2012 Form 10-K Financial Statement

#000119312513070260 Filed on February 22, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q4 2011 Q3
Revenue $807.3M $180.8M $200.4M
YoY Change 8.64% -3.2% -4.3%
Cost Of Revenue $564.1M $129.3M $140.3M
YoY Change 3.77% 2.29% 0.13%
Gross Profit $243.2M $51.54M $60.12M
YoY Change 21.91% -14.67% -13.25%
Gross Profit Margin 30.13% 28.5% 30.0%
Selling, General & Admin $82.68M $17.60M $17.88M
YoY Change 17.73% 6.02% 10.38%
% of Gross Profit 33.99% 34.15% 29.74%
Research & Development $76.26M $18.70M $19.00M
YoY Change -0.44% -3.11% -17.74%
% of Gross Profit 31.35% 36.28% 31.61%
Depreciation & Amortization $32.07M $8.800M $13.10M
YoY Change -37.4% -37.59% -8.39%
% of Gross Profit 13.18% 17.07% 21.79%
Operating Expenses $158.9M $36.30M $36.88M
YoY Change 8.26% 1.11% -6.39%
Operating Profit $84.32M $15.24M $21.62M
YoY Change 128.02% -37.8% -27.71%
Interest Expense $22.60M $11.20M $5.860M
YoY Change -9.54% -260.0% -82.82%
% of Operating Profit 26.8% 73.5% 27.11%
Other Income/Expense, Net $38.57M -$900.0K -$75.83M
YoY Change -196.03% -25377.67%
Pretax Income $122.9M $25.60M -$54.22M
YoY Change -3957.03% 55.15% -184.71%
Income Tax $12.85M $1.900M $1.793M
% Of Pretax Income 10.45% 7.42%
Net Earnings $110.0M $23.71M -$56.01M
YoY Change -1073.7% 92.72% -191.07%
Net Earnings / Revenue 13.63% 13.11% -27.95%
Basic Earnings Per Share $3.01 $0.61 -$1.43
Diluted Earnings Per Share $2.93 $0.61 -$1.43
COMMON SHARES
Basic Shares Outstanding 36.57M shares 38.63M shares 39.06M shares
Diluted Shares Outstanding 37.53M shares 39.11M shares 39.06M shares

Balance Sheet

Concept 2012 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $182.2M $162.1M $159.5M
YoY Change 12.4% -5.87% -1.18%
Cash & Equivalents $182.2M $162.1M $159.5M
Short-Term Investments
Other Short-Term Assets $20.40M $12.47M $26.20M
YoY Change -25.55% -53.98% -5.42%
Inventory $82.40M $62.68M $69.80M
Prepaid Expenses $6.032M
Receivables $104.7M $102.6M $124.2M
Other Receivables $2.800M $509.0K $1.900M
Total Short-Term Assets $392.6M $355.3M $381.5M
YoY Change 10.5% -8.82% -3.56%
LONG-TERM ASSETS
Property, Plant & Equipment $237.4M $182.7M $180.0M
YoY Change 29.94% 2.05% 2.62%
Goodwill
YoY Change
Intangibles $16.79M
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.50M $15.00M $25.70M
YoY Change 44.31% -49.15% -19.18%
Total Long-Term Assets $288.1M $224.0M $224.4M
YoY Change 28.62% -5.08% -5.99%
TOTAL ASSETS
Total Short-Term Assets $392.6M $355.3M $381.5M
Total Long-Term Assets $288.1M $224.0M $224.4M
Total Assets $680.7M $579.3M $605.9M
YoY Change 17.5% -7.41% -4.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $79.40M $77.88M $75.90M
YoY Change 1.93% 33.58% 5.42%
Accrued Expenses $19.90M $35.47M $37.00M
YoY Change 57.94% 8.8% -22.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $2.900M $4.400M
YoY Change -100.0% -48.21% -15.38%
Total Short-Term Liabilities $154.0M $143.3M $143.6M
YoY Change 7.47% 23.43% 0.14%
LONG-TERM LIABILITIES
Long-Term Debt $201.7M $201.4M $201.3M
YoY Change 0.15% -19.44% -19.83%
Other Long-Term Liabilities $133.6M $8.050M $101.0M
YoY Change 32.94% -91.68% 8.95%
Total Long-Term Liabilities $335.3M $209.4M $302.3M
YoY Change 11.06% -39.61% -12.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $154.0M $143.3M $143.6M
Total Long-Term Liabilities $335.3M $209.4M $302.3M
Total Liabilities $489.2M $445.2M $445.9M
YoY Change 9.88% -3.83% -8.48%
SHAREHOLDERS EQUITY
Retained Earnings $60.05M
YoY Change
Common Stock $99.45M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.79M
YoY Change
Treasury Stock Shares 1.532M shares
Shareholders Equity $191.5M $134.2M $159.9M
YoY Change
Total Liabilities & Shareholders Equity $680.7M $579.3M $605.9M
YoY Change 17.5% -7.41% -4.48%

Cashflow Statement

Concept 2012 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $110.0M $23.71M -$56.01M
YoY Change -1073.7% 92.72% -191.07%
Depreciation, Depletion And Amortization $32.07M $8.800M $13.10M
YoY Change -37.4% -37.59% -8.39%
Cash From Operating Activities $121.1M $18.30M $18.70M
YoY Change 15.85% -26.21% -39.09%
INVESTING ACTIVITIES
Capital Expenditures $58.54M -$5.400M -$16.20M
YoY Change 24.25% -61.43% 72.34%
Acquisitions $8.642M
YoY Change
Other Investing Activities -$118.0K $3.500M -$10.90M
YoY Change -131.81% -3600.0% 10800.0%
Cash From Investing Activities -$63.53M -$1.900M -$27.20M
YoY Change 11.14% -86.52% 189.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $27.16M
YoY Change 1005.54%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.13M -12.80M -13.80M
YoY Change -49.0% 700.0% 666.67%
NET CHANGE
Cash From Operating Activities 121.1M 18.30M 18.70M
Cash From Investing Activities -63.53M -1.900M -27.20M
Cash From Financing Activities -30.13M -12.80M -13.80M
Net Change In Cash 27.44M 3.600M -22.30M
YoY Change -334.5% -60.44% -214.36%
FREE CASH FLOW
Cash From Operating Activities $121.1M $18.30M $18.70M
Capital Expenditures $58.54M -$5.400M -$16.20M
Free Cash Flow $62.57M $23.70M $34.90M
YoY Change 8.96% -38.92% -12.97%

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CY2012Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
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CY2012Q4 us-gaap Operating Loss Carryforwards
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CY2012Q4 mx Warrants To Purchase Common Shares
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CY2012Q4 mx Common Stock Exercise Price Per Share Under Warrant Agreement
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CY2012Q4 mx Warrants To Purchase Common Shares Outstanding
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CY2012Q4 mx Allowance For Doubtful Accounts Receivable Cash Return Reserve
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CY2012Q4 mx Low Yield Compensation Reserve
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CY2011Q1 us-gaap Sale Of Stock Consideration Received On Transaction
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CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2010 us-gaap Research And Development Expense
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CY2010 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2010 us-gaap Interest Paid
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CY2010 us-gaap Share Based Compensation
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CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2010 us-gaap Operating Income Loss
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CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2010 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2010 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2010 us-gaap Deferred Income Tax Expense Benefit
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CY2010 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2010 us-gaap Gross Profit
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CY2010 us-gaap Comprehensive Income Net Of Tax
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CY2010 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2010 us-gaap Current Federal Tax Expense Benefit
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CY2010 us-gaap Income Tax Reconciliation Tax Settlements Foreign
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CY2010 us-gaap Distribution Made To Member Or Limited Partner Cash Distributions Paid
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CY2010 us-gaap Capital Lease Obligations Incurred
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CY2010 us-gaap Revenues
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CY2010 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2010 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2010 us-gaap Income Tax Reconciliation Other Adjustments
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CY2010 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2010 us-gaap Income Tax Expense Benefit
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CY2010 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2010 us-gaap Increase Decrease In Deposits
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CY2010 us-gaap Payments To Acquire Property Plant And Equipment
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CY2010 us-gaap Payments For Restructuring
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
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CY2010 us-gaap Current Income Tax Expense Benefit
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2010 us-gaap Current Foreign Tax Expense Benefit
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CY2010 us-gaap Income Taxes Paid Net
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CY2010 us-gaap Payments For Proceeds From Other Investing Activities
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CY2010 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2010 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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CY2010 us-gaap Increase Decrease In Other Receivables
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CY2010 us-gaap Lease And Rental Expense
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CY2010 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2010 us-gaap Severance Costs
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CY2010 us-gaap Increase Decrease In Accrued Liabilities
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CY2010 us-gaap Interest Expense
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CY2010 us-gaap Increase Decrease In Accounts Payable
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2010 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
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10000
CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2010 us-gaap Cost Of Revenue
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4096000
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1944000
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CY2011 us-gaap Revenues
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1642000
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CY2011 mx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Grant Date Fair Value Per Share
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CY2012 dei Document Fiscal Period Focus
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CY2012 dei Entity Voluntary Filers
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CY2011 mx Termination Benefits Cost
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CY2011 mx Preferred Stock Inducement Repurchase And Redemption Premiums
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CY2011 mx Deferred Offering Costs Reclassified As Reduction Of Additional Paid In Capital
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CY2011 mx Net Cash Provided By Operating Activities Before Reorganization Items
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CY2011 mx Initial Public Offering Incentive
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CY2011 mx Increasedecrease In Net Incomeloss
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CY2011 mx Increasedecrease In Net Incomeloss Per Unit
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1582000
CY2011 mx Increase Decrease In Cost Of Sales
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4800000
CY2011 mx Legal Fees Incurred
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299000
CY2012 dei Document Type
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10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
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0001325702
CY2012 dei Entity Well Known Seasoned Issuer
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No
CY2012 dei Current Fiscal Year End Date
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--12-31
CY2012 dei Trading Symbol
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MX
CY2012 dei Entity Registrant Name
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MAGNACHIP SEMICONDUCTOR Corp
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Yes
CY2012 dei Amendment Flag
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false
CY2012 dei Entity Filer Category
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Accelerated Filer
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P7Y10M24D
CY2012 us-gaap Increase Decrease In Deferred Income Taxes
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62743000
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Concentration of Credit Risk</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company performs periodic credit evaluations of its customers&#x2019; financial condition and generally does not require collateral for customers on accounts receivable. The Company maintains reserves for potential credit losses, but historically has not experienced significant losses related to individual customers or groups of customers in any particular industry or geographic area.</font></p> </div>
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2012 us-gaap Research And Development Expense
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P7Y
CY2012 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
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4788000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P2Y10M24D
CY2012 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
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P12M
CY2012 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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5057000
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7534000
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CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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8.29
CY2012 us-gaap Stock Repurchased During Period Value
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