The Gap, Inc. logo GAP - The Gap, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 21
HOLD 25
SELL 2
STRONG
SELL 0
| PRICE TARGET: $32.67 DETAILS
HIGH: $41.00
LOW: $28.00
MEDIAN: $32.00
CONSENSUS: $32.67
UPSIDE: 39.68%
Annual Quarterly
Metric 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 1999 Q4
Revenue
Revenue 4,236 3,942 3,725 3,463 4,149 3,829 3,720 3,388 4,298 3,767 3,548 3,276 4,243 4,039 3,857 3,477 4,525 3,943 4,211 3,991 4,424 3,994 3,275 2,107 4,674 3,998 4,005 3,706 4,623 4,089 4,085 3,783 4,778 3,838 3,799 3,440 4,429 3,798 3,851 3,438 4,385 3,857 3,898 3,657 4,708 3,972 3,981 3,774 4,575 3,976 3,868 3,729 4,725 3,864 3,575 3,487 4,283 3,585 3,386 3,295 4,364 3,654 3,317 3,329 4,236 3,589 3,245 3,127 4,082 3,561 3,499 3,384 4,675 3,854 3,685 3,558 4,930 3,856 3,716 3,441 4,821 3,860 3,716 3,626 4,898 3,980 3,721 3,668 4,886.5 3,685.3 4,650.6 3,268.3 4,089.6 3,245.2 3,179.7 4,579.1 3,414.7 2,947.7 2,732.0 3,858.9
Cost of Revenue 2,622 2,272 2,189 2,015 2,537 2,194 2,137 1,991 2,626 2,211 2,215 2,062 2,819 2,530 2,527 2,381 3,002 2,282 2,388 2,361 2,756 2,374 2,126 1,839 3,000 2,439 2,449 2,362 2,978 2,466 2,458 2,356 3,019 2,313 2,320 2,137 2,928 2,305 2,414 2,229 2,945 2,417 2,440 2,275 3,050 2,376 2,412 2,308 2,982 2,387 2,301 2,185 2,949 2,271 2,148 2,112 2,878 2,271 2,135 1,991 2,695 2,149 2,003 1,928 2,563 2,065 1,957 1,888 2,693 2,183 2,161 2,042 3,049 2,407 2,421 2,194 3,327 2,409 2,489 2,059 3,180 2,497 2,331 2,145 3,093 2,414 2,289 2,088 3,048.9 2,360 3,022.7 2,177.8 3,063.0 2,204.1 2,054.5 2,836.0 2,004.6 1,698.6 1,469.9 2,122.8
Gross Profit 1,614 1,670 1,536 1,448 1,612 1,635 1,583 1,397 1,672 1,556 1,333 1,214 1,424 1,509 1,330 1,096 1,523 1,661 1,823 1,630 1,668 1,620 1,149 268 1,674 1,559 1,556 1,344 1,645 1,623 1,627 1,427 1,759 1,525 1,479 1,303 1,501 1,493 1,437 1,209 1,440 1,440 1,458 1,382 1,658 1,596 1,569 1,466 1,593 1,589 1,567 1,544 1,776 1,593 1,427 1,375 1,405 1,314 1,251 1,304 1,669 1,505 1,314 1,401 1,673 1,524 1,288 1,239 1,389 1,378 1,338 1,342 1,626 1,447 1,264 1,355 1,603 1,442 1,225 1,382 1,641 1,363 1,385 1,481 1,805 1,566 1,432 1,580 1,837.6 1,325 1,627.9 1,090.5 1,026.6 1,041.1 1,125.2 1,743.1 1,410.1 1,249.1 1,262.1 1,736.1
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 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 1,009 0 0 0 1,016 0 0 1,016 998 0 930 0 922.1 0 872.8 920.4 0 943.3 809.3 750.3 937.3
Other Expenses 1,385 1,336 1,244 1,188 1,353 1,280 1,290 1,192 1,458 1,306 1,227 1,224 1,454 1,323 1,358 1,293 1,515 1,508 1,414 1,390 1,534 1,445 1,076 1,512 1,919 1,338 1,274 1,028 1,273 1,260 1,229 1,198 1,363 1,147 1,028 1,049 1,200 1,104 1,158 987 1,085 1,026 1,089 996 1,139 1,042 1,002 1,023 1,071 1,013 1,046 1,014 1,174 1,073 1,002 980 1,033 968 917 918 1,076 1,001 917 927 1,086 1,024 913 886 991 984 965 959 1,208 1,079 1,039 1,051 1,254 1,161 1,031 0 1,129 1,023 957 0 1,183 1,099 0 0 1,216.8 0 1,202.6 0 1,065.9 0 0 1,293.4 152.9 138.4 132.0 133.7
Operating Expenses 1,385 1,336 1,244 1,188 1,353 1,280 1,290 1,192 1,458 1,306 1,227 1,224 1,454 1,323 1,358 1,293 1,515 1,508 1,414 1,390 1,534 1,445 1,076 1,512 1,919 1,338 1,274 1,028 1,273 1,260 1,229 1,198 1,363 1,147 1,028 1,049 1,200 1,104 1,158 987 1,085 1,026 1,089 996 1,139 1,042 1,002 1,023 1,071 1,013 1,046 1,014 1,174 1,073 1,002 980 1,033 968 917 918 1,076 1,001 917 927 1,086 1,024 913 886 991 984 965 959 1,208 1,079 1,039 1,051 1,254 1,161 1,031 1,009 1,129 1,023 957 1,016 1,183 1,099 1,016 998 1,216.8 930 1,202.6 922.1 1,065.9 872.8 920.4 1,293.4 1,096.2 947.7 882.3 1,071
Operating Income
Operating Income 229 334 292 260 259 355 293 205 214 250 106 (10) (30) 186 (28) (197) 8 153 409 240 134 175 73 (1,244) (245) 221 282 316 372 363 398 229 396 378 451 254 301 389 279 222 355 414 369 386 519 554 567 443 522 576 521 530 602 520 425 395 372 346 334 386 593 504 397 474 587 500 375 353 398 394 373 383 418 368 225 304 349 281 194 373 512 340 428 465 622 467 415 581 620.8 395.7 425.3 168.5 (39.3) 168.3 204.8 449.7 313.9 301.4 379.8 665.1
Interest Expense 0 0 23 23 19 23 24 21 24 28 15 23 25 22 21 20 18 44 51 54 60 55 58 19 18 19 19 20 19 21 17 16 21 18 16 19 18 20 18 18 15 18 16 5 17 18 18 17 20 21 19 1 20 22 22 23 24 22 22 6 0 3 1 0 2 1 1 2 1 0 6 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 62.9 0 0 0 0 0 0 0
Interest Income 7 3 27 26 32 29 27 24 28 28 17 13 12 4 1 1 2 1 1 1 3 1 2 4 9 7 8 6 12 8 7 6 8 4 4 3 2 3 2 0 0 0 0 1 0 0 0 0 2 1 1 1 2 1 2 1 2 1 1 1 4 1 2 11 2 1 2 2 0 0 10 13 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
Profitability
EBITDA 357 462 441 407 408 508 443 353 370 405 253 140 120 330 105 (66) 142 (43) 534 361 263 301 143 (1,110) (96) 368 429 460 537 516 545 375 545 521 596 395 447 538 436 371 512 559 516 535 674 696 706 575 662 708 655 665 742 657 568 540 522 495 480 538 753 665 541 651 753 669 538 498 544 535 515 559 558 508 358 438 475 410 334 508 713 491 555 611 788 620 565 737 784.6 568.4 624.6 369.7 181.5 354.3 400.9 616.7 466.8 439.8 511.8 798.8
EBIT 229 337 319 286 279 384 320 229 242 278 123 3 (18) 190 (27) (196) 10 (171) 410 241 137 176 17 (1,240) (236) 228 290 322 384 371 405 235 404 382 455 266 303 392 281 223 358 415 370 387 522 555 568 443 524 577 522 531 604 521 427 396 374 347 335 387 597 505 399 485 589 501 377 355 398 394 383 420 418 368 225 304 349 281 194 373 512 340 428 465 622 467 416 582 620.8 395 425.3 168.5 (39.3) 168.3 204.8 449.7 313.9 301.4 379.8 665.1
Income Before Tax 236 337 296 263 272 361 296 208 218 250 108 (20) (43) 168 (48) (216) (8) (215) 359 187 77 121 (41) (1,259) (254) 209 271 302 365 350 388 219 383 364 439 238 285 372 263 204 340 396 353 382 502 536 549 426 504 556 503 530 584 499 405 373 350 325 313 381 597 502 398 485 587 500 376 353 401 398 377 408 433 395 251 327 373 305 215 394 531 351 443 467 608 434 318 511 577.5 343.1 369.3 111.3 (67.0) 141.3 181.9 428.0 293.5 289.6 370.8 651.8
Income Tax Expense 65 101 80 70 66 87 90 50 33 32 (9) (2) 230 (114) 1 (54) 8 (63) 101 21 (157) 26 21 (327) (70) 69 103 75 89 84 91 55 178 135 168 95 65 168 138 77 126 148 134 143 183 185 217 166 197 219 200 197 233 191 162 140 132 132 124 148 232 199 164 183 235 193 148 138 158 152 148 159 168 156 93 122 154 108 77 152 193 139 171 176 229 169 124 199 221.9 133.8 120.6 54.6 (32.8) 51.6 66.4 156.2 107.1 105.7 135.4 237.9
Net Income 171 236 216 193 206 274 206 158 185 218 117 (18) (273) 282 (49) (162) (16) (152) 258 166 234 95 (62) (932) (184) 140 168 227 276 266 297 164 205 229 271 143 220 204 125 127 214 248 219 239 319 351 332 260 307 337 303 333 351 308 243 233 218 193 189 233 365 303 234 302 352 307 228 215 243 246 229 249 265 238 152 178 219 189 128 242 338 212 272 291 379 265 194 312 355.7 209.3 248.7 56.8 (34.2) 89.8 115.5 271.8 186.3 183.9 235.5 413.9
Per Share Data
EPS (Basic) 0.46 0.63 0.58 0.51 0.53 0.73 0.55 0.42 0.50 0.59 0.32 -0.05 -0.75 0.77 -0.13 -0.44 -0.04 -0.40 0.68 0.44 0.62 0.25 -0.17 -2.51 -0.49 0.37 0.44 0.60 0.72 0.69 0.77 0.42 0.53 0.59 0.69 0.36 0.55 0.51 0.31 0.32 0.54 0.61 0.53 0.57 0.75 0.81 0.76 0.58 0.69 0.73 0.65 0.72 0.74 0.64 0.50 0.48 0.44 0.38 0.35 0.40 0.60 0.49 0.36 0.45 0.51 0.44 0.33 0.31 0.34 0.35 0.32 0.34 0.35 0.30 0.19 0.22 0.27 0.23 0.15 0.28 0.39 0.24 0.30 0.33 0.39 0.29 0.22 0.35 0.35 0.23 0.25 0.07 -0.04 0.10 0.14 0.31 0.22 0.22 0.28 0.47
EPS (Diluted) 0.45 0.62 0.57 0.51 0.54 0.72 0.54 0.41 0.49 0.58 0.32 -0.05 -0.75 0.77 -0.13 -0.44 -0.04 -0.40 0.67 0.43 0.61 0.25 -0.17 -2.51 -0.49 0.37 0.44 0.60 0.72 0.69 0.76 0.42 0.52 0.58 0.68 0.36 0.55 0.51 0.31 0.32 0.53 0.61 0.52 0.56 0.75 0.80 0.75 0.58 0.68 0.72 0.64 0.71 0.73 0.63 0.49 0.47 0.44 0.38 0.35 0.40 0.60 0.48 0.36 0.45 0.51 0.44 0.33 0.31 0.34 0.35 0.32 0.34 0.35 0.30 0.19 0.22 0.27 0.23 0.15 0.28 0.39 0.24 0.30 0.31 0.39 0.28 0.21 0.33 0.35 0.22 0.25 0.06 -0.04 0.10 0.13 0.31 0.21 0.21 0.27 0.47
Shares Outstanding 373 372 373 375 377 377 376 374 372 371 369 360 366 365 367 368.2 376 376 378 376 375 380 364.7 371.3 373 375 378 379 381 384 387 389 389 391 395 399 399 399 398 398 400 406 417 421 423 432 439 445 448 463 468 464 472 481 486 489 490 503 542 583 606 622 646 668 694 698 697 695 712 709 717 733 791 788 813.7 815 810 825 835.1 852.7 864.2 875.1 895.8 888.9 968 902.0 902.0 898.1 1,002.9 891.7 976.8 869.5 864.6 859.7 854.3 850.5 848.8 849.6 850.3 889.8
Metric 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 2,616 2,262 2,194 1,976 2,335 1,969 1,900 1,532 1,872 1,351 1,350 1,170 1,215 679 708 845 877 801 2,375 2,066 1,988 2,471 2,188 1,028 1,364 788 1,177 941 1,081 958 1,322 1,210 1,783 1,353 1,609 1,583 1,783 1,522 1,681 1,313 1,353 2,056 2,348 2,031 1,708 1,491 2,498 2,372 2,261 1,908.4 2,817.9 3,388.5 2,501.1 799.5 723.0 663.1 408.8 352.2 327.9 436.2 450.4 485.7 421 456.1 565.3 271.5 515.2 836.3 913.2 627.8 220.1 244.6 485.6 477.3 514.2 552.7 579.6 324.2 249.2 298.2 414.5 223.7 261.2 323.1 460.3 267.4 215.6 216.7
Short-Term Investments 386 255 238 244 253 250 246 199 1 0 0 0 0 0 0 0 0 275 337 475 410 178 25 51 290 294 294 272 288 296 286 164 0 0 0 0 0 0 0 0 350 425 225 100 0 165 484 909 1,073 0 0 0 0 0 0 0 0 0 0 0 0 0 15 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
Net Receivables 316 0 0 0 328 0 0 0 325 0 0 0 490 0 0 0 399 0 0 0 363 0 0 0 393 0 0 0 321 0 0 0 282 0 0 0 335 0 0 0 0 0 150 0 0 0 0 0 1,073 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 14 15.4 18.4 15.2 16.7 9.7 8.1
Inventory 2,207 2,459 2,294 2,097 2,067 2,331 2,107 1,952 1,995 2,377 2,226 2,299 2,389 3,043 3,135 3,169 3,018 2,721 2,281 2,370 2,451 2,747 2,242 2,217 2,156 2,720 2,326 2,242 2,131 2,668 2,202 2,035 1,997 2,476 2,051 1,961 1,830 2,398 1,951 1,958 1,632 1,534 1,477 1,473 1,393 2,480 2,087 1,816 1,704 2,273.6 2,111.4 2,047.9 2,821.4 2,589.2 2,149.2 2,048.8 1,904.2 2,567.5 2,080.9 1,652.0 1,462 1,825 1,502.3 1,198.5 1,056.4 1,374.9 1,102.7 823.3 733.2 980.5 791.9 628.7 578.8 711.9 573.1 489.7 482.6 704.8 508.6 409 370.6 537.3 416.2 346.5 331.2 496.6 404.3 361.4
Other Current Assets 252 664 651 567 196 580 556 514 207 646 663 814 417 1,316 1,106 991 270 1,410 1,201 1,091 283 966 882 920 165 770 770 757 171 792 780 778 111 654 598 575 124 751 669 674 718 649 323 672 668 725 1,683 1,691 592 1,551.3 321.6 303.3 330.9 355.5 396.4 350.1 335.1 475.6 375.0 315.7 285.4 306.6 283.1 263.9 250.1 195 216.1 184.8 184.5 154.7 189.1 263.4 264.9 249.4 216.6 226.7 217.8 223.1 255.2 271.4 270.6 235.7 202.1 254.9 149.7 77.4 84.9 86.3
Total Current Assets 5,777 5,640 5,377 4,884 5,203 5,130 4,809 4,197 4,395 4,374 4,239 4,283 4,617 5,038 4,949 5,005 5,165 5,207 6,194 6,002 6,008 6,362 5,337 4,216 4,516 4,572 4,567 4,212 4,251 4,714 4,590 4,187 4,568 4,483 4,258 4,119 4,315 4,671 4,301 3,945 4,053 4,664 4,664 4,276 3,769 4,861 6,898 6,788 6,689 5,733.3 5,250.9 5,739.7 5,653.5 3,744.2 3,268.5 3,062.1 2,648.1 3,395.3 2,783.7 2,403.9 2,197.8 2,617.3 2,221.4 1,918.5 1,871.8 1,841.4 1,834 1,844.4 1,830.9 1,763 1,201.1 1,136.7 1,329.3 1,438.6 1,303.9 1,269.1 1,280 1,252.1 1,013 978.6 1,055.7 1,010.7 894.9 942.9 956.4 858.1 714.5 672.5
Non-Current Assets
Property, Plant & Equipment 5,950 5,854 5,875 5,737 5,736 5,763 5,710 5,735 5,681 5,752 5,708 5,769 5,861 6,129 6,341 6,378 6,712 6,712 6,872 6,899 7,058 7,306 7,584 7,796 8,524 9,021 8,948 8,861 2,912 2,887 2,832 2,791 2,805 2,686 2,643 2,605 2,616 2,662 2,755 2,864 2,565 2,585 2,628 2,775 2,820 3,302 3,188 3,227 3,368 3,510.5 3,639.9 3,776.8 3,870.1 4,241.9 4,221.6 4,120.9 4,007.7 3,621.5 3,244.9 2,905.1 2,715.3 2,473.5 2,229.7 1,997.9 1,876.4 1,748.8 1,576.4 1,475.1 1,365.2 1,319.5 1,234.4 1,174 1,135.7 1,067.6 1,018.7 981 957.8 926.2 882.9 852.8 828.8 801.6 772.6 749.4 740.4 722.5 700.9 667.5
Goodwill 207 0 0 0 207 0 0 0 207 0 0 0 207 0 0 0 207 0 0 0 109 0 0 0 109 0 0 0 109 0 0 0 109 0 0 0 109 0 0 0 99 99 99 99 99 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
Intangible Assets 63 0 0 0 59 0 0 0 54 0 0 0 81 0 0 0 90 0 0 0 61 0 0 0 121 0 0 0 92 0 0 0 95 0 0 0 95 0 0 0 59 60 61 63 65 0 0 0 286 428 408.0 385.4 385.4 356.0 358.5 352.5 357.2 344.7 345.8 348.6 275.7 254.5 227.4 211.4 215.7 164.5 172.7 162.2 141.3 142.7 135.8 127.1 125.8 84 83 81.7 74.9 101 97 86 87.7 73.6 67.8 68.4 66.3 36.2 40.5 40.1
Long-Term Investments 28 30 28 28 30 30 31 29 32 30 29 0 0 26 27 26 25 25 32 30 24 24 0 20 0 0 0 17 338 17 18 18 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 5 65 0 38 54 42 0 7 7 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 607 846 866 916 680 960 959 947 707 896 874 880 620 807 854 848 587 836 661 673 533 705 795 698 409 525 528 547 685 572 588 607 412 726 716 687 475 674 681 698 532 537 533 492 468 421 269 282 0 (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.1 0 0.1 0 0 0.1 (0.1) 5.4 64.6 36.1 122 136.7 41.5 30.4 108.5 104.6 103.3 32 62.4 40.4 19.9 0 (0.1) 0 0
Total Non-Current Assets 6,855 6,730 6,769 6,681 6,682 6,723 6,700 6,711 6,649 6,678 6,611 6,649 6,769 6,962 7,222 7,252 7,596 7,573 7,565 7,602 7,761 8,011 8,379 8,494 9,163 9,546 9,476 9,408 3,798 3,459 3,420 3,398 3,421 3,412 3,359 3,292 3,295 3,336 3,436 3,562 3,255 3,281 3,321 3,429 3,452 3,723 3,457 3,509 3,654 3,938.1 4,047.9 4,162.3 4,255.4 4,597.9 4,580.1 4,473.4 4,364.9 3,966.2 3,590.7 3,253.7 2,991 2,728 2,457.2 2,209.4 2,092.1 1,913.4 1,749.1 1,637.3 1,506.6 1,462.1 1,375.6 1,365.7 1,297.6 1,189.6 1,155.4 1,104.2 1,063.1 1,034.7 987.5 956.1 948.5 937.6 880.8 837.7 806.7 758.6 741.4 707.6
Total Assets 12,632 12,370 12,146 11,565 11,885 11,853 11,509 10,908 11,044 11,052 10,850 10,932 11,386 12,000 12,171 12,257 12,761 12,780 13,759 13,604 13,769 14,373 13,716 12,710 13,679 14,118 14,043 13,620 8,049 8,173 8,010 7,585 7,989 7,895 7,617 7,411 7,610 8,007 7,737 7,507 7,308 7,945 7,985 7,705 7,221 8,584 10,355 10,297 10,343 9,671.4 9,298.8 9,902.0 9,908.9 8,342.1 7,848.6 7,535.4 7,012.9 7,361.5 6,374.4 5,657.6 5,188.8 5,345.3 4,678.6 4,127.9 3,963.9 3,754.8 3,583.1 3,481.7 3,337.5 3,225.1 2,576.7 2,502.4 2,626.9 2,628.2 2,459.3 2,373.3 2,343.1 2,286.8 2,000.5 1,934.7 2,004.2 1,948.3 1,775.7 1,780.6 1,763.1 1,616.7 1,455.9 1,380.1
Current Liabilities
Account Payables 1,567 1,545 1,656 1,292 1,488 1,523 1,522 1,196 1,349 1,433 1,406 1,199 1,320 1,388 1,640 1,599 1,951 1,630 1,583 1,530 1,743 2,284 1,629 971 1,174 1,241 1,246 994 1,126 1,299 1,297 1,072 1,181 1,330 1,230 1,119 1,243 1,413 1,224 1,108 1,141 1,052 1,027 1,038 812 1,681 1,240 1,075 1,178 1,174.4 926.8 1,159 1,443.9 1,156.3 1,081.8 912.2 1,067.2 1,032.1 922.9 728.1 805.9 725.6 742.4 617.6 684.1 536.4 530.3 376.4 417 433.3 384.5 296.1 351.8 390.2 313.9 205 262.5 358.4 293.4 233.2 263.7 304.7 265.7 214.3 216.7 232 227.3 163.1
Short-Term Debt 0 0 0 0 0 0 0 624 600 604 578 0 0 0 717 717 0 746 789 798 0 823 856 500 920 934 946 929 0 0 0 0 0 0 0 67 65 424 424 424 0 0 0 0 0 0 272 271 283 0 0 500.0 500.0 1,279.2 941.7 1,031.2 1,029.9 1,482.4 859.4 631.5 169 636.5 413.5 97.8 90.7 526.4 93 97.3 101.6 115.2 90.2 86.2 40.1 86.3 67.2 46.8 21.8 0 0 0 2.5 2.9 13.8 79.5 7.6 19 9.2 3
Deferred Revenue 0 0 0 0 0 0 0 44 337 24 16 0 354 (691) 0 0 345 0 27 16 231 41 40 23 226 189 195 206 227 193 194 201 247 0 0 28 256 19 70 49 0 0 0 0 0 0 824 833 0 0 0 0 960.4 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
Other Current Liabilities 1,044 0 0 0 1,007 0 0 (624) 110 (604) (578) 0 799 0 (717) (717) 939 (746) (789) (798) 667 (823) (856) 0 550 (934) (946) (929) 543 0 0 0 458 0 0 0 446 0 0 0 0 0 0 0 0 25 31 82 125 76.6 208.4 0.6 200.3 0 0 0 702.0 724.8 617.8 669.5 778 861.5 687.1 682.1 778.3 624.8 641.7 525.3 472.9 458.6 307.8 281.5 383 342.7 260.4 235.1 267.4 294.4 160.7 189.6 233.7 204.3 157 190 237.9 171.8 104.2 124.6
Total Current Liabilities 3,300 3,279 3,197 2,854 3,256 3,325 3,224 2,806 3,096 3,139 3,007 2,918 3,256 3,381 3,614 3,472 4,077 3,823 3,651 3,638 3,884 4,431 3,649 3,431 3,209 3,192 3,134 2,831 2,174 2,393 2,341 2,058 2,461 2,596 2,399 2,302 2,453 2,915 2,781 2,555 2,029 2,091 2,131 1,971 1,685 2,714 2,367 2,261 2,492 2,073.9 1,918.6 2,726.6 3,104.5 3,443.6 2,787.1 2,659.0 2,799.1 3,239.3 2,400.1 2,029.0 1,752.9 2,223.6 1,843 1,397.5 1,553.1 1,687.6 1,265 999 991.5 1,007.1 782.5 663.8 774.9 819.2 641.5 486.9 551.7 652.8 454.1 422.8 499.9 511.9 436.5 483.8 462.2 422.8 340.7 290.7
Non-Current Liabilities
Long-Term Debt 1,492 4,887 1,491 1,490 1,490 1,489 1,489 1,489 1,488 4,944 1,637 1,837 1,836 1,836 1,835 1,835 1,484 5,647 6,568 6,667 2,216 2,214 2,212 1,250 1,249 1,249 1,249 1,249 1,249 1,249 1,249 1,249 1,249 1,248 1,248 1,248 1,248 1,320 1,321 1,318 952 947 963 989 996 188 2,015 2,317 2,487 2,908.6 2,907.5 2,895.8 2,875.7 1,273.0 1,268.0 1,270.3 780.2 1,003.5 1,022.9 769.3 784.9 808.9 542.3 545 496.5 496.4 496.3 496.1 496 495.9 0 0 0 0 0 0 0 0 0 0 0 0 0 9.3 75 75 75 75
Deferred Tax Liabilities 381 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 198 0 0 0 0 0 0 0 152 0 0 0 191 0 0 0 91 0 0 0 217 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
Other Non-Current Liabilities 173 (2,839) 555 537 522 544 538 519 512 (2,947) 510 539 544 539 560 575 445 (3,640) (3,828) (3,956) 438 458 423 381 397 393 391 372 1,073 1,091 1,080 1,081 1,135 1,027 1,025 999 1,005 1,046 1,076 1,112 0 0 0 0 0 1,072 613 613 581 581.9 599.8 621.4 540.1 571.8 544.6 531.1 505.3 498.5 452.3 431.5 418 394.7 365.8 347.6 340.6 314.8 292.5 292 266 249.2 234.2 220 197.5 176.8 166.4 156.8 150.9 146.3 136 127.8 129.1 119.7 111.5 94.6 99.4 95.3 86.8 80.4
Total Non-Current Liabilities 5,531 5,444 5,516 5,390 5,365 5,393 5,384 5,395 5,353 5,453 5,580 5,829 5,897 6,048 6,252 6,331 5,962 6,170 7,088 7,160 7,271 7,571 7,814 6,962 7,154 7,292 7,284 7,218 2,322 2,340 2,329 2,330 2,384 2,275 2,273 2,247 2,253 2,366 2,397 2,430 952 947 963 989 996 1,260 2,628 2,930 3,068 3,490.5 3,507.3 3,517.2 3,415.8 1,844.9 1,812.7 1,801.4 1,285.5 1,502.0 1,475.2 1,200.8 1,202.9 1,203.6 908.1 892.6 837.1 811.2 788.8 788.1 762 745.1 234.2 220 197.5 176.8 166.4 156.8 150.9 146.3 136 127.8 129.1 119.7 111.5 103.9 174.4 170.3 161.8 155.4
Total Liabilities 8,831 8,723 8,713 8,244 8,621 8,718 8,608 8,201 8,449 8,592 8,587 8,747 9,153 9,429 9,866 9,803 10,039 9,993 10,739 10,798 11,155 12,002 11,463 10,393 10,363 10,484 10,418 10,049 4,496 4,733 4,670 4,388 4,845 4,871 4,672 4,549 4,706 5,281 5,178 4,985 2,981 3,038 3,094 2,960 2,681 3,974 4,995 5,191 5,560 5,564.4 5,426.0 6,243.8 6,520.4 5,288.5 4,599.8 4,460.4 4,084.7 4,741.3 3,875.3 3,229.8 2,955.8 3,427.2 2,751.1 2,290.1 2,390.2 2,498.8 2,053.8 1,787.1 1,753.5 1,752.2 1,016.7 883.8 972.4 996 807.9 643.7 702.6 799.1 590.1 550.6 629 631.6 548 587.7 636.6 593.1 502.5 446.1
Stockholders' Equity
Common Stock 19 19 19 19 19 19 19 19 19 18 18 18 18 18 18 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 19 20 20 20 20 20 20 55 55 55 55 55 55 49 49 49 48.6 48.5 48.4 48.4 47.4 47.3 47.1 47.0 46.8 46.7 46.5 50.4 50.2 50.2 50 50 0 50 50 0 36 24 24 16 16 16 16 16 8 8 8 8 8 8 0 0 0 0 0
Retained Earnings 3,608 3,499 3,325 3,171 3,039 2,889 2,672 2,522 2,420 2,291 2,128 2,067 2,140 2,468 2,241 2,389 2,622 2,681 2,879 2,667 2,501 2,268 2,173 2,235 3,257 3,573 3,551 3,495 3,481 3,368 3,268 3,127 3,081 2,965 2,902 2,796 2,749 2,621 2,509 2,476 11,221 11,050 10,815 10,272 10,103 9,018 6,706 6,532 6,241 5,661.7 5,472.2 5,289.5 5,060.5 4,943.8 5,161.0 5,090.3 4,974.8 4,722.0 4,573.3 4,408.3 4,172.8 3,796.7 3,500.6 3,323.8 3,121.4 2,845.4 2,626.8 2,509.4 2,392.8 2,196.6 2,052 2,002.5 1,938.4 1,787.7 1,674.3 1,629.7 1,569.3 1,431.4 1,331.3 1,315.7 1,282.3 1,180.4 1,103.7 1,076.3 1,026.8 931.5 866.5 851.8
Accumulated Other Comprehensive Income 38 48 41 40 60 50 51 47 43 58 44 53 48 69 46 46 38 16 8 2 9 24 22 46 40 42 55 57 53 53 53 51 36 40 23 46 54 28 (1) 20 167 146 155 130 116 106 19 17 22 (20.1) (30.5) (30) (39.3) (50.3) (50.9) (44.9) (32.3) (14.8) (8.1) (16.5) (29.9) (52.6) (49.8) (108) (88) (1,116.5) (102) (100) (938.7) (104) (90) (100) (106) (90) (108) (108) (116) (122) (134) (134) (126) (108) 0 0 0 0 0 0
Total Stockholders' Equity 3,801 3,647 3,433 3,321 3,264 3,135 2,901 2,707 2,595 2,460 2,263 2,185 2,233 2,571 2,305 2,454 2,722 2,787 3,020 2,806 2,614 2,371 2,253 2,317 3,316 3,634 3,625 3,571 3,553 3,440 3,340 3,197 3,144 3,024 2,945 2,862 2,904 2,726 2,559 2,522 4,327 4,907 4,891 4,745 4,540 4,610 5,360 5,106 4,648 4,107.0 3,872.9 3,658.2 3,388.5 3,053.6 3,248.8 3,075.0 2,928.2 2,620.2 2,499.1 2,427.8 2,233 1,918.1 1,927.5 1,837.8 1,573.7 1,256 1,529.3 1,694.6 1,584 1,472.9 1,560 1,618.6 1,654.5 1,632.2 1,651.4 1,729.6 1,640.5 1,487.7 1,410.4 1,384.1 1,375.2 1,316.7 1,227.7 1,192.9 1,126.5 1,023.6 953.4 934
Total Liabilities & Equity 12,632 12,370 12,146 11,565 11,885 11,853 11,509 10,908 11,044 11,052 10,850 10,932 11,386 12,000 12,171 12,257 12,761 12,780 13,759 13,604 13,769 14,373 13,716 12,710 13,679 14,118 14,043 13,620 8,049 8,173 8,010 7,585 7,989 7,895 7,617 7,411 7,610 8,007 7,737 7,507 7,308 7,945 7,985 7,705 7,221 8,584 10,355 10,297 10,343 9,671.4 9,298.8 9,902.0 9,908.9 8,342.1 7,848.6 7,535.4 7,012.9 7,361.5 6,374.4 5,657.6 5,188.8 5,345.3 4,678.6 4,127.9 3,963.9 3,754.8 3,583.1 3,481.7 3,337.5 3,225.1 2,576.7 2,502.4 2,626.9 2,628.2 2,459.3 2,373.3 2,343.1 2,286.8 2,000.5 1,934.7 2,004.2 1,948.3 1,775.7 1,780.6 1,763.1 1,616.7 1,455.9 1,380.1
Debt Metrics
Total Debt 5,611 8,912 5,592 5,486 5,475 5,466 5,459 5,500 5,441 5,548 5,648 5,948 6,020 1,836 6,409 6,473 6,251 6,393 7,357 7,465 7,664 7,936 8,247 7,967 7,677 7,833 7,839 7,775 1,249 1,249 1,249 1,249 1,249 1,248 1,248 1,315 1,313 1,744 1,745 1,742 952 947 963 989 996 188 2,287 2,588 2,770 2,908.6 2,907.5 3,395.8 3,375.6 2,552.3 2,209.7 2,301.5 1,810.2 2,485.9 1,882.3 1,400.7 953.9 1,445.4 955.8 642.8 587.2 1,022.8 589.3 593.4 597.6 611.1 90.2 86.2 40.1 86.3 67.2 46.8 21.8 18 0 0 2.5 2.9 13.8 88.8 82.6 94 84.2 78
Net Debt 2,995 6,650 3,398 3,510 3,140 3,497 3,559 3,968 3,569 4,197 4,298 4,778 4,805 1,157 5,701 5,628 5,374 5,592 4,982 5,399 5,676 5,465 6,059 6,939 6,313 7,045 6,662 6,834 168 291 (73) 39 (534) (105) (361) (268) (470) 222 64 429 (1,353) (2,056) (1,385) (2,031) (1,708) (1,303) (211) 216 509 1,000.2 89.7 7 874.5 1,752.8 1,486.8 1,638.4 1,401.4 2,133.7 1,554.5 964.6 503.5 959.7 534.8 186.7 21.9 751.3 74.1 (242.9) (315.6) (16.7) (129.9) (158.4) (445.5) (391) (447) (505.9) (557.8) (324.2) (249.2) (298.2) (412) (220.8) (247.4) (234.3) (377.7) (173.4) (131.4) (138.7)
Metric 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 407 236 216 193 206 274 206 158 185 218 117 (18) (273) 282 (49) (162) (16) (152) 258 166 234 95 (62) (932) (184) 140 168 227 276 266 297 164 205 229 271 143 220 204 125 127 212 272 291 194 312 355.7 262.6 209.3 202.5 248.7 135.3 56.8 36.7 (34.2) (178.8) 89.8 271.8 186.3 183.9 235.5 413.9 315 195.8 202.4 313.8 237.8 136.8 136.1 215.6 164.5 69.5 84.3 171.2 134.3 65.8 81.6 154.6 116.9 32.4 50.1 118.7 93.7 44.3 63.5 109.3 78.9 28.7 41.5
Depreciation & Amortization 253 125 122 121 129 124 123 124 128 127 130 137 138 140 132 130 132 128 124 120 126 125 126 130 140 140 139 138 137 129 125 126 127 123 126 123 129 130 140 132 151 127 146 148 154 163.8 156.3 172.7 171.1 199.3 192.5 201.2 187.9 220.9 207.5 186.0 167.0 152.9 138.4 132.0 133.7 106.6 100.9 95 90 83.9 77.7 74.8 75.1 68.1 69.8 56.7 58.2 50.7 53.4 52.6 50.3 51.6 50.1 45.4 44.6 42.7 41.9 39 38.6 37 34.2 32
Stock-Based Compensation 44 37 34 37 41 27 31 27 16 20 21 23 9 22 5 1 42 25 36 36 22 20 17 18 4 17 23 24 19 24 27 21 27 18 22 20 21 19 21 15 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
Change in Working Capital 585 75 17 (498) 230 (156) 197 (278) 410 (38) 241 (113) 817 (328) 40 (332) (13) (390) 14 (78) (554) 191 793 (602) 656 (345) 198 (199) 352 (405) 140 (390) 289 (246) (19) (186) 520 (329) 217 (87) (321) (258) (181) (276) (307) 809.2 (107.2) 7 (412) 394.4 (290.0) (128.6) (163.4) 762.8 (84.2) 68.7 812.5 (372.8) (315.3) (393.1) 367.6 (202.3) (175.2) (289.7) 557.1 (271.9) (14.2) (72.9) 262.9 12.4 (38.2) (206) 158.4 37.3 62.6 (109.6) 126.9 (8) (61.5) (128.7) 159.1 (20.7) (40.1) (77.3) 223.7 (8.9) 4.2 (52.1)
Other Non-Cash Items (312) (196) 5 (1) 0 (3) 1 (2) (2) 9 4 (19) 18 (64) 37 2 15 335 10 78 73 4 63 487 390 (3) 3 (184) (18) (18) (10) (7) 7 (3) (3) (14) 58 23 53 (23) 13 (42) 4 22 9 28.3 24.7 10 14 112.2 36.0 7.1 12.2 (24.5) 6.0 31.9 (9.1) 13.9 21.4 65.9 41.5 7.4 31 134.3 (21.8) 10.9 13.4 42.7 (6) 3.3 5.6 7.1 (27) 1.9 2.3 41.3 (0.4) 0.6 5.3 3.5 4 (6.2) 0.7 13.7 (0.5) 0.3 1.5 5.3
Operating Cash Flow 985 299 448 (140) 616 291 549 30 700 304 513 15 719 95 155 (362) 127 (110) 452 340 (162) 486 853 (940) 883 (55) 554 29 814 21 612 (66) 780 114 395 91 919 66 566 168 32 71 225 81 174 1,485.8 339.3 375.2 (29.4) 954.6 73.8 136.6 73.4 925.0 (49.6) 376.4 1,242.1 (19.7) 28.4 40.3 956.7 226.7 152.5 142 939.1 60.7 213.7 180.7 547.6 248.3 106.7 (57.9) 360.8 224.2 184.1 65.9 331.4 161.1 26.3 (29.7) 309.3 109.5 46.8 38.9 350.2 107.2 69.1 24.8
Investing Activities
Capital Expenditure (289) (146) (98) (83) (117) (148) (89) (93) (132) (89) (82) (117) (108) (171) (178) (228) (208) (217) (145) (124) (104) (80) (86) (122) (179) (199) (159) (508) (195) (184) (188) (138) (268) (188) (165) (110) (141) (113) (131) (139) (173) (163) (112) (112) (44) (90.8) (71.2) (54) (55.8) (86.5) (32.3) (87.6) (96.9) (143.8) (207.9) (277.3) (533.0) (531.8) (472.7) (321.1) (372.9) (315.8) (331) (219) (206.5) (242.1) (174.8) (174.2) (132.9) (141.3) (117.6) (93.8) (125) (95.8) (81.8) (69.2) (79.3) (88.3) (74) (60.7) (68.6) (62.4) (58.2) (43.6) (50.7) (53.8) (64.6) (43.2)
Acquisitions 0 0 0 0 0 0 0 0 0 (2) 0 11 0 0 0 0 0 (135) (49) 28 0 0 0 0 0 0 0 (69) 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 (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
Purchases of Investments (274) (68) (67) (78) (66) (67) (75) (201) 0 0 0 0 0 0 0 0 (119) (207) (129) (298) (271) (178) 0 (59) (58) (85) (81) (69) (56) (86) (155) (167) 0 0 0 0 0 0 0 0 (195) (494) (775) (207) (529) 0 0 (30) (20) 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 (14.4) (36.2) 53.5 (92.9) 0 0 0 0
Sales/Maturities of Investments 127 51 74 88 65 64 30 3 0 0 0 0 0 0 0 0 394 268 267 233 40 23 28 297 62 85 60 86 65 76 33 3 0 0 0 0 0 0 0 0 581 576 293 631 693 0 0 20 313 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 37.4 93.6 43.7 0 (19.3) 13.8 9.7 33.9 27 24 31.2 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 0 2 0 0 0 1 0 0 76 0 125 0 333 (5) 0 0 0 0 0 2 0 0 0 0 220 (2) (1) 1 (7) 6 1 45 14 (4) 0 0 (1) 74 914 4 0 (8) (759.0) (282.0) (3) 7 10.1 0.2 2.0 (0.3) 0 (1.7) 0.2 24.7 11.8 (2.0) (50.8) 0 (5.4) (31.8) (2.7) (8.4) 40.6 (41.3) (19.7) 13.2 2.9 30.1 (49.2) (26.8) (1.4) (21.1) (19) (29.5) 2.8 (11.2) 1 29.8 (22.5) (22.7) (21.7) (83.6) (1.6) 0.4 (2.4)
Investing Cash Flow (436) (163) (91) (73) (116) (151) (134) (291) (131) (91) (82) (30) (108) (46) (178) 105 62 (291) (56) (161) (335) (235) (56) 116 (175) (199) (180) (340) (188) (195) (309) (309) (262) (187) (120) (96) (145) (113) (131) (140) 287 833 (590) 301 122 (849.8) (353.2) (67) 244 (76.4) (32.1) (85.6) (97.2) (147.9) (209.6) (277.1) (508.3) (520.0) (474.7) (371.9) (372.9) (321.2) (362.8) (221.7) (214.9) (201.5) (216.1) (193.9) (119.7) (101) 6.1 (99.3) (151.8) (116.5) (89.1) (78.5) (74.9) (58.5) (61.2) (28.5) (53.2) (121.1) (27.4) (158.2) (134.3) (55.4) (64.2) (45.6)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 (150) (200) 0 0 0 0 350 0 (1,062) 0 0 0 0 382 500 0 0 0 0 0 0 0 0 0 0 0 0 (421) 0 0 0 0 0 0 (303) (170) (140.6) 1,235.6 (1,263) (500) 0 0 0 1,303.6 (538.7) 338.2 (91.3) (703.1) 624.5 481.8 468.3 (462.5) 480.9 317.4 60.8 (437) 427.6 (1.9) 12.7 (28.5) 518.6 3.4 46.9 (44.9) 18.7 19.7 24.9 5.5 18.9 (0.1) (3.5) 1.2 (11.9) (65.9) (3) (11.6) 13.3 0 0
Stock Repurchased (3) 0 (82) (70) 0 0 0 0 0 0 0 0 0 (12) (57) (54) (73) (73) (55) 0 0 0 0 0 (50) (50) (50) (50) (98) (100) (100) (100) (15) (100) (104) (96) 0 0 0 0 (189) (996) (488) 0 0 0 0 0 0 0 0 0 0 0 0 0 (35.4) (52.5) (141.4) (163.3) (146.7) (318.8) (141.3) (100.3) 7.3 (519.5) (311.7) (68.2) (98.8) (242.7) (130.5) (121.1) (142.3) (147) (137.5) (39.9) 1.4 (30.7) 0 (42) (48.3) 0 0 (10) 0 0 0 0
Dividends Paid (62) (62) (62) (61) (56) (57) (56) (56) (56) (55) (56) (55) (54) (55) (55) (56) (44) (45) (46) (91) 0 0 0 0 (90) (91) (91) (92) (92) (93) (94) (94) (89) (90) (90) (92) (92) (92) (92) (91) (39) (40) (62) (20) (20) (19.7) (19.3) (20) (19.8) (19.7) (20.1) (19.3) (19.2) (19.2) (19.1) (19.1) (18.9) (18.9) (18.9) (18.9) (18.8) (19) (19.1) (18.9) (18.9) (19.1) (19.5) (19.4) (19.5) (19.8) (20) (20.2) (20.6) (20.9) (21.1) (21.3) (16.7) (16.8) (16.8) (16.7) (16.9) (17) (16.9) (14) (13.9) (14) (14) (11.1)
Other Financing Activities (69) (10) 5 (22) (72) (12) 9 (21) 5 (2) 5 (3) 0 5 1 (7) 4 (2) 16 (7) (1) 4 (1) (1) 3 4 6 (9) 5 5 11 1 4 8 (62) (5) 3 (15) 29 (6) 0 0 0 0 0 2.8 (1,305.8) (1) 1 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) 0 0.1 (0.1) 0 0.1 (0.1) (0.2) 0.1 0 0 0.1 0 (0.2) 0.1 0 (0.1) 0.1 0 0.1 0.1 (0.1) 0 0 0 5.9 0
Financing Cash Flow (127) (66) (139) (153) (128) (69) (47) (77) (51) (207) (251) (58) (54) (62) (111) 233 (113) (1,175) (85) (98) 5 4 387 499 (137) (137) (135) (151) (185) (188) (183) (193) (100) (182) (256) (193) (510) (107) (63) (97) (213) (985) (526) (259) (171) (117.0) (73.0) (1,254) (495.4) (1.8) 71.9 7.4 1,301.0 (533.8) 334.0 (34.2) (679.2) 570.1 339.8 324.7 (604.6) 147.4 175.2 (28.1) (431.8) (105.3) (317.4) (63.8) (140.1) 259.2 (137.2) (83.5) (199.5) (146.9) (134.6) (14.1) (5.5) (27.5) (14.2) (58.7) (63.9) (26.6) (81.7) (17.6) (23.1) 0.3 (5.9) (5.9)
Cash Position
Net Change in Cash 422 68 218 (361) 367 69 368 (340) 522 1 180 (75) 567 (29) (136) (31) 73 (1,578) 311 80 (483) 258 1,193 (333) 575 (389) 237 (462) 444 (364) 111 (570) 430 (256) 26 (200) 261 (159) 368 (57) 109 (91) (891) 126 111 223.9 128.7 (947) (277) 887.4 114.3 67.6 1,283.4 236.2 76.6 59.9 56.6 24.3 (108.3) (14.2) (35.3) 64.7 (35.1) (109.2) 293.8 (243.7) (321.1) (76.9) 285.4 407.6 (24.5) (241) 8.4 (36.8) (38.6) (26.8) 250 74.9 (14.2) (116.2) 190.8 (26.6) (81.7) (137.2) 192.9 52 (1.2) (26.6)
Cash at Beginning 2,222 2,194 2,004 2,365 1,998 1,929 1,561 1,901 1,379 1,378 1,198 1,273 706 735 871 902 829 2,407 2,096 2,016 2,499 2,241 1,048 1,381 806 1,195 958 1,420 976 1,340 1,229 1,799 1,353 1,609 1,583 1,783 1,522 1,681 1,313 1,370 1,263 1,354 2,245 2,372 2,261 2,037.1 1,803 2,750 3,388.5 2,501.1 2,386.8 2,319.2 1,035.7 799.5 723.0 663.1 352.2 327.9 436.2 450.4 485.7 421 456.1 565.3 271.5 515.2 836.3 913.2 627.8 220.2 0 485.6 0 0 0 579.6 0 0 0 414.5 0 0 0 460.3 0 0 0 243.3
Cash at End 2,644 2,262 2,222 2,004 2,365 1,998 1,929 1,561 1,901 1,379 1,378 1,198 1,273 706 735 871 902 829 2,407 2,096 2,016 2,499 2,241 1,048 1,381 806 1,195 958 1,420 976 1,340 1,229 1,783 1,353 1,609 1,583 1,783 1,522 1,681 1,313 1,372 1,263 1,354 2,498 2,372 2,261 2,037.1 1,803 2,750 3,388.5 2,501.1 2,386.8 2,319.2 1,035.7 799.5 723.0 408.8 352.2 327.9 436.2 450.4 485.7 421 456.1 565.3 271.5 515.2 836.3 913.2 627.8 (24.5) 244.6 8.4 (36.8) (38.6) 552.8 250 74.9 (14.2) 298.3 190.8 (26.6) (81.7) 323.1 192.9 52 (1.2) 216.7
Free Cash Flow 696 153 350 (223) 499 143 460 (63) 568 215 431 (102) 611 (76) (23) (590) (81) (327) 307 216 (266) 406 767 (1,062) 704 (254) 395 (479) 619 (163) 424 (204) 512 (74) 230 (19) 778 (47) 435 29 (141) (92) 113 (31) 130 1,395.1 268.4 320.7 (85.2) 868.1 41.5 49.0 (23.5) 781.1 (257.4) 99.1 709.1 (551.5) (444.3) (280.8) 583.8 (89.1) (178.5) (77) 732.6 (181.4) 38.9 6.5 414.7 107 (10.9) (151.7) 235.8 128.4 102.3 (3.3) 252.1 72.8 (47.7) (90.4) 240.7 47.1 (11.4) (4.7) 299.5 53.4 4.5 (18.4)
Key Metrics 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 1999 Q4
Income Statement
Revenue 4,236 3,942 3,725 3,463 4,149 3,829 3,720 3,388 4,298 3,767 3,548 3,276 4,243 4,039 3,857 3,477 4,525 3,943 4,211 3,991 4,424 3,994 3,275 2,107 4,674 3,998 4,005 3,706 4,623 4,089 4,085 3,783 4,778 3,838 3,799 3,440 4,429 3,798 3,851 3,438 4,385 3,857 3,898 3,657 4,708 3,972 3,981 3,774 4,575 3,976 3,868 3,729 4,725 3,864 3,575 3,487 4,283 3,585 3,386 3,295 4,364 3,654 3,317 3,329 4,236 3,589 3,245 3,127 4,082 3,561 3,499 3,384 4,675 3,854 3,685 3,558 4,930 3,856 3,716 3,441 4,821 3,860 3,716 3,626 4,898 3,980 3,721 3,668 4,886.5 3,685.3 4,650.6 3,268.3 4,089.6 3,245.2 3,179.7 4,579.1 3,414.7 2,947.7 2,732.0 3,858.9
Gross Profit 1,614 1,670 1,536 1,448 1,612 1,635 1,583 1,397 1,672 1,556 1,333 1,214 1,424 1,509 1,330 1,096 1,523 1,661 1,823 1,630 1,668 1,620 1,149 268 1,674 1,559 1,556 1,344 1,645 1,623 1,627 1,427 1,759 1,525 1,479 1,303 1,501 1,493 1,437 1,209 1,440 1,440 1,458 1,382 1,658 1,596 1,569 1,466 1,593 1,589 1,567 1,544 1,776 1,593 1,427 1,375 1,405 1,314 1,251 1,304 1,669 1,505 1,314 1,401 1,673 1,524 1,288 1,239 1,389 1,378 1,338 1,342 1,626 1,447 1,264 1,355 1,603 1,442 1,225 1,382 1,641 1,363 1,385 1,481 1,805 1,566 1,432 1,580 1,837.6 1,325 1,627.9 1,090.5 1,026.6 1,041.1 1,125.2 1,743.1 1,410.1 1,249.1 1,262.1 1,736.1
Operating Income 229 334 292 260 259 355 293 205 214 250 106 (10) (30) 186 (28) (197) 8 153 409 240 134 175 73 (1,244) (245) 221 282 316 372 363 398 229 396 378 451 254 301 389 279 222 355 414 369 386 519 554 567 443 522 576 521 530 602 520 425 395 372 346 334 386 593 504 397 474 587 500 375 353 398 394 373 383 418 368 225 304 349 281 194 373 512 340 428 465 622 467 415 581 620.8 395.7 425.3 168.5 (39.3) 168.3 204.8 449.7 313.9 301.4 379.8 665.1
Net Income 171 236 216 193 206 274 206 158 185 218 117 (18) (273) 282 (49) (162) (16) (152) 258 166 234 95 (62) (932) (184) 140 168 227 276 266 297 164 205 229 271 143 220 204 125 127 214 248 219 239 319 351 332 260 307 337 303 333 351 308 243 233 218 193 189 233 365 303 234 302 352 307 228 215 243 246 229 249 265 238 152 178 219 189 128 242 338 212 272 291 379 265 194 312 355.7 209.3 248.7 56.8 (34.2) 89.8 115.5 271.8 186.3 183.9 235.5 413.9
EPS (Diluted) 0.45 0.62 0.57 0.51 0.54 0.72 0.54 0.41 0.49 0.58 0.32 -0.05 -0.75 0.77 -0.13 -0.44 -0.04 -0.40 0.67 0.43 0.61 0.25 -0.17 -2.51 -0.49 0.37 0.44 0.60 0.72 0.69 0.76 0.42 0.52 0.58 0.68 0.36 0.55 0.51 0.31 0.32 0.53 0.61 0.52 0.56 0.75 0.80 0.75 0.58 0.68 0.72 0.64 0.71 0.73 0.63 0.49 0.47 0.44 0.38 0.35 0.40 0.60 0.48 0.36 0.45 0.51 0.44 0.33 0.31 0.34 0.35 0.32 0.34 0.35 0.30 0.19 0.22 0.27 0.23 0.15 0.28 0.39 0.24 0.30 0.31 0.39 0.28 0.21 0.33 0.35 0.22 0.25 0.06 -0.04 0.10 0.13 0.31 0.21 0.21 0.27 0.47
Balance Sheet
Cash & Equivalents 2,616 2,262 2,194 1,976 2,335 1,969 1,900 1,532 1,872 1,351 1,350 1,170 1,215 679 708 845 877 801 2,375 2,066 1,988 2,471 2,188 1,028 1,364 788 1,177 941 1,081 958 1,322 1,210 1,783 1,353 1,609 1,583 1,783 1,522 1,681 1,313 1,353 2,056 2,348 2,031 1,708 1,491 2,498 2,372 2,261 1,908.4 2,817.9 3,388.5 2,501.1 799.5 723.0 663.1 408.8 352.2 327.9 436.2 450.4 485.7 421 456.1 565.3 271.5 515.2 836.3 913.2 627.8 220.1 244.6 485.6 477.3 514.2 552.7 579.6 324.2 249.2 298.2 414.5 223.7 261.2 323.1 460.3 267.4 215.6 216.7
Total Assets 12,632 12,370 12,146 11,565 11,885 11,853 11,509 10,908 11,044 11,052 10,850 10,932 11,386 12,000 12,171 12,257 12,761 12,780 13,759 13,604 13,769 14,373 13,716 12,710 13,679 14,118 14,043 13,620 8,049 8,173 8,010 7,585 7,989 7,895 7,617 7,411 7,610 8,007 7,737 7,507 7,308 7,945 7,985 7,705 7,221 8,584 10,355 10,297 10,343 9,671.4 9,298.8 9,902.0 9,908.9 8,342.1 7,848.6 7,535.4 7,012.9 7,361.5 6,374.4 5,657.6 5,188.8 5,345.3 4,678.6 4,127.9 3,963.9 3,754.8 3,583.1 3,481.7 3,337.5 3,225.1 2,576.7 2,502.4 2,626.9 2,628.2 2,459.3 2,373.3 2,343.1 2,286.8 2,000.5 1,934.7 2,004.2 1,948.3 1,775.7 1,780.6 1,763.1 1,616.7 1,455.9 1,380.1
Total Debt 5,611 8,912 5,592 5,486 5,475 5,466 5,459 5,500 5,441 5,548 5,648 5,948 6,020 1,836 6,409 6,473 6,251 6,393 7,357 7,465 7,664 7,936 8,247 7,967 7,677 7,833 7,839 7,775 1,249 1,249 1,249 1,249 1,249 1,248 1,248 1,315 1,313 1,744 1,745 1,742 952 947 963 989 996 188 2,287 2,588 2,770 2,908.6 2,907.5 3,395.8 3,375.6 2,552.3 2,209.7 2,301.5 1,810.2 2,485.9 1,882.3 1,400.7 953.9 1,445.4 955.8 642.8 587.2 1,022.8 589.3 593.4 597.6 611.1 90.2 86.2 40.1 86.3 67.2 46.8 21.8 18 0 0 2.5 2.9 13.8 88.8 82.6 94 84.2 78
Stockholders' Equity 3,801 3,647 3,433 3,321 3,264 3,135 2,901 2,707 2,595 2,460 2,263 2,185 2,233 2,571 2,305 2,454 2,722 2,787 3,020 2,806 2,614 2,371 2,253 2,317 3,316 3,634 3,625 3,571 3,553 3,440 3,340 3,197 3,144 3,024 2,945 2,862 2,904 2,726 2,559 2,522 4,327 4,907 4,891 4,745 4,540 4,610 5,360 5,106 4,648 4,107.0 3,872.9 3,658.2 3,388.5 3,053.6 3,248.8 3,075.0 2,928.2 2,620.2 2,499.1 2,427.8 2,233 1,918.1 1,927.5 1,837.8 1,573.7 1,256 1,529.3 1,694.6 1,584 1,472.9 1,560 1,618.6 1,654.5 1,632.2 1,651.4 1,729.6 1,640.5 1,487.7 1,410.4 1,384.1 1,375.2 1,316.7 1,227.7 1,192.9 1,126.5 1,023.6 953.4 934
Cash Flow
Operating Cash Flow 985 299 448 (140) 616 291 549 30 700 304 513 15 719 95 155 (362) 127 (110) 452 340 (162) 486 853 (940) 883 (55) 554 29 814 21 612 (66) 780 114 395 91 919 66 566 168 32 71 225 81 174 1,485.8 339.3 375.2 (29.4) 954.6 73.8 136.6 73.4 925.0 (49.6) 376.4 1,242.1 (19.7) 28.4 40.3 956.7 226.7 152.5 142 939.1 60.7 213.7 180.7 547.6 248.3 106.7 (57.9) 360.8 224.2 184.1 65.9 331.4 161.1 26.3 (29.7) 309.3 109.5 46.8 38.9 350.2 107.2 69.1 24.8
Capital Expenditure (289) (146) (98) (83) (117) (148) (89) (93) (132) (89) (82) (117) (108) (171) (178) (228) (208) (217) (145) (124) (104) (80) (86) (122) (179) (199) (159) (508) (195) (184) (188) (138) (268) (188) (165) (110) (141) (113) (131) (139) (173) (163) (112) (112) (44) (90.8) (71.2) (54) (55.8) (86.5) (32.3) (87.6) (96.9) (143.8) (207.9) (277.3) (533.0) (531.8) (472.7) (321.1) (372.9) (315.8) (331) (219) (206.5) (242.1) (174.8) (174.2) (132.9) (141.3) (117.6) (93.8) (125) (95.8) (81.8) (69.2) (79.3) (88.3) (74) (60.7) (68.6) (62.4) (58.2) (43.6) (50.7) (53.8) (64.6) (43.2)
Free Cash Flow 696 153 350 (223) 499 143 460 (63) 568 215 431 (102) 611 (76) (23) (590) (81) (327) 307 216 (266) 406 767 (1,062) 704 (254) 395 (479) 619 (163) 424 (204) 512 (74) 230 (19) 778 (47) 435 29 (141) (92) 113 (31) 130 1,395.1 268.4 320.7 (85.2) 868.1 41.5 49.0 (23.5) 781.1 (257.4) 99.1 709.1 (551.5) (444.3) (280.8) 583.8 (89.1) (178.5) (77) 732.6 (181.4) 38.9 6.5 414.7 107 (10.9) (151.7) 235.8 128.4 102.3 (3.3) 252.1 72.8 (47.7) (90.4) 240.7 47.1 (11.4) (4.7) 299.5 53.4 4.5 (18.4)