{
 "ok": true,
 "cik": "1996862",
 "ticker": "BG",
 "name": "BUNGE GLOBAL SA",
 "filings": [
  {
   "form": "8-K",
   "filed": "2026-09-21",
   "items": [
    "8.01 Other Events",
    "9.01 Financial Statements and Exhibits"
   ],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026062880/0001628280-26-062880-index.htm"
  },
  {
   "form": "8-K",
   "filed": "2026-09-03",
   "items": [
    "5.02 Departure or Election of Directors; Appointment of Officers",
    "9.01 Financial Statements and Exhibits"
   ],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026060388/0001628280-26-060388-index.htm"
  },
  {
   "form": "8-K",
   "filed": "2026-08-19",
   "items": [
    "8.01 Other Events",
    "9.01 Financial Statements and Exhibits"
   ],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000110465926098782/0001104659-26-098782-index.htm"
  },
  {
   "form": "10-Q",
   "filed": "2026-07-29",
   "items": [],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026050540/0001628280-26-050540-index.htm"
  },
  {
   "form": "8-K",
   "filed": "2026-07-29",
   "items": [
    "2.02 Results of Operations and Financial Condition",
    "9.01 Financial Statements and Exhibits"
   ],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026050334/0001628280-26-050334-index.htm"
  },
  {
   "form": "8-K",
   "filed": "2026-05-22",
   "items": [
    "5.07 Submission of Matters to a Vote of Security Holders",
    "9.01 Financial Statements and Exhibits"
   ],
   "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026037544/0001628280-26-037544-index.htm"
  }
 ],
 "events12m": 17,
 "healthWatch": {
  "window": "last 12 months",
  "since": "2025-09-26",
  "signals": [
   {
    "code": "5.02",
    "label": "Director or officer change",
    "count": 3,
    "latest": {
     "filed": "2026-09-03",
     "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026060388/0001628280-26-060388-index.htm"
    }
   }
  ],
  "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt."
 },
 "sources": {
  "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001996862.json",
  "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1996862"
 },
 "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.",
 "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.",
 "edgar": "🫧 Edgar looked up BUNGE GLOBAL SA ($BG). Last filing: 8-K (8.01 Other Events), 2026-09-21. 17 event filings (8-K) in the past twelve months.",
 "auditor": {
  "changes": [],
  "nonReliance": [],
  "restatedSince": null
 },
 "metrics": {
  "fiscalYearEnd": "2025-12-31",
  "revenue": 70329000000,
  "revenueGrowth1y": 0.3242637644046096,
  "revenueGrowthPerYear": 0.04421818525741106,
  "yearsOfData": 5,
  "operatingMargin": null,
  "operatingMarginPrior": null,
  "netMargin": 0.011986520496523483,
  "operatingCashFlow": 844000000,
  "capitalSpending": 1723000000,
  "freeCashFlow": -879000000,
  "researchAndDevelopment": 28000000,
  "researchShareOfRevenue": 0.0003981287946650742,
  "cash": 1135000000,
  "longTermDebt": 10168000000,
  "longTermDebtChange": 0.8959537572254335,
  "revenueHistory": [
   {
    "fiscalYearEnd": "2021-12-31",
    "revenue": 59152000000
   },
   {
    "fiscalYearEnd": "2022-12-31",
    "revenue": 67232000000
   },
   {
    "fiscalYearEnd": "2023-12-31",
    "revenue": 59540000000
   },
   {
    "fiscalYearEnd": "2024-12-31",
    "revenue": 53108000000
   },
   {
    "fiscalYearEnd": "2025-12-31",
    "revenue": 70329000000
   }
  ],
  "totalEquity": 15904000000,
  "totalAssets": 44528000000,
  "equityRatio": 0.35716852317642833,
  "returnOnEquity": 0.05300553319919517,
  "dividendsPaid": 459000000,
  "payoutRatio": 0.5444839857651246,
  "dividendPerShare": 2.8,
  "dividendYearsRising": 4,
  "dividendCut": false,
  "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.",
  "earningsPerShare": 4.95,
  "sharesOutstanding": 166466940,
  "bookValuePerShare": 95.53848950428235,
  "revenuePerShare": 422.4802834725021,
  "range80": {
   "low": 64824098836.55994,
   "high": 96585178754.34941,
   "baseline": 82263431851.08775,
   "n": 1471,
   "band": "b10",
   "bandLabel": "$10B+",
   "method": "v4.1",
   "credibility": 0.5,
   "growthYears": 4,
   "ownVolatility": 0.1963139620860745,
   "classVolatility": 0.06659579566308972,
   "volatility": 0.14658473950233136
  },
  "ifPaceHeld": {
   "low": 64824098836.55994,
   "high": 96585178754.34941
  }
 },
 "edgarette": "🔖 Exposure: revenue $70.3B (FY2025), total debt $10.2B. Experience: revenue up 32.4% on the year, up 4.4% a year over 4 years. Soundness: equity 35.7% of assets, return on equity 5.3%, payout 54.4% of profit, dividend per share up 4 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $64.8B and $96.6B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $54.4B to $113.3B. A statistical range, not company guidance. Against peers (47 filers, $50M+ revenue, its industry group): growth 32.4% against 2.7%.",
 "peers": {
  "sic": 2070,
  "sicDescription": "Fats & Oils",
  "calendarYear": 2025,
  "minRevenue": 50000000,
  "depth": 2,
  "group": "20",
  "growth": [
   0.0273,
   50
  ],
  "opMargin": [
   0.0737,
   47
  ],
  "equityRatio": [
   0.4422,
   46
  ],
  "returnOnEquity": [
   0.0949,
   41
  ],
  "payoutRatio": [
   0.7155,
   23
  ]
 },
 "summary": "Bunge Global (BG) grew revenue 32.4% in FY2025 to $70.3 billion, equity 35.7% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.",
 "chart": "<figure class=\"cmp\"><figcaption>BUNGE GLOBAL SA against its own record and its peers</figcaption><svg viewBox=\"0 0 560 138\" width=\"100%\" role=\"img\" aria-label=\"Comparison chart\"><rect x=\"0\" y=\"0\" width=\"560\" height=\"138\" fill=\"none\"/><text x=\"0\" y=\"34\" font-size=\"11\" fill=\"#6f6450\">Revenue, on the year</text><rect x=\"148\" y=\"25\" width=\"338\" height=\"10\" rx=\"5\" fill=\"#efe7d6\"/><line x1=\"292.8571428571429\" y1=\"21\" x2=\"292.8571428571429\" y2=\"39\" stroke=\"#cfc5ae\" stroke-width=\"1\"/><line x1=\"306.03914285714285\" y1=\"20\" x2=\"306.03914285714285\" y2=\"40\" stroke=\"#c9a84c\" stroke-width=\"2.5\"/><title>Peer median 2.7%</title><circle cx=\"449.4302176696544\" cy=\"30\" r=\"6\" fill=\"#0a2240\" stroke=\"#fff\" stroke-width=\"1.5\"/><text x=\"494\" y=\"34\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">32.4%</text><text x=\"0\" y=\"60\" font-size=\"11\" fill=\"#6f6450\">Equity of assets</text><rect x=\"148\" y=\"51\" width=\"338\" height=\"10\" rx=\"5\" fill=\"#efe7d6\"/><line x1=\"297.4636\" y1=\"46\" x2=\"297.4636\" y2=\"66\" stroke=\"#c9a84c\" stroke-width=\"2.5\"/><title>Peer median 44.2%</title><circle cx=\"268.7229608336328\" cy=\"56\" r=\"6\" fill=\"#0a2240\" stroke=\"#fff\" stroke-width=\"1.5\"/><text x=\"494\" y=\"60\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">35.7%</text><text x=\"0\" y=\"86\" font-size=\"11\" fill=\"#6f6450\">Return on equity</text><rect x=\"148\" y=\"77\" width=\"338\" height=\"10\" rx=\"5\" fill=\"#efe7d6\"/><line x1=\"232.5\" y1=\"73\" x2=\"232.5\" y2=\"91\" stroke=\"#cfc5ae\" stroke-width=\"1\"/><line x1=\"272.59524999999996\" y1=\"72\" x2=\"272.59524999999996\" y2=\"92\" stroke=\"#c9a84c\" stroke-width=\"2.5\"/><title>Peer median 9.5%</title><circle cx=\"254.89483777665995\" cy=\"82\" r=\"6\" fill=\"#0a2240\" stroke=\"#fff\" stroke-width=\"1.5\"/><text x=\"494\" y=\"86\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">5.3%</text><text x=\"0\" y=\"112\" font-size=\"11\" fill=\"#6f6450\">Payout of profit</text><rect x=\"148\" y=\"103\" width=\"338\" height=\"10\" rx=\"5\" fill=\"#efe7d6\"/><line x1=\"349.5325\" y1=\"98\" x2=\"349.5325\" y2=\"118\" stroke=\"#c9a84c\" stroke-width=\"2.5\"/><title>Peer median 71.5%</title><circle cx=\"301.3629893238434\" cy=\"108\" r=\"6\" fill=\"#0a2240\" stroke=\"#fff\" stroke-width=\"1.5\"/><text x=\"494\" y=\"112\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">54.4%</text><text x=\"0\" y=\"136\" font-size=\"10\" fill=\"#8b8375\">Gold tick: the median of 23–46 peers with $50M+ revenue in fats &amp; oils</text></svg></figure>",
 "chartHorizon": "<figure class=\"cmp horizon\"><figcaption>Handed back now, or kept to compound</figcaption><svg viewBox=\"0 0 560 136\" width=\"100%\" role=\"img\" aria-label=\"Where the profit goes\"><text x=\"0\" y=\"14\" font-size=\"11\" fill=\"#6f6450\">Of each dollar of profit</text><rect x=\"0\" y=\"34\" width=\"560\" height=\"20\" rx=\"6\" fill=\"#efe7d6\"/><rect x=\"0\" y=\"34\" width=\"304.9110320284698\" height=\"20\" rx=\"6\" fill=\"#c9a84c\"/><rect x=\"304.9110320284698\" y=\"34\" width=\"255.08896797153022\" height=\"20\" rx=\"6\" fill=\"#0a2240\"/><text x=\"6\" y=\"48\" font-size=\"11\" font-weight=\"700\" fill=\"#2a2008\">54.4% paid out</text><text x=\"312.9110320284698\" y=\"48\" font-size=\"11\" font-weight=\"700\" fill=\"#f4efe3\">45.6% kept</text><text x=\"0\" y=\"76\" font-size=\"11\" fill=\"#6f6450\">Handed back per share</text><text x=\"250\" y=\"76\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">$2.8</text><text x=\"320\" y=\"76\" font-size=\"10.5\" fill=\"#8b8375\">up 4 years running</text><text x=\"0\" y=\"94\" font-size=\"11\" fill=\"#6f6450\">Growth its own profit can fund</text><text x=\"250\" y=\"94\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">2.4%</text><text x=\"320\" y=\"94\" font-size=\"10.5\" fill=\"#8b8375\">retained x return on equity</text><text x=\"0\" y=\"112\" font-size=\"11\" fill=\"#6f6450\">Revenue growth it managed</text><text x=\"250\" y=\"112\" font-size=\"11\" font-weight=\"700\" fill=\"#0a2240\">32.4%</text><text x=\"320\" y=\"112\" font-size=\"10.5\" fill=\"#8b8375\">last year, for comparison</text></svg><p class=\"cmpnote\">Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.</p></figure>",
 "backtest": {
  "tests": 1,
  "hits": 0,
  "rate": 0,
  "method": "v4",
  "byYear": {
   "2025": [
    0,
    1
   ]
  },
  "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample."
 },
 "registry": {
  "logged": "2026-09-26T16:35:21.143Z",
  "hash": "22bf4cdddd4ffc8b",
  "status": "open"
 },
 "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.",
 "schema": "pops4.edgarette.card/1",
 "card": {
  "summary": "Bunge Global (BG) grew revenue 32.4% in FY2025 to $70.3 billion, equity 35.7% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.",
  "exposure": {
   "fiscalYearEnd": "2025-12-31",
   "revenue": 70329000000,
   "totalDebt": 10168000000,
   "cash": 1135000000
  },
  "experience": {
   "revenueGrowth1y": 0.3242637644046096,
   "revenueGrowthPerYear": 0.04421818525741106,
   "operatingMargin": null,
   "operatingMarginPrior": null,
   "netMargin": 0.011986520496523483,
   "freeCashFlow": -879000000
  },
  "soundness": {
   "equityRatio": 0.35716852317642833,
   "returnOnEquity": 0.05300553319919517,
   "payoutRatio": 0.5444839857651246,
   "dividendPerShare": 2.8,
   "dividendYearsRising": 4,
   "dividendCut": false,
   "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown."
  },
  "peers": {
   "sic": 2070,
   "sicDescription": "Fats & Oils",
   "calendarYear": 2025,
   "minRevenue": 50000000,
   "depth": 2,
   "group": "20",
   "growth": [
    0.0273,
    50
   ],
   "opMargin": [
    0.0737,
    47
   ],
   "equityRatio": [
    0.4422,
    46
   ],
   "returnOnEquity": [
    0.0949,
    41
   ],
   "payoutRatio": [
    0.7155,
    23
   ]
  },
  "credibility": {
   "auditedYears": 5,
   "weight": "reasonable",
   "standard": "ASOP No. 25",
   "nonReliance": null,
   "auditorChange": null
  },
  "healthWatch": {
   "window": "last 12 months",
   "since": "2025-09-26",
   "signals": [
    {
     "code": "5.02",
     "label": "Director or officer change",
     "count": 3,
     "latest": {
      "filed": "2026-09-03",
      "url": "https://www.sec.gov/Archives/edgar/data/1996862/000162828026060388/0001628280-26-060388-index.htm"
     }
    }
   ],
   "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt."
  },
  "range": {
   "low": 64824098836.55994,
   "high": 96585178754.34941,
   "baseline": 82263431851.08775,
   "coverage": 0.8,
   "method": "v4.1",
   "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024",
   "calibratedOn": {
    "companyYears": 1471,
    "sizeBand": "$10B+",
    "fitYears": [
     2018,
     2022
    ],
    "tuneYear": 2023,
    "testYear": 2024,
    "coverageOnTestYear": 0.8341
   },
   "credibility": {
    "weightOnOwnRecord": 0.5,
    "growthYears": 4,
    "ownVolatility": 0.1963139620860745,
    "classVolatility": 0.06659579566308972,
    "pricedVolatility": 0.14658473950233136,
    "k": 3
   },
   "stress": {
    "low": 54408090131.9889,
    "high": 113319236829.21092,
    "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included"
   },
   "kind": "a statistical range, not company guidance; no view on the share price",
   "track": {
    "backtest": {
     "tests": 1,
     "hits": 0,
     "rate": 0,
     "method": "v4",
     "byYear": {
      "2025": [
       0,
       1
      ]
     },
     "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample."
    },
    "registry": {
     "logged": "2026-09-26T16:35:21.143Z",
     "hash": "22bf4cdddd4ffc8b",
     "status": "open"
    },
    "scorecard": "https://www.pops4.com/boards/scorecard"
   }
  },
  "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.",
  "sources": {
   "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001996862.json",
   "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1996862"
  },
  "speedCash": {
   "fiscalYear": 2025,
   "cashConversion": 0.012,
   "growth3y": 0.0151,
   "volatility": 0.1963,
   "paysDividend": true,
   "raisedDividend": true,
   "equityRatio": 0.3572,
   "quadrant": {
    "code": "sj",
    "label": "Slow and jumpy",
    "plain": "growing slower than its size class, with revenue that swings more"
   },
   "compass": {
    "code": "fading",
    "inside": "Turns 1.2% of revenue into operating cash; revenue growing 1.5% a year over three years; pays and raised its dividend.",
    "outside": "Among $10B+ companies: 7th percentile for cash, 34th for growth.",
    "emoji": "🍂",
    "label": "Fading",
    "plain": "slow and jumpy, lagging its peers"
   },
   "band": "$10B+",
   "cashPctInClass": 7,
   "growthPctInClass": 34,
   "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class"
  },
  "harbor": {
   "signs": [
    {
     "key": "slowjumpy",
     "text": "slow and jumpy: growing slower than its size class, with revenue that swings more"
    }
   ],
   "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.",
   "level": 1,
   "name": "Sound ship",
   "plain": "one warning sign"
  },
  "cashFlow": {
   "fiscalYearEnd": "2025-12-31",
   "operating": 844000000,
   "investing": -5227000000,
   "financing": 2229000000,
   "capitalSpending": 1723000000,
   "free": -879000000,
   "trend": [
    {
     "fiscalYearEnd": "2021-12-31",
     "operating": -2894000000,
     "free": -3293000000
    },
    {
     "fiscalYearEnd": "2022-12-31",
     "operating": -5549000000,
     "free": -6104000000
    },
    {
     "fiscalYearEnd": "2023-12-31",
     "operating": 3308000000,
     "free": 2186000000
    },
    {
     "fiscalYearEnd": "2024-12-31",
     "operating": 1900000000,
     "free": 524000000
    },
    {
     "fiscalYearEnd": "2025-12-31",
     "operating": 844000000,
     "free": -879000000
    }
   ],
   "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)."
  },
  "investments": {
   "fiscalYearEnd": "2025-12-31",
   "cash": 1135000000,
   "shortTerm": 861000000,
   "longTerm": 136000000,
   "equityHoldings": null,
   "totalAssets": 44528000000,
   "ladder": null,
   "currentRatio": 1.61,
   "unrealizedGain": null,
   "unrealizedLoss": null,
   "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here."
  }
 },
 "definitions": {
  "operatingMargin": "Operating income divided by revenue.",
  "netMargin": "Net income divided by revenue.",
  "freeCashFlow": "Cash from operations minus spending on property and equipment.",
  "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.",
  "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.",
  "returnOnEquity": "Net income for the year against shareholders equity at year end.",
  "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.",
  "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.",
  "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.",
  "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.",
  "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.",
  "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.",
  "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt."
 },
 "speedCash": {
  "fiscalYear": 2025,
  "cashConversion": 0.012,
  "growth3y": 0.0151,
  "volatility": 0.1963,
  "paysDividend": true,
  "raisedDividend": true,
  "equityRatio": 0.3572,
  "quadrant": {
   "code": "sj",
   "label": "Slow and jumpy",
   "plain": "growing slower than its size class, with revenue that swings more"
  },
  "compass": {
   "code": "fading",
   "inside": "Turns 1.2% of revenue into operating cash; revenue growing 1.5% a year over three years; pays and raised its dividend.",
   "outside": "Among $10B+ companies: 7th percentile for cash, 34th for growth.",
   "emoji": "🍂",
   "label": "Fading",
   "plain": "slow and jumpy, lagging its peers"
  },
  "band": "$10B+",
  "cashPctInClass": 7,
  "growthPctInClass": 34,
  "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class"
 },
 "harbor": {
  "signs": [
   {
    "key": "slowjumpy",
    "text": "slow and jumpy: growing slower than its size class, with revenue that swings more"
   }
  ],
  "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.",
  "level": 1,
  "name": "Sound ship",
  "plain": "one warning sign"
 },
 "cashFlow": {
  "fiscalYearEnd": "2025-12-31",
  "operating": 844000000,
  "investing": -5227000000,
  "financing": 2229000000,
  "capitalSpending": 1723000000,
  "free": -879000000,
  "trend": [
   {
    "fiscalYearEnd": "2021-12-31",
    "operating": -2894000000,
    "free": -3293000000
   },
   {
    "fiscalYearEnd": "2022-12-31",
    "operating": -5549000000,
    "free": -6104000000
   },
   {
    "fiscalYearEnd": "2023-12-31",
    "operating": 3308000000,
    "free": 2186000000
   },
   {
    "fiscalYearEnd": "2024-12-31",
    "operating": 1900000000,
    "free": 524000000
   },
   {
    "fiscalYearEnd": "2025-12-31",
    "operating": 844000000,
    "free": -879000000
   }
  ],
  "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)."
 },
 "investments": {
  "fiscalYearEnd": "2025-12-31",
  "cash": 1135000000,
  "shortTerm": 861000000,
  "longTerm": 136000000,
  "equityHoldings": null,
  "totalAssets": 44528000000,
  "ladder": null,
  "currentRatio": 1.61,
  "unrealizedGain": null,
  "unrealizedLoss": null,
  "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here."
 }
}