MELI - MercadoLibre, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$2,166.67
DETAILS
HIGH:
$2,600.00
LOW:
$1,750.00
MEDIAN:
$2,150.00
CONSENSUS:
$2,166.67
UPSIDE:
30.18%
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | 8,845 | 8,759 | 7,409 | 6,790 | 5,935 | 6,059 | 5,312 | 5,073 | 4,333 | 4,261 | 3,927 | 3,585 | 3,186 | 3,002 | 2,690 | 2,597 | 2,248 | 2,130.8 | 1,858 | 1,703 | 1,378 | 1,327.3 | 1,115.7 | 878.4 | 652.1 | 674.3 | 603.0 | 545.2 | 473.8 | 428.0 | 355.3 | 335.4 | 321.0 | 437.0 | 304.9 | 283.9 | 269.7 | 256.3 | 230.8 | 199.6 | 157.6 | 180.7 | 168.6 | 154.3 | 148.1 | 161.4 | 147.9 | 131.8 | 115.4 | 134.6 | 123.1 | 112.2 | 102.7 | 103.8 | 97.3 | 88.8 | 83.7 | 86.5 | 81.6 | 69.4 | 61.5 | 62.3 | 56.0 | 52.5 | 45.9 | 49.0 | 50.6 | 40.9 | 32.3 | 33.4 | 40.3 | 34.5 | 28.8 | 26.9 | 22.8 | 19.0 | 16.5 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Cost of Revenue | 4,983 | 4,975 | 4,200 | 3,696 | 3,164 | 3,310 | 2,873 | 2,708 | 2,309 | 2,306 | 1,832 | 1,754 | 1,572 | 1,544 | 1,342 | 1,313 | 1,175 | 1,277.6 | 1,051 | 949 | 787 | 838.3 | 635.5 | 451.2 | 339.3 | 365.9 | 318.7 | 272.8 | 236.8 | 223.2 | 185.6 | 175.6 | 158.2 | 233.6 | 129.1 | 112.3 | 100.8 | 93.5 | 85.2 | 73.3 | 55.4 | 63.2 | 56.8 | 50.3 | 44.7 | 47.7 | 43.4 | 36.4 | 31.5 | 36.2 | 34.1 | 31.1 | 28.6 | 27.4 | 25.7 | 23.9 | 21.1 | 20.7 | 20.1 | 16.9 | 14.3 | 13.8 | 11.5 | 11.4 | 9.9 | 10.3 | 10.4 | 8.6 | 6.6 | 6.5 | 8.2 | 6.9 | 6.0 | 6.2 | 5.2 | 4.1 | 3.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 3,862 | 3,784 | 3,209 | 3,094 | 2,771 | 2,749 | 2,439 | 2,365 | 2,024 | 1,955 | 2,095 | 1,831 | 1,614 | 1,458 | 1,348 | 1,284 | 1,073 | 853.2 | 807 | 754 | 591 | 489.0 | 480.2 | 427.2 | 312.8 | 308.3 | 284.3 | 272.4 | 237.0 | 204.8 | 169.7 | 159.7 | 162.8 | 203.4 | 175.8 | 171.6 | 168.9 | 162.7 | 145.6 | 126.3 | 102.2 | 117.6 | 111.8 | 104.0 | 103.4 | 113.7 | 104.5 | 95.5 | 83.8 | 98.4 | 88.9 | 81.1 | 74.1 | 76.4 | 71.6 | 65.0 | 62.6 | 65.7 | 61.6 | 52.4 | 47.1 | 48.5 | 44.5 | 41.1 | 36.0 | 38.7 | 40.2 | 32.3 | 25.7 | 27.0 | 32.1 | 27.6 | 22.8 | 20.7 | 17.6 | 14.9 | 12.9 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Operating Expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| R&D Expenses | 699 | 584 | 567 | 567 | 551 | 512 | 504 | 460 | 458 | 686 | 396 | 368 | 381 | 325 | 278 | 262 | 234 | 179.6 | 138 | 147 | 126 | 117.0 | 88.8 | 73.3 | 73.4 | 58.0 | 59.5 | 53.9 | 52.4 | 39.0 | 35.5 | 33.4 | 38.4 | 34.1 | 32.4 | 30.3 | 30.3 | 26.3 | 26.1 | 24.2 | 21.9 | 22.5 | 17.0 | 19.6 | 17.2 | 16.0 | 13.6 | 11.7 | 12.3 | 9.7 | 12.1 | 9.8 | 9.4 | 6.9 | 8.0 | 6.1 | 7.6 | 6.7 | 5.9 | 5.5 | 5.2 | 4.4 | 4.2 | 4.0 | 3.2 | 3.1 | 3.3 | 3.1 | 2.6 | 2.1 | 1.7 | 1.7 | 1.7 | 1.2 | 1.2 | 1.0 | 1.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | (656) | 2,311 | (563) | 1,012 | 854 | 890 | 871 | 729 | 664 | 730 | 637 | 572 | 563 | 556 | 486 | 469 | 445 | 650.2 | 404 | 359 | 374 | 397.2 | 308.3 | 254.5 | 269.1 | 319.2 | 306.8 | 231.0 | 174.5 | 166.6 | 145.2 | 154.6 | 153.8 | 148.1 | 115.9 | 108.4 | 75.2 | 71.8 | 65.9 | 56.2 | 49.8 | 61.4 | 49.5 | 49.7 | 44.3 | 52.4 | 43.8 | 40.2 | 37.6 | 36.6 | 39.4 | 35.9 | 36.1 | 30.3 | 29.9 | 26.9 | 30.1 | 30.0 | 25.7 | 25.4 | 22.7 | 23.1 | 21.0 | 18.3 | 17.3 | 17.7 | 17.9 | 16.8 | 16.3 | 15.7 | 18.7 | 16.1 | 14.5 | 12.2 | 10.5 | 9.1 | 9.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Expenses | 3,208 | 0 | 2,481 | 690 | 603 | 527 | 507 | 450 | 374 | 299 | 277 | 222 | 252 | 228 | 288 | 303 | 255 | 0 | 105 | 82 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 85.8 | 0 | 2.8 | 0 | 0 | 0 | 13.7 | 0 | 0 | 0 | 0 | 16.2 | 0 | 0 | 49.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.9) | 0 | 1.5 | 0 | 0 | 0 | 0 | 0 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Operating Expenses | 3,251 | 2,895 | 2,485 | 2,269 | 2,008 | 1,929 | 1,882 | 1,639 | 1,496 | 1,715 | 1,310 | 1,162 | 1,196 | 1,109 | 1,052 | 1,034 | 934 | 829.8 | 647 | 588 | 500 | 514.2 | 397.1 | 327.7 | 342.5 | 377.2 | 366.3 | 284.9 | 226.9 | 205.6 | 180.7 | 188.0 | 192.2 | 268.0 | 148.3 | 141.5 | 105.5 | 98.1 | 91.9 | 94.1 | 71.7 | 83.9 | 66.5 | 69.4 | 77.8 | 68.5 | 57.4 | 101.4 | 49.8 | 46.3 | 51.5 | 45.7 | 45.5 | 37.2 | 37.9 | 33.1 | 37.7 | 36.8 | 31.6 | 30.9 | 27.8 | 27.6 | 25.2 | 22.3 | 20.5 | 20.8 | 21.2 | 19.9 | 18.9 | 15.8 | 20.4 | 19.4 | 16.3 | 13.4 | 11.6 | 10.2 | 10.0 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Income | 611 | 889 | 724 | 825 | 763 | 820 | 557 | 726 | 528 | 240 | 785 | 669 | 418 | 349 | 296 | 250 | 139 | 23.3 | 160 | 166 | 91 | (25.1) | 83.1 | 99.4 | (29.7) | (68.9) | (81.9) | (12.5) | 10.1 | (0.8) | (11.0) | (28.2) | (29.4) | (64.6) | 27.5 | 30.0 | 63.3 | 64.7 | 53.7 | 32.2 | 30.5 | 33.7 | 45.3 | 34.6 | 25.6 | 45.2 | 47.1 | (5.9) | 34.0 | 52.1 | 37.4 | 35.4 | 28.6 | 39.1 | 33.7 | 31.9 | 24.9 | 29.0 | 30.0 | 21.6 | 19.3 | 21.0 | 19.3 | 18.8 | 15.5 | 17.9 | 19.0 | 12.4 | 6.8 | 11.2 | 11.7 | 8.1 | 6.5 | 7.3 | 6.0 | 4.7 | 2.9 | (33.0) | 13.7 | 13.7 | 11.0 | (20.4) | 7.1 | 7.1 | 7.1 |
| Interest Expense | 65 | 38 | 35 | 36 | 39 | 48 | 40 | 39 | 38 | 38 | 53 | 49 | 34 | 100 | 92 | 73 | 7 | 53.7 | 44.4 | 39.3 | 91.3 | 31.6 | 24.5 | 27.0 | 23.6 | 21.2 | 14.5 | 14.7 | 15.6 | 16.4 | 15.9 | 13.2 | 10.7 | 6.8 | 6.7 | 6.5 | 5.9 | 6.8 | 6.5 | 6.6 | 5.7 | 4.2 | 6.0 | 5.2 | 5.0 | 4.9 | 4.9 | 0.8 | 1.0 | 1.0 | 0.5 | 0.5 | 0.4 | 0.3 | 0.3 | 0.5 | 0.1 | 1.1 | 1.1 | 0.9 | 0.6 | 0.7 | 0.6 | 3.4 | 3.0 | 3.6 | 3.9 | 3.3 | 2.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 27 | 8 | 49 | 44 | 37 | 41 | 43 | 39 | 25 | 40 | 38 | 34 | 23 | 123 | 65 | 46 | 31 | 53.4 | 35.4 | 24.2 | 25.1 | 22.6 | 24.6 | 18.8 | 36.8 | 26.9 | 28.5 | 33.7 | 21.1 | 14.3 | 8.6 | 9.9 | 9.2 | 8.9 | 14.2 | 10.7 | 12.2 | 10.2 | 9.9 | 8.0 | 7.3 | 5.8 | 5.8 | 4.7 | 4.3 | 4.4 | 4.4 | 3.6 | 3.0 | 2.3 | 2.8 | 2.2 | 3.4 | 2.9 | 2.9 | 3.0 | 3.1 | 2.9 | 2.9 | 2.2 | 1.9 | 1.9 | 1.4 | 0.9 | 0.8 | 0.6 | 0.6 | 0.6 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EBITDA | 857 | 1,060 | 485 | 951 | 917 | 963 | 717 | 861 | 673 | 446 | 719 | 649 | 480 | 530 | 387 | 336 | 251 | 86.9 | 222 | 225 | 139 | 20.1 | 105.4 | 139.0 | 28.5 | (21.0) | (32.9) | 39.3 | 46.6 | 21.5 | 12.9 | 5.7 | (3.5) | (46.9) | 54.2 | 29.0 | 85.1 | 82.7 | 66.3 | 41.8 | 49.1 | 63.5 | 59.6 | 44.6 | 26.4 | 59.5 | 61.5 | (14.2) | 43.6 | 60.1 | 44.8 | 44.1 | 28.3 | 45.0 | 38.6 | 37.7 | 28.9 | 33.9 | 38.1 | 25.1 | 22.2 | 24.1 | 21.7 | 20.9 | 17.6 | 19.5 | 17.3 | 12.7 | 10.5 | 10.5 | 12.6 | 10.5 | 7.2 | 7.9 | 6.6 | 5.3 | 3.5 | (33.0) | 13.7 | 13.7 | 11.0 | (20.4) | 7.1 | 7.1 | 7.1 |
| EBIT | 611 | 822 | 276 | 752 | 745 | 811 | 560 | 707 | 519 | 311 | 584 | 521 | 354 | 408 | 290 | 236 | 167 | 19.7 | 170 | 178 | 101 | (12.4) | 77.2 | 116.3 | 6.9 | (41.8) | (52.5) | 22.0 | 30.9 | 9.6 | 1.6 | (5.8) | (14.6) | (57.9) | 43.4 | 18.9 | 76.1 | 74.4 | 58.8 | 34.8 | 42.9 | 57.3 | 53.6 | 38.7 | 21.3 | 54.9 | 56.7 | (18.3) | 40.1 | 56.8 | 41.7 | 41.3 | 25.7 | 42.5 | 36.3 | 35.6 | 27.0 | 31.9 | 36.2 | 23.3 | 20.7 | 22.8 | 20.3 | 19.7 | 16.7 | 18.6 | 16.3 | 11.7 | 9.6 | 9.6 | 11.7 | 9.7 | 6.5 | 7.3 | 6.0 | 4.7 | 2.9 | (33.0) | 13.7 | 13.7 | 11.0 | (20.4) | 7.1 | 7.1 | 7.1 |
| Income Before Tax | 579 | 784 | 241 | 716 | 706 | 763 | 520 | 668 | 481 | 230 | 531 | 472 | 323 | 309 | 198 | 162 | 111 | (42.5) | 126 | 138 | 10 | (44.0) | 52.7 | 89.3 | (16.7) | (63.0) | (66.9) | 7.3 | 15.4 | (6.8) | (14.3) | (19.0) | (25.4) | (64.7) | 36.7 | 12.4 | 69.7 | 67.6 | 52.3 | 28.2 | 37.2 | 53.0 | 47.6 | 33.5 | 16.4 | 50.0 | 51.8 | (19.1) | 39.1 | 55.8 | 41.2 | 40.7 | 25.4 | 42.2 | 36.0 | 35.1 | 26.9 | 30.8 | 35.1 | 22.5 | 20.1 | 22.1 | 19.8 | 16.3 | 13.7 | 14.9 | 12.4 | 8.3 | 7.1 | 10.8 | 8.3 | 5.4 | 4.9 | 5.9 | 4.2 | 2.4 | 1.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Tax Expense | 162 | 225 | (215) | 193 | 212 | 124 | 123 | 137 | 137 | 65 | 172 | 210 | 122 | 144 | 69 | 39 | 46 | 3.6 | 31 | 70 | 44 | 6.6 | 37.6 | 33.4 | 4.4 | (9.0) | 79.2 | (8.9) | 3.5 | (4.5) | (4.2) | (7.7) | (12.4) | 3.0 | 9.0 | 7.1 | 21.1 | 16.3 | 13.4 | 12.4 | 7.0 | 14.1 | 2.0 | 14.0 | 14.7 | 15.8 | 18.1 | 6.5 | 8.8 | 15.0 | 12.1 | 10.7 | 7.8 | 12.0 | 9.9 | 9.7 | 7.3 | 9.2 | 8.8 | 7.6 | 6.0 | 6.1 | 1.0 | 4.7 | 4.1 | 3.6 | 2.5 | 1.7 | 1.7 | 2.9 | 2.4 | 2.5 | 2.9 | 0.6 | 1.4 | 1.8 | 0.9 | (0.3) | (0.3) | (0.3) | (0.1) | (0.6) | (0.6) | (0.6) | (0.6) |
| Net Income | 417 | 559 | 421 | 523 | 494 | 639 | 397 | 531 | 344 | 165 | 359 | 262 | 201 | 165 | 129 | 123 | 65 | (46.1) | 95 | 68 | (34) | (50.6) | 15.0 | 55.9 | (21.1) | (54.0) | (146.1) | 16.2 | 11.9 | (2.3) | (10.1) | (11.3) | (12.9) | (67.7) | 27.7 | 5.3 | 48.5 | 51.3 | 38.9 | 15.9 | 30.2 | 39.0 | 45.6 | 19.5 | 1.7 | 34.1 | 33.8 | (25.6) | 30.3 | 40.8 | 29.3 | 30.0 | 17.5 | 30.2 | 26.0 | 25.4 | 19.6 | 21.6 | 26.3 | 14.8 | 14.1 | 15.9 | 18.8 | 11.7 | 9.6 | 11.3 | 9.9 | 6.7 | 5.4 | 7.9 | 5.9 | 2.9 | 2.1 | 5.3 | 2.8 | 0.6 | 1.0 | 0.3 | 0.3 | 0.3 | 0.1 | 0.6 | 0.6 | 0.6 | 0.6 |
| Per Share Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS (Basic) | 8.23 | 11.03 | 8.30 | 10.32 | 9.74 | 12.61 | 7.83 | 10.47 | 6.79 | 3.26 | 7.18 | 5.22 | 4.00 | 3.28 | 2.56 | 2.44 | 1.29 | -0.94 | 1.92 | 1.37 | -0.68 | -1.02 | 0.30 | 1.13 | -0.42 | -1.09 | -2.94 | 0.33 | 0.26 | -0.05 | -0.23 | -0.25 | -0.29 | -1.54 | 0.63 | 0.12 | 1.10 | 1.16 | 0.88 | 0.36 | 0.68 | 0.88 | 1.03 | 0.44 | 0.04 | 0.77 | 0.76 | -0.58 | 0.69 | 0.92 | 0.66 | 0.68 | 0.40 | 0.68 | 0.59 | 0.57 | 0.44 | 0.49 | 0.60 | 0.34 | 0.32 | 0.36 | 0.43 | 0.26 | 0.22 | 0.26 | 0.22 | 0.15 | 0.12 | 0.18 | 0.13 | 0.07 | 0.05 | 0.11 | 0.10 | 0.04 | 0.07 | 0.02 | 0.02 | 0.02 | 0.01 | 0.04 | 0.04 | 0.04 | 0.04 |
| EPS (Diluted) | 8.23 | 11.03 | 8.30 | 10.32 | 9.74 | 12.60 | 7.83 | 10.47 | 6.79 | 3.25 | 7.15 | 5.12 | 3.92 | 3.22 | 2.51 | 2.44 | 1.29 | -0.94 | 1.92 | 1.37 | -0.68 | -1.02 | 0.30 | 1.13 | -0.42 | -1.09 | -2.94 | 0.33 | 0.26 | -0.05 | -0.23 | -0.25 | -0.29 | -1.53 | 0.63 | 0.12 | 1.10 | 1.16 | 0.88 | 0.36 | 0.68 | 0.88 | 1.03 | 0.44 | 0.04 | 0.77 | 0.76 | -0.58 | 0.69 | 0.92 | 0.66 | 0.68 | 0.40 | 0.68 | 0.59 | 0.57 | 0.44 | 0.49 | 0.60 | 0.34 | 0.32 | 0.36 | 0.43 | 0.26 | 0.22 | 0.26 | 0.22 | 0.15 | 0.12 | 0.18 | 0.13 | 0.07 | 0.05 | 0.11 | 0.10 | 0.04 | 0.07 | 0.02 | 0.02 | 0.02 | 0.01 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares Outstanding | 50.7 | 50.7 | 50.7 | 50.7 | 50.7 | 50.7 | 50.7 | 50.7 | 50.7 | 50.6 | 50.0 | 50.2 | 50.2 | 50.3 | 50.3 | 50.4 | 50.4 | 49.8 | 49.6 | 49.8 | 49.9 | 49.8 | 49.7 | 49.7 | 49.7 | 49.7 | 49.7 | 49.3 | 46.0 | 44.0 | 43.8 | 44.2 | 44.2 | 44.0 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.2 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.1 | 44.2 | 44.3 | 44.2 | 44.2 | 46.9 | 27.5 | 13.6 | 13.4 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 | 13.1 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Cash Equivalents | 15,141 | 3,670 | 2,582 | 3,008 | 2,977 | 2,635 | 2,162 | 2,818 | 2,579 | 2,556 | 2,171 | 1,860 | 2,143 | 1,910 | 1,455 | 1,329 | 1,573 | 2,585 | 987.2 | 1,069.9 | 862.7 | 1,856.4 | 1,139.7 | 1,169.5 | 1,071.2 | 1,384.7 | 1,419.9 | 1,118.7 | 1,295.9 | 440.3 | 1,028.6 | 489.2 | 350.4 | 388.3 | 461.2 | 382.8 | 301.4 | 234.1 | 188.0 | 144.0 | 144.9 | 31.6 | 34.6 | 49.8 | 19.4 | 17.0 | 14.5 |
| Short-Term Investments | 1,973 | 2,629 | 1,496 | 960 | 741 | 1,115 | 1,106 | 995 | 1,173 | 1,197 | 1,558 | 1,441 | 1,070 | 1,120 | 930 | 897 | 471 | 208 | 302.7 | 190.5 | 980.1 | 604.4 | 2,187.5 | 2,124.9 | 1,558.3 | 1,597.2 | 1,726.2 | 1,789.4 | 1,648.5 | 461.5 | 67.0 | 69.4 | 159.4 | 209.4 | 175.2 | 206.2 | 265.2 | 253.3 | 283.6 | 251.4 | 195.6 | 11.3 | 7.1 | 14.6 | 28.6 | 29.4 | 48.4 |
| Net Receivables | 370 | 7,262 | 14,756 | 13,472 | 11,294 | 10,475 | 9,049 | 7,798 | 7,251 | 6,557 | 5,872 | 5,046 | 4,808 | 4,975 | 4,382 | 4,393 | 4,267 | 3,338 | 2,271.7 | 1,806.8 | 1,365.1 | 1,378.1 | 940.4 | 828.3 | 542.3 | 672.8 | 500.5 | 666.1 | 477.6 | 542.5 | 384.4 | 447.1 | 682.4 | 673.4 | 487.3 | 315.2 | 336.1 | 359.3 | 257.9 | 255.5 | 240.8 | 12.4 | 10.8 | 8.7 | 6.4 | 6.7 | 19.7 |
| Inventory | 677 | 570 | 532 | 434 | 358 | 296 | 322 | 257 | 223 | 238 | 246 | 236 | 199 | 152 | 160 | 183 | 239 | 253 | 226.7 | 169.4 | 131.5 | 118.1 | 46.6 | 20.8 | 12.1 | 8.6 | 10.1 | 6.0 | 3.0 | 4.6 | 7.4 | 7.9 | 3.4 | 2.5 | 2.3 | 1.0 | 0.4 | 1.1 | 1.4 | 1.0 | 0.4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 18,962 | 19,442 | 9,429 | 8,188 | 6,370 | 5,523 | 5,185 | 4,611 | 4,279 | 3,625 | 3,160 | 3,652 | 3,071 | 2,703 | 2,362 | 1,984 | 2,076 | 1,697 | 1,442.4 | 1,272.8 | 517.6 | 1,302.4 | 581.2 | 587.9 | 291.0 | 80.1 | 106.0 | 77.7 | 71.3 | 34.7 | 103.2 | 97.1 | 68.1 | 7.4 | 48.0 | 43.4 | 28.5 | 6.5 | 21.9 | 15.3 | 16.1 | 11.5 | 8.9 | 8.6 | 9.4 | 3.4 | 2.9 |
| Total Current Assets | 37,123 | 33,573 | 28,795 | 26,062 | 21,740 | 20,142 | 17,824 | 16,479 | 15,505 | 14,260 | 13,050 | 12,290 | 11,336 | 10,953 | 9,351 | 8,863 | 8,705 | 8,175 | 5,283.1 | 4,567.7 | 3,900.2 | 5,346.8 | 4,923.9 | 4,754.6 | 3,510.3 | 3,788.9 | 3,780.6 | 3,676.4 | 3,520.5 | 1,511.1 | 1,601.7 | 1,125.2 | 1,285.6 | 1,286.9 | 1,182.2 | 958.2 | 946.4 | 869.5 | 759.1 | 673.3 | 605.0 | 67.3 | 61.9 | 82.1 | 64.4 | 57.3 | 86.1 |
| Non-Current Assets | |||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant & Equipment | 4,815 | 4,504 | 4,100 | 3,463 | 2,825 | 2,478 | 2,251 | 1,993 | 2,132 | 2,149 | 1,877 | 1,869 | 1,733 | 1,649 | 1,532 | 1,457 | 1,509 | 1,268 | 1,092.3 | 1,015.2 | 804.0 | 694.9 | 527.8 | 449.9 | 422.8 | 444.7 | 395.9 | 373.8 | 342.5 | 165.6 | 138.4 | 113.2 | 122.9 | 114.8 | 136.1 | 130.6 | 132.0 | 124.3 | 121.0 | 104.8 | 89.9 | 7.7 | 7.3 | 5.9 | 6.4 | 6.7 | 4.2 |
| Goodwill | 165 | 163 | 161 | 160 | 155 | 149 | 149 | 149 | 158 | 163 | 159 | 166 | 160 | 153 | 147 | 149 | 162 | 148 | 80.9 | 85.2 | 82.8 | 85.2 | 79.1 | 81.8 | 82.3 | 87.6 | 86.1 | 90.4 | 89.8 | 88.9 | 88.7 | 83.6 | 93.7 | 92.3 | 95.2 | 94.1 | 95.8 | 91.8 | 94.5 | 96.2 | 91.4 | 58.5 | 59.4 | 59.8 | 0 | 63.5 | 23.0 |
| Intangible Assets | 33 | 33 | 116 | 108 | 92 | 61 | 46 | 49 | 52 | 35 | 21 | 22 | 24 | 25 | 29 | 31 | 43 | 45 | 30.7 | 23.9 | 20.3 | 14.2 | 14.2 | 15.9 | 17.1 | 14.3 | 15.1 | 16.8 | 17.7 | 18.6 | 18.7 | 19.3 | 22.4 | 23.2 | 24.6 | 25.4 | 26.2 | 26.3 | 27.7 | 29.1 | 29.1 | 4.4 | 4.4 | 4.5 | 0 | 7.9 | 0 |
| Long-Term Investments | 1,696 | 1,764 | 1,328 | 1,376 | 1,310 | 1,191 | 1,207 | 398 | 226 | 139 | 125 | 126 | 257 | 301 | 360 | 441 | 106 | 76 | 38.0 | 181.4 | 175.6 | 166.1 | 6.9 | 5.8 | 270.0 | 264.0 | 3.6 | 207.0 | 275.4 | 276.1 | 2.8 | 11.4 | 33.4 | 34.7 | 45.5 | 186.3 | 170.4 | 153.8 | 155.2 | 157.8 | 187.9 | 66.1 | 54.9 | 26.6 | 22.4 | 13.8 | 0 |
| Other Non-Current Assets | 1,212 | 2,630 | 815 | 640 | 592 | 373 | 366 | 195 | 179 | 156 | 403 | 422 | 334 | 309 | 274 | 258 | 263 | 208 | 147.4 | 136.7 | 90.7 | 84.2 | 60.8 | 50.9 | 53.4 | 64.7 | 49.5 | 46.1 | 41.5 | 37.7 | 42.5 | 60.5 | 68.0 | 63.9 | 68.4 | 58.8 | 61.4 | 56.8 | 54.5 | 42.5 | 47.5 | 0.6 | 0.5 | 0.7 | 13.0 | 11.7 | 1.6 |
| Total Non-Current Assets | 9,811 | 9,094 | 7,896 | 6,886 | 5,942 | 5,054 | 4,799 | 3,551 | 3,557 | 3,352 | 3,074 | 2,953 | 2,865 | 2,783 | 2,611 | 2,584 | 2,318 | 1,926 | 1,516.9 | 1,575.0 | 1,297.7 | 1,179.5 | 813.8 | 698.2 | 947.8 | 992.8 | 658.7 | 919.1 | 927.7 | 728.4 | 416.7 | 394.3 | 434.1 | 386.3 | 436.1 | 553.3 | 537.3 | 498.0 | 496.9 | 466.9 | 478.4 | 141.4 | 130.4 | 100.5 | 118.8 | 103.6 | 29.4 |
| Total Assets | 46,934 | 42,667 | 36,691 | 32,948 | 27,682 | 25,196 | 22,623 | 20,030 | 19,062 | 17,612 | 16,124 | 15,243 | 14,201 | 13,736 | 11,962 | 11,447 | 11,023 | 10,101 | 6,800.0 | 6,142.7 | 5,197.9 | 6,526.3 | 5,737.7 | 5,452.7 | 4,458.1 | 4,781.7 | 4,439.3 | 4,595.5 | 4,448.2 | 2,239.5 | 2,018.4 | 1,519.4 | 1,719.7 | 1,673.2 | 1,618.3 | 1,511.4 | 1,483.6 | 1,367.4 | 1,256.1 | 1,140.1 | 1,083.5 | 208.6 | 192.3 | 182.6 | 183.2 | 160.9 | 115.5 |
| Current Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
| Account Payables | 14,145 | 8,086 | 4,053 | 3,875 | 3,330 | 3,196 | 2,940 | 2,556 | 2,203 | 2,117 | 1,910 | 1,831 | 1,597 | 1,393 | 1,155 | 1,131 | 1,027 | 1,036 | 906.4 | 857.6 | 612.2 | 728.1 | 509.1 | 417.8 | 295.5 | 331.1 | 342.4 | 314.7 | 246.8 | 243.3 | 231.0 | 226.1 | 228.3 | 199.5 | 181.6 | 154.4 | 108.5 | 95.1 | 96.0 | 86.1 | 77.2 | 36.0 | 46.4 | 7.2 | 43.3 | 37.5 | 7.8 |
| Short-Term Debt | 472 | 4,623 | 4,389 | 3,776 | 3,530 | 2,787 | 2,218 | 2,170 | 2,210 | 2,257 | 2,252 | 2,264 | 2,314 | 2,117 | 1,932 | 1,003 | 729 | 1,275 | 755.7 | 571.7 | 442.0 | 541.0 | 616.0 | 589.9 | 314.8 | 184.1 | 106.9 | 163.0 | 141.2 | 131.5 | 141.5 | 146.7 | 134.5 | 56.3 | 24.7 | 18.2 | 16.4 | 11.6 | 6.1 | 0.8 | 3.3 | 0.1 | 0 | 3.2 | 15.5 | 18.5 | 3.1 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 106 | 0 | 0 | 0 | 66 | 0 | 0 | 0 | 81 | 0 | 0 | 0 | 67 | 0 | 0 | 0 | 86.6 | 0 | 0 | 0 | 107.3 | 0 | 0 | 0 | 26.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 17,352 | 14,578 | 399 | 342 | 236 | 103 | 296 | 234 | 225 | 53 | 143 | 173 | 151 | 63 | 121 | 1,008 | 852 | (18.4) | 70.2 | 75.8 | 115.9 | 31.6 | 48.7 | 44.4 | 76.6 | 12.8 | 75.6 | 56.1 | 56.4 | 13.8 | 11.8 | 25.3 | 4.1 | 7.6 | 1.4 | 1.5 | 5.6 | 10.5 | 2.3 | 2.1 | 8.1 | 7.1 | 4.4 | 0.0 | 0.5 | 0.6 | 18.2 |
| Total Current Liabilities | 31,969 | 28,633 | 24,522 | 21,750 | 18,065 | 16,603 | 14,313 | 12,914 | 12,256 | 11,263 | 10,306 | 9,616 | 8,827 | 8,562 | 7,002 | 6,823 | 6,228 | 5,837 | 4,286.5 | 3,869.3 | 3,204.9 | 3,635.9 | 3,007.3 | 2,659.8 | 1,576.5 | 1,752.3 | 1,384.8 | 1,449.5 | 1,248.2 | 1,166.2 | 989.5 | 975.1 | 1,085.9 | 968.0 | 822.8 | 676.0 | 637.7 | 576.6 | 496.3 | 422.4 | 386.3 | 65.5 | 58.7 | 60.5 | 69.9 | 60.7 | 29.0 |
| Non-Current Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | 1,946 | 4,570 | 3,339 | 3,412 | 2,787 | 2,806 | 3,034 | 2,361 | 2,132 | 2,107 | 2,143 | 2,441 | 2,457 | 2,590 | 2,705 | 2,478 | 2,599 | 2,197 | 1,938.6 | 1,763.0 | 1,641.8 | 844.6 | 612.8 | 605.1 | 610.0 | 624.0 | 615.7 | 619.7 | 602.1 | 596.6 | 554.8 | 333.4 | 315.0 | 312.1 | 309.4 | 306.7 | 304.5 | 301.9 | 299.5 | 296.7 | 295.7 | 0.2 | 0 | 1.4 | 0.6 | 1.1 | 0 |
| Deferred Tax Liabilities | 386 | 0 | 341 | 293 | 270 | 204 | 193 | 159 | 226 | 183 | 163 | 112 | 117 | 106 | 36 | 32 | 42 | 62 | 55.0 | 48.5 | 41.2 | 64.4 | 72.1 | 65.3 | 98.0 | 100.0 | 96.9 | 99.0 | 97.0 | 91.7 | 92.3 | 23.2 | 25.5 | 23.8 | 40.4 | 37.7 | 36.8 | 34.1 | 36.1 | 32.1 | 28.3 | 6.4 | 6.0 | 5.2 | 4.9 | 2.4 | 0 |
| Other Non-Current Liabilities | 5,352 | 947 | 565 | 375 | 471 | 248 | 242 | 239 | 313 | 211 | 116 | 187 | 188 | 87 | 80 | 77 | 92 | 55 | 57.8 | 41.9 | 44.9 | 65.4 | 55.4 | 41.1 | 32.7 | 39.4 | 38.5 | 35.1 | 45.1 | 42.7 | 39.9 | 33.1 | 40.5 | 43.5 | 39.5 | 32.0 | 22.4 | 25.0 | 29.2 | 24.4 | 20.1 | 2.8 | 4.5 | 1.4 | 1.3 | 1.1 | 0.9 |
| Total Non-Current Liabilities | 7,684 | 7,286 | 5,951 | 5,485 | 4,613 | 4,242 | 4,308 | 3,460 | 3,416 | 3,278 | 3,077 | 3,375 | 3,334 | 3,347 | 3,329 | 3,044 | 3,206 | 2,733 | 2,390.5 | 2,192.4 | 2,023.3 | 1,238.9 | 934.9 | 885.9 | 916.2 | 947.4 | 917.5 | 901.4 | 887.2 | 736.6 | 687.1 | 389.6 | 381.0 | 379.4 | 389.3 | 376.4 | 363.7 | 362.0 | 364.8 | 353.2 | 344.1 | 9.4 | 10.4 | 7.9 | 6.9 | 4.6 | 0.9 |
| Total Liabilities | 39,653 | 35,919 | 30,473 | 27,235 | 22,678 | 20,845 | 18,621 | 16,374 | 15,672 | 14,541 | 13,383 | 12,991 | 12,161 | 11,909 | 10,331 | 9,867 | 9,434 | 8,570 | 6,677.0 | 6,061.7 | 5,228.3 | 4,874.8 | 3,942.2 | 3,545.6 | 2,492.7 | 2,699.7 | 2,302.3 | 2,350.9 | 2,135.4 | 1,902.8 | 1,676.6 | 1,364.7 | 1,466.8 | 1,347.4 | 1,212.1 | 1,052.4 | 1,001.4 | 938.6 | 861.1 | 775.6 | 730.4 | 74.9 | 69.1 | 68.4 | 76.8 | 65.4 | 30.0 |
| Stockholders' Equity | |||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 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 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 6,226 | 5,809 | 5,250 | 4,829 | 4,306 | 3,812 | 3,173 | 2,776 | 2,245 | 1,901 | 1,735 | 1,376 | 1,114 | 913 | 748 | 619 | 496 | 397 | 443.5 | 348.3 | 280.1 | 314.1 | 365.0 | 350.9 | 295.9 | 322.6 | 377.6 | 524.7 | 509.5 | 503.4 | 505.8 | 515.8 | 527.1 | 537.9 | 612.3 | 591.2 | 592.5 | 550.6 | 505.9 | 473.6 | 464.4 | 39.0 | 27.3 | 17.7 | (3.5) | (10.2) | (39.7) |
| Accumulated Other Comprehensive Income | (404) | (520) | (491) | (575) | (761) | (920) | (630) | (579) | (315) | (290) | (366) | (295) | (391) | (464) | (527) | (489) | (386) | (515) | (496.1) | (446.3) | (506.1) | (468.3) | (509.5) | (505.4) | (496.7) | (406.7) | (414.4) | (388.4) | (392.6) | (391.6) | (385.8) | (386.1) | (299.2) | (282.9) | (276.8) | (270.2) | (248.3) | (259.8) | (249.0) | (247.1) | (249.3) | (25.6) | (24.4) | (23.8) | (10.2) | (14.3) | 3.2 |
| Total Stockholders' Equity | 7,281 | 6,748 | 6,218 | 5,713 | 5,004 | 4,351 | 4,002 | 3,656 | 3,390 | 3,071 | 2,741 | 2,252 | 2,040 | 1,827 | 1,631 | 1,580 | 1,589 | 1,531 | 123.0 | 81.0 | (30.4) | 1,651.6 | 1,795.5 | 1,907.1 | 1,965.4 | 2,082.0 | 2,137.0 | 2,244.6 | 2,312.7 | 336.7 | 341.8 | 154.7 | 252.9 | 325.8 | 406.2 | 459.0 | 482.2 | 428.9 | 395.0 | 364.6 | 353.1 | 133.7 | 123.2 | 114.2 | 106.4 | 95.5 | 85.5 |
| Total Liabilities & Equity | 46,934 | 42,667 | 36,691 | 32,948 | 27,682 | 25,196 | 22,623 | 20,030 | 19,062 | 17,612 | 16,124 | 15,243 | 14,201 | 13,736 | 11,962 | 11,447 | 11,023 | 10,101 | 6,800.0 | 6,142.7 | 5,197.9 | 6,526.3 | 5,737.7 | 5,452.7 | 4,458.1 | 4,781.7 | 4,439.3 | 4,595.5 | 4,448.2 | 2,239.5 | 2,018.4 | 1,519.4 | 1,719.7 | 1,673.2 | 1,618.3 | 1,511.4 | 1,483.6 | 1,367.4 | 1,256.1 | 1,140.1 | 1,083.5 | 208.6 | 192.3 | 182.6 | 183.2 | 160.9 | 115.5 |
| Debt Metrics | |||||||||||||||||||||||||||||||||||||||||||||||
| Total Debt | 2,418 | 11,392 | 9,877 | 8,979 | 7,725 | 6,850 | 6,324 | 5,403 | 5,286 | 5,333 | 5,241 | 5,528 | 5,520 | 5,414 | 5,280 | 4,058 | 3,922 | 3,982 | 3,126.5 | 2,762.3 | 2,452.7 | 1,708.1 | 1,465.2 | 1,396.3 | 1,125.0 | 1,017.4 | 908.5 | 944.2 | 898.9 | 735.2 | 696.3 | 480.0 | 449.4 | 368.4 | 334.1 | 324.9 | 321.0 | 314.5 | 305.5 | 297.5 | 299.0 | 0.2 | 0 | 4.6 | 16.1 | 19.6 | 3.1 |
| Net Debt | (12,723) | 7,722 | 7,295 | 5,971 | 4,748 | 4,215 | 4,162 | 2,585 | 2,707 | 2,777 | 3,070 | 3,668 | 3,377 | 3,504 | 3,825 | 2,729 | 2,349 | 1,397 | 2,139.3 | 1,692.4 | 1,589.9 | (148.3) | 325.5 | 226.7 | 53.8 | (367.3) | (511.5) | (174.5) | (397.0) | 294.8 | (332.2) | (9.1) | 99.0 | (19.8) | (127.1) | (57.8) | 19.6 | 80.4 | 117.6 | 153.5 | 154.1 | (31.4) | (34.6) | (45.2) | (3.3) | 2.6 | (11.5) |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||||||||||
| Net Income | 417 | 559 | 421 | 523 | 494 | 639 | 397 | 531 | 344 | 165 | 359 | 262 | 201 | 165 | 129 | 123 | 65 | (46.1) | 95.2 | 68.2 | (34.0) | (50.6) | 15.0 | 55.9 | (21.1) | (54.0) | (146.1) | 16.2 | 11.9 | (2.3) | (10.1) | (11.3) | (12.9) | (67.7) | 27.7 | 5.3 | 48.5 | 51.3 | 38.9 | 15.9 | 30.2 |
| Depreciation & Amortization | 246 | 238 | 220 | 188 | 172 | 152 | 157 | 154 | 154 | 15 | 135 | 128 | 126 | 122 | 97 | 100 | 84 | 67.2 | 52.2 | 46.1 | 38.4 | 32.6 | 28.2 | 22.7 | 21.6 | 20.8 | 19.5 | 17.3 | 15.7 | 11.9 | 11.3 | 11.5 | 11.1 | 11.0 | 10.9 | 10.1 | 9.0 | 8.3 | 7.5 | 6.9 | 6.3 |
| Stock-Based Compensation | 0 | 0 | 160 | 0 | 0 | 51 | 83 | 59 | 68 | 167 | (83) | 36 | 47 | 25 | 24 | 5 | 30 | 4.9 | 33 | 29 | 22 | 54.6 | 23.4 | 36.4 | 15.8 | 3.5 | 16.3 | 18.8 | 13.4 | (0.2) | 10.9 | 1.1 | 15.7 | 7.0 | 6.7 | 12.9 | 9.2 | 3.7 | 9.1 | 6.9 | 3.2 |
| Change in Working Capital | (143) | 2,607 | 2,099.8 | 989.4 | (456) | 882.9 | (710.1) | 409.1 | 301 | 453.4 | 75 | 491 | 65 | 830 | 115 | 220 | (754) | 513.8 | (44.3) | (46.2) | (423.7) | 115.9 | 274.1 | 495.5 | (112.7) | 106.2 | 158.3 | (21.7) | 112.1 | 48.6 | 86.8 | 156.7 | (26.8) | (1.4) | (34.4) | 70.5 | 38.3 | (20.3) | 47.8 | 8.6 | (54.5) |
| Other Non-Cash Items | 1,293 | 1,805 | 2.2 | 832.5 | 794 | 1,268.6 | 1,640.8 | 849.5 | 418 | 1,254.3 | 563 | 479 | 412 | 401 | 378.9 | 502 | 366 | 208.7 | 126.9 | 153.3 | 129.2 | 115.8 | 47.8 | 66.8 | 15.0 | 14.9 | 94.4 | 17.3 | (0.3) | (5.9) | 10.5 | 10.4 | 6.5 | 87.6 | 9.6 | 30.4 | 2.6 | (0.3) | 3.4 | 18.4 | 4.9 |
| Operating Cash Flow | 1,552 | 5,209 | 2,740.7 | 2,445.2 | 944 | 2,924 | 1,600 | 1,882 | 1,220 | 1,928 | 941 | 1,412 | 859 | 1,542 | 724 | 907 | (233) | 700.7 | 265.3 | 264 | (263.0) | 256.6 | 361.3 | 650.3 | (85.7) | 78.3 | 206.9 | 27.6 | 138.4 | 34.8 | 88.9 | 144.2 | (37.0) | 26.6 | 16.1 | 121.6 | 104.8 | 42.6 | 102.8 | 56.7 | (11.8) |
| Investing Activities | |||||||||||||||||||||||||||||||||||||||||
| Capital Expenditure | (271) | (427) | (276.7) | (264.2) | (272) | (305) | (223) | (184) | (146) | (180) | (126) | (114) | (89) | (112) | (106) | (100) | (137) | (155.6) | (171.5) | (150) | (120.5) | (87.3) | (65.0) | (49.7) | (45.3) | (36.1) | (29.4) | (38.4) | (33.0) | (28.0) | (23.0) | (23.7) | (23.0) | (22.7) | (17.6) | (21.8) | (12.8) | (15.7) | (24.1) | (22.2) | (15.4) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | (6) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (50.6) | (5.1) | (11.7) | (7.8) | 0 | 0.3 | 0.6 | (7.6) | (0.0) | (0.0) | 0 | (0.0) | (1.9) | (2.3) | (0.1) | (0.1) | (35.8) | (0.0) | (0.1) | (0.0) | 0.4 | 29.2 | (5.4) | (1.8) |
| Purchases of Investments | (2,824) | 0 | (3,696.6) | (1,944.4) | (4,242) | (4,569.5) | (3,672) | (4,373.5) | (4,095) | (857.1) | (5,529) | (4,928) | (5,132) | (3,466) | (3,076) | (3,292) | (2,905) | (871.7) | (1,299.7) | (2,800.0) | (2,419.0) | (1,603.3) | (1,274.7) | (1,002.4) | (1,323.6) | (1,228.0) | (930.1) | (708.3) | (1,624.2) | (1,361.7) | (566.0) | (615.7) | (632.7) | (1,373.0) | (994.1) | (1,288.9) | (897.6) | (953.2) | (989.0) | (917.8) | (641.3) |
| Sales/Maturities of Investments | 3,613 | 0 | 4,716.0 | 2,621.0 | 3,905 | 3,535.3 | 2,613 | 3,551.5 | 3,728 | 824.5 | 4,924 | 4,819 | 5,104 | 3,163 | 2,818 | 2,618 | 2,425 | 1,004.9 | 1,223.9 | 2,987.9 | 2,590.3 | 2,450.8 | 1,180.5 | 665.3 | 1,253.6 | 1,113.1 | 1,154.0 | 646.7 | 439.7 | 698.3 | 573.8 | 706.8 | 683.9 | 1,342.4 | 1,171.4 | 1,324.1 | 876.0 | 983.2 | 959.8 | 906.0 | 659.3 |
| Other Investing Activities | (1,989) | (1,574) | (2,049.4) | (1,512.5) | (1,233) | (778.9) | (1,362.2) | (1,088.5) | (951) | (790.7) | (599) | (445) | (421) | (231) | (300) | (563) | (607) | (636.0) | (378.3) | (172.9) | (140.9) | (174.3) | (131.2) | (11.8) | (27.2) | (23.4) | (53.0) | (54.9) | (42.6) | (1.4) | 10.7 | (14.2) | (52.1) | (25.3) | (26.8) | (15.3) | (4.8) | (7.0) | (29.2) | (11.8) | 18.0 |
| Investing Cash Flow | (1,471) | (2,001) | (765.8) | (1,100.1) | (1,842) | (2,128) | (2,608) | (2,085) | (1,466) | (914) | (1,330) | (668) | (538) | (646) | (664) | (1,337) | (1,224) | (709.1) | (631) | (158.6) | (97.9) | 585.9 | (290.1) | (397.9) | (150.1) | (174.4) | 141.6 | (154.9) | (1,260.1) | (694.6) | (6.7) | 53.0 | (24.1) | (114.5) | 132.9 | (1.9) | (39.1) | 7.7 | (53.3) | (39.4) | 0.8 |
| Financing Activities | |||||||||||||||||||||||||||||||||||||||||
| Net Debt Issuance | 996 | 1,382 | 317.5 | 613 | 552 | 757 | 726 | 734.8 | 292 | 73 | 281 | (214) | (51) | 21 | 383 | 469 | 191 | 785 | 425 | 121 | (733) | 134.7 | 45.5 | 270.8 | 155.6 | 88.9 | 26.6 | 30.0 | 9.5 | 35.4 | 477.5 | 55.4 | 76.3 | 34.1 | 4.0 | 3.4 | 1.4 | 7.4 | 3.7 | (5.6) | (0.7) |
| Stock Repurchased | 0 | 0 | (0.9) | 0 | 0 | 0.0 | 0.1 | (1) | 0 | 32.6 | (149) | (146) | (61) | (33) | (41) | (35) | (39) | (46) | (298) | (117) | (25) | (14.4) | (39.0) | (0.7) | 0 | 77.0 | (0.7) | 0 | 0 | 0 | 0 | 0 | (45.7) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.4) | (1) | (1) | (1) | (1) | (1) | (0.8) | 0 | 0 | 0 | 0 | (6.6) | (6.6) | (6.6) | (6.6) | (6.6) | (6.6) | (6.6) | (6.6) | (4.5) |
| Other Financing Activities | 0 | 0 | (398.1) | 267.2 | 0 | (0.0) | (0.1) | (257.8) | 0 | (32.6) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,520 | 295 | 99 | (101) | (120.0) | (82.7) | (104.1) | 0 | 28.1 | 0 | (88.4) | 0 | 2.9 | 13.7 | 0 | 0 | 0 | (67.3) | 0 | 0 | 0 | 0 | 0 | 0 |
| Financing Cash Flow | 996 | 1,382 | (81.5) | 880.2 | 552 | 757 | 726 | 476 | 292 | 73 | 132 | (360) | (112) | (12) | 342 | 434 | 152 | 2,259 | 422 | 103 | (859) | (0.1) | (77.1) | 164.9 | 154.6 | 79.9 | 24.9 | (58.5) | 1,974.7 | 38.3 | 491.1 | 55.4 | 24.0 | 27.4 | (69.9) | (3.2) | (5.2) | 0.7 | (2.9) | (12.3) | (5.2) |
| Cash Position | |||||||||||||||||||||||||||||||||||||||||
| Net Change in Cash | 1,152 | 4,338 | 3,162 | 2,917 | (201) | 1,221 | (345) | 5 | (30) | 592 | (568) | 300 | 161 | 835 | 275 | (161) | (1,234) | 2,225.4 | (8) | 242.7 | (1,319.9) | 884.1 | (39.2) | 398.0 | (186.0) | (5.5) | 328.6 | (177.9) | 841.6 | (613.0) | 553.7 | 173.6 | (37.8) | (72.9) | 78.4 | 81.4 | 67.2 | 46.1 | 44.0 | (0.9) | (22.0) |
| Cash at Beginning | 12,967 | 9,199 | 6,037 | 3,971 | 4,699 | 3,478 | 3,823 | 3,818 | 3,848 | 3,256 | 3,824 | 3,524 | 3,363 | 2,528 | 2,253 | 2,414 | 3,648 | 1,422.6 | 1,431.1 | 1,188.4 | 2,508.2 | 1,624.1 | 1,663.4 | 1,265.4 | 1,451.4 | 1,457.0 | 1,128.3 | 1,306.3 | 464.7 | 1,077.7 | 524.0 | 350.4 | 388.3 | 461.2 | 382.8 | 301.4 | 234.1 | 188.0 | 144.0 | 144.9 | 166.9 |
| Cash at End | 14,119 | 13,537 | 9,199 | 6,888 | 4,498 | 4,699 | 3,478 | 3,823 | 3,818 | 3,848 | 3,256 | 3,824 | 3,524 | 3,363 | 2,528 | 2,253 | 2,414 | 3,648.0 | 1,422.6 | 1,431.1 | 1,188.4 | 2,508.2 | 1,624.1 | 1,663.4 | 1,265.4 | 1,451.4 | 1,457.0 | 1,128.3 | 1,306.3 | 464.7 | 1,077.7 | 524.0 | 350.4 | 388.3 | 461.2 | 382.8 | 301.4 | 234.1 | 188.0 | 144.0 | 144.9 |
| Free Cash Flow | 1,281 | 4,782 | 2,464.0 | 2,180.9 | 672 | 2,619 | 1,377 | 1,698 | 1,074 | 1,748 | 815 | 1,298 | 770 | 1,430 | 618 | 807 | (370) | 545.1 | 93.8 | 114 | (383.5) | 169.3 | 296.3 | 600.7 | (130.9) | 42.2 | 177.5 | (10.9) | 105.4 | 6.8 | 65.9 | 120.4 | (60.0) | 3.9 | (1.5) | 99.8 | 92.0 | 26.9 | 78.7 | 34.5 | (27.2) |
| Key Metrics | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 | 2022 Q3 | 2022 Q2 | 2022 Q1 | 2021 Q4 | 2021 Q3 | 2021 Q2 | 2021 Q1 | 2020 Q4 | 2020 Q3 | 2020 Q2 | 2020 Q1 | 2019 Q4 | 2019 Q3 | 2019 Q2 | 2019 Q1 | 2018 Q4 | 2018 Q3 | 2018 Q2 | 2018 Q1 | 2017 Q4 | 2017 Q3 | 2017 Q2 | 2017 Q1 | 2016 Q4 | 2016 Q3 | 2016 Q2 | 2016 Q1 | 2015 Q4 | 2015 Q3 | 2015 Q2 | 2015 Q1 | 2014 Q4 | 2014 Q3 | 2014 Q2 | 2014 Q1 | 2013 Q4 | 2013 Q3 | 2013 Q2 | 2013 Q1 | 2012 Q4 | 2012 Q3 | 2012 Q2 | 2012 Q1 | 2011 Q4 | 2011 Q3 | 2011 Q2 | 2011 Q1 | 2010 Q4 | 2010 Q3 | 2010 Q2 | 2010 Q1 | 2009 Q4 | 2009 Q3 | 2009 Q2 | 2009 Q1 | 2008 Q4 | 2008 Q3 | 2008 Q2 | 2008 Q1 | 2007 Q4 | 2007 Q3 | 2007 Q2 | 2007 Q1 | 2006 Q4 | 2006 Q3 | 2006 Q2 | 2006 Q1 | 2005 Q4 | 2005 Q3 | 2005 Q2 | 2005 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue | 8,845 | 8,759 | 7,409 | 6,790 | 5,935 | 6,059 | 5,312 | 5,073 | 4,333 | 4,261 | 3,927 | 3,585 | 3,186 | 3,002 | 2,690 | 2,597 | 2,248 | 2,130.8 | 1,858 | 1,703 | 1,378 | 1,327.3 | 1,115.7 | 878.4 | 652.1 | 674.3 | 603.0 | 545.2 | 473.8 | 428.0 | 355.3 | 335.4 | 321.0 | 437.0 | 304.9 | 283.9 | 269.7 | 256.3 | 230.8 | 199.6 | 157.6 | 180.7 | 168.6 | 154.3 | 148.1 | 161.4 | 147.9 | 131.8 | 115.4 | 134.6 | 123.1 | 112.2 | 102.7 | 103.8 | 97.3 | 88.8 | 83.7 | 86.5 | 81.6 | 69.4 | 61.5 | 62.3 | 56.0 | 52.5 | 45.9 | 49.0 | 50.6 | 40.9 | 32.3 | 33.4 | 40.3 | 34.5 | 28.8 | 26.9 | 22.8 | 19.0 | 16.5 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Gross Profit | 3,862 | 3,784 | 3,209 | 3,094 | 2,771 | 2,749 | 2,439 | 2,365 | 2,024 | 1,955 | 2,095 | 1,831 | 1,614 | 1,458 | 1,348 | 1,284 | 1,073 | 853.2 | 807 | 754 | 591 | 489.0 | 480.2 | 427.2 | 312.8 | 308.3 | 284.3 | 272.4 | 237.0 | 204.8 | 169.7 | 159.7 | 162.8 | 203.4 | 175.8 | 171.6 | 168.9 | 162.7 | 145.6 | 126.3 | 102.2 | 117.6 | 111.8 | 104.0 | 103.4 | 113.7 | 104.5 | 95.5 | 83.8 | 98.4 | 88.9 | 81.1 | 74.1 | 76.4 | 71.6 | 65.0 | 62.6 | 65.7 | 61.6 | 52.4 | 47.1 | 48.5 | 44.5 | 41.1 | 36.0 | 38.7 | 40.2 | 32.3 | 25.7 | 27.0 | 32.1 | 27.6 | 22.8 | 20.7 | 17.6 | 14.9 | 12.9 | 13.7 | 13.7 | 13.7 | 11.0 | 7.1 | 7.1 | 7.1 | 7.1 |
| Operating Income | 611 | 889 | 724 | 825 | 763 | 820 | 557 | 726 | 528 | 240 | 785 | 669 | 418 | 349 | 296 | 250 | 139 | 23.3 | 160 | 166 | 91 | (25.1) | 83.1 | 99.4 | (29.7) | (68.9) | (81.9) | (12.5) | 10.1 | (0.8) | (11.0) | (28.2) | (29.4) | (64.6) | 27.5 | 30.0 | 63.3 | 64.7 | 53.7 | 32.2 | 30.5 | 33.7 | 45.3 | 34.6 | 25.6 | 45.2 | 47.1 | (5.9) | 34.0 | 52.1 | 37.4 | 35.4 | 28.6 | 39.1 | 33.7 | 31.9 | 24.9 | 29.0 | 30.0 | 21.6 | 19.3 | 21.0 | 19.3 | 18.8 | 15.5 | 17.9 | 19.0 | 12.4 | 6.8 | 11.2 | 11.7 | 8.1 | 6.5 | 7.3 | 6.0 | 4.7 | 2.9 | (33.0) | 13.7 | 13.7 | 11.0 | (20.4) | 7.1 | 7.1 | 7.1 |
| Net Income | 417 | 559 | 421 | 523 | 494 | 639 | 397 | 531 | 344 | 165 | 359 | 262 | 201 | 165 | 129 | 123 | 65 | (46.1) | 95 | 68 | (34) | (50.6) | 15.0 | 55.9 | (21.1) | (54.0) | (146.1) | 16.2 | 11.9 | (2.3) | (10.1) | (11.3) | (12.9) | (67.7) | 27.7 | 5.3 | 48.5 | 51.3 | 38.9 | 15.9 | 30.2 | 39.0 | 45.6 | 19.5 | 1.7 | 34.1 | 33.8 | (25.6) | 30.3 | 40.8 | 29.3 | 30.0 | 17.5 | 30.2 | 26.0 | 25.4 | 19.6 | 21.6 | 26.3 | 14.8 | 14.1 | 15.9 | 18.8 | 11.7 | 9.6 | 11.3 | 9.9 | 6.7 | 5.4 | 7.9 | 5.9 | 2.9 | 2.1 | 5.3 | 2.8 | 0.6 | 1.0 | 0.3 | 0.3 | 0.3 | 0.1 | 0.6 | 0.6 | 0.6 | 0.6 |
| EPS (Diluted) | 8.23 | 11.03 | 8.30 | 10.32 | 9.74 | 12.60 | 7.83 | 10.47 | 6.79 | 3.25 | 7.15 | 5.12 | 3.92 | 3.22 | 2.51 | 2.44 | 1.29 | -0.94 | 1.92 | 1.37 | -0.68 | -1.02 | 0.30 | 1.13 | -0.42 | -1.09 | -2.94 | 0.33 | 0.26 | -0.05 | -0.23 | -0.25 | -0.29 | -1.53 | 0.63 | 0.12 | 1.10 | 1.16 | 0.88 | 0.36 | 0.68 | 0.88 | 1.03 | 0.44 | 0.04 | 0.77 | 0.76 | -0.58 | 0.69 | 0.92 | 0.66 | 0.68 | 0.40 | 0.68 | 0.59 | 0.57 | 0.44 | 0.49 | 0.60 | 0.34 | 0.32 | 0.36 | 0.43 | 0.26 | 0.22 | 0.26 | 0.22 | 0.15 | 0.12 | 0.18 | 0.13 | 0.07 | 0.05 | 0.11 | 0.10 | 0.04 | 0.07 | 0.02 | 0.02 | 0.02 | 0.01 | 0.04 | 0.04 | 0.04 | 0.04 |
| Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Equivalents | 15,141 | 3,670 | 2,582 | 3,008 | 2,977 | 2,635 | 2,162 | 2,818 | 2,579 | 2,556 | 2,171 | 1,860 | 2,143 | 1,910 | 1,455 | 1,329 | 1,573 | 2,585 | 987.2 | 1,069.9 | 862.7 | 1,856.4 | 1,139.7 | 1,169.5 | 1,071.2 | 1,384.7 | 1,419.9 | 1,118.7 | 1,295.9 | 440.3 | 1,028.6 | 489.2 | 350.4 | 388.3 | 461.2 | 382.8 | 301.4 | 234.1 | 188.0 | 144.0 | 144.9 | 31.6 | 34.6 | 49.8 | 19.4 | 17.0 | 14.5 | ||||||||||||||||||||||||||||||||||||||
| Total Assets | 46,934 | 42,667 | 36,691 | 32,948 | 27,682 | 25,196 | 22,623 | 20,030 | 19,062 | 17,612 | 16,124 | 15,243 | 14,201 | 13,736 | 11,962 | 11,447 | 11,023 | 10,101 | 6,800.0 | 6,142.7 | 5,197.9 | 6,526.3 | 5,737.7 | 5,452.7 | 4,458.1 | 4,781.7 | 4,439.3 | 4,595.5 | 4,448.2 | 2,239.5 | 2,018.4 | 1,519.4 | 1,719.7 | 1,673.2 | 1,618.3 | 1,511.4 | 1,483.6 | 1,367.4 | 1,256.1 | 1,140.1 | 1,083.5 | 208.6 | 192.3 | 182.6 | 183.2 | 160.9 | 115.5 | ||||||||||||||||||||||||||||||||||||||
| Total Debt | 2,418 | 11,392 | 9,877 | 8,979 | 7,725 | 6,850 | 6,324 | 5,403 | 5,286 | 5,333 | 5,241 | 5,528 | 5,520 | 5,414 | 5,280 | 4,058 | 3,922 | 3,982 | 3,126.5 | 2,762.3 | 2,452.7 | 1,708.1 | 1,465.2 | 1,396.3 | 1,125.0 | 1,017.4 | 908.5 | 944.2 | 898.9 | 735.2 | 696.3 | 480.0 | 449.4 | 368.4 | 334.1 | 324.9 | 321.0 | 314.5 | 305.5 | 297.5 | 299.0 | 0.2 | 0 | 4.6 | 16.1 | 19.6 | 3.1 | ||||||||||||||||||||||||||||||||||||||
| Stockholders' Equity | 7,281 | 6,748 | 6,218 | 5,713 | 5,004 | 4,351 | 4,002 | 3,656 | 3,390 | 3,071 | 2,741 | 2,252 | 2,040 | 1,827 | 1,631 | 1,580 | 1,589 | 1,531 | 123.0 | 81.0 | (30.4) | 1,651.6 | 1,795.5 | 1,907.1 | 1,965.4 | 2,082.0 | 2,137.0 | 2,244.6 | 2,312.7 | 336.7 | 341.8 | 154.7 | 252.9 | 325.8 | 406.2 | 459.0 | 482.2 | 428.9 | 395.0 | 364.6 | 353.1 | 133.7 | 123.2 | 114.2 | 106.4 | 95.5 | 85.5 | ||||||||||||||||||||||||||||||||||||||
| Cash Flow | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Cash Flow | 1,552 | 5,209 | 2,740.7 | 2,445.2 | 944 | 2,924 | 1,600 | 1,882 | 1,220 | 1,928 | 941 | 1,412 | 859 | 1,542 | 724 | 907 | (233) | 700.7 | 265.3 | 264 | (263.0) | 256.6 | 361.3 | 650.3 | (85.7) | 78.3 | 206.9 | 27.6 | 138.4 | 34.8 | 88.9 | 144.2 | (37.0) | 26.6 | 16.1 | 121.6 | 104.8 | 42.6 | 102.8 | 56.7 | (11.8) | ||||||||||||||||||||||||||||||||||||||||||||
| Capital Expenditure | (271) | (427) | (276.7) | (264.2) | (272) | (305) | (223) | (184) | (146) | (180) | (126) | (114) | (89) | (112) | (106) | (100) | (137) | (155.6) | (171.5) | (150) | (120.5) | (87.3) | (65.0) | (49.7) | (45.3) | (36.1) | (29.4) | (38.4) | (33.0) | (28.0) | (23.0) | (23.7) | (23.0) | (22.7) | (17.6) | (21.8) | (12.8) | (15.7) | (24.1) | (22.2) | (15.4) | ||||||||||||||||||||||||||||||||||||||||||||
| Free Cash Flow | 1,281 | 4,782 | 2,464.0 | 2,180.9 | 672 | 2,619 | 1,377 | 1,698 | 1,074 | 1,748 | 815 | 1,298 | 770 | 1,430 | 618 | 807 | (370) | 545.1 | 93.8 | 114 | (383.5) | 169.3 | 296.3 | 600.7 | (130.9) | 42.2 | 177.5 | (10.9) | 105.4 | 6.8 | 65.9 | 120.4 | (60.0) | 3.9 | (1.5) | 99.8 | 92.0 | 26.9 | 78.7 | 34.5 | (27.2) | ||||||||||||||||||||||||||||||||||||||||||||