Light S.A./ADR (LGSXY)
Light S.A., together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electric power in Brazil. The company distributes electricity in the state of Rio de Janeiro. It engages in the research, planning, building, operation, and exploration of generation and transmission systems; purchase, sale, import, and export of electric and thermal power, and gas and industrial utilities; provision of consulting services in the energy sector; lease of real estate and personal properties; acquisition and sale of goods related to the studies and projects; implementation, operation, and maintenance of construction works and facilities; and hydropower generation activities. In addition, the company provides services to low voltage clients, including the assembly, renovation, and maintenance of facilities. Further, it offers technology solutions and systems for the operating management of public service concessionaires, including electricity, gas, water, sewage and other utility companies; and builds, installs, operates, and explores electric power plants. The company primarily serves residential, commercial, and industrial customers. The company was founded in 1899 and is headquartered in Rio De Janeiro, Brazil.
Sector: American Depositary Receipts
Industry: Regulated Electric
Light S.A.
OTC:LGSXYUtilities · Regulated Electric
Mkt Cap-
Float117.3M
O/S-
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2.63B
Net Income$38.13M
Total Assets$4.6B
Free Cash Flow-$185.02M
Debt & Equity
Debt 65%
Equity 35%
Total Debt$1.8B
Total Equity$975M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:2
Nasdaq bars a compliance period at 1:250
- 1:2Reverse splitJul 13, 20262 shares → 1
Balance Sheet Details
Assets$4.6B
Liabilities$3.63B
Accounts Receivable$432.89M
Accounts Payable$491.68M
Inventory$16.42M
PP&E (Net)$439.99M
Goodwill$0
Intangible Assets$174.01M
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $2.63B | $2.56B | $2.53B | $2.33B | $2.55B | $2.29B | $2.35B | $2.1B | $2B | $1.7B | $1.88B | $1.63B | $1.31B | $1.36B | $1.24B | $1.16B | $972.07M | $969.3M | $893.35M | $970.42M |
| YoY Growth | 2.8% | 1.3% | 8.6% | -8.9% | 11.3% | -2.3% | 11.9% | 5.0% | 17.3% | -9.6% | 15.3% | 24.4% | -3.5% | 9.6% | 6.7% | 19.8% | 0.3% | 8.5% | -7.9% | - |
| Cost of Revenue | $2.2B | $2.25B | $2.28B | $2.02B | $2.23B | $1.77B | $1.8B | $1.74B | $1.59B | $1.44B | $1.62B | $1.29B | $981.47M | $1.07B | $946.66M | $829.19M | $3.8M | $548.13M | $634.45M | $512.23M |
| Gross Profit | $434.04M | $313.91M | $245.53M | $309.29M | $321.1M | $525.94M | $550.56M | $353.13M | $409.87M | $263.61M | $262.1M | $340.7M | $332.92M | $296M | $296.06M | $335.47M | $968.27M | $421.17M | $258.89M | $458.19M |
| Gross Margin | 16.5% | 12.3% | 9.7% | 13.3% | 12.6% | 22.9% | 23.5% | 16.8% | 20.5% | 15.5% | 13.9% | 20.8% | 25.3% | 21.7% | 23.8% | 28.8% | 99.6% | 43.5% | 29.0% | 47.2% |
| Research and Development | $0 | $4.98M | $0 | $4.44M | $4.9M | $4.44M | $4.32M | $4.2M | $3.75M | $3.41M | $3.12M | $2.6M | $2.46M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $36.06M | $35.93M | $150.25M | $42.01M | $41.95M | $39.69M | $49.43M | $44.62M | $34.5M | $37.3M | $42.96M | $44.56M | $43.52M | $39.24M | $138.76M | $0 | $134.26M | $100.75M | $119.85M | $158.54M |
| Other | $101.64M | $17.21M | $87.6M | -$67.99M | -$7.16M | -$16.87M | -$8.73M | -$16.3M | -$14.85M | -$14.48M | $38.53M | -$1.22M | $13.76M | $67.21M | $0 | $0 | $0 | $0 | $0 | -$115.17M |
| Total Operating Expenses | $137.7M | $58.12M | $155.12M | $896.94M | $107.92M | $197.08M | $322.12M | $153.27M | $144.74M | $90.4M | $111.12M | $111.43M | $113.02M | $177.38M | $139.81M | $113.22M | $807.86M | $100.75M | $119.85M | $225.07M |
| Operating Income (EBIT) | $296.35M | $255.79M | $90.41M | -$604.48M | $71.31M | $121.45M | $439.13M | $104.19M | $192.76M | $92.07M | $23.05M | $167.33M | $233.68M | $196.45M | $187.73M | $222.25M | $160.4M | $320.41M | $139.04M | $74.58M |
| Operating Margin | 11.3% | 10.0% | 3.6% | -26.0% | 2.8% | 5.3% | 18.7% | 5.0% | 9.7% | 5.4% | 1.2% | 10.2% | 17.8% | 14.4% | 15.1% | 19.1% | 16.5% | 33.1% | 15.6% | 7.7% |
| Interest Expense | $97.11M | $41.52M | $145.59M | $166.74M | $124.97M | $97.23M | $123.75M | $122.97M | $109.86M | $123.48M | $115.79M | $102.37M | $92.99M | $80.53M | $113.37M | $88.15M | $48.77M | $31.45M | $100.85M | $74.4M |
| Interest Income | $66.2M | $45.78M | $25.69M | $70.91M | $27.22M | $8.53M | $14.37M | $11.33M | $4.97M | $8.18M | $31.54M | $19.85M | $17.02M | $22.18M | $31.48M | $31M | $36.12M | $48.34M | $44.31M | $132.62M |
| Other Income (Expense) | $0 | $56.57M | $55.71M | -$423.64M | $109.15M | $110.11M | -$134M | -$48.46M | -$139.35M | -$142.71M | -$155.93M | -$40.2M | -$66.84M | -$88.7M | -$69.85M | -$57.15M | -$16.31M | -$92.09M | -$54.52M | -$56.95M |
| Income Before Tax (EBT) | $110.68M | $312.35M | $146.12M | -$958.73M | -$33.44M | $187.46M | $355.91M | $55.72M | $53.41M | -$50.64M | $23.05M | $167.33M | $152.48M | $107.75M | $74.36M | $165.1M | $144.09M | $233.97M | $84.52M | $17.63M |
| Income Tax Expense | $73.3M | $18.21M | $100.46M | $56.27M | -$104.65M | $63.65M | $118.31M | $26.06M | $31.18M | $5.36M | $15.46M | $48.73M | $47.38M | $31.89M | $18.77M | $62.18M | $35.86M | $53.96M | -$108.24M | $44.56M |
| Net Income | $38.13M | $294.14M | $45.66M | -$1.01B | $71.21M | $123.81M | $237.6M | $29.67M | $22.23M | -$56M | $6.77M | $118.61M | $105.1M | $75.86M | $61.19M | $102.92M | $105.36M | $174.37M | $192.24M | -$26.93M |
| Net Income Margin | 1.4% | 11.5% | 1.8% | -43.6% | 2.8% | 5.4% | 10.1% | 1.4% | 1.1% | -3.3% | 0.4% | 7.3% | 8.0% | 5.6% | 4.9% | 8.8% | 10.8% | 18.0% | 21.5% | -2.8% |
| Supplementary Data | ||||||||||||||||||||
| EPS | 1.14 | 8.82 | 1.40 | -30.92 | 2.16 | 4.56 | 10.82 | 1.62 | 1.22 | -3.06 | 0.38 | 6.50 | 5.76 | 4.16 | 3.36 | 5.64 | 5.76 | 9.54 | 10.40 | -1.48 |
| Diluted EPS | 1.10 | 8.82 | 1.40 | -30.92 | 2.16 | 4.56 | 10.82 | 1.62 | 1.22 | -3.06 | 0.38 | 6.50 | 5.76 | 4.16 | 3.32 | 5.64 | 5.76 | 9.54 | 10.40 | -1.48 |
| Weighted Average OS | 186.28M | 186.28M | 183.42M | 183.42M | 183.42M | 151.97M | 122.80M | 101.97M | 101.97M | 101.97M | 101.97M | 101.97M | 101.97M | 101.97M | 101.97M | 101.98M | 101.97M | 101.79M | 101.97M | 101.73M |
| EBITDA | $460.23M | $513.84M | $432.47M | -$473.72M | $212.88M | $487.94M | $398.14M | $318.66M | $359.53M | $238.25M | $303.58M | $305.17M | $308.87M | $248.02M | $228.89M | $316.39M | $281.87M | $376.32M | $310.52M | $207.71M |
| EBITDA Margin | 17.5% | 20.1% | 17.1% | -20.4% | 8.3% | 21.3% | 17.0% | 15.2% | 18.0% | 14.0% | 16.1% | 18.7% | 23.5% | 18.2% | 18.4% | 27.2% | 29.0% | 38.8% | 34.8% | 21.4% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Assets | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash and Cash Equivalents | $19.82M | $33.25M | $52.26M | $7.85M | $71M | $116.89M | $178.29M | $126.52M | $48.3M | $119.59M | $80.07M | $71.78M | $97.78M | $67.57M | $138.24M | $92M | $148.23M | $105.6M | $87.72M | $124.38M |
| Short-Term Investments | $292.72M | $519.6M | $322.99M | $393.23M | $783.78M | $446.43M | $220.32M | $275.75M | $42.82M | $2.41M | $13.36M | $18.73M | $222.6M | $2.73M | $1.46M | $1.99M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $312.55M | $552.85M | $375.25M | $401.08M | $854.78M | $563.32M | $398.61M | $402.27M | $91.12M | $122M | $93.43M | $90.52M | $320.38M | $70.3M | $139.7M | $93.99M | $148.23M | $105.6M | $87.72M | $124.38M |
| Accounts Receivable | $432.89M | $413.12M | $239.33M | $257.93M | $546.16M | $590.89M | $459.51M | $536.17M | $578.64M | $422.53M | $403.01M | $265.22M | $224.25M | $4.35M | $9.51M | $30.98M | $104.95M | $479.3M | $247.15M | -$54.01M |
| Inventory | $16.42M | $14.34M | $10.17M | $13.53M | $11.75M | $11.16M | $10.74M | $6.81M | $6.57M | $6.97M | $6.26M | $6.08M | $5.31M | $5.43M | $4.91M | $3.67M | $2.57M | $3.33M | $2.37M | $2.04M |
| Other Current Assets | $185.1M | $296.11M | $329.64M | $281.65M | $569.49M | $267.42M | $183.44M | $164.12M | $637.13M | $89.65M | $204.36M | $164.34M | $295.37M | $329.93M | $333.51M | $289.72M | $347.47M | $422.19M | $135.65M | $435.45M |
| Total Current Assets | $950.66M | $1.28B | $954.4M | $854.07M | $1.67B | $1.43B | $958.1M | $1.01B | $740.46M | $646.42M | $711.52M | $528.82M | $625.54M | $418.5M | $487.95M | $425.55M | $603.65M | $599.71M | $522.21M | $552.2M |
| Long-Term Assets | ||||||||||||||||||||
| Property, Plant & Equipment Net | $439.99M | $408.98M | $398.21M | $399.5M | $334.57M | $314.39M | $297.7M | $279.24M | $288.71M | $293.19M | $305.93M | $305.11M | $300.39M | $397.35M | $355.35M | $291.48M | $772.87M | $726.39M | $662.47M | $661.51M |
| Goodwill | $0 | $0 | $1.56B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $364K | $364K | $364K | $0 | $0 | $364K | $0 | $0 | $0 | $0 |
| Intangible Assets | $174.01M | $264.45M | $367.13M | $441.61M | $507.04M | $518.68M | $507.64M | $554.09M | $639.46M | $668.61M | $1.25B | $1.14B | $1.05B | $718.82M | $729.24M | $646.29M | $50.39M | $50.28M | $48.51M | $50.84M |
| Long-Term Investments | $2.45B | $1.22B | $715K | $999.38M | $556.16M | $551.87M | $753.15M | $613.05M | $732.64M | $695.25M | $646.4M | $566.96M | $237M | $295.24M | $173.73M | $125.39M | $27.35M | -$198.55M | -$9.53M | -$50.84M |
| Deferred Tax Assets | $44.24M | $99.32M | $95.82M | $153.79M | $160.28M | $80.52M | $6.43M | $72.45M | $65.23M | $106.02M | $88.91M | $84.79M | $111.45M | $148.56M | $145.21M | $160.92M | $146.88M | $198.55M | $9.53M | $17.52M |
| Other Long-Term Assets | $542.57M | $1.26B | $958.56M | $1.47B | $1.83B | $1.83B | $1.74B | $669.34M | $207.81M | $154.79M | $188.19M | $248.33M | $343.27M | $119.89M | $73.6M | $66.94M | $73.79M | $316.77M | $365.96M | $300.29M |
| Total Long-Term Assets | $3.65B | $3.25B | $3.29B | $3.46B | $3.39B | $3.3B | $3.31B | $2.19B | $1.93B | $1.92B | $1.96B | $1.91B | $1.7B | $1.68B | $1.48B | $1.29B | $1.07B | $1.09B | $1.08B | $979.32M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $4.6B | $4.54B | $4.24B | $4.31B | $5.06B | $4.72B | $4.27B | $3.2B | $2.67B | $2.56B | $2.67B | $2.44B | $2.33B | $2.1B | $1.97B | $1.72B | $1.67B | $1.69B | $1.6B | $1.53B |
| Liabilities | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Accounts Payable | $491.68M | $403.14M | $250.93M | $178.26M | $276.73M | $512.23M | $333.39M | $276.04M | $273.9M | $137.32M | $99.09M | $178.87M | $104.35M | $145.74M | $134.7M | $117.82M | $100.96M | $87.5M | $187.54M | $132.25M |
| Short-Term Debt | $215.69M | $125.97M | $2.03B | $179.88M | $346.01M | $420.61M | $248.25M | $357.17M | $441.88M | $356.03M | $330M | $106.35M | $114.97M | $97.14M | $54.64M | $97.92M | $35.28M | $11.01M | $16.09M | $65.95M |
| Current Income Tax Payable | $64.21M | $29.29M | $71.49M | $25.71M | $51.76M | $30.14M | $37.66M | $63.14M | $47.73M | $79.67M | $66.59M | $51.74M | $35.54M | $24.36M | $30.37M | $62.66M | $51.03M | $41.24M | $54.68M | $46M |
| Current Unearned Revenue | $0 | $0 | $0 | $235.66M | $164.94M | $86.42M | $126.47M | $95M | $72.52M | $217.19M | $82.78M | $83.3M | $261.35M | $60.43M | $136.87M | $104.2M | $162.65M | $78.24M | -$16.09M | $89.02M |
| Other Current Liabilities | $378.55M | $334.77M | $343.98M | $492.02M | $313.28M | $131.09M | $111.65M | $82.81M | $86.92M | $188.38M | $119.51M | $74.57M | $39.61M | $92.09M | $130.97M | $116.76M | $182.66M | $162.54M | $52.54M | $67.66M |
| Total Current Liabilities | $1.16B | $900.84M | $2.77B | $1.01B | $1.2B | $1.29B | $926.48M | $944.53M | $982.95M | $871.7M | $787.23M | $523.36M | $593.81M | $373.39M | $355.58M | $391.3M | $395.63M | $391.69M | $310.84M | $311.86M |
| Long-Term Liabilities | ||||||||||||||||||||
| Long-Term Debt | $1.52B | $1.58B | $0 | $1.81B | $1.65B | $1.31B | $1.33B | $1.46B | $902.38M | $903.26M | $1.03B | $1.07B | $925.63M | $737.82M | $331.89M | $344.53M | $180.05M | $169.2M | $175.11M | $478.03M |
| Long-Term Unearned Revenue | $0 | $0 | $137.23M | $153.69M | $41.99M | $43.61M | $645.21M | $74.48M | $0 | $63.1M | $39.56M | $47.74M | $33.58M | $283.28M | $621.79M | $263.5M | $483.34M | -$58.11M | $569K | $489K |
| Long-Term Deferred Tax Liabilities | $748.43M | $769.91M | $731.42M | $734.95M | $139.1M | $188.93M | $168.86M | $122.53M | $112.68M | $110.59M | $144.87M | $131.6M | $137.8M | $161.66M | $43.54M | $49.34M | $54.32M | $58.11M | -$175.68M | $401.7M |
| Other Long-Term Liabilities | $144.6M | $313.81M | $742.6M | $790.57M | $602.78M | $799.56M | $82.19M | $113.72M | $174.75M | $126.09M | $158.36M | $144.81M | $151.41M | $811K | $35.84M | $72.36M | $44.97M | $572.44M | $635.15M | $69.51M |
| Total Long-Term Liabilities | $2.47B | $2.7B | $915.61M | $2.79B | $2.3B | $2.17B | $2.23B | $1.65B | $1.08B | $1.09B | $1.22B | $1.27B | $1.11B | $1.18B | $1.03B | $729.73M | $762.68M | $799.75M | $810.83M | $949.73M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.63B | $3.6B | $3.69B | $3.8B | $3.5B | $3.46B | $3.15B | $2.59B | $2.06B | $1.96B | $2.01B | $1.79B | $1.7B | $1.56B | $1.39B | $1.12B | $1.16B | $1.19B | $1.12B | $1.26B |
| Stockholders' Equity | ||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $964.89M | $964.89M | $964.89M | $964.89M | $964.89M | $724.95M | $724.95M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $398.29M | $397.32M | $305.03M |
| Retained Earnings | -$65.62M | -$106.23M | -$403.12M | -$451.38M | $433.48M | $436.44M | $288.99M | $116.83M | $123.05M | $104.18M | $156.81M | $195.17M | $160.77M | $30.78M | $29.24M | $80.07M | $89.33M | $80.82M | $0 | -$35.09M |
| Comprehensive Income & Other | $75.73M | $75.15M | $0 | -$4.46M | $164.34M | $104.85M | $100.97M | $91.39M | $92.88M | $97.66M | $100.73M | $55.85M | $63.15M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $75.73M | $75.15M | -$7.82M | -$4.46M | $164.34M | $104.85M | $100.97M | $91.39M | $92.88M | $97.66M | $101.54M | $55.85M | $63.15M | $112.35M | $148.91M | $117.54M | $29M | $22.59M | $80.16M | $0 |
| Total Equity | $975M | $933.8M | $553.95M | $509.05M | $1.56B | $1.27B | $1.11B | $606.52M | $614.21M | $600.14M | $656.65M | $649.31M | $622.21M | $541.42M | $576.44M | $595.9M | $516.62M | $501.7M | $477.48M | $269.94M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $4.6B | $4.54B | $4.24B | $4.31B | $5.06B | $4.72B | $4.27B | $3.2B | $2.67B | $2.56B | $2.67B | $2.44B | $2.33B | $2.1B | $1.97B | $1.72B | $1.67B | $1.69B | $1.6B | $1.53B |
| Supplementary Data | ||||||||||||||||||||
| Total Debt | $1.8B | $1.75B | $2.07B | $1.96B | $2.01B | $1.75B | $1.58B | $1.79B | $1.33B | $1.24B | $1.36B | $1.18B | $1.04B | $834.95M | $386.53M | $442.45M | $215.33M | $180.21M | $191.2M | $543.97M |
| Net Debt | $1.78B | $1.72B | $2.02B | $1.95B | $1.93B | $1.63B | $1.4B | $1.67B | $1.28B | $1.12B | $1.28B | $1.11B | $942.83M | $767.38M | $248.29M | $350.46M | $67.1M | $74.61M | $103.48M | $419.59M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | ||||||||||||||||||||
| Net Income | $112.9M | $312.35M | $146.12M | -$958.73M | -$33.44M | $187.46M | $355.91M | $55.72M | $53.41M | -$50.64M | $23.05M | $167.33M | $152.48M | $107.75M | $74.36M | $165.1M | $171.95M | $0 | $0 | $0 |
| Depreciation & Amortization | $163.88M | $159.96M | $140.76M | $130.77M | $121.34M | $105.74M | $105.07M | $97.51M | $92.93M | $88.56M | $82.21M | $74.23M | $69.96M | $64.14M | $64.41M | $63.14M | $54.56M | $55.91M | $58.69M | $57.45M |
| Deferred Income Tax | $0 | $0 | $7.46M | $840.8M | -$19.83M | -$15.97M | -$354.93M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $523K | $592K | $341K | -$327K | $1.62M | $1.12M | $569K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9.25M | $4.02M | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||
| Accounts Receivable | -$108.16M | -$57.13M | -$131.75M | $108.45M | $101.95M | -$178.92M | -$112.7M | -$174.96M | -$204.58M | -$12.04M | -$159.53M | -$52.64M | $25.55M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$2.07M | -$4.17M | $3.36M | -$1.78M | -$584K | -$427K | -$126K | -$242K | $404K | -$714K | -$178K | -$770K | $123K | -$523K | -$1.23M | -$1.1M | $758K | -$957K | -$331K | -$120K |
| Accounts Payable | $0 | $0 | $131.75M | -$115.41M | -$234.31M | $165.92M | $74M | $18.83M | $127.24M | -$27.75M | -$9.02M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $104.19M | $76.01M | -$202.89M | -$207.6M | $156.3M | $352.57M | -$20.19M | -$116.64M | -$211.8M | -$41.31M | $15.68M | -$114.86M | $1.79M | -$111.26M | -$122.26M | -$64.48M | -$15.39M | -$75.29M | $251.14M | -$30.34M |
| Total Working Capital Change | -$6.05M | $14.7M | -$199.53M | -$216.34M | $23.35M | $339.14M | -$59.01M | -$116.89M | -$211.39M | -$42.03M | $15.5M | -$115.63M | $1.91M | -$111.78M | -$123.49M | -$65.58M | -$14.63M | -$76.25M | $250.81M | -$30.46M |
| Other Non-Cash Items | -$204.06M | -$102.84M | $154.64M | $239.75M | -$100.56M | -$199.9M | $33.19M | -$28.92M | $69.66M | $208.61M | $54.52M | -$21.17M | $9.41M | $21.66M | $69.19M | $57.89M | $192.1M | $20.34M | -$309.49M | $205.31M |
| Net Cash from Operating | $67.2M | $384.78M | $249.79M | $35.92M | -$7.52M | $417.59M | $80.8M | $7.42M | $4.61M | $204.5M | $175.27M | $104.77M | $233.75M | $81.77M | $84.46M | $220.55M | $241.27M | $236.38M | $309.49M | $232.31M |
| Investing Activities | ||||||||||||||||||||
| Capital Expenditures | -$30.12M | -$24.32M | -$21.15M | -$263.1M | -$223.56M | -$173.3M | -$152.09M | -$135.75M | -$116.53M | -$74.4M | -$158.05M | -$149.04M | -$148.55M | -$172.41M | -$132.71M | -$113.15M | -$107.15M | -$110.07M | -$87.34M | -$55.94M |
| Acquisitions | -$19K | -$23K | $0 | -$4.61M | -$8.14M | -$230K | -$7.15M | -$16.39M | -$26.52M | -$31.79M | -$118.62M | -$15.22M | -$217.72M | -$5.96M | -$48.67M | -$8.12M | -$11.58M | $0 | $0 | $0 |
| Purchases of Investments | $0 | -$153.24M | $0 | -$1.41B | -$2.69B | -$600.72M | -$418.35M | -$314.4M | -$7.16M | -$31.79M | -$7.36M | -$9.16M | -$16.21M | -$1.43M | -$82.28M | -$21.23M | -$11M | $0 | $0 | $0 |
| Sales of Investments | $275.41M | $8.77M | $74.49M | $1.7B | $2.58B | $289.87M | $495.26M | $160.47M | $4.94M | $11.96M | $109.2M | $219.14M | $0 | -$117.68M | $0 | $501K | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$222.09M | -$148.72M | -$117.85M | $34.3M | -$310.99M | -$460.89M | $2.54M | $7.76M | -$204.66M | -$64.1M | -$281.12M | $66.18M | -$360.16M | -$106.11M | -$97.98M | -$69.64M | $10.35M | $4.33M | -$82.97M | -$9.51M |
| Net Cash from Investing | $23.17M | -$317.54M | -$64.51M | $27.25M | -$350.28M | -$484.38M | -$82.32M | -$298.32M | -$145.26M | -$94.23M | -$174.83M | $45.72M | -$382.48M | -$167.36M | -$214.78M | -$123.77M | -$108.38M | -$105.74M | -$82.97M | -$65.45M |
| Financing Activities | ||||||||||||||||||||
| Debt Repaid | $85.94M | $75.2M | $131.47M | $99.59M | -$111.02M | -$13.62M | $259.59M | -$384.14M | -$69.37M | $61.61M | -$28.68M | -$107.94M | -$251.79M | -$62.04M | -$260.53M | -$1.49M | -$62.9M | $12.24M | $134.87M | $116.48M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $239.95M | $0 | $326.65M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $978K | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | -$16.91M | -$29.41M | $0 | -$7.05M | -$5.28M | $0 | -$9.14M | -$20.83M | -$65.28M | -$46.51M | -$76.07M | -$83.97M | -$142.32M | -$106.36M | -$99.17M | -$92.69M | $0 |
| Other Financing Activities | -$17.86M | -$11.05M | -$9.4M | -$9.81M | $230.31M | -$8.23M | $0 | -$9.75M | $0 | $0 | $0 | -$219.14M | -$20.24M | $28.94M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | -$103.8M | -$86.25M | -$140.87M | -$126.32M | $311.92M | $5.39M | $53.29M | $369.11M | $69.37M | -$70.75M | $7.85M | -$176.49M | $205.28M | $14.91M | $176.56M | -$140.83M | -$90.26M | -$110.44M | -$227.56M | -$116.48M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$13.43M | -$19.02M | $44.41M | -$63.15M | -$45.88M | -$61.4M | $51.77M | $78.22M | -$71.29M | $39.52M | $8.29M | -$26M | $56.56M | -$70.67M | $46.25M | -$44.06M | $42.63M | $17.88M | $0 | $124.38M |
| Supplementary Data | ||||||||||||||||||||
| Operating Cash Flow | $67.2M | $384.78M | $249.79M | $35.92M | -$7.52M | $417.59M | $80.8M | $7.42M | $4.61M | $204.5M | $175.27M | $104.77M | $233.75M | $81.77M | $84.46M | $220.55M | $241.27M | $236.38M | $309.49M | $232.31M |
| Capital Expenditure | -$252.22M | -$173.05M | -$138.35M | -$263.1M | -$223.56M | -$173.3M | -$152.09M | -$135.75M | -$116.53M | -$74.4M | -$158.05M | -$149.04M | -$148.55M | -$172.41M | -$132.71M | -$113.15M | -$107.15M | -$110.07M | -$87.34M | -$55.94M |
| Free Cash Flow | -$185.02M | $211.73M | $111.44M | -$227.17M | -$231.08M | $244.29M | -$71.29M | -$128.33M | -$111.92M | $130.11M | $17.22M | -$44.27M | $85.2M | -$90.64M | -$48.25M | $107.4M | $134.12M | $126.31M | $222.15M | $176.37M |
| Cash at Beginning | $33.25M | $52.26M | $7.85M | $71M | $116.89M | $178.29M | $126.52M | $48.3M | $119.59M | $80.07M | $71.78M | $97.78M | $41.22M | $138.24M | $92M | $136.05M | $105.6M | $87.72M | $87.72M | $179 |
| Cash at End | $19.82M | $33.25M | $52.26M | $7.85M | $71M | $116.89M | $178.29M | $126.52M | $48.3M | $119.59M | $80.07M | $71.78M | $97.78M | $67.57M | $138.24M | $92M | $148.23M | $105.6M | $87.72M | $124.38M |