Ventas Inc
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Let's analyse Ventas Inc together

Penke I guess you are interested in Ventas Inc. 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 Ventas Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

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

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Quick analysis of Ventas Inc (30 sec.)

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

How much money do you get?

$1.79

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$24.20

Expected worth in 1 year

$23.09

How sure are you?

82.5%

+ What do you gain per year?

Total Gains per Share

$0.68

Return On Investment

1.6%

For what price can you sell your share?

Current Price per Share

$42.64

Expected price per share

$40.20 - $44.19

How sure are you?

50%

1. Valuation of Ventas Inc (5 min.)

Live pricePrice per Share (EOD)

$42.64

Book Value per Share

$24.20

Intrinsic Value Per Share

$8.27 - $20.45

Total Value Per Share

$32.46 - $44.65

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

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.56) 3Y: ($0.42) TTM: ($0.49)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.01) 3Y: ($0.00) TTM: ($0.05)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.55	$2.23	$1.56 - $2.28
2	$2.90	$4.41	$1.44 - $2.30
3	$4.07	$6.56	$1.31 - $2.33
4	$5.06	$8.66	$1.18 - $2.35
5	$5.90	$10.72	$1.05 - $2.37
6	$6.61	$12.75	$0.93 - $2.40
7	$7.18	$14.73	$0.80 - $2.42
8	$7.64	$16.67	$0.67 - $2.45
9	$8.00	$18.58	$0.54 - $2.47
10	$8.27	$20.45	$0.42 - $2.49

2. Growth of Ventas Inc (5 min.)

Is Ventas Inc growing?

	Current year	Previous year	Grow	Grow %
How rich?	$9.8b	$10.5b	-$424.3m	-4.2%

How much money is Ventas Inc making?

	Current year	Previous year	Grow	Grow %
Making money	-$10.2m	-$10.6m	$454.5k	4.4%
Net Profit Margin	-0.8%	-1.0%	-	-

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

Quarterly Yearly

3. Financial Health of Ventas Inc (5 min.)

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

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

What can you expect buying and holding a share of Ventas Inc?

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

Speculation

The Price per Share of Ventas Inc is $42.64. 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 Ventas Inc.
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 Ventas Inc, 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 $24.20. Based on the TTM, the Book Value Change Per Share is $-0.28 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.45 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 $0.45 per quarter.

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

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	-0.22	-0.5%	-0.02	-0.1%	-0.03	-0.1%	0.10	0.2%	0.25	0.6%
Usd Book Value Change Per Share	-0.90	-2.1%	-0.28	-0.6%	-0.45	-1.1%	-0.06	-0.1%	0.05	0.1%
Usd Dividend Per Share	0.45	1.0%	0.45	1.0%	0.45	1.0%	0.52	1.2%	0.61	1.4%
Usd Total Gains Per Share	-0.45	-1.1%	0.17	0.4%	0.00	0.0%	0.46	1.1%	0.67	1.6%
Usd Price Per Share	49.84	-	45.65	-	49.60	-	50.76	-	54.43	-
Price to Earnings Ratio	-55.84	-	45.12	-	792.03	-	216.32	-	135.19	-
Price-to-Total Gains Ratio	-109.88	-	214.41	-	-332.62	-	150.72	-	135.22	-
Price to Book Ratio	2.06	-	1.82	-	1.89	-	1.96	-	2.15	-
Price-to-Total Gains Ratio	-109.88	-	214.41	-	-332.62	-	150.72	-	135.22	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	42.64
Number of shares	23

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.45	0.52
Usd Book Value Change Per Share	-0.28	-0.06
Usd Total Gains Per Share	0.17	0.46
Gains per Quarter (23 shares)	3.94	10.59
Gains per Year (23 shares)	15.75	42.36

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	41	-25	6	48	-6	32
2	82	-51	22	96	-11	74
3	123	-76	38	144	-17	116
4	164	-101	54	192	-23	158
5	206	-127	70	240	-28	200
6	247	-152	86	288	-34	242
7	288	-178	102	336	-39	284
8	329	-203	118	384	-45	326
9	370	-228	134	432	-51	368
10	411	-254	150	480	-56	410

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	2.0	2.0	0.0	50.0%	6.0	6.0	0.0	50.0%	13.0	7.0	0.0	65.0%	33.0	7.0	0.0	82.5%	93.0	9.0	0.0	91.2%
Book Value Change Per Share	1.0	3.0	0.0	25.0%	3.0	9.0	0.0	25.0%	5.0	15.0	0.0	25.0%	12.0	28.0	0.0	30.0%	43.0	58.0	1.0	42.2%
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%	95.0	0.0	7.0	93.1%
Total Gains per Share	3.0	1.0	0.0	75.0%	7.0	5.0	0.0	58.3%	14.0	6.0	0.0	70.0%	33.0	7.0	0.0	82.5%	88.0	14.0	0.0	86.3%

Fundamentals of Ventas Inc

About Ventas Inc

https://www.ventasreit.com
486
353 North Clark Street, Chicago, IL, United States, 60654-4708
Google Maps Bing Maps

Ventas Inc. (NYSE: VTR) is a leading S&P 500 real estate investment trust focused on delivering strong, sustainable shareholder returns by enabling exceptional environments that benefit a large and growing aging population. The Company's growth is fueled by its senior housing communities, which provide valuable services to residents and enable them to thrive in supported environments. Ventas leverages its unmatched operational expertise, data-driven insights from its Ventas Operational InsightsTM platform, extensive relationships and strong financial position to achieve its goal of delivering outsized performance across approximately 1,400 properties. The Ventas portfolio is composed of senior housing communities, outpatient medical buildings, research centers and healthcare facilities in North America and the United Kingdom. The Company benefits from a seasoned team of talented professionals who share a commitment to excellence, integrity and a common purpose of helping people live longer, healthier, happier lives.

Fundamental data was last updated by Penke on 2024-04-09 09:33:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is not making a profit/loss.
Using its assets, the company is very inefficient in making profit.
Using its investors money, the company is very inefficient in making profit.

Operating Efficiency Details

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

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

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

Valuation

Valuation Details

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

1.1. Profitability of Ventas Inc.

1.1. Profitability

1.1.1. Net Profit Margin

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

Above 10% is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
A Net Profit Margin of -7.8% means that $-0.08 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Ventas Inc:

The MRQ is -7.8%. The company is making a loss. -1
The TTM is -0.8%. The company is not making a profit/loss.

Trends

Current period		Compared to		+/-
MRQ	-7.8%	TTM	-0.8%	-7.0%
TTM	-0.8%	YOY	-1.0%	+0.3%
TTM	-0.8%	5Y	4.4%	-5.1%
5Y	4.4%	10Y	11.7%	-7.3%

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

Revenue is the amount of profit Ventas Inc 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 Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities industry mean.
Can be used to compare companies within the REIT - Healthcare Facilities industry.

You typically want a high profit margin. This means that for each $1 in sales, Ventas Inc makes more profit. This shows the investor how efficiently Ventas Inc is operating in general and compared to other companies in the same industry. Ventas Inc operates in the REIT - Healthcare Facilities industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Ventas Inc. If profit margins remain low (compared to the REIT - Healthcare Facilities 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 Ventas Inc is -0.08. This means that Ventas Inc earned $-0.08 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 REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc with other companies in the same industry (REIT - Healthcare Facilities).
Net profit margin should rise over the years.
Can be influenced when Ventas Inc sells assets (profit will increase while costs remain the same).
It won’t show what part of Ventas Inc 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 Ventas Inc

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 Ventas Inc = -90,819
Total revenue MRQ Ventas Inc = 1,164,392
$-90,819 / $1,164,392 = -0.08 or -7.8%

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 Ventas Inc is using its assets to generate profit.

Above 5% is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
-0.4% Return on Assets means that Ventas Inc generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Ventas Inc:

The MRQ is -0.4%. Using its assets, the company is very inefficient in making profit. -2
The TTM is 0.0%. Using its assets, the company is very inefficient in making profit. -2

Trends

Current period		Compared to		+/-
MRQ	-0.4%	TTM	0.0%	-0.3%
TTM	0.0%	YOY	0.0%	+0.0%
TTM	0.0%	5Y	0.2%	-0.2%
5Y	0.2%	10Y	0.4%	-0.3%

Shows how efficient Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities 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 Ventas Inc is using its resources to generate profit. If the return on assets (-0.4%) from Ventas Inc are higher than the REIT - Healthcare Facilities mean () that means Ventas Inc 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 Ventas Inc is -0.4%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

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

Income statement
Balance sheet

Net income MRQ (income statement) from Ventas Inc = -90,819
Total assets MRQ (balance sheet) from Ventas Inc = 24,725,433
-90,819 / 24,725,433 = 0.00 or -0.4%

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

Above 15%-20% is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
-1.0% Return on Equity means Ventas Inc generated $-0.01 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Ventas Inc:

The MRQ is -1.0%. Using its investors money, the company is very inefficient in making profit. -2
The TTM is -0.1%. Using its investors money, the company is very inefficient in making profit. -2

Trends

Current period		Compared to		+/-
MRQ	-1.0%	TTM	-0.1%	-0.8%
TTM	-0.1%	YOY	-0.1%	0.0%
TTM	-0.1%	5Y	0.4%	-0.5%
5Y	0.4%	10Y	1.0%	-0.6%

Shows how efficient Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities 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 REIT - Healthcare Facilities 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 Ventas Inc is -1.0%. This means Ventas Inc generated $-0.01 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc up to 10 years back (depending if Ventas Inc 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 Ventas Inc

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Ventas Inc = -90,819
Shareholders equity (balance sheet) MRQ Ventas Inc = 9,488,058
-90,819 / 9,488,058 = -0.01 or -1.0%

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 Ventas Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Ventas Inc is operating .

Measures how much profit Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities industry mean.
An Operating Margin of -58.8% means the company generated $-0.59 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Ventas Inc:

The MRQ is -58.8%. The company is operating very inefficient. -2
The TTM is -4.7%. The company is operating very inefficient. -2

Trends

Current period		Compared to		+/-
MRQ	-58.8%	TTM	-4.7%	-54.1%
TTM	-4.7%	YOY	11.0%	-15.7%
TTM	-4.7%	5Y	10.9%	-15.6%
5Y	10.9%	10Y	19.0%	-8.1%

Measures how efficient Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities 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 Ventas Inc 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 Ventas Inc is -58.8%. This means that Ventas Inc earned $-0.59 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Ventas Inc = -684,946
Total revenue MRQ Ventas Inc = 1,164,392
$-684,946 / $1,164,392 = -0.59 or -58.8%

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

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

Operation earnings can be calculated in multiple ways:

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

1.2.2. Operating Ratio

Measures how efficient Ventas Inc is keeping operating costs low.

Below 1 is considered healthy (always compare to REIT - Healthcare Facilities industry mean).
An Operation Ratio of 1.59 means that the operating costs are $1.59 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Ventas Inc:

The MRQ is 1.588. The company is inefficient in keeping operating costs low. -1
The TTM is 0.918. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	1.588	TTM	0.918	+0.670
TTM	0.918	YOY	0.883	+0.035
TTM	0.918	5Y	0.863	+0.055
5Y	0.863	10Y	0.790	+0.073

Measures how efficient Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities 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 Ventas Inc is 158.8%. This means that Ventas Inc earned $1.59 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 REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

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
(1,835,267 +14,071) \ 1,164,392 = 1.59

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 Ventas Inc.

1.3. Liquidity

1.3.1. Current Ratio

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

Above 1.5 is considered healthy (always compare to REIT - Healthcare Facilities industry mean).
A Current Ratio of 0.73 means the company has $0.73 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Ventas Inc:

The MRQ is 0.734. The company is unable to pay all its short-term debts. -2
The TTM is 0.516. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.734	TTM	0.516	+0.218
TTM	0.516	YOY	0.645	-0.129
TTM	0.516	5Y	0.749	-0.233
5Y	0.749	10Y	0.881	-0.132

Measures if Ventas Inc 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 REIT - Healthcare Facilities 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 Ventas Inc 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 Ventas Inc is 0.73. This means Ventas Inc has $0.73 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
868,197 \ 1,182,268) = 0.73

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

Above 1 is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
A Quick Ratio of 0.64 means the company can pay off $0.64 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Ventas Inc:

The MRQ is 0.641. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.436. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.641	TTM	0.436	+0.204
TTM	0.436	YOY	0.993	-0.557
TTM	0.436	5Y	0.853	-0.417
5Y	0.853	10Y	0.886	-0.033

Measures if Ventas Inc is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Ventas Inc can pay off its short term debts. This shows if Ventas Inc can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Ventas Inc is 0.64. This means that Ventas Inc can pay off $0.64 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

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

How to calculate quick ratio

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

Real life example Ventas Inc

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Ventas Inc: (563,462 + 0 +194,108) / 1,182,268 = 0.64

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

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

1.4. Solvency of Ventas Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Ventas Inc assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Ventas Inc to REIT - Healthcare Facilities industry mean.
A Debt to Asset Ratio of 0.60 means that Ventas Inc assets are financed with 60.2% credit (debt) and the remaining percentage (100% - 60.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Ventas Inc:

The MRQ is 0.602. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.589. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.602	TTM	0.589	+0.013
TTM	0.589	YOY	0.568	+0.020
TTM	0.589	5Y	0.571	+0.018
5Y	0.571	10Y	0.563	+0.008

Measures how much % of Ventas Inc assets are financed with debt.

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

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Ventas Inc to REIT - Healthcare Facilities 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 Ventas Inc is 0.60. This means means that Ventas Inc is financed with 60.2% 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 REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Ventas Inc

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

Balance sheet
Debt to asset ratio = total debt \ total assets
14,878,392 \ 24,725,433 = 60.2% or 0.60.

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

Below 2 is considered healthy but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
A Debt to Equity ratio of 156.8% means that company has $1.57 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Ventas Inc:

The MRQ is 1.568. The company is just able to pay all its debts with equity.
The TTM is 1.482. The company is able to pay all its debts with equity. +1

Trends

Current period		Compared to		+/-
MRQ	1.568	TTM	1.482	+0.086
TTM	1.482	YOY	1.336	+0.146
TTM	1.482	5Y	1.355	+0.127
5Y	1.355	10Y	1.305	+0.050

Measures if Ventas Inc 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 Ventas Inc 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 Ventas Inc is 1.57. This means that Ventas Inc can pay off $1.57 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
14,878,392 \ 9,488,058 = 1.57 or 156.8%

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 Ventas Inc

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 Ventas Inc generates.

Above 15 is considered overpriced but always compare Ventas Inc to the REIT - Healthcare Facilities industry mean.
A PE ratio of -55.84 means the investor is paying $-55.84 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Ventas Inc:

The EOD is -47.769. Based on the earnings, the company is expensive. -2
The MRQ is -55.836. Based on the earnings, the company is expensive. -2
The TTM is 45.118. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	-47.769	MRQ	-55.836	+8.066
MRQ	-55.836	TTM	45.118	-100.954
TTM	45.118	YOY	792.033	-746.915
TTM	45.118	5Y	216.320	-171.202
5Y	216.320	10Y	135.190	+81.130

Measures how much money you pay for each share for every $1 in earnings Ventas Inc 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 Ventas Inc to the REIT - Healthcare Facilities 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 Ventas Inc is -55.84. This means the investor is paying $-55.84 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the REIT - Healthcare Facilities industry is .
What is the trend?
The trend is important because it shows you how Ventas Inc is performing over time. The most recent quarter might be important if Ventas Inc 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 Ventas Inc 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 Ventas Inc

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 \ 406,977 = EPS
PE ratio MRQ = -55.84

* 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 Ventas Inc:

The EOD is 24.097. Based on how much money comes from the company's main activities, the company is underpriced. +1
The MRQ is 28.166. Based on how much money comes from the company's main activities, the company is underpriced. +1
The TTM is 25.547. Based on how much money comes from the company's main activities, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	24.097	MRQ	28.166	-4.069
MRQ	28.166	TTM	25.547	+2.618
TTM	25.547	YOY	32.307	-6.760
TTM	25.547	5Y	29.368	-3.820
5Y	29.368	10Y	26.071	+3.296

2. Book Value per Share

2.3. Price to Book Ratio

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

At or below 1 is considered healthy (always compare to REIT - Healthcare Facilities industry mean).
A PB ratio of 2.06 means the investor is paying $2.06 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Ventas Inc:

The EOD is 1.762. Based on the equity, the company is underpriced. +1
The MRQ is 2.060. Based on the equity, the company is underpriced. +1
The TTM is 1.822. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.762	MRQ	2.060	-0.298
MRQ	2.060	TTM	1.822	+0.237
TTM	1.822	YOY	1.893	-0.070
TTM	1.822	5Y	1.960	-0.138
5Y	1.960	10Y	2.146	-0.186

2. Total Gains per Share

3. Holders & Insider Transactions

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

3.1. Institutions holding Ventas Inc

Institutions are holding 96.52% of the shares of Ventas Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Vanguard Group Inc	15.8994	0.0697	63988891	-493859	-0.7659
2023-12-31	BlackRock Inc	10.4198	0.0533	41935881	-256372	-0.6076
2023-12-31	State Street Corporation	7.0828	0.0697	28505439	467452	1.6672
2023-12-31	FMR Inc	5.7267	0.0882	23047622	801170	3.6013
2023-12-31	JPMorgan Chase & Co	4.9756	0.0959	20024788	-3731192	-15.7063
2023-12-31	Principal Financial Group Inc	4.9229	0.6296	19812595	120614	0.6125
2023-12-31	Apg Investments Us Inc	4.2433	5.2175	17077561	0	0
2023-12-31	Geode Capital Management, LLC	2.3945	0.0501	9636989	192516	2.0384
2023-12-31	Goldman Sachs Group Inc	1.761	0.0317	7087420	2995214	73.1931
2023-12-31	CenterSquare Investment Management LLC	1.7403	3.9021	7003850	363153	5.4686
2023-12-31	Legal & General Group PLC	1.58	0.0813	6358972	783449	14.0516
2023-12-31	Dimensional Fund Advisors, Inc.	1.457	0.0853	5864001	19643	0.3361
2023-12-31	T. Rowe Price Associates, Inc.	1.2611	0.034	5075595	408882	8.7617
2023-12-31	NORGES BANK	1.1542	0.0405	4645101	521370	12.6432
2023-12-31	Charles Schwab Investment Management Inc	1.1135	0.0567	4481514	96716	2.2057
2023-12-31	Morgan Stanley - Brokerage Accounts	1.1025	0.0195	4436999	-26884	-0.6023
2023-12-31	Resolution Capital Limited	1.0667	3.8807	4292911	2458186	133.9812
2023-12-31	Northern Trust Corp	1.0184	0.037	4098790	-1222685	-22.9764
2023-12-31	Deutsche Bank AG	0.9802	0.1003	3944840	726285	22.5656
2023-12-31	UBS Asset Mgmt Americas Inc	0.9623	0.0759	3872770	243711	6.7155
Total		70.8622	14.619	285192529	+4467369	+1.6%

3.2. Funds holding Ventas Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Real Estate Index Investor	4.0801	1.0872	16420981	26284	0.1603
2024-02-29	Vanguard Total Stock Mkt Idx Inv	3.1395	0.0345	12635163	-28075	-0.2217
2024-02-29	Vanguard Institutional 500 Index Trust	2.4968	0.0397	10048550	107287	1.0792
2024-02-29	Vanguard Mid Cap Index Institutional	2.2342	0.2375	8991728	-23471	-0.2603
2023-09-15	Fidelity US REIT Mother Fund	1.7969	5.9054	7231670	957400	15.2591
2024-01-31	Principal Real Estate Securities R5	1.6482	5.3188	6633412	0	0
2024-01-31	Fidelity 500 Index	1.187	0.0458	4777376	48895	1.0341
2024-02-29	SPDR® S&P 500 ETF Trust	1.171	0.0397	4712981	29636	0.6328
2024-02-29	iShares Core S&P 500 ETF	1.0402	0.0397	4186288	12720	0.3048
2023-12-31	JPM US Equity Income-Composite	0.966	0.4184	3887726	-167532	-4.1312
2024-01-31	JPMorgan Equity Income I	0.9302	0.3831	3743803	-143923	-3.702
2024-02-29	Vanguard Value Index Inv	0.8359	0.0877	3364144	11583	0.3455
2024-01-31	Fidelity Real Estate Investment Port	0.8251	5.9367	3320654	20500	0.6212
2024-02-29	Vanguard Mid-Cap Value ETF	0.7383	0.4482	2971217	-84960	-2.7799
2024-02-29	iShares Envir&Lw Carb Tilt REIdx(UK)LAcc	0.7101	1.5452	2858074	51154	1.8224
2024-02-29	Vanguard Institutional Index I	0.6578	0.0396	2647348	-15467	-0.5809
2024-02-29	Vanguard Real Estate II Index	0.6332	1.252	2548489	-7736	-0.3026
2024-02-29	Real Estate Select Sector SPDR®	0.5966	1.7154	2401057	-3180	-0.1323
2024-01-31	DFA Real Estate Securities I	0.5754	1.5343	2315847	-23614	-1.0094
2023-12-31	T. Rowe Price Real Assets Tr I-Z	0.524	0.9142	2108956	210992	11.1168
Total		26.7865	27.0231	107805464	+978493	+0.9%

3.3. Insider Transactions

Insiders are holding 0.583% of the shares of Ventas Inc.

Date	Owner	Type	Amount	Price	Post Transaction Amount	Link
2023-05-26	Walter C Rakowich	SELL	1242	42.57

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Ventas Inc 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	-	-	-0.899	-0.276	-69%	-0.448	-50%	-0.061	-93%	0.054	-1766%
Book Value Per Share	-	-	24.196	25.083	-4%	26.178	-8%	25.883	-7%	25.432	-5%
Current Ratio	-	-	0.734	0.516	+42%	0.645	+14%	0.749	-2%	0.881	-17%
Debt To Asset Ratio	-	-	0.602	0.589	+2%	0.568	+6%	0.571	+5%	0.563	+7%
Debt To Equity Ratio	-	-	1.568	1.482	+6%	1.336	+17%	1.355	+16%	1.305	+20%
Dividend Per Share	-	-	0.446	0.447	0%	0.446	0%	0.522	-15%	0.613	-27%
Eps	-	-	-0.223	-0.025	-89%	-0.029	-87%	0.103	-316%	0.255	-188%
Free Cash Flow Per Share	-	-	0.442	0.488	-9%	0.412	+7%	0.476	-7%	0.564	-21%
Free Cash Flow To Equity Per Share	-	-	0.014	0.145	-91%	0.236	-94%	0.162	-92%	0.373	-96%
Gross Profit Margin	-	-	1.000	1.000	0%	1.248	-20%	1.127	-11%	1.064	-6%
Intrinsic Value_10Y_max	-	-	20.450	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	8.267	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.228	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.553	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	6.557	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	4.067	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	10.723	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	5.904	-	-	-	-	-	-	-	-
Market Cap	17228649018.880	-18%	20283733680.000	18481172114.040	+10%	20041840125.680	+1%	20515379788.296	-1%	21997885893.705	-8%
Net Profit Margin	-	-	-0.078	-0.008	-90%	-0.010	-87%	0.044	-279%	0.117	-167%
Operating Margin	-	-	-0.588	-0.047	-92%	0.110	-634%	0.109	-638%	0.190	-409%
Operating Ratio	-	-	1.588	0.918	+73%	0.883	+80%	0.863	+84%	0.790	+101%
Pb Ratio	1.762	-17%	2.060	1.822	+13%	1.893	+9%	1.960	+5%	2.146	-4%
Pe Ratio	-47.769	+14%	-55.836	45.118	-224%	792.033	-107%	216.320	-126%	135.190	-141%
Price Per Share	42.640	-17%	49.840	45.648	+9%	49.603	+0%	50.756	-2%	54.434	-8%
Price To Free Cash Flow Ratio	24.097	-17%	28.166	25.547	+10%	32.307	-13%	29.368	-4%	26.071	+8%
Price To Total Gains Ratio	-94.003	+14%	-109.876	214.406	-151%	-332.618	+203%	150.720	-173%	135.222	-181%
Quick Ratio	-	-	0.641	0.436	+47%	0.993	-35%	0.853	-25%	0.886	-28%
Return On Assets	-	-	-0.004	0.000	-89%	0.000	-88%	0.002	-318%	0.004	-182%
Return On Equity	-	-	-0.010	-0.001	-88%	-0.001	-89%	0.004	-345%	0.010	-195%
Total Gains Per Share	-	-	-0.454	0.171	-365%	-0.002	-99%	0.460	-199%	0.667	-168%
Usd Book Value	-	-	9847041000.000	10152784250.000	-3%	10577117000.000	-7%	10461698750.000	-6%	10277404300.000	-4%
Usd Book Value Change Per Share	-	-	-0.899	-0.276	-69%	-0.448	-50%	-0.061	-93%	0.054	-1766%
Usd Book Value Per Share	-	-	24.196	25.083	-4%	26.178	-8%	25.883	-7%	25.432	-5%
Usd Dividend Per Share	-	-	0.446	0.447	0%	0.446	0%	0.522	-15%	0.613	-27%
Usd Eps	-	-	-0.223	-0.025	-89%	-0.029	-87%	0.103	-316%	0.255	-188%
Usd Free Cash Flow	-	-	180038000.000	197579750.000	-9%	166523500.000	+8%	192411250.000	-6%	227721450.000	-21%
Usd Free Cash Flow Per Share	-	-	0.442	0.488	-9%	0.412	+7%	0.476	-7%	0.564	-21%
Usd Free Cash Flow To Equity Per Share	-	-	0.014	0.145	-91%	0.236	-94%	0.162	-92%	0.373	-96%
Usd Market Cap	17228649018.880	-18%	20283733680.000	18481172114.040	+10%	20041840125.680	+1%	20515379788.296	-1%	21997885893.705	-8%
Usd Price Per Share	42.640	-17%	49.840	45.648	+9%	49.603	+0%	50.756	-2%	54.434	-8%
Usd Profit	-	-	-90819000.000	-10243250.000	-89%	-10697750.000	-88%	41957900.000	-316%	103698400.000	-188%
Usd Revenue	-	-	1164392000.000	1124456750.000	+4%	1032298250.000	+13%	1006156700.000	+16%	935164675.000	+25%
Usd Total Gains Per Share	-	-	-0.454	0.171	-365%	-0.002	-99%	0.460	-199%	0.667	-168%
	EOD	+4 -4	MRQ	TTM	+7 -28	YOY	+11 -25	5Y	+4 -32	10Y	+4 -32

4.2. Fundamental Score

Let's check the fundamental score of Ventas Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	-47.769
Price to Book Ratio (EOD)	Between	0-1	1.762
Net Profit Margin (MRQ)	Greater than	0	-0.078
Operating Margin (MRQ)	Greater than	0	-0.588
Quick Ratio (MRQ)	Greater than	1	0.641
Current Ratio (MRQ)	Greater than	1	0.734
Debt to Asset Ratio (MRQ)	Less than	1	0.602
Debt to Equity Ratio (MRQ)	Less than	1	1.568
Return on Equity (MRQ)	Greater than	0.15	-0.010
Return on Assets (MRQ)	Greater than	0.05	-0.004
Total			1/10 (10.0%)

Create your own Stock Scanner

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

Let's check the technical score of Ventas Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	48.149
Ma 20	Greater than	Ma 50	42.823
Ma 50	Greater than	Ma 100	43.141
Ma 100	Greater than	Ma 200	45.173
Open	Greater than	Close	42.340
Total			1/5 (20.0%)

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

Reversals in quarterly reports

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

	2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Long-term Assets Other	20,113,776	77,036	20,190,812	2,417,304	22,608,116	-350,175	22,257,941	-23,120,711	-862,770
Gross Profit	459,886	7,722	467,608	14,496	482,104	655,073	1,137,177	-1,808,052	-670,875
EBIT	85,898	49,472	135,370	98,051	233,421	-159,697	73,724	-758,670	-684,946
Tax Provision	-2,619	-183	-2,802	-6,971	-9,773	8,111	-1,662	6,360	4,698
Income Tax Expense	-2,619	-183	-2,802	-6,971	-9,773	8,111	-1,662	6,360	4,698

Latest Balance Sheet

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

Summary

Total Assets	24,725,433
Total Liabilities	14,878,392
Total Stockholder Equity	9,488,058

	As reported
Total Liabilities	14,878,392
Total Stockholder Equity	+ 9,488,058
Total Assets	= 24,725,433

Assets

Total Assets	24,725,433
Total Current Assets	868,197
Long-term Assets	23,857,236

Total Current Assets

Total Current Assets (as reported)	868,197
Cash And Cash Equivalents	563,462
Net Receivables	194,108
Total Current Assets (calculated)	757,570
+/-	110,627

Long-term Assets

Long-term Assets (as reported)	23,857,236
Property Plant Equipment	21,461,765
Goodwill	1,045,176
Long Term Investments	678,518
Intangible Assets	1,453,730
Long-term Assets Other	-862,770
Long-term Assets (calculated)	23,776,419
+/-	80,817

Liabilities & Shareholders' Equity

Total Current Liabilities	1,182,268
Long-term Liabilities	13,998,760
Total Stockholder Equity	9,488,058

Total Current Liabilities

Total Current Liabilities (as reported)	1,182,268
Short-term Debt	1,264,182
Short Long Term Debt	14,006
Accounts payable	1,041,616
Other Current Liabilities	9,243
Total Current Liabilities (calculated)	2,329,047
+/-	1,146,779

Long-term Liabilities

Long-term Liabilities (as reported)	13,998,760
Long term Debt	13,476,890
Capital Lease Obligations	194,734
Long-term Liabilities (calculated)	13,671,624
+/-	327,136

Total Stockholder Equity

Total Stockholder Equity (as reported)	9,488,058
Common Stock	100,648
Retained Earnings	-6,213,803
Accumulated Other Comprehensive Income	-57,852
Other Stockholders Equity	15,659,065
Total Stockholder Equity (calculated)	9,488,058
+/-	0

Other

Capital Stock	100,648
Cash and Short Term Investments	563,462
Common Stock Shares Outstanding	406,977
Current Deferred Revenue	-1,132,773
Liabilities and Stockholders Equity	24,725,433
Net Debt	13,204,133
Net Invested Capital	22,978,954
Net Working Capital	-314,071
Short Long Term Debt Total	13,767,595

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

> Total Assets

962,000
960,000
960,000
999,500
1,018,200
1,052,000
1,071,199
1,024,288
1,034,266
1,005,951
981,145
981,145
901,133
962,782
941,859
891,632
880,869
857,243
895,780
878,094
800,602
774,400
812,850
1,007,319
1,073,003
1,091,345
1,126,935
1,174,198
2,625,455
2,658,130
2,639,118
2,661,604
2,660,972
2,808,415
3,253,800
3,286,167
5,671,453
5,661,620
5,716,628
5,651,788
5,717,061
5,814,848
5,769,984
5,593,846
5,570,861
5,587,310
5,616,245
5,633,825
5,462,117
5,800,817
5,758,021
5,694,098
4,605,030
17,205,770
17,271,910
17,188,959
18,222,261
18,440,899
18,980,000
18,706,921
18,796,582
19,879,358
19,731,494
19,702,768
19,790,786
20,651,165
21,226,171
24,439,871
24,275,162
22,413,977
22,261,918
22,261,292
22,093,472
23,426,264
23,166,600
23,919,331
23,855,758
23,739,795
23,954,541
23,493,510
22,699,134
22,597,953
22,584,555
22,668,097
22,988,911
24,803,553
24,692,208
26,617,828
24,589,388
24,220,483
23,929,404
23,552,263
23,504,314
25,044,424
24,717,786
24,950,107
24,628,155
24,300,411
24,157,840
23,994,168
25,070,862
24,966,609
24,725,433

24,725,433

24,966,609

25,070,862

23,994,168

24,157,840

24,300,411

24,628,155

24,950,107

24,717,786

25,044,424

23,504,314

23,552,263

23,929,404

24,220,483

24,589,388

26,617,828

24,692,208

24,803,553

22,988,911

22,668,097

22,584,555

22,597,953

22,699,134

23,493,510

23,954,541

23,739,795

23,855,758

23,919,331

23,166,600

23,426,264

22,093,472

22,261,292

22,261,918

22,413,977

24,275,162

24,439,871

21,226,171

20,651,165

19,790,786

19,702,768

19,731,494

19,879,358

18,796,582

18,706,921

18,980,000

18,440,899

18,222,261

17,188,959

17,271,910

17,205,770

4,605,030

5,694,098

5,758,021

5,800,817

5,462,117

5,633,825

5,616,245

5,587,310

5,570,861

5,593,846

5,769,984

5,814,848

5,717,061

5,651,788

5,716,628

5,661,620

5,671,453

3,286,167

3,253,800

2,808,415

2,660,972

2,661,604

2,639,118

2,658,130

2,625,455

1,174,198

1,126,935

1,091,345

1,073,003

1,007,319

812,850

774,400

800,602

878,094

895,780

857,243

880,869

891,632

941,859

962,782

901,133

981,145

1,005,951

1,034,266

1,024,288

1,071,199

1,052,000

1,018,200

999,500

960,000

962,000

> Total Current Assets

0
4,000
7,000
58,000
70,000
120,000
143,205
125,277
119,118
99,524
0
90,823
26,927
27,416
94,435
57,540
3,336
4,121
116,385
3,083
9,173
10,095
137,366
1,723
8,880
3,805
149,958
1,779
802
5,764
223,764
1,466
1,932
1,935
238,867
80,039
30,138
28,573
82,411
51,347
29,268
159,764
232,678
95,806
46,523
167,366
147,229
414,716
302,657
75,775
60,752
77,298
60,224
142,265
122,397
167,644
167,686
135,438
808,823
897,918
875,222
830,347
555,702
511,975
1,033,647
930,311
1,355,307
1,487,172
1,043,900
1,286,004
1,338,081
1,451,989
1,593,531
1,487,425
1,124,336
1,948,572
1,966,553
1,899,928
1,962,372
1,438,635
1,192,839
995,416
632,787
642,553
1,389,866
1,486,195
942,147
4,095,418
1,792,784
1,700,863
1,066,815
1,332,862
1,406,270
1,043,730
755,122
756,066
737,429
1,030,913
752,713
716,518
259,123
562,760
868,197

868,197

562,760

259,123

716,518

752,713

1,030,913

737,429

756,066

755,122

1,043,730

1,406,270

1,332,862

1,066,815

1,700,863

1,792,784

4,095,418

942,147

1,486,195

1,389,866

642,553

632,787

995,416

1,192,839

1,438,635

1,962,372

1,899,928

1,966,553

1,948,572

1,124,336

1,487,425

1,593,531

1,451,989

1,338,081

1,286,004

1,043,900

1,487,172

1,355,307

930,311

1,033,647

511,975

555,702

830,347

875,222

897,918

808,823

135,438

167,686

167,644

122,397

142,265

60,224

77,298

60,752

75,775

302,657

414,716

147,229

167,366

46,523

95,806

232,678

159,764

29,268

51,347

82,411

28,573

30,138

80,039

238,867

1,935

1,932

1,466

223,764

5,764

802

1,779

149,958

3,805

8,880

1,723

137,366

10,095

9,173

3,083

116,385

4,121

3,336

57,540

94,435

27,416

26,927

90,823

99,524

119,118

125,277

143,205

120,000

70,000

58,000

7,000

4,000

Cash And Cash Equivalents

0
2,000
0
58,000
70,000
120,000
139,594
121,648
115,648
96,138
87,401
87,401
23,384
23,827
18,596
9,281
3,336
4,121
2,455
3,083
9,173
10,095
82,104
1,723
8,880
3,805
3,365
1,779
802
5,764
1,641
1,466
1,932
2,000
1,246
0
30,138
28,573
28,334
51,347
29,268
115,923
176,812
95,806
46,523
70,889
107,397
132,729
27,794
33,790
21,812
41,899
47,513
57,482
45,807
53,224
52,803
58,530
67,908
57,690
62,421
54,672
94,816
59,791
86,635
64,595
55,348
120,225
60,532
65,231
53,023
51,701
57,322
89,279
286,707
91,284
103,353
85,063
81,355
92,543
93,684
86,107
72,277
82,514
81,987
148,063
106,363
2,848,115
992,824
588,343
413,327
169,661
233,837
143,770
149,725
149,599
127,073
145,146
122,564
145,357
138,648
433,937
563,462

563,462

433,937

138,648

145,357

122,564

145,146

127,073

149,599

149,725

143,770

233,837

169,661

413,327

588,343

992,824

2,848,115

106,363

148,063

81,987

82,514

72,277

86,107

93,684

92,543

81,355

85,063

103,353

91,284

286,707

89,279

57,322

51,701

53,023

65,231

60,532

120,225

55,348

64,595

86,635

59,791

94,816

54,672

62,421

57,690

67,908

58,530

52,803

53,224

45,807

57,482

47,513

41,899

21,812

33,790

27,794

132,729

107,397

70,889

46,523

95,806

176,812

115,923

29,268

51,347

28,334

28,573

30,138

1,246

2,000

1,932

1,466

1,641

5,764

802

1,779

3,365

3,805

8,880

1,723

82,104

10,095

9,173

3,083

2,455

4,121

3,336

9,281

18,596

23,827

23,384

87,401

96,138

115,648

121,648

139,594

120,000

70,000

58,000

2,000

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
72,204
43,751
42,727
34,098
16,713
10,414
13,875
0
7,575
0
0
0
25,710
0
0
0
59,667
0
0
0
80,039
80,039
99,058
89,807
54,077
52,621
40,038
43,841
55,866
38,275
94,470
96,477
39,832
41,023
43,484
41,985
38,940
35,399
64,261
84,783
76,590
114,420
114,883
76,908
5,400
99,225
94,492
98,200
84,657
76,110
60,962
62,603
63,115
63,322
63,225
63,704
63,679
64,082
64,390
64,556
55,049
55,244
55,518
54,478
54,665
54,881
263,681
61,237
56,378
56,882
286,409
283,970
237,360
245,494
220,630
280,137
237,553
276,951
255,962
41,440
530,126
530,388
529,630
529,317
537,075
0
0
0
0

537,075

529,317

529,630

530,388

530,126

41,440

255,962

276,951

237,553

280,137

220,630

245,494

237,360

283,970

286,409

56,882

56,378

61,237

263,681

54,881

54,665

54,478

55,518

55,244

55,049

64,556

64,390

64,082

63,679

63,704

63,225

63,322

63,115

62,603

60,962

76,110

84,657

98,200

94,492

99,225

5,400

76,908

114,883

114,420

76,590

84,783

64,261

35,399

38,940

41,985

43,484

41,023

39,832

96,477

94,470

38,275

55,866

43,841

40,038

52,621

54,077

89,807

99,058

80,039

59,667

25,710

7,575

13,875

10,414

16,713

34,098

42,727

43,751

72,204

Net Receivables

0
2,000
7,000
0
0
0
3,611
3,629
3,470
3,386
3,422
3,422
3,543
3,589
3,635
4,508
4,170
4,186
4,139
4,158
3,803
3,822
3,772
3,609
3,251
3,269
3,216
3,234
97,020
52,588
2,841
35,870
35,800
192,578
2,466
35,554
34,792
35,556
2,092
19,945
118,565
113,606
123,289
130,076
125,106
125,410
131,887
147,725
140,870
164,829
149,263
130,608
9,595
302,264
0
222,218
213,193
215,775
635,002
618,319
605,116
542,377
376,229
376,074
519,951
524,017
954,610
905,628
789,408
913,647
1,050,423
1,205,233
1,210,922
1,048,817
702,021
1,647,886
1,649,770
1,614,939
1,619,130
1,212,519
755,488
761,452
495,869
496,344
963,407
989,109
704,612
888,626
681,831
776,488
605,567
785,839
785,538
530,439
530,126
530,388
529,630
735,825
537,075
501,004
27,749
27,823
194,108

194,108

27,823

27,749

501,004

537,075

735,825

529,630

530,388

530,126

530,439

785,538

785,839

605,567

776,488

681,831

888,626

704,612

989,109

963,407

496,344

495,869

761,452

755,488

1,212,519

1,619,130

1,614,939

1,649,770

1,647,886

702,021

1,048,817

1,210,922

1,205,233

1,050,423

913,647

789,408

905,628

954,610

524,017

519,951

376,074

376,229

542,377

605,116

618,319

635,002

215,775

213,193

222,218

302,264

9,595

130,608

149,263

164,829

140,870

147,725

131,887

125,410

125,106

130,076

123,289

113,606

118,565

19,945

2,092

35,556

34,792

35,554

2,466

192,578

35,800

35,870

2,841

52,588

97,020

3,234

3,216

3,269

3,251

3,609

3,772

3,822

3,803

4,158

4,139

4,186

4,170

4,508

3,635

3,589

3,543

3,422

3,386

3,470

3,629

3,611

7,000

2,000

Other Current Assets

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-46,897
-38,284
93,078
-14,572
-17,678
-3,822
51,490
-3,609
-3,251
-3,269
143,377
-3,234
-97,020
0
219,282
0
0
-65
235,155
80,039
0
0
-2,092
0
0
43,841
55,866
0
0
96,477
39,832
213,000
206,488
41,985
38,940
35,399
54,666
84,783
76,590
114,420
114,883
76,908
217,469
221,909
207,685
233,298
239,997
199,625
366,099
279,096
282,234
397,997
300,040
243,422
170,956
130,973
260,897
284,773
135,608
154,158
157,912
145,448
207,222
133,573
79,986
86,620
64,641
63,695
58,063
65,053
131,172
113,183
118,129
55,895
47,921
100,411
130,933
369,521
-454,855
76,079
-448,904
149,942
-358,281
-385,916
-403,930
-683,883
-757,570

-757,570

-683,883

-403,930

-385,916

-358,281

149,942

-448,904

76,079

-454,855

369,521

130,933

100,411

47,921

55,895

118,129

113,183

131,172

65,053

58,063

63,695

64,641

86,620

79,986

133,573

207,222

145,448

157,912

154,158

135,608

284,773

260,897

130,973

170,956

243,422

300,040

397,997

282,234

279,096

366,099

199,625

239,997

233,298

207,685

221,909

217,469

76,908

114,883

114,420

76,590

84,783

54,666

35,399

38,940

41,985

206,488

213,000

39,832

96,477

55,866

43,841

-2,092

80,039

235,155

-65

219,282

-97,020

-3,234

143,377

-3,269

-3,251

-3,609

51,490

-3,822

-17,678

-14,572

93,078

-38,284

-46,897

> Long-term Assets

1,000
968,000
979,000
928,500
917,600
906,600
895,682
884,157
875,288
863,109
0
848,545
827,596
905,152
861,454
839,171
30,394
30,394
30,394
30,394
30,394
30,394
681,290
970,560
1,021,010
1,045,729
30,394
30,394
30,394
30,394
30,394
30,394
30,394
30,394
30,394
30,394
309,215
313,987
5,634,217
286,153
282,080
5,655,084
5,537,306
5,498,040
5,524,338
5,419,944
5,469,016
5,219,109
5,159,460
5,725,042
5,697,269
5,616,800
4,544,806
17,063,505
17,149,513
17,021,315
18,054,575
18,305,461
18,171,177
17,809,003
17,921,360
19,049,011
19,175,792
19,190,793
18,757,139
19,720,854
19,870,864
22,952,699
23,231,262
21,127,973
20,923,837
20,809,303
20,499,941
21,938,839
22,042,264
21,970,759
21,889,205
21,839,867
21,992,169
22,054,875
21,506,295
21,602,537
21,951,768
22,025,544
21,599,045
23,317,358
23,750,061
22,522,410
22,796,604
22,519,620
22,862,589
22,219,401
22,098,044
24,000,694
23,962,664
24,194,041
23,890,726
23,269,498
23,405,127
23,277,650
24,811,739
24,403,849
23,857,236

23,857,236

24,403,849

24,811,739

23,277,650

23,405,127

23,269,498

23,890,726

24,194,041

23,962,664

24,000,694

22,098,044

22,219,401

22,862,589

22,519,620

22,796,604

22,522,410

23,750,061

23,317,358

21,599,045

22,025,544

21,951,768

21,602,537

21,506,295

22,054,875

21,992,169

21,839,867

21,889,205

21,970,759

22,042,264

21,938,839

20,499,941

20,809,303

20,923,837

21,127,973

23,231,262

22,952,699

19,870,864

19,720,854

18,757,139

19,190,793

19,175,792

19,049,011

17,921,360

17,809,003

18,171,177

18,305,461

18,054,575

17,021,315

17,149,513

17,063,505

4,544,806

5,616,800

5,697,269

5,725,042

5,159,460

5,219,109

5,469,016

5,419,944

5,524,338

5,498,040

5,537,306

5,655,084

282,080

286,153

5,634,217

313,987

309,215

30,394

1,045,729

1,021,010

970,560

681,290

30,394

839,171

861,454

905,152

827,596

848,545

863,109

875,288

884,157

895,682

906,600

917,600

928,500

979,000

968,000

1,000

Property Plant Equipment

946,000
942,000
939,000
928,500
917,600
906,600
894,791
884,157
873,632
863,109
848,545
848,545
827,596
816,740
806,336
795,420
780,340
769,981
828,802
818,043
743,141
730,703
681,290
963,033
1,021,010
1,045,729
1,071,132
1,127,058
2,432,299
2,552,635
2,526,474
2,542,642
2,539,090
2,666,463
3,083,900
3,088,953
5,368,781
5,382,710
0
5,400,559
5,483,223
5,319,682
5,172,939
5,130,896
5,098,780
5,080,527
5,114,710
5,219,109
5,159,460
5,273,353
5,279,519
5,243,424
3,932,526
15,996,042
15,913,732
15,747,019
16,723,953
16,919,677
15,912,664
15,869,680
15,992,635
17,007,891
16,877,453
16,888,983
16,725,168
17,612,204
17,683,761
19,852,913
19,755,167
18,107,430
18,913,406
17,831,940
17,561,109
18,762,981
18,567,484
18,789,307
18,708,771
18,632,125
18,800,293
18,560,016
18,384,031
18,485,839
18,385,483
573,071
608,076
637,717
636,421
642,265
638,214
634,201
556,289
343,072
534,191
523,501
515,092
514,347
315,896
312,902
310,307
499,024
522,312
515,035
21,461,765

21,461,765

515,035

522,312

499,024

310,307

312,902

315,896

514,347

515,092

523,501

534,191

343,072

556,289

634,201

638,214

642,265

636,421

637,717

608,076

573,071

18,385,483

18,485,839

18,384,031

18,560,016

18,800,293

18,632,125

18,708,771

18,789,307

18,567,484

18,762,981

17,561,109

17,831,940

18,913,406

18,107,430

19,755,167

19,852,913

17,683,761

17,612,204

16,725,168

16,888,983

16,877,453

17,007,891

15,992,635

15,869,680

15,912,664

16,919,677

16,723,953

15,747,019

15,913,732

15,996,042

3,932,526

5,243,424

5,279,519

5,273,353

5,159,460

5,219,109

5,114,710

5,080,527

5,098,780

5,130,896

5,172,939

5,319,682

5,483,223

5,400,559

5,382,710

5,368,781

3,088,953

3,083,900

2,666,463

2,539,090

2,542,642

2,526,474

2,552,635

2,432,299

1,127,058

1,071,132

1,045,729

1,021,010

963,033

681,290

730,703

743,141

818,043

828,802

769,981

780,340

795,420

806,336

816,740

827,596

848,545

863,109

873,632

884,157

894,791

906,600

917,600

928,500

939,000

942,000

946,000

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
150,293
288,196
448,393
448,053
493,298
492,523
515,429
481,038
479,356
477,983
476,483
474,635
472,756
463,458
472,052
1,127,590
1,210,346
1,052,321
1,047,497
1,044,983
1,043,479
1,043,075
1,033,225
1,033,484
1,034,054
1,034,497
1,034,641
1,035,248
1,034,274
1,045,877
1,050,548
1,050,876
1,050,470
1,049,985
1,051,161
1,050,137
1,050,115
1,050,742
1,051,650
1,051,780
1,051,832
1,046,070
1,046,140
1,045,663
1,044,509
1,043,289
1,044,415
1,044,699
1,045,147
1,044,536
1,045,176

1,045,176

1,044,536

1,045,147

1,044,699

1,044,415

1,043,289

1,044,509

1,045,663

1,046,140

1,046,070

1,051,832

1,051,780

1,051,650

1,050,742

1,050,115

1,050,137

1,051,161

1,049,985

1,050,470

1,050,876

1,050,548

1,045,877

1,034,274

1,035,248

1,034,641

1,034,497

1,034,054

1,033,484

1,033,225

1,043,075

1,043,479

1,044,983

1,047,497

1,052,321

1,210,346

1,127,590

472,052

463,458

472,756

474,635

476,483

477,983

479,356

481,038

515,429

492,523

493,298

448,053

448,393

288,196

150,293

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
5,444,114
5,389,043
9,230,185
16,417,628
0
0
0
0
17,841,943
17,580,101
17,699,444
18,667,363
18,543,471
0
18,389,744
19,421,537
19,907,187
22,287,579
22,239,965
20,634,501
20,578,039
20,609,199
20,314,263
21,520,879
21,192,696
22,123,122
22,054,964
21,934,492
22,058,378
21,652,044
20,763,713
20,596,963
20,637,904
48,162
47,112
45,905
45,022
165,745
166,039
254,945
21,599,290
471,243
567,304
507,880
22,870,429
541,914
533,705
547,766
22,277,474
606,006
629,184
579,172
678,518

678,518

579,172

629,184

606,006

22,277,474

547,766

533,705

541,914

22,870,429

507,880

567,304

471,243

21,599,290

254,945

166,039

165,745

45,022

45,905

47,112

48,162

20,637,904

20,596,963

20,763,713

21,652,044

22,058,378

21,934,492

22,054,964

22,123,122

21,192,696

21,520,879

20,314,263

20,609,199

20,578,039

20,634,501

22,239,965

22,287,579

19,907,187

19,421,537

18,389,744

18,543,471

18,667,363

17,699,444

17,580,101

17,841,943

16,417,628

9,230,185

5,389,043

5,444,114

Intangible 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
9,000
9,000
9,000
8,700
16,700
15,800
15,211
143,356
146,813
147,381
150,293
821,613
462,655
799,136
920,116
965,500
981,704
984,023
990,548
1,012,163
1,010,181
1,014,711
1,009,474
1,039,949
1,039,651
1,300,654
1,308,052
1,359,306
1,357,646
1,355,198
1,342,909
1,532,174
1,510,629
1,539,849
1,541,311
1,543,318
1,544,491
1,532,223
1,516,614
1,512,073
1,502,955
1,279,490
1,272,723
1,340,177
1,306,152
1,246,602
1,240,488
1,251,060
1,230,886
1,216,808
1,205,004
1,372,462
1,369,747
1,373,364
1,361,671
1,348,068
1,346,190
926,220
1,498,639
1,469,998
1,453,730

1,453,730

1,469,998

1,498,639

926,220

1,346,190

1,348,068

1,361,671

1,373,364

1,369,747

1,372,462

1,205,004

1,216,808

1,230,886

1,251,060

1,240,488

1,246,602

1,306,152

1,340,177

1,272,723

1,279,490

1,502,955

1,512,073

1,516,614

1,532,223

1,544,491

1,543,318

1,541,311

1,539,849

1,510,629

1,532,174

1,342,909

1,355,198

1,357,646

1,359,306

1,308,052

1,300,654

1,039,651

1,039,949

1,009,474

1,014,711

1,010,181

1,012,163

990,548

984,023

981,704

965,500

920,116

799,136

462,655

821,613

150,293

147,381

146,813

143,356

15,211

15,800

16,700

8,700

9,000

Long-term Assets Other

-961,000
-958,000
-970,000
-928,500
-917,600
-906,600
-895,682
-884,157
-875,288
-863,109
0
-848,545
-827,596
-905,152
-861,454
-839,171
-823,067
-804,079
-845,515
-834,594
-764,911
-730,703
-681,290
-970,560
-1,021,010
-1,045,729
-1,071,132
-1,127,058
-2,432,299
-2,552,635
-2,526,474
-2,542,642
-2,539,090
-2,666,463
-3,083,900
-3,088,953
-5,368,781
-5,382,710
-137,386
-5,400,559
-5,483,223
78,877
106,868
111,574
170,383
84,795
100,641
-252,687
-251,829
39,938
14,272
-27,162
142,742
-148,324
1,130,478
97,666
34,804
64,176
921,685
118,883
118,075
211,074
946,335
943,671
155,844
129,555
163,145
127,260
1,712,421
160,050
18,422,987
145,708
106,463
158,250
518,364
162,083
144,785
173,421
189,275
580,102
166,129
211,359
759,185
18,868,889
18,417,092
20,039,933
20,663,810
19,324,558
19,701,444
19,377,337
19,570,089
19,059,231
18,728,227
20,539,285
20,497,068
20,707,601
20,623,793
19,945,460
20,113,776
20,190,812
22,608,116
22,257,941
-862,770

-862,770

22,257,941

22,608,116

20,190,812

20,113,776

19,945,460

20,623,793

20,707,601

20,497,068

20,539,285

18,728,227

19,059,231

19,570,089

19,377,337

19,701,444

19,324,558

20,663,810

20,039,933

18,417,092

18,868,889

759,185

211,359

166,129

580,102

189,275

173,421

144,785

162,083

518,364

158,250

106,463

145,708

18,422,987

160,050

1,712,421

127,260

163,145

129,555

155,844

943,671

946,335

211,074

118,075

118,883

921,685

64,176

34,804

97,666

1,130,478

-148,324

142,742

-27,162

14,272

39,938

-251,829

-252,687

100,641

84,795

170,383

111,574

106,868

78,877

-5,483,223

-5,400,559

-137,386

-5,382,710

-5,368,781

-3,088,953

-3,083,900

-2,666,463

-2,539,090

-2,542,642

-2,526,474

-2,552,635

-2,432,299

-1,127,058

-1,071,132

-1,045,729

-1,021,010

-970,560

-681,290

-730,703

-764,911

-834,594

-845,515

-804,079

-823,067

-839,171

-861,454

-905,152

-827,596

-848,545

-863,109

-875,288

-884,157

-895,682

-906,600

-917,600

-928,500

-970,000

-958,000

-961,000

> Total Liabilities

1,001,000
984,000
969,000
1,014,000
1,012,300
1,032,900
1,062,854
1,012,279
1,014,415
1,019,635
1,098,659
1,098,659
1,011,502
1,044,412
1,032,933
985,898
976,244
982,868
949,407
920,860
847,806
798,105
756,535
893,426
943,375
961,172
966,711
1,007,468
1,970,295
2,004,019
1,971,799
2,002,837
2,010,976
2,164,740
2,543,924
2,577,253
3,765,726
3,790,862
3,861,520
3,641,098
3,704,208
3,598,360
3,602,379
3,408,174
3,058,395
3,084,998
3,132,185
3,170,205
3,030,703
3,384,631
3,367,816
3,047,651
2,360,214
7,875,501
7,915,966
7,820,460
8,583,020
8,979,167
9,890,637
9,720,110
9,790,055
10,914,950
10,827,683
10,892,846
11,060,127
12,027,992
12,471,774
13,326,907
13,181,416
12,744,303
12,636,491
12,590,763
12,343,696
12,855,819
12,637,847
13,435,456
13,413,606
12,941,551
13,022,356
12,689,466
12,021,565
12,084,884
12,312,961
12,462,084
12,112,549
13,967,644
14,146,756
15,901,431
14,189,478
13,932,776
13,651,213
13,480,643
13,520,410
13,877,279
13,772,026
14,157,417
14,024,761
13,609,704
13,936,163
13,669,680
14,770,747
14,827,116
14,878,392

14,878,392

14,827,116

14,770,747

13,669,680

13,936,163

13,609,704

14,024,761

14,157,417

13,772,026

13,877,279

13,520,410

13,480,643

13,651,213

13,932,776

14,189,478

15,901,431

14,146,756

13,967,644

12,112,549

12,462,084

12,312,961

12,084,884

12,021,565

12,689,466

13,022,356

12,941,551

13,413,606

13,435,456

12,637,847

12,855,819

12,343,696

12,590,763

12,636,491

12,744,303

13,181,416

13,326,907

12,471,774

12,027,992

11,060,127

10,892,846

10,827,683

10,914,950

9,790,055

9,720,110

9,890,637

8,979,167

8,583,020

7,820,460

7,915,966

7,875,501

2,360,214

3,047,651

3,367,816

3,384,631

3,030,703

3,170,205

3,132,185

3,084,998

3,058,395

3,408,174

3,602,379

3,598,360

3,704,208

3,641,098

3,861,520

3,790,862

3,765,726

2,577,253

2,543,924

2,164,740

2,010,976

2,002,837

1,971,799

2,004,019

1,970,295

1,007,468

966,711

961,172

943,375

893,426

756,535

798,105

847,806

920,860

949,407

982,868

976,244

985,898

1,032,933

1,044,412

1,011,502

1,098,659

1,019,635

1,014,415

1,012,279

1,062,854

1,032,900

1,012,300

1,014,000

969,000

984,000

1,001,000

> Total Current Liabilities

23,000
22,000
38,000
37,000
36,000
58,000
89,000
89,000
91,000
97,000
213,000
213,000
162,000
194,000
185,000
154,000
168,000
197,000
241,000
171,000
128,000
119,000
116,000
111,000
91,000
107,000
124,000
129,000
137,000
193,000
169,000
148,000
128,000
158,000
215,000
207,000
507,000
550,000
203,431
516,000
484,000
206,485
197,186
210,203
186,916
210,606
208,419
472,034
449,854
489,084
467,772
476,283
572,576
1,469,543
1,384,013
1,390,096
1,378,293
1,370,485
1,042,721
1,133,512
1,197,790
1,529,312
1,055,864
999,181
1,211,377
1,259,711
1,986,428
1,545,875
1,103,990
1,038,305
1,075,267
1,142,428
1,116,793
1,310,906
993,152
1,197,013
1,543,088
1,588,232
1,876,412
1,272,357
1,567,067
1,804,730
1,185,902
1,146,420
1,871,130
2,712,803
1,262,278
4,274,147
1,121,646
1,540,817
1,247,756
1,618,602
1,492,854
1,253,353
1,207,706
1,181,571
1,173,225
1,574,580
1,148,723
1,105,392
1,185,337
1,214,811
1,182,268

1,182,268

1,214,811

1,185,337

1,105,392

1,148,723

1,574,580

1,173,225

1,181,571

1,207,706

1,253,353

1,492,854

1,618,602

1,247,756

1,540,817

1,121,646

4,274,147

1,262,278

2,712,803

1,871,130

1,146,420

1,185,902

1,804,730

1,567,067

1,272,357

1,876,412

1,588,232

1,543,088

1,197,013

993,152

1,310,906

1,116,793

1,142,428

1,075,267

1,038,305

1,103,990

1,545,875

1,986,428

1,259,711

1,211,377

999,181

1,055,864

1,529,312

1,197,790

1,133,512

1,042,721

1,370,485

1,378,293

1,390,096

1,384,013

1,469,543

572,576

476,283

467,772

489,084

449,854

472,034

208,419

210,606

186,916

210,203

197,186

206,485

484,000

516,000

203,431

550,000

507,000

207,000

215,000

158,000

128,000

148,000

169,000

193,000

137,000

129,000

124,000

107,000

91,000

111,000

116,000

119,000

128,000

171,000

241,000

197,000

168,000

154,000

185,000

194,000

162,000

213,000

97,000

91,000

89,000

58,000

36,000

37,000

38,000

22,000

23,000

Short-term Debt

0
0
0
0
0
0
400,000
0
0
0
0
0
0
0
0
0
0
0
0
47,499
-16,916
-16,309
0
0
0
0
-12,887
-12,298
-11,713
-11,126
-10,540
-9,953
0
0
-8,194
-7,607
-10,219
-9,665
0
-8,700
-8,050
0
0
0
5,305
-4,628
0
0
0
0
0
0
410,419
0
0
0
0
0
540,727
164,734
259,616
447,970
376,343
559,299
179,373
225,359
919,099
451,924
583,765
114,052
180,683
324,488
212,382
232,405
146,538
170,731
516,455
538,911
538,700
813,000
339,157
578,159
856,407
351,764
620,546
1,431,896
848,729
3,040,586
744,362
206,069
193,493
414,080
260,232
419,141
336,448
682,985
380,894
408,457
428,230
465,210
170,019
83,765
1,264,182

1,264,182

83,765

170,019

465,210

428,230

408,457

380,894

682,985

336,448

419,141

260,232

414,080

193,493

206,069

744,362

3,040,586

848,729

1,431,896

620,546

351,764

856,407

578,159

339,157

813,000

538,700

538,911

516,455

170,731

146,538

232,405

212,382

324,488

180,683

114,052

583,765

451,924

919,099

225,359

179,373

559,299

376,343

447,970

259,616

164,734

540,727

410,419

-4,628

5,305

-8,050

-8,700

-9,665

-10,219

-7,607

-8,194

-9,953

-10,540

-11,126

-11,713

-12,298

-12,887

-16,309

-16,916

47,499

400,000

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,844,351
0
0
0
11,206,996
0
0
0
11,127,326
11,943,733
11,907,997
11,424,145
11,276,062
11,039,812
10,402,897
0
0
0
0
1,431,896
848,729
3,040,586
744,362
206,069
193,493
414,080
260,232
419,141
336,448
682,985
380,894
408,457
428,230
465,210
170,019
31,677
14,006

14,006

31,677

170,019

465,210

428,230

408,457

380,894

682,985

336,448

419,141

260,232

414,080

193,493

206,069

744,362

3,040,586

848,729

1,431,896

10,402,897

11,039,812

11,276,062

11,424,145

11,907,997

11,943,733

11,127,326

11,206,996

10,844,351

Accounts payable

1,000
0
7,000
0
0
0
0
9,981
11,173
13,583
13,720
14,315
13,052
13,700
18,154
17,218
30,049
20,873
32,639
17,769
19,940
13,727
14,562
18,853
21,298
27,074
18,718
28,015
70,710
77,316
60,542
72,726
73,838
82,978
72,456
123,138
119,336
106,001
173,576
95,638
142,399
152,666
168,198
161,775
164,659
175,125
186,130
183,574
181,343
202,985
207,143
203,594
401,151
1,128,706
1,085,597
1,060,647
1,059,385
1,049,043
995,156
910,692
887,314
1,019,166
1,001,515
938,098
975,282
965,240
1,005,232
1,016,592
1,026,359
791,430
779,380
738,327
735,287
930,103
907,928
946,674
929,573
943,800
1,182,552
1,134,570
1,133,902
1,134,898
1,086,030
1,063,707
1,137,980
1,194,162
1,145,700
1,141,309
998,186
1,234,933
1,133,066
1,109,279
1,122,171
1,142,822
1,090,254
1,079,596
1,062,935
1,063,969
1,031,689
1,007,437
1,069,590
1,090,028
1,041,616

1,041,616

1,090,028

1,069,590

1,007,437

1,031,689

1,063,969

1,062,935

1,079,596

1,090,254

1,142,822

1,122,171

1,109,279

1,133,066

1,234,933

998,186

1,141,309

1,145,700

1,194,162

1,137,980

1,063,707

1,086,030

1,134,898

1,133,902

1,134,570

1,182,552

943,800

929,573

946,674

907,928

930,103

735,287

738,327

779,380

791,430

1,026,359

1,016,592

1,005,232

965,240

975,282

938,098

1,001,515

1,019,166

887,314

910,692

995,156

1,049,043

1,059,385

1,060,647

1,085,597

1,128,706

401,151

203,594

207,143

202,985

181,343

183,574

186,130

175,125

164,659

161,775

168,198

152,666

142,399

95,638

173,576

106,001

119,336

123,138

72,456

82,978

73,838

72,726

60,542

77,316

70,710

28,015

18,718

27,074

21,298

18,853

14,562

13,727

19,940

17,769

32,639

20,873

30,049

17,218

18,154

13,700

13,052

14,315

13,720

13,583

11,173

9,981

7,000

1,000

Other Current Liabilities

22,000
22,000
31,000
37,000
36,000
58,000
-311,000
89,000
91,000
97,000
19,846
213,000
162,000
194,000
185,000
154,000
148,347
177,971
222,117
87,484
108,060
105,273
101,438
92,147
69,702
79,926
105,282
100,985
66,290
115,684
108,458
75,274
118,626
149,220
142,544
83,862
387,664
443,999
20,790
420,362
341,601
46,255
21,931
42,121
11,647
35,481
17,974
288,460
268,511
286,099
260,629
272,689
-104,193
340,837
298,416
329,449
318,908
321,442
47,565
58,086
50,860
62,176
54,349
61,083
56,722
69,112
62,097
77,359
77,631
65,465
34,340
12,625
88,967
77,608
1,462
1,389
9,812
9,837
61,202
60,023
896
14,790
205
947
1,216
1,531
5,463
5,007
5,773
1,987
3,246
3,853
4,568
20,518
10,850
-581,010
-281,756
88,540
-321,686
-367,255
115,747
124,783
9,243

9,243

124,783

115,747

-367,255

-321,686

88,540

-281,756

-581,010

10,850

20,518

4,568

3,853

3,246

1,987

5,773

5,007

5,463

1,531

1,216

947

205

14,790

896

60,023

61,202

9,837

9,812

1,389

1,462

77,608

88,967

12,625

34,340

65,465

77,631

77,359

62,097

69,112

56,722

61,083

54,349

62,176

50,860

58,086

47,565

321,442

318,908

329,449

298,416

340,837

-104,193

272,689

260,629

286,099

268,511

288,460

17,974

35,481

11,647

42,121

21,931

46,255

341,601

420,362

20,790

443,999

387,664

83,862

142,544

149,220

118,626

75,274

108,458

115,684

66,290

100,985

105,282

79,926

69,702

92,147

101,438

105,273

108,060

87,484

222,117

177,971

148,347

154,000

185,000

194,000

162,000

213,000

19,846

97,000

91,000

89,000

-311,000

58,000

36,000

37,000

31,000

22,000

> Long-term Liabilities

978,000
962,000
931,000
977,000
976,000
975,000
974,000
923,000
923,000
923,000
886,000
886,000
850,000
850,000
848,000
832,000
808,000
786,000
708,000
750,000
720,000
679,000
641,000
782,000
852,000
854,000
843,000
878,000
1,833,000
1,811,000
1,803,000
1,855,000
1,883,000
2,007,000
2,329,000
2,370,000
3,285,000
3,268,000
3,658,089
3,144,000
3,239,000
3,391,875
3,405,193
3,197,971
2,871,479
2,874,392
2,923,766
2,698,171
2,580,849
2,895,547
2,900,044
2,571,368
1,787,638
6,405,958
6,531,953
6,430,364
7,204,727
7,608,682
8,847,916
8,586,598
8,592,265
9,385,638
9,771,819
9,893,665
9,848,750
10,768,281
10,485,346
11,781,032
12,077,426
11,705,998
11,561,224
11,448,335
11,226,903
11,544,913
11,644,695
12,238,443
11,870,518
11,353,319
11,145,944
11,417,109
10,454,498
10,280,154
11,127,059
11,315,664
10,241,419
11,254,841
12,884,478
11,627,284
13,067,832
12,391,959
12,403,457
11,862,041
12,027,556
12,623,926
12,564,320
12,975,846
12,851,536
12,035,124
12,787,440
12,564,288
13,585,410
13,612,305
13,998,760

13,998,760

13,612,305

13,585,410

12,564,288

12,787,440

12,035,124

12,851,536

12,975,846

12,564,320

12,623,926

12,027,556

11,862,041

12,403,457

12,391,959

13,067,832

11,627,284

12,884,478

11,254,841

10,241,419

11,315,664

11,127,059

10,280,154

10,454,498

11,417,109

11,145,944

11,353,319

11,870,518

12,238,443

11,644,695

11,544,913

11,226,903

11,448,335

11,561,224

11,705,998

12,077,426

11,781,032

10,485,346

10,768,281

9,848,750

9,893,665

9,771,819

9,385,638

8,592,265

8,586,598

8,847,916

7,608,682

7,204,727

6,430,364

6,531,953

6,405,958

1,787,638

2,571,368

2,900,044

2,895,547

2,580,849

2,698,171

2,923,766

2,874,392

2,871,479

3,197,971

3,405,193

3,391,875

3,239,000

3,144,000

3,658,089

3,268,000

3,285,000

2,370,000

2,329,000

2,007,000

1,883,000

1,855,000

1,803,000

1,811,000

1,833,000

878,000

843,000

854,000

852,000

782,000

641,000

679,000

720,000

750,000

708,000

786,000

808,000

832,000

848,000

850,000

886,000

923,000

974,000

975,000

976,000

977,000

931,000

962,000

978,000

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,900,044
2,571,368
5,007,080
6,313,141
0
0
0
0
8,413,646
8,295,908
8,420,073
9,413,318
9,364,992
0
9,602,439
10,469,106
10,888,092
11,603,925
11,507,861
11,268,560
11,206,996
11,247,730
10,901,131
11,252,327
11,127,326
11,943,733
11,907,997
11,424,145
11,276,062
11,039,812
10,402,897
10,478,455
10,733,699
10,690,176
10,256,092
12,053,184
12,158,773
14,172,279
12,530,036
12,047,919
11,895,412
11,759,299
11,761,545
12,078,835
12,027,544
12,413,743
12,328,140
12,210,984
12,296,780
12,342,506
13,354,740
13,388,498
0

13,388,498

13,354,740

12,342,506

12,296,780

12,210,984

12,328,140

12,413,743

12,027,544

12,078,835

11,761,545

11,759,299

11,895,412

12,047,919

12,530,036

14,172,279

12,158,773

12,053,184

10,256,092

10,690,176

10,733,699

10,478,455

10,402,897

11,039,812

11,276,062

11,424,145

11,907,997

11,943,733

11,127,326

11,252,327

10,901,131

11,247,730

11,206,996

11,268,560

11,507,861

11,603,925

10,888,092

10,469,106

9,602,439

9,364,992

9,413,318

8,420,073

8,295,908

8,413,646

6,313,141

5,007,080

2,571,368

2,900,044

Warrants

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
174,555
194,302
184,217
171,921
156,660
0
169,292
163,080
172,016
257,246
199,404
198,832
196,529
191,739
217,686
209,278
200,728
171,384
182,154
171,813
158,490
132,555
149,817
143,242
188,141
206,386
222,662
236,792
273,678
197,701
231,920
249,143
235,490
244,619
252,662
280,344
280,283
313,685
282,542
258,795
264,650
259,886
271,671
0
0

271,671

259,886

264,650

258,795

282,542

313,685

280,283

280,344

252,662

244,619

235,490

249,143

231,920

197,701

273,678

236,792

222,662

206,386

188,141

143,242

149,817

132,555

158,490

171,813

182,154

171,384

200,728

209,278

217,686

191,739

196,529

198,832

199,404

257,246

172,016

163,080

169,292

156,660

171,921

184,217

194,302

174,555

Other Liabilities

0
0
0
0
0
0
0
48,424
49,368
52,178
148,202
148,390
117,524
150,190
118,107
106,742
108,138
145,677
162,069
107,139
70,648
60,667
43,582
47,292
33,290
34,669
29,437
22,015
22,868
17,303
12,120
10,530
9,374
8,780
8,623
7,607
10,219
9,665
9,065
8,700
8,050
7,564
7,057
6,307
5,305
4,628
4,315
0
0
0
19,296
0
0
0
37,694
0
0
0
47,565
0
0
0
54,349
0
0
0
62,097
0
0
65,465
34,340
12,625
88,967
77,608
1,462
1,389
9,812
9,837
61,202
60,023
635,747
629,699
596,976
578,879
518,897
516,722
363,420
202,376
207,948
201,018
62,638
205,744
204,297
65,196
59,259
156,071
46,613
40,717
127,669
31,871
29,702
114,029
0

114,029

29,702

31,871

127,669

40,717

46,613

156,071

59,259

65,196

204,297

205,744

62,638

201,018

207,948

202,376

363,420

516,722

518,897

578,879

596,976

629,699

635,747

60,023

61,202

9,837

9,812

1,389

1,462

77,608

88,967

12,625

34,340

65,465

62,097

54,349

47,565

37,694

19,296

4,315

4,628

5,305

6,307

7,057

7,564

8,050

8,700

9,065

9,665

10,219

7,607

8,623

8,780

9,374

10,530

12,120

17,303

22,868

22,015

29,437

34,669

33,290

47,292

43,582

60,667

70,648

107,139

162,069

145,677

108,138

106,742

118,107

150,190

117,524

148,390

148,202

52,178

49,368

48,424

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
0
0
0
0
0
241,333
238,146
279,668
274,852
0
0
0
0
259,715
261,122
247,591
248,369
250,167
0
256,392
361,454
344,337
371,785
370,161
352,658
338,382
333,354
320,468
315,713
316,641
294,057
296,822
296,272
250,092
244,742
240,941
236,616
205,219
205,056
149,454
147,524
200,831
47,533
56,964
53,711
62,638
65,777
68,097
65,196
59,259
52,750
46,613
40,717
35,570
31,871
29,702
112,194
0

112,194

29,702

31,871

35,570

40,717

46,613

52,750

59,259

65,196

68,097

65,777

62,638

53,711

56,964

47,533

200,831

147,524

149,454

205,056

205,219

236,616

240,941

244,742

250,092

296,272

296,822

294,057

316,641

315,713

320,468

333,354

338,382

352,658

370,161

371,785

344,337

361,454

256,392

250,167

248,369

247,591

261,122

259,715

274,852

279,668

238,146

241,333

> Total Stockholder Equity

-39,000
-24,000
-9,000
-14,500
5,900
19,100
8,345
12,009
19,851
-13,684
0
-117,514
-110,369
-81,630
-91,074
-94,266
-95,375
-125,625
-53,627
-42,766
-47,204
-23,705
56,315
113,893
129,628
130,173
160,224
166,730
655,160
654,111
667,319
658,767
649,996
643,675
709,876
708,914
1,879,105
1,843,977
1,823,654
1,978,374
1,981,896
2,187,587
2,148,468
2,167,808
2,494,643
2,502,312
2,465,511
2,445,633
2,416,408
2,401,482
2,386,726
2,643,404
2,213,556
9,245,762
9,274,957
9,186,735
9,418,611
9,357,664
9,019,128
8,915,348
8,925,582
8,885,092
8,824,281
8,731,667
8,655,110
8,548,796
8,680,184
11,039,890
11,027,483
9,609,435
9,564,327
9,614,195
9,689,715
10,488,539
10,460,240
10,414,606
10,374,058
10,731,340
10,866,226
10,740,815
10,616,948
10,452,839
10,215,857
10,149,663
10,820,011
10,665,706
10,445,892
10,632,942
10,311,212
10,196,852
10,180,167
9,970,155
9,882,699
11,076,716
10,854,385
10,697,406
10,512,596
10,361,359
10,152,968
9,996,991
9,968,382
9,817,559
9,488,058

9,488,058

9,817,559

9,968,382

9,996,991

10,152,968

10,361,359

10,512,596

10,697,406

10,854,385

11,076,716

9,882,699

9,970,155

10,180,167

10,196,852

10,311,212

10,632,942

10,445,892

10,665,706

10,820,011

10,149,663

10,215,857

10,452,839

10,616,948

10,740,815

10,866,226

10,731,340

10,374,058

10,414,606

10,460,240

10,488,539

9,689,715

9,614,195

9,564,327

9,609,435

11,027,483

11,039,890

8,680,184

8,548,796

8,655,110

8,731,667

8,824,281

8,885,092

8,925,582

8,915,348

9,019,128

9,357,664

9,418,611

9,186,735

9,274,957

9,245,762

2,213,556

2,643,404

2,386,726

2,401,482

2,416,408

2,445,633

2,465,511

2,502,312

2,494,643

2,167,808

2,148,468

2,187,587

1,981,896

1,978,374

1,823,654

1,843,977

1,879,105

708,914

709,876

643,675

649,996

658,767

667,319

654,111

655,160

166,730

160,224

130,173

129,628

113,893

56,315

-23,705

-47,204

-42,766

-53,627

-125,625

-95,375

-94,266

-91,074

-81,630

-110,369

-117,514

-13,684

19,851

12,009

8,345

19,100

5,900

-14,500

-9,000

-24,000

-39,000

Common Stock

18,000
18,000
18,000
0
0
18,400
18,402
18,402
18,402
18,402
18,402
18,402
18,402
18,402
18,402
18,402
18,402
18,402
20,652
20,652
20,652
20,652
20,652
21,157
21,190
21,233
21,283
21,306
25,888
25,890
25,927
25,974
26,004
26,036
26,545
26,587
33,350
33,371
33,416
34,592
34,619
35,823
35,825
35,867
39,138
39,155
39,160
39,341
39,343
39,346
39,391
40,818
12,671
72,025
72,240
72,273
73,855
73,896
73,904
73,969
74,248
74,345
74,488
73,599
73,602
73,603
74,656
82,718
82,982
83,238
83,579
84,354
85,246
88,431
88,514
88,698
89,016
89,023
89,029
89,062
89,085
89,100
89,125
89,579
92,852
93,164
93,185
93,256
93,261
93,467
93,635
93,750
93,784
99,777
99,838
99,888
99,913
99,914
99,912
100,065
100,206
100,647
100,648

100,648

100,647

100,206

100,065

99,912

99,914

99,913

99,888

99,838

99,777

93,784

93,750

93,635

93,467

93,261

93,256

93,185

93,164

92,852

89,579

89,125

89,100

89,085

89,062

89,029

89,023

89,016

88,698

88,514

88,431

85,246

84,354

83,579

83,238

82,982

82,718

74,656

73,603

73,602

73,599

74,488

74,345

74,248

73,969

73,904

73,896

73,855

72,273

72,240

72,025

12,671

40,818

39,391

39,346

39,343

39,341

39,160

39,155

39,138

35,867

35,825

35,823

34,619

34,592

33,416

33,371

33,350

26,587

26,545

26,036

26,004

25,974

25,927

25,890

25,888

21,306

21,283

21,233

21,190

21,157

20,652

18,402

18,400

18,000

Retained Earnings

-40,000
-25,000
-10,000
-15,800
4,400
17,400
6,409
9,142
16,655
-17,199
-121,323
-121,323
-117,763
-138,899
-134,088
-137,793
-127,731
-127,126
-134,279
-118,137
-123,177
-112,302
-56,790
-60,740
-62,377
-64,473
-45,297
-48,255
-51,746
-60,280
-50,402
-62,308
-74,124
-83,024
-84,176
-89,591
21,636
-13,761
-47,846
-86,698
-86,610
-95,414
-110,407
-117,124
-109,012
-139,478
-165,710
-196,972
-222,853
-249,047
-255,628
-300,382
-2,236,960
-439,015
-412,181
-500,808
-609,487
-680,888
-777,927
-861,434
-943,384
-1,021,628
-1,126,541
-1,218,967
-1,294,048
-1,398,378
-1,526,388
-1,660,856
-1,772,529
-1,992,848
-2,111,958
-2,208,474
-2,313,287
-2,420,766
-2,487,695
-2,564,936
-2,688,946
-2,351,430
-2,240,698
-2,413,440
-2,529,102
-2,709,293
-2,930,214
-3,088,401
-3,173,287
-3,384,421
-3,669,050
-3,491,696
-3,816,460
-3,972,647
-4,030,376
-4,257,001
-4,340,052
-4,459,630
-4,679,889
-4,821,653
-5,044,569
-5,223,902
-5,449,385
-5,611,067
-5,688,499
-5,941,303
-6,213,803

-6,213,803

-5,941,303

-5,688,499

-5,611,067

-5,449,385

-5,223,902

-5,044,569

-4,821,653

-4,679,889

-4,459,630

-4,340,052

-4,257,001

-4,030,376

-3,972,647

-3,816,460

-3,491,696

-3,669,050

-3,384,421

-3,173,287

-3,088,401

-2,930,214

-2,709,293

-2,529,102

-2,413,440

-2,240,698

-2,351,430

-2,688,946

-2,564,936

-2,487,695

-2,420,766

-2,313,287

-2,208,474

-2,111,958

-1,992,848

-1,772,529

-1,660,856

-1,526,388

-1,398,378

-1,294,048

-1,218,967

-1,126,541

-1,021,628

-943,384

-861,434

-777,927

-680,888

-609,487

-500,808

-412,181

-439,015

-2,236,960

-300,382

-255,628

-249,047

-222,853

-196,972

-165,710

-139,478

-109,012

-117,124

-110,407

-95,414

-86,610

-86,698

-47,846

-13,761

21,636

-89,591

-84,176

-83,024

-74,124

-62,308

-50,402

-60,280

-51,746

-48,255

-45,297

-64,473

-62,377

-60,740

-56,790

-112,302

-123,177

-118,137

-134,279

-127,126

-127,731

-137,793

-134,088

-138,899

-117,763

-121,323

-17,199

16,655

9,142

6,409

17,400

4,400

-15,800

-10,000

-25,000

-40,000

Accumulated Other Comprehensive Income

-240,000
-4,000
-4,000
0
0
0
-2,080
-2,353
-2,024
-1,680
-327,598
-1,338
-431
49,429
35,174
33,452
22,256
-11,387
-26,909
-34,304
-34,803
-31,778
-19,042
-24,680
-11,364
-14,556
-9,747
-4,943
-6,644
-1,959
-856
685
1,449
1,569
1,037
914
9,482
6,652
17,416
14,819
12,831
4,835
-21,089
-18,322
-1,411
15,080
19,669
25,154
16,506
23,816
26,868
28,097
1,929,585
19,237
22,062
23,926
21,404
23,626
23,354
21,828
19,752
21,293
19,659
18,464
26,255
16,156
13,121
4,357
10,180
-592
-7,565
-19,932
-44,195
-49,614
-57,534
-53,657
-45,035
-40,780
-35,120
-14,474
-10,861
-7,947
-19,582
-12,065
-39,671
-59,857
-34,564
-103,408
-82,761
-65,042
-54,354
-52,497
-58,290
-67,601
-64,520
-59,296
-56,355
-47,309
-36,800
-40,469
-14,552
-6,182
-57,852

-57,852

-6,182

-14,552

-40,469

-36,800

-47,309

-56,355

-59,296

-64,520

-67,601

-58,290

-52,497

-54,354

-65,042

-82,761

-103,408

-34,564

-59,857

-39,671

-12,065

-19,582

-7,947

-10,861

-14,474

-35,120

-40,780

-45,035

-53,657

-57,534

-49,614

-44,195

-19,932

-7,565

-592

10,180

4,357

13,121

16,156

26,255

18,464

19,659

21,293

19,752

21,828

23,354

23,626

21,404

23,926

22,062

19,237

1,929,585

28,097

26,868

23,816

16,506

25,154

19,669

15,080

-1,411

-18,322

-21,089

4,835

12,831

14,819

17,416

6,652

9,482

914

1,037

1,569

1,449

685

-856

-1,959

-6,644

-4,943

-9,747

-14,556

-11,364

-24,680

-19,042

-31,778

-34,803

-34,304

-26,909

-11,387

22,256

33,452

35,174

49,429

-431

-1,338

-327,598

-1,680

-2,024

-2,353

-2,080

-4,000

-240,000

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,576,843
2,874,879
4,254,137
9,595,495
0
0
0
0
9,920,962
9,904,694
9,996,095
10,032,285
10,078,592
0
9,849,301
9,859,490
10,119,306
12,616,056
12,708,898
11,523,312
11,602,838
11,758,306
11,961,951
12,870,566
12,917,002
12,944,501
13,019,023
13,034,527
13,053,057
13,080,220
13,068,399
13,081,324
13,076,528
13,160,550
13,940,117
14,017,030
14,056,453
14,135,657
14,118,119
14,142,349
14,171,262
14,186,692
14,187,577
15,504,210
15,498,956
15,478,467
15,514,015
15,533,203
15,539,777
15,562,017
15,584,858
15,678,031
0

15,678,031

15,584,858

15,562,017

15,539,777

15,533,203

15,514,015

15,478,467

15,498,956

15,504,210

14,187,577

14,186,692

14,171,262

14,142,349

14,118,119

14,135,657

14,056,453

14,017,030

13,940,117

13,160,550

13,076,528

13,081,324

13,068,399

13,080,220

13,053,057

13,034,527

13,019,023

12,944,501

12,917,002

12,870,566

11,961,951

11,758,306

11,602,838

11,523,312

12,708,898

12,616,056

10,119,306

9,859,490

9,849,301

10,078,592

10,032,285

9,996,095

9,904,694

9,920,962

9,595,495

4,254,137

2,874,879

2,576,843

Treasury Stock

-536

-40

-320

-789

-1,275

-947

-867

-132

-210

-345

-573

-553

-42

-47

-78

-59

-2,567

-3,675

-2,048

-2,385

-511

-2,075

-162

-221,917

-221,203

-221,129

-223,709

-221,165

-536

-747

-1,980

-8

-748

-467

-647

-2,502,312

-5

-53

-457

-2

-18

-626

-94

-115

-2,216

-9,149

-11,594

-14,918

-16,424

-19,303

-21,789

-50,971

-73,942

-95,029

-99,969

-104,870

-110,829

-127,342

-127,590

-133,030

-133,885

-133,924

-137,537

-145,483

-145,433

-145,427

-145,419

Other Stockholders Equity

223,000
-13,000
-13,000
1,300
1,500
-16,700
271,290
282,855
293,709
304,551
0
313,005
337,539
397,890
394,114
404,241
402,020
381,524
86,909
89,023
90,124
99,723
111,495
178,156
182,179
187,969
193,985
198,622
687,662
690,460
692,650
694,416
696,667
699,094
766,470
771,004
1,814,637
1,817,715
1,820,668
2,015,661
2,021,056
2,242,343
2,244,139
2,267,387
2,565,928
2,570,146
2,572,392
2,578,110
2,583,412
2,587,367
2,576,095
2,874,871
4,254,137
9,593,515
9,592,836
9,591,344
9,932,839
9,941,030
9,699,797
9,680,985
9,774,966
9,811,082
9,856,675
9,858,571
9,849,301
9,857,415
10,118,795
12,613,671
12,706,850
11,519,637
11,600,271
11,758,247
11,961,951
12,870,488
12,916,955
12,944,501
13,019,023
13,034,527
13,053,015
13,079,667
13,067,826
13,080,979
13,076,528
13,160,550
13,940,117
14,016,820
14,056,321
14,134,790
14,117,172
14,141,074
14,171,262
14,185,903
14,187,257
15,504,170
15,498,956
15,478,467
15,513,607
15,532,656
15,539,241
15,548,462
15,571,227
15,664,397
15,659,065

15,659,065

15,664,397

15,571,227

15,548,462

15,539,241

15,532,656

15,513,607

15,478,467

15,498,956

15,504,170

14,187,257

14,185,903

14,171,262

14,141,074

14,117,172

14,134,790

14,056,321

14,016,820

13,940,117

13,160,550

13,076,528

13,080,979

13,067,826

13,079,667

13,053,015

13,034,527

13,019,023

12,944,501

12,916,955

12,870,488

11,961,951

11,758,247

11,600,271

11,519,637

12,706,850

12,613,671

10,118,795

9,857,415

9,849,301

9,858,571

9,856,675

9,811,082

9,774,966

9,680,985

9,699,797

9,941,030

9,932,839

9,591,344

9,592,836

9,593,515

4,254,137

2,874,871

2,576,095

2,587,367

2,583,412

2,578,110

2,572,392

2,570,146

2,565,928

2,267,387

2,244,139

2,242,343

2,021,056

2,015,661

1,820,668

1,817,715

1,814,637

771,004

766,470

699,094

696,667

694,416

692,650

690,460

687,662

198,622

193,985

187,969

182,179

178,156

111,495

99,723

90,124

89,023

86,909

381,524

402,020

404,241

394,114

397,890

337,539

313,005

304,551

293,709

282,855

271,290

-16,700

1,500

1,300

-13,000

223,000

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Accounts Payable	1,041,616	1,031,689	1,090,254	1,133,066	1,145,700	1,086,030	1,182,552	907,928	779,380	1,005,232	1,001,515	995,156	1,085,597	207,143	186,130	168,198	173,576	72,456	60,542	18,718	14,562	32,639	18,154	13,720	0	0	106,019	103,518	99,887
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-57,852	-36,800	-64,520	-54,354	-34,564	-19,582	-35,120	-57,534	-7,565	13,121	19,659	23,354	22,062	26,868	19,669	-21,089	17,416	1,037	-856	-9,747	-19,042	-26,909	35,174	-1,338	-2,080	-1,962	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	13,053,057	12,917,002	0	0	0	0	0	0	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	194,734	190,440	197,234	209,917	251,196	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	100,648	99,912	99,838	93,635	93,185	89,125	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	15,539,777	15,498,956	14,171,262	14,056,453	13,076,528	13,053,057	12,917,002	11,602,838	10,119,306	10,078,592	9,920,962	0	2,576,843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	563,462	122,564	149,725	413,327	106,363	72,277	81,355	286,707	53,023	55,348	94,816	67,908	45,807	21,812	107,397	176,812	28,334	1,246	1,641	3,365	82,104	2,455	18,596	87,401	139,594	338	82,473	112,466	35,182
Cash And Equivalents	0	122,564	149,725	413,327	106,363	72,277	81,355	286,707	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	563,462	122,564	149,725	413,327	106,363	72,277	136,020	286,707	116,702	118,463	94,816	67,908	45,807	21,812	107,397	176,812	28,334	1,246	1,641	3,365	82,104	19,168	90,800	87,401	139,594	338	82,473	112,466	35,182
Common Stock	100,648	99,912	99,838	93,635	93,185	89,125	89,029	88,514	83,579	74,656	74,488	73,904	72,240	39,391	39,160	35,825	33,416	26,545	25,927	21,283	20,652	20,652	18,402	18,402	18,402	18,402	18,368	18,154	18,040
Common Stock Shares Outstanding	401,809	373,368	386,304	376,503	369,886	359,301	358,566	348,390	334,007	296,677	295,110	294,488	230,790	157,657	152,758	139,912	123,012	104,731	95,775	84,352	80,094	70,290	69,363	68,131	67,989	68,610	70,359	70,702	71,967
Common Stock Total Equity	0	99,912	99,838	439,149	93,185	89,125	89,029	88,514	83,579	74,656	74,488	73,904	72,240	39,391	39,160	35,825	33,416	26,545	25,927	21,283	20,652	20,652	18,402	18,402	18,402	18,402	0	0	0
Current Deferred Revenue	-1,132,773	10,490	-229,846	-82,049	-737,614	-756,740	93,958	-62,776	80,864	0	-376,343	-540,727	0	0	4,315	7,057	9,065	8,194	10,540	12,887	0	18,883	0	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	35,570	59,259	62,638	200,831	205,219	250,092	316,641	338,382	344,337	250,167	259,715	0	241,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	1,045,176	1,044,415	1,046,140	1,051,650	1,051,161	1,050,548	1,034,641	1,033,225	1,047,497	472,052	476,483	515,429	448,393	0	0	0	0	0	0	0	0	0	0	0	0	0	659,311	0	0
Intangible Assets	1,453,730	1,346,190	1,369,747	1,230,886	1,306,152	1,502,955	1,544,491	1,510,629	1,357,646	1,039,651	1,010,181	981,704	462,655	146,813	16,700	9,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	0	451,355	448,745	0	556,107	0	0	0	0	0	-155,340	-111,556	0	-149,263	-92,055	-123,289	54,077	0	0	0	0	0	0	0	0	0	27,605	24,939	24,862
Liabilities And Stockholders Equity	24,725,433	24,157,840	24,717,786	23,929,404	24,692,208	22,584,555	23,954,541	23,166,600	22,261,918	21,226,171	19,731,494	18,980,000	17,271,910	5,758,021	5,616,245	5,769,984	5,716,628	3,253,800	2,639,118	1,126,935	812,850	895,780	941,859	981,145	1,071,199	959,706	3,334,739	1,968,856	1,912,454
Long Term Debt	13,476,890	12,296,780	12,027,544	11,895,412	12,158,773	10,733,699	11,276,062	11,127,326	11,206,996	10,888,092	9,364,992	8,413,646	6,109,799	2,900,044	2,467,119	2,996,777	3,167,398	2,198,847	1,786,890	838,385	637,150	704,550	848,368	886,385	0	0	0	0	0
Long Term Debt Total	0	12,296,780	12,027,544	11,895,412	12,158,773	10,733,699	11,276,062	11,127,326	11,206,996	10,888,092	9,364,992	8,413,646	0	2,900,044	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	678,518	22,277,474	22,870,429	21,599,290	45,022	20,637,904	22,058,378	21,192,696	20,578,039	19,907,187	18,543,471	17,841,943	0	5,444,114	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	13,204,133	12,792,886	12,075,053	11,692,002	12,303,606	10,661,422	11,194,707	10,840,619	11,153,973	10,832,744	9,270,176	8,345,738	6,383,309	2,878,232	2,562,704	2,970,882	3,332,165	2,327,807	1,800,923	839,813	558,458	705,254	829,772	798,984	1,234,653	1,330,789	1,864,619	652,733	752,490
Net Invested Capital	22,978,954	22,449,748	22,881,929	22,075,579	22,604,665	20,949,556	22,142,288	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	194,108	537,075	530,126	605,567	704,612	495,869	1,619,130	702,021	1,050,423	954,610	376,229	635,002	0	149,263	131,887	123,289	2,092	2,466	2,841	3,216	3,772	4,139	3,635	3,422	3,611	10,994	619,068	420,758	360,147
Net Tangible Assets	0	9,373,203	8,438,498	9,364,007	8,362,257	9,353,450	9,990,075	9,627,743	8,713,359	8,852,200	8,980,941	9,193,683	0	2,386,726	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-314,071	-396,010	-452,584	89,907	-588,943	-1,161,713	31,295	131,184	262,814	-631,121	-500,162	-233,898	-1,261,616	-407,020	-92,436	35,492	-121,020	23,867	54,764	25,958	21,366	-124,615	-90,565	-122,177	54,205	-26,668	445,086	320,123	239,666
Non Current Assets Total	23,857,236	23,405,127	23,962,664	22,862,589	23,750,061	21,951,768	21,992,169	22,042,264	20,923,837	19,870,864	19,175,792	18,171,177	17,149,513	5,697,269	5,246,597	5,537,306	5,634,217	30,394	30,394	30,394	681,290	30,394	861,454	848,545	895,682	939,471	2,476,591	1,307,723	1,387,775
Non Current Liabilities Other	0	12,493,712	12,235,628	12,108,575	256,659	205	61,202	1,462	34,340	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	13,998,760	12,787,440	12,564,320	12,403,457	12,884,478	11,127,059	11,145,944	11,644,695	11,561,224	10,485,346	9,771,819	8,847,916	6,531,953	2,900,044	2,670,101	3,405,193	3,658,089	2,329,000	1,803,000	843,000	641,000	708,000	848,000	886,000	974,000	931,000	2,014,277	709,100	822,159
Non Currrent Assets Other	-862,770	20,113,776	565,069	807,229	877,296	759,185	189,275	518,364	18,422,987	163,145	946,335	921,685	1,130,478	14,272	-253,665	-16,421	-137,386	-3,083,900	-2,526,474	-1,071,132	-681,290	-845,515	-861,454	-848,545	-895,682	-939,471	131,161	0	78,090
Noncontrolling Interest In Consolidated Entity	0	68,709	91,375	98,024	99,560	55,737	65,959	68,513	61,100	74,213	79,530	70,235	0	3,479	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	20,786,799	21,610,896	21,646,866	925,970	625,604	1,481,618	831,591	170,956	433,936	321,272	260,964	391,648	173,599	205,719	232,078	138,114	2,984,539	2,384,960	946,583	-5,806	749,001	-14,030	41,777	32,312	8,903	0	0	0
Other Current Assets	-757,570	-358,281	-373,474	-621,351	-424,935	64,641	207,222	135,608	170,956	282,234	239,997	217,469	76,590	38,940	222,419	55,866	-2,092	235,155	219,282	143,377	51,490	93,078	0	0	0	0	129,002	35,162	26,491
Other Current Liab	9,243	-321,686	10,850	3,246	5,463	205	61,202	1,462	34,340	62,097	54,349	47,565	298,416	260,629	17,974	21,931	20,790	142,544	108,458	105,282	101,438	222,117	185,000	213,000	-311,000	-362,000	279,575	182,800	175,554
Other Liab	0	127,669	59,259	62,638	363,420	405,067	652,919	706,155	633,909	62,097	54,349	47,565	37,694	19,296	22,289	28,988	29,855	70,072	63,881	65,678	71,017	178,665	136,017	168,048	0	0	0	0	0
Other Stockholder Equity	15,659,065	15,539,241	15,498,956	14,171,262	14,056,321	13,076,528	13,053,015	12,916,955	11,600,271	10,118,795	9,856,675	9,699,797	9,592,836	2,576,095	2,572,392	2,244,139	1,820,668	766,470	692,650	193,985	111,495	86,909	394,114	313,005	271,290	228,735	605,179	713,527	684,377
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	0	0	0	0	0	0	0	0	0	0	0	0	15,913,732	5,279,519	5,114,710	5,172,939	0	3,083,900	2,526,474	1,071,132	681,290	828,802	806,336	848,545	894,791	939,471	0	0	0
Property Plant And Equipment Net	21,461,765	310,307	20,447,091	19,319,149	20,422,935	18,385,483	18,800,293	18,567,484	0	17,683,761	16,877,453	15,912,664	15,913,732	5,279,519	5,246,597	5,296,228	0	3,083,900	2,526,474	1,071,132	681,290	828,802	806,336	848,545	894,791	939,471	1,507,818	1,276,115	1,267,105
Property Plant Equipment	0	21,160,450	20,447,091	20,550,035	27,125,723	19,481,673	19,909,562	19,626,090	19,625,220	16,316,650	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings	-6,213,803	-5,449,385	-4,679,889	-4,030,376	-3,669,050	-2,930,214	-2,240,698	-2,487,695	-2,111,958	-1,526,388	-1,126,541	-777,927	-412,181	-255,628	-165,710	-110,407	-47,846	-84,176	-50,402	-45,297	-56,790	-134,279	-134,088	-121,323	6,409	-9,637	281,803	150,870	102,865
Retained Earnings Total Equity	0	-5,449,385	-4,679,889	-4,030,376	-3,669,050	-2,930,214	-2,240,698	-2,487,695	-2,111,958	-1,526,388	-1,126,541	-777,927	0	-255,628	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	14,006	428,230	336,448	193,493	848,729	856,407	11,276,062	11,127,326	11,206,996	10,844,351	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	13,767,595	12,915,450	12,224,778	12,105,329	12,409,969	10,733,699	11,276,062	11,127,326	11,206,996	10,888,092	9,364,992	8,413,646	6,429,116	2,900,044	2,670,101	3,147,694	3,360,499	2,329,053	1,802,564	843,178	640,562	707,709	848,368	886,385	1,374,247	1,331,127	1,947,092	765,199	787,672
Short Term Debt	1,264,182	428,230	336,448	193,493	848,729	856,407	538,700	146,538	180,683	919,099	376,343	540,727	0	0	253,665	0	0	-8,194	-10,540	-12,887	0	0	0	0	400,000	400,000	27,468	54,692	9,572
Short Term Investments	0	537,075	530,126	237,553	237,360	56,378	54,665	55,049	63,679	63,115	84,657	5,400	76,590	38,940	39,832	55,866	54,077	80,039	59,667	25,710	7,575	16,713	72,204	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	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	24,725,433	24,157,840	24,717,786	23,929,404	24,692,208	22,584,555	23,954,541	23,166,600	22,261,918	21,226,171	19,731,494	18,980,000	17,271,910	5,758,021	5,616,245	5,769,984	5,716,628	3,253,800	2,639,118	1,126,935	812,850	895,780	941,859	981,145	1,071,199	959,706	3,334,739	1,968,856	1,912,454
Total Current Assets	868,197	752,713	755,122	1,066,815	942,147	632,787	1,962,372	1,124,336	1,338,081	1,355,307	555,702	808,823	122,397	60,752	369,648	232,678	82,411	238,867	223,764	149,958	137,366	116,385	94,435	90,823	143,205	11,332	858,148	661,133	524,679
Total Current Liabilities	1,182,268	1,148,723	1,207,706	1,247,756	1,262,278	1,185,902	1,876,412	993,152	1,075,267	1,986,428	1,055,864	1,042,721	1,384,013	467,772	462,084	197,186	203,431	215,000	169,000	124,000	116,000	241,000	185,000	213,000	89,000	38,000	413,062	341,010	285,013
Total Liab	14,878,392	13,936,163	13,772,026	13,651,213	14,146,756	12,312,961	13,022,356	12,637,847	12,636,491	12,471,774	10,827,683	9,890,637	7,915,966	3,367,816	3,132,185	3,602,379	3,861,520	2,543,924	1,971,799	966,711	756,535	949,407	1,032,933	1,098,659	1,062,854	968,715	2,427,339	1,050,110	1,107,172
Total Permanent Equity	0	0	0	0	0	0	10,932,185	10,528,753	0	0	0	0	0	0	2,484,060	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	9,488,058	10,152,968	10,854,385	10,180,167	10,445,892	10,215,857	10,866,226	10,460,240	9,564,327	8,680,184	8,824,281	9,019,128	9,274,957	2,386,726	2,465,511	2,148,468	1,823,654	709,876	667,319	160,224	56,315	-53,627	-91,074	-117,514	8,345	-9,009	905,350	882,551	805,282
Treasury Stock	0	-536	0	0	-132	0	-42	-47	-2,567	-511	-221,917	-221,165	-747	-748	-647	-457	-626	0	0	-14,918	-50,971	-104,870	-133,030	-145,483	0	0	0	0	0
Warrants	0	264,650	280,283	235,490	273,678	188,141	158,490	200,728	196,529	172,016	156,660	174,555	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31	1999-12-31	1999-09-30	1999-06-30	1999-03-31	1998-12-31	1998-09-30	1998-06-30
Accounts Payable	1,041,616	1,090,028	1,069,590	1,007,437	1,031,689	1,063,969	1,062,935	1,079,596	1,090,254	1,142,822	1,122,171	1,109,279	1,133,066	1,234,933	998,186	1,141,309	1,145,700	1,194,162	1,137,980	1,063,707	1,086,030	1,134,898	1,133,902	1,134,570	1,182,552	943,800	929,573	946,674	907,928	930,103	735,287	738,327	779,380	791,430	1,026,359	1,016,592	1,005,232	965,240	975,282	938,098	1,001,515	1,019,166	887,314	910,692	995,156	1,049,043	1,059,385	1,060,647	1,085,597	1,128,706	401,151	203,594	207,143	202,985	181,343	183,574	186,130	175,125	164,659	161,775	168,198	152,666	142,399	95,638	173,576	106,001	119,336	123,138	72,456	82,978	73,838	72,726	60,542	77,316	70,710	28,015	18,718	27,074	21,298	18,853	14,562	13,727	19,940	17,769	32,639	20,873	30,049	17,218	18,154	13,700	13,052	14,315	13,720	13,583	11,173	9,981	0	0	0	0	7,000	0	1,000
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	-57,852	-6,182	-14,552	-40,469	-36,800	-47,309	-56,355	-59,296	-64,520	-67,601	-58,290	-52,497	-54,354	-65,042	-82,761	-103,408	-34,564	-59,857	-39,671	-12,065	-19,582	-7,947	-10,861	-14,474	-35,120	-40,780	-45,035	-53,657	-57,534	-49,614	-44,195	-19,932	-7,565	-592	10,180	4,357	13,121	16,156	26,255	18,464	19,659	21,293	19,752	21,828	23,354	23,626	21,404	23,926	22,062	19,237	1,929,585	28,097	26,868	23,816	16,506	25,154	19,669	15,080	-1,411	-18,322	-21,089	4,835	12,831	14,819	17,416	6,652	9,482	914	1,037	1,569	1,449	685	-856	-1,959	-6,644	-4,943	-9,747	-14,556	-11,364	-24,680	-19,042	-31,778	-34,803	-34,304	-26,909	-11,387	22,256	33,452	35,174	49,429	-431	-1,338	-327,598	-1,680	-2,024	-2,353	-2,080	0	0	0	-4,000	-4,000	-240,000
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	13,080,220	13,053,057	13,034,527	13,019,023	12,944,501	12,917,002	12,870,566	11,961,951	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	194,734	197,666	200,968	189,911	190,440	191,880	194,241	195,668	197,234	199,551	205,484	206,426	209,917	247,255	248,912	250,357	251,196	249,237	233,757	214,046	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	100,648	100,647	100,206	100,065	99,912	99,914	99,913	99,888	99,838	99,777	93,784	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	15,678,031	15,584,858	15,562,017	15,539,777	15,533,203	15,514,015	15,478,467	15,498,956	15,504,210	14,187,577	14,186,692	14,171,262	14,142,349	14,118,119	14,135,657	14,056,453	14,017,030	13,940,117	13,160,550	13,076,528	13,081,324	13,068,399	13,080,220	13,053,057	13,034,527	13,019,023	12,944,501	12,917,002	12,870,566	11,961,951	11,758,306	11,602,838	11,523,312	12,708,898	12,616,056	10,119,306	9,859,490	9,849,301	0	10,078,592	10,032,285	9,996,095	9,904,694	9,920,962	0	0	0	0	9,595,495	4,254,137	2,874,879	2,576,843	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	563,462	433,937	138,648	145,357	122,564	145,146	127,073	149,599	149,725	143,770	233,837	169,661	413,327	588,343	992,824	2,848,115	106,363	148,063	81,987	82,514	72,277	86,107	93,684	92,543	81,355	85,063	103,353	91,284	286,707	89,279	57,322	51,701	53,023	65,231	60,532	120,225	55,348	64,595	86,635	59,791	94,816	54,672	62,421	57,690	67,908	58,530	52,803	53,224	45,807	57,482	47,513	41,899	21,812	33,790	27,794	132,729	107,397	70,889	46,523	95,806	176,812	115,923	29,268	51,347	28,334	28,573	30,138	0	1,246	2,000	1,932	1,466	1,641	5,764	802	1,779	3,365	3,805	8,880	1,723	82,104	10,095	9,173	3,083	2,455	4,121	3,336	9,281	18,596	23,827	23,384	87,401	87,401	96,138	115,648	121,648	139,594	120,000	70,000	58,000	0	2,000	-
Cash And Equivalents	0	433,937	138,648	145,357	122,564	145,146	127,073	149,599	149,725	143,770	233,837	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	563,462	433,937	138,648	145,357	122,564	145,146	127,073	149,599	149,725	143,770	489,799	446,612	413,327	868,480	992,824	3,093,609	106,363	432,033	368,396	82,514	72,277	147,344	357,365	92,543	136,020	139,541	158,871	146,528	286,707	153,835	121,712	115,783	116,702	128,935	60,532	183,547	118,463	127,198	147,597	59,791	94,816	54,672	62,421	57,690	67,908	58,530	52,803	53,224	45,807	57,482	47,513	41,899	21,812	33,790	27,794	132,729	107,397	70,889	46,523	95,806	176,812	115,923	29,268	51,347	28,334	28,573	30,138	0	1,246	2,000	1,932	1,466	1,641	5,764	802	1,779	3,365	3,805	8,880	1,723	82,104	10,095	23,048	13,497	19,168	38,219	46,063	53,032	90,800	23,827	23,384	87,401	0	96,138	115,648	121,648	139,594	120,000	70,000	58,000	0	2,000	-
Common Stock	100,648	100,647	100,206	100,065	99,912	99,914	99,913	99,888	99,838	99,777	93,784	93,750	93,635	93,467	93,261	93,256	93,185	93,164	92,852	89,579	89,125	89,100	89,085	89,062	89,029	89,023	89,016	88,698	88,514	88,431	85,246	84,354	83,579	83,238	82,982	82,718	74,656	73,603	73,602	73,599	74,488	74,345	74,248	73,969	73,904	73,896	73,855	72,273	72,240	72,025	12,671	40,818	39,391	39,346	39,343	39,341	39,160	39,155	39,138	35,867	35,825	35,823	34,619	34,592	33,416	33,371	33,350	26,587	26,545	26,036	26,004	25,974	25,927	25,890	25,888	21,306	21,283	21,233	21,190	21,157	20,652	20,652	20,652	20,652	20,652	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,400	0	0	18,000	18,000	18,000
Common Stock Shares Outstanding	406,977	402,859	404,122	403,792	399,655	403,543	403,526	403,260	403,108	385,523	378,408	377,922	377,696	376,295	376,024	375,997	376,453	376,625	365,553	360,619	359,989	359,355	359,000	358,853	358,853	359,333	358,311	357,572	357,435	354,186	342,571	339,202	339,202	336,338	334,026	329,203	329,203	296,495	296,504	296,245	296,047	295,190	295,123	293,924	297,089	297,407	292,592	290,813	290,813	290,794	177,945	162,023	162,023	157,941	157,441	156,967	156,967	156,516	154,510	143,145	143,145	141,141	138,737	136,673	136,673	133,503	117,825	106,775	106,775	104,568	104,374	104,300	104,300	103,880	89,350	85,400	85,400	84,889	84,565	82,760	82,760	80,258	79,575	79,296	79,296	70,047	70,002	69,844	69,844	69,584	69,307	68,872	68,222	68,224	68,101	67,912	67,912	68,421	67,333	67,667	67,700	67,900	-
Common Stock Total Equity	0	0	100,206	100,065	99,912	99,914	99,913	99,888	99,838	99,777	93,784	93,750	439,149	93,467	93,261	93,256	93,185	93,164	92,852	89,579	89,125	89,100	89,085	89,062	89,029	89,023	89,016	88,698	88,514	88,431	85,246	84,354	83,579	83,238	82,982	82,718	74,656	73,603	73,602	73,599	74,488	74,345	74,248	73,969	73,904	73,896	73,855	72,273	72,240	72,025	47,063	40,818	39,391	39,346	39,343	39,341	39,160	39,155	39,138	35,867	35,825	35,823	34,619	34,592	33,416	33,371	33,350	26,587	26,545	26,036	26,004	25,974	25,927	25,890	25,888	21,306	21,283	21,233	21,190	21,157	20,652	20,652	20,652	20,652	20,652	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,402	18,400	0	0	18,000	18,000	18,000
Current Deferred Revenue	-1,132,773	-83,765	-170,019	0	10,490	13,614	11,152	0	-229,846	-329,128	105,883	91,390	-82,049	97,828	-626,675	87,245	-737,614	85,214	111,388	-269,998	-756,740	76,883	93,112	-735,236	93,958	95,684	87,248	78,219	-62,776	70,790	80,157	66,988	80,864	67,358	-583,765	0	0	0	0	-559,299	-376,343	0	0	0	-540,727	0	0	0	0	0	-134,801	0	0	0	0	0	4,315	4,628	5,305	6,307	7,057	7,564	8,050	8,700	9,065	9,665	10,219	7,607	8,194	8,780	9,374	9,953	10,540	11,126	11,713	12,298	12,887	0	0	0	0	16,309	16,916	18,248	18,883	19,029	19,653	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	112,194	29,702	31,871	35,570	40,717	46,613	52,750	59,259	65,196	68,097	65,777	62,638	53,711	56,964	47,533	200,831	147,524	149,454	205,056	205,219	236,616	240,941	244,742	250,092	296,272	296,822	294,057	316,641	315,713	320,468	333,354	338,382	352,658	370,161	371,785	344,337	361,454	256,392	0	250,167	248,369	247,591	261,122	259,715	0	0	0	0	274,852	279,668	238,146	241,333	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,045,176	1,044,536	1,045,147	1,044,699	1,044,415	1,043,289	1,044,509	1,045,663	1,046,140	1,046,070	1,051,832	1,051,780	1,051,650	1,050,742	1,050,115	1,050,137	1,051,161	1,049,985	1,050,470	1,050,876	1,050,548	1,045,877	1,034,274	1,035,248	1,034,641	1,034,497	1,034,054	1,033,484	1,033,225	1,043,075	1,043,479	1,044,983	1,047,497	1,052,321	1,210,346	1,127,590	472,052	463,458	472,756	474,635	476,483	477,983	479,356	481,038	515,429	492,523	493,298	448,053	448,393	288,196	150,293	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Intangible Assets	1,453,730	1,469,998	1,498,639	926,220	1,346,190	1,348,068	1,361,671	1,373,364	1,369,747	1,372,462	1,205,004	1,216,808	1,230,886	1,251,060	1,240,488	1,246,602	1,306,152	1,340,177	1,272,723	1,279,490	1,502,955	1,512,073	1,516,614	1,532,223	1,544,491	1,543,318	1,541,311	1,539,849	1,510,629	1,532,174	1,342,909	1,355,198	1,357,646	1,359,306	1,308,052	1,300,654	1,039,651	1,039,949	1,009,474	1,014,711	1,010,181	1,012,163	990,548	984,023	981,704	965,500	920,116	799,136	462,655	821,613	150,293	147,381	146,813	143,356	15,211	15,800	16,700	8,700	9,000	9,000	9,000	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	-
Inventory	0	784,883	0	456,073	451,355	0	529,630	0	530,126	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-106,080	0	0	0	0	-123,515	-155,340	0	0	0	-111,556	-215,775	-213,193	-222,218	0	-302,264	-51,550	-130,608	-149,263	-164,829	-72,495	-78,738	-131,887	-125,410	0	0	-123,289	-113,606	0	0	54,077	0	0	0	0	-192,578	0	0	0	0	0	0	0	0	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	24,725,433	24,966,609	25,070,862	23,994,168	24,157,840	24,300,411	24,628,155	24,950,107	24,717,786	25,044,424	23,504,314	23,552,263	23,929,404	24,220,483	24,589,388	26,617,828	24,692,208	24,803,553	22,988,911	22,668,097	22,584,555	22,597,953	22,699,134	23,493,510	23,954,541	23,739,795	23,855,758	23,919,331	23,166,600	23,426,264	22,093,472	22,261,292	22,261,918	22,413,977	24,275,162	24,439,871	21,226,171	20,651,165	19,790,786	19,702,768	19,731,494	19,879,358	18,796,582	18,706,921	18,980,000	18,440,899	18,222,261	17,188,959	17,271,910	17,205,770	4,605,030	5,694,098	5,758,021	5,800,817	5,462,117	5,633,825	5,616,245	5,587,310	5,570,861	5,593,846	5,769,984	5,814,848	5,717,061	5,651,788	5,716,628	5,661,620	5,671,453	3,286,167	3,253,800	2,808,415	2,660,972	2,661,604	2,639,118	2,658,130	2,625,455	1,174,198	1,126,935	1,091,345	1,073,003	1,007,319	812,850	774,400	800,602	878,094	895,780	857,243	880,869	891,632	941,859	962,782	901,133	981,145	981,145	1,005,951	1,034,266	1,024,288	1,071,199	1,052,000	1,018,200	999,500	960,000	960,000	962,000
Long Term Debt	13,476,890	13,388,498	13,354,740	12,342,506	12,296,780	12,210,984	12,328,140	12,413,743	12,027,544	12,078,835	11,501,313	11,759,299	11,895,412	12,047,919	12,530,036	14,172,279	12,158,773	12,053,184	10,256,092	10,690,176	10,733,699	10,478,455	10,402,897	11,039,812	11,276,062	11,424,145	11,907,997	11,943,733	11,127,326	11,252,327	10,901,131	11,247,730	11,206,996	11,268,560	11,507,861	11,603,925	10,888,092	10,469,106	9,602,439	9,481,051	9,364,992	9,413,318	8,420,073	8,295,908	8,413,646	7,494,774	7,204,727	6,430,364	6,109,799	6,313,141	5,007,080	2,571,368	2,900,044	2,895,547	2,580,849	2,698,171	2,467,119	2,615,142	2,616,304	2,942,401	2,996,777	3,135,350	3,251,418	3,157,111	3,167,398	3,267,705	3,284,642	2,370,418	2,198,847	2,007,128	1,882,909	1,854,551	1,786,890	1,811,319	1,832,684	877,642	838,385	853,774	851,675	782,362	637,150	679,362	720,160	750,442	704,550	785,924	807,663	831,544	846,039	850,016	850,420	851,385	886,385	923,368	923,368	923,368	0	0	0	0	0	0	-
Long Term Debt Total	0	13,388,498	13,354,740	12,342,506	12,296,780	12,210,984	12,328,140	12,413,743	12,027,544	12,078,835	11,761,545	11,759,299	11,895,412	12,047,919	12,530,036	14,172,279	12,158,773	12,053,184	10,256,092	10,690,176	10,733,699	10,478,455	10,402,897	11,039,812	11,276,062	11,424,145	11,907,997	11,943,733	11,127,326	11,252,327	10,901,131	11,247,730	11,206,996	11,268,560	11,507,861	11,603,925	10,888,092	10,469,106	9,602,439	0	9,364,992	9,413,318	8,420,073	8,295,908	8,413,646	0	0	0	0	6,313,141	5,007,080	2,571,368	2,900,044	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	678,518	579,172	629,184	606,006	22,277,474	547,766	533,705	541,914	22,870,429	507,880	567,304	471,243	21,599,290	254,945	166,039	165,745	45,022	45,905	47,112	48,162	20,637,904	20,596,963	20,763,713	21,652,044	22,058,378	21,934,492	22,054,964	22,123,122	21,192,696	21,520,879	20,314,263	20,609,199	20,578,039	20,634,501	22,239,965	22,287,579	19,907,187	19,421,537	18,389,744	0	18,543,471	18,667,363	17,699,444	17,580,101	17,841,943	0	0	0	0	16,417,628	9,230,185	5,389,043	5,444,114	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,204,133	13,152,227	13,417,060	12,387,060	12,792,886	12,257,718	12,776,202	13,142,797	12,075,053	12,134,616	11,733,192	11,796,064	11,692,002	11,706,831	11,786,124	11,574,521	12,303,606	12,154,358	10,407,862	10,821,708	10,661,422	10,392,348	10,309,213	10,947,269	11,194,707	11,339,082	11,804,644	11,852,449	10,840,619	11,163,048	10,843,809	11,196,029	11,153,973	11,203,329	11,447,329	11,483,700	10,832,744	10,404,511	9,515,804	9,421,260	9,270,176	9,358,646	8,357,652	8,238,218	8,345,738	7,436,244	7,151,924	6,377,140	6,383,309	6,255,659	2,059,539	2,529,469	2,878,232	2,861,757	2,553,055	2,565,442	2,562,704	2,544,253	2,569,781	2,846,595	2,970,882	3,019,427	3,222,150	3,105,764	3,332,165	3,239,132	3,254,504	2,370,418	2,327,807	2,005,128	1,880,977	1,853,085	1,800,923	1,805,555	1,831,882	875,863	839,813	849,969	842,795	780,639	558,458	669,267	710,987	794,858	705,254	781,803	804,327	822,263	829,772	826,189	827,036	798,984	798,984	827,230	807,720	801,720	1,234,653	855,100	906,000	918,900	931,000	960,000	978,000
Net Invested Capital	22,978,954	23,206,057	23,323,122	22,339,497	22,449,748	22,572,343	22,840,736	23,111,149	22,881,929	23,155,551	21,644,244	21,729,454	22,075,579	22,244,771	22,841,248	24,805,221	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	194,108	27,823	27,749	501,004	537,075	735,825	529,630	530,388	530,126	530,439	785,538	785,839	605,567	776,488	681,831	888,626	704,612	989,109	963,407	496,344	495,869	761,452	755,488	1,212,519	1,619,130	1,614,939	1,649,770	1,647,886	702,021	1,048,817	1,210,922	1,205,233	1,050,423	913,647	789,408	905,628	954,610	524,017	519,951	376,074	376,229	542,377	605,116	618,319	635,002	215,775	213,193	222,218	0	302,264	9,595	130,608	149,263	164,829	140,870	147,725	131,887	125,410	125,106	130,076	123,289	113,606	118,565	19,945	2,092	35,556	34,792	35,554	2,466	192,578	35,800	35,870	2,841	52,588	97,020	3,234	3,216	3,269	3,251	3,609	3,772	3,822	3,803	4,158	4,139	4,186	4,170	4,508	3,635	3,589	3,543	3,422	3,422	3,386	3,470	3,629	3,611	0	0	0	7,000	2,000	-
Net Tangible Assets	0	8,431,858	7,696,267	7,866,763	9,373,203	9,318,070	8,388,958	8,592,064	8,438,498	8,938,528	8,540,094	7,950,731	9,364,007	8,807,811	8,252,529	8,538,860	8,362,257	8,517,598	8,724,881	8,025,683	9,353,450	9,550,204	9,732,491	9,838,122	9,990,075	9,868,656	9,522,158	9,552,506	9,627,743	9,654,742	8,863,922	8,760,951	8,713,359	8,755,946	11,226,887	11,297,136	8,852,200	8,711,876	8,824,402	0	8,980,941	9,057,013	9,109,799	9,109,650	9,193,683	0	0	0	0	9,338,579	3,916,718	2,643,404	2,386,726	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-314,071	-652,051	-926,214	-388,874	-396,010	-543,667	-610,838	-904,377	-452,584	-391,184	-86,584	-345,367	89,907	111,077	342,242	-235,199	-320,131	-1,226,608	-481,264	-503,867	-553,115	-809,314	-374,228	166,278	85,960	311,696	423,465	751,559	131,184	176,519	476,738	309,561	262,814	247,699	-60,090	-58,703	-631,121	-329,400	-177,730	-487,206	-500,162	-698,965	-322,568	-235,594	-233,898	-1,235,047	-1,210,607	-1,222,452	-1,261,616	-1,327,278	-512,352	-398,985	-407,020	-413,309	-147,197	-57,318	-61,190	-43,240	-140,393	-114,397	35,492	-46,721	-454,732	-464,653	-121,020	-521,427	-476,862	-126,961	23,867	-156,065	-126,068	-146,534	54,764	-187,236	-136,198	-127,221	25,958	-103,195	-82,120	-109,277	21,366	-108,905	-118,827	-167,917	-124,615	-192,879	-164,664	-96,460	-90,565	-166,584	-135,073	-122,177	0	2,524	28,118	36,277	54,205	62,000	34,000	21,000	-31,000	-18,000	-
Non Current Assets Total	23,857,236	24,403,849	24,811,739	23,277,650	23,405,127	23,269,498	23,890,726	24,194,041	23,962,664	24,000,694	22,098,044	22,219,401	22,862,589	22,519,620	22,796,604	22,522,410	23,750,061	23,317,358	21,599,045	22,025,544	21,951,768	21,602,537	21,506,295	22,054,875	21,992,169	21,839,867	21,889,205	21,970,759	22,042,264	21,938,839	20,499,941	20,809,303	20,923,837	21,127,973	23,231,262	22,952,699	19,870,864	19,720,854	18,757,139	19,190,793	19,175,792	19,049,011	17,921,360	17,809,003	18,171,177	18,305,461	18,054,575	17,021,315	17,149,513	17,063,505	4,544,806	5,616,800	5,697,269	5,725,042	5,159,460	5,219,109	5,469,016	5,419,944	5,524,338	5,498,040	5,537,306	5,655,084	282,080	286,153	5,634,217	313,987	309,215	30,394	30,394	30,394	30,394	30,394	30,394	30,394	30,394	30,394	30,394	1,045,729	1,021,010	970,560	681,290	30,394	30,394	30,394	30,394	30,394	30,394	839,171	861,454	905,152	827,596	848,545	0	863,109	875,288	884,157	895,682	906,600	917,600	928,500	979,000	968,000	1,000
Non Current Liabilities Other	0	0	203,927	194,323	12,493,712	201,371	200,112	204,079	12,235,628	220,069	210,052	210,279	12,108,575	249,242	254,685	255,364	256,659	250,768	10,491,065	10,905,169	205	14,790	896	60,023	61,202	9,837	9,812	1,389	1,462	77,608	88,967	12,625	34,340	65,465	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,998,760	13,612,305	13,585,410	12,564,288	12,787,440	12,035,124	12,851,536	12,975,846	12,564,320	12,623,926	12,027,556	11,862,041	12,403,457	12,391,959	13,067,832	11,627,284	12,884,478	11,254,841	10,241,419	11,315,664	11,127,059	10,280,154	10,454,498	11,417,109	11,145,944	11,353,319	11,870,518	12,238,443	11,644,695	11,544,913	11,226,903	11,448,335	11,561,224	11,705,998	12,077,426	11,781,032	10,485,346	10,768,281	9,848,750	9,893,665	9,771,819	9,385,638	8,592,265	8,586,598	8,847,916	7,608,682	7,204,727	6,430,364	6,531,953	6,405,958	1,787,638	2,571,368	2,900,044	2,895,547	2,580,849	2,698,171	2,923,766	2,874,392	2,871,479	3,197,971	3,405,193	3,391,875	3,239,000	3,144,000	3,658,089	3,268,000	3,285,000	2,370,000	2,329,000	2,007,000	1,883,000	1,855,000	1,803,000	1,811,000	1,833,000	878,000	843,000	854,000	852,000	782,000	641,000	679,000	720,000	750,000	708,000	786,000	808,000	832,000	848,000	850,000	850,000	886,000	886,000	923,000	923,000	923,000	974,000	975,000	976,000	977,000	931,000	962,000	978,000
Non Currrent Assets Other	-862,770	22,257,941	22,608,116	20,190,812	20,113,776	19,945,460	20,623,793	20,707,601	20,497,068	20,539,285	18,728,227	19,059,231	19,570,089	19,377,337	19,701,444	19,324,558	20,663,810	20,039,933	18,417,092	18,868,889	759,185	211,359	166,129	580,102	189,275	173,421	144,785	162,083	518,364	158,250	106,463	145,708	18,422,987	160,050	1,712,421	127,260	163,145	129,555	155,844	943,671	946,335	211,074	118,075	118,883	921,685	64,176	34,804	97,666	1,130,478	-148,324	142,742	-27,162	14,272	39,938	-251,829	-252,687	100,641	84,795	170,383	111,574	106,868	78,877	-5,483,223	-5,400,559	-137,386	-5,382,710	-5,368,781	-3,088,953	-3,083,900	-2,666,463	-2,539,090	-2,542,642	-2,526,474	-2,552,635	-2,432,299	-1,127,058	-1,071,132	-1,045,729	-1,021,010	-970,560	-681,290	-730,703	-764,911	-834,594	-845,515	-804,079	-823,067	-839,171	-861,454	-905,152	-827,596	-848,545	0	-863,109	-875,288	-884,157	-895,682	-906,600	-917,600	-928,500	-970,000	-958,000	-961,000
Noncontrolling Interest In Consolidated Entity	0	0	60,062	67,611	68,709	70,553	90,798	95,284	91,375	90,429	101,205	101,465	98,024	90,855	88,698	83,455	99,560	170,203	56,351	56,350	55,737	60,230	60,621	63,229	65,959	66,904	68,094	69,269	68,513	81,906	60,061	56,334	61,100	60,239	66,263	73,074	74,213	74,377	75,549	0	79,530	79,316	80,945	71,463	70,235	0	0	0	0	84,507	2,858	3,043	3,479	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	21,495,938	21,527,403	20,948,784	20,786,799	20,914,660	21,238,224	21,521,262	21,610,896	21,085,798	21,282,281	20,148,840	21,646,866	808,285	860,633	855,935	925,970	881,742	844,020	63,695	625,604	677,973	632,761	21,789,224	22,092,493	21,908,793	21,978,774	22,032,742	21,800,101	22,134,091	20,695,212	20,863,566	21,016,897	21,263,694	22,992,150	23,091,617	20,059,465	19,960,909	19,067,321	19,014,122	19,007,905	19,167,033	18,011,536	17,866,678	17,988,734	17,916,299	17,672,961	16,638,153	16,776,455	16,761,241	8,908,598	5,486,192	5,548,006	5,560,213	5,249,969	5,312,348	5,337,129	5,294,534	5,304,762	5,329,689	5,414,017	5,539,709	5,405,713	5,314,288	5,612,127	5,319,060	5,332,100	3,175,734	2,984,539	2,776,086	2,628,646	2,629,744	2,384,960	2,621,972	2,594,259	1,142,025	946,583	41,811	43,113	35,036	-5,806	733,911	761,035	844,617	749,001	822,728	847,139	-5,079	-14,030	30,214	46,610	41,777	887,111	43,318	39,860	14,854	32,312	25,400	30,600	13,000	-26,000	-12,000	961,000
Other Current Assets	-757,570	-683,883	-403,930	-385,916	-358,281	149,942	-448,904	76,079	-454,855	369,521	130,933	100,411	47,921	55,895	118,129	113,183	131,172	65,053	58,063	63,695	64,641	86,620	79,986	133,573	207,222	145,448	157,912	154,158	135,608	284,773	260,897	130,973	170,956	243,422	300,040	397,997	282,234	279,096	366,099	199,625	239,997	233,298	207,685	221,909	217,469	76,908	114,883	114,420	76,590	84,783	54,666	35,399	38,940	41,985	206,488	213,000	39,832	96,477	0	0	55,866	43,841	0	0	-2,092	0	0	80,039	235,155	-65	0	0	219,282	0	-97,020	-3,234	143,377	-3,269	-3,251	-3,609	51,490	-3,822	-17,678	-14,572	93,078	-38,284	-46,897	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Other Current Liab	9,243	124,783	115,747	-367,255	-321,686	88,540	-281,756	-581,010	10,850	20,518	4,568	3,853	3,246	1,987	5,773	5,007	5,463	1,531	1,216	947	205	14,790	896	60,023	61,202	9,837	9,812	1,389	1,462	77,608	88,967	12,625	34,340	65,465	77,631	77,359	62,097	69,112	56,722	61,083	54,349	62,176	50,860	58,086	47,565	321,442	318,908	329,449	298,416	340,837	-104,193	272,689	260,629	286,099	268,511	288,460	17,974	35,481	11,647	42,121	21,931	46,255	341,601	420,362	20,790	443,999	387,664	83,862	142,544	149,220	118,626	75,274	108,458	115,684	66,290	100,985	105,282	79,926	69,702	92,147	101,438	105,273	108,060	87,484	222,117	177,971	148,347	154,000	185,000	194,000	162,000	213,000	19,846	97,000	91,000	89,000	-311,000	58,000	36,000	37,000	31,000	22,000	22,000
Other Liab	0	114,029	29,702	31,871	127,669	40,717	46,613	156,071	59,259	65,196	204,297	205,744	62,638	201,018	207,948	202,376	363,420	516,722	518,897	578,879	596,976	629,699	635,747	60,023	61,202	9,837	9,812	1,389	1,462	77,608	88,967	12,625	34,340	65,465	0	0	62,097	0	0	0	54,349	0	0	0	47,565	0	0	0	37,694	0	0	0	19,296	0	0	0	4,315	4,628	5,305	6,307	7,057	7,564	8,050	8,700	9,065	9,665	10,219	7,607	8,623	8,780	9,374	10,530	12,120	17,303	22,868	22,015	29,437	34,669	33,290	47,292	43,582	60,667	70,648	107,139	162,069	145,677	108,138	106,742	118,107	150,190	117,524	148,390	148,202	52,178	49,368	48,424	0	0	0	0	0	0	-
Other Stockholder Equity	15,659,065	15,664,397	15,571,227	15,548,462	15,539,241	15,532,656	15,513,607	15,478,467	15,498,956	15,504,170	14,187,257	14,185,903	14,171,262	14,141,074	14,117,172	14,134,790	14,056,321	14,016,820	13,940,117	13,160,550	13,076,528	13,080,979	13,067,826	13,079,667	13,053,015	13,034,527	13,019,023	12,944,501	12,916,955	12,870,488	11,961,951	11,758,247	11,600,271	11,519,637	12,706,850	12,613,671	10,118,795	9,857,415	9,849,301	9,858,571	9,856,675	9,811,082	9,774,966	9,680,985	9,699,797	9,941,030	9,932,839	9,591,344	9,592,836	9,593,515	4,254,137	2,874,871	2,576,095	2,587,367	2,583,412	2,578,110	2,572,392	2,570,146	2,565,928	2,267,387	2,244,139	2,242,343	2,021,056	2,015,661	1,820,668	1,817,715	1,814,637	771,004	766,470	699,094	696,667	694,416	692,650	690,460	687,662	198,622	193,985	187,969	182,179	178,156	111,495	99,723	90,124	89,023	86,909	381,524	402,020	404,241	394,114	397,890	337,539	313,005	0	304,551	293,709	282,855	271,290	-16,700	1,500	1,300	-13,000	-13,000	223,000
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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Property Plant And Equipment Gross	0	0	0	0	0	0	0	0	0	0	328,707	343,072	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	16,919,677	16,723,953	15,747,019	15,913,732	15,996,042	8,580,948	5,243,424	5,279,519	5,273,353	5,018,590	5,071,384	5,114,710	5,080,527	5,098,780	5,130,896	5,172,939	5,319,682	5,483,223	5,400,559	0	5,382,710	5,368,781	3,088,953	3,083,900	2,666,463	2,539,090	2,542,642	2,526,474	2,552,635	2,432,299	1,127,058	1,071,132	1,045,729	1,021,010	963,033	681,290	730,703	743,141	818,043	828,802	769,981	780,340	795,420	806,336	816,740	827,596	838,071	848,545	863,109	873,632	884,157	894,791	906,600	917,600	928,500	939,000	942,000	946,000
Property Plant And Equipment Net	21,461,765	515,035	522,312	499,024	310,307	312,902	315,896	514,347	515,092	523,501	534,191	343,072	556,289	634,201	638,214	642,265	636,421	637,717	608,076	573,071	18,385,483	18,485,839	18,384,031	18,560,016	18,800,293	18,632,125	18,708,771	18,789,307	18,567,484	18,762,981	17,561,109	17,831,940	0	18,107,430	19,755,167	19,852,913	17,683,761	17,612,204	16,725,168	16,888,983	16,877,453	17,007,891	15,992,635	15,869,680	15,912,664	16,919,677	16,723,953	15,747,019	15,913,732	15,996,042	3,932,526	5,243,424	5,279,519	5,273,353	5,159,460	5,219,109	5,114,710	5,080,527	5,098,780	5,130,896	5,172,939	5,319,682	5,483,223	5,400,559	0	5,382,710	5,368,781	3,088,953	3,083,900	2,666,463	2,539,090	2,542,642	2,526,474	2,552,635	2,432,299	1,127,058	1,071,132	1,045,729	1,021,010	963,033	681,290	730,703	743,141	818,043	828,802	769,981	780,340	795,420	806,336	816,740	827,596	848,545	0	863,109	873,632	884,157	894,791	906,600	917,600	928,500	939,000	942,000	946,000
Property Plant Equipment	0	22,088,781	20,663,126	19,344,781	21,160,450	21,277,933	20,048,216	20,290,178	20,447,091	20,095,583	19,843,687	18,766,426	20,550,035	20,644,861	26,711,939	26,571,067	27,125,723	27,172,704	25,352,210	25,061,639	19,481,673	19,388,333	19,481,307	19,646,811	19,909,562	0	0	0	19,626,090	0	0	0	18,913,406	0	0	0	16,316,650	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Retained Earnings	-6,213,803	-5,941,303	-5,688,499	-5,611,067	-5,449,385	-5,223,902	-5,044,569	-4,821,653	-4,679,889	-4,459,630	-4,340,052	-4,257,001	-4,030,376	-3,972,647	-3,816,460	-3,491,696	-3,669,050	-3,384,421	-3,173,287	-3,088,401	-2,930,214	-2,709,293	-2,529,102	-2,413,440	-2,240,698	-2,351,430	-2,688,946	-2,564,936	-2,487,695	-2,420,766	-2,313,287	-2,208,474	-2,111,958	-1,992,848	-1,772,529	-1,660,856	-1,526,388	-1,398,378	-1,294,048	-1,218,967	-1,126,541	-1,021,628	-943,384	-861,434	-777,927	-680,888	-609,487	-500,808	-412,181	-439,015	-2,236,960	-300,382	-255,628	-249,047	-222,853	-196,972	-165,710	-139,478	-109,012	-117,124	-110,407	-95,414	-86,610	-86,698	-47,846	-13,761	21,636	-89,591	-84,176	-83,024	-74,124	-62,308	-50,402	-60,280	-51,746	-48,255	-45,297	-64,473	-62,377	-60,740	-56,790	-112,302	-123,177	-118,137	-134,279	-127,126	-127,731	-137,793	-134,088	-138,899	-117,763	-121,323	-121,323	-17,199	16,655	9,142	6,409	17,400	4,400	-15,800	-10,000	-25,000	-40,000
Retained Earnings Total Equity	0	0	-5,688,499	-5,611,067	-5,449,385	-5,223,902	-5,044,569	-4,821,653	-4,679,889	-4,459,630	-4,340,052	-4,257,001	-4,030,376	-3,972,647	-3,816,460	-3,491,696	-3,669,050	-3,384,421	-3,173,287	-3,088,401	-2,930,214	-2,709,293	-2,529,102	-2,413,440	-2,240,698	-2,351,430	-2,688,946	-2,564,936	-2,487,695	-2,420,766	-2,313,287	-2,208,474	-2,111,958	-1,992,848	-1,772,529	-1,660,856	-1,526,388	-1,398,378	-1,294,048	0	-1,126,541	-1,021,628	-943,384	-861,434	-777,927	0	0	0	0	-439,015	-412,694	-300,382	-255,628	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	14,006	31,677	170,019	465,210	428,230	408,457	380,894	682,985	336,448	419,141	260,232	414,080	193,493	206,069	744,362	3,040,586	848,729	1,431,896	0	0	0	0	10,402,897	11,039,812	11,276,062	11,424,145	11,907,997	11,943,733	11,127,326	0	0	0	11,206,996	0	0	0	10,844,351	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	13,767,595	13,586,164	13,555,708	12,532,417	12,915,450	12,402,864	12,903,275	13,292,396	12,224,778	12,278,386	11,967,029	11,965,725	12,105,329	12,295,174	12,778,948	14,422,636	12,409,969	12,302,421	10,489,849	10,904,222	10,733,699	10,478,455	10,402,897	11,039,812	11,276,062	11,424,145	11,907,997	11,943,733	11,127,326	11,252,327	10,901,131	11,247,730	11,206,996	11,268,560	11,507,861	11,603,925	10,888,092	10,469,106	9,602,439	9,481,051	9,364,992	9,413,318	8,420,073	8,295,908	8,413,646	7,494,774	7,204,727	6,430,364	6,429,116	6,313,141	2,107,052	2,571,368	2,900,044	2,895,547	2,580,849	2,698,171	2,670,101	2,615,142	2,616,304	2,942,401	3,147,694	3,135,350	3,251,418	3,157,111	3,360,499	3,267,705	3,284,642	2,370,418	2,329,053	2,007,128	1,882,909	1,854,551	1,802,564	1,811,319	1,832,684	877,642	843,178	853,774	851,675	782,362	640,562	679,362	720,160	797,941	707,709	785,924	807,663	831,544	848,368	850,016	850,420	886,385	886,385	923,368	923,368	923,368	1,374,247	975,100	976,000	976,900	931,000	962,000	978,000
Short Term Debt	1,264,182	83,765	170,019	465,210	428,230	408,457	380,894	682,985	336,448	419,141	260,232	414,080	193,493	206,069	744,362	3,040,586	848,729	1,431,896	620,546	351,764	856,407	578,159	339,157	813,000	538,700	538,911	516,455	170,731	146,538	232,405	212,382	324,488	180,683	114,052	583,765	451,924	919,099	225,359	179,373	559,299	376,343	447,970	259,616	164,734	540,727	0	0	0	0	0	410,419	0	0	0	0	0	0	-4,628	5,305	0	0	0	-8,050	-8,700	0	-9,665	-10,219	-7,607	-8,194	0	0	-9,953	-10,540	-11,126	-11,713	-12,298	-12,887	0	0	0	0	-16,309	-16,916	47,499	0	0	0	0	0	0	0	0	0	0	0	0	400,000	0	0	0	0	0	-
Short Term Investments	0	0	0	0	537,075	529,317	529,630	530,388	530,126	41,440	255,962	276,951	237,553	280,137	220,630	245,494	237,360	283,970	286,409	56,882	56,378	61,237	263,681	54,881	54,665	54,478	55,518	55,244	55,049	64,556	64,390	64,082	63,679	63,704	63,225	63,322	63,115	62,603	60,962	76,110	84,657	98,200	94,492	99,225	5,400	76,908	114,883	114,420	76,590	84,783	64,261	35,399	38,940	41,985	43,484	41,023	39,832	96,477	94,470	38,275	55,866	43,841	40,038	52,621	54,077	89,807	99,058	80,039	80,039	0	0	0	59,667	0	0	0	25,710	0	0	0	7,575	0	13,875	10,414	16,713	34,098	42,727	43,751	72,204	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	0	0	0	0	0	0	0	0	0	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	24,725,433	24,966,609	25,070,862	23,994,168	24,157,840	24,300,411	24,628,155	24,950,107	24,717,786	25,044,424	23,504,314	23,552,263	23,929,404	24,220,483	24,589,388	26,617,828	24,692,208	24,803,553	22,988,911	22,668,097	22,584,555	22,597,953	22,699,134	23,493,510	23,954,541	23,739,795	23,855,758	23,919,331	23,166,600	23,426,264	22,093,472	22,261,292	22,261,918	22,413,977	24,275,162	24,439,871	21,226,171	20,651,165	19,790,786	19,702,768	19,731,494	19,879,358	18,796,582	18,706,921	18,980,000	18,440,899	18,222,261	17,188,959	17,271,910	17,205,770	4,605,030	5,694,098	5,758,021	5,800,817	5,462,117	5,633,825	5,616,245	5,587,310	5,570,861	5,593,846	5,769,984	5,814,848	5,717,061	5,651,788	5,716,628	5,661,620	5,671,453	3,286,167	3,253,800	2,808,415	2,660,972	2,661,604	2,639,118	2,658,130	2,625,455	1,174,198	1,126,935	1,091,345	1,073,003	1,007,319	812,850	774,400	800,602	878,094	895,780	857,243	880,869	891,632	941,859	962,782	901,133	981,145	981,145	1,005,951	1,034,266	1,024,288	1,071,199	1,052,000	1,018,200	999,500	960,000	960,000	962,000
Total Current Assets	868,197	562,760	259,123	716,518	752,713	1,030,913	737,429	756,066	755,122	1,043,730	1,406,270	1,332,862	1,066,815	1,700,863	1,792,784	4,095,418	942,147	1,486,195	1,389,866	642,553	632,787	995,416	1,192,839	1,438,635	1,962,372	1,899,928	1,966,553	1,948,572	1,124,336	1,487,425	1,593,531	1,451,989	1,338,081	1,286,004	1,043,900	1,487,172	1,355,307	930,311	1,033,647	511,975	555,702	830,347	875,222	897,918	808,823	135,438	167,686	167,644	122,397	142,265	60,224	77,298	60,752	75,775	302,657	414,716	147,229	167,366	46,523	95,806	232,678	159,764	29,268	51,347	82,411	28,573	30,138	80,039	238,867	1,935	1,932	1,466	223,764	5,764	802	1,779	149,958	3,805	8,880	1,723	137,366	10,095	9,173	3,083	116,385	4,121	3,336	57,540	94,435	27,416	26,927	90,823	0	99,524	119,118	125,277	143,205	120,000	70,000	58,000	7,000	4,000	-
Total Current Liabilities	1,182,268	1,214,811	1,185,337	1,105,392	1,148,723	1,574,580	1,173,225	1,181,571	1,207,706	1,253,353	1,492,854	1,618,602	1,247,756	1,540,817	1,121,646	4,274,147	1,262,278	2,712,803	1,871,130	1,146,420	1,185,902	1,804,730	1,567,067	1,272,357	1,876,412	1,588,232	1,543,088	1,197,013	993,152	1,310,906	1,116,793	1,142,428	1,075,267	1,038,305	1,103,990	1,545,875	1,986,428	1,259,711	1,211,377	999,181	1,055,864	1,529,312	1,197,790	1,133,512	1,042,721	1,370,485	1,378,293	1,390,096	1,384,013	1,469,543	572,576	476,283	467,772	489,084	449,854	472,034	208,419	210,606	186,916	210,203	197,186	206,485	484,000	516,000	203,431	550,000	507,000	207,000	215,000	158,000	128,000	148,000	169,000	193,000	137,000	129,000	124,000	107,000	91,000	111,000	116,000	119,000	128,000	171,000	241,000	197,000	168,000	154,000	185,000	194,000	162,000	213,000	213,000	97,000	91,000	89,000	89,000	58,000	36,000	37,000	38,000	22,000	23,000
Total Liab	14,878,392	14,827,116	14,770,747	13,669,680	13,936,163	13,609,704	14,024,761	14,157,417	13,772,026	13,877,279	13,520,410	13,480,643	13,651,213	13,932,776	14,189,478	15,901,431	14,146,756	13,967,644	12,112,549	12,462,084	12,312,961	12,084,884	12,021,565	12,689,466	13,022,356	12,941,551	13,413,606	13,435,456	12,637,847	12,855,819	12,343,696	12,590,763	12,636,491	12,744,303	13,181,416	13,326,907	12,471,774	12,027,992	11,060,127	10,892,846	10,827,683	10,914,950	9,790,055	9,720,110	9,890,637	8,979,167	8,583,020	7,820,460	7,915,966	7,875,501	2,360,214	3,047,651	3,367,816	3,384,631	3,030,703	3,170,205	3,132,185	3,084,998	3,058,395	3,408,174	3,602,379	3,598,360	3,704,208	3,641,098	3,861,520	3,790,862	3,765,726	2,577,253	2,543,924	2,164,740	2,010,976	2,002,837	1,971,799	2,004,019	1,970,295	1,007,468	966,711	961,172	943,375	893,426	756,535	798,105	847,806	920,860	949,407	982,868	976,244	985,898	1,032,933	1,044,412	1,011,502	1,098,659	1,098,659	1,019,635	1,014,415	1,012,279	1,062,854	1,032,900	1,012,300	1,014,000	969,000	984,000	1,001,000
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	10,804,044	10,932,185	10,798,244	10,442,152	10,483,875	10,528,753	10,570,445	9,749,776	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,463,620	2,484,060	2,502,312	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	9,488,058	9,817,559	9,968,382	9,996,991	10,152,968	10,361,359	10,512,596	10,697,406	10,854,385	11,076,716	9,882,699	9,970,155	10,180,167	10,196,852	10,311,212	10,632,942	10,445,892	10,665,706	10,820,011	10,149,663	10,215,857	10,452,839	10,616,948	10,740,815	10,866,226	10,731,340	10,374,058	10,414,606	10,460,240	10,488,539	9,689,715	9,614,195	9,564,327	9,609,435	11,027,483	11,039,890	8,680,184	8,548,796	8,655,110	8,731,667	8,824,281	8,885,092	8,925,582	8,915,348	9,019,128	9,357,664	9,418,611	9,186,735	9,274,957	9,245,762	2,213,556	2,643,404	2,386,726	2,401,482	2,416,408	2,445,633	2,465,511	2,502,312	2,494,643	2,167,808	2,148,468	2,187,587	1,981,896	1,978,374	1,823,654	1,843,977	1,879,105	708,914	709,876	643,675	649,996	658,767	667,319	654,111	655,160	166,730	160,224	130,173	129,628	113,893	56,315	-23,705	-47,204	-42,766	-53,627	-125,625	-95,375	-94,266	-91,074	-81,630	-110,369	-117,514	0	-13,684	19,851	12,009	8,345	19,100	5,900	-14,500	-9,000	-24,000	-39,000
Treasury Stock	0	0	0	0	-536	0	0	0	0	-40	-320	-789	0	-1,275	-947	-867	-132	-210	0	0	0	-345	-573	-553	-42	0	0	0	-47	-78	0	-59	-2,567	-3,675	-2,048	-2,385	-511	-2,075	0	-162	-221,917	-221,203	-221,129	-223,709	-221,165	0	0	-536	-747	-1,980	0	-8	-748	0	0	-467	-647	-2,502,312	-5	-53	-457	-2	-18	0	-626	-94	0	0	0	0	0	-115	0	-2,216	-9,149	-11,594	-14,918	-16,424	-19,303	-21,789	-50,971	-73,942	-95,029	-99,969	-104,870	-110,829	-127,342	-127,590	-133,030	-133,885	-133,924	-137,537	-145,483	-145,433	-145,427	-145,419	0	0	0	0	0	0	-
Warrants	0	0	271,671	259,886	264,650	258,795	282,542	313,685	280,283	280,344	252,662	244,619	235,490	249,143	231,920	197,701	273,678	236,792	222,662	206,386	188,141	143,242	149,817	132,555	158,490	171,813	182,154	171,384	200,728	209,278	217,686	191,739	196,529	198,832	199,404	257,246	172,016	163,080	169,292	0	156,660	171,921	184,217	194,302	174,555	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Begin Period Cash Flow	170,745	196,597	451,640	146,102	131,464	188,253	286,707	53,023	55,348	94,816	67,908	45,807	21,812	107,397	176,812	28,334	1,246	1,641	3,365	82,104	2,455	18,596	87,401	139,594	338	85,849	112,466	35,182	39,018
Capital Expenditures	259,415	454,069	432,969	528,647	560,647	462,734	431,643	261,103	227,161	194,442	177,355	183,432	629,669	294,296	59,513	70,160	1,354,726	490,679	589,552	323,931	258	308	1,117	0	299	14,581	281,672	135,027	136,893
Cash And Cash Equivalents Changes	0	-22,983	-256,490	304,450	13,158	-56,789	-205,352	233,684	-1,803	-42,138	26,991	22,041	0	-85,750	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-145,568	-146,038	-211,241	-143,578	-110,086	-799,877	-129,141	-18,703	-24,752	-18,815	-25,914	0	-9,582	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	392,717	-25,852	-255,043	305,538	14,638	-56,789	-205,352	233,684	-2,325	-39,468	26,908	22,101	23,995	-85,585	-69,415	148,478	27,088	-395	-1,724	-78,739	79,649	-16,141	-68,805	-52,193	139,256	-85,511	-29,993	77,284	-3,836
Change In Working Capital	-53,598	-40,785	-43,772	121,828	-40,290	-55,715	-40,045	-35,419	53,003	-5,305	23,805	-10,847	-28,843	-3,746	14,835	-15,041	55,240	5,247	24,361	-169	6,215	15,932	-1,524	4,325	9,356	10,755	-65,299	-56,659	-92,448
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	0	0	0	24,238	0	0	0	0	0	0	0	0	0	0	0	0	0	-41,684	4,724	-9,067	10,486	-518	4,720	-3,515	-27,000	-100	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-264	19,916	2,753	0	0	184,238	0	2,400	43,355	-2,309	1,284	-3,478
Change To Liabilities	0	12,112	16,721	190,061	36,403	-32,517	-44,728	-40,979	10,687	-10,622	24,495	-14,603	0	4,499	0	0	0	46,931	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	83,795	-105,437	-100,311	37,056	169,564	21,667	-2,858	25,579	3,749	-3,157	-36,156	0	-6,626	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-47,982	-60,493	-67,957	-66,956	-18,206	-18,214	-9,475	62,311	13,275	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1,165,861	1,210,755	1,215,112	1,130,482	1,068,605	938,525	904,006	909,281	979,111	828,155	753,136	724,832	459,704	214,707	207,611	235,719	237,501	119,653	88,002	54,340	39,510	41,249	40,365	43,603	42,803	29,049	123,865	99,533	89,478
Dividends Paid	-723,559	720,319	686,888	928,809	1,157,720	1,127,143	827,285	1,024,968	1,003,413	875,614	802,123	728,546	523,602	344,167	324,268	288,849	286,188	160,598	125,843	103,523	80,247	50,125	65,266	42,434	26,489	0	1,153,330	10,495	2,779
End Period Cash Flow	563,462	170,745	196,597	451,640	146,102	131,464	81,355	286,707	53,023	55,348	94,816	67,908	45,807	21,812	107,397	176,812	28,334	1,246	1,641	3,365	82,104	2,455	18,596	87,401	139,594	338	82,473	112,466	35,182
Exchange Rate Changes	0	0	0	0	0	-815	312	-852	-522	2,670	-83	60	0	165	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	935,128	666,094	593,147	921,529	877,136	918,733	1,010,537	1,106,354	1,164,606	1,060,403	1,017,400	809,384	143,528	153,326	362,588	294,015	-954,916	-251,812	-365,788	-173,973	137,108	116,077	78,776	85,338	103,281	72,176	-10,741	48,512	-23,256
Investments	-275,285	-113,462	-111,444	-282,974	-244,561	634,999	-708,242	158,635	-11,450	-500,435	293,048	-371,839	0	-14,036	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	108,455	25,007	617,438	55,362	942,085	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	468,801	-420,789	-409,012	363,505	321,463	384,783	-35,637	329,029	1,382,295	779,748	84,938	0	69,928	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	-40,973	-40,931	56,559	441,185	439,297	415,981	1,361,112	651,490	419,222	477,186	454,889	361,775	363,261	249,729	269,360	226,288	282,318	132,703	130,583	122,270	162,837	76,783	51,888	-61,245	42,535	34,809	137,762	48,005	23,202
Other Cashflows From Financing Activities	106,532	1,038,961	1,620,697	142,408	3,572,319	-40,151	-44,986	4,542	-211,182	-4,951	-35,249	-17,329	-20,093	640,169	3,906	3,330	12,475	-32,200	-2,320	164,000	-55,222	-630,698	-41,746	5,359	21,605	-19,031	2,306,453	19,128	590,098
Other Cashflows From Investing Activities	0	-67,189	1,285	896,330	178,034	418,138	543,600	300,561	346,033	1,135	-57,192	-275,355	0	100,496	0	2,092	374	0	154	0	0	6,950	3,420	189	0	0	0	0	0
Other Non Cash Items	107,535	-18,243	-232,525	-162,821	-4,834	95,739	-745,837	-144,626	-36,722	-56,754	-45,900	-97,442	-9,134	5,155	5,985	-53,741	222	-18,736	-19,182	-26,483	-71,196	-17,579	-10,836	98,655	8,886	-12,230	21,439	127,474	116,975
Sale Purchase Of Stock	41,837	-19,750	-96	-575	-2,203	-1,370	1,496,432	893,218	3,912,747	2,547,910	2,767,546	2,795,343	1,881,092	-7,264	365,682	213,628	1,460,418	449,005	650,200	0	0	620,300	225,000	0	173,143	0	-81,651	-55,305	-91,268
Stock Based Compensation	30,987	30,715	31,966	21,487	33,923	29,963	26,543	20,958	19,537	20,994	20,653	20,784	19,346	14,078	11,882	9,976	7,493	0	0	0	0	0	0	0	0	3,223	0	0	0
Total Cash From Financing Activities	-563,880	-283,928	-558,466	-1,300,021	160,674	-1,761,937	-671,327	101,722	1,030,122	758,057	114,996	1,198,914	248,282	-231,452	-490,180	-80,247	805,649	242,712	389,553	69,998	-217,418	-98,386	-151,458	-142,890	35,305	-85,511	932,736	-25,269	94,169
Total Cash From Operating Activities	1,194,543	1,120,163	1,026,116	1,450,176	1,437,783	1,381,467	1,442,180	1,367,457	1,391,767	1,254,845	1,194,755	992,816	773,197	447,622	422,101	364,175	399,810	238,867	223,764	149,958	137,366	116,385	79,893	85,338	103,580	86,757	270,931	183,539	113,637
Total Cashflows From Investing Activities	0	-859,218	-724,140	154,295	-1,585,299	324,496	-976,517	-1,234,643	-2,423,692	-2,055,040	-1,282,760	-2,169,689	-997,439	-301,920	-1,746	0	0	0	0	0	159,701	0	2,760	5,359	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
Begin Period Cash Flow	491,746	210,347	195,281	170,745	195,638	176,031	199,447	196,597	196,522	274,768	210,212	451,640	628,490	1,029,136	2,886,259	146,102	208,596	138,296	140,231	131,464	148,547	158,103	163,582	188,253	85,063	103,353	91,284	286,707	89,279	57,322	51,701	53,023	65,231	60,532	120,225	55,348	64,595	86,635	59,791	94,816	54,672	62,421	57,690	67,908	58,530	52,803	53,224	45,807	57,482	47,513	41,899	21,812	33,790	27,794	132,729	107,397	70,889	46,523	95,806	176,812	115,923	29,268	51,347	28,334	28,573	30,138	-941,415	1,246	1,935	1,932	1,466	1,641	5,764	802	1,779	3,365	3,805	8,880	1,723	82,104	10,095	9,173	3,083	2,455	4,121	3,336	9,281	18,596	23,827	23,384	55,098	96,138	96,138	115,648	121,648	139,594	119,900	70,100	58,500	300	2,000	0	-
Capital Expenditures	99,046	64,098	128,424	112,656	172,320	108,867	98,563	74,319	109,009	118,944	116,744	88,272	124,273	170,457	112,899	121,018	231,015	157,025	101,000	71,607	159,361	105,662	103,205	94,506	137,833	94,589	88,934	110,287	91,409	53,090	58,116	58,488	60,891	60,211	51,421	54,638	66,832	47,661	39,867	40,082	52,014	44,598	39,360	41,383	69,430	273,966	912,697	10,519	256,324	89,645	553,420	7,963	41,896	222,407	13,838	16,155	28,601	7,526	11,129	12,257	10,699	49,265	3,293	6,903	2,623,816	165,912	2,427,553	30,351	426,367	101	15,857	48,354	9,591	98,181	450,641	31,139	43,095	280,830	24	30	261	220	3	41	72	101	59	76	897	51	74	95	0	0	0	0	1	0	200	100	0	0	0
Cash And Cash Equivalents Changes	0	0	14,522	24,430	-25,616	22,207	-22,183	2,609	-850	-77,318	63,764	-242,086	-178,889	-401,524	-1,858,070	2,742,933	-63,578	69,904	-1,935	8,767	-17,083	-9,556	-5,479	-24,671	-3,708	-18,290	12,069	-195,423	197,428	31,957	5,621	-1,322	-11,686	4,796	-60,097	65,184	0	0	27,797	0	40,168	-7,779	4,771	-10,169	0	0	0	0	0	30,978	-15,205	19,994	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-88,422	-40,675	-30,064	-43,529	-34,861	-37,114	-20,738	-66,055	-40,058	-19,187	-33,670	-80,214	69,824	-167,181	-17,479	-14,287	-93,547	-18,265	13,353	-81,821	-43,167	1,549	-261,221	-514,447	29,966	-54,175	-66,012	-20,339	-2,615	-40,175	15,499	8,181	-32,462	-9,921	0	0	-3,764	0	27,256	-16,996	-18,779	-10,296	0	0	0	0	0	-37,169	-22,568	-3,091	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	71,716	281,399	15,066	24,536	-24,893	19,607	-23,416	2,850	75	-78,246	64,556	-241,428	-176,850	-400,646	-1,857,123	2,740,157	-62,494	70,300	-1,935	8,767	-17,083	-9,556	-5,479	-24,671	-3,708	-18,290	12,069	-195,423	197,428	31,957	5,621	-1,322	-12,208	4,699	-59,693	64,877	-9,247	-22,040	26,844	-35,025	40,144	-7,749	4,731	-10,218	9,378	5,727	-421	7,417	-11,675	9,969	5,614	20,087	-11,978	5,996	-104,935	25,332	36,508	24,366	-49,283	-81,006	60,889	86,655	-22,079	23,013	-239	-1,565	971,553	-64,163	-689	3	466	-175	-4,123	4,962	-977	-1,586	-440	-5,075	7,157	-80,381	72,009	922	6,090	628	-1,666	785	-5,945	-9,315	-5,231	443	-31,714	-8,737	-8,737	-19,510	-6,000	-17,946	19,694	49,800	11,600	58,200	-2,100	2,400	-
Change In Working Capital	-11,348	-1,917	11,794	-52,127	-1,821	-4,649	-5,562	-28,753	-13,203	-24,994	24,149	-29,724	-4,718	164,808	15,073	-53,335	-19,072	-13,426	20,469	-28,261	21,777	-47,117	27,569	-57,944	-15,858	-18,793	27,332	-32,726	-299	1,195	37,068	-73,383	25,426	38,683	-7,913	-3,193	7,771	19,203	-7,203	-25,076	57,983	34,869	-7,250	-61,797	19,622	-17,844	-14,242	1,617	-22,850	3,007	-23,102	14,102	-15,996	23,707	-19,970	8,513	-7,416	27,245	-21,491	16,497	-27,311	28,851	-30,947	14,366	-31,673	97,667	-27,897	17,143	-6,854	15,929	-19,582	15,754	-13,138	20,668	-1,647	18,478	-14,513	14,569	-6,207	5,982	12,238	2,106	4,662	-12,791	-7,155	13,148	8,356	1,583	-1,685	-1,950	1,111	418	-116,000	2,672	-24,940	26,175	14,356	23,000	-25,800	-2,200	-16,000	1,000	4,600
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	0	0	0	0	0	0	0	0	0	0	-8,961	-8,902	24,238	34,654	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-15,728	0	0	15,728	-16,326	25,972	6,890	-16,536	-22,726	-15,555	-912	-2,491	5,664	2,112	-10,543	7,491	-8,226	2,340	-48	-3,133	-851	1,315	10,558	-536	-17,482	21,063	-4,624	525	6,233	-12,591	11,485	-27,472	-27,472	25,674	-27,075	25,358	-25,900	11,600	-12,100	-600	0	0	-
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,596	0	0	0	-23,958	51,097	-29,286	0	-12,365	15,461	-21,087	17,727	-17,583	36,094	-16,214	17,619	-5,846	7,927	-4,899	5,571	-11,840	26,757	-16,045	7,343	-24,381	30,374	0	0	176,084	-10,104	0	-27,805	0	30,895	0	0	98,456	69,500	23,100	35,900	0	0	-
Change To Liabilities	0	28,782	12,250	-35,242	-2,357	16,162	8,883	-10,576	-24,175	-1,561	30,165	-24,624	-4,713	240,642	13,768	-39,567	-1,745	1,468	51,237	-14,557	10,096	24,375	84	-67,072	-21,856	23,305	-12,150	-34,027	11,201	4,834	16,571	-73,585	13,586	12,126	-614	-14,411	-18,580	0	-16,666	0	30,541	46,586	-1,294	-51,338	0	0	0	0	0	23,604	-18,230	15,642	0	0	0	0	0	0	0	0	0	0	0	0	0	22,628	0	33,679	46,931	0	0	20,218	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Change To Netincome	0	70,030	-26,571	13,549	15,406	20,030	58,881	-10,522	15,051	-81,862	-39,439	17,382	-45,281	28,928	125,806	-206,218	5,581	40,304	-8,132	-697	27,459	37,995	47,593	56,517	7,691	6,925	2,509	4,542	-2,870	-758	1,986	-1,216	516	18,657	5,646	760	133,449	0	2,044	0	317	-710	-3,301	537	0	0	0	0	0	28,333	-1,722	16,436	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-30,699	-30,699	-30,699	18,223	-31,575	-3,252	-31,378	10,972	-40,115	-6,016	-25,334	13,246	-75,834	31,431	-36,800	8,319	-42,201	-1,323	-31,751	34,181	-63,659	22,533	-11,261	-18,214	-39,394	42,939	-3,714	-9,475	-8,856	15,444	0	62,311	0	0	0	13,275	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	1,165,861	297,677	309,504	286,273	327,652	304,552	286,378	292,173	321,982	318,163	255,547	319,420	267,474	254,924	349,594	252,688	354,985	239,926	231,643	242,051	249,635	223,456	228,507	236,927	237,522	218,009	228,232	220,243	235,372	210,874	224,202	238,833	239,190	242,352	250,635	246,934	241,595	203,548	191,101	191,911	197,187	184,418	189,917	181,614	193,131	165,296	211,877	154,528	166,163	213,220	26,126	54,195	64,365	50,563	52,398	54,691	59,301	52,268	50,675	50,516	61,607	44,645	61,086	68,725	75,000	70,716	58,352	33,433	32,421	30,849	28,516	27,867	31,174	26,597	17,601	12,630	19,106	13,495	11,508	10,231	9,434	10,507	9,434	10,135	10,424	10,144	10,842	9,839	9,895	9,883	10,089	11,864	11,864	10,542	10,544	10,653	5,203	12,400	12,400	12,800	10,800	10,800	7,100
Dividends Paid	-181,323	-180,533	180,281	181,422	180,114	180,107	180,077	180,021	179,916	169,134	169,075	168,763	168,446	168,078	295,981	296,304	295,931	294,647	284,268	282,874	281,895	281,853	281,760	281,635	832,962	276,320	275,597	275,368	274,566	256,931	247,975	245,496	243,838	243,171	261,494	254,910	235,200	213,462	213,479	213,473	213,353	196,540	196,530	195,700	179,271	185,077	183,833	180,365	164,632	207,153	55,689	94,087	92,246	84,092	86,236	85,870	90,182	82,743	85,293	73,546	73,468	73,499	70,976	70,906	63,486	63,411	66,820	92,471	160,596	41,141	41,074	78,383	37,255	88,588	61,090	27,498	103,522	27,393	27,292	48,838	80,246	21,336	21,169	37,742	50,124	16,488	16,407	17,230	15,148	15,148	15,124	1	1	42,435	0	0	11	0	0	0	0	0	-
End Period Cash Flow	563,462	491,746	210,347	195,281	170,745	195,638	176,031	199,447	196,597	196,522	274,768	210,212	451,640	628,490	1,029,136	2,886,259	146,102	208,596	138,296	140,231	131,464	148,547	158,103	163,582	81,355	85,063	103,353	91,284	286,707	89,279	57,322	51,701	53,023	65,231	60,532	120,225	55,348	64,595	86,635	59,791	94,816	54,672	62,421	57,690	67,908	58,530	52,803	53,224	45,807	57,482	47,513	41,899	21,812	33,790	27,794	132,729	107,397	70,889	46,523	95,806	176,812	115,923	29,268	51,347	28,334	28,573	30,138	-62,917	1,246	1,935	1,932	1,466	1,641	5,764	802	1,779	3,365	3,805	8,880	1,723	82,104	10,095	9,173	3,083	2,455	4,121	3,336	9,281	18,596	23,827	23,384	87,401	87,401	96,138	115,648	121,648	139,594	119,900	70,100	58,500	-100	2,400	-
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-26	234	-362	-52	-406	5	-110	-2,714	3,300	-164	-409	-286	-275	118	-283	-336	404	-307	0	0	-953	0	-24	30	-40	-49	0	0	0	0	0	-198	8	93	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	180,038	296,717	183,403	130,161	94,933	191,411	179,516	200,234	156,792	112,515	174,519	149,321	171,490	263,945	292,660	193,434	123,220	197,304	292,099	264,513	204,484	201,624	299,112	213,513	218,108	254,394	312,591	225,444	274,778	291,705	325,468	214,403	308,831	244,110	322,134	289,531	268,041	276,609	271,414	244,339	307,312	283,143	238,023	188,922	283,497	-25,455	-696,850	234,442	72,972	211,406	-541,339	122,806	59,607	-84,005	78,318	99,406	70,303	120,529	71,871	99,885	57,000	76,029	63,263	97,723	2,675,653	16,222	-2,349,895	57,830	-365,746	72,902	20,230	20,802	42,611	-26,801	-408,524	26,926	-17,692	-226,800	30,864	39,655	29,779	33,612	38,173	35,805	19,626	40,123	32,226	24,102	17,672	17,820	20,281	23,103	23,103	22,700	-6,001	45,536	23,481	28,400	12,500	38,900	34,300	26,800	25,700
Investments	-43,276	40,928	20,767	8,273	-86,726	-14,564	16,558	-28,730	-22,151	245,142	-29,859	-22,219	-268,961	-161,455	-60,637	92,257	5,893	-32,029	-214,756	-3,669	25,881	-5,392	514,898	99,612	-16,171	40,143	-19,369	-712,845	119,521	183,920	-217	-144,589	-94,491	-11,800	42,358	52,483	-80,598	0	-60,168	0	23,116	78,728	47,599	143,605	0	0	0	0	0	-363	-500,512	43,000	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	-
Issuance Of Capital Stock	0	83,448	0	0	0	0	0	0	0	603,188	3,175	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	116,582	-59,558	32,501	23,520	89,525	4,347	351,409	-62,510	-132,299	-38,041	-211,114	-291,809	-538,763	-1,792,877	2,214,452	47,745	843,465	-458,612	-69,093	1,178,438	28,670	-1,159,488	273,843	193,559	-525,518	-76,414	793,156	-82,365	22,424	-113,136	137,440	1,119,435	-469,072	131,563	-452,897	1,396,515	0	-313,765	0	-34,001	874,735	47,660	-108,646	0	0	0	0	0	129,491	682,074	-316,753	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-90,819	-71,124	105,066	18,912	-43,384	3,063	-41,202	40,592	-39,107	62,774	88,288	-55,398	111,953	13,737	-159,235	474,730	12,893	86,918	211,898	127,588	63,302	103,281	169,300	80,098	393,805	615,191	152,968	199,148	208,832	150,184	143,440	149,034	125,060	23,005	150,350	120,807	107,645	109,701	138,566	121,274	108,659	118,599	114,533	113,098	86,126	111,821	73,736	90,092	192,497	91,456	19,734	49,046	78,702	58,894	58,965	53,168	54,778	50,430	89,183	74,969	58,475	64,695	71,066	32,052	29,401	28,014	179,797	45,106	40,797	32,241	30,531	29,134	47,221	28,721	27,068	27,573	46,674	26,667	25,654	23,275	77,208	32,212	16,129	37,288	13,602	17,093	34,444	11,644	24,337	8,867	8,105	-84,278	-84,278	8,581	7,512	6,940	-10,965	13,000	20,200	20,300	13,700	12,900	200
Other Cashflows From Financing Activities	-14,643	-855	1,099,539	363,191	110,106	179,486	329,099	410,403	-18,929	785,526	77,832	225,696	73,317	-452,412	-1,281,351	-12,200	1,058,217	1,522,572	-5,618	-13,011	296,005	-12,881	-6,442	-16,857	883,448	39,438	-10,346	798,939	-3,533	7,979	-1,913	2,009	-3,996	-147,338	-43,687	-16,161	21,520	1,299,665	501,982	179,589	-13,786	56,850	93,328	-14,459	950,956	549,732	11,064	664,277	2,823	-1,171	-3,890	144	439,321	199,123	89,563	33,719	62,931	-13,460	2,114	12,850	-2,967	1,729	136,179	1,866	156,969	-1,524,000	1,388,060	-8,554	-15,300	-94,700	77,833	-33	4,280	-60,501	-6,331	-268	156,426	119,000	136,478	51,672	-8,575	-53,850	14,221	-2,872	521,425	-23,935	581,574	601	-2,515	-2,449	-36,245	2	2	225	1	13	74	21,500	-300	146,700	-28,900	-18,400	-38,400
Other Cashflows From Investing Activities	0	258,620	-15,387	4,526	65,109	-55,383	-49,702	-27,213	784	336,375	384	-21,585	308,100	-9	-24,365	598,692	80,022	6,668	70,795	20,549	23,138	73,636	144,467	176,897	5,647	661,652	-25,157	-98,542	337,573	-26,629	-25,562	15,179	50,839	89,443	73,054	132,697	4,590	0	2,137	0	-18,559	-19,920	-10,551	-8,162	0	0	0	0	0	-8,310	-6,676	3,282	0	0	0	0	0	0	0	0	2,092	322	340	0	374	322	340	0	0	0	0	0	154	1,839	2,510	966	0	503	0	0	0	317	336	0	6,950	0	0	0	3,420	0	0	0	189	225	0	0	0	0	0	0	0	0	-
Other Non Cash Items	-794,260	134,687	-108,352	-21,002	-12,736	-3,096	37,039	-39,450	-3,792	-131,330	-84,121	-13,280	-80,828	-257	143,938	-219,872	-3,155	31,770	-21,501	-11,948	49,491	29,325	-28,566	45,489	-218,168	-463,436	-10,743	-53,490	-79,396	-13,917	-13,847	-37,466	-11,763	7,889	-14,012	-18,836	-12,489	-11,576	-19,524	-13,165	-11,418	-11,575	-12,891	-10,016	-16,082	-7,336	-56,609	-17,415	-15,461	-812	-49,915	12,607	20,577	2,856	-1,885	-4,129	7,064	-1,253	5,751	-32,352	-41,397	-1,408	-54,947	-2,428	139,506	-14,115	-146,228	-8,611	-5,743	-6,794	-4,150	-4,369	-13,055	-4,606	-905	-616	-25,864	-701	-115	197	-69,362	-12,021	7,945	1,214	2,827	-161	-21,357	1,112	-13,978	1,071	1,050	95,099	94,488	905	883	1,768	14,886	-20,000	5,900	8,100	5,600	2,100	13,800
Sale Purchase Of Stock	41,837	209,426	15,191	1,488	-1,012	-19,595	-973	1,830	96	-34	-37	-25	575	-5	-3,430	-570	-165	-361	107,393	901,089	1,370	-395	-320	-655	4,846	-2,917	572,929	-308	-30,127	482,824	302,936	137,585	1,686	2,803,090	15,138	1,092,833	540,203	0	7,145	0	1,000,702	848,389	1,584	916,871	342,469	342,469	601,985	0	489,339	150,350	1,226,773	14,630	0	0	0	0	360,681	299,201	291,914	0	611,809	4,005	0	5,001	-49,450	1,501,553	-143,185	151,500	385,996	221,531	-52,600	54,674	193,300	0	494,100	23,300	103,522	0	0	39,850	106,696	26,064	-59,300	86,700	45	0	-5	-40	225,000	0	0	0	0	0	0	0	0	0	0	0	0	100	100
Stock Based Compensation	5,689	4,909	5,329	15,060	1,929	6,185	6,805	15,796	5,801	4,700	5,393	16,072	4,165	5,765	1,043	10,514	7,253	8,195	10,070	8,405	9,202	6,488	7,149	7,124	6,620	6,527	6,695	6,701	5,073	5,848	5,008	5,029	3,476	4,869	4,885	6,307	4,202	5,381	5,367	6,044	5,643	4,210	5,138	5,662	4,255	5,443	6,252	4,834	5,750	9,890	-310	4,016	3,950	4,039	3,057	3,032	2,667	3,078	3,078	3,059	2,160	3,326	9,610	1,949	-169,860	9,315	8,023	2,014	0	6,539	6,287	758	0	0	0	0	0	0	0	0	0	354	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Total Cash From Financing Activities	-174,509	6,583	-225,978	-162,107	-158,972	-112,010	-178,328	165,382	-258,854	286,461	-209,006	-377,067	-442,322	-674,471	-2,094,528	1,911,300	-254,393	629,935	44,895	-259,763	-40,117	-255,829	-962,743	-503,248	-93,073	-805,871	-275,458	503,075	-428,493	945,667	-307,872	-107,580	-212,520	958,532	-345,435	629,545	476,036	500,079	-116,401	-101,657	-214,499	698,991	-69,549	-299,947	681,662	-3,969	718,508	-197,287	-186,508	81,141	496,105	-142,456	-80,133	114,516	-204,764	-61,071	5,529	-97,824	-127,460	-270,425	-34,700	29,778	-859	-74,466	-3,443	-98,298	971,553	-64,163	208,194	84,071	-24,737	-24,816	-59,549	27,003	424,756	-2,657	-7,221	-24,795	45,598	56,416	-35,618	-52,583	-94,005	-35,212	47,559	-40,999	-70,852	-34,094	-26,277	-18,001	-52,334	-36,974	-36,974	-42,435	1	-63,482	-3,795	20,700	-900	19,300	-28,900	-18,300	-38,300
Total Cash From Operating Activities	279,084	360,815	311,827	242,817	267,253	300,278	278,079	274,553	265,801	231,459	291,263	237,593	295,763	434,402	405,559	314,452	354,235	354,329	393,099	336,120	363,845	307,286	402,317	308,019	355,941	348,983	401,525	335,731	366,187	344,795	383,584	272,891	369,722	304,321	373,555	344,169	334,873	324,270	311,281	284,421	359,326	327,741	277,383	230,305	283,497	248,511	215,847	244,961	329,296	301,051	12,081	130,769	101,503	138,402	92,156	115,561	98,904	128,055	83,000	112,142	67,699	125,294	66,556	104,626	51,837	182,134	77,658	88,181	60,621	73,003	36,087	69,156	52,202	71,380	42,117	58,065	25,403	54,030	30,840	39,685	29,518	33,832	38,170	35,846	19,698	40,224	32,285	24,178	18,569	17,871	20,355	23,103	23,103	22,700	-6,001	45,536	23,480	28,400	12,700	39,000	34,300	26,800	25,700
Total Cashflows From Investing Activities	0	-141,388	-71,327	-56,280	-133,897	-166,061	-121,934	-437,326	-7,797	-595,238	-18,493	-102,612	-32,330	-161,455	-169,101	517,181	-163,420	-914,152	-439,903	-67,824	-340,449	-60,961	555,353	170,553	-266,466	441,312	-117,298	-1,034,065	260,143	-1,258,219	-69,816	-166,751	-169,127	-1,257,818	-88,217	-908,530	-2,055,040	-1,236,170	-167,083	0	-104,659	-1,034,511	-203,063	59,473	-2,169,689	-1,213,906	-975,051	0	-997,439	-98,318	-776,287	31,681	0	0	0	-30,005	-1,746	66,184	72,315	77,393	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	159,701	81,592	61,919	0	0	34,783	33,223	601	2,760	283	0	0	5,359	225	0	0	0	0	0	0	0	0	-

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31	1995-12-31
Cost Of Revenue	3,727,107	2,282,918	2,088,497	1,939,758	1,810,527	1,691,298	1,486,463	1,442,073	1,410,205	1,212,190	1,117,947	979,225	678,643	325,471	302,813	306,944	198,125	148,960	115,499	68,496	56,152	56,774	58,674	112,357	0	0	0	0	0
Depreciation And Amortization	1,165,861	1,197,798	1,215,112	1,130,482	1,068,605	938,525	904,006	909,281	979,111	828,155	753,136	724,832	459,704	214,707	207,611	235,719	237,501	119,653	88,002	54,340	39,510	41,249	40,365	43,603	42,803	29,049	123,865	99,533	89,478
Discontinued Operations	0	0	0	0	0	-10	-110	-922	11,103	2,106	-35,421	57,227	0	27,797	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	665,115	454,078	389,304	592,577	865,762	861,089	1,043,635	970,020	834,724	875,835	835,801	693,639	721,171	425,511	384,271	348,469	327,548	265,170	225,661	99,955	119,680	129,824	144,722	322,512	135,131	111,964	327,202	48,005	8,363
Ebitda	1,830,976	1,651,876	1,604,416	1,723,059	1,934,367	1,799,614	1,947,641	1,879,301	1,813,835	1,703,990	1,588,937	1,418,471	1,180,875	640,218	591,882	584,188	565,049	384,823	313,663	154,295	159,190	171,073	185,087	366,115	177,934	141,013	451,067	147,538	97,841
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	26,022	69,397	758,375	97,281	29,683	2,106	0	57,227	1,683	27,797	71,749	44,474	135,623	0	5,336	20,727	66,019	12,754	0	0	0	0	0	0	0
Gross Profit	770,720	1,846,275	1,739,510	1,855,599	2,062,223	2,054,512	2,087,686	2,001,449	1,876,193	1,863,556	1,692,106	1,506,074	1,086,348	691,396	628,762	622,822	573,666	418,449	324,719	232,911	205,003	196,704	204,581	242,322	233,245	149,933	3,116,004	2,577,783	2,323,956
Income Before Tax	-98,090	-57,857	61,386	344,651	382,987	376,038	584,150	522,866	350,255	448,378	478,482	298,266	330,441	227,133	194,266	145,285	120,351	130,583	120,900	100,173	96,734	50,688	54,283	-61,245	42,535	55,960	224,466	83,180	32,364
Income Tax Expense	-9,539	-16,926	4,827	-96,534	-56,310	-39,953	-59,799	-31,343	-39,284	-8,732	-11,828	-6,282	-31,137	5,201	-1,719	-15,885	-28,042	132,467	93,527	43,515	-22,909	-2,200	2,685	243,745	91,296	21,151	89,338	35,175	24,001
Interest Expense	586,412	467,557	440,089	469,541	451,662	442,497	448,196	419,740	367,114	376,842	334,484	293,401	236,807	178,863	176,990	203,184	204,218	0	0	0	80,197	86,175	0	0	0	0	0	0	0
Interest Income	0	439,057	435,106	7,609	10,984	24,892	6,034	876	368,534	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-10,676	6,516	7,551	2,036	6,281	6,514	224,449	2,259	1,379	1,419	1,380	-1,025	0	3,562	2,865	2,684	1,698	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	-40,973	-40,931	49,008	439,149	433,016	409,467	1,356,470	649,231	417,843	475,767	453,509	362,800	364,493	246,167	266,495	226,288	282,318	131,430	130,583	120,900	162,753	65,706	50,566	-65,452	42,535	26,758	130,933	48,005	-14,889
Net Income Applicable To Common Shares	0	-47,447	49,008	439,149	433,016	409,467	1,356,470	649,231	417,843	475,767	453,509	362,800	362,810	246,167	194,746	181,814	141,496	131,430	125,247	100,173	96,734	52,952	51,888	0	0	0	0	0	0
Net Income From Continuing Ops	-30,297	-40,931	56,559	441,185	439,297	415,991	643,949	554,209	389,539	457,110	490,310	304,548	0	221,932	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-574,112	-467,557	-440,089	-461,932	-440,678	-417,605	-442,162	-418,864	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	8,361	278,087	273,009	50,313	104,501	754	-2,779	-14,411	-65,000	-1,201	-19,486	0	-10,727	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	-51,577	-47,318	-29,812	-15,235	-30,547	-10,535	24,635	102,944	45,051	21,634	63,183	0	19,243	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	665,115	454,078	389,304	592,577	865,762	861,089	622,086	556,786	834,724	875,835	835,801	693,639	51,169	52,215	208,123	145,285	126,324	125,422	100,220	87,096	119,680	129,824	144,722	322,512	135,131	111,964	327,202	48,005	8,363
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	3,832,712	3,645,347	3,406,576	3,203,917	3,022,143	2,762,919	2,509,901	2,467,872	2,432,297	2,160,847	1,955,012	1,804,007	1,043,768	590,692	547,304	581,297	444,243	154,552	100,609	68,496	66,643	69,492	63,266	64,029	100,657	37,969	2,788,802	2,529,778	2,315,593
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
Reconciled Depreciation	1,414,877	1,197,798	1,197,403	1,109,763	1,045,620	919,639	887,948	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	4,226	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	148,876	144,874	129,758	130,158	165,996	151,982	135,490	126,875	128,035	121,746	115,106	98,801	74,537	49,830	38,830	36,425	36,425	26,136	23,104	16,917	12,724	9,763	10,244	9,689	7,767	5,697	0	0	0
Tax Provision	-9,539	-16,926	4,827	-96,534	-56,310	-39,953	-59,799	-31,343	-39,284	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	105,605	1,362,429	1,318,079	1,264,159	1,211,616	1,071,621	1,023,438	1,025,799	1,022,092	948,657	837,065	824,782	365,125	265,221	244,491	274,353	246,118	154,552	100,609	68,496	66,643	69,492	63,266	64,029	100,657	37,969	2,788,802	2,529,778	2,315,593
Total Other Income Expense Net	-763,205	-511,935	-327,918	-247,926	-482,775	-164,356	-31,902	-33,044	-136,732	-89,679	-42,075	-89,625	-153,975	-20,179	-13,015	19,030	-2,979	-1,273	-1,551	64,460	20,164	-79,136	-90,439	-144,219	-1,300	-56,004	-102,736	35,175	24,001
Total Revenue	4,497,827	4,129,193	3,828,007	3,795,357	3,872,750	3,745,810	3,574,149	3,443,522	3,286,398	3,075,746	2,810,053	2,485,299	1,764,991	1,016,867	931,575	929,766	771,791	418,449	324,719	232,911	205,003	196,704	204,581	242,322	233,245	149,933	3,116,004	2,577,783	2,323,956

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

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

Gross Profit (+$)
totalRevenue	4,497,827
Cost of Revenue	-3,727,107
Gross Profit	770,720	770,720

Operating Income (+$)
Gross Profit	770,720
Operating Expense	-105,605
Operating Income	665,115	665,115

Operating Expense (+$)
Research Development	0
Selling General Administrative	148,876
Selling And Marketing Expenses	0
Operating Expense	105,605	148,876

Net Interest Income (+$)
Interest Income	0
Interest Expense	-586,412
Other Finance Cost	-12,300
Net Interest Income	-574,112

Pretax Income (+$)
Operating Income	665,115
Net Interest Income	-574,112
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	-98,090	1,428,320 EBIT - interestExpense = 78,703 -50,512 545,439
Interest Expense	586,412
Earnings Before Interest and Taxes (EBIT)	665,115	488,322
Earnings Before Interest and Taxes (EBITDA)	1,830,976

After tax Income (+$)
Income Before Tax	-98,090
Tax Provision	--9,539
Net Income From Continuing Ops	-30,297	-88,551
Net Income	-40,973
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	3,832,712
Total Other Income/Expenses Net	-763,205	574,112

Technical Analysis of Ventas Inc
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 Ventas Inc. The general trend of Ventas Inc is BEARISH with 85.7% 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 Ventas Inc'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 (-85.7%)		Bearish trend (85.7%)
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 Ventas Inc.

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

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

The bullish price targets are: 44.03 < 44.08 < 44.19.

The bearish price targets are: 41.49 > 41.13 > 40.20.

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Ventas Inc 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 Ventas Inc. The current mas is .

The long score for the Moving Averages is 1/14.
The longshort score for the Moving Averages is -12/(-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 lower than the MA 50. -1
MA 20 < MA 100: The MA 20 is lower than the MA 100. -1
MA 20 < MA 200: The MA 20 is lower 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 lower than the MA 100. -1
MA 50 < MA 200: The MA 50 is lower than the MA 200. -1
MA 100 trending down: The MA 100 is trending down. -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 down: The MA 200 is trending down. -1
Close < MA 200: The price is below 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.

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 Ventas Inc. The current macd is -0.24792252.

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

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Ventas Inc price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Ventas Inc. 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 Ventas Inc 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 up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

Ventas Inc 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 Ventas Inc. The current adx is 10.55.

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

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

Ventas Inc 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 Ventas Inc. The current sar is 43.71.

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

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 Ventas Inc. The current rsi is 48.15. The current phase is Continuation in bear market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

Continuation in bear market: Downtrend continues after a consolidation or pullback. Hold or add to short positions.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

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

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

Original usage

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

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

How you can use RSI (Divergence)

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

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

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

Source: Tradingview.com

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

Use tradingview to add indicators

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

Tradingview

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

View tool on Tradingview.com

RSI divergence

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

There are four types of divergences:

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

Regular bullish divergence

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

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

Source: Tradingview.com

Regular bearish divergence

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

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

Source: Tradingview.com

Hidden bullish divergence

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

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

Source: Tradingview.com

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

Hidden bearish divergence

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

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

Source: Tradingview.com

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

Ventas Inc 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 Ventas Inc. The current phase is Continuation in bear market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Ventas Inc price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Ventas Inc 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 Ventas Inc. The current cci is -56.52230932.

Ventas Inc 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 Ventas Inc. The current cmo is -1.93561764.

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

Ventas Inc 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 Ventas Inc. The current willr is -53.87596899.

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

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

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 Ventas Inc.

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 Ventas Inc. The current atr is 0.97465481.

Ventas Inc 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 Ventas Inc. The current obv is -30,391,091.

Ventas Inc 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 Ventas Inc. The current mfi is 41.69.

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

Ventas Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Ventas Inc.

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

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Ventas Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	48.149
Ma 20	Greater than	Ma 50	42.823
Ma 50	Greater than	Ma 100	43.141
Ma 100	Greater than	Ma 200	45.173
Open	Greater than	Close	42.340
Total			1/5 (20.0%)

Create your own Symbol Scanner

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Quick analysis of Ventas Inc (30 sec.)

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

$42.64

$24.20

$8.27 - $20.45

$32.46 - $44.65

2. Growth of Ventas Inc (5 min.)

Is Ventas Inc growing?

How much money is Ventas Inc making?

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

3. Financial Health of Ventas Inc (5 min.)

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

What can you expect buying and holding a share of Ventas Inc?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Ventas Inc

About Ventas Inc

Financial Health

Valuation

1.1. Profitability of Ventas Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

1.1.2. Return on Assets

Trends

1.1.3. Return on Equity

Trends

1.2. Operating Efficiency of Ventas Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

1.2.2. Operating Ratio

Trends

1.3. Liquidity of Ventas Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

1.3.2. Quick Ratio

Trends

1.4. Solvency of Ventas Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

1.4.2. Debt to Equity Ratio

Trends

2. Market Valuation of Ventas Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

2.2. Price To Free Cash Flow Ratio

Trends

2. Book Value per Share

2.3. Price to Book Ratio

Trends

Ventas Inc
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