Commentary on Financial Condition

“Operating cash flows for the six months ended June 30, 2026 increased compared to the prior year primarily due to increased results from operations driven by higher net revenues and lower payments related to litigation matters partially offset by timing of working capital and higher payments of contingent consideration liabilities. Investing cash flows for the six months ended June 30, 2026 included payments made for other acquisitions and investments, net of cash acquired of $1.1 billion and capital expenditures of $587 million. Investing cash flows for the six months ended June 30, 2025 included payments made for other acquisitions and investments, net of cash acquired of $1.3 billion and capital expenditures of $504 million.” (from August 2026 filing’s Liquidity and Capital Resources) Filed At: 2026-08-03