0000789019 2016-12-31 0000789019 2017-12-31 0000789019 2018-12-31 0000789019 2019-12-31 0000789019 2020-12-31 0000789019 2021-12-31 0000789019 2022-12-31 0000789019 2023-12-31 0000789019 2016-01-01 2016-12-31 0000789019 2017-01-01 2017-12-31 0000789019 2018-01-01 2018-12-31 0000789019 2019-01-01 2019-12-31 0000789019 2020-01-01 2020-12-31 0000789019 2021-01-01 2021-12-31 0000789019 2022-01-01 2022-12-31 0000789019 2023-01-01 2023-12-31 xbrli:shares iso4217:USD xbrli:shares iso4217:USD xbrli:pure

Inline XBRL Business Report

Component: (Network and Table)
Network
01-Heading
(http://www.example.com/Heading)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Heading [Hypercube] Period [Axis]
2018-12-31
Heading [Hypercube]
 
Heading [Hierarchy]
 
Valuation Date
2018-09-01  
Share Price on Valuation Date
112.33  
Diluted Shares Outstanding
7,794,000,000  
Component: (Network and Table)
Network
02-Selected Operating Data
(http://www.example.com/SelectedOperatingData)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Selected Operating Data [Hypercube] Period [Axis]
2023-01-01 - 2023-12-31
2022-01-01 - 2022-12-31
2021-01-01 - 2021-12-31
2020-01-01 - 2020-12-31
2019-01-01 - 2019-12-31
2018-01-01 - 2018-12-31
2017-01-01 - 2017-12-31
2016-01-01 - 2016-12-31
Selected Operating Data [Hypercube]
 
 
 
 
 
 
 
 
Selected Operating Data [Hierarchy]
 
 
 
 
 
 
 
 
Revenue
177,735,883,600  
161,578,076,000  
146,889,160,000  
133,535,600,000  
121,396,000,000  
110,360,000,000  
89,950,000,000  
85,320,000,000  
EBITDA
71,094,353,440  
64,631,230,400  
58,755,664,000  
53,414,240,000  
48,558,400,000  
49,468,000,000  
34,149,000,000  
27,616,000,000  
EBIT
53,320,765,080  
48,473,422,800  
44,066,748,000  
40,060,680,000  
36,418,800,000  
46,735,000,000  
31,927,000,000  
26,373,000,000  
Depreciation and Amortization
14,218,870,688  
12,926,246,080  
11,751,132,800  
10,682,848,000  
9,711,680,000  
10,261,000,000  
8,778,000,000  
6,622,000,000  
Growth Rates, Selected Operating Data [Hierarchy]
 
 
 
 
 
 
 
 
Revenue Growth Rate (%)
10.00%  
10.00%  
10.00%  
10.00%  
10.00%  
      
EBITDA Margin (%)
40.00%  
40.00%  
40.00%  
40.00%  
40.00%  
      
EBIT Margin (%)
30.00%  
30.00%  
30.00%  
30.00%  
30.00%  
      
Depreciation and Amortization as Percent of Revenue
8.00%  
8.00%  
8.00%  
8.00%  
8.00%  
      
Component: (Network and Table)
Network
03-Selected Balance Sheet and Other Data
(http://www.example.com/SelectedBalanceSheetAndOtherData)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Selected Balance Sheet and Other Data [Hypercube] Period [Axis]
2023-01-01 - 2023-12-31
2022-01-01 - 2022-12-31
2021-01-01 - 2021-12-31
2020-01-01 - 2020-12-31
2019-01-01 - 2019-12-31
2018-12-31
2017-12-31
2016-12-31
Selected Balance Sheet and Other Data [Hypercube]
 
 
 
 
 
 
 
 
Selected Balance Sheet and Other Data [Hierarchy]
 
 
 
 
 
 
 
 
Cash
11,946,000,000  
11,946,000,000  
11,946,000,000  
11,946,000,000  
11,946,000,000  
11,946,000,000  
7,663,000,000  
6,510,000,000  
Accounts Receivable
46,240,759,093  
40,921,025,746  
36,213,297,120  
32,333,301,000  
29,129,100,000  
26,481,000,000  
19,792,000,000  
18,277,000,000  
Inventories
3,284,212,801  
3,127,821,716  
2,978,877,825  
2,837,026,500  
2,701,930,000  
2,662,000,000  
2,181,000,000  
2,251,000,000  
Prepaid Expenses
13,578,672,373  
11,807,541,194  
10,267,427,125  
8,928,197,500  
7,763,650,000  
6,751,000,000  
4,897,000,000  
5,892,000,000  
Accounts Payable
13,877,764,670  
12,616,149,700  
11,469,227,000  
10,426,570,000  
9,478,700,000  
8,617,000,000  
7,390,000,000  
6,898,000,000  
Accrued Expenses
9,828,942,530  
8,935,402,300  
8,123,093,000  
7,384,630,000  
6,713,300,000  
6,103,000,000  
5,819,000,000  
5,264,000,000  
Debt
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
77,837,000,000  
40,949,000,000  
Property, Plant, and Equipment, Gross
94,509,558,330  
85,917,780,300  
78,107,073,000  
71,006,430,000  
64,551,300,000  
58,683,000,000  
47,913,000,000  
38,156,000,000  
Growth Rates [Hierarchy]
 
 
 
 
 
 
 
 
Accounts Receivable Growth (%)
13.00%  
13.00%  
12.00%  
11.00%  
10.00%  
      
Inventories Growth (%)
5.00%  
5.00%  
5.00%  
5.00%  
1.50%  
      
Prepaid Expenses Growth (%)
15.00%  
15.00%  
15.00%  
15.00%  
15.00%  
      
Accounts Payable Growth (%)
10.00%  
10.00%  
10.00%  
10.00%  
10.00%  
      
Accrued Expenses Growth (%)
10.00%  
10.00%  
10.00%  
10.00%  
10.00%  
      
Capital Expenditures Growth (%)
10.00%  
10.00%  
10.00%  
10.00%  
10.00%  
      
Component: (Network and Table)
Network
04-Free Cash Flow Buildup
(http://www.example.com/FreeCashFlowBuildup)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Free Cash Flow Buildup [Hypercube] Period [Axis]
2023-01-01 - 2023-12-31
2022-01-01 - 2022-12-31
2021-01-01 - 2021-12-31
2020-01-01 - 2020-12-31
2019-01-01 - 2019-12-31
2018-01-01 - 2018-12-31
2017-01-01 - 2017-12-31
2016-01-01 - 2016-12-31
Free Cash Flow Buildup [Hypercube]
 
 
 
 
 
 
 
 
Free Cash Flow Buildup [Hierarchy]
 
 
 
 
 
 
 
 
Total Revenues
177,735,883,600  
161,578,076,000  
146,889,160,000  
133,535,600,000  
121,396,000,000  
110,360,000,000  
89,950,000,000  
85,320,000,000  
EBITDA
71,094,353,440  
64,631,230,400  
58,755,664,000  
53,414,240,000  
48,558,400,000  
49,468,000,000  
34,149,000,000  
27,616,000,000  
EBIT
53,320,765,080  
48,473,422,800  
44,066,748,000  
40,060,680,000  
36,418,800,000  
46,735,000,000  
31,927,000,000  
26,373,000,000  
Tax Rate
22.00%  
22.00%  
22.00%  
22.00%  
22.00%  
22.00%  
    
EBIAT
41,590,196,762  
37,809,269,784  
34,372,063,440  
31,247,330,400  
28,406,664,000  
      
Unlevered Free Cash Flows [Roll Up]
 
 
 
 
 
 
 
 
EBIAT
41,590,196,762  
37,809,269,784  
34,372,063,440  
31,247,330,400  
28,406,664,000  
      
Depreciation and Amortization
14,218,870,688  
12,926,246,080  
11,751,132,800  
10,682,848,000  
9,711,680,000  
10,261,000,000  
8,778,000,000  
6,622,000,000  
Accounts Receivable Increase (Decrease)
(5,319,733,347) 
(4,707,728,626) 
(3,879,996,120) 
(3,204,201,000) 
(2,648,100,000) 
      
Inventories Increase (Decrease)
(156,391,085) 
(148,943,891) 
(141,851,325) 
(135,096,500) 
(39,930,000) 
      
Prepaid Expenses Increase (Decrease)
(1,771,131,179) 
(1,540,114,069) 
(1,339,229,625) 
(1,164,547,500) 
(1,012,650,000) 
      
Accounts Payable Increase (Decrease)
1,261,614,970  
1,146,922,700  
1,042,657,000  
947,870,000  
861,700,000  
      
Accrued Expenses Increase (Decrease)
893,540,230  
812,309,300  
738,463,000  
671,330,000  
610,300,000  
      
Capital Expenditures
(8,591,778,030) 
(7,810,707,300) 
(7,100,643,000) 
(6,455,130,000) 
(5,868,300,000) 
      
Unlevered Free Cash Flows
42,125,189,009  
 
38,487,253,978  
 
35,442,596,170  
 
32,590,403,400  
 
30,021,364,000  
 
 
 
 
 
 
 
Present Value of Free Cash Flows [Hierarchy]
 
 
 
 
 
 
 
 
Unlevered Free Cash Flows
42,125,189,009  
 
38,487,253,978  
 
35,442,596,170  
 
32,590,403,400  
 
30,021,364,000  
 
 
 
 
 
 
 
Discount Rate (WACC)
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
    
Present Value of Free Cash Flows
23,608,666,306  
24,218,129,591  
25,040,516,417  
25,852,442,011  
26,738,456,798  
125,458,211,123  
    
Sum of Present Values of FCFs
          
125,458,211,123  
    
Component: (Network and Table)
Network
05-Terminal Value
(http://www.example.com/TerminalValue)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Terminal Value [Hypercube] Period [Axis]
2023-01-01 - 2023-12-31
2022-01-01 - 2022-12-31
2021-01-01 - 2021-12-31
2020-01-01 - 2020-12-31
2019-01-01 - 2019-12-31
2018-01-01 - 2018-12-31
Terminal Value [Hypercube]
 
 
 
 
 
 
Terminal Value [Hierarchy]
 
 
 
 
 
 
Long Term Growth Rate
          
1.00%  
WACC
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
Free Cash Flow
          
46,337,707,909  
Terminal Value
          
2,034,275,284,202  
Present Value of Terminal Value
          
1,140,090,465,809  
Component: (Network and Table)
Network
06-Weighted Average Cost of Capital (WACC)
(http://www.example.com/WACC)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Weighted Average Cost of Capital [Hypercube] Period [Axis]
2023-01-01 - 2023-12-31
2022-01-01 - 2022-12-31
2021-01-01 - 2021-12-31
2020-01-01 - 2020-12-31
2019-01-01 - 2019-12-31
2018-01-01 - 2018-12-31
2017-12-31
2016-12-31
Weighted Average Cost of Capital [Hypercube]
 
 
 
 
 
 
 
 
Weighted Average Cost of Capital Components [Hierarchy]
 
 
 
 
 
 
 
 
Share Price
          
112.33  
    
Diluted Shares Outstanding
          
7,794,000,000  
    
Cost of Debt
          
5.20%  
    
Tax Rate
22.00%  
22.00%  
22.00%  
22.00%  
22.00%  
22.00%  
    
After-tax Cost of Debt
          
4.10%  
    
Cost of Equity
          
13.00%  
    
Total Capital [Roll Up]
 
 
 
 
 
 
 
 
Total Debt
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
76,898,000,000  
77,837,000,000  
40,949,000,000  
Total Equity
          
875,500,020,000  
    
Total Capital
 
 
 
 
 
 
 
 
 
 
952,398,020,000  
 
 
 
 
 
Weightings [Hierarchy]
 
 
 
 
 
 
 
 
Debt Weighting
          
8.10%  
    
Equity Weighting
          
91.90%  
    
Resulting WACC [Hierarchy]
 
 
 
 
 
 
 
 
WACC
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
12.30%  
    
Component: (Network and Table)
Network
07-Enterprise Value to Equity Value
(http://www.example.com/EnterpriseValueToEquityValue)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Enterprise Value to Equity Value [Hypercube] Period [Axis]
2018-12-31
Enterprise Value to Equity Value [Hypercube]
 
Equity Value [Roll Up]
 
Enterprise Value
1,265,548,676,932  
Less: Net Debt
64,952,000,000  
Equity Value
1,200,596,676,932  
 
Equity Value per Share [Hierarchy]
 
Equity Value
1,200,596,676,932  
 
Diluted Shares Outstanding
7,794,000,000  
Equity Value per Share
154.04  
Component: (Network and Table)
Network
08-Conclusion
(http://www.example.com/Conclusion)
Table (Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] 0000789019 (http://www.sec.gov/CIK)
Conclusion [Hypercube] Period [Axis]
2018-12-31
Conclusion [Hypercube]
 
Valuation Gap [Roll Up]
 
Equity Value per Share
154.04  
Share Price on Valuation Date
112.33  
Valuation Gap per Share
41.71