Income StatementBalance SheetCash FlowSegments
Air Products and Chemicals logo

Air Products and Chemicals Income Statement

Revenue, expenses, and profitability over time

Air Products and Chemicals generated $12.3B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $2.7B with a 21.81% net margin. Gross margin stands at 31.62% and operating margin at 23.28%. Diluted EPS is $12.05, which grew 12.0% year-over-year. Based on the Q2 2026 filing.

Total Revenue (TTM)$12.5BGross Profit (TTM)$4.0BOperating Income (TTM)$2.3BNet Income (TTM)$2.1BEps Diluted (TTM)$9.43
Latest FilingQ2 2026
Report Date2026-04-30
Market Cap$64.5B
P/E Ratio24.01
ROE17.69%

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
OCI Defined Benefit Plans, Tax$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
OCI Reclassification Adjustment, Pension Plans, Net of Tax$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
Reclassification from AOCI-$102.9M-$6.5M$37.4M-$20.9M-$25.9M-$26.2M
Capital Expenditures$2.1B$1.9B$1.5B$1.5B$1.3B$1.1B
Change in Accounts Receivable$47.8M$19.1M$24.5M—-$6.1M$23.6M
Common Stock Dividends Per Share$1.8$1.8$1.8$1.8$1.8$1.8
Comprehensive Income Including Noncontrolling Interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
OCI Attributable to Noncontrolling Interest$103.1M-$44.7M$24.0M—$24.2M$200.0K
Dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Goodwill Translation and Purchase Accounting Adjustments-$38.6M—$51.3M—$7.6M-$12.8M
Comprehensive Income Attributable to Parent$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
OCI Defined Benefit Reclassification After Tax$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
OCI Defined Benefit Reclassification Tax$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
OCI Foreign Currency Translation Tax$46.2M-$34.3M-$81.0M—-$1.2M$15.6M
OCI Pension Reclassification Adjustment, Net of Tax$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
Comprehensive Income Including Noncontrolling Interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Foreign Currency Translation Gains (Losses)-$624.0M$102.3M$528.4M-$102.3M$73.5M-$105.5M
OCI FX Reclassification Adjustment (Net of Tax)—-$2.5M-$3.3M——$0.0
OCI Reclassification Pension Plans (Net of Tax)$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
Dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Income Taxes Paid, Net$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Interest Paid, Net$48.1M$48.1M$48.1M$48.1M——
OCI Foreign Currency Gain (Loss) Arising During Period, Net of Tax-$624.0M$102.3M$528.4M-$102.3M$73.5M-$105.5M
OCI Reclassification Adjustment, Foreign Currency, Net of Tax—-$2.5M-$3.3M——$0.0
OCI Foreign Currency Translation Gain (Loss), Tax$46.2M-$34.3M-$81.0M—-$1.2M$15.6M
OCI Reclassification Adjustment, Pension and Postretirement, Net of Tax$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
OCI Reclassification Adjustment, Pension and Postretirement, Tax$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
Comprehensive income (loss), including noncontrolling interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Tax Benefit of Pension Reclassification$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
Tax effect of unrealized gain (loss) on cash flow hedges-$27.8M$2.3M$15.6M-$2.1M-$4.8M-$5.2M
Total Reclassification from AOCI to Net Income$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
Share-based compensation expense related to employee stock plans$14.3M$36.7M$11.5M$9.5M$10.5M$13.7M
Pre-tax stock-based compensation cost$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Share-Based Payment Arrangement, Expense, after Tax$12.5M$29.3M$8.2M$8.3M$7.9M$12.2M
Amortization of capitalized software and acquired intangible assets$9.3M$9.3M$9.3M$9.3M——
Asset Retirement Obligation, Transfer To Held For Sale$3.9M$3.9M$3.9M$3.9M——
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation-$1.1B-$354.1M—-$468.3M-$829.6M-$75.4M
Dividends declared (in dollars per share)$1.8$1.8$1.8$1.8$1.8$1.8
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$58.9M-$1.6B$1.2B-$113.1M$788.9M$630.0M
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Federal$9.5M$9.5M$9.5M$9.5M——
Foreign$104.2M$104.2M$104.2M$104.2M——
Federal-$124.4M-$124.4M-$124.4M-$124.4M——
Deferred taxes-$6.3M-$533.8M$0.0-$57.6M$78.2M$47.4M
State-$23.8M-$23.8M-$23.8M-$23.8M——
Depreciation$381.7M$381.7M$381.7M$381.7M——
Dividends, Common Stock, Cash$393.8M$398.3M$398.4M$398.4M$398.6M$403.1M
Effect of exchange rate changes on cash, cash equivalents and restricted cash-$38.0M——-$2.7M$2.7M—
Effective tax rates$0.2$0.2$0.2—$0.2$0.2
Effective Income Tax Rate Reconciliation Equity In Earnings Losses Of Unconsolidated Subsidiary-6.7%-6.7%-6.7%-6.7%——
Effective Income Tax Rate Reconciliation, FDII, Amount—$13.1M$15.2M———
Foreign operations1.4%1.4%1.4%1.4%——
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Percent-12.3%-12.3%-12.3%-12.3%——
State income taxes – net of federal income tax benefit$0.0$0.0$0.0$0.0——
Effective Income Tax Rate Reconciliation, Tax Credits Net Of Repatriation Of Foreign Earnings0.0%0.0%0.0%0.0%——
Share-Based Payment Arrangement, Expense, Tax Benefit$4.0M$9.0M$2.8M$2.5M$2.4M$3.8M
Income tax benefit realized from option exercises$625.0K$625.0K$625.0K$625.0K——
Distributions of earnings from equity method investees$96.4M$96.4M$96.4M$96.4M——
Gain Loss On Sale Of Investments$10.1M$2.2M$34.6M$19.5M$2.2M$1.8M
Translation and other-$38.6M—$51.3M—$7.6M-$12.8M
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions$48.4M$81.0M$8.4M$132.0M$28.5M$6.2M
Tax holiday income tax benefits$7.6M$7.6M$7.6M$7.6M——
Income Tax Holiday Income Tax Benefits Per Share$0.04$0.04$0.04$0.04——
Income Tax Reconciliation Repatriation Of Foreign Earnings—$31.4M————
Income taxes paid$98.8M$98.8M$98.8M$98.8M——
Income Taxes Paid, Net$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Accounts payable and other current liabilities$30.5M-$78.2M-$167.4M-$8.9M-$191.3M-$55.1M
Increase (Decrease) in Accounts Receivable$47.8M$19.1M$24.5M—-$6.1M$23.6M
Increase (Decrease) in Inventories-$6.4M$30.8M$11.2M$200.0K$11.0M-$16.0M
Increase (Decrease) in Leasing Receivables-$15.0M-$13.0M-$12.1M-$12.4M-$12.0M-$12.1M
Increase (Decrease) in Other Operating Assets and Liabilities, Net$14.6M$556.4M$53.6M—-$8.9M-$900.0K
Increase (Decrease) in Other Receivables-$9.0M—$109.3M-$109.9M$27.8M—
Add - Incremental shares under stock-based compensation plans (in shares)200K0100K0100K100K
Interest Costs Capitalized Adjustment$100.5M$100.5M$100.5M$100.5M——
Interest Paid, Excluding Capitalized Interest, Operating Activity$48.1M$48.1M$48.1M$48.1M——
Excluded components recognized within earnings$5.1M$5.1M$5.1M$5.1M——
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders$1.4M$0.0$2.6M$3.2M$400.0K—
Minority Interest Decrease From Redemptions$5.9M—————
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$274.2M$1.6B$1.2B—-$490.1M-$101.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$2.2B-$2.2B-$1.3B—-$1.2B-$1.1B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$811.7M$328.1M$855.8M—$900.7M$1.1B
Net Income Loss Attributable To Noncontrolling Interest$32.4M-$6.9M$9.4M$5.2M$13.2M$14.4M
Net loss$649.8M-$1.7B$723.2M$0.0$691.4M$724.8M
Noncontrolling Interest, Decrease (Increase) From Redemptions Or Purchase Of Interests————$0.0$0.0
Noncontrolling Interest Increase From Sale Of Parent Equity Interest$281.0M$81.4M$123.5M$109.7M$60.6M$59.5M
Number of reportable segments1.251.251.251.255.00—
AOCI before reclass, net of taxes-$558.3M$57.3M$569.3M-$156.2M$109.0M-$106.4M
Net gains (losses) deferred$65.7M-$45.0M$40.9M—$35.5M-$900.0K
Other comprehensive income (loss)-$455.4M$63.8M$531.9M—$134.9M-$80.2M
Other income (expense), net$22.9M$13.9M$36.5M$36.8M$10.6M$14.1M
Other income, net (Note 6)$38.9M-$18.6M-$6.0M—-$1.4M$900.0K
All other operating activities-$122.6M$34.8M$119.2M$16.6M-$25.2M—
Payment for (Proceeds from) Other Investing Activity-$29.0M-$31.9M-$51.8M-$2.7M-$2.2M-$8.8M
Payments of Ordinary Dividends, Common Stock$393.6M$393.8M$398.3M$398.4M$398.4M$398.6M
Payments to Acquire Finance Receivables$15.3M$20.5M$18.0M$8.1M$0.0$0.0
Payments To Acquire Interest In Subsidiaries And Affiliates$0.0$365.4M$0.0$25.0M$20.0M—
Payments to Acquire Property, Plant, and Equipment$2.1B$1.9B$1.5B$1.5B$1.3B$1.1B
Payments to Acquire Short-Term Investments$117.6M———$0.0$0.0
Debt issued (Note 13)$459.2M$1.5B$2.0B$408.5M$382.5M$56.7M
Proceeds from Noncontrolling Interests$280.9M$74.8M$130.2M$108.7M$61.0M$59.5M
Financing — other-$38.7M-$20.3M-$20.8M-$11.5M-$32.9M-$1.9M
Proceeds from (Repayments of) Short-Term Debt-$21.5M$667.1M-$430.9M-$289.4M$67.3M$202.4M
Proceeds from redemptions/sales of short-term investments$5.0M$6.1M$111.4M$0.0$0.0$0.0
Proceeds from sale of assets$34.4M$2.1M$148.9M$60.4M$26.1M$22.9M
Reclassified net gains (losses) from AOCI into earnings-$102.9M-$6.5M$37.4M-$20.9M-$25.9M-$26.2M
Repayments of Long-Term Debt$12.1M$320.2M$47.8M$49.8M$569.6M$19.1M
Business and asset actions, attributable to noncontrolling interest—$3.5M—$7.2M——
Business and asset actions, including equity affiliate income, attributable to Air Products after tax—$2.3B$6.0M———
Business and asset actions, including equity affiliate income$0.0$2.9B$58.8M$741.2M——
Restructuring charges tax benefit—$640.6M$649.3M———
Stock-based compensation$16.4M$38.3M$11.0M$10.7M$10.6M$15.9M
Exercised (in shares)$33.63$33.63$33.63$33.63——
Excess tax benefit from stock option exercises$475.0K$475.0K$475.0K$475.0K——
Legal, executive separation, and other professional service fees in connection with response to proxy contest$29.9M$31.4M$25.0M$0.0$0.0$0.0
Shareholder activism-related costs, after tax$21.9M$31.0M$18.8M$0.0——
Net tax benefit related to legal, executive separation, and other professional service fees in connection with response to proxy contest——$6.2M———
Distributed under benefit plans54K54K54K54K——
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period13.5K13.5K13.5K13.5K——
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture-$21.8M-$3.9M-$1.1M-$9.8M-$10.9M-$900.0K
Stockholders' Equity, Other$1.8M$1.3M-$400.0K$800.0K$200.0K$1.1M
Tax reform repatriation-$8.7M-$8.7M-$8.7M-$8.7M——
Tax reform adjustment related to deemed foreign dividends—$34.9M————
Interest expense and penalties, net (benefit)/charge recognized-$50.0K-$50.0K-$50.0K-$50.0K——
Unrecognized tax benefits, refund claim$17.0M$17.0M$17.0M$17.0M——
Foreign currency effect$150.0K$150.0K$150.0K$150.0K——
Comprehensive Income (Loss), Total$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Unrealized Gain (Loss) on Derivatives, Net-$22.0M$3.9M$17.1M-$800.0K$900.0K-$2.1M
Cash Flow Hedge Reclassification, Tax-$27.8M$2.3M$15.6M-$2.1M-$4.8M-$5.2M
Pension Reclassification Adjustment, Tax$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
Cash Dividends, Common Stock$393.6M$393.8M$398.3M$398.4M$398.4M$398.6M
Cash Flow Hedge Reclassification, After Tax-$91.9M$7.0M$52.2M-$8.5M-$16.6M-$16.3M
Comprehensive Income, Including Noncontrolling Interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Currency Translation Adjustment, Net of Tax-$624.0M$102.3M$528.4M-$102.3M$73.5M-$105.5M
Amortization of Net Pension Loss, Net of Tax$11.0M$11.0M$11.5M$12.5M$9.3M$9.9M
Tax Benefit on Pension Amortization$3.3M$3.6M$3.4M$4.4M$3.4M$3.5M
Tax on Reclassification of Hedging Instruments-$27.8M$2.3M$15.6M-$2.1M-$4.8M-$5.2M
Other Comprehensive Income (Loss)$58.9M-$1.6B$1.2B-$113.1M$788.9M$630.0M
OCI Reclassifications to Net Income-$102.9M-$6.5M$37.4M-$20.9M-$25.9M-$26.2M
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Comprehensive Income Including Noncontrolling Interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Other Comprehensive Income (Loss) Before Reclassifications, Net of Tax-$558.3M$57.3M$569.3M-$156.2M$109.0M-$106.4M
Total Comprehensive Income$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8

Earnings Per Share

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share (Declared)$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Basic earnings per share$2.77$-7.77$3.20$0.00$3.04$3.19
Diluted earnings per share$2.77$-7.77$3.20$0.00$3.04$3.19
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common stock dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Dividends per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common stock dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common Stock Dividends Per Share Declared$1.8$1.8$1.8$1.8$1.8$1.8
Common stock dividends per share declared$1.8$1.8$1.8$1.8$1.8$1.8
Weighted-average shares, basic222.7M222.8M222.8M—222.8M222.8M
Weighted-average shares, diluted222.9M222.8M222.9M—222.9M222.9M

Operating Expenses

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Stock-Based Compensation Expense$16.4M$38.3M$11.0M$10.7M$10.6M$15.9M
Amortization of Finite-Lived Intangible Assets$9.3M$9.3M$9.3M$9.3M——
Total stock-based compensation$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Share-Based Compensation Expense$16.4M$38.3M$11.0M$10.7M$10.6M$15.9M
Amortization expense$9.3M$9.3M$9.3M$9.3M——
Defined Contribution Plan Cost$20.3M$20.3M$20.3M$20.3M——
Stock-based compensation expense-$21.8M-$3.9M-$1.1M-$9.8M-$10.9M-$900.0K
Stock-Based Compensation Expense (Pre-tax)$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Depreciation and amortization$366.8M$383.6M$401.0M$412.8M$370.7M$375.0M
Environmental Remediation Expense$9.4M$9.4M$9.4M$9.4M——
Allocated Share-Based Compensation Expense$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Defined Contribution Plan Cost$20.3M$20.3M$20.3M$20.3M——
Defined Contribution Plan Cost$20.3M$20.3M$20.3M$20.3M——
Share-Based Compensation Expense, Net of Tax$12.5M$29.3M$8.2M$8.3M$7.9M$12.2M
Share-Based Compensation (Operating)$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Allocated Share-Based Compensation (Net of Tax)$12.5M$29.3M$8.2M$8.3M$7.9M$12.2M
Share-Based Compensation Expense Before Income Taxes$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Severance-Related Costs$30.9M$30.9M$30.9M$30.9M——
Stock-based compensation expense$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M
Impairment and restructuring$938.5M$938.5M$938.5M$938.5M——
Purchased power and fuel from affiliates-$80.0M-$70.0M-$90.0M—-$85.0M-$105.0M
Share-Based Compensation Expense-$21.8M-$3.9M-$1.1M-$9.8M-$10.9M-$900.0K
Professional fees$8.0M$8.0M$8.0M$8.0M——
Research and development$22.0M$22.9M$24.1M$27.3M$20.4M$21.6M
Restructuring charges$0.0$2.9B$24.1M$795.0M$22.0M$0.0
Selling, general and administrative$242.4M$222.0M$222.6M$219.1M$228.7M$227.2M
Share-Based Compensation$16.4M$38.3M$11.0M$10.7M$10.6M$15.9M
Stock-Based Compensation (Before Tax)$16.5M$38.3M$11.0M$10.8M$10.3M$16.0M

Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Unrecognized Tax Benefits Current Period Increases—$22.5M$22.5M———
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.2—$0.2$0.2
Effective Tax Rate$0.2$0.2$0.2—$0.2$0.2
Cash Paid for Income Taxes$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Current income tax expense (benefit)$115.1M$115.1M$115.1M$115.1M——
Effective Tax Rate, Continuing Operations$0.2$0.2$0.2—$0.2$0.2
Stock-Based Compensation Tax Benefit$4.0M$9.0M$2.8M$2.5M$2.4M$3.8M
State and Local Income Taxes, Net$1.4M$1.4M$1.4M$1.4M——
Tax Reconciliation: Other Adjustments$0.0$0.0$0.0$0.0——
Current State Tax Expense$1.4M$1.4M$1.4M$1.4M——
Effective Income Tax Rate, Continuing Operations$0.2$0.2$0.2—$0.2$0.2
Tax Reconciliation, Foreign Rate Differential$0.0$0.0$0.0$0.0——
Tax Reconciliation, Other Items$0.0$0.0$0.0$0.0——
Tax Reconciliation, State and Local Taxes$0.0$0.0$0.0$0.0——
Effective Tax Rate$0.2$0.2$0.2—$0.2$0.2
Current State and Local Tax Expense (Benefit)$1.4M$1.4M$1.4M$1.4M——
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.2—$0.2$0.2
Income Taxes Paid, Net$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Share-Based Compensation Tax Benefit$4.0M$9.0M$2.8M$2.5M$2.4M$3.8M
Current State and Local Tax Expense$1.4M$1.4M$1.4M$1.4M——
Income tax expense$140.7M-$505.8M$159.6M—$159.4M$158.7M
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.2—$0.2$0.2
Share-Based Compensation Tax Benefit$4.0M$9.0M$2.8M$2.5M$2.4M$3.8M
Unrecognized Tax Benefits Reevaluation (Statute Lapse)$5.0M$5.0M$5.0M$5.0M——
Current Income Tax Expense$115.1M$115.1M$115.1M$115.1M——
Current State and Local Tax Expense (Benefit)$1.4M$1.4M$1.4M$1.4M——
Effective Tax Rate (Continuing Operations)$0.2$0.2$0.2—$0.2$0.2
Income Taxes Paid, Net$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Effective Income Tax Rate$0.2$0.2$0.2—$0.2$0.2
Current State and Local Tax Expense (Benefit)$1.4M$1.4M$1.4M$1.4M——
Effective Tax Rate, Continuing Operations$0.2$0.2$0.2—$0.2$0.2
Current State and Local Tax Expense (Benefit)$1.4M$1.4M$1.4M$1.4M——
Income and Other Taxes$123.6M$586.5M$146.0M$84.6M$109.1M$154.3M
Current State and Local Tax Expense$1.4M$1.4M$1.4M$1.4M——
Effective Tax Rate Continuing Operations$0.2$0.2$0.2—$0.2$0.2
Tax Reconciliation Other Adjustments$0.0$0.0$0.0$0.0——
Tax Reconciliation State and Local Taxes$0.0$0.0$0.0$0.0——

Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue Recognized from Contract Liability$55.0M$20.0M$15.0M$20.0M$30.0M$90.0M
Revenue Recognized from Contract Liabilities$55.0M$20.0M$15.0M$20.0M$30.0M$90.0M
Gift Card Revenue Recognized$55.0M$20.0M$15.0M$20.0M$30.0M$90.0M
Revenue Recognized from Contract Liability$55.0M$20.0M$15.0M$20.0M$30.0M$90.0M
Total revenue$2.9B$2.9B$3.0B$3.2B$3.1B$3.2B

Other Income & Expense

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Cash Paid for Interest$48.1M$48.1M$48.1M$48.1M——
Income from equity method investments$150.6M$145.5M$167.6M$184.0M$172.2M$179.4M
Equity Method Investment Dividends$96.4M$96.4M$96.4M$96.4M——
Other Charges$38.9M-$18.6M-$6.0M—-$1.4M$900.0K
Interest Costs Incurred$154.0M$154.0M$154.0M$154.0M——
Interest expense$42.6M$42.2M$61.4M$67.8M$54.5M$49.5M
Distributions of earnings from equity method investees$96.4M$96.4M$96.4M$96.4M——
Interest costs capitalized adjustment$100.5M$100.5M$100.5M$100.5M——
Interest costs incurred$154.0M$154.0M$154.0M$154.0M——
Interest Costs Incurred$154.0M$154.0M$154.0M$154.0M——

Net Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Common Dividends Declared (Per Share)$1.8$1.8$1.8$1.8$1.8$1.8
Comprehensive income (loss), including noncontrolling interest$194.4M-$1.7B$1.3B-$125.2M$826.3M$644.6M
Common Stock Dividends$393.6M$393.8M$398.3M$398.4M$398.4M$398.6M
Net income attributable to noncontrolling interests$32.4M-$6.9M$9.4M$5.2M$13.2M$14.4M
Net income$617.4M-$1.7B$713.8M$0.0$678.2M$710.4M
Common Stock Dividends$393.6M$393.8M$398.3M$398.4M$398.4M$398.6M

Income Before Tax

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Income before income taxes$790.5M-$2.2B$890.8M—$850.8M$883.5M
Income (Loss) from Continuing Operations Before Income Taxes, Domestic-$478.0M-$478.0M-$478.0M-$478.0M——
Income (Loss) from Continuing Operations Before Income Taxes, Foreign$205.9M$205.9M$205.9M$205.9M——

Operating Income

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Operating income$643.6M-$2.3B$790.6M$0.0$734.5M$752.7M

Cost of Revenue

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Total cost of revenue$2.0B$2.1B$2.0B$2.1B$2.1B$2.2B