-1,019.71%	-682.01%	-636.43%	-610.73%	-697.37%	-433.77%	-647.54%	-476.92%	-621.95%
Acquisitions (Net)	5M	3M	83M	55M	44M	33M	27M	0M	0M	0M	14M	0M	0M	0M	332M	1M	3M	479M	-4M	-3M	0M	0M	0M	0M	0M	0M	0M	60M	0M	-71M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Acquisitions (Net)	361.26%	216.76%	1,668.70%	1,015.04%	765.67%	610.35%	508.63%	0.00%	0.00%	0.00%	1,083.79%	0.00%	0.00%	0.00%	31.68%	15,247.94%	1,730.40%	12.43%	-1,419.28%	-1,461.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	87.75%	0.00%	-54.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Purchases of Investments	-277M	-473M	-369M	-419M	-393M	-464M	-460M	-366M	-549M	-493M	-339M	0M	-1,039M	-497M	-139M	-353M	-253M	-174M	-405M	-340M	-540M	-605M	-724M	-387M	-211M	-314M	-344M	-217M	-478M	-761M	-1,415M	-563M	-814M	-191M	-492M	-1,076M	-382M	-158M	-83M
Return on Purchases of Investments	-21,388.61%	-12,838.78%	-6,436.86%	-4,293.63%	-3,222.93%	-2,580.24%	-2,152.82%	-39.19%	-27.61%	-28.94%	-46.39%	-64,090.50%	-13.31%	-14.78%	-75.85%	-30.49%	-21.78%	-34.23%	-12.38%	-13.09%	-7.68%	-6.93%	-2.11%	-5.94%	9.49%	-13.74%	-13.44%	-24.38%	-12.09%	-5.08%	-3.77%	-7.73%	-6.16%	-24.74%	-10.77%	-3.10%	-10.35%	-23.62%	-30.80%
Sales / Maturities of Investments	259M	384M	346M	395M	420M	479M	453M	426M	292M	377M	174M	225M	555M	591M	245M	204M	343M	278M	471M	376M	357M	575M	557M	591M	436M	446M	433M	437M	736M	878M	1,111M	672M	717M	199M	361M	568M	275M	218M	174M
Return on Sales / Maturities of Investments	61.70%	44.49%	36.62%	26.91%	21.97%	19.43%	18.41%	33.60%	51.84%	37.86%	90.32%	56.92%	24.90%	12.42%	43.03%	52.63%	16.06%	21.43%	10.65%	11.83%	11.61%	7.30%	2.74%	3.89%	-4.60%	9.66%	10.67%	12.12%	7.85%	4.40%	4.80%	6.48%	7.00%	23.77%	14.67%	5.88%	14.36%	17.06%	14.67%
Other Investing Activities	-398M	-367M	-274M	-182M	-188M	-164M	-160M	-459M	-34M	10M	-402M	-803M	-71M	-570M	-298M	-190M	-135M	-82M	-200M	-186M	-115M	-131M	95M	347M	-309M	-731M	77M	41M	-117M	-163M	21M	-55M	-107M	-14M	-148M	57M	-236M	-294M	-106M
Return on Other Investing Activities	464.47%	237.28%	95.59%	59.11%	51.35%	31.78%	25.45%	-31.20%	-445.25%	1,448.46%	-39.07%	-15.97%	-194.16%	-12.89%	-35.34%	-56.43%	-41.00%	-72.55%	-25.12%	-23.88%	-36.04%	-32.12%	16.08%	6.63%	6.50%	-5.89%	60.07%	129.14%	-49.42%	-23.66%	250.59%	-78.98%	-46.89%	-333.59%	-35.88%	58.39%	-16.74%	-12.67%	-24.06%
Net Cash from Investing Activities	-428M	-467M	-226M	-163M	-128M	-126M	-150M	-416M	-305M	-122M	-574M	-589M	-565M	-483M	123M	-348M	-53M	494M	-142M	-164M	-307M	-171M	-80M	543M	-91M	-611M	157M	308M	126M	-129M	-287M	47M	-212M	-14M	-286M	-459M	-348M	-241M	-19M
Return on Net Cash from Investing Activities	-55.42%	-41.18%	-27.88%	-23.91%	-12.56%	-22.65%	-25.08%	-34.43%	-49.61%	-117.13%	-27.35%	-21.77%	-24.46%	-15.20%	85.68%	-30.91%	-104.49%	12.07%	-35.20%	-27.10%	-13.50%	-24.48%	-19.10%	4.23%	22.06%	-7.06%	29.55%	17.21%	45.73%	-29.89%	-18.54%	91.96%	-23.64%	-334.86%	-18.52%	-7.28%	-11.34%	-15.44%	-133.51%
Net Debt Issuance	-53M	-55M	-113M	-66M	-80M	-53M	-16M	-286M	-57M	-442M	51M	233M	-30M	-86M	-460M	77M	-161M	-639M	330M	431M	224M	159M	67M	-746M	-128M	423M	-184M	-385M	-327M	93M	193M	-42M	164M	-133M	294M	369M	188M	80M	-83M
Return on Net Debt Issuance	109.96%	-42.73%	-12.60%	-3.42%	-4.09%	-4.86%	-1.92%	-50.02%	-267.99%	-32.25%	307.15%	54.97%	-457.70%	-85.83%	-22.90%	138.86%	-34.19%	-9.32%	15.20%	10.31%	18.54%	26.34%	22.64%	-3.08%	15.68%	10.19%	-25.08%	-13.76%	-17.67%	41.55%	27.55%	-103.89%	30.59%	-35.46%	18.03%	9.04%	21.06%	46.73%	-30.87%
Long-Term Debt Issuance	24M	4M	6M	-3M	-30M	-32M	-6M	105M	-51M	76M	-1M	-1M	-51M	-1M	49M	74M	-1M	-1M	-80M	-55M	-65M	75M	5M	-67M	-11M	-253M	-39M	-219M	-42M	-166M	28M	-83M	9M	19M	10M	432M	141M	35M	-2M
Return on Long-Term Debt Issuance	-7,593.34%	-5,958.95%	-4,654.93%	-3,091.28%	-2,324.09%	-1,821.51%	-1,544.93%	136.03%	-295.32%	188.43%	-12,357.44%	-10,611.01%	-270.30%	-6,744.44%	215.12%	145.16%	-6,505.31%	-10,546.90%	-62.57%	-80.99%	-64.14%	56.30%	303.12%	-34.22%	186.89%	-17.03%	-119.73%	-24.16%	-138.47%	-23.32%	187.48%	-52.30%	588.66%	243.45%	546.39%	7.73%	27.95%	107.83%	-1,500.00%
Short-Term Debt Issuance	-77M	-59M	-119M	-63M	-49M	-21M	-9M	-392M	-5M	-518M	52M	234M	21M	-84M	-509M	3M	-160M	-639M	410M	486M	288M	85M	62M	-679M	-117M	676M	-146M	-166M	-286M	259M	165M	41M	156M	-153M	284M	-63M	46M	45M	-81M
Return on Short-Term Debt Issuance	108.95%	180.02%	405.01%	276.28%	204.19%	169.51%	144.65%	-36.57%	-2,896.60%	-27.54%	299.70%	54.69%	660.19%	-86.94%	-20.70%	3,202.20%	-34.38%	-9.33%	12.23%	9.14%	14.38%	49.50%	24.47%	-3.38%	17.12%	6.37%	-31.72%	-31.97%	-20.25%	14.94%	32.29%	105.31%	32.26%	-30.95%	18.64%	-53.10%	85.31%	82.48%	-31.52%
Net Stock Issuance	-14M	-19M	-15M	-11M	-3M	-1M	-3M	-21M	-5M	-12M	-15M	-15M	-31M	-21M	-6M	-26M	-1M	-1M	-25M	-31M	-33M	-35M	0M	88M	0M	113M	-8M	3M	5M	10M	6M	5M	3M	-1M	-50M	0M	-6M	-6M	-1M
Return on Net Stock Issuance	-1,016.42%	-769.85%	-1,988.46%	-857.88%	-751.62%	-777.12%	353.10%	-689.35%	-2,908.83%	-1,147.37%	-1,067.00%	-834.89%	-444.86%	-355.11%	-1,741.62%	-413.76%	-4,484.96%	-9,195.99%	-199.05%	-144.50%	-124.71%	-119.14%	7,378.74%	26.07%	-4,305.58%	38.07%	-567.21%	1,525.17%	1,145.27%	399.34%	899.88%	934.84%	2,007.56%	-8,637.29%	-106.43%	33,400.00%	-669.49%	-641.38%	-1,961.54%
Common Stock Issuance	0M	0M	0M	6M	11M	9M	8M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	0M	88M	0M	113M	0M	0M	5M	10M	0M	5M	3M	0M	0M	0M	0M	0M	0M
Return on Common Stock Issuance	62,104.79%	56,335.30%	46,117.84%	34,605.25%	25,805.83%	20,778.34%	17,315.28%	60,453.59%	74,289.22%	69,888.24%	64,107.35%	52,318.78%	62,277.93%	33,084.23%	49,920.85%	51,681.73%	24,195.18%	27,587.96%	26,116.15%	23,152.60%	23,569.32%	4,081.13%	7,071.30%	26.06%	-4,145.45%	38.07%	0.00%	0.00%	1,145.27%	399.34%	0.00%	934.84%	2,007.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Repurchased	-14M	-19M	-16M	-17M	-13M	-11M	-9M	-21M	-5M	-13M	-15M	-16M	-31M	-21M	-6M	-26M	-1M	-1M	-25M	-31M	-33M	-36M	0M	0M	0M	0M	-10M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Repurchased	-1,000.05%	-758.64%	-1,676.47%	-29,478.02%	-16,558.38%	-13,246.70%	-11,038.92%	-681.58%	-2,799.22%	-1,128.84%	-1,049.54%	-821.78%	-441.70%	-351.34%	-1,682.90%	-410.47%	-3,783.61%	-6,896.99%	-197.55%	-143.60%	-124.05%	-115.76%	-169,711.11%	-255,311.11%	111,466.67%	0.00%	-463.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-49M	-47M	-39M	-32M	-35M	-35M	-33M	-55M	-52M	-53M	-51M	-45M	-44M	-43M	-39M	-35M	-31M	-25M	-25M	-26M	-22M	-19M	-13M	-5M	-30M	-49M	-50M	-49M	-46M	-42M	-37M	-35M	-34M	-33M	-28M	-26M	-22M	-20M	-14M
Return on Net Dividends Paid	-289.23%	-271.12%	-255.13%	-245.68%	-201.63%	-187.51%	-185.19%	-261.85%	-290.69%	-271.04%	-309.09%	-287.54%	-317.02%	-170.88%	-267.38%	-308.47%	-180.79%	-239.25%	-199.86%	-169.84%	-185.65%	-223.65%	-121.63%	-433.06%	67.61%	-87.26%	-93.33%	-109.17%	-125.21%	-92.61%	-145.51%	-123.63%	-148.45%	-145.14%	-190.65%	-129.96%	-182.03%	-186.93%	-178.32%
Common Dividends Paid	-49M	-47M	-39M	-32M	-35M	-35M	-33M	-55M	-52M	-53M	-51M	-45M	-44M	-43M	-39M	-35M	-31M	-25M	-25M	-26M	-22M	-19M	-13M	-5M	-30M	-49M	-50M	-49M	-46M	-42M	-37M	-35M	-34M	-33M	-28M	-26M	-22M	-20M	-14M
Return on Common Dividends Paid	-289.23%	-271.12%	-255.13%	-245.68%	-201.63%	-187.51%	-185.19%	-261.85%	-290.69%	-271.04%	-309.09%	-287.54%	-317.02%	-170.88%	-267.38%	-308.47%	-180.79%	-239.25%	-199.86%	-169.84%	-185.65%	-223.65%	-121.63%	-433.06%	67.61%	-87.26%	-93.33%	-109.17%	-125.21%	-92.61%	-145.51%	-123.63%	-148.45%	-145.14%	-190.65%	-129.96%	-182.03%	-186.93%	-178.32%
Preferred Dividends Paid	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 Preferred Dividends Paid	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	313M	449M	279M	165M	149M	126M	120M	208M	505M	486M	431M	23M	544M	761M	298M	188M	149M	128M	-215M	-295M	28M	12M	-51M	-10M	192M	43M	22M	67M	171M	26M	61M	-49M	29M	115M	21M	47M	128M	161M	81M
Return on Other Financing Activities	207.65%	131.60%	81.08%	69.20%	72.84%	72.62%	74.21%	68.93%	30.03%	29.35%	36.47%	557.14%	25.42%	9.65%	35.37%	57.25%	36.98%	46.49%	-23.33%	-15.05%	147.78%	353.59%	-30.16%	-228.96%	-10.46%	101.26%	214.77%	79.60%	33.73%	147.57%	87.51%	-88.04%	170.42%	41.16%	254.81%	70.61%	30.96%	23.13%	31.33%
Net Cash from Financing Activities	197M	328M	112M	56M	31M	37M	68M	-154M	391M	-21M	416M	196M	439M	612M	-208M	204M	-44M	-537M	65M	79M	196M	117M	4M	-673M	35M	529M	-221M	-363M	-197M	87M	224M	-122M	162M	-52M	237M	391M	288M	215M	-17M
Return on Net Cash from Financing Activities	-188.52%	-104.41%	-57.93%	-8.46%	-12.07%	-10.79%	-11.98%	-92.98%	38.79%	-668.60%	37.73%	65.32%	31.49%	12.00%	-50.72%	52.66%	-125.68%	-11.10%	77.63%	56.26%	21.16%	35.81%	342.62%	-3.41%	-57.82%	8.14%	-20.96%	-14.57%	-29.35%	44.34%	23.83%	-35.71%	30.94%	-91.65%	22.34%	8.54%	13.73%	17.33%	-151.79%
Effect of FX on Cash	0M	0M	0M	0M	0M	0M	-1M	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	-18M
Return on Effect of FX on Cash	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,761.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53,000.00%	0.00%	0.00%	0.00%	-142.46%
Net Change in Cash	-87M	2M	6M	3M	3M	1M	-6M	-421M	245M	-14M	-7M	-241M	39M	235M	23M	-8M	-8M	46M	-5M	-3M	-26M	25M	9M	-20M	1M	-13M	6M	9M	7M	-3M	-6M	-17M	-4M	0M	4M	-15M	-12M	-105M	-66M
Return on Net Change in Cash	-1,089.60%	-576.22%	-522.44%	-445.82%	-338.10%	-22.80%	6.79%	-34.04%	61.80%	-1,049.56%	-2,166.09%	-53.16%	356.42%	31.29%	459.79%	-1,288.17%	-657.90%	128.91%	-985.90%	-1,532.33%	-162.40%	171.21%	177.19%	-116.63%	-2,020.54%	-344.31%	817.57%	588.12%	884.48%	-1,324.15%	-824.69%	-255.79%	-1,349.89%	9,946.53%	1,394.74%	-225.68%	-321.14%	-35.56%	-38.58%
Cash at Beginning of Period	232M	235M	164M	137M	125M	119M	116M	1,017M	983M	147M	154M	395M	357M	122M	99M	107M	116M	69M	75M	77M	103M	78M	70M	90M	88M	101M	95M	86M	80M	83M	89M	98M	102M	101M	98M	112M	125M	105M	66M
Return on Cash at Beginning of Period	77.08%	66.06%	73.77%	62.42%	56.96%	55.45%	52.53%	14.08%	15.42%	96.99%	101.83%	32.42%	38.77%	60.27%	106.45%	100.19%	47.69%	85.80%	67.27%	57.40%	40.28%	53.46%	21.86%	25.66%	-22.73%	42.75%	48.62%	61.48%	72.67%	46.85%	59.91%	44.36%	49.28%	46.61%	54.30%	29.72%	31.68%	35.56%	38.58%
Cash at End of Period	145M	237M	170M	140M	128M	120M	120M	596M	1,228M	133M	147M	154M	395M	357M	122M	99M	107M	116M	69M	75M	77M	103M	78M	70M	89M	88M	101M	95M	86M	80M	83M	81M	98M	102M	101M	98M	112M	247M	49M
Return on Cash at End of Period	98.94%	70.48%	72.26%	61.93%	56.20%	55.53%	52.56%	24.03%	12.34%	106.87%	106.85%	83.10%	34.97%	20.60%	86.44%	108.64%	51.42%	51.51%	72.20%	59.64%	53.57%	40.74%	19.46%	32.89%	-22.49%	48.81%	45.89%	55.66%	67.15%	48.56%	64.60%	53.66%	51.15%	46.39%	52.27%	34.22%	35.14%	15.08%	51.72%
Operating Cash Flow	144M	140M	120M	109M	99M	90M	83M	149M	160M	129M	151M	151M	165M	106M	108M	135M	88M	89M	73M	82M	86M	79M	84M	111M	57M	69M	70M	65M	77M	39M	57M	58M	46M	66M	53M	53M	49M	46M	37M
Return on Operating Cash Flow	99.65%	90.44%	82.77%	68.16%	63.67%	68.82%	70.50%	95.96%	94.74%	110.13%	104.18%	84.66%	83.77%	69.49%	97.86%	79.47%	62.47%	66.75%	68.92%	54.12%	48.38%	53.29%	18.16%	20.73%	-35.06%	62.64%	66.31%	81.77%	75.41%	98.54%	93.06%	75.64%	108.34%	71.44%	100.57%	63.14%	81.44%	80.52%	68.92%
Capital Expenditure	-16M	-13M	-12M	-11M	-11M	-10M	-10M	-4M	-15M	-16M	-22M	-11M	-11M	-8M	-17M	-10M	-12M	-7M	-5M	-11M	-10M	-10M	-8M	-5M	-7M	-12M	-10M	-13M	-14M	-12M	-5M	-6M	-8M	-8M	-8M	-8M	-6M	-8M	-4M
Return on Capital Expenditure	-924.56%	-1,007.54%	-906.11%	-730.83%	-614.48%	-622.38%	-614.57%	-3,795.36%	-1,025.03%	-917.10%	-712.82%	-1,143.76%	-1,299.53%	-964.50%	-606.06%	-1,119.89%	-475.93%	-795.49%	-1,026.05%	-404.85%	-430.53%	-412.04%	-183.58%	-470.28%	301.49%	-356.27%	-471.46%	-398.48%	-402.45%	-321.00%	-1,019.71%	-682.01%	-636.43%	-610.73%	-697.37%	-433.77%	-647.54%	-476.92%	-621.95%
Free Cash Flow	128M	127M	108M	98M	88M	79M	73M	146M	145M	114M	129M	140M	154M	98M	90M	126M	77M	82M	68M	71M	76M	69M	76M	106M	51M	57M	60M	51M	62M	27M	52M	51M	38M	58M	45M	45M	42M	38M	33M
Return on Free Cash Flow	112.86%	100.60%	92.35%	76.24%	72.64%	79.76%	81.76%	98.45%	104.39%	125.15%	122.01%	91.42%	89.54%	74.88%	116.71%	85.54%	71.91%	72.48%	73.89%	62.47%	54.51%	61.21%	20.15%	21.68%	-39.67%	76.01%	77.17%	102.89%	92.79%	142.20%	102.41%	85.08%	130.57%	80.90%	117.52%	73.89%	93.16%	96.88%	77.51%

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	143M	128M	102M	79M	68M	64M	60M	143M	152M	143M	157M	128M	138M	73M	105M	107M	55M	60M	50M	44M	41M	42M	15M	23M	-20M	43M	46M	53M	58M	39M	53M	44M	50M	47M	53M	34M	40M	37M	26M
EBITDA	185M	169M	141M	112M	95M	89M	85M	186M	195M	184M	202M	171M	184M	102M	141M	141M	113M	92M	79M	76M	68M	65M	24M	34M	-36M	60M	57M	71M	82M	52M	74M	60M	73M	69M	80M	54M	64M	60M	43M
Return on EBITDA	76.81%	75.52%	70.56%	68.10%	68.73%	69.24%	68.13%	76.85%	77.64%	77.48%	77.89%	75.08%	75.03%	72.11%	74.59%	76.34%	48.94%	64.53%	63.65%	58.52%	60.80%	65.02%	63.85%	67.73%	55.61%	71.67%	80.58%	75.04%	70.20%	74.55%	71.98%	72.79%	68.56%	68.46%	66.00%	62.85%	61.91%	62.21%	59.86%
(-) Tax Adjustment	37M	34M	33M	25M	22M	20M	20M	38M	40M	37M	41M	34M	37M	19M	28M	27M	53M	28M	23M	22M	18M	17M	-1M	0M	20M	8M	7M	10M	15M	5M	15M	10M	17M	16M	22M	14M	19M	18M	14M
Return on (-) Tax Adjustment	381.07%	381.32%	322.60%	532.38%	501.12%	490.12%	444.36%	380.45%	381.23%	387.46%	379.99%	375.76%	375.21%	388.18%	382.50%	401.03%	104.53%	214.51%	216.81%	205.65%	225.85%	251.12%	-2,502.76%	6,579.81%	-98.82%	537.31%	706.61%	515.15%	376.44%	851.87%	361.50%	428.33%	294.14%	294.81%	244.48%	237.99%	203.27%	205.05%	187.06%
(-) Change In Working Capital	-5M	-2M	-2M	1M	0M	-1M	-1M	-18M	17M	4M	-8M	-10M	16M	-13M	2M	-4M	0M	-1M	0M	2M	8M	13M	0M	5M	-33M	-2M	4M	3M	6M	-1M	2M	-2M	-12M	7M	1M	-3M	-6M	1M	1M
Return on (-) Change In Working Capital	253.73%	206.09%	340.73%	195.81%	216.06%	30.21%	285.55%	-778.80%	917.87%	3,873.19%	-1,859.61%	-1,252.38%	856.77%	-587.53%	6,379.95%	-2,619.35%	12,829.07%	-4,143.95%	-10,068.88%	2,224.87%	497.45%	333.34%	-3,967.27%	441.46%	61.44%	-2,364.82%	1,188.95%	1,578.83%	919.64%	-4,813.45%	2,975.99%	-2,002.12%	-406.82%	680.48%	3,785.71%	-1,000.00%	-669.49%	2,861.54%	2,833.33%
(-) Capital Expenditure	-16M	-13M	-12M	-11M	-11M	-10M	-10M	-4M	-15M	-16M	-22M	-11M	-11M	-8M	-17M	-10M	-12M	-7M	-5M	-11M	-10M	-10M	-8M	-5M	-7M	-12M	-10M	-13M	-14M	-12M	-5M	-6M	-8M	-8M	-8M	-8M	-6M	-8M	-4M
Return on (-) Capital Expenditure	-924.56%	-1,007.54%	-906.11%	-730.83%	-614.48%	-622.38%	-614.83%	-3,795.36%	-1,025.03%	-917.10%	-712.82%	-1,143.76%	-1,299.53%	-964.50%	-606.06%	-1,119.89%	-475.93%	-795.49%	-1,026.05%	-404.85%	-430.53%	-412.04%	-183.58%	-470.28%	301.49%	-356.27%	-471.46%	-398.48%	-402.45%	-321.00%	-1,019.71%	-682.01%	-636.43%	-610.73%	-697.37%	-441.56%	-647.54%	-476.92%	-621.95%
Unlevered Free Cash Flow	137M	124M	98M	75M	63M	60M	56M	163M	124M	128M	147M	136M	121M	88M	95M	109M	48M	59M	51M	41M	32M	25M	17M	23M	-30M	42M	37M	44M	46M	36M	52M	45M	61M	38M	50M	36M	44M	33M	24M
Return on Unlevered Free Cash Flow	104.31%	102.23%	103.63%	108.74%	108.54%	107.27%	106.48%	87.69%	122.06%	111.40%	107.04%	94.49%	114.61%	83.63%	111.29%	99.06%	115.10%	101.84%	97.81%	107.45%	130.10%	167.48%	92.04%	97.85%	66.04%	103.01%	124.49%	121.33%	124.73%	107.15%	101.94%	95.81%	82.83%	123.33%	106.81%	95.74%	89.43%	114.26%	106.39%
(-) Net Interest Income After Taxes	285M	259M	211M	194M	191M	177M	163M	324M	300M	301M	304M	249M	222M	218M	217M	204M	122M	137M	131M	131M	135M	140M	195M	205M	322M	161M	143M	143M	141M	153M	115M	127M	109M	105M	106M	99M	91M	88M	63M
Return on (-) Net Interest Income After Taxes	50.12%	49.25%	47.45%	39.21%	35.95%	36.64%	37.55%	44.29%	50.46%	47.29%	51.63%	51.45%	62.16%	33.71%	48.49%	52.64%	45.34%	43.44%	38.36%	33.83%	30.74%	29.96%	7.85%	11.23%	-6.22%	26.69%	32.35%	37.12%	40.99%	25.31%	46.37%	34.30%	46.18%	44.80%	50.10%	34.20%	43.59%	42.38%	40.19%
Net Debt Issuance	-53M	-55M	-113M	-66M	-80M	-53M	-16M	-286M	-57M	-442M	51M	233M	-30M	-86M	-460M	77M	-161M	-639M	330M	431M	224M	159M	67M	-746M	-128M	423M	-184M	-385M	-327M	93M	193M	-42M	164M	-133M	294M	369M	188M	80M	-83M
Return on Net Debt Issuance	109.96%	-42.73%	-12.60%	-3.42%	-4.09%	-4.86%	-1.91%	-50.02%	-267.99%	-32.25%	307.15%	54.97%	-457.70%	-85.83%	-22.90%	138.86%	-34.19%	-9.32%	15.20%	10.31%	18.54%	26.34%	22.64%	-3.08%	15.68%	10.19%	-25.08%	-13.76%	-17.67%	41.55%	27.55%	-103.89%	30.59%	-35.46%	18.03%	9.21%	21.06%	46.73%	-30.87%
Levered Free Cash Flow	-201M	-190M	-225M	-186M	-208M	-170M	-122M	-447M	-233M	-616M	-106M	120M	-132M	-216M	-583M	-18M	-235M	-718M	250M	341M	121M	44M	-111M	-927M	-481M	303M	-290M	-484M	-422M	-24M	131M	-123M	116M	-200M	238M	305M	141M	24M	-122M
Return on Levered Free Cash Flow	-21.25%	-40.51%	-82.04%	-46.31%	-35.84%	-34.22%	-22.08%	-32.08%	-65.12%	-23.16%	-147.67%	107.10%	-104.75%	-34.06%	-18.08%	-588.05%	-23.47%	-8.30%	20.03%	13.02%	34.38%	94.69%	-13.81%	-2.48%	4.17%	14.20%	-15.93%	-10.94%	-13.70%	-163.88%	40.74%	-35.28%	43.27%	-23.58%	22.28%	11.13%	27.98%	152.56%	-20.89%