Complete Filing Data
AerCap Holdings N.V. reported Stockholders Equity Including Portion Attributable To Noncontrolling Interest of $18.32 billion for FY2025.
All values from 10-K, 20-F, and 10-Q filings on SEC EDGAR, organized by financial statement. Scroll each table horizontally for the full history. Blank cells mean AerCap Holdings N.V. did not report that metric for that period in XBRL — often because accounting standards changed which tag a company files under (for example, most companies moved revenue to the ASC-606 tag in 2018), so a metric may continue in a different row. Rows marked * merge those successor tags into one continuous series, preferring the audited value from the newest-standard tag where periods overlap.
Income Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income * | $3.75B | $2.10B | $3.14B | -$726.0M | $1.00B | -$298.6M | $1.15B | $1.02B | $1.08B | $1.05B | $1.18B | $810.4M | $292.4M | $163.7M | $172.2M | $208.0M | $165.2M | $151.8M | $188.5M |
| Selling General And Administrative Expense | $545.9M | $488.9M | $464.1M | $399.5M | $317.9M | $242.2M | $267.5M | $305.2M | $348.3M | $351.0M | $381.3M | $299.9M | $89.1M | $83.4M | $120.7M | $81.0M | $76.6M | $85.6M | $79.6M |
| Revenues | $8.52B | $8.00B | $7.58B | $7.01B | $5.22B | $4.49B | $4.94B | $4.80B | $5.04B | $5.15B | $5.29B | $3.59B | $1.05B | $972.5M | $1.09B | $959.0M | $647.5M | $652.4M | $661.8M |
| Operating Expenses | $4.44B | $5.74B | $4.31B | $8.00B | $4.08B | $4.66B | $3.60B | $3.65B | $3.80B | $3.95B | $3.92B | $2.67B | $739.3M | $817.6M | $863.9M | $701.0M | $443.9M | $513.8M | $470.6M |
| Net Income Loss Attributable To Noncontrolling Interest | $2.0K | -$7.0K | $11.8M | $4.9M | $8.9M | $3.6M | $21.1M | $1.9M | $4.2M | -$7.1M | -$1.6M | -$1.9M | $3.0M | -$5.2M | $526.0K | $29.0M | $41.2M | -$10.9M | -$1.2M |
| Income Tax Expense Benefit | $555.2M | $323.7M | $291.1M | -$164.1M | $162.5M | -$17.2M | $167.7M | $144.1M | $164.7M | $173.5M | $189.8M | $137.4M | $26.0M | $8.1M | $15.5M | $22.0M | $953.0K | -$833.0K | $17.1M |
| Asset Impairment Charges | $100.8M | $49.8M | $86.9M | $96.6M | $128.4M | $1.09B | $70.1M | $44.2M | $61.3M | $81.6M | $16.3M | $21.8M | $26.2M | $12.6M | $15.6M | $11.0M | $18.8M | $5.3M | |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | $4.09B | $2.26B | $3.27B | -$1.00B | $1.15B | -$314.6M | $1.34B | $1.15B | $1.24B | $1.20B | $1.37B | $916.9M | $310.8M | $154.9M | $230.1M | $258.0M | $203.6M | $138.6M | $191.2M |
| Comprehensive Income Net Of Tax | $3.66B | $2.13B | $3.04B | -$538.5M | $1.08B | -$360.1M | $1.05B | $999.5M | $1.09B | $1.05B | $1.18B | $813.4M | $296.9M | $157.8M | $158.7M | $213.0M | |||
| Income Loss From Equity Method Investments | $213.8M | $159.0M | $166.7M | $117.2M | $24.1M | $2.5M | -$6.2M | $10.6M | $9.2M | $12.6M | $1.3M | $29.0M | $10.6M | $11.6M | $10.9M | $4.0M | $983.0K | ||
| Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest | $3.66B | $2.13B | $3.05B | -$533.6M | $1.09B | -$356.4M | $1.08B | $1.00B | $1.10B | $1.04B | $1.18B | $811.5M | $299.9M | $152.6M | $159.2M | $241.8M | |||
| Other Comprehensive Income Loss Net Of Tax | -$92.9M | $34.4M | -$99.9M | $187.6M | $75.8M | -$61.5M | -$91.8M | -$16.1M | $16.0M | $4.5M | $588.0K | $3.0M | $4.5M | -$5.9M | -$13.5M | $5.0M | |||
| Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest | $2.0K | -$7.0K | $11.8M | $4.9M | $8.9M | $3.6M | $21.1M | $1.9M | $4.2M | -$7.1M | -$1.6M | ||||||||
| Interest Expense | $1.81B | $1.59B | $1.23B | $1.25B | $1.30B | $1.17B | $1.11B | $1.09B | $1.10B | $780.3M | $226.3M | $286.0M | |||||||
| Income Taxes Paid Net | $26.1M | $34.0M | $23.2M | -$567.0K | $4.9M | -$3.9M | $2.4M | $679.0K | $19.0M | $61.8M | $20.2M | $37.6M | $5.0M | ||||||
| Deferred Income Taxes And Tax Credits | $501.5M | $250.5M | $280.1M | -$9.6M | -$5.9M | -$20.9M | $162.5M | $147.6M | $157.0M | $161.3M | $110.4M | ||||||||
| Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax | -$812.0K | -$332.0K | $48.0K | -$4.1M | -$1.3M | $348.0K | $265.0K | -$215.0K | $257.0K | -$200.0K | $4.0K | ||||||||
| Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax | $5.7M | $2.3M | -$339.0K | $28.8M | $9.3M | -$2.7M | -$1.8M | -$1.5M | $1.1M | -$1.5M | $250.0K | ||||||||
| Income Loss From Continuing Operations Per Diluted Share | $2.54 | $1.24 | $1.53 | ||||||||||||||||
| Income Loss From Continuing Operations Per Basic Share | $2.58 | $1.24 | $1.53 |
Balance Sheet
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stockholders Equity * | $18.32B | $17.18B | $16.59B | $16.12B | $16.57B | $8.86B | $9.31B | $8.83B | $8.58B | $8.52B | $8.35B | $7.86B | $2.43B | $2.12B | $2.28B | $2.21B | $1.41B | $1.13B | |
| Gain Loss On Sale Of Property Plant Equipment | $819.5M | $651.1M | $489.6M | $228.9M | $89.4M | $89.6M | $188.8M | $201.3M | $229.1M | $138.5M | $183.3M | $37.5M | $41.9M | -$46.4M | $9.3M | $36.0M | $40.2M | $77.1M | $103.5M |
| Accrued Maintenance Liability | $3.53B | $3.33B | $2.86B | $2.50B | $2.90B | $1.75B | $2.19B | $2.24B | $2.46B | $2.75B | $3.19B | $3.19B | $466.3M | $421.8M | $452.6M | $420.8M | |||
| Cash And Cash Equivalents At Carrying Value | $1.38B | $1.21B | $1.63B | $1.60B | $1.73B | $1.25B | $1.12B | $1.20B | $1.66B | $2.04B | $2.40B | $1.49B | $295.5M | $520.4M | $411.1M | $404.5M | $183.0M | $193.6M | |
| Repayments Of Long Term Debt | $7.08B | $8.80B | $6.57B | $4.23B | $5.97B | $11.56B | $6.50B | $4.36B | $4.70B | $5.21B | $4.04B | $4.83B | $1.89B | $1.21B | $1.65B | $1.50B | $1.41B | ||
| Treasury Stock Value Acquired Cost Method | $2.43B | $1.47B | $2.62B | $1.5M | $35.4M | $117.3M | $607.3M | $726.6M | $1.12B | $966.0M | $761.2M | $320.0M | $320.1M | $100.0M | |||||
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | $1.48B | $1.40B | $1.83B | $1.76B | $1.91B | $1.50B | $1.30B | $1.42B | $2.02B | $2.36B | $2.82B | ||||||||
| Other Operating Activities Cash Flow Statement | -$225.8M | $165.4M | -$7.4M | -$161.9M | $44.2M | $252.4M | $96.1M | $60.5M | $156.9M | $121.7M | $90.1M | $102.1M | -$1.9M | $9.2M | |||||
| Minority Interest Decrease From Distributions To Noncontrolling Interest Holders | $12.0M | $4.0M | $323.0K | $2.9M | $6.3M | $8.4M | $2.9M | $11.9M | $367.0K | $187.0K | |||||||||
| Accumulated Other Comprehensive Income Loss Net Of Tax | -$50.2M | $42.7M | $8.3M | $108.2M | -$79.3M | -$155.1M | -$93.6M | -$1.8M | $14.3M | -$1.8M | -$6.3M | -$6.9M | -$9.9M | -$14.4M | -$8.5M | $5.0M | |||
| Minority Interest | $211.0K | $209.0K | $216.0K | $77.5M | $76.6M | $68.0M | $67.3M | $52.6M | $59.1M | $57.8M | $76.8M | $78.8M | $3.9M | $868.0K | $6.0M | $6.0M | |||
| Liabilities And Stockholders Equity | $71.67B | $71.44B | $71.27B | $69.73B | $74.57B | $42.05B | $43.75B | $43.21B | $42.04B | $41.62B | $43.75B | $43.87B | $9.45B | $8.63B | $9.12B | $9.60B | |||
| Liabilities | $53.35B | $54.26B | $54.69B | $53.53B | $57.92B | $33.12B | $34.37B | $34.33B | $33.40B | $33.04B | $35.32B | $35.92B | $7.02B | $6.51B | $6.83B | $7.38B | |||
| Assets | $71.67B | $71.44B | $71.27B | $69.73B | $74.57B | $42.05B | $43.75B | $43.21B | $42.04B | $41.62B | $43.75B | $43.87B | $9.45B | $8.63B | $9.12B | $9.60B | |||
| Retained Earnings Accumulated Deficit | $16.32B | $12.76B | $10.80B | $7.67B | $8.41B | $7.40B | $7.73B | $6.59B | $5.58B | $4.51B | $3.47B | $2.31B | $1.50B | $1.21B | $1.04B | $871.8M | |||
| Maintenance Liability Release To Income | $227.4M | $163.4M | $203.4M | $203.5M | $273.1M | $344.2M | $207.8M | $228.1M | $302.4M | $421.3M | $243.8M | $92.3M | $13.5M | ||||||
| Common Stock Value | $2.3M | $2.6M | $2.7M | $3.0M | $3.0M | $1.7M | $1.8M | $1.9M | $2.1M | $2.3M | $2.5M | $2.6M | $1.2M | $1.2M | $1.6M | $1.6M | |||
| Restricted Cash And Cash Equivalents | $100.6M | $192.4M | $198.3M | $159.6M | $186.0M | $246.5M | $179.0M | $211.0M | $364.5M | $329.2M | $419.4M | $717.4M | $272.8M | ||||||
| Maintenance Rights Intangible Maintenance Reserved Contract Rights Expense Offset By Maintenance Liability Release | $19.5M | $38.5M | $17.7M | $260.2M | $17.3M | $35.9M | $19.8M | $29.7M | $77.5M | $174.0M | $161.8M | $48.7M | |||||||
| Maintenance Rights Intangible End Of Lease Contract Maintenance Rights Expense | $71.1M | $144.7M | $207.6M | $232.6M | $7.0M | $45.7M | $76.6M | $157.8M | $355.8M | $381.6M | $348.4M | $54.5M | |||||||
| Maintenance Rights Intangible End Of Lease Contract Cash Receipt | $67.4M | $159.7M | $102.9M | $191.5M | $114.5M | $51.5M | $148.3M | $99.7M | $106.4M | $96.5M | $118.4M | $27.6M | |||||||
| Property Subject To Or Available For Operating Lease Net | $57.09B | $55.22B | $57.83B | $35.16B | $35.87B | $35.05B | $32.40B | $31.50B | $32.22B | $31.98B | $8.09B | $7.26B | $7.90B | $8.06B | $5.23B | ||||
| Operating Lease Lease Income | $7.37B | $7.00B | $6.86B | $6.53B | $4.41B | $4.32B | $4.68B | ||||||||||||
| Security Deposit Liability | $1.19B | $1.09B | $1.02B | $806.7M | $773.8M | $600.3M | $747.8M | $768.7M | $827.5M | $859.1M | $891.5M | $848.3M | $92.7M |
Cash Flow Statement
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share-Based Compensation * | $166.2M | $111.1M | $97.1M | $102.8M | $96.1M | $69.2M | $69.4M | $95.2M | $9.3M | $7.1M | $6.2M | $3.0M | $3.9M | ||||
| Financing Cash Flow * | -$3.65B | -$2.13B | -$2.01B | -$3.16B | $20.18B | -$1.23B | -$265.0M | $600.4M | -$87.6M | -$2.42B | -$728.3M | $734.1M | $417.4M | -$193.9M | -$73.4M | $943.0M | $1.15B |
| Investing Cash Flow * | -$1.66B | -$3.72B | -$3.18B | -$2.16B | -$23.46B | -$712.3M | -$2.95B | -$4.05B | -$3.39B | -$1.42B | -$1.72B | -$1.85B | -$1.34B | -$351.6M | -$564.3M | -$1.40B | -$1.59B |
| Operating Cash Flow * | $5.39B | $5.44B | $5.26B | $5.17B | $3.69B | $2.13B | $3.11B | $2.84B | $3.14B | $3.38B | $3.36B | $2.31B | $694.9M | $656.7M | $638.2M | $675.0M | $425.9M |
| Increase Decrease In Other Operating Assets | -$340.2M | -$241.1M | $128.5M | -$113.4M | -$112.8M | $400.3M | $73.6M | -$9.8M | -$55.3M | -$257.2M | -$88.4M | -$12.7M | $32.8M | -$17.0K | $41.1M | $8.3M | $7.2M |
| Proceeds From Sale Of Property Plant And Equipment | $2.87B | $2.67B | $2.12B | $1.64B | $796.6M | $471.4M | $1.77B | $1.82B | $1.78B | $2.37B | $1.57B | $569.6M | $664.4M | $781.3M | $140.8M | $665.0M | $153.5M |
| Proceeds From Issuance Of Long Term Debt | $5.35B | $7.64B | $6.55B | $468.0M | $26.50B | $10.95B | $6.54B | $5.59B | $5.60B | $3.64B | $3.91B | $5.41B | $2.30B | $1.30B | $1.67B | $2.33B | $2.43B |
| Increase Decrease In Accounts And Notes Receivable | -$19.5M | -$5.9M | -$56.4M | -$39.2M | -$232.1M | $128.2M | $8.8M | -$19.8M | $10.6M | -$40.1M | -$48.5M | -$102.5M | -$2.9M | -$912.0K | $16.4M | $371.0K | $6.7M |
| Stock Issued During Period Value Share Based Compensation | -$29.0M | -$20.4M | -$16.1M | -$13.6M | -$16.5M | -$29.1M | -$121.0M | -$19.9M | -$12.5M | -$33.1M | -$830.0K | ||||||
| Share Based Compensation Arrangement By Share Based Payment Award Restricted Stock Unvested | $4.1M | $5.1M | $4.6M | $4.8M | $5.8M | $2.6M | $2.4M | $2.4M | $3.0M | $3.4M | $3.0M | $232.1K | |||||
| Payments Of Debt Issuance Costs | $422.3M | $253.8M | $36.6M | $57.8M | $81.4M | $34.7M | $49.4M | $135.0M | $45.2M | $43.2M | $37.3M | $60.0M | $32.7M | ||||
| Payments For Flight Equipment | $3.65B | $5.06B | $4.66B | $3.48B | $1.70B | $778.5M | $3.36B | $4.04B | $3.96B | $2.89B | $2.77B | $2.09B | $1.78B | ||||
| Increase Decrease In Accounts Payable And Accrued Liabilities | -$16.0M | $1.5M | $220.8M | -$542.0M | $130.3M | -$126.2M | $31.0K | -$24.9M | $20.0M | -$32.2M | $33.5M | $21.8M | $43.8M | ||||
| Payments For Repurchase Of Equity And Payments Related To Tax Withholding For Share Based Compensation | $2.54B | $1.52B | $2.64B | $17.4M | $76.2M | $127.8M | $639.9M | $834.4M | $1.14B | $1.02B | $793.9M | ||||||
| Payments For Proceeds From Other Investing Activities | $55.4M | $27.3M | $26.2M | -$22.6M | $4.6M | $0.00 | $17.0K | $21.5M | $38.1M | $21.7M | $73.4M |
Per-Share & Share Counts
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS * | $21.30 | $10.79 | $13.78 | -$3.02 | $6.71 | -$2.34 | $8.43 | $6.83 | $6.43 | $5.52 | $5.72 | $4.54 | $2.54 | $1.24 | $1.17 | $1.81 | $1.94 | $1.79 | $2.22 | |
| Weighted Average Number Of Shares Outstanding Basic | 172.2M | 189.8M | 224.2M | 240.5M | 146.4M | 127.7M | 134.6M | 145.2M | 161.1M | 185.5M | 203.9M | 175.9M | 113.5M | 131.5M | 146.6M | 115.0M | 85.0M | 85.0M | 85.0M | |
| Earnings Per Share Basic | $21.78 | $11.06 | $13.99 | $-3.02 | $6.83 | $-2.34 | $8.51 | $7.00 | $6.68 | $5.64 | $5.78 | $4.61 | $2.58 | $1.24 | $1.17 | |||||
| Weighted Average Number Of Diluted Shares Outstanding | 176.1M | 194.5M | 227.7M | 240.5M | 149.0M | 127.7M | 135.9M | 148.7M | 167.3M | 189.7M | 206.2M | 178.7M | 115.0M | 132.5M | 146.6M | |||||
| Common Stock Shares Issued | 179.0M | 204.5M | 215.5M | 250.3M | 250.3M | 138.8M | 141.8M | 151.8M | 167.8M | 187.8M | 203.4M | 212.3M | 113.8M | 113.4M | 113.4M | 149.2M | 26.1M | |||
| Common Stock Shares Outstanding | 166.9M | 186.8M | 202.5M | 245.9M | 245.4M | 130.4M | 131.6M | 142.7M | 153.0M | 176.2M | 200.3M | 212.3M | 113.8M | 113.4M | 113.4M | 45.0K | ||||
| Common Stock Par Or Stated Value Per Share | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $1.00 | ||||
| Common Stock Shares Authorized | 450.0M | 450.0M | 450.0M | 450.0M | 450.0M | 350.0M | 350.0M | 350.0M | 350.0M | 350.0M | 350.0M | 350.0M | 250.0M | 250.0M | 250.0M |
Other Metrics
Annual (10-K / 20-F)
| Metric \ Fiscal Year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value | $166.2M | $111.1M | $97.1M | $102.8M | $96.1M | $69.2M | $69.4M | $95.2M | $107.7M | $102.8M | $100.2M | $68.2M | $6.4M | $7.1M | $7.2M | $2.8M | $3.9M |
| Other Income | $327.7M | $341.5M | $230.5M | $254.1M | $722.6M | $83.0M | $66.2M | $61.6M | $94.6M | $146.0M | $112.7M | $104.5M | $32.0M | $21.8M | |||
| Depreciation And Amortization | $2.65B | $2.58B | $2.48B | $2.39B | $1.74B | $1.65B | $1.68B | $1.68B | $1.73B | $1.79B | $1.84B | $1.28B | $337.7M | $357.3M | |||
| Security Deposits Returned | $304.9M | $224.8M | $256.0M | $245.1M | $290.8M | $297.5M | $233.2M | $220.5M | $188.4M | $270.6M | $144.4M | $98.7M | $15.0M | $21.9M | $37.2M | $40.0M | $12.8M |
| Security Deposits Received | $447.4M | $344.8M | $481.0M | $332.8M | $210.8M | $137.1M | $232.2M | $208.3M | $187.4M | $202.0M | $171.4M | $107.3M | $23.4M | $25.6M | $20.1M | $30.0M | $42.2M |
| Prepayments Made On Flight Equipment | $2.42B | $1.55B | $1.57B | $391.5M | $86.4M | $405.2M | $1.37B | $1.91B | $1.27B | $947.4M | $791.5M | $458.2M | $213.3M | $36.1M | $47.8M | $141.0M | $453.3M |
| Maintenance Payments Returned | $248.6M | $248.0M | $201.5M | $245.3M | $209.1M | $412.5M | $352.0M | $459.3M | $523.4M | $505.4M | $558.5M | $286.0M | $56.9M | $49.7M | $54.8M | $42.0M | $46.9M |
| Maintenance Payments Received | $969.9M | $920.9M | $817.2M | $779.8M | $448.5M | $345.7M | $736.4M | $743.3M | $756.3M | $794.7M | $776.5M | $561.6M | $100.7M | $132.0M | $110.4M | $90.0M | $72.9M |
| Deposits On Flight Equipment | $4.27B | $3.46B | $3.58B | $3.81B | $4.59B | $2.11B | $2.95B | $3.02B | $2.93B | $3.27B | $3.30B | $3.49B | $223.8M | ||||
| Interest Paid Net | $1.91B | $1.81B | $1.65B | $1.57B | $1.11B | $1.20B | $1.27B | $1.23B | $1.23B | $1.34B | $1.41B | $1.10B | $211.1M | $181.0M | |||
| Leasing Expenses | $647.6M | $810.4M | $756.4M | $823.6M | $319.0M | $323.5M | $288.0M | $522.4M | $141.6M | $48.5M | $72.1M | $58.4M | $55.5M | $52.0M | |||
| Additional Paid In Capital | $3.52B | $5.81B | $6.59B | $8.59B | $8.52B | $2.08B | $2.21B | $2.71B | $3.71B | $4.51B | $5.03B | $5.56B | $934.0M | $927.6M | $1.34B | $1.33B | |
| Amortization Of Maintenance Rights Expense | $158.1M | $342.9M | $328.2M | $389.9M | $138.8M | $133.0M | $244.7M | $287.1M | $539.8M | $652.1M | $628.6M | $130.8M |
Most recent annual filing with the SEC: February 12, 2026
Data sourced from SEC EDGAR public filings as of August 6, 2026.