-----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, JaAoqwhRsNlSBSR/FvQx0QgPRNFvkJZpO8J3r1jOEcCyRKeExKtZ7vKL3CPio2I9 CW//sDyXYwlJMSOP5UrasQ== 0000950144-96-003319.txt : 19960613 0000950144-96-003319.hdr.sgml : 19960613 ACCESSION NUMBER: 0000950144-96-003319 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19960430 FILED AS OF DATE: 19960611 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PIEDMONT NATURAL GAS CO INC CENTRAL INDEX KEY: 0000078460 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS DISTRIBUTION [4924] IRS NUMBER: 560556998 STATE OF INCORPORATION: NY FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-06196 FILM NUMBER: 96579326 BUSINESS ADDRESS: STREET 1: 1915 REXFORD RD CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7043643120 MAIL ADDRESS: STREET 1: P.O. BOX 33068 CITY: CHARLOTTE STATE: NC ZIP: 28233 10-Q 1 PIEDMONT NATURAL GAS COMPANY, INC. 10-Q 4/30/96 1 ================================================================================ 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 EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 1996 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 1-6196 ------ PIEDMONT NATURAL GAS COMPANY, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) North Carolina 56-0556998 - -------------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1915 Rexford Road, Charlotte, North Carolina 28211 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 704-364-3120 ------------------------------ Indicate by check 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 --- --- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding at June 3, 1996 - -------------------------- --------------------------- Common Stock, no par value 29,222,487 ================================================================================ Page 1 of 13 pages 2 PART I. FINANCIAL INFORMATION Item 1. Financial Statements PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands)
April 30, October 31, ASSETS 1996 1995 ------ ---- ---- Utility Plant, at original cost $1,119,850 $1,074,666 Less accumulated depreciation 289,984 273,350 ---------- ---------- Utility plant, net 829,866 801,316 ---------- ---------- Other Physical Property (net of accumulated depreciation of $13,738 in 1996 and $12,869 in 1995) 26,744 26,299 ---------- ---------- Current Assets: Cash and cash equivalents 30,577 5,811 Restricted cash 19,746 17,948 Receivables (less allowance for doubtful accounts of $2,855 in 1996 and $972 in 1995) 87,940 21,118 Gas in storage 8,997 39,992 Deferred cost of gas 8,853 3,352 Refundable income taxes 510 15,265 Other 9,639 13,799 ---------- ---------- Total current assets 166,262 117,285 ---------- ---------- Deferred Charges and Other Assets 15,293 19,995 ---------- ---------- Total $1,038,165 $ 964,895 ========== ========== CAPITALIZATION AND LIABILITIES ------------------------------ Capitalization: Common stock equity: Common stock $ 237,852 $ 230,964 Retained earnings 174,196 124,015 ---------- ---------- Total common stock equity 412,048 354,979 Long-term debt 361,000 361,000 ---------- ---------- Total capitalization 773,048 715,979 ---------- ---------- Current Liabilities: Current maturities of long-term debt and sinking fund requirements 7,000 7,000 Notes payable - 13,500 Accounts payable 58,644 38,303 Deferred income taxes 18,843 14,166 Taxes accrued 18,099 9,008 Refunds due customers 14,482 22,289 Other 19,641 19,392 ---------- ---------- Total current liabilities 136,709 123,658 ---------- ---------- Deferred Credits and Other Liabilities 128,408 125,258 ---------- ---------- Total $1,038,165 $ 964,895 ========== ==========
See notes to condensed consolidated financial statements. -2- 3 PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES Condensed Statements of Consolidated Income (in thousands except per share amounts)
Three Months Six Months Twelve Months Ended Ended Ended April 30 April 30 April 30 -------- -------- -------- 1996 1995 1996 1995 1996 1995 ---- ---- ---- ---- ---- ---- Operating Revenues $259,472 $179,391 $498,632 $381,867 $621,987 $519,302 Cost of Gas 154,077 91,551 286,784 196,258 338,093 268,390 -------- -------- -------- -------- -------- -------- Margin 105,395 87,840 211,848 185,609 283,894 250,912 -------- -------- -------- -------- -------- -------- Other Operating Expenses: Operations 26,192 23,454 51,861 47,599 98,350 94,621 Maintenance 3,668 4,019 7,229 7,724 15,915 15,888 Depreciation 9,015 7,873 18,030 15,745 34,229 28,253 General Taxes 9,049 7,726 18,429 16,562 29,258 26,928 Income Taxes 19,584 14,488 39,508 32,329 29,257 21,803 -------- -------- -------- -------- -------- -------- Total other operating expenses 67,508 57,560 135,057 119,959 207,009 187,493 -------- -------- -------- -------- -------- -------- Operating Income 37,887 30,280 76,791 65,650 76,885 63,419 Other Income, Net 2,161 1,528 5,451 4,133 6,457 4,283 -------- -------- -------- -------- -------- ------- Income Before Utility Interest Charges 40,048 31,808 82,242 69,783 83,342 67,702 Utility Interest Charges 7,597 7,782 15,693 15,524 30,742 28,668 -------- -------- -------- -------- -------- -------- Net Income $ 32,451 $ 24,026 $ 66,549 $ 54,259 $ 52,600 $ 39,034 ======== ======== ======== ======== ======== ======== Average Shares of Common Stock Outstanding 29,032 27,475 28,970 27,063 28,836 26,756 Earnings Per Share of Common Stock $ 1.12 $ 0.87 $ 2.30 $ 2.00 $ 1.82 $ 1.46 Cash Dividends Declared Per Share of Common Stock $ 0.29 $ 0.275 $ 0.565 $ 0.535 $ 1.115 $ 1.055
See notes to condensed consolidated financial statements. -3- 4 PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES Condensed Statements of Consolidated Cash Flows (in thousands)
Three Months Six Months Twelve Months Ended Ended Ended April 30 April 30 April 30 -------- -------- -------- 1996 1995 1996 1995 1996 1995 ---- ---- ---- ---- ---- ---- Cash Flows from Operating Activities: Net income $ 32,451 $ 24,026 $ 66,549 $ 54,259 $ 52,600 $ 39,034 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 10,010 8,841 20,024 17,695 38,133 32,148 Other, net 1,905 1,721 4,310 4,232 9,991 6,419 Change in operating assets and liabilities 22,528 49,867 5,105 36,802 (26,838) 3,358 -------- -------- -------- -------- --------- --------- Net cash provided by operating activities 66,894 84,455 95,988 112,988 73,886 80,959 -------- -------- -------- -------- --------- --------- Cash Flows from Investing Activities: Utility construction expenditures (23,544) (22,784) (46,152) (46,187) (99,145) (108,791) Other (343) (414) (935) (1,254) (2,992) (2,812) -------- -------- -------- -------- --------- --------- Net cash used in investing activities (23,887) (23,198) (47,087) (47,441) (102,137) (111,603) -------- -------- -------- -------- --------- --------- Cash Flows from Financing Activities: Decrease in bank loans, net (20,000) (64,000) (13,500) (63,500) - - Issuance of long-term debt - - - - 55,000 40,000 Retirement of long-term debt - - - - (5,000) (5,000) Sale of common stock - 33,155 - 33,155 - 33,155 Expenses of sale of common stock - - - - (132) - Issuance of common stock through dividend reinvestment and employee stock plans 3,524 1,946 5,732 4,045 10,121 8,268 Dividends paid (8,420) (7,846) (16,367) (14,785) (32,146) (28,536) -------- -------- -------- -------- --------- --------- Net cash provided by (used in) financing activities (24,896) (36,745) (24,135) (41,085) 27,843 47,887 -------- -------- -------- -------- --------- --------- Net Increase (Decrease) in Cash and Cash Equivalents 18,111 24,512 24,766 24,462 (408) 17,243 Cash and Cash Equivalents at Beginning of Period 12,466 6,473 5,811 6,523 30,985 13,742 -------- -------- -------- -------- --------- --------- Cash and Cash Equivalents at End of Period $ 30,577 $ 30,985 $ 30,577 $ 30,985 $ 30,577 $ 30,985 ======== ======== ======== ======== ========= ========= Cash Paid During the Period for: Interest $ 5,744 $ 5,966 $ 14,653 $ 13,202 $ 28,762 $ 25,778 Income taxes $ 19,771 $ 28,927 $ 19,970 $ 29,051 $ 21,007 $ 32,825
See notes to condensed consolidated financial statements. -4- 5 PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) 1. The condensed consolidated financial statements have not been audited by independent auditors. These financial statements should be read in conjunction with the Notes to Consolidated Financial Statements included in the Company's 1995 Annual Report. 2. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements include all adjustments (consisting only of normal recurring accruals) necessary to present fairly the financial position of the Company at April 30, 1996, and October 31, 1995, and the results of its operations and its cash flows for the three months, six months and twelve months ended April 30, 1996 and 1995. 3. The Company's business is seasonal in nature. The results of operations for the three- and six-month periods ended April 30, 1996, are not necessarily indicative of the results to be expected for the full year. -5- 6 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Financial Condition The Company finances its current cash requirements through internally generated cash, the issuance of new common stock through dividend reinvestment and employee stock purchase plans and committed bank lines of credit totaling $57 million. In addition, the Company sells common stock and long-term debt to cover cash requirements when market or other conditions warrant such long-term financing. Because of the seasonal nature of the natural gas business, a substantial portion of the Company's earnings are realized in the winter period which is the first six months of the fiscal year. Injections of natural gas into storage occur during periods of warm weather (principally April 1 through October 31) for withdrawal from storage during periods of cold weather (principally November 1 through March 31). Due to this seasonality and the demand for gas during the winter season, inventory of stored gas decreased and receivables increased from October 31, 1995, to April 30, 1996. The Company has a substantial capital expansion program to sustain its approximately 6% current annual growth in customer base. The capital expansion program is dependent on the continuing ability to generate the necessary funds required for this growth. Utility construction expenditures for the three, six and twelve months ended April 30, 1996, were $24.2 million, $47.1 million and $100.7 million, respectively, as compared with $23.3 million, $47.2 million and $111.2 million, respectively, for similar prior periods. At April 30, 1996, the Company's capital structure consisted of long-term debt of 47% and common equity of 53%. Results of Operations Margin for the three months ended April 30, 1996, increased $17.6 million compared with the same period last year due to regulatory-approved rate changes and to greater volumes of gas sold, particularly to weather-sensitive residential and commercial customers on which a higher margin is earned. Delivered volumes of natural gas for the current three-month period increased over the similar prior period by 3.8 million dekatherms, a 9% increase. Weather for the three months ended April 30, 1996, was 26% colder than in the similar prior period. As a result, the weather normalization adjustment (WNA), in effect from November 1 through March 31, decreased operating revenues by $3 million for the three months ended April 30, 1996, as compared with an increase of $1.5 million for the similar prior period. -6- 7 Margin for the six months ended April 30, 1996, increased $26.2 million compared with the same period last year due to regulatory-approved rate changes and to greater volumes of gas sold, particularly to weather-sensitive residential and commercial customers. Delivered volumes of natural gas for the current six-month period increased over the similar prior period by 12.5 million dekatherms, a 15% increase. Weather for the six months ended April 30, 1996, was 29% colder than in the similar prior period. As a result, the WNA decreased operating revenues by $11.6 million for the six months ended April 30, 1996, as compared with an increase of $10.4 million for the similar prior period. Margin for the twelve months ended April 30, 1996, increased $33 million compared with the similar prior period due to regulatory-approved rate changes and greater volumes of gas sold, largely to residential and commercial customers. Weather for the twelve months ended April 30, 1996, was 25% colder than the similar prior period. The WNA decreased operating revenues by $11.6 million in the current period and increased operating revenues by $10.4 million in the similar prior period. Delivered volumes of natural gas for the current twelve months increased over the similar prior period by 13.5 million dekatherms, an 11% increase. The Company's rate schedules include gas cost recovery provisions that permit the recovery of prudently incurred gas costs, subject to annual prudence reviews covering an historical twelve-month period. Effective July 1, 1996, prudence reviews are no longer required in Tennessee as a result of the Tennessee Public Service Commission's (TPSC) approval of a performance incentive plan. The Company's rates are revised periodically without formal rate proceedings to reflect changes in the cost of gas. Charges to cost of gas are based on the amount recoverable under approved rate schedules. The net of any over- or under-recoveries of gas costs are charged or credited to cost of gas and included in refunds due customers. Operations and maintenance expenses for the three months, six months and twelve months ended April 30, 1996, increased over similar prior periods primarily due to increases in maintenance and repairs of mains, advertising, payroll and employee benefit costs. Depreciation expense for the three months, six months and twelve months ended April 30, 1996, increased over similar prior periods due to the growth of plant in service and to an increase in depreciation rates for South Carolina operations effective November 1, 1995. For the current twelve-month period as compared with the similar prior period, the increase is also due to an increase in depreciation rates for North Carolina operations effective November 1, 1994. The two state commissions have approved recovery of the increased depreciation rates in rates charged to customers. -7- 8 General taxes for the three months, six months and twelve months ended April 30, 1996, increased over similar prior periods primarily due to increases in gross receipts taxes resulting from increased revenues. Other income for the three months, six months and twelve months ended April 30, 1996, increased over similar prior periods primarily due to increases in earnings from propane operations attributable to the colder weather noted above and increases in interest earned on temporary cash investments. Such increases were partially offset by decreases in earnings from energy marketing services, and for the six-month and twelve-month periods, by decreases in the allowance for funds used during construction (AFUDC) due to changes in rates and lower balances on which AFUDC is computed and decreases in earnings from merchandise activities. Utility interest charges for the six months and twelve months ended April 30, 1996, increased over similar prior periods primarily due to interest on long-term debt resulting from higher balances outstanding. These increases were partially offset by decreases in interest on short-term debt and refunds due customers due to lower balances outstanding. The decreases in interest on short-term debt and refunds due customers noted above more than offset the increase in interest on long-term debt for the three months ended April 30, 1996. -8- 9 PART II. OTHER INFORMATION Item 5. Other Information Expansion of Services As previously reported, the Company filed a petition in September 1994 with the North Carolina Utilities Commission (NCUC) for a certificate of public convenience and necessity to serve four counties in North Carolina not presently receiving natural gas service. The Company estimated that the expansion would require capital expenditures of $57.7 million over a period of five years and would result in the addition of approximately 10,000 customers. The Company also filed applications to establish an expansion fund and place $14.8 million of supplier refunds into this fund. The Company requested permission to use the fund to offset a portion of the cost of the construction in the four counties. Another company, not currently providing natural gas service in North Carolina or elsewhere, also filed an application to serve the four counties; however, this company did not request permission to use expansion funds. On June 19, 1995, the NCUC granted a conditional certificate to the Company to serve the four-county area but prohibited the Company from utilizing available expansion funds. On July 10, the Company filed its exceptions to the order declining the conditional certificate and requesting that a final order be granted which would not prohibit the Company from using expansion funds. On July 20, the NCUC conditionally granted a certificate to the competing applicant. A hearing was held on December 12 to determine whether the conditions of the certificate were met and whether an unconditional certificate should be granted to the competing applicant. On January 30, 1996, the NCUC granted a final certificate to the competing applicant to serve the four-county area. On February 28, the Company requested a rehearing before the full NCUC which was subsequently denied in an order dated March 12. On March 15, the Company filed an appeal with the North Carolina Court of Appeals, the outcome of which cannot be determined at this time. South Carolina Consumer Advocate On February 1, 1996, the South Carolina Consumer Advocate filed a notice of Appeal in the Richland County Court of Appeals regarding the order of the Public Service Commission of South Carolina (PSCSC) approving the Company's rate increase of $7.8 million annually, effective November 7, 1995. The Company is opposing this appeal. The outcome of this proceeding cannot be determined at this time. -9- 10 General Rate Cases On May 14, 1996, the Company filed a general rate case with the NCUC requesting a margin increase of $15.1 million annually, including an increase in customers' rates of $9.9 million annually. The Company has requested the proposed rates to become effective November 1, 1996. On May 31, 1996, the Company filed a general rate case with the TPSC requesting a margin increase of $11.1 million annually, including an increase in customers' rates of $9.3 million annually. It is anticipated that if approved, the new rates would become effective November 1, 1996. Tennessee Performance Incentive Plan On May 31, 1996, the TPSC approved a Performance Incentive Plan to be effective July 1, 1996. The plan provides for an overall annual cap of $1.6 million on gains or losses based on the cost of gas performance as related to benchmarks together with income from marketing transportation and storage capacity in the secondary market. The benefits associated with an incentive plan are to eliminate the annual cost of gas prudence reviews, reduce gas costs to the benefit of Tennessee ratepayers and to provide a potential benefit to the shareholders by sharing in gas cost reductions. Establishment of a Natural Gas Expansion Fund On April 4, 1996, the NCUC ordered the establishment of an expansion fund for the Company and approved initial funding of the expansion fund in order to extend natural gas service to unserved areas of the state. The Company has been holding certain refunds as an investment in short-term U.S. Treasury securities pending the establishment of such a fund. On May 2, 1996, the Company transferred, according to the NCUC's order, $16.4 million to the North Carolina State Treasurer for credit to the Company's expansion fund account. The use of such funds will be decided by the NCUC as individual project applications for unserved areas are filed by the Company. Pine Needle LNG Company, L.L.C. (Pine Needle) Piedmont Interstate Pipeline Company, a wholly-owned subsidiary, is a 35% member of Pine Needle, a North Carolina limited liability company formed in 1995 to construct, own and operate a liquified natural gas (LNG) peak demand facility in North Carolina. The facility, estimated to cost $107 million, will be located near an interstate pipeline, also a member who will serve as operator and dispatch agent, and will have storage capacity of four billion cubic feet with vaporization capability of 400 million cubic feet per day. The facility will provide peak demand and storage service to the Company and other customers on the interstate pipeline's system in the southeast market area. In August 1995, Pine Needle concluded an open season for subscriptions from potential customers of the facility, at which time subscriptions were received for 361 million cubic feet per day, including a subscription from the Company for 200 million cubic feet per day. -10- 11 On April 30, 1996, the Federal Energy Regulatory Commission (FERC) issued a preliminary order determining that the issuance of a certificate authorizing the LNG storage project of Pine Needle would be in the public convenience and necessity. This preliminary order is subject to conditions including revisions to the terms of its pro forma FERC tariff rates reflecting changes in the return on equity, AFUDC and income tax component, executing firm storage contracts with the customers that executed subscriptions and requiring the facilities to be constructed and placed into operation within three years of the date of the final order. In addition, the FERC will issue its findings regarding environmental matters with the final order. On May 30, 1996, Pine Needle advised the FERC of the revision of its pro forma initial rates reflecting changes in the return on equity, AFUDC and income tax component per the direction of the order. On May 30, 1996, the NCUC, an intervenor in the case, requested a rehearing of the FERC's preliminary order for the limited purpose of review of the proposed return on equity and capital structure. The outcome of this request for rehearing cannot be determined at this time. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits - 12 Computation of Ratio of Earnings to Fixed Charges. 27 Financial Data Schedule (for Securities and Exchange Commission use only). (b) Reports on Form 8-K - None. -11- 12 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 thereunto duly authorized. PIEDMONT NATURAL GAS COMPANY, INC. ---------------------------------- (Registrant) Date June 11, 1996 /s/ David J. Dzuricky -------------------- --------------------------------- David J. Dzuricky Senior Vice President-Finance (Principal Financial Officer) Date June 11, 1996 /s/ Barry L. Guy -------------------- ---------------------------------- Barry L. Guy Vice President and Controller (Principal Accounting Officer) -12- EX-12 2 COMPUTATION OF RATIO OF EARNINGS 1 Exhibit 12 PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES Computation of Ratio of Earnings to Fixed Charges For Fiscal Years Ended October 31, 1991 through 1995 and Twelve Months Ended April 30, 1996 (in thousands except ratio amounts)
April 30, 1996 1995 1994 1993 1992 1991 ---- ---- ---- ---- ---- ---- Earnings: Net income from continuing operations $ 52,600 $ 40,310 $35,506 $37,534 $35,310 $20,552 Income taxes 33,486 25,442 21,407 23,427 21,259 11,408 Fixed charges 35,642 35,651 29,736 26,715 26,246 26,823 -------- -------- ------- ------- ------- ------- Total Adjusted Earnings $121,728 $101,403 $86,649 $87,676 $82,815 $58,783 ======== ======== ======= ======= ======= ======= Fixed Charges: Interest $ 33,334 $ 33,224 $27,671 $24,870 $24,570 $25,253 Amortization of debt expense 341 336 334 192 180 259 One-third of rental expense 1,967 2,091 1,731 1,653 1,496 1,311 -------- -------- ------- ------- ------- ------- Total Fixed Charges $ 35,642 $ 35,651 $29,736 $26,715 $26,246 $26,823 ======== ======== ======= ======= ======= ======= Ratio of Earnings to Fixed Charges 3.42 2.84 2.91 3.28 3.16 2.19 ======== ======== ======= ======= ======= =======
-13- EX-27 3 FINANCIAL DATA SCHEDULE
UT THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS OF PIEDMONT NATURAL GAS FOR THE SIX MONTHS ENDED APRIL 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 6-MOS OCT-31-1996 NOV-01-1995 APR-30-1996 PER-BOOK 829,866 26,744 166,262 15,293 0 1,038,165 237,852 0 174,196 412,048 0 0 361,000 0 0 0 7,000 0 0 0 258,117 1,038,165 498,632 39,508 382,333 421,841 76,791 5,451 82,242 15,693 66,549 0 66,549 16,367 0 95,988 2.30 0
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