0000350698-13-000197.txt : 20131024 0000350698-13-000197.hdr.sgml : 20131024 20131024080904 ACCESSION NUMBER: 0000350698-13-000197 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20131024 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20131024 DATE AS OF CHANGE: 20131024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AUTONATION, INC. CENTRAL INDEX KEY: 0000350698 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 731105145 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13107 FILM NUMBER: 131166907 BUSINESS ADDRESS: STREET 1: 200 SW 1ST AVE STREET 2: SUITE 1600 CITY: FORT LAUDERDALE STATE: FL ZIP: 33301 BUSINESS PHONE: 9547696000 MAIL ADDRESS: STREET 1: 200 SW 1ST AVE STREET 2: SUITE 1600 CITY: FORT LAUDERDALE STATE: FL ZIP: 33301 FORMER COMPANY: FORMER CONFORMED NAME: AUTONATION, INC. /FL DATE OF NAME CHANGE: 20090827 FORMER COMPANY: FORMER CONFORMED NAME: AutoNation, Inc. /FL DATE OF NAME CHANGE: 20090827 FORMER COMPANY: FORMER CONFORMED NAME: AUTONATION INC /FL DATE OF NAME CHANGE: 19990407 8-K 1 an8kearningsrelease93013.htm FORM 8-K AN 8K Earnings Release 9/30/13


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date Of Report (Date Of Earliest Event Reported) October 24, 2013
 
 
AutoNation, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
Delaware
 
1-13107   
 
73-1105145
(State or other jurisdiction
of incorporation)
 
(Commission     
File Number)     
 
(IRS Employer
Identification No.)
200 SW 1st Ave
Fort Lauderdale, Florida 33301
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (954) 769-6000
 
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 2.02
Results of Operations and Financial Condition.
On October 24, 2013, AutoNation, Inc. (“AutoNation” or the “Company”) issued a press release announcing its results of operations for the fiscal quarter ended September 30, 2013. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is furnished as part of this report:

99.1
Press Release of AutoNation, Inc. dated October 24, 2013 regarding results of operations for the fiscal quarter ended September 30, 2013.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
AUTONATION, INC.
 
 
 
 
 
 
Date:
October 24, 2013
 
By:
 
/s/ Jonathan P. Ferrando
 
 
 
 
 
Jonathan P. Ferrando
 
 
 
 
 
Executive Vice President, General Counsel and Secretary



 EX-99.1 2 an8kearningsrelease93013ex.htm PRESS RELEASE AN 8K Earnings Release 9/30/13 EX99.1


Exhibit 99.1
 
 
 
 
Contact: Marc Cannon
(954) 769-3146
cannonm@autonation.com
 
Investor contacts: Cheryl Scully
(954) 769-7734
scullyc@autonation.com
 
Robert Quartaro
(954) 769-7342
quartaror@autonation.com

AutoNation Reports the 4th Consecutive All Time Record Quarterly EPS
from Continuing Operations
 
•
EPS from continuing operations an all-time record $0.75, up 14% compared to third quarter 2012 EPS from continuing operations of $0.66
•
Total revenue of $4.5 billion, up 14% compared to the year-ago period, increasing across all major business sectors; operating income of $187 million, an increase of 14% compared to the year-ago period
•
Total retail new and used vehicle unit sales are up 14% compared to the year-ago period
•
AutoNation to acquire Honda and Hyundai stores in Chicago, Illinois with annual revenues of approximately $85 million

FORT LAUDERDALE, Fla., (October 24, 2013) — AutoNation, Inc. (NYSE: AN), America’s largest automotive retailer, today reported 2013 third quarter net income from continuing operations of $93 million, or $0.75 per share, compared to net income from continuing operations of $82 million, or $0.66 per share, for the same period in the prior year, a 14% improvement on a per-share basis.
2013 third quarter revenue totaled $4.5 billion, compared to $3.9 billion in the year-ago period, an increase of 14%, driven by stronger performance in all of our business sectors - new vehicles, used vehicles, parts and service, and finance and insurance. AutoNation’s retail new vehicle unit sales increased 13% overall and 8% on a same store basis, while retail used vehicle unit sales increased 15% overall and 11% on a same store basis.
Mike Jackson, Chairman and Chief Executive Officer, said, “We delivered double-digit growth in EPS and operating income in the third quarter of 2013 compared to the prior year, driven by gross profit growth in all of our business sectors.”
AutoNation also announced that it has signed agreements to acquire O’Hare Honda and O’Hare Hyundai in Chicago, Illinois. The annual revenue for these stores is approximately $85 million, with retail sales of approximately 3,100 new and used vehicle units. The acquisitions are subject to manufacturer approval and other customary closing conditions and are expected to be completed in the fourth quarter of 2013.
Segment results(1) for the third quarter of 2013 were as follows:
•
Domestic – Domestic segment income(2) was $64 million compared to year-ago segment income of $52 million, an increase of 24%.
•
Import – Import segment income(2) was $73 million compared to year-ago segment income of $69 million, an increase of 5%.
•
Premium Luxury – Premium Luxury segment income(2) was $74 million compared to year-ago segment income of $63 million, an increase of 18%.
For the nine-month period ended September 30, 2013, the Company reported net income from continuing operations of $266 million, or $2.16 per share, compared to adjusted net income from continuing operations of $237 million, or $1.88 per share, for the same period in the prior year, an improvement of 15% on a per-share basis. On a GAAP basis, net income from continuing operations for the nine-month period ended September 30, 2012 was $234 million, or $1.85 per share. Reconciliations of non-GAAP financial measures are included in the attached financial tables. The Company’s revenue for the




nine-month period ended September 30, 2013, totaled $13.0 billion, up 13% compared to $11.5 billion for the same period in the prior year.
The third quarter conference call may be accessed by telephone at (888) 769-8515 (password: AutoNation) at 11:00 a.m. Eastern Time or on AutoNation’s investor relations website at http://investors.autonation.com.
The webcast will also be available on AutoNation’s website under “Events & Presentations” following the call. A playback of the conference call will be available after 1:00 p.m. Eastern Time on October 24, 2013, through October 31, 2013 by calling (866)443-1213 (password 75300).
  
(1) 
AutoNation has three operating segments: Domestic, Import, and Premium Luxury. The Domestic segment is comprised of stores that sell vehicles manufactured by General Motors, Ford, and Chrysler; the Import segment is comprised of stores that sell vehicles manufactured primarily by Toyota, Honda, Nissan, and Hyundai; and the Premium Luxury segment is comprised of stores that sell vehicles manufactured primarily by Mercedes-Benz, BMW, Lexus, and Audi.
(2) 
Segment income for each of our segments is defined as operating income less floorplan interest expense.
About AutoNation, Inc.
AutoNation is transforming the automotive retail industry through bold leadership. We deliver a superior automotive retail experience through our customer-focused sales and service processes. Owning and operating 267 new vehicle franchises, which sell 33 new vehicle brands across 15 states, AutoNation is America’s largest automotive retailer, with state-of-the-art operations and the ability to leverage economies of scale that benefit the customer. As an indication of our leadership position in our industry, AutoNation is a component of the S&P 500 Index. 
Please visit investors.autonation.com, www.autonation.com, www.twitter.com/autonation, www.twitter.com/CEOMikeJackson, www.facebook.com/autonation, and www.facebook.com/CEOMikeJackson, where AutoNation discloses additional information about the Company, its business, and its results of operations.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "continues," "may," "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements regarding our expectations for the future performance of our franchises and the automotive retail industry, as well as statements that describe our objectives, goals, or plans, are forward-looking statements. Our forward-looking statements reflect our current expectations concerning future results and events, and they involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from any future results, performance and achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: our ability to integrate successfully acquired and awarded franchises and to attain planned sales volumes within our expected time frames; economic conditions generally; conditions in the credit markets and changes in interest rates; the success and financial viability of vehicle manufacturers and distributors with which we hold franchises; factors affecting our goodwill and other intangible asset impairment testing; natural disasters and other adverse weather events; restrictions imposed by vehicle manufacturers; the resolution of legal and administrative proceedings; regulatory factors affecting our business; and other factors described in our news releases and filings made under the securities laws, including, among others, our Annual Reports on Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K. Forward-looking statements contained in this news release speak only as of the date of this news release, and we undertake no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
NON-GAAP FINANCIAL MEASURES
This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as adjusted net income and earnings per share from continuing operations, which exclude certain items disclosed in the attached financial tables. As required by SEC rules, the Company provides reconciliations of these measures to the most directly comparable GAAP measures. The Company believes that these non-GAAP financial measures improve the transparency of the Company's disclosure, provide a meaningful presentation of the Company's results from its core business operations excluding the impact of items not related to the Company's ongoing core business operations, and improve the period-to-period comparability of the Company's results from its core business operations.




AUTONATION, INC.
UNAUDITED CONDENSED CONSOLIDATED INCOME STATEMENTS
($ in millions, except per share data)
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
Revenue:
 
 
 
 
 
 
 
 
New vehicle
 
$
2,561.6

 
$
2,240.5

 
$
7,312.9

 
$
6,430.9

Used vehicle
 
1,044.7

 
936.4

 
3,110.9

 
2,802.6

Parts and service
 
653.8

 
596.8

 
1,946.3

 
1,799.2

Finance and insurance, net
 
174.9

 
147.0

 
504.4

 
422.3

Other
 
35.8

 
13.1

 
119.2

 
40.3

Total revenue
 
4,470.8

 
3,933.8

 
12,993.7

 
11,495.3

Cost of sales:
 
 
 
 
 
 
 
 
New vehicle
 
2,406.2

 
2,095.8

 
6,866.6

 
6,006.7

Used vehicle
 
964.2

 
863.7

 
2,860.3

 
2,571.7

Parts and service
 
376.7

 
345.0

 
1,116.7

 
1,043.8

Other
 
27.1

 
6.7

 
93.4

 
19.5

Total cost of sales
 
3,774.2

 
3,311.2

 
10,937.0

 
9,641.7

Gross profit
 
696.6

 
622.6

 
2,056.7

 
1,853.6

Selling, general and administrative expenses
 
485.1

 
435.8

 
1,452.5

 
1,307.3

Depreciation and amortization
 
24.1

 
22.9

 
70.1

 
64.9

Franchise rights impairment
 
—

 
—

 
—

 
4.2

Other expenses (income), net
 
0.2

 
0.2

 
(3.4
)
 
0.6

Operating income
 
187.2

 
163.7

 
537.5

 
476.6

Non-operating income (expense) items:
 
 
 
 
 
 
 
 
Floorplan interest expense
 
(12.7
)
 
(11.4
)
 
(39.2
)
 
(32.9
)
Other interest expense
 
(22.3
)
 
(22.2
)
 
(66.6
)
 
(65.2
)
Interest income
 
0.1

 
—

 
0.2

 
0.2

Other income (loss), net
 
(0.7
)
 
2.5

 
2.2

 
3.1

Income from continuing operations before income taxes
 
151.6

 
132.6

 
434.1

 
381.8

Income tax provision
 
58.8

 
50.7

 
168.0

 
147.4

Net income from continuing operations
 
92.8

 
81.9

 
266.1

 
234.4

Loss from discontinued operations, net of income taxes
 
(0.2
)
 
(0.3
)
 
(0.6
)
 
(1.2
)
Net income
 
$
92.6

 
$
81.6

 
$
265.5

 
$
233.2

Diluted earnings (loss) per share*:
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.75

 
$
0.66

 
$
2.16

 
$
1.85

Discontinued operations
 
$
—

 
$
—

 
$
—

 
$
(0.01
)
Net income
 
$
0.75

 
$
0.66

 
$
2.15

 
$
1.84

Weighted average common shares outstanding
 
123.5

 
123.4

 
123.3

 
126.4

Common shares outstanding, net of treasury stock, at period end
 
121.8

 
121.7

 
121.8

 
121.7



* Earnings per share amounts are calculated discretely and therefore may not add up to the total.




AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA
($ in millions, except per vehicle data)
Operating Highlights
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
$ Variance
 
% Variance
 
2013
 
2012
 
$ Variance
 
% Variance
Revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New vehicle
 
$
2,561.6

 
$
2,240.5

 
$
321.1

 
14.3

 
$
7,312.9

 
$
6,430.9

 
$
882.0

 
13.7

Retail used vehicle
 
933.0

 
811.5

 
121.5

 
15.0

 
2,786.2

 
2,442.1

 
344.1

 
14.1

Wholesale
 
111.7

 
124.9

 
(13.2
)
 
(10.6
)
 
324.7

 
360.5

 
(35.8
)
 
(9.9
)
Used vehicle
 
1,044.7

 
936.4

 
108.3

 
11.6

 
3,110.9

 
2,802.6

 
308.3

 
11.0

Finance and insurance, net
 
174.9

 
147.0

 
27.9

 
19.0

 
504.4

 
422.3

 
82.1

 
19.4

Total variable operations
 
3,781.2

 
3,323.9

 
457.3

 
13.8

 
10,928.2

 
9,655.8

 
1,272.4

 
13.2

Parts and service
 
653.8

 
596.8

 
57.0

 
9.6

 
1,946.3

 
1,799.2

 
147.1

 
8.2

Other
 
35.8

 
13.1

 
22.7

 

 
119.2

 
40.3

 
78.9

 

Total revenue
 
$
4,470.8

 
$
3,933.8

 
$
537.0

 
13.7

 
$
12,993.7

 
$
11,495.3

 
$
1,498.4

 
13.0

Gross profit:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New vehicle
 
$
155.4

 
$
144.7

 
$
10.7

 
7.4

 
$
446.3

 
$
424.2

 
$
22.1

 
5.2

Retail used vehicle
 
80.4

 
72.5

 
7.9

 
10.9

 
247.1

 
226.1

 
21.0

 
9.3

Wholesale
 
0.1

 
0.2

 
(0.1
)
 
 
 
3.5

 
4.8

 
(1.3
)
 
 
Used vehicle
 
80.5

 
72.7

 
7.8

 
10.7

 
250.6

 
230.9

 
19.7

 
8.5

Finance and insurance
 
174.9

 
147.0

 
27.9

 
19.0

 
504.4

 
422.3

 
82.1

 
19.4

Total variable operations
 
410.8

 
364.4

 
46.4

 
12.7

 
1,201.3

 
1,077.4

 
123.9

 
11.5

Parts and service
 
277.1

 
251.8

 
25.3

 
10.0

 
829.6

 
755.4

 
74.2

 
9.8

Other
 
8.7

 
6.4

 
2.3

 
 
 
25.8

 
20.8

 
5.0

 
 
Total gross profit
 
696.6

 
622.6

 
74.0

 
11.9

 
2,056.7

 
1,853.6

 
203.1

 
11.0

Selling, general and administrative expenses
 
485.1

 
435.8

 
(49.3
)
 
(11.3
)
 
1,452.5

 
1,307.3

 
(145.2
)
 
(11.1
)
Depreciation and amortization
 
24.1

 
22.9

 
(1.2
)
 
 
 
70.1

 
64.9

 
(5.2
)
 
 
Franchise rights impairment
 
—

 
—

 
—

 
 
 
—

 
4.2

 
4.2

 
 
Other expenses (income), net
 
0.2

 
0.2

 
—

 
 
 
(3.4
)
 
0.6

 
4.0

 
 
Operating income
 
187.2

 
163.7

 
23.5

 
14.4

 
537.5


476.6

 
60.9

 
12.8

Non-operating income (expense) items:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Floorplan interest expense
 
(12.7
)
 
(11.4
)
 
(1.3
)
 
 
 
(39.2
)
 
(32.9
)
 
(6.3
)
 
 
Other interest expense
 
(22.3
)
 
(22.2
)
 
(0.1
)
 
 
 
(66.6
)
 
(65.2
)
 
(1.4
)
 
 
Interest income
 
0.1

 
—

 
0.1

 
 
 
0.2

 
0.2

 
—

 
 
Other income (loss), net
 
(0.7
)
 
2.5

 
(3.2
)
 
 
 
2.2

 
3.1

 
(0.9
)
 
 
Income from continuing operations before income taxes
 
$
151.6

 
$
132.6

 
$
19.0

 
14.3

 
$
434.1

 
$
381.8

 
$
52.3

 
13.7

Retail vehicle unit sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
76,943

 
68,350

 
8,593

 
12.6

 
218,454

 
196,853

 
21,601

 
11.0

Used
 
52,659

 
45,643

 
7,016

 
15.4

 
155,280

 
137,995

 
17,285

 
12.5

 
 
129,602

 
113,993

 
15,609

 
13.7

 
373,734

 
334,848

 
38,886

 
11.6

Revenue per vehicle retailed:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
$
33,292

 
$
32,780

 
$
512

 
1.6

 
$
33,476

 
$
32,669

 
$
807

 
2.5

Used
 
$
17,718

 
$
17,779

 
$
(61
)
 
(0.3
)
 
$
17,943

 
$
17,697

 
$
246

 
1.4

Gross profit per vehicle retailed:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
$
2,020

 
$
2,117

 
$
(97
)
 
(4.6
)
 
$
2,043

 
$
2,155

 
$
(112
)
 
(5.2
)
Used
 
$
1,527

 
$
1,588

 
$
(61
)
 
(3.8
)
 
$
1,591

 
$
1,638

 
$
(47
)
 
(2.9
)
Finance and insurance
 
$
1,350

 
$
1,290

 
$
60

 
4.7

 
$
1,350

 
$
1,261

 
$
89

 
7.1

Total variable operations(1)
 
$
3,169

 
$
3,195

 
$
(26
)
 
(0.8
)
 
$
3,205

 
$
3,203

 
$
2

 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.





Operating Percentages
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013 (%)
 
2012 (%)
 
2013 (%)
 
2012 (%)
Revenue mix percentages:
 
 
 
 
 
 
 
 
New vehicle
 
57.3
 
57.0
 
56.3
 
55.9
Used vehicle
 
23.4
 
23.8
 
23.9
 
24.4
Parts and service
 
14.6
 
15.2
 
15.0
 
15.7
Finance and insurance, net
 
3.9
 
3.7
 
3.9
 
3.7
Other
 
0.8
 
0.3
 
0.9
 
0.3
 
 
100.0
 
100.0
 
100.0
 
100.0
Gross profit mix percentages:
 
 
 
 
 
 
 
 
New vehicle
 
22.3
 
23.2
 
21.7
 
22.9
Used vehicle
 
11.6
 
11.7
 
12.2
 
12.5
Parts and service
 
39.8
 
40.4
 
40.3
 
40.8
Finance and insurance
 
25.1
 
23.6
 
24.5
 
22.8
Other
 
1.2
 
1.1
 
1.3
 
1.0
 
 
100.0
 
100.0
 
100.0
 
100.0
Operating items as a percentage of revenue:
 
 
 
 
 
 
 
 
Gross profit:
 
 
 
 
 
 
 
 
New vehicle
 
6.1
 
6.5
 
6.1
 
6.6
Used vehicle - retail
 
8.6
 
8.9
 
8.9
 
9.3
Parts and service
 
42.4
 
42.2
 
42.6
 
42.0
Total
 
15.6
 
15.8
 
15.8
 
16.1
Selling, general and administrative expenses
 
10.9
 
11.1
 
11.2
 
11.4
Operating income
 
4.2
 
4.2
 
4.1
 
4.1
Operating items as a percentage of total gross profit:
 
 
 
 
 
 
 
 
Selling, general and administrative expenses
 
69.6
 
70.0
 
70.6
 
70.5
Operating income
 
26.9
 
26.3
 
26.1
 
25.7
 





AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA
($ in millions)
 
Segment Operating Highlights
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
$ Variance
 
% Variance
 
2013
 
2012
 
$ Variance
 
% Variance
Revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
1,491.2

 
$
1,285.0

 
$
206.2

 
16.0

 
$
4,384.5

 
$
3,809.2

 
$
575.3

 
15.1

Import
 
1,695.5

 
1,523.3

 
172.2

 
11.3

 
4,828.5

 
4,365.7

 
462.8

 
10.6

Premium luxury
 
1,247.4

 
1,086.4

 
161.0

 
14.8

 
3,662.7

 
3,202.0

 
460.7

 
14.4

Total segment revenue
 
4,434.1

 
3,894.7

 
539.4

 
13.8

 
12,875.7

 
11,376.9

 
1,498.8

 
13.2

Corporate and other
 
36.7

 
39.1

 
(2.4
)
 
(6.1
)
 
118.0

 
118.4

 
(0.4
)
 
(0.3
)
Total consolidated revenue
 
$
4,470.8

 
$
3,933.8

 
$
537.0

 
13.7

 
$
12,993.7

 
$
11,495.3

 
$
1,498.4

 
13.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*Segment income
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
64.2

 
$
51.9

 
$
12.3

 
23.7

 
$
188.9

 
$
155.2

 
$
33.7

 
21.7

Import
 
72.7

 
69.0

 
3.7

 
5.4

 
216.6

 
198.1

 
18.5

 
9.3

Premium luxury
 
74.2

 
62.9

 
11.3

 
18.0

 
218.7

 
190.0

 
28.7

 
15.1

Total segment income
 
211.1

 
183.8

 
27.3

 
14.9

 
624.2

 
543.3

 
80.9

 
14.9

Corporate and other
 
(36.6
)
 
(31.5
)
 
(5.1
)
 
 
 
(125.9
)
 
(99.6
)
 
(26.3
)
 
 
Add: Floorplan interest expense
 
12.7

 
11.4

 
1.3

 
 
 
39.2

 
32.9

 
6.3

 
 
Operating income
 
$
187.2

 
$
163.7

 
$
23.5

 
14.4

 
$
537.5

 
$
476.6

 
$
60.9

 
12.8

 
* Segment income for each of our segments is defined as operating income less floorplan interest expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail new vehicle unit sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
25,107

 
21,579

 
3,528

 
16.3

 
72,842

 
64,085

 
8,757

 
13.7

Import
 
38,906

 
35,578

 
3,328

 
9.4

 
108,382

 
100,331

 
8,051

 
8.0

Premium luxury
 
12,930

 
11,193

 
1,737

 
15.5

 
37,230

 
32,437

 
4,793

 
14.8

 
 
76,943

 
68,350

 
8,593

 
12.6

 
218,454

 
196,853

 
21,601

 
11.0

 
 
 
 
 
 
 
Brand Mix - New Vehicle Retail Units Sold
 
Three Months Ended
 
Nine Months Ended
 
 
 
 
 
 
 
 
 
September 30,
 
September 30,
 
 
 
 
 
 
 
 
 
 
2013 (%)
 
2012 (%)
 
2013 (%)
 
2012 (%)
 
 
 
 
 
 
 
 
Domestic:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ford, Lincoln
 
17.4

 
17.2

 
17.8

 
17.7

 
 
 
 
 
 
 
 
Chevrolet, Buick, Cadillac, GMC
 
10.1

 
10.5

 
10.3

 
11.1

 
 
 
 
 
 
 
 
Chrysler, Jeep, Dodge
 
5.1

 
3.9

 
5.2

 
3.8

 
 
 
 
 
 
 
 
Domestic total
 
32.6

 
31.6

 
33.3

 
32.6

 
 
 
 
 
 
 
 
Import:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Honda
 
12.5

 
11.6

 
11.8

 
11.6

 
 
 
 
 
 
 
 
Toyota
 
19.7

 
21.2

 
19.9

 
20.8

 
 
 
 
 
 
 
 
Nissan
 
10.7

 
12.0

 
10.6

 
11.6

 
 
 
 
 
 
 
 
Other imports
 
7.7

 
7.2

 
7.4

 
6.9

 
 
 
 
 
 
 
 
Import total
 
50.6

 
52.0

 
49.7

 
50.9

 
 
 
 
 
 
 
 
Premium Luxury:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mercedes-Benz
 
6.8

 
7.0

 
7.1

 
7.3

 
 
 
 
 
 
 
 
BMW
 
4.6

 
4.6

 
4.7

 
4.3

 
 
 
 
 
 
 
 
Lexus
 
2.2

 
2.1

 
2.2

 
2.0

 
 
 
 
 
 
 
 
Audi
 
1.2

 
0.8

 
1.2

 
0.8

 
 
 
 
 
 
 
 
Other premium luxury (Land Rover, Porsche)
 
2.0

 
1.9

 
1.8

 
2.1

 
 
 
 
 
 
 
 
Premium Luxury total
 
16.8

 
16.4

 
17.0

 
16.5

 
 
 
 
 
 
 
 
 
 
100.0

 
100.0

 
100.0

 
100.0

 
 
 
 
 
 
 
 




  
AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA, Continued
($ in millions)
 
Capital Expenditures / Stock Repurchases
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
Capital expenditures (1)
 
$
85.3

 
$
45.8

 
$
139.9

 
$
122.8

Cash paid for acquisitions
 
$
0.4

 
$
—

 
$
72.9

 
$
—

Proceeds from exercises of stock options
 
$
9.9

 
$
20.3

 
$
20.5

 
$
22.1

Stock repurchases:
 
 
 
 
 
 
 
 
Aggregate purchase price
 
$
—

 
$
—

 
$
4.9

 
$
531.6

Shares repurchased (in millions)
 
—

 
—

 
0.1

 
15.4

 
Floorplan Assistance and Expense
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
Variance
 
2013
 
2012
 
Variance
Floorplan assistance earned (included in cost of sales)
 
$
24.7

 
$
18.8

 
$
5.9

 
$
67.1

 
$
54.5

 
$
12.6

Floorplan interest expense (new vehicles)
 
(12.1
)
 
(10.9
)
 
(1.2
)
 
(37.4
)
 
(31.6
)
 
(5.8
)
Net new vehicle inventory carrying benefit
 
$
12.6

 
$
7.9

 
$
4.7

 
$
29.7

 
$
22.9

 
$
6.8

 
Balance Sheet and Other Highlights
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
Cash and cash equivalents
 
$
68.3

 
$
69.7

 
$
98.6

Inventory
 
$
2,504.8

 
$
2,396.9

 
$
2,142.1

Total floorplan notes payable
 
$
2,600.9

 
$
2,540.2

 
$
2,200.8

Non-vehicle debt
 
$
1,856.3

 
$
2,096.1

 
$
1,892.3

Equity
 
$
1,993.4

 
$
1,688.5

 
$
1,638.5

 
 
 
 
 
 
 
New days supply (industry standard of selling days, including fleet)
 
59 days

 
55 days

 
58 days

Used days supply (trailing calendar month days)
 
31 days

 
35 days

 
29 days

 
 
Key Credit Agreement Covenant Compliance Calculations
 
 
Ratio of funded indebtedness/
 
 
Adjusted EBITDA
 
2.37x
Covenant
less than
3.75x
 
Ratio of funded indebtedness including floorplan/
 
 
Total capitalization including floorplan
 
55.9
%
Covenant
less than
65.0
%
 

(1) Includes accrued construction in progress and excludes property acquired under capital leases.






AUTONATION, INC.
UNAUDITED SUPPLEMENTARY DATA, Continued
($ in millions, except per share data)
 
Comparable Basis Reconciliations*
 
Three Months Ended September 30,
 
 
Net Income
 
Diluted Earnings Per Share**
 
 
2013
 
2012
 
2013
 
2012
As reported
 
$
92.6

 
$
81.6

 
$
0.75

 
$
0.66

Discontinued operations, net of income taxes
 
0.2

 
0.3

 
$
—

 
$
—

From continuing operations, as reported
 
92.8

 
81.9

 
$
0.75

 
$
0.66

 
 
 
 
 
 
 
 
 
Adjusted
 
$
92.8

 
$
81.9

 
$
0.75

 
$
0.66

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine Months Ended September 30,
 
 
Net Income
 
Diluted Earnings Per Share**
 
 
2013
 
2012
 
2013
 
2012
As reported
 
$
265.5

 
$
233.2

 
$
2.15

 
$
1.84

Discontinued operations, net of income taxes
 
0.6

 
1.2

 
$
—

 
$
0.01

From continuing operations, as reported
 
266.1

 
234.4

 
$
2.16

 
$
1.85

Franchise rights impairment
 
—

 
2.6

 
$
—

 
$
0.02

Adjusted
 
$
266.1

 
$
237.0

 
$
2.16

 
$
1.88

*
Please refer to the “Non-GAAP Financial Measures” section of the Press Release.
**
Diluted earnings per share amounts are calculated discretely and therefore may not add up to the total.





AUTONATION, INC.
UNAUDITED SAME STORE DATA
($ in millions, except per vehicle data)
 
Operating Highlights
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
$ Variance
 
% Variance
 
2013
 
2012
 
$ Variance
 
% Variance
Revenue:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New vehicle
 
$
2,443.8

 
$
2,240.5

 
$
203.3

 
9.1

 
$
7,030.7

 
$
6,430.9

 
$
599.8

 
9.3

Retail used vehicle
 
892.7

 
811.5

 
81.2

 
10.0

 
2,682.6

 
2,442.1

 
240.5

 
9.8

Wholesale
 
106.2

 
124.9

 
(18.7
)
 
(15.0
)
 
310.8

 
360.5

 
(49.7
)
 
(13.8
)
Used vehicle
 
998.9

 
936.4

 
62.5

 
6.7

 
2,993.4

 
2,802.6

 
190.8

 
6.8

Finance and insurance, net
 
168.4

 
147.0

 
21.4

 
14.6

 
488.5

 
422.3

 
66.2

 
15.7

Total variable operations
 
3,611.1

 
3,323.9

 
287.2

 
8.6

 
10,512.6

 
9,655.8

 
856.8

 
8.9

Parts and service
 
630.6

 
596.8

 
33.8

 
5.7

 
1,892.1

 
1,799.2

 
92.9

 
5.2

Other
 
27.1

 
13.1

 
14.0

 
 
 
107.1

 
40.3

 
66.8

 
 
Total revenue
 
$
4,268.8

 
$
3,933.8

 
$
335.0

 
8.5

 
$
12,511.8


$
11,495.3

 
$
1,016.5

 
8.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New vehicle
 
$
147.9

 
$
144.7

 
$
3.2

 
2.2

 
$
428.0

 
$
424.2

 
$
3.8

 
0.9

Retail used vehicle
 
77.7

 
72.5

 
5.2

 
7.2

 
239.6

 
226.1

 
13.5

 
6.0

Wholesale
 
0.1

 
0.2

 
(0.1
)
 
 
 
3.5

 
4.8

 
(1.3
)
 
 
Used vehicle
 
77.8

 
72.7

 
5.1

 
7.0

 
243.1

 
230.9

 
12.2

 
5.3

Finance and insurance
 
168.4

 
147.0

 
21.4

 
14.6

 
488.5

 
422.3

 
66.2

 
15.7

Total variable operations
 
394.1

 
364.4

 
29.7

 
8.2

 
1,159.6

 
1,077.4

 
82.2

 
7.6

Parts and service
 
267.1

 
251.8

 
15.3

 
6.1

 
805.7

 
755.4

 
50.3

 
6.7

Other
 
8.4

 
6.4

 
2.0

 
 
 
25.3

 
20.8

 
4.5

 
 
Total gross profit
 
$
669.6

 
$
622.6

 
$
47.0

 
7.5

 
$
1,990.6

 
$
1,853.6

 
$
137.0

 
7.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Retail vehicle unit sales:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
73,527

 
68,350

 
5,177

 
7.6

 
210,515

 
196,853

 
13,662

 
6.9

Used
 
50,481

 
45,643

 
4,838

 
10.6

 
150,059

 
137,995

 
12,064

 
8.7

 
 
124,008

 
113,993

 
10,015

 
8.8

 
360,574

 
334,848

 
25,726

 
7.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue per vehicle retailed:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
$
33,237

 
$
32,780

 
$
457

 
1.4

 
$
33,398

 
$
32,669

 
$
729

 
2.2

Used
 
$
17,684

 
$
17,779

 
$
(95
)
 
(0.5
)
 
$
17,877

 
$
17,697

 
$
180

 
1.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit per vehicle retailed:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
New
 
$
2,012

 
$
2,117

 
$
(105
)
 
(5.0
)
 
$
2,033

 
$
2,155

 
$
(122
)
 
(5.7
)
Used
 
$
1,539

 
$
1,588

 
$
(49
)
 
(3.1
)
 
$
1,597

 
$
1,638

 
$
(41
)
 
(2.5
)
Finance and insurance
 
$
1,358

 
$
1,290

 
$
68

 
5.3

 
$
1,355

 
$
1,261

 
$
94

 
7.5

Total variable operations(1)
 
$
3,177

 
$
3,195

 
$
(18
)
 
(0.6
)
 
$
3,206

 
$
3,203

 
$
3

 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Total variable operations gross profit per vehicle retailed is calculated by dividing the sum of new vehicle, retail used vehicle, and finance and insurance gross profit by total retail vehicle unit sales.
 




Operating Percentages
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013 (%)
 
2012 (%)
 
2013 (%)
 
2012 (%)
Revenue mix percentages:
 
 
 
 
 
 
 
 
New vehicle
 
57.2
 
57.0
 
56.2
 
55.9
Used vehicle
 
23.4
 
23.8
 
23.9
 
24.4
Parts and service
 
14.8
 
15.2
 
15.1
 
15.7
Finance and insurance, net
 
3.9
 
3.7
 
3.9
 
3.7
Other
 
0.7
 
0.3
 
0.9
 
0.3
 
 
100.0
 
100.0
 
100.0
 
100.0
Gross profit mix percentages:
 
 
 
 
 
 
 
 
New vehicle
 
22.1
 
23.2
 
21.5
 
22.9
Used vehicle
 
11.6
 
11.7
 
12.2
 
12.5
Parts and service
 
39.9
 
40.4
 
40.5
 
40.8
Finance and insurance
 
25.1
 
23.6
 
24.5
 
22.8
Other
 
1.3
 
1.1
 
1.3
 
1.0
 
 
100.0
 
100.0
 
100.0
 
100.0
Operating items as a percentage of revenue:
 
 
 
 
 
 
 
 
Gross Profit:
 
 
 
 
 
 
 
 
New vehicle
 
6.1
 
6.5
 
6.1
 
6.6
Used vehicle - retail
 
8.7
 
8.9
 
8.9
 
9.3
Parts and service
 
42.4
 
42.2
 
42.6
 
42.0
Total
 
15.7
 
15.8
 
15.9
 
16.1



 GRAPHIC 3 autonationlogoa01a01.jpg GRAPHIC begin 644 autonationlogoa01a01.jpg M_]C_X``02D9)1@`!`0$!+`$L``#_X0!:17AI9@``24DJ``@````%``$#!0`! M````2@````,#`0`!`````````!!1`0`!`````0```!%1!``!````(RX``!)1 M!``!````(RX```````"@A@$`C[$``/_;`$,`"`8&!P8%"`<'!PD)"`H,%`T, M"PL,&1(3#Q0=&A\>'1H<'"`D+B<@(BPC'!PH-RDL,#$T-#0?)SD].#(\+C,T M,O_;`$,!"0D)#`L,&`T-&#(A'"$R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,O_``!$(`6P$O0,!(@`"$0$#$0'_ MQ``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_Q`"U$``"`0,#`@0# M!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*" M"0H6%Q@9&B4F)R@I*C0U-C+CY.7FY^CIZO'R\_3U]O?X^?K_Q``?`0`#`0$! M`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($!`,$!P4$!``!`G<` M`0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B7J" M@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR\_3U]O?X^?K_V@`,`P$``A$#$0`_`/?:***` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BJVHW]OI>FW5_=.$M[:)II&]%49/\J^=F_:2U[<=NAZ:%SP"SG^M`'TE17S M9_PTCK__`$!--_[ZD_QH_P"&D=?_`.@)IO\`WU)_C0!])T5RGPZ\8CQSX1@U M=HXX;D2/#<11G(1U/09YY4J?QKJZ`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`***Q?$?BW0O"=I]IUK48;4$92,G,DG^Z@Y/Y4`;59FJ^(=(T M22VBU+4(+>6YD6*")V^>1F.`%4O`?&'[0FI7WF6OA>U^P0'C[7.` MTS#V7E5_4_2O-/#]_=ZEX_T:[OKJ:YN9-1MR\LSEV;]XO4F@#[0`]"0":`+%%?- MG_#2.O\`_0$TW_OJ3_&C_AI'7_\`H":;_P!]2?XT`?2=%?-G_#2.O_\`0$TW M_OJ3_&O&+;5[7"LPV3PYR8I1]Y?ZCU!%`'0T444`%%%%`!117) M?$?Q9=>"O"$NLVEO#<2I+''Y]T`%%%%`!1110`4444`%%%%`!1110`4444`%%5[Z_L],LY+N^NH;:VC&7 MEF<*J_B:\:\8?M":=8^9:>%[7[?.,C[7."L*GU"_>;]!]:`/9;Z_L],LY+N^ MNH;:VC&7EF<*J_B:;INHVFKZ=!?V$PFM9UWQ2`$!AZ\U\3>(O%NN^*[S[3K6 MHS71!RD9.(X_]U1P*^MOA?\`\DQ\/?\`7FO]:`.MHHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`\E_:`\2_P!D^"8]'ADVW&JR[6`."(DPS?F=H^A-?+E>A?&? MQ+_PD?Q$O$B?=::=_H<.#P2I^<_]]%N?0"O/:`"BBB@#VC]G?Q+]A\2WGA^: M3$.H1>;""?\`EJG4#ZKG_OD5]*U\):%J\^@Z]8:M;$^;:3I,HSC=@Y(^A&1^ M-?WN8EFC8=U89'Z&@"Q1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`<5\5]=U'PY\.]1U+2KC[/>(T:)+M#%0SA3C/&<$U\?WM M_=ZE=R7=]=37-S(?T4`??:.DD:R1LK(P!5E M.00>X-.KQ+X"_$#^T=/_`.$2U*7-W:)NLF;_`):1#JGU7M_L_P"[7MM`!111 M0`5YE\>O^26W/_7S#_Z%7IM>9?'K_DEMS_U\P_\`H5`'R?1110!U7PS_`.2F M>'?^OZ/^=?:=?%GPS_Y*9X=_Z_H_YU]IT`%%%%`!1110`4444`%%%%`!1110 M`4444`?#GB+Q;KOBN\^TZUJ,UT0:_UKXOK[0^%_\`R3'P]_UYK_6@#K:***`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHI"0`22`!W-`"T5GSZS:0Y"L96_P!CI^=4)/$$I_U<"+_O$G_"O-KYO@Z+ MM*=WY:_D;QP]26R-^BN:.N7A_P">8_X#3TUZZ!^9(F'T(_K7*N(<$W;7[B_J M=0Z*BL>'7XF($T3)[J\K?*@_[Z(_#-=#7S_P#M'>)3$^64_GN'X"OENO1/@KXE_X1[XBVD4K[;7 M4A]CER>`S$;#_P!]`#Z,:`/KFBBB@`HHHH`**\L^+WQ*UGP!WI0![ M'1110`445Q?Q1\7ZAX)\(?VOIL-M+HKP#P3\CWECI$=O=S>7(T,,@<#!/!,A';TKW^@#SGXY_\DGU/_KK!_Z-6ODBOK?X MY_\`))]3_P"NL'_HU:^2*`"MGPC_`,CIH7_81M__`$8M8U6=.OI=,U.TOX51 MI;69)D#@E2RL",X[9%`'WI17S#_PT;XO_P"@;H?_`'XE_P#CM'_#1OB__H&Z M'_WXE_\`CM`'T]17A'P[^-7B/Q;XZTW0[^RTJ.UNO-WO!%('&V)W&"9".JCM M7N]`!1110`45Q?C/XH^&_!.Z&]N&N=0QD65MAG'^\>BCZG/H#7B6O?M">*=0 M=UTF"UTJ$_=(7SI!_P`"8;?_`!V@#ZAHKXKN_B3XUO3F7Q1JB\Y_0?DQ-`'VO17RKHGQ]\8Z8ZK?O:ZI".HGB"/C MV9,?J#7LO@SXS>&O%LB6DCMI>HO@+;W3#:Y]$?H?H<$^E`'HM%%%`!5'6?\` MD!:A_P!>TG_H)J]5'6?^0%J'_7M)_P"@F@#X0HHHH`****`+>F:E=Z/J=MJ- MC,T-U;2"2-U[$?T]N]?9_@;Q=:>-O"]MJ]MM64C97Z=Q[$5\2UW MOPH\?/X'\3J;EW.DWF([M!SM_NR`>JY_(GVH`^P**;'(DL:21NKHX#*RG((/ M0BG4`%>9?'K_`));<_\`7S#_`.A5Z;7F7QZ_Y);<_P#7S#_Z%0!\GT444`=5 M\,_^2F>'?^OZ/^=?:=?%GPS_`.2F>'?^OZ/^=?:=`!115>]OK33;1[J^NH;: MWC&7EF<(J_4GB@"Q17D/B7]H/PYI;/!HUM/JTZY'F#]U#G_>(R?P&#ZUYGJW MQ_\`&E^SBS>RTY#]WR(`[`?5]P_04`?55%?%US\3O&]WN\SQ-J*[N#Y4OE_E MMQBJ?_"=>+_^AKUS_P`&,O\`\50!]NT5\9VGQ6\=6)!B\2WK8_Y[%9?_`$,& MNVT+]HO7K214UO3;2_ASR\.89!_-3],#ZT`?2U% MSG`25?PZ,/<$UUE`!1110!\!4444`%?:'PO_`.28^'O^O-?ZU\7UZ=H/QT\3 M^'="LM(M+'2'M[2,11M+#(7('J1(!G\*`/J^BOF'_AHWQ?\`]`W0_P#OQ+_\ M=H_X:-\7_P#0-T/_`+\2_P#QV@#Z>HJ.WD,MM%(V`70,<>XKROXN?$[6O`.I M:;;:5:Z?,EU"\CFZC=B""!QM=:`/6**^8?\`AHWQ?_T#=#_[\2__`!VC_AHW MQ?\`]`W0_P#OQ+_\=H`^GJ*\C^$GQ2UOQ[K=_9:I:Z?#';VPE0VL;J2=P'.Y MVXYKUR@`HHHH`**Y3QA\1/#O@F'_`(FEWNNF&4LX,/*WOC^$>Y(%>(^(/VB/ M$-[(Z:)96NFP\A7D'G2^QY^4?3!^M`'TS17Q;>?$WQO?$^=XGU)<_P#/"8P_ M^@8J"#XA>,K:3S$\4ZP3TQ)>.X_)B10!]LT5\G:-\=_&NENHNKJWU.$'E+J$ M`X_WDP?Q.:]@\'?'+PYXEDCL]1!TB_?`"SN#"Y]%DXQ_P(#\:`/4:*.M%`!1 M17)_$CQ/>^#_``1>:UI\5O+)O$GC/2]'O+' M2([>[F\N1H89`X&">"9".WI7J/C/XD>'?!$6W4;DRWK#*65OAI2.Q(S\H]SC MVS0!UU%?,&O_`+0OB?4&9-'MK72H>S;?.E_-AM_\=KB+OXC^-+V3?+XHU53_ M`-,;EHA^2$"@#[6HKXKM/B3XULCF+Q1JC:[;P[^T)XDT^5(] M;M[?5+?@,X40R@>H*_*?IM_$4`?3U%Z MA#9+\WS2'H@KG+J_GO&_>/A>R#H*@=VD><%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`#9)$BC>21@J("S, M3P`.IKXB\:^(7\4^,=4UAF)2XF/D@_PQCY4'_?(%?37QK\2_\(]\.[N*)]MU MJ1^QQ>NUA\Y_[Y!'U(KY'H`***W/!N@MXF\8:5HX!*7-PHEQVC'+G_OD&@#Z M(\,^`?.^`#:$\6+S4;5KS!7!\YL/'GW&V,'Z5\N$%20001P0>U??:(L:*B*% M51@`=`*^./BQX?\`^$<^(^JVR)MM[A_M<'IMDY('L&W#\*`.*ITYKWR@`HHHH`^>OVEO\`C^\.?]@`KU_]G+_`)*%?_\`8*D_]&Q5Y!7K_P"SE_R4*_\` M^P5)_P"C8J`/IZBBB@`KRO\`:"_Y)G_V_1?R:O5*\K_:"_Y)G_V_1?R:@#Y6 MHHHH`['X4?\`)4O#_P#U\_\`LIK[,KXS^%'_`"5+P_\`]?/_`+*:^S*`/.?C MG_R2?4_^NL'_`*-6ODBOK?XY_P#))]3_`.NL'_HU:^2*`"BBB@`HHHH`[_X) M_P#)7M#_`.WC_P!$25]?5\@_!/\`Y*]H?_;Q_P"B)*^OJ`"O$/BY\8FTB2;P M[X9G'V]24N[Q>?(/=$_V_4]NG7IU7QA\>MX,\+^38R[=7U#,=N1UB4?>D_#. M![D>AKY(9F=BS$LQ.2265V>1R69V.2Q/4D]S3:**`"BBB@`HH MHH`]N^%/QGN-/N+?0/%%RTUBY$=O?2MEH#T"N3U3W/(^G3Z.!#`$$$'D$5\! MU]+?`?Q^^LZ:_AC4YB][9)NM9'/,D(XV^Y7C\"/2@#V>J.L_\@+4/^O:3_T$ MU>JCK/\`R`M0_P"O:3_T$T`?"%%%%`!2D%20001P0>U)7K7Q=\$&ST_2?&%C M#BUU"VA%XB\^7,4&&^C#]1_M4`>2T444`?1OP$^('V^R_P"$2U*;_2;92UB[ M'EXAU3ZKU'M_NU[A7P9IVHW6DZE;:A8S-#=6\@DBD7J&'^>E?9W@3QA:^-O" MUMJUOM2;_5W,(.?*E'4?3N/8B@#I:\R^/7_)+;G_`*^8?_0J]-KS+X]?\DMN M?^OF'_T*@#Y/HHHH`ZKX9_\`)3/#O_7]'_.OM.OBSX9_\E,\._\`7]'_`#K[ M3H`*^0_C%)XCA\=WEAKNH3W4,;>;9AOEC\IONE5'`/4$]D<$9=C M^`YH`KT5W.G_``>\>:B%:/0)H4/\5S(D6/J&(/Z5IR?`;QVD/F+96DC8SY:W M2;OUP/UH`\SHK4UOPYK/AN[%KK.G7%E*?NB5>&_W6Z-^!K+H`EMKJXLKF.YM M9I()XFW))&Q5E/J".E?47P@^*9\8VQT?6'1=:MTW+(`%%T@ZMCH&'<#ZCOCY M8J]HVK7>A:S::K8R>7-O_P!L?]>(_P#0UKZ3KYL_9N_Y&O6/^O$?^AK7TG0`5Y'\6OBZOA4/H>A.DFLN MO[V;AEM`>G'0N1V/3@GTKJOB;XV3P/X1FO8RK7\Y\FS0\YD(^\?91S^0[U\< MW-Q-=W,MS<2M+/*Y>21SDLQ.230`MW=W%_=RW5W/)/<2L6DED8LS'U)/6H:* M*`"BBB@`HHHH`]:^%OQBO/#,T&C:Y*]UHK$(DC'+VGN/5/;MV]#]00S17$$< M\$B212*&1T.58'D$'N*^!:]^^`7C]V<^#]2F)&"^GNYZ8Y:+^9'T/M0![_7G M/QS_`.23ZG_UU@_]&K7HU><_'/\`Y)/J?_76#_T:M`'R11110!?T76+O0-8M M]5L&1;JW8M$SKN`.",X]LU6N[NYO[N6[NYY)[B9B\DLC;F8GN34-%`!1110` M4444`:6@Z]J/AK6;?5=+G,-U`V0>S#NK#NIZ$5]F>"_%5IXS\+VFLVF%,@VS M19R8I1]Y?\/4$'O7Q#7LG[//B9[#Q7<>'Y9#]GU&,O$I[3(,\?5=W_?(H`^F M:***`(KFX2UMWF?HHZ>I]*Y&>9[B9I9#EF.:T]=NB\ZVZGY4&6^M9%?#9]CG M6K^QB_=C^?7[MCU,)2Y8\SW84J@LP51DDX`%)5K31G48,_WJ\6C3]I5C#NTO MO.J3Y8MDYT6\$>_:A/\`=#?3QKO[Z./HK3O-&G@RT/[U/;J/PK,(P<'K7R^(PM;#2Y M*L;,[H5(S5XL****YRPHHHH`W=$OLC[+(>1RA/\`*MJN*CD:*19$.&4Y!KL; M>9;BW25>C#/TK[;A_'.M2=";UCMZ?\#_`"/,Q=+EES+J24445]"<84444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!116=KVL0:!H%_JUS_JK2!I2/[V!P/J3@?C0!\U?'[Q+_`&OXY32H MGS;Z5%Y9QT\U\,_Z;1]0:\HJQ?7L^I:A@`KW/] MG'P[Y^J:IXBE0[+=!:P$C@NWS.?J`%'_``.O#*^S?A?X=_X1GX>Z59.A2XDC M^T7`/7S'^8@_087\*`.PKP_]HWP[]HT?3?$,*9>UD-M.0.=C\J3[!@1_P.O< M*QO%NA)XF\)ZGHS[H(X(I ME`'1>!/$;>%/&NEZON(BAF"S@=XF^5_KP2?J!7VTK*Z*Z,&5AD$'((KX#KZ^ M^#?B7_A(_AU8^;)ONK#_`$.;)R3MQM/XJ5Y]5_M!?\DS_P"W MZ+^34`?*U%%%`'8_"C_DJ7A__KY_]E-?9E?&?PH_Y*EX?_Z^?_937V90!YS\ M<_\`DD^I_P#76#_T:M?)%?6_QS_Y)/J?_76#_P!&K7R10`5H:!91:EXCTRQG MW>3\+^%=?MM:T[[=]KMM_E^;.&7YE* MG(QZ,:[^BL+QGJQT+P5K.IHVV2WM)&C.%H_"O@+3[K&J_!OP-JELT7]BI:/C"S6CM&R^^,X/X@UWE% M`'Q[\1_ACJ'@"]20R?:]*G8B"Z"X(/78X[-C\#^8'"5]R^*O#UKXJ\,WVC7: MKLN(R$T8^RGY1_WR5KL]9_Y`6H?]>T MG_H)H`^$****`"OMNPTFSUWX>6.EW\0EM;K38HY%]C&O(]".H/8BOB2ON+P; M,;GP/X?G(`,FFV[D#MF-30!\=>,/"UYX.\376C7HR8CNBEQ@2QG[K#Z_H01V MK"KZX^+WP_'C3PT;BSCSK%@K26V!S*O\4?X]1[CW-?)#*R,58%6!P01@@T`) M7=?"OQ[)X&\3K).S'2KO$5X@YVC/$@'JN3]02*X6B@#[ZBECGB26)U>-U#(Z MG(8'D$'TKS7X]?\`)+;G_KYA_P#0JYKX"?$#[9:?\(AJ4W^D0*6L'8\O&.3' M]5ZCVS_=KJOCJBM\*=1)&2LT!'L?,4?UH`^2J***`.J^&?\`R4SP[_U_1_SK M[3KXL^&?_)3/#O\`U_1_SK[3H`*"`001D&BB@#R:R^`'A>/7KS4+V2>YM9)C M)!8J?+CB4\[20=S8[)M$\ M-V_GZSJ=M9H1E1*_S-_NKU;\!7FVJ_M$>%;-VCT^SU"_(Z.$$2'\6.[_`,=H M`]>HKY]F_:7E,A\CPL@3MOOB2?R3BEA_:7D#_O\`PJA7_8OL$?G'S0![7XD\ M.:;XJT2?2M4@66"4<'^*-NS*>Q%?%&O://X?U^_TBZYFLYVA9@,!L'AA[$8/ MXU]&:9^T5X7NI%2_T_4;+/\`&%65!]<'/Z5X?\2]5L=;^(>KZEIDZSV=PZ-% M*H(##RU!X(!'(/6@#DZ***`/K#X"Z@;WX7V\+/N-G0?LY M?\D]O_\`L*R?^BHJ]?H`^`J***`"OHOP3\%/">O^"])U6]^W_:;JW623RYP% MR?0;:^=*^T/A?_R3'P]_UYK_`%H`YC_AGWP3_P!1+_P)'_Q-'_#/O@G_`*B7 M_@2/_B:]4HH`;'&(HDC7.U%"C/M7SK^TI_R'="_Z]I/_`$(5]&5\Y_M*?\AW M0O\`KVD_]"%`'AU%%%`'M7[-W_(UZQ_UXC_T-:^DZ^;/V;O^1KUC_KQ'_H:U M]$:I?)I>D7NH2X\NU@>=L^BJ6/\`*@#Y8^./BAM?\?SV44FZSTH?9HP#QYG6 M0_7=\O\`P`5YI4MS$?"6I^-->BTK3 M$&\C=+*_W(4[LW^'>L&OK'X'^%8M`\!6]^\:_;=5Q'/@9X/T6V3[=:MJUWCYYKEB%SWVH#@#ZY/O6K?_``A\"ZA;F)M`@A/:2W9H MV4^N0>?QR*[>B@#Y+^)OPEO/`N-0LYGO=%=MHE8#S(6/0/CCGLPX]AQGS:OO M'5M+M=:TFZTR^C$EM=1-%(I]".H]QU!]:^'M=TF?0=>O])N/];9SO"QQ][!P M#]".?QH`SZM:;J%SI.IVNHVX(."<]E!XXY)STQ7DUO!)=7,5O$-TDKA$'J2<"ONO1M+@T31+'2[90L-I M`D*8[A1C/U/6@#)L/A_X0TQ$6U\-:6I3[KO;+(X[?>8$_K5;5OACX+UB%X[C MP[8Q%O\`EI:Q"!P?7*8Y^M=;10!\??$[X;W'@#5X_+D>XTJZ)-M.P^8$=4?' M&X?J/Q`X.OL+XQ:+'K/PQU8,H,MH@NXF(^Z4Y/\`X[N'XU\>T`%;?@W4VT?Q MIHNH*VT07L3,?]G<`P_$$BL2B@#[]I&8(C,>@&34%A.;G3;62R[9/[Z]?\`Z]7**RJT:=:/)45T5&3B[Q9RUWI=Q:9;'F1_WE[?7TJC M7;UG7>CP7.60>5)ZJ.#]17R^.X=:O/"OY/\`1_Y_>=U+&=)G,T59NK&XM#^] M3Y>S#D&JU?,5*4Z4N2HK/S.Z,E)705T&@3;K>2$GE#D?0US]:>A.5ORO9D(_ MK7HY-6=+&P\]/O\`^"8XF/-29TE%%%?H9XX4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!7BO[17B3[' MX=L?#T+XDOY/.G`_YY(>`?JV#_P"O:J^-/BGXE_X2GX@ZE>1ONMH7^RV_IY: M9&1[$[F_X%0!QM%%%`&KX9_LP>)M.;6I3%IJ3J]RP0OE`?@#_H+3?^`DO_Q-?)%%`'UO_P`+S\`?]!:;_P`!)?\`XFC_`(7GX`_Z"TW_ M`("2_P#Q-?)%%`'4?$.[T74?'&I:AH$_G6%V_GC,3)M=AEQ@@?Q9/XUR]%%` M!7KW[/OB7^R_&4VBS28M]4BP@)X\U,E?S7F:C<:1JMIJ-JVVXM9E MFC/^TIR/Y4`?>5%4M'U2WUO1K+5+4Y@NX5F3V##.#[BKM`'SU^TM_P`?WAS_ M`*Y7'\TKP>O>/VEO^/[PY_URN/YI7@]`!7K_`.SE_P`E"O\`_L%2?^C8J\@K MU_\`9R_Y*%?_`/8*D_\`1L5`'T]1110`5Y7^T%_R3/\`[?HOY-7JE>5_M!?\ MDS_[?HOY-0!\K4444`=C\*/^2I>'_P#KY_\`937V97QG\*/^2I>'_P#KY_\` M937V90!YS\<_^23ZG_UU@_\`1JU\D5];_'/_`))/J?\`UU@_]&K7R10`5L^$ M?^1TT+_L(V__`*,6L:MGPC_R.FA?]A&W_P#1BT`?PD_3YA_44`?*E%%%`&AH-DNI>(M M,L'&5N;N*$@=PS@?UK[M````&`*^(/`[*GC_`,-NQPJZI:DGT'FK7V_0`444 M4`%?&WQ:LDT_XJ>((44`-<";`]9$5S^K5]DU\C?'&5)/BSJJHN#''`KG^\?* M4Y_(@?A0!YW1110!](_LVW);PQK5KDXCO%D`_P!Y`/\`V2O7M9_Y`6H?]>TG M_H)KQG]FK_D$>(/^N\/_`*"U>S:S_P`@+4/^O:3_`-!-`'PA1110`5]N^!/^ M2>^&O^P5:_\`HI:^(J^W?`G_`"3WPU_V"K7_`-%+0!T%?-'QW^'_`/8VJ_\` M"4:;#BPOGQ=(B\13'^+Z-_//J*^EZIZMI5GK>DW6F7\(EM;F,QR(?0]QZ$=0 M>Q%`'P=170^-?"=YX+\3W6D70+*AWP2XXEB/W6_H?0@USU`%G3M0NM*U*VU" MRE:*ZMI%EB=?X6!R*^BO'7BZU\:_L_7.KV^U93)!'^`R_\"]J`,FBBB@#JOAG_`,E,\._] M?T?\Z^TZ^+/AG_R4SP[_`-?T?\Z^TZ`"O#OB;\<1ID\VB>%'CDNDRD^H'#+& M>XC'1B/4\#W[;GQP\=R^%_#D>DZ?*8]2U,,N]3AHH1PS#T)Z#\3VKY7H`L7U M_>:G>27E_BB@`HJQ:6%Y?R&.SM)[EQ_##&7/Y"K[^% M?$4:[I-`U15'=K.0#^5`&113I(WBOT`?`5%%%`!7VA\+_`/DF/A[_ M`*\U_K7Q?7VA\+_^28^'O^O-?ZT`=;1110`5\Y_M*?\`(=T+_KVD_P#0A7T9 M7SG^TI_R'="_Z]I/_0A0!X=1110![5^S=_R->L?]>(_]#6O8_BIL?]>(_]#6O5OC1&\OPDUU47)"PMCV$T9/Z`T`? M']%%%`"HC.ZHBEF8X"@9)-?>FGVB:?IMK91@".WA2)<>B@`?RKX3TYUCU.T= MV"HLR%B>@&X5]Z4`%%%%`!7R;\>+!++XHW<_LU_P#(=UW_`*]H_P#T(UZ-\<_^23ZG_P!= M8/\`T:M`'R11110!M^#8O/\`''A^'C]YJ5NO/3F117W%7Q%X$_Y*%X:_["MK M_P"C5K[=H`****`,CQ5&LO@_6XW4,CV$ZL#W!C:OAFONCQ-_R*FL?]>,_P#Z M`:^%Z`"BBB@#[I\-,6\*Z0S$EC90DD]_D%/UK_D&M_O"H_#/_(J:/_UXP?\` MH`J76AG3'/H0?UKBS'_=*O\`A?Y&M'^)'U.8HHHK\U/:"K>F?\A*#_>JI5O3 M/^0E!_O5TX/_`'FG_B7YD5/@?H=91117Z<>&%%%%`!1110`UT61"C@,I&"#W MKCKB,17,L8Z(Y4?@:Z:]U."T4C<'E[(/Z^EOD.)*]&;A"+ MO)7OY>1Z."C)7;V&U=TDXU2'\?Y&J57M'7=J<1],G]#7A8!-XJE;^9?F=57^ M'+T.IHHHK],/$"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`Y#XG>)?^$5\`:G?H^RYD3[/;$=?,?@$? M09;_`(#7QC7MO[1?B7[7KMAX=ADS'91_:+@`_P#+1Q\H/N%Y_P"!UXE0`445 MJZ!X:UCQ3?/9:+8O>7$<9E9%91A00,Y)`ZD4`95%=Q_PI[Q__P!"Y-_W^B_^ M*H_X4]X__P"A\?_`/0N3?\`?Z+_`.*K"\1>$->\)M;KKFG269N` MQBW,K;]N,_=)Z9'YT`8E%%%`'TU^SSXD_M#PG=:%,^9M-EW1`_\`/*0D_HV[ M\Q7L=?'GPA\2_P#"-?$73Y9'VVMX?L<^>FUR-I_!@I^@-?8=`'SU^TNI^V^& MVP<&.X`/XQUX/7T;^TG9>9H&A7^W_4W4D.[TWJ#C_P`A_I7SE0`5ZO\`L]7( M@^),D9(!GT^6,>_S(W_LM>45T/@7Q"/"OC72M9?=Y-O-B;;U\M@5?Z_*30!] MN44R&:*X@CGAD62*10Z.AR&4C((/<8I]`!7D7[15V(?A]:6_&Z?4$&#Z!')( M_''YUZ[7S1^T-XHBU/Q'9Z#:R!X]-1GG*G(\U\?+^"@?]]$=J`/&:***`.Q^ M%'_)4O#_`/U\_P#LIK[,KXS^%'_)4O#_`/U\_P#LIK[,H`\Y^.?_`"2?4_\` MKK!_Z-6ODBOK?XY_\DGU/_KK!_Z-6ODB@`K9\(_\CIH7_81M_P#T8M8U:?AV MZBLO$^DW#RYA]%D M7/Z9KOZH:WIB:UH.H:7)C9>6TD!)[;E(S^M`'PC14MS;2V=W-:SH4FA=HY%/ M\+`X(_,5%0!9T^\?3]2M;V,9>WF251G&2I!'/X5]WVUQ%>6D-S`P>&9%D1AW M4C(/Y&O@>OJ'X%>.(-:\,1^'KN=1J6FKLC5C@RP?PD>NW[I]@/6@#URBBB@` MKXE\?:NFN^/M;U&,@Q2W;B-@<[D4[5/XA0:^F/B[X[A\'^%)H()E_M>_0Q6R M`_,@/#2'V`Z>^/>OD2@`HHHH`^FOVH:0ER#]-P'X5T.L_P#("U#_ M`*]I/_030!\(4444`%?;O@3_`))[X:_[!5K_`.BEKXBK[=\"?\D]\-?]@JU_ M]%+0!T%%%%`'GWQ;\`KXV\,%[2,?VO8@R6K8YD'\4>??M[@>]?(KHT;LCJ5= M3AE88(/H:^^Z^;?CS\/_`.S-1_X2O38<6=V^V]11Q',>C_1N_P#M?[U`'BE% M%%`!1110!U7PS_Y*9X=_Z_H_YU]IU\6?#/\`Y*9X=_Z_H_YU]IT`?'OQBUAM M9^)^KL7W16CBTC&<[0@PP_[[WG\:X2MGQ>2WC77B223J-P23_P!=&K&H`*]9 M^#7PPM_&$\NLZRK-I5K)Y:0#(^T28!()_N@$9QUS]:\FKZX^!OD_\*FTKR\; M_,G\W'][S7_IMH`[RQT^RTNT2UL+2&UMT&%BA0(H_`59HHH`SM6T#1]>@,.J MZ9:7J$8_?Q!B/H3R/PKX\^)&C6/A_P"(.KZ7IL1ALX)%$498MM!16QD\]2:^ MU*^-_BY/%_9R_Y)[?_`/85 MD_\`145>OUY!^SE_R3V__P"PK)_Z*BKU^@#X"HHHH`*^T/A?_P`DQ\/?]>:_ MUKXOK[*^$US%=?"W0'B;(6W,9]F5BI_44`=G1110`5\Y_M*?\AW0O^O:3_T( M5]&5\Y_M*?\`(=T+_KVD_P#0A0!X=1110![5^S=_R->L?]>(_P#0UKVOXCV3 M7_PX\0VZJ6;[#)(%`R25&X?^@UXI^S=_R->L?]>(_P#0UKZ0FA2X@DAE7='( MI1AZ@C!H`^!:*T->TJ70M?U#2I@1):7#PDGOM)`/XC!_&L^@`K[I\-ZHFM^& M=+U.-MPNK6.4GW*C(/N#D5\+5]%_L_\`CB";3&\(WTP2Y@9I++<<>8A^9D'N M#D_0^U`'N5%%%`!7QY\8M776/BAK$D;!HK=UM4(_V%`;_P`>W5]*_$;QO;>! MO"T]\SH;^8&.RA/)>3'4C^ZO4_EU(KXRDD>:5Y9'+R.Q9F8Y))ZDT`-HHHH` M^@OV:;%EM_$-^P^5W@A0^X#EO_0EKM?CG_R2?4_^NL'_`*-6CX(:(=&^&5E) M(FV:_=[M_HW"_P#CJJ?QH^.?_))]3_ZZP?\`HU:`/DBBBB@#H/`G_)0O#7_8 M5M?_`$:M?;M?$7@3_DH7AK_L*VO_`*-6OMV@`HHHH`RO$W_(J:Q_UXS_`/H! MKX7K[H\3?\BIK'_7C/\`^@&OA>@`HHHH`^Z/#/\`R*FC_P#7C!_Z`*NWL?FV M,R#J4./K5+PS_P`BIH__`%XP?^@"M6HJ052#@]FK#B[.YQ%%6+Z#[->218X! MROT[57K\NJ4Y4YN$MT['NQ:DKH*MZ9_R$H/]ZJE6],_Y"4'^]6V#_P!YI_XE M^9-3X'Z'64445^G'AA144]Q%;)OE<*/?O6)=ZY))E+8;%_O'J?\`"N'&9CA\ M(OWCU[+P6BYE?GLHY)K"N]9GN,K%^ZC]NI_&LYF9V+,2S'J2 MK"BBBO%.D*U]`CW7,LG95Q^?_ZJR*Z; M1H/)L`Q'S2'=^':O8R*@ZN,B^D=?\OQ.;%2Y:;\S1HHHK[\\D****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"H M+V[@T^QN+RY<)!;QM+(Q_A51DG\A4]>5_'OQ+_8W@3^S(9-MSJLGDX'7REP7 M/_H*_P#`J`/FGQ%K4_B+Q%J&L7&?,NYVEP?X03POX#`_"LRBB@`KZ8_9V\/? M8?"E[KLJ_O-1F\N,_P#3./(_5BW_`'R*^;;2UFOKV"TMT+SSR+%&H[LQP!^9 MK[E\/Z1#H'A[3](@YCL[=(<_WB!R?Q.3^-`&E1110`4444`%>:?'/P[_`&W\ M.Y[J)-UQID@NE/?9TJL MX:=XA'5>ZGX:F?Y9E^UVX/]X85Q^(VG_@)H M`]*^,>B-KGPRU5(TW36@6[CX_N'+?^.;J^/J^^Y(TEC:.10R,"K*PR"#U!KX MN^(?A";P7XPN],*-]D9C+:.?XXB>.>Y'W3[B@#E:***`/2/`GQEUSP7:)ITL M*:EIB?ZN"5RKQ>R/@X'L0?;%>EQ_M(Z`8LRZ)J:R8^ZK1L/SR/Y5\V44`>V> M)_VB=3O[:2V\/Z:NG;Q@W4S^9(!_LK@!3]=U>+2RR3S/--(TDKL6=W.2Q/)) M)ZFF44`%%%%`'8_"C_DJ7A__`*^?_937V97QG\*/^2I>'_\`KY_]E-?9E`'" M_&2T:\^%&NH@!9$CE&>P65&/Z`U\>5]XZOIT.L:->Z9<#]S=P/`_T92/ZU\, MZKIMSHVK7>FWB%+FUE:*13Z@X_*@"I1110![GX-_:#_LO1X-.\1:;/=/;H(T MNK9@7=1P-RL1SCOGGTK-6U>"(BQU;,N0.%F'WQ^/#?\"/I7E=?;GC7PG9^-/#% MSH]WA6?YX)L9,4H^ZWZX/J":^,]X(Y!H`S MZLV%_=Z7?PWUA<26]U`V^.6-L,IJM10![9H?[1VKVEND.LZ-;Z@RX!GAE,#$ M>I&&!/TP*GUC]I*_FA>/1]!@M7(PLUS,9<>^T!>?Q->&44`7M8UG4=?U*74= M5O);N[E^])(?T`Z`>PX%4:**`"NQ^&/A)_&/C>RLGB+V4+"XO#C@1J>A_P!X MX7\:Y2UM;B^NXK6UA>:XF<)''&N69CT`%?7WPM\`Q^!/#(AG"/JMUB2\E7G! M[(#Z+G\22>]`'<]*HZS_`,@+4/\`KVD_]!-7JHZS_P`@+4/^O:3_`-!-`'PA M1110`5]N^!/^2>^&O^P5:_\`HI:^(J^W?`G_`"3WPU_V"K7_`-%+0!T%%%%` M!535-,M-9TNYTV_A$UK#9+F"U\66 M<18P*+>]"CHF?D?Z`D@_4>E?/-`!7J?PB^*.*\LHH`^X--\:>&-7B$EAK^G3`C.T7"AA]5)R/Q%0ZIX^\):,C- M?>(=.0@9V).)'_[Y7)_2OB6B@#W;QY\?VO+:73O"44L"N"KW\PVOC_IFO;_> M//L.M>%,S.Q9B68G)).23244`%%%%`'T]^SE_P`D]O\`_L*R?^BHJ]?KR#]G M+_DGM_\`]A63_P!%15Z_0!\':K:?8-8OK/&W[/<218]-K$?TJG7HOQL\.OH/ MQ'O9UCVVVI?Z7$0."S??'UW`G\17G5`!7I/PS^+5UX#BET^YM#?:7+)YFQ7V MO$V,$KG@@X&1^/KGS:B@#Z6E_:0\."+,.C:J\F/NOY:C/U#'^5<%XH^/WB36 MH9+;28(M'@<8+Q,9)L>SD`#\`#[UY-10!][V9+64!)))C4DGZ5\\_M*?\AW0 MO^O:3_T(5]"V7_'C;_\`7)?Y5\]?M*?\AW0O^O:3_P!"%`'AU%%%`'M7[-W_ M`"->L?\`7B/_`$-:^DZ^;/V;O^1KUC_KQ'_H:U])T`?-O[0WA)K+7;;Q/;Q_ MZ/?*(;@@?=E4<$_[RC_QTUXI7W3XCT"R\4:!=Z/J";K>Y3:2.J'J&'N#@U\8 M^*_"^H^#_$%QI&I)B2,YCD`^65#T=?8_IR.U`&)4D$\UK<1W%O*\4T3!TD1L M,K#D$$=#4=%`'LGA_P#:(U[3;1+?6--M]5V#`F$A@D;_`'B`P)_`5J:I^TI< MO"R:3X=BBD(XENK@N`?]U0/_`$*O!Z*`-7Q#XDU;Q3JCZCK%X]S<-P,\*@_N MJO0#Z5E444`%;W@SPS<>+O%EAHT`;;-(#,X_Y9Q#EV_`9Q[X%8:(\LBQQJSN MQ"JJC))/0`5]7_!WX=GP9H37^H1`:S?J#*#U@CZB/Z]S[X':@#TBWMXK2VBM MH$"0Q((T0=%4#`'Y5Y[\<_\`DD^I_P#76#_T:M>C5YS\<_\`DD^I_P#76#_T M:M`'R11110!T'@3_`)*%X:_["MK_`.C5K[=KXB\"?\E"\-?]A6U_]&K7V[0` M4444`97B;_D5-8_Z\9__`$`U\+U]T>)O^14UC_KQG_\`0#7PO0`4444`?='A MG_D5-'_Z\8/_`$`5JUE>&?\`D5-'_P"O&#_T`5JT`9&N6GF0K<(/F3AOI7/U MVQ`8$$9!X(KEM2L6LY^`3$W*G^E?(<09>XR^M06CW]>_]?J>C@ZUUR,I5/92 MK!>12/\`=5N?I4%%?-4YNG-3CNG<[6KJS.S,\*Q^894"8SNSQ61=ZZ!E+5<_ M[;#^0K#HKW,5Q#B*L>6FN3\7_P``Y88.$7>6H^6629R\CEF/?Q2U?EV1Y.)J^T MEILAU%8NG>,/#>KWGV/3M>TVZN3G$4-RC,<>@!Y_"MJO8.8****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"ODG MXW>)?[?^(ES;Q2;K73%^R1X/&X01G'O7FLOP*\$3S/-+;W MSR2,6=FNVRQ/))H`^3**^L/^%"^!?^?2\_\``IJ/^%"^!?\`GTO/_`IJ`/'/ M@5X=_MOXAPWDJ;K;2XS/[4RM M*TDA=FVYP,GL,G\S724`%%%%`!1110`4444`?-'[1/AW[#XILM=BCQ%J$/ER MD#CS8\#)^JE?^^37C-?Z M";.8B&]AR]I=8R8V[@^JGN/H>U=%I.F6^BZ1::9:F0V]K$(HO,;<0HX`S[#B MKE`'PUXD\+:QX2U1]/UBS>"4$['ZI*/[R-T(_P`G!K'K[NU;1=,UZR:SU6Q@ MO+=OX)D#`'U'H?<5Y7K7[.OAN]=I-)U"\TTGI&V)XU^@.&_\>H`^9:*]SD_9 MJU$.1'XDM67L6MF!_+)J>R_9JF,P-_XEC$0/*P6I)/XEN/R-`'@P!8@`$D\` M#O7II^%EUHWPHUCQ5KD30WA2$6=JPPT0::,%W'8D$@#L#SST]W\)?";PKX0E M2YM;1KN^3I=79#NI]5&`J_4#/O72^(=`L/$^AW.CZFCO9W&WS%1RI.U@PY'N MHH`^%:*^L/\`A0O@7_GTO/\`P*:C_A0O@7_GTO/_``*:@#P#X4?\E2\/_P#7 MS_[*:^S*X'1?@YX0T#6;75;"WNENK9]\9:X9@#C'(_&N^H`*\6^-/PKFU\MX MFT&#S-1C0"[MD'S7"@<,OJX'&.X`QR,'VFB@#X#=&1V1U*LIP5(P0:2OLOQ7 M\+O"OC"1[B_L##>MUN[5O+D/N>,,?]X&O-KW]FF)I-UAXF=(_P"Y/:!C_P!] M!A_*@#Y]HKWR']FB3S!Y_BE0G<1V.2?S?BNGTC]GOPE8LKW\U]J3#JDD@C0_ M@@!_\>H`\=^"*._Q\59:[\`?"&J2-+8_:]+E/.VWDWQY_W6S^0(H`^5J*]WN/V:KQ M9/\`1O$T#I_TUM"I_1C3(OV:K]I`)O$MLB=REJS'\BP_G0!X76KH'AO5_$^H MK8Z/8RW4YQNV#Y4'JS=%'N:^B]%_9Y\+6#K)J=U>ZFPZHS"&,_@OS?\`CU>H M:7I&G:)9+9:7906=LO2.%`HSZG'4^]`'"?#/X36/@>(7]XZ7FMR+AI@/D@!Z MK'G]6ZGV[^D444`%4=9_Y`6H?]>TG_H)J]4=Q`ES;2V\F?+E0HV#V(P:`/@: MBOK#_A0O@7_GTO/_``*:C_A0O@7_`)]+S_P*:@#Y/K[=\"?\D]\-?]@JU_\` M12UR7_"A?`O_`#Z7G_@4U>AZ;80:5I=IIUJ&%O:0I!$&.2$50HR>_`%`%JBB MB@`HHHH`*^?AG_P`E,\._]?T?\Z^TZ\_TCX,^#]$U>UU2RMKI;JUD$L1:X9@& M'3([UZ!0!%@12WVC MDEC&H+2VWL1U91_>_/U/U)10!\!45]E>)/A7X0\42-/>Z4D-TW6XM#Y3D^IQ MPQ]R#7GM_P#LU6#L3IWB2YA7LMQ;++G\59?Y4`?.]%>])^S1.6_>>*HU7U6Q M)/\`Z,%=/H_[//A6QE$FHW-]J1'_`"S9Q%&?P7YO_'J`/G;PYX7UCQ9J:Z?H M]F]Q*<;V'"1C^\S=`/\`(S6G\0?"*>"?$46C+<&XD6TCDFEQ@%VSG`].PK[% MTO2-.T2R6RTNR@L[9>D<*!1GU..I]ZYCQ-\+/"_B[6#JFK07#W1C6/,$=)\&:7+IVCQRQV\DQG822%SO*JIY/LHK=H`X_XC>!+;Q[ MX<-DS+#?0$R6=P1]Q^X/^R>A_`]J^0M:T34?#VJS:;JMK);741PR..H[$'N# MV(X-?=M8OB+PGH?BRS%MK6G0W2KG8[##Q_[K#D?@:`/ARBOH[5?V;=)G=FTK M7KNT!.0EQ"LP'MD%3_.LI?V:+DL-WBF(+W(LB3_Z'0!X-2HC.ZHBEF8X"@9) M-?2>F?LX:#`RMJ6LW]YCJL2+"K?^A']:]&\.^`_#'A7#:1H]O#,!CSV'F2_] M]MDC\#0!NV8(LK<$8(C7^5?//[2G_(=T+_KVD_\`0A7T97*>+?AWX?\`&US; M7&M0SR26R%(_+F*8!.3TH`^+:*^L/^%"^!?^?2\_\"FH_P"%"^!?^?2\_P#` MIJ`/.?V;O^1KUC_KQ'_H:U])UR7A/X<>'?!5]/=Z-#/'+/'Y3F28N"N0>_N* MZV@`KF/&_@72?'6D?8M10QSQY-O=(/GA8^GJ#W'?V.".GHH`^+?&?P\U_P`$ M7C)J-J9+,MB*]B!,3CMS_"?8\_7K7*5]]30Q7,+PSQ)+$XPR.H96'H0>M>:Z M_P#`GP;K+M-;03Z7,QSFS?"$_P"XP(`]EQ0!\GT5[S=_LTW`D)L_$T3)G@36 MA4@?4,<_I4,?[-6HEP)/$EJJ]RMLQ/Y9%`'AE7M)T;4M=OTL=*LIKNY?I'$N M3]3Z#W/%?1>C_LZ>'+-T?5=2O=19>J+B"-OJ!EOR:O4M%\/:1X?^!34?\*%\"_\^EY_X%-0!\W^!/\`DH7AK_L*VO\` MZ-6OMVO/--^"G@S2M4M-1M;:[%Q:3)/$6N6(#JP89'?D"O0Z`"BBB@#*\3?\ MBIK'_7C/_P"@&OA>OO>\M8KZQN+28$Q3QM$X!P=K#!_0UYQ_PH7P+_SZ7G_@ M4U`'R?17UA_PH7P+_P`^EY_X%-1_PH7P+_SZ7G_@4U`'<>&?^14T?_KQ@_\` M0!6K4-G:Q6-C;VD((B@C6)`3D[5&!^@J:@`J.>".XB:*5A`DO:MC_8;^AKX_,<@ MG!N>&U7;JO3O^9Z-'%IZ3W,.BI)K>:W;;+&R'W%1U\Y*$H/EDK,[$T]4%%%% M2,**`"3@#)K0MM'N;@@LOE)ZMU_*MJ&&JUY3**(TCA$4LQX`' M>NBTS2Q:XFEYF(X'9:LVEA!9K^[7+GJYZFK5?8Y7DD<.U5K:RZ+HO\V>=7Q3 MG[L=@KB_&D,>I^(_"VB7P#:5>7$TMQ&QPLSQ)NCC;U!.6QWV5VE9FNZ%9>(; M`6EZ)%V2++#-"^R2&1?NNC#HP_\`K'(-?0'&>)Z"D_B+1K*VUB>[A@319;]I MKRZ5PQ'^KFMP!F,HRY.",`@$$&O9_"E]=:GX0T:^OEVW=Q90RS<8^9D!)QVS MUQ7/_P#"MH+J&QL]5U6:]TZQ!$-FMK!`I''RL8T!VG`RHP#WS7;JJHH50%4# M``&`!0`M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`",H888`CT-59-,LY>L"@_P"SQ_*K=%95*-*JK5(I M^JN5&4H[,SO[$LO[C_\`?5.71[)3GRBWU8U?HK!9=A$[^RC]R*]M4_F9%%;P MP_ZJ)$^@J6BBNJ,8Q5HJR(;;W"BBBJ$%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 I44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`?_]D_ ` end