Waste Management, Inc. logo WM - Waste Management, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 19
HOLD 16
SELL 0
STRONG
SELL 0
| PRICE TARGET: $258.00 DETAILS
HIGH: $264.00
LOW: $250.00
MEDIAN: $260.00
CONSENSUS: $258.00
UPSIDE: 18.40%
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 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Revenue
Revenue 6,227 6,313 6,443 6,430 6,018 5,893 5,609 5,402 5,159 5,217 5,198 5,119 4,892 4,935 5,075 5,027 4,661 4,678 4,665 4,476 4,112 4,067 3,861 3,561 3,729 3,846 3,967 3,946 3,696 3,842 3,822 3,739 3,511 3,652 3,716 3,677 3,440 3,460 3,548 3,425 3,176 3,246 3,360 3,315 3,040 3,437 3,602 3,561 3,396 3,500 3,621 3,526 3,336 3,434 3,461 3,459 3,295 3,406 3,522 3,347 3,103 3,187 3,235 3,158 2,935 3,006 3,023 2,952 2,810 3,108 3,525 3,489 3,266 3,361 3,403 3,358 3,188 3,283 3,441 3,410 3,229 3,372 3,375 3,289 3,038 3,208 3,274 3,138 2,896 2,968 2,915 2,812 2,825 2,791 2,915 2,719 2,884.3 3,124.6 3,265.7 3,217.3
Cost of Revenue 3,694 4,463 4,562 4,547 4,303 4,205 3,957 3,834 3,654 3,672 3,707 3,707 3,591 3,638 3,659 3,650 3,385 3,465 3,423 3,236 2,986 2,936 2,751 2,594 2,731 2,709 2,845 2,852 2,664 2,749 2,749 2,697 2,531 2,986 2,652 2,646 2,494 2,460 2,552 2,130 1,993 2,027 2,095 2,163 1,946 2,170 2,299 2,301 2,232 2,267 2,325 2,311 2,209 2,224 2,229 2,260 2,166 2,145 2,261 2,140 1,995 1,941 2,006 1,996 1,881 1,874 1,856 1,786 1,725 1,972 2,221 2,181 2,092 2,133 2,143 2,092 2,034 2,107 2,181 2,199 2,100 2,212 2,202 2,173 2,044 2,117 2,151 2,040 1,920 1,917 1,887 1,743 1,689 1,595 1,732 1,646 1,762.1 1,871.0 1,949.1 1,955.7
Gross Profit 2,533 1,850 1,881 1,883 1,715 1,688 1,652 1,568 1,505 1,545 1,491 1,412 1,301 1,297 1,416 1,377 1,276 1,213 1,242 1,240 1,126 1,131 1,110 967 998 1,137 1,122 1,094 1,032 1,093 1,073 1,042 980 666 1,064 1,031 946 1,000 996 1,295 1,183 1,219 1,265 1,152 1,094 1,267 1,303 1,260 1,164 1,233 1,296 1,215 1,127 1,210 1,232 1,199 1,129 1,261 1,261 1,207 1,108 1,246 1,229 1,162 1,054 1,132 1,167 1,166 1,085 1,136 1,304 1,308 1,174 1,228 1,260 1,266 1,154 1,176 1,260 1,211 1,129 1,160 1,173 1,116 994 1,091 1,123 1,098 976 1,051 1,028 1,069 1,136 1,196 1,183 1,073 1,122.2 1,253.6 1,316.6 1,261.6
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 707 674 665 696 687 747 525 501 491 513 470 467 476 487 473 487 491 492 469 445 458 510 416 377 425 445 386 391 409 370 345 365 373 369 356 353 390 378 330 333 351 343 322 316 336 376 365 347 375 363 347 347 390 356 335 407 407 407 380 382 382 396 369 345 351 365 339 323 337 382 369 358 368 371 365 343 353 348 344 328 368 324 309 313 330 318 316 317 316 295 301 407 359 452 398 389 388.0 411.2 444.8 494.0
Other Expenses 713 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (40) (9) (5) (1) (1) 304 (22) (2) (2) (3) (62) (3) 2 (11) 326 331 323 317 294 317 319 299 277 317 309 291 274 301 302 289 322 303 318 295 341 330 289 311 292 356 318 326 336 455 340 298 325 343 339 316 314 319 279 313 361 344 340 349.7 366.6 362.3 350.4
Operating Expenses 1,420 674 665 696 687 747 525 501 491 513 470 467 476 487 473 487 491 492 469 445 458 510 416 377 425 445 386 391 409 370 345 365 373 369 356 353 390 378 330 680 674 644 660 644 640 683 706 692 692 703 693 692 713 682 666 730 724 701 697 701 681 673 686 654 642 639 640 625 626 704 672 676 663 712 695 632 664 640 700 646 694 660 764 653 628 643 659 656 632 609 620 686 672 813 742 729 737.6 777.8 807.1 844.4
Operating Income
Operating Income 1,113 1,176 1,216 1,187 1,028 941 1,127 1,067 1,014 1,032 1,021 945 825 810 943 890 785 721 773 795 668 621 694 590 573 692 736 703 623 723 728 677 607 297 708 678 556 622 666 611 508 502 601 502 440 752 546 532 469 (410) 577 510 402 484 500 466 401 552 543 506 427 574 544 586 412 456 525 534 372 459 632 632 511 575 565 633 481 472 557 565 435 499 382 463 366 448 465 442 344 441 385 383 464 383 441 344 384.6 475.8 509.4 417.2
Interest Expense 225 223 225 232 232 201 131 136 130 128 127 125 120 109 91 93 85 83 87 98 97 97 97 119 112 110 105 100 96 97 93 93 91 91 89 90 89 94 91 93 95 91 95 95 104 115 116 115 122 118 119 122 122 122 123 121 122 123 118 119 121 119 126 116 112 110 104 107 105 0 0 105 0 0 0 0 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 1 0 0 1 2 0 1 1 0 2 1 1 2 1 2 3 1 1 2 0 3 3 3 4 0 0 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
Profitability
EBITDA 1,845 1,928 1,729 1,904 1,711 1,587 1,717 1,606 1,546 1,331 1,550 1,488 1,353 1,325 1,451 1,404 1,266 1,264 1,339 1,081 1,140 1,108 1,058 953 973 1,062 1,149 1,030 947 1,150 1,090 1,110 972 1,042 1,066 1,040 874 933 907 955 821 789 935 830 (32) 1,020 926 907 789 (158) 947 857 706 825 882 778 711 829 856 819 726 850 854 889 705 731 830 839 665 733 958 949 808 812 896 956 800 857 897 910 763 825 778 809 687 766 809 790 669 753 733 687 777 726 782 679 734.3 842.4 871.7 767.6
EBIT 1,110 1,158 1,000 1,160 1,020 901 1,126 1,030 999 772 999 934 816 752 919 869 756 725 793 554 642 644 613 514 547 641 720 597 558 756 690 702 602 294 692 660 523 604 548 552 491 488 591 484 454 713 530 517 457 (485) 571 504 383 471 471 455 394 535 539 500 427 573 537 580 414 457 529 537 376 436 632 635 511 516 565 634 490 536 557 565 435 500 409 463 366 448 464 442 344 442 408 383 464 383 441 344 384.6 475.8 509.4 417.2
Income Before Tax 891 935 775 928 788 700 995 894 869 644 872 809 696 643 828 776 671 642 706 456 545 547 516 395 435 531 615 497 462 659 597 609 511 584 603 570 434 510 457 459 396 397 496 389 (222) 599 414 402 336 (603) 452 383 262 349 348 334 272 412 421 381 306 454 411 464 302 347 425 430 271 343 511 517 385 456 436 480 331 325 413 447 289 341 226 305 220 338 337 297 206 337 282 322 352 272 304 212 155.8 (59.8) 105.1 119.9
Income Tax Expense 168 193 172 201 151 102 235 214 162 175 210 196 164 143 189 189 157 136 167 105 124 109 126 88 74 84 120 115 115 128 99 110 116 (319) 215 209 137 176 153 173 140 124 159 116 (91) 1 133 180 99 (4) 155 127 86 114 125 115 89 134 136 131 110 160 153 206 110 16 133 163 101 125 201 199 144 147 158 142 109 79 113 30 103 51 11 (222) 70 69 35 81 62 111 106 84 135 114 113 89 117.2 131.1 104.8 64.8
Net Income 723 742 603 726 637 598 760 680 708 493 663 615 533 499 639 587 513 506 538 351 421 438 390 307 361 447 495 381 347 531 499 499 396 903 386 362 298 335 302 287 258 273 335 274 (129) 590 270 210 228 (605) 291 244 168 224 214 208 171 266 272 237 186 281 244 246 182 315 277 247 155 218 310 318 241 309 278 338 222 246 300 417 186 290 215 527 150 269 302 216 152 183 176 236 217 158 191 124 38.5 (190.8) 0.3 55.0
Per Share Data
EPS (Basic) 1.79 1.84 1.50 1.80 1.58 1.49 1.89 1.70 1.76 1.23 1.64 1.52 1.31 1.22 1.55 1.42 1.23 1.21 1.28 0.83 1.00 1.04 0.92 0.73 0.85 1.05 1.17 0.90 0.82 1.25 1.16 1.16 0.91 2.08 0.88 0.82 0.68 0.76 0.68 0.65 0.58 0.61 0.75 0.60 -0.28 1.29 0.59 0.45 0.49 -1.30 0.62 0.52 0.36 0.48 0.46 0.45 0.37 0.58 0.58 0.50 0.39 0.59 0.51 0.51 0.37 0.65 0.56 0.50 0.31 0.44 0.63 0.65 0.49 0.62 0.54 0.65 0.42 0.47 0.56 0.77 0.34 0.53 0.39 0.93 0.26 0.47 0.52 0.37 0.26 0.31 0.30 0.39 0.35 0.25 0.31 0.20 0.06 -0.31 0.00 0.09
EPS (Diluted) 1.79 1.83 1.49 1.80 1.58 1.48 1.88 1.69 1.75 1.22 1.63 1.51 1.30 1.21 1.54 1.41 1.23 1.20 1.28 0.83 0.99 1.03 0.92 0.72 0.85 1.05 1.16 0.89 0.81 1.24 1.16 1.15 0.91 2.06 0.87 0.81 0.67 0.75 0.68 0.64 0.58 0.61 0.74 0.60 -0.28 1.28 0.58 0.45 0.49 -1.30 0.62 0.52 0.36 0.48 0.46 0.45 0.37 0.57 0.58 0.50 0.39 0.59 0.51 0.51 0.37 0.65 0.56 0.50 0.31 0.44 0.63 0.64 0.48 0.62 0.54 0.64 0.42 0.47 0.55 0.76 0.34 0.53 0.38 0.92 0.26 0.47 0.52 0.37 0.26 0.31 0.30 0.39 0.35 0.25 0.30 0.20 0.06 -0.31 0.00 0.09
Shares Outstanding 403.2 403.1 403 402.6 402.3 401.6 401.5 401.3 401.7 402 404 405.9 407.4 409.2 412 414.4 415.7 417.9 419.5 421.6 422.9 422.9 422.7 422.3 424.2 424.5 424.5 424.8 424.5 425.3 427.9 429.9 433.3 434.4 437.8 441.9 441.3 441.1 442.9 444 446.1 447.3 449.6 455.5 458.5 458.5 460.8 465.9 465.2 465.2 469.3 467.9 465.7 465.7 464.1 463.4 462.1 462.1 468.3 474.2 475.7 475.7 477.3 482.1 485.6 485.6 492.2 492.4 491.8 491.8 490.8 490.7 496 496 515.9 520 528.6 525.8 535.7 541.6 547.1 547.1 551.3 566.7 576.9 571.5 580.8 583.8 584.6 584.6 586.7 603.2 620 627.3 616.1 620 620 621.5 621.1 620.6
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 1994 Q3 1994 Q2 1994 Q1 1993 Q4 1993 Q3 1993 Q2 1993 Q1
Current Assets
Cash & Cash Equivalents 158 201 175 440 216 414 614 172 322 458 150 144 257 351 137 894 155 118 116 148 476 553 703 2,663 3,125 3,561 2,915 2,250 57 61 83 47 52 22 35 32 30 32 30 39 104 1,169 871 1,140 528 947 537 553 689 135 753 381 264 656 75 396 887 94 144.8 103.5 147.4 181.4 221.9 81 59.4 86.9 166.2 45 46.3 51.2 63.2 43.9 23.4 23.5 14.1 30.3 16.6 13.2 12 41.7 7.6 6.6 1.6 5.8 3.1 3.2 3.7 5.3 6.7
Short-Term Investments 0 0 0 0 0 0 0 778 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 3,964 4,055 4,017 3,931 3,588 3,687 3,125 2,980 2,685 2,870 2,917 2,846 2,608 2,752 2,676 2,665 2,479 2,546 2,669 2,645 2,427 2,624 2,217 2,107 2,168 2,319 2,280 2,260 2,081 2,275 2,342 2,189 2,204 2,374 2,002 2,077 1,972 2,132 2,040 2,023 1,988 1,641 1,493 1,527 1,565 1,468 1,895 1,863 1,754 1,811 1,678 1,623 1,644 1,755 1,745 1,613 1,469 1,575 1,601.2 1,658.6 1,614.1 1,916.3 1,934.6 2,655.4 2,373.4 2,385.9 2,428.5 630.4 524.9 498.7 504.3 388.9 299.4 235.6 235.7 124.3 74.1 72.1 70.8 61.3 32.3 28.1 25.7 23.3 12.3 10.6 10.3 6.9 6
Inventory 0 0 223 224 218 206 184 183 189 173 175 170 170 164 159 159 149 135 132 126 124 124 117 118 116 106 109 104 105 102 103 100 98 96 99 96 95 90 93 93 92 110 107 110 102 103 104 82 79 82 77 78 80 81 82 73 75 75 75.0 116.5 115.2 107.2 90.1 99.8 98.6 128.3 136.7 0 0 152.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 686 654 424 389 433 467 336 326 333 303 320 320 336 284 292 269 276 270 267 307 300 239 320 218 226 223 256 222 245 207 147 135 137 132 164 121 126 122 130 121 118 346 355 233 324 289 429 415 419 111 562 557 551 439 527 521 532 713 1,283.2 2,497.6 4,029.3 4,015.6 2,550.7 670.1 997.5 1,280.3 1,285.3 100.3 105.1 427.5 139.2 88.7 70 80.9 75.8 62.2 41 34.8 21.4 23.1 2.9 2.3 2.6 3.5 1.7 1.3 2 2.1 1.8
Total Current Assets 4,808 4,910 4,839 4,984 4,455 4,774 4,259 4,439 3,529 3,804 3,562 3,480 3,371 3,551 3,264 3,987 3,059 3,069 3,184 3,226 3,327 3,540 3,357 5,106 5,635 6,209 5,560 4,836 2,488 2,645 2,675 2,471 2,491 2,624 2,300 2,326 2,223 2,376 2,293 2,276 2,302 3,156 2,719 3,010 2,417 2,704 2,861 3,121 3,136 2,588 3,186 2,831 2,700 3,079 2,556 2,707 3,080 2,457 3,104.2 4,376.2 5,906.0 6,220.5 4,797.3 3,506.3 3,528.9 3,881.4 4,016.7 775.7 676.3 655.4 706.7 521.5 392.8 340 325.6 216.8 131.7 120.1 104.2 126.1 42.8 37 29.9 32.6 17.1 15.1 16 14.3 14.5
Non-Current Assets
Property, Plant & Equipment 20,335 20,378 20,069 19,963 19,553 19,340 17,931 17,420 17,044 16,968 16,229 15,917 15,705 15,719 14,742 14,382 14,298 14,419 14,083 14,110 14,038 14,148 12,846 12,917 12,900 12,893 12,805 12,665 12,390 11,942 11,815 11,625 11,637 11,559 11,136 11,002 10,929 10,950 10,842 10,841 10,796 11,575 11,515 11,541 11,262 11,206 11,162 11,325 11,287 11,411 10,812 10,707 10,612 10,539 10,168 10,028 9,949 10,126 10,036.2 10,123.8 10,136.4 10,303.8 10,389.9 11,854.3 11,532.8 11,637.7 10,633.5 5,123.1 4,601.6 3,955 3,595.9 2,917.5 2,260.2 1,810.3 1,661.8 881 599.9 593.3 564.4 534.6 181.7 182.4 171.5 168.9 115.8 109.2 102.3 63 60.3
Goodwill 13,873 13,880 13,894 13,886 13,529 13,438 9,822 9,363 9,246 9,254 9,398 9,399 9,344 9,323 9,092 9,022 9,034 9,028 9,006 8,992 8,980 8,994 6,504 6,512 6,498 6,532 6,550 6,512 6,479 6,430 6,390 6,346 6,327 6,247 6,267 6,248 6,223 6,215 6,227 6,230 6,215 5,667 5,675 5,632 5,524 5,471 5,400 0 0 5,266 0 0 5,079 5,047 0 0 0 0 0 0 0 0 0 0 0 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 3,664 3,767 3,873 3,964 4,015 4,188 742 753 728 759 779 809 823 827 847 834 868 898 919 956 990 1,024 450 472 494 521 543 547 570 572 554 553 597 547 561 573 572 591 617 632 645 256 245 238 178 162 128 5,476 5,459 156 5,331 5,266 105 109 5,141 5,150 5,153 5,193 5,246.0 5,367.2 5,364.8 5,356.7 5,505.4 6,751.2 6,482.6 6,250.3 5,779.3 2,172 2,031.8 1,646 1,421.3 958.3 807.6 517.4 487.4 174.7 123.3 118.8 117.9 95.1 88.2 87.7 67.4 58.5 26 26 26 24.7 23.9
Long-Term Investments 1,410 0 1,332 810 824 846 524 552 589 606 542 564 569 578 593 607 625 432 402 417 426 426 425 439 451 483 494 333 334 406 419 254 266 269 287 289 295 320 326 321 371 (113) (105) (116) (85) (67) (73) (415) (419) 0 (562) (557) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 1,610 2,900 1,601 2,115 2,110 1,981 1,452 1,472 1,530 1,010 (386) (333) (306) 893 (326) (336) (345) 1,683 (461) (408) (496) 1,639 (278) (194) (187) 1,588 (174) (196) (185) 1,061 (507) (485) (470) 852 (1,054) (1,086) (1,113) 727 (977) (943) (986) 1,105 841 733 767 857 724 1,308 1,319 1,235 1,127 1,112 1,135 1,215 1,015 824 776 789 789.3 789.4 816.9 800.4 732.4 879.9 1,063.6 945.8 945.3 304 279.7 366.4 320.7 220.5 226.2 162.8 154.2 117.4 86.3 75.8 50.4 57.9 25.5 16.1 27.9 28.8 16.1 15.4 12.9 11.4 13.8
Total Non-Current Assets 40,892 40,925 40,769 40,738 40,031 39,793 30,471 29,560 29,137 29,019 28,373 28,134 27,919 27,816 26,577 26,141 26,160 26,028 25,657 25,811 25,743 25,805 21,415 21,513 21,543 21,534 21,549 21,150 20,885 20,005 19,916 19,543 19,615 19,205 18,649 18,513 18,427 18,483 18,463 18,476 18,479 18,603 18,276 18,144 17,731 17,696 17,414 18,109 18,065 18,068 17,270 17,085 16,931 16,910 16,324 16,002 15,878 16,108 16,071.5 16,280.4 16,318.2 16,460.9 16,627.7 19,485.4 19,079 18,833.8 17,358.1 7,599.1 6,913.1 5,967.4 5,337.9 4,096.3 3,294 2,490.5 2,303.4 1,173.1 809.5 787.9 732.7 687.6 295.4 286.2 266.8 256.2 157.9 150.6 141.2 99.1 98
Total Assets 45,700 45,835 45,608 45,722 44,486 44,567 34,730 33,999 32,666 32,823 31,935 31,614 31,290 31,367 29,841 30,128 29,219 29,097 28,841 29,037 29,070 29,345 24,772 26,619 27,178 27,743 27,109 25,986 23,373 22,650 22,591 22,014 22,106 21,829 20,949 20,839 20,650 20,859 20,756 20,752 20,781 21,759 20,995 21,154 20,148 20,400 20,275 21,230 21,201 20,656 20,456 19,916 19,631 19,989 18,880 18,709 18,958 18,565 19,175.7 20,656.6 22,224.2 22,681.4 21,425 22,991.7 22,607.9 22,715.2 21,374.8 8,374.8 7,589.4 6,622.8 6,044.6 4,617.8 3,686.8 2,830.5 2,629 1,389.9 941.2 908 836.9 813.7 338.2 323.2 296.7 288.8 175 165.7 157.2 113.4 112.5
Current Liabilities
Account Payables 1,803 0 2,082 2,025 1,901 2,046 1,853 1,785 1,617 1,709 1,738 1,626 1,510 1,766 1,489 1,382 1,384 1,375 1,466 1,393 1,212 1,121 884 904 1,031 1,065 903 908 899 1,037 940 829 791 1,040 789 808 720 799 689 620 591 543 500 567 519 451 574 677 590 668 552 501 526 533 740 712 712 865 850.9 940.6 965.9 1,063 1,097.9 1,068.3 1,033.7 1,041 901.9 245.6 196.7 1,007.5 194.2 153.2 110.8 118.8 81.7 44.7 32.5 32.4 53.1 17.9 11.2 12 12.6 12.4 7.7 5.9 6.2 2.8 3.2
Short-Term Debt 641 711 880 964 954 1,359 676 242 336 334 297 513 336 414 258 231 435 708 601 361 244 551 167 3,190 387 218 211 116 1,043 432 447 828 1,056 739 850 390 396 417 432 614 524 758 632 749 244 693 481 775 575 514 108 166 231 375 88 690 687 113 1,016.5 2,063.1 2,760.4 3,098.7 2,689.7 369.6 556.7 583.7 738.5 53.2 46.5 39.3 39.3 49.5 31 28.7 25 12.7 41.6 38.9 36.7 29.7 1.7 1.8 4.3 4.6 3.6 2.7 3.6 1.2 0.1
Deferred Revenue 4,505 4,813 698 689 685 673 599 584 586 578 587 568 584 589 591 616 600 571 562 557 548 539 496 494 497 534 517 526 512 522 512 517 495 503 484 497 479 493 475 483 465 459 450 457 455 431 450 442 427 429 415 415 414 407 383 382 382 0 0 0 0 0 0 0 0 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 (1,803) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 55 88 95 1,959 2,070.0 2,360.1 3,235.8 3,328 2,095.7 2,390.2 2,459 2,765 2,702.6 276.6 255.2 2,198.5 312.3 184.1 180.4 242.3 203.1 66.1 26.3 33.9 7.7 74.1 10.8 14.6 15.4 9.5 6.2 6.3 5.7 6.8 7.3
Total Current Liabilities 5,146 5,524 5,737 5,816 5,347 6,258 4,779 4,136 3,949 4,226 4,218 4,251 3,856 4,394 3,834 3,722 3,806 4,082 4,102 3,683 3,285 3,553 2,806 5,772 3,070 3,144 2,989 2,846 3,612 3,108 3,070 3,305 3,373 3,262 3,259 2,770 2,558 2,794 2,664 2,806 2,560 2,858 2,670 2,901 2,235 2,586 2,740 3,579 3,303 3,332 3,135 3,106 3,173 3,635 3,083 3,193 3,219 2,937 3,937.4 5,363.7 6,962.0 7,489.5 5,883.3 3,828.1 4,049.4 4,293.7 4,343 575.4 498.4 568.7 545.8 386.8 322.2 320 309.8 123.5 100.4 105.2 97.5 121.7 23.7 28.4 32.3 26.5 17.5 14.9 15.5 10.8 10.6
Non-Current Liabilities
Long-Term Debt 22,250 22,196 22,482 23,056 22,883 22,541 15,977 16,501 15,762 15,895 15,133 14,855 15,034 14,570 13,805 14,046 13,052 12,697 12,446 12,883 13,244 13,259 10,255 9,598 13,065 13,280 13,147 12,623 9,323 9,594 9,569 8,968 8,901 8,752 8,495 8,667 8,646 8,893 8,829 8,916 9,072 8,827 8,191 8,124 7,999 8,096 7,797 7,947 8,445 7,997 8,350 8,164 8,062 8,151 7,854 7,671 8,282 8,372 7,990.6 8,054.6 8,352.9 8,399.3 8,713.5 10,932.4 10,981.2 11,114.2 9,695.3 4,051 3,584.9 2,724.4 2,440.9 1,997 1,423.4 1,158.3 1,001.5 558.6 355 334.9 488.7 444.3 167.7 153.9 135.9 145.7 97.1 93.6 88.1 53.2 52.3
Deferred Tax Liabilities 3,266 0 3,025 2,865 2,841 2,815 1,883 1,826 1,880 1,826 1,811 1,778 1,784 1,733 1,629 1,632 1,680 1,694 1,708 1,744 1,805 1,806 1,468 1,367 1,387 1,407 1,331 1,289 1,297 1,291 1,245 1,250 1,258 1,248 1,452 1,487 1,521 1,482 1,428 1,395 1,438 1,518 1,514 1,509 1,504 1,494 1,414 1,727 1,682 1,663 1,625 1,577 1,548 1,233 1,060 1,004 945 879 967.3 848.2 807.7 729.9 463.9 560.9 510.7 470.1 480.1 351.4 323.3 320.4 187.8 132.5 93.9 8.8 0 0 0 0 0 0 16.3 15.8 13.8 13.6 5.5 5.3 4.7 5.2 4.8
Other Non-Current Liabilities 5,016 8,124 4,844 4,783 4,764 4,699 4,119 4,085 3,997 3,980 3,807 3,802 3,808 3,806 3,561 3,536 3,535 3,498 3,411 3,373 3,307 3,273 3,086 2,989 2,911 2,842 2,855 2,761 2,724 2,381 2,466 2,435 2,509 2,525 2,443 2,408 2,387 2,370 2,452 2,407 2,401 2,148 2,079 2,029 2,043 2,031 2,091 1,951 1,831 1,851 1,715 1,679 1,642 1,544 1,666 1,633 1,573 1,561 1,636.9 1,650.7 1,639.8 1,652 1,804.3 2,053.5 2,120.6 2,388 2,129.3 446.8 407.7 1,981.3 369.7 235.4 178.4 246.1 230.5 90.9 61.8 65.1 59.5 110 17.2 17.1 12.9 15.5 5.7 5.2 4.6 2.8 2.8
Total Non-Current Liabilities 30,532 30,320 30,351 30,704 30,488 30,055 21,979 22,412 21,639 21,701 20,751 20,435 20,626 20,109 18,995 19,214 18,267 17,889 17,565 18,000 18,356 18,338 14,809 13,954 17,363 17,529 17,333 16,673 13,344 13,266 13,280 12,653 12,668 12,525 12,390 12,562 12,554 12,745 12,709 12,718 12,911 12,493 11,784 11,662 11,546 11,621 11,302 11,625 11,958 11,511 11,690 11,420 11,131 10,928 10,580 10,308 10,800 10,812 10,594.8 10,553.5 10,800.4 10,781.6 10,981.7 13,546.8 13,612.5 13,936.9 12,304.7 4,849.2 4,315.9 3,425.1 2,998.4 2,364.9 1,695.7 1,355.2 1,232 649.5 416.8 400 548.2 554.3 201.2 186.8 162.6 174.8 108.3 104.1 97.4 61.2 59.9
Total Liabilities 35,678 35,844 36,088 36,520 35,835 36,313 26,758 26,548 25,588 25,927 24,969 24,686 24,482 24,503 22,829 22,936 22,073 21,971 21,667 21,683 21,641 21,891 17,615 19,726 20,433 20,673 20,322 19,519 16,956 16,374 16,350 15,958 16,041 15,787 15,649 15,332 15,112 15,539 15,373 15,524 15,471 15,351 14,454 14,563 13,781 14,207 14,042 15,204 15,261 14,843 14,825 14,526 14,304 14,563 13,663 13,501 14,019 13,749 14,532.2 15,917.3 17,762.5 18,271.1 16,865 17,374.9 17,661.9 18,230.6 16,647.7 5,424.6 4,814.3 3,993.8 3,544.2 2,751.7 2,017.9 1,675.2 1,541.8 773 517.2 505.2 645.7 676 224.9 215.2 194.9 201.3 125.8 119 112.9 72 70.5
Stockholders' Equity
Common Stock 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6.3 6.3 6.3 6.3 6.3 0 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings 17,571 0 16,823 16,553 16,160 15,858 15,563 15,104 14,738 14,334 14,124 13,744 13,414 13,167 12,933 12,563 12,247 12,004 11,740 11,444 11,337 11,159 10,952 10,795 10,718 10,592 10,364 10,088 9,924 9,797 9,464 9,166 8,867 8,588 7,871 7,671 7,497 7,388 7,235 7,116 7,012 6,176 6,082 6,053 5,747 5,642 4,894 2,647 2,540 2,497 2,110 1,934 1,873 1,637 899 875 684 560 521.0 718.1 717.7 662.7 777.5 1,731.5 1,430.8 1,066.5 992.5 497.7 374.5 253.5 150.6 35.8 (36.5) (85.6) (131.9) (201.3) (303.4) (324) (363) (381.9) 18.8 14 8.5 3.9 21.3 19.1 16.5 13.7 11.5
Accumulated Other Comprehensive Income (44) 0 (31) 9 (87) (115) (76) (73) (60) (37) (58) (32) (57) (69) (92) (17) 15 17 12 70 48 39 (16) (41) (91) (8) (33) (22) (53) (87) (16) (49) (28) 8 14 (33) (66) (80) (63) (49) (58) 164 234 208 119 67 222 (82) (69) (53) (83) (141) (179) (194) (153) (113) (158) (129) (240.0) (477.2) (706.7) (702.7) (527.9) (6,852.4) (6,891.9) (6,598.1) (6,220.1) (996.3) (945.7) (889) (827.7) (572.9) (572.9) (572.9) (235) (235) (235) (235) (207.3) (207.3) 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 10,022 9,990 9,519 9,201 8,650 8,252 7,979 7,457 7,082 6,903 6,950 6,909 6,794 6,849 7,010 7,190 7,144 7,124 7,172 7,352 7,427 7,452 7,155 6,891 6,743 7,068 6,785 6,466 6,415 6,275 6,239 6,054 6,044 6,019 5,278 5,486 5,517 5,297 5,359 5,208 5,290 6,099 6,233 6,285 6,068 6,193 5,932 5,758 5,675 5,563 5,584 5,344 5,308 5,410 5,207 5,191 4,923 4,801 4,628.9 4,730.0 4,452.8 4,402.6 4,553 5,475.9 4,830.7 4,372.5 3,972.9 2,950.2 2,775.1 2,629 2,500.4 1,866.1 1,668.9 1,155.3 1,087.2 616.9 424 402.8 191.2 137.7 113.3 108 101.8 87.5 49.2 46.7 44.3 41.4 42
Total Liabilities & Equity 45,700 45,835 45,608 45,722 44,486 44,567 34,730 33,999 32,666 32,823 31,935 31,614 31,290 31,367 29,841 30,128 29,219 29,097 28,841 29,037 29,070 29,345 24,772 26,619 27,178 27,743 27,109 25,986 23,373 22,650 22,591 22,014 22,106 21,829 20,949 20,839 20,650 20,859 20,756 20,752 20,781 21,759 20,995 21,154 20,148 20,400 20,275 21,230 21,201 20,656 20,456 19,916 19,631 19,989 18,880 18,709 18,958 18,565 19,175.7 20,656.6 22,224.2 22,681.4 21,425 22,991.7 22,607.9 22,715.2 21,374.8 8,374.8 7,589.4 6,622.8 6,044.6 4,617.8 3,686.8 2,830.5 2,629 1,389.9 941.2 908 836.9 813.7 338.2 323.2 296.7 288.8 175 165.7 157.2 113.4 112.5
Debt Metrics
Total Debt 22,891 22,907 23,362 24,020 23,837 23,900 16,653 16,743 16,098 16,229 15,430 15,368 15,370 14,984 14,063 14,277 13,487 13,405 13,047 13,244 13,488 13,810 10,422 12,788 13,452 13,498 13,358 12,739 10,366 10,026 10,016 9,796 9,957 9,491 9,345 9,057 9,042 9,310 9,261 9,530 9,596 9,585 8,823 8,873 8,243 8,789 8,278 8,722 9,020 8,511 8,458 8,330 8,293 8,526 7,942 8,361 8,969 8,485 9,007.2 10,117.7 11,113.3 11,498 11,403.2 11,302 11,537.9 11,697.9 10,433.8 4,104.2 3,631.4 2,763.7 2,480.2 2,046.5 1,454.4 1,187 1,026.5 571.3 396.6 373.8 525.4 474 169.4 155.7 140.2 150.3 100.7 96.3 91.7 54.4 52.4
Net Debt 22,733 22,706 23,187 23,580 23,621 23,486 16,039 16,571 15,776 15,771 15,280 15,224 15,113 14,633 13,926 13,383 13,332 13,287 12,931 13,096 13,012 13,257 9,719 10,125 10,327 9,937 10,443 10,489 10,309 9,965 9,933 9,749 9,905 9,469 9,310 9,025 9,012 9,278 9,231 9,491 9,492 8,416 7,952 7,733 7,715 7,842 7,741 8,169 8,331 8,376 7,705 7,949 8,029 7,870 7,867 7,965 8,082 8,391 8,862.4 10,014.2 10,965.9 11,316.6 11,181.3 11,221 11,478.5 11,611 10,267.6 4,059.2 3,585.1 2,712.5 2,417 2,002.6 1,431 1,163.5 1,012.4 541 380 360.6 513.4 432.3 161.8 149.1 138.6 144.5 97.6 93.1 88 49.1 45.7
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 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 1994 Q4 1994 Q3 1994 Q2 1994 Q1 1993 Q4 1993 Q3 1993 Q2 1993 Q1
Operating Activities
Net Income 723 742 603 727 637 597 760 680 708 469 662 613 532 500 639 587 514 506 539 351 421 438 390 307 361 447 495 382 347 531 498 499 395 903 388 361 297 334 304 286 256 215 527 150 216 152 183 210 176 61 236 231 217 138 158 30 191 38.5 (190.8) 0.3 55.0 (112.3) (947.8) 300.7 364.3 81 (1,095.9) 127.1 121 102.8 49.1 72.3 49.1 46.2 (49.9) 16.1 20.5 39.1 18.9 (32.5) 4.8 5.5 4.6 1.4 2.3 2.6 2.9 2.1 2
Depreciation & Amortization 735 806 764 891 473 437 591 576 547 335 331 333 327 (209) 503 508 482 510 517 500 472 436 419 414 402 395 404 409 366 370 376 384 347 342 350 356 328 313 336 340 312 369 346 321 348 325 313 325 325 302 304 311 313 294 343 352 341 349.7 366.6 362.3 350.4 411.5 462 390.4 350.3 391.6 921.4 99.6 86.1 83.9 111.1 62.6 45.6 42 66.4 29.9 14.9 14.6 14.6 21.8 5.4 4.8 5 6.2 2.8 2.6 2.3 1.8 1.5
Stock-Based Compensation 52 0 0 (100) 51 34 27 27 30 22 24 21 26 13 20 26 25 27 36 22 23 20 51 10 13 24 19 16 27 26 22 18 23 27 20 18 36 23 16 21 30 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 (180) (41) (205) 237 (237) 123 (65) (98) 9 42 (33) (160) (100) (200) (54) (73) 182 (98) 100 (40) 164 (268) (29) 38 (68) 5 (42) 63 54 (57) (74) 77 25 (326) 92 69 (36) (10) (24) 64 47 (102) (259) 11 (90) (58) (27) (504) 112 (33) (71) 101 (166) (33) 227 (34) (108) 104.6 (69.2) (210.4) 121.0 (195.9) 336.4 (391.7) (468.4) 194.3 (23.2) 22.4 91.2 (74.2) 26.2 64.1 50.6 4.2 (77.5) 62 16.4 8.2 2.3 4.4 (9.9) (6.2) (3) (2.3) (0.8) (2) (0.8) (2.6) (0.7)
Other Non-Cash Items 59 69 268 (151) 225 261 (6) 12 16 500 241 234 217 843 63 52 66 32 16 263 54 23 102 118 61 80 35 153 95 (15) 63 3 34 49 49 48 60 40 87 83 55 120 30 17 24 12 54 5 5 56 (55) 3 8 3 27 356 (3) 86.6 351.5 234.0 110.0 89.5 793.1 (21.5) (0.1) 0.5 1,560.4 (250.7) (166.2) 112 (70.9) (144.1) (145.1) (70.5) 192.9 (71) (37.4) (20.6) (108.8) 2.1 0.1 (0.7) (0.9) 0.1 (0.1) (0.1) 0.3 (0.2) 0.1
Operating Cash Flow 1,501 1,698 1,592 1,545 1,208 1,511 1,358 1,154 1,367 1,382 1,263 1,030 1,044 1,049 1,182 1,047 1,258 991 1,184 1,043 1,120 753 1,029 856 765 1,022 952 1,010 890 912 874 975 809 790 856 813 721 753 753 748 706 623 595 508 549 470 640 213 644 429 626 643 448 436 847 642 466 462.3 560.3 427.2 675.2 397.2 507.6 410.5 374.3 205.1 1,247.6 14.2 35.1 261.6 136.1 54.9 0.2 21.9 131.9 37 14.4 41.3 (73) (4.2) 0.4 1.6 7.5 5.4 4.4 3.7 4.2 1 3.2
Investing Activities
Capital Expenditure (650) (888) (776) (732) (831) (1,115) (781) (667) (668) (1,042) (673) (520) (660) (862) (757) (550) (418) (774) (464) (396) (270) (394) (343) (436) (459) (286) (483) (578) (471) (454) (404) (436) (400) (528) (350) (299) (332) (377) (333) (312) (317) (272) (308) (185) (345) (181) (402) (297) (289) (212) (373) (362) (372) (180) (485) (369) (330) (399.9) (349.2) (315.3) (248.6) (557.3) (800.1) (696.5) (562.1) (1,005.6) (1,105.1) (517) (970) (1,980.4) (94.2) (113.9) (66.8) (101.9) (170.5) (61.3) (14.7) (28.7) (17.2) (29) (9.7) (8.4) (29.8) (11) (8.5) (8.9) (0.1) (9.5) (4)
Acquisitions 0 13 (29) (363) (3) (6,647) (498) (189) 4 (21) 1 (49) (23) (161) (190) 5 (4) (38) 52 (1) 8 (3,217) 3 3 11 12 (64) (38) (382) (16) (69) 65 (232) (40) (23) (35) (3) (21) (20) (24) (524) (39) (4) (87) (25) (73) (93) (72) (87) (85) (37) (61) (16) (48) (21) (30) (43) (13.5) (48.2) (55.2) (114.1) 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
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (379) (139) (86) (502) (431) 0 0 0 0 0 0 0 0 0 0 0 428.9 1,040.2 0 62.0 (16.2) (18.2) 0.2 (6.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 69 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 232 106 96 684 84 0 0 0 0 0 0 0 0 0 0 0 0.3 0.0 0 53.7 0 0 0 0 (0.8) 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (150) 8 21 9 5 0 799 (748) (91) (21) 4 8 (95) (4) 11 17 (150) 24 14 23 (72) 5 17 18 (55) (6) 16 (149) 53 (193) (23) (2) (5) 173 66 (3) (2) 16 (11) (3) (6) 113 173 141 141 100 173 119 91 70 231 89 70 97 61 61 28 22.4 5.6 1,046.7 (43.8) 174.1 (48.7) 260.5 253.9 (558) (579.8) 98.8 82.4 1,473.5 (238.2) (468.8) (542.7) 24.3 (178.5) (56.3) (18.6) (24.9) 15.5 (3.4) (3.9) (3.7) 28.2 (22.8) (0.8) 0.2 (27.5) 7.6 (6.6)
Investing Cash Flow (731) (867) (784) (1,086) (829) (7,762) (480) (1,604) (755) (1,084) (668) (561) (778) (1,027) (936) (528) (572) (788) (398) (374) (334) (3,606) (323) (415) (503) (280) (531) (765) (800) (663) (496) (373) (637) (395) (307) (337) (337) (382) (364) (339) (847) (345) (172) (121) (229) (154) (322) (250) (285) (227) (179) (334) (318) (131) (445) (338) (345) 38.1 648.4 676.2 (290.7) (399.4) (867) (435.8) (314.7) (1,564.4) (1,684.9) (418.2) (887.6) (506.9) (332.4) (582.7) (609.5) (77.6) (349) (117.6) (33.3) (53.6) (1.7) (32.4) (13.6) (12.1) (1.6) (33.8) (9.3) (8.7) (27.6) (1.9) (10.6)
Financing Activities
Net Debt Issuance (77) (517) (717) 71 (170) 6,413 (133) 586 (158) 584 46 (55) 337 873 (190) 786 (109) 353 (190) (1,997) (329) 2,905 (2,409) (680) (25) (907) 470 2,284 301 (46) 29 (122) 452 (241) 162 (11) (277) 49 (251) (77) 654 (34) (108) (118) (359) 338 (440) (15) 14 (15) (414) (313) 469 (439) 255 (632) (612) (563.5) (1,166.5) (1,146.1) (416.9) (23.3) 501.4 (109.2) (109.5) 1,090.4 (172.1) (400.2) 1,491.3 222.2 (553.4) 538.4 171.4 59.5 133.4 125.9 116.5 (107.5) 45.7 46.6 13.7 15.6 (10.3) 29.6 4.4 4.6 21.8 0.2 3
Stock Repurchased (344) 0 0 0 0 0 0 (12) (250) (312) (370) (270) (350) (439) (541) (270) (250) (350) (500) (250) (250) 0 0 0 (402) (1) (2) (180) (68) (254) (200) (300) (250) 0 (500) (250) (32) (225) (7) (254) (250) (295) (179) (99) (84) (24) (286) (193) (3) (68) (421) (61) (200) (300) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.7) (0.6)
Dividends Paid (385) (333) (332) (333) (336) (301) (301) (301) (307) (281) (283) (283) (289) (266) (267) (269) (275) (240) (241) (242) (247) (231) (230) (230) (236) (218) (218) (217) (223) (197) (199) (200) (206) (184) (185) (187) (194) (180) (182) (181) (183) (103) (119) (117) (95) (123) (6) (0.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (11.7) (0.1) (4.7) (78.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (41) 0 50 (8) (55) (65) (11) 0 (54) 13 1 8 11 7 18 (18) 33 23 36 1,509 24 (3) (37) (8) (5) 1,010 8 (107) 62 (3) 2 13 (57) 18 (24) (35) 118 (13) 43 37 (41) (46) (1) (64) (39) (32) (6) 2 (5) (4) (6) 0 0 0 (6) 0 (19) (6) 0 0.3 0.9 (9.1) (0.1) 141.1 24.1 (1.4) (6.5) (29.8) (645.3) 7.4 (258) (1.3) (80.9) (2.3) (2.4) (46.8) (97.4) (0.3) (0.6) 0.4 0.1 0.1 0 (0.1) 0 0 0 0 0
Financing Cash Flow (821) (843) (1,049) (245) (536) 6,058 (439) 273 (737) 1 (606) (600) (319) 175 (984) 228 (635) (214) (876) (980) (830) 2,685 (2,669) (907) (668) (116) 258 1,780 42 (493) (368) (609) (38) (407) (547) (474) (385) (369) (397) (475) 180 (461) (382) (372) (536) 238 (707) (194) 13 (85) (839) (372) 282 (729) 253 (624) (611) (550.7) (1,166.5) (1,145.8) (416.0) (31.9) 500.1 43.4 (85.4) 1,281.5 424.2 402.7 847.4 233.4 212.9 549.3 608.4 65 198.2 89.2 22.3 13.4 45.1 47 14.3 15.6 (10.1) 29.7 4.7 4.6 21.8 (0.5) 2.4
Cash Position
Net Change in Cash (52) (34) (244) 221 (156) (200) 441 (179) (127) 302 (13) (129) (53) 197 (745) 747 52 (11) (92) (309) (42) (165) (1,959) (465) (410) 627 678 2,027 132 (247) 11 (7) 133 (13) 3 2 62 2 (9) (65) 65 (181) 40 17 (136) 554 (388) (230) 372 117 (392) (64) 414 (424) 655 (321) (491) (50.8) 41.3 (43.9) (33.9) (40.5) 140.8 (37.6) (27.6) (85.3) (11.6) (1.3) (5.1) (11.9) 11.4 20.5 0 9.3 (18.9) 8.6 3.4 1.1 (29.6) 10.4 14.3 15.6 (10.1) 29.7 4.7 4.6 21.8 (0.5) 2.4
Cash at Beginning 297 235 552 331 487 687 246 425 552 250 263 392 445 248 993 246 194 205 297 606 648 813 2,772 3,237 3,647 3,020 2,342 315 183 430 419 426 293 35 32 30 32 30 39 104 39 481 441 424 689 135 523 753 381 264 656 720 306 730 75 396 887 144.8 103.5 147.4 181.4 221.9 81.1 59.4 86.9 0 0 0 51.2 0 5.2 0 23.5 0 0 0 13.2 0 0 0 6.6 0 0 0 3.2 0 0 0 11.7
Cash at End 245 201 308 552 331 487 687 246 425 552 250 263 392 445 248 993 246 194 205 297 606 648 813 2,772 3,237 3,647 3,020 2,342 315 183 430 419 426 22 35 32 94 32 30 39 104 300 481 441 553 689 135 523 753 381 264 656 720 306 730 75 396 94 144.8 103.5 147.4 181.4 221.9 21.8 59.3 (85.3) (11.6) (1.3) 46.1 (11.9) 16.6 20.5 23.5 9.3 (18.9) 8.6 16.6 1.1 (29.6) 10.4 20.9 15.6 (10.1) 29.7 7.9 4.6 21.8 (0.5) 14.1
Free Cash Flow 851 810 816 813 377 396 577 487 699 340 590 510 384 187 425 497 840 217 720 647 850 359 686 420 306 736 469 432 419 458 470 539 409 262 506 514 389 376 420 436 389 351 287 323 204 289 238 (84) 355 217 253 281 76 256 362 273 136 62.4 211.1 111.8 426.7 (160.1) (292.5) (286) (187.8) (800.5) 142.5 (502.8) (934.9) (1,718.8) 41.9 (59) (66.6) (80) (38.6) (24.3) (0.3) 12.6 (90.2) (33.2) (9.3) (6.8) (22.3) (5.6) (4.1) (5.2) 4.1 (8.5) (0.8)
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 6,227 6,313 6,443 6,430 6,018 5,893 5,609 5,402 5,159 5,217 5,198 5,119 4,892 4,935 5,075 5,027 4,661 4,678 4,665 4,476 4,112 4,067 3,861 3,561 3,729 3,846 3,967 3,946 3,696 3,842 3,822 3,739 3,511 3,652 3,716 3,677 3,440 3,460 3,548 3,425 3,176 3,246 3,360 3,315 3,040 3,437 3,602 3,561 3,396 3,500 3,621 3,526 3,336 3,434 3,461 3,459 3,295 3,406 3,522 3,347 3,103 3,187 3,235 3,158 2,935 3,006 3,023 2,952 2,810 3,108 3,525 3,489 3,266 3,361 3,403 3,358 3,188 3,283 3,441 3,410 3,229 3,372 3,375 3,289 3,038 3,208 3,274 3,138 2,896 2,968 2,915 2,812 2,825 2,791 2,915 2,719 2,884.3 3,124.6 3,265.7 3,217.3
Gross Profit 2,533 1,850 1,881 1,883 1,715 1,688 1,652 1,568 1,505 1,545 1,491 1,412 1,301 1,297 1,416 1,377 1,276 1,213 1,242 1,240 1,126 1,131 1,110 967 998 1,137 1,122 1,094 1,032 1,093 1,073 1,042 980 666 1,064 1,031 946 1,000 996 1,295 1,183 1,219 1,265 1,152 1,094 1,267 1,303 1,260 1,164 1,233 1,296 1,215 1,127 1,210 1,232 1,199 1,129 1,261 1,261 1,207 1,108 1,246 1,229 1,162 1,054 1,132 1,167 1,166 1,085 1,136 1,304 1,308 1,174 1,228 1,260 1,266 1,154 1,176 1,260 1,211 1,129 1,160 1,173 1,116 994 1,091 1,123 1,098 976 1,051 1,028 1,069 1,136 1,196 1,183 1,073 1,122.2 1,253.6 1,316.6 1,261.6
Operating Income 1,113 1,176 1,216 1,187 1,028 941 1,127 1,067 1,014 1,032 1,021 945 825 810 943 890 785 721 773 795 668 621 694 590 573 692 736 703 623 723 728 677 607 297 708 678 556 622 666 611 508 502 601 502 440 752 546 532 469 (410) 577 510 402 484 500 466 401 552 543 506 427 574 544 586 412 456 525 534 372 459 632 632 511 575 565 633 481 472 557 565 435 499 382 463 366 448 465 442 344 441 385 383 464 383 441 344 384.6 475.8 509.4 417.2
Net Income 723 742 603 726 637 598 760 680 708 493 663 615 533 499 639 587 513 506 538 351 421 438 390 307 361 447 495 381 347 531 499 499 396 903 386 362 298 335 302 287 258 273 335 274 (129) 590 270 210 228 (605) 291 244 168 224 214 208 171 266 272 237 186 281 244 246 182 315 277 247 155 218 310 318 241 309 278 338 222 246 300 417 186 290 215 527 150 269 302 216 152 183 176 236 217 158 191 124 38.5 (190.8) 0.3 55.0
EPS (Diluted) 1.79 1.83 1.49 1.80 1.58 1.48 1.88 1.69 1.75 1.22 1.63 1.51 1.30 1.21 1.54 1.41 1.23 1.20 1.28 0.83 0.99 1.03 0.92 0.72 0.85 1.05 1.16 0.89 0.81 1.24 1.16 1.15 0.91 2.06 0.87 0.81 0.67 0.75 0.68 0.64 0.58 0.61 0.74 0.60 -0.28 1.28 0.58 0.45 0.49 -1.30 0.62 0.52 0.36 0.48 0.46 0.45 0.37 0.57 0.58 0.50 0.39 0.59 0.51 0.51 0.37 0.65 0.56 0.50 0.31 0.44 0.63 0.64 0.48 0.62 0.54 0.64 0.42 0.47 0.55 0.76 0.34 0.53 0.38 0.92 0.26 0.47 0.52 0.37 0.26 0.31 0.30 0.39 0.35 0.25 0.30 0.20 0.06 -0.31 0.00 0.09
Balance Sheet
Cash & Equivalents 158 201 175 440 216 414 614 172 322 458 150 144 257 351 137 894 155 118 116 148 476 553 703 2,663 3,125 3,561 2,915 2,250 57 61 83 47 52 22 35 32 30 32 30 39 104 1,169 871 1,140 528 947 537 553 689 135 753 381 264 656 75 396 887 94 144.8 103.5 147.4 181.4 221.9 81 59.4 86.9 166.2 45 46.3 51.2 63.2 43.9 23.4 23.5 14.1 30.3 16.6 13.2 12 41.7 7.6 6.6 1.6 5.8 3.1 3.2 3.7 5.3 6.7
Total Assets 45,700 45,835 45,608 45,722 44,486 44,567 34,730 33,999 32,666 32,823 31,935 31,614 31,290 31,367 29,841 30,128 29,219 29,097 28,841 29,037 29,070 29,345 24,772 26,619 27,178 27,743 27,109 25,986 23,373 22,650 22,591 22,014 22,106 21,829 20,949 20,839 20,650 20,859 20,756 20,752 20,781 21,759 20,995 21,154 20,148 20,400 20,275 21,230 21,201 20,656 20,456 19,916 19,631 19,989 18,880 18,709 18,958 18,565 19,175.7 20,656.6 22,224.2 22,681.4 21,425 22,991.7 22,607.9 22,715.2 21,374.8 8,374.8 7,589.4 6,622.8 6,044.6 4,617.8 3,686.8 2,830.5 2,629 1,389.9 941.2 908 836.9 813.7 338.2 323.2 296.7 288.8 175 165.7 157.2 113.4 112.5
Total Debt 22,891 22,907 23,362 24,020 23,837 23,900 16,653 16,743 16,098 16,229 15,430 15,368 15,370 14,984 14,063 14,277 13,487 13,405 13,047 13,244 13,488 13,810 10,422 12,788 13,452 13,498 13,358 12,739 10,366 10,026 10,016 9,796 9,957 9,491 9,345 9,057 9,042 9,310 9,261 9,530 9,596 9,585 8,823 8,873 8,243 8,789 8,278 8,722 9,020 8,511 8,458 8,330 8,293 8,526 7,942 8,361 8,969 8,485 9,007.2 10,117.7 11,113.3 11,498 11,403.2 11,302 11,537.9 11,697.9 10,433.8 4,104.2 3,631.4 2,763.7 2,480.2 2,046.5 1,454.4 1,187 1,026.5 571.3 396.6 373.8 525.4 474 169.4 155.7 140.2 150.3 100.7 96.3 91.7 54.4 52.4
Stockholders' Equity 10,022 9,990 9,519 9,201 8,650 8,252 7,979 7,457 7,082 6,903 6,950 6,909 6,794 6,849 7,010 7,190 7,144 7,124 7,172 7,352 7,427 7,452 7,155 6,891 6,743 7,068 6,785 6,466 6,415 6,275 6,239 6,054 6,044 6,019 5,278 5,486 5,517 5,297 5,359 5,208 5,290 6,099 6,233 6,285 6,068 6,193 5,932 5,758 5,675 5,563 5,584 5,344 5,308 5,410 5,207 5,191 4,923 4,801 4,628.9 4,730.0 4,452.8 4,402.6 4,553 5,475.9 4,830.7 4,372.5 3,972.9 2,950.2 2,775.1 2,629 2,500.4 1,866.1 1,668.9 1,155.3 1,087.2 616.9 424 402.8 191.2 137.7 113.3 108 101.8 87.5 49.2 46.7 44.3 41.4 42
Cash Flow
Operating Cash Flow 1,501 1,698 1,592 1,545 1,208 1,511 1,358 1,154 1,367 1,382 1,263 1,030 1,044 1,049 1,182 1,047 1,258 991 1,184 1,043 1,120 753 1,029 856 765 1,022 952 1,010 890 912 874 975 809 790 856 813 721 753 753 748 706 623 595 508 549 470 640 213 644 429 626 643 448 436 847 642 466 462.3 560.3 427.2 675.2 397.2 507.6 410.5 374.3 205.1 1,247.6 14.2 35.1 261.6 136.1 54.9 0.2 21.9 131.9 37 14.4 41.3 (73) (4.2) 0.4 1.6 7.5 5.4 4.4 3.7 4.2 1 3.2
Capital Expenditure (650) (888) (776) (732) (831) (1,115) (781) (667) (668) (1,042) (673) (520) (660) (862) (757) (550) (418) (774) (464) (396) (270) (394) (343) (436) (459) (286) (483) (578) (471) (454) (404) (436) (400) (528) (350) (299) (332) (377) (333) (312) (317) (272) (308) (185) (345) (181) (402) (297) (289) (212) (373) (362) (372) (180) (485) (369) (330) (399.9) (349.2) (315.3) (248.6) (557.3) (800.1) (696.5) (562.1) (1,005.6) (1,105.1) (517) (970) (1,980.4) (94.2) (113.9) (66.8) (101.9) (170.5) (61.3) (14.7) (28.7) (17.2) (29) (9.7) (8.4) (29.8) (11) (8.5) (8.9) (0.1) (9.5) (4)
Free Cash Flow 851 810 816 813 377 396 577 487 699 340 590 510 384 187 425 497 840 217 720 647 850 359 686 420 306 736 469 432 419 458 470 539 409 262 506 514 389 376 420 436 389 351 287 323 204 289 238 (84) 355 217 253 281 76 256 362 273 136 62.4 211.1 111.8 426.7 (160.1) (292.5) (286) (187.8) (800.5) 142.5 (502.8) (934.9) (1,718.8) 41.9 (59) (66.6) (80) (38.6) (24.3) (0.3) 12.6 (90.2) (33.2) (9.3) (6.8) (22.3) (5.6) (4.1) (5.2) 4.1 (8.5) (0.8)