AerCap Holdings NV
Buy, Hold or Sell?

Let's analyse Aercap together

Penke I guess you are interested in AerCap Holdings NV. 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 AerCap Holdings NV. 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 Aercap (30 sec.)

What can you expect buying and holding a share of Aercap? (30 sec.)

How much money do you get?

$0.00

When do you have the money?

1 year

How often do you get paid?

10.0%

What is your share worth?

Current worth

$80.54

Expected worth in 1 year

$94.40

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$13.86

Return On Investment

16.4%

For what price can you sell your share?

Current Price per Share

$84.41

Expected price per share

$75.83 - $88.44

How sure are you?

50%

1. Valuation of Aercap (5 min.)

Live pricePrice per Share (EOD)

$84.41

Book Value per Share

$80.54

Intrinsic Value Per Share

$-133.75 - $26.07

Total Value Per Share

$-53.21 - $106.61

My calculation of the intrinsic value of Aercap 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: ($-0.57) 3Y: ($0.88) TTM: ($-1.05)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($-0.21) TTM: ($-0.83)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-4.19	$3.40	$-5.62 - $3.42
2	$-11.19	$6.60	$-8.95 - $3.32
3	$-20.65	$9.62	$-12.29 - $3.22
4	$-32.28	$12.45	$-15.63 - $3.11
5	$-45.81	$15.11	$-18.97 - $3.01
6	$-60.97	$17.60	$-22.31 - $2.91
7	$-77.54	$19.94	$-25.65 - $2.80
8	$-95.32	$22.12	$-28.99 - $2.70
9	$-114.11	$24.16	$-32.33 - $2.60
10	$-133.75	$26.07	$-35.66 - $2.49

2. Growth of Aercap (5 min.)

Is Aercap growing?

	Current year	Previous year	Grow	Grow %
How rich?	$16.5b	$15.4b	$948.6m	5.8%

How much money is Aercap making?

	Current year	Previous year	Grow	Grow %
Making money	$784m	-$181.7m	$965.8m	123.2%
Net Profit Margin	42.8%	-9.4%	-	-

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

Quarterly Yearly

3. Financial Health of Aercap (5 min.)

4. Comparing to competitors in the Rental & Leasing Services industry (5 min.)

Industry Rankings (Rental & Leasing Services)

Richest
#1 / 87

Most Revenue
#10 / 87

Most Profit
#2 / 87

Most Efficient
#8 / 87

What can you expect buying and holding a share of Aercap? (5 min.)

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

What can you expect buying and holding a share of Aercap?

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

Speculation

The Price per Share of Aercap is $84.41. 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 Aercap.
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 Aercap, 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 $80.54. Based on the TTM, the Book Value Change Per Share is $3.46 per quarter. Based on the YOY, the Book Value Change Per Share is $-3.88 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 $0.00 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Aercap.

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	5.37	6.4%	3.53	4.2%	-0.77	-0.9%	1.01	1.2%	1.13	1.3%
Usd Book Value Change Per Share	8.54	10.1%	3.46	4.1%	-3.88	-4.6%	1.83	2.2%	1.71	2.0%
Usd Dividend Per Share	0.00	0.0%	0.00	0.0%	0.00	0.0%	0.00	0.0%	0.00	0.0%
Usd Total Gains Per Share	8.54	10.1%	3.46	4.1%	-3.88	-4.6%	1.83	2.2%	1.72	2.0%
Usd Price Per Share	74.32	-	64.19	-	47.97	-	51.05	-	47.75	-
Price to Earnings Ratio	3.46	-	5.51	-	4.69	-	11.83	-	11.14	-
Price-to-Total Gains Ratio	8.70	-	240.81	-	22.33	-	89.13	-	956.80	-
Price to Book Ratio	0.92	-	0.88	-	0.75	-	0.92	-	1.06	-
Price-to-Total Gains Ratio	8.70	-	240.81	-	22.33	-	89.13	-	956.80	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	84.41
Number of shares	11

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.00	0.00
Usd Book Value Change Per Share	3.46	1.83
Usd Total Gains Per Share	3.46	1.83
Gains per Quarter (11 shares)	38.10	20.18
Gains per Year (11 shares)	152.42	80.71

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	0	152	142	0	81	71
2	0	305	294	0	161	152
3	0	457	446	0	242	233
4	0	610	598	0	323	314
5	0	762	750	0	404	395
6	0	914	902	0	484	476
7	0	1067	1054	0	565	557
8	0	1219	1206	0	646	638
9	0	1372	1358	0	726	719
10	0	1524	1510	0	807	800

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%	11.0	1.0	0.0	91.7%	18.0	2.0	0.0	90.0%	38.0	2.0	0.0	95.0%	73.0	2.0	0.0	97.3%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	18.0	2.0	0.0	90.0%	33.0	7.0	0.0	82.5%	58.0	12.0	5.0	77.3%
Dividend per Share	0.0	0.0	4.0	0.0%	0.0	0.0	12.0	0.0%	0.0	0.0	20.0	0.0%	4.0	0.0	36.0	10.0%	5.0	0.0	70.0	6.7%
Total Gains per Share	4.0	0.0	0.0	100.0%	11.0	1.0	0.0	91.7%	18.0	2.0	0.0	90.0%	33.0	7.0	0.0	82.5%	58.0	12.0	5.0	77.3%

Fundamentals of Aercap

About AerCap Holdings NV

https://www.aercap.com
Rental & Leasing Services
678
AerCap House, Dublin, Ireland, D02 YX20
Google Maps Bing Maps

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews. Its aircraft asset management services also include periodically inspecting the leased aircraft and engines; coordinating technical modifications to aircraft to meet new lessee requirements; conducting restructuring negotiations in connection with lease defaults; repossessing aircraft and engines; arranging and monitoring insurance coverage; registering and de-registering aircraft; arranging for aircraft and engine valuations; and providing market research services. In addition, the company provides cash management services, including treasury services, such as the financing, refinancing, hedging, and ongoing cash management of vehicles; and administrative services comprising accounting and corporate secretarial services consisting of the preparation of budgets and financial statements. Further, it offers airframe and engine parts and supply chain solutions to airlines; maintenance, repair, and overhaul service providers; and aircraft parts distributors. The company had a portfolio of owned, managed, or on order aircraft. AerCap Holdings N.V. was founded in 1995 and is headquartered in Dublin, Ireland.

Fundamental data was last updated by Penke on 2024-04-13 04:10:03.

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 inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating efficient.
The company is efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is 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 just able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details

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

1.1. Profitability of AerCap Holdings NV.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Aercap earns for each $1 of revenue.

Above 10% is considered healthy but always compare Aercap to the Rental & Leasing Services industry mean.
A Net Profit Margin of 64.1% means that $0.64 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of AerCap Holdings NV:

The MRQ is 64.1%. The company is making a huge profit. +2
The TTM is 42.8%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	64.1%	TTM	42.8%	+21.2%
TTM	42.8%	YOY	-9.4%	+52.2%
TTM	42.8%	5Y	14.2%	+28.6%
5Y	14.2%	10Y	17.7%	-3.5%

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	64.1%	9.3%	+54.8%
TTM	42.8%	9.5%	+33.3%
YOY	-9.4%	7.1%	-16.5%
5Y	14.2%	5.9%	+8.3%
10Y	17.7%	4.5%	+13.2%

Measures how much net profit Aercap earns for each $1 of revenue.

Revenue is the amount of profit Aercap 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 Aercap 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 Aercap to the Rental & Leasing Services industry mean.
Can be used to compare companies within the Rental & Leasing Services industry.

You typically want a high profit margin. This means that for each $1 in sales, Aercap makes more profit. This shows the investor how efficiently Aercap is operating in general and compared to other companies in the same industry. Aercap operates in the Rental & Leasing Services industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Aercap. If profit margins remain low (compared to the Rental & Leasing Services 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 Aercap is 0.64. This means that Aercap earned $0.64 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 Rental & Leasing Services industry is 9.3%.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap with other companies in the same industry (Rental & Leasing Services).
Net profit margin should rise over the years.
Can be influenced when Aercap sells assets (profit will increase while costs remain the same).
It won’t show what part of Aercap 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 Aercap

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 Aercap = 1,105,838
Total revenue MRQ Aercap = 1,726,496
$1,105,838 / $1,726,496 = 0.64 or 64.1%

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 Aercap is using its assets to generate profit.

Above 5% is considered healthy but always compare Aercap to the Rental & Leasing Services industry mean.
1.6% Return on Assets means that Aercap generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of AerCap Holdings NV:

The MRQ is 1.6%. Using its assets, the company is less efficient in making profit.
The TTM is 1.1%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	1.6%	TTM	1.1%	+0.4%
TTM	1.1%	YOY	-0.3%	+1.4%
TTM	1.1%	5Y	0.4%	+0.7%
5Y	0.4%	10Y	0.5%	-0.1%

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	1.6%	1.4%	+0.2%
TTM	1.1%	1.5%	-0.4%
YOY	-0.3%	1.5%	-1.8%
5Y	0.4%	1.0%	-0.6%
10Y	0.5%	0.8%	-0.3%

Shows how efficient Aercap 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 Aercap to the Rental & Leasing Services 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 Aercap is using its resources to generate profit. If the return on assets (1.6%) from Aercap are higher than the Rental & Leasing Services mean (1.4%) that means Aercap 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 Aercap is 1.6%. This means the company generated $0.02 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Rental & Leasing Services industry is 1.4%.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

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

Income statement
Balance sheet

Net income MRQ (income statement) from Aercap = 1,105,838
Total assets MRQ (balance sheet) from Aercap = 71,274,559
1,105,838 / 71,274,559 = 0.02 or 1.6%

ROA is an important ratio as it will tell you how effectively Aercap 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 Aercap is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Aercap to the Rental & Leasing Services industry mean.
6.7% Return on Equity means Aercap generated $0.07 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of AerCap Holdings NV:

The MRQ is 6.7%. Using its investors money, the company is less efficient in making profit.
The TTM is 4.8%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	6.7%	TTM	4.8%	+1.9%
TTM	4.8%	YOY	-1.4%	+6.2%
TTM	4.8%	5Y	1.6%	+3.2%
5Y	1.6%	10Y	2.4%	-0.8%

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	6.7%	4.8%	+1.9%
TTM	4.8%	4.8%	0.0%
YOY	-1.4%	4.5%	-5.9%
5Y	1.6%	3.2%	-1.6%
10Y	2.4%	3.4%	-1.0%

Shows how efficient Aercap 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 Aercap to the Rental & Leasing Services 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 Rental & Leasing Services 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 Aercap is 6.7%. This means Aercap generated $0.07 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Rental & Leasing Services industry is 4.8%.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap up to 10 years back (depending if Aercap 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 Aercap

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Aercap = 1,105,838
Shareholders equity (balance sheet) MRQ Aercap = 16,588,830
1,105,838 / 16,588,830 = 0.07 or 6.7%

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 AerCap Holdings NV.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Aercap is operating .

Measures how much profit Aercap 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 Aercap to the Rental & Leasing Services industry mean.
An Operating Margin of 48.5% means the company generated $0.49 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of AerCap Holdings NV:

The MRQ is 48.5%. The company is operating very efficient. +2
The TTM is 24.4%. The company is operating efficient. +1

Trends

Current period		Compared to		+/-
MRQ	48.5%	TTM	24.4%	+24.1%
TTM	24.4%	YOY	64.0%	-39.6%
TTM	24.4%	5Y	42.0%	-17.6%
5Y	42.0%	10Y	34.6%	+7.4%

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	48.5%	14.2%	+34.3%
TTM	24.4%	12.7%	+11.7%
YOY	64.0%	11.6%	+52.4%
5Y	42.0%	10.8%	+31.2%
10Y	34.6%	10.9%	+23.7%

Measures how efficient Aercap 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 Aercap to the Rental & Leasing Services 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 Aercap 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 Aercap is 48.5%. This means that Aercap earned $0.49 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Rental & Leasing Services industry is 14.2%.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Aercap = 837,967
Total revenue MRQ Aercap = 1,726,496
$837,967 / $1,726,496 = 0.49 or 48.5%

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 Aercap is keeping operating costs low.

Below 1 is considered healthy (always compare to Rental & Leasing Services industry mean).
An Operation Ratio of 0.51 means that the operating costs are $0.51 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of AerCap Holdings NV:

The MRQ is 0.515. The company is very efficient in keeping operating costs low. +2
The TTM is 0.673. The company is efficient in keeping operating costs low. +1

Trends

Current period		Compared to		+/-
MRQ	0.515	TTM	0.673	-0.158
TTM	0.673	YOY	0.753	-0.080
TTM	0.673	5Y	0.728	-0.055
5Y	0.728	10Y	0.732	-0.004

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	0.515	1.006	-0.491
TTM	0.673	0.933	-0.260
YOY	0.753	0.896	-0.143
5Y	0.728	0.940	-0.212
10Y	0.732	0.922	-0.190

Measures how efficient Aercap 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 Aercap to the Rental & Leasing Services 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 Aercap is 51.5%. This means that Aercap earned $0.51 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 Rental & Leasing Services industry is 1.01.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

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
(766,650 +121,879) \ 1,726,496 = 0.51

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 AerCap Holdings NV.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Aercap is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Rental & Leasing Services industry mean).
A Current Ratio of 0.81 means the company has $0.81 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of AerCap Holdings NV:

The MRQ is 0.812. The company is just not able to pay all its short-term debts. -1
The TTM is 2.714. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	0.812	TTM	2.714	-1.902
TTM	2.714	YOY	1.420	+1.294
TTM	2.714	5Y	1.661	+1.053
5Y	1.661	10Y	1.358	+0.303

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	0.812	1.282	-0.470
TTM	2.714	1.300	+1.414
YOY	1.420	1.420	+0.000
5Y	1.661	1.354	+0.307
10Y	1.358	1.294	+0.064

Measures if Aercap 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 Rental & Leasing Services 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 Aercap 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 Aercap is 0.81. This means Aercap has $0.81 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Rental & Leasing Services industry is 1.28.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
3,796,402 \ 4,675,042) = 0.81

The current ratio measures if Aercap 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 Aercap 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 Aercap 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 Aercap 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 Aercap is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Aercap to the Rental & Leasing Services industry mean.
A Quick Ratio of 0.79 means the company can pay off $0.79 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of AerCap Holdings NV:

The MRQ is 0.794. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 2.445. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.794	TTM	2.445	-1.651
TTM	2.445	YOY	1.364	+1.081
TTM	2.445	5Y	1.496	+0.949
5Y	1.496	10Y	1.226	+0.271

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	0.794	0.716	+0.078
TTM	2.445	0.832	+1.613
YOY	1.364	0.955	+0.409
5Y	1.496	0.993	+0.503
10Y	1.226	0.946	+0.280

1.4. Solvency of AerCap Holdings NV.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Aercap assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Aercap to Rental & Leasing Services industry mean.
A Debt to Asset Ratio of 0.77 means that Aercap assets are financed with 76.7% credit (debt) and the remaining percentage (100% - 76.7%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of AerCap Holdings NV:

The MRQ is 0.767. The company is just able to pay all its debts by selling its assets.
The TTM is 0.768. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.767	TTM	0.768	-0.001
TTM	0.768	YOY	0.779	-0.011
TTM	0.768	5Y	0.781	-0.013
5Y	0.781	10Y	0.791	-0.010

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	0.767	0.690	+0.077
TTM	0.768	0.693	+0.075
YOY	0.779	0.693	+0.086
5Y	0.781	0.692	+0.089
10Y	0.791	0.646	+0.145

Measures how much % of Aercap assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Aercap than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Aercap to Rental & Leasing Services 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 Aercap is 0.77. This means means that Aercap is financed with 76.7% 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 Rental & Leasing Services industry is 128.2%.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Aercap

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

Balance sheet
Debt to asset ratio = total debt \ total assets
54,685,513 \ 71,274,559 = 76.7% or 0.77.

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 Aercap is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Aercap to the Rental & Leasing Services industry mean.
A Debt to Equity ratio of 329.7% means that company has $3.30 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of AerCap Holdings NV:

The MRQ is 3.297. The company is unable to pay all its debts with equity. -1
The TTM is 3.326. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	3.297	TTM	3.326	-0.030
TTM	3.326	YOY	3.555	-0.229
TTM	3.326	5Y	3.598	-0.271
5Y	3.598	10Y	3.846	-0.248

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
MRQ	3.297	2.188	+1.109
TTM	3.326	2.278	+1.048
YOY	3.555	2.117	+1.438
5Y	3.598	2.293	+1.305
10Y	3.846	2.217	+1.629

Measures if Aercap 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 Aercap 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 Aercap is 3.30. This means that Aercap can pay off $3.30 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Rental & Leasing Services industry is 2.19.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
54,685,513 \ 16,588,830 = 3.30 or 329.7%

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 AerCap Holdings NV

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 Aercap generates.

Above 15 is considered overpriced but always compare Aercap to the Rental & Leasing Services industry mean.
A PE ratio of 3.46 means the investor is paying $3.46 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of AerCap Holdings NV:

The EOD is 3.930. Based on the earnings, the company is cheap. +2
The MRQ is 3.461. Based on the earnings, the company is cheap. +2
The TTM is 5.511. Based on the earnings, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	3.930	MRQ	3.461	+0.470
MRQ	3.461	TTM	5.511	-2.051
TTM	5.511	YOY	4.693	+0.818
TTM	5.511	5Y	11.830	-6.319
5Y	11.830	10Y	11.143	+0.687

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
EOD	3.930	9.868	-5.938
MRQ	3.461	9.884	-6.423
TTM	5.511	10.717	-5.206
YOY	4.693	10.746	-6.053
5Y	11.830	11.355	+0.475
10Y	11.143	12.176	-1.033

Measures how much money you pay for each share for every $1 in earnings Aercap 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 Aercap to the Rental & Leasing Services 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 Aercap is 3.46. This means the investor is paying $3.46 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Rental & Leasing Services industry is 9.88.
What is the trend?
The trend is important because it shows you how Aercap is performing over time. The most recent quarter might be important if Aercap 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 Aercap 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 Aercap

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 \ 205,969 = EPS
PE ratio MRQ = 3.46

* 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 AerCap Holdings NV:

The EOD is -25.548. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is -22.494. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is -17.555. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	-25.548	MRQ	-22.494	-3.054
MRQ	-22.494	TTM	-17.555	-4.939
TTM	-17.555	YOY	-3.563	-13.992
TTM	-17.555	5Y	-4.179	-13.376
5Y	-4.179	10Y	-7.567	+3.388

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
EOD	-25.548	1.309	-26.857
MRQ	-22.494	1.434	-23.928
TTM	-17.555	1.199	-18.754
YOY	-3.563	-1.402	-2.161
5Y	-4.179	0.612	-4.791
10Y	-7.567	-0.095	-7.472

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Aercap is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Rental & Leasing Services industry mean).
A PB ratio of 0.92 means the investor is paying $0.92 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of AerCap Holdings NV:

The EOD is 1.048. Based on the equity, the company is underpriced. +1
The MRQ is 0.923. Based on the equity, the company is cheap. +2
The TTM is 0.885. Based on the equity, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	1.048	MRQ	0.923	+0.125
MRQ	0.923	TTM	0.885	+0.038
TTM	0.885	YOY	0.751	+0.133
TTM	0.885	5Y	0.919	-0.035
5Y	0.919	10Y	1.064	-0.145

Compared to industry (Rental & Leasing Services)

Period	Company	Industry (mean)	+/-
EOD	1.048	1.297	-0.249
MRQ	0.923	1.495	-0.572
TTM	0.885	1.460	-0.575
YOY	0.751	1.354	-0.603
5Y	0.919	1.553	-0.634
10Y	1.064	1.662	-0.598

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of AerCap Holdings NV.

3.1. Institutions holding AerCap Holdings NV

Institutions are holding 96.996% of the shares of AerCap Holdings NV.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Wellington Management Company LLP	10.1897	0.2859	20633525	-394675	-1.8769
2023-12-31	Eagle Capital Management LLC	6.2364	3.9852	12628278	-422071	-3.2342
2023-12-31	BlackRock Inc	5.1107	0.0196	10348763	1647950	18.9402
2023-12-31	Allspring Global Investments Holdings, LLC	4.0152	1.0017	8130432	-543366	-6.2645
2023-12-31	Franklin Resources Inc	3.0077	0.2116	6090321	1476236	31.9941
2023-12-31	Cooke & Bieler LP	2.6796	3.5543	5426050	-163071	-2.9177
2023-09-30	D. E. Shaw & Co LP	2.4636	0.3264	4988569	1806423	56.7674
2023-12-31	Amundi	2.1337	0.1422	4320527	-643580	-12.9647
2023-12-31	London Company of Virginia	2.0572	1.7425	4165651	37548	0.9096
2023-12-31	State Street Corporation	2.0398	0.0149	4130475	872209	26.7691
2023-12-31	Arrowstreet Capital Limited Partnership	2.0104	0.3172	4070942	1981293	94.8146
2023-12-31	Donald Smith & Co Inc	2.0096	7.7568	4069400	211260	5.4757
2023-09-30	Alyeska Investment Group, L.P.	1.9793	1.7058	4007875	3382210	540.5784
2023-12-31	Lyrical Asset Management LP	1.6081	3.947	3256223	4278	0.1316
2023-09-30	59 North Capital Management, LP	1.4185	20.8456	2872302	1588196	123.6811
2023-12-31	Morgan Stanley - Brokerage Accounts	1.4081	0.0187	2851381	633782	28.5796
2023-12-31	Soros Fund Management LLC	1.2195	2.4003	2469496	611852	32.937
2023-12-31	Ninety One UK Limited	1.1979	0.5364	2425602	1168628	92.9715
2023-12-31	Slate Path Capital LP	1.1571	3.8653	2343000	833000	55.1656
2023-12-31	Perpetual Ltd	1.0981	1.705	2223504	-227751	-9.2912
Total		55.0402	54.3824	111452316	+13860351	+12.4%

3.2. Funds holding AerCap Holdings NV

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	AF High Growth (AFRIS)	3.3563	0.0889	6796261	6796261	0
2023-12-31	Allspring Special US Mid Cap Value Eq	3.0127	3.6114	6100500	-480800	-7.3055
2024-03-31	Allspring Special Mid Cap Value Inst	2.8346	3.7324	5739950	-234900	-3.9315
2023-12-31	Donald Smith & Co. All Eq Accounts Comp	1.994	7.5164	4037777	211675	5.5324
2023-12-31	Vanguard Selected Value Inv	1.6026	3.5108	3245101	-186000	-5.421
2024-02-29	Global Balanced (AFRIS)	1.5397	0.1955	3117757	3117757	0
2023-12-31	Touchstone Mid Cap Y	1.5224	4.3829	3082834	55755	1.8419
2023-12-31	Vanguard Windsor Investor Shares	1.3964	0.8871	2827603	-18866	-0.6628
2024-02-29	Franklin Mutual Global Discovery Z	1.1247	1.9693	2277483	-229799	-9.1653
2023-12-31	Donald Smith & Co. Md-Cap Val Eq	0.9024	9.2979	1827251	-186000	-9.2388
2023-12-31	Vanguard Explorer Inv	0.8553	0.602	1731887	-259114	-13.0143
2024-02-29	Franklin Mutual Shares Z	0.6904	1.5929	1397931	0	0
2023-12-31	Lyrical U.S. Value Equity - CS	0.6353	2.981	1286375	125725	10.8323
2024-01-31	JHancock International Growth 1	0.6306	1.6905	1276915	-25266	-1.9403
2024-03-28	iShares Core MSCI EAFE ETF	0.5762	0.0882	1166754	0	0
2023-12-31	Wellington Global Quality Growth	0.5726	1.462	1159524	-52246	-4.3115
2024-02-29	Wellington Glbl Quality Gr USD S Ac	0.5681	1.4009	1150302	-9222	-0.7953
2023-12-31	Lyrical U.S. Value Equity – EQ	0.5345	4.3455	1082344	-5794	-0.5325
2024-03-31	Bridge Builder Large Cap Value	0.5255	0.4351	1064037	0	0
Total		24.8743	49.7907	50368586	+8619166	+17.1%

3.3. Insider Transactions

Insiders are holding 3.185% of the shares of AerCap Holdings NV.

Date	Owner	Type	Amount	Price	Post Transaction Amount
2017-08-24	Michael George Walsh	BUY	500	48.58	500
2017-08-09	James A Lawrence	BUY	100000	49.81	53280
2017-08-07	Michael Gradon	SELL	742	50.16	3380
2017-08-04	Aengus Kelly	SELL	100000	49.87	2231875
2017-05-30	Dikken Wouter Marinus Den	SELL	50000	43.99	205808
2017-05-11	James N Chapman	SELL	4000	44.58	11261
2017-03-13	Dikken Wouter Marinus Den	SELL	75000	44.95	203419
2016-12-12	Aengus Kelly	SELL	100000	43.71	2331875
2016-11-21	Michael Gradon	SELL	1091	44.57	4122
2016-09-06	Michael Gradon	SELL	592	40.58	5213
2016-02-26	Marius Jonkhart	BUY	5000	34.38	13036
2015-06-18	Michael Gradon	SELL	1603	46.41
2014-12-11	Keith A Helming	SELL	25000	41.53
2014-12-03	Dikken Wouter Marinus Den	SELL	25000	43.14
2014-11-05	Aengus Kelly	SELL	75000	44.96
2014-11-05	Pieter Korteweg	SELL	4446	44.9
2014-09-05	Dikken Wouter Marinus Den	SELL	13448	47.2
2014-09-04	James N Chapman	SELL	8000	46.71
2014-09-03	Aengus Kelly	SELL	83000	47.36
2014-06-13	Michael Gradon	SELL	3250	45.23

4. Summary

4.1. Key Performance Indicators

The key performance indicators of AerCap Holdings NV 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	-	-	8.538	3.464	+146%	-3.882	+145%	1.834	+365%	1.714	+398%
Book Value Per Share	-	-	80.541	72.420	+11%	63.769	+26%	56.590	+42%	48.021	+68%
Current Ratio	-	-	0.812	2.714	-70%	1.420	-43%	1.661	-51%	1.358	-40%
Debt To Asset Ratio	-	-	0.767	0.768	0%	0.779	-2%	0.781	-2%	0.791	-3%
Debt To Equity Ratio	-	-	3.297	3.326	-1%	3.555	-7%	3.598	-8%	3.846	-14%
Dividend Per Share	-	-	-	-	0%	-	0%	-	0%	0.004	-100%
Eps	-	-	5.369	3.534	+52%	-0.773	+114%	1.008	+432%	1.129	+376%
Free Cash Flow Per Share	-	-	-0.826	-1.047	+27%	1.343	-162%	0.362	-328%	-0.569	-31%
Free Cash Flow To Equity Per Share	-	-	-8.307	-3.379	-59%	-1.932	-77%	3.857	-315%	0.948	-976%
Gross Profit Margin	-	-	0.980	0.964	+2%	0.970	+1%	0.960	+2%	0.945	+4%
Intrinsic Value_10Y_max	-	-	26.069	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-133.748	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	3.400	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-4.194	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	9.615	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-20.651	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	15.107	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-45.805	-	-	-	-	-	-	-	-
Market Cap	17092433454.720	+10%	15307623363.360	14483024076.973	+6%	11597609240.155	+32%	11010564876.002	+39%	10053901010.475	+52%
Net Profit Margin	-	-	0.641	0.428	+50%	-0.094	+115%	0.142	+352%	0.177	+262%
Operating Margin	-	-	0.485	0.244	+99%	0.640	-24%	0.420	+15%	0.346	+40%
Operating Ratio	-	-	0.515	0.673	-24%	0.753	-32%	0.728	-29%	0.732	-30%
Pb Ratio	1.048	+12%	0.923	0.885	+4%	0.751	+23%	0.919	+0%	1.064	-13%
Pe Ratio	3.930	+12%	3.461	5.511	-37%	4.693	-26%	11.830	-71%	11.143	-69%
Price Per Share	84.410	+12%	74.320	64.185	+16%	47.968	+55%	51.046	+46%	47.751	+56%
Price To Free Cash Flow Ratio	-25.548	-14%	-22.494	-17.555	-22%	-3.563	-84%	-4.179	-81%	-7.567	-66%
Price To Total Gains Ratio	9.886	+12%	8.705	240.812	-96%	22.329	-61%	89.128	-90%	956.796	-99%
Quick Ratio	-	-	0.794	2.445	-68%	1.364	-42%	1.496	-47%	1.226	-35%
Return On Assets	-	-	0.016	0.011	+40%	-0.003	+117%	0.004	+308%	0.005	+209%
Return On Equity	-	-	0.067	0.048	+39%	-0.014	+121%	0.016	+310%	0.024	+177%
Total Gains Per Share	-	-	8.538	3.464	+146%	-3.882	+145%	1.834	+365%	1.717	+397%
Usd Book Value	-	-	16589046000.000	16368824500.000	+1%	15420174250.000	+8%	12301460900.000	+35%	10187110125.000	+63%
Usd Book Value Change Per Share	-	-	8.538	3.464	+146%	-3.882	+145%	1.834	+365%	1.714	+398%
Usd Book Value Per Share	-	-	80.541	72.420	+11%	63.769	+26%	56.590	+42%	48.021	+68%
Usd Dividend Per Share	-	-	-	-	0%	-	0%	-	0%	0.004	-100%
Usd Eps	-	-	5.369	3.534	+52%	-0.773	+114%	1.008	+432%	1.129	+376%
Usd Free Cash Flow	-	-	-170129279.000	-240129819.750	+41%	324847500.000	-152%	78337986.050	-317%	-113469231.975	-33%
Usd Free Cash Flow Per Share	-	-	-0.826	-1.047	+27%	1.343	-162%	0.362	-328%	-0.569	-31%
Usd Free Cash Flow To Equity Per Share	-	-	-8.307	-3.379	-59%	-1.932	-77%	3.857	-315%	0.948	-976%
Usd Market Cap	17092433454.720	+10%	15307623363.360	14483024076.973	+6%	11597609240.155	+32%	11010564876.002	+39%	10053901010.475	+52%
Usd Price Per Share	84.410	+12%	74.320	64.185	+16%	47.968	+55%	51.046	+46%	47.751	+56%
Usd Profit	-	-	1105838000.000	784022750.000	+41%	-181793750.000	+116%	212827550.000	+420%	235146775.000	+370%
Usd Revenue	-	-	1726496000.000	1851734250.000	-7%	1728746250.000	0%	1415922650.000	+22%	1312721450.000	+32%
Usd Total Gains Per Share	-	-	8.538	3.464	+146%	-3.882	+145%	1.834	+365%	1.717	+397%
	EOD	+5 -3	MRQ	TTM	+26 -8	YOY	+22 -12	5Y	+24 -10	10Y	+25 -11

4.2. Fundamental Score

Let's check the fundamental score of AerCap Holdings NV based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	3.930
Price to Book Ratio (EOD)	Between	0-1	1.048
Net Profit Margin (MRQ)	Greater than	0	0.641
Operating Margin (MRQ)	Greater than	0	0.485
Quick Ratio (MRQ)	Greater than	1	0.794
Current Ratio (MRQ)	Greater than	1	0.812
Debt to Asset Ratio (MRQ)	Less than	1	0.767
Debt to Equity Ratio (MRQ)	Less than	1	3.297
Return on Equity (MRQ)	Greater than	0.15	0.067
Return on Assets (MRQ)	Greater than	0.05	0.016
Total			4/10 (40.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
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4.3. Technical Score

Let's check the technical score of AerCap Holdings NV based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	52.081
Ma 20	Greater than	Ma 50	85.201
Ma 50	Greater than	Ma 100	82.295
Ma 100	Greater than	Ma 200	78.017
Open	Greater than	Close	83.570
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.
Create your own Symbol Scanner

Latest Balance Sheet

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

Summary

Total Assets	71,274,559
Total Liabilities	54,685,513
Total Stockholder Equity	16,588,830

	As reported
Total Liabilities	54,685,513
Total Stockholder Equity	+ 16,588,830
Total Assets	= 71,274,559

Assets

Total Assets	71,274,559
Total Current Assets	3,796,402
Long-term Assets	67,478,157

Total Current Assets

Total Current Assets (as reported)	3,796,402
Cash And Cash Equivalents	1,825,466
Net Receivables	1,885,268
Inventory	85,668
Total Current Assets (calculated)	3,796,402
+/-	0

Long-term Assets

Long-term Assets (as reported)	67,478,157
Property Plant Equipment	60,724,362
Long Term Investments	1,058,572
Intangible Assets	2,893,129
Long-term Assets Other	1,141,273
Long-term Assets (calculated)	65,817,336
+/-	1,660,821

Liabilities & Shareholders' Equity

Total Current Liabilities	4,675,042
Long-term Liabilities	50,010,471
Total Stockholder Equity	16,588,830

Total Current Liabilities

Total Current Liabilities (as reported)	4,675,042
Short-term Debt	-827,525
Accounts payable	444,042
Other Current Liabilities	4,231,000
Total Current Liabilities (calculated)	3,847,517
+/-	827,525

Long-term Liabilities

Long-term Liabilities (as reported)	50,010,471
Long term Debt	46,483,903
Capital Lease Obligations Min Short Term Debt	919,608
Long-term Liabilities Other	1,018,702
Long-term Liabilities (calculated)	48,422,213
+/-	1,588,258

Total Stockholder Equity

Total Stockholder Equity (as reported)	16,588,830
Common Stock	2,676
Retained Earnings	10,802,599
Accumulated Other Comprehensive Income	8,304
Other Stockholders Equity	5,775,251
Total Stockholder Equity (calculated)	16,588,830
+/-	0

Other

Capital Stock	2,676
Cash and Short Term Investments	1,825,466
Common Stock Shares Outstanding	205,969
Current Deferred Revenue	827,525
Liabilities and Stockholders Equity	71,274,559
Net Debt	44,750,520
Net Invested Capital	63,072,733
Net Working Capital	4,419,935
Property Plant and Equipment Gross	74,513,744
Short Long Term Debt Total	46,575,986

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

> Total Assets

0
0
0
3,061,233
0
0
3,551,347
3,922,992
4,030,054
4,411,287
4,253,206
4,394,227
4,594,650
5,217,726
5,269,507
5,410,826
5,410,826
6,130,827
6,417,628
6,769,501
8,709,529
9,098,359
9,338,580
9,600,607
9,789,055
9,571,037
9,553,384
9,107,632
9,255,899
9,289,079
9,133,814
8,581,418
8,649,373
8,972,557
9,286,867
9,446,201
9,499,487
43,938,330
43,865,284
43,891,098
44,083,750
44,056,479
43,202,087
43,914,479
43,717,710
42,922,807
41,797,800
41,620,453
41,442,898
41,019,489
41,006,730
42,040,144
42,493,720
42,019,387
42,149,536
43,208,915
44,716,954
43,067,924
43,549,014
43,749,244
47,144,828
45,193,774
44,421,118
42,048,039
42,064,963
41,824,093
41,499,328
74,569,768
70,208,185
69,747,591
69,811,154
69,726,918
69,684,403
69,928,407
71,593,664
71,274,559

71,274,559

71,593,664

69,928,407

69,684,403

69,726,918

69,811,154

69,747,591

70,208,185

74,569,768

41,499,328

41,824,093

42,064,963

42,048,039

44,421,118

45,193,774

47,144,828

43,749,244

43,549,014

43,067,924

44,716,954

43,208,915

42,149,536

42,019,387

42,493,720

42,040,144

41,006,730

41,019,489

41,442,898

41,620,453

41,797,800

42,922,807

43,717,710

43,914,479

43,202,087

44,056,479

44,083,750

43,891,098

43,865,284

43,938,330

9,499,487

9,446,201

9,286,867

8,972,557

8,649,373

8,581,418

9,133,814

9,289,079

9,255,899

9,107,632

9,553,384

9,571,037

9,789,055

9,600,607

9,338,580

9,098,359

8,709,529

6,769,501

6,417,628

6,130,827

5,410,826

5,269,507

5,217,726

4,594,650

4,394,227

4,253,206

4,411,287

4,030,054

3,922,992

3,551,347

3,061,233

> Total Current Assets

0
0
0
660,136
0
0
741,623
542,165
661,100
900,160
842,329
846,051
956,163
1,016,604
1,037,064
618,126
618,126
385,851
481,925
646,991
590,090
679,766
698,815
842,620
716,545
728,778
514,791
737,598
747,704
783,611
639,126
906,393
792,009
549,119
731,723
676,347
703,593
3,576,537
3,400,995
2,729,342
3,140,995
3,111,660
2,951,549
4,106,013
4,605,704
5,082,003
4,266,595
3,668,805
3,637,342
3,835,953
3,427,990
4,244,529
4,573,215
3,576,861
3,397,495
3,032,875
4,601,796
2,017,352
3,540,256
3,241,270
6,748,642
4,705,992
5,485,572
3,371,617
2,636,824
3,753,431
3,386,871
6,305,930
5,753,256
5,570,198
5,237,583
5,608,144
5,375,921
5,849,020
6,778,313
3,796,402

3,796,402

6,778,313

5,849,020

5,375,921

5,608,144

5,237,583

5,570,198

5,753,256

6,305,930

3,386,871

3,753,431

2,636,824

3,371,617

5,485,572

4,705,992

6,748,642

3,241,270

3,540,256

2,017,352

4,601,796

3,032,875

3,397,495

3,576,861

4,573,215

4,244,529

3,427,990

3,835,953

3,637,342

3,668,805

4,266,595

5,082,003

4,605,704

4,106,013

2,951,549

3,111,660

3,140,995

2,729,342

3,400,995

3,576,537

703,593

676,347

731,723

549,119

792,009

906,393

639,126

783,611

747,704

737,598

514,791

728,778

716,545

842,620

698,815

679,766

590,090

646,991

481,925

385,851

618,126

1,037,064

1,016,604

956,163

846,051

842,329

900,160

661,100

542,165

741,623

660,136

Cash And Cash Equivalents

0
0
0
183,554
0
0
215,325
131,201
140,103
250,124
271,997
241,736
197,170
175,870
176,444
193,563
193,563
218,423
203,377
182,617
225,908
260,256
285,763
404,450
322,450
344,061
274,337
411,081
424,694
474,251
309,654
520,401
375,417
156,929
318,098
295,514
320,136
1,731,435
1,744,294
1,490,369
1,594,018
1,568,345
1,301,492
2,403,098
2,929,232
2,584,552
2,228,019
2,035,447
1,935,630
1,601,080
1,454,233
1,659,669
2,152,165
1,598,502
1,175,969
1,204,018
2,348,132
782,884
1,036,919
1,121,396
4,693,872
2,382,655
3,244,433
1,248,772
1,447,514
1,402,918
1,311,234
1,728,794
1,185,702
1,229,008
1,098,542
1,597,147
1,089,046
1,153,922
2,415,297
1,825,466

1,825,466

2,415,297

1,153,922

1,089,046

1,597,147

1,098,542

1,229,008

1,185,702

1,728,794

1,311,234

1,402,918

1,447,514

1,248,772

3,244,433

2,382,655

4,693,872

1,121,396

1,036,919

782,884

2,348,132

1,204,018

1,175,969

1,598,502

2,152,165

1,659,669

1,454,233

1,601,080

1,935,630

2,035,447

2,228,019

2,584,552

2,929,232

2,403,098

1,301,492

1,568,345

1,594,018

1,490,369

1,744,294

1,731,435

320,136

295,514

318,098

156,929

375,417

520,401

309,654

474,251

424,694

411,081

274,337

344,061

322,450

404,450

285,763

260,256

225,908

182,617

203,377

218,423

193,563

176,444

175,870

197,170

241,736

271,997

250,124

140,103

131,201

215,325

183,554

Short-term Investments

0
0
0
157,730
0
0
0
112,277
99,459
178,116
60,814
95,072
127,150
183,808
167,843
113,397
144,954
128,184
121,067
140,746
214,485
246,462
233,954
222,464
210,134
191,026
210,631
237,325
303,652
290,835
310,309
279,843
288,293
247,374
275,244
272,787
266,993
798,909
673,307
717,388
333,985
379,509
384,657
419,447
398,222
422,774
424,998
329,180
359,221
309,264
331,964
364,456
299,965
259,971
232,800
0
0
0
0
0
0
0
0
0
0
0
0
0
0
96,299
205,536
211,993
175,711
220,597
244,463
0

244,463

220,597

175,711

211,993

205,536

96,299

232,800

259,971

299,965

364,456

331,964

309,264

359,221

329,180

424,998

422,774

398,222

419,447

384,657

379,509

333,985

717,388

673,307

798,909

266,993

272,787

275,244

247,374

288,293

279,843

310,309

290,835

303,652

237,325

210,631

191,026

210,134

222,464

233,954

246,462

214,485

140,746

121,067

128,184

144,954

113,397

167,843

183,808

127,150

95,072

60,814

178,116

99,459

112,277

157,730

Net Receivables

0
0
0
203,195
0
0
186,262
210,385
198,802
202,677
208,425
276,459
264,006
240,127
217,774
208,287
208,287
39,244
49,037
221,090
51,709
47,991
60,001
94,621
58,976
60,895
13,353
70,638
10,494
11,358
12,657
106,149
120,580
136,936
133,053
112,986
116,464
732,953
678,173
507,503
821,225
851,915
951,432
952,144
1,057,339
1,080,654
1,208,722
1,144,113
1,121,776
1,227,117
1,399,095
1,550,643
1,454,875
1,432,746
1,483,945
1,402,740
1,373,751
481,898
1,535,567
1,601,174
1,534,712
1,917,066
1,956,211
1,876,327
917,855
2,108,625
1,659,963
4,038,231
4,189,600
4,050,224
3,927,685
3,502,698
3,445,606
3,650,924
3,674,233
1,885,268

1,885,268

3,674,233

3,650,924

3,445,606

3,502,698

3,927,685

4,050,224

4,189,600

4,038,231

1,659,963

2,108,625

917,855

1,876,327

1,956,211

1,917,066

1,534,712

1,601,174

1,535,567

481,898

1,373,751

1,402,740

1,483,945

1,432,746

1,454,875

1,550,643

1,399,095

1,227,117

1,121,776

1,144,113

1,208,722

1,080,654

1,057,339

952,144

951,432

851,915

821,225

507,503

678,173

732,953

116,464

112,986

133,053

136,936

120,580

106,149

12,657

11,358

10,494

70,638

13,353

60,895

58,976

94,621

60,001

47,991

51,709

221,090

49,037

39,244

208,287

217,774

240,127

264,006

276,459

208,425

202,677

198,802

210,385

186,262

203,195

Other Current Assets

0
0
0
273,387
0
0
254,561
117,768
250,080
364,295
286,046
237,130
411,518
511,980
553,100
120,825
120,825
128,184
121,067
148,278
214,485
246,462
233,954
55,211
210,134
191,026
210,631
241,926
303,652
290,835
310,309
284,533
296,012
255,254
280,572
278,844
266,993
841,405
704,627
731,470
414,578
399,042
394,546
490,502
418,947
1,270,108
768,430
436,572
520,550
960,864
532,395
995,245
929,141
305,783
682,586
395,146
859,657
695,350
961,339
515,543
520,058
406,271
284,928
246,518
271,455
241,888
415,674
490,321
326,014
237,525
168,398
452,431
782,106
971,590
611,966
0

611,966

971,590

782,106

452,431

168,398

237,525

326,014

490,321

415,674

241,888

271,455

246,518

284,928

406,271

520,058

515,543

961,339

695,350

859,657

395,146

682,586

305,783

929,141

995,245

532,395

960,864

520,550

436,572

768,430

1,270,108

418,947

490,502

394,546

399,042

414,578

731,470

704,627

841,405

266,993

278,844

280,572

255,254

296,012

284,533

310,309

290,835

303,652

241,926

210,631

191,026

210,134

55,211

233,954

246,462

214,485

148,278

121,067

128,184

120,825

553,100

511,980

411,518

237,130

286,046

364,295

250,080

117,768

254,561

273,387

> Long-term Assets

0
0
0
2,401,097
0
0
2,809,724
3,380,827
3,368,954
3,511,127
3,410,877
3,548,176
3,638,487
4,201,122
4,232,443
4,792,700
4,792,700
5,744,976
5,935,703
6,122,510
8,119,439
8,418,593
8,639,765
8,757,987
9,072,510
8,842,259
9,038,593
8,370,035
8,508,195
8,505,468
8,494,688
7,675,025
7,857,364
8,423,438
8,555,144
8,769,854
8,795,894
40,361,793
40,464,289
41,161,756
40,942,755
40,944,819
40,250,538
39,808,466
39,112,006
37,840,804
37,531,205
37,951,648
37,805,556
37,183,536
37,578,740
37,795,615
37,920,505
38,442,526
38,752,041
40,176,039
40,115,158
41,050,572
40,008,758
40,507,974
40,396,186
40,487,782
38,935,546
38,676,422
39,428,139
38,070,662
38,112,457
68,263,838
64,454,929
64,177,393
64,573,571
64,118,774
64,308,482
64,079,387
64,815,351
67,478,157

67,478,157

64,815,351

64,079,387

64,308,482

64,118,774

64,573,571

64,177,393

64,454,929

68,263,838

38,112,457

38,070,662

39,428,139

38,676,422

38,935,546

40,487,782

40,396,186

40,507,974

40,008,758

41,050,572

40,115,158

40,176,039

38,752,041

38,442,526

37,920,505

37,795,615

37,578,740

37,183,536

37,805,556

37,951,648

37,531,205

37,840,804

39,112,006

39,808,466

40,250,538

40,944,819

40,942,755

41,161,756

40,464,289

40,361,793

8,795,894

8,769,854

8,555,144

8,423,438

7,857,364

7,675,025

8,494,688

8,505,468

8,508,195

8,370,035

9,038,593

8,842,259

9,072,510

8,757,987

8,639,765

8,418,593

8,119,439

6,122,510

5,935,703

5,744,976

4,792,700

4,232,443

4,201,122

3,638,487

3,548,176

3,410,877

3,511,127

3,368,954

3,380,827

2,809,724

2,401,097

Property Plant Equipment

0
0
0
2,189,267
0
0
2,542,119
3,145,846
3,076,815
3,188,151
2,927,257
3,311,123
3,331,101
3,813,768
3,837,339
4,438,574
4,438,574
4,493,793
5,394,251
5,758,103
7,198,401
7,635,187
7,974,109
8,260,677
8,366,553
8,184,762
7,936,045
7,995,295
7,974,747
8,027,488
8,045,708
7,315,493
7,520,773
8,061,373
8,202,436
8,309,762
8,329,607
35,058,596
35,287,934
35,478,212
36,011,620
36,183,689
35,702,391
35,540,765
35,313,660
34,255,995
34,194,408
34,804,379
34,811,137
34,400,359
34,942,197
35,358,244
35,554,408
36,139,677
36,531,935
38,106,006
38,143,976
38,291,271
38,234,787
38,894,945
38,847,365
38,792,453
37,509,883
37,331,224
57,863
36,668,898
36,337,994
62,533,136
59,226,287
59,062,775
59,466,982
59,109,363
59,509,482
59,373,278
60,181,387
60,724,362

60,724,362

60,181,387

59,373,278

59,509,482

59,109,363

59,466,982

59,062,775

59,226,287

62,533,136

36,337,994

36,668,898

57,863

37,331,224

37,509,883

38,792,453

38,847,365

38,894,945

38,234,787

38,291,271

38,143,976

38,106,006

36,531,935

36,139,677

35,554,408

35,358,244

34,942,197

34,400,359

34,811,137

34,804,379

34,194,408

34,255,995

35,313,660

35,540,765

35,702,391

36,183,689

36,011,620

35,478,212

35,287,934

35,058,596

8,329,607

8,309,762

8,202,436

8,061,373

7,520,773

7,315,493

8,045,708

8,027,488

7,974,747

7,995,295

7,936,045

8,184,762

8,366,553

8,260,677

7,974,109

7,635,187

7,198,401

5,758,103

5,394,251

4,493,793

4,438,574

3,837,339

3,813,768

3,331,101

3,311,123

2,927,257

3,188,151

3,076,815

3,145,846

2,542,119

2,189,267

Goodwill

0
0
0
0
0
0
37,225
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
6,776
7
0
27,000
24,000
21,000
18,000
15,000
13,000
12,000
9,000
8,000
4,719,034
4,263,076
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
58,094
912,896
874,548
0
0
0
0
0
0
0
0
0
0
0
0

874,548

912,896

58,094

4,263,076

4,719,034

8,000

9,000

12,000

13,000

15,000

18,000

21,000

24,000

27,000

6,776

37,225

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
112,380
0
0
0
115,554
0
0
0
114,711
0
117,000
115,071
118,783
121,921
121,030
121,944
122,946
126,591
127,891
130,536
132,113
1,128,299
1,138,200
1,162,488
1,134,828
1,103,465
326,538
194,313
138,065
128,148
129,512
167,132
750,341
753,850
757,499
820,479
873,738
914,241
968,471
1,011,224
1,058,572

1,058,572

1,011,224

968,471

914,241

873,738

820,479

757,499

753,850

750,341

167,132

129,512

128,148

138,065

194,313

326,538

1,103,465

1,134,828

1,162,488

1,138,200

1,128,299

132,113

130,536

127,891

126,591

122,946

121,944

121,030

121,921

118,783

115,071

117,000

114,711

115,554

112,380

Intangible Assets

0
0
0
38,571
0
0
30,455
34,229
49,080
46,100
43,161
41,855
45,427
54,788
50,888
47,099
47,099
37,893
34,602
31,399
80,177
70,498
64,568
58,637
53,364
48,809
34,232
29,678
26,700
23,825
20,950
18,100
15,497
13,487
11,566
9,354
7,746
4,719,034
4,676,042
4,428,346
4,261,009
4,060,979
3,847,785
3,541,957
3,246,109
3,013,094
2,774,749
2,506,932
2,357,851
2,147,554
1,978,654
1,799,276
1,676,811
1,559,175
1,470,459
1,383,666
1,323,272
1,218,095
1,171,947
1,058,915
1,018,045
973,449
912,896
874,548
849,973
828,217
802,254
4,653,399
4,118,287
3,974,113
3,800,675
3,549,663
3,334,938
3,151,893
3,021,028
2,893,129

2,893,129

3,021,028

3,151,893

3,334,938

3,549,663

3,800,675

3,974,113

4,118,287

4,653,399

802,254

828,217

849,973

874,548

912,896

973,449

1,018,045

1,058,915

1,171,947

1,218,095

1,323,272

1,383,666

1,470,459

1,559,175

1,676,811

1,799,276

1,978,654

2,147,554

2,357,851

2,506,932

2,774,749

3,013,094

3,246,109

3,541,957

3,847,785

4,060,979

4,261,009

4,428,346

4,676,042

4,719,034

7,746

9,354

11,566

13,487

15,497

18,100

20,950

23,825

26,700

29,678

34,232

48,809

53,364

58,637

64,568

70,498

80,177

31,399

34,602

37,893

47,099

50,888

54,788

45,427

41,855

43,161

46,100

49,080

34,229

30,455

38,571

Other Assets

0
0
0
195,847
0
0
267,605
234,982
292,139
480,957
483,620
373,188
359,243
435,744
393,774
273,862
344,126
291,732
288,044
299,080
367,863
414,300
370,069
440,170
472,703
458,711
951,427
-1
364,717
346,843
338,374
335,033
336,591
362,065
352,708
424,385
438,102
5,329,597
5,193,657
5,133,405
5,067,109
4,818,946
4,598,107
4,423,870
3,916,540
4,527,054
3,791,671
3,365,851
3,264,555
3,549,125
2,935,479
3,174,815
35,720,667
36,311,112
36,688,303
1
1,002,575
846,301
1,113,767
38,946,729
38,908,325
38,852,489
37,567,774
37,420,363
37,150,393
36,883,235
36,458,412
611,892
59,255,924
59,076,141
59,453,637
662,765
996,868
1,177,811
813,374
0

813,374

1,177,811

996,868

662,765

59,453,637

59,076,141

59,255,924

611,892

36,458,412

36,883,235

37,150,393

37,420,363

37,567,774

38,852,489

38,908,325

38,946,729

1,113,767

846,301

1,002,575

36,688,303

36,311,112

35,720,667

3,174,815

2,935,479

3,549,125

3,264,555

3,365,851

3,791,671

4,527,054

3,916,540

4,423,870

4,598,107

4,818,946

5,067,109

5,133,405

5,193,657

5,329,597

438,102

424,385

352,708

362,065

336,591

335,033

338,374

346,843

364,717

-1

951,427

458,711

472,703

440,170

370,069

414,300

367,863

299,080

288,044

291,732

344,126

273,862

393,774

435,744

359,243

373,188

483,620

480,957

292,139

234,982

267,605

195,847

> Total Liabilities

0
0
0
2,641,570
0
0
2,979,558
3,161,144
3,184,554
3,521,921
3,313,089
3,413,072
3,561,185
4,111,850
4,111,622
4,284,771
4,284,771
4,835,768
5,082,873
5,356,169
6,849,744
7,176,905
7,358,060
7,383,210
7,496,374
7,254,815
7,308,466
6,824,315
6,907,433
6,974,266
6,915,755
6,458,511
6,455,357
6,698,352
6,924,942
7,016,969
7,013,471
36,664,652
36,220,729
35,948,550
35,815,111
36,234,139
35,065,799
35,488,670
35,258,454
34,507,980
33,370,773
33,038,189
32,865,915
32,442,242
32,404,135
33,401,330
33,845,441
33,295,571
33,225,944
34,328,301
35,747,173
33,989,749
34,309,023
34,367,039
37,692,842
35,490,711
35,541,629
33,115,553
32,857,729
32,372,594
31,569,374
57,922,408
55,478,407
54,636,240
54,166,636
53,531,868
53,560,780
53,537,899
55,221,543
54,685,513

54,685,513

55,221,543

53,537,899

53,560,780

53,531,868

54,166,636

54,636,240

55,478,407

57,922,408

31,569,374

32,372,594

32,857,729

33,115,553

35,541,629

35,490,711

37,692,842

34,367,039

34,309,023

33,989,749

35,747,173

34,328,301

33,225,944

33,295,571

33,845,441

33,401,330

32,404,135

32,442,242

32,865,915

33,038,189

33,370,773

34,507,980

35,258,454

35,488,670

35,065,799

36,234,139

35,815,111

35,948,550

36,220,729

36,664,652

7,013,471

7,016,969

6,924,942

6,698,352

6,455,357

6,458,511

6,915,755

6,974,266

6,907,433

6,824,315

7,308,466

7,254,815

7,496,374

7,383,210

7,358,060

7,176,905

6,849,744

5,356,169

5,082,873

4,835,768

4,284,771

4,111,622

4,111,850

3,561,185

3,413,072

3,313,089

3,521,921

3,184,554

3,161,144

2,979,558

2,641,570

> Total Current Liabilities

0
0
0
404,102
0
0
411,393
489,524
368,768
462,677
444,879
415,721
427,526
439,698
410,515
180,488
180,488
311,722
309,940
147,605
472,339
492,181
516,126
210,423
668,111
541,368
506,947
565,073
663,134
581,458
618,423
132,237
549,498
559,009
574,469
152,049
647,323
4,274,910
4,285,076
1,203,002
4,281,360
4,248,767
4,376,290
4,377,592
4,122,784
4,011,280
3,964,032
3,831,308
3,816,771
3,714,843
3,596,361
3,476,901
3,414,460
3,204,782
3,244,070
3,215,846
3,252,546
3,150,248
3,159,781
3,074,572
3,016,202
2,917,524
2,739,982
2,642,994
2,534,876
2,525,323
2,372,958
4,613,955
3,825,519
3,938,680
3,992,576
3,862,940
4,011,587
1,372,037
1,526,381
4,675,042

4,675,042

1,526,381

1,372,037

4,011,587

3,862,940

3,992,576

3,938,680

3,825,519

4,613,955

2,372,958

2,525,323

2,534,876

2,642,994

2,739,982

2,917,524

3,016,202

3,074,572

3,159,781

3,150,248

3,252,546

3,215,846

3,244,070

3,204,782

3,414,460

3,476,901

3,596,361

3,714,843

3,816,771

3,831,308

3,964,032

4,011,280

4,122,784

4,377,592

4,376,290

4,248,767

4,281,360

1,203,002

4,285,076

4,274,910

647,323

152,049

574,469

559,009

549,498

132,237

618,423

581,458

663,134

565,073

506,947

541,368

668,111

210,423

516,126

492,181

472,339

147,605

309,940

311,722

180,488

410,515

439,698

427,526

415,721

444,879

462,677

368,768

489,524

411,393

404,102

Short-term Debt

0
0
0
226,884
0
0
268,901
0
2,555
0
0
348,217
0
336,083
335,484
-169,543
-169,543
3,790,487
3,580,002
-23,331
3,900
4,846,664
4,336,966
-397,263
120,689
6,566
6,393,867
410,093
104,263
6,111
86,268
86,268
5,803
6,224,987
92,660
92,660
6,204,408
3,615,404
-24,339,842
-527,281
3,079,120
3,095,333
3,235,252
3,138,393
2,978,380
2,900,129
2,870,041
2,698,772
2,668,411
2,668,582
2,563,134
1,632,057
29,943,105
1,458,051
1,465,664
4,137,981
54,994
4,873
116,304
1,000,000
0
0
0
0
0
0
39,991
173,595
0
0
0
0
0
-2,881,042
-3,096,654
-827,525

-827,525

-3,096,654

-2,881,042

173,595

39,991

1,000,000

116,304

4,873

54,994

4,137,981

1,465,664

1,458,051

29,943,105

1,632,057

2,563,134

2,668,582

2,668,411

2,698,772

2,870,041

2,900,129

2,978,380

3,138,393

3,235,252

3,095,333

3,079,120

-527,281

-24,339,842

3,615,404

6,204,408

92,660

6,224,987

5,803

86,268

6,111

104,263

410,093

6,393,867

6,566

120,689

-397,263

4,336,966

4,846,664

3,900

-23,331

3,580,002

3,790,487

-169,543

335,484

336,083

348,217

2,555

268,901

226,884

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
6,244,125
0
0
0
2,208
0
0
0
21
0
29,144,000
28,001,132
27,716,999
27,520,896
27,184,156
1,428
3,177,358
53
502
0
4,137,981
54,994
103,778
116,304
97,066
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

97,066

116,304

103,778

54,994

4,137,981

502

3,177,358

1,428

27,184,156

27,520,896

27,716,999

28,001,132

29,144,000

2,208

6,244,125

Accounts payable

0
0
0
2,575
0
0
3,571
6,958
7,222
9,453
6,693
16,376
9,246
7,023
137
7,510
7,510
28,290
16,004
11,832
19,986
25,724
17,516
16,045
18,684
20,827
5,931
4,142
674
1,332
406
739
815
871
821
829
5,253
361,194
302,462
1,203,002
640,727
631,304
614,356
728,631
642,348
588,960
572,123
617,642
599,424
543,313
581,041
562,256
602,093
553,729
565,685
556,810
585,557
500,615
475,420
494,455
503,991
466,184
448,808
492,779
243,723
570,876
459,720
1,202,589
1,113,555
1,084,680
1,066,497
812,076
930,030
789,223
806,031
444,042

444,042

806,031

789,223

930,030

812,076

1,066,497

1,084,680

1,113,555

1,202,589

459,720

570,876

243,723

492,779

448,808

466,184

503,991

494,455

475,420

500,615

585,557

556,810

565,685

553,729

602,093

562,256

581,041

543,313

599,424

617,642

572,123

588,960

642,348

728,631

614,356

631,304

640,727

1,203,002

302,462

361,194

5,253

829

821

871

815

739

406

1,332

674

4,142

5,931

20,827

18,684

16,045

17,516

25,724

19,986

11,832

16,004

28,290

7,510

137

7,023

9,246

16,376

6,693

9,453

7,222

6,958

3,571

2,575

Other Current Liabilities

0
0
0
152,634
0
0
112,300
454,175
332,481
421,764
407,848
17,554
382,617
56,550
36,378
307,599
307,599
283,432
293,936
126,093
452,353
466,457
498,610
531,580
528,738
520,541
501,016
102,844
17,155
580,126
618,017
5,683
508,066
515,434
527,639
10,862
594,431
5,739
3,637,198
135,708
134,100
102,638
79,880
47,401
49,251
53,113
53,164
51,804
57,989
23,998
5,050
829,742
2,368,361
794,740
804,467
2,237,494
2,261,049
2,242,753
2,281,224
1,190,159
2,149,884
1,930,874
1,828,246
1,750,395
0
1,648,197
1,596,414
2,727,056
2,241,084
2,315,468
2,405,995
2,503,202
2,487,969
2,881,042
3,096,654
4,231,000

4,231,000

3,096,654

2,881,042

2,487,969

2,503,202

2,405,995

2,315,468

2,241,084

2,727,056

1,596,414

1,648,197

1,750,395

1,828,246

1,930,874

2,149,884

1,190,159

2,281,224

2,242,753

2,261,049

2,237,494

804,467

794,740

2,368,361

829,742

5,050

23,998

57,989

51,804

53,164

53,113

49,251

47,401

79,880

102,638

134,100

135,708

3,637,198

5,739

594,431

10,862

527,639

515,434

508,066

5,683

618,017

580,126

17,155

102,844

501,016

520,541

528,738

531,580

498,610

466,457

452,353

126,093

293,936

283,432

307,599

36,378

56,550

382,617

17,554

407,848

421,764

332,481

454,175

112,300

152,634

> Long-term Liabilities

0
0
0
2,237,468
0
0
2,568,165
2,671,620
2,815,786
3,059,244
2,868,210
2,997,351
3,133,659
3,672,152
3,701,107
4,104,283
4,104,283
4,524,046
4,772,933
5,208,564
6,377,405
6,684,724
6,841,934
7,172,787
6,828,263
6,713,447
6,801,519
6,259,242
6,244,299
6,392,808
6,297,332
6,326,274
5,905,859
6,139,343
6,350,473
6,864,920
6,366,148
32,389,742
31,935,653
34,745,548
31,533,751
31,985,372
30,689,509
31,111,078
31,135,670
30,496,700
29,406,741
29,206,881
29,049,144
28,727,399
28,807,774
29,924,429
30,430,981
30,090,789
29,981,874
31,112,455
32,494,627
30,839,501
31,149,242
31,292,467
34,676,640
32,573,187
32,801,647
30,472,559
30,322,853
29,847,271
29,196,416
53,308,453
51,652,888
50,697,560
50,174,060
49,668,928
49,549,193
52,165,862
53,695,162
50,010,471

50,010,471

53,695,162

52,165,862

49,549,193

49,668,928

50,174,060

50,697,560

51,652,888

53,308,453

29,196,416

29,847,271

30,322,853

30,472,559

32,801,647

32,573,187

34,676,640

31,292,467

31,149,242

30,839,501

32,494,627

31,112,455

29,981,874

30,090,789

30,430,981

29,924,429

28,807,774

28,727,399

29,049,144

29,206,881

29,406,741

30,496,700

31,135,670

31,111,078

30,689,509

31,985,372

31,533,751

34,745,548

31,935,653

32,389,742

6,366,148

6,864,920

6,350,473

6,139,343

5,905,859

6,326,274

6,297,332

6,392,808

6,244,299

6,259,242

6,801,519

6,713,447

6,828,263

7,172,787

6,841,934

6,684,724

6,377,405

5,208,564

4,772,933

4,524,046

4,104,283

3,701,107

3,672,152

3,133,659

2,997,351

2,868,210

3,059,244

2,815,786

2,671,620

2,568,165

2,237,468

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
29,507,587
30,750,116
29,014,193
29,279,957
29,474,454
32,760,773
30,683,892
31,087,112
28,742,081
28,553,115
28,098,620
27,539,694
50,204,678
48,912,874
47,927,887
47,350,115
46,532,960
46,295,924
46,255,843
47,492,809
0

47,492,809

46,255,843

46,295,924

46,532,960

47,350,115

47,927,887

48,912,874

50,204,678

27,539,694

28,098,620

28,553,115

28,742,081

31,087,112

30,683,892

32,760,773

29,474,454

29,279,957

29,014,193

30,750,116

29,507,587

Other Liabilities

0
0
0
119,974
0
0
471,225
141,489
172,484
181,121
192,664
306,663
212,154
240,057
260,573
179,175
179,971
180,249
232,878
185,524
296,573
302,802
293,809
269,422
235,199
208,196
613,935
196,071
188,963
184,233
182,052
155,919
152,910
158,115
164,933
161,050
155,776
1,218,998
1,272,583
1,375,613
1,415,760
1,386,591
1,433,140
1,402,022
1,378,344
1,395,215
1,403,505
1,373,993
1,404,301
1,369,434
1,281,338
1,282,588
1,984,647
1,943,036
2,002,660
1,997,089
2,029,627
2,068,492
2,101,210
2,048,084
2,036,475
2,160,678
1,941,628
1,913,572
1,896,934
1,889,608
1,828,926
3,369,698
3,020,568
3,141,495
3,220,098
3,548,415
3,698,579
3,210,431
4,110,220
0

4,110,220

3,210,431

3,698,579

3,548,415

3,220,098

3,141,495

3,020,568

3,369,698

1,828,926

1,889,608

1,896,934

1,913,572

1,941,628

2,160,678

2,036,475

2,048,084

2,101,210

2,068,492

2,029,627

1,997,089

2,002,660

1,943,036

1,984,647

1,282,588

1,281,338

1,369,434

1,404,301

1,373,993

1,403,505

1,395,215

1,378,344

1,402,022

1,433,140

1,386,591

1,415,760

1,375,613

1,272,583

1,218,998

155,776

161,050

164,933

158,115

152,910

155,919

182,052

184,233

188,963

196,071

613,935

208,196

235,199

269,422

293,809

302,802

296,573

185,524

232,878

180,249

179,971

179,175

260,573

240,057

212,154

306,663

192,664

181,121

172,484

141,489

471,225

119,974

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
148,315
0
0
0
203,965
0
0
0
45,524
0
39,000
34,381
33,700
36,017
33,810
38,574
43,241
48,824
53,402
40,718
36,814
33,664
27,250
23,321
26,393
22,724
19,095
16,360
20,722
207,431
144,414
52,822
30,065
33,869
30,751
27,562
0
0
0
0
0

27,562

30,751

33,869

30,065

52,822

144,414

207,431

20,722

16,360

19,095

22,724

26,393

23,321

27,250

33,664

36,814

40,718

53,402

48,824

43,241

38,574

33,810

36,017

33,700

34,381

39,000

45,524

203,965

148,315

> Total Stockholder Equity

0
0
0
419,663
0
0
539,769
729,911
813,815
856,033
907,882
950,373
1,002,886
1,073,266
1,126,560
1,109,037
1,109,037
1,177,882
1,213,844
1,258,009
1,665,614
1,717,219
1,768,726
2,211,350
2,286,194
2,310,360
2,238,909
2,277,236
2,342,958
2,310,606
2,215,120
2,122,039
2,193,034
2,272,453
2,358,302
2,425,372
2,483,164
7,194,613
7,564,190
7,863,777
8,192,083
7,746,243
8,059,825
8,348,963
8,392,850
8,351,710
8,369,518
8,524,447
8,519,654
8,520,758
8,546,475
8,579,710
8,592,625
8,669,467
8,869,852
8,828,048
8,906,178
9,013,009
9,174,916
9,314,897
9,382,926
9,633,977
8,811,373
8,864,470
9,139,325
9,383,537
9,854,952
16,570,743
14,653,130
15,034,429
15,567,684
16,117,507
16,045,416
16,311,872
16,293,654
16,588,830

16,588,830

16,293,654

16,311,872

16,045,416

16,117,507

15,567,684

15,034,429

14,653,130

16,570,743

9,854,952

9,383,537

9,139,325

8,864,470

8,811,373

9,633,977

9,382,926

9,314,897

9,174,916

9,013,009

8,906,178

8,828,048

8,869,852

8,669,467

8,592,625

8,579,710

8,546,475

8,520,758

8,519,654

8,524,447

8,369,518

8,351,710

8,392,850

8,348,963

8,059,825

7,746,243

8,192,083

7,863,777

7,564,190

7,194,613

2,483,164

2,425,372

2,358,302

2,272,453

2,193,034

2,122,039

2,215,120

2,310,606

2,342,958

2,277,236

2,238,909

2,310,360

2,286,194

2,211,350

1,768,726

1,717,219

1,665,614

1,258,009

1,213,844

1,177,882

1,109,037

1,126,560

1,073,266

1,002,886

950,373

907,882

856,033

813,815

729,911

539,769

419,663

Common Stock

0
0
0
370,000
0
0
384,964
699
699
699
699
699
699
699
699
699
699
699
699
699
1,163
1,163
1,163
1,570
1,570
1,570
1,570
1,570
1,570
1,570
1,278
1,193
1,193
1,196
1,197
1,199
1,199
2,559
2,559
2,559
2,562
2,568
2,568
2,457
2,408
2,380
2,282
2,282
2,229
2,174
2,117
2,058
1,923
1,923
1,923
1,866
1,866
1,810
1,810
1,754
1,721
1,721
1,721
1,721
1,721
1,721
1,721
3,024
3,024
3,024
3,024
3,024
3,024
3,024
2,876
2,676

2,676

2,876

3,024

1,721

1,754

1,810

1,866

1,923

2,058

2,117

2,174

2,229

2,282

2,380

2,408

2,457

2,568

2,562

2,559

1,199

1,197

1,196

1,193

1,278

1,570

1,163

699

384,964

370,000

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
0
0
0
0
0
381,264
0
0
0
0
0
0
-292,000
-327,000
-327,000
0
-454,000
-502,000
2,516,000
-622,000
-672,000
-470
5,005
5,818
-1,292
-8,351
-8,513
-9,266
-10,411
-10,927
-14,401
-12,945
-10,052
-10,124
-9,890
-9,056
-5,462
-5,526
-6,895
-6,726
-6,585
-6,539
-6,307
-7,926
-10,923
-9,131
-1,769
-294
-3,066
-347
14,274
35,995
42,585
52,415
-1,824
-37,470
-95,900
-108,139
-93,587
-174,581
-180,146
-168,946
-155,085
-133,633
-117,713
-101,972
-79,335
-25,687
2,926
75,379
108,226
78,439
132,624
160,013
8,304

8,304

160,013

132,624

78,439

108,226

75,379

2,926

-25,687

-79,335

-101,972

-117,713

-133,633

-155,085

-168,946

-180,146

-174,581

-93,587

-108,139

-95,900

-37,470

-1,824

52,415

42,585

35,995

14,274

-347

-3,066

-294

-1,769

-9,131

-10,923

-7,926

-6,307

-6,539

-6,585

-6,726

-6,895

-5,526

-5,462

-9,056

-9,890

-10,124

-10,052

-12,945

-14,401

-10,927

-10,411

-9,266

-8,513

-8,351

-1,292

5,818

5,005

-470

-672,000

-622,000

2,516,000

-502,000

-454,000

-327,000

-292,000

381,264

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
2,712,417
2,728,071
2,444,458
2,448,236
2,209,462
2,067,647
2,076,149
2,089,932
2,078,125
2,088,760
1,924,771
1,946,529
8,522,694
8,541,022
8,546,331
8,566,064
8,586,034
8,590,697
8,604,293
7,786,722
0

7,786,722

8,604,293

8,590,697

8,586,034

8,566,064

8,546,331

8,541,022

8,522,694

1,946,529

1,924,771

2,088,760

2,078,125

2,089,932

2,076,149

2,067,647

2,209,462

2,448,236

2,444,458

2,728,071

2,712,417

Treasury Stock

-285,901

-313,907

-313,952

-443,228

-459,994

-168,946

-496,217

-498,003

-537,341

-591,085

-494,545

-611,601

-476,085

-518,192

-434,457

-491,291

-731,442

-695,252

-654,021

-579,841

-490,092

-257,872

-352,629

-155,573

-146,312

-755,118

-761,228

-2

-1,300

-162,719

-100,000

-60,632

-1,449

Other Stockholders Equity

0
0
0
0
0
0
-381,264
591,553
593,999
601,850
605,093
602,469
604,105
605,889
607,852
609,327
609,327
591,623
592,133
593,133
965,875
968,625
968,724
1,333,025
1,334,967
1,335,401
1,278,104
1,240,205
1,241,670
1,180,882
1,028,293
927,617
929,707
930,541
932,813
934,024
936,271
5,507,591
5,533,161
5,557,627
5,574,266
4,819,170
4,843,394
4,880,681
4,707,415
4,436,027
4,229,398
4,014,927
3,750,338
3,474,399
3,231,585
2,983,121
2,708,163
2,528,986
2,455,833
2,236,332
2,116,470
1,949,913
1,857,151
1,672,121
1,569,644
1,579,932
1,597,899
1,618,131
11,599,688
1,610,819
1,632,622
8,236,793
8,267,702
8,286,685
8,308,278
8,331,335
7,859,180
7,578,219
6,427,506
5,775,251

5,775,251

6,427,506

7,578,219

7,859,180

8,331,335

8,308,278

8,286,685

8,267,702

8,236,793

1,632,622

1,610,819

11,599,688

1,618,131

1,597,899

1,579,932

1,569,644

1,672,121

1,857,151

1,949,913

2,116,470

2,236,332

2,455,833

2,528,986

2,708,163

2,983,121

3,231,585

3,474,399

3,750,338

4,014,927

4,229,398

4,436,027

4,707,415

4,880,681

4,843,394

4,819,170

5,574,266

5,557,627

5,533,161

5,507,591

936,271

934,024

932,813

930,541

929,707

927,617

1,028,293

1,180,882

1,241,670

1,240,205

1,278,104

1,335,401

1,334,967

1,333,025

968,724

968,625

965,875

593,133

592,133

591,623

609,327

607,852

605,889

604,105

602,469

605,093

601,850

593,999

591,553

-381,264

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
Accounts Payable	444,042	812,076	1,202,589	492,779	494,455	556,810	562,256	617,642	728,631	1,203,002	829	739	4,142	16,045	11,832	7,510	16,376	6,958	2,575	6,856	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
Accumulated Depreciation	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	8,304	108,226	-79,335	-155,085	-93,587	-1,824	14,274	-1,769	-6,307	-6,895	-9,890	-14,401	-8,513	5,005	-542,000	-362,000	-226,000	0	0	-181	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
Capital Lease Obligations	92,083	135,215	173,595	49,423	51,144	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	2,676	3,024	3,024	1,721	1,754	1,866	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	8,586,034	8,522,694	2,078,125	2,209,462	2,712,417	3,714,563	4,505,019	5,026,993	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	1,825,466	1,597,147	1,728,794	1,248,772	1,121,396	1,204,018	1,659,669	2,035,447	2,403,098	1,490,369	295,514	520,401	411,081	404,450	182,617	193,563	241,736	131,201	183,554	143,640	131,268	86,121
Cash And Equivalents	0	1,597,147	1,728,794	1,248,772	1,121,396	1,204,018	1,659,669	2,035,447	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	1,825,466	1,597,147	1,728,794	1,248,772	1,121,396	1,204,018	1,659,669	2,035,447	2,403,098	1,490,369	295,514	520,401	411,081	404,450	182,617	193,563	241,736	131,201	183,554	143,640	131,268	86,121
Common Stock	2,676	3,024	3,024	1,721	1,754	1,866	2,058	2,282	2,457	2,559	1,199	1,193	1,570	1,570	699	699	699	699	370,000	333,780	0	0
Common Stock Shares Outstanding	227,656	240,487	149,006	127,744	135,898	148,706	167,288	189,682	206,224	178,685	115,002	131,492	146,588	114,953	85,037	85,037	85,037	78,982	78,973	736	736	736
Common Stock Total Equity	0	0	0	1,721	1,754	1,866	2,058	2,282	2,457	3,000	1,000	1,000	2,000	2,000	1,000	1,000	1,000	1,000	370,000	333,780	0	0
Current Deferred Revenue	827,525	547,662	510,715	399,820	389,958	421,542	452,846	463,090	463,167	391,573	47,698	39,547	47,994	60,061	33,011	34,922	33,574	28,391	22,009	26,082	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
Deferred Long Term Liab	0	0	30,065	20,722	26,393	36,814	43,241	33,700	45,524	203,965	148,315	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
Good Will	0	0	0	874,548	58,094	58,094	58,094	58,094	58,094	58,094	9,000	18,000	30,000	6,776	6,776	6,776	6,776	6,776	38,571	0	0	0
Intangible Assets	2,893,129	3,549,663	4,653,399	874,548	1,058,915	1,383,666	1,799,276	2,506,932	3,541,957	4,428,346	9,354	18,100	29,677	58,637	31,399	47,099	41,855	34,229	38,571	0	0	0
Inventory	85,668	55,868	48,584	-3,303	3,157	30,971	38,972	52,673	260,269	315,532	-10,997	-4,690	13,953	121,085	102,538	102,879	90,726	82,811	0	0	0	0
Liabilities And Stockholders Equity	71,274,559	69,726,918	74,569,768	42,048,039	43,749,244	43,208,915	42,040,144	41,620,453	43,914,479	43,891,098	9,446,201	8,581,418	9,107,632	9,600,607	6,769,501	5,410,826	4,394,227	3,922,992	3,061,233	3,614,950	3,477,428	4,502,077
Long Term Debt	46,483,903	46,395,800	50,064,215	28,631,380	29,349,903	29,507,587	28,420,739	27,716,999	29,641,863	26,807,497	5,449,870	5,082,359	5,310,304	5,831,015	3,832,549	3,238,459	2,475,331	2,164,194	1,989,965	0	0	0
Long Term Debt Total	0	46,532,960	50,204,678	28,742,081	29,474,454	29,507,587	28,420,739	27,716,999	29,641,863	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	1,058,572	873,738	750,341	138,065	1,134,828	1,135,398	1,118,635	874,665	114,711	115,554	112,380	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
Net Debt	44,750,520	45,071,028	48,649,479	27,542,732	28,415,879	28,303,569	26,761,070	25,681,552	27,403,745	28,912,023	5,941,378	5,283,098	5,700,084	6,161,713	4,664,047	3,596,924	2,651,008	2,423,938	1,989,441	2,971,852	2,632,398	3,485,057
Net Invested Capital	63,072,733	62,650,467	66,775,421	37,606,551	38,801,028	38,335,635	37,000,449	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	1,885,268	3,502,698	4,038,231	1,876,327	1,601,174	1,402,740	1,550,643	1,144,113	952,144	507,503	112,986	106,149	16,063	94,621	221,090	208,287	276,459	210,385	203,195	256,600	0	0
Net Tangible Assets	0	12,404,161	11,758,927	7,812,894	7,958,281	7,134,327	6,508,656	5,782,293	4,586,635	3,317,981	2,416,018	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	4,419,935	1,745,204	1,518,380	124,451	-553,336	-844,507	118,130	-162,503	-271,579	1,526,340	524,298	774,156	147,240	632,197	499,386	437,638	430,330	52,641	256,034	326,584	0	0
Non Current Assets Total	67,478,157	64,118,774	68,263,838	38,676,422	40,507,974	40,176,039	37,795,615	37,951,648	39,808,466	41,161,756	8,769,854	7,675,025	8,429,210	8,757,987	6,122,510	4,792,700	3,548,176	3,380,827	2,401,097	2,961,086	2,484,850	3,476,501
Non Current Liabilities Other	1,018,702	806,655	773,753	600,321	747,790	770,949	829,742	910,903	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	50,010,471	49,668,928	53,308,453	30,472,559	31,292,467	31,112,455	29,924,429	29,206,881	31,111,078	34,745,548	6,864,920	6,326,274	6,293,133	7,172,787	5,208,564	4,104,283	2,997,351	2,671,620	2,237,468	3,260,655	3,344,868	4,406,433
Non Currrent Assets Other	1,141,273	375,676	205,391	201,053	277,664	357,880	305,821	248,015	391,746	720,951	216,695	167,844	303,228	264,352	225,103	199,102	91,491	74,499	73,913	189,836	-2,484,850	-3,476,501
Noncontrolling Interest In Consolidated Entity	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	662,765	611,892	37,420,363	43,441,850	1	40,538,286	35,017,097	651,695	588,116	302,651	223,071	260,983	301,772	239,874	201,309	312,879	175,977	154,276	0	861,310	939,455
Other Current Assets	0	452,431	490,321	951,481	515,543	395,146	995,245	436,572	490,502	731,470	278,844	284,533	241,926	55,211	148,278	120,825	237,130	117,768	273,387	253,624	0	0
Other Current Liab	4,231,000	2,503,202	2,727,056	1,700,972	1,190,159	2,237,494	829,742	51,804	47,401	135,708	10,862	5,683	102,844	531,580	126,093	307,599	17,554	454,175	152,634	87,097	0	0
Other Liab	0	3,548,415	3,369,698	1,913,572	2,048,084	1,994,817	1,956,536	1,952,972	1,767,381	1,375,613	161,050	155,919	196,071	269,422	185,524	179,175	306,663	141,489	119,974	0	0	0
Other Stockholder Equity	5,775,251	8,331,335	8,236,793	1,618,131	1,672,121	2,236,332	2,983,121	4,014,927	4,880,681	5,557,627	934,024	927,617	1,240,205	1,333,025	593,133	609,327	602,469	591,553	0	0	132,560	95,644
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
Preferred Stock Total Equity	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	74,513,744	71,557,982	73,734,877	37,331,224	35,940,467	35,081,486	32,427,941	31,538,400	32,240,339	32,006,000	8,088,000	7,264,000	7,900,000	8,071,000	5,242,000	4,006,000	3,063,000	2,979,000	2,189,267	2,748,347	2,484,850	3,476,501
Property Plant And Equipment Net	60,724,362	59,109,363	62,533,136	37,331,224	38,894,945	38,106,006	35,358,244	34,804,379	35,540,765	35,478,212	8,309,762	7,315,493	7,895,874	8,260,677	5,758,103	4,438,574	3,311,123	3,145,846	2,189,267	2,748,347	2,484,850	3,476,501
Property Plant Equipment	0	55,302,761	57,946,288	63,115	69,686	29,151	31,114	36,427	32,240,339	35,492,210	8,312,189	7,317,975	7,995,295	8,270,311	5,769,345	4,454,887	3,311,123	3,145,846	2,307,355	0	0	0
Retained Earnings	10,802,599	7,674,922	8,410,261	7,399,703	7,734,609	6,591,674	5,580,257	4,509,007	3,472,132	2,310,486	1,500,039	1,207,630	1,043,974	871,750	664,177	499,011	347,205	137,659	49,663	-306,584	0	0
Retained Earnings Total Equity	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	97,066	29,321	3,177,358	27,716,999	21	2,208	6,244,125	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	46,575,986	46,668,175	50,378,273	28,791,504	29,537,275	29,507,587	28,420,739	27,716,999	29,806,843	30,402,392	6,236,892	5,803,499	6,111,165	6,566,163	4,846,664	3,790,487	2,892,744	2,555,139	2,172,995	3,115,492	2,763,666	3,571,178
Short Term Debt	-827,525	0	173,595	49,423	1,000,000	29,321	1,632,057	2,698,772	3,138,393	-527,281	92,660	86,268	376,202	-397,263	-23,331	-169,543	348,217	0	226,884	207,245	0	0
Short Term Investments	0	211,993	16,909	3,303	11,664	0	364,456	329,180	419,447	717,388	272,787	279,843	237,325	222,464	140,746	113,397	95,072	112,277	157,730	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
Total Assets	71,274,559	69,726,918	74,569,768	42,048,039	43,749,244	43,208,915	42,040,144	41,620,453	43,914,479	43,891,098	9,446,201	8,581,418	9,107,632	9,600,607	6,769,501	5,410,826	4,394,227	3,922,992	3,061,233	3,614,950	3,477,428	4,502,077
Total Current Assets	3,796,402	5,608,144	6,305,930	3,371,617	3,241,270	3,032,875	4,244,529	3,668,805	4,106,013	2,729,342	676,347	906,393	678,422	842,620	646,991	618,126	846,051	542,165	660,136	653,864	131,268	86,121
Total Current Liabilities	4,675,042	3,862,940	4,613,955	2,642,994	3,074,572	3,215,846	3,476,901	3,831,308	4,377,592	1,203,002	152,049	132,237	531,182	210,423	147,605	180,488	415,721	489,524	404,102	327,280	0	0
Total Liab	54,685,513	53,531,868	57,922,408	33,115,553	34,367,039	34,328,301	33,401,330	33,038,189	35,488,670	35,948,550	7,016,969	6,458,511	6,824,315	7,383,210	5,356,169	4,284,771	3,413,072	3,161,144	2,641,570	3,587,935	3,344,868	4,406,433
Total Permanent Equity	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	16,588,830	16,117,507	16,570,743	8,864,470	9,314,897	8,828,048	8,579,710	8,524,447	8,348,963	7,863,777	2,425,372	2,122,039	2,277,236	2,211,350	1,258,009	1,109,037	950,373	729,911	419,663	27,015	132,560	95,644
Treasury Stock	0	0	-285,901	-459,994	-537,341	-476,085	-731,442	-490,092	-146,312	0	0	0	-100,000	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	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
Accounts Payable	444,042	806,031	789,223	930,030	812,076	1,066,497	1,084,680	1,113,555	1,202,589	459,720	570,876	243,723	492,779	448,808	466,184	503,991	494,455	475,420	500,615	585,557	556,810	565,685	553,729	602,093	562,256	581,041	543,313	599,424	617,642	572,123	588,960	642,348	728,631	614,356	631,304	640,727	1,203,002	302,462	361,194	5,253	829	821	871	815	739	406	1,332	674	4,142	5,931	20,827	18,684	16,045	17,516	25,724	19,986	11,832	16,004	28,290	7,510	7,510	137	7,023	9,246	16,376	6,693	9,453	7,222	6,958	3,571	0	0	2,575	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	-
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	-
Accumulated Other Comprehensive Income	8,304	160,013	132,624	78,439	108,226	75,379	2,926	-25,687	-79,335	-101,972	-117,713	-133,633	-155,085	-168,946	-180,146	-174,581	-93,587	-108,139	-95,900	-37,470	-1,824	52,415	42,585	35,995	14,274	-347	-3,066	-294	-1,769	-9,131	-10,923	-7,926	-6,307	-6,539	-6,585	-6,726	-6,895	-5,526	-5,462	-9,056	-9,890	-10,124	-10,052	-12,945	-14,401	-10,927	-10,411	-9,266	-8,513	-8,351	-1,292	5,818	5,005	-470	-672,000	-622,000	2,516,000	-502,000	-454,000	0	-327,000	-327,000	-292,000	0	0	0	0	0	0	381,264	0	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	-
Capital Lease Obligations	92,083	91,666	132,064	133,375	135,215	123,931	165,385	166,957	173,595	39,991	41,685	43,223	49,423	49,142	49,069	49,078	51,144	51,343	54,445	56,792	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2,676	2,876	3,024	3,024	3,024	3,024	3,024	3,024	3,024	1,721	1,721	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	7,786,722	8,604,293	8,590,697	8,586,034	8,566,064	8,546,331	8,541,022	8,522,694	1,946,529	1,924,771	2,088,760	2,078,125	2,089,932	2,076,149	2,067,647	2,209,462	2,448,236	2,444,458	2,728,071	2,712,417	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,825,466	2,415,297	1,153,922	1,089,046	1,597,147	1,098,542	1,229,008	1,185,702	1,728,794	1,311,234	1,402,918	1,447,514	1,248,772	3,244,433	2,382,655	4,693,872	1,121,396	1,036,919	782,884	2,348,132	1,204,018	1,175,969	1,598,502	2,152,165	1,659,669	1,454,233	1,601,080	1,935,630	2,035,447	2,228,019	2,584,552	2,929,232	2,403,098	1,301,492	1,568,345	1,594,018	1,490,369	1,744,294	1,731,435	320,136	295,514	318,098	156,929	375,417	520,401	309,654	474,251	424,694	411,081	274,337	344,061	322,450	404,450	285,763	260,256	225,908	182,617	203,377	218,423	193,563	193,563	176,444	175,870	197,170	241,736	271,997	250,124	140,103	131,201	215,325	0	0	183,554	0	0	-
Cash And Equivalents	0	2,415,297	1,153,922	1,089,046	1,597,147	1,098,542	1,229,008	1,185,702	1,728,794	1,311,234	1,402,918	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,825,466	2,415,297	1,153,922	1,089,046	1,597,147	1,098,542	1,229,008	1,185,702	1,728,794	1,311,234	1,402,918	1,447,514	1,248,772	3,244,433	2,382,655	4,693,872	1,121,396	1,036,919	782,884	2,348,132	1,204,018	1,175,969	1,598,502	2,152,165	1,659,669	1,454,233	1,601,080	1,935,630	2,035,447	2,228,019	2,584,552	2,929,232	2,403,098	1,301,492	1,568,345	1,594,018	1,490,369	1,744,294	1,731,435	320,136	295,514	318,098	156,929	375,417	520,401	309,654	474,251	424,694	411,081	274,337	344,061	322,450	404,450	285,763	260,256	225,908	182,617	203,377	218,423	193,563	193,563	176,444	175,870	197,170	241,736	271,997	250,124	140,103	131,201	215,325	0	0	183,554	0	0	-
Common Stock	2,676	2,876	3,024	3,024	3,024	3,024	3,024	3,024	3,024	1,721	1,721	1,721	1,721	1,721	1,721	1,721	1,754	1,810	1,810	1,866	1,866	1,923	1,923	1,923	2,058	2,117	2,174	2,229	2,282	2,282	2,380	2,408	2,457	2,568	2,568	2,562	2,559	2,559	2,559	1,199	1,199	1,197	1,196	1,193	1,193	1,278	1,570	1,570	1,570	1,570	1,570	1,570	1,570	1,163	1,163	1,163	699	699	699	699	699	699	699	699	699	699	699	699	699	384,964	0	0	370,000	0	0	-
Common Stock Shares Outstanding	205,969	227,380	232,867	241,560	242,858	242,365	242,265	239,645	129,379	129,379	129,896	129,484	129,484	127,590	128,132	129,341	129,341	134,176	137,072	139,619	139,619	147,124	149,475	154,147	154,147	164,411	169,263	175,903	175,903	185,327	190,529	197,743	197,743	199,215	211,486	214,824	214,580	214,399	166,633	116,214	115,336	114,922	114,603	114,643	119,152	129,258	139,428	139,899	139,899	147,431	149,211	149,232	136,001	119,386	119,386	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	85,037	78,237	78,237	78,237	78,237	736	736	736
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	1,721	1,721	1,721	1,721	1,721	1,721	1,754	1,810	1,810	1,866	1,866	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	3,000	3,000	3,000	3,000	3,000	2,559	1,000	1,053,582	1,000	1,000	1,000	1,000	1,000	2,000	2,000	0	2,000	2,000	2,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	1,000	384,964	0	0	370,000	0	0	-
Current Deferred Revenue	827,525	720,350	582,814	593,588	547,662	520,084	538,532	470,880	510,715	276,833	306,250	0	399,820	462,928	520,466	362,327	389,958	403,137	402,007	405,940	421,542	408,254	398,262	444,006	452,846	447,136	478,950	490,947	463,090	468,704	469,078	452,805	463,167	446,802	419,492	427,413	391,573	345,416	292,573	47,639	47,698	46,009	42,704	40,617	39,547	0	0	541,042	47,994	0	0	0	60,061	0	0	0	33,011	0	0	34,922	34,922	38,516	40,042	35,663	33,574	30,338	31,460	29,065	28,391	26,621	0	0	22,009	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	-
Deferred Long Term Liab	0	0	0	0	0	27,562	30,751	33,869	30,065	52,822	144,414	207,431	20,722	16,360	19,095	22,724	26,393	23,321	27,250	33,664	36,814	40,718	53,402	48,824	43,241	38,574	33,810	36,017	33,700	34,381	39,000	0	45,524	0	0	0	203,965	0	0	0	148,315	0	0	0	0	0	0	0	0	0	0	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	-
Good Will	0	0	0	0	0	0	0	0	0	0	0	0	874,548	912,896	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	58,094	4,263,076	4,719,034	8,000	9,000	12,000	13,000	15,000	18,000	21,000	24,000	27,000	0	7	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	6,776	37,225	0	0	0	0	0	-
Intangible Assets	2,893,129	3,021,028	3,151,893	3,334,938	3,549,663	3,800,675	3,974,113	4,118,287	4,653,399	802,254	828,217	849,973	874,548	912,896	973,449	1,018,045	1,058,915	1,171,947	1,218,095	1,323,272	1,383,666	1,470,459	1,559,175	1,676,811	1,799,276	1,978,654	2,147,554	2,357,851	2,506,932	2,774,749	3,013,094	3,246,109	3,541,957	3,847,785	4,060,979	4,261,009	4,428,346	4,676,042	4,719,034	7,746	9,354	11,566	13,487	15,497	18,100	20,950	23,825	26,700	29,678	34,232	48,809	53,364	58,637	64,568	70,498	80,177	31,399	34,602	37,893	47,099	47,099	50,888	54,788	45,427	41,855	43,161	46,100	49,080	34,229	30,455	0	0	38,571	0	0	-
Inventory	85,668	76,817	72,584	59,163	55,868	42,958	53,441	51,940	48,584	0	0	0	0	0	0	3,157	3,157	6,431	57,220	20,256	30,971	54,995	37,120	37,034	38,972	42,267	46,892	59,386	52,673	61,424	146,689	200,186	260,269	304,079	292,358	311,174	315,532	273,901	270,744	0	-10,997	0	7,167	8,864	-4,690	6,506	7,167	8,864	13,953	16,470	132,796	124,985	121,085	119,097	125,057	97,988	102,538	108,444	131,000	102,879	102,879	89,746	88,627	83,469	90,726	75,861	83,064	72,115	82,811	85,475	0	0	0	0	0	-
Liabilities And Stockholders Equity	71,274,559	71,593,664	69,928,407	69,684,403	69,726,918	69,811,154	69,747,591	70,208,185	74,569,768	41,499,328	41,824,093	41,997,054	42,048,039	44,421,118	45,193,774	47,144,828	43,749,244	43,549,014	43,067,924	44,716,954	43,208,915	42,149,536	42,019,387	42,493,720	42,040,144	41,006,730	41,019,489	41,442,898	41,620,453	41,797,800	42,922,807	43,717,710	43,914,479	43,202,087	44,056,479	44,083,750	43,891,098	43,865,284	43,938,330	9,499,487	9,446,201	9,286,867	8,972,557	8,649,373	8,581,418	9,133,814	9,289,079	9,255,899	9,107,632	9,553,384	9,571,037	9,789,055	9,600,607	9,338,580	9,098,359	8,709,529	6,769,501	6,417,628	6,130,827	5,410,826	5,410,826	5,269,507	5,217,726	4,594,650	4,394,227	4,253,206	4,411,287	4,030,054	3,922,992	3,551,347	0	0	3,061,233	0	0	-
Long Term Debt	46,483,903	47,492,809	46,255,843	46,295,924	46,395,800	47,350,115	47,927,887	48,912,874	50,204,678	27,539,694	28,098,620	28,553,115	28,631,380	31,087,112	30,683,892	32,760,773	29,349,903	29,155,264	28,890,961	30,629,622	25,398,927	28,387,468	28,545,513	28,890,287	25,243,381	27,287,634	27,180,966	27,520,504	23,961,806	27,997,884	29,139,129	29,812,797	25,830,296	29,321,208	30,682,408	30,256,631	26,807,497	30,827,610	31,340,669	6,204,408	5,449,870	6,231,549	6,023,932	5,793,566	5,082,359	6,131,199	6,224,987	6,176,754	5,310,304	6,200,711	6,519,233	6,731,055	5,831,015	6,562,293	6,393,867	6,082,544	3,832,549	4,593,268	4,336,966	4,133,991	3,238,459	3,603,013	3,580,002	3,044,462	2,475,331	2,781,646	2,977,654	2,665,987	2,164,194	2,458,977	0	0	1,989,965	0	0	-
Long Term Debt Total	0	47,492,809	46,255,843	46,295,924	46,532,960	47,350,115	47,927,887	48,912,874	50,204,678	27,539,694	28,098,620	28,553,115	28,742,081	31,087,112	30,683,892	32,760,773	29,474,454	29,279,957	29,014,193	30,750,116	29,507,587	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	-
Long Term Investments	1,058,572	1,011,224	968,471	914,241	873,738	820,479	757,499	753,850	750,341	167,132	129,512	128,148	138,065	194,313	326,538	1,103,465	1,134,828	1,162,488	1,138,200	1,128,299	132,113	130,536	127,891	126,591	122,946	121,944	121,030	121,921	118,783	115,071	117,000	0	114,711	0	0	0	115,554	0	0	0	112,380	0	0	0	0	0	0	0	0	0	0	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	-
Net Debt	44,750,520	45,169,178	45,233,985	45,340,253	45,071,028	46,375,504	46,864,264	47,894,129	48,649,479	26,268,451	26,737,387	27,148,824	27,542,732	27,891,821	28,350,306	28,115,979	28,415,879	28,297,946	28,291,227	28,467,814	28,303,569	27,211,499	26,947,011	26,738,122	26,761,070	25,833,401	25,579,886	25,584,874	25,681,552	25,769,865	26,554,577	26,883,565	27,403,745	28,019,716	29,114,063	28,662,613	28,912,023	29,083,316	29,609,234	5,884,272	5,941,378	5,913,451	5,867,003	5,418,149	5,283,098	5,821,545	5,750,736	5,856,323	5,700,084	5,926,374	6,175,172	6,529,294	6,161,713	6,414,846	6,133,611	5,856,636	4,664,047	4,389,891	4,118,543	3,596,924	3,596,924	3,426,569	3,404,132	2,847,292	2,651,008	2,509,649	2,727,530	2,525,884	2,423,938	2,243,652	0	0	1,989,441	0	0	-
Net Invested Capital	63,072,733	63,786,463	62,567,715	62,341,340	62,650,467	62,917,799	62,962,316	63,566,004	66,775,421	37,394,646	37,482,157	37,692,440	37,606,551	39,898,485	40,317,869	42,143,699	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,885,268	3,674,233	3,650,924	3,445,606	3,502,698	3,927,685	4,050,224	4,189,600	4,038,231	1,659,963	2,108,625	917,855	1,876,327	1,956,211	1,917,066	1,534,712	1,601,174	1,535,567	481,898	1,373,751	1,402,740	1,483,945	1,432,746	1,454,875	1,550,643	1,399,095	1,227,117	1,121,776	1,144,113	1,208,722	1,080,654	1,057,339	952,144	951,432	851,915	821,225	507,503	678,173	732,953	116,464	112,986	133,053	136,936	120,580	106,149	12,657	11,358	10,494	70,638	13,353	60,895	58,976	94,621	60,001	47,991	51,709	221,090	49,037	39,244	208,287	208,287	217,774	240,127	264,006	276,459	208,425	202,677	198,802	210,385	186,262	0	0	203,195	0	0	-
Net Tangible Assets	0	13,116,785	16,137,708	12,551,130	12,404,161	11,614,071	10,914,022	10,394,799	11,758,927	8,893,223	8,392,220	8,116,495	7,812,894	7,703,042	8,393,103	8,089,617	7,958,281	7,709,924	7,501,895	7,284,770	7,134,327	7,086,542	6,799,817	6,640,040	6,508,656	6,315,408	6,135,505	5,934,865	5,782,293	0	0	0	4,586,635	0	0	0	3,317,981	0	0	0	2,416,018	0	0	0	0	0	0	0	0	0	0	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	4,419,935	5,251,932	4,476,983	1,364,334	1,745,204	1,245,007	1,631,518	1,927,737	1,518,380	1,013,913	162,148	101,948	124,451	2,195,944	1,270,627	3,012,478	166,698	380,475	-1,132,896	1,349,250	-182,971	153,425	372,079	1,158,755	767,628	-168,371	121,110	-179,429	-162,503	302,563	1,070,723	482,920	-271,579	-1,424,741	-1,137,107	-1,140,365	1,526,340	-884,081	-698,373	56,270	524,298	157,254	-9,890	242,511	774,156	20,703	202,153	84,570	172,525	7,844	187,410	48,434	632,197	182,689	187,585	117,751	499,386	171,985	74,129	437,638	437,638	626,549	576,906	528,637	430,330	397,450	437,483	292,332	52,641	330,230	0	0	256,034	0	0	-
Non Current Assets Total	67,478,157	64,815,351	64,079,387	64,308,482	64,118,774	64,573,571	64,177,393	64,454,929	68,263,838	38,112,457	38,070,662	39,428,139	38,676,422	38,935,546	40,487,782	40,396,186	40,507,974	40,008,758	41,050,572	40,115,158	40,176,039	38,752,041	38,442,526	37,920,505	37,795,615	37,578,740	37,183,536	37,805,556	37,951,648	37,531,205	37,840,804	39,112,006	39,808,466	40,250,538	40,944,819	40,942,755	41,161,756	40,464,289	40,361,793	8,795,894	8,769,854	8,555,144	8,423,438	7,857,364	7,675,025	8,494,688	8,505,468	8,508,195	8,370,035	9,038,593	8,842,259	9,072,510	8,757,987	8,639,765	8,418,593	8,119,439	6,122,510	5,935,703	5,744,976	4,792,700	4,792,700	4,232,443	4,201,122	3,638,487	3,548,176	3,410,877	3,511,127	3,368,954	3,380,827	2,809,724	0	0	2,401,097	0	0	-
Non Current Liabilities Other	1,018,702	945,855	876,556	844,958	806,655	774,357	743,485	742,076	773,753	497,178	587,335	629,629	600,321	594,631	649,947	723,949	747,790	762,261	774,312	781,586	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	50,010,471	53,695,162	52,165,862	49,549,193	49,668,928	50,174,060	50,697,560	51,652,888	53,308,453	29,196,416	29,847,271	30,322,853	30,472,559	32,801,647	32,573,187	34,676,640	31,292,467	31,149,242	30,839,501	32,494,627	31,112,455	29,981,874	30,090,789	30,430,981	29,924,429	28,807,774	28,727,399	29,049,144	29,206,881	29,406,741	30,496,700	31,135,670	31,111,078	30,689,509	31,985,372	31,533,751	34,745,548	31,935,653	32,389,742	6,366,148	6,864,920	6,350,473	6,139,343	5,905,859	6,326,274	6,297,332	6,392,808	6,244,299	6,259,242	6,801,519	6,713,447	6,828,263	7,172,787	6,841,934	6,684,724	6,377,405	5,208,564	4,772,933	4,524,046	4,104,283	4,104,283	3,701,107	3,672,152	3,133,659	2,997,351	2,868,210	3,059,244	2,815,786	2,671,620	2,568,165	0	0	2,237,468	0	0	-
Non Currrent Assets Other	1,141,273	400,304	379,524	335,059	375,676	386,036	273,344	242,739	205,391	683,265	317,897	1,449,193	201,053	213,007	230,278	241,733	277,664	267,846	1,196,413	312,753	357,880	416,328	410,176	356,816	305,821	262,878	240,897	241,157	248,015	226,854	235,337	218,745	391,746	379,945	372,352	343,550	720,951	215,535	206,572	216,103	216,695	162,780	167,935	142,814	167,844	231,324	279,930	335,009	169,725	885,395	437,954	477,999	264,352	433,251	536,585	668,028	225,103	365,175	1,070,394	199,102	199,102	261,349	247,173	172,791	91,491	341,786	177,968	147,344	74,499	100,945	0	0	73,913	0	0	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	813,374	1,177,811	996,868	662,765	59,453,637	59,076,141	59,255,924	611,892	36,458,412	36,883,235	37,150,393	37,420,363	37,567,774	38,852,489	38,908,325	38,946,729	1,113,767	846,301	1,002,575	1	36,688,303	36,311,112	35,720,667	3,174,815	2,935,479	3,549,125	3,264,555	3,365,851	3,791,671	4,527,054	3,916,540	4,423,870	4,598,107	4,818,946	5,067,109	5,133,405	5,193,657	5,329,597	438,102	424,385	352,708	362,065	336,591	335,033	338,374	346,843	364,717	-1	951,427	458,711	472,703	440,170	370,069	414,300	367,863	299,080	288,044	291,732	344,126	273,862	393,774	435,744	359,243	373,188	483,620	480,957	292,139	234,982	267,605	0	0	195,847	0	0	-
Other Current Assets	0	611,966	971,590	782,106	452,431	168,398	237,525	326,014	490,321	415,674	241,888	271,455	246,518	284,928	406,271	520,058	515,543	961,339	695,350	859,657	395,146	682,586	305,783	929,141	995,245	532,395	960,864	520,550	436,572	768,430	1,270,108	418,947	490,502	394,546	399,042	414,578	731,470	704,627	841,405	266,993	278,844	280,572	255,254	296,012	284,533	310,309	290,835	303,652	241,926	210,631	191,026	210,134	55,211	233,954	246,462	214,485	148,278	121,067	128,184	120,825	120,825	553,100	511,980	411,518	237,130	286,046	364,295	250,080	117,768	254,561	0	0	273,387	0	0	-
Other Current Liab	4,231,000	3,096,654	2,881,042	2,487,969	2,503,202	2,405,995	2,315,468	2,241,084	2,727,056	1,596,414	1,648,197	0	1,750,395	1,828,246	1,930,874	2,149,884	1,190,159	2,281,224	2,242,753	2,261,049	2,237,494	804,467	794,740	2,368,361	829,742	5,050	23,998	57,989	51,804	53,164	53,113	49,251	47,401	79,880	102,638	134,100	135,708	3,637,198	5,739	594,431	10,862	527,639	515,434	508,066	5,683	618,017	580,126	17,155	102,844	501,016	520,541	528,738	531,580	498,610	466,457	452,353	126,093	293,936	283,432	307,599	307,599	36,378	56,550	382,617	17,554	407,848	421,764	332,481	454,175	112,300	0	0	152,634	0	0	-
Other Liab	0	4,110,220	3,210,431	3,698,579	3,548,415	3,220,098	3,141,495	3,020,568	3,369,698	1,828,926	1,889,608	1,896,934	1,913,572	1,941,628	2,160,678	2,036,475	2,048,084	2,101,210	2,068,492	2,029,627	1,997,089	2,002,660	1,943,036	1,984,647	1,282,588	1,281,338	1,369,434	1,404,301	1,373,993	1,403,505	1,395,215	1,378,344	1,402,022	1,433,140	1,386,591	1,415,760	1,375,613	1,272,583	1,218,998	155,776	161,050	164,933	158,115	152,910	155,919	182,052	184,233	188,963	196,071	613,935	208,196	235,199	269,422	293,809	302,802	296,573	185,524	232,878	180,249	179,971	179,175	260,573	240,057	212,154	306,663	192,664	181,121	172,484	141,489	471,225	0	0	119,974	0	0	-
Other Stockholder Equity	5,775,251	6,427,506	7,578,219	7,859,180	8,331,335	8,308,278	8,286,685	8,267,702	8,236,793	1,632,622	1,610,819	11,599,688	1,618,131	1,597,899	1,579,932	1,569,644	1,672,121	1,857,151	1,949,913	2,116,470	2,236,332	2,455,833	2,528,986	2,708,163	2,983,121	3,231,585	3,474,399	3,750,338	4,014,927	4,229,398	4,436,027	4,707,415	4,880,681	4,843,394	4,819,170	5,574,266	5,557,627	5,533,161	5,507,591	936,271	934,024	932,813	930,541	929,707	927,617	1,028,293	1,180,882	1,241,670	1,240,205	1,278,104	1,335,401	1,334,967	1,333,025	968,724	968,625	965,875	593,133	592,133	591,623	609,327	609,327	607,852	605,889	604,105	602,469	605,093	601,850	593,999	591,553	-381,264	0	0	0	0	0	-
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	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	74,513,744	73,450,342	72,339,209	72,357,812	71,557,982	59,466,982	0	0	0	0	36,668,898	36,872,340	37,331,224	34,799,613	35,422,357	35,738,662	35,940,467	35,303,816	35,329,904	35,159,653	35,081,486	33,216,000	32,977,000	32,188,000	32,428,000	31,610,000	30,993,000	31,596,000	31,538,000	30,913,000	30,936,000	32,009,000	32,240,000	32,266,000	32,751,000	32,643,000	32,006,000	32,300,000	31,649,698	8,084,000	8,088,000	8,016,000	7,899,000	7,457,000	7,264,000	8,048,000	8,031,000	7,978,000	7,896,000	7,940,000	8,167,000	8,376,000	8,061,000	7,984,000	7,635,000	7,210,000	5,230,000	4,775,000	4,508,000	4,006,000	3,831,000	3,831,000	3,782,000	3,279,000	3,050,000	2,927,000	3,030,000	3,075,000	2,967,000	2,542,119	0	0	2,189,267	0	0	-
Property Plant And Equipment Net	60,724,362	60,181,387	59,373,278	59,509,482	59,109,363	59,466,982	59,062,775	59,226,287	62,533,136	36,337,994	36,668,898	0	37,331,224	37,509,883	38,792,453	38,847,365	38,894,945	38,234,787	38,291,271	38,143,976	38,106,006	36,531,935	36,139,677	35,554,408	35,358,244	34,942,197	34,400,359	34,811,137	34,804,379	34,194,408	34,255,995	35,313,660	35,540,765	35,702,391	36,183,689	36,011,620	35,478,212	35,287,934	35,058,596	8,329,607	8,309,762	8,202,436	8,061,373	7,520,773	7,315,493	8,045,708	8,027,488	7,974,747	7,995,295	7,936,045	8,184,762	8,366,553	8,260,677	7,974,109	7,635,187	7,198,401	5,758,103	5,394,251	4,493,793	4,438,574	4,438,574	3,837,339	3,813,768	3,331,101	3,311,123	2,927,257	3,188,151	3,076,815	3,145,846	2,542,119	0	0	2,189,267	0	0	-
Property Plant Equipment	0	56,297,985	55,675,460	55,563,060	55,302,761	140,306	127,047	117,998	57,946,288	54,216	56,215	57,863	63,115	63,916	66,029	68,031	69,686	35,303,816	35,329,904	35,159,653	29,151	29,039	29,480	30,350	35,358,244	34,942,197	34,400,359	34,811,137	34,804,379	34,194,408	34,255,995	35,313,660	35,540,765	35,702,391	36,183,689	36,011,620	35,492,210	35,287,934	35,058,596	8,332,155	8,312,189	8,202,436	8,061,373	7,520,773	7,317,975	8,099,170	8,101,930	8,080,895	7,995,295	8,021,650	8,296,108	8,506,377	8,270,311	8,181,943	7,894,574	7,621,627	5,769,345	5,407,489	5,085,003	4,759,548	4,454,887	4,216,457	4,093,550	3,563,612	3,311,123	3,152,489	3,216,349	3,227,436	3,145,846	2,671,615	0	0	2,307,355	0	0	-
Retained Earnings	10,802,599	9,703,259	8,598,005	8,104,773	7,674,922	7,181,003	6,741,794	6,408,091	8,410,261	8,322,581	7,888,710	7,625,705	7,399,703	7,380,699	8,232,470	7,986,142	7,734,609	7,424,094	7,157,186	6,825,312	6,591,674	6,359,681	6,095,973	5,846,544	5,580,257	5,313,120	5,047,251	4,767,381	4,509,007	4,146,969	3,924,226	3,690,953	3,472,132	3,220,402	2,931,090	2,621,981	2,310,486	2,033,996	1,689,925	1,554,750	1,500,039	1,434,416	1,350,768	1,275,079	1,207,630	1,196,476	1,138,565	1,108,984	1,043,974	967,586	974,681	943,839	871,750	799,309	747,431	698,576	664,177	621,012	585,560	499,011	499,011	518,009	466,678	398,082	347,205	302,090	253,484	219,117	137,659	154,805	0	0	49,663	0	0	-
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	97,066	116,304	103,778	54,994	4,137,981	0	502	53	3,177,358	1,428	27,184,156	27,520,896	27,716,999	28,001,132	29,144,000	0	21	0	0	0	2,208	0	0	0	6,244,125	0	0	0	0	0	0	0	0	0	0	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	46,575,986	47,584,475	46,387,907	46,429,299	46,668,175	47,474,046	48,093,272	49,079,831	50,378,273	27,579,685	28,140,305	28,596,338	28,791,504	31,136,254	30,732,961	32,809,851	29,537,275	29,334,865	29,074,111	30,815,946	29,507,587	28,387,468	28,545,513	28,890,287	28,420,739	27,287,634	27,180,966	27,520,504	27,716,999	27,997,884	29,139,129	29,812,797	29,806,843	29,321,208	30,682,408	30,256,631	30,402,392	30,827,610	31,340,669	6,204,408	6,236,892	6,231,549	6,023,932	5,793,566	5,803,499	6,131,199	6,224,987	6,281,017	6,111,165	6,200,711	6,519,233	6,851,744	6,566,163	6,700,609	6,393,867	6,082,544	4,846,664	4,593,268	4,336,966	3,790,487	3,790,487	3,603,013	3,580,002	3,044,462	2,892,744	2,781,646	2,977,654	2,665,987	2,555,139	2,458,977	0	0	2,172,995	0	0	-
Short Term Debt	-827,525	-3,096,654	-2,881,042	0	0	0	0	0	173,595	39,991	0	0	0	0	0	0	1,000,000	116,304	4,873	54,994	4,137,981	1,465,664	1,458,051	29,943,105	1,632,057	2,563,134	2,668,582	2,668,411	2,698,772	2,870,041	2,900,129	2,978,380	3,138,393	3,235,252	3,095,333	3,079,120	-527,281	-24,339,842	3,615,404	6,204,408	92,660	92,660	6,224,987	5,803	86,268	86,268	6,111	104,263	410,093	6,393,867	6,566	120,689	-397,263	4,336,966	4,846,664	3,900	-23,331	3,580,002	3,790,487	-169,543	-169,543	335,484	336,083	0	348,217	0	0	2,555	0	268,901	0	0	226,884	0	0	-
Short Term Investments	0	244,463	220,597	175,711	211,993	205,536	96,299	0	0	0	0	0	0	0	0	0	0	0	0	0	0	232,800	259,971	299,965	364,456	331,964	309,264	359,221	329,180	424,998	422,774	398,222	419,447	384,657	379,509	333,985	717,388	673,307	798,909	266,993	272,787	275,244	247,374	288,293	279,843	310,309	290,835	303,652	237,325	210,631	191,026	210,134	222,464	233,954	246,462	214,485	140,746	121,067	128,184	144,954	113,397	167,843	183,808	127,150	95,072	60,814	178,116	99,459	112,277	0	0	0	157,730	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	-
Total Assets	71,274,559	71,593,664	69,928,407	69,684,403	69,726,918	69,811,154	69,747,591	70,208,185	74,569,768	41,499,328	41,824,093	42,064,963	42,048,039	44,421,118	45,193,774	47,144,828	43,749,244	43,549,014	43,067,924	44,716,954	43,208,915	42,149,536	42,019,387	42,493,720	42,040,144	41,006,730	41,019,489	41,442,898	41,620,453	41,797,800	42,922,807	43,717,710	43,914,479	43,202,087	44,056,479	44,083,750	43,891,098	43,865,284	43,938,330	9,499,487	9,446,201	9,286,867	8,972,557	8,649,373	8,581,418	9,133,814	9,289,079	9,255,899	9,107,632	9,553,384	9,571,037	9,789,055	9,600,607	9,338,580	9,098,359	8,709,529	6,769,501	6,417,628	6,130,827	5,410,826	5,410,826	5,269,507	5,217,726	4,594,650	4,394,227	4,253,206	4,411,287	4,030,054	3,922,992	3,551,347	0	0	3,061,233	0	0	-
Total Current Assets	3,796,402	6,778,313	5,849,020	5,375,921	5,608,144	5,237,583	5,570,198	5,753,256	6,305,930	3,386,871	3,753,431	2,636,824	3,371,617	5,485,572	4,705,992	6,748,642	3,241,270	3,540,256	2,017,352	4,601,796	3,032,875	3,397,495	3,576,861	4,573,215	4,244,529	3,427,990	3,835,953	3,637,342	3,668,805	4,266,595	5,082,003	4,605,704	4,106,013	2,951,549	3,111,660	3,140,995	2,729,342	3,400,995	3,576,537	703,593	676,347	731,723	549,119	792,009	906,393	639,126	783,611	747,704	737,598	514,791	728,778	716,545	842,620	698,815	679,766	590,090	646,991	481,925	385,851	618,126	618,126	1,037,064	1,016,604	956,163	846,051	842,329	900,160	661,100	542,165	741,623	0	0	660,136	0	0	-
Total Current Liabilities	4,675,042	1,526,381	1,372,037	4,011,587	3,862,940	3,992,576	3,938,680	3,825,519	4,613,955	2,372,958	2,525,323	2,534,876	2,642,994	2,739,982	2,917,524	3,016,202	3,074,572	3,159,781	3,150,248	3,252,546	3,215,846	3,244,070	3,204,782	3,414,460	3,476,901	3,596,361	3,714,843	3,816,771	3,831,308	3,964,032	4,011,280	4,122,784	4,377,592	4,376,290	4,248,767	4,281,360	1,203,002	4,285,076	4,274,910	647,323	152,049	574,469	559,009	549,498	132,237	618,423	581,458	663,134	565,073	506,947	541,368	668,111	210,423	516,126	492,181	472,339	147,605	309,940	311,722	180,488	180,488	410,515	439,698	427,526	415,721	444,879	462,677	368,768	489,524	411,393	0	0	404,102	0	0	-
Total Liab	54,685,513	55,221,543	53,537,899	53,560,780	53,531,868	54,166,636	54,636,240	55,478,407	57,922,408	31,569,374	32,372,594	32,857,729	33,115,553	35,541,629	35,490,711	37,692,842	34,367,039	34,309,023	33,989,749	35,747,173	34,328,301	33,225,944	33,295,571	33,845,441	33,401,330	32,404,135	32,442,242	32,865,915	33,038,189	33,370,773	34,507,980	35,258,454	35,488,670	35,065,799	36,234,139	35,815,111	35,948,550	36,220,729	36,664,652	7,013,471	7,016,969	6,924,942	6,698,352	6,455,357	6,458,511	6,915,755	6,974,266	6,907,433	6,824,315	7,308,466	7,254,815	7,496,374	7,383,210	7,358,060	7,176,905	6,849,744	5,356,169	5,082,873	4,835,768	4,284,771	4,284,771	4,111,622	4,111,850	3,561,185	3,413,072	3,313,089	3,521,921	3,184,554	3,161,144	2,979,558	0	0	2,641,570	0	0	-
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	16,588,830	16,293,654	16,311,872	16,045,416	16,117,507	15,567,684	15,034,429	14,653,130	16,570,743	9,854,952	9,383,537	9,139,325	8,864,470	8,811,373	9,633,977	9,382,926	9,314,897	9,174,916	9,013,009	8,906,178	8,828,048	8,869,852	8,669,467	8,592,625	8,579,710	8,546,475	8,520,758	8,519,654	8,524,447	8,369,518	8,351,710	8,392,850	8,348,963	8,059,825	7,746,243	8,192,083	7,863,777	7,564,190	7,194,613	2,483,164	2,425,372	2,358,302	2,272,453	2,193,034	2,122,039	2,215,120	2,310,606	2,342,958	2,277,236	2,238,909	2,310,360	2,286,194	2,211,350	1,768,726	1,717,219	1,665,614	1,258,009	1,213,844	1,177,882	1,109,037	1,109,037	1,126,560	1,073,266	1,002,886	950,373	907,882	856,033	813,815	729,911	539,769	0	0	419,663	0	0	-
Treasury Stock	0	0	0	0	0	0	0	0	-285,901	-313,907	-313,952	-443,228	-459,994	-168,946	-496,217	-498,003	-537,341	-591,085	-494,545	-611,601	-476,085	-518,192	-434,457	-491,291	-731,442	-695,252	-654,021	-579,841	-490,092	-257,872	-352,629	-155,573	-146,312	-755,118	-761,228	0	0	0	0	0	0	0	-2	0	0	-1,300	-162,719	-100,000	-100,000	-60,632	-1,449	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
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	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
Begin Period Cash Flow	1,756,770	1,914,753	1,495,290	1,300,347	1,415,035	2,024,125	2,035,447	2,403,098	1,490,369	295,514	520,401	411,081	404,450	182,617	193,563	241,736	131,201	183,554	19,972	131,268	389,839	0
Capital Expenditures	6,232,386	3,871,572	1,789,781	1,183,725	4,728,492	5,948,409	5,225,256	3,840,150	3,563,656	2,560,376	1,996,159	1,073,673	810,236	2,088,974	1,717,751	1,662,989	882,308	983,841	198,870	313,213	0	0
Cash And Cash Equivalents Changes	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	68,696	-157,983	419,463	194,943	-114,688	-609,090	-375,778	-367,651	912,729	1,194,855	-224,887	109,320	6,631	221,833	-10,946	-48,173	110,535	-52,353	163,582	12,372	237,901	389,839
Change In Working Capital	148,744	-389,483	475,242	-654,681	-82,366	4,781	64,720	265,072	170,388	91,350	-1,527	-9,868	-108,134	-5,496	-44,265	-85,911	-72,950	128,050	58,706	-7,959	0	0
Change Receivables	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	56,442	39,162	232,119	-128,188	-8,751	19,839	-10,567	40,065	48,468	102,547	2,854	912	0	0	0	-5,208	3,161	16,842	68,869	0	0	0
Change To Inventory	0	0	-130,333	126,177	-31	24,858	0	0	0	0	0	7,877	-18,100	3,183	35,238	-5,469	8,460	-24,216	0	0	0	0
Change To Liabilities	0	-542,019	130,333	-126,177	31	-24,858	19,978	-32,183	33,502	21,825	43,779	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	3,558,647	366,167	1,373,287	286,588	64,386	192,998	202,590	99,295	-20,228	-6,940	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	113,374	112,790	-400,316	-73,646	9,800	55,309	257,190	88,418	12,704	-32,760	0	0	0	0	0	0	0	0	0	0	0
Depreciation	2,480,578	2,389,807	1,737,925	1,645,373	1,676,121	1,691,388	1,740,928	1,811,172	1,866,045	1,354,034	346,476	368,924	402,174	355,824	236,697	184,007	151,895	112,519	118,888	125,877	143,303	202,395
Dividends Paid	0	0	0	0	0	0	266	10,501	10,501	10,501	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	1,825,466	1,756,770	1,914,753	1,495,290	1,300,347	1,415,035	1,659,669	2,035,447	2,403,098	1,490,369	295,514	520,401	411,081	404,450	182,617	193,563	241,736	131,201	183,554	143,640	237,901	389,839
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
Free Cash Flow	-970,951	1,299,390	1,904,041	946,658	-1,622,810	-3,108,037	-2,085,039	-458,918	-203,616	-235,205	-1,341,029	-430,367	-188,680	-1,473,532	-1,318,550	-1,412,556	-676,370	-635,462	17,643	-221,280	123,614	220,234
Investments	-3,182,968	-2,160,499	-23,458,936	-712,288	-2,954,743	-4,052,610	-3,427,395	-1,331,112	54,975	40,983	-13,180	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	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	-3,762,086	20,523,152	-613,682	34,480	1,229,305	900,949	-1,571,558	-129,903	584,827	410,512	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,136,091	-721,158	1,009,431	-294,923	1,166,777	1,017,497	1,080,353	1,039,516	1,177,172	808,498	295,402	158,442	172,750	236,820	206,371	151,805	188,453	87,996	83,363	-105,362	36,915	-277,587
Other Cashflows From Financing Activities	728,656	1,086,686	26,233,529	10,462,460	6,879,765	5,795,328	5,746,667	3,817,677	4,109,397	5,546,118	2,306,624	1,339,996	1,673,335	2,393,078	2,481,212	1,602,851	2,346,377	907,662	958,416	136,546	237,901	389,839
Other Cashflows From Investing Activities	0	1,711,073	-21,669,155	471,437	-17	-21,505	-38,102	-21,678	1,847,751	569,633	651,235	781,278	260,702	655,212	153,481	510,222	430,886	242,563	104,581	0	0	0
Other Non Cash Items	3,899,906	3,798,534	381,042	1,386,309	56,590	813,516	-274,770	-491,064	-425,568	-96,509	-15,699	110,986	124,656	5,135	-5,740	-5,684	-86,305	-74,910	6,163	634	-56,604	295,426
Sale Purchase Of Stock	-2,637,589	-17,419	-76,220	-127,777	-639,941	-834,398	-1,138,782	-1,021,119	-793,945	-793,945	0	-320,092	-100,000	110,200	0	0	0	0	0	0	0	0
Stock Based Compensation	-4,683,953	102,848	96,087	69,187	126,062	-834,398	371,965	595,196	461,650	68,150	9,292	7,127	6,236	3,402	3,910	6,858	10,916	78,635	-64,213	80,542	0	0
Total Cash From Financing Activities	-2,011,719	-3,160,815	20,183,801	-1,225,332	-265,006	600,410	-87,568	-2,417,166	-728,291	719,343	453,048	-175,266	-53,221	1,017,631	1,178,456	860,593	321,079	443,558	1,363,467	136,546	237,901	389,839
Total Cash From Operating Activities	5,261,435	5,170,962	3,693,822	2,130,383	3,105,682	2,840,372	3,140,217	3,381,232	3,360,040	2,325,171	655,130	643,306	621,556	615,442	399,201	250,433	205,938	348,379	216,513	91,933	123,614	220,234
Total Cashflows From Investing Activities	0	-2,160,499	-23,458,936	-712,288	-2,954,743	-4,052,610	-3,392,119	-1,421,379	-1,715,905	-1,848,790	-1,335,441	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
Begin Period Cash Flow	2,606,664	1,316,987	1,263,667	1,756,770	1,256,716	1,402,449	1,346,234	1,914,753	1,534,505	1,593,365	1,675,456	1,495,290	3,525,786	2,643,121	4,882,543	1,300,347	1,196,613	970,285	2,574,231	1,415,035	1,408,769	1,858,473	2,452,130	2,024,125	1,454,233	1,601,080	1,935,630	2,035,447	2,228,019	2,584,552	2,929,232	2,403,098	1,301,492	1,568,345	1,594,018	1,490,369	1,744,294	1,731,435	320,136	295,514	318,098	156,929	375,417	520,401	309,654	474,251	424,694	411,081	274,337	306,552	322,450	404,450	285,763	260,256	225,908	182,617	203,377	218,423	175,081	176,444	176,444	175,870	197,170	241,736	271,997	250,124	140,103	131,201	215,325	0	0	0	0	0	0
Capital Expenditures	1,516,030	1,572,779	1,338,715	1,740,735	944,717	1,183,116	684,955	1,058,784	975,761	312,899	410,203	90,918	312,750	12,684	471,497	412,162	1,316,438	1,349,651	966,794	1,095,609	2,242,522	1,243,066	1,333,207	1,129,614	2,014,226	1,375,105	965,065	870,860	1,424,203	856,523	867,241	692,183	890,184	537,934	982,583	1,152,955	907,506	759,518	688,497	191,097	289,312	318,512	966,082	422,253	366,375	204,781	225,948	276,853	93,744	202,115	145,810	368,567	180,247	493,579	727,886	687,262	466,666	389,910	414,583	420,354	420,354	211,884	787,220	243,531	301,430	105,705	234,794	240,379	533,458	450,383	0	0	245,185	0	0
Cash And Cash Equivalents 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-781,198	1,289,677	53,320	-493,103	500,054	-145,733	56,215	-568,519	380,248	-58,860	-82,091	180,166	-2,030,496	882,665	-2,239,422	3,582,196	103,734	226,328	-1,603,946	1,159,196	6,266	-449,704	-593,657	428,005	205,436	-146,847	-334,550	-99,817	-192,572	-356,533	-344,680	526,134	1,101,606	-266,853	-25,673	103,649	-253,925	12,859	1,411,299	24,622	-22,584	161,169	-218,488	-144,984	210,747	-164,597	49,557	13,613	136,744	-32,215	21,611	-82,000	118,687	25,507	34,348	43,291	-20,760	-15,046	43,342	17,119	17,119	574	-21,300	-44,566	-30,261	21,873	110,021	8,902	-84,124	0	0	0	0	0	0
Change In Working Capital	83,794	33,202	-50,573	81,109	-227,319	-102,778	-8,916	-50,470	1,047,494	-262,444	717	-310,525	-36,115	-114,639	-372,534	-131,393	-23,328	46,942	-83,661	-22,319	56,862	-17,226	-62,092	27,237	-4,505	46,528	-17,821	40,518	99,634	108,061	27,272	30,105	230,249	-60,054	23,746	-23,553	64,476	37,463	30,357	-4,171	4,354	4,099	-8,802	861	-22,332	18,384	-6,376	456	-2,700	5,710	-10,580	-99,981	-2,637	-8,695	-7,311	13,147	1,119	10,407	-36,395	-35,536	-35,536	-34,477	-2,953	-12,944	-7,818	-251	-11,499	-53,382	119,987	0	0	0	0	0	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,713	-23,338	93,474	-27,988	2,999	-8,164	4,737	39,590	144,264	66,461	66,890	-45,496	19,996	9,226	-108,068	-49,342	6,673	5,651	33,964	-55,039	67,269	-18,164	-13,322	-15,944	-7,879	12,259	-18,085	3,138	-33,680	33,397	9,364	30,984	68,576	-28,096	-1,804	9,792	13,935	54,867	33,745	-8,000	7,000	5,000	-1,000	-1,000	7,000	0	5,795	6,487	0	51,000	-4,000	-61,000	67,000	-12,000	2,000	66,000	-67,000	-2,000	-22,000	-6,784	-6,784	31,000	-5,000	-29,000	-9,000	2,000	3,000	-7,000	3,000	36,442	0	0	68,869	0	0
Change To Inventory	0	-135,140	78,505	-100,423	0	119,357	47,110	100,838	-130,333	0	0	0	0	0	0	3,157	3,274	50,789	-36,964	10,715	24,029	-18,000	0	2,000	3,000	5,000	12,000	-6,000	8,000	86,000	53,000	60,000	44,000	0	0	5,000	0	0	0	0	0	0	0	0	430	661	1,697	5,089	2,517	-20,496	247	-368	-8,578	2,885	3,463	5,413	2,092	35,867	-17,205	-14,683	-14,683	-7,061	5,802	10,473	-4,513	24,899	-22,705	10,779	8,617	0	0	0	0	0	0
Change To Liabilities	0	134,247	-78,661	0	-258,321	-131,853	-51,007	-100,838	376,629	-113,113	41,640	-174,823	-38,709	-90,697	-10,733	13,962	36,592	589	-80,042	42,892	-31,413	36,286	-72,349	42,618	19,978	-3,408	-36,868	36,065	-32,183	0	0	0	33,502	0	0	0	21,825	0	0	0	43,779	0	0	0	0	0	0	0	0	0	0	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 Netincome	0	-517,014	-517,014	-517,014	587,860	118,738	181,817	2,670,232	-21,311	206,595	110,533	70,350	239,222	1,075,073	7,601	51,391	47,675	66,060	83,902	88,951	46,161	40,083	-20,974	-884	192,998	53,944	80,164	39,872	202,590	0	0	0	99,295	0	0	0	-20,228	0	0	0	-6,940	0	0	0	0	0	0	0	0	0	0	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	-77,707	-77,707	-77,707	28,003	37,239	37,354	10,778	526,601	-215,792	-107,813	-90,206	-17,402	-33,168	-253,733	-96,013	-66,593	40,702	-37,583	-10,172	21,006	-35,348	23,579	563	55,309	37,677	37,132	1,315	257,190	43,075	63,000	0	88,418	0	0	0	12,704	0	0	0	-32,760	0	0	0	0	0	0	0	0	0	0	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	631,445	623,012	615,604	610,517	593,715	580,934	580,744	634,414	555,839	393,366	392,162	396,558	401,787	415,970	411,818	415,798	415,866	415,313	419,093	425,849	428,516	415,333	422,086	425,453	428,227	431,026	438,910	442,765	438,152	444,612	456,466	471,942	477,072	465,174	465,307	458,492	467,324	461,496	279,982	91,393	90,943	89,381	85,429	80,723	84,718	96,239	95,962	92,005	93,214	101,955	103,410	103,595	99,813	95,875	93,556	66,580	64,045	58,957	57,658	49,850	49,850	42,359	46,428	45,370	2,874	41,384	70,017	37,620	31,516	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	266	0	0	0	10,501	0	0	0	10,501	0	0	0	10,501	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	29,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
End Period Cash Flow	1,825,466	2,606,664	1,316,987	1,263,667	1,756,770	1,256,716	1,402,449	1,346,234	1,914,753	1,534,505	1,593,365	1,675,456	1,495,290	3,525,786	2,643,121	4,882,543	1,300,347	1,196,613	970,285	2,574,231	1,415,035	1,408,769	1,858,473	2,452,130	1,659,669	1,454,233	1,601,080	1,935,630	2,035,447	2,228,019	2,584,552	2,929,232	2,403,098	1,301,492	1,568,345	1,594,018	1,490,369	1,744,294	1,731,435	320,136	295,514	318,098	156,929	375,417	520,401	309,654	474,251	424,694	411,081	274,337	344,061	322,450	404,450	285,763	260,256	225,908	182,617	203,377	218,423	193,563	193,563	176,444	175,870	197,170	241,736	271,997	250,124	140,103	131,201	215,000	0	0	0	0	0
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-170,129	-267,536	-145,520	-377,334	605,855	-71,176	486,939	277,772	758,747	474,912	360,948	309,434	339,790	553,719	-163,607	216,756	-548,119	-532,532	-192,250	-349,909	-1,464,084	-526,350	-725,957	-391,646	-1,289,914	-557,863	-167,911	-69,351	-488,963	-25,425	-91,120	146,590	63,626	258,462	-123,096	-402,608	-109,168	125,486	-233,971	-32,266	-114,810	-120,444	-818,702	-273,394	-234,501	-17,429	-67,756	-110,681	90,988	262	3,457	-283,386	-20,671	-343,069	-560,106	-549,686	-354,325	-271,195	-330,628	-398,158	-398,158	-138,913	-700,920	-174,565	-252,133	-44,560	-157,981	-221,696	-361,371	-274,091	0	0	-28,672	0	0
Investments	-628,592	-303,088	-973,213	-1,278,075	-453,625	-844,191	-216,131	-646,552	-23,038,289	-187,305	-302,622	69,280	-220,831	69,961	-326,217	-235,201	-714,558	-910,928	-546,068	-783,189	0	0	0	0	91,918	0	0	0	74,207	0	0	0	54,975	0	0	0	40,983	0	0	0	-13,180	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,255,915	-12,652	-12,652	-837,246	-596,592	-1,001,206	-1,327,042	21,714,719	-566,894	-455,767	-168,906	-2,328,220	476,954	-2,043,994	3,281,578	218,426	277,937	-1,740,943	1,279,060	1,141,738	-113,096	-309,204	509,867	900,949	149,988	-298,186	-128,358	-1,571,558	0	0	0	-129,903	0	0	0	584,827	0	0	0	410,512	0	0	0	0	0	0	0	0	0	0	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	1,105,838	1,109,003	496,870	435,277	497,613	441,348	340,562	-2,000,681	90,497	441,029	249,859	228,025	28,470	-850,802	247,605	279,804	313,495	271,991	334,394	246,897	233,154	264,277	254,347	265,719	270,144	266,103	282,870	261,236	365,415	220,378	230,582	223,141	264,712	294,398	308,692	309,370	275,042	342,286	137,467	53,703	65,860	85,519	76,459	67,564	9,082	56,643	28,280	64,437	76,461	-6,948	30,708	72,529	75,520	59,437	57,616	44,247	70,076	39,187	63,160	-18,998	-18,998	51,331	68,596	50,876	45,115	48,606	34,195	60,537	-17,146	46,665	34,856	35,515	26,748	22,915	33,700
Other Cashflows From Financing Activities	157,677	2,891,245	1,335,234	1,298,807	238,499	583,614	108,073	156,500	24,987,675	123,471	51,963	1,070,420	653,268	3,069,920	2,512,768	4,226,504	1,244,429	1,331,640	2,428,384	1,875,312	1,581,696	1,734,317	868,180	1,611,135	1,679,434	1,449,668	747,535	1,870,030	669,670	762,575	1,604,933	780,499	1,207,877	701,647	1,000,338	418,198	1,062,593	1,543,309	2,771,835	183,095	489,464	458,118	1,077,033	282,009	369,431	121,733	476,689	372,143	208,329	349,675	706,998	406,884	218,815	515,288	893,044	794,931	613,796	576,577	953,275	493,132	493,132	22,796	500,286	151,351	139,225	-197,656	270,121	109,389	242,334	7,743	0	0	366,213	0	0
Other Cashflows From Investing Activities	0	2,097,853	828,162	462,660	1,711,073	-16,926	77,558	7,125	-21,669,155	393,373	267,779	160,198	471,437	379,518	322,241	176,961	1,773,749	1,171,869	733,146	312,420	-146	-424	-8,421	-12,514	1,741,219	1,164,856	685,067	400,267	2,344,564	1,814,924	889,825	341,952	1,494,835	1,040,113	472,165	112,829	569,633	487,555	452,421	91,500	651,235	564,072	474,322	145,307	781,278	328,321	220,655	107,967	260,702	115,828	59,351	25,943	655,212	584,619	416,757	133,620	153,481	80,243	78,352	1,792	510,222	331,017	226,370	74,860	430,886	315,644	168,388	110,111	242,563	218,481	0	0	104,581	0	0
Other Non Cash Items	693,451	-595,141	25,655	148,383	512,802	101,497	180,771	3,003,464	157,674	133,056	60,347	-5,305	188,356	23,407	-100,390	138,664	671,437	18,294	22,860	198,482	864,432	-53,892	-66,552	293,158	-116,054	-60,345	-52,011	-46,360	-142,292	-77,043	-97,470	-174,259	-180,189	-58,802	-177,613	-8,964	19,484	-48,747	-44,346	15,526	5,626	9,092	-14,652	-2,086	58,719	12,347	36,990	3,214	4,970	98,726	21,454	-1,094	-20,331	-2,213	19,721	7,958	-24,264	8,528	-1,362	40,566	40,566	24,763	-903	2,184	11,925	5,960	107	2,305	-8,743	0	0	0	0	0	0
Sale Purchase Of Stock	-671,197	-1,176,379	-288,982	-501,031	-1,581	-7,698	-4,623	-3,517	-8,767	-50,950	-14,662	-1,841	-7,998	-943	-265	-118,571	-214,332	-105,551	-179,080	-140,978	-237,351	-88,367	-195,309	-313,371	-274,877	-267,296	-299,581	-297,028	-242,251	-235,087	-297,049	-246,732	-1,472	-11,136	-781,300	0	-793,945	0	0	0	0	0	0	0	-102,678	-154,695	-62,719	0	-39,368	-59,183	-1,400	0	110,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	143,600	0	0	0	0	0	0
Stock Based Compensation	-1,186,637	21,410	21,806	26,863	23,620	24,847	26,878	27,503	32,131	21,970	26,060	0	69,187	1,173,494	81,349	-118,571	-639,941	20,926	31,572	-140,978	-834,398	67,582	22,159	-313,371	96,224	103,864	104,672	67,205	120,799	93,605	125,293	255,499	190,171	108,935	191,549	-29,005	-41,126	25,729	15,147	2,355	2,378	2,394	2,430	2,090	1,917	1,813	1,932	1,465	1,469	465	2,029	2,273	1,746	99	678	879	1,000	912	996	1,475	1,475	-14,534	-31,424	-20,954	-6,192	-32,434	-18,654	-38,406	50,241	0	0	0	0	0	0
Total Cash From Financing Activities	-1,540,883	289,030	-166,463	-579,729	-600,328	-403,676	-897,756	-1,259,055	21,683,534	-660,403	-550,646	-288,684	-2,463,446	270,096	-2,221,493	3,189,511	48,668	321,660	-1,832,422	1,197,088	965,813	-93,695	-484,516	212,808	928,812	-70,801	-522,890	-422,689	-352,053	-1,274,064	-791,738	689	604,392	-1,100,547	-218,722	-13,414	-201,295	-296,972	1,272,489	-40,165	-2,339	219,318	230,212	-7,822	-16,304	-235,018	-6,981	83,037	-109,790	-70,160	-36,346	163,075	56,813	187,483	350,223	423,112	280,918	243,103	281,331	186,160	186,160	22,796	500,286	151,351	139,225	-197,656	270,121	109,389	242,334	201,224	0	0	1,363,467	0	0
Total Cash From Operating Activities	1,345,901	1,305,243	1,193,195	1,363,401	1,550,572	1,111,940	1,171,894	1,336,556	1,734,508	787,811	771,151	400,352	652,540	541,035	307,890	628,918	768,319	817,119	774,544	745,700	778,438	716,716	607,250	737,968	724,312	817,242	797,154	801,509	935,240	831,098	776,121	838,773	953,810	796,396	859,487	750,347	798,338	885,004	454,526	158,831	174,502	198,068	147,380	148,859	131,874	187,352	158,192	166,172	184,732	202,377	149,267	85,181	159,576	150,510	167,780	137,576	112,341	118,715	83,955	22,196	22,196	72,971	86,300	68,966	49,297	61,145	76,813	18,683	172,087	176,292	0	0	216,513	0	0
Total Cashflows From Investing Activities	0	-2,554,376	-2,251,288	-1,278,075	-2,160,499	-844,191	-216,131	-646,552	-23,458,936	-187,305	-302,622	69,280	-220,831	69,961	-326,217	-235,201	-714,558	-2,240,185	-1,329,257	-783,189	-1,737,757	-1,073,078	-718,873	-522,902	-3,427,395	-893,310	-608,401	-478,678	-1,331,112	86,328	-328,000	0	-1,715,905	0	0	0	-1,848,790	0	0	0	-1,335,441	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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
Cost Of Revenue	3,237,016	4,805,277	3,287,413	3,217,133	3,259,091	3,299,635	3,377,439	3,465,727	3,776,407	2,252,878	613,082	721,607	724,197	1,439,767	640,299	964,957	847,027	561,509	115,425	85,298	6,657	11,012
Depreciation And Amortization	2,480,578	2,389,807	1,737,925	1,645,373	1,676,121	1,691,388	1,740,928	1,811,172	1,866,045	1,354,034	346,476	368,924	402,174	355,824	236,697	184,007	151,895	112,519	118,888	125,877	143,303	202,395
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	3,192,991	4,521,341	1,454,416	2,383,288	1,480,940	1,239,305	1,387,654	1,470,388	1,516,195	1,153,639	385,198	164,604	538,131	287,736	278,378	178,070	212,421	103,732	208,194	263,613	188,572	30,563
Ebitda	5,673,569	6,911,148	3,192,341	4,028,661	3,157,061	2,930,693	3,128,582	3,281,560	3,382,240	2,507,673	731,674	533,528	940,305	643,560	515,075	362,077	364,316	216,251	327,082	389,490	331,875	232,958
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
Extraordinary Items	0	0	0	0	0	0	-22,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	3,657,119	2,109,708	1,301,517	1,276,496	1,678,249	1,500,345	1,660,054	1,686,404	1,822,255	1,282,919	416,333	233,602	366,965	382,879	350,894	279,546	315,151	238,838	377,655	305,569	464,287	498,662
Income Before Tax	3,272,186	-1,002,420	1,147,917	-314,618	1,340,642	1,150,933	1,235,872	1,200,396	1,365,699	916,898	310,791	154,879	230,051	258,862	210,265	140,492	212,421	103,732	98,060	-105,194	65,137	-236,665
Income Tax Expense	291,056	-164,097	162,537	-17,231	167,714	144,079	164,718	173,496	189,805	137,373	26,026	8,067	15,460	22,316	3,894	-431	25,123	16,324	14,697	168	28,222	-58,569
Interest Expense	1,993,453	1,591,870	1,230,466	1,248,225	1,295,020	1,174,074	1,112,391	1,091,861	1,099,884	780,349	226,329	23,900	292,486	240,258	92,152	219,172	234,770	166,219	114,599	113,132	123,435	267,228
Interest Income	0	1,609,546	1,228,165	1,391,735	1,295,020	1,174,074	1,112,391	1,091,861	1,099,884	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-11,754	-4,883	-8,924	68,016	67,308	52,566	59,104	57,817	76,846	78,771	2,992	0	526	29,247	41,205	0	0	0	0	0	0	0
Net Income	3,136,091	-838,323	1,000,507	-297,387	1,145,694	1,015,632	1,076,151	1,046,630	1,178,730	810,447	292,410	163,656	172,224	207,573	165,166	151,806	188,453	87,996	83,363	-105,362	36,915	-277,587
Net Income Applicable To Common Shares	0	-726,041	1,000,507	-298,566	1,145,694	1,015,632	1,076,151	1,046,630	1,178,730	810,447	292,410	163,655	224,969	207,573	165,166	151,806	188,453	87,996	83,363	0	0	0
Net Income From Continuing Ops	3,147,845	-721,158	1,009,431	-294,923	1,166,777	1,017,497	1,080,353	1,039,516	1,177,172	808,498	295,402	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	0	0	-1,230,466	-1,174,921	-1,241,226	-1,127,049	-1,031,219	-964,173	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
Non Recurring	0	0	0	0	0	0	61,286	81,607	16,335	21,828	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	3,192,991	4,521,341	1,454,416	2,383,288	1,480,940	1,195,119	2,424,154	2,373,864	2,481,918	1,867,867	310,791	151,965	230,051	513,557	337,956	162,181	447,191	269,951	212,659	142,609	188,572	30,563
Other Items	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	3,701,144	5,204,807	3,605,301	3,459,294	3,526,549	3,604,861	3,725,730	3,816,739	4,157,715	2,552,778	681,431	790,596	555,792	1,549,347	745,389	1,085,222	949,757	696,615	280,421	248,258	282,372	479,111
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	2,480,578	2,389,807	1,737,925	1,645,373	1,676,121	1,691,388	1,740,928	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
Selling And Marketing Expenses	92,797	60,943	27,099	30,755	34,171	35,139	35,811	43,927	46,489	231,700	79,700	78,800	42,989	120,228	116,201	128,268	15,992	10,896	0	0	0	0
Selling General Administrative	371,331	338,587	290,789	211,406	233,287	270,087	312,480	307,085	334,819	68,200	9,300	7,500	191,247	188,330	194,455	198,349	100,336	138,468	52,671	37,083	39,267	40,472
Tax Provision	291,056	-164,097	162,537	-17,231	167,714	144,079	142,718	173,496	189,805	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	464,128	399,530	317,888	242,161	267,458	305,226	348,291	351,012	381,308	299,900	68,349	68,989	555,792	109,580	105,090	120,265	102,730	135,106	164,996	162,960	275,715	468,099
Total Other Income Expense Net	79,195	-5,523,761	-306,499	-2,697,906	-140,298	-44,186	-75,891	-134,996	-75,248	-66,129	-37,214	-33,625	-15,594	-14,437	-35,539	-18,789	-234,770	-166,219	4,465	-121,004	-123,435	-267,228
Total Revenue	6,894,135	6,914,985	4,588,930	4,493,629	4,937,340	4,799,980	5,037,493	5,152,131	5,598,662	3,535,797	1,029,415	955,209	1,091,162	1,822,646	991,193	1,244,503	1,162,178	800,347	493,080	390,867	470,944	509,674

	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
Cost Of Revenue	766,650	1,235,975	1,272,218	1,272,748	1,274,895	1,133,159	1,173,969	1,223,254	1,087,349	734,098	744,059	467,345	803,774	774,497	801,150	837,712	818,860	771,704	816,778	851,749	874,479	789,618	805,908	829,630	838,087	846,356	846,368	846,628	829,518	842,485	875,148	918,576	977,971	935,778	966,504	899,112	857,913	751,025	471,266	165,573	163,416	156,643	140,868	152,155	158,259	25,400	18,800	21,500	580,176	78,057	78,965	86,926	272,888	202,053	316,747	156,138	170,794	39,973	105,496	327,306	327,306	108,850	163,253	113,659	503,830	155,755	72,905	124,240	332,722	76,263	38,772	28,105	20,021	7,644	81,197	-
Depreciation And Amortization	631,445	623,012	615,604	610,517	593,715	580,934	580,744	634,414	555,839	393,366	392,162	396,558	401,787	415,970	411,818	415,798	415,866	415,313	419,093	425,849	428,516	415,333	422,086	425,453	428,227	431,026	438,910	442,765	438,152	444,612	456,466	471,942	477,072	465,174	465,307	458,492	467,324	461,496	279,982	91,393	90,943	89,381	85,429	80,723	84,718	96,239	95,962	92,005	93,214	101,955	103,410	103,595	99,813	95,875	93,556	66,580	64,045	58,957	57,658	49,850	49,850	42,359	46,428	45,370	2,874	41,384	70,017	37,620	31,516	24,116	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	-
Ebit	837,967	-91,286	525,244	496,521	434,498	480,784	386,932	3,219,127	378,967	360,489	348,534	548,706	295,505	1,335,260	402,695	349,828	382,893	388,837	417,774	291,436	289,692	326,341	317,450	305,822	339,049	389,235	342,779	316,591	461,971	346,878	291,895	369,644	413,791	366,676	362,074	373,654	-101,925	411,477	358,976	98,239	117,266	107,740	81,940	77,261	16,290	129,054	119,828	131,545	-116,038	137,633	121,705	146,542	99,854	143,486	140,728	99,987	94,048	73,197	83,709	-24,075	-24,075	107,870	97,210	104,839	-133,300	116,314	108,583	120,788	-132,206	72,640	0	0	0	0	0	-
Ebitda	1,469,412	531,726	1,140,848	1,107,038	1,028,213	1,061,718	967,676	3,853,541	934,806	753,855	740,696	945,264	697,292	1,751,230	814,513	765,626	798,759	804,150	836,867	717,285	718,208	741,674	739,536	731,275	767,276	820,261	781,689	759,356	900,123	791,490	748,361	841,586	890,863	831,850	827,381	832,146	365,399	872,973	638,958	189,632	208,209	197,121	167,369	157,984	101,008	225,293	215,790	223,550	-22,824	239,588	225,115	250,137	199,667	239,361	234,284	166,567	158,093	132,154	141,367	25,775	25,775	150,229	143,638	150,209	-130,426	157,698	178,600	158,408	-100,690	96,756	200,932	200,932	-128,704	123,270	123,270	123,270
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	-
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	-
Gross Profit	959,846	655,692	650,834	592,974	524,074	561,481	457,391	566,762	354,832	277,888	295,354	604,637	227,843	252,059	396,129	400,465	438,092	422,381	464,498	353,278	345,206	376,899	388,744	389,496	424,922	427,552	417,382	390,198	539,039	383,575	364,348	399,442	465,576	447,332	449,694	459,653	451,013	487,000	320,572	94,819	109,331	117,911	101,061	88,030	29,049	269,113	252,555	257,278	-412,639	259,118	284,648	274,657	121,030	275,287	276,379	207,898	113,986	172,537	189,199	-3,653	-3,653	193,084	170,100	180,874	-233,614	180,119	173,711	185,232	-135,171	124,669	200,932	200,932	151,717	123,270	123,270	123,270
Income Before Tax	1,086,955	1,178,661	538,243	468,327	459,331	461,062	357,458	-2,280,271	92,159	501,313	288,687	265,758	32,689	-952,978	283,737	321,934	350,631	326,501	382,136	281,374	259,178	300,655	289,494	301,606	318,283	298,029	322,719	296,841	422,571	258,772	263,869	255,184	310,203	345,606	354,398	355,492	329,594	388,026	170,966	54,652	67,740	90,138	82,098	70,815	5,659	55,468	26,174	67,578	78,124	45,725	30,674	75,920	81,944	65,581	62,478	48,859	70,499	39,971	63,987	-46,275	-46,275	53,942	77,582	55,243	43,814	58,046	40,221	70,304	-20,774	41,502	41,369	45,345	33,232	27,001	37,827	-
Income Tax Expense	39,038	110,677	75,747	65,594	-141	64,307	50,044	-278,307	20,010	62,132	40,531	39,864	7,080	-106,077	38,305	43,461	39,013	42,445	49,677	36,579	28,147	39,089	37,615	39,228	50,019	34,158	41,956	38,585	60,712	42,711	35,624	34,449	47,311	46,658	47,846	47,990	34,595	66,777	35,964	4,647	5,367	7,661	7,333	5,665	-162	732	1,619	5,878	5,374	2,532	2,483	6,045	6,424	6,144	4,862	4,886	423	784	827	-15,851	-15,851	3,896	6,955	4,570	152	9,288	5,657	10,019	-3,770	6,698	-35,047	-35,047	-20,841	-20,841	-20,841	-20,841
Interest Expense	529,594	503,187	490,357	-1,178	1,211,085	390,809	399,994	380,785	369,549	287,213	292,887	280,817	310,534	307,316	311,758	318,617	316,089	312,311	332,441	334,179	322,678	292,082	284,865	274,449	271,500	280,195	275,018	285,678	252,679	273,905	280,715	284,562	274,410	282,855	255,014	287,605	280,310	266,964	172,369	63,005	56,987	63,654	47,119	58,569	62,301	66,097	93,654	63,967	62,795	88,074	86,047	62,873	38,183	75,144	75,529	51,402	23,833	32,844	5,989	98,990	98,990	50,958	19,628	49,596	57,656	58,268	68,362	50,500	54,787	37,144	31,421	28,203	19,874	24,868	69,857	-
Interest Income	0	457,554	432,635	426,977	417,816	398,600	412,458	380,672	366,941	285,057	292,887	16,790	339,623	435,679	297,816	318,617	316,089	312,311	332,441	334,179	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-857	-3,749	-3,976	-3,172	-2,606	-1,392	-736	-149	-1,687	-7,108	67,962	67,909	68,016	68,116	69,086	69,060	67,308	65,075	65,166	63,603	52,566	53,740	54,349	55,654	3,893	256	-344,877	63	765	0	-61	61	503	481	0	0	77,430	1,341	0	0	237	1,871	770	114	0	0	0	0	73	147	-440	440	3,079	7,559	8,761	9,848	26,912	3,735	6,564	3,994	0	-2,031	2,031	0	-152	152	398	0	142	0	0	0	0	0	0	-
Net Income	1,105,838	1,105,254	492,894	432,105	495,007	439,956	339,826	-2,001,964	88,810	433,921	249,751	228,025	28,478	-849,929	246,061	276,824	309,758	270,290	331,460	234,186	232,642	263,351	254,240	265,399	266,251	265,847	282,880	261,173	364,650	225,627	233,273	223,080	264,209	293,917	309,109	311,495	298,220	340,945	138,301	54,711	65,623	83,648	75,689	67,450	11,154	57,911	29,581	65,010	76,388	-7,095	30,842	72,089	72,441	51,878	48,855	34,399	43,164	35,452	56,596	-18,998	-18,998	51,331	68,596	50,876	45,115	48,606	34,166	60,537	-17,146	35,047	35,047	35,047	20,841	20,841	20,841	20,841
Net Income Applicable To Common Shares	0	1,105,254	492,894	432,105	495,007	439,956	339,826	-2,000,830	88,810	433,921	249,751	228,025	28,478	-849,929	246,061	276,824	309,758	270,290	331,460	234,186	232,642	263,351	254,240	265,399	266,251	265,847	282,880	261,173	364,650	225,627	233,273	223,080	264,209	293,917	309,109	311,495	298,223	333,841	123,672	54,711	65,623	83,648	75,689	67,450	11,153	57,911	29,581	65,010	75,070	46,386	30,778	72,735	72,441	51,878	48,855	34,399	43,164	35,452	56,596	29,954	100,475	51,331	68,596	50,876	45,115	48,606	34,166	60,566	41,331	46,665	34,856	35,515	26,748	22,915	33,700	-
Net Income From Continuing Ops	1,106,695	1,109,003	496,870	435,277	497,613	441,348	340,562	-2,000,681	90,497	441,029	249,859	228,046	28,470	-850,802	247,605	279,804	313,495	271,991	334,394	246,897	233,154	264,277	254,347	265,719	-2,996,120	5,622,255	-1,807,018	261,236	1,039,516	0	0	0	1,177,172	0	0	0	808,498	0	0	0	295,402	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	-380,785	-369,549	-272,851	13,053	-264,027	-290,460	-277,929	-298,009	-308,523	-306,874	-300,274	-317,882	-316,196	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-
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	61,286	0	0	0	81,607	0	0	0	16,335	0	0	0	21,828	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	837,967	-91,286	525,244	496,521	434,498	480,784	386,932	3,219,127	478,369	209,691	222,283	548,063	164,097	191,141	343,216	335,881	366,762	357,669	399,955	286,405	274,435	313,498	303,472	303,714	600,166	623,827	607,767	592,394	686,678	547,754	555,058	584,374	592,849	631,084	610,503	744,863	641,790	393,248	343,622	54,652	67,740	153,792	129,217	129,384	-225,369	129,054	119,828	131,545	-151,567	133,799	116,721	138,793	129,082	142,738	140,728	100,261	16,387	73,197	83,709	-152,457	-152,457	104,900	97,210	104,839	101,470	116,314	108,583	120,788	34,013	78,645	200,932	200,932	-128,704	123,270	123,270	123,270
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	-
Other Operating Expenses	888,529	1,347,883	1,391,955	1,383,352	1,366,759	1,238,478	1,278,841	1,320,729	1,206,618	802,295	817,130	523,919	867,520	835,415	854,063	902,296	890,190	836,416	881,321	918,622	945,250	853,019	891,180	915,412	934,343	930,276	931,001	930,110	926,286	923,235	961,614	1,005,604	1,081,550	1,026,969	1,057,962	994,192	975,413	844,777	534,335	183,931	180,229	175,615	159,910	166,147	176,344	140,464	133,051	126,355	305,282	200,210	242,644	215,730	303,019	334,602	453,945	263,775	201,974	139,313	210,986	358,828	358,828	197,034	236,143	189,694	403,516	219,560	138,033	188,684	329,757	122,287	0	0	280,421	0	0	-
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	631,445	623,012	615,604	610,517	593,715	580,934	580,744	634,414	555,839	393,366	392,162	396,558	401,787	415,970	411,818	415,798	415,866	415,313	419,093	425,849	428,516	415,333	422,086	425,453	428,227	431,026	438,910	442,765	438,152	444,612	456,466	471,942	477,072	465,174	465,307	458,492	467,324	461,496	279,982	91,393	90,943	89,381	85,429	80,723	84,718	96,239	95,962	92,005	93,214	101,955	103,410	103,595	99,812	95,875	93,556	66,580	64,045	58,957	57,658	56,037	49,850	42,359	46,428	45,370	2,874	41,384	70,017	37,620	31,516	24,116	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	-
Selling And Marketing Expenses	22,429	23,310	27,100	19,958	12,365	20,108	18,554	9,915	7,556	5,633	8,530	602	6,099	7,033	6,804	10,817	8,770	9,195	8,396	7,810	9,887	8,967	6,775	9,510	8,469	9,373	8,294	9,675	11,095	8,934	13,963	9,936	13,075	12,246	11,642	9,526	92,600	12,335	9,781	20,400	19,500	3,535	2,477	3,496	21,100	0	0	0	0	0	36,840	0	33,740	0	0	0	33,405	0	0	31,616	31,616	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Selling General Administrative	99,450	88,598	92,637	90,646	79,499	85,211	86,318	87,560	111,713	62,564	64,541	51,194	57,647	53,885	46,109	53,767	62,560	55,517	56,147	59,063	60,884	54,434	78,497	76,272	87,787	74,547	76,339	73,807	85,673	71,816	72,503	77,092	90,504	78,945	79,816	85,554	24,900	81,417	53,288	2,400	2,400	20,255	21,675	16,132	1,900	47,100	39,964	37,327	24,700	20,900	25,593	22,400	58,104	42,089	50,825	43,520	51,902	41,722	53,126	49,688	34,300	33,200	33,400	31,200	34,600	28,200	27,900	26,400	83,500	21,908	20,995	9,835	19,231	10,720	22,720	-
Tax Provision	39,038	110,677	75,747	65,594	-141	64,307	50,044	-278,307	20,010	62,132	40,531	39,864	7,080	-106,077	38,305	43,461	39,013	42,445	49,677	36,579	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	121,879	111,908	119,737	110,604	91,864	105,319	104,872	97,475	119,269	68,197	73,071	56,574	63,746	60,918	52,913	64,584	71,330	64,712	64,543	66,873	70,771	63,401	85,272	85,782	96,256	83,920	84,633	83,482	96,768	80,750	86,466	87,028	103,579	91,191	91,458	95,080	117,500	93,752	63,069	18,358	16,813	18,972	19,042	13,992	18,085	140,464	133,051	126,355	-274,894	122,153	163,679	128,804	30,131	132,549	137,198	107,637	31,180	99,340	105,490	31,522	31,522	88,184	72,890	76,035	-100,314	63,805	65,128	64,444	-2,965	46,024	0	0	-280,421	0	0	-
Total Other Income Expense Net	248,988	635,070	7,182	-28,194	24,833	-19,722	-29,474	-5,499,398	-143,404	291,622	66,404	282,305	-131,408	-1,144,119	-59,479	-13,947	-16,131	-31,168	-17,819	-5,031	-15,257	-12,843	-13,978	-2,108	-10,383	-45,603	-10,030	-9,875	-19,700	-44,053	-14,013	-57,230	-51,794	-10,535	-3,838	-9,081	-3,925	-5,222	-86,537	-21,778	-24,748	-8,801	79	-3,223	-5,326	-7,489	-93,654	-63,967	-11,973	-3,834	-4,984	-7,749	-8,955	-2,761	-2,721	274	-12,307	-382	-13,733	-11,100	-11,100	-50,958	-19,628	-49,596	-57,656	-58,268	-68,362	-50,484	-54,787	6,005	0	0	0	0	0	-
Total Revenue	1,726,496	1,891,667	1,923,052	1,865,722	1,798,969	1,694,640	1,631,360	1,790,016	1,442,181	1,011,986	1,039,413	1,071,982	1,031,617	1,026,556	1,197,279	1,238,177	1,256,952	1,194,085	1,281,276	1,205,027	1,219,685	1,166,517	1,194,652	1,219,126	1,263,009	1,273,908	1,263,750	1,236,826	1,368,557	1,226,060	1,239,496	1,318,018	1,443,547	1,383,110	1,416,198	1,358,765	1,308,926	1,238,025	791,838	260,392	272,747	274,554	241,929	240,185	187,308	269,113	252,555	257,278	167,537	337,175	363,613	361,583	393,918	477,340	593,126	364,036	284,780	212,510	294,695	323,653	323,653	301,934	333,353	294,533	270,216	335,874	246,616	309,472	197,551	200,932	200,932	200,932	151,717	123,270	123,270	123,270

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

Gross Profit (+$)
totalRevenue	6,894,135
Cost of Revenue	-3,237,016
Gross Profit	3,657,119	3,657,119

Operating Income (+$)
Gross Profit	3,657,119
Operating Expense	-464,128
Operating Income	3,192,991	3,192,991

Operating Expense (+$)
Research Development	0
Selling General Administrative	371,331
Selling And Marketing Expenses	92,797
Operating Expense	464,128	464,128

Net Interest Income (+$)
Interest Income	0
Interest Expense	-1,993,453
Other Finance Cost	-1,993,453
Net Interest Income	0

Pretax Income (+$)
Operating Income	3,192,991
Net Interest Income	0
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	3,272,186	3,113,796 EBIT - interestExpense = 1,199,538 3,427,147 5,129,544
Interest Expense	1,993,453
Earnings Before Interest and Taxes (EBIT)	3,192,991	5,265,639
Earnings Before Interest and Taxes (EBITDA)	5,673,569

After tax Income (+$)
Income Before Tax	3,272,186
Tax Provision	-291,056
Net Income From Continuing Ops	3,147,845	2,981,130
Net Income	3,136,091
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	3,701,144
Total Other Income/Expenses Net	79,195	0

Technical Analysis of Aercap
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 Aercap. The general trend of Aercap 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 Aercap'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 AerCap Holdings NV.

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

Around resistance: The price is trading arround resistance levels. This can be considered as a potential exit level. -1

The bullish price targets are: 84.59 < 88.44.

The bearish price targets are: 80.61 > 75.96 > 75.83.

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AerCap Holdings NV 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 AerCap Holdings NV. 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.

AerCap Holdings NV 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 AerCap Holdings NV. The current macd is 0.11453701.

The long score for the Moving Average Convergence/Divergence (MACD) is 2/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 0/(-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 Aercap price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Aercap. 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 Aercap 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 up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

AerCap Holdings NV 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 AerCap Holdings NV. The current adx is 22.66.

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

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Aercap shares, leading to potential upward 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.

AerCap Holdings NV 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 AerCap Holdings NV. The current sar is 85.49.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

AerCap Holdings NV 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 AerCap Holdings NV. The current rsi is 52.08. The current phase is Continuation in bull market.

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

Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
Trending up: The RSI is trending up. +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.

AerCap Holdings NV 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 AerCap Holdings NV. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-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 above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Aercap price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

AerCap Holdings NV 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 AerCap Holdings NV. The current cci is -50.08700915.

AerCap Holdings NV 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 AerCap Holdings NV. The current cmo is 2.18400128.

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

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

AerCap Holdings NV 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 AerCap Holdings NV. The current willr is -61.9047619.

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 Aercap is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

AerCap Holdings NV 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 AerCap Holdings NV.

AerCap Holdings NV 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 AerCap Holdings NV. The current atr is 1.78827341.

AerCap Holdings NV 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 AerCap Holdings NV. The current obv is 31,920,653.

AerCap Holdings NV 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 AerCap Holdings NV. The current mfi is 57.41.

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

MFI > 50: +1

AerCap Holdings NV Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for AerCap Holdings NV.

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
2023-11-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-01	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.
2023-12-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-06	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-07	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	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).
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-18	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2023-12-19	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-20	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
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-22	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-28	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2023-12-29	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-03	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-04	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.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-05	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-10	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-12	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-17	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-19	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-22	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-24	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-30	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-02	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-06	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-07	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-08	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-13	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.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-14	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-15	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	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
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-22	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-23	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.
2024-02-26	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-02-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-01	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-05	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).
2024-03-06	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-07	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-14	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.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-22	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-25	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-03-26	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-01	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
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-04	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	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.
2024-04-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-10	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-11	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-12	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-04-15	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-16	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-17	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside

6.3. Candlestick Patterns

AerCap Holdings NV Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of AerCap Holdings NV based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	52.081
Ma 20	Greater than	Ma 50	85.201
Ma 50	Greater than	Ma 100	82.295
Ma 100	Greater than	Ma 200	78.017
Open	Greater than	Close	83.570
Total			4/5 (80.0%)

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AerCap Holdings NV Buy, Hold or Sell?

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Quick analysis of Aercap (30 sec.)

What can you expect buying and holding a share of Aercap? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Aercap (5 min.)

$84.41

$80.54

$-133.75 - $26.07

$-53.21 - $106.61

2. Growth of Aercap (5 min.)

Is Aercap growing?

How much money is Aercap making?

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

3. Financial Health of Aercap (5 min.)

4. Comparing to competitors in the Rental & Leasing Services industry (5 min.)

Industry Rankings (Rental & Leasing Services)

What can you expect buying and holding a share of Aercap? (5 min.)

What can you expect buying and holding a share of Aercap?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Aercap

About AerCap Holdings NV

Financial Health

Valuation

1.1. Profitability of AerCap Holdings NV.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Rental & Leasing Services)

1.1.2. Return on Assets

Trends

Compared to industry (Rental & Leasing Services)

1.1.3. Return on Equity

Trends

Compared to industry (Rental & Leasing Services)

1.2. Operating Efficiency of AerCap Holdings NV.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Rental & Leasing Services)

1.2.2. Operating Ratio

Trends

Compared to industry (Rental & Leasing Services)

1.3. Liquidity of AerCap Holdings NV.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Rental & Leasing Services)

1.3.2. Quick Ratio

Trends

Compared to industry (Rental & Leasing Services)

1.4. Solvency of AerCap Holdings NV.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Rental & Leasing Services)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Rental & Leasing Services)

2. Market Valuation of AerCap Holdings NV

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Rental & Leasing Services)

AerCap Holdings NV
Buy, Hold or Sell?