ServisFirst Bancshares, Inc. (SFBS)
ServisFirst Bancshares, Inc. operates as the parent entity for ServisFirst Bank, providing a comprehensive range of financial solutions to both individual consumers and corporate clients. Its deposit offerings encompass checking, savings, money market, and individual retirement accounts, in addition to certificates of deposit. The company extends diverse lending options, including commercial credit facilities for working capital, business expansion, and the acquisition of property, plant, and equipment, alongside commercial lines of credit. It also finances commercial and residential real estate, as well as construction and development ventures. For individuals, consumer loans cover home equity, vehicle purchases, and both secured and unsecured personal financing. Beyond these core services, ServisFirst Bancshares offers modern conveniences such as telephone and mobile banking, direct deposit, online banking, ATMs, debit cards, and Visa credit cards. Specialized services include treasury and cash management, wire transfers, night depository, banking-by-mail, remote capture, and correspondent banking for other financial institutions. The company also manages its subsidiary's participations in residential mortgages and commercial real estate loans originated across Alabama, Florida, Georgia, and Tennessee. Founded in 2005 and based in Birmingham, Alabama, ServisFirst Bancshares maintains 23 full-service branches throughout Alabama, Florida, Georgia, South Carolina, and Tennessee, complemented by two loan production offices located in Florida.
Sector: State Commercial Banks
Industry: Banks - Regional
ServisFirst Bancshares, Inc.
NYSE:SFBSFinancial Services · Banks - Regional
-0.32%$41.09
AH Close$41.09+0.00%vs close
AH Close$41.09+0.00%vs close
Mkt Cap$4.49B
Float103.02M
O/S109.35M
Inst Own73.7%
SI6.0%
Div Yield1.85%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.02B
Net Income$276.6M
Total Assets$17.73B
Free Cash Flow$349.26M
Debt & Equity
Debt 45%
Equity 55%
Total Debt$1.51B
Total Equity$1.85B
Shares Outstanding
Short Interest
Split History3 splits
- 2:1Forward splitAug 21, 20261 share → 2
- 2:1Forward splitDec 21, 20161 share → 2
- 3:1Forward splitJul 17, 20141 share → 3
Balance Sheet Details
Assets$17.73B
Liabilities$15.88B
Accounts Receivable$61.96M
Accounts Payable$29.99M
Inventory$0
PP&E (Net)$60.4M
Goodwill$13.62M
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 | FY 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $1.02B | $977.12M | $828.82M | $580.46M | $437.43M | $413.9M | $410.56M | $342.61M | $275.34M | $223.14M | $186.57M | $151.22M | $133.6M | $115.5M | $95.93M | $82.29M | $66.61M | $78.63M | $78.73M |
| YoY Growth | 4.1% | 17.9% | 42.8% | 32.7% | 5.7% | 0.8% | 19.8% | 24.4% | 23.4% | 19.6% | 23.4% | 13.2% | 15.7% | 20.4% | 16.6% | 23.5% | -15.3% | -0.1% | - |
| Cost of Revenue | $490.53M | $521.05M | $421.02M | $126.03M | $63.32M | $93.42M | $125.8M | $85.35M | $58.56M | $39.2M | $30.55M | $24.38M | $26.63M | $24M | $25.05M | $25.61M | $29.02M | $26.75M | $29.41M |
| Gross Profit | $526.97M | $456.07M | $407.79M | $454.43M | $374.11M | $320.48M | $284.76M | $257.26M | $216.78M | $183.94M | $156.01M | $126.84M | $106.98M | $91.5M | $70.88M | $56.68M | $37.59M | $51.88M | $49.32M |
| Gross Margin | 51.8% | 46.7% | 49.2% | 78.3% | 85.5% | 77.4% | 69.4% | 75.1% | 78.7% | 82.4% | 83.6% | 83.9% | 80.1% | 79.2% | 73.9% | 68.9% | 56.4% | 66.0% | 62.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $109.41M | $108.76M | $98.14M | $83.69M | $74.56M | $66.74M | $61.88M | $56.74M | $52.71M | $48.31M | $42.54M | $33.95M | $29M | $24.92M | $21.95M | $18.14M | $16.4M | $26.9M | $10.36M |
| Other | $75.42M | $68.32M | $65.06M | $61.91M | $46.2M | $39.53M | $36.02M | $31.67M | $26.73M | $24.81M | $24.47M | $18.91M | $16M | $15.01M | $13.1M | $11.8M | $12.53M | $14.15M | $30.31M |
| Total Operating Expenses | $184.84M | $177.09M | $163.2M | $145.6M | $120.76M | $106.27M | $97.9M | $88.41M | $79.44M | $73.12M | $67.01M | $52.86M | $45M | $39.93M | $35.05M | $29.94M | $28.93M | $41.05M | $40.67M |
| Operating Income (EBIT) | $342.13M | $278.98M | $244.59M | $308.83M | $253.35M | $214.21M | $186.86M | $168.84M | $137.35M | $110.82M | $89M | $73.98M | $61.98M | $51.56M | $35.83M | $27M | $8.66M | $10.8M | $8.65M |
| Operating Margin | 33.6% | 28.6% | 29.5% | 53.2% | 57.9% | 51.8% | 45.5% | 49.3% | 49.9% | 49.7% | 47.7% | 48.9% | 46.4% | 44.6% | 37.3% | 32.8% | 13.0% | 13.7% | 11.0% |
| Interest Expense | $455.22M | $499.46M | $402.31M | $88.42M | $31.8M | $50.98M | $103.16M | $63.95M | $35.33M | $25.8M | $17.7M | $14.12M | $13.62M | $14.9M | $16.08M | $15.26M | $18.34M | $20.5M | $25.87M |
| Interest Income | $990.43M | $946.12M | $813.25M | $559.32M | $416.31M | $389.02M | $390.8M | $326.63M | $262.76M | $212.9M | $179.97M | $144.72M | $126.08M | $109.02M | $91.41M | $78.15M | $62.2M | $55.45M | $51.42M |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$261K | $0 | $0 | $0 |
| Income Before Tax (EBT) | $342.13M | $278.98M | $244.59M | $308.83M | $253.35M | $214.21M | $186.86M | $168.84M | $137.35M | $110.82M | $89M | $73.98M | $61.98M | $51.56M | $35.83M | $26.74M | $8.66M | $10.8M | $8.65M |
| Income Tax Expense | $65.53M | $51.74M | $37.73M | $57.32M | $45.62M | $44.64M | $37.62M | $31.9M | $44.26M | $29.34M | $25.46M | $21.6M | $20.36M | $17.12M | $12.39M | $9.36M | $2.78M | $3.83M | $3.15M |
| Net Income | $276.6M | $227.24M | $206.85M | $251.5M | $207.73M | $169.57M | $149.24M | $136.94M | $93.09M | $81.48M | $63.54M | $52.38M | $41.62M | $34.45M | $23.44M | $17.38M | $5.88M | $7M | $5.5M |
| Net Income Margin | 27.2% | 23.3% | 25.0% | 43.3% | 47.5% | 41.0% | 36.4% | 40.0% | 33.8% | 36.5% | 34.1% | 34.6% | 31.1% | 29.8% | 24.4% | 21.1% | 8.8% | 8.9% | 7.0% |
| Supplementary Data | |||||||||||||||||||
| EPS | 2.53 | 2.08 | 1.90 | 2.31 | 1.92 | 1.57 | 1.40 | 1.29 | 0.88 | 0.78 | 0.61 | 0.55 | 0.50 | 0.34 | 0.23 | 0.17 | 0.06 | 0.11 | 0.10 |
| Diluted EPS | 2.53 | 2.08 | 1.90 | 2.31 | 1.91 | 1.56 | 1.38 | 1.26 | 0.86 | 0.76 | 0.60 | 0.53 | 0.42 | 0.34 | 0.23 | 0.17 | 0.06 | 0.11 | 0.10 |
| Weighted Average OS | 109.33M | 109.06M | 109.07M | 108.60M | 108.32M | 107.69M | 107.06M | 106.35M | 105.77M | 104.90M | 102.85M | 95.42M | 98.10M | 98.10M | 98.10M | 98.10M | 98.10M | 68.28M | 55.41M |
| EBITDA | $346.86M | $283.77M | $249.02M | $312.95M | $257.74M | $218.31M | $190.81M | $172.49M | $140.19M | $113.88M | $91.6M | $75.82M | $63.82M | $52.78M | $37M | $28.06M | $9.74M | $12.86M | $8.65M |
| EBITDA Margin | 34.1% | 29.0% | 30.0% | 53.9% | 58.9% | 52.7% | 46.5% | 50.3% | 50.9% | 51.0% | 49.1% | 50.1% | 47.8% | 45.7% | 38.6% | 34.1% | 14.6% | 16.3% | 11.0% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | |||||||||||||||||||
| Current Assets | |||||||||||||||||||
| Cash and Cash Equivalents | $95.13M | $2.38B | $2.03B | $814.54M | $4.16B | $2.21B | $530.13M | $458.05M | $238.06M | $623.56M | $317.45M | $297.46M | $249.78M | $177.45M | $142.37M | $231.63M | $26.98M | $22.84M | $0 |
| Short-Term Investments | $1.07B | $443M | $825.93M | $644.82M | $842.57M | $886.69M | $759.4M | $590.18M | $538.08M | $422.38M | $342.94M | $298.81M | $266.22M | $233.88M | $293.81M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.16B | $2.82B | $2.86B | $1.46B | $5.01B | $3.1B | $1.29B | $1.05B | $776.14M | $1.05B | $660.39M | $594.88M | $516M | $411.33M | $436.18M | $231.63M | $26.98M | $22.84M | $0 |
| Accounts Receivable | $61.96M | $62.79M | $59.18M | $48.42M | $34.83M | $36.84M | $26.26M | $24.07M | $20.66M | $15.8M | $13.7M | $11.21M | $10.26M | $9.16M | $8.19M | $6.99M | $6.2M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$6.2M | $0 | $0 |
| Other Current Assets | -$61.96M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$492K | $0 | $0 | $0 | $1.54B | -$22.28M | $71.99M |
| Total Current Assets | $1.16B | $2.88B | $2.92B | $1.51B | $5.04B | $3.13B | $1.32B | $1.07B | $796.8M | $1.06B | $674.09M | $606.1M | $525.77M | $420.49M | $444.37M | $238.62M | $1.57B | $561K | $71.99M |
| Long-Term Assets | |||||||||||||||||||
| Property, Plant & Equipment Net | $60.4M | $59.19M | $59.32M | $59.85M | $60.3M | $54.97M | $56.5M | $57.82M | $58.9M | $40.31M | $19.43M | $7.82M | $8.35M | $8.85M | $4.59M | $4.45M | $5.1M | $3.9M | $4.18M |
| Goodwill | $13.62M | $13.62M | $13.62M | $13.62M | $13.6M | $0 | $0 | $0 | $0 | $0 | $13.62M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $38K | $13.91M | $14.18M | $14.45M | $14.72M | $15M | $1.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $14.2B | $13.88B | $12.57B | $12.58B | $9.88B | $8.39B | $7.19B | $6.47B | $5.8B | $4.93B | $4.21B | $3.36B | $2.87B | $2.39B | $1.84B | $1.67B | $259M | $105M | $0 |
| Deferred Tax Assets | $62.61M | $61.75M | $62.92M | $60.45M | $37.77M | $31.07M | $25.57M | $27.28M | $13.02M | $27.13M | $23.43M | $15.72M | $11.02M | $7.39M | $4.91M | $6.37M | $4.87M | $3.58M | $2.43M |
| Other Long-Term Assets | -$14.26B | $451.87M | $510.68M | $376.67M | $415.63M | $307.12M | $344.19M | $370.51M | $401.34M | $298.13M | $149.65M | $109.48M | $106.95M | $80.88M | $165.13M | $15.41M | -$259.6M | $15K | -$6.61M |
| Total Long-Term Assets | $74.01M | $14.47B | $13.21B | $13.09B | $10.41B | $8.8B | $7.63B | $6.94B | $6.29B | $5.31B | $4.42B | $3.49B | $2.99B | $2.49B | $2.02B | $1.7B | $4.5M | $112.5M | $0 |
| Other Assets | $16.49B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.47B | $1.05B | $763.82M |
| Total Assets | $17.73B | $17.35B | $16.13B | $14.6B | $15.45B | $11.93B | $8.95B | $8.01B | $7.08B | $6.37B | $5.1B | $4.1B | $3.52B | $2.91B | $2.46B | $1.94B | $1.57B | $1.16B | $835.82M |
| Liabilities | |||||||||||||||||||
| Current Liabilities | |||||||||||||||||||
| Accounts Payable | $29.99M | $28.03M | $27.55M | $18.61M | $13.62M | $12.32M | $11.93M | $10.38M | $4.97M | $4.4M | $2.37M | $1.94M | $769K | $942K | $945K | $898K | $1M | $1.3M | $0 |
| Short-Term Debt | $1.47B | $1.99B | $1.26B | $1.62B | $1.71B | $851.54M | $470.75M | $288.73M | $301.8M | $355.94M | $352.36M | $264.31M | $174.38M | $117.06M | $79.27M | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $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 |
| Other Current Liabilities | $2.65B | $13.54B | $13.27B | $11.55B | $12.45B | $9.98B | $7.53B | $6.92B | $6.09B | $5.42B | $4.22B | $3.4B | $3.02B | $2.51B | $2.14B | $1.76B | $1.45B | $1.05B | $691.91M |
| Total Current Liabilities | $4.16B | $15.57B | $14.56B | $13.18B | $14.18B | $10.84B | $8.01B | $7.21B | $6.4B | $5.78B | $4.58B | $3.66B | $3.19B | $2.63B | $2.22B | $1.76B | $1.45B | $1.06B | $691.91M |
| Long-Term Liabilities | |||||||||||||||||||
| Long-Term Debt | $34.75M | $64.74M | $64.73M | $64.73M | $64.71M | $64.75M | $64.7M | $64.67M | $64.83M | $55.26M | $55.64M | $19.97M | $19.94M | $34.97M | $35.47M | $55.36M | $40.15M | $35.09M | $73K |
| Long-Term Unearned Revenue | $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 |
| Other Long-Term Liabilities | $15.84B | $104.92M | $66.75M | $48.91M | $53.85M | $35.46M | $27.15M | $12.7M | $11.51M | $11.64M | $12.11M | $7.08M | $8.78M | $8.51M | $4.93M | $3.1M | -$15.25M | $0 | -$73K |
| Total Long-Term Liabilities | $15.88B | $169.66M | $131.48M | $113.64M | $118.56M | $100.21M | $91.86M | $77.36M | $76.34M | $66.9M | $67.75M | $27.05M | $28.72M | $43.48M | $40.4M | $58.45M | $24.9M | $20M | $0 |
| Other Liabilities | -$4.16B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $71.66M |
| Total Liabilities | $15.88B | $15.73B | $14.69B | $13.3B | $14.3B | $10.94B | $8.1B | $7.29B | $6.47B | $5.85B | $4.65B | $3.69B | $3.22B | $2.67B | $2.26B | $1.82B | $1.48B | $1.08B | $763.57M |
| Stockholders' Equity | |||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $39.96M | $39.96M | $39.96M | $39.96M | $0 | $0 | $0 | $0 |
| Common Stock | $54K | $54K | $54K | $54K | $54K | $54K | $54K | $53K | $53K | $53K | $26K | $25K | $7K | $6K | $6K | $6K | $6K | $5K | $5K |
| Retained Earnings | $1.61B | $1.41B | $1.25B | $1.11B | $911.01M | $748.22M | $616.61M | $500.87M | $389.6M | $307.15M | $234.15M | $177.09M | $130.01M | $92.49M | $61.58M | $38.34M | $21M | $15.1M | $8.08M |
| Comprehensive Income & Other | -$1.79M | -$32.18M | -$47.59M | -$42.25M | $14.06M | $20.22M | $5.75M | -$4.74M | -$198K | -$624K | $3.05M | $4.49M | $3.89M | $7.3M | $6.94M | $2.84M | $2M | $1M | $1M |
| Other Stockholders' Equity | $236.05M | $203.6M | $185.01M | $187.44M | $240.45M | $244.07M | $225.51M | $213.78M | $217.45M | $215.31M | $214.59M | $229.84M | $167.17M | $140.76M | $134.71M | $78.75M | $76.59M | $71.69M | $64.16M |
| Total Equity | $1.85B | $1.62B | $1.44B | $1.3B | $1.15B | $992.35M | $842.18M | $714.7M | $607.1M | $522.51M | $448.77M | $406.96M | $297.19M | $233.26M | $196.29M | $117.1M | $97.6M | $86.8M | $72.25M |
| Minority Interest | $500K | $500K | $500K | $500K | $500K | $500K | $502K | $502K | $502K | $377K | $377K | $252K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $17.73B | $17.35B | $16.13B | $14.6B | $15.45B | $11.93B | $8.95B | $8.01B | $7.08B | $6.37B | $5.1B | $4.1B | $3.52B | $2.91B | $2.46B | $1.94B | $1.57B | $1.16B | $835.82M |
| Supplementary Data | |||||||||||||||||||
| Total Debt | $1.51B | $2.06B | $1.32B | $1.68B | $1.78B | $916.29M | $535.45M | $353.39M | $366.63M | $411.21M | $408M | $284.29M | $194.32M | $152.03M | $114.73M | $55.36M | $40.2M | $35.1M | $73K |
| Net Debt | $1.41B | -$317.12M | -$709.05M | $868.99M | -$2.39B | -$1.29B | $5.33M | -$104.66M | $128.57M | -$212.36M | $90.55M | -$12.29M | -$55.46M | -$25.42M | -$27.64M | -$176.28M | $13.22M | $12.26M | $73K |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | |||||||||||||||||||
| Net Income | $276.6M | $227.24M | $206.85M | $251.5M | $207.73M | $169.57M | $149.24M | $136.94M | $93.09M | $81.48M | $63.54M | $52.38M | $41.62M | $34.45M | $23.44M | $17.38M | $5.88M | $7M | $5.5M |
| Depreciation & Amortization | $4.73M | $4.79M | $4.44M | $4.12M | $4.39M | $4.1M | $3.95M | $3.65M | $2.85M | $3.06M | $2.6M | $1.84M | $1.84M | $1.22M | $1.17M | $1.07M | $1.09M | $900K | $0 |
| Deferred Income Tax | $1.83M | -$3.35M | -$1M | -$2.62M | -$5.06M | -$9.72M | -$1.07M | -$14.09M | $14.13M | -$1.53M | -$4.72M | -$4.81M | -$1.8M | -$2.18M | -$1.24M | -$2.21M | -$1.6M | -$1.2M | $0 |
| Stock-Based Compensation | $2.96M | $3.49M | $3.6M | $3.21M | $1.85M | $1.33M | $1.1M | $851K | $1.17M | $1.2M | $1.26M | $3.68M | $1.21M | $1.05M | $975K | $713K | $785K | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||
| Accounts Receivable | $838K | -$3.61M | -$10.76M | -$13.59M | $2.01M | -$10.58M | -$2.19M | -$3.41M | -$4.86M | -$2.1M | -$2M | -$952K | -$1.1M | -$966K | -$1.2M | -$790K | -$2.17M | -$77K | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $8.93M | $5M | $1.3M | $387K | $1.55M | $5.41M | $570K | $2.03M | $340K | $1.17M | -$173K | -$3K | $47K | -$128K | -$254K | $0 | $0 |
| Other Working Capital | -$19.14M | -$5.59M | -$44.63M | -$32.46M | -$12.79M | -$5.48M | -$7.9M | $10.04M | -$15.47M | -$6.39M | $1.16M | -$5.09M | -$1.9M | $2.17M | -$190K | $1.11M | -$8.66M | -$3.45M | $1.05M |
| Total Working Capital Change | -$18.3M | -$9.2M | -$46.46M | -$41.05M | -$9.48M | -$15.67M | -$8.54M | $12.04M | -$19.76M | -$6.46M | -$500K | -$4.87M | -$3.18M | $1.2M | -$1.34M | $188K | -$11.09M | -$3.45M | $1.05M |
| Other Non-Cash Items | $87.39M | $29.95M | $29.88M | $57.46M | $66.89M | $41.68M | $19.59M | $28.92M | $26.99M | $20.78M | $14.09M | $16.88M | $34.52M | $5.46M | $1.32M | $12.44M | $7.4M | $8.95M | $3.66M |
| Net Cash from Operating | $355.2M | $252.91M | $197.3M | $272.63M | $266.33M | $191.29M | $164.28M | $168.3M | $118.46M | $98.52M | $76.27M | $65.09M | $74.2M | $41.18M | $24.32M | $29.57M | $2.46M | $12.2M | $10.21M |
| Investing Activities | |||||||||||||||||||
| Capital Expenditures | -$5.94M | -$4.65M | -$3.91M | -$3.65M | -$9.45M | -$2.31M | -$2.36M | -$2.3M | -$21.15M | -$22.2M | -$5.54M | -$1.31M | -$1.35M | -$5.47M | -$1.31M | -$428K | -$2.29M | -$800K | -$2.19M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$12.38M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$564.44M | -$1.2B | -$1.06B | -$744.9M | -$751.58M | -$335.23M | -$294.08M | -$156.81M | -$149.02M | -$198.99M | -$89.09M | -$67.54M | -$102.03M | -$60.35M | -$117.63M | -$89.17M | -$201.78M | -$23.82M | -$95.08M |
| Sales of Investments | $659.87M | $1.22B | $846.58M | $266.1M | $276.96M | $220.99M | $136.19M | $97.52M | $94.36M | $79.06M | $65.14M | $36.24M | $49.66M | $108.07M | $97.86M | $64.19M | $49.15M | $9.43M | $36.82M |
| Other Investing Activities | -$1.24B | -$959.92M | $16.74M | -$2.16B | -$1.08B | -$1.29B | -$828.1M | -$692.88M | -$966.44M | -$719.52M | -$707.61M | -$516.49M | -$517.98M | -$552.05M | -$486.66M | -$189.92M | -$247.76M | -$306.51M | -$239.03M |
| Net Cash from Investing | -$1.15B | -$948.53M | -$200.43M | -$2.64B | -$1.56B | -$1.41B | -$988.35M | -$754.47M | -$1.04B | -$861.65M | -$749.48M | -$549.09M | -$571.69M | -$509.81M | -$507.74M | -$215.34M | -$402.69M | -$321.7M | -$299.47M |
| Financing Activities | |||||||||||||||||||
| Debt Repaid | $30M | - | - | - | - | -$40K | - | $200K | -$9.54M | $400K | -$34.45M | - | - | $547K | $20.74M | -$15.05M | -$5M | -$19.93M | -$73K |
| Common Stock Issuance | $610K | $916K | $1.29M | $1.23M | $3.53M | $3.49M | $2.12M | $2.34M | $2.04M | $3.19M | $3.85M | $52.08M | $10.34M | $4.65M | $10.03M | $123K | $0 | $21.47M | $12.95M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$40M | $0 | $0 | $0 | $0 | $0 | $0 | $6.5M | $0 |
| Dividends Paid | -$73.17M | -$65.41M | -$45.71M | -$37.47M | -$32.52M | -$28.23M | -$24.05M | -$20.19M | -$10.04M | -$7.86M | -$5.88M | -$3.61M | -$3.68M | -$3.13M | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $674.07M | $268.72M | $1.72B | -$907.17M | $2.47B | $2.83B | $612.75M | $808.6M | $617.81M | $1.2B | $741.41M | $385.81M | $511.61M | $405.87M | $465.32M | $326.36M | $395.04M | $274.6M | $289.33M |
| Net Cash from Financing | $49.35M | $941.16M | $1.32B | -$1.04B | $3.31B | $2.8B | $772.78M | $790.48M | $617.37M | $1.19B | $729.83M | $524.03M | $575.16M | $406.44M | $494.37M | $341.53M | $403.51M | $316M | $302.35M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$749.94M | $245.55M | $1.32B | -$3.41B | $2.01B | $1.58B | -$51.3M | $204.31M | -$306.41M | $431.76M | $54.77M | $39.05M | $77.67M | -$62.19M | $10.96M | $155.77M | $3.29M | $6.5M | $0 |
| Supplementary Data | |||||||||||||||||||
| Operating Cash Flow | $355.2M | $252.91M | $197.3M | $272.63M | $266.33M | $191.29M | $164.28M | $168.3M | $118.46M | $98.52M | $76.27M | $65.09M | $74.2M | $41.18M | $24.32M | $29.57M | $2.46M | $12.2M | $10.21M |
| Capital Expenditure | -$5.94M | -$4.65M | -$3.91M | -$3.65M | -$9.45M | -$2.31M | -$2.36M | -$2.3M | -$21.15M | -$22.2M | -$5.54M | -$1.31M | -$1.35M | -$5.47M | -$1.31M | -$428K | -$2.29M | -$800K | -$2.19M |
| Free Cash Flow | $349.26M | $248.27M | $193.39M | $268.98M | $256.88M | $188.99M | $161.92M | $166M | $97.31M | $76.32M | $70.73M | $63.78M | $72.85M | $35.71M | $23.01M | $29.15M | $169K | $11.4M | $8.02M |
| Cash at Beginning | $2.38B | $2.13B | $816.05M | $4.22B | $2.21B | $630.6M | $681.89M | $477.59M | $784M | $352.24M | $297.46M | $258.42M | $180.75M | $242.93M | $231.98M | $76.21M | $72.92M | $0 | $0 |
| Cash at End | $1.63B | $2.38B | $2.13B | $816.05M | $4.22B | $2.21B | $630.6M | $681.89M | $477.59M | $784M | $352.24M | $297.46M | $258.42M | $180.75M | $242.93M | $231.98M | $76.21M | $6.5M | $0 |