2016 Q4 Form 10-K Financial Statement

#000150630717000008 Filed on February 10, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2015 Q4 2014 Q4
Revenue $3.389B $3.636B $3.951B
YoY Change -6.79% -7.97% 2.04%
Cost Of Revenue $1.603B $1.464B $1.960B
YoY Change 9.49% -25.31% -2.92%
Gross Profit $1.786B $2.172B $1.991B
YoY Change -17.77% 9.09% 7.45%
Gross Profit Margin 52.7% 59.74% 50.39%
Selling, General & Admin $216.0M $250.0M $241.0M
YoY Change -13.6% 3.73% 3.88%
% of Gross Profit 12.09% 11.51% 12.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $557.0M $584.0M $522.0M
YoY Change -4.62% 11.88% 8.98%
% of Gross Profit 31.19% 26.89% 26.22%
Operating Expenses $772.0M $836.0M $763.0M
YoY Change -7.66% 9.57% 10.1%
Operating Profit $1.014B $1.336B $1.228B
YoY Change -24.1% 8.79% 5.86%
Interest Expense -$268.0M -$443.0M -$378.0M
YoY Change -39.5% 17.2% -4.3%
% of Operating Profit -26.43% -33.16% -30.78%
Other Income/Expense, Net -$12.00M -$2.000M $12.00M
YoY Change 500.0% -116.67% 50.0%
Pretax Income $388.0M -$693.0M $590.0M
YoY Change -155.99% -217.46% -23.67%
Income Tax $173.0M $43.00M $24.00M
% Of Pretax Income 44.59% 4.07%
Net Earnings $209.0M -$695.0M $126.0M
YoY Change -130.07% -651.59% -62.72%
Net Earnings / Revenue 6.17% -19.11% 3.19%
Basic Earnings Per Share
Diluted Earnings Per Share $93.60K -$311.8K $86.07K
COMMON SHARES
Basic Shares Outstanding 2.232B shares 2.232B shares 1.028B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $684.0M $229.0M $315.0M
YoY Change 198.69% -27.3% -34.65%
Cash & Equivalents $684.0M $229.0M $315.0M
Short-Term Investments $0.36
Other Short-Term Assets $337.0M $266.0M $746.0M
YoY Change 26.69% -64.34% 71.1%
Inventory $357.0M $407.0M $459.0M
Prepaid Expenses
Receivables $1.370B $1.315B $1.641B
Other Receivables $180.0M $0.00 $0.00
Total Short-Term Assets $3.229B $2.824B $3.752B
YoY Change 14.34% -24.73% -3.0%
LONG-TERM ASSETS
Property, Plant & Equipment $38.71B $40.55B $38.56B
YoY Change -4.54% 5.14% 7.58%
Goodwill $22.15B $23.79B $24.65B
YoY Change -6.89% -3.5% 0.61%
Intangibles $3.318B $3.551B $2.302B
YoY Change -6.56% 54.26% -5.58%
Long-Term Investments $7.027B $6.032B $6.028B
YoY Change 16.5% 0.07% 1.43%
Other Assets $1.522B $2.029B $2.090B
YoY Change -24.99% -2.92% -18.9%
Total Long-Term Assets $77.08B $81.28B $79.30B
YoY Change -5.17% 2.5% 11.19%
TOTAL ASSETS
Total Short-Term Assets $3.229B $2.824B $3.752B
Total Long-Term Assets $77.08B $81.28B $79.30B
Total Assets $80.31B $84.10B $83.05B
YoY Change -4.52% 1.27% 10.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.257B $1.192B $1.588B
YoY Change 5.45% -24.94% -5.25%
Accrued Expenses $886.0M $993.0M $1.020B
YoY Change -10.78% -2.65% -11.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.696B $1.000B $2.717B
YoY Change 169.6% -63.19% 17.82%
Total Short-Term Liabilities $5.924B $4.065B $6.362B
YoY Change 45.73% -36.1% 4.72%
LONG-TERM LIABILITIES
Long-Term Debt $37.35B $42.41B $40.10B
YoY Change -11.91% 5.76% 18.33%
Other Long-Term Liabilities $2.225B $2.230B $2.164B
YoY Change -0.22% 3.05% -5.38%
Total Long-Term Liabilities $39.58B $44.64B $42.26B
YoY Change -11.33% 5.62% 3.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.924B $4.065B $6.362B
Total Long-Term Liabilities $39.58B $44.64B $42.26B
Total Liabilities $45.50B $48.70B $48.62B
YoY Change -6.57% 0.16% 3.67%
SHAREHOLDERS EQUITY
Retained Earnings -$6.669B -$6.103B -$2.106B
YoY Change 9.27% 189.79% 53.5%
Common Stock $22.00M $22.00M $21.00M
YoY Change 0.0% 4.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $34.43B $35.12B $34.08B
YoY Change
Total Liabilities & Shareholders Equity $80.31B $84.10B $83.05B
YoY Change -4.52% 1.27% 10.46%

Cashflow Statement

Concept 2016 Q4 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $209.0M -$695.0M $126.0M
YoY Change -130.07% -651.59% -62.72%
Depreciation, Depletion And Amortization $557.0M $584.0M $522.0M
YoY Change -4.62% 11.88% 8.98%
Cash From Operating Activities $1.255B $1.806B $975.0M
YoY Change -30.51% 85.23% -26.69%
INVESTING ACTIVITIES
Capital Expenditures -$773.0M -$897.0M -$939.0M
YoY Change -13.82% -4.47% -14.56%
Acquisitions
YoY Change
Other Investing Activities $195.0M -$87.00M -$251.0M
YoY Change -324.14% -65.34% -936.67%
Cash From Investing Activities -$578.0M -$984.0M -$1.190B
YoY Change -41.26% -17.31% 11.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -305.0M -769.0M 60.00M
YoY Change -60.34% -1381.67% -112.77%
NET CHANGE
Cash From Operating Activities 1.255B 1.806B 975.0M
Cash From Investing Activities -578.0M -984.0M -1.190B
Cash From Financing Activities -305.0M -769.0M 60.00M
Net Change In Cash 372.0M 53.00M -155.0M
YoY Change 601.89% -134.19% -25.84%
FREE CASH FLOW
Cash From Operating Activities $1.255B $1.806B $975.0M
Capital Expenditures -$773.0M -$897.0M -$939.0M
Free Cash Flow $2.028B $2.703B $1.914B
YoY Change -24.97% 41.22% -21.2%

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P22Y
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CY2014 kmi Stockand Warrants Repurchased During Period Value
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CY2014 kmi Stockand Warrants Repurchasedand Retired During Period Shares
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CY2016Q4 kmi Total Debt Outstanding
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CY2016 kmi Unallocable Interest Expense Net Of Interest Income
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1806000000 USD
CY2016Q4 kmi Unrecognizedtaxbenefitsbalancereasonablypossiblenextyear
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124000000 USD
CY2016Q4 kmi Value Of Preferred Securities Value Assigned To Debt
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199000000 USD
CY2016Q4 kmi Warrant Repurchase Program Remaining Authorized Repurchase Amount
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90000000 USD
CY2014 kmi Warrants Exercised Numberof Warrants
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18040 shares
CY2015 kmi Warrants Exercised Numberof Warrants
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71268 shares
CY2016 kmi Warrants Exercised Numberof Warrants
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0 shares
CY2015Q4 us-gaap Accounts Payable Current
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CY2016Q4 us-gaap Accounts Payable Current
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CY2016Q4 us-gaap Accounts Receivable Net Current
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CY2015Q4 us-gaap Accrual For Environmental Loss Contingencies
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CY2016Q4 us-gaap Accrual For Environmental Loss Contingencies
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CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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219000000 USD
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
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CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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23000000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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236000000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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358000000 USD
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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P17Y
CY2015Q4 us-gaap Additional Paid In Capital
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CY2016Q4 us-gaap Additional Paid In Capital
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CY2015 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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CY2016 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable
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221000000 USD
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P16Y
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CY2016Q4 us-gaap Assets Current
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CY2016Q4 us-gaap Commitments And Contingencies
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2230000000 shares
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1
CY2015Q4 us-gaap Debt Instrument Fair Value
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CY2016Q4 us-gaap Debt Weighted Average Interest Rate
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44000000 USD
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CY2016Q4 us-gaap Derivative Assets Current
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1760000000 USD
CY2015 us-gaap Dividends Common Stock Cash
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156000000 USD
CY2014 us-gaap Earnings Per Share Basic
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0.89
CY2015 us-gaap Earnings Per Share Basic
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CY2016 us-gaap Earnings Per Share Basic
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0.25
CY2014 us-gaap Earnings Per Share Diluted
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CY2015 us-gaap Earnings Per Share Diluted
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0.10
CY2016 us-gaap Earnings Per Share Diluted
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0.25
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2016 us-gaap Effective Income Tax Rate Continuing Operations
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CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
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0.020
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0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.021
CY2014 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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0.016
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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0.066
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Dividends
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0.029
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.417
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.185
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0.009
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.008
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.011
CY2014 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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0.013
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0.035
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0.017
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.012
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0.015
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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0.016
CY2014 us-gaap Equity Method Investment Dividends Or Distributions
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381000000 USD
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391000000 USD
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431000000 USD
CY2014 us-gaap Equity Method Investment Other Than Temporary Impairment
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0 USD
CY2015 us-gaap Equity Method Investment Other Than Temporary Impairment
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30000000 USD
CY2016 us-gaap Equity Method Investment Other Than Temporary Impairment
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610000000 USD
CY2014 us-gaap Equity Method Investment Summarized Financial Information Cost Of Sales
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
7000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
5000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
14000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
9000000 USD
CY2016 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
32000000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1137000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2193000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2230000000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1137000000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2187000000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2230000000 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts included in or affecting our financial statements and related disclosures must be estimated, requiring us to make certain assumptions with respect to values or conditions which cannot be known with certainty at the time our financial statements are prepared. These estimates and assumptions affect the amounts we report for assets and liabilities, our revenues and expenses during the reporting period, and our disclosures, including as it relates to contingent assets and liabilities at the date of our financial statements. We evaluate these estimates on an ongoing basis, utilizing historical experience, consultation with experts and other methods we consider reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from our estimates. Any effects on our business, financial position or results of operations resulting from revisions to these estimates are recorded in the period in which the facts that give rise to the revision become known.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain accounting policies are of more significance in our financial statement preparation process than others, and set out below are the principal accounting policies we apply in the preparation of our consolidated financial statements.</font></div></div>

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