Arch Capital Group Ltd
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Let's analyse Arch Capital Group Ltd together

Penke I guess you are interested in Arch Capital Group Ltd. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Arch Capital Group Ltd. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Arch Capital Group Ltd (30 sec.)

What can you expect buying and holding a share of Arch Capital Group Ltd? (30 sec.)

How much money do you get?

$0.11

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$48.33

Expected worth in 1 year

$62.21

How sure are you?

72.5%

+ What do you gain per year?

Total Gains per Share

$13.99

Return On Investment

15.4%

For what price can you sell your share?

Current Price per Share

$90.90

Expected price per share

$80.97 - $95.01

How sure are you?

50%

1. Valuation of Arch Capital Group Ltd (5 min.)

Live pricePrice per Share (EOD)

$90.90

Book Value per Share

$48.33

Intrinsic Value Per Share

$98.68 - $265.90

Total Value Per Share

$147.01 - $314.23

My calculation of the intrinsic value of Arch Capital Group Ltd is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($1.51) 3Y: ($2.79) TTM: ($3.76)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.10) 3Y: ($0.25) TTM: ($0.44)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$6.73	$13.42	$7.56 - $15.19
2	$14.47	$30.29	$9.09 - $19.22
3	$23.08	$50.40	$10.61 - $23.25
4	$32.44	$73.54	$12.14 - $27.28
5	$42.43	$99.53	$13.66 - $31.31
6	$52.96	$128.17	$15.19 - $35.35
7	$63.93	$159.30	$16.71 - $39.38
8	$75.25	$192.73	$18.24 - $43.41
9	$86.86	$228.32	$19.76 - $47.44
10	$98.68	$265.90	$21.29 - $51.47

2. Growth of Arch Capital Group Ltd (5 min.)

Is Arch Capital Group Ltd growing?

	Current year	Previous year	Grow	Grow %
How rich?	$18.3b	$12.5b	$3b	19.5%

How much money is Arch Capital Group Ltd making?

	Current year	Previous year	Grow	Grow %
Making money	$1.1b	$364.8m	$745.9m	67.2%
Net Profit Margin	31.6%	14.3%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Arch Capital Group Ltd (5 min.)

What can you expect buying and holding a share of Arch Capital Group Ltd? (5 min.)

Welcome investor! Arch Capital Group Ltd's management wants to use your money to grow the business. In return you get a share of Arch Capital Group Ltd.

What can you expect buying and holding a share of Arch Capital Group Ltd?

First you should know what it really means to hold a share of Arch Capital Group Ltd. And how you can make/lose money.

Speculation

The Price per Share of Arch Capital Group Ltd is $90.90. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Arch Capital Group Ltd.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Arch Capital Group Ltd, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $48.33. Based on the TTM, the Book Value Change Per Share is $3.47 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.10 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.03 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Arch Capital Group Ltd.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	6.15	6.8%	2.91	3.2%	0.95	1.0%	1.39	1.5%	0.90	1.0%
Usd Book Value Change Per Share	8.16	9.0%	3.47	3.8%	-0.10	-0.1%	1.14	1.3%	0.86	0.9%
Usd Dividend Per Share	0.03	0.0%	0.03	0.0%	0.03	0.0%	0.03	0.0%	0.02	0.0%
Usd Total Gains Per Share	8.18	9.0%	3.50	3.8%	-0.08	-0.1%	1.17	1.3%	0.89	1.0%
Usd Price Per Share	74.27	-	74.18	-	50.56	-	46.78	-	57.27	-
Price to Earnings Ratio	3.02	-	8.36	-	165.09	-	40.67	-	38.20	-
Price-to-Total Gains Ratio	9.08	-	33.27	-	-28.45	-	23.43	-	-480.52	-
Price to Book Ratio	1.54	-	1.82	-	1.52	-	1.36	-	2.28	-
Price-to-Total Gains Ratio	9.08	-	33.27	-	-28.45	-	23.43	-	-480.52	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	90.9
Number of shares	11

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.03	0.03
Usd Book Value Change Per Share	3.47	1.14
Usd Total Gains Per Share	3.50	1.17
Gains per Quarter (11 shares)	38.48	12.88
Gains per Year (11 shares)	153.90	51.51

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	1	153	144	1	50	42
2	2	305	298	2	101	94
3	3	458	452	4	151	146
4	5	611	606	5	201	198
5	6	764	760	6	252	250
6	7	916	914	7	302	302
7	8	1069	1068	8	352	354
8	9	1222	1222	9	403	406
9	10	1375	1376	11	453	458
10	12	1527	1530	12	503	510

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	39.0	1.0	0.0	97.5%	102.0	11.0	0.0	90.3%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	8.0	4.0	0.0	66.7%	15.0	5.0	0.0	75.0%	29.0	11.0	0.0	72.5%	83.0	29.0	1.0	73.5%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	73.0	0.0	40.0	64.6%
Total Gains per Share	4.0	0.0	0.0	100.0%	8.0	4.0	0.0	66.7%	15.0	5.0	0.0	75.0%	29.0	11.0	0.0	72.5%	83.0	29.0	1.0	73.5%

Fundamentals of Arch Capital Group Ltd

About Arch Capital Group Ltd

https://www.archgroup.com
6400
Waterloo House, Pembroke, Bermuda, HM 08
Google Maps Bing Maps

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products. It also provides property, energy, marine, and aviation insurance; travel insurance; accident, disability, and medical plan insurance coverages; captive insurance programs; employer's liability; contract and commercial surety coverages; and collateral protection, debt cancellation, and service contract reimbursement products. This segment markets its products through a group of licensed independent retail and wholesale brokers. Its Reinsurance segment provides casualty reinsurance for third party liability exposures; marine and aviation; motor reinsurance, whole account multi-line treaties, cyber, trade credit, surety, accident and health, workers' compensation catastrophe, agriculture, trade credit, and political risk products; reinsurance protection for catastrophic losses, and personal lines and commercial property exposures; life reinsurance; casualty clash; and risk management solutions. This segment markets its reinsurance products through brokers. The company's Mortgage segment offers direct mortgage insurance and mortgage reinsurance. The company was founded in 1995 and is based in Pembroke, Bermuda.

Fundamental data was last updated by Penke on 2024-04-10 23:25:06.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating efficient.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very able to pay all its short-term debts.
The company is very able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Arch Capital Group Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Arch Capital Group Ltd earns for each $1 of revenue.

Above 10% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
A Net Profit Margin of 60.3% means that $0.60 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Arch Capital Group Ltd:

The MRQ is 60.3%. The company is making a huge profit. +2
The TTM is 31.6%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	60.3%	TTM	31.6%	+28.6%
TTM	31.6%	YOY	14.3%	+17.3%
TTM	31.6%	5Y	22.1%	+9.5%
5Y	22.1%	10Y	18.5%	+3.6%

Measures how much net profit Arch Capital Group Ltd earns for each $1 of revenue.

Revenue is the amount of profit Arch Capital Group Ltd generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Arch Capital Group Ltd earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be used to compare companies within the Insurance - Diversified industry.

You typically want a high profit margin. This means that for each $1 in sales, Arch Capital Group Ltd makes more profit. This shows the investor how efficiently Arch Capital Group Ltd is operating in general and compared to other companies in the same industry. Arch Capital Group Ltd operates in the Insurance - Diversified industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Arch Capital Group Ltd. If profit margins remain low (compared to the Insurance - Diversified industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Arch Capital Group Ltd is 0.60. This means that Arch Capital Group Ltd earned $0.60 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Arch Capital Group Ltd with other companies in the same industry (Insurance - Diversified).
Net profit margin should rise over the years.
Can be influenced when Arch Capital Group Ltd sells assets (profit will increase while costs remain the same).
It won’t show what part of Arch Capital Group Ltd is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Arch Capital Group Ltd

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Arch Capital Group Ltd = 2,334,000
Total revenue MRQ Arch Capital Group Ltd = 3,873,000
$2,334,000 / $3,873,000 = 0.60 or 60.3%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Arch Capital Group Ltd is using its assets to generate profit.

Above 5% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
4.7% Return on Assets means that Arch Capital Group Ltd generated $0.05 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Arch Capital Group Ltd:

The MRQ is 4.7%. Using its assets, the company is less efficient in making profit.
The TTM is 2.2%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	4.7%	TTM	2.2%	+2.5%
TTM	2.2%	YOY	0.8%	+1.4%
TTM	2.2%	5Y	1.2%	+0.9%
5Y	1.2%	10Y	0.9%	+0.3%

Shows how efficient Arch Capital Group Ltd is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Arch Capital Group Ltd is using its resources to generate profit. If the return on assets (4.7%) from Arch Capital Group Ltd are higher than the Insurance - Diversified mean () that means Arch Capital Group Ltd is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Arch Capital Group Ltd is 4.7%. This means the company generated $0.05 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Arch Capital Group Ltd

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Arch Capital Group Ltd = 2,334,000
Total assets MRQ (balance sheet) from Arch Capital Group Ltd = 49,672,000
2,334,000 / 49,672,000 = 0.05 or 4.7%

ROA is an important ratio as it will tell you how effectively Arch Capital Group Ltd is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Arch Capital Group Ltd is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
12.7% Return on Equity means Arch Capital Group Ltd generated $0.13 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Arch Capital Group Ltd:

The MRQ is 12.7%. Using its investors money, the company is less efficient in making profit.
The TTM is 6.8%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	12.7%	TTM	6.8%	+5.9%
TTM	6.8%	YOY	2.9%	+3.9%
TTM	6.8%	5Y	4.0%	+2.7%
5Y	4.0%	10Y	3.2%	+0.8%

Shows how efficient Arch Capital Group Ltd is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Insurance - Diversified industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Arch Capital Group Ltd is 12.7%. This means Arch Capital Group Ltd generated $0.13 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if Arch Capital Group Ltd existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Arch Capital Group Ltd

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Arch Capital Group Ltd = 2,334,000
Shareholders equity (balance sheet) MRQ Arch Capital Group Ltd = 18,353,000
2,334,000 / 18,353,000 = 0.13 or 12.7%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Arch Capital Group Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Arch Capital Group Ltd is operating .

Measures how much profit Arch Capital Group Ltd makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
An Operating Margin of 3.8% means the company generated $0.04 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Arch Capital Group Ltd:

The MRQ is 3.8%. The company is operating less efficient.
The TTM is 19.3%. The company is operating efficient. +1

Trends

Current period		Compared to		+/-
MRQ	3.8%	TTM	19.3%	-15.5%
TTM	19.3%	YOY	16.9%	+2.4%
TTM	19.3%	5Y	22.2%	-2.9%
5Y	22.2%	10Y	45.6%	-23.4%

Measures how efficient Arch Capital Group Ltd is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Arch Capital Group Ltd is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Arch Capital Group Ltd is 3.8%. This means that Arch Capital Group Ltd earned $0.04 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Arch Capital Group Ltd

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Arch Capital Group Ltd = 172,000
Total revenue MRQ Arch Capital Group Ltd = 3,873,000
$172,000 / $3,873,000 = 0.04 or 3.8%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Arch Capital Group Ltd is keeping operating costs low.

Below 1 is considered healthy (always compare to Insurance - Diversified industry mean).
An Operation Ratio of 0.27 means that the operating costs are $0.27 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Arch Capital Group Ltd:

The MRQ is 0.273. The company is very efficient in keeping operating costs low. +2
The TTM is -0.013.

Trends

Current period		Compared to		+/-
MRQ	0.273	TTM	-0.013	+0.286
TTM	-0.013	YOY	0.557	-0.570
TTM	-0.013	5Y	-0.069	+0.056
5Y	-0.069	10Y	-0.541	+0.472

Measures how efficient Arch Capital Group Ltd is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Arch Capital Group Ltd is 27.3%. This means that Arch Capital Group Ltd earned $0.27 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Arch Capital Group Ltd

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(0 +1,057,000) \ 3,873,000 = 0.27

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Arch Capital Group Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Arch Capital Group Ltd is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Insurance - Diversified industry mean).
A Current Ratio of 0.54 means the company has $0.54 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Arch Capital Group Ltd:

The MRQ is 0.540. The company is unable to pay all its short-term debts. -2
The TTM is 7.499. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	0.540	TTM	7.499	-6.959
TTM	7.499	YOY	5.340	+2.159
TTM	7.499	5Y	4.525	+2.974
5Y	4.525	10Y	0.978	+3.547

Measures if Arch Capital Group Ltd is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Insurance - Diversified industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Arch Capital Group Ltd if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Arch Capital Group Ltd is 0.54. This means Arch Capital Group Ltd has $0.54 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Arch Capital Group Ltd

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
10,819,000 \ 20,031,000) = 0.54

The current ratio measures if Arch Capital Group Ltd is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Arch Capital Group Ltd is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Arch Capital Group Ltd does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Arch Capital Group Ltd is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Arch Capital Group Ltd is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
A Quick Ratio of 1.20 means the company can pay off $1.20 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Arch Capital Group Ltd:

The MRQ is 1.204. The company is just able to pay all its short-term debts with the most liquid assets.
The TTM is 12.247. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	1.204	TTM	12.247	-11.043
TTM	12.247	YOY	16.143	-3.896
TTM	12.247	5Y	29.355	-17.108
5Y	29.355	10Y	-21.995	+51.349

Measures if Arch Capital Group Ltd is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Arch Capital Group Ltd can pay off its short term debts. This shows if Arch Capital Group Ltd can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Arch Capital Group Ltd is 1.20. This means that Arch Capital Group Ltd can pay off $1.20 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Arch Capital Group Ltd

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Arch Capital Group Ltd: (8,026,000 + 2,564,000 +13,522,000) / 20,031,000 = 1.20

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Arch Capital Group Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Arch Capital Group Ltd assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Arch Capital Group Ltd to Insurance - Diversified industry mean.
A Debt to Asset Ratio of 0.63 means that Arch Capital Group Ltd assets are financed with 63.0% credit (debt) and the remaining percentage (100% - 63.0%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Arch Capital Group Ltd:

The MRQ is 0.630. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.702. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.630	TTM	0.702	-0.072
TTM	0.702	YOY	0.730	-0.028
TTM	0.702	5Y	0.695	+0.007
5Y	0.695	10Y	0.689	+0.006

Measures how much % of Arch Capital Group Ltd assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Arch Capital Group Ltd than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Arch Capital Group Ltd to Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Arch Capital Group Ltd is 0.63. This means means that Arch Capital Group Ltd is financed with 63.0% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Arch Capital Group Ltd has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Arch Capital Group Ltd

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
31,317,000 \ 49,672,000 = 63.0% or 0.63.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Arch Capital Group Ltd is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
A Debt to Equity ratio of 170.6% means that company has $1.71 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Arch Capital Group Ltd:

The MRQ is 1.706. The company is just able to pay all its debts with equity.
The TTM is 2.415. The company is just not able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	1.706	TTM	2.415	-0.709
TTM	2.415	YOY	2.715	-0.300
TTM	2.415	5Y	2.389	+0.026
5Y	2.389	10Y	2.426	-0.037

Measures if Arch Capital Group Ltd is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Arch Capital Group Ltd is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Arch Capital Group Ltd is 1.71. This means that Arch Capital Group Ltd can pay off $1.71 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Arch Capital Group Ltd

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
31,317,000 \ 18,353,000 = 1.71 or 170.6%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Arch Capital Group Ltd

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Arch Capital Group Ltd generates.

Above 15 is considered overpriced but always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
A PE ratio of 3.02 means the investor is paying $3.02 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Arch Capital Group Ltd:

The EOD is 3.698. Based on the earnings, the company is cheap. +2
The MRQ is 3.021. Based on the earnings, the company is cheap. +2
The TTM is 8.356. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	3.698	MRQ	3.021	+0.677
MRQ	3.021	TTM	8.356	-5.335
TTM	8.356	YOY	165.090	-156.733
TTM	8.356	5Y	40.671	-32.315
5Y	40.671	10Y	38.203	+2.468

Measures how much money you pay for each share for every $1 in earnings Arch Capital Group Ltd generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Arch Capital Group Ltd to the Insurance - Diversified industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Arch Capital Group Ltd is 3.02. This means the investor is paying $3.02 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Insurance - Diversified industry is .
What is the trend?
The trend is important because it shows you how Arch Capital Group Ltd is performing over time. The most recent quarter might be important if Arch Capital Group Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Arch Capital Group Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Arch Capital Group Ltd

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 379,800 = EPS
PE ratio MRQ = 3.02

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Arch Capital Group Ltd:

The EOD is 5.231. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 4.274. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 5.274. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	5.231	MRQ	4.274	+0.957
MRQ	4.274	TTM	5.274	-1.000
TTM	5.274	YOY	5.663	-0.389
TTM	5.274	5Y	5.940	-0.665
5Y	5.940	10Y	25.632	-19.693

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Arch Capital Group Ltd is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Insurance - Diversified industry mean).
A PB ratio of 1.54 means the investor is paying $1.54 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Arch Capital Group Ltd:

The EOD is 1.881. Based on the equity, the company is underpriced. +1
The MRQ is 1.537. Based on the equity, the company is underpriced. +1
The TTM is 1.821. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.881	MRQ	1.537	+0.344
MRQ	1.537	TTM	1.821	-0.285
TTM	1.821	YOY	1.523	+0.298
TTM	1.821	5Y	1.359	+0.462
5Y	1.359	10Y	2.281	-0.922

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Arch Capital Group Ltd.

3.1. Institutions holding Arch Capital Group Ltd

Institutions are holding 88.727% of the shares of Arch Capital Group Ltd.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	10.8638	0.0661	40754882	86109	0.2117
2023-12-31	BlackRock Inc	7.2847	0.0518	27328171	982729	3.7302
2023-12-31	Artisan Partners Limited Partnership	6.6359	2.8467	24894249	-825883	-3.211
2023-12-31	BAMCO Inc	5.6757	4.2115	21292042	69114	0.3257
2023-12-31	State Street Corporation	4.2273	0.0573	15858402	711020	4.694
2023-12-31	WCM Investment Management	3.8596	2.9654	14479019	-1477725	-9.2608
2023-12-31	Capital World Investors	2.8285	0.1402	10611092	58862	0.5578
2023-12-31	Geode Capital Management, LLC	2.3754	0.0691	8911239	155211	1.7726
2023-12-31	Davis Asset Management, L.P.	1.9059	2.3576	7150000	5950000	495.8333
2023-12-31	Principal Financial Group Inc	1.6278	0.2892	6106628	-70259	-1.1374
2023-12-31	JPMorgan Chase & Co	1.5833	0.0424	5939722	1105635	22.8716
2023-12-31	Allspring Global Investments Holdings, LLC	1.5481	0.7151	5807793	-88039	-1.4932
2023-09-30	Marshfield Associates	1.5069	11.1448	5653238	-168399	-2.8926
2023-12-31	Goldman Sachs Group Inc	1.4234	0.0356	5339932	2530947	90.1018
2023-12-31	Wellington Management Company LLP	1.3748	0.0714	5157468	-3802617	-42.4395
2023-12-31	Northern Trust Corp	1.2119	0.0611	4546343	-106640	-2.2919
2023-12-31	NORGES BANK	1.1108	0.0541	4167178	866098	26.2368
2023-12-31	Nuveen Asset Management, LLC	0.999	0.0895	3747823	246423	7.0378
2023-12-31	Morgan Stanley - Brokerage Accounts	0.9831	0.0241	3688235	-206941	-5.3128
2023-12-31	Dimensional Fund Advisors, Inc.	0.938	0.0763	3518822	245966	7.5153
Total		59.9639	25.3693	224952278	+6261611	+2.8%

3.2. Funds holding Arch Capital Group Ltd

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Artisan International Value	4.5268	4.277	16982152	-589517	-3.3549
2023-12-31	Artisan International Value Investor	4.5268	4.0252	16982152	-589517	-3.3549
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.9625	0.0628	11113776	-25350	-0.2276
2024-02-29	Vanguard Institutional 500 Index Trust	2.4842	0.0763	9319479	97708	1.0595
2023-12-31	Baron Small Cap Growth Strategy	2.4124	8.5421	9050000	-10000	-0.1104
2023-12-31	Baron Growth Retail	2.4124	8.5043	9050000	-10000	-0.1104
2024-02-29	Vanguard Mid Cap Index Institutional	2.1117	0.4333	7921910	-21294	-0.2681
2024-03-31	Baron Partners Retail	1.722	9.8704	6460000	-40000	-0.6154
2023-12-31	WCM Inv Mgt Focused Growth Intl	1.5807	2.5217	5929797	-184229	-3.0132
2023-12-31	WCM Focused International Growth Instl	1.5807	2.5184	5929797	-184229	-3.0132
2023-12-31	American Funds New Perspective A	1.3786	0.3032	5171902	0	0
2023-12-31	Capital Group New Perspective Comp	1.3786	0.3032	5171902	0	0
2024-02-29	Principal MidCap R5	1.2541	1.7636	4704722	315672	7.1923
2024-03-31	Allspring Special Mid Cap Value Inst	1.2535	3.2524	4702550	0	0
2023-12-31	Allspring Special US Mid Cap Value Eq	1.2333	2.7371	4626700	0	0
2024-03-28	SPDR® S&P 500 ETF Trust	1.2019	0.0776	4508685	26400	0.589
2024-02-29	Fidelity 500 Index	1.193	0.0761	4475619	45035	1.0165
2023-12-31	Principal Aligned MidCap Equity	1.1293	1.4554	4236368	-25433	-0.5968
2024-03-28	iShares Core S&P 500 ETF	1.0252	0.0776	3846020	28288	0.741
2023-12-31	Capital Group Fundamental Invtrs Comp	0.7992	0.1781	2998153	0	0
Total		38.1669	51.0558	143181684	-1166466	-0.8%

3.3. Insider Transactions

Insiders are holding 3.008% of the shares of Arch Capital Group Ltd.

Date	Owner	Type	Amount	Price
2024-03-07	Francois Morin	SELL	25689	87.47
2024-03-07	Nicolas Papadopoulo	SELL	60000	87.52
2024-03-05	Maamoun Rajeh	SELL	50000	87.48
2023-11-22	Nicolas Papadopoulo	SELL	60000	85.8
2023-11-06	Marc Grandisson	SELL	103028	85.01
2023-11-02	David Gansberg	SELL	7350	89.49
2023-05-19	Marc Grandisson	SELL	200000	76.1
2023-05-10	Louis T Petrillo	SELL	15406	76.79
2023-05-09	Maamoun Rajeh	SELL	40000	76.41
2023-05-08	Francois Morin	SELL	10000	76.11
2023-05-03	Nicolas Papadopoulo	SELL	70000	75.48
2023-05-01	Maamoun Rajeh	SELL	35940	76.07

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Arch Capital Group Ltd compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	8.157	3.471	+135%	-0.104	+101%	1.144	+613%	0.863	+845%
Book Value Per Share	-	-	48.328	41.068	+18%	33.109	+46%	33.890	+43%	27.680	+75%
Current Ratio	-	-	0.540	7.499	-93%	5.340	-90%	4.525	-88%	0.978	-45%
Debt To Asset Ratio	-	-	0.630	0.702	-10%	0.730	-14%	0.695	-9%	0.689	-9%
Debt To Equity Ratio	-	-	1.706	2.415	-29%	2.715	-37%	2.389	-29%	2.426	-30%
Dividend Per Share	-	-	0.026	0.026	0%	0.027	-2%	0.027	-2%	0.023	+13%
Eps	-	-	6.145	2.910	+111%	0.952	+545%	1.394	+341%	0.902	+581%
Free Cash Flow Per Share	-	-	4.344	3.758	+16%	2.495	+74%	2.264	+92%	1.509	+188%
Free Cash Flow To Equity Per Share	-	-	4.358	3.727	+17%	2.031	+115%	2.064	+111%	1.494	+192%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	265.904	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	98.681	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	13.418	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	6.732	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	50.396	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	23.080	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	99.528	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	42.431	-	-	-	-	-	-	-	-
Market Cap	34100679772.800	+17%	28207746000.000	28100168000.000	+0%	19107869503.505	+48%	18332242900.200	+54%	22607734455.886	+25%
Net Profit Margin	-	-	0.603	0.316	+91%	0.143	+322%	0.221	+173%	0.185	+226%
Operating Margin	-	-	0.038	0.193	-80%	0.169	-77%	0.222	-83%	0.456	-92%
Operating Ratio	-	-	0.273	-0.013	+105%	0.557	-51%	-0.069	+125%	-0.541	+298%
Pb Ratio	1.881	+18%	1.537	1.821	-16%	1.523	+1%	1.359	+13%	2.281	-33%
Pe Ratio	3.698	+18%	3.021	8.356	-64%	165.090	-98%	40.671	-93%	38.203	-92%
Price Per Share	90.900	+18%	74.270	74.175	+0%	50.558	+47%	46.779	+59%	57.268	+30%
Price To Free Cash Flow Ratio	5.231	+18%	4.274	5.274	-19%	5.663	-25%	5.940	-28%	25.632	-83%
Price To Total Gains Ratio	11.108	+18%	9.076	33.275	-73%	-28.455	+414%	23.432	-61%	-480.522	+5394%
Quick Ratio	-	-	1.204	12.247	-90%	16.143	-93%	29.355	-96%	-21.995	+1927%
Return On Assets	-	-	0.047	0.022	+117%	0.008	+506%	0.012	+284%	0.009	+399%
Return On Equity	-	-	0.127	0.068	+87%	0.029	+345%	0.040	+214%	0.032	+296%
Total Gains Per Share	-	-	8.183	3.498	+134%	-0.077	+101%	1.171	+599%	0.887	+823%
Usd Book Value	-	-	18355000000.000	15559500000.000	+18%	12520074250.000	+47%	13375888350.000	+37%	10964232325.000	+67%
Usd Book Value Change Per Share	-	-	8.157	3.471	+135%	-0.104	+101%	1.144	+613%	0.863	+845%
Usd Book Value Per Share	-	-	48.328	41.068	+18%	33.109	+46%	33.890	+43%	27.680	+75%
Usd Dividend Per Share	-	-	0.026	0.026	0%	0.027	-2%	0.027	-2%	0.023	+13%
Usd Eps	-	-	6.145	2.910	+111%	0.952	+545%	1.394	+341%	0.902	+581%
Usd Free Cash Flow	-	-	1650000000.000	1424250000.000	+16%	940888750.000	+75%	885198550.000	+86%	591681225.000	+179%
Usd Free Cash Flow Per Share	-	-	4.344	3.758	+16%	2.495	+74%	2.264	+92%	1.509	+188%
Usd Free Cash Flow To Equity Per Share	-	-	4.358	3.727	+17%	2.031	+115%	2.064	+111%	1.494	+192%
Usd Market Cap	34100679772.800	+17%	28207746000.000	28100168000.000	+0%	19107869503.505	+48%	18332242900.200	+54%	22607734455.886	+25%
Usd Price Per Share	90.900	+18%	74.270	74.175	+0%	50.558	+47%	46.779	+59%	57.268	+30%
Usd Profit	-	-	2334000000.000	1110750000.000	+110%	364809750.000	+540%	555046400.000	+321%	363575200.000	+542%
Usd Revenue	-	-	3873000000.000	3355250000.000	+15%	2408121250.000	+61%	2352872950.000	+65%	1759570350.000	+120%
Usd Total Gains Per Share	-	-	8.183	3.498	+134%	-0.077	+101%	1.171	+599%	0.887	+823%
	EOD	+4 -4	MRQ	TTM	+27 -8	YOY	+28 -7	5Y	+26 -9	10Y	+31 -4

4.2. Fundamental Score

Let's check the fundamental score of Arch Capital Group Ltd based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	3.698
Price to Book Ratio (EOD)	Between	0-1	1.881
Net Profit Margin (MRQ)	Greater than	0	0.603
Operating Margin (MRQ)	Greater than	0	0.038
Quick Ratio (MRQ)	Greater than	1	1.204
Current Ratio (MRQ)	Greater than	1	0.540
Debt to Asset Ratio (MRQ)	Less than	1	0.630
Debt to Equity Ratio (MRQ)	Less than	1	1.706
Return on Equity (MRQ)	Greater than	0.15	0.127
Return on Assets (MRQ)	Greater than	0.05	0.047
Total			5/10 (50.0%)

Create your own Stock Scanner

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4.3. Technical Score

Let's check the technical score of Arch Capital Group Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	47.616
Ma 20	Greater than	Ma 50	92.081
Ma 50	Greater than	Ma 100	90.236
Ma 100	Greater than	Ma 200	84.533
Open	Greater than	Close	92.110
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
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Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Tax Provision		60,919	3,081	64,000	3,000	67,000	5,000	72,000	-1,148,000	-1,076,000
Income Tax Expense		60,919	3,081	64,000	3,000	67,000	5,000	72,000	-1,148,000	-1,076,000

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	49,672,000
Total Liabilities	31,317,000
Total Stockholder Equity	18,353,000

	As reported
Total Liabilities	31,317,000
Total Stockholder Equity	+ 18,353,000
Total Assets	= 49,672,000

Assets

Total Assets	49,672,000
Total Current Assets	10,819,000
Long-term Assets	38,853,000

Total Current Assets

Total Current Assets (as reported)	10,819,000
Cash And Cash Equivalents	1,498,000
Short-term Investments	2,564,000
Net Receivables	13,522,000
Inventory	-21,548,000
Other Current Assets	10,819,000
Total Current Assets (calculated)	6,855,000
+/-	3,964,000

Long-term Assets

Long-term Assets (as reported)	38,853,000
Property Plant Equipment	125,000
Goodwill	345,000
Long Term Investments	32,487,000
Intangible Assets	386,000
Long-term Assets (calculated)	33,343,000
+/-	5,510,000

Liabilities & Shareholders' Equity

Total Current Liabilities	20,031,000
Long-term Liabilities	11,286,000
Total Stockholder Equity	18,353,000

Total Current Liabilities

Total Current Liabilities (as reported)	20,031,000
Accounts payable	3,817,000
Other Current Liabilities	16,214,000
Total Current Liabilities (calculated)	20,031,000
+/-	0

Long-term Liabilities

Long-term Liabilities (as reported)	11,286,000
Long term Debt	2,726,000
Long-term Liabilities (calculated)	2,726,000
+/-	8,560,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	18,353,000
Common Stock	1,000
Retained Earnings	20,295,000
Other Stockholders Equity	-2,097,000
Total Stockholder Equity (calculated)	18,199,000
+/-	154,000

Other

Capital Stock	831,000
Cash and Short Term Investments	8,026,000
Common Stock Shares Outstanding	379,800
Liabilities and Stockholders Equity	49,672,000
Net Debt	1,384,000
Net Invested Capital	20,249,000
Net Working Capital	-9,212,000
Short Long Term Debt Total	2,882,000

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-12-31

1999-09-30

1999-06-30

1999-03-31

1998-12-31

1998-09-30

1998-06-30

1998-03-31

1997-12-31

1997-09-30

1997-06-30

1997-03-31

1996-12-31

1996-09-30

1996-06-30

1996-03-31

1995-09-30

> Total Assets

345,300
369,700
366,700
404,000
432,486
455,900
512,900
557,200
581,247
638,700
670,600
710,200
757,830
792,700
858,800
871,000
864,359
774,250
268,583
277,011
298,926
298,926
546,082
565,555
1,313,701
1,610,757
2,007,736
2,446,469
2,991,328
3,706,782
4,203,006
5,202,953
5,585,321
6,509,870
6,916,133
7,658,528
8,218,754
8,615,677
9,128,644
10,926,753
11,488,436
12,361,140
13,087,713
13,953,876
14,312,467
14,961,871
15,293,768
15,464,002
15,624,267
16,354,475
16,281,502
16,130,802
14,616,545
16,092,287
16,641,935
17,183,154
15,375,790
16,935,106
16,777,399
17,701,397
15,770,792
17,191,966
17,213,806
17,430,028
17,141,769
17,812,783
18,496,723
18,889,757
17,816,762
18,757,061
18,917,683
18,930,823
19,566,094
21,800,358
22,573,515
22,610,685
22,009,543
22,702,685
23,084,925
23,770,592
23,177,270
24,541,369
24,411,917
25,643,231
29,372,109
30,092,226
30,862,639
32,624,797
32,051,658
32,131,955
31,853,120
32,252,534
32,218,329
33,977,037
34,851,670
35,572,603
37,885,361
38,416,126
41,199,648
42,716,035
43,282,297
44,204,267
46,481,886
44,783,736
45,100,945
45,677,941
45,719,194
46,337,104
47,990,507
51,103,000
53,856,000
55,227,000
49,672,000

49,672,000

55,227,000

53,856,000

51,103,000

47,990,507

46,337,104

45,719,194

45,677,941

45,100,945

44,783,736

46,481,886

44,204,267

43,282,297

42,716,035

41,199,648

38,416,126

37,885,361

35,572,603

34,851,670

33,977,037

32,218,329

32,252,534

31,853,120

32,131,955

32,051,658

32,624,797

30,862,639

30,092,226

29,372,109

25,643,231

24,411,917

24,541,369

23,177,270

23,770,592

23,084,925

22,702,685

22,009,543

22,610,685

22,573,515

21,800,358

19,566,094

18,930,823

18,917,683

18,757,061

17,816,762

18,889,757

18,496,723

17,812,783

17,141,769

17,430,028

17,213,806

17,191,966

15,770,792

17,701,397

16,777,399

16,935,106

15,375,790

17,183,154

16,641,935

16,092,287

14,616,545

16,130,802

16,281,502

16,354,475

15,624,267

15,464,002

15,293,768

14,961,871

14,312,467

13,953,876

13,087,713

12,361,140

11,488,436

10,926,753

9,128,644

8,615,677

8,218,754

7,658,528

6,916,133

6,509,870

5,585,321

5,202,953

4,203,006

3,706,782

2,991,328

2,446,469

2,007,736

1,610,757

1,313,701

565,555

546,082

298,926

277,011

268,583

774,250

864,359

871,000

858,800

792,700

757,830

710,200

670,600

638,700

581,247

557,200

512,900

455,900

432,486

404,000

366,700

369,700

345,300

> Total Current Assets

400
0
5,000
0
131,119
46,400
43,500
51,300
145,688
58,000
64,800
88,000
240,543
107,800
126,100
146,100
283,442
389,952
56,671
62,860
0
109,861
180,958
169,000
651,113
737,849
702,813
749,735
572,258
1,100,742
306,963
1,425,631
286,247
437,403
272,152
231,023
248,205
291,940
338,285
646,916
904,364
1,300,659
1,340,044
1,075,326
1,274,715
1,021,931
1,359,628
1,566,707
938,951
889,965
892,131
1,102,880
731,325
993,745
997,552
1,091,306
906,060
1,008,506
895,773
1,146,668
1,278,581
1,537,019
1,115,496
1,169,557
1,255,918
1,535,055
1,443,302
1,267,598
1,093,162
1,300,181
1,466,151
1,429,516
1,912,424
3,053,885
1,903,501
1,412,385
1,282,928
1,326,044
1,400,801
1,358,207
1,141,230
1,181,805
1,370,122
1,763,224
1,454,947
1,507,373
1,654,676
2,508,397
2,075,241
1,648,280
1,623,426
1,612,836
1,602,436
1,339,314
1,427,277
1,632,088
1,682,776
3,982,019
5,335,878
5,240,806
4,895,956
4,829,757
6,349,250
7,015,406
32,738,369
32,771,669
32,729,851
6,333,820
18,675
36,782,000
37,814,000
38,589,000
10,819,000

10,819,000

38,589,000

37,814,000

36,782,000

18,675

6,333,820

32,729,851

32,771,669

32,738,369

7,015,406

6,349,250

4,829,757

4,895,956

5,240,806

5,335,878

3,982,019

1,682,776

1,632,088

1,427,277

1,339,314

1,602,436

1,612,836

1,623,426

1,648,280

2,075,241

2,508,397

1,654,676

1,507,373

1,454,947

1,763,224

1,370,122

1,181,805

1,141,230

1,358,207

1,400,801

1,326,044

1,282,928

1,412,385

1,903,501

3,053,885

1,912,424

1,429,516

1,466,151

1,300,181

1,093,162

1,267,598

1,443,302

1,535,055

1,255,918

1,169,557

1,115,496

1,537,019

1,278,581

1,146,668

895,773

1,008,506

906,060

1,091,306

997,552

993,745

731,325

1,102,880

892,131

889,965

938,951

1,566,707

1,359,628

1,021,931

1,274,715

1,075,326

1,340,044

1,300,659

904,364

646,916

338,285

291,940

248,205

231,023

272,152

437,403

286,247

1,425,631

306,963

1,100,742

572,258

749,735

702,813

737,849

651,113

169,000

180,958

109,861

62,860

56,671

389,952

283,442

146,100

126,100

107,800

240,543

88,000

64,800

58,000

145,688

51,300

43,500

46,400

131,119

5,000

400

Cash And Cash Equivalents

0
0
5,000
0
1,466
11,000
4,000
4,000
9,014
4,000
4,000
5,000
12,037
4,000
11,000
13,000
9,457
11,447
17,374
15,756
11,481
11,481
12,123
14,671
9,970
18,977
37,641
57,764
91,717
88,882
62,013
55,888
56,899
78,558
188,121
92,763
113,052
86,723
162,017
161,759
222,477
247,906
366,373
188,139
317,017
225,249
245,143
250,804
239,915
258,680
246,544
239,097
251,739
244,037
336,693
385,149
334,571
338,708
341,469
365,997
362,740
406,877
411,001
369,895
351,699
422,806
355,392
422,440
371,041
356,767
375,119
436,141
434,057
1,569,605
926,443
663,726
485,702
471,012
525,074
649,779
553,326
557,961
516,591
578,816
842,942
703,754
740,320
862,361
606,199
680,891
526,628
651,037
646,556
633,100
605,316
880,099
726,230
882,284
854,259
976,398
906,448
941,951
1,234,059
1,137,721
858,668
812,917
813,548
813,583
855,118
803,000
904,000
859,000
1,498,000

1,498,000

859,000

904,000

803,000

855,118

813,583

813,548

812,917

858,668

1,137,721

1,234,059

941,951

906,448

976,398

854,259

882,284

726,230

880,099

605,316

633,100

646,556

651,037

526,628

680,891

606,199

862,361

740,320

703,754

842,942

578,816

516,591

557,961

553,326

649,779

525,074

471,012

485,702

663,726

926,443

1,569,605

434,057

436,141

375,119

356,767

371,041

422,440

355,392

422,806

351,699

369,895

411,001

406,877

362,740

365,997

341,469

338,708

334,571

385,149

336,693

244,037

251,739

239,097

246,544

258,680

239,915

250,804

245,143

225,249

317,017

188,139

366,373

247,906

222,477

161,759

162,017

86,723

113,052

92,763

188,121

78,558

56,899

55,888

62,013

88,882

91,717

57,764

37,641

18,977

9,970

14,671

12,123

11,481

15,756

17,374

11,447

9,457

13,000

11,000

4,000

12,037

5,000

4,000

9,014

4,000

11,000

1,466

5,000

Short-term Investments

0
0
0
0
104,886
0
0
0
89,167
0
0
0
108,809
0
0
0
72,785
140,766
38,806
47,036
97,387
97,387
65,598
85,928
476,820
326,737
175,720
229,708
480,541
175,560
244,950
397,641
229,348
358,845
84,031
138,260
135,153
205,217
176,268
485,157
1,575,266
1,935,703
1,735,897
1,731,617
1,849,074
1,956,780
2,229,444
2,236,209
2,202,759
1,860,153
1,563,794
933,797
1,209,780
1,300,529
1,217,332
1,317,653
571,489
847,752
763,939
980,691
985,501
1,140,093
704,495
799,662
904,219
1,470,241
1,469,486
1,323,015
10,874,858
11,175,930
11,099,653
11,133,915
11,546,967
11,808,178
12,300,410
12,064,116
12,206,178
12,110,880
11,504,953
11,875,322
11,665,662
11,776,016
12,394,810
12,732,924
14,556,623
14,978,145
15,046,384
15,916,082
15,840,849
15,859,980
15,760,269
15,737,558
15,993,789
16,379,421
17,374,636
17,772,997
18,689,997
18,968,005
19,485,597
20,491,985
20,642,747
19,992,666
22,015,944
21,628,968
21,536,995
20,984,049
20,585,592
20,871,453
21,014,451
23,104,000
23,136,000
24,167,000
2,564,000

2,564,000

24,167,000

23,136,000

23,104,000

21,014,451

20,871,453

20,585,592

20,984,049

21,536,995

21,628,968

22,015,944

19,992,666

20,642,747

20,491,985

19,485,597

18,968,005

18,689,997

17,772,997

17,374,636

16,379,421

15,993,789

15,737,558

15,760,269

15,859,980

15,840,849

15,916,082

15,046,384

14,978,145

14,556,623

12,732,924

12,394,810

11,776,016

11,665,662

11,875,322

11,504,953

12,110,880

12,206,178

12,064,116

12,300,410

11,808,178

11,546,967

11,133,915

11,099,653

11,175,930

10,874,858

1,323,015

1,469,486

1,470,241

904,219

799,662

704,495

1,140,093

985,501

980,691

763,939

847,752

571,489

1,317,653

1,217,332

1,300,529

1,209,780

933,797

1,563,794

1,860,153

2,202,759

2,236,209

2,229,444

1,956,780

1,849,074

1,731,617

1,735,897

1,935,703

1,575,266

485,157

176,268

205,217

135,153

138,260

84,031

358,845

229,348

397,641

244,950

175,560

480,541

229,708

175,720

326,737

476,820

85,928

65,598

97,387

47,036

38,806

140,766

72,785

108,809

89,167

104,886

Net Receivables

400
0
0
0
24,767
35,400
39,500
47,300
47,507
54,000
60,800
83,000
119,697
103,800
115,100
133,100
201,200
237,739
491
68
993
993
103,237
68,401
164,323
392,135
489,452
462,263
569,278
836,300
885,793
972,102
905,032
1,117,723
1,132,760
1,244,768
1,243,237
1,414,595
1,453,027
2,016,448
2,143,618
2,378,190
2,729,953
2,671,801
2,614,435
2,776,351
2,774,136
2,699,318
2,488,895
3,315,379
1,912,640
1,837,694
734,024
1,912,620
1,928,628
1,696,237
782,201
2,126,470
1,790,625
1,992,142
559,579
1,382,852
1,446,328
1,674,151
1,712,685
2,083,728
2,443,032
2,516,842
3,424,638
3,624,673
3,674,767
3,675,046
3,622,500
3,917,391
4,129,487
4,128,193
4,070,732
4,244,441
4,406,001
4,343,424
4,337,112
4,701,516
4,896,003
4,908,397
4,904,009
5,153,536
5,296,637
5,640,041
5,653,806
5,887,668
6,122,935
6,124,519
6,297,633
6,772,225
6,879,841
6,881,064
8,244,993
8,599,063
8,746,384
9,032,862
8,552,312
8,578,906
9,064,041
9,991,562
10,342,706
10,974,703
11,330,711
11,671,566
11,919,724
12,875,000
13,774,000
13,563,000
13,522,000

13,522,000

13,563,000

13,774,000

12,875,000

11,919,724

11,671,566

11,330,711

10,974,703

10,342,706

9,991,562

9,064,041

8,578,906

8,552,312

9,032,862

8,746,384

8,599,063

8,244,993

6,881,064

6,879,841

6,772,225

6,297,633

6,124,519

6,122,935

5,887,668

5,653,806

5,640,041

5,296,637

5,153,536

4,904,009

4,908,397

4,896,003

4,701,516

4,337,112

4,343,424

4,406,001

4,244,441

4,070,732

4,128,193

4,129,487

3,917,391

3,622,500

3,675,046

3,674,767

3,624,673

3,424,638

2,516,842

2,443,032

2,083,728

1,712,685

1,674,151

1,446,328

1,382,852

559,579

1,992,142

1,790,625

2,126,470

782,201

1,696,237

1,928,628

1,912,620

734,024

1,837,694

1,912,640

3,315,379

2,488,895

2,699,318

2,774,136

2,776,351

2,614,435

2,671,801

2,729,953

2,378,190

2,143,618

2,016,448

1,453,027

1,414,595

1,243,237

1,244,768

1,132,760

1,117,723

905,032

972,102

885,793

836,300

569,278

462,263

489,452

392,135

164,323

68,401

103,237

993

491

237,739

201,200

133,100

115,100

103,800

119,697

83,000

60,800

54,000

47,507

47,300

39,500

35,400

24,767

400

Other Current 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
1,820,925
0
2,974,368
3,741,440
4,358,160
4,918,862
5,479,798
6,151,314
6,710,646
6,892,476
7,320,666
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,742,304
10,576,259
9,895,899
10,399,673
10,105,765
9,885,708
0
0
10,324,884
-938,631
-4,435,561
-4,774,393
-4,558,310
-4,894,322
-5,367,895
-4,878,342
-5,103,982
-75,136
-87,076
163,565
-34,246
778,105
736,942
495,367
810,612
1,273,170
1,137,359
1,458,183
1,259,484
1,275,070
1,150,918
861,715
833,064
716,766
425,933
-6,931,297
530,845
-778,160
-1,496,576
4,778,877
5,069,946
4,604,101
-27,486,303
4,411,061
-29,950,531
5,966,188
-26,402,624
9,573,587
9,265,441
-33,770,618
9,778,000
11,026,000
10,751,000
10,819,000

10,819,000

10,751,000

11,026,000

9,778,000

-33,770,618

9,265,441

9,573,587

-26,402,624

5,966,188

-29,950,531

4,411,061

-27,486,303

4,604,101

5,069,946

4,778,877

-1,496,576

-778,160

530,845

-6,931,297

425,933

716,766

833,064

861,715

1,150,918

1,275,070

1,259,484

1,458,183

1,137,359

1,273,170

810,612

495,367

736,942

778,105

-34,246

163,565

-87,076

-75,136

-5,103,982

-4,878,342

-5,367,895

-4,894,322

-4,558,310

-4,774,393

-4,435,561

-938,631

10,324,884

9,885,708

10,105,765

10,399,673

9,895,899

10,576,259

9,742,304

7,320,666

6,892,476

6,710,646

6,151,314

5,479,798

4,918,862

4,358,160

3,741,440

2,974,368

1,820,925

> Long-term Assets

0
0
0
0
362,627
0
0
0
401,378
0
0
0
438,027
0
0
0
492,483
389,955
160,518
175,702
0
193,295
236,799
244,721
971,660
1,026,970
1,261,323
1,562,796
45,381
2,235,303
49,819
3,317,554
69,861
68,482
85,298
74,866
75,411
77,787
70,767
57,320
10,584,072
83,595
84,021
76,765
13,037,752
64,271
70,688
64,474
57,051
55,645
66,944
72,118
60,192
62,210
63,838
221,780
138,526
140,962
173,231
388,370
204,503
225,405
263,584
146,576
153,923
234,468
193,097
324,132
287,017
229,563
-49,322
41,955
17,653,670
244,594
352,604
213,714
109,539
264,768
168,959
113,429
97,531
194,299
252,161
210,693
781,553
734,638
791,416
814,087
652,611
491,995
398,851
345,621
634,920
697,538
847,837
836,214
738,083
727,394
1,037,978
1,100,134
692,863
885,336
897,201
1,012,506
26,695,244
26,380,274
25,917,550
806,655
804,289
28,800,000
29,868,000
31,051,000
38,853,000

38,853,000

31,051,000

29,868,000

28,800,000

804,289

806,655

25,917,550

26,380,274

26,695,244

1,012,506

897,201

885,336

692,863

1,100,134

1,037,978

727,394

738,083

836,214

847,837

697,538

634,920

345,621

398,851

491,995

652,611

814,087

791,416

734,638

781,553

210,693

252,161

194,299

97,531

113,429

168,959

264,768

109,539

213,714

352,604

244,594

17,653,670

41,955

-49,322

229,563

287,017

324,132

193,097

234,468

153,923

146,576

263,584

225,405

204,503

388,370

173,231

140,962

138,526

221,780

63,838

62,210

60,192

72,118

66,944

55,645

57,051

64,474

70,688

64,271

13,037,752

76,765

84,021

83,595

10,584,072

57,320

70,767

77,787

75,411

74,866

85,298

68,482

69,861

3,317,554

49,819

2,235,303

45,381

1,562,796

1,261,323

1,026,970

971,660

244,721

236,799

193,295

175,702

160,518

389,955

492,483

438,027

401,378

362,627

Property Plant Equipment

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
428
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
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
140,741
134,061
131,424
131,661
127,766
119,494
0
115,911
0
0
0
106,836
27,029,719
0
0
123,083
0
31,187,000
32,504,000
125,000

125,000

32,504,000

31,187,000

123,083

27,029,719

106,836

115,911

119,494

127,766

131,661

131,424

134,061

140,741

428

Goodwill

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,111
6,111
26,626
26,587
26,336
28,540
28,823
28,558
28,867
28,867
35,882
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
0
0
0
0
0
14,946
0
0
0
15,536
0
0
0
204,022
204,022
0
0
198,236
0
0
0
249,620
0
0
0
326,551
0
0
0
314,629
0
0
0
344,865
0
-1,069,845
0
342,073
0
0
0
345,000

345,000

342,073

-1,069,845

344,865

314,629

326,551

249,620

198,236

204,022

15,536

14,946

35,882

28,867

28,558

28,823

28,540

26,336

26,587

26,626

6,111

Long 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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
11,798,440
11,950,301
12,015,164
12,151,521
0
0
0
0
12,870,272
13,140,487
13,161,725
13,242,767
13,783,438
14,006,001
15,331,938
15,272,803
15,495,991
15,575,650
15,427,069
15,891,579
15,930,147
16,415,816
16,753,205
17,636,244
19,844,134
20,358,838
20,807,714
22,032,985
21,953,145
21,846,824
21,651,725
21,772,971
21,859,925
22,440,814
23,247,215
23,733,531
24,520,183
24,254,950
26,566,841
27,798,476
28,864,657
28,462,255
25,286,878
25,482,086
25,750,261
25,453,847
25,049,536
25,328,611
26,613,334
28,015,000
29,093,000
30,312,000
32,487,000

32,487,000

30,312,000

29,093,000

28,015,000

26,613,334

25,328,611

25,049,536

25,453,847

25,750,261

25,482,086

25,286,878

28,462,255

28,864,657

27,798,476

26,566,841

24,254,950

24,520,183

23,733,531

23,247,215

22,440,814

21,859,925

21,772,971

21,651,725

21,846,824

21,953,145

22,032,985

20,807,714

20,358,838

19,844,134

17,636,244

16,753,205

16,415,816

15,930,147

15,891,579

15,427,069

15,575,650

15,495,991

15,272,803

15,331,938

14,006,001

13,783,438

13,242,767

13,161,725

13,140,487

12,870,272

12,151,521

12,015,164

11,950,301

11,798,440

Intangible Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,111
0
0
0
26,336
28,540
28,823
28,558
28,867
28,867
35,882
35,882
35,882
35,882
31,423
31,423
16,666
16,666
16,666
0
16,700
0
0
0
16,700
0
0
0
28,500
0
0
0
27,400
0
0
0
24,200
0
0
0
23,200
0
0
0
22,300
0
0
0
38,259
0
0
0
27,319
120,875
118,721
111,528
94,593
106,745
102,518
103,620
81,995
92,670
88,327
90,941
577,531
577,531
712,975
684,405
454,375
626,004
593,008
566,662
385,300
659,215
641,010
624,500
411,532
705,450
688,490
713,777
378,234
679,509
667,153
963,322
600,118
926,427
1,937,859
806,655
462,216
785,000
775,000
739,000
386,000

386,000

739,000

775,000

785,000

462,216

806,655

1,937,859

926,427

600,118

963,322

667,153

679,509

378,234

713,777

688,490

705,450

411,532

624,500

641,010

659,215

385,300

566,662

593,008

626,004

454,375

684,405

712,975

577,531

90,941

88,327

92,670

81,995

103,620

102,518

106,745

94,593

111,528

118,721

120,875

27,319

38,259

22,300

23,200

24,200

27,400

28,500

16,700

16,666

31,423

35,882

28,867

28,558

28,823

28,540

26,336

6,111

Long-term Assets Other

0
0
0
0
-362,627
0
0
0
-401,378
0
0
0
-438,027
0
0
0
-492,483
-389,955
-160,518
-175,702
0
-193,295
-236,799
-244,721
-971,660
-1,026,970
-1,261,323
-1,562,796
-1,862,645
-2,235,303
-2,538,173
-3,317,554
-3,627,772
-4,257,935
-4,545,168
-5,234,212
-5,680,274
-5,937,783
-6,300,516
-5,639,110
3,727,819
-7,349,859
-7,684,492
-8,458,730
5,172,933
-7,799,182
-8,067,165
-8,694,072
-7,877,712
-8,261,762
-9,761,969
-8,891,704
-9,731,369
-10,235,777
-10,632,263
-11,061,468
-10,458,139
-10,651,962
-10,704,337
-11,327,558
-10,431,584
-10,698,889
-10,671,899
-10,986,252
-10,817,518
-11,356,840
-11,618,277
-11,919,159
-12,755,993
-12,991,149
-13,052,250
-13,136,204
4,037,664
-13,850,036
-15,184,466
-15,103,509
-15,377,374
-15,385,634
-14,969,043
-15,528,778
-15,453,605
-15,739,259
-16,329,562
-17,088,282
-18,957,086
-19,716,309
-20,071,309
-21,388,629
-21,363,397
-21,373,667
-21,300,462
-21,359,535
-21,471,151
-21,912,823
-22,677,643
-23,187,072
-24,013,870
-23,954,577
-25,990,987
-27,627,277
-24,135,466
-24,521,682
-25,286,878
-25,482,086
-26,695,244
-26,380,274
1,258,265
-23,436,784
-26,613,334
1,297,000
-29,868,000
-31,051,000
29,355,000

29,355,000

-31,051,000

-29,868,000

1,297,000

-26,613,334

-23,436,784

1,258,265

-26,380,274

-26,695,244

-25,482,086

-25,286,878

-24,521,682

-24,135,466

-27,627,277

-25,990,987

-23,954,577

-24,013,870

-23,187,072

-22,677,643

-21,912,823

-21,471,151

-21,359,535

-21,300,462

-21,373,667

-21,363,397

-21,388,629

-20,071,309

-19,716,309

-18,957,086

-17,088,282

-16,329,562

-15,739,259

-15,453,605

-15,528,778

-14,969,043

-15,385,634

-15,377,374

-15,103,509

-15,184,466

-13,850,036

4,037,664

-13,136,204

-13,052,250

-12,991,149

-12,755,993

-11,919,159

-11,618,277

-11,356,840

-10,817,518

-10,986,252

-10,671,899

-10,698,889

-10,431,584

-11,327,558

-10,704,337

-10,651,962

-10,458,139

-11,061,468

-10,632,263

-10,235,777

-9,731,369

-8,891,704

-9,761,969

-8,261,762

-7,877,712

-8,694,072

-8,067,165

-7,799,182

5,172,933

-8,458,730

-7,684,492

-7,349,859

3,727,819

-5,639,110

-6,300,516

-5,937,783

-5,680,274

-5,234,212

-4,545,168

-4,257,935

-3,627,772

-3,317,554

-2,538,173

-2,235,303

-1,862,645

-1,562,796

-1,261,323

-1,026,970

-971,660

-244,721

-236,799

-193,295

-175,702

-160,518

-389,955

-492,483

-438,027

-401,378

-362,627

> Total Liabilities

10,300
29,000
25,600
55,700
80,273
98,400
133,700
161,000
180,216
220,600
255,100
315,100
359,828
430,000
487,200
509,600
517,845
524,997
13,678
8,585
23,608
23,608
274,430
289,197
293,332
590,600
761,689
1,075,561
1,580,084
2,226,184
2,636,664
3,566,714
3,874,592
4,499,673
4,878,629
5,530,074
5,976,848
6,326,813
6,625,252
8,575,222
9,007,909
9,611,586
10,071,933
10,607,627
10,721,848
11,178,523
11,589,701
11,589,207
11,588,456
12,349,931
12,395,269
12,614,092
11,183,580
12,461,891
12,611,967
12,722,332
11,052,441
12,556,349
12,379,396
12,983,487
11,257,789
12,866,431
12,772,537
12,955,657
12,513,283
12,973,327
13,476,407
13,540,963
12,647,884
13,421,531
13,683,365
13,487,538
13,918,598
14,895,495
15,332,450
15,528,200
14,890,897
15,404,785
15,947,534
16,628,526
16,028,376
17,167,593
16,714,040
17,250,642
20,060,984
20,412,552
20,880,560
22,646,926
21,805,723
21,921,458
21,622,107
21,814,433
21,780,650
22,817,977
23,032,496
23,510,794
25,569,809
26,500,721
28,472,748
29,448,283
29,294,856
30,173,261
31,519,407
31,385,973
31,545,816
32,748,589
33,293,169
34,533,086
35,069,605
37,104,000
39,213,000
39,986,000
31,317,000

31,317,000

39,986,000

39,213,000

37,104,000

35,069,605

34,533,086

33,293,169

32,748,589

31,545,816

31,385,973

31,519,407

30,173,261

29,294,856

29,448,283

28,472,748

26,500,721

25,569,809

23,510,794

23,032,496

22,817,977

21,780,650

21,814,433

21,622,107

21,921,458

21,805,723

22,646,926

20,880,560

20,412,552

20,060,984

17,250,642

16,714,040

17,167,593

16,028,376

16,628,526

15,947,534

15,404,785

14,890,897

15,528,200

15,332,450

14,895,495

13,918,598

13,487,538

13,683,365

13,421,531

12,647,884

13,540,963

13,476,407

12,973,327

12,513,283

12,955,657

12,772,537

12,866,431

11,257,789

12,983,487

12,379,396

12,556,349

11,052,441

12,722,332

12,611,967

12,461,891

11,183,580

12,614,092

12,395,269

12,349,931

11,588,456

11,589,207

11,589,701

11,178,523

10,721,848

10,607,627

10,071,933

9,611,586

9,007,909

8,575,222

6,625,252

6,326,813

5,976,848

5,530,074

4,878,629

4,499,673

3,874,592

3,566,714

2,636,664

2,226,184

1,580,084

1,075,561

761,689

590,600

293,332

289,197

274,430

23,608

8,585

13,678

524,997

517,845

509,600

487,200

430,000

359,828

315,100

255,100

220,600

180,216

161,000

133,700

98,400

80,273

55,700

25,600

29,000

10,300

> Total Current Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,666
0
0
0
0
0
0
0
0
0
0
0
45,960
0
5,658
200,000
3,875,000
45,707
4,579,000
5,230,000
5,677,000
6,027,000
6,325,000
8,275,000
71,139
9,312,000
9,772,000
10,308,000
63,606
64,271
11,290,000
11,289,000
11,288,000
12,050,000
354,830
314,550
238,509
246,981
258,974
259,898
256,500
214,254
253,723
255,274
132,452
231,512
254,860
223,815
133,866
237,791
284,763
272,016
1,154,274
1,212,267
1,258,000
1,319,493
74,964
1,420,785
1,597,739
1,631,178
128,856
1,639,877
1,745,600
2,010,793
-16,502
2,262,962
2,294,243
2,319,229
-114,541
2,822,586
2,874,418
3,042,596
118,044
3,137,491
3,027,693
3,026,960
-178,720
3,029,390
3,125,540
3,187,294
212,091
3,387,946
3,314,468
3,275,269
488,895
3,000,321
3,122,211
3,232,403
3,415,380
3,324,836
3,395,723
3,407,681
3,263,903
3,571,000
3,955,000
4,022,000
20,031,000

20,031,000

4,022,000

3,955,000

3,571,000

3,263,903

3,407,681

3,395,723

3,324,836

3,415,380

3,232,403

3,122,211

3,000,321

488,895

3,275,269

3,314,468

3,387,946

212,091

3,187,294

3,125,540

3,029,390

-178,720

3,026,960

3,027,693

3,137,491

118,044

3,042,596

2,874,418

2,822,586

-114,541

2,319,229

2,294,243

2,262,962

-16,502

2,010,793

1,745,600

1,639,877

128,856

1,631,178

1,597,739

1,420,785

74,964

1,319,493

1,258,000

1,212,267

1,154,274

272,016

284,763

237,791

133,866

223,815

254,860

231,512

132,452

255,274

253,723

214,254

256,500

259,898

258,974

246,981

238,509

314,550

354,830

12,050,000

11,288,000

11,289,000

11,290,000

64,271

63,606

10,308,000

9,772,000

9,312,000

71,139

8,275,000

6,325,000

6,027,000

5,677,000

5,230,000

4,579,000

45,707

3,875,000

200,000

5,658

45,960

14,666

Short-term Debt

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
200,000
0
200,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
125,000
125,000
100,000
100,000
100,000
100,000
0
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
339,077
530,434
457,431
397,830
398,100
756,650
734,961
686,452
826,242
816,132
755,294
572,289
554,756
455,682
488,612
491,006
490,720
484,287
500,587
335,587
210,687
155,687
155,688
155,687
0
3,479,980
0
0
0
0
0
0
0
0

3,479,980

155,687

155,688

155,687

210,687

335,587

500,587

484,287

490,720

491,006

488,612

455,682

554,756

572,289

755,294

816,132

826,242

686,452

734,961

756,650

398,100

397,830

457,431

530,434

339,077

100,000

125,000

100,000

200,000

Short Long Term Debt

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
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
1,007,999
0
0
0
941,670
0
0
0
1,715,584
723,571
420,155
1,655,584
3,251,462
734,961
3,046,874
3,102,211
3,025,621
2,855,371
2,542,448
0
0
0
491,006
490,720
484,287
500,587
335,587
210,687
155,687
155,688
155,687
0
0
0
0
0
0
0
0
0
0

155,687

155,688

155,687

210,687

335,587

500,587

484,287

490,720

491,006

2,542,448

2,855,371

3,025,621

3,102,211

3,046,874

734,961

3,251,462

1,655,584

420,155

723,571

1,715,584

941,670

1,007,999

Accounts payable

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
14,666
16,441
749
256
0
5,792
46,673
50,037
47,029
41,774
38,147
63,257
45,960
70,826
5,658
110,931
117,916
45,707
104,382
126,387
169,502
149,470
143,838
196,728
150,451
226,892
255,644
312,881
301,679
393,658
382,488
336,134
301,309
1,551,148
254,830
214,550
138,509
146,981
158,974
159,898
156,500
114,254
128,723
130,274
132,452
131,512
154,860
123,815
133,866
137,791
184,763
172,016
1,054,274
1,112,267
1,158,000
1,219,493
1,260,413
1,320,785
1,497,739
1,531,178
1,528,504
1,539,877
1,645,600
1,671,716
1,710,416
1,805,531
1,896,413
1,921,129
2,017,843
2,087,625
2,187,966
2,216,354
2,301,910
2,382,197
2,455,404
2,472,204
2,472,218
2,540,778
2,634,534
2,696,574
2,786,532
2,887,359
2,978,881
3,064,582
2,678,825
2,844,633
2,966,524
3,232,403
3,415,380
3,324,836
3,395,723
3,407,681
3,263,903
3,571,000
3,955,000
4,022,000
3,817,000

3,817,000

4,022,000

3,955,000

3,571,000

3,263,903

3,407,681

3,395,723

3,324,836

3,415,380

3,232,403

2,966,524

2,844,633

2,678,825

3,064,582

2,978,881

2,887,359

2,786,532

2,696,574

2,634,534

2,540,778

2,472,218

2,472,204

2,455,404

2,382,197

2,301,910

2,216,354

2,187,966

2,087,625

2,017,843

1,921,129

1,896,413

1,805,531

1,710,416

1,671,716

1,645,600

1,539,877

1,528,504

1,531,178

1,497,739

1,320,785

1,260,413

1,219,493

1,158,000

1,112,267

1,054,274

172,016

184,763

137,791

133,866

123,815

154,860

131,512

132,452

130,274

128,723

114,254

156,500

159,898

158,974

146,981

138,509

214,550

254,830

1,551,148

301,309

336,134

382,488

393,658

301,679

312,881

255,644

226,892

150,451

196,728

143,838

149,470

169,502

126,387

104,382

45,707

117,916

110,931

5,658

70,826

45,960

63,257

38,147

41,774

47,029

50,037

46,673

5,792

256

749

16,441

14,666

Other Current Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-14,666
0
0
0
0
0
0
0
0
0
0
0
45,960
74,924
5,658
-200,000
3,875,000
-200,000
4,579,000
5,230,000
5,677,000
6,027,000
6,325,000
8,275,000
8,708,000
9,312,000
9,772,000
10,308,000
10,422,000
0
0
0
0
12,050,000
-354,830
-314,550
-238,509
-246,981
-258,974
-259,898
-256,500
-214,254
-253,723
-255,274
-132,452
-231,512
-254,860
-223,815
-133,866
-237,791
-284,763
-272,016
-1,154,274
-1,212,267
-1,258,000
-1,319,493
-1,360,413
-1,420,785
-1,597,739
-1,631,178
-1,628,504
-1,639,877
-1,745,600
-2,010,793
-2,240,850
-2,262,962
-2,294,243
-2,319,229
-2,774,493
-2,822,586
-2,874,418
-3,042,596
-3,118,042
-3,137,491
-3,027,693
-3,026,960
-2,927,900
-3,029,390
-3,125,540
-3,187,294
-3,270,819
-3,387,946
-3,314,468
-3,275,269
-2,834,512
-3,000,321
-3,122,211
-3,232,403
-3,415,380
-3,324,836
1,258,265
1,891,827
1,646,170
-3,571,000
-3,955,000
-4,022,000
16,214,000

16,214,000

-4,022,000

-3,955,000

-3,571,000

1,646,170

1,891,827

1,258,265

-3,324,836

-3,415,380

-3,232,403

-3,122,211

-3,000,321

-2,834,512

-3,275,269

-3,314,468

-3,387,946

-3,270,819

-3,187,294

-3,125,540

-3,029,390

-2,927,900

-3,026,960

-3,027,693

-3,137,491

-3,118,042

-3,042,596

-2,874,418

-2,822,586

-2,774,493

-2,319,229

-2,294,243

-2,262,962

-2,240,850

-2,010,793

-1,745,600

-1,639,877

-1,628,504

-1,631,178

-1,597,739

-1,420,785

-1,360,413

-1,319,493

-1,258,000

-1,212,267

-1,154,274

-272,016

-284,763

-237,791

-133,866

-223,815

-254,860

-231,512

-132,452

-255,274

-253,723

-214,254

-256,500

-259,898

-258,974

-246,981

-238,509

-314,550

-354,830

12,050,000

10,422,000

10,308,000

9,772,000

9,312,000

8,708,000

8,275,000

6,325,000

6,027,000

5,677,000

5,230,000

4,579,000

-200,000

3,875,000

-200,000

5,658

74,924

45,960

-14,666

> Long-term Liabilities

0
0
0
0
80,273
0
0
0
180,216
0
0
0
359,828
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,534,124
0
2,631,006
0
3,874,592
4,453,966
4,878,629
5,530,074
5,976,848
6,326,813
6,625,252
8,575,222
8,936,770
9,611,586
10,071,933
10,607,627
10,658,242
11,178,523
11,589,701
11,589,207
11,588,456
12,349,931
-13,973
-297,292
-255,594
-261,333
-23,793
519,843
517,565
646,746
636,213
631,797
725,770
622,222
618,441
614,137
710,486
539,551
535,818
485,223
300,000
300,000
300,000
300,000
13,843,634
800,000
800,000
800,000
14,762,041
800,000
791,222
791,264
16,044,878
791,349
791,392
791,437
20,175,525
1,732,410
1,732,570
1,732,726
21,687,679
1,733,043
1,733,211
1,733,364
21,959,370
1,733,694
1,733,865
1,871,386
25,357,718
1,871,869
2,860,733
2,860,811
28,805,961
2,861,417
2,861,728
2,724,149
3,415,380
3,324,836
3,395,723
-1,891,827
-1,646,170
3,571,000
2,726,000
2,726,000
11,286,000

11,286,000

2,726,000

3,571,000

-1,646,170

-1,891,827

3,395,723

3,324,836

3,415,380

2,724,149

2,861,728

2,861,417

28,805,961

2,860,811

2,860,733

1,871,869

25,357,718

1,871,386

1,733,865

1,733,694

21,959,370

1,733,364

1,733,211

1,733,043

21,687,679

1,732,726

1,732,570

1,732,410

20,175,525

791,437

791,392

791,349

16,044,878

791,264

791,222

800,000

14,762,041

800,000

13,843,634

300,000

485,223

535,818

539,551

710,486

614,137

618,441

622,222

725,770

631,797

636,213

646,746

517,565

519,843

-23,793

-261,333

-255,594

-297,292

-13,973

12,349,931

11,588,456

11,589,207

11,589,701

11,178,523

10,658,242

10,607,627

10,071,933

9,611,586

8,936,770

8,575,222

6,625,252

6,326,813

5,976,848

5,530,074

4,878,629

4,453,966

3,874,592

2,631,006

1,534,124

359,828

180,216

80,273

Long term Debt Total

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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
300,000
300,000
300,000
300,000
0
0
0
0
300,000
300,000
300,000
300,000
800,000
800,000
800,000
800,000
800,000
800,000
791,222
791,264
791,306
791,349
791,392
791,437
1,732,258
1,732,410
1,732,570
1,732,726
1,732,884
1,733,043
1,733,211
1,733,364
1,733,528
1,733,694
1,733,865
1,871,386
1,871,626
1,871,869
2,860,733
2,860,811
2,861,113
2,861,417
2,861,728
2,724,149
2,724,394
2,724,642
2,724,896
2,725,153
2,725,410
2,726,000
2,726,000
0
0

2,726,000

2,725,410

2,725,153

2,724,896

2,724,642

2,724,394

2,724,149

2,861,728

2,861,417

2,861,113

2,860,811

2,860,733

1,871,869

1,871,626

1,871,386

1,733,865

1,733,694

1,733,528

1,733,364

1,733,211

1,733,043

1,732,884

1,732,726

1,732,570

1,732,410

1,732,258

791,437

791,392

791,349

791,306

791,264

791,222

800,000

300,000

Warrants

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
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
219,234
219,326
219,419
219,512
219,604
204,996
205,089
205,182
205,274
205,366
205,459
205,553
205,644
205,736
205,829
205,922
206,013
206,105
206,199
206,292
206,383
206,475
48,789
55,404
55,376
55,986
57,835
58,548
57,670
57,533
10,237
9,233
9,763
8,459
8,908
10,829
11,000
2,000
0
0

2,000

11,000

10,829

8,908

8,459

9,763

9,233

10,237

57,533

57,670

58,548

57,835

55,986

55,376

55,404

48,789

206,475

206,383

206,292

206,199

206,105

206,013

205,922

205,829

205,736

205,644

205,553

205,459

205,366

205,274

205,182

205,089

204,996

219,604

219,512

219,419

219,326

219,234

Other Liabilities

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
508,556
12,929
8,329
23,608
161,963
227,757
239,160
246,303
548,826
723,542
1,012,304
1,444,933
2,080,434
2,549,415
3,164,535
3,556,676
4,142,971
4,474,247
5,103,687
5,507,346
5,877,343
6,181,414
8,078,494
8,557,458
9,084,694
9,516,289
9,994,746
10,120,169
10,484,865
10,907,213
10,953,073
10,987,147
10,498,783
10,822,232
11,049,215
9,891,543
11,340,573
11,478,979
11,316,885
10,059,260
11,506,325
11,269,664
11,887,005
10,321,546
10,542,382
10,853,751
10,834,892
10,354,746
10,619,904
10,854,886
10,878,588
11,096,542
11,221,368
11,223,074
11,298,952
11,594,668
12,071,907
12,293,338
12,245,333
12,279,851
12,294,062
12,558,732
12,716,260
12,537,380
12,975,268
12,852,585
13,147,693
14,656,919
14,870,124
15,117,725
16,164,215
15,979,079
14,711,226
14,788,110
14,887,858
11,685,594
15,493,433
15,530,936
15,606,368
13,257,864
18,098,599
18,945,851
20,270,049
20,454,739
20,544,018
21,239,408
21,092,781
21,226,227
21,775,262
21,788,276
22,867,062
16,972,728
24,341,000
25,182,000
25,857,000
0

25,857,000

25,182,000

24,341,000

16,972,728

22,867,062

21,788,276

21,775,262

21,226,227

21,092,781

21,239,408

20,544,018

20,454,739

20,270,049

18,945,851

18,098,599

13,257,864

15,606,368

15,530,936

15,493,433

11,685,594

14,887,858

14,788,110

14,711,226

15,979,079

16,164,215

15,117,725

14,870,124

14,656,919

13,147,693

12,852,585

12,975,268

12,537,380

12,716,260

12,558,732

12,294,062

12,279,851

12,245,333

12,293,338

12,071,907

11,594,668

11,298,952

11,223,074

11,221,368

11,096,542

10,878,588

10,854,886

10,619,904

10,354,746

10,834,892

10,853,751

10,542,382

10,321,546

11,887,005

11,269,664

11,506,325

10,059,260

11,316,885

11,478,979

11,340,573

9,891,543

11,049,215

10,822,232

10,498,783

10,987,147

10,953,073

10,907,213

10,484,865

10,120,169

9,994,746

9,516,289

9,084,694

8,557,458

8,078,494

6,181,414

5,877,343

5,507,346

5,103,687

4,474,247

4,142,971

3,556,676

3,164,535

2,549,415

2,080,434

1,444,933

1,012,304

723,542

548,826

246,303

239,160

227,757

161,963

23,608

8,329

12,929

508,556

> Total Stockholder Equity

335,000
340,700
341,100
348,300
352,213
357,500
379,200
396,200
401,031
418,100
415,500
395,100
398,002
362,700
371,600
361,400
346,514
249,253
254,905
268,426
272,299
275,318
271,652
276,358
1,020,369
1,020,157
1,246,047
1,370,908
1,411,244
1,480,598
1,566,342
1,636,239
1,710,729
2,010,197
2,037,504
2,128,454
2,241,906
2,288,864
2,503,392
2,351,531
2,480,527
2,749,554
3,015,780
3,346,249
3,590,619
3,783,348
3,704,067
3,874,795
4,035,811
4,004,544
3,886,233
3,516,710
3,432,965
3,630,396
4,029,968
4,460,822
4,323,349
4,378,757
4,398,003
4,717,910
4,513,003
4,325,535
4,441,269
4,474,371
4,628,486
4,839,456
5,020,316
5,348,794
5,168,878
5,335,530
5,234,318
5,443,285
5,647,496
5,893,423
6,229,399
6,081,046
6,130,053
6,288,702
6,137,515
6,162,815
6,204,881
6,413,587
6,703,922
7,352,322
8,253,718
8,605,844
8,898,887
8,911,144
9,196,602
9,150,372
9,163,755
9,355,148
9,439,827
10,114,596
10,757,352
11,158,096
11,497,371
11,367,244
11,991,825
12,451,997
13,105,886
13,096,472
13,986,072
13,387,526
13,545,896
12,919,589
12,417,566
11,795,110
12,910,073
13,988,000
14,641,000
15,239,000
18,353,000

18,353,000

15,239,000

14,641,000

13,988,000

12,910,073

11,795,110

12,417,566

12,919,589

13,545,896

13,387,526

13,986,072

13,096,472

13,105,886

12,451,997

11,991,825

11,367,244

11,497,371

11,158,096

10,757,352

10,114,596

9,439,827

9,355,148

9,163,755

9,150,372

9,196,602

8,911,144

8,898,887

8,605,844

8,253,718

7,352,322

6,703,922

6,413,587

6,204,881

6,162,815

6,137,515

6,288,702

6,130,053

6,081,046

6,229,399

5,893,423

5,647,496

5,443,285

5,234,318

5,335,530

5,168,878

5,348,794

5,020,316

4,839,456

4,628,486

4,474,371

4,441,269

4,325,535

4,513,003

4,717,910

4,398,003

4,378,757

4,323,349

4,460,822

4,029,968

3,630,396

3,432,965

3,516,710

3,886,233

4,004,544

4,035,811

3,874,795

3,704,067

3,783,348

3,590,619

3,346,249

3,015,780

2,749,554

2,480,527

2,351,531

2,503,392

2,288,864

2,241,906

2,128,454

2,037,504

2,010,197

1,710,729

1,636,239

1,566,342

1,480,598

1,411,244

1,370,908

1,246,047

1,020,157

1,020,369

276,358

271,652

275,318

272,299

268,426

254,905

249,253

346,514

361,400

371,600

362,700

398,002

395,100

415,500

418,100

401,031

396,200

379,200

357,500

352,213

348,300

341,100

340,700

335,000

Common Stock

0
0
0
0
170
0
0
0
171
0
0
0
171
0
0
200
171
171
172
172
127
127
129
129
135
158
238
276
277
280
280
281
282
336
335
347
349
351
353
355
733
738
739
740
743
737
713
691
673
646
619
602
605
605
610
595
548
527
529
531
534
535
541
544
549
552
556
556
561
561
564
565
565
567
570
571
572
573
576
576
577
579
581
582
582
583
609
610
611
630
633
633
634
636
638
638
638
642
642
642
643
645
647
648
648
651
652
652
654
1,000
1,000
1,000
1,000

1,000

654

652

651

648

647

645

643

642

638

636

634

633

630

611

610

609

583

582

581

579

577

576

573

572

571

570

567

565

564

561

556

552

549

544

541

535

534

531

529

527

548

595

610

605

602

619

646

673

691

713

737

743

740

739

738

733

355

353

351

349

347

335

336

282

281

280

277

276

238

158

135

129

127

172

171

200

171

170

Retained Earnings

-100
1,800
2,800
3,700
5,131
5,300
5,700
8,900
7,170
8,700
11,900
5,300
10,261
-14,700
1,200
-2,600
-22,175
-16,367
-18,919
-16,660
-30,916
-30,916
-17,233
-16,341
-11,610
-7,644
11,582
3,861
47,372
99,858
161,642
244,229
327,963
415,418
519,700
537,729
644,862
760,754
886,746
800,455
901,348
1,030,971
1,168,819
1,354,629
1,593,907
1,794,569
1,993,963
2,193,708
2,428,117
2,617,539
2,809,821
2,836,211
2,693,239
2,894,577
3,046,706
3,321,113
3,605,809
3,816,342
4,053,332
4,194,902
4,422,553
4,441,848
4,533,729
4,696,256
4,833,067
4,954,450
5,167,069
5,351,241
5,354,361
5,605,353
5,776,808
5,886,149
6,042,154
6,219,170
6,421,701
6,644,892
6,854,571
7,132,423
7,242,728
7,317,277
7,370,371
7,519,685
7,725,255
7,972,643
7,996,701
8,238,296
8,412,114
8,359,354
8,562,889
8,849,959
9,083,202
9,300,208
9,426,299
9,864,424
10,322,975
10,705,025
11,021,006
11,132,268
11,420,686
11,829,322
12,362,463
12,790,216
13,454,036
13,842,787
14,455,868
14,641,484
15,035,644
15,042,561
15,892,065
16,597,000
17,258,000
17,971,000
20,295,000

20,295,000

17,971,000

17,258,000

16,597,000

15,892,065

15,042,561

15,035,644

14,641,484

14,455,868

13,842,787

13,454,036

12,790,216

12,362,463

11,829,322

11,420,686

11,132,268

11,021,006

10,705,025

10,322,975

9,864,424

9,426,299

9,300,208

9,083,202

8,849,959

8,562,889

8,359,354

8,412,114

8,238,296

7,996,701

7,972,643

7,725,255

7,519,685

7,370,371

7,317,277

7,242,728

7,132,423

6,854,571

6,644,892

6,421,701

6,219,170

6,042,154

5,886,149

5,776,808

5,605,353

5,354,361

5,351,241

5,167,069

4,954,450

4,833,067

4,696,256

4,533,729

4,441,848

4,422,553

4,194,902

4,053,332

3,816,342

3,605,809

3,321,113

3,046,706

2,894,577

2,693,239

2,836,211

2,809,821

2,617,539

2,428,117

2,193,708

1,993,963

1,794,569

1,593,907

1,354,629

1,168,819

1,030,971

901,348

800,455

886,746

760,754

644,862

537,729

519,700

415,418

327,963

244,229

161,642

99,858

47,372

3,861

11,582

-7,644

-11,610

-16,341

-17,233

-30,916

-16,660

-18,919

-16,367

-22,175

-2,600

1,200

-14,700

10,261

5,300

11,900

8,700

7,170

8,900

5,700

5,300

5,131

3,700

2,800

1,800

-100

Capital Surplus

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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
110,325
120,109
142,001
150,882
0
0
0
0
227,778
242,492
272,955
283,449
299,517
320,503
353,208
366,408
383,073
399,757
437,533
450,948
467,339
485,943
517,942
516,204
531,687
548,053
1,196,884
1,212,960
1,230,617
1,737,978
1,760,606
1,775,499
1,793,781
1,819,605
1,847,949
1,864,468
1,889,683
1,921,487
1,935,514
1,950,782
0
2,014,741
2,028,919
2,061,906
2,085,075
2,134,241
2,170,661
2,186,599
2,211,444
2,260,000
2,278,000
0
0

2,278,000

2,260,000

2,211,444

2,186,599

2,170,661

2,134,241

2,085,075

2,061,906

2,028,919

2,014,741

1,950,782

1,935,514

1,921,487

1,889,683

1,864,468

1,847,949

1,819,605

1,793,781

1,775,499

1,760,606

1,737,978

1,230,617

1,212,960

1,196,884

548,053

531,687

516,204

517,942

485,943

467,339

450,948

437,533

399,757

383,073

366,408

353,208

320,503

299,517

283,449

272,955

242,492

227,778

150,882

142,001

120,109

110,325

Treasury Stock

-4,407,000

-4,403,000

-4,377,920

-4,372,875

-4,361,126

-4,037,342

-3,761,095

-3,396,999

-3,007,578

-2,694,957

-2,500,000

-2,495,106

-2,494,505

-2,489,097

-2,406,047

-2,403,749

-2,401,037

-2,388,392

-2,382,167

-2,280,151

-2,266,529

-2,084,186

-2,077,741

-2,053,644

-2,051,343

-2,039,270

-2,034,570

-2,031,859

-2,028,690

-2,019,249

-1,941,904

-1,940,795

-1,934,763

-1,727,074

-1,562,019

-1,358,011

-1,104,963

-1,096,826

-1,094,704

-1,093,833

-1,091,687

-1,067,439

-1,025,839

-852,742

-852,419

-845,708

-845,472

-844,887

-823,586

-787,362

-549,912

-291,533

-237,917

-48

-59,802

-59,597

Other Stockholders Equity

335,100
338,900
338,300
344,600
346,912
352,200
373,500
387,300
393,690
409,400
403,600
389,800
387,570
377,400
370,400
363,800
368,518
265,449
273,652
284,914
0
306,107
288,756
292,570
1,039,887
1,100,930
1,282,401
1,358,657
1,321,875
1,354,686
1,356,014
1,359,332
1,361,267
1,547,407
1,528,877
1,555,284
1,560,291
1,535,280
1,568,955
1,555,973
1,595,440
1,794,410
1,923,156
1,928,914
1,944,304
1,910,125
1,716,295
1,577,284
1,451,667
1,269,821
1,089,636
977,059
994,585
996,417
1,006,315
917,204
578,336
420,796
-154,089
-190,893
-439,587
-667,253
-681,585
-694,005
-684,053
-675,014
-665,406
-652,135
-798,061
-824,947
-818,732
-810,384
-795,187
-775,033
-751,755
-991,603
-1,178,946
-1,327,317
-1,497,230
-1,489,847
-1,474,565
-1,533,306
-1,510,748
-1,515,655
-1,502,883
-1,491,217
-854,459
-840,684
-847,124
-346,208
-505,923
-504,652
-588,386
-568,787
-553,088
-539,281
-516,364
-567,610
-558,991
-544,324
-526,115
-680,216
-978,659
-1,335,093
-1,676,020
-1,903,101
-2,190,465
-2,186,276
-2,166,476
-2,143,000
-2,129,000
-2,110,000
-2,097,000

-2,097,000

-2,110,000

-2,129,000

-2,143,000

-2,166,476

-2,186,276

-2,190,465

-1,903,101

-1,676,020

-1,335,093

-978,659

-680,216

-526,115

-544,324

-558,991

-567,610

-516,364

-539,281

-553,088

-568,787

-588,386

-504,652

-505,923

-346,208

-847,124

-840,684

-854,459

-1,491,217

-1,502,883

-1,515,655

-1,510,748

-1,533,306

-1,474,565

-1,489,847

-1,497,230

-1,327,317

-1,178,946

-991,603

-751,755

-775,033

-795,187

-810,384

-818,732

-824,947

-798,061

-652,135

-665,406

-675,014

-684,053

-694,005

-681,585

-667,253

-439,587

-190,893

-154,089

420,796

578,336

917,204

1,006,315

996,417

994,585

977,059

1,089,636

1,269,821

1,451,667

1,577,284

1,716,295

1,910,125

1,944,304

1,928,914

1,923,156

1,794,410

1,595,440

1,555,973

1,568,955

1,535,280

1,560,291

1,555,284

1,528,877

1,547,407

1,361,267

1,359,332

1,356,014

1,354,686

1,321,875

1,358,657

1,282,401

1,100,930

1,039,887

292,570

288,756

306,107

284,914

273,652

265,449

368,518

363,800

370,400

377,400

387,570

389,800

403,600

409,400

393,690

387,300

373,500

352,200

346,912

344,600

338,300

338,900

335,100

Balance Sheet

Currency in USD. All numbers in thousands.

	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
Accounts Payable	3,817,000	3,263,903	3,415,380	2,678,825	2,786,532	2,472,218	2,301,910	2,017,843	1,710,416	1,528,504	1,260,413	1,054,274	133,866	132,452	156,500	138,509	301,309	301,679	150,451	169,502	117,916	45,960	47,029	0	14,666	0	0	0	0
Accumulated Amortization	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
Accumulated Depreciation	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
Accumulated Other Comprehensive Income	-676,000	-1,646,170	-64,600	488,895	212,091	-178,720	118,044	-114,541	-16,502	128,856	74,964	287,017	153,923	204,503	138,526	-255,594	155,224	51,535	-16,994	36,031	20,829	41,332	-8,400	18,091	26,871	45,976	52,726	6,477	0
Additional Paid In Capital	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
Capital Lease Obligations	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
Capital Stock	831,000	830,654	830,648	780,643	780,638	780,634	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	2,211,444	2,085,075	0	1,889,683	1,793,781	1,230,617	531,687	467,339	383,073	299,517	227,778	0	110,325	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	1,498,000	855,118	858,668	906,448	726,230	646,556	606,199	842,942	553,326	485,702	434,057	371,041	351,699	362,740	334,571	251,739	239,915	317,017	222,477	113,052	56,899	91,717	9,970	11,481	9,457	12,037	9,014	1,466	0
Cash And Equivalents	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	8,026,000	21,869,569	22,395,663	21,549,195	19,416,227	16,640,345	16,447,048	15,399,565	12,218,988	12,691,880	11,981,024	11,245,899	1,255,918	1,348,241	997,220	731,325	2,442,674	2,166,091	1,797,743	248,205	286,247	572,258	486,790	108,868	82,242	120,846	98,181	106,352	0
Common Stock	1,000	654	648	643	638	634	611	582	577	572	565	561	549	534	548	605	673	743	733	349	282	277	135	127	171	171	171	170	0
Common Stock Shares Outstanding	378,800	377,610	400,346	410,259	411,609	412,906	417,785	374,152	378,116	404,767	407,332	414,777	414,869	472,695	557,344	583,101	663,862	686,221	672,389	652,671	610,000	536,960	153,020	118,783	153,781	159,464	153,772	153,750	150,000
Common Stock Total Equity	0	654	648	0	638	634	611	582	577	572	565	561	549	534	548	605	673	743	733	349	282	277	135	127	171	171	171	170	0
Current Deferred Revenue	0	-1,646,170	0	488,895	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
Deferred Long Term Asset Charges	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
Deferred Long Term Liab	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
Earning 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
Good Will	345,000	342,073	344,865	314,629	326,551	249,620	198,236	204,022	15,536	14,946	0	0	0	0	0	0	0	0	0	0	0	28,867	26,336	6,111	0	0	0	0	0
Intangible Assets	386,000	462,216	600,118	378,234	411,532	385,300	454,375	577,531	81,995	94,593	27,300	38,300	22,300	23,200	24,200	27,400	28,500	16,700	16,700	16,666	35,882	28,867	26,336	6,111	0	0	0	0	0
Inventory	-7,624,000	0	-8,055,785	-8,020,026	-6,277,505	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	49,672,000	47,990,507	45,100,945	43,282,297	37,885,361	32,218,329	32,051,658	29,372,109	23,177,270	22,009,543	19,566,094	17,816,762	17,141,769	15,770,792	15,375,790	14,616,545	15,624,267	14,312,467	11,488,436	8,218,754	5,585,321	2,991,328	1,313,701	298,926	864,359	757,830	581,247	432,486	351,000
Long Term Debt	2,726,000	2,725,410	2,724,394	2,861,113	1,871,626	1,733,528	1,732,884	1,732,258	791,306	800,000	800,000	300,000	508,883	300,000	617,565	400,000	300,000	300,000	300,000	300,000	200,000	0	0	0	0	0	0	0	0
Long Term Debt Total	0	2,725,410	2,724,394	2,861,113	1,871,626	1,733,528	1,732,884	1,732,258	791,306	800,000	800,000	300,000	0	300,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	32,487,000	26,613,334	25,750,261	28,864,657	24,520,183	21,859,925	21,953,145	19,844,134	15,930,147	15,495,991	13,783,438	12,870,272	0	11,798,440	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	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
Net Debt	1,384,000	1,870,292	1,865,726	2,110,352	1,629,683	1,542,654	1,942,817	1,645,966	768,414	414,298	465,943	28,959	358,787	363,030	282,994	148,261	60,085	-17,017	77,523	186,948	143,101	-91,717	-9,970	-11,481	-9,457	-12,037	-9,014	-1,466	0
Net Invested Capital	20,249,000	14,805,483	15,440,290	15,342,686	13,073,284	10,849,037	10,383,436	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	13,522,000	11,919,724	10,342,706	8,552,312	8,244,993	6,297,633	5,653,806	4,904,009	4,337,112	4,070,732	3,622,500	3,424,638	1,712,685	559,579	782,201	734,024	2,488,895	2,614,435	2,143,618	1,243,237	905,032	569,278	164,323	993	201,200	119,697	47,507	24,767	0
Net Tangible Assets	0	11,286,613	11,770,913	13,164,434	10,772,775	8,866,119	8,040,342	6,585,412	6,085,063	5,915,026	5,322,496	4,843,878	0	4,188,003	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-9,212,000	-3,245,228	29,322,989	27,266,995	24,390,401	20,010,078	-1,042,801	-1,319,546	-1,099,620	-345,576	552,011	-61,112	1,022,052	1,046,129	649,560	492,816	-10,349,049	-9,147,285	-7,803,636	-5,428,795	0	526,298	0	0	268,776	0	0	0	0
Non Current Assets Total	38,853,000	804,289	26,695,244	24,828,329	24,751,953	22,106,071	770,655	667,012	81,029	238,395	74,964	287,017	153,923	204,503	138,526	60,192	57,051	63,606	71,139	75,411	69,861	45,381	971,660	193,295	492,483	438,027	401,378	362,627	0
Non Current Liabilities Other	0	32,249,154	28,756,572	26,059,277	23,126,317	19,501,406	18,807,521	17,495,893	14,641,640	13,862,484	12,967,280	12,210,096	0	10,857,789	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	11,286,000	-1,646,170	2,724,394	2,861,113	1,871,626	1,733,528	1,732,884	1,732,258	791,306	800,000	800,000	300,000	610,486	625,770	517,565	-255,594	11,588,456	10,721,848	9,007,909	5,976,848	3,874,592	1,534,124	0	0	0	359,828	180,216	80,273	0
Non Currrent Assets Other	29,355,000	-25,090,247	-26,695,244	-24,828,329	-24,751,953	-22,106,071	-21,363,397	-18,957,086	-15,453,605	-15,377,374	-13,616,006	-12,755,993	-10,959,914	-10,431,584	-10,549,299	-8,700,148	-7,877,712	-7,864,819	-6,856,253	-5,680,274	-3,627,772	-1,862,645	-971,660	-193,295	-492,483	-438,027	-401,378	-362,627	0
Noncontrolling Interest In Consolidated Entity	0	0	0	823,007	762,777	791,560	843,411	851,854	738,831	769,081	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	51,227,000	47,167,543	-14,332,668	-11,647,539	-14,527,812	-12,825,720	29,205,762	27,250,150	21,955,011	20,488,220	17,578,706	16,436,583	15,731,928	14,287,708	14,331,204	13,825,028	14,628,265	12,974,146	10,512,933	7,895,138	5,229,213	2,373,689	-309,072	-4,230	88,434	79,260	34,181	-61,260	351,000
Other Current Assets	10,819,000	-33,770,618	8,055,785	8,020,026	6,277,505	716,766	1,275,070	1,273,170	778,105	-75,136	-4,894,322	-938,631	9,885,708	10,576,259	0	0	0	0	0	6,710,646	4,358,160	1,820,925	0	0	0	0	0	0	0
Other Current Liab	16,214,000	1,646,170	-3,415,380	-2,834,512	-3,270,819	-2,927,900	-3,118,042	-2,774,493	-2,240,850	-1,628,504	-1,360,413	-1,154,274	-233,866	-232,452	-256,500	-238,509	0	10,422,000	8,708,000	5,677,000	0	45,960	0	0	-14,666	0	0	0	0
Other Liab	0	16,972,728	21,226,227	20,454,739	13,257,864	15,142,118	14,779,453	13,043,039	11,712,294	1,065,954	985,806	612,340	1,052,618	931,038	971,633	1,451,432	2,128,814	1,865,206	1,404,941	395,395	201,711	137,151	246,303	23,608	0	0	0	0	0
Other Stockholder Equity	-2,097,000	-2,166,476	-1,676,020	-526,115	-516,364	-588,386	-847,124	-1,502,883	-1,474,565	-1,178,946	-795,187	-798,061	-684,053	-439,587	578,336	994,585	1,451,667	1,944,304	1,595,440	1,560,291	1,361,267	1,321,875	1,039,887	306,107	368,518	387,570	393,690	346,912	339,200
Preferred Stock Redeemable	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
Preferred Stock Total Equity	0	830,000	830,000	0	780,000	780,000	1,362,182	1,873,859	325,000	325,000	325,000	325,000	325,000	325,000	130	130	130	130	0	373	388	388	357	0	0	0	0	0	0
Property Plant And Equipment Gross	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
Property Plant And Equipment Net	125,000	123,083	26,759,844	24,339,434	24,539,862	22,284,791	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant Equipment	0	123,083	106,836	115,911	131,661	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	428	0	0	0	0	0
Retained Earnings	20,295,000	15,892,065	14,455,868	12,362,463	11,021,006	9,426,299	8,562,889	7,996,701	7,370,371	6,854,571	6,042,154	5,354,361	4,833,067	4,422,553	3,605,809	2,693,239	2,428,117	1,593,907	901,348	644,862	327,963	47,372	-11,610	-30,916	-22,175	10,261	7,170	5,131	1,000
Retained Earnings Total Equity	0	15,892,065	14,455,868	0	11,021,006	9,426,299	8,562,889	7,996,701	7,370,371	6,854,571	6,042,154	5,354,361	0	4,422,553	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	0	0	155,687	484,287	455,682	816,132	756,650	1,715,584	941,670	1,007,999	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	2,882,000	2,725,410	2,724,394	3,016,800	2,355,913	2,189,210	2,549,016	2,488,908	1,321,740	900,000	900,000	400,000	710,486	725,770	617,565	400,000	300,000	300,000	300,000	300,000	200,000	0	0	0	0	0	0	0	0
Short Term Debt	0	0	0	155,687	484,287	455,682	816,132	756,650	530,434	100,000	100,000	100,000	100,000	100,000	100,000	100,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Term Investments	2,564,000	21,014,451	21,536,995	20,642,747	18,689,997	15,993,789	15,840,849	14,556,623	11,665,662	12,206,178	11,546,967	10,874,858	904,219	985,501	662,649	479,586	2,202,759	1,849,074	1,575,266	135,153	229,348	480,541	476,820	97,387	72,785	108,809	89,167	104,886	0
Temporary Equity Redeemable Noncontrolling Interests	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	49,672,000	47,990,507	45,100,945	43,282,297	37,885,361	32,218,329	32,051,658	29,372,109	23,177,270	22,009,543	19,566,094	17,816,762	17,141,769	15,770,792	15,375,790	14,616,545	15,624,267	14,312,467	11,488,436	8,218,754	5,585,321	2,991,328	1,313,701	298,926	864,359	757,830	581,247	432,486	351,000
Total Current Assets	10,819,000	18,675	32,738,369	30,101,507	27,661,220	22,937,978	2,075,241	1,454,947	1,141,230	1,282,928	1,912,424	1,093,162	1,255,918	1,278,581	906,060	731,325	938,951	1,274,715	904,364	248,205	286,247	572,258	651,113	109,861	283,442	240,543	145,688	131,119	0
Total Current Liabilities	20,031,000	3,263,903	3,415,380	2,834,512	3,270,819	2,927,900	3,118,042	2,774,493	2,240,850	1,628,504	1,360,413	1,154,274	233,866	232,452	256,500	238,509	11,288,000	10,422,000	8,708,000	5,677,000	0	45,960	0	0	14,666	0	0	0	0
Total Liab	31,317,000	35,069,605	31,545,816	29,294,856	25,569,809	21,780,650	21,805,723	20,060,984	16,028,376	14,890,897	13,918,598	12,647,884	12,513,283	11,257,789	11,052,441	11,183,580	11,588,456	10,721,848	9,007,909	5,976,848	3,874,592	1,580,084	293,332	23,608	517,845	359,828	180,216	80,273	10,800
Total Permanent Equity	0	0	0	0	0	0	10,040,013	9,105,572	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	18,353,000	12,910,073	13,545,896	13,105,886	11,497,371	9,439,827	9,196,602	8,253,718	6,204,881	6,130,053	5,647,496	5,168,878	4,628,486	4,513,003	4,323,349	3,432,965	4,035,811	3,590,619	2,480,527	2,241,906	1,710,729	1,411,244	1,020,369	275,318	346,514	398,002	401,031	352,213	340,200
Treasury Stock	0	-4,377,920	-3,761,095	-2,500,000	-2,406,047	-2,382,167	-2,077,741	-2,034,570	-1,941,904	-1,562,019	-1,094,704	-1,025,839	-845,472	-549,912	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	10,829	9,233	58,548	55,404	206,292	205,922	205,553	205,182	219,512	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31	1995-09-30
Accounts Payable	3,817,000	4,022,000	3,955,000	3,571,000	3,263,903	3,407,681	3,395,723	3,324,836	3,415,380	3,232,403	2,966,524	2,844,633	2,678,825	3,064,582	2,978,881	2,887,359	2,786,532	2,696,574	2,634,534	2,540,778	2,472,218	2,472,204	2,455,404	2,382,197	2,301,910	2,216,354	2,187,966	2,087,625	2,017,843	1,921,129	1,896,413	1,805,531	1,710,416	1,671,716	1,645,600	1,539,877	1,528,504	1,531,178	1,497,739	1,320,785	1,260,413	1,219,493	1,158,000	1,112,267	1,054,274	172,016	184,763	137,791	133,866	123,815	154,860	131,512	132,452	130,274	128,723	114,254	156,500	159,898	158,974	146,981	138,509	214,550	254,830	1,551,148	301,309	336,134	382,488	393,658	301,679	312,881	255,644	226,892	150,451	196,728	143,838	149,470	169,502	126,387	104,382	45,707	117,916	110,931	5,658	70,826	45,960	63,257	38,147	41,774	47,029	50,037	46,673	5,792	0	256	749	16,441	14,666	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Amortization	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	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	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
Accumulated Depreciation	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	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	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
Accumulated Other Comprehensive Income	-676,000	-1,453,000	-1,319,000	-1,297,000	-1,646,170	-1,891,827	-1,258,265	-649,445	-64,600	49,184	230,048	205,827	488,895	386,357	349,488	21,944	212,091	211,714	206,827	38,323	-178,720	-221,041	-194,157	-134,009	118,044	129,682	78,441	-15,677	-114,541	119,752	163,834	101,629	-16,502	9,809	66,441	158,023	128,856	102,186	233,883	123,719	74,964	41,955	-49,322	229,563	287,017	324,132	193,097	234,468	153,923	146,576	263,584	225,405	204,503	388,370	173,231	140,962	138,526	221,780	-23,793	-261,333	-255,594	-297,292	-13,973	116,408	155,224	102,982	-7,034	77,787	51,535	61,836	-77,064	-76,645	-16,994	-5,625	46,965	-7,894	36,031	34,721	-11,792	46,652	20,829	32,009	48,018	25,386	41,332	7,748	-48,540	-73,644	-8,400	-1,204	-1,479	18,091	0	1,341	-9,801	-224	26,871	0	0	0	45,976	0	0	0	52,726	0	0	0	6,477	0	0	0	0
Additional Paid In Capital	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	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	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
Capital Lease Obligations	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	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	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
Capital Stock	831,000	831,000	831,000	831,000	830,654	830,652	830,652	830,651	830,648	830,648	1,280,647	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	2,278,000	2,260,000	2,211,444	2,186,599	2,170,661	2,134,241	2,085,075	2,061,906	2,028,919	2,014,741	0	1,950,782	1,935,514	1,921,487	1,889,683	1,864,468	1,847,949	1,819,605	1,793,781	1,775,499	1,760,606	1,737,978	1,230,617	1,212,960	1,196,884	548,053	531,687	516,204	517,942	485,943	467,339	450,948	437,533	399,757	383,073	366,408	353,208	320,503	299,517	283,449	272,955	242,492	227,778	0	0	0	0	150,882	142,001	120,109	110,325	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	1,498,000	859,000	904,000	803,000	855,118	813,583	813,548	812,917	858,668	1,137,721	1,234,059	941,951	906,448	976,398	854,259	882,284	726,230	880,099	605,316	633,100	646,556	651,037	526,628	680,891	606,199	862,361	740,320	703,754	842,942	578,816	516,591	557,961	553,326	649,779	525,074	471,012	485,702	663,726	926,443	1,569,605	434,057	436,141	375,119	356,767	371,041	422,440	355,392	422,806	351,699	369,895	411,001	406,877	362,740	365,997	341,469	338,708	334,571	385,149	336,693	244,037	251,739	239,097	246,544	258,680	239,915	250,804	245,143	225,249	317,017	188,139	366,373	247,906	222,477	161,759	162,017	86,723	113,052	92,763	188,121	78,558	56,899	55,888	62,013	88,882	91,717	57,764	37,641	18,977	9,970	14,671	12,123	11,481	11,481	15,756	17,374	11,447	9,457	13,000	11,000	4,000	12,037	5,000	4,000	4,000	9,014	4,000	4,000	11,000	1,466	0	5,000	0	0
Cash And Equivalents	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	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	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	8,026,000	25,026,000	24,040,000	23,907,000	21,869,569	21,685,036	21,399,140	21,796,966	22,395,663	22,766,689	23,250,003	20,934,617	21,549,195	21,468,383	20,339,856	19,850,289	19,416,227	18,653,096	17,979,952	17,012,521	16,640,345	16,388,595	16,286,897	16,540,871	16,447,048	16,778,443	15,786,704	15,681,899	15,399,565	13,311,740	12,911,401	12,333,977	12,218,988	12,525,101	12,030,027	12,581,892	12,691,880	12,727,842	13,226,853	13,377,783	11,981,024	11,570,056	11,474,772	11,532,697	11,245,899	1,745,455	1,824,878	1,893,047	1,255,918	1,169,557	1,115,496	1,546,970	1,348,241	1,346,688	1,105,408	1,186,460	906,060	1,702,802	1,554,025	1,544,566	1,461,519	239,097	1,810,338	2,118,833	2,442,674	2,487,013	2,474,587	2,182,029	2,166,091	1,919,756	2,102,270	2,183,609	1,797,743	646,916	338,285	291,940	248,205	231,023	272,152	437,403	286,247	453,529	306,963	264,442	572,258	287,472	213,361	345,714	486,790	100,599	77,721	108,868	0	62,792	56,180	152,213	82,242	13,000	11,000	4,000	120,846	5,000	4,000	4,000	98,181	4,000	4,000	11,000	106,352	0	5,000	0	0
Common Stock	1,000	1,000	1,000	1,000	654	652	652	651	648	648	647	645	643	642	642	642	638	638	638	636	634	633	633	630	611	610	609	583	582	582	581	579	577	576	576	573	572	571	570	567	565	565	564	561	561	556	556	552	549	544	541	535	534	531	529	527	548	595	610	605	605	602	619	646	673	691	713	737	743	740	739	738	733	355	353	351	349	347	335	336	282	281	280	280	277	276	238	158	135	129	129	127	127	172	172	171	171	200	0	0	171	0	0	0	171	0	0	0	170	0	0	0	0
Common Stock Shares Outstanding	379,800	379,400	378,400	377,600	365,903	373,727	377,953	384,194	388,869	397,903	406,486	409,223	410,282	409,195	408,120	414,034	414,125	413,180	410,899	408,971	410,112	411,721	413,111	417,894	418,736	404,656	417,734	417,143	376,282	374,795	373,097	373,489	375,936	375,035	377,656	385,353	392,566	407,630	410,670	409,688	409,404	408,103	407,547	406,228	414,813	416,091	414,635	413,445	413,445	411,423	413,927	421,382	421,382	460,638	479,388	499,624	499,624	562,804	563,637	563,040	563,040	565,478	591,733	612,175	612,175	651,410	677,294	689,766	689,766	686,555	685,399	682,698	682,698	312,757	669,713	666,122	666,122	661,927	661,500	622,306	622,306	609,972	609,559	602,456	602,456	193,475	529,898	467,973	467,973	116,081	115,596	115,132	111,624	111,646	111,434	139,665	139,665	153,792	153,772	153,921	153,918	160,605	160,000	159,147	159,147	156,316	153,207	153,225	153,225	162,000	150,000	144,000	142,605
Common Stock Total Equity	0	0	1,000	1,000	654	652	652	651	648	648	647	645	0	642	642	642	638	638	638	636	634	633	633	630	611	610	609	583	582	582	581	579	577	576	576	573	572	571	570	567	565	565	564	561	561	556	556	552	549	544	541	535	534	531	529	527	548	595	610	605	605	602	619	646	673	691	713	737	743	740	739	738	733	355	353	351	349	347	335	336	282	281	280	280	277	276	238	158	135	129	129	128	127	172	172	171	171	200	0	0	171	0	0	0	171	0	0	0	170	0	0	0	0
Current Deferred Revenue	0	0	0	0	-1,646,170	-1,891,827	-1,258,265	0	-64,600	0	0	0	488,895	0	0	0	212,091	0	0	0	-178,720	0	0	0	118,044	0	0	0	-114,541	0	0	0	-16,502	0	0	0	128,856	0	0	0	74,964	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	63,606	0	0	0	71,139	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
Deferred Long Term Asset Charges	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	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	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
Deferred Long Term Liab	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	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	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
Earning 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	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	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
Good Will	345,000	0	0	0	342,073	0	-1,069,845	0	344,865	0	0	0	314,629	0	0	0	326,551	0	0	0	249,620	0	0	0	198,236	0	0	204,022	204,022	0	0	0	15,536	0	0	0	14,946	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	0	0	0	0	0	35,882	28,867	28,867	28,558	28,823	28,540	26,336	26,587	26,626	6,111	6,111	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	386,000	739,000	775,000	785,000	462,216	806,655	1,937,859	926,427	600,118	963,322	667,153	679,509	378,234	713,777	688,490	705,450	411,532	624,500	641,010	659,215	385,300	566,662	593,008	626,004	454,375	684,405	712,975	577,531	577,531	90,941	88,327	92,670	81,995	103,620	102,518	106,745	94,593	111,528	118,721	120,875	27,319	0	0	0	38,259	0	0	0	22,300	0	0	0	23,200	0	0	0	24,200	0	0	0	27,400	0	0	0	28,500	0	0	0	16,700	0	0	0	16,700	0	16,666	16,666	16,666	31,423	31,423	35,882	35,882	35,882	35,882	28,867	28,867	28,558	28,823	28,540	26,336	0	0	0	6,111	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	-21,548,000	-10,751,000	-11,026,000	-9,778,000	0	-36,288,223	-9,573,587	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	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	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
Liabilities And Stockholders Equity	49,672,000	55,227,000	53,856,000	51,103,000	47,990,507	46,337,104	45,719,194	45,677,941	45,100,945	44,783,736	46,481,886	44,204,267	43,282,297	42,716,035	41,199,648	38,416,126	37,885,361	35,572,603	34,851,670	33,977,037	32,218,329	32,252,534	31,853,120	32,131,955	32,051,658	32,624,797	30,862,639	30,092,226	29,372,109	25,643,231	24,411,917	24,541,369	23,177,270	23,770,592	23,084,925	22,702,685	22,009,543	22,610,685	22,573,515	21,800,358	19,566,094	18,930,823	18,917,683	18,757,061	17,816,762	18,889,757	18,496,723	17,812,783	17,141,769	17,430,028	17,213,806	17,191,966	15,770,792	17,701,397	16,777,399	16,935,106	15,375,790	17,183,154	16,641,935	16,092,287	14,616,545	16,130,802	16,281,502	16,354,475	15,624,267	15,464,002	15,293,768	14,961,871	14,312,467	13,953,876	13,087,713	12,361,140	11,488,436	10,926,753	9,128,644	8,615,677	8,218,754	7,658,528	6,916,133	6,509,870	5,585,321	5,202,953	4,203,006	3,706,782	2,991,328	2,446,469	2,007,736	1,610,757	1,313,701	565,555	546,082	298,926	298,926	277,011	268,583	774,250	864,359	871,000	858,800	792,700	757,830	710,200	670,600	638,700	581,247	557,200	512,900	455,900	432,486	404,000	366,700	369,700	345,300
Long Term Debt	2,726,000	2,726,000	2,726,000	2,726,000	2,725,410	2,725,153	2,724,896	2,724,642	2,724,394	2,724,149	2,861,728	2,861,417	2,861,113	2,860,811	2,860,733	1,871,869	1,871,626	1,871,386	1,733,865	1,733,694	1,733,528	1,733,364	1,733,211	1,733,043	1,732,884	1,732,726	1,732,570	1,732,410	1,732,258	791,437	791,392	791,349	791,306	791,264	791,222	800,000	800,000	800,000	800,000	800,000	800,000	300,000	300,000	300,000	300,000	585,223	635,818	639,551	608,883	300,000	300,000	300,000	300,000	756,797	761,213	746,746	617,565	619,843	400,000	400,000	400,000	400,000	400,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	0	200,000	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 Debt Total	0	0	2,726,000	2,726,000	2,725,410	2,725,153	2,724,896	2,724,642	2,724,394	2,724,149	2,861,728	2,861,417	2,861,113	2,860,811	2,860,733	1,871,869	1,871,626	1,871,386	1,733,865	1,733,694	1,733,528	1,733,364	1,733,211	1,733,043	1,732,884	1,732,726	1,732,570	1,732,410	1,732,258	791,437	791,392	791,349	791,306	791,264	791,222	800,000	800,000	800,000	800,000	800,000	800,000	300,000	300,000	300,000	300,000	0	0	0	0	300,000	300,000	300,000	300,000	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	32,487,000	30,312,000	29,093,000	28,015,000	26,613,334	25,328,611	25,049,536	25,453,847	25,750,261	25,482,086	25,286,878	28,462,255	28,864,657	27,798,476	26,566,841	24,254,950	24,520,183	23,733,531	23,247,215	22,440,814	21,859,925	21,772,971	21,651,725	21,846,824	21,953,145	22,032,985	20,807,714	20,358,838	19,844,134	17,636,244	16,753,205	16,415,816	15,930,147	15,891,579	15,427,069	15,575,650	15,495,991	15,272,803	15,331,938	14,006,001	13,783,438	13,242,767	13,161,725	13,140,487	12,870,272	0	0	0	0	12,151,521	12,015,164	11,950,301	11,798,440	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	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	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	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
Net Debt	1,384,000	1,867,000	1,822,000	1,923,000	1,870,292	1,911,570	1,911,348	1,911,725	1,865,726	1,586,428	1,783,356	2,075,154	2,110,352	2,095,100	2,342,061	1,490,172	1,629,683	1,482,007	1,619,555	1,589,206	1,542,654	1,637,083	1,778,872	1,807,446	1,942,817	1,696,607	1,678,702	1,763,617	1,645,966	610,721	672,631	690,819	768,414	480,562	366,148	428,988	414,298	236,274	-26,443	-669,605	465,943	-36,141	24,881	43,233	28,959	162,783	280,426	216,745	358,787	344,242	307,440	315,345	363,030	390,800	419,744	408,038	282,994	234,694	63,307	155,963	148,261	160,903	153,456	41,320	60,085	49,196	54,857	74,751	-17,017	111,861	-66,373	52,094	77,523	138,241	137,983	213,277	186,948	207,237	111,879	121,442	143,101	144,112	-62,013	-88,882	-91,717	-57,764	-37,641	-18,977	-9,970	-14,671	-12,123	-11,481	-11,481	-15,756	-17,374	-11,447	-9,457	-13,000	-11,000	-4,000	-12,037	-5,000	-4,000	-4,000	-9,014	-4,000	-4,000	-11,000	-1,466	0	-5,000	0	0
Net Invested Capital	20,249,000	17,135,000	16,537,000	15,884,000	14,805,483	13,690,263	14,312,462	14,814,231	15,440,290	15,281,675	15,723,487	15,333,577	15,342,686	14,743,495	14,408,145	12,959,700	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	13,522,000	13,563,000	13,774,000	12,875,000	11,919,724	11,671,566	11,330,711	10,974,703	10,342,706	9,991,562	9,064,041	8,578,906	8,552,312	9,032,862	8,746,384	8,599,063	8,244,993	6,881,064	6,879,841	6,772,225	6,297,633	6,124,519	6,122,935	5,887,668	5,653,806	5,640,041	5,296,637	5,153,536	4,904,009	4,908,397	4,896,003	4,701,516	4,337,112	4,343,424	4,406,001	4,244,441	4,070,732	4,128,193	4,129,487	3,917,391	3,622,500	3,675,046	3,674,767	3,624,673	3,424,638	2,516,842	2,443,032	2,083,728	1,712,685	1,674,151	1,446,328	1,382,852	559,579	1,992,142	1,790,625	2,126,470	782,201	1,696,237	1,928,628	1,912,620	734,024	1,837,694	1,912,640	3,315,379	2,488,895	2,699,318	2,774,136	2,776,351	2,614,435	2,671,801	2,729,953	2,378,190	2,143,618	2,016,448	1,453,027	1,414,595	1,243,237	1,244,768	1,132,760	1,117,723	905,032	972,102	885,793	836,300	569,278	462,263	489,452	392,135	164,323	68,401	103,237	993	993	68	491	237,739	201,200	133,100	115,100	103,800	119,697	83,000	60,800	54,000	47,507	47,300	39,500	35,400	24,767	0	0	0	400
Net Tangible Assets	0	13,670,000	13,038,000	12,384,000	11,286,613	10,158,455	10,719,552	11,163,162	11,770,913	11,594,204	12,038,919	11,694,633	13,164,434	11,016,055	10,579,321	9,937,170	10,772,775	9,802,385	9,542,817	8,881,764	8,866,119	8,214,685	7,996,852	7,950,381	8,040,342	7,170,386	7,129,466	6,187,314	6,585,412	6,691,840	6,495,961	6,201,191	6,085,063	5,939,284	5,914,993	6,076,561	5,915,026	5,863,937	6,005,004	5,665,492	5,322,496	5,118,285	4,909,318	5,010,530	4,843,878	0	0	0	0	4,149,371	4,116,269	4,000,535	4,188,003	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-9,212,000	34,567,000	33,859,000	33,211,000	-3,245,228	2,926,139	29,334,128	29,446,833	29,322,989	3,783,003	3,227,039	1,829,436	4,407,061	1,965,537	2,021,410	594,073	1,470,685	-1,555,206	-1,698,263	-1,690,076	1,781,156	-1,414,124	-1,404,267	-1,489,211	1,957,197	-534,199	-1,219,742	-1,315,213	1,569,488	-556,005	-924,121	-1,081,157	1,157,732	-652,586	-344,799	-313,833	1,154,072	-218,793	305,762	1,633,100	1,837,460	110,023	208,151	87,914	-61,112	995,582	1,158,539	1,297,264	1,122,052	945,742	860,636	1,305,507	1,146,129	891,394	642,050	794,252	649,560	831,408	738,578	746,764	492,816	788,330	537,301	-11,160,035	-10,349,049	-9,722,293	-9,930,372	957,660	1,211,109	-9,232,674	-8,431,956	-8,011,341	833,225	-7,628,084	-5,986,715	-5,735,060	-5,428,795	-4,998,977	-4,306,848	391,696	-3,588,753	1,225,631	301,305	0	526,298	0	0	0	0	0	0	0	0	0	0	0	268,776	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Assets Total	38,853,000	31,051,000	29,868,000	28,800,000	804,289	806,655	25,917,550	26,380,274	26,695,244	1,012,506	897,201	885,336	692,863	1,100,134	1,037,978	727,394	738,083	836,214	847,837	697,538	634,920	345,621	398,851	491,995	652,611	814,087	791,416	734,638	781,553	210,693	252,161	194,299	97,531	113,429	168,959	264,768	109,539	213,714	352,604	244,594	17,653,670	41,955	-49,322	229,563	287,017	324,132	193,097	234,468	153,923	146,576	263,584	225,405	204,503	388,370	173,231	140,962	138,526	221,780	63,838	62,210	60,192	72,118	66,944	55,645	57,051	64,474	70,688	64,271	13,037,752	76,765	84,021	83,595	10,584,072	57,320	70,767	77,787	75,411	74,866	85,298	68,482	69,861	3,317,554	49,819	2,235,303	45,381	1,562,796	1,261,323	1,026,970	971,660	244,721	236,799	193,295	0	175,702	160,518	389,955	492,483	0	0	0	438,027	0	0	0	401,378	0	0	0	362,627	0	0	0	0
Non Current Liabilities Other	0	0	35,961,000	34,116,000	32,249,154	31,633,164	30,276,167	29,847,495	28,756,572	28,304,293	27,915,111	26,769,704	26,059,277	25,994,549	25,001,171	23,800,906	23,126,317	20,972,558	20,513,516	20,219,339	19,501,406	19,270,886	18,960,024	19,150,390	18,807,521	18,996,494	18,002,816	17,555,532	17,495,893	15,587,064	15,141,984	15,424,000	14,641,640	14,680,814	14,588,297	14,097,155	13,862,484	13,887,247	13,880,375	13,496,022	12,967,280	12,568,294	12,430,209	12,427,010	12,210,096	0	0	0	0	11,394,066	11,533,750	12,466,431	10,857,789	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	11,286,000	2,726,000	2,726,000	3,571,000	-1,646,170	-1,891,827	3,395,723	3,324,836	3,415,380	2,724,149	2,861,728	2,861,417	28,805,961	2,860,811	2,860,733	1,871,869	25,357,718	1,871,386	1,733,865	1,733,694	21,959,370	1,733,364	1,733,211	1,733,043	21,687,679	1,732,726	1,732,570	1,732,410	20,175,525	791,437	791,392	791,349	16,044,878	791,264	791,222	800,000	14,762,041	800,000	800,000	800,000	13,843,634	300,000	300,000	300,000	300,000	485,223	535,818	539,551	710,486	614,137	618,441	622,222	725,770	631,797	636,213	646,746	517,565	519,843	-23,793	-261,333	-255,594	-297,292	-13,973	12,349,931	11,588,456	11,589,207	11,589,701	11,178,523	10,658,242	10,607,627	10,071,933	9,611,586	8,936,770	8,575,222	6,625,252	6,326,813	5,976,848	5,530,074	4,878,629	4,453,966	3,874,592	0	2,631,006	0	1,534,124	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	359,828	0	0	0	180,216	0	0	0	80,273	0	0	0	0
Non Currrent Assets Other	29,355,000	-31,051,000	-29,868,000	1,297,000	-26,613,334	-23,436,784	1,258,265	-26,380,274	-26,695,244	-25,482,086	-25,286,878	-24,521,682	-24,135,466	-27,627,277	-25,990,987	-23,954,577	-24,013,870	-23,187,072	-22,677,643	-21,912,823	-21,471,151	-21,359,535	-21,300,462	-21,373,667	-21,363,397	-21,388,629	-20,071,309	-19,716,309	-18,957,086	-17,088,282	-16,329,562	-15,739,259	-15,453,605	-15,528,778	-14,969,043	-15,385,634	-15,377,374	-15,103,509	-15,184,466	-13,850,036	4,037,664	-13,136,204	-13,052,250	-12,991,149	-12,755,993	-11,919,159	-11,618,277	-11,356,840	-10,817,518	-10,986,252	-10,671,899	-10,698,889	-10,431,584	-11,327,558	-10,704,337	-10,651,962	-10,458,139	-11,061,468	-10,632,263	-10,235,777	-9,731,369	-8,891,704	-9,761,969	-8,261,762	-7,877,712	-8,694,072	-8,067,165	-7,799,182	5,172,933	-8,458,730	-7,684,492	-7,349,859	3,727,819	-5,639,110	-6,300,516	-5,937,783	-5,680,274	-5,234,212	-4,545,168	-4,257,935	-3,627,772	-3,317,554	-2,538,173	-2,235,303	-1,862,645	-1,562,796	-1,261,323	-1,026,970	-971,660	-244,721	-236,799	-193,295	0	-175,702	-160,518	-389,955	-492,483	0	0	0	-438,027	0	0	0	-401,378	0	0	0	-362,627	0	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	918,874	876,864	823,007	757,920	679,089	492,785	762,777	854,924	855,347	838,081	791,560	876,754	861,153	854,112	843,411	860,898	877,456	868,186	851,854	834,808	788,589	754,915	738,831	774,162	794,880	789,594	769,081	782,020	792,340	793,496	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	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 Assets	0	-14,413,000	-13,826,000	-14,479,000	47,167,543	39,196,629	-12,928,207	-13,474,002	-14,332,668	36,755,824	39,235,435	38,489,174	37,693,478	36,375,095	34,825,792	33,706,713	35,464,502	33,104,301	32,576,556	31,940,185	29,980,973	30,294,077	29,830,843	29,991,680	29,323,806	29,302,313	28,416,547	27,850,215	27,135,609	23,669,314	22,789,634	23,165,265	21,938,509	22,298,956	21,515,165	21,111,873	20,617,076	20,984,586	20,317,410	18,501,879	19,566,094	17,459,352	17,500,854	17,227,317	16,436,583	17,298,027	16,860,324	16,043,260	15,731,928	16,113,895	15,834,726	15,429,542	14,287,708	16,166,359	15,708,395	15,785,638	14,331,204	15,870,068	15,580,545	15,036,332	13,825,028	14,955,804	15,322,427	15,408,865	14,628,265	13,832,821	13,863,452	13,875,669	14,312,467	12,801,785	11,663,648	10,976,886	11,488,436	10,222,517	8,719,592	8,245,950	7,895,138	7,352,639	6,558,683	6,003,985	5,229,213	459,768	3,846,224	370,737	2,373,689	133,938	43,600	-154,062	-309,072	151,834	128,325	-4,230	176,890	38,449	51,394	-5,657	88,434	871,000	858,800	792,700	79,260	710,200	670,600	638,700	34,181	557,200	512,900	455,900	-61,260	404,000	366,700	369,700	345,300
Other Current Assets	10,819,000	10,751,000	11,026,000	9,778,000	-33,770,618	9,265,441	9,573,587	-26,402,624	5,966,188	-29,950,531	4,411,061	-27,486,303	4,604,101	5,069,946	4,778,877	-1,496,576	-778,160	530,845	-6,931,297	425,933	716,766	833,064	861,715	1,150,918	1,275,070	1,259,484	1,458,183	1,137,359	1,273,170	810,612	495,367	736,942	778,105	-34,246	163,565	-87,076	-75,136	-5,103,982	-4,878,342	-5,367,895	-4,894,322	-4,558,310	-4,774,393	-4,435,561	-938,631	10,324,884	0	0	9,885,708	10,105,765	10,399,673	9,895,899	10,576,259	9,742,304	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,320,666	6,892,476	6,710,646	6,151,314	5,479,798	4,918,862	4,358,160	3,741,440	2,974,368	0	1,820,925	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 Liab	16,214,000	-4,022,000	-3,955,000	-3,571,000	1,646,170	1,891,827	1,258,265	-3,324,836	-3,415,380	-3,232,403	-3,122,211	-3,000,321	-2,834,512	-3,275,269	-3,314,468	-3,387,946	-3,270,819	-3,187,294	-3,125,540	-3,029,390	-2,927,900	-3,026,960	-3,027,693	-3,137,491	-3,118,042	-3,042,596	-2,874,418	-2,822,586	-2,774,493	-2,319,229	-2,294,243	-2,262,962	-2,240,850	-2,010,793	-1,745,600	-1,639,877	-1,628,504	-1,631,178	-1,597,739	-1,420,785	-1,360,413	-1,319,493	-1,258,000	-1,212,267	-1,154,274	-272,016	-284,763	-237,791	-133,866	-223,815	-254,860	-231,512	-132,452	-255,274	-253,723	-214,254	-256,500	-259,898	-258,974	-246,981	-238,509	-314,550	-354,830	12,050,000	0	0	0	0	10,422,000	10,308,000	9,772,000	9,312,000	8,708,000	8,275,000	6,325,000	6,027,000	5,677,000	5,230,000	4,579,000	-200,000	3,875,000	-200,000	5,658	74,924	45,960	0	0	0	0	0	0	0	0	0	0	0	-14,666	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Liab	0	25,857,000	25,182,000	24,341,000	16,972,728	22,867,062	21,788,276	21,775,262	21,226,227	21,092,781	21,239,408	20,544,018	20,454,739	20,270,049	18,945,851	18,098,599	13,257,864	15,606,368	15,530,936	15,493,433	11,685,594	14,887,858	14,788,110	14,711,226	15,979,079	16,164,215	15,117,725	14,870,124	14,656,919	13,147,693	12,852,585	12,975,268	12,537,380	12,716,260	12,558,732	12,294,062	12,279,851	12,245,333	12,293,338	12,071,907	11,594,668	11,298,952	11,223,074	11,221,368	11,096,542	10,878,588	10,854,886	10,619,904	10,354,746	10,834,892	10,853,751	10,542,382	10,321,546	11,887,005	11,269,664	11,506,325	10,059,260	11,316,885	11,478,979	11,340,573	9,891,543	11,049,215	10,822,232	10,498,783	10,987,147	10,953,073	10,907,213	10,484,865	10,120,169	9,994,746	9,516,289	9,084,694	8,557,458	8,078,494	6,181,414	5,877,343	5,507,346	5,103,687	4,474,247	4,142,971	3,556,676	3,164,535	2,549,415	2,080,434	1,444,933	1,012,304	723,542	548,826	246,303	239,160	227,757	161,963	23,608	8,329	12,929	508,556	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Stockholder Equity	-2,097,000	-2,110,000	-2,129,000	-2,143,000	-2,166,476	-2,186,276	-2,190,465	-1,903,101	-1,676,020	-1,335,093	-978,659	-680,216	-526,115	-544,324	-558,991	-567,610	-516,364	-539,281	-553,088	-568,787	-588,386	-504,652	-505,923	-346,208	-847,124	-840,684	-854,459	-1,491,217	-1,502,883	-1,515,655	-1,510,748	-1,533,306	-1,474,565	-1,489,847	-1,497,230	-1,327,317	-1,178,946	-991,603	-751,755	-775,033	-795,187	-810,384	-818,732	-824,947	-798,061	-652,135	-665,406	-675,014	-684,053	-694,005	-681,585	-667,253	-439,587	-190,893	-154,089	420,796	578,336	917,204	1,006,315	996,417	994,585	977,059	1,089,636	1,269,821	1,451,667	1,577,284	1,716,295	1,910,125	1,944,304	1,928,914	1,923,156	1,794,410	1,595,440	1,555,973	1,568,955	1,535,280	1,560,291	1,555,284	1,528,877	1,547,407	1,361,267	1,359,332	1,356,014	1,354,686	1,321,875	1,358,657	1,282,401	1,100,930	1,039,887	292,570	288,756	306,107	0	284,914	273,652	265,449	368,518	363,800	370,400	377,400	387,570	389,800	403,600	409,400	393,690	387,300	373,500	352,200	346,912	344,600	338,300	338,900	335,100
Preferred Stock Redeemable	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	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	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
Preferred Stock Total Equity	0	0	830,000	830,000	830,000	830,000	830,000	830,000	830,000	830,000	1,280,000	780,000	0	780,000	780,000	780,000	780,000	780,000	780,000	780,000	780,000	780,000	780,000	780,000	1,362,182	1,262,182	1,262,182	1,873,859	1,873,859	775,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	325,000	130	130	130	130	130	130	130	130	130	130	130	130	130	130	130	130	80	0	373	373	373	373	373	384	384	388	388	388	388	388	366	366	357	357	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	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	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	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
Property Plant And Equipment Net	125,000	32,504,000	31,187,000	0	123,083	0	0	27,029,719	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	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	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
Property Plant Equipment	0	0	0	0	123,083	0	0	0	106,836	0	0	0	115,911	0	119,494	127,766	131,661	131,424	134,061	140,741	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	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	428	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	20,295,000	17,971,000	17,258,000	16,597,000	15,892,065	15,042,561	15,035,644	14,641,484	14,455,868	13,842,787	13,454,036	12,790,216	12,362,463	11,829,322	11,420,686	11,132,268	11,021,006	10,705,025	10,322,975	9,864,424	9,426,299	9,300,208	9,083,202	8,849,959	8,562,889	8,359,354	8,412,114	8,238,296	7,996,701	7,972,643	7,725,255	7,519,685	7,370,371	7,317,277	7,242,728	7,132,423	6,854,571	6,644,892	6,421,701	6,219,170	6,042,154	5,886,149	5,776,808	5,605,353	5,354,361	5,351,241	5,167,069	4,954,450	4,833,067	4,696,256	4,533,729	4,441,848	4,422,553	4,194,902	4,053,332	3,816,342	3,605,809	3,321,113	3,046,706	2,894,577	2,693,239	2,836,211	2,809,821	2,617,539	2,428,117	2,193,708	1,993,963	1,794,569	1,593,907	1,354,629	1,168,819	1,030,971	901,348	800,455	886,746	760,754	644,862	537,729	519,700	415,418	327,963	244,229	161,642	99,858	47,372	3,861	11,582	-7,644	-11,610	-16,341	-17,233	-30,916	-30,916	-16,660	-18,919	-16,367	-22,175	-2,600	1,200	-14,700	10,261	5,300	11,900	8,700	7,170	8,900	5,700	5,300	5,131	3,700	2,800	1,800	-100
Retained Earnings Total Equity	0	0	17,258,000	16,597,000	15,892,065	15,042,561	15,035,644	14,641,484	14,455,868	13,842,787	13,454,036	12,790,216	0	11,829,322	11,420,686	11,132,268	11,021,006	10,705,025	10,322,975	9,864,424	9,426,299	9,300,208	9,083,202	8,849,959	8,562,889	8,359,354	8,412,114	8,238,296	7,996,701	7,972,643	7,725,255	7,519,685	7,370,371	7,317,277	7,242,728	7,132,423	6,854,571	6,644,892	6,421,701	6,219,170	6,042,154	5,886,149	5,776,808	5,605,353	5,354,361	0	0	0	0	4,696,256	4,533,729	4,441,848	4,422,553	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	0	0	0	0	0	0	0	0	0	155,687	155,688	155,687	210,687	335,587	500,587	484,287	490,720	491,006	0	0	0	2,542,448	2,855,371	3,025,621	3,102,211	3,046,874	734,961	3,251,462	1,655,584	420,155	723,571	1,715,584	0	0	0	941,670	0	0	0	1,007,999	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	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
Short Long Term Debt Total	2,882,000	2,726,000	2,726,000	2,726,000	2,725,410	2,725,153	2,724,896	2,724,642	2,724,394	2,724,149	3,017,415	3,017,105	3,016,800	3,071,498	3,196,320	2,372,456	2,355,913	2,362,106	2,224,871	2,222,306	2,189,210	2,288,120	2,305,500	2,488,337	2,549,016	2,558,968	2,419,022	2,467,371	2,488,908	1,189,537	1,189,222	1,248,780	1,321,740	1,130,341	891,222	900,000	900,000	900,000	900,000	900,000	900,000	400,000	400,000	400,000	400,000	585,223	635,818	639,551	710,486	714,137	718,441	722,222	725,770	756,797	761,213	746,746	617,565	619,843	400,000	400,000	400,000	400,000	400,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	200,000	200,000	200,000	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
Short Term Debt	0	0	0	0	0	0	0	0	3,479,980	0	155,687	155,688	155,687	210,687	335,587	500,587	484,287	490,720	491,006	488,612	455,682	554,756	572,289	755,294	816,132	826,242	686,452	734,961	756,650	398,100	397,830	457,431	530,434	339,077	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	0	100,000	100,000	100,000	100,000	125,000	125,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	100,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	200,000	0	200,000	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
Short Term Investments	2,564,000	24,167,000	23,136,000	23,104,000	21,014,451	20,871,453	20,585,592	20,984,049	21,536,995	21,628,968	22,015,944	19,992,666	20,642,747	20,491,985	19,485,597	18,968,005	18,689,997	17,772,997	17,374,636	16,379,421	15,993,789	15,737,558	15,760,269	15,859,980	15,840,849	15,916,082	15,046,384	14,978,145	14,556,623	12,732,924	12,394,810	11,776,016	11,665,662	11,875,322	11,504,953	12,110,880	12,206,178	12,064,116	12,300,410	11,808,178	11,546,967	11,133,915	11,099,653	11,175,930	10,874,858	1,323,015	1,469,486	1,470,241	904,219	799,662	704,495	1,140,093	985,501	980,691	763,939	847,752	571,489	1,317,653	1,217,332	1,300,529	1,209,780	933,797	1,563,794	1,860,153	2,202,759	2,236,209	2,229,444	1,956,780	1,849,074	1,731,617	1,735,897	1,935,703	1,575,266	485,157	176,268	205,217	135,153	138,260	84,031	358,845	229,348	397,641	244,950	175,560	480,541	229,708	175,720	326,737	476,820	85,928	65,598	97,387	97,387	47,036	38,806	140,766	72,785	0	0	0	108,809	0	0	0	89,167	0	0	0	104,886	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	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	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	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	49,672,000	55,227,000	53,856,000	51,103,000	47,990,507	46,337,104	45,719,194	45,677,941	45,100,945	44,783,736	46,481,886	44,204,267	43,282,297	42,716,035	41,199,648	38,416,126	37,885,361	35,572,603	34,851,670	33,977,037	32,218,329	32,252,534	31,853,120	32,131,955	32,051,658	32,624,797	30,862,639	30,092,226	29,372,109	25,643,231	24,411,917	24,541,369	23,177,270	23,770,592	23,084,925	22,702,685	22,009,543	22,610,685	22,573,515	21,800,358	19,566,094	18,930,823	18,917,683	18,757,061	17,816,762	18,889,757	18,496,723	17,812,783	17,141,769	17,430,028	17,213,806	17,191,966	15,770,792	17,701,397	16,777,399	16,935,106	15,375,790	17,183,154	16,641,935	16,092,287	14,616,545	16,130,802	16,281,502	16,354,475	15,624,267	15,464,002	15,293,768	14,961,871	14,312,467	13,953,876	13,087,713	12,361,140	11,488,436	10,926,753	9,128,644	8,615,677	8,218,754	7,658,528	6,916,133	6,509,870	5,585,321	5,202,953	4,203,006	3,706,782	2,991,328	2,446,469	2,007,736	1,610,757	1,313,701	565,555	546,082	298,926	298,926	277,011	268,583	774,250	864,359	871,000	858,800	792,700	757,830	710,200	670,600	638,700	581,247	557,200	512,900	455,900	432,486	404,000	366,700	369,700	345,300
Total Current Assets	10,819,000	38,589,000	37,814,000	36,782,000	18,675	6,333,820	32,729,851	32,771,669	32,738,369	7,015,406	6,349,250	4,829,757	4,895,956	5,240,806	5,335,878	3,982,019	1,682,776	1,632,088	1,427,277	1,339,314	1,602,436	1,612,836	1,623,426	1,648,280	2,075,241	2,508,397	1,654,676	1,507,373	1,454,947	1,763,224	1,370,122	1,181,805	1,141,230	1,358,207	1,400,801	1,326,044	1,282,928	1,412,385	1,903,501	3,053,885	1,912,424	1,429,516	1,466,151	1,300,181	1,093,162	1,267,598	1,443,302	1,535,055	1,255,918	1,169,557	1,115,496	1,537,019	1,278,581	1,146,668	895,773	1,008,506	906,060	1,091,306	997,552	993,745	731,325	1,102,880	892,131	889,965	938,951	1,566,707	1,359,628	1,021,931	1,274,715	1,075,326	1,340,044	1,300,659	904,364	646,916	338,285	291,940	248,205	231,023	272,152	437,403	286,247	1,425,631	306,963	1,100,742	572,258	749,735	702,813	737,849	651,113	169,000	180,958	109,861	0	62,860	56,671	389,952	283,442	146,100	126,100	107,800	240,543	88,000	64,800	58,000	145,688	51,300	43,500	46,400	131,119	0	5,000	0	400
Total Current Liabilities	20,031,000	4,022,000	3,955,000	3,571,000	3,263,903	3,407,681	3,395,723	3,324,836	3,415,380	3,232,403	3,122,211	3,000,321	488,895	3,275,269	3,314,468	3,387,946	212,091	3,187,294	3,125,540	3,029,390	-178,720	3,026,960	3,027,693	3,137,491	118,044	3,042,596	2,874,418	2,822,586	-114,541	2,319,229	2,294,243	2,262,962	-16,502	2,010,793	1,745,600	1,639,877	128,856	1,631,178	1,597,739	1,420,785	74,964	1,319,493	1,258,000	1,212,267	1,154,274	272,016	284,763	237,791	133,866	223,815	254,860	231,512	132,452	255,274	253,723	214,254	256,500	259,898	258,974	246,981	238,509	314,550	354,830	12,050,000	11,288,000	11,289,000	11,290,000	64,271	63,606	10,308,000	9,772,000	9,312,000	71,139	8,275,000	6,325,000	6,027,000	5,677,000	5,230,000	4,579,000	45,707	3,875,000	200,000	5,658	0	45,960	0	0	0	0	0	0	0	0	0	0	0	14,666	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liab	31,317,000	39,986,000	39,213,000	37,104,000	35,069,605	34,533,086	33,293,169	32,748,589	31,545,816	31,385,973	31,519,407	30,173,261	29,294,856	29,448,283	28,472,748	26,500,721	25,569,809	23,510,794	23,032,496	22,817,977	21,780,650	21,814,433	21,622,107	21,921,458	21,805,723	22,646,926	20,880,560	20,412,552	20,060,984	17,250,642	16,714,040	17,167,593	16,028,376	16,628,526	15,947,534	15,404,785	14,890,897	15,528,200	15,332,450	14,895,495	13,918,598	13,487,538	13,683,365	13,421,531	12,647,884	13,540,963	13,476,407	12,973,327	12,513,283	12,955,657	12,772,537	12,866,431	11,257,789	12,983,487	12,379,396	12,556,349	11,052,441	12,722,332	12,611,967	12,461,891	11,183,580	12,614,092	12,395,269	12,349,931	11,588,456	11,589,207	11,589,701	11,178,523	10,721,848	10,607,627	10,071,933	9,611,586	9,007,909	8,575,222	6,625,252	6,326,813	5,976,848	5,530,074	4,878,629	4,499,673	3,874,592	3,566,714	2,636,664	2,226,184	1,580,084	1,075,561	761,689	590,600	293,332	289,197	274,430	23,608	23,608	8,585	13,678	524,997	517,845	509,600	487,200	430,000	359,828	315,100	255,100	220,600	180,216	161,000	133,700	98,400	80,273	55,700	25,600	29,000	10,300
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,231,902	10,024,908	10,004,484	10,040,013	9,772,042	9,776,343	9,474,030	9,105,572	8,187,130	7,492,511	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	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	0	0
Total Stockholder Equity	18,353,000	15,239,000	14,641,000	13,988,000	12,910,073	11,795,110	12,417,566	12,919,589	13,545,896	13,387,526	13,986,072	13,096,472	13,105,886	12,451,997	11,991,825	11,367,244	11,497,371	11,158,096	10,757,352	10,114,596	9,439,827	9,355,148	9,163,755	9,150,372	9,196,602	8,911,144	8,898,887	8,605,844	8,253,718	7,352,322	6,703,922	6,413,587	6,204,881	6,162,815	6,137,515	6,288,702	6,130,053	6,081,046	6,229,399	5,893,423	5,647,496	5,443,285	5,234,318	5,335,530	5,168,878	5,348,794	5,020,316	4,839,456	4,628,486	4,474,371	4,441,269	4,325,535	4,513,003	4,717,910	4,398,003	4,378,757	4,323,349	4,460,822	4,029,968	3,630,396	3,432,965	3,516,710	3,886,233	4,004,544	4,035,811	3,874,795	3,704,067	3,783,348	3,590,619	3,346,249	3,015,780	2,749,554	2,480,527	2,351,531	2,503,392	2,288,864	2,241,906	2,128,454	2,037,504	2,010,197	1,710,729	1,636,239	1,566,342	1,480,598	1,411,244	1,370,908	1,246,047	1,020,157	1,020,369	276,358	271,652	275,318	272,299	268,426	254,905	249,253	346,514	361,400	371,600	362,700	398,002	395,100	415,500	418,100	401,031	396,200	379,200	357,500	352,213	348,300	341,100	340,700	335,000
Treasury Stock	0	0	-4,407,000	-4,403,000	-4,377,920	-4,372,875	-4,361,126	-4,037,342	-3,761,095	-3,396,999	-3,007,578	-2,694,957	-2,500,000	-2,495,106	-2,494,505	-2,489,097	-2,406,047	-2,403,749	-2,401,037	-2,388,392	-2,382,167	-2,280,151	-2,266,529	-2,084,186	-2,077,741	-2,053,644	-2,051,343	-2,039,270	-2,034,570	-2,031,859	-2,028,690	-2,019,249	-1,941,904	-1,940,795	-1,934,763	-1,727,074	-1,562,019	-1,358,011	-1,104,963	-1,096,826	-1,094,704	-1,093,833	-1,091,687	-1,067,439	-1,025,839	-852,742	-852,419	-845,708	-845,472	-844,887	-823,586	-787,362	-549,912	-291,533	-237,917	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	-48	0	-59,802	-59,802	-59,597	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	2,000	11,000	10,829	8,908	8,459	9,763	9,233	10,237	57,533	57,670	58,548	57,835	55,986	55,376	55,404	48,789	206,475	206,383	206,292	206,199	206,105	206,013	205,922	205,829	205,736	205,644	205,553	205,459	205,366	205,274	205,182	205,089	204,996	219,604	219,512	219,419	219,326	219,234	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	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 Flow

Currency in USD. All numbers in thousands.

	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
Begin Period Cash Flow	1,273,328	1,314,771	1,290,544	903,698	724,643	727,284	842,942	553,326	485,702	434,057	371,041	351,699	362,740	334,571	251,739	239,915	317,017	222,477	113,052	56,899	91,717	9,970	11,481	9,457	12,037	9,014	1,466	982	100
Capital Expenditures	52,000	51,672	41,394	39,872	37,837	29,809	22,841	15,303	15,736	19,883	17,499	18,532	18,987	11,664	19,483	9,501	27,996	13,240	13,668	15,455	31,489	17,710	6,311	0	338	252	910	2,859	100
Cash And Cash Equivalents Changes	0	7,446	58,274	364,557	161,314	16,492	-236,743	289,616	67,624	51,645	63,016	19,342	0	28,169	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	1,079,877	1,158,571	1,979,989	401,669	266,068	442,286	329,739	145,113	35,491	-8,658	393,558	0	209,236	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	224,672	-41,443	24,227	386,846	179,055	-2,641	-236,743	289,616	67,624	51,645	63,016	19,342	-11,041	28,169	82,832	11,824	-77,102	94,540	109,425	56,153	-34,818	81,747	-1,511	2,024	-2,580	3,023	7,638	484	335,500
Change In Working Capital	1,152,000	1,334,251	1,909,461	2,173,077	598,618	242,982	536,251	658,306	241,294	245,102	113,374	517,695	432,528	235,819	329,406	461,331	590,868	857,858	1,142,928	187,025	1,346,126	563,601	-15,767	13,855	76,852	107,613	78,195	11,209	6,000
Change Receivables	0	-1,109,229	-685,214	-318,643	-237,752	-211,296	-31,405	-71,613	-26,783	-217,035	-60,224	-120,380	0	83,380	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-981,000	-1,109,229	-685,214	-318,643	-237,752	-211,296	-31,405	-71,613	-26,783	-217,035	-60,224	-120,380	-7,226	83,380	44,438	8,031	32,047	-32,906	-157,154	-117,730	379,345	266,138	-4,954	8,602	-30,700	-41,100	-23,800	-23,700	0
Change To Inventory	2,931,000	0	2,434,986	2,415,660	695,290	320,659	652,997	702,285	281,499	474,574	70,085	519,674	357,571	134,377	0	0	21,478	221,739	0	0	-231,327	-390,745	-23,718	0	0	0	0	0	0
Change To Liabilities	0	1,363,603	936,039	511,731	434,701	188,210	125,370	400,180	122,964	426,646	182,256	200,884	5,515	-101,511	15,913	0	0	151,228	0	92,256	28,725	41,554	560	0	0	0	0	0	0
Change To Netincome	0	892,353	-721,710	-821,314	-325,563	482,849	-179,121	-85,840	230,030	-29,232	27,763	-145,856	0	-231,619	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	1,044,368	1,658,636	2,045,939	583,801	339,506	433,076	544,792	161,525	163,947	-31,817	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	95,000	106,200	82,955	69,031	82,104	105,670	125,778	19,343	22,926	22,926	0	0	0	0	0	0	-24,605	-17,259	-8,218	-14,575	-14,732	-49,480	0	0	0	0	0	0	0
Dividends Paid	40,000	40,736	48,280	41,612	41,612	41,645	46,041	28,070	21,938	21,938	21,938	28,381	25,844	25,844	25,844	25,844	25,844	17,353	0	0	200,000	254,270	740,737	0	0	0	0	0	0
End Period Cash Flow	1,498,000	1,273,328	1,314,771	1,290,544	903,698	724,643	606,199	842,942	553,326	485,702	434,057	371,041	351,699	362,740	334,571	251,739	239,915	317,017	222,477	113,052	56,899	91,717	9,970	11,481	9,457	12,037	9,104	1,466	335,600
Exchange Rate Changes	0	0	0	0	0	0	14,041	-21,154	-11,751	-20,007	-4,357	6,742	0	-4,365	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	5,697,000	3,763,555	3,386,161	2,846,633	2,010,622	1,529,513	1,089,776	1,381,341	982,170	1,017,247	833,369	903,071	847,125	790,410	973,164	1,129,597	1,408,460	1,595,716	1,438,353	1,770,982	1,581,055	651,342	-11,940	2,629	7,208	68,254	48,128	28,130	-200
Investments	-4,932,055	-3,102,055	-1,185,200	-2,941,157	30,053,777	33,327,660	36,806,913	35,532,810	-861,964	-1,248,432	-1,290,014	-406,384	0	27,761	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	6,660	492,239	1,876	6,203	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	0	659,793	200,083	218,259	253,415	1,386,741	431,362	431,362	494,228	-310,868	0	107,469	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	4,443,000	1,482,423	2,239,462	1,465,711	1,693,300	727,821	629,709	824,178	526,582	821,260	709,731	593,397	436,358	842,588	876,945	290,966	857,943	713,214	256,486	316,899	280,591	58,982	22,016	-8,741	-32,100	3,100	2,000	4,100	1,000
Other Cashflows From Financing Activities	-1,000	-85,827	982,428	1,003,486	6,800	-206,098	-82,425	138,944	809,166	1,009,191	1,094,929	316,237	-14,710	131,489	-310,214	-547,719	617,270	592,855	893,379	296,442	600,000	254,270	1,481,544	-1,242	117	-296	-506	-1,487	13,400
Other Cashflows From Investing Activities	0	882,523	-563,936	-62,197	348,486	-21,736	27,709	1,992,720	-36,175	-237,106	0	28,948	19,475	141,094	534,412	750,195	0	2,003	0	33,069	0	0	0	517	0	0	0	0	0
Other Non Cash Items	1,127,000	804,725	-891,417	-892,576	-391,980	427,073	-246,919	-142,421	173,934	-84,021	-21,474	-231,792	-33,760	-307,398	-240,746	356,524	-6,954	29,610	61,682	1,306,929	1,315	54,568	-13,543	-9,340	-26,879	-34,318	-28,955	17,577	-6,900
Sale Purchase Of Stock	-2,000	-585,823	-1,684,294	-83,472	-2,871	-382,925	-251,048	-77,674	-365,383	-454,137	-57,796	-497,056	-287,561	-761,874	-458,402	-513,130	-537,066	19,683	-1,447	-1,682	-906	-13,102	-10,971	3,430	-103	-86	-198	0	0
Stock Based Compensation	93,000	87,628	87,094	71,262	66,417	55,776	67,798	56,581	56,096	54,789	49,237	42,303	30,986	31,065	27,042	30,277	24,605	17,259	8,218	14,575	14,732	49,480	0	0	0	0	0	0	0
Total Cash From Financing Activities	-47,000	-705,726	-1,229,549	521,278	-80,662	-988,810	-3,405	1,635,669	-4,656	539,943	524,018	-513,035	-337,135	-785,637	-785,597	-1,164,812	67,858	320,163	913,628	282,291	205,184	241,168	740,309	3,540	170	334	24	212	335,500
Total Cash From Operating Activities	5,749,000	3,815,227	3,427,555	2,886,505	2,048,459	1,559,322	1,112,617	1,396,644	997,906	1,037,130	850,868	921,603	866,112	802,074	992,647	1,139,098	1,436,456	1,608,956	1,452,021	1,786,437	1,612,544	669,052	-5,629	2,629	7,546	68,506	49,038	30,989	-100
Total Cashflows From Investing Activities	0	-3,102,055	-2,139,732	-3,043,226	-1,806,483	-554,020	-1,359,996	-2,721,543	-913,875	-1,505,421	-1,307,513	-395,968	0	16,097	0	58,387	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31	1995-09-30
Begin Period Cash Flow	1,355,000	1,353,000	1,215,000	1,273,000	1,258,324	1,228,231	1,316,118	1,314,771	1,548,909	1,818,463	1,367,514	1,290,544	1,186,973	1,064,683	1,070,437	903,698	962,475	683,075	710,216	724,643	709,819	583,109	732,256	727,284	862,361	740,320	703,754	842,942	578,816	516,591	557,961	553,326	649,779	525,074	471,012	485,702	663,726	926,443	1,569,605	434,057	436,141	375,119	356,767	371,041	422,440	355,392	422,806	351,699	369,895	411,001	406,877	362,740	365,997	341,469	338,708	334,571	385,149	336,693	244,037	251,739	239,097	246,544	258,680	239,915	250,804	245,143	225,249	317,017	188,139	366,373	247,906	222,477	161,759	162,017	86,723	113,052	92,763	188,121	78,558	56,899	55,888	62,013	88,882	91,717	57,764	37,641	18,977	9,970	14,671	12,123	20,290	15,756	15,756	17,374	11,447	9,457	12,800	11,300	4,000	12,000	4,700	4,000	4,000	9,000	4,100	4,200	10,600	1,500	0	5,100	1,200	1,000	0
Capital Expenditures	15,000	11,000	15,000	11,000	13,289	14,553	12,060	11,770	6,987	10,822	11,095	12,490	13,155	9,030	9,217	8,470	10,202	11,276	6,936	9,423	10,759	5,808	9,002	4,240	5,979	5,759	5,909	5,194	3,738	3,281	4,332	3,952	4,835	4,505	10,268	32,897	5,308	4,215	4,978	5,382	6,546	3,861	3,350	3,742	4,638	3,686	3,710	6,498	3,461	3,178	4,266	8,082	1,553	2,251	6,057	1,803	3,897	4,067	3,872	7,647	2,745	1,772	1,939	3,045	15,391	3,607	4,860	4,138	4,208	353	4,077	4,602	3,120	2,960	4,568	3,020	1,646	2,931	4,764	6,114	11,559	7,128	7,232	5,570	12,488	3,149	1,321	752	5,399	279	611	22	0	0	0	0	38	0	100	200	52	0	100	100	410	200	200	100	2,159	600	0	100	0
Cash And Cash Equivalents Changes	0	0	131,000	-63,000	-15,673	66,869	-49,021	5,271	-234,114	-248,921	458,255	83,054	75,435	106,395	-14,735	197,462	-84,853	289,672	-25,629	-17,876	22,332	127,904	-137,105	3,361	-256,162	122,041	36,566	-139,188	264,126	62,225	-41,370	4,635	-96,453	124,705	54,062	-14,690	-178,024	-262,717	-643,162	1,135,548	-2,084	61,022	18,352	-14,274	0	0	0	0	0	-41,106	4,124	44,137	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	365,000	299,000	33,459	772,483	108,937	164,998	285,685	370,581	165,427	336,878	416,492	689,554	666,145	207,798	187,399	231,111	49,585	-66,426	237,047	199,813	-282,907	112,115	-158,028	499,939	141,061	-40,686	63,403	122,117	16,350	127,869	15,729	25,597	155,849	-52,062	25,758	-33,807	56,161	-12,621	47,664	31,024	-16,826	-70,520	0	0	0	0	0	83,355	171,343	177,985	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	143,000	2,000	138,000	-58,000	15,004	30,093	-87,887	1,347	-234,138	-269,554	450,949	76,970	103,571	122,290	-5,754	166,739	-58,777	279,400	-27,141	-14,427	14,824	126,710	-149,147	4,972	-256,162	122,041	36,566	-139,188	264,126	62,225	-41,370	4,635	-96,453	124,705	54,062	-14,690	-178,024	-262,717	-643,162	1,135,548	-2,084	61,022	18,352	-14,274	-51,399	67,048	-67,414	71,107	-18,196	-41,106	4,124	44,137	-3,257	24,528	2,761	4,137	-50,578	48,456	92,656	-7,702	12,642	-7,447	-12,136	18,765	-10,889	5,661	19,894	-91,768	128,878	-178,234	118,467	25,429	60,718	-258	75,294	-26,329	20,289	-95,358	109,563	21,659	1,011	-6,125	-26,869	-2,835	33,953	20,123	18,664	9,007	-4,701	2,548	-8,167	-4,275	-4,275	-1,618	5,927	1,990	-3,343	1,500	7,300	-8,000	7,337	700	0	-5,000	5,004	-100	-6,400	9,100	1,671	-5,000	5,100	200	200
Change In Working Capital	-416,000	1,006,000	298,000	265,000	129,761	1,071,879	128,819	3,792	279,860	738,576	362,156	528,869	366,915	867,937	676,275	261,950	185,213	455,317	90,653	-132,565	151,059	270,926	-288,625	109,622	-165,029	606,227	132,732	-37,679	158,976	316,665	17,862	164,803	17,609	244,851	131,290	-152,456	21,751	126,842	81,823	14,686	47,247	109,507	-15,226	-28,154	219,915	213,046	56,501	28,233	-49,126	130,297	138,005	213,352	5,927	195,323	11,147	23,422	-9,367	143,629	103,171	91,973	19,131	237,433	55,191	149,576	111,162	232,012	54,374	193,320	133,756	219,308	468,117	36,677	292,688	915,228	114,192	-179,180	-825,692	388,299	-195,549	819,967	-934,431	1,744,713	1,380,625	-844,781	373,217	168,069	22,663	-348	6,798	-15,536	-3,557	19,130	19,130	-1,645	-5,810	2,180	-169,048	52,900	80,600	112,400	-108,387	114,200	40,000	61,800	-42,905	44,400	33,600	43,100	-75,691	47,700	32,500	6,700	1,800
Change Receivables	0	0	-777,000	-871,000	-13,488	-9,951	-485,099	-600,691	161,884	-65,707	-173,141	-608,250	143,123	1,872	-45,181	-418,457	91,013	-26,715	-16,913	-285,137	-8,049	33,703	-3,178	-233,772	135,738	55,355	-46,148	-176,350	127,296	79,905	-61,466	-217,348	81,958	97,901	-14,395	-192,247	62,731	46,187	-83,337	-242,616	99,867	44,953	-6,230	-198,814	0	0	0	0	0	82,200	-77,556	-118,688	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	352,000	315,000	-777,000	-871,000	-13,488	-9,951	-485,099	-600,691	161,884	-65,707	-173,141	-608,250	143,123	1,872	-45,181	-418,457	91,013	-26,715	-16,913	-285,137	-8,049	33,703	-3,178	-233,772	135,738	55,355	-46,148	-176,350	127,296	79,905	-61,466	-217,348	81,958	97,901	-14,395	-192,247	62,731	46,187	-83,337	-242,616	99,867	44,953	-6,230	-198,814	84,474	68,881	-83,633	-190,102	106,818	82,200	-77,556	-118,688	157,034	63,197	-20,280	-116,571	99,023	41,108	-916	-94,777	18,896	115,653	19,771	-146,289	175,648	-181,007	219,511	-182,105	157,452	-32,860	6,804	-164,302	-135,958	68,714	32,001	-121,911	-118,424	143,061	-493,629	351,262	-655,085	1,261,157	226,342	-453,069	586,203	-30,889	-313,436	24,260	18,948	-17,931	-3,901	8,298	8,298	-332	7,816	-7,180	43,700	-18,200	-37,700	-18,500	-3,900	-29,800	-300	-7,100	1,000	-8,500	-5,200	-11,100	-8,000	-3,500	-8,000	-4,200	-400
Change To Inventory	406,000	653,000	803,000	0	0	0	640,480	692,462	149,499	713,225	578,775	993,487	356,018	597,874	638,044	823,724	43,824	384,296	139,950	127,220	106,035	187,848	-206,841	233,617	-106,605	465,749	123,311	170,542	83,209	222,779	112,739	283,558	-15,156	182,016	-11,259	125,898	8,676	148,127	84,938	232,833	-111,784	42,260	-16,865	156,474	85,783	97,260	137,688	198,943	-164,623	65,356	160,377	296,461	0	0	0	0	0	0	0	0	345,937	0	0	266	-5,158	-361,759	298,995	89,400	18,017	37,500	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	0	0	0
Change To Liabilities	0	107,000	836,000	820,000	109,790	253,024	358,864	513,507	-49,203	146,592	278,615	800,241	-192,700	176,511	55,311	472,609	-93,199	250,921	57,981	218,998	-77,939	37,410	-2,540	231,279	-142,739	50,933	37,819	179,357	-31,723	114,643	62,978	254,282	-80,078	121,353	-10,164	91,853	-66,738	114,462	108,999	269,923	-100,284	33,530	7,830	241,180	42,740	19,171	37,129	0	5,515	-3,524	60,483	156,380	0	0	0	0	15,913	17,380	17,465	11,278	0	0	0	19,677	0	31,496	79,254	91,498	151,228	162,430	105,193	76,441	0	27,226	0	0	92,256	8,471	0	0	28,725	21,740	0	0	41,554	15,620	0	0	560	3,569	205	1,103	0	0	0	1,377	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	217,000	34,000	-25,000	-36,761	264,665	342,035	324,804	-136,253	-163,674	-203,201	-256,134	-430,370	-363,464	-448,027	420,547	-14,551	-43,894	-119,166	-147,952	204,805	78,094	102,512	97,438	-37,116	-65,767	-16,706	-59,532	104,955	-124,370	-48,538	-17,887	144,712	113,529	42,629	-70,840	8,586	-3,510	-38,646	4,338	15,083	14,362	20,981	-22,663	0	0	0	0	0	-21,095	-30,645	-16,853	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	584,000	611,000	595,000	-130,468	828,806	255,054	90,976	167,179	657,691	256,682	577,084	276,822	763,013	718,499	287,605	154,629	306,598	126,395	-3,821	226,789	194,548	-247,580	165,749	450,815	487,355	171,059	-40,686	564,007	176,020	-11,599	127,869	161,525	0	0	0	163,947	0	0	0	-31,817	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	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
Depreciation	24,000	24,000	24,000	23,000	25,722	26,104	27,207	27,167	33,132	20,135	15,286	14,402	19,196	16,715	16,489	16,631	21,890	20,003	19,794	20,417	26,147	26,315	26,472	26,736	31,836	31,824	30,824	31,294	19,343	0	0	0	22,926	0	0	0	22,926	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	-4,306	-17,259	0	0	-3,299	-8,218	0	0	-2,095	0	0	0	-2,638	0	0	0	0	-49,480	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
Dividends Paid	10,000	10,000	10,000	10,000	10,184	10,184	10,184	10,184	10,184	17,291	10,402	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,402	10,403	10,437	11,105	12,369	11,349	11,218	11,617	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,484	5,485	10,951	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,461	6,270	4,622	2,667	0	0	0	0	0	0	0	0	0	0	0	0	37	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
End Period Cash Flow	1,498,000	1,355,000	1,353,000	1,215,000	1,273,328	1,258,324	1,228,231	1,316,118	1,314,771	1,548,909	1,818,463	1,367,514	1,290,544	1,186,973	1,064,683	1,070,437	903,698	962,475	683,075	710,216	724,643	709,819	583,109	732,256	606,199	862,361	740,320	703,754	842,942	578,816	516,591	557,961	553,326	649,779	525,074	471,012	485,702	663,726	926,443	1,569,605	434,057	436,141	375,119	356,767	371,041	422,440	355,392	422,806	351,699	369,895	411,001	406,877	362,740	365,997	341,469	338,708	334,571	385,149	336,693	244,037	251,739	239,097	246,544	258,680	239,915	250,804	245,143	225,249	317,017	188,139	366,373	247,906	222,477	161,759	162,017	86,723	113,052	92,763	188,121	78,558	56,899	55,888	62,013	88,882	91,717	57,764	37,641	18,977	9,970	14,671	12,123	11,481	11,481	15,756	17,374	11,447	9,457	12,800	11,300	4,000	12,037	4,700	4,000	4,000	9,104	4,100	4,200	10,600	1,671	-5,000	5,100	1,200	200
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	260	6,285	5,255	2,241	-10,822	-1,426	-11,238	2,332	-3,093	-8,619	6,429	-6,468	-10,441	-12,079	2,272	241	416	7,663	-6,000	-6,436	0	0	0	0	0	-8,643	997	5,406	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	1,650,000	1,959,000	1,136,000	952,000	968,221	1,365,196	890,345	539,793	793,017	1,004,157	838,632	750,355	541,900	1,000,840	701,909	601,984	495,118	819,339	470,190	225,975	427,576	618,293	87,704	395,940	25,504	521,308	340,040	202,924	355,767	492,634	214,349	318,591	185,492	417,875	289,470	52,564	232,163	342,381	249,916	192,787	217,274	234,833	179,345	201,917	185,014	330,997	248,737	138,323	106,180	306,746	217,701	216,498	142,960	265,173	199,457	182,820	180,086	286,052	219,870	287,156	163,356	380,417	254,324	331,500	317,479	422,976	269,012	398,993	354,762	426,479	395,899	418,576	343,407	416,941	353,185	324,820	432,302	506,153	441,638	390,889	454,896	471,108	360,151	294,900	314,330	225,380	64,098	47,534	-14,732	3,717	-1,209	569	569	2,492	2,262	-2,694	-24,692	6,800	11,200	13,900	20,954	13,100	21,700	12,500	17,928	13,200	11,000	6,000	4,330	16,800	6,500	500	-200
Investments	-1,532,000	-1,935,000	-1,005,000	-996,000	-995,334	-1,245,025	-546,331	-312,719	-545,212	241,676	-599,895	-234,109	-491,448	-648,527	-1,488,656	-312,526	6,043,154	7,677,977	8,888,176	7,444,470	8,489,743	7,970,347	7,186,303	9,681,267	8,727,784	8,179,803	9,422,408	10,476,918	7,692,255	28,199,895	-123,288	-236,052	-414,951	-450,206	-76,755	79,948	-187,485	-354,818	-905,863	199,734	-815,295	-176,099	-91,930	-206,690	0	0	0	0	0	-229,741	-126,859	-59,931	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	-5,000	5,000	18,000	0	9,523	1,202	13,195	0	6,137	96	496,014	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	0	0	0	0	0	0	0	0	0	0	0	-55,000	-125,125	823,618	16,300	-21,644	137,283	3,800	59,000	51,000	36,680	90,994	39,585	14,500	166,915	50,000	22,000	1,340,741	179,171	-59,000	-74,171	192,285	239,077	0	0	431,362	0	0	0	494,228	0	0	0	0	0	0	0	0	-4,225	-3,919	-3,695	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	2,334,000	723,000	669,000	717,000	862,788	18,258	403,945	197,432	623,675	421,415	718,664	475,708	599,314	488,682	466,389	-88,674	312,768	399,189	485,845	495,498	56,324	248,766	256,347	166,384	201,792	-45,217	199,099	274,035	95,574	303,620	249,357	175,627	28,006	64,000	125,819	308,757	207,134	223,264	211,717	179,145	161,490	114,825	176,940	256,476	19,217	189,656	220,268	164,256	143,272	168,988	98,342	25,756	234,112	148,031	243,451	216,994	291,157	280,868	158,590	146,330	-136,511	32,851	198,743	195,883	240,870	206,206	205,855	205,012	245,739	192,298	142,887	132,290	100,893	-86,291	125,992	115,892	107,133	18,029	104,282	87,455	83,734	82,587	61,784	52,486	43,511	-7,721	19,226	3,966	4,731	892	8,252	-14,256	-14,256	2,259	-2,552	5,808	-19,700	-3,700	15,900	-24,600	5,000	-6,600	3,100	1,600	-1,800	3,300	300	200	1,400	900	1,000	800	-100
Other Cashflows From Financing Activities	26,000	-2,000	-23,000	-2,000	-1,188	-2,632	-130,866	48,859	18,474	-50,217	515,275	13,075	17,045	44,151	986,370	-44,080	-7,804	-28,083	-40,045	82,732	1,550	69,819	69,627	-128,835	241,178	475,891	-35,924	-190,461	1,432,128	474,958	-14,238	67,736	130,759	184,492	33,542	90,654	-6,609	18,475	16,998	980,827	597,530	1,350	-40,282	42,103	18,835	-39,688	342,824	-5,734	-15,384	-79,558	-46,386	126,618	-132,282	-8,792	83,068	189,495	-402,877	272,395	-1,614	-178,449	-196,101	32,622	-210,045	-274,195	584,051	-194,329	-43,529	271,077	48,688	82,617	-3,642	185,548	-61,305	954,684	-286,104	-355,590	-416,837	-606,653	96,442	-556,341	-466,580	200,000	-394,941	-305,852	-206	175	179,154	-39,255	740,807	-1,188	1,789	-120	-120	-424	-720	22	117	-5,400	-4,100	-22,000	-430	-100	-21,800	-200	-206	-13,500	-17,600	3,200	-499	-100	-900	-200	-336,400
Other Cashflows From Investing Activities	0	-119,000	-5,000	66,000	1,094	-31,541	55,508	-1,960	-134,249	-241,258	10,501	-246,590	69,795	-140,671	-33,821	42,500	145,533	28,375	80,847	93,731	36,491	-8,266	-9,924	-40,037	94,447	13,917	33,395	-19,603	1,971,809	8,955	5,219	6,737	6,661	-43,654	3,250	-2,432	-1,528	0	18,701	-235,578	0	2,508	3,221	0	6,190	22,840	0	6,322	19,475	3,325	0	0	141,094	9,705	0	30,092	534,412	127,822	179,514	179,191	750,195	553,396	585,516	274,855	0	0	0	0	2,003	0	131,153	10,429	0	0	0	0	33,069	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	517	517	4,842	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-229,000	202,000	144,000	-83,000	-44,360	249,997	321,295	277,793	-151,454	-179,886	-263,131	-296,946	-445,199	-377,985	-461,390	391,998	-26,536	-56,789	-134,812	-173,843	194,835	67,707	81,757	82,774	-46,606	-81,336	-43,788	-75,189	94,685	-134,912	-70,042	-32,152	135,191	102,998	19,823	-84,078	-1,085	-13,001	-60,098	-9,837	6,151	5,523	1,058	-34,206	-57,124	-78,748	-40,841	-55,079	9,795	4,858	-28,257	-20,156	-101,141	-82,004	-61,364	-62,889	-104,006	-140,954	-47,968	52,182	277,507	105,113	2,329	-10,914	-20,970	-8,183	14,428	7,771	-35,218	16,090	-212,825	261,563	-31,330	-410,543	116,073	387,482	1,168,638	97,828	551,433	-510,970	1,330,706	-1,347,103	-1,069,558	1,087,270	-83,078	64,822	27,797	45,027	-15,190	11,605	-5,382	-5,774	-5,774	714	18,773	-23,053	167,921	-40,600	-88,200	-66,000	128,582	-93,100	-20,200	-49,600	64,945	-35,100	-22,100	-36,700	81,177	-30,600	-26,300	-6,700	-1,900
Sale Purchase Of Stock	-2,000	0	18,000	-18,000	2,863	-10,147	-320,688	-272,248	-362,097	-836,882	-306,049	-189,274	-7,986	13,875	-5,134	-80,013	0	557	3,800	-4,772	-98,233	-10,954	-181,348	-98,633	-13,564	-230,646	-2,848	-3,990	1,340,741	-2,298	-1,689	-75,256	4,164	-4,987	-198,979	-163,310	-202,218	-251,919	-500	425	425	-1,333	-17,296	-40,964	-172,056	-26	-325,000	0	-3	-20,833	-29,552	-237,173	-258,150	-53,398	-269,054	-181,272	-358,656	-96,814	308	-3,240	513,130	-123,377	-199,910	-189,843	-136,361	-145,732	-210,498	-44,475	19,683	0	0	8,690	-113	-554	-7	-773	-157	-646	-328	-551	-111	-149	-392	-254	-13,102	0	0	0	-10,923	0	-48	-48	0	-2	62,642	-59,210	-3	0	0	0	14	0	0	0	2	0	0	-200	0	0	0	0	0
Stock Based Compensation	20,000	15,000	16,000	41,000	7,599	13,511	21,139	45,379	14,791	14,739	16,752	40,812	14,829	14,521	13,363	28,549	11,985	12,895	15,646	25,891	9,970	10,387	20,755	14,664	9,490	15,569	27,082	15,657	10,270	10,542	21,504	14,265	9,521	10,531	22,806	13,238	9,671	9,491	21,452	14,175	8,932	8,839	19,923	11,543	7,644	10,729	16,519	7,411	5,700	5,781	13,877	5,628	5,615	6,074	12,280	7,096	6,199	6,576	9,949	4,318	5,974	6,792	0	4,600	0	0	0	4,306	17,259	0	0	3,299	8,218	0	0	2,095	0	0	0	2,638	0	0	0	0	49,480	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 Cash From Financing Activities	5,000	-7,000	-15,000	-30,000	-1,849	-21,761	-448,543	-233,573	-347,670	-904,294	209,017	-186,602	-44,812	-105,247	805,833	-134,496	-34,166	-37,411	-50,604	41,519	-252,066	-3,715	-394,124	-338,905	191,509	132,876	-100,121	-227,669	1,381,878	467,176	-126,412	-86,973	129,438	172,540	-168,332	-78,140	-210,733	-238,201	10,513	978,364	595,521	-5,375	-63,063	-3,065	-339,567	-94,721	2,531	-81,278	-22,116	-109,468	-87,715	-117,836	-423,272	-65,711	-222,690	-73,964	-758,800	169,120	-7,767	-188,150	-192,065	-93,882	-410,906	-467,959	446,088	-345,310	-256,206	223,286	49,745	77,300	-1,120	194,238	-51,137	959,197	3,443	2,125	3,599	1,039	96,656	180,997	1,136	200,812	689	2,547	-12,429	74,480	179,141	-24	740,690	-260	-73	10	10	-426	63,166	-59,210	70	0	0	0	430	100	0	200	224	0	0	-200	499	100	900	200	336,800
Total Cash From Operating Activities	1,665,000	1,970,000	1,151,000	963,000	981,510	1,379,749	902,405	551,563	800,004	1,014,979	849,727	762,845	555,055	1,009,870	711,126	610,454	505,320	830,615	477,126	235,398	438,335	624,101	96,706	400,180	31,483	527,067	345,949	208,118	359,505	495,915	218,681	322,543	190,327	422,380	299,738	85,461	237,471	346,596	254,894	198,169	223,820	238,694	182,695	205,659	189,652	334,683	252,447	144,821	109,641	309,924	221,967	224,580	144,513	267,424	205,514	184,623	183,983	290,119	223,742	294,803	166,101	382,189	256,263	334,545	332,870	426,583	273,872	403,131	358,970	426,832	399,976	423,178	346,527	419,901	357,753	327,840	433,948	509,084	446,402	397,003	466,455	478,236	367,383	300,470	326,818	228,529	65,419	48,286	-9,333	3,996	-598	569	569	2,492	2,262	-2,694	-24,654	6,800	11,300	14,100	21,006	13,100	21,800	12,600	18,338	13,400	11,200	6,100	6,489	17,400	6,500	600	-200
Total Cashflows From Investing Activities	0	-1,935,000	-1,005,000	-996,000	-995,334	-1,291,119	-502,883	-312,719	-686,448	-359,606	-600,489	-493,189	-434,808	-798,228	-1,531,694	-278,496	-556,007	-503,532	-452,151	-294,793	-163,937	-492,482	160,313	-57,914	-479,414	-544,187	-214,517	-121,878	-1,466,435	-899,440	-122,401	-233,267	-413,125	-461,596	-83,773	44,619	-194,321	-359,033	-910,841	-41,226	-821,841	-179,960	-95,280	-210,432	0	0	0	3,381	0	-232,919	-131,125	-68,013	16,097	0	0	0	0	0	0	0	58,387	1,431	294,529	152,040	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	1,055	8,551	0	709	4,393	63,894	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	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
Cost Of Revenue	1,396,000	1,234,375	1,081,550	944,207	883,101	783,479	810,229	633,025	657,261	606,224	500,730	465,353	431,480	432,795	392,138	395,802	388,138	332,302	297,047	275,863	185,943	76,699	52,310	125,972	0	0	0	0	0
Depreciation And Amortization	95,000	106,200	82,955	69,031	82,104	105,670	125,778	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Discontinued Operations	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
Ebit	89,000	1,687,160	2,253,114	1,473,780	1,765,035	992,406	864,277	790,364	624,224	902,976	769,565	617,912	458,703	880,463	922,093	328,343	895,637	761,983	307,939	361,097	307,316	59,538	24,144	-3,316	-51,993	3,326	1,701	4,449	1,100
Ebitda	184,000	1,793,360	2,336,069	1,542,811	1,847,139	1,098,076	990,055	790,364	624,224	902,976	769,565	617,912	458,703	880,463	922,093	328,343	895,637	761,983	307,939	361,097	307,316	59,538	24,144	-3,316	-51,993	3,326	1,701	4,449	1,100
Effect Of Accounting Charges	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
Extraordinary Items	0	0	0	0	0	0	-21,500	0	0	0	0	0	0	0	0	0	0	0	0	0	816	3,886	0	0	0	0	0	0	0
Gross Profit	11,960,000	8,365,482	7,843,557	7,350,741	5,900,818	4,690,850	4,559,078	3,818,707	3,319,992	3,446,510	2,977,391	2,914,945	2,693,847	2,811,272	3,109,484	2,571,011	3,064,307	3,120,376	2,870,482	2,828,187	2,157,794	645,070	76,454	122,516	348,768	247,133	120,972	50,171	5,000
Income Before Tax	3,107,000	1,488,493	2,103,351	1,577,549	1,849,110	841,772	757,277	855,552	567,194	844,247	742,505	589,387	427,012	850,456	897,653	304,505	873,544	739,893	285,435	343,127	306,500	54,540	24,144	-4,615	-52,231	4,462	1,893	4,610	0
Income Tax Expense	-873,000	79,961	128,582	111,838	155,810	113,951	127,568	31,374	40,612	22,987	32,774	-4,010	-9,346	7,868	20,708	13,539	15,601	26,679	28,949	26,228	26,725	556	2,128	5,425	-19,557	235	-338	337	100
Interest Expense	133,000	130,266	139,470	143,456	120,872	120,484	117,431	66,252	45,874	45,634	27,060	28,525	31,691	30,007	24,440	23,838	22,093	22,090	22,504	17,970	0	0	0	0	0	0	0	0	0
Interest Income	0	22,497	0	0	17,809	5,441	90,927	18,874	45,699	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-2,490	-5,490	-82,613	60,190	56,981	-30,150	10,431	131,440	-11,156	-13,095	988,593	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	4,443,000	1,476,000	2,157,000	1,405,521	1,636,319	757,971	619,278	692,738	537,738	834,355	709,731	593,397	436,358	842,588	876,945	290,966	857,943	713,214	256,486	316,899	280,591	58,982	22,016	-8,741	-32,436	3,091	2,039	4,112	1,000
Net Income Applicable To Common Shares	0	1,436,197	2,093,405	1,363,909	1,594,707	713,616	566,502	664,668	515,800	812,417	687,793	557,706	410,514	816,744	851,101	265,122	832,099	692,559	256,486	316,899	279,775	55,096	22,016	0	0	0	0	0	0
Net Income From Continuing Ops	2,971,423	1,482,423	2,239,462	1,465,711	1,693,300	727,821	629,709	824,178	526,582	821,260	709,731	593,397	0	842,588	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-130,266	-130,266	-139,470	-143,456	-120,872	-120,484	-117,431	-66,252	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	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
Non Recurring	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
Operating Income	184,000	1,687,160	2,253,114	1,473,780	1,765,035	992,406	864,277	790,364	624,224	902,976	769,565	617,912	458,703	880,463	922,093	328,343	895,637	761,983	307,939	361,097	307,316	59,538	24,144	-3,316	-51,993	3,326	1,701	4,449	1,100
Other Items	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 Operating Expenses	10,056,000	8,111,364	6,821,756	6,717,399	4,934,809	4,632,557	4,612,030	3,596,180	3,410,059	3,208,487	2,735,616	2,790,911	2,698,315	2,393,611	2,603,969	2,662,308	2,578,901	2,712,785	2,882,094	2,760,923	2,037,237	667,229	52,310	127,131	400,999	242,671	119,079	45,561	3,900
Preferred Stock And Other Adjustments	0	40,736	63,444	41,612	41,612	44,355	52,776	28,070	21,938	21,938	21,938	35,691	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	97,200	106,200	82,955	69,031	82,104	105,670	125,778	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research 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
Selling And Marketing Expenses	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 Administrative	102,000	95,482	79,157	81,988	80,111	78,994	83,752	81,746	49,745	49,944	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Provision	263,961	79,961	128,582	111,838	155,810	113,951	127,568	31,374	40,612	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	3,810,000	1,128,175	-6,671,993	-6,821,168	-5,018,884	-4,481,923	-3,694,801	-3,028,343	-2,695,768	-2,543,534	-2,207,826	-2,297,033	-2,235,144	-1,930,809	-2,187,391	-2,242,668	-2,168,670	-2,358,393	-2,562,543	-2,467,090	-1,850,478	-585,532	-52,310	-125,832	-400,761	-243,807	-119,271	-45,722	-3,900
Total Other Income Expense Net	3,107,000	-198,667	-149,763	103,769	84,075	17,492	27,682	56,373	35,098	-110	7,053	-12,094	42,540	18,511	20,016	-351,427	16,584	10,245	10,367	14,226	24,829	16,383	15,034	2,191	-238	1,136	192	161	0
Total Revenue	13,356,000	9,599,857	8,925,107	8,294,948	6,783,919	5,474,329	5,369,307	4,451,732	3,977,253	4,052,734	3,478,121	3,380,298	3,125,327	3,244,067	3,501,622	2,966,813	3,452,445	3,452,678	3,167,529	3,104,050	2,343,737	721,769	76,454	122,516	348,768	247,133	120,972	50,171	5,000

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31	1997-12-31	1997-09-30	1997-06-30	1997-03-31	1996-12-31	1996-09-30	1996-06-30	1996-03-31	1995-09-30
Cost Of Revenue	0	334,000	337,000	342,000	1,208,271	300,851	304,599	317,110	-5,593,084	250,967	260,229	275,435	-5,139,310	232,401	225,738	251,175	-4,236,709	216,515	218,708	221,580	-3,307,369	187,413	202,653	201,751	-3,197,179	201,951	200,805	206,013	-2,808,725	155,557	159,590	161,652	-2,418,985	156,959	168,608	157,882	-2,397,913	149,480	156,350	145,799	-2,069,433	118,070	127,408	120,183	465,353	113,429	117,701	106,472	431,480	105,998	110,563	102,420	432,795	103,121	101,533	106,806	392,138	99,743	99,294	87,116	395,802	95,652	102,578	97,187	388,138	95,545	100,505	90,813	-2,217,615	82,791	84,367	82,977	-2,052,185	71,960	74,232	73,401	275,863	70,331	69,155	57,467	185,943	8,860	40,995	376,624	76,699	208,137	121,549	75,302	20,639	17,207	9,363	5,101	17,205	1,502	34,069	73,196	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation And Amortization	24,000	24,000	24,000	23,000	25,722	26,104	27,207	27,167	33,132	20,135	15,286	14,402	19,196	16,715	16,489	16,631	21,890	20,003	19,794	20,417	26,147	26,315	26,472	26,736	31,836	31,824	30,824	31,294	-3,611,026	0	0	0	-3,322,996	0	0	0	-3,123,852	0	0	0	-2,774,279	0	0	0	-2,886,807	0	0	0	-2,628,208	0	0	0	-2,386,151	0	0	0	-2,596,954	0	0	0	-2,656,023	0	0	0	-2,573,378	0	0	0	-2,707,262	0	0	0	-2,876,487	0	0	0	-2,755,303	0	0	0	-2,037,237	0	0	0	-662,231	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
Discontinued Operations	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	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	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
Ebit	148,000	794,000	729,000	811,000	952,307	65,064	459,462	240,127	689,919	457,255	762,365	515,362	616,022	484,089	356,087	204,617	384,919	461,897	542,706	523,479	201,280	290,494	297,658	202,974	301,949	4,043	248,085	310,200	3,691,280	316,851	263,488	191,937	3,408,852	73,704	132,599	321,435	3,357,274	229,710	219,006	182,883	2,960,596	122,221	182,011	261,329	2,900,091	195,097	221,035	166,158	2,774,590	166,721	96,611	25,385	2,624,218	151,231	244,871	223,747	2,895,321	283,073	167,408	155,820	2,527,976	31,002	203,996	203,839	2,818,727	208,319	211,892	213,507	2,957,076	194,669	157,219	143,714	2,995,338	-86,933	133,810	125,314	2,880,887	15,747	108,974	98,442	2,123,374	91,681	68,353	60,329	710,649	-7,329	14,258	4,191	-1,185	1,401	12,629	11,447	-26,977	2,585	1,380	18,397	-52,231	0	0	0	4,462	0	0	0	1,893	0	0	0	0	0	0	0	0
Ebitda	172,000	818,000	753,000	834,000	978,029	91,168	486,669	267,294	723,051	477,390	777,651	529,764	635,218	500,804	372,576	221,248	406,809	481,900	562,500	543,896	227,427	316,809	324,130	229,710	333,785	35,867	278,909	341,494	80,254	282,046	240,849	187,215	85,856	103,037	126,581	308,750	233,422	239,273	229,639	200,642	186,317	128,158	187,863	267,227	13,284	202,475	228,474	173,679	146,382	174,846	104,369	33,106	238,067	158,602	252,787	231,007	298,367	289,074	173,120	161,532	-128,047	37,243	209,784	209,363	245,349	213,843	217,415	219,030	249,814	200,030	162,870	149,269	118,851	-81,301	139,439	130,950	125,584	22,081	113,616	98,442	86,137	92,497	68,353	60,329	48,418	-7,329	14,258	4,191	-1,185	1,401	12,629	-26,861	0	3,129	1,989	18,427	-30,693	-6,500	23,800	-38,600	7,726	-10,100	4,200	1,600	-3,299	4,700	200	-3,400	1,412	900	1,100	700	-200
Effect Of Accounting Charges	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	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	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
Extraordinary Items	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	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	0	816	0	0	3,886	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
Gross Profit	3,873,000	2,958,000	2,751,000	2,760,000	1,742,039	2,194,768	1,939,957	1,942,000	7,842,101	1,780,917	2,169,806	1,938,736	2,224,947	1,909,149	2,092,005	1,359,533	1,664,109	1,482,139	1,522,944	1,457,924	1,383,481	1,211,227	1,253,390	1,034,414	1,361,899	1,218,485	1,134,483	1,045,671	1,009,982	1,022,661	1,047,487	894,803	3,319,992	792,429	815,294	985,074	1,048,597	894,116	867,776	790,616	907,958	696,851	727,252	780,399	415,189	774,411	756,456	687,848	316,194	719,035	666,689	672,652	392,718	694,231	674,782	738,081	534,072	876,482	749,450	663,327	139,104	651,147	733,337	752,006	470,060	771,618	766,805	768,961	902,761	767,558	774,852	757,372	818,297	727,033	722,450	680,156	532,432	725,280	684,653	688,869	536,955	638,040	497,043	435,903	228,962	200,808	135,807	79,601	18,110	18,608	23,191	-9,772	0	4,087	35,449	92,752	75,268	92,100	115,400	66,100	89,633	55,200	55,900	46,400	41,472	32,300	22,800	24,500	21,971	15,800	7,400	5,000	500
Income Before Tax	1,086,000	741,000	714,000	742,000	887,481	-5,149	421,628	184,533	617,440	301,433	745,367	439,111	633,373	512,389	492,516	-60,729	340,104	437,305	530,317	541,384	91,336	282,122	280,015	188,299	258,605	-37,028	233,268	302,432	83,276	316,851	263,488	191,937	39,456	73,704	132,599	321,435	212,648	229,710	219,006	182,883	176,944	122,221	182,011	261,329	7,097	195,097	221,035	166,158	138,295	166,721	96,611	25,385	230,607	151,231	244,871	223,747	291,352	283,073	167,408	155,820	-134,332	31,002	203,996	203,839	239,826	208,319	211,892	213,507	244,291	194,669	157,219	143,714	113,244	-86,933	133,810	125,314	119,964	15,747	108,974	98,442	86,137	91,681	68,353	60,329	43,420	-7,329	14,258	4,191	-1,185	1,401	12,629	-26,977	-26,977	2,585	1,380	18,397	-52,231	5,100	52,200	-35,400	4,462	-7,600	11,600	6,500	1,893	12,300	3,100	0	0	4,100	4,700	3,900	0
Income Tax Expense	-1,076,000	72,000	67,000	64,000	60,919	-14,900	22,323	11,619	34,406	4,137	51,179	38,860	34,059	23,707	26,127	27,945	27,336	38,116	44,472	45,886	35,012	33,356	23,668	21,915	56,813	8,189	34,169	28,397	-12,298	13,231	14,131	16,310	11,450	9,704	6,780	12,678	5,514	6,446	7,289	3,738	15,454	7,396	5,071	4,853	-12,120	5,441	767	1,902	-4,977	-2,267	-1,731	-371	-3,505	3,200	1,420	6,753	195	2,205	8,818	9,490	2,179	-1,849	5,253	7,956	-1,044	2,113	6,037	8,495	-1,448	2,371	14,332	11,424	12,351	-642	7,818	9,422	12,831	-2,282	4,692	10,987	2,403	9,910	6,569	7,843	4,907	392	-4,968	225	-5,916	509	4,229	-12,605	-12,605	870	4,541	12,619	-11,057	-2,800	7,900	-13,600	2,735	-3,500	1,000	4,900	-1,538	1,400	-100	-200	-1,412	3,200	100	-100	-100
Interest Expense	34,000	34,000	33,000	32,000	31,700	33,063	32,795	32,708	32,248	33,176	35,700	38,346	38,419	41,343	31,139	32,555	31,199	31,328	29,280	29,065	29,774	29,730	30,344	30,636	30,496	29,510	28,749	28,676	18,539	15,943	15,663	16,107	15,827	13,300	4,011	12,736	12,744	4,152	14,334	14,404	9,373	5,937	5,852	5,898	6,187	7,378	7,439	7,521	8,087	8,125	7,758	7,721	7,460	7,371	7,916	7,260	7,015	6,001	5,712	5,712	6,285	6,241	5,788	5,524	5,523	5,524	5,523	5,523	5,523	5,361	5,651	5,555	5,607	5,632	5,629	5,636	5,620	6,334	4,642	1,374	1,400	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
Interest Income	0	0	0	0	5,877	4,261	0	0	0	0	0	0	0	0	0	35,907	56,366	18,926	1,696	21,327	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	1,000	0	2,000	-2,000	-3,100	-1,157	399	-1,632	-410	-1,473	976,407	37,552	55,770	69,643	167,568	-232,791	-13,616	6,736	16,891	46,970	-80,170	21,358	12,701	15,961	-12,848	-11,561	13,932	20,908	21,561	50,748	38,302	20,829	-30,573	-16,033	10,029	25,421	-8,030	-5,411	3,701	-3,355	988,593	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	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
Net Income	2,334,000	723,000	671,000	715,000	859,688	9,751	394,000	195,800	623,265	419,942	675,486	438,156	543,544	419,039	298,821	144,117	326,384	392,453	468,954	448,528	136,494	227,408	243,646	150,423	214,640	-33,656	185,167	253,127	74,013	252,872	211,055	154,798	58,579	80,033	115,790	283,336	215,164	228,675	208,016	182,500	161,490	114,825	176,940	256,476	19,217	189,656	220,268	164,256	143,272	168,988	98,342	25,756	234,112	148,031	243,451	216,994	291,157	280,868	158,590	146,330	-136,511	32,851	198,743	195,883	240,870	206,206	205,855	205,012	245,739	192,298	142,887	132,290	100,893	-86,291	125,992	115,892	107,133	18,029	104,282	87,455	83,734	82,587	61,784	52,486	43,511	-7,721	19,226	3,966	4,731	892	8,400	-14,256	-14,256	2,259	-2,552	5,808	-19,636	-3,700	15,900	-25,000	4,991	-6,600	3,200	1,600	-1,761	3,300	300	200	1,412	900	1,000	800	-100
Net Income Applicable To Common Shares	0	713,000	661,000	705,000	849,504	6,917	394,160	185,616	613,081	388,751	663,820	427,753	533,141	408,636	288,418	133,714	315,981	382,050	458,551	438,125	126,091	217,006	233,243	137,276	203,535	-52,760	173,818	241,909	62,396	247,388	205,570	149,314	53,094	74,549	110,305	277,852	209,679	223,191	202,531	177,016	156,005	109,341	171,455	250,992	13,732	184,172	212,619	157,795	138,871	162,527	91,881	19,295	227,651	141,570	236,990	210,533	284,696	274,407	152,129	139,869	238,732	26,390	192,282	189,422	234,409	199,745	199,394	198,551	239,278	185,810	137,848	129,623	100,893	-125,992	125,992	115,892	107,133	18,029	104,282	87,455	83,734	81,771	61,784	52,486	39,625	-19,226	19,226	3,966	4,731	892	8,400	7,993	-2,286	2,286	-7,697	7,697	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income From Continuing Ops	2,333,000	723,000	669,000	717,000	862,788	18,258	403,945	197,432	623,675	421,415	718,664	400,251	599,314	488,682	466,389	-88,674	312,768	399,189	485,845	495,498	56,324	248,766	256,347	166,384	201,792	-45,217	199,099	274,035	95,574	303,620	249,357	175,627	28,006	64,000	125,819	308,757	207,134	223,264	211,717	179,145	161,490	114,825	176,940	256,476	0	0	0	0	0	168,988	98,342	25,756	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-34,000	-34,000	-33,000	-32,000	-31,700	-33,063	-32,795	-32,708	-32,248	-33,176	-35,700	-38,346	-38,419	-41,343	-31,139	-32,555	-31,199	-31,328	-29,280	-29,065	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	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	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	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
Non Recurring	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	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	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
Operating Income	172,000	794,000	729,000	811,000	952,307	65,064	459,462	240,127	689,919	124,119	24,476	75,457	7,581,099	484,089	356,087	204,617	5,419,194	461,897	542,706	523,479	4,700,132	290,494	297,658	202,974	4,886,912	4,043	248,085	310,200	3,691,280	282,046	240,849	187,215	3,408,852	103,037	126,581	308,750	3,357,274	239,273	229,639	200,642	2,960,596	128,158	187,863	267,227	2,900,091	202,475	228,474	173,679	2,774,590	174,846	104,369	33,106	2,624,218	158,602	252,787	231,007	2,895,321	289,074	173,120	161,532	2,527,976	37,243	209,784	209,363	2,818,727	213,843	217,415	219,030	2,957,076	200,030	162,870	149,269	2,995,338	-81,301	139,439	130,950	2,880,887	22,081	113,616	98,442	2,123,374	92,497	68,353	60,329	710,649	-7,329	14,258	4,191	-1,185	1,401	12,629	-26,861	-2,585	3,129	1,989	18,427	-30,693	-6,500	23,800	-38,600	7,726	-10,100	4,200	1,600	-3,299	4,700	200	-3,400	1,412	900	1,100	700	-200
Other Items	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	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	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 Operating Expenses	2,694,000	2,551,000	2,374,000	2,360,000	2,062,829	2,500,768	1,822,928	1,724,839	1,631,577	1,730,451	1,684,668	1,775,060	1,591,574	1,629,161	1,825,227	1,671,437	1,324,005	1,261,349	1,211,335	1,138,120	1,292,145	1,116,518	1,176,028	1,047,866	1,103,294	1,457,464	1,102,020	949,252	926,706	861,367	943,589	864,518	861,551	875,684	851,303	821,521	835,949	813,886	805,120	753,532	731,014	692,700	672,649	639,253	873,445	692,743	653,122	628,162	609,379	658,312	680,641	749,687	594,906	646,121	531,444	621,140	634,858	693,152	681,336	594,623	669,238	715,797	631,919	645,354	618,372	658,844	655,418	646,267	658,470	655,680	702,000	696,635	705,053	885,926	662,872	628,243	688,331	779,864	644,834	647,894	636,761	555,218	469,685	375,574	262,241	208,137	121,549	75,410	19,295	17,207	10,562	17,205	17,205	1,502	34,069	74,355	338,099	20,500	22,900	19,500	209,371	10,600	12,700	9,900	101,379	6,200	5,400	6,100	20,559	14,900	6,300	4,300	700
Preferred Stock And Other Adjustments	0	0	10,000	10,000	10,184	10,184	10,184	10,184	10,184	31,191	11,666	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,403	10,402	10,403	13,147	11,105	19,104	11,349	11,218	11,617	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	5,485	5,484	0	0	0	0	0	6,461	6,461	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	24,000	24,000	24,000	23,000	25,722	26,104	27,207	27,167	33,132	20,135	15,286	14,402	19,196	16,715	16,489	16,631	21,890	20,003	19,794	20,417	26,147	26,315	26,472	26,736	31,836	31,824	30,824	31,294	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	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	0	0	0	0	0
Research 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	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	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 And Marketing Expenses	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	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	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 Administrative	31,000	20,000	21,000	30,000	17,820	17,710	27,620	32,332	18,150	19,672	15,951	25,384	25,335	17,937	17,920	20,796	26,837	17,061	18,251	17,962	26,835	14,335	22,512	15,312	13,986	17,098	24,876	27,792	36,678	18,485	17,200	14,131	12,243	10,739	17,418	9,345	49,944	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	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
Tax Provision	-1,076,000	72,000	67,000	64,000	60,919	-14,900	22,323	11,619	34,406	4,137	51,179	38,860	34,059	23,707	26,127	27,945	27,336	38,116	44,472	45,886	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	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	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	1,057,000	-2,498,000	-2,359,000	2,787,000	853,428	274,747	1,905,603	289,943	7,903,737	1,726,118	2,285,291	1,914,902	-31	-1,425,060	-1,735,918	-1,154,916	625,905	-1,020,242	-980,238	-934,445	-33,043	-920,733	-955,732	-831,440	-69,766	-1,214,442	-886,398	-735,471	139,251	-740,615	-806,638	-707,588	-129,523	-689,392	-688,713	-676,324	25,375	-654,843	-638,137	-589,974	64,831	-568,693	-539,389	-513,172	-2,445,338	-571,936	-527,982	-514,169	-2,458,396	-544,189	-562,320	-639,546	-2,231,500	-535,629	-421,995	-507,074	-2,361,249	-587,408	-576,330	-501,795	-2,388,872	-613,904	-523,553	-542,643	-2,348,667	-557,775	-549,390	-549,931	163,300	-567,528	-611,982	-608,103	-124,856	-808,334	-583,011	-549,206	-2,348,455	-703,199	-571,037	-590,427	-1,586,420	-545,543	-428,690	-375,574	-481,795	-208,137	-121,549	-75,410	-19,295	-17,207	-10,562	-17,089	0	-958	-33,460	-74,325	-105,961	-98,600	-91,600	-104,700	-81,907	-65,300	-51,700	-44,800	-44,771	-27,600	-22,600	-27,900	-20,559	-14,900	-6,300	-4,300	-700
Total Other Income Expense Net	1,086,000	1,000	9,000	-69,000	-64,826	-70,213	-37,834	-55,594	12,253	3,314	12,381	4,369	18,320	6,332	3,527	15,400	5,440	4,664	7,082	9,908	-15	5,097	6,987	5,423	15,281	5,722	2,828	3,851	18,554	7,580	25,217	5,022	8,170	7,358	9,922	9,648	-358	-6,113	6,883	-522	2,385	624	834	1,244	-4,189	-532	695	-8,068	-4,848	2,432	14,110	4,567	-172,559	70,668	4,528	5,978	67,068	1,044	-15,913	-32,183	211	1,336	4,968	-17,209	7,349	4,306	2,356	2,573	2,703	2,269	3,468	1,805	991	2,239	1,025	6,112	3,323	5,948	-81	5,036	6,459	6,035	5,521	6,815	1,062	2,796	8,261	4,372	2,853	4,490	4,943	-116	0	-544	2,191	-30	-21,538	11,600	28,400	3,200	-3,264	2,500	7,400	4,900	5,192	7,600	2,900	3,400	0	3,200	3,600	3,200	0
Total Revenue	3,873,000	3,292,000	3,088,000	3,168,000	2,950,310	2,495,619	2,244,556	1,942,000	2,249,017	2,031,884	2,430,035	2,214,171	2,224,947	2,141,550	2,317,743	1,610,708	1,664,109	1,698,654	1,741,652	1,679,504	1,383,481	1,398,640	1,456,043	1,236,165	1,361,899	1,420,436	1,335,288	1,251,684	1,009,982	1,178,218	1,207,077	1,056,455	901,007	949,388	983,902	1,142,956	1,048,597	1,043,596	1,024,126	936,415	907,958	814,921	854,660	900,582	880,542	887,840	874,157	794,320	747,674	825,033	777,252	775,072	825,513	797,352	776,315	844,887	926,210	976,225	848,744	750,443	534,906	746,799	835,915	849,193	858,198	867,163	867,310	859,774	902,761	850,349	859,219	840,349	818,297	798,993	796,682	753,557	808,295	795,611	753,808	746,336	722,898	646,899	538,038	435,903	305,661	200,808	135,807	79,601	18,110	18,608	23,191	-9,772	-9,772	4,087	35,449	92,752	75,268	92,100	115,400	66,100	89,633	55,200	55,900	46,400	41,472	32,300	22,800	24,500	21,971	15,800	7,400	5,000	500

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	13,356,000
Cost of Revenue	-1,396,000
Gross Profit	11,960,000	11,960,000

Operating Income (+$)
Gross Profit	11,960,000
Operating Expense	-3,810,000
Operating Income	184,000	8,150,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	102,000
Selling And Marketing Expenses	0
Operating Expense	3,810,000	102,000

Net Interest Income (+$)
Interest Income	0
Interest Expense	-133,000
Other Finance Cost	-2,734
Net Interest Income	-130,266

Pretax Income (+$)
Operating Income	184,000
Net Interest Income	-130,266
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	3,107,000	-2,923,000 EBIT - interestExpense = -44,000 3,570,000 4,576,000
Interest Expense	133,000
Earnings Before Interest and Taxes (EBIT)	89,000	3,240,000
Earnings Before Interest and Taxes (EBITDA)	184,000

After tax Income (+$)
Income Before Tax	3,107,000
Tax Provision	-263,961
Net Income From Continuing Ops	2,971,423	2,843,039
Net Income	4,443,000
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	10,056,000
Total Other Income/Expenses Net	3,107,000	130,266

Technical Analysis of Arch Capital Group Ltd
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Arch Capital Group Ltd. The general trend of Arch Capital Group Ltd is BULLISH with 71.4% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Arch Capital Group Ltd's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (71.4%)		Bearish trend (-71.4%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Arch Capital Group Ltd.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 95.01.

The bearish price targets are: 89.23 > 81.37 > 80.97.

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Arch Capital Group Ltd Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Arch Capital Group Ltd. The current mas is .

The long score for the Moving Averages is 12/14.
The longshort score for the Moving Averages is 10/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Arch Capital Group Ltd Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Arch Capital Group Ltd. The current macd is 0.6526961.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Arch Capital Group Ltd price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Arch Capital Group Ltd. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Arch Capital Group Ltd price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Arch Capital Group Ltd Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Arch Capital Group Ltd. The current adx is 21.96.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -1/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Arch Capital Group Ltd shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

Arch Capital Group Ltd Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Arch Capital Group Ltd. The current sar is 89.65.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

Arch Capital Group Ltd Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Arch Capital Group Ltd. The current rsi is 47.62. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Arch Capital Group Ltd Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Arch Capital Group Ltd. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -4/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Arch Capital Group Ltd price going down in the near term. -2
Trending down: The STOCH %K is trending down. -1

Arch Capital Group Ltd Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Arch Capital Group Ltd. The current cci is -50.76985421.

Arch Capital Group Ltd Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Arch Capital Group Ltd. The current cmo is -14.80484663.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Arch Capital Group Ltd Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Arch Capital Group Ltd. The current willr is -69.82836495.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Arch Capital Group Ltd is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

Arch Capital Group Ltd Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Arch Capital Group Ltd.

Arch Capital Group Ltd Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Arch Capital Group Ltd. The current atr is 1.61410367.

Arch Capital Group Ltd Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Arch Capital Group Ltd. The current obv is 232,153,453.

Arch Capital Group Ltd Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Arch Capital Group Ltd. The current mfi is 44.55.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

Arch Capital Group Ltd Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Arch Capital Group Ltd.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-12-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-06	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2023-12-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-14	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-12-18	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-29	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-02	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-01-03	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-04	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-05	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-09	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-10	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-11	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-12	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-16	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-19	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-01-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-29	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-30	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-31	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-02-06	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-08	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-20	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-21	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-23	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-28	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-11	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-18	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-21	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-22	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-03-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-28	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-05	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-08	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-04-09	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-10	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-11	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-18	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-04-23	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-04-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-26	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).

6.3. Candlestick Patterns

Arch Capital Group Ltd Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Arch Capital Group Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	47.616
Ma 20	Greater than	Ma 50	92.081
Ma 50	Greater than	Ma 100	90.236
Ma 100	Greater than	Ma 200	84.533
Open	Greater than	Close	92.110
Total			4/5 (80.0%)

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Quick analysis of Arch Capital Group Ltd (30 sec.)

What can you expect buying and holding a share of Arch Capital Group Ltd? (30 sec.)

How much money do you get?

What is your share worth?

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1. Valuation of Arch Capital Group Ltd (5 min.)

$90.90

$48.33

$98.68 - $265.90

$147.01 - $314.23

2. Growth of Arch Capital Group Ltd (5 min.)

Is Arch Capital Group Ltd growing?

How much money is Arch Capital Group Ltd making?

How much money comes from the company's main activities?

3. Financial Health of Arch Capital Group Ltd (5 min.)

What can you expect buying and holding a share of Arch Capital Group Ltd? (5 min.)

What can you expect buying and holding a share of Arch Capital Group Ltd?

Speculation

Investing

How much money are you going to get?

When do you get the money?

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Linear %

Fundamentals of Arch Capital Group Ltd

About Arch Capital Group Ltd

Financial Health

Valuation

1.1. Profitability of Arch Capital Group Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of Arch Capital Group Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Arch Capital Group Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of Arch Capital Group Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of Arch Capital Group Ltd

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

Trends

Arch Capital Group Ltd
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