Alaska Air Group, Inc. logo ALK - Alaska Air Group, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 22
HOLD 5
SELL 1
STRONG
SELL
0
| PRICE TARGET: $67.00 DETAILS
HIGH: $77.00
LOW: $54.00
MEDIAN: $70.00
CONSENSUS: $67.00
UPSIDE: 62.07%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Revenue
Revenue 3,300 3,632 3,766 3,704 3,137 3,534 3,072 2,897 2,232 2,553 2,839 2,838 2,196 2,479 2,828 2,658 1,681 1,899 1,953 1,527 797 808 701 421 1,636 2,228 2,389 2,288 1,876 2,064 2,212 2,156 1,832 1,942 2,120 2,102 1,749 1,524 1,566 1,494 1,347 1,377 1,515 1,437 1,269 1,306 1,465 1,375 1,222 1,210 1,557 1,256 1,133 1,132 1,272.2 1,213.2 1,039.3 1,044.3 1,198.1 1,110.2 965.2 958.5 1,067.5 976.4 829.9 846.1 967.4 843.9 742.4 827.1 1,065.2 930.8 839.5 847.1 995.1 904.4 759.4 790.3 935.7 873 735.4 730.6 845.7 756.5 642.5 652.9 773.8 698.7 598.4 613.3 609.1 527.3 574.1 462.2 579.3 516 532.4 602.3 552.8 492.5
Cost of Revenue 0 208 151 2,758 2,627 2,763 2,194 1,991 1,925 2,071 2,088 1,898 1,915 1,912 1,946 1,876 1,555 1,488 1,391 1,265 1,093 1,021 985 801 1,454 1,621 1,616 1,565 1,492 1,565 1,540 1,513 1,444 1,432 1,303 1,231 1,204 943 872 825 809 838 845 827 803 885 932 902 877 882 908 883 868 864 553.5 645.9 524.9 452.7 626.5 626 404.9 233.2 238.8 274.3 223.3 173.6 202.5 143.7 180 373.7 672.6 186.7 303 (872.5) 617.9 598.9 489.2 (599.4) 640.7 559.1 463.7 549.7 554.1 531.2 498 1,164 243.1 445.7 427.9 406.9 395.1 388.1 372.7 358.8 369.7 370.1 398.3 374 339.9 338.5
Gross Profit 3,300 3,424 3,615 946 510 771 878 906 307 482 751 940 281 567 882 782 126 411 562 262 (296) (213) (284) (380) 182 607 773 723 384 499 672 643 388 510 807 871 536 581 694 669 538 539 670 610 466 421 533 473 345 328 457 373 265 268 718.7 567.3 514.4 591.6 571.6 484.2 560.3 725.3 828.7 702.1 606.6 672.5 764.9 700.2 562.4 453.4 392.6 744.1 536.5 1,719.6 377.2 305.5 270.2 1,389.7 295 313.9 271.7 180.9 291.6 225.3 144.5 (511.1) 530.7 253 170.5 206.4 214 139.2 201.4 103.4 209.6 145.9 134.1 228.3 212.9 154
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 99 95 107 105 100 106 82 84 77 72 84 81 66 77 82 78 58 50 49 41 33 18 24 4 55 77 77 87 72 81 79 88 78 91 91 97 81 63 58 55 49 51 53 54 53 45 55 53 46 42 47 51 38 37 324.7 324.6 313.7 314.1 311.6 306.5 305.5 309 307.5 299.4 290.8 307.1 307.2 342.3 280.3 265.7 (55.3) 283.6 280.5 595.1 186.4 182.1 136.6 739.8 134.4 184.1 172.3 173.3 174.4 133.7 128.9 121.5 115.9 125.8 117.7 31 141.5 137.9 138.6 132.4 130.7 127.2 130 125.2 117.5 112.7
Other Expenses 3,480 3,254 3,360 564 607 592 455 500 396 378 456 522 401 467 738 517 270 322 255 (328) (168) 364 263 (96) 448 278 274 272 287 372 296 284 281 282 288 282 296 277 236 196 199 233 184 184 175 134 162 157 158 156 (60) 0 0 0 124.5 126.9 128.3 124.5 116.8 119.9 121 113.4 107.6 109.6 104 121.4 106.7 104.2 109.6 103.2 104.8 126.4 106.5 (1,746.2) 764.8 742.1 735.9 (1,905.5) 835.1 703.1 652.8 850.1 681.8 697.9 685.4 1,050.4 511.5 647.7 627 690.7 551.7 529.2 525.1 465.1 514.3 512.8 530.9 512.9 468.8 462.4
Operating Expenses 3,579 3,349 3,467 669 707 698 537 584 473 450 540 603 467 544 820 595 328 372 304 (287) (135) 382 287 (92) 503 355 351 359 359 453 375 372 359 373 380 384 379 340 294 251 248 284 237 238 228 179 217 210 204 198 (13) 199 199 191 449.2 451.5 442 438.6 428.4 426.4 426.5 422.4 424.9 405.6 394.8 428.5 413.9 446.5 389.9 368.9 1,084.5 410 387 (1,151.1) 951.2 924.2 872.5 (1,165.7) 969.5 887.2 825.1 1,023.4 856.2 831.6 814.3 1,171.9 627.4 773.5 744.7 721.7 693.2 667.1 663.7 597.5 645 640 660.9 638.1 586.3 575.1
Operating Income
Operating Income (279) 75 148 277 (197) 73 341 322 (166) 32 211 337 (186) 23 62 187 (202) 39 258 549 (161) (595) (571) (288) (321) 252 422 364 25 46 297 271 29 137 427 487 157 241 400 418 290 255 433 372 238 242 316 263 141 130 470 175 76 83 269.5 115.8 72.4 114.1 143.2 57.8 133.8 119.3 216.4 109.9 26 52.8 159.8 66.7 (11.9) (106.7) (120) 106.5 (49.7) 9.1 143.3 77.7 (18.1) (18.2) (24) 80.1 (125.2) (25.8) 90.2 9.1 (80.9) (65.9) 65.2 (20.6) (58.5) (15.3) 4 (54.6) (6.8) (96.4) 11.3 (49.5) (54.3) 37.2 13.1 (13.8)
Interest Expense 76 70 62 57 54 46 37 30 29 31 27 21 21 18 28 23 25 25 27 36 29 31 30 16 10 14 14 17 18 16 17 21 19 22 21 22 21 18 5 2 5 1 1 3 3 6 7 8 7 8 7 9 11 10 10.7 17.2 16.6 18.2 25.7 18.4 21.6 26.9 29.5 26.3 23.9 21.1 25.9 25.1 24 23.3 25.9 25 16.9 0 15.7 22.5 13.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 19 23 23 22 26 32 28 24 17 18 23 22 17 18 17 11 7 6 6 6 7 8 7 7 9 11 11 11 9 9 11 10 8 9 9 9 7 7 7 7 6 5 5 6 5 6 5 5 5 4 5 4 4 5 4.5 8.6 9.4 10.5 6.6 6.3 7.6 8.2 9 9.2 7.5 8.2 9.7 9.6 8.3 10.9 10.7 16.6 10.3 0 13.8 14.8 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA (94) 301 376 533 84 303 550 592 (19) 160 445 633 (3) 240 584 491 (118) 164 356 78 (460) (349) (422) (487) (48) 350 526 469 145 245 422 384 140 250 540 603 296 400 526 514 376 372 519 445 314 282 395 323 203 196 325 242 145 152 342 188 142 181.6 211.1 128.7 204.4 188.9 285.5 178.3 92 120 224.3 124.9 48.2 (45) (60.9) 168.6 7.8 2,212.4 197.1 141.3 (1.7) 1,858.4 16.5 116.8 (88.3) (804.9) 189.4 32.3 61.5 (188.2) 81.4 8.8 (23.2) (163.9) 51.3 (28.9) 26.6 (431.2) 35.3 (34.7) (124.1) 57.2 (274.6) 19
EBIT (298) 102 173 334 (110) 160 411 464 (145) 64 332 520 (107) 135 480 387 (220) 64 257 (20) (557) (449) (527) (594) (156) 244 420 364 39 137 323 287 46 153 445 513 206 318 425 422 288 288 438 366 238 206 320 250 133 129 258 175 76 83 276 123 78 118.9 148.9 67 144.1 130.4 227.7 120.3 35.8 63.1 168.7 71 (4.6) (96.7) (113) 117.1 (41.5) 2,167.3 150.5 97.5 (3.9) 1,815 (24) 80.1 (125.2) (842.5) 153.1 (547.1) 27.3 (1,683) (469.5) (539.3) (574.7) (515.3) 0.6 (527.9) 31.5 (494.1) 3.1 (494.1) (526.8) (409.8) (373.4) (4)
Income Before Tax (317) 30 111 238 (233) 79 328 316 (178) 4 193 325 (199) 35 65 185 (206) 29 245 528 (173) (643) (589) (291) (317) 243 416 351 6 36 284 259 6 126 417 474 142 231 402 420 292 259 437 376 240 242 316 265 152 125 463 169 59 72 265.6 109.1 66.6 100.7 125.3 47 120.7 103.5 198.2 94 10.2 42 142.8 47.7 (29.6) (120) (133) 98.2 (56.1) 3.3 141.1 75 (17.8) (16.6) (22.9) 81.1 (129.4) (56.3) 146.8 29.7 17 (81.3) 127.6 (0.7) (66.2) (24.1) 72.8 (58.7) (6.5) (52.7) 8.2 (51.3) (53.7) 38.6 14.8 (12.6)
Income Tax Expense (124) 9 38 66 (67) 8 92 96 (46) 6 54 85 (57) 13 25 46 (63) 11 51 131 (42) (196) (158) (77) (85) 62 94 89 2 13 67 66 2 189 158 181 49 117 146 160 108 68 163 142 91 94 118 100 58 47 174 65 22 28 102.2 41.6 25.8 36.7 47.8 18.2 46.5 38.7 75.8 35.4 4.9 17.9 55.2 18.6 (10.4) (44.8) (46.5) 35.1 (20.2) (0.1) 55.3 28.9 (7.5) 65.4 (5.5) 25.6 (50.3) (23.3) 56.6 12.3 7.1 (31.2) 48.4 1 (23.5) (8) 27.6 (19.5) (2) (16.3) 3.5 (18.2) (24.8) 22.7 6 (5.1)
Net Income (193) 21 73 172 (166) 71 236 220 (132) (2) 139 240 (142) 22 40 139 (143) 18 194 397 (131) (447) (431) (214) (232) 181 322 262 4 23 217 193 4 315 259 293 93 114 256 260 184 191 274 234 149 148 198 165 94 78 289 104 37 44 163 68 41 64 77.5 28.8 74.2 64.8 122.4 58.6 5.3 24.1 87.6 29.1 (19.2) (75.2) (86.5) 63.1 (35.9) 3.4 81.8 46.1 (10.3) (11.6) (17.4) 55.5 (79.1) (33) 90.2 17.4 (80.5) (50.1) 74 (1.7) (42.7) (16.1) 45.2 (90.6) (4.5) (36.4) 4.7 (33.1) (28.9) 15.9 8.8 (7.5)
Per Share Data
EPS (Basic) -1.69 0.18 0.63 1.45 -1.35 0.56 1.87 1.74 -1.05 -0.02 1.09 1.88 -1.11 0.17 0.32 1.10 -1.14 0.14 1.55 3.18 -1.05 -3.47 -3.49 -1.74 -1.89 1.47 2.61 2.12 0.03 0.19 1.76 1.57 0.03 2.56 2.10 2.37 0.75 0.92 2.08 2.11 1.47 1.52 2.15 1.80 1.13 1.12 1.47 1.20 0.69 0.56 2.07 0.75 0.26 0.31 1.15 0.48 0.28 0.45 0.54 0.20 0.52 0.45 0.85 0.41 0.04 0.17 0.62 0.20 -0.13 -0.52 -0.60 0.44 -0.24 0.02 0.51 0.28 -0.06 -0.07 -0.11 0.37 -0.59 -0.25 0.82 0.16 -0.74 -0.46 0.69 -0.02 -0.40 -0.15 0.43 -0.85 -0.04 -0.34 0.04 -0.31 -0.27 0.15 0.08 -0.07
EPS (Diluted) -1.69 0.18 0.62 1.42 -1.35 0.55 1.84 1.71 -1.05 -0.02 1.08 1.86 -1.11 0.17 0.31 1.09 -1.14 0.14 1.53 3.13 -1.05 -3.47 -3.49 -1.74 -1.89 1.46 2.60 2.11 0.03 0.19 1.75 1.56 0.03 2.55 2.09 2.36 0.75 0.92 2.07 2.10 1.46 1.51 2.14 1.79 1.12 1.11 1.45 1.19 0.68 0.56 2.04 0.74 0.26 0.31 1.14 0.47 0.28 0.44 0.53 0.20 0.51 0.44 0.83 0.40 0.04 0.17 0.62 0.20 -0.13 -0.52 -0.60 0.44 -0.24 0.02 0.50 0.28 -0.06 -0.07 -0.11 0.35 -0.59 -0.25 0.68 0.14 -0.61 -0.38 0.57 -0.02 -0.40 -0.15 0.42 -0.85 -0.04 -0.34 0.04 -0.31 -0.27 0.15 0.08 -0.07
Shares Outstanding 114.3 115.5 119.1 121.0 123.1 126.1 126.2 126.3 126.0 127.4 127.2 127.4 127.5 127.3 126.8 126.5 125.4 125.7 125.2 125.0 124.3 124.0 123.5 123.0 122.8 123.1 123.3 123.4 123.3 123.3 123.2 123.3 123.2 123.1 123.5 123.6 123.5 123.3 123.1 123.2 124.5 125.9 127.3 129.2 131.1 132.4 134.9 137.3 137.3 138.7 139.6 140.5 140.9 142.2 141.9 142.0 142.4 142.4 143.9 143.9 144.0 144.0 143.6 142.8 142.7 142.7 141.1 145.4 145.3 144.9 144.3 144.2 148.1 148.1 161.9 161.8 161.5 161.0 159.8 152.1 133.9 133.9 110.0 108.8 108.6 108.6 107.4 107.3 107.1 106.9 106.5 106.2 106.2 106.1 105.9 105.9 105.8 105.8 105.8 105.7
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2010 Q2 2010 Q1 2009 Q4 2009 Q2 2009 Q1 2007 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2001 Q3 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1 1995 Q4 1995 Q3 1995 Q2 1995 Q1 1994 Q4 1994 Q3 1994 Q2 1994 Q1 1993 Q4 1993 Q3 1993 Q2 1993 Q1
Current Assets
Cash & Cash Equivalents 451 627 806 778 1,044 1,201 1,015 1,115 885 281 647 536 516 338 688 778 652 470 495 1,025 1,076 1,370 1,855 1,509 811 221 237 244 215 105 174 102 177 194 144 198 183 328 1,818 81 78 1,273 1,171 164.2 163.3 237.1 80.3 206.1 164.9 192.9 114.6 205.8 269 308.2 30.7 35.7 84.9 101.1 137.5 119.9 125.6 132.5 76.8 67.8 61.1 29.4 192.4 152.7 77.7 102.6 98.7 82.3 18.3 49.4 51.9 53 64.6 25.8 58.1 128.6 4.2 11.6 30.8 48.7 27.6 27.2 11.7 14.4 8.7
Short-Term Investments 1,317 1,496 1,494 1,374 1,420 1,274 1,490 1,394 1,393 1,510 1,804 1,906 1,913 2,079 2,462 2,647 2,262 2,646 2,700 2,926 2,473 1,976 1,904 1,294 1,314 1,300 1,382 1,383 1,221 1,131 1,223 1,466 1,351 1,427 1,596 1,724 1,527 1,252 1,408 1,526 1,486 0 0 1,027.9 958.5 805.9 807.7 659.1 665 619.4 606.9 409.8 366.8 354.4 636.6 334.9 306.7 360.6 245.9 159.7 147.4 196.5 170.1 253.5 228.3 277.2 214.9 197.4 173.4 110.1 93.3 46.3 59.9 52.4 79.4 52.1 74.3 109.3 85.4 102.1 61.3 93.3 121.4 78.1 69.6 0 0 0 0
Net Receivables 630 565 586 737 569 558 510 370 384 383 341 351 340 296 345 401 658 546 536 567 517 480 321 280 279 323 377 389 358 366 422 411 350 341 301 326 321 302 232 254 235 145.2 137.3 111.8 156.5 113.5 156.8 121.1 143 120.7 141.3 134.8 125.4 85.4 88.2 120.1 101.6 86.8 99.5 104.8 99.4 74.6 90.5 99.8 90.8 70.6 90.7 94.2 86 72.6 88.1 93.6 82.7 69.7 77.8 89.2 115.1 88.5 105.5 89.8 77.4 70.1 79.9 83.3 77.3 75.3 78.2 77.2 89.4
Inventory 232 203 0 218 206 199 202 106 104 116 122 107 105 104 94 93 78 62 62 52 57 57 57 56 68 72 63 55 58 60 57 57 62 57 57 52 50 47 44 45 45 48.5 49.1 45.8 43.6 43.4 51.8 46.5 47.2 45.8 70.1 67.8 71.9 71.4 76.7 71.7 67.9 63.7 61.3 59.7 57.7 54.3 54.7 50.1 45.6 44.1 48.2 44 46.4 47.2 46 47.3 48.3 47.8 46.3 46 45.7 44.8 44.3 42.9 41.1 40.2 41.9 41.3 42.2 41.3 42.8 43.1 42.6
Other Current Assets 106 97 580 136 201 221 250 212 186 239 543 157 44 60 221 313 324 196 0 0 0 123 0 0 0 121 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 169.1 191.9 186.5 197.6 183.7 262 94.2 95.1 90.6 74.7 74 61.2 0 0 0 0 (92.6) 0 0 0 0 103.3 104.4 116.1 0 88.8 95.3 97.5 0 62.8 71.3 69.4 0 69.6 83.4 55.1 0 60.2 54.9 54.1 0 53.1 51.7 39.3 130.4 126 122.1 89.5
Total Current Assets 3,017 3,266 3,466 3,507 3,721 3,760 3,737 3,376 3,129 2,705 3,644 3,244 3,099 3,040 3,810 4,232 3,974 3,920 4,001 4,771 4,284 4,006 4,465 3,244 2,572 2,037 2,202 2,218 2,001 1,787 2,056 2,216 2,114 2,152 2,214 2,425 2,213 2,050 3,600 2,003 1,923 1,739 1,664 1,634.3 1,594 1,465.9 1,468.3 1,253.1 1,232.3 1,148.3 1,093.7 990.3 976.3 956.1 1,006.5 749.4 747.4 805.7 699.3 605.9 597 581.9 495.4 575.6 541.9 528.8 635 583.6 481 424.6 388.9 340.8 278.6 300.2 325 323.7 354.8 338.4 353.5 418.3 238.1 272.6 327.1 303.1 256 274.2 258.7 256.8 230.2
Non-Current Assets
Property, Plant & Equipment 12,015 11,857 0 12,494 12,180 11,197 11,868 9,663 9,368 9,583 9,197 9,281 8,786 8,728 8,259 8,140 7,783 7,591 7,490 7,503 7,567 7,611 7,897 8,363 8,438 8,613 8,481 8,440 8,344 6,781 6,495 6,493 6,403 6,284 6,230 6,002 5,809 5,686 5,031 4,959 4,830 3,164 3,136 3,167.9 3,154 3,127.2 2,833.7 1,919.4 1,976.6 1,949.2 1,931.7 1,839.3 1,779.4 1,772.9 1,866.2 1,868.2 1,774.4 1,730.2 1,670.7 1,600.7 1,536 1,467.4 1,350.8 1,218.4 1,130.3 1,061.3 988.8 959 974.7 960.6 914.7 908.7 878.9 863.4 856.8 849.9 756 814 835.6 844.8 862.9 859.3 773.1 777.9 761.9 690.6 740.2 755.4 782.7
Goodwill 2,723 2,723 2,723 2,724 2,724 2,721 2,703 2,033 0 2,033 2,034 2,036 2,037 2,038 2,040 2,041 0 2,044 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,943 1,934 1,940 1,942 1,917 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 51.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 801 815 829 844 859 873 888 0 2,033 0 0 0 0 0 0 0 2,042 0 102 103 105 107 107 109 110 122 123 125 127 127 128 130 132 133 135 137 139 155 0 0 0 0 0 0 0 0 0 45.6 45.6 45.6 50.9 50.9 50.9 0 51.9 52.4 52.9 53.4 53.9 54.5 55 55.5 56 56.5 57 57.5 58 58.5 59 59.6 60.1 60.6 61.1 61.6 62.1 62.6 63.1 63.6 64.1 64.7 65.2 65.7 66.2 66.7 67.2 67.7 68.2 68.7 69.2
Long-Term Investments 0 0 0 0 0 0 0 0 0 30 27 0 0 49 0 0 0 34 0 0 0 20 0 0 0 16 (708) (582) (520) (512) (494) (437) (372) (1,776) 307 307 308 304 0 0 0 0 0 0 0 0 0 (182.4) (178.3) (192) (165) (138.2) (157.2) (172.1) (155.6) (155.6) (137.4) 0 (117.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 1,742 1,700 12,994 316 334 1,217 363 270 283 262 263 268 374 331 422 387 411 362 346 336 363 359 337 339 300 262 234 225 225 274 271 273 256 2,310 226 216 199 169 (665) (648) (602) 204 64.9 182.8 146.9 185.9 29.3 143.9 144.8 116.1 108.1 111.6 74.1 164.8 58.1 36.7 36.5 40.7 37.9 36.6 35.6 75.3 75 78.2 79.5 84.2 84.1 85.8 87.6 88.3 87 90.2 90.1 86.2 88 88.6 89.1 97.4 99.2 128.5 121.6 118.1 115.8 113.6 106.5 102.5 100.5 101 101.9
Total Non-Current Assets 17,281 17,095 16,546 16,378 16,097 16,008 15,822 11,966 11,684 13,129 11,521 11,585 11,197 12,306 10,721 10,568 10,236 11,044 9,881 9,885 9,978 11,222 10,284 10,754 10,791 11,964 10,781 10,733 10,639 9,125 8,837 8,839 8,734 8,594 8,525 8,295 8,089 7,927 5,099 5,032 4,906 3,368 3,352 3,350.7 3,347 3,313.1 2,988.6 2,108.9 2,167 2,110.9 2,090.7 2,001.8 1,904.4 1,989.1 1,976.2 1,957.3 1,863.8 1,824.3 1,762.5 1,691.8 1,626.6 1,598.2 1,481.8 1,353.1 1,266.8 1,203 1,130.9 1,103.3 1,121.3 1,108.5 1,061.8 1,059.5 1,030.1 1,011.2 1,006.9 1,001.1 908.2 975 998.9 1,038 1,049.7 1,043.1 955.1 958.2 935.6 860.8 908.9 925.1 953.8
Total Assets 20,298 20,361 20,012 19,885 19,818 19,768 19,559 15,342 14,813 15,834 15,165 14,829 14,296 15,346 14,531 14,800 14,210 14,964 13,882 14,656 14,262 15,228 14,749 13,998 13,363 14,001 12,983 12,951 12,640 10,912 10,893 11,055 10,848 10,746 10,739 10,720 10,302 9,977 8,699 7,035 6,829 5,107 5,016 4,985 4,941 4,779 4,456.9 3,362 3,399.3 3,259.2 3,184.4 2,992.1 2,880.7 2,945.2 2,982.7 2,706.7 2,611.2 2,630 2,461.8 2,297.7 2,223.6 2,180.1 1,977.2 1,928.7 1,808.7 1,731.8 1,765.9 1,686.9 1,602.3 1,533.1 1,450.7 1,400.3 1,308.7 1,311.4 1,331.9 1,324.8 1,263 1,313.4 1,352.4 1,456.3 1,287.8 1,315.8 1,282.2 1,261.3 1,191.6 1,135 1,167.6 1,181.9 1,184
Current Liabilities
Account Payables 409 324 322 240 237 186 242 203 181 207 229 212 206 221 202 286 299 200 181 159 133 108 93 102 119 146 120 156 157 132 114 115 102 120 97 95 95 92 71 78 63 58 53.3 63.3 52.5 63.8 88.8 139.4 125.4 132.9 124.3 139.5 132.1 132.2 129.8 131.6 142.5 147.6 133 115 112.4 104.2 100.4 96 86.4 84.3 83.7 82.3 81.4 73.9 83 74 72.2 65.4 68.3 66.5 58.5 69.2 64.4 55.4 55.9 48.6 53 49.3 47.3 45.6 42.3 43.1 47.6
Short-Term Debt 498 721 519 500 519 442 515 359 301 511 886 849 481 504 584 616 564 634 425 869 1,246 1,428 1,150 1,087 1,059 504 533 561 575 486 345 314 387 307 334 337 332 319 275 117 116 154.3 158.2 156 588.8 564 207.1 91.1 201.8 206.7 62 39.9 48.6 46.2 37.8 38.6 33.9 66.7 95.8 94.9 97 66.5 27.1 27 27.4 27.2 27.6 31.5 29.2 28.7 28.8 56.6 52.6 71.1 28.8 30.4 37.3 105.6 70.1 72.1 76.1 97.0 42.4 41.5 39.9 55.6 30.7 77.6 68.4
Deferred Revenue 4,159 1,722 1,837 1,824 3,931 3,304 1,614 2,888 2,917 2,357 2,592 2,781 2,831 2,303 2,535 2,790 2,681 2,075 2,129 2,455 2,115 1,806 1,734 1,686 1,588 1,650 1,032 1,173 1,116 788 950 1,112 1,122 1,441 1,103 1,255 1,218 849 785 870 868 699.7 438.1 672.7 454.3 652.1 391.3 281.1 276.3 252.4 235.5 233.1 232 222.3 135.8 135.8 135.1 223.1 120.1 220.3 264.9 264.3 0 0 0 156.4 0 0 0 134.2 0 0 0 134.8 0 0 0 99.8 0 0 0 103.4 0 0 0 0 0 0 0
Other Current Liabilities 0 2,744 2,945 3,223 0 0 2,836 852 791 800 806 871 908 846 805 794 659 625 0 0 0 424 0 361 0 431 1,240 1,405 1,321 1,493 0 0 0 0 0 0 0 0 0 0 0 529.3 469.4 355.1 3.7 5.7 406 341.6 402.8 237.7 381.9 347.9 299 320.9 239 366.6 341.8 273.4 237 330.5 252.7 266.7 473.1 502.9 453.8 178.6 463 444.6 408.8 236.5 396 395.2 372.3 214.5 341.9 356.6 321.3 170.2 308.2 331.2 294.3 170.8 284 298.6 253.2 234.3 250.6 267.6 226.9
Total Current Liabilities 7,056 6,589 6,659 6,709 6,700 6,145 6,248 4,968 4,829 4,459 5,074 5,176 4,857 4,493 4,709 4,902 4,570 3,991 4,024 4,846 4,762 4,293 4,207 4,120 3,730 3,201 3,346 3,534 3,386 2,942 2,888 3,036 2,992 2,686 2,765 2,974 2,835 2,537 2,123 2,061 2,069 1,441 1,340 1,258.3 1,340 1,285.6 1,299.6 1,033.1 1,089.2 1,017.4 893.6 831.8 777.9 756.5 748.8 767.5 741.1 710.8 781.2 760.7 727 618.7 600.6 625.9 567.6 525.9 574.3 558.4 519.4 473.3 507.8 525.8 497.1 485.8 439 453.5 417.1 444.8 442.7 458.7 426.3 419.7 379.4 389.4 340.4 335.5 323.6 388.3 342.9
Non-Current Liabilities
Long-Term Debt 4,822 4,834 4,490 4,448 4,290 4,491 4,159 2,313 2,264 2,182 2,128 1,889 1,795 1,883 1,889 1,961 2,078 2,173 2,225 2,319 2,325 2,357 2,672 1,549 1,203 1,264 1,444 1,538 1,664 1,617 1,684 1,998 2,062 2,262 2,367 2,469 2,531 2,645 1,861 509 531 1,570 1,657 1,699.2 1,670 1,619.3 1,151.8 1,002.9 993.8 906.9 1,016.2 979 856.7 843.7 869.4 656 611.3 609.2 406.5 294 300.1 337 153.9 160.3 165 171.5 181.1 183.3 334.7 401.4 411.6 418.5 397.3 404.1 452.9 483.7 505.2 522.4 560.6 699.6 579.2 589.9 587.7 596.6 593.4 525.4 537.2 498.4 482.1
Deferred Tax Liabilities 879 1,004 976 938 871 934 889 746 649 1,916 662 606 523 1,734 571 552 509 1,591 501 439 365 1,589 499 619 665 1,723 708 582 520 512 494 437 372 370 682 598 509 463 733 721 678 207.8 170.1 151.1 46.1 37.2 125.6 182.4 178.3 192 165 138.2 157.2 171.6 170.7 141 137.4 155.6 117.5 105.9 136.8 144 153.5 132.9 111.5 99.2 107.4 96.3 78.6 72.3 84.1 60.5 44.7 49.5 64.4 48.1 34.3 41 45.7 22.8 17 28.6 35.9 23.7 15.8 21 22.7 16.7 17.9
Other Non-Current Liabilities 974 964 1,025 1,000 988 917 957 710 676 657 729 689 652 653 641 652 665 683 949 1,082 1,145 1,189 1,077 954 830 803 680 719 723 921 898 881 881 878 752 763 772 748 627 1,838 1,774 541.1 544.8 566.2 742.6 754.9 461.2 227 220.5 216.3 230.8 210 201.2 159.1 175.9 165.5 156.7 156.3 145.6 140.9 99.1 112.3 155.9 152 149.8 104.2 141.3 132.8 116.5 91.3 111.1 105.4 100.7 81.4 97.9 94.8 96 72.7 90.6 92 90 63.2 83.5 80.5 81.1 86.3 97.3 101.2 98.5
Total Non-Current Liabilities 9,511 9,654 9,324 9,234 8,981 9,251 8,832 6,148 6,007 7,262 5,998 5,702 5,750 7,037 5,996 6,099 6,003 7,172 6,327 6,486 6,625 7,947 7,088 6,017 5,618 6,469 5,385 5,444 5,508 4,219 4,214 4,426 4,417 4,600 4,483 4,482 4,453 4,509 3,712 2,347 2,305 2,726 2,791 2,854.6 2,913 2,836.1 2,129.9 1,693.4 1,668.9 1,567.6 1,647.5 1,560.3 1,447.1 1,352.3 1,373.4 1,104.7 1,040.5 1,056.9 789.7 662.2 572.4 630.7 463.3 445.2 426.3 416.4 429.8 412.4 529.8 584.5 606.8 584.4 542.7 553.1 615.2 626.6 635.5 656.1 696.9 814.4 686.2 704.7 707.1 700.8 690.3 632.7 657.2 616.3 598.5
Total Liabilities 16,567 16,243 15,983 15,943 15,681 15,396 15,080 11,116 10,836 11,721 11,072 10,878 10,607 11,530 10,705 11,001 10,573 11,163 10,351 11,332 11,387 12,240 11,295 10,137 9,348 9,670 8,731 8,978 8,894 7,161 7,102 7,462 7,409 7,286 7,248 7,456 7,288 7,046 5,835 4,408 4,374 4,167 4,131 4,112.9 4,253 4,121.7 3,429.5 2,726.5 2,758.1 2,585 2,541.1 2,392.1 2,225 2,108.8 2,122.2 1,872.2 1,781.6 1,767.7 1,570.9 1,422.9 1,299.4 1,249.4 1,063.9 1,071.1 993.9 942.3 1,004.1 970.8 1,049.2 1,057.8 1,114.6 1,110.2 1,039.8 1,038.9 1,054.2 1,080.1 1,052.6 1,100.9 1,139.6 1,273.1 1,112.5 1,124.5 1,086.5 1,090.2 1,030.7 968.2 980.8 1,004.6 941.4
Stockholders' Equity
Common Stock 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 36.5 36.2 35.8 43.3 43.3 42.7 29.6 29.5 29.5 29.4 29.3 29.3 29.3 29.3 29.2 29.2 29.2 29.2 29.2 29.2 29.2 29.1 29.1 29.1 29 29 29 23.1 21 17.5 17.3 17.3 17.2 17.2 17.2 17 16.7 16.7 16.6 16.6 16.6 16.5 16.5 16.5 0 0 0 0
Retained Earnings 4,837 5,030 5,009 4,936 4,764 4,930 4,859 4,623 4,403 4,535 4,537 4,398 4,158 4,300 4,278 4,238 4,099 4,242 4,224 4,030 3,633 3,764 4,211 4,642 4,856 5,133 4,996 4,717 4,498 4,534 4,550 4,373 4,219 4,193 4,117 3,888 3,629 3,568 3,488 3,266 3,039 378.9 320.3 315 203.3 174.2 328.5 254.9 256.6 299.3 274.7 229.5 285.8 375.9 411.4 386.1 381.4 414.5 443.4 427.5 477.3 484.8 467.8 412.9 370.8 350.6 323.6 278.2 239.3 226.2 211.1 168.8 148.1 153.8 159.4 126.6 108.6 115.8 116.5 89.2 82.1 98.5 103.6 79.3 69.6 75.9 96.3 88.2 93.7
Accumulated Other Comprehensive Income (176) (173) (223) (228) (234) (239) (268) (287) (294) (299) (360) (365) (365) (388) (328) (308) (292) (262) (482) (487) (494) (494) (450) (458) (482) (465) (421) (422) (433) (448) (428) (435) (440) (380) (289) (294) (299) (305) (284) (287) (294) (239.7) (237) (240) (309.9) (320.9) (181.6) (74.9) (70) (79) (82.7) (80.2) (80.2) 10.8 (669.3) (639.8) (620.7) (597.2) (574.1) (549.9) (540.1) (518.5) (468.5) (450) (432.3) (1.3) (416.5) (402.5) (388.9) (1.8) (360.4) (347.6) (339.2) (2.7) (333.1) (334.5) (325.3) (3.6) (300.1) (285.9) (273.5) (4.7) (256.5) (256.6) (249.1) (266.2) (267.3) (259.1) (255.4)
Total Stockholders' Equity 3,731 4,118 4,029 3,942 4,137 4,372 4,479 4,226 3,977 4,113 4,093 3,951 3,689 3,816 3,826 3,799 3,637 3,801 3,531 3,324 2,875 2,988 3,454 3,861 4,015 4,331 4,252 3,973 3,746 3,751 3,791 3,593 3,439 3,460 3,491 3,264 3,014 2,931 2,864 2,627 2,455 940 885 872.1 688 657.3 1,027.4 635.5 641.2 674.2 643.3 600 655.7 836.4 860.5 834.5 829.6 862.3 890.9 874.8 924.2 930.7 913.3 857.6 814.8 789.5 761.8 716.1 553.1 475.3 336.1 290.1 268.9 272.5 277.7 244.7 210.4 212.5 212.8 183.2 175.3 191.3 195.7 171.1 160.9 166.8 186.8 177.3 242.6
Total Liabilities & Equity 20,298 20,361 20,012 19,885 19,818 19,768 19,559 15,342 14,813 15,834 15,165 14,829 14,296 15,346 14,531 14,800 14,210 14,964 13,882 14,656 14,262 15,228 14,749 13,998 13,363 14,001 12,983 12,951 12,640 10,912 10,893 11,055 10,848 10,746 10,739 10,720 10,302 9,977 8,699 7,035 6,829 5,107 5,016 4,985 4,941 4,779 4,456.9 3,362 3,399.3 3,259.2 3,184.4 2,992.1 2,880.7 2,945.2 2,982.7 2,706.7 2,611.2 2,630 2,461.8 2,297.7 2,223.6 2,180.1 1,977.2 1,928.7 1,808.7 1,731.8 1,765.9 1,686.9 1,602.3 1,533.1 1,450.7 1,400.3 1,308.7 1,311.4 1,331.9 1,324.8 1,263 1,313.4 1,352.4 1,456.3 1,287.8 1,315.8 1,282.2 1,261.3 1,191.6 1,135 1,167.6 1,181.9 1,184
Debt Metrics
Total Debt 6,668 6,893 6,471 6,373 6,276 6,393 6,142 3,875 3,821 3,818 4,127 3,886 3,731 3,780 3,955 4,082 3,999 4,086 4,116 4,673 5,125 5,053 5,425 4,285 3,903 3,207 3,353 3,523 3,682 2,103 2,029 2,312 2,449 2,262 2,701 2,806 2,863 2,955 2,136 626 647 1,570 1,657 1,855.2 1,670 2,183.3 1,358.9 1,094 1,195.6 1,113.6 1,078.2 1,018.9 905.3 889.9 907.2 694.6 645.2 675.9 502.3 388.9 397.1 403.5 181 187.3 192.4 198.7 208.7 214.8 363.9 430.1 440.4 475.1 449.9 475.2 481.7 514.1 542.5 628 630.7 771.7 655.3 686.9 630.1 638.1 633.3 581 567.9 576 550.5
Net Debt 6,217 6,266 5,665 5,595 5,232 5,192 5,127 2,760 2,936 3,537 3,480 3,350 3,215 3,442 3,267 3,304 3,347 3,616 3,621 3,648 4,049 3,683 3,570 2,776 3,092 2,986 3,116 3,279 3,467 1,998 1,855 2,210 2,272 2,068 2,557 2,608 2,680 2,627 318 545 569 297 486 1,691 1,506.7 1,946.2 1,278.6 887.9 1,030.7 920.7 963.6 813.1 636.3 581.7 876.5 658.9 560.3 574.8 364.8 269 271.5 271 104.2 119.5 131.3 169.3 16.3 62.1 286.2 327.5 341.7 392.8 431.6 425.8 429.8 461.1 477.9 602.2 572.6 643.1 651.1 675.3 599.3 589.4 605.7 553.8 556.2 561.6 541.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2005 Q3 2005 Q2 2005 Q1 2004 Q2 2004 Q1 2003 Q4 2003 Q3 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2002 Q2 2002 Q1 2001 Q4 2001 Q3 2001 Q2 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1 1995 Q4 1995 Q3 1995 Q2 1995 Q1 1994 Q4 1994 Q3 1994 Q2 1994 Q1 1993 Q4 1993 Q3 1993 Q2 1993 Q1
Operating Activities
Net Income (193) 21 73 172 (166) 71 236 220 (132) (2) 139 240 (142) 22 40 139 (143) 18 194 397 (131) (447) (431) (214) (232) 181 322 262 4 23 217 193 4 373 266 296 99 114 256 260 184 88.8 39.5 (80.5) (1.7) (42.7) (16.3) 40.8 45.3 (56.3) (43.1) 12.5 (53.6) (34.4) (40.3) 25.3 4.7 (28.9) 15.9 7.1 (7.5) 17 54.9 42.1 20.2 27 45.4 38.9 13.1 15.1 42.2 20.8 (5.7) (5.6) 32.8 18 (7.2) (0.7) 27.3 7 (16.3) (5.1) 24.2 9.7 (6.3) (20.3) 8 (3.6) (15)
Depreciation & Amortization 204 199 203 199 194 190 139 128 126 121 113 113 104 105 104 104 102 100 99 98 97 100 105 107 108 106 106 105 106 108 99 97 94 97 95 90 90 82 101 92 88 36.3 35.3 34.2 50.4 54.8 56.2 47.7 50.7 47.6 46.6 50.2 50.5 47.4 62.9 42.3 49.4 47.8 47.2 40.3 35.5 234.3 (35.1) (33.5) (30.8) 201.3 (29.9) (27.7) (27.5) 180.4 (26.4) (25.5) (25.1) 178 (25.7) (25.5) (24.7) 162.2 (23.4) (23.7) (22.5) 134.6 (19.6) (19.6) (17.9) (15) (14.5) (14.5) (14.4)
Stock-Based Compensation 25 19 (19) 0 20 8 18 18 19 (73) 17 33 23 9 13 15 5 (35) 0 0 12 10 7 (2) 9 9 4 5 11 13 17 9 8 12 18 12 13 7 6 4 9 0 0 0 52.8 0 52.8 0.2 52.8 0 0 0.2 0 0 9.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital 385 (53) (28) 15 359 77 (159) 143 303 (211) (155) 50 173 (247) (138) 544 248 41 (159) 31 (73) (868) 69 690 (12) 136 (84) 193 347 65 (73) 121 200 (249) (106) 216 268 (23) (56) 18 244 (23.4) 30.1 25.2 99.8 0.4 61 (32.6) 66.4 36 (35) (37.2) 73.9 (29.5) (39.6) 63.8 47 126.9 (84.1) 107 (15.4) (11.1) (0.5) 2.5 1.6 (0.6) 0.1 (0.9) (0.7) (1.1) (2.2) 0.5 (5.1) 2 (69.3) 65.8 4.5 (24.8) (16.6) 20.9 21.8 (9.8) (10.4) 28.2 29.4 (45.2) (25.2) 45.8 9.6
Other Non-Cash Items 0 (1) 0 (10) 52 55 4 71 23 23 157 174 120 98 155 88 133 (4) (302) 242 301 578 (76) (293) 204 (91) 0 0 (2) 0 0 0 (2) (117) 0 0 (48) 0 0 0 8 (82.8) 0.2 11.5 (43.8) 32 (51.8) 1.8 (51.1) (0.4) (6.4) 6 46.3 (0.6) 204.3 (15.3) 0.2 (158.7) 108.4 (21.3) 44.8 (224.5) 119.4 124 73 (212.2) 85.7 88.8 82.5 (204.6) 77.7 64 77.4 (158.5) 128.6 23 78.2 (140.6) 49.4 48.1 45 (114.4) 39.6 37.9 36 52.1 40.9 32.2 35.7
Operating Cash Flow 421 185 229 376 459 274 318 580 292 (53) 271 610 222 9 174 948 287 129 (106) 840 167 (350) (205) 288 33 341 348 565 468 209 260 420 306 233 273 614 470 180 307 374 525 89.9 93.6 (3.3) 167.2 21.6 82.7 85.5 191.8 (4.8) 7.5 35.4 111.4 (29.8) 8.8 145.8 69.4 13.6 99 102.2 50.2 6.2 91.2 156.4 76.3 7.3 112.4 116.8 73.7 (22) 114.9 75.6 36.7 1 82.7 95.1 44.1 (8.7) 59.7 58.1 16.4 (2.0) 46 64.1 36 (30) 15.1 58.7 4.7
Investing Activities
Capital Expenditure (338) (625) (222) (503) (238) (429) (265) (530) (57) (503) (357) (510) (124) (724) (315) (344) (288) (102) (88) (75) (27) (2) (36) (49) (119) (169) (194) (218) (115) (406) (131) (188) (235) (185) (329) (296) (216) (169) (169) (221) (119) (71.6) (137.4) (113.7) (38.8) (68.3) (48.5) (72.5) (140.7) (107.5) (93.9) (67.8) (28.4) (10.8) (32) (66.9) (145.2) (112.3) (109.7) (124.8) (101.8) (275.8) (140.2) (77.8) (71.2) (285.7) (90.7) (127.6) (109.4) (169.2) (104.7) (133) (32.1) (109) (21.4) (118.9) (20.5) (56.3) (12.1) (13.5) (21.4) (47.0) (12.8) (39.9) (88.9) (4.2) (7.1) (9.4) (8.9)
Acquisitions 0 0 0 0 0 0 (659) 0 0 32 0 2 0 (394) (148) 0 0 (38) (219) 452 511 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (20) (1,951) 0 0 0 2 1.4 2 0.3 4.1 0.3 2.2 0.1 0.8 0.1 1.4 0.4 1.7 15.3 21.5 5.5 43.1 (37.7) 37.7 0 8.3 0 0 0 35.3 0 0 0 15.6 0 0 0 59.2 0 0 0 14.6 0 0 0 12.0 0 0 0 0 0 0 0
Purchases of Investments 0 0 (395) (374) (470) (404) (265) (150) (13) (17) (130) (188) (201) (127) (260) (858) (552) (888) (889) (1,281) (1,243) (870) (1,088) (477) (527) (364) (561) (534) (351) (162) (143) (291) (238) (161) (398) (453) (557) (185) (165) (252) (358) (310.4) (471.3) (127) (246.8) (187.9) (247.7) (101.4) (422) (171.8) (173.7) (98.6) (240.8) (117.7) 436.1 (431.1) (159.8) (234.5) (148.3) (79.8) (1.5) (39.1) (44.4) (28.6) (25.7) (164.5) (35.8) (38.9) (84.2) (207.4) (213.4) (8.2) (14.6) (7.9) (32.2) 0 (13.4) (107.1) (19.8) (41.7) (0.8) 1.1 194.3 (139) (132.5) (541.5) (4.8) 0 0
Sales/Maturities of Investments 0 0 282 429 336 608 865 155 133 346 232 186 388 521 408 443 880 926 1,108 829 732 798 482 527 511 446 565 388 275 259 383 173 301 319 528 256 285 324 281 217 140 285.4 293.9 457.4 249.7 142.3 153.7 180.4 223.3 131.6 158.2 182.7 70.8 22.2 30.1 129.5 131.6 119.8 62.1 67.5 50.6 12.6 127.8 3.5 74.6 102.2 18.3 14.9 20.9 190.7 166.3 21.9 7 35 4.8 22.2 48.4 83.3 36.4 0.9 32.9 27.0 (237.6) 130.5 136.9 0 0 0 19.1
Other Investing Activities 169 (2) 86 82 (9) 27 23 41 255 (12) (76) (27) (3) 394 148 (1) (1) 37 215 (452) (516) 248 (1) 2 8 4 12 20 5 11 26 2 8 37 28 10 20 (1,951) 2 2 1 (2.6) 1.6 10.3 6.4 12 12.7 (6.6) (3.3) (21.2) 46.2 (6.8) (4.4) (2.2) 1.9 (17.1) (0.3) (39.9) 38.6 (0.3) 1.2 120.8 (49.5) (42.2) (21) 94.6 (41.4) (46.8) (7.7) 35.3 (15.9) (17) (4.4) 25.5 (30.8) 2.3 3.5 (11.8) 7.1 9.3 (0.7) (7.7) 2.6 1.5 (1) 561.7 4.3 (23.2) (3.8)
Investing Cash Flow (169) (627) (249) (366) (381) (198) (301) (453) 318 (154) (331) (539) 60 (330) (167) (760) 39 (65) 127 (527) (543) 174 (643) 3 (127) (83) (178) (344) (186) (298) 135 (304) (164) 10 (171) (483) (488) (1,981) (51) (254) (336) (97.2) (311.8) 229 (29.2) (97.8) (129.5) 2.1 (342.6) (168.1) (63.1) 10.9 (202.4) (106.8) 451.4 (364.1) (168.2) (223.8) (195) (99.7) (51.5) (173.2) (106.3) (145.1) (43.3) (218.1) (149.6) (198.4) (180.4) (135) (167.7) (136.3) (44.1) 2.8 (79.6) (94.4) 18 (77.3) 11.6 (45) 10 (14.8) (53.5) (46.9) (85.5) 16 (7.6) (32.6) 6.4
Financing Activities
Net Debt Issuance (230) 300 57 88 (156) 330 (65) 83 47 58 220 (53) (96) (52) (94) (69) (170) (112) (541) (392) 74 (344) 1,203 375 765 (212) 505 (139) (139) 76 (286) (138) (120) (132) (106) (58) (101) 342 1,510 (21) (36) (8.9) 2.1 (8.6) (97.7) 47.5 27.4 18.6 22.6 145.5 32.5 (8) 14.3 (7.6) (0.7) 212.9 59.3 0 113.4 (8.2) (6.4) 222.4 (6.2) (5.1) (6.3) 35.4 (6.1) (22.6) (6.7) 15.9 (34.8) 25.3 (25.4) 127.5 (32.5) (28.3) (85.6) 233 (141.9) 110.7 (33.8) 67.5 (10.5) 2.2 49.8 (16.5) (10.6) 23 (8.1)
Stock Repurchased (193) (30) (5) (430) (105) (249) (14) (29) (20) (67) (13) (39) (18) 0 0 0 0 0 0 0 0 0 0 0 (31) (22) (727) (12) (13) (13) (12) (12) (12) (25) (28) (22) 0 0 0 (66) (127) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27 0 (33.4) 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (45) (44) (33) (43) (43) (40) (39) (39) (40) (37) (37) (37) (37) (34) (34) (34) (34) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) 0 (0.8) (1.6)
Other Financing Activities (5) 21 2 34 25 31 (1) 38 (32) (150) (30) 41 0 23 4 31 2 23 (3) 29 8 39 (8) 32 (5) 3 80 2 24 (4) 18 (2) 17 1 15 1 11 3 5 4 13 0 0 0 0 0 (11) 0 36.4 (36.4) (17) 0 0 7.5 0 0 (9.9) 173.6 0 0 0 0.1 29.7 0 0 12 82.9 178.7 82.9 21.4 100.3 99.1 0 (133.9) 28.2 0 57.4 (179.6) (1.8) 0.7 0 (70.4) 0.1 1.5 0 19.1 0.5 17.7 0.3
Financing Cash Flow (428) 291 54 (308) (236) 112 (80) 92 (5) (159) 177 (51) (114) (29) (90) (38) (168) (89) (544) (363) 82 (305) 1,195 407 684 (275) (175) (192) (171) 19 (319) (191) (156) (193) (156) (116) (127) 311 1,481 (117) (184) 2.8 3.3 (7.6) (96.8) 48.2 18 19.5 59.6 109.7 15.9 (8) 7 0.2 (0.6) 213.3 49.6 173.8 113.6 (8.2) (5.6) 222.7 24.1 (4.6) (1.3) 47.8 76.9 156.6 81.8 160.9 69.2 124.7 (23.7) (6.3) (4.2) (12.3) (23.3) 53.6 (141.8) 111.4 (33.8) (2.4) (10.4) 3.9 49.9 29.5 (10.1) (20.4) (9.3)
Cash Position
Net Change in Cash (176) (151) 34 (294) (158) 188 (63) 219 605 (366) 117 20 168 (350) (83) 150 158 (25) (523) (50) (294) (481) 347 698 590 (17) (5) 29 111 (70) 76 (75) (14) 50 (54) 15 (145) (1,490) 1,737 3 5 (4.5) (241.2) 218.1 41.2 (28) (28.8) 107.1 (91.2) (63.2) (39.2) 38.3 (84) (136.4) 459.6 (5) (49.2) (36.4) 17.6 (5.7) (6.9) 55.7 9 6.7 31.7 (163) 39.7 75 (24.9) 3.9 16.4 64 (31.1) (2.5) (1.1) (11.6) 38.8 (32.3) (70.5) 124.4 (7.4) (19.2) (17.9) 21.1 0.4 29.5 (10.1) (20.4) (9.3)
Cash at Beginning 684 835 801 1,072 1,257 1,069 1,132 913 308 647 557 537 369 719 802 652 494 519 1,042 1,092 1,386 1,867 1,520 822 232 249 254 225 114 184 108 183 197 144 198 183 328 1,818 81 78 73 31.2 272.4 54.3 164.9 192.9 221.7 114.6 205.8 269 308.2 269.9 353.9 490.3 30.7 35.7 84.9 137.5 119.9 125.6 132.5 76.8 67.8 61.1 29.4 192.4 152.7 77.7 102.6 98.7 82.3 18.3 49.4 51.9 53 64.6 25.8 58.1 128.6 4.2 11.6 30.8 48.7 27.6 27.2 0 0 0 6.9
Cash at End 508 684 835 778 1,099 1,257 1,069 1,132 913 281 674 557 537 369 719 802 652 494 519 1,042 1,092 1,386 1,867 1,520 822 232 249 254 225 114 184 108 183 194 144 198 183 328 1,818 81 78 26.7 31.2 272.4 206.1 164.9 192.9 221.7 114.6 205.8 269 308.2 269.9 353.9 490.3 30.7 35.7 101.1 137.5 119.9 125.6 132.5 76.8 67.8 61.1 29.4 192.4 152.7 77.7 102.6 98.7 82.3 18.3 49.4 51.9 53 64.6 25.8 58.1 128.6 4.2 11.6 30.8 48.7 27.6 29.5 (10.1) (20.4) (2.4)
Free Cash Flow 83 (440) 7 (127) 221 (155) 53 50 235 (556) (86) 100 98 (715) (141) 604 (1) 27 (194) 765 140 (352) (241) 239 (86) 172 154 347 353 (197) 129 232 71 48 (56) 318 254 11 138 153 406 18.3 (43.8) (117) 128.4 (46.7) 34.2 13 51.1 (112.3) (86.4) (32.4) 83 (40.6) (23.2) 78.9 (75.8) (98.7) (10.7) (22.6) (51.6) (269.6) (49) 78.6 5.1 (278.4) 21.7 (10.8) (35.7) (191.2) 10.2 (57.4) 4.6 (108) 61.3 (23.8) 23.6 (65) 47.6 44.6 (5) (49.0) 33.2 24.2 (52.9) (34.2) 8 49.3 (4.2)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Income Statement
Revenue 3,300 3,632 3,766 3,704 3,137 3,534 3,072 2,897 2,232 2,553 2,839 2,838 2,196 2,479 2,828 2,658 1,681 1,899 1,953 1,527 797 808 701 421 1,636 2,228 2,389 2,288 1,876 2,064 2,212 2,156 1,832 1,942 2,120 2,102 1,749 1,524 1,566 1,494 1,347 1,377 1,515 1,437 1,269 1,306 1,465 1,375 1,222 1,210 1,557 1,256 1,133 1,132 1,272.2 1,213.2 1,039.3 1,044.3 1,198.1 1,110.2 965.2 958.5 1,067.5 976.4 829.9 846.1 967.4 843.9 742.4 827.1 1,065.2 930.8 839.5 847.1 995.1 904.4 759.4 790.3 935.7 873 735.4 730.6 845.7 756.5 642.5 652.9 773.8 698.7 598.4 613.3 609.1 527.3 574.1 462.2 579.3 516 532.4 602.3 552.8 492.5
Gross Profit 3,300 3,424 3,615 946 510 771 878 906 307 482 751 940 281 567 882 782 126 411 562 262 (296) (213) (284) (380) 182 607 773 723 384 499 672 643 388 510 807 871 536 581 694 669 538 539 670 610 466 421 533 473 345 328 457 373 265 268 718.7 567.3 514.4 591.6 571.6 484.2 560.3 725.3 828.7 702.1 606.6 672.5 764.9 700.2 562.4 453.4 392.6 744.1 536.5 1,719.6 377.2 305.5 270.2 1,389.7 295 313.9 271.7 180.9 291.6 225.3 144.5 (511.1) 530.7 253 170.5 206.4 214 139.2 201.4 103.4 209.6 145.9 134.1 228.3 212.9 154
Operating Income (279) 75 148 277 (197) 73 341 322 (166) 32 211 337 (186) 23 62 187 (202) 39 258 549 (161) (595) (571) (288) (321) 252 422 364 25 46 297 271 29 137 427 487 157 241 400 418 290 255 433 372 238 242 316 263 141 130 470 175 76 83 269.5 115.8 72.4 114.1 143.2 57.8 133.8 119.3 216.4 109.9 26 52.8 159.8 66.7 (11.9) (106.7) (120) 106.5 (49.7) 9.1 143.3 77.7 (18.1) (18.2) (24) 80.1 (125.2) (25.8) 90.2 9.1 (80.9) (65.9) 65.2 (20.6) (58.5) (15.3) 4 (54.6) (6.8) (96.4) 11.3 (49.5) (54.3) 37.2 13.1 (13.8)
Net Income (193) 21 73 172 (166) 71 236 220 (132) (2) 139 240 (142) 22 40 139 (143) 18 194 397 (131) (447) (431) (214) (232) 181 322 262 4 23 217 193 4 315 259 293 93 114 256 260 184 191 274 234 149 148 198 165 94 78 289 104 37 44 163 68 41 64 77.5 28.8 74.2 64.8 122.4 58.6 5.3 24.1 87.6 29.1 (19.2) (75.2) (86.5) 63.1 (35.9) 3.4 81.8 46.1 (10.3) (11.6) (17.4) 55.5 (79.1) (33) 90.2 17.4 (80.5) (50.1) 74 (1.7) (42.7) (16.1) 45.2 (90.6) (4.5) (36.4) 4.7 (33.1) (28.9) 15.9 8.8 (7.5)
EPS (Diluted) -1.69 0.18 0.62 1.42 -1.35 0.55 1.84 1.71 -1.05 -0.02 1.08 1.86 -1.11 0.17 0.31 1.09 -1.14 0.14 1.53 3.13 -1.05 -3.47 -3.49 -1.74 -1.89 1.46 2.60 2.11 0.03 0.19 1.75 1.56 0.03 2.55 2.09 2.36 0.75 0.92 2.07 2.10 1.46 1.51 2.14 1.79 1.12 1.11 1.45 1.19 0.68 0.56 2.04 0.74 0.26 0.31 1.14 0.47 0.28 0.44 0.53 0.20 0.51 0.44 0.83 0.40 0.04 0.17 0.62 0.20 -0.13 -0.52 -0.60 0.44 -0.24 0.02 0.50 0.28 -0.06 -0.07 -0.11 0.35 -0.59 -0.25 0.68 0.14 -0.61 -0.38 0.57 -0.02 -0.40 -0.15 0.42 -0.85 -0.04 -0.34 0.04 -0.31 -0.27 0.15 0.08 -0.07
Balance Sheet
Cash & Equivalents 451 627 806 778 1,044 1,201 1,015 1,115 885 281 647 536 516 338 688 778 652 470 495 1,025 1,076 1,370 1,855 1,509 811 221 237 244 215 105 174 102 177 194 144 198 183 328 1,818 81 78 1,273 1,171 164.2 163.3 237.1 80.3 206.1 164.9 192.9 114.6 205.8 269 308.2 30.7 35.7 84.9 101.1 137.5 119.9 125.6 132.5 76.8 67.8 61.1 29.4 192.4 152.7 77.7 102.6 98.7 82.3 18.3 49.4 51.9 53 64.6 25.8 58.1 128.6 4.2 11.6 30.8 48.7 27.6 27.2 11.7 14.4 8.7
Total Assets 20,298 20,361 20,012 19,885 19,818 19,768 19,559 15,342 14,813 15,834 15,165 14,829 14,296 15,346 14,531 14,800 14,210 14,964 13,882 14,656 14,262 15,228 14,749 13,998 13,363 14,001 12,983 12,951 12,640 10,912 10,893 11,055 10,848 10,746 10,739 10,720 10,302 9,977 8,699 7,035 6,829 5,107 5,016 4,985 4,941 4,779 4,456.9 3,362 3,399.3 3,259.2 3,184.4 2,992.1 2,880.7 2,945.2 2,982.7 2,706.7 2,611.2 2,630 2,461.8 2,297.7 2,223.6 2,180.1 1,977.2 1,928.7 1,808.7 1,731.8 1,765.9 1,686.9 1,602.3 1,533.1 1,450.7 1,400.3 1,308.7 1,311.4 1,331.9 1,324.8 1,263 1,313.4 1,352.4 1,456.3 1,287.8 1,315.8 1,282.2 1,261.3 1,191.6 1,135 1,167.6 1,181.9 1,184
Total Debt 6,668 6,893 6,471 6,373 6,276 6,393 6,142 3,875 3,821 3,818 4,127 3,886 3,731 3,780 3,955 4,082 3,999 4,086 4,116 4,673 5,125 5,053 5,425 4,285 3,903 3,207 3,353 3,523 3,682 2,103 2,029 2,312 2,449 2,262 2,701 2,806 2,863 2,955 2,136 626 647 1,570 1,657 1,855.2 1,670 2,183.3 1,358.9 1,094 1,195.6 1,113.6 1,078.2 1,018.9 905.3 889.9 907.2 694.6 645.2 675.9 502.3 388.9 397.1 403.5 181 187.3 192.4 198.7 208.7 214.8 363.9 430.1 440.4 475.1 449.9 475.2 481.7 514.1 542.5 628 630.7 771.7 655.3 686.9 630.1 638.1 633.3 581 567.9 576 550.5
Stockholders' Equity 3,731 4,118 4,029 3,942 4,137 4,372 4,479 4,226 3,977 4,113 4,093 3,951 3,689 3,816 3,826 3,799 3,637 3,801 3,531 3,324 2,875 2,988 3,454 3,861 4,015 4,331 4,252 3,973 3,746 3,751 3,791 3,593 3,439 3,460 3,491 3,264 3,014 2,931 2,864 2,627 2,455 940 885 872.1 688 657.3 1,027.4 635.5 641.2 674.2 643.3 600 655.7 836.4 860.5 834.5 829.6 862.3 890.9 874.8 924.2 930.7 913.3 857.6 814.8 789.5 761.8 716.1 553.1 475.3 336.1 290.1 268.9 272.5 277.7 244.7 210.4 212.5 212.8 183.2 175.3 191.3 195.7 171.1 160.9 166.8 186.8 177.3 242.6
Cash Flow
Operating Cash Flow 421 185 229 376 459 274 318 580 292 (53) 271 610 222 9 174 948 287 129 (106) 840 167 (350) (205) 288 33 341 348 565 468 209 260 420 306 233 273 614 470 180 307 374 525 89.9 93.6 (3.3) 167.2 21.6 82.7 85.5 191.8 (4.8) 7.5 35.4 111.4 (29.8) 8.8 145.8 69.4 13.6 99 102.2 50.2 6.2 91.2 156.4 76.3 7.3 112.4 116.8 73.7 (22) 114.9 75.6 36.7 1 82.7 95.1 44.1 (8.7) 59.7 58.1 16.4 (2.0) 46 64.1 36 (30) 15.1 58.7 4.7
Capital Expenditure (338) (625) (222) (503) (238) (429) (265) (530) (57) (503) (357) (510) (124) (724) (315) (344) (288) (102) (88) (75) (27) (2) (36) (49) (119) (169) (194) (218) (115) (406) (131) (188) (235) (185) (329) (296) (216) (169) (169) (221) (119) (71.6) (137.4) (113.7) (38.8) (68.3) (48.5) (72.5) (140.7) (107.5) (93.9) (67.8) (28.4) (10.8) (32) (66.9) (145.2) (112.3) (109.7) (124.8) (101.8) (275.8) (140.2) (77.8) (71.2) (285.7) (90.7) (127.6) (109.4) (169.2) (104.7) (133) (32.1) (109) (21.4) (118.9) (20.5) (56.3) (12.1) (13.5) (21.4) (47.0) (12.8) (39.9) (88.9) (4.2) (7.1) (9.4) (8.9)
Free Cash Flow 83 (440) 7 (127) 221 (155) 53 50 235 (556) (86) 100 98 (715) (141) 604 (1) 27 (194) 765 140 (352) (241) 239 (86) 172 154 347 353 (197) 129 232 71 48 (56) 318 254 11 138 153 406 18.3 (43.8) (117) 128.4 (46.7) 34.2 13 51.1 (112.3) (86.4) (32.4) 83 (40.6) (23.2) 78.9 (75.8) (98.7) (10.7) (22.6) (51.6) (269.6) (49) 78.6 5.1 (278.4) 21.7 (10.8) (35.7) (191.2) 10.2 (57.4) 4.6 (108) 61.3 (23.8) 23.6 (65) 47.6 44.6 (5) (49.0) 33.2 24.2 (52.9) (34.2) 8 49.3 (4.2)