2013 Q4 Form 10-Q Financial Statement

#000120677413003877 Filed on October 31, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $2.047B $2.143B $2.068B
YoY Change -6.5% 3.59% 9.37%
Cost Of Revenue $1.839B $1.906B $1.962B
YoY Change -13.0% -2.86% 0.45%
Gross Profit $207.9M $236.6M $106.1M
YoY Change 175.4% 122.9% -270.12%
Gross Profit Margin 10.16% 11.04% 5.13%
Selling, General & Admin $49.00M $43.80M $41.78M
YoY Change 7.46% 4.82% -18.39%
% of Gross Profit 23.57% 18.51% 39.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.60M $34.30M $32.50M
YoY Change -6.15% 5.54% -39.37%
% of Gross Profit 17.6% 14.5% 30.62%
Operating Expenses $49.00M $43.80M $41.78M
YoY Change 7.69% 4.82% -18.39%
Operating Profit $158.9M $189.1M $61.71M
YoY Change 429.75% 206.48% -154.32%
Interest Expense -$17.80M $20.41M $25.26M
YoY Change -33.08% -19.19% -160.87%
% of Operating Profit -11.2% 10.79% 40.94%
Other Income/Expense, Net $3.600M $8.000K $413.0K
YoY Change 200.0% -98.06% -88.84%
Pretax Income $143.7M $166.6M $43.99M
YoY Change 7085.0% 278.73% -127.0%
Income Tax $0.00 $5.578M $1.049M
% Of Pretax Income 0.0% 3.35% 2.38%
Net Earnings $143.4M $160.9M $42.93M
YoY Change 528.74% 274.83% -126.42%
Net Earnings / Revenue 7.0% 7.51% 2.08%
Basic Earnings Per Share $0.62 $0.17
Diluted Earnings Per Share $552.6K $0.62 $0.17
COMMON SHARES
Basic Shares Outstanding 259.0M shares 258.8M shares 258.7M shares
Diluted Shares Outstanding 259.4M shares 258.8M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $605.1M $330.3M $55.00M
YoY Change 787.24% 500.55% 17.02%
Cash & Equivalents $508.2M $330.3M $55.03M
Short-Term Investments $96.90M $0.00
Other Short-Term Assets $71.10M $98.10M $88.30M
YoY Change -14.34% 11.1% -41.79%
Inventory $808.8M $911.1M $979.2M
Prepaid Expenses
Receivables $365.7M $394.2M $370.0M
Other Receivables $78.20M $83.90M $71.00M
Total Short-Term Assets $1.929B $1.818B $1.564B
YoY Change 25.04% 16.26% 1.69%
LONG-TERM ASSETS
Property, Plant & Equipment $1.152B $1.159B $1.197B
YoY Change -3.2% -3.14% -9.16%
Goodwill
YoY Change
Intangibles $32.53M $33.96M
YoY Change -15.0%
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $40.16M $38.83M $120.0M
YoY Change -11.77% -67.64% 23.46%
Total Long-Term Assets $1.243B $1.292B $1.357B
YoY Change -9.31% -4.79% -7.21%
TOTAL ASSETS
Total Short-Term Assets $1.929B $1.818B $1.564B
Total Long-Term Assets $1.243B $1.292B $1.357B
Total Assets $3.172B $3.109B $2.920B
YoY Change 8.87% 6.48% -2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $370.4M $370.0M $246.2M
YoY Change 18.57% 50.3% -28.14%
Accrued Expenses $283.4M $302.1M $389.5M
YoY Change -0.07% -22.44% 26.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $410.2M $396.0K $15.60M
YoY Change 2482.36% -97.46% 0.0%
Total Short-Term Liabilities $1.083B $759.3M $731.7M
YoY Change 48.37% 3.77% 2.95%
LONG-TERM LIABILITIES
Long-Term Debt $502.0M $912.0M $1.151B
YoY Change -56.3% -20.77% -23.71%
Other Long-Term Liabilities $80.46M $84.57M $144.7M
YoY Change -36.05% -41.56% 29.89%
Total Long-Term Liabilities $582.5M $996.6M $1.296B
YoY Change -54.31% -23.09% -20.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.083B $759.3M $731.7M
Total Long-Term Liabilities $582.5M $996.6M $1.296B
Total Liabilities $1.680B $1.756B $2.031B
YoY Change -16.21% -13.53% -13.16%
SHAREHOLDERS EQUITY
Retained Earnings -$120.2M -$263.5M
YoY Change -82.06%
Common Stock $2.590M $2.590M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.490B $1.351B $889.7M
YoY Change
Total Liabilities & Shareholders Equity $3.172B $3.109B $2.920B
YoY Change 8.87% 6.48% -2.65%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $143.4M $160.9M $42.93M
YoY Change 528.74% 274.83% -126.42%
Depreciation, Depletion And Amortization $36.60M $34.30M $32.50M
YoY Change -6.15% 5.54% -39.37%
Cash From Operating Activities $281.8M $285.8M $75.70M
YoY Change 546.33% 277.54% 607.48%
INVESTING ACTIVITIES
Capital Expenditures -$39.90M -$27.30M -$24.50M
YoY Change 41.49% 11.43% 31.02%
Acquisitions
YoY Change
Other Investing Activities -$68.90M $400.0K $16.80M
YoY Change -9942.86% -97.62% 24.44%
Cash From Investing Activities -$108.8M -$26.90M -$7.700M
YoY Change 295.64% 249.35% 45.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.500M -5.000M -63.60M
YoY Change -457.14% -92.14% -705.71%
NET CHANGE
Cash From Operating Activities 281.8M 285.8M 75.70M
Cash From Investing Activities -108.8M -26.90M -7.700M
Cash From Financing Activities 7.500M -5.000M -63.60M
Net Change In Cash 180.5M 253.9M 4.400M
YoY Change 1189.29% 5670.45% -72.33%
FREE CASH FLOW
Cash From Operating Activities $281.8M $285.8M $75.70M
Capital Expenditures -$39.90M -$27.30M -$24.50M
Free Cash Flow $321.7M $313.1M $100.2M
YoY Change 348.05% 212.48% 240.82%

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us-gaap Gain Loss On Sale Of Other Assets
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us-gaap Gain Loss On Sale Of Other Assets
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us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Gross Profit
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CY2013Q3 us-gaap Intangible Assets Net Excluding Goodwill
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2004872000 USD
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10000 USD
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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230000 USD
CY2013Q3 us-gaap Number Of States In Which Entity Operates
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12 pure
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CY2012Q3 us-gaap Operating Income Loss
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61706000 USD
us-gaap Operating Income Loss
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501005000 USD
us-gaap Operating Income Loss
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222891000 USD
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CY2012Q3 us-gaap Other Asset Impairment Charges
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us-gaap Other Asset Impairment Charges
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3095000 USD
us-gaap Other Asset Impairment Charges
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CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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36114000 USD
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0 USD
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36114000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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CY2012Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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0 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
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84566000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
125825000 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-8000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
413000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-730000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-272000 USD
CY2013Q3 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
12827000 USD
CY2012Q4 us-gaap Other Receivables Gross Current
OtherReceivablesGrossCurrent
6892000 USD
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OtherRestructuringCosts
563000 USD
CY2012Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
2647000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
1527000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
4070000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
-808000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
-291000 USD
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5006000 USD
us-gaap Payments Of Loan Costs
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
162000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
76293000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
62110000 USD
CY2013Q3 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
3300000 USD
us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
6400000 USD
CY2013Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1900000 USD
CY2012Q3 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
2000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
5700000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
6000000 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
72825000 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
56047000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="text-align: justify"><strong style="font-family: Times New Roman; font-size: 80%">Reclassifications</strong></p> <p style="font-family: Times New Roman; font-size: 80%; text-align: justify"> <font style="font-family: Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;</font> We have made certain reclassifications to the 2012 Consolidated Financial Statements with no impact to reported net income in order to conform to the 2013 presentation.</p> <!--EndFragment--></div> </div>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
198282000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3330000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
28687000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
505600000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
595800000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
688000 USD
CY2013Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
400000 USD
CY2012Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
16200000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
161024000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
42941000 USD
us-gaap Profit Loss
ProfitLoss
406043000 USD
us-gaap Profit Loss
ProfitLoss
151692000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2790649000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2749580000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1159358000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1189921000 USD
CY2013Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
407002000 USD
CY2012Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
384930000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
758283000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
853008000 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
50000000 USD
us-gaap Restructuring And Related Cost Expected Cost
RestructuringAndRelatedCostExpectedCost
76258000 USD
CY2013Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
3658000 USD
CY2012Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2798000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
74801000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
6150000 USD
us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
2890 pure
CY2013Q3 us-gaap Restructuring Reserve
RestructuringReserve
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CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
808000 USD
CY2012Q3 us-gaap Restructuring Reserve
RestructuringReserve
821000 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
883000 USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
USD
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
78000 USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
151000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-263507000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-669711000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2142815000 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
2068478000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
6363863000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
5931720000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
43797000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
41782000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
131888000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
131477000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2415000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
465000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
1351104000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
906371000 USD
CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1353569000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
908997000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
892716000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
558430000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
198281000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
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us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
3000 USD
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
560000 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
111000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
341000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
98000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
259386000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
258837000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
259166000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
247103000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
258826000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
258726000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
258825000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
247005000 shares

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0001206774-13-003877.txt Edgar Link pending
0001206774-13-003877-xbrl.zip Edgar Link pending
exhibit12.htm Edgar Link pending
exhibit31-1.htm Edgar Link pending
exhibit31-2.htm Edgar Link pending
exhibit32-1.htm Edgar Link pending
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Financial_Report.xls Edgar Link pending
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