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

Net Income

721

718

631

581

692

624

Depreciation & Amortization

124

123

119

123

121

127

Share-Based Compensation Expense

22

22

17

19

18

19

Other Adjustments

17

38

37

-127

-18.5

-29

Changes in Trade Receivables

10

-141

-53

73

-22

-100

Changes in Inventories

-44

-83

-85

73

2

-17

Changes in Accounts Payable

-54

36

-12

26

-15

23

Changes in Income Taxes Payable

54

-151

123

-7

20

-156

Changes in Other Operating Activities

88

-76

-190

144

145

11

Cash from Operating Activities

938

486

587

905

951

502

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

Capital Expenditure

-133

-178

-149

-216

-167

-132

Proceeds from Sale of Property, Plant & Equipment

1

-1

1

—

—

0.5

Purchases of Investments

-3

-1.5

-3

-1

-1

-2

Proceeds from Sale of Investments

—

—

—

—

—

—

Payments for Business Acquisitions

—

-10

—

—

—

-8

Proceeds from Business Divestments

—

-4

—

293

146.5

—

Other Investing Activities

-25

-55

-23

50

-10.5

10

Cash from Investing Activities

-160

-247

-175

126

-178

-132

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

Issuance of Short-Term Debt

—

—

—

—

—

—

Repayments of Short-Term Debt

—

—

—

—

—

-24

Net Issuance / (Repayments) of Short-Term Debt

—

—

—

—

—

-24

Issuance of Long-Term Debt

1,848

—

—

—

—

—

Repayments of Long-Term Debt

-1,350

—

—

—

—

—

Net Issuance / (Repayments) of Long-Term Debt

498

—

—

—

—

—

Issuance of Common Shares

—

-3

-9

2

2

-4

Repurchases of Common Shares

-394

-338

-443

-553

-433

-533

Net Issuance / (Repurchases) of Common Shares

-394

-341

-452

-551

-431

-537

Common Share Dividends Paid

-222

-223

-224

-194

-197

-197

Other Financing Activities

-16

-0.5

-1

—

—

-29

Cash from Financing Activities

-134

-564

-677

-745

-628

-763

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

Free Cash Flow

805

308

438

689

784

370

NOPAT

757.6

763.4

659

605.6

724.5

691.2

Levered Free Cash Flow

1,254

389

437

724

788

456

Unlevered Free Cash Flow

792.6

434.4

465

748.6

830.5

547.2

Net Change in Cash

644

-325

-265

286

145

-393