Ares Management Corp (ARES)
Ares Management Corporation functions as an investment firm specializing in alternative assets, with operations spanning the United States, Europe, and Asia. Its Tradable Credit division oversees diverse investment vehicles, including pooled funds and separately managed accounts for institutional investors, alongside publicly traded products and sub-advised funds aimed at retail investors, all within the tradable and non-investment grade corporate credit markets. The Direct Lending segment delivers financial solutions to small and medium-sized businesses. Through its Private Equity arm, the company primarily targets investments where it holds a majority or shared controlling interest, focusing on companies that are currently under-capitalized. The Real Estate group is involved in financing new property developments and the strategic repositioning of existing assets, often taking control or majority-control stakes. This group also creates and invests in specialized financing opportunities for middle-market commercial real estate owners and operators. Established in 1997, the company, formerly known as Ares Management, L.P., is headquartered in Los Angeles, California, and maintains a global footprint with additional offices across the United States, Europe, and Asia. Ares Management GP LLC serves as its general partner.
Sector: Investment Advice
Industry: Asset Management
Ares Management Corporation
NYSE:ARESFinancial Services · Asset Management
-1.31%$122.08
AH Close$122.08+0.00%vs close
AH Close$122.08+0.00%vs close
Mkt Cap$27.34B
Float212.13M
O/S223.96M
Inst Own98.3%
SI7.3%
Div Yield4.23%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$6.47B
Net Income$527.36M
Total Assets$28.99B
Free Cash Flow$3.19B
Debt & Equity
Debt 72%
Equity 21%
Preferred 7%
Total Debt$14.91B
Total Equity$4.28B
Preferred Stock$1.46B
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:40Reverse splitDec 17, 200440 shares → 1
Balance Sheet Details
Assets$28.99B
Liabilities$20.29B
Accounts Receivable$1.9B
Accounts Payable$0
Inventory$0
PP&E (Net)$517.35M
Goodwill$3.45B
Intangible Assets$2.12B
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $6.47B | $3.88B | $3.63B | $3.06B | $4.21B | $1.76B | $1.77B | $958.46M | $1.48B | $1.25B | $814.44M | $603.89M | $478.65M | $334.05M | $2.68B |
| YoY Growth | 66.6% | 7.0% | 18.9% | -27.5% | 138.8% | -0.1% | 84.2% | -35.2% | 18.0% | 54.0% | 34.9% | 26.2% | 43.3% | -87.5% | - |
| Cost of Revenue | $1.63B | $1.73B | $1.49B | $1.5B | $1.16B | $767.25M | $653.35M | $570.38M | $514.11M | $447.73M | $414.45M | $456.37M | $333.9M | $288.72M | $200.78M |
| Gross Profit | $4.84B | $2.15B | $2.15B | $1.56B | $3.05B | $996.79M | $1.11B | $388.08M | $965.83M | $806.65M | $399.99M | $147.52M | $144.75M | $45.33M | $6.18M |
| Gross Margin | 74.8% | 55.4% | 59.1% | 51.0% | 72.4% | 56.5% | 63.0% | 40.5% | 65.3% | 64.3% | 49.1% | 24.4% | 30.2% | 13.6% | 0.2% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $1.19B | $1.27B | $1.21B | $2.18B | $663.12M | $767.4M | $246.22M | $676.45M | $547.62M | $336.48M | $336.87M | $332.76M | $353.31M | $189.03M |
| Other | $3.08B | $20.88M | $43.49M | $36.41M | $62.49M | $20.12M | $42.05M | $53.76M | $378.64M | $76.24M | $18.11M | $66.8M | $135.24M | $116.5M | $78.1M |
| Total Operating Expenses | $3.08B | $1.21B | $1.31B | $1.25B | $2.25B | $683.23M | $809.45M | $299.98M | $1.06B | $623.86M | $354.59M | $403.67M | $468M | $469.81M | $267.13M |
| Operating Income (EBIT) | $1.76B | $946.09M | $834.03M | $306.36M | $802.01M | $313.56M | $302.64M | $88.1M | -$89.26M | $182.78M | $45.4M | -$256.15M | -$323.24M | -$424.49M | -$260.95M |
| Operating Margin | 27.2% | 24.4% | 23.0% | 10.0% | 19.0% | 17.8% | 17.1% | 9.2% | -6.0% | 14.6% | 5.6% | -42.4% | -67.5% | -127.1% | -9.7% |
| Interest Expense | $767.46M | $978.3M | $860.88M | $482.72M | $294.81M | $311.22M | $297.42M | $244.34M | $147.95M | $109.43M | $97.77M | $674.99M | $543.91M | $458.06M | $333.91M |
| Interest Income | $670.87M | $976.4M | $1.01B | $595.93M | $447.68M | $471.72M | $403.11M | $344.9M | $194.76M | $143.44M | $131.42M | $945.08M | $1.24B | $1.42B | $1.43B |
| Other Income (Expense) | -$474.48M | $329.26M | $499.04M | $204.45M | $263.68M | $65.92M | $122.54M | $96.24M | $239.12M | $115.14M | $36.08M | $813.07M | $1.2B | $1.69B | $1.21B |
| Income Before Tax (EBT) | $1.29B | $1.28B | $1.33B | $510.81M | $1.07B | $379.48M | $425.18M | $184.34M | $149.86M | $297.92M | $81.48M | $556.91M | $872.64M | $1.26B | $952.94M |
| Income Tax Expense | $198.53M | $164.62M | $172.97M | $71.89M | $147.38M | $54.99M | $52.38M | $32.2M | -$23.05M | $11.02M | $19.06M | $11.25M | $59.26M | $26.15M | $29.57M |
| Net Income | $527.36M | $463.74M | $474.33M | $167.54M | $408.84M | $152.14M | $148.88M | $57.02M | $76.18M | $111.81M | $19.38M | $34.99M | $180.48M | $220.65M | $97.35M |
| Net Income Margin | 8.2% | 11.9% | 13.1% | 5.5% | 9.7% | 8.6% | 8.4% | 5.9% | 5.1% | 8.9% | 2.4% | 5.8% | 37.7% | 66.1% | 3.6% |
| Supplementary Data | |||||||||||||||
| EPS | 1.96 | 2.07 | 2.46 | 0.87 | 2.25 | 0.89 | 1.11 | 0.30 | 0.62 | 1.22 | 0.23 | 0.43 | 2.39 | 2.34 | 1.29 |
| Diluted EPS | 1.96 | 2.07 | 2.42 | 0.87 | 2.15 | 0.87 | 1.06 | 0.30 | 0.62 | 1.20 | 0.23 | 0.43 | 2.24 | 2.34 | 1.22 |
| Weighted Average OS | 217.36M | 198.05M | 184.52M | 175.51M | 163.70M | 135.07M | 107.91M | 96.02M | 81.84M | 80.75M | 80.67M | 80.36M | 80.44M | 94.17M | 75.46M |
| EBITDA | $2.3B | $2.41B | $2.43B | $1.33B | $1.47B | $731.95M | $762.05M | $457.2M | $330.61M | $444.81M | $234.53M | $1.27B | $1.47B | $1.73B | $1.31B |
| EBITDA Margin | 35.5% | 62.1% | 66.8% | 43.7% | 35.0% | 41.5% | 43.2% | 47.7% | 22.3% | 35.5% | 28.8% | 210.0% | 306.3% | 519.1% | 48.8% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | |||||||||||||||
| Current Assets | |||||||||||||||
| Cash and Cash Equivalents | $1.5B | $2.74B | $1.5B | $1.11B | $1.39B | $1.06B | $744.71M | $494.89M | $675.43M | $798.14M | $280.99M | $1.46B | $1.73B | $1.78B | $1.56B |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.5B | $2.74B | $1.5B | $1.11B | $1.39B | $1.06B | $744.71M | $494.89M | $675.43M | $798.14M | $280.99M | $1.46B | $1.73B | $1.78B | $1.56B |
| Accounts Receivable | $1.9B | $1.51B | $1.27B | $1.08B | $1.16B | $625.28M | $439.58M | $344.17M | $283.29M | $957.13M | $721.1M | $559.02M | $694.26M | $553.11M | $271.69M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$51.98M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.67M | $2.69M | $43.48M | $146.5M | $141.41M | $214.02M |
| Total Current Assets | $3.35B | $4.25B | $2.77B | $2.2B | $2.55B | $1.69B | $1.18B | $839.06M | $958.72M | $1.76B | $1B | $2.07B | $2.57B | $2.47B | $2.05B |
| Long-Term Assets | |||||||||||||||
| Property, Plant & Equipment Net | $517.35M | $688.99M | $371.55M | $235.63M | $238.91M | $215.62M | $206.29M | $63.38M | $61.15M | $40.76M | $38.15M | $0 | $27.85M | $18.78M | $19.81M |
| Goodwill | $3.45B | $1.16B | $1.12B | $999.66M | $787.97M | $371.05M | $143.85M | $143.79M | $143.9M | $143.72M | $144.07M | $85.58M | $58.16M | $8.19M | $8.36M |
| Intangible Assets | $2.12B | $975.83M | $1.06B | $1.21B | $1.42B | $222.09M | $7.97M | $31.43M | $40.47M | $58.31M | $84.97M | $40.95M | $68.74M | $68.07M | $66.94M |
| Long-Term Investments | $12.84B | $17.38B | $19.23B | $17.18B | $16.5B | $12.56B | $10.39B | $9B | $7.31B | $3.8B | $3.03B | $19.37B | $20.91B | $21.84B | $21.47B |
| Deferred Tax Assets | $0 | $241.89M | $21.55M | $68.93M | $39.4M | $70.03M | $46.36M | $42.14M | $8.33M | $6.73M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $6.71B | $186.08M | $157.45M | $111.62M | $64.34M | $42.89M | $33.82M | $35.59M | $43.55M | $23.73M | $22.72M | $77.18M | $69.29M | $89.49M | $119.58M |
| Total Long-Term Assets | $25.64B | $20.64B | $21.96B | $19.8B | $19.05B | $13.48B | $10.83B | $9.32B | $7.6B | $4.07B | $3.32B | $19.58B | $21.14B | $22.03B | $21.69B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | -$1K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $28.99B | $24.88B | $24.73B | $22B | $21.61B | $15.17B | $12.01B | $10.15B | $8.56B | $5.83B | $4.32B | $21.64B | $23.71B | $24.5B | $23.73B |
| Liabilities | |||||||||||||||
| Current Liabilities | |||||||||||||||
| Accounts Payable | $0 | $686.97M | $423.41M | $400.21M | $382.93M | $162.11M | $150.03M | $167.1M | $146.27M | $104.39M | $121.58M | $788.8M | $163.32M | $126.25M | $121.26M |
| Short-Term Debt | $1.49B | $275M | $125.24M | $168.05M | $127.77M | $121.91M | $106.05M | $207.92M | $132.48M | $55.07M | $11.73M | $0 | $1.3B | $1.69B | $1.99B |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$27.98M | -$131.74M | $0 | $48.95M | -$132.92M | -$26.29M | $0 |
| Total Current Liabilities | $1.49B | $4.33B | $3.79B | $3.42B | $4.02B | $1.69B | $1.66B | $1.57B | $1.49B | $983.82M | $599.71M | $1.37B | $2.74B | $3.17B | $2.71B |
| Long-Term Liabilities | |||||||||||||||
| Long-Term Debt | $12.77B | $12.23B | $15.31B | $12.98B | $12.16B | $10.6B | $8.29B | $7.16B | $5.59B | $3.34B | $2.56B | $13.45B | $13.02B | $13.1B | $12.14B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $374.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21.29M | $42.08M | $56.91M | $4M | $5.49M |
| Other Long-Term Liabilities | $5B | $855.09M | $834.29M | $1.62B | $1.41B | $222.29M | $37.8M | $29.39M | -$5.55B | $131.74M | $168.54M | $20M | $1.35B | $1.24B | $1.18B |
| Total Long-Term Liabilities | $18.8B | $13.73B | $16.47B | $14.78B | $13.77B | $11B | $8.5B | $7.19B | $5.61B | $3.47B | $2.75B | $13.51B | $14.42B | $14.34B | $13.33B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $20.29B | $18.06B | $20.26B | $18.2B | $17.79B | $12.7B | $10.16B | $8.76B | $7.1B | $4.45B | $3.35B | $14.88B | $17.16B | $17.5B | $16.04B |
| Stockholders' Equity | |||||||||||||||
| Preferred Stock | $1.46B | $1.46B | $0 | $0 | $0 | $298.76M | $298.76M | $298.76M | $298.76M | $298.76M | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3.24M | $3.13M | $3.08M | $2.95M | $2.9M | $2.6M | $1.15M | $1.02M | $279.06M | $0 | $251.54M | $285.02M | $321.89M | $411.57M | $0 |
| Retained Earnings | -$1.45B | -$837.29M | -$495.08M | -$369.48M | -$89.38M | -$151.82M | -$50.82M | -$29.34M | $0 | $0 | $0 | $0 | $0 | -$101.11M | -$64.32M |
| Comprehensive Income & Other | $21.74M | -$17.76M | -$5.63M | -$14.99M | -$1.85M | $483K | -$6.05M | -$8.52M | -$4.21M | -$8.94M | -$4.62M | -$1.39M | $0 | -$59K | -$916K |
| Other Stockholders' Equity | $5.72B | $4.38B | $2.39B | $1.96B | $1.91B | $1.34B | $817.96M | $616.24M | $1.18B | $591.61M | $716.87M | -$1.39M | $6.1B | $183.22M | $418.87M |
| Total Equity | $4.28B | $3.54B | $1.89B | $1.59B | $1.83B | $1.19B | $768.29M | $587.92M | $1.46B | $591.61M | $968.41M | $283.64M | $6.43B | $493.69M | $354.56M |
| Minority Interest | $4.43B | $3.28B | $2.58B | $2.21B | $1.99B | $1.28B | $1.09B | $806.42M | $886.67M | $785.65M | $744.99M | $6.48B | $7.15B | $6.5B | $7.34B |
| Total Liabilities and Equity | $24.57B | $21.6B | $22.15B | $19.79B | $19.62B | $13.89B | $10.92B | $9.35B | $8.56B | $5.04B | $4.32B | $15.17B | $23.59B | $18B | $16.4B |
| Supplementary Data | |||||||||||||||
| Total Debt | $14.91B | $13.15B | $15.76B | $13.33B | $12.49B | $10.9B | $8.57B | $7.37B | $11.3B | $3.39B | $2.58B | $13.45B | $14.32B | $14.78B | $14.12B |
| Net Debt | $13.41B | $10.41B | $14.26B | $12.22B | $11.1B | $9.84B | $7.82B | $6.87B | $10.62B | $2.59B | $2.29B | $11.99B | $12.59B | $13.01B | $12.56B |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | |||||||||||||||
| Net Income | $1.09B | $1.11B | $1.16B | $438.92M | $390.71M | $324.49M | $372.8M | $152.14M | $172.91M | $286.9M | $62.42M | $545.66M | $813.38M | $1.24B | $923.37M |
| Depreciation & Amortization | $243.15M | $158.58M | $231.71M | $341.34M | $113.29M | $41.25M | $39.46M | $28.52M | $32.81M | $37.45M | $55.27M | $36.13M | $49.53M | $14.18M | $19.57M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$8.11M | -$28.46M | $1.43M | -$1.14B | $0 | $0 | $0 |
| Stock-Based Compensation | $740.55M | $352.85M | $255.97M | $200.39M | $0 | $122.99M | $97.69M | $0 | $69.71M | $39.06M | $32.24M | $83.23M | $28.84M | $51.99M | $20.95M |
| Changes in Working Capital: | |||||||||||||||
| Accounts Receivable | -$37.8M | -$188.17M | $0 | -$20.61M | -$745.02M | -$17.69M | $0 | $62.6M | $0 | $0 | $20.61M | $38.08M | $32.83M | -$71.28M | -$13.55M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $461.14M | -$525.7M |
| Accounts Payable | $91.96M | $148.38M | $27.86M | -$51.69M | $125.17M | $21.04M | $30.67M | $2.26M | $14.56M | $5.33M | -$37.19M | $34.03M | -$11.41M | $3.61M | $11.7M |
| Other Working Capital | $219.08M | -$163.2M | -$481.92M | -$122.33M | $718.38M | $57.33M | -$444.54M | $99.83M | -$115.49M | -$197.78M | $33.52M | $248.84M | $255.5M | -$464.75M | $271.74M |
| Total Working Capital Change | $273.24M | -$202.99M | -$454.06M | -$194.63M | $98.52M | $60.67M | -$413.87M | $164.69M | -$100.93M | -$192.46M | $16.93M | $320.95M | $276.9M | -$71.28M | -$255.8M |
| Other Non-Cash Items | $921.66M | $1.37B | -$1.43B | -$1.52B | -$3.2B | -$975.05M | -$2.18B | $188.22M | -$2.03B | -$768.16M | -$696.28M | $1.69B | $1.01B | $1.52B | $1.78B |
| Net Cash from Operating | $3.27B | $2.79B | -$233.26M | -$734.11M | -$2.6B | -$425.66M | -$2.08B | $428.08M | -$1.86B | -$625.65M | -$527.99M | $1.53B | $2.17B | $2.75B | $2.49B |
| Investing Activities | |||||||||||||||
| Capital Expenditures | -$72.18M | -$91.51M | -$67.18M | -$35.8M | -$27.23M | -$15.94M | -$16.8M | -$18.42M | -$33.16M | -$11.91M | -$10.68M | -$16.66M | -$12.05M | -$3.52M | -$31.87M |
| Acquisitions | -$1.73B | -$67.89M | -$43.9M | -$301.58M | -$1.06B | -$120.82M | $0 | $0 | $0 | $0 | -$64.44M | -$60M | -$50.32M | $0 | -$10.56M |
| Purchases of Investments | $0 | -$6.51B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $8.25B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | -$1.74B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$9.4M | $0 |
| Net Cash from Investing | -$1.8B | -$159.4M | -$111.08M | -$337.38M | -$1.08B | -$136.76M | -$16.8M | -$18.42M | -$33.16M | -$11.91M | -$75.11M | -$76.66M | -$62.37M | -$12.91M | -$42.42M |
| Financing Activities | |||||||||||||||
| Debt Repaid | -$293.08M | $2.28B | -$1.68B | -$1.77B | -$2.42B | -$1.22B | -$2.14B | -$1.74B | -$1.82B | -$821.08M | -$796.39M | $230.98M | $803.83M | $769.31M | $778.79M |
| Common Stock Issuance | $0 | $407.12M | $85.96M | $21.2M | $827.43M | $476.03M | $206.71M | $105.33M | $1.04M | $298.76M | $88.65M | $209.19M | $0 | $0 | $0 |
| Common Stock Repurchases | -$946.37M | $0 | $0 | $0 | $0 | $0 | -$10.45M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$1.76B | -$1.31B | -$1.03B | -$836.36M | -$593.51M | -$446.78M | -$323.67M | -$156.55M | -$261.66M | -$200.66M | -$217.76M | -$329.89M | -$420.19M | -$230.61M | -$258.95M |
| Other Financing Activities | -$17.19M | $291.4M | -$445.61M | $173.85M | $757.37M | -$215.98M | $130.31M | -$157.09M | $117.92M | -$26.24M | $2.91M | -$1.01B | -$889.9M | -$1.71B | -$1.45B |
| Net Cash from Financing | -$2.43B | -$1.43B | $292.13M | $1.13B | $3.5B | $943.89M | $2.12B | $1.41B | $1.65B | $880.76M | $581.54M | -$1.36B | -$2.11B | -$2.71B | -$2.49B |
| Forex Effect | -$55.23M | -$40.45M | $10.5M | -$10.24M | -$19.1M | $19.96M | $5.62M | $21.5M | $17.36M | -$21.82M | -$5.81M | -$32.76M | $22.95M | $7.13M | -$14.76M |
| Net Change in Cash | -$1.02B | $1.16B | -$41.71M | $46.33M | -$196.16M | $401.43M | $28.14M | -$8.68M | -$223.93M | $221.38M | -$27.38M | $59.06M | $21.34M | $34.03M | -$54.04M |
| Supplementary Data | |||||||||||||||
| Operating Cash Flow | $3.27B | $2.79B | -$233.26M | -$734.11M | -$2.6B | -$425.66M | -$2.08B | -$1.42B | -$1.86B | -$625.65M | -$527.99M | $1.53B | $2.17B | $2.75B | $2.49B |
| Capital Expenditure | -$72.18M | -$91.51M | -$67.18M | -$35.8M | -$27.23M | -$15.94M | -$16.8M | -$18.42M | -$33.16M | -$11.91M | -$10.68M | -$16.66M | -$12.05M | -$12.91M | -$31.87M |
| Free Cash Flow | $3.19B | $2.7B | -$300.44M | -$769.91M | -$2.62B | -$441.6M | -$2.1B | -$1.44B | -$1.9B | -$637.57M | -$538.66M | $1.52B | $2.16B | $2.74B | $2.46B |
| Cash at Beginning | $1.51B | $348.27M | $389.99M | $343.65M | $539.81M | $138.38M | $110.25M | $118.93M | $342.86M | $121.48M | $148.86M | $89.8M | $68.46M | $34.42M | $88.46M |
| Cash at End | $488.9M | $1.51B | $348.27M | $389.99M | $343.65M | $539.81M | $138.38M | $110.25M | $118.93M | $342.86M | $121.48M | $148.86M | $89.8M | $68.46M | $34.42M |