2018 Q2 Form 10-Q Financial Statement

#000100865418000023 Filed on July 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q2
Revenue $535.4M
YoY Change -3.5%
Cost Of Revenue $173.5M
YoY Change -2.36%
Gross Profit $361.9M
YoY Change -4.03%
Gross Profit Margin 67.59%
Selling, General & Admin $272.8M
YoY Change -8.43%
% of Gross Profit 75.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $272.8M
YoY Change -8.43%
Operating Profit $99.40M
YoY Change 29.09%
Interest Expense $11.90M
YoY Change 2.59%
% of Operating Profit 11.97%
Other Income/Expense, Net $400.0K
YoY Change -123.53%
Pretax Income $88.60M
YoY Change 38.01%
Income Tax $24.80M
% Of Pretax Income 27.99%
Net Earnings $63.80M
YoY Change 34.6%
Net Earnings / Revenue 11.92%
Basic Earnings Per Share $1.26
Diluted Earnings Per Share $1.26
COMMON SHARES
Basic Shares Outstanding 50.50M shares
Diluted Shares Outstanding 50.70M shares

Balance Sheet

Concept 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $98.00M
YoY Change -0.41%
Cash & Equivalents $98.00M
Short-Term Investments
Other Short-Term Assets $57.30M
YoY Change 18.14%
Inventory $281.6M
Prepaid Expenses
Receivables $163.3M
Other Receivables $30.90M
Total Short-Term Assets $631.1M
YoY Change 4.71%
LONG-TERM ASSETS
Property, Plant & Equipment $271.5M
YoY Change 0.89%
Goodwill $76.90M
YoY Change -45.69%
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $46.60M
YoY Change 39.94%
Total Long-Term Assets $707.0M
YoY Change -34.23%
TOTAL ASSETS
Total Short-Term Assets $631.1M
Total Long-Term Assets $707.0M
Total Assets $1.338B
YoY Change -20.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.10M
YoY Change -3.12%
Accrued Expenses $347.4M
YoY Change 10.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $257.8M
YoY Change 45.81%
Total Short-Term Liabilities $695.3M
YoY Change 18.83%
LONG-TERM LIABILITIES
Long-Term Debt $604.0M
YoY Change -0.31%
Other Long-Term Liabilities $214.3M
YoY Change -2.1%
Total Long-Term Liabilities $214.3M
YoY Change -2.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $695.3M
Total Long-Term Liabilities $214.3M
Total Liabilities $909.6M
YoY Change 13.13%
SHAREHOLDERS EQUITY
Retained Earnings $1.074B
YoY Change -26.82%
Common Stock $600.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $895.3M
YoY Change 2.31%
Treasury Stock Shares 13.58M shares
Shareholders Equity -$175.5M
YoY Change
Total Liabilities & Shareholders Equity $1.338B
YoY Change -20.24%

Cashflow Statement

Concept 2018 Q2
OPERATING ACTIVITIES
Net Income $63.80M
YoY Change 34.6%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $2.000M
YoY Change -111.11%
INVESTING ACTIVITIES
Capital Expenditures -$22.40M
YoY Change -240.0%
Acquisitions
YoY Change
Other Investing Activities $27.20M
YoY Change 8966.67%
Cash From Investing Activities $4.800M
YoY Change -130.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -55.20M
YoY Change -261.88%
NET CHANGE
Cash From Operating Activities 2.000M
Cash From Investing Activities 4.800M
Cash From Financing Activities -55.20M
Net Change In Cash -48.40M
YoY Change -1013.21%
FREE CASH FLOW
Cash From Operating Activities $2.000M
Capital Expenditures -$22.40M
Free Cash Flow $24.40M
YoY Change -171.76%

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us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
800000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-600000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-700000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
43500000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1400000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
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CY2018Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2500000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
1800000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-400000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
-1800000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
600000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
300000 USD
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
800000 USD
us-gaap Other Comprehensive Income Loss Finalization Of Pension And Non Pension Postretirement Plan Valuation Before Tax
OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax
400000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9800000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
52200000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-55100000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-45000000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6800000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
43000000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-50100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-42400000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
700000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
1400000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-600000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
1700000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
1900000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
500000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax
600000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-700000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-400000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
200000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
0 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
243500000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
214300000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-700000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2400000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
400000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
200000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
600000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
51100000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
69300000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
70200000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
32000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
37600000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
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200000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
21200000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
24800000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
60100000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
127600000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5300000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
33100000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9900000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
278200000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
271500000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
-800000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
500000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1200000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1200000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
1300000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
1600000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
45400000 USD
CY2018Q2 us-gaap Restructuring Reserve
RestructuringReserve
30800000 USD
CY2017 us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
400000 USD
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
400000 USD
CY2017 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
0 USD
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
600000 USD
CY2017Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
32600000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
34900000 USD
CY2017 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
63700000 USD
CY2018Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
2100000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
9700000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1043100000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1073600000 USD
CY2017Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
CY2018Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0 USD
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
12549392 shares
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
572900000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1127700000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
535400000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1078000000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
299000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
596900000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
272800000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
562000000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
9256 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
22494 shares
CY2017Q3 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
35700000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
70500000 USD
CY2018Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
35800000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
71300000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-119400000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-175500000 USD
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
13584710 shares
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
851500000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
895300000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19800000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
16700000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
7300000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
6300000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
15900000 USD
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51200000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51000000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50700000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50800000 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. </font></div></div>

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