Southwest Airlines Co. logo LUV - Southwest Airlines Co.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 19
HOLD 21
SELL 5
STRONG
SELL 0
| PRICE TARGET: $49.89 DETAILS
HIGH: $73.00
LOW: $32.00
MEDIAN: $50.00
CONSENSUS: $49.89
UPSIDE: 22.10%
Annual Quarterly
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 7,249 7,442 6,949 7,244 6,428 6,930 6,870 7,354 6,329 6,823 6,525 7,037 5,706 6,172 6,220 6,728 4,694 5,051 4,679 4,008 2,052 2,013 1,793 1,008 4,234 5,729 5,639 5,909 5,149 5,704 5,575 5,742 4,944 5,274 5,271 5,744 4,883 5,076 5,139 5,384 4,826 4,977 5,318 5,111 4,414 4,628 4,800 5,011 4,166 4,428 4,545 4,643 4,084 4,173 4,309 4,616 3,991 4,108 4,311 4,136 3,103 3,114 3,192 3,168 2,630 2,712 2,666 2,616 2,357 2,734 2,891 2,869 2,530 2,492 2,588 2,583 2,198 2,276 2,342 2,449 2,019 1,988 1,989 1,944 1,663 1,655 1,674 1,716 1,484 1,517 1,515 1,400.5 1,472.8 1,237.6 1,553.8 1,428.6 1,467.4 1,478.8 1,460.7 1,242.6
Cost of Revenue 6,521 5,931 5,791 5,886 5,561 5,702 5,753 5,863 5,704 6,096 5,450 5,286 5,038 5,165 5,006 4,779 4,114 4,172 3,284 2,828 1,390 2,660 2,716 1,915 3,646 4,299 4,058 4,173 3,914 4,128 4,038 4,039 3,703 3,834 3,717 3,789 3,560 3,570 3,786 3,489 3,304 3,334 3,515 3,460 3,114 3,383 3,595 3,665 3,407 3,452 3,595 3,665 3,500 7,705 3,604 3,642 3,466 2,080 2,205 2,099 1,484 2,862 1,375 1,378 1,224 729 771 690 671 1,061 1,036 939 734 1,599 637 581 1,387 1,349 1,346 1,299 1,241 1,152 1,056 1,040 961 950 912 933 894 870 817 820.7 817 761.5 806.6 780.9 773.4 747.9 728.0 716.2
Gross Profit 728 1,511 1,158 1,358 867 1,228 1,117 1,491 625 727 1,075 1,751 668 1,007 1,214 1,949 580 879 1,395 1,180 662 (647) (923) (907) 588 1,431 1,581 1,736 1,235 1,576 1,537 1,703 1,241 1,440 1,586 1,942 1,294 1,505 1,353 1,895 1,522 1,643 1,803 1,651 1,300 1,245 1,205 1,346 759 976 950 978 584 (3,532) 705 974 525 2,028 2,106 2,037 1,619 252 1,817 1,790 1,406 1,983 1,895 1,926 1,686 1,673 1,855 1,930 1,796 893 1,951 2,002 811 927 996 1,150 778 836 933 904 702 705 762 783 590 647 698 579.9 656 476.1 747.2 647.7 694.0 730.9 732.6 526.4
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 1,120 1,123 0 0 346 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,698 1,725 1,631 1,145 1,668 1,596 1,333 956 938 1,273 1,198 861 909 863 836 846 856 839 800 978 832 814 942 939 938 951 876 853 847 823 796 769 761 622 737 757 724 653.0 651 604.5 598.1 565.5 557.2 555.8 577.6 495.9
Other Expenses 398 0 0 1,133 1,090 604 1,079 1,093 1,018 1,131 958 956 952 1,392 819 791 731 684 662 586 463 521 488 220 698 766 762 768 730 756 739 731 625 667 741 727 688 660 658 619 578 617 578 566 520 625 591 571 544 591 560 545 514 (3,623) (1,044) (1,211) (1,128) 736 213 234 172 (920) 524 154 154 955 964 940 900 758 913 886 908 (212) 868 860 (215) (186) (203) (203) (196) (181) (162) (175) (175) (183) (190) (36) (193) (221) (166) (160.9) (184.0) (165.5) (141.8) (127.9) (114.3) (125.0) (159.5) (124.8)
Operating Expenses 398 1,120 1,123 1,133 1,090 950 1,079 1,093 1,018 1,131 958 956 952 1,392 819 791 731 684 662 586 463 521 488 220 698 766 762 768 730 756 739 731 625 667 741 727 688 660 658 619 578 617 578 566 520 625 591 571 544 591 560 545 514 (3,623) 654 514 503 1,881 1,881 1,830 1,505 36 1,462 1,427 1,352 1,816 1,873 1,803 1,736 1,604 1,769 1,725 1,708 766 1,700 1,674 727 753 735 748 680 672 685 648 621 586 571 586 544 536 558 492.1 467.0 439 456.3 437.6 442.9 430.8 418.1 371.0
Operating Income
Operating Income 330 391 35 225 (223) 278 38 398 (393) (404) 117 795 (284) (385) 395 1,158 (151) 195 733 594 199 (1,168) (1,411) (1,127) (110) 665 819 968 505 820 798 972 616 773 845 1,215 606 845 695 1,276 944 1,026 1,225 1,085 780 620 614 775 215 385 390 433 70 91 51 460 22 147 225 207 114 216 355 363 54 167 22 123 (50) 69 86 205 88 127 251 328 84 174 261 402 98 164 248 256 81 119 191 197 46 111 140 87.8 189.0 37.1 290.9 210.2 251.1 300.1 314.6 155.4
Interest Expense 42 31 22 26 35 47 54 55 58 58 59 60 60 60 75 82 84 115 106 108 103 102 100 89 23 19 20 22 22 23 24 23 22 19 13 14 18 16 19 21 19 21 22 22 26 28 25 28 26 27 31 25 24 30 30 32 35 47 47 49 40 38 38 37 36 41 43 47 38 35 29 26 28 0 28 29 0 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 23 33 34 54 84 105 121 130 141 158 156 144 125 116 70 28 3 7 2 2 2 2 4 9 17 20 23 24 23 23 20 15 12 11 9 8 7 7 6 6 5 4 2 2 1 1 2 2 2 1 1 2 2 2 2 2 2 2 1 4 3 3 2 9 3 2 3 3 10 13 13 11 15 0 22 28 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 728 809 484 706 239 783 581 937 168 187 671 1,313 220 142 763 1,443 32 515 1,028 925 561 (914) (1,127) (837) 190 998 1,147 1,292 823 1,171 1,111 1,275 901 1,036 1,147 1,498 868 1,143 952 1,624 1,125 1,132 1,213 1,249 993 580 788 1,002 491 584 671 601 328 379 280 602 395 494 12 500 213 410 531 375 207 379 185 304 81 106 (24) 703 210 (1,506) 445 613 219 (1,201) 392 529 222 (1,018) 369 372 193 (865) 300 304 (893) (1,186) (719) (773.2) (252) (776.7) (562.6) (611.1) (561.8) (495.4) (459.0) (608.5)
EBIT 330 438 90 306 (157) 376 143 533 (240) (228) 296 946 (145) (225) 428 1,118 (292) 192 706 610 249 (1,229) (1,442) (1,150) (121) 685 839 990 526 840 810 983 624 757 845 1,179 550 825 637 1,325 835 868 955 999 749 329 550 774 270 360 450 388 118 155 63 400 194 302 (179) 324 58 251 370 221 53 225 23 154 (69) (48) (176) 555 65 (1,650) 305 476 84 (1,335) 261 402 98 (1,139) 248 256 81 (978) 191 197 (996) (1,285) (814) (866.3) (338) (856.9) (640.8) (688.8) (636.4) (566.9) (527.5) (675.2)
Income Before Tax 285 407 68 280 (192) 329 89 478 (298) (286) 237 886 (205) (285) 353 1,036 (376) 77 600 502 146 (1,331) (1,542) (1,239) (144) 666 819 968 504 817 786 960 602 738 832 1,165 532 809 618 1,304 816 847 933 977 723 301 525 746 244 333 419 363 94 125 33 368 159 255 (226) 275 18 213 332 184 17 184 (20) 107 (107) (83) (205) 529 37 184 277 447 149 101 78 515 96 136 343 235 89 88 181 179 41 101 397 63.9 169 97.8 287.5 196.5 249.5 301.1 310.9 156.0
Income Tax Expense 58 84 14 67 (43) 68 22 111 (67) (34) 44 203 (46) (65) 76 276 (98) 9 154 154 30 (423) (385) (324) (50) 153 160 227 117 163 171 227 139 (1,150) 304 422 193 287 230 484 303 311 349 369 270 111 196 281 92 121 160 139 35 47 17 140 61 103 (86) 114 13 82 127 72 6 69 (4) 16 (16) (27) (85) 208 3 72 115 169 56 44 30 182 35 50 133 91 30 33 62 66 15 35 151 21.5 67 34.3 111.8 75.5 94.8 116.8 120.2 60.3
Net Income 227 323 54 213 (149) 261 67 367 (231) (252) 193 683 (159) (220) 277 760 (278) 68 446 348 116 (908) (1,157) (915) (94) 514 659 741 387 654 615 733 463 1,888 503 746 351 522 388 820 511 536 584 608 453 190 329 465 152 212 259 224 59 78 16 228 98 152 (140) 161 5 131 205 112 11 115 (16) 54 (91) (56) (120) 321 34 112 162 278 93 57 48 333 61 86 227 159 76 55 119 113 26 66 246 42.4 102.3 63.5 175.6 121.0 154.7 184.3 190.6 73.5
Per Share Data
EPS (Basic) 0.45 0.63 0.10 0.40 -0.26 0.45 0.11 0.62 -0.39 -0.37 0.32 1.15 -0.27 -0.37 0.44 1.20 -0.47 0.11 0.75 0.59 0.20 -1.54 -1.96 -1.63 -0.18 0.98 1.24 1.37 0.70 1.17 1.08 1.27 0.79 3.19 0.84 1.24 0.57 0.85 0.63 1.30 0.80 0.83 0.89 0.91 0.67 0.28 0.48 0.67 0.22 0.30 0.37 0.31 0.08 0.11 0.02 0.30 0.13 0.20 -0.18 0.21 0.01 0.18 0.27 0.15 0.01 0.15 -0.02 0.07 -0.12 -0.08 -0.16 0.44 0.05 0.15 0.22 0.36 0.12 0.07 0.06 0.42 0.08 0.11 0.29 0.20 0.10 0.07 0.15 0.14 0.03 0.08 0.32 0.05 0.13 0.08 0.23 0.16 0.20 0.25 0.26 0.10
EPS (Diluted) 0.45 0.61 0.10 0.39 -0.26 0.42 0.11 0.58 -0.39 -0.37 0.30 1.07 -0.27 -0.37 0.43 1.20 -0.47 0.11 0.73 0.57 0.19 -1.54 -1.96 -1.63 -0.18 0.98 1.23 1.37 0.70 1.17 1.08 1.27 0.79 3.18 0.84 1.23 0.57 0.84 0.62 1.28 0.79 0.82 0.88 0.90 0.66 0.28 0.48 0.67 0.21 0.30 0.36 0.31 0.08 0.11 0.02 0.30 0.13 0.20 -0.18 0.20 0.01 0.18 0.27 0.15 0.01 0.15 -0.02 0.07 -0.12 -0.08 -0.16 0.44 0.05 0.15 0.22 0.36 0.12 0.07 0.06 0.40 0.07 0.11 0.28 0.20 0.09 0.07 0.15 0.14 0.03 0.08 0.30 0.05 0.13 0.08 0.22 0.15 0.20 0.23 0.24 0.09
Shares Outstanding 498 516 523 538 584 595 599 599 597 596 596 595 594 594 627.7 631.7 591.5 592 592 591 591 588.2 590 561.3 515 525 533 542 551 560 569 578 587 592 597 604 613 617 618 632 641 648 655 665 674 677 683 690 698 699 703 714 725 735 739 757 771 771 792 780 748 748 746 745 743 741 742 741 740 738 736 732 733 733 739 769 786 780.3 789 798 803 803 789 786 784 778 781 784 785 757 780 776.7 772.0 765.4 762.1 760.2 740.6 748.6 745.9 745.7
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 2,878 3,231 2,902 3,475 8,134 7,509 8,503 8,142 8,367 9,288 9,497 9,158 8,359 9,492 10,443 13,234 13,098 12,480 12,980 14,124 11,971 11,063 12,109 12,351 3,940 2,548 2,488 2,446 2,344 1,854 2,104 2,114 1,822 1,495 1,460 1,537 1,851 1,680 1,966 2,040 2,388 989 1,110 1,114 946 1,145 1,050 1,768 1,824 1,865 2,204 1,889 1,815.4 1,944.0 1,489.4 968.3 684.7 523.0 580.6 636.6 542.6 418.8 266.7 487.6 405.6 378.5 452.2 567.2 506.9 623.3 554.1 577.8 652.4 581.8 594 478.3 324.7 317.4 365.8 400.9 172.7 174.5 270.9 116.6 240.2 295.6 249 334.6 346.8
Short-Term Investments 450 0 116 364 118 1,216 879 1,860 2,145 2,186 2,236 3,021 3,315 2,800 3,230 3,197 2,642 3,024 3,024 2,751 2,377 2,271 2,453 2,106 1,605 1,524 1,528 1,540 1,517 1,835 1,716 1,572 1,421 1,778 1,580 1,615 1,631 1,625 1,480 1,375 1,194 2,135 1,663 1,479 1,252 989 507 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1,254 1,149 1,118 1,013 1,078 1,110 1,177 1,346 1,354 1,154 1,467 1,233 1,250 1,040 1,316 1,389 1,692 1,357 1,479 1,328 937 1,130 897 770 709 1,086 867 777 784 568 784 765 680 662 579 576 585 546 848 524 511 277 235 169 237 231 326 222 178 132 128 159 175 125.2 95.3 153.5 144.5 138.1 121.0 117.5 122.1 75.0 113 116.8 116.1 88.8 109.8 112.1 116.5 76.5 106 88.4 84.5 73.4 84.3 99 97.5 79.8 120.3 93.4 96.6 75.7 103.5 89.3 94.9 70.5 74.9 84.7 82.2
Inventory 833 775 792 773 786 800 770 784 812 807 799 714 736 790 776 751 623 537 511 464 448 414 426 422 518 529 528 510 484 461 483 459 430 420 438 365 356 337 331 328 289 226 227 221 200 171 204 108 105 93 87 95 86.0 79.2 78.5 79.6 78.8 80.6 82.1 70.1 66.5 65.2 53.6 60.8 52.1 50.0 48.8 47.2 47.9 52.4 52.3 49.9 50.2 51.1 52.4 49.9 47.9 41 38.2 39.8 36.9 37.6 35.3 28.5 28 31.7 30.2 30.6 31.3
Other Current Assets 0 490 467 467 618 639 601 619 603 520 632 535 614 686 653 825 767 638 560 521 367 295 248 223 256 287 239 281 354 310 514 498 448 460 223 250 235 310 214 0 0 252 291 291 365 365 697 315 231 164 111 97 112.6 212.2 53.8 87.7 91.9 28.0 76.2 21.5 21.4 20.9 55.2 53.8 45.6 20.7 48.4 50.6 49.9 18.8 44.6 43.1 36 11.6 43.3 37.4 32.9 10.4 39.6 33 31.2 9.8 34 36.2 37.3 34.2 23.5 24.6 23.5
Total Current Assets 5,969 5,645 5,395 6,092 10,734 11,274 11,930 12,751 13,281 13,955 14,631 14,661 14,274 14,808 16,418 19,396 18,822 18,036 18,554 19,188 16,100 15,173 16,133 15,872 7,028 5,974 5,650 5,554 5,483 5,028 5,601 5,408 4,801 4,815 4,280 4,343 4,658 4,498 4,839 4,469 4,574 3,971 3,621 3,358 3,094 2,996 2,870 2,471 2,400 2,313 2,581 2,276 2,232.0 2,360.6 1,752.5 1,329.4 1,044.4 831.5 859.9 899.2 805.5 631.0 488.5 719 619.4 574.2 659.2 777.1 721.2 806.4 757 759.2 823.1 751.0 774 664.6 503 473.1 563.9 567.1 337.4 314.9 443.7 270.6 400.4 432 377.6 474.5 483.8
Non-Current Assets
Property, Plant & Equipment 20,376 21,334 20,874 20,644 20,460 20,425 20,874 20,797 20,743 20,598 20,363 19,931 19,404 18,736 17,786 17,089 16,492 16,432 16,667 17,211 17,680 17,723 17,823 18,092 18,267 18,374 19,194 19,157 19,281 19,525 19,279 19,066 18,773 18,539 18,156 17,679 17,286 17,044 16,546 16,294 15,964 10,627 10,621 10,634 10,661 10,813 10,667 8,072 7,683 7,443 6,950 6,734 6,645.5 6,519.8 6,207.9 6,104.7 5,986.5 5,819.7 5,568.5 5,347.3 5,121.5 5,008.2 4,820.9 4,558.9 4,345 4,137.6 3,923.1 3,787.4 3,613.8 3,435.7 3,380.9 3,272.6 3,030 2,969.2 2,842.2 2,903.5 2,862.8 2,779.3 2,680.8 2,622.3 2,666.6 2,505.0 2,376.9 2,440.7 2,226.6 2,141.4 2,009.4 1,871.3 1,785.5
Goodwill 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 970 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 296 296 295 295 299 300 300 300 295 296 296 296 295 296 295 295 295 295 295 295 295 295 0 0 0 296 0 0 313 399 403 406 410 413 416 419 423 426 430 434 460 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 348 457 433 394 352 367 354 302 286 280 249 255 236 235 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 35 45 41 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1,396 359 345 317 397 414 419 443 443 388 471 406 367 324 477 552 683 587 624 542 448 427 679 662 620 281 653 693 412 320 629 615 549 373 427 510 426 348 225 235 232 389 288 277 272 370 987 270 188 122 107 94 76 73.9 34.6 34.6 34.9 18.3 19.3 12.9 13.0 13.2 8.2 4.4 4.5 4.2 4 4.1 4.2 4.1 4.1 4.2 4.1 3.3 3.3 3.4 3.5 3.7 3.6 3.1 3.8 3.2 3.3 2.2 2.2 2.6 2.4 2.4 2.6
Total Non-Current Assets 23,386 23,416 22,917 22,620 22,478 22,476 22,917 22,812 22,737 22,532 22,349 21,858 21,272 20,561 19,528 18,906 18,440 18,284 18,556 19,018 19,393 19,415 19,472 19,724 19,857 19,921 20,817 20,820 20,976 21,214 21,281 21,057 20,702 20,295 19,969 19,578 19,105 18,788 18,206 17,978 17,667 11,016 10,909 10,911 10,933 11,183 11,654 8,342 7,871 7,565 7,057 6,828 6,722 6,593.7 6,242.5 6,139.3 6,021.4 5,838.0 5,587.8 5,360.2 5,134.6 5,021.4 4,829.1 4,563.3 4,349.5 4,141.8 3,927.1 3,791.5 3,618 3,439.7 3,385 3,276.8 3,034.1 2,972.5 2,845.5 2,906.9 2,866.3 2,783 2,684.4 2,625.4 2,670.4 2,508.2 2,380.2 2,442.9 2,228.8 2,144 2,011.8 1,873.7 1,788.1
Total Assets 29,355 29,061 28,312 28,712 33,212 33,750 34,847 35,563 36,018 36,487 36,980 36,519 35,546 35,369 35,946 38,302 37,262 36,320 37,110 38,206 35,493 34,588 35,605 35,596 26,885 25,895 26,467 26,374 26,459 26,243 26,882 26,465 25,503 25,110 24,249 23,921 23,763 23,286 23,045 22,447 22,241 14,987 14,530 14,269 14,027 14,179 14,524 10,813 10,271 9,693 9,638 9,104 8,954 8,954.3 7,994.9 7,468.7 7,065.9 6,670 6,447.7 6,259.4 5,940.0 5,654 5,317.6 5,282.3 4,968.9 4,716.0 4,586.3 4,568.6 4,339.2 4,246.2 4,142 4,036 3,857.2 3,723.5 3,619.5 3,571.5 3,369.3 3,256.1 3,248.3 3,192.5 3,007.8 2,823.1 2,823.9 2,713.5 2,629.2 2,576 2,389.4 2,348.2 2,271.9
Current Liabilities
Account Payables 646 389 503 278 396 339 389 330 281 265 329 305 272 277 279 395 320 156 234 219 169 111 169 139 218 304 1,274 260 256 263 266 280 189 186 165 171 181 138 148 227 191 787 690 746 732 693 735 464 443 405 341 367 362 371.3 397.3 336.0 316.1 312.7 213.1 199.4 209.1 266.7 170.1 176.7 161 157.4 197.4 165.5 149.7 160.9 164.5 142.3 143.7 214.2 133.1 107.5 125.9 116.5 148.1 141.8 137.8 117.6 132.5 123.9 108.3 94 90 86.9 82.9
Short-Term Debt 1,151 324 23 22 2,608 1,630 2,930 2,931 28 29 30 31 32 42 381 1,662 415 371 225 2,166 225 137 720 695 2,795 734 637 654 571 606 346 365 365 348 316 307 285 566 972 963 953 123 170 190 105 163 24 317 307 206 132 132 131 30.0 490.2 110.5 110.1 108.8 108.7 3.9 7.3 7.9 6.9 7.7 8.9 12.0 10.7 15.2 14.8 121.3 119.6 116.9 18.2 12.3 12.2 11.6 11.4 13.5 13.7 13.4 12.8 9.6 9.4 9.3 9.3 16.1 9.8 9.9 11.1
Deferred Revenue 7,049 5,945 6,862 6,696 7,059 6,294 6,743 7,086 7,642 6,551 7,246 7,121 7,217 6,064 6,368 6,312 6,406 5,566 5,751 6,312 4,906 3,790 3,952 4,988 5,036 4,457 4,930 4,962 5,029 4,134 4,756 4,652 4,420 3,495 3,932 4,012 4,012 3,115 3,677 3,754 3,675 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1,399 1,602 1,295 1,250 1,226 1,434 1,269 1,215 1,693 3,040 2,455 2,069 1,677 1,669 1,472 1,082 897 1,328 1,195 1,912 1,352 1,869 1,324 1,963 691 1,420 1,019 872 706 1,258 990 948 772 1,217 1,121 1,008 1,381 1,625 1,189 1,154 1,661 1,486 1,400 1,044 1,207 1,251 1,095 658 700 462 575 535 411.9 517.4 522.1 510.1 504.8 377.1 478.6 427.1 484.3 152.4 773.1 854.6 796.9 203.8 654.4 708.3 689.8 159.3 608 618.4 599.5 158.1 575.6 639.1 544.6 132.1 481.8 534.1 454.9 106.1 403.9 414 420.8 368.5 330.5 349.5 308.2
Total Current Liabilities 12,484 10,921 10,994 10,892 13,901 12,276 13,489 14,113 12,225 12,256 12,112 11,728 11,329 10,378 10,416 11,711 10,069 9,164 9,135 12,476 8,182 7,506 7,804 9,361 10,241 8,952 8,629 8,611 8,723 7,905 7,843 7,716 7,162 6,905 6,965 7,097 7,458 6,844 7,816 7,833 8,253 3,338 2,917 2,676 3,073 3,123 3,826 2,309 2,181 1,723 1,658 1,548 1,433.8 1,439.9 1,927.7 1,629.3 1,488.4 1,298.4 1,383.9 1,327.2 1,306.3 960.5 1,001.2 1,107.8 999.1 850.7 896.2 931.4 886.3 868.5 898.6 915.3 761.4 765.4 720.9 758.2 681.9 610.6 646.8 689.3 607.1 522.3 572.8 560.6 538.4 478.6 430.3 446.3 402.2
Non-Current Liabilities
Long-Term Debt 4,536 4,577 4,079 4,081 4,086 5,069 5,075 5,065 7,974 7,978 7,984 7,994 7,999 7,899 8,315 8,877 10,309 9,897 11,013 9,188 10,546 9,652 10,135 8,905 2,288 1,304 2,398 2,449 2,602 2,771 3,100 3,155 3,227 3,320 2,763 2,788 2,781 2,821 2,323 2,391 2,355 3,324 3,305 3,325 3,278 3,447 1,555 1,239 1,270 1,332 1,539 1,547 1,553 1,660.9 751.6 752.6 754.7 761 762.6 868.1 868.0 872 617.4 617.2 619.1 623.3 622 622.6 624.8 628.1 632.1 636.9 739.2 650.2 652.2 655.7 657.3 661 671.1 674 675.9 583.1 584.2 587.1 588.6 639.1 592.6 595 596.3
Deferred Tax Liabilities 2,353 2,289 2,210 2,186 2,124 2,167 2,094 2,089 1,981 2,044 2,157 2,057 1,888 1,985 1,995 2,072 1,826 1,770 1,795 1,688 1,660 1,634 1,824 2,114 2,278 2,364 2,643 2,497 2,480 2,427 2,553 2,414 2,216 2,358 3,697 3,540 3,442 3,374 3,209 2,818 2,609 2,192 2,250 2,207 1,921 1,895 2,404 1,649 1,476 1,420 1,388 1,243 1,227.5 1,232.8 1,063.9 971.5 891.2 852.9 802.2 763.3 672.7 692.3 620 595.6 560.7 549.2 516.3 485.6 443.2 439.0 414.6 385.2 358 350.0 332.1 310 293.6 281.6 273.7 254.7 237.3 232.8 206.1 208.1 194.6 183.6 163.9 143.9 131.6
Other Non-Current Liabilities 1,569 877 1,144 1,038 923 909 933 926 937 981 880 936 936 969 1,056 1,096 1,160 1,224 1,098 1,120 1,464 1,556 1,507 961 892 870 816 783 728 2,351 2,406 2,305 2,269 2,097 2,024 1,966 1,878 1,776 1,617 1,546 1,488 490 423 493 481 675 360 202 155 183 140 127 134.2 117.0 105.9 93.8 85.7 98.5 77.1 76.1 60.9 68.9 277.8 288.7 280 56.5 281.1 295.2 289.3 45.3 289.2 301.9 298.7 34.7 299.3 293.7 270.2 30.3 274.6 261.8 235.9 28.4 245.4 201.5 210.5 220.7 223.5 228.5 249.2
Total Non-Current Liabilities 9,996 10,159 9,542 9,820 9,946 11,124 10,947 10,985 13,597 13,716 13,814 14,002 13,915 14,304 14,606 15,471 16,776 16,742 17,725 16,042 18,218 18,206 18,032 15,357 7,569 7,111 7,907 7,823 7,945 8,485 8,886 8,752 8,722 8,606 8,484 8,294 8,101 8,001 7,182 6,793 6,492 6,101 6,076 6,127 5,808 6,128 4,429 3,250 3,065 3,103 3,243 3,097 3,098 3,191.6 2,117.5 2,017.8 1,935.3 1,919.8 1,853.2 1,922.7 1,820.5 1,855.9 1,515.2 1,501.5 1,459.8 1,467.4 1,419.4 1,403.4 1,357.3 1,368.6 1,335.9 1,324 1,395.9 1,309.8 1,283.6 1,259.4 1,221.1 1,218.2 1,219.4 1,190.5 1,149.1 1,062.1 1,035.7 996.7 993.7 1,043.4 980 967.4 977.1
Total Liabilities 22,480 21,080 20,536 20,712 23,847 23,400 24,436 25,098 25,822 25,972 25,926 25,730 25,244 24,682 25,022 27,182 26,845 25,906 26,860 28,518 26,400 25,712 25,836 24,718 17,810 16,063 16,536 16,434 16,668 16,390 16,729 16,468 15,884 14,680 15,449 15,391 15,559 14,845 14,998 14,626 14,745 9,439 8,993 8,803 8,881 9,251 8,255 5,559 5,246 4,826 4,901 4,645 4,532.1 4,631.5 4,045.3 3,647.1 3,423.7 3,218.3 3,237.1 3,249.9 3,126.8 2,816.3 2,516.4 2,609.3 2,458.9 2,318.1 2,315.6 2,334.8 2,243.6 2,237.1 2,234.5 2,239.3 2,157.3 2,075.2 2,004.5 2,017.6 1,903 1,828.8 1,866.2 1,879.8 1,756.2 1,584.4 1,608.5 1,557.3 1,532.1 1,522 1,410.3 1,413.7 1,379.3
Stockholders' Equity
Common Stock 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 888 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 808 790 790 789 782 778 776.7 774.0 764.6 762.8 761.8 507.9 507.9 507.9 507.8 505.0 504.2 335.9 335.9 335.9 335.9 223.4 223 221.2 146.8 145.7 145.4 145.1 145 144.8 144.6 144.0 143.9 143.7 143.5 143.3 143.1 143 0 0 0 0 0
Retained Earnings 16,526 16,388 16,158 16,199 16,080 16,332 16,178 16,218 15,959 16,297 16,657 16,571 15,995 16,261 16,588 16,311 15,551 15,774 15,706 15,260 14,912 14,777 15,685 16,842 17,757 17,945 17,525 16,962 16,320 15,967 15,402 14,878 14,238 14,621 12,806 12,378 11,708 11,418 10,957 10,631 9,872 5,075 4,973 4,983 4,863 4,819 4,685 3,979 3,896 3,883 3,718 3,476 3,455.4 3,416.5 3,168.3 3,020.8 2,858.9 2,902.0 2,781.9 2,624.1 2,456.6 2,385.9 2,294.8 2,249.8 2,099.9 2,045.0 1,958.1 1,831.1 1,699.9 1,632.1 1,553.8 1,463 1,370.8 1,321.5 1,295 1,235.7 1,152 1,120.6 1,078.7 1,012.4 954.1 943.7 924.8 867.6 810.5 770.1 725.7 683.2 642.6
Accumulated Other Comprehensive Income (1) (24) (6) (35) (24) (25) (37) 11 19 0 201 58 197 344 305 805 891 388 267 136 (60) (105) (102) (130) (186) (61) (63) 30 96 20 412 298 78 12 (136) (263) (312) (323) (499) (628) (894) (641) (518) (578) (762) (922) 723 287 184 122 74 59 53.7 (2,720.1) 1.4 31.9 35.8 (2,148.1) (2,067.4) (1,992.5) (1,914.5) (1,840.8) (1,781.6) (1,712.5) (1,649.5) (1,601.4) (1,544.8) (1,483.9) (1,424) (1,375.6) (1,323.1) (1,264.8) (1,240.3) (1,188.4) (1,152.9) (1,102.8) (1,054.2) (1,005.1) (958.3) (921.4) (878.8) 0 0 0 0 0 0 0 0
Total Stockholders' Equity 6,875 7,981 7,776 8,000 9,365 10,350 10,411 10,465 10,196 10,515 11,054 10,789 10,302 10,687 10,924 11,120 10,417 10,414 10,250 9,688 9,093 8,876 9,769 10,878 9,075 9,832 9,931 9,940 9,791 9,853 10,153 9,997 9,619 10,430 8,800 8,530 8,204 8,441 8,047 7,821 7,496 5,548 5,537 5,466 5,146 4,928 6,269 5,254 5,025 5,052 4,737 4,459 4,421.6 4,322.8 3,949.7 3,821.6 3,642.1 3,451.3 3,210.5 3,009.5 2,813.2 2,835.8 2,801.2 2,673 2,510 2,397.9 2,270.7 2,233.8 2,095.6 2,009.0 1,907.5 1,796.7 1,699.9 1,648.3 1,615 1,553.9 1,466.3 1,427.3 1,382.1 1,312.7 1,251.6 1,238.7 1,215.4 1,156.2 1,097.1 1,054 979.1 934.5 892.6
Total Liabilities & Equity 29,355 29,061 28,312 28,712 33,212 33,750 34,847 35,563 36,018 36,487 36,980 36,519 35,546 35,369 35,946 38,302 37,262 36,320 37,110 38,206 35,493 34,588 35,605 35,596 26,885 25,895 26,467 26,374 26,459 26,243 26,882 26,465 25,503 25,110 24,249 23,921 23,763 23,286 23,045 22,447 22,241 14,987 14,530 14,269 14,027 14,179 14,524 10,813 10,271 9,878 9,638 9,104 8,953.8 8,954.3 7,994.9 7,468.7 7,065.9 6,669.6 6,447.7 6,259.4 5,940.0 5,652.1 5,317.6 5,282.3 4,968.9 4,716.0 4,586.3 4,568.6 4,339.2 4,246.2 4,142 4,036 3,857.2 3,723.5 3,619.5 3,571.5 3,369.3 3,256.1 3,248.3 3,192.5 3,007.8 2,823.1 2,823.9 2,713.5 2,629.2 2,576 2,389.4 2,348.2 2,271.9
Debt Metrics
Total Debt 6,396 5,981 5,258 5,341 7,995 8,058 9,095 9,109 9,161 9,200 9,273 9,328 9,376 9,473 10,112 12,001 12,241 12,281 12,815 13,300 12,785 12,199 12,595 11,422 6,349 3,996 4,381 4,525 4,684 3,377 3,446 3,520 3,592 3,668 3,079 3,095 3,066 3,387 3,295 3,354 3,308 3,447 3,475 3,515 3,383 3,610 1,579 1,556 1,577 1,538 1,671 1,679 1,684 1,690.9 1,241.8 863.1 864.8 869.8 871.3 872.0 875.3 879.9 624.3 624.9 628 635.3 632.7 637.8 639.6 749.4 751.7 753.8 757.4 662.6 664.4 667.3 668.7 674.5 684.8 687.4 688.7 592.7 593.6 596.4 597.9 655.2 602.4 604.9 607.4
Net Debt 3,518 2,750 2,356 1,866 (139) 549 592 967 794 (88) (224) 170 1,017 (19) (331) (1,233) (857) (199) (165) (824) 814 1,136 486 (929) 2,409 1,448 1,893 2,079 2,340 1,523 1,342 1,406 1,770 2,173 1,619 1,558 1,215 1,707 1,329 1,314 920 2,458 2,365 2,401 2,437 2,465 529 (212) (247) (327) (533) (210) (131) (253.1) (247.6) (105.2) 180.1 346.8 290.7 235.3 332.7 461.1 357.6 137.3 222.4 256.8 180.5 70.6 132.7 126.1 197.6 176 105 80.7 70.4 189 344 357.1 319 286.5 516 418.2 322.7 479.8 357.7 359.6 353.4 270.3 260.6
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 227 323 54 213 (149) 261 67 367 (231) (252) 193 683 (159) (220) 277 760 (278) 68 446 348 116 (908) (1,157) (915) (94) 514 659 741 387 654 615 733 463 1,888 503 746 351 522 388 820 511 227 159 76 113 26 66 106 246 24 42.4 74.9 102.3 21.4 63.5 151.0 175.6 132.5 184.3 190.6 95.6 93.8 127 157.8 95.8 100.4 129.6 133.4 70 80.6 92.5 93.8 50.9 28.1 60.9 85.3 33 43.3 67.7 59.8 11.8 20.3 58.6 58.6 41.8 45.8 43.9 41.9 22.7
Depreciation & Amortization 398 371 394 400 396 407 438 404 408 415 375 367 365 367 335 325 324 323 322 315 312 315 315 313 311 313 308 302 297 331 301 292 277 279 302 319 318 318 315 299 290 121 115 112 106 103 99 97 95 93 93.1 92.0 86.6 84.6 80.2 81.7 78.2 74.5 71.5 68.5 66.7 428.8 (63.8) (59.5) (56.8) 390.8 (59.6) (54) (52) 341.4 (49.9) (47.5) (48.4) 319.8 (46.2) (46.1) (44) 271.2 (38.8) (38.3) (37.3) 241.6 (36.3) (33.8) (32.5) (36.1) (29.6) (27.4) (26.2)
Stock-Based Compensation 0 0 0 0 0 0 0 0 0 0 0 0 0 84 0 0 0 0 0 0 0 0 0 0 0 55 0 0 0 46 0 0 0 37 0 0 0 33 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 79 (476) (176) (285) 659 (127) (425) (908) (214) 365 (47) 269 646 490 (158) 571 579 (148) (1,442) 1,324 166 163 97 1,898 (481) 255 (7) (69) 425 195 170 404 172 (148) (55) (444) 874 (358) (166) (272) 981 117 267 690 119 299 45 (107) 134 131 (140.2) 134.9 83.8 421.1 456.3 124.7 144.1 57.2 (96.1) 72.9 (171.4) 183.2 (123.9) (9.1) (103.2) (39.5) (82.7) 10.8 (103.0) 79.5 14.5 (217.8) 76.1 (67.5) 146.7 85.3 (41.4) (54.6) 39.3 147.5 (269.7) 0 0 0 0 0 0 0 0
Other Non-Cash Items 657 (8) 1 7 (3) (135) 14 3 1 (48) 38 (118) (94) (174) (296) (22) 543 66 32 48 46 21 (7) (218) (64) 21 (43) (44) (17) (184) 83 75 25 (2) 206 62 (7) 267 71 312 (280) 209 33 (30) 27 (27) 33 16 27 7 33.1 (281.5) 20.9 (434.5) (365.5) (12.0) 86.3 (9.1) 71.8 63.9 424.6 (486.6) 170.1 273.2 374.9 (257.9) 196.6 202.9 300.3 (331.8) 69.7 392.1 14.9 (111.1) (79.4) 97.7 194.1 (151.4) (18.5) 24.8 399.6 (183.6) 59.8 104.8 113.3 131.8 131.3 32.9 61.7
Operating Cash Flow 1,418 295 287 401 860 476 113 (23) (104) 425 616 1,416 706 579 234 1,906 1,071 247 (575) 2,005 645 (597) (1,050) 897 (377) 824 1,091 966 1,105 989 1,271 1,631 1,002 562 996 746 1,625 709 856 1,112 1,616 602 668 886 430 417 290 141 638 267 113.9 20.3 293.5 92.6 234.4 345.3 484.2 255.2 231.6 396.0 415.6 219.2 109.4 362.4 310.7 193.8 183.9 293.1 215.3 169.7 126.8 220.6 93.5 169.3 82 222.2 141.7 108.5 49.7 193.8 104.4 78.4 82.1 129.6 122.6 141.5 145.6 47.4 58.2
Investing Activities
Capital Expenditure (630) (859) (678) (635) (501) (460) (527) (500) (592) (718) (850) (933) (1,052) (1,364) (1,079) (990) (514) (183) (138) (95) (95) (90) (89) (113) (224) (261) (375) (230) (160) (543) (462) (538) (433) (533) (655) (598) (463) (714) (497) (488) (449) (268) (302) (423) (510) (360) (383) (337) (325) (193) (230.6) (119.3) (144.1) (109.1) (331.0) (206.0) (206.4) (335.1) (303.5) (304.2) (191.8) (265.4) (333.6) (279.7) (289.1) (274.1) (201.2) (235.8) (236) (111.4) (165) (296.6) (115.9) (182.1) (161.6) (201.3) (132.4) (156.5) (213.8) (157) (201.3) (174.7) (240.4) (252.2) (121.3) (128) (280.9) (5.4) (109.9)
Acquisitions 0 0 0 24 0 0 0 0 0 69 842 (917) 6 3,946 7 3 4 755 135 113 95 90 89 815 0 (262) 375 230 159 538 (454) 521 409 520 638 551 414 674 (464) (462) 438 0 0 (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 (100) (319) (51) (1,168) (636) (1,532) (1,678) (1,623) (1,620) (1,522) (2,204) (1,379) (1,743) (1,545) (925) (1,325) (1,525) (1,651) (1,324) (1,199) (1,536) (1,316) (1,029) (793) (529) (550) (251) (802) (678) (730) (200) (727) (531) (559) (563) (718) (641) (773) (256) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 116 350 72 1,154 834 1,621 1,820 1,720 1,677 2,406 1,828 1,679 1,810 1,702 980 1,300 1,325 1,251 1,277 1,218 1,380 1,191 818 948 799 545 528 575 678 531 574 560 526 566 573 556 592 549 591 530 (185) 0 257 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Investing Activities 185 1 0 (24) 21 868 (27) 6 (35) (69) (842) 917 (6) (3,946) (7) (3) (4) (755) (135) (113) (95) (90) (89) 128 300 662 (375) (230) (159) (538) 459 (521) (409) (520) (638) (551) (414) (674) 469 458 (438) (6) 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investing Cash Flow (445) (742) (428) (882) 623 73 458 (206) (585) (664) (64) (627) (1,577) (933) (1,120) (1,555) (139) (183) (412) (469) (201) 91 (434) 332 (5) 145 (359) (252) 164 (667) (604) (694) (73) (734) (620) (584) (470) (840) (584) (674) (175) (459) (296) (172) (510) (360) (383) (337) (325) (193) (230.6) (119.3) (144.1) (109.1) (331.0) (206.0) (206.4) (335.1) (303.5) (304.2) (191.8) (265.4) (333.6) (279.7) (289.1) (274.1) (201.2) (235.8) (236) (111.4) (165) (296.6) (115.9) (182.1) (161.6) (201.3) (132.4) (156.5) (213.8) (157) (201.3) (174.7) (240.4) (252.2) (121.3) (128) (280.9) (5.4) (109.9)
Financing Activities
Net Debt Issuance 494 828 (5) (2,593) (5) (1,310) (11) (8) (8) (7) (11) (8) (59) (612) (1,918) (231) (323) (607) (188) 582 444 (544) 1,196 3,962 2,422 (370) (70) (75) (99) (87) (98) (75) (82) 542 (106) (59) (369) 95 (68) (48) (56) (1) (27) 192 15 22 (109) (1) (14) (6) (8.5) (1) (50) (95) 611.4 374.0 (1.8) (1.6) (0.8) (3.4) (4.4) 254.8 (0.7) (3.2) (7.4) (2.0) (4.9) (1.9) (110.1) (2.5) (3.6) (1.7) 93.9 (1.6) (3) (1.5) (6.6) (2.6) (2.8) (1.6) 95.4 (0.7) (2.9) (1.6) (57.9) (84.2) (15.5) 10.3 (12.9)
Stock Repurchased (1,250) (50) (250) (1,500) (750) (250) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (451) (550) (500) (450) (500) (500) (500) (500) (500) (350) (300) (400) (550) (300) (250) (700) (500) 0 0 (55) (11) (125) 0 0 0 0 0 0 0 0 0 0 0 (0.0) (1.1) (6.2) (101.4) (90.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (93) 0 (189) (103) (107) 1 (216) 0 (215) 0 (214) 0 (214) 0 0 0 0 0 0 0 0 0 0 0 (188) 0 (96) (98) (178) 0 (91) (93) (148) 0 (75) (76) (123) (1) (62) (63) (96) (3) (4) (7) (4) (7) 0 (3) (4) (7) 0 (3.5) (3.5) (6.9) 0 (3.4) (3.4) 0 (2.7) (2.7) (5.5) (0.0) (0.3) (5.5) (5) (0.0) (2.6) (2.3) (4.4) (0.0) (1.7) (1.7) (3.2) (0.0) (1.6) (1.6) (3) (0.0) (1.4) (1.4) (2.9) (1.4) (1.4) (1.5) (1.4) (1.4) (2.7) 0 (1.3)
Other Financing Activities (43) (15) (2) 3 (13) 2 1 (3) (24) 25 (2) 5 2 2 0 3 3 31 18 22 7 (8) 34 913 (20) 0 (33) 1 (12) 6 3 15 119 8 20 52 58 51 28 25 16 0 2 (3) (3) (1) 1 1 0 1 (19.5) (80.4) (103.1) (67.9) 261.4 0 0 0 0 0 0 0 0 0 0 0.0 (0.1) 0.1 0 0.0 0 0.2 (0.2) 0 198 131.9 0.1 0.1 130 191.5 0.1 0 315 0 0 90.1 0 0 0
Financing Cash Flow (876) 776 (432) (4,178) (858) (1,543) (210) 4 (232) 30 (213) 10 (262) (597) (1,905) (215) (314) (564) (157) 617 464 (540) 1,242 7,182 1,774 (909) (690) (612) (779) (572) (677) (645) (602) 207 (453) (476) (984) (155) (346) (786) (636) 16 (11) 146 24 (98) (76) 26 2 0 (12.0) (74.8) (145.1) (149.8) 887.1 381.7 5.9 22.4 15.8 2.3 (100.0) 198.2 3.4 (0.7) 5.5 6.6 (97.7) 2.9 (95.7) 10.9 14.6 1.4 92.9 0.7 195.2 132.8 (2) (0.4) 129 191.3 95.1 (0.1) 312.7 (1) (56.7) 6.2 (14.5) 9.9 (12.5)
Cash Position
Net Change in Cash 97 329 (573) (4,659) 625 (994) 361 (225) (921) (209) 339 799 (1,133) (951) (2,791) 136 618 (500) (1,144) 2,153 908 (1,046) (242) 8,411 1,392 60 42 102 490 (250) (10) 292 327 35 (77) (314) 171 (286) (74) (348) 805 159 361 860 (56) (41) (169) (170) 315 74 (128.7) (173.8) 4.3 (166.3) 790.5 521.0 283.7 (57.6) (56.0) 94.1 123.7 152.1 (220.9) 82 27.1 (73.7) (115) 60.3 (116.4) 69.2 (23.7) (74.6) 70.6 (12.2) 115.7 153.6 7.3 (48.4) (35.1) 228.2 (1.8) (96.4) 154.3 (1) (56.7) 6.2 (14.5) 9.9 (12.5)
Cash at Beginning 3,231 2,902 3,475 8,134 7,509 8,503 8,142 8,367 9,288 9,497 9,158 8,359 9,492 10,443 13,234 13,098 12,480 12,980 14,124 11,971 11,063 12,109 12,351 3,940 2,548 2,488 2,446 2,344 1,854 2,104 2,114 1,822 1,495 1,460 1,537 1,851 1,680 1,966 2,040 2,388 1,583 2,269 1,908 1,048 1,824 1,865 2,034 2,204 1,889 1,815 1,944.0 2,117.8 2,113.5 2,279.9 1,489.4 968.3 684.7 580.6 636.6 542.6 418.8 266.7 487.6 405.6 378.5 452.2 567.2 506.9 623.3 554.1 577.8 652.4 581.8 594 478.3 324.7 317.4 365.8 400.9 172.7 174.5 270.9 116.6 0 295.6 0 0 0 411
Cash at End 3,328 3,231 2,902 3,475 8,134 7,509 8,503 8,142 8,367 9,288 9,497 9,158 8,359 9,492 10,443 13,234 13,098 12,480 12,980 14,124 11,971 11,063 12,109 12,351 3,940 2,548 2,488 2,446 2,344 1,854 2,104 2,114 1,822 1,495 1,460 1,537 1,851 1,680 1,966 2,040 2,388 2,428 2,269 1,908 1,768 1,824 1,865 2,034 2,204 1,889 1,815.4 1,944.0 2,117.8 2,113.5 2,279.9 1,489.4 968.3 523.0 580.6 636.6 542.6 418.8 266.7 487.6 405.6 378.5 452.2 567.2 506.9 623.3 554.1 577.8 652.4 581.8 594 478.3 324.7 317.4 365.8 400.9 172.7 174.5 270.9 (1) 238.9 6.2 (14.5) 9.9 398.5
Free Cash Flow 788 (564) (391) (234) 359 16 (414) (523) (696) (293) (234) 483 (346) (785) (845) 916 557 64 (713) 1,910 550 (687) (1,139) 784 (601) 563 716 736 945 446 809 1,093 569 29 341 148 1,162 (5) 359 624 1,167 334 366 463 (80) 57 (93) (196) 313 74 (116.7) (99.0) 149.4 (16.5) (96.6) 139.3 277.8 (80.0) (71.9) 91.8 223.8 (46.2) (224.2) 82.7 21.6 (80.3) (17.3) 57.3 (20.7) 58.3 (38.2) (76) (22.4) (12.8) (79.6) 20.9 9.3 (48.0) (164.1) 36.8 (96.9) (96.4) (158.3) (122.6) 1.3 13.5 (135.3) 42 (51.7)
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 7,249 7,442 6,949 7,244 6,428 6,930 6,870 7,354 6,329 6,823 6,525 7,037 5,706 6,172 6,220 6,728 4,694 5,051 4,679 4,008 2,052 2,013 1,793 1,008 4,234 5,729 5,639 5,909 5,149 5,704 5,575 5,742 4,944 5,274 5,271 5,744 4,883 5,076 5,139 5,384 4,826 4,977 5,318 5,111 4,414 4,628 4,800 5,011 4,166 4,428 4,545 4,643 4,084 4,173 4,309 4,616 3,991 4,108 4,311 4,136 3,103 3,114 3,192 3,168 2,630 2,712 2,666 2,616 2,357 2,734 2,891 2,869 2,530 2,492 2,588 2,583 2,198 2,276 2,342 2,449 2,019 1,988 1,989 1,944 1,663 1,655 1,674 1,716 1,484 1,517 1,515 1,400.5 1,472.8 1,237.6 1,553.8 1,428.6 1,467.4 1,478.8 1,460.7 1,242.6
Gross Profit 728 1,511 1,158 1,358 867 1,228 1,117 1,491 625 727 1,075 1,751 668 1,007 1,214 1,949 580 879 1,395 1,180 662 (647) (923) (907) 588 1,431 1,581 1,736 1,235 1,576 1,537 1,703 1,241 1,440 1,586 1,942 1,294 1,505 1,353 1,895 1,522 1,643 1,803 1,651 1,300 1,245 1,205 1,346 759 976 950 978 584 (3,532) 705 974 525 2,028 2,106 2,037 1,619 252 1,817 1,790 1,406 1,983 1,895 1,926 1,686 1,673 1,855 1,930 1,796 893 1,951 2,002 811 927 996 1,150 778 836 933 904 702 705 762 783 590 647 698 579.9 656 476.1 747.2 647.7 694.0 730.9 732.6 526.4
Operating Income 330 391 35 225 (223) 278 38 398 (393) (404) 117 795 (284) (385) 395 1,158 (151) 195 733 594 199 (1,168) (1,411) (1,127) (110) 665 819 968 505 820 798 972 616 773 845 1,215 606 845 695 1,276 944 1,026 1,225 1,085 780 620 614 775 215 385 390 433 70 91 51 460 22 147 225 207 114 216 355 363 54 167 22 123 (50) 69 86 205 88 127 251 328 84 174 261 402 98 164 248 256 81 119 191 197 46 111 140 87.8 189.0 37.1 290.9 210.2 251.1 300.1 314.6 155.4
Net Income 227 323 54 213 (149) 261 67 367 (231) (252) 193 683 (159) (220) 277 760 (278) 68 446 348 116 (908) (1,157) (915) (94) 514 659 741 387 654 615 733 463 1,888 503 746 351 522 388 820 511 536 584 608 453 190 329 465 152 212 259 224 59 78 16 228 98 152 (140) 161 5 131 205 112 11 115 (16) 54 (91) (56) (120) 321 34 112 162 278 93 57 48 333 61 86 227 159 76 55 119 113 26 66 246 42.4 102.3 63.5 175.6 121.0 154.7 184.3 190.6 73.5
EPS (Diluted) 0.45 0.61 0.10 0.39 -0.26 0.42 0.11 0.58 -0.39 -0.37 0.30 1.07 -0.27 -0.37 0.43 1.20 -0.47 0.11 0.73 0.57 0.19 -1.54 -1.96 -1.63 -0.18 0.98 1.23 1.37 0.70 1.17 1.08 1.27 0.79 3.18 0.84 1.23 0.57 0.84 0.62 1.28 0.79 0.82 0.88 0.90 0.66 0.28 0.48 0.67 0.21 0.30 0.36 0.31 0.08 0.11 0.02 0.30 0.13 0.20 -0.18 0.20 0.01 0.18 0.27 0.15 0.01 0.15 -0.02 0.07 -0.12 -0.08 -0.16 0.44 0.05 0.15 0.22 0.36 0.12 0.07 0.06 0.40 0.07 0.11 0.28 0.20 0.09 0.07 0.15 0.14 0.03 0.08 0.30 0.05 0.13 0.08 0.22 0.15 0.20 0.23 0.24 0.09
Balance Sheet
Cash & Equivalents 2,878 3,231 2,902 3,475 8,134 7,509 8,503 8,142 8,367 9,288 9,497 9,158 8,359 9,492 10,443 13,234 13,098 12,480 12,980 14,124 11,971 11,063 12,109 12,351 3,940 2,548 2,488 2,446 2,344 1,854 2,104 2,114 1,822 1,495 1,460 1,537 1,851 1,680 1,966 2,040 2,388 989 1,110 1,114 946 1,145 1,050 1,768 1,824 1,865 2,204 1,889 1,815.4 1,944.0 1,489.4 968.3 684.7 523.0 580.6 636.6 542.6 418.8 266.7 487.6 405.6 378.5 452.2 567.2 506.9 623.3 554.1 577.8 652.4 581.8 594 478.3 324.7 317.4 365.8 400.9 172.7 174.5 270.9 116.6 240.2 295.6 249 334.6 346.8
Total Assets 29,355 29,061 28,312 28,712 33,212 33,750 34,847 35,563 36,018 36,487 36,980 36,519 35,546 35,369 35,946 38,302 37,262 36,320 37,110 38,206 35,493 34,588 35,605 35,596 26,885 25,895 26,467 26,374 26,459 26,243 26,882 26,465 25,503 25,110 24,249 23,921 23,763 23,286 23,045 22,447 22,241 14,987 14,530 14,269 14,027 14,179 14,524 10,813 10,271 9,693 9,638 9,104 8,954 8,954.3 7,994.9 7,468.7 7,065.9 6,670 6,447.7 6,259.4 5,940.0 5,654 5,317.6 5,282.3 4,968.9 4,716.0 4,586.3 4,568.6 4,339.2 4,246.2 4,142 4,036 3,857.2 3,723.5 3,619.5 3,571.5 3,369.3 3,256.1 3,248.3 3,192.5 3,007.8 2,823.1 2,823.9 2,713.5 2,629.2 2,576 2,389.4 2,348.2 2,271.9
Total Debt 6,396 5,981 5,258 5,341 7,995 8,058 9,095 9,109 9,161 9,200 9,273 9,328 9,376 9,473 10,112 12,001 12,241 12,281 12,815 13,300 12,785 12,199 12,595 11,422 6,349 3,996 4,381 4,525 4,684 3,377 3,446 3,520 3,592 3,668 3,079 3,095 3,066 3,387 3,295 3,354 3,308 3,447 3,475 3,515 3,383 3,610 1,579 1,556 1,577 1,538 1,671 1,679 1,684 1,690.9 1,241.8 863.1 864.8 869.8 871.3 872.0 875.3 879.9 624.3 624.9 628 635.3 632.7 637.8 639.6 749.4 751.7 753.8 757.4 662.6 664.4 667.3 668.7 674.5 684.8 687.4 688.7 592.7 593.6 596.4 597.9 655.2 602.4 604.9 607.4
Stockholders' Equity 6,875 7,981 7,776 8,000 9,365 10,350 10,411 10,465 10,196 10,515 11,054 10,789 10,302 10,687 10,924 11,120 10,417 10,414 10,250 9,688 9,093 8,876 9,769 10,878 9,075 9,832 9,931 9,940 9,791 9,853 10,153 9,997 9,619 10,430 8,800 8,530 8,204 8,441 8,047 7,821 7,496 5,548 5,537 5,466 5,146 4,928 6,269 5,254 5,025 5,052 4,737 4,459 4,421.6 4,322.8 3,949.7 3,821.6 3,642.1 3,451.3 3,210.5 3,009.5 2,813.2 2,835.8 2,801.2 2,673 2,510 2,397.9 2,270.7 2,233.8 2,095.6 2,009.0 1,907.5 1,796.7 1,699.9 1,648.3 1,615 1,553.9 1,466.3 1,427.3 1,382.1 1,312.7 1,251.6 1,238.7 1,215.4 1,156.2 1,097.1 1,054 979.1 934.5 892.6
Cash Flow
Operating Cash Flow 1,418 295 287 401 860 476 113 (23) (104) 425 616 1,416 706 579 234 1,906 1,071 247 (575) 2,005 645 (597) (1,050) 897 (377) 824 1,091 966 1,105 989 1,271 1,631 1,002 562 996 746 1,625 709 856 1,112 1,616 602 668 886 430 417 290 141 638 267 113.9 20.3 293.5 92.6 234.4 345.3 484.2 255.2 231.6 396.0 415.6 219.2 109.4 362.4 310.7 193.8 183.9 293.1 215.3 169.7 126.8 220.6 93.5 169.3 82 222.2 141.7 108.5 49.7 193.8 104.4 78.4 82.1 129.6 122.6 141.5 145.6 47.4 58.2
Capital Expenditure (630) (859) (678) (635) (501) (460) (527) (500) (592) (718) (850) (933) (1,052) (1,364) (1,079) (990) (514) (183) (138) (95) (95) (90) (89) (113) (224) (261) (375) (230) (160) (543) (462) (538) (433) (533) (655) (598) (463) (714) (497) (488) (449) (268) (302) (423) (510) (360) (383) (337) (325) (193) (230.6) (119.3) (144.1) (109.1) (331.0) (206.0) (206.4) (335.1) (303.5) (304.2) (191.8) (265.4) (333.6) (279.7) (289.1) (274.1) (201.2) (235.8) (236) (111.4) (165) (296.6) (115.9) (182.1) (161.6) (201.3) (132.4) (156.5) (213.8) (157) (201.3) (174.7) (240.4) (252.2) (121.3) (128) (280.9) (5.4) (109.9)
Free Cash Flow 788 (564) (391) (234) 359 16 (414) (523) (696) (293) (234) 483 (346) (785) (845) 916 557 64 (713) 1,910 550 (687) (1,139) 784 (601) 563 716 736 945 446 809 1,093 569 29 341 148 1,162 (5) 359 624 1,167 334 366 463 (80) 57 (93) (196) 313 74 (116.7) (99.0) 149.4 (16.5) (96.6) 139.3 277.8 (80.0) (71.9) 91.8 223.8 (46.2) (224.2) 82.7 21.6 (80.3) (17.3) 57.3 (20.7) 58.3 (38.2) (76) (22.4) (12.8) (79.6) 20.9 9.3 (48.0) (164.1) 36.8 (96.9) (96.4) (158.3) (122.6) 1.3 13.5 (135.3) 42 (51.7)