-----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, KBMUBDurkGYqeiJVCnAZZMp9PCYGwhrRDBZqOE51+svhKloNJlcgm6vlUyTE7Y41 OhS34fbkM086+NII8uo0Bg== 0000811716-95-000010.txt : 19951119 0000811716-95-000010.hdr.sgml : 19951119 ACCESSION NUMBER: 0000811716-95-000010 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950930 FILED AS OF DATE: 19951113 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEQUENT COMPUTER SYSTEMS INC /OR/ CENTRAL INDEX KEY: 0000811716 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 930826369 STATE OF INCORPORATION: OR FISCAL YEAR END: 0102 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-15627 FILM NUMBER: 95590848 BUSINESS ADDRESS: STREET 1: 15450 SW KOLL PKWY STREET 2: ED02-803 CITY: BEAVERTON STATE: OR ZIP: 97006-6063 BUSINESS PHONE: 5036265700 MAIL ADDRESS: STREET 1: 15450 SW KOLL PKWY STREET 2: ED02 -803 CITY: BEAVERTON STATE: OR ZIP: 97006-6063 10-Q 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (X) Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 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: 0-15627 SEQUENT COMPUTER SYSTEMS, INC. (Exact name of registrant as specified in its charter) Oregon 93-0826369 (State or other jurisdiction (I.R.S. Employer of organization or incorporation) Identification Number) 15450 S.W. Koll Parkway Beaverton, Oregon 97006-6063 (Address of principal executive offices, including zip code) (503) 626-5700 (Registrant's telephone number, including area code) 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 report), 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. 33,041,374 common shares were issued and outstanding as of October 28, 1995. SEQUENT COMPUTER SYSTEMS, INC. PART I. FINANCIAL INFORMATION Page No. Item 1. Consolidated Financial Statements Consolidated Balance Sheets - September 30, 1995 and December 31, 1994 3 Consolidated Statements of Operations - Three months and nine months ended September 30, 1995 and October 1, 1994 4 Consolidated Statements of Changes In Shareholders' Equity - January 2, 1993 through September 30, 1995 5 Consolidated Statements of Cash Flows - Nine months ended September 30, 1995 and October 1, 1994 6 Notes to Consolidated Financial Statements 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 10 PART II. OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K (a) Exhibit 11 - Statement regarding computation of earnings per share. (b) No reports on Form 8-K were filed by the Company during the fiscal quarter ended September 30, 1995. SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - Unaudited (in thousands, except per share amounts) Sept. 30, 1995 Dec. 31, 1994 ASSETS Current assets: Cash and cash equivalents $ 64,133 $ 46,291 Restricted deposits 35,473 59,437 Receivables, net 157,097 133,571 Inventories 59,439 48,698 Prepaid royalties and other 18,596 12,812 Total current assets 334,738 300,809 Property and equipment, net 99,536 94,214 Capitalized software costs, net 43,203 38,555 Intangible assets and other, net 2,160 2,399 Total assets $ 479,637 $ 435,977 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Notes payable $ 35,473 $ 59,437 Accounts payable and other 61,910 46,744 Accrued payroll 11,414 11,794 Unearned revenue 16,285 9,716 Income taxes payable 6,292 3,850 Current obligations under capital leases and debt 1,331 800 Total current liabilities 132,705 132,341 Other accrued expenses 1,496 2,100 Long-term obligations under capital leases and debt 9,102 10,341 Total liabilities 143,303 144,782 Shareholders' equity: Preferred stock, $.01 par, none outstanding -- -- Common stock, $.01 par, 32,916 and 31,360 shares outstanding 329 314 Paid-in capital 297,096 278,145 Retained earnings 42,276 17,872 Foreign currency translation adjustment (3,367) (5,136) Total shareholders' equity 336,334 291,195 Total liabilities and shareholders' equity $ 479,637 $ 435,977 See notes to consolidated financial statements. SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - Unaudited (in thousands, except per share amounts) Three Months Ended Nine Months Ended Sept. 30, Oct. 1, Sept. 30, Oct. 1, 1995 1994 1995 1994 Revenue: Product revenue $ 96,970 $ 93,235 $ 283,499 $ 247,248 Service revenue 36,245 28,012 105,022 76,667 Total revenue 133,215 121,247 388,521 323,915 Costs and expenses: Cost of products sold 45,286 47,477 132,716 122,210 Cost of service revenue 28,364 19,449 78,469 53,788 Research and development 10,220 9,383 29,965 25,686 Selling, general and admin. 38,653 34,235 111,943 97,532 Total costs and expenses 122,523 110,544 353,093 299,216 Operating income 10,692 10,703 35,428 24,699 Interest, net 203 (28) 547 (820) Other, net (490) (256) (1,390) 279 Income before provision for income taxes 10,405 10,419 34,585 24,158 Provision for income taxes 2,964 1,545 10,181 3,409 Net income $ 7,441 $ 8,874 $ 24,404 $ 20,749 Net income per share $ 0.22 $ 0.28 $ 0.73 $ 0.65 Weighted average number of common and common equivalent shares outstanding 34,515 32,172 33,555 31,723 See notes to consolidated financial statements. SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - Unaudited (in thousands)
Foreign Retained Currency Preferred Stock Common Stock Paid-in Earnings Trans- Shares Amount Shares Amount Capital (Deficit) lation Total Balance, January 2, 1993 1,500 $ 15 22,450 $ 225 $ 186,027 $ (7,738) $ (6,027) $ 172,502 Common shares issued, net of repurchases -- -- 4,795 47 79,883 -- -- 79,930 Conversion of preferred stock (1,500) (15) 3,000 30 -- -- -- 15 Net income -- -- -- -- -- (7,524) -- (7,524) Foreign currency translation adjustment -- -- -- -- -- -- (1,435) (1,435) Balance, January 1, 1994 -- $ -- 30,245 $ 302 $ 265,910 $ (15,262) $ (7,462) $ 243,488 Common shares issued -- -- 1,115 12 12,235 -- 12,247 Net income -- -- -- -- -- 33,134 -- 33,134 Foreign currency translation adjustment -- -- -- -- -- -- 2,326 2,326 Balance, December 31, 1994 -- $ -- 31,360 $ 314 $ 278,145 $ 17,872 $ (5,136) $ 291,195 Common shares issued -- -- 1,493 14 17,952 -- 17,966 Conversion of debentures -- -- 63 1 999 -- -- 1,000 Net income -- -- -- -- -- 24,404 -- 24,404 Foreign currency translation adjustment -- -- -- -- -- -- 1,769 1,769 Balance, Sept. 30, 1995 -- $ -- 32,916 $ 329 $ 297,096 $ 42,276 $ (3,367) $ 336,334 See notes to consolidated financial statements.
SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - Unaudited (in thousands) Nine Months Ended Sept. 30, 1995 Oct. 1, 1994 Operating activities: Net income $ 24,404 $ 20,749 Reconciliation of net income to net cash provided by operating activities - Depreciation and amortization 38,508 32,852 Changes in assets and liabilities - Receivables, net (23,526) (16,619) Inventories (10,741) (2,414) Prepaid expenses (5,784) (1,671) Accounts payable and other 15,166 (14,906) Accrued payroll (380) (299) Unearned revenue 6,569 2,824 Income taxes payable 2,442 1,312 Deferred income taxes -- (541) Other, net (802) (853) Net cash provided by operating activities 45,856 20,434 Investing activities: Restricted deposits 23,964 (21,164) Investments, net -- 5,000 Purchases of property and equipment, net (31,254) (33,890) Capitalized software costs (16,787) (14,231) Foreign currency translation 1,769 2,298 Other, net -- (138) Net cash used for investing activities (22,308) (62,125) Financing activities: Notes payable, net (23,964) 21,164 Payments under capital lease obligations (652) (2,273) Long-term debt, net (56) (5) Stock issuance proceeds, net 17,966 7,764 Convertible debenture proceeds 1,000 -- Net cash (used) provided by financing activities (5,706) 26,650 Net increase (decrease) in cash and cash equivalents 17,842 (15,041) Cash and cash equivalents at beginning of period 46,291 42,986 Cash and cash equivalents at end of period $ 64,133 $ 27,945 See notes to consolidated financial statements. SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 1995 Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission and in the opinion of management include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company's annual report and Form 10-K for the fiscal year ended December 31, 1994. The Company's fiscal year is based on a 52-53 week calendar ending the Saturday closest to December 31. The accompanying consolidated financial statements include the accounts of Sequent Computer Systems, Inc. and its wholly owned subsidiaries (the Company or Sequent). All significant intercompany accounts and transactions have been eliminated. The results for interim periods are not necessarily indicative of the results for the entire year. Accounts Receivable At September 30, 1995, accounts receivable in the accompanying consolidated balance sheet is net of $8 million received by the Company under its two year agreement to sell its domestic accounts receivables. Inventories Inventories consist of the following: (in thousands) Sept. 30, Dec. 31, 1995 1994 Raw Materials $ 8,559 $ 5,377 Work in Process 3,140 2,065 Finished Goods 47,740 41,256 $ 59,439 $ 48,698 Property and Equipment Property and equipment consist of the following: (in thousands) Sept. 30, Dec. 31, 1995 1994 Land $ 5,037 $ 5,037 Operational Equipment 134,200 119,535 Furniture and Office Equipment 62,946 53,872 Leasehold Improvements 15,715 12,341 217,898 190,785 Less Accum. Depr. & Amort. 118,362 96,571 $ 99,536 $ 94,214 Research and Development Amortization of capitalized software costs, generally based on a three-year life, was $4.5 million and $12.1 million for the three month and nine month periods ended September 30, 1995, respectively. Amortization for the same periods in 1994 was $3.4 million and $9.2 million, respectively. Restructuring Charge The realignment of resources to provide open distributed client/server computing solutions, professional service consulting and architecture-led selling, marketing and engineering strategies is progressing according to plan. The $1.0 million remaining accrual is primarily related to obligations associated with closed facility leases and future extended employee benefit costs. Management expects that the remaining accrual will be fully utilized according to the realignment plan. The fourth quarter of 1993 restructuring reduced operating expenses by approximately $400,000 for the third quarter ended September 30, 1995 and $1.0 million for the first nine months of 1995. Notes Payable The Company has an unsecured line of credit agreement with a group of banks which provides short-term borrowings of up to $50 million (increased from $30 million in June 1995). No borrowings were outstanding at September 30, 1995. The Company has a short-term borrowing agreement with a foreign bank as a hedge to cover certain foreign currency exposures for a maximum of approximately $56.9 million. At September 30, 1995, borrowings of $35.5 million were outstanding under this agreement. The Company has a short-term borrowing agreement with a domestic bank for an additional hedging facility to cover certain foreign currency exposures for a maximum of $10 million, excluding foreign currency fluctuations. No borrowings were outstanding at September 30, 1995. Obligations Under Capital Leases and Long-Term Debt In August 1995, $1.0 million of Convertible Debentures were converted at $15.81 per share into 63,241 shares of the Company's common stock. Income Taxes Effective the beginning of fiscal 1992, the Company adopted Statement of Financial Accounting Standards No. 109, "Accounting For Income Taxes" (FAS 109). The effective tax rate differs from the statutory tax rate principally due to tax benefits from the Company's foreign sales corporation and tax benefits related to the utilization of net operating loss carryforwards which the Company has available. Earnings Per Share See Exhibit 11 for the computation of average shares outstanding and earnings per share. Significant Customers The Company has no single customer that represents greater than 10% of total revenue for the quarters ending September 30, 1995 and October 1, 1994. Geographic Segment Information Export and foreign revenue was $73.9 million (55% of total revenue) for the three months ended September 30, 1995 and $210.4 million (54% of total revenue) for the first nine months of 1995. Export and foreign revenue was $60.4 million and $154.3 million (50% and 48% of total revenue, respectively) for the corresponding periods in 1994. The Company's United States operations generated operating income of $8.9 million for the three months ended September 30, 1995 and $32.8 million for the first nine months of 1995. Foreign operations generated operating income of $1.8 million and $2.6 million during the corresponding periods in 1995. Comparable operating income for the three months ended October 1, 1994 and for the first nine months of 1994 were $10.0 million and $21.1 million for U.S. operations and $700,000 and $3.6 million for foreign operations. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS September 30, 1995 GENERAL Total revenue was $133.2 million in the third quarter of 1995 compared to $121.2 million in the third quarter of 1994. Total revenue was $388.5 million in the first nine months of 1995 compared to $323.9 million in the first nine months of 1994. Net income was $7.4 million in the third quarter of 1995 compared to $8.9 million in the third quarter of 1994. Net income was $24.4 million in the first nine months of 1995 compared to $20.7 million in the first nine months of 1994. REVENUE (dollars in millions) Three Months Ended Nine Months Ended Sept. 30, % Oct. 1, Sept. 30, % Oct. 1, 1995 Chg 1994 1995 Chg 1994 End-user product revenue $ 91.1 4% $ 88.0 $ 273.1 21% $ 226.1 Service revenue 36.2 29% 28.0 105.0 37% 76.7 Total end-user revenue 127.3 10% 116.0 378.1 25% 302.8 OEM product revenue 5.9 13% 5.2 10.4 (51)% 21.1 Total revenue $ 133.2 10% $ 121.2 $ 388.5 20% $ 323.9 Export and Foreign Revenue $ 73.9 22% $ 60.4 $ 210.4 36% $ 154.3 End-user product revenue for the third quarter and first nine months of 1995 improved over the corresponding quarter and first nine months of 1994 due to strong results from Europe. The Company believes the increase in revenue reflects continued growth in the market for Sequent products combined with the Company's strategy of targeting higher value contracts. Service revenue continued to benefit from the growing installed customer base and strategic decisions to increase levels of consulting services combined with the targeting of higher value contracts. OEM product revenue is substantially sales to Unisys Corporation. Export and foreign revenue was 55% of total revenue in the third quarter and 54% of total revenue in the first nine months of 1995 and 50% and 48% of total revenue in the corresponding quarter and first nine months of 1994. The increase in export and foreign revenue as a percentage of total revenue in the third quarter and first nine months of 1995 compared to the corresponding periods in 1994 was due to significant revenue increases in Europe. COST OF SALES (dollars in millions) Three Months Ended Nine Months Ended Sept. 30, Oct. 1, Sept. 30, Oct. 1, 1995 1994 1995 1994 Costs of products sold $ 45.3 $ 47.5 $ 132.7 $ 122.2 As a percentage of product revenue 46.7% 50.9% 46.8% 49.4% Costs of service revenue $ 28.4 $ 19.4 $ 78.5 $ 53.8 As a percentage of service revenue 78.3% 69.4% 74.7% 70.2% Costs of products sold as a percentage of product revenue decreased in both the third quarter and first nine months of 1995 compared to the corresponding periods of 1994. This decrease is attributed to cost improvements and efficiencies as well as an increase in the number of higher margin larger scale systems sold in 1995 compared to 1994. Service revenue as a percentage of total revenue increased for the third quarter and first nine months of 1995 over the corresponding quarter and first nine months of 1994. The Company's continued investment in growing its consulting services business attributed to the increase of cost of service revenue as a percentage of service revenue in both the third quarter and first nine months of 1995 compared to the corresponding periods of 1994. RESEARCH AND DEVELOPMENT (dollars in millions) Three Months Ended Nine Months Ended Sept. 30, Oct. 1, Sept. 30, Oct. 1, 1995 1994 1995 1994 Research and Development $ 10.2 $ 9.4 $ 30.0 $ 25.7 As a percentage of total revenue 8% 8% 8% 8% Software costs capitalized $ 5.7 $ 4.9 $ 16.8 $ 14.2 Research and development costs remained relatively constant as a percentage of total revenue comparing both the third quarter and first nine months of 1995 and 1994. Research and development costs include continued investment in new product development and enhancements to existing products. Software costs capitalized increased in the third quarter and first nine months of 1995 due to greater emphasis on hardware development for future products. These product costs are expensed as incurred. SELLING, GENERAL AND ADMINISTRATIVE (dollars in millions) Three Months Ended Nine Months Ended Sept. 30, % Oct. 1, Sept. 30, % Oct. 1, 1995 Chg 1994 1995 Chg 1994 Selling, general and admin. $ 38.7 13% $ 34.2 $ 111.9 15% $ 97.5 As a percentage of total revenue 29% 28% 29% 30% Selling, general and administrative costs increased 13% and 15% in the third quarter and first nine months of 1995, respectively, compared to the corresponding periods in 1994 primarily as a result of the Company's continuing efforts to increase its investment in its sales force and its related associated cost. Selling, general and administrative costs decreased as a percentage of total revenue in the first nine months of 1995 compared to the corresponding period in 1994 due to greater total revenue levels along with cost control, despite the increase between the third quarter of 1995 compared to the third quarter of 1994. RESTRUCTURING CHARGE The realignment of resources to provide open distributed client/server computing solutions, professional service consulting and architecture-led selling, marketing and engineering strategies is progressing according to plan. The $1.0 million remaining accrual is primarily related to obligations associated with closed facility leases and future extended employee benefit costs. Management expects that the remaining accrual will be fully utilized according to the realignment plan. The fourth quarter of 1993 restructuring reduced operating expenses by approximately $400,000 for the third quarter ended September 30, 1995 and $1.0 million for the first nine months of 1995. INTEREST AND OTHER, NET (dollars in millions) Quarter Ended Nine Months Ended Sept. 30, Oct. 1, Sept. 30, Oct. 1, 1995 1994 1995 1994 Interest, net $ 0.2 $ (0.0) $ 0.5 $ (0.8) Other, net (0.5) (0.3) (1.4) 0.3 Provisions for income taxes 3.0 1.5 10.2 3.4 Interest income in the third quarter and first nine months of 1995 and 1994 was primarily generated from restricted deposits held at foreign and domestic banks, short-term investments and cash and cash equivalents. Interest expense in the third quarter and first nine months of 1995 and 1994 includes costs related to Convertible Debentures, foreign currency hedging loans, capital lease obligations and in 1994 long-term debt. Other expenses primarily represents effects of foreign currency transactions and other miscellaneous non-operating income and expenses. The provision for income taxes includes benefits related to the Company's foreign sales corporation and the utilization of available domestic and foreign tax attributes carried forward from prior years. The increase in the Company's effective tax rate from 14% in the third quarter of 1994 to 28.5% in the third quarter of 1995 is primarily attributed to utilization of a majority of its remaining net operating loss carryforwards during December 31, 1994. LIQUIDITY AND CAPITAL RESOURCES Working capital increased to $202.0 million at September 30, 1995 from $168.5 million at December 31, 1994. The Company's current ratio at September 30, 1995 and December 31, 1994 was 2.5:1 and 2.3:1, respectively. For the first nine months of 1995, cash and cash equivalents increased $17.8 million. The Company continues to invest in property and equipment ($31.2 million), and capitalized software ($16.8 million). Other uses of funds were increases in net receivables ($23.5 million), increases in inventories ($10.7 million), and increases in prepaid expenses ($5.8 million). Primary sources of funds were net income ($24.4 million), depreciation and amortization ($38.5 million), increases in accounts payable and other ($15.2 million), increases in unearned revenue ($6.6 million), increases in income tax payable ($2.4 million), and stock issuance proceeds from employee stock purchases and stock option plans ($18.0 million). The Company has a $20 million receivable sales facility with a group of banks. At September 30, 1995, accounts receivable in the accompanying consolidated balance sheet is net of $8 million received by the Company under this agreement to sell its domestic accounts receivable. The Company continues to maintain a $50 million line of credit (increased from $30 million in June 1995) with a group of banks for operating purposes in addition to short-term borrowing agreements totaling approximately $66.9 million as hedge facilities to cover certain foreign currency exposures. At September 30, 1995, no borrowings were outstanding under the line of credit and $35.5 million was outstanding under the short-term borrowing agreements. Management expects that current funds, funds from operations, and the bank lines of credit will provide adequate resources to meet the Company's anticipated cash requirements through 1995. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SEQUENT COMPUTER SYSTEMS, INC. ________________________________ Robert S. Gregg Sr. Vice President of Finance and Chief Financial Officer Date: November 15, 1995 EXHIBIT INDEX Sequential Exhibit No. Description Page No. 11 Statement regarding computation of earnings per share 15 SEQUENT COMPUTER SYSTEMS, INC. AND SUBSIDIARIES STATEMENT SHOWING CALCULATION OF AVERAGE COMMON SHARES OUTSTANDING AND EARNINGS PER AVERAGE COMMON SHARE (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, 1995 September 30, 1995 Weighted average number of common shares outstanding 32,523 31,946 Application of the "treasury stock" method to the stock option and employee stock purchase plans 1,997 1,707 Weighted average of common stock equivalent shares attributable to convertible debentures 575 618 Total common and common equivalent shares, assuming full dilution 35,095 34,271 Net income 7,441 24,404 Add: Interest on convertible debentures, net of applicable income taxes 120 386 Net income, assuming full dilution 7,561 24,790 Net income per common share, assuming full dilution (A) $ 0.22 $ 0.73 (A) In accordance with generally accepted accounting principles, fully-diluted earnings per share may not exceed primary earnings per share. The difference between primary and fully-diluted earnings per share is due to rounding. The sum of nine months earning per share does not equal the sum of quarterly earnings per share as a result of quarterly versus nine months average shares outstanding. The computation of primary net income per common share is not included as the computation can be clearly determined from the material contained in this report. EX-27 2
5 9-MOS DEC-31-1995 SEP-30-1995 99,606,000 0 159,743,000 2,646,000 59,439,000 334,738,000 220,698,000 121,162,000 479,637,000 132,705,000 9,102,000 329,000 0 0 336,005,000 479,637,000 283,499,000 388,521,000 132,716,000 211,185,000 141,908,000 852,000 3,469,000 0 10,181,000 0 0 0 0 24,404,000 0.73 0.73
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