← Filings of APD

Tables in the 10-K of Air Products & Chemicals, Inc.

127 tables with numbers, filed Nov 20, 2025. Each one downloads as a CSV for Excel or Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed. Open the filing on sec.gov ↗

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.00 per share	APD	New York Stock Exchange
0.500% Euro Notes due 2028	APD28	New York Stock Exchange
2.950% Euro Notes due 2031	APD31	New York Stock Exchange
0.800% Euro Notes due 2032	APD32	New York Stock Exchange
3.250% Euro Notes due 2032	APD32B	New York Stock Exchange
4.000% Euro Notes due 2035	APD35	New York Stock Exchange
3.450% Euro Notes due 2037	APD37	New York Stock Exchange

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.	Yes	☒	No	☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.	Yes	☐	No	☒
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.	Yes	☒	No	☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).	Yes	☒	No	☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.			☒
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.			☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).			☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).	Yes	☐		No	☒

PART I
ITEM 1.	BUSINESS	5
ITEM 1A.	RISK FACTORS	12
ITEM 1B.	UNRESOLVED STAFF COMMENTS	21
ITEM 1C.	CYBERSECURITY	22
ITEM 2.	PROPERTIES	24
ITEM 3.	LEGAL PROCEEDINGS	25
ITEM 4.	MINE SAFETY DISCLOSURES	25

Name	Age	Office
Eduardo Menezes	62	Chief Executive Officer and Director (Principal Executive Officer) since February 2025. Prior to joining Air Products, Mr. Menezes served as Executive Vice President of Linde plc from 2018 to 2021, with responsibility for Europe, Middle East and Africa. Mr. Menezes previously served for over three decades in progressively senior roles at Praxair, Inc., prior to its acquisition by Linde in 2018. From 2012 through the time of the merger, Mr. Menezes served as an Executive Vice President of Praxair, with responsibility for its businesses in Asia, Europe, Mexico and South America, as well as for global hydrogen operations. Mr. Menezes also served from 2010 to 2011 as head of the North American Industrial Gases business and Praxair’s packaged gas business and from 2007 to 2010 as President of Praxair Europe. Mr. Menezes is a member of the Board of Directors and a member of the Executive Committee of the Board of Directors.
Melissa N. Schaeffer	46	Executive Vice President and Chief Financial Officer (became Senior Vice President and Chief Financial Officer in August 2021 and Executive Vice President in October 2024). Ms. Schaeffer joined the Company in 2016 and most recently served as Vice President, Finance – GEMTE, Americas, Middle East, and India from 2020 to 2021 and previously served as Vice President, Chief Audit Executive from 2016 to 2020. Before joining the Company, Ms. Schaeffer was global director, Internal Audit at Trinseo S.A. and worked for 10 years at Ernst & Young LLP. Ms. Schaeffer also serves on the board of directors of Trane Technologies plc.
Ivo Bols	64	President, Europe and Africa since 2017. Mr. Bols previously served as President, EMEA from 2014 to 2016, Vice President and General Manager, Merchant Gases–Europe from 2012 to 2014, General Manager, Global Liquid Bulk, Generated Gases and Helium from 2011 to 2012 and Vice President and General Manager, Merchant Gases-Asia from 2007 to 2011. Mr. Bols joined the Company in 1988.
Kurt Lefevere	55	President, Asia since June 2024. Mr. Lefevere previously served as Vice President, Northern Continent, Europe from 2015 to June 2024, Manager, Strategy Development and Performance Enhancement for the Company’s Global Merchant division from 2013 until 2014, and General Manager for the Packaged Gases division in Asia from 2011 until 2013. Mr. Lefevere joined the Company in 1994.
Matthew Lepore	55	Executive Vice President, General Counsel, Chief Compliance Officer and Secretary since August 2025. Mr. Lepore previously served as Group General Counsel, President for Legal, Compliance and Insurance, Chief Compliance Officer, Chief Human Rights Officer and Corporate Secretary at BASF SE (Ludwigshafen am Rhein, Germany) since 2021, Senior Vice President and Global Head of Legal at BASF SE from 2018 to 2021, Senior Vice President and General Counsel, Chief Compliance Officer and Corporate Secretary of BASF Corporation (New Jersey) from 2014 to 2018, and Corporate Secretary and Chief Governance Officer at Pfizer Inc. from 2008 to 2014.
Francesco Maione	56	President, Americas since December 2020 and Global Helium & Rare Gases since June 2025. Mr. Maione previously served as President, Atmospheric Gases, Americas during 2020, as Vice President and General Manager, South America from 2019 until early 2020, as Vice President, Northern Region Americas, from 2018 to 2019 and Vice President, Southern Region, Americas, from 2016 to 2018. Mr. Maione joined the Company in 1998.

	2025	2024
Fourth quarter	$1.79		$1.77
Third quarter	1.79		1.77
Second quarter	1.79		1.77
First quarter	1.77		1.75
Total	$7.14		$7.06

	Sept 2020	Sept 2021	Sept 2022	Sept 2023	Sept 2024	Sept 2025
Air Products & Chemicals, Inc.	100	120	112	140	150	141
S&P 500 Index	100	150	126	154	210	247
S&P 500 Materials Index	100	142	125	147	184	176

Business Overview	29
2025 in Summary	30
Outlook	32
Results of Operations	33
Reconciliations of Non-GAAP Financial Measures	42
Liquidity and Capital Resources	49
Pension Benefits	54
Critical Accounting Policies and Estimates	56

Fiscal Year Ended 30 September	2025	2024	Change vs. Prior Year
Earnings (Loss) per share	($1.77)		$17.18	($18.95)
Less: Loss per share from discontinued operations	(0.04)		(0.06)	0.02
Earnings (Loss) per share from continuing operations	($1.74)		$17.24	($18.98)
% Change from prior year			**
Operating Items
Underlying business:
Volume			($0.45)

Volume	(4%)
Price	1%
Energy cost pass-through to customers	2%
Currency	—%
Total Consolidated Sales Change	(1%)

Fiscal Year Ended 30 September	2025	2024	Change vs. Prior Year
Earnings (Loss) per Share	($1.74)		$17.24	($18.98)
Business and asset actions	13.68		0.20	13.48
Shareholder activism-related costs	0.32		—	0.32
Gain on sale of business	(0.23)		(5.38)	5.15
Gain on sale of other assets	(0.11)		—	(0.11)
(Gain) Loss on de-designation of cash flow hedges	(0.03)		0.02	(0.05)
Non-service pension cost, net	0.15		0.34	(0.19)

				Change vs. Prior Year
Fiscal Year Ended 30 September	2025	2024		$%/bp
GAAP Measures
Sales	$12,037.3		$12,100.6		($63.3)		(1%)
Operating income (loss)	(877.0)		4,466.1		(5,343.1)		**
Operating margin	(7.3%)		36.9%			**
Equity affiliates’ income	$647.7		$647.7		$—		—%
Net income (loss)	(354.4)		3,862.4		(4,216.8)		**

Fiscal Year Ended 30 September	2025	2024
Interest incurred	$615.8		$507.9
Less: Capitalized interest	401.8		289.1
Interest expense	$214.0		$218.8

				Change vs. Prior Year
Fiscal Year Ended 30 September	2025	2024		$%/bp
GAAP Measures
Sales	$5,125.9	$5,040.1		$85.8		2%
Operating income	1,519.6	1,565.1		(45.5)		(3%)
Operating margin	29.6%		31.1%				(150 bp)
Equity affiliates’ income	$157.0	$158.8		($1.8)	(1%)
Non-GAAP Measure

FY2025 vs. FY2024	OperatingIncome/Loss	Equity Affiliates' Income	Other Non- Operating Inc/Exp, Net	Income Tax Benefit/ Expense	Net Income/Loss Attributable to Air Products	Earnings/ Loss per Share
FY2025 GAAP	($877.0)		$647.7		$2.6		($94.3)	($386.5)	($1.74)
FY2024 GAAP	4,466.1		647.7		(73.8)		944.9	3,842.1	17.24
$ GAAP Change	($5,343.1)						($18.98)
% GAAP Change	**					**
FY2025 GAAP Measures	($877.0)		$647.7		$2.6		($94.3)	($386.5)	($1.74)
Business and asset actions(A)	3,747.0		6.8		—		695.2	3,047.9	13.68
Shareholder activism-related costs	86.3		—		—		14.6	71.7	0.32

FY2025 vs. FY2024	Operating Income/Loss	Operating Margin
FY2025 GAAP	($877.0)		(7.3%)
FY2024 GAAP	4,466.1		36.9%
$ GAAP Change	($5,343.1)
%/bp GAAP Change	**	**
FY2025 GAAP Measures	($877.0)		(7.3%)
Business and asset actions	3,747.0		31.1%
Shareholder activism-related costs	86.3		0.7%

	2025	2024
Service cost	$20.7		$20.9
Non-service related costs	45.0		102.0
Other	0.3		0.9
Net Periodic Cost	$66.0		$123.8

	2025	2024
Weighted average discount rate – Service cost	4.9%		5.6%
Weighted average discount rate – Interest cost	4.6%		5.7%
Weighted average expected rate of return on plan assets	5.4%		5.3%
Weighted average expected rate of compensation increase	3.5%		3.5%

	2025	2024
Projected benefit obligation	$3,795.3		$3,951.8
Fair value of plan assets at end of year	3,727.6		3,907.5
Plan Funded Status	($67.7)		($44.3)

Management's Report on Internal Control Over Financial Reporting	66
Report of Deloitte & Touche LLP, Independent Registered Public Accounting Firm (PCAOB ID No. 34)	67
Consolidated Income Statements – Fiscal Years Ended 30 September 2025, 2024, and 2023	69
Consolidated Comprehensive Income Statements – Fiscal Years Ended 30 September 2025, 2024, and 2023	70
Consolidated Balance Sheets – 30 September 2025 and 2024	71
Consolidated Statements of Cash Flows – Fiscal Years Ended 30 September 2025, 2024, and 2023	72
Consolidated Statements of Equity – Fiscal Years Ended 30 September 2025, 2024, and 2023	73
Notes to Consolidated Financial Statements	74

(Millions of U.S. Dollars, except for share and per share data)	2025	2024	2023
Sales	$12,037.3		$12,100.6	$12,600.0
Cost of sales	8,256.0		8,168.7	8,833.0
Selling and administrative expense	906.1		942.4	957.0
Research and development expense	96.3		100.2	105.6
Business and asset actions	3,747.0		57.0	244.6
Shareholder activism-related costs	86.3		—	—
Gain on sale of business	67.3		1,575.6	—

(Millions of U.S. Dollars)	2025	2024		2023
Net Income (Loss)	($354.4)		$3,862.4		$2,338.6
Other Comprehensive Income, net of tax:
Translation adjustments, net of tax of ($61.4), ($33.0), and ($32.8)	(95.6)		381.5		151.1
Net gain (loss) on derivatives, net of tax of ($1.8), $10.7, and $48.6	40.0		(159.5)		369.2
Pension and postretirement benefits, net of tax of ($10.2), $9.6, and ($2.9)	(32.3)		32.0		(8.9)
Reclassification adjustments:
Currency translation adjustment	5.7		(1.5)		(0.3)

(Millions of U.S. Dollars, except for per share data)	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Air Products Shareholders’ Equity	Non- controlling Interests	Total Equity
Balance as of 30 September 2022	$249.4		$1,141.4		$16,520.3		($2,786.1)		($1,981.0)	$13,144.0	$558.4	$13,702.4
Net income	—		—		2,300.2		—		—	2,300.2	38.4	2,338.6
Other comprehensive income	—		—		—		336.7		—	336.7	184.3	521.0
Dividends on common stock ($6.87 per share)	—		—		(1,526.2)		—		—	(1,526.2)	—	(1,526.2)
Distributions to noncontrolling interests	—		—		—		—		—	—	(115.9)	(115.9)
Share-based compensation	—		54.6		—		—		—	54.6	—	54.6
Issuance of treasury shares for stock option and award plans	—		(6.1)		—		—		13.7	7.6	—	7.6

1.	Basis of Presentation and Major Accounting Policies	75
2.	New Accounting Guidance	86
3.	Variable Interest Entities	87
4.	Gain on Sale of Business	91
5.	Business and Asset Actions	92
6.	Acquisitions and Divestitures	94
7.	Revenue Recognition	96
8.	Discontinued Operations	100

Tables in the 10-K of Air Products & Chemicals, Inc.

Table 1 after “Securities registered pursuant to Section 12(b) of the Act:”

Table 2 after “Securities registered pursuant to Section 12(g) of the Act: None”

Table 3 after “Securities registered pursuant to Section 12(g) of the Act: None”

Table 4 after “TABLE OF CONTENTS”

Table 5 after “The table below identifies each executive officer by name, age, and offices held as of 20 November 2025. Information with respect to offices”

Table 6 after “The Board of Directors determines whether to declare cash dividends on our common stock and the timing and amount based on financial conditi”

Table 7 after “The performance graph below compares the five-year cumulative returns of our common stock with those of the Standard & Poor’s 500 Index ("S&”

Table 8 after “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations”

Table 9 after “The per share impacts for the items presented in the table below were calculated independently and may not sum to the total change in dilute”

Table 10 after “The table below summarizes the diluted per share impact of our non-GAAP adjustments in fiscal years 2025 and 2024. These impacts were calcul”

Table 11 after “DISCUSSION OF CONSOLIDATED RESULTS”

Table 12 after “The table below summarizes the major factors that impacted consolidated sales for the periods presented:”

Table 13 after “Interest Expense”

Table 14 after “Americas”

Table 15 after “The table below summarizes the major factors that impacted sales in the Americas segment for the periods presented:”

Table 16 after “Asia”

Table 17 after “Europe”

Table 18 after “The table below summarizes the major factors that impacted sales in the Europe segment for the periods presented:”

Table 19 after “Middle East and India”

Table 20 after “Corporate and other”

Table 21 after “Per share amounts are calculated and presented on a diluted basis from continuing operations attributable to Air Products. These amounts are”

Table 22 after “The table below reconciles GAAP operating margin to adjusted operating margin, illustrating the impact of non-GAAP adjustments on our report”

Table 23 after “The tables below present a reconciliation of consolidated net income on a GAAP basis to consolidated adjusted EBITDA:”

Table 24 after “Americas”

Table 25 after “Asia”

Table 26 after “Europe”

Table 27 after “Middle East and India”

Table 28 after “Corporate and other”

Table 29 after “The effective tax rate equals the income tax expense (benefit) divided by income or loss from continuing operations before taxes. We calcula”

Table 30 after “A reconciliation of cash used for investing activities to our reported capital expenditures is provided below:”

Table 31 after “Cash Flows From Operations”

Table 32 after “Cash Flows From Investing Activities”

Table 33 after “for a definition of this non-GAAP financial measure as well as a reconciliation to cash used for investing activities.”

Table 34 after “Cash Flows From Financing Activities”

Table 35 after “The table below summarizes the components of net periodic cost for our U.S. and international defined benefit pension plans for the fiscal y”

Table 36 after “The table below summarizes the assumptions used in the calculation of net periodic cost for the fiscal years ended 30 September:”

Table 37 after “The table below summarizes the projected benefit obligation, the fair value of plan assets, and the funded status for our U.S. and internati”

Table 38 after “INDEX TO CONSOLIDATED FINANCIAL STATEMENTS”

Table 39 after “For the Fiscal Years Ended 30 September”

Table 40 after “For the Fiscal Years Ended 30 September”

Table 41 after “As of the Fiscal Years Ended 30 September”

Table 42 after “For the Fiscal Years Ended 30 September”

Table 43 after “For the Fiscal Years Ended 30 September”

Table 44 after “(Millions of U.S. Dollars unless otherwise indicated, except for share and per share data)”

Table 45 after “Changes to the carrying amount of the allowance for credit losses on trade receivables are summarized below:”

Table 46 after “A summary of NGHC's long-term borrowings is provided in the table below:”

Table 47 after “In May 2023, NGHC entered into floating-to-fixed interest rate swaps designed to hedge the long-term variable rate debt facilities available”

Table 48 after “table below summarizes balances associated with NGHC as reflected on our consolidated balance sheets:”

Table 49 after “The table below summarizes charges related to business and asset actions as reflected on our consolidated income statements. These charges a”

Table 50 after “The table below reconciles project exit charges recognized in operating results for fiscal year 2025 to the related accrual reflected in “Pa”

Table 51 after “The table below reconciles costs related to our global cost reduction plan to payables and accrued liability balances as reflected on our co”

Table 52 after “The tables below present our consolidated sales disaggregated by supply mode for each of our reportable segments. We believe this presentati”

Table 53 after “The table below details balances arising from contracts with customers:”

Table 54 after “The components of inventories are as follows:”

Table 55 after “As of 30 September 2025, all of our equity method investments are foreign affiliates. These affiliates and related ownership percentages wer”

Table 56 after “The summarized financial information presented below is on a combined 100% basis and has been compiled based on the financial statements of ”

Table 57 after “The major classes of plant and equipment are as follows:”

Table 58 after “Changes to the carrying amount of consolidated goodwill by segment are as follows:”

Table 59 after “Changes to the carrying amount of consolidated goodwill by segment are as follows:”

Table 60 after “The table below summarizes the major classes of our intangible assets:”

Table 61 after “The table below details the amount of amortization expense expected to be recorded for our finite-lived intangible assets in each of the nex”

Table 62 after “Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:”

Table 63 after “Amounts associated with operating leases and their presentation on our consolidated balance sheets are as follows:”

Table 64 after “The following maturity analysis of our operating lease liabilities as of 30 September 2025 presents the undiscounted cash flows for each of ”

Table 65 after “The table below details balances associated with our lease receivables:”

Table 66 after “The table below summarizes lease payments collected in fiscal years 2025, 2024, and 2023:”

Table 67 after “As of 30 September 2025, minimum lease payments expected to be collected were as follows:”

Table 68 after “The table below summarizes our outstanding currency price risk management instruments:”

Table 69 after “outstanding interest rate management contracts and cross currency interest rate swaps:”

Table 70 after “The table below provides the amounts recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedg”

Table 71 after “The tables below summarize the fair value and balance sheet location of our outstanding derivatives.”

Table 72 after “The tables below summarize gains (losses) recognized in other comprehensive income during the period related to our net investment and cash ”

Table 73 after “The tables below summarize the location and amounts recognized in income related to our cash flow and fair value hedging relationships by co”

Table 74 after “The table below summarizes the location and amounts recognized in income related to our derivatives not designated as hedging instruments by”

Table 75 after “The carrying values and fair values of financial instruments were as follows:”

Table 76 after “The table below summarizes assets and liabilities on the consolidated balance sheets that are measured at fair value on a recurring basis:”

Table 77 after “The table below presents the nonrecurring fair value measurements of these long-lived assets, categorized within the fair value hierarchy:”

Table 78 after “The table below summarizes our total outstanding debt as reflected on our consolidated balance sheets:”

Table 79 after “The table below summarizes the coupon interest rates, fiscal year maturities, and carrying amounts of our long-term debt, including current ”

Balance at 30 September 2022	$24.1
Provision for credit losses	8.2
Write-offs charged against the allowance	(7.9)
Currency translation and other	(1.5)
Balance at 30 September 2023	$22.9
Provision for credit losses	10.7
Write-offs charged against the allowance	(8.5)
Currency translation and other	1.2

30 September	Fiscal Year Maturities	2025	2024
Payable in U.S. Dollars
U.S. Dollar variable-rate facilities 5.49%(A)	2027 to 2053	$2,911.0		$1,945.2
U.S. Dollar variable-rate facility 5.14%(A)	2027 to 2041	630.6		345.5
U.S. Dollar stated-rate facility 5.00%	2027 to 2053	368.0		245.9
Total Payable in U.S. Dollars		$3,909.6		$2,536.6
Payable in Other Currencies
Saudi Riyal stated-rate facility 2.00%	2028 to 2041	1,000.1		735.2

Project exit costs	$3,623.3
Noncash expenses(A)	(3,282.7)
Cash payments(B)	(174.4)
Currency translation adjustment	12.1
Amount accrued as of 30 September 2025	$178.3

2023 Charge	$27.0
Cash payments	(6.8)
Currency translation adjustment	(0.4)
Amount accrued as of 30 September 2023	$19.8
2024 Charge	$57.0
Cash payments	(43.6)
Currency translation adjustment	0.8
Amount accrued as of 30 September 2024	$34.0

	Americas	Asia	Europe	Middle East and India	Corporate and other	Total	%
2025
On-site	$2,918.2		$2,190.9		$992.7		$78.6	$—	$6,180.4	52%
Merchant	2,207.7		1,080.1		1,991.8		57.3	—	5,336.9	44%
Sale of equipment	—		—		—		—	520.0	520.0	4%
Total	$5,125.9		$3,271.0		$2,984.5		$135.9	$520.0	$12,037.3	100%
2024
On-site	$2,844.4		$2,066.4		$910.5		$71.4	$—	$5,892.7	49%

30 September	Balance Sheet Location	2025	2024
Assets
Contract assets – current	Other receivables and current assets	$152.6		$76.2
Contract fulfillment costs – current	Other receivables and current assets	85.4		103.7
Contract assets – noncurrent	Other noncurrent assets	82.3		—
Contract fulfillment costs – noncurrent	Other noncurrent assets	33.8		—
Liabilities
Contract liabilities – current	Payables and accrued liabilities	$253.4		$240.0

Abdullah Hashim Industrial Gases & Equipment Co., Ltd. (25%);	INFRA Group (40%);
Air Products South Africa (Proprietary) Limited (50%);	INOX Air Products Private Limited (50%);
Bangkok Cogeneration Company Limited (49%);	Jazan Integrated Gasification and Power Company (51%);
Bangkok Industrial Gases Co., Ltd. (49%);	Kulim Industrial Gases Sdn. Bhd. (50%);
Blue Hydrogen Industrial Gases Company (26%)(A);	Sapio Produzione Idrogeno Ossigeno S.r.l. (49%);
Chengdu Air & Gas Products Ltd. (50%);	and principally, other industrial gas producers.
Helios S.p.A. (49%);

30 September	Useful life	2025	2024
Land		$343.0		$312.1
Buildings	30 years	1,766.1		1,730.7
Production facilities(A)	10-20 years	21,412.9		21,245.2
Distribution and other machinery and equipment(B)	5-25 years	5,776.0		5,472.7
Construction in progress		13,456.8		11,190.2
Plant and equipment, at cost		$42,754.8		$39,950.9
Less: Accumulated depreciation		17,417.0		16,580.0

2026	$31.5
2027	30.7
2028	27.1
2029	24.1
2030	23.5
Thereafter	121.5
Total	$258.4

	Operating Leases
2026	$109.0
2027	72.6
2028	62.0
2029	49.9
2030	48.5
Thereafter	647.9
Total undiscounted lease payments	989.9