The Hanover Insurance Group, Inc. logo THG - The Hanover Insurance Group, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 12
HOLD 10
SELL 0
STRONG
SELL
0
| PRICE TARGET: $203.33 DETAILS
HIGH: $212.00
LOW: $195.00
MEDIAN: $203.00
CONSENSUS: $203.33
UPSIDE: 4.20%
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 1,701.4 1,671.9 1,658.2 1,650.9 1,595.7 1,578.3 1,561.3 1,535.3 1,541.9 1,528.8 1,516.6 1,504.4 1,443.7 1,478.7 1,366.3 1,292.9 1,330.7 1,374.7 1,274.9 1,307.8 1,282.1 1,297 1,243.7 1,224.3 1,056.2 1,257.9 1,214.7 1,198.6 1,219.5 1,102.8 1,166.6 1,133.4 1,091.5 1,332.2 1,085.9 1,266.1 1,260.9 1,252.6 1,241.2 1,136.3 1,227.6 1,205.4 1,227.9 1,333 1,298.7 1,285.1 1,265.6 1,273 1,243.9 1,229 1,201.8 1,182.6 1,180.3 1,184 1,157.7 1,127.2 1,121.8 1,135.9 1,108 853.9 833.8 833.3 804 768.3 746.6 730.3 708.5 696.4 698.9 663.4 642.1 685 695.3 702.2 671.8 665 698.1 654.5 671.2 653.8 664.6 656.3 628.8 656 681.1 768.3 665.4 778.9 796 769.6 822.8 814 798.4 812.7 795.6 848.4 775.5 815.8 783.7 768.9
Cost of Revenue 957.6 889.7 1,252 1,276.2 1,269.2 1,172 1,261.8 1,311.1 1,234.2 1,213.7 1,358.1 1,432.6 1,306.2 1,334.7 1,216.7 1,114.8 1,050.4 1,018 1,088 989.3 1,021.6 934.4 947.4 949.3 965.1 976.8 938.1 948.2 929.1 933.2 900.8 892.8 889.6 1,039.7 867.9 989.6 1,032.9 1,107.2 949.9 984.1 958.7 927 949.7 1,006.9 1,033.7 962.6 1,015.6 985.1 1,004.2 941.6 939.8 924.8 925.9 687.6 944.2 965.2 889.5 938.2 1,109.9 903.3 785.9 788.5 628 661.4 586 560.7 634.9 634.1 571.4 526.6 613.9 524.4 517.5 518.8 506.3 493.9 512.7 481.7 521.2 473 473.4 479.5 683.4 480.4 525 527.6 544.5 604.8 610.4 603.2 639.8 699.9 775.9 653.9 635.7 672.8 608.6 588 115.4 571.1
Gross Profit 743.8 782.2 406.2 374.7 326.5 406.3 299.5 224.2 307.7 315.1 158.5 71.8 137.5 144 149.6 178.1 280.3 356.7 186.9 318.5 260.5 362.6 296.3 275 91.1 281.1 276.6 250.4 290.4 169.6 265.8 240.6 201.9 292.5 218 276.5 228 145.4 291.3 152.2 268.9 278.4 278.2 326.1 265 322.5 250 287.9 239.7 287.4 262 257.8 254.4 496.4 213.5 162 232.3 197.7 (1.9) (49.4) 47.9 44.8 176 106.9 160.6 169.6 73.6 62.3 127.5 136.8 28.2 160.6 177.8 183.4 165.5 171.1 185.4 172.8 150 180.8 191.2 176.8 (54.6) 175.6 156.1 240.7 120.9 174.1 185.6 166.4 183 114.1 22.5 158.8 159.9 175.6 166.9 227.8 668.3 197.8
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 495.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 10.8 524.4 179.1 175.9 166.4 194.8 169.8 172.9 162.4 164.9 159.4 162.5 155 158.7 149.1 149.9 150.3 151.9 144.4 158.6 146.4 155.6 147.7 131.9 145 147.7 146.3 140.6 141.8 168.5 143.1 141 142.8 169.9 135.3 165.5 169 178.2 167.2 159.3 160.8 179 167.8 173.5 188 199.6 174.7 180.2 167.6 199.2 175.9 191.9 165.5 602.8 160.3 150.9 161.5 134.5 17.4 10.8 10.4 (30.8) 102.9 103.8 101.3 96.1 6.1 (34.3) 94.2 86.5 77.2 83.9 91.7 94.2 88 84.4 93.5 100.4 106.7 102.4 105.9 93.4 86.2 99.8 103.2 153.7 99 136.2 139.7 158 158.2 96.2 135.6 294.3 (521.4) 138.8 129.6 (479.7) 0 (453.4)
Operating Expenses 506.7 524.4 179.1 175.9 166.4 194.8 169.8 172.9 162.4 164.9 159.4 162.5 155 158.7 149.1 149.9 150.3 151.9 144.4 158.6 146.4 155.6 147.7 131.9 145 147.7 146.3 140.6 141.8 168.5 143.1 141 142.8 169.9 135.3 165.5 169 178.2 167.2 159.3 160.8 179 167.8 173.5 188 199.6 174.7 180.2 167.6 199.2 175.9 191.9 165.5 602.8 160.3 150.9 161.5 134.5 17.4 10.8 10.4 (30.8) 102.9 103.8 101.3 96.1 6.1 (34.3) 94.2 86.5 77.2 83.9 91.7 94.2 88 84.4 93.5 100.4 106.7 102.4 105.9 93.4 86.2 99.8 103.2 153.7 99 136.2 139.7 158 158.2 96.2 135.6 294.3 (521.4) 138.8 129.6 (479.7) 0 (453.4)
Operating Income
Operating Income 237.1 257.8 227.1 198.8 160.1 211.5 129.7 51.3 145.3 150.2 (0.9) (90.7) (17.5) (14.7) 0.5 28.2 130 204.8 42.5 159.9 114.1 207 148.6 143.1 (53.9) 133.4 130.3 109.8 148.6 1.1 122.7 99.6 59.1 122.6 82.7 111 59 (32.8) 124.1 (7.1) 108.1 99.4 110.4 152.6 77 122.9 75.3 107.7 72.1 88.2 86.1 65.9 88.9 (106.4) 53.2 11.1 70.8 63.2 (19.3) (60.2) 37.5 75.6 73.1 3.1 59.3 73.5 67.5 96.6 33.3 50.3 (49) 76.7 86.1 89.2 77.5 86.7 91.9 72.4 43.3 78.4 85.3 83.4 (140.8) 75.8 52.9 87 21.9 37.9 45.9 8.4 24.8 17.9 (113.1) (135.5) 681.3 36.8 37.3 707.5 668.3 651.2
Interest Expense 10.8 14.5 11.6 8.6 8.5 8.5 8.5 8.6 8.5 8.5 8.5 8.6 8.5 8.6 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 9.8 9.4 9.4 9.4 9.4 9.3 9.4 11.2 11.2 11.4 11.3 12.2 11.3 12.2 12 12.1 12.5 15.6 14.7 14.6 14.8 15 16.1 16.3 16.3 16.3 16.3 16.6 16.6 17.4 14.7 15.2 14.6 15.9 16.2 16.4 17.4 10.8 10.4 0 11.8 11.7 9.3 0 6.3 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
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 237.1 272.3 237.5 206.4 167.5 219.4 138.7 60.7 154.6 159.5 9.1 (80.3) (6.8) (3.2) 12.8 39.6 141.8 217.7 55.3 172.8 126.4 219.8 162.8 156.9 (39.4) 147.6 144.5 124.2 164.9 15.9 140.8 118.2 77.3 141.9 101.6 131 78.6 (14.6) 145 16.3 131.2 121.4 131.2 176.3 101.2 147.4 100 131.8 97.5 114.4 110.7 92.3 112 (81.6) 76.2 35.5 96.1 94 2.8 (46) 52.1 80.3 89.1 18.5 72.7 76.3 77.7 99.4 35.6 51.3 (44.2) 81.9 90.2 94.2 81.9 91.3 96.8 77.5 48.7 83.6 91 90.2 (133) 83.7 62 96.8 31.3 47 55.8 20.2 31.9 24.5 (108) (127) 686.6 40.4 41.7 712 674.5 658.9
EBIT 237.1 272.3 238.7 207.4 168.6 220 138.2 59.9 153.8 158.7 7.6 (82.1) (9) (6.1) 9 36.7 138.5 213.3 51 168.4 122.6 215.5 158.4 152.5 (44.5) 142.8 139.7 119.1 158 12.3 133.9 111 70.4 134.8 94 123.2 71 (20.7) 136.6 8.5 122.8 114 125.2 167.6 93.1 139.2 91.6 124 88.4 104.8 102.7 83.3 103.6 (91.2) 67.8 27 87 79.6 (1.9) (49.4) 47.9 75.6 84.9 14.8 68.6 73.5 73.8 96.6 33.3 50.3 (49) 76.7 86.1 89.2 77.5 86.7 91.9 72.4 43.3 78.4 85.3 83.4 (140.8) 75.8 52.9 87 21.9 37.9 45.9 8.4 24.8 17.9 (113.1) (135.5) 681.3 36.8 37.3 707.5 668.3 651.2
Income Before Tax 237.1 257.8 227.1 198.8 160.1 211.5 129.7 51.3 145.3 150.2 (0.9) (90.7) (17.5) (14.7) 0.5 28.2 130 204.8 42.5 159.9 114.1 207 148.6 143.1 (53.9) 133.4 130.3 109.8 148.6 1.1 122.7 99.6 59.1 122.6 82.7 111 59 (32.8) 124.1 (7.1) 108.1 99.4 110.4 152.6 77 122.9 75.3 107.7 72.1 88.2 86.1 65.9 88.9 (106.4) 53.2 11.1 70.8 63.2 (19.3) (60.2) 37.5 75.6 73.1 3.1 59.3 73.5 67.5 96.6 33.3 50.3 (49) 76.7 86.1 89.2 77.5 86.7 91.9 72.4 43.3 78.4 85.3 83.4 (140.8) 75.8 52.9 87 21.9 37.9 45.9 8.4 24.8 17.9 (113.1) (135.5) 11.5 36.8 37.3 75.6 56 37.7
Income Tax Expense 50.3 60.8 48.5 41.9 31.9 44.2 27.6 10.9 29.8 42.9 (9.1) (20.7) (5.5) (2.8) (0.1) 5.4 24.7 42 7.7 30.3 21.3 41.1 29.1 27.8 (15.2) 23.2 19.1 24.8 26 (1) 18.7 17.2 8.6 55.5 23.2 32.6 13.8 (20.6) 35.8 (9) 30 21.6 33.2 31.7 22.1 32.8 20.3 25.2 17.4 23.3 24.8 12.8 22.5 (51.1) 12.3 1.3 20.1 17.1 (9.3) (27.4) 9.6 18.2 21.7 0.9 17.1 17.6 18.9 33.5 13.1 27.5 (5.5) 28.8 29.1 26.3 26 29.9 28.1 22.9 14.8 24.7 25.3 (1) (35.4) 18.7 12.5 23.9 4.1 5.5 (23.4) (5.6) 0.4 (1) (61.6) (82.2) (1.7) 6.4 (26.3) 13.1 8.4 7.5
Net Income 186.8 198.5 178.7 157.1 128.2 167.9 102.1 40.5 115.5 107.9 8.6 (69.2) (12) (11.6) 0.5 22.7 104.9 163.5 34 128.5 92.7 164.6 118.9 115.2 (40) 109.8 118.9 74 122.4 123.6 100.4 99.3 67.7 51.5 11.1 78.4 45.2 (13.5) 88.4 2 78.2 77.6 78.3 120.7 54.9 89.9 54.9 82.6 54.6 70.1 61.3 53.4 66.2 (55) 40.4 20.8 49.7 49.3 (10) (32.2) 29.3 58.4 52.3 2.3 41.8 57.3 49.7 64.4 25.8 34.1 (61.8) (10.2) 58.5 75.8 53.9 59.8 63.6 45.5 33.4 50.9 40.5 118.7 (562.4) 72 46.5 63.1 17.7 32.4 12.1 14 24.4 14.9 (55.5) (70.7) 13.2 23.2 59.6 62.5 47.6 30.2
Per Share Data
EPS (Basic) 5.26 5.59 4.98 4.38 3.50 4.59 2.80 1.12 3.18 2.98 0.24 -1.94 -0.34 -0.33 0.01 0.63 2.95 4.61 0.95 3.58 2.51 4.49 3.18 3.03 -1.04 2.86 3.00 1.82 3.01 2.92 2.37 2.34 1.59 1.21 0.26 1.85 1.06 2.07 0.05 1.82 1.80 1.81 2.73 1.25 2.05 1.26 1.88 1.25 1.60 1.41 1.23 1.50 -1.24 0.91 0.47 1.09 -0.22 -0.71 0.65 1.16 0.05 0.94 0.97 1.26 0.51 -1.21 -0.20 1.13 1.04 1.16 1.24 0.66 1.00 0.76 -10.51 1.35 0.87 0.33 0.61 0.23 0.46 -1.05 0.25 0.44 1.18 0.89 0.56
EPS (Diluted) 5.15 5.47 4.91 4.30 3.50 4.59 2.80 1.12 3.18 2.98 0.24 -1.94 -0.34 -0.33 0.01 0.63 2.90 4.53 0.94 3.52 2.51 4.43 3.13 3.01 -1.04 2.76 2.96 1.79 2.97 2.88 2.33 2.31 1.57 1.20 0.26 1.83 1.05 2.06 0.05 1.80 1.76 1.74 2.68 1.22 2.00 1.22 1.84 1.22 1.57 1.37 1.19 1.46 -1.24 0.89 0.46 1.09 -0.22 -0.71 0.64 1.15 0.05 0.94 0.97 1.25 0.50 -1.21 -0.20 1.12 1.03 1.14 1.22 0.65 0.99 0.75 -10.51 1.34 0.86 0.33 0.60 0.23 0.46 -1.05 0.25 0.44 1.16 0.88 0.56
Shares Outstanding 35.5 35.5 35.9 35.9 35.9 36 36 36 35.8 35.8 35.8 35.7 35.3 35.6 35.6 35.6 35.5 35.5 35.7 35.9 36.4 36.7 37.4 38 38.3 38.4 39.6 40.7 40.6 42.3 42.3 42.5 42.5 42.5 42.4 42.5 42.5 46.0 42.7 50 43.5 43 44.9 44.9 45 45 44.9 44.9 43.8 43.7 43.6 43.5 44 44.3 44.3 44.5 45.5 44.6 45.3 45.4 45.2 45.2 44.9 45.5 44.6 44.6 51.2 51.1 51.1 51.1 51 51.3 51.7 51.7 51.8 51.6 51.2 51.2 50.9 51 53.1 53.1 53.5 53.4 53.3 53.3 53.2 53.2 53.1 53.1 52.9 52.9 52.9 52.8 52.6 52.6 52.6 53.1 53.4 53.9
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
Current Assets
Cash & Cash Equivalents 243.5 1,122.7 915.7 244.1 315.1 435.5 427.1 337.6 264.6 316.1 294.5 167.6 181.5 305 164.8 145.9 272 230.9 171.2 106.4 112.1 120.6 231.5 182.6 143.9 215.7 157.6 179.8 168.5 1,020.7 117.9 244.9 258 376.4 227.2 317.8 257 282.6 315.9 361.6 406.7 260.9 209.2 316.5 281 345.8 229.7 216.2 189.5 380.5 351.5 267.7 389.8 952.3 600.9 482.7 823.4 279.2 305.5 0 302.7 442.2 0 0 0 550.3 0 0 0 215.1 0 0 0 178.5 0 0 0 0
Short-Term Investments 1,783.9 1,873.8 4,125.8 3,963.2 3,840.9 1,587.6 3,386 3,114.1 2,965.5 7,985.3 1,848 7,598 7,678.2 7,481.8 7,200.9 7,244.7 7,382.2 7,723.9 7,699.2 7,555.8 7,370.3 7,454.4 7,473 7,079 6,625 6,687.1 6,946.3 6,598.9 6,559.4 6,161.5 6,092.6 7,729.9 7,758.3 5,749.3 7,890.5 7,509.7 7,340.8 7,331.3 7,400.2 7,142 7,062.8 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
Net Receivables 1,855.9 3,952.5 3,979.2 3,948.9 3,909.2 3,865.1 3,906.6 3,851.2 3,739.3 3,761.7 3,763.6 3,671.1 3,573.1 3,565.9 3,569.6 3,461.9 3,423.4 3,376.8 3,505.8 3,337.7 3,252.5 3,213.6 3,194.1 3,109.9 3,091.4 3,074.4 3,033 2,930.8 2,842.6 2,825.3 2,803.8 4,605.7 4,564.7 2,721.2 4,636.5 4,300.5 4,248.3 4,049.9 4,190 4,197.9 4,172.1 760.1 654.6 590.8 605.7 584.9 2,034.3 2,518 2,615.1 2,592.1 2,609.2 2,665 2,640.5 2,018.2 2,016.2 2,035.1 2,028.5 618.1 1,941.1 628.8 1,878.9 583.5 600.9 611.6 536.6 529.4 551.8 579.9 563 554.4 548.4 533.4 542.5 533 557.1 534 540.9 526.7
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 (1,783.9) 0 0 0 0 0 0 (5,151.6) (6,969.4) (12,063.1) (5,906.1) (11,436.7) (11,432.8) (11,352.7) (10,935.3) (10,852.5) (11,077.6) (11,331.6) (11,376.2) (10,999.9) (10,734.9) (10,788.6) (10,898.6) (10,371.5) (9,860.3) (9,977.2) (10,136.9) (9,709.5) (9,570.5) (10,007.5) (9,014.3) (12,580.5) (12,581) (8,768.4) (12,754.2) (12,128) (11,846.1) (11,663.8) (11,906.1) (11,701.5) (11,641.6) (1,021) (863.8) (907.3) (886.7) (930.7) (2,264) (2,734.2) (2,804.6) (2,972.6) (2,960.7) (2,932.7) (3,030.3) (2,970.5) (2,617.1) (2,517.8) (2,851.9) (897.3) (2,246.6) (628.8) (2,181.6) (1,025.7) (600.9) (611.6) (536.6) (1,079.7) (551.8) (579.9) (563) (769.5) (548.4) (533.4) (542.5) (711.5) (557.1) (534) (540.9) (526.7)
Total Current Assets 2,099.4 6,949 9,020.7 8,156.2 8,065.2 5,888.2 7,719.7 2,151.3 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25.1 0 0 0 0 0 0 0 0 0 0 0
Goodwill 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 178.8 192.1 192.6 192.6 185.3 185.2 184.9 184.8 185.1 185.2 185.7 179.1 171.4 171.4 170 169.6 126 128.2 128.2 128.2 131.2 131.2 131.2 131.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 703 708.3 674.5 656.9 662.8 662.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 9,017.8 8,508.9 6,241.6 5,978.1 5,848.6 7,822.2 6,144.7 8,983.4 8,152.8 8,116.2 7,741.8 7,830.7 7,913 7,723.7 7,600.4 7,674.5 7,989.2 8,385.2 8,314.7 8,174.4 8,011.3 8,052.9 7,963.5 7,537.9 7,072 7,262.8 7,517.1 7,130.2 7,064.1 6,625.9 6,667.4 8,283.9 8,309.2 6,325.5 8,457 8,115.2 7,941.3 7,915.7 8,012.7 7,724.7 7,598.8 4,826.9 4,788.2 4,684.8 4,495.7 4,395 5,744.5 7,608.5 7,729.2 7,661.8 7,599.7 7,540.1 8,055.9 8,999.6 9,277.3 9,106.4 8,521.4 7,806 7,726.6 0 7,289.5 7,017 0 0 0 8,177.9 0 0 0 7,792.7 0 0 0 7,961.4 0 0 0 0
Other Non-Current Assets (8,915.5) 522.9 530.7 613.6 578.9 548.3 532.8 5,710 (8,331.6) (8,295) (7,920.6) (8,009.5) (8,091.8) (7,902.5) (7,779.2) (7,853.3) (8,168) (8,564) (8,493.5) (8,353.2) (8,190.1) (8,231.7) (8,142.3) (7,716.7) (7,250.8) (7,441.6) (7,695.9) (7,309) (7,242.9) (6,804.7) (6,846.2) (8,476) (8,501.8) (6,504.3) (8,642.3) (8,300.4) (8,126.2) (8,100.5) (8,197.8) (7,909.9) (7,784.5) (5,006) (4,959.6) (4,856.2) (4,665.7) (4,564.6) (5,870.5) (7,736.7) (7,857.4) (7,790) (7,730.9) (7,671.3) (8,187.1) (9,130.8) (9,277.3) (9,106.4) (8,521.4) (7,806) (7,726.6) 0 (7,289.5) (7,017) 0 0 0 (8,177.9) (25.1) 0 0 (7,792.7) 0 0 0 (7,961.4) 0 0 0 0
Total Non-Current Assets 281.1 9,996.9 7,753.5 7,575.9 7,405.1 9,386.3 7,647.3 14,872.2 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 0 0 0 0 0 0 0 0 0 0 0 0 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 Assets 16,527.7 16,945.9 16,774.2 15,732.1 15,470.3 15,274.5 15,367 14,872.2 14,594.1 14,612.6 14,315 14,186.7 14,091.7 13,995.1 13,745.9 13,600.9 13,847.2 14,254.3 14,105.3 13,728.1 13,448 13,443.7 13,393.8 12,838.6 12,277.4 12,490.5 12,627.2 12,159.9 11,983.4 12,399.7 15,624.3 15,403.6 15,334.2 15,469.6 15,389.3 14,792.7 14,490.8 14,220.4 14,363.7 14,163.6 14,027.7 8,373.4 8,068.5 8,042.7 7,747.7 7,698.1 9,845.2 23,664.2 24,380.4 25,510.1 25,173.2 24,372.8 26,627 27,528.6 28,913.8 31,437.5 30,556.4 31,588 32,634.8 32,088.6 31,854.1 30,769.6 29,080 29,826.4 28,461.2 27,653.1 25,244.6 25,816.4 24,511.8 22,549 21,967.2 20,963.5 19,625.6 18,970.3 18,728.9 18,506.1 18,162.7 17,757.7
Current Liabilities
Account Payables 43.4 45.2 41.7 49.8 45.8 37.7 50.9 59.2 61.6 64.3 63.8 69.5 76.2 70.3 78.5 77.2 70.1 55.1 68.1 66.8 57.3 48.4 67.3 62.2 58.5 53.4 52.8 53.2 46.8 37.3 46.4 452.9 469.8 51.5 366.9 334.7 341.8 251.9 283.7 274.7 301.6 58.7 53 58.5 65.1 54.2 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
Short-Term Debt 50.1 0 436.8 436.8 61.8 61.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 54 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 71 69.3 64.6 56.6 53.9 51.4 48.1 45 43.8 50.2 84.7 221.3 58.5 46.6 40.1 33 189.3 34.4 67.6 38.4 326.1 501.7 189.9 31.2
Deferred Revenue 0 3,440.4 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 0 0 0 0 0 0 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 (693.9) 7,755.2 (744.2) (49.8) (726.2) (37.7) (826) 5,425.6 (740.7) 5,252 (791.4) (721.2) (694.8) (70.3) 0 (715.6) 0 0 0 0 (659.1) (735.9) 0 (675.5) (624.5) (681.1) 14.5 0 0 0 0 0 0 0 0 0 0 0 0 (594) (594.1) (500.7) (395.7) (603.2) (623.2) (614.9) 0 0 (115.4) 0 (1,049.9) (971.4) (1,674.6) (1,100.5) (971.2) (919) (956.7) (946.7) (940.1) (51.4) (885.3) (913.5) (43.8) (50.2) (84.7) (987.6) (58.5) (46.6) (40.1) (741.4) (189.3) (34.4) (67.6) (692.1) (326.1) (501.7) (189.9) (31.2)
Total Current Liabilities 50.1 12,047.5 436.8 1,038.3 0 819.6 0 6,220 0 6,092.2 0 0 0 731.7 78.5 0 70.1 55.1 68.1 66.8 0 0 67.3 0 0 0 67.3 53.2 46.8 37.3 46.4 452.9 469.8 344.8 366.9 334.7 341.8 251.9 283.7 868.7 895.7 58.7 53 58.5 65.1 54.2 727.1 905 729.7 959.2 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
Non-Current Liabilities
Long-Term Debt 793.7 1,218.3 843 347.8 722.5 722.3 783.9 783.7 783.4 783.2 783 782.8 782.6 782.4 782.2 782 781.8 781.6 781.4 781.2 781 780.8 780.4 652.8 653.5 653.4 667.8 653.1 653 777.9 777.6 787.1 787 786.9 786.8 786.7 786.6 786.4 797.9 797.8 803.4 632.4 632.3 433.9 309.9 530.5 514 508.8 508.8 499.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 199.5 202.1 202.1 202.1 202.2 202.2 202.2 202.2 202.2 202.2 202.3
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 69.6 83.2 64 97.3 84.6 74.9 0 51.8 46.3 29.2 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 0 0 0 0 0 0 0 12.9 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 12,113.5 108.6 12,068.1 11,129.7 (722.5) 10,890.8 (783.9) 11,536.3 (783.4) 11,363.8 (783) (782.8) (782.6) 10,157.5 10,667.8 (782) 10,232.6 10,327.8 10,152 9,709.7 (845) (878.1) 9,373.8 (727.7) (653.5) (705.2) 8,826.3 8,536.5 8,403.4 8,667.1 11,864.3 11,676.7 11,634.1 11,685 11,630.5 11,033.5 10,790.7 10,576.5 10,520.1 10,356.1 10,267.3 0 0 0 0 0 0 20,155.1 20,852.6 21,570.1 (199.5) (199.5) (199.5) (199.5) 0 0 0 0 0 (199.5) 0 0 (199.5) (199.5) (199.5) 0 (199.5) (199.5) (202.1) 0 (202.1) (202.2) (202.2) 0 (202.2) (202.2) (202.2) (202.3)
Total Non-Current Liabilities 12,907.2 1,326.9 12,911.1 11,477.5 0 11,613.1 0 12,320 0 12,147 0 0 0 10,939.9 11,450 0 11,014.4 11,109.4 11,003 10,574.1 0 0 10,238.8 0 0 0 9,540.4 9,218.8 9,056.4 9,445 12,641.9 12,463.8 12,421.1 12,471.9 12,417.3 11,820.2 11,577.3 11,362.9 11,318 11,153.9 11,070.7 632.4 632.3 433.9 309.9 530.5 514 508.8 508.8 499.5 0 0 0 0 199.5 199.5 199.5 199.5 199.5 0 199.5 199.5 0 0 0 199.5 0 0 0 215 0 0 0 202.2 0 0 0 0
Total Liabilities 12,957.3 13,374.4 13,347.9 12,515.8 12,425.9 12,432.7 12,489.3 12,320 12,071.4 12,147 12,198.7 11,948.8 11,702.7 11,661.4 11,450 11,029.1 11,014.4 11,109.4 11,003 10,574.1 10,401.2 10,241.5 10,238.8 9,766.9 9,540.8 9,574.3 9,540.4 9,218.8 9,056.4 9,445 12,641.9 12,463.8 12,421.1 12,471.9 12,417.3 11,820.2 11,577.3 11,362.9 11,318 11,153.9 11,070.7 6,021.8 5,766.3 5,684.1 5,526.6 5,730.5 7,652.6 21,457 22,091.1 22,892.3 22,647.6 21,956.9 24,254.8 25,123.2 26,084 28,634.8 27,753.9 28,878.9 29,977.5 29,500 29,286.4 28,245.4 26,580.3 27,277.7 25,773.7 24,894.5 22,310.6 22,814.8 21,583.6 19,714.8 19,257.6 18,050.3 16,871.2 16,461.6 16,344.5 16,218.8 15,872.3 15,425
Stockholders' Equity
Common Stock 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0
Retained Earnings 3,894.5 3,741.6 3,577.3 3,431.2 3,306.8 3,209.6 3,074.5 3,003.4 2,993.9 2,909.4 2,832.3 2,853 2,951.6 2,992.9 3,029.6 3,056.7 3,061 2,983.2 2,846.7 2,837.9 2,734.9 2,668 2,529.2 2,435.1 2,344.9 2,410.9 2,423.1 2,328.1 2,278.7 2,182.3 2,277.6 2,200.4 2,124.1 1,975 1,946.5 1,956.6 1,899.4 1,875.6 1,910.4 1,841.5 1,860.4 1,163 1,173.8 1,141.1 1,073.3 976.3 892.8 877.6 845.2 833.1 807.7 783.3 746.2 731.3 1,136.3 1,105.1 1,091.9 1,068.7 1,009.1 960 912.4 882.2 813.8 814.2 754 599.9 534 528.9 471.5 407.8 316.3 258.6 223.5 210.1 167.3 123.1 83 38.2
Accumulated Other Comprehensive Income (237.9) (171.4) (198.3) (287.2) (344.7) (456.3) (299.5) (540.8) (548.9) (517.2) (780.3) (670.9) (607.7) (701.5) (766.1) (519.9) (256.6) 122.2 203.2 250.5 187.7 372.5 352.4 323.5 70.6 152.6 153.5 108.2 3.8 (116.5) (190.8) (169.1) (120.4) 107.6 114 106.9 89.2 62.8 227 229.4 151.4 126.2 67.8 28.8 (173) (333.1) (66.7) (47.2) 67.2 16.1 47.3 (38.6) (37.4) 11.5 44.7 45.6 63.8 (5.2) (36.3) 0 (49.4) (75.3) 0 0 0 180.5 0 0 0 217.9 0 0 0 131.6 0 0 0 0
Total Stockholders' Equity 3,570.4 3,571.5 3,426.3 3,216.3 3,044.4 2,841.8 2,877.7 2,552.2 2,522.7 2,465.6 2,116.3 2,237.9 2,389 2,333.7 2,295.9 2,571.8 2,832.8 3,144.9 3,102.3 3,154 3,046.8 3,202.2 3,155 3,071.7 2,736.6 2,916.2 3,086.8 2,941.1 2,927 2,954.7 2,982.4 2,939.8 2,913.1 2,997.7 2,972 2,972.5 2,913.5 2,857.5 3,045.7 3,009.7 2,957 2,351.6 2,302.2 2,358.6 2,221.1 1,967.6 2,192.6 2,207.2 2,289.3 2,220.2 2,225.6 2,115.9 2,072.2 2,105.4 2,529.8 2,502.7 2,502.5 2,409.1 2,357.3 2,288.6 2,267.7 2,240.2 2,199.7 2,248.7 2,387.5 2,458.6 2,480.3 2,539.4 2,468.8 2,381.3 2,263.4 1,782.5 1,672 1,724.7 1,633 1,563.5 1,555.9 1,574.2
Total Liabilities & Equity 16,527.7 16,945.9 16,774.2 15,732.1 15,470.3 15,274.5 15,367 14,872.2 14,594.1 14,612.6 14,315 14,186.7 14,091.7 13,995.1 13,745.9 13,600.9 13,847.2 14,254.3 14,105.3 13,728.1 13,448 13,443.7 13,393.8 12,838.6 12,277.4 12,490.5 12,627.2 12,159.9 11,983.4 12,399.7 15,624.3 15,403.6 15,334.2 15,469.6 15,389.3 14,792.7 14,490.8 14,220.4 14,363.7 14,163.6 14,027.7 8,373.4 8,068.5 8,042.7 7,747.7 7,698.1 9,845.2 23,664.2 24,380.4 25,112.5 25,173.2 24,372.8 26,627 27,528.6 28,913.8 31,437.5 30,556.4 31,588 32,634.8 32,088.6 31,854.1 30,769.6 29,080 29,826.4 28,461.2 27,653.1 25,244.6 25,816.4 24,511.8 22,549 21,967.2 20,963.5 19,625.6 18,970.3 18,728.9 18,506.1 18,162.7 17,757.7
Debt Metrics
Total Debt 843.8 1,218.3 1,279.8 784.6 784.3 784.1 783.9 783.7 783.4 783.2 783 782.8 782.6 782.4 782.2 782 781.8 781.6 781.4 781.2 781 780.8 780.4 652.8 707.5 653.4 667.8 653.1 653 777.9 777.6 787.1 787 786.9 786.8 786.7 786.6 786.4 797.9 797.8 803.4 632.4 632.3 433.9 309.9 530.5 514 508.8 508.8 499.5 199.5 199.5 199.5 199.5 270.5 268.8 264.1 256.1 253.4 250.9 247.6 244.5 243.3 249.7 284.2 420.8 258 246.1 242.2 235.1 391.4 236.6 269.8 240.6 528.3 703.9 392.1 233.5
Net Debt 600.3 95.6 364.1 540.5 469.2 348.6 356.8 446.1 518.8 467.1 488.5 615.2 601.1 477.4 617.4 636.1 509.8 550.7 610.2 674.8 668.9 660.2 548.9 470.2 563.6 437.7 510.2 473.3 484.5 (242.8) 659.7 542.2 529 410.5 559.6 468.9 529.6 503.8 482 436.2 396.7 371.5 423.1 117.4 28.9 184.7 284.3 292.6 319.3 119 (152) (68.2) (190.3) (752.8) (330.4) (213.9) (559.3) (23.1) (52.1) 250.9 (55.1) (197.7) 243.3 249.7 284.2 (129.5) 258 246.1 242.2 20 391.4 236.6 269.8 62.1 528.3 703.9 392.1 233.5
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 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
Operating Activities
Net Income 186.8 198.5 178.7 157.1 128.2 167.9 102.1 40.5 115.5 107.9 8.6 (69.2) (12) (11.6) 0.2 22.7 104.8 163.5 34 128.5 92.7 164.6 118.9 115.2 (40) 109.8 118.9 74 122.4 123.6 100.4 99.3 67.7 51.5 11.1 78.4 45.2 (13.5) 88.4 2 78.2 (562.4) 72 46.5 32.4 12.1 14 11.4 24.4 37.1 46.2 (313.4) (55.5) 47.9 (70.7) 31.2 13.2 59.6 62.5 47.6 30.2 68.4 59.1 63.5 154.1 65.9 8.2 55.9 66.8 94.9 60.7 37.7 15.9 45.3 46.7 42.6 47.3
Depreciation & Amortization (1.8) (1.3) (1.2) (1) (1.1) (0.6) 0.5 0.8 0.8 0.8 1.5 1.8 2.2 2.9 3.8 2.9 3.3 4.4 4.3 4.4 3.8 4.3 4.4 4.4 5.1 4.8 4.8 5.1 6.9 3.6 6.9 7.2 6.9 7.1 7.6 7.8 7.6 6.1 8.4 7.8 8.4 7.8 7.9 9 9.1 9.9 11.8 9.4 7.1 7.5 6.6 2.4 5.1 6.5 8.5 5.6 5.3 4.4 4.5 6.2 7.7 8.4 8 9 8.8 (2.4) 8.2 7.4 7.7 11.1 6.8 7.4 6.3 0 0 0 0
Stock-Based Compensation 6.6 0 10 11.2 6.6 7.5 8.7 8.1 6.7 7.2 8.6 8.2 7.1 7.2 7.7 7.4 6.7 6.1 5.8 5.4 5.6 5.7 4.9 4.5 5 4.7 4.1 4.4 4.2 1.3 4.5 4.6 3 (1) 3.7 4.1 3.2 3.5 3 2.7 2.8 0 0.2 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 0 0 0
Change in Working Capital (75.7) 151.2 2.4 75.9 (78.3) 16.9 152.3 95.2 (43.5) (37.9) 139.8 133 37.2 245.4 254.7 107.4 (45.7) 238.8 211.7 91.1 83.6 68.7 190.4 140 (47.9) 95 110 51 (18.6) 75.1 154.5 44.5 (25.8) 88.9 250.2 115.8 18.7 197 200.1 85.9 26.6 124.4 (157.9) (55.5) 87.6 2 (651.5) 28.9 (15.5) (185.3) (1,909.5) 1,531.1 257.8 116.8 531.6 114.6 (560.5) (243.2) 317.3 113.8 (322.1) (194.4) (67.2) (160.2) 7.8 91 111 (91.3) (231.9) (540.7) (9.3) (356.4) 248 (212.7) 103.3 (282.2) 179.8
Other Non-Cash Items 4.2 29.8 351.6 (32.2) (18.4) 26.3 140.2 1.2 (21.9) 17.8 74.2 (41.8) (8.7) (41.4) 61.7 (107.9) 136.5 (196) 32.7 (62.2) (56.5) (87.2) 3.3 (84.8) 151.1 (33.9) 35.5 (19.9) (91.5) (89.5) 10.8 (10.9) (13) (17) 20.5 (38.2) (0.4) 9.7 (1.9) 71.3 (31.1) 590 169 (60.9) 26.2 (221.2) 607.4 40.2 25.8 (145) 1,209.5 (431.4) (78.2) (102.1) (138) (43.8) 705.7 169 (75.2) (187.3) 162.5 100.1 (32.8) 90.2 (126.4) (117.6) (24.8) 26 87.2 187.5 30.5 238.8 (219.2) 175 (24) 154.9 (111.8)
Operating Cash Flow 118.8 378.2 554.4 206.6 38.9 213.5 394.7 139.5 58.7 92.7 224.7 26.2 18.1 198.5 315.1 8.6 200.1 228.3 286.4 167.2 141.8 161 320.8 189.2 36.6 179 273.3 113.4 37.2 84.9 286.9 148.1 31.4 172.4 282.4 195.6 54.2 179.5 326.1 151.9 82 115.3 102.5 (47.1) 155.4 (194.5) (16.4) 105.4 (13.5) (249.8) (629) 523.2 80.8 68.8 175.4 167.6 184.8 (38.5) 316.9 (16.4) (103) (0.1) (31.2) 8.5 38 43.8 80.7 17 (75.8) (220) 71.8 (79.7) 54.7 10.8 114.6 (84.7) 115.3
Investing Activities
Capital Expenditure (3.5) (1.2) (3) (1.7) (1.8) (3) (2.4) (2.2) (2.6) (2.2) (2.9) (3.3) (3.5) (3.9) (4) (5) (4.9) (2.3) (2.1) (1.3) (2.3) (2.8) (4.3) (4.6) (3.2) (3.1) (3.7) (2.6) (3.9) (0.7) (4.6) (4.3) (3.5) (7.9) (2.1) (4.3) (4.3) (3.5) (3.7) (2.1) (6.4) (1.7) 0 (0.8) (1.1) (1.1) (2.2) (0.9) (0.4) (1.9) (6.2) (3.4) (1.6) (1.9) (9.4) (8.1) (11.3) (5.3) (2.1) (3.9) (2.4) (6.1) (8.1) (7.2) (8.7) (3.6) (1) (1.6) (1.7) (9.9) (2.6) (0.5) (3.3) (4.8) (3.1) (0.9) (5.8)
Acquisitions 0 0 0 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 24.4 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 0 0
Purchases of Investments (12.9) (514.6) 1,800.6 (1,037.5) (827.6) (1,117.5) (956.5) (934.8) (303.9) (329) (313) (206.1) (282.5) (563.1) (473.6) (636.4) (411.4) (605.7) (555.6) (470.8) (670.8) (501.5) (654.3) (442.2) (486.2) (474.9) (663) (261.6) (521) (202.5) (486) (457.4) (458) (431.7) (654.8) (428.5) (353.4) (636.8) (753.2) (569.4) (412.7) (522.4) (553.8) (365.3) (541.8) (505.7) (175.2) (652.3) (833.3) (836.3) (850.4) (902.1) (967.1) (734.8) (1,969.8) (1,022.7) (1,257.4) (820.3) (1,129.7) (893.7) (1,167.6) (495.7) (257.6) (851.1) (1,142.5) (632.2) (412.6) (1,059) (912.5) (775.2) (698.7) (595.8) (910) (635.3) (715.3) (1,287.4) (1,452.3)
Sales/Maturities of Investments 38.3 492.2 (1,461.4) 817.1 717.1 970.4 676.9 903 231.7 289.1 247.5 197.9 179.5 535.6 219 536 304.1 485.5 380.6 390.1 594.5 375.8 335 390 389.5 671.3 376.9 317.8 221.2 304.3 259.3 371.9 317.1 432.3 313.3 334.7 309.9 457 416.8 519.5 480.1 496.3 661.1 825.5 428.6 706.3 518.1 545.8 978.2 1,045.1 1,998.8 1,126.7 1,221.9 962.9 2,040.9 993 531.1 757.1 862.4 708.7 876.4 808.6 940 804.1 1,027.7 901.6 382.9 815.4 651.3 1,241.8 527.3 701.5 1,062.1 1,161.3 836.3 1,238 1,287.8
Other Investing Activities (515.7) 2 (644.7) (0.2) 0.5 (0.2) 3.5 (3.9) 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 0.2 (9.7) 0 0 0 12.1 0 0 (14.9) (16.9) 13.5 15.4 (6.4) (232.7) 7 4.5 (9.2) (336.8) (37.4) 12.6 (12.6) (239.4) 11.8 35.2 0.2 (65) (11.4) 11.4 (8.5) 0 0 0 (343.4) (18.9) (51.4) 62.8 (157.3) (267.6) 48.7 (48.1) (121.2) 121.2 1.1 3.2
Investing Cash Flow (493.8) (21.6) (308.5) (222.3) (111.8) (150.3) (278.5) (37.9) (74.8) (42.1) (68.4) (11.5) (106.5) (31.4) (258.6) (105.4) (112.2) (122.5) (177.1) (82) (78.6) (128.5) (323.6) (56.8) (99.9) 193.3 (289.8) 63.9 (279.3) 736.8 (231.3) (89.8) (144.4) (7.1) (353.3) (98.1) (47.8) (176.4) (328) (52) 61 (42.7) 87.8 472.9 (98.9) 193.1 108 (100.4) 149 197.7 805.4 183.8 265.8 213.6 (177.7) (26) (702.4) (68.3) (334.4) (200.3) (282.2) 298.3 674.3 (54.2) (123.5) (70.4) (54.6) (319.8) (200.1) 299.4 (441.6) 154.9 100.7 400 239.1 (47.4) (167.1)
Financing Activities
Net Debt Issuance (375) (61.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 121.5 (54.9) 54 (14.5) 14.5 0 (151.1) 0 (11.6) (33) 33 0 0 0 0 (13.9) 0 (90.8) 0 71.9 57.8 (102.4) 0 0 0 0 0 0 0 (74.4) (57.9) 49 12.3 1.7 4.7 2.7 2.5 3.3 3.1 1.2 (6.4) (34.6) (136.5) 160.2 11.9 6.5 7.1 (156.3) 154.8 (33.2) 29.2 (287.8) (175.6) 311.8 158.7
Stock Repurchased (86.9) (54.6) (36) (27.6) (11) 0 0 0 0 0 0 0 0 0 (10.4) (4.1) (16.3) (20) (24) (73.3) (45.3) (118.5) (45) (14.4) (34.9) (163.6) 3.9 (150) (250) (13.5) (18.9) (11.7) (13.6) 0 (9.2) (23.4) (4.6) (0.4) (37.7) (19.1) (48.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (40.8) 6.8 (27.2) (30.5) 6.2 0 (128.8) (121.4) (74.7) 0 0 0 0 0 0 0 0 (0.2) 0 0
Dividends Paid (33.5) (33.7) (32.2) (32.3) (32.4) (32.4) (30.6) (30.6) (30.5) (30.3) (29) (29) (28.9) (28.8) (26.7) (26.7) (26.7) (26.6) (25) (25.1) (25.5) (25.5) (24.5) (24.7) (24.8) (120.9) (23.8) (24.5) (217) (25.4) (23) (23) (22.9) (23) (21.2) (21.2) (21.4) (21.2) (19.6) (19.8) (19.8) 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 (3.3) (3.3) (3.3) (5.6) (2.1) (2.5) (3.5) (3.5) (3.4) (3.5) (3.5)
Other Financing Activities (13.1) (1.2) 495.8 4.6 (4.1) (22.4) 3.9 2 (4.9) 1.3 (0.4) 0.4 (6.2) 1.9 (0.5) 1.5 (3.8) 0.5 4.5 7.5 (0.9) 0.6 (0.3) 0.3 (2.8) (15.2) 3.6 5.7 7.5 (8.6) 6 (0.7) (4.1) 3.4 4.8 10.2 (6.1) 0.3 15.6 (15.3) (6.8) (2) (172) (474.9) (30.1) (192.6) (37.2) (30.4) (51.7) (70) (738.9) (124.4) (219.9) (375.3) (261.6) (25.5) 170.6 89 8.8 275.7 237.6 (839) (224.9) 298.9 279.2 86.3 125.1 347.2 235.6 137.8 (150.7) (56) 178 (129.5) (143.4) (209.4) (237.8)
Financing Cash Flow (504.6) (149.6) 427.6 (55.3) (47.5) (54.8) (26.7) (28.6) (35.4) (29) (29.4) (28.6) (35.1) (26.9) (37.6) (29.3) (46.8) (46.1) (44.5) (90.9) (71.7) (143.4) 51.7 (93.7) (8.5) (314.2) (5.7) (168.8) (610.6) (47.5) (47.5) (68.4) (7.6) (19.6) (25.6) (34.4) (32.1) (35.2) (41.7) (145) (75) 75.1 (113.7) (575.4) (29.8) (189.6) (37.2) (30.4) (51.7) (70) (738.9) (198.7) (276.8) (326.3) (248.4) (23.4) 176.9 50.9 4.7 265.8 221.1 (833.1) (230.8) 137.1 21.8 172 127.1 351.8 247.8 (23.9) 2.2 (91.7) 203.7 (378.8) (322.6) 98.9 (82.6)
Cash Position
Net Change in Cash (879.2) 207 671.6 (71) (120.4) 8.4 89.5 73 (51.5) 21.6 126.9 (13.9) (123.5) 140.2 18.9 (126.1) 41.1 59.7 64.8 (5.7) (8.5) (110.9) 48.9 38.7 (71.8) 58.1 (22.2) 11.3 (852.2) 902.8 (20.3) 2.8 (162.5) 149.2 (90.6) 60.8 (25.6) (33.3) (45.7) (45.1) 67.9 18.9 76.6 (149.6) 26.7 (191) 54.4 (25.4) 83.8 (122.1) (562.5) 576.2 69.8 (43.9) (250.7) 118.2 (340.7) (26.3) (21.7) 24.5 (139.5) (557.1) 421.3 82.9 (63.7) 140 174.3 23.9 (28.1) 51.8 (363.7) (26.3) 359.1 14.3 36 (10.9) (134.4)
Cash at Beginning 1,122.7 915.7 244.1 315.1 435.5 427.1 337.6 264.6 316.1 294.5 167.6 181.5 305 164.8 145.9 272 230.9 171.2 106.4 112.1 120.6 231.5 182.6 143.9 215.7 157.6 179.8 168.5 1,020.7 117.9 138.2 135.4 376.4 227.2 317.8 257 282.6 315.9 361.6 406.7 338.8 413.5 336.9 486.5 573 380.5 326.1 351.5 267.7 389.8 952.3 376.1 306.3 350.2 600.9 482.7 823.4 305.5 327.2 302.7 442.2 999.3 578 495.1 558.8 410.3 236 212.1 240.2 163.3 527 553.3 194.2 164.2 128.2 139.1 273.5
Cash at End 243.5 1,122.7 915.7 244.1 315.1 435.5 427.1 337.6 264.6 316.1 294.5 167.6 181.5 305 164.8 145.9 272 230.9 171.2 106.4 112.1 120.6 231.5 182.6 143.9 215.7 157.6 179.8 168.5 1,020.7 117.9 138.2 135.4 376.4 227.2 317.8 257 282.6 315.9 361.6 406.7 432.4 413.5 336.9 582.5 189.5 380.5 326.1 351.5 267.7 389.8 952.3 376.1 306.3 350.2 600.9 482.7 279.2 305.5 327.2 302.7 442.2 999.3 578 495.1 550.3 410.3 236 212.1 215.1 163.3 527 553.3 178.5 164.2 128.2 139.1
Free Cash Flow 115.3 377 551.4 204.9 37.1 210.5 392.3 137.3 56.1 90.5 221.8 22.9 14.6 194.6 311.1 3.6 195.2 226 284.3 165.9 139.5 158.2 316.5 184.6 33.4 175.9 269.6 110.8 33.3 84.2 282.3 143.8 27.9 164.5 280.3 191.3 49.9 176 322.4 149.8 70.6 113.6 100.1 (47.9) 154.3 (195.6) (18.6) 104.5 (13.9) (251.7) (635.2) 519.8 79.2 66.9 166 150.7 159.2 (43.8) 314.8 (20.3) (105.4) (6.2) (39.3) 1.3 29.3 40.2 51.9 15.4 (77.5) (229.9) 69.2 (80.2) 51.4 6 111.5 (85.6) 109.5
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 1,701.4 1,671.9 1,658.2 1,650.9 1,595.7 1,578.3 1,561.3 1,535.3 1,541.9 1,528.8 1,516.6 1,504.4 1,443.7 1,478.7 1,366.3 1,292.9 1,330.7 1,374.7 1,274.9 1,307.8 1,282.1 1,297 1,243.7 1,224.3 1,056.2 1,257.9 1,214.7 1,198.6 1,219.5 1,102.8 1,166.6 1,133.4 1,091.5 1,332.2 1,085.9 1,266.1 1,260.9 1,252.6 1,241.2 1,136.3 1,227.6 1,205.4 1,227.9 1,333 1,298.7 1,285.1 1,265.6 1,273 1,243.9 1,229 1,201.8 1,182.6 1,180.3 1,184 1,157.7 1,127.2 1,121.8 1,135.9 1,108 853.9 833.8 833.3 804 768.3 746.6 730.3 708.5 696.4 698.9 663.4 642.1 685 695.3 702.2 671.8 665 698.1 654.5 671.2 653.8 664.6 656.3 628.8 656 681.1 768.3 665.4 778.9 796 769.6 822.8 814 798.4 812.7 795.6 848.4 775.5 815.8 783.7 768.9
Gross Profit 743.8 782.2 406.2 374.7 326.5 406.3 299.5 224.2 307.7 315.1 158.5 71.8 137.5 144 149.6 178.1 280.3 356.7 186.9 318.5 260.5 362.6 296.3 275 91.1 281.1 276.6 250.4 290.4 169.6 265.8 240.6 201.9 292.5 218 276.5 228 145.4 291.3 152.2 268.9 278.4 278.2 326.1 265 322.5 250 287.9 239.7 287.4 262 257.8 254.4 496.4 213.5 162 232.3 197.7 (1.9) (49.4) 47.9 44.8 176 106.9 160.6 169.6 73.6 62.3 127.5 136.8 28.2 160.6 177.8 183.4 165.5 171.1 185.4 172.8 150 180.8 191.2 176.8 (54.6) 175.6 156.1 240.7 120.9 174.1 185.6 166.4 183 114.1 22.5 158.8 159.9 175.6 166.9 227.8 668.3 197.8
Operating Income 237.1 257.8 227.1 198.8 160.1 211.5 129.7 51.3 145.3 150.2 (0.9) (90.7) (17.5) (14.7) 0.5 28.2 130 204.8 42.5 159.9 114.1 207 148.6 143.1 (53.9) 133.4 130.3 109.8 148.6 1.1 122.7 99.6 59.1 122.6 82.7 111 59 (32.8) 124.1 (7.1) 108.1 99.4 110.4 152.6 77 122.9 75.3 107.7 72.1 88.2 86.1 65.9 88.9 (106.4) 53.2 11.1 70.8 63.2 (19.3) (60.2) 37.5 75.6 73.1 3.1 59.3 73.5 67.5 96.6 33.3 50.3 (49) 76.7 86.1 89.2 77.5 86.7 91.9 72.4 43.3 78.4 85.3 83.4 (140.8) 75.8 52.9 87 21.9 37.9 45.9 8.4 24.8 17.9 (113.1) (135.5) 681.3 36.8 37.3 707.5 668.3 651.2
Net Income 186.8 198.5 178.7 157.1 128.2 167.9 102.1 40.5 115.5 107.9 8.6 (69.2) (12) (11.6) 0.5 22.7 104.9 163.5 34 128.5 92.7 164.6 118.9 115.2 (40) 109.8 118.9 74 122.4 123.6 100.4 99.3 67.7 51.5 11.1 78.4 45.2 (13.5) 88.4 2 78.2 77.6 78.3 120.7 54.9 89.9 54.9 82.6 54.6 70.1 61.3 53.4 66.2 (55) 40.4 20.8 49.7 49.3 (10) (32.2) 29.3 58.4 52.3 2.3 41.8 57.3 49.7 64.4 25.8 34.1 (61.8) (10.2) 58.5 75.8 53.9 59.8 63.6 45.5 33.4 50.9 40.5 118.7 (562.4) 72 46.5 63.1 17.7 32.4 12.1 14 24.4 14.9 (55.5) (70.7) 13.2 23.2 59.6 62.5 47.6 30.2
EPS (Diluted) 5.15 5.47 4.91 4.30 3.50 4.59 2.80 1.12 3.18 2.98 0.24 -1.94 -0.34 -0.33 0.01 0.63 2.90 4.53 0.94 3.52 2.51 4.43 3.13 3.01 -1.04 2.76 2.96 1.79 2.97 2.88 2.33 2.31 1.57 1.20 0.26 1.83 1.05 2.06 0.05 1.80 1.76 1.74 2.68 1.22 2.00 1.22 1.84 1.22 1.57 1.37 1.19 1.46 -1.24 0.89 0.46 1.09 -0.22 -0.71 0.64 1.15 0.05 0.94 0.97 1.25 0.50 -1.21 -0.20 1.12 1.03 1.14 1.22 0.65 0.99 0.75 -10.51 1.34 0.86 0.33 0.60 0.23 0.46 -1.05 0.25 0.44 1.16 0.88 0.56
Balance Sheet
Cash & Equivalents 243.5 1,122.7 915.7 244.1 315.1 435.5 427.1 337.6 264.6 316.1 294.5 167.6 181.5 305 164.8 145.9 272 230.9 171.2 106.4 112.1 120.6 231.5 182.6 143.9 215.7 157.6 179.8 168.5 1,020.7 117.9 244.9 258 376.4 227.2 317.8 257 282.6 315.9 361.6 406.7 260.9 209.2 316.5 281 345.8 229.7 216.2 189.5 380.5 351.5 267.7 389.8 952.3 600.9 482.7 823.4 279.2 305.5 0 302.7 442.2 0 0 0 550.3 0 0 0 215.1 0 0 0 178.5 0 0 0 0
Total Assets 16,527.7 16,945.9 16,774.2 15,732.1 15,470.3 15,274.5 15,367 14,872.2 14,594.1 14,612.6 14,315 14,186.7 14,091.7 13,995.1 13,745.9 13,600.9 13,847.2 14,254.3 14,105.3 13,728.1 13,448 13,443.7 13,393.8 12,838.6 12,277.4 12,490.5 12,627.2 12,159.9 11,983.4 12,399.7 15,624.3 15,403.6 15,334.2 15,469.6 15,389.3 14,792.7 14,490.8 14,220.4 14,363.7 14,163.6 14,027.7 8,373.4 8,068.5 8,042.7 7,747.7 7,698.1 9,845.2 23,664.2 24,380.4 25,510.1 25,173.2 24,372.8 26,627 27,528.6 28,913.8 31,437.5 30,556.4 31,588 32,634.8 32,088.6 31,854.1 30,769.6 29,080 29,826.4 28,461.2 27,653.1 25,244.6 25,816.4 24,511.8 22,549 21,967.2 20,963.5 19,625.6 18,970.3 18,728.9 18,506.1 18,162.7 17,757.7
Total Debt 843.8 1,218.3 1,279.8 784.6 784.3 784.1 783.9 783.7 783.4 783.2 783 782.8 782.6 782.4 782.2 782 781.8 781.6 781.4 781.2 781 780.8 780.4 652.8 707.5 653.4 667.8 653.1 653 777.9 777.6 787.1 787 786.9 786.8 786.7 786.6 786.4 797.9 797.8 803.4 632.4 632.3 433.9 309.9 530.5 514 508.8 508.8 499.5 199.5 199.5 199.5 199.5 270.5 268.8 264.1 256.1 253.4 250.9 247.6 244.5 243.3 249.7 284.2 420.8 258 246.1 242.2 235.1 391.4 236.6 269.8 240.6 528.3 703.9 392.1 233.5
Stockholders' Equity 3,570.4 3,571.5 3,426.3 3,216.3 3,044.4 2,841.8 2,877.7 2,552.2 2,522.7 2,465.6 2,116.3 2,237.9 2,389 2,333.7 2,295.9 2,571.8 2,832.8 3,144.9 3,102.3 3,154 3,046.8 3,202.2 3,155 3,071.7 2,736.6 2,916.2 3,086.8 2,941.1 2,927 2,954.7 2,982.4 2,939.8 2,913.1 2,997.7 2,972 2,972.5 2,913.5 2,857.5 3,045.7 3,009.7 2,957 2,351.6 2,302.2 2,358.6 2,221.1 1,967.6 2,192.6 2,207.2 2,289.3 2,220.2 2,225.6 2,115.9 2,072.2 2,105.4 2,529.8 2,502.7 2,502.5 2,409.1 2,357.3 2,288.6 2,267.7 2,240.2 2,199.7 2,248.7 2,387.5 2,458.6 2,480.3 2,539.4 2,468.8 2,381.3 2,263.4 1,782.5 1,672 1,724.7 1,633 1,563.5 1,555.9 1,574.2
Cash Flow
Operating Cash Flow 118.8 378.2 554.4 206.6 38.9 213.5 394.7 139.5 58.7 92.7 224.7 26.2 18.1 198.5 315.1 8.6 200.1 228.3 286.4 167.2 141.8 161 320.8 189.2 36.6 179 273.3 113.4 37.2 84.9 286.9 148.1 31.4 172.4 282.4 195.6 54.2 179.5 326.1 151.9 82 115.3 102.5 (47.1) 155.4 (194.5) (16.4) 105.4 (13.5) (249.8) (629) 523.2 80.8 68.8 175.4 167.6 184.8 (38.5) 316.9 (16.4) (103) (0.1) (31.2) 8.5 38 43.8 80.7 17 (75.8) (220) 71.8 (79.7) 54.7 10.8 114.6 (84.7) 115.3
Capital Expenditure (3.5) (1.2) (3) (1.7) (1.8) (3) (2.4) (2.2) (2.6) (2.2) (2.9) (3.3) (3.5) (3.9) (4) (5) (4.9) (2.3) (2.1) (1.3) (2.3) (2.8) (4.3) (4.6) (3.2) (3.1) (3.7) (2.6) (3.9) (0.7) (4.6) (4.3) (3.5) (7.9) (2.1) (4.3) (4.3) (3.5) (3.7) (2.1) (6.4) (1.7) 0 (0.8) (1.1) (1.1) (2.2) (0.9) (0.4) (1.9) (6.2) (3.4) (1.6) (1.9) (9.4) (8.1) (11.3) (5.3) (2.1) (3.9) (2.4) (6.1) (8.1) (7.2) (8.7) (3.6) (1) (1.6) (1.7) (9.9) (2.6) (0.5) (3.3) (4.8) (3.1) (0.9) (5.8)
Free Cash Flow 115.3 377 551.4 204.9 37.1 210.5 392.3 137.3 56.1 90.5 221.8 22.9 14.6 194.6 311.1 3.6 195.2 226 284.3 165.9 139.5 158.2 316.5 184.6 33.4 175.9 269.6 110.8 33.3 84.2 282.3 143.8 27.9 164.5 280.3 191.3 49.9 176 322.4 149.8 70.6 113.6 100.1 (47.9) 154.3 (195.6) (18.6) 104.5 (13.9) (251.7) (635.2) 519.8 79.2 66.9 166 150.7 159.2 (43.8) 314.8 (20.3) (105.4) (6.2) (39.3) 1.3 29.3 40.2 51.9 15.4 (77.5) (229.9) 69.2 (80.2) 51.4 6 111.5 (85.6) 109.5