Westlake Corporation logo WLK - Westlake Corporation

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 8
HOLD 19
SELL 5
STRONG
SELL 0
| PRICE TARGET: $111.00 DETAILS
HIGH: $145.00
LOW: $85.00
MEDIAN: $115.00
CONSENSUS: $111.00
UPSIDE: 42.99%
Annual Quarterly
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 Q2
Revenue
Revenue 2,652 2,533 2,838 2,953 2,846 2,843 3,117 3,207 2,975 2,826 3,115 3,251 3,356 3,299 3,956 4,483 4,056 3,507 3,055 2,859 2,357 1,965 1,898 1,709 1,932 1,883 2,066 2,144 2,025 1,995 2,255 2,235 2,150 2,010.3 2,109 1,979 1,943 1,735.2 1,279.0 1,086.1 975.2 986.8 1,188.0 1,185.0 1,103.5 1,135.9 1,253.2 998.6 1,027.7 951.6 1,004.2 939.0 864.6 801.0 821.2 914.0 1,034.9 859.2 968.4 925.0 867.3 795.4 779.7 818.4 778.3 630.0 632.6 574.9 488.3 597.1 1,073.7 1,106.4 915.1 850.6 840.2 782.7 718.8 523.9 672.4 669.3 618.8 636.4 605.4 580.7 618.6 563.1 572.0 449.4 400.9 349.3
Cost of Revenue 2,570 2,970 2,602 2,695 2,614 2,515 2,618 2,543 2,509 2,627 2,529 2,609 2,564 2,732 3,180 3,038 2,771 2,411 2,037 1,987 1,848 1,642 1,650 1,540 1,649 1,633 1,695 1,804 1,726 1,641 1,716 1,683 1,608 1,512.4 1,613 1,576 1,577 1,453.7 1,076.9 844.7 719.6 750.6 876.8 831.8 819.0 773.0 891.7 692.6 740.7 656.0 699.7 665.6 636.8 610.8 649.0 712.1 862.2 781.9 821.3 758.0 699.7 631.3 644.8 692.4 720.7 583.2 560.0 519.2 468.2 732.7 1,001.9 1,010.0 878.4 807.5 754.1 698.2 660.9 492.9 563.2 544.1 487.7 501.3 516.1 481.2 498.8 464.7 487.5 367.8 362.1 0
Gross Profit 82 (437) 236 258 232 328 499 664 466 199 586 642 792 567 776 1,445 1,285 1,096 1,018 872 509 323 248 169 283 250 371 340 299 354 539 552 542 498.0 496 403 366 281.5 202.1 241.4 255.6 236.2 311.3 353.2 284.5 362.8 361.5 306.0 287.0 295.7 304.5 273.5 227.8 190.2 172.2 201.9 172.6 77.3 147.1 167.1 167.6 164.1 134.9 126.0 57.7 46.9 72.5 55.7 20.1 (135.6) 71.8 96.5 36.7 43.0 86.1 84.4 57.9 31.0 109.2 125.2 131.1 135.1 89.3 99.5 119.8 98.3 84.5 81.5 38.8 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
SG&A Expenses 236 234 228 221 227 226 215 224 209 224 206 213 222 174 205 220 200 145 122 125 136 103 108 104 120 115 110 117 116 108 98 115 108 19.1 98 101 99 115.7 72.7 53.7 53.3 55.0 57.2 57.8 55.3 60.5 54.8 39.2 39.0 38.1 37.9 38.3 33.8 34.0 29.7 30.9 27.0 26.8 29.7 28.7 26.9 27.1 27.5 26.5 23.3 23.9 23.5 19.5 21.0 30.2 23.0 22.9 22.8 23.0 26.3 22.2 25.2 22.5 22.2 18.4 20.2 22.6 19.2 16.7 18.1 19.0 15.1 14.3 11.9 0
Other Expenses 0 0 774 146 37 36 104 34 34 527 31 33 34 66 55 50 53 78 35 27 27 42 61 29 27 33 35 29 49 39 45 33 33 478.9 34 38 33 13.1 82.8 7.7 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 (2.0) 0.5 1.3 0 349.3
Operating Expenses 236 234 1,002 367 264 262 319 258 243 751 237 246 256 240 260 270 253 223 157 152 163 145 169 133 147 148 145 146 165 147 143 148 141 498.0 132 139 132 128.8 155.6 61.4 53.3 55.0 57.2 57.8 55.3 60.5 54.8 39.2 39.0 38.1 37.9 38.3 33.8 34.0 29.7 30.9 27.0 26.8 29.7 28.7 26.9 27.1 27.5 26.5 23.3 23.9 23.5 19.5 21.0 30.2 23.0 22.9 22.8 23.0 26.3 22.2 25.2 22.5 22.2 18.4 20.2 22.6 19.2 16.7 18.1 16.9 15.6 15.6 11.9 349.3
Operating Income
Operating Income (154) (671) (766) (109) (32) 66 180 406 223 (552) 349 396 536 327 516 1,175 1,032 873 861 720 346 178 79 36 136 102 226 194 134 207 396 404 401 370.9 364 264 234 152.7 46.6 179.9 202.3 181.1 254.0 295.4 229.3 302.4 306.8 266.8 248.1 257.6 266.6 235.2 194.1 156.2 142.5 171.0 145.6 50.5 117.3 138.4 140.6 137.1 107.3 99.5 34.4 23.0 49.0 36.2 (0.9) (165.8) 48.8 73.6 13.9 20.0 59.8 62.3 32.7 8.5 87.0 106.9 110.9 112.5 70.1 82.8 101.7 81.4 68.9 65.9 26.9 349.3
Interest Expense (56) 41 41 40 39 39 39 41 40 41 40 42 42 43 44 44 46 46 61 36 33 34 37 40 31 35 31 28 30 30 28 31 37 40 40 39 39.8 42.5 24.4 5.9 6.7 7.9 8.2 9.0 9.6 9.2 9.5 9.5 9.2 3.2 3.3 5.3 6.3 7.4 11.9 11.6 12.2 12.5 12.7 12.8 12.9 11.3 11.0 8.8 8.8 8.8 8.8 8.8 8.6 0 8.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 10.4 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 4 8 2 3 0 0 0 10 0 0 0 0 1.5 0.5 0 0 2.7 1.6 0.9 0 0 0.3 1.1 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 0
Profitability
EBITDA 38 (266) (431) 210 288 416 505 744 546 (235) 682 690 825 619 804 1,456 1,300 1,131 1,077 932 553 386 287 236 337 296 425 372 314 374 580 568 579 517.7 522 411 391 307.5 182.1 255.4 270.6 251.2 317.9 377.8 297.0 355.3 358.0 319.9 296.5 302.7 307.0 275.3 232.9 191.0 175.6 223.8 182.4 84.9 151.6 172.8 174.4 172.4 140.2 131.4 67.6 56.1 81.9 68.4 30.6 (129.9) 77.8 101.4 39.9 46.3 86.6 88.8 57.2 33.0 108.3 127.5 131.6 133.4 89.5 103.6 123.2 100.1 90.6 86.7 47.4 349.3
EBIT (246) (622) (734) (85) 5 135 224 465 273 (517) 405 419 558 348 540 1,192 1,043 891 874 730 358 190 91 45 147 108 247 196 143 206 419 412 423 365 368 266 240.4 157.0 87.8 188.1 204.9 185.6 256.7 317.4 238.4 302.4 304.1 271.4 250.6 261.2 266.6 235.1 197.6 156.1 137.1 188.0 147.0 51.8 118.8 140.0 141.8 140.0 108.0 99.4 35.5 24.2 50.5 37.5 1.6 (160.3) 50.1 73.6 13.9 20.0 59.7 62.3 32.7 8.5 87.0 106.9 110.9 112.5 70.1 82.8 101.7 81.4 68.9 65.9 26.5 349.3
Income Before Tax (190) (663) (775) (125) (34) 96 185 424 233 (558) 365 377 516 305 496 1,148 997 845 813 694 325 156 54 5 116 73 216 168 113 176 391 381 386 325.0 328 227 201 114.5 63.5 182.2 198.2 177.7 248.5 308.5 228.8 286.1 294.6 261.9 241.4 258.1 263.0 229.8 191.3 148.7 125.2 176.5 134.8 39.2 106.1 127.2 128.9 128.7 97.0 90.6 26.7 15.4 41.7 28.7 (7.0) (174.2) 42.0 66.5 7.7 16.0 55.4 57.5 30.1 8.4 86.8 106.0 81.3 109.0 65.1 75.6 95.6 75.4 45.9 53.3 16.1 0
Income Tax Expense (33) (168) (3) 6 1 77 65 101 48 (71) 70 70 109 57 84 275 233 184 193 158 72 33 (15) (19) (41) (12) 50 39 31 45 73 93 89 (490.7) 109 68 56 9.2 (6.6) 66.6 69.3 61.6 60.0 98.4 78.4 98.7 124.4 92.4 83.4 87.1 92.7 84.0 67.9 53.4 38.2 61.0 47.0 12.8 38.1 46.1 45.4 44.6 34.2 33.6 9.1 2.9 11.9 11.8 (0.9) (64.6) 14.6 19.2 2.4 (2.8) 17.0 19.6 10.4 (6.0) 25.2 38.8 30.0 35.4 21.6 27.1 34.5 28.1 17.6 18.9 5.4 0
Net Income (169) (544) (782) (142) (40) 7 108 313 174 (497) 285 297 394 232 401 858 756 644 607 522 242 113 57 15 145 72 158 119 72 123 308 278 287 802.2 211 153 138 98.9 65.7 111.1 123.1 111.0 183.6 205.1 146.3 183.3 167.8 169.4 158.0 171.0 170.3 145.8 123.3 95.3 87.0 115.5 87.8 26.4 67.9 81.0 83.5 84.1 62.7 56.9 17.6 12.5 29.8 16.9 (6.1) (109.6) 27.4 47.3 5.4 18.8 38.3 37.9 19.7 14.4 61.7 67.2 51.3 73.6 43.5 48.5 61.1 47.3 28.3 34.4 10.7 6.7
Per Share Data
EPS (Basic) -1.32 -4.22 -6.10 -1.10 -0.31 0.05 0.83 2.42 1.35 -3.88 2.21 2.32 3.07 1.82 3.12 6.65 5.87 5.01 4.71 4.06 1.88 0.87 0.45 0.11 1.13 0.56 1.22 0.92 0.56 0.95 2.36 2.13 2.21 6.18 1.62 1.18 1.07 0.76 0.51 0.85 0.94 0.85 1.39 1.55 1.10 1.38 1.26 1.27 1.18 1.28 1.28 1.09 0.92 0.72 0.65 0.87 0.66 0.20 0.51 0.61 0.63 0.64 0.48 0.43 0.14 0.09 0.23 0.13 -0.05 -0.83 0.21 0.36 0.04 0.14 0.30 0.29 0.15 0.11 0.48 0.52 0.40 0.57 0.34 0.38 0.47 0.36 0.25 0.23 0.11 0.07
EPS (Diluted) -1.31 -4.22 -6.10 -1.10 -0.31 0.05 0.83 2.40 1.34 -3.88 2.20 2.30 3.05 1.81 3.10 6.60 5.83 4.98 4.69 4.04 1.87 0.87 0.45 0.11 1.13 0.56 1.22 0.92 0.55 0.95 2.35 2.12 2.20 6.15 1.61 1.17 1.06 0.76 0.51 0.85 0.94 0.84 1.39 1.54 1.10 1.37 1.25 1.26 1.18 1.27 1.27 1.09 0.92 0.71 0.65 0.86 0.66 0.20 0.51 0.61 0.63 0.64 0.48 0.43 0.14 0.09 0.23 0.13 -0.05 -0.83 0.21 0.36 0.04 0.14 0.30 0.29 0.15 0.11 0.48 0.52 0.39 0.56 0.34 0.37 0.47 0.36 0.25 0.23 0.11 0.07
Shares Outstanding 128.0 128.9 128.3 128.3 128.3 128.5 128.6 128.6 128.4 128.2 127.9 127.6 127.5 127.5 127.9 128.3 128.1 127.9 128.1 128.1 128.0 129.9 127.7 127.7 128.2 128.6 128.2 128.5 128.5 129.5 129.4 129.6 129.5 129.8 129.1 129.1 129.0 130.2 128.8 129.6 130.2 130.6 131.7 132.5 132.7 132.8 133.3 133.2 133.1 133.6 133.3 133.3 133.3 133.3 132.6 132.6 132.2 133.1 132.0 132.0 131.5 131.5 131.0 130.9 130.8 132.1 131.9 131.9 131.6 131.3 131.3 130.5 130.5 130.5 130.5 130.4 130.4 130.4 130.3 130.2 130.2 130.2 130.1 130.0 129.9 129.9 113.8 99.0 99 99.7
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 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
Current Assets
Cash & Cash Equivalents 2,271 2,724 1,927 2,085 2,297 2,919 2,915 3,042 3,108 3,304 3,057 2,677 2,414 2,228 1,778 1,317 1,055 1,908 3,571 1,844 1,393 1,313 1,217 1,109 1,537 728 1,437 409 445 753 788 482 851 1,531 678.2 395.8 372.6 459.5 380.5 771.0 615.0 662.5 961.9 1,026.6 945.6 880.6 813.5 876.1 532.6 461.3 591.6 625.5 777.9 790.1 1,198.5 1,110.5 895.1 825.9 758.9 712.3 654.5 630.3 428.3 288.8 185.3 245.6 252.9 204.0 179.3 90.2 22.5 22.5 7.8 24.9 139.3 42.6 13.3 52.6 202.8 275.6 236.4 237.9 123.3 109.7 46.6 43.4 51.0 57.4 37 37.4
Short-Term Investments 205 204 198 192 183 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 352.0 525.0 520.1 285.7 0 0 0 0 0 243.7 239.4 125.6 30.0 94.9 124.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 100.3 0 0 0 0 0 0 0 0 0 0.0 0
Net Receivables 1,690 1,504 1,763 1,832 1,656 1,483 1,754 1,812 1,691 1,601 1,939 1,855 1,835 1,801 2,181 2,535 2,352 1,868 1,642 1,549 1,327 1,214 1,293 1,160 1,265 1,036 1,094 1,213 1,121 1,037 1,241 1,261 1,135 1,001 1,143.0 1,095.8 1,004.0 938.7 1,070.5 582.9 549.0 508.5 521.0 600.7 527.1 560.7 593.0 454.3 421.9 428.5 433.0 475.6 407.6 400.2 393.6 418 444.6 407.4 462.5 430.3 409.4 362.9 362.4 427.9 405.3 339.8 343.4 321.7 281.0 347.3 562.8 641.5 464.4 507.5 436.3 399.8 423.6 308.9 335.1 323.0 277.3 302.8 356.0 256.1 286.1 234.2 248.5 198.4 177 178.6
Inventory 1,677 1,653 1,727 1,731 1,781 1,697 1,747 1,684 1,661 1,622 1,672 1,671 1,842 1,866 2,024 2,021 1,884 1,407 1,124 965 955 918 829 845 934 936 906 925 1,021 1,014 939 905 944 900 834.8 831.7 821.7 801.1 744.5 448.5 478.7 434.1 430.0 486.3 480.4 525.8 500.6 437.5 439.0 471.9 451.6 427.1 408.1 399.3 371.5 407.1 422.4 490.8 466.2 508.2 446.3 450.0 355.8 370.0 398.4 369.4 312.0 286.8 283.9 328.0 491.2 514.5 532.1 527.9 466.4 464.5 417.7 456.3 312.9 343.1 339.6 339.9 286.6 308.2 318.2 319.8 249.4 232.9 198 180.8
Other Current Assets 109 131 136 106 104 115 133 71 66 82 89 93 55 78 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8.6 8.6 9.3 161 169.3 0 0 35.4 31.5 29.6 31.0 32.4 26.1 34.2 34.2 34.2 22.3 22.1 22.3 22.3 19.7 19.7 19.6 19.6 17.2 17.3 17.3 17.3 18.0 26.6 26.5 26.5 27.2 26.6 26.6 26.6 17.6 17.6 17.7 17.7 17.1 15.7 15.9 15.9 13.0 13.0 13.0 13.0 16.7 43.0 54.0 65.8 8.1 8.1 15.0 16.1
Total Current Assets 5,952 6,216 5,751 5,946 6,021 6,214 6,549 6,609 6,526 6,609 6,757 6,296 6,146 5,973 6,101 6,013 5,405 5,263 6,435 4,445 3,734 3,477 3,381 3,165 3,768 2,742 3,482 2,595 2,627 2,842 3,004 2,694 2,959 3,463 2,699.5 2,377.6 2,251.3 2,408.3 2,419.7 2,190.0 2,191.7 2,175.2 2,248.4 2,166.2 2,002.2 2,011.3 1,951.9 1,822.5 1,687.3 1,649.1 1,642.9 1,601.1 1,725.3 1,751.4 1,997.8 1,970.8 1,795.9 1,756.2 1,716.3 1,688.5 1,541.4 1,476.0 1,181.0 1,131.1 1,027.6 988.4 945.4 850.3 781.1 799.0 1,107.6 1,217.5 1,033.0 1,092.2 1,066.3 937.3 880.9 849.8 973.6 966.1 875.3 902.9 789.7 725.6 712.1 671.9 565.4 508.7 427 412.8
Non-Current Assets
Property, Plant & Equipment 9,361 9,403 8,825 9,651 9,501 9,434 9,421 9,320 9,229 9,216 9,221 9,194 9,161 9,092 8,884 8,910 8,907 8,168 7,471 7,371 7,388 7,381 7,313 7,349 7,315 7,355 7,259 7,213 7,120 6,595 6,519 6,468 6,447 6,412 6,343.6 6,316.7 6,392.7 6,420 6,450.9 3,230.5 3,114.8 3,004.1 2,916.6 2,855.5 2,751.5 2,757.6 2,710.5 2,217.0 2,150.6 2,088.0 1,952.9 1,785.6 1,629.3 1,510.0 1,394.2 1,309.8 1,263.6 1,232.1 1,195.5 1,179.7 1,173.2 1,170.3 1,165.4 1,172.6 1,183.3 1,194.3 1,186.0 1,201.0 1,210.7 1,197.5 1,181.6 1,159.8 1,143.2 1,126.2 1,099.6 1,086.9 1,076.4 1,076.9 909.5 900.8 878.2 863.2 855.8 861.8 853.9 855.1 872.3 860.0 871 905.1
Goodwill 1,345 1,314 1,314 2,044 2,032 2,031 2,039 2,035 2,037 2,041 2,161 2,167 2,167 2,161 2,143 2,139 2,140 2,024 1,253 1,085 1,082 1,083 1,075 1,070 1,065 1,074 1,069 1,079 1,047 1,002 1,008 1,006 1,010 1,012 1,011.3 999.6 950.7 946.6 925.7 62.0 62.0 62.0 62.0 62.0 62.0 62.0 62.0 62.0 62.0 62.0 0 0 0 30.0 0 0 0 30.0 0 0 0 30.0 0 0 0 30.0 0 0 0 30.0 0 0 0 30.0 0 0 0 36.1 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 1,215 1,182 443 1,239 1,259 1,282 1,312 1,338 1,370 1,403 1,471 1,507 1,539 1,565 1,575 1,640 1,692 1,580 668 553 579 612 632 653 677 710 732 763 751 659 691 718 754 777 802.0 824.1 769.3 787.5 790.2 146.4 151.5 151.4 156.6 152.0 145.2 156.4 160.7 93.4 95.1 97.0 159.4 161.3 48.1 18.3 0 0 0 19.1 0 0 0 22.1 0 0 0 26.5 0 0 0 31.2 0 0 0 34.7 0 0 0 39.0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 1,066 1,078 1,063 1,074 1,075 1,081 1,099 1,085 1,104 1,115 1,117 1,120 1,131 1,142 1,147 1,143 1,105 1,007 1,010 1,009 1,029 1,059 1,046 1,052 1,065 1,112 (3,031) (1,206) (1,199) 253 (1,184) (1,153) (1,125) 0 (1,660.9) (1,648.5) (3,369.1) 130.5 (3,323.0) 8.9 9.4 108.6 9.6 37.7 64.7 133.9 70.8 68.9 67.6 66.9 65.5 48.5 43.9 43.7 44.2 44.8 46.0 76.9 47.3 47.1 46.8 46.3 33.9 34.1 34.3 33.9 33.6 32.9 31.9 30.1 0 0 0 29.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 18 0
Other Non-Current Assets 768 768 2,418 852 823 708 689 696 694 651 669 697 662 617 575 527 492 417 271 256 238 223 247 266 273 268 565 566 559 251 499 460 434 412 387.6 367.6 360.8 185.0 310.5 282.7 194.9 116.1 131.1 137.5 154.2 92.8 170.3 105.6 109.4 97.9 102.8 111.8 112.6 58.7 108.0 116.6 224.6 152.7 248.1 232.5 245.5 209.4 287.7 206.3 221.6 173.2 246.5 250.7 264.5 199.3 307.6 308.7 350.1 256.8 149.0 148.2 153.2 80.3 88.9 75.4 63.9 61.1 58.2 60.5 62.4 65.5 68.2 73.2 (83) 68.0
Total Non-Current Assets 13,755 13,745 14,063 14,860 14,690 14,536 14,560 14,474 14,434 14,426 14,639 14,685 14,660 14,577 14,324 14,359 14,336 13,196 10,673 10,274 10,316 10,358 10,313 10,390 10,395 10,519 9,625 9,621 9,477 8,760 8,717 8,652 8,645 8,613 8,544.6 8,508.1 8,473.5 8,481.9 8,477.3 3,730.5 3,532.7 3,400.1 3,276.0 3,244.8 3,177.6 3,202.7 3,174.3 2,546.9 2,484.7 2,411.8 2,280.6 2,107.2 1,833.9 1,660.8 1,546.4 1,471.2 1,534.2 1,510.7 1,490.9 1,459.3 1,465.5 1,478.2 1,487.0 1,413.0 1,439.3 1,458.0 1,466.0 1,484.5 1,507.1 1,488 1,489.2 1,468.5 1,493.4 1,477.2 1,248.6 1,235.0 1,229.5 1,232.3 998.5 976.2 942.1 924.3 914.1 922.4 916.2 920.5 940.5 933.2 948 973.1
Total Assets 19,707 19,961 19,814 20,806 20,711 20,750 21,109 21,083 20,960 21,035 21,396 20,981 20,806 20,550 20,425 20,372 19,741 18,459 17,108 14,719 14,050 13,835 13,694 13,555 14,163 13,261 13,107 12,216 12,104 11,602 11,721 11,346 11,604 12,076 11,244.1 10,885.7 10,724.8 10,890.3 10,897.0 5,920.6 5,724.4 5,575.3 5,524.4 5,411.0 5,179.8 5,214.0 5,126.3 4,369.4 4,172.0 4,060.9 3,923.4 3,708.3 3,559.2 3,412.2 3,544.2 3,441.9 3,330.0 3,266.8 3,207.2 3,147.8 3,006.9 2,954.1 2,667.9 2,544.1 2,467.0 2,446.4 2,411.4 2,334.8 2,288.2 2,287.0 2,596.8 2,686.0 2,526.3 2,569.3 2,314.8 2,172.4 2,110.5 2,082.1 1,972.1 1,942.4 1,817.5 1,827.2 1,703.8 1,648.0 1,628.3 1,592.5 1,505.9 1,441.9 1,375 1,385.9
Current Liabilities
Account Payables 765 737 2,147 886 913 806 883 872 871 849 791 785 811 886 971 1,109 1,007 849 687 1 569 529 446 427 408 435 475 494 526 504 626 582 596 600 560.8 582.8 541.9 496 502.4 305.9 256.4 229.2 237.6 263.8 247.5 261.1 263.4 219.6 212.0 249.6 258.1 247.0 232.1 217.1 199.4 208.3 197.4 227.0 196.4 223.7 185.3 204.8 148.9 182.3 195.4 179.1 162.1 145.6 132.9 112.8 275.9 342.9 260.1 315.0 266.8 260.3 220.5 238.9 145.0 186.4 150.7 199.8 136.2 143.6 168.1 146.9 121.7 95.0 94 93.4
Short-Term Debt 496 497 750 0 0 6 145 300 300 299 299 3 2 119 6 10 264 269 268 37 34 7 1 3 1 26 17 26 22 0 0 0 461 710 0 0.7 1.2 149 148.7 1.3 1.0 6.1 7.2 19.2 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 1.2 1.2 1.2 1.2 1.2 1.2 28.2 1.2 1.2
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8.1 8.1
Other Current Liabilities 0 1,096 (235) 0 97 0 (145) 0 0 0 0 (3) (2) 897 0 0 0 0 0 0 0 (7) (1) (3) (1) (26) (17) (26) (22) 0 0 0 0 0 0 (0.7) (1.2) 0 0 (1.3) (1.0) (6.1) (7.2) (19.2) 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 0 100.7 77.4
Total Current Liabilities 2,743 2,770 2,897 2,403 2,285 2,219 2,351 2,537 2,655 2,790 2,659 2,131 2,159 2,298 2,461 2,513 2,550 2,344 1,898 1,485 1,326 1,357 1,218 1,109 1,024 1,241 1,238 1,254 1,226 1,183 1,301 1,186 1,653 1,967 1,170.3 1,030.9 943.4 1,183.1 1,204.7 620.1 506.2 522.6 534.9 534.7 453.2 537.2 573.0 386.9 359.9 404.9 432.7 394.5 399.8 398.5 362.8 338.1 312.0 364.6 331.6 329.6 277.4 323.6 273.7 304.9 289.7 286.6 263.7 261.6 212.2 212.3 391.8 465.0 350.7 441.3 367.4 339.0 306.6 321.9 270.0 301.1 244.9 305.8 270.7 236.4 262.0 250.2 219.4 219.2 204 180.1
Non-Current Liabilities
Long-Term Debt 5,074 5,087 3,906 4,654 4,588 4,556 4,616 4,585 4,590 4,607 4,574 4,894 4,892 4,879 4,813 4,858 4,902 4,911 4,929 3,555 3,547 3,566 3,681 3,745 4,432 3,445 3,424 2,669 2,669 2,668 2,667 2,666 2,666 3,127 3,349.4 3,489.9 3,601.6 3,678.7 3,680.6 758.5 758.3 764.1 764.1 764.1 764.0 764.0 764.0 763.9 763.9 763.9 763.8 763.8 763.8 763.8 763.7 764.6 764.6 764.6 764.5 764.5 764.5 764.5 610.5 515.4 515.4 515.4 515.4 510.4 510.3 510.3 515.9 549.4 554.8 511.4 335.2 260.2 280.9 260.2 260.1 260.1 260.1 265.7 266.0 266.3 266.6 296.9 347.2 508.5 509 509.1
Deferred Tax Liabilities 1,388 1,343 1,578 1,524 1,546 1,553 1,514 1,515 1,544 1,560 1,680 1,692 1,716 1,735 1,803 1,843 1,815 1,681 1,445 1,396 1,385 1,368 1,403 1,354 1,386 1,255 1,230 1,206 1,199 1,159 1,184 1,153 1,125 1,111 1,660.9 1,648.5 1,649.1 1,650.6 1,607.1 665.0 609.8 575.6 534.8 532.3 534.7 536.1 513.8 458.8 447.2 438.0 410.2 386.8 356.0 326.3 335.4 337.2 341.0 330.8 335.3 331.9 323.1 315.5 315.1 316.2 310.5 309.6 309.3 269.8 289.4 280.5 291.2 297.2 289.2 288.0 296.7 296.2 285.6 281.8 230.8 232.0 225.7 221.1 209.6 235.1 234.6 235.2 175.4 159.0 135.2 0
Other Non-Current Liabilities 779 778 786 703 639 666 712 663 696 703 656 651 680 669 686 690 708 534 575 575 584 590 531 538 537 562 523 534 514 516 481 495 519 502 512.0 507.3 497.8 485.9 580.6 804.6 755.5 151.0 170.8 162.8 157.1 174.9 153.2 31.6 32.3 35.6 51.7 50.8 49.9 51.4 48.8 49.8 49.5 50.6 46.6 48.0 47.3 45.5 49.1 49.5 48.0 49.8 45.4 45.4 45.2 44.8 39.0 39.9 42.7 (245.9) 48.2 47.4 45.9 (237.2) 39.0 37.7 42.1 40.5 35.5 33.8 35.7 40.8 41.0 42.7 70.8 23.1
Total Non-Current Liabilities 7,913 7,896 6,979 7,612 7,505 7,488 7,572 7,452 7,452 7,481 7,452 7,773 7,819 7,787 7,776 7,885 7,939 7,587 7,341 5,895 5,899 5,900 5,988 6,009 6,701 5,617 5,507 4,703 4,693 4,343 4,332 4,314 4,310 4,740 5,522.4 5,645.7 5,748.6 5,815.1 5,868.3 1,563.0 1,513.8 1,490.7 1,469.7 1,459.2 1,455.8 1,474.9 1,430.9 1,254.4 1,243.5 1,237.4 1,225.7 1,201.4 1,169.6 1,141.4 1,147.9 1,151.5 1,155.1 1,145.9 1,146.5 1,144.3 1,135.0 1,125.5 974.6 881.1 873.9 874.8 870.1 825.6 845.0 835.6 846.1 886.5 886.7 841.4 680.0 603.8 612.4 586.6 529.8 529.8 527.8 527.2 511.1 535.2 536.9 572.8 563.6 710.2 715 662.3
Total Liabilities 10,656 10,666 9,876 10,015 9,790 9,707 9,923 9,989 10,107 10,271 10,111 9,904 9,978 10,085 10,237 10,398 10,489 9,931 9,239 7,380 7,225 7,257 7,206 7,118 7,725 6,858 6,745 5,957 5,919 5,526 5,633 5,500 5,963 6,707 6,692.6 6,676.7 6,692.0 6,998.2 7,072.9 2,183.1 2,020.0 2,013.3 2,004.6 1,993.8 1,909.0 2,012.1 2,003.9 1,641.3 1,603.4 1,642.3 1,658.4 1,595.8 1,569.4 1,539.9 1,510.7 1,489.6 1,467.0 1,510.5 1,478.1 1,474.0 1,412.4 1,449.1 1,248.4 1,186.0 1,163.6 1,161.4 1,133.8 1,087.2 1,057.1 1,047.9 1,237.9 1,351.5 1,237.4 1,282.7 1,047.4 942.8 919.0 908.6 799.8 830.9 772.7 833.1 781.8 771.6 798.8 823.1 782.9 929.4 919 842.4
Stockholders' Equity
Common Stock 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.5 0 0.0
Retained Earnings 8,464 8,701 9,313 10,163 10,373 10,481 10,541 10,500 10,252 10,143 10,705 10,484 10,232 9,885 9,700 9,345 8,525 7,808 7,202 6,633 6,145 5,938 5,863 5,840 5,860 5,757 5,724 5,600 5,513 5,477 5,400 5,125 4,874 4,613 3,837.6 3,654.0 3,525.8 3,412.3 3,338.0 3,296.9 3,209.4 3,110.0 3,022.7 2,863.1 2,679.9 2,555.5 2,394.2 2,248.5 2,095.9 1,954.7 1,798.7 1,643.5 1,510.3 1,399.5 1,567.4 1,492.9 1,382.3 1,299.4 1,277.9 1,214.9 1,138.1 1,058.7 978.9 920.3 867.2 853.4 844.7 818.7 805.3 814.9 927.9 904.0 860.0 857.9 842.3 807.3 772.0 754.9 743.1 684.1 618.7 569.2 497.3 455.6 408.5 348.7 302.7 274.4 240 65.9
Accumulated Other Comprehensive Income (99) (80) (77) (64) (130) (144) (117) (149) (132) (98) (131) (79) (67) (89) (231) (116) (45) (36) (75) (56) (70) (64) (69) (87) (106) (74) (66) (50) (64) (62) (24) (33) 3 7 (13.9) (53.8) (103.6) (121.3) (108.1) (82.1) (90.7) (129.3) (121.9) (119.9) (137.7) (79.4) (36.4) (0.1) (1.8) (2.6) (10.9) (11.7) (11.0) (10.8) (8.2) (9.9) 8.1 (9.1) (13.6) (6.1) (6.2) (7.0) 4.5 (9.2) (8.8) (11.5) (8.5) (10.1) (11.8) (12.1) (4.2) (3.5) (3.9) (3.1) (5.9) (7.7) (9.6) (9.9) 1.9 1.6 0.8 (0.2) (0.1) (0.4) (0.1) (0.1) (0.7) (1.5) (2) 0
Total Stockholders' Equity 8,547 8,792 9,426 10,278 10,410 10,527 10,662 10,574 10,331 10,241 10,754 10,544 10,291 9,931 9,621 9,404 8,681 7,955 7,298 6,771 6,261 6,043 5,949 5,901 5,893 5,860 5,824 5,719 5,632 5,590 5,602 5,362 5,141 4,874 4,068.8 3,840.8 3,659.2 3,523.6 3,457.7 3,439.2 3,406.5 3,265.9 3,225.0 3,123.4 2,979.9 2,911.5 2,833.9 2,728.1 2,568.6 2,418.6 2,265.1 2,112.5 1,989.8 1,872.3 2,033.4 1,952.3 1,863.0 1,756.3 1,729.1 1,673.8 1,594.5 1,505.1 1,419.6 1,358.1 1,303.4 1,285.0 1,277.6 1,247.7 1,231.1 1,239.1 1,358.9 1,334.4 1,288.9 1,286.7 1,267.5 1,229.6 1,191.5 1,173.5 1,172.3 1,111.5 1,044.8 994.1 922.0 876.4 829.5 769.4 722.9 490.4 456 543.5
Total Liabilities & Equity 19,707 19,961 19,814 20,806 20,711 20,750 21,109 21,083 20,960 21,035 21,396 20,981 20,806 20,550 20,425 20,372 19,741 18,459 17,108 14,719 14,050 13,835 13,694 13,555 14,163 13,261 13,107 12,216 12,104 11,602 11,721 11,346 11,604 12,076 11,244.1 10,885.7 10,724.8 10,890.3 10,897.0 5,920.6 5,724.4 5,575.3 5,524.4 5,411.0 5,179.8 5,214.0 5,126.3 4,369.4 4,172.0 4,060.9 3,923.4 3,708.3 3,559.2 3,412.2 3,544.2 3,441.9 3,330.0 3,266.8 3,207.2 3,147.8 3,006.9 2,954.1 2,667.9 2,544.1 2,467.0 2,446.4 2,411.4 2,334.8 2,288.2 2,287.0 2,596.8 2,686.0 2,526.3 2,569.3 2,314.8 2,172.4 2,110.5 2,082.1 1,972.1 1,942.4 1,817.5 1,827.2 1,703.8 1,648.0 1,628.3 1,592.5 1,505.9 1,441.9 1,375 1,385.9
Debt Metrics
Total Debt 6,416 6,410 5,365 5,617 5,455 5,275 5,476 5,791 5,512 5,517 5,415 5,433 5,425 5,502 5,293 5,362 5,680 5,641 5,589 3,961 3,964 3,949 4,055 4,120 4,779 3,826 3,771 2,989 3,002 2,668 2,667 2,666 3,127 3,837 3,349.4 3,490.6 3,602.8 3,828 3,829.3 759.7 759.3 764.3 771.2 783.2 764.0 764.0 764.0 763.9 763.9 763.9 763.8 763.8 763.8 763.8 763.7 764.6 764.6 764.6 764.5 764.5 764.5 764.5 610.5 515.4 515.4 515.4 515.4 510.4 510.3 510.3 515.9 549.4 554.8 511.4 335.2 260.2 280.9 260.2 260.1 260.1 260.1 266.9 267.2 267.5 267.8 298.1 348.4 536.7 537 510.3
Net Debt 4,145 3,686 3,438 3,532 3,158 2,356 2,561 2,749 2,404 2,213 2,358 2,756 3,011 3,274 3,515 4,045 4,625 3,733 2,018 2,117 2,571 2,636 2,838 3,011 3,242 3,098 2,334 2,580 2,557 1,915 1,879 2,184 2,276 2,306 2,671.2 3,094.8 3,230.2 3,369 3,448.7 (11.3) 144.4 101.7 (190.7) (243.3) (181.6) (116.6) (49.5) (112.1) 231.3 302.6 172.3 138.3 (14.1) (26.3) (434.7) (345.9) (130.6) (61.3) 5.6 52.2 110.0 134.2 182.1 226.6 330.2 269.8 262.5 306.4 331.0 420.1 493.5 527.0 547.0 486.5 196.0 217.6 267.6 207.5 57.3 (15.5) 23.7 29.0 143.8 157.8 221.2 254.7 297.4 479.3 500 472.9
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 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
Operating Activities
Net Income (168) (533) (772) (131) (35) 19 120 323 185 (487) 295 307 407 248 412 873 764 661 620 536 253 123 69 24 157 85 166 129 82 131 318 288 297 815.7 219.2 159.4 144.7 105.3 70.0 115.6 128.9 116.2 188.4 210.1 150.4 187.4 170.2 169.4 158.0 171.0 170.3 145.8 123.3 95.3 87.0 115.5 87.8 26.4 67.9 81.0 83.5 84.1 62.7 56.9 17.6 12.5 29.8 16.9 (6.1) (109.6) 27.4 47.3 5.4 18.8 38.3 37.9 19.7 14.4 61.7 67.2 51.3 73.6 43.5 48.5 61.1 47.3 28.3 22.5 10.7
Depreciation & Amortization 284 297 303 295 283 281 281 279 273 282 277 271 267 271 264 264 257 240 203 202 195 196 196 191 190 188 178 176 171 168 161 156 156 152.5 153.6 144.6 150.3 150.5 94.2 67.2 65.7 65.5 61.2 60.3 58.6 60.1 53.9 48.5 46.0 41.5 40.7 40.2 35.4 34.9 38.4 35.8 35.4 33.2 32.9 32.8 32.6 32.4 32.2 32.1 32.0 31.9 (28.5) 30.9 29.0 30.4 27.7 27.8 26.0 26.3 26.9 26.6 24.5 24.5 21.3 20.6 20.8 20.9 19.5 20.8 21.5 18.7 21.7 20.8 20.9
Stock-Based Compensation 0 (30) 11 12 7 10 11 11 9 12 10 12 9 10 9 9 8 8 7 8 8 8 7 8 6 6 6 6 7 6 5 5 6 6.3 6 5 6 7.6 1.5 2.8 2.3 2.7 2.6 2.6 2.3 2.4 2.3 2.3 2.2 2.2 1.7 1.6 1.5 1.5 1.5 1.5 1.7 1.6 1.6 1.6 1.5 1.6 1.6 1.6 1.4 1.5 1.5 1.4 1.3 4.2 0 0 0.9 2.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (264) 546 (156) (54) (336) 105 46 (342) (278) 369 119 1 (157) 380 274 (300) (378) (134) (107) (165) (208) 107 (10) 246 (421) 20 139 (5) (157) (57) 102 (170) (249) 150.9 90.5 (10.6) (140.8) 26.2 55.0 7.7 (127.5) 14.1 143.0 (9.9) (21.1) (30.4) 105.3 (11.0) 0.7 (21.0) 55.7 (85.5) (72.5) (1.6) 50.8 55.3 (13.9) 68.9 14.8 (40.8) (85.2) (49.0) 53.7 16.2 (105.4) (25.8) (46.2) 3.4 89.2 188.8 31.2 (63.6) (63.4) (69.9) (5.8) 1.8 (89.4) (20.9) (16.6) (13.7) (13.1) 30.7 (48.0) 20.7 (43.1) (23.8) (26.9) 66.5 (9.8)
Other Non-Cash Items 20 44 855 31 5 (4) 16 2 2 505 11 (1) 2 (9) 25 28 7 9 6 22 7 5 37 9 3 14 (7) 7 29 18 (9) 16 (1) 7.2 5.4 3.2 3.2 5.4 (49.4) 3.2 0.8 6.9 6.1 (16.0) (5.0) 12.3 (3.0) (0.6) (2.7) 1.6 1.1 6.1 (0.9) 3.5 2.7 (1.5) (1.7) (6.9) (1.6) 1.5 0.8 (1.6) 2.0 (1.6) (1.4) (1.4) 64.8 (0.5) (1.2) 12.7 3.4 1.2 1.6 (0.2) 0.0 0.6 (0.4) 0.6 0.1 (0.2) 3.3 2.9 8.7 (10.0) 1.5 (1.1) 4.9 (98.0) (17.1)
Operating Cash Flow (94) 225 182 135 (77) 434 474 237 169 573 696 555 512 835 947 913 700 757 755 617 265 431 357 448 61 333 501 320 147 254 606 324 225 575.3 482.9 322.3 157.4 289.7 174.3 241.0 128.9 237.5 405.9 244.8 190.6 256.3 343.9 219.7 212.5 205.2 292.0 139.2 116.3 123.4 178.0 212.6 110.1 117.9 119.0 84.6 40.7 68.3 159.4 110.7 (55.1) 22.1 60.1 33.0 120.3 109.5 84.6 20.2 (28.3) (32.8) 60.8 76.6 (42.4) 23.3 67.0 80.1 66.8 143.3 31.4 91.4 52.3 67.4 44.4 29.2 9.8
Investing Activities
Capital Expenditure (209) (241) (239) (267) (248) (285) (220) (231) (272) (282) (245) (240) (267) (297) (318) (230) (263) (244) (144) (129) (141) (122) (112) (127) (164) (183) (193) (208) (203) (195) (195) (158) (154) (162.7) (133.4) (146.6) (134.3) (161.2) (180.2) (150.8) (136.3) (162.2) (125.3) (108.1) (95.8) (119.9) (94.3) (106.2) (110.7) (180.9) (200.4) (147.2) (150.8) (155.7) (94.9) (75.7) (64.9) (65.0) (42.6) (40.4) (28.8) (30.0) (20.2) (16.4) (14.7) (34.7) (14.7) (17.6) (32.8) (45.4) (45.4) (38.8) (43.0) (49.4) (35.8) (31.6) (18.9) (35.6) (37.8) (34.3) (28.5) (25.0) (16.6) (26.8) (17.3) (21.8) (11.5) (8.4) (11.0)
Acquisitions (62) 22 (1) (16) (6) (2) (23) 0 (1) (7) (16) (1) (1) (35) (29) (69) (1,250) (2,131) (438) (2) (7) (18) 5 0 39 (817) (3) (78) (278) (5) (18) (19) (26) (13) (16) (16) (15) 0.6 (2,437.8) 0 0 (12.1) 27.9 (1.2) 0 0 (611.1) 0 0 (161.1) (17.2) (184.4) 0 1.9 0 0 (0.5) 0 0 0 0 0 0 0 0 0 0 0 (6.3) 0 0 0 0 8.0 0 0 0 (235.7) 0 0 0 0 0 0 0 (33.3) 0 0 0
Purchases of Investments (35) (73) (6) (9) (183) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (19.0) (15.6) (16.0) (15.4) (13) (5.3) (103.9) (37.9) (322.6) (282.5) 0.8 (0.8) 0 0.3 (68.2) (49.4) (141.8) (115.8) (21.6) (94.9) (124.9) 0 0 (3.0) 0 (30.0) 0 (0.2) 0 0 0 0 0 0 0 (1.4) 0 0 0 0 0 0 0 0 (81.9) (134.6) 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 33 68 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.6) 360.5 275.6 26.9 32.1 0.7 13.9 0 (1.1) (0.7) 311.9 30.1 15.1 27.7 85.6 124.2 (0.0) 1.6 46.0 0.5 0 0 0 0 0 (1.0) 0.3 7.8 0 1.0 0 0 0 0 0 0 0 0 0 0 182.2 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 2 (31) 4 0 3 22 2 8 1 2 10 5 5 1 2 3 6 4 4 2 13 (3) 1 (1) (7) (6) 11 (2) 6 7 6 1 2 2.2 0.0 0.2 1.3 0.4 (1.2) (2.2) (1.1) 11.4 (0.3) 15.8 (0.8) 0.0 45.8 0.0 0.0 161.2 0.0 0.1 0.2 6.4 (3.5) (0.9) 0.7 31.3 (29.8) 2.3 0.6 (0.2) 0.6 0.4 0.2 (2.0) 1.5 4.8 (1.4) (0.3) 0.0 0.3 0.5 (8.2) (0.3) 7.6 3.8 (0.3) 34.3 (4.6) (27.4) (1.9) 0.0 0.0 0 37.2 (32.2) (0.0) 1.0
Investing Cash Flow (271) (255) (242) (292) (434) (265) (241) (223) (272) (287) (251) (236) (263) (331) (345) (296) (1,507) (2,371) (578) (129) (135) (143) (106) (128) (132) (1,006) (185) (288) (475) (193) (207) (176) (178) (192.6) (149.0) (162.5) (148.0) (173.7) (2,262.7) 20.8 (147.2) (452.6) (379.3) (77.6) (96.7) (121.0) (659.7) 137.6 (130.0) (307.6) (305.8) (267.6) (121.3) (272.4) (96.8) (30.6) (67.2) (64.0) (72.5) (38.1) (28.2) (37.4) (20.6) (15.6) (6.8) (36.8) (13.2) (12.8) (40.4) (45.7) (45.4) (38.4) (42.5) (49.6) (36.1) (24.0) (15.1) (171.3) (138.1) (38.9) (56.0) (26.9) (16.6) (26.7) (17.3) (17.8) (43.7) (8.4) (10)
Financing Activities
Net Debt Issuance 0 933 0 0 0 300 (300) 0 0 0 0 0 0 0 0 (247) (3) 6 1,668 (4) 4 (154) (103) (688) 979 8 776 8 (3) 1 1 (465) (702) 496.7 (139.4) (114.8) (71.9) 0.3 1,903.3 0.3 (5.0) (7.2) (11.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 30.8 0 0 0 11.2 1.4 (1.3) (0.1) 0 2.1 (0.7) (0.1) (1.3) (5.7) (36.0) (5.4) 43.4 213.8 0 0 20.7 0 0 0 (6.8) (0.3) (0.3) (0.3) (30.3) (55.7) (188.3) 0 0
Stock Repurchased 0 (33) 0 0 (30) (60) 0 0 0 0 0 (1) (22) (33) (37) (31) 0 0 (30) 0 0 54 0 0 (54) (20) (10) (20) 0 (57) (49) 0 0 0 0 0 0 0 (0.0) (66.7) (0.7) (48.2) (51.5) (60.8) (2) (43.1) (9.5) 0 0 (13.5) (6.1) (13.3) 0 (10.8) 0 0 0 (2.5) (0.0) 0 0 (1.3) 0 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
Dividends Paid (68) (68) (68) (68) (68) (67) (67) (65) (65) (65) (64) (45) (47) (46) (46) (38) (39) (38) (38) (34) (35) (35) (34) (34) (34) (34) (33) (32) (33) (33) (33) (27) (27) (26.5) (27) (25) (24) (24.6) (24.6) (23.6) (23.7) (23.7) (24.0) (21.9) (22.0) (22.0) (22.1) (16.8) (16.8) (15.0) (15.1) (12.6) (12.6) (263.2) (12.5) (4.9) (4.9) (4.9) (4.9) (4.2) (4.2) (4.2) (4.2) (3.8) (3.8) (3.8) (3.8) (3.5) (3.5) (3.4) (3.4) (3.3) (3.3) (3.3) (3.3) (2.6) (2.6) (2.6) (2.6) (1.8) (1.8) (1.8) (1.8) (1.4) (1.4) (1.4) 0 0 0
Other Financing Activities (14) (17) (20) (14) (17) (306) (9) (8) (16) (10) (19) (10) (6) (28) (20) (14) (5) (18) (41) 0 (3) (13) (8) (30) (8) (13) (16) (22) (6) (7) (8) (19) (2) (4.1) (4.2) (7.1) (3.8) (3.5) (181.7) (13.3) (3.7) (4.6) (3.1) (4.7) (1.7) (2.2) 2.4 3.0 5.7 0.6 1.0 (11.5) 5.4 3.7 20.6 38.3 0.5 20.4 4.9 15.5 4.8 173.8 6.2 12.4 5.3 9.1 6.4 8.0 14.0 13.1 0.2 41.5 13.5 45.2 (212.6) (20.7) 0 (0.0) (0.0) (0.2) (4.1) 0 1.0 0 0 (1.4) 181.3 (0.3) (0.3)
Financing Cash Flow (82) 815 (88) (82) (115) (133) (371) (72) (74) (70) (44) (56) (75) (107) (103) (330) (47) (50) 1,559 (38) (34) (202) (145) (752) 883 (39) 717 (69) 21 (96) (89) (511) (731) 466.4 (59.8) (146.9) (99.7) (27.3) 1,697.0 (103.4) (33.1) (83.7) (90.0) (87.4) (25.7) (67.3) 256.9 (13.9) (11.1) (27.9) (20.2) (24.1) (7.1) (259.4) 6.8 33.4 26.4 13.0 0.0 11.3 11.8 171.0 0.7 8.5 1.5 7.4 1.9 4.4 9.2 4.0 (39.3) 32.8 53.6 (31.9) 72.0 (23.3) 18.2 (2.2) (1.6) (2.0) (12.3) (1.9) (1.1) (1.7) (31.7) (57.2) (7.0) (0.3) (0.3)
Cash Position
Net Change in Cash (453) 798 (158) (213) (622) 4 (127) (66) (195) 247 380 263 183 440 462 260 (857) (1,669) 1,731 449 93 97 110 (429) 809 (709) 1,028 (36) (308) (36) 306 (369) (680) 852.8 282.5 23.2 (86.9) 78.9 (390.5) 156.0 (47.5) (299.4) (64.6) 80.9 65.0 67.1 (62.6) 343.4 71.3 (130.3) (33.9) (152.4) (12.2) (408.4) 87.9 215.4 69.2 67.0 46.6 57.8 24.2 202.0 139.5 103.5 (60.3) (7.3) 48.9 24.7 89.1 67.8 (0.0) 14.6 (17.1) (114.3) 96.6 29.3 (39.3) (150.2) (72.8) 39.2 (1.5) 114.5 13.7 63.0 3.2 (7.6) (6.4) 20.5 (0.5)
Cash at Beginning 2,724 1,927 2,085 2,313 2,935 2,931 3,058 3,108 3,304 3,057 2,692 2,429 2,246 1,806 1,344 1,084 1,941 3,610 1,879 1,430 1,337 1,240 1,130 1,559 750 1,459 431 467 775 811 505 874 1,554 678.2 395.8 372.6 459.5 380.5 771.0 615.0 662.5 961.9 1,026.6 945.6 880.6 813.5 876.1 532.6 461.3 591.6 625.5 777.9 790.1 1,198.5 1,110.5 895.1 825.9 758.9 712.3 654.5 630.3 428.3 288.8 185.3 245.6 252.9 204.0 179.3 90.2 22.5 22.5 7.8 24.9 139.3 42.6 13.3 52.6 202.8 275.6 236.4 237.9 123.3 109.7 46.6 43.4 51.0 57.4 37 0.0
Cash at End 2,271 2,724 1,927 2,100 2,313 2,935 2,931 3,042 3,108 3,304 3,072 2,692 2,429 2,246 1,806 1,344 1,084 1,941 3,610 1,879 1,430 1,337 1,240 1,130 1,559 750 1,459 431 467 775 811 505 874 1,531 678.2 395.8 372.6 459.5 380.5 771.0 615.0 662.5 961.9 1,026.6 945.6 880.6 813.5 876.1 532.6 461.3 591.6 625.5 777.9 790.1 1,198.5 1,110.5 895.1 825.9 758.9 712.3 654.5 630.3 428.3 288.8 185.3 245.6 252.9 204.0 179.3 90.2 22.5 22.5 7.8 24.9 139.3 42.6 13.3 52.6 202.8 275.6 236.4 237.9 123.3 109.7 46.6 43.4 51.0 57.5 (0.5)
Free Cash Flow (303) (16) (57) (132) (325) 149 254 6 (103) 291 451 315 245 538 629 683 437 513 611 488 124 309 245 321 (103) 150 308 112 (56) 59 411 166 71 412.6 349.6 175.7 23.1 128.5 (5.9) 90.1 (7.4) 75.3 280.6 136.7 94.7 136.3 249.6 113.6 101.8 24.3 91.6 (8.0) (34.5) (32.3) 83.1 136.9 45.2 52.9 76.4 44.3 11.9 38.3 139.2 94.3 (69.8) (12.7) 45.4 15.5 87.5 64.1 39.2 (18.6) (71.2) (82.3) 25.0 45.0 (61.3) (12.3) 29.2 45.8 38.2 118.3 14.8 64.7 34.9 45.6 32.9 20.8 (1.2)
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 Q2
Income Statement
Revenue 2,652 2,533 2,838 2,953 2,846 2,843 3,117 3,207 2,975 2,826 3,115 3,251 3,356 3,299 3,956 4,483 4,056 3,507 3,055 2,859 2,357 1,965 1,898 1,709 1,932 1,883 2,066 2,144 2,025 1,995 2,255 2,235 2,150 2,010.3 2,109 1,979 1,943 1,735.2 1,279.0 1,086.1 975.2 986.8 1,188.0 1,185.0 1,103.5 1,135.9 1,253.2 998.6 1,027.7 951.6 1,004.2 939.0 864.6 801.0 821.2 914.0 1,034.9 859.2 968.4 925.0 867.3 795.4 779.7 818.4 778.3 630.0 632.6 574.9 488.3 597.1 1,073.7 1,106.4 915.1 850.6 840.2 782.7 718.8 523.9 672.4 669.3 618.8 636.4 605.4 580.7 618.6 563.1 572.0 449.4 400.9 349.3
Gross Profit 82 (437) 236 258 232 328 499 664 466 199 586 642 792 567 776 1,445 1,285 1,096 1,018 872 509 323 248 169 283 250 371 340 299 354 539 552 542 498.0 496 403 366 281.5 202.1 241.4 255.6 236.2 311.3 353.2 284.5 362.8 361.5 306.0 287.0 295.7 304.5 273.5 227.8 190.2 172.2 201.9 172.6 77.3 147.1 167.1 167.6 164.1 134.9 126.0 57.7 46.9 72.5 55.7 20.1 (135.6) 71.8 96.5 36.7 43.0 86.1 84.4 57.9 31.0 109.2 125.2 131.1 135.1 89.3 99.5 119.8 98.3 84.5 81.5 38.8 0
Operating Income (154) (671) (766) (109) (32) 66 180 406 223 (552) 349 396 536 327 516 1,175 1,032 873 861 720 346 178 79 36 136 102 226 194 134 207 396 404 401 370.9 364 264 234 152.7 46.6 179.9 202.3 181.1 254.0 295.4 229.3 302.4 306.8 266.8 248.1 257.6 266.6 235.2 194.1 156.2 142.5 171.0 145.6 50.5 117.3 138.4 140.6 137.1 107.3 99.5 34.4 23.0 49.0 36.2 (0.9) (165.8) 48.8 73.6 13.9 20.0 59.8 62.3 32.7 8.5 87.0 106.9 110.9 112.5 70.1 82.8 101.7 81.4 68.9 65.9 26.9 349.3
Net Income (169) (544) (782) (142) (40) 7 108 313 174 (497) 285 297 394 232 401 858 756 644 607 522 242 113 57 15 145 72 158 119 72 123 308 278 287 802.2 211 153 138 98.9 65.7 111.1 123.1 111.0 183.6 205.1 146.3 183.3 167.8 169.4 158.0 171.0 170.3 145.8 123.3 95.3 87.0 115.5 87.8 26.4 67.9 81.0 83.5 84.1 62.7 56.9 17.6 12.5 29.8 16.9 (6.1) (109.6) 27.4 47.3 5.4 18.8 38.3 37.9 19.7 14.4 61.7 67.2 51.3 73.6 43.5 48.5 61.1 47.3 28.3 34.4 10.7 6.7
EPS (Diluted) -1.31 -4.22 -6.10 -1.10 -0.31 0.05 0.83 2.40 1.34 -3.88 2.20 2.30 3.05 1.81 3.10 6.60 5.83 4.98 4.69 4.04 1.87 0.87 0.45 0.11 1.13 0.56 1.22 0.92 0.55 0.95 2.35 2.12 2.20 6.15 1.61 1.17 1.06 0.76 0.51 0.85 0.94 0.84 1.39 1.54 1.10 1.37 1.25 1.26 1.18 1.27 1.27 1.09 0.92 0.71 0.65 0.86 0.66 0.20 0.51 0.61 0.63 0.64 0.48 0.43 0.14 0.09 0.23 0.13 -0.05 -0.83 0.21 0.36 0.04 0.14 0.30 0.29 0.15 0.11 0.48 0.52 0.39 0.56 0.34 0.37 0.47 0.36 0.25 0.23 0.11 0.07
Balance Sheet
Cash & Equivalents 2,271 2,724 1,927 2,085 2,297 2,919 2,915 3,042 3,108 3,304 3,057 2,677 2,414 2,228 1,778 1,317 1,055 1,908 3,571 1,844 1,393 1,313 1,217 1,109 1,537 728 1,437 409 445 753 788 482 851 1,531 678.2 395.8 372.6 459.5 380.5 771.0 615.0 662.5 961.9 1,026.6 945.6 880.6 813.5 876.1 532.6 461.3 591.6 625.5 777.9 790.1 1,198.5 1,110.5 895.1 825.9 758.9 712.3 654.5 630.3 428.3 288.8 185.3 245.6 252.9 204.0 179.3 90.2 22.5 22.5 7.8 24.9 139.3 42.6 13.3 52.6 202.8 275.6 236.4 237.9 123.3 109.7 46.6 43.4 51.0 57.4 37 37.4
Total Assets 19,707 19,961 19,814 20,806 20,711 20,750 21,109 21,083 20,960 21,035 21,396 20,981 20,806 20,550 20,425 20,372 19,741 18,459 17,108 14,719 14,050 13,835 13,694 13,555 14,163 13,261 13,107 12,216 12,104 11,602 11,721 11,346 11,604 12,076 11,244.1 10,885.7 10,724.8 10,890.3 10,897.0 5,920.6 5,724.4 5,575.3 5,524.4 5,411.0 5,179.8 5,214.0 5,126.3 4,369.4 4,172.0 4,060.9 3,923.4 3,708.3 3,559.2 3,412.2 3,544.2 3,441.9 3,330.0 3,266.8 3,207.2 3,147.8 3,006.9 2,954.1 2,667.9 2,544.1 2,467.0 2,446.4 2,411.4 2,334.8 2,288.2 2,287.0 2,596.8 2,686.0 2,526.3 2,569.3 2,314.8 2,172.4 2,110.5 2,082.1 1,972.1 1,942.4 1,817.5 1,827.2 1,703.8 1,648.0 1,628.3 1,592.5 1,505.9 1,441.9 1,375 1,385.9
Total Debt 6,416 6,410 5,365 5,617 5,455 5,275 5,476 5,791 5,512 5,517 5,415 5,433 5,425 5,502 5,293 5,362 5,680 5,641 5,589 3,961 3,964 3,949 4,055 4,120 4,779 3,826 3,771 2,989 3,002 2,668 2,667 2,666 3,127 3,837 3,349.4 3,490.6 3,602.8 3,828 3,829.3 759.7 759.3 764.3 771.2 783.2 764.0 764.0 764.0 763.9 763.9 763.9 763.8 763.8 763.8 763.8 763.7 764.6 764.6 764.6 764.5 764.5 764.5 764.5 610.5 515.4 515.4 515.4 515.4 510.4 510.3 510.3 515.9 549.4 554.8 511.4 335.2 260.2 280.9 260.2 260.1 260.1 260.1 266.9 267.2 267.5 267.8 298.1 348.4 536.7 537 510.3
Stockholders' Equity 8,547 8,792 9,426 10,278 10,410 10,527 10,662 10,574 10,331 10,241 10,754 10,544 10,291 9,931 9,621 9,404 8,681 7,955 7,298 6,771 6,261 6,043 5,949 5,901 5,893 5,860 5,824 5,719 5,632 5,590 5,602 5,362 5,141 4,874 4,068.8 3,840.8 3,659.2 3,523.6 3,457.7 3,439.2 3,406.5 3,265.9 3,225.0 3,123.4 2,979.9 2,911.5 2,833.9 2,728.1 2,568.6 2,418.6 2,265.1 2,112.5 1,989.8 1,872.3 2,033.4 1,952.3 1,863.0 1,756.3 1,729.1 1,673.8 1,594.5 1,505.1 1,419.6 1,358.1 1,303.4 1,285.0 1,277.6 1,247.7 1,231.1 1,239.1 1,358.9 1,334.4 1,288.9 1,286.7 1,267.5 1,229.6 1,191.5 1,173.5 1,172.3 1,111.5 1,044.8 994.1 922.0 876.4 829.5 769.4 722.9 490.4 456 543.5
Cash Flow
Operating Cash Flow (94) 225 182 135 (77) 434 474 237 169 573 696 555 512 835 947 913 700 757 755 617 265 431 357 448 61 333 501 320 147 254 606 324 225 575.3 482.9 322.3 157.4 289.7 174.3 241.0 128.9 237.5 405.9 244.8 190.6 256.3 343.9 219.7 212.5 205.2 292.0 139.2 116.3 123.4 178.0 212.6 110.1 117.9 119.0 84.6 40.7 68.3 159.4 110.7 (55.1) 22.1 60.1 33.0 120.3 109.5 84.6 20.2 (28.3) (32.8) 60.8 76.6 (42.4) 23.3 67.0 80.1 66.8 143.3 31.4 91.4 52.3 67.4 44.4 29.2 9.8
Capital Expenditure (209) (241) (239) (267) (248) (285) (220) (231) (272) (282) (245) (240) (267) (297) (318) (230) (263) (244) (144) (129) (141) (122) (112) (127) (164) (183) (193) (208) (203) (195) (195) (158) (154) (162.7) (133.4) (146.6) (134.3) (161.2) (180.2) (150.8) (136.3) (162.2) (125.3) (108.1) (95.8) (119.9) (94.3) (106.2) (110.7) (180.9) (200.4) (147.2) (150.8) (155.7) (94.9) (75.7) (64.9) (65.0) (42.6) (40.4) (28.8) (30.0) (20.2) (16.4) (14.7) (34.7) (14.7) (17.6) (32.8) (45.4) (45.4) (38.8) (43.0) (49.4) (35.8) (31.6) (18.9) (35.6) (37.8) (34.3) (28.5) (25.0) (16.6) (26.8) (17.3) (21.8) (11.5) (8.4) (11.0)
Free Cash Flow (303) (16) (57) (132) (325) 149 254 6 (103) 291 451 315 245 538 629 683 437 513 611 488 124 309 245 321 (103) 150 308 112 (56) 59 411 166 71 412.6 349.6 175.7 23.1 128.5 (5.9) 90.1 (7.4) 75.3 280.6 136.7 94.7 136.3 249.6 113.6 101.8 24.3 91.6 (8.0) (34.5) (32.3) 83.1 136.9 45.2 52.9 76.4 44.3 11.9 38.3 139.2 94.3 (69.8) (12.7) 45.4 15.5 87.5 64.1 39.2 (18.6) (71.2) (82.3) 25.0 45.0 (61.3) (12.3) 29.2 45.8 38.2 118.3 14.8 64.7 34.9 45.6 32.9 20.8 (1.2)