Moodys Corporation
Buy, Hold or Sell?

Let's analyse Moodys together

Penke I guess you are interested in Moodys Corporation. 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 Moodys Corporation. 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.

Get notifications about Moodys Corporation

I send you an email if I find something interesting about Moodys Corporation.

Quick analysis of Moodys (30 sec.)

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

How much money do you get?

$3.07

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$18.93

Expected worth in 1 year

$37.86

How sure are you?

80.0%

+ What do you gain per year?

Total Gains per Share

$22.00

Return On Investment

5.9%

For what price can you sell your share?

Current Price per Share

$374.60

Expected price per share

$347.33 - $402.38

How sure are you?

50%

1. Valuation of Moodys (5 min.)

Live pricePrice per Share (EOD)

$374.60

Book Value per Share

$18.93

Intrinsic Value Per Share

$-0.73 - $93.36

Total Value Per Share

$18.21 - $112.29

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

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($1.79) 3Y: ($2.22) TTM: ($2.55)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.03) 3Y: ($-0.10) TTM: ($0.14)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$5.97	$8.95	$5.59 - $9.27
2	$10.17	$18.02	$4.03 - $9.67
3	$12.80	$27.19	$2.47 - $10.07
4	$14.02	$36.46	$0.91 - $10.47
5	$13.97	$45.81	$-0.66 - $10.87
6	$12.80	$55.23	$-2.22 - $11.27
7	$10.63	$64.71	$-3.78 - $11.67
8	$7.59	$74.23	$-5.34 - $12.08
9	$3.77	$83.78	$-6.90 - $12.48
10	$-0.73	$93.36	$-8.47 - $12.88

2. Growth of Moodys (5 min.)

Is Moodys growing?

	Current year	Previous year	Grow	Grow %
How rich?	$3.4b	$1.8b	$1.4b	43.2%

How much money is Moodys making?

	Current year	Previous year	Grow	Grow %
Making money	$401.7m	$343.5m	$58.2m	14.5%
Net Profit Margin	27.2%	24.8%	-	-

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

Quarterly Yearly

3. Financial Health of Moodys (5 min.)

4. Comparing to competitors in the Financial Data & Stock Exchanges industry (5 min.)

Industry Rankings (Financial Data & Stock Exchanges)

Richest
#13 / 41

Most Revenue
#8 / 41

Most Profit
#9 / 41

Most Efficient
#19 / 41

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

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

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

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

Speculation

The Price per Share of Moodys is $374.60. 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 Moodys.
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 Moodys, 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 $18.93. Based on the TTM, the Book Value Change Per Share is $4.73 per quarter. Based on the YOY, the Book Value Change Per Share is $-3.89 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 $0.77 per quarter.

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

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	1.85	0.5%	2.18	0.6%	1.86	0.5%	2.24	0.6%	1.68	0.4%
Usd Book Value Change Per Share	0.72	0.2%	4.73	1.3%	-3.89	-1.0%	0.78	0.2%	0.47	0.1%
Usd Dividend Per Share	0.76	0.2%	0.77	0.2%	0.70	0.2%	0.63	0.2%	0.49	0.1%
Usd Total Gains Per Share	1.48	0.4%	5.50	1.5%	-3.19	-0.9%	1.40	0.4%	0.96	0.3%
Usd Price Per Share	390.56	-	340.12	-	282.78	-	289.16	-	202.58	-
Price to Earnings Ratio	52.73	-	40.17	-	39.73	-	33.80	-	33.30	-
Price-to-Total Gains Ratio	264.32	-	190.46	-	324.74	-	205.67	-	144.27	-
Price to Book Ratio	20.63	-	18.93	-	15.75	-	34.11	-	-5.86	-
Price-to-Total Gains Ratio	264.32	-	190.46	-	324.74	-	205.67	-	144.27	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	374.6
Number of shares	2

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.77	0.63
Usd Book Value Change Per Share	4.73	0.78
Usd Total Gains Per Share	5.50	1.40
Gains per Quarter (2 shares)	11.00	2.81
Gains per Year (2 shares)	44.00	11.22

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	6	38	34	5	6	1
2	12	76	78	10	12	12
3	18	114	122	15	19	23
4	25	151	166	20	25	34
5	31	189	210	25	31	45
6	37	227	254	30	37	56
7	43	265	298	35	44	67
8	49	303	342	40	50	78
9	55	341	386	45	56	89
10	61	379	430	50	62	100

How sure are you?

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

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	39.0	1.0	0.0	97.5%	101.0	1.0	0.0	99.0%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	8.0	4.0	0.0	66.7%	14.0	6.0	0.0	70.0%	25.0	13.0	2.0	62.5%	60.0	38.0	4.0	58.8%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	102.0	0.0	0.0	100.0%
Total Gains per Share	4.0	0.0	0.0	100.0%	10.0	2.0	0.0	83.3%	17.0	3.0	0.0	85.0%	32.0	8.0	0.0	80.0%	72.0	30.0	0.0	70.6%

Fundamentals of Moodys

About Moodys Corporation

https://www.moodys.com
Financial Data & Stock Exchanges
15151
7 World Trade Center, New York, NY, United States, 10007
Google Maps Bing Maps

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets. It also offers credit research, credit models and analytics, economics data and models, and structured finance solutions; data sets on companies and securities; and SaaS solutions supporting banking, insurance, and know your customer workflows. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as structured finance securities. The company was formerly known as Dun and Bradstreet Company and changed its name to Moody's Corporation in September 2000. Moody's Corporation was founded in 1900 and is headquartered in New York, New York.

Fundamental data was last updated by Penke on 2024-04-04 18:32:05.

Financial Health

Profitability Details

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

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very 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 expensive.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is fair priced.

1.1. Profitability of Moodys Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
A Net Profit Margin of 23.0% means that $0.23 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Moodys Corporation:

The MRQ is 23.0%. The company is making a huge profit. +2
The TTM is 27.2%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	23.0%	TTM	27.2%	-4.2%
TTM	27.2%	YOY	24.8%	+2.4%
TTM	27.2%	5Y	30.0%	-2.8%
5Y	30.0%	10Y	26.9%	+3.1%

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	23.0%	25.4%	-2.4%
TTM	27.2%	25.2%	+2.0%
YOY	24.8%	29.9%	-5.1%
5Y	30.0%	30.0%	0.0%
10Y	26.9%	29.9%	-3.0%

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

Revenue is the amount of profit Moodys 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 Moodys 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 Moodys to the Financial Data & Stock Exchanges industry mean.
Can be used to compare companies within the Financial Data & Stock Exchanges industry.

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

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Moodys. If profit margins remain low (compared to the Financial Data & Stock Exchanges 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 Moodys is 0.23. This means that Moodys earned $0.23 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 Financial Data & Stock Exchanges industry is 25.4%.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys with other companies in the same industry (Financial Data & Stock Exchanges).
Net profit margin should rise over the years.
Can be influenced when Moodys sells assets (profit will increase while costs remain the same).
It won’t show what part of Moodys 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 Moodys

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 Moodys = 340,000
Total revenue MRQ Moodys = 1,480,000
$340,000 / $1,480,000 = 0.23 or 23.0%

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 Moodys is using its assets to generate profit.

Above 5% is considered healthy but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
2.3% Return on Assets means that Moodys generated $0.02 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Moodys Corporation:

The MRQ is 2.3%. Using its assets, the company is less efficient in making profit.
The TTM is 2.8%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	2.3%	TTM	2.8%	-0.4%
TTM	2.8%	YOY	2.4%	+0.4%
TTM	2.8%	5Y	3.4%	-0.6%
5Y	3.4%	10Y	3.6%	-0.2%

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	2.3%	2.3%	+0.0%
TTM	2.8%	2.4%	+0.4%
YOY	2.4%	2.5%	-0.1%
5Y	3.4%	2.4%	+1.0%
10Y	3.6%	2.1%	+1.5%

Shows how efficient Moodys 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 Moodys to the Financial Data & Stock Exchanges 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 Moodys is using its resources to generate profit. If the return on assets (2.3%) from Moodys are higher than the Financial Data & Stock Exchanges mean (2.3%) that means Moodys 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 Moodys is 2.3%. 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 Financial Data & Stock Exchanges industry is 2.3%.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

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

Income statement
Balance sheet

Net income MRQ (income statement) from Moodys = 340,000
Total assets MRQ (balance sheet) from Moodys = 14,622,000
340,000 / 14,622,000 = 0.02 or 2.3%

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

Above 15%-20% is considered healthy but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
10.2% Return on Equity means Moodys generated $0.10 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Moodys Corporation:

The MRQ is 10.2%. Using its investors money, the company is less efficient in making profit.
The TTM is 12.9%. Using its investors money, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	10.2%	TTM	12.9%	-2.7%
TTM	12.9%	YOY	14.6%	-1.6%
TTM	12.9%	5Y	30.7%	-17.8%
5Y	30.7%	10Y	39.5%	-8.8%

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	10.2%	7.7%	+2.5%
TTM	12.9%	5.3%	+7.6%
YOY	14.6%	6.3%	+8.3%
5Y	30.7%	7.1%	+23.6%
10Y	39.5%	7.7%	+31.8%

Shows how efficient Moodys 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 Moodys to the Financial Data & Stock Exchanges 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 Financial Data & Stock Exchanges 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 Moodys is 10.2%. This means Moodys generated $0.10 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Financial Data & Stock Exchanges industry is 7.7%.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys up to 10 years back (depending if Moodys 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 Moodys

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Moodys = 340,000
Shareholders equity (balance sheet) MRQ Moodys = 3,318,000
340,000 / 3,318,000 = 0.10 or 10.2%

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 Moodys Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Moodys is operating .

Measures how much profit Moodys 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 Moodys to the Financial Data & Stock Exchanges industry mean.
An Operating Margin of 36.1% means the company generated $0.36 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Moodys Corporation:

The MRQ is 36.1%. The company is operating very efficient. +2
The TTM is 37.8%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	36.1%	TTM	37.8%	-1.7%
TTM	37.8%	YOY	36.0%	+1.8%
TTM	37.8%	5Y	42.4%	-4.6%
5Y	42.4%	10Y	43.0%	-0.6%

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	36.1%	35.3%	+0.8%
TTM	37.8%	33.4%	+4.4%
YOY	36.0%	39.6%	-3.6%
5Y	42.4%	40.4%	+2.0%
10Y	43.0%	39.9%	+3.1%

Measures how efficient Moodys 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 Moodys to the Financial Data & Stock Exchanges 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 Moodys 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 Moodys is 36.1%. This means that Moodys earned $0.36 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Financial Data & Stock Exchanges industry is 35.3%.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Moodys = 534,000
Total revenue MRQ Moodys = 1,480,000
$534,000 / $1,480,000 = 0.36 or 36.1%

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 Moodys is keeping operating costs low.

Below 1 is considered healthy (always compare to Financial Data & Stock Exchanges industry mean).
An Operation Ratio of 0.64 means that the operating costs are $0.64 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Moodys Corporation:

The MRQ is 0.639. The company is efficient in keeping operating costs low. +1
The TTM is 0.768. The company is efficient in keeping operating costs low. +1

Trends

Current period		Compared to		+/-
MRQ	0.639	TTM	0.768	-0.129
TTM	0.768	YOY	0.638	+0.130
TTM	0.768	5Y	0.613	+0.155
5Y	0.613	10Y	0.592	+0.021

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	0.639	0.752	-0.113
TTM	0.768	0.752	+0.016
YOY	0.638	0.732	-0.094
5Y	0.613	0.723	-0.110
10Y	0.592	0.691	-0.099

Measures how efficient Moodys 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 Moodys to the Financial Data & Stock Exchanges 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 Moodys is 63.9%. This means that Moodys earned $0.64 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 Financial Data & Stock Exchanges industry is 0.75.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

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
(518,000 +428,000) \ 1,480,000 = 0.64

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 Moodys Corporation.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to Financial Data & Stock Exchanges industry mean).
A Current Ratio of 1.69 means the company has $1.69 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Moodys Corporation:

The MRQ is 1.690. The company is able to pay all its short-term debts. +1
The TTM is 1.649. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	1.690	TTM	1.649	+0.041
TTM	1.649	YOY	1.568	+0.081
TTM	1.649	5Y	1.766	-0.117
5Y	1.766	10Y	2.004	-0.239

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	1.690	1.330	+0.360
TTM	1.649	1.334	+0.315
YOY	1.568	1.265	+0.303
5Y	1.766	1.520	+0.246
10Y	2.004	1.646	+0.358

Measures if Moodys 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 Financial Data & Stock Exchanges 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 Moodys 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 Moodys is 1.69. This means Moodys has $1.69 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Financial Data & Stock Exchanges industry is 1.33.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
4,225,000 \ 2,500,000) = 1.69

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

Above 1 is considered healthy but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
A Quick Ratio of 1.60 means the company can pay off $1.60 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Moodys Corporation:

The MRQ is 1.598. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 1.506. The company is very able to pay all its short-term debts with the most liquid assets. +2

Trends

Current period		Compared to		+/-
MRQ	1.598	TTM	1.506	+0.092
TTM	1.506	YOY	1.409	+0.097
TTM	1.506	5Y	1.623	-0.118
5Y	1.623	10Y	1.956	-0.333

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	1.598	1.002	+0.596
TTM	1.506	1.002	+0.504
YOY	1.409	1.058	+0.351
5Y	1.623	1.440	+0.183
10Y	1.956	1.472	+0.484

1.4. Solvency of Moodys Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

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

Below 1 (100%) is considered healthy but always compare Moodys to Financial Data & Stock Exchanges industry mean.
A Debt to Asset Ratio of 0.76 means that Moodys assets are financed with 76.2% credit (debt) and the remaining percentage (100% - 76.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Moodys Corporation:

The MRQ is 0.762. The company is just able to pay all its debts by selling its assets.
The TTM is 0.773. The company is just able to pay all its debts by selling its assets.

Trends

Current period		Compared to		+/-
MRQ	0.762	TTM	0.773	-0.011
TTM	0.773	YOY	0.869	-0.096
TTM	0.773	5Y	0.855	-0.082
5Y	0.855	10Y	0.938	-0.083

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	0.762	0.622	+0.140
TTM	0.773	0.607	+0.166
YOY	0.869	0.646	+0.223
5Y	0.855	0.629	+0.226
10Y	0.938	0.586	+0.352

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

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Moodys to Financial Data & Stock Exchanges 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 Moodys is 0.76. This means means that Moodys is financed with 76.2% 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 Financial Data & Stock Exchanges industry is 133.0%.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Moodys

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

Balance sheet
Debt to asset ratio = total debt \ total assets
11,146,000 \ 14,622,000 = 76.2% or 0.76.

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

Below 2 is considered healthy but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
A Debt to Equity ratio of 335.9% means that company has $3.36 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Moodys Corporation:

The MRQ is 3.359. The company is unable to pay all its debts with equity. -1
The TTM is 3.602. The company is unable to pay all its debts with equity. -1

Trends

Current period		Compared to		+/-
MRQ	3.359	TTM	3.602	-0.243
TTM	3.602	YOY	5.259	-1.657
TTM	3.602	5Y	7.704	-4.101
5Y	7.704	10Y	8.920	-1.216

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
MRQ	3.359	1.563	+1.796
TTM	3.602	1.443	+2.159
YOY	5.259	1.853	+3.406
5Y	7.704	2.057	+5.647
10Y	8.920	1.755	+7.165

Measures if Moodys 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 Moodys 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 Moodys is 3.36. This means that Moodys can pay off $3.36 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Financial Data & Stock Exchanges industry is 1.56.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
11,146,000 \ 3,318,000 = 3.36 or 335.9%

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 Moodys Corporation

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 Moodys generates.

Above 15 is considered overpriced but always compare Moodys to the Financial Data & Stock Exchanges industry mean.
A PE ratio of 52.73 means the investor is paying $52.73 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Moodys Corporation:

The EOD is 50.571. Based on the earnings, the company is expensive. -2
The MRQ is 52.726. Based on the earnings, the company is expensive. -2
The TTM is 40.169. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	50.571	MRQ	52.726	-2.155
MRQ	52.726	TTM	40.169	+12.556
TTM	40.169	YOY	39.732	+0.437
TTM	40.169	5Y	33.804	+6.365
5Y	33.804	10Y	33.300	+0.505

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
EOD	50.571	38.209	+12.362
MRQ	52.726	31.456	+21.270
TTM	40.169	29.033	+11.136
YOY	39.732	32.280	+7.452
5Y	33.804	33.804	+0.000
10Y	33.300	34.738	-1.438

Measures how much money you pay for each share for every $1 in earnings Moodys 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 Moodys to the Financial Data & Stock Exchanges 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 Moodys is 52.73. This means the investor is paying $52.73 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Financial Data & Stock Exchanges industry is 31.46.
What is the trend?
The trend is important because it shows you how Moodys is performing over time. The most recent quarter might be important if Moodys 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 Moodys 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 Moodys

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 \ 183,600 = EPS
PE ratio MRQ = 52.73

* 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 Moodys Corporation:

The EOD is 42.560. Based on how much money comes from the company's main activities, the company is fair priced.
The MRQ is 44.373. Based on how much money comes from the company's main activities, the company is fair priced.
The TTM is 34.248. Based on how much money comes from the company's main activities, the company is fair priced.

Trends

Current period		Compared to		+/-
EOD	42.560	MRQ	44.373	-1.813
MRQ	44.373	TTM	34.248	+10.125
TTM	34.248	YOY	45.323	-11.075
TTM	34.248	5Y	34.423	-0.175
5Y	34.423	10Y	26.390	+8.034

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
EOD	42.560	23.030	+19.530
MRQ	44.373	21.612	+22.761
TTM	34.248	21.654	+12.594
YOY	45.323	27.963	+17.360
5Y	34.423	25.525	+8.898
10Y	26.390	23.068	+3.322

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to Financial Data & Stock Exchanges industry mean).
A PB ratio of 20.63 means the investor is paying $20.63 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Moodys Corporation:

The EOD is 19.786. Based on the equity, the company is expensive. -2
The MRQ is 20.629. Based on the equity, the company is expensive. -2
The TTM is 18.934. Based on the equity, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	19.786	MRQ	20.629	-0.843
MRQ	20.629	TTM	18.934	+1.695
TTM	18.934	YOY	15.751	+3.183
TTM	18.934	5Y	34.109	-15.175
5Y	34.109	10Y	-5.856	+39.964

Compared to industry (Financial Data & Stock Exchanges)

Period	Company	Industry (mean)	+/-
EOD	19.786	3.416	+16.370
MRQ	20.629	3.482	+17.147
TTM	18.934	3.632	+15.302
YOY	15.751	3.964	+11.787
5Y	34.109	4.580	+29.529
10Y	-5.856	4.974	-10.830

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Moodys Corporation.

3.1. Institutions holding Moodys Corporation

Institutions are holding 80.497% of the shares of Moodys Corporation.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Berkshire Hathaway Inc	13.5131	2.7738	24669778	0	0
2023-12-31	Vanguard Group Inc	7.7585	0.1209	14164108	189676	1.3573
2023-12-31	BlackRock Inc	7.0827	0.1288	12930275	-771615	-5.6314
2023-12-31	TCI Fund Management Limited	6.6003	13.0843	12049611	1678594	16.1854
2023-12-31	State Street Corporation	3.7584	0.1304	6861429	331080	5.0699
2023-12-31	FMR Inc	2.9687	0.1626	5419700	1118447	26.0028
2023-12-31	Akre Capital Management, LLC	2.6166	15.6984	4776940	-317706	-6.2361
2023-12-31	Fiera Capital Corporation	2.1513	4.7088	3927405	-460070	-10.486
2023-12-31	Morgan Stanley - Brokerage Accounts	2.1348	0.1341	3897250	70484	1.8419
2023-12-31	Baillie Gifford & Co Limited.	1.9931	1.1261	3638551	-153121	-4.0384
2023-12-31	Geode Capital Management, LLC	1.6452	0.1224	3003516	65538	2.2307
2023-12-31	Goldman Sachs Group Inc	1.5651	0.1002	2857246	1708463	148.7194
2023-12-31	Bank of New York Mellon Corp	1.4057	0.2032	2566323	901126	54.1153
2023-12-31	Ninety One UK Limited	1.0495	2.2265	1916009	-3009	-0.1568
2023-12-31	NORGES BANK	1.0105	0.1259	1844792	316450	20.7054
2023-12-31	StonePine Asset Management Inc.	0.9717	7.4437	1773991	229831	14.8839
2023-12-31	Longview Partners (Guernsey) Ltd.	0.9381	4.4621	1712560	-124981	-6.8015
2023-12-31	Rothschild & Co Wealth Management UK Ltd	0.9145	10.6977	1669589	-24351	-1.4375
2023-12-31	Veritas Asset Management LLP	0.872	4.4755	1591921	-639750	-28.6669
2023-12-31	Northern Trust Corp	0.8656	0.1117	1580335	-81663	-4.9135
Total		61.8154	68.0371	112851329	+4033423	+3.6%

3.2. Funds holding Moodys Corporation

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.6707	0.1193	4875739	-10272	-0.2102
2023-10-31	Akre Focus Instl	2.5093	12.3771	4581000	-246244	-5.1011
2024-02-29	Vanguard Institutional 500 Index Trust	2.1526	0.1394	3929775	40524	1.0419
2024-01-31	Fidelity 500 Index	1.0235	0.1512	1868536	19124	1.0341
2024-02-29	SPDR® S&P 500 ETF Trust	1.0112	0.1394	1846051	11532	0.6286
2024-02-29	iShares Core S&P 500 ETF	0.8969	0.1392	1637358	4982	0.3052
2024-02-29	Vanguard Growth Index Investor	0.792	0.2468	1445912	12451	0.8686
2024-01-31	20UGS Pinestone Global Equity A USD acc	0.6101	6.0727	1113895	0	0
2024-01-31	Fidelity Magellan	0.5987	1.4215	1092958	-48800	-4.2741
2023-12-31	Capital Group New Perspective Comp	0.5766	0.3245	1052718	0	0
2023-12-31	American Funds New Perspective A	0.5766	0.3245	1052718	0	0
2024-02-29	Financial Select Sector SPDR® ETF	0.5747	1.0738	1049130	-1767	-0.1681
2024-02-29	Vanguard Institutional Index I	0.5679	0.139	1036780	-4243	-0.4076
2024-02-29	Vanguard Dividend Appreciation ETF	0.4974	0.3776	908029	6010	0.6663
2023-12-31	Morgan Stanley Glbl Franchise	0.4706	1.491	859095	-24294	-2.7501
2023-12-31	MS INVF Global Brands A USD	0.4706	1.4881	859095	-6051	-0.6994
2024-01-31	Ninety One GSF Glb Frchs I Acc USD	0.4478	3.8945	817494	0	0
2023-09-30	Ninety One Global Franchise	0.4478	3.4746	817494	-7306	-0.8858
2024-02-29	State St S&P 500® Indx SL Cl III	0.4172	0.1384	761667	3800	0.5014
2024-01-31	Fidelity Series International Growth	0.3558	1.7249	649559	-7900	-1.2016
Total		17.668	35.2575	32255003	-258454	-0.8%

3.3. Insider Transactions

Insiders are holding 13.762% of the shares of Moodys Corporation.

Date	Owner	Type	Amount	Price
2024-01-16	Robert Fauber	SELL	2547	376.5
2023-11-30	Robert Fauber	SELL	2546	360.43
2023-11-15	Robert Fauber	SELL	2546	350.76
2023-11-08	Michael L West	SELL	2754	338.38
2023-11-08	Richard G Steele	SELL	873	337.88
2023-10-31	Robert Fauber	SELL	2546	306.21
2023-10-13	Robert Fauber	SELL	2546	320.28
2023-09-29	Robert Fauber	SELL	2546	320.93
2023-09-15	Robert Fauber	SELL	2546	343.99
2023-08-31	Robert Fauber	SELL	2546	338.82
2023-08-16	Robert Fauber	SELL	2549	331.23
2023-08-10	Caroline Sullivan	SELL	297	339.04
2023-08-07	Mark Kaye	SELL	15158	340.97
2023-07-31	Michael L West	SELL	2641	352.79
2023-07-17	Robert Fauber	SELL	592	354.25
2023-07-14	Robert Fauber	SELL	282	351.24
2023-06-15	Robert Fauber	SELL	418	344.13
2023-06-01	Robert Fauber	SELL	2000	316.55

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Moodys Corporation 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	-	-	0.715	4.733	-85%	-3.890	+644%	0.777	-8%	0.473	+51%
Book Value Per Share	-	-	18.932	17.938	+6%	10.124	+87%	10.396	+82%	4.991	+279%
Current Ratio	-	-	1.690	1.649	+2%	1.568	+8%	1.766	-4%	2.004	-16%
Debt To Asset Ratio	-	-	0.762	0.773	-1%	0.869	-12%	0.855	-11%	0.938	-19%
Debt To Equity Ratio	-	-	3.359	3.602	-7%	5.259	-36%	7.704	-56%	8.920	-62%
Dividend Per Share	-	-	0.763	0.767	-1%	0.697	+9%	0.626	+22%	0.491	+55%
Eps	-	-	1.852	2.184	-15%	1.857	0%	2.238	-17%	1.681	+10%
Free Cash Flow Per Share	-	-	2.200	2.555	-14%	1.611	+37%	2.289	-4%	1.789	+23%
Free Cash Flow To Equity Per Share	-	-	0.278	0.402	-31%	-0.023	+108%	1.000	-72%	0.988	-72%
Gross Profit Margin	-	-	1.000	0.807	+24%	1.000	0%	0.961	+4%	0.981	+2%
Intrinsic Value_10Y_max	-	-	93.356	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-0.727	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	8.947	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	5.966	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	27.193	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	12.801	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	45.814	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	13.968	-	-	-	-	-	-	-	-
Market Cap	68387725200.000	-5%	71706816000.000	62558907500.000	+15%	52256350250.000	+37%	54092584600.000	+33%	38599742750.000	+86%
Net Profit Margin	-	-	0.230	0.272	-15%	0.248	-7%	0.300	-23%	0.269	-14%
Operating Margin	-	-	0.361	0.378	-5%	0.360	+0%	0.424	-15%	0.430	-16%
Operating Ratio	-	-	0.639	0.768	-17%	0.638	+0%	0.613	+4%	0.592	+8%
Pb Ratio	19.786	-4%	20.629	18.934	+9%	15.751	+31%	34.109	-40%	-5.856	+128%
Pe Ratio	50.571	-4%	52.726	40.169	+31%	39.732	+33%	33.804	+56%	33.300	+58%
Price Per Share	374.600	-4%	390.560	340.118	+15%	282.778	+38%	289.161	+35%	202.582	+93%
Price To Free Cash Flow Ratio	42.560	-4%	44.373	34.248	+30%	45.323	-2%	34.423	+29%	26.390	+68%
Price To Total Gains Ratio	253.520	-4%	264.321	190.459	+39%	324.741	-19%	205.673	+29%	144.272	+83%
Quick Ratio	-	-	1.598	1.506	+6%	1.409	+13%	1.623	-2%	1.956	-18%
Return On Assets	-	-	0.023	0.028	-16%	0.024	-3%	0.034	-31%	0.036	-35%
Return On Equity	-	-	0.102	0.129	-21%	0.146	-30%	0.307	-67%	0.395	-74%
Total Gains Per Share	-	-	1.478	5.500	-73%	-3.193	+316%	1.403	+5%	0.964	+53%
Usd Book Value	-	-	3476000000.000	3299500000.000	+5%	1872750000.000	+86%	1936950000.000	+79%	929080000.000	+274%
Usd Book Value Change Per Share	-	-	0.715	4.733	-85%	-3.890	+644%	0.777	-8%	0.473	+51%
Usd Book Value Per Share	-	-	18.932	17.938	+6%	10.124	+87%	10.396	+82%	4.991	+279%
Usd Dividend Per Share	-	-	0.763	0.767	-1%	0.697	+9%	0.626	+22%	0.491	+55%
Usd Eps	-	-	1.852	2.184	-15%	1.857	0%	2.238	-17%	1.681	+10%
Usd Free Cash Flow	-	-	404000000.000	470000000.000	-14%	297750000.000	+36%	429300000.000	-6%	343337500.000	+18%
Usd Free Cash Flow Per Share	-	-	2.200	2.555	-14%	1.611	+37%	2.289	-4%	1.789	+23%
Usd Free Cash Flow To Equity Per Share	-	-	0.278	0.402	-31%	-0.023	+108%	1.000	-72%	0.988	-72%
Usd Market Cap	68387725200.000	-5%	71706816000.000	62558907500.000	+15%	52256350250.000	+37%	54092584600.000	+33%	38599742750.000	+86%
Usd Price Per Share	374.600	-4%	390.560	340.118	+15%	282.778	+38%	289.161	+35%	202.582	+93%
Usd Profit	-	-	340000000.000	401750000.000	-15%	343500000.000	-1%	419730000.000	-19%	322535000.000	+5%
Usd Revenue	-	-	1480000000.000	1479000000.000	+0%	1367000000.000	+8%	1390110000.000	+6%	1171800000.000	+26%
Usd Total Gains Per Share	-	-	1.478	5.500	-73%	-3.193	+316%	1.403	+5%	0.964	+53%
	EOD	+4 -4	MRQ	TTM	+14 -22	YOY	+24 -11	5Y	+16 -20	10Y	+23 -13

4.2. Fundamental Score

Let's check the fundamental score of Moodys Corporation based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	50.571
Price to Book Ratio (EOD)	Between	0-1	19.786
Net Profit Margin (MRQ)	Greater than	0	0.230
Operating Margin (MRQ)	Greater than	0	0.361
Quick Ratio (MRQ)	Greater than	1	1.598
Current Ratio (MRQ)	Greater than	1	1.690
Debt to Asset Ratio (MRQ)	Less than	1	0.762
Debt to Equity Ratio (MRQ)	Less than	1	3.359
Return on Equity (MRQ)	Greater than	0.15	0.102
Return on Assets (MRQ)	Greater than	0.05	0.023
Total			5/10 (50.0%)

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.
Create your own Stock Scanner

4.3. Technical Score

Let's check the technical score of Moodys Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	38.601
Ma 20	Greater than	Ma 50	386.950
Ma 50	Greater than	Ma 100	385.400
Ma 100	Greater than	Ma 200	383.958
Open	Greater than	Close	377.190
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	14,622,000
Total Liabilities	11,146,000
Total Stockholder Equity	3,318,000

	As reported
Total Liabilities	11,146,000
Total Stockholder Equity	+ 3,318,000
Total Assets	= 14,622,000

Assets

Total Assets	14,622,000
Total Current Assets	4,225,000
Long-term Assets	10,397,000

Total Current Assets

Total Current Assets (as reported)	4,225,000
Cash And Cash Equivalents	2,130,000
Short-term Investments	63,000
Net Receivables	1,738,000
Other Current Assets	294,000
Total Current Assets (calculated)	4,225,000
+/-	0

Long-term Assets

Long-term Assets (as reported)	10,397,000
Property Plant Equipment	880,000
Goodwill	5,956,000
Intangible Assets	2,049,000
Long-term Assets Other	614,000
Long-term Assets (calculated)	9,499,000
+/-	898,000

Liabilities & Shareholders' Equity

Total Current Liabilities	2,500,000
Long-term Liabilities	8,646,000
Total Stockholder Equity	3,318,000

Total Current Liabilities

Total Current Liabilities (as reported)	2,500,000
Short-term Debt	108,000
Accounts payable	23,000
Other Current Liabilities	948,000
Total Current Liabilities (calculated)	1,079,000
+/-	1,421,000

Long-term Liabilities

Long-term Liabilities (as reported)	8,646,000
Long-term Liabilities (calculated)	0
+/-	8,646,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	3,318,000
Common Stock	3,000
Retained Earnings	14,659,000
Accumulated Other Comprehensive Income	-567,000
Other Stockholders Equity	-10,777,000
Total Stockholder Equity (calculated)	3,318,000
+/-	0

Other

Cash and Short Term Investments	2,193,000
Common Stock Shares Outstanding	183,600
Current Deferred Revenue	1,421,000
Liabilities and Stockholders Equity	14,622,000
Net Debt	5,285,000
Net Working Capital	1,725,000
Short Long Term Debt Total	7,415,000

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

1999-12-31

1999-09-30

1999-06-30

1999-03-31

1998-12-31

1998-09-30

1998-06-30

1998-03-31

> Total Assets

0
1,816,300
1,669,300
1,789,200
1,821,300
1,720,000
1,713,200
1,785,700
1,811,400
1,428,400
297,000
398,300
399,600
462,000
473,500
505,400
530,100
663,600
634,400
630,800
684,900
720,900
787,000
941,400
1,056,500
1,001,300
1,134,000
1,376,000
1,559,000
1,724,300
1,555,100
1,457,200
1,502,400
1,131,100
1,155,200
1,497,700
1,469,900
1,553,300
1,551,600
1,714,600
1,586,800
1,664,400
1,694,300
1,773,400
1,802,100
1,873,900
1,874,200
2,003,300
2,003,300
1,957,700
2,348,200
2,540,300
2,524,400
2,744,600
2,521,300
2,876,100
2,994,400
2,963,900
3,662,300
3,960,900
3,911,200
3,794,300
4,154,500
4,394,600
4,353,400
4,784,600
4,993,700
4,680,100
4,976,000
4,999,500
4,772,900
5,123,400
5,114,900
5,044,900
5,019,300
5,327,300
5,435,900
6,536,300
8,304,900
8,605,200
9,014,000
8,751,600
8,439,100
9,526,200
9,518,100
9,591,600
9,477,800
10,265,000
11,306,000
11,298,000
11,672,000
12,409,000
12,500,000
12,552,000
14,414,000
14,680,000
14,739,000
14,315,000
13,939,000
14,349,000
14,719,000
14,691,000
14,191,000
14,622,000

14,622,000

14,191,000

14,691,000

14,719,000

14,349,000

13,939,000

14,315,000

14,739,000

14,680,000

14,414,000

12,552,000

12,500,000

12,409,000

11,672,000

11,298,000

11,306,000

10,265,000

9,477,800

9,591,600

9,518,100

9,526,200

8,439,100

8,751,600

9,014,000

8,605,200

8,304,900

6,536,300

5,435,900

5,327,300

5,019,300

5,044,900

5,114,900

5,123,400

4,772,900

4,999,500

4,976,000

4,680,100

4,993,700

4,784,600

4,353,400

4,394,600

4,154,500

3,794,300

3,911,200

3,960,900

3,662,300

2,963,900

2,994,400

2,876,100

2,521,300

2,744,600

2,524,400

2,540,300

2,348,200

1,957,700

2,003,300

1,874,200

1,873,900

1,802,100

1,773,400

1,694,300

1,664,400

1,586,800

1,714,600

1,551,600

1,553,300

1,469,900

1,497,700

1,155,200

1,131,100

1,502,400

1,457,200

1,555,100

1,724,300

1,559,000

1,376,000

1,134,000

1,001,300

1,056,500

941,400

787,000

720,900

684,900

630,800

634,400

663,600

530,100

505,400

473,500

462,000

399,600

398,300

297,000

1,428,400

1,811,400

1,785,700

1,713,200

1,720,000

1,821,300

1,789,200

1,669,300

1,816,300

> Total Current Assets

0
849,800
699,800
764,000
801,400
705,800
689,600
785,000
797,900
495,600
168,300
277,600
279,800
337,900
346,200
371,200
396,700
311,600
281,800
272,300
331,100
368,700
438,100
569,000
680,000
654,700
789,500
1,022,600
1,205,300
1,370,700
1,198,000
1,051,800
1,062,800
679,800
680,200
1,001,900
879,100
918,000
870,600
989,100
852,500
912,800
917,800
809,100
856,100
900,600
896,500
1,012,900
1,008,000
960,000
1,301,400
1,343,000
1,339,600
1,543,100
1,360,000
1,424,400
1,526,600
1,519,400
2,205,800
2,525,700
2,520,300
2,442,700
2,782,200
2,968,800
2,945,800
2,944,300
3,061,900
2,686,400
3,039,300
3,064,000
2,862,100
3,243,100
3,085,300
3,030,100
3,016,900
3,253,100
3,485,500
4,559,100
2,278,900
2,591,600
2,818,800
2,839,700
2,516,200
3,386,900
2,898,400
3,154,600
3,042,300
3,679,000
3,994,000
3,963,000
4,281,000
4,509,000
4,695,000
4,734,000
4,255,000
4,011,000
4,062,000
3,820,000
3,726,000
4,094,000
4,426,000
4,390,000
4,037,000
4,225,000

4,225,000

4,037,000

4,390,000

4,426,000

4,094,000

3,726,000

3,820,000

4,062,000

4,011,000

4,255,000

4,734,000

4,695,000

4,509,000

4,281,000

3,963,000

3,994,000

3,679,000

3,042,300

3,154,600

2,898,400

3,386,900

2,516,200

2,839,700

2,818,800

2,591,600

2,278,900

4,559,100

3,485,500

3,253,100

3,016,900

3,030,100

3,085,300

3,243,100

2,862,100

3,064,000

3,039,300

2,686,400

3,061,900

2,944,300

2,945,800

2,968,800

2,782,200

2,442,700

2,520,300

2,525,700

2,205,800

1,519,400

1,526,600

1,424,400

1,360,000

1,543,100

1,339,600

1,343,000

1,301,400

960,000

1,008,000

1,012,900

896,500

900,600

856,100

809,100

917,800

912,800

852,500

989,100

870,600

918,000

879,100

1,001,900

680,200

679,800

1,062,800

1,051,800

1,198,000

1,370,700

1,205,300

1,022,600

789,500

654,700

680,000

569,000

438,100

368,700

331,100

272,300

281,800

311,600

396,700

371,200

346,200

337,900

279,800

277,600

168,300

495,600

797,900

785,000

689,600

705,800

801,400

764,000

699,800

849,800

Cash And Cash Equivalents

0
247,900
156,400
90,600
70,900
76,400
70,800
113,200
70,000
54,800
22,600
119,100
99,000
164,400
174,700
163,200
177,800
78,500
69,900
39,900
57,800
81,200
179,900
269,100
368,100
332,300
451,000
606,100
777,000
930,800
736,700
486,000
495,900
223,200
281,600
408,100
289,500
361,600
421,100
426,300
339,700
380,100
438,600
245,900
341,700
392,800
422,700
473,900
496,400
485,900
793,700
659,600
719,500
938,500
854,200
760,000
814,700
824,100
1,518,500
1,755,400
1,758,000
1,633,000
1,835,100
1,894,500
1,792,200
1,777,300
1,940,800
1,219,500
1,509,900
1,538,600
1,471,100
1,757,400
1,576,100
1,674,300
1,746,100
2,051,500
2,129,600
3,280,900
962,800
1,071,500
1,277,300
1,314,500
1,034,800
1,685,000
1,196,600
1,195,900
1,178,000
1,832,000
2,141,000
2,099,000
2,492,000
2,597,000
2,769,000
2,809,000
2,239,000
1,811,000
1,750,000
1,617,000
1,656,000
1,769,000
2,119,000
2,278,000
2,006,000
2,130,000

2,130,000

2,006,000

2,278,000

2,119,000

1,769,000

1,656,000

1,617,000

1,750,000

1,811,000

2,239,000

2,809,000

2,769,000

2,597,000

2,492,000

2,099,000

2,141,000

1,832,000

1,178,000

1,195,900

1,196,600

1,685,000

1,034,800

1,314,500

1,277,300

1,071,500

962,800

3,280,900

2,129,600

2,051,500

1,746,100

1,674,300

1,576,100

1,757,400

1,471,100

1,538,600

1,509,900

1,219,500

1,940,800

1,777,300

1,792,200

1,894,500

1,835,100

1,633,000

1,758,000

1,755,400

1,518,500

824,100

814,700

760,000

854,200

938,500

719,500

659,600

793,700

485,900

496,400

473,900

422,700

392,800

341,700

245,900

438,600

380,100

339,700

426,300

421,100

361,600

289,500

408,100

281,600

223,200

495,900

486,000

736,700

930,800

777,000

606,100

451,000

332,300

368,100

269,100

179,900

81,200

57,800

39,900

69,900

78,500

177,800

163,200

174,700

164,400

99,000

119,100

22,600

54,800

70,000

113,200

70,800

76,400

70,900

90,600

156,400

247,900

Short-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
81,700
94,500
109,100
7,100
13,000
75,400
10,300
13,400
4,600
14,700
9,900
12,700
7,200
7,100
6,800
4,900
6,800
10,000
7,500
7,700
10,800
12,700
6,700
11,000
13,300
14,800
13,300
15,400
22,700
17,900
11,600
17,900
209,600
211,800
177,300
182,000
164,800
458,100
485,500
508,900
470,200
474,800
490,600
352,500
311,800
173,400
132,800
86,300
108,300
111,800
100,500
101,200
110,700
132,500
114,000
119,500
95,800
98,000
90,000
100,000
96,000
99,000
96,000
88,000
104,000
91,000
103,000
86,000
89,000
90,000
78,000
57,000
73,000
63,000

63,000

73,000

57,000

78,000

90,000

89,000

86,000

103,000

91,000

104,000

88,000

96,000

99,000

96,000

100,000

90,000

98,000

95,800

119,500

114,000

132,500

110,700

101,200

100,500

111,800

108,300

86,300

132,800

173,400

311,800

352,500

490,600

474,800

470,200

508,900

485,500

458,100

164,800

182,000

177,300

211,800

209,600

17,900

11,600

17,900

22,700

15,400

13,300

14,800

13,300

11,000

6,700

12,700

10,800

7,700

7,500

10,000

6,800

4,900

6,800

7,100

7,200

12,700

9,900

14,700

4,600

13,400

10,300

75,400

13,000

7,100

109,100

94,500

81,700

Net Receivables

0
425,400
375,300
445,200
518,200
441,400
426,000
454,400
508,000
332,200
87,800
101,000
123,700
117,500
112,400
148,400
158,400
177,600
151,700
178,100
223,200
237,200
207,800
270,300
281,500
295,800
285,500
358,400
364,600
379,400
336,800
421,800
422,800
424,600
359,600
475,400
499,300
484,000
393,100
443,600
405,400
415,200
348,700
421,800
403,600
407,600
378,900
444,900
427,000
389,100
410,600
497,500
503,400
492,600
400,500
489,800
589,200
530,500
549,600
621,800
637,200
607,700
592,000
694,200
737,900
758,300
712,200
792,400
842,700
801,300
720,500
802,000
852,100
843,700
831,400
887,400
953,500
916,500
1,007,300
1,147,200
1,207,400
1,137,100
1,131,800
1,287,100
1,301,200
1,245,300
1,228,400
1,419,000
1,413,000
1,401,000
1,360,000
1,430,000
1,497,000
1,458,000
1,589,000
1,720,000
1,824,000
1,602,000
1,518,000
1,652,000
1,712,000
1,542,000
1,513,000
1,738,000

1,738,000

1,513,000

1,542,000

1,712,000

1,652,000

1,518,000

1,602,000

1,824,000

1,720,000

1,589,000

1,458,000

1,497,000

1,430,000

1,360,000

1,401,000

1,413,000

1,419,000

1,228,400

1,245,300

1,301,200

1,287,100

1,131,800

1,137,100

1,207,400

1,147,200

1,007,300

916,500

953,500

887,400

831,400

843,700

852,100

802,000

720,500

801,300

842,700

792,400

712,200

758,300

737,900

694,200

592,000

607,700

637,200

621,800

549,600

530,500

589,200

489,800

400,500

492,600

503,400

497,500

410,600

389,100

427,000

444,900

378,900

407,600

403,600

421,800

348,700

415,200

405,400

443,600

393,100

484,000

499,300

475,400

359,600

424,600

422,800

421,800

336,800

379,400

364,600

358,400

285,500

295,800

281,500

270,300

207,800

237,200

223,200

178,100

151,700

177,600

158,400

148,400

112,400

117,500

123,700

101,000

87,800

332,200

508,000

454,400

426,000

441,400

518,200

445,200

375,300

425,400

Other Current Assets

0
176,500
168,100
228,200
212,300
188,000
192,800
217,400
219,900
108,600
57,900
57,500
57,100
56,000
59,100
59,600
60,500
55,500
60,200
54,300
50,100
50,300
50,400
29,600
30,400
26,600
53,000
58,100
63,700
60,500
42,800
49,500
35,000
24,900
26,000
43,000
80,000
59,000
51,800
104,500
68,600
70,500
94,200
107,800
72,400
502,900
467,000
33,200
504,100
466,400
496,900
5,800
613,400
593,600
492,500
5,400
698,600
679,900
664,600
12,800
15,500
10,800
12,800
26,300
2,870,400
28,400
42,900
47,200
37,200
48,700
37,000
29,400
23,200
33,500
24,500
28,100
20,400
51,200
35,700
47,600
82,400
88,700
82,900
80,200
78,400
2,896,500
2,788,300
180,000
172,000
165,000
135,000
167,000
141,000
154,000
134,000
177,000
157,000
515,000
463,000
4,094,000
517,000
513,000
445,000
294,000

294,000

445,000

513,000

517,000

4,094,000

463,000

515,000

157,000

177,000

134,000

154,000

141,000

167,000

135,000

165,000

172,000

180,000

2,788,300

2,896,500

78,400

80,200

82,900

88,700

82,400

47,600

35,700

51,200

20,400

28,100

24,500

33,500

23,200

29,400

37,000

48,700

37,200

47,200

42,900

28,400

2,870,400

26,300

12,800

10,800

15,500

12,800

664,600

679,900

698,600

5,400

492,500

593,600

613,400

5,800

496,900

466,400

504,100

33,200

467,000

502,900

72,400

107,800

94,200

70,500

68,600

104,500

51,800

59,000

80,000

43,000

26,000

24,900

35,000

49,500

42,800

60,500

63,700

58,100

53,000

26,600

30,400

29,600

50,400

50,300

50,100

54,300

60,200

55,500

60,500

59,600

59,100

56,000

57,100

57,500

57,900

108,600

219,900

217,400

192,800

188,000

212,300

228,200

168,100

176,500

> Long-term Assets

0
966,500
969,500
1,025,200
1,019,900
1,014,200
1,023,600
1,000,700
1,013,500
932,800
128,700
120,700
119,800
124,100
127,300
134,200
133,400
352,000
352,600
358,500
353,800
352,200
348,900
372,400
376,500
346,600
344,500
353,400
353,700
353,600
357,100
405,400
439,600
451,300
475,000
495,800
590,800
635,300
681,000
725,500
734,300
751,600
776,500
964,300
946,000
973,300
977,700
990,400
995,300
997,700
1,046,800
1,197,300
1,184,800
1,201,500
1,161,300
1,451,700
1,467,800
1,444,500
1,456,500
1,435,200
1,390,900
1,351,600
1,372,300
1,425,800
1,407,600
1,840,300
1,931,800
1,993,700
1,936,700
1,935,500
1,910,800
1,880,300
2,029,600
2,014,800
2,002,400
2,074,200
1,950,400
1,977,200
6,026,000
6,013,600
6,195,200
5,911,900
5,922,900
6,139,300
6,619,700
6,437,000
6,435,500
6,586,000
7,312,000
7,335,000
7,391,000
7,900,000
7,805,000
7,818,000
10,159,000
10,669,000
10,677,000
10,495,000
10,213,000
10,255,000
10,293,000
10,301,000
10,154,000
10,397,000

10,397,000

10,154,000

10,301,000

10,293,000

10,255,000

10,213,000

10,495,000

10,677,000

10,669,000

10,159,000

7,818,000

7,805,000

7,900,000

7,391,000

7,335,000

7,312,000

6,586,000

6,435,500

6,437,000

6,619,700

6,139,300

5,922,900

5,911,900

6,195,200

6,013,600

6,026,000

1,977,200

1,950,400

2,074,200

2,002,400

2,014,800

2,029,600

1,880,300

1,910,800

1,935,500

1,936,700

1,993,700

1,931,800

1,840,300

1,407,600

1,425,800

1,372,300

1,351,600

1,390,900

1,435,200

1,456,500

1,444,500

1,467,800

1,451,700

1,161,300

1,201,500

1,184,800

1,197,300

1,046,800

997,700

995,300

990,400

977,700

973,300

946,000

964,300

776,500

751,600

734,300

725,500

681,000

635,300

590,800

495,800

475,000

451,300

439,600

405,400

357,100

353,600

353,700

353,400

344,500

346,600

376,500

372,400

348,900

352,200

353,800

358,500

352,600

352,000

133,400

134,200

127,300

124,100

119,800

120,700

128,700

932,800

1,013,500

1,000,700

1,023,600

1,014,200

1,019,900

1,025,200

969,500

966,500

Property Plant Equipment

0
303,200
298,700
298,300
293,000
285,400
277,700
280,000
275,700
221,400
42,900
43,400
42,300
42,000
42,700
42,900
43,000
45,700
45,700
50,600
49,300
48,400
47,100
46,800
48,000
46,300
44,200
45,200
44,800
45,700
47,200
55,400
58,300
60,000
62,800
62,000
118,200
162,800
218,400
214,600
230,200
235,700
242,100
247,700
248,400
267,600
278,600
293,000
292,700
298,300
307,500
319,300
324,600
325,200
323,700
326,800
324,800
317,400
315,600
307,100
296,100
287,400
284,300
278,700
282,300
298,300
303,500
302,300
299,300
304,600
306,100
306,400
310,500
323,000
329,600
325,900
329,100
329,700
332,100
325,100
321,600
312,200
311,100
320,400
826,800
777,200
756,700
748,000
722,000
727,000
692,000
671,000
644,000
639,000
752,000
785,000
808,000
846,000
859,000
848,000
857,000
871,000
871,000
880,000

880,000

871,000

857,000

848,000

859,000

846,000

808,000

785,000

752,000

639,000

644,000

671,000

692,000

727,000

722,000

748,000

756,700

777,200

826,800

320,400

311,100

312,200

321,600

325,100

332,100

329,700

329,100

325,900

329,600

323,000

310,500

306,400

306,100

304,600

299,300

302,300

303,500

298,300

282,300

278,700

284,300

287,400

296,100

307,100

315,600

317,400

324,800

326,800

323,700

325,200

324,600

319,300

307,500

298,300

292,700

293,000

278,600

267,600

248,400

247,700

242,100

235,700

230,200

214,600

218,400

162,800

118,200

62,000

62,800

60,000

58,300

55,400

47,200

45,700

44,800

45,200

44,200

46,300

48,000

46,800

47,100

48,400

49,300

50,600

45,700

43,000

42,900

42,700

42,000

42,300

43,400

42,900

221,400

275,700

280,000

277,700

285,400

293,000

298,300

298,700

303,200

Goodwill

0
0
0
0
0
0
0
0
0
0
0
8,500
0
0
0
6,000
0
125,200
126,200
126,300
126,100
126,300
126,400
126,400
127,200
127,100
127,500
131,700
131,800
131,700
131,600
152,100
153,700
154,000
154,000
176,100
178,300
179,800
179,700
179,900
206,000
205,800
202,800
338,000
333,800
344,600
350,400
349,200
347,300
345,100
355,200
465,500
463,300
470,400
451,100
642,900
656,300
638,100
646,300
637,100
623,800
619,800
630,800
665,200
656,600
955,200
1,000,300
1,021,100
988,000
1,006,800
990,000
976,300
1,050,900
1,047,200
1,040,800
1,023,600
1,029,600
1,054,500
3,722,100
3,753,200
3,831,500
3,662,700
3,661,300
3,781,300
3,762,500
3,664,900
3,610,000
3,722,000
4,122,000
4,162,000
4,282,000
4,556,000
4,566,000
4,590,000
5,898,000
5,999,000
6,039,000
5,841,000
5,617,000
5,839,000
5,892,000
5,926,000
5,831,000
5,956,000

5,956,000

5,831,000

5,926,000

5,892,000

5,839,000

5,617,000

5,841,000

6,039,000

5,999,000

5,898,000

4,590,000

4,566,000

4,556,000

4,282,000

4,162,000

4,122,000

3,722,000

3,610,000

3,664,900

3,762,500

3,781,300

3,661,300

3,662,700

3,831,500

3,753,200

3,722,100

1,054,500

1,029,600

1,023,600

1,040,800

1,047,200

1,050,900

976,300

990,000

1,006,800

988,000

1,021,100

1,000,300

955,200

656,600

665,200

630,800

619,800

623,800

637,100

646,300

638,100

656,300

642,900

451,100

470,400

463,300

465,500

355,200

345,100

347,300

349,200

350,400

344,600

333,800

338,000

202,800

205,800

206,000

179,900

179,700

179,800

178,300

176,100

154,000

153,700

152,100

131,600

131,700

131,800

131,700

127,500

127,100

127,200

126,400

126,300

126,100

126,300

126,200

125,200

6,000

8,500

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
87,000
0
0
0
95,800
0
0
0
66,000
0
0
0
121,200
144,700
155,200
144,100
131,000
111,600
121,400
113,000
117,000
121,000
125,000
123,000
135,000
149,000
151,000
149,000
443,000
450,000
514,000
504,000
517,000
520,000
622,000
619,000
0

619,000

622,000

520,000

517,000

504,000

514,000

450,000

443,000

149,000

151,000

149,000

135,000

123,000

125,000

121,000

117,000

113,000

121,400

111,600

131,000

144,100

155,200

144,700

121,200

66,000

95,800

87,000

Intangible Assets

0
188,000
189,900
191,800
179,000
171,100
168,500
167,500
174,100
148,800
14,200
13,700
13,100
12,400
11,700
10,300
14,700
87,800
212,300
210,700
208,600
207,200
205,600
203,800
203,000
201,100
199,900
202,400
200,900
199,100
197,500
222,900
69,100
66,600
64,100
65,700
63,500
61,600
59,600
56,900
68,100
65,500
63,700
114,000
107,100
106,700
104,200
104,900
100,100
93,100
93,300
168,800
167,700
166,800
153,000
253,600
249,300
238,000
233,300
226,500
212,700
202,000
198,200
221,600
212,800
310,500
349,800
345,500
328,000
322,600
308,800
299,100
329,200
319,200
307,800
296,400
289,800
287,100
1,633,100
1,631,600
1,641,600
1,541,400
1,517,600
1,566,100
1,530,400
1,486,000
1,454,100
1,498,000
1,709,000
1,697,000
1,717,000
1,824,000
1,810,000
1,784,000
2,510,000
2,467,000
2,422,000
2,300,000
2,182,000
2,210,000
2,177,000
2,138,000
2,058,000
2,049,000

2,049,000

2,058,000

2,138,000

2,177,000

2,210,000

2,182,000

2,300,000

2,422,000

2,467,000

2,510,000

1,784,000

1,810,000

1,824,000

1,717,000

1,697,000

1,709,000

1,498,000

1,454,100

1,486,000

1,530,400

1,566,100

1,517,600

1,541,400

1,641,600

1,631,600

1,633,100

287,100

289,800

296,400

307,800

319,200

329,200

299,100

308,800

322,600

328,000

345,500

349,800

310,500

212,800

221,600

198,200

202,000

212,700

226,500

233,300

238,000

249,300

253,600

153,000

166,800

167,700

168,800

93,300

93,100

100,100

104,900

104,200

106,700

107,100

114,000

63,700

65,500

68,100

56,900

59,600

61,600

63,500

65,700

64,100

66,600

69,100

222,900

197,500

199,100

200,900

202,400

199,900

201,100

203,000

203,800

205,600

207,200

208,600

210,700

212,300

87,800

14,700

10,300

11,700

12,400

13,100

13,700

14,200

148,800

174,100

167,500

168,500

171,100

179,000

191,800

189,900

188,000

Other Assets

0
0
0
0
0
0
0
0
0
84,200
85,800
77,300
77,500
82,100
84,600
91,300
90,400
306,300
306,900
307,900
304,500
303,800
301,800
325,600
328,500
300,300
300,300
308,200
308,900
307,900
309,900
350,000
381,300
391,300
412,200
433,800
472,600
472,500
462,600
510,900
504,100
515,900
534,400
716,600
697,600
705,600
699,100
697,400
702,600
699,400
739,300
878,000
860,200
876,300
837,600
1,124,900
1,143,000
1,127,100
1,140,900
1,128,100
1,094,800
1,064,200
1,088,000
1,147,600
1,125,300
1,544,000
1,628,300
1,680,300
1,637,400
1,630,900
1,604,700
1,573,900
1,719,100
1,691,800
1,672,800
1,748,300
1,621,300
1,647,500
5,693,900
5,688,500
5,873,600
240,400
288,800
340,500
280,000
349,000
448,300
491,000
6,875,000
399,000
460,000
1,242
530,000
7,461,000
9,708,000
10,231,000
733,000
1,508,000
1,555,000
1,358,000
577,000
1,366,000
1,394,000
0

1,394,000

1,366,000

577,000

1,358,000

1,555,000

1,508,000

733,000

10,231,000

9,708,000

7,461,000

530,000

1,242

460,000

399,000

6,875,000

491,000

448,300

349,000

280,000

340,500

288,800

240,400

5,873,600

5,688,500

5,693,900

1,647,500

1,621,300

1,748,300

1,672,800

1,691,800

1,719,100

1,573,900

1,604,700

1,630,900

1,637,400

1,680,300

1,628,300

1,544,000

1,125,300

1,147,600

1,088,000

1,064,200

1,094,800

1,128,100

1,140,900

1,127,100

1,143,000

1,124,900

837,600

876,300

860,200

878,000

739,300

699,400

702,600

697,400

699,100

705,600

697,600

716,600

534,400

515,900

504,100

510,900

462,600

472,500

472,600

433,800

412,200

391,300

381,300

350,000

309,900

307,900

308,900

308,200

300,300

328,500

325,600

301,800

303,800

304,500

307,900

306,900

306,300

90,400

91,300

84,600

82,100

77,500

77,300

85,800

84,200

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
206,600
0
192,600
203,100
208,200
227,800
187,900
176,500
181,100
172,100
146,400
147,300
150,900
156,800
168,500
158,200
152,500
165,100
148,700
149,300
130,900
136,000
167,800
154,700
145,700
132,700
137,700
176,200
167,200
169,600
316,100
135,100
135,300
170,200
143,800
142,500
136,600
189,300
197,200
178,800
191,400
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

191,400

178,800

197,200

189,300

136,600

142,500

143,800

170,200

135,300

135,100

316,100

169,600

167,200

176,200

137,700

132,700

145,700

154,700

167,800

136,000

130,900

149,300

148,700

165,100

152,500

158,200

168,500

156,800

150,900

147,300

146,400

172,100

181,100

176,500

187,900

227,800

208,200

203,100

192,600

206,600

> Total Liabilities

0
1,768,200
1,694,300
1,858,500
1,887,200
1,879,800
1,845,100
1,900,400
1,841,700
1,428,500
558,100
680,800
723,500
718,500
769,100
809,500
781,400
806,300
814,900
957,800
956,800
860,400
877,200
973,500
956,900
939,200
986,500
1,058,500
1,064,200
1,082,200
1,057,500
1,147,800
1,120,200
1,110,500
1,116,500
1,330,300
1,540,000
1,819,200
2,161,100
2,498,200
2,489,800
2,486,200
2,588,100
2,767,800
2,721,400
2,623,400
2,521,700
2,599,400
2,537,300
2,449,600
2,645,800
2,838,700
2,747,600
2,761,200
2,695,500
2,974,000
2,833,800
2,785,100
3,340,200
3,960,900
3,371,000
3,794,300
4,154,500
4,394,600
4,353,400
4,110,700
4,993,700
4,680,100
5,122,200
5,102,900
5,013,100
5,456,400
5,466,400
5,414,400
5,377,200
6,354,600
6,160,100
7,003,800
8,461,700
8,720,100
8,594,000
8,291,500
7,833,000
8,869,700
9,193,100
9,016,900
8,780,500
9,434,000
10,507,000
10,066,000
9,984,000
10,646,000
10,275,000
10,172,000
11,795,000
11,764,000
12,157,000
11,836,000
11,509,000
14,349,000
11,661,000
11,379,000
10,839,000
11,146,000

11,146,000

10,839,000

11,379,000

11,661,000

14,349,000

11,509,000

11,836,000

12,157,000

11,764,000

11,795,000

10,172,000

10,275,000

10,646,000

9,984,000

10,066,000

10,507,000

9,434,000

8,780,500

9,016,900

9,193,100

8,869,700

7,833,000

8,291,500

8,594,000

8,720,100

8,461,700

7,003,800

6,160,100

6,354,600

5,377,200

5,414,400

5,466,400

5,456,400

5,013,100

5,102,900

5,122,200

4,680,100

4,993,700

4,110,700

4,353,400

4,394,600

4,154,500

3,794,300

3,371,000

3,960,900

3,340,200

2,785,100

2,833,800

2,974,000

2,695,500

2,761,200

2,747,600

2,838,700

2,645,800

2,449,600

2,537,300

2,599,400

2,521,700

2,623,400

2,721,400

2,767,800

2,588,100

2,486,200

2,489,800

2,498,200

2,161,100

1,819,200

1,540,000

1,330,300

1,116,500

1,110,500

1,120,200

1,147,800

1,057,500

1,082,200

1,064,200

1,058,500

986,500

939,200

956,900

973,500

877,200

860,400

956,800

957,800

814,900

806,300

781,400

809,500

769,100

718,500

723,500

680,800

558,100

1,428,500

1,841,700

1,900,400

1,845,100

1,879,800

1,887,200

1,858,500

1,694,300

1,768,200

> Total Current Liabilities

0
995,600
943,000
1,352,700
1,374,700
1,363,700
1,342,900
1,414,800
1,365,600
973,300
220,000
253,100
293,600
287,600
339,000
359,300
324,600
346,400
324,200
462,000
452,200
349,900
360,000
432,100
411,000
429,900
470,600
837,200
835,300
843,200
505,800
578,900
550,100
527,100
525,300
700,000
773,000
1,090,700
1,085,800
1,349,200
1,318,200
1,160,600
1,248,800
1,393,100
1,338,800
1,305,100
1,202,300
1,236,000
1,146,900
1,094,200
792,600
933,800
841,000
852,000
834,900
1,134,000
1,011,500
995,200
982,900
1,164,900
1,013,400
897,100
897,200
1,141,300
1,027,300
1,093,400
1,041,700
1,199,700
1,138,200
1,124,800
1,050,200
1,218,500
1,151,900
1,146,400
1,402,500
2,428,200
1,423,800
1,237,200
1,982,700
2,074,300
1,920,900
1,843,900
1,823,600
2,098,500
2,005,600
1,839,900
2,138,000
1,912,000
2,351,000
1,886,000
1,721,000
2,222,000
2,154,000
2,050,000
2,793,000
2,496,000
2,988,000
2,755,000
2,066,000
2,375,000
2,988,000
2,667,000
2,269,000
2,500,000

2,500,000

2,269,000

2,667,000

2,988,000

2,375,000

2,066,000

2,755,000

2,988,000

2,496,000

2,793,000

2,050,000

2,154,000

2,222,000

1,721,000

1,886,000

2,351,000

1,912,000

2,138,000

1,839,900

2,005,600

2,098,500

1,823,600

1,843,900

1,920,900

2,074,300

1,982,700

1,237,200

1,423,800

2,428,200

1,402,500

1,146,400

1,151,900

1,218,500

1,050,200

1,124,800

1,138,200

1,199,700

1,041,700

1,093,400

1,027,300

1,141,300

897,200

897,100

1,013,400

1,164,900

982,900

995,200

1,011,500

1,134,000

834,900

852,000

841,000

933,800

792,600

1,094,200

1,146,900

1,236,000

1,202,300

1,305,100

1,338,800

1,393,100

1,248,800

1,160,600

1,318,200

1,349,200

1,085,800

1,090,700

773,000

700,000

525,300

527,100

550,100

578,900

505,800

843,200

835,300

837,200

470,600

429,900

411,000

432,100

360,000

349,900

452,200

462,000

324,200

346,400

324,600

359,300

339,000

287,600

293,600

253,100

220,000

973,300

1,365,600

1,414,800

1,342,900

1,363,700

1,374,700

1,352,700

943,000

995,600

Short-term Debt

0
0
1,500
36,900
64,300
129,200
102,600
127,300
38,900
291,900
0
0
0
0
0
0
0
0
0
107,100
93,100
-149,800
-175,600
-217,500
-158,700
-181,900
-236,600
300,000
300,000
300,000
-244,500
-279,800
-205,200
-192,200
-222,800
0
80,000
410,000
400,000
551,900
598,700
527,000
648,600
717,700
660,500
580,400
532,900
447,500
377,500
363,900
24,400
11,300
13,100
15,000
43,100
71,300
99,400
127,500
95,600
63,800
31,900
0
0
0
0
0
0
2,547,300
0
0
0
3,380,600
299,900
299,900
299,900
300,000
213,800
4,887,100
614,100
429,400
389,600
389,800
470,500
449,900
406,200
219,000
591,000
89,000
574,000
90,000
91,000
94,000
94,000
92,000
610,000
105,000
607,000
604,000
104,000
106,000
605,000
405,000
105,000
108,000

108,000

105,000

405,000

605,000

106,000

104,000

604,000

607,000

105,000

610,000

92,000

94,000

91,000

90,000

574,000

89,000

591,000

219,000

406,200

449,900

470,500

389,800

389,600

429,400

614,100

4,887,100

213,800

300,000

299,900

3,380,600

2,547,300

31,900

63,800

95,600

127,500

99,400

71,300

43,100

15,000

13,100

11,300

24,400

363,900

377,500

447,500

532,900

580,400

660,500

717,700

648,600

527,000

598,700

551,900

400,000

410,000

80,000

-222,800

-192,200

-205,200

-279,800

-244,500

300,000

-236,600

-181,900

-158,700

-217,500

-175,600

-149,800

93,100

107,100

291,900

38,900

127,300

102,600

129,200

64,300

36,900

1,500

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,547,300
0
0
0
3,380,600
299,900
299,900
299,900
300,000
213,800
4,887,100
299,300
299,500
299,700
299,900
445,600
449,900
318,800
129,900
501,500
0
485,000
0
0
0
0
0
507,000
0
501,000
499,000
0
0
499,000
300,000
0
0

300,000

499,000

501,000

507,000

485,000

501,500

129,900

318,800

449,900

445,600

299,900

299,700

299,500

299,300

4,887,100

213,800

300,000

299,900

3,380,600

2,547,300

Accounts payable

0
0
0
0
0
0
0
0
0
81,500
107,300
135,400
143,200
142,100
203,400
236,900
169,700
173,100
165,200
184,900
155,800
149,800
175,600
217,500
158,700
181,900
236,600
270,500
238,000
251,700
244,500
279,800
205,200
192,200
222,800
8,800
282,900
282,400
317,400
8,100
256,500
198,900
208,100
8,600
198,800
262,000
241,900
7,100
253,200
248,600
321,000
14,300
273,900
8,600
311,200
16,400
16,800
18,000
14,600
14,300
16,100
14,900
10,000
16,400
16,500
20,400
17,600
19,400
21,100
16,600
17,600
22,200
14,400
35,600
28,000
28,400
24,100
25,000
29,200
21,800
32,000
22,500
16,200
30,100
19,500
4,900
14,800
38,000
26,000
36,000
26,000
39,000
21,000
18,000
30,000
47,000
42,000
31,000
34,000
52,000
70,000
37,000
41,000
23,000

23,000

41,000

37,000

70,000

52,000

34,000

31,000

42,000

47,000

30,000

18,000

21,000

39,000

26,000

36,000

26,000

38,000

14,800

4,900

19,500

30,100

16,200

22,500

32,000

21,800

29,200

25,000

24,100

28,400

28,000

35,600

14,400

22,200

17,600

16,600

21,100

19,400

17,600

20,400

16,500

16,400

10,000

14,900

16,100

14,300

14,600

18,000

16,800

16,400

311,200

8,600

273,900

14,300

321,000

248,600

253,200

7,100

241,900

262,000

198,800

8,600

208,100

198,900

256,500

8,100

317,400

282,400

282,900

8,800

222,800

192,200

205,200

279,800

244,500

251,700

238,000

270,500

236,600

181,900

158,700

217,500

175,600

149,800

155,800

184,900

165,200

173,100

169,700

236,900

203,400

142,100

143,200

135,400

107,300

81,500

Other Current Liabilities

0
995,600
941,500
1,315,800
1,310,400
1,234,500
1,240,300
1,287,500
1,326,700
681,400
112,700
117,700
150,400
145,500
135,600
122,400
154,900
173,300
159,000
342,300
203,300
149,800
175,600
217,500
158,700
181,900
236,600
458,800
297,300
291,500
244,500
279,800
205,200
192,200
222,800
330,900
410,100
398,300
368,400
363,200
463,000
434,700
392,100
231,800
198,800
262,000
241,900
310,100
253,200
248,600
321,000
400,100
273,900
293,500
311,200
525,900
286,000
279,900
347,000
519,500
319,400
274,900
303,300
504,800
294,300
388,800
391,000
538,700
358,100
398,800
388,100
536,500
350,200
392,800
395,100
1,387,500
337,400
440,300
524,700
717,300
473,200
547,900
542,200
644,700
494,700
642,400
651,000
707,000
597,000
715,000
642,000
958,000
764,000
738,000
958,000
995,000
698,000
835,000
773,000
959,000
735,000
840,000
897,000
948,000

948,000

897,000

840,000

735,000

959,000

773,000

835,000

698,000

995,000

958,000

738,000

764,000

958,000

642,000

715,000

597,000

707,000

651,000

642,400

494,700

644,700

542,200

547,900

473,200

717,300

524,700

440,300

337,400

1,387,500

395,100

392,800

350,200

536,500

388,100

398,800

358,100

538,700

391,000

388,800

294,300

504,800

303,300

274,900

319,400

519,500

347,000

279,900

286,000

525,900

311,200

293,500

273,900

400,100

321,000

248,600

253,200

310,100

241,900

262,000

198,800

231,800

392,100

434,700

463,000

363,200

368,400

398,300

410,100

330,900

222,800

192,200

205,200

279,800

244,500

291,500

297,300

458,800

236,600

181,900

158,700

217,500

175,600

149,800

203,300

342,300

159,000

173,300

154,900

122,400

135,600

145,500

150,400

117,700

112,700

681,400

1,326,700

1,287,500

1,240,300

1,234,500

1,310,400

1,315,800

941,500

995,600

> Long-term Liabilities

0
772,600
751,300
505,800
512,500
516,100
502,200
485,600
476,100
455,200
338,100
427,700
429,900
430,900
430,100
450,200
456,800
459,900
490,700
495,800
504,600
510,500
517,200
541,400
545,900
509,300
515,900
221,300
228,900
239,000
551,700
568,900
570,100
583,400
591,200
630,300
767,000
728,500
1,075,300
1,149,000
1,171,600
1,325,600
1,339,300
1,374,700
1,382,600
1,318,300
1,319,400
1,363,400
1,390,400
1,355,400
1,853,200
1,904,900
1,906,600
1,909,200
1,860,600
1,840,000
1,822,300
1,789,900
2,357,300
2,396,000
2,357,600
2,440,400
2,965,400
2,905,400
2,932,800
3,017,300
3,471,700
3,437,500
3,984,000
3,978,100
3,962,900
4,237,900
4,314,500
4,268,000
3,974,700
3,926,400
4,736,300
5,766,600
6,479,000
6,645,800
6,673,100
6,447,600
6,009,400
6,771,200
7,187,500
7,177,000
6,642,500
7,522,000
8,156,000
8,180,000
8,263,000
8,424,000
8,121,000
8,122,000
9,002,000
9,268,000
9,169,000
9,081,000
9,443,000
9,285,000
8,673,000
8,712,000
8,570,000
8,646,000

8,646,000

8,570,000

8,712,000

8,673,000

9,285,000

9,443,000

9,081,000

9,169,000

9,268,000

9,002,000

8,122,000

8,121,000

8,424,000

8,263,000

8,180,000

8,156,000

7,522,000

6,642,500

7,177,000

7,187,500

6,771,200

6,009,400

6,447,600

6,673,100

6,645,800

6,479,000

5,766,600

4,736,300

3,926,400

3,974,700

4,268,000

4,314,500

4,237,900

3,962,900

3,978,100

3,984,000

3,437,500

3,471,700

3,017,300

2,932,800

2,905,400

2,965,400

2,440,400

2,357,600

2,396,000

2,357,300

1,789,900

1,822,300

1,840,000

1,860,600

1,909,200

1,906,600

1,904,900

1,853,200

1,355,400

1,390,400

1,363,400

1,319,400

1,318,300

1,382,600

1,374,700

1,339,300

1,325,600

1,171,600

1,149,000

1,075,300

728,500

767,000

630,300

591,200

583,400

570,100

568,900

551,700

239,000

228,900

221,300

515,900

509,300

545,900

541,400

517,200

510,500

504,600

495,800

490,700

459,900

456,800

450,200

430,100

430,900

429,900

427,700

338,100

455,200

476,100

485,600

502,200

516,100

512,500

505,800

751,300

772,600

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
750,000
0
746,200
744,400
742,500
1,235,600
1,228,300
1,221,100
1,228,000
1,200,900
1,172,500
1,137,400
1,110,800
1,611,900
1,607,400
1,610,200
1,605,000
2,098,600
2,101,800
2,097,500
2,104,500
2,536,500
2,547,300
3,095,100
3,106,100
3,124,500
3,401,000
3,428,600
3,420,400
3,118,200
3,063,000
3,861,900
4,887,100
5,107,300
5,111,100
5,118,000
4,934,200
4,484,000
5,226,100
5,228,600
5,258,000
4,736,500
5,581,000
6,303,000
6,333,000
6,363,000
6,422,000
6,340,000
6,355,000
6,969,000
7,413,000
7,285,000
7,158,000
7,476,000
7,389,000
6,963,000
6,923,000
6,851,000
0

6,851,000

6,923,000

6,963,000

7,389,000

7,476,000

7,158,000

7,285,000

7,413,000

6,969,000

6,355,000

6,340,000

6,422,000

6,363,000

6,333,000

6,303,000

5,581,000

4,736,500

5,258,000

5,228,600

5,226,100

4,484,000

4,934,200

5,118,000

5,111,100

5,107,300

4,887,100

3,861,900

3,063,000

3,118,200

3,420,400

3,428,600

3,401,000

3,124,500

3,106,100

3,095,100

2,547,300

2,536,500

2,104,500

2,097,500

2,101,800

2,098,600

1,605,000

1,610,200

1,607,400

1,611,900

1,110,800

1,137,400

1,172,500

1,200,900

1,228,000

1,221,100

1,228,300

1,235,600

742,500

744,400

746,200

750,000

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
206,600
0
192,600
203,100
208,200
227,800
187,900
176,500
181,100
172,100
146,400
147,300
150,900
156,800
168,500
158,200
152,500
165,100
148,700
149,300
130,900
136,000
167,800
154,700
145,700
132,700
137,700
176,200
167,200
169,600
316,100
135,100
135,300
170,200
143,800
142,500
136,600
189,300
197,200
178,800
191,400
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

191,400

178,800

197,200

189,300

136,600

142,500

143,800

170,200

135,300

135,100

316,100

169,600

167,200

176,200

137,700

132,700

145,700

154,700

167,800

136,000

130,900

149,300

148,700

165,100

152,500

158,200

168,500

156,800

150,900

147,300

146,400

172,100

181,100

176,500

187,900

227,800

208,200

203,100

192,600

206,600

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
60,500
69,400
70,500
69,200
72,300
75,300
78,700
81,500
80,000
106,500
122,600
137,600
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,800
6,000
6,000
5,000
5,000
0
0
0
0
0
0
0
0
0
0
0
0
0

5,000

6,000

5,800

137,600

122,600

106,500

80,000

81,500

78,700

75,300

72,300

69,200

70,500

69,400

60,500

Other Liabilities

0
0
0
0
0
0
0
0
0
128,300
142,600
101,200
129,900
130,900
130,100
121,800
156,800
159,900
190,700
162,500
204,600
210,500
217,200
208,100
245,900
209,300
215,600
221,300
228,900
239,000
251,700
268,900
270,100
283,400
291,200
330,300
467,000
428,500
475,300
549,000
571,600
575,600
589,300
605,700
616,100
552,500
548,500
585,800
592,800
591,800
601,700
639,700
650,500
646,200
628,600
617,900
624,100
620,000
623,700
661,600
691,500
702,300
730,800
665,000
656,400
680,000
682,800
783,400
798,900
781,900
754,100
753,100
767,300
736,200
749,000
759,100
769,400
771,900
919,100
1,193,100
1,172,900
1,498,900
1,511,400
1,539,800
1,433,100
1,408,800
1,405,200
1,450,000
1,384,000
1,378,000
1,455,000
1,574,000
1,369,000
1,381,000
953,000
1,295,000
0
1,502,000
1,578,000
1,289,000
1,169,000
0
1,130,000
0

1,130,000

1,169,000

1,289,000

1,578,000

1,502,000

1,295,000

953,000

1,381,000

1,369,000

1,574,000

1,455,000

1,378,000

1,384,000

1,450,000

1,405,200

1,408,800

1,433,100

1,539,800

1,511,400

1,498,900

1,172,900

1,193,100

919,100

771,900

769,400

759,100

749,000

736,200

767,300

753,100

754,100

781,900

798,900

783,400

682,800

680,000

656,400

665,000

730,800

702,300

691,500

661,600

623,700

620,000

624,100

617,900

628,600

646,200

650,500

639,700

601,700

591,800

592,800

585,800

548,500

552,500

616,100

605,700

589,300

575,600

571,600

549,000

475,300

428,500

467,000

330,300

291,200

283,400

270,100

268,900

251,700

239,000

228,900

221,300

215,600

209,300

245,900

208,100

217,200

210,500

204,600

162,500

190,700

159,900

156,800

121,800

130,100

130,900

129,900

101,200

142,600

128,300

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
0
0
0
0
0
0
0
0
0
0
124,100
107,100
135,200
153,400
120,500
112,800
133,500
130,300
131,000
127,500
147,300
156,700
153,700
145,400
153,000
158,700
159,200
159,700
168,300
183,000
233,000
238,000
227,900
222,300
222,500
212,700
216,300
253,700
245,500
242,500
238,400
237,500
239,800
588,100
481,600
510,000
489,200
354,800
351,700
353,400
348,600
355,700
357,000
424,000
414,000
385,000
404,000
404,000
142,000
137,000
138,000
498,000
572,000
604,000
457,000
476,000
485,000
178,000
0

178,000

485,000

476,000

457,000

604,000

572,000

498,000

138,000

137,000

142,000

404,000

385,000

414,000

424,000

357,000

355,700

348,600

353,400

351,700

354,800

489,200

510,000

481,600

588,100

239,800

237,500

238,400

242,500

245,500

253,700

216,300

212,700

222,500

222,300

227,900

238,000

233,000

183,000

168,300

159,700

159,200

158,700

153,000

145,400

153,700

156,700

147,300

127,500

131,000

130,300

133,500

112,800

120,500

153,400

135,200

107,100

124,100

> Total Stockholder Equity

0
-253,700
-326,900
-371,000
-367,900
-461,900
-433,600
-416,600
-332,400
-302,600
-261,100
-282,500
-323,900
-256,500
-295,600
-304,100
-251,300
-142,700
-180,500
-327,000
-271,900
-139,500
-90,200
-32,100
99,600
62,100
147,500
317,500
494,800
642,100
497,600
309,400
382,200
20,600
38,700
167,400
-70,100
-265,900
-609,500
-783,600
-903,000
-821,800
-893,800
-994,400
-924,900
-749,500
-647,500
-606,200
-534,000
-491,900
-297,600
-309,600
-223,200
-16,600
-174,200
-169,000
91,200
108,300
322,100
329,500
457,100
386,300
291,900
347,900
393,300
567,400
480,300
42,900
-146,200
-103,400
-240,200
-333,000
-351,500
-369,500
-357,900
-1,027,300
-724,200
-467,500
-156,800
-114,900
420,000
460,100
606,100
656,500
325,000
574,700
697,300
831,000
799,000
1,232,000
1,688,000
1,763,000
2,225,000
2,380,000
2,619,000
2,916,000
2,394,000
2,294,000
2,255,000
2,519,000
2,891,000
3,144,000
3,191,000
3,318,000

3,318,000

3,191,000

3,144,000

2,891,000

2,519,000

2,255,000

2,294,000

2,394,000

2,916,000

2,619,000

2,380,000

2,225,000

1,763,000

1,688,000

1,232,000

799,000

831,000

697,300

574,700

325,000

656,500

606,100

460,100

420,000

-114,900

-156,800

-467,500

-724,200

-1,027,300

-357,900

-369,500

-351,500

-333,000

-240,200

-103,400

-146,200

42,900

480,300

567,400

393,300

347,900

291,900

386,300

457,100

329,500

322,100

108,300

91,200

-169,000

-174,200

-16,600

-223,200

-309,600

-297,600

-491,900

-534,000

-606,200

-647,500

-749,500

-924,900

-994,400

-893,800

-821,800

-903,000

-783,600

-609,500

-265,900

-70,100

167,400

38,700

20,600

382,200

309,400

497,600

642,100

494,800

317,500

147,500

62,100

99,600

-32,100

-90,200

-139,500

-271,900

-327,000

-180,500

-142,700

-251,300

-304,100

-295,600

-256,500

-323,900

-282,500

-261,100

-302,600

-332,400

-416,600

-433,600

-461,900

-367,900

-371,000

-326,900

-253,700

Common Stock

0
0
0
0
0
0
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
1,700
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,400
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000
3,000

3,000

3,400

1,700

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
3,199,000
-647,500
3,329,000
3,442,600
3,538,900
3,650,100
3,736,200
3,892,100
4,048,800
4,147,400
4,176,100
4,350,000
4,486,300
4,634,100
4,713,300
4,902,200
5,082,100
5,210,600
5,302,100
5,521,900
5,780,700
5,936,200
6,044,300
6,276,400
6,468,400
6,631,700
6,709,000
6,895,100
7,077,800
7,261,200
6,688,900
7,031,000
7,269,600
7,513,400
7,465,400
7,913,000
8,204,600
8,429,100
8,594,400
8,893,600
9,107,700
9,391,600
9,656,000
10,041,000
10,442,000
10,804,000
11,011,000
11,632,000
12,094,000
12,451,000
12,762,000
13,132,000
13,328,000
13,501,000
13,618,000
13,979,000
14,213,000
0
0

14,213,000

13,979,000

13,618,000

13,501,000

13,328,000

13,132,000

12,762,000

12,451,000

12,094,000

11,632,000

11,011,000

10,804,000

10,442,000

10,041,000

9,656,000

9,391,600

9,107,700

8,893,600

8,594,400

8,429,100

8,204,600

7,913,000

7,465,400

7,513,400

7,269,600

7,031,000

6,688,900

7,261,200

7,077,800

6,895,100

6,709,000

6,631,700

6,468,400

6,276,400

6,044,300

5,936,200

5,780,700

5,521,900

5,302,100

5,210,600

5,082,100

4,902,200

4,713,300

4,634,100

4,486,300

4,350,000

4,176,100

4,147,400

4,048,800

3,892,100

3,736,200

3,650,100

3,538,900

3,442,600

3,329,000

-647,500

3,199,000

Accumulated Other Comprehensive Income

0
0
0
0
0
0
-229,900
-219,500
-224,000
-239,300
-4,000
-1,900
-3,300
-3,300
-2,400
-2,700
-3,100
-100
400
1,700
2,100
3,400
5,200
8,100
8,900
7,000
7,100
9,700
8,000
2,200
-1,200
-900
300
7,500
9,800
-8,400
-7,900
-3,600
1,000
15,600
27,800
27,100
-11,600
-52,100
-82,600
-30,100
-19,200
-41,200
-85,700
-83,300
-24,600
-33,400
-9,400
1,500
-70,500
-107,500
-78,700
-120,800
-85,800
-82,100
-138,800
-149,900
-100,200
-54,600
-61,300
-47,300
-133,600
-235,200
-322,400
-280,800
-320,300
-339,500
-301,500
-316,800
-305,700
-364,900
-357,300
-309,700
-257,800
-172,200
-51,900
-304,800
-342,000
-426,300
-455,500
-446,100
-537,300
-439,000
-554,000
-542,000
-504,000
-432,000
-440,000
-425,000
-462,000
-410,000
-471,000
-599,000
-748,000
-643,000
-589,000
-570,000
-652,000
-567,000

-567,000

-652,000

-570,000

-589,000

-643,000

-748,000

-599,000

-471,000

-410,000

-462,000

-425,000

-440,000

-432,000

-504,000

-542,000

-554,000

-439,000

-537,300

-446,100

-455,500

-426,300

-342,000

-304,800

-51,900

-172,200

-257,800

-309,700

-357,300

-364,900

-305,700

-316,800

-301,500

-339,500

-320,300

-280,800

-322,400

-235,200

-133,600

-47,300

-61,300

-54,600

-100,200

-149,900

-138,800

-82,100

-85,800

-120,800

-78,700

-107,500

-70,500

1,500

-9,400

-33,400

-24,600

-83,300

-85,700

-41,200

-19,200

-30,100

-82,600

-52,100

-11,600

27,100

27,800

15,600

1,000

-3,600

-7,900

-8,400

9,800

7,500

300

-900

-1,200

2,200

8,000

9,700

7,100

7,000

8,900

8,100

5,200

3,400

2,100

1,700

400

-100

-3,100

-2,700

-2,400

-3,300

-1,900

-4,000

-239,300

-224,000

-219,500

-229,900

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
380,700
0
391,100
364,300
372,700
384,100
391,500
367,200
369,100
386,700
394,500
357,000
367,800
375,500
365,100
342,800
358,700
377,100
405,800
371,200
385,000
402,300
383,900
370,600
396,700
424,800
451,300
431,700
457,300
450,400
477,200
447,000
465,500
495,600
528,600
506,600
538,600
569,700
600,900
435,700
574,500
607,900
642,000
616,000
651,000
699,000
735,000
739,000
784,000
832,000
885,000
826,000
965,000
1,013,000
1,054,000
1,068,000
1,124,000
1,175,000
0

1,175,000

1,124,000

1,068,000

1,054,000

1,013,000

965,000

826,000

885,000

832,000

784,000

739,000

735,000

699,000

651,000

616,000

642,000

607,900

574,500

435,700

600,900

569,700

538,600

506,600

528,600

495,600

465,500

447,000

477,200

450,400

457,300

431,700

451,300

424,800

396,700

370,600

383,900

402,300

385,000

371,200

405,800

377,100

358,700

342,800

365,100

375,500

367,800

357,000

394,500

386,700

369,100

367,200

391,500

384,100

372,700

364,300

391,100

380,700

Treasury Stock

-11,570,000

-11,513,000

-11,514,000

-11,403,000

-11,096,000

-10,513,000

-10,394,000

-10,270,000

-9,904,000

-9,748,000

-9,505,000

-9,513,000

-9,524,000

-9,250,000

-8,993,000

-8,886,700

-8,754,000

-8,312,500

-8,260,100

-8,198,900

-8,171,400

-8,152,900

-8,123,700

-8,108,600

-8,051,200

-8,029,600

-7,973,800

-7,821,700

-7,610,300

-7,389,200

-7,209,500

-6,918,900

-6,701,700

-6,384,200

-5,957,600

-5,676,400

-5,449,900

-5,319,700

-5,209,400

-4,846,700

-4,652,500

-4,614,500

-4,615,600

-4,637,600

-4,549,000

-4,635,500

-4,651,000

-4,448,900

-4,485,200

-4,407,300

-4,320,700

-4,331,800

-4,266,200

-4,288,500

-4,304,500

-4,310,300

-4,336,100

-4,361,600

-4,246,900

-4,117,900

-4,081,200

-3,851,600

-3,572,300

-3,110,000

-2,643,700

-2,264,700

-2,152,100

-2,011,100

-1,464,600

-1,353,200

-1,029,800

-737,400

-739,500

-777,200

-811,100

-800,200

-660,500

-677,200

-644,700

-604,800

-632,100

-597,700

-382,300

-326,700

-325,600

-307,500

-228,700

-155,700

-67,000

-100

Other Stockholders Equity

0
45,200
-65,000
-130,100
-187,000
-317,000
-96,700
-92,900
-71,100
-64,900
-100
-59,100
-140,000
-121,000
-203,800
-263,800
-276,200
-242,300
-341,300
-552,200
-582,700
-545,900
-577,200
-600,800
-562,200
-690,100
-689,200
-633,200
-561,700
-539,000
-810,200
-1,112,300
-1,186,900
-1,707,800
-1,829,300
-1,919,000
-2,289,000
-2,729,400
-3,193,400
-3,463,700
-3,716,400
-3,745,200
-3,867,300
-3,968,900
-3,959,200
-3,929,600
-3,916,900
-3,897,400
-3,901,900
-3,959,100
-3,936,600
-4,015,800
-4,118,000
-4,079,800
-4,264,300
-4,241,000
-4,192,000
-4,269,800
-4,240,100
-4,305,100
-4,309,700
-4,549,300
-4,832,300
-4,913,900
-5,078,700
-5,291,400
-5,555,300
-6,000,300
-6,331,100
-6,522,200
-6,784,700
-6,937,900
-7,178,600
-7,364,400
-7,523,400
-7,552,400
-7,604,200
-7,643,100
-7,628,100
-7,624,300
-7,664,800
-7,660,300
-7,690,400
-7,711,600
-8,318,300
-8,312,200
-8,385,100
-8,608,000
-8,908,000
-8,862,000
-8,806,000
-9,013,000
-9,165,000
-9,486,000
-9,562,000
-9,628,000
-10,270,000
-10,438,000
-10,501,000
-10,459,000
-10,502,000
-10,502,000
-10,620,000
-10,777,000

-10,777,000

-10,620,000

-10,502,000

-10,459,000

-10,501,000

-10,438,000

-10,270,000

-9,628,000

-9,562,000

-9,486,000

-9,165,000

-9,013,000

-8,806,000

-8,862,000

-8,908,000

-8,608,000

-8,385,100

-8,312,200

-8,318,300

-7,711,600

-7,690,400

-7,660,300

-7,664,800

-7,624,300

-7,628,100

-7,643,100

-7,604,200

-7,552,400

-7,523,400

-7,364,400

-7,178,600

-6,937,900

-6,784,700

-6,522,200

-6,331,100

-6,000,300

-5,555,300

-5,291,400

-5,078,700

-4,913,900

-4,832,300

-4,549,300

-4,309,700

-4,305,100

-4,240,100

-4,269,800

-4,192,000

-4,241,000

-4,264,300

-4,079,800

-4,118,000

-4,015,800

-3,936,600

-3,959,100

-3,901,900

-3,897,400

-3,916,900

-3,929,600

-3,959,200

-3,968,900

-3,867,300

-3,745,200

-3,716,400

-3,463,700

-3,193,400

-2,729,400

-2,289,000

-1,919,000

-1,829,300

-1,707,800

-1,186,900

-1,112,300

-810,200

-539,000

-561,700

-633,200

-689,200

-690,100

-562,200

-600,800

-577,200

-545,900

-582,700

-552,200

-341,300

-242,300

-276,200

-263,800

-203,800

-121,000

-140,000

-59,100

-100

-64,900

-71,100

-92,900

-96,700

-317,000

-187,000

-130,100

-65,000

45,200

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31
Accounts Payable	23,000	52,000	47,000	39,000	38,000	30,100	21,800	28,400	22,200	19,400	16,400	14,300	16,400	14,300	7,100	8,600	8,100	8,800	279,800	270,500	217,500	184,900	236,900	135,400	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
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
Accumulated Other Comprehensive Income	-567,000	-643,000	-410,000	-432,000	-439,000	-426,300	-172,200	-364,900	-339,500	-235,200	-54,600	-82,100	-107,500	-33,400	-41,200	-52,100	15,600	-8,400	-900	9,700	8,100	1,700	-2,700	-1,900	-219,500	-430,100
Additional Paid In Capital	0	0	0	0	0	0	477,200	477,200	0	0	0	396,600	0	0	-596,100	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	474,000	560,000	521,000	574,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	0	3,000	3,000	3,000	3,000	3,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	1,054,000	885,000	735,000	642,000	600,900	528,600	477,200	451,300	383,900	405,800	365,100	394,500	391,500	391,100	0	0	0	0	0	0	0	0	0	0	0
Cash	2,130,000	1,769,000	1,811,000	2,597,000	1,832,000	1,685,000	1,071,500	2,051,500	1,757,400	1,219,500	1,894,500	1,755,400	760,000	659,600	473,900	245,900	426,300	408,100	486,000	606,100	269,100	39,900	163,200	119,100	113,200	90,600
Cash And Equivalents	0	1,769,000	1,811,000	2,597,000	1,832,000	1,685,000	1,071,500	2,051,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	2,193,000	1,859,000	1,902,000	2,696,000	1,930,000	1,817,500	1,183,300	2,224,900	2,232,200	1,677,600	2,106,300	1,773,300	774,800	672,300	483,900	253,000	441,000	483,500	580,500	606,100	269,100	39,900	163,200	119,100	113,200	90,600
Common Stock	3,000	3,000	3,000	3,000	3,000	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	1,700	1,700	1,700	1,700	1,700	1,700	0
Common Stock Shares Outstanding	184,000	184,700	187,900	189,300	191,600	194,400	194,200	195,400	203,400	214,700	223,500	226,600	229,400	236,600	237,800	245,300	272,200	291,900	305,600	304,700	304,600	315,000	320,400	326,000	328,600	343,406
Common Stock Total Equity	0	3,000	3,000	3,000	3,000	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	1,700	1,700	1,700	1,700	1,700	1,700	0
Current Deferred Revenue	1,421,000	1,258,000	1,349,000	1,131,000	1,078,000	973,800	905,800	712,300	659,800	641,600	620,100	567,300	520,400	508,100	471,300	435,000	426,000	360,300	299,100	266,700	214,600	170,000	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	197,200	143,800	316,100	137,700	167,800	148,700	168,500	146,400	187,900	192,600	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	457,000	138,000	404,000	357,000	351,700	481,600	238,400	216,300	227,900	168,300	153,000	147,300	133,500	135,200	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
Good Will	5,956,000	5,839,000	5,999,000	4,556,000	3,722,000	3,781,300	3,753,200	1,023,600	976,300	1,021,100	665,200	637,100	642,900	465,500	349,200	338,000	179,900	176,100	152,100	131,700	126,400	126,300	6,000	8,500	0	0
Intangible Assets	2,049,000	2,210,000	2,467,000	1,824,000	1,498,000	1,566,100	1,631,600	296,400	299,100	345,500	221,600	226,500	253,600	168,800	104,900	114,000	56,900	65,700	222,900	202,400	203,800	210,700	10,300	13,700	167,500	191,800
Inventory	0	-3,511,000	212,000	216,000	150,000	202,100	213,500	112,700	179,500	169,200	142,000	117,800	-489,800	167,400	-444,900	26,500	0	0	0	0	0	0	0	0	0	0
Liabilities And Stockholders Equity	14,622,000	14,349,000	14,680,000	12,409,000	10,265,000	9,526,200	8,605,200	5,327,300	5,123,400	4,680,100	4,394,600	3,960,900	2,876,100	2,540,300	2,003,500	1,773,400	1,714,600	1,497,700	1,457,200	1,376,000	941,400	630,800	505,400	398,300	1,785,700	1,789,200
Long Term Debt	0	7,389,000	7,413,000	6,422,000	5,581,000	5,226,100	5,111,100	3,063,000	3,401,000	2,547,300	2,101,800	1,607,400	1,172,500	1,228,300	746,200	750,000	600,000	300,000	300,000	0	301,300	303,900	300,000	300,000	0	0
Long Term Debt Total	0	7,389,000	7,413,000	6,422,000	5,581,000	5,226,100	5,111,100	3,063,000	3,401,000	2,547,300	2,101,800	1,607,400	1,172,500	1,228,300	746,200	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	0	517,000	443,000	135,000	117,000	104,600	99,100	26,300	95,800	87,000	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
Net Debt	5,285,000	-1,295,000	-1,251,000	-2,076,000	-1,258,000	3,991,000	4,469,000	1,311,500	1,643,600	1,327,800	207,300	-84,200	483,800	580,000	719,800	1,221,800	725,600	-108,100	-186,000	-306,100	30,900	395,700	136,800	180,900	14,100	-53,700
Net Invested Capital	0	9,908,000	10,140,000	7,991,000	6,193,000	6,135,900	5,212,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	1,738,000	1,652,000	1,720,000	1,430,000	1,419,000	1,287,100	1,147,200	887,400	802,000	792,400	694,200	621,800	489,800	497,500	444,900	421,800	443,600	475,400	421,800	358,400	270,300	178,100	148,400	101,000	454,400	445,200
Net Tangible Assets	0	-5,530,000	2,916,000	-4,811,000	-4,602,000	-4,887,500	-5,712,500	-2,545,000	-1,840,400	-1,554,400	-469,800	-406,100	-1,005,000	-943,900	-1,060,300	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	1,725,000	1,719,000	1,515,000	2,287,000	1,767,000	1,288,400	517,300	824,900	2,024,600	1,486,700	1,827,500	1,360,800	290,400	409,200	-225,900	-584,000	-360,100	301,900	472,900	185,400	136,900	-189,700	11,900	24,500	-629,800	-588,700
Non Current Assets Total	10,397,000	10,255,000	10,669,000	7,900,000	6,586,000	6,139,300	6,013,600	2,074,200	1,880,300	1,993,700	1,425,800	1,435,200	1,451,700	1,197,300	993,200	964,300	725,500	495,800	405,400	353,400	372,400	358,500	134,200	120,700	1,000,700	1,025,200
Non Current Liabilities Other	0	996,000	9,268,000	1,598,000	1,578,000	1,193,400	1,053,100	625,000	620,600	651,200	555,800	566,700	520,200	543,100	482,000	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	8,646,000	9,285,000	9,268,000	8,424,000	7,522,000	6,771,200	6,645,800	3,926,400	4,237,900	3,437,500	2,905,400	2,396,000	1,840,000	1,904,900	1,363,400	1,374,700	1,149,000	630,300	568,900	221,300	541,400	495,800	450,200	427,700	485,600	505,800
Non Currrent Assets Other	614,000	575,000	591,000	380,000	272,000	169,700	60,800	85,900	132,100	135,400	74,100	57,700	44,800	25,000	50,700	44,500	274,100	192,000	127,100	105,800	121,800	97,200	81,000	63,600	553,200	535,100
Noncontrolling Interest In Consolidated Entity	0	170,000	189,000	194,000	219,000	196,600	212,800	197,700	232,000	230,700	10,900	11,400	10,600	11,200	10,100	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	1,358,000	10,669,000	1,242	491,000	349,000	182,000	362,300	194,400	244,100	223,300	226,200	191,200	212,900	243,300	264,600	274,100	192,000	127,100	105,800	121,800	97,200	81,000	63,600	0	0
Other Current Assets	294,000	4,094,000	177,000	167,000	180,000	80,200	47,600	28,100	29,400	47,200	26,300	12,800	649,600	5,800	526,400	107,800	104,500	43,000	49,500	58,100	29,600	54,300	59,600	57,500	217,400	228,200
Other Current Liab	948,000	959,000	995,000	958,000	707,000	644,700	717,300	1,387,500	536,500	538,700	504,800	519,500	525,900	400,100	310,300	231,800	363,200	330,900	279,800	458,800	217,500	342,300	122,400	117,700	1,287,500	1,315,800
Other Liab	0	1,289,000	1,295,000	1,574,000	1,450,000	1,540,000	1,531,200	863,400	836,900	783,400	665,000	661,600	617,900	639,700	585,800	605,700	549,000	330,300	268,900	221,300	208,100	162,500	121,800	101,200	0	0
Other Stockholder Equity	-10,777,000	-10,459,000	-9,439,000	-8,819,000	-8,389,000	-7,711,600	-7,624,300	-7,552,400	-6,937,900	-6,000,300	-4,913,900	-4,305,100	-4,241,000	-4,015,800	-3,897,400	-3,968,900	-3,463,700	-1,919,000	-1,112,300	-633,200	-600,800	-552,200	-263,800	-59,100	-92,900	300,000
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
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	396,600	0	0	-596,100	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	0	1,971,000	1,795,000	671,000	748,000	320,400	325,100	325,900	306,400	302,300	278,700	307,100	326,800	319,300	293,000	247,700	214,600	62,000	55,400	45,200	46,800	50,600	42,900	43,400	280,000	298,300
Property Plant And Equipment Net	880,000	848,000	785,000	671,000	748,000	320,400	325,100	325,900	306,400	302,300	278,700	307,100	326,800	319,300	293,000	247,700	214,600	62,000	55,400	45,200	46,800	50,600	42,900	43,400	280,000	298,300
Property Plant Equipment	0	848,000	438,000	278,000	292,000	320,400	325,100	325,900	306,400	302,300	278,700	307,100	326,800	319,300	293,000	247,700	214,600	62,000	55,400	45,200	46,800	50,600	42,900	43,400	0	0
Retained Earnings	14,659,000	13,618,000	12,762,000	11,011,000	9,656,000	8,594,400	7,465,400	6,688,900	6,709,000	6,044,300	5,302,100	4,713,300	4,176,100	3,736,200	3,329,000	3,023,200	2,661,100	2,091,400	1,419,200	939,300	558,900	221,800	-39,300	-223,200	-105,900	-240,900
Retained Earnings Total Equity	0	13,618,000	12,762,000	11,011,000	9,656,000	8,594,400	7,465,400	6,688,900	6,709,000	6,044,300	5,302,100	4,713,300	4,176,100	3,736,200	3,329,000	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	0	0	0	0	0	449,900	429,400	300,000	3,380,600	2,547,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	7,415,000	474,000	560,000	521,000	574,000	5,676,000	5,540,500	3,363,000	3,401,000	2,547,300	2,101,800	1,671,200	1,243,800	1,239,600	1,193,700	1,467,700	1,151,900	300,000	300,000	300,000	300,000	435,600	300,000	300,000	127,300	36,900
Short Term Debt	108,000	106,000	105,000	94,000	89,000	449,900	429,400	300,000	3,380,600	2,547,300	0	63,800	71,300	11,300	447,500	717,700	551,900	0	-279,800	300,000	-217,500	107,100	0	0	127,300	36,900
Short Term Investments	63,000	90,000	91,000	99,000	98,000	132,500	111,800	173,400	474,800	458,100	211,800	17,900	14,800	12,700	10,000	7,100	14,700	75,400	94,500	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	396,600	0	0	-596,100	0	0	0	0	0	0	0	0	0	0	0
Total Assets	14,622,000	14,349,000	14,680,000	12,409,000	10,265,000	9,526,200	8,605,200	5,327,300	5,123,400	4,680,100	4,394,600	3,960,900	2,876,100	2,540,300	2,003,500	1,773,400	1,714,600	1,497,700	1,457,200	1,376,000	941,400	630,800	505,400	398,300	1,785,700	1,789,200
Total Current Assets	4,225,000	4,094,000	4,011,000	4,509,000	3,679,000	3,386,900	2,591,600	3,253,100	3,243,100	2,686,400	2,968,800	2,525,700	1,424,400	1,343,000	1,010,300	809,100	989,100	1,001,900	1,051,800	1,022,600	569,000	272,300	371,200	277,600	785,000	764,000
Total Current Liabilities	2,500,000	2,375,000	2,496,000	2,222,000	1,912,000	2,098,500	2,074,300	2,428,200	1,218,500	1,199,700	1,141,300	1,164,900	1,134,000	933,800	1,236,200	1,393,100	1,349,200	700,000	578,900	837,200	432,100	462,000	359,300	253,100	1,414,800	1,352,700
Total Liab	11,146,000	14,349,000	11,764,000	10,646,000	9,434,000	8,869,700	8,720,100	6,354,600	5,456,400	4,680,100	4,394,600	3,960,900	2,974,000	2,838,700	2,599,600	2,767,800	2,498,200	1,330,300	1,147,800	1,058,500	973,500	957,800	809,500	680,800	1,900,400	1,858,500
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	396,600	0	0	-596,100	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	3,318,000	2,519,000	2,916,000	1,763,000	831,000	656,500	-114,900	-1,027,300	-333,000	42,900	347,900	329,500	-158,400	-309,600	-596,100	-994,400	-783,600	167,400	309,400	317,500	-32,100	-327,000	-304,100	-282,500	-416,600	-371,000
Treasury Stock	0	-11,513,000	-10,513,000	-9,748,000	-9,250,000	-8,312,500	-8,152,900	-8,029,600	-7,389,200	-6,384,200	-5,319,700	-4,614,500	-4,635,500	-4,407,300	-4,288,500	-4,361,600	-3,851,600	-2,264,700	-1,353,200	-777,200	-677,200	-597,700	-307,500	-67,000	0	0
Warrants	0	0	0	0	6,000	0	0	0	0	0	80,000	72,300	60,500	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31
Accounts Payable	23,000	41,000	37,000	70,000	52,000	34,000	31,000	42,000	47,000	30,000	18,000	21,000	39,000	26,000	36,000	26,000	38,000	14,800	4,900	19,500	30,100	16,200	22,500	32,000	21,800	29,200	25,000	24,100	28,400	28,000	35,600	14,400	22,200	17,600	16,600	21,100	19,400	17,600	20,400	16,500	16,400	10,000	14,900	16,100	14,300	14,600	18,000	16,800	16,400	311,200	8,600	273,900	14,300	321,000	248,600	253,200	7,100	241,900	262,000	198,800	8,600	208,100	198,900	256,500	8,100	317,400	282,400	282,900	8,800	222,800	192,200	205,200	279,800	244,500	251,700	238,000	270,500	236,600	181,900	158,700	217,500	175,600	149,800	155,800	184,900	165,200	173,100	169,700	236,900	203,400	142,100	143,200	135,400	107,300	81,500	0	0	0	0	0	0	0	-	-
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Accumulated Other Comprehensive Income	-567,000	-652,000	-570,000	-589,000	-643,000	-748,000	-599,000	-471,000	-410,000	-462,000	-425,000	-440,000	-432,000	-504,000	-542,000	-554,000	-439,000	-537,300	-446,100	-455,500	-426,300	-342,000	-304,800	-51,900	-172,200	-257,800	-309,700	-357,300	-364,900	-305,700	-316,800	-301,500	-339,500	-320,300	-280,800	-322,400	-235,200	-133,600	-47,300	-61,300	-54,600	-100,200	-149,900	-138,800	-82,100	-85,800	-120,800	-78,700	-107,500	-70,500	1,500	-9,400	-33,400	-24,600	-83,300	-85,700	-41,200	-19,200	-30,100	-82,600	-52,100	-11,600	27,100	27,800	15,600	1,000	-3,600	-7,900	-8,400	9,800	7,500	300	-900	-1,200	2,200	8,000	9,700	7,100	7,000	8,900	8,100	5,200	3,400	2,100	1,700	400	-100	-3,100	-2,700	-2,400	-3,300	-3,300	-1,900	-4,000	-239,300	-224,000	-219,500	-229,900	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	477,200	0	0	0	477,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	396,600	322,100	108,300	0	0	0	0	0	0	-297,600	-491,900	-534,000	-596,100	-647,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Capital Lease Obligations	0	421,000	449,000	455,000	474,000	493,000	526,000	546,000	560,000	573,000	478,000	500,000	521,000	530,000	541,000	552,000	574,000	584,500	599,300	610,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,175,000	1,124,000	1,068,000	1,054,000	1,013,000	965,000	826,000	885,000	832,000	784,000	739,000	735,000	699,000	651,000	616,000	642,000	607,900	574,500	435,700	600,900	569,700	538,600	506,600	528,600	495,600	465,500	447,000	477,200	450,400	457,300	431,700	451,300	424,800	396,700	370,600	383,900	402,300	385,000	371,200	405,800	377,100	358,700	342,800	365,100	375,500	367,800	357,000	394,500	386,700	369,100	367,200	391,500	384,100	372,700	364,300	391,100	0	380,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Cash	2,130,000	2,006,000	2,278,000	2,119,000	1,769,000	1,656,000	1,617,000	1,750,000	1,811,000	2,239,000	2,809,000	2,769,000	2,597,000	2,492,000	2,099,000	2,141,000	1,832,000	1,178,000	1,195,900	1,196,600	1,685,000	1,034,800	1,314,500	1,277,300	1,071,500	962,800	3,280,900	2,129,600	2,051,500	1,746,100	1,674,300	1,576,100	1,757,400	1,471,100	1,538,600	1,509,900	1,219,500	1,940,800	1,777,300	1,792,200	1,894,500	1,835,100	1,633,000	1,758,000	1,755,400	1,518,500	824,100	814,700	760,000	854,200	938,500	719,500	659,600	793,700	485,900	496,400	473,900	422,700	392,800	341,700	245,900	438,600	380,100	339,700	426,300	421,100	361,600	289,500	408,100	281,600	223,200	495,900	486,000	736,700	930,800	777,000	606,100	451,000	332,300	368,100	269,100	179,900	81,200	57,800	39,900	69,900	78,500	177,800	163,200	174,700	164,400	99,000	119,100	22,600	54,800	70,000	113,200	70,800	76,400	70,900	90,600	156,400	247,900	-
Cash And Equivalents	0	2,006,000	2,278,000	2,119,000	1,769,000	1,656,000	1,617,000	1,750,000	1,811,000	2,239,000	2,809,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2,193,000	2,079,000	2,335,000	2,197,000	1,859,000	1,745,000	1,703,000	1,853,000	1,902,000	2,343,000	2,897,000	2,865,000	2,696,000	2,588,000	2,199,000	2,231,000	1,930,000	1,273,800	1,315,400	1,310,600	1,817,500	1,145,500	1,415,700	1,377,800	1,183,300	1,071,100	3,367,200	2,262,400	2,224,900	2,057,900	2,026,800	2,066,700	2,232,200	1,941,300	2,047,500	1,995,400	1,677,600	2,105,600	1,959,300	1,969,500	2,106,300	2,044,700	1,650,900	1,769,600	1,773,300	1,541,200	839,500	828,000	774,800	867,500	949,500	726,200	672,300	804,500	493,600	503,900	483,900	429,500	397,700	348,500	253,000	445,800	392,800	349,600	441,000	425,700	375,000	299,800	483,500	294,600	230,300	605,000	580,500	818,400	930,800	777,000	606,100	451,000	332,300	368,100	269,100	179,900	81,200	57,800	39,900	69,900	78,500	177,800	163,200	174,700	164,400	99,000	119,100	22,600	54,800	70,000	113,200	70,800	76,400	70,900	90,600	156,400	247,900	-
Common Stock	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	0	0	0	0	-	-
Common Stock Shares Outstanding	183,600	184,000	184,100	184,100	183,900	183,900	184,900	186,100	187,400	187,300	187,900	188,600	189,200	189,300	189,000	189,600	190,600	191,100	191,300	192,800	194,000	194,500	194,400	194,500	194,400	194,100	193,800	194,300	193,400	194,300	195,800	197,900	200,200	202,500	204,400	206,500	210,500	214,200	215,700	218,500	219,000	222,000	226,200	227,200	227,300	226,100	227,200	227,400	223,400	229,000	231,500	231,400	228,900	235,700	236,500	239,100	236,900	238,200	238,100	236,500	235,400	244,600	248,100	251,000	247,400	267,600	276,000	284,900	277,700	287,900	293,700	299,500	290,500	307,700	307,700	306,100	299,000	301,300	304,200	306,200	298,200	307,000	306,000	303,000	296,200	318,800	318,600	316,200	308,800	323,000	322,400	322,200	318,000	326,200	326,610	325,010	322,400	325,400	329,611	328,113	343,500	343,500	350,286	343,243
Common Stock Total Equity	0	0	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	3,400	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	1,700	0	0	0	0	0	0	0	-	-
Current Deferred Revenue	1,421,000	1,226,000	1,385,000	1,578,000	1,258,000	1,155,000	1,285,000	1,641,000	1,349,000	1,195,000	1,202,000	1,275,000	1,131,000	962,000	1,045,000	1,154,000	1,078,000	881,200	973,600	1,085,200	973,800	794,700	883,700	1,026,100	905,800	814,700	771,900	848,500	712,300	679,500	718,000	787,300	659,800	644,500	709,400	759,000	641,600	633,100	684,200	716,500	620,100	583,900	607,300	646,000	567,300	525,700	569,800	609,300	520,400	480,600	534,900	554,000	508,100	447,200	481,700	516,200	471,300	427,500	462,700	479,500	435,000	392,100	434,700	463,000	426,000	368,400	398,300	410,100	360,300	302,500	334,900	344,900	299,100	261,300	291,500	297,300	266,700	234,000	248,000	252,300	214,600	184,400	200,100	203,300	170,000	159,000	173,300	154,900	0	135,600	145,500	150,400	0	0	0	0	0	0	0	0	0	0	-	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	191,400	178,800	197,200	189,300	136,600	142,500	143,800	170,200	135,300	135,100	316,100	169,600	167,200	176,200	137,700	132,700	145,700	154,700	167,800	136,000	130,900	149,300	148,700	165,100	152,500	158,200	168,500	156,800	150,900	147,300	146,400	172,100	181,100	176,500	187,900	227,800	208,200	203,100	192,600	0	206,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	178,000	485,000	476,000	457,000	604,000	572,000	498,000	138,000	137,000	142,000	404,000	404,000	385,000	414,000	424,000	357,000	355,700	348,600	353,400	351,700	354,800	489,200	510,000	481,600	588,100	239,800	237,500	238,400	242,500	245,500	253,700	216,300	212,700	222,500	222,300	227,900	238,000	233,000	183,000	168,300	159,700	159,200	158,700	153,000	145,400	153,700	156,700	147,300	127,500	131,000	130,300	133,500	112,800	120,500	153,400	135,200	107,100	124,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Good Will	5,956,000	5,831,000	5,926,000	5,892,000	5,839,000	5,617,000	5,841,000	6,039,000	5,999,000	5,898,000	4,590,000	4,566,000	4,556,000	4,282,000	4,162,000	4,122,000	3,722,000	3,610,000	3,664,900	3,762,500	3,781,300	3,661,300	3,662,700	3,831,500	3,753,200	3,722,100	1,054,500	1,029,600	1,023,600	1,040,800	1,047,200	1,050,900	976,300	990,000	1,006,800	988,000	1,021,100	1,000,300	955,200	656,600	665,200	630,800	619,800	623,800	637,100	646,300	638,100	656,300	642,900	451,100	470,400	463,300	465,500	355,200	345,100	347,300	349,200	350,400	344,600	333,800	338,000	202,800	205,800	206,000	179,900	179,700	179,800	178,300	176,100	154,000	154,000	153,700	152,100	131,600	131,700	131,800	131,700	127,500	127,100	127,200	126,400	126,400	126,300	126,100	126,300	126,200	125,200	0	6,000	0	0	0	8,500	0	0	0	0	0	0	0	0	0	-	-
Intangible Assets	2,049,000	2,058,000	2,138,000	2,177,000	2,210,000	2,182,000	2,300,000	2,422,000	2,467,000	2,510,000	1,784,000	1,810,000	1,824,000	1,717,000	1,697,000	1,709,000	1,498,000	1,454,100	1,486,000	1,530,400	1,566,100	1,517,600	1,541,400	1,641,600	1,631,600	1,633,100	287,100	289,800	296,400	307,800	319,200	329,200	299,100	308,800	322,600	328,000	345,500	349,800	310,500	212,800	221,600	198,200	202,000	212,700	226,500	233,300	238,000	249,300	253,600	153,000	166,800	167,700	168,800	93,300	93,100	100,100	104,900	104,200	106,700	107,100	114,000	63,700	65,500	68,100	56,900	59,600	61,600	63,500	65,700	64,100	66,600	69,100	222,900	197,500	199,100	200,900	202,400	199,900	201,100	203,000	203,800	205,600	207,200	208,600	210,700	212,300	87,800	14,700	10,300	11,700	12,400	13,100	13,700	14,200	148,800	174,100	167,500	168,500	171,100	179,000	191,800	189,900	188,000	-
Inventory	0	0	0	0	-3,511,000	0	0	228,000	212,000	189,000	225,000	192,000	216,000	198,000	198,000	178,000	150,000	-2,248,200	-2,302,600	208,200	202,100	156,000	198,200	151,200	213,500	164,800	224,200	249,200	112,700	103,100	126,100	143,300	179,500	163,300	166,500	164,000	169,200	201,200	198,300	-2,632,000	142,000	132,700	173,300	98,000	117,800	-549,600	-530,500	-589,200	154,400	-400,500	-492,600	-503,400	167,400	-410,600	-389,100	-427,000	50,900	-378,900	-407,600	31,600	26,500	29,100	34,300	28,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Liabilities And Stockholders Equity	14,622,000	14,191,000	14,691,000	14,719,000	14,349,000	13,939,000	14,315,000	14,739,000	14,680,000	14,414,000	12,552,000	12,500,000	12,409,000	11,672,000	11,298,000	11,306,000	10,265,000	9,477,800	9,591,600	9,518,100	9,526,200	8,439,100	8,751,600	9,014,000	8,605,200	8,304,900	6,536,300	5,435,900	5,327,300	5,019,300	5,044,900	5,114,900	5,123,400	4,772,900	4,999,500	4,976,000	4,680,100	4,993,700	5,029,200	4,353,400	4,394,600	4,154,500	3,794,300	3,911,200	3,960,900	3,662,300	2,963,900	2,994,400	2,876,100	2,521,300	2,744,600	2,524,400	2,540,300	2,348,200	1,957,700	2,003,300	2,003,300	1,874,200	1,873,900	1,802,100	1,773,400	1,694,300	1,664,400	1,586,800	1,714,600	1,551,600	1,553,300	1,469,900	1,497,700	1,155,200	1,131,100	1,502,400	1,457,200	1,555,100	1,724,300	1,559,000	1,376,000	1,134,000	1,001,300	1,056,500	941,400	787,000	720,900	684,900	630,800	634,400	663,600	530,100	505,400	473,500	462,000	399,600	398,300	297,000	1,428,400	1,811,400	1,785,700	1,713,200	1,720,000	1,821,300	1,789,200	1,669,300	1,816,300	-
Long Term Debt	0	6,851,000	6,923,000	6,963,000	7,389,000	7,476,000	7,158,000	7,285,000	7,413,000	6,969,000	6,355,000	6,340,000	6,422,000	6,363,000	6,333,000	6,303,000	5,581,000	4,736,500	5,258,000	5,228,600	5,226,100	4,484,000	4,934,200	5,118,000	5,111,100	5,107,300	4,887,100	3,861,900	3,063,000	3,118,200	3,420,400	3,428,600	3,401,000	3,124,500	3,106,100	3,095,100	2,547,300	2,536,500	2,104,500	2,097,500	2,101,800	2,098,600	1,605,000	1,610,200	1,607,400	1,611,900	1,110,800	1,137,400	1,172,500	1,200,900	1,228,000	1,221,100	1,228,300	1,235,600	742,500	744,400	746,200	748,100	750,000	750,000	750,000	750,000	750,000	600,000	600,000	600,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	0	0	0	300,300	300,000	300,000	301,300	300,000	300,000	300,000	303,900	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	195,500	0	0	0	0	0	0	0	0	-	-
Long Term Debt Total	0	6,851,000	6,923,000	6,963,000	7,389,000	7,476,000	7,158,000	7,285,000	7,413,000	6,969,000	6,355,000	6,340,000	6,422,000	6,363,000	6,333,000	6,303,000	5,581,000	4,736,500	5,258,000	5,228,600	5,226,100	4,484,000	4,934,200	5,118,000	5,111,100	5,107,300	4,887,100	3,861,900	3,063,000	3,118,200	3,420,400	3,428,600	3,401,000	3,124,500	3,106,100	3,095,100	2,547,300	2,536,500	2,104,500	2,097,500	2,101,800	2,098,600	1,605,000	1,610,200	1,607,400	1,611,900	1,110,800	1,137,400	1,172,500	1,200,900	1,228,000	1,221,100	1,228,300	1,235,600	742,500	744,400	746,200	0	750,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Long Term Investments	0	619,000	622,000	520,000	517,000	504,000	514,000	450,000	443,000	149,000	151,000	149,000	135,000	123,000	125,000	121,000	117,000	113,000	121,400	111,600	131,000	144,100	155,200	144,700	121,200	0	0	0	66,000	0	0	0	95,800	0	0	0	87,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Debt	5,285,000	5,266,000	5,394,000	5,798,000	-1,295,000	6,313,000	6,566,000	6,582,000	-1,251,000	-1,666,000	-2,331,000	-2,269,000	-2,076,000	-1,962,000	-1,558,000	-1,589,000	-1,258,000	-593,500	-596,600	-585,700	3,991,000	3,919,700	4,009,500	4,230,300	4,469,000	4,758,600	1,606,200	1,946,100	1,311,500	1,672,000	1,746,100	1,852,500	1,643,600	1,653,400	1,567,500	1,585,200	1,327,800	595,700	327,200	305,300	207,300	263,500	-28,000	-115,900	-84,200	189,000	414,200	422,100	483,800	389,800	304,500	514,700	580,000	466,300	620,500	248,000	719,800	858,300	937,600	1,068,800	1,221,800	960,000	896,900	859,000	725,600	578,900	348,400	90,500	-108,100	18,400	76,800	-195,900	-186,000	-436,700	-630,800	-477,000	-306,100	-150,700	-32,300	-68,100	30,900	120,100	218,800	335,300	395,700	230,100	221,500	122,200	136,800	125,300	135,600	201,000	180,900	172,900	237,100	-31,100	14,100	31,800	52,800	-6,600	-53,700	-154,900	-247,900	-
Net Invested Capital	0	10,042,000	10,367,000	10,353,000	9,908,000	9,731,000	9,951,000	10,180,000	10,140,000	9,906,000	8,541,000	8,370,000	7,991,000	7,860,000	7,374,000	7,370,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,738,000	1,513,000	1,542,000	1,712,000	1,652,000	1,518,000	1,602,000	1,824,000	1,720,000	1,589,000	1,458,000	1,497,000	1,430,000	1,360,000	1,401,000	1,413,000	1,419,000	1,228,400	1,245,300	1,301,200	1,287,100	1,131,800	1,137,100	1,207,400	1,147,200	1,007,300	916,500	953,500	887,400	831,400	843,700	852,100	802,000	720,500	801,300	842,700	792,400	712,200	758,300	737,900	694,200	592,000	607,700	637,200	621,800	549,600	530,500	589,200	489,800	400,500	492,600	503,400	497,500	410,600	389,100	427,000	444,900	378,900	407,600	403,600	421,800	348,700	415,200	405,400	443,600	393,100	484,000	499,300	475,400	359,600	424,600	422,800	421,800	336,800	379,400	364,600	358,400	285,500	295,800	281,500	270,300	207,800	237,200	223,200	178,100	151,700	177,600	158,400	148,400	112,400	117,500	123,700	101,000	87,800	332,200	508,000	454,400	426,000	441,400	518,200	445,200	375,300	425,400	-
Net Tangible Assets	0	-4,698,000	-4,920,000	-5,178,000	-5,530,000	-5,544,000	-5,847,000	-6,067,000	2,916,000	2,619,000	2,380,000	-4,346,000	-4,811,000	-4,497,000	-4,813,000	-5,243,000	-4,602,000	-4,585,700	-4,798,100	-5,169,700	-4,887,500	-4,778,800	-4,961,200	-5,273,400	-5,712,500	-5,724,300	-2,021,400	-2,246,500	-2,545,000	-1,913,100	-1,966,400	-1,961,700	-1,840,400	-1,768,700	-1,660,600	-1,689,700	-1,554,400	-961,800	-697,700	-377,600	-469,800	-466,000	-295,500	-304,100	-406,100	-498,800	-706,500	-753,500	-1,005,000	-788,100	-663,300	-862,900	-943,900	-756,200	-938,300	-989,000	-1,060,300	0	-1,208,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,725,000	1,768,000	1,723,000	1,438,000	1,719,000	1,660,000	1,065,000	1,074,000	1,515,000	1,462,000	2,684,000	2,541,000	2,287,000	2,560,000	2,077,000	1,643,000	1,767,000	904,300	1,314,700	892,800	1,288,400	692,600	995,800	897,900	517,300	296,200	3,321,900	2,061,700	824,900	1,614,400	1,883,700	1,933,400	2,024,600	1,811,900	1,939,200	1,901,100	1,486,700	2,020,200	1,850,900	1,918,500	1,827,500	1,885,000	1,545,600	1,506,900	1,360,800	1,222,900	524,200	515,100	290,400	525,100	691,100	498,600	409,200	508,800	-134,200	-138,900	-223,100	-305,800	-404,500	-482,700	-584,000	-331,000	-247,800	-465,700	-360,100	-215,200	-172,700	106,100	301,900	154,900	152,700	512,700	472,900	692,200	527,500	370,000	185,400	318,900	224,800	269,000	136,900	78,100	18,800	-121,100	-189,700	-42,400	-34,800	72,100	11,900	7,200	50,300	-13,800	24,500	-51,700	-477,700	-567,700	-629,800	-653,300	-657,900	-573,300	-588,700	-243,200	-	-
Non Current Assets Total	10,397,000	10,154,000	10,301,000	10,293,000	10,255,000	10,213,000	10,495,000	10,677,000	10,669,000	10,159,000	7,818,000	7,805,000	7,900,000	7,391,000	7,335,000	7,312,000	6,586,000	6,435,500	6,437,000	6,619,700	6,139,300	5,922,900	5,911,900	6,195,200	6,013,600	6,026,000	1,977,200	1,950,400	2,074,200	2,002,400	2,014,800	2,029,600	1,880,300	1,910,800	1,935,500	1,936,700	1,993,700	1,931,800	1,840,300	1,407,600	1,425,800	1,372,300	1,351,600	1,390,900	1,435,200	1,456,500	1,444,500	1,467,800	1,451,700	1,161,300	1,201,500	1,184,800	1,197,300	1,046,800	997,700	995,300	990,400	977,700	973,300	946,000	964,300	776,500	751,600	734,300	725,500	681,000	635,300	590,800	495,800	475,000	451,300	439,600	405,400	357,100	353,600	353,700	353,400	344,500	346,600	376,500	372,400	348,900	352,200	353,800	358,500	352,600	352,000	133,400	134,200	127,300	124,100	119,800	120,700	128,700	932,800	1,013,500	1,000,700	1,023,600	1,014,200	1,019,900	1,025,200	969,500	966,500	-
Non Current Liabilities Other	0	647,000	1,304,000	1,234,000	996,000	896,000	1,351,000	1,386,000	9,268,000	529,000	8,122,000	1,377,000	1,598,000	1,510,000	1,428,000	1,423,000	1,578,000	1,544,500	1,570,400	1,605,500	1,193,400	1,170,600	1,024,200	1,045,100	1,053,100	783,600	639,700	636,900	625,000	614,000	602,100	632,200	620,600	625,700	649,500	666,600	651,200	559,600	559,200	545,800	555,800	625,600	597,500	588,700	566,700	530,800	525,400	528,200	520,200	532,200	550,200	555,200	543,100	504,800	492,400	492,600	482,000	0	444,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	8,646,000	8,570,000	8,712,000	8,673,000	9,285,000	9,443,000	9,081,000	9,169,000	9,268,000	9,002,000	8,122,000	8,121,000	8,424,000	8,263,000	8,180,000	8,156,000	7,522,000	6,642,500	7,177,000	7,187,500	6,771,200	6,009,400	6,447,600	6,673,100	6,645,800	6,479,000	5,766,600	4,736,300	3,926,400	3,974,700	4,268,000	4,314,500	4,237,900	3,962,900	3,978,100	3,984,000	3,437,500	3,471,700	3,017,300	2,932,800	2,905,400	2,965,400	2,440,400	2,357,600	2,396,000	2,357,300	1,789,900	1,822,300	1,840,000	1,860,600	1,909,200	1,906,600	1,904,900	1,853,200	1,355,400	1,390,400	1,363,400	1,319,400	1,318,300	1,382,600	1,374,700	1,339,300	1,325,600	1,171,600	1,149,000	1,075,300	728,500	767,000	630,300	591,200	583,400	570,100	568,900	551,700	239,000	228,900	221,300	515,900	509,300	545,900	541,400	517,200	510,500	504,600	495,800	490,700	459,900	456,800	450,200	430,100	430,900	429,900	427,700	338,100	455,200	476,100	485,600	502,200	516,100	512,500	505,800	751,300	772,600	-
Non Currrent Assets Other	614,000	511,000	479,000	579,000	575,000	715,000	653,000	611,000	591,000	487,000	405,000	396,000	380,000	345,000	436,000	473,000	272,000	312,300	196,100	209,600	169,700	145,300	151,800	157,600	60,800	85,100	89,900	79,900	85,900	136,000	142,000	132,500	132,100	147,400	133,600	143,300	135,400	122,200	128,100	66,700	74,100	58,000	54,800	60,100	57,700	63,600	55,900	90,100	44,800	61,400	58,000	52,700	25,000	63,000	53,000	52,100	50,700	49,500	47,700	43,600	44,500	82,400	82,100	84,300	274,100	223,300	231,100	230,800	192,000	194,100	170,700	158,500	127,100	112,400	108,800	108,000	105,800	100,400	99,200	125,500	121,800	96,200	96,600	95,900	97,200	94,600	93,300	75,700	81,000	72,900	69,700	64,400	63,600	71,600	562,600	563,700	553,200	577,400	557,700	547,900	535,100	480,900	475,300	-
Noncontrolling Interest In Consolidated Entity	0	0	168,000	167,000	170,000	175,000	185,000	188,000	189,000	189,000	194,000	195,000	194,000	191,000	191,000	217,000	219,000	224,700	221,900	201,800	196,600	206,000	217,200	220,300	212,800	212,300	212,300	202,900	197,700	206,600	230,500	230,100	232,000	229,700	227,800	227,500	230,700	229,600	228,500	8,000	10,900	10,400	9,200	7,800	11,400	10,500	9,200	8,500	10,600	9,800	9,500	8,700	11,200	10,100	8,200	7,600	10,100	-647,500	7,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,394,000	1,366,000	577,000	1,358,000	1,555,000	1,508,000	733,000	10,231,000	9,708,000	7,461,000	530,000	1,242	460,000	399,000	6,875,000	491,000	448,300	349,000	280,000	340,500	288,800	240,400	5,873,600	5,688,500	5,693,900	1,647,500	1,621,300	1,748,300	1,672,800	1,691,800	1,719,100	1,573,900	1,604,700	1,630,900	1,637,400	1,680,300	1,628,300	1,544,000	1,125,300	1,147,600	1,088,000	1,064,200	1,094,800	1,128,100	1,140,900	1,127,100	1,143,000	1,124,900	837,600	876,300	860,200	878,000	739,300	699,400	702,600	697,400	699,100	705,600	697,600	716,600	534,400	515,900	504,100	510,900	462,600	472,500	472,600	433,800	412,200	391,300	381,300	350,000	309,900	307,900	308,900	308,200	300,300	300,300	328,500	325,600	301,800	303,800	304,500	307,900	306,900	306,300	90,400	91,300	84,600	82,100	77,500	77,300	85,800	84,200	0	0	0	0	0	0	0	-	-
Other Current Assets	294,000	445,000	513,000	517,000	4,094,000	463,000	515,000	157,000	177,000	134,000	154,000	141,000	167,000	135,000	165,000	172,000	180,000	2,788,300	2,896,500	78,400	80,200	82,900	88,700	82,400	47,600	35,700	51,200	20,400	28,100	24,500	33,500	23,200	29,400	37,000	48,700	37,200	47,200	42,900	28,400	2,870,400	26,300	12,800	10,800	15,500	12,800	664,600	679,900	698,600	5,400	492,500	593,600	613,400	5,800	496,900	466,400	504,100	33,200	467,000	502,900	72,400	107,800	94,200	70,500	68,600	104,500	51,800	59,000	80,000	43,000	26,000	24,900	35,000	49,500	42,800	60,500	63,700	58,100	53,000	26,600	30,400	29,600	50,400	50,300	50,100	54,300	60,200	55,500	60,500	59,600	59,100	56,000	57,100	57,500	57,900	108,600	219,900	217,400	192,800	188,000	212,300	228,200	168,100	176,500	-
Other Current Liab	948,000	897,000	840,000	735,000	959,000	773,000	835,000	698,000	995,000	958,000	738,000	764,000	958,000	642,000	715,000	597,000	707,000	651,000	642,400	494,700	644,700	542,200	547,900	473,200	717,300	524,700	440,300	337,400	1,387,500	395,100	392,800	350,200	536,500	388,100	398,800	358,100	538,700	391,000	388,800	294,300	504,800	303,300	274,900	319,400	519,500	347,000	279,900	286,000	525,900	311,200	293,500	273,900	400,100	321,000	248,600	253,200	310,100	241,900	262,000	198,800	231,800	392,100	434,700	463,000	363,200	368,400	398,300	410,100	330,900	222,800	192,200	205,200	279,800	244,500	291,500	297,300	458,800	236,600	181,900	158,700	217,500	175,600	149,800	203,300	342,300	159,000	173,300	154,900	122,400	135,600	145,500	150,400	117,700	112,700	681,400	1,326,700	1,287,500	1,240,300	1,234,500	1,310,400	1,315,800	941,500	995,600	-
Other Liab	0	1,130,000	0	1,169,000	1,289,000	1,578,000	1,502,000	0	1,295,000	953,000	1,381,000	1,369,000	1,574,000	1,455,000	1,378,000	1,384,000	1,450,000	1,405,200	1,408,800	1,433,100	1,539,800	1,511,400	1,498,900	1,172,900	1,193,100	919,100	771,900	769,400	759,100	749,000	736,200	767,300	753,100	754,100	781,900	798,900	783,400	682,800	680,000	656,400	665,000	730,800	702,300	691,500	661,600	623,700	620,000	624,100	617,900	628,600	646,200	650,500	639,700	601,700	591,800	592,800	585,800	548,500	552,500	616,100	605,700	589,300	575,600	571,600	549,000	475,300	428,500	467,000	330,300	291,200	283,400	270,100	268,900	251,700	239,000	228,900	221,300	215,600	209,300	245,900	208,100	217,200	210,500	204,600	162,500	190,700	159,900	156,800	121,800	130,100	130,900	129,900	101,200	142,600	128,300	0	0	0	0	0	0	0	-	-
Other Stockholder Equity	-10,777,000	-10,620,000	-10,502,000	-10,502,000	-10,459,000	-10,501,000	-10,438,000	-10,270,000	-9,628,000	-9,562,000	-9,486,000	-9,165,000	-9,013,000	-8,806,000	-8,862,000	-8,908,000	-8,608,000	-8,385,100	-8,312,200	-8,318,300	-7,711,600	-7,690,400	-7,660,300	-7,664,800	-7,624,300	-7,628,100	-7,643,100	-7,604,200	-7,552,400	-7,523,400	-7,364,400	-7,178,600	-6,937,900	-6,784,700	-6,522,200	-6,331,100	-6,000,300	-5,555,300	-5,291,400	-5,078,700	-4,913,900	-4,832,300	-4,549,300	-4,309,700	-4,305,100	-4,240,100	-4,269,800	-4,192,000	-4,241,000	-4,264,300	-4,079,800	-4,118,000	-4,015,800	-3,936,600	-3,959,100	-3,901,900	-3,897,400	-3,916,900	-3,929,600	-3,959,200	-3,968,900	-3,867,300	-3,745,200	-3,716,400	-3,463,700	-3,193,400	-2,729,400	-2,289,000	-1,919,000	-1,829,300	-1,707,800	-1,186,900	-1,112,300	-810,200	-539,000	-561,700	-633,200	-689,200	-690,100	-562,200	-600,800	-577,200	-545,900	-582,700	-552,200	-341,300	-242,300	-276,200	-263,800	-203,800	-121,000	-140,000	-59,100	-100	-64,900	-71,100	-92,900	-96,700	-317,000	-187,000	-130,100	-65,000	45,200	-
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	396,600	322,100	108,300	0	0	0	0	0	0	-297,600	-491,900	-534,000	-596,100	-647,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Property Plant And Equipment Gross	0	2,105,000	2,066,000	857,000	1,971,000	1,937,000	0	0	0	0	639,000	644,000	671,000	692,000	727,000	722,000	748,000	756,700	777,200	826,800	320,400	311,100	312,200	321,600	325,100	332,100	329,700	329,100	325,900	329,600	323,000	310,500	306,400	306,100	304,600	299,300	302,300	303,500	298,300	282,300	278,700	284,300	287,400	296,100	307,100	315,600	317,400	324,800	326,800	323,700	325,200	324,600	319,300	307,500	298,300	292,700	293,000	278,600	267,600	248,400	247,700	242,100	235,700	230,200	214,600	218,400	162,800	118,200	62,000	62,800	60,000	58,300	55,400	47,200	45,700	44,800	45,200	44,200	46,300	48,000	46,800	47,100	48,400	49,300	50,600	45,700	45,700	43,000	42,900	42,700	42,000	42,300	43,400	42,900	221,400	0	0	0	0	0	0	0	-	-
Property Plant And Equipment Net	880,000	871,000	871,000	857,000	848,000	859,000	846,000	808,000	785,000	752,000	639,000	644,000	671,000	692,000	727,000	722,000	748,000	756,700	777,200	826,800	320,400	311,100	312,200	321,600	325,100	332,100	329,700	329,100	325,900	329,600	323,000	310,500	306,400	306,100	304,600	299,300	302,300	303,500	298,300	282,300	278,700	284,300	287,400	296,100	307,100	315,600	317,400	324,800	326,800	323,700	325,200	324,600	319,300	307,500	298,300	292,700	293,000	278,600	267,600	248,400	247,700	242,100	235,700	230,200	214,600	218,400	162,800	118,200	62,000	62,800	60,000	58,300	55,400	47,200	45,700	44,800	45,200	44,200	46,300	48,000	46,800	47,100	48,400	49,300	50,600	45,700	45,700	43,000	42,900	42,700	42,000	42,300	43,400	42,900	221,400	275,700	280,000	277,700	285,400	293,000	298,300	298,700	303,200	-
Property Plant Equipment	0	871,000	541,000	525,000	848,000	859,000	433,000	381,000	438,000	451,000	357,000	269,000	278,000	282,000	298,000	285,000	292,000	292,100	300,400	318,700	320,400	311,100	312,200	321,600	325,100	332,100	329,700	329,100	325,900	329,600	323,000	310,500	306,400	306,100	304,600	299,300	302,300	303,500	298,300	282,300	278,700	284,300	287,400	296,100	307,100	315,600	317,400	324,800	326,800	323,700	325,200	324,600	319,300	307,500	298,300	292,700	293,000	278,600	267,600	248,400	247,700	242,100	235,700	230,200	214,600	218,400	162,800	118,200	62,000	62,800	60,000	58,300	55,400	47,200	45,700	44,800	45,200	44,200	46,300	48,000	46,800	47,100	48,400	49,300	50,600	45,700	45,700	43,000	42,900	42,700	42,000	42,300	43,400	42,900	43,000	0	0	0	0	0	0	0	-	-
Retained Earnings	14,659,000	14,460,000	14,213,000	13,979,000	13,618,000	13,501,000	13,328,000	13,132,000	12,762,000	12,451,000	12,094,000	11,632,000	11,011,000	10,804,000	10,442,000	10,041,000	9,656,000	9,391,600	9,107,700	8,893,600	8,594,400	8,429,100	8,204,600	7,913,000	7,465,400	7,513,400	7,269,600	7,031,000	6,688,900	7,261,200	7,077,800	6,895,100	6,709,000	6,631,700	6,468,400	6,276,400	6,044,300	5,936,200	5,780,700	5,521,900	5,302,100	5,210,600	5,082,100	4,902,200	4,713,300	4,634,100	4,486,300	4,350,000	4,176,100	4,147,400	4,048,800	3,892,100	3,736,200	3,650,100	3,538,900	3,442,600	3,329,000	3,275,800	3,199,000	3,113,500	3,023,200	2,981,700	2,892,900	2,782,200	2,661,100	2,579,500	2,463,700	2,223,400	2,091,400	1,854,800	1,717,500	1,565,400	1,419,200	1,305,600	1,175,500	1,046,800	939,300	827,900	743,500	651,200	558,900	480,100	401,300	307,000	221,800	158,700	98,000	26,300	-39,300	-91,100	-133,900	-182,300	-223,200	-258,700	-100	-39,000	-105,900	-108,700	-144,900	-180,900	-240,900	-261,900	-298,900	-
Retained Earnings Total Equity	0	0	14,213,000	13,979,000	13,618,000	13,501,000	13,328,000	13,132,000	12,762,000	12,451,000	12,094,000	11,632,000	11,011,000	10,804,000	10,442,000	10,041,000	9,656,000	9,391,600	9,107,700	8,893,600	8,594,400	8,429,100	8,204,600	7,913,000	7,465,400	7,513,400	7,269,600	7,031,000	6,688,900	7,261,200	7,077,800	6,895,100	6,709,000	6,631,700	6,468,400	6,276,400	6,044,300	5,936,200	5,780,700	5,521,900	5,302,100	5,210,600	5,082,100	4,902,200	4,713,300	4,634,100	4,486,300	4,350,000	4,176,100	4,147,400	4,048,800	3,892,100	3,736,200	3,650,100	3,538,900	3,442,600	3,329,000	-647,500	3,199,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Short Long Term Debt	0	0	300,000	499,000	0	0	499,000	501,000	0	507,000	0	0	0	0	0	485,000	0	501,500	129,900	318,800	449,900	445,600	299,900	299,700	299,500	299,300	4,887,100	213,800	300,000	299,900	299,900	299,900	3,380,600	0	0	0	2,547,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	7,415,000	7,272,000	7,672,000	7,917,000	474,000	7,969,000	8,183,000	8,332,000	560,000	573,000	478,000	500,000	521,000	530,000	541,000	552,000	574,000	584,500	599,300	610,900	5,676,000	4,954,500	5,324,000	5,507,600	5,540,500	5,721,400	4,887,100	4,075,700	3,363,000	3,418,100	3,420,400	3,428,600	3,401,000	3,124,500	3,106,100	3,095,100	2,547,300	2,536,500	2,104,500	2,097,500	2,101,800	2,098,600	1,605,000	1,642,100	1,671,200	1,707,500	1,238,300	1,236,800	1,243,800	1,244,000	1,243,000	1,234,200	1,239,600	1,260,000	1,106,400	744,400	1,193,700	1,281,000	1,330,400	1,410,500	1,467,700	1,398,600	1,277,000	1,198,700	1,151,900	1,000,000	710,000	380,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,300	300,000	300,000	300,000	300,000	300,000	393,100	435,600	300,000	300,000	300,000	300,000	300,000	300,000	300,000	300,000	195,500	291,900	38,900	127,300	102,600	129,200	64,300	36,900	1,500	-	-
Short Term Debt	108,000	105,000	405,000	605,000	106,000	104,000	604,000	607,000	105,000	610,000	92,000	94,000	94,000	91,000	90,000	574,000	89,000	591,000	219,000	406,200	449,900	470,500	389,800	389,600	429,400	614,100	4,887,100	213,800	300,000	299,900	299,900	299,900	3,380,600	0	0	0	2,547,300	0	0	0	0	0	0	31,900	63,800	95,600	127,500	99,400	71,300	43,100	15,000	13,100	11,300	24,400	363,900	377,500	447,500	532,900	580,400	660,500	717,700	648,600	527,000	598,700	551,900	400,000	410,000	80,000	0	-222,800	-192,200	-205,200	-279,800	-244,500	300,000	300,000	300,000	-236,600	-181,900	-158,700	-217,500	-175,600	-149,800	93,100	107,100	0	0	0	0	0	0	0	0	0	291,900	38,900	127,300	102,600	129,200	64,300	36,900	1,500	-	-
Short Term Investments	63,000	73,000	57,000	78,000	90,000	89,000	86,000	103,000	91,000	104,000	88,000	96,000	99,000	96,000	100,000	90,000	98,000	95,800	119,500	114,000	132,500	110,700	101,200	100,500	111,800	108,300	86,300	132,800	173,400	311,800	352,500	490,600	474,800	470,200	508,900	485,500	458,100	164,800	182,000	177,300	211,800	209,600	17,900	11,600	17,900	22,700	15,400	13,300	14,800	13,300	11,000	6,700	12,700	10,800	7,700	7,500	10,000	6,800	4,900	6,800	7,100	7,200	12,700	9,900	14,700	4,600	13,400	10,300	75,400	13,000	7,100	109,100	94,500	81,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
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	396,600	322,100	108,300	0	0	0	0	0	0	-297,600	-491,900	-534,000	-596,100	-647,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Assets	14,622,000	14,191,000	14,691,000	14,719,000	14,349,000	13,939,000	14,315,000	14,739,000	14,680,000	14,414,000	12,552,000	12,500,000	12,409,000	11,672,000	11,298,000	11,306,000	10,265,000	9,477,800	9,591,600	9,518,100	9,526,200	8,439,100	8,751,600	9,014,000	8,605,200	8,304,900	6,536,300	5,435,900	5,327,300	5,019,300	5,044,900	5,114,900	5,123,400	4,772,900	4,999,500	4,976,000	4,680,100	4,993,700	4,784,600	4,353,400	4,394,600	4,154,500	3,794,300	3,911,200	3,960,900	3,662,300	2,963,900	2,994,400	2,876,100	2,521,300	2,744,600	2,524,400	2,540,300	2,348,200	1,957,700	2,003,300	2,003,300	1,874,200	1,873,900	1,802,100	1,773,400	1,694,300	1,664,400	1,586,800	1,714,600	1,551,600	1,553,300	1,469,900	1,497,700	1,155,200	1,131,100	1,502,400	1,457,200	1,555,100	1,724,300	1,559,000	1,376,000	1,134,000	1,001,300	1,056,500	941,400	787,000	720,900	684,900	630,800	634,400	663,600	530,100	505,400	473,500	462,000	399,600	398,300	297,000	1,428,400	1,811,400	1,785,700	1,713,200	1,720,000	1,821,300	1,789,200	1,669,300	1,816,300	-
Total Current Assets	4,225,000	4,037,000	4,390,000	4,426,000	4,094,000	3,726,000	3,820,000	4,062,000	4,011,000	4,255,000	4,734,000	4,695,000	4,509,000	4,281,000	3,963,000	3,994,000	3,679,000	3,042,300	3,154,600	2,898,400	3,386,900	2,516,200	2,839,700	2,818,800	2,591,600	2,278,900	4,559,100	3,485,500	3,253,100	3,016,900	3,030,100	3,085,300	3,243,100	2,862,100	3,064,000	3,039,300	2,686,400	3,061,900	2,944,300	2,945,800	2,968,800	2,782,200	2,442,700	2,520,300	2,525,700	2,205,800	1,519,400	1,526,600	1,424,400	1,360,000	1,543,100	1,339,600	1,343,000	1,301,400	960,000	1,008,000	1,012,900	896,500	900,600	856,100	809,100	917,800	912,800	852,500	989,100	870,600	918,000	879,100	1,001,900	680,200	679,800	1,062,800	1,051,800	1,198,000	1,370,700	1,205,300	1,022,600	789,500	654,700	680,000	569,000	438,100	368,700	331,100	272,300	281,800	311,600	396,700	371,200	346,200	337,900	279,800	277,600	168,300	495,600	797,900	785,000	689,600	705,800	801,400	764,000	699,800	849,800	-
Total Current Liabilities	2,500,000	2,269,000	2,667,000	2,988,000	2,375,000	2,066,000	2,755,000	2,988,000	2,496,000	2,793,000	2,050,000	2,154,000	2,222,000	1,721,000	1,886,000	2,351,000	1,912,000	2,138,000	1,839,900	2,005,600	2,098,500	1,823,600	1,843,900	1,920,900	2,074,300	1,982,700	1,237,200	1,423,800	2,428,200	1,402,500	1,146,400	1,151,900	1,218,500	1,050,200	1,124,800	1,138,200	1,199,700	1,041,700	1,093,400	1,027,300	1,141,300	897,200	897,100	1,013,400	1,164,900	982,900	995,200	1,011,500	1,134,000	834,900	852,000	841,000	933,800	792,600	1,094,200	1,146,900	1,236,000	1,202,300	1,305,100	1,338,800	1,393,100	1,248,800	1,160,600	1,318,200	1,349,200	1,085,800	1,090,700	773,000	700,000	525,300	527,100	550,100	578,900	505,800	843,200	835,300	837,200	470,600	429,900	411,000	432,100	360,000	349,900	452,200	462,000	324,200	346,400	324,600	359,300	339,000	287,600	293,600	253,100	220,000	973,300	1,365,600	1,414,800	1,342,900	1,363,700	1,374,700	1,352,700	943,000	995,600	-
Total Liab	11,146,000	10,839,000	11,379,000	11,661,000	14,349,000	11,509,000	11,836,000	12,157,000	11,764,000	11,795,000	10,172,000	10,275,000	10,646,000	9,984,000	10,066,000	10,507,000	9,434,000	8,780,500	9,016,900	9,193,100	8,869,700	7,833,000	8,291,500	8,594,000	8,720,100	8,461,700	7,003,800	6,160,100	6,354,600	5,377,200	5,414,400	5,466,400	5,456,400	5,013,100	5,102,900	5,122,200	4,680,100	4,993,700	4,110,700	4,353,400	4,394,600	4,154,500	3,794,300	3,371,000	3,960,900	3,340,200	2,785,100	2,833,800	2,974,000	2,695,500	2,761,200	2,747,600	2,838,700	2,645,800	2,449,600	2,537,300	2,599,400	2,521,700	2,623,400	2,721,400	2,767,800	2,588,100	2,486,200	2,489,800	2,498,200	2,161,100	1,819,200	1,540,000	1,330,300	1,116,500	1,110,500	1,120,200	1,147,800	1,057,500	1,082,200	1,064,200	1,058,500	986,500	939,200	956,900	973,500	877,200	860,400	956,800	957,800	814,900	806,300	781,400	809,500	769,100	718,500	723,500	680,800	558,100	1,428,500	1,841,700	1,900,400	1,845,100	1,879,800	1,887,200	1,858,500	1,694,300	1,768,200	-
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	396,600	322,100	108,300	0	0	0	0	0	0	-297,600	-491,900	-534,000	-596,100	-647,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Total Stockholder Equity	3,318,000	3,191,000	3,144,000	2,891,000	2,519,000	2,255,000	2,294,000	2,394,000	2,916,000	2,619,000	2,380,000	2,225,000	1,763,000	1,688,000	1,232,000	799,000	831,000	697,300	574,700	325,000	656,500	606,100	460,100	420,000	-114,900	-156,800	-467,500	-724,200	-1,027,300	-357,900	-369,500	-351,500	-333,000	-240,200	-103,400	-146,200	42,900	480,300	567,400	393,300	347,900	291,900	386,300	457,100	329,500	322,100	108,300	91,200	-169,000	-174,200	-16,600	-223,200	-309,600	-297,600	-491,900	-534,000	-606,200	-647,500	-749,500	-924,900	-994,400	-893,800	-821,800	-903,000	-783,600	-609,500	-265,900	-70,100	167,400	38,700	20,600	382,200	309,400	497,600	642,100	494,800	317,500	147,500	62,100	99,600	-32,100	-90,200	-139,500	-271,900	-327,000	-180,500	-142,700	-251,300	-304,100	-295,600	-256,500	-323,900	-282,500	-261,100	-302,600	-332,400	-416,600	-433,600	-461,900	-367,900	-371,000	-326,900	-253,700	-
Treasury Stock	0	0	0	-11,570,000	-11,513,000	-11,514,000	-11,403,000	-11,096,000	-10,513,000	-10,394,000	-10,270,000	-9,904,000	-9,748,000	-9,505,000	-9,513,000	-9,524,000	-9,250,000	-8,993,000	-8,886,700	-8,754,000	-8,312,500	-8,260,100	-8,198,900	-8,171,400	-8,152,900	-8,123,700	-8,108,600	-8,051,200	-8,029,600	-7,973,800	-7,821,700	-7,610,300	-7,389,200	-7,209,500	-6,918,900	-6,701,700	-6,384,200	-5,957,600	-5,676,400	-5,449,900	-5,319,700	-5,209,400	-4,846,700	-4,652,500	-4,614,500	-4,615,600	-4,637,600	-4,549,000	-4,635,500	-4,651,000	-4,448,900	-4,485,200	-4,407,300	-4,320,700	-4,331,800	-4,266,200	-4,288,500	-4,304,500	-4,310,300	-4,336,100	-4,361,600	-4,246,900	-4,117,900	-4,081,200	-3,851,600	-3,572,300	-3,110,000	-2,643,700	-2,264,700	-2,152,100	-2,011,100	-1,464,600	-1,353,200	-1,029,800	-737,400	-739,500	-777,200	-811,100	-800,200	-660,500	-677,200	-644,700	-604,800	-632,100	-597,700	-382,300	-326,700	-325,600	-307,500	-228,700	-155,700	-155,700	-67,000	-100	0	0	0	0	0	0	0	0	-	-
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	5,000	5,000	6,000	6,000	5,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	137,600	122,600	106,500	80,000	81,500	78,700	75,300	72,300	69,200	70,500	69,400	60,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31
Begin Period Cash Flow	1,769,000	1,811,000	2,597,000	1,832,000	1,685,000	1,071,500	2,051,500	1,757,400	1,219,500	1,919,500	1,755,400	760,000	659,600	473,900	245,900	426,300	408,100	486,000	606,100	269,100	39,900	163,200	119,100	3,400	90,600	81,800
Capital Expenditures	271,000	283,000	139,000	103,000	69,000	90,400	90,600	115,200	89,000	74,600	42,300	45,000	67,700	79,000	90,700	84,400	181,800	31,100	31,300	21,300	17,900	18,100	14,800	12,300	44,100	55,400
Cash And Cash Equivalents Changes	0	4,000	-736,000	718,000	148,000	613,500	-980,000	294,100	537,900	-700,000	164,100	995,400	100,400	185,700	228,000	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-353,000	-157,000	-160,000	-35,000	172,500	-106,300	5,400	-48,400	-49,100	-40,200	-21,000	62,000	-57,800	69,000	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	361,000	-42,000	-786,000	765,000	147,000	613,500	-980,000	294,100	537,900	-700,000	164,100	995,400	100,400	185,700	228,000	-180,400	18,200	-77,900	-120,100	337,000	229,200	-123,300	44,100	115,700	22,600	8,800
Change In Working Capital	-38,000	-427,000	-400,000	38,000	-104,000	-81,600	-458,900	949,900	36,100	-25,400	35,600	-54,400	92,900	34,600	103,700	-28,600	323,300	171,800	4,900	-15,200	27,600	-5,000	73,900	-105,500	-94,800	-59,100
Change Receivables	0	34,000	-257,000	31,000	-134,000	-136,100	-148,100	-104,800	-25,400	-98,300	-67,000	-128,200	17,100	-54,400	-14,900	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-12,000	34,000	-257,000	31,000	-134,000	-136,100	-148,100	-104,800	-25,400	-98,300	-67,000	-128,200	17,100	-54,400	-14,900	26,200	36,700	-42,400	-53,100	-87,300	-91,800	-16,600	0	0	0	0
Change To Inventory	0	0	-80,000	-247,000	-77,000	0	267,700	71,100	-21,500	-24,700	39,400	-49,700	0	-59,100	241,700	0	-25,200	8,900	69,100	14,200	61,200	83,400	0	0	0	0
Change To Liabilities	0	-158,000	145,000	135,000	103,000	-118,000	-315,600	1,008,900	114,400	85,000	94,100	131,200	3,500	116,000	70,600	0	53,900	141,400	0	36,500	30,600	0	101,600	0	0	0
Change To Netincome	0	246,000	-66,000	143,000	112,000	31,400	151,500	-85,900	49,900	-20,600	32,000	47,900	63,500	69,800	47,900	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-287,000	-104,000	-199,000	-131,000	-10,000	199,000	75,200	-10,600	-55,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	373,000	331,000	257,000	220,000	200,000	191,900	158,300	126,700	113,500	95,600	93,400	93,500	79,200	66,300	64,100	75,100	42,900	39,500	35,200	34,100	32,600	24,600	17,000	16,600	140,900	141,600
Dividends Paid	564,000	515,000	463,000	420,000	378,000	337,200	290,400	285,100	272,100	236,000	197,300	143,000	126,100	103,400	98,200	96,800	85,200	79,500	60,300	44,700	26,800	27,800	28,300	7,200	120,100	137,400
End Period Cash Flow	2,130,000	1,769,000	1,811,000	2,597,000	1,832,000	1,685,000	1,071,500	2,051,500	1,757,400	1,219,500	1,919,500	1,755,400	760,000	659,600	473,900	245,900	426,300	408,100	486,000	606,100	269,100	39,900	163,200	119,100	113,200	90,600
Exchange Rate Changes	0	0	0	0	0	-29,700	85,300	-24,200	-62,700	-89,200	-2,000	19,900	-17,600	2,500	26,800	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	1,880,000	1,191,000	1,866,000	2,043,000	1,606,000	1,370,700	656,900	1,110,900	1,065,000	944,000	884,500	778,100	735,600	574,300	553,100	450,300	802,200	721,400	676,600	498,400	450,500	316,700	291,500	55,300	300,600	286,800
Investments	0	-262,000	-290,000	-77,000	41,000	-32,400	181,600	296,500	4,600	-250,600	-168,900	-1,700	-2,400	-1,200	-2,200	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
Net Borrowings	0	362,000	1,172,000	688,000	-129,000	148,000	2,102,200	-100	843,300	441,200	429,300	418,500	-11,300	44,000	-275,400	0	0	0	0	0	0	0	0	0	0	0
Net Income	1,607,000	1,374,000	2,214,000	1,777,000	1,429,000	1,319,400	1,007,700	275,800	949,600	1,006,000	815,900	699,700	578,000	513,400	407,100	457,600	701,500	753,900	560,800	425,100	363,900	288,900	212,200	158,500	256,000	280,100
Other Cashflows From Financing Activities	-9,000	916,000	-36,000	-63,000	-33,000	-15,000	-31,300	14,100	909,200	-153,700	22,200	600	42,200	7,000	13,512,300	636,000	1,896,200	103,200	-2,300	-1,300	-17,100	107,100	-30,000	300,000	188,300	174,700
Other Cashflows From Investing Activities	0	-97,000	-11,000	-897,000	64,000	-283,600	-3,511,000	-79,300	-7,600	-239,700	-50,700	-3,500	-197,500	-148,600	-900	0	0	0	0	0	800	0	0	0	0	0
Other Non Cash Items	54,000	-21,000	-23,000	1,000	52,000	9,800	-170,800	-69,700	-44,100	-161,500	-38,800	-3,500	-13,800	-7,000	-5,000	55,700	-97,500	-262,600	72,400	57,500	33,900	29,900	4,000	300	9,300	28,800
Sale Purchase Of Stock	-561,000	-983,000	-750,000	-503,000	-991,000	-202,600	-199,700	-738,800	-1,098,100	-1,220,500	-893,100	-196,500	-333,800	-223,600	19,800	-592,900	-1,738,400	-1,093,600	-691,700	-221,300	-172,800	-369,900	-267,600	-223,900	-237,900	-220,200
Stock Based Compensation	193,000	169,000	175,000	154,000	136,000	130,300	122,900	98,100	87,200	80,400	67,100	64,500	56,700	56,600	57,400	-7,800	90,200	77,100	54,800	27,800	10,800	0	0	0	8,800	0
Total Cash From Financing Activities	-1,584,000	-1,208,000	-122,000	-351,000	-1,563,000	-411,500	1,607,200	-1,009,800	-461,000	-1,064,500	-498,800	202,600	-417,700	-241,300	-348,800	-344,800	-861,500	-965,200	-666,500	-162,300	-227,700	-236,600	-233,000	81,600	-211,700	-227,300
Total Cash From Operating Activities	2,151,000	1,474,000	2,005,000	2,146,000	1,675,000	1,461,100	747,500	1,226,100	1,154,000	1,018,600	926,800	823,100	803,300	653,300	643,800	534,700	984,000	752,500	707,900	519,700	468,400	334,800	306,300	67,600	344,700	342,200
Total Cashflows From Investing Activities	0	-262,000	-2,619,000	-1,077,000	36,000	-406,400	-3,420,000	102,000	-92,000	-564,900	-261,900	-50,200	-267,600	-228,800	-93,800	0	0	116,100	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30
Begin Period Cash Flow	2,006,000	2,278,000	2,119,000	1,769,000	1,656,000	1,617,000	1,750,000	1,811,000	2,239,000	2,809,000	2,769,000	2,597,000	2,492,000	2,099,000	2,141,000	1,832,000	1,178,000	1,195,900	1,196,600	1,685,000	1,034,800	1,314,500	1,277,300	1,071,500	962,800	3,280,900	2,129,600	2,051,500	1,746,100	1,674,300	1,576,100	1,757,400	1,471,100	1,538,600	1,509,900	1,219,500	1,940,800	1,777,300	1,792,200	1,919,500	1,835,100	1,633,000	1,758,000	1,755,400	1,518,500	824,100	814,700	760,000	854,200	938,500	719,500	659,600	793,700	485,900	496,400	473,900	422,700	392,800	341,700	245,900	438,600	380,100	339,700	426,300	421,100	361,600	289,500	408,100	281,600	223,200	495,900	486,000	736,700	930,800	777,000	606,100	451,000	332,300	368,100	269,100	179,900	81,200	57,800	39,900	69,900	78,500	177,800	163,200	174,700	164,400	99,000	119,100	22,600	54,800	70,000	113,200	70,800	76,400	70,900	90,600	0	0
Capital Expenditures	73,000	71,000	54,000	73,000	79,000	71,000	74,000	59,000	62,000	33,000	30,000	14,000	20,000	21,000	41,000	21,000	8,100	22,200	18,700	20,000	27,500	25,000	22,900	15,000	21,200	26,600	24,100	18,700	30,400	30,500	28,000	26,300	23,100	25,200	21,700	19,000	17,800	18,000	19,700	19,100	11,300	12,900	9,500	8,600	9,800	13,300	6,600	15,300	14,100	18,000	16,000	19,600	24,400	19,300	19,100	16,200	26,400	29,500	22,400	12,400	19,000	21,400	24,900	19,100	36,000	52,500	60,200	33,100	9,900	8,300	6,200	6,700	12,700	6,900	6,200	5,500	6,800	3,100	4,800	6,600	5,200	3,900	4,600	4,200	4,800	6,700	3,700	2,900	4,000	10,800	6,600	3,000	2,100	5,000	4,000	11,200	15,300	7,300	11,200	10,300	40,800	72,700
Cash And Cash Equivalents Changes	0	0	156,000	329,000	36,000	91,000	-80,000	-43,000	-416,000	-547,000	35,000	192,000	0	361,000	-61,000	338,000	619,000	18,100	-700	-488,400	650,200	-279,700	37,200	205,800	108,700	-2,318,100	1,151,300	78,100	305,400	71,800	98,200	-181,300	286,300	-352,500	313,700	290,400	-721,300	163,500	-14,900	-127,300	84,400	202,100	-125,000	2,600	236,900	694,400	9,400	54,700	-94,200	-84,300	219,000	59,900	-134,100	307,800	-10,500	22,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-199,000	230,000	-162,000	-55,000	-376,000	240,000	-60,000	-65,000	-137,000	105,000	0	-165,000	-167,000	10,000	74,800	-28,400	-144,000	62,600	135,800	94,800	-73,500	15,400	-8,800	25,800	8,200	-131,500	-54,300	26,800	17,800	15,100	-40,300	2,900	0	-11,000	25,400	-21,700	-46,000	-6,800	-27,200	44,400	-67,400	10,000	-19,600	34,200	-81,500	45,900	-36,400	26,700	-8,200	79,900	-10,500	-30,100	-11,300	-5,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	124,000	-272,000	-2,026,000	329,000	113,000	39,000	-133,000	-61,000	-428,000	-570,000	40,000	172,000	105,000	393,000	-42,000	309,000	654,000	-17,900	-700	-488,400	650,200	-279,700	37,200	205,800	108,700	-2,318,100	1,151,300	78,100	305,400	71,800	98,200	-181,300	286,300	-67,500	28,700	290,400	-721,300	163,500	-14,900	-127,300	84,400	202,100	-125,000	2,600	236,900	694,400	9,400	54,700	-94,200	-84,300	219,000	59,900	-134,100	307,800	-10,500	22,500	51,200	29,900	51,100	95,800	-192,700	58,500	40,400	-86,600	5,200	59,500	72,100	-118,600	126,500	58,400	-272,700	9,900	-250,700	-194,100	153,800	170,900	155,100	118,700	-35,800	99,000	89,200	98,700	23,400	17,900	-30,000	-8,600	-99,300	14,600	-11,500	10,300	65,400	-20,100	96,500	-32,200	-15,200	-43,200	42,400	-5,600	5,500	-19,700	-65,800	-91,500
Change In Working Capital	-23,000	-50,000	-56,000	608,000	54,000	-89,000	-210,000	-182,000	-91,000	-2,000	-99,000	-208,000	273,000	18,000	41,000	-294,000	47,700	-14,800	-30,600	-106,300	68,800	-18,100	-67,000	-65,300	365,500	97,900	122,200	-1,044,500	934,300	37,600	-22,400	400	-8,100	15,600	19,600	9,000	37,900	9,000	4,700	-77,000	62,400	87,400	-87,900	-26,300	108,500	66,600	-86,100	-143,400	-4,200	56,500	27,700	12,900	18,700	4,600	-10,500	21,800	39,600	700	-8,800	72,200	14,900	10,900	-96,600	42,200	130,500	125,600	59,100	8,100	75,700	70,800	-6,800	32,100	-18,300	21,600	11,000	-9,400	-9,800	28,800	-2,600	-31,600	29,200	46,900	-19,000	-29,500	11,600	27,700	-5,100	-39,200	1,500	50,500	2,200	19,700	17,700	16,000	-137,600	-1,600	-98,600	1,800	38,700	-36,700	-108,200	18,900
Change Receivables	0	0	172,000	-51,000	-89,000	60,000	180,000	-117,000	-120,000	-108,000	42,000	-71,000	0	62,000	18,000	-7,000	-169,900	5,500	38,900	-8,500	-158,600	4,700	47,700	-29,900	-138,300	6,700	45,400	-61,900	-69,200	9,600	300	-45,500	-86,400	123,700	0	-62,700	-86,400	33,900	-3,000	-42,800	-93,800	24,400	27,400	-25,000	-71,200	-16,500	55,500	-96,000	114,600	-108,700	13,200	-2,000	-85,500	-14,700	32,300	13,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-139,000	6,000	172,000	-51,000	-89,000	60,000	180,000	-117,000	-120,000	-108,000	42,000	-71,000	-42,000	62,000	18,000	-7,000	-169,900	5,500	38,900	-8,500	-158,600	4,700	47,700	-29,900	-138,300	6,700	45,400	-61,900	-69,200	9,600	300	-45,500	-86,400	72,800	50,900	-62,700	-86,400	33,900	-3,000	-42,800	-93,800	24,400	27,400	-25,000	-71,200	-16,500	55,500	-96,000	-80,400	86,300	13,200	-2,000	-85,500	-14,700	32,300	13,500	-66,200	35,400	-100	16,000	26,200	89,400	32,100	42,100	36,700	87,200	0	-23,900	-42,400	68,100	2,600	-500	-53,100	32,400	0	-4,600	-87,300	0	0	-11,100	-91,800	0	0	-45,000	-16,600	9,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	-25,000	-92,000	0	0	82,000	0	296,000	-191,000	0	0	-77,000	-74,000	0	0	-165,000	-31,800	0	0	-22,200	0	0	0	21,100	1,063,000	0	0	-119,900	51,100	0	0	22,300	5,900	0	0	16,600	52,500	0	0	-16,400	118,600	0	0	41,200	-10,000	0	0	146,200	0	0	0	94,400	-68,300	0	0	60,100	219,300	0	0	75,100	0	0	0	6,600	-151,700	0	0	-4,600	-144,500	0	0	65,500	69,100	0	0	27,700	50,800	0	0	73,000	61,200	0	0	76,000	83,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	-107,000	90,000	-207,000	255,000	-94,000	-14,000	-305,000	240,000	38,000	-73,000	-242,000	417,000	76,000	190,000	-297,000	143,200	16,800	103,400	-160,400	91,600	-117,600	-41,200	-50,800	512,600	3,900	19,900	-852,000	1,017,200	-2,900	-30,900	25,500	119,600	-80,500	0	75,300	86,800	-22,300	-229,400	249,900	179,500	8,300	-71,700	-22,000	187,000	23,700	-69,200	-10,300	108,600	-50,000	22,100	-77,200	105,700	34,500	-29,700	5,500	50,400	7,100	0	0	0	0	0	0	53,900	15,800	0	0	141,400	42,600	0	4,400	0	0	0	0	36,500	5,300	0	0	30,600	0	0	0	0	0	0	0	101,600	68,000	7,000	8,100	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	28,000	71,000	47,000	38,000	39,000	93,000	76,000	-114,000	-97,000	56,000	89,000	14,000	15,000	24,000	103,000	20,300	16,100	26,100	49,500	6,700	-32,700	26,500	30,900	-39,100	-8,700	44,700	154,600	-131,600	5,000	15,000	25,700	18,100	9,800	21,700	300	14,600	-185,400	135,300	14,900	-16,700	-2,900	26,700	24,900	45,100	8,500	70,900	-76,600	26,400	6,300	5,400	25,400	12,800	25,700	10,800	20,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	45,000	45,000	24,000	-102,000	42,000	-186,000	-186,000	-106,000	72,000	-71,000	1,000	-99,000	54,000	-7,000	-147,000	-156,800	73,700	-47,600	-300	-5,100	4,700	-47,600	39,000	198,800	94,200	47,200	-130,600	75,200	30,900	8,200	20,400	-10,600	0	0	0	-55,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	97,000	95,000	93,000	88,000	89,000	83,000	81,000	78,000	77,000	61,000	60,000	59,000	57,000	56,000	58,000	49,000	50,100	48,600	51,000	50,300	48,300	46,100	48,400	49,100	49,900	43,000	32,900	32,500	32,900	32,700	31,200	29,900	28,700	28,300	27,900	28,600	27,000	23,200	22,300	23,100	23,300	23,400	23,100	23,600	23,800	24,100	22,100	23,500	20,700	19,000	21,800	17,700	17,200	18,100	15,200	15,800	16,600	16,200	15,700	15,600	31,200	14,600	16,800	12,500	11,900	11,600	9,100	10,300	11,000	9,800	9,300	9,400	9,100	8,800	8,700	8,600	8,800	8,300	8,700	8,300	8,800	8,100	7,900	7,800	7,200	7,100	6,200	4,100	4,500	4,400	4,000	4,100	3,800	-43,600	22,300	34,100	35,800	33,500	36,200	35,400	36,400	34,300
Dividends Paid	140,000	141,000	142,000	141,000	128,000	128,000	129,000	130,000	116,000	115,000	116,000	116,000	105,000	105,000	105,000	105,000	94,400	94,600	94,600	94,400	84,300	84,300	84,500	84,100	72,600	72,600	72,600	72,600	70,600	70,900	71,500	72,100	67,100	67,800	68,500	68,700	57,800	59,000	59,300	59,900	53,600	54,600	44,600	44,500	35,700	35,700	32,200	39,400	31,400	32,000	32,400	30,300	24,900	24,900	28,100	25,500	24,500	23,600	26,600	23,500	23,500	24,100	24,500	24,700	20,500	20,800	21,600	22,300	19,600	19,600	19,900	20,400	15,900	16,600	16,600	11,200	11,300	11,000	11,200	11,200	6,700	6,800	6,600	6,700	6,700	7,200	6,900	7,000	7,000	7,100	7,100	7,100	147,300	94,700	29,900	29,900	29,800	29,800	29,900	30,600	30,200	31,700
End Period Cash Flow	2,130,000	2,006,000	93,000	2,098,000	1,769,000	1,656,000	1,617,000	1,750,000	1,811,000	2,239,000	2,809,000	2,769,000	2,597,000	2,492,000	2,099,000	2,141,000	1,832,000	1,178,000	1,195,900	1,196,600	1,685,000	1,034,800	1,314,500	1,277,300	1,071,500	962,800	3,280,900	2,129,600	2,051,500	1,746,100	1,674,300	1,576,100	1,757,400	1,471,100	1,538,600	1,509,900	1,219,500	1,940,800	1,777,300	1,792,200	1,919,500	1,835,100	1,633,000	1,758,000	1,755,400	1,518,500	824,100	814,700	760,000	854,200	938,500	719,500	659,600	793,700	485,900	496,400	473,900	422,700	392,800	341,700	245,900	438,600	380,100	339,700	426,300	421,100	361,600	289,500	408,100	281,600	223,200	495,900	486,000	736,700	930,800	777,000	606,100	451,000	332,300	368,100	269,100	179,900	81,200	57,800	39,900	69,900	78,500	177,800	163,200	174,700	164,400	99,000	119,100	22,600	54,800	70,000	113,200	70,800	5,500	70,900	-65,800	-91,500
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,700	500	-2,400	-5,900	-36,500	15,100	6,000	19,700	41,400	18,200	-41,300	-1,100	-10,800	29,000	-14,800	-1,900	0	-46,000	-38,700	-64,900	14,600	-200	5,800	38,500	-5,100	-41,200	5,700	17,200	-16,300	13,300	-3,600	-40,500	9,100	17,400	-2,300	39,700	-18,800	-16,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	404,000	391,000	550,000	535,000	298,000	265,000	217,000	411,000	237,000	403,000	564,000	662,000	638,000	490,000	591,000	324,000	471,400	418,800	368,700	347,100	349,000	282,300	362,900	376,500	383,600	363,800	440,600	-531,100	339,100	297,300	263,500	211,000	237,400	273,900	310,900	242,800	291,000	233,800	261,100	158,100	262,000	271,500	157,000	194,000	317,300	247,200	166,900	46,700	122,900	202,400	229,000	181,300	154,200	151,400	120,800	147,900	160,800	102,600	110,000	179,700	115,300	132,300	36,900	165,800	178,400	240,600	231,000	152,200	173,400	238,300	176,300	133,400	148,900	193,800	182,900	151,000	134,600	145,700	118,300	99,800	131,200	148,400	98,000	72,900	86,800	117,900	77,400	34,600	64,000	104,800	61,700	68,800	57,900	134,900	-225,500	88,000	52,700	76,400	114,500	57,000	61,900	-30,400
Investments	0	-90,000	17,000	10,000	-90,000	76,000	72,000	-19,000	-255,000	-11,000	-4,000	-42,000	-224,000	-8,000	-8,000	-55,000	8,600	9,800	9,800	12,800	-10,800	-8,500	-3,900	-9,200	119,700	-25,800	45,400	42,300	135,000	38,600	129,100	-6,200	15,600	19,300	0	-30,300	-273,300	16,800	-3,600	9,500	22,900	-190,900	-6,700	5,800	5,700	-6,900	-2,200	1,700	-800	-3,900	-4,000	6,300	-800	-2,400	-600	2,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	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	-300,000	-200,000	-300,000	-126,000	-3,000	-3,000	491,000	-6,000	1,178,000	1,178,000	1,178,000	1,178,000	-4,000	-486,000	1,178,000	323,800	-130,200	-190,400	-132,200	703,200	-364,800	-150,200	-40,200	-184,300	813,400	766,200	706,900	2,121,800	-100	711,800	0	296,400	-1,700	0	548,600	447,700	441,200	0	0	369,600	-4,100	31,900	31,900	-31,900	460,400	-6,200	-3,800	-3,800	-3,700	-1,900	-1,900	-17,300	149,200	-15,900	-72,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	340,000	390,000	377,000	501,000	246,000	303,000	327,000	498,000	427,000	474,000	577,000	736,000	314,000	467,000	509,000	487,000	361,000	382,400	312,000	373,600	252,700	312,000	377,900	376,800	28,500	319,700	313,600	345,900	-425,500	256,600	258,100	186,600	220,400	233,800	264,100	231,300	241,400	218,500	324,400	221,700	209,600	186,800	228,400	191,100	162,000	186,500	175,700	175,500	98,100	132,100	189,000	155,500	138,900	137,200	122,600	114,700	103,300	101,700	111,900	90,200	88,700	113,000	135,200	120,700	127,300	136,900	261,900	175,400	278,600	157,000	172,100	146,200	150,100	146,600	145,400	118,700	122,600	95,500	103,500	103,500	85,500	85,600	100,900	91,900	69,800	67,800	78,700	72,600	58,800	49,900	55,500	48,000	40,400	-17,600	67,900	67,800	63,100	66,100	66,400	60,400	86,600	68,700
Other Cashflows From Financing Activities	-7,000	71,000	-199,000	-34,000	-980,000	5,000	80,000	338,000	-20,000	1,167,000	-15,000	-42,000	-6,000	485,000	250,000	-6,000	-19,900	371,400	124,500	-137,600	-9,200	-2,800	-1,700	-1,300	-2,200	-3,300	-20,700	-5,100	3,300	4,100	11,700	-5,000	311,100	17,800	21,900	558,400	-187,700	-3,500	38,300	39,400	4,100	534,800	6,300	10,000	2,400	-3,500	-6,900	36,200	16,100	100	26,300	2,800	900	2,800	300	3,000	3,379,500	2,871,900	3,435,400	3,825,500	137,700	244,900	160,300	93,100	1,150,500	583,100	672,100	188,900	17,900	11,000	12,800	61,500	-300	-2,300	-19,500	-300	-400	-300	-300	-300	108,000	-300	-93,400	-14,300	107,100	-6,100	-209,700	-3,000	42,600	-5,500	-7,800	-2,900	187,900	10,500	255,000	-2,700	55,800	700	129,100	55,100	75,300	400
Other Cashflows From Investing Activities	0	5,000	-3,000	10,000	21,000	-5,000	-9,000	-83,000	12,000	22,000	-23,000	-138,000	-2,000	-1,000	-2,000	-696,000	185,000	-84,300	-36,700	12,800	-254,300	-35,000	5,700	5,700	-111,100	-3,394,900	0	-5,000	-200	-3,200	2,500	-75,900	-3,000	-4,600	20,800	20,800	-29,200	-130,000	-7,900	-72,600	-50,700	0	0	0	0	0	-3,500	0	-187,400	-3,000	-7,100	0	-148,600	0	0	0	0	0	0	0	0	900	900	900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	800	0	0	0	0	0	0	0	0	0	0	100	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	287,000	12,000	119,000	-636,000	-41,000	0	20,000	-104,000	-23,000	1,220,000	-242,000	-462,000	13,000	-21,000	0	9,000	3,700	10,700	37,600	700	2,400	1,800	1,700	3,900	3,000	-69,900	-41,200	-59,700	-37,300	-14,800	-1,300	-16,300	400	-3,400	-3,700	-37,400	-4,200	-9,300	-109,200	-38,800	-6,400	-5,400	-10,900	-16,100	21,100	-15,400	46,900	-8,600	8,900	-100	-7,800	157,100	-900	-2,800	-300	-3,000	28,800	2,900	-2,500	-400	-500	15,200	6,400	9,500	-69,100	19,000	-38,900	-8,500	-231,900	9,000	7,900	-47,600	-13,900	23,700	24,000	38,600	1,600	16,200	13,500	26,200	2,500	11,700	12,800	6,900	3,000	22,000	1,300	0	3,200	0	0	0	300	170,600	-174,100	-1,100	5,200	-17,700	-15,600	8,200	38,300	-65,600
Sale Purchase Of Stock	-216,000	-237,000	-67,000	-41,000	983,000	-112,000	-311,000	-560,000	-122,000	-125,000	-371,000	-132,000	-250,000	12,000	13,000	-253,000	-263,000	-112,800	-167,000	-448,200	-55,400	-66,200	-37,600	-43,400	-36,100	-29,100	-79,500	-55,000	-59,900	-193,000	-223,800	-262,100	-192,500	-304,900	-234,900	-365,800	-440,300	-320,500	-258,100	-201,600	-145,500	-397,200	-259,100	-91,300	-71,400	-25,100	-100,000	27,600	333,800	-206,200	23,200	-127,600	-104,000	-19,700	-70,000	-29,900	0	0	0	-120,000	-120,000	-145,000	-63,400	-264,500	-311,400	-484,400	-500,000	-442,600	-149,600	-168,200	-574,000	-201,800	-363,500	-309,000	0	0	221,300	-35,100	-155,700	-30,500	-58,300	-64,000	0	-50,500	-226,700	-110,300	-1,800	-31,100	-72,300	-98,800	0	-96,500	0	0	0	-3,500	-10,400	-11,900	-124,500	-91,100	-79,100	-113,200
Stock Based Compensation	-196,000	46,000	50,000	47,000	39,000	46,000	38,000	46,000	48,000	41,000	41,000	45,000	44,000	38,000	35,000	37,000	32,800	33,300	34,200	35,700	30,300	30,500	34,400	35,100	34,000	31,800	28,700	28,400	25,300	23,900	23,500	25,400	20,700	22,100	21,700	22,700	20,500	19,300	20,300	20,300	17,800	16,000	16,100	17,200	18,200	16,400	14,900	15,000	13,500	12,900	14,300	16,000	15,300	13,600	12,900	14,800	16,200	10,600	16,100	14,500	0	0	0	11,200	90,200	0	0	21,200	77,100	0	0	13,900	54,800	0	0	16,900	27,800	0	0	5,200	10,800	0	0	2,100	3,600	0	0	0	0	0	0	0	0	0	0	0	27,600	0	0	0	0	-5,200
Total Cash From Financing Activities	-353,000	-607,000	-408,000	-216,000	-251,000	-245,000	-360,000	-352,000	-257,000	927,000	-502,000	-290,000	-354,000	-120,000	-642,000	765,000	-46,000	-331,000	-337,200	-848,800	568,700	-512,600	-285,300	-182,300	-289,500	719,100	623,900	553,700	-127,200	-259,800	-283,600	-339,200	51,500	-354,900	-281,500	123,900	-671,100	107,800	-279,100	-222,100	-155,600	83,000	-270,200	-156,000	-91,800	436,900	-135,500	-7,000	-25,300	-239,300	-8,000	-145,100	-136,600	119,100	-111,900	-111,900	-105,200	-70,700	-93,500	-79,400	-73,400	-39,900	6,600	-238,100	-168,300	-200,000	-159,100	-334,100	-132,600	-161,300	-561,700	-109,600	-357,500	-313,900	-16,500	21,400	16,500	-26,800	-152,700	700	-43,400	-50,100	-76,000	-58,200	-117,100	-127,100	27,000	-19,400	-67,000	-89,900	11,900	-88,000	40,600	-84,200	232,000	-106,800	-2,500	-62,300	-80,400	-66,500	-50,400	-141,900
Total Cash From Operating Activities	477,000	462,000	604,000	608,000	377,000	336,000	291,000	470,000	299,000	436,000	594,000	676,000	658,000	511,000	632,000	345,000	479,500	441,000	387,400	367,100	376,500	307,300	385,800	391,500	404,800	390,400	464,700	-512,400	369,500	327,800	291,500	237,300	260,500	299,100	332,600	261,800	308,800	251,800	280,800	177,200	273,300	284,400	166,500	202,600	327,100	260,500	173,500	62,000	137,000	220,400	245,000	200,900	178,600	170,700	139,900	164,100	187,200	132,100	132,400	192,100	134,300	153,700	61,800	184,900	214,400	293,100	291,200	185,300	183,300	246,600	182,500	140,100	161,600	200,700	189,100	156,500	141,400	148,800	123,100	106,400	136,400	152,300	102,600	77,100	91,600	124,600	81,100	37,500	68,000	104,800	61,700	71,800	60,000	129,900	-221,500	99,200	68,000	83,700	125,700	67,300	21,100	42,300
Total Cashflows From Investing Activities	0	-193,000	-40,000	-63,000	-90,000	-172,000	-11,000	-161,000	-458,000	-1,910,000	-57,000	-194,000	-224,000	-30,000	-51,000	-772,000	185,500	-96,700	-45,600	-7,200	-292,600	-68,500	-26,800	-18,500	-12,600	-3,447,300	21,300	18,600	104,400	4,900	101,100	-108,400	-10,500	-32,200	0	-49,300	-320,300	-131,200	-31,200	-82,200	-39,100	-203,800	-16,200	-2,800	-4,100	-20,200	-12,300	-13,600	-202,300	-24,900	-27,100	-13,300	-173,800	-21,700	-19,700	-13,600	-93,800	-64,400	0	0	0	0	0	0	0	0	0	28,400	116,100	48,500	75,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31
Cost Of Revenue	2,062,000	1,613,000	1,637,000	1,475,000	1,387,000	1,245,500	1,222,800	1,026,600	976,300	930,300	822,400	795,000	683,500	604,800	532,400	493,300	584,000	539,400	452,900	375,400	347,300	285,300	239,600	189,600	559,500	568,200
Depreciation And Amortization	373,000	508,000	383,000	334,000	332,000	191,900	158,300	126,700	113,500	95,600	93,400	93,500	79,200	66,300	64,100	75,100	42,900	39,500	35,200	34,100	32,600	24,600	17,000	16,600	140,900	141,600
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
Ebit	2,221,000	1,883,000	2,844,000	2,388,000	1,998,000	1,970,100	1,859,700	1,532,400	1,503,300	1,461,400	1,266,600	1,111,100	888,400	776,000	707,500	709,400	1,221,000	1,100,900	949,500	785,300	648,000	537,600	398,600	289,400	497,900	485,500
Ebitda	2,594,000	2,391,000	3,227,000	2,722,000	2,330,000	2,162,000	2,018,000	1,659,100	1,616,800	1,557,000	1,360,000	1,204,600	967,600	842,300	771,600	784,500	1,263,900	1,140,400	984,700	819,400	680,600	562,200	415,600	306,000	638,800	627,100
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	-48,000	0	0	0	59,000	-245,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	3,854,000	3,855,000	4,581,000	3,896,000	3,442,000	3,197,200	2,981,300	2,577,600	2,508,200	2,404,000	2,150,100	1,935,300	1,597,200	1,427,200	1,264,800	1,262,100	1,675,000	1,497,700	1,278,700	1,062,900	899,300	738,000	557,100	412,700	1,412,300	1,366,300
Income Before Tax	1,935,000	1,760,000	2,755,000	2,229,000	1,810,000	1,671,000	1,786,800	558,000	1,379,600	1,461,000	1,169,300	1,024,000	839,800	714,400	646,200	725,800	1,116,700	1,260,500	934,700	771,300	656,400	517,400	381,900	284,000	434,900	399,800
Income Tax Expense	327,000	386,000	541,000	452,000	381,000	351,600	779,100	282,200	430,000	455,000	353,400	324,300	261,800	201,000	239,100	268,200	415,200	506,600	373,900	346,200	292,500	228,500	169,700	125,500	178,900	153,400
Interest Expense	207,000	246,000	201,000	216,000	225,000	230,700	204,400	148,700	124,800	123,500	97,300	69,000	62,100	55,600	35,900	22,400	14,300	1,000	4,900	15,100	6,700	20,700	16,600	4,500	45,200	15,200
Interest Income	60,000	194,000	117,000	11,000	17,000	14,700	16,000	10,900	109,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-1,000	0	0	-1,000	7,000	9,800	7,100	9,200	8,300	17,300	11,400	9,700	6,600	5,600	5,100	4,000	0	0	0	0	0	0	0	0	0	0
Net Income	1,607,000	1,374,000	2,214,000	1,778,000	1,422,000	1,309,600	1,000,600	266,600	941,300	988,700	804,500	690,000	571,400	507,800	402,000	457,600	701,500	753,900	560,800	425,100	363,900	288,900	212,200	158,500	256,000	280,100
Net Income Applicable To Common Shares	0	1,374,000	2,214,000	1,778,000	1,422,000	1,309,600	1,000,600	266,600	941,300	988,700	804,500	690,000	571,400	507,800	402,000	457,600	701,500	753,900	560,800	425,100	363,900	288,900	212,200	158,500	0	0
Net Income From Continuing Ops	1,514,000	1,374,000	2,214,000	1,777,000	1,429,000	1,319,400	1,007,700	275,800	949,600	1,006,000	815,900	699,700	578,000	513,400	407,100	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-250,000	-231,000	-171,000	-205,000	-208,000	-216,000	-188,400	-137,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	108,000	82,000	46,000	20,000	18,800	166,100	57,100	21,300	21,900	-65,300	-53,400	-48,600	-58,400	-7,900	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	114,000	0	50,000	63,000	57,000	22,500	875,800	875,800	875,800	0	12,200	0	100	17,500	0	0	0	0	0	0	0	0	0	0	0
Operating Income	2,221,000	1,883,000	2,844,000	2,388,000	1,998,000	1,868,200	1,809,100	638,700	1,473,400	1,439,100	1,234,600	1,077,400	888,400	772,800	687,500	748,200	1,131,000	1,259,500	939,600	786,400	663,100	538,100	398,500	288,500	480,100	448,700
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
Other Operating Expenses	3,695,000	3,471,000	3,374,000	2,924,000	2,754,000	2,517,500	2,372,500	2,088,100	2,004,700	1,888,800	1,718,700	1,627,900	1,392,300	1,259,100	1,092,200	1,009,700	1,078,000	777,600	792,000	651,900	583,500	485,200	398,200	313,800	1,491,700	1,485,800
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
Reconciled Depreciation	365,000	331,000	257,000	220,000	200,000	191,900	158,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	42,000	40,100	29,100	37,900	22,800	16,100	29,800	20,300	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	1,607,000	1,527,000	1,480,000	1,229	1,167,000	1,080,100	991,400	936,400	921,300	869,300	822,100	752,200	629,600	588,000	495,700	441,300	451,100	359,300	303,900	242,400	203,600	175,300	141,600	107,600	791,300	776,000
Tax Provision	298,000	386,000	541,000	452,000	381,000	351,600	779,100	282,200	430,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	1,633,000	1,858,000	1,737,000	1,449,000	1,367,000	1,272,000	1,149,700	1,061,500	1,028,400	958,500	896,300	832,900	708,800	654,300	559,800	516,400	494,000	238,200	339,100	276,500	236,200	199,900	158,600	124,200	932,200	917,600
Total Other Income Expense Net	-286,000	-123,000	-89,000	-159,000	-188,000	-38,200	143,600	-820,300	14,900	132,300	7,300	-14,600	13,500	-6,000	-25,400	36,300	-40,000	158,600	-9,900	1,100	15,100	500	-100	-900	-17,800	-36,800
Total Revenue	5,916,000	5,468,000	6,218,000	5,371,000	4,829,000	4,442,700	4,204,100	3,604,200	3,484,500	3,334,300	2,972,500	2,730,300	2,280,700	2,032,000	1,797,200	1,755,400	2,259,000	2,037,100	1,731,600	1,438,300	1,246,600	1,023,300	796,700	602,300	1,971,800	1,934,500

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30	1998-03-31
Cost Of Revenue	518,000	412,000	426,000	428,000	410,000	393,000	393,000	417,000	485,000	394,000	365,000	393,000	409,000	364,000	362,000	340,000	355,000	350,200	339,900	341,700	304,100	306,300	320,200	314,900	342,400	317,200	285,800	277,400	265,300	253,200	258,900	249,200	251,900	236,100	243,900	244,400	255,500	236,700	222,100	216,000	221,000	203,500	197,100	200,800	221,600	207,300	180,600	185,500	181,200	171,000	170,500	160,800	180,900	153,700	134,300	135,900	146,900	135,100	128,000	122,400	-194,400	230,800	237,300	219,600	-220,200	262,900	273,300	268,000	-83,000	216,900	213,000	192,500	98,200	180,400	185,300	169,400	375,400	151,800	149,400	140,000	347,300	135,700	128,100	121,300	285,300	113,800	115,800	92,800	102,000	92,300	92,200	86,300	80,300	75,100	132,900	146,800	132,500	129,100	151,800	146,100	148,300	130,200	145,600	-
Depreciation And Amortization	97,000	95,000	131,000	152,000	89,000	102,000	126,000	86,000	77,000	61,000	60,000	59,000	57,000	56,000	58,000	49,000	50,000	48,600	51,000	50,300	48,300	46,100	48,400	49,100	49,900	43,000	32,900	32,500	32,900	32,700	31,200	29,900	28,700	28,300	27,900	28,600	27,000	23,200	22,300	23,100	23,300	23,400	23,100	23,600	23,800	24,100	22,100	23,500	20,700	19,000	21,800	17,700	17,200	18,100	15,200	15,800	16,600	16,200	15,700	15,600	31,200	14,600	16,800	12,500	11,900	11,600	9,100	10,300	11,000	9,800	9,300	9,400	9,100	8,800	8,700	8,600	8,800	8,300	8,700	8,300	8,800	8,100	7,900	7,800	7,200	7,100	6,200	4,100	4,500	4,400	4,000	4,100	3,800	-43,600	22,300	34,100	35,800	33,500	36,200	35,400	36,400	34,300	35,400	-407,600
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Ebit	534,000	598,000	550,000	554,000	411,000	413,000	508,000	656,000	577,000	690,000	806,000	911,000	489,000	673,000	735,000	603,000	524,000	562,400	561,700	482,100	441,800	478,500	548,100	501,700	473,700	465,100	473,200	447,700	394,000	411,000	415,200	308,600	339,500	363,200	425,600	375,700	347,900	360,300	417,200	336,000	333,900	295,300	354,400	283,000	271,600	269,700	278,500	269,000	173,400	196,300	272,200	251,100	195,100	190,700	194,700	196,700	186,400	176,200	199,900	168,900	107,200	179,500	233,200	189,500	316,600	248,300	363,700	304,700	463,300	268,800	289,100	238,300	242,400	231,900	252,800	212,500	206,200	197,800	199,500	182,900	157,400	168,600	180,900	141,100	112,000	133,300	153,000	139,300	99,600	97,600	108,100	93,300	78,000	121,400	54,600	120,100	176,200	99,900	116,200	104,600	151,700	97,400	137,100	878,700
Ebitda	631,000	693,000	681,000	706,000	500,000	515,000	634,000	742,000	654,000	751,000	866,000	970,000	546,000	729,000	793,000	652,000	574,000	611,000	612,700	532,400	490,100	524,600	596,500	550,800	523,600	508,100	506,100	480,200	426,900	443,700	446,400	338,500	368,200	391,500	453,500	404,300	374,900	383,500	439,500	359,100	357,200	318,700	377,500	306,600	295,400	293,800	300,600	292,500	194,100	215,300	294,000	268,800	212,300	208,800	209,900	212,500	203,000	192,400	215,600	184,500	138,400	194,100	250,000	202,000	328,500	259,900	372,800	315,000	474,300	278,600	298,400	247,700	251,500	240,700	261,500	221,100	215,000	206,100	208,200	191,200	166,200	176,700	188,800	148,900	119,200	140,400	159,200	143,400	104,100	102,000	112,100	97,400	81,800	77,800	76,900	154,200	212,000	133,400	152,400	140,000	188,100	131,700	172,500	471,100
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-48,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-5,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Gross Profit	962,000	1,060,000	1,068,000	1,042,000	880,000	882,000	988,000	1,105,000	1,054,000	1,132,000	1,188,000	1,207,000	881,000	992,000	1,073,000	950,000	878,000	890,300	873,700	800,400	756,000	774,500	854,900	811,800	823,100	745,700	714,700	697,800	676,800	663,900	670,000	566,900	614,000	598,800	674,200	621,200	622,000	579,400	651,400	551,200	558,200	502,000	558,900	531,000	532,600	481,200	460,200	461,300	385,900	360,300	434,700	416,300	383,400	359,600	343,500	340,700	338,900	316,700	322,700	286,500	598,100	202,600	250,300	211,100	725,100	262,100	372,800	315,000	673,000	278,600	298,400	440,200	375,000	421,100	261,500	221,100	16,200	357,900	357,600	331,200	3,400	305,000	312,700	278,200	-13,400	248,300	271,500	231,600	220,900	190,400	205,200	180,200	161,100	152,500	214,900	348,900	377,400	344,600	345,500	344,800	371,500	329,400	338,400	471,100
Income Before Tax	450,000	487,000	492,000	506,000	327,000	381,000	443,000	609,000	516,000	619,000	758,000	862,000	400,000	599,000	666,000	564,000	452,000	512,800	433,300	411,500	321,600	412,800	495,500	441,100	407,700	465,800	462,000	451,300	-465,500	369,000	378,900	275,600	312,300	343,600	379,200	344,500	335,800	328,400	485,200	311,600	301,800	263,500	336,800	267,200	236,400	264,400	264,600	258,600	155,600	184,800	264,200	235,200	172,600	181,400	177,900	182,500	167,300	162,700	174,600	141,600	124,300	183,900	221,400	196,200	192,300	241,500	381,500	301,400	463,300	265,700	289,800	241,700	243,900	234,600	248,900	207,300	206,000	194,300	193,100	177,900	173,000	153,800	172,500	157,100	124,800	121,500	141,000	130,100	105,900	89,800	99,900	86,300	72,400	72,500	38,300	113,600	112,100	116,600	108,000	98,200	140,600	108,600	70,700	63,500
Income Tax Expense	110,000	97,000	115,000	5,000	81,000	78,000	116,000	111,000	89,000	145,000	181,000	126,000	86,000	132,000	157,000	77,000	91,000	130,400	121,300	37,900	68,900	100,800	117,600	64,300	379,200	146,100	148,400	105,400	-40,000	112,400	120,800	89,000	91,900	109,800	115,100	113,200	94,400	109,900	160,800	89,900	92,200	76,700	108,400	76,100	74,400	77,900	88,900	83,100	57,500	52,700	73,500	78,100	33,700	44,200	55,300	67,800	64,000	61,000	63,600	50,500	35,600	70,900	86,200	75,500	65,000	104,600	119,600	126,000	184,700	108,700	117,700	95,500	93,800	88,000	103,500	88,600	83,400	98,800	89,600	74,400	87,500	68,200	71,600	65,200	55,000	53,700	62,300	57,500	47,100	39,900	44,400	38,300	32,000	32,000	17,200	45,800	49,000	50,500	41,600	37,800	54,000	39,900	31,000	-63,500
Interest Expense	51,000	85,000	86,000	76,000	71,000	63,000	57,000	55,000	64,000	56,000	50,000	45,000	54,000	53,000	63,000	44,000	63,000	49,500	54,500	57,500	59,500	60,500	56,800	53,900	55,900	52,400	49,600	46,500	36,700	37,900	37,100	37,000	30,800	29,300	34,200	31,200	30,900	39,500	27,700	25,400	25,200	26,000	22,900	23,200	23,100	15,300	16,600	10,300	18,300	12,900	16,300	19,200	18,600	14,200	19,400	10,400	15,000	11,500	13,200	11,500	1,100	5,900	12,300	3,100	19,800	9,000	17,800	3,300	4,000	3,100	700	3,400	1,500	2,700	3,900	5,200	200	3,500	6,400	5,000	3,100	7,400	4,200	8,000	4,200	5,900	6,000	4,600	5,100	3,900	4,100	3,500	4,600	400	9,900	6,200	36,400	5,100	7,500	6,400	5,700	5,500	35,300	471,100
Interest Income	0	19,000	15,000	28,000	56,000	5,000	2,000	2,000	8,000	40,000	1,000	38,000	2,000	34,000	3,000	4,000	4,500	3,600	3,900	44,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	-1,000	0	0	0	0	0	0	0	0	194,000	195,000	194,000	196,000	196,000	-1,000	1,600	3,000	1,700	700	2,400	1,800	1,700	3,900	3,000	2,400	1,400	300	3,100	1,300	2,600	2,200	2,500	2,200	2,400	1,200	5,100	3,300	5,200	3,700	2,900	2,900	2,900	2,700	1,900	2,600	3,200	2,000	1,900	1,400	1,700	1,600	1,500	1,200	1,600	1,300	1,400	1,100	1,700	900	300	800	2,400	500	5,300	0	0	0	0	0	0	0	0	0	0	0	0	0	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	340,000	389,000	377,000	501,000	246,000	303,000	327,000	498,000	427,000	474,000	577,000	736,000	314,000	467,000	509,000	488,000	359,000	379,400	310,300	372,900	250,300	310,200	376,200	372,900	25,500	317,300	312,200	345,600	-428,600	255,300	255,500	184,400	217,900	231,600	261,700	230,100	236,300	215,200	319,200	218,000	206,700	183,900	225,500	188,400	160,100	183,900	172,500	173,500	96,200	130,700	189,000	155,500	137,400	136,000	121,000	113,400	101,900	100,600	111,000	90,200	88,700	113,000	135,200	120,700	127,300	136,900	261,900	175,400	278,600	157,000	172,100	146,200	150,100	146,600	145,400	118,700	122,600	95,500	103,500	103,500	85,500	85,600	100,900	91,900	69,800	67,800	78,700	72,600	58,800	49,900	55,500	48,000	40,400	40,500	67,900	67,800	63,100	66,100	66,400	60,400	86,600	68,700	61,300	63,500
Net Income Applicable To Common Shares	0	389,000	377,000	501,000	246,000	303,000	327,000	498,000	427,000	474,000	577,000	736,000	314,000	467,000	509,000	488,000	359,400	379,400	310,300	372,900	250,300	310,200	376,200	372,900	25,500	317,300	312,200	345,600	-428,600	255,300	255,500	184,400	217,900	231,600	261,700	230,100	236,300	215,200	319,200	218,000	206,700	183,900	225,500	188,400	160,100	183,900	172,500	173,500	96,200	130,700	189,000	155,500	137,400	136,000	121,000	113,400	101,900	100,600	109,300	90,200	88,700	113,000	135,200	120,700	127,300	136,900	261,900	175,400	278,600	157,000	172,100	146,200	150,100	146,600	145,400	118,700	122,600	95,500	103,500	103,500	85,500	85,600	100,900	91,900	69,800	67,800	78,700	72,600	58,800	49,900	55,500	48,000	40,400	40,500	41,700	35,900	0	0	0	0	0	0	-	-
Net Income From Continuing Ops	0	390,000	377,000	501,000	246,000	303,000	327,000	498,000	427,000	474,000	577,000	736,000	314,000	467,000	509,000	487,000	361,000	382,400	312,000	373,600	252,700	312,000	377,900	376,800	28,500	319,700	313,600	345,900	-425,500	256,600	258,100	186,600	220,400	233,800	264,100	231,300	241,400	218,500	324,400	221,700	209,600	186,800	228,400	191,100	162,000	186,500	175,700	175,500	98,100	132,100	190,700	157,100	138,900	137,200	122,600	114,700	0	0	111,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Net Interest Income	0	-66,000	-71,000	-48,000	-65,000	-58,000	-55,000	-53,000	-62,000	-53,000	-49,000	-7,000	-52,000	-53,000	-60,000	-40,000	-59,000	-45,900	-50,600	-52,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,000	0	86,000	26,000	-10,000	6,000	64,000	-4,000	6,000	16,000	0	10,000	16,000	12,000	7,400	9,900	400	2,300	500	2,400	14,900	1,000	-2,200	68,500	49,500	50,300	41,600	6,900	3,000	5,600	36,600	19,700	-8,200	-26,800	-8,900	-21,300	73,500	-21,400	-10,100	-28,000	-14,000	-13,200	-23,800	-5,300	-13,900	-10,400	-16,500	-11,300	-5,900	-14,900	-37,300	-7,500	-12,600	-1,000	0	0	-6,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Non Recurring	0	0	10,000	14,000	82,000	1,000	31,000	0	0	0	0	2,000	0	23,000	-2,000	-1,000	-9,400	1,000	64,500	6,900	52,900	1,300	2,000	800	5,800	10,100	6,600	6,600	867,400	8,400	-36,000	12,000	875,800	0	0	0	875,800	0	0	0	0	0	0	0	12,200	0	0	0	0	200	-100	0	100	400	300	-700	0	0	3,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	534,000	535,000	550,000	554,000	411,000	413,000	508,000	656,000	514,000	676,000	801,000	853,000	444,000	642,000	710,000	592,000	504,000	548,800	483,500	461,700	376,600	466,800	534,000	490,800	462,800	445,400	457,500	443,400	-473,100	397,500	410,200	304,100	333,100	349,700	419,300	371,300	344,700	349,700	411,700	333,000	311,900	291,500	350,800	280,400	260,200	269,700	278,500	269,000	172,100	196,100	270,100	250,100	196,600	188,900	190,500	196,800	178,900	172,500	187,200	148,900	125,400	189,800	233,700	199,300	212,100	250,500	363,700	304,700	463,300	268,800	289,100	238,300	242,400	231,900	252,800	212,500	206,200	197,800	199,500	182,900	176,100	161,200	176,700	149,100	129,000	127,400	147,000	134,700	111,000	93,700	104,000	89,800	77,000	72,900	48,200	119,800	148,500	111,500	115,500	104,600	146,300	103,100	106,000	471,100
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	946,000	910,000	934,000	902,000	902,000	861,000	842,000	866,000	1,027,000	850,000	752,000	745,000	816,000	691,000	727,000	690,000	724,000	690,700	665,600	673,500	630,600	612,700	639,100	635,100	696,900	607,400	536,400	531,800	551,400	509,600	518,700	512,000	532,800	478,800	498,800	494,300	532,800	460,000	461,800	434,200	448,100	414,000	405,200	451,400	481,800	418,800	362,300	377,800	395,100	335,000	335,200	327,000	367,600	324,000	287,000	280,500	308,000	275,600	260,400	248,200	278,100	245,400	254,100	232,100	242,800	274,500	282,400	278,300	126,700	226,700	222,300	201,900	230,800	189,200	194,000	178,000	185,400	160,100	158,100	148,300	174,600	143,800	136,000	129,100	142,900	120,900	124,500	96,900	109,900	96,700	101,200	90,400	84,100	79,600	299,600	375,900	361,400	362,200	381,800	386,300	373,500	356,500	378,000	-
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	0	0	0	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	0	95,000	93,000	88,000	89,000	83,000	81,000	78,000	77,000	61,000	60,000	59,000	57,000	56,000	58,000	49,000	50,100	48,600	51,000	50,300	48,300	46,100	48,400	49,100	49,900	43,000	32,900	32,500	32,900	32,700	31,200	29,900	28,700	28,300	27,900	28,600	27,000	23,200	22,300	23,100	23,300	23,400	23,100	23,600	23,800	24,100	22,100	23,500	20,700	19,000	21,800	17,700	17,200	18,100	15,200	15,800	16,600	16,200	15,700	15,600	31,200	14,600	16,800	12,500	11,900	11,600	9,100	10,300	11,000	9,800	9,300	9,400	9,100	8,800	8,700	8,600	8,800	8,300	8,700	8,300	8,800	8,100	7,900	7,800	7,200	7,100	6,200	4,100	4,500	4,400	4,000	4,100	3,800	-43,600	22,300	34,100	35,800	33,500	36,200	35,400	36,400	34,300	35,400	-
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	42,000	0	0	0	40,100	0	0	0	29,100	0	0	0	37,900	0	0	0	22,800	0	0	0	16,100	0	0	0	29,800	0	0	0	20,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Selling And Marketing Expenses	0	0	0	386,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-
Selling General Administrative	0	403,000	415,000	386,000	403,000	385,000	368,000	371,000	465,000	395,000	327,000	293,000	1,229	271,000	307,000	301,000	318,900	291,900	274,700	281,500	278,200	260,300	270,500	271,100	304,600	247,200	217,700	221,900	253,200	225,300	228,600	232,900	252,200	220,800	227,000	221,300	250,300	206,500	217,400	195,100	223,000	187,100	185,000	227,000	236,400	187,400	159,600	168,800	193,200	145,000	142,900	148,500	169,500	152,200	137,500	128,800	144,500	124,300	116,700	110,200	113,500	108,100	114,000	99,700	451,100	0	0	0	359,300	0	0	192,500	231,200	180,400	0	0	198,800	151,800	149,400	140,000	181,500	135,700	128,100	121,300	324,900	113,800	118,300	92,800	134,200	92,300	97,200	86,300	109,300	75,100	140,400	195,000	193,100	199,600	0	0	0	0	-	-
Tax Provision	0	97,000	115,000	5,000	81,000	78,000	116,000	111,000	89,000	145,000	181,000	126,000	86,000	132,000	157,000	77,000	91,400	130,400	121,300	37,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	428,000	498,000	934,000	902,000	492,000	468,000	449,000	449,000	542,000	456,000	387,000	352,000	407,000	327,000	365,000	350,000	369,000	340,500	325,700	331,800	326,500	306,400	318,900	320,200	354,500	290,200	250,600	254,400	286,100	256,400	259,800	262,800	280,900	242,700	254,900	249,900	277,300	223,300	239,700	218,200	227,100	210,500	208,100	250,600	260,200	211,500	181,700	192,300	213,900	164,000	164,700	166,200	186,700	170,300	152,700	144,600	161,100	140,500	132,400	125,800	472,500	14,600	16,800	12,500	463,000	11,600	9,100	10,300	209,700	9,800	9,300	201,900	-222,100	189,200	8,700	8,600	-190,000	160,100	158,100	148,300	-172,700	143,800	136,000	129,100	-142,400	120,900	124,500	96,900	-129,700	96,700	101,200	90,400	-105,500	79,600	166,700	229,100	228,900	233,100	230,000	240,200	225,200	226,300	232,400	-
Total Other Income Expense Net	-84,000	-9,000	-58,000	-48,000	-84,000	-32,000	-65,000	-47,000	66,000	-4,000	6,000	14,000	-22,000	-13,000	18,000	4,000	2,000	8,900	-64,100	-4,600	-52,400	1,100	12,900	200	-8,000	58,400	42,900	50,300	-822,200	-3,100	3,000	5,600	7,300	13,300	-8,200	2,500	20,400	10,000	99,500	2,400	-5,600	-3,600	7,700	8,800	-14,400	10,000	2,700	-100	500	1,400	8,300	3,300	-3,900	4,900	-3,900	-3,800	2,000	-2,000	-9,600	-15,800	18,400	8,500	300	9,100	-54,500	2,200	17,800	-3,300	0	-3,100	700	3,400	1,500	2,700	-3,900	-5,200	-200	-3,500	-6,400	-5,000	18,700	-7,400	-4,200	8,000	17,000	-5,900	-6,000	-4,600	11,400	-3,900	-4,100	-3,500	-1,000	-400	-2,400	-300	-27,700	11,600	-700	-6,400	-5,400	5,700	-31,100	-407,600
Total Revenue	1,480,000	1,472,000	1,494,000	1,470,000	1,290,000	1,275,000	1,381,000	1,522,000	1,539,000	1,526,000	1,553,000	1,600,000	1,290,000	1,356,000	1,435,000	1,290,000	1,233,000	1,240,500	1,213,600	1,142,100	1,060,100	1,080,800	1,175,100	1,126,700	1,165,500	1,062,900	1,000,500	975,200	942,100	917,100	928,900	816,100	865,900	834,900	918,100	865,600	877,500	816,100	873,500	767,200	779,200	705,500	756,000	731,800	754,200	688,500	640,800	646,800	567,100	531,300	605,200	577,100	564,300	513,300	477,800	476,600	485,800	451,800	450,700	408,900	403,700	433,400	487,600	430,700	504,900	525,000	646,100	583,000	590,000	495,500	511,400	440,200	473,200	421,100	446,800	390,500	391,600	357,900	357,600	331,200	350,700	305,000	312,700	278,200	271,900	248,300	271,500	231,600	220,900	190,400	205,200	180,200	161,100	152,500	347,800	495,700	509,900	473,700	497,300	490,900	519,800	459,600	484,000	471,100

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

Gross Profit (+$)
totalRevenue	5,916,000
Cost of Revenue	-2,062,000
Gross Profit	3,854,000	3,854,000

Operating Income (+$)
Gross Profit	3,854,000
Operating Expense	-1,633,000
Operating Income	2,221,000	2,221,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	1,607,000
Selling And Marketing Expenses	0
Operating Expense	1,633,000	1,607,000

Net Interest Income (+$)
Interest Income	60,000
Interest Expense	-207,000
Other Finance Cost	-103,000
Net Interest Income	-250,000

Pretax Income (+$)
Operating Income	2,221,000
Net Interest Income	-250,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	1,935,000	2,507,000 EBIT - interestExpense = 2,014,000 1,934,000 1,814,000
Interest Expense	207,000
Earnings Before Interest and Taxes (EBIT)	2,221,000	2,142,000
Earnings Before Interest and Taxes (EBITDA)	2,594,000

After tax Income (+$)
Income Before Tax	1,935,000
Tax Provision	-298,000
Net Income From Continuing Ops	1,514,000	1,637,000
Net Income	1,607,000
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	3,695,000
Total Other Income/Expenses Net	-286,000	250,000

Technical Analysis of Moodys
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 Moodys. The general trend of Moodys is BULLISH with 28.6% 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 Moodys'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 (28.6%)		Bearish trend (-28.6%)
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 Moodys Corporation.

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: 378.72 < 400.18 < 402.38.

The bearish price targets are: 365.65 > 363.73 > 347.33.

Tweet this

Moodys Corporation 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 Moodys Corporation. The current mas is .

The long score for the Moving Averages is 9/14.
The longshort score for the Moving Averages is 4/(-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 down: The MA 50 is trending down. -1
Close < MA 50: The price is below 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 below 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.

Moodys Corporation 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 Moodys Corporation. The current macd is -3.28396236.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-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 Moodys price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Moodys. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Moodys price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Moodys Corporation 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 Moodys Corporation. The current adx is 13.99.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Moodys shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1

Moodys Corporation 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 Moodys Corporation. The current sar is 389.73.

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

Moodys Corporation 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 Moodys Corporation. The current rsi is 38.60. The current phase is Correction in bull market.

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

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

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Moodys Corporation 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 Moodys Corporation. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 2/6.
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 < 20: The STOCH %K is below 20 and oversold. -2
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 Moodys price going up in the near term. +2
Trending down: The STOCH %K is trending down. -1

Moodys Corporation 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 Moodys Corporation. The current cci is -130.44620056.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

Moodys Corporation 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 Moodys Corporation. The current cmo is -31.02558419.

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

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

Moodys Corporation 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 Moodys Corporation. The current willr is -84.27071957.

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

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

Moodys Corporation 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 Moodys Corporation.

Moodys Corporation 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 Moodys Corporation. The current atr is 7.46937108.

Moodys Corporation 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 Moodys Corporation. The current obv is 13,910,000.

Moodys Corporation 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 Moodys Corporation. The current mfi is 39.39.

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

MFI < 50: -1

Moodys Corporation Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Moodys Corporation.

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

6.3. Candlestick Patterns

Moodys Corporation Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Moodys Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	38.601
Ma 20	Greater than	Ma 50	386.950
Ma 50	Greater than	Ma 100	385.400
Ma 100	Greater than	Ma 200	383.958
Open	Greater than	Close	377.190
Total			4/5 (80.0%)

Create your own Symbol Scanner

Get notifications about Moodys Corporation

I send you an email if I find something interesting about Moodys Corporation.

Moodys Corporation Buy, Hold or Sell?

Let's analyse Moodys together

Get notifications about Moodys Corporation

Quick analysis of Moodys (30 sec.)

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

$374.60

$18.93

$-0.73 - $93.36

$18.21 - $112.29

2. Growth of Moodys (5 min.)

Is Moodys growing?

How much money is Moodys making?

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

3. Financial Health of Moodys (5 min.)

4. Comparing to competitors in the Financial Data & Stock Exchanges industry (5 min.)

Industry Rankings (Financial Data & Stock Exchanges)

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

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

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Moodys

About Moodys Corporation

Financial Health

Valuation

1.1. Profitability of Moodys Corporation.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.1.2. Return on Assets

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.1.3. Return on Equity

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.2. Operating Efficiency of Moodys Corporation.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.2.2. Operating Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.3. Liquidity of Moodys Corporation.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.3.2. Quick Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.4. Solvency of Moodys Corporation.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

2. Market Valuation of Moodys Corporation

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Financial Data & Stock Exchanges)

Moodys Corporation
Buy, Hold or Sell?