Revenue flow

Margins

Stage	AMP	% of rev	BX	% of rev	Gap · A − B
Revenue	$5.1B	100.00%	$5.0B	100.00%	AMP ×1.01
Gross profit	$5.1B	100.00%	$5.0B	100.00%	0.0pp
Operating income	$1.4B	27.89%	$2.7B	52.90%	BX +25.0pp
Pre-tax income	$1.4B	27.89%	$2.8B	55.68%	BX +27.8pp
Net income	$1.1B	22.01%	$2.4B	46.71%	BX +24.7pp

Stage	AMP	BX	Gap · A − B
Revenue	$5.1B100.00%	$5.0B100.00%	AMP ×1.01
Gross profit	100.00%$5.1B	100.00%$5.0B	0.0pp
Operating income	27.89%$1.4B	52.90%$2.7B	BX +25.0pp
Pre-tax income	27.89%$1.4B	55.68%$2.8B	BX +27.8pp
Net income