Operating ActivitiesLTMDec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15

Net Income

885.7

1,253.7

882.5

807.8

793.6

266.7

233.3

122.5

3.3

193.6

175.6

Depreciation & Amortization

203.7

202.3

191.1

191.9

212.4

219

211.8

255.6

240.2

62

47.1

Share-Based Compensation Expense

153.9

154.8

129.8

90.6

98.6

62.5

69

66.2

78.9

46.7

46.1

Other Adjustments

-117.9

-84.7

-108.2

45.6

67.1

90.1

30.1

-30.1

-202.4

-2.1

-12

Changes in Trade Receivables

203.4

-137.8

-24.7

-240.7

-145.3

99.4

-66.7

-115

-368.5

-68.7

-44.5

Changes in Accounts Payable

-14

29.4

-28.5

-101.9

121.2

111.9

-54.6

55.2

186.8

56.4

82.5

Changes in Unearned Revenue

-69.9

181.2

169.9

297.1

324.1

16

181.2

187.1

382.9

98

91.8

Changes in Other Operating Activities

-63.6

-114

-56.1

11

-159.1

37.6

-38.6

-70.3

-66.7

-20.3

-41.2

Cash from Operating Activities

1,331.2

1,484.9

1,155.7

1,101.4

1,312.5

903.3

565.4

471.2

254.5

365.6

345.6

Investing ActivitiesLTMDec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15

Capital Expenditure

-115.3

-101.7

-103.1

-108.1

-59.8

-83.9

-149

-126.9

-110.8

-49.9

-46.1

Proceeds from Sale of Investments

—

—

—

—

—

—

14.1

—

—

—

—

Payments for Business Acquisitions

—

-2

-3.8

-9.5

-22.9

—

-26

-15.9

-2,641.8

-48.2

-196.2

Proceeds from Business Divestments

—

—

161.1

—

—

—

—

526.8

—

—

—

Other Investing Activities

—

—

—

—

2.3

—

—

—

—

—

—

Cash from Investing Activities

-115.3

-103.7

54.2

-117.6

-80.5

-83.9

-160.9

384.1

-2,752.5

-98.1

-242.4

Financing ActivitiesLTMDec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15

Issuance of Short-Term Debt

—

274.4

—

—

—

332

309

248

—

—

—

Repayments of Short-Term Debt

—

—

—

—

-5

-475

-316

-688

—

—

—

Net Issuance / (Repayments) of Short-Term Debt

—

274.4

—

—

-5

-143

-7

-440

—

—

—

Issuance of Long-Term Debt

—

—

—

—

600

2,000

5

—

3,025

715

440

Repayments of Long-Term Debt

—

-274.4

-7.8

-5.9

-107.9

-2,089.2

-102.6

-571

-404.4

-835

-20

Net Issuance / (Repayments) of Long-Term Debt

—

-274.4

-7.8

-5.9

492.1

-89.2

-97.6

-571

2,620.6

-120

420

Issuance of Common Shares

32.6

28.2

25.1

22.2

18.2

18.1

17.6

14.7

11.7

9.3

7.5

Repurchases of Common Shares

-1,594.7

-735.4

-606.2

-1,043.7

-1,655.5

-176.3

-199

-260.8

-41.3

-59

-509

Net Issuance / (Repurchases) of Common Shares

-1,562.1

-707.2

-581.1

-1,021.5

-1,637.4

-158.2

-181.4

-246.1

-29.6

-49.7

-501.6

Other Financing Activities

—

-3

—

—

-7.3

-25.8

—

—

-51.2

-5

13.9

Cash from Financing Activities

-1,562.1

-710.1

-588.9

-1,027.4

-1,157.6

-416.2

-286

-1,257.1

2,539.8

-174.7

-67.7

Free Cash FlowLTMDec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15

Free Cash Flow

1,215.9

1,383.2

1,052.6

993.4

1,252.6

819.4

416.4

344.3

143.8

315.8

299.4

NOPAT

935.1

1,044.9

951.5

865.1

749.3

400.9

313.1

175.6

0.2

204.8

185.8

Levered Free Cash Flow

826.6

1,450.9

1,047.9

1,092

1,719.4

335.2

279.4

-587.7

3,256.2

219.8

729.8

Unlevered Free Cash Flow

876

1,242.1

1,124.7

1,155.2

1,188.1

701.5

463.8

476.4

632.6

351.1

319.9

Net Change in Cash

-346.1

671

621

-43.6

74.4

403.2

118.6

-401.9

41.8

92.9

35.5