2016 Q2 Form 10-Q Financial Statement

#000119312516672912 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $170.9M $135.4M
YoY Change 26.2% 8.85%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.10M $10.20M
YoY Change 38.24% 27.5%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $16.56M $11.68M
YoY Change 41.79% 13.98%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $59.51M $58.16M
YoY Change 2.33% 15.4%
Income Tax $18.21M $18.03M
% Of Pretax Income 30.6% 30.99%
Net Earnings $41.30M $40.13M
YoY Change 2.91% 15.22%
Net Earnings / Revenue 24.16% 29.63%
Basic Earnings Per Share $0.19 $0.22
Diluted Earnings Per Share $0.19 $0.22
COMMON SHARES
Basic Shares Outstanding 210.1M shares 174.9M shares
Diluted Shares Outstanding 211.7M shares 176.4M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $399.0M $237.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $224.8M $167.0M
YoY Change 34.61% 2.85%
Goodwill $1.021B $831.3M
YoY Change 22.84% 3.21%
Intangibles $83.74M $45.06M
YoY Change 85.86% -6.7%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $21.21B $16.60B
YoY Change 27.81% 10.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.260B $1.508B
YoY Change 49.94% 0.2%
Long-Term Debt Due $124.0M $125.0M
YoY Change -0.8% -3.1%
Total Short-Term Liabilities $124.0M $125.0M
YoY Change -0.8% -3.1%
LONG-TERM LIABILITIES
Long-Term Debt $232.0M $143.0M
YoY Change 62.24% -0.69%
Other Long-Term Liabilities $224.0M $125.0M
YoY Change 79.2% -19.35%
Total Long-Term Liabilities $456.0M $268.0M
YoY Change 70.15% -10.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $124.0M $125.0M
Total Long-Term Liabilities $456.0M $268.0M
Total Liabilities $18.67B $14.53B
YoY Change 28.47% 10.84%
SHAREHOLDERS EQUITY
Retained Earnings $255.9M $210.4M
YoY Change 21.62% 43.59%
Common Stock $2.222B $1.805B
YoY Change 23.11% 107796.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.37M $12.69M
YoY Change 13.19% 18.83%
Treasury Stock Shares 1.286M shares 1.148M shares
Shareholders Equity $2.545B $2.066B
YoY Change
Total Liabilities & Shareholders Equity $21.21B $16.60B
YoY Change 27.81% 10.52%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $41.30M $40.13M
YoY Change 2.91% 15.22%
Depreciation, Depletion And Amortization $14.10M $10.20M
YoY Change 38.24% 27.5%
Cash From Operating Activities $6.000M $38.90M
YoY Change -84.58% -31.03%
INVESTING ACTIVITIES
Capital Expenditures -$13.40M -$2.500M
YoY Change 436.0% 25.0%
Acquisitions
YoY Change
Other Investing Activities -$448.6M -$333.7M
YoY Change 34.43% -34.31%
Cash From Investing Activities -$462.0M -$336.1M
YoY Change 37.46% -34.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 509.1M 300.5M
YoY Change 69.42% -37.13%
NET CHANGE
Cash From Operating Activities 6.000M 38.90M
Cash From Investing Activities -462.0M -336.1M
Cash From Financing Activities 509.1M 300.5M
Net Change In Cash 53.10M 3.300M
YoY Change 1509.09% -86.53%
FREE CASH FLOW
Cash From Operating Activities $6.000M $38.90M
Capital Expenditures -$13.40M -$2.500M
Free Cash Flow $19.40M $41.40M
YoY Change -53.14% -29.11%

Facts In Submission

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500000
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6900000
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10200000
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500000
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6500000
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2404720000
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1500000000
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500000
CY2016Q2 fnb Valuation For Impairment Of Loans With Pooled Reserves
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500000
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510312000
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0.644 pure
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331899000
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568834 shares
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53202000
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2650000
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5027000
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CashAndDueFromBanks
207399000
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13353000
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1637061000
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7394000
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13353000
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500000000 shares
CY2015Q4 us-gaap Deposits
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12623463000
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51605000
CY2015Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
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1090000000
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6462000
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843671000
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2893041000
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23 Security
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
489119000
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254062000
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400017000
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8326000
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256120000
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53202000
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589609000
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59 Security
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ImpairedFinancingReceivableRecordedInvestment
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3126000
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CY2015Q4 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
1000
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9588000
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HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
466354000
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
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142012000
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176411000
CY2015Q4 us-gaap Liabilities
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CY2015Q4 us-gaap Goodwill
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352322000
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CY2015Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
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4781000
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642765000
CY2015Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
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FinancingReceivableCollectivelyEvaluatedForImpairment
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CY2015Q4 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsCreditLossesOnDebtSecuritiesHeld
27000
CY2015Q4 us-gaap Property Plant And Equipment Net
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159080000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2096182000
CY2015Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
266732000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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8.86
CY2015Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
2048896000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1548444 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
12.85
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
243217000
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TreasuryStockShares
1153390 shares
CY2015Q4 us-gaap Time Deposits
TimeDeposits
2465466000
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
12760000
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
110877 shares
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SecuritiesHeldAsCollateralAtFairValue
272629000
CY2015Q4 us-gaap Subordinated Long Term Debt
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84668000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
435340 shares
CY2015Q4 fnb Subordinated Notes Short Term
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124164000
CY2015Q4 fnb Securities With Carrying Value Pledged To Secure Public Deposits Trust Deposits And For Other Purposes
SecuritiesWithCarryingValuePledgedToSecurePublicDepositsTrustDepositsAndForOtherPurposes
1728939000
CY2015Q4 fnb Valuation For Impairment Of Loans With Pooled Reserves
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500000
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0.613 pure
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308311000
us-gaap Gain Loss On Sale Of Securities Net
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5000
us-gaap Allowance For Loan And Lease Losses Writeoffs Net
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11785000
us-gaap Equipment Expense
EquipmentExpense
15346000
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192000
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20984 shares
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10593000
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1564000
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us-gaap Depreciation Amortization And Accretion Net
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21871000
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9000
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0.24
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15653000
us-gaap Allowance For Loan And Lease Losses Write Offs
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0.44
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371000
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4315000
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0.43
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31656000
us-gaap Dividend Income Operating
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20000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
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3291000
us-gaap Amortization Of Intangible Assets
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4114000
us-gaap Bank Owned Life Insurance Income
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3681000
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CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldDisposalsOfLoans
348000
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5000
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4776000
us-gaap Fees And Commissions
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33331000
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14000
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42152000
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69 Contract
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4020000
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FederalDepositInsuranceCorporationPremiumExpense
6472000
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192000
us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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192000
us-gaap Deferred Income Tax Expense Benefit
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5789000
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InterestExpenseShortTermBorrowings
3562000
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4020000
us-gaap Interest And Fee Income Loans And Leases
InterestAndFeeIncomeLoansAndLeases
237199000
us-gaap Interest Paid
InterestPaid
23621000
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402216000
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3000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1196000
us-gaap Noninterest Income Other
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11427000
us-gaap Income Taxes Paid
IncomeTaxesPaid
21000000
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LaborAndRelatedExpense
99700000
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6654000
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645000
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204591000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
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377000
us-gaap Net Income Loss
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80474000
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1055000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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115468000
us-gaap Interest Expense
InterestExpense
23129000
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us-gaap Interest Income Expense After Provision For Loan Loss
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228688000
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195538000
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4989000
us-gaap Insurance Commissions And Fees
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LifeInsuranceCorporateOrBankOwnedChangeInValue
2524000
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222000
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17448000
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568000
us-gaap Noninterest Expense
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191154000
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2050000
us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
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305 Contract
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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652000
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406692000
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Extinguishments of Liabilities</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> ASU 2016-04, <i>Liabilities&#x2014;Extinguishments of Liabilities (Subtopic 405-20): Recognition of Breakage for Certain Prepaid Stored-Value Products (a consensus of the Emerging Issues Task Force),</i> requires entities that sell prepaid stored-value products redeemable for goods, services or cash at third-party merchants to recognize breakage.&#xA0;The Update is effective in the first quarter of 2018 with either the modified retrospective method by means of a cumulative-effect adjustment to retained earnings or retrospective application.&#xA0;Early application is permitted.&#xA0;This Update is not expected to have a material effect on the Consolidated Financial Statements.</p> </div>
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285000
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96499000
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38121000
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5000
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39752000
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31158000
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226000
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10071000
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10014000
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11971 shares
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5405000
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1000
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12914000
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2843000
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3388000
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2559000
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226000
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2526000
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227000
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2559000
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147000
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79000
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16640000
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9825000
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126241000

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