2024 Q3 Form 10-Q Financial Statement

#000081695624000015 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $316.7M $332.1M
YoY Change 3.97% 4.55%
Cost Of Revenue $137.7M $148.4M
YoY Change 0.88% 0.96%
Gross Profit $179.0M $183.7M
YoY Change 6.48% 7.64%
Gross Profit Margin 56.52% 55.32%
Selling, General & Admin $99.73M $122.5M
YoY Change -14.47% -5.53%
% of Gross Profit 55.72% 66.69%
Research & Development $13.56M $14.10M
YoY Change 8.46% 3.88%
% of Gross Profit 7.57% 7.67%
Depreciation & Amortization $17.97M $17.84M
YoY Change 0.98% -1.25%
% of Gross Profit 10.04% 9.71%
Operating Expenses $113.3M $136.6M
YoY Change -17.79% -4.64%
Operating Profit $65.71M $47.11M
YoY Change 116.85% 71.81%
Interest Expense $9.252M $9.593M
YoY Change -192.52% -195.96%
% of Operating Profit 14.08% 20.36%
Other Income/Expense, Net
YoY Change
Pretax Income $56.46M $37.51M
YoY Change 178.1% 115.34%
Income Tax $7.471M $7.538M
% Of Pretax Income 13.23% 20.09%
Net Earnings $48.98M $29.98M
YoY Change 210.03% 118.29%
Net Earnings / Revenue 15.47% 9.03%
Basic Earnings Per Share $1.59 $0.97
Diluted Earnings Per Share $1.57 $0.96
COMMON SHARES
Basic Shares Outstanding 30.83M shares 30.80M shares
Diluted Shares Outstanding 31.11M shares 31.11M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.47M $28.87M
YoY Change 26.12% 3.67%
Cash & Equivalents $38.47M $28.87M
Short-Term Investments
Other Short-Term Assets $28.75M $33.38M
YoY Change -26.46% 7.32%
Inventory $342.6M $322.4M
Prepaid Expenses
Receivables $231.2M $239.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $641.0M $623.8M
YoY Change 2.46% 1.35%
LONG-TERM ASSETS
Property, Plant & Equipment $117.4M $117.1M
YoY Change -2.48% 0.26%
Goodwill $806.9M $806.2M
YoY Change -1.16%
Intangibles $625.6M $633.2M
YoY Change -4.86%
Long-Term Investments
YoY Change
Other Assets $124.9M $105.2M
YoY Change 16.61% -3.61%
Total Long-Term Assets $1.675B $1.662B
YoY Change -1.49% -2.66%
TOTAL ASSETS
Total Short-Term Assets $641.0M $623.8M
Total Long-Term Assets $1.675B $1.662B
Total Assets $2.316B $2.286B
YoY Change -0.43% -1.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $104.6M $101.3M
YoY Change 27.68% 28.9%
Accrued Expenses $61.42M $55.27M
YoY Change 1.85% 0.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $717.0K $716.0K
YoY Change -98.98% -98.97%
Total Short-Term Liabilities $282.3M $266.4M
YoY Change -24.98% -24.57%
LONG-TERM LIABILITIES
Long-Term Debt $940.1M $965.2M
YoY Change -0.22% -0.65%
Other Long-Term Liabilities $94.62M $107.3M
YoY Change -34.34% -29.35%
Total Long-Term Liabilities $94.62M $107.3M
YoY Change -91.29% -29.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $282.3M $266.4M
Total Long-Term Liabilities $94.62M $107.3M
Total Liabilities $1.383B $1.404B
YoY Change -9.59% -8.99%
SHAREHOLDERS EQUITY
Retained Earnings $532.7M $489.9M
YoY Change 17.78%
Common Stock $313.0K $313.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $932.9M $881.8M
YoY Change
Total Liabilities & Shareholders Equity $2.316B $2.286B
YoY Change -0.43% -1.6%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $48.98M $29.98M
YoY Change 210.03% 118.29%
Depreciation, Depletion And Amortization $17.97M $17.84M
YoY Change 0.98% -1.25%
Cash From Operating Activities $51.20M $43.31M
YoY Change 10.83% 62.36%
INVESTING ACTIVITIES
Capital Expenditures $3.419M $3.590M
YoY Change -36.69% -20.73%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.419M -$3.590M
YoY Change -36.69% -35.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.83M -44.08M
YoY Change 4.1% 122.8%
NET CHANGE
Cash From Operating Activities 51.20M 43.31M
Cash From Investing Activities -3.419M -3.590M
Cash From Financing Activities -38.83M -44.08M
Net Change In Cash 8.953M -4.369M
YoY Change 155.8% -421.96%
FREE CASH FLOW
Cash From Operating Activities $51.20M $43.31M
Capital Expenditures $3.419M $3.590M
Free Cash Flow $47.78M $39.72M
YoY Change 17.12% 79.35%

Facts In Submission

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ForeignCurrencyTransactionGainLossBeforeTax
-965000 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1355000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2210000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1279000 usd
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
5508000 usd
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2164000 usd
CY2024Q2 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
3344000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
3824000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
3839000 usd
CY2023Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-15000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
36900000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
78600000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
77600000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
92500000 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
103140000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
107262000 usd
CY2024Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
31104000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
29463000 usd
CY2024Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
188113000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
181599000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
322357000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
318324000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
29976000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
13732000 usd
us-gaap Net Income Loss
NetIncomeLoss
49685000 usd
us-gaap Net Income Loss
NetIncomeLoss
15551000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30813000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30662000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30792000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30587000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
293000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
874000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
378000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
751000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
45000 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
22000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
214000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
139000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31106000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31795000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31170000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31499000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.97
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3400000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2700000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1700000 shares
CY2023Q4 us-gaap Goodwill
Goodwill
806844000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-643000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
806201000 usd
CY2024Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1009608000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
376364000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1008648000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
359164000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8600000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17600000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
17475000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
35381000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
35476000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
36534000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
39662000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
38877000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2177000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2365000 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
965890000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
973848000 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
716000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
708000 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
965174000 usd
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
973140000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
176588000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
800000000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
cnmd Product Warranty Accrual Term
ProductWarrantyAccrualTerm
P1Y
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1802000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1944000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
109000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
304000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
363000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
377000 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1548000 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1871000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
2600000 usd
us-gaap Product Warranty Expense
ProductWarrantyExpense
2600000 usd
CY2024Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
180000 usd
CY2023Q2 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
194000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
360000 usd
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
388000 usd
CY2024Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
863000 usd
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
911000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1726000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1822000 usd
CY2024Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1101000 usd
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1032000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2202000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2064000 usd
CY2024Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-398000 usd
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-532000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-797000 usd
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1064000 usd
CY2024Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
340000 usd
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
605000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
681000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
1210000 usd
CY2024Q2 us-gaap Revenues
Revenues
332097000 usd
CY2023Q2 us-gaap Revenues
Revenues
317652000 usd
us-gaap Revenues
Revenues
644371000 usd
us-gaap Revenues
Revenues
613121000 usd
CY2024Q2 cnmd Product Liability Contingency Insurance Amount Per Incident
ProductLiabilityContingencyInsuranceAmountPerIncident
35000000 usd
CY2024Q2 cnmd Product Liability Contingency Insurance Aggregate Annual Amount
ProductLiabilityContingencyInsuranceAggregateAnnualAmount
35000000 usd
CY2024Q2 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
June 12, 2024
CY2024Q2 ecd Trd Arr Ind Name
TrdArrIndName
Curt Hartman
CY2024Q2 ecd Trd Arr Ind Title
TrdArrIndTitle
Chair of the Board, President & Chief Executive Officer
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
148300 shares

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