Warner Music Group Corp. (WMG)
Q4-CY2025Q3-CY2025Q2-CY2025Q1-CY2025Q4-CY2024Q3-CY2024Q2-CY2024Q1-CY2024Q4-CY2023Q3-CY2023Q2-CY2023Q1-CY2023Q4-CY2022Q3-CY2022Q2-CY2022Q1-CY2022Q4-CY2021Q3-CY2021Q2-CY2021Q1-CY2021Q4-CY2020Q3-CY2020Q2-CY2020Q1-CY2020Q4-CY2019Q3-CY2019Q2-CY2019Q1-CY2019Q4-CY2018Q3-CY2018Q2-CY2018Q1-CY2018Q4-CY2017Q3-CY2017Q2-CY2017Q1-CY2017Q4-CY2016Q3-CY2016Q2-CY2016Q1-CY2016Q4-CY2015Q3-CY2015Q2-CY2015Q1-CY2015Q4-CY2014Q3-CY2014Q2-CY2014Q1-CY2014Q4-CY2013
Balance Sheet Date2025-Sep-302025-Jun-302025-Mar-312024-Dec-312024-Sep-302024-Jun-302024-Mar-312023-Dec-312023-Sep-302023-Jun-302023-Mar-312022-Dec-312022-Sep-302022-Jun-302022-Mar-312021-Dec-312021-Sep-302021-Jun-302021-Mar-312020-Dec-312020-Sep-302020-Jun-302020-Mar-312019-Dec-312019-Sep-302019-Jun-302019-Mar-312018-Dec-312018-Sep-302018-Jun-302018-Mar-312017-Dec-312017-Sep-302017-Jun-302017-Mar-312016-Dec-312016-Sep-302016-Jun-302016-Mar-312015-Dec-312015-Sep-302015-Jun-302015-Mar-312014-Dec-312014-Sep-302014-Jun-302014-Mar-312013-Dec-31
Fiscal PeriodQ4-FY2025Q3-FY2025Q2-FY2025Q1-FY2025Q4-FY2024Q3-FY2024Q2-FY2024Q1-FY2024Q4-FY2023Q3-FY2023Q2-FY2023Q1-FY2023Q4-FY2022Q3-FY2022Q2-FY2022Q1-FY2022Q4-FY2021Q3-FY2021Q2-FY2021Q1-FY2021Q4-FY2020Q3-FY2020Q2-FY2020Q1-FY2020Q4-FY2019Q3-FY2019Q2-FY2019Q1-FY2019Q4-FY2018Q3-FY2018Q2-FY2018Q1-FY2018Q4-FY2017Q3-FY2017Q2-FY2017Q1-FY2017Q4-FY2016Q3-FY2016Q2-FY2016Q1-FY2016Q4-FY2015Q3-FY2015Q2-FY2015Q1-FY2015Q4-FY2014Q3-FY2014Q2-FY2014Q1-FY2014
Close Price of Common Stock29.69$34.05$27.25$31.35$31.01$31.29$30.63$33.02$35.81$31.42$26.10$33.39$35.00$23.22$24.36$37.85$43.18$42.74$36.08$34.34$37.99$28.77$29.35$
Market Cap of Common Stock15,510,146,822$17,746,530,896$14,204,522,453$16,313,318,761$16,060,417,333$16,205,681,348$15,863,690,505$17,100,435,639$18,477,811,030$16,209,934,546$13,466,935,807$17,227,198,969$18,019,887,270$11,954,801,048$12,541,717,280$19,485,701,005$22,217,656,837$21,984,721,812$18,558,927,058$17,662,853,518$19,376,074,423$14,672,700,000$14,965,950,000$
QoQ%(12.60%)24.94%(12.93%)1.58%(.90%)2.16%(7.23%)(7.45%)13.99%20.37%(21.83%)(4.40%)50.73%(4.68%)(35.64%)(12.30%)1.06%18.46%5.07%(8.84%)32.06%(1.96%)
YoY%(3.43%)9.51%(10.46%)(4.60%)(13.08%)(.03%)17.80%(.74%)2.54%35.59%7.38%(11.59%)(18.89%)(45.62%)(32.42%)10.32%14.67%49.83%24.01%
Common Shares Outstanding522,403,059522,286,313521,267,313520,412,313519,681,313518,873,780517,918,000518,699,200518,287,449515,995,449515,991,449515,974,449515,723,449514,849,449514,849,449514,848,449518,697,831519,875,268514,382,822520,106,225532,617,356510,028,000587,000,0001,0691,0691,0601,0601,0601,0601,0521,0521,0521,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,0551,055
QoQ%.02%.20%.16%.14%.16%.19%(.15%).08%.44%.00%.00%.05%.17%.00%.00%(.74%)(.23%)1.07%(1.10%)(2.35%)4.43%(13.11%)54,911,031.90%.00%.85%.00%.00%.00%.76%.00%.00%(.28%).00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%
YoY%.52%.66%.65%.33%.27%.56%.37%.53%.50%.22%.22%.22%(.57%)(.97%).09%(1.01%)(2.61%)1.93%(12.37%)48,653,429.00%49,823,787.37%48,115,749.06%55,377,258.49%.85%.85%.76%.76%.76%.47%(.28%)(.28%)(.28%).00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%.00%(100.00%)
Price to Sales2.31x2.65x2.20x2.58x2.53x2.52x2.49x2.68x2.93x2.69x2.26x2.96x3.11x2.02x2.16x3.41x3.98x4.15x3.67x3.74x4.27x3.29x3.35x
Price to Earnings42.49x48.62x47.83x36.09x31.37x37.25x29.05x32.33x39.57x37.70x31.61x40.25x37.08x21.70x29.10x52.95x56.53x72.32x67.49x----
Price to Book23.97x27.43x24.12x28.77x29.47x31.29x32.84x39.49x39.91x52.80x47.93x68.36x66.74x78.65x80.40x126.53x145.21x709.18x229.12x309.87x1,211.00x--
Total Revenue1,868,000,000$1,689,000,000$1,484,000,000$1,666,000,000$1,630,000,000$1,554,000,000$1,494,000,000$1,748,000,000$1,586,000,000$1,564,000,000$1,399,000,000$1,488,000,000$1,497,000,000$1,432,000,000$1,376,000,000$1,614,000,000$1,376,000,000$1,340,000,000$1,250,000,000$1,335,000,000$1,126,000,000$1,010,000,000$1,071,000,000$1,256,000,000$1,124,000,000$1,058,000,000$1,090,000,000$1,203,000,000$1,039,000,000$958,000,000$963,000,000$1,045,000,000$917,000,000$917,000,000$825,000,000$917,000,000$841,000,000$811,000,000$745,000,000$849,000,000$750,000,000$710,000,000$677,000,000$829,000,000$771,000,000$788,000,000$653,000,000$815,000,000$
QoQ%10.60%13.81%(10.92%)2.21%4.89%4.02%(14.53%)10.21%1.41%11.79%(5.98%)(.60%)4.54%4.07%(14.75%)17.30%2.69%7.20%(6.37%)18.56%11.49%(5.70%)(14.73%)11.74%6.24%(2.94%)(9.39%)15.78%8.46%(.52%)(7.85%)13.96%.00%11.15%(10.03%)9.04%3.70%8.86%(12.25%)13.20%5.63%4.87%(18.34%)7.52%(2.16%)20.67%(19.88%)6.68%
YoY%14.60%8.69%(.67%)(4.69%)2.77%(.64%)6.79%17.47%5.95%9.22%1.67%(7.81%)8.79%6.87%10.08%20.90%22.20%32.67%16.71%6.29%.18%(4.54%)(1.74%)4.41%8.18%10.44%13.19%15.12%13.30%4.47%16.73%13.96%9.04%13.07%10.74%8.01%12.13%14.23%10.04%2.41%(2.72%)(9.90%)3.68%1.72%.92%18.85%(3.26%)5.98%
TTM6,707,000,000$6,469,000,000$6,334,000,000$6,344,000,000$6,426,000,000$6,382,000,000$6,392,000,000$6,297,000,000$6,037,000,000$5,948,000,000$5,816,000,000$5,793,000,000$5,919,000,000$5,798,000,000$5,706,000,000$5,580,000,000$5,301,000,000$5,051,000,000$4,721,000,000$4,542,000,000$4,463,000,000$4,461,000,000$4,509,000,000$4,528,000,000$4,475,000,000$4,390,000,000$4,290,000,000$4,163,000,000$4,005,000,000$3,883,000,000$3,842,000,000$3,704,000,000$3,576,000,000$3,500,000,000$3,394,000,000$3,314,000,000$3,246,000,000$3,155,000,000$3,054,000,000$2,986,000,000$2,966,000,000$2,987,000,000$3,065,000,000$3,041,000,000$3,027,000,000$3,020,000,000$2,895,000,000$2,917,000,000$
TTM_QoQ%3.68%2.13%(.16%)(1.28%).69%(.16%)1.51%4.31%1.50%2.27%.40%(2.13%)2.09%1.61%2.26%5.26%4.95%6.99%3.94%1.77%.05%(1.07%)(.42%)1.18%1.94%2.33%3.05%3.95%3.14%1.07%3.73%3.58%2.17%3.12%2.41%2.10%2.88%3.31%2.28%.67%(.70%)(2.55%).79%.46%.23%4.32%(.75%)1.60%
TTM_YoY%4.37%1.36%(.91%).75%6.44%7.30%9.90%8.70%1.99%2.59%1.93%3.82%11.66%14.79%20.86%22.85%18.78%13.23%4.70%.31%(.27%)1.62%5.11%8.77%11.74%13.06%11.66%12.39%12.00%10.94%13.20%11.77%10.17%10.94%11.13%10.99%9.44%5.62%(.36%)(1.81%)(2.02%)(1.09%)5.87%4.25%5.43%6.41%2.44%5.16%
Gross Margin44.65%45.94%46.70%46.34%47.61%46.59%47.06%49.66%46.72%45.65%48.46%48.86%46.63%46.51%49.35%49.32%45.35%49.18%50.16%48.61%46.18%47.82%50.05%47.05%43.15%45.46%48.72%47.96%43.89%44.57%49.33%45.55%45.37%43.40%49.70%45.91%48.16%44.76%49.80%47.11%50.00%47.47%53.03%46.32%49.03%47.08%51.15%45.89%
QoQ(1.30%)(.75%).36%(1.27%)1.02%(.47%)(2.60%)2.94%1.07%(2.81%)(.40%)2.23%.12%(2.84%).03%3.97%(3.83%)(.98%)1.55%2.43%(1.64%)(2.23%)2.99%3.91%(2.31%)(3.25%).75%4.08%(.68%)(4.75%)3.78%.19%1.96%(6.30%)3.79%(2.25%)3.40%(5.04%)2.69%(2.89%)2.54%(5.56%)6.71%(2.71%)1.95%(4.07%)5.26%(3.19%)
YoY(2.96%)(.65%)(.36%)(3.32%).89%.94%(1.41%).80%.09%(.86%)(.88%)(.46%)1.28%(2.67%)(.81%).70%(.83%)1.36%.11%1.56%3.03%2.36%1.33%(.91%)(.74%).89%(.61%)2.41%(1.48%)1.17%(.37%)(.36%)(2.79%)(1.36%)(.10%)(1.20%)(1.84%)(2.71%)(3.23%).79%.97%.38%1.88%.43%(.06%)2.74%(.41%)(1.18%)
Operating Income143,000,000$169,000,000$168,000,000$214,000,000$143,000,000$207,000,000$119,000,000$354,000,000$212,000,000$189,000,000$124,000,000$265,000,000$163,000,000$146,000,000$166,000,000$239,000,000$100,000,000$162,000,000$151,000,000$196,000,000$88,000,000$(433,000,000$)(49,000,000$)165,000,000$29,000,000$58,000,000$122,000,000$147,000,000$16,000,000$28,000,000$83,000,000$90,000,000$(1,000,000$)51,000,000$78,000,000$94,000,000$55,000,000$45,000,000$52,000,000$62,000,000$37,000,000$23,000,000$44,000,000$23,000,000$24,000,000$(15,000,000$)(5,000,000$)15,000,000$
QoQ%(15.39%).60%(21.50%)49.65%(30.92%)73.95%(66.38%)66.98%12.17%52.42%(53.21%)62.58%11.64%(12.05%)(30.54%)139.00%(38.27%)7.29%(22.96%)122.73%120.32%(783.67%)(129.70%)468.97%(50.00%)(52.46%)(17.01%)818.75%(42.86%)(66.27%)(7.78%)9,100.00%(101.96%)(34.62%)(17.02%)70.91%22.22%(13.46%)(16.13%)67.57%60.87%(47.73%)91.30%(4.17%)260.00%(200.00%)(133.33%)136.59%
YoY%.00%(18.36%)41.18%(39.55%)(32.55%)9.52%(4.03%)33.59%30.06%29.45%(25.30%)10.88%63.00%(9.88%)9.93%21.94%13.64%137.41%408.16%18.79%203.45%(846.55%)(140.16%)12.25%81.25%107.14%46.99%63.33%1,700.00%(45.10%)6.41%(4.26%)(101.82%)13.33%50.00%51.61%48.65%95.65%18.18%169.57%54.17%253.33%980.00%53.33%158.54%(287.50%)(108.77%)(70.59%)
TTM694,000,000$694,000,000$732,000,000$683,000,000$823,000,000$892,000,000$874,000,000$879,000,000$790,000,000$741,000,000$698,000,000$740,000,000$714,000,000$651,000,000$667,000,000$652,000,000$609,000,000$597,000,000$2,000,000$(198,000,000$)(229,000,000$)(288,000,000$)203,000,000$374,000,000$356,000,000$343,000,000$313,000,000$274,000,000$217,000,000$200,000,000$223,000,000$218,000,000$222,000,000$278,000,000$272,000,000$246,000,000$214,000,000$196,000,000$174,000,000$166,000,000$127,000,000$114,000,000$76,000,000$27,000,000$19,000,000$(46,000,000$)(23,000,000$)39,000,000$
TTM_QoQ%.00%(5.19%)7.17%(17.01%)(7.74%)2.06%(.57%)11.27%6.61%6.16%(5.68%)3.64%9.68%(2.40%)2.30%7.06%2.01%29,750.00%101.01%13.54%20.49%(241.87%)(45.72%)5.06%3.79%9.59%14.23%26.27%8.50%(10.31%)2.29%(1.80%)(20.14%)2.21%10.57%14.95%9.18%12.64%4.82%30.71%11.40%50.00%181.48%42.11%141.30%(100.00%)(158.97%)(48.00%)
TTM_YoY%(15.67%)(22.20%)(16.25%)(22.30%)4.18%20.38%25.22%18.78%10.64%13.83%4.65%13.50%17.24%9.05%33,250.00%429.29%365.94%307.29%(99.02%)(152.94%)(164.33%)(183.97%)(35.14%)36.50%64.06%71.50%40.36%25.69%(2.25%)(28.06%)(18.02%)(11.38%)3.74%41.84%56.32%48.19%68.50%71.93%128.95%514.82%568.42%347.83%430.44%(30.77%)(74.67%)(129.30%)(114.74%)(67.77%)
Operating Margin7.66%10.01%11.32%12.85%8.77%13.32%7.97%20.25%13.37%12.08%8.86%17.81%10.89%10.20%12.06%14.81%7.27%12.09%12.08%14.68%7.82%(42.87%)(4.58%)13.14%2.58%5.48%11.19%12.22%1.54%2.92%8.62%8.61%(.11%)5.56%9.46%10.25%6.54%5.55%6.98%7.30%4.93%3.24%6.50%2.77%3.11%(1.90%)(.77%)1.84%
QoQ(2.35%)(1.32%)(1.52%)4.07%(4.55%)5.36%(12.29%)6.89%1.28%3.22%(8.95%)6.92%.69%(1.87%)(2.74%)7.54%(4.82%).01%(2.60%)6.87%50.69%(38.30%)(17.71%)10.56%(2.90%)(5.71%)(1.03%)10.68%(1.38%)(5.70%).01%8.72%(5.67%)(3.89%)(.80%)3.71%.99%(1.43%)(.32%)2.37%1.69%(3.26%)3.73%(.34%)5.02%(1.14%)(2.61%)7.21%
YoY(1.12%)(3.31%)3.36%(7.41%)(4.59%)1.24%(.90%)2.44%2.48%1.89%(3.20%)3.00%3.62%(1.89%)(.02%).13%(.55%)54.96%16.66%1.55%5.24%(48.35%)(15.77%).92%1.04%2.56%2.57%3.61%1.65%(2.64%)(.84%)(1.64%)(6.65%).01%2.48%2.95%1.61%2.31%.48%4.53%1.82%5.14%7.27%.93%8.48%(3.11%)(9.21%)(4.79%)
Net Income109,000,000$(16,000,000$)36,000,000$236,000,000$41,000,000$139,000,000$96,000,000$159,000,000$152,000,000$122,000,000$34,000,000$122,000,000$148,000,000$124,000,000$92,000,000$187,000,000$28,000,000$61,000,000$117,000,000$98,000,000$(1,000,000$)(520,000,000$)(74,000,000$)120,000,000$90,000,000$13,000,000$67,000,000$86,000,000$(13,000,000$)321,000,000$(1,000,000$)5,000,000$(38,000,000$)143,000,000$20,000,000$24,000,000$(3,000,000$)(7,000,000$)12,000,000$28,000,000$(23,000,000$)(43,000,000$)19,000,000$(41,000,000$)(24,000,000$)(184,000,000$)(59,000,000$)(36,000,000$)
QoQ%781.25%(144.44%)(84.75%)475.61%(70.50%)44.79%(39.62%)4.61%24.59%258.82%(72.13%)(17.57%)19.36%34.78%(50.80%)567.86%(54.10%)(47.86%)19.39%9,900.00%99.81%(602.70%)(161.67%)33.33%592.31%(80.60%)(22.09%)761.54%(104.05%)32,200.00%(120.00%)113.16%(126.57%)615.00%(16.67%)900.00%57.14%(158.33%)(57.14%)221.74%46.51%(326.32%)146.34%(70.83%)86.96%(211.86%)(63.89%)36.84%
YoY%165.85%(111.51%)(62.50%)48.43%(73.03%)13.93%182.35%30.33%2.70%(1.61%)(63.04%)(34.76%)428.57%103.28%(21.37%)90.82%2,900.00%111.73%258.11%(18.33%)(101.11%)(4,100.00%)(210.45%)39.54%792.31%(95.95%)6,800.00%1,620.00%65.79%124.48%(105.00%)(79.17%)(1,166.67%)2,142.86%66.67%(14.29%)86.96%83.72%(36.84%)168.29%4.17%76.63%132.20%(13.89%)57.90%(196.77%)(1,575.00%)54.43%
TTM365,000,000$297,000,000$452,000,000$512,000,000$435,000,000$546,000,000$529,000,000$467,000,000$430,000,000$426,000,000$428,000,000$486,000,000$551,000,000$431,000,000$368,000,000$393,000,000$304,000,000$275,000,000$(306,000,000$)(497,000,000$)(475,000,000$)(384,000,000$)149,000,000$290,000,000$256,000,000$153,000,000$461,000,000$393,000,000$312,000,000$287,000,000$109,000,000$130,000,000$149,000,000$184,000,000$34,000,000$26,000,000$30,000,000$10,000,000$(26,000,000$)(19,000,000$)(88,000,000$)(89,000,000$)(230,000,000$)(308,000,000$)(303,000,000$)(336,000,000$)(214,000,000$)(151,000,000$)
TTM_QoQ%22.90%(34.29%)(11.72%)17.70%(20.33%)3.21%13.28%8.61%.94%(.47%)(11.93%)(11.80%)27.84%17.12%(6.36%)29.28%10.55%189.87%38.43%(4.63%)(23.70%)(357.72%)(48.62%)13.28%67.32%(66.81%)17.30%25.96%8.71%163.30%(16.15%)(12.75%)(19.02%)441.18%30.77%(13.33%)200.00%138.46%(36.84%)78.41%1.12%61.30%25.33%(1.65%)9.82%(57.01%)(41.72%)22.17%
TTM_YoY%(16.09%)(45.60%)(14.56%)9.64%1.16%28.17%23.60%(3.91%)(21.96%)(1.16%)16.30%23.66%81.25%56.73%220.26%179.07%164.00%171.62%(305.37%)(271.38%)(285.55%)(350.98%)(67.68%)(26.21%)(17.95%)(46.69%)322.94%202.31%109.40%55.98%220.59%400.00%396.67%1,740.00%230.77%236.84%134.09%111.24%88.70%93.83%70.96%73.51%(7.48%)(103.97%)(56.19%)(118.18%)(72.58%)6.79%
Profit Margin5.84%(.95%)2.43%14.17%2.52%8.95%6.43%9.10%9.58%7.80%2.43%8.20%9.89%8.66%6.69%11.59%2.04%4.55%9.36%7.34%(.09%)(51.49%)(6.91%)9.55%8.01%1.23%6.15%7.15%(1.25%)33.51%(.10%).48%(4.14%)15.59%2.42%2.62%(.36%)(.86%)1.61%3.30%(3.07%)(6.06%)2.81%(4.95%)(3.11%)(23.35%)(9.04%)(4.42%)
QoQ6.78%(3.37%)(11.74%)11.65%(6.43%)2.52%(2.67%)(.49%)1.78%5.37%(5.77%)(1.69%)1.23%1.97%(4.90%)9.55%(2.52%)(4.81%)2.02%7.43%51.40%(44.58%)(16.46%)1.55%6.78%(4.92%)(1.00%)8.40%(34.76%)33.61%(.58%)4.62%(19.74%)13.17%(.19%)2.97%.51%(2.47%)(1.69%)6.37%2.99%(8.86%)7.75%(1.83%)20.24%(14.32%)(4.62%)3.04%
YoY3.32%(9.89%)(4.00%)5.07%(7.07%)1.14%4.00%.90%(.30%)(.86%)(4.26%)(3.39%)7.85%4.11%(2.67%)4.25%2.12%56.04%16.27%(2.21%)(8.10%)(52.71%)(13.06%)2.41%9.26%(32.28%)6.25%6.67%2.89%17.91%(2.53%)(2.14%)(3.79%)16.46%.81%(.68%)2.71%5.19%(1.20%)8.24%.05%17.29%11.84%(.53%)4.35%(14.00%)(9.63%)5.86%
Equity to Common Shareholders647,000,000$589,000,000$567,000,000$545,000,000$518,000,000$483,000,000$433,000,000$463,000,000$307,000,000$281,000,000$252,000,000$270,000,000$152,000,000$156,000,000$154,000,000$153,000,000$31,000,000$81,000,000$57,000,000$16,000,000$(63,000,000$)(38,000,000$)(306,000,000$)(190,000,000$)(289,000,000$)(152,000,000$)(140,000,000$)(162,000,000$)(334,000,000$)175,000,000$189,000,000$307,000,000$293,000,000$308,000,000$170,000,000$124,000,000$195,000,000$218,000,000$221,000,000$223,000,000$221,000,000$254,000,000$257,000,000$295,000,000$371,000,000$442,000,000$623,000,000$681,000,000$
QoQ58,000,000$22,000,000$22,000,000$27,000,000$35,000,000$50,000,000$(30,000,000$)156,000,000$26,000,000$29,000,000$(18,000,000$)118,000,000$(4,000,000$)2,000,000$1,000,000$122,000,000$(50,000,000$)24,000,000$41,000,000$79,000,000$(25,000,000$)268,000,000$(116,000,000$)99,000,000$(137,000,000$)(12,000,000$)22,000,000$172,000,000$(509,000,000$)(14,000,000$)(118,000,000$)14,000,000$(15,000,000$)138,000,000$46,000,000$(71,000,000$)(23,000,000$)(3,000,000$)(2,000,000$)2,000,000$(33,000,000$)(3,000,000$)(38,000,000$)(76,000,000$)(71,000,000$)(181,000,000$)(58,000,000$)(45,000,000$)
QoQ%9.85%3.88%4.04%5.21%7.25%11.55%(6.48%)50.81%9.25%11.51%(6.67%)77.63%(2.56%)1.30%.65%393.55%(61.73%)42.11%256.25%125.40%(65.79%)87.58%(61.05%)34.26%(90.13%)(8.57%)13.58%51.50%(290.86%)(7.41%)(38.44%)4.78%(4.87%)81.18%37.10%(36.41%)(10.55%)(1.36%)(.90%).91%(12.99%)(1.17%)(12.88%)(20.49%)(16.06%)(29.05%)(8.52%)(6.20%)
YoY129,000,000$106,000,000$134,000,000$82,000,000$211,000,000$202,000,000$181,000,000$193,000,000$155,000,000$125,000,000$98,000,000$117,000,000$121,000,000$75,000,000$97,000,000$137,000,000$94,000,000$119,000,000$363,000,000$206,000,000$226,000,000$114,000,000$(166,000,000$)(28,000,000$)45,000,000$(327,000,000$)(329,000,000$)(469,000,000$)(627,000,000$)(133,000,000$)19,000,000$183,000,000$98,000,000$90,000,000$(51,000,000$)(99,000,000$)(26,000,000$)(36,000,000$)(36,000,000$)(72,000,000$)(150,000,000$)(188,000,000$)(366,000,000$)(386,000,000$)(355,000,000$)(334,000,000$)(213,000,000$)(166,000,000$)
YoY%24.90%21.95%30.95%17.71%68.73%71.89%71.83%71.48%101.97%80.13%63.64%76.47%390.32%92.59%170.18%856.25%149.21%313.16%118.63%108.42%78.20%75.00%(118.57%)(17.28%)13.47%(186.86%)(174.07%)(152.77%)(213.99%)(43.18%)11.18%147.58%50.26%41.28%(23.08%)(44.40%)(11.77%)(14.17%)(14.01%)(24.41%)(40.43%)(42.53%)(58.75%)(56.68%)(48.90%)(43.04%)(25.48%)(19.60%)
Dividends Paid100,000,000$94,000,000$95,000,000$94,000,000$94,000,000$89,000,000$89,000,000$89,000,000$89,000,000$84,000,000$83,000,000$84,000,000$83,000,000$79,000,000$78,000,000$78,000,000$78,000,000$62,000,000$63,000,000$62,000,000$63,000,000$37,000,000$38,000,000$206,000,000$31,000,000$32,000,000$500,000,000$300,000,000$30,000,000$0$
Additional Paid-In Capital QoQ0$0$0$
Treasury Stock
QoQ
Goodwill2,061,000,000$2,064,000,000$2,031,000,000$2,013,000,000$2,021,000,000$2,003,000,000$2,007,000,000$2,015,000,000$1,993,000,000$1,962,000,000$1,960,000,000$1,951,000,000$1,920,000,000$1,932,000,000$1,922,000,000$1,945,000,000$1,830,000,000$1,836,000,000$1,842,000,000$1,851,000,000$1,831,000,000$1,770,000,000$1,761,000,000$1,768,000,000$1,761,000,000$1,772,000,000$1,787,000,000$1,793,000,000$1,692,000,000$1,686,000,000$1,696,000,000$1,688,000,000$1,685,000,000$1,630,000,000$1,614,000,000$1,612,000,000$1,627,000,000$1,630,000,000$1,622,000,000$1,625,000,000$1,632,000,000$1,633,000,000$1,625,000,000$1,649,000,000$1,661,000,000$1,675,000,000$1,679,000,000$1,677,000,000$
QoQ%(.15%)1.63%.89%(.40%).90%(.20%)(.40%)1.10%1.58%.10%.46%1.62%(.62%).52%(1.18%)6.28%(.33%)(.33%)(.49%)1.09%3.45%.51%(.40%).40%(.62%)(.84%)(.34%)5.97%.36%(.59%).47%.18%3.37%.99%.12%(.92%)(.18%).49%(.19%)(.43%)(.06%).49%(1.46%)(.72%)(.84%)(.24%).12%.54%
YoY%1.98%3.05%1.20%(.10%)1.41%2.09%2.40%3.28%3.80%1.55%1.98%.31%4.92%5.23%4.34%5.08%(.06%)3.73%4.60%4.70%3.98%(.11%)(1.46%)(1.39%)4.08%5.10%5.37%6.22%.42%3.44%5.08%4.72%3.57%.00%(.49%)(.80%)(.31%)(.18%)(.19%)(1.46%)(1.75%)(2.51%)(3.22%)(1.67%)(.42%)20.24%21.32%21.17%
Other Intangible Assets2,879,000,000$2,918,000,000$2,915,000,000$2,478,000,000$2,511,000,000$2,459,000,000$2,468,000,000$2,541,000,000$2,502,000,000$2,345,000,000$2,382,000,000$2,415,000,000$2,384,000,000$2,494,000,000$2,563,000,000$2,624,000,000$2,171,000,000$2,217,000,000$2,081,000,000$2,124,000,000$1,807,000,000$1,776,000,000$1,795,000,000$1,864,000,000$1,874,000,000$1,933,000,000$1,955,000,000$1,992,000,000$2,005,000,000$2,030,000,000$2,155,000,000$2,162,000,000$2,207,000,000$2,137,000,000$2,172,000,000$2,201,000,000$2,317,000,000$2,387,000,000$2,466,000,000$2,542,000,000$2,633,000,000$2,717,000,000$2,723,000,000$2,874,000,000$3,004,000,000$3,099,000,000$3,151,000,000$3,194,000,000$
QoQ(39,000,000$)3,000,000$437,000,000$(33,000,000$)52,000,000$(9,000,000$)(73,000,000$)39,000,000$157,000,000$(37,000,000$)(33,000,000$)31,000,000$(110,000,000$)(69,000,000$)(61,000,000$)453,000,000$(46,000,000$)136,000,000$(43,000,000$)317,000,000$31,000,000$(19,000,000$)(69,000,000$)(10,000,000$)(59,000,000$)(22,000,000$)(37,000,000$)(13,000,000$)(25,000,000$)(125,000,000$)(7,000,000$)(45,000,000$)70,000,000$(35,000,000$)(29,000,000$)(116,000,000$)(70,000,000$)(79,000,000$)(76,000,000$)(91,000,000$)(84,000,000$)(6,000,000$)(151,000,000$)(130,000,000$)(95,000,000$)(52,000,000$)(43,000,000$)(33,000,000$)
Amortization of Intangible Assets72,000,000$67,000,000$62,000,000$57,000,000$57,000,000$55,000,000$57,000,000$55,000,000$57,000,000$64,000,000$61,000,000$63,000,000$65,000,000$69,000,000$69,000,000$60,000,000$59,000,000$60,000,000$58,000,000$52,000,000$49,000,000$47,000,000$47,000,000$47,000,000$48,000,000$51,000,000$55,000,000$54,000,000$42,000,000$56,000,000$55,000,000$53,000,000$49,000,000$51,000,000$50,000,000$51,000,000$55,000,000$63,000,000$63,000,000$62,000,000$64,000,000$63,000,000$63,000,000$65,000,000$67,000,000$67,000,000$66,000,000$66,000,000$
Total Assets9,829,000,000$9,777,000,000$9,568,000,000$9,146,000,000$9,155,000,000$8,830,000,000$8,731,000,000$8,991,000,000$8,545,000,000$8,150,000,000$8,010,000,000$8,129,000,000$7,828,000,000$7,699,000,000$7,781,000,000$8,015,000,000$7,211,000,000$7,040,000,000$6,830,000,000$6,943,000,000$6,410,000,000$6,148,000,000$6,124,000,000$6,314,000,000$6,017,000,000$5,955,000,000$5,902,000,000$5,616,000,000$5,344,000,000$5,764,000,000$5,782,000,000$5,875,000,000$5,718,000,000$5,479,000,000$5,304,000,000$5,340,000,000$5,335,000,000$5,494,000,000$5,485,000,000$5,613,000,000$5,621,000,000$5,664,000,000$5,666,000,000$5,854,000,000$5,954,000,000$6,116,000,000$6,130,000,000$6,288,000,000$
QoQ52,000,000$209,000,000$422,000,000$(9,000,000$)325,000,000$99,000,000$(260,000,000$)446,000,000$395,000,000$140,000,000$(119,000,000$)301,000,000$129,000,000$(82,000,000$)(234,000,000$)804,000,000$171,000,000$210,000,000$(113,000,000$)533,000,000$262,000,000$24,000,000$(190,000,000$)297,000,000$62,000,000$53,000,000$286,000,000$272,000,000$(420,000,000$)(18,000,000$)(93,000,000$)157,000,000$239,000,000$175,000,000$(36,000,000$)5,000,000$(159,000,000$)9,000,000$(128,000,000$)(8,000,000$)(43,000,000$)(2,000,000$)(188,000,000$)(100,000,000$)(162,000,000$)(14,000,000$)(158,000,000$)36,000,000$
YoY674,000,000$947,000,000$837,000,000$155,000,000$610,000,000$680,000,000$721,000,000$862,000,000$717,000,000$451,000,000$229,000,000$114,000,000$617,000,000$659,000,000$951,000,000$1,072,000,000$801,000,000$892,000,000$706,000,000$629,000,000$393,000,000$193,000,000$222,000,000$698,000,000$673,000,000$191,000,000$120,000,000$(259,000,000$)(374,000,000$)285,000,000$478,000,000$535,000,000$383,000,000$(15,000,000$)(181,000,000$)(273,000,000$)(286,000,000$)(170,000,000$)(181,000,000$)(241,000,000$)(333,000,000$)(452,000,000$)(464,000,000$)(434,000,000$)(298,000,000$)1,226,000,000$1,022,000,000$1,089,000,000$
Total Liabilities9,072,000,000$8,965,000,000$8,778,000,000$8,449,000,000$8,480,000,000$8,195,000,000$8,146,000,000$8,375,000,000$8,115,000,000$7,851,000,000$7,744,000,000$7,847,000,000$7,660,000,000$7,527,000,000$7,608,000,000$7,843,000,000$7,165,000,000$6,945,000,000$6,757,000,000$6,910,000,000$6,455,000,000$6,169,000,000$6,409,000,000$6,483,000,000$6,286,000,000$6,088,000,000$6,022,000,000$5,786,000,000$5,664,000,000$5,573,000,000$5,577,000,000$5,554,000,000$5,410,000,000$5,154,000,000$5,117,000,000$5,200,000,000$5,125,000,000$5,262,000,000$5,251,000,000$5,374,000,000$5,382,000,000$5,391,000,000$5,390,000,000$5,540,000,000$5,564,000,000$5,656,000,000$5,489,000,000$5,590,000,000$
QoQ107,000,000$187,000,000$329,000,000$(31,000,000$)285,000,000$49,000,000$(229,000,000$)260,000,000$264,000,000$107,000,000$(103,000,000$)187,000,000$133,000,000$(81,000,000$)(235,000,000$)678,000,000$220,000,000$188,000,000$(153,000,000$)455,000,000$286,000,000$(240,000,000$)(74,000,000$)197,000,000$198,000,000$66,000,000$236,000,000$122,000,000$91,000,000$(4,000,000$)23,000,000$144,000,000$256,000,000$37,000,000$(83,000,000$)75,000,000$(137,000,000$)11,000,000$(123,000,000$)(8,000,000$)(9,000,000$)1,000,000$(150,000,000$)(24,000,000$)(92,000,000$)167,000,000$(101,000,000$)81,000,000$
YoY592,000,000$770,000,000$632,000,000$74,000,000$365,000,000$344,000,000$402,000,000$528,000,000$455,000,000$324,000,000$136,000,000$4,000,000$495,000,000$582,000,000$851,000,000$933,000,000$710,000,000$776,000,000$348,000,000$427,000,000$169,000,000$81,000,000$387,000,000$697,000,000$622,000,000$515,000,000$445,000,000$232,000,000$254,000,000$419,000,000$460,000,000$354,000,000$285,000,000$(108,000,000$)(134,000,000$)(174,000,000$)(257,000,000$)(129,000,000$)(139,000,000$)(166,000,000$)(182,000,000$)(265,000,000$)(99,000,000$)(50,000,000$)55,000,000$1,560,000,000$1,236,000,000$1,255,000,000$
Current Ratio.66x.66x.66x.69x.68x.69x.69x.70x.68x.70x.69x.70x.64x.61x.61x.60x.60x.60x.63x.63x.62x.63x.58x.59x.60x.62x.61x.58x.50x.69x.62x.67x.61x.61x.57x.55x.49x.48x.48x.49x.45x.42x.44x.43x.41x.43x.41x.45x
Total Current Assets2,770,000,000$2,678,000,000$2,599,000,000$2,716,000,000$2,643,000,000$2,483,000,000$2,450,000,000$2,616,000,000$2,402,000,000$2,317,000,000$2,212,000,000$2,340,000,000$2,139,000,000$1,901,000,000$1,912,000,000$2,021,000,000$1,896,000,000$1,734,000,000$1,756,000,000$1,828,000,000$1,678,000,000$1,582,000,000$1,583,000,000$1,656,000,000$1,691,000,000$1,580,000,000$1,524,000,000$1,433,000,000$1,176,000,000$1,585,000,000$1,407,000,000$1,502,000,000$1,275,000,000$1,178,000,000$1,055,000,000$1,061,000,000$908,000,000$942,000,000$874,000,000$922,000,000$827,000,000$773,000,000$799,000,000$825,000,000$782,000,000$844,000,000$808,000,000$938,000,000$
QoQ92,000,000$79,000,000$(117,000,000$)73,000,000$160,000,000$33,000,000$(166,000,000$)214,000,000$85,000,000$105,000,000$(128,000,000$)201,000,000$238,000,000$(11,000,000$)(109,000,000$)125,000,000$162,000,000$(22,000,000$)(72,000,000$)150,000,000$96,000,000$(1,000,000$)(73,000,000$)(35,000,000$)111,000,000$56,000,000$91,000,000$257,000,000$(409,000,000$)178,000,000$(95,000,000$)227,000,000$97,000,000$123,000,000$(6,000,000$)153,000,000$(34,000,000$)68,000,000$(48,000,000$)95,000,000$54,000,000$(26,000,000$)(26,000,000$)43,000,000$(62,000,000$)36,000,000$(130,000,000$)44,000,000$
Total Current Liabilities4,201,000,000$4,050,000,000$3,916,000,000$3,923,000,000$3,897,000,000$3,573,000,000$3,533,000,000$3,745,000,000$3,539,000,000$3,290,000,000$3,187,000,000$3,341,000,000$3,368,000,000$3,123,000,000$3,131,000,000$3,357,000,000$3,150,000,000$2,902,000,000$2,784,000,000$2,890,000,000$2,720,000,000$2,525,000,000$2,732,000,000$2,799,000,000$2,819,000,000$2,544,000,000$2,518,000,000$2,457,000,000$2,373,000,000$2,287,000,000$2,273,000,000$2,234,000,000$2,100,000,000$1,938,000,000$1,855,000,000$1,944,000,000$1,842,000,000$1,950,000,000$1,821,000,000$1,887,000,000$1,857,000,000$1,824,000,000$1,815,000,000$1,904,000,000$1,885,000,000$1,946,000,000$1,983,000,000$2,076,000,000$
QoQ151,000,000$134,000,000$(7,000,000$)26,000,000$324,000,000$40,000,000$(212,000,000$)206,000,000$249,000,000$103,000,000$(154,000,000$)(27,000,000$)245,000,000$(8,000,000$)(226,000,000$)207,000,000$248,000,000$118,000,000$(106,000,000$)170,000,000$195,000,000$(207,000,000$)(67,000,000$)(20,000,000$)275,000,000$26,000,000$61,000,000$84,000,000$86,000,000$14,000,000$39,000,000$134,000,000$162,000,000$83,000,000$(89,000,000$)102,000,000$(108,000,000$)129,000,000$(66,000,000$)30,000,000$33,000,000$9,000,000$(89,000,000$)19,000,000$(61,000,000$)(37,000,000$)(93,000,000$)89,000,000$
Debt to Asset Ratio.92x.92x.92x.92x.93x.93x.93x.93x.95x.96x.97x.97x.98x.98x.98x.98x.99x.99x.99x1.00x1.01x1.00x1.05x1.03x1.04x1.02x1.02x1.03x1.06x.97x.96x.95x.95x.94x.96x.97x.96x.96x.96x.96x.96x.95x.95x.95x.93x.92x.90x.89x
Long Term Debt4,063,000,000$4,061,000,000$3,990,000,000$3,955,000,000$4,014,000,000$3,978,000,000$3,984,000,000$4,004,000,000$3,964,000,000$3,988,000,000$3,986,000,000$3,946,000,000$3,732,000,000$3,785,000,000$3,829,000,000$3,846,000,000$3,346,000,000$3,367,000,000$3,354,000,000$3,387,000,000$3,104,000,000$3,000,000,000$2,983,000,000$2,988,000,000$2,974,000,000$3,006,000,000$2,990,000,000$2,998,000,000$2,819,000,000$2,814,000,000$2,836,000,000$2,818,000,000$2,811,000,000$2,797,000,000$2,767,000,000$2,755,000,000$2,778,000,000$2,795,000,000$2,899,000,000$2,973,000,000$2,981,000,000$2,983,000,000$2,982,000,000$3,005,000,000$3,017,000,000$3,033,000,000$2,856,000,000$2,858,000,000$
QoQ2,000,000$71,000,000$35,000,000$(59,000,000$)36,000,000$(6,000,000$)(20,000,000$)40,000,000$(24,000,000$)2,000,000$40,000,000$214,000,000$(53,000,000$)(44,000,000$)(17,000,000$)500,000,000$(21,000,000$)13,000,000$(33,000,000$)283,000,000$104,000,000$17,000,000$(5,000,000$)14,000,000$(32,000,000$)16,000,000$(8,000,000$)179,000,000$5,000,000$(22,000,000$)18,000,000$7,000,000$14,000,000$30,000,000$12,000,000$(23,000,000$)(17,000,000$)(104,000,000$)(74,000,000$)(8,000,000$)(2,000,000$)1,000,000$(23,000,000$)(12,000,000$)(16,000,000$)177,000,000$(2,000,000$)4,000,000$
YoY49,000,000$83,000,000$6,000,000$(49,000,000$)50,000,000$(10,000,000$)(2,000,000$)58,000,000$232,000,000$203,000,000$157,000,000$100,000,000$386,000,000$418,000,000$475,000,000$459,000,000$242,000,000$367,000,000$371,000,000$399,000,000$130,000,000$(6,000,000$)(7,000,000$)(10,000,000$)155,000,000$192,000,000$154,000,000$180,000,000$8,000,000$17,000,000$69,000,000$63,000,000$33,000,000$2,000,000$(132,000,000$)(218,000,000$)(203,000,000$)(188,000,000$)(83,000,000$)(32,000,000$)(36,000,000$)(50,000,000$)126,000,000$147,000,000$163,000,000$996,000,000$675,000,000$663,000,000$
Capital Lease Obligations243,000,000$273,000,000$296,000,000$281,000,000$294,000,000$309,000,000$318,000,000$330,000,000$336,000,000$330,000,000$339,000,000$338,000,000$346,000,000$351,000,000$359,000,000$
Cash and Cash Equivalents532,000,000$527,000,000$637,000,000$802,000,000$694,000,000$607,000,000$587,000,000$754,000,000$641,000,000$600,000,000$601,000,000$720,000,000$584,000,000$345,000,000$385,000,000$450,000,000$499,000,000$442,000,000$588,000,000$566,000,000$553,000,000$532,000,000$484,000,000$462,000,000$619,000,000$541,000,000$470,000,000$548,000,000$514,000,000$905,000,000$612,000,000$776,000,000$647,000,000$567,000,000$476,000,000$455,000,000$359,000,000$345,000,000$359,000,000$278,000,000$246,000,000$168,000,000$218,000,000$145,000,000$157,000,000$142,000,000$149,000,000$129,000,000$
QoQ5,000,000$(110,000,000$)(165,000,000$)108,000,000$87,000,000$20,000,000$(167,000,000$)113,000,000$41,000,000$(1,000,000$)(119,000,000$)136,000,000$239,000,000$(40,000,000$)(65,000,000$)(49,000,000$)57,000,000$(146,000,000$)22,000,000$13,000,000$21,000,000$48,000,000$22,000,000$(157,000,000$)78,000,000$71,000,000$(78,000,000$)34,000,000$(391,000,000$)293,000,000$(164,000,000$)129,000,000$80,000,000$91,000,000$21,000,000$96,000,000$14,000,000$(14,000,000$)81,000,000$32,000,000$78,000,000$(50,000,000$)73,000,000$(12,000,000$)15,000,000$(7,000,000$)20,000,000$(26,000,000$)
YoY(162,000,000$)(80,000,000$)50,000,000$48,000,000$53,000,000$7,000,000$(14,000,000$)34,000,000$57,000,000$255,000,000$216,000,000$270,000,000$85,000,000$(97,000,000$)(203,000,000$)(116,000,000$)(54,000,000$)(90,000,000$)104,000,000$104,000,000$(66,000,000$)(9,000,000$)14,000,000$(86,000,000$)105,000,000$(364,000,000$)(142,000,000$)(228,000,000$)(133,000,000$)338,000,000$136,000,000$321,000,000$288,000,000$222,000,000$160,000,000$177,000,000$113,000,000$177,000,000$141,000,000$133,000,000$89,000,000$26,000,000$69,000,000$16,000,000$2,000,000$40,000,000$(145,000,000$)(60,000,000$)
Interest Expenses43,000,000$43,000,000$39,000,000$37,000,000$40,000,000$40,000,000$42,000,000$39,000,000$36,000,000$38,000,000$35,000,000$32,000,000$31,000,000$32,000,000$32,000,000$30,000,000$29,000,000$30,000,000$32,000,000$31,000,000$29,000,000$32,000,000$33,000,000$33,000,000$34,000,000$36,000,000$36,000,000$36,000,000$33,000,000$33,000,000$36,000,000$36,000,000$37,000,000$36,000,000$36,000,000$40,000,000$42,000,000$43,000,000$43,000,000$45,000,000$45,000,000$45,000,000$45,000,000$46,000,000$46,000,000$48,000,000$54,000,000$55,000,000$
Interest Income0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$0$