Artisan Partners Asset Management Inc. (APAM)
Artisan Partners Asset Management Inc. (APAM) operates as a publicly traded investment management firm. It offers investment services to a diverse clientele, including various institutional investors like pension plans, endowments, foundations, charitable organizations, and government entities, as well as managing assets for private, mutual, and collective funds, both domestically and internationally. The firm specializes in creating and managing individualized equity and fixed income portfolios for its clients. Its investment approach spans public equity and fixed income markets worldwide. Within equities, Artisan Partners targets both growth and value opportunities across companies of all market capitalizations. For fixed income, the firm's strategy includes investments in non-investment grade corporate bonds and various secured and unsecured loans. A core tenet of its portfolio construction is the application of fundamental analysis. Established in 1994, Artisan Partners is headquartered in Milwaukee, Wisconsin, and maintains additional operational bases in Atlanta, Georgia; New York City; San Francisco, California; Leawood, Kansas; and London, United Kingdom.
Sector: Investment Advice
Industry: Asset Management
Artisan Partners Asset Management Inc.
NYSE:APAMFinancial Services · Asset Management
-0.69%$33.34
AH Close$33.34+0.00%vs close
AH Close$33.34+0.00%vs close
Mkt Cap$2.7B
Float63.09M
O/S81.07M
Inst Own85.6%
SI4.7%
Div Yield12.09%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.2B
Net Income$290.32M
Total Assets$1.58B
Free Cash Flow$171.31M
Debt & Equity
Debt 41%
Equity 59%
Total Debt$310.02M
Total Equity$438.83M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in APAM's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.58B
Liabilities$794.87M
Accounts Receivable$165.22M
Accounts Payable$46.39M
Inventory$0
PP&E (Net)$138.3M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 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 |
| Revenue | $1.2B | $1.11B | $975.13M | $993.28M | $1.23B | $899.57M | $798.95M | $828.63M | $795.62M | $720.86M | $805.47M | $828.7M | $685.84M | $505.58M | $455.09M | $382.29M | $296.18M | $357.02M |
| YoY Growth | 7.6% | 14.0% | -1.8% | -19.1% | 36.4% | 12.6% | -3.6% | 4.1% | 10.4% | -10.5% | -2.8% | 20.8% | 35.7% | 11.1% | 19.0% | 29.1% | -17.0% | - |
| Cost of Revenue | $649.58M | $594.13M | $529.39M | $510.4M | $563.05M | $435.82M | $399.94M | $413.17M | $402.88M | $383.9M | $414.24M | $414.97M | $856.36M | $383.09M | $233.23M | $263.28M | $0 | $357.02M |
| Gross Profit | $547.1M | $517.68M | $445.74M | $482.88M | $664.18M | $463.75M | $399.01M | $415.47M | $392.74M | $336.96M | $391.23M | $413.74M | -$170.52M | $122.48M | $221.86M | $119.01M | $296.18M | $0 |
| Gross Margin | 45.7% | 46.6% | 45.7% | 48.6% | 54.1% | 51.6% | 49.9% | 50.1% | 49.4% | 46.7% | 48.6% | 49.9% | -24.9% | 24.2% | 48.8% | 31.1% | 100.0% | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $147.48M | $151.05M | $142.14M | $138.8M | $124.21M | $105.42M | $115M | $110.53M | $106.33M | $102.8M | $108.85M | $106.83M | $90.69M | $75.4M | $67.57M | $53.81M | $223.08M | $0 |
| Other | $0 | $0 | $0 | $0 | -$518K | $0 | $41K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $147.48M | $151.05M | $142.14M | $138.8M | $123.69M | $105.42M | $115.04M | $110.53M | $106.33M | $102.8M | $108.85M | $106.83M | $90.69M | $75.4M | $67.57M | $53.81M | $223.08M | $0 |
| Operating Income (EBIT) | $399.63M | $366.63M | $303.59M | $344.1M | $540.49M | $358.32M | $283.45M | $304.94M | $286.41M | $234.23M | $282.38M | $306.9M | -$261.2M | $47.09M | $154.29M | $65.2M | $73.1M | $182.37M |
| Operating Margin | 33.4% | 33.0% | 31.1% | 34.6% | 44.0% | 39.8% | 35.5% | 36.8% | 36.0% | 32.5% | 35.1% | 37.0% | -38.1% | 9.3% | 33.9% | 17.1% | 24.7% | 51.1% |
| Interest Expense | $8.55M | $8.61M | $8.57M | $9.91M | $10.8M | $10.8M | $11.1M | $11.22M | $11.45M | $11.65M | $11.71M | $11.57M | $11.87M | $11.44M | $18.39M | $22.96M | $24.94M | $0 |
| Interest Income | $11.85M | $9.61M | $6.3M | $333K | $559K | $0 | $46K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32K | $70K | $948K |
| Other Income (Expense) | $89.51M | $73.92M | $80.1M | -$32.26M | $11.06M | $10.97M | -$14.19M | -$3.15M | $284.83M | -$9.75M | -$23.51M | -$15.36M | $53.46M | -$3.46M | -$23.16M | -$21.39M | -$24.87M | $948K |
| Income Before Tax (EBT) | $489.14M | $440.55M | $383.69M | $311.83M | $551.55M | $369.3M | $269.27M | $301.79M | $571.25M | $224.48M | $258.88M | $291.54M | -$207.74M | $43.62M | $131.13M | $43.81M | $48.23M | $183.32M |
| Income Tax Expense | $111.25M | $90.9M | $71.89M | $63.45M | $107.03M | $60.8M | $27.81M | $47.6M | $420.51M | $51.48M | $46.77M | $48.83M | $26.39M | $1.05M | $1.16M | $1.28M | $0 | $0 |
| Net Income | $290.32M | $259.75M | $222.29M | $206.75M | $336.52M | $212.62M | $156.54M | $158.31M | $49.6M | $73.03M | $81.8M | $69.63M | $24.81M | $33.76M | $133.07M | $42.53M | $48.23M | $183.32M |
| Net Income Margin | 24.3% | 23.4% | 22.8% | 20.8% | 27.4% | 23.6% | 19.6% | 19.1% | 6.2% | 10.1% | 10.2% | 8.4% | 3.6% | 6.7% | 29.2% | 11.1% | 16.3% | 51.3% |
| Supplementary Data | ||||||||||||||||||
| EPS | 4.05 | 3.66 | 3.19 | 2.94 | 5.10 | 3.40 | 2.65 | 2.84 | 0.75 | 1.57 | 1.86 | -0.37 | -0.63 | 0.83 | 1.98 | 0.65 | 0.73 | 2.79 |
| Diluted EPS | 4.05 | 3.66 | 3.19 | 2.94 | 5.09 | 3.40 | 2.65 | 2.84 | 0.75 | 1.57 | 1.86 | -0.37 | -0.63 | 0.83 | 1.98 | 0.65 | 0.73 | 2.79 |
| Weighted Average OS | 65.60M | 64.90M | 63.45M | 62.48M | 59.87M | 55.63M | 51.13M | 48.86M | 44.65M | 38.14M | 35.45M | 27.51M | 19.81M | 40.53M | 65.77M | 65.77M | 65.77M | 65.77M |
| EBITDA | $488.97M | $459.02M | $401.61M | $329.54M | $569.29M | $386.73M | $286.55M | $318.68M | $587.99M | $239.51M | $275.2M | $306.37M | -$192.65M | $57.47M | $151.88M | $69.06M | $75.56M | $184.46M |
| EBITDA Margin | 40.9% | 41.3% | 41.2% | 33.2% | 46.4% | 43.0% | 35.9% | 38.5% | 73.9% | 33.2% | 34.2% | 37.0% | -28.1% | 11.4% | 33.4% | 18.1% | 25.5% | 51.7% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 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 |
| Assets | |||||||||||||||||
| Current Assets | |||||||||||||||||
| Cash and Cash Equivalents | $255.51M | $268.22M | $178.47M | $143.25M | $200.14M | $198.82M | $143.63M | $174.91M | $159.17M | $156.78M | $166.19M | $182.28M | $211.8M | $151.34M | $132.1M | $158.99M | $101.84M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.71M | $7.8M | $0 | $0 | $1.18M | $2.15M |
| Cash and Short-Term Investments | $255.51M | $268.22M | $178.47M | $143.25M | $200.14M | $198.82M | $143.63M | $174.91M | $159.17M | $156.78M | $166.19M | $182.3M | $231M | $151.34M | $132.1M | $160.16M | $104M |
| Accounts Receivable | $165.22M | $127.65M | $114.51M | $103.61M | $122.26M | $103.47M | $83.52M | $73.26M | $93.46M | $58.84M | $60.06M | $69.36M | $71.54M | $56.62M | $39.45M | $36.73M | $31.65M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$2.07M | -$3.56M | $0 | $0 | -$16K | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $629K | $629K | $629K | $2.7M | $4.19M | $1.53M | $889K | $925K | $1.19M | $1.19M | $1.04M | $0 | $0 |
| Total Current Assets | $441.31M | $409.41M | $307.77M | $262.58M | $335.57M | $313.75M | $237.36M | $258.67M | $262.23M | $225.8M | $234.61M | $258.46M | $308.5M | $213.03M | $175.87M | $199.77M | $138.68M |
| Long-Term Assets | |||||||||||||||||
| Property, Plant & Equipment Net | $138.3M | $124.84M | $141.38M | $149.51M | $123.95M | $115.18M | $126.65M | $29.14M | $21.02M | $20.02M | $18M | $16.59M | $8.76M | $8.81M | $5.57M | $5.22M | $6.05M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $429.13M | $429.21M | $678.52M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$458.27M | -$450.24M | -$698.54M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $638.28M | $670.93M | $514.62M | $341.16M | $242.88M | $234.04M | $130.61M | $84.28M | $158.99M | $6.3M | $0 | $0 | $71.17M | $61.48M | $41.53M | $0 | $0 |
| Deferred Tax Assets | $354.7M | $409.39M | $436.53M | $477.02M | $497.9M | $482.06M | $435.9M | $429.13M | $429.21M | $678.6M | $678.54M | $562.4M | $187.91M | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $4.7M | $4.19M | $5.56M | $4.33M | $7.74M | $6.94M | $3.1M | $63.39M | $193.99M | $41.1M | $23.67M | $12M | $5.06M | $4.24M | $1.88M | $4.89M | $994K |
| Total Long-Term Assets | $1.14B | $1.21B | $1.1B | $972.03M | $872.48M | $838.22M | $696.26M | $576.8M | $623.2M | $719.7M | $720.2M | $590.99M | $272.89M | $74.53M | $48.98M | $10.11M | $7.05M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$30.46M | -$48.27M | -$9.33M | -$8.97M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.58B | $1.62B | $1.41B | $1.23B | $1.21B | $1.15B | $933.62M | $805.01M | $837.15M | $936.17M | $945.85M | $849.45M | $581.4M | $287.56M | $224.85M | $209.88M | $145.73M |
| Liabilities | |||||||||||||||||
| Current Liabilities | |||||||||||||||||
| Accounts Payable | $46.39M | $139.39M | $63.59M | $50.77M | $49.18M | $134.09M | $54.08M | $18.78M | $21.24M | $15.61M | $18.05M | $21.93M | $20.91M | $28.1M | $9.27M | $9.55M | $8.38M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $380M | $400M |
| Current Income Tax Payable | $303.37M | $341.46M | $364.05M | $398.79M | $0 | $412.47M | $375.32M | $369.4M | $385.4M | $586.2M | $589.1M | $489.2M | $160.7M | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $28.85M | $20.55M | $19.23M | $0 | $0 | $0 | $0 | -$15.39M | -$6.51M | -$16.24M | -$18.35M | -$19.57M | $0 | $0 | $0 | $7.84M | $23.84M |
| Total Current Liabilities | $378.62M | $501.4M | $446.87M | $449.56M | $474.6M | $546.56M | $429.41M | $390.84M | $410.25M | $601.86M | $607.15M | $511.09M | $186.98M | $28.1M | $9.27M | $403.02M | $437.74M |
| Long-Term Liabilities | |||||||||||||||||
| Long-Term Debt | $189.14M | $199.43M | $199.27M | $199.05M | $199.44M | $199.28M | $199.1M | $199.3M | $199.13M | $199.48M | $199.31M | $200M | $200M | $290M | $324.79M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.34M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $106.24M | $66.73M | $42.58M | $50.51M | $26.7M | $28.66M | $65.45M | $74.39M | $119.71M | $17.12M | $22.83M | $0 | $187.2M | $642.18M | $529.54M | $543.44M | $465.14M |
| Total Long-Term Liabilities | $416.26M | $367.44M | $355.24M | $370.41M | $326.45M | $320.61M | $365.71M | $273.69M | $318.84M | $216.6M | $222.14M | $200M | $387.2M | $932.18M | $856.67M | $543.44M | $465.14M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$34.35M | -$62.58M | $0 | $0 | $30.86M | -$125.09M | $0 | $0 | $0 | $0 |
| Total Liabilities | $794.87M | $868.84M | $802.1M | $819.97M | $801.05M | $867.17M | $795.12M | $630.18M | $666.51M | $818.45M | $829.29M | $741.95M | $449.09M | $960.27M | $865.94M | $946.46M | $902.88M |
| Stockholders' Equity | |||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34.91M | $0 | $0 | $357.19M | $0 |
| Common Stock | $807K | $804K | $799K | $796K | $790K | $786K | $778K | $769K | $756K | $743K | $734K | $729K | $703K | $0 | $0 | $0 | $0 |
| Retained Earnings | $203.39M | $170.04M | $132.13M | $93.09M | $134.89M | $72.94M | $44.45M | $38.62M | -$37.87M | $13.39M | $13.24M | $16.42M | $1.4M | -$711.38M | -$664.26M | $0 | $0 |
| Comprehensive Income & Other | -$1.69M | -$2.76M | -$2.5M | -$3.08M | -$1.31M | -$991K | -$1.43M | -$1.9M | -$873K | -$1.65M | -$375K | $206K | $378K | -$15.35M | -$13.96M | $0 | -$21M |
| Other Stockholders' Equity | $234.64M | $218.08M | $191.23M | $168.34M | $140.53M | $106.75M | $87.72M | $95.66M | $147.04M | $117.57M | $116.07M | $93.73M | $41.67M | $1.07B | $0 | -$11.78M | -$21M |
| Total Equity | $438.83M | $388.92M | $324.15M | $262.22M | $276.2M | $180.48M | $132.96M | $135.04M | $109.92M | $131.71M | $130.04M | $110.88M | $43.78M | $357.19M | -$664.26M | -$11.78M | -$21M |
| Minority Interest | $343.59M | $361M | $279.61M | $152.42M | $130.79M | $104.32M | $5.54M | $5.44M | -$1.86M | -$14M | -$13.49M | -$3.38M | $88.53M | -$672.72M | $23.17M | $0 | $0 |
| Total Liabilities and Equity | $1.23B | $1.26B | $1.13B | $1.08B | $1.08B | $1.05B | $928.08M | $765.22M | $776.43M | $950.16M | $959.34M | $852.83M | $492.87M | $1.32B | $201.68M | $934.67M | $881.88M |
| Supplementary Data | |||||||||||||||||
| Total Debt | $310.02M | $300.71M | $312.66M | $319.9M | $299.75M | $291.95M | $300.26M | $199.3M | $199.13M | $199.48M | $199.31M | $200M | $200M | $290M | $324.79M | $380M | $400M |
| Net Debt | $54.52M | $32.49M | $134.19M | $176.65M | $99.61M | $93.13M | $156.63M | $24.39M | $39.96M | $42.7M | $33.12M | $17.7M | -$31M | $138.66M | $192.69M | $221.01M | $298.16M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 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 |
| Operating Activities | ||||||||||||||||||
| Net Income | $377.88M | $349.65M | $311.8M | $248.38M | $444.52M | $308.5M | $241.46M | $138.86M | $150.74M | $173M | $212.11M | $242.71M | -$234.13M | $42.58M | $129.97M | $42.53M | $48.23M | $183.32M |
| Depreciation & Amortization | $9.38M | $9.86M | $9.35M | $7.8M | $6.93M | $6.63M | $6.23M | $5.67M | $5.3M | $5.27M | $4.52M | $3.25M | $3.23M | $2.4M | $2.36M | $2.29M | $2.39M | $2.09M |
| Deferred Income Tax | $55.16M | $44.18M | $41.99M | $29.24M | $38.02M | $32.66M | $26.91M | $24.61M | $104.5M | $33.31M | $28.77M | $21.76M | $9.38M | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $28.55M | $32.48M | $33.7M | $41.53M | $39.65M | $37.03M | $43.09M | $53.55M | $62.89M | $72M | $79.52M | $88.26M | $655.42M | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||
| Accounts Receivable | -$34.7M | -$16.9M | $125K | $16.62M | -$15.96M | -$18.02M | -$14.18M | $9M | -$16.95M | $318K | $9.3M | -$5.6M | -$17.74M | -$6.61M | -$2.69M | -$5.08M | -$9.5M | $15.01M |
| Inventory | $0 | $0 | $0 | $0 | $1.3B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $42.67M | $0 | $0 | -$1.3B | $0 | $0 | $10.03M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$2.58M |
| Other Working Capital | $56.18M | $79.66M | $27.31M | $19.81M | -$4.46M | -$4.49M | $47.98M | $14.63M | -$16.97M | -$13.02M | -$11.74M | $2.15M | -$245.43M | $99.4M | -$30.22M | $77.22M | $4.03M | $1.87M |
| Total Working Capital Change | $21.49M | $105.43M | $27.43M | $36.43M | -$20.43M | -$22.51M | $33.8M | $33.66M | -$33.93M | -$12.7M | -$2.44M | -$3.45M | -$263.16M | $92.79M | -$32.91M | $72.14M | -$5.48M | $14.3M |
| Other Non-Cash Items | -$320.46M | -$168.76M | -$171.25M | -$50.77M | -$110.15M | -$43.63M | -$58.7M | $76.96M | -$63.54M | -$517K | -$1.24M | -$963K | -$58.56M | -$7.72M | $3.81M | -$972K | $44.81M | -$50.33M |
| Net Cash from Operating | $171.99M | $372.84M | $253.03M | $312.61M | $398.55M | $318.68M | $292.79M | $333.32M | $225.95M | $270.36M | $321.24M | $351.57M | $112.17M | $130.06M | $103.24M | $115.98M | $89.95M | $149.38M |
| Investing Activities | ||||||||||||||||||
| Capital Expenditures | -$677K | -$4.75M | -$8.63M | -$19.56M | -$5.97M | -$3.1M | -$17.78M | -$13.84M | -$5.83M | -$7.28M | -$7.33M | -$9.62M | -$3.19M | -$5.46M | -$2.74M | -$1.46M | -$1.18M | -$4.28M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27K | $0 | $0 | $30K |
| Purchases of Investments | -$41.41M | -$408.87M | -$35.48M | -$49.34M | -$308.28M | -$2.15M | -$10K | -$500K | -$5.25M | -$4.01M | -$6.75M | -$10.03M | -$5M | $0 | -$20M | -$1.02M | -$14K | -$36K |
| Sales of Investments | $77.33M | $292.49M | $5.95M | $5.16M | $12.81M | $24M | $288K | $0 | $6.38M | $8.96M | $2.72M | $11.61M | $16.93M | $4.6M | $4.1M | $2.2M | $0 | $0 |
| Other Investing Activities | $0 | $96.27M | $0 | $0 | $274.46M | $0 | $0 | $0 | $0 | $0 | $36K | $264K | $0 | -$145K | -$1.04M | $0 | $2K | $0 |
| Net Cash from Investing | $35.25M | -$24.87M | -$38.17M | -$63.73M | -$26.97M | $18.75M | -$17.51M | -$14.34M | -$4.7M | -$2.33M | -$11.32M | -$7.78M | $8.74M | -$1.01M | -$19.65M | -$282K | -$1.2M | -$4.29M |
| Financing Activities | ||||||||||||||||||
| Debt Repaid | $10M | - | - | - | - | - | - | - | - | - | - | - | $90M | $34.79M | $55.21M | $20M | $288K | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $63.03M | $0 | $0 | $162.49M | $0 | $176.56M | $554.13M | $653.34M | $0 | $0 | $16K | $0 | $0 |
| Common Stock Repurchases | $0 | -$6.83M | $0 | $0 | -$56.17M | -$63.03M | $0 | -$21.48M | -$162.49M | $0 | -$176.56M | $0 | -$76.32M | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$257.11M | -$197.96M | -$183.38M | -$248.7M | -$254.45M | -$203.01M | -$188.18M | -$167.78M | -$131.02M | -$115.38M | -$123.95M | -$99.8M | -$14.62M | -$80.89M | -$67.11M | -$36.76M | $0 | -$173.55M |
| Other Financing Activities | $84.14M | -$25.43M | $8.41M | -$57.71M | -$4.52M | -$79.23M | -$118.39M | -$71.66M | -$87.84M | -$162.32M | -$25.5M | -$273.54M | -$225.87M | $3.41M | $6.7M | -$1.81M | -$22.55M | -$1.88M |
| Net Cash from Financing | -$182.96M | -$254.22M | -$174.96M | -$306.4M | -$335.43M | -$282.23M | -$306.57M | -$263.48M | -$218.86M | -$277.71M | -$326M | -$373.35M | -$50.23M | -$114.84M | -$115.62M | -$58.55M | -$22.84M | -$175.43M |
| Forex Effect | -$36.99M | -$4M | $0 | $0 | -$34.82M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$12.71M | $89.75M | $35.22M | -$57.52M | $1.32M | $55.2M | -$31.28M | $15.74M | $2.39M | -$9.68M | -$16.09M | -$29.55M | $70.68M | $14.2M | -$32.03M | $57.14M | $65.92M | $0 |
| Supplementary Data | ||||||||||||||||||
| Operating Cash Flow | $171.99M | $372.84M | $253.03M | $312.61M | $398.55M | $318.68M | $292.79M | $333.32M | $225.95M | $270.36M | $321.24M | $351.57M | $112.17M | $130.06M | $103.24M | $115.98M | $89.95M | $149.38M |
| Capital Expenditure | -$677K | -$4.75M | -$8.63M | -$19.56M | -$5.97M | -$3.1M | -$17.78M | -$13.84M | -$5.83M | -$7.28M | -$7.33M | -$9.62M | -$3.19M | -$5.46M | -$2.74M | -$1.46M | -$1.18M | -$4.28M |
| Free Cash Flow | $171.31M | $368.09M | $244.4M | $293.05M | $392.58M | $315.58M | $275.01M | $319.48M | $220.12M | $263.08M | $313.9M | $341.95M | $108.97M | $124.59M | $100.5M | $114.52M | $88.77M | $145.1M |
| Cash at Beginning | $268.22M | $178.47M | $143.25M | $200.77M | $199.45M | $144.25M | $175.53M | $159.8M | $157.41M | $167.08M | $182.28M | $211.84M | $141.16M | $126.96M | $158.99M | $101.84M | $35.93M | $0 |
| Cash at End | $255.51M | $268.22M | $178.47M | $143.25M | $200.77M | $199.45M | $144.25M | $175.53M | $159.8M | $157.41M | $166.19M | $182.28M | $211.84M | $141.16M | $126.96M | $158.99M | $101.84M | $0 |