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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Ingredion Incorporated

Ticker: INGR | Industry: Packaged Foods | Sector: Consumer Defensive
$116.82 +0.96 (0.83%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric MRQ MRQ-1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997
Stock Price 122.11 135.62 130.98 126.50 103.65 88.44 91.52 78.21 87.61 108.63 125.02 123.56 85.20 75.94 68.48 56.63 49.73 37.12 26.44 36.85 41.19 31.81 23.45 23.28 15.69 15.27 15.13 12.80 14.70 15.68 14.71
Market Capitalization 7,851.67M 8,747.49M 8,440.07M 8,279.95M 6,835.28M 5,856.54M 6,136.16M 5,253.99M 5,861.25M 7,722.84M 9,001.98M 8,937.81M 6,102.36M 5,585.10M 5,271.24M 4,338.05M 3,802.13M 2,805.99M 1,978.78M 2,743.79M 3,074.45M 2,357.55M 1,751.37M 1,709.57M 1,129.22M 1,086.25M 1,068.00M 903.48M 1,081.85M 1,129.56M 1,052.92M
(-) Cash & Equivalents 915.00M 861.00M 871.00M 704.25M 302.25M 293.00M 470.00M 635.75M 314.75M 379.50M 490.50M 556.75M 596.50M 574.25M 571.75M 474.25M 305.00M 634.00M 150.50M 176.25M 203.75M 87.50M 107.00M 124.50M 53.25M 45.50M 37.25M 37.50M 45.50M 52.00M 42.50M
(+) Total Debt 1,798.00M 1,787.00M 1,789.67M 1,901.50M 2,476.75M 2,442.25M 2,310.00M 2,364.00M 2,143.75M 1,773.50M 1,926.00M 1,887.75M 2,135.00M 1,818.50M 1,795.75M 1,828.00M 1,831.50M 1,200.25M 720.00M 708.50M 680.00M 534.75M 542.50M 565.50M 613.50M 654.50M 784.50M 748.75M 492.75M 295.25M 348.50M
Enterprise Value 8,734.67M 9,673.49M 9,358.74M 9,477.20M 9,009.78M 8,005.79M 7,976.16M 6,982.24M 7,690.25M 9,116.84M 10,437.48M 10,268.81M 7,640.86M 6,829.35M 6,495.24M 5,691.80M 5,328.63M 3,372.24M 2,548.28M 3,276.04M 3,550.70M 2,804.80M 2,186.87M 2,150.57M 1,689.47M 1,695.25M 1,815.25M 1,614.73M 1,529.10M 1,372.81M 1,358.92M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31
Revenue 7,262M 7,551M 7,430M 8,160M 7,946M 6,894M 5,987M 6,209M 6,289M 6,180M 6,021M 5,958M 5,998M 6,653M 6,868M 6,219M 4,367M 3,672M 3,944M 3,391M 2,621M 2,360M 2,283M 2,102M 1,871M 1,887M 1,865M 1,735M 1,448M 1,418M
Cost of Revenue 5,415M 5,809M 5,639M 6,411M 6,452M 5,563M 4,715M 4,897M 4,921M 4,772M 4,681M 4,716M 4,883M 5,522M 5,630M 5,418M 3,908M 3,152M 3,239M 2,805M 2,205M 2,028M 1,929M 1,778M 1,604M 1,588M 1,559M 1,450M 1,182M 1,177M
Gross Profit 1,847M 1,742M 1,791M 1,749M 1,494M 1,331M 1,272M 1,312M 1,368M 1,408M 1,340M 1,242M 1,115M 1,131M 1,238M 801M 459M 520M 705M 586M 416M 332M 354M 324M 267M 299M 306M 285M 266M 241M
Gross Profit Margin 25.4% 23.1% 24.1% 21.4% 18.8% 19.3% 21.2% 21.1% 21.8% 22.8% 22.3% 20.8% 18.6% 17.0% 18.0% 12.9% 10.5% 14.2% 17.9% 17.3% 15.9% 14.1% 15.5% 15.4% 14.3% 15.8% 16.4% 16.4% 18.4% 17.0%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 579M 555M 525M 534M 556M 543M 370M 247M 275M 249M 202M 158M 158M 149M 134M 148M 135M 134M 101M 90M
Operating Expenses 886M 819M 908M 792M 732M 1,021M 690M 648M 665M 636M 595M 582M 534M 518M 570M 455M 385M 367M 271M 239M 192M 149M 175M 150M 114M 133M 150M 128M 196M 193M
Operating Income (EBIT) 961M 923M 883M 957M 762M 310M 582M 664M 703M 772M 745M 660M 581M 613M 668M 346M 74M 153M 434M 347M 224M 183M 179M 174M 153M 166M 156M 157M 70M 48M
Operating Income Margin 13.2% 12.2% 11.9% 11.7% 9.6% 4.5% 9.7% 10.7% 11.2% 12.5% 12.4% 11.1% 9.7% 9.2% 9.7% 5.6% 1.7% 4.2% 11.0% 10.2% 8.5% 7.8% 7.8% 8.3% 8.2% 8.8% 8.4% 9.0% 4.8% 3.4%
Interest Income 0M 0M 0M 0M 0M 0M 0M 7M 9M 11M 10M 14M 13M 11M 10M 5M 6M 1M 5M 9M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 37M 56M 39M 114M 99M 74M 81M 88M 81M 79M 73M 69M 73M 74M 77M 77M 64M 38M 43M 47M 31M 28M 59M 50M 28M 73M 87M 28M 2M 139M
Net Interest Income -37M -56M -39M -114M -99M -74M -81M -81M -72M -68M -63M -55M -60M -63M -67M -72M -58M -37M -38M -38M -31M -28M -59M -50M -28M -73M -87M -28M -2M -139M
Unusual Items -5M 88M 87M -4M 5M 12M 5M -1M -10M 65M 59M -7M -1M -3M -1M 319M 260M -1M 9M -4M 4M -7M 25M 11M -20M 9M 15M -7M 0M 0M
EBT Excluding Unusual Items 924M 867M 844M 843M 663M 236M 501M 583M 631M 704M 682M 605M 521M 550M 601M 274M 16M 116M 396M 309M 193M 155M 120M 124M 125M 93M 69M 129M 68M -91M
Pre-Tax Income 919M 955M 931M 839M 668M 248M 506M 582M 621M 769M 742M 599M 520M 547M 601M 593M 276M 115M 405M 305M 197M 148M 145M 135M 105M 102M 84M 122M 68M -91M
Pre-Tax Margin 12.7% 12.6% 12.5% 10.3% 8.4% 3.6% 8.5% 9.4% 9.9% 12.4% 12.3% 10.0% 8.7% 8.2% 8.7% 9.5% 6.3% 3.1% 10.3% 9.0% 7.5% 6.3% 6.4% 6.4% 5.6% 5.4% 4.5% 7.0% 4.7% -6.4%
Income Tax Expense 253M 265M 277M 188M 166M 123M 152M 158M 167M 237M 246M 187M 157M 144M 167M 171M 99M 69M 130M 102M 69M 56M 43M 49M 42M 36M 36M 45M 25M -19M
Net Income 659M 683M 647M 643M 492M 117M 348M 413M 443M 519M 485M 402M 355M 396M 428M 416M 169M 41M 267M 198M 124M 90M 94M 76M 63M 57M 48M 77M 43M -75M
Net Income Margin 9.1% 9.0% 8.7% 7.9% 6.2% 1.7% 5.8% 6.7% 7.0% 8.4% 8.1% 6.8% 5.9% 5.9% 6.2% 6.7% 3.9% 1.1% 6.8% 5.8% 4.7% 3.8% 4.1% 3.6% 3.4% 3.0% 2.6% 4.4% 3.0% -5.3%
Depreciation & Amortization 219M 214M 214M 219M 215M 220M 213M 220M 247M 209M 196M 194M 195M 194M 211M 211M 155M 130M 128M 125M 114M 106M 102M 101M 103M 127M 135M 122M 95M 103M
EBITDA 1,180M 1,137M 1,097M 1,176M 977M 530M 795M 884M 950M 981M 941M 854M 776M 807M 879M 557M 229M 283M 562M 472M 338M 289M 281M 275M 256M 293M 291M 279M 165M 151M
EBITDA Margin 16.2% 15.1% 14.8% 14.4% 12.3% 7.7% 13.3% 14.2% 15.1% 15.9% 15.6% 14.3% 12.9% 12.1% 12.8% 9.0% 5.2% 7.7% 14.2% 13.9% 12.9% 12.2% 12.3% 13.1% 13.7% 15.5% 15.6% 16.1% 11.4% 10.6%
NOPAT 696M 667M 620M 743M 573M 156M 407M 484M 514M 534M 499M 454M 406M 452M 482M 247M 47M 62M 295M 231M 146M 114M 126M 111M 92M 107M 89M 99M 44M 38M
NOPAT Margin 9.6% 8.8% 8.3% 9.1% 7.2% 2.3% 6.8% 7.8% 8.2% 8.6% 8.3% 7.6% 6.8% 6.8% 7.0% 4.0% 1.1% 1.7% 7.5% 6.8% 5.6% 4.8% 5.5% 5.3% 4.9% 5.7% 4.8% 5.7% 3.1% 2.7%
Owner's Earnings 747M 644M 560M 546M 407M 37M 221M 305M 341M 422M 398M 319M 279M 295M 335M 367M 168M 30M 176M 146M 67M 53M 92M 94M 88M 90M 40M -81M 16M -88M
Owner's Earnings Margin 10.3% 8.5% 7.5% 6.7% 5.1% 0.5% 3.7% 4.9% 5.4% 6.8% 6.6% 5.4% 4.6% 4.4% 4.9% 5.9% 3.9% 0.8% 4.5% 4.3% 2.6% 2.2% 4.0% 4.5% 4.7% 4.8% 2.1% -4.7% 1.1% -6.2%
EPS (Basic) 10.21 10.42 9.88 9.74 7.43 1.74 5.18 6.17 6.25 7.21 6.70 5.62 4.82 5.14 5.59 5.44 2.24 0.55 3.59 2.65 1.67 1.20 1.28 1.06 0.89 0.80 0.68 0.99 0.60 -1.05
EPS (Diluted) 10.02 10.25 9.71 9.60 7.34 1.73 5.15 6.13 6.17 7.06 6.54 5.51 4.74 5.05 5.47 5.32 2.20 0.54 3.52 2.59 1.64 1.19 1.26 1.05 0.88 0.80 0.68 1.03 0.60 -1.05
Shares (Basic) 65M 66M 66M 66M 66M 67M 67M 67M 71M 72M 72M 72M 74M 77M 77M 76M 76M 75M 75M 75M 74M 75M 73M 72M 71M 71M 71M 75M 72M 71M
Shares (Diluted) 66M 67M 67M 67M 67M 68M 68M 67M 72M 74M 74M 73M 75M 78M 78M 78M 77M 76M 76M 77M 76M 76M 75M 72M 71M 71M 71M 75M 72M 71M

Product Segments

Metric TTM TTM-1 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31
E M E A Segment 646.00M 591.00M 593.00M 592.00M 584.00M 556.00M 538.00M 530.00M 578.00M

Geographic Segments

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31
ARGENTINA 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 305.00M 356.00M 344.00M
Asia Pacific 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 816.00M 764.00M
Asia Pacific Segment 1,371.00M 1,094.00M 0.00M 1,089.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
BRAZIL 0.00M 0.00M 584.00M 0.00M 720.00M 586.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 670.00M 731.00M 841.00M
C 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 393.00M 390.00M 381.00M 385.00M 375.00M 417.00M 457.00M 0.00M 0.00M 0.00M
CANADA 0.00M 0.00M 527.00M 0.00M 512.00M 459.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 547.00M 564.00M 536.00M
COLOMBIA 0.00M 0.00M 310.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
EMEA 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 513.00M 530.00M
EMEA Segment 1,023.00M 768.00M 0.00M 821.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
GERMANY 0.00M 0.00M 385.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
K 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 268.00M 270.00M 286.00M 275.00M 266.00M 276.00M 295.00M 0.00M 0.00M 0.00M
KOREA, REPUBLIC OF 0.00M 0.00M 0.00M 0.00M 356.00M 323.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 301.00M 306.00M 284.00M
M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 984.00M 1,075.00M 997.00M 952.00M 955.00M 945.00M 955.00M 0.00M 0.00M 0.00M
MEXICO 0.00M 0.00M 1,503.00M 0.00M 1,444.00M 1,170.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,130.00M 1,143.00M 957.00M
North America 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 3,741.00M 3,356.00M
North America Segment 6,402.00M 4,761.00M 0.00M 5,188.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Countries 0.00M 0.00M 986.00M 0.00M 1,936.00M 1,847.00M 1,611.00M 1,627.00M 1,582.00M 1,510.00M 1,268.00M 1,296.00M 1,427.00M 1,405.00M 1,397.00M 1,394.00M
South America 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,462.00M 1,569.00M
South America Segment 1,351.00M 1,091.00M 0.00M 1,062.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
THAILAND 0.00M 0.00M 265.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
U 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 2,284.00M 2,368.00M 2,133.00M 2,191.00M 2,117.00M 1,983.00M 1,681.00M 0.00M 0.00M 0.00M
UNITED STATES 0.00M 0.00M 2,870.00M 0.00M 2,978.00M 2,509.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,970.00M 2,035.00M 1,863.00M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31
Cash & Cash Equivalents 915.00M 861.00M 997.00M 401.00M 236.00M 328.00M 665.00M 264.00M 327.00M 595.00M 512.00M 434.00M 580.00M 574.00M 609.00M 401.00M 302.00M 175.00M 107.00M 175.00M 131.00M 116.00M 101.00M 70.00M 36.00M 65.00M 41.00M 41.00M 36.00M 85.00M
Short-Term Investments 6.00M 7.00M 11.00M 8.00M 3.00M 4.00M 0.00M 4.00M 7.00M 9.00M 4.00M 6.00M 34.00M 0.00M 19.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 921.00M 868.00M 1,008.00M 409.00M 239.00M 332.00M 665.00M 268.00M 334.00M 604.00M 516.00M 440.00M 614.00M 574.00M 628.00M 401.00M 302.00M 175.00M 107.00M 175.00M 131.00M 116.00M 101.00M 70.00M 36.00M 65.00M 41.00M 41.00M 36.00M 85.00M
Net Receivables 1,312.00M 1,359.00M 1,093.00M 1,279.00M 1,411.00M 1,130.00M 1,011.00M 977.00M 951.00M 961.00M 923.00M 775.00M 762.00M 832.00M 814.00M 837.00M 735.00M 440.00M 627.00M 460.00M 357.00M 287.00M 291.00M 252.00M 244.00M 279.00M 274.00M 261.00M 224.00M 175.00M
Inventory 1,225.00M 1,223.00M 1,187.00M 1,450.00M 1,597.00M 1,172.00M 917.00M 861.00M 824.00M 823.00M 789.00M 715.00M 699.00M 723.00M 834.00M 769.00M 678.00M 394.00M 454.00M 427.00M 321.00M 258.00M 258.00M 215.00M 194.00M 201.00M 232.00M 212.00M 175.00M 123.00M
Other Current Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 48.00M 68.00M 65.00M 71.00M 18.00M 23.00M 99.00M 13.00M 16.00M 13.00M 0.00M 0.00M 0.00M 0.00M 0.00M 23.00M 30.00M 40.00M
Total Current Assets 3,458.00M 3,450.00M 3,288.00M 3,138.00M 3,247.00M 2,634.00M 2,593.00M 2,106.00M 2,109.00M 2,388.00M 2,228.00M 1,930.00M 2,123.00M 2,197.00M 2,341.00M 2,078.00M 1,733.00M 1,032.00M 1,287.00M 1,075.00M 825.00M 674.00M 650.00M 537.00M 474.00M 545.00M 547.00M 537.00M 465.00M 423.00M
Property, Plant & Equipment 2,435.00M 2,361.00M 2,264.00M 2,370.00M 2,407.00M 2,423.00M 2,455.00M 2,457.00M 2,198.00M 2,217.00M 2,116.00M 1,989.00M 2,073.00M 2,156.00M 2,193.00M 2,156.00M 2,123.00M 1,564.00M 1,447.00M 1,500.00M 1,356.00M 1,274.00M 1,211.00M 1,187.00M 1,154.00M 1,293.00M 1,407.00M 1,349.00M 1,298.00M 1,057.00M
Goodwill 0.00M 0.00M 906.00M 918.00M 900.00M 914.00M 902.00M 801.00M 791.00M 803.00M 784.00M 601.00M 478.00M 535.00M 557.00M 562.00M 635.00M 238.00M 351.00M 426.00M 381.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 1,273.00M 1,280.00M 358.00M 385.00M 401.00M 434.00M 444.00M 437.00M 460.00M 493.00M 502.00M 410.00M 290.00M 311.00M 329.00M 347.00M 364.00M 7.00M 8.00M 0.00M 0.00M 359.00M 353.00M 319.00M 280.00M 283.00M 313.00M 270.00M 129.00M 0.00M
Long-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 5.00M 11.00M 10.00M 10.00M 12.00M 10.00M 7.00M 13.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 23.00M 13.00M 10.00M 9.00M 7.00M 7.00M 4.00M 15.00M 21.00M 19.00M 71.00M 3.00M 4.00M 1.00M 1.00M 3.00M 42.00M 61.00M 59.00M 20.00M 2.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 609.00M 623.00M 561.00M 570.00M 544.00M 531.00M 387.00M 172.00M 131.00M 143.00M 121.00M 117.00M 91.00M 118.00M 122.00M 121.00M 113.00M 85.00M 93.00M 74.00M 70.00M 68.00M 77.00M 96.00M 90.00M 76.00M 62.00M 73.00M 54.00M 186.00M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 4,317.00M 4,264.00M 4,089.00M 4,243.00M 4,252.00M 4,302.00M 4,211.00M 3,880.00M 3,590.00M 3,665.00M 3,530.00M 3,124.00M 2,941.00M 3,146.00M 3,232.00M 3,215.00M 3,318.00M 1,907.00M 1,910.00M 2,014.00M 1,808.00M 1,704.00M 1,683.00M 1,663.00M 1,583.00M 1,672.00M 1,784.00M 1,692.00M 1,481.00M 1,243.00M
Total Assets 7,775.00M 7,714.00M 7,377.00M 7,381.00M 7,499.00M 6,936.00M 6,804.00M 5,986.00M 5,699.00M 6,053.00M 5,758.00M 5,054.00M 5,064.00M 5,343.00M 5,573.00M 5,293.00M 5,051.00M 2,939.00M 3,197.00M 3,089.00M 2,633.00M 2,378.00M 2,333.00M 2,200.00M 2,057.00M 2,217.00M 2,331.00M 2,229.00M 1,946.00M 1,666.00M
Accounts Payable 1,221.00M 666.00M 604.00M 778.00M 873.00M 774.00M 599.00M 504.00M 452.00M 493.00M 440.00M 423.00M 430.00M 458.00M 590.00M 529.00M 535.00M 319.00M 528.00M 382.00M 429.00M 263.00M 374.00M 200.00M 164.00M 143.00M 136.00M 109.00M 96.00M 90.00M
Short-Term Debt 57.00M 46.00M 44.00M 448.00M 543.00M 308.00M 438.00M 82.00M 169.00M 120.00M 106.00M 19.00M 23.00M 93.00M 76.00M 148.00M 88.00M 136.00M 206.00M 130.00M 74.00M 57.00M 88.00M 98.00M 84.00M 444.00M 267.00M 222.00M 250.00M 337.00M
Tax Payables 0.00M 0.00M 156.00M 97.00M 45.00M 44.00M 44.00M 52.00M 60.00M 59.00M 148.00M 81.00M 72.00M 46.00M 58.00M 67.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 0.00M 0.00M 124.00M 172.00M 112.00M 105.00M 96.00M 93.00M 81.00M 101.00M 107.00M 84.00M 74.00M 75.00M 92.00M 85.00M 12.00M 9.00M 0.00M 28.00M -104.00M 1.00M -113.00M 0.00M 0.00M 0.00M 0.00M 90.00M 59.00M 69.00M
Total Current Liabilities 1,278.00M 712.00M 928.00M 1,495.00M 1,573.00M 1,231.00M 1,177.00M 731.00M 762.00M 773.00M 801.00M 607.00M 599.00M 672.00M 816.00M 829.00M 635.00M 464.00M 734.00M 540.00M 399.00M 321.00M 349.00M 298.00M 248.00M 587.00M 403.00M 421.00M 405.00M 496.00M
Long-Term Debt 1,741.00M 1,741.00M 1,787.00M 1,740.00M 1,940.00M 1,738.00M 1,748.00M 1,765.00M 1,932.00M 1,743.00M 1,847.00M 1,812.00M 1,785.00M 1,704.00M 1,704.00M 1,782.00M 1,681.00M 408.00M 660.00M 519.00M 480.00M 471.00M 480.00M 452.00M 516.00M 312.00M 453.00M 322.00M 154.00M 13.00M
Capital Lease Obligations 0.00M 0.00M 204.00M 213.00M 194.00M 201.00M 136.00M 120.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 136.00M 116.00M 145.00M 165.00M 217.00M 195.00M 189.00M 199.00M 171.00M 135.00M 180.00M 207.00M 160.00M 199.00M 249.00M 111.00M 105.00M 133.00M 121.00M 128.00M 177.00M 210.00M 163.00M 186.00M 185.00M 180.00M 180.00M 128.00M
Other Non-Current Liabilities 548.00M 500.00M 205.00M 207.00M 186.00M 205.00M 227.00M 221.00M 253.00M 264.00M 191.00M 201.00M 192.00M 200.00M 336.00M 277.00M 248.00M 164.00M 177.00M 151.00M 178.00M 139.00M 149.00M 185.00M 153.00M 50.00M 47.00M 63.00M 63.00M 37.00M
Total Non-Current Liabilities 2,289.00M 2,241.00M 2,332.00M 2,276.00M 2,465.00M 2,309.00M 2,328.00M 2,301.00M 2,374.00M 2,206.00M 2,209.00M 2,148.00M 2,157.00M 2,111.00M 2,200.00M 2,258.00M 2,178.00M 683.00M 942.00M 803.00M 779.00M 738.00M 806.00M 847.00M 832.00M 548.00M 685.00M 565.00M 397.00M 178.00M
Total Liabilities 3,567.00M 2,953.00M 3,260.00M 3,771.00M 4,038.00M 3,540.00M 3,505.00M 3,032.00M 3,136.00M 2,979.00M 3,010.00M 2,755.00M 2,756.00M 2,783.00M 3,016.00M 3,087.00M 2,813.00M 1,147.00M 1,676.00M 1,343.00M 1,178.00M 1,059.00M 1,155.00M 1,145.00M 1,080.00M 1,135.00M 1,088.00M 986.00M 802.00M 674.00M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 1.00M 0.00M 0.00M
Retained Earnings 5,497.00M 5,380.00M 5,092.00M 4,654.00M 4,210.00M 3,899.00M 3,957.00M 3,780.00M 3,536.00M 3,259.00M 2,899.00M 2,552.00M 2,275.00M 2,045.00M 1,769.00M 1,412.00M 1,046.00M 919.00M 921.00M 694.00M 528.00M 429.00M 360.00M 285.00M 224.00M 175.00M 132.00M 101.00M 37.00M 0.00M
Accumulated OCI -950.00M -953.00M -1,086.00M -1,056.00M -1,048.00M -897.00M -1,133.00M -1,158.00M -1,154.00M -1,013.00M -1,071.00M -1,098.00M -782.00M -583.00M -475.00M -413.00M -190.00M -308.00M -595.00M -115.00M -223.00M -252.00M -323.00M -346.00M -422.00M -336.00M -186.00M -122.00M -1,355.00M -1,141.00M
Minority Interest 28.00M 28.00M 26.00M 57.00M 67.00M 89.00M 91.00M 21.00M 20.00M 26.00M 30.00M 36.00M 30.00M 25.00M 22.00M 29.00M 26.00M 23.00M 22.00M 21.00M 19.00M 17.00M 18.00M 78.00M 93.00M 147.00M 208.00M 199.00M 91.00M 6.00M
Total Shareholders’ Equity 4,548.00M 4,428.00M 4,007.00M 3,599.00M 3,163.00M 3,003.00M 2,825.00M 2,623.00M 2,383.00M 2,247.00M 1,829.00M 1,455.00M 1,494.00M 1,463.00M 1,295.00M 1,000.00M 857.00M 612.00M 327.00M 580.00M 306.00M 178.00M 38.00M -60.00M -197.00M -160.00M -53.00M -20.00M -1,318.00M -1,141.00M
Total Equity 4,576.00M 4,456.00M 4,033.00M 3,656.00M 3,230.00M 3,092.00M 2,916.00M 2,644.00M 2,403.00M 2,273.00M 1,859.00M 1,491.00M 1,524.00M 1,488.00M 1,317.00M 1,029.00M 883.00M 635.00M 349.00M 601.00M 325.00M 195.00M 56.00M 18.00M -104.00M -13.00M 155.00M 179.00M -1,227.00M -1,135.00M
Total Liabilities & Equity 8,143.00M 7,409.00M 7,293.00M 7,427.00M 7,268.00M 6,632.00M 6,421.00M 5,676.00M 5,539.00M 5,252.00M 4,869.00M 4,246.00M 4,280.00M 4,271.00M 4,333.00M 4,116.00M 3,696.00M 1,782.00M 2,025.00M 1,944.00M 1,503.00M 1,254.00M 1,211.00M 1,163.00M 976.00M 1,122.00M 1,243.00M 1,165.00M -425.00M -461.00M
Tangible Assets 6,502.00M 6,434.00M 6,113.00M 6,078.00M 6,198.00M 5,588.00M 5,458.00M 4,748.00M 4,448.00M 4,757.00M 4,472.00M 4,043.00M 4,296.00M 4,497.00M 4,687.00M 4,384.00M 4,052.00M 2,694.00M 2,838.00M 2,663.00M 2,252.00M 2,019.00M 1,980.00M 1,881.00M 1,777.00M 1,934.00M 2,018.00M 1,959.00M 1,817.00M 1,666.00M
Tangible Equity 3,303.00M 3,176.00M 2,769.00M 2,353.00M 1,929.00M 1,744.00M 1,570.00M 1,406.00M 1,152.00M 977.00M 573.00M 480.00M 756.00M 642.00M 431.00M 120.00M -116.00M 390.00M -10.00M 175.00M -56.00M -164.00M -297.00M -301.00M -384.00M -296.00M -158.00M -91.00M -1,356.00M -1,135.00M
Tangible Book Value 3,303.00M 3,176.00M 2,769.00M 2,353.00M 1,929.00M 1,744.00M 1,570.00M 1,406.00M 1,152.00M 977.00M 573.00M 480.00M 756.00M 642.00M 431.00M 120.00M -116.00M 390.00M -10.00M 175.00M -56.00M -164.00M -297.00M -301.00M -384.00M -296.00M -158.00M -91.00M -1,356.00M -1,135.00M
Total Investments 6.00M 7.00M 11.00M 8.00M 3.00M 4.00M 0.00M 4.00M 7.00M 9.00M 4.00M 6.00M 39.00M 11.00M 29.00M 10.00M 12.00M 10.00M 7.00M 13.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt 883.00M 926.00M 834.00M 1,787.00M 2,247.00M 1,718.00M 1,521.00M 1,583.00M 1,774.00M 1,268.00M 1,441.00M 1,397.00M 1,228.00M 1,223.00M 1,171.00M 1,529.00M 1,467.00M 369.00M 759.00M 474.00M 423.00M 412.00M 467.00M 480.00M 564.00M 691.00M 679.00M 503.00M 368.00M 265.00M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31
Working Capital 2,238.0M 2,253.0M 2,074.0M 1,627.0M 1,427.0M 1,185.0M 1,189.0M 1,193.0M 1,192.0M 1,458.0M 1,274.0M 1,208.0M 1,423.0M 1,394.0M 1,427.0M 1,176.0M 862.0M 480.0M 438.0M 415.0M 320.0M 261.0M 199.0M 153.0M 138.0M -120.0M 69.0M 116.0M 60.0M -73.0M
Total Capital 6,036.0M 6,035.0M 5,899.0M 5,994.0M 5,872.0M 5,383.0M 5,349.0M 4,759.0M 4,489.0M 4,754.0M 4,518.0M 3,975.0M 3,985.0M 4,201.0M 4,217.0M 4,034.0M 3,745.0M 2,225.0M 2,250.0M 2,254.0M 1,884.0M 1,738.0M 1,649.0M 1,461.0M 1,370.0M 1,613.0M 1,680.0M 1,574.0M 1,457.0M 1,336.0M
Capital Employed 6,555.0M 6,517.0M 6,163.0M 5,870.0M 5,679.0M 5,487.0M 5,400.0M 5,073.0M 4,782.0M 5,123.0M 4,804.0M 4,332.0M 4,370.0M 4,540.0M 4,659.0M 4,391.0M 4,180.0M 2,387.0M 2,348.0M 2,429.0M 2,145.0M 1,965.0M 1,905.0M 1,816.0M 1,668.0M 1,552.0M 1,853.0M 1,791.0M 1,541.0M 1,170.0M
Invested Capital 5,121.0M 5,174.0M 4,902.0M 5,593.0M 5,636.0M 5,055.0M 4,684.0M 4,495.0M 4,162.0M 4,159.0M 4,006.0M 3,541.0M 3,405.0M 3,627.0M 3,608.0M 3,633.0M 3,443.0M 2,050.0M 2,143.0M 2,079.0M 1,753.0M 1,622.0M 1,548.0M 1,391.0M 1,334.0M 1,548.0M 1,639.0M 1,533.0M 1,421.0M 1,251.0M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31
Net Income 664.00M 683.00M 647.00M 643.00M 502.00M 117.00M 348.00M 413.00M 454.00M 532.00M 496.00M 412.00M 363.00M 403.00M 433.00M 423.00M 176.00M 47.00M 267.00M 198.00M 124.00M 90.00M 94.00M 76.00M 63.00M 57.00M 48.00M 77.00M 43.00M -72.00M
Depreciation & Amortization 219.00M 214.00M 214.00M 219.00M 215.00M 220.00M 213.00M 220.00M 247.00M 209.00M 196.00M 194.00M 195.00M 194.00M 211.00M 211.00M 155.00M 130.00M 128.00M 125.00M 114.00M 106.00M 102.00M 101.00M 103.00M 127.00M 135.00M 122.00M 95.00M 103.00M
Deferred Income Tax 2.00M 0.00M -15.00M -6.00M -3.00M 0.00M 0.00M 0.00M -23.00M 67.00M -5.00M -6.00M -11.00M 30.00M -3.00M 18.00M -30.00M -5.00M 12.00M 7.00M -6.00M -16.00M -9.00M 4.00M -6.00M 2.00M 15.00M 7.00M 10.00M 10.00M
Stock-Based Compensation -5.00M 40.00M 46.00M 20.00M 29.00M 23.00M 23.00M 18.00M 21.00M 26.00M 28.00M 21.00M 19.00M 17.00M 18.00M 0.00M 6.00M 5.00M 5.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 9.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -212.00M 448.00M 470.00M 62.00M -664.00M -506.00M 26.00M -105.00M -118.00M -121.00M -8.00M -24.00M 84.00M -57.00M 33.00M -304.00M 45.00M 257.00M -458.00M -59.00M -29.00M 60.00M -48.00M 46.00M 53.00M -18.00M -4.00M -8.00M -58.00M 54.00M
Accounts Receivable 35.00M 196.00M 148.00M 77.00M -310.00M -162.00M -3.00M -61.00M -70.00M -44.00M -131.00M -29.00M -15.00M -69.00M 22.00M -134.00M -45.00M -3.00M -43.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -1.00M 237.00M 228.00M 69.00M -468.00M -312.00M -14.00M -43.00M -50.00M -34.00M -19.00M 9.00M -6.00M 76.00M -69.00M -149.00M -51.00M 82.00M -91.00M -86.00M -57.00M 5.00M -34.00M -11.00M -6.00M 20.00M -12.00M -28.00M -32.00M 34.00M
Accounts Payable -26.00M 0.00M 20.00M -79.00M 158.00M 0.00M 0.00M 0.00M -3.00M -49.00M 150.00M 20.00M 21.00M -7.00M 47.00M 283.00M 96.00M -79.00M -29.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital -220.00M 15.00M 74.00M -5.00M -44.00M -32.00M 43.00M -1.00M 5.00M 6.00M -8.00M -24.00M 84.00M -57.00M 33.00M -304.00M 45.00M 257.00M -295.00M 27.00M 28.00M 55.00M -14.00M 57.00M 59.00M -38.00M 8.00M 20.00M -26.00M 20.00M
Other Non-Cash Items 307.00M 25.00M 74.00M 119.00M 73.00M 538.00M 219.00M 134.00M 142.00M 73.00M 87.00M 104.00M 56.00M 79.00M 31.00M 12.00M 42.00M 152.00M -33.00M 1.00M 4.00M 5.00M 27.00M 9.00M -7.00M 3.00M 18.00M 0.00M 0.00M 120.00M
Net Cash from Operating Activities 975.00M 1,410.00M 1,436.00M 1,057.00M 152.00M 392.00M 829.00M 680.00M 703.00M 769.00M 771.00M 686.00M 731.00M 619.00M 732.00M 300.00M 394.00M 586.00M -79.00M 258.00M 230.00M 245.00M 166.00M 236.00M 206.00M 171.00M 212.00M 198.00M 90.00M 215.00M
Capital Expenditures (PPE) -131.00M -253.00M -301.00M -316.00M -300.00M -300.00M -340.00M -328.00M -349.00M -306.00M -283.00M -277.00M -271.00M -295.00M -304.00M -260.00M -156.00M -141.00M -219.00M -177.00M -171.00M -143.00M -104.00M -83.00M -78.00M -94.00M -143.00M -280.00M -122.00M -116.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M -29.00M -40.00M -236.00M -42.00M -15.00M -17.00M -409.00M -434.00M -5.00M 0.00M 0.00M -15.00M -1,272.00M -4.00M 0.00M -59.00M -42.00M -5.00M -68.00M -48.00M -42.00M -79.00M -120.00M 0.00M 0.00M 0.00M
Purchases of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.00M -3.00M -1.00M -3.00M -34.00M 0.00M -18.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.00M -8.00M 1.00M 27.00M 11.00M 19.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 21.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities -297.00M 245.00M 254.00M -13.00M 9.00M 5.00M 5.00M -4.00M 1.00M 8.00M 3.00M 38.00M 5.00M 2.00M -9.00M 2.00M 0.00M -4.00M 0.00M 4.00M 3.00M 7.00M 1.00M 1.00M 47.00M 2.00M 1.00M 9.00M 62.00M -17.00M
Net Cash from Investing Activities -428.00M -8.00M -47.00M -329.00M -320.00M -335.00M -571.00M -374.00M -361.00M -326.00M -689.00M -649.00M -294.00M -274.00M -322.00M -273.00M -1,428.00M -145.00M -219.00M -232.00M -210.00M -141.00M -149.00M -130.00M -73.00M -171.00M -262.00M -271.00M -60.00M -133.00M
Net Debt Issuance -43.00M -225.00M -345.00M -292.00M 433.00M -390.00M 326.00M -256.00M 249.00M -96.00M 120.00M 22.00M 18.00M -32.00M -150.00M 160.00M 1,212.00M -332.00M 257.00M 83.00M 16.00M -44.00M 6.00M -58.00M -144.00M 46.00M 132.00M 100.00M -96.00M 0.00M
Long-Term Debt Issuance -43.00M -225.00M -18.00M -229.00M 293.00M -390.00M 326.00M -256.00M 249.00M -1,240.00M 126.00M 22.00M 18.00M -32.00M -155.00M 160.00M 1,212.00M -332.00M 257.00M 83.00M 16.00M -44.00M 6.00M -58.00M -144.00M 46.00M 132.00M 100.00M -96.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M -327.00M -63.00M 140.00M 0.00M 0.00M 0.00M 987.00M 1,144.00M 1,000.00M 1,388.00M 231.00M 0.00M 5.00M 182.00M 1,289.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -287.00M -87.00M -216.00M -101.00M -112.00M -68.00M 0.00M 0.00M -657.00M -123.00M 21.00M -20.00M -284.00M -214.00M 16.00M -30.00M 17.00M 1.00M 10.00M -39.00M -2.00M -25.00M 30.00M 5.00M 4.00M 4.00M -44.00M -19.00M -1.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.00M 9.00M 29.00M 21.00M 20.00M 14.00M 34.00M 18.00M 22.00M 4.00M 11.00M 16.00M 21.00M 0.00M 30.00M 5.00M 4.00M 4.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -287.00M -87.00M -216.00M -101.00M -112.00M -68.00M 0.00M 0.00M -657.00M -123.00M -8.00M -41.00M -304.00M -228.00M -18.00M -48.00M -5.00M -3.00M -1.00M -55.00M -23.00M -25.00M 0.00M 0.00M 0.00M 0.00M -44.00M -19.00M -1.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -211.00M -207.00M -210.00M -194.00M -181.00M -184.00M -170.00M -174.00M -173.00M -165.00M -141.00M -126.00M -128.00M -112.00M -69.00M -50.00M -45.00M -45.00M -42.00M -33.00M -26.00M -22.00M -23.00M -20.00M -19.00M -23.00M -14.00M -13.00M -3.00M 0.00M
Common Dividends Paid -211.00M -207.00M -210.00M -194.00M -181.00M -184.00M -170.00M -174.00M -182.00M -165.00M -141.00M -126.00M -128.00M -112.00M -69.00M -50.00M -45.00M -42.00M -38.00M -29.00M -26.00M -22.00M -23.00M -20.00M -19.00M -23.00M -14.00M -13.00M -3.00M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 3.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 37.00M -350.00M 6.00M 18.00M -37.00M 269.00M -13.00M 66.00M 1.00M 9.00M -6.00M 8.00M 6.00M 5.00M 6.00M 6.00M -32.00M -2.00M 1.00M 0.00M 6.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 21.00M -29.00M
Net Cash from Financing Activities -504.00M -869.00M -765.00M -569.00M 103.00M -373.00M 143.00M -364.00M -589.00M -375.00M 0.00M -116.00M -388.00M -353.00M -197.00M 86.00M 1,155.00M -375.00M 230.00M 15.00M -6.00M -91.00M 13.00M -73.00M -159.00M 27.00M 50.00M 75.00M -79.00M -29.00M
Effect of FX on Cash -5.00M 9.00M -28.00M 6.00M -27.00M -21.00M 0.00M -5.00M -21.00M 15.00M -4.00M -67.00M -43.00M -27.00M -5.00M -14.00M 6.00M 2.00M 0.00M 3.00M 1.00M 2.00M 1.00M 1.00M -3.00M -3.00M 0.00M 3.00M 0.00M 0.00M
Net Change in Cash 38.00M 542.00M 596.00M 165.00M -92.00M -337.00M 401.00M -63.00M -268.00M 83.00M 78.00M -146.00M 6.00M -35.00M 208.00M 99.00M 127.00M 68.00M -68.00M 44.00M 15.00M 15.00M 31.00M 34.00M -29.00M 24.00M 0.00M 5.00M -49.00M 53.00M
Cash at Beginning of Period 3,572.00M 1,679.00M 401.00M 236.00M 328.00M 665.00M 264.00M 327.00M 595.00M 512.00M 434.00M 580.00M 574.00M 609.00M 401.00M 302.00M 175.00M 107.00M 175.00M 131.00M 116.00M 101.00M 70.00M 36.00M 65.00M 41.00M 41.00M 36.00M 85.00M 32.00M
Cash at End of Period 3,610.00M 2,221.00M 997.00M 401.00M 236.00M 328.00M 665.00M 264.00M 327.00M 595.00M 512.00M 434.00M 580.00M 574.00M 609.00M 401.00M 302.00M 175.00M 107.00M 175.00M 131.00M 116.00M 101.00M 70.00M 36.00M 65.00M 41.00M 41.00M 36.00M 85.00M
Operating Cash Flow 975.00M 1,410.00M 1,436.00M 1,057.00M 152.00M 392.00M 829.00M 680.00M 703.00M 769.00M 771.00M 686.00M 731.00M 619.00M 732.00M 300.00M 394.00M 586.00M -79.00M 258.00M 230.00M 245.00M 166.00M 236.00M 206.00M 171.00M 212.00M 198.00M 90.00M 215.00M
Capital Expenditure -131.00M -253.00M -301.00M -316.00M -300.00M -300.00M -340.00M -328.00M -349.00M -306.00M -283.00M -277.00M -271.00M -295.00M -304.00M -260.00M -156.00M -141.00M -219.00M -177.00M -171.00M -143.00M -104.00M -83.00M -78.00M -94.00M -143.00M -280.00M -122.00M -116.00M
Free Cash Flow 844.00M 1,157.00M 1,135.00M 741.00M -148.00M 92.00M 489.00M 352.00M 354.00M 463.00M 488.00M 409.00M 460.00M 324.00M 428.00M 40.00M 238.00M 445.00M -298.00M 81.00M 59.00M 102.00M 62.00M 153.00M 128.00M 77.00M 69.00M -82.00M -32.00M 99.00M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31
EBITDA 2,066.00M 1,956.00M 2,005.00M 1,968.00M 1,709.00M 1,551.00M 1,485.00M 1,532.00M 1,615.00M 1,617.00M 957.40M 881.30M 785.10M 791.10M 893.10M 469.40M 243.60M 403.00M 557.60M 462.00M 328.00M 280.00M 298.00M 276.00M 236.00M 278.00M 306.00M 273.00M 260.00M 254.00M
(-) Tax Adjustment 568.77M 542.76M 596.55M 440.98M 424.69M 542.85M 446.09M 415.90M 434.31M 498.35M 317.11M 275.17M 236.69M 208.34M 248.78M 134.95M 85.26M 141.05M 178.52M 154.50M 114.80M 98.00M 88.37M 96.60M 82.60M 97.30M 107.10M 95.55M 91.00M 53.03M
(-) Change In Working Capital -212.00M 448.00M 470.00M 62.00M -664.00M -506.00M 26.00M -105.00M -118.00M -121.00M -8.00M -24.00M 84.00M -57.00M 33.00M -304.00M 45.00M 257.00M -458.00M -59.00M -29.00M 60.00M -48.00M 46.00M 53.00M -18.00M -4.00M -8.00M -58.00M 54.00M
(-) Capital Expenditure -131.00M -253.00M -301.00M -316.00M -300.00M -300.00M -340.00M -328.00M -349.00M -306.00M -283.00M -277.00M -271.00M -295.00M -304.00M -260.00M -156.00M -141.00M -219.00M -177.00M -171.00M -143.00M -104.00M -83.00M -78.00M -94.00M -143.00M -280.00M -122.00M -116.00M
Unlevered Free Cash Flow 1,192.23M 712.24M 637.45M 1,149.02M 1,648.31M 1,214.15M 672.91M 893.10M 949.69M 933.65M 365.29M 353.13M 193.41M 344.76M 307.32M 378.45M -42.66M -136.05M 618.08M 189.50M 71.20M -21.00M 153.63M 50.40M 22.40M 104.70M 59.90M -94.55M 105.00M 30.97M
(-) Net Interest Income After Taxes -26.81M -40.46M -27.40M -88.46M -74.40M -48.10M -56.67M -59.01M -52.64M -47.04M -42.13M -37.83M -41.91M -46.41M -48.34M -51.59M -37.70M -23.79M -25.83M -25.29M -20.15M -18.20M -41.50M -32.50M -18.20M -47.45M -56.55M -18.20M -1.30M -109.98M
Net Debt Issuance -43.00M -225.00M -345.00M -292.00M 433.00M -390.00M 326.00M -256.00M 249.00M -96.00M 120.00M 22.00M 18.00M -32.00M -150.00M 160.00M 1,212.00M -332.00M 257.00M 83.00M 16.00M -44.00M 6.00M -58.00M -144.00M 46.00M 132.00M 100.00M -96.00M 0.00M
Levered Free Cash Flow 1,176.05M 527.70M 319.85M 945.47M 2,155.71M 872.25M 1,055.58M 696.11M 1,251.33M 884.70M 527.42M 412.96M 253.32M 359.17M 205.66M 590.03M 1,207.04M -444.26M 900.91M 297.79M 107.35M -46.80M 201.13M 24.90M -103.40M 198.15M 248.45M 23.65M 10.30M 140.95M