2016 Form 10-K Financial Statement

#000010049316000281 Filed on November 21, 2016

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q2
Revenue $36.88B $10.51B $10.07B
YoY Change -10.86% -2.88% 4.02%
Cost Of Revenue $32.18B $9.520B $9.085B
YoY Change -14.08% -3.46% 0.44%
Gross Profit $4.697B $986.0M $986.0M
YoY Change 19.91% 3.14% 54.79%
Gross Profit Margin 12.74% 9.39% 9.79%
Selling, General & Admin $1.864B $436.0M $423.0M
YoY Change 6.64% -2.46% 47.9%
% of Gross Profit 39.68% 44.22% 42.9%
Research & Development $96.00M
YoY Change 28.0%
% of Gross Profit 2.04%
Depreciation & Amortization $697.0M $187.0M $177.0M
YoY Change -0.57% 6.86% 38.28%
% of Gross Profit 14.84% 18.97% 17.95%
Operating Expenses $1.960B $436.0M $423.0M
YoY Change 7.52% -2.46% 47.9%
Operating Profit $2.833B $550.0M $563.0M
YoY Change 30.61% 8.06% 60.4%
Interest Expense -$245.0M -$69.00M -$70.00M
YoY Change -13.73% -8.0% 191.67%
% of Operating Profit -8.65% -12.55% -12.43%
Other Income/Expense, Net -$235.0M $4.000M -$45.00M
YoY Change -5.24% -105.41% 9.76%
Pretax Income $2.598B $485.0M $518.0M
YoY Change 35.24% 11.49% 67.1%
Income Tax $826.0M $226.0M $174.0M
% Of Pretax Income 31.79% 46.6% 33.59%
Net Earnings $1.768B $258.0M $343.0M
YoY Change 44.92% -16.5% 31.92%
Net Earnings / Revenue 4.79% 2.46% 3.41%
Basic Earnings Per Share
Diluted Earnings Per Share $4.53 $629.3K $0.83
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 390.0M shares 414.0M shares

Balance Sheet

Concept 2016 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $349.0M $688.0M $471.0M
YoY Change -49.27% 80.58% -19.76%
Cash & Equivalents $349.0M $688.0M $471.0M
Short-Term Investments
Other Short-Term Assets $265.0M $195.0M $214.0M
YoY Change 35.9% -48.0% -11.2%
Inventory $2.732B $2.878B $3.082B
Prepaid Expenses
Receivables $1.542B $1.620B $1.633B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.888B $5.381B $5.589B
YoY Change -9.16% -9.38% 1.38%
LONG-TERM ASSETS
Property, Plant & Equipment $5.170B $5.176B $5.312B
YoY Change -0.12% -0.67% 34.79%
Goodwill $6.667B $6.690B
YoY Change -0.49% 247.53%
Intangibles $5.168B $5.202B
YoY Change -1.49% 3345.03%
Long-Term Investments
YoY Change
Other Assets $562.0M $577.0M $650.0M
YoY Change -8.17% -12.97% 23.81%
Total Long-Term Assets $17.49B $17.59B $17.85B
YoY Change -0.78% -1.3% 172.91%
TOTAL ASSETS
Total Short-Term Assets $4.888B $5.381B $5.589B
Total Long-Term Assets $17.49B $17.59B $17.85B
Total Assets $22.37B $22.97B $23.44B
YoY Change -2.74% -3.32% 94.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.511B $1.662B $1.621B
YoY Change -9.09% -22.59% 8.36%
Accrued Expenses $563.0M $478.0M $461.0M
YoY Change 17.78% 36.96% 17.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $79.00M $715.0M $1.205B
YoY Change -88.95% 19.97% 2839.02%
Total Short-Term Liabilities $2.762B $3.535B $4.028B
YoY Change -21.87% -10.6% 54.21%
LONG-TERM LIABILITIES
Long-Term Debt $6.200B $6.010B $6.029B
YoY Change 3.16% -13.29% 237.95%
Other Long-Term Liabilities $1.242B $1.304B $1.256B
YoY Change -4.75% 3.25% 130.46%
Total Long-Term Liabilities $7.442B $1.304B $1.256B
YoY Change 1.75% 3.25% 130.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.762B $3.535B $4.028B
Total Long-Term Liabilities $7.442B $1.304B $1.256B
Total Liabilities $12.77B $4.839B $5.284B
YoY Change -4.12% -7.25% 67.37%
SHAREHOLDERS EQUITY
Retained Earnings $6.813B $6.591B
YoY Change 13.34% 16.86%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.381B $1.112B
YoY Change 28.94% 9.99%
Treasury Stock Shares 47.00M shares 41.00M shares
Shareholders Equity $9.608B $9.691B $9.667B
YoY Change
Total Liabilities & Shareholders Equity $22.37B $22.97B $23.44B
YoY Change -2.74% -3.32% 94.47%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income $1.768B $258.0M $343.0M
YoY Change 44.92% -16.5% 31.92%
Depreciation, Depletion And Amortization $697.0M $187.0M $177.0M
YoY Change -0.57% 6.86% 38.28%
Cash From Operating Activities $2.716B $898.0M $864.0M
YoY Change 5.68% 10.59% 210.79%
INVESTING ACTIVITIES
Capital Expenditures $695.0M -$218.0M -$201.0M
YoY Change -18.62% -194.37% 39.58%
Acquisitions $0.00
YoY Change
Other Investing Activities -$20.00M $374.0M $66.00M
YoY Change -35.48% -12566.67% 73.68%
Cash From Investing Activities -$684.0M $156.0M -$135.0M
YoY Change 153.33% -275.28% 27.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.944B
YoY Change 292.73%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.377B -832.0M -482.0M
YoY Change 16.81% 7.35% 2195.24%
NET CHANGE
Cash From Operating Activities $2.716B 898.0M 864.0M
Cash From Investing Activities -$684.0M 156.0M -135.0M
Cash From Financing Activities -$2.377B -832.0M -482.0M
Net Change In Cash -$345.0M 222.0M 247.0M
YoY Change -230.19% -526.92% 63.58%
FREE CASH FLOW
Cash From Operating Activities $2.716B $898.0M $864.0M
Capital Expenditures $695.0M -$218.0M -$201.0M
Free Cash Flow $2.021B $1.116B $1.065B
YoY Change 17.77% 92.08% 152.37%

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CY2016Q4 us-gaap Deferred Tax Liabilities Deferred Expense Reserves And Accruals
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CY2015Q4 us-gaap Deferred Tax Liabilities Noncurrent
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40000000 USD
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67000000 USD
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520000000 USD
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697000000 USD
CY2015Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2016Q4 us-gaap Derivative Collateral Obligation To Return Cash
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CY2015Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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2.37
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us-gaap Earnings Per Share Diluted
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1.03
CY2016 us-gaap Earnings Per Share Diluted
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CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.040
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
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CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2015Q4 us-gaap Employee Related Liabilities Current
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CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
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CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
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CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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0 USD
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
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0 USD
CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
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CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
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CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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20000000 USD
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
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12000000 USD
CY2015 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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26000000 USD
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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271000000 USD
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78000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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72000000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2015 us-gaap Goodwill Translation And Purchase Accounting Adjustments
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us-gaap Gross Profit
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1270000000 USD
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1252000000 USD
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2598000000 USD
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1224000000 USD
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68000000 USD
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50000000 USD
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590000000 USD
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202000000 USD
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4078000000 USD
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132000000 USD
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249000000 USD
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118000000 USD
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308000000 USD
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242000000 USD
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1631000000 USD
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1530000000 USD
CY2015Q4 us-gaap Inventory Net
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2878000000 USD
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2732000000 USD
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6000000 USD
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161000000 USD
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165000000 USD
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172000000 USD
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3535000000 USD
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2762000000 USD
CY2015Q4 us-gaap Line Of Credit
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0 USD
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416000000 USD
CY2016Q4 us-gaap Inventory Supplies Net Of Reserves
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430000000 USD
CY2014 us-gaap Investment Income Interest
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7000000 USD
CY2016Q4 us-gaap Line Of Credit
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300000000 USD
CY2016Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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1250000000.00 USD
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us-gaap Net Income Loss
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us-gaap Operating Income Loss
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0.267
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P6Y1M
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P6Y5M
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46000000 USD
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52000000 USD
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11000000 USD
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UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
78000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
35000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
17000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
11000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
31000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
46000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
37000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
12000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
244000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
205000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fifth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFifthAnniversary
95000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
1817000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
112000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
373000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
166000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
2669000000 USD
CY2016Q4 us-gaap Unrecorded Unconditional Purchase Obligation Due After Five Years
UnrecordedUnconditionalPurchaseObligationDueAfterFiveYears
106000000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
364000000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
413000000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
390000000 shares
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business:</font><font style="font-family:inherit;font-size:10pt;"> Tyson Foods, Inc. (collectively, &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221;), founded in 1935 with world headquarters in Springdale, Arkansas, is one of the world's largest food companies with leading brands such as Tyson&#174;, Jimmy Dean&#174;, Hillshire Farm&#174;, Sara Lee&#174;, Ball Park&#174;, Wright&#174;, Aidells&#174; and State Fair&#174;. We are a recognized market leader in chicken, beef and pork as well as prepared foods, including bacon, breakfast sausage, turkey, lunchmeat, hot dogs, pizza crusts and toppings, tortillas and desserts. </font></div></div>
CY2016 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fiscal Year:</font><font style="font-family:inherit;font-size:10pt;"> We utilize a 52- or 53-week accounting period ending on the Saturday closest to September&#160;30. The Company&#8217;s accounting cycle resulted in a 52-week year for fiscal </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;"> and fiscal 2014 and a 53-week year for fiscal </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

Files In Submission

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