2018 Q4 Form 10-K Financial Statement

#000162828019003050 Filed on March 18, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $5.801B $3.008B $3.044B
YoY Change 96.44% 2.94% 7.41%
Cost Of Revenue $3.970B $1.714B $1.723B
YoY Change 139.01% 3.75% 7.75%
Gross Profit $1.831B $1.294B $1.321B
YoY Change 41.72% 1.89% 6.96%
Gross Profit Margin 31.56% 43.02% 43.4%
Selling, General & Admin $718.0M $294.0M $307.0M
YoY Change 130.13% -2.0% 0.66%
% of Gross Profit 39.21% 22.72% 23.24%
Research & Development $42.00M $23.00M $24.00M
YoY Change 75.0% 0.0% 4.35%
% of Gross Profit 2.29% 1.78% 1.82%
Depreciation & Amortization $902.0M $306.0M $311.0M
YoY Change 193.81% 2.68% 6.51%
% of Gross Profit 49.26% 23.65% 23.54%
Operating Expenses $1.662B $317.0M $331.0M
YoY Change 161.73% -49.12% -46.18%
Operating Profit $3.236B $669.0M $689.0M
YoY Change 406.42% 5.85% 13.7%
Interest Expense -$79.00M -$37.00M -$43.00M
YoY Change 88.1% -11.9% 16.22%
% of Operating Profit -2.44% -5.53% -6.24%
Other Income/Expense, Net $14.00M $4.554M -$2.000M
YoY Change 1139.84% 1465.86% -532.3%
Pretax Income $3.178B $623.0M $643.0M
YoY Change 434.12% 6.5% 13.6%
Income Tax $45.00M $156.0M $158.0M
% Of Pretax Income 1.42% 25.04% 24.57%
Net Earnings $2.978B $461.0M $480.0M
YoY Change 8924.24% 10.02% 18.23%
Net Earnings / Revenue 51.34% 15.33% 15.77%
Basic Earnings Per Share $1.60 $1.67
Diluted Earnings Per Share $6.436M $1.58 $1.65
COMMON SHARES
Basic Shares Outstanding 457.5M shares 288.1M shares 287.8M shares
Diluted Shares Outstanding 461.2M shares 291.5M shares 290.9M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.466B $600.0M $479.0M
YoY Change 623.82% -1.15% -10.47%
Cash & Equivalents $4.466B $104.9K $479.0M
Short-Term Investments
Other Short-Term Assets $1.077B $8.825M $202.0M
YoY Change 213.08% -1.78% -10.22%
Inventory $1.651B $622.0M $606.0M
Prepaid Expenses $533.0M
Receivables $4.297B $1.852B $1.877B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $17.27B $3.305B $3.164B
YoY Change 425.78% 1.91% 1.44%
LONG-TERM ASSETS
Property, Plant & Equipment $29.72B $11.73B $11.70B
YoY Change 151.31% -2.23% -0.89%
Goodwill $26.87B
YoY Change 731.24%
Intangibles $16.22B
YoY Change 1966.62%
Long-Term Investments $1.838B
YoY Change 152.82%
Other Assets $1.462B $0.00 $1.246B
YoY Change 151.64% -100.0% -3.41%
Total Long-Term Assets $76.11B -$3.296B $16.67B
YoY Change 343.79% 1.92% -1.03%
TOTAL ASSETS
Total Short-Term Assets $17.27B $3.305B $3.164B
Total Long-Term Assets $76.11B -$3.296B $16.67B
Total Assets $93.39B $8.930M $19.84B
YoY Change 356.97% -1.52% -0.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.219B $978.0M $967.0M
YoY Change 249.13% 3.27% 7.44%
Accrued Expenses $6.165M
YoY Change 891.04%
Deferred Revenue $1.546B
YoY Change
Short-Term Debt $1.485B $115.0M $250.0M
YoY Change 523.95% 36.9% -10.71%
Long-Term Debt Due $1.523B $1.582B $979.0M
YoY Change 55.57% 73.85% 7.58%
Total Short-Term Liabilities $12.96B $3.860B $3.279B
YoY Change 291.78% 32.1% 7.76%
LONG-TERM LIABILITIES
Long-Term Debt $12.29B $6.615B $7.229B
YoY Change 57.88% -19.75% -11.59%
Other Long-Term Liabilities $3.435B $2.754B $2.786B
YoY Change 116.31% 11.59% 12.57%
Total Long-Term Liabilities $15.72B $9.369B $10.02B
YoY Change 67.78% -12.53% -5.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.96B $3.860B $3.279B
Total Long-Term Liabilities $15.72B $9.369B $10.02B
Total Liabilities $36.29B $13.75B $13.81B
YoY Change 160.82% -2.63% -2.47%
SHAREHOLDERS EQUITY
Retained Earnings $16.53B -$11.28M
YoY Change 24.99% 1397.04%
Common Stock $1.000M $26.83K
YoY Change -75.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $629.0M
YoY Change -91.26%
Treasury Stock Shares 4.069M shares 0.000 shares
Shareholders Equity $51.60B -$11.15M $6.027B
YoY Change
Total Liabilities & Shareholders Equity $93.39B $8.930M $19.84B
YoY Change 356.97% -1.52% -0.65%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $2.978B $461.0M $480.0M
YoY Change 8924.24% 10.02% 18.23%
Depreciation, Depletion And Amortization $902.0M $306.0M $311.0M
YoY Change 193.81% 2.68% 6.51%
Cash From Operating Activities $1.353B $871.0M $790.0M
YoY Change 61.84% 9.7% 12.7%
INVESTING ACTIVITIES
Capital Expenditures -$827.0M -$380.0M -$351.0M
YoY Change 143.95% 18.75% 8.0%
Acquisitions
YoY Change
Other Investing Activities $7.152B $2.000M $62.00M
YoY Change -102271.43% -118.18% 416.67%
Cash From Investing Activities $6.325B -$378.0M -$289.0M
YoY Change -1928.03% 14.2% -7.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.694B -357.0M -516.0M
YoY Change 680.97% -11.41% 34.38%
NET CHANGE
Cash From Operating Activities 1.353B 871.0M 790.0M
Cash From Investing Activities 6.325B -378.0M -289.0M
Cash From Financing Activities -3.694B -357.0M -516.0M
Net Change In Cash 3.984B 136.0M -15.00M
YoY Change 23335.29% 126.67% -475.0%
FREE CASH FLOW
Cash From Operating Activities $1.353B $871.0M $790.0M
Capital Expenditures -$827.0M -$380.0M -$351.0M
Free Cash Flow $2.180B $1.251B $1.141B
YoY Change 85.53% 12.3% 11.21%

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292000000 USD
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1830000000 USD
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0.33
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0.11
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0 USD
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5.25
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1.36
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1.42
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1.46
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0.11
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4.36
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13.26
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5.21
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1.35
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1.41
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1.45
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4.32
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13.11
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17000000 USD
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22000000 USD
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0.269
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0.449
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0.162
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0.350
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0.350
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0.000
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0.000
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0.000
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-0.064
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-0.068
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-0.063
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0.011
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-0.010
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-0.015
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-0.004
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-0.001
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0.003
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0.017
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0.014
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0.014
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0.006
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0.016
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0.012
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0.002
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32000000 USD
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53000000 USD
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30000000 USD
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12000000 USD
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30000000 USD
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P26Y
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790000000 USD
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830000000 USD
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33000000 USD
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136000000 USD
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41000000 USD
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1000000 USD
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4000000 USD
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3294000000 USD
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16000000 USD
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4000000 USD
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92000000 USD
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98000000 USD
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12000000 USD
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620000000 USD
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38000000 USD
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61000000 USD
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15000000 USD
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954000000 USD
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1003000000 USD
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1094000000 USD
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1284000000 USD
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4118000000 USD
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2048000000 USD
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2287000000 USD
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5049000000 USD
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1538000000 USD
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1308000000 USD
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4288000000 USD
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5.25
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4.36
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1.61
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1.67
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1.60
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6.27
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12.93
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0.04
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0.06
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5.21
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32000000 USD
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27000000 USD
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12000000 USD
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585000000 USD
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1.59
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1.65
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1.58
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4.32
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6.22
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12.79
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0 USD
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0 USD
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117000000 USD
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0 USD
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0 USD
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9000000 USD
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0 USD
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0 USD
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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0 USD
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0 USD
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108000000 USD
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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108000000 USD
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0.00
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0.00
CY2018Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2018Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2018Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2018Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.23
CY2018 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.32
CY2016 us-gaap Income Loss From Equity Method Investments
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41000000 USD
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IncomeLossFromEquityMethodInvestments
47000000 USD
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56000000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
551000000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1026000000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
817000000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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163000000 USD
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39000000 USD
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260000000 USD
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76000000 USD
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221000000 USD
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27000000 USD
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1000000 USD
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0 USD
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CY2018 us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;"> &#8211; Certain prior years&#8217; amounts have been reclassified to conform to the current year&#8217;s presentation, including reclassifications on the consolidated statements of income and segment operating profit relating to the adoption of accounting guidance on the presentation of net periodic pension and postretirement benefit costs.</font></div><div style="line-height:120%;padding-bottom:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a result of the merger, certain reclassifications of prior period amounts were made to improve comparability and conform with the current presentation. Presentation changes were made to the consolidated balance sheets. In addition, certain reclassifications of prior period data were made in the Notes to the Consolidated Financial Statements to conform with the current period presentation. These reclassifications include: (i) the reclassification of capitalized software from property plant and equipment - net to other intangibles - net (see Note 10), and (ii) the reclassification of VAT receivables and VAT payables from accounts receivable and accounts payable, respectively, to other current assets and other current liabilities, respectively, (see Note 9). </font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font></div></div>
CY2018 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#8211;</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. While actual results could differ, management believes such estimates to be reasonable.</font></div></div>

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