MBIA Inc. logo MBI - MBIA Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 3
HOLD 3
SELL 0
STRONG
SELL
0
| PRICE TARGET: $14.00 DETAILS
HIGH: $14.00
LOW: $14.00
MEDIAN: $14.00
CONSENSUS: $14.00
UPSIDE: 130.64%
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 24 28 15 23 14 37 29 (37) 13 (31) 8 28 2 57 17 36 40 27 56 4 72 103 71 114 (6) 28 173 30 50 (28) 102 12 73 232 32 72 69 (59) 203 115 30 297 92 246 219 215 291 185 572 446 414 73 215 732 265 1,006 383 (1,167) 1,120 98 (1,633) 863.9 (215) 2,056 (1,856.4) 652.7 (620.2) 992.1 1,919.3 (1,588.7) 319.8 3,354.9 (2,942.6) (2,233.3) 431.2 774.9 729.9 695.0 711.1 686.9 615.9 599.9 610.8 537.6 563.6 531.9 474.9 504.7 492.7 679.0 475.5 260.5 278.0 297.2 287.7 260.5 274.3 266.2 262.5 254.4
Cost of Revenue (3) 99 (49) 9 9 14 12 143 19 21 124 29 8 (16) (10) 21 51 119 125 12 100 106 50 139 245 155 (10) 142 (34) (111) 55 63 76 (57) 213 178 101 81 60 87 32 57 50 59 7 64 33 20 60 (353) 107 199 (178) (266) 179 77 110 (284) 202 73 (19) 109.6 (20) (59) 214.4 661.0 238.8 729.3 693.7 1,588.7 982.5 22.3 303.2 2,472.2 38.3 38.4 37.1 155.9 37.2 37.4 36.4 143.4 36.9 38.6 37.5 116.4 37.5 37.1 35.0 (991.7) 32.8 29.0 26.0 26.7 27.1 23.8 24.6 23.0 22.5 17.2
Gross Profit 27 (71) 64 14 5 23 17 (180) (6) (52) (116) (1) (6) 73 27 15 (11) (92) (69) (8) (28) (3) 21 (25) (251) (127) 183 (112) 84 83 47 (51) (3) 289 (181) (106) (32) (140) 143 28 (2) 240 42 187 212 151 258 165 512 799 307 (126) 393 998 86 929 273 (883) 918 25 (1,614) 754.3 (195) 2,115 (2,070.8) (8.3) (858.9) 262.8 1,225.6 (3,177.4) (662.8) 3,332.6 (3,245.7) (4,705.5) 393.0 736.5 692.8 539.1 673.9 649.4 579.5 456.5 573.8 499.1 526.1 415.5 437.4 467.5 457.7 1,670.7 442.7 231.5 252.0 270.5 260.6 236.7 249.7 243.2 240.1 237.3
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 22 28 27 22 23 20 27 25 20 29 17 21 22 22 26 24 35 31 44 35 33 39 41 38 35 39 56 48 50 49 61 73 105 110 77 77 81 164 87 83 82 85 91.7 82 73 67.9 66.6 77.1 80.0 92.5 (95.0) 95.0 66.3 63.5 0 57.3 0 0 (61.7) 0 0 61.7 0 0 0 52.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Expenses 68 (15) 71 70 67 73 68 73 81 86 69 77 77 77 62 51 62 63 54 31 50 51 57 58 62 66 69 75 74 75 71 73 71 0 68 69 57 54 53 50 60 60 59 60 60 61 62 60 59 61 63 33 68 82 66 53 88 104 90 90 64 110.3 79 74 120.7 130.2 130.0 (1,320.1) 147.9 39,262.0 288.8 330.9 390.6 1,400.5 418.5 443.5 415.8 566.4 367.3 346.4 244.5 494.9 353.6 259.2 176.8 494.3 183.7 167.7 166.7 780.1 138.9 76.1 56.5 60.1 66.1 62.1 65.5 65.7 65.9 58.2
Operating Expenses 68 (15) 71 70 67 73 68 73 81 86 69 77 77 77 62 51 62 63 54 53 78 78 79 81 82 93 94 95 103 92 92 95 93 (90) 92 104 88 98 88 83 99 101 97 95 99 117 110 110 108 (227) 136 138 178 159 143 134 252 191 173 172 149 202.0 161 147 188.7 196.8 207.1 (1,240.1) 240.4 39,167 383.8 397.2 454.1 1,400.5 475.8 443.5 415.8 504.7 367.3 346.4 306.2 494.9 353.6 259.2 229.5 494.3 183.7 167.7 166.7 780.1 138.9 76.1 56.5 60.1 66.1 62.1 65.5 65.7 65.9 58.2
Operating Income
Operating Income (41) (56) (7) (56) (62) (50) (51) (253) (87) (138) (185) (78) (83) (4) (35) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (220) 89 (207) (19) (9) (45) (146) (96) (58) (273) (210) (120) (238) 55 (55) (101) 139 (55) 92 113 34 148 55 404 294 171 (264) 215 839 (57) 795 21 (1,074) 745 (147) (1,763) 552.3 (356) 1,968 (2,259.4) (205.1) (1,066.1) 1,502.9 985.2 (1,916.3) (1,046.6) 2,935.4 (3,699.8) (3,133.2) (82.8) 293.0 277.0 585.4 306.6 303.1 273.2 379.8 220.2 239.9 296.6 429.6 253.6 299.8 291.0 580.1 303.8 155.4 195.5 210.4 194.5 174.6 184.2 177.5 174.1 179.1
Interest Expense 47 149 50 49 50 50 53 53 52 54 53 53 51 50 46 43 41 41 45 45 50 51 57 58 62 66 68 75 74 75 74 73 71 69 69 69 65 54 53 53 62 60 59 59 60 61 62 62 64 68 69 72 72 82 82 86 88 92 90 90 90 94.2 97 95 98.0 115.1 110.1 112.5 137.3 209.0 264.2 307.9 390.6 419.7 418.5 382.4 355.1 337.0 306.2 288.9 249.8 229.2 214.9 195.3 176.8 145.0 124.2 110.2 108.8 319.7 86.3 17.5 13.0 12.2 14.2 15.7 13.5 13.4 13.4 13.5
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 6 (8) 43 (7) (12) (50) 2 (200) (35) (84) (132) (25) (32) 46 11 7 (32) (114) (78) (16) (56) (30) (1) (48) (271) (154) 157 (132) 55 66 29 (73) (25) 11 (204) (141) (55) (184) 108 (2) (39) 199 4 151 173 95 210 117 468 362 240 (192) 287 921 25 881 115 (982) 835 (54.9) (1,681) 648.4 (257.1) 2,065.1 (2,159.5) (87.9) (953.1) 1,617.3 1,124.8 (1,704.9) (780.0) 3,245.6 (3,306.7) (3,130.7) 338.3 678.3 634.3 566.6 615.5 595.4 526.2 491.1 436.9 438.6 477.0 433.2 381.4 413.5 403.0 580.7 393.9 176.0 206.3 226.7 214.3 195.4 203.0 193.6 192.7 197.5
EBIT 6 (8) 43 (7) (12) (50) 2 (200) (35) (84) (132) (25) (32) 46 11 7 (32) (114) (78) (16) (56) (30) (1) (48) (271) (154) 157 (132) 55 66 29 (73) (25) 11 (204) (141) (55) (184) 108 (2) (39) 199 4 151 173 95 210 117 468 362 240 (192) 287 921 25 881 109 (982) 835 (57) (1,673) 646.5 (259) 2,063 (2,161.4) (90.0) (955.9) 1,615.4 1,122.5 (1,707.3) (782.4) 3,243.3 (3,309.2) (3,133.2) 335.7 675.4 632.1 585.4 612.8 591.9 523.0 488.2 435.1 435.2 473.5 429.6 377.8 410.0 399.8 580.1 390.1 172.9 208.5 222.6 208.7 190.3 197.7 190.9 187.5 192.6
Income Before Tax (41) (56) (7) (56) (62) (50) (51) (253) (87) (138) (185) (78) (83) (4) (35) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (220) 89 (207) (19) (9) (45) (146) (96) (58) (273) (210) (120) (238) 55 (55) (101) 139 (55) 92 113 34 148 55 404 294 171 (264) 215 839 (57) 795 21 (1,074) 745 (147) (1,763) 552.3 (356) 1,968 (2,259.4) (205.1) (1,066.1) 1,502.9 985.2 (1,916.3) (1,046.6) 2,935.4 (3,699.8) (3,552.9) (82.8) 293.0 277.0 248.4 306.6 303.1 273.2 258.9 220.2 239.9 296.6 284.6 253.6 299.8 291.0 260.4 303.8 155.4 195.5 210.4 194.5 174.6 184.2 177.5 174.1 179.1
Income Tax Expense 0 (4) 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 23 6 0 2 (2) 0 0 2 (21) (6) 1,019 (48) 27 24 (28) (23) 57 (20) 28 44 14 (25) (65) 148 162 39 (86) 51 203 (64) 214 11 (448) 301 (284) (489) 101.5 (143) 673 (779.2) 34.9 (341.5) 604.9 284.5 (756.5) (240.1) 1,235.0 (1,293.1) (1,257.2) (46.2) 81.2 78.4 71.2 90.0 83.1 75.0 76.2 77.5 66.2 83.8 80.0 70.4 84.1 82.4 78.3 86.7 38.2 51.5 54.0 51.5 45.4 48.0 46.8 44.7 46.8
Net Income (40) (51) (8) (56) (62) (48) (56) (255) (86) (134) (185) (75) (86) (52) (34) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (243) 83 (207) (21) (7) (45) (146) (98) (37) (267) (1,229) (72) (265) 31 (27) (78) 82 (35) 64 69 20 173 120 256 132 132 (178) 164 636 7 581 10 (626) 444 137 (1,274) 450.8 (213) 1,295 (1,480.2) (240.1) (724.5) 898.0 700.6 (1,159.8) (806.5) 1,700.4 (2,406.7) (2,295.8) (36.6) 211.8 198.6 181.0 217.9 221.4 199.0 182.7 141.8 173.7 212.8 204.5 183.2 218.4 208.6 182.0 217.9 117.2 144.0 156.4 143.0 116.1 136.2 130.7 129.4 132.3
Per Share Data
EPS (Basic) -0.80 -1.02 -0.16 -1.13 -1.28 -1.00 -1.17 -5.35 -1.84 -2.71 -3.94 -1.53 -1.86 -0.10 -0.68 0.50 -1.48 -3.13 -2.49 -1.23 -2.15 -1.65 -1.11 -1.70 -4.62 -3.21 1.00 -2.02 -0.20 -0.08 -0.50 -1.64 -1.11 -0.42 -2.17 -9.78 -0.56 -2.01 0.23 -0.21 -0.58 0.54 -0.23 0.36 0.37 0.10 0.90 0.61 1.33 0.70 0.68 -0.94 0.84 3.27 0.04 2.99 0.05 -3.24 2.27 0.69 -5.68 2.25 -1.06 6.34 -7.22 -1.17 -3.48 4.30 3.34 -5.56 -3.42 7.14 -12.92 -12.43 -0.30 1.66 1.50 1.37 1.64 1.67 1.50 1.38 1.07 1.30 1.55 1.49 1.30 1.52 1.45 1.27 1.52 0.81 0.98 1.06 0.97 0.53 0.92 0.89 0.88 0.89
EPS (Diluted) -0.80 -1.02 -0.16 -1.13 -1.28 -1.00 -1.17 -5.35 -1.84 -2.71 -3.94 -1.53 -1.86 -0.10 -0.68 0.50 -1.47 -3.13 -2.48 -1.23 -2.15 -1.65 -1.10 -1.69 -4.62 -3.21 1.00 -2.02 -0.20 -0.08 -0.50 -1.64 -1.11 -0.42 -2.17 -9.78 -0.55 -2.01 0.23 -0.20 -0.57 0.54 -0.23 0.36 0.37 0.10 0.80 0.45 1.32 0.70 0.52 -0.94 0.84 3.27 0.04 2.98 0.05 -3.24 2.26 0.68 -5.68 2.25 -1.06 6.32 -7.22 -1.17 -3.48 4.30 3.34 -5.56 -3.42 7.14 -12.92 -18.34 -0.30 1.61 1.46 1.37 1.59 1.62 1.46 1.38 1.04 1.27 1.52 1.49 1.27 1.49 1.42 1.27 1.51 0.81 0.97 1.06 0.96 0.78 0.92 0.88 0.87 0.89
Shares Outstanding 49.8 49.3 49.6 49.5 48.4 48.1 47.7 47.5 46.8 50.9 47.0 49.0 49.9 49.9 49.9 49.8 49.3 49.6 49.4 49.5 49.3 49.2 52.3 62.3 72.1 75.7 78.7 84.0 85.2 88.8 89.5 89.0 88.1 88.1 123.0 125.7 129.7 131.9 131.6 129.8 135.5 147.1 152.2 172.1 181.7 187.2 187.1 189.2 189.0 189.0 188.9 189.2 189.1 194.5 193.9 193.9 193.5 193.5 195.6 199.3 200.0 200.0 200.5 204.4 204.9 204.9 208.2 208.1 208.5 208.5 235.7 238.2 186.3 125.2 123.7 127.4 132.0 132.0 132.8 132.8 132.7 132.6 132.6 133.9 137.3 137.3 141.4 143.5 143.6 143.5 143.1 144.0 147.6 148.1 148.2 148.0 147.9 147.3 147.5 148.7
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 72 71 69 167 63 87 74 197 137 107 74 215 83 66 111 207 151 160 112 347 121 167 111 454 217 83 81 478 163 280 179 197 141 146 136 164 152 187 216 605 332 1,495.2 1,228.5 803.2 899.6 1,077.6 365.8 274.2 265.6 182.4 127.0 288.2 83.2 175.7 120.1 71.6 95.3 94.0 80.7 70.2 56.5 93.6 74 66 35 20.8 35 44 29 23.2 8 34 21 7.4 9 12 6 23.3 13 7 10 7.9 12 12 0 0 0 0 0
Short-Term Investments 1,423 1,451 1,505 1,317 1,417 1,417 1,465 1,420 442 0 1,999 2,099 2,325 2,165 2,565 2,646 3,118 2,531 2,460 2,572 2,845 2,539 2,721 2,725 2,965 3,243 3,268 3,587 3,865 3,806 3,944 4,093 4,205 4,301 4,686 4,944 5,099 5,246 6,051 5,966 6,141 2,648.4 2,615.7 3,042.9 4,479.5 4,315.7 3,552.8 2,381.6 1,132.7 1,333.2 1,104.6 990.8 899.9 694.5 448.1 499.9 495.3 496.2 482.9 432.7 408.3 420.1 0 0 0 518.2 0 0 0 261.8 0 0 0 205.2 0 0 0 212.1 0 0 0 138.9 0 0 0 0 0 0 0
Net Receivables 167 164 164 314 324 318 340 283 324 329 328 255 255 297 440 614 543 1,474 1,722 1,767 1,837 1,893 2,027 1,775 1,847 1,943 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,722.4 2,229.8 2,584.6 2,499.3 2,342.0 259.8 347.8 316.9 81.5 411.0 98.2 135.6 149.1 450.5 216.5 72.7 45.2 90.6 230.5 149.8 55.7 0 0 0 49.5 0 0 0 13.4 0 0 0 1.0 0 0 0 6.1 0 0 0 0.9 0 0 0 0 0 0 0
Inventory 0 0 0 0 0 0 0 0 (1,316) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Assets 0 0 0 0 0 (1,822) (1,879) (1,900) 276 548 (2,401) (2,569) (2,663) (2,528) 0 0 (3,812) (4,165) (4,294) (4,686) (4,803) (4,599) (4,859) (4,954) (5,029) (5,269) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 174,676.6 14,867.3 13,735.1 13,242.2 13,021.2 12,329.3 11,745.7 11,584.6 11,455.8 11,484.5 11,531.3 11,560.7 11,006.0 11,422.5 10,885.8 10,788.3 9,331.8 9,196.3 8,699 8,305 8,192.4 7,783.3 7,706.2 7,247.8 6,873.4 6,591.5 6,331.7 5,965.9 5,152.3 5,095.5 4,867.1 0 0 0 0 0
Total Current Assets 1,662 1,686 1,738 1,798 1,804 0 0 0 903 984 0 0 0 0 3,116 3,467 0 0 0 0 0 0 0 0 0 0 2,916 3,664 3,590 123 3,700 3,794 3,877 293 4,350 4,319 4,813 291 5,486 5,902 5,495 9,631,551 9,516,988 3,491,451 10,696,791 11,142,716 31,682,176 18,172.1 18,447.7 1,158.3 8,529,454 8,416,258 12.5 175,696 15,886.0 14,523.1 13,905.5 13,656.5 12,983.5 12,479.1 12,199.2 12,025.1 11,558.5 11,597.3 11,595.7 11,594.4 11,457.5 10,929.8 10,817.3 9,630.2 9,204.3 8,733 8,326 8,406.0 7,792.3 7,718.2 7,253.8 7,114.9 6,604.5 6,338.7 5,975.9 5,300.1 5,107.5 4,879.1 0 0 0 0 0
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 0 15 15 0 0 0 0 17 18 0 0 0 0 0 0 0 0 0 0 22 22 23 0 0 0 0 0 0 0 (112) 0 (137) (147) (158) 74.6 75.3 76.8 103.9 104.6 98.6 117.7 119.4 123.1 124.9 126.0 128.4 129.5 128.3 128.8 130.8 133.5 132.0 131.5 129.7 128.7 104.6 92.5 85.6 81.5 73.6 70.5 61.9 60.2 57.5 56.9 52.8 50.9 46.9 47.1 46.3 46.0 45.7 46 45.3 45.1 44 44.3 44.4 44.1 43.6 44.4 42.4
Goodwill 0 0 0 0 0 0 0 0 0 1,047 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 31.4 31.4 31.4 76.9 0 79.4 79.4 79.4 90.0 90.0 90.0 90.0 90.0 99.4 101.0 102.7 104.3 105.0 106.7 108.3 110.0 0 0 0 120.7 0 0 0 120.3 0 0 0 105.1 0 0 0 106.6 0 0 0 111.3 0 0 0 0 0 0 0
Intangible Assets 23 24 24 25 26 0 0 0 30 31 0 0 0 0 38 39 0 0 0 0 0 0 0 0 0 0 63 65 69 74 78 87 92 95 96 104 112 118 137 147 158 0 0 0 0 76.9 0 0 0 79.4 0 0 0 0 0 0 0 0 0 0 0 0 111.7 119.6 121.5 120.7 135.5 122.8 127.1 121.6 122 116.4 118 105.1 102.8 104 105.3 0 107.9 109.2 110.5 0 112.5 113.8 115 116.3 117.5 118.8 120.1
Long-Term Investments 257 258 255 263 253 1,654 1,688 1,634 1,825 362 2,367 2,121 2,325 2,723 3,121 3,029 3,527 2,849 2,769 2,858 3,128 2,812 3,584 3,556 3,756 4,425 4,463 5,328 5,847 5,075 5,228 5,377 5,499 5,573 5,929 6,229 6,385 6,537 7,284 7,205 8,043 21,330.5 21,667.0 15,794.9 17,119.9 17,285.2 34,869.1 20,279.5 19,314.8 18,724.2 9,507.0 9,118.9 8,993.6 8,898.6 7,758.9 7,503.9 7,414.9 7,236.3 6,710.6 6,459.8 6,416.8 6,204.0 0 0 0 6,402.2 0 0 0 5,129.1 0 0 0 4,354.9 0 0 0 3,864.7 0 0 0 3,190.8 0 0 0 0 0 0 0
Other Non-Current Assets 37 45 43 48 49 (1,654) (1,688) (1,634) (279) 154 (2,367) (2,121) (2,325) (2,723) (3,121) (3,029) (3,527) (2,849) (2,769) (2,858) (3,128) (2,812) (3,584) (3,556) (3,756) (4,425) (4,463) (5,328) (5,847) (2,251) (78) (87) (92) (2,438) (96) (104) (6,385) (906) (7,284) (7,205) (8,043) 133,257.4 164,620.3 92,301.9 467,697.2 181,860.2 352,077.9 (19,959.0) (19,040.3) (18,724.2) 574,210.0 260,727.1 13,968.3 (166,637.7) (7,758.9) (7,503.9) (7,414.9) (7,236.3) (6,710.6) (6,459.8) (6,416.8) (6,204.0) 0 0 0 (6,402.2) 0 0 0 (5,129.1) 0 0 0 (4,354.9) 0 0 0 (3,864.7) 0 0 0 (3,190.8) 0 0 (159.4) (160.4) (161.1) (163.2) (162.5)
Total Non-Current Assets 317 327 322 336 328 0 0 0 1,561 1,753 0 0 0 0 3,121 3,029 0 0 0 0 0 0 0 0 0 0 4,463 5,328 5,847 2,898 5,228 5,377 5,499 3,230 5,929 6,229 1,019 5,749 963 966 939 996,008 1,797,948 108,205 1,759,819 2,262,801 619,179 941.7 1,078.6 213.1 1,173,279 754,894 13,968.3 (156,982.8) 227.7 229.8 233.5 237.8 237.0 238.1 238.1 238.8 216.3 212.1 207.1 202.1 209.1 193.3 189 180.6 179.5 173.3 170.8 156.1 149.7 151.1 151.6 152.6 153.6 155.2 155.8 156.3 156.5 158.1 0 0 0 0 0
Total Assets 1,979 2,013 2,060 2,134 2,132 2,168 2,230 2,304 2,464 2,737 2,990 3,257 3,317 3,375 4,015 4,067 4,443 4,696 4,816 5,252 5,375 5,751 6,551 6,613 6,632 7,284 7,606 8,647 8,778 8,076 8,361 8,699 8,893 9,095 9,544 9,767 11,017 11,137 11,787 12,064 12,751 33,464.2 34,532.9 25,684.7 27,296.5 27,907.3 45,329.0 29,907.5 30,802.0 30,267.7 21,945.4 19,300 18,852.1 18,713.2 16,113.7 14,752.9 14,139.0 13,894.3 13,220.5 12,717.2 12,437.3 12,263.9 11,774.8 11,809.4 11,802.8 11,796.6 11,666.6 11,123.1 11,006.3 9,810.8 9,383.8 8,906.3 8,496.8 8,562.0 7,942 7,869.3 7,405.4 7,267.4 6,758.1 6,493.9 6,131.7 5,456.4 5,264 5,037.2 4,363.4 4,106.3 3,574.3 3,391.1 3,203.4
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 324 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 0 194.3 194.3 239.2 297.2 327.9 520.2 647.3 284.8 47.1 380.2 119.5 58.4 252.7 0 0 127.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 210.0 0 0 0 0 0 0 0
Short-Term Debt 0 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 82.1 114.9 18.1 0 0 861.7 58.7 58.7 57.3 13.6 489.7 0 626.3 1,035.1 1,072.0 1,100.3 144.2 1,055.2 1,131.4 1,152.0 1,097.7 0 0 0 897.7 0 20 20 20 20 60 40 29.1 42.4 38.6 0 633.8 23 23 0 0 0 0 0 0 0 0 0
Deferred Revenue 166 172 178 186 192 0 0 0 224 (100) 0 0 0 0 287 297 0 0 0 0 0 0 0 0 0 0 499 520 544 0 609 678 712 0 808 861 913 1,003 1,344 1,418 1,510 10.3 10.6 11.1 86.5 42.8 3,117,699 3,151.4 3,037.8 3,079.9 2,920,240 2,828,100 76.9 2,635.9 0 0 0 0 0 0 0 0 0 0 0 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 437 454 454 536 527 0 0 0 222 460 0 0 0 (1,222) (287) (297) 0 (1,098) 0 0 0 (991) 0 0 0 (877) (499) (520) (544) 0 (609) (678) (712) 0 (808) (861) (913) (1,509) (1,344) (1,418) (1,510) (321.3) (409.9) (284.1) (420.3) (374.5) (3,119,092.2) (3,864.0) (3,452.3) (47.1) (2,920,680.6) (2,828,793.4) (76.1) (3,515.0) (1,588.9) (1,480.1) (1,265.8) (152.1) (1,523.0) (1,431.5) (1,244.8) (1,200.3) 0 0 0 (993.3) 0 (20) (20) (64.0) (20) (60) (40) (81.1) (42.4) (38.6) 0 (644.5) (23) (23) 0 (210.0) 0 0 0 0 0 0 0
Total Current Liabilities 603 626 632 722 719 0 0 0 447 465 0 0 0 0 287 297 0 0 0 0 0 0 0 0 0 0 499 520 544 138 609 678 712 237 808 861 913 1,699 1,344 1,418 1,510 4,507,518 5,097,402 1,318,605 5,401,050 5,618,402 3,142,350 3,216.7 3,167.5 3,151.7 2,980,632 2,912,303 76.9 12,117 10,542 9,496 8,932 8,876 8,738 8,411 8,182 8,062 7,544 7,573 7,418 7,345 7,254 7,066 7,089 6,534 6,003 5,910 5,652 5,708 5,206 5,226 4,789 4,659 4,369 4,188 3,961 3,453 3,251 3,047 0 0 0 0 0
Non-Current Liabilities
Long-Term Debt 3,382 3,347 3,348 3,300 3,260 3,224 3,183 3,132 3,302 3,163 3,122 3,185 3,130 3,103 3,052 3,069 3,218 3,212 3,192 3,371 3,407 3,562 4,191 4,135 4,084 4,447 4,501 5,334 5,563 577 4,916 5,165 5,204 5,175 5,343 5,403 5,381 576 5,230 5,329 6,061 15,381.1 15,989.7 8,121.4 9,289.7 8,925.4 16,237.1 11,166.3 10,099.5 1,021.8 8,637.4 7,754.1 7,699.7 1,115.3 813.0 795.3 802.7 795.1 589.3 589.3 589.3 689.2 689.1 689.1 689 689.0 639 488.9 488.9 473.9 473.8 374.1 374 374.0 374 3,420.6 3,137.9 373.9 298.9 298.8 321.8 298.8 298.8 298.7 298.7 298.7 298.7 298.6 298.6
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 232.1 424.2 605.4 552.7 589.3 484.8 471.5 536.8 344.0 251.2 289.1 252.5 135.8 83.1 76.3 32.8 0 0 0 343.9 0 0 0 286.4 0 0 0 206.5 0 0 0 246.7 0 0 0 76.8 0 0 0 0 0 0 0
Other Non-Current Liabilities 272 270 247 277 266 (3,224) (3,183) (3,132) 909 1,090 (3,122) (3,185) (3,130) (3,103) 1,525 1,436 (3,218) (3,212) (3,192) (3,371) (3,407) (3,562) (4,191) (4,135) (4,084) (4,447) 1,558 1,740 1,470 1,187 1,716 1,741 1,717 (3,302) 1,673 1,547 1,497 538 1,543 1,659 1,541 (15,381.1) (15,989.7) (8,121.4) (9,289.7) (8,925.4) (16,483.6) (11,166.3) (10,099.5) 19,835.2 (9,249.9) (8,262.9) 710.8 (1,115.3) (1,185.8) (281.5) (1,123.9) (1,080.3) (759.2) (119.5) (702.2) (758.5) (0.1) (0.1) (689) (1,075.9) (639) (488.9) (488.9) (760.3) (473.8) (0.1) (374) (206.5) (374) (3,420.6) (2,763.9) (246.6) (298.9) (298.8) (321.8) (375.6) (298.8) (298.7) (298.7) (298.7) (298.7) (298.6) (298.6)
Total Non-Current Liabilities 3,654 3,617 3,595 3,577 3,526 0 0 0 4,211 4,253 0 0 0 0 4,577 4,505 0 0 0 0 0 0 0 0 0 0 6,059 7,074 7,033 1,764 6,632 6,906 6,921 1,873 7,016 6,950 6,878 1,114 6,773 6,988 7,602 26,291,304 28,066,588 21,759,218 19,113,479 20,649,324 35,655,301 20,392.4 21,081.0 20,857.0 12,892,112 10,723,134 8,410.5 1,115 813 795 803 795 589 589 589 689 689 689 689 689 639 489 489 489 474 374 374 374 374 374 374 374 299 299 299 299 299 299 298.7 298.7 298.7 298.6 298.6
Total Liabilities 4,257 4,243 4,227 4,299 4,245 4,244 4,218 4,289 4,187 4,384 4,218 4,245 4,216 4,251 4,864 4,802 4,995 4,996 4,973 5,275 5,403 5,602 6,308 6,253 6,135 6,445 6,558 7,594 7,577 6,944 7,241 7,584 7,633 7,670 7,824 7,811 7,791 7,898 8,117 8,406 9,112 30,798.8 33,164.0 23,077.8 24,514.5 26,267.7 38,797.7 23,609.1 24,248.6 24,008.7 15,872.7 13,635.4 13,358.8 13,231.5 11,354.8 10,291.0 9,734.8 9,670.9 9,326.7 9,000.4 8,770.6 8,750.8 8,233 8,262.2 8,106.8 8,004.3 7,892.8 7,554.6 7,578.4 6,762.5 6,476.6 6,284.2 6,026.1 6,082.3 5,579.8 5,599.9 5,163.4 5,033.2 4,667.8 4,486.9 4,259.8 3,751.7 3,549.8 3,346.3 2,683.9 2,509.9 2,015.8 1,884.9 1,753.1
Stockholders' Equity
Common Stock 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 283 284 284 284 284 284 284 284 284 284 284 284 284 284 284 283 274.8 275.1 274.8 274.9 274.8 160.2 155.0 154.6 153.6 153.1 152.9 152.6 152.5 151.8 151.7 151.5 100.8 100.5 100.4 100.2 100.1 0 0 0 99.6 0 0 0 89.5 0 0 0 43.3 0 0 0 42.1 0 0 0 42.1 0 0 0 0 0 0 0
Retained Earnings (1,808) (1,768) (1,717) (1,709) (1,653) (1,591) (1,540) (1,484) (1,230) (1,144) (1,006) (820) (746) (653) (601) (567) (531) (458) (303) (180) (119) (13) 68 126 232 607 850 779 949 966 973 1,018 1,164 1,095 1,132 1,399 2,628 2,700 2,965 2,933 2,960 1,886.1 590.8 2,393.3 3,361.5 2,381.2 6,640.1 4,948.9 4,766.4 4,593.5 4,278.7 4,089.6 3,895.1 3,802.7 3,281.4 3,149.0 3,028.5 2,934.6 2,818.5 2,707.9 2,598.5 2,486.5 2,380 2,272.5 2,235.7 2,246.2 2,162.8 2,079.6 1,982.5 1,825.3 1,745.1 1,666 1,593.5 1,519.0 1,454 1,387 1,332.1 1,261.1 1,212.6 1,160.5 1,108.9 1,057.1 1,005.3 953.9 899.9 844.9 793.1 744.2 689.2
Accumulated Other Comprehensive Income (103) (95) (89) (96) (99) (128) (88) (137) (131) (139) (263) (213) (221) (283) (314) (231) (82) 100 90 103 39 115 130 129 91 (2) (43) (4) (74) (156) (206) (255) (241) (19) 15 (39) (31) (128) 35 58 5 (356.3) (376.1) (940.9) (1,741.2) (1,909.6) 54.6 351.8 732.1 632.6 764.0 550.7 541.2 605.6 255.1 91.1 163.1 85.7 0 0 0 (224.5) 0 0 0 288.9 0 0 0 231.5 (7.7) (0.8) (5.9) 115.4 (1.2) (1) 0.5 2.8 2.6 3.6 5 0.5 0.8 0.2 (0.6) (1.2) (0.7) 0 (0.4)
Total Stockholders' Equity (2,283) (2,237) (2,180) (2,178) (2,126) (2,089) (2,001) (1,994) (1,733) (1,657) (1,239) (1,000) (912) (882) (863) (748) (565) (313) (170) (36) (41) 136 230 347 484 826 1,035 1,040 1,188 1,119 1,108 1,103 1,248 1,413 1,708 1,944 3,214 3,227 3,658 3,646 3,627 2,665.4 1,368.9 2,606.9 2,781.9 1,639.5 6,531.4 6,298.4 6,553.4 6,259.0 6,072.7 5,664.6 5,493.4 5,481.7 4,759.0 4,461.8 4,404.3 4,223.4 3,893.8 3,716.8 3,666.7 3,513.1 3,541.8 3,547.2 3,696 3,792.2 3,773.8 3,568.5 3,427.9 3,048.3 2,907.2 2,622.1 2,470.7 2,479.7 2,362.2 2,269.4 2,242 2,234.3 2,090.3 2,007 1,871.9 1,704.7 1,714.2 1,690.9 1,679.5 1,596.4 1,558.5 1,506.2 1,450.3
Total Liabilities & Equity 1,979 2,013 2,060 2,134 2,132 2,168 2,230 2,304 2,464 2,737 2,990 3,257 3,317 3,375 4,015 4,067 4,443 4,696 4,816 5,252 5,375 5,751 6,551 6,613 6,632 7,284 7,606 8,647 8,778 8,076 8,361 8,699 8,893 9,095 9,544 9,767 11,017 11,137 11,787 12,064 12,751 33,464.2 34,532.9 25,684.7 27,296.5 27,907.3 45,329.0 29,907.5 30,802.0 30,267.7 21,945.4 19,300 18,852.1 18,713.2 16,113.7 14,752.9 14,139.0 13,894.3 13,220.5 12,717.2 12,437.3 12,263.9 11,774.8 11,809.4 11,802.8 11,796.6 11,666.6 11,123.1 11,006.3 9,810.8 9,383.8 8,906.3 8,496.8 8,562.0 7,942 7,869.3 7,405.4 7,267.4 6,758.1 6,493.9 6,131.7 5,456.4 5,264 5,037.2 4,363.4 4,106.3 3,574.3 3,391.1 3,203.4
Debt Metrics
Total Debt 3,382 3,347 3,348 3,300 3,260 3,224 3,183 3,132 3,317 3,318 3,122 3,185 3,130 3,103 3,052 3,069 3,218 3,212 3,192 3,371 3,407 3,562 4,191 4,135 4,084 4,447 4,501 5,334 5,563 4,715 4,916 5,165 5,204 4,551 5,343 5,403 5,381 5,122 5,230 5,329 6,061 15,463.2 16,104.6 8,131.1 9,289.7 8,925.4 17,098.8 11,225.1 10,158.2 9,919.3 8,651.0 8,243.7 8,263.6 1,741.6 1,848.1 1,867.3 1,902.9 1,907.1 1,644.4 1,720.7 1,741.2 1,786.9 689.1 689.1 689 1,586.7 639 508.9 508.9 1,670.9 493.8 434.1 414 1,371.8 416.4 3,459.2 3,137.9 1,007.7 321.9 321.8 321.8 298.8 298.8 298.7 298.7 298.7 298.7 298.6 298.6
Net Debt 3,310 3,276 3,279 3,133 3,197 3,137 3,109 2,935 3,180 3,211 3,048 2,970 3,047 3,037 2,941 2,862 3,067 3,052 3,080 3,024 3,286 3,395 4,080 3,681 3,867 4,364 4,420 4,856 5,400 4,435 4,737 4,968 5,063 4,405 5,207 5,239 5,229 4,935 5,014 4,724 5,729 13,968.0 14,876.1 7,327.9 8,390.1 7,847.8 16,733.0 10,950.9 9,892.6 9,736.8 8,524.0 7,955.6 8,180.4 1,565.9 1,728.0 1,795.7 1,807.7 1,813.2 1,563.7 1,650.5 1,684.8 1,693.3 615.1 623.1 654 1,566.0 604 464.9 479.9 1,647.7 485.8 400.1 393 1,364.4 407.4 3,447.2 3,131.9 984.4 308.9 314.8 311.8 290.9 286.8 286.7 298.7 298.7 298.7 298.6 298.6
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 (42) (56) (7) (56) (62) (50) (56) (253) (87) (138) (185) (78) (83) (6) (35) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (243) 71 (170) (17) (7) (45) (146) (98) (37) (267) (1,229) (72) (265) 32 (27) (78) 141.3 187.6 200.5 214.4 207.6 182.0 190.4 217.9 223.3 117.2 164.1 143.6 154.2 156.4 154.5 143.0 136.2 130.7 129.4 132.3 126.9 127.4 56.8 9.4 103.3 112.9 116.2 100.3 97.7 96.5 89.1 90.9 81.5 83.3 79.8 77.6 68.3 69.8 67.3 66 64.5 65 65 65.7 62.7 59.9 63.8 59.7
Depreciation & Amortization 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.4 3.4 3.6 3.5 3.2 0.6 3.5 3.8 3.6 3.1 3.8 3.5 3.6 4.0 1.9 5.6 5.4 2.7 5.2 4.9 22.0 (2) (0.9) (0.7) 21.6 (1) (1.1) (2.3) 18.3 (3) (1.5) (2) 19.0 (4.8) (2.6) (2.2) 16.0 (10.6) 2 1.8 2.1 2 2.1 2 2.1 1.8 1.6 1.8
Stock-Based Compensation 0 0 0 0 0 0 0 0 0 18 0 0 0 0 0 0 0 12 0 0 0 11 0 0 0 0 0 0 0 6 0 0 0 10 0 0 0 16 0 0 0 0 0 4.9 0 5.0 26.4 0 0 6,710 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 4 61 86 50 5 71 (79) 179 30 71 38 (1) 8 (553) (83) (1) 347 319 (66) 46 656 178 (221) 147 167 231 (325) 179 (77) (86) (164) 68 (13) 255 (32) 207 (359) 44 (202) 65 19 8.3 (114.7) 69.0 (47.3) 63.4 (329.5) 399.5 15.0 (8.4) 46.2 71.1 (3.1) (11.7) 39.0 (88.9) 43.5 92.6 (14.8) (92.8) 11.8 (63.1) (14.8) (23.5) 334.1 276.6 27.3 63.4 23.7 (122.7) 165 70 21.6 10.7 16 43.5 51.3 (32.9) 23.7 26.9 9.5 (21.3) 13.7 19.5 25.6 25.5 53.9 73.4 33.5
Other Non-Cash Items 5 (15) 11 7 14 (18) (4) 64 27 47 32 37 39 1 26 (4) (1) (24) 3 31 (21) (110) (20) (48) 84 17 (116) 41 28 98 12 53 9 (154) 75 34 9 180 (42) 16 121 75.4 47.6 (15.3) (34.8) (37.9) 324.6 (313.8) (52.8) (6,661.8) 168.7 39.5 (51.6) 10.9 (3.7) 166.4 (78.6) (63.2) 66.0 46.9 28.7 41.3 64.5 48.5 (216.8) (110.8) 24.5 (53.2) (16.6) 154.1 (128.1) (37.6) (19.2) 49.5 (29.1) 12 (27.4) 31.9 (87.9) 85.5 20.9 50.4 (7.6) 8.3 (0.3) 9.7 (10.9) (2.4) 27.3
Operating Cash Flow (33) (10) 90 1 (43) 3 (139) (10) (30) (2) (115) (42) (36) (558) (92) (41) 273 152 (186) 16 529 (2) (299) (7) (82) 47 (358) 13 (70) 4 (197) (25) (101) 43 (233) 31 (471) (13) (193) 25 39 207.9 138.5 274.9 164.6 249.7 208.2 306.2 186.4 278.0 309.4 302.1 102.6 159.1 184.4 237.3 110.9 173.3 190.8 101.3 174.9 154.2 173.5 36.8 78.8 275.0 165.9 133 108.1 126.1 135.6 123.6 96.8 139.8 67.7 135.4 103.5 67.0 (1.9) 184 102 101.7 78.4 100.3 96 103.8 117.3 138.4 111.4
Investing Activities
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1) 0 0 0 0 0 0 0 0 0 57 7 241 0 40 0 75 (1) 0 70 74 (1) 65 56 (2.1) (1.4) (2.1) (2.1) (2.5) (4.1) (2.9) (2.6) (1.5) (3.1) (1.7) (3.2) (7.5) (3.1) 0.3 (1.9) (5.2) (1.4) (5.3) (4.4) (27.4) (15.3) (9.4) (6.6) (9.9) (4.6) (5.2) (3.2) (5.8) (1.5) (4.3) (2.1) (5.1) (0.9) (1.8) (1.4) (1.4) (0.7) (1.7) (1.1) (1.9) (0.5) (0.7) (1) (1.3) 0.1 (2.9) (2.7)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10 0 0 0 0 0 0 0 0 0 0 0 0 (2) 72 7 0 (7) 0 (18) 0 0 18 (1) 0 (8) 9 3.5 1.4 2.1 4.3 2.5 5.1 2.3 3.2 1.5 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 0 0 0 0 0 0 0 0 0
Purchases of Investments (50) (95) (183) (39) (82) (73) 22 (77) (100) (160) (150) (72) (285) 170 (508) (358) (471) 0 (152) (213) (703) 0 (383) (384) (275) (403) (374) (698) (816) (628) (572) (382) (872) (729) (489) (393) (463) (660) (1,022) (702) (476) (4,267.9) (4,611.7) (3,624.9) (4,804.7) (5,996.5) (7,094.1) (6,566.6) (7,220.4) (6,970.8) (5,560.2) (3,672.1) (4,855.3) (5,883.6) (7,216.0) (5,961.0) (6,984.4) (3,606.7) (4,875.6) (2,342.8) (2,128.8) (2,659.5) (2,087) (2,326.8) (2,461.8) (1,663.1) (1,059.1) (1,193.5) (1,168.8) (1,043.2) (1,069.8) (834.8) (605) (857.2) (840) (882.8) (816.5) (802.7) (822) (710.4) (1,058.1) (476.4) (543.9) (829.5) (802.9) (715.1) (250.1) (242.5) (248.3)
Sales/Maturities of Investments 84 153 9 145 113 77 84 197 233 627 152 313 353 397 560 598 215 0 253 501 333 0 402 685 751 489 1,009 1,132 1,039 604 701 551 802 1,188 560 887 515 959 1,052 846 2,294 3,911.8 3,818.1 2,904.6 5,424.9 6,080.3 6,635.0 5,500.8 5,039.9 6,812.6 5,144.2 2,600.6 4,274.0 6,048.9 6,567.3 5,096.7 6,265.9 2,970.1 4,662.0 2,296.0 1,943.8 2,010.8 1,876.7 2,009.9 2,333.4 1,230.5 846.8 1,148.7 842.1 857.0 778.1 710.9 581.3 479.7 825.8 465.6 525.7 429.8 553.4 547.3 394.6 384.6 233 176.9 533.8 181 82.5 118.6 155.7
Other Investing Activities 3 1 2 0 1 1 (77) 0 0 (7) (9) 2 3 1 5 2 2 (97) 46 20 (48) 770 8 30 134 (23) (114) 66 (174) 146 356 (42) 261 (140) 298 (348) 171 (184) (48) 239 (69) (2.1) (1.4) (2.1) (2.1) (2.5) (4.1) (1.7) (2.6) (1.5) 0.2 0 0 0 0 0 0 (25.1) 19.7 5.3 8.4 7.7 5.7 0.3 (2.5) 12.6 (14.5) 2.3 (8.5) 1.6 (0.7) (0.9) (15.5) 0.1 (0.1) (0.1) 0.1 (0.0) (0.1) 0.2 (0.1) 0.1 (0.2) 0.1 0 (0.1) 0.1 (0.1) 0.1
Investing Cash Flow 37 59 (172) 106 32 5 29 120 133 460 (7) 243 71 568 67 242 (254) (98) 147 308 (418) 770 27 331 610 63 521 555 128 370 485 160 191 376 369 146 311 188 (18) 440 1,814 (356.8) (795) (722.4) 620.4 81.4 (462.3) (1,068.0) (2,182.6) (159.7) (418.9) (1,073.2) (584.4) 157.7 (651.8) (864.0) (720.4) (666.8) (195.3) (46.7) (181.1) (668.5) (219.9) (326) (137.5) (429.9) (231.4) (47.7) (338.4) (190.4) (293.9) (129.1) (41.3) (382.5) (15.2) (419.1) (292.1) (374.3) (269.4) (164.6) (664.7) (93.6) (311.6) (653.2) (270.1) (535.5) (167.4) (126.9) (95.2)
Financing Activities
Net Debt Issuance (2) (47) (1) (3) (6) 7 (1) (48) (73) 49 (20) (48) (20) (13) (58) (143) (28) (6) (198) (96) (156) (721) (4) (4) (323) (94) (521) (189) (165) (243) (308) (61) (75) (161) (128) (90) 157 (116) (172) (147) (1,939) 106.7 1,541.0 865.4 (553.4) (224.9) 327.6 814.8 1,866.8 155.4 (793.8) 664.1 423.6 (66.3) 87.6 246.7 110.8 366.2 (123.4) (13.8) 86.3 (458.5) 547.4 0 (35.1) 98.9 (61.3) 102.3 (61) 232.2 (40) 59.3 (28.4) (74.3) 64.8 (105.7) 126.3 (775.1) 285.8 (12.6) 576.2 (1,009) (63.8) 875.8 197 444.9 0 0 0
Stock Repurchased (1) 0 0 0 (7) 0 0 (2) (2) (3) (7) (24) (4) 0 (1) 0 (2) 0 0 0 (1) 0 (66) (72) (62) (10) (38) (48) (10) (29) 0 0 (15) (232) (19) (48) (31) 108 0 (11) (98) (6.6) (145.4) (212.8) (71.0) (20.4) (23.3) (6.8) (6.1) (46.3) (36.0) (77.0) (41.2) (54.7) (4.1) (4.2) (0.7) (0.2) (6.2) (40.6) (30.9) (7.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (5.5) 0 0 (8.9) 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 (409) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (112) 0 0 0 0 0 0 0 0 0 0 0 (37.9) (38.3) (33.5) (34.7) (28.8) (28.8) (28.8) (28.8) (24.6) (24.9) (25.0) (25.1) (22.1) (22.3) (22.2) (20.2) (20.0) (20.2) (20.1) (20.4) (20.0) (19.9) (20) (19.9) (19.9) (28.9) (19.1) (17.8) (17.4) (20.7) (16.1) (16.8) (16.4) (14.8) (14.8) (14.5) (14.5) (12.9) (12.9) (12.9) (12.9) (10.9) (10.9) (10.8) (10.9) (8.8) (8.8) (8.8)
Other Financing Activities 0 0 (15) 0 0 (6) (13) 0 2 (62) (2) 4 4 (43) 2 0 1 0 2 (2) 0 8 (1) (11) (9) (4) (1) (16) 0 0 2 (18) (5) (14) (17) (26) (2) (14) (8) (28) (10) (119.5) (740.3) (2.5) (1.9) 6.3 (0.6) (0.7) (2.8) (0.4) 871.4 283.4 106.5 (185.6) 397.7 451.2 487.6 153.3 158.2 26.5 (68.3) 1,017.5 (456.6) 335 121.6 53.4 139.5 (165.3) 308.3 (139.0) 61.2 (28.4) 0 325.6 (114.3) 403.2 0.1 1,099.9 (0.2) 0 0 1,015.4 306.4 (306.5) 0.1 0.1 45.9 0 0
Financing Cash Flow (3) (47) (16) (3) (13) 5 (14) (50) (73) (425) (29) (68) (20) (56) (57) (143) (29) (6) (196) (98) (157) (713) (71) (87) (394) (108) (560) (253) (175) (272) (306) (79) (95) (407) (164) (164) 124 (130) (180) (186) (2,046) (52.0) 624.4 625.7 (791.6) (237.0) 283.3 788.0 1,835.0 86.7 17.1 845.9 469.5 (318.9) 462.3 675.2 586.0 506.7 15.1 (40.8) (31.0) 533.8 54.5 320.7 72.4 140.3 55.2 (70.1) 234.4 79.0 132.8 18.3 (41.7) 241.0 (55.1) 289.5 171.2 317.7 276.7 (21.7) 564.5 (12.0) 232.7 559 177.8 420 39.4 (7.4) (6.6)
Cash Position
Net Change in Cash 1 2 (98) 104 (24) 13 (124) 60 30 33 (151) 133 17 (46) (96) 56 (9) 48 (235) 226 (46) 56 (343) 237 134 2 (397) 315 (117) 101 (18) 56 (5) 10 (28) 12 (35) (29) (389) 273 (190) (200.9) (32.1) 178.2 8.6 93.5 29.2 26.2 (161.2) 205.0 (92.5) 74.9 (12.2) (2.0) (5.0) 48.4 (23.6) 13.2 10.5 13.7 (37.1) 19.6 54.5 320.7 72.4 (14.5) (8.8) 15.4 4 79.0 132.8 (13.5) (41.7) 241.0 (55.1) 289.5 171.2 317.7 276.7 (21.7) 564.5 (12.0) 232.7 559 177.8 420 39.4 (7.4) (6.6)
Cash at Beginning 71 69 167 63 87 74 198 137 107 74 226 93 66 124 207 151 160 112 347 121 167 111 454 217 83 81 478 163 280 179 197 141 146 136 164 152 187 216 605 332 522 512.3 544.5 366.2 265.6 172.1 153.2 127.0 288.2 83.2 175.7 100.8 113.0 115.0 120.1 71.6 95.3 80.7 70.2 56.5 93.6 74 0 0 20.8 35.3 44.1 28.7 24.7 0 0 31.8 7.4 0 0 0 23.3 0 0 0 7.9 0 0 0 2.5 0 0 0 11.2
Cash at End 72 71 69 167 63 87 74 197 137 107 75 226 83 78 111 207 151 160 112 347 121 167 111 454 217 83 81 478 163 280 179 197 141 146 136 164 152 187 216 605 332 311.5 512.3 544.5 274.2 265.6 182.4 153.2 127.0 288.2 83.2 175.7 100.8 113.0 115.0 120.1 71.6 94.0 80.7 70.2 56.5 93.6 54.5 320.7 93.2 20.8 35.3 44.1 28.7 79.0 132.8 18.3 (34.3) 241.0 (55.1) 289.5 194.5 317.7 276.7 (21.7) 572.4 (12.0) 232.7 559 180.3 420 39.4 (7.4) 4.6
Free Cash Flow (33) (10) 90 1 (43) 3 (139) (10) (30) (2) (115) (42) (36) (558) (92) (41) 273 151 (186) 16 529 (2) (299) (7) (82) 47 (358) 70 (63) 245 (197) 15 (101) 118 (234) 31 (401) 61 (194) 90 95 205.8 137.1 272.8 162.5 247.2 204.1 303.3 183.7 276.5 306.3 300.5 99.5 151.6 181.3 237.6 108.9 168.2 189.3 96.0 170.5 126.8 158.2 27.4 72.2 265.1 161.3 127.8 104.9 120.3 134.1 119.3 94.7 134.7 66.8 133.6 102.1 65.6 (2.6) 182.3 100.9 99.8 77.9 99.6 95 102.5 117.4 135.5 108.7
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 24 28 15 23 14 37 29 (37) 13 (31) 8 28 2 57 17 36 40 27 56 4 72 103 71 114 (6) 28 173 30 50 (28) 102 12 73 232 32 72 69 (59) 203 115 30 297 92 246 219 215 291 185 572 446 414 73 215 732 265 1,006 383 (1,167) 1,120 98 (1,633) 863.9 (215) 2,056 (1,856.4) 652.7 (620.2) 992.1 1,919.3 (1,588.7) 319.8 3,354.9 (2,942.6) (2,233.3) 431.2 774.9 729.9 695.0 711.1 686.9 615.9 599.9 610.8 537.6 563.6 531.9 474.9 504.7 492.7 679.0 475.5 260.5 278.0 297.2 287.7 260.5 274.3 266.2 262.5 254.4
Gross Profit 27 (71) 64 14 5 23 17 (180) (6) (52) (116) (1) (6) 73 27 15 (11) (92) (69) (8) (28) (3) 21 (25) (251) (127) 183 (112) 84 83 47 (51) (3) 289 (181) (106) (32) (140) 143 28 (2) 240 42 187 212 151 258 165 512 799 307 (126) 393 998 86 929 273 (883) 918 25 (1,614) 754.3 (195) 2,115 (2,070.8) (8.3) (858.9) 262.8 1,225.6 (3,177.4) (662.8) 3,332.6 (3,245.7) (4,705.5) 393.0 736.5 692.8 539.1 673.9 649.4 579.5 456.5 573.8 499.1 526.1 415.5 437.4 467.5 457.7 1,670.7 442.7 231.5 252.0 270.5 260.6 236.7 249.7 243.2 240.1 237.3
Operating Income (41) (56) (7) (56) (62) (50) (51) (253) (87) (138) (185) (78) (83) (4) (35) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (220) 89 (207) (19) (9) (45) (146) (96) (58) (273) (210) (120) (238) 55 (55) (101) 139 (55) 92 113 34 148 55 404 294 171 (264) 215 839 (57) 795 21 (1,074) 745 (147) (1,763) 552.3 (356) 1,968 (2,259.4) (205.1) (1,066.1) 1,502.9 985.2 (1,916.3) (1,046.6) 2,935.4 (3,699.8) (3,133.2) (82.8) 293.0 277.0 585.4 306.6 303.1 273.2 379.8 220.2 239.9 296.6 429.6 253.6 299.8 291.0 580.1 303.8 155.4 195.5 210.4 194.5 174.6 184.2 177.5 174.1 179.1
Net Income (40) (51) (8) (56) (62) (48) (56) (255) (86) (134) (185) (75) (86) (52) (34) (36) (73) (155) (123) (61) (106) (81) (58) (106) (333) (243) 83 (207) (21) (7) (45) (146) (98) (37) (267) (1,229) (72) (265) 31 (27) (78) 82 (35) 64 69 20 173 120 256 132 132 (178) 164 636 7 581 10 (626) 444 137 (1,274) 450.8 (213) 1,295 (1,480.2) (240.1) (724.5) 898.0 700.6 (1,159.8) (806.5) 1,700.4 (2,406.7) (2,295.8) (36.6) 211.8 198.6 181.0 217.9 221.4 199.0 182.7 141.8 173.7 212.8 204.5 183.2 218.4 208.6 182.0 217.9 117.2 144.0 156.4 143.0 116.1 136.2 130.7 129.4 132.3
EPS (Diluted) -0.80 -1.02 -0.16 -1.13 -1.28 -1.00 -1.17 -5.35 -1.84 -2.71 -3.94 -1.53 -1.86 -0.10 -0.68 0.50 -1.47 -3.13 -2.48 -1.23 -2.15 -1.65 -1.10 -1.69 -4.62 -3.21 1.00 -2.02 -0.20 -0.08 -0.50 -1.64 -1.11 -0.42 -2.17 -9.78 -0.55 -2.01 0.23 -0.20 -0.57 0.54 -0.23 0.36 0.37 0.10 0.80 0.45 1.32 0.70 0.52 -0.94 0.84 3.27 0.04 2.98 0.05 -3.24 2.26 0.68 -5.68 2.25 -1.06 6.32 -7.22 -1.17 -3.48 4.30 3.34 -5.56 -3.42 7.14 -12.92 -18.34 -0.30 1.61 1.46 1.37 1.59 1.62 1.46 1.38 1.04 1.27 1.52 1.49 1.27 1.49 1.42 1.27 1.51 0.81 0.97 1.06 0.96 0.78 0.92 0.88 0.87 0.89
Balance Sheet
Cash & Equivalents 72 71 69 167 63 87 74 197 137 107 74 215 83 66 111 207 151 160 112 347 121 167 111 454 217 83 81 478 163 280 179 197 141 146 136 164 152 187 216 605 332 1,495.2 1,228.5 803.2 899.6 1,077.6 365.8 274.2 265.6 182.4 127.0 288.2 83.2 175.7 120.1 71.6 95.3 94.0 80.7 70.2 56.5 93.6 74 66 35 20.8 35 44 29 23.2 8 34 21 7.4 9 12 6 23.3 13 7 10 7.9 12 12 0 0 0 0 0
Total Assets 1,979 2,013 2,060 2,134 2,132 2,168 2,230 2,304 2,464 2,737 2,990 3,257 3,317 3,375 4,015 4,067 4,443 4,696 4,816 5,252 5,375 5,751 6,551 6,613 6,632 7,284 7,606 8,647 8,778 8,076 8,361 8,699 8,893 9,095 9,544 9,767 11,017 11,137 11,787 12,064 12,751 33,464.2 34,532.9 25,684.7 27,296.5 27,907.3 45,329.0 29,907.5 30,802.0 30,267.7 21,945.4 19,300 18,852.1 18,713.2 16,113.7 14,752.9 14,139.0 13,894.3 13,220.5 12,717.2 12,437.3 12,263.9 11,774.8 11,809.4 11,802.8 11,796.6 11,666.6 11,123.1 11,006.3 9,810.8 9,383.8 8,906.3 8,496.8 8,562.0 7,942 7,869.3 7,405.4 7,267.4 6,758.1 6,493.9 6,131.7 5,456.4 5,264 5,037.2 4,363.4 4,106.3 3,574.3 3,391.1 3,203.4
Total Debt 3,382 3,347 3,348 3,300 3,260 3,224 3,183 3,132 3,317 3,318 3,122 3,185 3,130 3,103 3,052 3,069 3,218 3,212 3,192 3,371 3,407 3,562 4,191 4,135 4,084 4,447 4,501 5,334 5,563 4,715 4,916 5,165 5,204 4,551 5,343 5,403 5,381 5,122 5,230 5,329 6,061 15,463.2 16,104.6 8,131.1 9,289.7 8,925.4 17,098.8 11,225.1 10,158.2 9,919.3 8,651.0 8,243.7 8,263.6 1,741.6 1,848.1 1,867.3 1,902.9 1,907.1 1,644.4 1,720.7 1,741.2 1,786.9 689.1 689.1 689 1,586.7 639 508.9 508.9 1,670.9 493.8 434.1 414 1,371.8 416.4 3,459.2 3,137.9 1,007.7 321.9 321.8 321.8 298.8 298.8 298.7 298.7 298.7 298.7 298.6 298.6
Stockholders' Equity (2,283) (2,237) (2,180) (2,178) (2,126) (2,089) (2,001) (1,994) (1,733) (1,657) (1,239) (1,000) (912) (882) (863) (748) (565) (313) (170) (36) (41) 136 230 347 484 826 1,035 1,040 1,188 1,119 1,108 1,103 1,248 1,413 1,708 1,944 3,214 3,227 3,658 3,646 3,627 2,665.4 1,368.9 2,606.9 2,781.9 1,639.5 6,531.4 6,298.4 6,553.4 6,259.0 6,072.7 5,664.6 5,493.4 5,481.7 4,759.0 4,461.8 4,404.3 4,223.4 3,893.8 3,716.8 3,666.7 3,513.1 3,541.8 3,547.2 3,696 3,792.2 3,773.8 3,568.5 3,427.9 3,048.3 2,907.2 2,622.1 2,470.7 2,479.7 2,362.2 2,269.4 2,242 2,234.3 2,090.3 2,007 1,871.9 1,704.7 1,714.2 1,690.9 1,679.5 1,596.4 1,558.5 1,506.2 1,450.3
Cash Flow
Operating Cash Flow (33) (10) 90 1 (43) 3 (139) (10) (30) (2) (115) (42) (36) (558) (92) (41) 273 152 (186) 16 529 (2) (299) (7) (82) 47 (358) 13 (70) 4 (197) (25) (101) 43 (233) 31 (471) (13) (193) 25 39 207.9 138.5 274.9 164.6 249.7 208.2 306.2 186.4 278.0 309.4 302.1 102.6 159.1 184.4 237.3 110.9 173.3 190.8 101.3 174.9 154.2 173.5 36.8 78.8 275.0 165.9 133 108.1 126.1 135.6 123.6 96.8 139.8 67.7 135.4 103.5 67.0 (1.9) 184 102 101.7 78.4 100.3 96 103.8 117.3 138.4 111.4
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1) 0 0 0 0 0 0 0 0 0 57 7 241 0 40 0 75 (1) 0 70 74 (1) 65 56 (2.1) (1.4) (2.1) (2.1) (2.5) (4.1) (2.9) (2.6) (1.5) (3.1) (1.7) (3.2) (7.5) (3.1) 0.3 (1.9) (5.2) (1.4) (5.3) (4.4) (27.4) (15.3) (9.4) (6.6) (9.9) (4.6) (5.2) (3.2) (5.8) (1.5) (4.3) (2.1) (5.1) (0.9) (1.8) (1.4) (1.4) (0.7) (1.7) (1.1) (1.9) (0.5) (0.7) (1) (1.3) 0.1 (2.9) (2.7)
Free Cash Flow (33) (10) 90 1 (43) 3 (139) (10) (30) (2) (115) (42) (36) (558) (92) (41) 273 151 (186) 16 529 (2) (299) (7) (82) 47 (358) 70 (63) 245 (197) 15 (101) 118 (234) 31 (401) 61 (194) 90 95 205.8 137.1 272.8 162.5 247.2 204.1 303.3 183.7 276.5 306.3 300.5 99.5 151.6 181.3 237.6 108.9 168.2 189.3 96.0 170.5 126.8 158.2 27.4 72.2 265.1 161.3 127.8 104.9 120.3 134.1 119.3 94.7 134.7 66.8 133.6 102.1 65.6 (2.6) 182.3 100.9 99.8 77.9 99.6 95 102.5 117.4 135.5 108.7