2015 Q1 Form 10-Q Financial Statement

#000089962915000016 Filed on May 01, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $49.07M $46.69M
YoY Change 5.12% 10.39%
Cost Of Revenue $14.02M $12.79M
YoY Change 9.62% 35.06%
Gross Profit $38.46M $33.89M
YoY Change 13.48% 3.26%
Gross Profit Margin 78.37% 72.59%
Selling, General & Admin $7.530M $6.900M
YoY Change 9.13% 22.56%
% of Gross Profit 19.58% 20.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.66M $11.59M
YoY Change 17.87% 9.02%
% of Gross Profit 35.51% 34.19%
Operating Expenses $37.33M $31.96M
YoY Change 16.8% 23.71%
Operating Profit $15.15M $14.72M
YoY Change 2.9% -10.52%
Interest Expense -$2.230M -$7.620M
YoY Change -70.73% 8.24%
% of Operating Profit -14.72% -51.76%
Other Income/Expense, Net
YoY Change
Pretax Income $39.95M $19.28M
YoY Change 107.2% 104.79%
Income Tax $1.417M $168.0K
% Of Pretax Income 3.55% 0.87%
Net Earnings $38.54M $19.12M
YoY Change 101.61% 70.99%
Net Earnings / Revenue 78.53% 40.94%
Basic Earnings Per Share $0.24 $0.38
Diluted Earnings Per Share $0.24 $0.38
COMMON SHARES
Basic Shares Outstanding 68.30M shares 55.90M shares
Diluted Shares Outstanding 68.36M shares 56.02M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.6M $72.80M
YoY Change 64.29% -11.0%
Cash & Equivalents $119.6M $72.79M
Short-Term Investments
Other Short-Term Assets $53.30M $51.40M
YoY Change 3.7% 12.23%
Inventory $484.7M $369.4M
Prepaid Expenses
Receivables $38.40M $30.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $696.0M $523.6M
YoY Change 32.93% 225.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.749B $1.321B
YoY Change 32.4% -14.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $184.5M $178.1M
YoY Change 3.59% -19.96%
Other Assets $97.00M $162.9M
YoY Change -40.45% -29.78%
Total Long-Term Assets $2.175B $1.822B
YoY Change 19.35% -14.65%
TOTAL ASSETS
Total Short-Term Assets $696.0M $523.6M
Total Long-Term Assets $2.175B $1.822B
Total Assets $2.871B $2.346B
YoY Change 22.38% 2.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $36.50M $41.50M
YoY Change -12.05% 33.44%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.50M $63.90M
YoY Change 4.07% 15.34%
LONG-TERM LIABILITIES
Long-Term Debt $1.305B $1.109B
YoY Change 17.68% 0.58%
Other Long-Term Liabilities $57.90M $42.50M
YoY Change 36.24% -17.48%
Total Long-Term Liabilities $1.363B $1.151B
YoY Change 18.36% -0.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.50M $63.90M
Total Long-Term Liabilities $1.363B $1.151B
Total Liabilities $1.429B $1.215B
YoY Change 17.62% 0.49%
SHAREHOLDERS EQUITY
Retained Earnings $31.68M $46.33M
YoY Change -31.62% 6.88%
Common Stock $1.049B $693.7M
YoY Change 51.15% 9.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.073B $739.6M
YoY Change
Total Liabilities & Shareholders Equity $2.871B $2.346B
YoY Change 22.38% 2.18%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $38.54M $19.12M
YoY Change 101.61% 70.99%
Depreciation, Depletion And Amortization $13.66M $11.59M
YoY Change 17.87% 9.02%
Cash From Operating Activities $26.62M $22.18M
YoY Change 20.02% 423.91%
INVESTING ACTIVITIES
Capital Expenditures -$260.8M -$128.0M
YoY Change 103.75% 22.49%
Acquisitions
YoY Change
Other Investing Activities $25.70M $7.700M
YoY Change 233.77% 35.09%
Cash From Investing Activities -$235.1M -$120.3M
YoY Change 95.44% 21.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $18.61M $23.52M
YoY Change -20.89% -54.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $110.5M $91.72M
YoY Change 20.43% 8.32%
NET CHANGE
Cash From Operating Activities $26.62M $22.18M
Cash From Investing Activities -$235.1M -$120.3M
Cash From Financing Activities $110.5M $91.72M
Net Change In Cash -$98.03M -$6.397M
YoY Change 1432.36% -35.91%
FREE CASH FLOW
Cash From Operating Activities $26.62M $22.18M
Capital Expenditures -$260.8M -$128.0M
Free Cash Flow $287.4M $150.2M
YoY Change 91.39% 38.12%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2015Q1 akr Deferred Acquisition And Leasing Cost
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CY2015Q1 akr Disposalof Real Estate Through Cancellationof Debt
DisposalofRealEstateThroughCancellationofDebt
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DistributionsInExcessOfIncomeFromAndInvestmentsInUnconsolidatedAffiliates
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CY2015Q1 akr Distributions In Excess Of Income From And Investments In Unconsolidated Affiliates
DistributionsInExcessOfIncomeFromAndInvestmentsInUnconsolidatedAffiliates
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27143000 USD
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CY2015Q1 akr Increase Decrease In Escrow Deposit
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CY2015Q1 akr Length Of Loan Extension
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MortgageInterestIncome
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CY2015Q1 akr Mortgage Loanson Real Estate Carrying Amountof Mortgages And Preferred Equity Investments
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CY2015Q1 akr Mortgage Loanson Real Estate Numberof Borrowers
MortgageLoansonRealEstateNumberofBorrowers
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CY2015Q1 akr Mortgage Loanson Real Estate Numberof Cross Collateralized Loans
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3 loan
CY2015Q1 akr Noncontrolling Interest Increase From Contributions
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CY2015Q1 akr Number Of Loan Extensions
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CY2015Q1 akr Number Of Opportunity Funds
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CY2014Q1 akr Property Operating Expenses And Real Estate Taxes
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CY2014Q1 akr Return Of Capital From Unconsolidated Affiliates
ReturnOfCapitalFromUnconsolidatedAffiliates
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CY2015Q1 akr Return Of Capital From Unconsolidated Affiliates
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CY2015Q1 akr Trustee Fee Expense
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CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
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110459000 USD
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-2480000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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21990000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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21595000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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16547000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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21203000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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16307000 USD
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145 property
CY2015Q1 us-gaap Number Of Reportable Segments
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3 segment
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29585000 USD
CY2015Q1 us-gaap Off Market Lease Unfavorable
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31964000 USD
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14721000 USD
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15148000 USD
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33818000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Minimum Lease Revenue
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38187000 USD
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-1492000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3266000 USD
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-837000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-1053000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-2329000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-4319000 USD
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687000 USD
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2120000 USD
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25148000 USD
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27196000 USD
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648000 USD
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913000 USD
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820000 USD
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921000 USD
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1232000 USD
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37505000 USD
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PaymentsForCapitalImprovements
40494000 USD
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PaymentsForDepositsOnRealEstateAcquisitions
0 USD
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33000000 USD
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12798000 USD
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36779000 USD
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429000 USD
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440000 USD
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21568000 USD
CY2015Q1 us-gaap Payments To Acquire Equity Method Investments
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3151000 USD
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400000 USD
CY2014Q1 us-gaap Payments To Acquire Notes Receivable
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0 USD
CY2015Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
550000 USD
CY2014Q1 us-gaap Payments To Acquire Real Estate
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90500000 USD
CY2015Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
220271000 USD
CY2014Q1 us-gaap Payments To Minority Shareholders
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33577000 USD
CY2015Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
34718000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
56508000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
53330000 USD
CY2014Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
7156000 USD
CY2015Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2014Q1 us-gaap Proceeds From Contributions From Affiliates
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2562000 USD
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ProceedsFromContributionsFromAffiliates
5889000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
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23519000 USD
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18605000 USD
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130700000 USD
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169720000 USD
CY2014Q1 us-gaap Proceeds From Minority Shareholders
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8712000 USD
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50000 USD
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15058000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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256015000 USD
CY2015Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
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270372000 USD
CY2015Q1 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
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25203000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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0 USD
CY2015Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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63224000 USD
CY2014Q1 us-gaap Profit Loss
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19115000 USD
CY2015Q1 us-gaap Profit Loss
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38537000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
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1761205000 USD
CY2015Q1 us-gaap Real Estate Investment Property At Cost
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2019626000 USD
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1505190000 USD
CY2015Q1 us-gaap Real Estate Investment Property Net
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1749254000 USD
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46685000 USD
CY2015Q1 us-gaap Real Estate Revenue Net
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52481000 USD
CY2014Q1 us-gaap Real Estate Tax Expense
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5670000 USD
CY2015Q1 us-gaap Real Estate Tax Expense
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6292000 USD
CY2014Q1 us-gaap Repayments Of Secured Debt
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38972000 USD
CY2015Q1 us-gaap Repayments Of Secured Debt
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30390000 USD
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30604000 USD
CY2015Q1 us-gaap Restricted Cash And Cash Equivalents
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5401000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31617000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
31678000 USD
CY2014Q1 us-gaap Share Based Compensation
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2087000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1889000 USD
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P5Y
CY2015Q1 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2015Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1878000 USD
CY2014Q4 us-gaap Stockholders Equity
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1055541000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1073356000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1435957000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1441728000 USD
CY2014Q1 us-gaap Tenant Reimbursements
TenantReimbursements
8790000 USD
CY2015Q1 us-gaap Tenant Reimbursements
TenantReimbursements
10066000 USD
CY2014Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
392000 USD
CY2015Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
240000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56018000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68360000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
55953000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68295000 shares
CY2015Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain reclassifications have been made to the 2014 financial statements to conform to the 2015 presentation.</font></div></div>

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