MARRIOTT VACATIONS WORLDWIDE Corp (VAC)
Marriott Vacations Worldwide Corporation is a prominent global leisure company specializing in the development, marketing, sale, and management of vacation ownership products and associated offerings. Its business operations are structured around two core divisions: Vacation Ownership, and Exchange & Third-Party Management. The corporation oversees numerous vacation ownership brands, including Marriott Vacation Club, Grand Residences by Marriott, Sheraton Vacation Club, Westin Vacation Club, Hyatt Residence Club, and Marriott Vacation Club Pulse. Additionally, it is engaged in the creation, promotion, and sale of timeshare products under The Ritz-Carlton Destination Club brand, and holds the rights to develop, market, and sell luxury residential ownership properties bearing The Ritz-Carlton Residences name. Beyond its core ventures, the enterprise provides exchange networks and membership programs, alongside offering management services to external resorts and lodging facilities through various affiliated brands, such as Interval International, Trading Places International, Vacation Resorts International, and Aqua-Aston. As of December 31, 2021, Marriott Vacations Worldwide maintained a portfolio of approximately 120 properties located across the United States and thirteen other international territories. The company's premium vacation ownership products are primarily distributed through dedicated sales centers situated at its resorts, complemented by various off-site sales locations. Established in 1984, the corporate headquarters for Marriott Vacations Worldwide are located in Orlando, Florida.
Sector: Real Estate Agents & Managers (For Others)
Industry: Gambling, Resorts & Casinos
Marriott Vacations Worldwide Corporation
NYSE:VACConsumer Cyclical · Gambling, Resorts & Casinos
-3.21%$109.31
AH Close$109.31+0.00%vs close
AH Close$109.31+0.00%vs close
Mkt Cap$3.76B
Float29.49M
O/S34.4M
Inst Own90.8%
Div Yield2.93%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$5.03B
Net Income-$308M
Total Assets$9.76B
Free Cash Flow-$29M
Debt & Equity
Debt 74%
Equity 26%
Total Debt$5.75B
Total Equity$1.99B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in VAC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$9.76B
Liabilities$7.76B
Accounts Receivable$2.99B
Accounts Payable$358M
Inventory$0
PP&E (Net)$950M
Goodwill$2.96B
Intangible Assets$711M
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 | $5.03B | $4.97B | $4.73B | $4.66B | $3.89B | $2.89B | $4.26B | $2.97B | $2.18B | $1.81B | $1.83B | $1.74B | $1.75B | $1.65B | $1.61B | $1.58B | $1.6B | $1.92B |
| YoY Growth | 1.3% | 5.1% | 1.5% | 19.7% | 34.8% | -32.2% | 43.5% | 36.0% | 20.5% | -1.1% | 5.4% | -0.8% | 6.2% | 2.2% | 1.8% | -0.8% | -16.7% | - |
| Cost of Revenue | $4.27B | $3.11B | $2.91B | $2.67B | $2.44B | $2.19B | $2.59B | $1.87B | $1.42B | $1.1B | $1.13B | $1.11B | $1.14B | $1.09B | $1.05B | $997M | $1.04B | $1.1B |
| Gross Profit | $760M | $1.85B | $1.82B | $1.99B | $1.45B | $696M | $1.67B | $1.1B | $765M | $706.78M | $700.3M | $621M | $607.29M | $556M | $562M | $587M | $553M | $820M |
| Gross Margin | 15.1% | 37.3% | 38.5% | 42.6% | 37.4% | 24.1% | 39.2% | 37.1% | 35.0% | 39.0% | 38.3% | 35.8% | 34.7% | 33.7% | 34.8% | 37.1% | 34.6% | 42.8% |
| 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 | $1.19B | $1.16B | $1.1B | $1.06B | $844M | $540M | $996M | $725M | $494M | $434M | $436.7M | $414M | $414.99M | $416M | $423M | $426M | $501M | $759M |
| Other | -$979M | $146M | $135M | $132M | $146M | $156M | $0 | $375M | $4M | $0 | $0 | $0 | $1M | $0 | $0 | $15M | $623M | $0 |
| Total Operating Expenses | $206M | $1.31B | $1.23B | $1.19B | $990M | $696M | $1.2B | $1.1B | $505M | $458.13M | $433.56M | $414M | $415M | $416M | $423M | $441M | $553M | $759M |
| Operating Income (EBIT) | $554M | $547M | $587M | $797M | $463M | $0 | $564M | $313M | $260.67M | $220M | $243.97M | $180.81M | $175M | $94M | $151M | $161M | -$571M | $61M |
| Operating Margin | 11.0% | 11.0% | 12.4% | 17.1% | 11.9% | - | 13.2% | 10.5% | 11.9% | 12.1% | 13.3% | 10.4% | 10.0% | 5.7% | 9.4% | 10.2% | -35.8% | 3.2% |
| Interest Expense | $169M | $162M | $145M | $118M | $164M | $150M | $132M | $54M | $10M | $9M | $37.47M | $38.16M | $43.95M | $58M | $47M | $56M | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$853M | -$241M | -$189M | -$215M | -$336M | -$340M | -$339M | -$210M | -$20.67M | $2.93M | -$37.47M | -$29.81M | -$44M | -$57M | -$365M | -$49M | -$192M | -$52M |
| Income Before Tax (EBT) | -$299M | $306M | $398M | $582M | $127M | -$340M | $225M | $103M | $240M | $222.93M | $206.5M | $151M | $131M | $37M | -$214M | $112M | -$763M | $9M |
| Income Tax Expense | $8M | $89M | $146M | $191M | $74M | -$84M | $83M | $51M | $5M | $76M | $83.7M | $70M | $51.47M | $21M | -$36M | $45M | -$231M | $25M |
| Net Income | -$308M | $218M | $254M | $391M | $49M | -$275M | $138M | $55M | $235M | $137.35M | $122.8M | $80.76M | $79.73M | $7M | -$178M | $67M | -$521M | $9M |
| Net Income Margin | -6.1% | 4.4% | 5.4% | 8.4% | 1.3% | -9.5% | 3.2% | 1.9% | 10.8% | 7.6% | 6.7% | 4.7% | 4.6% | 0.4% | -11.0% | 4.2% | -32.6% | 0.5% |
| Supplementary Data | ||||||||||||||||||
| EPS | -8.83 | 6.16 | 6.96 | 9.68 | 1.15 | -6.65 | 3.10 | 1.64 | 8.70 | 4.93 | 3.90 | 2.33 | 2.25 | 0.19 | -5.12 | 1.99 | -15.49 | 0.27 |
| Diluted EPS | -8.83 | 5.61 | 6.28 | 8.65 | 1.13 | -6.65 | 3.10 | 1.62 | 8.49 | 4.83 | 3.82 | 2.33 | 2.18 | 0.18 | -5.12 | 1.99 | -15.49 | 0.27 |
| Weighted Average OS | 34.90M | 35.40M | 36.50M | 40.40M | 42.61M | 41.35M | 44.50M | 33.54M | 27.10M | 27.88M | 31.49M | 34.63M | 35.40M | 34.40M | 33.70M | 33.63M | 33.63M | 33.63M |
| EBITDA | $19M | $614M | $678M | $832M | $437M | -$67M | $498M | $375M | $271M | $228M | $241.49M | $188M | $197.75M | $124M | -$137M | $203M | -$721M | $105M |
| EBITDA Margin | 0.4% | 12.4% | 14.3% | 17.9% | 11.2% | -2.3% | 11.7% | 12.6% | 12.4% | 12.6% | 13.2% | 10.8% | 11.3% | 7.5% | -8.5% | 12.8% | -45.2% | 5.5% |
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 | $733M | $197M | $248M | $524M | $342M | $524M | $287M | $231M | $409M | $147.1M | $177.06M | $346.51M | $200M | $103M | $110M | $26M | $32M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $733M | $197M | $248M | $524M | $342M | $524M | $287M | $231M | $409M | $147.1M | $177.06M | $346.51M | $200M | $103M | $110M | $26M | $32M |
| Accounts Receivable | $2.99B | $2.83B | $2.73B | $2.49B | $2.32B | $150M | $166M | $2.36B | $1.21B | $328.33M | $268.59M | $1.03B | $1.08B | $100M | $104M | $1.35B | $515M |
| Inventory | $0 | $735M | $634M | $660M | $719M | $802M | $897M | $863M | $398M | $712.54M | $669.24M | $772.78M | $870M | $888M | $959M | $1.41B | $1.38B |
| Other Current Assets | $0 | $331M | $326M | $330M | $461M | $2.43B | $2.8B | $383M | $82M | $0 | $71.45M | $109.91M | $86M | $68M | $81M | $66M | $34M |
| Total Current Assets | $3.73B | $4.09B | $3.94B | $4B | $3.85B | $3.91B | $4.15B | $3.84B | $2.1B | $2.06B | $1.97B | $2.26B | $2.23B | $2.21B | $2.4B | $2.86B | $1.96B |
| Long-Term Assets | |||||||||||||||||
| Property, Plant & Equipment Net | $950M | $1.17B | $1.26B | $1.14B | $1.14B | $922M | $860M | $951M | $583M | $202.8M | $288.8M | $147.38M | $254M | $261M | $285M | $310M | $358M |
| Goodwill | $2.96B | $3.12B | $3.12B | $3.12B | $3.15B | $2.82B | $2.89B | $2.83B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $711M | $790M | $854M | $911M | $993M | $952M | $1.03B | $1.11B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $333M | $318M |
| Other Long-Term Assets | $1.41B | $641M | $513M | $468M | $488M | $297M | $281M | $292M | $166M | $128.94M | $140.68M | $127.07M | $143M | $137M | $157M | $141M | $402M |
| Total Long-Term Assets | $6.03B | $5.72B | $5.74B | $5.63B | $5.77B | $4.99B | $5.06B | $5.18B | $749M | $331.74M | $429.48M | $274.44M | $397M | $398M | $442M | $784M | $1.08B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1M | $0 | $0 |
| Total Assets | $9.76B | $9.81B | $9.68B | $9.64B | $9.61B | $8.9B | $9.21B | $9.02B | $2.85B | $2.39B | $2.4B | $2.53B | $2.63B | $2.61B | $2.85B | $3.64B | $3.04B |
| Liabilities | |||||||||||||||||
| Current Liabilities | |||||||||||||||||
| Accounts Payable | $358M | $343M | $362M | $356M | $265M | $209M | $286M | $301M | $145M | $124.44M | $139.12M | $114.08M | $129M | $113M | $145M | $87M | $81M |
| Short-Term Debt | $210M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $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 |
| Current Unearned Revenue | $0 | $354M | $382M | $344M | $453M | $0 | $0 | $383M | $69M | $95.5M | $78.2M | $38.82M | $19M | $32M | $29M | $104M | $78M |
| Other Current Liabilities | -$358M | $220M | $205M | $251M | $201M | $147M | $187M | $210M | $112M | $95.52M | $104.33M | $93.07M | $82M | $82M | $54M | $72M | $56M |
| Total Current Liabilities | $210M | $1.3B | $1.29B | $1.32B | $1.26B | $724M | $905M | $1.14B | $446M | $462.92M | $485.28M | $411.94M | $415M | $408M | $349M | $355M | $365M |
| Long-Term Liabilities | |||||||||||||||||
| Long-Term Debt | $4.97B | $5.03B | $4.96B | $4.94B | $4.4B | $4.26B | $4.09B | $3.8B | $1.09B | $730M | $678.79M | $741.83M | $678M | $678M | $850M | $1.02B | $59M |
| Long-Term Unearned Revenue | $534M | $0 | $0 | $0 | $453M | $0 | $0 | -$312M | $69M | $95.5M | $78.2M | $39M | $19M | $32M | $29M | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $231M | $345M | $280M | $331M | $350M | $0 | $0 | $318M | $90M | $149.17M | $109.08M | $78.88M | $60M | $42M | $78M | $0 | $0 |
| Other Long-Term Liabilities | $1.25B | $496M | $581M | $464M | $73M | $1.09B | $1.02B | $488M | $104M | $38.79M | $72.11M | $179.22M | $251M | $314M | $405M | $361M | $389M |
| Total Long-Term Liabilities | $7.55B | $6.07B | $6.01B | $5.82B | $5.36B | $5.49B | $5.28B | $4.62B | $1.36B | $1.02B | $938.17M | $1.04B | $1.01B | $1.07B | $1.36B | $1.38B | $448M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$212M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.76B | $7.37B | $7.3B | $7.14B | $6.63B | $6.22B | $6.18B | $5.55B | $1.8B | $1.48B | $1.42B | $1.45B | $1.42B | $1.47B | $1.71B | $1.74B | $813M |
| Stockholders' Equity | |||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $0 | $366K | $364K | $361K | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | $434M | $852M | $742M | $593M | $275M | $272M | $569M | $523M | $529M | $346.34M | $243.78M | $153.73M | $82M | $2M | -$2M | $0 | $0 |
| Comprehensive Income & Other | -$11M | -$8M | $16M | $15M | -$16M | -$48M | -$36M | $6M | $17M | $5.46M | $11.38M | $17.05M | $23M | $21M | $19M | $28M | $20M |
| Other Stockholders' Equity | $1.56B | $1.59B | $1.64B | $1.9B | $2.7B | $2.38B | $2.45B | $2.94B | $512M | $561.11M | $732.12M | $925.61M | $1.13B | $1.14B | $1.14B | $1.9B | $2.22B |
| Total Equity | $1.99B | $2.44B | $2.38B | $2.5B | $2.98B | $2.65B | $3.02B | $3.46B | $1.04B | $907.82M | $976.27M | $1.08B | $1.21B | $1.14B | $1.13B | $1.9B | $2.22B |
| Minority Interest | $0 | -$1M | $0 | $2M | $10M | $31M | $12M | $5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $9.76B | $9.81B | $9.68B | $9.64B | $9.6B | $8.87B | $9.2B | $9.01B | $2.85B | $2.39B | $2.4B | $2.53B | $2.63B | $2.61B | $2.85B | $3.64B | $3.04B |
| Supplementary Data | |||||||||||||||||
| Total Debt | $5.75B | $5.22B | $5.14B | $5.03B | $4.49B | $4.41B | $4.26B | $3.82B | $1.09B | $737.22M | $678.79M | $703.01M | $678M | $678M | $850M | $1.02B | $59M |
| Net Debt | $5.02B | $5.03B | $4.9B | $4.5B | $4.14B | $3.88B | $3.97B | $3.59B | $686M | $590.12M | $501.73M | $356.5M | $478M | $575M | $740M | $996M | $27M |
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 | -$308M | $217M | $254M | $391M | $53M | -$256M | $142M | $55M | $235M | $137.35M | $122.8M | $81M | $79.73M | $7M | -$172M | $67M | -$521M | $9M |
| Depreciation & Amortization | $149M | $146M | $135M | $132M | $146M | $123M | $141M | $62M | $21M | $21M | $22.22M | $19M | $22.59M | $30M | $33M | $35M | $42M | $44M |
| Deferred Income Tax | -$103M | $38M | -$64M | $87M | $34M | -$38M | $5M | $54M | -$66.13M | $30M | $28.16M | $18.88M | $17.88M | -$47M | -$57M | $0 | $0 | $0 |
| Stock-Based Compensation | $38M | $33M | $31M | $39M | $51M | $36M | $37M | $35M | $16.29M | $14M | $14.14M | $13.38M | $12M | $12M | $11M | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||
| Accounts Receivable | -$40M | -$16M | -$496M | -$45M | $0 | $21M | $69M | -$38M | $5.7M | $0 | $0 | $0 | $42M | $0 | $0 | $0 | $0 | $0 |
| Inventory | $27M | -$33M | $87M | $104M | $61M | $18M | $65M | $9M | $45M | $4.3M | $72.16M | $82M | $33.95M | $68M | $110M | $0 | $0 | $0 |
| Accounts Payable | -$5M | $9M | $1M | $112M | $42M | -$146M | $17M | $26M | $50.75M | -$18.7M | $0 | -$11M | -$16M | $21M | $48M | $6M | -$77M | $7M |
| Other Working Capital | -$532M | -$132M | $9M | -$30M | $126M | $91M | $50M | $58M | -$10.45M | $32.4M | -$143.76M | $24.99M | -$125.95M | -$19M | -$71M | $45M | $7M | -$8M |
| Total Working Capital Change | -$550M | -$172M | -$399M | $141M | $229M | -$16M | $201M | $55M | $91M | $18M | -$71.6M | $95.99M | -$66M | $70M | $87M | $51M | -$70M | -$1M |
| Other Non-Cash Items | $802M | -$57M | $275M | -$268M | -$170M | $450M | -$144M | -$164M | -$155.15M | -$80.18M | -$6.68M | $62.76M | $95.8M | $91M | $419M | $230M | $726M | -$444M |
| Net Cash from Operating | $28M | $205M | $232M | $522M | $343M | $299M | $382M | $97M | $142M | $140.17M | $109.03M | $291M | $162M | $163M | $321M | $383M | $177M | -$392M |
| Investing Activities | ||||||||||||||||||
| Capital Expenditures | -$57M | -$57M | -$118M | -$65M | -$47M | -$41M | -$46M | -$40M | -$26M | -$34.77M | -$35.73M | -$15M | -$21.98M | -$17M | -$15M | -$24M | -$28M | -$89M |
| Acquisitions | $3M | $8M | $16M | $94M | -$154M | $15M | $51M | -$1.35B | $0 | $68.95M | $20.64M | $82M | $3M | $8M | $19M | $46M | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$42M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$16M | -$66M | -$10M | -$13M | -$12M | -$6M | $32M | -$14M | -$12M | $0 | -$9.98M | -$24M | -$16.93M | $12M | $5M | -$1M | $1M | $2M |
| Net Cash from Investing | -$70M | -$115M | -$112M | $16M | -$213M | -$32M | $37M | -$1.41B | -$38M | $34.18M | -$25.07M | $43M | -$35.91M | $3M | $9M | $21M | -$27M | -$129M |
| Financing Activities | ||||||||||||||||||
| Debt Repaid | -$445M | -$64M | -$5M | -$416M | $144M | -$180M | -$249M | -$1.63B | -$337M | -$54M | $23.43M | -$33.77M | -$432K | $180M | $172M | $157M | $28M | $48M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$61M | -$56M | -$286M | -$701M | -$78M | -$82M | -$465M | -$96M | -$88M | -$182M | -$201.38M | -$203.6M | -$25.63M | -$4M | $0 | $0 | $0 | $0 |
| Dividends Paid | -$110M | -$107M | -$106M | -$99M | -$23M | -$45M | -$81M | -$51M | -$38M | -$34M | -$23.79M | -$8.18M | $0 | $0 | -$64M | -$264M | $0 | $0 |
| Other Financing Activities | -$33M | -$33M | -$2M | $46M | -$72M | -$30M | -$34M | -$52M | -$40M | -$2.62M | -$1.15M | -$15.17M | $2.07M | $8M | $0 | $11M | -$116M | $568M |
| Net Cash from Financing | $241M | -$132M | -$401M | -$486M | -$317M | $23M | -$331M | $1.43B | $171M | -$204.95M | -$249.75M | -$185M | -$28.27M | -$172M | -$246M | -$410M | -$144M | $520M |
| Forex Effect | $6M | -$4M | $1M | -$1M | -$2M | $1M | -$1M | $0 | $2.96M | -$4.2M | -$4.45M | -$1.88M | $42K | -$1M | $0 | $0 | $0 | $0 |
| Net Change in Cash | $205M | -$46M | -$280M | $51M | -$189M | $291M | $87M | $123M | $278M | -$36M | -$169.45M | $147M | $96.6M | -$7M | $84M | -$6M | $6M | $0 |
| Supplementary Data | ||||||||||||||||||
| Operating Cash Flow | $28M | $205M | $232M | $522M | $343M | $299M | $382M | $97M | $142M | $141M | $109.03M | $291M | $162M | $163M | $321M | $383M | $177M | -$392M |
| Capital Expenditure | -$57M | -$57M | -$118M | -$65M | -$47M | -$41M | -$46M | -$40M | -$26M | -$34.77M | -$35.73M | -$15M | -$22M | -$17M | -$15M | -$24M | -$28M | -$89M |
| Free Cash Flow | -$29M | $148M | $114M | $457M | $296M | $258M | $336M | $57M | $116M | $105.4M | $73.3M | $276M | $140M | $146M | $306M | $359M | $149M | -$481M |
| Cash at Beginning | $528M | $574M | $854M | $803M | $992M | $701M | $614M | $491M | $213.1M | $177.06M | $346.51M | $200M | $102.91M | $110M | $26M | $32M | $26M | $0 |
| Cash at End | $733M | $528M | $574M | $854M | $803M | $992M | $701M | $614M | $491M | $213M | $248.51M | $346.51M | $200M | $103M | $110M | $26M | $32M | $0 |