MARSH & MCLENNAN COMPANIES, INC. (MRSH)
Marsh & McLennan Companies, Inc. (MRSH) functions as a leading professional services organization, delivering expert guidance and innovative solutions to clients across the vital domains of risk management, strategic planning, and human capital. Based in New York City, the firm maintains a substantial global workforce, employing approximately 65,000 full-time professionals. This entity serves as the parent company for several prominent advisory and consulting brands. These include Marsh, renowned for its insurance brokerage services; Guy Carpenter, a specialist in risk and reinsurance; Mercer, which provides comprehensive human resources and investment-related financial advice; and Oliver Wyman Group, an influential management and economic consultancy. Marsh & McLennan structures its operations into two core business segments. The "Risk and Insurance Services" division encompasses activities such as risk management, along with comprehensive insurance and reinsurance brokerage and services. The "Consulting" division offers a broad spectrum of services, including health, retirement, talent, and investment consulting, as well as specialized advice in management, economics, and brand strategy. The Risk and Insurance Services segment's operations are primarily conducted through Marsh and Guy Carpenter, while Mercer and Oliver Wyman Group are the key contributors to the Consulting segment's offerings.
Sector: Insurance Agents, Brokers & Service
Industry: Insurance - Brokers
Marsh & McLennan Companies, Inc.
NYSE:MRSHFinancial Services · Insurance - Brokers
-0.90%$197.48
AH Close$197.48+0.00%vs close
AH Close$197.48+0.00%vs close
Mkt Cap$93.9B
Float476.45M
O/S475.51M
Inst Own91.3%
SI1.3%
Div Yield1.91%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$26.98B
Net Income$4.16B
Total Assets$58.71B
Free Cash Flow$5B
Debt & Equity
Debt 59%
Equity 41%
Total Debt$21.45B
Total Equity$15.1B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MRSH's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$58.71B
Liabilities$43.4B
Accounts Receivable$7.67B
Accounts Payable$3.65B
Inventory$0
PP&E (Net)$2.29B
Goodwill$24.34B
Intangible Assets$5.21B
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 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 | FY 1988 | FY 1987 | FY 1986 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | 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 | 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 | 1996-12-31 | 1995-12-31 | 1994-12-31 | 1993-12-31 | 1992-12-31 | 1991-12-31 | 1990-12-31 | 1989-12-31 | 1988-12-31 | 1987-12-31 | 1986-12-31 |
| Revenue | $26.98B | $24.46B | $22.74B | $20.72B | $19.82B | $17.22B | $16.65B | $14.95B | $14.02B | $13.21B | $12.89B | $12.95B | $12.26B | $11.92B | $11.53B | $10.55B | $9.83B | $10.73B | $11.18B | $11.92B | $11.65B | $11.76B | $11.59B | $10.44B | $9.87B | $10.31B | $9.16B | $7.19B | $6.01B | $4.4B | $3.94B | $3.44B | $3.16B | $2.94B | $2.78B | $2.72B | $2.43B | $2.27B | $2.15B | $1.8B |
| YoY Growth | 10.3% | 7.6% | 9.7% | 4.5% | 15.1% | 3.4% | 11.4% | 6.6% | 6.2% | 2.5% | -0.4% | 5.6% | 2.8% | 3.5% | 9.3% | 7.3% | -8.4% | -4.0% | -6.2% | 2.3% | -0.9% | 1.5% | 11.0% | 5.8% | -4.3% | 12.6% | 27.4% | 19.7% | 36.4% | 11.9% | 14.6% | 8.6% | 7.7% | 5.7% | 2.1% | 12.2% | 6.8% | 5.8% | 19.0% | - |
| Cost of Revenue | $15.58B | $14B | $13.1B | $12.07B | $11.43B | $10.13B | $9.73B | $8.61B | $8.09B | $7.69B | $7.33B | $7.51B | $7.23B | $7.13B | $6.97B | $6.46B | $0 | $0 | $0 | $7.11B | $3.81B | $3.49B | $9.09B | $8.17B | $7.93B | $8.13B | $7.26B | $5.5B | $5.01B | $3.55B | $3.11B | $2.64B | $2.45B | $2.28B | $2.17B | $2.09B | $1.83B | $1.68B | $1.53B | $1.27B |
| Gross Profit | $11.4B | $10.46B | $9.64B | $8.65B | $8.39B | $7.09B | $6.92B | $6.34B | $5.94B | $5.52B | $5.56B | $5.44B | $5.04B | $4.79B | $4.56B | $4.08B | $9.83B | $10.73B | $11.18B | $4.81B | $7.84B | $8.28B | $2.5B | $2.27B | $1.94B | $2.18B | $1.9B | $1.69B | $997M | $855M | $830M | $790.9M | $712.7M | $653M | $611.2M | $632.3M | $598.8M | $596.3M | $620.3M | $536M |
| Gross Margin | 42.3% | 42.8% | 42.4% | 41.7% | 42.4% | 41.2% | 41.5% | 42.4% | 42.3% | 41.8% | 43.1% | 42.0% | 41.1% | 40.2% | 39.5% | 38.7% | 100.0% | 100.0% | 100.0% | 40.3% | 67.3% | 70.4% | 21.5% | 21.8% | 19.6% | 21.1% | 20.7% | 23.5% | 16.6% | 19.4% | 21.1% | 23.0% | 22.5% | 22.2% | 22.0% | 23.2% | 24.7% | 26.2% | 28.9% | 29.7% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $0 | $0 | $0 | $0 | $0 | $9.73B | $8.61B | $8.09B | $7.69B | $7.33B | $7.51B | $7.23B | $7.13B | $6.97B | $6.46B | $6.18B | $6.83B | $10.33B | $9.39B | $9.49B | $6.71B | $9.05B | $8.11B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | $5.18B | $4.64B | $4.36B | $4.37B | $4.08B | $4.03B | -$5.49B | -$5.02B | -$4.8B | -$4.61B | -$4.19B | -$4.38B | -$4.27B | -$4.17B | -$4.05B | -$3.32B | $2.87B | $3.22B | $0 | -$7.11B | -$3B | $969M | -$9.09B | -$8.17B | $174M | -$2M | $431M | $272M | $199M | $140M | $135.1M | $120.6M | $119.9M | $112M | $113.1M | $105M | $89.3M | $80.9M | $70.1M | $55.5M |
| Total Operating Expenses | $5.18B | $4.64B | $4.36B | $4.37B | $4.08B | $4.03B | $4.24B | $3.58B | $3.28B | $3.09B | $3.14B | $3.13B | $2.96B | $2.96B | $2.92B | $3.15B | $9.05B | $10.05B | $10.33B | $3.35B | $6.99B | $7.67B | $0 | $0 | $174M | -$2M | $431M | $272M | $199M | $140M | $135.1M | $120.6M | $119.9M | $112M | $113.1M | $105M | $89.3M | $80.9M | $70.1M | $55.5M |
| Operating Income (EBIT) | $6.22B | $5.82B | $5.28B | $4.28B | $4.31B | $3.07B | $2.68B | $2.76B | $2.65B | $2.43B | $2.42B | $2.3B | $2.08B | $1.83B | $1.64B | $939M | $778M | $679M | $846M | $948M | $590M | $600M | $2.5B | $2.27B | $1.76B | $2.18B | $1.47B | $1.42B | $798M | $715M | $694.9M | $670.3M | $592.8M | $541M | $498.1M | $527.3M | $509.5M | $515.4M | $550.2M | $480.5M |
| Operating Margin | 23.1% | 23.8% | 23.2% | 20.7% | 21.8% | 17.8% | 16.1% | 18.5% | 18.9% | 18.4% | 18.8% | 17.8% | 16.9% | 15.3% | 14.2% | 8.9% | 7.9% | 6.3% | 7.6% | 8.0% | 5.1% | 5.1% | 21.5% | 21.8% | 17.9% | 21.1% | 16.0% | 19.7% | 13.3% | 16.2% | 17.6% | 19.5% | 18.7% | 18.4% | 17.9% | 19.4% | 21.0% | 22.7% | 25.6% | 26.6% |
| Interest Expense | $960M | $700M | $578M | $469M | $444M | $515M | $524M | $290M | $237M | $189M | $163M | $165M | $167M | $181M | $199M | $233M | $241M | $220M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $48M | $83M | $78M | $15M | $2M | $7M | $39M | $11M | $9M | $5M | $13M | $21M | $18M | $24M | $28M | $20M | $17M | $47M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$684M | -$337M | -$256M | -$198M | -$104M | -$273M | -$238M | -$517M | -$12M | $49M | -$112M | -$244M | -$104M | -$133M | -$234M | -$170M | -$226M | -$185M | $1M | -$239M | -$288M | -$198M | -$161M | -$141M | -$173M | -$224M | -$217M | -$115M | -$83M | -$47M | -$45.1M | -$38.8M | -$34.2M | -$21.7M | $28.7M | $1.5M | $7.8M | $1M | $17.1M | $20.9M |
| Income Before Tax (EBT) | $5.54B | $5.48B | $5.03B | $4.08B | $4.21B | $2.79B | $2.44B | $2.24B | $2.64B | $2.48B | $2.31B | $2.06B | $1.97B | $1.7B | $1.4B | $769M | $552M | $494M | $847M | $1.22B | $571M | $402M | $2.33B | $2.13B | $1.59B | $1.96B | $1.25B | $1.3B | $715M | $668M | $649.8M | $631.5M | $558.6M | $519.3M | $526.8M | $528.8M | $517.3M | $516.4M | $567.3M | $501.4M |
| Income Tax Expense | $1.3B | $1.36B | $1.22B | $995M | $1.03B | $747M | $666M | $574M | $1.13B | $685M | $671M | $586M | $594M | $492M | $422M | $204M | $21M | $113M | $295M | $388M | $192M | $240M | $770M | $747M | $599M | $753M | $524M | $509M | $281M | $209M | $246.9M | $249.5M | $226.2M | $215.5M | $221.3M | $224.7M | $222.4M | $220.1M | $265.2M | $258.2M |
| Net Income | $4.16B | $4.06B | $3.76B | $3.05B | $3.14B | $2.02B | $1.74B | $1.65B | $1.49B | $1.77B | $1.6B | $1.47B | $1.36B | $1.18B | $993M | $855M | $227M | -$73M | $2.48B | $990M | $404M | $376M | $1.54B | $1.36B | $974M | $1.18B | $726M | $796M | $434M | $459M | $402.9M | $371.5M | $332.4M | $263.7M | $305.5M | $304.1M | $294.9M | $296.3M | $302.1M | $243.2M |
| Net Income Margin | 15.4% | 16.6% | 16.5% | 14.7% | 15.9% | 11.7% | 10.5% | 11.0% | 10.6% | 13.4% | 12.4% | 11.3% | 11.1% | 9.9% | 8.6% | 8.1% | 2.3% | -0.7% | 22.1% | 8.3% | 3.5% | 3.2% | 13.3% | 13.1% | 9.9% | 11.5% | 7.9% | 11.1% | 7.2% | 10.4% | 10.2% | 10.8% | 10.5% | 9.0% | 11.0% | 11.2% | 12.1% | 13.0% | 14.1% | 13.5% |
| Supplementary Data | ||||||||||||||||||||||||||||||||||||||||
| EPS | 8.48 | 8.25 | 7.60 | 6.11 | 6.20 | 3.98 | 3.44 | 3.26 | 2.91 | 3.41 | 3.01 | 2.69 | 2.47 | 2.16 | 1.83 | 1.58 | 0.46 | -0.14 | 4.59 | 1.80 | 0.75 | 0.33 | 2.89 | 2.52 | 1.77 | 2.17 | 1.38 | 1.55 | 0.81 | 1.06 | 0.92 | 0.84 | 0.75 | 0.61 | 0.70 | 0.69 | 0.68 | 0.68 | 0.67 | 0.55 |
| Diluted EPS | 8.43 | 8.18 | 7.53 | 6.04 | 6.13 | 3.94 | 3.41 | 3.23 | 2.87 | 3.37 | 2.98 | 2.65 | 2.43 | 2.13 | 1.80 | 1.57 | 0.46 | -0.14 | 4.53 | 1.78 | 0.74 | 0.33 | 2.81 | 2.45 | 1.70 | 2.08 | 1.33 | 1.51 | 0.80 | 1.04 | 0.91 | 0.84 | 0.75 | 0.61 | 0.70 | 0.69 | 0.68 | 0.68 | 0.67 | 0.55 |
| Weighted Average OS | 487.00M | 492.00M | 494.00M | 499.00M | 507.00M | 506.00M | 506.00M | 506.00M | 513.00M | 519.00M | 531.00M | 545.00M | 549.00M | 544.00M | 542.00M | 540.00M | 522.00M | 514.00M | 539.00M | 549.00M | 538.00M | 526.00M | 533.00M | 541.00M | 550.00M | 544.00M | 526.00M | 512.00M | 490.40M | 435.07M | 437.93M | 441.60M | 440.26M | 432.30M | 439.57M | 437.55M | 430.51M | 432.55M | 447.56M | 442.18M |
| EBITDA | $7.39B | $6.93B | $6.32B | $5.27B | $5.4B | $4.05B | $3.61B | $3.03B | $3.36B | $3.11B | $2.89B | $2.61B | $2.5B | $2.23B | $1.94B | $1.36B | $1.16B | $1.12B | $1.29B | $1.44B | $1.08B | $1.06B | $2.89B | $2.63B | $2.28B | $2.67B | $1.9B | $1.69B | $997M | $855M | $830M | $790.9M | $712.7M | $653M | $611.2M | $632.3M | $598.8M | $596.3M | $620.3M | $536M |
| EBITDA Margin | 27.4% | 28.3% | 27.8% | 25.4% | 27.2% | 23.5% | 21.7% | 20.3% | 24.0% | 23.5% | 22.4% | 20.2% | 20.4% | 18.7% | 16.8% | 12.9% | 11.8% | 10.4% | 11.5% | 12.0% | 9.3% | 9.0% | 24.9% | 25.2% | 23.1% | 25.9% | 20.7% | 23.5% | 16.6% | 19.4% | 21.1% | 23.0% | 22.5% | 22.2% | 22.0% | 23.2% | 24.7% | 26.2% | 28.9% | 29.7% |
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 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 | FY 1988 | FY 1987 | FY 1986 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | 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 | 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 | 1996-12-31 | 1995-12-31 | 1994-12-31 | 1993-12-31 | 1992-12-31 | 1991-12-31 | 1990-12-31 | 1989-12-31 | 1988-12-31 | 1987-12-31 | 1986-12-31 |
| Assets | ||||||||||||||||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $2.69B | $2.4B | $3.36B | $1.44B | $1.75B | $2.09B | $1.16B | $1.07B | $1.21B | $1.03B | $1.37B | $1.96B | $2.3B | $2.3B | $2.11B | $1.89B | $1.78B | $1.69B | $2.13B | $2.09B | $2.02B | $1.4B | $665M | $546M | $537M | $240M | $428M | $610M | $424.3M | $299.6M | $328.1M | $294.9M | $332M | $371.1M | $349M | $304.6M | $293M | $252.2M | $344.1M | $278.1M |
| Short-Term 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 |
| Cash and Short-Term Investments | $2.69B | $2.4B | $3.36B | $1.44B | $1.75B | $2.09B | $1.16B | $1.07B | $1.21B | $1.03B | $1.37B | $1.96B | $2.3B | $2.3B | $2.11B | $1.89B | $1.78B | $1.69B | $2.13B | $2.09B | $2.02B | $1.4B | $665M | $546M | $537M | $240M | $428M | $610M | $424.3M | $299.6M | $328.1M | $294.9M | $332M | $371.1M | $349M | $304.6M | $293M | $252.2M | $344.1M | $278.1M |
| Accounts Receivable | $7.67B | $7.16B | $6.42B | $5.85B | $5.59B | $5.33B | $5.24B | $4.32B | $4.13B | $3.64B | $3.16B | $3.38B | $3.31B | $3.06B | $2.91B | $3.04B | $2.72B | $2.75B | $2.87B | $2.72B | $2.73B | $2.86B | $2.7B | $2.48B | $2.69B | $2.81B | $2.3B | $1.91B | $1.5B | $1.09B | $1.13B | $955M | $853M | $827M | $690M | $748.2M | $618.1M | $535.6M | $502.5M | $544.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3M | -$6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $150M | $226M | $308M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $12.84B | $12.56B | $11.97B | $11.66B | $926M | $701M | $677M | $551M | $224M | $215M | $508M | $686M | $687M | $670M | $629M | $347M | $364M | $344M | $447M | $1.03B | $512M | $632M | $233M | $188M | -$53M | $587M | $557M | $726M | $646.6M | $363.2M | $218.5M | $196.1M | $127.4M | $62.3M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $23.2B | $22.12B | $21.75B | $18.96B | $8.26B | $8.12B | $7.07B | $5.93B | $5.56B | $4.88B | $5.04B | $6.02B | $6.25B | $6.02B | $5.65B | $5.28B | $4.87B | $4.78B | $5.45B | $5.83B | $5.26B | $4.89B | $3.9B | $3.66B | $3.79B | $3.64B | $3.28B | $3.25B | $2.57B | $1.75B | $1.68B | $1.45B | $1.31B | $1.26B | $1.04B | $1.05B | $911.1M | $787.8M | $846.6M | $822.4M |
| Long-Term Assets | ||||||||||||||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $2.29B | $2.36B | $2.42B | $2.43B | $2.71B | $2.75B | $2.78B | $701M | $712M | $725M | $773M | $809M | $828M | $809M | $804M | $822M | $952M | $969M | $992M | $1.04B | $1.18B | $1.39B | $1.39B | $1.31B | $1.24B | $1.36B | $1.31B | $1.29B | $957.3M | $770.1M | $757.5M | $740.3M | $688.1M | $707.8M | $734M | $759.4M | $681.4M | $619.5M | $353.3M | $266.8M |
| Goodwill | $24.34B | $23.31B | $17.23B | $16.25B | $16.32B | $15.52B | $14.67B | $9.6B | $9.09B | $8.37B | $7.89B | $7.24B | $6.89B | $6.79B | $6.56B | $3.04B | $2.72B | $7.16B | $7.76B | $7.78B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $5.21B | $4.82B | $2.63B | $3.03B | $2.81B | $2.7B | $2.77B | $1.44B | $1.27B | $1.13B | $1.04B | $692M | $472M | $469M | $401M | $0 | $0 | $0 | $0 | $0 | $7.77B | $8.14B | $5.8B | $5.4B | $5.33B | $5.48B | $5.54B | $4.83B | $2.42B | $545.3M | $729.7M | $701M | $660.1M | $687.8M | $411.9M | $425.8M | $291.6M | $285.5M | $293.9M | $258.6M |
| Long-Term Investments | $515M | $541M | $449M | $396M | $2.27B | $1.77B | $1.63B | $661M | $720M | $619M | $565M | $538M | $243M | $155M | $39M | $265M | $94M | $0 | $0 | $597M | $277M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $237M | $357M | $0 | $551M | $722M | $676M | $680M | $669M | $1.1B | $1.14B | $910M | $626M | $1.18B | $1.21B | $1.21B | $1.31B | $0 | $0 | -$597M | -$277M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $3.16B | $3.1B | $3.19B | $3.05B | $1.46B | $1.46B | $1.76B | $2.57B | $2.4B | $1.37B | $1.77B | $1.63B | $1.62B | $877M | $795M | $919M | $929M | $2.29B | $3.15B | $3.48B | $3.68B | $3.92B | $3.97B | $3.48B | $2.94B | $3.29B | $2.88B | $2.51B | $1.97B | $1.48B | $1.16B | $943.3M | $886M | $432.4M | $197.3M | $173.2M | $151.1M | $137.2M | $140.6M | $128.8M |
| Total Long-Term Assets | $35.51B | $34.36B | $26.28B | $25.16B | $26.12B | $24.91B | $24.25B | $15.64B | $14.87B | $13.31B | $13.17B | $11.82B | $10.68B | $10.28B | $9.81B | $10.03B | $10.46B | $10.42B | $11.9B | $12.3B | $12.63B | $13.45B | $11.15B | $10.19B | $9.5B | $10.13B | $9.74B | $8.63B | $5.35B | $2.8B | $2.65B | $2.38B | $2.23B | $1.83B | $1.34B | $1.36B | $1.12B | $1.04B | $787.8M | $654.2M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $58.71B | $56.48B | $48.03B | $44.11B | $34.39B | $33.03B | $31.32B | $21.58B | $20.43B | $18.19B | $18.22B | $17.84B | $16.93B | $16.31B | $15.45B | $15.31B | $15.32B | $15.21B | $17.36B | $18.14B | $17.89B | $18.34B | $15.05B | $13.86B | $13.29B | $13.77B | $13.02B | $11.87B | $7.91B | $4.55B | $4.33B | $3.83B | $3.55B | $3.09B | $2.38B | $2.41B | $2.04B | $1.83B | $1.63B | $1.48B |
| Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | $3.65B | $3.4B | $3.4B | $3.28B | $3.17B | $3.05B | $2.75B | $2.23B | $2.08B | $1.97B | $1.89B | $1.88B | $1.86B | $1.72B | $2.02B | $1.74B | $1.75B | $1.69B | $1.67B | $2.48B | $1.73B | $1.82B | $1.5B | $1.41B | $1.35B | $1.96B | $1.76B | $1.34B | $1.22B | $447.5M | $485.4M | $496.7M | $375.6M | $393.3M | $323.6M | $282.6M | $230.8M | $0 | $0 | $0 |
| Short-Term Debt | $1.27B | $519M | $1.62B | $268M | $17M | $517M | $1.22B | $314M | $262M | $312M | $12M | $11M | $334M | $260M | $260M | $8M | $558M | $408M | $260M | $1.11B | $498M | $636M | $447M | $543M | $757M | $337M | $1.13B | $2.23B | $237M | $392.4M | $571.1M | $403M | $273.8M | $207.4M | $10.3M | $66.6M | $34M | $142.7M | $140.1M | $103M |
| Current Income Tax Payable | $0 | $376M | $321M | $221M | $198M | $208M | $179M | $157M | $199M | $146M | $154M | $178M | $97M | $111M | $63M | $62M | $0 | $66M | $96M | $216M | $192M | $0 | $0 | $0 | $0 | $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 | $0 | $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 | $15.44B | $14.9B | $14.14B | $13.76B | $2.94B | $2.4B | $2.2B | $2.22B | $1.72B | $1.66B | $1.66B | $1.63B | $1.47B | $1.47B | $1.4B | $1.29B | $87M | $0 | $177M | $970M | $515M | $440M | $176M | $152M | $146M | $1.82B | $1.47B | $1.33B | $883M | $716.4M | $513M | $492.6M | $460.5M | $415.8M | $402.1M | $383.4M | $360.1M | $483.7M | $498.2M | $555.2M |
| Total Current Liabilities | $21.06B | $19.52B | $19.8B | $17.83B | $6.65B | $6.56B | $6.68B | $4.92B | $4.26B | $4.08B | $3.71B | $3.68B | $3.81B | $3.56B | $3.74B | $3.1B | $3.68B | $3.39B | $3.49B | $5.55B | $4.35B | $4.74B | $4.09B | $3.86B | $3.94B | $4.12B | $4.32B | $5B | $2.38B | $1.56B | $1.57B | $1.39B | $1.11B | $1.02B | $736M | $732.6M | $624.9M | $626.4M | $638.3M | $658.2M |
| Long-Term Liabilities | ||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | $18.32B | $19.43B | $11.84B | $11.23B | $10.93B | $10.8B | $10.74B | $5.51B | $5.22B | $4.5B | $4.4B | $3.37B | $2.62B | $2.66B | $2.67B | $3.03B | $3.03B | $3.19B | $3.6B | $3.86B | $5.04B | $4.69B | $2.91B | $2.89B | $2.33B | $2.35B | $2.36B | $1.59B | $1.24B | $458.2M | $410.6M | $409.4M | $409.8M | $411.2M | $318M | $319.9M | $319.4M | $266.2M | $16.4M | $14.5M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.8M | $11.7M | $13.1M | $16.5M | $63.6M | $85M |
| Other Long-Term Liabilities | $2.49B | $2.41B | $2.36B | $2.64B | $3.7B | $4.51B | $4.07B | $3.56B | $3.5B | $3.34B | $3.5B | $3.62B | $2.58B | $3.46B | $3.11B | $2.76B | $2.73B | $2.9B | $2.44B | $2.54B | $3.14B | $4.01B | $3.03B | $2.08B | $1.85B | $2.08B | $2.29B | $1.72B | $1.1B | $642.1M | $683.9M | $568.3M | $661.6M | $557.8M | $288.4M | $261.7M | $204.8M | $165.8M | $124.4M | $80.2M |
| Total Long-Term Liabilities | $22.34B | $23.43B | $15.87B | $15.53B | $16.51B | $17.23B | $16.73B | $9.07B | $8.72B | $7.84B | $7.91B | $6.98B | $5.2B | $6.12B | $5.78B | $5.79B | $5.76B | $6.1B | $6.04B | $6.4B | $8.18B | $8.7B | $5.94B | $4.97B | $4.18B | $4.42B | $4.64B | $3.31B | $2.34B | $1.1B | $1.09B | $977.7M | $1.07B | $969M | $611.2M | $593.3M | $537.3M | $448.5M | $204.4M | $179.7M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $43.4B | $42.95B | $35.66B | $33.37B | $23.17B | $23.79B | $23.41B | $13.99B | $12.99B | $11.92B | $11.61B | $10.66B | $9.01B | $9.68B | $9.51B | $8.89B | $9.47B | $9.48B | $9.54B | $12.32B | $12.53B | $13.44B | $9.6B | $8.84B | $8.6B | $8.54B | $9B | $8.21B | $4.68B | $2.66B | $2.66B | $2.37B | $2.18B | $1.99B | $1.35B | $1.33B | $1.16B | $1.07B | $842.7M | $837.9M |
| Stockholders' Equity | ||||||||||||||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $561M | $278M | $270M | $259M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | $27.77B | $25.31B | $22.76B | $20.3B | $18.39B | $16.27B | $15.2B | $14.35B | $13.14B | $12.39B | $11.3B | $10.34B | $9.45B | $8.63B | $7.95B | $7.44B | $7.03B | $7.24B | $7.73B | $5.69B | $4.99B | $5.04B | $5.39B | $4.49B | $3.72B | $3.32B | $2.67B | $2.41B | $2.01B | $1.9B | $1.69B | $1.51B | $1.35B | $1.21B | $1.14B | $1.03B | $909M | $794.4M | $673.3M | $535.5M |
| Comprehensive Income & Other | -$5.43B | -$6.24B | -$5.29B | -$5.31B | -$4.58B | -$5.11B | -$5.05B | -$4.65B | -$4.04B | -$5.09B | -$4.22B | -$3.85B | -$2.62B | -$3.31B | -$3.19B | -$2.3B | -$2.17B | -$2.1B | -$351M | -$1.27B | -$756M | -$370M | -$279M | -$452M | -$227M | -$149M | -$75M | $206M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | -$13.23B | -$12.53B | -$11.13B | -$10.34B | -$7.94B | -$7.73B | -$7.97B | -$7.4B | -$6.34B | -$6.76B | -$5.35B | -$3.84B | -$2.11B | -$2.65B | -$2.63B | -$1.63B | -$1.77B | -$2.08B | -$471M | -$433M | -$190M | -$549M | -$496M | -$33M | $889M | $1.63B | $1.23B | $988M | $1.22B | -$13M | -$22.9M | -$47.1M | $19.6M | -$109.4M | -$107.4M | $58.9M | -$36M | -$39.3M | $118.4M | $103.2M |
| Total Equity | $15.1B | $13.34B | $12.19B | $10.52B | $11.01B | $9.1B | $7.79B | $7.51B | $7.36B | $6.19B | $6.51B | $7.05B | $7.91B | $6.54B | $5.88B | $6.37B | $5.83B | $5.72B | $7.82B | $5.82B | $5.36B | $5.06B | $5.45B | $5.02B | $5.17B | $5.23B | $4.17B | $3.66B | $3.23B | $1.89B | $1.67B | $1.46B | $1.37B | $1.1B | $1.03B | $1.09B | $873M | $755.1M | $791.7M | $638.7M |
| Minority Interest | $215M | $193M | $179M | $229M | $213M | $156M | $150M | $73M | $83M | $80M | $89M | $79M | $70M | $64M | $57M | $47M | $35M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $58.49B | $56.29B | $47.85B | $43.88B | $34.17B | $32.89B | $31.21B | $21.5B | $20.35B | $18.11B | $18.13B | $17.71B | $16.91B | $16.22B | $15.4B | $15.26B | $15.3B | $15.21B | $17.36B | $18.14B | $17.89B | $18.5B | $15.05B | $13.86B | $13.77B | $13.77B | $13.17B | $11.87B | $7.91B | $4.55B | $4.33B | $3.83B | $3.55B | $3.09B | $2.38B | $2.41B | $2.04B | $1.83B | $1.63B | $1.48B |
| Supplementary Data | ||||||||||||||||||||||||||||||||||||||||
| Total Debt | $21.45B | $21.86B | $15.44B | $13.47B | $13.16B | $13.58B | $14.22B | $5.82B | $5.49B | $4.81B | $4.41B | $3.39B | $2.96B | $2.92B | $2.93B | $3.03B | $3.59B | $3.6B | $3.86B | $4.97B | $5.54B | $5.33B | $3.36B | $3.43B | $3.09B | $2.68B | $3.49B | $3.82B | $1.48B | $850.6M | $981.7M | $812.4M | $683.6M | $618.6M | $328.3M | $386.5M | $353.4M | $408.9M | $156.5M | $117.5M |
| Net Debt | $18.76B | $19.46B | $12.08B | $12.03B | $11.41B | $11.49B | $13.07B | $4.76B | $4.28B | $3.78B | $3.04B | $1.43B | $652M | $617M | $815M | $1.14B | $1.81B | $1.92B | $1.73B | $2.88B | $3.52B | $3.93B | $2.69B | $2.89B | $2.55B | $2.44B | $3.06B | $3.21B | $1.05B | $551M | $653.6M | $517.5M | $351.6M | $247.5M | -$20.7M | $81.9M | $60.4M | $156.7M | -$187.6M | -$160.6M |
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 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 | FY 1996 | FY 1995 | FY 1994 | FY 1993 | FY 1992 | FY 1991 | FY 1990 | FY 1989 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | 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 | 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 | 1996-12-31 | 1995-12-31 | 1994-12-31 | 1993-12-31 | 1992-12-31 | 1991-12-31 | 1990-12-31 | 1989-12-31 |
| Operating Activities | |||||||||||||||||||||||||||||||||||||
| Net Income | $4.23B | $4.06B | $3.8B | $3.09B | $3.17B | $2.05B | $1.77B | $1.67B | $1.51B | $1.79B | $1.64B | $1.5B | $1.39B | $1.2B | $1.01B | $871M | $242M | $80M | $538M | $818M | $404M | $176M | $1.54B | $1.36B | $974M | $1.18B | $726M | $796M | $399.4M | $459.3M | $402.9M | $371.5M | $62.6M | $263.7M | $305.5M | $304.1M | $294.9M |
| Depreciation & Amortization | $910M | $746M | $713M | $719M | $747M | $741M | $647M | $494M | $481M | $438M | $423M | $388M | $358M | $349M | $332M | $357M | $365M | $404M | $442M | $488M | $490M | $456M | $391M | $359M | $520M | $488M | $431M | $272M | $199M | $140M | $135.1M | $120.6M | $119.9M | $112M | $113.1M | $105M | $89.3M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$63M | $40M | $84M | -$39M | $396M | $68M | $178M | $127M | $184M | $96M | $178M | $16M | $42M | $103M | $12M | $60M | $36M | -$71M | $90M | $176M | -$67M | $175M | $32M | $79M | -$157.1M | -$20.8M | $34.7M | $48M | $94.2M | -$11.1M | -$6.9M | -$1.4M | -$3.4M |
| Stock-Based Compensation | $394M | $368M | $363M | $367M | $348M | $290M | $252M | $193M | $149M | $109M | $88M | $93M | $18M | $26M | $21M | $18M | $11M | $34M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||||||||||||||||
| Accounts Receivable | -$128M | -$467M | -$467M | -$492M | -$252M | -$75M | -$130M | -$78M | -$454M | -$154M | -$52M | -$58M | -$245M | -$144M | $143M | -$216M | -$81M | $270M | -$321M | -$157M | $57M | -$107M | -$199M | $0 | $122M | -$484M | -$465M | -$171M | -$155M | -$95M | -$177M | -$77.7M | -$38.4M | $9.8M | $58.4M | -$105.9M | -$76.9M |
| Inventory | $0 | $0 | $0 | $0 | $252M | $75M | $130M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $225M | $241M | $120M | $23M | $87M | $55M | -$125M | $45M | $106M | -$210M | $108M | -$55M | $124M | -$149M | -$350M | $0 | $0 | $858M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$390M | -$608M | -$441M | -$520M | -$870M | -$378M | -$816M | -$247M | -$249M | -$266M | -$220M | -$61M | -$450M | $41M | -$191M | -$212M | -$442M | -$272M | -$551M | -$861M | -$450M | $957M | $145M | -$553M | -$192M | $14M | $307M | $404M | $0 | $105M | $5.9M | $53.1M | -$7.2M | $45.3M | $86.6M | $81.4M | $100.5M |
| Total Working Capital Change | -$518M | -$1.07B | -$908M | -$1.01B | -$645M | -$137M | -$696M | -$302M | -$616M | -$365M | -$397M | -$74M | -$589M | -$313M | $60M | -$483M | -$399M | -$151M | -$1.22B | -$336M | -$393M | $1.71B | -$54M | -$553M | -$45M | -$470M | -$158M | $233M | -$350.9M | $10M | -$171.1M | -$24.6M | -$45.6M | $55.1M | $145M | -$24.5M | $23.6M |
| Other Non-Cash Items | $272M | $203M | $288M | $304M | -$45M | $402M | $301M | $412M | -$29M | -$38M | -$40M | $81M | -$15M | -$37M | $99M | -$57M | $379M | $470M | -$1M | -$152M | -$138M | -$200M | -$100M | -$67M | -$5M | -$10M | -$31M | -$247M | $325M | -$272M | -$83.5M | -$147M | $6.5M | -$74.6M | -$75.8M | -$9M | $43.8M |
| Net Cash from Operating | $5.29B | $4.3B | $4.26B | $3.46B | $3.52B | $3.38B | $2.36B | $2.43B | $1.89B | $2.01B | $1.89B | $2.11B | $1.34B | $1.32B | $1.71B | $722M | $640M | $940M | -$231M | $878M | $399M | $2.07B | $1.87B | $1.28B | $1.38B | $1.36B | $1B | $1.13B | $415.4M | $316.5M | $318.1M | $368.5M | $237.6M | $345.1M | $480.9M | $374.2M | $448.2M |
| Investing Activities | |||||||||||||||||||||||||||||||||||||
| Capital Expenditures | -$291M | -$316M | -$416M | -$470M | -$406M | -$348M | -$421M | -$314M | -$302M | -$253M | -$325M | -$368M | -$401M | -$320M | -$280M | -$271M | -$305M | -$386M | -$378M | -$307M | -$345M | -$376M | -$436M | -$423M | -$433M | -$512M | -$715M | -$599M | -$675M | -$157.3M | -$136.9M | -$149.1M | -$98.8M | -$82.8M | -$81.2M | -$154.7M | -$160.7M |
| Acquisitions | -$652M | -$8.45B | -$993M | -$453M | -$775M | -$570M | -$4.23B | -$774M | -$655M | -$813M | -$881M | -$858M | -$137M | -$292M | -$237M | $710M | $2M | -$126M | -$206M | $154M | -$74M | -$2.36B | -$178M | -$92M | -$53M | -$99M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$24M | -$108M | -$57M | -$22M | $406M | $348M | $0 | $0 | -$13M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $305M | $0 | $3.37B | -$107M | $202M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $100M | $55M | $38M | $86M | $17M | $104M | $0 | $4M | $0 | $2M | $0 | $0 | $0 | $0 | $0 | $0 | $53M | $97M | $57M | $136M | $318M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $22M | $1M | $11M | $9M | -$406M | -$327M | $255M | -$5M | $14M | $8M | -$59M | $4M | $92M | $29M | $60M | $96M | -$291M | $67M | $1M | -$12M | $52M | $184M | $144M | $242M | -$47M | $81M | -$130M | $12M | -$300K | $143.5M | -$61.2M | -$74.3M | -$59.5M | -$308.4M | $58.3M | -$47.5M | -$17.3M |
| Net Cash from Investing | -$845M | -$8.82B | -$1.42B | -$850M | -$1.16B | -$793M | -$4.39B | -$1.09B | -$956M | -$1.06B | -$1.26B | -$1.22B | -$446M | -$583M | -$457M | $535M | -$236M | -$348M | $2.84B | -$136M | $153M | -$2.56B | -$470M | -$273M | -$533M | -$530M | -$845M | -$587M | -$675.3M | -$13.8M | -$198.1M | -$223.4M | -$158.3M | -$391.2M | -$22.9M | -$202.2M | -$178M |
| Financing Activities | |||||||||||||||||||||||||||||||||||||
| Debt Repaid | $519M | -$6.55B | -$1.9B | -$619M | $273M | $778M | -$5.11B | -$328M | -$672M | -$335M | -$1.03B | -$1.05B | -$287M | $11M | -$485M | $559M | $10M | $260M | $1.12B | $566M | -$351M | -$2.26B | $72M | -$282M | -$407M | $802M | $363M | -$66M | -$495M | $1M | -$174.5M | -$121M | -$63.8M | -$207M | $60.2M | -$32.1M | $64.6M |
| Common Stock Issuance | $250M | $264M | $199M | $126M | $161M | $132M | $0 | $93M | $166M | $188M | $224M | $263M | $352M | $248M | $162M | $41M | $34M | $68M | $186M | $181M | $269M | $456M | $573M | $490M | $387M | $364M | $489M | $185M | $210M | $143.1M | $82.6M | $68.6M | $75.6M | $96.1M | $69.2M | $52.8M | $61.2M |
| Common Stock Repurchases | -$2.01B | -$900M | -$1.15B | -$1.95B | -$1.16B | $0 | -$574M | -$742M | -$949M | -$839M | -$1.45B | -$864M | -$629M | -$327M | -$454M | -$145M | $0 | $0 | -$1.3B | $0 | $0 | -$536M | -$1.2B | -$1.18B | -$763M | -$49M | -$13M | -$242M | $0 | -$230.1M | -$137.7M | -$142.8M | -$49.5M | -$28.2M | -$225.6M | -$78.4M | -$47.1M |
| Dividends Paid | -$1.7B | -$1.51B | -$1.3B | -$1.14B | -$1.03B | -$943M | -$880M | -$807M | -$740M | -$682M | -$632M | -$582M | -$533M | -$497M | -$480M | -$452M | -$431M | -$412M | -$413M | -$374M | -$363M | -$681M | -$631M | -$593M | -$567M | -$514M | -$447M | -$375M | -$306M | -$239M | -$217M | -$206.4M | -$198.5M | -$191.1M | -$190.6M | -$186.7M | -$179.7M |
| Other Financing Activities | -$654M | $51M | -$426M | $1.62B | $1B | $664M | $675M | -$54M | $8M | $69M | $145M | $195M | $315M | -$46M | -$792M | -$74M | $0 | -$39M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2M | $4.8M | -$30.2M | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | -$4.63B | $4.46B | -$1.12B | -$1.05B | -$1.3B | -$925M | $4.33B | -$1.31B | -$1.01B | -$1.07B | -$906M | -$961M | -$834M | -$633M | -$1.01B | -$1.13B | -$464M | -$540M | -$2.64B | -$759M | $128M | $1.19B | -$1.32B | -$1B | -$536M | -$1B | -$334M | -$366M | $398.9M | -$325M | -$92.8M | -$189.8M | -$108.6M | $83.8M | -$407.2M | -$180.2M | -$230.2M |
| Forex Effect | $673M | -$414M | $328M | -$841M | -$355M | $511M | $135M | -$168M | $251M | -$232M | -$301M | -$274M | -$59M | $82M | -$22M | -$10M | $152M | -$397M | $77M | $73M | -$43M | $28M | $47M | $7M | -$11M | -$21M | -$3M | $6M | -$14.3M | -$6.2M | $6M | $7.6M | -$9.8M | -$15.6M | -$6.4M | $19.8M | $800K |
| Net Change in Cash | $486M | -$478M | $2.05B | $728M | $700M | $2.17B | $2.43B | -$139M | $179M | -$348M | -$584M | -$345M | $2M | $188M | $219M | $117M | $92M | -$448M | $44M | $56M | $637M | $731M | $119M | $9M | $297M | -$188M | -$182M | $186M | $124.7M | -$28.5M | $33.2M | -$37.1M | -$39.1M | $22.1M | $44.4M | $11.6M | $40.8M |
| Supplementary Data | |||||||||||||||||||||||||||||||||||||
| Operating Cash Flow | $5.29B | $4.3B | $4.26B | $3.46B | $3.52B | $3.38B | $2.36B | $2.43B | $1.89B | $2.01B | $1.89B | $2.11B | $1.34B | $1.32B | $1.71B | $722M | $640M | $837M | -$231M | $878M | $399M | $2.07B | $1.87B | $1.28B | $1.38B | $1.36B | $1B | $1.13B | $415.4M | $316.5M | $318.1M | $368.5M | $237.6M | $345.1M | $480.9M | $374.2M | $448.2M |
| Capital Expenditure | -$291M | -$316M | -$416M | -$470M | -$406M | -$348M | -$421M | -$314M | -$302M | -$253M | -$325M | -$368M | -$401M | -$320M | -$280M | -$271M | -$305M | -$386M | -$378M | -$307M | -$345M | -$376M | -$436M | -$423M | -$433M | -$512M | -$715M | -$599M | -$675M | -$157.3M | -$136.9M | -$149.1M | -$98.8M | -$82.8M | -$81.2M | -$154.7M | -$160.7M |
| Free Cash Flow | $5B | $3.99B | $3.84B | $3B | $3.11B | $3.03B | $1.94B | $2.11B | $1.59B | $1.75B | $1.56B | $1.74B | $940M | $1B | $1.43B | $451M | $335M | $451M | -$609M | $571M | $54M | $1.69B | $1.43B | $857M | $944M | $852M | $285M | $534M | -$259.6M | $159.2M | $181.2M | $219.4M | $138.8M | $262.3M | $399.7M | $219.5M | $287.5M |
| Cash at Beginning | $13.67B | $14.15B | $12.1B | $11.37B | $10.67B | $8.5B | $6.07B | $1.21B | $1.03B | $1.37B | $1.96B | $2.3B | $2.3B | $2.11B | $1.89B | $1.78B | $1.69B | $2.13B | $2.09B | $2.03B | $1.4B | $665M | $546M | $537M | $240M | $428M | $610M | $424M | $299.6M | $328.1M | $294.9M | $332M | $371.1M | $349M | $304.6M | $293M | $252.2M |
| Cash at End | $14.16B | $13.67B | $14.15B | $12.1B | $11.37B | $10.67B | $8.5B | $1.07B | $1.21B | $1.03B | $1.37B | $1.96B | $2.3B | $2.3B | $2.11B | $1.89B | $1.78B | $1.69B | $2.13B | $2.09B | $2.03B | $1.4B | $665M | $546M | $537M | $240M | $428M | $610M | $424.3M | $299.6M | $328.1M | $294.9M | $332M | $371.1M | $349M | $304.6M | $293M |