-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Q8BaqScmlYUW/O6LZm2UmFL7anpBr785LSHvnDIyGtw2mVkgvpZnUxnLgM+SsmHB 68FNCjvemQM0FCMpF67J4A== 0000826490-95-000007.txt : 19950417 0000826490-95-000007.hdr.sgml : 19950417 ACCESSION NUMBER: 0000826490-95-000007 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19950228 FILED AS OF DATE: 19950414 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HEALTHTRUST INC THE HOSPITAL CO CENTRAL INDEX KEY: 0000826490 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062] IRS NUMBER: 621234332 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-10915 FILM NUMBER: 95528975 BUSINESS ADDRESS: STREET 1: 4525 HARDING RD CITY: NASHVILLE STATE: TN ZIP: 37205 BUSINESS PHONE: 6153834444 10-Q 1 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For quarter ended February 28, 1995 Commission file number 001-10915 Healthtrust, Inc. - The Hospital Company (Exact name of registrant as specified in its charter) Delaware 62-1234332 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 4525 Harding Road Nashville, Tennessee 37205 (Address of principal executive (Zip Code) offices) (615) 383-4444 Registrant's telephone number, including area code Not Applicable Former name, former address and former fiscal year, if changed since last report. 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 periods 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 practical date. Common Stock, $.001 Par Value - 91,316,494 shares as of April 5, 1995. INDEX HEALTHTRUST, INC. - THE HOSPITAL COMPANY PART I. FINANCIAL INFORMATION Page Item 1. Financial Statements (Unaudited) Condensed consolidated balance sheets-- February 28, 1995 and August 31, 1994 3 Condensed consolidated statements of operations--three months and six months ended February 28, 1995 and 1994 Condensed consolidated statements of cash flows--six months ended February 28, 1995 and 1994 5 Notes to condensed consolidated financial statements 6-7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8-13 PART II. OTHER INFORMATION Item 4. Submission of Matters to a Vote of Security Holders 14 Item 6. Exhibits and Reports on Form 8-K 14 SIGNATURES 15 PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS HEALTHTRUST, INC. - THE HOSPITAL COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Dollars in thousands) February 28, August 31, 1995 1994 CURRENT ASSETS Cash and cash equivalents $ 52,272 $ 92,327 Accounts receivable, less allowances for doubtful accounts of $180,188 and $175,838 610,685 549,554 Supplies 90,190 86,576 Other current assets 99,723 113,752 TOTAL CURRENT ASSETS 852,870 842,209 PROPERTY, PLANT AND EQUIPMENT 3,109,859 2,990,559 Less accumulated depreciation 828,254 736,863 2,281,605 2,253,696 EXCESS OF PURCHASE PRICE OVER NET ASSETS ACQUIRED 748,028 736,189 OTHER ASSETS 136,994 135,188 TOTAL ASSETS $ 4,019,497 $ 3,967,282 CURRENT LIABILITIES Accounts payable $ 139,124 $ 153,821 Other current liabilities 417,323 405,244 TOTAL CURRENT LIABILITIES 556,447 559,065 LONG TERM DEBT 1,691,221 1,740,872 DEFERRED INCOME TAXES 72,245 91,230 DEFERRED PROFESSIONAL LIABILITY RISKS 216,539 215,503 OTHER LIABILITIES 336,554 335,008 STOCKHOLDERS' EQUITY Common Stock, $.001 par value; 400,000,000 shares authorized, 91,280,516 and 90,733,447 shares issued and outstanding 91 91 Paid-in capital 1,036,396 1,021,929 Deferred compensation (4,864) Retained earnings 114,868 3,584 STOCKHOLDERS' EQUITY 1,146,491 1,025,604 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,019,497 $ 3,967,282 See accompanying notes. HEALTHTRUST, INC. - THE HOSPITAL COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Dollars in thousands, except per share data) Three Months Ended Six Months Ended February 28 February 28 1995 1994 1995 1994 Net operating revenue $1,015,022 $ 652,521 $1,984,946 $1,274,616 Costs and expenses: Hospital service costs: Salaries and benefits 388,331 236,473 763,079 469,026 Supplies 131,629 90,960 260,737 178,950 Fees 107,680 68,361 211,668 133,077 Other expenses 106,036 66,014 208,416 131,754 Bad debt expense 64,002 45,150 128,574 88,740 797,678 506,958 1,572,474 1,001,547 Depreciation and amortization 57,229 35,058 113,309 69,678 Interest 40,146 20,715 80,604 42,270 Pension expense 16,301 10,614 32,658 20,542 Other income (net) (5,295) (3,229) (8,989) (8,679) 906,059 570,116 1,790,056 1,125,358 INCOME BEFORE MINORITY INTERESTS AND INCOME TAXES 108,963 82,405 194,890 149,258 Minority interests 2,322 2,647 4,335 4,089 INCOME BEFORE INCOME TAXES 106,641 79,758 190,555 145,169 Income tax provision 45,286 32,382 79,271 58,941 NET INCOME $ 61,355 $ 47,376 $ 111,284 $ 86,228 Net income per share $ 0.66 $ 0.56 $ 1.20 $ 1.02 Shares used in computation of net income per common share 92,907,341 84,878,164 92,770,454 84,639,121 See accompanying notes. HEALTHTRUST, INC. - THE HOSPITAL COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollars in thousands) Six Months Ended February 28, 1995 1994 OPERATING ACTIVITIES Net income $ 111,284 $ 86,228 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 100,377 65,372 Amortization 12,932 4,306 Non-cash insurance expense 8,765 Pension expense 32,658 20,542 Increase in accounts and agency receivables (80,027) (39,989) Decrease in accounts payable and accrued liabilities (24,952) (62,476) Other (4,867) (5,456) NET CASH PROVIDED BY OPERATING ACTIVITIES 147,405 77,292 INVESTING ACTIVITIES Purchases of property, plant and equipment (115,137) (83,709) Purchase of hospital facilities (14,408) Proceeds from sales of property, plant and equipment 3,518 97,948 Other (11,929) (3,407) NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (137,956) 10,832 FINANCING ACTIVITIES Principal payments on long-term debt (106,000) (81,700) Proceeds from long-term borrowings 55,000 - Other 1,496 1,980 NET CASH USED IN FINANCING ACTIVITIES (49,504) (79,720) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (40,055) 8,404 Cash and cash equivalents at beginning of period 92,327 151,346 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 52,272 $ 159,750 Cash paid during the year for: Interest $ 82,087 $ 44,551 Income taxes 60,691 92,272 See accompanying notes. HEALTHTRUST, INC. - THE HOSPITAL COMPANY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. All significant intercompany transactions have been eliminated in consolidation. Operating results for the three months and six months ended February 28, 1995 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 1995. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended August 31, 1994 (included in the Company's Annual Report on Form 10-K). Income Per Share Income per share has been computed by dividing net income for each period by the weighted average number of shares and share equivalents outstanding during the applicable period, adjusted for stock splits. Fully diluted per share data is not presented since the effect would dilute earnings per share by less than three percent (3%). Proposed Merger With Columbia/HCA Healthcare Corporation On October 4, 1994, the Company and Columbia/HCA Healthcare Corporation jointly announced the signing of a definitive merger agreement under which the Company's shareholders will receive 0.88 share of Columbia common stock in exchange for each share of Healthtrust common stock they hold. The proposed transaction is expected to be accounted for as a pooling of interests. On February 28, 1995, the shareholders of both the Company and Columbia/HCA approved the merger transaction . The transaction remains conditioned upon the finalization of a consent agreement with the Federal Trade Commission and completion of final documentation. The transaction is expected to be consummated in April 1995. Reclassifications Fiscal 1994 deferred compensation expense amounts have been reclassified to conform with the fiscal 1995 presentation (included with salaries and benefits). ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS SELECTED OPERATING STATISTICS (DOLLARS IN MILLIONS) Same Hospitals Operating Data (1): Three Months Ended Six Months Ended February 28, February 28, %Increase %Increase 1995 1994 Decrease 1995 1994 Decrease Number of Hospitals 77 77 77 77 Gross Revenue: Inpatient $717.5 $691.9 3.7% $1,385.4 $1,318.3 5.1% Outpatient $365.4 $310.9 17.5% $725.8 $623.9 16.3% Net Operating Revenue $644.8 $617.1 4.5% $1,268.4 $1,205.0 5.3% Hospital Service Costs $490.2 $470.6 4.2% $969.2 $931.4 4.1% Admissions 75,379 73,240 2.9% 146,143 140,417 4.1% Adj. Admissions 113,722 106,123 7.2% 222,703 206,872 7.7% Patient Days 366,995 384,056 -4.4% 712,475 729,162 -2.3% Adj. Patient Days 553,814 556,673 -0.5% 1,085,722 1,074,249 1.1% Average Length of Stay (days) 4.87 5.24 4.88 5.19 Occupancy Rate 42% 44% 40% 41% Operating Margin 24.0% 23.7% 23.6% 22.7% (1) The results of operations applicable to hospital acquisitions and dispositions have been excluded. General The Company continues to experience gross and net operating revenue increases and the Company's results of operations continue to be affected by the trend toward certain services being performed more frequently on an outpatient basis. The Company has been able to achieve increases in net operating revenue due to the higher utilization of outpatient and non-acute specialty services, general price increases and an increased severity of illness for the patients admitted. Although the Company's net operating revenue has grown in each period, the impact of price increases and increases in patient acuity have been partially offset by the increasing proportion of revenue derived from fixed payment sources, including Medicare and Medicaid (approximately 45% and 44%, for the six months ended February 28, 1995 and 1994, respectively, of the Company's net operating revenue was related to Medicare and Medicaid patients). The growth in outpatient services is expected to continue as procedures currently being performed on an inpatient basis become available on an outpatient basis through continuing advances in pharmaceutical and medical technologies. The redirection of certain procedures to an outpatient basis has also been influenced by pressures from payors to direct certain procedures from inpatient care to outpatient care. While the Company expects the growth in outpatient services to continue, the rate of increase is expected to decline. The Company expects Medicare and Medicaid revenue to continue to increase due to the general aging of the population and the expansion of state Medicaid programs. The Medicare program reimburses the Company's hospitals primarily based on established rates that are dependant on each patient's diagnosis, regardless of the provider's cost to treat the patient or the length of time the patient stays in the hospital. The Medicare program's established rates are indexed for inflation annually, but these increases have historically been less than both the actual inflation rate and the Company's increases to its standard charges. Insurance companies, government programs (other than Medicare) and employers purchasing health care services for their employees are negotiating the amounts they will pay health care providers, rather than paying the providers standard prices. This leads to these purchasers of health care services becoming managed care payors, similar to HMO's and PPO's, in virtually all markets and making it increasingly difficult for providers to maintain their historical net revenue growth trends. The Congress is currently reviewing various proposals for comprehensive health care reform. The reform proposals contain coverage guarantees, benefits standards and cost control mechanisms. The Company cannot predict what reforms the Congress will adopt, when such reforms will be implemented or the resulting implications for providers, at this time. However, the Company believes that the delivery of primary care, emergency care, obstetrical services and rehabilitative services, on a local basis, to rural and suburban markets will be an integral component of any strategy for controlling health care costs and the Company believes it is well positioned to provide these services. The Company acquired EPIC Holdings, Inc. (EPIC), which owned 34 hospitals and various related healthcare entities, and three other hospital facilities during the third and fourth quarters of fiscal 1994, therefore the results of operations of these acquired facilities are included in consolidated operations for the quarter and six months ended February 28, 1995, but are not included for the quarter and six months ended February 28, 1994. Three Months Ended February 28, 1995 and 1994 Net operating revenue for the Company's hospitals for the quarter ended February 28, 1995, increased 55.6% (12.5% excluding EPIC) to $1.02 billion, while same hospitals net operating revenue increased 4.5%. Gross revenue during the quarter ended February 28, 1995, increased 57.7% (15.2% excluding EPIC) due to a 76.9% increase (26.4% excluding EPIC) in gross outpatient revenue and a 47.3% increase (10.3% excluding EPIC) in gross inpatient revenue. On a same hospitals basis, gross revenue increased 7.9% compared to the prior year, due to a 17.5% increase in gross outpatient revenue and a 3.7% increase in gross inpatient revenue. In each case, gross revenue grew faster than net operating revenue, primarily because the patient mix continues to become more heavily weighted to Medicare, Medicaid and specialty unit patients (for which reimbursement rate increases have been less than implemented price increases) and increased utilization by managed care programs. Costs of hospital services (salaries and benefits, fees, supplies, bad debt expense and other expenses) for the quarter ended February 28, 1995 increased 57.5%. The 55.6% increase in net operating revenue and 57.5% increase in the costs of hospital services resulted in the operating margin declining from 22.3% for the quarter ended February 28, 1994 to 21.4% for the quarter ended February 28, 1995. Salaries and benefits, the largest component of hospital services, increased from 36.2% to 38.3% of net operating revenue due to higher than average expense at the facilities acquired during the third and fourth quarters of fiscal 1994. Supplies expense declined from 13.9% to 13.0% of net operating revenue, primarily resulting from the Company's continuing efforts to standardize supplies and negotiate contracts with vendors on a consolidated basis. Bad debt expense declined from 6.9% to 6.3% of net operating revenue. Interest expense increased from $20.7 million to $40.1 million for the quarter ended February 28, 1995, due primarily to the additional debt incurred to finance the acquisition of EPIC and the other fiscal 1994 transactions. Income before income taxes increased $26.9 million due primarily to the net effect of the $71.8 million increase in net operating revenue less hospital service costs and the $47.3 million increase in depreciation and amortization, interest and pension expense. The Company's combined federal and state effective tax rate was 42.5% for the quarter ended February 28, 1995 compared to 40.6% for the prior year. This increase is primarily due to an increased amount of nonallowable goodwill amortization. Six Months Ended February 28, 1995 and 1994 Net operating revenue for the Company's hospitals for the six months ended February 28, 1995, increased 55.7% (13.2% excluding EPIC) to $1.98 billion, while same hospitals net operating revenue increased 5.3%. Gross revenue during the six months ended February 28, 1995, increased 58.3% (15.5% excluding EPIC) due to a 75.1% increase (24.8% excluding EPIC) in gross outpatient revenue and a 48.5% increase (11.1% excluding EPIC) in gross inpatient revenue. On a same hospitals basis, gross revenue increased 8.7% compared to the prior year, due to a 16.3% increase in gross outpatient revenue and a 5.1% increase in gross inpatient revenue. Costs of hospital services (salaries and benefits, fees, supplies, bad debt expense and other expenses) for the six months ended February 28, 1995 increased 57.0%. The 55.7% increase in net operating revenue and 57.0% increase in the costs of hospital services resulted in the operating margin decreasing from 21.4% for the six months ended February 28, 1994 to 20.8% for the six months ended February 28, 1995. Salaries and benefits, the largest component of hospital services, increased from 36.8% to 38.4% of net operating revenue due to higher than average expense at the facilities acquired during the third and fourth quarters of fiscal 1994. Supplies expense was reduced from 14.0% to 13.1% of net operating revenue for the six months ended February 28, 1995, reflecting the benefits of the Company's efforts to standardize supplies and consolidate vendors. Bad debt expense has declined from 7.0% to 6.5% of net operating revenue. Interest expense increased from $42.3 million to $80.6 million for the six months ended February, 1995, due primarily to the additional debt incurred to finance the fiscal 1994 acquisitions. Income before income taxes increased $45.4 million due primarily to the net effect of the $139.4 million increase in net operating revenue less hospital service costs and the $94.1 million increase in depreciation and amortization, interest and pension expense. The increase in the federal and state combined effective income tax rate from 40.6% to 41.6% was due primarily to the increased amount of nondeductible goodwill amortization. The Company generated $147.4 million of cash flows from operations during the six months ended February 28, 1995. This represented a $70.1 million increase in cash flows provided by operations compared to the prior year. The increase in cash flows was primarily due to the $25.1 million increase in net income and the $43.6 million increase in depreciation and amortization expense. Liquidity and Capital Resources The Company began fiscal 1995 with a strong balance sheet. During the six months ended February 28, 1995, stockholders equity increased by $120.9 million to $1.15 billion and debt as a percentage of capital was reduced from 63% to 60%. These improvements were achieved primarily through strong earnings and cash flows provided by operations. Cash provided from operations continued to satisfy all of the Company's working capital, capital expenditure and debt principal payment requirements. During April 1994, the Company entered into a credit agreement with the Bank of Nova Scotia, acting as administrative agent for the lenders (the "1994 Credit Agreement"). The 1994 Credit Agreement provides for an aggregate of up to $1.2 billion in credit available to the Company. Loans under the 1994 Credit Agreement bear interest at fluctuating rates, as selected by the Company at specified times, equal to either (i) an alternate base rate (the higher of the Bank of Nova Scotia's base rate for dollar loans or the Federal Funds rate plus 50 basis points) plus 50 basis points or (ii) LIBO plus 150 basis points. At March 31, 1995 the Company had outstanding $394 million of term loans, $277 million of delayed term loans and $25 million of revolving loans under the 1994 Credit Agreement. The Company had approximately $460 million of credit available under the 1994 Credit Agreement at March 31, 1995. The Company receives payment for services rendered from federal and state agencies (under the Medicare, Medicaid and Champus programs), private insurance carriers, employers, managed care programs and patients. During the six months ended February 28, 1995, approximately 45% of the Company's net operating revenue related to patients participating in the Medicare and Medicaid programs. The Company recognizes that revenue and receivables from government agencies are significant to the Company's operations, but the Company does not believe that there are any significant credit risks associated with these government agencies. The Company does not believe that there are any other significant concentrations of revenue from any particular payor that would subject the Company to any significant credit risks in the collection of its accounts receivable. The Company is primarily self-insured for professional and general liability risks. The unfunded reserve for professional and general liability risks was $307.6 million at February 28, 1995. Payments of professional and general liability claims aggregated $29.3 million for the six months ended February 28, 1995. The Company does not believe that the payment of these self-insured risks will have any significant impact on the Company's liquidity or working capital. During fiscal 1994, the Company spent $221 million for capital expenditures (excluding EPIC and other facility acquisitions), primarily to renovate and add new equipment and technology to existing facilities. The Company intends to continue to invest in its existing facilities and in new facilities within its existing health care business, and capital expenditures (excluding hospital acquisitions) for fiscal 1995 are expected to be approximately $300 million (capital expenditures for the six months ended February 28, 1995 were $115.1 million). The Company may seek to sell certain of its hospitals from time to time. Management does not consider the sale of any assets to be necessary to repay the Company's indebtedness or to provide working capital. The Company's cash, cash expected to be generated from operations and available sources of capital are believed by management to be adequate to finance its planned future growth. PART II. OTHER INFORMATION ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS A Special Meeting of Stockholders was held on February 28, 1995 for the purpose of considering and voting on a proposal to approve and adopt a merger agreement pursuant to which a wholly-owned subsidiary of Columbia/HCA Healthcare Corporation will be merged with and into Healthtrust. The merger proposal was approved by the affirmative vote of the holders of a majority of the outstanding shares of Healthtrust common stock. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) The following exhibits are included herein: (11) Statement re: Computation of Earnings Per Share (27) Financial Data Schedule (included only in filings under the EDGAR system) (b) The Company did not file any reports on Form 8-K during the three months ended February 28, 1995. 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. Healthtrust, Inc. - The Hospital Company (Registrant) April 14, 1995 /S/ R. Clayton McWhorter Date R. Clayton McWhorter Chairman of the Board, Chief Executive Officer and President April 14, 1995 /S/ Kenneth C. Donahey Date Kenneth C. Donahey Senior Vice President and Controller Chief Accounting Officer EX-11 2 HEALTHTRUST, INC. - THE HOSPITAL COMPANY Exhibit 11 - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Dollars in thousands, except per share data) Three Months Ended Six Months Ended February 28 February 28 1995 1994 1995 1994 Primary: Average shares outstanding 91,075,721 81,175,622 90,873,624 81,138,773 Net effect of dilutive warrants 566,285 2,731,645 630,688 2,675,458 Net effect of dilutive stock options 1,265,335 970,897 1,266,142 824,890 Total weighted average common shares 92,907,341 84,878,164 92,770,454 84,639,121 Net income $ 61,355 $ 47,376 $ 111,284 $ 86,228 Net income per share $ 0.66 $ 0.56 $ 1.20 $ 1.02 Fully Diluted: Average shares outstanding 91,075,721 81,175,622 90,873,624 81,138,773 Net effect of dilutive warrants 571,449 2,772,431 633,291 2,772,431 Net effect of dilutive stock options 1,395,313 1,061,482 1,331,130 1,020,829 Total weighted average common shares 93,042,483 85,009,535 92,838,045 84,932,033 Net income $ 61,355 $ 47,376 $ 111,284 $ 86,228 Net income per share $ 0.66 $ 0.56 $ 1.20 $ 1.02 EX-27 3
5 0000826490 HEALTHTRUST, INC. - THE HOSPITAL COMPANY 1000 6-MOS AUG-31-1995 FEB-28-1995 52272 0 790873 180188 90190 852870 3109859 828254 4019497 556447 1691221 91 0 0 1146400 4019497 0 1984946 0 1476558 113309 128574 80604 194890 79271 111284 0 0 0 111284 1.20 1.20
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