2012 Q4 Form 10-Q Financial Statement

#000005143412000004 Filed on November 07, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $7.075B $7.026B $6.632B
YoY Change 11.12% 5.94% -1.31%
Cost Of Revenue $5.193B $5.140B $4.793B
YoY Change 11.39% 7.24% 0.74%
Gross Profit $1.882B $1.886B $1.839B
YoY Change 10.38% 2.56% -6.27%
Gross Profit Margin 26.6% 26.84% 27.73%
Selling, General & Admin $1.033B $527.0M $477.0M
YoY Change 11.8% 10.48% -47.06%
% of Gross Profit 54.89% 27.94% 25.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $375.0M $356.0M $319.0M
YoY Change 16.82% 11.6% -11.88%
% of Gross Profit 19.93% 18.88% 17.35%
Operating Expenses $1.412B $527.0M $477.0M
YoY Change 13.41% 10.48% -62.23%
Operating Profit $470.0M $539.0M $571.0M
YoY Change 2.17% -5.6% -18.31%
Interest Expense -$169.0M $197.0M $144.0M
YoY Change 22.46% 36.81% -11.11%
% of Operating Profit -35.96% 36.55% 25.22%
Other Income/Expense, Net
YoY Change
Pretax Income $287.0M $320.0M $381.0M
YoY Change -31.01% -16.01% -30.35%
Income Tax $74.00M $130.0M -$84.00M
% Of Pretax Income 25.78% 40.63% -22.05%
Net Earnings $235.0M $237.0M $468.0M
YoY Change -16.37% -49.36% 17.88%
Net Earnings / Revenue 3.32% 3.37% 7.06%
Basic Earnings Per Share $0.54 $0.54 $1.08
Diluted Earnings Per Share $0.53 $0.54 $1.08
COMMON SHARES
Basic Shares Outstanding 439.1M shares 435.1M shares 432.3M shares
Diluted Shares Outstanding 439.8M shares 435.2M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.302B $1.275B $2.722B
YoY Change -67.4% -53.16% 90.48%
Cash & Equivalents $1.302B $1.275B $2.722B
Short-Term Investments
Other Short-Term Assets $229.0M $227.0M $1.057B
YoY Change 39.63% -78.52% 44.2%
Inventory $2.730B $2.667B $2.326B
Prepaid Expenses
Receivables $3.562B $3.699B $3.830B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.905B $8.993B $9.935B
YoY Change -14.83% -9.48% 27.24%
LONG-TERM ASSETS
Property, Plant & Equipment $13.95B $13.92B $12.08B
YoY Change 18.04% 15.3% -5.37%
Goodwill $4.315B $4.406B
YoY Change 83.93%
Intangibles
YoY Change
Long-Term Investments $2.995B $2.973B $706.0M
YoY Change 355.86% 321.1% -33.71%
Other Assets $1.367B $1.648B $875.0M
YoY Change 26.34% 88.34% -25.28%
Total Long-Term Assets $14.57B $23.57B $15.90B
YoY Change 16.78% 48.24% -8.0%
TOTAL ASSETS
Total Short-Term Assets $8.905B $8.993B $9.935B
Total Long-Term Assets $14.57B $23.57B $15.90B
Total Assets $32.15B $32.56B $25.83B
YoY Change 19.01% 26.04% 2.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.775B $2.690B $2.494B
YoY Change 11.0% 7.86% -2.43%
Accrued Expenses $508.0M $497.0M $452.0M
YoY Change 8.78% 9.96% 4.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $444.0M $413.0M $644.0M
YoY Change -38.25% -35.87% 106.41%
Total Short-Term Liabilities $4.998B $4.997B $4.747B
YoY Change 5.49% 5.27% 5.07%
LONG-TERM LIABILITIES
Long-Term Debt $9.696B $10.05B $7.801B
YoY Change 5.52% 28.8% -7.44%
Other Long-Term Liabilities $1.176B $1.294B $2.909B
YoY Change 55.15% -55.52% 5.94%
Total Long-Term Liabilities $10.87B $11.34B $10.71B
YoY Change 9.3% 5.9% -4.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.998B $4.997B $4.747B
Total Long-Term Liabilities $10.87B $11.34B $10.71B
Total Liabilities $15.87B $16.34B $18.43B
YoY Change 8.07% -11.36% -1.44%
SHAREHOLDERS EQUITY
Retained Earnings $3.662B $3.561B
YoY Change 9.15%
Common Stock $6.482B $6.413B
YoY Change 2.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $9.000M
YoY Change -100.0%
Treasury Stock Shares 13.00K shares 300.0K shares
Shareholders Equity $6.304B $7.006B $7.402B
YoY Change
Total Liabilities & Shareholders Equity $32.15B $32.56B $25.83B
YoY Change 19.01% 26.04% 2.97%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $235.0M $237.0M $468.0M
YoY Change -16.37% -49.36% 17.88%
Depreciation, Depletion And Amortization $375.0M $356.0M $319.0M
YoY Change 16.82% 11.6% -11.88%
Cash From Operating Activities $713.0M $879.0M $876.0M
YoY Change 11.93% 0.34% -511.27%
INVESTING ACTIVITIES
Capital Expenditures -$382.0M -$296.0M -$315.0M
YoY Change -11.98% -6.03% 71.2%
Acquisitions
YoY Change
Other Investing Activities $6.000M $394.0M -$26.00M
YoY Change -103.75% -1615.38% -178.79%
Cash From Investing Activities -$376.0M $98.00M -$341.0M
YoY Change -36.7% -128.74% 125.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -315.0M -938.0M -129.0M
YoY Change -125.57% 627.13% 2.38%
NET CHANGE
Cash From Operating Activities 713.0M 879.0M 876.0M
Cash From Investing Activities -376.0M 98.00M -341.0M
Cash From Financing Activities -315.0M -938.0M -129.0M
Net Change In Cash 22.00M 39.00M 406.0M
YoY Change -98.27% -90.39% -182.86%
FREE CASH FLOW
Cash From Operating Activities $713.0M $879.0M $876.0M
Capital Expenditures -$382.0M -$296.0M -$315.0M
Free Cash Flow $1.095B $1.175B $1.191B
YoY Change 2.24% -1.34% -4206.9%

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us-gaap Shipping Handling And Transportation Costs
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1053000000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
1198000000 USD
CY2012Q3 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
403000000 USD
CY2011Q3 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
352000000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1887878 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
81000000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
144000000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
7006000000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
6645000000 USD
CY2012Q3 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
7015000000 USD
CY2011Q4 us-gaap Stockholders Equity Before Treasury Stock
StockholdersEquityBeforeTreasuryStock
6697000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6985000000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7345000000 USD
CY2011Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7601000000 USD
CY2011Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7125000000 USD
CY2011Q2 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
5000000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-5000000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
0 USD
us-gaap Taxes Other
TaxesOther
124000000 USD
us-gaap Taxes Other
TaxesOther
111000000 USD
CY2011Q3 us-gaap Taxes Other
TaxesOther
33000000 USD
CY2012Q3 us-gaap Taxes Other
TaxesOther
39000000 USD
CY2012Q3 us-gaap Timber And Timberlands
TimberAndTimberlands
618000000 USD
CY2011Q4 us-gaap Timber And Timberlands
TimberAndTimberlands
660000000 USD
CY2012Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
300000 shares
CY2011Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1900000 shares
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
52000000 USD
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
9000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
35000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
30000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
-857000000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
-979000000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
-97000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
-88000000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000000 USD
CY2012Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
-10000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2000000 USD
CY2012Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-5000000 USD
CY2012Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-119000000 USD
CY2012Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
820000000 USD
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
439800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
436700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
439700000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
435200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
432200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
434700000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
435100000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
432300000 shares
CY2012Q3 ip Accretion Expense For Amortization Of Purchase Accounting Adjustment Financial Liabiities
AccretionExpenseForAmortizationOfPurchaseAccountingAdjustmentFinancialLiabiities
5000000 USD
CY2012Q3 ip Accretion Income For Amortization Of Purchase Accounting Adjustment Financial Assets
AccretionIncomeForAmortizationOfPurchaseAccountingAdjustmentFinancialAssets
12000000 USD
ip Acquired Noncontrolling Interest
AcquiredNoncontrollingInterest
2000000 USD
ip Acquired Noncontrolling Interest
AcquiredNoncontrollingInterest
0 USD
CY2011Q1 ip Business Combination Bargain Purchase Gain Recognized Net Of Tax
BusinessCombinationBargainPurchaseGainRecognizedNetOfTax
7000000 USD
CY2012Q3 ip Cash Collateral Percentage Of Notes
CashCollateralPercentageOfNotes
1
CY2012Q3 ip Cost Of Products Sold And Other Nonoperating Income Expense
CostOfProductsSoldAndOtherNonoperatingIncomeExpense
5140000000 USD
CY2011Q3 ip Cost Of Products Sold And Other Nonoperating Income Expense
CostOfProductsSoldAndOtherNonoperatingIncomeExpense
4793000000 USD
ip Cost Of Products Sold And Other Nonoperating Income Expense
CostOfProductsSoldAndOtherNonoperatingIncomeExpense
14298000000 USD
ip Cost Of Products Sold And Other Nonoperating Income Expense
CostOfProductsSoldAndOtherNonoperatingIncomeExpense
15394000000 USD
CY2012Q3 ip Decrease In Financial Assets From Deconsolidation Of Spe
DecreaseInFinancialAssetsFromDeconsolidationOfSpe
92000000 USD
ip Defined Benefit Plan Estimated Future Employer Cash Contributions In Current Fiscal Year
DefinedBenefitPlanEstimatedFutureEmployerCashContributionsInCurrentFiscalYear
44000000 USD
CY2011Q3 ip Depreciation Amortization And Cost Of Timber Harvested
DepreciationAmortizationAndCostOfTimberHarvested
335000000 USD
ip Depreciation Amortization And Cost Of Timber Harvested
DepreciationAmortizationAndCostOfTimberHarvested
1111000000 USD
CY2012Q3 ip Depreciation Amortization And Cost Of Timber Harvested
DepreciationAmortizationAndCostOfTimberHarvested
383000000 USD
ip Depreciation Amortization And Cost Of Timber Harvested
DepreciationAmortizationAndCostOfTimberHarvested
1011000000 USD
CY2012Q3 ip Estimated Reduction Of Unrecognized Tax Benefits
EstimatedReductionOfUnrecognizedTaxBenefits
855000000 USD
CY2012Q3 ip Estimated Remedial Costs With Probable Liability
EstimatedRemedialCostsWithProbableLiability
95000000 USD
ip Expired Tax Contingency Reserves
ExpiredTaxContingencyReserves
0 USD
ip Expired Tax Contingency Reserves
ExpiredTaxContingencyReserves
15000000 USD
CY2012Q3 ip Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
945000000 USD
CY2011Q4 ip Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
504000000 USD
CY2011Q3 ip Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
IncomeFromEquityMethodInvestmentAndIncomeAttributableToNoncontrollingInterests
-1000000 USD
ip Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
IncomeFromEquityMethodInvestmentAndIncomeAttributableToNoncontrollingInterests
6000000 USD
ip Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
IncomeFromEquityMethodInvestmentAndIncomeAttributableToNoncontrollingInterests
8000000 USD
CY2012Q3 ip Income From Equity Method Investment And Income Attributable To Noncontrolling Interests
IncomeFromEquityMethodInvestmentAndIncomeAttributableToNoncontrollingInterests
0 USD
ip Income Tax Provision Benefit Related To Special Items
IncomeTaxProvisionBenefitRelatedToSpecialItems
81000000 USD
ip Income Tax Provision Benefit Related To Special Items
IncomeTaxProvisionBenefitRelatedToSpecialItems
276000000 USD
ip Income Tax Provision Benefit Related To Special Items And Discontinued Operations
IncomeTaxProvisionBenefitRelatedToSpecialItemsAndDiscontinuedOperations
-276000000 USD
ip Income Tax Provision Benefit Related To Special Items And Discontinued Operations
IncomeTaxProvisionBenefitRelatedToSpecialItemsAndDiscontinuedOperations
-81000000 USD
ip Letters Of Credit Downgrade Period Of Replacement
LettersOfCreditDowngradePeriodOfReplacement
Within 60 days
CY2012Q3 ip Maximum Length Of Time Hedged In Foreign Currency Cash Flow Hedges
MaximumLengthOfTimeHedgedInForeignCurrencyCashFlowHedges
P3Y
ip Restructuring And Other Charges Net Tax Provisions
RestructuringAndOtherChargesNetTaxProvisions
-266000000 USD
ip Restructuring And Other Charges Net Tax Provisions
RestructuringAndOtherChargesNetTaxProvisions
-87000000 USD
ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
84000000 USD
CY2011Q3 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
49000000 USD
CY2012Q3 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
33000000 USD
ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
88000000 USD
CY2012Q1 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
34000000 USD
CY2012Q2 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
21000000 USD
CY2011Q2 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
-10000000 USD
CY2011Q1 ip Restructuring And Other Related Charges
RestructuringAndOtherRelatedCharges
45000000 USD
CY2012Q1 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
23000000 USD
CY2011Q3 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
32000000 USD
CY2012Q2 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
13000000 USD
CY2011Q2 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
-7000000 USD
CY2011Q1 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
28000000 USD
CY2012Q3 ip Restructuring And Other Related Charges Net Of Tax
RestructuringAndOtherRelatedChargesNetOfTax
24000000 USD
CY2012Q3 ip Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
41000000 USD
ip Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
114000000 USD
ip Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
155000000 USD
CY2011Q3 ip Segment Reporting Information Corporate Expenses
SegmentReportingInformationCorporateExpenses
34000000 USD
CY2011Q3 ip Segment Reporting Information Restructuring And Other Charges
SegmentReportingInformationRestructuringAndOtherCharges
25000000 USD
CY2012Q3 ip Segment Reporting Information Restructuring And Other Charges
SegmentReportingInformationRestructuringAndOtherCharges
15000000 USD
ip Segment Reporting Information Restructuring And Other Charges
SegmentReportingInformationRestructuringAndOtherCharges
40000000 USD
ip Segment Reporting Information Restructuring And Other Charges
SegmentReportingInformationRestructuringAndOtherCharges
86000000 USD
ip Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Held For Payout In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsSharesHeldForPayoutInPeriod
63745 shares
ip Stock Based Compensation Expense Selling And Administrative
StockBasedCompensationExpenseSellingAndAdministrative
70000000 USD
CY2011Q3 ip Stock Based Compensation Expense Selling And Administrative
StockBasedCompensationExpenseSellingAndAdministrative
20000000 USD
CY2012Q3 ip Stock Based Compensation Expense Selling And Administrative
StockBasedCompensationExpenseSellingAndAdministrative
26000000 USD
ip Stock Based Compensation Expense Selling And Administrative
StockBasedCompensationExpenseSellingAndAdministrative
69000000 USD
ip Tax Adjustment Related To Restructuring
TaxAdjustmentRelatedToRestructuring
0 USD
ip Tax Adjustment Related To Restructuring
TaxAdjustmentRelatedToRestructuring
-3000000 USD
ip Tax Adjustments Related To Acquisitions
TaxAdjustmentsRelatedToAcquisitions
0 USD
ip Tax Adjustments Related To Acquisitions
TaxAdjustmentsRelatedToAcquisitions
-3000000 USD
CY2007Q4 ip Timberland Acreage Sales
TimberlandAcreageSales
1550000 acre
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000051434
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
439145132 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
INTERNATIONAL PAPER CO /NEW/
dei Trading Symbol
TradingSymbol
IP

Files In Submission

Name View Source Status
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