-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IMYxk+3eb2APfYsWvpAdEPjBBuNJNoSg9/GeF+fY0AZwBbTAOtdfkuoVI3r2Bke3 hJh5hzGviCnQ/RKJFhnvHw== 0000760775-96-000003.txt : 19960410 0000760775-96-000003.hdr.sgml : 19960410 ACCESSION NUMBER: 0000760775-96-000003 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951230 FILED AS OF DATE: 19960209 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: WLR FOODS INC CENTRAL INDEX KEY: 0000760775 STANDARD INDUSTRIAL CLASSIFICATION: POULTRY SLAUGHTERING AND PROCESSING [2015] IRS NUMBER: 541295923 STATE OF INCORPORATION: VA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-17060 FILM NUMBER: 96514242 BUSINESS ADDRESS: STREET 1: P O BOX 7000 CITY: BROADWAY STATE: VA ZIP: 22815 BUSINESS PHONE: 7038674001 MAIL ADDRESS: STREET 1: 800 CO OP DRIVE CITY: TIMBERVILLE STATE: VA ZIP: 22853 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE ROCKINGHAM INC DATE OF NAME CHANGE: 19881114 FORMER COMPANY: FORMER CONFORMED NAME: WAMPLER LONGACRE INC DATE OF NAME CHANGE: 19880209 10-Q 1 QUARTERLY REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended December 30, 1995 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to _________ COMMISSION FILE NUMBER 0-17060 WLR FOODS, INC. (Exact name of Registrant as specified in its charter) Virginia 54-1295923 (State or other jurisdiction (I.R.S. Employer of incorporation) Identification No.) P.O. Box 7000 Broadway, Virginia 22815 (Address including Zip Code of Registrant's principal executive offices) (540) 896-7001 (Registrant's telephone number, including area code) Indicate by cross mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes (X) No () The number of shares outstanding of Registrant's Common Stock, no par value, at February 1, 1996 was 17,621,607 shares. PART 1. FINANCIAL INFORMATION Item 1. Financial Statements WLR FOODS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS
Thirteen weeks ended (unaudited) In thousands, except per share data Dec. 30, 1995 Dec. 31,1994 Net sales $267,795 $247,840 Cost of sales 233,533 210,840 -------- -------- Gross profit 34,262 37,000 Selling, general and administrative expenses 24,343 23,814 -------- -------- Operating income 9,919 13,186 Other expense: Interest expense 2,097 1,623 Miscellaneous expense/(income), net (62) 509 -------- -------- Other expense 2,035 2,132 -------- -------- Earnings before income taxes and minority interest 7,884 11,054 Income tax expense 3,036 4,256 Minority interest in net earnings of consolidated subsidiary 5 13 -------- -------- NET EARNINGS $4,843 $6,785 ====== ====== NET EARNINGS PER COMMON SHARE $0.28 $0.37 AVERAGE COMMON SHARES OUTSTANDING 17,591 18,300 DIVIDENDS DECLARED PER COMMON SHARE $0.06 $0.06 See accompanying Notes to Consolidated Financial Statements.
1 WLR FOODS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS
Twenty-six weeks ended (unaudited) In thousands, except per share data Dec. 30, 1995 Dec. 31, 1994 Net sales $518,593 $458,125 Cost of sales 449,344 389,016 -------- -------- Gross profit 69,249 69,109 Selling, general and administrative expenses 50,383 44,100 -------- -------- Operating income 18,866 25,009 Other expense: Interest expense 4,182 2,953 Miscellaneous expense/(income), net (203) 397 -------- -------- Other expense 3,979 3,350 -------- -------- Earnings before income taxes and minority interest 14,887 21,659 Income tax expense 5,727 8,339 Minority interest in net earnings of consolidated subsidiary 21 27 -------- -------- NET EARNINGS $9,139 $13,293 ====== ======= NET EARNINGS PER COMMON SHARE $0.52 $0.75 AVERAGE COMMON SHARES OUTSTANDING 17,413 17,730 DIVIDENDS DECLARED PER COMMON SHARE $0.12 $0.11 See accompanying Notes to Consolidated Financial Statements.
2 WLR FOODS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
Dollars in thousands (unaudited) ASSETS Dec. 30, 1995 July 1, 1995 Current Assets Cash and cash equivalents $ 660 $ 706 Accounts receivable, less allowance for 66,019 63,194 doubtful accounts of $615 and $613. Inventories (Note 2) 126,320 125,849 Other current assets 1,904 3,183 -------- -------- Total current assets 194,903 192,932 Investments 1,313 949 Property, plant and equipment, net 183,413 174,163 Other assets 5,592 4,481 -------- -------- TOTAL ASSETS $385,221 $372,525 ======== ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Notes payable to banks $ 2,750 $ - Current maturities of long-term debt 8,054 8,028 Excess checks over bank balances 12,778 3,948 Trade accounts payable 35,770 28,021 Accrued expenses 16,778 22,036 Deferred income taxes 9,315 9,299 Other current liabilities 1,054 1,038 -------- -------- Total current liabilities 86,499 72,370 Long-term debt, excluding current maturities 93,907 106,481 Deferred income taxes 9,527 8,730 Minority interest in consolidated subsidiary 548 527 Other liabilities and deferred credits 3,381 3,323 -------- -------- Total liabilities 193,862 191,431 Common stock subject to repurchase 17,750 17,750 Shareholders' equity: Common stock, no par value. Authorized 100,000,000 shares; issued and outstanding 17,563,803 and 17,297,671 shares. 60,058 56,782 Additional paid-in capital 2,972 3,014 Retained earnings 110,579 103,548 -------- -------- Total shareholders' equity 173,609 163,344 -------- -------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $385,221 $372,525 ======== ======== See accompanying Notes to Consolidated Financial Statements.
3 WLR FOODS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited) Twenty-six weeks ended Dollars in thousands CASH FLOWS FROM OPERATING ACTIVITIES: Dec. 30, 1995 Dec.31,1994 Net earnings $ 9,139 $13,293 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 13,776 12,006 Gain on sale of property, plant and equipment (2) (32) Deferred income taxes (242) 3,397 Other, net 299 454 Change in operating assets and liabilities: (net of acquired assets) (Increase) decrease in accounts receivable (2,670) 10,386 (Increase) decrease in inventories 2,393 (2,262) (Increase) decrease in other current assets 1,446 (2,398) Increase (decrease) in accounts payable 7,079 (2,464) Decrease in accrued expenses and other (5,466) (2,105) ------- ------- Net Cash Provided by Operating Activities 25,752 30,275 CASH FLOWS FROM INVESTING ACTIVITIES: Additions to property, plant and equipment (10,415) (7,072) Net cash used in acquisition, (including costs) (10,563) (40,130) Proceeds from sales of property, plant and equipment 252 84 Investments in other assets 158 57 Minority interest in net earnings of consolidated subsidiary 21 28 ------- ------- Net Cash Used in Investing Activities (20,547) (47,033) CASH FLOWS FROM FINANCING ACTIVITIES: Principal payments on long-term debt (12,548) (1,135) Proceeds from long-term debt - 25,000 Notes payable to banks (net of principal payments) 2,750 (4,400) Increase (decrease) in excess checks 8,830 (938) Issuance of common stock 629 211 Repurchase of common stock (2,820) - Dividends paid (2,092) (1,857) ------- ------- Net Cash Provided by (Used in) Financing Activities (5,251) 16,881 ------- ------- Increase (decrease) in Cash and Cash Equivalents (46) 123 Cash and Cash Equivalents at Beginning of Fiscal Year 706 771 ------- ------- Cash and Cash Equivalents at End of Period $ 660 $ 894 ======= ======= Supplemental cash flow information: Cash paid for: Interest $ 4,042 $ 2,702 Income taxes 2,401 7,119
The Company considers all highly liquid investments of maturity of 3 months or less at purchase to be cash equivalents. Non cash transactions: The Company issued 411,216 shares of common stock valued at $5.4 million for the acquisition of New Hope Feeds, Inc. on September 29, 1995. (Note 3) See accompanying Notes to Consolidated Financial Statements. 4 Notes to Consolidated Financial Statements WLR Foods, Inc. and Subsidiaries 1. Accounting Policies The consolidated financial statements presented herein, include the accounts of WLR Foods, Inc. and its wholly-owned and majority-owned subsidiaries. All material balances have been eliminated in consolidation. The consolidated balance sheet as of December 30, 1995, the consolidated statements of earnings for the thirteen week and twenty-six week periods ended December 30, 1995 and December 31, 1994, and the consolidated statements of cash flows for the twenty-six weeks ended December 30, 1995 and December 31, 1994 are unaudited. In the opinion of management, all adjustments necessary for fair presentation of such consolidated financial statements have been included. Such adjustments consisted only of normal recurring accruals and the use of estimates. Interim results are not necessarily indicative of results for the entire fiscal year. The consolidated financial statements and notes are presented as permitted by Form 10-Q and do not contain certain information included in the Company's annual consolidated financial statements and notes. The Company's unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Annual Report to Shareholders for the fiscal year ended July 1, 1995. In both, the accounting policies and principles used are consistent in all material respects. Certain fiscal 1995 amounts have been reclassified to conform with fiscal 1996 presentations. 2. Inventories A summary of inventories at December 30, 1995 and July 1, 1995 follows: (unaudited) Dollars in thousands Dec. 30, 1995 July 1, 1995 Live poultry and breeder flocks $ 64,199 $54,487 Processed poultry and meat products 29,623 41,262 Packaging supplies, parts and other 19,987 19,704 Feed, grain and eggs 12,511 10,396 -------- -------- Total inventories $126,320 $125,849 ======== ======== 3. Acquisition of New Hope Feeds, Inc. and an affiliated company. On September 29, 1995, the Company acquired the chicken processing and production assets of New Hope Feeds, Inc. and an affiliated company for $10.5 million in cash and 411,216 shares of common stock valued at $5.4 million. The acquisition was accounted for as a purchase and, accordingly, the assets of New Hope Feeds are included in the Company's consolidated financial statements as of the acquisition date. The transaction was recorded at the fair value of assets acquired and liabilities assumed as follows: 5 Dollars in thousands Inventories $ 2,864 Other current assets 283 Property, plant & equipment 12,900 Other assets 1,932 ------- Total assets acquired 17,979 Cash paid (including costs) 10,563 Issuance of common stock 5,425 ------- Total liabilities assumed $ 1,991 ======= Due to the immaterial size of New Hope Feeds, Inc., relative to WLR Foods historical results, proforma comparisons are not provided. Subsequent to the end of the quarter, WLR Foods issued 45,720 additional shares of common stock for the final settlement of the New Hope acquisition. 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations General WLR Foods, Inc. (the Company) is a fully-integrated poultry production, processing and marketing business with operations in Virginia, West Virginia, Pennsylvania and North Carolina. Effective October 9, 1995 the Company eliminated the second shift of production at the Marshville, North Carolina turkey processing plant. This move eliminated approximately 350 jobs, although a formal layoff was not necessary. Normal attrition of employees allowed the company to adjust the workforce to the lower level of staffing. Management expects the annual savings to be approximately $4.0 million before taxes from the lower staffing and increased efficiencies at the Marshville turkey processing plant. Subsequent to the close of the second quarter WLR Foods issued 45,720 shares of common stock to finalize the acquisition of New Hope Feeds, Inc. and a related company. The total shares issued for the purchase were 456,936 valued at $6.03 million in addition to $10.5 million in cash paid including costs related to the purchase. The Company's stock repurchase program, started in February 1995, remained in effect through the quarter. Through January 31, 1996, the Company repurchased a total of 1.3 million shares for $19.2 million and management anticipates continuing the program through the fiscal year, as market conditions allow. On December 21, 1995, Tyson Foods, Inc. filed a petition with the United States Supreme Court, requesting an appeal of the September 22, 1995 lower court ruling. The petition is a continuation of Tyson Foods attempt to gain control of WLR Foods through a hostile takeover attempt. It is anticipated the Supreme Court will grant or deny the petition's request by summer 1996. The following tables of Changes in Results of Operations show dollars and percentage changes in the components of operating results over the past thirteen weeks (quarter) and twenty-six weeks (year-to-date) compared to the corresponding period in fiscal 1995. 7 Changes in Results of Operations Thirteen-weeks ended Dec. 30, 95 vs. Dec. 31, 94 In millions, except earnings $ Increase % Change per share (Decrease) Net sales $20.0 8.1% Cost of sales 22.7 10.8 ----- ---- Gross profit (2.7) (7.4) Selling, general and administrative expenses 0.6 2.2 ----- ---- Operating profit (3.3) (24.8) Interest expense 0.5 29.2 Other income (expense), net (0.6) (112.2) Earnings before income taxes and ----- ---- minority interest (3.2) (28.7) Income tax expense and minority interest (1.3) (28.8) ----- ---- Net earnings ($1.9) (28.6) ===== ==== Net earnings per common share ($0.09) (24.3) ===== ==== Changes in Results of Operations Twenty six-weeks ended Dec. 30, 95 vs. Dec. 31, 94 In millions, except earnings $ Increase % Change per share (Decrease) Net sales $60.5 13.2% Cost of sales 60.3 15.5 ----- ---- Gross profit .2 .2 Selling, general and administrative expenses 6.3 14.2 ----- ---- Operating profit (6.1) (24.6) Interest expense 1.2 41.6 Other income (expense), net (0.5) (151.1) Earnings before income taxes and ----- ---- minority interest (6.8) (31.3) Income tax expense and minority interest (2.6) (31.3) ----- ---- Net earnings ($4.2) (31.2) ===== ==== Net earnings per common share ($0.23) (30.7) ===== ==== For the periods indicated, the following tables set forth selected information from the Company's Consolidated Statements of Earnings expressed as a percentage of net sales. 8 Operations as a Thirteen-weeks ended Percentage of Net Sales Dec. 30, 95 vs. Dec. 31, 94 Net sales 100.0% 100.0% Cost of sales 87.2 85.1 ----- ----- Gross profit 12.8 14.9 Selling, general and administrative expenses 9.1 9.6 ----- ----- Operating profit 3.7 5.3 Interest expense 0.8 0.7 Other (income)/expense - 0.2 Earnings before income taxes and ----- ----- minority interest 2.9 4.4 Income tax expense and minority interest 1.1 1.7 ----- ----- Net Earnings 1.8% 2.7% ===== ===== Operations as a Twenty-six-weeks ended Percentage of Net Sales Dec. 30, 95 vs. Dec. 31, 94 Net sales 100.0% 100.0% Cost of sales 86.6 84.9 ----- ----- Gross profit 13.4 15.1 Selling, general and administrative expenses 9.7 9.6 ----- ----- Operating profit 3.7 5.5 Interest expense 0.8 0.7 Other (income)/expense - 0.1 Earnings before income taxes and ----- ----- minority interest 2.9 4.7 Income tax expense and minority interest 1.1 1.8 ----- ----- Net Earnings 1.8% 2.9% ===== ===== Results of Operations Net sales increased $20.0 million for the thirteen weeks ended December 30, 1995, due to increased volumes sold and somewhat higher prices. Sales volumes increased nearly 17% in chicken and 1% in turkey. The significant increase in chicken sales volume is mainly the result of the acquisition of the Goldsboro, N.C. complex, while the turkey sales growth was slowed by reduced flock sizes due to disease in the North Carolina turkey operation. Average quoted commodity prices for whole chicken and turkey were up 17.5% and 7.5%, respectively, offset somewhat by lower dark turkey meat prices. 9 For the twenty-six weeks, net sales increased $60.5 million due to increased volumes sold and higher prices. Sales volumes increased 13.8% for turkey and 10.2% for chicken, mainly the result of acquisitions of the turkey and chicken operations in North Carolina in August 1994 and late September 1995, respectively. Average quoted commodity prices were higher on a year-to-date comparison for chicken and turkey with the exception of dark turkey meat products. Average quoted chicken prices were 13.3% higher while average quoted turkey prices were 4.7% higher than the same period last year. Cost of sales was up $22.7 million for the quarter, the result of higher volumes sold, higher feed costs and the impact of disease in the North Carolina turkey operation. Feed costs on a quarter-to- quarter comparison were up $10 million. Corn prices averaged 44% higher than second quarter last year, while soybean meal increased 20.4% for the same period. On a year-to-date basis, cost of sales was up $60.3 million, due to higher volumes sold and increased feed costs. Disease in the turkey operation in North Carolina also contributed to the increase for the period. The Company adopted bio-security measures and management practices, which together with a new drug made available in the fall, should help better avoid or control the North Carolina disease next year. Since the disease is triggered by heat, the remainder of the current fiscal year is not expected to be impacted by the effects of the disease. Gross profit decreased $2.7 million for the thirteen weeks due to higher costs, which were somewhat offset by higher volumes sold and increased selling prices. Disease and feed were the most significant costs that impacted the quarter. The impact of disease in the second quarter was approximately $3.1 million. On a year-to date basis, gross profit rose $0.2 million compared to the same period last year. Higher sales volumes and prices were offset by higher feed costs and the impact of disease in North Carolina turkey flocks. The change to a single shift at the Marshville turkey processing plant in October, had a slightly favorable effect in the second quarter this year. The annual savings are projected at approximately $4 million before taxes. Selling, general and administrative expenses increased $0.6 million for the quarter, due to higher sales volumes and increased delivery and selling costs. The growth in export sales volumes over the same period last year, along with higher volumes of domestic sales increased delivery costs. Lower profits reduced discretionary bonus accruals thereby reducing administrative costs. The Goldsboro chicken production was assimilated into sales and delivery operations with nominal increases to selling, general and administrative costs. This will be the normal operating status of the Goldsboro division. For the twenty-six weeks, selling, general and administrative expenses were up $6.3 million over last year. Higher volumes sold, particularly to export customers resulted in increased delivery costs. Additionally, costs of the North Carolina turkey operation were included for the full twenty-six weeks this year compared to twenty- one weeks last year. This year, additional sales volumes of further processed products increased promotional costs. 10 Operating profits were down $3.3 million for the thirteen weeks, due mainly to lower gross margin levels and somewhat higher incremental selling and delivery costs. For the twenty-six weeks, operating profits dropped $6.1 million, mainly a result of higher selling and administrative costs. Interest expense was up $0.5 million for the thirteen weeks, due to higher levels of borrowing for acquisitions and the repurchase of the Company's common stock. Miscellaneous income was up $0.6 million, mainly the result lower bad debt charges in the current period compared to last year. For the twenty-six-week period, interest expense is up $1.2 million, a result of higher levels borrowed. Other income increased $0.5 million due to lower bad debt charges than the same period last year. Net income decreased $1.9 million for the thirteen weeks compared to the same period last year. For the twenty-six weeks, net income was down $4.2 million. For both comparisons, feed costs and disease impacted the overall performance of the company by reducing the gross margin. Strong performances in chicken and the Cassco operations helped offset somewhat higher costs in other areas of the business. Looking forward to the remainder of fiscal 1996, the Company anticipates the highest feed costs since the early-to-mid 1980's. The higher feed costs are expected to increase operation costs by approximately $20 million in the third quarter. Additionally, in January, a severe snow storm and flooding in the mid Atlantic region impacted live performance of flocks and production operations, the impact of which will be seen in the third quarter. Financial Condition and Liquidity WLR Foods closed the second quarter of fiscal 1996 with a strong balance sheet. Working capital was $108.4 million, compared to $120.6 million at July 1, 1995. The current ratio remains strong at 2.3-to-1. Total assets were $385.2 million, reflecting the New Hope Feeds acquisition. The ratio of total debt to total capital, including common stock subject to repurchase as debt, was 41.4%. The Company's book value per common share was $10.90 as of December 30, 1995. Capital Resources Management expects the current $110 million revolving credit facilities will be adequate to meet operational needs, stock repurchases, debt service, dividends and acquisitions for the foreseeable future. As of December 30, 1995, the Company has $67.3 million available on revolving credit facilities. Capital spending for the twenty-six weeks was $10.4 million, of which $10.1 million was for normal replacements and upgrades of existing equipment and facilities. The remaining spending was for land purchased for the Richmond ice manufacturing facility. Depreciation expense was $13.8 million, along with $0.4 million in amortization expense of intangibles. 11 Capital spending for fiscal 1996 is projected at $30 million, including approximately $5 million for a new hatchery at the Goldsboro division chicken complex. Normal replacements and upgrades of equipment and facilities are expected to remain at $23 million, with the remaining $2 million committed for information system upgrades and enhancements. Plans are moving ahead with the construction of a Cassco ice manufacturing facility in Richmond, Virginia. Management is currently evaluating off-balance sheet leasing options for up to $5 million of expenditures during fiscal 1996. Depreciation and amortization projections remain at $27 million for the year, including the added depreciation from the Goldsboro division. The Board of Directors declared a $0.06 per share dividend payable on February 2, 1996 to shareholders of record as of January 12, 1996. Other WLR will adopt FASB Statement No. 123 Accounting for Stock-Based Compensation no later than Fiscal 1997. This requirement is for disclosure purposes and will not have an impact on the Company s results of operations or financial position. The Company s financial position has not materially changed since the fiscal year end. 12 PART III OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K (a) Exhibits Exhibit 27 Financial Data Schedule (b) Form 8-K Reporting Date December 21, 1995. Item Reported - Item 5, Other Events. WLR Foods, Inc. reported the filing by Tyson Foods, Inc. of a Petition for Writ of Certiorari with the United States Supreme Court, requesting an appeal of the September 22, 1995 decision of the Fourth United States Circuit Court of Appeals in favor of WLR Foods, Inc. and its directors, in the Company's litigation with Tyson Foods. 13 SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. WLR FOODS, INC. Date: 2/9/96_____________ By:/s/ James L Keeler__________________ Its President & Chief Executive Officer Date: 2/9/96_____________ /s/ Daniel R Detamore-Hunsberger_______ Assistant Treasurer 14 EXHIBIT INDEX Exhibit No. Description 27 Financial Data Schedule 15 EX-27 2 FINANCIAL DATA SCHEDULE
5 1,000 US DOLLARS 3-MOS JUN-29-1996 OCT-01-1995 DEC-30-1995 1 660 0 66,019 615 126,320 194,903 348,663 165,220 385,221 86,499 101,961 0 0 77,808 113,551 385,221 267,795 267,795 233,533 233,533 24,343 2 2,097 7,884 3,036 4,843 0 0 0 4,843 0.28 0.28
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