Operating ActivitiesSep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23Mar '23Dec '22Sep '22Jun '22

Net Income

7,907

5,833

5,473

6,023

6,397

8,430

Depreciation & Amortization

4,838

4,823

4,713

4,667

4,706

4,531

Share-Based Compensation Expense

1,630

1,517

1,392

1,311

1,256

1,213

Other Adjustments

-66

-412

-421

131

-702

-431

Changes in Trade Receivables

—

—

—

-374

—

—

Changes in Inventories

—

—

—

-166

—

—

Changes in Accounts Payable

—

—

—

-13

—

—

Changes in Other Operating Activities

—

—

—

1,866

—

—

Cash from Operating Activities

13,483

13,282

13,647

13,445

13,578

13,753

Investing ActivitiesSep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23Mar '23Dec '22Sep '22Jun '22

Capital Expenditure

-1,012

-1,043

-1,053

-1,048

-1,045

-1,040

Proceeds from Sale of Property, Plant & Equipment

139

611

619

557

720

353

Purchases of Intangible Assets

-617

-593

-654

-637

-644

-618

Purchases of Investments

-10,171

-9,906

-9,314

-7,762

-7,270

-7,479

Proceeds from Sale of Investments

7,015

7,589

7,007

6,544

9,696

11,964

Payments for Business Acquisitions

-8,444

-10,899

-10,305

-3,289

-2,885

-4,961

Proceeds from Business Divestments

—

-6

-6

698

—

—

Other Investing Activities

—

—

—

—

—

—

Cash from Investing Activities

-13,098

-14,247

-13,706

-4,937

-722

-1,088

Financing ActivitiesSep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23Mar '23Dec '22Sep '22Jun '22

Issuance of Long-Term Debt

—

—

—

5,705

—

—

Repayments of Long-Term Debt

-3,803

-3,956

-5,766

-6,615

-6,600

-7,046

Net Issuance / (Repayments) of Long-Term Debt

-3,803

-3,956

-5,766

-910

-6,600

-7,046

Issuance of Common Shares

643

761

701

745

—

—

Repurchases of Common Shares

-963

-738

-736

-651

-603

-512

Net Issuance / (Repurchases) of Common Shares

-320

23

-35

94

-603

-512

Common Share Dividends Paid

-6,227

-6,201

-6,174

-6,147

-6,119

-6,091

Other Financing Activities

-130

-104

-133

-115

-453

-394

Cash from Financing Activities

-2,099

-1,852

-3,513

-7,079

-7,018

-7,385

Free Cash FlowSep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23Mar '23Dec '22Sep '22Jun '22

Free Cash Flow

12,471

12,239

12,594

12,397

12,533

12,713

NOPAT

9,488.4

7,559.5

7,116.1

7,791.4

8,098.5

9,981.5

Levered Free Cash Flow

7,930

5,657

3,367

10,419

3,458

4,876

Unlevered Free Cash Flow

13,314.4

11,339.5

10,776.1

13,097.4

11,759.5

13,472.5

Net Change in Cash

-1,714

-2,817

-3,572

1,429

5,838

5,280