Cash Flow Statement

Operating Cash Flow

+177%

+40%

10Y

Currency: EUR

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	1 488	1 404	1 435	1 062	867	659	372	784	280	510	618	958	1 078	808	753	261	155	29	66	338	370	275	247	81	53	341	135	(180)	(441)	(539)	(412)	169	397	574	712	561	660	786	499	457	408	321	466	(1 254)	(1 195)	(1 289)	(1 187)	335	481	496	540	512	474	505	731	916	988	1 026	886	880	893	899	917	974	1 043	1 107	1 149	1 496	1 491	1 468	1 401	1 073	961	819	641	568	603	743	1 158	1 307	1 219	1 268	1 392	1 556	1 600	1 386	736	394	490	445	719	463	327	366	138	491
Depreciation & Amortization	487	531	553	1 018	0	0	0	926	0	0	0	1 122	0	0	0	1 130	0	0	0	1 138	0	0	0	1 224	0	0	0	1 225	0	0	0	779	0	0	0	765	0	0	0	828	0	0	0	2 587	0	0	0	545	0	0	0	658	0	0	0	524	0	0	0	545	0	0	0	450	0	0	0	0	0	0	0	490	0	0	427	541	658	776	464	515	580	574	571	522	455	470	623	660	692	759	628	1 139	1 144	1 091	1 118	594
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15	0	0	0	5	0	0	0	8	0	0	0	13	0	0	0	15	0	2	0	8	0	0	0	8	0	0	0	10	0	0	0	16	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Non-Cash Items	221	163	16	(110)	173	365	853	(267)	1 033	845	658	(786)	199	598	496	(91)	1 000	1 002	1 161	39	1 187	1 261	1 117	94	833	386	521	(34)	1 343	1 659	1 687	(57)	228	(158)	(264)	(41)	371	427	704	(49)	775	734	656	(232)	2 221	2 289	2 278	185	701	826	642	110	805	851	620	(92)	442	492	716	241	747	672	710	278	660	632	633	270	344	403	359	209	711	691	289	166	20	(93)	(59)	(161)	(213)	(1 107)	(1 139)	(539)	149	1 088	1 551	1 017	485	497	279	110	125	35	33	125
Cash Taxes Paid	0	0	0	193	279	326	332	161	130	54	63	72	43	92	113	93	100	97	97	159	173	201	214	164	156	156	91	76	50	8	29	31	27	22	35	77	92	96	129	94	90	100	65	73	74	106	113	157	159	132	127	81	88	123	139	140	137	94	106	145	144	170	181	216	240	262	252	228	222	212	199	176	158	155	144	145	148	142	189	275	273	279	321	313	323	387	257	181	184	128	202	144	133	122	85	96
Cash Interest Paid	0	0	0	301	0	0	0	226	0	0	0	189	0	0	0	156	0	0	0	187	0	0	0	191	0	0	0	202	0	0	0	163	163	0	0	92	0	0	0	72	0	0	0	80	0	0	0	50	0	0	0	40	0	0	0	22	0	0	0	40	0	0	0	32	0	0	0	0	0	0	0	29	0	0	0	37	49	52	57	26	24	32	31	43	48	83	88	116	114	124	135	133	148	136	136	126
Change in Working Capital	(529)	(349)	(356)	(541)	(336)	(342)	(217)	(179)	(283)	(207)	(216)	(297)	(154)	(204)	(224)	(447)	(220)	(216)	(217)	(300)	(335)	(363)	(376)	(532)	(156)	(156)	(91)	(383)	(50)	(8)	(29)	368	(210)	(205)	(218)	(303)	(92)	(96)	(129)	(195)	(90)	(100)	(133)	(87)	(101)	(133)	(257)	(330)	(286)	(295)	(141)	(39)	(194)	(162)	(94)	(163)	(12)	10	69	20	101	5	(71)	(144)	(327)	(309)	(428)	(436)	(399)	(322)	(121)	75	(8)	(126)	(107)	(270)	(196)	(188)	(373)	(411)	(541)	(878)	(1 486)	(1 031)	(994)	(396)	480	159	223	(66)	(389)	(321)	(290)	(211)	(34)	195
Cash from Operating Activities	1 667 N/A	1 749 +5%	1 648 -6%	1 429 -13%	1 342 -6%	1 113 -17%	1 250 +12%	1 264 +1%	1 030 -19%	1 148 +11%	1 060 -8%	997 -6%	1 123 +13%	1 202 +7%	1 025 -15%	853 -17%	935 +10%	815 -13%	1 010 +24%	1 215 +20%	1 222 +1%	1 173 -4%	988 -16%	867 -12%	730 -16%	571 -22%	565 -1%	628 +11%	852 +36%	1 112 +31%	1 246 +12%	1 259 +1%	1 194 -5%	990 -17%	1 009 +2%	982 -3%	939 -4%	1 117 +19%	1 074 -4%	1 041 -3%	1 093 +5%	955 -13%	989 +4%	1 014 +3%	925 -9%	867 -6%	834 -4%	735 -12%	896 +22%	1 027 +15%	1 041 +1%	1 241 +19%	1 085 -13%	1 194 +10%	1 257 +5%	1 185 -6%	1 418 +20%	1 528 +8%	1 671 +9%	1 686 +1%	1 741 +3%	1 576 -9%	1 556 -1%	1 558 +0%	1 376 -12%	1 430 +4%	1 354 -5%	1 330 -2%	1 436 +8%	1 549 +8%	1 639 +6%	1 847 +13%	1 664 -10%	1 384 -17%	1 250 -10%	1 005 -20%	1 085 +8%	1 238 +14%	1 190 -4%	1 250 +5%	1 045 -16%	(143) N/A	(662) -363%	508 N/A	1 210 +138%	2 548 +111%	3 390 +33%	2 230 -34%	1 890 -15%	1 635 -13%	1 237 -24%	1 391 +12%	1 306 -6%	1 281 -2%	1 255 -2%	1 405 +12%
Investing Cash Flow
Capital Expenditures	(720)	(658)	(625)	(571)	(580)	(587)	(595)	(564)	(600)	(655)	(668)	(630)	(653)	(602)	(651)	(690)	(682)	(683)	(658)	(635)	(685)	(693)	(685)	(673)	(647)	(624)	(606)	(558)	(461)	(391)	(296)	(236)	(207)	(190)	(195)	(241)	(272)	(275)	(284)	(286)	(294)	(352)	(363)	(374)	(389)	(349)	(355)	(337)	(307)	(344)	(366)	(378)	(392)	(398)	(425)	(432)	(429)	(412)	(385)	(351)	(338)	(297)	(276)	(305)	(308)	(324)	(349)	(352)	(368)	(380)	(362)	(403)	(504)	(618)	(711)	(875)	(963)	(1 176)	(1 362)	(1 521)	(1 580)	(1 541)	(1 534)	(1 477)	(1 446)	(1 370)	(1 309)	(1 080)	(915)	(811)	(639)	(596)	(547)	(491)	(455)	(428)
Other Items	(1 889)	(1 930)	(1 871)	130	122	139	101	212	233	231	386	164	455	513	549	532	267	257	276	321	304	442	215	248	233	88	109	26	36	35	28	22	17	13	31	46	40	188	138	155	151	342	345	309	301	(69)	(35)	40	116	146	139	131	64	72	79	(3)	1	74	56	89	87	13	35	83	89	94	137	153	147	104	46	(12)	(10)	50	44	(4)	2	70	141	198	190	81	(125)	(108)	(108)	(83)	29	4	28	11	7	10	(133)	(99)	(73)	0
Cash from Investing Activities	(2 609) N/A	(2 588) +1%	(2 496) +4%	(441) +82%	(458) -4%	(448) +2%	(494) -10%	(352) +29%	(367) -4%	(424) -16%	(282) +33%	(466) -65%	(198) +58%	(89) +55%	(102) -15%	(158) -55%	(415) -163%	(426) -3%	(382) +10%	(314) +18%	(381) -21%	(251) +34%	(470) -87%	(425) +10%	(414) +3%	(536) -29%	(497) +7%	(532) -7%	(425) +20%	(356) +16%	(268) +25%	(214) +20%	(190) +11%	(177) +7%	(164) +7%	(195) -19%	(232) -19%	(87) +63%	(146) -68%	(131) +10%	(143) -9%	(10) +93%	(18) -80%	(65) -261%	(88) -35%	(418) -375%	(390) +7%	(297) +24%	(191) +36%	(198) -4%	(227) -15%	(247) -9%	(328) -33%	(326) +1%	(346) -6%	(435) -26%	(428) +2%	(338) +21%	(329) +3%	(262) +20%	(251) +4%	(284) -13%	(241) +15%	(222) +8%	(219) +1%	(230) -5%	(212) +8%	(199) +6%	(221) -11%	(276) -25%	(316) -14%	(415) -31%	(514) -24%	(568) -11%	(667) -17%	(879) -32%	(961) -9%	(1 106) -15%	(1 221) -10%	(1 323) -8%	(1 390) -5%	(1 460) -5%	(1 659) -14%	(1 585) +4%	(1 554) +2%	(1 453) +6%	(1 280) +12%	(1 076) +16%	(887) +18%	(800) +10%	(632) +21%	(586) +7%	(680) -16%	(590) +13%	(528) +11%	(428) +19%
Financing Cash Flow
Net Issuance of Common Stock	382	419	419	0	0	0	0	0	0	0	0	10	(127)	(51)	(51)	(73)	64	(12)	(12)	0	0	104	(65)	(162)	0	(188)	(19)	78	78	0	0	0	0	0	0	0	0	0	0	0	5	5	5	8	15	16	19	19	37	36	33	47	17	17	17	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(116)	(160)	(160)	(160)
Net Issuance of Debt	879	908	779	72	(184)	(275)	(323)	(425)	(210)	(274)	(448)	(326)	(644)	(797)	(369)	(201)	(86)	(2)	(358)	(557)	(775)	(679)	(83)	152	138	538	350	306	(19)	(456)	(535)	(732)	(640)	(528)	(504)	(711)	(526)	(748)	(785)	(355)	(877)	(785)	(713)	(669)	(260)	60	(141)	166	202	(59)	(11)	(802)	(996)	(895)	(966)	(475)	(273)	(736)	(565)	(616)	(1 030)	(677)	(677)	(984)	(976)	(778)	(873)	(345)	(70)	(271)	(110)	(82)	(51)	(64)	(61)	742	1 342	1 349	1 353	500	85	1 550	2 889	2 200	565	(865)	(2 503)	(1 765)	(465)	(216)	365	290	394	385	(60)	(163)
Cash Paid for Dividends	(371)	(388)	(388)	(388)	(750)	(390)	(390)	(390)	(28)	(392)	(393)	(393)	(393)	(388)	(388)	(388)	(388)	(393)	(392)	(392)	(392)	(392)	(392)	(392)	(392)	(384)	(384)	(384)	(384)	(208)	(208)	(208)	(208)	(234)	(234)	(234)	(234)	(286)	(286)	(286)	(286)	(315)	(315)	(315)	(315)	(317)	(317)	(317)	(317)	(319)	(319)	(319)	(319)	(373)	(373)	(373)	(373)	(400)	(400)	(400)	(400)	(507)	(507)	(507)	(507)	(613)	(613)	(613)	(613)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(693)	(400)	(400)	(799)	(800)	(800)	(800)	(801)	(800)	(797)	(797)	(792)
Other	0	0	0	(681)	0	0	0	(103)	0	0	0	(1)	0	0	0	74	0	0	0	(2)	0	0	0	0	0	0	0	(1)	0	0	0	0	0	0	0	(21)	0	0	0	(30)	0	0	0	0	0	0	0	0	0	0	0	(22)	0	0	0	23	0	0	0	(41)	0	0	1	(113)	0	0	0	(1)	(1)	0	8	(8)	(3)	0	(9)	22	57	66	94	(1)	6	84	85	180	154	28	6	(9)	(32)	(18)	(17)	(33)	(34)	(31)	(33)	(20)
Cash from Financing Activities	890 N/A	939 +6%	810 -14%	(997) N/A	(934) +6%	(665) +29%	(713) -7%	(918) -29%	(265) +71%	(693) -162%	(868) -25%	(710) +18%	(1 165) -64%	(1 237) -6%	(809) +35%	(588) +27%	(336) +43%	(333) +1%	(688) -107%	(951) -38%	(1 169) -23%	(969) +17%	(542) +44%	(402) +26%	(416) -3%	(34) +92%	(53) -56%	(1) +98%	(326) -32 500%	(665) -104%	(744) -12%	(940) -26%	(848) +10%	(762) +10%	(738) +3%	(966) -31%	(760) +21%	(1 034) -36%	(1 071) -4%	(671) +37%	(1 158) -73%	(1 095) +5%	(1 023) +7%	(976) +5%	(560) +43%	(241) +57%	(439) -82%	(132) +70%	(78) +41%	(342) -338%	(297) +13%	(1 096) -269%	(1 320) -20%	(1 273) +4%	(1 344) -6%	(825) +39%	(646) +22%	(1 136) -76%	(965) +15%	(1 057) -10%	(1 430) -35%	(1 184) +17%	(1 183) +0%	(1 604) -36%	(1 483) +8%	(1 391) +6%	(1 487) -7%	(959) +36%	(685) +29%	(965) -41%	(795) +18%	(783) +2%	(746) +5%	(757) -1%	(763) -1%	71 N/A	706 +894%	722 +2%	754 +4%	(194) N/A	(602) -210%	941 N/A	2 281 +142%	1 687 -26%	26 -98%	(1 237) N/A	(2 897) -134%	(2 573) +11%	(1 297) +50%	(1 034) +20%	(452) +56%	(544) -20%	(556) -2%	(603) -8%	(1 050) -74%	(1 135) -8%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	11	6	(8)	(8)	(31)	(19)	(4)	(5)	(17)	(41)	18	(24)	2	18	(44)	0	(2)	(2)	1	(2)	(2)	(3)	(3)	0	(2)	(2)	(2)	(3)	3	12	20	10	10	0	(9)	(6)	(13)	(10)	(10)	(3)	0	2	(1)	(4)	(5)	(12)	(7)	10	15	27	20	2	1	(10)	(4)	0	(1)	3	(4)	(6)	(7)	(10)	(3)	(2)	0	4	1	3	(1)	(6)	(7)	(13)	(13)	(8)	(5)	4	8	7	23	18	(3)	(7)	(28)	(29)	(16)	(14)	(11)	(11)	(2)	(7)	(19)	(18)	(19)
Net Change in Cash	(52) N/A	100 N/A	(38) N/A	2 N/A	(44) N/A	(8) +82%	35 N/A	(37) N/A	379 N/A	27 -93%	(95) N/A	(196) -106%	(281) -43%	(106) +62%	90 N/A	109 +21%	202 +85%	12 -94%	(60) N/A	(52) +13%	(330) -535%	(46) +86%	(26) +44%	38 N/A	(103) N/A	(2) +98%	15 N/A	93 +520%	99 +6%	89 -10%	231 +160%	108 -53%	168 +56%	71 -58%	117 +65%	(169) N/A	(53) +69%	(13) +75%	(149) -1 046%	226 N/A	(218) N/A	(160) +27%	(55) +66%	(27) +51%	279 N/A	207 -26%	1 -100%	301 +30 000%	615 +104%	480 -22%	527 +10%	(87) N/A	(536) -516%	(385) +28%	(431) -12%	(74) +83%	334 N/A	50 -85%	377 +654%	366 -3%	63 -83%	104 +65%	126 +21%	(275) N/A	(336) -22%	(194) +42%	(347) -79%	172 N/A	534 +210%	309 -42%	531 +72%	648 +22%	398 -39%	52 -87%	(193) N/A	184 N/A	822 +347%	849 +3%	727 -14%	(259) N/A	(940) -263%	(639) +32%	(22) +97%	607 N/A	(325) N/A	(170) +48%	(816) -380%	(1 435) -76%	(308) +79%	(210) +32%	142 N/A	259 +82%	63 -76%	69 +10%	(341) N/A	(177) +48%
Free Cash Flow
Free Cash Flow	947 N/A	1 091 +15%	1 023 -6%	858 -16%	762 -11%	526 -31%	655 +25%	700 +7%	430 -39%	493 +15%	392 -20%	367 -6%	470 +28%	600 +28%	374 -38%	163 -56%	253 +55%	132 -48%	352 +167%	580 +65%	537 -7%	480 -11%	303 -37%	194 -36%	83 -57%	(53) N/A	(41) +23%	70 N/A	391 +459%	721 +84%	950 +32%	1 023 +8%	987 -4%	800 -19%	814 +2%	741 -9%	667 -10%	842 +26%	790 -6%	755 -4%	799 +6%	603 -25%	626 +4%	640 +2%	536 -16%	518 -3%	479 -8%	398 -17%	589 +48%	683 +16%	675 -1%	863 +28%	693 -20%	796 +15%	832 +5%	753 -9%	989 +31%	1 116 +13%	1 286 +15%	1 335 +4%	1 403 +5%	1 279 -9%	1 280 +0%	1 253 -2%	1 068 -15%	1 106 +4%	1 005 -9%	978 -3%	1 068 +9%	1 169 +9%	1 277 +9%	1 444 +13%	1 160 -20%	766 -34%	539 -30%	130 -76%	122 -6%	62 -49%	(172) N/A	(271) -58%	(535) -97%	(1 684) -215%	(2 196) -30%	(969) +56%	(236) +76%	1 178 N/A	2 081 +77%	1 150 -45%	975 -15%	824 -15%	598 -27%	795 +33%	759 -5%	790 +4%	800 +1%	977 +22%

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Cash Flow Statement

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