Republic Services, Inc. logo RSG - Republic Services, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 19
HOLD 16
SELL 0
STRONG
SELL
0
| PRICE TARGET: $239.29 DETAILS
HIGH: $255.00
LOW: $223.00
MEDIAN: $242.00
CONSENSUS: $239.29
UPSIDE: 14.53%
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 4,113 4,135 4,212 4,235 4,009 4,046 4,076.2 4,048 3,861.7 3,831.6 3,825.9 3,725.9 3,581.1 3,529.7 3,597.8 3,413.6 2,970.1 2,952.9 2,933.9 2,812.8 2,596.4 2,573.3 2,572.1 2,454.4 2,553.9 2,576.7 2,646.9 2,605.3 2,470.6 2,529.6 2,565.3 2,517.5 2,427.5 2,560 2,563.3 2,527.7 2,393.5 2,379.1 2,409.3 2,350.7 2,248.6 2,290.2 2,344 2,311.4 2,169.4 2,225.2 2,264.1 2,225.3 2,073.7 2,141.5 2,165.4 2,111.7 1,998.6 2,028.3 2,046.9 2,060.6 1,982.4 2,025.2 2,116.2 2,086.6 1,964.9 2,020.8 2,061.7 2,066.4 1,957.7 1,999 2,073.5 2,066.1 2,060.5 1,244.4 834 827.5 779.2 796 806.2 808.4 765.6 766.2 787.1 779.8 737.5 738.1 730 718.6 677.2 687.7 699.9 683.2 637.3 637.9 637.3 605.3 598.2 563.5 576 535.4 529.1 539.1 533.5 501.5
Cost of Revenue 2,857 2,404 2,463 2,449 2,314 2,787 2,815.6 2,822.3 2,709 2,690.8 2,691.2 2,607.2 2,552.3 2,553.8 2,569.1 2,065.7 2,095.7 2,129.7 2,066.1 1,974.4 1,836.9 1,835.2 1,826.8 1,467.9 1,847.6 1,838 1,919.2 1,901.7 1,778.1 1,759.3 1,861.1 1,854 1,754.1 1,880 1,860.1 1,834.4 1,753 1,723.1 1,740.8 1,440.7 1,381.4 1,403.7 1,390.2 1,420.4 1,304.3 1,536.5 1,397.3 1,373 1,321.2 1,284 1,317.6 1,410 1,223.1 1,283.5 1,280.5 1,241 1,203.2 1,207.6 1,260 1,237.8 1,159.7 1,184.8 1,224.9 1,218.3 1,136.8 1,201.1 1,207.5 1,226.9 1,208.7 863.2 499.5 577.5 476.5 495.5 518.8 496.3 486.7 482.3 493.2 492.5 456.4 471 462.9 451.3 418.7 437.7 442 431.2 403.5 404.7 399.3 381.8 371.5 380.1 354.5 340.7 319.7 324.9 320.5 306.1
Gross Profit 1,256 1,731 1,749 1,786 1,695 1,259 1,260.6 1,225.7 1,152.7 1,140.8 1,134.7 1,118.7 1,028.8 975.9 1,028.7 1,347.9 874.4 823.2 867.8 838.4 759.5 738.1 745.3 986.5 706.3 738.7 727.7 703.6 692.5 770.3 704.2 663.5 673.4 680 703.2 693.3 640.5 656 668.5 910 867.2 886.5 953.8 891 865.1 688.7 866.8 852.3 752.5 857.5 847.8 701.7 775.5 744.8 766.4 819.6 779.2 817.6 856.2 848.8 805.2 836 836.8 848.1 820.9 797.9 866 839.2 851.8 381.2 334.5 250 302.7 300.5 287.4 312.1 278.9 283.9 293.9 287.3 281.1 267.1 267.1 267.3 258.5 250 257.9 252 233.8 233.2 238 223.5 226.7 183.4 221.5 194.7 209.4 214.2 213 195.4
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 425 423 413 417 417 447 406 407.6 414 407.6 395.9 396 379.2 366.5 362.8 328.8 307.8 315.5 299 315.8 265.4 251.9 256.1 251.1 273 274 273.5 262.6 266.4 272.5 260.9 252.9 261.2 274.2 266.7 262.9 253.5 249.6 235.4 236.5 236.6 258.2 237.9 230 234.3 248.8 221.1 216 210.4 201.5 209 223.6 203.6 198.3 193.8 198 222.5 213.9 207.5 200.1 203.9 167 229.5 231 230.5 243.1 225.4 237.7 240.8 182.7 85.6 83.7 82.7 84.5 76.8 77.9 81.1 78.5 79.6 75.1 81.8 87.6 71.8 73.7 74.4 83.9 68.7 66.9 62.5 65.5 62 58.6 61 66.8 55.8 56.5 55.9 49.4 47.9 47.4
Other Expenses 0 501 497 499 471 0 0 0 0 19.1 0 0 0 25 0 429.5 0 0 0 0 0 4.4 0 340 4.3 0 0 0 0 0 0 0 0 0.1 0 0 267.1 0 0 291.4 285.1 274.4 273 271.8 258 273.5 263 258 236 253.4 286.5 296.9 297.7 257.8 254.5 234.6 229.8 236.9 240.2 247.5 225.1 279.6 239.7 216.3 209.1 225.6 253.7 80.8 258 310.1 81.9 80.7 77.8 76.1 82.3 81.1 83.1 75.7 80.9 78.2 76.9 64.1 75.9 70.7 64.6 56.5 72.7 68.9 61.3 61.2 62.5 46.8 49.4 54.6 53.9 39.3 51.3 50.6 49.2 46.3
Operating Expenses 425 924 910 916 888 447 406 407.6 414 426.7 395.9 396 379.2 391.5 362.8 758.3 307.8 315.5 299 315.8 265.4 256.3 256.1 591.1 277.3 274 273.5 262.6 266.4 272.5 260.9 252.9 261.2 274.3 266.7 262.9 520.6 249.6 235.4 527.9 521.7 532.6 510.9 501.8 492.3 522.3 484.1 474 446.4 454.9 495.5 520.5 501.3 456.1 448.3 432.6 452.3 450.8 447.7 447.6 429 446.6 469.2 447.3 439.6 468.7 479.1 318.5 498.8 492.8 167.5 164.4 160.5 160.6 159.1 159 164.2 154.2 160.5 153.3 158.7 151.7 147.7 144.4 139 140.4 141.4 135.8 123.8 126.7 124.5 105.4 110.4 121.4 109.7 95.8 107.2 100 97.1 93.7
Operating Income
Operating Income 831 807 839 870 807 812 854.6 818.1 738.7 714.1 738.8 722.7 649.6 584.4 665.9 589.6 566.6 507.7 568.8 522.6 494.1 481.8 489.2 395.4 429 464.7 454.2 441 426.1 497.8 443.3 410.6 412.2 405.7 436.5 430.4 385.9 406.4 433.1 382.1 345.5 353.9 442.9 389.2 372.8 166.4 382.4 378.3 306.1 402.6 352.3 181.2 274.2 288.8 317.9 387 326.9 366.8 408.5 401.2 376.2 389.4 367.6 400.8 381.3 329.2 386.9 520.7 353 (111.6) 167 85.6 142.2 139.9 128.3 153.1 114.7 129.7 133.4 134 122.4 115.4 119.4 122.9 119.5 109.6 116.5 116.2 110 106.5 113.5 118.1 116.3 62 111.8 98.9 102.2 114.2 115.9 101.7
Interest Expense 150 146 143 145 140 133.7 136.3 128.3 139.3 135.5 130.1 124.4 126.7 102.5 105.6 94 83.5 62.8 78.9 79.9 79.3 70.7 90.3 87 83.9 92.5 99.3 99.1 100.6 97.1 96.3 96.2 94.3 93.2 90.4 90.4 90.1 109 90 92.2 92.7 92.9 91.8 91.5 88.6 87.9 87 86.9 87 90.2 90 90.2 89.6 92.2 93.2 98.8 104.3 104.8 108.3 111.4 115.7 120.4 122 130.5 134.5 147.1 144.8 150.5 153.5 0 22.6 21.1 21.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 2 2 2 2 2 2 4.3 1.6 1.5 1.5 2 1.6 1.4 1.4 0.8 0.7 0.5 0.6 0.6 0.6 0.8 1.1 0.5 3.3 0.3 1 2 1.4 1.9 0.6 0.5 0.2 0.2 0 0.3 0.3 0.3 0 0.2 0.2 0.5 0.2 0.1 0.1 0.3 0 0.1 0.3 0.1 0.2 0.1 0.1 0.3 0.2 0.3 0.2 0.3 0 0 0.1 0.2 0.2 0.4 0.1 0 0.3 0.5 0.5 0.7 0 2.6 2.5 2.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 1,322 1,196 1,276 1,357 1,267 1,135.7 1,231.5 1,222 1,164 1,045.1 1,143.3 1,087.4 1,031.6 848.4 990.1 932.1 887.8 659.5 871.7 831 782 560 700.4 681.8 696 655.3 756.6 712.4 685.4 726.9 719.1 684.5 688.4 676.1 727.9 702 656.2 668.9 489 666.5 626 622.9 659.7 654.8 625.9 452.3 637.8 631.3 538.7 677.6 653.5 407.3 491.6 599.1 527.6 641.5 548.5 584.3 619.3 411.3 582.2 586.5 563.3 614.6 453.7 555.1 575.2 741.2 575.7 98.3 245.3 165 218.6 211.5 206.3 230 193.7 201.3 210.3 208.4 195.5 190.2 192.2 194.4 181.7 81.9 185.8 181.9 168.7 167.7 172.9 170.5 165.7 216.7 165.7 149.2 153.5 164.8 165.1 148
EBIT 831 710 788 865 805 665.7 782.8 782.3 738.2 618.4 736.4 704.6 648.8 475.9 613.4 572.1 555.7 339.7 549.6 507.3 479.4 272 409 391.9 406.5 377.5 468.8 427.7 413.4 454.5 436.6 408.8 404.9 388.9 447.1 423.8 386.3 403.7 216.9 374.3 335.6 344.8 432.4 380.1 363.8 157.3 372.9 368 297.6 393.4 343.3 171.1 262.8 245.1 304.4 265.9 315.1 363.8 404.3 202.7 375.7 381.2 351.7 400.8 250.7 227.6 356.9 522.5 353.9 (28.9) 168 88.8 145.2 139.9 128.3 153.1 114.7 129.7 133.4 134 122.4 115.4 119.4 122.9 119.5 109.6 116.5 116.2 110 106.5 113.5 118.1 116.3 62 111.8 98.9 102.2 114.2 115.9 101.7
Income Before Tax 656 564 645 720 665 532.7 646.5 654 598.9 482.9 606.3 580.2 522.1 373.4 507.8 478.1 472.2 276.9 470.7 427.4 400.1 201.3 318.7 300.1 322.6 285 369.5 328.6 312.8 357.4 340.3 312.6 310.6 295.7 356.7 333.4 296.2 294.7 126.9 291.7 252.6 261.9 350.8 298.7 284.5 79.1 295.4 290.7 220.2 313.4 263.4 91.1 183.3 199.1 223.1 178.6 223.1 259 296 91.3 260 260.8 229.7 270.3 116.2 80.5 212.1 372 200.4 (177.6) 145.4 67.7 123.8 131 109 133.7 94.4 108.9 116.4 114.2 104.2 96.8 102.9 103.9 105.6 92.9 100.8 98.2 91.8 89.9 97.5 99.2 98.4 (55.9) 93.7 80 88.9 89.5 96.2 81.6
Income Tax Expense 131 20 95 170 170 20.2 80.6 142.1 145.2 43.2 126 152.6 138.2 26.4 90.9 106.3 120.3 (36.2) 119.9 95.4 103.7 (35) 58.5 73.8 75.8 (5) 71.5 77.7 77.9 56.3 77.4 76.9 72.7 (368.8) 133.4 130 108.4 105.1 41.2 110.7 95.7 89.5 135.6 108.4 112 28.6 109.6 111.7 87.6 76.7 92.3 34.7 58.4 72.1 70.3 29.1 80.3 68 102.4 45.1 101.9 112.9 95.2 110.4 51 44.6 91.1 145.8 87 (46) 56.7 27 47.7 48.9 42 46.5 40.5 42 39.1 43.4 39.6 36.8 39.1 39.5 40.1 35.3 38.3 37.3 34.9 34.2 37.1 37.7 37.4 (17) 35.6 30.4 32.4 34.5 37 31.4
Net Income 525 544 550 550 495 512 565.7 511.5 453.8 439.6 480.2 427.4 383.9 346.8 416.9 371.9 352 313.1 350.3 331.1 295.9 235.5 260 225.5 246.3 289.3 298.3 251.5 234.2 301 263.4 234.9 237.7 664.4 223.2 202.9 187.8 189.5 85.6 180.8 156.7 172.3 215 190.3 172.4 50.3 185.8 179 132.5 236.6 171.4 56.3 124.6 127 152.7 149.2 142.9 191 193.5 46.5 158.2 147.6 134.2 159.7 65 35.6 120.5 225.9 113 (131.7) 88.7 40.7 76.1 82.1 67 87.2 53.9 66.9 77.3 70.8 64.6 60 63.8 64.4 65.5 57.6 62.5 60.9 56.9 55.7 60.4 61.5 61 (38.9) 58.1 49.6 56.5 55 59.2 50.2
Per Share Data
EPS (Basic) 1.70 1.76 1.76 1.76 1.58 1.63 1.80 1.62 1.44 1.40 1.52 1.35 1.21 1.10 1.32 1.18 1.11 0.99 1.10 1.04 0.93 0.74 0.81 0.71 0.77 0.91 0.93 0.78 0.73 0.93 0.81 0.72 0.72 1.99 0.66 0.60 0.55 0.56 0.25 0.53 0.45 0.50 0.62 0.54 0.49 0.14 0.52 0.50 0.37 0.66 0.47 0.16 0.34 0.35 0.42 0.41 0.39 0.51 0.52 0.12 0.41 0.39 0.35 0.42 0.17 0.09 0.32 0.60 0.30 -0.35 0.49 0.22 0.41 0.45 0.36 0.45 0.28 0.35 0.39 0.35 0.31 0.29 0.31 0.30 0.29 0.26 0.27 0.27 0.24 0.24 0.25 0.25 0.24 -0.15 0.23 0.19 0.22 0.21 0.23 0.19
EPS (Diluted) 1.70 1.76 1.76 1.75 1.58 1.63 1.80 1.62 1.44 1.39 1.52 1.35 1.21 1.09 1.32 1.17 1.11 0.98 1.10 1.03 0.93 0.74 0.81 0.71 0.77 0.90 0.93 0.78 0.72 0.92 0.81 0.71 0.72 1.98 0.66 0.60 0.55 0.55 0.25 0.52 0.45 0.49 0.61 0.54 0.49 0.14 0.52 0.50 0.37 0.65 0.47 0.15 0.34 0.35 0.42 0.40 0.38 0.51 0.52 0.12 0.41 0.39 0.35 0.42 0.17 0.09 0.32 0.59 0.30 -0.35 0.48 0.22 0.41 0.45 0.35 0.45 0.28 0.35 0.39 0.35 0.31 0.29 0.30 0.29 0.29 0.26 0.27 0.26 0.24 0.24 0.25 0.25 0.24 -0.15 0.23 0.19 0.22 0.21 0.23 0.19
Shares Outstanding 309.1 309.7 311.7 313.1 313 314.4 314 314.9 315.3 315.1 316.1 316.8 316.7 316.5 316.5 316.5 316.6 317.6 318.6 319.5 319.4 319.3 319.2 319.0 319.6 319.6 320.6 321.7 322.3 324.1 325.5 327.4 330.7 333.7 336.5 338.1 339.9 340.2 342.6 343.9 345.4 347 348.9 350.7 353.3 354.4 356.3 356.2 359.8 361 361.7 362.9 362.7 363.2 365.4 367.9 371 370.3 373.2 378.2 382.2 382.2 384 382.5 381.4 380.9 379.7 379.2 378.9 378.9 182.3 182 183.4 183.4 187.8 192.7 193.7 186.7 197.6 202.5 206.4 206.4 210 213.8 222.3 222.3 226.9 229.7 234 234 243.8 244.9 251.2 253.7 257.1 257.7 257.7 263.6 263.9 263.2
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
Current Assets
Cash & Cash Equivalents 118 76 84 122 83 74 83.4 490.6 91.6 140 157.5 181.6 132.2 143.4 81.4 119.4 39 29 40.1 34 23.2 38.2 406.4 269.7 281.6 47.1 55.6 72.5 68 70.5 81.9 61.3 62.6 83.3 63.9 36 33.2 67.8 55 42 33.4 56 81.4 48 67.6 193.5 22.6 65.7 174.2 119.2 247.6 166.1 141.5 62.9 0 9.1 19.4 2 4.8 0 0 13.1 9.8 44.9 15.3 556.6 21.4 17.1
Short-Term Investments 292 259 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10.3 0 0 0 0 0
Net Receivables 1,917 1,897 1,900 2,051 1,977 2,071 1,976.8 1,942.6 1,919.3 1,992 1,927.8 1,876.7 1,875.4 1,982.9 1,853 1,805 1,473.2 1,508.4 1,342.4 1,299.6 1,259.2 1,328.3 1,199.2 1,161.2 1,295.5 1,402.6 1,250.9 1,265.6 1,234.6 1,350.5 1,246.5 1,176.3 1,147.7 1,217.3 1,193.9 1,137.3 1,077.1 1,092.7 1,109.8 1,106.1 1,038.7 898.4 850.7 922.2 913.5 877.6 320.1 269.2 250 248.9 264.6 251.3 238.6 249.7 271.5 268.9 250.6 241.3 260.8 246.8 244.5 250.9 249.8 234.3 207.8 182.7 162.5 155.8
Inventory 0 0 321 104 102 98 97.7 99.9 101.4 98 100 96.1 97.9 96.6 101.1 100.2 80.5 72.2 68.2 63.9 61.1 59.1 58.8 58.5 57.1 56.8 55.3 56.2 55.4 53.1 55.4 52.8 52.3 51.2 47.8 45.4 45 44 43.7 41.9 38.8 31.9 0 33.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12.6 11.8
Other Current Assets 183 291 9 9 8 9 7.3 7.9 12.4 11 14.1 6.4 6.2 5.5 5.4 5.3 1.1 3 6 7.1 6 6.7 6 4.7 8 11.6 12.3 4.5 4 4.5 4.1 6.3 5.4 6.4 4.9 4.4 4.9 5.5 6.8 6.1 4.6 245.2 198.2 201.7 135.1 125.9 25 8.4 8.5 5.8 8.9 9.2 9.2 0 0 0 64.4 162.5 108.4 92.7 69.6 68 52.2 46.6 50.5 44.7 27.5 30.3
Total Current Assets 2,510 2,523 2,484 2,416 2,321 2,406 2,348.4 2,659.7 2,273.6 2,381 2,348.4 2,261.7 2,241.4 2,357.1 2,199.4 2,140.6 1,695.8 1,710.8 1,569.4 1,480.9 1,443.1 1,521.8 1,774.3 1,568.8 1,753.9 1,606 1,473.9 1,474.1 1,444.6 1,564.4 1,492.1 1,369.4 1,354 1,436.8 1,396.7 1,292.8 1,234.4 1,284.5 1,301.6 1,259.4 1,183.3 1,288.7 1,266 1,264.9 1,252.9 1,363.9 432.7 419.5 554.4 556 585 495.7 452.3 383.6 348.4 350.9 402.7 405.8 374 339.5 314.1 332 322.1 325.8 273.6 784 224 215
Non-Current Assets
Property, Plant & Equipment 12,695 12,639 12,192 12,285 12,184 12,109 11,756.2 11,677.7 11,539.4 11,589 10,939.4 10,800.4 10,922 11,019.1 10,718.8 10,695.3 9,439.2 9,487.4 9,182.9 9,036.3 8,900 8,945 8,759.5 8,730.4 8,680 8,627.1 8,500.7 8,326.7 8,217.7 8,020.1 7,913.9 7,863.5 7,783.1 7,777.4 7,750.1 7,690.1 7,592.8 7,588.6 7,616 7,634.3 7,612 6,603.7 6,599.4 6,657.7 6,612.9 6,677.8 2,137 1,965 1,913.1 1,931 1,827.5 1,815.9 1,910 1,862.1 1,786.9 1,816.9 1,697.4 1,667.8 1,625.4 1,608.8 1,639.4 1,605.5 1,564.7 1,526.1 1,391.4 1,096.1 887.8 861.1
Goodwill 16,926 16,715 16,699 16,626 16,585 15,982 15,883.1 15,864.9 15,852.3 15,834 15,290.7 15,353.6 14,622.2 14,451.5 14,194.3 14,166.3 12,832.7 12,826 12,736.3 12,476 12,047.2 12,046.4 11,712.1 11,673.5 11,667.5 11,633.4 11,650.5 11,497.7 11,431.6 11,400.1 11,382.7 11,345.3 11,329.1 11,315.4 11,233.6 11,208.2 11,184.3 11,163.2 11,163.1 11,154.2 11,149.1 10,661.4 10,665.4 10,667.1 10,539.5 10,418.3 1,561.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 647 655 599 612 632 546 454.8 463.4 482.6 496 447.2 431.5 355.5 347.2 399.3 398.7 258 259.5 228.1 209.6 181.5 173.1 127.5 126.7 130 133.9 124.1 125.8 115.1 106.5 105.4 115.4 121.3 141.1 152.1 157.5 173 182.3 201.4 214.6 231.1 465.7 483.2 500 529.7 547.2 27.5 1,591 1,585 1,583.1 1,577.8 1,570.5 1,569.9 1,558.6 1,600.8 1,602.4 1,419.3 1,435 1,408.4 1,376.9 1,331.3 1,297.3 1,380.8 1,250.2 1,123.3 932 601.9 505.9
Long-Term Investments 0 0 824 703 638 637 672.7 586 584.2 469 371.6 337.3 351.1 281.4 276.3 241.3 134.3 127.6 129.5 137.7 130.8 145.4 121.4 98.9 94.2 87.8 58.6 63.3 61.4 73 38.9 31.4 25.9 27.2 16.4 18.3 21.7 24.8 0 0 0 315.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 1,822 1,834 991 755 743 722 699 682.4 649.6 641 645.5 638.7 589.2 596.6 612.9 570.7 520.1 543.7 582.7 581.6 550 602.3 615.3 628 583.3 595.6 521.3 509.2 511.6 452.9 469.1 478.7 495.3 449.1 399.7 394.2 389.6 386.2 379.6 382.9 363.7 236.7 451.3 450.6 511.4 855.4 339.3 346.3 492.8 484 301.2 271.8 276.9 242.6 153 144 51.9 52.9 54.2 50.4 51.2 53.5 0 0 0 0 0 0
Total Non-Current Assets 32,090 31,843 31,305 30,981 30,782 29,996 29,465.8 29,274.4 29,108.1 29,029 27,694.4 27,561.5 26,840 26,695.8 26,201.6 26,072.3 23,184.3 23,244.2 22,859.5 22,441.2 21,809.5 21,912.2 21,335.8 21,257.5 21,155 21,077.8 20,855.2 20,522.7 20,337.4 20,052.6 19,910 19,834.3 19,754.7 19,710.2 19,551.9 19,468.3 19,361.4 19,345.1 19,360.1 19,386 19,355.9 18,282.7 18,199.3 18,275.4 18,193.5 18,498.7 4,065.3 3,902.3 3,990.9 3,998.1 3,706.5 3,658.2 3,756.8 3,663.3 3,540.7 3,563.3 3,168.6 3,155.7 3,088 3,036.1 3,021.9 2,956.3 2,945.5 2,776.3 2,514.7 2,028.1 1,489.7 1,367
Total Assets 34,600 34,366 33,789 33,397 33,103 32,402 31,814.2 31,934.1 31,381.7 31,410 30,042.8 29,823.3 29,081.4 29,052.9 28,401 28,212.9 24,880.1 24,955 24,428.9 23,922.1 23,252.6 23,434 23,110.1 22,826.3 22,908.9 22,683.8 22,329.1 21,996.8 21,782 21,617 21,402.1 21,203.7 21,108.7 21,147 20,948.6 20,761.1 20,595.8 20,629.6 20,661.7 20,645.4 20,539.2 19,571.4 19,465.3 19,540.3 19,446.4 19,862.6 4,498 4,321.8 4,545.3 4,554.1 4,291.5 4,153.9 4,209.1 4,046.9 3,889.1 3,914.2 3,571.3 3,561.5 3,462 3,375.6 3,336 3,288.3 3,267.6 3,102.1 2,788.3 2,812.1 1,713.7 1,582
Current Liabilities
Account Payables 1,196 1,374 1,247 1,199 1,154 1,345 1,225.4 1,285.5 1,179.2 1,412 1,198.2 1,098.4 984.2 1,221.8 1,024.3 1,044.6 846.6 910 815 728.1 678.3 779 646.3 657.4 660.6 777.9 697.2 719.6 629.6 761.5 661.3 629.8 572.4 598.1 599.3 596.5 520.8 553.8 542.8 558 542.4 470.5 412.2 592.8 462.9 552.5 124.8 111.9 113.2 129.1 104.3 97.1 123.5 92.5 79.7 77.9 61 103.4 56.3 64.9 65.1 76.1 65 67.1 45 64.7 40.4 41
Short-Term Debt 547 596 921 421 421 862 513 1,432.9 1,431.9 932 932.3 152.8 457.1 456 455.8 313.8 8.8 8.2 8 135.2 168.7 168.1 184.3 60 24.5 929.9 912.8 1,561.3 1,595.6 690.7 690.8 41.9 707 706.7 705.7 705.4 6.2 5.8 5.7 5.6 5.5 692.5 475.7 543 327.3 457.9 2.2 2.4 232.3 231.1 227.7 2.7 2.8 3.4 30.1 282.6 117.3 56.5 44.4 53.8 39.3 57.2 76.8 27 385.2 499.9 0 0
Deferred Revenue 480 496 504 490 504 485 485.5 472.5 472.2 467 484.8 467.4 467.1 443 463.1 419.6 408.2 381.3 381.5 366.6 359.3 345.6 341.6 334.6 342.9 336 341.1 331.3 330.8 338.7 336.4 340.6 341.5 312.1 329.3 321.9 325.4 312.9 320.2 320.3 316.9 331.3 329.9 331.1 352.5 350.5 113.2 90.9 90 88.5 86 85.9 82.9 80.3 75.5 76.8 77.7 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 1,517 1,462 216 412 441 409 387.6 407.6 398.8 393 408 387.8 365 353.3 351.1 343.4 348.6 349 341.5 338.8 326.3 316.1 325.5 364.8 335.5 341.1 370.1 369.1 321.3 309.2 346.3 333.5 314.8 303.1 321.5 316.1 301.1 307.5 344.7 339.1 340.4 (72.8) 0 169.6 0 0 134.6 103.1 114.3 104.7 109.5 94.8 73.7 107.1 67.5 68.3 53.3 221.9 238.3 248.1 251.5 252 279.9 254.3 263.4 219.2 203.4 1,997.6
Total Current Liabilities 3,740 3,928 4,263 3,647 3,491 4,128 3,641.5 4,533.6 4,325.9 4,228 4,068.8 2,987.9 3,029.3 3,388.3 3,163.8 2,934.6 2,258.1 2,415.6 2,333.4 2,314.8 2,148.8 2,282 2,190.8 2,066.1 1,980.6 3,039.3 2,997.4 3,571 3,467.9 2,718.6 2,675.3 1,989.5 2,560.2 2,634.8 2,591.5 2,543 1,777.2 1,812 1,817.9 1,847.7 1,810.3 2,466 2,254.9 2,548.7 2,186.3 2,476.4 556.7 437.2 671 672 638.4 387.4 392.2 399.4 420.3 634.9 413.9 381.8 339 366.8 355.9 385.3 421.7 348.4 693.6 783.8 243.8 2,038.6
Non-Current Liabilities
Long-Term Debt 0 0 12,353 12,546 12,862 11,851 12,047.4 11,526.8 11,400.1 11,887 10,992.8 11,960.4 11,467.8 11,329.5 11,180.4 11,589.5 9,608.9 9,546.2 9,257 8,833.9 8,594.2 8,766.1 8,594.5 8,598 8,952.2 7,758.6 7,705.8 6,883.9 6,801.5 7,646.8 7,556.7 8,215.8 7,499.7 7,480.7 7,152 7,075.7 7,663.9 7,653.1 7,739.6 7,608.4 7,554.9 6,425 6,638.3 6,419.6 6,768.5 7,118.7 1,654 1,296.9 1,290 1,289.2 1,252.5 1,441.4 1,439.3 1,385.4 1,301.6 1,163.2 1,141 1,200.2 1,163.8 1,103 1,154.6 1,152.1 1,153.9 1,118.5 557.4 557.2 102.2 62.4
Deferred Tax Liabilities 1,936 1,884 1,738 1,604 1,612 1,594 1,591 1,569.2 1,577.6 1,527 1,474.9 1,516.8 1,556.5 1,528.8 1,481.7 1,432.4 1,252.9 1,229.5 1,218.8 1,282.3 1,254.7 1,238.8 1,222.4 1,186.8 1,191.9 1,180.6 1,074.6 1,060.5 1,051.8 1,028.3 970 868.4 836.5 796.4 1,267.5 1,230.4 1,218.5 1,210.2 1,194.7 1,139.9 1,128.9 977 989.3 1,040.5 1,235.1 1,243.2 480.9 384.7 371.2 353.5 197 184.8 195 160.8 145.1 139.5 132.5 126.6 125.4 118.5 105.7 94.4 71.3 73 73.9 71.4 66.8 55.7
Other Non-Current Liabilities 16,944 16,586 3,386 3,354 3,282 3,233 3,115.7 3,109.6 3,071.7 3,030 2,978.2 2,954.8 2,886 2,879.1 2,836.5 2,770 2,541.4 2,545 2,510.9 2,502.1 2,409.4 2,451.7 2,511.1 2,526.4 2,441.3 2,346.6 2,346.8 2,308.9 2,323.9 2,293.8 2,276.3 2,281.2 2,298 2,274 2,263.4 2,246.9 2,250.5 2,260.6 2,268 2,291.4 2,279.2 2,017.5 2,014.1 1,948.7 1,762.9 1,695.6 499.2 362.9 338.8 334.9 304.3 293.4 301.5 288.4 236.4 228 179 178 177.7 173.7 166.9 153.8 169.2 163.2 118.9 100.6 49.4 49
Total Non-Current Liabilities 18,880 18,470 17,655 17,698 17,947 16,867 16,942.5 16,394.2 16,235.2 16,639 15,641.6 16,630.7 16,134.8 15,975.4 15,746.7 16,062.3 13,637.3 13,559.7 13,216.6 12,823.9 12,465.5 12,663.2 12,545.2 12,529.3 12,808.1 11,498.3 11,353.2 10,470.6 10,391.5 10,968.9 10,803 11,365.4 10,634.2 10,551.1 10,682.9 10,553 11,132.9 11,123.9 11,202.3 11,039.7 10,963 9,419.5 9,641.7 9,424.5 9,766.5 10,057.5 2,634.1 2,044.5 2,000 1,977.6 1,753.8 1,919.6 1,935.8 1,834.6 1,683.1 1,530.7 1,452.5 1,504.8 1,466.9 1,395.2 1,427.2 1,400.3 1,394.4 1,354.7 750.2 729.2 218.4 167.1
Total Liabilities 22,620 22,398 21,918 21,345 21,438 20,995 20,584 20,927.8 20,561.1 20,867 19,710.4 19,618.6 19,164.1 19,366.1 18,910.5 18,996.9 15,895.4 15,975.3 15,550 15,138.7 14,614.3 14,945.2 14,736 14,595.4 14,788.7 14,562.9 14,350.6 14,041.6 13,859.4 13,687.5 13,478.3 13,354.9 13,194.4 13,185.9 13,274.4 13,096 12,910.1 12,935.9 13,020.2 12,887.4 12,773.3 11,885.5 11,896.6 11,973.2 11,952.8 12,533.9 3,190.8 2,481.7 2,671 2,649.6 2,392.2 2,307 2,328 2,234 2,103.4 2,165.6 1,866.4 1,886.6 1,805.9 1,762 1,783.1 1,785.6 1,816.1 1,703.1 1,443.8 1,513 462.2 2,205.7
Stockholders' Equity
Common Stock 3 3 3 3 3 3 3.2 3.2 3.2 3 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 4 4 4 3.9 3.9 1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 0 0 0 0 0
Retained Earnings 11,493 11,161 10,810 10,455 10,087 9,774 9,443.9 9,060.7 8,717.9 8,434 8,163.5 7,852.7 7,582.7 7,356.3 7,166.8 6,907.1 6,681.4 6,475.6 6,309.4 6,106 5,911.2 5,751.8 5,652.8 5,529.2 5,433.6 5,317.3 5,155.9 4,987.9 4,857.5 4,750.5 4,571.6 4,430.9 4,309.3 4,152.5 3,603.4 3,496.7 3,402.5 3,324 3,243.9 3,268 3,190.9 1,762.3 1,675.5 1,683.1 1,671.9 1,518.2 1,521.8 1,138.7 1,086.9 1,039.3 957.9 897.5 880.7 819.2 680 623.3 565.2 515.6 459.1 404 344.8 294.6 244.2 191.7 137.2 93.8 46.2 0
Accumulated Other Comprehensive Income (31) (29) (31) (28) (31) (26) (18.6) (9.1) (5.3) (12) (2.5) (6.7) (9.3) (12.1) (10.6) (13.4) (13.5) (14.6) (9.6) (10.8) (11.3) (12.4) (15.5) (16.5) (17.6) 2.2 (8.5) 3.9 24.8 30.8 55.9 52.8 41.7 22.6 15.4 11.1 13.5 14.2 (23) (30.9) (31.1) 12 12.2 19 (1.4) (5.5) 5.2 (1.7) (1.6) (0.1) 0 0 0 0 (1.1) 0.5 0 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 11,980 11,968 11,871 12,050 11,663 11,405 11,228.8 11,005.1 10,819.8 10,542 10,331.3 10,203.7 9,916.5 9,686 9,489.9 9,215.4 8,984 8,978.9 8,873.3 8,778.3 8,632.9 8,483.9 8,370.1 8,227.1 8,117.2 8,118.2 7,976.5 7,952.9 7,919.5 7,927.1 7,921.6 7,846.1 7,911.8 7,958.8 7,672 7,662.9 7,683.3 7,691.3 7,639.2 7,755.7 7,763.2 7,683.6 7,566.6 7,564.5 7,491.9 7,327.2 1,307.2 1,840.1 1,874.3 1,904.5 1,899.3 1,846.9 1,881.1 1,812.9 1,785.7 1,748.6 1,704.9 1,674.9 1,656.1 1,613.6 1,552.9 1,502.7 1,451.5 1,399 1,344.5 1,299.1 1,251.5 (623.7)
Total Liabilities & Equity 34,600 34,366 33,789 33,397 33,103 32,402 31,814.2 31,934.1 31,381.7 31,410 30,042.8 29,823.3 29,081.4 29,052.9 28,401 28,212.9 24,880.1 24,955 24,428.9 23,922.1 23,252.6 23,434 23,110.1 22,826.3 22,908.9 22,683.8 22,329.1 21,996.8 21,782 21,617 21,402.1 21,203.7 21,108.7 21,147 20,948.6 20,761.1 20,595.8 20,629.6 20,661.7 20,645.4 20,539.2 19,571.4 19,465.3 19,540.3 19,446.4 19,862.6 4,498 4,321.8 4,545.3 4,554.1 4,291.5 4,153.9 4,209.1 4,046.9 3,889.1 3,914.2 3,571.3 3,561.5 3,462 3,375.6 3,336 3,288.3 3,267.6 3,102.1 2,788.3 2,812.1 1,713.7 1,582
Debt Metrics
Total Debt 547 596 13,506 13,216 13,530 12,957 12,802.8 13,201.5 13,070.8 13,069 12,173.3 12,362.8 12,209.6 12,081.4 11,941.7 12,229.7 9,888.1 9,831.6 9,532 9,210.9 9,005.9 9,174.3 9,031.8 8,910.5 9,234.7 8,952.5 8,881.2 8,697.6 8,645.1 8,337.5 8,247.5 8,257.7 8,206.7 8,187.4 7,857.7 7,781.1 7,670.1 7,658.9 7,745.3 7,614 7,560.4 7,117.5 7,114 6,962.6 7,095.8 7,576.6 1,656.2 1,299.3 1,522.3 1,520.3 1,480.2 1,444.1 1,442.1 1,388.8 1,331.7 1,445.8 1,258.3 1,256.7 1,208.2 1,156.8 1,193.9 1,209.3 1,230.7 1,145.5 942.6 1,057.1 102.2 62.4
Net Debt 429 520 13,422 13,094 13,447 12,883 12,719.4 12,710.9 12,979.2 12,929 12,015.8 12,181.2 12,077.4 11,938 11,860.3 12,110.3 9,849.1 9,802.6 9,491.9 9,176.9 8,982.7 9,136.1 8,625.4 8,640.8 8,953.1 8,905.4 8,825.6 8,625.1 8,577.1 8,267 8,165.6 8,196.4 8,144.1 8,104.1 7,793.8 7,745.1 7,636.9 7,591.1 7,690.3 7,572 7,527 7,061.5 7,032.6 6,914.6 7,028.2 7,383.1 1,633.6 1,233.6 1,348.1 1,401.1 1,232.6 1,278 1,300.6 1,325.9 1,331.7 1,436.7 1,238.9 1,254.7 1,203.4 1,156.8 1,193.9 1,196.2 1,220.9 1,100.6 927.3 500.5 80.8 45.3
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
Operating Activities
Net Income 525 545 550 550 495 512.5 565.7 511.5 453.7 439.6 480.3 427.5 383.9 347 416.9 371.8 351.9 313.1 350.8 332 296.4 236.3 260.2 226.3 246.8 290 298 250.9 234.9 301.1 262.9 235.7 237.9 664.5 223.3 203.4 187.8 189.6 85.7 181 156.9 63.8 64.4 65.5 60.9 56.9 55.7 44.7 60.4 16.8 61.5 62.2 61 54.9 (38.9) 56.7 58.1 56.5 55.1 59.2 50.2 50.4 52.5 54.5 43.4 47.6 46.2
Depreciation & Amortization 491 487 489 491 462 469.7 448.7 439.7 425.8 426.7 424 358.3 382.8 372.5 376.7 359.9 332.1 319.8 322.1 323.7 302.6 288 291.4 289.9 289.5 277.9 287.8 284.7 272 272.4 282.5 275.7 283.5 287.2 280.8 278.2 269.9 265.2 272.1 269.9 263 72.8 71.5 62.2 65.7 58.7 61.2 61.7 59.4 56.8 52.4 53.4 49.4 44.4 (6.9) 56.6 53.9 51.3 50.6 49.2 46.3 45.4 44.8 39.6 33.4 29.8 26.8
Stock-Based Compensation 0 0 10 10 13 11 9.2 10.6 11.2 9.2 10.3 9.8 11.6 8 9.6 8.8 12.4 7.9 10.5 26 12.6 8.3 9.6 9.5 9.9 10.3 9.1 9 11.1 9.6 9.5 8.8 11.1 7.3 9.6 8.1 9.6 5.5 5.6 5.6 6.5 0 0 1.1 0 0.7 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 83 (324) (90) 36 36 (96.2) (102.8) 78.3 (164.5) (159.5) 24.6 229.6 (113.4) (70.7) (78.1) 66.6 (29.5) (132.3) 37.3 97.9 19.8 (162.8) (45.7) 202.3 (1.6) (165.6) 50.6 18.2 7.1 (70.3) (59) 36.2 22.2 11.5 (26.6) (57.5) (22.2) 59 (65.8) (33.2) 11.5 3.7 12 16.1 23.9 53 (99.3) 48.3 18.6 (28.5) 8.9 (10.9) 25.7 23.3 (41.4) 32.1 12.4 34.5 (34.6) (12.6) 6.5 (25.4) (15.1) (32.1) (21.9) (55.5) 16.4
Other Non-Cash Items 95 134 84 31 18 108.2 59.6 58.6 38 133.0 (4.9) 34.4 8.3 68.9 47.4 22.9 13.8 123.1 9.6 15 14.3 177.7 25.7 42.2 7.3 59.4 (26.8) 6.5 0.9 (55.3) (1.3) 26.1 1.4 (1.8) (23.7) (10.2) (9.5) (20.1) 168.5 (22.8) (3.1) 0.1 0.1 2.7 7.4 6 17.3 5 0.6 (0.5) 0.6 2.9 3.3 0.1 198.1 4.7 4.3 3.5 10.1 4 2.3 10.4 0 0 2 19.2 0
Operating Cash Flow 1,227 981 1,181 1,109 1,025 1,022 1,003.1 1,099.4 811.5 898.5 953.1 1,078.5 687.7 806.6 819.9 857.9 705.6 648.9 655 821.8 661 562.6 575.5 764 569.5 565.2 651.3 581.9 553.7 495.9 555.9 609.6 581.4 529.2 502.7 434.5 444.3 488.2 515.3 412.8 431.5 158.6 167.5 167.6 171.6 190.3 168.1 180.1 151.5 100.8 155 127.7 152.4 134.6 78.1 157.3 137.6 146.6 88 111.9 115.3 98.6 90.3 70.9 64 41.1 89.4
Investing Activities
Capital Expenditure (476) (577) (444) (407) (459) (497.6) (439.5) (403.4) (514.5) (547.9) (368.9) (335.7) (378.6) (529.2) (277.5) (313.2) (334.1) (412.1) (295.6) (277.6) (331) (305.6) (234.3) (307.9) (346.8) (298.8) (319.6) (289.4) (299.3) (251.3) (278.4) (278.8) (263.3) (220.8) (271.5) (273.6) (223.9) (189.1) (226.7) (240.5) (271.5) (112.6) (87.2) (50.2) (79.2) (38.8) (92.4) (92.7) (64.1) (24) (96.3) (57.1) (67.6) (37.6) (70.3) (63.3) (76.5) (60.2) (50) (48.6) (49.2) (88.1) (207.4) (243.7) (488.2) (439.5) (107.6)
Acquisitions (433) (164) (296) (129) (834) (353.1) (198.6) (30.1) (166.3) (1,005.3) (61.4) (696.4) (291.6) (190.4) (142.5) (2,573.4) (81.6) (285.4) (359.3) (513.5) (17.2) (579.2) (89.1) (7.1) (61.2) (118) (235.2) (116.4) (62.7) (68.2) (51.7) (50.2) (18) (203) (51) (26.8) (69.2) (16.7) (16.8) (7.9) (6) (4.6) 0 (2.5) (36.4) (1.2) (18.1) (12) (10.5) (7.7) (12.7) (37.6) (1.3) (4.2) 0 0 (253.7) 0 (53.3) (36.3) (48.1) 0 0 0 0 0 0
Purchases of Investments 0 15 (6) (6) (3) 0 (0.9) (5) (12) (15.1) (4.1) (5.2) (4.5) (10.5) (6.6) (9.1) (2.5) (30) (7.2) (9.2) (7.4) (32.9) 0 0 (14) (14.7) 0 0 (5) (38.2) 0 0 (30.2) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 (13) 5 6 2 0 0 4.9 11.5 17.2 4 4.7 4.4 11.2 6.9 8.5 2.1 37 7 6 8.9 11.2 0 0 5.6 13.5 0 0 5.1 37.7 0 0 30.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (1) (3) (15) 9 6 38.2 3.2 (0.2) (0.5) (14.9) 3.9 11.6 17 (3.2) 2.7 2.7 16.7 10 2.4 2.6 2.1 16.6 12.3 28.6 (19) 15.6 0.8 2.3 2.8 22.6 4.4 (0.3) 4.4 (41.7) (1.7) (1.1) 0.9 (3) 8.3 1.4 7.3 63.8 40 41.4 144 (4.4) (47.8) (167.5) (23.2) 7.6 (26.9) 19.3 (10) 15.7 (38.1) 32.2 37.9 (99.6) (18.1) 10.1 (11.7) (21.8) (3.2) (0.4) (0.9) 0.9 0.1
Investing Cash Flow (910) (742) (756) (527) (1,288) (812.5) (635.8) (433.8) (678.9) (1,566) (426.5) (1,021) (653.3) (722.1) (417) (2,884.5) (399.4) (680.5) (652.5) (788.5) (344.6) (889.9) (311.1) (286.4) (435.4) (402.4) (554) (403.5) (359.1) (297.4) (325.7) (329.3) (276.7) (465.5) (324.2) (301.5) (292.2) (208.8) (235.2) (247) (270.2) (53.4) (47.2) (11.3) 28.4 (44.4) (158.3) (272.2) (97.8) (24.1) (135.9) (75.4) (78.9) (26.1) (108.4) (31.1) (292.3) (159.8) (121.4) (74.8) (109) (109.9) (210.6) (244.1) (489.1) (438.6) (107.5)
Financing Activities
Net Debt Issuance 275 252 262 (362) 540 130.2 (429.3) 103.1 (4) 883.5 (198.8) 168.3 129.6 143.6 (287.6) 2,264 48 277.4 282.9 161.9 (180.1) 156 31.6 (339.2) 271.8 58.9 160.8 37.7 52.3 82.6 (20.7) 46.3 20.5 328 74 106.1 9.1 (75.9) 119.3 46.4 13.4 11.2 (15.6) (26.2) (210.3) (2.7) 29.4 19.6 35.8 (1.1) (17.3) 15.4 24.8 (30.8) (409.9) (115.6) 159.4 48.5 51.4 (37.5) (19.4) (21.5) 85.2 202.8 (116.2) 2,402.2 (1,446.1)
Stock Repurchased (292) (271) (540) (4) (55) (157.5) (153.1) (167.6) 0 (71.4) (190.4) 4 0 0 0 (4) (203.5) (73.2) (138.9) (27.4) (12.7) 0 0 2.8 (98.8) (45.6) (151.3) (91) (111.5) (162) (100.9) (219.5) (254.5) (257.4) (122.6) (131.8) (98.9) (97.2) (110.5) (110.3) (85.8) (113.6) (148) (189.1) (99.6) (93.1) (48.7) (48.7) (30.6) (56.2) (11.6) (45.7) (46.2) (46.5) (6) 0 0 (37.7) 0 0 0 0 0 0 0 0 0
Dividends Paid (193) (194) (182) (181) (181) (182.2) (168) (168.5) (168.3) (168.6) (156.5) (156.6) (156.4) (156.4) (145.3) (145.3) (145.9) (146.1) (135.4) (135.6) (135.5) (135.4) (129.2) (128.7) (129.2) (129.3) (120.2) (120.7) (121) (121.8) (112.3) (113.3) (114.4) (115.7) (107.8) (108.4) (108.6) (109) (102.8) (103.4) (103.7) (17.1) (17.4) (18.1) (9.1) (9.3) (9.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (14) (7) (7) (2) (1) (0.4) (6.3) (4.7) (3.6) (2.4) 0.2 (7.4) (4.2) (5.1) (2.4) (5.1) (1.8) (43.8) (0.2) 1 (14) (70.9) (36.3) (5.2) (2.4) 2 (10.1) (3.2) (2.1) (0.9) 7.9 4.7 (1.2) 0.8 5.8 (2.7) 11.7 1.2 (173.1) 10.1 15.8 0 0 0 0 0 9.6 (9.6) 0 0 72.6 (72.6) 0.1 (0.1) 447.4 47.3 (47.3) (0.9) 0 0.4 0 36.1 0 0 0 (1,469.5) 1,468.5
Financing Cash Flow (238) (215) (463) (544) 284 (209.9) (753.5) (233.4) (201.2) 641.1 (545.5) 8.3 (42) (18.6) (432.7) 2,113.6 (314.7) 14.3 8.4 (9.6) (342.3) (47.7) (125.9) (470.3) 31.9 (114) (112.4) (171.2) (191.4) (202.1) (226) (281.8) (349.6) (44.3) (150.6) (130.2) (186.7) (266.6) (267.1) (157.2) (160.3) (101.7) (161.8) (226) (308.5) (90.9) (15.3) (30.8) 27.8 (52.1) 59.5 (99.8) (11.6) (76.1) 46.4 (135.3) 144.4 10.4 38.2 (37.1) (19.4) 14.6 85.2 202.8 (116.2) 932.7 22.4
Cash Position
Net Change in Cash 42 (8) (38) 39 21 (9.4) (385.8) 433.8 (69.1) (26.3) (19.2) 66.3 (7.6) 66.5 (35.9) 86.6 (8.5) (17.3) 10.9 23.7 (25.9) (375) 138.5 7.3 166 48.8 (15.1) 7.2 3.2 (3.6) 4.2 (1.5) (44.9) 19.4 27.9 2.8 (34.6) 12.8 13 8.6 1 3.5 (41.5) (69.7) (108.5) 55 (5.5) (122.9) 81.5 24.6 78.6 (47.5) 61.9 32.4 46.4 (135.3) (10.3) (2.8) 38.2 0 (19.4) 3.3 85.2 202.8 (116.2) 932.7 22.4
Cash at Beginning 76 84 263 224 203 83.4 591.8 158 227.5 253.8 273 206.7 214.3 147.8 183.7 97.1 105.6 122.9 112 88.3 114.2 489.2 350.7 343.4 177.4 128.6 143.7 136.5 133.3 136.9 132.7 134.2 179.1 63.9 36 33.2 67.8 55 42 33.4 32.4 30.3 71.8 141.5 174.2 119.2 124.7 247.6 166.1 141.5 62.9 110.4 48.5 16.1 (30.3) 9.1 19.4 4.8 (33.4) 0 13.1 9.8 (75.4) 0 556.6 0 0
Cash at End 118 76 225 263 224 74 206 591.8 158.4 227.5 253.8 273 206.7 214.3 147.8 183.7 97.1 105.6 122.9 112 88.3 114.2 489.2 350.7 343.4 177.4 128.6 143.7 136.5 133.3 136.9 132.7 134.2 83.3 63.9 36 33.2 67.8 55 42 33.4 33.8 30.3 71.8 65.7 174.2 119.2 124.7 247.6 166.1 141.5 62.9 110.4 48.5 16.1 (126.2) 9.1 2 4.8 0 (6.3) 13.1 9.8 202.8 440.4 932.7 22.4
Free Cash Flow 751 404 737 702 566 524.4 563.6 696 297 350.6 584.2 742.8 309.1 277.4 542.4 544.7 371.5 236.8 359.4 544.2 330 257 341.2 456.1 222.7 266.4 331.7 292.5 254.4 244.6 277.5 330.8 318.1 308.4 231.2 160.9 220.4 299.1 288.6 172.3 160 46 80.3 117.4 92.4 151.5 75.7 87.4 87.4 76.8 58.7 70.6 84.8 97 7.8 94 61.1 86.4 38 63.3 66.1 10.5 (117.1) (172.8) (424.2) (398.4) (18.2)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Income Statement
Revenue 4,113 4,135 4,212 4,235 4,009 4,046 4,076.2 4,048 3,861.7 3,831.6 3,825.9 3,725.9 3,581.1 3,529.7 3,597.8 3,413.6 2,970.1 2,952.9 2,933.9 2,812.8 2,596.4 2,573.3 2,572.1 2,454.4 2,553.9 2,576.7 2,646.9 2,605.3 2,470.6 2,529.6 2,565.3 2,517.5 2,427.5 2,560 2,563.3 2,527.7 2,393.5 2,379.1 2,409.3 2,350.7 2,248.6 2,290.2 2,344 2,311.4 2,169.4 2,225.2 2,264.1 2,225.3 2,073.7 2,141.5 2,165.4 2,111.7 1,998.6 2,028.3 2,046.9 2,060.6 1,982.4 2,025.2 2,116.2 2,086.6 1,964.9 2,020.8 2,061.7 2,066.4 1,957.7 1,999 2,073.5 2,066.1 2,060.5 1,244.4 834 827.5 779.2 796 806.2 808.4 765.6 766.2 787.1 779.8 737.5 738.1 730 718.6 677.2 687.7 699.9 683.2 637.3 637.9 637.3 605.3 598.2 563.5 576 535.4 529.1 539.1 533.5 501.5
Gross Profit 1,256 1,731 1,749 1,786 1,695 1,259 1,260.6 1,225.7 1,152.7 1,140.8 1,134.7 1,118.7 1,028.8 975.9 1,028.7 1,347.9 874.4 823.2 867.8 838.4 759.5 738.1 745.3 986.5 706.3 738.7 727.7 703.6 692.5 770.3 704.2 663.5 673.4 680 703.2 693.3 640.5 656 668.5 910 867.2 886.5 953.8 891 865.1 688.7 866.8 852.3 752.5 857.5 847.8 701.7 775.5 744.8 766.4 819.6 779.2 817.6 856.2 848.8 805.2 836 836.8 848.1 820.9 797.9 866 839.2 851.8 381.2 334.5 250 302.7 300.5 287.4 312.1 278.9 283.9 293.9 287.3 281.1 267.1 267.1 267.3 258.5 250 257.9 252 233.8 233.2 238 223.5 226.7 183.4 221.5 194.7 209.4 214.2 213 195.4
Operating Income 831 807 839 870 807 812 854.6 818.1 738.7 714.1 738.8 722.7 649.6 584.4 665.9 589.6 566.6 507.7 568.8 522.6 494.1 481.8 489.2 395.4 429 464.7 454.2 441 426.1 497.8 443.3 410.6 412.2 405.7 436.5 430.4 385.9 406.4 433.1 382.1 345.5 353.9 442.9 389.2 372.8 166.4 382.4 378.3 306.1 402.6 352.3 181.2 274.2 288.8 317.9 387 326.9 366.8 408.5 401.2 376.2 389.4 367.6 400.8 381.3 329.2 386.9 520.7 353 (111.6) 167 85.6 142.2 139.9 128.3 153.1 114.7 129.7 133.4 134 122.4 115.4 119.4 122.9 119.5 109.6 116.5 116.2 110 106.5 113.5 118.1 116.3 62 111.8 98.9 102.2 114.2 115.9 101.7
Net Income 525 544 550 550 495 512 565.7 511.5 453.8 439.6 480.2 427.4 383.9 346.8 416.9 371.9 352 313.1 350.3 331.1 295.9 235.5 260 225.5 246.3 289.3 298.3 251.5 234.2 301 263.4 234.9 237.7 664.4 223.2 202.9 187.8 189.5 85.6 180.8 156.7 172.3 215 190.3 172.4 50.3 185.8 179 132.5 236.6 171.4 56.3 124.6 127 152.7 149.2 142.9 191 193.5 46.5 158.2 147.6 134.2 159.7 65 35.6 120.5 225.9 113 (131.7) 88.7 40.7 76.1 82.1 67 87.2 53.9 66.9 77.3 70.8 64.6 60 63.8 64.4 65.5 57.6 62.5 60.9 56.9 55.7 60.4 61.5 61 (38.9) 58.1 49.6 56.5 55 59.2 50.2
EPS (Diluted) 1.70 1.76 1.76 1.75 1.58 1.63 1.80 1.62 1.44 1.39 1.52 1.35 1.21 1.09 1.32 1.17 1.11 0.98 1.10 1.03 0.93 0.74 0.81 0.71 0.77 0.90 0.93 0.78 0.72 0.92 0.81 0.71 0.72 1.98 0.66 0.60 0.55 0.55 0.25 0.52 0.45 0.49 0.61 0.54 0.49 0.14 0.52 0.50 0.37 0.65 0.47 0.15 0.34 0.35 0.42 0.40 0.38 0.51 0.52 0.12 0.41 0.39 0.35 0.42 0.17 0.09 0.32 0.59 0.30 -0.35 0.48 0.22 0.41 0.45 0.35 0.45 0.28 0.35 0.39 0.35 0.31 0.29 0.30 0.29 0.29 0.26 0.27 0.26 0.24 0.24 0.25 0.25 0.24 -0.15 0.23 0.19 0.22 0.21 0.23 0.19
Balance Sheet
Cash & Equivalents 118 76 84 122 83 74 83.4 490.6 91.6 140 157.5 181.6 132.2 143.4 81.4 119.4 39 29 40.1 34 23.2 38.2 406.4 269.7 281.6 47.1 55.6 72.5 68 70.5 81.9 61.3 62.6 83.3 63.9 36 33.2 67.8 55 42 33.4 56 81.4 48 67.6 193.5 22.6 65.7 174.2 119.2 247.6 166.1 141.5 62.9 0 9.1 19.4 2 4.8 0 0 13.1 9.8 44.9 15.3 556.6 21.4 17.1
Total Assets 34,600 34,366 33,789 33,397 33,103 32,402 31,814.2 31,934.1 31,381.7 31,410 30,042.8 29,823.3 29,081.4 29,052.9 28,401 28,212.9 24,880.1 24,955 24,428.9 23,922.1 23,252.6 23,434 23,110.1 22,826.3 22,908.9 22,683.8 22,329.1 21,996.8 21,782 21,617 21,402.1 21,203.7 21,108.7 21,147 20,948.6 20,761.1 20,595.8 20,629.6 20,661.7 20,645.4 20,539.2 19,571.4 19,465.3 19,540.3 19,446.4 19,862.6 4,498 4,321.8 4,545.3 4,554.1 4,291.5 4,153.9 4,209.1 4,046.9 3,889.1 3,914.2 3,571.3 3,561.5 3,462 3,375.6 3,336 3,288.3 3,267.6 3,102.1 2,788.3 2,812.1 1,713.7 1,582
Total Debt 547 596 13,506 13,216 13,530 12,957 12,802.8 13,201.5 13,070.8 13,069 12,173.3 12,362.8 12,209.6 12,081.4 11,941.7 12,229.7 9,888.1 9,831.6 9,532 9,210.9 9,005.9 9,174.3 9,031.8 8,910.5 9,234.7 8,952.5 8,881.2 8,697.6 8,645.1 8,337.5 8,247.5 8,257.7 8,206.7 8,187.4 7,857.7 7,781.1 7,670.1 7,658.9 7,745.3 7,614 7,560.4 7,117.5 7,114 6,962.6 7,095.8 7,576.6 1,656.2 1,299.3 1,522.3 1,520.3 1,480.2 1,444.1 1,442.1 1,388.8 1,331.7 1,445.8 1,258.3 1,256.7 1,208.2 1,156.8 1,193.9 1,209.3 1,230.7 1,145.5 942.6 1,057.1 102.2 62.4
Stockholders' Equity 11,980 11,968 11,871 12,050 11,663 11,405 11,228.8 11,005.1 10,819.8 10,542 10,331.3 10,203.7 9,916.5 9,686 9,489.9 9,215.4 8,984 8,978.9 8,873.3 8,778.3 8,632.9 8,483.9 8,370.1 8,227.1 8,117.2 8,118.2 7,976.5 7,952.9 7,919.5 7,927.1 7,921.6 7,846.1 7,911.8 7,958.8 7,672 7,662.9 7,683.3 7,691.3 7,639.2 7,755.7 7,763.2 7,683.6 7,566.6 7,564.5 7,491.9 7,327.2 1,307.2 1,840.1 1,874.3 1,904.5 1,899.3 1,846.9 1,881.1 1,812.9 1,785.7 1,748.6 1,704.9 1,674.9 1,656.1 1,613.6 1,552.9 1,502.7 1,451.5 1,399 1,344.5 1,299.1 1,251.5 (623.7)
Cash Flow
Operating Cash Flow 1,227 981 1,181 1,109 1,025 1,022 1,003.1 1,099.4 811.5 898.5 953.1 1,078.5 687.7 806.6 819.9 857.9 705.6 648.9 655 821.8 661 562.6 575.5 764 569.5 565.2 651.3 581.9 553.7 495.9 555.9 609.6 581.4 529.2 502.7 434.5 444.3 488.2 515.3 412.8 431.5 158.6 167.5 167.6 171.6 190.3 168.1 180.1 151.5 100.8 155 127.7 152.4 134.6 78.1 157.3 137.6 146.6 88 111.9 115.3 98.6 90.3 70.9 64 41.1 89.4
Capital Expenditure (476) (577) (444) (407) (459) (497.6) (439.5) (403.4) (514.5) (547.9) (368.9) (335.7) (378.6) (529.2) (277.5) (313.2) (334.1) (412.1) (295.6) (277.6) (331) (305.6) (234.3) (307.9) (346.8) (298.8) (319.6) (289.4) (299.3) (251.3) (278.4) (278.8) (263.3) (220.8) (271.5) (273.6) (223.9) (189.1) (226.7) (240.5) (271.5) (112.6) (87.2) (50.2) (79.2) (38.8) (92.4) (92.7) (64.1) (24) (96.3) (57.1) (67.6) (37.6) (70.3) (63.3) (76.5) (60.2) (50) (48.6) (49.2) (88.1) (207.4) (243.7) (488.2) (439.5) (107.6)
Free Cash Flow 751 404 737 702 566 524.4 563.6 696 297 350.6 584.2 742.8 309.1 277.4 542.4 544.7 371.5 236.8 359.4 544.2 330 257 341.2 456.1 222.7 266.4 331.7 292.5 254.4 244.6 277.5 330.8 318.1 308.4 231.2 160.9 220.4 299.1 288.6 172.3 160 46 80.3 117.4 92.4 151.5 75.7 87.4 87.4 76.8 58.7 70.6 84.8 97 7.8 94 61.1 86.4 38 63.3 66.1 10.5 (117.1) (172.8) (424.2) (398.4) (18.2)