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Income Statement · Annual · Millions · USD

Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	2,522	2,746	2,757	2,767	2,895	3,502	4,345	4,175	4,075	4,104
Cost of revenue	1,865	2,064	2,089	2,084	2,130	2,618	3,219	2,939	2,834	2,864
Gross profit	656	682	668	683	766	884	1,126	1,236	1,241	1,240
Realized investment gains (losses)	(1)	4	(1)	6	2	2	(3)	4	–	–
Research and development	8	12	12	14	21	37	46	55	59	33
Selling, general and administrative	411	415	440	455	523	591	693	768	717	718
Operating income	245	267	212	228	226	287	433	292	525	416
Interest expense	44	45	44	40	41	43	48	57	59	41
Interest and investment income	3	5	5	4	2	1	2	6	7	8
Other non-operating income (expense)	(25)	(39)	(59)	(28)	(33)	(27)	(69)	(55)	(56)	(38)
Income before taxes	220	228	153	200	193	260	364	236	469	378
Income tax expense	42	106	46	48	50	61	109	90	118	24
Net income from continuing operations	178	122	108	152	143	199	255	146	351	354
Net income	178	122	108	152	142	196	251	151	348	350
Net income to common shareholders	173	116	102	146	141	196	251	143	348	335