2016 Form 10-K Financial Statement

#000010956316000283 Filed on August 24, 2016

View on sec.gov

Income Statement

Concept 2016 2015 Q2 2015
Revenue $21.49M $677.5M $24.09M
YoY Change -10.8% 3.5% 10.45%
Cost Of Revenue $1.812B $485.7M $1.982B
YoY Change -8.57% 2.88% 11.78%
Gross Profit $707.4M $191.8M $769.8M
YoY Change -8.1% 5.1% 12.07%
Gross Profit Margin 3292.63% 28.31% 3195.97%
Selling, General & Admin $552.8M $143.9M $585.2M
YoY Change -5.53% 4.5% 11.98%
% of Gross Profit 78.15% 75.03% 76.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.97M $10.20M $16.58M
YoY Change -3.69% 21.43% 18.61%
% of Gross Profit 2.26% 5.32% 2.15%
Operating Expenses $552.8M $144.0M $585.2M
YoY Change -5.53% 4.58% 11.98%
Operating Profit $89.78M $47.80M $184.6M
YoY Change -51.37% 6.7% 12.33%
Interest Expense $9.004M -$3.200M $8.121M
YoY Change 10.87% -3300.0% 802.33%
% of Operating Profit 10.03% -6.69% 4.4%
Other Income/Expense, Net -$2.041M -$100.0K -$879.0K
YoY Change 132.2% 0.0% -140.83%
Pretax Income $140.0M $44.60M $152.6M
YoY Change -8.29% -0.67% 3.13%
Income Tax $49.40M $16.60M $60.39M
% Of Pretax Income 35.3% 37.22% 39.57%
Net Earnings $29.58M $28.00M $115.5M
YoY Change -74.39% -5.72% 2.36%
Net Earnings / Revenue 137.66% 4.13% 479.45%
Basic Earnings Per Share $0.75 $2.82
Diluted Earnings Per Share $0.75 $694.8K $2.80
COMMON SHARES
Basic Shares Outstanding 39.25M shares 40.16M shares 40.89M shares
Diluted Shares Outstanding 39.47M shares 41.19M shares

Balance Sheet

Concept 2016 2015 Q2 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.90M $69.50M $69.50M
YoY Change -13.81% -2.39% -2.39%
Cash & Equivalents $59.90M $69.47M $69.50M
Short-Term Investments
Other Short-Term Assets $35.60M $37.82M $37.80M
YoY Change -5.82% -29.29% -29.35%
Inventory $338.2M $362.4M $362.4M
Prepaid Expenses
Receivables $347.9M $376.3M $376.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $781.5M $846.0M $846.0M
YoY Change -7.62% 1.18% 1.18%
LONG-TERM ASSETS
Property, Plant & Equipment $107.8M $104.4M $104.4M
YoY Change 3.26% 0.82% 0.77%
Goodwill $254.4M
YoY Change 31.48%
Intangibles $198.8M
YoY Change 24.65%
Long-Term Investments
YoY Change
Other Assets $28.80M $17.89M $28.90M
YoY Change -0.35% -11.71% -30.19%
Total Long-Term Assets $530.5M $586.5M $586.6M
YoY Change -9.56% 17.78% 17.77%
TOTAL ASSETS
Total Short-Term Assets $781.5M $846.0M $846.0M
Total Long-Term Assets $530.5M $586.5M $586.6M
Total Assets $1.312B $1.433B $1.433B
YoY Change -8.42% 7.37% 7.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $148.5M $179.8M $179.8M
YoY Change -17.41% 4.31% 4.29%
Accrued Expenses $57.20M $63.80M $63.80M
YoY Change -10.34% 14.34% 14.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.200M $3.349M $3.300M
YoY Change -3.03% 23.13% 22.22%
Total Short-Term Liabilities $274.3M $310.1M $310.1M
YoY Change -11.54% 6.57% 6.56%
LONG-TERM LIABILITIES
Long-Term Debt $324.6M $317.6M $317.6M
YoY Change 2.2% 89.08% 89.05%
Other Long-Term Liabilities $55.20M $43.88M $63.50M
YoY Change -13.07% -14.46% -15.22%
Total Long-Term Liabilities $379.8M $361.5M $381.1M
YoY Change -0.34% 64.86% 56.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $274.3M $310.1M $310.1M
Total Long-Term Liabilities $379.8M $361.5M $381.1M
Total Liabilities $654.1M $691.2M $691.2M
YoY Change -5.37% 29.48% 29.46%
SHAREHOLDERS EQUITY
Retained Earnings $969.5M
YoY Change 8.11%
Common Stock $170.1M
YoY Change 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost) $338.1M
YoY Change 29.13%
Treasury Stock Shares 14.31M shares
Shareholders Equity $657.9M $741.3M $741.3M
YoY Change
Total Liabilities & Shareholders Equity $1.312B $1.433B $1.433B
YoY Change -8.42% 7.37% 7.38%

Cashflow Statement

Concept 2016 2015 Q2 2015
OPERATING ACTIVITIES
Net Income $29.58M $28.00M $115.5M
YoY Change -74.39% -5.72% 2.36%
Depreciation, Depletion And Amortization $15.97M $10.20M $16.58M
YoY Change -3.69% 21.43% 18.61%
Cash From Operating Activities $162.0M $117.7M $157.0M
YoY Change 3.19% 78.88% 42.59%
INVESTING ACTIVITIES
Capital Expenditures -$13.10M -$3.900M -$14.90M
YoY Change -12.08% -71.53% -26.24%
Acquisitions $62.50M $160.6M
YoY Change -61.09% -12.86%
Other Investing Activities -$61.90M $7.300M -$158.7M
YoY Change -61.0% -104.38% -13.47%
Cash From Investing Activities -$75.03M $3.400M -$173.6M
YoY Change -56.78% -101.88% -14.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $37.47M $76.52M
YoY Change -51.04% 108.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$93.01M -105.5M $22.22M
YoY Change -518.57% -191.5% -75.89%
NET CHANGE
Cash From Operating Activities $162.0M 117.7M $157.0M
Cash From Investing Activities -$75.03M 3.400M -$173.6M
Cash From Financing Activities -$93.01M -105.5M $22.22M
Net Change In Cash -$6.024M 15.60M $5.606M
YoY Change -207.46% 2500.0% -504.77%
FREE CASH FLOW
Cash From Operating Activities $162.0M $117.7M $157.0M
Capital Expenditures -$13.10M -$3.900M -$14.90M
Free Cash Flow $175.1M $121.6M $171.9M
YoY Change 1.87% 52.96% 31.92%

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48553000 USD
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10980000 USD
CY2016Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
12277000 USD
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DeferredTaxAssetsOperatingLossCarryforwards
860000 USD
CY2016Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4960000 USD
CY2015Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
289000 USD
CY2016Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
83000 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
1155000 USD
CY2016Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
849000 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
28902000 USD
CY2016Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
25992000 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
9115000 USD
CY2016Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
11650000 USD
CY2015Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
917000 USD
CY2016Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1347000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
6767000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
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5499000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Inventory Costs
DeferredTaxLiabilitiesDeferredExpenseCapitalizedInventoryCosts
4785000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
53534000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Gross Noncurrent
DeferredTaxLiabilitiesGrossNoncurrent
48030000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
17747000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
11754000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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9328000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
9892000 USD
CY2015Q2 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
38707000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Unrealized Currency Transaction Gains
DeferredTaxLiabilitiesUnrealizedCurrencyTransactionGains
33353000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Accumulated Postretirement Benefit Obligation1
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnAccumulatedPostretirementBenefitObligation1
214000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Decrease On Service And Interest Cost Components1
DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1
11000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Accumulated Postretirement Benefit Obligation
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnAccumulatedPostretirementBenefitObligation
255000 USD
CY2016 us-gaap Defined Benefit Plan Effect Of One Percentage Point Increase On Service And Interest Cost Components
DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents
13000 USD
CY2015Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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7185000 USD
CY2016Q2 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
6737000 USD
CY2015 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed For Next Fiscal Year
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0.068
CY2016 us-gaap Defined Benefit Plan Health Care Cost Trend Rate Assumed For Next Fiscal Year
DefinedBenefitPlanHealthCareCostTrendRateAssumedForNextFiscalYear
0.070
CY2016 us-gaap Defined Benefit Plan Ultimate Health Care Cost Trend Rate
DefinedBenefitPlanUltimateHealthCareCostTrendRate
0.050
CY2014 us-gaap Depreciation
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13977000 USD
CY2015 us-gaap Depreciation
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16578000 USD
CY2016 us-gaap Depreciation
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15966000 USD
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DividendsCommonStockCash
40410000 USD
CY2015 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
42663000 USD
CY2016 us-gaap Dividends Common Stock Cash
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54266000 USD
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2.69
CY2015 us-gaap Earnings Per Share Basic
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2.82
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
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EarningsPerShareDiluted
2.67
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.80
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-590000 USD
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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-7325000 USD
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-3585000 USD
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EffectOfLIFOInventoryLiquidationOnIncome
2100000 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
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0.321
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.343
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.626
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.005
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.005
CY2014 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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-0.005
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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-0.005
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2674000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1042000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
208000 USD
CY2015Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
397524000 USD
CY2016Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
380000000 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
88236000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
111064000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
25000000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
17600000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
19200000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
21000000 USD
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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-0.009
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.026
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.025
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.030
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0.271
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.006
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.007
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.013
CY2014 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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-0.016
CY2015 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
EffectiveIncomeTaxRateReconciliationRepatriationOfForeignEarnings
0.000
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.024
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.025
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.052
CY2015Q2 us-gaap Employee Related Liabilities Current
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63780000 USD
CY2016Q2 us-gaap Employee Related Liabilities Current
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57187000 USD
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8259000 USD
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P2Y0M
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1768000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1749000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1595000 USD
CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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1462000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
352000 USD
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
212000 USD
CY2015Q2 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
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-151779000 USD
CY2016Q2 us-gaap Excess Of Replacement Or Current Costs Over Stated Lifo Value
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-147244000 USD
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FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
22700000 USD
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287064000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
302304000 USD
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198828000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
191240000 USD
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FinitelivedIntangibleAssetsAcquired1
21650000 USD
CY2014 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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-801000 USD
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23253000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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-60982000 USD
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166262000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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175871000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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139960000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
78978000 USD
CY2015Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
497000 USD
CY2016Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
625000 USD
CY2014 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
16000 USD
CY2015 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
49000 USD
CY2016 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
127000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
18282000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
53441000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
60387000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
49401000 USD
CY2014 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
2804000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
51548000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
69272000 USD
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ForeignCurrencyTransactionGainLossBeforeTax
-1251000 USD
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1039000 USD
CY2014 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-204000 USD
CY2015 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
727000 USD
CY2016 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-61000 USD
CY2014 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
53000 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1291000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-337000 USD
CY2014Q2 us-gaap Goodwill
Goodwill
193494000 USD
CY2015Q2 us-gaap Goodwill
Goodwill
254406000 USD
CY2016Q2 us-gaap Goodwill
Goodwill
202700000 USD
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GoodwillAcquiredDuringPeriod
77728000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
21968000 USD
CY2014 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
64794000 USD
CY2015 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-16816000 USD
CY2016 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-8880000 USD
CY2014 us-gaap Gross Profit
GrossProfit
686926000 USD
CY2015 us-gaap Gross Profit
GrossProfit
769814000 USD
CY2016 us-gaap Gross Profit
GrossProfit
707422000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
147980000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
152618000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
54749000 USD
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IncreaseDecreaseInAccountsPayable
21369000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1040000 USD
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-28644000 USD
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-13129000 USD
CY2015Q2 us-gaap Land
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12950000 USD
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29089000 USD
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338221000 USD
CY2014 us-gaap Sales Revenue Net
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2459878000 USD
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InvestmentIncomeInterestAndDividend
651000 USD
CY2015 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
252000 USD
CY2016 us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
241000 USD
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-26414000 USD
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29171000 USD
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15704000 USD
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-25081000 USD
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-17966000 USD
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-797000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
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-2964000 USD
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-12370000 USD
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-2707000 USD
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-2927000 USD
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198828000 USD
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191240000 USD
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InterestExpense
900000 USD
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InterestExpense
8121000 USD
CY2016 us-gaap Interest Expense
InterestExpense
9004000 USD
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InterestIncomeExpenseNet
-249000 USD
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InterestIncomeExpenseNet
-7869000 USD
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InterestIncomeExpenseNet
-8763000 USD
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InterestPaid
1026000 USD
CY2015 us-gaap Interest Paid
InterestPaid
5851000 USD
CY2016 us-gaap Interest Paid
InterestPaid
9497000 USD
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514198000 USD
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InventoryGross
485465000 USD
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362419000 USD
CY2016Q2 us-gaap Land
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14214000 USD
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1841000 USD
CY2016Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2698000 USD
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Liabilities
691228000 USD
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Liabilities
654613000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
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1432556000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
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1312529000 USD
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310072000 USD
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274388000 USD
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3349000 USD
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3352000 USD
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105726000 USD
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3352000 USD
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174804000 USD
CY2016Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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33050000 USD
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6484000 USD
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4918000 USD
CY2015Q2 us-gaap Long Term Debt Noncurrent
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317646000 USD
CY2016Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
324982000 USD
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92142000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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24689000 USD
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities
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CY2015 us-gaap Net Cash Provided By Used In Investing Activities
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CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014 us-gaap Net Cash Provided By Used In Operating Activities
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110110000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
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154538000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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160992000 USD
CY2014 us-gaap Net Income Loss
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112821000 USD
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115484000 USD
CY2016 us-gaap Net Income Loss
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29577000 USD
CY2014 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Change On Net Income
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1342000 USD
CY2015 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Change On Net Income
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfChangeOnNetIncome
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;font-size:11pt;"><font style="font-family:Frutiger LT 55 Roman,sans-serif;font-size:11pt;color:#76787a;">New Accounting Pronouncements</font></div><div style="line-height:120%;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In May 2014, the FASB issued its final standard on the recognition of revenue from contracts with customers. <br clear="none"/>The standard, issued as ASU 2014-09, outlines a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry specific guidance. The core principle of this model is that "an entity recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services." In August 2015, the FASB issued ASU 2015-14 to delay the effective date of ASU 2014-09 by one year. In accordance with the delay, the update is effective for financial statement periods beginning after December 15, 2017. Early adoption is permitted, but not before financial statement periods beginning after December 15, 2016. In March 2016 the FASB issued ASU 2016-08 and ASU 2016-10, and in May 2016 the FASB issued ASU 2016-12, which clarify the guidance in ASU 2014-09 but do not change the core principle of the revenue recognition model. The Company has not determined the collective impact of these pronouncements on its financial statements and related disclosures or the method of adoption.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In April 2015, the FASB issued its final standard on simplifying the presentation of debt issue costs. This standard, issued as ASU 2015-03, requires that all costs incurred to issue debt be presented in the balance sheet as a direct reduction from the carrying value of the debt, similar to the presentation of debt discounts. This update is effective for financial statement periods beginning after December 15, 2015, and interim periods within those fiscal years, with early adoption permitted. The impact of the adoption of this guidance will result in the reclassification of the unamortized debt issuance costs on the consolidated balance sheets, which were </font><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">$504</font><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;"> and </font><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">$394</font><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;"> at June 30, 2016 and 2015, respectively, recorded in other current assets and other assets in the consolidated balance sheets.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In July 2015, the FASB issued its final standard on simplifying the measurement of inventory. This standard, issued as ASU 2015-11, specifies that an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The new standard does not apply to inventory that is measured using LIFO; therefore, it is not applicable to the Company's U.S. inventory values, but does apply to the Company's foreign inventories which are valued using the average cost method. The update is effective for financial statement periods beginning after December 15, 2016, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In September 2015, the FASB issued its final standard on simplifying the accounting for measurement-period adjustments for business combinations. This standard, issued as ASU 2015-16, requires that an entity that is the acquirer in a business combination that identifies adjustments to provisional amounts during the measurement period recognize those adjustments in the reporting period in which the amounts are determined. This update further requires that the acquirer record, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The update is effective for financial statement periods beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this update, with early adoption permitted. When adjustments to provisional amounts occur in the future, the Company will make the adjustments in the appropriate period and include the required disclosures.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In January 2016, the FASB issued its final standard on financial instruments. This standard, issued as ASU 2016-01, enhances the reporting model for financial instruments to provide users of financial statements with more decision-useful information and addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The update is effective for financial statement periods beginning after December 15, 2017, with earlier application permitted for only certain aspects of the standard; earlier application of the remaining aspects is not permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In February 2016, the FASB issued its final standard on accounting for leases. This standard, issued as ASU 2016-02, requires that an entity that is a lessee recognize lease assets and lease liabilities on the balance sheet for all leases and disclose key information about leasing arrangements. The core principle of this update is that a "lessee should recognize the assets and liabilities that arise from leases." This update is effective for financial statement periods beginning after December 15, 2018, with earlier application permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In March 2016, the FASB issued its final standard on simplifying the accounting for share-based payment awards. This standard, issued as ASU 2016-09, simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification on the statement of cash flows, and accounting for forfeitures. This update is effective for financial statement periods beginning after December 15, 2016, with early adoption permitted. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures or the method of adoption.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">In June 2016, the FASB issued its final standard on measurement of credit losses on financial instruments. This standard, issued as ASU 2016-13, requires that an entity measure impairment of certain financial instruments, including trade receivables, based on expected losses rather than incurred losses. This update is effective for financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. The Company has not yet determined the impact of this pronouncement on its financial statements and related disclosures.</font></div></div>
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:4px;text-align:left;font-size:11pt;"><font style="font-family:Frutiger LT 55 Roman,sans-serif;font-size:11pt;color:#76787a;">Business</font></div><div style="line-height:120%;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">Applied Industrial Technologies, Inc. and subsidiaries (the &#8220;Company&#8221; or &#8220;Applied&#8221;) is a leading industrial distributor serving Maintenance Repair &amp; Operations (MRO) and Original Equipment Manufacturer (OEM) customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. Although the Company does not generally manufacture the products it sells, it does assemble and repair certain products and systems.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;font-size:11pt;"><font style="font-family:Frutiger LT 55 Roman,sans-serif;font-size:11pt;color:#76787a;">Estimates</font></div><div style="line-height:120%;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:Frutiger LT 45 Light,sans-serif;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the period. Actual results may differ from the estimates and assumptions used in preparing the consolidated financial statements.</font></div></div>

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