Redwood Trust, Inc. logo RWT - Redwood Trust, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
1
BUY 10
HOLD 12
SELL 0
STRONG
SELL
0
| PRICE TARGET: $6.50 DETAILS
HIGH: $6.50
LOW: $6.50
MEDIAN: $6.50
CONSENSUS: $6.50
UPSIDE: 23.11%
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 87.1 210.7 327.6 217.6 307.9 30.9 69.7 67.4 74.5 57.0 10.8 43.3 42.8 (21.3) (2.2) (70.5) 71.9 99.8 140.3 145.0 160.0 134.4 188.5 200.7 (841.5) 121.8 63.5 62.3 79.5 21 68.2 54.8 71.9 45.6 62.7 67.4 64.4 11.4 72.5 89.0 87.0 55.9 65.0 39.4 54.0 65.8 70.0 44.2 33.2 56.3 38.9 84.3 90.9 97.3 58.6 33.9 45.4 17.8 16.8 24.0 30.5 36.0 35.3 44.4 73.6 56.7 52.0 31.6 (9.0) (463.3) 39.4 32.3 40.8 56.3 55.4 56.6 48.2 64.4 49.9 48.7 43.1 59.9 71.0 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 11.1 13.5 7.8 9.6 8.0 8.0
Cost of Revenue 8.7 9.3 284.5 270.5 244.2 9.7 9.5 8.5 5.8 6.9 5.5 4.5 0 4.1 4.3 5.2 6.0 10.0 4.6 3.7 3.6 3.3 2.2 1.6 4.0 4.4 1.9 0 0 9.6 3.0 3.8 2.7 7.5 2.3 3.1 2.2 2.0 2.0 2.8 2.3 2.8 2.8 3.5 2.7 2.3 2.3 2.8 2.3 2.2 2.0 3.4 2.5 23.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 78.4 201.4 43.0 (52.9) 63.8 21.2 60.2 58.9 68.7 50.2 5.2 38.7 42.8 (25.4) (6.5) (75.7) 65.8 89.8 135.7 141.3 156.4 131.0 186.3 199.1 (845.5) 117.4 61.6 62.3 79.5 30.6 65.1 50.9 69.2 38.1 60.4 64.3 62.2 9.4 70.5 86.2 84.6 53.1 62.1 35.8 51.2 63.5 67.8 41.4 30.8 54.1 36.9 80.9 88.4 74.0 54.8 32.2 41.7 17.8 16.8 24.0 30.5 36.0 35.3 44.4 73.6 56.7 52.0 31.6 (9.0) (463.3) 39.4 32.3 40.8 56.3 55.4 56.6 48.2 64.4 49.9 48.7 43.1 59.9 71.0 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 11.1 13.5 7.8 9.6 8.0 8.0
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 49.4 0 37.7 35.5 35.9 32.5 36.0 33.3 32.6 32.2 29.7 30.8 34.6 32.2 38.2 30.2 33.3 33.2 46.5 39.4 43.6 29.2 26.4 27.3 27.5 35.0 24.9 26.3 23.2 31.8 17.3 14.2 19.5 11.9 16.7 14.9 15.2 15.1 17.4 16.8 16.7 18.4 20.4 20.7 20.9 23.1 18.2 17.0 16.2 16.1 17.6 14.5 15.8 2.5 15.9 14.1 13.5 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 0 0 0 0
Other Expenses 30.3 (127.6) 6.7 5.6 5.5 0 0 0 0 0 0 0 8.1 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 0 2.8 19.8 31.9 17.8 16.8 24.0 33 32 33 19 73.6 56.7 24 20 (9.0) (463.3) 143 (18.3) (145.1) 56.3 56.9 205 195 194 188 184 46.3 59.9 72.2 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 23.0 12.9 7.8 9.6 8.0 8.0
Operating Expenses 79.7 (127.6) 44.4 41.0 41.4 32.5 36.0 33.3 32.6 32.2 29.7 30.8 42.8 32.2 38.2 30.2 33.3 33.2 46.5 39.4 43.6 29.2 26.4 27.3 27.5 35.0 24.9 26.3 23.2 31.8 17.3 14.2 19.5 11.9 16.7 14.9 15.2 15.1 17.4 16.8 16.7 18.4 20.4 20.7 20.9 23.1 18.2 17.0 20.4 27.1 19.9 12.2 16.9 31.8 18.7 33.9 45.4 17.8 16.8 24.0 33 32 33 19 73.6 56.7 24 20 (9.0) (463.3) 143 (18.3) (145.1) 56.3 56.9 205 195 194 188 184 46.3 59.9 72.2 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 23.0 12.9 7.8 9.6 8.0 8.0
Operating Income
Operating Income (1.3) 329.1 (1.4) (93.9) 22.4 (11.3) 245.1 25.6 36.1 17.9 (24.5) 7.9 0 (57.6) (44.7) (105.9) 32.5 56.6 89.2 101.9 112.9 101.9 159.9 171.8 (873) 82.3 36.7 36.1 56.4 (20.3) 47.8 36.7 49.7 26.2 43.7 49.4 47.0 (5.7) 53.1 69.4 67.9 34.7 41.7 15.2 30.3 40.4 49.6 24.4 10.5 39.0 17.4 72.1 71.5 77.0 68.5 49 61.1 26.6 25.6 33.1 40.2 36.4 43.8 49.8 65.1 57.2 51.7 45.2 12.8 (11.2) (28.1) 53.9 (41.0) (926.2) 106.2 180.2 188.2 209.0 210.6 208.2 211.5 236.3 257.3 240.1 241.2 206.4 192.1 141.8 132.2 139.7 65.6 48.6 33.0 27.7 34.2 38.8 39.5 40.3 38.9 38.9
Interest Expense 6.7 301.0 284.5 270.5 244.2 238.8 223.1 200.1 180.5 169.8 157 153 152.1 146 143 127 136 112 104 108 103 98.3 100 102.3 147 148 (116.6) 116.2 99 85 64.4 48 41.5 36 27.4 24 21.0 20.5 21.6 22.4 24 25.0 23.8 23 24 24 23 21 19.1 19.3 21.8 21.5 18.4 33.0 28.3 28.9 30.7 29.1 24.3 23.6 22.0 21.6 23.7 21.2 18.2 20.6 24.8 39.0 47.6 100.5 92.2 97.5 127.3 152.7 167.1 165.8 168.1 172.9 174.7 173.5 180.7 189.7 196.7 195.2 176.0 147.2 114.8 90.4 79.6 68.6 41.8 33.3 18.5 18.1 27.0 31.4 33.8 34.7 35.1 34.9
Interest Income 34.7 327.0 299.5 284.3 272.1 266.4 248.6 225.4 204.7 189.9 177.1 179 178.5 173 178 167 189 162 146 139 128 122.0 122 129.9 198 193 150 148.5 131 120 99.4 83 76.6 71.5 63 59 54.6 56.3 61 67 62.3 68.8 63.5 63.4 64 65 63 58 55.5 57.5 57.4 57.7 53.5 53.4 59.7 59.5 58.7 56.5 53.4 53.0 54.3 55.8 59.0 56.6 58.7 61.8 70.4 74.3 81.4 123.3 131.2 137.0 176.1 202.0 220.3 219.7 215.1 219.3 224.1 218.2 225.6 231.7 242.8 246.9 238.2 206.9 181.6 139.5 127.3 116.9 71.4 54.2 36.3 31.3 38.6 41.8 42.0 41.9 43.1 42.9
Profitability
EBITDA 316.5 331.3 1.0 (91.2) 25.2 0 247.9 225.6 217.6 198.6 134.5 162.6 0 100.0 102.0 24.6 172.3 165.3 197.0 214.1 215.7 0 258.4 277.5 (814.3) 205.6 157.7 150.2 155.0 83.2 110.6 83.8 93.6 63.1 69.2 67.3 64.6 46.3 75.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 87.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
EBIT 314.2 329.1 (1.4) (93.9) 22.4 0 245.1 220.6 211.3 (3.8) (3.7) (3.7) (3.7) 93 93.7 17.6 164.8 161.2 188.9 206.0 211.5 0 250.3 269.4 (819.0) 201.2 150.8 149.8 154.6 82.8 110.2 83.5 93.3 62.8 68.9 67.0 64.3 46 (0.3) (0.3) (0.3) (0.3) (0.2) (0.2) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.7) (0.9) (0.9) (0.3) (0.3) (0.3) (0.3) (0.2) (0.2) (0.2) (0.4) (0.4) (0.3) (0.3) (9.7) (0.3) (0.3) (0.3) 13.1 15.2 18.1 13.8 12.7 17.2 14.7 15.8 14.2 16.7 19.1 24.6 23.9 31.6 14.3 17.2 11.6 2.6 (3.2) (1.1) (5.4) (2.3) (1.3) (1.1) (1.4) (0.5) (1.1)
Income Before Tax (8) 28.0 (1.4) (93.9) 22.4 (0.4) 22.0 20.5 30.8 22.0 (29.1) 2.9 3.5 (53.5) (49.0) (109.4) 28.5 48.6 84.0 96.7 108.8 62.8 150.9 165.5 (965.6) 53.5 34.2 33.6 55.3 (2.2) 45.8 35.3 51.7 25.9 41.4 41.6 43.1 27.7 53.5 41.6 12.1 41.0 11.8 29.5 9.5 24.2 50.3 16.4 10.5 27.0 17.0 68.7 71.5 42.3 40.2 20.1 30.5 (2.6) 1.3 10.3 16.2 15.2 20.6 28.8 46.9 36.8 27.2 6.3 (35.6) (111.7) (123.4) (45.0) (169.5) (1,078.9) (59.1) 14.4 20.1 36.1 36.0 34.7 30.8 46.6 60.6 45.0 65.2 59.2 77.3 51.4 52.7 71.1 23.8 56.6 14.5 0 0 0 0 0 0 0
Income Tax Expense (2.5) 8.0 6.4 4.6 6.3 6.3 7.1 4.9 0.5 1.0 1.7 0.1 (1.1) (9.4) 1.4 (9.4) (2.5) 4.6 (4.3) 6.7 11.5 8.5 9.1 0.0 (22.2) 4.3 (0.1) 2.3 0.9 (1.3) 4.9 2.5 4.9 (5.0) 5.3 5.3 6.2 2.4 1.0 0.3 0.0 (0.1) (7.4) 2.4 (5.3) (3.0) 5.2 0.3 1.8 1.8 4.9 3.1 10.9 0.2 0.5 0.6 0.0 (0.1) 0.0 0.0 0.0 0.0 0.2 0.0 0.0 (3.6) (0.2) (0.5) 0.1 3.9 (9.9) 0.9 1.8 (1.5) 1.8 3.0 1.8 0.4 3.5 3.3 2.8 4.1 4.7 4.1 4.7 4.8 5.0 (3.7) 1.9 1.2 1.6 41.4 0 18.1 27.0 31.4 33.8 34.7 35.1 34.9
Net Income (5.5) 20.0 (7.7) (98.5) 16.1 (6.6) 14.8 15.5 30.3 21.0 (30.8) 2.9 4.6 (44.1) (50.4) (100.0) 30.9 44.0 88.3 90.0 97.3 54.3 141.8 165.4 (943.4) 49.1 34.3 31.3 54.5 (0.9) 40.9 32.7 46.8 30.9 36.2 36.3 37.0 25.4 52.6 41.3 12.1 41.1 19.2 27.1 14.8 27.1 45.1 16.0 11.6 24.4 21.4 63.7 58.6 40.8 39.7 19.5 30.5 (2.6) 1.3 9.4 18.2 14.7 19.9 28.6 46.8 40.3 27.1 6.7 (34.9) (115.6) (111.3) (45.9) (171.6) (1,077.4) (60.9) 11.4 18.3 35.7 32.4 31.4 28.0 42.5 55.9 40.9 60.6 54.4 72.3 55.1 50.8 69.9 22.2 15.2 14.5 9.6 7.1 7.4 5.6 5.6 3.8 4.0
Per Share Data
EPS (Basic) -0.07 0.13 -0.08 -0.76 0.10 -0.07 0.09 0.10 0.21 0.15 -0.29 0.00 0.02 -0.40 -0.44 -0.86 0.26 0.38 0.77 0.77 0.84 0.48 1.21 1.41 -8.27 0.38 0.33 0.31 0.57 -0.01 0.49 0.44 0.60 0.40 0.47 0.46 0.47 0.33 0.67 0.52 0.15 0.54 0.22 0.31 0.17 0.32 0.53 0.19 0.14 0.30 0.26 0.78 0.72 0.51 0.48 0.24 0.38 -0.03 0.01 0.12 0.23 0.19 0.25 0.36 0.59 0.52 0.34 0.10 -0.65 -2.16 -3.34 -1.40 -5.28 -33.14 -2.18 0.42 0.68 1.33 1.25 1.23 1.11 1.69 2.26 1.66 2.49 2.23 3.30 2.67 2.61 3.60 1.26 0.93 0.91 0.71 0.73 0.76 0.64 0.55 0.35 0.37
EPS (Diluted) -0.07 0.13 -0.08 -0.76 0.10 -0.07 0.09 0.10 0.21 0.15 -0.29 0.00 0.02 -0.40 -0.44 -0.84 0.22 0.34 0.65 0.66 0.72 0.48 1.02 1.00 -8.28 0.38 0.31 0.30 0.49 -0.01 0.42 0.38 0.50 0.35 0.41 0.43 0.43 0.31 0.58 0.48 0.15 0.54 0.22 0.31 0.16 0.31 0.50 0.18 0.14 0.29 0.25 0.71 0.69 0.51 0.48 0.24 0.37 -0.03 0.01 0.11 0.22 0.19 0.25 0.35 0.58 0.52 0.34 0.10 -0.65 -2.16 -3.34 -1.40 -5.28 -33.14 -2.18 0.41 0.66 1.33 1.22 1.20 1.09 1.69 2.21 1.62 2.42 2.23 3.18 2.58 2.49 3.60 1.21 0.93 0.88 0.71 0.70 0.74 0.64 0.55 0.35 0.37
Shares Outstanding 124.8 126.3 129.0 133.0 132.8 132.3 132.2 132.1 131.6 116.3 115.5 114.1 113.7 113.4 116.1 116.8 140.5 114.9 114.7 112.9 112.3 111.9 113.4 114.4 114.1 153.0 101.9 97.0 92.7 83.2 80.8 75.4 75.4 76.6 76.9 76.8 76.7 78.7 76.7 85.6 77.1 76.6 83.8 83.9 83.4 83.4 83.0 82.7 82.4 84.4 82.2 82.1 81.6 81.4 80.8 78.8 78.4 78.1 78.5 78.3 78.0 78.0 77.9 77.8 77.7 77.7 77.6 65.7 53.6 53.6 33.3 32.9 32.5 32.5 27.9 27.4 26.9 26.3 25.9 25.5 25.2 24.9 24.7 24.6 24.4 23.7 22.0 20.6 19.4 18.8 17.7 16.1 15.2 13.7 8.9 8.8 8.8 8.8 8.8 8.8
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
Current Assets
Cash & Cash Equivalents 202 255.7 226.3 302.0 259.9 245.2 253.7 275.6 275.4 293.1 203.6 357 404.4 258.9 297 371 409 450.5 557 421 426 461 451 529 378 197 395 198.8 201 176 173.5 185 178.6 145 258 217 221.8 213 221 217 305 288.4 241.8 242.8 337.1 333.2 309.5 38.5 57.9 58.5 36.5 42.9 39.2 20.6 25.7 18.0 14.5 15.5 7.1 8.9 12.5 19.9 31.4 66.5 40.6 55.6 3.8 11.4 6.5 24.9 57.7 29.4 13 11 14.6 10.4 9.7 4.8 1.1 1.6 1 1
Short-Term Investments 476.4 423.0 284.4 114.5 204.6 211.5 205.4 144.8 110.1 87.4 81.4 97.5 135.0 132.1 142.3 150.5 185.2 206.8 200.3 212.5 218.9 0 207.2 173.7 129.2 239.3 (0.4) 19.4 (0.2) (0.2) 361.8 399.6 450.3 (0.3) (0.4) 549.9 574.8 (0.2) 595.6 610.3 698.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 302.7 131.0 254.8 273.6 191.7 213.9 197.7 164.1 151.0 169.8 109.8 116.0 126.9 114.7 125.7 103.7 115.2 137.6 90.9 89.9 93.5 87.4 77.1 94.1 209.5 304.2 298.6 267.2 210.0 154.8 120.8 78.6 81.4 0 130.8 134.8 101.6 0 118.2 143.7 135.5 14.1 14.7 18.2 22.3 25.6 50.5 61.5 44.8 0 25.7 23.2 0 20.8 23.8 22.3 20.7 23.8 22.2 21.4 15.5 13.7 13 13.2 17.1 18.9 25.1 21.6 23.9 23.1 23.9 25.8 19.3 15.5 10.8 7.3 4.5 3.3 2 1.3 0.9 0.7
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7.8 0 0 18.9 15.5 15.8 (87.4) (158.9) (143.1) (254.9) (896.2) (1,057.4) (1,232.0) (36.5) (1,154.4) (398.5) (418.9) (428.0) (984.6) (397.1) (332.8) (426.8) (482.3) (252.1) (206.1) (111.5) 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 0 0
Other Current Assets (779.5) 193.4 (765.5) (690.1) (656.3) (670.6) (656.7) (584.5) (536.4) (550.3) 0 774.9 (126.9) (505.8) 71.9 5,111.3 0 (794.9) 0 10,538.5 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 202 1,003.1 0 0 0 0 0 0 0 0 0 0 524.3 0 637 5,736.8 709.7 0 557.0 11,262.1 426.0 461.3 450.7 528.6 378.2 197.0 394.6 218.1 14.6 175.8 173.5 184.8 178.6 144.7 257.6 217.2 221.8 212.8 221.4 216.9 305.1 288.4 241.8 0.2 337.1 333.2 309.5 38.5 57.9 58.5 36.5 42.9 39.2 20.6 25.7 40.3 35.2 39.3 29.3 30.3 28.0 33.6 44.4 79.7 57.7 74.5 28.9 33 30.4 48 81.6 55.2 32.3 26.5 25.4 17.7 14.2 8.1 3.1 2.9 1.9 1.7
Non-Current Assets
Property, Plant & Equipment 0 15.9 15.5 15.3 15.2 14.2 15.9 17.3 18.8 20.4 21.8 23.3 24.6 28.8 29.5 28.3 28.0 27.8 23.0 21.6 19.4 19.2 17.9 20.2 21.4 16.8 15.9 16.7 16.8 5.1 5.4 5.2 3.8 2.6 2.9 3.0 3.3 2.8 2.9 3.5 3.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Goodwill 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 0 0 0 0 0 0 0 (14.9) 0 0 88.7 28.7 28.7 28.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 88.4 10.6 43.2 46.5 49.6 19.0 81.3 86.9 89.2 28.5 57.6 100.8 37.8 40.9 44.1 34.7 38.0 41.6 45.2 49.1 53.0 56.9 75.6 64.6 68.5 72.8 20.4 22.3 79.5 60.3 63.8 64.7 66.5 64 63 64 111.0 119 106 110 127 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 25,433.1 22,392.1 753.1 609.4 726.3 781.0 615.7 550.9 486.1 471.7 405.3 456.2 625.0 631.4 413 680 636 826.6 422 309 323 348 385 430 739 1,458 1,633 1,575.0 1,957 1,891 1,480.9 1,454 1,357.7 1,477 1,356 1,219 1,165.9 1,018 937 884 920 1,020.6 1,146.2 1,108.1 851.2 581.2 3,031.7 1,537.7 1,311.3 1,223.4 989.0 366.3 688.2 815.9 797.1 897.9 1,101.5 845.5 940.5 941.9 1,041.9 974.4 937.3 949.6 1,133.5 1,313.4 1,459.7 1,570.8 1,770.6 1,814.8 2,059.6 1,814.8 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 1,069.2 243.7 (835.2) (694.6) (814.5) (837.6) (736.3) (678.4) (617.4) (543.9) 338.7 314.0 (710.8) (724.5) 238.1 263.1 337.6 (896.0) 333.5 354.6 (706.3) (635.4) (693.1) 8,664.9 (761.1) 14,991.3 12,040.3 10,184.6 8,426.2 8,365.9 5,909.9 4,309.8 (1,382.8) (1,474.6) (1,432.0) (1,271.9) (1,276.4) (1,128.1) (1,020.4) (913.3) (1,078.8) (6,444.7) (1,146.2) 3,739.3 (851.2) (581.2) (3,031.7) (1,537.7) (1,311.3) 16,261.6 (989.0) (366.3) 6,244.4 (815.9) (797.1) (897.9) (1,101.5) (845.5) (940.5) (941.9) (1,041.9) (974.4) (937.3) (949.6) (1,133.5) (1,313.4) (1,459.7) (1,570.8) (1,770.6) (1,814.8) (2,059.6) (1,814.8) 0 0 0 0 0 0 0 0 0 0
Total Non-Current Assets 26,614 22,698.0 0 0 0 0 0 0 0 0 1,048.7 1,041.4 12,597.0 0 769.0 1,026.9 1,060.5 0 843.9 734.3 53.0 56.9 60.7 9,495.9 68.5 16,627.5 13,738.4 12,101.8 10,400.4 10,262.0 7,459.9 5,844.5 45.2 68.2 (9.9) 13.4 3.9 11.6 25.3 84.1 (28.6) (5,421.6) 3.6 4,847.4 2.3 2.7 5.9 1,537.7 1,311.3 17,485.0 989.0 366.3 6,932.6 815.9 797.1 897.9 1,101.5 845.5 940.5 941.9 1,041.9 974.4 937.3 949.6 1,133.5 1,313.4 1,459.7 1,570.8 1,770.6 1,814.8 2,059.6 1,814.8 0 0 0 0 0 0 0 0 0 0
Total Assets 26,816 23,701.1 22,600.8 21,333.0 19,871.8 18,258.3 18,427.4 16,491.1 15,058.0 14,504.3 13,021.1 12,796.7 13,121.3 13,030.9 13,146 13,876 14,253 14,706.9 13,073 11,996 10,897 10,355 10,402 10,362 12,301 17,995 15,476 5,913.9 12,193 11,937 9,139.6 7,513 6,999.6 7,040 6,131 5,655 5,214.3 5,483 5,873 5,898 5,727 5,219.6 5,195.3 5,252.6 5,285.1 5,580.6 11,282.8 21,962.4 19,543.6 17,626.8 10,356.1 8,172.1 7,007.8 5,674.3 2,272.8 2,073.5 2,285.9 2,082.1 2,195.4 2,257.3 2,427.6 2,419.9 2,081.5 2,240.1 2,457 2,832.4 3,802.2 3,866.9 3,713.7 3,444.2 3,525.3 3,424.5 2,643.1 2,184.2 1,403.5 1,028.3 581.3 441.6 303.4 179.3 145.4 121.5
Current Liabilities
Account Payables 116.8 91.5 102.8 92.5 91.9 77.8 80.6 64.8 65.4 57.7 56.4 51.2 54.5 50.8 51.7 48.1 60.4 47.6 34.5 35.6 47.9 34.9 42.9 37.0 40.1 66.1 46.9 47.1 39.5 42.5 31.1 21.9 23.5 18.4 20.8 11.2 16.8 10.8 16.8 10.8 16.6 6.3 5.4 6.0 10.5 14.7 63.2 21.5 17.9 16.6 6.7 5.8 5.3 4.5 5.5 4.6 4.7 5.7 5.4 6.0 5.7 5.5 5 5.3 5.7 10.8 9.2 13.7 12.2 14.5 20.2 18.2 15 14.1 10.4 4.1 1.6 1.3 0.8 0.3 0 0
Short-Term Debt 3,355.6 3,278.8 3,042.2 2,333.6 2,020.5 1,750.1 0 0 946.9 1,351.0 1,112.3 1,203.8 1,290.9 1,904.8 1,985.8 1,774.5 1,571.8 2,102.5 1,671.2 1,404.1 1,172.2 444.8 407.7 350.9 2,341.6 1,152.6 823.2 1,249.0 1,082.2 1,411.4 643.5 719.4 912.2 1,289.9 688.4 1,294.8 241.0 791.5 1,117 706.1 368.7 0 0 0 0 0 39.4 269.9 277.9 236.4 217.7 475.7 99.7 834.1 1,089.6 861.2 992.6 756.2 822.4 806.6 922.4 1,253.6 854.5 922.7 1,033.6 1,257.6 2,067.2 1,936.2 2,288 1,914.5 2,639.8 3,102.8 2,373.3 1,953.1 1,225.1 858.8 471.4 346.3 222.3 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (68.5) (75.5) (64.6) (41.3) (75.3) (312.1) (485.5) (1,176.4) (1,157.8) (977.7) (1,080.8) (988.6) 0 (706.6) 0 (649.1) (549.6) (469.7) 0 (306.5) (279.2) (352.9) (435.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 (302.2) 0 (366.7) (2,739.2) (2,383.2) (1,984.0) (283.4) (221.4) (1,109.9) (1,497.3) (14.4) 133.5 (1,401.3) (2,012.2) (10.1) (1,895.9) (1,752.7) (2,221.5) (1,801.2) (1,484.9) (88.1) (522.5) 77.2 298.7 102.6 1,371.4 1,390.9 1,384.5 1,185.8 1,059.4 827.6 774.2 648.5 711.8 646.0 94.9 397.6 85.2 113.2 478.8 554.5 (36.0) (128.4) (97.2) (72.2) (41.4) (123.5) (35.9) (41.1) (28.9) (18.3) (17.2) (18.2) (17.2) (12.6) 6.6 5.5 3.6 3.9 4.2 3.1 3 4.8 3.3 2 2.9 1.9 2.4 2.1 2.3 2.6 1.4 0.8 0.5 0.5 37.7 37.5 (347.6) (223.1) (0.5) (1.1) (0.8)
Total Current Liabilities 3,355.6 3,552.3 2,939.7 0 0 0 0 0 0 0 1,607.2 1,595.8 0 0 2,110 1,822.6 1,632.2 0 1,705.7 1,439.7 1,253.9 522.6 482.8 830.8 2,660.0 2,699.5 2,391.5 2,801.3 2,433.1 2,606.4 1,600.4 1,584 1,662 2,088 1,403 1,447 699 940 1,302 1,261 999 154 221 198 203 215 181 334 352 291 266 516 138 864 1,110 878 1,008 770 836 821 935 1,265 865 932 1,042 1,272 2,079 1,953 2,303 1,937 2,672 3,131 2,397 1,973 1,240 904 513 347.6 223.1 0.3 0 0
Non-Current Liabilities
Long-Term Debt 21,933.6 18,873.7 17,973.0 17,164.8 15,823.3 14,633.8 16,821.0 14,970.2 12,420.4 11,478.5 10,209.3 9,846.3 10,041.4 9,581.4 9,534.8 10,411.5 10,697.3 10,755.7 9,544.7 1,484.3 1,438.3 0 1,536.2 8,594.2 8,915.6 13,330.1 11,299.8 9,486.3 8,210.3 7,982.2 6,178.0 4,699.9 4,117.7 3,739.6 3,518.7 3,029.0 3,349.9 3,394.1 3,439.7 3,543.9 2,683.4 4,074.7 3,977.1 4,082.5 4,279.6 4,859.0 10,952.5 0 18,583.0 16,826.2 9,542.6 7,170.7 0 4,365.3 883.5 971.4 1,056.2 1,095.8 1,148.5 1,227.5 1,282.8 945.3 994.4 1,067 1,171.1 1,305.6 1,465.9 1,593.3 1,081.3 1,172.8 497.4 0 0 0 0 37.4 37.3 24 6.5 10.6 5.9 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (7,715.6) 0 0 5.2 5.2 5.2 5.2 12.0 12.0 12.0 9.0 11.8 11.8 11.8 11.8 0.9 0.9 0.9 0.9 0 0 0.8 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 560.1 249.8 (18,003.9) (17,185.0) (15,871.3) (14,649.9) (16,836.8) (14,986.7) (12,447.5) (11,493.2) 72.1 77.6 (10,060.7) (9,600.0) 204.7 216.5 210.5 (10,776.6) 207.2 7,715.9 (1,454.1) (16.7) (1,556.5) (8,616.7) (8,938.8) 71.4 (11,324.3) (9,511.4) (8,235.5) (7,991.3) 164.3 145.7 (4,129.4) 137.5 164.2 151.4 (3,350.8) 147.5 (3,439.7) 202.0 1,153.5 (4,074.7) (3,977.1) (4,082.5) (4,279.6) (4,859.0) (10,952.5) 0 (18,583.0) 10.8 (9,542.6) (7,170.7) 0 (4,365.3) (883.5) (0.4) (0.2) (1,095.8) (1,148.5) (1,227.5) (1,282.8) (0.3) (994.4) (1,067) (1,171.1) (1,305.6) (1,465.9) (0.3) (0.3) (1,172.8) (0.4) 0 0 0 0 (37.4) (37.3) (24) (6.5) (10.6) (5.9) 0
Total Non-Current Liabilities 22,503.5 19,166.2 0 0 0 0 0 0 0 0 10,222 9,985 0 0 9,882 10,569.7 10,856.3 0 9,699.2 9,051.3 1,438.3 1,425.5 1,536.2 8,594.2 8,915.6 13,468.7 11,299.8 9,486.3 8,210.3 7,982.2 6,178.0 4,700 4,118 3,740 3,519 3,029 3,350 3,394 3,440 3,544 3,642 4,075 3,977 4,083 4,280 4,859 10,953 20,870 18,583 16,826 9,543 7,171 6,397 4,365 883 971 1,056 1,096 1,149 1,228 1,283 945 994 1,067 1,171 1,306 1,466 1,593 1,081 1,173 497 0 0 0 0 37.4 37.3 24 6.5 10.6 5.9 0
Total Liabilities 25,859 22,718.5 21,601.8 20,279.6 18,688.3 17,070.5 17,204.4 15,270.4 13,833.8 13,301.6 11,915.3 11,672.6 11,983.6 11,946.9 11,992 12,618 12,808 13,320.9 11,697 10,701 9,681 9,244 9,349 9,425 11,576 16,168 13,691 5,098.5 10,643 10,588 7,778.3 6,284 5,779.6 5,828 4,922 4,476 4,048.5 4,334 4,743 4,805 4,641 4,217.1 4,185.1 4,263.6 4,465.4 5,056.2 11,134.0 21,204.4 18,935.5 17,073.4 9,808.9 7,686.7 6,534.7 5,228.6 1,993.0 1,849.5 2,064.2 1,866.5 1,984.7 2,048.9 2,217.9 2,210 1,858.6 1,998.5 2,212.8 2,577.6 3,544.7 3,546 3,384 3,109.7 3,169 3,131.3 2,397.4 1,973.2 1,240 904 513.2 373.3 231 156.8 123 101.2
Stockholders' Equity
Common Stock 1.2 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 1.1 1.1 1.1 1.1 1.2 1.2 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.0 1.0 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.6 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 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
Retained Earnings (1,548.4) (1,517.4) 1,096.1 1,105.5 1,205.8 1,191.4 (1,307.9) (1,297.4) (1,289.1) 1,144.4 (1,292.8) (1,240.5) 1,156.6 1,153.4 (1,127.1) (1,049.0) (920.8) 1,316.9 (939.5) (1,003.1) (1,072.2) (1,150.9) (1,189.0) (1,314.8) (1,466.2) (485.0) (499.0) (498.9) (500.1) (524.8) (497.8) (513.2) (522.5) (547.6) (556.4) (570.5) (584.8) (599.7) (603.0) (633.4) (652.7) (732.7) (741.3) (768.3) (794.7) (842.5) (91.2) 21.4 (19.3) (46.9) (26.7) 132.2 116.6 60.0 50.3 41.6 (51.1) 27.1 (54.5) (55.6) (55.2) (55.5) (46.3) (42.6) (45) (50.9) (0.1) (8.7) (4.4) (6.8) (6.2) (4.3) (3.4) (2.7) (2.3) (1.7) (0.8) (0.2) (0.1) 0 0 0
Accumulated Other Comprehensive Income (31.4) (31.7) (35.7) (39.1) (39.3) (43.1) (39.4) (47.3) (48.9) (58.0) (64.7) (62.1) (63.0) (68.9) (64.9) (57.8) (26.5) (8.9) 1.9 9.7 5.0 (4.2) (20.6) (29.4) (85.5) 41.5 38.1 48.9 52.7 61.3 72.3 75.6 80.1 85.2 82.3 69.7 72.6 71.9 54.7 46.3 56.7 38.2 57.6 64.9 (77.9) (85.5) (735.1) 111.2 78.5 82.2 108.4 (101.5) (88.9) (91.0) (92.0) (88.5) 2.6 (80.5) (4.0) (4.7) (3.8) (3.3) (1.9) 0 0 0 0 0 0 0 1.8 (3.8) 0 0 0 0 0 0 (1.6) (0.3) (0.5) 0
Total Stockholders' Equity 957 982.6 999.0 1,053.5 1,183.5 1,187.9 1,223 1,220.7 1,224.2 1,202.7 1,105.8 1,124.1 1,137.7 1,084.0 1,154 1,258 1,445 1,386.1 1,376 1,295 1,216 1,111 1,053 937 725 1,827 1,785 815.4 1,550 1,349 1,361.3 1,229 1,220.0 1,212 1,209 1,179 1,165.8 1,149 1,130 1,093 1,086 990.5 997.6 971.7 801.8 506.3 148.8 757.9 608.1 553.3 547.2 485.4 473.0 445.7 279.9 224.0 221.7 215.7 210.7 208.4 209.7 209.9 222.9 241.6 244.2 254.8 257.5 320.9 329.7 334.5 356.3 293.2 245.7 211 163.5 124.3 68.1 68.3 72.4 22.5 22.4 20.3
Total Liabilities & Equity 26,816 23,701.1 22,600.8 21,333.0 19,871.8 18,258.3 18,427.4 16,491.1 15,058.0 14,504.3 13,021.1 12,796.7 13,121.3 13,030.9 13,146 13,876 14,253 14,706.9 13,073 11,996 10,897 10,355 10,402 10,362 12,301 17,995 15,476 5,913.9 12,193 11,937 9,139.6 7,513 6,999.6 7,040 6,131 5,655 5,214.3 5,483 5,873 5,898 5,727 5,219.6 5,195.3 5,252.6 5,285.1 5,580.6 11,282.8 21,962.4 19,543.6 17,626.8 10,356.1 8,172.1 7,007.8 5,674.3 2,272.8 2,073.5 2,285.9 2,082.1 2,195.4 2,257.3 2,427.6 2,419.9 2,081.5 2,240.1 2,457 2,832.4 3,802.2 3,866.9 3,713.7 3,444.2 3,525.3 3,424.5 2,643.1 2,184.2 1,403.5 1,028.3 581.3 441.6 303.4 179.3 145.4 121.5
Debt Metrics
Total Debt 25,285 22,163.2 21,026.8 19,510.7 17,856.8 16,394.9 16,832.7 14,982.8 13,380.9 12,844.3 11,699 11,066.7 11,349.9 11,504.7 11,783 12,420 12,483 12,879.2 11,435 10,506 9,364 9,049 9,191 9,257 11,258 15,797 13,281 4,799.8 10,374 10,382 6,821.4 6,126 5,029.8 5,679 4,756 4,324 3,590.8 4,186 4,557 4,603 4,445 4,074.7 3,977.1 4,082.5 4,279.6 4,859.0 10,991.9 21,140.1 18,860.9 17,019.0 9,760.3 7,646.4 6,496.7 5,199.4 1,973.1 1,832.6 2,048.8 1,852.1 1,970.9 2,034.2 2,205.2 2,198.9 1,848.9 1,989.7 2,204.7 2,563.2 3,533.1 3,529.5 3,369.3 3,087.3 3,137.2 3,102.8 2,373.3 1,953.1 1,225.1 896.2 508.7 370.3 228.8 10.6 5.9 0
Net Debt 25,083 21,907.5 20,800.5 19,208.8 17,596.9 16,149.7 16,579.0 14,707.3 13,105.6 12,551.2 11,495 10,709.4 10,945.5 11,245.8 11,486 12,049 12,074 12,428.7 10,878 10,085 8,938 8,588 8,740 8,728 10,880 15,600 12,886 4,601.1 10,173 10,206 6,647.9 5,941 4,851.3 5,534 4,498 4,107 3,369.1 3,973 4,336 4,386 4,140 3,786.3 3,735.4 3,839.7 3,942.5 4,525.8 10,682.4 21,101.6 18,803.1 16,960.6 9,723.8 7,603.5 6,457.6 5,178.8 1,947.3 1,814.6 2,034.3 1,836.6 1,963.9 2,025.3 2,192.6 2,179 1,817.5 1,923.2 2,164.1 2,507.6 3,529.3 3,518.1 3,362.8 3,062.4 3,079.5 3,073.4 2,360.3 1,942.1 1,210.5 885.8 499 365.5 227.7 9 4.9 (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 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
Operating Activities
Net Income (5.5) 20 (7.7) (98.5) 16.1 (6.6) 14.8 15.5 30.3 21.0 (30.8) 2.9 4.6 (44.1) (50.4) (100.0) 30.9 44.0 88.3 90.0 97.3 54.3 141.8 165.4 (943.4) 49.1 34.3 31.3 54.5 (0.9) 40.9 32.7 46.8 30.9 36.2 36.3 37.0 25.4 52.6 41.3 12.1 55.9 40.9 60.6 55.1 50.8 69.9 24.6 22.2 15.6 15.2 15.0 14.5 11.9 9.6 8.7 7.1 5.6 5.6 3.8 4.0 (5) (3) 3.2 6.5 (34.5) 3.9 0.2 3.1 5.1 7.6 7.7 7.2 4.9 3.3 2.5 2 1.4 1 0.4 0.4
Depreciation & Amortization 0 0 2.3 2.7 2.8 2.8 2.8 2.8 3.5 3.8 3.7 3.7 3.7 3.8 4.4 3.7 4.0 4.1 4.3 4.2 4.2 4.2 4.2 4.3 4.7 4.5 5.0 0.4 0.3 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 (16.7) (19.1) (24.6) (14.3) (17.2) (11.6) (0.3) (2.6) 2.2 3.2 2.3 1.1 3.3 5.4 2.3 2.3 1.1 1.4 0.5 1.1 1.2 1.2 1.9 2.5 2.3 7.3 12.7 9.7 9.3 7.8 5.8 4.2 2.5 1.6 1.2 0.7 0.5 (0.1) (0.1) (0.2)
Stock-Based Compensation 0 0 5.1 4.6 5.1 3.8 4.7 5.6 6.7 4.1 3.4 5.2 6.3 5.4 5.1 5.3 8.2 4.1 4.9 5.6 4.2 4.2 3.9 4.1 3.2 4.4 3.3 4.2 3.1 3.0 3.1 4.0 3.7 2.6 2.4 3.1 2.2 2.1 2.1 2.7 5.8 0 0 1.6 0 0.3 0.5 0 0 0.0 0.2 0.0 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
Change in Working Capital (64.5) 60.0 (47.3) (60.9) 133.8 (92.8) 22.8 38.8 14.7 (65.2) 9.5 27.9 (23.7) (30.7) 6.1 (34.2) 22.2 (86.3) 35.9 (51.8) 79.4 11.2 47.5 120.8 53.3 63.5 (23.5) (56.6) (62.1) (22.2) (27.5) (18.5) 47.4 (0.8) 21.5 (15.3) (27.8) 30.5 31.0 9.8 (25.1) 9.3 (3.4) (2.4) (9.1) 11.7 (12.4) (1.0) (0.7) 2.1 8.0 3.1 1.3 (2.2) (0.7) (0.1) (1.2) (1.3) (2.3) 1.8 (2.9) (1.3) 1.4 2 (2.3) 9.7 (5.1) 1.9 (4.1) (5) 2.7 (3.8) (1.1) (733) 3.4 (1.4) (0.9) (0.7) (0.5) 0 0
Other Non-Cash Items (4,437.6) (3,440.6) (2,620.5) (1,961.2) (2,110.3) (761.1) (2,133.5) (2,028.7) (1,009.3) (1,112.1) (876.8) (118.1) 111.0 55.8 396.2 (74.0) (356.9) (1,887.3) (1,261.5) (1,734.0) (1,175.5) (391.8) (426.8) 43.6 720.0 (45.5) (646.4) (312.7) (181.6) (235.1) (691.5) (562.0) (247.5) (1,109.1) (404.9) (529.6) 242.4 153.9 (463.1) (489.7) 130.9 197.5 14.4 (16.4) (10.7) 2.3 2.4 2.5 (1.4) 0.9 268.0 25.0 (1,057.1) (365.0) (186.3) (212.9) 202.3 109.6 (9.7) 129.6 336.3 (402.3) 72.2 149.3 250.5 1,148.9 (1.8) 1.4 1.3 (0.1) 0.9 0.9 0.6 732.3 0.6 0.5 0.3 0 0.2 (0.7) 0
Operating Cash Flow (4,507.6) (3,360.6) (2,668.1) (2,113.2) (1,952.5) (854.0) (2,088.4) (1,966) (954.2) (1,148.4) (891.0) (78.4) 102.0 (9.7) 361.4 (199.1) (291.7) (1,914.3) (1,128.2) (1,685.9) (966.2) (329.5) (231.6) 297.0 (241.4) 35.7 (642.8) (352.0) (206.5) (248.7) (688.6) (531.1) (143.2) (1,084.1) (362.2) (520.5) 253.6 210.5 (395.5) (466.6) 106.0 220.2 32.8 21.2 21.0 30.1 6.1 25.8 17.5 19.9 293.0 44.6 (1,042.2) (352.9) (171.9) (202.0) 210.5 115.0 (5.1) 135.6 338.5 (407.4) 71.8 156.4 257.2 1,126.4 4.3 16.2 10 9.3 19 10.6 10.9 6.7 8.9 2.8 2.1 1.2 0.6 (0.4) 0.2
Investing Activities
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.1 0 0 (2.1) 0 0 0 0 (0.1) (0.3) (0.2) (0.1) (0.1) (1.5) (8.4) (5.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Acquisitions 0 0 2.2 7.1 8.5 (36.0) 9.3 15.4 11.3 (0.5) 9.0 0.3 (8.8) 141.3 (110.3) (44.1) (27.5) 0 (109.2) 0 0 0 0 0 0 (2.1) (193.2) 0 (3.7) (237.6) 0 0 0 0.1 0.3 0.2 0.1 0.1 1.5 8.4 5.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 (201.7) (16.5) (11.2) (43.1) (82.7) (55.8) (55.2) (108.1) 0 (9.9) 0 (248.2) 0 0 (15.0) (260.3) (10.7) (2.7) (15.9) (6.2) (54.2) (141.8) (89.9) (66.2) (260.7) (156.7) (227.6) (803.3) (217.1) (191.9) (128.1) (204.2) (160.7) (91.1) (144.9) (105.9) (73.8) (90.1) (48.4) (264.8) (244.0) (249.0) (267.7) (123.9) (334.0) (51.9) (248.8) (80.0) (209.7) (35.8) (48.9) (92.1) (128.2) (74.5) (77.2) (424.3) (9.6) 361.9 (393.5) (9.8) 2.9 0 0 (1,460.9) (135.7) (69.4) (161.8) 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 304.7 101.2 14.6 32.0 19.7 0.7 9.0 48.9 58.6 122.3 14.0 58.0 (0.9) 52.7 68.1 33.9 30.3 50.1 70.5 56.4 23.7 149.4 564.3 294.8 308.8 226.9 165.0 268.0 106.9 128.7 257.8 107.7 64.6 89.5 44.4 33.6 51.0 129.5 363.2 158.8 45.7 90.7 65.4 67.0 134.2 50.3 56.2 34.5 92.1 20.4 56.8 71.7 28.2 7.5 3.9 229.8 0.5 (35.5) 36.1 311.1 (191.7) 84.5 107.4 1,288.1 (442.9) 255.5 196.7 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 1,228.8 1,610.6 1,178.4 887.3 646.8 1,048.1 689.3 591.3 385.2 329.2 185.3 162.8 105.6 93.9 76.4 (75.3) 244.9 267.4 382.8 439.9 528.0 505.7 484.6 2,142.3 436.2 (118.3) 370.1 286.6 208.9 168.0 100.7 133.7 163.7 177.9 95.9 144.9 162.9 257.1 440.3 219.1 158.2 2,834.8 2,144.5 698.8 (2,191.0) (1,853.6) (2,447.2) (4,561.9) (1,942.9) (1,115.2) (1,450.9) (1,968.9) 131.3 90.0 93.3 93.2 87.4 210.5 79.5 (290.8) 7.9 (249.1) 237.6 3.8 (5.5) 75.9 595.7 (353.4) (335.2) 26.6 (75.6) (768.1) (455.7) (783.5) (367.6) (443.6) (134.2) (137.8) (124.8) (32.5) (21.7)
Investing Cash Flow 1,228.8 1,610.6 1,283.6 979.1 658.8 1,001.0 635.6 551.5 350.3 269.5 253.0 275.5 110.7 44.9 (34.9) (66.7) 270.5 41.1 293.2 487.2 582.6 555.9 454.1 2,149.8 910.6 110.3 418.2 356.8 140.6 (367.3) (9.4) 70.6 293.5 81.4 (0.2) 143.3 62.3 184.7 417.4 258.6 473.0 2,728.8 1,946.2 540.4 (2,393.4) (1,910.5) (2,647.0) (4,563.5) (2,135.5) (1,160.7) (1,568.5) (1,984.3) 139.2 69.7 (6.8) 26.3 14.0 16.0 70.4 35.6 (349.4) 52.2 48.8 88.3 101.9 (96.9) 17.1 (167.3) (300.3) 26.6 (75.6) (768.1) (455.7) (783.5) (367.6) (443.6) (134.2) (137.8) (124.8) (32.5) (21.7)
Financing Activities
Net Debt Issuance 3,154.5 1,911.7 1,324.6 1,276.4 1,360.4 (129.5) 1,467.5 1,450.5 600.0 927.8 441.4 (215.5) (89.6) (42.9) (342.0) 299.7 (63.1) 1,776.9 1,013.1 1,175.2 381.4 (188.1) (232.1) (2,223.4) (474.8) (341.0) 289.6 44.5 (74.3) 625.6 607.2 508.1 (77.6) 921.8 432.2 395.6 (283.4) (378.4) 8.1 147.2 (448.6) (2,833.8) (1,969.0) (548.7) 2,293.7 1,869.9 2,746.9 4,520.8 2,112.4 1,148.2 1,296.8 1,952.4 889.4 246.2 137.3 140.3 (216.4) (118.9) (63.4) (171.0) 6.4 350.1 (140.8) (214.8) (358) (969.8) 3.5 160.1 281.8 (50) 34.1 729.5 420.2 728 328.9 387.5 138.4 141.6 117.8 4.7 5.9
Stock Repurchased (1.1) (14.8) (29.6) 0 0 0 0 0 0 0 0 0 0 0 (29.6) 0 0 0 0 0 0 0 (21.7) 0 0 0 0 0 0 0 0 0 (16.3) (8.4) 0 0 0 (0.3) (3.5) (1.2) (23.0) 0 0 0 0 0 0 0 0 0 (89.9) 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
Dividends Paid (25.5) (25.8) (26.0) (27.1) (27.1) (26.8) (25.3) (23.9) (23.9) (23.7) (21.5) (20.8) (27.6) (27.0) (27.7) (28.2) (28.8) (27.5) (24.7) (21.0) (18.6) (16.2) (16.0) (51.8) 0 (35.2) (34.4) (30.1) (29.8) (26.1) (25.5) (23.4) (21.8) (22.1) (22.1) (22.0) (22.1) (22.1) (22.1) (22.0) (22.3) (17.4) (17.3) (16.3) (23.2) (12.4) (102.3) (11.6) (11.5) (13.0) (12.7) (12.5) (9.7) (8.3) (8.9) (7.4) (5.1) (3.7) (4.2) (3.8) (2.9) 0 0 0 0 0 (1.3) (4.5) (5.7) (9.4) (8.6) (7.9) (5.3) (4) (3.4) (2.6) (1.4) (1.1) (0.5) (0.3) (0.2)
Other Financing Activities (3.5) (2.2) (2.7) (13.5) (6.1) (3.8) (2.9) (13.2) (0.8) (6.9) (2.5) (4.6) (1.5) (5.2) (2.0) (17.9) (3.2) 7.9 (4.0) (1.2) (2.1) 19.7 (23.4) (6.0) (83.5) (9.0) (5.2) 1.6 (2.1) (4.5) (0.0) (5.1) (0.5) (1.6) (7.4) (1.0) (1.6) (3.0) (0.0) (4.2) (0.3) (12.8) 7.4 (8.7) 8.6 (6.5) 0 0 0 0 (0.0) 0 0 0 0 0 0.0 0 0 0 0 (4.1) 0 0 (0.1) 0 2.4 0 0.1 (0.1) 0 0 0 (0.1) 29.7 0.1 (0.1) (4.6) 6.4 29.1 15.8
Financing Cash Flow 3,124.4 1,869.0 1,266.5 1,235.9 1,327.3 (160.1) 1,439.3 1,413.5 575.5 987.9 450.9 (240.7) (51.6) (74.9) (401.2) 226.8 (27.5) 1,759.0 1,004.4 1,153.2 360.9 (206.2) (271.4) (2,277.7) (556.0) (361.4) 478.7 31.8 76.3 620.3 698.8 479.7 (116.1) 889.7 402.7 372.7 (307.0) (403.7) (17.5) 119.9 (494.1) (2,858.0) (1,971.5) (554.2) 2,352.9 1,879.7 2,667.1 4,533.3 2,111.7 1,144.5 1,294.1 1,947.1 906.2 284.1 162.0 183.5 (221.0) (122.6) (67.2) (174.8) 3.5 343.8 (155.8) (218.8) (374.1) (977.6) (29) 156 271.9 (68.7) 84.9 773.9 446.7 773.3 362.8 441.5 137 140.3 123.7 33.5 21.5
Cash Position
Net Change in Cash (154.4) 118.9 (118.0) 101.8 33.5 (13.0) (13.4) (1.0) (28.4) 109.1 (187.1) (43.6) 161.1 (39.7) (74.8) (39.0) (48.7) (114.2) 169.4 (45.5) (22.7) 20.2 (48.8) 169.1 113.2 (215.3) 254.0 36.6 10.4 4.3 0.7 19.1 34.2 (112.9) 40.4 (4.6) 8.9 (8.5) 4.4 (88.2) 84.9 91.0 7.5 7.5 (19.4) (0.6) 26.3 (4.4) (6.3) 3.7 18.6 7.5 3.2 0.9 (16.7) 7.7 3.5 8.4 (1.9) (3.6) (7.3) (11.5) (35.1) (218.8) (374.1) (977.6) (29) 156 271.9 (68.7) 84.9 773.9 446.7 773.3 362.8 441.5 137 140.3 123.7 33.5 0
Cash at Beginning 449.1 330.2 448.2 346.5 312.9 326.0 339.4 340.4 368.8 259.7 446.8 490.5 329.4 369.1 443.9 482.8 531.5 645.7 476.3 521.8 544.5 524.3 573.1 404.0 290.8 506.1 252.1 215.5 205.1 200.8 200.1 181.0 146.8 257.6 217.2 221.8 212.8 221.4 216.9 305.1 220.2 72.2 64.7 57.2 57.9 58.5 32.2 36.5 42.9 39.2 20.6 13.2 10.0 9.0 25.7 18.0 14.5 7.1 8.9 12.5 19.9 31.4 66.5 285.3 55.6 0 0 0 24.9 0 0 0 11.1 0 0 0 4.8 0 0 0 1
Cash at End 294.7 449.1 330.2 448.2 346.5 312.9 326.0 339.4 340.4 368.8 259.7 446.8 490.5 329.4 369.1 443.9 482.8 531.5 645.7 476.3 521.8 544.5 524.3 573.1 404.0 290.8 506.1 252.1 215.5 205.1 200.8 200.1 181.0 144.7 257.6 217.2 221.8 212.8 221.4 216.9 305.1 163.2 72.2 64.7 38.5 57.9 58.5 32.2 36.5 42.9 39.2 20.6 13.2 10.0 9.0 25.7 18.0 15.5 7.1 8.9 12.5 19.9 31.4 66.5 (318.5) (977.6) (29) 156 296.8 (68.7) 84.9 773.9 457.8 773.3 362.8 441.5 141.8 140.3 123.7 33.5 1
Free Cash Flow (4,507.6) (3,360.6) (2,668.1) (2,113.2) (1,952.5) (854.0) (2,088.4) (1,966) (954.2) (1,148.4) (891.0) (78.4) 102.0 (9.7) 361.4 (199.1) (291.7) (1,914.3) (1,128.2) (1,685.9) (966.2) (329.5) (231.6) 297.0 (241.4) 37.8 (642.8) (352.0) (208.6) (248.7) (688.6) (531.1) (143.2) (1,084.2) (362.4) (520.8) 253.5 210.4 (397.0) (475.0) 100.6 220.2 32.8 21.2 21.0 30.1 6.1 25.8 17.5 19.9 293.0 44.6 (1,042.2) (352.9) (171.9) (202.0) 210.5 115.0 (5.1) 135.6 338.5 (407.4) 71.8 156.4 257.2 1,126.4 4.3 16.2 10 9.3 19 10.6 10.9 6.7 8.9 2.8 2.1 1.2 0.6 (0.4) 0.2
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 87.1 210.7 327.6 217.6 307.9 30.9 69.7 67.4 74.5 57.0 10.8 43.3 42.8 (21.3) (2.2) (70.5) 71.9 99.8 140.3 145.0 160.0 134.4 188.5 200.7 (841.5) 121.8 63.5 62.3 79.5 21 68.2 54.8 71.9 45.6 62.7 67.4 64.4 11.4 72.5 89.0 87.0 55.9 65.0 39.4 54.0 65.8 70.0 44.2 33.2 56.3 38.9 84.3 90.9 97.3 58.6 33.9 45.4 17.8 16.8 24.0 30.5 36.0 35.3 44.4 73.6 56.7 52.0 31.6 (9.0) (463.3) 39.4 32.3 40.8 56.3 55.4 56.6 48.2 64.4 49.9 48.7 43.1 59.9 71.0 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 11.1 13.5 7.8 9.6 8.0 8.0
Gross Profit 78.4 201.4 43.0 (52.9) 63.8 21.2 60.2 58.9 68.7 50.2 5.2 38.7 42.8 (25.4) (6.5) (75.7) 65.8 89.8 135.7 141.3 156.4 131.0 186.3 199.1 (845.5) 117.4 61.6 62.3 79.5 30.6 65.1 50.9 69.2 38.1 60.4 64.3 62.2 9.4 70.5 86.2 84.6 53.1 62.1 35.8 51.2 63.5 67.8 41.4 30.8 54.1 36.9 80.9 88.4 74.0 54.8 32.2 41.7 17.8 16.8 24.0 30.5 36.0 35.3 44.4 73.6 56.7 52.0 31.6 (9.0) (463.3) 39.4 32.3 40.8 56.3 55.4 56.6 48.2 64.4 49.9 48.7 43.1 59.9 71.0 54.7 77.2 68.5 87.4 61.4 65.2 90.5 32.6 22.3 19.8 13.3 11.1 13.5 7.8 9.6 8.0 8.0
Operating Income (1.3) 329.1 (1.4) (93.9) 22.4 (11.3) 245.1 25.6 36.1 17.9 (24.5) 7.9 0 (57.6) (44.7) (105.9) 32.5 56.6 89.2 101.9 112.9 101.9 159.9 171.8 (873) 82.3 36.7 36.1 56.4 (20.3) 47.8 36.7 49.7 26.2 43.7 49.4 47.0 (5.7) 53.1 69.4 67.9 34.7 41.7 15.2 30.3 40.4 49.6 24.4 10.5 39.0 17.4 72.1 71.5 77.0 68.5 49 61.1 26.6 25.6 33.1 40.2 36.4 43.8 49.8 65.1 57.2 51.7 45.2 12.8 (11.2) (28.1) 53.9 (41.0) (926.2) 106.2 180.2 188.2 209.0 210.6 208.2 211.5 236.3 257.3 240.1 241.2 206.4 192.1 141.8 132.2 139.7 65.6 48.6 33.0 27.7 34.2 38.8 39.5 40.3 38.9 38.9
Net Income (5.5) 20.0 (7.7) (98.5) 16.1 (6.6) 14.8 15.5 30.3 21.0 (30.8) 2.9 4.6 (44.1) (50.4) (100.0) 30.9 44.0 88.3 90.0 97.3 54.3 141.8 165.4 (943.4) 49.1 34.3 31.3 54.5 (0.9) 40.9 32.7 46.8 30.9 36.2 36.3 37.0 25.4 52.6 41.3 12.1 41.1 19.2 27.1 14.8 27.1 45.1 16.0 11.6 24.4 21.4 63.7 58.6 40.8 39.7 19.5 30.5 (2.6) 1.3 9.4 18.2 14.7 19.9 28.6 46.8 40.3 27.1 6.7 (34.9) (115.6) (111.3) (45.9) (171.6) (1,077.4) (60.9) 11.4 18.3 35.7 32.4 31.4 28.0 42.5 55.9 40.9 60.6 54.4 72.3 55.1 50.8 69.9 22.2 15.2 14.5 9.6 7.1 7.4 5.6 5.6 3.8 4.0
EPS (Diluted) -0.07 0.13 -0.08 -0.76 0.10 -0.07 0.09 0.10 0.21 0.15 -0.29 0.00 0.02 -0.40 -0.44 -0.84 0.22 0.34 0.65 0.66 0.72 0.48 1.02 1.00 -8.28 0.38 0.31 0.30 0.49 -0.01 0.42 0.38 0.50 0.35 0.41 0.43 0.43 0.31 0.58 0.48 0.15 0.54 0.22 0.31 0.16 0.31 0.50 0.18 0.14 0.29 0.25 0.71 0.69 0.51 0.48 0.24 0.37 -0.03 0.01 0.11 0.22 0.19 0.25 0.35 0.58 0.52 0.34 0.10 -0.65 -2.16 -3.34 -1.40 -5.28 -33.14 -2.18 0.41 0.66 1.33 1.22 1.20 1.09 1.69 2.21 1.62 2.42 2.23 3.18 2.58 2.49 3.60 1.21 0.93 0.88 0.71 0.70 0.74 0.64 0.55 0.35 0.37
Balance Sheet
Cash & Equivalents 202 255.7 226.3 302.0 259.9 245.2 253.7 275.6 275.4 293.1 203.6 357 404.4 258.9 297 371 409 450.5 557 421 426 461 451 529 378 197 395 198.8 201 176 173.5 185 178.6 145 258 217 221.8 213 221 217 305 288.4 241.8 242.8 337.1 333.2 309.5 38.5 57.9 58.5 36.5 42.9 39.2 20.6 25.7 18.0 14.5 15.5 7.1 8.9 12.5 19.9 31.4 66.5 40.6 55.6 3.8 11.4 6.5 24.9 57.7 29.4 13 11 14.6 10.4 9.7 4.8 1.1 1.6 1 1
Total Assets 26,816 23,701.1 22,600.8 21,333.0 19,871.8 18,258.3 18,427.4 16,491.1 15,058.0 14,504.3 13,021.1 12,796.7 13,121.3 13,030.9 13,146 13,876 14,253 14,706.9 13,073 11,996 10,897 10,355 10,402 10,362 12,301 17,995 15,476 5,913.9 12,193 11,937 9,139.6 7,513 6,999.6 7,040 6,131 5,655 5,214.3 5,483 5,873 5,898 5,727 5,219.6 5,195.3 5,252.6 5,285.1 5,580.6 11,282.8 21,962.4 19,543.6 17,626.8 10,356.1 8,172.1 7,007.8 5,674.3 2,272.8 2,073.5 2,285.9 2,082.1 2,195.4 2,257.3 2,427.6 2,419.9 2,081.5 2,240.1 2,457 2,832.4 3,802.2 3,866.9 3,713.7 3,444.2 3,525.3 3,424.5 2,643.1 2,184.2 1,403.5 1,028.3 581.3 441.6 303.4 179.3 145.4 121.5
Total Debt 25,285 22,163.2 21,026.8 19,510.7 17,856.8 16,394.9 16,832.7 14,982.8 13,380.9 12,844.3 11,699 11,066.7 11,349.9 11,504.7 11,783 12,420 12,483 12,879.2 11,435 10,506 9,364 9,049 9,191 9,257 11,258 15,797 13,281 4,799.8 10,374 10,382 6,821.4 6,126 5,029.8 5,679 4,756 4,324 3,590.8 4,186 4,557 4,603 4,445 4,074.7 3,977.1 4,082.5 4,279.6 4,859.0 10,991.9 21,140.1 18,860.9 17,019.0 9,760.3 7,646.4 6,496.7 5,199.4 1,973.1 1,832.6 2,048.8 1,852.1 1,970.9 2,034.2 2,205.2 2,198.9 1,848.9 1,989.7 2,204.7 2,563.2 3,533.1 3,529.5 3,369.3 3,087.3 3,137.2 3,102.8 2,373.3 1,953.1 1,225.1 896.2 508.7 370.3 228.8 10.6 5.9 0
Stockholders' Equity 957 982.6 999.0 1,053.5 1,183.5 1,187.9 1,223 1,220.7 1,224.2 1,202.7 1,105.8 1,124.1 1,137.7 1,084.0 1,154 1,258 1,445 1,386.1 1,376 1,295 1,216 1,111 1,053 937 725 1,827 1,785 815.4 1,550 1,349 1,361.3 1,229 1,220.0 1,212 1,209 1,179 1,165.8 1,149 1,130 1,093 1,086 990.5 997.6 971.7 801.8 506.3 148.8 757.9 608.1 553.3 547.2 485.4 473.0 445.7 279.9 224.0 221.7 215.7 210.7 208.4 209.7 209.9 222.9 241.6 244.2 254.8 257.5 320.9 329.7 334.5 356.3 293.2 245.7 211 163.5 124.3 68.1 68.3 72.4 22.5 22.4 20.3
Cash Flow
Operating Cash Flow (4,507.6) (3,360.6) (2,668.1) (2,113.2) (1,952.5) (854.0) (2,088.4) (1,966) (954.2) (1,148.4) (891.0) (78.4) 102.0 (9.7) 361.4 (199.1) (291.7) (1,914.3) (1,128.2) (1,685.9) (966.2) (329.5) (231.6) 297.0 (241.4) 35.7 (642.8) (352.0) (206.5) (248.7) (688.6) (531.1) (143.2) (1,084.1) (362.2) (520.5) 253.6 210.5 (395.5) (466.6) 106.0 220.2 32.8 21.2 21.0 30.1 6.1 25.8 17.5 19.9 293.0 44.6 (1,042.2) (352.9) (171.9) (202.0) 210.5 115.0 (5.1) 135.6 338.5 (407.4) 71.8 156.4 257.2 1,126.4 4.3 16.2 10 9.3 19 10.6 10.9 6.7 8.9 2.8 2.1 1.2 0.6 (0.4) 0.2
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.1 0 0 (2.1) 0 0 0 0 (0.1) (0.3) (0.2) (0.1) (0.1) (1.5) (8.4) (5.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free Cash Flow (4,507.6) (3,360.6) (2,668.1) (2,113.2) (1,952.5) (854.0) (2,088.4) (1,966) (954.2) (1,148.4) (891.0) (78.4) 102.0 (9.7) 361.4 (199.1) (291.7) (1,914.3) (1,128.2) (1,685.9) (966.2) (329.5) (231.6) 297.0 (241.4) 37.8 (642.8) (352.0) (208.6) (248.7) (688.6) (531.1) (143.2) (1,084.2) (362.4) (520.8) 253.5 210.4 (397.0) (475.0) 100.6 220.2 32.8 21.2 21.0 30.1 6.1 25.8 17.5 19.9 293.0 44.6 (1,042.2) (352.9) (171.9) (202.0) 210.5 115.0 (5.1) 135.6 338.5 (407.4) 71.8 156.4 257.2 1,126.4 4.3 16.2 10 9.3 19 10.6 10.9 6.7 8.9 2.8 2.1 1.2 0.6 (0.4) 0.2